Document:

Exhibit 4.1

AMENDED AND RESTATED
CERTIFICATE OF INCORPORATION

OF

HELMERICH & PAYNE,
INC.

Pursuant
to Sections 242 and 245 of the Delaware General Corporation Law

Helmerich &
Payne, Inc. (the “Corporation”), a corporation organized and existing under the
General Corporation Law of the State of Delaware, does hereby certify as
follows:

(1)           The
name of the Corporation is Helmerich & Payne, Inc.  The original certificate of incorporation of
the Corporation was filed with the office of the Secretary of State of the
State of Delaware on February 3, 1940 under the name of Helmerich & Payne,
Inc.

(2)           This
Amended and Restated Certificate of Incorporation was duly adopted by the Board
of Directors of the Corporation and its stockholders in accordance with Sections
242 and 245 of the General Corporation Law of the State of Delaware.

(3)           This
Amended and Restated Certificate of Incorporation restates and integrates and
further amends the Restated Certificate of Incorporation of the Corporation, as
heretofore amended or supplemented.

(4)           The
text of the Restated Certificate of Incorporation, as heretofore amended or
supplemented, is amended and restated in its entirety as follows:

FIRST.  The name of the
corporation is HELMERICH & PAYNE, INC.

SECOND.  Its registered office in
the State of Delaware is located at No. 1209 Orange Street, in the City of Wil­mington,
County of New Castle.  The name and
address of its registered agent is The Corporation Trust Company, No. 1209
Orange Street, Wilmington, Delaware 19801.

THIRD.   The nature of the
business, or objects or purposes to be transacted, promoted or carried on are:

(a)           To carry
on the business of producing, procuring, acquiring, buying, selling and
otherwise disposing of and turning to account, and dealing in petroleum, crude
oil and gas of all grades, asphalt, paraffin, bitumen and bituminous substances
of all kinds, coal, natural gas, carbon and hydrocarbon products of all kinds,
together with any other substan­ces or by-products, and in general subsoil
products and surface products of every nature and description; and to acquire,
hold, and use any and all 

 

leases, licenses, easements, rights, grants,
concessions and real and personal property necessary or required for such
purposes;

(b)           To
prospect, explore and drill for, discover, produce, extract, mine, mill,
separate, convert, smelt, refine, dissolve, reduce, treat, manufacture, store
or otherwise turn to account, sell, exploit, transfer and otherwise dispose of
petroleum, oil and gas and each and every of the substances specified in the
foregoing clause (a), either in its natural form or in any altered or
manufactured form, or subdivided or by-product form;

(c)           To build,
construct, purchase or otherwise acquire and to conduct, operate and maintain
any plant or plants, machinery, devices, appliances and equipment for the
extraction or manufacture of gasoline, naphtha or other substance or
by-products from natural gas, casinghead gas or crude oil, and to purchase or
otherwise acquire, hold, own and use or dispose of any inventions, devices,
formulae, processes for the manufacture or extraction of gasoline, naphtha, or
other substances or products from gas, casinghead gas or crude oil, together
with any letters patent thereon and any and all improvements thereon; and to purchase
or otherwise acquire any and all natural gas and casinghead gas and crude oil
necessary to the use and operation of said plant or plants, and to vend, sell
or otherwise dispose of any and all of the products of such plant or plants,
and to purchase, lease or otherwise acquire, hold and use any and all real
estate and lands necessary for the sites and locations of said plant or plants
and the use and operation thereof;

(d)           To
purchase, buy, or otherwise acquire, hold, or prospect, develop, sell, assign
and deal in or otherwise dispose of oil, gas and mineral leases and oil, gas
and mineral rights, grants, royalties and privileges, together with all
personal property and equipment used in connection therewith; and to purchase,
buy, or otherwise acquire, and to hold, use, sell or otherwise dispose of, any
and all real estate and lands which may be necessary or required for the uses
and purposes of this corporation subject to the laws of the jurisdiction where
said lands and real estate are located;

(e)           To apply
for, obtain, register, purchase, devise, adopt, lease or otherwise acquire,
hold, own, use, operate, develop, introduce, lease, assign, pledge or otherwise
dispose of and contract with reference to any and all letters patent,
copyrights and trademarks, and any and all registrations or applications for
registration thereof, and any and all inventions, improvements, apparatus,
appliances, processes, formulae, designs, trade names or similar rights,
whether used in connection with or secured under letters patent of the United
States of America or of any other government or country, or otherwise; and to
use, exercise, develop, exploit or grant licenses with respect to or otherwise
turn to account any of the same, and to carry on any business (manufacturing,
merchandis­ing or 

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otherwise), which may be deemed to aid, effec­tuate or
develop the same, or any of them directly or indirectly;

(f)            To
acquire by lease, purchase, contract, concession or otherwise, and to own,
develop, explore, exploit, improve, operate, lease, enjoy, control, manage or
otherwise turn to account, mortgage, grant, sell, exchange, convey or otherwise
dispose of, either within or without the State of Delaware and in any country,
domestic or foreign, any and all real estate, lands, options, concessions,
grants, land patents, franchises, deposits, mines, mining rights, quarries,
locations, claims, rights, privileges, easements, tenements, estates,
hereditaments, interests and properties of every description and nature
whatsoever which the corporation may deem wise and proper in connection with
the conduct of any business or businesses enumerated in any of the clauses of
this Article THIRD:

(g)           To
construct, build, purchase, lease, equip or otherwise acquire, and to hold,
own, improve, develop, manage, maintain, control, lease, mortgage, create liens
upon, sell, convey or otherwise dispose of and turn to account:

(1)           any
and all plants, machinery, works, refineries, implements and things or
property, real or personal, of every kind and descriptions incidental to,
connected with or suitable or convenient for any of the purposes enumerated in
any of the clauses of this Article THIRD;

(2)           any
and all pipe lines, transmission lines, pumping stations, terminals, storage
tanks or reservoirs and all appurtenances relative thereto and necessary or
convenient in connection with any of the businesses enumerated in any of the
clauses of this Article THIRD;

(3)           any
and all tracks, locomotives, railroad cars, tank cars, motor cars, motor trucks
and vehicles of any and every description necessary or convenient in connection
with any of the businesses enumerated in any of the clauses of this Article
THIRD;

(4)           any
and all ships, docks, boats, floats, barges and vessels (whether operated by
steam, electric, oil, gasoline or any other power), docks, wharves, dry docks,
repair shops, elevators, piers, terminals, warehouses and storage plants,
facilities, connections and installations necessary or convenient for any of
the businesses enumerated in any of the clauses of this Article THIRD;

(h)           To
manufacture, purchase or otherwise acquire, own, mortgage, pledge, sell, assign
and transfer, or otherwise dispose of, to invest, trade, 

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deal in and deal with goods, wares and merchandise and
personal property of every class and description;

(i)            To
acquire, and pay for in cash, stock or bonds of this corporation or otherwise,
all or any part of the goodwill, rights, assets and property of any person,
firm, association or corporation; to undertake or assume the whole or any part
of the obligations or liabilities of any person, firm, association or
corporation; to hold or in any manner dispose of the whole or any part of the
rights and property so acquired; to conduct in any lawful manner the whole or
any part of any business so acquired, and to exercise all the powers necessary
or convenient and about the conduct and management of such business;

(j)            To
guarantee, purchase, hold, sell, assign, transfer, mortgage, pledge or
otherwise dispose of shares of the capital stock, bonds, debentures, notes,
obligations or evidences of indebtedness or other securities created, issued or
incurred by any other corporation or corporations organized under the laws of
this state or any other state, country, nation or government, or by joint stock
companies, trustees or other business organizations or entities, or by any
domestic or foreign state, government or governmental authority, or by any
political or administrative subdivision or department thereof, and to issue in
payment or exchange therefor, in whole or in part, its own shares, bonds,
debentures, notes or other obligations, or to make payment therefor by any
other lawful means, and, while the owner thereof, to exercise all the rights,
powers and privileges of ownership, including the right to vote thereon;

(k)           To enter
into, make and perform contracts of every kind and description with any person,
firm, association, corporation, municipality, county, state, body politic or
government or colony or dependency thereof;

(l)            To borrow
or raise moneys for any of the purposes of the corporation, and, from time to
time, without limit as to amount, to draw, make, accept, endorse, execute and
issue promissory notes, drafts, bills of exchange, warrants, bonds, debentures
and other negotiable or non-negotiable instruments and evidences of
indebtedness, and to secure the payment of any thereof and of the interest
thereon by mortgage upon or pledge, conveyance or assignment in trust of the
whole or any part of the property of the corporation, whether at the time owned
or thereafter acquired and to sell, pledge or otherwise dispose of such bonds
or other obligations of the corporation for its corporate purposes;

(m)          To buy,
sell or otherwise deal in notes, open accounts, and other similar evidences of
debt, or to loan money and take notes, open accounts, and other similar
evidences of debt as collateral security therefor;

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(n)           To
purchase, hold, sell and transfer the shares of its own capital stock; provided
it shall not use its funds or property for the purchase of its own shares of
capital stock when such use would cause any impairment of its capital except as
otherwise permitted by law, and provided further that shares of its own capital
stock belonging to it shall not be voted upon directly or indirectly;

(o)           To have
one or more offices, to carry on all or any of its operations and business and
without restriction or limit as to amount to purchase or otherwise acquire,
hold, own, mortgage, sell, convoy, or otherwise dispose of real and personal
property of every class and description in any of the States, Districts,
Territories or Colonies of the United States, and in any and all foreign
countries, subject to the laws of such State, District, Territory, Colony or
Country;

(p)           To do and
perform any or all of the above enumerated functions, purposes and acts, either
as principal or as agent, broker, contractor, independent contractor,
representative or otherwise, specifically including (without limiting the
generality of the foregoing) the right to carry on a general drilling
contracting business;

(q)           To
investigate, develop, consummate, undertake and carry on any enterprise,
business, transactions, or operation, commonly carried on or undertaken by
contractors, syndicates, merchants, importers, exporters, manufacturers,
printers, publishers, warehousers, brokers, or transporters, and generally, to
institute, enter into, carry on, assist, promote and participate in financial,
commercial, mercantile, and other business, works, contracts, undertakings and
operations, but only to the extent permitted by law;

(r)            To carry
on, and license others to carry on, all or any part of the several businesses
enumerated in this paragraph, to-wit: The business of: manufac­turers,
merchants, traders, importers, exporters, contractors, printers, publishers,
warehousers, and dealers in and with goods, wares, and merchandise of every
kind and description; of establishing, developing, operating and carrying on
industrial, commercial, trading, manufacturing, mechanical, metallurgical,
engineering, building, construction, contracting, mining, smelting, quarrying,
refining, chemical, ice, real estate, logging, lumbering, agricultural, planta­tion,
dairying, advertising, automotive, aviation, supply, cold storage, drug (both
ethical and proprietary) , cleaning, electrical, electronic, management, food,
food products, foundry, appliance, furniture, laundry, machinery, machine shop,
restaurant, equipment, instrument, instrumentation, baking, brewing,
distilling, apparel, packing, textile, amusement, entertainment, undertakings,
propositions, concessions or franchises; of constructing, developing, equipping
and improving, public, quasi-public, and private 

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works and conveniences; and, also, so far as necessary
or incidental to, or connected with any one or more or all of the corporate
purposes herein enumerated, to undertake any lawful business transaction or
operation undertaken or carried on by merchants, traders, manufacturers,
contractors, importers, exporters, entertainers, printers, publishers, warehousers,
commission men and agents;

(s)           In
general, to carry on any other business in connection with the foregoing, and
to have and exercise all the powers conferred by the laws of Delaware upon
corporations formed under the General Corporation Law of the State of Delaware,
and to do any or all of the things hereinbefore set forth to the same extent as
natural persons might or could do.

The objects and purposes specified in the foregoing
clauses shall, except where otherwise expressed, be in no wise limited or
restricted by reference to, or inference from, the terms of any other clause in
this certificate of incorporation, but the objects and purposes specified in
each of the foregoing clauses of this article shall be regarded as independent
objects and purposes.

FOURTH.  The total number of shares of all classes of
stock which the Corporation shall have authority to issue is 161,000,000 of
which 1,000,000 shares shall be Preferred Stock without par value, and the
remaining 160,000,000 shares shall be Common Stock of the par value of ten
cents (10¢) per share.

The following is a
statement of the designations, powers, preferences, and rights and the
qualifications, limitations or restrictions thereof, of the classes of stock of
the Corporation and the authority of the Board of Directors to fix the same.

I .

(1)           Shares
of Preferred Stock may be issued from time to time in one or more series as may
be determined from time to time by the Board of Directors, each such series to
be distinctly designated.  All shares of
any one series of Preferred Stock so designated by the Board of Directors shall
be alike in every particular.  The voting
rights, if any, of each such series, dividend rates, and preferences and
relative, participating, optional and other special rights of each such series
and the qualifications, limitations or restrictions thereof, if any, may differ
from those of any and all other series at any time outstanding; and, subject to
the provisions of Paragraphs (4) through (8) of this Part I, the Board of
Directors of the Corporation is hereby expressly granted authority to fix, by
resolutions duly adopted prior to the issuance of any shares of a particular
series of Preferred Stock so designated by the Board of Directors, the voting
powers of stock of such series, if any, and the designations, preferences and
relative, participating, optional and other special rights, and the
qualifications, limitations and restrictions of such series, including, but
without limiting the generality of the foregoing, the following:

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(a)           The rate and times at
which, and the terms and conditions on which, dividends on Preferred Stock of
such series will be paid;

(b)           The right, if any, of
the holders of Preferred Stock of such series to convert the same into, or exchange
the same for, shares of other classes or series of stock of the Corporation and
the terms and condi­tions of such conversion or exchange;

(c)           The redemption price or
prices and the time or time at which, and the terms and conditions on which,
Preferred Stock of such series may be redeemed;

(d)           The rights of the
holders of Preferred Stock of such series upon the voluntary or involuntary
liquidation, dissolution, or winding-up, or merger, consolidation, distribution
or sale of assets, of the Corporation;

(e)           The terms of the
sinking fund or redemption or purchase account, if any, to be provided for the
Preferred Stock of such series; and

(f)            Provisions, if any,
for the vote or consent of the holders of a stated percentage of the
outstanding shares of Preferred Stock of such series with respect to changes in
the rights, preferences or limitations of the shares of such series, or the
designation or issuance of series of the Preferred Stock by the Board of
Directors, or the authorization or issuance of other classes or series of
Preferred Stock;

provided, however, that
the holders of shares of Preferred Stock shall have no right to participate
with the holders of Common Stock in any distribution of dividends in excess of
the preferential dividend fixed for such Preferred Stock or in the assets of
the Corporation available for distribution to stockholders in excess of the
preferential amount fixed for such Preferred Stock.

(2)           Until
requirements that have matured with respect to preferential dividends on the
Preferred Stock (fixed in accordance with the provisions of Paragraph (1) of
this Part I) shall have been met and until the Corporation shall have complied
with all such requirements, if any, with respect to the setting aside of sums
as sinking funds or redemption or purchase accounts with respect to the
Preferred Stock (fixed in accordance with the provisions of Paragraph (1) of
this Part I) , no dividend or distribution shall be paid or declared upon or in
respect of any Common Stock.

(3)           Until
distribution in full of the preferential amount to be distributed to the
holders of Preferred Stock (fixed in accordance with the provisions of
Paragraph (1) of this Part I) in the event of voluntary or involuntary
liquidation, dissolution or winding-up of the Corporation, no such distribution
shall be made to the holders of Common Stock.

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(4)           No
holder of Preferred Stock of the Corporation shall have any preemptive or
preferential right of subscrip­tion to any shares of any stock of the
Corporation of any class, now or hereafter authorized, or to any obligations
convertible into stock of the Corporation, issued or sold, nor any right of
subscription to any thereof other than such, if any, as the Board of Directors
of the Corporation in its discretion from time to time may determine, and at
such price as the Board of Directors from time to time may fix, pursuant to the
authority hereby conferred by the Certificate of Incorporation, and the Board
of Directors may issue stock of the Corporation, or obligations convertible into
stock, without offering such issue of stock or such obligations either in whole
or in part, to the holders of Preferred Stock of the Corporation.

(5)           The
powers and rights of the holders of Common Stock shall be subordinated to the
powers, preferences and rights of the holders of Preferred Stock.  The relative powers, preferences and rights
of each series of Preferred Stock in relation to the powers, preferences and
rights of each other series of Preferred Stock shall, in each case, be as fixed
from time to time by the Board of Directors pursuant to authority granted in
the Certificate of Incorporation; provided, however, that except as may be
provided by law and except as set forth in Paragraph (6) and Paragraph (7) of
this Part I, no holder of shares of Preferred Stock of any series shall be
entitled to more than one vote in respect of each share of such stock held by
him on any matter voted on by stockholders other than elections of directors,
in which case the Board of Directors may accord cumulative voting rights to
holders of shares of any Preferred Stock.

(6)           Notwithstanding
the provisions of Paragraph (5) of this Part I, the Board of Directors, acting
pursuant to authority granted in this Certificate of Incorporation in respect
of any series of Preferred Stock, may provide that if this Corporation shall
have defaulted in the payment of dividends on any such series of Preferred
Stock in an amount equivalent to or exceeding six full quarterly dividends
(whether or not consecutive) or the Corporation shall have defaulted in making
any two mandatory sinking fund payments on any such series of Preferred Stock,
the holders of one or more or all of such series of Preferred Stock in respect
of which any such default shall have occurred (voting as a single class) shall
be entitled to elect, in the aggregate, not more than two directors.

(7)           The
issuance of shares of any series of Preferred Stock by the Board of Directors
of the Corporation shall be subject to such limitations and restrictions as may
be provided for in the Certificate of Incorporation or by the Board of
Directors, pursuant to authority granted in the Certificate of Incorporation,
including provision for the consent, by class vote, of the holders of a stated
percentage of the outstanding shares of any series of Preferred Stock.

(8)           Subject
to the provisions of Paragraph (7) of this Part I, shares of any series of
Preferred Stock may be authorized or issued, in aggregate amounts not exceeding
the total number of shares of Preferred Stock authorized by the Certificate of
Incorporation, from time to time as the Board of Directors of the Corporation
shall determine and for such consideration as shall be fixed by the Board of
Directors.

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II.

Subject
to the prior and superior rights of the Preferred Stock, and on the conditions
set forth in the foregoing Part I or in any resolution of the Board of
Directors providing for the issuance of any particular series of Preferred
Stock, and not otherwise, such dividends (payable in cash, stock or otherwise)
as may be determined by the Board of Directors may be declared and paid on the
Common Stock from time to time of any funds legally available therefor.

The
holders of the Common Stock shall be entitled to one vote for each share held
at all meetings of the stockholders of the Corporation.

After
payment shall have been made in full to the holders of the Preferred Stock in
the event of any liquidation, dissolution or winding up of the affairs of the
Corporation, the remaining assets and funds of the Corporation shall be
distributed among the holders of the Common Stock according to their respective
shares.

III.

Ownership
of shares of any class of the capital stock of the Corporation shall not
entitle the holders thereof to any preemptive right to subscribe for or purchase
any additional shares of capital stock of any class of the Corporation or any
securities convertible into any class of capital stock of the Corporation,
however acquired, issued or sold by the corporation, it being the purpose and
intent that the Board of Directors shall have full right, power and authority
to offer for subscription or sell or to make any disposal of any or all
unissued shares of the capital stock of the corporation or any securities
convertible into stock of any or all shares of stock or convertible securities
issued and thereafter acquired by the corporation, for such consideration, not
less than the par value thereof, in money or property, as the Board of
Directors shall determine.

IV.

The
Corporation shall be entitled to treat the person in whose name any share,
right or option is registered as the owner thereof, for all purposes, and shall
not be bound to recognize any equitable or other claim to, or interest in, such
share, right or option on the part of any other person, whether or not the
corporation shall have notice thereof, save as may be expressly provided by
laws of the State of Delaware.

FIFTH.  The Corporation is to have perpetual
existence.

SIXTH.  The private property of the stockholders
shall not be subject to the payment of corporate debts to any extent whatever.

SEVENTH.  In furtherance and not in limitation of the
powers conferred by statute, and in addition to the powers which may be
conferred by the By-Laws, the Board 

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of Directors of
the Corporation shall have the following expressly stipulated powers and
authority, to-wit:

To make, alter or repeal the By-Laws of the
Corporation.

To authorize and cause to be executed mortgages and
liens upon the real and personal property of the Corporation.

To set apart out of any of the funds of the
Corporation available for dividends a reserve or reserves for any proper
purpose and to abolish any such reserve in the manner in which it was created.

By resolution or resolutions, passed by a majority of
the whole board to designate one or more committees, each committee to consist
of two or more of the directors of the Corporation, which, to the extent
provided in said resolution or resolutions or in the By-Laws of the
Corporation, shall have and may exercise the powers of the Board of Directors
in the management of the business and affairs of the Corporation, and may have
power to authorize the seal of the Corporation to be affixed to all papers
which may require it.  Such committee or
committees shall have such name or names as may be stated in the By-Laws of the
Corporation or as may be determined from time to time by resolution adopted by
the Board of Directors.

When and as authorized by the affirmative vote of the
holders of a majority of the stock issued and outstanding having voting power
given at a stockholders meeting duly called for that purpose, or when
authorized by the written consent of the holders of a majority of the voting
stock issued and outstanding, to sell, lease or exchange all of the property
and assets of the corporation, including its good will and its corporate
franchises, upon such terms and conditions and for such consideration, which
may be in whole or in part shares of stock in, and/or other securities of, any
other corporation or corporations, as its Board of Directors shall deem
expedient and for the best interests of the corporation.

Also, the
corporation may in its By-Laws confer powers upon its Board of Directors in
addition to the foregoing, and in addition to the powers and authorities
expressly conferred upon it by statute.

EIGHTH.  The corporation shall be entitled to treat
the person in whose name any share is registered as the owner thereof for all
purposes, and shall not be bound to recognized any equitable or other claims
to, or interest in, such share on the part of any other person, whether or not
the corporation shall have notice thereof, except as otherwise expressly
provided by the statutes of the State of Delaware.

NINTH.  The number of Directors which constitute the
whole Board of Directors of the Corporation shall be such as from time to time
shall be fixed by or in the manner provided in the By-Laws, but in no case
shall the number be less than three. 
Vacancies in 

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the Board of
Directors, whether created by increase in the number of Directors or otherwise,
shall be filled in the manner provided in the By-Laws.  The Directors shall be divided into three
classes.  At the Annual Meeting of
Stockholders in 1970, one class of Directors, composed of three Directors to be
known as the “first class”, shall be elected for a one-year term; one class
composed of two directors to be known as the “second class” shall be elected
for a two-year term; and one class, composed of two directors, to be known as
the “third class”, shall be elected for a three-year term.  At each succeeding Annual Meeting of
Stockholders, successors to the class of Directors, whose term expires in that
year, will be elected for a three-year term. 
Vacancies in any class that occur prior to the expiration of the then
current term of such class, if filled by the Board of Directors, shall be
filled for the remainder of the full term of such class.  If the number of Directors is hereafter
changed, any increase or decrease in Directors shall be apportioned among the
classes so as to establish or maintain equality in number among the classes and
any additional Director elected to any class shall hold office for a term which
shall coincide with the term of such class. 
Where the number of Directors constituting the whole board is such that
it is impossible to establish or maintain complete equality in number among the
classes, the increase or decrease in Directors shall be apportioned among the
classes so as to maintain all classes as nearly equal in number as possible and
so that the third class does not have more members than either the first or
second class, and the second class does not have more members than the first
class.

TENTH.  Whenever a compromise or arrangement is
proposed between this Corporation and its creditors or any class of them and/or
between this Corporation and its stockholders or any class of them, any court
of equitable jurisdiction within the State of Delaware may, on the application
in a summary way of this Corporation or of any creditor or stockholder thereof,
or on the application of any receiver or receivers appointed for this
Corporation under the provisions of Section 3883 of the Revised Code of 1915 of
said State, or on the application of trustees in dissolution or of any receiver
or receivers appointed for this Corporation under the provisions of Section 43
of the General Corporation Law of the State Delaware, order a meeting of the
creditors or class of creditors, and/or of the stockholders or class of
stockholders of this Corporation, as the case may be, to be summoned in such
manner as the said Court directs.  If a
majority in number representing three-fourths in value of the creditors or
class of creditors, and/or of the stockholders or class of stockholders of this
Corporation, as the case may be, agree to any compromise or arrangement, and to
any reorganization of this Corporation as consequence of such compromise or
arrangement, the said arrangement and the said reorganization shall, if
sanctioned by the Court to which the said application has been made, be binding
on all the creditors or class of creditors, and/or on all the stockholders or
class of stockholders, of this Corporation, as the case may be, and also on
this Corporation.

ELEVENTH.  No contract or other transaction of the
Corporation with any other corporation or with any association, partnership,
firm, trustee, syndicate or individual shall be affected or invalidated by
reason of the fact that any of the directors of the Corporation is or are
parties to or interested in such contract or transaction or such other
corporation or such association, partnership, firm, trustee, syndicate or
individual; any 

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director of the
Corporation may be a party to any contract or transaction with the Corporation,
or may be pecuniarily or otherwise interested in any contract or other
transaction of the Corporation with any other corporation or with any
association, partnership, firm, trustee, syndicate or individual, provided that
the fact that he shall be a party to such contract or transaction or shall be
so interested shall have been disclosed or shall have been known to the Board
of Directors of the Corporation, or to the approving majority thereof; and any
director of the Corporation who is a party to or is pecuniarily or otherwise
interested in such contract or transaction may be included in determining the
existence of a quorum at any meeting of the Board of Directors which shall
authorize, ratify or approve any such contract or transaction, and may vote
thereat to authorize, ratify or approve such contract or transaction, with like
force and effect as if he were not a party to or so interested in such contract
or transaction.

TWELFTH.  Meetings of stockholders may be held without
the State of Delaware, if the By-Laws so provide.  The books of the Corporation may be kept
(subject to any provision contained in the statutes) outside of the State of
Delaware at such place or places as may be from time to time designated by the
Board of Directors.

THIRTEENTH.  The Corporation reserves the right to amend,
alter, change or repeal any provision contained in this certificate of
incorporation, in the manner now or hereafter prescribed by statute, and all
rights conferred upon stockholders herein are granted subject to this
reservation.

FOURTEENTH:

1.             Elimination
of Certain Liability of Directors.  A
director of the Corporation shall not be personally liable to the Corporation
or its stockholders for monetary damages for breach of fiduciary duty as a
director, except for liability (i) for any breach of the director’s duty of
loyalty to the Corporation or its stockholders, (ii) for acts or omissions not
in good faith or which involve intentional misconduct or a knowing violation of
law, (iii) under Section 174 of the Delaware General Corporation Law, or (iv)
for any transaction from which the director derived an improper personal
benefit.

2.             Indemnification
and Insurance.

(a)           Right
to Indemnification.  Each person who
was or is made a party or is threatened to be made a party to or is involved in
any action, suit or proceeding, whether civil, criminal, administrative or
investigative (hereinafter a “proceeding”), by reason of the fact that he or
she, or a person of whom he or she is the legal representative, is or was a
director or officer, of the Corporation or is or was serving at the request of
the Corporation as a director, officer, employee or agent of another
corporation or a partnership, joint venture, trust or other enterprise,
including service with respect to employee benefit plans, whether the basis of
such proceeding is alleged action in an official capacity as a director,
officer, employee or agent or in any other capacity while serving as a
director, officer, employee or agent, shall be indemnified and held harmless by
the 

 12
  
 

 

Corporation to the fullest extent authorized by the
Delaware General Corporation Law, as the same exists or may hereafter be
amended (but, in the case of any such amendment, only to the extent that such
amendment permits the Corporation to provide broader indemnification rights
than said law permitted the Corporation to provide prior to such amendment),
against all expense, liability and loss (including attorneys’ fees, judgments,
fines, ERISA excise taxes or penalties and amounts paid or to be paid in
settlement) reasonably incurred or suffered by such person in connection
therewith and such indemnification shall continue as to a person who has ceased
to be a director, officer, employee or agent and shall inure to the benefit of
his or her heirs, executors and administrators:   PROVIDED, HOWEVER, that, except as provided
in paragraph (b) hereof, the Corporation shall indemnify any such person
seeking indemnification in connection with a proceeding (or part thereof)
initiated by such person only if such proceeding (or part thereof) was
authorized by the board of directors of the Corporation.  The right to indemnification conferred in
this Section shall be a contract right and shall include the right to be paid
by the Corporation the expenses incurred in defending any such proceeding in
advance of its final disposition:  
PROVIDED, HOWEVER, that, if the Delaware General Corporation Law
requires, the payment of such expenses incurred by a director or officer in his
or her capacity as a director or officer (and not in any other capacity in
which service was or is rendered by such person while a director or officer,
including, without limitation, service to an employee benefit plan) in advance
of the final disposition of a proceeding, shall be made only upon delivery to
the Corporation of an undertaking, by or on behalf of such director or officer,
to repay all amounts so advanced if it shall ultimately be determined that such
director or officer is not entitled to be indemnified under this Section or
otherwise.  The Corporation may, by
action of its Board of Directors, provide indemnification to employees and
agents of the Corporation with the same scope and effect as the foregoing
indemnification of directors and officers.

(b)           Right
of Claimant to Bring Suit.  If a
claim under paragraph (a) of this Section is not paid in full by the
Corporation within thirty (30) days after a written claim has been received by
the Corporation, the claimant may at any time thereafter bring suit against the
Corporation to recover the said amount of the claim and, if successful in whole
or in part, the claimant shall be entitled to be paid also the expense of
prosecuting such claim.  It shall be a
defense to any such action (other than an action brought to enforce a claim for
expenses incurred in defending any proceeding in advance of its final
disposition where the required undertaking, if any is required, has been
tendered to the Corporation) that the claimant has not met the standards of
conduct which make it permissible under the Delaware General Corporation Law
for the Corporation to indemnify the claimant for the amount claimed, but the
burden of proving such defense shall be on the Corporation.  Neither the failure of the Corporation
(including its Board of Directors, independent legal counsel, or its
stockholders) to have made a determination prior to the commencement of such
action that indemnification of the claimant is proper in the circumstances
because he or she has met the 

 13
  
 

 

applicable standard of conduct set forth in the
Delaware General Corporation Law, nor an actual determination by the
Corporation (including its Board of Directors, independent legal counsel, or
its stockholders) that the claimant has not met such applicable standard or
conduct, shall be a defense to the action or create a presumption that the claimant
has not met the applicable standard of conduct.

(c)           Non-Exclusivity
of Rights.  The right to
indemnification and the payment of expense incurred in defending a proceeding
in advance of its final disposition conferred in this Section shall not be exclusive
of any other right which any person may have or hereafter acquire under any
statute, provision of the Certificate of Incorporation, by-law, agreement, vote
of stockholders or disinterested directors or otherwise.

(d)           Insurance.  The Corporation may maintain insurance, at
its expense, to protect itself and any director, officer, employee or agent of
the Corporation or another corporation, partnership, joint venture, trust or
other enterprise against any such expense, liability or loss, whether or not the
Corporation would have the power to indemnify such person against such expense,
liability or loss under the Delaware General Corporation Law.

FIFTEENTH.  The affirmative vote of at least two-thirds
of the total outstanding stock of the Corporation entitled to vote thereon
shall be required in order for the Corporation to:

(a)           Merge,
and/or consolidate with any other corporation except in those cases where at
least 90% of the outstanding shares of each class of stock of such other
corporation is owned by this Corporation; or

(b)           Sell,
lease, exchange, transfer or otherwise dispose of all or substantially all of
its assets or business.

The
affirmative vote of at least three-fourths of the total outstanding stock of
the Corporation entitled to vote thereon shall be required in order for the
Corporation to:

(a)           Sell,
lease, exchange, transfer or otherwise dispose of all or substantially all of
its assets or business to a related corporation or an affiliate of a related
corporation; or

(b)           Merge with
a related corporation or an affiliate of a related corporation; or

(c)           Enter into
a combination or majority share acquisition in which this Corporation is the
acquiring corporation and its voting shares are issued or transferred to a
related corporation or an affiliate of a related corporation or to stockholders
of a related corporation or an affiliate of a related corporation.

 14
  
 

 

For the purpose of
this Article FIFTEENTH, (i) a “related corporation” in respect of a given
transaction shall be any corporation which, together with its affiliates and
associated persons, owns of record or beneficially, directly or indirectly,
more than 5% of the shares of any outstanding class of stock of this
Corporation entitled to vote upon such transaction, as of the record date used to
determine the stockholders of the Corporation entitled to vote upon such
transaction; (ii) an “affiliate” of a related corporation shall be any
individual, joint venturer, trust, partnership or corporation which directly or
indirectly, through one or more intermediaries, controls or is controlled by,
or is under common control with the related corporation; (iii) an “associated
person” of a related corporation shall be any officer or director or any
beneficial owner, directly or indirectly, of 10% or more of any class of equity
security, of such related corporation or any of its affiliates.  The determination of the Board of Directors
of this Corporation and made in good faith shall be conclusive as to whether
any corporation is a related corporation as defined in this Article FIFTEENTH.

IN WITNESS
WHEREOF, the Corporation has caused this Amended and Restated Certificate of
Incorporation to be executed on its behalf this 23rd day of June, 2006.

	
  

  	
  HELMERICH & PAYNE, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ Steven R. Mackey

  	
   

  
	
   

  	
  Name:

  	
  Steven R. Mackey

  
	
   

  	
  Title:

  	
  Vice President, Secretary

  
	
   

  	
   

  	
  and General Counsel

  
				

 

 15Exhibit 4.3

CERTIFICATE OF
DESIGNATION, PREFERENCES

AND RIGHTS OF
SERIES A JUNIOR

PARTICIPATING PREFERRED STOCK

of

HELMERICH & PAYNE, INC.

Pursuant to Section 151 of the General Corporation Law
of the State of Delaware

The undersigned
officer of Helmerich & Payne, Inc., a corporation organized and existing
under the General Corporation Law of the State of Delaware, in accordance with
the provisions of Section 103 thereof, DOES HEREBY CERTIFY:

That pursuant to
the authority conferred upon the Board of Directors by the Restated Certificate
of Incorporation of the said Corporation, the said Board of Directors on
January 8, 1996 adopted the following resolution creating a series of 60,000
shares of Preferred Stock designated as Series A Junior Participating Preferred
Stock:

RESOLVED, that
pursuant to the authority vested in the Board of Directors of this Corporation
in accordance with the provisions of its Restated Certificate of Incorporation,
a series of Preferred Stock of the Corporation be and it hereby is created, and
that the designation and amount thereof and the voting powers, preferences and
relative, participating, optional and other special rights of the shares of
such series, and the qualifications, limitations or restrictions thereof are as
follows:

Section 1.               Designation
and Amount.  The shares of such
series shall be designated as “Series A Junior 
Participating Preferred Stock” and the number of shares constituting
such series shall be 60,000.

Section 2.               Dividends
and Distributions.

(A)          The
holders of shares of Series A Junior Participating Preferred Stock shall be
entitled to receive, when, as and if declared by the Board of Directors out of
funds legally available for the purpose, quarterly dividends payable in cash on
the last day of March, June, September and December in each year (each such
date 

 

being referred to herein
as a “Quarterly Dividend Payment Date”), commencing on the first Quarterly
Dividend Payment Date after the first issuance of a share or fraction of a
share of Series A Junior Participating Preferred Stock, in an amount per share
(rounded to the nearest cent) equal to the greater of (a) $125 or (b) subject
to the provision for adjustment hereinafter set forth, 1,000 times the
aggregate per share amount of all cash dividends, and 1,000 times the aggregate
per share amount (payable in kind) of all non-cash dividends or other
distributions other than a dividend payable in shares of Common Stock or a
subdivision of the outstanding shares of Common Stock (by reclassification or
otherwise), declared on the Common Stock, par value $0.10 per share, of the
Corporation (the “Common Stock”) since the immediately preceding Quarterly
Dividend Payment Date, or, with respect to the first Quarterly Dividend Payment
Date, since the first issuance of any share or fraction of a share of Series A
Junior Participating Preferred Stock.  In
the event the Corporation shall at any time after January 8, 1996 (the “Rights
Declaration Date”) (i) declare any dividend on Common Stock payable in shares
of Common Stock, (ii) subdivide the outstanding Common Stock, or (iii) combine
the outstanding Common Stock into a smaller number of shares, then in each such
case the amount to which holders of shares of Series A Junior Participating
Preferred Stock were entitled immediately prior to such event under clause (b)
of the preceding sentence shall be adjusted by multiplying such amount by a
fraction the numerator of which is the number of shares of Common Stock
outstanding immediately after such event and the denominator of which is the
number of shares of Common Stock that were outstanding immediately prior to
such event.

(B)           The
Corporation shall declare a dividend or distribution on the Series A Junior
Participating Preferred Stock as provided in Paragraph (A) above immediately
after it declares a dividend or distribution on the Common Stock (other than a
dividend payable in shares of Common Stock); provided that, in the event no
dividend or distribution shall have been declared on the Common Stock during
the period between any Quarterly Dividend Payment Date and the next subsequent
Quarterly Dividend Payment Date, a dividend of $125 per share on the Series A
Junior Participating Preferred Stock shall nevertheless be payable on such
subsequent Quarterly Dividend Payment Date.

(C)           Dividends
shall begin to accrue and be cumulative on outstanding shares of Series A
Junior Participating Preferred Stock from the Quarterly Dividend Payment Date
next preceding the date of issue of such shares of Series A Junior
Participating Preferred Stock, unless the date of issue of such shares is prior
to the record 

 2
 

 

date for the first
Quarterly Dividend Payment Date, in which case dividends on such shares shall
begin to accrue from the date of issue of such shares, or unless the date of
issue is a Quarterly Dividend Payment Date or is a date after the record date
for the determination of holders of shares of Series A Junior Participating
Preferred Stock entitled to receive a quarterly dividend and before such
Quarterly Dividend Payment Date, in either of which events such dividends shall
begin to accrue and be cumulative from such Quarterly Dividend Payment
Date.  Accrued but unpaid dividends shall
not bear interest.  Dividends paid on the
shares of Series A Junior Participating Preferred Stock in an amount less than
the total amount of such dividends at the time accrued and payable on such
shares shall be allocated pro rata on a share-by-share basis among
all such shares at the time outstanding. 
The Board of Directors may fix a record date for the determination of
holders of shares of Series A Junior Participating Preferred Stock entitled to
receive payment of a dividend or distribution declared thereon, which record
date shall be no more than 30 days prior to the date fixed for the payment thereof.

Section 3.               Voting
Rights.  The holders of shares of
Series A Junior Participating Preferred Stock shall have the following voting
rights:

(A)          Subject
to the provision for adjustment hereinafter set forth, each share of Series A
Junior Participating Preferred Stock shall entitle the holder thereof to 1,000
votes on all matters submitted to a vote of the stockholders of the
Corporation.  In the event the
Corporation shall at any time after the Rights Declaration Date (i) declare any
dividend on Common Stock payable in shares of Common Stock, (ii) subdivide the
outstanding Common Stock, or (iii) combine the outstanding Common Stock into a
smaller number of shares, then in each such case the number of votes per share
to which holders of shares of Series A Junior Participating Preferred Stock
were entitled immediately prior to such event shall be adjusted by multiplying
such number by a fraction the numerator of which is the number of shares of
Common Stock outstanding immediately after such event and the denominator of
which is the number of shares of Common Stock that were outstanding immediately
prior to such event.

(B)           Except
as otherwise provided herein or by law, the holders of shares of Series A
Junior Participating Preferred Stock and the holders of shares of Common Stock
shall vote together as one class on all matters submitted to a vote of
stockholders of the Corporation.

 3
 

 

(C)           (i)            If
at any time dividends on any Series A Junior Participating Preferred Stock
shall be in arrears in an amount equal to six (6) quarterly dividends thereon,
the occurrence of such contingency shall mark the beginning of a period (herein
called a “default period”) which shall extend until such time when all accrued
and unpaid dividends for all previous quarterly dividend periods and for the
current quarterly dividend period on all shares of Series A Junior
Participating Preferred Stock then outstanding shall have been declared and
paid or set apart for payment.  During
each default period, all holders of Preferred Stock (including holders of the
Series A Junior Participating Preferred Stock) with dividends in arrears in an
amount equal to six (6) quarterly dividends thereon, voting as a class,
irrespective of series, shall have the right to elect two (2) directors.

(ii)           During
any default period, such voting right of the holders of Series A Junior
Participating Preferred Stock may be exercised initially at a special meeting
called pursuant to subparagraph (iii) of this Section 3(C) or at any annual
meeting of stockholders, and thereafter at annual meetings of stockholders,
provided that such voting right shall not be exercised unless the holders of
ten percent (10%) in number of shares of Preferred Stock outstanding shall be
present in person or by proxy.  The
absence of a quorum of the holders of Common Stock shall not affect the
exercise by the holders of Preferred Stock of such voting right.  At any meeting at which the holders of
Preferred Stock shall exercise such voting right initially during an existing
default period, they shall have the right, voting as a class, to elect
directors to fill such vacancies, if any, in the Board of Directors as may then
exist up to two (2) directors or, if such right is exercised at an annual
meeting, to elect two (2) directors.  If
the number which may be so elected at any special meeting does not amount to
the required number, the holders of the Preferred Stock shall have the right to
make such increase in the number of directors as shall be necessary to permit
the election by them of the required number. 
After the holders of the Preferred Stock shall have exercised their
right to elect directors in any default period and during the continuance of
such period, the number of directors shall not be increased or decreased 

 4
 

 

except by vote of the holders of Preferred Stock as
herein provided or pursuant to the rights of any equity securities ranking
senior to or pari  passu with the Series A Junior Participating
Preferred Stock.

(iii)          Unless
the holders of Pre-ferred Stock shall, during an existing default period, have
previously exercised their right to elect directors, the Board of Directors may
order, or any stockholder or stockholders owning in the aggregate not less than
ten percent (10%) of the total number of shares of Pre-ferred Stock outstanding,
irrespective of series, may request, the calling of special meeting of the
holders of Preferred Stock, which meeting shall thereupon be called by the
President, a Vice-President or the Secretary of the Corporation.  Notice of such meeting and of any annual
meeting at which holders of Preferred Stock are entitled to vote pursuant to
this Paragraph (C)(iii) shall be given to each holder of record of Preferred
Stock by mailing a copy of such notice to him or her at his or her last address
as the same appears on the books of the Corporation.  Such meeting shall be called for a time not
earlier than 20 days and not later than 60 days after such order or request or
in default of the calling of such meeting within 60 days after such order or
request, such meeting may be called on similar notice by any stockholder or
stockholders owning in the aggregate not less than ten percent (10%) of the
total number of shares of Pre-ferred Stock outstanding.  Notwithstanding the provisions of this
Paragraph (C)(iii), no such special meeting shall be called during the period
within 60 days immediately preceding the date fixed for the next annual meeting
of the stockholders.

(iv)          In
any default period, the holders of Common Stock, and other classes of stock of
the Corporation if applicable, shall continue to be entitled to elect the whole
number of directors until the holders of Preferred Stock shall have exercised
their right to elect two (2) directors voting as a class, after the exercise of
which right (x) the directors so elected by the holders of Preferred Stock
shall continue in office until their successors shall have been elected by such
holders or until the expiration of the default period, and (y) any 

 5
 

 

vacancy in the Board of Directors may (except as
provided in Paragraph (C)(ii) of this Section 3) be filled by vote of a
majority of the remaining directors theretofore elected by the holders of the
class of stock which elected the Director whose office shall have become
vacant.  References in this Paragraph (C)
to directors elected by the holders of a particular class of stock shall
include directors elected by such directors to fill vacancies as provided in
clause (y) of the foregoing sentence.

(v)           Immediately
upon the expiration of a default period, (x) the right of the holders of
Preferred Stock as a class to elect directors shall cease, (y) the term of any
directors elected by the holders of Preferred Stock as a class shall terminate,
and (z) the number of directors shall be such number as may be provided for in the
certificate of incorporation or by-laws irrespective of any increase made
pursuant to the provisions of Paragraph (C)(ii) of this Section 3 (such number
being subject, however, to change thereafter in any manner provided by law or
in the certificate of incorporation or by-laws).  Any vacancies in the Board of Directors
effected by the provisions of clauses (y) and (z) in the preceding sentence may
be filled by a majority of the remaining directors.

(D)          Except as set forth herein, holders of
Series A Junior Participating Preferred Stock shall have no special voting
rights and their consent shall not be required (except to the extent they are
entitled to vote with holders of Common Stock as set forth herein) for taking
any corporate action.

Section 4.               Certain
Restrictions.

(A)          Whenever
quarterly dividends or other dividends or distributions payable on the Series A
Junior Participating Preferred Stock as provided in Section 2 are in arrears,
thereafter and until all accrued and unpaid dividends and distributions,
whether or not declared, on shares of Series A Junior Participating Preferred
Stock outstanding shall have been paid in full, the Corporation shall not

(i)            declare
or pay dividends on, make any other distributions on, or redeem or purchase or
otherwise 

 6
 

 

acquire for consideration any shares of stock ranking
junior (either as to dividends or upon liquidation, dissolution or winding up)
to the Series A Junior Participating Preferred Stock;

(ii)           declare
or pay dividends on or make any other distributions on any shares of stock
ranking on a parity (either as to dividends or upon liquidation, dissolution or
winding up) with the Series A Junior Participating Preferred Stock, except
dividends paid ratably on the Series A Junior Participating Preferred Stock and
all such parity stock on which dividends are payable or in arrears in
proportion to the total amounts to which the holders of all such shares are
then entitled;

(iii)          redeem
or purchase or otherwise acquire for consideration shares of any stock ranking
on a parity (either as to dividends or upon liquidation, dissolution or winding
up) with the Series A Junior Participating Preferred Stock, provided that the
Corporation may at any time redeem, purchase or otherwise acquire shares of any
such parity stock in exchange for shares of any stock of the Corporation
ranking junior (either as to dividends or upon dissolution, liquidation or
winding up) to the Series A Junior Participating Preferred Stock; or

(iv)          purchase
or otherwise acquire for consideration any shares of Series A Junior
Participating Preferred Stock, or any shares of stock ranking on a parity with
the Series A Junior Participating Preferred Stock, except in accordance with a
purchase offer made in writing or by publication (as determined by the Board of
Directors) to all holders of such shares upon such terms as the Board of
Directors, after consideration of the respective annual dividend rates and
other relative rights and preferences of the respective series and classes,
shall determine in good faith will result in fair and equitable treatment among
the respective series or classes.

(B)           The
Corporation shall not permit any subsidiary of the Corporation to purchase or
otherwise acquire for consideration any shares of stock of the Corporation
unless the Corporation could, 

 7
 

 

under Paragraph (A) of
this Section 4, purchase or otherwise acquire such shares at such time and in
such manner.

Section 5.               Reacquired
Shares.  Any shares of Series A
Junior Participating Preferred Stock purchased or otherwise acquired by the
Corporation in any manner whatsoever shall be retired and cancelled promptly
after the acquisition thereof.  All such
shares shall upon their cancellation become authorized but unissued shares of
Preferred Stock and may be reissued as part of a new series of Preferred Stock
to be created by resolution or resolutions of the Board of Directors, subject
to the conditions and restrictions on issuance set forth herein.

Section 6.               Liquidation,
Dissolution or Winding Up.  (A)  Upon any liquidation (voluntary or
otherwise), dissolution or winding up of the Corporation, no distribution shall
be made to the holders of shares of stock ranking junior (either as to
dividends or upon liquidation, dissolution or winding up) to the Series A
Junior Participating Preferred Stock unless, prior thereto, the holders of
shares of Series A Junior Participating Preferred Stock shall have  received $1,000 per share, plus an amount
equal to accrued and unpaid dividends and distributions thereon, whether or not
declared, to the date of such payment (the “Series A Liquidation Preference”).  Following the payment of the full amount of
the Series A Liquidation Preference, no additional distributions shall be made
to the holders of shares of Series A Junior Participating Preferred Stock
unless, prior thereto, the holders of shares of Common Stock shall have
received an amount per share (the “Common Adjustment”) equal to the quotient
obtained by dividing (i) the Series A Liquidation Preference by (ii) 1,000 (as
appropriately adjusted as set forth in subparagraph (C) below to reflect such
events as stock splits, stock dividends and recapitalizations with respect to
the Common Stock) (such number in clause (ii), the “Adjustment Number”).  Following the payment of the full amount of the
Series A Liquidation Preference and the Common Adjustment in respect of all
outstanding shares of Series A Junior Participating Preferred Stock and Common
Stock, respectively, holders of Series A Junior Participating Preferred Stock
and holders of shares of Common Stock shall receive their ratable and
proportionate share of the remaining assets to be distributed in the ratio of
the Adjustment Number to 1 with respect to such Preferred Stock and Common
Stock, on a per share basis, respectively.

 8
 

 

(B)           In
the event, however, that there are not sufficient assets available to permit
payment in full of the Series A Liquidation Preference and the liquidation
preferences of all other series of preferred stock, if any, which rank on a
parity with the Series A Junior Participating Preferred Stock, then such
remaining assets shall be distributed ratably to the holders of such parity
shares in proportion to their respective liquidation preferences.  In the event, however, that there are not
sufficient assets available to permit payment in full of the Common Adjustment,
then such remaining assets shall be distributed ratably to the holders of
Common Stock.

(C)           In
the event the Corporation shall at any time after the Rights Declaration Date
(i) declare any dividend on Common Stock payable in shares of Common Stock,
(ii) subdivide the outstanding Common Stock, or (iii) combine the outstanding
Common Stock into a smaller number of shares, then in each such case the
Adjustment Number in effect immediately prior to such event shall be adjusted
by multiplying such Adjustment Number by a fraction the numerator of which is
the number of shares of Common Stock outstanding immediately after such event
and the denominator of which is the number of shares of Common Stock that were outstanding
immediately prior to such event.

Section 7.               Consolidation,
Merger, etc.  In case the Corporation
shall enter into any consolidation, merger, combination or other transaction in
which the shares of Common Stock are exchanged for or changed into other stock
or securities, cash and/or any other property, then in any such case the shares
of Series A Junior Participating Preferred Stock shall at the same time be
similarly exchanged or changed in an amount per share (subject to the provision
for adjustment hereinafter set forth) equal to 1,000 times the aggregate amount
of stock, securities, cash and/or any other property (payable in kind), as the
case may be, into which or for which each share of Common Stock is changed or
exchanged.  In the event the Corporation
shall at any time after the Rights Declaration Date (i) declare any dividend on
Common Stock payable in shares of Common Stock, (ii) subdivide the outstanding
Common Stock, or (iii) combine the outstanding Common Stock into a smaller
number of shares, then in each such case the amount set forth in the preceding
sentence with respect to the exchange or change of shares of Series A Junior
Participating Preferred Stock shall be adjusted by multiplying such amount by a
fraction the numerator of which is the number of shares of Common Stock
outstanding immediately after such event and the 

 9
 

 

denominator of which is
the number of shares of Common Stock that were outstanding immediately prior to
such event.

Section 8.               No
Redemption.  The shares of Series A
Junior Participating Preferred Stock shall not be redeemable.

Section 9.               Amendment.  The Restated Certificate of Incorporation of
the Corporation shall not be further amended in any manner which would
materially alter or change the powers, preferences or special rights of the
Series A Junior Participating Preferred Stock so as to affect them adversely
without the affirmative vote of the holders of a majority or more of the
outstanding shares of Series A Junior Participating Preferred Stock, voting
separately as a class.

Section 10.             Fractional
Shares.  Series A Junior
Participating Preferred Stock may be issued in fractions of a share which shall
entitle the holder, in proportion to such holders fractional shares, to
exercise voting rights, receive dividends, participate in distributions and to
have the benefit of all other rights of holders of Series A Junior
Participating Preferred Stock.

IN WITNESS
WHEREOF, I have executed and subscribed this Certificate and do affirm the
foregoing as true under the penalties of perjury this 8th day of
January, 1996.

	
   

  	
  HELMERICH & PAYNE, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /S/ Hans Helmerich

  	
   

  
	
   

  	
  Name:

  	
  Hans Helmerich

  
	
   

  	
  Title:

  	
  President

  
				

 

 10

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