Document:

EX-10.1

 Exhibit 10.1 
 FORM OF 
 INDEMNITY AGREEMENT 

THIS AGREEMENT is made this      day of
                    , 2012, by and between Vantage Drilling Company, a Cayman Islands company (“Company”), and
                     (“Indemnitee”). 
 WHEREAS, the Company and Indemnitee desire that Indemnitee continue to serve as a director of the Company; and 
 WHEREAS, the Company desires and intends to provide indemnification (including advancement of expenses or costs) against any and all liabilities asserted against Indemnitee to the fullest
extent permitted by the laws of the State of Texas. 
 NOW, THEREFORE, in consideration of the covenants contained herein,
the Company and Indemnitee agree as follows: 
 1. Continued Service. Indemnitee will continue to serve as a director so long as he
is duly elected and qualified in accordance with the Memorandum and Articles of Association of the Company or until he tenders his resignation. 
 2. Indemnification. The Company shall indemnify and hold harmless Indemnitee as follows: 
 (a) The Company shall indemnify and hold harmless Indemnitee when he is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil,
criminal, administrative or investigative (other than an action by or in the right of the Company) by reason of the fact that he is or was a director, officer, employee or agent of the Company, or is or was serving at the request of
the Company as a director, officer, employee or agent of another corporation, partnership, joint venture trust or other enterprise, against expenses (including attorneys’ fees and costs), judgments, fines and settlements actually and
reasonably incurred by him in connection with such action, suit or proceeding if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal
action or proceeding if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal action or proceeding, had no reasonable cause to believe
his conduct was unlawful. The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that Indemnitee failed
to act in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal action or proceeding, had reasonable cause to believe that his conduct
was unlawful. 
 (b) The Company shall indemnify and hold harmless Indemnitee when he is a party or is threatened to
be made a party to any threatened, pending or completed action or suit by or in the right of the Company to procure a judgment in its favor by reason of the fact that he is or was a director, officer, employee or agent of the Company,
or is or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against expenses (including attorneys’ fees and costs) actually

  
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and reasonably incurred by him in connection with the defense or settlement of such action or suit if he acted in good faith and in a manner he reasonably believed to be in or not
opposed to the best interests of the Company and except that no indemnification shall be made in respect of any claim, issue or matter as to which Indemnitee shall have been adjudged to be liable for gross negligence or misconduct in
the performance of his duty to the Company unless and only to the extent that the Court of Chancery or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in
view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification for such expenses which the Court of Chancery or such other court shall deem proper. 

(c) Any indemnification under paragraphs (a) and (b) of this Section 2 (unless ordered by a court) shall be made by
the Company only as authorized in the specific case upon a determination (in accordance with Section 3 hereof) that indemnification of Indemnitee is proper in the circumstances because he has met the applicable standard of conduct set
forth in paragraphs (a) and (b) of this Section 2. Such determination shall be made (1) by the board of directors by a majority vote of a quorum consisting of directors who were not parties to such action, suit or
proceedings, or (2) if such a quorum is not obtainable, or, even if obtainable a quorum of disinterested directors so directs, by independent legal counsel in a written opinion, or (3) by the shareholders. 

(d) Expenses (including attorneys’ fees and costs) incurred by Indemnitee in defending a civil or criminal action, suit or
proceeding shall be paid by the Company in advance of the final disposition of such action, suit or proceeding as authorized (in accordance with Section 4 hereof) by the board of directors in the specific case upon receipt of an
undertaking by or on behalf of Indemnitee to repay such amount if it is ultimately determined that he is not entitled to be indemnified by the Company under this Agreement or otherwise. 

(e) The right to indemnification provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee
may be entitled under any statute, bylaw, insurance policy, agreement, vote of shareholders or disinterested directors or otherwise, both as to action in his official capacity and as to action in another capacity while holding such office, and
shall continue after Indemnitee has ceased to be a director, officer, employee or agent and shall inure to the benefit of his heirs, executors and administrators. 
 3. Determination of Right to Indemnification. For purposes of making the determination in a specific case under paragraph (c) of Section 2 hereof whether to make indemnification, the
board of directors, independent legal counsel, or shareholders, as the case may be, shall make such determination in accordance with the following procedure: 
 (a) Indemnitee may submit to the board of directors a sworn statement substantially in the form of Exhibit 1 attached hereto and made a part hereof (“Indemnification and Undertaking
Statement”) averring that he has met the applicable standard of conduct set forth in paragraphs (a) and (b) of Section 2 hereof and that he undertakes to repay such expenses and costs if it is ultimately determined he is not
entitled to be indemnified by the Company under this Agreement or otherwise; 

  
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 (b) Submission of the Indemnification and Undertaking Statement to the board of directors
shall create a rebuttable presumption that Indemnitee is entitled to indemnification under this Agreement, and the board of directors, independent legal counsel, or shareholders, as the case may be, shall within a reasonable period
after submission of the Indemnification and Undertaking Statement specifically determine that Indemnitee is so entitled, unless it or they shall possess sufficient evidence to show that Indemnitee engaged in willful misconduct with respect
to the matter for which indemnification is sought, which evidence shall be disclosed to Indemnitee with particularity in a sworn written statement signed by all persons who participated in the determination and voted to deny
indemnification 
 4. Authorization of Advancement of Expenses. For purpose of determining whether to authorize advancement of
expenses and costs in a specific case pursuant to paragraph (d) of Section 2 hereof, the board of directors shall make such determination in accordance with the following procedure: 

(a) Indemnitee may submit to the Company’s board of directors the Indemnification and Undertaking Statement substantially in the form
of Exhibit 1 attached hereto, averring that (i) he has reasonably incurred or will reasonably incur actual expenses and costs in defending a civil or criminal action, suit or proceedings, and (ii) he undertakes to repay such amount if
it is ultimately determined that he is not entitled to be indemnified by the Company under this Agreement or otherwise; 
 (b) Upon receipt of the Indemnification and Undertaking Statement, the board of directors shall, within a reasonable period not to exceed 20 working days, authorize payment of the expenses, subject
to determination by the board of directors as set forth in Section 3(b) above whether Indemnitee is entitled to indemnification under this Agreement. 
 (c) The advancement of expenses and costs shall first be satisfied through the proceeds of any insurance policy maintained by the Company or its subsidiaries for purposes of providing indemnification
coverage for the actions of directors and officers, and the Company shall have an additional 10 working days from the period set forth in (b) above to arrange for payment under such policy. Notwithstanding the foregoing, and unless the board of
directors has otherwise denied indemnification pursuant to Section 3(b), the Company’s advancement of expenses and costs under this Section 4 shall be made within 30 working days of the receipt of the Indemnification and Undertaking
Statement. 
 5. Merger, Consolidation or Change in Control. In the event that the Company shall be a constituent corporation in a
consolidation or merger, whether the Company is the resulting or surviving corporation or is absorbed, or if there is a change in control of the Company as defined in Section 6 hereof, Indemnitee shall stand in the same position under
this Agreement with respect to the resulting, surviving or changed corporation as he would have with respect to the Company if its separate existence had continued or if there had been no change in the control of the Company. 

  
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 6. Certain Definitions. For purposes of this Agreement, the following definitions apply
herein: “other enterprises” shall include employee benefit plans, and civic, non-profit, or charitable organizations, whether or not incorporated; “fines” shall include any excise taxes assessed on Indemnitee
respect to any employee benefit plan; “serving at the request of the Company” shall include any service at the request or with the express or implied authorization of the Company, as a director, officer, employee or agent of
the Company which imposes duties on, or involves services by, Indemnitee with respect to a corporation or “other enterprises,” its participants or beneficiaries; and if Indemnitee acted in good faith and in a manner
he reasonably believed to be in the interest of the participants and beneficiaries of such “other enterprises,” he shall be deemed to have acted in a manner “not opposed to the best interests of the Company”
as referred to in this Agreement; and “change of control” shall have the meaning set forth in the Company’s Change of Control Policy adopted effective November 29, 2010, as may be amended from time to time. 

7. Attorneys’ Fees. In the event that Indemnitee institutes any legal action to enforce his rights under, or to recover damages for
breach of this Agreement, Indemnitee, if he prevails in whole or in part, shall be entitled to recover from the Company all reasonable attorneys’ fees and costs incurred by him. 
 8. Severability. If any provision of this Agreement or the application of any provision hereof to any person or circumstances is held invalid, the remainder of this Agreement and the
application of such provision to other persons or circumstances shall not be affected. 
 9. Governing Law. This Agreement shall be
governed by and construed in accordance with the laws of the State of Texas without regard to its conflict of laws rules. 
 10.
Modification; Survival. This Agreement contains the entire agreement of the parties relating to the subject matter hereof. This Agreement may be modified only by an instrument in writing signed by both parties hereto. The provisions
of this Agreement shall survive the termination of Indemnitee’s service as a director and/or officer of the Company. 

IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the date first above written.

 

					
		 		 	VANTAGE DRILLING COMPANY
			
	ATTEST:	 		 	
			
	  
	 		 	  

		 		 	By:
		 		 	Title:

  
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 EXHIBIT 1 
 STATEMENT OF REQUEST FOR INDEMNIFICATION 
 AND UNDERTAKING 

I,
                                        , being
first duly sworn do depose and say as follows: 
 1. This Statement is submitted pursuant to the Indemnity Agreement
dated                     , 2012, between Vantage Drilling Company, a Cayman Islands Company (“Company”), and the undersigned.

 2. I am requesting indemnification against expenses (including attorneys’ fees and costs), costs, liabilities, judgments, fines and
amounts paid in settlement, all of which have been or will be actually and reasonably incurred by me in connection with a certain claim, action, suit or proceeding to which I am a party or am threatened to be made a party by reason of the
fact that I am or was a director or officer of the Company, and which action is not by or in the right of the Company. 
 3. With respect
to all matters related to any such claim, action, suit or proceeding, I acted in good faith and in a manner I reasonably believed to be or not opposed to the best interests of the Company, and, with respect to any criminal action or
proceeding, I had no reason to believe that my conduct was unlawful. 
 4. I hereby undertake to repay this advancement of expenses and costs to
the Company if it is ultimately determined that I am not entitled to be indemnified by the Company. 
 5. I am requesting indemnification
against expenses, costs, liabilities, etc. relating to or arising from the following claim, action, suit or proceeding (attach additional pages if necessary): 
  

 
  

 
  

 
  

 
  

 
 Executed this
     day of                     . 

 

			
	  

	Name:	 	  

 Subscribed and sworn to before me this      day of
                    , 20    . 

 

	
	  

	Notary PublicEX-10.2

 Exhibit 10.2 
 CONSULTING SERVICES AGREEMENT 
 VANTAGE DRILLING COMPANY

 AND 
 STRAND ENERGY 
 DATED: MAY 08, 2012 

 This Agreement is made on 8 May, 2012 
 Between: 
 (1) Vantage Drilling Company, a Cayman Islands exempted company with its
registered address at c/o Maples Corporate Services Limited, PO Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands (“Vantage”); 
 and 
  

	(2)	Strand Energy, of PO Box 28717, Dubai Investment Park Dubai UAE (“Consultant”). 

Background: 
 Vantage wishes to engage
the Consultant to provide the Services (as defined below). The Consultant has agreed to provide the Services on the terms of this Agreement. 

It is agreed as follows: 
  

	1.	Definitions and interpretation 

  

	1.1	In this Agreement, unless the context otherwise requires, the following definitions shall apply: 

“Agreement” means this agreement (including any schedule or annexure to it and any document in agreed form). 

“Appointment” means the appointment of the Consultant pursuant to this Agreement. 

“Confidential Information” means any information which the Consultant is notified by Vantage is confidential and
commercially sensitive and which is not in the public domain relating or belonging to Vantage’s corporate plans, management systems, finances, new business opportunities, research and development projects, marketing or sales. 

“Services” means the consultancy services described in Clause 4 of this Agreement. 

“Termination Date” means the date on which the Appointment terminates pursuant to this Agreement. 

“Vantage Group” means Vantage and its subsidiaries, or any of them as the context requires. 

 

	1.2	In this Agreement, unless the context otherwise requires 

  

	 	(a)	words in the singular include the plural and vice versa and words in one gender include any other gender; 

 

	 	(b)	a reference to: 

  
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	 	(i)	a clause or schedule is to a clause or schedule of this Agreement; 

  

	 	(ii)	a “person” includes any individual, firm, body corporate, association, partnership, government or state (whether or not having a separate legal
personality); and 

  

	 	(c)	headings are for convenience only and shall not affect the interpretation of this Agreement. 

 

	2.	Appointment 

  

	2.1	Vantage appoints the Consultant on a non-exclusive basis to provide the Services to the Vantage Group on the terms and conditions set out in this Agreement.

  

	3.	Term 

  

	3.1	The Appointment shall commence on the date hereof and shall continue, subject to earlier termination in accordance with this Agreement, up to and including
30 April 2015 . 

  

	4.	The Services 

 As
reasonably requested by Vantage from time to time, the Consultant shall provide such reasonable assistance within the Consultant’s experience as may be required to support the Vantage Group in evaluating and sourcing new transaction
opportunities in the offshore oil & gas drilling and rig markets; in evaluating and sourcing opportunities in the upstream oil and gas industry in general and in the promotion of the Vantage Group’s image through road shows from time
to time with its public and private investor base. The Consultant will assign Mr John O’Leary to perform the Services. Mr. Paul Bragg of Vantage will be the Consultant’s primary contact for the Services. 

 

	5.	Expenses 

  

	5.1	Vantage shall reimburse the Consultant for all travel, entertainment and other expenses reasonably incurred by Consultant in the performance of the Services.
Vantage’s obligation to provide such reimbursement is subject to Consultant’s production of receipts or other appropriate evidence of such expenses. All air travel in connection with the Services may be conducted by Mr O’Leary in
business class save for flights of short duration (less than three hours). 

  

	6.	Fees 

  

	6.1	Consultant’s total fees shall be comprised of (i) the Annual Consulting Fee, (ii) Annual Cash Incentive Payment, (iii) Annual Share Awards, and, if
applicable, any Completion Fees, each determined and paid as follows: 

  

	 	(a)	Consulting Fee. From May 1, 2012 the Consultant shall be entitled to an annual consulting fee of US$360,000, payable in twelve (12) substantially equal
monthly installments to the bank account the details of which are enumerated in Exhibit A hereto, or to an account otherwise nominated by the Consultant (the “Annual Consulting Fee”). The fee described in this clause is based
on the Services provided on an “on call” basis. 

  
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	 	(b)	Cash Incentive Payment. For each fiscal year or portion of any fiscal year during which this Agreement is in effect, Consultant will be eligible to earn an annual cash
incentive payment (the “Annual Cash Incentive Payment”) based on performance goals established by the Compensation Committee (the “Compensation Committee”) of Vantage’s Board of Directors (the
“Board”), with the “target” Annual Cash Incentive Payment equal to 80% of the Annual Consulting Fee. The Compensation Committee shall establish objective criteria to be used to determine the extent to which
performance goals have been satisfied. For any Annual Cash Incentive Payment based on a partial fiscal year, Consultant shall only be entitled to receive a pro-rata Annual Cash Incentive Payment based on the number of months during such fiscal year
that this Agreement was in effect. 

  

	 	(c)	Share Awards. The Consultant shall receive an annual award of restricted shares and/or share options (the “Annual Share Awards”) in Vantage as
may be determined by the Compensation Committee from time to time on the same basis as other similarly situated executives of the Company. Vantage’s ability to make any Annual Share Award is subject to the availability of shares under
Vantage’s Amended and Restated 2007 Long-Term Incentive Plan, or such similar plan as may be in effect from time to time (any such plans referred to collectively herein as the “LTIP”), and Consultant agrees and
acknowledges that the actual value of Annual Share Awards granted to Consultant in any year, if any, could vary significantly based on the availability of shares under the LTIP, market conditions and industry compensation trends.

  

	 	(d)	Completion Fees. Where Consultant, in the performance of the Services, originates or significantly contributes to the successful completion and closing of a transaction
for the benefit of any entity within the Vantage Group and duly approved by the Board, Consultant shall be entitled to receive a completion fee (the “Completion Fee”). The value of any such Completion Fee shall be equal to
1.0% of the total value or benefit of the transaction to Vantage, as determined by the Board, provided however, that the maximum dollar value of all fees earned by Consultant in any calendar year (including any Annual Consulting Fee, Annual Cash
Incentive Payment, Annual Share Award, and Completion Fee) shall not exceed US$2 million under any circumstances, whatsoever. Any Completion Fee payable under this Section 6.1(d) shall be made by Vantage (or its designated affiliate) within
sixty (60) days of closing the transaction for which such Completion Fee was earned, provided, however, that the parties may agree to change the time of payment upon their mutual agreement. 

 

	 	(e)	 At Consultant’s election, any Annual Cash Incentive Payment or Completion Fee payable during any calendar year may be paid in Vantage’s
ordinary shares (“Vantage Shares”), if, and to the extent appropriate, as determined by the Compensation Committee in light of the total number of shares available for award under the LTIP. In order for Consultant’s
election to be valid, Consultant must notify Vantage in writing no later than January 10th of each 

  
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calendar year during which any such Annual Cash Incentive Payment or Completion Fee may become payable (or for 2012, within 10 days of the date of this Agreement). The number of Vantage Shares
paid to Consultant in lieu of any Annual Cash Incentive Payment and/or Completion Fee shall be equal to the dollar value that would have otherwise been paid to Consultant, divided by the price of one ordinary share of Vantage as reported at the
close of the market on the business day immediately preceding the date of payment (as determined by the Compensation Committee). 

  

	6.2	Other Benefits. If requested, and subject to the rules and regulations governing participation in Vantage’s insurance plans, Vantage shall include Consultant and
immediate family in its medical health insurance package. Vantage shall make available to Consultant its office facilities and administrative back up where available to facilitate Consultant in the provision of the Services.

  

	6.3	In the event of a Change of Control, as such term is defined in the Vantage’s Change of Control Policy dated November 29, 2010 , this Agreement shall
automatically terminate and Consultant shall be entitled to receive a lump sum payment equal to two years’ of (i) the Annual Consulting Fee and (ii) the “target” Annual Cash Incentive Payment. In addition, all unvested
Vantage shares held by the Consultant (whether received by Consultant in the form of Annual Share Awards or otherwise) shall immediately vest. . 

  

	7.	Intellectual Property 

  

	7.1	All intellectual property and other proprietary rights created by the Consultant (whether alone or with others) in the course of carrying out the Services shall, as
between the parties, vest in and remain with Vantage. 

  

	7.2	Nothing in this Agreement shall prevent the Consultant from using at any time any know how of a generic nature developed by him in the course of the performance of his
obligations under this Agreement. 

  

	8.	Confidential Information 

The Consultant shall not during the Appointment or at any time after the Termination Date, directly or indirectly use or disclose to any
person Confidential Information, save as required by law, authorised by Vantage or where, other than through the Consultant’s unauthorised disclosure, such information is already in the public domain or comes into the public domain. 

 

	9.	Other Interests 

  

	9.1	Nothing in this Agreement shall prevent the Consultant from being engaged, concerned or having any financial interest (directly or indirectly) in any capacity in any
other business, trade, profession or occupation during the Appointment. 

  
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	10.	Nature of Consultancy 

  

	10.1	The Consultant is an independent contractor. Nothing in this Agreement shall be construed as creating any contract of employment, partnership, joint venture or agency
between the Consultant and Vantage. 

  

	10.2	The Consultant shall not, save as authorised by the Vantage Group in writing, have any authority to commit to bind the Vantage Group or incur any expenditure in the
name of or for the account of the Vantage Group. 

  

	11.	Termination. Vantage may terminate this Agreement with immediate effect and no further obligation in the event of Consultant’s (i) material dishonesty
which is not the result of an inadvertent or innocent mistake of Consultant with respect to any entity in the Vantage Group, (ii) willful misfeasance or nonfeasance of duty by Consultant intended to injure or having the effect of injuring in
some material fashion the reputation, business, or business relationships of the Vantage Group or any of their respective officers, directors, or employees, (iii) material violation by Consultant of any material term of this Agreement,
(iv) the violation of Vantage’s Code of Business Conduct & Ethics, Anti-Corruption Policy, Anti-Corruption Procedure, each as amended from time to time, or (v) conviction of Consultant of any felony, any crime involving moral
turpitude or any crime other than a vehicular offense which could reflect in a material unfavorable way upon the Vantage Group. 

 Consultant may terminate this Agreement at any time upon three months’ notice. 
  

	12.	General 

  

	12.1	Entire agreement 

This Agreement sets out the entire agreement and understanding between the parties in respect of the subject matter of this Agreement.

  

	12.2	Assignment 

  

	 	(a)	This Agreement shall be binding upon and enure for the benefit of the successors in title of Vantage. 

 

	 	(b)	This Agreement shall not be assignable by the Consultant. 

  

	12.3	Governing law and jurisdiction 

  

	 	(a)	This Agreement shall be governed by and construed in accordance with English law. 

 

	 	(b)	If any dispute, complaint or disagreement arises in connection with this Agreement, the parties will first attempt to settle it amicably. Failing resolution, any
dispute arising out of or in connection with this Agreement shall be referred to arbitration before a tribunal of three (3) arbitrators, one to be appointed by each party and the third to be appointed by the two arbitrators appointed by the
parties, pursuant to the rules of the London Court of International Arbitration. The place of the arbitration shall be London, England. 

  
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 Vantage Drilling Company 

 

			
	By:    	 	 /Paul A. Bragg/

		 	Paul A. Bragg, Chairman & CEO

 Strand Energy 
  

			
	By:    	 	 /John O’Leary/

		 	John C.G. O’Leary, President

  
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