Document:

Employee Stock Savings Plan

 SCHEDULE A 
  
 TESCO CORPORATION 
 EMPLOYEE STOCK
SAVINGS PLAN 
 PLAN TEXT 
 Effective Date: July 1, 1994 
 Amended: July 1, 2001 
  

 TABLE OF CONTENTS 
  

			
		
	 ARTICLE 1
	  	PURPOSE OF THE PLAN
		
	 ARTICLE 2
	  	DEFINITIONS
		
	 ARTICLE 3
	  	ELIGIBILITY FOR MEMBERSHIP
		
	 ARTICLE 4
	  	CONTRIBUTIONS
		
	 ARTICLE 5
	  	INVESTMENT OF CONTRIBUTIONS AND REPORTING
		
	 ARTICLE 6
	  	VESTING, TERMINATION AND WITHDRAWAL
		
	 ARTICLE 7
	  	RIGHTS OF THE MEMBER
		
	 ARTICLE 8
	  	RIGHTS OF THE CORPORATION
		
	 ARTICLE 9
	  	ADMINISTRATION AND OTHER

  

 ARTICLE 1—PURPOSE OF THE PLAN 
  

	1.01	The purpose of the Tesco Corporation Employee Stock Savings Plan is to allow the Employees of the Corporation to participate in the growth of Tesco Corporation by the regular
purchase of the common shares of Tesco Corporation on their behalf. 

  

	1.02	The Plan is established as of July 1, 1994. 

 ARTICLE
2—DEFINITIONS 
 For the purpose of this Plan, including this Article, unless the context shall require a different meaning, the following
expressions shall have the meaning attributed to them in this Article 2. 
  

	2.01	“Administrative Agent” means a trust company existing under the laws of Canada or a Province of Canada appointed as Administrative Agent of the Fund pursuant to the Agency
Agreement. 

  

	2.02	“Agency Agreement” means the agreement between the Corporation and the Administrative Agent as established and modified from time to time for purposes of the Plan.

  

	2.03	“Board of Directors” means the directors of the Corporation. 

  

	2.04	“Commencement Date” means the date that a particular Employee becomes a Member of the Plan. 

  

	2.05	“Contribution” means a Matching Contribution or a Voluntary Contribution or both. 

  

	2.06	“Corporation” means Tesco Corporation and its subsidiaries. 

  

	2.07	“Earnings” means the remuneration received by a Member from the Corporation. For greater certainty remuneration includes the base salary and wages including vacation pay
but excluding overtime, bonuses, commissions, expense allowances, retiring allowances and termination settlements. The President of the Corporation may designate certain additional allowances payable to field operatives as eligible remuneration for
the Plan provided that such designation is evidenced in writing. 

  

	2.08	“Effective Date” means July 1, 1994 and as amended July 1, 2001, except as otherwise provided. 

  

	2.09	“Employee” means an individual, including an officer, who is in permanent full-time or permanent part-time employment with the Corporation. 

  

	2.10	“Fund” means all assets held by the Administrative Agent under the terms of the Plan and the Agency Agreement including Shares and uninvested cash.

  

	2.11	“Investment Dealer” means the Investment Dealer, who shall be a member of a recognized Canadian Stock Exchange, appointed from time to time by the Corporation to advise on
and execute purchases of Shares for the Plan via the Administrative Agent. 

  

	2.12	“Long Term Leave” means a period of leave approved by the Corporation which is longer than six months. 

  

	2.13	“Matching Contribution” means a contribution by the Corporation as specified in Article 4.04. 

  

	2.14	“Member” means any Employee who is enrolled in the Plan. 

  

	2.15	“Member Account” (which may be a Standard Account or an RRSP Account) means an account established by the Administrative Agent for each Member in accordance with the Plan
and administered by the Administrative Agent hereunder. 

  

	2.16	“Plan” means the Tesco Corporation Employee Stock Savings Plan. 

  

	2.17	“Quarter” means any of the three month periods in a fiscal year for which the Corporation is required to publish its financial results to its shareholders.

  

	2.18	“RRSP Account” means the Member’s account in the Group Registered Retirement Savings Plan established in accordance with the Plan and administered by the Trustee
hereunder. 

  

	2.19	“Shares” means common shares in the capital of the Corporation. 

  

	2.20	“Short Term Leave” means a period of leave approved by the Corporation no longer than six months. 

  

	2.21	“Standard Account” means a Member Account, which is not an RRSP Account. 

  

	2.22	“Trustee” means a trust company incorporated under the laws of Canada or a Province of Canada appointed as Trustee of the Fund for the RRSP Account.

  

	2.23	“Voluntary Contribution” means a contribution by a Member from the Earnings of such Member. 

 ARTICLE 3—ELIGIBILITY FOR MEMBERSHIP 
  

	3.01	All Employees of the Corporation shall be eligible to become a Member of the Plan provided that no Employee shall be eligible to become a Member prior to the first day of his first
pay period commencing after completion of three months of services. 

  

	3.02	The Board of Directors of the Corporation or their designate may, in their sole discretion, waive the eligibility qualification period set out in Section 3.01 above.

 ARTICLE 4—CONTRIBUTIONS 
  

	4.01	Effective July 1, 1994, Members may elect to make Voluntary Contributions to the Plan through payroll deduction of up to 7.5 percent of the Member’s Earnings (the
“Election”). Such Election shall be in such form required by the Corporation and shall give the Corporation authority to deduct and remit to the Administrative Agent a designated percentage of Earnings in respect of each pay period.

  

	 4.02
	 A Member may change the designated percentage of Earnings pursuant to Article 4.01 once each Quarter. Any change in the
Election will be made upon written notice to the Corporation and will be effective the first pay period of the month of the following Quarter for all written requests received by the Corporation prior to the 15th day of the month at the end of the Quarter. 

  

	4.03	Effective his particular Commencement Date, a Member shall be eligible to establish an RRSP Account by joining the Group RRSP administered by the Trustee in conjunction with the
Plan. Investments of the Group RRSP shall be restricted to Shares of the Corporation. 

 A Member may hold either or both of a
Standard Account and an RRSP Account. For administrative simplicity, the Member may allocate his Contributions only as follows: 
  

															
	 	 	Standard
Account	 	 RRSP
 Account
	 	 	 	 	 	 	 	 	 	 
	 Option 1
	 	100%	 	0%	 		 		 		 		 	
	 Option 2
	 	50%	 	50%	 		 		 		 		 	
	 Option 3
	 	0%	 	100%	 		 		 		 		 	

 The Member may only change his allocation option once per calendar year. 
  

	4.04	The Corporation shall make a Matching Contribution equal to the lesser of a Member’s Voluntary Contribution or such percentage of the Member’s Earnings as is designated
from time to time by the Board of Directors of the Corporation or their designate. The Voluntary Contribution and Matching Contribution of the Corporation shall be remitted to the Administrative Agent within 14 days of the end of each month in
respect of which a Voluntary Contribution is being made by the Member and shall be allocated to the Member Account(s) of the respective Member. 

  

	4.05	All Contributions shall be remitted to the Administrative Agent in Canadian funds. Contributions made in currency other than Canadian funds shall be converted by the Corporation to
Canadian funds based on the conversion rate for the month used by the Corporation for its general accounting purposes. 

 ARTICLE 5—INVESTMENT OF CONTRIBUTIONS AND REPORTING 
  

	5.01	The only eligible investment for the Fund shall be Shares. Contributions shall be held by the Administrative Agent until expended on Shares. 

  

	5.02	The Corporation shall cause the Investment Dealer through the Administrative Agent to purchase Shares through the facilities of the Toronto Stock Exchange in such a way that the
Contributions are fully invested in Shares during the month following the month to which the Contributions relate. The Investment Dealer will be directed to use its best efforts to use the cash balance in the Fund in its entirety for purchase of
Shares subject to market conditions. If the Investment Dealer is unable to purchase the full amount of Shares in a particular month, the remaining cash balance shall be allocated to the first purchases of Shares in the next month.

  

	5.03	Upon completion of purchases of Shares for each month, the Investment Dealer shall report to the Administrative Agent the number of Shares purchased and shall within 30 days deliver
to the Administrative Agent a Share Certificate representing the Shares purchased. The Investment Dealer shall furnish a copy of the monthly report to the Corporation. The Administrative Agent shall allocate Shares to each Member’s Account(s)
in proportion to the Member’s Contributions for the month as reported each month pursuant to Article 5.04 to three decimal places. 

  

	5.04	The Corporation shall furnish a report to the Administrative Agent within 14 days of each month end summarizing the Contributions to each Member’s Account(s).

  

	5.05	The Administrative Agent shall maintain a record of the Shares held for each Member and the cash balance held over until the next Share purchase. A list of such Member Account
balances shall be supplied to the Corporation as soon as practical following the Administrative Agent’s receipt of Contributions as described in Article 4.04, the report as described in Article 5.04 and confirmation from the Investment Dealer
of the number of Shares purchased. 

  

	5.06	Within 30 days of the last day of each of March, June, September and December the Administrative Agent shall supply each Member with a statement of his Member Account balances and
the transactions made on his behalf since the last statement including his Voluntary Contribution, the Matching Contribution, the Shares purchased for and withdrawn from his account and the balance of Shares in his account at the end of the period.

 ARTICLE 6—VESTING, TERMINATION AND WITHDRAWAL 
  

	6.01	All Contributions to the Plan as at each Member’s Commencement Date shall be fully vested for each Member. All Contributions made after that date shall immediately vest to the
benefit of the Member. 

  

	6.02	A Member’s participation in the Plan shall cease in the event of the Member’s termination of employment for any reason except Short Term Leave or other approved leave. A
Member who commences Long Term Leave shall be deemed to have terminated membership in the Plan and shall provide a written withdrawal request to the Corporation within 60 days of such commencement. 

  

	6.03	A Member may once per calendar year withdraw all or any portion of the Shares held in his respective Member Account(s) without penalty or additional transaction fees/charges.
Additional withdrawals may be requested provided however that the Member pays all transaction fees and that the Corporation will, effective on the first pay period after the additional withdrawal has been made, cease to make Matching Contributions
to the Fund on behalf of such Member who has made an additional withdrawal in accordance with the following table: 

  

							
	Proportion of Shares Withdrawn	 	Matching Contribution Suspension Period
	 less than or equal to 50%
 greater than 50%
	 	 6 months
 12 months

 A Member may continue to make Voluntary Contributions during the suspension period. 
  

	6.04	Where a Member ceases to be an Employee of the Corporation a written withdrawal request must be provided to the Corporation within 60 days. In the event that a written withdrawal
request is not received by the Corporation within 60 days of the Member ceasing to be an Employee of the Corporation, his interest in the Fund will be disposed of as follows: 

 (1) Standard Account All whole Shares will be transferred to the Member. All fractional Shares will be paid to the Member in cash. 
 (2) RRSP Account All whole Shares will be transferred to the Member’s individual RRSP in his name which shall not be connected with the Plan.
All fractional Shares will be transferred in cash to the Members’ individual RRSP. 
 Where a Member who has an RRSP Account ceases to
participate in the Plan and has no individual RRSP in his name which is not connected with the Plan, the Trustee will forward his Shares to the Investment Dealer for sale through the facilities of the Toronto Stock Exchange and shall remit the net
proceeds of sale net of applicable tax withholdings to the Member. 
 ARTICLE 7—RIGHTS OF THE MEMBER 
  

	7.01	The Member shall have the right to designate, by written notice given to the Corporation, a person or persons to be the beneficiary to receive any proceeds of disposition that may
be made as a result of the death of the Member. Such written notice may be altered or revoked from time to time by written notice to the Corporation. 

  

	7.02	If, on the death of the Member, there is no designated and surviving beneficiary, any proceeds of disposition will be delivered to the Member’s estate.

  

	7.03	Save for the benefits under the Plan in accordance with Article 6 and the rights to receive statements from the Administrative Agent under paragraph 5.05 the Member shall have no
other rights under the Plan. 

 ARTICLE 8—RIGHTS OF THE CORPORATION 
  

	8.01	The provisions of the Plan may be amended by the Corporation in its sole discretion, provided that no such amendment shall reduce the then current value of any Member’s
Account, notwithstanding that such amendment may affect the contribution limits of Members or the Corporation, or other aspects of the Plan, after the date of the amendment. 

  

	8.02	The Corporation may, in its sole discretion and on 30 days notice to the Members, terminate the Plan at any time. 

  

	8.03	In the event of the termination of the Plan, the Administrative Agent shall transfer the Members’ interests in the Plan to the Members in accordance with Article 6.04.
Fractional Shares shall be sold and the proceeds paid to the Member. 

  

	8.04	The operation of this Plan shall at no time interfere with the Corporation’s right to terminate the employment of any Member with or without just cause.

  

	8.05	The Corporation shall have the right to terminate the Agency Agreement with any particular Administrative Agent and appoint a successor Administrative Agent at any time subject only
to any notice period that may be in the Agency Agreement. 

  

	8.06	In the event of any conflict between a Member and the Corporation arising in connection with this Plan, the Corporation shall have sole responsibility for the interpretation of the
Plan. 

 ARTICLE 9—ADMINISTRATION AND OTHER 
  

	9.01	The Corporation shall administer the Plan and shall make and enforce such procedures as it may deem suitable, and shall have the powers necessary to carry out the administration of
the Plan, including the authorization of disbursements made by the Administrative Agent and the Investment Dealer and the resolution of questions involving the interpretation and application of the provisions of the Plan. 

 

	9.02	The Corporation shall adopt such regulations as may be deemed necessary or proper for the efficient administration of the Plan and may amend same from time to time subject to the
provisions of 8.01. The Corporation shall notify the Administrative Agent in writing of such amendments. 

  

	9.03	All reasonable expenses incurred in connection with the administration of the Plan shall be paid by the Corporation. Costs of purchase or sale of Shares, including commissions, fees
and applicable taxes, shall be deemed to be part of the cost of the Shares and shall be paid for from Contributions to the Plan. 

  

	9.04	The Corporation shall provide or cause to be provided notice in writing to each Employee of the Corporation who is eligible to participate in the Plan of his participation and of
their rights thereunder. 

  

	9.05	The Corporation shall be responsible for selection of the Investment Dealer. 

  

	9.06	The Plan shall be construed, regulated and administered according to the laws of the Province of Alberta and the provisions of the Income Tax Act. 

  

	9.07	When the context of the Plan requires it, the masculine gender shall include the feminine and the singular shall include the plural. 

  

	9.08	Members’ RRSP Accounts are subject to the provisions of the Income Tax Act (Canada). The Income Tax Act (Canada) imposes certain limits on the amounts individuals may
contribute to RRSPs and the amount which may be claimed as deductions. Members may make separate contributions to other personal RRSPs outside the Plan. It is the responsibility of each Member to ensure that he does not overcontribute and the
Corporation accepts no responsibility or liability for overcontributions. 

  

	9.09	If the Corporation disposes of any division or subsidiary, the Employees shall not be entitled to any compensation in respect of the termination of their right to participate in the
Plan except for the right to receive the balance of their Member’s
 Account(s). 

  

	9.10	Dividends on the Shares shall be reinvested in Shares and such Shares shall be allocated to Members’ Accounts in the proportion of Shares held in each Member’s Account at
the end of the month prior to receipt of the dividend. 

  

	9.11	Where applicable the Corporation’s Matching Contribution is a taxable benefit and shall be reported accordingly. 

  

	9.12	Shares held by the Administrative Agent under the Plan shall be registered in the name of the Administrative Agent or such other name as the Administrative Agent determines.

  

	9.13	Whole shares allocated to a Member’s Account will be voted by the Administrative Agent in accordance with the directions, if any, of the Member.Employment Agreement - Julio M. Quintana

 Exhibit 10.11 
 AMENDED AND RESTATED EMPLOYMENT AGREEMENT 
 This Amended and Restated Employment Agreement made
effective August 25, 2004 (the “Agreement”) is between TESCO CORPORATION, a corporation organized under the laws of the Province of Alberta, Canada (hereinafter referred to as “Employer”) and JULIO QUINTANA (hereinafter
referred to as “Executive”). The Employer and Executive are collectively referred to herein as the “Parties,” and individually referred to as a “Party.” 
 R E C I T A L S: 
 WHEREAS, Employer desires to employ Executive on a continuing basis; 
 WHEREAS, Executive desires to be employed by
Employer pursuant to all of the terms and conditions hereinafter set forth; and 
 WHEREAS, Executive will have access to
Employer’s Confidential Information as a result of his employment with Employer. 
 NOW, THEREFORE, in consideration of the
mutual covenants herein contained, it is AGREED as follows: 
 1. Purpose. The purpose of this Agreement is to formalize the
terms and conditions of Executive’s employment with Employer. The recitals contained herein represent both Parties’ intentions with respect to the terms and conditions covered and cannot be amended during the term of the Agreement except
by written addendum to the Agreement signed by both Parties. 
 2. Definitions. For the purposes of this Agreement, the
following words shall have the following meanings: 
 (a) “Employer” means TESCO CORPORATION. 
 (b) “Cause,” in connection with a termination by Employer, shall mean: (1) embezzlement or theft by Executive of any
property of Employer; (2) any breach by Executive of any material provision of this Agreement; (3) any act by Executive constituting a felony or otherwise involving theft, fraud, gross dishonesty, or moral turpitude; (4) negligence or
willful misconduct on the part of Executive in the performance of his duties as an employee, officer, or director of Employer; (5) Executive’s breach of his fiduciary obligations to Employer; or (6) any chemical dependence of the
Executive which adversely affects the performance of his duties and responsibilities to Employer. 
 (c) “Change of
Control” means: (1) the acceptance of a take-over offer by shareholders representing 35% of the issued and outstanding Common Shares; (b) the 

  

			
	EMPLOYMENT AGREEMENT	  	Page 1

 
acquisition by any company(ies) or individual(s) of more than 35% of the issued and outstanding Common Shares; (c) the acquisition by any company(ies)
or individual(s) of less than 35% of the issued and outstanding Common Shares which nevertheless results in the ability of such company(ies) or individual(s) to elect a majority of the directors of the Corporation or affect management of the
Corporation; (d) the merger, consolidation or amalgamation of the Corporation with another entity; or (e) the sale of all or substantially all of the assets of the Corporation. 
 (d) “Confidential Information” means information (1) disclosed to or known by Executive as a consequence of or through his
employment with Employer; (2) not generally known outside Employer; and (3) which relates to any aspect of Employer or its business, research, or development. “Confidential Information” includes, but is not limited to,
Employer’s trade secrets, proprietary information, business plans, marketing plans, financial information, compensation and benefit information, cost and pricing information, customer contacts, suppliers, vendors, and information provided to
Employer by a third Party under restrictions against disclosure or use by Employer or others. 
 (e) “Conflict of
Interest” means any activity which might adversely affect Employer or its affiliates, including ownership of a material interest in any supplier, contractor, distributor, subcontractor, customer, or other entity with which Employer does
business. 
 (f) “Copyright Works” are materials for which copyright protection may be obtained including, but not
limited to: literary works (including all written material), computer programs, artistic and graphic works (including designs, graphs, drawings, blueprints, and other works), recordings, models, photographs, slides, motion pictures, and audio-visual
works, regardless of the form or manner in which documented or recorded. 
 (g) “Good Reason,” in connection with a
termination by Executive, shall occur when the Employer, without Cause, (i) implements a material adverse change in the overall level of the responsibilities and/or duties of the Executive; (ii) reduces Executive’s base compensation,
with the base compensation meaning the Executive’s Salary, Benefits and Stock Options; (iii) implements a material adverse change in the terms of Executives performance bonus program for calendar years subsequent to 2004, unless offset by
an increase in other compensation; (iv) requires that Executive change his primary work location by more than fifty (50) miles or; (v) creates a material breach of this Agreement by the Employer that continues for more than thirty
(30) days after Executive gives written notice to the Employer regarding such breach. 
 (h) “Inventions” means
inventions (whether patentable or not), discoveries, improvements, designs, and ideas (whether or not shown or described in writing or reduced to practice) including, and in addition to any such Confidential Information or Copyright Works.

 3. Duration. The relationship of employment established by this Agreement shall become effective on September 1, 2004,
and continue unless terminated as hereinafter provided. 
  

			
	EMPLOYMENT AGREEMENT	  	Page 2

 4. Duties and Responsibilities. Upon the effective date of employment under this Agreement,
Executive shall diligently render his services to Employer as Chief Operating Officer (“COO”), in accordance with Employer’s directives, and shall use his best efforts and good faith in accomplishing such directives. If
Executive’s performance is satisfactory to Employer’s Board of Directors, he shall become Chief Executive Officer (“CEO”) within twelve (12) months of the effective date of employment under this Agreement. Authorities and
lines of reporting for the positions of COO and CEO shall be substantially as set forth in the schedule attached hereto as Exhibit “A.” Executive agrees to devote his full-time efforts, abilities, and attention (defined to mean not less
than forty (40) hours/week) to the business of Employer, and shall not engage in any activities which will interfere with such efforts. Executive shall well and faithfully serve Employer during the continuance of his employment hereunder and
shall use his best efforts to promote the interests of Employer. Executive’s home office will be in Houston, Texas. Executive shall serve, with no additional compensation, as a member of the Employer’s Board of Directors. Such appointment
shall be made as soon as practicable following the effective date of employment under this Agreement. 
 5. Compensation and
Benefits. In return for the services to be provided by Executive pursuant to this Agreement, Employer agrees to pay Executive as follows: 
 (a) Salary. Executive shall receive a base annual salary of THREE HUNDRED THOUSAND DOLLARS AND NO CENTS ($300,000.00 U.S.) payable in equal monthly installments, subject to deduction of statutorily required
amounts and amounts payable by employees of Employer for employee benefits. The annual salary to be paid by Employer to Executive shall be reviewed at least annually and may from time to time be increased as approved by the Employer’s Board of
Directors. 
 (b) Signing Bonus. Employee shall pay Executive a signing bonus of FIFTY-FIVE THOUSAND DOLLARS AND NO
CENTS ($55,000.00 U.S.) upon the undertaking of his duties and responsibilities hereunder. 
 (c) 2004 Performance
Bonus. Executive shall receive a 2004 Performance Bonus of up to FIFTY-FIVE THOUSAND DOLLARS AND NO CENTS ($55,000.00 U.S.) based upon the achievement of certain mutually agreed performance goals (including the establishment of the
Employer’s performance bonus program to be effective January 1, 2005). Such bonus shall be payable in January 2005 or such later date as achievement of the relevant performance goals can reasonably be ascertained. 
 (d) Continuing Performance Bonus. For calendar years subsequent to 2004, Executive shall be eligible for an annual performance
bonus under Employer’s performance bonus program in an amount of up to 60% of annual base salary if corporate and/or personal performance targets are met and up to 100% of annual base salary if such targets are exceeded. Particulars of the
Employer’s performance bonus program and the performance goals and targets to be applied thereunder will be determined prior to January 1, 2005 with the input and agreement of the Executive. 
 (e) Stock Options. Forthwith upon execution of this Agreement, Employer shall grant Executive 200,000 options in Employer’s
common stock, with an exercise price equal to closing price of the stock on the last trading day immediately preceding 

  

			
	EMPLOYMENT AGREEMENT	  	Page 3

 
Executive’s execution of this Agreement. Such options shall be granted under the existing Stock Option Plan of the Employer, a copy of which plan has
been provided to Executive; provided that all such options shall vest immediately and shall be placed into an escrow account whereby they may be exercised upon instruction of the Executive from time to time over the next seven (7) years
(subject to approval by The Toronto Stock Exchange and, in the absence of such approval which will be requested by Employer, five (5) years). Provided, however, that Executive shall only be entitled to the proceeds of the exercise of such
options and sale of stock acquired thereby as long as the Executive remains employed by the Employer, and in any event the proceeds, if any, shall only be releasable to the Executive pursuant to the following schedule: 33-1/3% after twelve
(12) months of employment; 66-2/3% after twenty-four (24) months employment; 100% after thirty-six (36) months employment (the “Releasable Proceeds”). Any proceeds in excess of such percentages shall be placed in a mutually
agreeable escrow account until such time periods have passed. If the Executive’s employment is terminated anytime prior to thirty-six (36) months from the date of this Agreement, the Executive shall have ninety (90) days from such
termination within which to exercise any unexercised options for the purpose of receiving any corresponding Releasable Proceeds, if any. In the event that the Executive decides to terminate his employment with the Employer, any unreleased funds
contained in the escrow account prior to the expiration of thirty-six (36) months from the date of this Agreement shall be returned to the Employer and the Executive shall forfeit the right to exercise any remaining unexercised options in
relation to the initial stock option grant dated August 25, 2004. Provided further, that such proceeds shall not be subject to the foregoing limitations in the event of Executive’s death, disability (as described in Paragraph 6(a)
below), or a Change of Control. Executive may be awarded additional options under the Stock Option Plan at the discretion of Employer and consistent with past practice of Employer. 
 (f) Legal Expenses. Employer shall pay Executive’s reasonable attorneys’ fees incurred in negotiating and finalizing this
Agreement. 
 (g) Benefits. Executive shall be entitled to participate in Employer’s various employee benefit
plans in the same manner as other senior management employees of Employer. 
 (h) Expenses. Executive shall be
reimbursed by Employer for all reasonable expenses incurred by the Executive in performance of his duties hereunder upon the submission of vouchers, bills or receipts for such expenses. 
 (i) Vacation. Executive will be provided four (4) weeks paid vacation in each calendar year. 
 6. Termination. 
 (a) Employer may terminate Executive’s employment upon his death, or if he is unable to perform the essential functions of his position with reasonable accommodation for six (6) consecutive months, or for a total of six
(6) months during any twelve (12) month period. 
  

			
	EMPLOYMENT AGREEMENT	  	Page 4

 (b) Employer also may terminate Executive’s employment immediately for
“Cause.” Prior to terminating this Agreement for Cause, Employer must give Executive thirty (30) days advance written notice of such intent and the grounds therefore, such that Executive has the opportunity to cure and/or rectify the
alleged breach. Only if Executive does not cure the alleged breach at the end of thirty (30) days may Employer terminate Executive for Cause. 
 (c) Employer may terminate this Agreement without Cause upon fourteen (14) days written notice to Executive. 
 (d) Executive may terminate this Agreement upon fourteen (14) days written notice to Employer. In the event Executive terminates his employment in this manner, he shall remain in Employer’s employ subject to
all terms and conditions of this Agreement for the entire fourteen (14) day period unless instructed otherwise by Employer. 
 (e) Executive may terminate this Agreement for “Good Reason” by giving Employer thirty (30) days advance written notice of such intent and the grounds thereof. 
 (f) Executive may terminate this Agreement if Employer fails to promote Executive to CEO within twelve (12) months of the effective
date of employment under this Agreement. 
 7. Severance. Executive shall be entitled to the following compensation upon
termination of his employment under the following circumstances: 
 (a) Death, Disability, Expiration of Agreement, or
Resignation. In the event Executive’s employment is terminated as a result of his death, disability, or Executive’s voluntary resignation, he shall not be entitled to receive any further compensation under this Agreement. 

(b) Without Cause. In the event Executive’s employment with Employer is terminated without Cause, Executive shall be
entitled to continue to receive salary payments, payable on regularly scheduled pay days for twenty-four (24) months. 
 (c) Termination by Executive for Good Reason. In the event that Executive terminates his employment with Employer for Good Reason, Executive shall be entitled to continue to receive salary payments, payable on regularly scheduled pay
days for twenty-four (24) months. 
 (d) Termination by Executive Under Paragraph 6(f). If Executive terminates
this Agreement under Paragraph 6(f), Executive shall be entitled to continue to receive salary payments, payable on regularly scheduled pay days for twenty-four (24) months. 
 (d) Change in Control. Employer and Executive shall enter into a Change of Control Agreement substantially in the form provided to
the Executive and providing that: (i) Executive shall be entitled to receive a lump sum payment equal to three (3) times his annual salary in the event the Executive is terminated without cause within one (1) year of a Change of
Control or elects to leave the employ of Employer within sixty 

  

			
	EMPLOYMENT AGREEMENT	  	Page 5

 
(60) days of a Change of Control; and (ii) all unvested stock options held by Executive shall vest immediately upon a Change of Control. 
 (d) No Duty to Mitigate. Executive shall not be required to mitigate the amount of any payment or other benefit required to be paid
to Executive pursuant to this Agreement, whether by seeking other employment or otherwise, nor shall the amount of any such payment or other benefit be reduced on account of any compensation earned by Executive as a result of employment by another
person. Employer’s obligation to make the payments provided for in this Agreement and otherwise perform its obligations hereunder shall not be affected by any setoff, counterclaim, recoupment, defense or other claim, right or action which
Employer may have against Executive or others. 
 8. Inventions, Confidential Information, Patents, and Copyright Works.

 (a) Notification of Company. Upon conception, all Inventions, Confidential Information, and Copyright Works shall
become the property of Employer (or the United States Government where required by law) whether or not patent or copyright registration applications are filed for such subject matter. Executive will communicate to Employer promptly and fully all
Inventions, or suggestions (whether or not patentable), all Confidential Information or Copyright Works made, designed, created, or conceived by Executive (whether made, designed, created, or conceived solely by Executive or jointly with others)
during the period of his employment with Employer: (a) which relate to the actual or anticipated business, research, activities, or development of Employer at the time of the conception; or (b) which result from or are suggested by any
work which Executive has done or may do for or on behalf of Employer; or (c) which are developed, tested, improved, or investigated either in part or entirely on time for which Executive was paid by Employer, or using any resources of Employer.

 (b) Transfer of Rights. Executive agrees, during his employment with Employer, to assign and transfer to Employer
Executive’s entire right, title, and interest in all Inventions, Confidential Information, Copyright Works and Patents prepared, made or conceived by or in behalf of Executive (solely or jointly with others): (a) which relate in any way to
the actual or anticipated business of Employer, or (b) which relate in any way to the actual or anticipated research or development of Employer, or (c) which are suggested by or result, directly or indirectly, from any task assigned to
Executive or in which Executive otherwise engages in behalf of Employer. Executive also agrees to do all things necessary to transfer to Employer Executive’s entire right, title, and interest in and to all such Inventions, Confidential
Information, Copyright Works or Patents as Employer may request, on such forms as Employer may provide, at any time during or after Executive’s employment. Executive will promptly and fully assist Employer during and subsequent to his
employment in every lawful way to obtain, protect, and enforce Employer’s patent, copyrights, trade secret or other proprietary rights for Inventions, Confidential Information, Copyright Works or Patents in any and all countries. 
 (c) Notice of Rights Under State Statutes. No provision in this Agreement is intended to require assignment of any of
Executive’s rights in an Invention for which no equipment, supplies, facilities, Confidential Information, Copyright Works, Inventions, Patents or information of Employer was used, and which was (1) developed entirely on 

  

			
	EMPLOYMENT AGREEMENT	  	Page 6

 
Executive’s own time; (2) does not relate to the business of Employer or to the actual or demonstrably anticipated research or development of
Employer; and (3) does not result from any work performed by Executive for Employer or assigned to Executive by Employer. 
 (d) Rights in Copyrights. Unless otherwise agreed in writing by Employer, all Copyright Works prepared wholly or partially by Executive (alone or jointly with others) within the scope of his employment with Employer, shall be deemed
a “work made for hire” under the copyright laws and shall be owned by Employer. Executive understands that any assignment or release of such works can only be made by Employer. Executive will do everything reasonably necessary to enable
Employer or its nominee to protect its rights in such works. Executive agrees to execute all documents and to do all things necessary to vest in Employer Executive’s right and title to copyrights in such works. Executive shall not assist or
work with any third Party that is not an employee of Employer to create or prepare any Copyright Works without the prior written consent of Employer. 
 (e) Assistance in Preparation of Applications. Executive will promptly and fully assist, if requested by Employer, in the preparation and filing of Patents and Copyright Registrations in any and all countries
selected by Employer and will assign to Employer Executive’s entire right, title, and interest in and to such Patents and Copyright Registrations, as well as all Inventions or Copyright Works to which such Patents and Copyright Registrations
pertain, to enable any such properties to be prosecuted under the direction of Employer and to ensure that any Patent or Copyright Registration obtained will validly issue to Employer. 
 (f) Execute Documents. Executive will promptly sign any and all lawful papers, take all lawful oaths, and do all lawful acts,
including testifying, at the request of Employer, in connection with the procurement, grant, enforcement, maintenance, exploitation, or defense against assertion of any patent, trademark, copyright, trade secret or related rights, including
applications for protection or registration thereof. Such lawful papers include, but are not limited to, any and all powers, assignments, affidavits, declarations and other papers deemed by Employer to be necessary or advisable. 
 (g) Keep Records. Executive will keep and regularly maintain adequate and current written records of all Inventions, Confidential
Information, and Copyright Works he participates in creating, conceiving, developing, and manufacturing. Such records shall be kept and maintained in the form of notes, sketches, drawings, reports, or other documents relating thereto, bearing at
least the date of preparation and the signatures or name of each employee contributing to the subject matter reflected in the record. Such records shall be and shall remain the exclusive property of Employer and shall be available to Employer at all
times. 
 (h) Return of Documents, Equipment, Etc. All writings, records, and other documents and things comprising,
containing, describing, discussing, explaining, or evidencing any Inventions, Confidential Information, or Copyright Works and all equipment, components, parts, tools, and the like in Executive’s custody or possession that have been obtained or
prepared in the course of Executive’s employment with 

  

			
	EMPLOYMENT AGREEMENT	  	Page 7

 
Employer shall be the exclusive property of Employer, shall not be copied and/or removed from the premises of Employer, except in pursuit of the business of
Employer, and shall be delivered to Employer, without Executive retaining any copies, upon notification of the termination of Executive’s employment or at any other time requested by Employer. Employer shall have the right to retain, access,
and inspect all property of Executive of any kind in the office, work area, and on the premises of Employer upon termination of Executive’s employment and at any time during employment by Employer, to ensure compliance with the terms of this
Agreement. 
 (i) Other Contracts. Executive represents and warrants that he is not a Party to any existing contract
relating to the granting or assignment to others of any interest in Inventions, Confidential Information, Copyright Works or Patents hereafter made by Executive except insofar as copies of such contracts, if any, are attached to this Agreement.

 (j) Assignment After Termination. Executive recognizes that ideas, Inventions, Confidential Information, Copyright
Works, Copyright Registrations or Patents relating to his activities while working for Employer that are conceived or made by Executive, alone or with others, within one (1) year after termination of his employment may have been conceived in
significant part while Executive was employed by Employer. Accordingly, Executive agrees that such ideas, Inventions, Confidential Information, Copyright Works, Copyright Registrations or Patents shall be presumed to have been conceived and made
during his employment with Employer and are to be assigned to Employer. 
 (k) Prior Conceptions. At the end of this
Paragraph, Executive has set forth what he represents and warrants to be a complete list of all Inventions, if any, patented or unpatented, or Copyright Works, including a brief description thereof (without revealing any confidential or proprietary
information of any other Party) which Executive participated in the conception, creation, development, or making of prior to his employment with Employer and for which Executive claims full or partial ownership or other interest, or which are in the
physical possession of a former employer and which are therefore excluded from the scope of this Agreement. If there are no such exclusions from this Agreement, Executive has so indicated by writing “None” below in his own handwriting.

 Prior Conceptions: 
 Unocal Patents, all issued prior to 1994 Focused on: 
  

	 	1.	Coil Tubing Drilling; 

  

	 	2.	Floating, Casing in High Angle Wells; 

  

	 	3.	High Angle Liner Hanger Systems; and 

  

	 	4.	Geosteering of Horizontal Wells. 

  

			
	EMPLOYMENT AGREEMENT	  	Page 8

 9. Non-Competition, Non-Solicitation, and Confidentiality. Employer and Executive
acknowledge and agree that while Executive is employed pursuant to this Agreement, he will have access to confidential information of Employer, will be provided with specialized training on how to perform his duties; and will be provided contact
with Employer’s customers and potential customers. In consideration of all of the foregoing, Employer and Executive agree as follows: 
 (a) Non-Competition During Employment. Executive agrees that for the duration of this Agreement, he will not compete with Employer by engaging in the conception, design, development, production, marketing, or
servicing of any product or service that is substantially similar to the products or services which Employer provides, and that he will not work for, in any capacity, assist, or become affiliated with as an owner, partner, etc., either directly or
indirectly, any individual or business which offers or performs services, or offers or provides products substantially similar to the services and products provided by Employer. 
 (b) Non-Competition After Employment. Executive agrees that for a period of two (2) years after termination of his employment
with Employer for any reason, including expiration of this Agreement, he will not compete with Employer in the United States or Canada by engaging in the conception, design, development, production, marketing, or servicing of any product or service
that is substantially similar to the products or services which Employer provides, and that he will not work for, in any capacity, assist, or become affiliated with as an owner, partner, etc., either directly or indirectly, any individual or
business which offers or performs services, or offers or provides products substantially similar to the services and products provided by Employer; provided that Executive may accept employment with a business which offers or performs services, or
offers or provides products substantially similar to the services and products provided by Employer if Executive is employed by a division, affiliate, or subsidiary that does not offer or perform services, or offer or provide products substantially
similar to the services and products provided by Employer and Executive understands and agrees that he cannot perform any services for the division, subsidiary, or affiliate which does compete with Employer. 
 (c) Conflicts of Interest. Executive agrees that for the duration of this Agreement, he will not engage, either directly or
indirectly, in any Conflict of Interest, and that Executive will promptly inform a corporate officer of Employer as to each offer received by Executive to engage in any such activity. Executive further agrees to disclose to Employer any other facts
of which Executive becomes aware which might involve or give rise to a Conflict of Interest or potential Conflict of Interest. 
 (d) Non-Solicitation of Customers. Executive further agrees that for the duration of this Agreement, and for a period of two (2) years after the termination of this Agreement for any reason, including expiration of the
Agreement, he will not solicit or accept any business, for services or products substantially similar to the services or products offered by Employer, from any customer or client or prospective customer or client with whom Executive personally dealt
or solicited in the last twelve (12) months Executive was employed by Employer. 
  

			
	EMPLOYMENT AGREEMENT	  	Page 9

 (e) Non-Solicitation of Executives. Executive agrees that for the duration of this
Agreement, and for a period of two (2) years after the termination of this Agreement for any reason, including expiration of the Agreement, he will not either directly or indirectly, on his own behalf or on behalf of others, solicit, attempt to
hire, or hire any person employed by Employer to work for Executive or for any other entity, firm, corporation, or individual; provided however, that nothing in this paragraph shall prohibit a future employer of Executive from soliciting, attempting
to hire, or hiring any person employed by Employer so long as Executive is not directly or indirectly involved in the process including, but not limited to providing names of such employees to anyone for purposes of possible employment and/or
directing such employees to contact anyone for purposes of possible employment. 
 (f) Confidential Information.
Executive further agrees that he will not, except as Employer may otherwise consent or direct in writing, reveal or disclose, sell, use, lecture upon, publish, or otherwise disclose to any third Party any Confidential Information or proprietary
information of Employer, or authorize anyone else to do these things at any time either during or subsequent to his employment with Employer. This section shall continue in full force and effect after termination of Executive’s employment and
after the termination of this Agreement for any reason, including expiration of this Agreement. Executive’s obligations under this section of this Agreement with respect to any specific Confidential Information and proprietary information shall
cease when that specific portion of Confidential Information and proprietary information becomes publicly known, in its entirety and without combining portions of such information obtained separately. It is understood that such Confidential
Information and proprietary information of Employer include matters that Executive conceives or develops, as well as matters Executive learns from other employees of Employer. 
 (g) Prior Disclosure. Executive represents and warrants that he has not used or disclosed any Confidential Information he may have
obtained from Employer prior to signing this Agreement, in any way inconsistent with the provisions of this Agreement. 
 (h)
Confidential Information of Prior Employers. Executive will not disclose or use during the period of his employment with Employer any proprietary or confidential information or copyright works, subject to a confidentiality agreement, which
Executive may have acquired because of employment with an employer other than Employer. 
 (i) Time Period Tolled. The
time periods referenced in this Paragraph during which Executive is restrained from competing against Employer shall not include any period of time during which Executive is in breach of this Agreement. Said time periods referenced in this Paragraph
will be tolled, such that Employer will receive the full benefit of the time period in the event Executive breaches this Agreement. 
 (j) Breach. Executive agrees that any breach of Paragraphs 9(a), (b), (c), (d), (e) or (f) above cannot be remedied solely by money damages, and that in addition to any other remedies Employer may have, Employer is
entitled to obtain injunctive relief against Executive. Nothing herein, however, shall be construed as limiting Employer’s right to pursue any other available remedy at law or in equity, including recovery of damages and termination of this
Agreement. 
  

			
	EMPLOYMENT AGREEMENT	  	Page 10

 (k) Independent Covenants. All covenants contained in Paragraph 9 of this
Agreement shall be construed as agreements independent of any other provision of this Agreement, and the existence of any claim or cause of action by Executive against Employer, whether predicated on this Agreement or otherwise, shall not constitute
a defense to the enforcement by Employer of such covenants. 
 10. Right to Enter Agreement. Executive represents and covenants
to Employer that he has full power and authority to enter into this Agreement and that the execution of this Agreement will not breach or constitute a default of any other agreement or contract to which he is a Party or by which he is bound;
provided, however, that Executive is subject to an inventions agreement with Schlumberger which limits his rights to any covered inventions and/or technology which he developed while in Schlumberger’s employ. 
 11. Assignment. This Agreement may be assigned by Employer, but cannot be assigned by Executive. An assignment of this Agreement by
Employer shall not relieve Employer of any liability or obligation under this Agreement. 
 12. Binding Agreement. Executive
understands that his obligations under this Agreement are binding upon Executive’s heirs, successors, personal representatives, and legal representatives. 
 13. Notices. All notices pursuant to this Agreement shall be in writing and sent certified mail, return receipt requested, addressed as follows: 
  

			
	 If to Executive:
	  	Julio Quintana
		  	 c/o Tesco Corporation
 11330 Brittmoore Park
Drive

		  	Houston, Texas 77041
		
	 with a copy to:
	  	 John Zavitsanos
 c/o Ahmad, Zavitsanos &
Anaipakos, P.C.

		  	1221 McKinney, Suite 3460
		  	Houston, Texas 77010
		
	 If to Employer:
	  	 Robert M. Tessari
 c/o Tesco
Corporation

		  	11330 Brittmoore Park Drive
		  	Houston, Texas 77041
		
	with a copy to:	  	 William S. Rice
 c/o Bennett Jones
LLP

		  	Suite 4500, 855 – 2nd Street SW
		  	Calgary, Alberta T2P 4K7

  

			
	EMPLOYMENT AGREEMENT	  	Page 11

 14. Waiver. No waiver by either Party to this Agreement of any right to enforce any term or
condition of this Agreement, or of any breach hereof, shall be deemed a waiver of such right in the future or of any other right or remedy available under this Agreement. 
 15. Severability. If any provision of this Agreement is determined to be void, invalid, unenforceable, or against public policy, such provisions shall be deemed severable from the Agreement, and the
remaining provisions of the Agreement will remain unaffected and in full force and effect. Furthermore, any breach by Employer of any provision of this Agreement shall not excuse Executive’s compliance with the requirements of Paragraphs 8
or 9, to the extent they are otherwise enforceable. 
 16. Arbitration. In the event any dispute arises out of Executive’s
employment with Employer, or separation therefrom, which cannot be resolved by the Parties to this Agreement, such dispute shall be submitted to final and binding arbitration. The arbitration shall be conducted in accordance with the American
Arbitration Association (“AAA”). If the Parties cannot agree on an arbitrator, a list of seven (7) arbitrators will be requested from AAA, and the arbitrator will be selected using alternate strikes with Executive striking first. The
cost of the arbitration will be shared equally by Executive and Employer. Arbitration of such disputes is mandatory and in lieu of any and all civil causes of action and lawsuits either Party may have against the other arising out of
Executive’s employment with Employer, or separation therefrom; provided, however, that any claim Employer has for breach of the covenants contained in Paragraphs 8 and 9 of this Agreement shall not be subject to mandatory
arbitration, and may be pursued in a court of law or equity. 
 17. Entire Agreement. The terms and provisions contained herein
shall constitute the entire agreement between the Parties with respect to Executive’s employment with Employer during the time period covered by this Agreement. This Agreement replaces and supersedes any and all existing agreements entered into
between Executive and Employer relating generally to the same subject matter, if any, and shall be binding upon Executive’s heirs, executors, administrators, or other legal representatives or assigns. 
 18. Modification of Agreement. This Agreement may not be changed or modified or released or discharged or abandoned or otherwise
terminated, in whole or in part, except by an instrument in writing signed by Executive and an officer or other authorized executive of Employer. 
 19. Understand Agreement. Executive represents and warrants that he has read and understood each and every provision of this Agreement, acknowledges that he has obtained independent legal advice from attorneys of his choice,
and confirms that Executive has freely and voluntarily entered into this Agreement. 
 20. Effective Date. It is understood by
Executive that this Agreement shall be effective when signed by both Employer and Executive, and that the terms of this Agreement shall remain in full force and effect both during the continuation of Executive’s employment and where applicable
thereafter. 
  

			
	EMPLOYMENT AGREEMENT	  	Page 12

 21. Governing Law. This Agreement shall be governed by and construed in accordance with the
laws of the State of Texas. 
 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first written above.

  

			
	Employer:
	
	TESCO CORPORATION
		
	Per:	 	/s/ William S. Rice
		 	Chairman of the Board of Directors

  

			
		
	Per:	 	/s/ Norman W. Robertson
		 	Chairman of the Compensation Committee

  

					
	Executive:	 		 	 SIGNED, SEALED AND DELIVERED
 in the presence
of:

			
	/s/ Julio M. Quintana	 		 	/s/ Roderick MacLean
	Julio Quintana	 		 	Witness

 Dallas_1\4012886\2 
 42996-1 8/6/2004 
  

			
	EMPLOYMENT AGREEMENT	  	Page 13

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