Document:

Exhibit
10.5

 

INDEMNITY AGREEMENT

 

THIS INDEMNITY AGREEMENT
(this “Agreement”) is made as of November __, 2018, by and between U.S. Well Services, Inc., a Delaware
corporation (the “Company”), and ____________________________ (“Indemnitee”).

 

RECITALS

 

WHEREAS, highly
competent persons have become more reluctant to serve publicly-held corporations as directors, officers or in other capacities
unless they are provided with adequate protection through insurance or adequate indemnification against inordinate risks of claims
and actions against them arising out of their service to and activities on behalf of such corporations;

 

WHEREAS, the
Board of Directors of the Company (the “Board”) has determined that, in order to attract and retain qualified
individuals, the Company will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect persons
serving the Company and its subsidiaries from certain liabilities. Although the furnishing of such insurance has been a customary
and widespread practice among United States-based corporations and other business enterprises, the Company believes that, given
current market conditions and trends, such insurance may be available to it in the future only at higher premiums and with more
exclusions. At the same time, directors, officers and other persons in service to corporations or business enterprises are being
increasingly subjected to expensive and time-consuming litigation relating to, among other things, matters that traditionally would
have been brought only against the Company or business enterprise itself. The Second Amended and Restated Certificate of Incorporation
(the “Charter”) and the Bylaws of the Company (the “Bylaws”) require indemnification
of the officers and directors of the Company. Indemnitee may also be entitled to indemnification pursuant to applicable provisions
of the Delaware General Corporation Law (“DGCL”). The Charter, Bylaws and the DGCL expressly provide
that the indemnification provisions set forth therein are not exclusive, and thereby contemplate that contracts may be entered
into between the Company and members of the board of directors, officers and other persons with respect to indemnification, hold
harmless, exoneration, advancement and reimbursement rights;

 

WHEREAS, the
uncertainties relating to such insurance and to indemnification have increased the difficulty of attracting and retaining such
persons;

 

WHEREAS, the
Board has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best interests
of the Company’s stockholders and that the Company should act to assure such persons that there will be increased certainty
of such protection in the future;

 

WHEREAS, it
is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, hold harmless, exonerate and
to advance expenses on behalf of, such persons to the fullest extent permitted by applicable law so that they will serve or continue
to serve the Company free from undue concern that they will not be so protected against liabilities;

 

     

     

    

 

WHEREAS, this
Agreement is a supplement to and in furtherance of the Charter and Bylaws of the Company and any resolutions adopted pursuant thereto,
and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder;

 

WHEREAS, Indemnitee
may not be willing to serve as an officer or director, advisor or in another capacity without adequate protection, and the Company
desires Indemnitee to serve in such capacity. Indemnitee is willing to serve, continue to serve and to take on additional service
for or on behalf of the Company on the condition that he be so indemnified; and

 

NOW, THEREFORE,
in consideration of the premises and the covenants contained herein and subject to the provisions of the letter agreement dated
as of________________, 2018, the Company and Indemnitee do hereby covenant and agree as follows:

 

TERMS AND
CONDITIONS

 

1.           SERVICES
TO THE COMPANY. In consideration of the Company’s covenants and obligations hereunder, Indemnitee will serve or
continue to serve as an officer, director, advisor, key employee or any other capacity of the Company, as applicable, for so long
as Indemnitee is duly elected or appointed or retained or until Indemnitee tenders his resignation or until Indemnitee is removed.
The foregoing notwithstanding, this Agreement shall continue in full force and effect after Indemnitee has ceased to serve as a
director, officer, advisor, key employee or in any other capacity of the Company, as provided in Section 17. This Agreement, however,
shall not impose any obligation on Indemnitee or the Company to continue Indemnitee’s service to the Company beyond any period
otherwise required by law or by other agreements or commitments of the parties, if any.

 

2.    
      DEFINITIONS.
As used in this Agreement:

 

(a)          References
to “agent” shall mean any person who is or was a director, officer or employee of the Company or a subsidiary
of the Company or other person authorized by the Company to act for the Company, to include such person serving in such capacity
as a director, officer, employee, fiduciary or other official of another corporation, partnership, limited liability company, joint
venture, trust or other enterprise at the request of, for the convenience of, or to represent the interests of the Company or a
subsidiary of the Company.

 

(b)          The
terms “Beneficial Owner” and “Beneficial Ownership” shall have the meanings
set forth in Rule 13d¬3 promulgated under the Exchange Act (as defined below) as in effect on the date hereof.

 

(c)          A
“Change in Control” shall be deemed to occur upon the earliest to occur after the date of this Agreement
of any of the following events:

 

(i)          Acquisition
of Stock by Third Party. Any Person (as defined below) is or becomes the Beneficial Owner, directly or indirectly, of securities
of the Company representing fifteen percent (15%) or more of the combined voting power of the Company’s then outstanding
securities entitled to vote generally in the election of directors, unless (1) the change in the relative Beneficial Ownership
of the Company’s securities by any Person results solely from a reduction in the aggregate number of outstanding shares of
securities entitled to vote generally in the election of directors, or (2) such acquisition was approved in advance by the Continuing
Directors (as defined below) and such acquisition would not constitute a Change in Control under part (iii) of this definition;

 

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(ii)         Change
in Board of Directors. Individuals who, as of the date hereof, constitute the Board, and any new director whose election by
the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two thirds of the directors
then still in office who were directors on the date hereof or whose election for nomination for election was previously so approved
(collectively, the “Continuing Directors”), cease for any reason to constitute at least a majority of
the members of the Board;

 

(iii)        Corporate
Transactions. The effective date of a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or
similar business combination, involving the Company and one or more businesses (a “Business Combination”),
in each case, unless, following such Business Combination: (1) all or substantially all of the individuals and entities who were
the Beneficial Owners of securities entitled to vote generally in the election of directors immediately prior to such Business
Combination beneficially own, directly or indirectly, more than 51% of the combined voting power of the then outstanding securities
of the Company entitled to vote generally in the election of directors resulting from such Business Combination (including, without
limitation, a corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s
assets either directly or through one or more Subsidiaries (as defined below)) in substantially the same proportions as their ownership
immediately prior to such Business Combination, of the securities entitled to vote generally in the election of directors; (2)
no Person (excluding any corporation resulting from such Business Combination) is the Beneficial Owner, directly or indirectly,
of 15% or more of the combined voting power of the then outstanding securities entitled to vote generally in the election of directors
of the surviving corporation except to the extent that such ownership existed prior to the Business Combination; and (3) at least
a majority of the Board of Directors of the corporation resulting from such Business Combination were Continuing Directors at the
time of the execution of the initial agreement, or of the action of the Board of Directors, providing for such Business Combination;

 

(iv)        Liquidation.
The approval by the stockholders of the Company of a complete liquidation of the Company or an agreement or series of agreements
for the sale or disposition by the Company of all or substantially all of the Company’s assets, other than factoring the
Company’s current receivables or escrows due (or, if such stockholder approval is not required, the decision by the Board
to proceed with such a liquidation, sale, or disposition in one transaction or a series of related transactions); or

 

(v)         Other
Events. There occurs any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule
14A of Regulation 14A (or any successor rule) (or a response to any similar item on any similar schedule or form) promulgated under
the Exchange Act (as defined below), whether or not the Company is then subject to such reporting requirement.

 

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(d)          “Corporate
Status” describes the status of a person who is or was a director, officer, trustee, general partner, manager, managing
member, fiduciary, employee or agent of the Company or of any other Enterprise (as defined below) which such person is or was serving
at the request of the Company.

 

(e)          “Delaware
Court” shall mean the Court of Chancery of the State of Delaware.

 

“Disinterested
Director” shall mean a director of the Company who is not and was not a party to the Proceeding (as defined below)
in respect of which indemnification is sought by Indemnitee.

 

(f)          “Enterprise”
shall mean the Company and any other corporation, constituent corporation (including any constituent of a constituent) absorbed
in a consolidation or merger to which the Company (or any of its wholly owned subsidiaries) is a party, limited liability company,
partnership, joint venture, trust, employee benefit plan or other enterprise of which Indemnitee is or was serving at the request
of the Company as a director, officer, trustee, general partner, managing member, fiduciary, employee or agent.

 

(g)          “Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended.

 

(h)          “Expenses”
shall include all direct and indirect costs, fees and expenses of any type or nature whatsoever, including, without limitation,
all reasonable attorneys’ fees and costs, retainers, court costs, transcript costs, fees of experts, witness fees, travel
expenses, fees of private investigators and professional advisors, duplicating costs, printing and binding costs, telephone charges,
postage, delivery service fees, fax transmission charges, secretarial services and all other disbursements, obligations or expenses
in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness
in, settlement or appeal of, or otherwise participating in, a Proceeding (as defined below), including reasonable compensation
for time spent by Indemnitee for which he or she is not otherwise compensated by the Company or any third party. Expenses also
shall include Expenses incurred in connection with any appeal resulting from any Proceeding (as defined below), including without
limitation the principal, premium, security for, and other costs relating to any cost bond, supersedeas bond, or other appeal bond
or its equivalent. Expenses, however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments or
fines against Indemnitee.

 

(i)          References
to “fines” shall include any excise tax assessed on Indemnitee with respect to any employee benefit plan;
references to “serving at the request of the Company” shall include any service as a director, officer,
employee, agent or fiduciary of the Company which imposes duties on, or involves services by, such director, officer, employee,
agent or fiduciary with respect to an employee benefit plan, its participants or beneficiaries; and if Indemnitee acted in good
faith and in a manner Indemnitee reasonably believed to be in the best interests of the participants and beneficiaries of an employee
benefit plan, Indemnitee shall be deemed to have acted in a manner “not opposed to, the best interests
of the Company” as referred to in this Agreement.

 

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(j)          “Independent
Counsel” shall mean a law firm or a member of a law firm with significant experience in matters of corporation law
and that neither presently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any
matter material to either such party (other than with respect to matters concerning Indemnitee under this Agreement, or of other
indemnitees under similar indemnification agreements); or (ii) any other party to the Proceeding (as defined below) giving rise
to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel”
shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict
of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.

 

(k)          The
term “Person” shall have the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act as
in effect on the date hereof; provided, however, that “Person” shall exclude: (i) the Company; (ii) any
Subsidiaries (as defined beloW) of the Company; (iii) any employment benefit plan of the Company or of a Subsidiary (as defined
below) of the Company or of any corporation owned, directly or indirectly, by the stockholders of the Company in substantially
the same proportions as their ownership of stock of the Company; and (iv) any trustee or other fiduciary holding securities under
an employee benefit plan of the Company or of a Subsidiary (as defined below) of the Company or of a corporation owned directly
or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company.

 

(l)          The
term “Proceeding” shall include any threatened, pending or completed action, suit, arbitration, mediation,
alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed
proceeding, whether brought in the right of the Company or otherwise and whether of a civil (including intentional or unintentional
tort claims), criminal, administrative or investigative or related nature, in which Indemnitee was, is, will or might be involved
as a party or otherwise by reason of the fact that Indemnitee is or was a director or officer of the Company, by reason of any
action (or failure to act) taken by him or of any action (or failure to act) on his part while acting as a director or officer
of the Company, or by reason of the fact that he is or was serving at the request of the Company as a director, officer, trustee,
general partner, managing member, fiduciary, employee or agent of any other Enterprise, in each case whether or not serving in
such capacity at the time any liability or expense is incurred for which indemnification, reimbursement, or advancement of expenses
can be provided under this Agreement.

 

(m)          The
term “Subsidiary,” with respect to any Person, shall mean any corporation, limited liability company,
partnership, joint venture, trust or other entity of which a majority of the voting power of the voting equity securities or equity
interest is owned, directly or indirectly, by that Person.

 

3.            INDEMNITY
IN THIRD-PARTY PROCEEDINGS. To the fullest extent permitted by applicable law, the Company shall indemnify, hold harmless
and exonerate Indemnitee in accordance with the provisions of this Section 3 if Indemnitee was, is, or is threatened to be made,
a party to or a participant (as a witness, deponent or otherwise) in any Proceeding, other than a Proceeding by or in the right
of the Company to procure a judgment in its favor by reason of Indemnitee’s Corporate Status. Pursuant to this Section 3,
Indemnitee shall be indemnified, held harmless and exonerated against all Expenses, judgments, liabilities, fines, penalties and
amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect
of such Expenses, judgments, fines, penalties and amounts paid in settlement) actually, and reasonably incurred by Indemnitee or
on his behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in
a manner he reasonably believed to be in or not opposed to the best interests of the Company and, in the case of a criminal Proceeding,
had no reasonable cause to believe that his conduct was unlawful.

 

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4.            INDEMNITY
IN PROCEEDINGS BY OR IN THE RIGHT OF THE COMPANY. To the fullest extent permitted by applicable law, the Company shall
indemnify, hold harmless and exonerate Indemnitee in accordance with the provisions of this Section 4 if Indemnitee was, is, or
is threatened to be made, a party to or a participant (as a witness, deponent or otherwise) in any Proceeding by or in the right
of the Company to procure a judgment in its favor by reason of Indemnitee’s Corporate Status. Pursuant to this Section 4,
Indemnitee shall be indemnified, held harmless and exonerated against all Expenses actually and reasonably incurred by him or on
his behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a
manner he reasonably believed to be in or not opposed to the best interests of the Company. No indemnification, hold harmless or
exoneration for Expenses shall be made under this Section 4 in respect of any claim, issue or matter as to which Indemnitee shall
have been finally adjudged by a court to be liable to the Company, unless and only to the extent that any court in which the Proceeding
was brought or the Delaware Court shall determine upon application that, despite the adjudication of liability but in view of all
the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification, to be held harmless or to exoneration.

 

5.            INDEMNIFICATION
FOR EXPENSES OF A PARTY WHO IS WHOLLY OR PARTLY SUCCESSFUL. Notwithstanding any other provisions of this Agreement,
to the extent that Indemnitee was or is, by reason of Indemnitee’s Corporate Status, a party to (or a participant in) and
is successful, on the merits or otherwise, in any Proceeding or in defense of any claim, issue or matter therein, in whole or in
part, the Company shall, to the fullest extent permitted by applicable law, indemnify, hold harmless and exonerate Indemnitee against
all Expenses actually and reasonably incurred by him in connection therewith. If Indemnitee is not wholly successful in such Proceeding
but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding,
the Company shall, to the fullest extent permitted by applicable law, indemnify, hold harmless and exonerate Indemnitee against
all Expenses actually and reasonably incurred by him or on his behalf in connection with each successfully resolved claim, issue
or matter. If Indemnitee is not wholly successful in such Proceeding, the Company also shall, to the fullest extent permitted by
applicable law, indemnify, hold harmless and exonerate Indemnitee against all Expenses reasonably incurred in connection with a
claim, issue or matter related to any claim, issue, or matter on which Indemnitee was successful. For purposes of this Section
and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice,
shall be deemed to be a successful result as to such claim, issue or matter.

 

6.            INDEMNIFICATION
FOR EXPENSES OF A WITNESS. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is,
by reason of his Corporate Status, a witness or deponent in any Proceeding to which Indemnitee was or is not a party or threatened
to be made a party, he shall, to the fullest extent permitted by applicable law, be indemnified, held harmless and exonerated against
all Expenses actually and reasonably incurred by him or on his behalf in connection therewith.

 

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7.            ADDITIONAL
INDEMNIFICATION, HOLD HARMLESS AND EXONERATION RIGHTS.

 

(a)          Notwithstanding
any limitation in Sections 3, 4, or 5, the Company shall, to the fullest extent permitted by applicable law, indemnify, hold harmless
and exonerate Indemnitee if Indemnitee is a party to or threatened to be made a party to any Proceeding (including a Proceeding
by or in the right of the Company to procure a judgment in its favor) against all Expenses, judgments, fines, penalties and amounts
paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of such
Expenses, judgments, fines, penalties and amounts paid in settlement) actually and reasonably incurred by Indemnitee in connection
with the Proceeding. No indemnification, hold harmless or exoneration rights shall be available under this Section 7 on account
of Indemnitee’s conduct which constitutes a breach of Indemnitee’s duty of loyalty to the Company or its stockholders
or is an act or omission not in good faith or which involves intentional misconduct or a knowing violation of the law.

 

8.            CONTRIBUTION
IN THE EVENT OF JOINT LIABILITY.

 

(a)          To
the fullest extent permissible under applicable law, if the indemnification, hold harmless and/or exoneration rights provided for
in this Agreement are unavailable to Indemnitee in whole or in part for any reason whatsoever, the Company, in lieu of indemnifying,
holding harmless or exonerating Indemnitee, shall pay, in the first instance, the entire amount incurred by Indemnitee, whether
for judgments, liabilities, fines, penalties, amounts paid or to be paid in settlement and/or for Expenses, in connection with
any Proceeding without requiring Indemnitee to contribute to such payment, and the Company hereby waives and relinquishes any right
of contribution it may have at any time against Indemnitee.

 

(b)          The
Company shall not enter into any settlement of any Proceeding in which the Company is jointly liable with Indemnitee (or would
be if joined in such Proceeding) unless such settlement provides for a full and final release of all claims asserted against Indemnitee.

 

(c)          The
Company hereby agrees to fully indemnify, hold harmless and exonerate Indemnitee from any claims for contribution which may be
brought by officers, directors or employees of the Company other than Indemnitee who may be jointly liable with Indemnitee.

 

9.            EXCLUSIONS.
Notwithstanding any provision in this Agreement, the Company shall not be obligated under this Agreement to make any indemnification,
advance expenses, hold harmless or exoneration payment in connection with any claim made against Indemnitee:

 

(a)          for
which payment has actually been received by or on behalf of Indemnitee under any insurance policy or other indemnity or advancement
provision, except with respect to any excess beyond the amount actually received under any insurance policy, contract, agreement,
other indemnity or advancement provision or otherwise;

 

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(b)          for
an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within
the meaning of Section 16(b) of the Exchange Act (or any successor rule) or similar provisions of state statutory law or common
law; or

 

(c)          except
as otherwise provided in Sections 14(f)-(g) hereof, prior to a Change in Control, in connection with any Proceeding (or any part
of any Proceeding) initiated by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against
the Company or its directors, officers, employees or other indemnitees, unless (i) the Board authorized the Proceeding (or any
part of any Proceeding) prior to its initiation or (ii) the Company provides the indemnification, hold harmless or exoneration
payment, in its sole discretion, pursuant to the powers vested in the Company under applicable law. Indemnitee shall seek payments
or Advances from the Company only to the extent that such payments or Advances are unavailable from any insurance policy of the
Company covering Indemnitee.

 

10.          ADVANCES
OF EXPENSES; DEFENSE OF CLAIM.

 

(a)          Notwithstanding
any provision of this Agreement to the contrary, and to the fullest extent not prohibited by applicable law, the Company shall
pay the Expenses incurred by Indemnitee (or reasonably expected by Indemnitee to be incurred by Indemnitee within three months)
in connection with any Proceeding within ten (10) days after the receipt by the Company of a statement or statements requesting
such advances from time to time, prior to the final disposition of any Proceeding. Advances shall, to the fullest extent permitted
by law, be unsecured and interest free. Advances shall, to the fullest extent permitted by law, be made without regard to Indemnitee’s
ability to repay the Expenses and without regard to Indemnitee’s ultimate entitlement to be indemnified, held harmless or
exonerated under the other provisions of this Agreement. Advances shall include any and all reasonable Expenses incurred pursuing
a Proceeding to enforce this right of advancement, including Expenses incurred preparing and forwarding statements to the Company
to support the advances claimed. To the fullest extent required by applicable law, such payments of Expenses in advance of the
final disposition of the Proceeding shall be made only upon the Company’s receipt of an undertaking, by or on behalf of Indemnitee,
to repay the advanced amounts to the extent that it is ultimately determined that Indemnitee is not entitled to be indemnified
by the Company under the provisions of this Agreement, the Charter, the Bylaws of the Company, applicable law or otherwise. This
Section 10(a) shall not apply to any claim made by Indemnitee for which an indemnification, hold harmless or exoneration payment
is excluded pursuant to Section 9.

 

(b)          The
Company will be entitled to participate in the Proceeding at its own expense.

 

(c)          The
Company shall not settle any action, claim or Proceeding (in whole or in part) which would impose any Expense, judgment, fine,
penalty or limitation on Indemnitee without Indemnitee’s prior written consent.

 

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11.          PROCEDURE
FOR NOTIFICATION AND APPLICATION FOR INDEMNIFICATION.

 

(a)          Indemnitee
agrees to notify promptly the Company in writing upon being served with any summons, citation, subpoena, complaint, indictment,
information or other document relating to any Proceeding, claim, issue or matter therein which may be subject to indemnification,
hold harmless or exoneration rights, or advancement of Expenses covered hereunder. The failure of Indemnitee to so notify the Company
shall not relieve the Company of any obligation which it may have to Indemnitee under this Agreement, or otherwise.

 

(b)          Indemnitee
may deliver to the Company a written application to indemnify, hold harmless or exonerate Indemnitee in accordance with this Agreement.
Such application(s) may be delivered from time to time and at such time(s) as Indemnitee deems appropriate in his sole discretion.
Following such a written application for indemnification by Indemnitee, Indemnitee’s entitlement to indemnification shall
be determined according to Section 12(a) of this Agreement.

 

12.          PROCEDURE
UPON APPLICATION FOR INDEMNIFICATION.

 

(a)          A
determination, if required by applicable law, with respect to Indemnitee’s entitlement to indemnification shall be made in
the specific case by one of the following methods, which shall be at the election of Indemnitee: (i) by a majority vote of the
Disinterested Directors, even though less than a quorum of the Board, (ii) by a committee of such directors designated by majority
vote of such directors, (iii) if there are no Disinterested Directors or if such directors so direct, by Independent Counsel in
a written opinion to the Board, a copy of which shall be delivered to Indemnitee, or (iv) by vote of the stockholders. The Company
promptly will advise Indemnitee in writing with respect to any determination that Indemnitee is or is not entitled to indemnification,
including a description of any reason or basis for which indemnification has been denied. If it is so determined that Indemnitee
is entitled to indemnification, payment to Indemnitee shall be made within ten (10) days after such determination. Indemnitee shall
reasonably cooperate with the person, persons or entity making such determination with respect to Indemnitee’s entitlement
to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or
information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and
reasonably necessary to such determination. Any costs or Expenses (including reasonable attorneys’ fees and disbursements)
incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company
(irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the Company hereby agrees to indemnify
and to hold Indemnitee harmless therefrom.

 

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(b)          In
the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 12(a) hereof,
the Independent Counsel shall be selected as provided in this Section 12(b). The Independent Counsel shall be selected by Indemnitee
(unless Indemnitee shall request that such selection be made by the Board), and Indemnitee shall give written notice to the Company
advising it of the identity of the Independent Counsel so selected and certifying that the Independent Counsel so selected meets
the requirements of “Independent Counsel” as defined in Section 2 of this Agreement. If the Independent
Counsel is selected by the Board, the Company shall give written notice to Indemnitee advising him of the identity of the Independent
Counsel so selected and certifying that the Independent Counsel so selected meets the requirements of “Independent
Counsel” as defined in Section 2 of this Agreement. In either event, Indemnitee or the Company, as the case may be,
may, within ten (10) days after such written notice of selection shall have been received, deliver to the Company or to Indemnitee,
as the case may be, a written objection to such selection; provided, however, that such objection may be asserted only on the ground
that the Independent Counsel so selected does not meet the requirements of “Independent Counsel” as defined
in Section 2 of this Agreement, and the objection shall set forth with particularity the factual basis of such assertion. Absent
a proper and timely objection, the person so selected shall act as Independent Counsel. If such written objection is so made and
substantiated, the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn
or a court of competent jurisdiction has determined that such objection is without merit. If, within twenty (20) days after submission
by Indemnitee of a written request for indemnification pursuant to Section 11(b) hereof, no Independent Counsel shall have been
selected and not objected to, either the Company or Indemnitee may petition the Delaware Court for resolution of any objection
which shall have been made by the Company or Indemnitee to the other’s selection of Independent Counsel and/or for the appointment
as Independent Counsel of a person selected by the Delaware Court, and the person with respect to whom all objections are so resolved
or the person so appointed shall act as Independent Counsel under Section 12(a) hereof. Upon the due commencement of any judicial
proceeding or arbitration pursuant to Section 14(a) of this Agreement, Independent Counsel shall be discharged and relieved of
any further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing).

 

(c)          The
Company agrees to pay the reasonable fees and expenses of Independent Counsel and to fully indemnify and hold harmless such Independent
Counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement
pursuant hereto.

 

13.          PRESUMPTIONS
AND EFFECT OF CERTAIN PROCEEDINGS.

 

(a)          In
making a determination with respect to entitlement to indemnification hereunder, the person, persons or entity making such determination
shall presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification
in accordance with Section 11(b) of this Agreement, and the Company shall have the burden of proof to overcome that presumption
in connection with the making by any person, persons or entity of any determination contrary to that presumption. Neither the failure
of the Company (including by the Disinterested Directors or Independent Counsel) to have made a determination prior to the commencement
of any action pursuant to this Agreement that indemnification is proper in the circumstances because Indemnitee has met the applicable
standard of conduct, nor an actual determination by the Company (including by the Disinterested Directors or Independent Counsel)
that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that
Indemnitee has not met the applicable standard of conduct.

 

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(b)          If
the person, persons or entity empowered or selected under Section 12 of this Agreement to determine whether Indemnitee is entitled
to indemnification shall not have made a determination within thirty (30) days after receipt by the Company of the request therefor,
the requisite determination of entitlement to indemnification shall, to the fullest extent permitted by law, be deemed to have
been made and Indemnitee shall be entitled to such indemnification, absent (i) a misstatement by Indemnitee of a material fact,
or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with
the request for indemnification, or (ii) a final judicial determination that any or all such indemnification is expressly prohibited
under applicable law; provided, however, that such 30-day period may be extended for a reasonable time, not to exceed an additional
fifteen (15) days, if the person, persons or entity making the determination with respect to entitlement to indemnification in
good faith requires such additional time for the obtaining or evaluating of documentation and/or information relating thereto.

 

(c)          The
termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a
plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely
affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner
which he reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding,
that Indemnitee had reasonable cause to believe that his conduct was unlawful.

 

(d)          For
purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith if Indemnitee’s action
is based on the records or books of account of the Enterprise, including financial statements, or on information supplied to Indemnitee
by the directors, manager, or officers of the Enterprise in the course of their duties, or on the advice of legal counsel for the
Enterprise, its Board, any committee of the Board or any director, trustee, general partner, manager or managing member, or on
information or records given or reports made to the Enterprise, its Board, any committee of the Board or any director, trustee,
general partner, manager or managing member, by an independent certified public accountant or by an appraiser or other expert selected
by the Enterprise, its Board, any committee of the Board or any director, trustee, general partner, manager or managing member.
The provisions of this Section 13(d) shall not be deemed to be exclusive or to limit in any way the other circumstances in which
Indemnitee may be deemed or found to have met the applicable standard of conduct set forth in this Agreement.

 

(e)          The
knowledge and/or actions, or failure to act, of any other director, officer, trustee, partner, manager, managing member, fiduciary,
agent or employee of the Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification
under this Agreement.

 

    	11

     

    

 

14.          REMEDIES
OF INDEMNITEE.

 

(a)          In
the event that (i) a determination is made pursuant to Section 12 of this Agreement that Indemnitee is not entitled to indemnification
under this Agreement, (ii) advancement of Expenses, to the fullest extent permitted by applicable law, is not timely made pursuant
to Section 10 of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to Section
12(a) of this Agreement within thirty (30) days after receipt by the Company of the request for indemnification, (iv) payment of
indemnification is not made pursuant to Section 5, 6, 7 or the last sentence of Section 12(a) of this Agreement within ten (10)
days after receipt by the Company of a written request therefor, (v) a contribution payment is not made in a timely manner pursuant
to Section 8 of this Agreement, (vi) payment of indemnification pursuant to Section 3 or 4 of this Agreement is not made within
ten (10) days after a determination has been made that Indemnitee is entitled to indemnification, or (vii) payment to Indemnitee
pursuant to any hold harmless or exoneration rights under this Agreement or otherwise is not made in accordance with this Agreement,
Indemnitee shall be entitled to an adjudication by the Delaware Court to such indemnification, hold harmless, exoneration, contribution
or advancement rights. Alternatively, Indemnitee, at his option, may seek an award in arbitration to be conducted by a single arbitrator
pursuant to the Commercial Arbitration Rules of the American Arbitration Association. Except as set forth herein, the provisions
of Delaware law (without regard to its conflict of laws rules) shall apply to any such arbitration. The Company shall not oppose
Indemnitee’s right to seek any such adjudication or award in arbitration.

 

(b)          In
the event that a determination shall have been made pursuant to Section 12(a) of this Agreement that Indemnitee is not entitled
to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 14 shall be conducted in all respects
as a de novo trial, or arbitration, on the merits and Indemnitee shall not be prejudiced by reason of that adverse determination.

 

(c)          In
any judicial proceeding or arbitration commenced pursuant to this Section 14, Indemnitee shall be presumed to be entitled to be
indemnified, held harmless, exonerated to receive advancement of Expenses under this Agreement and the Company shall have the burden
of proving Indemnitee is not entitled to be indemnified, held harmless, exonerated and to receive advancement of Expenses, as the
case may be, and the Company may not refer to or introduce into evidence any determination pursuant to Section 12(a) of this Agreement
adverse to Indemnitee for any purpose. If Indemnitee commences a judicial proceeding or arbitration pursuant to this Section 14,
Indemnitee shall not be required to reimburse the Company for any advances pursuant to Section 10 until a final determination is
made with respect to Indemnitee’s entitlement to indemnification (as to which all rights of appeal have been exhausted or
lapsed).

 

(d)          If
a determination shall have been made pursuant to Section 12(a) of this Agreement that Indemnitee is entitled to indemnification,
the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 14,
absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s
statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification
under applicable law.

 

(e)          The
Company shall be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 14 that
the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court
or before any such arbitrator that the Company is bound by all the provisions of this Agreement.

 

    	12

     

    

 

(f)          The
Company shall indemnify and hold harmless Indemnitee to the fullest extent permitted by law against all Expenses and, if requested
by Indemnitee, shall (within ten (10) days after the Company’s receipt of such written request) pay to Indemnitee, to the
fullest extent permitted by applicable law, such Expenses which are incurred by Indemnitee in connection with any judicial proceeding
or arbitration brought by Indemnitee: (i) to enforce his rights under, or to recover damages for breach of, this Agreement or any
other indemnification, hold harmless, exoneration, advancement or contribution agreement or provision of the Charter, or the Bylaws
now or hereafter in effect; or (ii) for recovery or advances under any insurance policy maintained by any person for the benefit
of Indemnitee, regardless of the outcome and whether Indemnitee ultimately is determined to be entitled to such indemnification,
hold harmless or exoneration right, advancement, contribution or insurance recovery, as the case may be (unless such judicial proceeding
or arbitration was not brought by Indemnitee in good faith).

 

(g)          Interest
shall be paid by the Company to Indemnitee at the legal rate under Delaware law for amounts which the Company indemnifies, holds
harmless or exonerates, or advances, or is obliged to indemnify, hold harmless or exonerate or advance for the period commencing
with the date on which Indemnitee requests indemnification, to be held harmless, exonerated, contribution, reimbursement or advancement
of any Expenses and ending with the date on which such payment is made to Indemnitee by the Company.

 

15.          SECURITY.
Notwithstanding anything herein to the contrary, to the extent requested by Indemnitee and approved by the Board, the Company
may at any time and from time to time provide security to Indemnitee for the Company’s obligations hereunder through an
irrevocable bank line of credit, funded trust or other collateral. Any such security, once provided to Indemnitee, may not be
revoked or released without the prior written consent of Indemnitee.

 

16.          NON-EXCLUSIVITY;
SURVIVAL OF RIGHTS; INSURANCE; SUBROGATION.

 

(a)          The
rights of Indemnitee as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at
any time be entitled under applicable law, the Charter, the Bylaws, any agreement, a vote of stockholders or a resolution of directors,
or otherwise. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right
of Indemnitee under this Agreement in respect of any Proceeding (regardless of when such Proceeding is first threatened, commenced
or completed) or claim, issue or matter therein arising out of, or related to, any action taken or omitted by such Indemnitee in
his Corporate Status, prior to such amendment, alteration or repeal. To the extent that a change in applicable law, whether by
statute or judicial decision, permits greater indemnification, hold harmless or exoneration rights or advancement of Expenses than
would be afforded currently under the Charter, the Bylaws or this Agreement, it is the intent of the parties hereto that Indemnitee
shall enjoy by this Agreement the greater benefits so afforded by such change. No right or remedy herein conferred is intended
to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other
right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of
any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy.

 

    	13

     

    

 

(b)          The
DGCL, the Charter and the Bylaws permit the Company to purchase and maintain insurance or furnish similar protection or make other
arrangements including, but not limited to, providing a trust fund, letter of credit, or surety bond (“Indemnification
Arrangements”) on behalf of Indemnitee against any liability asserted against him or incurred by or on behalf of
him or in such capacity as a director, officer, employee or agent of the Company, or arising out of his status as such, whether
or not the Company would have the power to indemnify him against such liability under the provisions of this Agreement or under
the DGCL, as it may then be in effect. The purchase, establishment, and maintenance of any such Indemnification Arrangement shall
not in any way limit or affect the rights and obligations of the Company or of Indemnitee under this Agreement except as expressly
provided herein, and the execution and delivery of this Agreement by the Company and Indemnitee shall not in any way limit or affect
the rights and obligations of the Company or the other party or parties thereto under any such Indemnification Arrangement.

 

(c)          To
the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers, trustees,
partners, managers, managing members, fiduciaries, employees, or agents of the Company or of any other Enterprise which such person
serves at the request of the Company, Indemnitee shall be covered by such policy or policies in accordance with its or their terms
to the maximum extent of the coverage available for any such director, officer, trustee, partner, managers, managing member, fiduciary,
employee or agent under such policy or policies. If, at the time the Company receives notice from any source of a Proceeding as
to which Indemnitee is a party or a participant (as a witness, deponent or otherwise), the Company has director and officer liability
insurance in effect, the Company shall give prompt notice of such Proceeding to the insurers in accordance with the procedures
set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to cause such insurers
to pay, on behalf of Indemnitee, all amounts payable as a result of such Proceeding in accordance with the terms of such policies.

 

(d)          In
the event of any payment under this Agreement, the Company, to the fullest extent permitted by law, shall be subrogated to the
extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and take all action
necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to
enforce such rights.

 

(e)          The
Company’s obligation to indemnify, hold harmless, exonerate or advance Expenses hereunder to Indemnitee who is or was serving
at the request of the Company as a director, officer, trustee, partner, manager, managing member, fiduciary, employee or agent
of any other Enterprise shall be reduced by any amount Indemnitee has actually received as indemnification, hold harmless or exoneration
payments or advancement of expenses from such Enterprise. Notwithstanding any other provision of this Agreement to the contrary,
(i) Indemnitee shall have no obligation to reduce, offset, allocate, pursue or apportion any indemnification, hold harmless, exoneration,
advancement, contribution or insurance coverage among multiple parties possessing such duties to Indemnitee prior to the Company’s
satisfaction and performance of all its obligations under this Agreement, and (ii) the Company shall perform fully its obligations
under this Agreement without regard to whether Indemnitee holds, may pursue or has pursued any indemnification, advancement, hold
harmless, exoneration, contribution or insurance coverage rights against any person or entity other than the Company.

 

    	14

     

    

 

17.          DURATION
OF AGREEMENT. All agreements and obligations of the Company contained herein shall continue during the period Indemnitee
serves as a director or officer of the Company or as a director, officer, trustee, partner, manager, managing member, fiduciary,
employee or agent of any other corporation, partnership, joint venture, trust, employee benefit plan or other Enterprise which
Indemnitee serves at the request of the Company and shall continue thereafter so long as Indemnitee shall be subject to any possible
Proceeding (including any rights of appeal thereto and any Proceeding commenced by Indemnitee pursuant to Section 14 of this Agreement)
by reason of his Corporate Status, whether or not he is acting in any such capacity at the time any liability or expense is incurred
for which indemnification or advancement can be provided under this Agreement.

 

18.          SEVERABILITY.
If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever:
(a) the validity, legality and enforceability of the remaining provisions of this Agreement (including, without limitation, each
portion of any Section, paragraph or sentence of this Agreement containing any such provision held to be invalid, illegal or unenforceable,
that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and shall remain enforceable
to the fullest extent permitted by law; (b) such provision or provisions shall be deemed reformed to the extent necessary to conform
to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the
provisions of this Agreement (including, without limitation, each portion of any Section, paragraph or sentence of this Agreement
containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable)
shall be construed so as to give effect to the intent manifested thereby.

 

19.          ENFORCEMENT
AND BINDING EFFECT.

 

(a)          The
Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby
in order to induce Indemnitee to serve as a director, officer or key employee of the Company, and the Company acknowledges that
Indemnitee is relying upon this Agreement in serving as a director, officer or key employee of the Company.

 

(b)          Without
limiting any of the rights of Indemnitee under the Charter or Bylaws of the Company as they may be amended from time to time, this
Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes
all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter
hereof.

 

(c)          The
indemnification, hold harmless, exoneration and advancement of expenses rights provided by or granted pursuant to this Agreement
shall be binding upon and be enforceable by the parties hereto and their respective successors and assigns (including any direct
or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or assets
of the Company), shall continue as to an Indemnitee who has ceased to be a director, officer, employee or agent of the Company
or a director, officer, trustee, general partner, manager, managing member, fiduciary, employee or agent of any other Enterprise
at the Company’s request, and shall inure to the benefit of Indemnitee and his spouse, assigns, heirs, devisees, executors
and administrators and other legal representatives.

 

    	15

     

    

 

(d)          The
Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all,
substantially all or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance
satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that
the Company would be required to perform if no such succession had taken place.

 

(e)          The
Company and Indemnitee agree herein that a monetary remedy for breach of this Agreement, at some later date, may be inadequate,
impracticable and difficult of proof, and further agree that such breach may cause Indemnitee irreparable harm. Accordingly, the
parties hereto agree that Indemnitee may, to the fullest extent permitted by law, enforce this Agreement by seeking, among other
things, injunctive relief and/or specific performance hereof, without any necessity of showing actual damage or irreparable harm
and that by seeking injunctive relief and/or specific performance, Indemnitee shall not be precluded from seeking or obtaining
any other relief to which he may be entitled. The Company and Indemnitee further agree that Indemnitee shall, to the fullest extent
permitted by law, be entitled to such specific performance and injunctive relief, including temporary restraining orders, preliminary
injunctions and permanent injunctions, without the necessity of posting bonds or other undertaking in connection therewith. The
Company acknowledges that in the absence of a waiver, a bond or undertaking may be required of Indemnitee by a court of competent
jurisdiction, Company hereby waives any such requirement of such a bond or undertaking to the fullest extent permitted by law.

 

20.          MODIFICATION
AND WAIVER. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by
the Company and Indemnitee. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of
any other provisions of this Agreement nor shall any waiver constitute a continuing waiver.

 

21.          NOTICES.
All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed to have been
duly given (i) if delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed,
or (ii) mailed by certified or registered mail with postage prepaid, on the third (3rd) business day after the date on which it
is so mailed:

 

(a)          If
to Indemnitee, at the address indicated on the signature page of this Agreement, or such other address as Indemnitee shall provide
in writing to the Company.

 

(b)          If
to the Company, to:

 

U.S. Well Services, Inc.

770 South Post Oak Lane, Suite 405

Houston, Texas 77056

Attention: Kyle O’Neill

 

With a copy, which
shall not constitute notice, to

 

Winston & Strawn
LLP

333 South Grand Avenue, 38th Floor

Los Angeles, California 90071

Attn: Justin E. Rawlins

Fax No.: (213) 615-1750

 

or to any other address as may have been
furnished to Indemnitee in writing by the Company.

 

    	16

     

    

 

 

22.          APPLICABLE
LAW AND CONSENT TO JURISDICTION. This Agreement and the legal relations among the parties shall be governed by, and
construed and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. Except
with respect to any arbitration commenced by Indemnitee pursuant to Section 14(a) of this Agreement, to the fullest extent permitted
by law, the Company and Indemnitee hereby irrevocably and unconditionally: (a) agree that any action or proceeding arising out
of or in connection with this Agreement shall be brought only in the Delaware Court and not in any other state or federal court
in the United States of America or any court in any other country; (b) consent to submit to the exclusive jurisdiction of the Delaware
Court for purposes of any action or proceeding arising out of or in connection with this Agreement; (c) waive any objection to
the laying of venue of any such action or proceeding in the Delaware Court; and (d) waive, and agree not to plead or to make, any
claim that any such action or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum, or
is subject (in whole or in part) to a jury trial. To the fullest extent permitted by law, the parties hereby agree that the mailing
of process and other papers in connection with any such action or proceeding in the manner provided by Section 21 or in such other
manner as may be permitted by law, shall be valid and sufficient service thereof.

 

23.          IDENTICAL
COUNTERPARTS. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed
to be an original but all of which together shall constitute one and the same Agreement. Only one such counterpart signed by the
party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement.

 

24.          MISCELLANEOUS.
Use of the masculine pronoun shall be deemed to include usage of the feminine pronoun where appropriate. The headings of the paragraphs
of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the
construction thereof.

 

25.          PERIOD
OF LIMITATIONS. No legal action shall be brought and no cause of action shall be asserted by or in the right of the
Company against Indemnitee, Indemnitee’s spouse, heirs, executors or personal or legal representatives after the expiration
of two years from the date of accrual of such cause of action, and any claim or cause of action of the Company shall be extinguished
and deemed released unless asserted by the timely filing of a legal action within such two-year period; provided, however, that
if any shorter period of limitations is otherwise applicable to any such cause of action such shorter period shall govern.

 

26.          ADDITIONAL
ACTS. If for the validation of any of the provisions in this Agreement any act, resolution, approval or other procedure
is required to the fullest extent permitted by law, the Company undertakes to cause such act, resolution, approval or other procedure
to be affected or adopted in a manner that will enable the Company to fulfill its obligations under this Agreement.

 

    	17

     

    

 

27.          MAINTENANCE
OF INSURANCE. The Company shall use commercially reasonable efforts to obtain and maintain in effect during the entire
period for which the Company is obligated to indemnify the Indemnitee under this Agreement, one or more policies of insurance with
reputable insurance companies to provide the officers/directors of the Company with coverage for losses from wrongful acts and
omissions and to ensure the Company’s performance of its indemnification obligations under this Agreement. The Indemnitee
shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available
for any such director or officer under such policy or policies. In all such insurance policies, the Indemnitee shall be named as
an insured in such a manner as to provide the Indemnitee with the same rights and benefits as are accorded to the most favorably
insured of the Company’s directors and officers.

 

[Signature Page Follows]

 

    	18

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Indemnity Agreement to be signed as of the day and year first above written.

 

	 	U.S. WELL SERVICES, INC.
	 	 	 
	 	By:	                    
	 	Name:	 
	 	Title:	 
	 	 	 
	 	INDEMNITEE
	 	 	 
	 	By:	
	 	Name:	 
	 	Address:	 

 

[Signature page to Indemnity Agreement]Exhibit 10.6

 

Execution Draft

 

EMPLOYMENT
AGREEMENT

 

This Employment Agreement
(this “Agreement”) is entered into the 13th day of July 2018, by and between Matlin & Partners
Acquisition Corporation, a Delaware corporation, to be renamed as set forth in the Merger Agreement (as defined below) (the “Company”),
and Joel Broussard (“Executive”). For purposes hereof, the “Company Group” means, collectively,
the Company and each of its affiliates and subsidiaries.

 

RECITALS

 

The Company, MPAC Merger
Sub LLC, USWS Holdings LLC (“USWS Holdings”), the Blocker Companies and, solely for purposes described herein,
the Seller Representatives, entered into that certain Merger and Contribution Agreement, dated July 13, 2018 (the “Merger
Agreement”). All capitalized terms used in this Agreement but not defined in this Agreement shall have the meaning ascribed
to them in the Merger Agreement;

 

Executive is currently
a party to an Employment Agreement with U.S. Well Services, LLC, a subsidiary of USWS Holdings, dated February 2, 2017 (the “USWS
Employment Agreement”);

 

This Agreement is being
entered into in connection with the Merger Agreement and shall become effective as of the Closing Date (the “Effective
Date”);

 

Executive’s agreement
to and compliance with this Agreement are a material factor, material inducement and material condition to the Company’s
participation in the transactions contemplated by the Merger Agreement; and

 

Following the Closing,
the Company, through USWS Holdings and its subsidiaries, will be engaged in the business of being an oilfield service provider,
providing hydraulic fracturing services and other pressure pumping services to its customers. The Company desires to employ Executive,
and Executive desires to accept such employment, on the terms and subject to the conditions set forth in this Agreement. Some of
the services provided under this Agreement will have a direct or indirect benefit to the Company Group.

 

In consideration of
the mutual promises set forth in this Agreement the parties hereto agree as follows:

 

ARTICLE
I

Term of Employment

 

If the Merger Agreement
is terminated for any reason before the Closing occurs, Executive will not be employed under this Agreement, and none of the provisions
of this Agreement will take effect and there will be no liability of any kind under this Agreement. Subject to the provisions of
Article V, and upon the terms and subject to the conditions set forth in this Agreement, the Company will employ Executive
from the Effective Date through December 31, 2021 (the “Initial Term”). After the Initial Term, this Agreement
shall automatically renew for subsequent one (1) year periods, unless the Company provides notice of non-renewal to Executive at
least sixty (60) days prior to the expiration of the then-current term (the Initial Term and any renewal term, the “Term”).
Notwithstanding anything herein to the contrary, Executive understands that his employment with the Company is not guaranteed,
and Executive may be terminated by the Company, with or without Cause (as defined in Section 5.03), at any time, subject
to the termination obligations described in Section 5.05.

 

    	

     

    

 

ARTICLE
II

Duties and Board Appointment

 

2.01         The
Company hereby employs Executive, and Executive hereby accepts employment, as the President and Chief Executive Officer of the
Company subject to the terms and conditions hereof. Executive shall have the normal duties, responsibilities and authority of such
position, subject to the power of the Board of Directors of the Company (the “Board”) to limit such duties,
responsibilities and authority and to override actions of such position. In connection with the duties to be performed pursuant
to this Agreement, Executive shall report directly to the Board. Executive will promote the interests, within the scope of his
duties, of the Company and the members of the Company Group and devote substantially his full working time and efforts to the business
and affairs of the Company and Company Group. Executive agrees to maintain a reasonable physical in-person presence at Company
locations, including its headquarters in Houston, Texas and field operating locations, provided that a majority of Executive’s
working time may be spent in Lafayette, Louisiana.

 

2.02         Notwithstanding
anything contained in Section 2.01 above to the contrary, nothing contained herein or under law shall be construed as preventing
Executive from (i) investing Executive’s personal assets in such form or manner as will not require any material personal
services on the part of Executive in the operation or the affairs of the companies in which such investments are made and in which
his participation is principally that of a passive investor; and (ii) engaging (outside normal business hours) in any other professional,
civic, or philanthropic activities, provided that Executive’s investments or engagement does not result in a violation of
his covenants under Section 2.01 or Article VI hereof.

 

2.03         Executive
shall be named to the Board concurrent with the initial formation and seating of the Board. Executive shall perform such duties
under his Board appointment for no additional compensation.

 

ARTICLE
III

Base Compensation

 

3.01         Base
Salary. The Company will compensate Executive for the duties performed by him hereunder by payment of a base salary at the
rate of eight hundred thousand dollars ($800,000.00) per annum (the “Base Salary”). The Company shall pay the
Base Salary in accordance with the Company’s regular payroll schedule, subject to customary withholding for federal, state,
and local taxes and other normal and customary withholding items. The Base Salary may be adjusted annually, in the sole discretion
of the Board, but not to be reduced unless part of a general reduction in the Company’s compensation to other named executive
officers.

 

    	 2

     

    

 

3.02        Annual
Bonus. In addition to the Base Salary:

 

(a)          For
the period of time from January 1, 2018, to the Closing, Executive shall be eligible to receive an annual bonus as provided in
the USWS Employment Agreement, calculated as year to date Adjusted EBITDA (as defined in the USWS Employment Agreement) as of the
Closing multiplied by one and a half percent (1.5%) (the “2018 Prorated Bonus”). The Company shall take reasonable
efforts to pay Executive the 2018 Prorated Bonus as soon as reasonably practicable following the Closing.

 

(b)          For
the period of time from Closing through December 31, 2018, and for each year during the Term ending after December 31, 2018, Executive
shall be eligible to participate in the U.S. Well Services, LLC Annual Incentive Plan or a similar or replacement annual incentive
plan adopted by the Board and in which other key executive employees of the Company participate (“AIP”) at the
discretion of the Board; provided that Executive shall have an annual target bonus under the AIP of one hundred twenty percent
(120%) of the Base Salary. During the fourth quarter of each calendar year, the Board shall make good faith efforts to finalize
the AIP that will be applicable for the following calendar year.

 

Except as otherwise provided herein, the
earned and vested portion of Executive’s annual bonus shall be paid to Executive during the calendar year immediately following
the performance calendar year to which the bonus relates, within 60 days following the finalization of the Company’s annual
financial statements, but no later than the last day of the calendar year in which such financial statements are finalized, provided
that Executive has remained continuously and actively employed with the Company through the date of payment, and provided further
that the Company may delay such payment if, pursuant to its reasonable judgment, the making of the payment would jeopardize the
ability of the Company to continue as a going concern. If this provision is applicable, such payment (with reasonable interest
thereon) will then occur in the first taxable year in which the making of the payment would not have such effect. To the extent
the payments under this bonus are or become subject to Section 409A of the Internal Revenue Code of 1986, as amended (“Code
Section 409A”), this provision will be administered consistent with Code Section 409A.

 

3.03        Individual
Change in Control Bonus.

 

(a)          The
Company and Executive agree that the Closing under the Merger Agreement will constitute a Sale of the Company for purposes of Section
3.03 of the USWS Employment Agreement and, accordingly, that Executive will be entitled to receive the Individual Change in Control
Bonus (as defined in the USWS Employment Agreement) as a result of the Closing, subject to the satisfaction of the vesting criteria
set forth in Section 3.03(b) of the USWS Employment Agreement and to the terms of this Section 3.03(a). Subject to the occurrence
of the Closing and to the satisfaction of such vesting criteria, the Company agrees to pay, or to cause USWS Holdings to pay, to
Executive the Individual Change in Control Bonus in accordance with Section 3.03 of the USWS Employment Agreement; provided, however,
that, notwithstanding anything in Section 3.03 of the USWS Employment Agreement to the contrary, the Company and Executive agree
that:

 

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(i)          the
aggregate amount of the Individual Change in Control Bonus shall be $7,500,000.00 (the “CIC Bonus Amount”);

 

(ii)         $6,500,000.00
of the CIC Bonus Amount shall be payable in the form of 650,000 shares of Class A Common Stock, par value $0.0001 per share (“Class
A Stock”) of the Company (based on a value of $10.00 per share of Class A Stock), and the balance of the CIC Bonus Amount—$1,000,000.00—shall
be payable in cash; and

 

(iii)        the
CIC Bonus Amount shall be paid on the Effective Date (subject to the occurrence of the Closing and to the satisfaction of such
vesting criteria).

 

Executive agrees that (A) payment of the
CIC Bonus Amount in accordance with this Section 3.03(a) will constitute satisfaction in full of all obligations of U.S.
Well Services, LLC or any of its affiliates (including USWS Holdings and each member of the Company Group) with respect to the
Individual Change of Control Bonus and (B) Executive will not be entitled to receive any other or additional amounts pursuant to
Section 3.03 of the USWS Employment Agreement.

 

(b)          Executive
represents and warrants to the Company that Executive (i) is an “accredited investor” as defined in Rule 501 of Regulation
D under the Securities Act of 1933, as amended (the “Securities Act”), (ii) is acquiring the shares of Class
A Stock deliverable pursuant to Section 3.03(a) for his own account and not with a view to a sale, distribution or other
disposition thereof in violation of the Securities Act, and (iii) understands that (A) such shares of Class A Stock have not been
registered under the Securities Act in reliance on an exemption therefrom and may not be sold, transferred, offered for sale, pledged,
hypothecated, or otherwise disposed of, except pursuant to an effective registration statement under the Securities Act or pursuant
to an exemption from the registration requirements of the Securities Act and in compliance with all applicable federal and state
securities laws and (B) any certificate representing, or book-entry notation for, such shares of Class A Stock will bear a restrictive
legend to the foregoing effect.

 

ARTICLE
IV

Reimbursement and Employment Benefits

 

4.01         Health
and Other Medical. Executive shall be eligible to participate in all health, medical, dental, and life insurance employee benefits
of the Company or another member of the Company Group in accordance with the policies as are available from time to time for other
key executive employees of the Company (and their families).

 

4.02         Vacation.
Executive shall be entitled to four (4) weeks of vacation per year, to be taken in such amounts and at such times as shall be mutually
convenient for Executive and the Company. Except as set forth in the previous sentence, the Company’s standard policies and
practices regarding vacation time will apply to Executive.

 

4.03         Reimbursable
Expenses. The Company shall in accordance with its standard policies in effect from time to time reimburse Executive for all
reasonable out-of-pocket expenses actually incurred by him in the conduct of the business of the Company provided that Executive
submits in writing all substantiation of such expenses to the Company on a timely basis in accordance with the Company’s
standard policies.

 

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4.04        Savings
Plan. Executive will be eligible to enroll and participate in all savings and retirement plans of the Company or another member
of the Company Group, including any 401(k) plans in accordance with the policies as are available from time to time for other key
executive employees of the Company.

 

ARTICLE
V

Termination

 

5.01        Events
of Termination. Executive’s compensation under Articles III and IV, and any and all other rights of Executive
under this Agreement or otherwise as an employee of the Company will terminate (except as otherwise provided in this Article
V) upon the earliest occurrence of the following events:

 

(a)          Upon
resignation of employment by Executive upon not less than thirty (30) days’ prior written notice to the Company;

 

(b)          Upon
the death of Executive;

 

(c)          Upon
the termination of employment by the Company or Executive due to the disability of Executive (as defined in Section 5.02);

 

(d)          Upon
the termination of employment by the Company for Cause, immediately upon notice from the Company to Executive, or at such later
time as such notice may specify;

 

(e)          Upon
the termination of employment by Executive for Good Reason upon not less than thirty (30) days’ prior notice from Executive
to the Company and Company’s failure to cure the “Good Reason” within the prescribed timeframe, as provided in
Section 5.04;

 

(f)           Upon
the termination of employment by the Company without Cause immediately upon notice from the Company to Executive, or at such later
time as such notice may specify; or

 

(g)          Upon
the non-renewal of this Agreement, in accordance with Article I hereof.

 

5.02        Definition
of Disability. Executive will be deemed to have a “disability” if, for physical or mental reasons, Executive is
unable to perform the essential functions of Executive’s duties under this Agreement for ninety (90) consecutive days, or
one hundred and twenty (120) days during any twelve (12) month period, as determined in accordance with this Section 5.02.
The disability of Executive will be determined by a medical doctor selected by the Company. The determination of the medical doctor
selected under this Section 5.02 will be binding on both parties. Executive must submit to a reasonable number of examinations
by the medical doctor making the determination of disability under this Section 5.02, and Executive hereby authorizes the
disclosure and release to the Company of such determination and all supporting medical records. If Executive is not legally competent,
Executive’s legal guardian or duly authorized attorney-in-fact will act in Executive’s stead, under this Section
5.02, for the purposes of submitting Executive to the examinations, and providing the authorization of disclosure, required
under this Section 5.02.

 

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5.03        Definition
of “Cause.” The term “Cause” shall mean any of the following:

 

(a)          Executive’s
failure or refusal to perform specific directives from the Board that are consistent with the scope and nature of Executive’s
duties and responsibilities under this Agreement;

 

(b)          Fraud
committed against the Company, or any member of the Company Group, or embezzlement of the funds of the Company or any member of
the Company Group;

 

(c)          Use
of drugs or other substances, which is (x) unlawful or (y) otherwise interferes with the performance of Executive’s duties
and obligations under this Agreement;

 

(d)          Executive’s
commission of or pleading guilty or no contest to a felony or to any crime involving dishonesty or fraud;

 

(e)          Any
gross or willful misconduct of Executive resulting in loss to the Company or any member of the Company Group or damages to the
reputation of the Company or any member of the Company Group;

 

(f)           Any
material breach by Executive of Executive’s covenants contained in Article VI; or

 

(g)          Any
other material breach of this Agreement by Executive.

 

No act or failure to
act on the part of Executive will be deemed “willful” if it was due primarily to an error in judgment or negligence,
but will be deemed “willful” only if done or omitted to be done by Executive not in good faith and without reasonable
belief that his action or omission was in the best interest of the Company.

 

5.04        Definition
of “Good Reason.” The phrase “Good Reason” means the Executive’s resignation of employment
within ninety (90) days of the occurrence of any of the following events: (i) the Company’s material breach of this Agreement;
(ii) the assignment of Executive, by the Company or any of its direct or indirect successors, without Executive’s consent
to a position, responsibilities, or duties of a materially lesser status or degree of responsibility than Executive’s position,
responsibilities, or duties at the Effective Date; (iii) a requirement by the Company that Executive permanently relocate outside
of the greater Lafayette, Louisiana metropolitan area (notwithstanding the foregoing, Executive acknowledges that he must maintain
a reasonable physical in-person presence at Company locations, including its headquarters in Houston, TX and field operating locations);
or (iv) any attempt on the part of the Company to require Executive to perform (or omit to perform) any act or to engage (or omit
to engage) in any conduct that would constitute illegal action or inaction on the part of Executive. Executive will provide the
Company a written notice which describes the circumstances in sufficient detail that is cause for the Good Reason termination within
thirty (30) days after the occurrence of the event. The Company will have thirty (30) days from the receipt of such notice to cure
the event prior to Executive exercising his/her right to terminate for Good Reason and, if not cured to Executive’s reasonable
satisfaction, Executive’s termination will be effective upon the expiration of such cure period.

 

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5.05        Termination
Obligations. Effective upon the termination of this Agreement (the date of any such termination being the “Termination
Date”), the Company will be obligated to pay Executive (or, in the event of his death, his designated beneficiary as
defined below) only such compensation as is provided in this Section 5.05. For purposes of this Section 5.05, Executive’s
designated beneficiary will be such individual beneficiary or trust, located at such address, as Executive may designate by notice
to the Company from time to time or, if Executive fails to give notice to the Company of such a beneficiary, Executive’s
estate. Notwithstanding the preceding sentence, the Company will have no duty, in any circumstances, to attempt to open an estate
on behalf of Executive, to determine whether any beneficiary designated by Executive is alive or to ascertain the address of any
such beneficiary, to determine the existence of any trust, to determine whether any person or entity purporting to act as Executive’s
personal representative (or the trustee of a trust established by Executive) is duly authorized to act in that capacity, or to
locate or attempt to locate any beneficiary, personal representative, or trustee. Additionally, Executive will retain any other
rights or benefits to which Executive is entitled as a matter of law (including Consolidated Omnibus Budget Reconciliation Act
coverage).

 

(a)          Termination
by Executive without Good Reason. If Executive voluntarily terminates this Agreement without Good Reason, the Company shall
have no further obligations to Executive under this Agreement other than the Company’s obligation to pay Base Salary and
any other accrued compensation or vested benefits owed to Executive as of the Termination Date. For the avoidance of doubt, this
amount does not include the yet to be earned Base Salary that Executive would have earned had his employment not terminated prior
to the expiration of the then applicable Term. The Company shall reimburse Executive for expenses incurred by Executive through
the Termination Date that are reimbursable pursuant to Section 4.03.

 

(b)          Termination
by the Company for Cause. If this Agreement is terminated by the Company for Cause, the Company shall have no further obligations
to Executive under this Agreement other than the Company’s obligation to pay Base Salary and any other accrued compensation
or vested benefits owed to Executive as of the Termination Date. For the avoidance of doubt, this amount does not include the yet
to be earned Base Salary that Executive would have earned had his employment not terminated prior to the expiration of the then
applicable Term. The Company shall reimburse Executive for expenses incurred by Executive through the Termination Date that are
reimbursable pursuant to Section 4.03. Additionally and notwithstanding any language in any long-term incentive plan or
award, including any profits interest awards, if this Agreement is terminated by the Company for Cause, Executive will be treated
as forfeiting all unvested award and any interests in any such awards.

 

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The Board may only
terminate Executive’s employment hereunder in good faith on account of Cause, or it may separately determine that any termination
is on account of Cause. Prior to such determination, however, the Board shall provide written notice to Executive, including the
reasons for the determination of Cause, and if curable, any actions necessary or appropriate to cure such determination. If the
Cause event is curable, Executive shall have the opportunity to appear before the Board to present arguments and evidence on his
behalf and , Executive shall have a reasonable period of time, not to exceed thirty (30) days, to cure any such finding of Cause
hereunder. Following such presentation, upon Executive’s failure to appear or upon Executive’s failure to cure, as
the case may be, the Board, by an affirmative vote of a majority of its members (excluding Executive), shall confirm that the actions
or inactions of Executive constitute Cause hereunder.

 

(c)          Termination
by the Company Without Cause or Termination by Executive for Good Reason. If the Company terminates the employment of Executive
prior to the end of the then applicable Term of this Agreement for any reason other than for Cause, or if Executive terminates
his employment with the Company for Good Reason prior to the end of the Term of this Agreement, Executive shall be entitled to
(i) Base Salary and any other accrued compensation or vested benefits owed to Executive as of the Termination Date (for the avoidance
of doubt, this amount does not include the yet to be earned Base Salary that Executive would have earned had his employment not
terminated prior to the expiration of the then applicable Term); (ii) a lump sum cash payment equal to two (2) times the sum of
(x) Executive’s then-current Base Salary, and (y) average annual bonus during the prior two calendar years under the AIP
(or such shorter period, as applicable), subject to applicable taxes and withholdings and payable on the sixtieth (60th)
day following the Termination Date; (iii) reimbursement for expenses incurred by Executive through the Termination Date that are
reimbursable pursuant to Section 4.03; (iv) if the Termination Date occurs after December 31 of a performance year under
the AIP but before any bonus for such performance year has been paid, such unpaid bonus under the AIP, to the extent earned, payable
in a lump sum, subject to applicable taxes and withholdings, at the time bonuses are paid under the AIP; and (v) a payment equal
to the product of (x) the target bonus under the AIP for the performance year in which the Termination Date occurs and (y) a fraction,
the numerator of which is the number of days Executive was employed by the Company during the year of termination and the denominator
of which is 365, payable in a lump sum, subject to applicable taxes and withholdings, on the sixtieth (60th) day following
the Termination Date. In addition, if Executive timely and properly elects health continuation coverage under the Consolidated
Omnibus Budget Reconciliation Act of 1985 (“COBRA”), the Company shall reimburse Executive for the monthly
COBRA premium paid by Executive for himself and his dependents. Such reimbursement shall be paid to the Executive on or before
the 15th day of the month immediately following the month in which Executive timely remits the premium payment. Executive
shall be eligible to receive such reimbursement until the earlier of: (A) the end of the 18-month period following the Termination
Date; or (B) the date Executive is no longer eligible to receive COBRA continuation coverage. Further, if and to the extent Executive
and/or his qualified beneficiaries are receiving COBRA continuation coverage under the Company’s group medical plan as of
the last day of the 18-month period described above, for an additional six month period the Company shall (I) continue such group
medical coverage for Executive and/or his qualified beneficiaries under the Company’s group medical plan under the same terms
and conditions described in this Section 5.05(c), to the extent permitted under the terms of such plan or related insurance contracts
and service agreements, or (II) provide Executive with a monthly cash payment equal to the monthly COBRA premium that would be
paid by Executive for himself and his dependents under the Company’s group medical plan, less applicable tax withholdings.
The decision of the method of providing coverage to Executive pursuant to the preceding sentence will be in the Company's sole
discretion.

 

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(d)          Termination
upon Disability. If this Agreement is terminated by either party as a result of Executive’s disability, Executive shall
be entitled to (i) Base Salary and any other accrued compensation or vested benefits owed to Executive as of the Termination Date
(for the avoidance of doubt, this amount does not include the yet to be earned Base Salary that Executive would have earned had
his employment not terminated prior to the expiration of the then applicable Term); (ii) continuation of Base Salary, subject to
applicable taxes and withholdings, for the lesser of (A) six (6) consecutive months thereafter or (B) the period until disability
insurance benefits commence under the disability insurance coverage (if any) furnished by the Company to Executive; (iii) reimbursement
for expenses incurred by Executive through the Termination Date that are reimbursable pursuant to Section 4.03; (iv) if
the Termination Date occurs after December 31 of a performance year under the AIP but before any bonus for such performance year
has been paid, such unpaid bonus under the AIP, to the extent earned, payable in a lump sum, subject to applicable taxes and withholdings,
at the time bonuses are paid under the AIP; and (v) a payment equal to the product of (x) the target bonus under the AIP for the
performance year in which the Termination Date occurs and (y) a fraction, the numerator of which is the number of days Executive
was employed by the Company during the year of termination and the denominator of which is 365, payable in a lump sum, subject
to applicable taxes and withholdings, on the sixtieth (60th) day following the Termination Date.

 

(e)          Termination
upon Death. If this Agreement is terminated because of Executive’s death, the Company shall have no further obligations
to Executive under this Agreement other than the Company’s obligation to pay Base Salary and any other accrued compensation
or vested benefits owed to Executive as of the Termination Date (for the avoidance of doubt, this amount does not include the yet
to be earned Base Salary that Executive would have earned had his employment not terminated prior to the expiration of the then
applicable Term) and to reimburse Executive’s estate for expenses incurred by Executive that are reimbursable through the
Termination Date pursuant to Section 4.03.

 

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(f)          Termination
upon Non-Renewal of Agreement. If this Agreement is terminated for non-renewal as described in Article I hereof, then
Executive shall be entitled to (i) Base Salary and any other accrued compensation or vested benefits owed to Executive as of the
Termination Date (for the avoidance of doubt, this amount does not include the yet to be earned Base Salary that Executive would
have earned had his employment not terminated prior to the expiration of the then applicable Term); (ii) a lump sum cash payment
equal to two (2) times the sum of (x) Executive’s then-current Base Salary, and (y) average annual bonus during the prior
two calendar years under the AIP (or such shorter period, as applicable), subject to applicable taxes and withholdings and payable
on the sixtieth (60th) day following the Termination Date; (iii) reimbursement for expenses incurred by Executive through
the Termination Date that are reimbursable pursuant to Section 4.03; and (iv) provided Executive remains employed by the
Company until the last day of the then-current Term, Executive shall be paid the bonus under the AIP for the performance year ending
on the last day of such Term, to the extent earned, in a lump sum, subject to applicable taxes and withholdings, no later than
the March 15 immediately following the last day of such Term. In addition, if Executive timely and properly elects health continuation
coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), the Company shall
reimburse Executive for the monthly COBRA premium paid by Executive for himself and his dependents. Such reimbursement shall be
paid to the Executive on or before the 15th day of the month immediately following the month in which Executive timely
remits the premium payment. Executive shall be eligible to receive such reimbursement until the earlier of: (A) the end of the
18-month period following the Termination Date; or (B) the date Executive is no longer eligible to receive COBRA continuation coverage.
Further, if and to the extent Executive and/or his qualified beneficiaries are receiving COBRA continuation coverage under the
Company’s group medical plan as of the last day of the 18-month period described above, for an additional six month period
the Company shall (I) continue such group medical coverage for Executive and/or his qualified beneficiaries under the Company’s
group medical plan under the same terms and conditions described in this Section 5.05(f), to the extent permitted under the terms
of such plan or related insurance contracts and service agreements, or (II) provide Executive with a monthly cash payment equal
to the monthly COBRA premium that would be paid by Executive for himself and his dependents under the Company’s group medical
plan, less applicable tax withholdings. The decision of the method of providing coverage to Executive pursuant to the preceding
sentence will be in the Company's sole discretion.

 

5.06        General.

 

(a)          Termination
of this Agreement shall not affect the obligations of Executive under Article VI hereof that, pursuant to the express provisions
of this Agreement, continue in full force and effect. Upon termination of this Agreement for any reason, Executive shall promptly
deliver to the Company all Company Group property including without limitation all writings, records, data, memoranda, contracts,
orders, sales literature, price lists, client lists, data processing materials, and other documents, whether or not obtained from
the Company Group, which pertain to or were used by Executive in connection with his employment by the Company or which pertain
to any member of the Company Group, including, but not limited to, Confidential Information (as defined below), as well as any
automobiles, computers or other furniture, fixtures or equipment which were purchased by the Company for Executive or otherwise
in Executive’s possession or control.

 

(b)          Notwithstanding
the foregoing, other than the Base Salary and any other accrued compensation or vested benefits owed to Executive as of the Termination
Date (as set forth in Sections 5.05(c)(i) or (d)(i) or (f)(i), as applicable), Executive’s right to
receive amounts payable pursuant to Sections 5.05(c) or (d) or (f) (which shall be deemed, and referred to
herein as, “Severance”) is contingent upon Executive not violating any of his on-going obligations under this
Agreement and executing and delivering to the Company, and not revoking, a complete and general release, in a form acceptable to
the Company, of all claims that Executive has or may have against the Company and its predecessors, successors, assigns, divisions,
affiliates, the Company Group, and subsidiaries, and each of their respective past, present and future owners, directors, employees,
agents and fiduciaries of employee benefit plans (the “Released Parties”) through the Termination Date, in form
and substance reasonably acceptable to the Company no later than forty-five (45) days after the Termination Date. Subject to anything
to the contrary in Sections 5.05 or 9.04, Severance, if payable, shall be paid as and when normal payroll payments are made;
provided that Executive will not receive any Severance payments prior to the sixtieth (60th) day following the Termination
Date and will be paid any amounts that would have been payable pursuant to Sections 5.05(c) or (d) or (f) on the sixtieth
(60th) day following the Termination Date. Executive expressly acknowledges and agrees that the payment of Severance
to Executive hereunder shall be liquidated damages for and in full satisfaction of any and all claims, demands, causes of action,
and liabilities or any kind whatsoever (upon any legal or equitable theory, whether contractual, common law or statutory, under
federal, state or local law or otherwise), whether known or unknown, asserted or unasserted, by reason of any act, omission, transaction,
agreement or occurrence that Executive ever had, now have or hereafter may have against the Released Parties relating to or arising
out of:

 

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(i)           Executive’s
employment with the Company, the terms and conditions of that employment, and the termination of that employment;

 

(ii)          All
claims of employment discrimination, harassment or retaliation under any federal, state or local statute or ordinance, public policy
or the common law;

 

(iii)         All
contract and quasi-contract claims, claims for promissory estoppel or detrimental reliance, claims for wages, bonuses, incentive
compensation, and severance allowances or entitlements;

 

(iv)         All
claims for employee benefits; provided, however, that nothing in this Section 5.06(b) is intended to release, diminish, or otherwise
affect any vested monies or other vested benefits to which Employee may be entitled from, under, or pursuant to any savings or
retirement plan of the Company;

 

(v)          All
claims for fraud, fraudulent inducement, slander, libel, defamation, disparagement, negligent or intentional infliction of emotional
distress, personal injury, prima facie tort, negligence, compensatory or punitive damages, or any other claim for damages or injury
of any kind whatsoever; and,

 

(vi)         All
claims for monetary recovery, including, without limitation, attorneys’ fees, experts’ fees, medical fees or expenses,
costs and disbursements and the like.

 

5.07         Representations.
Executive represents, warrants, and covenants to Company that (a) there is no other agreement or relationship which is binding
on him which prevents him from entering into or fully performing under the terms hereof and (b) the Company may contact any past,
present, or future entity with whom he has a business relationship and inform such entity of the existence of this Agreement and
the terms and conditions set forth herein.

 

ARTICLE
VI

Covenants

 

6.01         Competition/Solicitation.
Ancillary to the consideration to be provided pursuant to this Agreement, including but not limited to the Company’s promise
to provide Executive access to Confidential Information, and in order to protect the Confidential Information, during Executive’s
employment with the Company or any member of the Company Group and for a period of twenty-four (24) months after termination of
Executive’s employment with the Company or any member of the Company Group, regardless of the reason, Executive hereby covenants
and agrees that he shall not, directly or indirectly, except in connection with his duties hereunder or otherwise for the sole
account and benefit of the Company, whether as a sole proprietor, investor, partner, member, stockholder, employee, director, officer,
guarantor, consultant, independent contractor, or in any other capacity as principal or agent, or through any person, subsidiary,
affiliate, or employee acting as nominee or agent, except with the consent of the Company:

 

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(a)          Conduct
or engage in, or be interested in or associated with, any person or entity anywhere in the Market Area (other than the Company
and its affiliates) that conducts or engages in the shale fracking business;

 

(b)          Solicit,
attempt to solicit, or accept business from or otherwise service, or cause to be solicited or have business accepted from or otherwise
service, any then-current customers of Company or any member of the Company Group, any persons or entities anywhere in the Market
Area who were customers of the Company or any member of the Company Group within the three hundred sixty five (365) days preceding
the Termination Date, or any prospective customers of the Company or any member of the Company Group for whom bids were being prepared
or had been submitted as of the Termination Date; or

 

(c)          Induce,
or attempt to induce, hire or attempt to hire, or cause to be induced or hired, any employee of the Company or any member of the
Company Group, or persons who were employees of the Company or any member of the Company Group within the three hundred sixty five
(365) days preceding the Termination Date, to leave or terminate his or her employment with the Company or any member of the Company
Group, or hire or engage as an independent contractor any such employee of the Company or any member of the Company Group.

 

Notwithstanding the
foregoing, Executive shall not be prevented from (A) investing in or owning up to two percent (2%) of the outstanding stock of
any corporation engaged in a business competitive with the Company, provided that such shares are regularly traded on a national
securities exchange or in any over-the-counter market or (B) retaining any shares of stock in any corporation which Executive owned
before the date of his employment with the Company, or (C) being employed by or serving as a paid consultant to a private equity
or debt investment firm that invests in a competitive business. For the avoidance of doubt, this provision shall not prevent Executive
from being a passive investor in a private equity or debt investment firm that invests in a competitive business. For purposes
of this Agreement, “Market Area” shall mean the geographic areas set forth on Exhibit A.

 

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6.02         Confidential
Information. Executive acknowledges that in his employment he is or will be making use of, acquiring, or adding to the Company
Group’s confidential information (the “Confidential Information”) which includes, but is not limited to,
memoranda and other materials or records of a proprietary nature; technical information regarding the operations of the Company
Group; and records and policy matters relating to finance, personnel, market research, strategic planning, current and potential
customers, lease arrangements, service contracts, management, and operations. Therefore, to protect the Company Group’s Confidential
Information and to protect other employees who depend on the Company Group for regular employment, Executive agrees that he will
not in any way use any of said Confidential Information except in connection with his employment by the Company, and except in
connection with the business of the Company he will not copy, reproduce, or take with him the original or any copies of said Confidential
Information and will not directly or indirectly divulge any of said Confidential Information to anyone without the prior written
consent of the Company. Confidential Information shall not include information that is generally available to and known by the
public at the time of disclosure to Executive; provided that, such disclosure is through no direct or indirect fault of Executive
or person(s) acting on Executive’s behalf. For the avoidance of doubt, this Section 6.02 does not prohibit or restrict
Executive (or Executive’s attorney) from responding to any inquiry about the Agreement or its underlying facts and circumstances
by the Securities and Exchange Commission, the Financial Industry Regulatory Authority, any other self-regulatory organization
or governmental entity, or making other disclosures that are protected under the whistleblower provisions of federal law or regulation.
Executive understands and acknowledges that he does not need the prior authorization of the Company to make any such reports or
disclosures and that he is not required to notify the Company that he has made such reports or disclosures.

 

6.03         Inventions.
All discoveries, designs, improvements, ideas, and inventions, whether patentable or not, relating to (or suggested by or resulting
from) products, services, or other technology of the Company Group or relating to (or suggested by or resulting from) methods or
processes used or usable in connection with the business of the Company Group that may be conceived, developed, or made by Executive
during employment with the Company (hereinafter “Inventions”), either solely or jointly with others, shall automatically
become the sole property of the Company Group. Executive shall immediately disclose to the Company all such Inventions and shall,
without additional compensation, execute all assignments and other documents deemed necessary by the Company to perfect the property
rights of the Company or any affiliate therein. These obligations shall continue beyond the termination of Executive’s employment
with respect to Inventions conceived, developed, or made by Executive during employment with the Company. The provisions of this
Section 6.03 shall not apply to any Invention for which no equipment, supplies, facility, or trade secret information of
the Company or any affiliate is used by Executive and which is developed entirely on Executive’s own time, unless (a) such
Invention relates (i) to the business of the Company Group or (ii) to the actual or demonstrably anticipated research or development
of the Company Group, or (b) such Invention results from work performed by Executive for the Company Group.

 

6.04         Non-Disparagement.
For a period commencing on the Effective Date and continuing indefinitely, Executive hereby covenants and agrees that he shall
not, directly or indirectly, defame, disparage, create false impressions, or otherwise put in a false or bad light the Company,
its products or services, its business, reputation, conduct, practices, past or present employees, financial condition or otherwise.

 

6.05         Reformation.
If at the time of enforcement of any provision of this Agreement, a court shall hold that the duration, scope, or area restriction
of any provision hereof is unreasonable under circumstances now or then existing, the parties hereto agree that the maximum duration,
scope or area reasonable under the circumstances shall be substituted by the court for the stated duration, scope, or area.

 

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6.06         Remedies.
Executive acknowledges that any breach by him of the provisions of this Article VI of this Agreement shall cause irreparable
harm to the Company and that a remedy at law for any breach or attempted breach of Article VI of this Agreement will be
inadequate, and agrees that, notwithstanding Section 9.01 hereof, the Company shall be entitled to exercise all remedies
available to it, including specific performance and injunctive and other equitable relief, without the necessity of posting any
bond, in the case of any such breach or attempted breach. In the event that the Company shall file a claim alleging a breach of
the provisions of this Article VI of this Agreement, then any time period set forth in this Agreement including the time
periods set forth above, will be extended one month for each month the Executive was in breach of this Agreement, so that the Company
is provided the benefit of the full restricted covenant period.

 

6.07         Immunity
Notice. Notwithstanding any other provision of this Agreement: (x) Executive will not be held criminally or civilly liable
under any federal or state trade secret law for any disclosure of a trade secret that (i) is made: (A) in confidence to a federal
(including, without limitation, the SEC or Financial Industry Regulatory Authority), state, or local government official, either
directly or indirectly, or to an attorney; and (B) solely for the purpose of reporting or investigating a suspected violation of
law; or (ii) is made in a complaint or other document that is filed under seal in a lawsuit or other proceeding; (y) if Executive
files a lawsuit for retaliation, Executive may disclose Employer’s trade secrets to his attorney and use the trade secret
information in the court proceeding if Executive: (i) files any document containing the trade secret under seal; and (ii) does
not disclose the trade secret, except pursuant to court order; and, (z) nothing in this Agreement prevents Executive from communicating
with government agencies as permitted by law. Without prior authorization of the Company, however, the Company does not authorize
Executive to disclose to any third party (including any government official or any attorney Executive may retain) any communications
that are covered by the Company’s attorney-client privilege.

 

6.08         Return
of Company Property. Upon the expiration of the Term, and at any other time upon request of the Company, Executive shall promptly
surrender and deliver to the Company all documents (including electronically stored information) and all copies thereof and all
other materials of any nature containing or pertaining to all Confidential Information and any other Company Group property (including
any Company Group-issued computer, mobile device or other equipment) in Executive’s possession, custody or control and Executive
shall not retain any such documents or other materials or property of the Company Group.

 

ARTICLE
VII

Assignment

 

This Agreement shall
inure to the benefit of and be binding upon the Company and its successors and assigns. Except as expressly provided herein, the
rights, benefits and obligations of Executive under this Agreement are personal to Executive, and any voluntary or involuntary
alienation, assignment or transfer by Executive shall be null and void.

 

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ARTICLE
VIII

Entire Agreement

 

This Agreement supersedes
and replaces the USWS Employment Agreement effective as of the Effective Date. Except as otherwise expressly provided herein, this
Agreement constitutes the entire understanding between the Company and Executive concerning his employment by the Company or its
affiliates and supersedes any and all previous agreements between Executive and the Company or any of its affiliates or subsidiaries
concerning such employment, and/or any compensation, bonuses or incentives. Notwithstanding the foregoing, Executive acknowledges
that the terms of Sections 6.02 and 6.03 of the USWS Employment Agreement shall remain in full force and effect and such terms
shall be in addition to the terms set forth herein. This Agreement may not be changed orally, but only in a written instrument
signed by both parties hereto.

 

ARTICLE
IX

Applicable Law; Miscellaneous

 

9.01         Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Texas. All actions brought
to interpret or enforce this Agreement shall be brought in federal or state courts located in Houston, Texas. Notwithstanding the
foregoing, at the sole option of the Company, all controversies under this Agreement may be subject to resolution by arbitration.
Without limiting the generality of the foregoing, the following shall be considered controversies for this purpose: (i) all questions
relating to the interpretation or breach of this Agreement; (ii) all questions relating to any representations, negotiations, and
other proceedings leading to the execution of this Agreement; and (iii) all questions as to whether the right to arbitrate any
such question exists. Any party may, without inconsistency with this Agreement, seek from a court any interim or provisional relief
that may be necessary to protect the rights or property of that party, pending the establishment of the arbitral tribunal (or pending
the tribunal’s determination of the merits of the controversy). The tribunal shall have authority to make the final determination
of the rights of the parties, including authority to make permanent, modify, or dissolve any judicial order granting such provisional
relief. The Company, if it desires arbitration, shall so notify the other parties, identifying in reasonable detail the matters
to be arbitrated and the relief sought. Arbitration shall be before a single arbitrator with at least ten (10) years’ experience
in commercial or employment law. The American Arbitration Association (“AAA”) shall submit a list of persons
meeting the criteria outlined above, and the parties shall mutually agree upon the arbitrator. If the parties fail to select an
arbitrator as required above within twenty (20) days after delivery of notice from the party desiring arbitration, the AAA shall
appoint the arbitrator in accordance with the then-existing rules of the AAA. The arbitrator shall be entitled to a fee commensurate
with his or her fees for professional services requiring similar time and effort. All matters arbitrated hereunder shall be arbitrated
in, Houston, Texas, and shall be governed by Texas law, exclusive of its conflicts-of-laws rules. The arbitrator shall conduct
a hearing no later than sixty (60) days after designation of the tribunal, and a decision shall be rendered by the arbitrator within
thirty (30) days after the hearing. At the hearing, the parties shall present such evidence and witnesses as they may choose, with
or without counsel. Adherence to formal rules of evidence shall not be required but the arbitrator shall consider any evidence
and testimony that he or she determines to be relevant, in accordance with procedures that he or she determines to be appropriate.
Any award entered shall be made by a written opinion stating the reasons for the award made. The arbitrator may award legal or
equitable relief, including but not limited to specific performance. The arbitrator is not empowered to award damages in excess
of compensatory damages, and each party irrevocably waives any right to recover such damages with respect to any dispute resolved
by arbitration. This submission and agreement to arbitrate shall be specifically enforceable. Arbitration may proceed in the absence
of any party if notice of the proceedings has been given to such party. The parties agree to abide by all awards rendered in such
proceedings. Such awards shall be final and binding on all parties. Each party shall continue to perform its obligations under
this Agreement pending conclusion of the arbitration. No party shall be considered in default hereunder during the pendency of
arbitration proceedings relating to such default. Each party to the arbitration proceeding will bear its own costs in connection
with such arbitration proceedings, except that unless otherwise paid by the Company in accordance with such section, the costs
and expenses of the arbitrator will be divided evenly between the parties.

 

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9.02        Attorneys’
Fees.

 

(a)          In
the event of any action, claim or dispute to enforce the rights and obligations under this Agreement, each party agrees to bear
its own costs, fees, and expenses (including attorneys’ fees), regardless of the outcome of such dispute.

 

(b)          However,
the Company agrees to directly pay or reimburse Executive for reasonable attorneys’ fees (without including any non-routine
reimbursed expenses) incurred solely in the original negotiation and execution of this Agreement up to thirty thousand dollars
($30,000.00), such payment or reimbursement to be made within sixty (60) days after the Effective Date.

 

9.03        Indemnification
of Executive.

 

(a)          Executive
shall not be responsible for any of the actions of the Company prior to signing this Agreement (except such actions resulting from
the gross negligence or willful misconduct of Executive), and the Company agrees to indemnify Executive for any liability from
such prior actions of the Company (except such actions resulting from the gross negligence or willful misconduct of Executive).

 

(b)          To
the fullest extent permitted under law, the Company shall indemnify Executive in the event Executive is a party, or is threatened
to be made a party, to any threatened, pending or contemplated action, suit, or proceeding, whether civil, criminal, administrative
or investigative (other than an action by or in the right of the Company) by reason of the fact that Executive is an officer or
Board member of the Company, or is or was serving at the request of the Company as a board member, or officer (or in any capacity
equivalent to any of the foregoing) of another corporation, company, joint venture, trust or other enterprise, against expenses
(including reasonable attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred
by Executive in connection with such action, suit or proceeding if Executive acted in good faith and in a manner Executive reasonably
believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal action or proceeding,
had no reasonable cause to believe Executive’s conduct was unlawful. The termination of any action, suit or proceeding by
judgment, order, settlement, conviction or pleas of nolo contendere or its equivalent, shall not of itself create a presumption
that Executive did not act in good faith or did not act in a manner which Executive reasonably believed to be in and not opposed
to the best interests of the Company, and with respect to any criminal action or proceeding, had reasonable cause to believe that
Executive’s conduct was unlawful.

 

    	 16

     

    

 

(c)          The
indemnification described in this Section 9.03 shall be in addition to, and is not intended to be a substitute for, any indemnification
provided for by law or under the Company’s by-laws.

 

9.04        Section
409A. (a) Notwithstanding anything herein to the contrary, this Agreement is intended to be interpreted and applied so that
the payments and benefits set forth herein either shall either be exempt from or shall comply with the requirements of Code Section
409A, and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be exempt from or in compliance
with Code Section 409A.

 

(b)          To
the extent that the Company determines that any provision of this Agreement would cause Executive to incur any additional tax or
interest under Code Section 409A, the Company shall be entitled to reform such provision to attempt to comply with or be exempt
from Code Section 409A through good faith modifications. To the extent that any provision hereof is modified in order to comply
with Code Section 409A, such modification shall be made in good faith and shall, to the maximum extent reasonably possible, maintain
the original intent and economic benefit to Executive and the Company without violating the provisions of Code Section 409A.

 

(c)          Notwithstanding
any provision in this Agreement or elsewhere to the contrary, if on the Termination Date Executive is deemed to be a “specified
employee” within the meaning of Code Section 409A, any payments or benefits due upon, or within the six (6) month period
following, a termination of Executive’s employment under any arrangement that constitutes a “deferral of compensation”
within the meaning of Code Section 409A (whether under this Agreement, any other plan, program, payroll practice or any equity
grant) and which do not otherwise qualify under the exemptions under Treas. Regs. Section l.409A-1 (including without limitation,
the short-term deferral exemption and the permitted payments under Treas. Regs. Section l.409A- l (b)(9)(iii)(A)), shall be delayed
and paid or provided to Executive in a lump sum (whether they would have otherwise been payable in a single sum or in installments
in the absence of such delay during such period) on the earlier of (i) the date which is six (6) months and one (1) day after Executive’s
separation from service (as such term is defined in Code Section 409A) for any reason other than death, and (ii) the date of Executive’s
death, and any remaining payments and benefits shall be paid or provided in accordance with the normal payment dates specified
for such payment or benefit.

 

(d)          Notwithstanding
anything in this Agreement or elsewhere to the contrary, a termination of employment shall not be deemed to have occurred for purposes
of any provision of this Agreement providing for the payment of any amounts or benefits that constitute “non-qualified deferred
compensation” within the meaning of Code Section 409A upon or following a termination of Executive’s employment unless
such termination is also a “separation from service” within the meaning of Code Section 409A and, for purposes of any
such provision of this Agreement, references to a “termination,” “termination of employment” or like terms
shall mean “separation from service.” and the date of such separation from service shall be the termination date for
purposes of any such payment or benefits.

 

(e)          Each
payment under this Agreement or otherwise (including any installment payments) shall be treated as a separate payment for purposes
of Code Section 409A.

 

    	 17

     

    

 

(f)          In
no event may Executive, directly or indirectly, designate the calendar year of any payment to be made under this Agreement or otherwise
which constitutes a “deferral of compensation” within the meaning of Code Section 409A.

 

(g)          All
expenses or other reimbursements paid pursuant to this Agreement or otherwise that are taxable income to Executive shall in no
event be paid later than the end of the calendar year next following the calendar year in which Executive incurs such expense or
pays such related tax. With regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits,
to the extent required by Code Section 409A, (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation
or exchange for another benefit, (ii) the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any
taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable
year, and (iii) such payments shall be made on or before the last day of Executive’s taxable year following the taxable year
in which the expense was incurred.

 

9.05        Waiver.
No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision
of this Agreement to be performed by such other party shall be deemed a continuing waiver or a waiver of any similar or dissimilar
provisions or conditions at the same or at any prior or subsequent time. No agreements or representations, oral or otherwise, express
or implied, with respect to the subject matter hereof have been made by either party hereto which are not set forth expressly in
this Agreement.

 

9.06        Unenforceability.
The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability
of any other provision of this Agreement, which shall remain in full force and effect.

 

9.07        Counterparts.
This Agreement may be executed in several counterparts, and via facsimile or electronic mail, each of which shall be deemed to
be an original and all of which together shall constitute one and the same instrument.

 

9.08        Section
Headings. The section headings contained in this Agreement are inserted for reference purposes only and shall not affect the
meaning or interpretation of this Agreement.

 

9.09        Interpretation.
This Agreement shall be construed as a whole according to its fair meaning. It shall not be construed strictly for or against Executive
or any Released Party. Unless the context indicates otherwise, the term “or” shall be deemed to include the term “and”
and the singular or plural number shall be deemed to include the other.

 

[Signature Page Follows]

 

    	 18

     

    

 

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

 

	EXECUTIVE	 
	 	 
	/s/ Joel Broussard	 
	 	 
	Joel Broussard	Date: 7/13/2018

 

    	 

     

    

 

COMPANY

 

	/s/ David Matlin	 
	David Matlin	Date: 7/13/2018
	 	 
	Chief Executive Officer	 
	 	 
	Matlin & Partners Acquisition Corporation	 

 

    	 

     

    

 

EXHIBIT A

 

		1.	The counties in the state of Texas in which any part
of the Eagle Ford Shale or the Permian Basin or the Anadarko Basin or the Haynesville Shale is located;

		 	 

		2.	The counties in the state of Arkansas in which any part
of the Haynesville Shale is located;

		 	 

		3.	The counties in the states of West Virginia and Ohio,
and the Commonwealth of Pennsylvania in which any part of the Utica or Marcellus formations is located;

		 	 

		4.	The counties in the states of Colorado, Wyoming, Nebraska
and Kansas in which any part of the Denver-Julesburg Basin is located;

		 	 

		5.	The following Parishes in the state of Louisiana: Caddo,
Bossier, DeSoto, Sabine, Red River and Lafayette; and

		 	 

		6.	Any other areas that are within a twenty (20) mile radius
of any location where any member of the Company Group is as of the date that the Executive is no longer employed or engaged by
any member of the Company Group (i) conducting shale fracking business; or (ii) has materially developed plans to conduct
shale fracking business, provided that Executive was involved with or obtained Confidential Information about any such plans to
conduct shale fracking business during the period of the Executive’s employment or engagement by the Company or any other
member of the Company Group.

 

    	 21

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