EXHIBIT 10.16 LETTER OF CREDIT WIND-DOWN AGREEMENT LETTER OF CREDIT WIND-DOWN AGREEMENT dated as of November 28, 1995 between READING & BATES CORPORATION, a corporation duly organized and validly existing under the laws of the State of Delaware (the...Letter of Credit Wind-Down Agreement • March 11th, 1996 • Reading & Bates Corp • Drilling oil & gas wells • New York
