Document:

exv10w15

Exhibit 10.15

EXECUTION COPY

EMPLOYMENT AGREEMENT

     The parties to this Employment Agreement (the “Agreement”) are Brian J. Bell (the
“Executive”), residing at 25 Colony Court, Stamford, Connecticut 06905, and ORBCOMM Inc. (the
“Company”), a company organized under the laws of Delaware, with principal offices located at 2115
Linwood Avenue, Suite 100, Fort Lee, New Jersey 07024. Effective as of the Start Date (as defined
below), this Agreement amends, restates and supersedes in its entirety the Employment Agreement
between the Executive and the Company that was effective as of July 1, 2009 (the “2009 Agreement”),
except as otherwise provided in Section 8(b) below.

     The Company desires to provide for the Executive’s continued employment by the Company, and
the Executive desires to accept such continued employment under the terms and conditions contained
herein, and the parties hereto have agreed as follows:

          1. Employment. The Company shall employ the Executive, and the Executive shall
serve the Company, as Executive Vice President, Sales & Marketing, with duties and responsibilities
compatible with that position. The Executive agrees to devote his full time, attention, skill, and
energy to fulfilling his duties and responsibilities hereunder. The Executive’s services shall be
performed principally at the Company’s headquarters or such other principal location in the eastern
United States as the Company shall determine. As set forth in Section 3(g) below, the Company
reserves the right to relocate the Executive to its offices in Dulles, Virginia.

          2. Term of Employment. The Executive’s employment under this Agreement shall commence
as of December 31, 2010 (the “Start Date”) and shall continue through December 31, 2011 (the
“Initial Term”). Upon the expiration of the Initial Term or any extension thereof, the Initial
Term or the extended term, as applicable, shall be automatically extended by twelve (12) additional
calendar months through the next December 31st, unless either party hereto notifies the other party
in writing at least ninety (90) days in advance of such expiration that he or it does not want such
extension to occur (a “Notice of Non-Extension”), in which case the Initial Term or the extended
term, as applicable, will not be further extended and the Executive’s employment will terminate
upon such expiration. Notwithstanding the foregoing, the Executive’s employment with the Company
may be terminated prior to the expiration of the Initial Term or any extended term pursuant to the
provisions of Section 4 or 5 below. Hereinafter, the period of the Executive’s employment with the
Company is referred to as the “Term.”

          3. Compensation. As full compensation for the services provided under this Agreement,
the Executive shall be entitled to receive the following compensation during the Term:

 

 

          (a) Base Salary. The Executive shall be entitled to receive an annual base salary
(the “Base Salary”) of $205,000. Upon each anniversary of the Start Date, the Base Salary may be
increased by the Company in its sole discretion. Base Salary payments hereunder shall be made in
arrears in substantially equal installments (not less frequently than monthly) in accordance with
the Company’s customary payroll practices for its other executives, as those practices may exist
from time to time.

          (b) Bonus. For each calendar year, the Executive shall also be eligible to receive a
bonus (the “Bonus”) equal to up to 75% of Base Salary, determined based on the achievement of
performance targets (both financial and qualitative) established each year by the Board of
Directors of the Company. In order to receive such a Bonus, if any, the Executive must be actively
employed by the Company on the date on which such Bonus is scheduled to be paid to the Executive
and not have had his employment terminated with “cause” pursuant to Section 4(c) below prior to the
payment of such Bonus. Further, if the Company establishes a bonus plan or program in which the
Company’s executives are generally permitted to participate, then the Executive shall be entitled
to participate in such plan or program. The terms and conditions of the Executive’s participation
in, and/or any award under, any such plan or program shall be in accordance with the controlling
plan or program documents.

          Any Bonus hereunder will be paid during the year following the fiscal year for which the Bonus
is being paid, provided that the Bonus will be paid no earlier than the rendering of the Company’s
audited financial statements for that fiscal year and in any case no later than the earlier of (i)
30 days after such rendering of the Company’s audited financial statements for that fiscal year and
(ii) June 30th of the year following that fiscal year.

          (c) Employee Benefits. Subject to the Executive satisfying and continuing to satisfy
any plan or program eligibility requirements and other terms and conditions of the plan or program,
the Executive shall be entitled to receive Company-paid medical and disability insurance,
Company-paid term life insurance (which shall provide for a death benefit payable to the
Executive’s beneficiary), Company-paid holiday and vacation time, and other Company-paid employee
benefits (collectively, “Employee Benefits”), at least equivalent to those provided to other
executives of the Company generally, subject to applicable policy limitations and maximums. In
addition, the Executive shall be entitled to participate in any profit sharing plan and/or pension
plan generally provided for the executives of the Company or any of its subsidiaries, provided that
the Executive satisfies any eligibility requirements for participation in any such plan.
Notwithstanding the foregoing, the Company reserves the right to amend, modify, or terminate, in
its sole discretion and consistent with applicable law, any Employee Benefit and any Employee
Benefit plan, program or arrangement provided to employees in general.

          (d) Equity Plan Participation. The Executive shall be entitled to participate in any
equity incentive plan established by the Company in which the Company’s executives generally are
permitted to participate. The terms and conditions of the Executive’s participation in, and/or any
award under, any such plan shall be in accordance with the applicable controlling plan document
and/or award agreement.

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          (e) Expenses. The Company shall reimburse the Executive for all reasonable expenses
incurred by him in connection with the performance of his duties under this Agreement, upon his
presentation of appropriate vouchers and/or documentation covering such expenses. Without limiting
the generality of the foregoing, the Company shall reimburse the Executive for all reasonable
transportation, lodging, food, and other expenses incurred by him in connection with traveling on
Company business.

          (f) Automobile. The Company shall reimburse the Executive for up to $700 per month
for automobile expenses, including lease, insurance, and maintenance costs.

          (g) Relocation. In the event that the Company elects to relocate the Executive to its
offices in Dulles, Virginia, the Company will reimburse the Executive for his reasonable expenses
incurred as a result of such relocation (including, without limitation, brokerage fees incurred in
connection with selling the Executive’s primary residence), as reasonably approved by the Company,
provided that the total amount of such reimbursement will not exceed 50% of the Base Salary. Any
such reimbursement will be made by the Company within thirty (30) days of the Executive’s
submission of such expenses for reimbursement (including any supporting documentation requested by
the Company). The Executive agrees that he will submit any such reimbursement request, with
requested supporting documents, to the Company no later than February 13th of the year following
the year in which the underlying expense is incurred so that the Company may make such
reimbursement no later than March 15th of the year following the year in which the underlying
expense is incurred.

          (h) Withholdings. All payments made under this Section 3, or any other provision of
this Agreement, shall be subject to any and all federal, state, and local taxes and other
withholdings to the extent required by applicable law.

          4. Termination of Employment.

          (a) Absence. If the Executive shall fail or be unable to perform his essential duties
under this Agreement for any reason, including a physical or mental disability, with or without
reasonable accommodation, for one hundred eighty (180) calendar days during any twelve (12) month
period or for one hundred (120) consecutive calendar days, then the Company may, by notice to the
Executive, terminate his employment under this Agreement as of the date of the notice. Any such
termination shall be made only in accordance with applicable law.

          (b) Death. The Executive’s employment under this Agreement shall terminate
automatically upon his death.

          (c) Termination by the Company. The Company shall have the right, exercisable at any
time in its sole discretion, to terminate the employment of the Executive for
any reason whatsoever with or without “cause” (as defined below). The Executive’s employment

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shall not be deemed to have been terminated with “cause” unless he shall have received written
notice from the Company at or prior to the termination of employment advising him of the specific
acts or omissions alleged to constitute “cause” and, in the case of those acts or omissions that
are reasonably capable of being corrected, those acts or omissions continue uncorrected after he
shall have had a reasonable opportunity (not to exceed fifteen (15) calendar days) to correct them.

          As used in this Agreement, termination with “cause” shall mean only the Executive’s
involuntary termination for reason of (i) the Executive’s breach of a fiduciary duty of loyalty
owed to the Company or any of its subsidiaries, (ii) the Executive’s conviction of a crime or plea
of guilty or no contest to a crime, (iii) the Executive’s gross negligence in the performance of
his duties, (iv) the Executive’s willful misconduct, including, without limitation, embezzlement,
(v) the Executive’s material breach of this Agreement, or (vi) conduct by the Executive beyond the
scope of his authority as an officer and employee of the Company, which conduct gives rise to a
hearing before any governmental department or agency seeking termination or revocation of any
governmental license.

          (d) Termination by the Executive.

          (i) The Executive shall have the right to terminate his employment with the Company, provided
that he provides the Company with at least two (2) months of advance written notice of such
decision. Upon the receipt of such notice from the Executive, the Company may in its sole
discretion accelerate such two-month period in order to make such termination effective sooner,
and/or may withdraw any and all duties from the Executive and exclude him from the Company’s
premises during the notice period.

          (ii) Notwithstanding Section 4(d)(i) above, in the event that the Company elects to relocate
the Executive to its offices in Dulles, Virginia in accordance with Section 3(g) above, such
election to be communicated to the Executive in writing, and the Executive elects not to relocate,
such decision will be deemed to be a voluntary resignation of employment by the Executive to be
effective upon a date to be mutually agreed upon by the parties hereto or, failing such agreement,
two (2) months following the date on which the Executive notifies the Company of his decision not
to relocate.

          (e) Severance. If the Company terminates the Executive’s employment without “cause”
pursuant to Section 4(c) above, or the Executive’s employment terminates as a result of a Notice of
Non-Extension provided to the Executive by the Company pursuant to Section 2 above, then, subject
to the Executive’s execution of the Release attached hereto as Exhibit A (or in a substantially
similar form as the Company deems necessary in order to comply with then applicable law) (the
“Release”) and the Release becoming effective in accordance with its terms not later than the 60th
day following the Executive’s termination of employment, the
Executive shall be entitled (i) to receive, as severance payments, ninety (90) days of his
then

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Base Salary, payable in accordance with the Company’s payroll schedule in effect from time to
time (the “Severance Payments”), and (ii) to the extent he is then a participant in the Company’s
health insurance plan and eligible for benefits under plan terms, and only if the benefit under
this clause (ii) does not cause the Company to fail to satisfy the requirements of, or be in
violation of, Section 2716 of the Public Health Service Act or Section 9815 of the Internal Revenue
Code, to continued health insurance coverage for ninety (90) days immediately following such
termination at then existing employee contribution rates, which the Executive shall pay (such
continued coverage to run concurrently with any continued coverage obligation under the federal law
known as COBRA or any state equivalent) (such severance payments and continued health insurance
coverage being the Executive’s sole entitlement upon any such termination). Subject to the last
paragraph of this Section 4(e), the Severance Payments will begin to be paid on the 60th day
following the Executive’s termination of employment. Subject only to the Executive’s delivery of
an executed Release and such Release becoming effective within the provided sixty-day period, the
Company’s obligation under this Section 4(e) shall be absolute and unconditional, and the Executive
shall be entitled to such severance benefits regardless of the amount of compensation and benefits
the Executive may earn or be entitled to with respect to any other employment he may obtain during
the period for which severance payments are payable.

          If the Executive’s employment with the Company is terminated pursuant to Section 4(d)(ii)
above, the Executive shall be entitled to severance benefits in accordance with, and subject to the
Release requirement of, the preceding paragraph as if his employment were terminated by the Company
without “cause.”

          If the Executive’s employment with the Company is terminated pursuant to Sections 4(a) or 4(b)
above, if the Company terminates the Executive’s employment with “cause” pursuant to Section 4(c)
above, if the Executive terminates his employment pursuant to Section 4(d)(i) above (but not
pursuant to Section 4(d)(ii) above), or if the Executive’s employment terminates as a result of a
Notice of Non-Extension provided to the Company by the Executive, then the Executive shall not be
entitled to any further payments under this Agreement, including Base Salary, Bonus, Employee
Benefits, or severance, except as otherwise required by applicable law.

          To the extent that any amount payable under this Agreement constitutes an amount payable under
a “nonqualified deferred compensation plan” (as defined in Section 409A of the Internal Revenue
Code (hereinafter, “Code Section 409A”)) that is not exempt from Code Section 409A, and such amount
is payable as a result of a “separation from service” (as defined in Code Section 409A), including
any amount payable under this Section 4 or Section 5 below, then, notwithstanding any other
provision in this Agreement to the contrary, such payment will not be made to the Executive until
the day after the date that is six months following his separation from service (the “Specified
Employee Payment Date”), but only if, as of his separation from service, he is a “specified
employee” under Code Section 409A and any relevant procedures that the Company may establish. For
the avoidance of doubt, on the Specified
Employee Payment Date, the Executive will be paid in a single lump sum all payments that
otherwise would have been made to him under this Agreement during the six-month period but

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were not
because of this paragraph. This paragraph will not be applicable after the Executive’s death.

          5. Merger or Sale of Assets. If a “Change of Control” occurs, then the Executive
shall be entitled to severance benefits upon the termination of his employment thereafter in
accordance with, and subject to the Release requirement of, Section 4(e) above as if his employment
were terminated by the Company without “cause,” unless the successor or transferee entity continues
the Executive’s employment on substantially equivalent terms and substantially equivalent
responsibilities as set forth in Section 1 above. This Agreement shall be binding on any and all
successors and/or assigns of the Company, and the Company may assign its rights and obligations
under this Agreement in connection with a Change of Control to the successor or transferee entity
without the Executive’s consent.

          “Change of Control” means (a) the Company’s merger or consolidation with another corporation
or entity, (b) the Company’s transfer of all or substantially all of its assets to another person,
corporation, or other entity, or (c) a sale of the Company’s stock in a single transaction or
series of related transactions that results in the holders of the outstanding voting power of the
Company immediately prior to such transaction or series of transactions owning less than a majority
of the outstanding voting securities for the election of directors of the surviving company or
entity immediately following such transaction or series of transactions (other than any registered,
underwritten public offering by the Company of the Company’s stock or pursuant to any stock-based
compensation plan of the Company).

          6. Obligations of the Executive.

          (a) Protectable Interests of the Company. The Executive acknowledges that he has
played and will continue to play an important role in establishing the goodwill of the Company and
its related entities, including relationships with clients, employees, and suppliers. The
Executive further acknowledges that over the course of his employment with the Company, he has and
will continue to (i) develop special relationships with clients, employees, and/or suppliers,
and/or (ii) be privy to Confidential Information (as defined below). As such, the Executive agrees
to the restrictions below in order to protect such interests on behalf of the Company, which
restrictions the parties hereto agree to be reasonable and necessary to protect such interests.

          (b) Non-Competition. During the Executive’s employment and for the one (1) year
period immediately thereafter, or, if greater, for the period of time during which the Executive is
receiving severance payments under Sections 4(e) or 5 above, the Executive shall not, anywhere in
the world, whether directly or indirectly, for himself or for any third party: (i) engage in any
business activity; (ii) provide professional services to another person or entity (whether as an
employee, consultant, or otherwise); or (iii) become a partner, member, principal,
or stockholder in any entity; and in each such case, that is in competition with the Business.
For purposes of this Section 6(b) and Section 6(c) below, “Business” shall mean the business of

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offering wireless data communication services, including for the purpose of tracking and/or
monitoring fixed or mobile assets, the business of designing, manufacturing or distributing modems
that operate on such services, or any other business in which the Company is materially engaged
during the six (6) month period immediately preceding the Executive’s termination of employment.
The Executive acknowledges and understands that, due to the global nature of the Company’s business
and the technological advancements in electronic communications around the world, any geographic
restriction of the Executive’s obligation under this Section 6(b) would be inappropriate and
counter to the protections sought by the Company hereunder.

          (c) Non-Solicitation. During the Executive’s employment and for the two (2) year
period immediately thereafter, the Executive shall not, anywhere in the world, whether directly or
indirectly, for himself or for any third party: (i) solicit any business or contracts, or enter
into any business or contract, directly or indirectly, with any supplier, licensee, customer, or
partner of the Company that (A) was a supplier, licensee, customer, or partner of the Company at,
or within six (6) months prior to, the termination of Executive’s employment, or (B) was a
prospective supplier, licensee, customer, or partner of the Business at the time of the Executive’s
termination of employment, and in either case, for purposes of engaging in an activity that is in
competition with the Business; or (ii) solicit or recruit, directly or indirectly, any of the
Company’s or its subsidiaries’ employees, or any individuals who were employed by the Company or
its subsidiaries within six (6) months prior to the termination of the Executive’s employment, for
employment or engagement (whether as an employee, consultant, or otherwise) with a person or entity
involved in marketing or selling products or services competitive with the Business. The Executive
acknowledges and understands that, due to the global nature of the Company’s business and the
technological advancements in electronic communications around the world, any geographic
restriction of the Executive’s obligation under this Section 6(c) would be inappropriate and
counter to the protections sought by the Company hereunder.

          (d) Confidential Information. The Executive acknowledges that during the course of
his employment with the Company, he has had and will continue to have access to information about
the Company, and its clients and suppliers, that is confidential and/or proprietary in nature, and
which belongs to the Company. As such, at all times, both during his employment and thereafter,
the Executive will hold in the strictest confidence, and not use or attempt to use except for the
benefit of the Company, and not disclose to any other person or entity (without the prior written
authorization of the Company) any Confidential Information (as defined below). Notwithstanding
anything contained in this Section 6(d), the Executive will be permitted to disclose any
Confidential Information to the extent required by validly issued legal process or court order,
provided that the Executive notifies the Company immediately of any such legal process or court
order in an effort to allow the Company to challenge such legal process or court order, if the
Company so elects, prior to the Executive’s disclosure of any Confidential Information.

          For purposes of this Agreement, “Confidential Information” means any confidential or
proprietary information which belongs to the Company, or any of its clients or suppliers, including
without limitation, technical data, market data, trade secrets, trademarks,

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service marks,
copyrights, other intellectual property, know-how, research, business plans, product information,
projects, services, client lists and information, client preferences, client transactions, supplier
lists and information, supplier rates, software, hardware, technology, inventions, developments,
processes, formulas, designs, drawings, marketing methods and strategies, pricing strategies, sales
methods, financial information, revenue figures, account information, credit information, financing
arrangements, and other information disclosed to the Executive by the Company or otherwise obtained
by the Executive during the course of his employment, directly or indirectly, and whether in
writing, orally, or by electronic records, drawings, pictures, or inspection of tangible property.
“Confidential Information” does not include any of the foregoing information which has entered the
public domain other than by a breach of this Agreement or the breach of any other obligation to
maintain confidentiality of which the Executive is aware.

          (e) Return of Company Property. Upon the termination of the Executive’s employment
with the Company (whether upon the expiration of the Term or otherwise), or at any time during such
employment upon request by the Company, the Executive will promptly deliver to the Company and not
keep in his possession, recreate, or deliver to any other person or entity, any and all property
which belongs to the Company, or which belongs to any other third party and is in the Executive’s
possession as a result of his employment with the Company, including without limitation, computer
hardware and software, palm pilots, pagers, cell phones, other electronic equipment, records, data,
client lists and information, supplier lists and information, notes, reports, correspondence,
financial information, account information, product information, files, and other documents and
information, including any and all copies of the foregoing.

          (f) Ownership of Property. The Executive acknowledges that all inventions,
innovations, improvements, developments, methods, processes, programs, designs, analyses, drawings,
reports and all similar or related information (whether or not patentable) that relate to the
Company’s or any of its affiliates’ actual or anticipated business, research, and development, or
existing or future products or services, and that are conceived, developed, contributed to, made,
or reduced to practice by Executive (either solely or jointly with others) while engaged by the
Company or any of its affiliates (including any of the foregoing that constitutes any Confidential
Information) (“Work Product”) belong to the Company or such affiliate, and the Executive hereby
assigns, and agrees to assign, all of the above Work Product to the Company or such affiliate.

          (g) Judicial Modification. The Executive acknowledges that it is the intent of the
parties hereto that the restrictions contained or referenced in this Section 6 be enforced to the
fullest extent permissible under the laws of each jurisdiction in which enforcement is sought. If
any of the restrictions contained or referenced in this Section 6 is for any reason held by an
arbitrator or court to be excessively broad as to duration, activity, geographical scope, or
subject,
then, for purposes of that jurisdiction, such restriction shall be construed, “blue penciled”
or judicially modified so as to thereafter be limited or reduced to the extent required to be
enforceable in accordance with applicable law.

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          (h) Equitable Relief. The Executive acknowledges that the remedy at law for his
breach of this Section 6 will be inadequate, and that the damages flowing from such breach will not
be readily susceptible to being measured in monetary terms. Accordingly, upon a violation of any
part of this Section 6, the Company shall be entitled to immediate injunctive relief (or other
equitable relief) from any court with proper jurisdiction and may obtain a temporary order
restraining any further violation. No bond or other security shall be required in obtaining such
equitable relief, and the Executive hereby consents to the issuance of such equitable relief.
Nothing in this Section 6(h) shall be deemed to limit the Company’s remedies at law or in equity
for any breach by the Executive of any of the parts of this Section 6 which may be pursued or
availed of by the Company.

          7. Arbitration. Except as provided in Section 6(h) above, any dispute or controversy
between the parties hereto, whether during the Term or thereafter, including without limitation,
any and all matters relating to this Agreement, the Executive’s employment with the Company and the
cessation thereof, shall be settled by arbitration administered by the American Arbitration
Association (“AAA”) in New York, New York pursuant to the AAA’s National Rules for the Resolution
of Employment Disputes (or their equivalent), which arbitration shall be confidential, final, and
binding to the fullest extent permitted by law. The parties agree to waive their right to a trial
by jury and agree that they will not make a demand, request or motion for a trial by jury or court.
This agreement to arbitrate shall be binding upon the heirs, successors, and assigns and any
trustee, receiver, or executor of each party. A party shall initiate the arbitration process by
delivering a written notice of such party’s intention to arbitrate to the other party at the
address set forth above and by filing the appropriate notice with the AAA. The parties shall
select an arbitrator by mutual agreement, within thirty (30) days after the written notice of
intention to arbitrate is received, from a list of eligible arbitrators received from the AAA who
are on its Employment Dispute Resolution roster (or the equivalent thereof). If the parties fail
to agree on an arbitrator, the AAA Administrator or his/her delegate shall select an arbitrator,
who is a member of the AAA’s Employment Dispute Resolution roster (or the equivalent thereof).
There shall be one arbitrator. The arbitrator shall have the authority to resolve all issues in
dispute, including the arbitrator’s own jurisdiction, whether any dispute must be arbitrated
hereunder, and whether this Section 7 is void or voidable, and to award compensatory remedies and
other remedies permitted by law. The arbitrator shall decide the matters in dispute in accordance
with the governing law provisions of this Agreement, except that the parties agree that this
agreement to arbitrate shall be governed by the Federal Arbitration Act, 9 U.S.C. § 1, et seq. The
award of the arbitrator shall be final and shall be the sole and exclusive remedy between the
parties regarding any claims, counterclaims, issues, or accountings. Except as otherwise provided
by the arbitrator in accordance with applicable law, each party hereto shall be responsible for
paying its own attorneys’ fees and costs incurred in connection with any dispute between the
parties. To the extent inconsistent with the form of arbitration agreement that the Company’s
employees generally are required to enter into, including the Executive, this
arbitration provision shall control. Otherwise, to the extent compatible, effect shall be
given to both this arbitration provision and the Company’s form of arbitration agreement that the
Executive has executed or will be required to execute.

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          8. Miscellaneous.

          (a) Notices. Any notice or other communication under this Agreement shall be in
writing and shall be considered given when delivered personally or five (5) days after mailed by
registered mail, return receipt requested, to the Executive and the Company at their respective
addresses set forth above (or at such other address as a party may specify by notice to the other).

          (b) Entire Agreement; Amendments. This Agreement contains a complete statement of all
of the arrangements between the Executive and the Company with respect to the employment of the
Executive by the Company and the Executive’s compensation for such employment, and supersedes all
previous agreements, arrangements and understandings, written or oral, relating thereto other than
any existing equity award agreements previously executed by the parties hereto. This Agreement may
not be amended except by a written agreement signed by the Company and the Executive. Effective as
of the Start Date, this Agreement supersedes and replaces in its entirety the 2009 Agreement,
provided that any obligations of the Executive under the 2009 Agreement applicable to the time
period before the Start Date (such as the Executive’s obligation to keep certain information
confidential) shall survive and remain enforceable.

          The intent of the parties hereto is that payments and benefits under this Agreement comply
with or be exempt from Code Section 409A and, accordingly, to the maximum extent permitted, this
Agreement shall be interpreted to be in compliance therewith. Notwithstanding anything in this
Agreement to the contrary, in the event that amendments to this Agreement are necessary in order to
comply with Code Section 409A or to minimize or eliminate any income inclusion and penalties under
Code Section 409A (e.g., under any document or operational correction program), the Company and the
Executive agree to negotiate in good faith the applicable terms of such amendments and to implement
such negotiated amendments, on a prospective and/or retroactive basis, as needed. Further, 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 that are payable under a “nonqualified
deferred compensation plan” (as defined in Code Section 409A) that is not exempt from Code Section
409A unless such termination of employment 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,” “employment termination,” “termination of employment,” “termination date,”
“employment termination date,” or like term shall mean “separation from service” or the date of the
“separation from service,” as applicable.

          (c) Severability. In the event that any provision of this Agreement, or the
application of any provision to the Executive or the Company, is held to be unlawful or
unenforceable by any court or arbitrator, then the remaining portions of this Agreement shall
remain in full force and effect and shall not be invalidated or impaired in any manner.

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          (d) Waiver. No waiver by any party hereto of any breach of any term or covenant in
this Agreement, whether by conduct or otherwise, in any one or more instances, shall be deemed to
be or construed as a further or continuing waiver of any such breach, or a waiver of any other term
or covenant contained in this Agreement.

          (e) Governing Law. This Agreement shall be governed by and construed in accordance
with the law of the State of New Jersey without regard to its conflict of laws principles.

          IN WITNESS WHEREOF, the parties hereto have executed this document as of the ___ day of
November, 2010 to be effective as of the Start Date.

	 	 	 	 	 	 	 	 	 
	     ORBCOMM Inc.	 	 	 	 	 	 
	 
	     By:
	 	 	 	 	 	 	 	 
	     Name:

	 	 

	 	 
	 	 

Brian J. Bell
	 	 
	     Title:
	 	 	 	 	 	 	 	 

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EXHIBIT A — GENERAL RELEASE

     FOR AND IN CONSIDERATION OF the severance benefits set forth in the employment agreement to
which this General Release is attached, I, Brian J. Bell, agree, on behalf of myself, my heirs,
executors, administrators, and assigns, except as otherwise provided in this General Release, to
release and discharge ORBCOMM Inc. (the “Company”), and its current and former officers, directors,
employees, agents, owners, subsidiaries, divisions, affiliates, parents, successors, and assigns
(the “Released Parties”) from any and all manner of actions and causes of action, suits, debts,
dues, accounts, bonds, covenants, contracts, agreements, judgments, charges, claims, and demands
whatsoever (“Losses”) which I, my heirs, executors, administrators, and assigns have, or may
hereafter have, against the Released Parties or any of them arising out of or by reason of any
cause, matter, or thing whatsoever from the beginning of the world to the date hereof, including
without limitation, my employment agreement, my employment by the Company and the cessation
thereof, and all matters arising under any federal, state, or local statute, rule, or regulation,
or principle of contract law or common law, including but not limited to, the Worker Adjustment and
Retraining Notification Act of 1988, as amended, 29 U.S.C. §§ 2101 et
seq., the National Labor Relations Act of 1935, as amended, 29 U.S.C. §§
151 et seq., the Family and Medical Leave Act of 1993, as amended,
29 U.S.C. §§ 2601 et seq., Title VII of the Civil Rights Act of 1964, as
amended, 42 U.S.C. §§ 2000e et seq., the Age Discrimination in Employment
Act of 1967, as amended, 29 U.S.C. §§ 621 et seq. (the “ADEA”), the
Americans with Disabilities Act of 1990, as amended, 42 U.S.C. §§ 12101 et
seq., the Genetic Information Nondiscrimination Act of 2008, as amended, 42
U.S.C. §§ 2000ff et seq., the Employee Retirement Income Security Act of 1974,
as amended, 29 U.S.C. §§ 1001 et seq., the Virginia Human Rights
Act, as amended, Va. Code Ann. §§ 2.1-714 et seq., the Virginia
Persons with Disabilities Act, as amended, Va. Code Ann. §§ 51.5-1 et
seq., the New Jersey Law Against Discrimination, as amended, N.J. Stat.
Ann. §§ 10:5-1 et seq., the New Jersey Conscientious Employee Protection Act,
as amended, N.J. Stat. Ann. §§ 34:19-8 et seq., any federal, state,
or local “whistleblower” law, and any other equivalent federal, state, or local statute; provided
that I do not release or discharge the Released Parties (1) from any Losses arising under the ADEA
which arise after the date on which I execute this General Release or (2) from any rights that I
may have to be indemnified by the Company for any acts or omissions by me made in the course of my
role as an officer and employee of the Company. It is understood that nothing in this General
Release is to be construed as an admission on behalf of the Released Parties of any wrongdoing with
respect to me, any such wrongdoing being expressly denied.

     I represent and warrant that I fully understand the terms of this General Release, that I have
had the benefit of advice of counsel or have knowingly waived such advice, and that I knowingly and
voluntarily, of my own free will, without any duress, being fully informed, and after due
deliberation, accepts its terms and sign the same as my own free act. I understand that as a
result of executing this General Release, I will not have the right to assert that the Company
violated any of my rights in connection with my employment agreement, my employment, or with the
termination of such employment.

- 12 -

 

     I affirm that I have not filed, and agree, to the maximum extent permitted by law, not to
initiate or cause to be initiated on my behalf, any complaint, charge, claim, or proceeding against
the Released Parties before any federal, state, or local agency, court, or other body relating to
my employment agreement, my employment, or the cessation thereof, and agree not to voluntarily
participate in such a proceeding. Notwithstanding the prior sentence, to the extent that
applicable law does not permit me to waive my right to file such a complaint, charge, or claim, I
hereby waive my right to, and agree, to the maximum extent permitted by law, not to, seek, receive,
collect, or benefit from any monetary or other compensatory settlement, award, judgment, or other
resolution (including a resolution that would otherwise provide for my reinstatement to employment)
of any complaint, charge, or claim that any agency or other body pursues against any of the
Released Parties, whether pursued solely on my behalf or on behalf of a greater class of
individuals. However, nothing in this General Release shall preclude or prevent me from filing a
claim with the Equal Employment Opportunity Commission that challenges the validity of this General
Release solely with respect to my waiver of any Losses arising under the ADEA.

     I acknowledge that I have twenty-one (21) days in which to consider whether to execute this
General Release. I understand that I may waive such 21-day consideration period. I understand
that upon my execution of this General Release, I will have seven (7) days after such execution in
which I may revoke my execution of this General Release. In the event of revocation, I must
present written notice of such revocation to __________________ at the Company by delivering such
written notice to him at ______________________.

     If seven (7) days pass without receipt of such written notice of revocation, this General
Release shall become binding and effective on the eighth day (the “Release Effective Date”).

     This General Release shall be governed by the laws of the State of New Jersey without giving
effect to its conflict of laws principles.

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	Brian J. Bell	 	 	 	 	 	 	 	Date	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	STATE OF

	 	 	 	 	)	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	:	 	 	ss.:	 	 	 	 
	COUNTY OF

	 	 	 	 	)	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 

          On the ___ day of ___________________ in the year
201__, before me, the undersigned, personally appeared
Brian J. Bell, personally known to me or proved to me
on the basis of satisfactory evidence to be the
individual whose name is subscribed to the within
instrument, and acknowledged to me that he executed
the same in his capacity, and that by his signature on
the instrument he executed such instrument, and that
such individual made such appearance before the
undersigned.

					
	 	 	 
	 	
 	 
	 	Notary Public 	 
	 	 	 
	 

- 13 -exv10w1

Exhibit 10.1

EXECUTION VERSION

SUPPORT AGREEMENT

     This SUPPORT AGREEMENT, dated as of March 13, 2011 (this “Agreement”), is by and among
Kirby Corporation, a Nevada corporation (“Parent”), KSP Holding Sub, LLC, a Delaware
limited liability company and direct wholly owned subsidiary of Parent (“Holding Sub”), KSP
LP Sub, LLC, a Delaware limited liability company and direct wholly owned subsidiary of Parent
(“LP Sub”), KSP Merger Sub, LLC, a Delaware limited liability company wholly owned by
Holding Sub and LP Sub (“Merger Sub,” and together with Parent, Holding Sub and LP Sub, the
“Parent Parties”), and KA First Reserve, LLC a Delaware limited liability company (the
“Covenanting Unitholder”).

RECITALS:

     WHEREAS, concurrently with the execution of this Agreement, the Parent Parties and K-Sea
Transportation Partners L.P. (among others) are entering into an Agreement and Plan of Merger,
dated as of the date hereof (as amended, supplemented, restated or otherwise modified from time to
time, the “Merger Agreement”), pursuant to which, among other things, Merger Sub will merge
with and into the Company (the “Merger”), with the Company as the surviving entity, and
each Company Equity Interest (as defined in the Merger Agreement) will be converted into the right
to receive the merger consideration specified therein; and

     WHEREAS, as of the date hereof, the Covenanting Unitholder is the record owner in the
aggregate of, and has the right to vote and dispose of, the number of Preferred Units and/or
Common Units set forth opposite such Covenanting Unitholder’s name on Schedule I hereto;
and

     WHEREAS, as a material inducement to the Parent Parties to enter into the Merger Agreement,
the Parent Parties have required that the Covenanting Unitholder agree, and the Covenanting
Unitholder has agreed, to enter into this agreement and abide by the covenants and obligations with
respect to the Covered Units (as hereinafter defined) set forth herein.

     NOW THEREFORE, in consideration of the foregoing and the mutual representations, warranties,
covenants and agreements herein contained, and intending to be legally bound hereby, the parties
hereto agree as follows:

ARTICLE 1

GENERAL

     Section 1.1 Defined Terms. The following capitalized terms, as used in this
Agreement, shall have the meanings set forth below. Capitalized terms used but not otherwise
defined herein shall have the meanings ascribed thereto in the Merger Agreement.

     “Covered Units” means, with respect to the Covenanting Unitholder, the Covenanting
Unitholder’s Existing Units, together with any Units or other Company Equity Interests with the
right to consent to, vote upon or approve any matter with regard to the Company that the
Covenanting Unitholder acquires, either beneficially or of record, on or after the date hereof,
including any Company Equity Interests received as dividends (including pay-in-kind dividends) or
as a result of a split, reverse split, combination, merger, consolidation, reorganization,
reclassification, recapitalization or similar transaction.

     “Existing Units” means the Units or other Company Equity Interests owned, either
beneficially or of record, by the Covenanting Unitholder on the date of this Agreement.

 

 

     “Permitted Transfer” means a Transfer by the Covenanting Unitholder (or an Affiliate
thereof) to an Affiliate of such Covenanting Unitholder, provided that such transferee Affiliate
agrees in writing to assume all of such transferring Covenanting Unitholder’s obligations hereunder
in respect of the Covered Units subject to such Transfer and to be bound by, and comply with, the
terms of this Agreement, with respect to the Covered Units subject to such Transfer, to the same
extent as such Covenanting Unitholder is bound hereunder.

     “Transfer” means, directly or indirectly, to sell, transfer, assign or similarly
dispose of (by merger (including by conversion into securities or other consideration), by
tendering into any tender or exchange offer, by testamentary disposition, by operation of law or
otherwise), either voluntarily or involuntarily, or to enter into any contract, option or other
arrangement or understanding with respect to the voting of or sale, transfer, conversion,
assignment or similar disposition of (by merger, by tendering into any tender or exchange offer, by
testamentary disposition, by operation of law or otherwise).

ARTICLE 2

VOTING

     Section 2.1 Agreement to Vote Covered Units. The Covenanting Unitholder hereby
irrevocably and unconditionally agrees that during the term of this Agreement, at any meeting of
the Unitholders, however called, including any adjournment or postponement thereof, and in
connection with any written consent of the Unitholders (or any class or subdivision thereof), the
Covenanting Unitholder shall, in each case to the fullest extent that the Covered Units are
entitled to vote thereon or consent thereto:

     (a) appear at each such meeting or otherwise cause its Covered Units to be counted as
present thereat for purposes of calculating a quorum; and

     (b) vote (or cause to be voted), in person or by proxy, or deliver (or cause to be
delivered) a written consent covering, all of the Covered Units:

     (i) in favor of the approval or adoption of, or consent to, the Merger
Agreement, any transactions contemplated by the Merger Agreement and any other
action reasonably requested by Parent in furtherance thereof submitted for the vote
or written consent of Unitholders;

     (ii) against the approval or adoption of (A) any Acquisition Proposal or any
other action, agreement, transaction or proposal made in opposition to the approval
of the Merger Agreement or inconsistent with the Merger and the other transactions
contemplated by the Merger Agreement, or (B) any action, agreement, transaction or
proposal that is intended, or would reasonably be expected, to result in a material
breach of any covenant, agreement, representation, warranty or any other obligation
of the Company Parties contained in the Merger Agreement or of the Covenanting
Unitholder contained in this Agreement; and

     (iii) against any action, agreement, transaction or proposal that is intended,
would reasonably be expected, or the result of which would reasonably be expected,
to materially impede, interfere with, delay, postpone, discourage, frustrate the
purposes of or adversely affect the Merger or the other transactions contemplated by
the Merger Agreement, including but not limited to the following actions (other than
the Merger and the other transactions contemplated by the Merger Agreement and
actions requested or

-2-

 

expressly permitted by Parent): (A) any extraordinary corporate transaction,
such as a merger, consolidation or other business combination involving a Company
Entity; (B) a sale, lease or transfer of a material amount of assets of a Company
Entity, or a reorganization, recapitalization, dissolution, liquidation or winding
up of a Company Entity; (C) (1) any change in a majority of persons who constitute
the Company Board as of the date hereof, except for changes requested or expressly
permitted by Parent, (2) any change in the present capitalization of the Company or
any amendment to a Company Entity Charter Document, or (3) any other material change
in a Company Entity’s organizational structure or business.

     Section 2.2 No Inconsistent Agreements. The Covenanting Unitholder hereby represents,
covenants and agrees that, except for this Agreement, the Covenanting Unitholder (a) has not
entered into, and shall not enter into at any time while this Agreement remains in effect, any
voting agreement or voting trust with respect to its Covered Units, (b) has not granted, and shall
not grant at any time while this Agreement remains in effect, a proxy, consent or power of attorney
with respect to its Covered Units (except pursuant to Section 2.3 hereof) and (c) has not
taken and shall not take any action that would make any representation or warranty of the
Covenanting Unitholder contained herein untrue or incorrect in any material respect or have the
effect of preventing or disabling the Covenanting Unitholder from performing in any material
respect any of its obligations under this Agreement.

     Section 2.3 Proxy. In order to secure the obligations set forth herein, the
Covenanting Unitholder hereby irrevocably appoints Parent, or any nominee thereof, with full power
of substitution and resubstitution, as its true and lawful proxy and attorney-in-fact, to vote or
execute written consents with respect to the Covered Units in accordance with Section 2.1
hereof and with respect to any proposed postponements or adjournments of any meeting of the
Unitholders at which any of the matters described in Section 2.1 are to be considered. The
Covenanting Unitholder hereby affirms that this proxy is coupled with an interest and shall be
irrevocable, except upon termination of this Agreement, and the Covenanting Unitholder will take
such further action or execute such other instruments as may be necessary to effectuate the intent
of this proxy and hereby revokes any proxy previously granted by the Covenanting Unitholder with
respect to the Covered Units. Parent may terminate this proxy with respect to the Covenanting
Unitholder at any time at its sole election by written notice provided to the Covenanting
Unitholder.

ARTICLE 3

REPRESENTATIONS AND WARRANTIES

     Section 3.1 Representations and Warranties of the Covenanting Unitholder. The
Covenanting Unitholder (except to the extent otherwise provided herein) hereby represents and
warrants to the Parent Parties as follows:

     (a) Organization; Authorization; Validity of Agreement; Necessary Action. The
Covenanting Unitholder has the requisite power and authority and/or capacity to execute and
deliver this Agreement and to carry out its obligations hereunder. The execution and
delivery by the Covenanting Unitholder of this Agreement and the performance by it of the
obligations hereunder have been duly and validly authorized by the Covenanting Unitholder
and no other actions or proceedings are required on the part of the Covenanting Unitholder
to authorize the execution and delivery of this Agreement or the performance by the
Covenanting Unitholder of the obligations hereunder. This Agreement has been duly executed
and delivered by the Covenanting Unitholder and, assuming the due authorization, execution
and delivery of this Agreement by the Parent Parties, constitutes a legal, valid and binding
agreement of the

-3-

 

Covenanting Unitholder, enforceable against it in accordance with its terms, subject to
bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of
general applicability relating to or affecting creditors’ rights and to general equitable
principles.

     (b) Ownership. The Covenanting Unitholder is the record and beneficial owner
of, and has good title to, the Existing Units, free and clear of any Liens, except as may be
provided for in this Agreement. All of the Covered Units owned by the Covenanting
Unitholder from the date hereof through and on the Closing Date will be beneficially or
legally owned by the Covenanting Unitholder, except in the case of a Permitted Transfer.
Except as provided for in this Agreement, the Covenanting Unitholder has and will have at
all times through the Closing Date sole voting power (including the right to control such
vote as contemplated herein), sole power of disposition, sole power to issue instructions
with respect to the matters set forth in Article 2 hereof, and sole power to agree
to all of the matters set forth in this Agreement, in each case with respect to all of the
Covenanting Unitholder’s Existing Units and with respect to all of the Covered Units owned
by the Covenanting Unitholder at any time through the Closing Date, except in the case of a
Permitted Transfer. Except for the Existing Units and the right to receive Units as
pay-in-kind dividends with respect to such Existing Units (collectively, the “PIK
Units”), the Covenanting Unitholder does not, directly or indirectly, legally or
beneficially own or have any option (other than its option to acquire securities of IDR
Holdings), warrant or other right to acquire any securities of a Company Entity that are or
may by their terms become entitled to vote or any securities that are convertible or
exchangeable into or exercisable for any securities of a Company Entity that are or may by
their terms become entitled to vote, nor is the Covenanting Unitholder subject to any
Contract or relationship, other than this Agreement, that obligates the Covenanting
Unitholder to vote, acquire or dispose of any securities of a Company Entity.

     (c) No Violation. Neither the execution and delivery of this Agreement by the
Covenanting Unitholder nor the performance by the Covenanting Unitholder of its obligations
under this Agreement will (i) result in a violation or breach of, or conflict with any
provisions of, or constitute a default (or an event which, with notice or lapse of time or
both, would constitute a default) under, or result in the termination or cancellation of, or
give rise to a right of purchase under, or result in the creation of any Lien (other than
under this Agreement) upon any of the properties, rights or assets (including but not
limited to the Existing Units) owned by the Covenanting Unitholder under, any of the terms,
conditions or provisions of any note, bond, mortgage, indenture, deed of trust, license,
contract, lease, agreement or other instrument or obligation of any kind to which the
Covenanting Unitholder is a party or by which the Covenanting Unitholder or any of its
respective properties, rights or assets may be bound, (ii) violate any Orders or Laws
applicable to the Covenanting Unitholder or any of its properties, rights or assets, or
(iii) result in a violation or breach of or conflict with its organizational and governing
documents, except in the case of clause (i) as would not reasonably be expected to prevent
or materially delay the ability of the Covenanting Unitholder to perform its obligations
hereunder.

     (d) Consents and Approvals. No consent, approval, Order or authorization of,
or registration, declaration or filing with, any Governmental Entity is necessary to be
obtained or made by the Covenanting Unitholder in connection with the Covenanting
Unitholder’s execution, delivery and performance of this Agreement, except for any reports
under Sections 13(d) and 16 of the Exchange Act as may be required in connection with this
Agreement and the transactions contemplated hereby.

     (e) Reliance by Parent. The Covenanting Unitholder understands and
acknowledges that the Parent Parties are entering into the Merger Agreement in reliance upon
the Covenanting

-4-

 

Unitholder’s execution and delivery of this Agreement and the representations,
warranties, covenants and obligations of the Covenanting Unitholder contained herein.

     (f) Adequate Information. The Covenanting Unitholder acknowledges that it is a
sophisticated party with respect to the Covered Units and has adequate information
concerning the business and financial condition of the Company to make an informed decision
regarding the transactions contemplated by this Agreement and has, independently and without
reliance upon any of the Parent Parties and based on such information as the Covenanting
Unitholder has deemed appropriate, made its own analysis and decision to enter into this
Agreement. The Covenanting Unitholder acknowledges that no Parent Party has made or is
making any representation or warranty, whether express or implied, of any kind or character
except as expressly set forth in this Agreement.

     Section 3.2 Representations and Warranties of Parent. Parent hereby represents and
warrants to the Covenanting Unitholder that the execution and delivery of this Agreement by Parent
and the consummation of the transactions contemplated hereby have been duly authorized by all
necessary action on the part of the board of directors of Parent. The Parent Parties acknowledge
that the Covenanting Unitholder has not made and is not making any representation or warranty of
any kind except as expressly set forth in this Agreement.

ARTICLE 4

OTHER COVENANTS

     Section 4.1 Prohibition on Transfers, Other Actions.

     (a) The Covenanting Unitholder hereby agrees, except for a Permitted Transfer, not to
(i) Transfer any of the Covered Units, beneficial ownership thereof or any other interest
therein, (ii) enter into any agreement, arrangement or understanding, or take any other
action, that violates or conflicts with, or would reasonably be expected to violate or
conflict with, or would reasonably be expected to result in or give rise to a violation of
or conflict with, the Covenanting Unitholder’s representations, warranties, covenants and
obligations under this Agreement, (iii) take any action that would restrict or otherwise
affect the Covenanting Unitholder’s legal power, authority and right to comply with and
perform its covenants and obligations under this Agreement, (iv) convert any of the Existing
Units or any PIK Units into Common Units, or (v) discuss, negotiate, make an offer or enter
into a Contract, commitment or other arrangement with respect to any matter related to this
Agreement, except, in the case of clause (v) as would not reasonably be expected to prevent
or materially delay the ability of the Covenanting Unitholder to perform its obligations
hereunder. Any Transfer in violation of this provision shall be null and void.

     (b) The Covenanting Unitholder agrees that if it attempts to Transfer (other than a
Permitted Transfer), vote or provide any other Person with the authority to vote any of the
Covered Units other than in compliance with this Agreement, the Covenanting Unitholder
shall unconditionally and irrevocably (during the term of this Agreement) instruct the
Company to not, (i) permit any such Transfer on its books and records, (ii) issue a
Book-Entry Interest or a new certificate representing any of the Covered Units, or (iii)
record such vote unless and until the Covenanting Unitholder has complied in all respects
with the terms of this Agreement.

     (c) The Covenanting Unitholder agrees that it shall not, and shall cause each of its
controlled Affiliates to not, become a member of a “group” (as that term is used in Section
13(d)

-5-

 

of the Exchange Act) that the Covenanting Unitholder or such Affiliate is not currently
a part of and that has not been disclosed in a filing with the SEC prior to the date hereof
(other than as a result of entering into this Agreement) for the purpose of opposing or
competing with the transactions contemplated by the Merger Agreement.

     (d) The Covenanting Unitholder agrees not to knowingly take any action that would make
any representation or warranty of the Covenanting Unitholder contained herein untrue or
incorrect in any material respect or would reasonably be expected to have the effect of
preventing, impeding or interfering with or adversely affecting in any material respect the
performance by the Covenanting Unitholder of its obligations under or contemplated by this
Agreement.

     (e) The Covenanting Unitholder shall and does hereby authorize the Company or its
counsel to notify the Company’s transfer agent that there is a stop transfer order with
respect to the Existing Units (and that this Agreement places limits on the voting and
transfer of such Existing Units).

     Section 4.2 Adjustments.

     (a) In the event (i) of any dividend, split, recapitalization, reclassification,
combination or exchange of Company Equity Interests or other Company securities on, of or
affecting the Covered Units or the like or any other action that would have the effect of
changing the Covenanting Unitholder’s ownership of any Covered Units or other Company Equity
Interests or other Company securities or (ii) the Covenanting Unitholder becomes the
beneficial or record owner of any additional Company Equity Interests or other Company
securities during the period commencing with the execution and delivery of this Agreement
through the termination of this Agreement pursuant to Section 6.1, then the terms of
this Agreement will apply to such Company Equity Interests or other Company securities held
by the Covenanting Unitholder immediately following the effectiveness of the events
described in clause (i) or the Covenanting Unitholder becoming the beneficial owner thereof,
as described in clause (ii), as though they were Existing Units hereunder.

     (b) The Covenanting Unitholder hereby agrees, while this Agreement is in effect, to
promptly notify Parent in writing of the number of any new Company Equity Interests or other
securities of the Company acquired by the Covenanting Unitholder after the date hereof.

     Section 4.3 Further Assurances. From time to time, at Parent’s request and without
further consideration, the Covenanting Unitholder shall execute and deliver such additional
documents and take all such further action as may be reasonably necessary to effect the actions
contemplated from the Covenanting Unitholder by this Agreement.

ARTICLE 5

NO SOLICITATION

     Section 5.1 No Solicitation. Prior to the termination of this Agreement, the
Covenanting Unitholder, in its capacity as a Unitholder of the Company, shall not, and shall cause
its Representatives not to, directly or indirectly (a) solicit or initiate, or knowingly encourage,
any Acquisition Proposal or any inquiries regarding the submission of any Acquisition Proposal, (b)
participate in any discussions or negotiations regarding, or furnish any Third Party any
confidential information with respect to or in connection with, or knowingly facilitate or
otherwise cooperate with, any Acquisition Proposal or any

-6-

 

inquiry that may reasonably be expected to lead to an Acquisition Proposal, or (c) enter into
any agreement with respect to any Acquisition Proposal or approve or resolve to approve any
Acquisition Proposal. The Covenanting Unitholder shall, and shall cause its Representatives to,
immediately cease and cause to be terminated all existing discussions or negotiations with any
Third Party conducted prior to the date of this Agreement with respect to any Acquisition Proposal.

     Section 5.2 Notification. From and after the date hereof until the later of the
Effective Time and the termination of this Agreement, the Covenanting Unitholder shall promptly
advise Parent orally (and in any event within 24 hours) and as promptly as practicable in writing
of (a) any Acquisition Proposal, (b) the receipt of any request for non-public information related
to a Company Entity, and (c) the receipt of any request for information or any inquiries or
proposals (whether or not written) relating to an Acquisition Proposal or indication or inquiry
(including, if applicable, copies of any written requests, proposals or offers, including proposed
agreements), in each case received by it in its capacity as Unitholder. The Covenanting Unitholder
shall keep Parent informed on a current basis of the status and terms of any such Acquisition
Proposal or indication or inquiry (including, if applicable, any revised copies of written
requests, proposals and offers) and the status of any such discussions or negotiations.

ARTICLE 6

MISCELLANEOUS

     Section 6.1 Termination. This Agreement shall remain in effect until the earliest to
occur of (a) the Effective Time, (b) the valid termination of the Merger Agreement in accordance
with its terms (including after any extension thereof), (c) the date of any modification, amendment
or waiver of the Merger Agreement as in effect on the date hereof that adversely affects the
Covenanting Unitholder, (d) a Change in Recommendation, and (e) the written agreement of the
Covenanting Unitholder and Parent to terminate this Agreement. After the occurrence of such
applicable event, this Agreement shall terminate and be of no further force or effect. Nothing in
this Section 6.1 and no termination of this Agreement shall relieve or otherwise limit any
party of liability for any breach of this Agreement occurring prior to such termination.

     Section 6.2 No Ownership Interest. Nothing contained in this Agreement shall be
deemed to vest in Parent any direct or indirect ownership or incidence of ownership of or with
respect to any Covered Units. All rights, ownership and economic benefit relating to the Covered
Units shall remain vested in and belong to the Covenanting Unitholder, and Parent shall have no
authority to direct the Covenanting Unitholder in the voting or disposition of any of the Covered
Units, except as otherwise provided herein.

     Section 6.3 Publicity. The Covenanting Unitholder hereby permits Parent and the
Company to include and disclose in the Proxy Statement/Prospectus, and in such other schedules,
certificates, applications, agreements or documents as such entities reasonably determine to be
necessary or appropriate in connection with the consummation of the Merger and the transactions
contemplated by the Merger Agreement the Covenanting Unitholder’s identity and ownership of the
Covered Units and the nature of the Covenanting Unitholder’s commitments, arrangements and
understandings pursuant to this Agreement; provided that the Covenanting Unitholder shall have a
reasonable opportunity to review and approve any such disclosure in advance, such approval not to
be unreasonably withheld. Parent and the Company hereby permit the Covenanting Unitholder to
disclose this Agreement and the transactions contemplated by the Merger Agreement in any reports
required under Sections 13(d) and 16 of the Exchange Act.

-7-

 

     Section 6.4 Unitholder Capacity. Notwithstanding anything contained in this Agreement
to the contrary, the representations, warranties, covenants and agreements made herein by the
Covenanting Unitholder are made solely with respect to such Covenanting Unitholder and the Covered
Units. The Covenanting Unitholder is entering into this Agreement solely in its capacity as the
owner of such Covered Units and nothing herein shall (a) limit or affect any actions or omissions
by the Covenanting Unitholder in any other capacity, (b) be construed to prohibit, limit or
restrict any actions or omissions by any Affiliate or direct or indirect owner of the Covenanting
Unitholder, or any of their respective officers, directors, managers, or employees, in each case
not acting as such on behalf of the Covenanting Unitholder, including exercising rights under the
Merger Agreement or (c) be construed to prohibit, limit or restrict the Covenanting Unitholder or
any of its direct or indirect owners or Affiliates, or any of their respective officers, directors,
managers, or employees, from exercising its fiduciary duties to the limited partners of the Company
under applicable Law. Without limiting the generality of the foregoing, Parent acknowledges that
certain members of the Company Board are also affiliated with the Covenanting Unitholder and its
Affiliates, and that such persons in his or her capacity as a member of the Company Board may, in
the exercise of his or her fiduciary duties to the limited partners of the Company under applicable
Law, take actions that would violate this Agreement if such actions were taken by the Covenanting
Unitholder.

     Section 6.5 Survival. All of the Covenanting Unitholder’s representations and
warranties contained herein will survive for twelve months after the termination of this Agreement.
The covenants and agreements made herein will survive in accordance with their respective terms.

     Section 6.6 Notices. All notices and other communications hereunder shall be in
writing and shall be deemed given when delivered personally or by telecopy (upon telephonic
confirmation of receipt) or on the first Business Day following the date of dispatch if delivered
by a recognized next day courier service. All notices hereunder shall be delivered as set forth
below or pursuant to such other instructions as may be designated in writing by the party to
receive such notice:

	 	 	If to Parent or Merger Sub, to:

	 
	 	 	Kirby Corporation

55 Waugh Drive, Suite 1000

Houston, Texas 77007

Attention: Amy D. Husted, Esq.

Telecopier No.: (713) 435-1408

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

	 
	 	 	Fulbright & Jaworski, L.L.P.

2200 Ross Avenue, Suite 2800

Dallas, Texas 75201

Attention: Thomas G. Adler, Esq. and Bryn A. Sappington, Esq.

Telecopier No.: (214) 855-8200
	 
	 	 	If to the Covenanting Unitholder, to:

	 
	 	 	First Reserve Corporation

One Lafayette Place

Greenwich, Connecticut 06830

Attention: Alan G. Schwartz

Telecopier No.: (203) 661-6729

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

	 
	 	 	First Reserve Corporation

600 Travis Street, Suite 6000

Houston, Texas 77002

Attention: Gary Reaves

Telecopier No.: (713) 437-5147

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

	 
	 	 	Kayne Anderson Capital Advisors, L.P.

717 Texas Avenue, Suite 3100

Houston, Texas 77002

Attention: James C. Baker

Telecopier No.: (713) 655-7359

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

	 
	 	 	Simpson Thacher & Bartlett LLP

425 Lexington Avenue

New York, New York 10017

Attention: Patrick J. Naughton, Esq.

Telecopier No.: (212) 455-2502

     Section 6.7 Interpretation. The words “hereof,” “herein” and “hereunder” and words of
similar import when used in this Agreement shall refer to this Agreement as a whole and not to any
particular provision of this Agreement, and Section references are to this Agreement unless
otherwise specified. Whenever the words “include,” “includes” or “including” are used in this
Agreement, they shall be deemed to be followed by the words “without limitation.” The meanings
given to terms defined herein shall be equally applicable to both the singular and plural forms of
such terms. The headings contained in this Agreement are for reference purposes only and shall not
affect in any way the meaning or interpretation of this Agreement. This Agreement is the product
of negotiation by the parties having the assistance of counsel and other advisers. It is the
intention of the parties that this Agreement not be construed more strictly with regard to one
party than with regard to the others.

     Section 6.8 Counterparts. This Agreement may be executed by facsimile and in
counterparts, all of which shall be considered one and the same agreement and shall become
effective when counterparts have been signed by each of the parties and delivered to the other
parties, it being understood that all parties need not sign the same counterpart.

     Section 6.9 Entire Agreement. This Agreement and, solely to the extent of the defined
terms referenced herein, the Merger Agreement, together with the schedule annexed hereto, embody
the complete agreement and understanding among the parties hereto with respect to the subject
matter hereof and supersede and preempt any prior understandings, agreements or representations by
or among the parties, written and oral, that may have related to the subject matter hereof in any
way.

     Section 6.10 Governing Law; Consent to Jurisdiction; Waiver of Jury Trial.

     (a) THIS AGREEMENT AND THE AGREEMENTS, INSTRUMENTS AND DOCUMENTS CONTEMPLATED HEREBY
AND ALL DISPUTES BETWEEN THE PARTIES UNDER OR RELATING TO THIS AGREEMENT OR THE FACTS AND

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CIRCUMSTANCES LEADING TO ITS EXECUTION, WHETHER IN CONTRACT, TORT OR OTHERWISE, SHALL
BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE (WITHOUT
REFERENCE TO SUCH STATE’S PRINCIPLES OF CONFLICTS OF LAW). THE DELAWARE COURT OF CHANCERY
(AND IF THE DELAWARE COURT OF CHANCERY SHALL BE UNAVAILABLE, ANY DELAWARE STATE COURT AND
THE FEDERAL COURT OF THE UNITED STATES OF AMERICA SITTING IN THE STATE OF DELAWARE) WILL
HAVE EXCLUSIVE JURISDICTION OVER ANY AND ALL DISPUTES BETWEEN THE PARTIES HERETO, WHETHER IN
LAW OR EQUITY, BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT AND THE AGREEMENTS,
INSTRUMENTS AND DOCUMENTS CONTEMPLATED HEREBY OR THE FACTS AND CIRCUMSTANCES LEADING TO ITS
EXECUTION, WHETHER IN CONTRACT, TORT OR OTHERWISE. EACH OF THE PARTIES IRREVOCABLY CONSENTS
TO AND AGREES TO SUBMIT TO THE EXCLUSIVE JURISDICTION OF SUCH COURTS IN ANY SUCH DISPUTE,
IRREVOCABLY CONSENTS TO THE SERVICE OF THE SUMMONS AND COMPLAINT AND ANY OTHER PROCESS IN
ANY OTHER ACTION OR PROCEEDING RELATING TO THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT,
ON BEHALF OF ITSELF OR ITS PROPERTY, BY DELIVERY IN ANY METHOD CONTEMPLATED BY SECTION
6.6 HEREOF OR IN ANY OTHER MANNER AUTHORIZED BY LAW, AND HEREBY WAIVES, AND AGREES NOT
TO ASSERT IN ANY SUCH DISPUTE, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY CLAIM
THAT (i) SUCH PARTY IS NOT PERSONALLY SUBJECT TO THE JURISDICTION OF SUCH COURTS, (ii) SUCH
PARTY AND SUCH PARTY’S PROPERTY IS IMMUNE FROM ANY LEGAL PROCESS ISSUED BY SUCH COURTS OR
(iii) ANY LITIGATION COMMENCED IN SUCH COURTS IS BROUGHT IN AN INCONVENIENT FORUM.

     (b) THE PARTIES HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHT WHICH
ANY PARTY MAY HAVE TO TRIAL BY JURY IN RESPECT OF ANY PROCEEDING, LITIGATION OR COUNTERCLAIM
BASED ON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY COURSE OF
CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY.
IF THE SUBJECT MATTER OF ANY LAWSUIT IS ONE IN WHICH THE WAIVER OF JURY TRIAL IS PROHIBITED,
NO PARTY TO THIS AGREEMENT SHALL PRESENT AS A NON-COMPULSORY COUNTERCLAIM IN ANY SUCH
LAWSUIT ANY CLAIM BASED ON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT.
FURTHERMORE, NO PARTY TO THIS AGREEMENT SHALL SEEK TO CONSOLIDATE ANY SUCH ACTION IN WHICH A
JURY TRIAL CANNOT BE WAIVED.

     Section 6.11 Amendment; Waiver. This Agreement may not be amended except by an
instrument in writing signed by the parties hereto. Each party may waive any right of such party
hereunder by an instrument in writing signed by such party and delivered to Parent and the
Covenanting Unitholder. Notwithstanding the foregoing, no amendment or waiver shall be permitted or
effective without the prior written consent of the Company.

     Section 6.12 Remedies. The parties hereto agree that money damages would not be a
sufficient remedy for any breach of this Agreement and that irreparable damage would occur in the
event that any of the provisions of this Agreement were not performed in accordance with their
specific terms or were otherwise breached. It is hereby agreed that, prior to the valid
termination of this Agreement pursuant to Section 6.1, the parties hereto shall be entitled
to specific performance and injunctive or other equitable relief as a remedy for any such breach,
to prevent breaches of this Agreement, and to

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specifically enforce compliance with this Agreement. In connection with any request for
specific performance or equitable relief, each of the parties hereto hereby waives any requirement
for the security or posting of any bond in connection with such remedy. Such remedy shall not be
deemed to be the exclusive remedy for breach of this Agreement but shall be in addition to all
other remedies available at law or equity to such party. The parties further agree that, by
seeking the remedies provided for in this Section 6.12, no party hereto shall in any
respect waive their right to seek any other form of relief that may be available to them under this
Agreement, including monetary damages in the event that this Agreement has been terminated or in
the event that the remedies provided for in this Section 6.12 are not available or
otherwise are not granted.

     Section 6.13 Severability. Any term or provision of this Agreement, or the
application thereof, that is invalid or unenforceable in any situation in any jurisdiction shall
not affect the validity or enforceability of the remaining terms and provisions hereof or the
validity or enforceability of the offending term or provision in any other situation or in any
other jurisdiction. If the final judgment of a Court of competent jurisdiction declares that any
term or provision hereof is illegal, void, invalid or unenforceable, the parties hereto agree that
the Court making such determination shall have the power to limit the term or provision, to delete
specific words or phrases, or to replace any illegal, void, invalid or unenforceable term or
provision with a term or provision that is legal, valid and enforceable and that comes closest to
expressing the intention of the illegal, void, invalid or unenforceable term or provision, and this
Agreement shall be enforceable as so modified. In the event such Court does not exercise the power
granted to it in the prior sentence, the parties hereto shall replace such invalid or unenforceable
term or provision with a valid and enforceable term or provision that will achieve, to the extent
possible, the original economic, business and other purposes of such invalid or unenforceable term
as closely as possible in an acceptable manner in order that the transactions contemplated hereby
be consummated as originally contemplated to the fullest extent possible.

     Section 6.14 Expenses. Except as otherwise expressly provided herein or in the Merger
Agreement, all costs and expenses incurred in connection with this Agreement and the actions
contemplated hereby shall be paid by the party incurring such expenses, whether or not the Merger
is consummated.

     Section 6.15 Successors and Assigns; Third Party Beneficiaries.

     (a) Except in connection with a Permitted Transfer, neither this Agreement nor any of
the rights, interests or obligations hereunder shall be assigned by any of the parties
hereto (whether by operation of Law or otherwise) without the prior written consent of the
other parties; provided, however, that Parent and Merger Sub may transfer or
assign their rights and obligations under this Agreement, in whole or in part or from time
to time in part, to one or more of their Affiliates at any time, provided
further, that such transfer or assignment shall not relieve Parent or Merger Sub of
any of their obligations hereunder. Any assignment in violation of the foregoing shall be
null and void. Subject to the preceding two sentences, this Agreement will be binding upon,
inure to the benefit of and be enforceable by the parties and their respective successors
and assigns.

     (b) Other than the Company with respect to Section 6.11 hereof, this Agreement is not
intended to and shall not confer upon any Person (other than the parties hereto) any rights
or remedies hereunder.

[Signature pages follow.]

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     IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be executed as of
the date first written above by their respective officers thereunto duly authorized.

	 	 	 	 	 
	 	KA FIRST RESERVE, LLC

By: KA Fund Advisors, LLC, its manager

 	 
	 	By:  	/s/ James C. Baker 	 
	 	 	James C. Baker, Senior Managing Director 	 
	 	 	 	 
	 

[Signature page follows.]

[Signature Page 1 of 2 to Support Agreement]

 

 

	 	 	 	 	 
	 	KIRBY CORPORATION

 	 
	 	By:  	/s/ Joseph H. Pyne 	 
	 	 	Joseph H. Pyne, Chairman of the Board, 	 
	 	 	President and Chief Executive Officer 	 
	 
	 	KSP MERGER SUB, LLC

 	 
	 	By:  	/s/ Joseph H. Pyne 	 
	 	 	Joseph H. Pyne, President 	 
	 	 	 	 
	 
	 	KSP HOLDING SUB, LLC

 	 
	 	By:  	/s/ Joseph H. Pyne 	 
	 	 	Joseph H. Pyne, President 	 
	 	 	 	 
	 
	 	KSP LP SUB, LLC

 	 
	 	By:  	/s/ Joseph H. Pyne 	 
	 	 	Joseph H. Pyne, President 	 
	 	 	 	 
	 

[Signature Page 2 of 2 to Support Agreement]

 

 

Schedule I

	 	 	 

	KA First Reserve, LLC

	 	19,178,120 Series A Preferred Units

[Schedule I]

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