Document:

Exhibit 10.1

 

EMPLOYMENT AGREEMENT

EMPLOYMENT AGREEMENT (the “Agreement”) dated as of the 27th day of September 2017 by and between Thomas W. Burnell, an individual residing at [                                                   ] (“Executive”) and True Nature Holding, Inc., a Delaware corporation with its principal office at 1355 Peachtree Street, Suite 1150, Atlanta, Georgia (the “Company”).

W I T N E S S E T H:

WHEREAS, the Company wishes to engage Executive as its president and chief executive officer and desires to obtain the benefits of Executive’s knowledge, skill and ability in connection with building and managing the operations of the Company and to employ Executive on the terms and conditions hereinafter set forth.

NOW, THEREFORE, in consideration of the mutual promises set forth in this Agreement, the parties agree as follows:

1.          Employment and Duties.

(a)          Subject to the terms and conditions hereinafter set forth, the Company hereby employs Executive as its president and chief executive officer during the Employment Term, as hereinafter defined, with a starting date of October 2, 2017 (the “Effective Date”).  As president and chief executive officer of the Company, Executive shall have the duties and responsibilities associated with the president and chief executive officer of a public corporation.  In addition, Executive will assist the Company in identifying and hiring a management and executive team. Executive shall report to the Company’s board of directors (the “Board”). Executive shall also perform such other duties and responsibilities as may be determined by the Board, as long as such duties and responsibilities are consistent with those of the president and chief executive officer.

(b)          Promptly following the Effective Date, the Company shall include Executive as one of the Board nominees for election as a director, and, if elected as a director, Executive shall serve as a member of the Board during the Employment Term. Additionally, Executive shall serve as a director of each of the subsidiaries of the Company, and in such executive capacity or capacities with respect to any subsidiary or affiliate of the Company, provided that such duties are consistent with those of the Company’s president and chief executive officer.  An “affiliate” of the Company shall mean any person who controls, is controlled by or is under common control with the Company, as the case may be.

(c)          The “Employment Term” shall mean the period commencing on the Effective Date and continuing for a period of thirty-six (36) months from such date, unless terminated earlier pursuant to Section 5 of this Agreement.

2.          Executive’s Performance.  Executive hereby accepts the employment contemplated by this Agreement. During the Term, Executive shall perform his duties diligently, in good faith and in a manner consistent with the best interests of the Company, and, during the Employment Term, he shall devote substantially all of his business time to the performance of his duties under this Agreement.

3.          Compensation and Other Benefits.

(a)          For his services during the Employment Term, the Company shall pay Executive a salary (“Salary”) at the annual rate of $300,000. All payments for Salary shall be payable in such installments as the Company regularly pays its executive officers, but not less frequently than

semi‐monthly; provided, that, Executive agrees and recognizes that until the earlier of (i) such time that the Company is sufficiently funded, which determination shall be made collectively by management of the Company and the Board, and (ii) ninety (90) days following the Effective Date (the “Accrual Period”), the Salary for Executive shall accrue but shall not be paid.  Immediately following the Accrual Period, all accrued but unpaid Salary shall be paid in full, and the Salary shall be paid and payable no less frequently than semi-monthly.  In the event that the Company is unable to pay the accrued Salary at the end of the Accrual Period, Executive may resign without relinquishing any right to compensation earned to date (including, without limitation, $50,000 on account of the allocable portion of the annual bonus and any of the Restricted Stock Grant the restrictions with respect thereto have lapsed).

(b)          In addition to Salary, Executive shall receive the following benefits during the Employment Term:

(i)          An annual bonus of up to $200,000, subject to Board approval and payable quarterly in four (4) equal installments over the course of each year as directed by the Board, beginning ninety (90) days following the Effective Date;

(ii)          An equity grant in the form of an aggregate of 1,000,000 shares of the Company’s common stock (collectively, the “Restricted Stock Grant”) shall be issued to the Executive on the Effective Date.  The restrictions with respect to such shares shall lapse on the dates set forth below (each, a “Lapsing Date”), provided that the Executive remains employed by the Company as of each Lapsing Date. In the event of a change of control of the Company or Executive is terminated by the Company not for Cause, or Executive resigns for Good Reason, all of the restrictions applicable to the Restricted Stock Grant as of such event shall lapse, and none of the Restricted Stock Grant shall be subject to restrictions.  Once restrictions on shares subject to the Restricted Stock Grant have lapsed, the Executive shall be free to retain, transfer, sell or otherwise convey such shares.

(A)          80,000 shares shall vest in full and be issued as a signing bonus on the Effective Date;

(B)          An aggregate of 420,000 shares shall be subject to a reverse vesting schedule of 35,000 shares per quarter beginning on January 1, 2018, and continuing for the next eleven (11) quarters thereafter;

(C)          An aggregate of 500,000 shares shall be subject to a reverse vesting schedule that comports with Executive meeting the following enumerated milestones:

(I)          100,000 shares upon receipt by the Company of a minimum of $2,000,000 in gross proceeds from a financing;

(II)          100,000 shares upon the Company securing a credit line of a minimum of $5,000,000 from a bank or institution;

(III)          150,000 shares upon the filing of the Company’s annual report on Form 10-K reflecting a minimum of $20,000,000 in revenues; and

(IV)          150,000 shares upon the filing of the Company’s annual report on Form 10-K  reflecting a minimum of $0.10 Earnings Per Share increase after tax.

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(iii)          Such insurance, including major medical health insurance and life insurance, as the Company provides its executive officers.

(iv)          Vacation in accordance with Company policy1.

(v)          Eligibility to participate in such pension and other benefit plans that are available to executive officers of the Company.

(c)          During the Employment Term, Executive shall be eligible for other such discretionary bonuses and restricted stock grants, stock options or other equity-based incentives as shall be determined by the Company’s Compensation Committee, which shall include, but not be limited, to restricted stock grants made for facilitating acquisitions.

4.          Reimbursement of Expenses.  The Company shall reimburse Executive, upon presentation of proper expense statements, for all ordinary and necessary out‐of‐pocket expenses reasonably incurred by Executive during the Employment Term in connection with the performance of his services pursuant to this Agreement in accordance with the Company’s expense reimbursement policy. Executive’s expenses shall include reasonable expenses relating to his continuing education, as reasonably determined by the Company’s Board.

5.          Termination of Employment.

(a)          This Agreement and Executive’s employment hereunder shall terminate immediately upon his death.

(b)          This Agreement and Executive’s employment can be terminated upon ten (10) days written notice from the Chairman of the Board following a vote in favor of termination from a majority of the Board.

(c)          This Agreement and Executive’s employment relationship pursuant to this Agreement, may be terminated by the Executive or the Company on not less than thirty (30) days’ written notice in the event of Executive’s Disability. The term “Disability” shall mean any illness, disability or incapacity of the Executive which prevents Executive from substantially performing his regular duties for a period of four (4) consecutive months or four months, even though not consecutive, in any twelve (12) month period.

(d)          The Company may terminate this Agreement and Executive’s employment  pursuant to this Agreement immediately for Cause, in which event no further compensation shall be payable to Executive and the Company shall have no further obligation to Executive subsequent to the date of such termination. The date of termination shall be the date of the written notice from the Company stating that Executive’s employment is terminated for Cause.

The term “Cause” shall mean:

(i)          repeated failure of Executive to perform material instructions from the Board, provided that such instructions are reasonable and consistent with Executive’s duties as set forth in Section 1 of this Agreement, or any other material failure or refusal by Executive to perform his duties required by said Section; provided, however, that Executive shall have received written notice from the Board

1 Executive has already arranged for a vacation from November 1st through the 17th but will be accessible by phone and he intends to check emails regularly.

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specifying the nature of such failure in reasonable detail and Executive shall have failed to cure the failure within five (5) business days after receipt of such notice, if cure is achievable in such timeframe, and if not, within such period during which cure is achievable;

(ii)          a material breach of Sections 6, 7 or 8 of this Agreement, provided, however, that Executive shall have received written notice from the Board specifying the nature of such breach in reasonable detail and Executive shall have failed to cure the breach within five (5) business days after receipt of such notice;

(iii)          any fraudulent or dishonest conduct by Executive or any other conduct by Executive which materially damages the Company or any of its affiliates or their property, business or reputation;

(iv)          a conviction of, or guilty plea or plea of nolo contendere by, of Executive of (x) any felony or (y) any other crime involving fraud, theft, embezzlement or use or possession of illegal substances;

(v)          the admission by Executive of any matters set forth in Section 5(c)(iv) of this Agreement; or

(vi)          as an officer of a public company which is subject to the Securities Act of 1933, as amended and the Securities Exchange Act of 1934 (collectively, the “Acts”), any action or inaction pursuant to which the Company or the Executive may be deemed to be in material violation of the Acts.

(e)           Executive may resign his employment with the Company for “Good Reason”.  For purposes of this Agreement, “Good Reason” means, without Executive’s express written consent and in each case without cure within a ten (10) day period following receipt by the Company of written notice from Executive of the event claimed to be cause for Good Reason, within forty-five (45) days of the occurrence of such event: (i) a diminution or reduction of the Executive’s duties, position, title or responsibilities relative to Executive’s duties, position or responsibilities in effect immediately prior to such diminution or reduction; (ii) a substantial reduction, without good business reasons, of the facilities and perquisites available to Executive immediately prior to such reduction; (iii) a reduction by Company of Executive’s Salary as in effect immediately prior to such reduction or a failure by the Company to pay any such amounts when due; or (iv) a material reduction by Company in the kind or level of employee benefits to which Executive is entitled immediately prior to such reduction with the result that Executive’s overall benefits package is significantly reduced.

(f)          In the event Executive resigns his employment with the Company not for Good Reason prior to the first (1st) anniversary of the Effective Date, Executive will reimburse to the Company any bonus payment made in the immediately preceding calendar quarter.

(g)          Subject to Section 5(h), in the event that the Company terminates this Agreement and Executive’s employment other than for Cause, or in the event Executive resigns his employment for Good Reason:

(i)          the Company will continue to provide Executive with his Salary for a period of six (6) months following the termination date, payable in substantially equal installments on the Company’s regularly scheduled payroll dates; provided that the first payment shall be made on the next

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regularly scheduled payroll date following the thirty-third (33rd) day following Executive’s termination date and shall include payment of any amounts that would otherwise be due prior thereto;

(ii)          any cash bonus earned with respect to a performance period or proportionate part thereof ending prior to the date of such termination but unpaid as of such date, payable at the same time in the year of termination as such payment would be made if Executive continued to be employed by the Company;

(iii)          subject to Executive’s timely election of continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), the Company shall pay the monthly amount of the COBRA continuation coverage premium under the Company’s group medical plans as in effect from time to time less the amount of Executive’s portion of the premium as if Executive was an active employee (the “Monthly Premium”) until the earliest of: (i) six (6) months following the termination date; (ii) the date Executive is no longer eligible for benefits under COBRA; or (iii) the date Executive obtains other employment that offers medical benefits (the “Benefits Period”); provided, however, if the Company’s payment of the Monthly Premium would subject the Company to any tax or penalty under the Patient Protection and Affordable Care Act or Section 105(h) of the Internal Revenue Code of 1986, as amended (the “Code”), the Company shall instead provide Executive with a taxable cash payment equal to the Monthly Premium each month during the Benefits Period which Executive may, but is not required to, utilize towards the cost of health insurance coverage; provided, further, that the first payment shall be paid on the thirty-third (33rd) day following Executive’s termination date and shall include any amounts due prior thereto; and

(iv)          all of the restrictions applicable to the Restricted Stock Grant shall lapse, and none of the Restricted Stock Grant shall be subject to vesting restrictions.

(v)          The restrictions set forth in Section 7(a) of this Agreement shall terminate.

(h)          All payments and benefits due to Executive under Section 5(g) (collectively, “Severance”) shall only be payable if Executive (or Executive’s beneficiary or estate) delivers to the Company and does not revoke (under the terms of applicable law) a general release of all claims in a form provided by the Company.  Such general release shall be delivered by the Company within five (5) days following termination and shall be executed and delivered (and no longer subject to revocation) within thirty-three (33) days following termination.  Failure to timely execute and return such release or revocation thereof shall be a waiver by Executive of Executive’s right to the Severance.  In addition, the Severance shall be conditioned on Executive’s compliance with Sections 6, 7 and 8 hereof.

6.          Trade Secrets and Proprietary Information.

(a)          Executive recognizes and acknowledges that the Company, through the expenditure of considerable time and money, has developed and will continue to develop in the future information concerning customers, clients, marketing, products, services, business, research and development activities and operational methods of the Company and its customers or clients, contracts, financial or other data, technical data or any other confidential or proprietary information possessed, owned or used by the Company, the disclosure of which could or does have a material adverse effect on the Company, its businesses, any business in which it proposes to engage, its operations, financial condition or prospects and that the same are confidential and proprietary and considered “confidential information” of the Company for the purposes of this Agreement. In consideration of his employment during the Employment Term, Executive agrees that he will not, during or after the Employment Term, without the consent of the Board or as required to fulfill his duties, make any disclosure of confidential information to any person,

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partnership, corporation or entity, except that nothing in this Agreement shall be construed to prohibit Executive from using or disclosing such confidential information(a) if such disclosure is necessary in the normal course of the Company’s business or in accordance with policies or instructions or authorization from the Board, (b) Executive can demonstrate that such information shall have (i) become public knowledge other than by or as a result of an inappropriate disclosure by Executive, (ii) been developed by Executive independent of any of the Company’s confidential or proprietary information (iii) been disclosed to Executive by a person not subject to a confidentiality agreement with or other obligation of confidentiality to the Company, or (iv) was in Executive’s possession prior to disclosure by the Company.

(b)          In the event that any confidential information is required to be produced by Executive pursuant to legal process, Executive shall give the Company notice of such legal process within a reasonable time, but not later than ten (10) business days prior to the date such disclosure is to be made, unless Executive has received less notice, in which event Executive shall immediately notify the Company.  The Company shall have the right to object to any such disclosure, and if the Company objects (at the Company’s cost and expense) in a timely manner so that Executive is not subject to penalties for failure to make such disclosure, Executive shall not make any disclosure until there has been a court or regulatory determination on the Company’s objections.  If disclosure is required by a court or regulatory order, final beyond right of review, or if the Company does not object to the disclosure, Executive shall make disclosure only to the extent that disclosure is required by the court or regulatory order, and Executive will exercise reasonable efforts at the Company’s expense, to obtain reliable assurance that confidential treatment will be accorded to such confidential information.

(c)          Executive shall, upon expiration or termination of the Employment Term, or earlier at the request of the Company, turn over to the Company or destroy all documents, papers, computer disks or other material in Executive’s possession or under Executive’s control which may contain or be derived from confidential information.  To the extent that any confidential information is on Executive’s hard drive or other storage media, he shall, cause either such information to be erased from his computer disks and all other storage media or otherwise take reasonable steps to maintain the confidential nature of the material.

(d)          Executive further realizes that any trading in the Company’s common stock or other securities or aiding or assisting others in trading in the Company’s common stock or other securities, including disclosing any non-public information concerning the Company to a person who uses such information in trading in the Company’s common stock or other securities, constitutes a violation of federal and state securities laws.  Executive will not engage in any transactions involving the Company’s common stock or other securities while in the possession of material non-public information.

For the purposes of Sections 6, 7, 8 and 9 of this Agreement, the term “Company” shall include the Company, its subsidiaries and affiliates.

7.          Covenant Not To Solicit or Compete.

(a)          During the period from the Effective Date until one (1) year following the date on which Executive’s employment is terminated, Executive will not, directly or indirectly:

(i)          persuade or attempt to persuade any person or entity which is or was a customer, client or supplier of the Company to cease doing business with the Company, or to reduce the amount of business it does with the Company (the terms “supplier” “customer” and “client” as used in this Section 7 to include any potential customer or client to whom the Company submitted bids or proposals, or with whom the Company conducted negotiations, during the twelve (12) months preceding the termination of

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his employment, and actual suppliers, customers and clients of the Company during the twelve (12) months preceding the termination of his employment);

(ii)          solicit for himself or any other person or entity other than the Company the business of any person or entity which is a customer or client of the Company;

(iii)          persuade or attempt to persuade any employee of the Company, or any individual who was an employee of the Company during the one (1) year period prior to the termination of this Agreement, to leave the Company’s employ, or to become employed by any person or entity other than the Company; or

(iv)          engage in any business in the United States whether as an officer, director, consultant, partner, guarantor, principal, agent, employee, advisor or in any manner, which directly competes with the business of the Company as it is engaged in at the time of the termination of this Agreement, unless, at the time of such termination or thereafter during the period that the Executive is bound by the provisions of this Section 7, the Company ceases to be engaged in such activity, provided, however, that nothing in this Section 7 shall be construed to prohibit the Executive from owning an interest of not more than five (5%) percent of any public company engaged in such activities.

(b)          Executive will not, during or after the Employment Term, make any disparaging statements concerning the Company, its business, officers, directors and employees that could injure, impair, damage or otherwise affect the relationship between the Company, on the one hand, and any of the Company’s employees, suppliers, customers, clients or any other person with which the Company has or may conduct business or otherwise have a business relationship of any kind and description.  Nothing herein will limit Executive from responding or advocating a position in a legal proceeding, or as a matter of law, or as compelled by subpoena or legal process.  The Company will not make any disparaging statements concerning Executive; provided, however, that this sentence shall not be construed to prohibit the Company from giving factual information concerning Executive in response to inquiries that the Company believes are bona fide.

(c)          The Executive acknowledges that the restrictive covenants (the “Restrictive Covenants”) contained in Sections 6 and 7 of this Agreement are a condition of his employment is reasonable and valid in geographical and temporal scope and in all other respects. If any court determines that any of the Restrictive Covenants, or any part of any of the Restrictive Covenants, is invalid or unenforceable, the remainder of the Restrictive Covenants and parts thereof shall not thereby be affected and shall remain in full force and effect, without regard to the invalid portion. If any court determines that any of the Restrictive Covenants, or any part thereof, is invalid or unenforceable because of the geographic or temporal scope of such provision, such court shall have the power to reduce the geographic or temporal scope of such provision, as the case may be, and, in its reduced form, such provision shall then be enforceable.

8.          Inventions and Discoveries. Executive agrees promptly to disclose in writing to the Company any invention, design, system, process, development or other discovery or intellectual property (collectively, “inventions and discoveries”) conceived, created or made by his during the Employment Term, whether created or developed by himself or with others, whether during or after working hours, in any business in which the Company is then engaged or which otherwise relates to any product or service dealt in by the Company and such inventions and discoveries shall be the Company’s sole property, regardless of whether such inventions and discoveries are otherwise treated as work performed for hire and regardless of whether such inventions and discoveries are or can be patented, registered or

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copyrighted. Upon the Company’s request and at the Company’s expense, Executive shall execute and assign to the Company all applications for copyrights, trademarks and letters patent of the United States and such foreign countries as the Company may designate, and Executive shall execute and deliver to the Company such other instruments as the Company deems necessary to vest in the Company the sole ownership of all rights, title and interest in and to such inventions and discoveries, as well as all copyrights and/or patents. Executive shall also give the Company all assistance it may reasonably require, including the giving of testimony in any suit, action, investigation or other proceeding in connection with the foregoing.

9.          Injunctive Relief. Executive agrees that his violation or threatened violation of any of the provisions of Sections 6, 7 or 8 of this Agreement may cause immediate and irreparable harm to the Company. In the event of any breach of any of said provisions, the Company may seek preliminary and permanent injunctions by a court of competent jurisdiction prohibiting Executive from any violation or threatened violation of such provisions and compelling Executive to comply with such provisions. This Section 9 shall not affect or limit, and the injunctive relief provided in this Section 9 shall be in addition to, any other remedies available to the Company at law or in equity or in arbitration for any such violation by Executive. Subject to Section 7(c) of this Agreement, the provisions of Sections 6, 7, 8 and 9 of this Agreement shall survive any termination of this Agreement and Executive’s employment pursuant to this Agreement.

10.          Indemnification. Upon entering into this Agreement, the Company shall indemnify the Executive  to such extent that it indemnifies all of its officers and directors.

11.          Representations by the Parties.

(a)          Executive represents, warrants, covenants and agrees that he has a right to enter into this Agreement, that he is not a party to any agreement or understanding, oral or written, which would prohibit performance of his obligations under this Agreement, and that he will not use in the performance of his obligations hereunder any proprietary information of any other party which he is legally prohibited from using.

(b)          The Company represents, warrants and agrees that it has full power and authority to execute and deliver this Agreement and perform its obligations hereunder.

12.          Withholding.  The Company shall be entitled to withhold from any amounts to be paid or benefits provided to Executive hereunder any federal, state or local withholding, FICA and FUTA contributions, or other taxes, charges or deductions which it is from time to time required to withhold.

13.          Section 409A.

(a)          The parties agree that this Agreement shall be interpreted to comply with or be exempt from Section 409A of the Code and the regulations and guidance promulgated thereunder to the extent applicable (collectively “Code Section 409A”), and all provisions of this Agreement shall be construed in a manner consistent with the requirements for avoiding taxes or penalties under Code Section 409A.  In no event whatsoever will the Company be liable for any additional tax, interest or penalties that may be imposed on Executive under Code Section 409A or any damages for failing to comply with Code Section 409A.

(b)          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 considered

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“nonqualified deferred compensation” under Code Section 409A upon or following a termination of 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.” If Executive is deemed on the date of termination to be a “specified employee” within the meaning of that term under Code Section 409A(a)(2)(B), then with regard to any payment or the provision of any benefit that is considered nonqualified deferred compensation under Code Section 409A payable on account of a “separation from service,” such payment or benefit shall be made or provided at the date which is the earlier of (i) the expiration of the six (6)-month period measured from the date of such “separation from service” of Executive, and (ii) the date of Executive’s death (the “Delay Period”).  Upon the expiration of the Delay Period, all payments and benefits delayed pursuant to this Section 13(b) (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed on the first business day following the expiration of the Delay Period to Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein.

(c)          With regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits, except as permitted 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, provided, that, this clause (ii) shall not be violated with regard to expenses reimbursed under any arrangement covered by Internal Revenue Code Section 105(b) solely because such expenses are subject to a limit related to the period the arrangement is in effect 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 occurred.

(d)          For purposes of Code Section 409A, Executive’s right to receive any installment payments pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments.  Whenever a payment under this Agreement specifies a payment period with reference to a number of days (e.g., “payment shall be made within thirty (30) days following the date of termination”), the actual date of payment within the specified period shall be determined at the reasonable discretion of the Company.

14.          Miscellaneous.

(a)          Executive will cooperate with the Company in connection with the Company’s application to obtain key-person life insurance on his life, on which the Company will be the beneficiary. Such cooperation shall include the execution of any applications or other documents requiring his signature and submission of insurance applications and submission to a physical.

(b)          Any notice, consent or communication required under the provisions of this Agreement shall be given in writing and sent or delivered by hand, overnight courier or messenger service, against a signed receipt or acknowledgment of receipt, or by registered or certified mail, return receipt requested, or telecopier or similar means of communication if receipt is acknowledged or if transmission is confirmed by mail as provided in this Section 12(b), to the parties at their respective addresses set forth at the beginning of this Agreement or by email to the Company counsel at acataneo@sheppardmullin.com or to Executive at twb84husker@gmail.com, with notice to the Company being sent to the attention of the individual who executed this Agreement on its behalf. Any party may, by like notice, change the person, email address, physical address or telecopier number to which notice is to be sent.

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(c)          This Agreement shall in all respects be construed and interpreted in accordance with, and the rights of the parties shall be governed by, the laws of the State of New York without regard to principles of conflicts of laws except that the provisions of Section 10, as it relates to the Company shall be governed by the Delaware General Corporation law.

(d)          Except for actions, suits, or proceedings taken pursuant to or under Section 6, 7, 8 or 9 of this Agreement, any dispute concerning this Agreement or the rights of the parties hereunder shall be submitted to binding arbitration in New York before a single arbitrator jointly selected by the parties under the rules of the American Arbitration Association. If the parties shall be unable to agree upon an arbitrator, then each party shall designate one arbitrator and the two arbitrators shall select a third single arbitrator.  The award of the arbitrator shall be final, binding and conclusive on all parties, and judgment on such award may be entered in any court having jurisdiction. The arbitrator shall have the power, in his or his discretion, to award counsel fees and costs to the prevailing party.

(e)          If any term, covenant or condition of this Agreement or the application thereof to any party or circumstance shall, to any extent, be determined to be invalid or unenforceable, the remainder of this Agreement, or the application of such term, covenant or condition to parties or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected thereby and each term, covenant or condition of this Agreement shall be valid and be enforced to the fullest extent permitted by law, and any court or arbitrator having jurisdiction may reduce the scope of any provision of this Agreement, including the geographic and temporal restrictions set forth in Section 7 of this Agreement, so that it complies with applicable law.

(f)          This Agreement constitutes the entire agreement of the Company and Executive as to the subject matter hereof, superseding all prior or contemporaneous written or oral understandings or agreements, including any and all previous employment agreements or understandings, all of which are hereby terminated, with respect to the subject matter covered in this Agreement; his Agreement may not be modified or amended, nor may any right be waived, except by a writing which expressly refers to this Agreement, states that it is intended to be a modification, amendment or waiver and is signed by both parties in the case of a modification or amendment or by the party granting the waiver. No course of conduct or dealing between the parties and no custom or trade usage shall be relied upon to vary the terms of this Agreement. The failure of a party to insist upon strict adherence to any term of this Agreement on any occasion shall not be considered a waiver or deprive that party of the right thereafter to insist upon strict adherence to that term or any other term of this Agreement.

(g)          No party shall have the right to assign or transfer any of its or his rights hereunder except that the Company’s rights and obligations may be assigned in connection with a merger of consolidation of the Company or a sale by or the Company of all or substantially all of its business and assets.

(h)          This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, successors, executors, administrators and permitted assigns.

(i)          The headings in this Agreement are for convenience of reference only and shall not affect in any way the construction or interpretation of this Agreement.

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

TRUE NATURE HOLDING, INC.

 

By:                                                                           

Name:  Dr. Jordan Balencic

Title:    Chairman

 

EXECUTIVE:

 

                                                                        

Thomas W. Burnell

 

 

 

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 Exhibit 10.1 

REGISTRATION RIGHTS AGREEMENT 

This REGISTRATION RIGHTS AGREEMENT (the “Registration Rights Agreement”), dated as of October 2, 2017, is entered
into by and between Forum Energy Technologies, Inc., a Delaware corporation (the “Company”), and Q-GT (V) Investment Partners, LLC, a Delaware limited liability company
(“Quantum” and, together with the Company, the “Parties”). 
 WHEREAS, in connection with,
and in consideration of, the transactions contemplated by that certain Purchase and Sale Agreement (the “Purchase and Sale Agreement”), dated as of August 25, 2017, by and among the Company, Quantum and Global Tubing,
LLC, a Delaware limited liability company, Quantum has requested, and the Company has agreed to provide, registration rights with respect to the Registrable Securities (as hereinafter defined) as set forth in this Registration Rights Agreement. 

NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein, and for good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged by each party hereto, the Parties hereby agree as follows: 

1.    Definitions. In addition to the terms defined elsewhere in this Registration Rights Agreement, when used in
this Registration Rights Agreement the following terms shall have the meanings indicated. 
 “Additional Demand
Registration” has the meaning set forth in Section 2(j) below. 
 “Affiliate”
means with respect to a particular Person, any Person Controlling, Controlled by, or Under Common Control with such Person. 

“Automatic Shelf Registration Statement” means an “automatic shelf registration statement” as defined in
Rule 405 promulgated under the Securities Act. 
 “Block Trade” has the meaning set forth in
Section 2(i) below. 
 “Board” means the board of directors of the Company. 

“Business Day” means any day other than a Saturday, a Sunday, or a holiday on which banks are authorized or required
by Law to close in the city of Houston, Texas. 
 “Common Stock” means the common stock, par value $0.01 per share,
of the Company. 
 “Company” has the meaning set forth in the Preamble above. 

“Company Notice” has the meaning set forth in Section 2(c) below. 

“Control” (including the correlative terms “Controlling”, “Controlled
by” and “Under Common Control”) means possession, directly or indirectly, of the power to direct or cause the direction of management or policies (whether through ownership of securities or any partnership or
other ownership interest, by contract or otherwise) of a Person. 
 “Demand Holder” means Quantum and each
transferee of Registrable Securities directly or indirectly (in a chain of title) from Quantum if such transferee to whom the right to request the Underwritten Shelf Takedown under Section 2(a) has been expressly assigned
in writing directly or indirectly (in a chain of title) from Quantum as permitted by Section 9 hereof. 

“Demand Notice” has the meaning set forth in Section 2(c) below. 

“Determination Date” has the meaning set forth in Section 2(a)(iv) below. 

“Disposing Holders” has the meaning set forth in Section 10 below. 

 

 “End of Suspension Notice” has the meaning set forth
in Section 4(c)(i) below. 
 “Exchange Act” means the Securities Exchange Act of 1934, as
amended from time to time. 
 “Existing Registration Rights Agreement” has the meaning set forth in
Section 2(h) below. 
 “FINRA” means the Financial Industry Regulatory Authority, Inc.

 “Follow-On Shelf” has the meaning set forth in
Section 2(g)(i) below. 
 “Follow-On Registration
Notice” has the meaning set forth in Section 2(g)(i) below. 
 “Holder” means
(a) Quantum until Quantum ceases to hold any Registrable Securities, (b) any Affiliate of Quantum if such Affiliate holds Registrable Securities and until such Affiliate ceases to hold any Registrable Securities and (c) any holder of
Registrable Securities to whom registration rights conferred by this Registration Rights Agreement have been transferred in compliance with Section 9 below; provided, however, that a Person shall cease to be a Holder
if and when (i) such Person owns Common Stock representing less than 2% of the outstanding Common Stock, (ii) such Person may dispose of all Registrable Securities then owned by such Person without restriction and without the need for
current public information pursuant to Rule 144(b) (or any successor rule) under the Securities Act and (iii) any legend ordinarily included on restricted securities of the Company has been removed from the certificates or book-entries
evidencing any Registrable Securities then owned by such Person, and, if the foregoing clauses (i) through (iii) have been satisfied, the Registrable Securities owned by such Person shall cease to be Registrable Securities. 

“Indemnified Party” has the meaning set forth in Section 7(c) below. 

“Indemnifying Party” has the meaning set forth in Section 7(c) below. 

“Inspectors” has the meaning set forth in Section 5(j) below. 

“Law” means any applicable constitutional provision, statute, act, code, law, regulation, rule, ordinance, order,
decree, ruling, proclamation, resolution, judgment, decision, declaration, or interpretative or advisory opinion or letter of a governmental authority. 

“Lock-Up Period” has the meaning set forth in
Section 4(a) below. 
 “Other Holders” has the meaning set forth in
Section 3(c) below. 
 “Parties” has the meaning set forth in the Preamble above. 

“Person” means any natural person, limited liability company, corporation, limited partnership, general partnership,
joint stock company, joint venture, association, company, trust, bank trust company, land trust, business trust, or other organization, whether or not a legal entity, and any government or agency or political subdivision thereof. 

“Piggyback Takedown” has the meaning set forth in Section 3(a) below. 

“Purchase and Sale Agreement” has the meaning set forth in the Recitals above. 

“Quantum” has the meaning set forth in the Preamble above. 

“Records” has the meaning set forth in Section 5(j) below. 

“Registrable Securities” means the Common Stock issued to Quantum pursuant to the Purchase and Sale Agreement and any
other securities issued or issuable with respect to such securities by way of a stock dividend or stock split or in connection with a combination of shares, recapitalization, merger, consolidation or reorganization; provided, that any
Registrable Security will cease to be a Registrable Security when (a) a registration statement covering such Registrable Security has become effective, or has been declared effective by the SEC, and it has been disposed of pursuant to such
effective registration statement, (b) it is sold under circumstances in which all of the applicable conditions of Rule 144 (or any similar provisions then in force) under the Securities Act are met or (c) it is held by a Person that is not
a Holder in accordance with the provisos to the definition of Holder provided for herein. 

  
 2 

 “Registration Expenses” has the meaning set forth in
Section 6 below. 
 “Registration Rights Agreement” has the meaning set forth in the
Preamble above. 
 “Registration Statement” means any registration statement filed hereunder or in connection with a
Piggyback Takedown. 
 “Requesting Holders” means a Holder who requests the Underwritten Shelf Takedown or a Block
Trade. 
 “SCF” means SCF-V, L.P., a Delaware limited partnership, SCF-VI, L.P., a Delaware limited partnership, and SCF-VII, L.P., a Delaware limited partnership, and if any of SCF-V, L.P., SCF-VI, L.P. or SCF-VII, L.P. has Transferred Common Stock or Common Stock Equivalents (as defined in the Existing Registration Rights Agreement) to one or more of its
Affiliates or if any Affiliate of any of SCF-V, L.P., SCF-VI, L.P. or SCF-VII, L.P. has acquired Common Stock or Common Stock
Equivalents (as defined in the Existing Registration Rights Agreement) from the Company, then in any such case such Affiliates. 

“SCF Shares” means Common Stock held by SCF that are “Registrable Securities” under the Existing
Registration Rights Agreement. 
 “SEC” means the Securities and Exchange Commission or any successor governmental
agency. 
 “Securities Act” means the Securities Act of 1933, as amended from time to time. 

“Selling Holder” means a Holder who is selling Registrable Securities pursuant to a registration statement under the
Securities Act. 
 “Shelf Registration” means a registration of securities pursuant to a registration statement
filed with the SEC in accordance with and pursuant to Rule 415 promulgated under the Securities Act (or any successor rule then in effect). 

“Shelf Registration Statement” means a registration statement to permit the public resale of the Registrable
Securities. 
 “Shelf Takedown” means either the Underwritten Shelf Takedown or a Piggyback Takedown. 

“Stockholders Agreement” has the meaning set forth in Section 2(h) below. 

“Suspension Notice” has the meaning set forth in Section 4(c)(i) below. 

“Tinicum” means Tinicum L.P., a Delaware limited partnership, and if Tinicum L.P. has Transferred Common Stock or
Common Stock Equivalents (as defined in the Existing Registration Rights Agreement) to one or more of its Affiliates or if any Affiliate of Tinicum L.P. has acquired Common Stock or Common Stock Equivalents (as defined in the Existing Registration
Rights Agreement) from the Company, then in any such case such Affiliates. 
 “Tinicum Shares” means Common Stock
held by Tinicum that are “Registrable Securities” under the Existing Registration Rights Agreement. 
 “Underwritten
Shelf Takedown” has the meaning set forth in Section 2(b) below. 

“Underwriter” means a securities dealer which purchases any Registrable Securities as principal and not as part of
such dealer’s market-making activities. 
 “Well-Known Seasoned Issuer” means a “well-known seasoned
issuer” as defined in Rule 405 promulgated under the Securities Act and which (a) is a “well-known seasoned issuer” under paragraph (1)(i)(A) of such definition or (b) is a “well-known seasoned issuer” under
paragraph (1)(i)(B) of such definition and is also eligible to register a primary offering of its securities relying on General Instruction I.B.1 of Form S-3 or Form F-3
under the Securities Act. 

  
 3 

	2.	Shelf Registrations.  

  

	 	(a)	Filing. 

 i.    If the Company is a Well-Known
Seasoned Issuer on the Business Day following the closing of the transaction contemplated by the Purchase and Sale Agreement, then the Company (x) shall prepare and file, no later than three (3) Business Days following the closing of the
transaction contemplated by the Purchase and Sale Agreement, an Automatic Shelf Registration Statement to permit the public resale of all of the Registrable Securities in accordance with the terms of this Registration Rights Agreement and
(y) shall use its commercially reasonable efforts to cause such Automatic Shelf Registration Statement to remain effective thereafter until there are no longer any Registrable Securities. The Company shall give written notice of filing such
Registration Statement to all of the Holders as promptly as practicable thereafter. 
 ii.    If the
Company is not a Well-Known Seasoned Issuer on the Business Day following the closing of the transaction contemplated by the Purchase and Sale Agreement, then the Company (x) shall prepare and file, no later than three (3) Business Days
following the closing of the transaction contemplated by the Purchase and Sale Agreement, a Shelf Registration Statement on Form S-3 to permit the public resale of all of the Registrable Securities in
accordance with the terms of the Registration Rights Agreement and (y) shall use commercially reasonable efforts to cause the Shelf Registration Statement to be declared effective under the Securities Act as promptly as practicable, but in no
event more than two (2) Business Days after the date that is thirty (30) days following the filing thereof (or ninety (90) days following the filing thereof if the SEC notifies the Company that it will “Review” the Shelf
Registration Statement) and (z) shall use commercially reasonable efforts to cause such Shelf Registration Statement to remain effective thereafter until there are no longer any Registrable Securities. 

iii.    Upon the Company becoming a Well-Known Seasoned Issuer, the Company (i) shall give written
notice to all of the Holders as promptly as practicable but in no event later than three (3) Business Days thereafter, and such notice shall describe, in reasonable detail, the basis on which the Company has become a Well-Known Seasoned Issuer,
and (ii) shall, as promptly as practicable, register, under an Automatic Shelf Registration Statement, the sale of all of the Registrable Securities in accordance with the terms of this Registration Rights Agreement; provided, that
the obligation in this Section 2(a)(iii) shall not apply with respect to Registrable Securities included in an effective Registration Statement. The Company shall use its commercially reasonable efforts to file such
Automatic Shelf Registration Statement as promptly as practicable, but in no event later than five (5) Business Days after it becomes a Well-Known Seasoned Issuer, and to cause such Automatic Shelf Registration Statement to remain effective
thereafter until there are no longer any Registrable Securities. The Company shall give written notice of filing such Registration Statement to all of the Holders as promptly as practicable thereafter.

iv.    At any time after the filing of an Automatic Shelf Registration Statement by the Company, if the
Company is no longer a Well-Known Seasoned Issuer (the “Determination Date”), within ten (10) Business Days after such Determination Date, the Company shall (A) give written notice thereof to all of the Holders
and (B) file a Registration Statement on an appropriate form (or a post-effective amendment converting the Automatic Shelf Registration Statement to an appropriate form) covering all of the Registrable Securities, and use commercially
reasonable efforts to have such Registration Statement declared effective as promptly as practicable (but in no event more than thirty (30) days) after the date the Automatic Shelf Registration Statement is no longer useable by the Holders to
sell their Registrable Securities. 
 v.    Notwithstanding anything to the contrary contained herein, in
any Shelf Registration Statement filed pursuant to this Section 2(a), the Company shall be permitted to register the public resale of all or a portion of the SCF Shares or the Tinicum Shares. 

(b)    Requests for Underwritten Shelf Takedown. At any time and from time to time after the Shelf Registration
Statement has been declared effective by the SEC, any one or more Demand Holders may request to sell all or any portion of their Registrable Securities in an underwritten offering that is registered pursuant to the Shelf Registration Statement
(the “Underwritten Shelf Takedown”); provided that in the case of the Underwritten Shelf Takedown such Demand Holder or Demand Holders will be entitled to make such demand only if the total offering price of the
shares to be sold in such offering (including piggyback shares and before deduction of underwriting discounts) is reasonably expected to exceed, in the aggregate, $20 million. 

  
 4 

 (c)    Demand Notices. Any requests for the Underwritten Shelf
Takedown shall be made by giving written notice to the Company (the “Demand Notice”). The Demand Notice shall specify the approximate number of Registrable Securities to be sold in the Underwritten Shelf Takedown and the
expected price range (net of underwriting discounts and commissions) of the Underwritten Shelf Takedown. Within five (5) days after receipt of any Demand Notice, the Company shall give written notice of the requested Underwritten Shelf Takedown
(the “Company Notice”) to all other Holders of Registrable Securities and, subject to the provisions of Section 2(d) hereof, shall include in the Underwritten Shelf Takedown all
Registrable Securities with respect to which the Company has received written requests for inclusion therein within ten (10) days after sending the Company Notice. 

(d)    Priority on Underwritten Shelf Takedown. If securities to be sold for the account of any Person (including
the Company) other than a Requesting Holder are desired to be included in the Underwritten Shelf Takedown and if the managing underwriters for the Underwritten Shelf Takedown advise the Company in writing that in their opinion the number of
Registrable Securities and, if permitted hereunder, other securities requested to be included in the Underwritten Shelf Takedown, exceeds the number of Registrable Securities and other securities, if any, which can be sold in an orderly manner in
such offering within a price range acceptable to the Holders of a majority of the Registrable Securities requested to be included in the Underwritten Shelf Takedown, the Company shall include in the Underwritten Shelf Takedown the number of
Registrable Securities which can be so sold in the following order of priority: (i) first, the Registrable Securities requested to be included in the Underwritten Shelf Takedown, which in the opinion of such underwriter can be sold in an
orderly manner within the price range of such offering, pro rata among the respective Holders of such Registrable Securities on the basis of the number of Registrable Securities requested to be included therein by each such Holder, (ii) second,
securities requested to be included therein by SCF pursuant to the Existing Registration Rights Agreement, (iii) third, securities requested to be included therein by Tinicum pursuant to the Existing Registration Rights Agreement,
(iv) fourth, the securities the Company proposes to sell, and (v) fifth, the other securities requested to be included in the Underwritten Shelf Takedown to the extent permitted hereunder. 

(e)    Restrictions on Underwritten Shelf Takedown. The Company shall not be obligated to effect more than one
Underwritten Shelf Takedown pursuant to this Agreement and shall not be obligated to effect the Underwritten Shelf Takedown within 60 days after the pricing of (i) a primary offering of Common Stock by the Company or (ii) a Demand
Registration (as defined in the Existing Registration Rights Agreement) pursuant to the Existing Registration Rights Agreement; provided that if in connection with clauses (i) or (ii) hereof the Company is subject to a lock-up agreement shorter than 60 days, or if the Company is party to and released from a lock-up agreement, the foregoing restriction shall not apply beyond the date of
expiration or earlier release of the Company’s lock-up agreement. 

(f)    Selection of Underwriters. If the Requesting Holder so indicates, the Requesting Holder shall have the right
to select the investment banker(s) and manager(s) to administer the offering (which shall consist of one (1) or more reputable, nationally-recognized investment banks), subject to the Company’s approval which shall not be unreasonably
withheld, conditioned or delayed. 
  

	 	(g)	Additional Selling Stockholders and Additional Registrable Securities. 

i.    If the Company is not a Well-Known Seasoned Issuer, within thirty (30) days after a written
request by a Demand Holder to register for resale any additional Registrable Securities owned by such Holders not included in an effective Registration Statement, the Company shall file a Registration Statement substantially similar to the Shelf
Registration Statement then effective, if any (each, a “Follow-On Shelf”), to register for resale such Registrable Securities. The Company shall give written notice of the filing of the
Follow-On Shelf at least 25 days prior to filing the Follow-On Shelf to all Holders of Registrable Securities (the
“Follow-On Registration Notice”) and shall include in such Follow-On Shelf all Registrable Securities with respect to which the Company has
received written requests for inclusion therein within ten (10) days after sending the Follow-On Registration Notice. Notwithstanding the foregoing, the Company shall not be required to file a Follow-On Shelf (x) if the aggregate amount of Registrable Securities requested to be registered on such Follow-On Shelf by all

  
 5 

 
Holders that have not yet been registered represent less than 1% of the then outstanding Common Stock or (y) if the Company is not then eligible for use of Form S-3 for secondary offerings and the Company has filed a Follow-On Shelf in the prior 180 days. The Company shall use commercially reasonable efforts to cause such Follow-On Shelf to be declared effective as promptly as practicable and in any event within thirty (30) days of filing such Follow-On Shelf (or (90) days if the SEC
elects to review the filing). Any Registrable Securities requested to be registered pursuant to this Section 2(g)(i) that have not been registered on a Shelf Registration Statement or pursuant to
Section 3 below at the time the Follow-On Shelf is filed shall be registered pursuant to such Follow-On Shelf. 

ii.    If the Company is a Well-Known Seasoned Issuer, within ten (10) Business Days after a written
request by one or more Demand Holders to register for resale any additional Registrable Securities owned by such Holders, the Company shall make all necessary filings to include such Registrable Securities in the Automatic Shelf Registration
Statement filed pursuant to Section 2(a). 
 iii.    If a Shelf Registration Statement or
Automatic Shelf Registration Statement is effective, within five (5) Business Days after written request therefor by a Holder of Registrable Securities, the Company shall file a prospectus supplement or current report on Form 8-K to add such Holder as a selling stockholder in such Shelf Registration Statement or Automatic Shelf Registration Statement to the extent permitted under the rules and regulations promulgated by the SEC. 

(h)    Other Registration Rights. Except for the Registration Rights Agreement attached as Exhibit B to that certain
Amended and Restated Stockholders Agreement, dated as of August 2, 2010 (the “Stockholders Agreement”), by and among the Company and the persons listed as “Stockholders” on the signature pages to the
Stockholders Agreement (as such Registration Rights Agreement has been amended, the “Existing Registration Rights Agreement”), and the Stockholders Agreement, the Company represents and warrants that it is not a party to, or
otherwise subject to, any other agreement granting registration rights to any other Person with respect to any securities of the Company. The Company represents that the holders of piggyback registration rights under the Existing Registration Rights
Agreement have consented in writing to the Company’s entry into this Registration Rights Agreement, including Section 2(d), Section 3(b) and
Section 3(c) with respect to priority, and, except as set forth in Section 2(a)(v), waived any piggyback registration right with respect to the filing of any Shelf Registration Statement
pursuant to Section 2(a) hereof. 
 (i)    Block Trades. Notwithstanding anything
contained in this Section 2, in the event a sale of Registrable Securities is an underwritten transaction requiring the involvement of the Company but not involving (i) any “road show” or (ii) a lock-up agreement of more than 45 days to which the Company is a party, and which is commonly known as a “block trade” (a “Block Trade”), (1) the requesting Holder shall
(i) give at least four (4) Business Days prior notice in writing of such transaction to (A) the Company and (B) any holder of Registrable Securities that is a party to this Registration Rights Agreement and (x) holds more
than 5% of the Common Stock if able to be identified through public filings or (y) is identified by the Company as an Affiliate of the Company and (ii) with respect to any Block Trade, identify the potential underwriter(s) in such notice
with contact information for such underwriter(s); and (2) the Company shall cooperate with such requesting Holder or Holders to the extent it is reasonably able and shall not be required to give notice thereof to other Holders of Registrable
Securities or permit their participation therein unless reasonably practicable. Any Block Trade shall be for at least $5 million in expected gross proceeds. The Company shall not be required to effectuate more than three Block Trades in any 90-day period. For the avoidance of doubt, a Block Trade shall not constitute an Underwritten Shelf Takedown. 

(j)    Additional Demand Registration. Subject to the provisions hereof, if at any time the Company ceases to be
eligible under applicable law to register resales of Registrable Securities on a Shelf Registration Statement, any one or more Demand Holders shall have the right to require the Company to file a Registration Statement registering for sale all or
part of the Registrable Securities of such Demand Holder under the Securities Act (an “Additional Demand Registration”) by delivering a written request therefor to the Company (i) specifying the number of Registrable
Securities to be included in such registration and (ii) containing all information about such Demand Holder required to be included in such Registration Statement in accordance with applicable law. As soon as practicable after the receipt of
such demand, the Company shall use commercially reasonable efforts to effect such registration (including appropriate qualification under applicable blue sky or other state securities 

  
 6 

 
laws and appropriate compliance with applicable regulations issued under the Securities Act and any other governmental requirements or regulations) of the Registrable Securities that the Company
has been so requested to register. The Company shall not be obligated to effect more than one Additional Demand Registration pursuant to this Agreement. 
  

	3.	Piggyback Takedowns. 

 (a)    Right to
Piggyback. Whenever the Company proposes to register any of its securities, or proposes to offer any of its Common Stock pursuant to a registration statement in an underwritten offering under the Securities Act (a “Piggyback
Takedown”), the Company shall give prompt written notice to all Holders of Registrable Securities of its intention to effect such Piggyback Takedown; provided, that if a Holder notifies the Company in writing that it does not
wish to receive notices of Piggyback Takedowns, the Company will not send such Holder any such notices. In the case of a Piggyback Takedown that is an underwritten offering under a shelf registration statement, such notice shall be given not less
than five (5) Business Days prior to the expected date of commencement of marketing efforts for such Piggyback Takedown. In the case of a Piggyback Takedown that is an underwritten offering under a registration statement that is not a shelf
registration statement, such notice shall be given not less than five (5) Business Days prior to the expected date of filing of such registration statement. The Company shall, subject to the provisions of
Section 3(b) and Section 3(c) below, include in such Piggyback Takedown, as applicable, all Registrable Securities with respect to which the Company has received written
requests for inclusion therein within five (5) days after sending the Company’s notice. Notwithstanding anything to the contrary contained herein, the Company may determine not to proceed with any Piggyback Takedown upon written notice to
the Holders of Registrable Securities requesting to include their Registrable Securities in such Piggyback Takedown. 

(b)    Priority on Primary Piggyback Takedowns. If a Piggyback Takedown is an underwritten primary registration on
behalf of the Company, and the managing underwriters for a Piggyback Takedown advise the Company in writing that in their reasonable opinion the number of securities requested to be included in such Piggyback Takedown exceeds the number which can be
sold in an orderly manner in such offering within a price range acceptable to the Company, the Company shall include in such Piggyback Takedown the number which can be so sold in the following order of priority: (i) first, the securities the
Company proposes to sell, (ii) second, the Registrable Securities requested to be included in such Piggyback Takedown pursuant to this Registration Rights Agreement and securities requested to be included in such Piggyback Takedown pursuant to
the Existing Registration Rights Agreement (pro rata on the basis of the number of securities requested to be included therein by each holder), and (iii) third, other securities requested to be included in such Piggyback Takedown. 

(c)    Priority on Secondary Piggyback Takedowns. If a Piggyback Takedown is an underwritten secondary registration
on behalf of holders of the Company’s securities (“Other Holders”), and the managing underwriters advise the Company in writing that in their opinion the number of securities requested to be included in such Piggyback
Takedown exceeds the number which can be sold in an orderly manner in such offering within a price range acceptable to the Other Holders, the Company shall include in such registration the number which can be so sold in the following order of
priority: (i) first, the securities requested to be included therein by the Other Holders initiating such registration (which, in the case of a request by SCF pursuant to the Existing Registration Rights Agreement, shall include securities
requested to be included by SCF and Tinicum, pro rata on the basis of the number of securities requested to be included therein by each holder), (ii) second, the Registrable Securities requested to be included in such registration (pro rata among
the holders of any such Registrable Securities on the basis of the number of Registrable Securities so requested to be included therein by each Holder) and (iii) third, the securities the Company proposes to sell, and (iv) fourth, other
securities requested to be included in such registration. 
 (d)    Selection of Underwriters. If any Piggyback
Takedown is an underwritten offering for the account of the Company, the Company will have the sole right to select the investment banker(s) and manager(s) for the offering. 

(e)    Confidentiality. Each Holder of Registrable Securities agrees that the fact that a notice pursuant to this
Section 3 has been delivered shall constitute confidential information and such Holder agrees not to disclose that such notice has been delivered. 

  
 7 

	4.	Holdback Agreements. 

 (a)    Restrictions on Public
Sale by Holder of Registrable Securities. In connection with any underwritten public offering of equity securities by the Company or any Holder of Registrable Securities effected pursuant to this Registration Rights Agreement, each
Holder of Registrable Securities agrees not to effect any public sale or distribution of securities similar to those being registered or of any securities convertible into or exchangeable or exercisable for such securities or hedging transactions
relating to the Registrable Securities, including a sale pursuant to Rule 144 under the Securities Act, during the period beginning five (5) days prior to the expected date of “pricing” of such offering and continuing for a period not
to exceed 60 days from the date of such final prospectus (or prospectus supplement if the offering is made pursuant to a “shelf” registration statement) as shall be reasonably requested by the managing Underwriter(s) except as part of such
registration (the “Lock-Up Period”); provided, however, that only a Holder who sells Registrable Securities in an underwritten public offering effected pursuant to this Registration
Rights Agreement shall be subject to the foregoing restrictions; provided, further, that if (i) during the last 17 days of the initial Lock-Up Period, the Company releases earnings results or material
news or a material event relating to the Company occurs or (ii) prior to the expiration of the initial Lock-Up Period, the Company announces that it will release earnings results during the 16-day period beginning on the last day of the initial Lock-Up Period, then in each case the Lock-Up Period will be extended until the
expiration of the 18-day period beginning on the date of release of the earnings results or the occurrence of the material news or material event, as applicable, unless the managing Underwriter(s) of such
underwritten public offering waive, in writing, such extension. If and to the extent requested by the managing Underwriter(s), each Holder of Registrable Securities subject to the restrictions of this Section 4(a)
agrees to execute an agreement to the foregoing effect with the Underwriters for such offering on such terms as the managing Underwriter(s) shall reasonably request (with such modification as reasonably requested by such managing Underwriter(s) to
take into consideration then existing rules of an applicable securities exchange regarding research analyst publications). Notwithstanding the foregoing, in no event shall any Holder of Registrable Securities be restricted from effecting any public
sale or distribution of securities pursuant to this Section 4(a) for more than 120 days during any 12-month period. 

(b)    Restrictions on Public Sale by the Company. In connection with any underwritten public offering of equity
securities by any Holder of Registrable Securities effected pursuant to this Registration Rights Agreement, the Company agrees not to effect any public sale or distribution of any securities similar to those being registered, or any securities
convertible into or exchangeable or exercisable for such securities or hedging transactions relating to such securities, during the Lock-Up Period as shall be reasonably requested by the managing
Underwriter(s) except as part of such registration as permitted hereby; provided, however, that if (i) during the last 17 days of the initial Lock-Up Period, the Company releases earnings results
or material news or a material event relating to the Company occurs or (ii) prior to the expiration of the initial Lock-Up Period, the Company announces that it will release earnings results during the 16-day period beginning on the last day of the initial Lock-Up Period, then in each case the Lock-Up Period will be extended until the
expiration of the 18-day period beginning on the date of release of the earnings results or the occurrence of the material news or material event, as applicable, unless the managing Underwriter(s) of such
underwritten public offering waive, in writing, such extension. 
  

	 	(c)	Use, and Suspension of Use, of Shelf Registration Statement. 

i.    If the Company has filed a “shelf” registration statement and has included Registrable
Securities therein, the Company shall be entitled to suspend (but not more than an aggregate of 60 days in any 12 month period), for a reasonable period of time not in excess of 20 days, the offer or sale of Registrable Securities pursuant to such
registration statement by any Holder of Registrable Securities if (A) a “road show” is not then in progress with respect to a proposed offering of Registrable Securities by such Holder pursuant to such registration statement and such
Holder has not executed an underwriting agreement with respect to a pending sale of Registrable Securities pursuant to such registration statement and (B) (x) the Company or any of its subsidiaries are engaged in confidential negotiations or
other confidential business activities, disclosure of which would be required if such registration statement were used (but would not be required if such registration statement were not used) and the Board determines in good faith that such
disclosure would be materially detrimental to the Company or (y) the Company has experienced some other material non-public event or is in possession of material
non-public information concerning the Company, and the Board determines in good faith 

  
 8 

 
that such disclosure would be materially detrimental to the Company. In order to suspend the use of the registration statement pursuant to this Section 4(c), the Company
shall promptly, upon determining to seek such suspension, deliver to the holders of Registrable Securities included in such registration statement, a certificate signed by the Chief Executive Officer of the Company stating that the Company is
suspending use of such registration statement pursuant to this Section 4(c) (a “Suspension Notice”) and, only upon request by a Holder, the basis therefor in reasonable detail. Following the
conclusion of any circumstance resulting in the suspension of a registration statement hereunder, the Company shall promptly notify each Holder in writing that it may resume use of the registration statement (an “End of Suspension
Notice”). Each Holder of Registrable Securities agrees that the fact that a Suspension Notice pursuant to this Section 4(c) has been delivered shall constitute confidential information and such Holder agrees
not to disclose that such notice has been delivered. 
 ii.    Notwithstanding any other provision of
this Section 4, the Company will not send any Suspension Notices or End of Suspension Notices to any Holder following the six (6) month anniversary of the closing of the transaction contemplated by the Purchase and
Sale Agreement, except as provided in the next sentence. Following the six (6) month anniversary of the closing of the transaction contemplated by the Purchase and Sale Agreement, each time prior to a Holder’s intended use of an effective
Shelf Registration Statement, such Holder will notify the Company in writing at least two (2) Business Days in advance of such intended use, and if a Suspension Notice was previously delivered (or would have been delivered but for the
provisions of this Section 4(c)(ii)) and the related suspension period remains in effect, the Company will so notify such Holder, within one (1) Business Day of such Holder’s notification to the Company, by
delivering to such Holder a copy of such previous Suspension Notice, and thereafter will provide such Holder with the related End of Suspension Notice immediately upon its availability. 

5.    Registration Procedures. Whenever a Holder requests that any Registrable Securities not previously included in
an effective registration statement be registered pursuant to this Registration Rights Agreement, and when any Holder proposes to carry out the Underwritten Shelf Takedown pursuant to this Registration Rights Agreement, the Company will, at its
expense, use commercially reasonable efforts to effect the registration and the sale of such Registrable Securities under the Securities Act as soon as reasonably practicable in accordance with the intended method of disposition thereof, and in
connection therewith the Company will as expeditiously as practicable: 
 (a)    to the extent applicable, prepare and
file with the SEC a registration statement on any form for which the Company then qualifies or which counsel for the Company shall deem appropriate and which form shall be available for the sale of the Registrable Securities to be registered
thereunder in accordance with the intended method of distribution thereof, and use commercially reasonable efforts and proceed diligently and in good faith to cause such filed registration statement to become effective under the Securities Act;
provided that before filing a registration statement or prospectus or any amendments or supplements thereto, the Company will furnish to all Selling Holders and to one counsel reasonably acceptable to the Company selected by the Selling
Holders, copies of all such documents proposed to be filed, which documents will be subject to the review of such counsel; 

(b)    prepare and file with the SEC such amendments and supplements to such registration statement and the prospectus used
in connection therewith as may be necessary to keep such registration statement effective pursuant to Section 2 for a period (except as provided in the last paragraph of this Section 5) of not less
than 270 consecutive days (or three years, or such shorter period as the Holder who holds a majority of the Registrable Securities covered by such registration may elect, if a “shelf” registration) or, if shorter, the period terminating
when all Registrable Securities covered by such registration statement have been sold (but not before the expiration of the applicable period referred to in Section 4(3) of the Securities Act and Rule 174 thereunder, if applicable) and comply
with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement during such period in accordance with the intended method of disposition by the Selling Holders thereof set forth in
such registration statement; provided however that any Selling Holder that has been included on a “shelf” registration statement may request that such Seller Holder’s Registrable Securities be removed from such registration
statement, in which event the Company shall promptly either withdraw such registration statement or file a post-effective amendment to such registration statement removing such Registrable Securities; 

  
 9 

 (c)    furnish to each such Selling Holder such number of copies of such
registration statement, each amendment and supplement thereto (in each case including all exhibits thereto), the prospectus included in such registration statement (including each preliminary prospectus) and such other documents as such Selling
Holder may reasonably request in order to facilitate the disposition of the Registrable Securities owned by such Selling Holder; 

(d)    notify the Selling Holders promptly, and (if requested by any such Person) confirm such notice in writing,
(i) when a prospectus or any prospectus supplement or post-effective amendment has been filed, and, with respect to a registration statement or any post-effective amendment, when the same has become effective under the Securities Act and each
applicable state Law, (ii) of any request by the SEC or any other federal or state governmental authority for amendments or supplements to a registration statement or related prospectus or for additional information, (iii) of the issuance
by the SEC of any stop order suspending the effectiveness of a registration statement or the initiation of any proceedings for that purpose, (iv) if at any time the representations or warranties of the Company or any of its subsidiaries
contained in any agreement (including any underwriting agreement) contemplated by Section 5(i) below cease to be true and correct in any material respect, (v) of the receipt by the Company of any
notification with respect to the suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose, (vi) of the
happening of any event which makes any statement made in such registration statement or related prospectus or any document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires the making of
any changes in such registration statement, prospectus or documents so that, in the case of the registration statement, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or
necessary to make the statements therein not misleading, and that in the case of the prospectus, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the
statements therein, in light of the circumstances under which they were made, not misleading, and (vii) of the Company’s reasonable determination that a post-effective amendment to a registration statement would be appropriate; 

(e)    use commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of a
registration statement, or the lifting of any suspension of the qualification (or exemption from qualification) of any of the Registrable Securities for sale in any jurisdiction, at the earliest practicable moment; 

(f)    cooperate with the Selling Holders and the managing Underwriter(s) to facilitate the timely preparation and delivery
of certificates representing Registrable Securities to be sold, which certificates shall not bear any restrictive legends and shall be in a form eligible for deposit with The Depositary Trust Company; 

(g)    use commercially reasonable efforts to register or qualify such Registrable Securities as promptly as practicable
under such other securities or blue sky laws of such jurisdictions as any Selling Holder or managing Underwriter reasonably (in light of the intended plan of distribution) requests and do any and all other acts and things which may be reasonably
necessary or advisable to enable such Selling Holder or managing Underwriter to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder; provided that the Company will not be required to
(i) qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this paragraph (g), (ii) subject itself to taxation in any such jurisdiction or (iii) consent to general service of
process in any such jurisdiction; 
 (h)    use commercially reasonable efforts to cause such Registrable Securities to
be registered with or approved by such other governmental agencies or authorities, if any, as may be required of the Company to enable the Selling Holder or Selling Holders thereof to consummate the disposition of such Registrable Securities; 

(i)    enter into customary agreements (including an underwriting agreement in customary form with customary
indemnification provisions) and take such other actions as are reasonably required or advisable in order to expedite or facilitate the disposition of such Registrable Securities, including providing reasonable availability of appropriate members of
senior management of the Company to provide customary due diligence assistance in connection with any offering and to participate in customary “road show” presentations in connection with any underwritten offerings in substantially the
same manner as they would in an underwritten primary registered public offering by the Company of its Common Stock, after taking into account the reasonable business requirements of the Company in determining the scheduling and duration of any road
show; 

  
 10 

 (j)    make available for inspection by any Selling Holder of such
Registrable Securities, any Underwriter participating in any disposition pursuant to such registration statement and any attorney, accountant or other professional retained by any such Selling Holder or Underwriter (collectively, the
“Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”) as shall be reasonably necessary to enable them to exercise
their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information reasonably requested by any such Inspectors in connection with such registration statement. Each Selling Holder of such
Registrable Securities agrees that information obtained by it as a result of such inspections shall be deemed confidential and shall not be used by it as the basis for any market transactions in the securities of the Company or its Affiliates unless
and until such is made generally available to the public (other than by such Selling Holder). Each Selling Holder of such Registrable Securities further agrees that it will, as soon as practicable upon learning that disclosure of such Records is
sought in a court of competent jurisdiction, give notice to the Company and allow the Company at its expense to undertake appropriate action to prevent disclosure of the Records deemed confidential; 

(k)    use commercially reasonable efforts to obtain a comfort letter or comfort letters from the Company’s
independent public accountants in customary form and covering such matters of the type customarily covered by comfort letters as the managing Underwriter(s) reasonably request(s); 

(l)    otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the SEC, and
make available to its security holders, as soon as reasonably practicable, an earnings statement covering a period of twelve months, beginning within three months after the effective date of the registration statement, which earnings statement shall
satisfy the provisions of Section 11(a) of the Securities Act; 
 (m)    use commercially reasonable efforts to
cause all such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed or quoted on any inter-dealer quotation system on which similar securities issued by the Company are
then quoted; 
 (n)    if any event contemplated by Section 5(d)(vi) above shall occur,
as promptly as practicable prepare a supplement or amendment or post-effective amendment to such registration statement or the related prospectus or any document incorporated therein by reference or promptly file any other required document so that,
as thereafter delivered to the purchasers of the Registrable Securities, the prospectus will not contain an untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements
therein, in light of the circumstances under which they were made, not misleading; and 
 (o)    cooperate and assist in
any filing required to be made with FINRA and in the performance of any due diligence investigation by any underwriter, including any “qualified independent underwriter,” or any Selling Holder. 

Notwithstanding anything contained herein to the contrary, the Company hereby agrees that (i) any registration effected pursuant to this
Registration Rights Agreement that is a “shelf” registration pursuant to Rule 415 under the Securities Act shall contain all language (including on the prospectus cover page, the principal stockholders’ chart and the plan of
distribution) as may be reasonably requested by a holder of Registrable Securities. The Company may require each Selling Holder to promptly furnish in writing to the Company such information regarding the distribution of the Registrable Securities
as it may from time to time reasonably request and such other information as may be legally required in connection with such registration. Notwithstanding anything herein to the contrary, the Company shall have the right to exclude from any offering
the Registrable Securities of any Selling Holder who does not comply with the provisions of the immediately preceding sentence. 
 Each
Selling Holder agrees that, upon receipt of any notice from the Company of the happening of any event of the kind described in Section 5(d)(vi) hereof, such Selling Holder will forthwith discontinue disposition of
Registrable Securities pursuant to the registration statement covering such Registrable Securities until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by
Section 5(n) hereof, and, if so directed by the Company, such Selling Holder will deliver to the Company all copies, other than permanent file copies, then in such Selling Holder’s possession, of the most recent
prospectus covering such Registrable Securities at the time of receipt of such notice. In the event the Company shall give such notice, the Company shall extend the 

  
 11 

 
period during which such registration statement shall be maintained effective (including the period referred to in Section 5(b) hereof) by the number of days during the
period from and including the date of the giving of notice pursuant to Section 5(d)(vi) hereof to the date when the Company shall make available to the Selling Holders of Registrable Securities covered by such registration
statement a prospectus supplemented or amended to conform with the requirements of Section 5(n) hereof. 

6.    Registration Expenses. In connection with any registration statement required to be filed hereunder, the
Company shall pay the following registration expenses (the “Registration Expenses”): 

(a)    all registration and filing fees (including with respect to filings to be made with FINRA); 

(b)    fees and expenses of compliance with securities or blue sky laws (including reasonable fees and disbursements of
counsel in connection with blue sky qualifications of the Registrable Securities); 
 (c)    printing expenses; 

(d)    internal expenses (including all salaries and expenses of its officers and employees performing legal or accounting
duties); 
 (e)    the fees and expenses incurred in connection with the listing on an exchange of the Registrable
Securities if the Company shall choose, or be required pursuant to Section 5(m), to list such Registrable Securities; 

(f)    reasonable fees and disbursements of counsel for the Company and customary fees and expenses for independent
certified public accountants retained by the Company (including the expenses of any comfort letters requested pursuant to Section 5(k) hereof); 

(g)    the reasonable fees and expenses of any special experts retained by the Company in connection with such
registration; 
 (h)    reasonable fees and expenses of one counsel reasonably acceptable to the Company selected by the
Selling Holders incurred in connection with the registration of such Registrable Securities hereunder; and 
 (i)    fees
and expenses of any “qualified independent underwriter” or other independent appraiser participating in any offering pursuant to Rule 2720 of the FINRA Manual. 

The Company shall not have any obligation to pay any underwriting fees, discounts, or commissions attributable to the sale of Registrable
Securities or, except as provided by clause (b), (h) or (i) above, any out-of-pocket expenses of the Holders (or the agents who manage their
accounts) or the fees and disbursements of any Underwriter. 
  

	7.	Indemnification; Contribution. 

(a)    Indemnification by the Company. The Company agrees to indemnify and hold harmless each Selling Holder, each
Person, if any, who controls such Selling Holder within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, and the officers, directors, agents, general and limited partners, and employees of each Selling
Holder and each such controlling Person from and against any and all losses, claims, damages, liabilities (joint or several), and expenses (including reasonable costs of investigation and attorneys’ fees) arising out of or based upon any untrue
statement or alleged untrue statement of a material fact contained in any registration statement or prospectus relating to the Registrable Securities or in any amendment or supplement thereto or in any preliminary prospectus, or arising out of or
based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as such losses, claims, damages, liabilities or expenses arise out
of, or are based upon and in conformity with, any such untrue statement or omission or allegation thereof based upon information furnished in writing to the Company by such Selling Holder or on such Selling Holder’s behalf expressly for use
therein. The Company also agrees to indemnify any Underwriters of the Registrable Securities, their officers and directors and each Person who controls such Underwriters on substantially the same basis as that of the indemnification of the Selling
Holders provided in this Section 7(a). 

  
 12 

 (b)    Indemnification by Holder of Registrable
Securities. Each Selling Holder agrees to indemnify and hold harmless each other Selling Holder, the Company, and each Person, if any, who controls the Company within the meaning of either Section 15 of the Securities Act or Section 20
of the Exchange Act and the officers, directors, agents and employees of each other Selling Holder, the Company and each such controlling Person to the same extent as the foregoing indemnity from the Company to such Selling Holder, but only with
respect to information furnished in writing by such Selling Holder or on such Selling Holder’s behalf expressly for use in any registration statement or prospectus relating to the Registrable Securities. The liability of any Selling Holder
under this Section 7(b) shall be limited to the aggregate cash and property received by such Selling Holder pursuant to the sale of Registrable Securities covered by such registration statement or prospectus.

 (c)    Conduct of Indemnification Proceedings. If any action or proceeding (including any governmental
investigation) shall be brought or asserted against any Person entitled to indemnification under Section 7(a) or 7(b) above (an “Indemnified Party”) in respect of which indemnity
may be sought from any Person who has agreed to provide such indemnification under Section 7(a) or 7(b) above (an “Indemnifying Party”), the Indemnified Party shall give prompt
written notice to the Indemnifying Party and the Indemnifying Party shall assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party, and shall assume the payment of all reasonable expenses of
such defense. Such Indemnified Party shall have the right to employ separate counsel in any such action or proceeding and to participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified
Party unless (i) the Indemnifying Party has agreed to pay such fees and expenses or (ii) the Indemnifying Party fails promptly to assume the defense of such action or proceeding or fails to employ counsel reasonably satisfactory to such
Indemnified Party or (iii) the named parties to any such action or proceeding (including any impleaded parties) include both such Indemnified Party and Indemnifying Party (or an Affiliate of the Indemnifying Party), and such Indemnified Party
shall have been advised by counsel that there may be one or more legal defenses available to the Indemnified Party that are different from or additional to those available to the Indemnifying Party, or there is a conflict of interest on the part of
counsel employed by the Indemnifying Party to represent such Indemnified Party (in which case, if such Indemnified Party notifies the Indemnifying Party in writing that it elects to employ separate counsel at the expense of the Indemnifying Party,
the Indemnifying Party shall not have the right to assume the defense of such action or proceeding on behalf of such Indemnified Party). Notwithstanding the foregoing, the Indemnifying Party shall not, in connection with any such action or
proceeding or separate but substantially similar related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be liable at any time for the fees and expenses of more than one separate firm of
attorneys (together in each case with appropriate local counsel). The Indemnifying Party shall not be liable for any settlement of any such action or proceeding effected without its written consent (which consent will not be unreasonably withheld),
but if settled with its written consent, or if there be a final judgment for the plaintiff in any such action or proceeding, the Indemnifying Party shall indemnify and hold harmless such Indemnified Party from and against any loss or liability (to
the extent stated above) by reason of such settlement or judgment. The Indemnifying Party shall not consent to entry of any judgment or enter into any settlement that does not include as an unconditional term thereof the giving by the claimant or
plaintiff to such Indemnified Party of a release, in form and substance reasonably satisfactory to the Indemnified Party, from all liability in respect of such action or proceeding for which such Indemnified Party would be entitled to
indemnification hereunder. 
 (d)    Contribution. If the indemnification provided for in this
Section 7 is unavailable to the Indemnified Parties in respect of any losses, claims, damages, liabilities or judgments referred to herein, then each such Indemnifying Party, in lieu of indemnifying such Indemnified
Parties, shall contribute to the amount paid or payable by such Indemnified Parties as a result of such losses, claims, damages, liabilities and judgments as between the Company on the one hand and each Selling Holder on the other, in such
proportion as is appropriate to reflect the relative fault of the Company and of each Selling Holder in connection with the statements or omissions which resulted in such losses, claims, damages, liabilities or judgments, as well as any other
relevant equitable considerations. The relative fault of the Company on the one hand and of each Selling Holder on the other shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact
or the omission or alleged omission to state a material fact relates to information supplied by such Person, and such Persons’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission.

  
 13 

 The Company and the Selling Holders agree that it would not be just and equitable if contribution
pursuant to this Section 7(d) were determined by any method of allocation which does not take into account the equitable considerations referred to in the immediately preceding paragraph. The amount paid or payable by an
Indemnified Party as a result of the losses, claims, damages, liabilities or judgments referred to in the immediately preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably
incurred by such Indemnified Party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 7(d), no Selling Holder shall be required to contribute any amount in
excess of the amount by which the total price at which the Registrable Securities of such Selling Holder were offered to the public (less any underwriting discounts or commissions) exceeds the amount of any damages which such Selling Holder has
otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled
to contribution from any Person who was not guilty of such fraudulent misrepresentation. 
 8.    Participation in Underwritten
Offering. No Holder may participate in any underwritten offering hereunder unless such Holder (a) agrees to sell such Holder’s Registrable Securities on the basis provided in any underwriting arrangements approved by the
Person entitled hereunder to approve such arrangements and (b) completes and executes all questionnaires, powers of attorney, custody agreements, indemnities, underwriting agreements and other documents reasonably required under the terms of
such underwriting arrangements and this Registration Rights Agreement. 
 9.    Transfers of Registration Rights.
The provisions hereof will inure to the benefit of and be binding upon the successors and assigns of each of the Parties, except as otherwise provided herein; provided, however, that the registration rights granted hereby may be
transferred only (i) by operation of Law or (ii) to any Person to whom a Holder transfers Registrable Securities, provided that any such transferee shall not be entitled to rights pursuant to Section 2,
3 or 4 hereof unless such transferee of registration rights hereunder agrees to be bound by the terms and conditions hereof and executes and delivers to the Company an acknowledgment and agreement to such effect. 

10.    Information Rights in Private Sale. If any Demand Holders who then hold in the aggregate a minimum of 5% of
the Company’s Common Stock (such Demand Holders, for purposes of this Section 10, being herein called the “Disposing Holders”) propose to Transfer in a private transaction Registrable Securities
having a fair market value in excess of $20,000,000, as determined in good faith by such Disposing Holders, then held by such Disposing Holders, then, the Company shall afford to such Disposing Holders, such prospective transferees and their
respective counsel, accountants, lenders and other representatives, full access during normal business hours to the properties, books, contracts, records and management of the Company in order that such parties may have full opportunity to make such
investigations as they shall desire to make of the Company and shall, upon request, promptly furnish to such parties all other information concerning the Company as such parties may reasonably request in connection with such prospective transfer, in
each case subject to such confidentiality restrictions or obligations as the Company may reasonably require; provided, however, that any such investigation shall be conducted in such a manner as not to interfere unreasonably with the
Company’s business and operations. 
 11.    Rule 144 and Rule 144A; Other Exemptions. With a view to making
available to the Holders of Registrable Securities the benefits of Rule 144 and Rule 144A promulgated under the Securities Act and other rules and regulations of the SEC that may at any time permit a Holder of Registrable Securities to sell
securities of the Company to the public without registration, the Company agrees that it will use commercially reasonable efforts to (i) file in a timely manner all reports and other documents required, if any, to be filed by it under the
Securities Act and the Exchange Act and the rules and regulations adopted thereunder and (ii) make available information necessary to comply with Rule 144 and Rule 144A, if available with respect to resales of the Registrable Securities under
the Securities Act, at all times, all to the extent required from time to time to enable such Holder to sell Registrable Securities without registration under the Securities Act within the limitation of the exemptions provided by (x) Rule 144
and Rule 144A promulgated under the Securities Act (if available with respect to resales of the Registrable Securities), as such rules may be amended from time to time or (y) any other rules or regulations now existing or hereafter adopted by
the SEC. Upon the reasonable request of any Holder of Registrable Securities, the Company will deliver to such Holder a written statement as to whether it has complied with such information requirements, and, if not, the specific reasons for non-compliance. 

  
 14 

 12.    Entire Agreement. The foregoing provisions of this Registration
Rights Agreement contain the entire understanding of the Parties respecting the subject matter hereof and supersede all prior agreements, discussions and understandings with respect thereto. 

 

	13.    Miscellaneous.	

 (a)    Construction. All references in this Registration Rights
Agreement to Sections, subsections and other subdivisions refer to the corresponding Sections, subsections and other subdivisions of or to this Registration Rights Agreement unless expressly provided otherwise. Titles appearing at the beginning of
any Sections, subsections or other subdivisions of this Registration Rights Agreement are for convenience only, do not constitute any part of this Registration Rights Agreement, and shall be disregarded in construing the language hereof. The words
“this Registration Rights Agreement,” “herein,” “hereby,” “hereunder” and “hereof” and words of similar import refer to this Registration Rights Agreement as a whole and not to any particular
subdivision unless expressly so limited. The words “this Section” and “this subsection” and words of similar import refer only to the Section or subsection hereof in which such words occur. The word “or” is not
exclusive, and the word “including” (in its various forms) means including without limitation. Pronouns in masculine, feminine or neuter genders shall be construed to state and include any other gender, and words, terms and titles
(including terms defined herein) in the singular form shall be construed to include the plural and vice versa, unless the context otherwise requires. 

(b)    Notice. All notices, requests, claims, demands and other communications hereunder shall be in writing and
shall be deemed to have been duly given or made (i) when delivered if delivered in person or sent by nationally recognized overnight or second day courier service, (ii) upon transmission by fax if transmission is confirmed, or
(iii) three (3) Business Days after deposit with a United States post office if delivered by registered or certified mail (postage prepaid, return receipt requested) to the respective parties as follows: 

if to the Company, addressed to: 

Forum Energy Technologies, Inc. 

920 Memorial City Way, Suite 1000 

Houston, Texas 77024 
 Attention:
Jim McCulloch 
 John Ivascu 

Facsimile: (713) 583-9346 

with a copy to: 
 Baker Botts
L.L.P. 
 910 Louisiana Street 

Houston, Texas 77002 
 Attention:
J. David Kirkland 
 James Marshall 

Facsimile: (713) 229-1522 

if to Quantum, addressed to: 
 Q-GT (V) Investment Partners, LLC 
 1401 McKinney Street, Suite 2700 

Houston, TX 77010 
 Attention:
General Counsel 
 Email: JBaird@quantumep.com 

with a copy to: 

Vinson & Elkins L.L.P. 

1001 Fannin Street, Suite 2500 

Houston, Texas 77002-6760 

  
 15 

 Attention: Keith Fullenweider 

Facsimile: (713) 615-5085 

or to such other place and with such other copies as any party hereto may designate as to itself by written notice to the others in accordance
with this Section 13(b). 
 (c)    No Lock-Up.
For the avoidance of doubt and notwithstanding anything contained in this Registration Rights Agreement, in no event will any officer or director of the Company be obligated to enter into any lock-up or
similar agreement in connection with any offer or sale effected pursuant to this Registration Rights Agreement unless (i) such individual owns securities that are included in such offer and sale or (ii) the managing underwriters advise the
Company that, in their opinion, the failure to do so would preclude the Holders from effecting a Shelf Takedown or a Block Trade, in which case the Company shall use commercially reasonable efforts to cause each of its officers and directors as may
be reasonably requested by the managing underwriters to enter into a lock-up or similar agreement in a form consistent with that used in connection with prior offerings by the Company (including with respect
to permitted exceptions as to stock options and 10b5-1 trading plans). 

(d)    Binding Effect. This Registration Rights Agreement is binding on and inures to the benefit of the Parties and
their respective heirs, legal representatives, successors, and assigns. 
 (e)    Governing Law. This agreement is
governed by and shall be construed in accordance with the law of the state of Delaware without regard to the principles of conflicts of law thereof. 

(f)    Severability. If any provision of this Registration Rights Agreement or the application thereof to any Person
or circumstance is held invalid or unenforceable to any extent, the remainder of this Registration Rights Agreement and the application of that provision to other Persons or circumstances shall not be affected thereby and that provision shall be
enforced to the greatest extent permitted by Law. Furthermore, in lieu of each such invalid or unenforceable provision, there shall be added automatically as a part of this Registration Rights Agreement a provision as similar in terms to such
invalid or unenforceable provision as may be possible and be legal, valid and enforceable. 
 (g)    Counterparts.
This Registration Rights Agreement may be executed in any number of counterparts, including facsimile counterparts, with the same effect as if all signing parties had signed the same document. All counterparts shall be construed together and
constitute the same instrument. 
 (h)    Section Headings. Headings contained in this Registration Rights
Agreement are inserted only as a matter of convenience and in no way define, limit, or extend the scope or intent of this Registration Rights Agreement or any provisions hereof. 

(i)    Cumulative Rights. The rights of the Parties under this Registration Rights Agreement are cumulative and in
addition to all similar and other rights of such parties under other agreements. 
 (j)    Further Assurances. In
connection with this Registration Rights Agreement and the transactions contemplated hereby, each Party shall execute and deliver any additional documents and instruments and perform any additional acts that may be necessary or appropriate to
effectuate and perform the provisions of this Registration Rights Agreement and those transactions. 

(k)    Amendment. The provisions of this Registration Rights Agreement may only be amended by the written consent of
the Company and the Demand Holders (if the Demand Holders then own Registrable Securities); provided, however, that any amendment that has an adverse effect on the rights of, or imposes additional obligations on, the Holders other than the
Demand Holders shall require the consent of such Holders other than the Demand Holders that hold in the aggregate at least 50% of the Registrable Securities then held by such Holders (if such Holders then own Registrable Securities). The Holders
acknowledge and agree that any Person that becomes a Stockholder shall have the rights and obligations set forth in this Registration Rights Agreement and that such Person becoming a Stockholder shall be deemed not to be an amendment to this
Registration Rights Agreement. 

  
 16 

 (l)    Termination. The provisions of this Registration Rights
Agreement shall terminate with respect to any Holder and be of no further force or effect when all Registrable Securities held by such Holder no longer constitute Registrable Securities; provided that the provisions of
Section 7 of this Registration Rights Agreement shall survive for any sales of Registrable Securities prior to such date. 

(m)    Removal of Legend. The Company, at its sole cost, shall remove any legend ordinarily included on restricted
securities of the Company (or instruct its transfer agent to so remove such legend) from the certificates or book-entries evidencing Registrable Securities if such Common Stock (i) is sold pursuant to an effective registration statement under
the Securities Act, (ii) is sold or transferred pursuant to Rule 144 (if the transferor is not an Affiliate of the Company) or (iii) is eligible for sale under Rule 144. Each Holder agrees to provide the Company, its counsel and/or the
transfer agent with evidence reasonably requested by it in order to cause the removal of such legend, including, as may be appropriate, any information the Company deems necessary to determine that the legend is no longer required under the
Securities Act or applicable state laws, including a certification that the holder is not an Affiliate of the Company (and a covenant to inform the Company if it should thereafter become an Affiliate and to consent to exchange any certificates or
instruments representing the Common Stock for ones bearing an appropriate restrictive legend) and regarding the length of time the Common Stock has been held. Any fees (with respect to the transfer agent, Company counsel or otherwise) associated
with the issuance of any legal opinion required by the Company’s transfer agent or the removal of such legend shall be borne by the Company. If a legend is no longer required pursuant to the foregoing, the Company will use commercially
reasonable efforts to, no later than three (3) Business Days following the delivery by a Holder to the Company or the transfer agent (with notice to the Company) of a legended certificate or instrument representing the Common Stock (endorsed or
with stock powers attached, signatures guaranteed, and otherwise in form necessary to affect the reissuance and/or transfer) and any representation letter or certification as may be requested by the Company, deliver or cause to be delivered to such
Company a certificate or instrument (as the case may be) representing such Common Stock that is free from all restrictive legends. 

(n)    Remedies; Specific Performance. Any Person having rights under any provision of this Registration Rights
Agreement shall be entitled to enforce such rights specifically, to recover damages caused by reason of any breach of any provision of this Registration Rights Agreement and to exercise all other rights existing in their favor. The Parties agree and
acknowledge that money damages would not be an adequate remedy for any breach of the provisions of this Registration Rights Agreement and that any party may in its sole discretion apply to any court of law or equity of competent jurisdiction for
specific performance and/or injunctive relief (without posting any bond or other security) in order to enforce or prevent violation of the provisions of this Registration Rights Agreement and shall not be required to prove irreparable injury to such
party or that such party does not have an adequate remedy at law with respect to any breach of this Registration Rights Agreement (each of which elements the Parties admit). The Parties further agree and acknowledge that each and every obligation
applicable to it contained in this Registration Rights Agreement shall be specifically enforceable against it and hereby waives and agrees not to assert any defenses against an action for specific performance of their respective obligations
hereunder. All rights and remedies existing under this Agreement are cumulative to, and not exclusive of, any rights or remedies available under this Agreement or otherwise. 

(Signature Page Follows) 

  
 17 

 IN WITNESS WHEREOF, the Parties have executed this Registration Rights Agreement as of the date
first written above. 
  

			
	FORUM ENERGY TECHNOLOGIES, INC.
		
	 By:
	 	 /s/ Prady Iyyanki

	Name:	 	Prady Iyyanki
	Title:	 	President and Chief Executive Officer
	
	Q-GT (V) INVESTMENT PARTNERS, LLC
		
	By:	 	 /s/ Dheeraj Verma

	Name:	 	Dheeraj Verma
	Title:	 	Authorized Person

 Signature Page to Registration Rights Agreement

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