Document:

EX-10.1

 Exhibit 10.1 
 KEY ENERGY SERVICES, INC. 
 2012 EQUITY AND CASH INCENTIVE PLAN

 RESTRICTED STOCK AWARD AGREEMENT 
 THIS RESTRICTED STOCK AWARD AGREEMENT (this “Agreement”), dated as of             ,
            (the “Date of Grant”), is made by and between Key Energy Services, Inc., a Maryland corporation (the “Company”), and
            (the “Participant”). 
 R E C
I T A L S: 
 WHEREAS, the Company has adopted the Key Energy Services, Inc. 2012 Equity and Cash Incentive Plan (the
“Plan”) pursuant to which awards of Restricted Stock of the Company may be granted; and 

WHEREAS, the Committee has determined that it is in the best interests of the Company and its stockholders to grant the award of
restricted shares of Common Stock provided for herein (the “Restricted Stock Award”) to the Participant in recognition of the Participant’s services to the Company, such grant to be subject to the terms set forth herein.

 NOW, THEREFORE, in consideration for the services rendered by the Participant to the Company and the mutual covenants
hereinafter set forth, the parties hereto agree as follows: 
 1. Grant of Restricted Stock Award. Pursuant to
Section 7.1 of the Plan, the Company hereby issues to the Participant on the Date of Grant the Restricted Stock Award consisting of, in the aggregate,             shares of Restricted
Stock of the Company (hereinafter called the “Restricted Shares”) having the rights and subject to the restrictions set out in this Agreement and the Plan. The Restricted Shares shall vest in accordance with
Section 4 hereof. 
 2. Incorporation by Reference. The provisions of the Plan including, without
limitation, Section 14.5 thereof, are hereby incorporated herein by reference. Except as otherwise expressly set forth herein, this Agreement shall be construed in accordance with the provisions of the Plan and any capitalized terms not
otherwise defined in this Agreement shall have the definitions set forth in the Plan. To the extent that this Agreement is silent with respect to, or in any way inconsistent with, the terms of the Plan, the provisions of the Plan shall govern and
this Agreement shall be deemed to be modified accordingly. The Committee shall have the authority to interpret and construe the Plan and this Agreement and to make any and all determinations thereunder, and its decision shall be binding and
conclusive upon the Participant and his or her legal representative in respect of any questions arising under the Plan or this Agreement. 
 3. Restrictions. Except as provided in the Plan or this Agreement, the restrictions on the Restricted Shares are that they will be forfeited by the Participant and all of the
Participant’s rights to such shares shall immediately terminate without any payment or consideration by the Company, in the event of any sale, assignment, transfer, hypothecation, pledge or other alienation of such Restricted Shares made or
attempted during the Restricted Period (as defined below), whether voluntary or involuntary, and if involuntary whether by process of law in any civil or criminal suit, action or proceeding, whether in the nature of an insolvency or bankruptcy
proceeding or otherwise, without the written consent of the Board. 

 4. Vesting. Except as otherwise provided herein, the restrictions described in
Section 3 above will lapse on the date or dates, as the case may be, set forth on Exhibit A to this Agreement (each a “Vesting Date,” and, with respect to each Restricted Share, the period beginning on the
Date of Grant and ending on the applicable Vesting Date for such share, the “Restricted Period”); provided, that, the Participant is still in Continuous Service with the Company on such Vesting Date. 

(a) Death, Disability. The Restricted Period shall expire and all restrictions will lapse with respect to 100% of
the Restricted Shares upon the termination of the Participant’s Continuous Service due to death or Disability prior to the Vesting Date. 
 (b) Change in Control. The Restricted Period shall expire and all restrictions will lapse with respect to 100% of the Restricted Shares upon the occurrence of a Change in Control prior to the
Vesting Date; provided, that, the Participant is in Continuous Service immediately prior to such Change in Control. 
 (c) Termination of Continuous Service. Except as otherwise set forth in Section 4(a) or Section 4(b) above, if the Participant’s Continuous Service terminates for any
reason at any time prior to the Vesting Date, the unvested Restricted Shares will be forfeited and all of the Participant’s rights to such shares of Common Stock shall immediately terminate. 

(d) Disputes. If the Participant’s Continuous Service terminates prior to the Vesting Date, and there exists a
dispute between the Participant and the Company or the Committee as to the satisfaction of the conditions to the lapse of the restrictions or the terms and conditions of the grant, the Restricted Shares shall remain subject to the restrictions until
the resolution of such dispute, except that any distributions that may be payable to the holders of record of Common Stock as of a date during the period from termination of the Participant’s Continuous Service to the resolution of such dispute
shall: 
 (1) to the extent to which such distributions would have been payable to the Participant on the
Restricted Shares under the terms hereof, be held by the Company as part of its general funds, and shall be paid to or for the account of the Participant only upon, and in the event of, a resolution of such dispute in a manner favorable to the
Participant, and then only with respect to such of the Restricted Shares as to which such resolution shall be so favorable, and 
 (2) be retained by the Company in the event of a resolution of such dispute in a manner unfavorable to the Participant only with respect to such of the Restricted Shares as to which such resolution shall
be so unfavorable. 

  
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 5. Taxes. 

(a) Tax Withholding. The Company shall have the right (x) to deduct from any compensation paid to the
Participant pursuant to the Plan the amount of taxes required by law to be withheld therefrom, (y) to require the Participant to pay the Company in cash such amount required to be withheld, or (z) to withhold vested Restricted Shares
otherwise deliverable to the Participant hereunder; provided, however, that no Restricted Shares are withheld with a value exceeding the minimum amount of tax required to be withheld by applicable law. Subject to the discretion of the
Committee, the Participant may satisfy any foreign, federal, state or local tax withholding obligation relating to the acquisition of shares of Common Stock under this Restricted Stock Award by any of the following means (in addition to the
Company’s right to withhold or to direct the withholding of vested Restricted Shares or to deduct from any compensation paid to the Participant by the Company or by an Affiliate) or by a combination of such means: (i) tendering a cash
payment; (ii) by means of the Company withholding vested Restricted Shares otherwise deliverable to the Participant hereunder; provided, however, that no Restricted Shares are withheld with a value exceeding the minimum amount of
tax required to be withheld by applicable law; or (iii) delivering to the Company previously owned and unencumbered shares of Common Stock. The Participant expressly authorizes the Company to withhold vested Restricted Shares otherwise
deliverable to the Participant hereunder to satisfy any such tax withholding obligations as set forth in this Section 5(a). 
 (b) Section 83(b) of the Code. If the Participant properly elects, within thirty (30) days after the Date of Grant, to include in gross income for federal income tax purposes an amount
equal to the Fair Market Value of the Restricted Shares as of the Date of Grant pursuant to Section 83(b) of the Code, to the extent required by law, the Participant shall pay to the Company, or make other arrangements satisfactory to the
Committee to pay to the Company in the year of such grant, any federal, state or local taxes required to be withheld with respect to such shares of Common Stock. If the Participant fails to make such payments, the Company or its Affiliates shall, to
the extent permitted by law, have the right to deduct from any payment of any kind otherwise due to the Participant any federal, state or local taxes of any kind required by law to be withheld with respect to such Common Stock. 

6. Rights as Shareholders; Dividends. The Participant shall be the record owner of the Restricted Shares unless and until
such shares of Common Stock are cancelled or rescinded pursuant to the terms of the Plan or sold or otherwise disposed of, and as record owner shall be entitled to all rights of a stockholder of the Company, including, without limitation, voting
rights, if any, with respect to the Restricted Shares and the right to receive dividends, if any, while the Restricted Shares are held in custody. 
 7. Certificates. Reasonably promptly following the Date of Grant, the Company shall either cause to be issued to the Participant a certificate in respect of the Restricted Shares or reflect
ownership thereof in book-entry form on the Company’s books and records. If a certificate for Restricted Shares is issued, such certificate shall bear the following (or a similar) legend in addition to any other legends that may be required
under federal or state securities laws: 

  
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 “THE TRANSFERABILITY OF THIS CERTIFICATE AND THE SHARES OF COMMON STOCK
REPRESENTED HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS (INCLUDING FORFEITURE) CONTAINED IN THE KEY ENERGY SERVICES, INC. 2012 EQUITY AND CASH INCENTIVE PLAN AND THE RESTRICTED STOCK AWARD AGREEMENT DATED AS OF
                    ENTERED INTO BETWEEN THE REGISTERED OWNER AND KEY ENERGY SERVICES, INC. A COPY OF THE PLAN AND THE AWARD AGREEMENT ARE ON FILE AT
THE OFFICES OF KEY ENERGY SERVICES, INC.” 
 The Committee shall require that such certificate evidencing such
shares of Common Stock be delivered upon issuance to the Company or such other depository as may be designated by the Committee as a depository for safekeeping until the restrictions set forth herein and in the Plan lapse. At the expiration of the
restrictions, the Company shall deliver to the Participant (or his legal representative, beneficiary or heir, if applicable) any stock certificates for the shares of Common Stock deposited with it free from legend except as otherwise provided by the
Plan or as otherwise required by applicable law. 
 8. Compliance with Laws and Regulations. The issuance and
transfer of the Restricted Shares shall be subject to compliance by the Company and the Participant with all applicable requirements of securities laws and with all applicable requirements of any stock exchange on which the Company’s Common
Stock may be listed at the time of such issuance or transfer. 
 9. Stop-Transfer Instructions. The Participant
agrees that, to ensure compliance with the restrictions imposed by this Agreement, the Company may issue appropriate “stop-transfer” instructions to its transfer agent, if any, and if the Company transfers its own securities, it may make
appropriate notations to the same effect in its own records. 
 10. Refusal to Transfer. The Company will not be
required to (i) register any transfer of shares of Common Stock on its register of stockholders if such shares of Common Stock have been sold or otherwise transferred in violation of any of the provisions of this Agreement or (ii) treat as
owner of such shares of Common Stock, or to accord the right to vote or pay dividends to any purchaser or other transferee to whom such shares of Common Stock have been so transferred. 

11. No Right to Continuous Service. Nothing in this Agreement shall be deemed by implication or otherwise to impose any
limitation on any right of the Company or any of its Affiliates to terminate the Participant’s Continuous Service at any time. 
 12. Notices. All notices, demands and other communications provided for or permitted hereunder shall be made in writing and shall be by registered or certified first class mail, return
receipt requested, telecopier, courier service or personal delivery: 
 if to the Company: 

Key Energy Services, Inc. 
 1301 McKinney Street, Suite 1800 
 Houston, Texas 77010 

Facsimile: 713-651-4559 
 Attention: General Counsel 

  
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 if to the Participant, at the Participant’s last known address on file with the
Company. 
 All such notices, demands and other communications shall be deemed to have been duly given when delivered by hand, if personally
delivered; when delivered by courier, if delivered by commercial courier service; five (5) business days after being deposited in the mail, postage prepaid, if mailed; and when receipt is mechanically acknowledged, if telecopied. 

13. Bound by Plan. By signing this Agreement, the Participant acknowledges that he has received a copy of the Plan and has
had an opportunity to review the Plan and agrees to be bound by all of the terms and provisions of the Plan. 
 14.
Beneficiary. The Participant may file with the Committee a written designation of a beneficiary on such form as may be prescribed by the Committee and may, from time to time, amend or revoke such designation. If no designated
beneficiary survives the Participant, the legal representative of the Participant’s estate shall be deemed to be the Participant’s beneficiary. 
 15. Successors. The terms of this Agreement shall be binding upon and inure to the benefit of the Company, its successors and assigns, and on the Participant and the beneficiaries, executors
and administrators, heirs and successors of the Participant. 
 16. Amendment of Restricted Stock Award. Subject
to Section 17 of this Agreement, the Committee at any time and from time to time may amend the terms of this Restricted Stock Award; provided, however, that the Participant’s rights under this Restricted Stock Award
shall not be impaired by any such amendment unless (i) the Company requests the Participant’s consent and (ii) the Participant consents in writing. 
 17. Adjustment Upon Changes in Capitalization. Restricted Stock Awards may be adjusted as provided in the Plan including, without limitation, Section 11 of the Plan. The Participant, by
his execution and entry into this Agreement, irrevocably and unconditionally consents and agrees to any such adjustments as may be made at any time hereafter. 
 18. Authority of the Committee. The Committee shall have final authority to interpret and construe the Plan and this Agreement and to make any and all determinations thereunder, and its
decisions shall be binding and conclusive upon the Participant and his or her legal representative in respect of any questions arising under the Plan or this Agreement. 
 19. Governing Law. This Agreement shall be construed and interpreted in accordance with the laws of the State of Maryland without regard to principles of conflicts of law thereof, or
principles of conflicts of laws of any other jurisdiction that could cause the application of the laws of any jurisdiction other than the State of Maryland. 
 20. Severability. Every provision of this Agreement is intended to be severable and any illegal or invalid term shall not affect the validity or legality of the remaining terms. 

  
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 21. Headings. The headings of the Sections hereof are provided for convenience
only and are not to serve as a basis for interpretation of construction, and shall not constitute a part of this Agreement. 

22. Signature in Counterparts. This Agreement may be signed in counterparts, each of which shall be deemed an original,
with the same effect as if the signatures thereto and hereto were upon the same instrument. 
 [Signature Page Follows]

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

			
	KEY ENERGY SERVICES, INC.
	
	  

	By:
	Title:
		
	Address:	 	1301 McKinney Street,
		 	 Suite 1800
 Houston, Texas
77010

 The undersigned hereby accepts the terms of this Agreement and the Plan. 

 

			
	  

  
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 EXHIBIT A 
  

			
	 RESTRICTED STOCK
	 	 VESTING DATE

	  	 	  
	  	 	  
	  	 	  
	  	 	  

  
 -8-EX-10.2

 Exhibit 10.2 
 KEY ENERGY SERVICES, INC. 
 2012 EQUITY AND CASH INCENTIVE PLAN

 PERFORMANCE UNIT AWARD AGREEMENT 
 THIS PERFORMANCE UNIT AWARD AGREEMENT (this “Agreement”), dated as of             ,
            (the “Date of Grant”), is made by and between Key Energy Services, Inc., a Maryland corporation (the “Company”), and
            (the “Participant”). 
 R E C
I T A L S: 
 WHEREAS, the Company has adopted the Key Energy Services, Inc. 2012 Equity and Cash Incentive Plan (the
“Plan”) pursuant to which awards intended to qualify as Performance Compensation Awards may be granted (“Performance Units”); and 

WHEREAS, in recognition of the Participant’s services to the Company, the Administrator has determined that it is in the best
interests of the Company and its stockholders to grant the Performance Units provided for herein (the “Performance Unit Award”) pursuant to the terms of the Plan and subject to the further terms and conditions set forth
herein. 
 NOW, THEREFORE, in consideration for the services rendered by the Participant to the Company and the mutual
covenants hereinafter set forth, the parties hereto agree as follows: 
  

	 	1.	Grant of Performance Unit. Pursuant to Section 7.2 of the Plan, the Company hereby grants the Participant a Performance Unit Award consisting of a
target of             Performance Units. Each Performance Unit represents the value of one share of Common Stock. The number of Performance Units that the Participant will actually earn
(which may be up to 200% of the target Performance Units) will be determined by the level of achievement of the Performance Goals set forth in Section 3 hereof. Upon the certification by the Administrator of the level of achievement of
the Performance Goals for a Performance Period, the Company will pay out the Performance Units the Participant has earned for such Performance Period in cash. Fifty percent (50%) of the target Performance Units will be measured with respect to
the First Performance Period and fifty percent (50%) of the target Performance Units will be measured with respect to the Second Performance Period. 

  

	 	2.	Incorporation by Reference. The provisions of the Plan including, without limitation, Sections 11, 12 and 14.5 thereof, are hereby incorporated herein by
reference. Except as otherwise expressly set forth herein, this Agreement shall be construed in accordance with the provisions of the Plan and any capitalized terms not otherwise defined in this Agreement, including Section 19 hereof,
shall have the definitions set forth in the Plan. The Administrator shall have the authority to interpret and construe the Plan and this Agreement and to make any and all determinations thereunder, and its decision shall be binding and conclusive
upon the Participant and his or her legal representative in respect of any questions arising under the Plan or this Agreement. 

	 	3.	Earning of Performance Units. 

 (a) Performance Goals. The number of Performance Units earned in respect of a given Performance Period will be determined at the end of the Performance Period based on the relative placement of the
Company within the group that consists of the Company and the Proxy Peer Group, based on Total Shareholder Return as set forth in Section 3(b) below, as follows: 

 

									
	 Company Placement
 In Proxy Peer Group for
 the
Performance Period
	  	Percentile 
Ranking
In
Proxy Peer Group	 	 	Performance Units
Earned
as a
Percentage of Target	 
	 First
	  	 	100	% 	 	 	200	% 
	 Second
	  	 	91	% 	 	 	180	% 
	 Third
	  	 	82	% 	 	 	160	% 
	 Fourth
	  	 	73	% 	 	 	140	% 
	 Fifth
	  	 	64	% 	 	 	120	% 
	 Sixth
	  	 	55	% 	 	 	100	% 
	 Seventh
	  	 	45	% 	 	 	75	% 
	 Eighth
	  	 	36	% 	 	 	50	% 
	 Ninth
	  	 	27	% 	 	 	25	% 
	 Tenth
	  	 	18	% 	 	 	0	% 
	 Eleventh
	  	 	9	% 	 	 	0	% 
	 Twelfth
	  	 	0	% 	 	 	0	% 

 As an example, and solely for avoidance of doubt, if the Company’s placement in the
group that consists of the Company and the Proxy Peer Group for the First Performance Period is second, the Participant will earn a number of Performance Units for the First Performance Period equal to the product of (a) the number of target
Performance Units, times (b) 50%, times (c) 180%. If the Company’s placement in the group that consists of the Company and the Proxy Peer Group for the Second Performance Period is fourth, the Participant will earn a number of
Performance Units for the Second Performance Period equal to the product of (a) the number of target Performance Units, times (b) 50%, times (c) 140%. 

(b) Proxy Peer Group TSR. In order to determine the Company’s placement, total shareholder return will be
calculated by the Administrator or its designee for all members of the Proxy Peer Group on the same basis as Total Shareholder Return is calculated for the Company. 

(c) Employment Condition. Except as provided in Section 4(a) hereof, a Participant must be employed by
the Company on the payment date in respect of a Performance Unit to be eligible for payment with respect to the Performance Period. 
 (d) Certification. Following completion of each Performance Period, the Administrator shall review and certify in writing whether, and to what extent, the Performance Goal for the Performance
Period has been achieved and, if so, calculate and certify in writing the number of Performance Units that the Participant earned for such period based upon the Company’s TSR relative to the Proxy Peer Group. 

  
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	 	4.	Payment. 

 (a) Timing. Payment in respect of the Performance Unit Award will be made in cash, less applicable withholding amounts, as soon as administratively practicable following completion of the
certifications required by Section 3(d) above, and in any event within sixty (60) days following the end of the Performance Period, subject to the Participant’s Continuous Service through the payment date; provided,
that, payment with respect to a Performance Period will still be made in the case of the Participant’s death or Disability following the end of such Performance Period but prior to the payment date for such Performance Period.

 (b) Amount. The amount payable to the Participant in respect of a Performance Period will be equal to
the product of (i) and (ii) where (i) is the number of Performance Units earned for the Performance Period, as determined by the Administrator in accordance with Section 3, and (ii) is the closing price per share of
the Common Stock on the last trading day of the Performance Period. 
  

	 	5.	Tax Withholding. The Company shall have the right to withhold from any payment due under the Plan and this Agreement an amount equal to the minimum
required withholding obligation in respect of any federal, state or local tax. 

  

	 	6.	No Rights as Stockholder. The Participant shall have no rights as a stockholder with respect to the shares of Common Stock underlying the Performance
Units. 

  

	 	7.	Compliance with Laws and Regulations. The issuance and transfer of the Performance Units shall be subject to compliance by the Company and the Participant
with all applicable requirements of securities laws and with all applicable requirements of any stock exchange on which the Company’s Common Stock may be listed at the time of such issuance or transfer. 

 

	 	8.	No Right to Continuous Service. Nothing in this Agreement shall be deemed by implication or otherwise to impose any limitation on any right of the Company
or any of its Affiliates to terminate the Participant’s Continuous Service at any time. 

  

	 	9.	Notices. All notices, demands and other communications provided for or permitted hereunder shall be made in writing and shall be by registered or
certified first class mail, return receipt requested, telecopier, courier service or personal delivery: 

 if to
the Company: 
 Key Energy Services, Inc. 
 1301 McKinney Street, Suite 1800 
 Houston, Texas 77010 

Facsimile: 713-651-4559 
 Attention: General Counsel 

  
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 if to the Participant, at the Participant’s last known address on file with the
Company. 
 All such notices, demands and other communications shall be deemed to have been duly given when delivered by hand, if
personally delivered; when delivered by courier, if delivered by commercial courier service; five (5) business days after being deposited in the mail, postage prepaid, if mailed; and when receipt is mechanically acknowledged, if telecopied.

  

	 	10.	Bound by Plan. By signing this Agreement, the Participant acknowledges that he or she has received a copy of the Plan and has had an opportunity to review
the Plan and agrees to be bound by all of the terms and provisions of the Plan. 

  

	 	11.	Beneficiary. The Participant may file with the Administrator a written designation of a beneficiary on such form as may be prescribed by the Administrator
and may, from time to time, amend or revoke such designation. If no designated beneficiary survives the Participant, the legal representative of the Participant’s estate shall be deemed to be the Participant’s beneficiary.

  

	 	12.	Successors. The terms of this Agreement shall be binding upon and inure to the benefit of the Company, its successors and assigns, and on the Participant
and the beneficiaries, executors and administrators, heirs and successors of the Participant. 

  

	 	13.	Amendment of Performance Unit Award. Subject to Section 14 of this Agreement, the Administrator at any time and from time to time may amend
the terms of this Performance Unit Award; provided, however, that the Participant’s rights under this Performance Unit Award shall not be impaired by any such amendment unless (a) the Company requests the Participant’s
consent and (b) the Participant consents in writing. 

  

	 	14.	Adjustment Upon Changes in Capitalization. The shares of Common Stock underlying the Performance Units may be adjusted as provided in the Plan including,
without limitation, Section 11 of the Plan. The Participant, by his or her execution and entry into this Agreement, irrevocably and unconditionally consents and agrees to any such adjustments as may be made at any time hereafter.

  

	 	15.	Governing Law. This Agreement shall be construed and interpreted in accordance with the laws of the State of Maryland without regard to principles of
conflicts of law thereof, or principles of conflicts of laws of any other jurisdiction that could cause the application of the laws of any jurisdiction other than the State of Maryland. 

 

	 	16.	Severability. Every provision of this Agreement is intended to be severable and any illegal or invalid term shall not affect the validity or legality of
the remaining terms. 

  

	 	17.	Headings. The headings of the Sections hereof are provided for convenience only and are not to serve as a basis for interpretation of construction, and
shall not constitute a part of this Agreement. 

  
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	 	18.	Signature in Counterparts. This Agreement may be signed in counterparts, each of which shall be deemed an original, with the same effect as if the
signatures thereto and hereto were upon the same instrument. 

  

	 	19.	Definitions. 

  

	 	(a)	“Final Stock Price” means the sum of (i) and (ii) where (i) is the average closing stock price of the Common Stock for the last thirty
(30) trading days of the Performance Period and (ii) is any dividends paid per share over the Performance Period. 

  

	 	(b)	“First Performance Period” means the period from January 1, 2013 through December 31, 2013. 

 

	 	(c)	“Initial Stock Price” means the average closing stock price of the Common Stock for the thirty (30) trading days immediately preceding the
Performance Period. 

  

	 	(d)	“Performance Period” means the First Performance Period and/or the Second Performance Period, as appropriate. 

 

	 	(e)	“Proxy Peer Group” means Baker Hughes Incorporated (BHI); Basic Energy Services, Inc. (BAS); Exterran Holdings, Inc. (EXH); Helix Energy Solutions
Group, Inc. (HLX); Noble Corporation (NE); Oceaneering International, Inc. (OII); Oil States International, Inc. (OIS); Patterson-UTI Energy, Inc. (PTEN); RPC, Inc. (RES); Superior Energy Services, Inc. (SPN); and Weatherford International Ltd.
(WFT); or any other corporation selected by the Administrator. 

  

	 	(f)	“Second Performance Period” means the period from January 1, 2014 through December 31, 2014. 

 

	 	(g)	“Total Shareholder Return” or “TSR” means the change in value of a share of Common Stock determined by dividing (a) by (b), where
(a) equals the Final Stock Price minus the Initial Stock Price and (b) equals the Initial Stock Price. 

[Signature Page Follows] 

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

			
	KEY ENERGY SERVICES, INC.
	
	  

	By:
	Title:
		
	Address:	 	 1301 McKinney Street,
 Suite
1800
 Houston, Texas 77010

 The undersigned hereby accepts the terms of this Agreement and the Plan. 

 

			
	  

  
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