Document:

Exhibit

Exhibit 10.8

SALESFORCE.COM, INC.
2004 EMPLOYEE STOCK PURCHASE PLAN
SUBSCRIPTION AGREEMENT

NAME (Please print):                                            
(Last)                    (First)            (Middle)

Original application for the Offering Period beginning (date):                     

Change in payroll deduction rate effective with the pay period beginning (date):             

Stop payroll deductions effective with the pay period beginning (date):                 

I.    SUBSCRIPTION

I elect to participate in the 2004 Employee Stock Purchase Plan (the “Plan”) of salesforce.com, inc. (the “Company”) and to subscribe to purchase shares of the Company’s Stock in accordance with this Subscription Agreement, including the Additional Terms and Conditions of Participation set forth in an addendum hereto (the “Addendum”), and the Plan.

I authorize payroll deductions of __________ percent (in whole percentages not less than 2%, unless an election to stop deductions is being made, or more than 15%) of my Compensation on each pay day throughout the Offering Period in accordance with the Plan.  I understand that these payroll deductions will be accumulated for the purchase of shares of Stock at the applicable purchase price determined in accordance with the Plan.  Except as otherwise provided by the Plan, I will automatically purchase shares on each Purchase Date unless I withdraw from the Plan by giving written notice on a form provided by the Company or unless my eligibility or employment terminates.

I understand that I will automatically participate in each subsequent Offering that commences immediately after the last day of an Offering in which I am participating until I withdraw from the Plan by giving written notice on a form provided by the Company or my eligibility or employment terminates.

Shares I purchase under the Plan should be issued in the name(s) set forth below.  (For U.S. employees only, shares may be issued in the participant’s name alone or together with the participant’s spouse as community property or in joint tenancy.)

NAME(S) (please print):                                     

ADDRESS:                                             

MY SOCIAL SECURITY OR EMPLOYEE ID NUMBER:                                 

I agree to make adequate provision for the U.S. and/or non-U.S. federal, state and local tax withholding obligations, if any, which arise upon my purchase of shares under the Plan, my disposition of shares and/or at any other time in relation to my participation in the Plan.  The Company or, if different, my employer may withhold from my compensation the amount necessary to meet such withholding obligations, or using any other method specified in the Addendum.  

    

If I am employed by the Company or a subsidiary of the Company located in the United States and subject to tax in the United States:

I agree that, unless otherwise permitted by the Company, until I dispose of shares I purchase under the Plan, I will hold such shares in the name(s) entered above (and not in the name of any nominee) until the later of (i) two years after the first day of the Offering Period in which I purchased the shares and (ii) one year after the Purchase Date on which I purchased the shares.  This restriction only applies to the name(s) in which shares are held and does not affect my ability to dispose of Plan shares.

I agree that I will notify the Company (or such person/agent as designated by the Company) in writing within 30 days after any sale, gift, transfer or other disposition of any kind prior to the end of the periods referred to in the preceding paragraph (a “Disqualifying Disposition”) of any shares I purchased under the Plan.  If I do not respond within 30 days of the date of a Disqualifying Disposition Survey delivered to me by certified mail, the Company is authorized to treat my nonresponse as my notice to the Company of a Disqualifying Disposition and to compute and report to the U.S. Internal Revenue Service the ordinary income I must recognize upon such Disqualifying Disposition.

II.    PARTICIPANT DECLARATION

Any election I have made on this form revokes all prior elections with regard to this form.

I am familiar with the provisions of the Plan and agree to participate in the Plan subject to all of its provisions and subject to the Additional Terms and Conditions of Participation set forth in the Addendum to this Subscription Agreement.  I understand that the Board of Directors of the Company reserves the right to terminate the Plan or to amend the Plan and my right to purchase stock under the Plan to the extent provided by the Plan or the Addendum.  I understand that the effectiveness of this Subscription Agreement is dependent upon my eligibility to participate in the Plan.

In particular, I agree to the data privacy consent provisions included in Section 4 of the Additional Terms and Conditions of Participation.  

Date:                                                     
Signature of Participant

SALESFORCE.COM, INC.
2004 EMPLOYEE STOCK PURCHASE PLAN
NOTICE OF WITHDRAWAL

NAME (Please print):    
(Last)                (First)                (Middle)

I elect to withdraw from the salesforce.com, inc. 2004 Employee Stock Purchase Plan (the “Plan”) and the Offering which began on (date) ____________________ and in which I am participating (the “Current Offering”).

I understand that I am terminating immediately my interest in the Plan and the Current Offering, and that no further payroll deductions will be made (provided I have given sufficient notice before the next pay day).  My payroll deductions not previously used to purchase shares will not be used to purchase shares in the Current Offering, but instead will be paid to me as soon as practicable.  I understand that I will not participate in the Plan unless I elect to become a participant in another Offering by filing a new Subscription Agreement with the Company.  I understand that I will receive no interest on the amounts paid to me from my Plan account, and that I may not apply such amounts to any other Offering under the Plan or any other employee stock purchase plan of the Company.

Date:         Signature:     

SALESFORCE.COM, INC.
2004 EMPLOYEE STOCK PURCHASE PLAN
ADDENDUM TO SUBSCRIPTION AGREEMENT 
ADDITIONAL TERMS AND CONDITIONS OF PARTICIPATION

These Additional Terms and Conditions of Participation, including Appendix I attached hereto, constitute an addendum to the Subscription Agreement to the salesforce.com, inc.  2004 Employee Stock Purchase Plan (collectively, the Subscription Agreement and this Addendum are referred to herein as the “Agreement”).  The terms of the Agreement are incorporated into the salesforce.com, inc.  2004 Employee Stock Purchase Plan, including any applicable subplans thereto (the “Plan”), and govern the terms of participation for participating employees (each, a “Participant”) in the Plan.  Capitalized terms used but not otherwise defined herein shall have the meanings given to them in the Plan.
1.Responsibility for Taxes.  The Participant acknowledges that, regardless of any action the Company and/or, if different, the Participant’s employer (the “Employer”) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefit tax, payment on account or other tax-related items related to the Participant’s participation in the Plan and legally applicable to the Participant, or deemed by the Company or the Employer in its discretion to be an appropriate charge to the Participant even if legally applicable to the Company or the Employer (collectively, “Tax-Related Items”), the ultimate liability for all Tax-Related Items is and remains the Participant’s responsibility and may exceed the amount, if any, actually withheld by the Company or the Employer.  The Participant further acknowledges that the Company and/or the Employer (1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the grant of Purchase Rights, including but not limited to, the purchase of shares of Stock, the sale of shares of Stock acquired under the Plan or the receipt of any dividends, and (2) do not commit to and are under no obligation to structure the terms of the grant of the Purchase Rights or any aspect of the Participant’s Plan participation to reduce or eliminate the Participant’s liability for Tax-Related Items or achieve any particular tax result.  Further, if the Participant is subject to Tax-Related Items in more than one jurisdiction, the Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction.
Prior to the taxable or tax withholding event, as applicable, the Participant agrees to pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all Tax-Related Items.  In this regard, the Participant authorizes the Company and/or the Employer to satisfy any withholding obligations for all applicable Tax-Related Items from any wages or other cash compensation paid to the Participant by the Company and/or the Employer.  Alternatively, or in addition, if permissible under local law, the Participant authorizes the Company and/or the Employer, or their respective agents, to (i) withhold from proceeds of the sale of shares of Stock acquired by the Participant upon purchase, either through a voluntary sale or through a mandatory sale arranged by the Company (on the Participant’s behalf pursuant to this authorization, without further consent), or  (ii) withhold shares of Stock to be issued upon purchase, provided, however, that withholding in shares shall be subject to approval by the Compensation Committee to the extent deemed necessary or advisable by counsel to the Company at the time of any relevant tax withholding event.  

The Company and/or the Employer may withhold or account for Tax-Related Items by considering maximum applicable rates in the Participant’s jurisdiction, in which case the Participant may receive a refund of any over-withheld amount in cash and will have no entitlement to the Stock equivalent; provided, however, that where the application of such maximum rates would, in the Company’s determination, result in adverse accounting consequences to the Company, the Company shall withhold only amounts sufficient to meet the minimum statutory Tax-Related Items required to be withheld or remitted with respect to the Participant’s participation in the Plan.  If the obligation for Tax-Related Items is satisfied by withholding in shares of Stock, for tax purposes, the Participant is deemed to have been issued the full number of shares of Stock subject to the purchase, notwithstanding that a number of the shares of Stock are held back solely for the purpose of paying the Tax-Related Items due as a result of any aspect of the Participant’s participation in the Plan.
Finally, the Participant shall pay to the Company or the Employer any amount of Tax-Related Items that the Company or the Employer may be required to withhold or account for as a result of the Participant’s participation in the Plan that cannot be satisfied by the means previously described.  The Company may refuse to purchase or deliver the shares or the proceeds of the sale of shares of Stock, if the Participant fails to comply with the Participant’s obligations in connection with the Tax-Related Items.
2.    Nature of Plan.  By enrolling and participating in the Plan, the Participant acknowledges, understands and agrees that:
(a)the Plan is established voluntarily by the Company and it is discretionary in nature;
(b)the grant of the Purchase Rights under the Plan is exceptional, voluntary and occasional and does not create any contractual or other right to receive future purchase rights, or benefits in lieu of purchase rights, even if purchase rights have been granted in the past;
(c)all decisions with respect to future Purchase Rights grants, if any, will be at the sole discretion of the Company;
(d)if the Participant is not employed by the Company, neither the grant of the Purchase Rights nor the Participant’s participation in the Plan shall create a right to employment or be interpreted as forming an employment contract with the Company;
(e)neither the grant of the Purchase Rights nor the Participant’s participation in the Plan shall interfere with the ability of the Company or the Employer, as applicable, to terminate the Participant’s employment contract (if any);
(f)the Participant is voluntarily participating in the Plan;
(g)the Purchase Rights and the shares of Stock subject to the Purchase Rights, and the income from and value of same, are not intended to replace any pension rights or compensation;
(h)unless otherwise agreed with the Company, the Purchase Rights and the shares of Stock purchased under the Plan, and the income from and value of same, are not granted as consideration for, or in connection with, the service the Participant may provide as a director of a Subsidiary Corporation.
(i)the future value of the underlying shares of Stock is unknown and cannot be predicted with certainty, and the value of the shares of Stock purchased under the Plan may increase or decrease, even below the Purchase Price;

(j)the Purchase Rights and the shares of Stock subject to the Purchase Rights, and the income from and value of same, are not part of normal or expected compensation or salary for purposes of calculating any severance, resignation, termination, redundancy, dismissal, end of service payments, holiday pay, bonuses, long-service awards, pension or retirement or welfare benefits or similar mandatory payments and in no event should be considered as compensation for, or relating in any way to, past services for the Company, the Employer or any other Subsidiary Corporation;
(k)for purposes of the Purchase Rights and unless otherwise determined by the Company, in the event of termination of the Participant’s employment (for any reason whatsoever, whether or not later found to be invalid or in breach of employment laws in the jurisdiction where the Participant is employed or the terms of the Participant’s employment agreement, if any), the Participant’s right to participate in the Plan and the Participant’s right to purchase shares of Stock, if any, will terminate effective as of the date that the Participant is no longer actively providing services and will not be extended by any notice period mandated under local law (e.g., active employment would not include any contractual notice or any period of “garden leave” or similar period mandated under employment laws in the jurisdiction where the Participant is employed or the terms of the Participant’s employment agreement, if any); the Company shall have the exclusive discretion to determine when the Participant is no longer actively providing services for purposes of the Participant’s Purchase Rights (including whether the Participant may still be considered to be providing services while on a leave of absence);
(l)unless otherwise provided in the Plan or by the Company in its discretion, the Purchase Rights and the benefits evidenced by the Agreement do not create any entitlement to have the Plan or any such benefits granted thereunder, transferred to, or assumed by, another company nor to be exchanged, cashed out or substituted for, in connection with any corporate transaction affecting the Stock; and
(m)if the Participant is rendering services outside the United States: 
i.    no claim or entitlement to compensation or damages shall arise from forfeiture of the Purchase Rights under the Plan resulting from termination of the Participant’s employment with the Employer, the Company and its other Participating Companies (for any reason whatsoever and whether or not later found to be invalid or in breach of employment laws in the jurisdiction where the Participant is employed or the terms of the Participant’s employment agreement, if any); 
ii.    the Plan, the Purchase Rights and any shares of Stock acquired under the Plan are not part of the Participant’s normal or expected compensation or salary for any purpose; and
iii.    none of the Company, the Employer nor any other Subsidiary Corporation shall be liable for any foreign exchange rate fluctuation between the Participant’s local currency and the United States Dollar that may affect the value of the Purchase Rights or of any amounts due to the Participant pursuant to the purchase of shares of Stock under the Plan or the subsequent sale of any such shares of Stock.
3.    No Advice Regarding Participation.  The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding the Participant’s participation in the Plan, or the Participant’s acquisition or sale of the underlying shares of Stock.  The Participant should consult with the Participant’s own personal tax, legal and financial advisors regarding his or her participation in the Plan before taking any action related to the Plan.

4.    Data Privacy Notice.  The Participant hereby acknowledges that the collection, use and transfer, in electronic or other form, of the Participant’s personal data as described in this Agreement and any other Plan materials by and among, as applicable, the Employer, the Company and any Subsidiary Corporation, is necessary for the exclusive purpose of implementing, administering and managing the Participant’s participation in the Plan.  The Participant understands that the Company and the Employer may hold certain personal information about the Participant, including, but not limited to, the Participant’s name, home address and telephone number, email address, date of birth, social insurance, passport or other identification number (e.g., resident registration number), salary, nationality, job title, any shares of Stock or directorships held in the Company, details of all Purchase Rights or any other entitlement to shares of Stock awarded, canceled, exercised, purchased, vested, unvested or outstanding in the Participant’s favor (“Data”), for the exclusive purpose of implementing, administering and managing the Plan. The Participant understands that Data will be transferred to E*Trade Financial Services, Inc. and its related companies (“E*TRADE”) or any stock plan service provider as may be selected by the Company in the future, which is assisting the Company with the implementation, administration and management of the Plan. The Participant understands that the recipients of the Data may be located in the United States or elsewhere, and that the recipients’ country of operation (e.g., the United States) may have different data privacy laws and protections than the Participant’s country. The Participant understands that if he or she resides outside the United States, he or she may request a list with the names and addresses of any potential recipients of the Data by contacting his or her local human resources representative.  The Company, E*TRADE, any stock plan service provider selected by the Company and any other possible recipients which may assist the Company (presently or in the future) with implementing, administering and managing the Plan may receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purpose of implementing, administering and managing his or her participation in the Plan. The Participant understands that Data will be held only as long as is necessary to implement, administer and manage the Participant’s participation in the Plan. The Participant understands if he or she resides outside the United States, he or she may, at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data or make any other applicable data subject requests, in any case without cost, by contacting in writing his or her local human resources representative. For more information, the Participant may contact his or her local human resources representative.
5.    Electronic Delivery/Enrollment.  The Company may, in its sole discretion, decide to deliver any documents related to current or future participation in the Plan by electronic means.  The Participant hereby consents to receive such documents by electronic delivery and agrees to participate in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company. To the extent the Participant executes the Agreement by electronic means, Participant should retain a copy of his or her returned electronically signed Agreement.  Participant may obtain a paper copy at any time and at the Company’s expense by requesting one from Global Equity Plan Services Department (see paragraph 13 of these Terms and Conditions).
6.    Language.  By voluntarily participating in the Plan, the Participant acknowledges and represents that he or she is proficient in the English language or has consulted with an advisor who is sufficiently proficient in English as to allow the Participant to understand the terms of this Agreement and any other documents related to the Plan.  If the Participant has received this Agreement or any other documents related to the Plan translated into a language other than English and if the meaning of translated version is different from the English version, the English version shall control.

7.    Severability.  The provisions of the Agreement are severable and if any one or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall nevertheless be binding and enforceable.
8.    Waiver.  The Participant acknowledges that a waiver by the Company of breach of any provision of the Agreement shall not operate or be construed as a waiver of any other provision of the Agreement, or any subsequent breach by the Participant or of any other participant.
9.    Appendix I.  Notwithstanding any provisions of the Agreement, the Purchase Rights shall be subject to any special terms and conditions for the Participant’s country set forth in Appendix I to this Addendum.  Moreover, if the Participant relocates to one of the countries included in Appendix I, the special terms and conditions for such country will apply to the Participant, to the extent the Company determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons.  Appendix I constitutes part of the Agreement.
10.    Imposition of Other Requirements.  The Company, in its discretion, may elect to terminate, suspend or modify the terms of the Plan at any time, to the extent permitted by the Plan.  The Participant agrees to be bound by such termination, suspension or modification regardless of whether notice is given to the Participant of such event, subject in any case to the Participant’s right to timely withdraw from the Plan in accordance with the Plan withdrawal procedures then in effect.  In addition, the Company reserves the right to impose other requirements on the Participant’s participation in the Plan and on any shares of Stock purchased under the Plan, to the extent the Company determines it is necessary or advisable for legal or administrative reasons, and to require the Participant to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.
11.    Governing Law; Venue.  The Purchase Rights and the provisions of the Agreement are governed by, and subject to, the laws of the State of California without regard to the conflict of law provisions, as provided in the Plan.  For purposes of any action, lawsuit or other proceedings brought to enforce the Agreement, relating to it, or arising from it, the parties hereby submit to and consent to the sole and exclusive jurisdiction of the courts of San Francisco County California, or the federal courts for the United States for the Northern District of California, and no other courts, where this grant is made and/or to be performed.
12.    Insider Trading/Market Abuse Laws.  The Participant may be subject to insider trading restrictions and/or market abuse laws based on the exchange on which the shares of Stock are listed and in applicable jurisdictions, including the United States, the Participant’s country and any stock plan service provider’s country, which may affect the Participant’s ability to accept, acquire, sell or otherwise dispose of shares of Stock, rights to shares of Stock (e.g., Purchase Rights) or rights linked to the value of shares of Stock during such times as the Participant is considered to have material non-public information or “inside information” regarding the Company (as defined by the laws or regulations in applicable jurisdictions).  Local insider trading laws and regulations may prohibit the cancellation or amendment of orders the Participant placed before he or she possessed inside information.  Furthermore, the Participant could be prohibited from (i) disclosing the inside information to any third party, including fellow employees (other than on a “need to know” basis), and (ii) “tipping” third parties or causing them otherwise to buy or sell securities.  Any restrictions under these laws or regulations are separate from and in addition to any restrictions that may be imposed under any applicable Company insider trading policy.  The Participant acknowledges that it is his or her responsibility to comply with any applicable restrictions, and the Participant should speak to his or her personal advisor on this matter.

13.    Foreign Asset/Account and Exchange Control Reporting.  The Participant’s country may have certain exchange controls and foreign asset and/or account reporting requirements which may affect his or her ability to purchase or hold shares of Stock under the Plan or receive cash from his or her participation in the Plan (including from any dividends received or sale proceeds arising from the sale of shares of Stock) in a brokerage or bank account outside the Participant’s country.  The Participant may be required to report such accounts, assets or transactions to the tax or other authorities in his or her country.  Further, the Participant may be required to repatriate proceeds acquired as a result of participating in the Plan to his or her country through a designated bank/broker and/or within a certain time.  The Participant acknowledges and agrees that it is his or her responsibility to be compliant with such regulations and understands that the Participant should speak with his or her personal legal advisor for any details regarding any foreign asset/account reporting or exchange control reporting requirements in the Participant’s country arising out of his or her participation in the Plan.EX-10.1

 Exhibit 10.1 

February 27, 2019 
 James A. Gariepy 

15510 Rippling Springs Drive 
 Cypress, Texas 77429 

 

	 	Re:	 Separation Agreement and Release 

Dear Jim: 
 This letter agreement (this
“Agreement”) confirms the terms and conditions concerning your retirement and separation from employment from the Company effective on March 1, 2019 (the “Separation Date”). For purposes of this
Agreement, the “Company” means Dril-Quip, Inc. and any affiliate thereof, as well as their successors, assigns, officers, directors, employees and agents. You and the Company are sometimes referred to as the parties in this
Agreement. For purposes of this Agreement, the parties agree that your retirement is a termination of employment without cause as described in Section 5(c) of the Employment Agreement between you and the Company dated December 8, 2011 (the
“Employment Agreement”) and that this Agreement is the written Notice of Termination of your employment for purposes of the Employment Agreement. Capitalized terms not defined in this Agreement shall have the meaning given in
the Employment Agreement. 
 Your acceptance of this Agreement must be indicated by signing on the last page of this Agreement. If accepted,
this Agreement must be returned to me by close of business on March 22, 2019. 
 Resignation from Officer and Director Positions 

Effective as of the Separation Date, you will cease to be an officer and employee of the Company and you agree to take any and all actions
necessary to resign from all officer and director positions you hold with the Company. 
 Pay and Benefits Upon the Separation Date 

Regardless of whether you agree to the terms of this Agreement by returning a signed copy as described above, you will receive the following
pay and benefits: 
 Pay Through the Separation Date 

The Company will pay you a lump-sum cash payment in an amount equal to the total of your (i) Base
Salary earned through the Separation Date, to the extent not paid, and (ii) accrued, but unpaid vacation time or paid-time-off (PTO). This amount will be paid on the tenth (10th) Business Day next
following the Separation Date. 
 Severance Payment 

The Company will pay you a lump-sum cash payment in the amount of $1,125,000, which is equal to two
(2) times your Base Salary in effect as of the Separation Date. This amount will be paid to you on the tenth (10th) Business Day next following the Separation Date. 

 James A. Gariepy 

February 27, 2019 
  Page
 2
 
  

 Continued Medical, Dental and Life Insurance 

You will continue to receive, at the Company’s cost for the employer premium portion only, medical, vision, dental and life insurance
coverage available to you and your covered dependents following the Separation Date, subject to your timely payment of the applicable active employee premiums for such coverage, as in effect from time to time, until the earlier of
(i) equivalent coverage and benefits being provided to you by a subsequent employer (with such coverage and benefits determined on a coverage-by-coverage or benefit-by-benefit basis) or (ii) two (2) years after the Separation Date (“Continued Medical/Life Benefits”). The portion of the premiums paid on
your behalf for the Continued Medical/Life Benefits will be reported as imputed income on a Form W-2. 

The medical and dental benefits provided under the paragraph above are treated as your COBRA coverage and accordingly the COBRA continuation
period will begin on the Separation Date. Except for the Continued Medical/Life Benefits, coverage under all other Company welfare benefits will cease on the Separation Date. 

Other Employee Benefits and Expense Reimbursements 

As provided in the benefit plan documents, and except as provided in this Agreement, all other employee benefit coverage, including short and
long-term disability benefits, life insurance, and your participation in the 401(k) plan, if any, shall terminate on the Separation Date. 

You will be reimbursed according to the Company’s reimbursement policies for any outstanding business expenses incurred up to and
including the Separation Date, provided such expenses are timely submitted as required under the Company’s reimbursement policies. 
 Separation
Benefits 
 In return for your timely execution and return of this Agreement, which contains a release of all claims, provided that
you do not later revoke your agreement as described below, you will receive the following benefits (the “Separation Benefits”). 

Continued Medical/Life Benefits for Three Years 

The Continued Medical/Life Benefits will be extended from a maximum of two (2) years to a maximum of three (3) years. Except for the
extension, all other terms and conditions described above will apply with respect to the Continued Medical/Life Benefits. 
 Restricted
Stock Awards 
 The shares of “Restricted Stock” granted to you under the Company’s 2004 Incentive Plan and
2017 Omnibus Incentive Plan (together, the “Incentive Plans”) that are unvested immediately prior to the Separation Date will become 100% fully vested by the 30th day
following the Separation Date. 

 James A. Gariepy 

February 27, 2019 
  Page
 3
 
  

 Performance Unit Awards 

With respect to the “Performance Units” granted to you under the Incentive Plans, you will vest in Performance Units
(if any) based on the actual achievement of the applicable Performance Goals (as set forth in the applicable Performance Unit Award Agreement) as if you remained employed through the payment date for such awards (without any pro-ration). Shares of Company common stock, if any, based on number of vested Performance Units will be issued and delivered to you, in accordance with the terms of the applicable award agreements. 

2018 Annual Bonus 
 The
Company will pay you a lump-sum cash payment in the amount of the annual bonus for 2018 in the amount determined by the Compensation Committee that you would have been paid if you had been employed on the
payment date no later than 30 days following the Separation Date. 
 You acknowledge and agree that the Separation Benefits are more than
you are otherwise entitled to receive pursuant to the Employment Agreement, the Incentive Plan or any other Company plan or program. You are not entitled to and will not receive any further payments, compensation or benefits under the Employment
Agreement, the Incentive Plan or any other Company plan or program after the Separation Date that are in addition to the payments or benefits described in this Agreement. 

Continuing Obligations; Non-Competition, Non-Solicitation And
Confidentiality 
 You expressly affirm and acknowledge your continuing obligations under the Employment Agreement to maintain the
confidentiality of the Company’s confidential information, among other things, and that you are subject to, and will comply with, the non-competition and
non-solicitation obligations under the Employment Agreement. You expressly affirm and agree that in consideration of the Separation Benefits, the Prohibited Period described in the Employment Agreement is a
period of 24 months following the Separation Date. Further, you recognize and affirm that all of these obligations expressly survive the Separation Date and the termination of your employment with the Company. 

Indemnification 
 The Company
agrees to indemnify and defend you and hold you harmless for any and all liabilities or losses arising out of or related to the lawsuit or claims involving I.M Ghazigian building contractors in relation to the construction of a facility in
Alexandria, Egypt. 
 Return of Company Property 

You agree as follows: 
  

	 	•	 	 You have returned all Company property in your possession, custody, or control, including all equipment such as
your Company-issued laptop, documents and things, issued to you. 

 James A. Gariepy 

February 27, 2019 
  Page
 4
 
  

	 	•	 	 You have returned, if in your possession, any Company property, documents, files or other paper or electronic
media pertinent to the Company’s business. You should keep your personal pay records and tax documents. 

  

	 	•	 	 You have searched for and deleted all Company information, including all secret, confidential or proprietary
information, that may exist on your personal electronic devices such as a smartphone, laptop, tablet, personal computer, flash drive, or any other electronic storage device, other than the payroll information provided to you that you may need to
file your tax returns or keep your financial records. 

  

	 	•	 	 You have not and will not remove from the Company’s premises any Company property, documents, files or other
paper or electronic media pertinent to the Company’s business. 

 Non-Disparagement

 You have not and will not, orally, online, or in writing, make any disparaging or defamatory statements about or referring to the
Company, or its services or personnel. You will not directly refer to the Company or its principals or services in any press release, advertisement, public social media posting, or similar communication directed to the public or the Company’s
current or prospective customers without the Company’s prior written consent. 
 The Company agrees to instruct its officers and
directors not to make any disparaging or defamatory statements about you. 
 Release of Claims 

The payments and promises to set forth in this Agreement are in full satisfaction of all accrued salary, vacation pay, termination benefits,
bonuses, equity compensation, or other compensation to which you may be entitled by virtue of your employment with the Company or your separation from the Company. You release and forever discharge the Company from any and all complaints,
liabilities, claims, promises, agreements, controversies, damages, causes of action, suits or expenses of any nature whatsoever, known or unknown, which you now have or own or claim to have or own against the Company including, without limitation,
claims under any employment laws, including, but not limited to, claims of unlawful discharge, breach of contract, breach of the covenant of good faith and fair dealing, fraud, violation of public policy, defamation, physical injury, emotional
distress, claims for additional compensation or benefits arising out of your employment or your separation of employment. This release applies to all claims or causes of action including, but not limited to, claims arising under the common law of
the State of Texas or any state or federal statute such as Title VII of the Civil Rights Act of 1964, 42 U.S.C. § 1981, the Civil Rights Act of 1991, the Americans With Disabilities Act of 1990, the Family and Medical Leave Act, the
Worker Adjustment and Retraining Notification Act, the Genetic Information Non-Discrimination Act, the Texas Labor Code, or the Employee Retirement Income Security Act of 1974, all as amended, and any other
laws and/or regulations relating to employment or employment discrimination, including, without limitation, claims based on age or under the Age Discrimination in Employment Act or Older Workers Benefit Protection Act, each as amended. 

 James A. Gariepy 

February 27, 2019 
  Page
 5
 
  

 Notwithstanding the foregoing, this release, however, does not waive any rights or claims
that may arise after the date you sign this Agreement. You also agree not to sue or join in any suit against the Company for any claim relating to or arising out of your employment or your separation from employment with the Company, provided,
however, that nothing will preclude you from (i) bringing a lawsuit or proceeding against the Company to enforce the Company’s obligations under this Agreement or to challenge the enforceability of the release under the Older Worker
Benefit Protection Act, (ii) filing a charge or complaint with, providing information to, or testifying or otherwise assisting in any investigation or proceeding brought by any state, federal or local regulatory or law enforcement agency or
legislative body, or (iii) filing any claims that are not permitted to be waived or released under applicable law. However, you waive your right to receive any relief (legal or equitable) directly from the Company based on any charge,
complaint, or lawsuit against the Company filed by you or anyone else on your behalf. 
 You further acknowledge and agree that nothing in
this Agreement prohibits you from reporting to any governmental authority information concerning possible violations of law or regulation and that you shall not be held criminally or civilly liable under any federal or state trade secret law for the
disclosure of trade secret information in confidence to a government official or to an attorney solely for the purpose of reporting or investigating a suspected violation of law, and you may use it in certain court proceedings provided you submit it
under seal and consistent with 18 U.S.C. 1833. Nothing contained in this Agreement prohibits you from voluntarily or anonymously contacting governmental authorities regarding possible violations of law or from recovering a whistleblower award. You
will retain all rights and consideration provided in this Agreement regardless of whether you communicate with any governmental authorities, or if you receive a whistleblower award. 

By signing this Agreement, you acknowledge and agree that you are receiving the Separation Benefits in consideration for waiving your rights
to claims referred to in this Agreement and that, except for the amounts described herein, you are not entitled to any other payments, compensation or benefits in respect of your employment with, or separation or termination from, the Company. 

Neutral Reference 
 The Company
agrees that it will provide you with a neutral employment reference pursuant to Company policy, which includes dates of employment and positions held, and, with your permission, confirmation of salary information. 

Severability 
 If any provision of
this Agreement is held to be invalid or unenforceable, (i) this Agreement shall be considered divisible, (ii) such provision shall be deemed inoperative to the extent it is deemed invalid or unenforceable, and (iii) in all other
respects this Agreement shall remain in full force and effect; provided, however, that if any such provision may be made valid or enforceable by limitation thereof, then such provision shall be deemed to be so limited and shall be valid and/or
enforceable to the maximum extent permitted by applicable law. 

 James A. Gariepy 

February 27, 2019 
  Page
 6
 
  

 Consideration Period 

You acknowledge and understand that you have twenty-one (21) days after you receive this Agreement
to decide whether to sign this Agreement and be bound by its terms. You may take as much or as little of the twenty-one (21) day period to consider this Agreement as you wish. You have the right to
discuss any aspect of this matter with an attorney of your choosing, and the Company recommends that you take advantage of this consideration period and consult with an attorney before executing this Agreement. In addition, during this period,
please feel free to contact me to ask any questions regarding this Agreement. By executing this Agreement, you will be acknowledging that you considered its terms for twenty-one (21) days or waived your
right to do so, and were advised in writing to seek legal counsel. 
 Revocation Period 

In the event you agree to its terms and execute this Agreement, you may nevertheless revoke it within seven (7) days thereafter. Thus, if
you subsequently change your mind, you have the option and right to revoke this Agreement, but you must do so within seven (7) days after signing it by providing written notification via overnight mail or U.S. Mail at the address listed on the
letterhead above to the attention of James Webster or by email to james_webster@dril-quip.com. This Agreement will not become effective until the seven (7) day revocation period has expired. Of course, if this Agreement is revoked, you will not
receive the Separation Benefits. If you do not revoke the Agreement within this time frame, it will become effective and both you and the Company will be bound by its terms. 

Governing Law and Venue 
 This
Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Texas, without regard to the principles of conflicts of laws thereof. Venue for any action or proceeding relating to this Agreement and/or the
employment relationship hereunder shall lie exclusively in courts in Harris County, Texas. 
 Withholding Taxes 

The Company may withhold from any amounts payable (including the vesting of stock awards) under this Agreement such federal, state, local or
foreign taxes as shall be required to be withheld pursuant to any applicable law or regulation. 
 Compliance with Section 409A 

The Company intends that the payment and benefits under this Agreement shall be exempt from or comply with Section 409A of the Internal
Revenue Code (“Section 409A”) and this Agreement shall be interpreted, operated and administered accordingly. To the extent that the reimbursements or other
in-kind benefits hereunder are “nonqualified deferred compensation” for purposes of Section 409A, (a) all such expenses or other reimbursements shall be made on or prior to the last day of
the taxable year following the taxable year in which such expenses were incurred by you, (b) any right to reimbursements or in-kind benefits shall not be subject to liquidation or exchange for another
benefit, and (c) no such reimbursement, expenses eligible for reimbursement, or in-kind benefits provided in any taxable year shall in any way affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year. 

 James A. Gariepy 

February 27, 2019 
  Page
 7
 
  

 Entire Agreement 

This Agreement constitutes the entire agreement between the parties hereto concerning the subject matter hereof, and from and after the date of
this Agreement, this Agreement shall supersede any other prior agreement or understanding, both written and oral, between the parties with respect to such subject matter. 

Acknowledgment and Acceptance of Agreement 

By signing this Agreement in the space provided below, you acknowledge that you have carefully read and fully understand all of the provisions
of this Agreement, that you have accepted its terms and that you are voluntarily entering into this Agreement without any undue influence or coercion from the Company. You have the right to discuss any aspect of this matter with an attorney of your
choosing, and the Company recommends that you take advantage of this time to consider this Agreement and consult with an attorney before executing this Agreement. In addition, please feel free to contact me to ask any questions
regarding the Agreement. 
  

							
		 		 	Sincerely,
			
		 		 	 /s/ James C. Webster

		 		 	Name:	 	James C. Webster
		 		 	Title:	 	Vice President – General Counsel and Secretary
				
	AGREED AND ACCEPTED:	 		 		 	
			
	 March 5, 2019
	 		 	 /s/ James A. Gariepy

	Date	 		 	James A. Gariepy

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