EXHIBIT 10.3

 

2006 STOCK-SETTLED STOCK APPRECIATION RIGHTS GRANTS

TO CERTAIN EXECUTIVE OFFICERS

 

Executive Officer

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2006 Stock-Settled Stock

Appreciation Rights Grants*

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Jon A. Marshall

    President and

    Chief Executive Officer

   120,400            

W. Matt Ralls

    Executive Vice President

    and Chief Operating Officer

   60,800            

James L. McCulloch

    Senior Vice President

    and General Counsel

   45,500            

Marion M. Woolie

    Senior Vice President,

    Operations

   44,200            

Roger B. Hunt

    Senior Vice President,

    Marketing

   44,200            

Michael R. Dawson

    Senior Vice President and

    Chief Financial Officer

   41,600            

Cheryl D. Richard

    Senior Vice President,

    Human Resources

   28,800            

R. Blake Simmons

    President,

    Applied Drilling Technology Inc.

   28,800            

Robert L. Herrin

   3,700            

    Vice President

    

    and Controller

    

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* The grant of the Stock-Settled Stock Appreciation Rights is effective
January 3, 2006.