EXECUTIVE EMPLOYMENT AGREEMENTExecutive Employment Agreement • October 24th, 2014 • Weatherford International PLC • Oil & gas field machinery & equipment • Texas
This Executive Employment Agreement (this “Agreement”) is entered into as of the date set forth on the signature page hereto to be effective as of July 21, 2014 (the “Effective Date”) by and between Weatherford International plc (the “Company”), and the individual signing as “Executive” on the signature page hereto (the “Executive”).
July 24, 2014Weatherford International PLC • October 24th, 2014 • Oil & gas field machinery & equipment
This letter outlines the benefits you will be provided, or have already received, in connection with your separation of service from Weatherford pursuant to the terms of the Employment Agreement. The benefits outlined below constitute full, complete and final settlement of all amounts owed to you (i) under Section 5 of your Employment Agreement, (ii) various award agreements covering equity awards granted to you (“Awards”), which are referenced in Table 2 below, and (iii) under any other employment related documents in effect with Weatherford, its parent company or affiliates. You acknowledge that you have been advised by your own counsel in connection with your termination of employment. Terms not defined herein shall have the meaning set forth in the Employment Agreement.
