On July 27, 2016, each of Gregory R. Monahan, Eric S. Rosenfeld, David D. Sgro and Brent Whiteley resigned from the Board of the Directors of SAExploration Holdings, Inc., effective upon acceptance of such resignations by the remaining directors, which occurred on July 27, 2016. Immediately following such resignation, the remaining directors of the Company's Board of Directors filled such vacancies through the immediately effective appointment of L. Melvin Cooper, Michael Kass and Jacob Mercer as directors (the New Directors) of the Company. L. Melvin Cooper currently serves as the Senior Vice President and Chief Financial Officer of Forbes Energy Services Ltd. Prior to joining Forbes in 2007, Mr. Cooper served in financial or operating roles of various companies involved oilfield site preparation, serving new home builders, supply chain management, and other industries. Michael Kass is a Senior Research Analyst at BlueMountain Capital concentrating on stressed and distressed credit across multiple industry sectors. Previously, Mr. Kass was a co-founder and Head of Research at 3-Sigma Value Management. Prior to 3-Sigma, Mr. Kass served for several years as a Vice President in Lehman's Global Restructuring Group, where he advised debtors, financial sponsors and GSEs in bankruptcy proceedings in sectors including aviation, media and natural resources. Jacob Mercer is a Senior Portfolio Manager at Whitebox Advisors. Prior to joining Whitebox, Mr. Mercer worked for Xcel Energy as Assistant Treasurer and Managing Director.