Document:

Form of Stock Option Agreement

 Exhibit 10.7 
  
 BRONCO DRILLING COMPANY, INC. 
  
 2005 STOCK INCENTIVE PLAN 
  
 STOCK OPTION AGREEMENT 
  
 This Stock Option Agreement (the “Agreement”) is made and entered into as of the date of grant set forth below (the
“Date of Grant”) by and between Bronco Drilling Company, Inc., a Delaware corporation (the “Company”), and the participant named below (the “Participant”). Capitalized terms not
defined herein shall have the meaning ascribed to them in the Company’s 2005 Stock Incentive Plan (the “Plan”). 
  

			
	 Participant:
	  	_________________________________
		
	 Social Security Number:
	  	_________________________________
		
	 Address:
	  	_________________________________
		
	 	  	_________________________________
		
	 Total Option Shares:
	  	_________________________________
		
	 Exercise Price Per Share:
	  	_________________________________
		
	 Date of Grant:
	  	_________________________________
		
	 Expiration Date:
	  	_________________________________
		
	 Type of Stock Option:
	  	 ̈ Incentive Stock Option
		
	 	  	 ̈ Nonqualified Stock Option

  
 1. Grant of
Option. The Company hereby grants to Participant an option (this “Option”) to purchase the total number of shares of Common Stock of the Company set forth above as Total Option Shares (the
“Shares”) at the Exercise Price Per Share set forth above (the “Exercise Price”), subject to all of the terms and conditions of this Agreement and the Plan. If designated as an Incentive Stock Option
above, the Option is intended to qualify as an “incentive stock option” (an “ISO”) within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”), although
the Company makes no representation or guarantee that such Option will qualify as an ISO. 
  
 2. Exercise Period; Vesting. Unless expired as provided in Section 3 of this Agreement, this Option may be exercised from time to time after the Date of Grant set forth above (the “Date of
Grant”) to the extent the Option has vested in accordance with the vesting schedule set forth below. The Shares issued upon exercise of the Option will be subject to the restrictions on transfer set forth in Section 11 below.
Provided Participant continues to provide Continuous Service to the Company or any Affiliate, the Option will become vested and exercisable with respect to 1/36th of the Shares on the Date of Grant set forth above and 

  

 Bronco Drilling Company, Inc. Stock Option Agreement 

 
thereafter at the end of each succeeding monthly anniversary from the Date of Grant the Option will become vested and exercisable as to an additional 1/36th
of the Shares until the Option is vested and exercisable with respect to one hundred percent (100%) of the Shares. A vested Option may not be exercised for less than a full share. If application of the vesting percentage causes a fractional Share to
otherwise become exercisable, such Share shall be rounded down to the nearest whole Share for each year except for the last year in such vesting period, at the end of which vesting period this Option shall become exercisable for the full remainder
of the unexercised Shares subject to the Option. 
  
 3.
Expiration. The Option shall expire on the Expiration Date set forth above or earlier as provided in Section 4 below. 
  
 4. Termination of Continuous Service. 
  
 4.1. Forfeiture of Unvested Options. If the Participant’s Continuous Service is terminated for any reason, the unvested
portion of the Option shall terminate immediately and the Participant may exercise the vested portion as provided in this Section 4. Outstanding Options that are not exercisable at the time a Participant’s Continuous Service terminates
for any reason other than Cause (including upon the Participant’s death or Disability) shall be forfeited and expire at the close of business on the date of such termination. Outstanding Options at the time a Participant’s Continuous
Service terminates for Cause shall be forfeited and expire at the beginning of business on the date of such termination. 
  
 4.2. Termination for Any Reason Except Death, Disability or Cause. Unless otherwise provided in an employment agreement the terms
of which have been approved by the Administrator, if Participant’s Continuous Service is terminated for any reason, except death, Disability or Cause, the Option, to the extent (and only to the extent) that it would have been exercisable by
Participant immediately prior to termination of Continuous Service, may be exercised by Participant until the earlier of the Expiration Date or, except as set forth below, the date that is three (3) months following the termination of the
Participant’s Continuous Service and the Option shall thereafter terminate and cease to be exercisable. 
  
 4.3. Termination Because of Death or Disability. If Participant’s Continuous Service is terminated because of death or
Disability of Participant (or Participant dies within three (3) months of the date of termination when such termination is for any reason other than Participant’s Disability or for Cause), the Option, to the extent that is exercisable by
Participant on the date of termination, may be exercised by Participant (or Participant’s legal representative) no later than twelve (12) months after the date of termination, but in any event no later than the Expiration Date. If permitted by
this Agreement, any exercise beyond (a) three (3) months after the date of termination when the termination is for any reason other than the Participant’s death or Disability or (b) twelve (12) months after the date of termination when the
termination is for Participant’s Disability is deemed to be a Nonqualified Stock Option (an “NQSO”) and not an ISO. 
  
 4.4. Termination for Cause. If the Participant’s Continuous Service is terminated as a result of the Participant’s
termination of Continuous Service for Cause, all 

  

 Bronco Drilling Company, Inc. Stock Option Agreement    Page 2

 
outstanding Options granted to such Participant shall expire as of the commencement of business on the date of such termination of Continuous Service.

  
 4.5. Extension of Termination Date. If
the exercise of the Option following the termination of the Participant’s Continuous Service (other than upon the Participant’s death or Disability) would be prohibited at any time solely because the exercise of the Option or issuance of
Shares of Common Stock would violate the registration requirements under the Securities Act or any other state or federal securities law requirement, then the Option shall terminate on the earlier of (a) the expiration of the Expiration Date or (b)
the expiration of a period after termination of the Participant’s Continuous Service that is three (3) months after the end of the period during which the exercise of the Option would be in violation of such registration or other securities law
requirements. 
  
 4.6. No Obligation to
Employ. Nothing in the Plan or this Agreement shall confer on Participant any right to continue in the employ of, or other relationship with, the Company or any Affiliate, or limit in any way the right of the Company or any Affiliate to
terminate Participant’s employment or other relationship at any time, with or without Cause. 
  
 5. Manner of Exercise. 
  
 5.1. Stock Option Exercise Agreement. To exercise this Option, Participant (or in the case of exercise after Participant’s
death or incapacity, Participant’s executor, administrator, heir or legatee, as the case may be) must deliver to the Company an executed stock option exercise agreement in the form attached hereto as Exhibit A, or in such other form as
may be approved by the Administrator from time to time (the “Exercise Agreement”), which shall set forth, inter alia, (a) Participant’s election to exercise the Option, (b) the number of Shares being
purchased, (c) any restrictions imposed on the Shares and (d) any representations warranties and agreements regarding Participant’s investment intent and access to information as may be required by the Company to comply with applicable
securities laws. If someone other than Participant exercises the Option, then such person must submit documentation reasonably acceptable to the Company verifying that such person has the legal right to exercise the Option. 
  
 5.2. Limitations on Exercise. The Option may not be
exercised unless such exercise is in compliance with all applicable federal and state securities laws, as they are in effect on the date of exercise. The Option may not be exercised for fewer than one (1) Share or for a fractional Share. If a
fractional Share would otherwise become exercisable, such Share shall be rounded down to the nearest whole Share for each year except for the last year of the applicable vesting period, at the end of which vesting period this Option shall become
exercisable for the full remainder of the unexercised Shares subject to the Option. 
  

 Bronco Drilling Company, Inc. Stock Option Agreement    Page 3

 5.3. Payment. The entire Exercise Price of this Option to purchase Shares issued
under the Plan shall be payable in full by cash or check for an amount equal to the aggregate Exercise Price Per Share for the number of Shares being purchased. Alternatively, in the sole discretion of the Plan Administrator and upon such terms as
the Plan Administrator shall approve, the Exercise Price may be paid by: 
  
 (a) paying all or a portion of the aggregate Exercise Price Per Share for the number of Shares being purchased by delivery to the Company of other shares of Common Stock, duly endorsed for transfer to the Company,
with a Fair Market Value on the date of delivery equal to the exercise price (or portion thereof) due for the number of Shares being acquired, or by means of attestation whereby the Participant identifies for delivery specific shares of Common Stock
where such shares have a Fair Market Value on the date of attestation equal to the exercise price (or portion thereof) and receives a number of Shares equal to the difference between the number of Shares thereby purchased and the number of
identified attestation shares of Common Stock (collectively a “Stock For Stock Exercise”); provided, however, that the shares of Common Stock used in such Stock for Stock Exercise (i) have either (1) been held for more than
six (6) months (or such longer or shorter period of time required to avoid a charge to earnings for financial accounting purposes) and have been paid for within the meaning of SEC Rule 144 (and, if such shares were purchased from the Company by use
of a promissory note, such note has been fully paid with respect to such shares); or (2) were obtained by Participant in the open public market; and (ii) are clear of all liens, claims, encumbrances or security interests. Payment of the Exercise
Price by a Participant who is an officer, director or other “insider” subject to Section 16(b) of the Exchange Act in the form of a Stock for Stock Exercise is subject to pre-approval by the Administrator, in its sole discretion, in a
manner that complies with the specificity requirements of Rule 16b-3 under the Exchange Act, including the name of the Participant involved in the transaction, the nature of the transaction, the number of shares to be acquired or disposed of by the
Participant and the material terms of the Options involved in the transaction. 
  
 (b) during any period for which the Common Stock is publicly traded (i.e., the Common Stock is listed on any established stock exchange or
a national market system, including without limitation the Nasdaq National Market, or if the Common Stock is quoted on the Nasdaq System (but not on the Nasdaq National Market) or any similar system whereby the Common Stock is regularly quoted by a
recognized securities dealer but closing sale prices are not reported), (i) a copy of instructions to a broker-dealer that is a member of the National Association of Securities Dealers (an “NASD Dealer”) directing such broker
to sell the Shares for which this Option is exercised, and to remit to the Company the aggregate Exercise Price of such Option or (ii) through a “margin” commitment from Participant and an NASD Dealer whereby Participant irrevocably elects
to exercise the Option and to pledge the Shares so purchased to the NASD Dealer in a margin account as security for a loan from NASD Dealer in the amount of the total Exercise Price, and whereby the NASD Dealer irrevocably commits upon receipt of
such Shares to forward the total Exercise Price directly to the Company (collectively referred to as a “Cashless Exercise”); provided, however, a Cashless Exercise by a Director or executive officer that involves or may
involve a direct or indirect extension of credit or arrangement of an extension of credit by the Company, a Parent or Subsidiary in violation of Section 402(a) of the Sarbanes-Oxley Act (codified as Section 13(k) of the Securities Exchange Act of
1934, 15 U.S.C. § 78m(k)) shall be prohibited; 
  
 (c) by any other form of legal consideration that may be acceptable to the Administrator, including without limitation with a full-recourse promissory note. However, if there is a stated par value of the shares and applicable law requires,
the par value of the shares, if newly issued, shall be paid in cash or cash equivalents. The shares shall be pledged as security for payment of the principal amount of the promissory note and interest thereon. The interest 

  

 Bronco Drilling Company, Inc. Stock Option Agreement    Page 4

 
rate payable under the terms of the promissory note shall not be less than the minimum rate (if any) required to avoid the imputation of additional interest
under the Code. Subject to the foregoing, the Administrator (in its sole discretion) shall specify the term, interest rate, amortization requirements (if any) and other provisions of such note. Unless the Administrator determines otherwise, shares
of Common Stock having a Fair Market Value at least equal to the principal amount of the loan shall be pledged by the holder to the Company as security for payment of the unpaid balance of the loan and such pledge shall be evidenced by a pledge
agreement, the terms of which shall be determined by the Administrator, in its discretion; provided, however, that each loan shall comply with all applicable laws, regulations and rules of the Board of Governors of the Federal Reserve System and any
other governmental agency having jurisdiction. Exercise with a promissory note or other transaction by a Director or executive officer that involves or may involve a direct or indirect extension of credit or arrangement of an extension of credit by
the Company, or an Affiliate in violation of section 402(a) of the Sarbanes-Oxley Act (codified as Section 13(k) of the Securities Exchange Act of 1934, 15 U.S.C. § 78m(k)) shall be prohibited; or 
  
 (d) by any combination of the foregoing that may be
acceptable to the Administrator. 
  
 5.4. Tax
Withholding. Prior to the issuance of the Shares upon exercise of the Option, Participant must pay or provide for any applicable federal, state and local withholding obligations of the Company. If the Administrator permits, Participant also may
provide for payment of withholding taxes upon exercise of the Option by one or more of the following means: (a) tendering a cash payment; (b) a broker assisted Cashless Exercise, (c) tendering previously acquired shares of Common Stock with a Fair
Market Value equal to or less than the minimum statutory amount of taxes required to be withheld by law, or (d) by requesting that the Company retain Shares from the Shares otherwise issuable to the Participant as a result of the exercise of this
Option, provided that no Shares are withheld with a Fair Market Value exceeding the minimum statutory amount of taxes required to be withheld by law (“Share Withholding”). In such case, the Company shall issue the net number
of Shares to the Participant by deducting the Shares retained from the Shares issuable upon exercise. Payment of the tax withholding by a Participant who is an officer, director or other “insider” subject to Section 16(b) of the Exchange
Act by a tender of Common Stock or in the form of Share Withholding is subject to pre-approval by the Administrator, in its sole discretion, in a manner that complies with the specificity requirements of Rule 16b-3 under the Exchange Act, including
the name of the Participant involved in the transaction, the nature of the transaction, the number of shares to be acquired or disposed of by the Participant and the material terms of the Options involved in the transaction. 
  
 5.5. Issuance of Shares. Provided that the Exercise
Agreement and payment are in form and substance satisfactory to counsel for the Company, the Company shall issue the Shares registered in the name of Participant, Participant’s authorized assignee, or Participant’s legal representative,
and shall deliver certificates representing the Shares with the appropriate legends affixed thereto. 
  
 6. Notice of Disqualifying Disposition of ISO Shares. If the Option is an ISO, and if Participant sells or otherwise disposes of any of the Shares
acquired pursuant to the ISO on or before the later of (a) the date two (2) years after the Date of Grant, and (b) the date one (1) year 

  

 Bronco Drilling Company, Inc. Stock Option Agreement    Page 5

 
after transfer of such Shares to Participant upon exercise of the Option, Participant shall immediately notify the Company in writing of such disposition.
Participant agrees that Participant will satisfy any obligation in the event any such disposition causes Participant to be subject to income tax withholding by the Company on the compensation income recognized by Participant from the early
disposition by payment in cash or out of the current wages or other compensation payable to Participant. 
  
 7. Compliance with Laws and Regulations. The exercise of the Option and the issuance and transfer of Shares shall be subject to compliance by the
Company and Participant with all applicable requirements of federal and state securities laws and with all applicable requirements of any stock exchange on which the Company’s Common Stock may be listed at the time of such issuance or transfer.
Participant understands that the Company is under no obligation to register or qualify the Shares with the SEC, any state securities commission or any stock exchange to effect such compliance. 
  
 8. Nontransferability of Option. If the Option is an ISO, the Option
may not be transferred in any manner other than by will or by the laws of descent and distribution and may be exercised during the lifetime of Participant only by Participant or in the event of Participant’s incapacity, by Participant’s
legal representative. The terms of the Option shall be binding upon the executors, administrators, successors and assigns of Participant. If the Option is not an ISO, upon written approval by the Administrator, it may be transferred by gift or
domestic relations order to a member of the Participant’s immediate family (child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law,
brother-in-law, or sister-in-law, including adoptive relationships, any person sharing the Participant’s household (other than a tenant or employee), a trust in which these persons have more than 50% of the beneficial interest, a foundation in
which these persons (or the Participant) control the management of assets, and any other entity in which these persons (or the Participant) own more than 50% of the voting interests. 
  
 9. Privileges of Stock Ownership. Participant shall not have any of the rights of a Stockholder with respect to any
Shares until the Shares are issued to Participant. 
  
 10.
Obligation To Sell. Notwithstanding anything herein to the contrary, if at any time following Optionee’s acquisition of shares of Stock hereunder, stockholders of the Company owning 51% or more of the shares of the Company (on a
fully diluted basis) (the “Control Sellers”) enter into an agreement (including any agreement in principal) to transfer all of their shares to any person or group of persons who are not affiliated with the Control Sellers,
such Control Sellers may require each stockholder who is not a Control Seller (a “Non-Control Seller”) to sell all of their shares to such person or group of persons at a price and on terms and conditions the same as those on
which such Control Sellers have agreed to sell their shares, other than terms and conditions relating to the performance or non-performance of services. For the purposes of the preceding sentence, an affiliate of a Control Seller is a person who
controls, which is controlled by, or which is under common control with, the Control Seller. 
  

 Bronco Drilling Company, Inc. Stock Option Agreement    Page 6

 11. Restrictions On Transfer. 
  
 11.1. Securities Law Restrictions. Regardless
of whether the offering and sale of Shares under the Plan have been registered under the Securities Act or have been registered or qualified under the securities laws of any state, the Company at its discretion may impose restrictions upon the sale,
pledge or other transfer of such Shares (including the placement of appropriate legends on stock certificates or the imposition of stop-transfer instructions) if, in the judgment of the Company, such restrictions are necessary or desirable in order
to achieve compliance with the Securities Act, the securities laws of any state or any other law. 
  
 11.2. Market Stand-Off. If an underwritten public offering by the Company of its equity securities occurs pursuant to an effective
registration statement filed under the Securities Act, including the Company’s initial public offering, the Optionee shall not sell, make any short sale of, loan, hypothecate, pledge, grant any option for the repurchase of, transfer the
economic consequences of ownership or otherwise dispose or transfer for value or otherwise agree to engage in any of the foregoing transactions with respect to any Shares without the prior written consent of the Company or its underwriters, for such
period of time from and after the effective date of such registration statement as may be requested by the Company or such underwriters (the “Market Stand-Off”). In order to enforce the Market Stand-Off, the Company may
impose stop-transfer instructions with respect to the Shares acquired under this Agreement until the end of the applicable stand-off period. If there is any change in the number of outstanding shares of Common Stock by reason of a stock split,
reverse stock split, stock dividend, recapitalization, combination, reclassification, dissolution or liquidation of the Company, any corporate separation or division (including, but not limited to, a split-up, a split-off or a spin-off), a merger or
consolidation; a reverse merger or similar transaction, then any new, substituted or additional securities which are by reason of such transaction distributed with respect to any Shares subject to the Market Stand-Off, or into which such Shares
thereby become convertible, shall immediately be subject to the Market Stand-Off. 
  
 11.3. Administration. Any determination by the Company and its counsel in connection with any of the matters set forth in this
Section 11 shall be conclusive and binding on the Optionee and all other persons. 
  
 12. General. 
  
 12.1. Interpretation. Any dispute regarding the interpretation of this Agreement shall be submitted by Participant or the Company to the Administrator for review. The resolution of such a dispute by the Administrator shall be final
and binding on the Company and Participant. 
  
 12.2. Entire Agreement. The Plan is incorporated herein by reference. This Agreement and the Plan constitute the entire agreement of the parties and supersede all prior undertakings and agreements with respect to the subject matter
hereof. If any inconsistency should exit between the nondiscretionary terms and conditions of this Agreement and the Plan, the Plan shall govern and control. 
  

12.3. Notices. Any notice required to be given or delivered to the Company under the terms of this Agreement shall be in writing
and addressed to the Corporate Secretary of the Company at its principal corporate offices. Any notice required to be given or delivered to 

  

 Bronco Drilling Company, Inc. Stock Option Agreement    Page 7

 
Participant shall be in writing and addressed to Participant at the address indicated above or to such other address as such party may designate in writing
from time to time to the Company. All notices shall be deemed to have been given or delivered upon: (a) personal delivery; (b) five (5) days after deposit in the United States mail by certified or registered mail (return receipt requested); (c) two
(2) business day after deposit with any return receipt express courier (prepaid); or (d) one (1) business day after transmission by facsimile. 
  
 12.4. Successors and Assigns. The Company may assign any of its rights under this Agreement. This Agreement shall be binding upon
and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement shall be binding upon Participant and Participant’s heirs, executors, administrators, legal
representatives, successors and assigns. 
  
 12.5. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware without giving effect to its conflict of law principles. If any provision of this Agreement is determined by
a court of law to be illegal or unenforceable, then such provision will be enforced to the maximum extent possible and the other provisions will remain fully effective and enforceable. 
  
 13. Acceptance. Participant hereby acknowledges receipt of a copy of the Plan and this Agreement. Participant has
read and understands the terms and provisions thereof, and accepts the Option subject to all the terms and conditions of the Plan and this Agreement. Participant acknowledges that there may be adverse tax consequences upon exercise of the Option or
disposition of the Shares and that Participant should consult a tax advisor prior to such exercise or disposition. 
  
 14. Section 409A Limitation. In the event the Administrator determines at any time that this Option has been granted with an exercise price less
than Fair Market Value of the Shares subject to the Option on the date the Option is granted (regardless of whether or not such exercise price is intentionally or unintentionally priced at less than Fair Market Value, or is materially modified at a
time when the Fair Market Value exceeds the exercise price), or is otherwise determined to constitute “nonqualified deferred compensation” within the meaning of Section 409A of the Code, notwithstanding any provision of the Plan or this
Option Agreement to the contrary, the Option shall satisfy the additional conditions applicable to nonqualified deferred compensation under Section 409A of the Code, in accordance with Section 7 of the Plan. The specified exercise date and term
shall be the default date and term specified in Section 7 of the Plan. Notwithstanding the foregoing, the Company shall have no liability to any Participant or any other person if an Option designated as an Incentive Stock Option fails to qualify as
such at any time or if an Option is determined to constitute “nonqualified deferred compensation” within the meaning of Section 409A of the Code and the terms of such Option do not satisfy the additional conditions applicable to
nonqualified deferred compensation under Section 409A of the Code and Section 7 of the Plan. 
  
 [SIGNATURE PAGE FOLLOWS] 
  

 Bronco Drilling Company, Inc. Stock Option Agreement    Page 8

 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly authorized
representative and Participant has executed this Agreement, effective as of the Date of Grant. 
  

			
	BRONCO DRILLING COMPANY, INC.
		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	PARTICIPANT
		
	 	 	 
	 (Signature)

	
	 Printed Name:________________________________

  

 Bronco Drilling Company, Inc. Stock Option Agreement    Page 9

  
 EXHIBIT A 

 
 FORM OF STOCK OPTION EXERCISE AGREEMENT 
  

			
	Incentive Stock Option	  	Optionee: _______________________
		
	Nonstatutory Stock Option	  	Date: _________________________

  
 STOCK OPTION
EXERCISE NOTICE 
  
 Bronco Drilling Company, Inc. 
 14313 North May Avenue 
 Suite 100 
 Oklahoma City, Oklahoma 73134 
 Attention: Chief Executive Officer 

 
 Ladies and Gentlemen: 
  
 1. Option. I was granted an option (the “Option”) to purchase shares of the common
stock (the “Shares”) of Bronco Drilling Company, Inc., a Delaware corporation (the “Company”), pursuant to the Company’s 2005 Stock Incentive Plan (the “Plan”), my Notice
of Grant of Stock Option (the “Notice”) and my Stock Option Agreement (the “Option Agreement”) as follows: 
  

			
	 Grant Number:
	 	___________________
		
	 Date of Option Grant:
	 	___________________
		
	 Number of Option Shares:
	 	___________________
		
	 Exercise Price per Share:
	 	$___________________

  
 2. Exercise of
Option. I hereby elect to exercise the Option to purchase the following number of Shares, all of which are Vested Shares in accordance with the Notice and the Option Agreement: 
  

			
	 Total Shares Purchased:
	 	___________________
		
	 Total Exercise Price
	 	 
	 (Total Shares X Price per Share)
	 	$___________________

  

 Bronco Drilling Company, Inc. Stock Option Exercise Agreement 

 3. Payments. I enclose payment in full of the total exercise price for the Shares in the
following form(s), as authorized by my Option Agreement: 
  

			
	 Cash:
	  	$___________________
		
	 Check:
	  	$___________________
		
	 Tender of Company Stock:
	  	Contact Plan Administrator

  
 4. Tax
Withholding. I authorize payroll withholding and otherwise will make adequate provision for the federal, state, local and foreign tax withholding obligations of the Company, if any, in connection with the Option. 
  
 5. Optionee Information. 
  

			
	My address is:	 	                                      
                                        
                                        
                     
		
	 	 	                                      
                                        
                                        
                     

			
		
	My Social Security Number is:	 	                                      
                                        
                                        
                     

  
 6. Notice of
Disqualifying Disposition. If the Option is an Incentive Stock Option, I agree that I will promptly notify the Treasurer of the Company if I transfer any of the Shares within one (1) year from the date I exercise all or part of the Option or
within two (2) years of the Date of Option Grant. 
  
 7.
Binding Effect. I agree that the Shares are being acquired in accordance with and subject to the terms, provisions and conditions of the Option Agreement, including the Right of First Refusal set forth therein, to all of which I hereby
expressly assent. This Agreement shall inure to the benefit of and be binding upon my heirs, executors, administrators, successors and assigns. 
  
 8. Transfer. I understand and acknowledge that the Shares have not been registered under the Securities Act of 1933, as amended (the
“Securities Act”), and that consequently the Shares must be held indefinitely unless they are subsequently registered under the Securities Act, an exemption from such registration is available, or they are sold in accordance
with Rule 144 or Rule 701 under the Securities Act. I further understand and acknowledge that the Company is under no obligation to register the Shares. I understand that the certificate or certificates evidencing the Shares will be imprinted with
legends which prohibit the transfer of the Shares unless they are registered or such registration is not required in the opinion of legal counsel satisfactory to the Company. I am aware that Rule 144 under the Securities Act, which permits limited
public resale of securities acquired in a nonpublic offering, is not currently available with respect to the Shares and, in any event, is available only if certain conditions are satisfied. I understand that any sale of the Shares that might be made
in reliance upon Rule 144 may only be made in limited amounts in accordance with the terms and conditions of such rule and that a copy of Rule 144 will be delivered to me upon request. 
  

 Bronco Drilling Company, Inc. Stock Option Exercise Agreement    Page
2 

 I understand that I am purchasing the Shares pursuant to the terms of the Plan, the Notice and my Option
Agreement, copies of which I have received and carefully read and understand. 
  

	
	 Very truly yours,

	
	 
	 (Signature)

  
 Receipt of the above is hereby
acknowledged. 
  

			
	BRONCO DRILLING COMPANY, INC.
		
	 By:
	 	 
		
	 Title:
	 	 
		
	 Dated:
	 	 

  

 Bronco Drilling Company, Inc. Stock Option Exercise Agreement    Page 3Employment Agreement between the Company and Steven C. Hale

 EXHIBIT 10.8 
  
 EMPLOYMENT AGREEMENT 
  
 THIS EMPLOYMENT AGREEMENT (“Agreement”), made and entered into as of this 1st day of July 2005 (“Effective Date”), by and between Bronco Drilling Company, Inc., a Delaware corporation
(“Employer”), with address of 14313 N. May Avenue, Suite 100, Oklahoma City, OK 73134, and Steven C. Hale, an individual, residing at 4000 S.E. 72nd S.E. Avenue, Norman, Oklahoma 73126 (“Employee”).

  
 W I T N E S S E T H: 
  
 WHEREAS, Employer is engaged in the contract land drilling business;

  
 WHEREAS, Employee is a key employee in the business of
Employer, and is highly experienced in the management and in conducting the business of Employer. Employer is desirous of entering into an agreement with Employee, whereby said Employee will continue to be employed by Employer in order to serve on
an ongoing basis, upon the terms and conditions hereinafter provided; and 
  
 WHEREAS, Employee is willing to enter into this Agreement with Employer, in consideration of the payments to be made to him by Employer, and certain other additional and valuable benefits and inducements to be granted
to him by Employer as hereinafter set forth and in accordance with the conditions hereinafter provided, the sufficiency of which Employee hereby acknowledges. 
  

NOW, THEREFORE, for and in consideration of the conditions hereinbelow to be performed on the part of the respective parties hereto, and in
consideration of the mutual covenants and agreements hereinafter set forth, it is hereby jointly and severally agreed by and between Employer and Employee as follows, to-wit: 
  
 1. EMPLOYMENT. Upon the terms and conditions hereinafter set forth, (1) Employer hereby employs Employee in the position of
President and Chief Operating Officer and (2) Employee hereby accepts employment with Employer to serve in the position of President and Chief Operating Officer of Employer and to render services, perform duties and discharge such other
responsibilities as may be assigned to him by the board of directors of Employer and the Chief Executive Officer of the Employer, including, without limitation, those services, duties and responsibilities set forth in Section 3. 

 
 2. TERM OF EMPLOYMENT. Subject to the provisions on termination of
employment contained in Section 9 herein, the term of the employment provided for herein of Employee by Employer shall be for a period of one (1) year, beginning on the Effective Date of this Agreement and ending on the date which is the last
day prior to the first (1st) anniversary of the Effective Date. This Agreement shall automatically renew for
successive one (1) year terms unless either party gives written notice of its or his intent not to renew this Agreement at least thirty (30) days prior to the expiration of the then-current term. 
  
 3. DUTIES. Subject to the control and direction of the board of directors of
Employer and the Chief Executive Officer of Employer, Employee shall oversee Employer’s operations. Employee shall render services to the Employer in accordance with this Agreement and agrees 

  

 1 

 
that he will devote his best efforts and all of his business time and attention to all facets of the business of the Employer and will faithfully and
diligently carry out his duties. The Employee shall comply with all Employer policies in effect from time to time and shall comply with all laws, statutes, ordinances, rules and regulations relating to the performances of services for the Employer
under this Agreement. During the term of this Agreement, Employee shall serve, subject to the control of the Employer, generally supervise, plan and direct the business and affairs of Employer and agrees to travel as necessary to perform his duties
under this Agreement. Employee shall exercise and perform such other powers and duties as may be from time to time prescribed or assigned to him by the Employer, or as may be otherwise prescribed by the Bylaws of the Employer. The designation by
Employer of any other duties or any other titles for Employee during the term of this Agreement shall not affect Employee’s compensation as provided for herein. 
  
 4. COMPENSATION. 
  
 a. During the term of this Agreement, the Employee shall be paid an annual base salary by Employer for the services rendered to Employer by Employee, as
described above, in the amount of ONE HUNDRED AND SEVENTY-FIVE THOUSAND AND NO/100 DOLLARS ($175,000.00) per year. This salary shall be payable to Employee in twelve (12) monthly installments of FOURTEEN THOUSAND FIVE HUNDRED EIGHTY-THREE AND 33/100
DOLLARS ($14,583.33) per month for each month during which services are rendered by Employee to Employer during the term of this Agreement. 
  
 b. Employer shall pay Employee the amount determined in subparagraph (a) above on a monthly basis on the first day of each month, subject to normal salary
deductions for the amount so owing, including, but not limited to, those Social Security, Medicare, Federal and state income withholding taxes. 
  
 5. ADDITIONAL EMPLOYEE BENEFITS. In addition to the annual base salary provided above, Employer agrees to provide to employee, or reimburse Employee for,
the following additional benefits and expenses: 
  
 a. During the
term of this Agreement, Employer shall furnish and provide to Employee, at its sole cost and expense, the following described employee benefits, upon the same basis that Employer provides these same benefits to its other employees. In the event
Employer does not provide any of the following benefits to its employees, it shall not be required to initiate a program solely to provide such benefits to Employee. However, if Employer should at any time in the future provide such benefits to its
employees, any such benefits shall also be provided to Employee upon the same basis that it is provided to such other employees of Employer, whether or not such benefit is listed below; provided, however, that nothing herein contained shall be
deemed to require Employer to adopt or maintain any particular plan or policy. 
  
 b. Hospitalization, Dental, Accident and Major Medical Insurance Benefits to Employee. The opportunity to participate in any group life insurance program on a basis comparable to the participation provided under any
plans of such kind to other employees of Employer. In any case, Employer will be expected to make contributions toward the cost of such 

  

 2 

 
plans for Employee at the same rate and in the same manner as it makes for its other employees; provided, however, that nothing herein contained shall be
deemed to require Employer to adopt or maintain any particular plan or policy. 
  
 c. In addition to the compensation above set forth, Employee shall also be entitled to reimbursement by Employer for his actual out-of-pocket expenses incurred in the conduct of Employer’s business, which shall
be limited to ordinary and necessary items and such other valid expenditures as may be determined by Employer to be appropriate expenditures on behalf of Employer, from time to time, including but not limited to reimbursement of mileage paid at the
then current IRS approved rate. The reimbursement of said expenses and the amounts and the extent to which they shall be reimbursed shall be decided on a case-by-case basis by Employer, as the case may be; provided, however, Employer may, at any
time, and from time to time, establish a policy or policies for allowing certain amounts for reimbursements of certain types of specified business expenses, incurred by Employee. Employee shall, in every instance, support any claims for
reimbursement for expenses by adequate proof of such expenditures in the form of cancelled checks, vouchers, bills or in any other forms satisfactory to the Employer. 
  
 d. Employee shall be entitled to at least two weeks of vacation with pay during any one (1) year of the term of this
Agreement. Employee agrees that he will take vacation days only at such times that will not unduly interfere with or hamper the operation of Employer’s business. Upon termination of this agreement for any reason, Employer shall pay Employee an
amount equal to any accrued and unpaid vacation existing on the date of such termination. 
  
 6. DISABILITY. 
  
 a. Employer may terminate this Agreement, at any time Employee shall be deemed by the board of directors of Employer to have sustained a “disability.” Employee shall be deemed to have sustained a “disability” if he shall
have been unable to perform his duties for a period of more than ninety (90) days in any twelve (12) month period. Upon termination of this Agreement for disability, Employer shall pay Employee an amount equal to any accrued and unpaid salary
existing on the date of such termination. After such termination, Employee shall be responsible for paying for the total cost of the insurance provided by the Employer to Employee and his family, including the cost of medical insurance. 

 
 7. CONFIDENTIAL INFORMATION. 
  
 a. Employee acknowledges that in the Employee’s employment hereunder,
the Employee will be making use of, acquiring and adding to the Employer’s trade secrets and its confidential and proprietary information of a special and unique nature and value relating to such matters including, but not limited to, the
Employer’s business operations, internal structure, financial affairs, programs, software, systems procedures, manuals, confidential reports, list of investors, all of which shall be deemed to be “confidential information.” The
Employee acknowledges that such confidential information has been and will continue to be of central importance to the business of Employer and that disclosure of it to or its use by others could cause substantial loss to Employer. Accordingly,
during the initial term and any renewal term of this Agreement and for a period of five (5) years from and after leaving the employ of Employer for any reason whatsoever, the Employee shall not, for any purpose whatsoever, directly or 

  

 3 

 
indirectly, divulge or disclose to any person or entity any of such confidential information which was obtained by Employee as a result of Employee’s
employment with Employer or any trade secrets of the Employer, but shall hold all of the same confidential and inviolate. 
  
 b. All contracts, agreements, financial books, records, instruments and documents, investor lists, memoranda, data, reports, programs, software, tapes,
rolodexes, telephone and address books, letters, research, cardex, listings, programming, and any other instruments, records or documents relating or pertaining to the business of the Employer (collectively the “Records”) and
all confidential information shall at all times be and remain the property of Employer. Upon termination of this Agreement and the Employee’s employment under this Agreement for any reason whatsoever, the Employee shall return to employer all
Records and confidential information (whether furnished by Employer or prepared by Employee). 
  
 c. All inventions and other creations, whether or not patented or copyrightable, and all ideas, reports and other creative works, including, without limitation, computer programs, manuals and related materials, made
or conceived in whole or in part by the Employee while employed by the Employer which relate in any manner whatsoever to the business, existing or proposed, of Employer or any other business or research or development effort in which Employer or any
of its subsidiaries or affiliates engages in during Employee’s employment by Employer will be disclosed promptly by the Employee to the Employer and shall be the sole and exclusive property of Employer. 
  
 8. NONSOLICITATION. 
  
 a. Business Relationships and Goodwill. Employee acknowledges and
agrees that he will be given Confidential Information. Employee further acknowledges and agrees that this creates a special relationship of trust and confidence between Employer, Employee and Employer’s current customers and employees. Employee
further acknowledges and agrees that there is a high risk and opportunity for any person given such responsibility and Confidential Information to misappropriate the relationship and goodwill existing between Employer and Employer’s customers
and employees. Employee therefore acknowledges and agrees that it is fair and reasonable for Employer to take steps to protect itself from the risk of such misappropriation. Consequently, Employee agrees to the following nonsolicitation covenants.

  
 b. Nonsolicitation of Company Customers and Employees.
Employee agrees that during his employment, Employee shall not (a) solicit the business of any established customer of Employer in the United States; or (b) (1) solicit, entice, persuade, or induce any employee, agent or representative of Employer,
who is an employee, agent or representative of Employer on the date of such Termination Event, to terminate such person’s relationship with Employer or to become employed by any business or person other than Employer; (2) approach any such
person for any of the foregoing purposes; (3) authorize, solicit, or assist in the taking of such actions by any third party; or (4) hire or retain any such person. Employee agrees that, if requested by Employer in writing within twenty (20)
business days of the Termination Event, for a period of twelve (12) months following the Termination Event, Employee shall not (a) solicit the business of any established customer of Employer in the United States; or (b) (1) solicit, entice,
persuade, or induce any employee, agent or representative of Employer, who was an employee, agent or representative of Employer upon the termination or expiration of this Agreement, to terminate 

  

 4 

 
such person’s relationship with Employer or to become employed by any business or person other than Employer; (2) approach any such person for any of
the foregoing purposes; (3) authorize, solicit, or assist in the taking of such actions by any third party; or (4) hire or retain any such person; provided that Employer shall be required to pay to Employee an amount equal to his then current base
salary, as set forth and described in Section 4 of this Agreement, less any amounts paid or payable by Employer under Section 10 of this Agreement, payable to Employee in twelve (12) equal monthly installments; provided further, that
Employer, in its sole and absolute discretion, may, with twenty (20) business days prior written notice, terminate the payment of any future monthly payments required by this Section 8(b) in which event Employee’s obligations under this
Section 8(b) will terminate. “Established customer” means a customer who has been a customer of Employer within one year of the termination of the employment of Employee. “Termination Event” means any termination or expiration of
this Agreement for any reason, including expiration of the initial term or any additional term of this Agreement, written notice of intent not to renew this Agreement pursuant to Section 2, or a termination for a reason specified in
Section 6 or Section 9. 
  
 c.
Acknowledgement. Employee acknowledges that the nonsolicitation covenants provided in this Section 8, are reasonable in terms of geography, scope and duration and do not impose a greater restraint than is necessary to protect the
goodwill or other business interest of Employer. Employee acknowledges and recognizes that the enforcement of any of the provisions in this Agreement by Employer will not interfere with Employee’s ability to pursue a proper livelihood. Employee
further agrees not to challenge the enforceability or the enforcement of these restrictive covenants. 
  
 9. TERMINATION OF EMPLOYMENT. 
  
 This Agreement shall be terminated only upon the happening of one or more of the following events: 
  
 a. Employer shall be entitled to terminate the Employee’s employment hereunder for cause upon the occurrence of any one or more of the
following events: 
  
 (i) the voluntary or involuntary
dissolution of Employer; 
  
 (ii) the voluntary or involuntary
liquidation of winding-up of Employer; 
  
 (iii) the death of
Employee, or the disability of Employee for more than one hundred twenty (120) days in any twelve (12) month period of time during the term of this Agreement pursuant to the provisions of Section 6 of this Agreement above; 
  
 (iv) the entry of a plea of nolo contendere for or Employee’s
admission, indictment or conviction of a felony or other crime involving fraud, dishonesty, moral turpitude, or which otherwise results in material injury to Employer or its standing in the community; 
  
 (v) the deliberate and intentional refusal (except by reason of disability)
by Employee to devote the amount of business time required to perform his duties, after failure to cure such refusal or problem within thirty (30) days after receiving written notice detailing the alleged refusal or cause for such dismissal under
this subparagraph from Employer or its affiliates; or 
  

 5 

 (vi) if Employee is placed in bankruptcy, whether voluntary or involuntary (if involuntary only if the
petition is not discharged within a period of 90 days after filed), or Employee makes an assignment for the benefit of his creditors. 
  
 If Employee dies during the term of this Agreement, any monthly salary due Employee under this Agreement shall be paid to the person or entity designated
by Employee, or in the absence of such written designation to the person or entity designated in Employee’s Last Will and Testament, or, in absence thereof, to his surviving spouse or, if none, to his estate. 
  
 b. Employer may terminate the employment of Employee under this Agreement,
without cause at any time during the term of this Agreement, to be effective not less than thirty (30) days from delivery of written notice of such termination without cause by Employer to Employee. 
  
 c. Employee may voluntarily terminate his employment under this Agreement
with Employer, with or without cause, effective not less than thirty (30) days from delivery of written notice of such termination by Employee to Employer. 
  
 d. Upon termination of the Employee’s employment under this Agreement pursuant to this Section 9, neither party shall thereafter have any
further rights, duties or obligations under this Agreement, except as otherwise specifically provided hereunder, but each party shall remain liable and responsible to the other for all prior obligations and duties hereunder for all acts and
omissions of such party, its agents, servants and employees prior to such termination. 
  
 10. EMPLOYEE’S RIGHTS TO ADDITIONAL COMPENSATION AND BENEFITS UPON TERMINATION OF HIS EMPLOYMENT BY EMPLOYER WITHOUT CAUSE. If Employee is terminated under this Agreement by Employer without cause pursuant to the
provisions of Section 9(b) of this Agreement, above, then and in that sole event, Employee shall be entitled to the following additional rights and benefits by reason thereof. 
  
 a. Employer shall be required to pay to Employee, within ten (10) days of the effective date of the termination of
Employee’s employment under this Agreement pursuant to the provisions of Section 9(b) above, an aggregate amount equal to three (3) months of his then current base salary, as set forth and described in Section 4 of this Agreement,
above. 
  
 11. MISCELLANEOUS PROVISIONS. 
  
 a. This Agreement shall be binding upon and shall inure to the benefit of
Employer and Employee, and their respective heirs, personal and legal representatives, successors and assigns. 
  
 b. In view of the fact that the principal offices of Employer are located in the State of Oklahoma, and the services to be rendered herein are to be
substantially rendered in the State of Oklahoma, it is understood and agreed by the parties hereto that the construction and interpretation of this Agreement shall at all times and in all respects be governed by the laws of the State of Oklahoma.

  

 6 

 c. Any action, suit or proceeding seeking to enforce any provision of, or based on any matter arising out
of or in connection with, this Agreement must only be brought in any federal court located in the State of Oklahoma or any Oklahoma state court, and each party consents to the non-exclusive jurisdiction and venue of such courts (and of the
appropriate appellate courts therefrom) in any such action, suit or proceeding and irrevocably waives, to the fullest extent permitted by law, any objection that it may now or hereafter have to the laying of the venue of any such, action, suit or
proceeding in any such court or that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum. Process in any such action, suit or proceeding may be served on any party anywhere in the world, whether
within or without the jurisdiction of any such court. 
  
 d. EACH
PARTY ACKNOWLEDGES THAT ANY DISPUTE THAT MAY ARISE OUT OF OR RELATING TO THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE SUCH PARTY HEREBY EXPRESSLY WAIVES ITS RIGHT TO JURY TRIAL OF ANY DISPUTE BASED UPON OR
ARISING OUT OF THIS AGREEMENT. THE SCOPE OF THIS WAIVER IS INTENDED TO ENCOMPASS ANY AND ALL ACTIONS, SUITS AND PROCEEDINGS THAT RELATE TO THE SUBJECT MATTER OF THIS AGREEMENT, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL
OTHER COMMON LAW AND STATUTORY CLAIMS. EACH PARTY REPRESENTS THAT (i) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT IN THE EVENT OF ANY ACTION, SUIT OR PROCEEDING,
SEEK TO ENFORCE THE FOREGOING WAIVER, (ii) SUCH PARTY UNDERSTANDS AND WITH THE ADVICE OF COUNSEL HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (iii) SUCH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (iv) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS
AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND REPRESENTATIONS IN THIS SECTION 11(d). 
  
 e. In the event of any litigation or dispute between the parties arising out of or in any way connected with this Agreement, resulting in any litigation,
then the prevailing party in such litigation shall be entitled to recover its costs of prosecuting and/or defending same, including, without limitation, reasonable attorneys’ fees at trial and all appellate levels. The provisions of this
Section 11(e) shall survive the expiration of this Agreement or its termination for any reason. 
  
 f. Employee for himself and his past, present, and future representatives, administrators, executors, employees, agents, consultants, principals,
attorneys, partners, joint venturers, affiliates, successors and assigns hereby fully and irrevocably release, acquit and discharge Employer and any of its affiliates and each of their respective past and present directors, officers, stockholders,
members, employees, agents, attorneys, affiliates, predecessors, successors and assigns (the “Released Parties”), from any and all claims, liabilities, damages, losses, obligations, rights, actions, defenses, debts, demands,
costs, contracts, security interests, allegations and causes of action, whether known or unknown, past or present, existing or potential, suspected or unsuspected, latent or patent, direct or indirect, at law or in equity 

  

 7 

 
(collectively “Claims”), which any of them had or now has, against the Released Parties, arising from or related to the Employment
Agreement, effective as of July 1, 2003, by and between Bronco Drilling Company, L.L.C. and Employee which has expired by its terms and is no longer in effect or binding upon the parties thereto (the “Old Employment
Agreement”) or otherwise other than Claims arising under this Agreement and the Letter Agreement by and between Bronco Drilling Holdings, L.L.C. and Employee. 
  
 g. All notices required or permitted herein must be in writing and shall be deemed to have been duly given on the date of
service if served personally or by telecopier, telex or other similar communication to the party or parties to whom notice is to be given, on the next day if notice is effected by overnight mail service, or on the third business day after mailing,
if mailed to the party or parties to whom notice is to be given by registered or certified mail, return receipt requested, postage pre-paid, to the address of such party, as set forth in the first paragraph of this Agreement, or to such other
addresses as any party to this Agreement may designate to the other from time to time for this purpose. Any communication, which is mailed by overnight mail or sent, by telecopier or telex shall be confirmed immediately, but failure to so confirm
shall not affect the effectiveness of such notice from and after the day on which such notice is actually received. 
  
 h. If any one or more of the terms, provisions, covenants or restrictions of this Agreement shall be determined by a court of competent jurisdiction to be
invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions shall remain in full force and effect, and the invalid, void or unenforceable provisions shall be deemed severable. Moreover, if any one or more of
the provisions contained in this Agreement shall for any reason be held to be excessively broad as to duration, geographical scope, activity or subject, it shall be reformed by limiting and reducing it to the minimum extent necessary, so as to be
enforceable to the extent compatible with the applicable law as it shall then appear. 
  
 i. This Agreement contains the entire agreement and understanding by and between Employer and Employee with respect to Employee’s employment by Employer as herein described, and supersedes all prior oral or
written agreements and understandings between the parties to this Agreement, relating to the subject matter of this Agreement, including without limitation the Old Employment Agreement. No change or modification of this Agreement shall be valid or
binding unless the same is in writing and signed by the party intending to be so bound. No waiver of any provision of this Agreement shall be valid unless the same is in writing and signed by the party against whom such waiver is sought to be
enforced. Moreover, no valid waiver of any provision of this Agreement, at any time, shall be deemed to be a waiver of any other provision of this Agreement at such time, or will be deemed a valid waiver of such provision at any other time.

  
 j. This Agreement may be executed in two (2) or more
counterparts, each of which shall be deemed an original, but all of which shall constitute but one and the same instrument. 
  
 k. Time shall be of the essence with respect to the performance by the parties hereto of their respective obligations hereunder. 
  
 [SIGNATURE PAGES FOLLOW] 
  

 8 

 IN WITNESS WHEREOF, Employer and Employee have duly executed this Agreement as of the day and year first
above written to be effective as of the date stated in the first paragraph above. 
  

			
	“EMPLOYER”
	
	BRONCO DRILLING COMPANY, INC.
	A Delaware corporation
		
	By:	 	 /s/    D. FRANK HARRISON

	 	 	D. Frank Harrison
	 	 	President and Chief Executive Officer
	
	“EMPLOYEE”
	
	  
 /s/    STEVEN C. HALE

	Steven C. Hale

  

 9

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