CONFIDENTIAL SEPARATION AGREEMENT AND RELEASESeparation Agreement • May 2nd, 2017 • Frank's International N.V. • Oil & gas field services, nec • Texas
This Confidential Separation Agreement and Release (“Agreement”) is by and between Daniel Allinger (“Employee”) and Frank’s International, LLC and its affiliated or subsidiary/parent/related companies (collectively referred to as the “Company”). Employee and the Company are collectively referred to as “the Parties.” This Agreement was delivered to Employee on January 25, 2017.
From: ZB, N.A., d/b/a Amegy Bank, as Administrative Agent (“Administrative Agent”) Date: April 18, 2017 Subject: Limited Waiver of Financial Covenants (the “Limited Waiver”)Limited Waiver of Financial Covenants • May 2nd, 2017 • Frank's International N.V. • Oil & gas field services, nec
Frank’s International C.V., a limited partnership formed under the laws of the Netherlands (the “Borrower”), has requested that the Lenders waive compliance with (i) the Leverage Ratio set forth in Section 6.10 of the Credit Agreement (hereafter defined) and (ii) the Interest Coverage Ratio set forth in Section 6.11 of the Credit Agreement for the fiscal quarters ending March 31, 2017 and June 30, 2017 subject to the Borrower complying with the following four conditions (collectively, the “Limited Waiver Conditions”):
