Document:

Exhibit 10.31

 

Global Geophysical Services, Inc.

13927 S. Gessner Rd.

Missouri City, TX  77489

713-972-9200

 

December 29, 2009

 

Richard Degner

2127 Bissonnet St.

Houston, TX  77005

 

Re:          Request
for Repurchase of Company shares

 

Dear Richard,

 

Pursuant to the Board
approved repurchase of shares dated December 28, 2009, and your letter to
the Company dated December 29, 2009, Global Geophysical Services has
agreed to purchase 188,000 shares from you at a price of $14.00 per share.  The money will be wired to your account by
the end of this month.

 

Should you have any
questions, please do not hesitate to contact me.

 

Sincerely,

 

Alvin L. Thomas

Sr. Vice President &
General Counsel

Global Geophysical Services, Inc.

 

 

December 29, 2009

 

Alvin L. Thomas

Sr. Vice President,
Secretary

& General Counsel

Global Geophysical Services, Inc.

13927 S. Gessner Rd.

Missouri City, TX  77489

 

Re:          Buyback of Company shares

 

Dear Alvin,

 

I currently hold 1,243,000
shares of Series A Preferred Stock of the Company.  Of these shares, I wish to convert 188,000
shares to Class B Common shares, and sell these back to the Company at a
price of $14.00 per share, pursuant to the board approved repurchase of shares
on December 28, 2009.  I wish to
sell all 75,000 shares from Preferred A certificate #101, and 113,000 shares
from Preferred A certificate #5, leaving me a total balance of 1,055,000 shares
of Series A Preferred Stock.

 

Should you have any
questions, please do not hesitate to contact me.

 

Sincerely,

 

 

Richard Degner

 

 

Global Geophysical Services, Inc.

13927 S. Gessner Rd.

Missouri City, TX  77489

713-972-9200

 

December 29, 2009

 

Tom Fleure

4310 Peninsula Place

Missouri City, TX  77459

 

Re:          Request
for Repurchase of Company shares

 

Dear Tom,

 

Pursuant to the Board
approved repurchase of shares dated December 28, 2009, and your letter to
the Company dated December 29, 2009, Global Geophysical Services has
agreed to purchase 25,000 shares from you at a price of $14.00 per share.  The money will be wired to your account by
the end of this month.

 

Should you have any
questions, please do not hesitate to contact me.

 

Sincerely,

 

Alvin L. Thomas

Sr. Vice President &
General Counsel

Global Geophysical Services, Inc.

 

 

December 29, 2009

 

Alvin L. Thomas

Sr. Vice President,
Secretary

& General Counsel

Global Geophysical Services, Inc.

13927 S. Gessner Rd.

Missouri City, TX  77489

 

Re:          Buyback of Company shares

 

Dear Alvin,

 

I currently hold 364,000
shares of Class B Common Stock of the Company.  Of these shares, I wish to sell 25,000 shares
back to the Company at a price of $14.00 per share, pursuant to the board
approved repurchase of shares on December 28. 2009.

 

Should you have any
questions, please do not hesitate to contact me.

 

Sincerely,

 

 

Thomas J. Fleure

 

 

Global Geophysical Services, Inc.

13927 S. Gessner Rd.

Missouri City, TX  77489

713-972-9200

 

December 29, 2009

 

Heidi Brown

2402 Cezanne Circle

Missouri City, TX  77459

 

Re:          Request
for Repurchase of Company shares

 

Dear Heidi,

 

Pursuant to the Board
approved repurchase of shares dated December 28, 2009, and your letter to
the Company dated December 29, 2009, Global Geophysical Services has
agreed to purchase 57,143 shares from you at a price of $14.00 per share.  The money will be wired to your account by
the end of this month.

 

Should you have any
questions, please do not hesitate to contact me.

 

Sincerely,

 

Alvin L. Thomas

Sr. Vice President &
General Counsel

Global Geophysical Services, Inc.

 

 

December 29, 2009

 

Alvin L. Thomas

Sr. Vice President,
Secretary

& General Counsel

Global Geophysical Services, Inc.

13927 S. Gessner Rd.

Missouri City, TX  77489

 

Re:          Buyback of Company shares

 

Dear Alvin,

 

I currently hold 456,250
shares of Series A Preferred Stock of the Company.  Of these shares, I wish to convert 57,143
shares to Class B Common shares, and sell these back to the Company at a
price of $14.00 per share, pursuant to the board approved repurchase of shares
on December 28, 2009.  I wish to
sell all 57,143 shares from Preferred A certificate #23, leaving me a total
balance of 399,107 shares of Series A Preferred Stock.

 

Should you have any
questions, please do not hesitate to contact me.

 

Sincerely,

 

 

Heidi Brown

 

 

Global Geophysical Services, Inc.

13927 S. Gessner Rd.

Missouri City, TX  77489

713-972-9200

 

December 29, 2009

 

John Degner

3752 Lake St.

Houston, TX  77098

 

Re:          Request
for Repurchase of Company shares

 

Dear John,

 

Pursuant to the Board
approved repurchase of shares dated December 28, 2009, and your letter to
the Company dated December 29, 2009, Global Geophysical Services has
agreed to purchase 37,500 shares from you at a price of $14.00 per share.  The money will be wired to your account by
the end of this month.

 

Should you have any
questions, please do not hesitate to contact me.

 

Sincerely,

 

Alvin L. Thomas

Sr. Vice President &
General Counsel

Global Geophysical Services, Inc.

 

 

December 29, 2009

 

Alvin L. Thomas

Sr. Vice President,
Secretary

& General Counsel

Global Geophysical Services, Inc.

13927 S. Gessner Rd.

Missouri City, TX  77489

 

Re:          Buyback of Company shares

 

Dear Alvin,

 

I currently hold 470,000
shares of Series A preferred Stock of the Company.  Of these shares, I wish to convert 37,500
shares to Class B Common shares, and sell these back to the Company at a
price of $14.00 per share, pursuant to the board approved repurchase of shares
on December 28, 2009.  I wish to
sell 37,500 shares from Preferred A certificate #6, leaving me a total balance
of 432,500 shares of Series A Preferred Stock.

 

Should you have any
questions, please do not hesitate to contact me.

 

Sincerely,

 

 

Richard Degner

 

	
  

  	
   

  	
   

  Global Geophysical
  Services, Inc.

  13927 S. Gessner Rd

  Missouri City, Tx 77489

  713-972-9200

  

 

December 29,
2009

 

Craig
Lindberg

13927
S. Gessner Rd. 

Missouri
City, Tx 77489

 

Re: Request for Repurchase of Company
shares 

 

Dear
Craig,

 

Pursuant
to the Board approved repurchase of shares dated December 28, 2009, and
your letter to the Company dated December 29, 2009, Global Geophysical
Services has agreed to purchase 43,920 shares from you at a price of $14.00 per
share. The money will be wired to your account by the end of this month.

 

Should
you have any questions, please do not hesitate to contact me. 

 

 

	
  Sincerely,

  	
   

  
	
   

  	
   

  
	
  /s/ Alvin L.
  Thomas

  	
   

  
	
  Alvin
  L. Thomas

  	
   

  
	
  Sr.
  Vice President & General Counsel

  	
   

  
	
  Global Geophysical
  Services, Inc.

  	
   

  

 

 

December 29,
2009

 

Richard
A. Degner

Global
Geophysical Services, Inc. 

13927
S. Gessner Rd.

Missouri
City, Texas 77489

 

Richard:

 

This
letter is to notify you that per Section VII (D) of the Transition
Agreement between myself and Global Geophysical Services Inc., (“Global”) I
would like to sell back shares of my Global capital stock. I wish to sell
43,920 shares of Global Common B stock back to the Global at $14.00 per share,
pursuant to the board approved repurchase of shares on December 28, 2009.
I would like the sale to occur in 2009. Please find instructions below for the
amount of $614,880.00 to be wired into my bank account.

 

	
  Best
  regards,

  	
   

  
	
   

  	
   

  
	
  /s/
  Craig Lindberg

  	
   

  
	
  Craig
  Lindberg

  	
   

  

 

 

Approved
by:

 

 

	
  /s/
  P. Mathew Verghese

  	
   

  
	
  Mathew
  Verghese

  	
   

  
	
  Sr.
  Vice President & CFOExhibit 10.32

 

FIRST AMENDMENT

TO THE AMENDED AND RESTATED COOPERATION AGREEMENT

 

This FIRST AMENDMENT (“Amendment”)
is entered into as of this  13th day of January, 2010 (“Effective Date”), by and between GLOBAL GEOPHYSICAL SERVICES, INC., having
a place of business in Houston Texas, U.S.  (hereinafter
referred to along with its Affiliates as “GGS”)  and SERCEL, INC., having
a place of business in Houston Texas, U.S.  (hereinafter
referred to along with its Affiliates as “Sercel”). GGS
and Sercel are sometimes hereinafter referred to individually as a “Party” and
collectively as the “Parties”.

 

WHEREAS, this Amendment
represents the First Amendment to the Amended and Restated Cooperation Agreement entered between GGS and Sercel, effective as of May 1,
2007 (the “Agreement’), which amended that certain Corporation Agreement
entered between the Parties, effective as of February 5, 2005 (the “
Original Agreement”); and

 

WHEREAS, the Parties
have discovered an unintended inconsistency in the Agreement concerning the “Effective
Date” and desire to fix and clarify that inconsistency by this Amendment.

 

NOW, THEREFORE,
for value received, and for other good and valuable consideration, the receipt
and adequacy of which are hereby acknowledged, the Parties hereto hereby agree
as follows:

 

1.               Section 1.5 of ARTICLE 1 - DEFINITIONS AND
INTERPRETATION of the Agreement is hereby revised to correctly read that “The “Effective Date” shall mean May 1, 2007”.
Consequently, the 4-year term mentioned in Article 11 - Term and Termination
shall expire April 30, 2011.

 

All capitalized
terms used herein without definition shall have the meaning assigned in the
Agreement.

 

It is understood
and agreed by the Parties that all terms and conditions of the Agreement, as
amended, remain in full force and effect unless specifically modified, altered,
or changed herein.

 

IN WITNESS WHEREOF, the
Parties have caused this Amendment to be executed in duplicate originals by
their duly authorized representatives on the dates indicated below.

 

 

	
  Global Geophysical Services, Inc.

  	
   

  	
  Sercel, Inc.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  Richard A. Degner

  	
   

  	
  By:

  	
  /s/
  Mark Farine

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name:

  	
  Richard A. Degner

  	
   

  	
  Name:

  	
  Mark Farine

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
  President &
  CEO

  	
   

  	
  Title:

  	
  Vice President of Sales

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
  January
  13, 2010

  	
   

  	
  Date:

  	
  January
  13, 2010

  

 

1

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