Document:

Exhibit 10.3

Date

Dear ________:

It is my pleasure to congratulate you for being selected to participate in the
Long Term Performance Award Program (the "Program") under The 2001 Stanley Works
Long-Term Incentive Plan. This Program is intended to provide substantial,
equity-based rewards for specified full-time members of our senior executive
team, provided specific Corporate goals are achieved during the Program's three
year measurement period (January 2, 2005 through December 29, 2007).

In conjunction with our short-term variable compensation program (MICP) and our
stock option program, the Program is an important addition to your total
compensation package, and provides a strong additional incentive to continue
increasing shareholder value.

Bonus Opportunity

Each participant will have an opportunity to earn a number of Performance Shares
(PS) based upon achievement of corporate financial goals, and may earn
additional performance shares if the corporate financial goals are exceeded.
Each PS unit represents one share of Stanley Common Stock and, accordingly, the
potential value of a participant's performance award under the Program may
increase if our stock price appreciates over the measurement period.

Each participant is allocated a threshold, target and maximum number of PS units
based upon assigned percentages of his or her annual base salary, at the rate in
effect as of January 2, 2005. The initial value of each PS unit is $45.98, the
average of the high and low price of Stanley stock on February 23, 2005.

Your performance award covers the following number of PS units:

     -----------------------------------------------------------------------
                   Threshold             Target                Max
     -----------------------------------------------------------------------
     % of Pay
     -----------------------------------------------------------------------
     # PS
     -----------------------------------------------------------------------

Vesting and Settlement

Performance awards will become vested at the time of settlement to the extent
that the applicable performance metrics have been achieved and provided that the
participant is continuously employed by Stanley until such time. Performance
awards will be settled in shares of Stanley stock as soon as practicable
following the end of the measurement period. The shares will be distributed in
the form of restricted stock to the extent the participant does not hold the
number of shares specified in the minimum stock ownership guidelines for
executives at the time of settlement. Participants will be entitled to vote and
receive dividends on restricted stock following the date of distribution.

The Minimum Ownership Guidelines are as follows:

                     Position           Multiple of Base Salary
                     --------           -----------------------

                     CEO                         3X

                     EVP/SVP                     2X

                     Level 3                     1X

If a participant's employment with Stanley terminates due to his or her
retirement, death or disability prior to the date the performance awards are
settled, the participant's performance award will be pro-rated based on the
number of days in the measurement period that the participant was employed by
Stanley. The participant's pro-rated performance award will be settled at the
same time as performance awards for active participants are settled, to the
extent the applicable performance metrics have been achieved. Pro-rated
performance awards will be settled in the form of unrestricted shares of Stanley
common stock. A participant whose employment with Stanley terminates prior to
the date of settlement for any other reason will forfeit all rights in respect
of his or her performance award and will not be entitled to receive any shares
of Stanley stock or other payment under the Program.

Financial Measurements

The Corporate financial goals for this Program will consist of two equally
weighted metrics, one based on EPS and one based on ROCE.

Although this summary includes the key aspects of the Program, it is not
intended to represent a full accounting of the rules and regulations applicable
to the Program and is subject to the terms described in the enclosed Terms and
Conditions Applicable to Long Term Performance Awards and the Stanley Works 2001
Long-Term Incentive Plan, which together with this document govern the Program.

If you have any questions, please call me, Jim Loree or Mark Mathieu. Once
again, thank you for your continued support and congratulations on being
selected to participate in this important Program.

Best regards,Exhibit 10.4

Description of Performance Criteria and Range of Certain Awards under the
Long-Term Performance Award Program for the period January 2, 2005 through
December 29, 2007

The Long-Term Performance Award Program under the Stanley Works 2001 Long-Term
Incentive Plan for the performance period commencing January 2, 2005 and ending
December 29, 2007 provides for the grant of performance units to the members of
our senior executive team that are settled in shares of Stanley Common Stock if
and to the extent corporate financial goals are achieved over the performance
period. The performance criteria approved by the Compensation and Organization
Committee under the 2005 to 2007 Long-Term Performance Award Program are based
on achievement of corporate earnings per share and return on capital employed
targets over the three year performance period from January 2, 2005 to December
29, 2007.

The range of performance units to be granted under the 2005 to 2007 Long-Term
Performance Award Program to our Chief Executive Officer and other four most
highly compensated executive officers for achievement of threshold performance
is from 1,848 to 8,155 performance units, for achievement of target performance
is from 3,697 to 16,311 performance units, and for achievement of maximum
performance is from 7,394 to 32,622 performance units.Exhibit 10.1

 

 

 

 

 

FORM OF EMPLOYMENT AGREEMENT

 

 

between

 

 

SUPERIOR ENERGY SERVICES, INC.

 

 

and

 

 

[CHIEF OPERATING OFFICER] or [CHIEF FINANCIAL OFFICER]

 

 

 

 

 

 

 

Dated as of February 25, 2005

 

 

 

 

 

EMPLOYMENT AGREEMENT

This Employment Agreement (this "Agreement"), dated and effective as of
February 25, 2005, is by and between Superior Energy Services, Inc., a Delaware
corporation (the "Company"), and [Chief Operating Officer] [Chief Financial
Officer] ("Executive").

W I T N E S S E T H:

WHEREAS, Executive is a key executive of the Company and;

WHEREAS, the Company recognizes that Executive's contribution to the growth
and success of the Company has been substantial and desires to provide for the
continued employment of Executive by the Company, and Executive desires to
continue to serve the Company on a full-time basis, upon the terms and
conditions provided in this Agreement.

NOW, THEREFORE, in consideration of the premises and of the respective
representations and warranties hereinafter set forth and of the mutual covenants
herein contained, the parties hereto hereby as follows:

1.     Employment.   The Company shall continue to employ Executive, and
Executive shall continue to serve in the employ of the Company, upon the terms
and subject to the conditions set forth in this Agreement.

2.     Term.

(a)    Executive's employment with the Company hereunder shall continue until
April 1, 2008; provided, however, that on April 1, 2006 and on each subsequent
anniversary of April 1, 2006, the term of Executive's employment under this
Agreement shall be automatically extended for one additional year unless, within
180 days prior to April 1, 2006 or any subsequent anniversary thereof, either
party hereto gives written notice to the other of that party's election not to
so extend the term hereof (such term, as it may be extended, the "Employment
Period").

(b)    Following Executive's ceasing, for whatever reason, to be an employee of
the Company, each party shall have the right to enforce all its rights, and
shall be bound by all obligations, that are continuing rights and obligations
under the terms of this Agreement.

3.     Position and Duties.   During the Employment Period, Executive's
position shall be ________ of the Company or such other position as an executive
officer with the Company or its subsidiaries to which Executive may be elected
or appointed by the Company's Board of Directors (the "Board"). Executive shall
perform such duties, consistent with Executive's status as an executive officer
of the Company elected or appointed by the Board, as may be prescribed from time
to time by the Board, the Company's Chief Executive Officer or other officers to
whom authority has been delegated by the Board or the Company's Chief Executive
Officer.

4.     Compensation and Related Matters.

(a)    Salary.   The Company shall pay to Executive a minimum annual base
salary of $__________ (such annual base salary, as it may be increased from time
to time as provided herein, the "Annual Base Salary"), which shall be paid in
equal semi-monthly installments in accordance with the Company's regular payroll
practices for its principal executive officers. During the Employment Period,
the Annual Base Salary shall be reviewed at least annually; provided, however,
that a salary increase shall not necessarily be awarded as a result of any such
review. Any increase in Annual Base Salary shall not serve to limit or reduce
any other obligation of the Company to Executive hereunder. The Annual Base
Salary shall not be reduced after any such increase. 

(b)    Incentive Bonus.  Executive shall be eligible to earn an annual
bonus under the Company's management incentive plan for each fiscal year ending
during the Employment Period based on Executive's achievement of performance
objectives during each such fiscal year as approved by the Compensation
Committee of the Board (the "Compensation Committee"). Each such annual bonus
shall be paid no later than the last day of the third month of the fiscal year
following the fiscal year for which such annual bonus is awarded or at such time
as bonuses are generally paid to executive officers of the Company.

(c)    Long-Term Incentive Plan.  During the Employment Period, Executive
shall be eligible for stock option and other stock-based incentive grants under
the Company's long-term incentive plan as approved by the Compensation
Committee.

(d)    Savings, Retirement and Other Incentive Plans.  During the
Employment Period, Executive shall be eligible to participate in all incentive,
savings and retirement plans generally available to the Company's other
principal executive officers.

(e)    Welfare Benefit Plans.  During the Employment Period, Executive
and/or Executive's family, as the case may be, shall be eligible to participate
in and shall receive all benefits under welfare benefit and retirement plans
generally available to the Company's other principal executive officers.

(f)    Automobile.  The Company shall either provide a reasonable
automobile allowance to Executive or make available to Executive an automobile
for Executive's use in the discharge of his duties, and such automobile shall be
maintained at the expense of the Company, each in accordance with the Company's
policies and practices for its principal executive officers.

(g)    Expenses.  The Company shall promptly reimburse Executive for all
reasonable and necessary expenses incurred by Executive during the Employment
Period in performing services hereunder, including all expenses of travel and
living expenses while away from home on business or at the request of and in the
service of the Company, provided that such expenses are incurred and accounted
for in accordance with the policies and practices of the Company as in effect
from time to time.

(h)    Vacations.  Executive shall be excused from rendering his services
during reasonable vacation periods for not more than a total of 15 business days
per year and during other reasonable temporary absences in accordance with the
Company's policies and practices for its principal executive officers. Executive
shall also be entitled to all paid holidays and personal days given by the
Company to its principal executive officers generally.

5.     Termination.

(a)    Death.  This Agreement shall terminate automatically upon the death
of Executive during the Employment Period.

(b)    Disability.  The Company may terminate Executive's employment under
this Agreement at any time during the Employment Period if, as a result of
Executive's incapacity due to physical or mental illness, Executive becomes
eligible to receive benefits under the Company's long-term disability plan as in
effect on the date of such termination. The Company shall give written notice to
Executive of any such termination at least 60 days prior to the date of such
termination. 

(c)    Cause.  The Company may terminate Executive's employment under this
Agreement for "Cause." For purposes of this Agreement, the Company shall have
"Cause" to terminate Executive's employment hereunder upon: 

	(i)   the substantial and continued willful failure by Executive to perform
    his duties hereunder, or a material breach or threatened breach of this
    Agreement by Executive, in either case which results, or could reasonably be
    expected to result, in material harm to the business or reputation of the
    Company, which failure or breach is not cured (if curable) by Executive
    within 15 days after written notice of such failure or breach is delivered
    to Executive by the Company;

	(ii)   a violation of the Company's Code of Business Ethics and Conduct,
    which violation is not cured (if curable) by Executive within 15 days after
    written notice of such violation is delivered to Executive by the Company;
    or

	(iii)   the commission by Executive of any criminal act involving moral
    turpitude or a felony which results in an indictment or conviction.

(d)    Termination by Executive.  Executive may terminate Executive's
employment hereunder if:

	(i)   within 180 days following a Change in Control, there is a material
    reduction in Executive's authority, duties or responsibilities from those in
    effect immediately prior to such Change in Control or Executive is assigned
    to duties or responsibilities materially inconsistent from those of
    Executive in effect immediately prior to such Change in Control;

	(ii)   the Company does not fulfill its obligations under Section 8 in
    connection with a Change in Control; or

	(iii)   within 180 days following a Change in Control, the Company requires
    Executive, without Executive's prior written consent, to be based at any
    office located more than 30 miles from the Company's offices at which
    Executive is based as of the date hereof, excluding travel reasonably
    required in the performance of Executive's duties hereunder.

For purposes of this Agreement, a "Change in Control" shall mean the
occurrence at any time after the date of this Agreement of any of the following
events: the consummation of any sale, lease, exchange or other transfer (in one
transaction or a series of related transactions) of all or substantially all of
the assets of the Company, to any person or group of related persons, together
with any affiliates thereof; any person or group shall become the owner,
directly or indirectly, beneficially or of record, of shares representing more
than 50% of the aggregate voting power of the issued and outstanding common
stock of the Company; or the consummation of a merger or consolidation of the
Company with another person in which the holders of the Company's common stock
immediately prior to the consummation of the transaction hold, directly or
indirectly, immediately following the consummation of the transaction, 50% or
less of the common equity interest in the surviving person in such transaction.

(e)    Notice of Termination.  Any termination of Executive's employment
by the Company or by Executive, other than termination as a result of
Executive's death, shall be communicated by written notice of termination to the
other party hereto in accordance with Section 9, which notice shall indicate the
specific termination provision in this Agreement relied upon and shall set forth
in reasonable detail the facts and circumstances claimed to provide a basis for
termination of Executive's employment under the provision so indicated.

6.     Compensation Upon Termination.

(a)    Except as provided in this Section 6, if Executive's employment hereunder
is terminated for any reason, all future compensation and benefits to which
Executive is otherwise entitled under this Agreement shall cease and terminate
as of the date of such termination. Executive, or his estate in the event of a
termination as a result of his death, shall be entitled to receive Executive's
Annual Base Salary through the date of such termination and any bonuses,
incentive compensation or other amounts accrued or payable to Executive but
unpaid as of the date of such termination, and, except as otherwise provided in
this Section 6, Executive shall not be entitled to any other payments or other
benefits from the Company except for those which may be payable pursuant to the
terms of the Company's employee benefit and incentive plans in which Executive
participates or the applicable agreements underlying such plans. 

(b)    If Executive's employment under this Agreement is terminated by Executive
pursuant to Section 5(d), or by the Company within 180 days of a Change in
Control other than pursuant to Section 5(b) or (c), then the Company shall pay
to Executive, in one lump-sum payment within 30 days after the date of such
termination, an amount equal to two times the sum of (i) Executive's Annual Base
Salary and (ii) the average of the annual bonuses paid or payable to Executive
for the preceding three fiscal years, and the Company shall have no further
obligations to Executive under this Agreement except as provided in Section
6(a).

(c)    If Executive's employment under this Agreement is terminated by the
Company other than pursuant to Section 5(b) or (c) and such termination does not
occur within 180 days of a Change in Control, then the Company shall pay to
Executive, in one lump-sum payment within 30 days after the date of such
termination, an amount equal to the Annual Base Salary that otherwise would have
been payable to Executive had Executive remained employed by the Company through
April 1, 2007. 

(d)    If, as a result of any payments made to Executive under this Agreement,
Executive is subjected to an excise tax pursuant to the "golden parachute"
provisions of Section 4999 of the Internal Revenue Code of 1986, as amended, the
Company shall promptly pay to Executive such amounts as are necessary to place
Executive in the same after-tax position as Executive would have been has such
golden parachute provisions not been applicable to him. 

7.     Nondisclosure and Non-Competition

(a)    Certain Definitions.  For purposes of this Agreement, the following
terms shall have the following meanings:

	(i)   "Confidential Information" means any information, knowledge or
        data of any nature and in any form (including information that is
        electronically transmitted or stored on any form of magnetic or
        electronic storage media) relating to the past, current or prospective
        business or operations of the Company and its subsidiaries, that at the
        time or times concerned is not generally known to persons engaged in
        businesses similar to those conducted or contemplated by the Company and
        its subsidiaries (other than information known by such persons through a
        violation of an obligation of confidentiality to the Company), whether
        produced by the Company and its subsidiaries or any of their
        consultants, agents or independent contractors or by Executive, and
        whether or not marked confidential, including, without limitation,
        information relating to the Company's or its subsidiaries' products and
        services, business plans, business acquisitions, processes, product or
        service research and development methods or techniques, training methods
        and other operational methods or techniques, quality assurance
        procedures or standards, operating procedures, files, plans,
        specifications, proposals, drawings, charts, graphs, support data, trade
        secrets, supplier lists, supplier information, purchasing methods or
        practices, distribution and selling activities, consultants' reports,
        marketing and engineering or other technical studies, maintenance
        records, employment or personnel data, marketing data, strategies or
        techniques, financial reports, budgets, projections, cost analyses,
        price lists and analyses, employee lists, customer lists, customer
        source lists, proprietary computer software, and internal notes and
        memoranda relating to any of the foregoing.

	(ii)   "Company's Business" means any of the following: (i)
        manufacturing, selling or renting specialized tools or equipment for use
        with onshore and offshore oil and gas well drilling, completion,
        production, workover, fishing and related activities; (ii) providing oil
        and gas well intervention services, including, without limitation,
        coiled tubing, electric wireline, mechanical wireline, pumping and
        stimulation, artificial lift, well control, snubbing, recompletion,
        engineering, well evaluation and related services; (iii) providing
        oilfield decommissioning or plugging and abandonment services; (iv)
        chartering or operating liftboats or other similar oilfield service
        vessels; (v) providing oil and gas platform and field management
        services, including, without limitation, property management,
        engineering, operating labor, transportation, tools and supplies,
        technical supervision, maintenance, supplemental personnel and logistics
        services; and (vi) providing oilfield waste management and environmental
        cleaning services.

(b)    Nondisclosure of Confidential Information.  Executive shall hold in
a fiduciary capacity for the benefit of the Company all Confidential Information
which shall have been obtained by Executive during Executive's employment by the
Company and shall use such Confidential Information solely within the scope of
his employment with and for the exclusive benefit of the Company. At the end of
the employment term, Executive agrees (i) not to communicate, divulge or make
available to any person or entity (other than the Company) any such Confidential
Information, except upon the prior written authorization of the Company or as
may be required by law or legal process, and (ii) to deliver promptly to the
Company any Confidential Information in his possession, including any duplicates
thereof and any notes or other records Executive has prepared with respect
thereto. In the event that the provisions of any applicable law or the order of
any court would require Executive to disclose or otherwise make available any
Confidential Information then Executive shall give the Company prompt prior
written notice of such required disclosure and an opportunity to contest the
requirement of such disclosure or apply for a protective order with respect to
such Confidential Information by appropriate proceedings.

(c)    Limited Covenant Not to Compete.  This Section 7(c) shall be
binding upon Executive during the Employment Period and for a period of two
years thereafter; provided, however, that this Section 7(c) shall not be binding
upon Executive if the Company terminates Executive's employment hereunder other
than pursuant to Section 5(b) or (c) or if Executive terminates Executive's
employment hereunder pursuant to Section 5(d).

	(i)   Executive shall not, directly or indirectly, for himself or others,
    own, manage, operate, control, be employed by, engage or participate in,
    allow his skill, knowledge, experience or reputation to be used by, or
    otherwise be connected in any manner with the ownership, management,
    operation or control of, any company or other business enterprise engaged in
    any aspect of the Company's Business, within any parish (or any adjacent
    offshore areas) of the State of Louisiana, (as set forth in Appendix A), or
    within the States of Florida, Alabama, Mississippi or Texas (including any
    adjacent offshore areas), and any other state or other jurisdiction (or any
    adjacent offshore areas) (whether within or outside the United States) (the
    "Territory"), in which the Company or any of its subsidiaries carries on a
    like line of business on the date of termination of Executive's employment
    hereunder; provided, however, that nothing contained herein shall prohibit
    Executive from making passive investments in any publicly held company that
    do not exceed, in the aggregate, 1% of the outstanding equity interest of
    such company;

	(ii)   Executive shall not call upon any customer or potential customer of
    the Company or its subsidiaries within the Territory, for the purpose of
    soliciting, diverting or enticing away the business of such person or
    entity, or otherwise disrupting any previously established relationship
    existing between such person or entity and the Company or its subsidiaries;

	(iii)   Executive shall not solicit, induce, influence or attempt to
    influence any supplier, lessor, licensor, or any other person who has a
    business relationship with the Company or its subsidiaries, or who on the
    date of termination of Executive's employment hereunder is engaged in
    discussions or negotiations to enter into a business relationship with the
    Company or its subsidiaries, to discontinue or reduce the extent of such
    relationship with the Company or its subsidiaries; and

	(iv)   Executive shall not make contact with any of the employees of the
    Company or its subsidiaries with whom he had contact during the course of
    his employment with the Company for the purpose of soliciting such employee
    for hire, whether as an employee or independent contractor, or otherwise
    disrupting such employee's relationship with the Company or its
    subsidiaries.

Executive further agrees that during the Employment Period and for a period
of two years thereafter, Executive shall not hire any employee of the Company as
an employee or independent contractor, whether or not such engagement is
solicited by Executive.

(d)    Protection of Information.

	(i)   The Company shall disclose to Executive, or place Executive in a
    position to have access to or develop, trade secrets or confidential
    information of the Company; and/or shall entrust Executive with business
    opportunities of the Company; and/or shall place Executive in a position to
    develop business good will on behalf of the Company.

	(ii)   Executive agrees not to disclose or utilize, for Executive's
    personal benefit or for the direct or indirect benefit of any other person
    or entity, or for any other reason, whether for consideration or otherwise,
    during the Employment Period or at any time thereafter, any information,
    ideas, concepts, improvements, discoveries or inventions, whether patentable
    or not, which are conceived, made, developed, or acquired by Executive,
    individually or in conjunction with others, during Executive's employment by
    the Company (whether during business hours or otherwise and whether on the
    Company's premises or otherwise) which relate to the business, products, or
    services of the Company (including, without limitation, all such business
    ideas, prospects, proposals or other opportunities which are developed by
    Executive during his employment hereunder, or originated by any third party
    and brought to the attention of Executive during his employment hereunder,
    together with information relating thereto (including, without limitation,
    data, memoranda, opinions or other written, electronic or charted means, or
    any other trade secrets or other confidential or proprietary information of
    or concerning the Company)) (collectively, "Business Information").
    Moreover, all documents, drawings, notes, files, data, records,
    correspondence, manuals, models, specifications, computer programs, E-mail,
    voice mail, electronic databases, maps, and all other writings or materials
    of any type embodying any such Business Information are and shall be the
    sole and exclusive property of the Company. Upon termination of Executive's
    employment by the Company, for any reason, Executive promptly shall deliver
    all Business Information, and all copies thereof, to the Company. As a
    result of knowledge of confidential Business Information of third parties,
    such as customers, suppliers, partners, joint ventures, and the like, of the
    Company, Executive also agrees to preserve and protect the confidentiality
    of such third party Business Information to the same extent, and on the same
    basis, as the Company's Business Information.

	(iii)   Executive agrees that, during his employment, any inventions
    (whether or not patentable), concepts, ideas, expressions, discoveries, or
    improvements, including, without limitation, products, processes, methods,
    publications, works of authorship, software programs, designs, trade
    secrets, technical specifications, algorithms, technical data, know-how,
    internal reports and memoranda, marketing plans and any other patent or
    proprietary rights conceived, devised, developed, or reduced to practice, in
    whole or in part, by Executive during his employment with the Company (the
    "Developments") are the sole and exclusive property of the Company on a
    worldwide basis as works made for hire or otherwise, and further that any
    revenue or other consideration obtained from the sale, license or other
    transfer or conveyance of any such Development, or a product or service
    incorporating such Development, is solely for the benefit of and becomes the
    property of the Company. To the extent a Development may not be considered
    work made by Executive for hire for the Company, Executive agrees to assign,
    and automatically assigns at the time of creation of the Development,
    without any requirement of further consideration, any and all right, title
    and interest he may have in such Development. Executive shall preserve each
    such Development as confidential and proprietary information of the Company.
    Executive shall promptly disclose each such Development and shall, upon
    demand, at the Company's expense, execute and deliver to the Company such
    documents, instruments, deeds, acts and things as the Company may request to
    evidence or maintain the Company's ownership of the Development, in any and
    all countries of the world, or to effect enforcement thereof, and to assign
    all rights, if any, of Executive in and to each of such Developments. In
    addition, Executive agrees not to publish or seek to publish any information
    whatsoever concerning any Development without the prior written consent of
    the Company, which may be withheld in its sole and absolute discretion.

	(iv)   Any inventions relating to the business of the Company conceived or
    reduced to practice after Executive leaves the employ of the Company shall
    be conclusively deemed to have been conceived and/or reduced to practice
    during the period of the employment if conceived and/or reduced to practice
    within six months from termination of employment, and shall be subject to
    the terms of this Section 7.

(e)    Injunctive Relief.  Executive acknowledges that a breach by
Executive of each of paragraph (b), (c) and (d) of this Section 7 would cause
immediate and irreparable harm to the Company for which an adequate monetary
remedy does not exist; hence, Executive agrees that, in the event of a breach or
threatened breach by Executive of the provisions of paragraph (b), (c) or (d) of
this Section 7 during or after the employment term, the Company shall be
entitled to injunctive relief restraining Executive from violation of any such
paragraph without the necessity of proof of actual damage or the posting of any
bond, except as required by non-waivable, applicable law. Nothing herein shall
be construed as prohibiting the Company from pursuing any other remedy at law or
in equity to which the Company may be entitled under applicable law in the event
of a breach or threatened breach of this Agreement by Executive including, but
not limited to, recovery of costs and expenses such as reasonable attorney's
fees incurred by reason of any such breach, actual damages sustained by the
Company as a result of any such breach, and cancellation of any unpaid salary,
bonus, commissions or reimbursements otherwise outstanding at the date of
termination of Executive's employment hereunder.

(f)    Governing Law of this Section 7; Consent to Jurisdiction.  Any
dispute regarding the reasonableness of the covenants and agreements set forth
in this Section 7, or the territorial scope or duration thereof, or the remedies
available to the Company upon any breach of such covenants and agreements, shall
be governed by and interpreted in accordance with the laws of the state in which
the prohibited competing activity or disclosure occurs, and, with respect to
each such dispute, the Company and Executive each hereby irrevocably consent to
the exclusive jurisdiction of the state and federal courts sitting in the
relevant state for resolution of such dispute, and agree to be irrevocably bound
by any judgment rendered thereby in connection with such dispute, and further
agree that service of process may be made upon him in any legal proceeding
relating to this Section 7 by any means allowed under the laws of such state.
Each party irrevocably waives any objection he, she or it may have as to the
venue of any such suit, action or proceeding brought in such a court or that
such a court is an inconvenient forum.

(g)    Executive's Understanding of this Section.  Executive hereby
represents to the Company that he has read and understands, and agrees to be
bound by, the terms of this Section. Executive acknowledges that the geographic
scope and duration of the covenants contained in paragraph (c) are the result of
arm's-length bargaining and are fair and reasonable in light of (i) the
importance of the functions performed by Executive and the length of time it
would take the Company to find and train a suitable replacement, (ii) the nature
and wide geographic scope of the operations of the Company, (iii) Executive's
level of control over and contact with the Company's business and operations in
all jurisdictions where same are conducted and (iv) the fact that the Company's
Business is conducted throughout the geographic area where competition is
restricted by this Agreement. It is the desire and intent of the parties that
the provisions of this Agreement be enforced to the fullest extent permitted
under applicable law, whether now or hereafter in effect and therefore, to the
extent permitted by applicable law, the parties hereto waive any provision of
applicable law that would render any provision of this Section 7 invalid or
unenforceable.

8.     Successors. 

(a)    This Agreement and all rights of Executive hereunder shall inure to the
benefit of and be enforceable by Executive's personal or legal representatives,
executors, administrators, successors, heirs, distributees, devisees and
legatees. If Executive should die while any amounts would still be payable to
him under this Agreement if he had continued to live, all such amounts, unless
otherwise provided herein, shall be paid in accordance with the terms of this
Agreement to Executive's devisee, legatee, or other designee or, if there be no
such designee, to Executive's estate.

(b)    The Company shall require any successor (whether direct or indirect, by
purchase, merger, consolidation or otherwise) to all or substantially all of the
business or assets of the Company to expressly assume and agree to perform this
Agreement in the same manner and to the same extent that the Company would be
required to perform this Agreement if no such succession had taken place. For
purposes of this Agreement, the term "Company" shall mean the Company and any
successor to all or substantially all of the Company's business or assets that
assumes and agrees to perform the Company's obligations under this Agreement by
operation of law or otherwise. 

9.     Notices.  For purposes of this Agreement, all notices, demands and
all other communications provided for in this Agreement shall be in writing and
shall be deemed to have been duly given when delivered or (unless otherwise
specified) mailed by United States certified or registered mail, return receipt
requested, postage prepared, addressed as follows:

If to Executive:

	
		____________________

		____________________

		____________________

	

If to the Company:

Superior Energy Services, Inc.

    1105 Peters Road

    Harvey, Louisiana 70058

  

or to such other address as any party may have furnished to the others in
writing in accordance herewith, except that notices of change of address shall
be effective only upon receipt.

10.     Miscellaneous.  No provisions of this Agreement may be modified,
waived or discharged unless such waiver, modification or discharge is agreed to
in writing signed by Executive and such officer of the Company as may be
specifically designated by the Company's Board. No waiver by either party hereto
at any time of any breach by the other party hereto of, or compliance with, any
condition or provision of this Agreement to be performed by such other party
shall be deemed a waiver of similar or dissimilar provisions or conditions at
the same or at any prior or subsequent time. No agreements or representations,
oral or otherwise express or implied, with respect to the subject matter hereof
have been made by either party which are not set forth expressly in this
Agreement.

11.     Validity.  The invalidity or unenforceability of any provision or
provisions of this Agreement shall not affect the validity or enforceability of
any other provision of this Agreement, which shall remain in full force and
effect.

12.     Counterparts.  This Agreement may be executed in multiple
counterparts, each of which shall be deemed to be an original but all of which
together shall constitute one and the same instrument.

13.     Rights and Remedies.  In the event that Executive institutes
proceedings to enforce this Agreement; he shall be entitled to recover all
reasonable attorneys' fees and costs incurred, in addition to any damages or
other relief awarded.

14.     Entire Agreement.  This Agreement sets forth the entire agreement
of the parties hereto in respect of the subject matter contained herein and
supersedes all prior agreements, promises, covenants, arrangements,
communications, representations or warranties, whether oral or written, by any
officer, employee or representative of any party hereto; and any prior agreement
of the parties hereto in respect of the subject matter contained herein,
including, without limitation, the Old Employment Agreement, is hereby
terminated and shall be of no further force or effect.

15.     Governing Law.  This Agreement shall be construed and enforced in
accordance with and governed by the internal laws of the State of Louisiana
without regard to principles of conflict of laws, except as expressly provided
in Section 7(f) above with respect to the resolution of disputes arising under,
or the Company's enforcement of, Section 7 of this Agreement.

[signatures appear on the following page]

 

 

IN WITNESS WHEREOF, the parties have executed this Agreement on the date and
year first above written.

    	
      
	
      SUPERIOR ENERGY
      SERVICES, INC.

    	
      
	
      
	
       

    	
      
	
      
	
       

    	
      
	
      By: 
	
      
       

    

    	
      
	
      
	
      Terence E. Hall

    	
      
	
      
	
      Chief Executive Officer

	
       	
       	
       
	
       	
       
	
       	
       
	
       	
      
 

	
	
       	
      [Executive]

 

 

APPENDIX A

 

	 	Acadia	Madison
	 	Allen	Morehouse
	 	Ascension	Natchitoches
	 	Assumption	Orleans
	 	Avoyelles	Ouachita
	 	Beauregard	Plaquemines
	 	Bienville	Pointe Coupee
	 	Bossier	Rapides
	 	Caddo	Red River
	 	Calcasieu	Richland
	 	Caldwell	Sabine
	 	Cameron	St. Bernard
	 	Catahoula	St. Charles
	 	Claiborne	St. Helena
	 	Concordia	St. James
	 	DeSoto	St. John the Baptist
	 	East Baton Rouge	St. Landry
	 	East Carroll	St. Martin
	 	East Feliciana	St. Mary
	 	Evangeline	St. Tammany
	 	Franklin	Tangipahoa
	 	Grant	Tensas
	 	Iberia	Terrebonne
	 	Iberville	Union
	 	Jackson	Vermillion
	 	Jefferson	Vernon
	 	Jefferson Davis	Washington
	 	Lafayette	Webster
	 	Lafourche	West Baton Rouge
	 	LaSalle	West Carroll
	 	Lincoln	West Feliciana
	 	Livingston	Winn

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00078-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00078-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00078-of-00352.parquet"}]]