Exhibit 10.2
Execution Version
Lock-Up Agreement
September 11, 2024
Solaris Oilfield Infrastructure, Inc.
9651 Katy Freeway, Suite 300
Houston, TX 77024
Attention: Christopher Powell
Email: christopher.powell@solarisoilfield.com
Re: Lock-Up Agreement
Ladies and Gentlemen:
This letter (this “Letter Agreement”) is being delivered to you in accordance with the Contribution Agreement, dated as of July 9, 2024 (the “Contribution Agreement”), by and among (a) Solaris Oilfield Infrastructure, Inc., a Delaware corporation (“Acquiror Parent”), (b) Solaris Oilfield Infrastructure, LLC, a Delaware limited liability company and a subsidiary of Acquiror Parent (“Acquiror”), (c) (i) John A. Johnson, an individual resident of the State of Florida, and (ii) John Tuma, an individual resident of the State of Texas, and (d) (i) J Turbines, Inc., a Delaware corporation, and (ii) KTR Management Company, LLC, a Texas limited liability company. Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Contribution Agreement.
In order to induce Acquiror Parent and Acquiror to proceed with the Transactions and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned (the “Securityholder”) hereby agrees with Acquiror Parent and Acquiror as follows:
1. The Securityholder hereby irrevocably agrees, without the prior written consent of Acquiror Parent, not to, directly or indirectly, (i) offer for sale, sell, pledge, or otherwise dispose of (or enter into any transaction or device that is designed to result or would be reasonably likely to result in the disposition by any Person at any time in the future of) any shares of Acquiror Parent Class B Common Stock or Acquiror Units issued as Closing Equity Consideration (or any shares of Acquiror Parent Class A Common Stock acquired in exchange therefor), (ii) enter into any swap or other derivatives transaction that transfers to another, in whole or in part, any of the economic benefits or risks of ownership of any shares of Acquiror Parent Class B Common Stock or Acquiror Units issued as Closing Equity Consideration (or any shares of Acquiror Parent Class A Common Stock acquired in exchange therefor), whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of any such shares of Acquiror Parent Class B Common Stock, Acquiror Units (or any shares of Acquiror Parent Class A Common Stock acquired in exchange therefor) or other Equity Interests, other securities, in cash or otherwise or (iii) publicly disclose the intention to do any of the foregoing, in each case until one-hundred eighty (180) days following the Closing Date (the “Lock-Up”).
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