Exhibit 10.3

 

FIFTH AMENDMENT TO
EXECUTIVE EMPLOYMENT AGREEMENT

WHEREAS, Nabors Industries Ltd. and Nabors Industries, Inc. (collectively, the
“Company”) and Anthony G. Petrello (“Executive”), entered into an Executive
Employment Agreement (the “Agreement”) effective as of January 1, 2013, and
amended effective as of January 1, 2015 (the “First Amendment”), July 1, 2015
(the “Second Amendment”), January 1, 2016 (the “Third Amendment”) and July 1,
2016 (the “Fourth Amendment); and

WHEREAS, the Company and Executive desire to amend the Agreement in certain
respects;

NOW, THEREFORE, for and in consideration of the mutual promises, covenants and
obligations contained herein, the Company and Executive agree to amend the
Agreement as follows, effective October 15, 2018:

1.Section 3.1(c)(iii)(B) of the Agreement is amended by replacing the reference
therein to age “sixty-five (65)” with “seventy (70).”

2.As amended by paragraph 1 above, the Agreement remains in full force and
effect. This amendment may be executed in two or more counterparts each of which
shall be deemed an original but which taken together shall constitute one and
the same instrument.

 

[Remainder of Page Intentionally Blank;
Signature Page Follows]

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IN WITNESS WHEREOF, the Parties hereto have executed this amendment on the 15th
day of October, 2018.

COMPANY:

 

Nabors Industries Ltd.

 

 

By:/s/Mark Andrews

Corporate Secretary

 

 

Nabors Industries, Inc.

 

 

By:/s/Joseph G. Walker

Its Secretary

 

 

 

EXECUTIVE:

 

/s/Anthony G. Petrello

Anthony G. Petrello

 

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