PIONEER ENERGY SERVICES CORP.Separation Agreement • July 22nd, 2020 • Pioneer Energy Services Corp • Drilling oil & gas wells • Texas
This letter agreement confirms our agreement relating to your resignation from employment with Pioneer Energy Services Corp. and its affiliates (collectively, the “Company”), from your membership on the Board of Directors of the Company (the “Board”) and from any other officer positions you hold at the Company or any of its affiliates and boards of directors on which you serve by reason of your position as President and Chief Executive Officer of the Company. By executing this letter agreement, you hereby confirm your resignation effective July 17, 2020 (“Separation Date“). This letter agreement (this “Agreement”) sets forth the termination benefits for which you are eligible if you sign this Separation Agreement, in full satisfaction of your entitlements, if any, under (a) the Pioneer Energy Services Corp. Key Executive Severance Plan (the “Severance Plan”), (b) the Pioneer Energy Services Corp. 2020 Employee Incentive Plan (the “Equity Plan”), and (c) that certain retention bonus agr
CONSULTING AGREEMENTConsulting Agreement • July 22nd, 2020 • Pioneer Energy Services Corp • Drilling oil & gas wells • Texas
This CONSULTING AGREEMENT (“Agreement”) is entered into effective as of July 17, 2020 (the “Effective Date”) by and between Pioneer Energy Services Corp., a Delaware corporation (the “Company”), and Matt Porter (“Consultant”). The Company and Consultant are each sometimes referred to herein as a “Party”, and together as the “Parties”.
