Document:

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                                                                     EXHIBIT 4.2

                         WEATHERFORD INTERNATIONAL LTD.

                         WEATHERFORD INTERNATIONAL, INC.

                              OFFICERS' CERTIFICATE

                  I, Burt M. Martin, Senior Vice President of Weatherford
International Ltd., a Bermuda exempted company (the "Company"), and Senior Vice
President of Weatherford International, Inc., a Delaware corporation (the
"Guarantor"), hereby certify, pursuant to Sections 1.3, 1.4, 2.1 and 3.1 of the
Indenture, dated as of October 1, 2003 (the "Indenture"), among the Company, the
Guarantor, as guarantor, and Deutsche Bank Trust Company Americas, as Trustee
(the "Trustee"), that the Pricing Committee of the Board of Directors of the
Company at its meeting held on October 2, 2003, determined that the terms of a
series of Securities to be issued under the Indenture, and the form thereof, are
as follows:

Designation of Securities           4.95% Senior Notes due 2013 (the "Notes").

Aggregate Principal Amount          $250,000,000, except for Notes authenticated
                                    and delivered upon registration of transfer
                                    of, or in exchange for, or in lieu of, other
                                    Notes pursuant to Sections 3.4, 3.5, 3.6,
                                    9.6 or 11.7 of the Indenture and except for
                                    any Notes which pursuant to Section 3.3 are
                                    deemed never to have been authenticated and
                                    delivered. The Company may reopen this
                                    series of Notes for additional issuances
                                    from time to time pursuant to the terms of
                                    the Indenture.

Denominations                       $1,000 and any integral multiple thereof.

Stated Maturity Date                October 15, 2013.

Interest Rate                       4.95% per annum from October 7, 2003, to,
                                    but excluding, October 15, 2003.

Interest Payment Dates              Interest payable semiannually on April 15
                                    and October 15, commencing April 15, 2004.

Regular Record Dates                April 1 or October 1 next preceding an
                                    Interest Payment Date.

Optional Redemption                 The Notes are redeemable at the Company's
                                    option, in whole or in part, at any time and
                                    from time to time, at a redemption price
                                    equal to the greater of: (a) 100% of the
                                    principal amount of notes then outstanding
                                    to be redeemed, plus accrued and unpaid
                                    interest thereon to the redemption date; or
                                    (b) the sum of the present values of the
                                    remaining scheduled payments of principal
                                    and interest on the notes then outstanding
                                    to be redeemed (not including any portion of
                                    such payments of interest accrued as of the
                                    redemption date) discounted to the
                                    redemption date on a semi-annual basis
                                    (computed based on a 360-day year consisting
                                    of twelve 30-day months) at the Adjusted
                                    Treasury Rate, plus

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                                    20 basis points (0.20%), as calculated by an
                                    Independent Investment Banker, plus accrued
                                    and unpaid interest thereon to the
                                    redemption date.

                                    "Adjusted Treasury Rate" means, with respect
                                    to any redemption date: (a) the yield, under
                                    the heading which represents the average for
                                    the immediately preceding week, appearing in
                                    the most recently published statistical
                                    release designated "H.15(519)" or any
                                    successor publication which is published
                                    weekly by the Board of Governors of the
                                    Federal Reserve System and which establishes
                                    yields on actively traded United States
                                    Treasury securities adjusted to constant
                                    maturity under the caption "Treasury
                                    Constant Maturities," for the maturity
                                    corresponding to the Comparable Treasury
                                    Issue (if no maturity is within three months
                                    before or after the remaining life, as
                                    defined below, yields for the two published
                                    maturities most closely corresponding to the
                                    Comparable Treasury Issue will be determined
                                    and the Adjusted Treasury Rate will be
                                    interpolated or extrapolated from such
                                    yields on a straight line basis, rounding to
                                    the nearest month); or (b) if such release
                                    (or any successor release) is not published
                                    during the week preceding the calculation
                                    date or does not contain such yields, the
                                    rate per year equal to the semi-annual
                                    equivalent yield to maturity of the
                                    Comparable Treasury Issue, calculated using
                                    a price for the Comparable Treasury Issue
                                    (expressed as a percentage of its principal
                                    amount) equal to the Comparable Treasury
                                    Price for such redemption date. The Adjusted
                                    Treasury Rate will be calculated on the
                                    third business day preceding the redemption
                                    date.

                                    "Comparable Treasury Issue" means the United
                                    States Treasury security selected by an
                                    Independent Investment Banker as having a
                                    maturity comparable to the remaining term of
                                    the notes to be redeemed that would be used,
                                    at the time of selection and in accordance
                                    with customary financial practice, in
                                    pricing new issues of corporate debt
                                    securities of comparable maturity to the
                                    remaining term of such notes.

                                    "Comparable Treasury Price" means (1) the
                                    average of five Reference Treasury Dealer
                                    Quotations for the redemption date, after
                                    excluding the highest and lowest Reference
                                    Treasury Dealer Quotations, or (2) if an
                                    Independent Investment Banker obtains fewer
                                    than five such Reference Treasury Dealer
                                    Quotations, the average of all such
                                    quotations.

                                      -2-
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                                    "Independent Investment Banker" means
                                    Deutsche Bank Securities Inc. or Merrill
                                    Lynch, Pierce, Fenner & Smith Incorporated
                                    or any of their respective successors, as
                                    designated by the Company, or if all such
                                    firms are unwilling or unable to serve as
                                    such, an independent investment and banking
                                    institution of national standing appointed
                                    by the Company.

                                    "Reference Treasury Dealer" means: (a)
                                    Deutsche Bank Securities Inc. and Merrill
                                    Lynch, Pierce, Fenner & Smith Incorporated
                                    and each of their respective successors;
                                    provided that, if any such Reference
                                    Treasury Dealer ceases to be a primary U.S.
                                    Government securities dealer in New York
                                    City (Primary Treasury Dealer), the Company
                                    will substitute another Primary Treasury
                                    Dealer; and (b) up to one other Primary
                                    Treasury Dealer selected by the Company.

                                    "Reference Treasury Dealer Quotations"
                                    means, with respect to each Reference
                                    Treasury Dealer and any redemption date, the
                                    average, as determined by an Independent
                                    Investment Banker, of the bid and asked
                                    prices for the Comparable Treasury Issue
                                    (expressed in each case as a percentage of
                                    its principal amount) quoted in writing to
                                    an Independent Investment Banker at 5:00
                                    p.m., New York City time, on the third
                                    business day preceding such redemption date.

Place of Payment                    The principal of and interest on the Notes
                                    shall be payable, Notes may be surrendered
                                    for registration of transfer, Notes may be
                                    surrendered for exchange, and notices and
                                    demands to or upon the Company in respect of
                                    the Notes and the Indenture may be served,
                                    at the places designated therefore in the
                                    Indenture.

Guarantees                          The Notes will be guaranteed by the

                                    Guarantor pursuant to the Guarantees, and
                                    the provisions of Article Fourteen shall
                                    apply to the Notes.

Global Securities                   The Notes shall be issued as a Global
                                    Security. The Depository Trust Company shall
                                    be the Depository.

Events of Default                   In addition to the Events of Default
                                    specified in Section 5.1 of the Indenture,
                                    the following additional Event of Default
                                    shall apply with respect to the Notes:

                                    "the acceleration of the maturity of any
                                    indebtedness for borrowed money of the
                                    Company or any Subsidiary (other than the
                                    Notes or any Non-Recourse Indebtedness)
                                    having

                                      -3-
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                                    an aggregate principal amount outstanding in
                                    excess of $50,000,000, if such acceleration
                                    is not rescinded or annulled, or such
                                    indebtedness shall not have been discharged,
                                    within 15 days after written notice thereof
                                    to the Company."

                                    "Non-Recourse Indebtedness" shall mean
                                    indebtedness of the Company or any
                                    Subsidiary in respect of which the recourse
                                    of the holder of such indebtedness, whether
                                    direct or indirect and whether contingent or
                                    otherwise, is effectively limited to
                                    specified assets, and with respect to which
                                    neither the Company nor any Subsidiary
                                    provides any credit support.

Settlement                          Payments in respect of principal of and
                                    interest on the Notes shall be made by the
                                    Company in immediately available funds.

Form of Notes                       Attached as Annex A, and incorporated herein
                                    by reference.

                  1. I have read Sections 1.3, 1.4, 2.1, 2.2, 2.3 and 3.1 of the
Indenture and the definitions in the Indenture relating thereto.

                  2. The statements made herein are based either upon my
personal knowledge or on information, data and reports furnished to me by the
officers, counsel or employees of the Company and the Guarantor who have
knowledge of the relevant facts.

                  3. In my opinion, I have made such examination or
investigation as is necessary to enable me to express an informed opinion as to
whether or not all conditions provided for in the Indenture with respect to the
determination of the terms of the Notes and the form thereof, and the
authentication and delivery of the Notes, have been complied with.

                  4. In my opinion, all conditions precedent to the
determination of the terms and form of the Notes and to the authentication by
the Trustee of $250,000,000 principal amount thereof have been complied with and
such Notes may be delivered in accordance with the Indenture.

                  Capitalized terms not otherwise defined herein have the
meaning provided in the Indenture.

              [Remainder of page has been intentionally left blank]

                                      -4-
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                  IN WITNESS WHEREOF, I have hereunto signed my name this 7th
day of October, 2003.

                                             /s/  BURT M. MARTIN
                                             -----------------------------------
                                             Burt M. Martin
                                             Senior Vice President
                                             Weatherford International Ltd.

                                             /s/  BURT M. MARTIN
                                             -----------------------------------
                                             Burt M. Martin
                                             Senior Vice President
                                             Weatherford International, Inc.

                                      -5-exv10w8

 

September 12, 2003

Exhibit 10.8

Mr. Charlie Dickson

67 Woodridge Drive

New Canaan, CT 06840

Dear Charlie:

Welcome to the United Components family. All of us at United Components and
Carlyle are enthusiastic about your joining our team and look forward to
working with you.

Detailed below is a summary of the mutually agreed upon terms of your
employment. Although you are being hired as Chief Financial Officer of United
Components, Inc. (“UCI”), you shall be employed by Champion Laboratories, Inc
(“Champion”). For purposes of this agreement, as the context requires herein,
UCI and any of its direct or indirect subsidiaries, including but not limited
to Champion, individually or collectively, shall be referred to in this
Agreement as the “Company.”

	 	 	 
	Employment Term	 	
The initial term of employment under
this agreement (the “Initial Term”)
shall be for the period beginning on
the September 2, 2003, (the
“Effective Date”) and ending on the
third anniversary thereof, unless
earlier terminated as provided
herein. The employment term shall
automatically be extended for
successive one-year periods
(“Extension Terms” and, collectively
with the Initial Term, the “Term”)
unless you or the Company give
notice of non-extension to the other
party no later than 90 days prior to
the expiration of the
then-applicable Term.
	 	 	 
	Position and Duties	 	
You shall serve as Chief Financial
Officer of the Company and shall
have the authorities duties and
responsibilities customarily
commensurate with such position and
such additional customary
responsibilities, duties and
authority as may from time to time
be reasonably assigned to you by the
Board. You shall report to me and
will be subject to my oversight and
direction. You shall devote
substantially all your working time
and efforts to the business and
affairs of the Company and agree to
observe and comply with the
Company’s rules and policies as
adopted by the Company from time to
time.
	 	 	 
	 	 	
As of the Effective Date, Carlyle
shall cause you to be appointed or
elected to the Board of Directors of
United Components, Inc.

 

 

	 	 	 	 	 
	 	 	 	 	(the
“Board”). During the Term, the
Board shall propose you for
re-election to the Board.
	 	 	 	 	 
	Compensation	 	
•
	 	Base Salary. You shall receive a
base salary at a rate of $300,000
per annum, which shall be paid in
accordance with the customary
payroll practices of the Company,
subject to any increase as
determined by the Compensation
Committee of the Board in its sole
discretion (the “Annual Base
Salary”)
	 	 	 	 	 
	 	 	
•
	 	Bonus. During the Term, you will
be eligible to participate in an
annual performance-based bonus plan
established by the Compensation
Committee at a target level of
$150,000 (“Target Level”), and a
maximum of $450,000. Such bonus
shall be payable at such time as
bonuses are paid to other senior
executive officers who participate
therein. Notwithstanding the
foregoing, with respect to each of
the Company’s fiscal years that ends
during the Term, the amount of your
annual bonus payable pursuant to
such plan shall be determined by the
parameters established by the
Compensation Committee. With
respect to the fiscal year ending
December 31, 2003, you shall be
eligible to receive a prorated
portion 33% of your annual bonus
based on the number of days you are
employed by the Company during such
fiscal year
	 	 	 	 	 
	 	 	
•
	 	Benefits. You shall be entitled
to participate in the employee
benefit plans, programs and
arrangements sponsored by Champion
which are applicable to senior
officers of Champion.
	 	 	 	 	 
	 	 	
•
	 	Vacation. You shall be entitled
to four weeks of vacation annually.
	 	 	 	 	 
	Equity Participation	 	 	 	You shall be eligible to participate
in the Company’s stock option plan,
subject to all related documents.
You shall be granted a non-qualified
stock option to purchase 21,000
shares of common stock in the
Company’s parent company, UCI
Acquisition Holdings, Inc., at an
exercise price of $100.00 per share.
The right to exercise the option
will be eligible to vest over a
five-year time period in accordance
with the terms set forth on Appendix
A.
	 	 	 	 	 
	Termination of Employment	 	 	 	If your employment shall terminate
for Cause (as defined on Appendix
B), without Good Reason (as defined
on Appendix B), or due to
non-extension of this Agreement by
you, you shall not be entitled to
any severance payment or benefits
(other than any accrued but unpaid
Annual Base Salary and vacation
days)
	 	 	 	 	 
	 	 	 	 	If your employment shall terminate without Cause or for Good

2

 

	 	 	 
	 	 	
Reason,
the Company shall pay, in accordance
with normal payroll practices, your
Annual Base Salary for twelve months
and shall pay you a lump sum equal
to a pro-rata portion of your Target
Level annual bonus for the year of
termination, based on the number of
days you were employed by the
Company during the applicable year.
Additionally, you and your
dependents shall be eligible for
continuing coverage under all
Company group health benefit plans
for up to twelve months.
	 	 	 
	 	 	
If your employment shall terminate
due to your death, the Company shall
pay your estate, in accordance with
normal payroll practices, your
Annual Base Salary for six months
and shall pay you a lump sum equal
to a pro-rata portion of your Target
Level annual bonus for the year of
termination, based on the number of
days you were employed by the
Company during the applicable year,
as determined in good faith by the
Compensation Committee.
	 	 	 
	Confidentiality	 	
All information acquired by you from
the Company will be considered
“confidential” and will not be
disclosed by you without the prior
written consent of the Company. You
shall execute and abide by the terms
and conditions of the Company’s
customary confidentiality agreement,
the terms and conditions of which
are incorporated herein by
reference.
	 	 	 
	Non-Disclosure of
Proprietary
Information	 	
You shall, in perpetuity, maintain
in confidence any confidential or
proprietary information or trade
secrets relating to the Company.
Upon expiration of the Term, you
shall return all correspondence,
drawings, materials, documents, and
similar items concerning the
Company, its clients, products or
processes. You may respond to valid
subpoena, but shall give the Company
notice thereof.
	 	 	 
	Non-Competition and
and Non-
Solicitation	 	
At any time during the Term or
during the 12-month period following
the date of your termination for
Cause or resignation without Good
Reason, (i) you shall not directly
or indirectly engage in, or manage
or operate any person, firm,
corporation, partnership or business
that engages in any business which
materially competes with the Company
or any entity owned by the Company
(including any direct and indirect
subsidiaries of the Company)
anywhere in the world, and (ii) you
shall not, and shall not permit any
of your affiliates to, directly or
indirectly, recruit or otherwise
solicit or induce any non-clerical
employee, customer, subscriber or
supplier of the Company to terminate
its employment or arrangement with
the Company, otherwise change its
relationship with the Company, or
establish any relationship

3

 

	 	 	 
	 	 	
with you
or any of your affiliates for any
business purpose that is prohibited
by (i) above. Nothing herein shall
prevent you from serving as a
reference.
	 	 	 
	 	 	
Any violation of by you of this
non-compete and non-solicitation
clause shall result in your
forfeiture of any severance benefits
hereunder. Additionally, the
Company may seek any other remedy
which may be available at law or in
equity and shall be entitled to
specific performance and injunctive
relief.
	 	 	 
	Non-Disparagement	 	
At any time during the Term or
during the 12-month period following
the later of the expiration of the
Term or your date of termination for
any reason, each of the parties
hereto agrees that it will not
disparage or denigrate to any person
any aspect of his or its past
relationship with the other, nor the
character of the other or the
other’s agents, representatives,
products, or operating methods,
whether past, present, or future,
and whether or not based on or with
reference to their past
relationship; provided, however,
that this paragraph shall have no
application to any evidence or
testimony requested of either party
hereto by any court or government
agency.
	 	 	 
	Arbitration	 	
Any dispute or controversy arising
under or in connection with this
Agreement shall be settled
exclusively by arbitration,
conducted before an arbitrator in
New York, New York in accordance
with the rules of the American
Arbitration Association then in
effect. Judgment may be entered on
the arbitration award in any court
having jurisdiction, provided,
however, that the Company shall be
entitled to seek a restraining order
or injunction in any court of
competent jurisdiction to prevent
any continuation of any violation of
the covenants contained in this
Agreement and you hereby consent
that such restraining order or
injunction may be granted without
requiring the Company to post a
bond. The arbitrator shall require
the non-prevailing party to pay the
arbitrator’s full fees and expenses
or, if in the arbitrator’s opinion
there is no prevailing party, the
arbitrator’s fees and expenses will
be borne equally by the parties
thereto.

4

 

     Charlie, should you have any questions regarding the foregoing, please feel
free calling me at any time. Otherwise, please sign where indicated below and
send the original copy to me. All of us look forward to working with you.

Yours truly,

	 	 	 
	Bruce M. Zorich	 	
Accepted and Agreed: /s/ CHARLIE DICKSON                                      
	CEO	 	                                               Charlie Dickson
	United Components, Inc.	 	 
	Director	 	 
	Champion Laboratories, Inc.	 	 

5

 

APPENDIX A

Stock Option Terms

Subject to the terms of the stock option plan and the stock option agreement,
below is a summary of the vesting schedule for the stock options granted to
you. The stock option shall vest over a five-year time period according to the
following:

	•
	 	50% of the shares subject to the
stock option shall become exercisable based on the
passage of time, or 10% in each of the five years

	•
	 	50% of the shares subject to
the stock option shall become exercisable based on
Company performance (“performance option”), or 10% in
each of the five years. The breakdown of the
performance measures is as follows:

	•
	 	12.5% on achieving Case 1 EBITDA (2.5% each year)

	•
	 	12.5% on achieving Case 1 free cash flow(2.5% each
year)

	•
	 	12.5% on achieving Case 2 EBITDA (2.5% each year)

	•
	 	12.5% on achieving Case 2 free cash flow(2.5% each
year)

	•
	 	Any portion of the performance
option that does not vest in any
given fiscal year may vest in future years if certain
cumulative
EBITDA or free cash flow targets are achieved.

	•
	 	Once vested in a portion of the performance option, it can never
be lost due to subsequent Company performance.

	•
	 	Performance option vesting is based on total Company
performance and not on the results of individual businesses.

	•
	 	You will also be eligible for “super option” vesting upon
the Company achieving 110% or greater of the
Case 2 performance targets per your conversations with
Carlyle.

For your information, Case 1 and Case 2 five-year projections are contained in
Appendix C.

 

APPENDIX B

Definitions of Cause and Good Reason

The Company shall have “Cause” to terminate you upon:

	(i)
	 	your failure to follow a written order of the Board and such
failure is not remedied within 30 days after receipt of notice;

	(ii)
	 	your gross or willful misconduct with regard to the Company;

	(iii)
	 	your conviction of a felony or crime involving material dishonesty;

	(iv)
	 	fraud or personal dishonesty involving the Company’s assets; or

	(v)
	 	the unlawful use (including being under the influence) or
possession of illegal drugs on the Company’s premises or while
performing your duties and responsibilities for the Company.

You shall have “Good Reason” to resign your employment upon the occurrence of
any of the following:

	(i)
	 	a material diminution in the nature of scope of your
responsibilities, duties or authority; or

	(ii)
	 	the Company’s material breach of this agreement.

You may not resign your employment for Good Reason unless:

	(A)
	 	you have provided the Company
with at least 30 days prior written notice of your
intent to resign for Good Reason; and

	(B)
	 	the Company has not remedied the
alleged violation(s)
within the 30-day period.

 

APPENDIX C

Case 1 and Case 2 Projections

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