First Amendment to Frank’s International N.V. Employee Stock Purchase Plan

Contract Categories: Business Finance › Modification Agreements
Summary

Frank’s International N.V. has amended its Employee Stock Purchase Plan to change the rules regarding the plan’s effective date and the duration of the first plan year. The amendment specifies that the plan will start on a date chosen by the committee, which must be the first day of a calendar month, and clarifies how the first plan year will be determined based on that start date. All other terms of the plan remain unchanged. The amendment is effective as of December 31, 2013.

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EX-10.16 5 ex1016amendmenttoespp.htm EXHIBIT 10.16 Ex 10.16 Amendment to ESPP


Exhibit 10.16

FIRST AMENDMENT TO
FRANK’S INTERNATIONAL N.V.
EMPLOYEE STOCK PURCHASE PLAN
WHEREAS, FRANK’S INTERNATIONAL N.V. (the “Company”) has heretofore adopted the FRANK’S INTERNATIONAL N.V. EMPLOYEE STOCK PURCHASE PLAN (the “Plan”); and
WHEREAS, the Company desires to amend the Plan in certain respects;
NOW, THEREFORE, the Plan shall be amended as follows, effective as of December 31, 2013:
1.    Section 1.4 of the Plan shall be deleted, and the following shall be substituted therefor:
Effective Date of Plan. The Plan shall become effective on the date established for that purpose by the Committee; provided that the Committee shall select the first day of a calendar month as the Effective Date (the “Effective Date”). The first Plan Year shall commence on the Effective Date and end on the following date, as applicable (a) if the Effective Date established by the Committee is the first day of January or July, the first Plan Year will end on the December 31 next following the Effective Date, and (b) if the Effective Date established by the Committee is the first day of any other month other than January or July, the first Plan Year will end on the date that is twelve (12) months following such Effective Date.
2.    As amended hereby, the Plan is specifically ratified and reaffirmed.
IN WITNESS WHEREOF, this First Amendment has been executed by a duly authorized officer of the Company, as of the date specified below and effective as set forth herein.

FRANK’S INTERNATIONAL N.V.

By:    /s/ D. Keith Mosing            
Name: D. Keith Mosing            
Title: Chairman, President and CEO    
Dated: December 31, 2013