On March 9, 2020, Basic Energy Services, Inc. entered into a Purchase Agreement with Ascribe Investments III LLC, (Ascribe"), NexTier Holding Co., (Seller") and C&J Well Services, Inc., and wholly owned subsidiary of Seller (CJWS"). In connection with the Transaction, Messrs. Timothy H. Day and Samuel E. Langford resigned as directors of the Board, on March 9, 2020. Each of the resignations of Mr. Day and Mr. Langford from the Board was not a result of a disagreement with the Company or on any matter relating to the Company's operations, policies or practices and was in connection with the Transaction. Mr. Day served as Chairperson of the Compensation Committee and as a member of the Audit Committee. Mr. Langford served as a member of the Nominating and Corporate Governance Committee. Additionally, on March 9, 2020, Lawrence First was appointed as a Class I Director, Derek Jeong was appointed as a Class II Director, and Ross Solomon was appointed as a Class III Director. Lawrence Larry" First. Mr. Lawrence First currently serves as the Chief Investment Officer and Managing Director of Ascribe Capital LLC (Ascribe Capital"). Mr. First joined Ascribe Capital in 2008. Ross Solomon. Mr. Ross Solomon currently serves as a Managing Director at Ascribe Capital. Ross joined Ascribe Capital in 2012. Derek Jeong. Mr. Derek Jeong currently serves as a Principal at Ascribe Capital. Derek joined Ascribe Capital in 2014.