Document:

EX-10.2

 EXHIBIT 10.2 
 AGREEMENT, RELEASE AND WAIVER 
 This Agreement, Release and Waiver
(“Agreement”) is entered into by and between 
 PHI, Inc. (“PHI”) 

And 
 Michael J.
McCann, Employee No. 1739 (“EMPLOYEE”) 
 PHI and the EMPLOYEE mutually agree to a severance of the EMPLOYEE’s employment
with PHI pursuant to and subject to the terms of this Agreement. You are advised to consult an attorney before signing this Agreement. 
  

	1.	PHI will pay the EMPLOYEE a lump sum retirement benefit equal to two (2) weeks of base pay per year of service (to nearest one-tenth of a year). Base pay is
defined as annual salary divided by 52 weeks. 

  

	2.	EMPLOYEE will be paid for all accrued vacation at time of termination, and as soon as practical, all monies due under the PHI Senior Management Deferred Compensation
Plan. 

  

	3.	EMPLOYEE will be issued his Time-vested Restricted Shares Award as awarded by PHI’s Board of Directors in November 2010 within thirty (30) days of
January 1, 2013. 

  

	4.	EMPLOYEE will be paid on or about March 15, 2013 a pro-rated bonus under the 2012 Senior Management Bonus Plan, if the Plan meets its EBIT and safety targets, in
compliance with Section 5(c) of the Plan, even though EMPLOYEE will not be employed by PHI at that time. 

  

	5.	The EMPLOYEE who is participating in PHI’s group medical, dental and/or vision plans may continue coverage under those plans as a Retiree, subject to the terms of
the plans. 

  

	 	(a)	PHI will pay 50% of the premium for the Retiree medical plan coverage elected by the EMPLOYEE for the first eighteen (18) months (or shorter period) that Retiree
coverage is available. For any period of Retiree medical coverage that exceeds eighteen (18) months, PHI will pay 50% of the applicable premium for “Employee Only” coverage or “Employee plus one” coverage elected by the
EMPLOYEE. 

  

	 	(b)	With respect to Retiree coverage under the dental and vision plans, the EMPLOYEE is required to pay the full premium to maintain coverage. 

 

	 	(c)	Retiree coverage ends for the EMPLOYEE under the medical, dental and vision plans on the date the EMPLOYEE is eligible to enroll in Medicare or the date the Employee
becomes eligible for medical, dental and/or vision coverage under another employer’s group welfare plan of the same type. 

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	 	(d)	If Retiree coverage under the medical plan ends because the EMPLOYEE becomes Medicare eligible, the spouse (to whom the EMPLOYEE is married at the time he terminates
employment) can continue Retiree coverage under the medical plan until the earlier of (i) five years from the date of the EMPLOYEE’s Medicare eligibility, (ii) the date the spouse is eligible to enroll in Medicare or (iii) the
date the spouse is eligible for medical coverage under another employer’s group health plan. 

  

	 	(e)	If Retiree coverage under the dental or vision plan ends because the EMPLOYEE becomes Medicare eligible, the spouse shall have only such remaining coverage as is
available under COBRA, if any. 

  

	 	(f)	A Retiree’s right to medical, dental or vision benefits is subject to the terms of the applicable welfare plan document. These plans are governed by and subject to
ERISA (the Employee Retirement Income Security Act of 1974, as amended). Nothing in this Agreement shall be construed to modify or enlarge the rights and benefits available under the plan documents, including, but not limited to, PHI’s right to
amend or terminate the welfare plans. 

  

	 	(g)	Retiree coverage runs concurrently with COBRA. To the extent the required COBRA period has not ended, the Retiree or spouse can elect COBRA continuation coverage for
the remainder of the time her or she is eligible for COBRA by paying the full COBRA premium. 

  

	 	(h)	Coverage for the EMPLOYEE’s dependents is limited to the COBRA period. 

 NOW, THEREFORE, in consideration for the mutual promises and agreements herein contained and other good and valuable consideration, receipt and sufficiency of which is hereby acknowledged, the parties
agree as follows: 
  

	1.	Date of Severance. EMPLOYEE and PHI mutually agree that EMPLOYEE’s employment with PHI will end no later than November 5, 2012, and that
EMPLOYEE must remain in PHI’s employ through that date to be eligible for any benefits under this Agreement. However, should PHI decide to terminate EMPLOYEE before November 5, 2012, or should EMPLOYEE die or become physically or mentally
unable to perform the duties of his job with PHI before November 5, 2012, benefits under this Agreement shall become available to EMPLOYEE as of the date of such earlier event. Payment of severance benefits under this Agreement will be made
within seven (7) calendar days of the later of: 1) the date of the Employee’s actual termination; or 2) the date of the execution of this Agreement. 

  
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	2.	Agreement to Provide Consulting Services. EMPLOYEE agrees to provide consulting services to PHI under the terms and conditions of attached Consulting
Agreement. 

  

	3.	Requirement to Notify PHI of Alternative Health Coverage. EMPLOYEE agrees and further declares that he will promptly notify PHI if he, his spouse or other
dependent becomes eligible to enroll in medical coverage under another employer’s group medical plan or becomes eligible to enroll in Medicare. 

  

	4.	Exclusive Right to Payment from PHI. EMPLOYEE further declares that he has no right to any salary, severance benefit or other payment or benefit (other
than his benefit under the PHI 401(k) Plan, and as provided under COBRA except as are expressly set out in this Agreement. 

  

	5.	Release of Claims. EMPLOYEE does hereby unconditionally release, acquit and forever discharge PHI, its subsidiaries or affiliates, as well as any
successors or assigns, together with all officers, directors, shareholders, managers, employees and agents thereof, from any and all claims, demands, rights, liabilities, damages, injuries, costs, attorney’s fees, or causes of action
whatsoever, known or unknown, rising out of EMPLOYEE’S employment relationship with PHI and/or the termination of that employment relationship, including without limitation claims and demands relating to wages, benefits, or any other terms and
conditions of employment, any claims for breach of contract (either actual or implied), wrongful discharge, intentional or negligent infliction of emotional harm, or any tort claims, as well as any claims under Federal, State or local law
prohibiting employment discrimination, including specifically; (i) the Age Discrimination in Employment Act of 1967; (ii) the Older Worker Benefit Protection Act of 1990; (iii) Title VII of the Civil Rights Act of 1964; (iv) the
Americans with Disabilities Act of 1990; (v) the Employment Retirement Income Security Act of 1974, as amended; and (vi) any counterpart statutes under the laws of Louisiana or the other states and localities in which PHI conducts business
(including, but not limited to the EMPLOYEE’S right to make a claim on his own behalf or by any third party on his behalf). Notwithstanding the foregoing, the EMPLOYEE does not waive rights or claims that may arise after the date this waiver is
executed, but he does agree to waive any and all rights to reinstatement or employment with PHI. 

  

	6.	 Effect of Agreement on Certain Claims. This Agreement does not release workers’ compensation or unemployment compensation claims or
waive any rights or claims that may arise after the date this Agreement is executed. This Agreement also does not prohibit the EMPLOYEE from filing a charge with a government agency, but this Agreement does release any claim which the EMPLOYEE has
or may have for monetary relief, reinstatement, or for any other remedy for the EMPLOYEE personally, arising out of any proceeding before any government agency or court. If any agency or court should take jurisdiction over any matter in which the
EMPLOYEE has or may have any personal interest, 

  
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whether initiated by the EMPLOYEE or otherwise, the EMPLOYEE will promptly inform that agency or court that this Agreement constitutes a full and final settlement by the EMPLOYEE of all claims
released under this Agreement (which released claims do not include workers’ compensation and unemployment compensation claims and any claim that may arise after the date this Agreement is executed). The EMPLOYEE will not participate
voluntarily or assist in the filing or prosecution of any lawsuit brought against PHI based upon EMPLOYEE’s employment, retirement or termination from employment. 
 The EMPLOYEE understands that this promise does not restrict his right to seek a ruling determining whether this Agreement is legally valid. The EMPLOYEE understands that any such action must be brought
at the EMPLOYEE’s own expense and that if he should not prevail, he will be liable for the attorney’s fees and other legal costs incurred by PHI, provided such recovery is authorized by federal or other law because the EMPLOYEE’s
challenge was legally unwarranted or frivolous. If the EMPLOYEE prevails and obtains a judgment against PHI, the EMPLOYEE agrees that the judgment amount shall be offset by the value of the consideration provided under this Agreement and by any
party released pursuant to this Agreement. EMPLOYEE further agrees that, if the judgment amount is less than the value of the consideration PHI provided, he may have no recovery from PHI. 

 

	7.	Covenant Not to Disclose Confidential Information. During the remainder of EMPLOYEE’s employment with the PHI and thereafter, EMPLOYEE will not,
except as required in the performance of his job duties for PHI or as authorized in writing by an authorized agent of PHI, use, publish or disclose any Confidential Information, as defined below, proprietary information or trade secrets, whether
original, duplicated, computerized, memorized, handwritten, or in any other form, that EMPLOYEE may in any way acquire knowledge of as a result of his employment with PHI. 

“Confidential Information,” for purposes of this Agreement, shall mean all confidential and/or proprietary information and
materials, in whatever form, whether tangible or intangible, of PHI or its subsidiaries obtained from any person or entity to which the PHI or its subsidiaries owes a duty of confidentiality, whether or not labeled or identified as proprietary or
confidential, including all copies, portions, extracts and derivatives thereof, except to the extent that EMPLOYEE can prove that such information or materials (i) are or become generally known to the public through lawful means and through no
act or omission of EMPLOYEE, (ii) were part of EMPLOYEE’s general knowledge prior to employment by PHI or (iii) are disclosed to EMPLOYEE without restriction by a third party who rightfully possesses the information and is under no
duty of confidentiality with respect thereto. 
 “Confidential Information” specifically includes, but is not limited
to, such information related to PHI’s or its subsidiaries’ pricing and marketing strategies 

  
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and characteristics, financial statements and related information, profit margins, methods of operation and sales, production processes, computer software, current and future development and
expansion or contraction plans, information concerning personnel assignments, supplier and vendor information, and customer information such as names, contact persons, needs and requirements, contract renewal dates for existing or prospective
customers, training manuals and related materials and any other information relating to PHI’s or its subsidiaries’ business that is treated by PHI as confidential. 
 “Confidential Information” also includes all intellectual property of PHI or its subsidiaries, whether or not patentable or registered under copyright or similar statutes including, but not
limited to, all inventions, improvements, discoveries, software developed by or for the benefit of PHI and related source code and programming information, design technology and know-how, trade secrets, formulas, manufacturing and/or design
techniques, plans for research and development of new products, works of authorship, other copyrighted materials created by or for the benefit of PHI, and any other information or material considered proprietary by PHI, designated Confidential
Information by PHI, or not generally known by the public. 
  

	8.	Non-Solicitation Covenant. During EMPLOYEE’s employment with PHI and for two (2) years following the termination of employment, EMPLOYEE agrees
not to, directly or indirectly, solicit or attempt to solicit any business from any of PHI’s or its subsidiaries’ customers, including actively sought prospective customers, with whom EMPLOYEE has or had material contact during employment
with PHI for purposes of providing products or services that are competitive with those provided by PHI within the Geographic Territory set forth below. For purposes of this Agreement, the term “material contact” exists between EMPLOYEE
and each customer: (i) that EMPLOYEE regularly dealt with during the last twelve (12) months of EMPLOYEE’s employment with PHI, (ii) whose dealings with PHI EMPLOYEE coordinated or supervised during the last twelve
(12) months of EMPLOYEE’s employment with PHI, or (iii) about whom EMPLOYEE has obtained Confidential Information, proprietary information and/or trade secret information as a result of EMPLOYEE’s association with PHI.

  

	9.	Non-Recruiting Covenant. EMPLOYEE recognizes and understands that PHI and its subsidiaries have invested substantial time and effort in assembling its
current personnel and that certain information related its personnel constitutes Confidential Information as set forth above. Accordingly, during EMPLOYEE’s employment and for two (2) years following the termination of EMPLOYEE’s
employment with the Company, EMPLOYEE agrees that EMPLOYEE will not directly or indirectly recruit or otherwise induce any employee of PHI or its subsidiaries either working at the location where EMPLOYEE is and/or was employed by PHI or about whom
EMPLOYEE has obtained Confidential Information as a result of EMPLOYEE’s employment with PHI to terminate employment with PHI or to compete against PHI. 

  
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	10.	Covenant Not to Compete. EMPLOYEE agrees that during his employment with PHI and for a period of one (1) year after the termination of such
employment, EMPLOYEE will not provide services to or become associated with any person, entity or company (either as a member, partner, agent, employee, officer, contractor or consultant) engaged in a trade, business or enterprise that is
competitive with the Company’s business (providing helicopter services to businesses engaged in and/or supporting the offshore production of oil and gas and providing air medical transport throughout the United States) within the Geographic
Territory set forth below. The prohibitions contained in this provision expressly include, but are not limited to, employment with Bristow Group, Inc., Era Helicopters, LLC, Tex-Air Helicopters, Inc., Air Methods Corp, or any other Air Medical
competitor (and/or their related entities) in the Geographic Territory described below. 

  

	11.	Geographic Territory. For purposes of the Non-Solicitation Covenant and Covenant Not to Compete, EMPLOYEE agrees to refrain from performing any of the
restricted actions within the following geographic areas: 

  

	 	1.	Louisiana: The Parishes of Lafayette, Cameron, Calcasieu, Vermillion, St. Mary, Jefferson, Houma, Terrebonne and Plaquemines. 

 

	 	2.	Texas: The Counties of Angelina, Bell, Brazos, Collin, Fort Bend, Galveston, Harris, Jefferson, Matagorda, Montgomery, Navarro, San Patricio, Tarrant,
Victoria, and Williamson. 

  

	 	3.	Mississippi: The Counties of Hinds and Lauderdale. 

  

	 	4.	Alabama: The County of Mobile. 

  

	 	5.	Gulf of Mexico 

  

	 	6.	The States of Arizona, Texas, Mississippi and Louisiana in regards to its Air Medical operations. 

 

	12.	Acknowledgement of Reasonableness of Covenants. EMPLOYEE agrees and acknowledges that the limitations as to time, Geographical Territory and scope of
activity to be restrained are reasonable and are not greater than necessary to protect the goodwill or other business interests PHI. EMPLOYEE further agrees and acknowledges that such investments are worthy of protection, and that PHI’s need
for the protection afforded is greater than any hardship EMPLOYEE might experience by complying with its terms. 

  
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	13.	Breach of Agreement. In the event that the EMPLOYEE breaches any of the obligations contained in this Agreement, PHI is entitled to cease all payments or
benefits not yet paid and obtain all other rights, remedies or relief permitted by law or equity. 

  

	14.	Agreement Binding on Employee and Spouse. EMPLOYEE expressly represents and warrants that he has entered into this Agreement individually, and for and on
behalf of the benefit of his marital community and that this Agreement is binding on his heirs and assigns. 

  

	15.	Acceptance of Agreement. If EMPLOYEE decides to accept this Agreement, he must sign it and return it by mail, postmarked no later than {DATE} to PHI, Inc,
Human Resources Department, Attention: Richard Rovinelli, 2001 SE Evangeline Throughway, Lafayette, LA 70508. He may return the signed Agreement in person by {DATE} to Richard Rovinelli at PHI’s Administrative Offices at the above address. If
the EMPLOYEE does not sign and return the Agreement as described above, this offer shall be null and void. 

  

	16.	Remedies and Injunctive Relief. EMPLOYEE agrees that nothing in this Agreement is intended to limit any remedy of PHI under any law concerning
Confidential Information, proprietary rights, inventions, trade secrets, or other confidential information. EMPLOYEE further agrees that breach of the restrictive covenants in this Agreement will irreparably harm PHI for which PHI may not have an
adequate remedy at law. As such, EMPLOYEE agrees that PHI shall be entitled to any proper injunction, including but not limited to temporary, preliminary, final injunctions, temporary restraining orders, and temporary protective orders, to enforce
said covenants in the event of breach or threatened breach by EMPLOYEE, in addition to any other remedies available to PHI at law or in equity. The restrictive covenants contained in this Agreement are independent of any other obligations between
the parties, and the existence of any other claim or cause of action against PHI is not a defense to enforcement of these covenants by injunction. 

  

	17.	Entire Agreement. This Agreement sets forth the entire agreement between the parties hereto, and fully supercedes any and all prior discussions,
agreements or understandings between the parties. EMPLOYEE acknowledges that this release constitutes a waiver of all claims against PHI, including any claim of age discrimination. 

 

	18.	Acknowledgement of Effect of Executing Agreement. This Agreement was first tendered to EMPLOYEE on November 2, 2012. EMPLOYEE has forty-five
(45) days in which to consider this Agreement and the accompanying information. Failure of EMPLOYEE to execute this Agreement within the forty-five (45) day period specified above shall result in automatic revocation of the offer.
EMPLOYEE additionally acknowledges that he has been advised by PHI to consult with an attorney prior to executing this Agreement. 

  
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	19.	Right of Revocation. EMPLOYEE understands that by law, he may revoke this Agreement at any time within seven calendar days of signing it. To be effective,
EMPLOYEE’S revocation must be in writing and delivered to PHI, Inc., 2001 SE Evangeline Throughway, Lafayette, LA 70508, to the attention of Richard Rovinelli, either by hand or by mail within that seven (7) day period. If sent by mail,
the revocation must be: (i) postmarked within the seven (7) day period; (ii) properly addressed as set forth above; and (iii) sent by certified mail, return receipt requested. 

 

	20.	Severability. If any of the provisions of this Agreement is found to be invalid or unenforceable, it shall not affect the validity of the other provisions
of this Agreement which shall remain enforceable. 

  

	21.	Applicable Law. This Agreement shall be governed by the laws of the State of Louisiana. 

 

	22.	Accompanying Information. EMPLOYEE acknowledges receipt of the information contained in Appendix A listing (i) the job classifications of individuals
affected by the termination program; (ii) job classifications and ages of these individuals being terminated due to this program; and (iii) the ages of all individuals in the same job classifications who have not been selected
for termination due to this program. 

 The undersigned EMPLOYEE state that he has carefully read the foregoing and understands
the contents thereof, and has entered into this Agreement voluntarily. 
 IN WITNESS WHEREOF, the parties have executed this AGREEMENT, RELEASE,
AND WAIVER. 
 PHI, INC. 
  

					
	 /s/ Richard A. Rovinelli
	 		 	 November 2, 2012

	Richard A. Rovinelli	 		 	DATE
	Chief Administrative Officer/Director of Human Resources	 		 	

 EMPLOYEE: 
  

					
	 /s/ Michael J. McCann
	 		 	 November 2, 2012

	Michael J. McCann, PHI EMPLOYEE No. 1739	 		 	DATE

  
 8EX-10.3

 EXHIBIT 10.3 
 CONSULTANT AGREEMENT 
 THIS CONSULTANT AGREEMENT (the “Agreement”)
is made and entered into by and between PHI, Inc., a Louisiana corporation, with offices at 2001 S.E. Evangeline Thruway, Lafayette, Louisiana 70508 (the “Company”) and Michael J. McCann, an individual having an address at 105 Berwick
Circle, Lafayette, LA 70508, (the “Consultant”), to be effective the weekday date immediately following his retirement from PHI in 2012 (the “Effective Date”). 

In consideration of the mutual covenants, promises and representations contained herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Company and Consultant agree as follows: 
  

	1.	Extent of Consulting Services and Duties of Consultant. 

 1.1. During the Term (as defined in Article 9), Consultant agrees to serve as a consultant of the Company in accordance with the provisions of this Article 1. During the Term, Consultant shall strive
to make himself available to the Company as requested by the Company’s President and Chief Operating Officer, currently Lance Bospflug (the “Authorized Officer”), or his delegate. When so requested, and Consultant is available,
Consultant will consult with officers and employees of the Company and others as may be designated by the Authorized Officer, pertaining to special projects or performing services in business related financial or risk management matters and/or
federal or state regulations or litigation involving the Company within Consultant’s knowledge and experience (the “Consulting Services”). The purpose of Consultant’s duties during the Term is to provide expertise and/or advice
with regard to the Company’s business, financial, regulatory or legal matters. Consultant will not have a role in the management decisions of the Company, nor shall Consultant be involved in the Company’s strategic plans or in representing
that strategy to others. The particular amount of time Consultant may spend in fulfilling his Consulting Services obligations may vary from day to day or week to week, but Consultant shall use his reasonable efforts to be prepared and available at
such times as are reasonably requested by the Company, which shall normally be conducted in Lafayette Parish, and will not normally exceed two (2) days per month except when the parties mutually agree to additional days in which Consultant
provides services under this Agreement. Consultant shall perform his services hereunder in accordance with his best professional judgment; provided as long as such services are provided in good faith and in accordance with Consultant’s
professional judgment, the services are provided hereunder “as is” with no other warranty whatsoever provided by Consultant. 
 1.2. During the Term, Consultant agrees that he shall not knowingly become involved in a conflict of interest with the Company or its subsidiaries or affiliates, or upon discovery thereof, allow such a
conflict to continue. Moreover, Consultant agrees that he shall disclose to or discuss with the Authorized Officer any facts or circumstances which might involve such a conflict of interest. The Company and Consultant recognize that it is impossible
to provide an exhaustive list of actions or interests which constitute a “conflict of interest.” Moreover, the Company and Consultant recognize that there are many borderline situations. In some instances, full disclosure of facts by the
Consultant to the Authorized Officer may be all that is necessary to enable the Company to protect its interests. In others, if no improper motivation appears to exist and the interests of the Company have not suffered, prompt elimination of the
outside interest will suffice. 

	2.	Consulting Fee. 

2.1. The Company shall pay to Consultant a consulting fee of one-hundred and fifty dollars ($150.00) per hour (the “Consulting
Fee”) for each hour Consultant is approved to provide services to the Company, for the Term of this Agreement. For any day in which Consultant is approved to provide services, a normal workday shall be eight (8) hours, and will include
approved travel time when such travel exceeds ten (10) miles for any given day Consultant is requested to provide and does in fact does provide services to the Company; however, all such approved travel time for a given day shall be limited to
eight (8) chargeable hours. For any day Consultant is approved to provide services other than by telephone for the Company, he shall be paid a minimum of four (4) hours and a maximum of eight (8) hours for that day, unless approved
for additional hours by the Authorized Officer. Services provided by Consultant via telephone shall be billed as actual time (to nearest one-quarter of an hour) required for the telephone call. The Company shall provide or reimburse Consultant for
pre-approved travel expenses (when required and approved for Consultant to work outside Lafayette Parish) for: (a) actual costs of air and ground transportation, including either fuel and rental fees for rental vehicles, or mileage at IRS
approved reimbursement rates for use of personal vehicle; and (b) reasonable lodging accommodations and meals incurred by Consultant in accordance with Company’s existing policies for reimbursement of such expenses. Consultant will be
reimbursed for Business Class travel for travel to a foreign country, so long as the total flight time each way exceeds four (4) hours. 
 2.2. Consultant shall maintain appropriate time and expense records pertaining to the services performed under this Agreement. Consultant shall submit all time worked and approved expenses no less than
once for each calendar month, but may submit such records bi-weekly. Such records shall be subject to examination and audit by the Company until the expiration of one (1) year after final payment hereunder. 

2.3. Consultant shall not be entitled to participate in, and receive benefits under, any and all pension, insurance, hospitalization,
medical or disability programs or policies of the Company, except as provided for under the Separation Agreement, Release and Waiver executed by the parties on or about {DATE}. 

2.4. Consultant shall pay all social security, federal income taxes, unemployment insurance, pensions, annuities or other liabilities or
taxes incurred by or on behalf or for the benefit of Consultant arising out of the performance by Consultant of its obligations under this Agreement. 
 2.5 It is agreed by both parties, Consultant and Company, that Consultant agrees to and will be covered by applicable workers’ compensation law and that the Company will extend benefits under same to
Consultant for any injury sustained while Consultant performs services for PHI within the course and scope of this agreement. 
 3.
Independent Contractor Relationship. Throughout the Term of this Agreement, Consultant shall be an independent contractor with the full power and authority to select the means, methods and manner of performing Consulting Services
hereunder; provided, however, that Consultant shall secure the approval of the Company as to the means, methods, and manner in which the Company and its affiliates are represented. Consultant will in no way be considered to be an agent, employee, or
servant of the Company. Consultant shall have no authority to bind the 

  
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Company in any capacity for any purpose. It is not the purpose or intention of this Agreement or the parties to create, and the same shall not be construed as creating, any partnership,
partnership relation, joint venture, agency, or employment relationship. 
  

	4.	Protection of Confidential Information. 

 4.1. Consultant acknowledges that the Company’s business is highly competitive and that the Company’s methods, strategies, books, records and documents, the Company’s technical information
concerning its products, prospects, equipment, services and processes, procurement procedures and pricing techniques, and the names of and other information (such as credit and financial data) concerning the Company’s customers and business
affiliates, all comprise confidential business information and trade secrets of the Company which are valuable, special, and unique assets of the Company which the Company uses in its business to obtain a competitive advantage over the
Company’s competitors which do not know or use this information. Consultant further acknowledges that protection of the Company’s confidential business information and trade secrets against unauthorized disclosure and use is of critical
importance to the Company in maintaining its competitive position. Accordingly, Consultant hereby agrees that notwithstanding any other provision of this Agreement, he will not at any time make any unauthorized disclosure of any confidential
business information or trade secrets of the Company (“Confidential Information”), or make any unauthorized use thereof, except for Confidential Information that is in the public domain through no fault of Consultant or as is required by
law, including deposition or trial testimony by Consultant pursuant to subpoena, provided that if Consultant is requested or required (by oral question, interrogatories, request for information or documents, subpoena, civil investigative demand or
similar process) to disclose any Confidential Information, Consultant will promptly notify the Company of such request or requirement so that the Company may seek an appropriate protective order or waive compliance with provisions of this Agreement.
In the absence of a protective order or the receipt of a waiver hereunder, Consultant may disclose only such Confidential Information to the party compelling disclosure as is required by law. Consultant further agrees that he will cooperate with the
Company in its efforts to obtain a protective order or other reliable assurance that confidential treatment will be accorded the Confidential Information. 
  

	5.	Ownership of Intellectual Property. 

 5.1 The Company owns and will own all copyrights, patents, trade secrets, trademarks, marketing strategies, marketing programs, and other intellectual property rights, title and interest in, and
pertaining to, all graphics, photographs, art work, text, drawings, brochures, videotapes, materials and other creations authored, created, written or otherwise generated, invented and/or created by Consultant (“Intellectual Property”) in
connection with Consulting Services performed under this Agreement. 
 5.2 All Intellectual Property generated, invented or
created under this Agreement shall be considered a work made for hire and owned by the Company. Consultant agrees to assign all worldwide right, title and interest to the Company in and to any and all copyrights, patents, trademarks and other
intellectual property rights in any Intellectual Property developed under this Agreement or connection with Consultant’s services and work for the Company. The Consultant hereby grants to the Company, its successors and assigns, the right to
file copyright and patent applications in the United States and throughout the world for the Intellectual Property in the name 

  
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of the Company, its successors and assigns. Consultant hereby agrees that the Company, its successors and assigns may act as Consultant’s attorney-in-fact to execute any document that the
Company, its successors and assigns, deem necessary to record this grant with the United States Copyright office or elsewhere. If requested, Consultant hereby agrees to execute any and all copyright, patent, or trade secret assignments,
certificates, applications or documents requested by the Company, its successors and assigns. 
 5.3 Consultant agrees to
promptly return, on the termination of this Agreement, or upon earlier request by the Company, all Intellectual Property, including without limitation notes, drafts, models and computer data in his control and/or possession whether supplied by the
Company or authored, created or generated by Consultant in the performance of this Agreement. 
 6. Publishing Statements.
Consultant shall refrain, both during the consulting relationship and after the consulting relationship terminates, from publishing any oral or written statements about the Company, any of its subsidiaries or affiliates, or any of such
entities’ officers, employees, agents or representatives that are slanderous, libelous, or defamatory; or that disclose private or confidential information about the Company, or any of its subsidiaries or affiliates, or any of such
entities’ business affairs, officers, employees, agents, or representatives; or that constitute an intrusion into the seclusion or private lives of such entities or any of their subsidiaries or affiliates, or any of such parties’ families,
officers, employees, agents, or representatives; or that give rise to unreasonable publicity about the private lives of such entities’ officers, employees, agents, or representatives; or that place the Company, or any of its subsidiaries or
affiliates, or any of such entities’ officers, employees, agents, or representatives in a false light before the public; or that constitute a misappropriation of the name or likeness of the Company, or any of its subsidiaries or affiliates, or
any of such entities’ officers, employees, agents, or representatives. 
 7. Opportunities Entrusted to Consultant.
Consultant shall not, either during the existence of the consulting relationship or thereafter, use or appropriate, directly or indirectly, for Consultant’s own benefit or for the benefit of another, any of the business opportunities concerning
the subject matter of the consulting relationship that were entrusted to Consultant by the Company. 
 8. Indemnity. 

8.1 The Company agrees to defend, indemnify and hold Consultant harmless from all claims, demands or causes of action (“Claim”)
for bodily injury, death or property damage by whomsoever made to the extent, but only to extent caused by the acts or omissions of Company or Company’s breach of its obligations under this Agreement. 

8.2 Consultant agrees to defend, indemnify, and hold the Company harmless from and against any Claim for bodily injury, death or property
damage, by whomsoever made to the extent, but only to the extent caused by the acts or omissions of Consultant as Consultant’s breach of his obligations under this Agreement. 

8.3 Upon written request by a party entitled to indemnification pursuant to this Article 8 (the “Indemnitee”), the other party
(the “Indemnitor”) shall pay the reasonable expenses incurred in defending any Claim in advance of its final disposition. Each party shall promptly notify the other party of the existence of any claim, or the threat of any claim, to which
the Indemnification Obligations might apply. The Indemnitor shall select, manage, and pay the legal defense costs as a 

  
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part of the indemnity obligation including any judgment amounts awarded. Each Indemnitee shall have the right, at its option and sole expense, to participate in the defense or claim without
relieving the Indemnitor of any obligation hereunder. The Indemnitee shall cooperate and comply with all reasonable requests that the Indemnitor may make in connection with the defense and any settlement of a claim. 

8.4 The Indemnification Obligations shall continue after the termination of this Agreement, solely as to Claims arising during the Term
of this Agreement, and all rights associated with the Indemnification Obligations shall inure to the benefit of the successors or assigns of the Company and Consultant. 
 8.5 Neither party shall be liable to the other party for any consequential, incidental, indirect or punitive damages of any kind or character suffered by such party, including, but not limited to, loss of
use, loss of profit, loss of revenue, loss of product or production whenever arising under this Agreement or as a result of, relating to or in connection with the work or services hereunder, and no such claim shall be made by either party against
the other party. 
 9. Term and Termination. 
 9.1. The term of this Agreement (the “Term”) shall extend from the Effective Date for a period of six (6) months. Any extension(s) beyond the initial six (6) month term must be in
writing and by mutual consent between the parties. 
 9.2. Company shall have the right to immediately terminate this Agreement
in the event Consultant breaches this Agreement. 
 10. Miscellaneous. 

10.1. The obligations of Consultant herein to the Company are personal to Consultant and may not be assigned by Consultant without the
express written consent of the Company. 
 10.2. The laws of the State of Louisiana will govern the interpretation, validity and
effect of this Agreement without regard to the place of execution or place of performance thereof and any disputes arising out of this Agreement shall be litigated in federal district court or state district court in Lafayette Parish, Louisiana.

 10.3. If any portion of this Agreement or the release granted in this Agreement should be declared unenforceable by a court
of competent jurisdiction, such unenforceable portion shall be severed and the remainder of this Agreement and the release granted by this Agreement shall remain valid and enforceable. 

10.5. This Agreement replaces all previous agreements or discussions relating to the subject matters hereof, and this Agreement
constitutes the entire agreement between the Company and Consultant with respect to the subject matters of this Agreement. This Agreement may not be modified in any respect by any verbal statement, representation or agreement made by any employee,
officer or representative of the Company, or by any written document unless it is signed by an officer of the Company. 

  
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 10.6 This Agreement may be executed in any number of counterparts, each of which will be
deemed an original, but all of which will constitute one and the same agreement. 
 IN WITNESS WHEREOF, the parties have
executed this Agreement in duplicate originals effective as of the Effective Date stated above. 
  

			
	PHI, INC.
		
	By:	 	 /s/ Richard A. Rovinelli

	Name:	 	Richard A. Rovinelli
	Title:	 	CAO/Director of Human Resources
		
	Date:	 	November 2, 2012
	
	CONSULTANT:
	
	Michael J. McCann
		
	Signature:	 	 /s/ Michael J. McCann

		
	Date:	 	November 2, 2012

  
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