Document:

Agreement for Management Services

 Exhibit 10.3 
 AGREEMENT FOR MANAGEMENT SERVICES 
 THIS MANAGEMENT SERVICES AGREEMENT
(“Agreement”) dated as of December 15, 2009, between VIKING DRLILLING, LLC, a Nevada limited liability company (“Viking”), whose address is 4801 Gaillardia Parkway, Suite 225, Oklahoma City, Oklahoma 73142, and VIKING
INTERNATIONAL LIMITED, a Bermuda company (“VIL”), whose registered address is Canon’s Court, 22 Victoria Street, Hamilton HM 12 Bermuda. 
 RECITALS 
 WHEREAS, Viking is the owner of Rig 10 and Rig 11 (each a
“Rig” and collectively, the “Rigs”), each of which is more fully described on Exhibit “A” attached hereto and made a part hereof; 
 WHEREAS, Viking is importing the Rigs to Turkey; and 
 WHEREAS, VIL is licensed to
do business in Turkey and has certain resources and experience which enable it to provide services to Viking for its business activities in Turkey; 
 NOW, THEREFORE, in consideration of the mutual promises contained herein, and for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as
follows: 
 1. Services to be Provided. During the term of this Agreement, VIL agrees to provide to Viking from time to
time, the management, marketing, storage and personnel services (the “Services”) necessary to enable the Rigs to be used or leased for use in Turkey and as reasonably requested by Viking. 

2. Standard of Care. VIL’s standard of care with respect to the provision of Services pursuant to this Agreement shall be
limited to providing services of the same general quality as VIL provides for its own internal operations, and Viking’s sole and exclusive remedy for the failure by VIL to meet such standard of care in providing Services hereunder shall be to
terminate such services as provided in this Agreement. VIL makes no representations or warranties of any kind, whether express or implied (i) as to the quality or timeliness or fitness for a particular purpose of services it provides hereunder,
or (ii) with respect to any supplies or other material purchased on behalf of Viking pursuant to this Agreement, the merchantability or fitness for any purpose of any such supplies or other materials. UNDER NO CIRCUMSTANCES SHALL VIL HAVE ANY
LIABILITY HEREUNDER FOR DAMAGES IN EXCESS OF AMOUNTS PAID BY VIKING UNDER THIS AGREEMENT OR FOR CONSEQUENTIAL OR PUNITIVE DAMAGES, INCLUDING, WITHOUT LIMITATION, LOST PROFITS. 
 3. Payment. In consideration of the provision of Services under this Agreement, VIL shall be entitled to payment from Viking for all actual costs and expenses associated with the provision of
Services. VIL shall invoice Viking for Services provided on a monthly basis. 

  
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Viking shall pay all invoices within forty-five (45) days of receipt unless Viking has disputed an invoice in writing. In the event of a dispute, the parties shall work in good faith to
resolve such dispute. 
 4. Funds Received. If VIL receives any funds or revenues from any third party vendor or
otherwise which are attributable to the use of Rigs, VIL agrees to account for and turn over such funds or revenues to Viking immediately upon receipt. 
 5. Interest in Net Profits. As additional consideration for the provision of Services under this Agreement, VIL shall be entitled to a distribution equal to five percent (5%) of the Net
Profits of each Rig (“Net Profits Distribution”). “Net Profits” shall be defined to mean the gross revenue of each Rig less any and all expenses attributable to such Rig including, but not limited to, the payment for Services and
insurance under this Agreement and depreciation. Such Net Profits Distribution shall be calculated quarterly based on the to date net profit of each Rig and shall be payable within forty-five (45) days after the end of the quarter. 

6. Term. This Agreement shall be for an initial term of twelve (12) months and shall automatically renew for additional
twelve (12) month periods unless written notice of termination is received by either party at least sixty (60) days prior to the end of the term in effect. Additionally, either party may terminate this Agreement at any time, either before
or after the initial term and either with or without cause, upon sixty (60) days’ written notice to the other party. Upon termination, VIL shall be paid for Services rendered pursuant to this Agreement through the effective date of the
termination and shall be entitled to receive the Net Profits Distribution through the last month of the term. Thereafter, the parties shall have no further liability to each other as to unperformed services not yet due hereunder (except for those
obligations expressly surviving such termination). 
 7. Insurance. VIL shall secure and maintain insurance of the types
and in the amounts necessary to protect itself and the interests of Viking against hazards or risks of loss with regard to the Rigs. VIL shall invoice Viking for the actual cost of such insurance, and Viking shall pay such invoices within forty-five
(45) days of receipt of such invoice. 
 8. Representations and Warranties. Viking represents and warrants that the
Rigs are in new condition and have never been operated except for certain components which have been refurbished to like-new condition. The Rigs are in good operating condition and repair, and are suitable for immediate use for their intended
purpose. 
 9. Indemnification. VIL shall fully defend, indemnify and hold Viking, its members, partners, officers,
directors, employees and agents, harmless from and against any and all losses, claims, demands, damages, suits, expenses, causes of action, and any sanctions of every kind and character (including reasonable attorneys’ fees, court costs, and
costs of investigation) which may be made or asserted by VIL, VIL’s assigns, VIL’s employees, agents, contractors, and subcontractors and employees thereof, or by any third parties (including governmental agencies) for personal injury,
death, property damage, property confiscation, breach of contract, taxes, duties, tariffs, pollution, environmental damage, and regulatory 

  
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compliance, any fines or penalties asserted on account of such damage, and causes of action alleging liability caused by, arising out of or in any way incidental to the use or operation of the
Rigs by VIL from and after the date of this Agreement. This indemnity shall not apply to losses sustained or liabilities arising out of (a) Viking’s gross negligence or willful misconduct, or (b) defects in the design or construction
of the Rigs. 
 10. No Waiver or Amendment. No waiver of any of the terms, provisions or conditions hereof, or any
modification of such terms, provisions or conditions, shall be effective unless in writing and signed by a duly authorized officer of each party. 
 11. Assignment. This Agreement and the duties, rights and obligations of the parties hereunder shall not be assignable by either party without the prior written consent of the other party.

 12. Governing Law. This Agreement will be governed by and construed in accordance with the laws of the State of
Oklahoma without regard to its principles regarding conflicts of laws. Venue for any action tried hereunder will be in Oklahoma County, Oklahoma, whether in federal or state court. 

13. Independent Contractor. VIL shall perform the Services hereunder solely in the capacity of an independent contractor. VIL and
Viking agree that nothing herein shall in any manner constitute either party as the agent or representative of the other party for any purpose whatsoever. Without limiting the foregoing, neither party shall have the right or authority to enter into
any contract, warranty, guarantee or other undertaking or obligation in the name of or for the account of the other party, or to assume or create any obligation or liability of any kind, express or implied, on behalf of the other party, or to bind
the other party in any manner whatsoever, or to hold itself out as having any right, power or authority to do any of the foregoing, except, in each case, as to actions taken by a party at the express written request and direction of the other party.
Nothing in this Agreement, express or implied, shall create a partnership relationship between the parties (including any of their respective successors and assigns). 
 14. Assignment. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns; provided, however, that neither party hereto
shall assign its rights under this Agreement to any other person without the express written consent of the other party hereto. 

15. Entire Agreement. This Agreement represents the entire agreement between the parties, and supercedes and nullifies all prior
representations, negotiations, proposals and statements. 
 16. Notices. Any notice, request, demand, statement, routine
communications, or invoices will be in writing and delivered to the parties at the addresses or facsimile numbers identified below. Notice will be deemed given when physically delivered to the other party in person, when transmitted to the other
party by confirmed facsimile transmission, or when 

  
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deposited in the U.S. Mail or with a delivery service, postage pre-paid. Either party may change its address or facsimile number by providing notice of same in accordance with this provision.

  

			
	VIKING DRILLING, LLC	  	VIKING INTERNATIONAL LIMITED
		
	 4801 Gaillardia Parkway, Suite 225
 Oklahoma City, Oklahoma 73142
 Telephone: (405) 286-6324

Facsimile: (405) 286-1393
	  	 5910 N. Central Expressway, Suite 1755
 Dallas, Texas 75206
 Telephone: (214) 220-4323

Facsimile: (214) 265-4711

 17. Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 IN WITNESS WHEREOF, each of the undersigned has caused this Agreement to be executed in its corporate name by its corporate
officers, as of the day and year first above written. 
 VIKING DRILLING, LLC 

 

			
		
	By:	 	/s/ Mike W. Burnett

			
	Name:	 	Mike Burnett
	Title:	 	Manager

 VIKING INTERNATIONAL LIMITED 

 

			
		
	By:	 	/s/ Scott C. Larsen

			
	Name:	 	Scott C. Larsen
	Title:	 	President

  
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 EXHIBIT “A” 

(Description of Rigs) 

  
 5Amended and Restated Note

 Exhibit 10.12 
 AMENDED AND RESTATED 
 PROMISSORY NOTE 

 

			
	$11,821,223.72	  	February 1, 2010

 FOR
VALUE RECEIVED, the adequacy and receipt of which are hereby acknowledged, Viking International Limited, a Bermuda limited company with an address of Canon’s Court 22 Victoria Street, Hamilton HM 12, Bermuda (“VIL”), promises to pay
to the order of Viking Drilling, LLC, a Nevada limited liability company with its principal office at 4801 Gaillardia Parkway, Suite 350, Oklahoma City, Oklahoma 73142 (“Viking”), the principal sum of ELEVEN MILLION EIGHT HUNDRED
TWENTY-ONE THOUSAND TWO HUNDRED TWENTY-THREE DOLLARS AND 72/100 ($11,821,223.72). 
 1. Definitions. As used in this
Amended and Restated Promissory Note (this “Note”), the terms and phrases below have the following definitions: 
 1.1
“Effective Date” means February 1, 2010. 
 1.2 “Event of Default” means VIL’s failure to cure a
default under this Note or the Security Agreement within five (5) days after receipt of written notice from Viking specifying the default. However, no notice shall be due in the event VIL fails to pay the full principal and accrued interest on
or before the Maturity Date. 
 1.3 “Maturity Date” means August 1, 2012. 

1.4 “Security Agreement” means that certain Security Agreement, dated and effective as of the Effective Date, by and between
VIL and Viking, granting a security interest in the Collateral (as defined therein), and that certain Security Agreement, dated July 27, 2009, by and between VIL and Viking, granting a security interest in the Collateral (as defined therein).

 2. Interest. Commencing on the Effective Date, interest shall accrue on the unpaid principal balance of this Note at
the floating interest rate of one month Libor plus six and twenty-five hundredths percent (6.25%). Upon the occurrence of an Event of Default, interest shall accrue on the unpaid principal balance of this Note at an annual rate of fourteen percent
(14.0%). 
 3. Payments. VIL shall make twenty-nine (29) equal monthly installments of principal
and interest in the amount of $427,883.50 due on the 1st of each month beginning March 1st, 2010, and one final payment due on the Maturity Date in the amount of $427,883.50, adjusted to reflect any accrued and unpaid interest owed or any overpayment of interest over the term of the loan.
Unless this Note is earlier paid in full, the unpaid principal balance of this Note, together with all accrued and unpaid interest, shall be due and payable on the Maturity Date. 

4. Prepayment. At any time, and from time to time, prior to the Maturity Date, at its sole option and election, VIL may prepay
this Note, in full or in part, without a prepayment fee or penalty. 
 5. Event of Default. Upon the occurrence of an
Event of Default, Viking may take appropriate action under the Security Agreement to collect from VIL all amounts outstanding hereunder. 
 6. Release and Discharge. VIL shall be fully and forever released and discharged from all its obligations and liabilities under this Note upon the payment in full of this Note. 

7. Notices. Any notice, request, other communication or payment required or permitted to be given pursuant to this Note shall be
deemed to have been duly given if 
  

  
 AMENDED
AND RESTATED PROMISSORY NOTE - PAGE 1 OF 2 

 
(i) personally delivered, (ii) in the case of notices or other communications, sent by electronic mail to the recipient’s e-mail account (in the case of VIL, to
jeff.mecom@tapcor.com; in the case of Viking, to matt.mccann@riatamanagement.com), with a telephone call confirming receipt of such notice or communication, or (iii) mailed by registered or certified mail, postage prepaid, and
addressed (a) if to VIL, to 5910 N. Central Expressway, Suite 1755, Dallas, Texas 75206, and (b) if to Viking, to 4801 Gaillardia Parkway, Suite 350, Oklahoma City, Oklahoma 73142. VIL or Viking may change its respective address or e-mail
account for purposes of receipt of notices pursuant to this Note, at any time, by giving written notice of such change in accordance with this Paragraph 7. 
 8. Governing Law; Venue and Jurisdiction. This Note shall be governed by and construed, interpreted and enforced in accordance with the laws of the State of Oklahoma without regard to principles of
conflicts of law. VIL and Viking each hereby consents and submits to the exclusive jurisdiction and venue of any state or federal court located in Oklahoma City, Oklahoma in connection with any dispute arising from or relating to this Note.

 9. Amendment. This Note may be amended or modified only upon a writing signed by VIL and Viking. 

10. Waivers. No failure or delay in exercising any right or privilege under this Note shall operate as a waiver thereof, nor shall
any single or partial exercise of any such right or privilege preclude any other or further exercise thereof. No waiver of any right, privilege or default under this Note shall constitute a waiver of any other right, privilege or default under this
Note. 
 11. Assignment of Note; Successors and Assigns. Viking may sell, assign or otherwise transfer this Note or any
of its rights hereunder. VIL shall not sell, assign or otherwise transfer this Note or any of its rights hereunder without the prior written consent of Viking, which consent may be withheld in Viking’s sole discretion. This Note shall be
binding upon, and shall inure to the benefit of VIL, Viking and their respective successors and permitted assigns. 
 12.
Headings. The headings used in this Note are used solely for purposes of reference and convenience and shall not be used to construe or interpret the meaning of any provision of this Note. 

13. Severability. The provisions of this Note shall be severable. If one or more of such provisions, or the application thereof,
is determined to be unlawful, unenforceable, void or of no effect, that determination shall not affect any other application of such provision or any other provision of this Note. 
 IN WITNESS WHEREOF, VIL has caused this Note to be issued as of the Effective Date. 
  

			
	 VIKING INTERNATIONAL LIMITED,
 a Bermuda limited company

		
	By:	 	 /s/ Jeffrey S. Mecom

	Name:	 	Jeffrey S. Mecom
	Title:	 	Vice President

  
 AMENDED
AND RESTATED PROMISSORY NOTE - PAGE 2 OF 2

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