On July 1, 2020, Forbes Energy Services LLC (FES LLC), a subsidiary of Forbes Energy Services Ltd. (the “Company”), together with the administrative agent (the “Agent”) and certain of the lenders (the “Lenders”) under its existing Loan and Security Agreement (the “Term Loan”), entered into a forbearance agreement (the “Forbearance Agreement”), pursuant to which such Lenders have agreed, and have instructed the Term Loan agent to agree, to forbear from declaring the loans and all other obligations under the Term Loan to be due and payable as a result of the occurrence of certain specified defaults, including failure to pay interest in cash on a scheduled interest payment date and failure to comply with the requirements to provide notice related to any default or event of default in respect of the interest payment scheduled for July 1, 2020.