Single Premium Guaranteed Annuity Contract Purchase Agreement Principal Life Insurance Company Des Moines, IA 50392-0001 800.986.3343 www.principal.comNOV Inc. • February 21st, 2023 • Oil & gas field machinery & equipment • Texas
Principal Life Insurance Company (“Insurer”) and National Oilwell Varco, L.P. (“Plan Sponsor”) (each individually a “Party” and collectively the “Parties”) hereby agree that Insurer will provide a nonparticipating single premium group annuity contract (“Contract”) in connection with the settlement of liabilities associated with certain benefits arising under the NATIONAL-OILWELL DEFINED BENEFIT PENSION PLAN)(the “Plan”), for a Premium amount of $183,925,423.88 (“Premium”) in accordance with and subject to the terms of this Purchase Agreement (“Agreement”). Certain details of the Agreement are set forth in Schedule A. All capitalized terms used but not defined herein have the meaning ascribed to such term in the NOV RFP Final dated 02/01/2023 and any subsequent Addendums (together, the “Specifications”) and Insurer’s Final Quote/Proposal dated 02/14/2023 (“Proposal”) (which may include clarifications to and/or deviations from the Specifications) (together, the “Contract Documents”). In
