0000950129-05-002088 Sample Contracts

NON-QUALIFIED STOCK OPTION AGREEMENT GREY WOLF, INC. 2003 INCENTIVE PLAN (effective as of March 26, 2003)
Non-Qualified Stock Option Agreement • March 8th, 2005 • Grey Wolf Inc • Drilling oil & gas wells • Texas

THIS NON-QUALIFIED STOCK OPTION AGREEMENT (this “Agreement”) made as of , 200 , by and between GREY WOLF, INC., a corporation organized under the laws of the State of Texas (the “Company”), and Thomas P. Richards, an individual (the “Grantee”);

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NON-QUALIFIED STOCK OPTION AGREEMENT GREY WOLF, INC. 2003 INCENTIVE PLAN (effective as of March 26, 2003)
Non-Qualified Stock Option Agreement • March 8th, 2005 • Grey Wolf Inc • Drilling oil & gas wells • Texas

THIS NON-QUALIFIED STOCK OPTION AGREEMENT (this “Agreement”) made as of , 200 , by and between GREY WOLF, INC., a corporation organized under the laws of the State of Texas (the “Company”), and , an individual (the “Grantee”);

RESTRICTED STOCK AGREEMENT
Restricted Stock Agreement • March 8th, 2005 • Grey Wolf Inc • Drilling oil & gas wells • Texas

THIS RESTRICTED STOCK AGREEMENT (this “Agreement”) is made and entered into by and between Grey Wolf, Inc., a corporation organized under the laws of the State of Texas (the “Company”) and Thomas P. Richards, an individual (“Grantee”) on the day of , 200 (the “Grant Date”), pursuant to the Grey Wolf, Inc. 2003 Incentive Plan (effective as of March 26, 2003) (the “Plan”). The Plan is incorporated by reference herein in its entirety. Capitalized terms not otherwise defined in this agreement shall have the meaning given to such terms in the Plan.

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