Document:

Form of Exchange Agreement

 Exhibit 10.16 
 EXCHANGE AGREEMENT 
 This Exchange Agreement (“Agreement”)
sets forth the terms and conditions upon which Flotek Industries, Inc., a Delaware corporation (“Company”), will issue the number of shares (the “Shares”) of Company’s Common Stock, par value $0.0001 per share
(“Common Stock”), indicated on the signature page hereof to the holder indicated on the signature page hereof (“Holder”), in exchange for the aggregate principal amount of the Company’s debt securities (the
“Exchanged Notes”) identified on the signature page hereof. 
 SECTION 1.
Exchange. Holder agrees to sell and transfer the Exchanged Notes to Company and Company agrees to purchase the Exchanged Notes from Holder, in consideration of and in exchange for the sale and transfer by Company to Holder of the
Shares. As promptly as reasonably practicable, but in no event later than five business days after the execution of this Agreement, Holder shall deliver the Exchanged Notes to Company by due and proper instruments of transfer reasonably acceptable
to Company and its legal counsel. Subject to and upon such delivery of the Exchanged Notes, as promptly as reasonably practicable, but in no event later than five business days after the execution of this Agreement, Company shall deliver to Holder
certificates or other appropriate documentation for the Shares, duly registered in the name of the Holder. 

SECTION 2. Representations And Warranties Of Holder. Holder represents and
warrants to the Company, as of the date hereof and as of the date of delivery of the Exchanged Notes that: 
 (a) The execution,
delivery and performance by Holder of this Agreement, and the consummation of the transactions contemplated hereby are within the powers of Holder and have been or will have been duly authorized by all necessary action on the part of Holder, and
that this Agreement constitutes a valid and binding agreement of Holder, enforceable in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other laws of general application
affecting enforcement or creditors’ rights generally or (ii) as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies. 

(b) The execution, delivery and performance by Holder of this Agreement and the consummation of the transactions contemplated hereby
require no order, license, consent, authorization or approval of, or exemption by, or action by or in respect of, or notice to, or filing or registration with, any governmental body, agency or official on the part of Holder. 

(c) The execution, delivery and performance by Holder and Company of this Agreement, and the consummation of the transactions
contemplated by this Agreement, do not and will not (i) violate the certificate of incorporation (or similar constituent document) or bylaws of Holder, (ii) violate any material agreement to which Holder is a party or by which Holder or
any of its property or assets is bound, or (iii) violate any law, rule, regulation, judgment, injunction, order or decree applicable to Holder. 

  
 1 

 (d) Holder is the beneficial owner of the Exchanged Notes, and upon the consummation of the
transactions contemplated hereby, Company will receive the Exchanged Notes, in each case, free and clear of all encumbrances, liens, equities or claims created by Holder. 
 (e) There is no investment banker, broker, finder or other intermediary which has been retained by, will be retained by or is authorized to act on behalf of Holder who might be entitled to any fee or
commission from Company or Holder upon consummation of the transactions contemplated by this Agreement. 
 (f) Holder did not
purchase the Exchanged Notes with a view to, or for sale in connection with, a distribution of the Shares issuable upon exchange of the Exchanged Notes in such a manner that Holder would be deemed an underwriter of the Shares under applicable law.

 SECTION 3. Representations And Warranties Of Company. Company represents and
warrants to the Holder, as of the date hereof and as of the date of delivery of the Shares, that: 
 (a) The execution, delivery
and performance by Company of this Agreement, and the consummation of the transactions contemplated hereby and thereby are within the powers of Company and have been or will have been duly authorized by all necessary action on the part of Company,
and that this Agreement constitutes a valid and binding agreement of Company, enforceable in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other laws of general
application affecting enforcement or creditors’ rights generally or (ii) as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies. 

(b) The execution, delivery and performance by Company of this Agreement and the consummation of the transactions contemplated hereby
require no order, license, consent, authorization or approval of, or exemption by, or action by or in respect of, or notice to, or filing or registration with, any governmental body, agency or official on the part of Company. 

(c) The execution, delivery and performance by Holder and Company of this Agreement, and the consummation of the transactions
contemplated by this Agreement, do not and will not (i) violate the certificate of incorporation or bylaws of Company, (ii) violate any material agreement to which Company is a party or by which Company or any of its property or assets is
bound, or (iii) violate any law, rule, regulation, judgment, injunction, order or decree applicable to Company. 

 (d) The Shares, when issued in exchange for the Exchanged Notes in accordance with this
Agreement, will be duly and validly authorized and issued, fully-paid and non-assessable, free and clear of all encumbrances, liens, equities or claims. 
 (e) There is no investment banker, broker, finder or other intermediary which has been retained by, will be retained by or is authorized to act on behalf of Company who might be entitled to any fee or
commission from Company or Holder upon consummation of the transactions contemplated by this Agreement. 
 (f) The exchange of
the Exchanged Notes for the Shares hereby is exempt from registration under Section 3(a)(9) of the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. 

SECTION 4. Survival; Indemnity. The representations and warranties of the parties hereto
contained in this Agreement shall survive the consummation of the transactions contemplated hereby. Holder and Company agree to indemnify and protect the other party, its employees, contractors, agents and attorneys and its successors and assigns
and hold them harmless from and against any and all losses, liabilities, costs and expenses (including reasonable attorneys’ fees) incurred as a result of the breach by Holder or Company, as applicable, of any of its representations, warranties
or covenants contained in this Agreement 
 SECTION 5. Notices. All notices,
requests and other communications to any party hereunder shall be in writing (including facsimile transmission) and shall be given, 
 if to Holder, as indicated on the signature page hereto, 
 if to Company to:

 Flotek Industries, Inc. 
 2930 Sam Houston Parkway N., Suite 300 
 Houston, Texas 77043 

Fax: (281) 715-4145 
 Attention: Chief Financial Officer 
 with a copy to: 

Andrews Kurth LLP 

600 Travis Street, Suite 4200 
 Houston, Texas 77002 
 Fax: 713-238-7111 

Attention: W. Mark Young 
 or to
such other address or telecopy number and with such other copies as such party may hereafter specify for the purpose of notice. All such notices, requests 

 
and other communications shall be deemed received on the date of receipt by the recipient thereof if received prior to 5 p.m. in the place of receipt and such day is a business day in the place
of receipt. Otherwise, any such notice, request or communication shall be deemed not to have been received until the next succeeding business day in the place of receipt. 
 SECTION 6. Amendments and Waivers. Any provision of this Agreement may be amended or waived if, but only if, such amendment or waiver is in writing and is signed,
in the case of an amendment, by each party to this Agreement, or in the case of a waiver, by the party against whom the waiver is to be effective. No failure or delay by any party in exercising any right, power or privilege hereunder shall operate
as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive
of any rights or remedies provided by law. 
 SECTION 7. Successors and Assigns. The
provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns; provided that no party may assign, delegate or otherwise transfer any of its rights or obligations
under this Agreement without the consent of each other party hereto. 
 SECTION 8. Governing
Law. This Agreement shall be governed by and construed in accordance with the law of the State of New York. 

SECTION 9. Jurisdiction; WAIVER OF JURY TRIAL. Each of the parties hereto
(a) consents to submit itself to the personal jurisdiction of any Federal or state court located in the Borough of Manhattan in The City of New York, New York in the event any dispute arises out of this Agreement, (b) agrees that it will
not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from any such court and (c) agrees that it will not bring any action relating to this Agreement in any court other than a Federal or state court
located in the Borough of Manhattan in The City of New York, New York. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY. 
 SECTION 10. Counterparts; Third Party Beneficiaries.
This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This Agreement shall become effective when each party
hereto shall have received a counterpart hereof signed by the other party hereto. No provision of this Agreement shall confer upon any person other than the parties hereto any rights or remedies hereunder. 

 

 SECTION 11. Entire Agreement. This Agreement
constitutes the entire agreement between the parties with respect to the subject matter of this Agreement and supersedes all prior agreements and understandings, both oral and written, between the parties with respect to the subject matter of this
Agreement. 
 SECTION 12. Captions. The captions herein are included for
convenience of reference only and shall be ignored in the construction or interpretation hereof. 
 [Signature Page Follows]

 If the foregoing is acceptable to you, please acknowledge your agreement by signing below in
the space provided for your signature and returning an original copy hereof. 
  

			
	DATE:
                                        

	
	Flotek Industries, Inc.
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	THE FOREGOING IS AGREED TO AND ACKNOWLEDGED BY:
	
	[Noteholder full name]
	
	  

	Name:
	Title:

Address for Notices to Holder pursuant to Section 5: 

			
	[street]
	[city, state]
	Fax:
                                    
	Attention: [name]

 Title of debt securities (“Exchanged Notes”): 
 5.25% Convertible Senior Notes due 2028, CUSIP No. 343389AAO 
 Original Principal amount of
Exchanged Notes: 

$                         
                          
 Number of shares of Common Stock to be issued in exchange:Amendment of Bonus Agreement

 Exhibit 10.1 
 CPG Finance, Inc. 
 3070 Southport Road 

Spartanburg, SC 29302 

August 10, 2011 
 Jack Knott 

73 Brinker Road 
 Barrington, IL 60010

  

	Re:	Amendment of Bonus Agreement 

 Dear Jack:

 As you know, on May 31, 2011, you were awarded a bonus payable by CPG Finance, Inc. (the “Company”) in an aggregate amount of
up to $4,500,000 (such bonus, the “Bonus” and such agreement, the “Bonus Agreement”). In consideration for your acceptance of employment with Sun Capital Advisors, Inc. (“Sun”), the Company hereby waives the requirement
in Section 2(c) of the Bonus Agreement that you be an employee of the Company immediately prior to a Change in Control (as such term is defined in the Bonus Agreement) in order to receive the payment contemplated by Section 2(c) of the
Bonus Agreement. This waiver shall be null and void and of no further force or effect in the event that you voluntarily terminate your employment with Sun prior to a Change in Control. 
 Further, it is hereby agreed that for purposes of the payments contemplated by Section 2(d) of the Bonus Agreement, a “Payment Event” shall be deemed to have occurred if either
(x) your employment with Sun is involuntarily terminated without Cause, death or Disability (as each such capitalized term is defined in the CPG Finance, Inc. 2005 Stock Option Plan) prior to a Change in Control or (y) a Change in Control
has not occurred by July 14, 2015, in each case following receipt by the Company of the aggregate exercise price of the entire Option (as such term is defined in the Bonus Agreement). 
 Except for the above items, the terms of your Bonus Agreement remain unchanged. Please acknowledge your receipt and acceptance of the terms of this amendment to the Bonus Agreement by signing below and
returning a copy to the undersigned. 
 Sincerely, 
  

									
	 CPG FINANCE, INC.
	 		 		 	 Acknowledged and accepted
 as
of this 10th day of August, 2011:

					
	By:	 	 /s/Eric M. Lynch
	 		 		 	 /s/ Jack Knott

	Name:	 	Eric M. Lynch	 		 		 	Jack Knott
	Title:	 	Chief Financial Officer

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