Document:

Exhibit

Exhibit 10.29

HELMERICH & PAYNE, INC.

2020 OMNIBUS INCENTIVE PLAN

RESTRICTED STOCK AWARD AGREEMENT
	
				
	Participant Name:
	Date of Grant:

	 
	 
	 
	 

	 
	 
	Vesting Schedule

	Shares Subject to Restricted Stock Award:
	

Vesting Dates
	Percent of
Award Vested

	 
	 
	33 and 1/3%

	 
	 
	 
	33 and 1/3%

	 
	 
	33 and 1/3%

	Expiration Date:
	 
	 

	 
	 
	 

RESTRICTED STOCK AWARD AGREEMENT
UNDER THE HELMERICH & PAYNE, INC.
2020 OMNIBUS INCENTIVE PLAN
THIS RESTRICTED STOCK AWARD AGREEMENT (the “Award Agreement”), is made as of the grant date set forth on the cover page of this Award Agreement (the “Cover Page”) at Tulsa, Oklahoma by and between the participant named on the Cover Page (the “Participant”) and Helmerich & Payne, Inc. (the “Company”).
W I T N E S S E T H:
WHEREAS, the Participant is an employee of the Company or an Affiliate or Subsidiary of the Company, and it is important to the Company that the Participant be encouraged to remain in the employ of the Company or its Affiliate or Subsidiary; and
WHEREAS, in recognition of such facts, the Company desires to provide to the Participant an opportunity to receive Common Shares of the Company, as hereinafter provided, pursuant to the “Helmerich & Payne, Inc. 2020 Omnibus Incentive Plan” (the “Plan”), a copy of which has been provided to the Participant; and
WHEREAS, any capitalized terms used but not defined herein have the same meanings given them in the Plan.
NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth and for good and valuable consideration, the Participant and the Company hereby agree as follows:
Section 1.Grant of Restricted Stock Award.  The Company hereby grants to the Participant an award (the “Restricted Stock Award”) of _____________ (____) Shares set forth on the Cover Page, under and subject to the terms and conditions of this Award Agreement and the Plan, which is incorporated herein by reference and made a part hereof for all purposes.
Section 2.    Stock Held by Company.  The Restricted Stock Award shall be evidenced via a book entry registration or the issuance of a stock certificate or certificates as determined by the Company.  As a condition precedent to the book entry registration or the issuing of a certificate representing Shares subject to the Restricted Stock Award, the Participant must deliver to the Company a duly executed irrevocable stock power (in blank) covering such Shares represented by the certificate in the form of Exhibit A attached hereto.  Shares subject to the Restricted Stock Award held by the Company pursuant to this Award Agreement shall constitute issued and outstanding shares of Common Stock of the Company for all corporate purposes, and the Participant shall be entitled to vote such Shares and shall receive all cash dividends thereon provided that the right to vote or receive such dividends shall terminate with respect to Shares which have been forfeited as provided under this Award Agreement.  While such Shares are held by the Company and until such Shares have vested on the applicable date set forth on the Cover Page (the 

“Vesting Date”), the Participant for whose benefit such Shares are held shall not have the right to encumber or otherwise change, sell, assign, transfer, pledge or otherwise dispose of such unvested Shares or any interest therein, and such unvested Shares shall not be subject to attachment or any other legal or equitable process brought by or on behalf of any creditor of such Participant; and any such attempt to attach or receive Shares in violation of this Award Agreement shall be null and void.  
Section 3.    Vesting of Restricted Stock Award.  
(a)    Vesting Schedule.  The Participant shall be eligible to vest in this Restricted Stock Award pursuant to the vesting schedule set forth on the Cover Page (the “Vesting Schedule”), subject to the applicable provisions of the Plan and this Award Agreement having been satisfied.  The Participant shall be vested as of the applicable Vesting Date in the number of Shares determined by multiplying the aggregate number of Shares subject to the Restricted Stock Award set forth on the Cover Page by the corresponding percentage set forth on the Cover Page.
(b)    Delivery of Shares.  Reasonably promptly following vesting of a Share, the Company shall cause to be delivered to the Participant a certificate (or make a book entry in the Participant's name) evidencing such Share, free of the legend described in Section 14.
Section 4.    Term of Restricted Stock Award.  Subject to earlier termination as herein provided, the Restricted Stock Award shall expire at the close of business on the expiration date set forth on the Cover Page and no Share subject hereto may become vested after such expiration date.  Unless vesting is accelerated or extended pursuant to the terms of Section 7, unvested Shares subject to the Restricted Stock Award shall be forfeited upon Participant’s termination of employment.
Section 5.    Nontransferability of Restricted Stock Award.  The Restricted Stock Award shall not be transferable by the Participant otherwise than by will or the laws of descent and distribution.  Any attempted assignment, transfer, pledge, hypothecation or other disposition of the Restricted Stock Award contrary to the provisions hereof shall be null and void and without effect.
Section 6.    Employment.  Nothing in the Plan or in this Award Agreement shall confer upon the Participant any right to continue in the employ of the Company or its Affiliates or Subsidiaries, or interfere in any way with the right of the Company or its Affiliates or Subsidiaries to terminate the Participant’s employment at any time.
Section 7.    Special Vesting of Restricted Stock Award.  In the event of the Participant’s death, any and all unvested Shares subject to the Restricted Stock Award shall become automatically fully vested. The Committee, in its sole discretion, may accelerate, in whole or in part, the vesting of the Restricted Stock Award to the extent the applicable Vesting Date(s) has not yet occurred upon the Participant’s (i) Disability, (ii) Retirement or (iii) upon a Change in Control.

Section 8.    Non-Disclosure and Confidential Information; Nonsolicitation.
(a)    Confidential Information.  For purposes of this Award Agreement, “confidential information” includes, without limitation, non-public information with respect to the Company’s or its Subsidiaries’ finances, oil and gas drilling processes, costs and pricing, customer contracts, contracts and requirements, vendor or supplier contracts, contracts for other information, compensation structures, recruitment and training policies, operation support and backup facilities, service and product formulas, concepts, data, know-how improvements and strategies, computer programs and listings (whether in source code and/or object code format), software design and methodology, research and development or investigations, marketing strategies, ideas and plans for ongoing or future businesses, new business or other developments, new and innovative service or product ideas, inventions, potential acquisitions or divestitures, business and litigation strategies and future business and litigation plans and any other information or material that is of special or unique value to the Company or its Subsidiaries maintained as confidential and not disclosed to the general public (whether through an annual report and/or filings with the Securities and Exchange Commission or otherwise).
(b)    Non-Disclosure.
(i)    Participant acknowledges that (A) the Company and its Subsidiaries have devoted substantial time, effort, and resources to develop and compile the confidential information; (B) public disclosure of such confidential information would have an adverse effect on the business of the Company and its Subsidiaries; (C) the Company and its Subsidiaries would not disclose such information to Participant without the agreements and covenants set forth in this Section 8(b) and (D) the provisions of this Section 8(b) are reasonable and necessary to prevent the improper use and/or disclosure of the confidential information.
(ii)    Participant agrees that Participant shall not, directly or indirectly, at any time during his or her employment with the Company or a Subsidiary or after termination of such employment with the Company or a Subsidiary, without the prior written consent of an authorized officer of the Company, disclose confidential information to any third party and/or use confidential information for the benefit of Participant or any third party.
(c)    Nonsolicitation.  During employment with the Company and for a period of twelve (12) months thereafter, Participant shall not solicit the established customers of the Company wherever located (or if this geographic area shall be unenforceable by law, then in such geographic area as shall be enforceable) for the sale of any product or service competitive with any product or service offered for sale by the Company at the time of the termination of Participant’s employment.  For purposes of this Award Agreement, “solicit” shall mean to contact an established customer directly, whether by announcement, e-mail, note, letter or other direct mail, telephone call, personal visit, business meeting, or any other method, which contact either is designed to or has the effect of inducing, promoting or advancing a prohibited sale by Participant or on Participant’s 

behalf to that customer.  An “established customer” means any entity that Participant knows or reasonably should know has a previously established relationship with the Company that the Company may reasonably anticipate will continue based upon the entity’s continued need for the products and/or services that the Company provides.  “Offered for sale” includes products/services which Participant knows or reasonably should know have been ordered or have otherwise been prepared by the Company for imminent offering.  Further, during employment with the Company and for a period of twelve (12) months thereafter, Participant shall not, directly or indirectly, solicit any of the Company’s employees or independent contractors to become employees or independent contractors of another person or business.  
(d)    In the event the Committee determines in its sole judgment that the Participant has violated the provisions of this Section 8, any unvested Shares that have not yet been delivered pursuant to Section 3 shall be forfeited.  Nothing herein shall be construed as prohibiting the Company or its Subsidiaries from pursuing any other remedies available to the Company or its Subsidiaries for a violation of this Section 8, including, without limitation, injunctive relief and the recovery of damages. Participant acknowledges and agrees that the provisions of this Section 8 are reasonable and necessary to protect the interests of the Company and are not intended to be applied or interpreted as a covenant against competition.
(e)    Defend Trade Secrets Act. Pursuant to Section 7 of the Defend Trade Secrets Act of 2016 (which added 18 U.S.C. § 1833(b) to the United States Code), the Participant acknowledges that the Participant shall not have criminal or civil liability under any federal or State trade secret law for the disclosure of a trade secret that (i) is made (A) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney and (B) solely for the purpose of reporting or investigating a suspected violation of law; or (ii) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. Nothing in this Award Agreement is intended to conflict with 18 U.S.C. § 1833(b) or create liability for disclosures of trade secrets that are expressly allowed by such Section. Further, nothing in this Award Agreement or any other agreement between the Participant and the Company shall prohibit or restrict the Participant from making any disclosure of information or documents to any governmental agency, legislative body, self-regulatory organization, or the Legal Department of the Company.
Section 9.    Suspension or Termination of Awards.  
(a)This Award Agreement and all rights the Participant, or any person claiming through the Participant, may have under this Award Agreement shall be subject to all applicable laws, government regulations, stock exchange listing requirements, and policies the Company has established or may establish after the date of this Award Agreement, including without limitation any policy regarding the clawback or recoupment of compensation.

(b)In any event, if at any time the Committee reasonably believes that the Participant has committed an act of misconduct as described in this subsection (b), the Committee may suspend the Participant’s right to exercise or receive any Award pending a determination of whether an act of misconduct has been committed.  If the Committee determines the Participant has committed an illegal act, fraud, embezzlement or deliberate disregard of Company rules or policies (including any violation of the Participant’s non-disclosure, non-compete or similar agreement) that may reasonably be expected to result in loss, damage or injury to the Company, the Committee may (i) cancel any outstanding Award granted to the Participant, in whole or in part, whether or not vested or deferred and/or (ii) if such conduct or activity occurs during a Company fiscal year in which there was also an exercise or receipt of an Award, require the Participant to repay to the Company any gain realized or value received upon the exercise or receipt of such Award (with such gain or value received valued as of the date of exercise or receipt).  Cancellation and repayment obligations will be effective as of the date specified by the Committee.  Any repayment obligation may be satisfied in Common Shares or cash or a combination thereof (based upon the Fair Market Value of Common Shares on the day of payment), and the Committee may provide for an offset to any future payments owed by the Company or any affiliate to the Participant if necessary to satisfy the repayment obligation.  The determination regarding cancellation of an Award or a repayment obligation shall be within the sole discretion of the Committee and shall be binding upon the Participant and the Company.
Section 10.    Change in Control.  Subject to Section 7, upon the occurrence of a Change in Control, this Restricted Stock Award shall be subject to Section 13 of the Plan.
Section 11.    Securities Law Restrictions.  The Restricted Stock Award shall not be vested to any extent, and the Company shall not be obligated to transfer any Shares to the Participant upon the vesting of the Restricted Stock Award, if such vesting, in the opinion of counsel for the Company, would violate the Securities Act of 1933, as amended, or any other federal or state statutes having similar requirements as may be in effect at that time.  The Company shall be under no obligation to register the Restricted Stock Award or the Shares underlying the Restricted Stock Award pursuant to the Securities Act or any other federal or state securities laws.
Section 12.    Withholding of Taxes.  The Company may make such provision as it may deem appropriate for the withholding of any applicable federal, state, or local taxes that it determines it may be obligated to withhold or pay in connection with the vesting of the Shares subject to the Restricted Stock Award.  A Participant must pay the amount of taxes required by law upon the vesting of the Shares subject to the Restricted Stock Award (i) in cash or by check, (ii) by the Participant surrendering, or the Company retaining from the Shares to be issued to the Participant, that number of Shares having a Fair Market Value on the date of payment equal to the amount of such required withholding, or (iii) by a combination of the foregoing.

Section 13.    Legends.  The Shares that are subject to the Award shall be subject to the following legend:
“THE SHARES OF STOCK EVIDENCED BY THIS CERTIFICATE ARE SUBJECT TO AND ARE TRANSFERABLE ONLY IN ACCORDANCE WITH THAT CERTAIN RESTRICTED STOCK AWARD AGREEMENT UNDER THE HELMERICH & PAYNE, INC. 2020 OMNIBUS INCENTIVE PLAN DATED THE [___] DAY OF [________], 20[__]. ANY ATTEMPTED TRANSFER OF THE SHARES OF STOCK EVIDENCED BY THIS CERTIFICATE IN VIOLATION OF SUCH RESTRICTED STOCK AWARD AGREEMENT SHALL BE NULL AND VOID AND WITHOUT EFFECT.  A COPY OF THE RESTRICTED STOCK AWARD AGREEMENT MAY BE OBTAINED FROM THE SECRETARY OF HELMERICH & PAYNE, INC.”
Section 14.    Notices.  All notices and other communications under this Award Agreement shall be in writing and shall be delivered personally or given by certified or registered mail with return receipt requested, and shall be deemed to have been duly given upon personal delivery or three days after mailing to the respective parties as follows: (i) if to the Company, Helmerich & Payne, Inc., 1437 South Boulder Avenue, Tulsa, Oklahoma 74119,  Attn: Secretary of the Company and (ii) if to the Participant, using the contact information on file with the Company.  Either party hereto may change such party’s address for notices by notice duly given pursuant hereto.
Section 15.    Section 83(b) Election.  If the Participant makes an election under Section 83(b) of the Code, or any successor section thereto, to be taxed with respect to the Shares subject to the Restricted Stock Award as of the date of grant, the Participant shall deliver a copy of such election to the Company immediately after filing such election with the Internal Revenue Service, together with any required tax withholding.  The Participant hereby acknowledges that it is the Participant’s sole responsibility to file timely the election under Section 83(b) of the Code.
Section 16.    Conflicts; Severability.  In the event of any conflicts between this Award Agreement and the Plan, the latter shall control.  Should any provision of this Award Agreement be held by a court of competent jurisdiction to be unenforceable, or enforceable only if modified, such holding shall not affect the validity of the remainder of this Award Agreement, the balance of which shall continue to be binding upon the parties hereto with any such modification (if any) to become a part hereof and treated as though contained in this original Award Agreement.
Section 17.    No Part of Other Plans.  The benefits provided under this Award Agreement or the Plan shall not be deemed to be a part of or considered in the calculation of any other benefit provided by the Company or its Subsidiaries or Affiliates to the Participant.

Section 18.    Protections Against Violations of Agreement.  No purported sale, assignment, mortgage, hypothecation, transfer, pledge, encumbrance, gift, transfer in trust (voting or other) or other disposition of, or creation of a security interest in or lien on, the Restricted Stock Award or any of the Shares underlying it in violation of the provisions of this Award Agreement will be valid, and the Company will not transfer any such Shares on its books, unless and until there has been full compliance with such provisions to the satisfaction of the Company.  The foregoing restrictions are in addition to and not in lieu of any other remedies, legal or equitable, available to enforce said provisions.
Section 19.    Failure to Enforce Not a Waiver.  The failure of the Company to enforce at any time any provision of this Award Agreement shall in no way be construed to be a waiver of such provision or of any other provision hereof.
Section 20.    Participant and Award Subject to Plan.  As specific consideration to the Company for the Award, the Participant agrees to be bound by the terms of the Plan and this Agreement.
*    *    *    *

IN WITNESS WHEREOF, the parties have executed this Restricted Stock Award Agreement as of the day and year first above written.
HELMERICH & PAYNE, INC., a Delaware corporation
By:    
      
“COMPANY”
    
“PARTICIPANT”

EXHIBIT A
ASSIGNMENT SEPARATE FROM CERTIFICATE
FOR VALUE RECEIVED, ______________, an individual (“Grantee”), hereby irrevocably assigns and conveys to Helmerich & Payne, Inc., those _________________________________ (_______) shares of the Common Capital Stock of Helmerich & Payne, Inc., a Delaware corporation, $.[__] par value, subject to that certain Restricted Stock Award Agreement dated as of [__________] between Helmerich & Payne, Inc. and Grantee.
DATED:  
    
_____________________Exhibit

Exhibit 10.30
AGREEMENT AND RELEASE

This Agreement and Release (the “Agreement and Release”) is made and entered into by and between Rob Stauder, a resident of the State of Oklahoma, (“Employee”) and Helmerich & Payne International Drilling Co., a Delaware corporation (“Company”).  This Agreement and Release shall become effective on the eighth day after Employee signs and delivers this Agreement to Company (the “Effective Date”), provided that Employee does not revoke this Agreement prior to such date pursuant to Paragraph 4.b. below, and provided further that Employee signs this Agreement on or before July 31, 2020.   

1.Employee acknowledges and agrees that employment with Company as SVP & Chief Engineer, and in any other capacity, shall terminate effective July 17, 2020 (the “Separation Date”).  Employee’s total compensation, payments and benefits from Company shall be as follows (in each case less applicable statutory deductions and authorized withholdings):

a.    Employee will receive regular pay through the Separation Date.

b.    Employee will be paid for all earned but unused vacation as of the Separation Date. 

c.    Employee will receive, under separate cover, general information regarding rights to elect health insurance continuation coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”).

Nothing in this Agreement and Release is intended to impair Employee’s right to any of the benefits listed in this Paragraph 1.  Employee’s participation in other Company benefit plans and programs as of the Separation Date will end or change due to employment termination based on the terms of those plans and programs, which shall continue in effect in accordance with their terms. 

2.Provided Employee agrees to and accepts the terms of this Agreement and Release, complies with the obligations of this Agreement and Release, and does not timely revoke acceptance, Employee will be eligible to receive:

a.    A lump sum payment in the amount of $750,289.14, less applicable withholdings and deductions (the “Separation Payment”), plus, a lump sum equal to 18 months of COBRA in an amount equal to $22,729.68.

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b.    Notwithstanding anything in the applicable Restricted Stock Award Agreements to the contrary, immediately prior to the Effective Date of this Agreement, an additional 18,886 shares of the Restricted Stock previously granted to Employee pursuant to the restricted stock awards dated 11/04/2019 shall vest, which results in Employee owning a total of 18,886 shares of vested Restricted Stock as more specifically set forth in Exhibit A (the “Vested Stock”).  Except as set forth on Exhibit A, Employee acknowledges and agrees that the Employee has no further stock, stock options, other equity interests or rights to purchase any equity interests in the Company of any kind.

Employee agrees that the Separation Payment represents additional consideration beyond that to which Employee is entitled and is sufficient consideration for execution of this Agreement and Release, including the release of claims against Company. The Separation Payment will be processed only after Employee completes and returns this Agreement and Release, and, following the expiration of seven (7) days from the date Employee returns the Agreement and Release. 

3.    In exchange for the Separation Payment described in Paragraph 2 of this Agreement and Release, Employee agrees, on behalf of himself, and his legal representatives, heirs and beneficiaries, to fully and forever relieve, release and discharge Company, its past, present and future successors, assigns, parent, subsidiaries, operating units, affiliates and divisions (and the agents, representatives, officers, directors, managers, members, partners, employees and attorneys of such entities) (hereinafter collectively referred to as the “Released Parties”), from all claims, debts, liabilities, demands, obligations, promises, acts, agreements, costs, expenses, damages, actions, and causes of action, whether in law or in equity, whether known or unknown, suspected or unsuspected, arising from Employee’s employment with and termination from Company, as well as any injuries or damages suffered during the course of Employee’s employment with Company, including, but not limited to, any and all claims pursuant to the Age Discrimination in Employment Act of 1967, as amended, (29 U.S.C. §621, et seq.), including the Older Workers Benefit Protection Act, which prohibits age discrimination in employment; Title VII of the Civil Rights Act of 1964 (42 U.S.C. § 2000e, et seq.), as amended by the Civil Rights Act of 1991, which prohibits discrimination and/or harassment in employment based on race, color, national origin, religion or sex; the Civil Rights Act of 1966 (42 U.S.C. §1981, 1983 and 1985), which prohibits violations of civil rights; Section 510 of the Employment Retirement Income Security Act of 1974, as amended (29 U.S.C. § 1140), which protects employees from employment discrimination relative to certain employee benefits; the Americans with Disabilities Act of 1990, as amended (42 U.S.C. §12101, et seq.) which prohibits discrimination against the disabled; the Family and Medical Leave Act of 1993 (29 U.S.C. §2601, et seq.), which provides medical and family leave; the Genetic Information Nondiscrimination Act (GINA), which prohibits discrimination based on genetic information; USERRA, which prohibits discrimination based on U.S. military service; the Fair Labor Standards Act (42 

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U.S.C. §201, et seq.), including the Wage and Hour Laws relating to payment of wages; and all other federal, state and local laws and regulations relating to Employee’s employment with Company.  

This general waiver and release of liability also includes, but is not limited to, a release of the Released Parties by Employee of any claims for severance pay or severance benefits beyond those specifically set forth herein, breach of contract, mental pain, suffering and anguish, emotional upset, impairment of economic opportunities, unlawful interference with employment rights, defamation, intentional or negligent infliction of emotional distress, fraud, wrongful termination, wrongful discharge in violation of public policy, breach of any express or implied covenant of good faith and fair dealing, that Company has dealt with Employee unfairly or in bad faith, and all other common law contract and tort claims.  The Separation Payment is consideration to which Employee would not otherwise be entitled by virtue of employment or separation of employment with Company.

4.    In exchange for the Separation Payment, Employee further acknowledges and agrees as follows: 

a.    Before signing this Agreement and Release, Employee was given a period of 45 days in which to review and consider it; Employee has, in fact, carefully reviewed this Agreement and Release; and that Employee is entering into it voluntarily and of his or her own free will. Further, Employee acknowledges that Company hereby encourages Employee in writing to show and discuss this Agreement and Release with Employee’s attorney before signing it and that, to the extent Employee wished to do so, Employee has done so.  If Employee signs this Agreement and Release before the end of the 45-day period, Employee also acknowledges that such early signing was completely voluntary, and Employee had reasonable and ample time in which to review this Agreement and Release.

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b.    For a period of seven (7) days after Employee signs this Agreement and Release, Employee has the right to revoke acceptance by providing notice, in writing to Ms. Debra Stockton, General Counsel, Helmerich & Payne, Inc., 1437 S. Boulder Ave., Suite 1400, Tulsa, Oklahoma 74119-3623 (if delivered by certified mail, return receipt requested, hand-delivered or delivered by overnight delivery service). This Agreement and Release will not become fully effective and enforceable until after the expiration of such seven (7) day revocation period and the Separation Payment will not be made until after the expiration of the seven (7) day revocation period.   

c.    Employee’s acceptance of the Separation Payment at any time more than seven (7) days after Employee signs this Agreement and Release confirms that Employee did not revoke assent to this Agreement and Release and that it is fully effective and enforceable.

d.    Employee is not waiving any rights or claims that may arise after this Agreement and Release has been signed by Employee.

e.    As of the date of execution and affirmation of this Agreement and Release, Employee has received all compensation and benefits to which Employee is entitled from employment with Company.

f.    As of the date of execution and affirmation of this Agreement and Release, Employee has received all leave to which Employee is entitled under Company’s leave policies, and applicable state and federal laws. 

g.    As of the date of execution and affirmation of this Agreement, Employee has not filed any action, complaint, charge, grievance or requested arbitration against Company.

5.    Employee acknowledges and agrees that the decision to accept the Separation Payment is entirely voluntary and of Employee’s own choosing.  Employee also acknowledges and agrees that Employee’s employment with Company has been permanently and irrevocably severed. Employee further agrees that Company shall not have any obligation at any time in the future to re-employ Employee.  Employee further agrees that if Employee does seek re-employment or any other arrangement with Company under which Employee would receive compensation for services performed by Employee, a rejection by Company of Employee’s application or inquiry will not constitute a violation of this Agreement and Release or a violation of law in any manner whatsoever.

6.    Employee hereby represents, warrants and agrees that Employee has complied with, and at all times hereafter will comply with, Employee’s obligations under any agreements and documents that Employee executed for Company’s benefit at the commencement of or during the Employee’s employment (including, 

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without limitation, any confidentiality, non-disclosure or proprietary information agreements).  Such agreements shall continue to be in full force and effect in accordance with their terms.     

7.     As a condition of the Separation Payment, Employee agrees to participate fully with the Company or its counsel, at location(s) and time(s) reasonably requested by the Company or its counsel, concerning, among other things, the transitioning of job responsibilities, providing a list of contacts at customers and vendors with whom Employee has had a relationship during employment with the Company, providing additional information regarding ongoing tasks and projects as requested, the proper transfer of all relevant passwords or other login information, in the future and/or following the Effective Date of this Agreement. Employee further agrees to cooperate fully, truthfully and in good faith upon the reasonable request of Company, in assisting Company with (a) investigating, prosecuting or defending any claim that arises out of or relates in any manner to Employee’s employment with Company; (b) responding to or preparing for any government audit, investigation or inquiry that arises out of or relates in any manner to Employee’s employment with Company; and (c) assisting the preparation or audit of Company’s financial statements for any period of time when Employee was employed by Company.  Employee understands that such full, truthful and good faith cooperation includes being physically present and available to work with Company and its attorneys and auditors to investigate and prepare for claims and to testify truthfully.  Company will reimburse Employee for any reasonable out-of-pocket expenses that Employee may incur in connection with such cooperation.  

8.     With regard to Company property, Confidential Information of Company, and disparagement of Company, Employee understands, acknowledges, and agrees as follows:

a.    Employee agrees to return to Company, on or before the Separation Date, any property belonging to Company, including, without limitation, computer equipment, office keys, credit and telephone cards, cellular phones or pagers, ID and access cards, etc., and any and all original and duplicate copies of any work product and of files, financial or other confidential records, calendars, books, employee handbooks, records, notes, notebooks, manuals, computer disks, diskettes and any other magnetic and other media materials in Employee’s possession or under Employee’s control belonging to Company or containing confidential or proprietary information concerning Company and its partners, principals, officers, directors, employees, consultants, clients, representatives and agents (whether acting as agents or in individual capacities) or operations. Employee also agrees to take all actions requested to remove Employee’s name as a signatory to any accounts maintained or established by Company or its affiliates.  By signing this Agreement and Release, Employee confirms that Employee will not retain in his possession or under his control any of the documents or materials 

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described in this subparagraph, and that Employee will not be entitled to receive the Separation Payment unless and until all such documents and materials are returned to Company, in the same condition as when it was issued to Employee, less reasonable wear and tear. 

b.    “Confidential Information” shall have the meaning set forth in the Proprietary Information, Intellectual Property, Non-Competition and Non-Solicitation Agreement which Employee has previously signed, and shall include any information not previously disclosed to the public or to the trade by Company with respect to Company’s facilities, plans, systems and methods, trade secrets and other intellectual property, systems, procedures, manuals, reports and other Company-related information, computer hardware and software, and financial information (including the revenues and expenses associated with the mission or business of Company).  Employee understands and acknowledges that in the course of employment, Employee acquired Confidential Information, disclosure of which could cause Company substantial losses and damages which could not be readily calculated and for which no remedy at law would be adequate.  Accordingly, Employee covenants and agrees with Company that Employee will not, at any time, except with the prior written consent of the President, directly or indirectly disclose to any person any Confidential Information that Employee has learned by reason of Employee’s association with Company.  

c.    Employee understands and acknowledges that Company’s ability to protect Confidential Information for the exclusive knowledge and use of Company is of great competitive importance and commercial value to Company and that improper use or disclosure by Employee is likely to result in unfair or unlawful competitive activity.  Employee confirms that all Confidential Information is and shall remain the exclusive property of Company.  All business records, information, papers, electronic data and documents kept or made by Employee relating to the business of Company shall be and remain the property of Company.  Employee shall not retain copies of any written materials or electronic information not previously made available to the public, or other records, electronic information and documents made by Employee or coming into Employee’s possession concerning the business or affairs of Company without the written consent of the President.

d.    Employee agrees to refrain from communicating, directly or indirectly, now or at any time in the future, whether in writing, orally or electronically, (i) any false, disparaging or defamatory comment or communication concerning Company or the Released Parties; or (ii) any such communication that could reasonably be expected to be detrimental to the reputation or business or financial prospects of Company or any of the Released Parties. 

9.Employee agrees to the confidentiality and non-solicitation provisions of this Agreement and Release (i) in consideration for the compensation to be paid to 

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Employee under this Agreement and Release; (ii) to protect the trade secrets and Confidential Information of Company or its affiliates disclosed or entrusted to Employee by Company or its affiliates and the business goodwill of Company or its affiliates developed through the efforts of Employee and Company and/or the business opportunities disclosed or entrusted to Employee by Company or its affiliates; and (iii) as an additional incentive for Company to enter into this Agreement and Release.  

10.Employee agrees and covenants that for eighteen (18) months following the Separation Date, Employee will not directly solicit the sale of goods, services or a combination of goods and services from the established customers of the Company.

11.Employee further agrees and covenants that for eighteen (18) months following the Separation Date, Employee will not, directly or indirectly on behalf of any person (including Employee) or entity, actively or inactively, solicit, any employee or independent contractor of Company or its affiliates to become employees or independent contractors of another person or business.  

12.Pursuant to Section 7 of the Defend Trade Secrets Act of 2016 (which added 18 U.S.C. § 1833(b) to the United States Code), Employee acknowledges that notwithstanding any other provision of this Agreement and Release, Employee will not be held criminally or civilly liable under any federal or state trade secret law for any disclosure of a trade secret that (i) is made (A) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney and (B) solely for the purpose of reporting or investigating a suspected violation of law; or (ii) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.  Nothing in this Agreement and Release is intended to conflict with 18 U.S.C. § 1833(b) or create liability for disclosures of trade secrets that are expressly allowed by such Section. Further, nothing in this Agreement and Release or any other agreement between Employee and Company shall prohibit or restrict Employee from making any disclosure of information or documents to any governmental agency, legislative body, or self-regulatory organization.

13.Without limiting the remedies available to the Released Parties, Employee acknowledges that a breach of any of the covenants contained in this Agreement and Release may result in material irreparable injury to the Released Parties for which there is no adequate remedy at law, that it will not be possible to measure damages for such injuries precisely and that, in the event of such a breach or threat thereof, the Released Parties shall be entitled to seek a temporary restraining order or a preliminary or permanent injunction restraining Employee from engaging in activities prohibited by this Agreement and Release or such other relief as may be required to specifically enforce any of the covenants contained in this Agreement and Release.  A temporary or permanent injunction may be entered without the necessity of posting a bond.

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14.Employee agrees that the terms of this Agreement are confidential and that Employee will not disclose any of such terms to any other person other than Employee’s attorney, financial advisor, or spouse.  Employee agrees that Employee will instruct his attorney, financial advisor, and spouse not to disclose the terms of this Agreement, and that any disclosure by them shall be deemed a disclosure by Employee.

15.This Agreement and Release contains the entire agreement between Employee and Company, and supersedes and terminates any and all previous agreements and understandings between Employee and Company, except for any confidentiality, non-disclosure, or intellectual property agreements you signed with the Company with respect to your employment, as well as any award agreements that govern any equity awards you were granted. This Agreement and Release may not be changed orally, and no modification, amendment or waiver of any of the provisions contained in this Agreement and Release, nor any future representation, promise or condition in connection with the subject matter of this Agreement and Release, shall be binding upon any party hereto unless made in writing and signed by such party. Employee acknowledges that Company has made no promises, commitments or representations to Employee other than those in this Agreement and Release and that Employee has not relied upon any statement or representation made by Company with respect to the basis or effect of this Agreement and Release or otherwise.

16.The making of this Agreement and Release is not intended, and shall not be construed, as an admission that the Released Parties, or any of them, have violated any federal, state or local law, ordinance or regulation, breached any contract, or committed any wrong whatsoever against Employee.

17.The parties agree that this Agreement and Release may be used as evidence in a subsequent proceeding in which either of the parties allege a breach of this Agreement and Release.

18.In the event any provision or portion of a provision of this Agreement and Release shall be held to be void, voidable, unlawful or, for any reason, unenforceable, the remaining portions shall remain in full force and effect. The unenforceability or invalidity of a provision or portion of a provision of this Agreement and Release in one jurisdiction shall not invalidate or render that provision unenforceable in any other jurisdiction.

19.This Agreement and Release is binding upon, and shall inure to the benefit of, the parties and their respective heirs, executors, administrators, successors and assigns.

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20.Nothing in this Agreement including, but not limited to, the release of claims, proprietary or confidential information, confidentiality, cooperation, and non-disparagement provisions, shall be construed to prohibit Employee from (i) filing a charge with, or participating in an investigation or proceeding conducted by, the EEOC or any other  federal, state or local agency charged with the enforcement of any laws, or making reports of possible violations of federal law or regulation to any governmental agency or entity in accordance with the provisions of and rules promulgated under Section 21F of the Securities Exchange act of 1934 or Section 806 of the Sarbanes-Oxley Act of 2002, or any other whistleblower protection provisions of state or federal law or regulation; or (ii) requiring notification or prior approval by Company of any reporting described in clause (i). 

21.This Agreement and Release is governed by the laws of the State of Oklahoma, irrespective of the principles of conflicts of law.

22.Any dispute, controversy or claim arising out of or relating to this Agreement and Release, or breach thereof, shall be finally settled by arbitration before a single arbitrator in Tulsa, Oklahoma, in accordance with the prevailing Commercial Rules of the American Arbitration Association. The parties stipulate that the arbitrator shall apply Oklahoma law. Pending decision by the arbitrator, the parties to this Agreement shall diligently proceed pursuant to the terms and provisions hereof.  In the event of a breach of Paragraphs 8, 10 and 11 hereof, Company shall have, in addition to the rights and obligations set forth in this Paragraph 22, the right to seek injunctive relief from any court of competent jurisdiction. Judgment upon an arbitration award may be rendered in any court having jurisdiction thereof, or application may be made to any court for judicial acceptance of the award, or an order of enforcement, as the case may be. This agreement to arbitrate shall include any and all claims arising under this Agreement or any other claims relating to the employment relationship, whether arising under federal or state laws.

23.The parties acknowledge that they have mutually reviewed the terms of this Agreement and Release with their respective counsel and, accordingly, agree that the rule of contract interpretation, that contracts shall be construed against the drafter, shall not be applied in the event of a dispute requiring the interpretation and enforcement of this Agreement and Release.
                    
READ THIS AGREEMENT AND CAREFULLY CONSIDER ALL OF ITS PROVISIONS BEFORE SIGNING IT; IT HAS IMPORTANT LEGAL CONSEQUENCES AND INCLUDES A RELEASE AND WAIVER OF KNOWN AND UNKNOWN CLAIMS.

[SIGNATURE PAGE TO FOLLOW]

Proprietary and Confidential – Helmerich & Payne, Inc.    

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I acknowledge that I have read this Agreement and Release and that I understand and voluntarily accept its terms.

THIS IS A LEGALLY ENFORCEABLE DOCUMENT.

Employee:                          Company:

/s/ Robert Stauder                    /s/ Valerie Vaughan
Signature                        

Valerie Vaughan
Director, Human Resources
& Organizational Development
Date:  July 17, 2020        
                            

                            
                            

Proprietary and Confidential – Helmerich & Payne, Inc.    

Exhibit A
VESTED STOCK

[omitted]

Proprietary and Confidential – Helmerich & Payne, Inc.    

07/10/2020
Rob Stauder
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Exhibit B

Affected Employees of the Company

[omitted]

Proprietary and Confidential – Helmerich & Payne, Inc.

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