EXHIBIT 10.1
WAIVER
I, Xxxxxxx X. Xxxxxxxx, hereby agree that my loan in the amount of $2,881,915
made pursuant to Section 9.[c] Reimbursement of Business and Other Expenses:
Perquisites. and Schedule 9.[c] of my Employment Agreement effective the 1st day
of October, 1996, as amended, by an between Nabors Industries, Inc., a Delaware
Company and Xxxxxxx X. Xxxxxxxx, [the "Employment Agreement"] which is currently
due on or before September 30, 2006, shall not be further extended,
notwithstanding the provisions of my Employment Agreement.
/s/ Xxxxxxx X. Xxxxxxxx
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Xxxxxxx X. Xxxxxxxx
Dated: September 27, 2002
