Document:

Form of Restricted Stock Agreement

 Exhibit 10.14 
 PLATINUM ENERGY SOLUTIONS, INC. 
 2010 OMNIBUS EQUITY INCENTIVE PLAN

 FORM OF RESTRICTED STOCK AGREEMENT 
 THIS RESTRICTED STOCK AGREEMENT (this “Agreement”) is effective
                                    , (the “Grant
Date”), by and between Platinum Energy Solutions, Inc., a Nevada corporation (the “Corporation”), and
                                    . (the
“Participant”). 
 R E C I T A L S: 

A. The Participant is an employee of the Corporation or one of its Subsidiaries and a member of the Board. 

B. The Board has determined that it is in the best interests of the Corporation that the Restricted Shares (defined below) be granted to
the Participant, subject to certain restrictions set forth herein to incentivize the Participant to continue to work toward the future prosperity and increased value of the Corporation for the benefit of all of its stockholders, pursuant to the
terms of the Platinum Energy Solutions, Inc. 2010 Omnibus Equity Incentive Plan (the “Plan”). 
 A
G R E E M E N T: 
 In consideration of the mutual covenants contained
herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement, intending to be legally bound, hereby agree as follows: 

ARTICLE I 

GRANT OF RESTRICTED SHARES 
 1.1 Award of Restricted Shares. The Participant is hereby granted _________ shares of Common Stock (“Shares”) subject to the restrictions and conditions set forth in this
Agreement. References in this Agreement to “Restricted Shares” mean the shares of Common Stock granted hereby, represented by Certificate No. ___ (and any successor certificates) and any cash, securities, rights or property
distributed in respect thereof or issued in exchange therefor (which shall be subject to the same restrictions and provisions as such Shares). The Restricted Shares are being granted under the Plan. The terms and conditions of the Participant’s
Restricted Shares are set forth in this Agreement and in the Plan. The Board authorized the grant of the Restricted Shares on the Grant Date. The Restricted Shares granted hereunder to the Participant are for no consideration. Whenever capitalized
terms are used in this Agreement, they shall have the meanings set forth in this Agreement or, if not defined in this Agreement, as set forth in the Plan. 
 1.2 Conditions to Issue. As conditions precedent to the issuance by the Corporation to the Participant of the Restricted Shares, the Participant shall deliver to the Corporation, at the same time
and in no event later than seven days following the Grant Date: (a) this Agreement, 

 
duly executed by the Participant; (b) if the Participant has a spouse as of the Grant Date, the Consent of Spouse (as defined below), duly executed by the Participant’s spouse,
substantially in the form attached hereto as Exhibit A; (c) if the Participant is not then a party to the Stockholders Agreement, the Joinder to Stockholders Agreement, duly executed, substantially in the form attached hereto as
Exhibit B, as such form may be amended from time to time by the Corporation; and (d) if the Participant has made an election under Section 83(b) of the Internal Revenue Code of 1986, as amended (the “Code”) (such
election, a “Section 83(b) Election”) with respect to the Restricted Shares, the cash payment specified in Section 4.2, a properly completed and executed a Section 83(b) Election Statement, in the form attached hereto as
Exhibit C (the “83(b) Election Statement”) and evidence reasonably acceptable to the Corporation that the Participant has filed such 83(b) Election Statement with the Internal Revenue Service and either the Corporation or a
Subsidiary, as applicable, as the Participant’s employer. 
 ARTICLE II 

VESTING OF RESTRICTED SHARES; REPURCHASE RIGHT 
 2.1 Vesting Generally. Restricted Shares shall vest and no longer be subject to a repurchase right of he Corporation upon, but only upon, the earliest to occur of the events described in this
Article II and subject to the limitations set forth in this Article II. All vested Restricted Shares shall become non-forfeitable and transferable at the time they first vest, although: 

(a) transferability may be restricted under the Plan and the Stockholders Agreement; 

(b) transferability may be restricted under Section 3.5 by the application of securities laws; 

(c) transferability may be subject to pre-clearance, blackout, registration and other requirements and restrictions under
the Corporation’s insider trading and other compliance policies and procedures; 
 (d) transferability may
be restricted under Article IV until the Tax Withholding Amount is satisfied; and 
 (e) transfers by executive
officers should be reviewed in advance to determine if there would be any potential liability for short-swing profits under Section 16(b) of the Exchange Act. 
 2.2 Vesting. The Restricted Shares shall vest as of the Grant Date, but shall be subject to repurchase by the Corporation as set forth in Sections 2.3 and 2.4. 

2.3 Repurchase Right. 
 (a) The Corporation shall (absent the waiver of this provision by at least four-fifths of the members of the Board) repurchase up to one hundred percent (100%)

  
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of the Restricted Shares subject to repurchase as set forth in Section 2.3(b) (the “Repurchase Right”) upon the Participant’s termination of employment with the
Corporation without Good Reason or the Corporation’s termination of the Participant’s employment with the Corporation for Cause. 
 (b) The number of Restricted Shares subject to the Repurchase Right (the is determined as follows: 
  

	 	(i)	From the Grant Date through December 31, 2011, 100% of the Restricted Shares. 

 

	 	(ii)	From January 1, 2012 through December 31, 2012, 66.7% of the Restricted Shares. 

 

	 	(iii)	From January 1, 2013 through December 31, 2013, 33.3% of the Restricted Shares. 

 

	 	(iv)	From January 1, 2014 through December 31, 2014, 13.3% of the Restricted Shares. 

(c) The Repurchase Right shall (absent the waiver of this provision by at least four-fifths of the members of the Board)
be deemed exercised by the Corporation upon the Participant’s termination of employment with the Corporation without Good Reason or the Corporation’s termination of the Participant’s employment with the Corporation for Cause.

 (d) The repurchase price of Restricted Shares subject to the Repurchase Right is $0.01 per share. 

(e) In the event of the declaration of a stock dividend, the declaration of an extraordinary dividend payable in a form
other than stock, a spin-off, a stock split, an adjustment in conversion ratio, a recapitalization or a similar transaction affecting the Corporation’s outstanding securities without receipt of consideration, any new, substituted or additional
securities or other property (including money paid other than as an ordinary cash dividend) which are by reason of such transaction distributed with respect to any Restricted Shares, or into which such Restricted Shares thereby become convertible,
shall immediately be subject to the Repurchase Right hereunder. Appropriate adjustments to reflect the distribution of such securities or property shall be made to the number and/or class of the Restricted Shares. Appropriate adjustments shall also,
after each such transaction, be made to the price per share to be paid upon the exercise of the Repurchase Right in order to reflect any change in the Corporation’s outstanding securities effected without receipt of consideration therefor;
provided, however, that the aggregate purchase price payable for the Restricted Shares shall remain the same. 

(f) Notwithstanding anything to the contrary herein, the parties agree that if the Corporation makes available the
consideration for the Restricted Shares to be repurchased, then after such time the person from whom such shares are repurchased 

  
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shall no longer have any rights as a holder of such shares (other than the right to receive payment of such consideration in accordance with such notice). Such Restricted Shares shall be deemed
to have been repurchased in accordance with the applicable provisions hereof, whether or not the certificate(s) therefor have been delivered. 
 2.4 Change in Control; Discretionary Vesting. 
 (a) The
Repurchase Right shall lapse with respect to all Restricted Shares upon the earliest of (i) December 31, 2014, (ii) the occurrence of a Liquidity Event or a Sale of the Company; and (iii) a termination of the Participant’s
employment by the Corporation for Cause, by the Participant for Good Reason, or due to the Participant’s death or Disability. 
 (b) The Board may accelerate the time at which the Repurchase Right shall lapse with respect to any Restricted Shares at any time and for any reason. 

2.5 Defined Terms. For purposes of this Agreement, the following terms shall have the following meanings: 

(a) “Cause” means any of the following: 

 

	 	(i)	the Participant’s failure or refusal, after written notice thereof and failure to cure within five (5) days thereafter, to perform specific written directives
from the Board which are consistent with the scope and nature of the Participant’s duties and responsibilities under the Participant’s Employment Agreement dated March 3, 2011 (the “Employment Agreement”);

  

	 	(ii)	dishonesty or disloyalty of the Participant which directly or indirectly has a material adverse affect on the Corporation; 

 

	 	(iii)	habitual drunkenness or use of drugs which interferes with the performance of the Participant’s duties and obligations under the Employment Agreement;

  

	 	(iv)	the Participant’s commission of any crime involving moral turpitude, fraud, defalcation or misrepresentation; 

 

	 	(v)	any gross or willful misconduct of the Participant resulting in substantial loss to the Corporation or substantial damages to the reputation of the Corporation;

  

	 	(vi)	any breach of the Participant’s covenants contained in Article VI of the Employment Agreement; or 

 

	 	(vii)	any other material breach of the Employment Agreement by the Participant, which material breach is not cured (to the extent curable) within five (5) days following
notice thereof. 

  
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 (b) “Good Reason” means any of the following: 

 

	 	(i)	the Corporation’s material breach of the Employment Agreement (which is not cured within five (5) days after receipt of written notice of such breach); or

  

	 	(ii)	the assignment of the Participant without his consent to a position, responsibilities, or duties of a materially lesser status or degree of responsibility than his
position, responsibilities, or duties as of the date hereof. 

 (c) “Liquidity
Event” means the Corporation’s initial public offering of its equity securities in a nationally recognized exchange with total proceeds available to the public of $50 million or more and an implied pre-money equity market
capitalization of at least $125 million. 
 (d) “Sale of the Company” means a single transaction
or a series of transactions pursuant to which an unaffiliated Person or Persons acquire (i) capital stock of the Corporation possessing the voting power to elect a majority of the Board or more than fifty percent (50%) of the voting power
of the Corporation (whether by merger, consolidation or sale or transfer of the Corporation’s capital stock), provided, however, (a) that an initial public offering that results in an acquisition of voting power shall not be a Sale of the
Corporation and (b) a merger shall not be a Sale of the Corporation as long as the stockholders of the Corporation own a majority of the common stock of the surviving entity immediately following the merger); or (ii) all or a substantial
portion of the Corporation’s assets determined on a consolidated basis. 
 ARTICLE III 

PROCEDURES AFFECTING RESTRICTED SHARES 
 3.1 Reversion to the Corporation. All Restricted Shares that are repurchased pursuant to Article II shall revert to the Corporation and once again be available for issuance under the Plan.

 3.2 Plan and Stockholders Agreement Provisions. The Participant acknowledges receipt of the Plan and agrees to be
bound by the terms of the Plan. The Participant acknowledges receipt of the Stockholders Agreement and agrees to be bound by the Stockholders Agreement. The Participant acknowledges and agrees that the Restricted Shares are subject to the terms of
the Plan and the Stockholders Agreement. 
 3.3 Delivery and Legending of Restricted Shares. 

(a) Unless otherwise determined by the Corporation, the Restricted Shares will be evidenced by a physical certificate,
which certificate is available to the Participant at any time following the Grant Date; 

  
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 (b) Unless otherwise determined by the Corporation, each physical
certificate relating to Restricted Shares may include such restrictive legends in such forms as the Corporation may deem convenient, expedient, necessary or appropriate relating to the restrictions under the Plan, this Agreement or the Stockholders
Agreement, as applicable, applicable securities, tax or other laws or applicable rules of any securities exchange or market. Any such legends may be in substantially the following terms: 

“THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR THE SECURITIES LAW OF ANY STATE IN
RELIANCE UPON EXEMPTIONS FROM REGISTRATION THEREUNDER. THE SALE OR OTHER DISPOSITION OF THE SECURITIES REPRESENTED HEREBY IS RESTRICTED THEREUNDER AND, IN ANY EVENT, IS PROHIBITED UNLESS THE CORPORATION RECEIVES AN OPINION OF COUNSEL SATISFACTORY TO
IT THAT SUCH SALE OR OTHER DISPOSITION CAN BE MADE WITHOUT REGISTRATION THEREUNDER. BY ACQUIRING THE SECURITIES REPRESENTED HEREBY, THE STOCKHOLDER REPRESENTED THAT HE HAS ACQUIRED SUCH SECURITIES FOR INVESTMENT PURPOSES ONLY, AND THE STOCKHOLDER
AGREED THAT HE WOULD NOT SELL OR OTHERWISE DISPOSE OF SUCH SECURITIES WITHOUT REGISTRATION OR OTHER COMPLIANCE THEREWITH.” 

AND/OR 

“THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A RESTRICTED STOCK AGREEMENT DATED AS OF MARCH 3, 2011 IN FAVOR
OF THE ISSUER OF SUCH SECURITIES. A COPY OF SUCH AGREEMENT SHALL BE FURNISHED WITHOUT CHARGE BY THE ISSUER TO THE HOLDER HEREOF UPON WRITTEN REQUEST.” 
 3.4 Transfer of Restricted Shares. Restricted Shares subject to the Repurchase Right cannot be transferred or pledged to any individual or entity or for any purpose without the prior written
consent of the Corporation. Any attempt to effect a transfer or pledge of such Restricted Shares without such consent shall be null and void. 
 3.5 Representation Regarding Acquisition of Restricted Shares. Unless and until a Form S-8 or Form S-3 has been filed with respect to the Shares, the Participant hereby represents and warrants to
the Corporation: 
 (a) the Participant understands and agrees that the acquisition of the Restricted Shares has
not been approved or disapproved by the Securities and Exchange Commission or any administrative agency charged with the administration of the securities laws of any state; that he or she is a senior executive officer of the Corporation

  
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who has access to and is knowledgeable about the Corporation, its business, opportunities, risks and uncertainties, and the material facts and circumstances relating to any investment therein;
and that all documents, records and books pertaining to this investment have been made available upon reasonable notice for inspection by his or her purchaser representative, counsel, accountant or business advisor; 

(b) he or she (i) is able to bear the economic risks of this investment, (ii) is able to hold this investment
for an indefinite period of time, (iii) is presently able to afford a complete loss of this investment and (iv) has no need for liquidity in this investment; 

(c) the Restricted Shares were and/or will be acquired by him or her in good faith solely for his or her own account for
investment purposes only and are not being acquired with a view to or for the resale, distribution, subdivision or fractionalization thereof; 
 (d) he or she has no contract, undertaking, understanding, agreement or arrangement, formal or informal, with any person to sell, transfer or pledge to any person any of the Restricted Shares or any part
thereof and has no present plans to enter into any such contract, undertaking, understanding, agreement or arrangement; 
 (e) he or she understands that the legal consequences of the representations and warranties set forth herein are that he or she must bear the economic risks of this investment for an indefinite period of
time because the Restricted Shares have not been registered under the Securities Act, or the securities law of any state and, therefore, cannot be sold unless they are subsequently so registered (which the Corporation may not be obligated to do) or
an exemption from such registration is available and such sale is permitted by the Stockholders Agreement; 
 (f)
he or she understands that no federal or state agency has passed on or made any recommendation or endorsement of the Restricted Shares and that the Corporation is relying on the truth and accuracy of the representations, declarations and warranties
made herein by the Participant in offering the Restricted Shares to him or her without having first registered the Restricted Shares under the Securities Act and any applicable state securities laws; 

(g) he or she (i) is an “accredited investor” as defined in Rule 501(a) under the Securities Act,
(ii) is not, and is not required to be, registered as a broker-dealer under the Exchange Act, and (iii) is not and will not be acquiring the Restricted Shares as a result of any general solicitation or general advertisement; 

(h) he or she has completed his or her own independent inquiry and has relied fully upon the advice of his or her own
legal counsel, accountants, financial and other advisors in determining the legal, tax, financial and other consequences of this Agreement and the transactions contemplated hereby and the suitability of this Agreement and the transactions
contemplated hereby for the Participant and his or her 

  
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particular circumstances and has not relied upon any representation or advice by any stockholder of the Corporation or the Board; and 

(i) no representations, warranties or guarantees have been made to the Participant as to the returns or performance of the
Corporation, or with respect to any other matter, by any of the Board, the Corporation or any other Person affiliated with the Corporation. 
 3.6 Rights as Stockholder. The Participant shall be entitled to receive any dividends paid with respect to the Restricted Shares other than: (a) dividends for which the record date is prior to
the Grant Date and (b) dividends with respect to Restricted Shares subject to the Repurchase Right for which the record date is on or after (i) the date the Corporation makes available the consideration for the Restricted Shares to be
repurchased pursuant to Section 2.3(f) or (ii) the date the Participant’s employment with the Corporation terminates without Good Reason or for Cause. The Participant agrees and acknowledges that any dividends paid with respect to
Restricted Shares subject to the Repurchase Right as to which a Section 83(b) Election has not been made may be treated for all tax purposes as additional compensation for services paid to the Participant by the Corporation, as applicable. The
Participant shall be entitled to vote the Restricted Shares; provided, however, that the Participant shall not be entitled to vote the Restricted Shares if the record date for the vote is prior to the Grant Date. The Participant will
take such actions as the Corporation may reasonably request to implement the provisions of the preceding sentence. 
 ARTICLE
IV 
 MISCELLANEOUS 
 4.1 Section 83(b) Election. The Participant shall make an election pursuant to Code Section 83(b) with respect to Restricted Shares, in addition to complying with the requirements of
Section 1.2, he or she shall upon demand by the Corporation make a cash payment to the Corporation equal to the amount of any federal or state withholding or other taxes, if any, due from the Corporation with respect to Restricted Shares and
agrees and acknowledge that he will comply with all the requirements under Section 83(b) of the Code and the regulations thereunder to make such election effective. 
 4.2 Notices. All notices, requests and demands to or upon the parties hereto to be effective shall be in writing, and, unless otherwise expressly provided herein, shall be deemed to have been duly
given or made when delivered by hand, or three days after being deposited in the mail, postage prepaid, addressed as follows to the Corporation and the Participant, or to such other address as may be hereafter notified by the parties hereto:

 (i) If to the Corporation, to it at the following address: 

Platinum Energy Solutions, Inc. 
 2100 West Loop South, Suite 1601 
 Houston, Texas 77027

 Attn: Chief Executive Officer 

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

Kelley Drye & Warren LLP 

333 West Wacker Drive, Suite 2600 

Chicago, Illinois 60606 
 Attn: Timothy Lavender 
 (ii) If to the Participant, to his or her
most recent primary residential address as shown in the records of the Corporation. 
 4.3 No Right to Continued
Employment. The Participant acknowledges and agrees that, notwithstanding the fact that the vesting of the Restricted Shares is contingent upon his or her continued employment by the Corporation, this Agreement does not constitute an express or
implied promise of continued employment or confer upon the Participant any rights with respect to continued employment by the Corporation. 
 4.4 Amendments and Conflicting Agreements. This Agreement may be amended by (a) a written instrument executed by the parties which specifically states that it is amending this Agreement;
(b) by a written instrument executed by the Corporation which so states if such amendment is not adverse to the Participant or relates to administrative matters or (c) with respect to amendments pursuant to the Plan, by a written
instrument executed by the Corporation. Any term or provision of this Agreement may be waived in writing at any time by the party that is entitled to its benefits. The Restricted Shares awarded pursuant to this Agreement are subject to
the terms and conditions of the Plan and the Stockholders Agreement. In the event of a conflict between this Agreement and either the Plan or the Stockholders Agreement, the terms of the Plan and the Stockholders Agreement shall govern. In the event
of a conflict between the terms of the Plan and the Stockholders Agreement, the terms of the Stockholders Agreement shall govern. 
 4.5 Spousal Consent. If the Participant is married, the Participant has obtained the consent of his or her spouse to enter into this Agreement and such Participant’s spouse agrees to all of
the provisions of this Agreement. A copy of such consent is attached hereto as Exhibit A (the “Consent of Spouse”). 
 4.6 Interpretations and Definitions. The parties agree that each party and its, his or her counsel have reviewed this Agreement and that any rule of construction to the effect that ambiguities are
to be resolved against the drafting party shall not apply in the interpretation of this Agreement. In this Agreement the neuter and masculine gender include the feminine and masculine and a corporation, partnership, firm, trust or association and
the singular number includes the plural, whenever the context so requires. Whenever the word “including” is used herein, it shall be deemed to be followed by the phrase “without limitation.” Unless otherwise specified herein, all
determinations, consents, elections and other decisions by the Board may be made, withheld or delayed in its sole and absolute discretion, as applicable. References in this Agreement to a Section shall be to a Section of this Agreement unless
expressly stated to the contrary. 

  
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 4.7 GOVERNING LAW; JURISDICTION; WAIVER OF JURY TRIAL. 

(a) GOVERNING LAW. THIS AGREEMENT, ALL TRANSACTIONS CONTEMPLATED HEREBY, ALL RELATIONSHIPS BETWEEN THE PARTIES HEREUNDER AND ALL
DISPUTES BETWEEN THE PARTIES WITH RESPECT TO ANY OF THE FOREGOING SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE WITHOUT GIVING EFFECT TO ANY CONFLICT OF LAW PROVISION (WHETHER OF THE STATE OF DELAWARE OR ANY
OTHER JURISDICTION) THAT WOULD CAUSE THE APPLICATION OF THE LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF DELAWARE. 
 (b)
WAIVER OF PUNITIVE AND OTHER DAMAGES AND JURY TRIAL. 
 (i) EACH OF THE PARTIES EXPRESSLY WAIVES AND FORGOES ANY
RIGHT TO RECOVER PUNITIVE, EXEMPLARY, CONSEQUENTIAL OR SIMILAR DAMAGES IN ANY PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. 

(ii) EACH OF THE PARTIES ACKNOWLEDGES AND AGREES THAT ANY PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY
TRANSACTIONS CONTEMPLATED HEREBY, ANY RELATIONSHIPS BETWEEN THE PARTIES HEREUNDER AND ANY DISPUTES BETWEEN THE PARTIES WITH RESPECT TO ANY OF THE FOREGOING WILL INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH PARTY IRREVOCABLY AND
UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY SUCH PROCEEDING. 
 (iii) EACH
PARTY CERTIFIES AND ACKNOWLEDGES THAT: (A) NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ANY PROCEEDING ARISING UNDER OR RELATING TO THIS
AGREEMENT, SEEK TO ENFORCE EITHER OF THE FOREGOING WAIVERS; (B) HE, SHE OR IT UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF SUCH WAIVERS; (C) HE, SHE OR IT MAKES SUCH WAIVERS VOLUNTARILY; AND (D) HE, SHE OR IT HAS BEEN INDUCED TO
ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 
 4.8 Agreement
Binding on Transferees. This Agreement may be transferred or assigned by and shall be binding upon the Corporation, its successors, transferees and assigns. This Agreement may not be transferred or assigned by the Participant other than by will
or laws of descent and distribution and shall be binding upon any transferee or assignee of the Participant, including his or her heirs, personal representatives, executor, administrator, beneficiaries and permitted transferees, successors or
assigns. Any purported assignment not made in accordance with the preceding two sentences shall be null and void. 
 4.9
Titles. Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of this Agreement. 

  
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 4.10 Counterparts. This Agreement may be executed in several counterparts and via
facsimile or electronic mail; each such counterpart shall be considered an original agreement and all such executed counterparts shall constitute one Agreement. 
 4.11 Construction. The construction of this Agreement is vested in the Board, and the Board’s construction shall be final and conclusive on all Persons. 

* * * 

  
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 IN WITNESS WHEREOF, the Corporation has caused this Agreement to be executed by a
duly authorized officer. 
  

			
	PLATINUM ENERGY SOLUTIONS, INC.
		
	By:	 	 
	Name:	 	

 PARTICIPANT’S ACCEPTANCE 

The Participant acknowledges that he/she has read this Agreement, including the Exhibits hereto, has received and read the Plan, and
understands the terms and conditions of this Agreement and the Plan and hereby accepts the foregoing Restricted Shares and agrees to be bound by the terms and conditions of this Agreement and the Plan. 

 

	
	PARTICIPANT
	
	  
	

  
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 Exhibit A 

CONSENT OF SPOUSE 
 I,
                                         
   , the undersigned, am the spouse of [                        ](“Spouse”). I have
read and clearly understand the provisions of the Restricted Stock Agreement between Platinum Energy Solutions, Inc. (the “Corporation”) and my Spouse and the Stockholders Agreement dated as of March 3, 2011 (the
“Stockholders’ Agreement”) among Platinum Energy Solutions, Inc. and other parties named therein (including my Spouse pursuant to a Joinder Agreement), as the same may be amended from time to time(collectively, the
“Agreements”). 
 I am aware that my Spouse has an ownership interest in the Corporation that is subject to the
terms and provisions of the Agreements and the other documents referred to therein. I am aware that the Agreements contain provisions regarding the transfer of interests in the Corporation which my Spouse may own, including any interest I may have
therein. I am aware that my Spouse’s ownership interest in the Corporation is subject to forfeiture and repurchase by the Corporation and other stockholders in the event my Spouse ceases to provide services to or for the benefit of the
Corporation or any of its subsidiaries. I am aware that I may have a community interest in such ownership interest. 
 I hereby
agree that my interest, if any, in any shares of capital stock of the Corporation subject to the Agreements shall be irrevocably bound by the Agreements and further understand and agree that any community property interest I may have in such shares
of capital stock of the Corporation shall be similarly bound by the Agreements. 
 I am aware that the legal, financial and
related matters contained in the Agreements are complex and that I am free to seek independent professional guidance or counsel with respect to this Consent. I have either sought such guidance or counsel or determined after reviewing the Agreements
carefully that I will waive such right. 
 Dated:
                                 

 

			
	 
		
	Name:	 	 
		 	

 Exhibit B 

JOINDER TO STOCKHOLDERS’ AGREEMENT 
 This Joinder Agreement (this “Joinder Agreement”) is made as of the date written below by the undersigned (the “Joining Party”) in accordance with the Stockholders’
Agreement dated as of March 3, 2011 (the “Stockholders’ Agreement”) among Platinum Energy Solutions, Inc. and the other parties named therein, as the same may be amended from time to time. Capitalized terms used, but not
defined, herein shall have the meaning ascribed to such terms in the Stockholders’ Agreement. 
 The Joining Party hereby
acknowledges, agrees and confirms that, by its execution of this Joinder Agreement, the Joining Party shall be deemed to be a party to the Stockholders’ Agreement as of the date hereof and shall have all of the rights and obligations of a
“Stockholder” and an “Investor” thereunder as if it had executed the Stockholders’ Agreement. The Joining Party hereby ratifies, as of the date hereof, and agrees to be bound by, all of the terms, provisions and conditions
contained in the Stockholders’ Agreement. 
 IN WITNESS WHEREOF, the undersigned has executed this Joinder Agreement as of
the date written below. 
 Date:
                                
        ,              
  

	
	 
	
	Address for Notices:

  

 Exhibit C 
 Election to Include Value of Restricted Property in 
 Gross Income in Year
of Transfer Under Code §83(b) 
 The undersigned hereby elects pursuant to §83(b) of the Internal Revenue Code
with respect to the property described below and supplies the following information in accordance with the regulations promulgated thereunder: 

1. The name, address and taxpayer identification number of the undersigned are: 

 

							
		 	 	 	
		 	 SSN:  
	 	 	 	

 2. Description of property with respect to which the election is being made: 

                      
   shares of Common Stock, $0.001 per share, of Platinum Energy Solutions, Inc. (the “Corporation”). 
 3. The date on
which property was transferred and the taxable year for which election is made: 
 The property was transferred on
March 3, 2011. The taxable year for which this election is made is calendar year 2011. 
 4. The nature of the restriction(s) to which
the property is subject is: 

                      
   shares of Common Stock are subject to time based vesting, with                          shares of
Common Stock vesting on January 1, 2012,                  shares of Common Stock vesting on January 1, 2013,
                 shares of Common Stock vesting on January 1, 2014, and
                         shares of Common Stock vesting on January 1, 2015. 

In the event of the undersigned’s termination of employment with the Corporation without Good Reason or the Corporation’s
termination of the undersigned’s employment with the Corporation for Cause, the unvested Common Stock will be repurchased by the Corporation for $0.01 per share. 
 5. Fair market value: 
 The fair market value at time of transfer
(determined without regard to any restrictions other than restrictions which by their terms will never lapse) of the property with respect to which this election is being made is
$                            . 
 6. Amount paid for the property: 
 The amount paid for such property was
$0.00. 
 7. Furnishing statement to others: 
 A copy of this statement has been forwarded to the Corporation. 
 Dated:
[            ], 2011Form of Indemnification Agreement

 Exhibit 10.15 
 FORM OF INDEMNIFICATION AGREEMENT 
 This Agreement, made and entered
into this      day of                      20         (this
“Agreement”), by and between Platinum Energy Solutions, Inc., a Nevada corporation (“Company”), and
                     (“Indemnitee”): 
 WITNESSETH: 
 WHEREAS, it is in the best interests of the Company and its
stockholders to retain and attract as directors and officers the most capable and competent persons available; and 
 WHEREAS,
Indemnitee serves, or is expected to serve, as a director or officer of the Company, or both; and 
 WHEREAS, the Company and
Indemnitee recognize that there is a material risk of claims being asserted against directors and officers of companies including public companies, including claims without merit and claims asserting personal liability solely by reason of service as
such; and 
 WHEREAS, the Company recognizes that highly competent persons are becoming more reluctant to serve as directors or
in other capacities unless they are provided with adequate protection through insurance or adequate indemnification against such risk of claims; and 
 WHEREAS, the Board of Directors of the Company (the “Board”) has determined that the increased difficulty in attracting and retaining highly competent persons is detrimental to the best
interests of the Company and its stockholders and that the Company should act to assure such persons that there will be increased certainty of such protection in the future; and 

WHEREAS, protection against undue risk of personal liability of directors and officers is currently provided through certain insurance
coverage, but no assurance can be given that such insurance will be able to be maintained at reasonable cost or that such insurance coverage will be sufficient; and 
 WHEREAS, the Articles of Incorporation or Bylaws of the Company, or both, may generally require the Company to indemnify and advance expenses to directors and officers to the fullest extent permitted by
the Nevada Corporation Code, but no assurance can be given that any such requirement will not be changed in the future; and 

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

WHEREAS, Indemnitee is willing to serve or continue to serve as a director or officer, or both, of the Company on the condition that he
or she be so indemnified; and 

 NOW, THEREFORE, in consideration of the premises and the covenants contained herein and
other good, valuable and sufficient consideration, the receipt of which is hereby acknowledged, the Company and Indemnitee do hereby covenant and agree as follows: 
 Section 1. Service by Indemnitee. Indemnitee agrees to serve as a director and/or officer of the Company and agrees to the indemnification provisions provided for herein. Indemnitee may at any
time and for any reason resign from such position (subject to any other contractual obligation or any obligation imposed by operation of law). 
 Section 2. Indemnification. The Company shall indemnify, defend and hold harmless Indemnitee to the fullest extent permitted by applicable law in effect on the date hereof or as such laws may
from time to time be amended. The rights of indemnification of Indemnitee provided under this Agreement shall include but shall not be limited to those rights set forth hereinafter, except to the extent expressly prohibited by applicable law.

 Section 3. Actions or Proceedings Other Than Actions by or in the Right of the Company. Indemnitee shall be
entitled to the rights of indemnification provided in this Section 3 if he or she was, is or becomes a party to or witness or other participant in, or was, is or becomes threatened to be made a party to or witness or other participant in, any
claim or Proceeding, as defined below (other than a claim or Proceeding by or in the right of the Company to procure a judgment in its favor) by reason or arising out, in whole or in part, of an Indemnifiable Event (as defined below) or by reason of
anything done or not done by (i) another entity or (ii) Indemnitee in such capacity. Pursuant to this Section 3, Indemnitee shall be indemnified by the Company against expenses (including attorneys’ fees), judgments, fines and
amounts paid in settlement actually and reasonably incurred by Indemnitee in connection with such Proceeding (including, but not limited to, the investigation, defense or appeal thereof), if (a) the Company has given its prior written consent
(which shall not be unreasonably withheld) to such settlement and (b) Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company and, with respect to any criminal
Proceeding, had no reasonable cause to believe Indemnitee’s conduct was unlawful. For purposes hereof, (a) “Indemnifiable Event” shall mean any event or circumstance, whether occurring or existing before, on or after the
date of this Agreement, related to (i) the fact that Indemnitee is or was serving as a director, officer, employee, manager, trustee, agent or fiduciary of the Company or is or was serving at the request of or for the Company as a director,
officer, manager, employee, trustee, partner, advisor, consultant, representative, agent or fiduciary of another Person (as defined below) or (ii) anything done or not done by Indemnitee in any such capacity; and “Indemnifiable
Event” includes (1) a claim or Proceeding to enforce Indemnitee’s rights under this Agreement and (2) investigating, defending, being a witness in or participating in, or preparing to investigate, defend, be a witness in or
participate in, any claim or Proceeding in relation thereto, (b) “Liability” shall include any liability, duty, damage, judgment, settlement payment, responsibility, obligation, assessment, cost, expense, expenditure, charge,
fee, penalty, fine, contribution, excise tax, premium or obligation of any kind (including all interest, assessments and other charges paid or payable in respect thereof), whether known or unknown, asserted or unasserted, absolute or contingent,
accrued or unaccrued, liquidated or unliquidated, or due or to become due, and regardless of when sustained, incurred or asserted or when the relevant events occurred or circumstances existed, (c) “Person” shall include an
individual, a partnership, a sole proprietorship, a company, a firm, a corporation, a limited liability company, 

  
 2 

 
an association, a joint stock company, a trust, a joint venture, an unincorporated organization, an employee benefit plan or trust, a union, a group acting in concert, a judicial authority, a
governmental authority or any other entity, enterprise or association of any kind, and (e) “Proceeding” shall include any threatened, pending or completed action, suit, arbitration, mediation, litigation, hearing,
investigation, inquiry, appeal, review or other proceeding of any kind involving any governmental authority, any judicial authority or any other Person. 
 Section 4. Actions by or in the Right of the Company. Indemnitee shall be entitled to the rights of indemnification provided in this Section 4 if Indemnitee was or is a party or witness
or threatened to be made a party or witness to any Proceeding by or in the right of the Company to procure a judgment in its favor by reason or arising out, in whole or in part, of an Indemnifiable Event or by reason of anything done or not done by
Indemnitee in such capacity. Pursuant to this Section 4, Indemnitee shall be indemnified by the Company against expenses (including attorneys’ fees), costs and charges actually and reasonably incurred by Indemnitee in connection with such
Proceeding (including, but not limited to the investigation, defense, settlement or appeal thereof) if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, except
that no indemnification shall be made hereunder in respect of any claim, issue or matter as to which the Indemnitee shall be adjudged by a court of competent jurisdiction, after exhaustion of all appeals therefrom, to be liable to the Company unless
and only to the extent that the court in which such action or suit was brought or other court of competent jurisdiction shall determine upon application that, despite the adjudication of liability, but in view of all the circumstances of the case,
Indemnitee is fairly and reasonably entitled to indemnity for such expenses, costs and charges which such court shall deem proper. 
 Section 5. Indemnification for Expenses. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee has served as a witness or has been successful on the merits or
otherwise including, without limitation, the dismissal of an action without prejudice, in defense of any claim or Proceeding relating in whole or in part to an Indemnifiable Event referred to in Sections 3 and 4 above, or in defense of any claim,
issue or matter therein, including dismissal without prejudice, Indemnitee shall be indemnified by the Company against all expenses (including attorneys’ fees), costs and charges actually and reasonably incurred by Indemnitee or on
Indemnitee’s behalf in connection therewith. If requested by Indemnitee, the Company shall advance such expenses, costs and charges to Indemnitee subject to and in accordance with Section 7 in connection with any claim or Proceeding
brought by Indemnitee for (i) indemnification or advancement of expenses, hereunder or otherwise, or (ii) recovery under any directors’ and officers’ liability insurance policies maintained by the Company, regardless of whether
Indemnitee is ultimately determined to be entitled to such indemnification, advancement or recovery, as the case may be. 

Section 6. Defense of Claims. The Company shall be entitled to participate in the defense of any claim or Proceeding relating
to an Indemnifiable Event or to assume the defense thereof, with counsel reasonably satisfactory to Indemnitee; provided, that, if Indemnitee believes, after consultation with counsel selected by Indemnitee, that (i) the use of counsel chosen
by the Company to represent Indemnitee would present such counsel with an actual or potential conflict of interest, (ii) the named parties in any such claim or Proceeding (including any impleaded parties) include both the Company and Indemnitee
and Indemnitee concludes that 

  
 3 

 
there may be one or more legal defenses available to him or her that are different from or in addition to those available to the Company or (iii) representation by such counsel would be
precluded under the applicable standards of professional conduct then prevailing, then Indemnitee shall be entitled to retain separate counsel (but not more than one law firm, plus, if applicable, local counsel in respect of any particular claim or
Proceeding) at the Company’s expense pursuant to Section 7. The Company shall not, without the prior written consent of Indemnitee (not to be unreasonably withheld, conditioned or delayed), effect any settlement of any claim or Proceeding
relating to an Indemnifiable Event in respect of which Indemnitee has had or could have any expense, cost, charge, Liability or loss unless (i) such settlement solely involves the payment of money and includes a complete and unconditional
release of Indemnitee from all Liability on all causes of action that are the subject matter of such claim or Proceeding and (ii) all such expenses, costs, charges, Liabilities and losses will be paid or reimbursed by or for the Company without
any liability, obligation or responsibility on the part of Indemnitee. 
 Section 7. Advancement of Expenses. Any
expenses (including attorneys’ fees), costs and charges incurred in defending any Proceeding by Indemnitee or an Indemnitee’s behalf shall be paid by the Company in advance of the final disposition of such Proceeding within five
(5) business days following receipt by the Company of a written request for such advance, reasonably evidencing the expenses, costs and charges incurred by Indemnitee in connection therewith, accompanied by a written undertaking by or on behalf
of Indemnitee that Indemnitee will repay the amounts advanced if it shall ultimately be determined by a court of competent jurisdiction that Indemnitee is not entitled to be indemnified by the Company. Indemnitee’s undertaking to repay such
Expense Advances shall be unsecured and interest-free. 
 Section 8. Partial Indemnification. If Indemnitee is only
partially successful in the defense, investigation, settlement or appeal of any Proceeding described in Section 3 or 4 hereof, and as a result is not entitled under Section 5 hereof to indemnification by the Company for the total amount of
the expenses, costs and charges, judgments, penalties, fines and amounts paid in settlement actually and reasonably incurred by him or her, the Company shall nevertheless indemnify Indemnitee, as a matter of right pursuant to Section 5 hereof,
to the extent Indemnitee has been partially successful, for the portion thereof to which Indemnitee is entitled. 

Section 9. Procedure for Determination of Entitlement to Indemnification. Upon written request by Indemnitee for
indemnification pursuant to Section 3 or 4 hereof, the entitlement of Indemnitee to indemnification pursuant to the terms of this Agreement shall be determined by the following Person(s) who shall be empowered to make the determination that
indemnification of Indemnitee is proper in the circumstances because Indemnitee has met the applicable standard of conduct set forth in Sections 3 and 4 above by: (a) the stockholders; (b) the Board by a majority vote of a quorum
consisting of Disinterested Directors (as defined below); (c) if a majority vote of a quorum consisting of Disinterested Directors so orders, by Independent Counsel (as defined below), in a written opinion to the Board, a copy of which shall be
delivered to Indemnitee; or (d) if a quorum consisting of Disinterested Directors cannot be obtained, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee. Such Independent Counsel shall be
selected by the Board. Upon failure of the Board to so select such Independent Counsel such Independent Counsel shall be selected by the stockholders. Such determination of entitlement to indemnification shall be made no later

  
 4 

 
than 60 days after receipt by the Company of a written request for indemnification. Such request shall include documentation or information, which is necessary for such determination and which is
reasonably available to Indemnitee. Any expenses (including attorneys’ fees), costs and charges incurred by Indemnitee in connection with his or her request for indemnification hereunder shall be borne by the Company. The Company hereby
indemnifies and agrees to hold Indemnitee harmless therefrom irrespective of the outcome of the determination of Indemnitee’s entitlement to indemnification. If the Person(s) making such determination shall determine that Indemnitee is entitled
to indemnification as to part (but not all) of the application for indemnification, such Person(s) shall reasonably prorate such partial indemnification among such claims, issues or matters. For purposes hereof, (a) “Disinterested
Director” shall mean a director of the Company who is not or was not a party to the Proceeding in respect of which indemnification is being sought by Indemnitee, and (b) “Independent Counsel” shall mean a law firm or a
member of a law firm that is experienced in matters of corporate law and neither is presently nor in the past five (5) years has been retained to represent (i) the Company or Indemnitee in any matter material to either such party (other
than with respect to matters concerning the rights of Indemnitee under this Agreement or of other indemnitees under similar indemnity agreements) or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder
(provided, that notwithstanding the foregoing, the term “Independent Counsel” shall not include any Person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in
representing either the Company or Indemnitee in an action to determine Indemnitee’s right of indemnification under this Agreement). 
 Section 10. Cooperation. Indemnitee shall cooperate with the Person(s) making such determination with respect to Indemnitee’s entitlement to indemnification, including providing to such
Person(s) upon reasonable advance request any documentation or information that is not privileged or otherwise protected from disclosure and that is reasonably available to Indemnitee and reasonably necessary to such determination. Any Independent
Counsel, member of the Board or stockholder of the Company shall act reasonably and in good faith in making a determination regarding Indemnitee’s entitlement to indemnification under this Agreement. Any expenses, costs and charges incurred by
Indemnitee in so cooperating with the Person(s) making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the Company hereby indemnifies and agrees to hold
Indemnitee harmless therefrom. 
 Section 11. Presumptions and Effect of Certain Proceedings. The Secretary of the
Company shall, promptly upon receipt of Indemnitee’s request for indemnification, advise in writing the Board or such other Person(s) empowered to make the determination as provided in Section 8 that Indemnitee has made such request for
indemnification. Indemnitee shall be presumed to be entitled to indemnification hereunder and the Company shall have the burden of proof in the making of any determination contrary to such presumption. If the Person(s) so empowered to make such
determination shall have failed to make the requested indemnification within thirty (30) days after receipt by the Company of such request, the requisite determination of entitlement to indemnification shall be deemed to have been made and
Indemnitee shall be absolutely entitled to such indemnification in accordance with Section 3 or 4 hereof, absent actual and material fraud in the request for indemnification; provided, however, that such thirty (30)-day period may
be extended for a reasonable time, not to exceed an additional thirty (30)

  
 5 

 
days, if the Person(s) making such determination with respect to entitlement to indemnification in good faith requires such additional time to obtain or evaluate documentation and/or information
relating thereto. The termination of any Proceeding described in Section 3 hereof by judgment, order, settlement or conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself (a) create a
presumption that Indemnitee did not act in good faith and in a manner which he or she reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal Proceeding, that Indemnitee had reasonable
cause to believe that his or her conduct was unlawful or (b) otherwise adversely affect the rights of Indemnitee to indemnification except as may be provided herein. In addition, neither the failure of the Company’s Board of Directors or
one of its committees, Independent Counsel, the Company’s stockholders or any other Person to have made a determination as to whether Indemnitee has met any particular standard of conduct or had any particular belief, nor an actual
determination by any of them that Indemnitee has not met such standard of conduct or did not have such belief, prior to the commencement of Proceedings by Indemnitee to secure a judicial determination that Indemnitee should be indemnified, shall be
a defense to Indemnitee’s claim or create a presumption that Indemnitee has not met any particular standard of conduct or did not have any particular belief. 
 For purposes of this Agreement and all other purposes, Indemnitee shall be presumed to have acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests
of the Company if Indemnitee’s actions or omissions are taken in good faith reliance upon the records of the Company, including its financial statements, or upon information, opinions, reports or statements furnished to Indemnitee by the
officers or employees of the Company reasonably believed to be reliable and competent in the matters prepared or presented, or by committees of the Board on which the director or officer relying thereon does not serve, was established in accordance
with Nevada law, as to matters within such committee’s designated authority and matters on which such committee is reasonably believed to merit confidence, or by any other Person (including legal counsel, accountants and financial advisors) as
to matters which Indemnitee reasonably believes are within such other Person’s competence and who has been selected with reasonable care by or on behalf of the Company; provided, however, that the Indemnitee is not entitled to rely on such
information, opinions, reports, books of account of statements if the director or officer has knowledge concerning the matter in question that would cause reliance thereon to be unwarranted. In addition, the knowledge, actions and omissions of any
director, officer, agent, manager, representative, counsel, accountant, advisor, consultant, partner, trustee, manager, fiduciary or employee of the Company or its subsidiaries or other affiliates shall not be imputed to Indemnitee for purposes of
determining the right to indemnification or advancement of expenses, hereunder or otherwise. It shall in any event be presumed that Indemnitee has at all times acted in good faith and in a manner he or she reasonably believed to be in or not opposed
to the best interests of the Company. Anyone seeking to overcome this presumption shall have the burden of proof and the burden of persuasion by clear and convincing evidence. 
 Section 12. Remedies of Indemnitee in Cases of Determination not to Indemnify or to Advance Expenses. In the event that a determination is made that Indemnitee is not entitled to
indemnification hereunder or if payment has not been timely made following a determination of entitlement to indemnification pursuant to Sections 8 and 9, or if expenses, costs and charges are not advanced pursuant to Section 7, Indemnitee
shall be entitled to a final 

  
 6 

 
adjudication in an appropriate court of the State of Nevada or any other court of competent jurisdiction of his or her entitlement to such indemnification or advance. The Company shall not oppose
Indemnitee’s right to seek any such adjudication or any other claim. Such judicial Proceeding shall be made de novo and Indemnitee shall not be prejudiced by reason of a determination (if so made) that he or she is not entitled to
indemnification. If a determination is made or deemed to have been made pursuant to the terms of Section 8 or 9 hereof that Indemnitee is entitled to indemnification, the Company shall be bound by such determination and is precluded from
asserting that such determination has not been made or that the procedure by which such determination was made is not valid, binding and enforceable. The Company further agrees to stipulate in any such court that the Company is bound by all the
provisions of this Agreement and is precluded from making any assertion to the contrary. If the court shall determine that Indemnitee is entitled to any indemnification, payment or advancement of expenses, costs and charges hereunder, the Company
shall pay all reasonable expenses (including attorneys’ fees), costs and charges actually incurred by Indemnitee in connection with such adjudication (including, but not limited to, any appellate Proceedings). 

Section 13. Other Rights to Indemnification. The indemnification and advancement of expenses (including attorneys’
fees), costs and charges provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may now or in the future be entitled under the Company’s Articles of Incorporation or Bylaws, any agreement, any vote of
stockholders or Disinterested Directors, or any provision of law or otherwise, both as to action in Indemnitee’s official capacity and as to action in another capacity while holding such office, unless a final adjudication establishes that the
director’s or officer’s acts or omissions involved intentional misconduct, fraud or a knowing violation of the law and was material to the cause of action. Nothing contained in this Agreement (including the pendency of any review of any
matter within the subject matter of this Agreement) shall limit, restrict or impair the right, power or authority of Indemnitee (i) to seek enforcement of this Agreement or exercise of other rights to indemnification or advancement of expenses
or (ii) under any directors’ and officers’ liability insurance policies maintained by the Company, in each case at any time and from time to time and by any means. 

Section 14. Subsequent Change in Law. To the extent that a change in applicable law (whether by statute or judicial decision)
permits greater indemnification by agreement than would be afforded currently under the Company’s Articles of Incorporation or Bylaws or this Agreement, this Agreement shall automatically and without further action by the parties hereto be
deemed amended to provide for such greater indemnification. 
 Section 15. Attorneys’ Fees and Other Expenses to
Enforce Agreement. In the event that Indemnitee is subject to or intervenes in any Proceeding in which the validity or enforceability of this Agreement is at issue or seeks an adjudication or award in arbitration to enforce his or her rights
under, or to recover damages for breach of this Agreement, Indemnitee, if he or she prevails in whole or in part in such action, shall be entitled to recover from the Company, and shall be indemnified by the Company against any actual expenses,
costs and charges for attorneys’ fees and disbursements reasonably incurred by him or her. 
 Section 16.
Limitations. Notwithstanding anything in this Agreement to the contrary, Indemnitee shall not be entitled to indemnification or advancement of expenses, costs 

  
 7 

 
and charges or other rights or benefits pursuant to this Agreement in connection with any claim or Proceeding initiated by Indemnitee unless the claim or Proceeding is one to enforce
Indemnitee’s rights under this Agreement. Notwithstanding any other provision herein to the contrary, the Company shall not be obligated pursuant to this Agreement, to indemnify or advance expenses to Indemnitee with respect to a claim or
Proceeding (or part thereof) initiated by Indemnitee, except with respect to a claim or Proceeding brought to establish or enforce a right to indemnification, unless the Company joined in such claim or Proceeding (or part thereof) or such claim or
Proceeding (or part thereof) was authorized or consented to by the Board. 
 Section 17. No Duplication of Payments.
The Company shall not be liable to make any payment hereunder to the extent that Indemnitee has actually received payment (under any insurance policy, provision of the Company’s Articles of Incorporation or Bylaws, or otherwise) of the amounts
otherwise payable hereunder. 
 Section 18. Liability Insurance. To the extent the Company maintains a policy or
policies providing directors’ and officers’ liability insurance, the Company shall cause Indemnitee to be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for any
director or officer of the Company. 
 Section 19. Subrogation. In the event of payment under this Agreement, the
Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers reasonably required and shall do everything that may be reasonably necessary to secure such rights, including the
execution of such documents necessary to enable the Company effectively to commence and prosecute a Proceeding to enforce such rights. 
 Section 20. Duration of Agreement. The indemnification and advancement of expenses, costs and charges provided by, or granted pursuant to, this Agreement shall continue for Indemnitee after he
or she has ceased to be an officer or director of the Company, as applicable, and shall inure to the benefit of the heirs, executors, administrators or other legal representatives of Indemnitee. This Agreement shall be binding upon the Company and
its successors and assigns (collectively “Successors”), and the Company shall require any Successor (whether by purchase, merger, consolidation or reorganization), by agreement in form and substance reasonably satisfactory to
Indemnitee expressly to assume and agree to perform this Agreement in the same manner and to the same extent the Company would be required to perform if no such succession had taken place. 

Section 21. Severability. If any provision of this Agreement shall be held to be invalid, illegal or unenforceable for any
reason whatsoever (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including without limitation, all portions of any paragraphs of this Agreement containing any such provision held to be invalid,
illegal or unenforceable) shall not in any way be affected or impaired thereby and (b) to the fullest extent possible, the provisions of this Agreement (including, without limitation, all portions of any paragraph of this Agreement containing
any such provisions held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested by the provision held invalid, illegal or unenforceable.

  
 8 

 Section 22. Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall for all purposes be deemed to be an original, but all of which together shall constitute one and the same agreement. Only one such counterpart signed by the party against whom enforceability is sought needs to be
produced to evidence the existence of this Agreement. This Agreement shall become effective at such time as counterparts shall have been executed and delivered by each of the parties hereto, regardless of whether each of the parties hereto has
executed the same counterpart. A facsimile or PDF of an original shall be as effective as delivery of such original. 

Section 23. Headings. The headings set forth herein have been inserted for convenience of reference only and shall not be
deemed to constitute part of this Agreement or to affect the meaning or interpretation hereof.  
 Section 24.
Modification and Waiver. No supplement, modification, termination or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of, or agreement or confirmation under, any provision hereof
shall be binding upon a party hereto unless such waiver is expressly set forth in a written instrument that is executed and delivered by such party. Neither the exercise (from time to time and at any time) by a party hereto of, nor the delay or
failure (at any time or for any period of time) to exercise, any right, power or remedy shall constitute a waiver of the right to exercise, or impair, limit or restrict the exercise of, such right, power or remedy or any other right, power or remedy
at any time and from time to time thereafter. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing
waiver. 
 Section 25. Notice by Indemnitee. Indemnitee agrees promptly to notify the Company in writing upon being
served with any summons, citation, subpoena, complaint, indictment, information or other document relating to any matter which may be subject to indemnification covered hereunder, either civil, criminal or investigative. The failure to so notify the
Company shall not relieve the Company of any obligation that it may have to Indemnitee under this Agreement or otherwise unless and only to the extent that such failure or delay materially prejudices the Company. 

Section 26. Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be
deemed to have been duly given if (i) delivered by hand and received by the party to whom such notice or other communication shall have been directed as evidenced by affidavit of or receipt from the messenger, (ii) sent by facsimile (with
telephonic confirmation of receipt), (iii) sent by overnight mail by a nationally recognized overnight courier, on the date of the receipt confirmation, or (iv) mailed by certified or registered mail (return receipt requested, postage
prepaid) on the third business day after the date on which it is so mailed, as follows: 
  

					
	 (a)
	  	if to Indemnitee, to:	  	
			
		  	  
	  	
		  	  
	  	
		  	  
	  	

  
 9 

 Telephone: [            ]

 Facsimile: [            ] 

 

	 	(b)	if to the Company, to: 

Platinum Energy Solutions, Inc. 
 2100 West Loop South 
 Suite 1601 

Houston, TX 77027 
 Attention: Secretary 
 Telephone: 713-622-7731 

Facsimile: 832-553-7431 
 or to
such other address as may have been furnished to Indemnitee by the Company or to the Company by Indemnitee, as the case may be. 

Section 27. Governing Law and Jurisdiction. THE PARTIES AGREE THAT THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND
ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEVADA (WITHOUT GIVING EFFECT TO ANY CHOICE OR CONFLICT OF LAW RULE THAT WOULD CAUSE THE APPLICATION OF THE LAWS OF ANY JURISDICTION OTHER THAN THE INTERNAL LAWS OF THE STATE OF NEVADA TO THE
RIGHTS AND DUTIES OF THE PARTIES). Each of the parties hereto agrees that any proceeding arising out of or relating to this letter agreement or the breach or threatened breach hereof shall be commenced and prosecuted in a court in the State of
Nevada. Each party hereto consents and submits to the exclusive personal jurisdiction of any court in the State of Nevada in respect of any such proceeding. Each party hereto consents to service of process upon it with respect to any such proceeding
by any means by which notices may be transmitted hereunder or by any other means permitted by applicable laws and rules. Each party hereto waives any objection that it may now or hereafter have to the laying of venue of any such proceeding in any
court in the State of Nevada and any claim that it may now or hereafter have that any such proceeding in any court in the State of Nevada has been brought in an inconvenient forum. 

Section 28. Entire Agreement and References. This Agreement constitutes the entire agreement between the parties hereto with
respect to the subject matter hereof and cancels and supersedes all of the previous or contemporaneous contracts, representations, warranties and understandings (whether oral or written) by or between the parties hereto with respect to the subject
matter hereof. As used herein, the words “including” and “include” shall in all cases be deemed to be followed by the phrase “without limitation.” 
 [remainder of page intentionally left blank] 

  
 10 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year
first above written. 
  

			
	Platinum Energy Solutions, Inc.
		
	By:	 	  

		 	Name:
		 	Title:
	
	Indemnitee
	
	  

  
 11

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