Key Employee Retention Plan (Kerp) Sample Contracts

DATE]
Key Employee Retention Plan (Kerp) • October 30th, 2015 • Paragon Offshore PLC • Drilling oil & gas wells

In recognition of your continuing key role at and services on behalf of Paragon Offshore Services, LLC and its affiliates (collectively, “Paragon”), you shall be entitled to a bonus upon the terms and conditions set forth in this letter (“Agreement”). This Agreement is between you and Paragon’s affiliate, Paragon Offshore Services LLC (the “Company”).

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