Document:

Exhibit

Exhibit 10.15

INDEMNIFICATION AGREEMENT 
This  Indemnification Agreement (this “Agreement”) dated the 15th day of November, 2016, by  and  between  Frank’s International N.V., a public limited liability company organized and existing under the laws of The Netherlands (the “Company”), and Douglas Stephens, an individual (“Indemnitee”). 
RECITALS 
A.Competent  and  experienced persons may be reluctant to serve or to continue to serve as  directors,  officers  or  in  other  capacities  unless  they are provided with adequate protection through insurance or indemnification (or both) against claims against them arising out of their service and activities on behalf of the corporation. 
B.    The current uncertainties relating to the availability of adequate insurance have increased the difficulty of attracting and retaining competent and experienced persons to serve in such capacity. 
C.    The  supervisory  board  of  the  Company  (the “Supervisory  Board”) has determined  that  the  continuation  of  present trends in litigation will make it more difficult to attract  and  retain  competent  and  experienced  persons  to  serve as directors of the Company, that this situation is detrimental to the best interests of the Company’s stockholders and that the Company should act to assure such persons that there will be increased certainty of adequate protection in the future. 
D.    As  a  supplement  to  and  in  the  furtherance  of the Company’s Articles of Association,  as  amended (the “Articles”), it is reasonable, prudent, desirable and necessary for the  Company  contractually to obligate itself to indemnify, and to pay in advance expenses on behalf  of,  directors  and  officers  to the fullest extent permitted by Applicable Law, consistent with the Company’s Liability Insurance, so that they will serve or continue to serve the Company free from concern that they will not be so indemnified and that their expenses will not be so paid in advance; 
E.    This  Agreement  is not a substitute for, nor is it intended to diminish or abrogate any  rights  of  Indemnitee  under,  Liability  Insurance,  the  Articles, any resolutions adopted pursuant thereto (including any contractual rights of Indemnitee that may exist) or otherwise; 
F.    Indemnitee is a director or officer of the Company and his or her willingness to continue  to  serve  in  such  capacity  is predicated, in substantial part, upon the Company’s willingness to indemnify him or her to the fullest extent permitted by Applicable Law, consistent with  the  Company’s  Liability Insurance, and upon the other undertakings set forth in this Agreement. 
AGREEMENT 
NOW, THEREFORE, in consideration of the premises and covenants contained herein, the Company and Indemnitee hereby agree as follows: 

ARTICLE 1
CERTAIN DEFINITIONS 
Capitalized terms used but not otherwise defined in this Agreement have the meanings set forth below: 
“Applicable Law” means the laws of The Netherlands. 
“Claims”  means  any and all liabilities, claims, judgments, fines (including excise taxes and  penalties  assessed with respect to employee benefit plans), penalties and all interest, assessments and other charges paid or payable in connection with or in respect of any of the foregoing. 
“Corporate Status”  means the  status  of  a person who is or was a director, officer, employee, partner, member, manager, trustee, fiduciary or agent of the Company or of any other Enterprise which such person is or was serving at the request of the Company. In addition to any service at the actual request of the Company, Indemnitee will be deemed, for purposes of this Agreement, to be serving or to have served at the request of the Company as a director, officer, employee,  partner,  member,  manager,  trustee,  fiduciary or agent of another Enterprise if Indemnitee  is  or  was  serving  as  a  director,  officer, employee, partner, member, manager, fiduciary,  trustee or  agent  of  such Enterprise and (i) such Enterprise is or at the time of such service was a Controlled Affiliate, (ii) such Enterprise is or at the time of such service was an employee benefit plan (or related trust) sponsored or maintained by the Company or a Controlled Affiliate  or  (iii) the  Company or  a  Controlled Affiliate caused Indemnitee to be nominated, elected,  appointed, designated, employed, engaged or selected to serve in such capacity on its behalf. 
“Controlled  Affiliate”  means  any corporation, limited liability company, partnership, joint venture, trust or other Enterprise, whether or not for profit, that is directly or indirectly controlled  by  the  Company.  For purposes of this definition, the term “control” means the possession,  directly  or  indirectly,  of  the  power  to  direct,  or  cause the direction of, the management or policies of an Enterprise, whether through the ownership of voting securities, through other voting rights, by contract or otherwise; provided, however, that direct or indirect beneficial ownership of capital stock or other interests in an Enterprise entitling the holder to cast 10% or more of the total number of votes generally entitled to be cast in the election of directors (or persons performing comparable functions) of such Enterprise will be deemed to constitute “control” for purposes of this definition. 
“Disinterested  Director”  means  a  director of the Company who is not and was not a party  to the Legal Action, decision or Enterprise action in respect of which indemnification is sought by Indemnitee. 
“Enterprise”  means  the  Company  and  any  other  corporation, partnership, limited liability company, joint venture, employee benefit plan, trust or other entity or other enterprise of which Indemnitee is or was serving at the request of the Company in a Corporate Status. 

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“Expenses” means all reasonable expenses, including attorney’s fees and litigation costs, paid  o r incurred  in  connection  with  a  Legal  Action,  or  in  connection  with  seeking indemnification under this Agreement. Expenses will also include Expenses reasonably paid or incurred in connection with any appeal resulting from any Legal Action. Notwithstanding the foregoing,  the  Company’s obligation to pay “Expenses” is limited to Expenses incurred after written notice is given to the Company of a Legal Action. When a Legal Action subject to the indemnity obligation in this Agreement presents both matters that are covered by the indemnity obligation  and  matters  that  are not, Expenses shall refer solely to Expenses incurred for the defense of those parts of the Legal Action that are covered by the indemnity obligation in this Agreement 
“Independent  Counsel” means an attorney or firm of attorneys that is experienced in matters of corporation law in the appropriate jurisdictions and neither currently is, nor in the past five (5)  years  has  been,  retained  to represent: (i) the Company or Indemnitee in any matter material to either such party (other than with respect to matters concerning the Indemnitee under this  Agreement  and/or  the indemnification provisions of the Articles, or of other indemnitees under similar indemnification agreements), or (ii) any other party to the Legal Action giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel”  does  not  include  any  person  who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. 
“Legal  Action” means any expected, threatened, pending or completed action, investigation, or other proceeding, whether civil, criminal or administrative, and in each case commenced  after  the date of this Agreement, in which Indemnitee was, is or will be involved as a  party  or otherwise, by reason of or relating to Indemnitee’s Corporate Status and by reason of or  relating  to  either (i) any action or alleged action taken by Indemnitee (or failure or alleged failure  to  act)  or  of  any  action  or  alleged  action (or failure or alleged failure to act) on Indemnitee’s part, while acting in his or her Corporate Status or (ii) the fact that Indemnitee is or was  serving  at  the  request of the Company as director, officer, employee, partner, member, manager, trustee, fiduciary or agent of another Enterprise, in each case whether or not serving in such capacity at the time any Loss or Expense is paid or incurred for which indemnification or advancement  of  Expenses  can  be provided under this Agreement, except one initiated by Indemnitee to enforce his or her rights under this Agreement. 
“Liability  Insurance”  means such director and officer liability insurance (or the equivalent), which the Company purchases for the benefit of its directors and officers. 
“Management Board” means the management board of the Company. 
“Person” shall  be  construed broadly and shall include, without limitation, an individual, a partnership, stichting, commanditaire vennootschap, besloten vennootschap, a limited liability company, a corporation, an association, a joint stock company, a trust, a joint venture, an unincorporated organization and a governmental entity or any department, agency or political subdivision thereof. 

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References to “serving at the request of the Company” include any service as a director, officer,  employee  or  agent  of the Company which imposes duties on, or involves services by, such  director,  officer,  employee  or  agent  with  respect  to  any employee benefit plan, its participants or beneficiaries; and a person who acted in good faith and in a manner he or she reasonably  believed  to  be  in  the  best  interests  of  the participants and beneficiaries of an employee  benefit  plan  will be  deemed  to  have  acted in a manner “not opposed to the best interests of the Company” as referred to under applicable law or in this Agreement. 
ARTICLE 2 
SERVICES TO THE COMPANY 
2.1    Services to the Company.  Indemnitee agrees to serve as an officer or as a director on  the  Company’s  Supervisory  Board. Indemnitee may at any time and for any reason resign from such position (subject to any other contractual obligation or any obligation imposed by operation of law), in which event the Company will have no obligation under this Agreement to continue  Indemnitee  in  such  position.  This  Agreement  will  not  be  construed as giving Indemnitee  any  right  to be retained as an officer, as a director on the Company’s Supervisory Board or in any other position with the Company (or any other Enterprise). 
ARTICLE 3 
INDEMNIFICATION 
3.1    Company Indemnification.  Except as otherwise provided in this Article 3, if Indemnitee was, is or becomes a party to, or was or is threatened to be made a party to, or was or is otherwise involved in, any Legal Action, the Company will indemnify and hold harmless Indemnitee to the fullest extent permitted by the Articles and Applicable Law, as the same exists or may hereafter be amended, interpreted or replaced, against any and all Expenses, Claims or amounts  paid  in  settlement, and any federal, state, local or foreign taxes imposed as a result of the actual or deemed receipt of any payments under this Agreement, that are paid or incurred by Indemnitee in connection with such Legal Action.
3.2    Mandatory Indemnification if Indemnitee is Wholly or Partly Successful.  Notwithstanding  any  other  provision  of this Agreement (other than Section 6.9), to the extent that  Indemnitee  has been successful, on the merits or otherwise, in defense of any Legal Action or any part thereof, the Company will indemnify Indemnitee against all Expenses that are paid or incurred by Indemnitee in connection therewith. If Indemnitee is not wholly successful in such Legal Action, but is successful, on the merits or otherwise, as to one or more but fewer than all Claims, issues or matters in such Legal Action, the Company will indemnify and hold harmless Indemnitee  against  all Expenses paid or incurred by Indemnitee in connection with each successfully  resolved  Claim,  issue  or  matter on which Indemnitee was successful. For purposes of  this  Section 3.2,  the  termination  of any Legal Action, or any Claim, issue or matter in such Legal  Action, by  dismissal with or without prejudice will be deemed to be a successful result as to such Legal Action, Claim, issue or matter. 
3.3    Indemnification for Expenses of a Witness.  Notwithstanding  any other provision of  this Agreement, to the extent that Indemnitee is, by reason of his or her Corporate Status, a witness in any Legal Action to which Indemnitee is not a party, the Company will advance all 

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reasonable  expenses  and  indemnify  Indemnitee  against all Expenses paid or incurred by Indemnitee on his or her behalf in connection therewith. 
3.4    Exclusions.  Notwithstanding  any  other  provision  of   this  Agreement,  the  Company will  not  be  obligated  under  this  Agreement  to  provide  indemnification  in  connection  with the following: 
(a)    Any Legal Action (or part of any Legal Action) initiated or brought voluntarily  by Indemnitee  against the Company or its directors, officers, employees or other  indemnities,  unless the Management Board has authorized or consented to the initiation of the Legal Action (or such part of any Legal Action) with approval of the Supervisory Board. 
(b)    An accounting of profits made from the purchase and sale (or sale and purchase)  by  Indemnitee  of  securities  of  the Company within the meaning of Section 16(b)  of  the  Securities  Exchange  Act of 1934, as amended, or any similar successor statute or for any Claims to the extent that they represent the gain in fact of any profit or advantage to which the Indemnitee is not legally entitled. 
(c)    If a court of competent jurisdiction has made a final and binding judgment that the act or omission of the Indemnitee can be characterized as a result of willful misconduct (opzet), willful recklessness (bewuste roekeloosheid) or serious culpability (ernstig verwijt) under Applicable Law.
(d)    For any Legal Action arising out of, based upon or attributable to the committing in fact by the Indemnitee of any deliberate criminal or deliberate fraudulent act. 
ARTICLE 4
ADVANCEMENT OF EXPENSES 
4.1    Expense Advances.  Except  as  set  forth  in Section 4.2, the Company will, if requested  by  Indemnitee,  advance,  to  the  fullest  extent permitted by Applicable Law, to Indemnitee (hereinafter an “Expense Advance”) any and all Expenses paid or incurred by Indemnitee in connection with any Legal Action (whether prior to or after its final disposition). Indemnitee’s  right  to  each  Expense Advance will be subject to the requirements of the next sentence  but  not  otherwise  subject  to the satisfaction of any standard of conduct and will be made without regard to Indemnitee’s ultimate entitlement to indemnification under the other provisions of this Agreement, or under provisions of the Articles or otherwise. Each Expense Advance will be unsecured and interest free and will be made by the Company upon a resolution of the Supervisory Board; provided, however, that an Expense Advance will be made only upon delivery  to  the  Company  of  an  undertaking  (hereinafter  an “Undertaking”),  in a form satisfactory to the Company, by or on behalf of Indemnitee, to immediately repay such Expense Advance if it is ultimately determined, by final and binding judgment by a court or arbitrator, as applicable, from which there is no further right to appeal, that Indemnitee is not entitled to be indemnified for such Expenses under the Articles or Applicable Law. An Expense eligible for an 

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Expense Advance will include any and all reasonable Expenses incurred pursuing an action to enforce the right of advancement provided for in this Article 4. 
4.2    Exclusions.  Indemnitee  will  not  be  entitled  to  any  Expense  Advance  in connection with any of the matters for which indemnity is excluded pursuant to Section 3.4. 
4.3    Timing.  An Expense Advance pursuant to Section 4.1 will be made within fifteen business  days  after  the  resolution  of the Management Board is approved by the Supervisory Board with respect to such Expense Advance; provided, however, that no such Expense Advance will be made by the Company prior to receipt by the Company of the Undertaking. 
ARTICLE 5
CONTRIBUTION IN THE EVENT OF JOINT LIABILITY 
5.1    Contribution by Company.  To  the fullest extent permitted by Applicable Law, if the indemnification provided for in this Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, will contribute to the amount of Expenses and Claims incurred or paid by Indemnitee in connection with any Legal Action in proportion  to  the  relative  benefits received by the Company and all officers, directors and employees of the Company other than Indemnitee who are jointly liable with Indemnitee, on the one hand, and Indemnitee, on the other hand, from the transaction from which such Legal Action arose;  provided, however, that the proportion determined on the basis of relative benefit may, to the  extent  necessary  to  conform to law, be further adjusted by reference to the relative fault of the  Company  and  all officers, directors and employees of the Company other than Indemnitee who are jointly liable with Indemnitee, on the one hand, and Indemnitee, on the other hand, in connection  with  the  events  that resulted in such Expenses and Claims, as well as any other equitable considerations which applicable law may require to be considered. The relative fault of the  Company  and all  officers, directors and employees of the Company other than Indemnitee who are  jointly liable with Indemnitee, on the one hand, and Indemnitee, on the other hand, will be determined  by  reference  to,  among  other  things,  the  degree to which their actions were motivated  by  intent to gain personal profit or advantage, the degree to which their liability is primary or secondary, and the degree to which their conduct was active or passive. 
5.2    Indemnification  for  Contribution  Claims  by  Others.  To  the  fullest  extent permitted  by  Applicable  Law,  the indemnification herein will include claims of contribution which  may  be brought by other officers, directors or employees of the Company who may be jointly liable with Indemnitee for any Loss or Expense arising from a Legal Action. 
ARTICLE 6 
PROCEDURES AND PRESUMPTIONS FOR THE  
DETERMINATION OF ENTITLEMENT TO INDEMNIFICATION 
6.1    Notification of Claims; Request for Indemnification.  Indemnitee agrees to notify promptly  the  Company  in  writing  of  any  claim  made against Indemnitee for which indemnification will or could be sought under this Agreement; provided, however, that a delay in giving  such  notice  will  not  deprive  Indemnitee  of any right to be indemnified under this Agreement unless, and then only to the extent that, the Company did not otherwise learn of the 

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Legal  Action  and such delay is materially prejudicial to the Company’s ability to defend or to obtain coverage under the Company’s Liability Insurance for such Legal Action; and, provided, further,  that notice  will be  deemed to  have  been  given  without  any action on the part of Indemnitee in the event the Company is a party to the same Legal Action. The omission to notify the Company will not relieve the Company from any liability for indemnification which it may have  to  Indemnitee  otherwise  than  under  this  Agreement.  Indemnitee may deliver to the Company a written request to have the Company indemnify and hold harmless Indemnitee in accordance  with  this  Agreement.  Subject  to Section 6.9, such request may be delivered from time to time and at such time(s) as Indemnitee deems appropriate in his or her sole discretion. Following such  a  written  request  for  indemnification,  Indemnitee’s  entitlement  to  indemnification  shall  be  determined  according to Section 6.2. The Secretary of the Company will, promptly upon receipt of such a request for indemnification, advise the Management Board in  writing that Indemnitee has requested indemnification. The Company will be entitled to participate in any Legal Action at its own expense. 
6.2    Determination of Right to Indemnification.  Upon  written request by Indemnitee for  indemnification  pursuant  to  Section 6.1 hereof  with  respect to any Legal Action, a determination  with  respect  to  Indemnitee’s  entitlement thereto will be made by one of the following, at the election of the Company: (1) so long as there are Disinterested Directors with respect  to  such  Legal  Action, a majority vote of the Disinterested Directors, even though less than  a quorum of the Supervisory Board, (2) so long as there are Disinterested Directors with respect  to  such  Legal  Action,  a  committee of such Disinterested Directors designated by a majority vote of such Disinterested Directors, even though less than a quorum of the Supervisory Board  or  (3) Independent  Counsel  in a written opinion delivered to the Supervisory Board, a copy  of  which  will  also  be delivered to Indemnitee. The election by the Company to use a particular person, persons or entity to make such determination is to be included in a written notification  to Indemnitee. The person, persons or entity chosen to make a determination under this  Agreement  of  the Indemnitee’s entitlement to indemnification shall act reasonably and in good faith in making such determination. 
6.3    Selection of Independent Counsel.  If the determination of entitlement to indemnification  pursuant  to  Section  6.2  will  be  made  by  an  Independent Counsel, the Independent  Counsel will be selected as provided in this Section 6.3. The Independent Counsel will  be  selected by the Company (unless the Company requests that such selection be made by the  Indemnitee,  in  which  event  the  immediately  following  sentence  will apply), and the Company will give written notice to Indemnitee advising Indemnitee of the identity of the Independent Counsel so selected. If the Independent Counsel is selected by the Indemnitee, Indemnitee will give written notice to the Company advising of the identity of the Independent Counsel  so  selected.  In  either  event,  Indemnitee or the Company, as the case may be, may, within ten days after such written notice of selection is given, deliver to the Company or to Indemnitee,  as  the  case may be, a written objection to such selection; provided, however, that such objection may be asserted only on the ground that the Independent Counsel so selected does not  meet  the  requirements  of “Independent Counsel” as defined in this Agreement, and the objection will set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so selected will act as Independent Counsel. If a written objection is made and substantiated, the Independent Counsel selected may not serve as Independent Counsel 

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unless  and  until such objection is withdrawn or a court has determined that such objection is without merit. If, within 30 days after submission by Indemnitee of a written request for indemnification pursuant to Section 6.1, no Independent Counsel is selected, or an Independent Counsel for which an objection thereto has been properly made remains unresolved, either the Company  or Indemnitee may petition a court of competent jurisdiction for resolution of any objection  which has been made by the Company or Indemnitee to the other’s selection of Independent Counsel and/or for the appointment as Independent Counsel of a person selected by the court  or  by  such  other  person as the court may designate, and the person with respect to whom all objections are so resolved or the person so appointed will act as Independent Counsel under  Section  6.2.  The  Company  will  pay  any  and all reasonable and necessary fees and expenses  incurred  by  such Independent Counsel in connection with acting pursuant to Section 6.2  hereof, and  the Company will pay all fees and expenses incident to the procedures of this Section  6.3,  regardless  of  the  manner in which such Independent Counsel was selected or appointed. 
6.4    Burden of Proof.  In making a determination with respect to entitlement to indemnification hereunder, the person, persons or entity making such determination will presume that  Indemnitee  is  entitled  to  indemnification  under  this  Agreement.  Anyone seeking to overcome  this  presumption  will have the burden of proof. Indemnitee will be deemed to have acted in good faith if Indemnitee’s action with respect to a particular Enterprise is based on the records or books of account of such Enterprise, including financial statements, or on information supplied to Indemnitee by the officers of such Enterprise in the course of their duties, or on the advice of legal counsel for such Enterprise or on information or records given or reports made to such Enterprise by an independent certified public accountant or by an appraiser or other expert selected  by such Enterprise; provided, however this sentence will not be deemed to limit in any way the other circumstances in which Indemnitee may be deemed to have met the appropriate standard of conduct and provided further that this sentence shall not excuse fraudulent or other knowing  improper  actions taken by Indemnitee. In addition, the knowledge and/or actions, or failure  to  act,  of any other director, officer, agent or employee of such Enterprise will not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement. 
6.5    No Presumption in Absence of a Determination or As Result of an Adverse Determination;  Presumption Regarding Success.  Neither the failure of any person, persons or entity  chosen to make a determination as to whether Indemnitee has met any particular standard of  conduct  or had any particular belief to make such determination, nor an actual determination by such person, persons or entity that Indemnitee has not met such standard of conduct or did not have  such  belief, prior  to  or  after the commencement of legal proceedings by Indemnitee to secure  a  judicial  determination  that Indemnitee should be indemnified under this Agreement under Applicable Law, will be a defense to Indemnitee’s claim or create a presumption that Indemnitee  has  not met any particular standard of conduct or did not have any particular belief. In  addition,  the  termination  of any Legal Action by settlement approved by the Management Board and Supervisory Board (whether with or without court approval) or upon a plea of nolo contendere, or its equivalent, will not create a presumption that Indemnitee did not meet any particular standard of conduct or have any particular belief or that a court has determined that indemnification is not permitted by this Agreement or Applicable Law. 

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6.6    Timing of Determination.  The  Company  will  use its reasonable best efforts to cause any determination required to be made pursuant to Section 6.2 to be made as promptly as practicable  after  Indemnitee  has  submitted a written request for indemnification pursuant to Section 6.1. 
6.7    Timing  of  Payments.  All  payments  of  Expenses,  including   any  Expense Advance,  and other amounts by the Company to the Indemnitee pursuant to this Agreement will be  made  as  soon  as practicable after a written request or demand therefor by Indemnitee is presented  to  the Company, but in no event later than 30 days after (i) such demand is presented or (ii) such later date as a determination of entitlement to indemnification is made in accordance with Section 6.6, if applicable; provided, however, that an Expense Advance will be made within the time provided in Section 4.3 hereof. 
6.8    Cooperation.  Indemnitee will cooperate with the person, persons or entity making a determination with respect to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity, upon reasonable advance request, any documentation or information  which  is  not  privileged  or  otherwise  protected from disclosure and which is reasonably  available  to  Indemnitee  and  reasonably  necessary  to such determination. Any Expenses  incurred  by  Indemnitee in so cooperating with the person, persons or entity making such determination will be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification). 
6.9    Time for Submission of Request.  Indemnitee  will  be  required  to submit any request for Indemnification pursuant to this Article 6 within a reasonable time, not to exceed two years, after any judgment, order, settlement, dismissal, arbitration award, conviction, acceptance of  a plea of nolo contendere (or its equivalent) or other full or partial final determination or disposition of the Legal Action (with the latest date of the occurrence of any such event to be considered the commencement of the two year period). 
ARTICLE 7     
LIABILITY INSURANCE 
7.1    Liability Insurance.  The Company will use its reasonable endeavors to obtain and maintain  a  policy  or  policies  of  Liability Insurance with one or more reputable insurance companies providing Indemnitee with coverage in such amount as will be determined by the Supervisory Board for Claims and Expenses paid or incurred by Indemnitee as a result of acts or omissions  of  Indemnitee  in  his  or  her  Corporate  Status,  and  to ensure the Company’s performance of its indemnification obligations under this Agreement, to the extent that a policy covering  the  indemnification  obligations  under  this  Agreement  is reasonably  attainable;  provided,  however,  in all policies of director and officer liability insurance obtained by the Company, Indemnitee will be named as an Insured in such manner as to provide Indemnitee with the same rights and benefits as are afforded to the other directors or officers, as applicable, of the Company  under such policies. Any reductions to the amount of director and officer liability insurance  coverage  maintained  by the  Company as of the date hereof will be subject to the approval of the Supervisory Board. 

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7.2    Notice to Insurers.  If, at the time of receipt by the Company of a notice from any source of a Legal Action as to which Indemnitee is a party or participant, the Company will give prompt notice of such Legal Action to the insurers in accordance with the procedures set forth in the respective policies, the Company will provide Indemnitee with a copy of such notice. The Company will thereafter take all necessary or desirable actions to cause such insurers to pay, on behalf  of  Indemnitee,  all  amounts payable as a result of such Legal Action in accordance with the terms of such policies. 
7.3    Cooperation with Company.  The Indemnitee will cooperate in all ways with the Company  and  its  counsel  and,  if  required  by the Company, with the insurers issuing the Company’s Liability Insurance, to the extent the Company deems such cooperation reasonably necessary in connection with the tender, evaluation, investigation, and pursuant of insurance coverage for any Legal Action. 
ARTICLE 8
REMEDIES OF INDEMNITEE 
8.1    Action by Indemnitee.  In the event that (i) a determination is made pursuant to Article 6  of  this  Agreement  that  Indemnitee  is  not entitled to indemnification under this Agreement,  (ii) an Expense  Advance  is  not  timely  made  pursuant  to Section 4.3 of this Agreement, (iii) no determination of entitlement to indemnification is made within the applicable time periods specified in Section 6.6 or (iv) payment of indemnified amounts is not made within the applicable time periods specified in Section 6.7, Indemnitee will be entitled to seek an award in arbitration  to  be  conducted  by  a  single arbitrator pursuant to the rules of the American Arbitration  Association;  such  award  to  be  made  within 60 days following the filing of the demand  for arbitration. The provisions of the laws of the State of Texas (without regard to its conflict  of  laws rules that would cause the application of the laws of another jurisdiction) will apply to any such arbitration. The Company will not oppose Indemnitee’s right to seek any such adjudication or award in arbitration. 
8.2    Company Bound by Favorable Determination by Reviewing Party.  If  a determination is made that Indemnitee is entitled to indemnification pursuant to Article 6, the Company  will  be  bound  by  such determination in any judicial proceeding or arbitration commenced pursuant to this Article 8, absent (i) a misstatement by Indemnitee of a material fact or  an omission of a material fact necessary to make Indemnitee’s statements in connection with the  request for indemnification not materially misleading or (ii) a prohibition of such indemnification under Applicable Law. 
8.3    Company Bound by Provisions of this Agreement.  The Company and Indemnitee will  each  be  precluded  from asserting in any judicial or arbitration proceeding commenced pursuant to this Article 8 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and will stipulate in any such judicial or arbitration proceeding that the Company is bound by all the provisions of this Agreement. 

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ARTICLE 9
NON-EXCLUSIVITY, SUBROGATION; NO DUPLICATIVE PAYMENTS 
9.1    Non-Exclusivity.  The rights of indemnification and to receive Expense Advances as provided by this Agreement are not exclusive of any other rights to which Indemnitee may at any time be entitled under Applicable Law, the Articles, any agreement, a vote of stockholders, a resolution  of  the  directors  or otherwise. To the extent Indemnitee otherwise would have any greater right to indemnification or payment of any advancement of Expenses under any other provisions  under Applicable Law, the Articles, any agreement, vote of stockholders, a resolution of directors or otherwise, Indemnitee will be entitled under this Agreement to such greater right. No  amendment,  alteration  or  repeal  of  this Agreement or of any provision hereof limits or restricts  any  right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee prior to such amendment, alteration or repeal. To the extent that a change in Applicable  Law,  whether  by statute or judicial decision, permits greater indemnification than would be afforded currently under the Articles and this Agreement, it is the intent of the parties hereto that Indemnitee enjoy by this Agreement the greater benefits so afforded by such change. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy will be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment  of  any right or remedy hereunder, or otherwise, will not prevent the concurrent assertion or employment of any other right or remedy. 
9.2    Subrogation.  In the event of any payment by the Company under this Agreement, the Company will be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee  with  respect  thereto,  including  rights  under  any  policy of insurance or other indemnity agreement or obligation, and Indemnitee will execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable  the  Company  to  bring  suit  to  enforce  such rights (it being understood that all of Indemnitee’s reasonable Expenses related thereto will be borne by the Company). 
9.3    No Duplicative Payments.  The Company will not be liable under this Agreement to  make  any  payment  of  amounts  otherwise  indemnifiable  (or any Expense for which advancement is provided) hereunder if and to the extent that Indemnitee is otherwise entitled to receive  such  payment  under  any insurance policy, contract, agreement or otherwise. The Company’s obligation to indemnify or advance Expenses hereunder to Indemnitee in respect of Legal  Actions  relating  to  Indemnitee’s  service  at the request of the Company as a director, officer, employee, partner, member, manager, trustee, fiduciary or agent of any other Enterprise will be reduced by any amount Indemnitee is actually entitled to receive as indemnification or advancement of Expenses from such other Enterprise. Subject to Section 4.1, the indemnity obligations of this Agreement shall apply in excess of the Company’s Liability Insurance and to any other insurance or indemnities available to the Indemnitee. 
ARTICLE 10
DEFENSE OF PROCEEDINGS 
10.1    Company Assuming the Defense.  In the event the Company is obligated to pay in advance  the  Expenses  of any Legal Action pursuant to Article 4, the Company will be entitled, 

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by  written  notice  to Indemnitee,  to  assume the defense of such Legal Action, with counsel approved by Indemnitee, which approval will not be unreasonably withheld or delayed. The Company will identify the counsel it proposes to employ in connection with such defense as part of the  written  notice  sent  to  Indemnitee  notifying Indemnitee of the Company’s election to assume such defense, and Indemnitee will be required, within ten days following Indemnitee’s receipt  of  such  notice,  to  inform  the Company of its approval of such counsel or, if it has objections,  the  reasons  therefor.  If  such  objections  cannot  be resolved by the parties, the Company will identify alternative counsel, which counsel will also be subject to approval by Indemnitee in accordance with the procedure described in the prior sentence. In the absence of an actual  conflict  of  interest  that  would  prevent defense counsel from representing both the Indemnitee and other defendants in the Legal  Action,  the Indemnitee agrees that the Company may assign defense counsel to represent Indemnitee and other defendants in that Legal Action. 
10.2    Right of Indemnitee to Employ Counsel.  Following approval of counsel by Indemnitee  pursuant  to  Section  10.1  and  retention  of  such  counsel by the Company, the Company  will  not be liable to Indemnitee under this Agreement for any fees and expenses of counsel subsequently incurred by Indemnitee with respect to the same Legal Action; provided, however,  that (a) Indemnitee has the right to employ counsel in any such Legal Action at Indemnitee’s expense and (b) the Company will be required to pay the fees and expenses of Indemnitee’s  counsel  if  (i)  the  employment of counsel by Indemnitee is authorized by the Company, (ii) an actual conflict of interest arises between the Company (or any other person or persons  included  in  a  joint  defense)  and  Indemnitee in the conduct of such defense or representation by such counsel retained by the  Company  and  the  Company has not appointed new  counsel  without such conflict of interest to represent the Indemnitee or (iii) the Company does not continue to retain such counsel approved by the Indemnitee and the Company has not appointed new counsel to represent the Indemnitee in accordance with Section 10.1. 
ARTICLE 11
SETTLEMENT 
11.1    Company Bound by Provisions of this Agreement.   Notwithstanding anything in this  Agreement to the contrary, the Company will have no obligation to indemnify Indemnitee under  this  Agreement  for any amounts paid in settlement of any Legal Action effected without the Company’s prior written consent, which consent shall not be unreasonably withheld. 
11.2    When Indemnitee’s Prior Consent Required.  The Company will not, without the prior written consent of Indemnitee, consent to the entry of any judgment against Indemnitee or enter  into  any settlement or compromise which (i) contains any non-monetary remedy imposed on Indemnitee or a Loss for which Indemnitee is not wholly indemnified hereunder or (ii) with respect to  any  Legal Action with respect to which Indemnitee is made a party or a participant or is otherwise entitled  to  seek  indemnification  hereunder, does not include, as an unconditional term thereof, the full release of Indemnitee from  all  liability  in respect of such Legal Action. Neither the Company nor Indemnitee will unreasonably withhold its consent to any proposed settlement; provided, however, Indemnitee may withhold consent to any settlement that does not provide a full and unconditional release of Indemnitee from all liability in respect of such Legal Action. 

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ARTICLE 12
DURATION OF AGREEMENT; PERIOD OF LIMITATIONS 
12.1    Duration of Agreement.  This  Agreement  will continue until and terminate upon the latest of (a) the statute of limitations applicable to any claim that could be asserted against an Indemnitee  with respect to which Indemnitee may be entitled  to  indemnification  and/or  an Expense  Advance  under  this Agreement, (b) ten years after the date that Indemnitee has ceased to  serve  as  a  director  or officer of the Company or as a director, officer, employee, partner, member,  manager,  fiduciary  or agent of any other Enterprise which Indemnitee served at the request of the Company, or (c) if, at the later of the dates referred to in (a) and (b) above, there is pending a Legal Action in respect of which Indemnitee is granted rights of indemnification or the right to an Expense Advance under this Agreement or a Legal Action commenced by Indemnitee pursuant to Article 8 of this  Agreement,  one  year  after  the  final  termination of such Legal Action, including any and all appeals. 
ARTICLE 13
MISCELLANEOUS 
13.1    Entire Agreement.  This Agreement constitutes the entire agreement and understanding of the parties in respect of the subject matter hereof and supersedes all prior understandings,  agreements  or  representations by or among the parties, written or oral, to the extent they relate in any way to the subject matter hereof; provided, however, it is agreed that the provisions  contained  in  this  Agreement  are  a  supplement to, and not a substitute for, any provisions regarding the same subject matter contained in the Articles and any employment or similar agreement between the parties. 
13.2    Assignment;  Binding Effect; Third Party Beneficiaries.  No  party  may  assign  either this Agreement or any  of  its rights, interests or obligations hereunder without the prior written approval of the other party and any  such  assignment by a party without prior written approval of the other parties will be deemed  invalid  and not binding on such other parties. All of the terms, agreements, covenants, representations,  warranties  and conditions of this Agreement are  binding  upon, and inure to the benefit of and are enforceable  by,  the  parties  and  their  respective successors, permitted assigns, heirs, executors and personal and legal representatives. There are no third party beneficiaries having rights under or with respect to this Agreement. 
13.3    Notices.  All  notices,  requests  and  other  communications  provided  for  or permitted  to  be  given  under  this  Agreement  must  be in writing and be given by personal delivery,  by  certified  or  registered  mail  (postage  prepaid,  return receipt requested), by a nationally  recognized  overnight  delivery  service  for next day delivery, or by facsimile transmission, as follows (or to such other address as any party may give in a notice given in accordance with the provisions hereof): 

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If to the Company: 
Frank’s International N.V.
Mastenmakersweg 1
1786 PB Den Helder, The Netherlands
Attention: Alejandro Cestero
Facsimile: (281) 558-2980

with a copy to: 
Frank’s International N.V.
10260 Westheimer Rd.
Houston, Texas 77042
Attention: Alejandro Cestero 
Facsimile: (281) 558-2980
If to Indemnitee: 
Douglas Stephens
10260 Westheimer, Suite 700
Houston, TX 77042
Facsimile: (281) 558-2980
All notices,  requests  or  other  communications  will  be  effective and deemed given only as follows: (i) if given by personal delivery, upon such personal delivery, (ii) if sent by certified or registered  mail,  on the fifth business day after being deposited in the United States mail, (iii) if sent for next day delivery by overnight delivery service, on the date of delivery as confirmed by written confirmation of delivery, (iv) if sent by facsimile, upon the transmitter’s confirmation of receipt  of  such  facsimile  transmission,  except that if such confirmation is received after 5:00 p.m. (in the recipient’s time zone) on a business day, or is received on a day that is not a business day, then such notice, request or  communication will not be deemed effective or given until the next succeeding business day. Notices, requests and  other  communications  sent in any other manner, including by electronic mail, will not be effective. 
13.4    Specific Performance; Remedies.  Each  party acknowledges and agrees that the other party would be damaged irreparably if any provision of this Agreement were not performed in accordance with its specific terms or were otherwise breached. Accordingly, the parties will be entitled  to  an injunction or injunctions to prevent breaches of the provisions of this Agreement and to enforce  specifically  this  Agreement  and  its  provisions  in any action or proceeding instituted in any court having jurisdiction over the parties and the matter, in addition to any other remedy  to  which  they  may  be entitled, at law or in equity. Except as expressly provided for herein,  the  rights,  obligations  and  remedies created by this Agreement are cumulative and in addition  to  any  other  rights,  obligations  or remedies otherwise available at law or in equity. Except as expressly provided herein, nothing herein will be considered an election of remedies. 
13.5    Submission to Jurisdiction.  Any  Legal  Action  seeking to enforce any provision of, or based  on  any  matter  arising out of or in connection with, this Agreement may only be 

14

brought  in  any courts in the State of Texas, which will be the exclusive and only proper forums for adjudicating  such  Legal  Action,  and each party consents to the exclusive jurisdiction and venue  of  such  courts  (and  of  the  appropriate appellate courts therefrom) in any such Legal Action and irrevocably waives, to the fullest extent permitted by Applicable Law, any objection that it may now or hereafter have to the laying of the venue of any such Legal Action in any such court  or  that  any  such  Legal  Action  brought  in  any  such court has been brought in an inconvenient forum. Process in any such action, suit or proceeding may be served on any party anywhere in the world, whether within or without the jurisdiction of any such court. 
13.6    Headings.  The  article  and  section  headings contained in this Agreement are inserted for convenience only and will not affect in any way the meaning or interpretation of this Agreement. 
13.7    Governing  Law.  This  Agreement  will  be  governed  by  and  construed  in  accordance  with  the  laws  of  the State of Texas, without giving effect to any choice of law principles. 
13.8    Amendment.  This  Agreement  may  not  be  amended or modified except by a writing signed by all of the parties. 
13.9    Extensions; Waivers.  Any party may, for itself only, (i) extend the time for the performance of any of the obligations of any other party under this Agreement, (ii) waive any inaccuracies in the representations and warranties of any other party contained herein or in any document delivered pursuant hereto and (iii) waive compliance with any of the agreements or conditions  for the benefit of such party contained herein. Any such extension or waiver will be valid only if  set  forth  in  a writing signed by the party to be bound thereby. No waiver by any party of any default, misrepresentation or breach of warranty or covenant hereunder, whether intentional or not, may be deemed to extend to any prior or subsequent default, misrepresentation or  breach  of warranty or covenant hereunder or affect in any way any rights arising because of any prior or  subsequent  such  occurrence.  Neither the failure nor any delay on the part of any party to exercise any right or remedy under this Agreement will operate as a waiver thereof, nor will any single or partial exercise of any right or remedy preclude any other or further exercise of the same or of any other right or remedy. 
13.10    Severability.  The provisions of this Agreement will be deemed severable and the invalidity or unenforceability of any provision will not affect the validity or enforceability of the other provisions hereof; provided that if any provision of this Agreement, as applied to any party or  to  any  circumstance,  is judicially determined not to be enforceable in accordance with its terms, the parties  agree  that the court judicially making such determination may modify the provision in a manner consistent with its objectives such that it is enforceable, and/or to delete specific words or phrases, and in its modified form, such provision will then be enforceable and will be enforced. 
13.11    Counterparts; Effectiveness.  This Agreement may be executed in two or more counterparts,  each of which will be deemed an original but all of which together will constitute one and  the  same  instrument.  This  Agreement  will  become effective when one or more counterparts have  been signed by each of the parties and delivered to the other parties, which 

15

delivery  may  be  made  by  exchange  of  copies  of the signature page by facsimile or other electronic transmission. 
13.12    Construction.  This Agreement has been freely and fairly negotiated among the parties.  If  an ambiguity or question of intent or interpretation arises, this Agreement will be construed as  if drafted jointly by the parties and no presumption or burden of proof will arise favoring or disfavoring any party because of the authorship of any provision of this Agreement. Any reference to any law will be deemed also to refer to such law as amended and all rules and regulations promulgated thereunder, unless the context requires otherwise. The words “include,” “includes,” and “including” will be deemed to be followed by “without limitation.” Pronouns in masculine,  feminine,  and  neuter  genders  will  be construed to include any other gender, and words  in  the  singular  form will be construed to include the plural and vice versa, unless the context  otherwise  requires. The words “this Agreement,” “herein,” “hereof,” “hereby,” “hereunder,” and words  of  similar  import refer to this Agreement as a whole and not to any particular subdivision unless expressly so limited. The parties intend that each representation, warranty, and covenant contained herein will have independent significance. If any party has breached any representation, warranty, or covenant contained herein in any respect, the fact that there exists another representation, warranty or covenant relating to the same subject matter (regardless of the relative levels of specificity) which the party has not breached will not detract from  or  mitigate  the  fact  that the party is in breach of the first representation, warranty, or covenant. Time is of the essence in the performance of this Agreement. 
[Signature page follows] 

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written. 
	
			
	 
	 
	FRANK'S INTERNATIONAL N.V.

	
					
	 
	 
	By:
	/s/ Alejandro Cestero
	 

	 
	 
	Name:
	Alejandro Cestero
	 

	 
	 
	Title:
	Senior Vice President, General Counsel and

	 
	 
	 
	Secretary
	 

	
			
	 
	 
	Indemnitee

	
					
	 
	 
	 
	/s/ Douglas Stephens
	 

	 
	 
	Name:
	Douglas StephensExhibit

Exhibit 10.17

                        

	
		
	EMPLOYEE:
	Burney J. Latiolais, Jr.

	 
	 

	 
	 

	POSITION / TITLE:
	Executive Vice President, Global Operations

	 
	 

	 
	 

	CLASSIFICATION:
	Exempt/Full Time

	 
	 

	 
	 

	EFFECTIVE DATE:
	October 5, 2016

	 
	 

	 
	 

	BASE COMPENSATION:
	$ 400,000.00 per year (includes auto allowance)

	 
	 

	 
	 

	 
	 

	STI:
	100% of base salary at 100% of Target

	 
	 

	LTI:
	Annual RSU or Performance Grants awarded at 100% of base

	 
	salary at 100% of Target.  3 Year graded vesting

	 
	 

	VACATION:
	No Change

Acceptance of Offer:

/s/ BURNEY J. LATIOLAIS, JR.    
Burney J. Latiolais, Jr.

October 4, 2016    
Date

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