EMPLOYMENT AGREEMENTEmployment Agreement • September 26th, 2017 • Parker Drilling Co /De/ • Drilling oil & gas wells • Texas
THIS EMPLOYMENT AGREEMENT (the “Agreement”) is made and entered into as of September 21, 2017 to be effective as of the Effective Date, by and between PARKER DRILLING COMPANY, a Delaware corporation, PARKER DRILLING MANAGEMENT SERVICES, LTD., and MICHAEL W. SUMRULD (“Executive”). For the purposes of this Agreement, Parker Drilling Company and Parker Drilling Management Services, Ltd., together with any Successor Entity, shall be collectively referred to as the “Company”. The Company and Executive may sometimes hereafter be referred to singularly as a “Party” or collectively as the “Parties.” Defined terms shall have the meanings ascribed to them in Appendix A of the Agreement.
RESTRICTED STOCK UNIT INCENTIVE AGREEMENTRestricted Stock Unit Incentive Agreement • September 26th, 2017 • Parker Drilling Co /De/ • Drilling oil & gas wells • Texas
THIS RESTRICTED STOCK UNIT INCENTIVE AGREEMENT (this “Agreement”) is made and entered into by and between Parker Drilling Company, a Delaware corporation (the “Company”), and Michael W. Sumruld, an individual and future employee of the Company (“Grantee”), as of the first day of October, 2017 (the “Grant Date”). The Restricted Stock Units granted to Grantee pursuant to this Agreement shall not be granted under the Parker Drilling Company 2010 Long-Term Incentive Plan, as Amended and Restated, as it may be further amended from time to time thereafter (the “Plan”), but are subject to the terms and conditions of the Plan, except for Section 7.1 of the Plan. The Plan is hereby incorporated herein in its entirety by this reference and shall apply to this grant of Restricted Stock Units as if such grant was granted pursuant to the terms of the Plan, except to the extent that this Agreement expressly provides to the contrary. Capitalized terms not otherwise defined in this Agreement shall hav
