SEC Contract Filing

Filing Date: 2019-12-23

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>5
<FILENAME>d823217dex102.htm
<DESCRIPTION>EX-10.2
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<TITLE>EX-10.2</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXECUTION VERSION </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>VOTING
AND SUPPORT AGREEMENT </U></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS VOTING AND SUPPORT AGREEMENT, dated as of December&nbsp;18, 2019 (the <U>&#147;Agreement</U>&#148;),
by and among Superior Energy Services, Inc., a Delaware corporation (&#147;<U>NAM Parent</U>&#148;), New NAM, Inc., a Delaware corporation (&#147;<U>NAM</U>&#148;), Forbes Energy Services Ltd., a Delaware corporation (the
&#147;<U>Company</U>&#148;), and Solace Capital Partners, L.P. (the &#147;<U>Holder</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">W I T N E S S E T H: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, NAM Parent, NAM, the Company, Spieth Newco, Inc , a Delaware corporation (&#147;<U>Holdco</U>&#148;), Spieth Merger Sub, Inc., a
Delaware corporation and a wholly owned subsidiary of Holdco (&#147;<U>NAM Merger Sub</U>&#148;), and Fowler Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Holdco (&#147;<U>Fowler Merger Sub</U>&#148;), are entering into
an Agreement and Plan of Merger, dated as of the date hereof (as the same may be amended or supplemented from time to time, the &#147;<U>Merger Agreemen</U>t&#148;), providing for the mergers as described in Section&nbsp;1.01 of the Merger
Agreement, as a result of which NAM Merger Sub will merge with and into NAM, with NAM surviving such merger as a direct, wholly owned subsidiary of Holdco and Fowler Merger Sub will merge with and into the Company, with the Company surviving such
merger as a direct, wholly owned subsidiary of Holdco (collectively, the &#147;<U>Mergers</U>&#148;), all on the terms and subject to the conditions of the Merger Agreement; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Holder is the Beneficial Owner (as defined below) of (a) 947,268 shares of common stock, par value $0.01 per share, of the
Company (&#147;<U>Company Common Stock</U>&#148;) and (b)&nbsp;any shares of Company Common Stock that will be issued at any time following the date hereof and prior to or on the record date of the meeting of Fowler&#146;s stockholders to obtain the
Fowler Stockholder Approval, pursuant to a conversion of (i)&nbsp;the Fowler Convertible PIK Notes or (ii)&nbsp;the Fowler Term Loan Agreement, and, in each case, held by the Holder (all such shares of Company Common Stock, collectively, the
&#147;<U>Shares</U>&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, concurrently with the execution and delivery of the Merger Agreement, and as a condition and an
inducement to NAM Parent, NAM and the Company entering into the Merger Agreement, the Holder is entering into this Agreement; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, each of NAM Parent, NAM and the Company desires that the Holder agree, and the Holder is willing to agree, subject to the limitations
herein, not to Transfer (as defined below) any of its Shares, and to vote its Shares in a manner so as to facilitate consummation of the Mergers and the other transactions contemplated by the Merger Agreement, and to undertake certain additional
obligations in connection with the Mergers. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the mutual covenants, representations, warranties and
agreements contained herein, and intending to be legally bound hereby, the parties agree as follows: </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE I </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>GENERAL </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>1.1
</B><B><U>Definitions</U></B>. This Agreement is one of the &#147;Voting Agreements&#148; as defined in the Merger Agreement. Capitalized terms used but not defined herein shall have the meanings set forth in the Merger Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Beneficially Own</U>&#148; or <U>&#147;Beneficial Ownershi</U>p&#148; has the meaning assigned to such term in Rule <FONT
STYLE="white-space:nowrap">13d-3</FONT> under the Exchange Act, and a Person&#146;s beneficial ownership of securities shall be calculated in accordance with the provisions of such Rule (in each case, irrespective of whether or not such Rule is
actually applicable in such circumstance). For the avoidance of doubt, Beneficially Own and Beneficial Ownership shall also include record ownership of securities. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Beneficial Owners</U>&