Document:

exv10w1

Exhibit 10.1

FIRST AMENDED AND RESTATED

EMPLOYMENT AGREEMENT

First Amendment

          WHEREAS, Parker Drilling Company, a Delaware corporation (the “Company”) and Robert L. Parker
Jr. (the “Executive”) have entered into the First Amended and Restated Employment Agreement,
effective as of March 21, 2011 (the “Employment Agreement”);

          WHEREAS, the Company and the Executive desire to enter into this amendment to the Employment
Agreement to extend the term of the Employment Agreement and shorten the notice requirement with
regard to automatic renewal of the term of the Employment Agreement.

          NOW, THEREFORE, in consideration of Executive’s employment with the Company, and the mutual
promises and agreements contained herein, the parties hereto agree as follows:

     1. Section 4 of the Employment Agreement is hereby replaced in its entirety, effective as of
August 29, 2011, with the following:

“Executive’s initial term of employment with the Company under the
Agreement shall be for the period from the Effective Date through
December 31, 2011 (the ‘Initial Term of
Employment’). Unless notice
is given by either the Company or Executive to the other Party at
least 105 days prior to December 31, 2011 that the term of
employment will not be renewed, the Initial Term of Employment shall
be automatically extended for one four-month period commencing on
January 1, 2012 and ending on April 30, 2012. Unless notice is
given by either the Company or Executive to the other Party at least
60 days prior to April 30, 2012 that the term of employment will not
be renewed, the Initial Term of Employment shall be automatically
extended for a one-year period commencing on May 1, 2012 and ending
on April 30, 2013. Thereafter, the Initial Term of Employment shall
be automatically extended repetitively for an additional one-year
period commencing on May 1, 2013 and each anniversary thereof,
unless notice is given by either the Company or Executive to the
other Party at least 60 days prior to the end of such extended
Initial Term
of Employment, or any subsequent one-year extension thereof, as
applicable, that the term of employment will not be renewed. The

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Initial Term of Employment and any extension of the Initial
Term of Employment hereunder shall each be referred to herein as a
“Term of Employment.” The Term of Employment shall automatically
end in the event of the death or Disability of Executive. The
Company and Executive shall each have the right to give Notice of
Termination (pursuant to Section 8) at will, with or without
cause, at any time, subject however to the terms and conditions of
the Agreement regarding the rights and duties of the Parties upon
termination of employment. The period from the Effective Date
through the earlier of the date of Executive’s termination of
employment for whatever reason or the end of the Term of Employment
shall be referred to herein as the “Employment Period.”

     2. Except as otherwise set forth in paragraph 1 above, the terms of the Employment Agreement
shall continue in effect.

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          IN WITNESS WHEREOF, the parties have executed this amendment, which may be sufficiently
evidenced by any executed copy hereof, on this 29th day of August, 2011, but effective
as of the date set forth above.

	 	 	 	 	 
	 	PARKER DRILLING COMPANY

 	 
	 	By:  	 	 
	 	 	David C. Mannon 	 
	 	 	President & Chief Executive Officer 	 
	 
	 	EXECUTIVE

 	 
	 	  	 	 
	 	 	Robert L. Parker Jr. 	 
	 	 	 	 

3exv10w2

	 	 	 	 	 

Exhibit 10.2

EMPLOYMENT AGREEMENT

First Amendment

          WHEREAS, Parker Drilling Company, a Delaware corporation (the “Company”) and David C. Mannon
(the “Executive”) have entered into an Employment Agreement, effective as of October 23, 2009 (the
“Employment Agreement”);

          WHEREAS, the Company and the Executive desire to enter into this amendment to the Employment
Agreement to extend the term of the Employment Agreement and shorten the notice requirement with
regard to automatic renewal of the term of the Employment Agreement.

          NOW, THEREFORE, in consideration of Executive’s employment with the Company, and the mutual
promises and agreements contained herein, the parties hereto agree as follows:

     1. Section 4 of the Employment Agreement is hereby replaced in its entirety, effective as of
August 29, 2011, with the following:

“Executive’s initial term of employment with the Company under the
Agreement shall be for the period from the Effective Date through
December 31, 2011 (the ‘Initial Term of
Employment’). Unless notice
is given by either the Company or Executive to the other Party at
least 90 days prior to December 31, 2011 that the term of employment
will not be renewed, the Initial Term of Employment shall be
automatically extended for one four-month period commencing on
January 1, 2012 and ending on April 30, 2012. Unless notice is
given by either the Company or Executive to the other Party at least
60 days prior to April 30, 2012 that the term of employment will not
be renewed, the Initial Term of Employment shall be automatically
extended for a one-year period commencing on May 1, 2012 and ending
on April 30, 2013. Thereafter, the Initial Term of Employment shall
be automatically extended repetitively for an additional one-year
period commencing on May 1, 2013 and each anniversary thereof,
unless notice is given by either the Company or Executive to the
other Party at least 60 days prior to the end of such extended
Initial Term

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of Employment, or any subsequent one-year extension thereof, as
applicable, that the term of employment will not be renewed. The
Initial Term of Employment and any extension of the Initial Term of
Employment hereunder shall each be referred to herein as a “Term of
Employment.” The Term of Employment shall also be extended upon a
Change in Control as provided in Section 7, but shall not
thereafter be extended under this Section 4. The Term of
Employment shall automatically end in the event of the death or
Disability of Executive. The Company and Executive shall each have
the right to give Notice of Termination (pursuant to Section
8) at will, with or without cause, at any time, subject however
to the terms and conditions of the Agreement regarding the rights
and duties of the Parties upon termination of employment. The
period from the Effective Date through the earlier of the date of
Executive’s termination of employment for whatever reason or the end
of the Term of Employment shall be referred to herein as the
“Employment Period.”

     2. Except as otherwise set forth in paragraph 1 above, the terms of the Employment Agreement
shall continue in effect.

[Signatures on next page]

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          IN WITNESS WHEREOF, the parties have executed this amendment, which may be sufficiently
evidenced by any executed copy hereof, on this 29th day of August, 2011, but effective
as of the date set forth above.

	 	 	 	 	 
	 	PARKER DRILLING COMPANY

 	 
	 	By:  	 	 
	 	 	W. Kirk Brassfield 	 
	 	 	Sr. Vice President & Chief Financial Officer 	 
	 
	 	EXECUTIVE

 	 
	 	  	 	 
	 	 	David C. Mannon 	 

3exv10w3

Exhibit 10.3

EMPLOYMENT AGREEMENT

First Amendment

          WHEREAS, Parker Drilling Company, a Delaware corporation (the “Company”) and W. Kirk
Brassfield (the “Executive”) have entered into an Employment Agreement, effective as of December
29, 2010 (the “Employment Agreement”);

          WHEREAS, the Company and the Executive desire to enter into this amendment to the Employment
Agreement to shorten the notice requirement with regard to automatic renewal of the term of the
Employment Agreement.

          NOW, THEREFORE, in consideration of Executive’s employment with the Company, and the mutual
promises and agreements contained herein, the parties hereto agree as follows:

     1. Section 4 of the Employment Agreement is hereby replaced in its entirety, effective as of
August 29, 2011, with the following:

“Executive’s initial term of employment with the Company under the
Agreement shall be for the period from the Effective Date through
December 31, 2012 (the ‘Initial Term of
Employment’). Unless notice
is given by either the Company or Executive to the other Party at
least 90 days prior to December 31, 2012 that the term of employment
will not be renewed, the Initial Term of Employment shall be
automatically extended for one four-month period commencing on
January 1, 2013 and ending on April 30, 2013. Unless notice is
given by either the Company or Executive to the other Party at least
60 days prior to April 30, 2013 that the term of employment will not
be renewed, the Initial Term of Employment shall be automatically
extended for a one-year period commencing on May 1, 2013 and ending
on April 30, 2014. Thereafter, the Initial Term of Employment shall
be automatically extended repetitively for an additional one-year
period commencing on May 1, 2014 and each anniversary thereof,
unless notice is given by either the Company or Executive to the
other Party at least 60 days prior to the end of such extended
Initial Term of Employment, or any subsequent one-year extension
thereof, as applicable, that the term of employment will not be
renewed. The Initial Term of Employment and any extension of the
Initial Term

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of Employment hereunder shall each be referred to herein as a “Term
of Employment.” The Term of Employment shall also be extended upon
a Change in Control as provided in Section 7, but shall not
thereafter be extended under this Section 4. The Term of
Employment shall automatically end in the event of the death or
Disability of Executive. The Company and Executive shall each have
the right to give Notice of Termination (pursuant to Section
8) at will, with or without cause, at any time, subject however
to the terms and conditions of the Agreement regarding the rights
and duties of the Parties upon termination of employment. The
period from the Effective Date through the earlier of the date of
Executive’s termination of employment for whatever reason or the end
of the Term of Employment shall be referred to herein as the
“Employment Period.”

     2. Except as otherwise set forth in paragraph 1 above, the terms of the Employment Agreement
shall continue in effect.

[Signatures on next page]

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     IN WITNESS WHEREOF, the parties have executed this amendment, which may be sufficiently
evidenced by any executed copy hereof, on this 29th day of August, 2011, but effective
as of the date set forth above.

	 	 	 	 	 
	 	PARKER DRILLING COMPANY

 	 
	 	By:  	 	 
	 	 	David C. Mannon 	 
	 	 	President & Chief Executive Officer

	 
	 	EXECUTIVE	 
	 
	 
	 	W. Kirk Brassfield 	 

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