<SEC-DOCUMENT>0001104659-20-048927.txt : 20200421
<SEC-HEADER>0001104659-20-048927.hdr.sgml : 20200421
<ACCEPTANCE-DATETIME>20200421060505
ACCESSION NUMBER:		0001104659-20-048927
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		6
CONFORMED PERIOD OF REPORT:	20200415
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200421
DATE AS OF CHANGE:		20200421

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DAWSON GEOPHYSICAL CO
		CENTRAL INDEX KEY:			0000799165
		STANDARD INDUSTRIAL CLASSIFICATION:	OIL AND GAS FIELD EXPLORATION SERVICES [1382]
		IRS NUMBER:				742095844
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32472
		FILM NUMBER:		20803894

	BUSINESS ADDRESS:	
		STREET 1:		508 WEST WALL
		STREET 2:		SUITE 800
		CITY:			MIDLAND
		STATE:			TX
		ZIP:			79701
		BUSINESS PHONE:		4326843000

	MAIL ADDRESS:	
		STREET 1:		508 WEST WALL
		STREET 2:		SUITE 800
		CITY:			MIDLAND
		STATE:			TX
		ZIP:			79701

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TGC INDUSTRIES INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tm2016322-1_8k.htm
<DESCRIPTION>FORM 8-K
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<!-- Field: Rule-Page --><DIV STYLE="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Pursuant to Section 13 or 15(d)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">of the Securities Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of report (date of earliest event reported):
April 15, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt"><B>DAWSON
GEOPHYSICAL COMPANY</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of Registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>TEXAS</B></FONT></TD>
    <TD STYLE="width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>001-32472</B></FONT></TD>
    <TD STYLE="width: 34%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>74-2095844</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State of incorporation<BR>
or organization)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Commission file number)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(I.R.S. employer identification number)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>508 West Wall, Suite 800</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Midland, Texas 79701</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)
(Zip Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(432) 684-3000</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&#8217;s telephone number, including
area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former name or former address, if changed
since last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<I>see</I> General Instruction
A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Written communications pursuant to
Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Soliciting material pursuant to Rule
14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Pre-commencement communications pursuant
to Rule 14d-2(b) under the Exchange Act &nbsp;&nbsp;&nbsp;(17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Pre-commencement communications pursuant
to Rule 13e-4(c) under the Exchange Act &nbsp;&nbsp;&nbsp;&nbsp;(17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title of each class</FONT></TD>
    <TD STYLE="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trading Symbol(s)</FONT></TD>
    <TD STYLE="width: 42%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name of each exchange on which registered</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Common Stock, $0.01&nbsp;par value</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DWSN</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>The NASDAQ Stock Market</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Emerging growth company <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 1.01.</B></TD><TD><B>Entry Into Material Definitive Agreements.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Promissory Note evidencing PPP Loan</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
April 15, 2020, Dawson Geophysical Company (the &#8220;Company&#8221;)</FONT> entered into a promissory note (the &#8220;Note&#8221;)
evidencing an unsecured $6,373,707 loan under the Paycheck Protection Program (the &#8220;PPP Loan&#8221;). The Paycheck Protection
Program was established under the Coronavirus Aid, Relief, and Economic Security Act (the &#8220;CARES Act&#8221;) and is administered
by the U.S. Small Business Administration. The PPP Loan is being made through Dominion Bank, a Texas state bank, and the Company&#8217;s
existing lender (the &#8220;Lender&#8221;) as permitted under the Company&#8217;s existing credit agreement with the Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
PPP Loan is scheduled to mature on April 15, 2022 and has a 1.00% interest rate. </FONT>No payments are due on the PPP Loan until
October 15, 2020, although interest will continue to accrue during the deferment period. Beginning October 15, 2020, the Company
will pay 19 equal monthly installments of principal and interest in the amount necessary to fully amortize the PPP Loan through
the maturity date. Under the terms of the CARES Act, all or a portion of the PPP Loan may be forgiven. Such forgiveness will be
determined, subject to limitations, based on the use of loan proceeds for payroll costs and mortgage interest, rent or utility
costs. No assurance is provided that the Company will obtain forgiveness of the PPP Loan in whole or in part.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Note contains customary events of default relating to, among other things, payment defaults, breach of representations and warranties,
or provisions of the Note. The occurrence of an event of default may result in the repayment of all amounts outstanding, collection
of all amounts owing from the Company, and/or filing suit and obtaining judgment against the Company.</FONT> Additionally, the
Note is subject to the terms and conditions applicable to loans administered by the U.S. Small Business Administration under the
CARES Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The foregoing description of the Note is
qualified in its entirety by reference to the full text of the Note, which is filed as Exhibit 10.1 to this Current Report and
is incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 2.03.</B></TD><TD><B>Creation of Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The information provided in item 1.01 of
this Current Report on Form&nbsp;8-K is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><FONT STYLE="font-size: 10pt"><B>Item 5.02.</B></FONT></TD><TD><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
of Certain Officers.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>(e)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On April 15, 2020, Dawson Geophysical Company
(the &#8220;Company&#8221;) entered into letter agreements (the &#8220;Amendments&#8221;) with each of the Executives hereinafter
specified in order to amend their respective existing employment agreements dated as of October 8, 2014, as previously amended
from time to time (the &#8220;Existing Employment Agreements&#8221;), each between the Company and the following executive officers
of the Company (collectively, the &#8220;Executives&#8221; and each an &#8220;Executive&#8221;): Stephen C. Jumper, Chairman, President
and Chief Executive Officer, C. Ray Tobias, Executive Vice President and Chief Operating Officer, James K. Brata, Executive Vice
President, Chief Financial Officer, Secretary and Treasurer and James W. Thomas, Executive Vice President and Chief Technology
Officer. The current term of the Existing Employment Agreements extends until the close of business on February 11, 2023 (the &#8220;Current
Term&#8221;) and, pursuant to the Amendments, such term shall not be automatically renewed for any period following the Current
Term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the Amendments, the Existing
Employment Agreements have been modified to set the annual base salary (the &#8220;Base Salary&#8221;) for each of the Executives,
retroactively from March 30, 2020 until February 11, 2023 (the &#8220;Adjustment Period&#8221;) unless such period is shortened
by the Board of Directors of the Company (the &#8220;Board&#8221;), as follows: (i) Mr. Jumper - $466,250, (ii) Mr. Tobias - $316,250,
(iii) Mr. Brata - $278,750 and (iv) Mr. Thomas - $214,625.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the event an Executive, during the Adjustment
Period, incurs a Qualifying Termination (as defined in the Amendments by reference to the severance provisions in the Existing
Employment Agreements that apply upon such Executive&#8217;s involuntary termination without Cause or voluntary termination for
Good Reason, in each case, as defined in the Existing Employment Agreements): (i) the salary that is used for determining certain
severance benefits will be based on the Executive&#8217;s Original Salary Rate (as defined in the Amendments) and (ii) the period
during which such severance benefit is payable shall be based on the remainder of the Current Term (as defined in the Amendments)
or twelve (12) months, whichever is longer. A retention payment, not to exceed a set amount intended to represent the aggregate
reductions to the Executive&#8217;s base salary during the Adjustment Period, subject to reduction by the Board, will be payable
to an Executive if such Executive is continuously employed until the earlier of the close of the Current Term or a Qualifying Termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The foregoing descriptions do not purport
to set forth the complete terms thereof and are qualified in their entirety by reference to the Amendments attached hereto as Exhibits
10.2 through 10.5, each of which is incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 9.01.</B></TD><TD><B>Financial Statements and Exhibits.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Exhibits</I>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="RIGHT" STYLE="width: 92%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 21%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EXHIBIT
<U><BR>
</U>NUMBER</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: left; width: 74%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DESCRIPTION</FONT></TD>
</TR>                                                                                                                                                           <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">
<TD STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="tm2016322d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</FONT></A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><A HREF="tm2016322d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</FONT></A></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><A HREF="tm2016322d1_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Promissory
                                         Note, dated April 15, 2020, from Dawson Geophysical Company to Dominion Bank</FONT></A></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">
<TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="tm2016322d1_ex10-2.htm" STYLE="-sec-extract: exhibit">10.2</A></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="tm2016322d1_ex10-2.htm" STYLE="-sec-extract: exhibit">&#8212;</A></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="tm2016322d1_ex10-2.htm" STYLE="-sec-extract: exhibit">Letter
                                         Agreement, dated April 15, 2020, between James K. Brata and the Company</A></FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">
<TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="tm2016322d1_ex10-3.htm" STYLE="-sec-extract: exhibit">10.3</A></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="tm2016322d1_ex10-3.htm" STYLE="-sec-extract: exhibit">&#8212;</A></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="tm2016322d1_ex10-3.htm" STYLE="-sec-extract: exhibit">Letter
                                         Agreement, dated April 15, 2020, between Stephen C. Jumper and the Company</A></FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">
<TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="tm2016322d1_ex10-4.htm" STYLE="-sec-extract: exhibit">10.4</A></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="tm2016322d1_ex10-4.htm" STYLE="-sec-extract: exhibit">&#8212;</A></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="tm2016322d1_ex10-4.htm" STYLE="-sec-extract: exhibit">Letter
                                         Agreement, dated April 15, 2020, between James W. Thomas and the Company</A></FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">
<TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="tm2016322d1_ex10-5.htm" STYLE="-sec-extract: exhibit">10.5</A></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="tm2016322d1_ex10-5.htm" STYLE="-sec-extract: exhibit">&#8212;</A></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="tm2016322d1_ex10-5.htm" STYLE="-sec-extract: exhibit">Letter
                                         Agreement, dated April 15, 2020, between C. Ray Tobias and the Company</A></FONT></TD></TR>
</TABLE><BR STYLE="clear: both">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DAWSON
    GEOPHYSICAL COMPANY</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:
April 21, 2020</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%">/s/ James K. Brata&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">James K. Brata</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Executive Vice President, Chief Financial Officer,</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Secretary and Treasurer</FONT></TD></TR>
</TABLE>


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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>tm2016322d1_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 204.1pt 0pt 213.05pt; text-align: center"><B>PROMISSORY NOTE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 96%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; padding-top: 1.7pt; padding-right: -1pt; padding-left: 19.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Principal</B></FONT></TD>
    <TD STYLE="width: 13%; padding-top: 1.7pt; padding-right: -1pt; padding-left: 11.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Loan Date</B></FONT></TD>
    <TD STYLE="width: 13%; padding-top: 1.7pt; padding-right: -1pt; padding-left: 17.6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Maturity</B></FONT></TD>
    <TD STYLE="width: 11%; padding-top: 1.7pt; padding-right: -1pt; padding-left: 12.6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Loan No</B></FONT></TD>
    <TD STYLE="width: 20%; padding-top: 1.7pt; padding-right: -1pt; padding-left: 10.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SBA Loan No</B></FONT></TD>
    <TD STYLE="width: 11%; padding-top: 1.7pt; padding-right: -1pt; padding-left: 13.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Account</B></FONT></TD>
    <TD STYLE="width: 9%; padding-top: 1.7pt; padding-right: -1pt; padding-left: 9.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Officer</B></FONT></TD>
    <TD STYLE="width: 8%; padding-top: 1.7pt; padding-right: -1pt; padding-left: 7.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Initials</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: -1pt; padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$6,373,707.00</FONT></TD>
    <TD STYLE="padding-right: -1pt; padding-left: 10.55pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">04/15/2020</FONT></TD>
    <TD STYLE="padding-right: -1pt; padding-left: 12.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">04/15/2022</FONT></TD>
    <TD STYLE="padding-right: -1pt; padding-left: 10.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">50002200</FONT></TD>
    <TD STYLE="padding-right: -1pt; padding-left: 12.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">55284370-06</FONT></TD>
    <TD STYLE="padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: -1pt; padding-left: 16.05pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SBV</FONT></TD>
    <TD STYLE="padding-bottom: 10pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 33.45pt 0pt 42.3pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 33.45pt 0pt 42.3pt; text-align: center">References in the boxes
above are for Lender's use only and do not limit the applicability of this document to any particular loan or item.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 134.35pt 0pt 143.45pt; text-align: center">Any item above containing
 &ldquo;***&rdquo; has been omitted due to text length limitations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; padding-top: 1.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Borrower:</B></FONT></TD>
    <TD STYLE="width: 35%; padding-top: 1.65pt; padding-right: -1pt; padding-left: 6.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">D</FONT>awson Geophysical Company</TD>
    <TD STYLE="width: 20%; padding-top: 1.7pt; padding-right: -1pt; padding-left: 41.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Lender:</B></FONT></TD>
    <TD STYLE="padding-top: 1.7pt; padding-right: -1pt; padding-left: 7.6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Dominion Bank</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Address:</B></FONT></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</FONT>08
        West Wall, Suite 800</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">M</FONT>idland,
        TX 79701</P></TD>
    <TD STYLE="padding-right: -1pt; padding-left: 41.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Address:</B></FONT></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 7.6pt"><B>17304 Preston Road, Suite 1100</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 7.6pt"><B>Dallas, Texas 75252</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.35pt 0pt 0; text-align: left"><B>PROMISE TO PAY. </B> Borrower
promises to pay to Lender, or order, in lawful money of the United States of America, the principal amount set forth above, together
with interest on the unpaid principal balance from Loan Date, as set forth above, calculated as described in the &ldquo;INTEREST
CALCULATION METHOD&rdquo; paragraph using a fixed interest rate of 1.000% per annum, until paid in full. The interest rate may
change under the terms and conditions of the &ldquo;INTEREST AFTER DEFAULT&rdquo; section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.55pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.55pt 0pt 0; text-align: left"><B>PAYMENT. </B> No payments
are due on the loan evidenced by this Note until October 15, 2020, although interest will continue to accrue during the deferment
period. Borrower will pay this loan in 19 equal monthly installments of principal and interest in the amount necessary to fully
amortize the loan through the maturity date, as the same may be further adjusted as provided herein. Borrower&rsquo;s first payment
will be due on October 15, 2020, and all subsequent payments will be due on the same day of each month thereafter. Borrower&rsquo;s
final payment will be due on the date of Maturity, as set forth above. Unless otherwise agreed or required by applicable law, payments
will be applied first to accrued interest and then to the outstanding principal balance. Borrower will pay Lender at Lender&rsquo;s
address shown above or at such other place as Lender may designate in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.35pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.35pt 0pt 0; text-align: left"><B>POTENTIAL LOAN FORGIVENESS.
</B> This loan evidenced by this Note is being made to Borrower under the Paycheck Protection Program (&ldquo;Program&rdquo;) administered
by the Small Business Administration (&ldquo;SBA&rdquo;). Under the Program, Borrower may apply to Lender for forgiveness of the
amount due on this loan in an amount equal to the sum of the following costs incurred by Borrower during the 8-week period beginning
on the date of first disbursement on this loan: (a) payroll costs, (b) any payment of interest on a covered obligation (which shall
not include any prepayment of or payment of principal on a covered mortgage obligation), (c) any payment on a covered rent obligation,
and (d) any covered utility payment. The amount of loan forgiveness shall be calculated (and may be reduced) in accordance with
the requirements of the Program, including the provisions of Section 1106 of the CARES Act. Not more than 25% of the amount forgiven
can be attributable to non-payroll costs. However, Borrower will remain liable for the full and punctual payment and satisfaction
of the remaining outstanding principal balance of the loan plus accrued but unpaid interest, except with respect to any such portion
of the Note that has been forgiven. Borrower acknowledges that Lender makes no representation or warranty as to: (i) Borrower&rsquo;s
ability to receive forgiveness for any portion of the Note under applicable law or the Program, or the amount of any such forgiveness;
(ii) the documentation required for any forgiveness; or (iii) the tax consequences, federal, state or otherwise, if any, associated
with the forgiveness of any portion of the Note. Lender will have no liability to Borrower with respect to any determination made
by Lender or SBA with respect to the amount of loan forgiveness, if any, to which Borrower may be entitled under the Program. The
amount of loan forgiveness, if any, will be applied in the same manner as all other payments under this Note, and Lender will recalculate
the fixed payments due under this Note after loan forgiveness, if any, based on a new amortization schedule and provide Borrower
with notice of such revised payment amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.55pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.55pt 0pt 0; text-align: left"><B>INTEREST CALCULATION METHOD.
</B> Interest on this Note is computed on a 30/360 simple interest basis; that is, by applying the ratio of the interest rate over
the number of days in a year (360 for all years, including leap years), multiplied by the outstanding principal balance, multiplied
by the actual number of days the principal balance is outstanding. All interest payable under this Note is computed using this
method.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.4pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.4pt 0pt 0; text-align: left"><B>PREPAYMENT. </B> Borrower
may prepay this Note in whole or in part at any time without penalty. Borrower may prepay 20 percent or less of the unpaid principal
balance at any time without notice. If Borrower prepays more than 20 percent and the loan has been sold on the secondary market,
Borrower must: (a) give Lender written notice; (b) pay all accrued interest; and (c) if the prepayment is received less than 21
days from the date Lender received the notice, pay an amount equal to 21 days interest from the date Lender received the notice,
less any interest accrued during the 21 days and paid under clause (b) of this paragraph. If Borrower does not prepay within 30
days from the date Lender received the notice, Borrower must give Lender a new notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.5pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.5pt 0pt 0; text-align: left">Prepayment in full will consist
of payment of the remaining unpaid principal balance together with all accrued and unpaid interest and all other amounts, costs
and expenses for which Borrower is responsible under this Note or any other agreement with Lender pertaining to this loan, and
in no event will Borrower be required to pay any unearned interest. Early payments will not, unless agreed to by Lender in writing,
relieve Borrower of Borrower's obligation to continue to make payments under the payment schedule. Rather, early payments will
reduce the principal balance due. Borrower agrees not to send Lender payments marked &ldquo;paid in full&rdquo;, &ldquo;without
recourse&rdquo;, or similar language. If Borrower sends such a payment, Lender may accept it without losing any of Lender's rights
under this Note, and Borrower will remain obligated to pay any further amount owed to Lender. <B>All written communications concerning
disputed amounts, including any check or other payment instrument that indicates that the payment constitutes &ldquo;payment in
full&rdquo; of the amount owed or that is tendered with other conditions or limitations or as full satisfaction of a disputed amount
must be mailed or delivered to Dominion Bank, 17304 Preston Road, Suite 1100, Dallas, Texas 75252.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.5pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.5pt 0pt 0; text-align: left"><B>NON-RECOURSE. </B> Lender
and SBA shall have no recourse against any individual shareholder, member or partner of Borrower for non-payment of the loan, except
to the extent that such shareholder, member or partner uses the loan proceeds for an unauthorized purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05in 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05in 0pt 0; text-align: left"><B>INTEREST AFTER DEFAULT.
</B> Upon default, including failure to pay upon final maturity, the interest rate on this Note will be increased to a rate per
annum equal to the maximum rate published by SBA in the Federal Register.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-align: left"><B>DEFAULT. </B>
Borrower is in default under this Note if Borrower does not make a payment when due under this Note, or if Borrower: (a)
fails to perform as required by this Note or any other documents relating to the loan; (b) defaults on any other loan with
Lender; (c) does not disclose, or anyone acting on Borrower&rsquo;s behalf does not disclose, any material fact to Lender or
to the SBA; (d) makes, or anyone acting on Borrower&rsquo;s behalf makes, a materially false or misleading representation to
Lender or to the SBA; (e) defaults on any loan or agreement with another creditor, if Lender believes the default may
materially affect Borrower&rsquo;s ability to pay this Note; (f) fails to pay any taxes when due; (g) becomes the subject of
a proceeding under any bankruptcy or insolvency law; (h) has a receiver or liquidator appointed for any part of its business
or property; (i) makes an assignment for the benefit of creditors; (j) has any adverse change in financial condition or
business operation that Lender believes may materially affect Borrower&rsquo;s ability to pay this Note; (k) reorganizes,
merges, consolidates, or otherwise changes ownership or business structure without Lender&rsquo;s prior written consent; (l)
becomes the subject of a civil or criminal action that Lender believes may materially affect Borrower&rsquo;s ability to pay
this Note; or (m) for any reason it is determined that the Borrower is not eligible to obtain the loan under the Program or
otherwise violates any term or requirement of the Program.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.55pt 0pt 6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.55pt 0pt 6pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.55pt 0pt 6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.55pt 0pt 6pt; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid; width: 33%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Loan No </B></FONT></TD>
<TD STYLE="text-align: center; border-bottom: Black 1pt solid; width: 34%"><B>Promissory Note <BR>
</B> <B>(Continued) </B></TD>
<TD STYLE="border-bottom: Black 1pt solid; text-align: right; width: 33%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Page 2 </B></FONT></TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.55pt 0pt 6pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.55pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.55pt 0pt 0; text-align: left"><B>LENDER'S RIGHTS. </B> Upon
default, Lender may declare the entire unpaid principal balance under this Note and all accrued unpaid interest, and all other
amounts, costs and expenses for which Borrower is responsible under this Note or any other agreement with Lender pertaining to
this loan, immediately due, without notice, and then Borrower will pay that amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.55pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.55pt 0pt 0; text-align: left"><B>ATTORNEYS' FEES; EXPENSES.
</B> Lender may hire or pay someone else to help collect this Note if Borrower does not pay, and Borrower will pay Lender&rsquo;s
reasonable attorney fees. Borrower will also pay Lender any other amounts Lender actually incurs, including court costs or other
expenses, arising out of or relating to the collection of this Note, unless otherwise prohibited by applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.5pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.5pt 0pt 0; text-align: left"><B>JURY WAIVER. Lender and
Borrower hereby waive the right to any jury trial in any action, proceeding, or counterclaim brought by either Lender or
Borrower against the other.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.45pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.45pt 0pt 0; text-align: left"><B>GOVERNING LAW. This Note
will be governed by the laws of the State of Texas without regard to its conflicts of law provisions. This Note has been accepted
by Lender in the State of Texas.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.55pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.55pt 0pt 0; text-align: left"><B>SBA PROVISIONS. When the
SBA is the holder, this Note will be interpreted and enforced under Federal law, including SBA regulations. Lender or SBA may use
state or local procedures for filing papers, recording documents, giving notice, foreclosing liens, and other purposes. By using
such procedures, SBA does not waive any Federal immunity from state or local control, penalty, tax, or liability. As to this Note,
Borrower may not claim or assert against SBA any local or state law to deny any obligation, defeat any claim of SBA, or preempt
Federal law.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.45pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.45pt 0pt 0; text-align: left"><B>CHOICE OF VENUE. </B>
If there is a lawsuit, Borrower agrees upon Lender's request to submit to the jurisdiction of the courts of Dallas County, State
of Texas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.5pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.45pt 0pt 0; text-align: left"><B>RIGHT OF SETOFF. </B> To
the extent permitted by applicable law, Lender reserves a right of setoff in all Borrower's accounts with Lender (whether checking,
savings, or some other account). This includes all accounts Borrower holds jointly with someone else and all accounts Borrower
may open in the future. However, this does not include any IRA or Keogh accounts, or any trust accounts for which setoff would
be prohibited by law. Borrower authorizes Lender, to the extent permitted by applicable law, to charge or setoff all sums owing
on the debt against any and all such accounts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.4pt 0pt 6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.45pt 0pt 0; text-align: left"><B>AGREEMENT TO MAKE CHANGES
TO THIS NOTE. </B> Borrower acknowledges that in order to disburse the loan proceeds to Borrower at the earliest possible time,
Lender has prepared this Note based on its current understanding of the Program and the terms thereof. Notwithstanding anything
herein to the contrary, (i) Borrower agrees that this Note shall be interpreted and construed in a manner consistent with the requirements
of the Program, and (ii) Borrower agrees that, if Lender deems it necessary or appropriate to amend this Note in any respect in
order for this Note to comply with the requirements of the Program or for the SBA to guarantee all or any portion of the amounts
outstanding under this Note, Borrower will sign and deliver to Lender any amendment to this Note or a new note in replacement of
this Note, with the terms of any amendment or new Note retroactive to the date of this Note. Borrower will also execute any additional
documentation the Lender requests that Lender believes is consistent with the purposes of the Program.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.35pt 0pt 6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.45pt 0pt 0; text-align: left"><B>ASSIGNMENT; SUCCESSOR INTERESTS.
</B> This Note benefits Lender and its successors and assigns, and binds Borrower and Borrower's heirs, successors, assigns, and
representatives. This Note may be assigned or transferred, in whole or in part, by Lender to any person or entity at any time without
notice to or the consent of Borrower. Borrower may not assign or transfer this Note or any of its rights or obligations hereunder
without the prior written consent of Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 6pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.45pt 0pt 0; text-align: left"><B>GENERAL PROVISIONS. </B>
NOTICE: Under no circumstance (and notwithstanding any other provisions of this Note) shall the interest charged, collected, or
contracted for on this Note exceed the maximum rate permitted by law. The term &ldquo;maximum rate permitted by law&rdquo; as used
in this Note means the maximum rate of interest permitted under federal or other law applicable to the indebtedness evidenced by
this Note. If any part of this Note cannot be enforced, this fact will not affect the rest of the Note. Borrower does not agree
or intend to pay, and Lender does not agree or intend to contract for, charge, collect, take, reserve or receive (collectively
referred to herein as &ldquo;charge or collect&rdquo;), any amount in the nature of interest or in the nature of a fee for this
loan, which would in any way or event (including demand, prepayment or acceleration) cause Lender to charge or collect more for
this loan than the maximum Lender would be permitted to charge or collect by federal law or the laws of the State of Texas, as
applicable. Any such excess interest or unauthorized fee will, instead of anything stated to the contrary, be applied first to
reduce the principal balance of this Note, and when the principal has been paid in full, be refunded to Borrower. The right to
accelerate maturity of sums due under this Note does not include the right to accelerate any interest which has not otherwise accrued
on the date of such acceleration, and Lender does not intend to charge or collect any unearned interest in the event of acceleration.
All sums paid or agreed to be paid to Lender for the use, forbearance or detention of sums due hereunder shall, to the extent permitted
by applicable law, be amortized, prorated, allocated and spread throughout the full term of the loan evidenced by this Note until
payment in full so that the rate or amount of interest on account of the loan evidenced hereby does not exceed the applicable usury
ceiling. Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing them. No term of this
Note may be waived, modified, or amended, except by an instrument in writing signed by Borrower and Lender. To the extent permitted
by law, Borrower waives presentment, demand for payment, notice of dishonor, notice of intent to accelerate the maturity of this
Note, and notice of acceleration of the maturity of this Note. Upon any change in the terms of this Note, and unless otherwise
expressly stated in writing, no party who signs this Note will be released from liability. Borrower agrees that Lender may renew
or extend (repeatedly and for any length of time) this loan and take any other action deemed necessary by Lender without the consent
of or notice to anyone.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.45pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.45pt 0pt 0; text-align: left"><B>COUNTERPARTS; INTEGRATION;
EFFECTIVENESS. </B> This Note and any amendments, waivers, consents, or supplements hereto may be executed in counterparts, each
of which will constitute an original, but all taken together will constitute a single contract. THIS WRITTEN PROMISSORY NOTE REPRESENTS
THE FINAL AGREEMENT BETWEEN BORROWER AND LENDER, AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT
ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN BORROWER AND LENDER.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.4pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.4pt 0pt 0; text-align: left"><B>ELECTRONIC EXECUTION. </B>
The words &ldquo;execution,&rdquo; &ldquo;signed,&rdquo; &ldquo;signature,&rdquo; and words of similar import in the Note will
be deemed to include electronic or digital signatures or the keeping of records in electronic form, each of which will be of the
same effect, validity and enforceability as manually executed signatures or a paper-based record-keeping system, as the case may
be, to the extent and as provided for under applicable law, including the Electronic Signatures in Global and National Commerce
Act of 2000 (15 U.S.C.A. &sect; 7001 et seq.).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 0; text-align: left"><B>PRIOR TO SIGNING THIS NOTE,
BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE. BORROWER AGREES TO THE TERMS OF THE NOTE.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="border-bottom: Black 1pt solid; width: 33%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Loan No </B></FONT></TD>
<TD STYLE="text-align: center; border-bottom: Black 1pt solid; width: 34%"><B>Promissory Note <BR>
</B> <B>(Continued) </B></TD>
<TD STYLE="border-bottom: Black 1pt solid; text-align: right; width: 33%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Page  </B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0"><B>BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 169.75pt 0pt 23pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 169.75pt 0pt 0"><B>BORROWER:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif">Dawson Geophysical Company</TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 2%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; width: 48%">/s/ James Brata</TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    </TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">Name:&nbsp;&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif"> James Brata</TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">Title:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif">Secretary</TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>tm2016322d1_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
<HTML>
<HEAD>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.2</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">April 15, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">James K. Brata</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">508 West Wall, Suite&nbsp;800</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Midland, Texas 79701</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mr.&nbsp;Brata:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Reference is made to that certain Employment Agreement, as amended
from time to time, between you (the &#8220;<B>Executive</B>&#8221; or &#8220;<B>you</B>&#8221;) and Dawson Geophysical Company,
a Texas corporation (formerly known as TGC Industries,&nbsp;Inc.) (the &#8220;<B>Company</B>&#8221;), dated as of October&nbsp;8,
2014 and with an Effective Date of February&nbsp;11, 2015 (the &#8220;<B>Employment Agreement</B>&#8221;).&nbsp; Capitalized terms
not otherwise defined herein shall have the meanings ascribed thereto in the Employment Agreement, as amended hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This letter agreement (this &#8220;<B>Letter Agreement</B>&#8221;)
sets forth the agreement between the Executive and the Company (collectively, the &#8220;<B>Parties</B>&#8221;) concerning the
amendment, effective as of April 15, 2020, of certain provisions of the Employment Agreement as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><B>(1)</B></TD><TD>The Parties agree that, subject to the other provisions of the Employment Agreement, (i) the current Term of the Employment
Agreement extends until the close of business on February&nbsp;11, 2023 (the &#8220;<B>Current Term</B>&#8221;), and (ii) such
Term shall not be renewed or extended beyond the Current Term, it being understood that, to the extent applicable, the Executive&#8217;s
employment with the Company shall not automatically expire at the close of the Current Term.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><B>(2)</B></TD><TD>The Parties agree that, for all times throughout the Adjustment Period (as such term is defined below), the Executive&#8217;s
Base Salary shall be (i) reduced from an annualized rate of $350,000 (the &#8220;<B>Original Salary Rate</B>&#8221;) to an annualized
rate of $278,750 (the &#8220;<B>Modified Salary Rate</B>&#8221;), and (ii) paid to the extent earned and payable in accordance
with the Company&#8217;s usual payroll practices (and subject to annual review by the Company and adjustment in the Board&#8217;s
sole discretion).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><B>(3)</B></TD><TD>The Parties agree that, subject to the other provisions of the Employment Agreement, in the event the Executive shall, during
the Adjustment Period, incur a termination of employment and become entitled to the severance payments described in clause (i)
of Section 6(b)(ii) or Section 6(b)(iii) of the Employment Agreement (a &#8220;<B>Qualifying Termination</B>&#8221;) (i) the &#8220;then-current
Base Salary&#8221; that is used for determining the severance benefit under such Sections shall be based on the Original Salary
Rate, and (ii) the &#8220;applicable Term&#8221; that is used as the period during which such severance benefit is payable shall
be based on the remainder of the Current Term or twelve (12) months, whichever is longer.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><B>(4)</B></TD><TD>The Parties agree that, subject to the Executive&#8217;s continuous employment until the earlier of the close of the Current
Term or a Qualifying Termination, a retention payment not to exceed $205,137 (which is intended to represent the aggregate reductions
to the Executive&#8217;s Base Salary during the Adjustment Period due to the payment thereof at the Modified Salary Rate), less
all applicable tax withholdings and deductions, shall be paid to the Executive in a lump sum within thirty (30) days following
such close of the Current Term or Qualifying Termination, as the case may be, it being understood that such payment may be reduced
in the good faith discretion of the Board to account for, as applicable, the Adjustment Period being truncated, the timing of a
Qualifying Termination within the Adjustment Period or any similar matter.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><B>(5)</B></TD><TD>For purposes of this Letter Agreement, the Parties agree that the &#8220;<B>Adjustment Period</B>&#8221; shall commence on
March 30, 2020 and shall end at the close of the Current Term, it being understood that the Adjustment Period may be truncated
in the Board&#8217;s sole discretion. In determining whether the Adjustment Period shall be truncated, the Board shall consider
whether sufficient improvements have occurred within the Company&#8217;s industry, or with respect to the Company itself, to otherwise
support the truncation thereof. Following the close of the Adjustment Period, the Executive&#8217;s Base Salary shall be (i) returned
to the Original Salary Rate (or such higher rate as may be determined by the Board in its discretion at such time), and (ii) paid
to the extent earned and payable in accordance with the Company&#8217;s usual payroll practices (and subject to annual review by
the Company and adjustment in the Board&#8217;s sole discretion)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><B>(6)</B></TD><TD>For purposes of paragraph (2) above, the Parties (i) acknowledge that the April 15, 2020 effective date of this Letter Agreement
occurs after the March 30, 2020 commencement date of the Adjustment Period, and (ii) agree that (x) the reduction of the Executive&#8217;s
Base Salary to the Modified Salary Rate is retroactive to March 30, 2020, and (y) to the extent necessary, further adjustments
shall be made, as appropriate, to the remaining payments of the Executive&#8217;s Base Salary at the Modified Salary Rate during
calendar year 2020 in the event the Executive&#8217;s Base Salary was paid at the Original Salary Rate during the period from and
after March 30, 2020 and ending on April 15, 2020.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><B>(7)</B></TD><TD>The Executive agrees that the terms of this Letter Agreement and its effects on the Executive&#8217;s compensation and benefits
(including, but not limited to, any bonus or severance compensation and benefits) and/or the Company&#8217;s compliance with the
Employment Agreement do not constitute Good Reason under the Employment Agreement and that the Executive waives any right to assert
that the terms of this Letter Agreement constitute Good Reason for any purpose under the Employment Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This Letter Agreement embodies the entire agreement between
the Parties with respect to the amendment of the Employment Agreement.&nbsp; In the event of any conflict or inconsistency between
the provisions of the Employment Agreement and this Letter Agreement, the provisions of this Letter Agreement shall prevail. Except
as specifically modified and amended by this Letter Agreement, all of the terms, provisions, requirements and specifications contained
in the Employment Agreement remain in full force and effect.&nbsp; This Letter Agreement may be executed in counterparts (including
those transmitted by facsimile), each of which shall be deemed an original and all of which taken together shall constitute one
and the same document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THE EXECUTIVE ACKNOWLEDGES THAT HE HAS CAREFULLY READ THIS
LETTER AGREEMENT AND THE EMPLOYMENT AGREEMENT, HAS HAD THE OPPORTUNITY TO CONSULT WITH COUNSEL OF THE EXECUTIVE&#8217;S CHOOSING
TO THE EXTENT THE EXECUTIVE DESIRES LEGAL ADVICE REGARDING THE SAME, AND UNDERSTANDS AND AGREES TO ALL OF THE PROVISIONS HEREIN
(AND THE PROVISIONS OF THE EMPLOYMENT AGREEMENT AS AMENDED BY THIS LETTER AGREEMENT).</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THIS LETTER AGREEMENT SHALL BE INTERPRETED AND ENFORCED
IN CONFORMITY WITH THE LAW OF THE STATE OF TEXAS, WITHOUT REGARD TO ANY CONFLICTS OF LAW PROVISION THEREOF THAT WOULD RESULT
IN THE APPLICATION OF THE LAWS OF ANY OTHER JURISDICTION.&nbsp; VENUE OF ANY LEGAL ACTION ARISING FROM OR RELATING TO THIS
LETTER AGREEMENT SHALL BE IN MIDLAND COUNTY, TEXAS.&nbsp; FOR THE AVOIDANCE OF DOUBT, THE PROVISIONS OF SECTION&nbsp;11 OF
THE EMPLOYMENT AGREEMENT SHALL APPLY TO THIS LETTER AGREEMENT IN ALL RESPECTS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>[Signature Page to Follow]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Please sign in the space provided below to evidence your agreement
with the terms of this Letter Agreement and acknowledgment that your obligations hereunder are valid, binding, and enforceable
obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif">DAWSON GEOPHYSICAL COMPANY</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 2%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 48%">/s/Stephen C. Jumper</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">Name: Stephen C. Jumper</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">Title: President and Chief Executive Officer</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt"><B>AGREED TO AND ACKNOWLEDGED:</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif"></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt"><B>THE EXECUTIVE</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif"></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/James K. Brata</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">Name: James K. Brata</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Title: Chief Financial Officer, Executive Vice President, Secretary and Treasurer</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>tm2016322d1_ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
<HTML>
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<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: right; margin-top: 0; margin-bottom: 0"><B>Exhibit 10.3</B></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">April 15, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Stephen C. Jumper</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">508 West Wall, Suite&nbsp;800</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Midland, Texas 79701</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mr.&nbsp;Jumper:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Reference is made to that certain Employment Agreement, as amended
from time to time, between you (the &ldquo;<B>Executive</B>&rdquo; or &ldquo;<B>you</B>&rdquo;) and Dawson Geophysical Company,
a Texas corporation (formerly known as TGC Industries,&nbsp;Inc.) (the &ldquo;<B>Company</B>&rdquo;), dated as of October&nbsp;8,
2014 and with an Effective Date of February&nbsp;11, 2015 (the &ldquo;<B>Employment Agreement</B>&rdquo;).&nbsp; Capitalized terms
not otherwise defined herein shall have the meanings ascribed thereto in the Employment Agreement, as amended hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This letter agreement (this &ldquo;<B>Letter Agreement</B>&rdquo;)
sets forth the agreement between the Executive and the Company (collectively, the &ldquo;<B>Parties</B>&rdquo;) concerning the
amendment, effective as of April 15, 2020, of certain provisions of the Employment Agreement as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><B>(1)</B></TD><TD>The Parties agree that, subject to the other provisions of the Employment Agreement, (i) the current Term of the Employment
Agreement extends until the close of business on February&nbsp;11, 2023 (the &ldquo;<B>Current Term</B>&rdquo;), and (ii) such
Term shall not be renewed or extended beyond the Current Term, it being understood that, to the extent applicable, the Executive&rsquo;s
employment with the Company shall not automatically expire at the close of the Current Term.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><B>(2)</B></TD><TD>The Parties agree that, for all times throughout the Adjustment Period (as such term is defined below), the Executive&rsquo;s
Base Salary shall be (i) reduced from an annualized rate of $600,000 (the &ldquo;<B>Original Salary Rate</B>&rdquo;) to an annualized
rate of $466,250 (the &ldquo;<B>Modified Salary Rate</B>&rdquo;), and (ii) paid to the extent earned and payable in accordance
with the Company&rsquo;s usual payroll practices (and subject to annual review by the Company and adjustment in the Board&rsquo;s
sole discretion).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><B>(3)</B></TD><TD>The Parties agree that, subject to the other provisions of the Employment Agreement, in the event the Executive shall, during
the Adjustment Period, incur a termination of employment and become entitled to the severance payments described in clause (i)
of Section 6(b)(ii) or Section 6(b)(iii) of the Employment Agreement (a &ldquo;<B>Qualifying Termination</B>&rdquo;) (i) the &ldquo;then-current
Base Salary&rdquo; that is used for determining the severance benefit under such Sections shall be based on the Original Salary
Rate, and (ii) the &ldquo;applicable Term&rdquo; that is used as the period during which such severance benefit is payable shall
be based on the remainder of the Current Term or twelve (12) months, whichever is longer.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><B>(4)</B></TD><TD>The Parties agree that, subject to the Executive&rsquo;s continuous employment until the earlier of the close of the Current
Term or a Qualifying Termination, a retention payment not to exceed $385,082 (which is intended to represent the aggregate reductions
to the Executive&rsquo;s Base Salary during the Adjustment Period due to the payment thereof at the Modified Salary Rate), less
all applicable tax withholdings and deductions, shall be paid to the Executive in a lump sum within thirty (30) days following
such close of the Current Term or Qualifying Termination, as the case may be, it being understood that such payment may be reduced
in the good faith discretion of the Board to account for, as applicable, the Adjustment Period being truncated, the timing of a
Qualifying Termination within the Adjustment Period or any similar matter.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><B>(5)</B></TD><TD>For purposes of this Letter Agreement, the Parties agree that the &ldquo;<B>Adjustment Period</B>&rdquo; shall commence on
March 30, 2020 and shall end at the close of the Current Term, it being understood that the Adjustment Period may be truncated
in the Board&rsquo;s sole discretion. In determining whether the Adjustment Period shall be truncated, the Board shall consider
whether sufficient improvements have occurred within the Company&rsquo;s industry, or with respect to the Company itself, to otherwise
support the truncation thereof. Following the close of the Adjustment Period, the Executive&rsquo;s Base Salary shall be (i) returned
to the Original Salary Rate (or such higher rate as may be determined by the Board in its discretion at such time), and (ii) paid
to the extent earned and payable in accordance with the Company&rsquo;s usual payroll practices (and subject to annual review by
the Company and adjustment in the Board&rsquo;s sole discretion)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><B>(6)</B></TD><TD>For purposes of paragraph (2) above, the Parties (i) acknowledge that the April 15, 2020 effective date of this Letter Agreement
occurs after the March 30, 2020 commencement date of the Adjustment Period, and (ii) agree that (x) the reduction of the Executive&rsquo;s
Base Salary to the Modified Salary Rate is retroactive to March 30, 2020, and (y) to the extent necessary, further adjustments
shall be made, as appropriate, to the remaining payments of the Executive&rsquo;s Base Salary at the Modified Salary Rate during
calendar year 2020 in the event the Executive&rsquo;s Base Salary was paid at the Original Salary Rate during the period from and
after March 30, 2020 and ending on April 15, 2020.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><B>(7)</B></TD><TD>The Executive agrees that the terms of this Letter Agreement and its effects on the Executive&rsquo;s compensation and benefits
(including, but not limited to, any bonus or severance compensation and benefits) and/or the Company&rsquo;s compliance with the
Employment Agreement do not constitute Good Reason under the Employment Agreement and that the Executive waives any right to assert
that the terms of this Letter Agreement constitute Good Reason for any purpose under the Employment Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This Letter Agreement embodies the entire agreement between
the Parties with respect to the amendment of the Employment Agreement.&nbsp; In the event of any conflict or inconsistency between
the provisions of the Employment Agreement and this Letter Agreement, the provisions of this Letter Agreement shall prevail. Except
as specifically modified and amended by this Letter Agreement, all of the terms, provisions, requirements and specifications contained
in the Employment Agreement remain in full force and effect.&nbsp; This Letter Agreement may be executed in counterparts (including
those transmitted by facsimile), each of which shall be deemed an original and all of which taken together shall constitute one
and the same document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THE EXECUTIVE ACKNOWLEDGES THAT HE HAS CAREFULLY READ THIS
LETTER AGREEMENT AND THE EMPLOYMENT AGREEMENT, HAS HAD THE OPPORTUNITY TO CONSULT WITH COUNSEL OF THE EXECUTIVE&rsquo;S CHOOSING
TO THE EXTENT THE EXECUTIVE DESIRES LEGAL ADVICE REGARDING THE SAME, AND UNDERSTANDS AND AGREES TO ALL OF THE PROVISIONS HEREIN
(AND THE PROVISIONS OF THE EMPLOYMENT AGREEMENT AS AMENDED BY THIS LETTER AGREEMENT).</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THIS LETTER AGREEMENT SHALL BE INTERPRETED AND ENFORCED
IN CONFORMITY WITH THE LAW OF THE STATE OF TEXAS, WITHOUT REGARD TO ANY CONFLICTS OF LAW PROVISION THEREOF THAT WOULD RESULT IN
THE APPLICATION OF THE LAWS OF ANY OTHER JURISDICTION.&nbsp; VENUE OF ANY LEGAL ACTION ARISING FROM OR RELATING TO THIS LETTER
AGREEMENT SHALL BE IN MIDLAND COUNTY, TEXAS.&nbsp; FOR THE AVOIDANCE OF DOUBT, THE PROVISIONS OF SECTION&nbsp;11 OF THE EMPLOYMENT
AGREEMENT SHALL APPLY TO THIS LETTER AGREEMENT IN ALL RESPECTS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><I>[Signature Page to Follow]</I></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Please sign in the space provided below to evidence your agreement
with the terms of this Letter Agreement and acknowledgment that your obligations hereunder are valid, binding, and enforceable
obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DAWSON
    GEOPHYSICAL COMPANY</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 45%">/s/ James K. Brata</TD></TR>
     <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: </FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">James K. Brata</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: </FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Financial Officer, Executive Vice President, Secretary
and Treasurer</FONT></TD></TR>
</TABLE>


<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">AGREED
    TO AND ACKNOWLEDGED:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">THE
    EXECUTIVE</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
Stephen C. Jumper</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:
    Stephen C. Jumper</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:
    President and Chief Executive Officer</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>tm2016322d1_ex10-4.htm
<DESCRIPTION>EXHIBIT 10.4
<TEXT>
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<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: right; margin-top: 0; margin-bottom: 0"><B>Exhibit 10.4</B></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">April 15, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">James W. Thomas</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">508 West Wall, Suite&nbsp;800</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Midland, Texas 79701</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mr.&nbsp;Thomas:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Reference is made to that certain Employment Agreement, as amended
from time to time, between you (the &#8220;<B>Executive</B>&#8221; or &#8220;<B>you</B>&#8221;) and Dawson Geophysical Company,
a Texas corporation (formerly known as TGC Industries,&nbsp;Inc.) (the &#8220;<B>Company</B>&#8221;), dated as of October&nbsp;8,
2014 and with an Effective Date of February&nbsp;11, 2015 (the &#8220;<B>Employment Agreement</B>&#8221;).&nbsp; Capitalized terms
not otherwise defined herein shall have the meanings ascribed thereto in the Employment Agreement, as amended hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This letter agreement (this &#8220;<B>Letter Agreement</B>&#8221;)
sets forth the agreement between the Executive and the Company (collectively, the &#8220;<B>Parties</B>&#8221;) concerning the
amendment, effective as of April 15, 2020, of certain provisions of the Employment Agreement as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><B>(1)</B></TD><TD>The Parties agree that, subject to the other provisions of the Employment Agreement, (i) the current Term of the Employment
Agreement extends until the close of business on February&nbsp;11, 2023 (the &#8220;<B>Current Term</B>&#8221;), and (ii) such
Term shall not be renewed or extended beyond the Current Term.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><B>(2)</B></TD><TD>The Parties agree that, for all times throughout the Adjustment Period (as such term is defined below), the Executive&#8217;s
Base Salary shall be (i) reduced from an annualized rate of $264,500 (the &#8220;<B>Original Salary Rate</B>&#8221;) to an annualized
rate of $214,625 (the &#8220;<B>Modified Salary Rate</B>&#8221;), and (ii) paid to the extent earned and payable in accordance
with the Company&#8217;s usual payroll practices (and subject to annual review by the Company and adjustment in the Board&#8217;s
sole discretion).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><B>(3)</B></TD><TD>The Parties agree that, subject to the other provisions of the Employment Agreement, in the event the Executive shall, during
the Adjustment Period, incur a termination of employment and become entitled to the severance payments described in clause (i)
of Section 6(b)(ii) or Section 6(b)(iii) of the Employment Agreement (a &#8220;<B>Qualifying Termination</B>&#8221;) (i) the &#8220;then-current
Base Salary&#8221; that is used for determining the severance benefit under such Sections shall be based on the Original Salary
Rate, and (ii) the &#8220;applicable Term&#8221; that is used as the period during which such severance benefit is payable shall
be based on the remainder of the Current Term or twelve (12) months, whichever is longer.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><B>(4)</B></TD><TD>The Parties agree that, subject to the Executive&#8217;s continuous employment until the earlier of the close of the Current
Term or a Qualifying Termination, a retention payment not to exceed $143,596 (which is intended to represent the aggregate reductions
to the Executive&#8217;s Base Salary during the Adjustment Period due to the payment thereof at the Modified Salary Rate), less
all applicable tax withholdings and deductions, shall be paid to the Executive in a lump sum within thirty (30) days following
such close of the Current Term or Qualifying Termination, as the case may be, it being understood that such payment may be reduced
in the good faith discretion of the Board to account for, as applicable, the Adjustment Period being truncated, the timing of a
Qualifying Termination within the Adjustment Period or any similar matter.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><B>(5)</B></TD><TD>For purposes of this Letter Agreement, the Parties agree that the &#8220;<B>Adjustment Period</B>&#8221; shall commence on
March 30, 2020 and shall end at the close of the Current Term, it being understood that the Adjustment Period may be truncated
in the Board&#8217;s sole discretion. In determining whether the Adjustment Period shall be truncated, the Board shall consider
whether sufficient improvements have occurred within the Company&#8217;s industry, or with respect to the Company itself, to otherwise
support the truncation thereof. Following the close of the Adjustment Period, the Executive&#8217;s Base Salary shall be (i) returned
to the Original Salary Rate (or such higher rate as may be determined by the Board in its discretion at such time), and (ii) paid
to the extent earned and payable in accordance with the Company&#8217;s usual payroll practices (and subject to annual review by
the Company and adjustment in the Board&#8217;s sole discretion)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><B>(6)</B></TD><TD>For purposes of paragraph (2) above, the Parties (i) acknowledge that the April 15, 2020 effective date of this Letter Agreement
occurs after the March 30, 2020 commencement date of the Adjustment Period, and (ii) agree that (x) the reduction of the Executive&#8217;s
Base Salary to the Modified Salary Rate is retroactive to March 30, 2020, and (y) to the extent necessary, further adjustments
shall be made, as appropriate, to the remaining payments of the Executive&#8217;s Base Salary at the Modified Salary Rate during
calendar year 2020 in the event the Executive&#8217;s Base Salary was paid at the Original Salary Rate during the period from and
after March 30, 2020 and ending on April 15, 2020.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><B>(7)</B></TD><TD>The Executive agrees that the terms of this Letter Agreement and its effects on the Executive&#8217;s compensation and benefits
(including, but not limited to, any bonus or severance compensation and benefits) and/or the Company&#8217;s compliance with the
Employment Agreement do not constitute Good Reason under the Employment Agreement and that the Executive waives any right to assert
that the terms of this Letter Agreement constitute Good Reason for any purpose under the Employment Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This Letter Agreement embodies the entire agreement between
the Parties with respect to the amendment of the Employment Agreement.&nbsp; In the event of any conflict or inconsistency between
the provisions of the Employment Agreement and this Letter Agreement, the provisions of this Letter Agreement shall prevail. Except
as specifically modified and amended by this Letter Agreement, all of the terms, provisions, requirements and specifications contained
in the Employment Agreement remain in full force and effect.&nbsp; This Letter Agreement may be executed in counterparts (including
those transmitted by facsimile), each of which shall be deemed an original and all of which taken together shall constitute one
and the same document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THE EXECUTIVE ACKNOWLEDGES THAT HE HAS CAREFULLY READ THIS
LETTER AGREEMENT AND THE EMPLOYMENT AGREEMENT, HAS HAD THE OPPORTUNITY TO CONSULT WITH COUNSEL OF THE EXECUTIVE&#8217;S CHOOSING
TO THE EXTENT THE EXECUTIVE DESIRES LEGAL ADVICE REGARDING THE SAME, AND UNDERSTANDS AND AGREES TO ALL OF THE PROVISIONS HEREIN
(AND THE PROVISIONS OF THE EMPLOYMENT AGREEMENT AS AMENDED BY THIS LETTER AGREEMENT).</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THIS LETTER AGREEMENT SHALL BE INTERPRETED AND ENFORCED
IN CONFORMITY WITH THE LAW OF THE STATE OF TEXAS, WITHOUT REGARD TO ANY CONFLICTS OF LAW PROVISION THEREOF THAT WOULD RESULT IN
THE APPLICATION OF THE LAWS OF ANY OTHER JURISDICTION.&nbsp; VENUE OF ANY LEGAL ACTION ARISING FROM OR RELATING TO THIS LETTER
AGREEMENT SHALL BE IN MIDLAND COUNTY, TEXAS.&nbsp; FOR THE AVOIDANCE OF DOUBT, THE PROVISIONS OF SECTION&nbsp;11 OF THE EMPLOYMENT
AGREEMENT SHALL APPLY TO THIS LETTER AGREEMENT IN ALL RESPECTS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><I>[Signature Page to Follow]</I></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Please sign in the space provided below to evidence your agreement
with the terms of this Letter Agreement and acknowledgment that your obligations hereunder are valid, binding, and enforceable
obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DAWSON
    GEOPHYSICAL COMPANY</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%">/s/ Stephen C. Jumper&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:
    Stephen C. Jumper</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:
    President and Chief Executive Officer</FONT></TD></TR>
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<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">AGREED
    TO AND ACKNOWLEDGED:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">THE
    EXECUTIVE</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
James W. Thomas</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:
    James W. Thomas</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:
    Executive Vice President</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
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<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>tm2016322d1_ex10-5.htm
<DESCRIPTION>EXHIBIT 10.5
<TEXT>
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<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: right; margin-top: 0; margin-bottom: 0"><B>Exhibit 10.5</B></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">April 15, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">C. Ray Tobias</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">508 West Wall, Suite&nbsp;800</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Midland, Texas 79701</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mr.&nbsp;Tobias:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Reference is made to that certain Employment Agreement, as amended
from time to time, between you (the &#8220;<B>Executive</B>&#8221; or &#8220;<B>you</B>&#8221;) and Dawson Geophysical Company,
a Texas corporation (formerly known as TGC Industries,&nbsp;Inc.) (the &#8220;<B>Company</B>&#8221;), dated as of October&nbsp;8,
2014 and with an Effective Date of February&nbsp;11, 2015 (the &#8220;<B>Employment Agreement</B>&#8221;).&nbsp; Capitalized terms
not otherwise defined herein shall have the meanings ascribed thereto in the Employment Agreement, as amended hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This letter agreement (this &#8220;<B>Letter Agreement</B>&#8221;)
sets forth the agreement between the Executive and the Company (collectively, the &#8220;<B>Parties</B>&#8221;) concerning the
amendment, effective as of April 15, 2020, of certain provisions of the Employment Agreement as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><B>(1)</B></TD><TD>The Parties agree that, subject to the other provisions of the Employment Agreement, (i) the current Term of the Employment
Agreement extends until the close of business on February&nbsp;11, 2023 (the &#8220;<B>Current Term</B>&#8221;), and (ii) such
Term shall not be renewed or extended beyond the Current Term, it being understood that, to the extent applicable, the Executive&#8217;s
employment with the Company shall not automatically expire at the close of the Current Term.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><B>(2)</B></TD><TD>The Parties agree that, for all times throughout the Adjustment Period (as such term is defined below), the Executive&#8217;s
Base Salary shall be (i) reduced from an annualized rate of $400,000 (the &#8220;<B>Original Salary Rate</B>&#8221;) to an annualized
rate of $316,250 (the &#8220;<B>Modified Salary Rate</B>&#8221;), and (ii) paid to the extent earned and payable in accordance
with the Company&#8217;s usual payroll practices (and subject to annual review by the Company and adjustment in the Board&#8217;s
sole discretion).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><B>(3)</B></TD><TD>The Parties agree that, subject to the other provisions of the Employment Agreement, in the event the Executive shall, during
the Adjustment Period, incur a termination of employment and become entitled to the severance payments described in clause (i)
of Section 6(b)(ii) or Section 6(b)(iii) of the Employment Agreement (a &#8220;<B>Qualifying Termination</B>&#8221;) (i) the &#8220;then-current
Base Salary&#8221; that is used for determining the severance benefit under such Sections shall be based on the Original Salary
Rate, and (ii) the &#8220;applicable Term&#8221; that is used as the period during which such severance benefit is payable shall
be based on the remainder of the Current Term or twelve (12) months, whichever is longer.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><B>(4)</B></TD><TD>The Parties agree that, subject to the Executive&#8217;s continuous employment until the earlier of the close of the Current
Term or a Qualifying Termination, a retention payment of not to exceed $241,126 (which is intended to represent the aggregate reductions
to the Executive&#8217;s Base Salary during the Adjustment Period due to the payment thereof at the Modified Salary Rate), less
all applicable tax withholdings and deductions, shall be paid to the Executive in a lump sum within thirty (30) days following
such close of the Current Term or Qualifying Termination, as the case may be, it being understood that such payment may be reduced
in the good faith discretion of the Board to account for, as applicable, the Adjustment Period being truncated, the timing of a
Qualifying Termination within the Adjustment Period or any similar matter.</TD></TR></TABLE>

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<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><B>(5)</B></TD><TD>For purposes of this Letter Agreement, the Parties agree that the &#8220;<B>Adjustment Period</B>&#8221; shall commence on
March 30, 2020 and shall end at the close of the Current Term, it being understood that the Adjustment Period may be truncated
in the Board&#8217;s sole discretion. In determining whether the Adjustment Period shall be truncated, the Board shall consider
whether sufficient improvements have occurred within the Company&#8217;s industry, or with respect to the Company itself, to otherwise
support the truncation thereof. Following the close of the Adjustment Period, the Executive&#8217;s Base Salary shall be (i) returned
to the Original Salary Rate (or such higher rate as may be determined by the Board in its discretion at such time), and (ii) paid
to the extent earned and payable in accordance with the Company&#8217;s usual payroll practices (and subject to annual review by
the Company and adjustment in the Board&#8217;s sole discretion)</TD></TR></TABLE>

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<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><B>(6)</B></TD><TD>For purposes of paragraph (2) above, the Parties (i) acknowledge that the April 15, 2020 effective date of this Letter Agreement
occurs after the March 30, 2020 commencement date of the Adjustment Period, and (ii) agree that (x) the reduction of the Executive&#8217;s
Base Salary to the Modified Salary Rate is retroactive to March 30, 2020, and (y) to the extent necessary, further adjustments
shall be made, as appropriate, to the remaining payments of the Executive&#8217;s Base Salary at the Modified Salary Rate during
calendar year 2020 in the event the Executive&#8217;s Base Salary was paid at the Original Salary Rate during the period from and
after March 30, 2020 and ending on April 15, 2020.</TD></TR></TABLE>

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<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.25in"><B>(7)</B></TD><TD>The Executive agrees that the terms of this Letter Agreement and its effects on the Executive&#8217;s compensation and benefits
(including, but not limited to, any bonus or severance compensation and benefits) and/or the Company&#8217;s compliance with the
Employment Agreement do not constitute Good Reason under the Employment Agreement and that the Executive waives any right to assert
that the terms of this Letter Agreement constitute Good Reason for any purpose under the Employment Agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This Letter Agreement embodies the entire agreement between
the Parties with respect to the amendment of the Employment Agreement.&nbsp; In the event of any conflict or inconsistency between
the provisions of the Employment Agreement and this Letter Agreement, the provisions of this Letter Agreement shall prevail. Except
as specifically modified and amended by this Letter Agreement, all of the terms, provisions, requirements and specifications contained
in the Employment Agreement remain in full force and effect.&nbsp; This Letter Agreement may be executed in counterparts (including
those transmitted by facsimile), each of which shall be deemed an original and all of which taken together shall constitute one
and the same document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THE EXECUTIVE ACKNOWLEDGES THAT HE HAS CAREFULLY READ THIS
LETTER AGREEMENT AND THE EMPLOYMENT AGREEMENT, HAS HAD THE OPPORTUNITY TO CONSULT WITH COUNSEL OF THE EXECUTIVE&#8217;S CHOOSING
TO THE EXTENT THE EXECUTIVE DESIRES LEGAL ADVICE REGARDING THE SAME, AND UNDERSTANDS AND AGREES TO ALL OF THE PROVISIONS HEREIN
(AND THE PROVISIONS OF THE EMPLOYMENT AGREEMENT AS AMENDED BY THIS LETTER AGREEMENT).</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THIS LETTER AGREEMENT SHALL BE INTERPRETED AND ENFORCED
IN CONFORMITY WITH THE LAW OF THE STATE OF TEXAS, WITHOUT REGARD TO ANY CONFLICTS OF LAW PROVISION THEREOF THAT WOULD RESULT IN
THE APPLICATION OF THE LAWS OF ANY OTHER JURISDICTION.&nbsp; VENUE OF ANY LEGAL ACTION ARISING FROM OR RELATING TO THIS LETTER
AGREEMENT SHALL BE IN MIDLAND COUNTY, TEXAS.&nbsp; FOR THE AVOIDANCE OF DOUBT, THE PROVISIONS OF SECTION&nbsp;11 OF THE EMPLOYMENT
AGREEMENT SHALL APPLY TO THIS LETTER AGREEMENT IN ALL RESPECTS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><I>[Signature Page to Follow]</I></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Please sign in the space provided below to evidence your agreement
with the terms of this Letter Agreement and acknowledgment that your obligations hereunder are valid, binding, and enforceable
obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DAWSON
    GEOPHYSICAL COMPANY</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 49%">/s/ Stephen C. Jumper&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:
    Stephen C. Jumper</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:
    President and Chief Executive Officer</FONT></TD></TR>
</TABLE>


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    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">AGREED
    TO AND ACKNOWLEDGED:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">THE
    EXECUTIVE</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
C. Ray Tobias</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:
    C. Ray Tobias</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:
    Executive Vice President</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>


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