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                                                                    EXHIBIT 10.1

                            W-H ENERGY SERVICES, INC.

                             2006 STOCK AWARDS PLAN

SECTION 1. Purpose; Definitions

     The purpose of this Plan is to provide the Company with a competitive
advantage in attracting, retaining and motivating directors, officers,
employees, and consultants by allowing the Company and its Subsidiaries and
Affiliates to provide to such persons incentives that are directly related to
increases in Company shareholder value.

     Certain terms used herein have definitions given to them in the first place
in which they are used. In addition, for purposes of this Plan, the following
terms are defined as set forth below:

          (a) "Affiliate" means a corporation or other entity controlled by,
     controlling or under common control with the Company.

          (b) "Award" means an award hereunder to a Participant of a Stock
     Option, a Stock Appreciation Right, Restricted Stock, a Restricted Stock
     Unit, a Performance Unit, or other stock-based award granted pursuant to
     the terms of this Plan.

          (c) "Award Agreement" means any written agreement, contract or other
     instrument or document evidencing the grant of an Award.

          (d) "Award Cycle" means a period of consecutive fiscal years or
     portions thereof designated by the Committee over which Performance Units
     are to be earned.

          (e) "Board" means the Board of Directors of the Company.

          (f) "Cause" means, unless otherwise provided by the Committee in an
     Award Agreement, (i) "Cause" as defined in any Individual Agreement to
     which the Participant and the Company or a Subsidiary or Affiliate thereof
     is a party, or (ii) if there is no such Individual Agreement or if such
     agreement does not define Cause: (A) conviction of the Participant for
     committing a felony under federal law or the law of the state in which such
     action occurred, (B) dishonesty in the course of fulfilling the
     Participant's employment duties, (C) willful and deliberate failure on the
     part of the Participant to perform his or her employment duties in any
     material respect, or (D) prior to a Change in Control, such other events as
     shall be determined by the Committee. The Committee shall, unless otherwise
     provided in an Individual Agreement with the Participant, have the sole
     discretion to determine whether "Cause" exists, and its determination shall
     be final; provided, however, that Section 12 shall have no application
     following a Change in Control with respect to Awards that are outstanding
     immediately prior to a Change in Control.

          (g) "Change in Control" and "Change in Control Price" have the
     meanings set forth in Sections 11(b) and (c), respectively.

          (h) "Code" means the Internal Revenue Code of 1986, as amended from
     time to time, and any successor thereto.

          (i) "Commission" means the Securities and Exchange Commission or any
     successor agency.

          (j) "Committee" shall have the meaning set forth in Section 2(a).

          (k) "Common Stock" means common stock, par value $0.0001 per share, of
     the Company.

          (l) "Company" means W-H Energy Services, Inc., a Texas corporation.

          (m) "Covered Employee" means a Participant designated prior to the
     grant of Restricted Stock, Restricted Stock Units or Performance Units by
     the Committee who is or may be a "covered employee" within the meaning of
     Section 162(m)(3) of the Code in the year in which Restricted Stock,
     Restricted Stock Units or Performance Units are expected to be taxable to
     such Participant.

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          (n) "Disability" means, unless otherwise provided by the Committee in
     an Award Agreement, (i) "Disability," or any derivative word thereof, as
     defined in any Individual Agreement to which the Participant and the
     Company or a Subsidiary or Affiliate thereof is a party or (ii) if there is
     no such Individual Agreement or if such agreement does not define
     Disability, a disability to the extent a Participant is permanently
     disabled by bodily injury or disease from performing the normal duties of
     his or her position, as determined by the Committee in its sole discretion.
     Notwithstanding anything to the contrary, only to the extent that an Award
     is subject to Section 409A of the Code, the definition of "Disability"
     shall have the meaning set forth in Section 409A(a)(2)(C) of the Code.

          (o) "Good Reason" means "Good Reason" as defined or set forth in any
     Individual Agreement to which the Participant and the Company or a
     Subsidiary or Affiliate thereof is a party.

          (p) "Effective Date" shall have the meaning set forth in Section 16.

          (q) "Eligible Individuals" mean directors, officers, employees and
     consultants of the Company or any of its Subsidiaries or Affiliates, and
     prospective directors, officers, employees and consultants who have
     accepted offers of positions, employment or consultancy from the Company or
     its Subsidiaries or Affiliates, who are or will be responsible for or
     contribute to the management, growth or profitability of the business of
     the Company, and/or its Subsidiaries or Affiliates.

          (r) "Exchange Act" means the Securities Exchange Act of 1934, as
     amended from time to time, and any successor thereto.

          (s) "Fair Market Value" means, except as otherwise provided by the
     Committee, as of any given date, the closing price on such date of a share
     of Common Stock on the NYSE or such other national securities market or
     exchange as may at the time be the principal market for the Common Stock,
     or if the shares were not traded on such national securities market or
     exchange on such date, then on the next preceding date on which such shares
     of Common Stock were traded, all as reported by such source as the
     Committee may select.

          (t) "Family Member" has the meaning given to such term in General
     Instruction A.1(a)(5) to Form S-8 promulgated under the Securities Act of
     1933, as amended or any successor form thereto, unless otherwise defined by
     the Committee.

          (u) "Incentive Stock Option" means any Stock Option designated as, and
     qualified as, an "incentive stock option" within the meaning of Section 422
     of the Code.

          (v) "Individual Agreement" means an employment, consulting or similar
     written agreement between a Participant and the Company or one of its
     Subsidiaries or Affiliates.

          (w) "NYSE" means the New York Stock Exchange.

          (x) "Non-Qualified Stock Option" means any Stock Option that is not an
     Incentive Stock Option.

          (y) "Option Price" shall have the meaning set forth in Section
     5(d)(i).

          (z) "Outside Director" means a director who meets the applicable
     independence requirements of the NYSE and who qualifies as an "outside
     director" within the meaning of Section 162(m) of the Code and as a
     "non-employee director" within the meaning of Rule 16b-3 promulgated under
     the Exchange Act.

          (aa) "Participant" means an Eligible Individual to whom an Award has
     been made.

          (bb) "Performance Goals" means the performance goals established by
     the Committee in connection with the grant of Restricted Stock, Restricted
     Stock Units or Performance Units. In the case of Qualified
     Performance-Based Awards, (i) such goals shall be based on the attainment
     of specified levels of one or more of the following measures with respect
     to the Company or a Subsidiary, Affiliate, business unit, division or
     department thereof for or within which the Participant performs services:
     stock price, market share, sales, asset quality, non-performing assets,
     earnings per share, return on equity, costs, operating income,
     marketing-spending efficiency, return on operating assets, return on
     assets, revenue, EBITDA, EBITDA margin, operating income margin, capital
     expenditures and/or levels of cost savings and (ii) such Performance Goals
     shall be set by the Committee within the time period prescribed by Section
     162(m) of the Code and related regulations. Such Performance Goals also may
     be based upon specified levels of Company (including a business unit of the
     Company) or individual performance under one or more of the measures
     described above relative to the performance of persons or entities other
     than those described above.

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          (cc) "Performance Units" means an Award granted under Section 9.

          (dd) "Plan" means the W-H Energy Services, Inc. 2006 Stock Awards
     Plan, as set forth herein and as hereinafter amended from time to time.

          (ee) "Qualified Performance-Based Award" means an Award of Restricted
     Stock, Restricted Stock Units or Performance Units designated as such by
     the Committee at the time of grant, based upon a determination that (i) the
     recipient is or may be a "covered employee" within the meaning of Section
     162(m)(3) of the Code in the year in which the Company would expect to be
     able to claim a tax deduction with respect to such Restricted Stock,
     Restricted Stock Units or Performance Units and (ii) the Committee wishes
     such Award to qualify for the Section 162(m) Exemption.

          (ff) "Restricted Stock" means an Award granted under Section 7.

          (gg) "Restricted Stock Unit" means an Award granted under Section 8.

          (hh) "RSU Value" has the meaning set forth in Section 8(c), (ii).

          (ii) "Rule 16b-3" means Rule 16b-3, as promulgated by the Commission
     under Section 16(b) of the Exchange Act, as amended from time to time.

          (jj) "Section 162(m) Exemption" means the exemption from the
     limitation on deductibility imposed by Section 162(m) of the Code that is
     set forth in Section 162(m)(4)(C) of the Code.

          (kk) "Stock Appreciation Right" means an Award granted under Section
     6.

          (ll) "Stock Option" means an Award granted under Section 5.

          (mm) "Subsidiary" means any corporation, partnership, limited
     liability company, joint venture or other entity during any period in which
     at least a 50% voting or profits interest is owned, directly or indirectly,
     by the Company or any successor to the Company.

          (nn) "Termination of Employment" means in the case of a director, such
     director's resignation or removal from office, and, in the case of an
     officer, employee or consultant, the termination of such person's
     employment with, or performance of services for, the Company and any of its
     Subsidiaries or Affiliates. A Participant employed by, or performing
     services for, a Subsidiary or an Affiliate shall also be deemed to incur a
     Termination of Employment if the Subsidiary or Affiliate ceases to be such
     a Subsidiary or an Affiliate, as the case may be, and the Participant does
     not immediately thereafter become an employee of, or service-provider for,
     the Company or another Subsidiary or Affiliate. Temporary absences from
     employment because of illness, vacation or leave of absence and transfers
     among the Company and its Subsidiaries and Affiliates shall not be
     considered Terminations of Employment.

SECTION 2. Administration

     (a) This Plan shall be administered by the Compensation Committee of the
Board or such other committee of the Board as the Board may from time to time
designate (the "Committee"), which shall be composed of not less than two
Outside Directors, and shall be appointed by and serve at the pleasure of the
Board.

     (b) The Committee shall have plenary authority to grant Awards pursuant to
the terms of this Plan to Participants.

     (c) Among other things, the Committee shall have the authority, subject to
the terms of this Plan:

          (i) To select the Participants to whom Awards may from time to time be
     granted;

          (ii) To determine whether and to what extent any type of Award is to
     be granted hereunder;

          (iii) To determine the number of shares of Common Stock to be covered
     by each Award granted hereunder;

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          (iv) To determine the terms and conditions of any Award granted
     hereunder (including, but not limited to, the Option Price (subject to
     Section 5(d)(i)), any vesting condition, restriction or limitation (which
     may be related to the performance of the Participant, the Company or any
     Subsidiary or Affiliate) and any vesting acceleration or forfeiture waiver
     regarding any Award and the shares of Common Stock relating thereto, based
     on such factors as the Committee shall determine;

          (v) Subject to Section 13, to modify, amend or adjust the terms and
     conditions of any Award, at any time or from time to time, including but
     not limited to Performance Goals; provided, however, that the Committee may
     not adjust upward the amount payable to a Covered Employee with respect to
     a Qualified Performance-Based Award or waive or alter the Performance Goals
     associated therewith in a manner that would violate Section 162(m) of the
     Code; and

          (vi) To determine under what circumstances an Award may be settled in
     cash or Common Stock to the extent provided in this Plan.

     (d) The Committee shall have the authority to adopt, alter and repeal such
administrative rules, guidelines and practices governing this Plan as it shall
from time to time deem advisable, to interpret the terms and provisions of this
Plan and any Award issued under this Plan (and any agreement relating thereto)
and to otherwise supervise the administration of this Plan.

     (e) The Committee may act only by a majority of its members then in office.
Except to the extent prohibited by applicable law or the applicable rules of a
stock exchange, the Committee may (i) allocate all or any portion of its
responsibilities and powers to any one or more of its members and (ii) delegate
all or any part of its responsibilities and powers to any person or persons
selected by it, provided that no such delegation may be made that would cause
Awards or other transactions under this Plan to become subject to (or lose an
exemption under) the short-swing profit recovery provisions of Section 16(b) of
the Exchange Act or cause an Award designated as a Qualified Performance-Based
Award not to qualify for, or to cease to qualify for, the Section 162(m)
Exemption. Any such allocation or delegation may be revoked by the Committee at
any time.

     (f) Any determination made by the Committee with respect to any Award shall
be made in the sole discretion of the Committee at the time of the grant of the
Award or, unless in contravention of any express term of this Plan, at any time
thereafter. All decisions made by the Committee or any appropriately delegated
officer pursuant to the provisions of this Plan shall be final and binding on
all persons, including the Company, its Affiliates, Subsidiaries, shareholders
and Participants.

     (g) Any authority granted to the Committee may also be exercised by the
full Board, except to the extent that the grant or exercise of such authority
would cause any Award or transaction to become subject to (or lose an exemption
under) the short-swing profit recovery provisions of Section 16(b) of the
Exchange Act or cause an Award designated as a Qualified Performance-Based Award
not to qualify for, or to cease to qualify for, the Section 162(m) Exemption. To
the extent that any permitted action taken by the Board conflicts with action
taken by the Committee, the Board action shall control.

SECTION 3. Common Stock Subject to Plan

     (a) Subject to the adjustments provided pursuant to Sections 3(d) and (e),
an aggregate of 1,100,000 shares of Common Stock are reserved for issuance under
this Plan. The number of shares of Common Stock reserved for issuance under this
Plan shall be reduced only by the number of shares of Common Stock delivered in
payment or settlement of Awards. Any shares of Common Stock issued in connection
with Restricted Stock, Restricted Stock Units, Performance Units or Other Stock
Based Awards shall count against the limit described in this Section 3(a) as 1.7
shares of Common Stock for every one share of Common Stock issued. Shares of
Common Stock issued in connection with any other type of Award shall be counted
against this limit as one share of Common Stock for every one share of Common
Stock actually issued; provided that each Stock Appreciation Right that is
exercised and settled in shares of Common Stock shall be counted against this
limit as one share of Common Stock for each Stock Appreciation Right that is
exercised (regardless of the number of shares of Common Stock actually issued to
settle each Stock Appreciation Right).

     (b) Notwithstanding anything in Section 3(a) to the contrary but subject to
adjustment under Sections 3(d) and 3(e), (1) no Participant shall be granted
Stock Options or Stock Appreciation Rights in respect of more than 1,100,000
shares of Common Stock in any calendar year, (2) no Participant shall be granted
Restricted Stock, Restricted Stock Units, Performance Units or Other Stock Based
Awards in respect of more than 650,000 shares of Common Stock in any calendar
year and (3) the Company may issue only 1,100,000 shares of Common Stock upon
the exercise of Incentive Stock Options.

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     (c) If (i) any Award expires or is cancelled or terminated without the
issuance of shares, (ii) any Award is settled in cash or other property rather
than shares or (iii) shares of Common Stock issued in connection with any Award
are forfeited, then any such shares of Common Stock subject to such Awards shall
again be available for distribution in connection with Awards under this Plan;
provided, however, that if a Qualified Performance-Based Award of a Stock Option
or Stock Appreciation Right is cancelled (as determined by Treasury Regulation
Section 1.162-27(e)(2)(vi)(B)), the shares of Common Stock subject to such Stock
Option or Stock Appreciation Right shall be counted against the individual per
year maximum during the calendar year of such cancellation to determine the
number of shares of Common Stock subject to Stock Options or Stock Appreciation
Rights which may be granted pursuant to Sections 3(a) and 3(b).

     (d) The existence of this Plan and the Awards granted hereunder shall not
affect in any way the right or power of the Board or the shareholders of the
Company to make or authorize any adjustment, recapitalization, reorganization or
other change in the Company's or any Subsidiary's or Affiliate's capital
structure or its business, any merger or consolidation of the Company or any
Subsidiary or Affiliate, any issue of debt or equity securities ahead of or
affecting the Company's Common Stock or the rights thereof, the dissolution or
liquidation of the Company or any Subsidiary or Affiliate or any sale, lease,
exchange or other disposition of all or any part of its assets or business or
any other corporate act or proceeding.

     (e) In the event of any change in corporate capitalization (including, but
not limited to, a change in the number of shares of Common Stock outstanding),
such as a stock split, or a corporate transaction, such as any merger,
consolidation, separation, including a spin-off, or other distribution of stock
or property of the Company (including any extraordinary cash or stock dividend),
any reorganization (whether or not such reorganization comes within the
definition of such term in Section 368 of the Code) or any partial or complete
liquidation of the Company, the Committee or Board may make such substitution or
adjustments (i) in the aggregate number and kind of shares reserved for issuance
under this Plan and the maximum limitation upon Stock Options and Stock
Appreciation Rights and other Awards to be granted to any Participant, (ii) in
the number, kind and Option Price and Strike Price of shares subject to
outstanding Stock Options and Stock Appreciation Rights, (iii) in the number and
kind of shares subject to other outstanding Awards granted under this Plan
and/or (iv) such other equitable substitutions or adjustments as it may
determine to be appropriate in its sole discretion (including, without
limitation, an amount in cash therefor); provided, however, that the number of
shares subject to any Award shall always be a whole number. Such adjusted Option
Price and/or Strike Price shall also be used to determine the amount payable by
the Company upon the exercise of any Stock Appreciation Right associated with
any Stock Option.

SECTION 4. Eligibility

     Awards may be granted under this Plan to Eligible Individuals.

SECTION 5. Stock Options

     (a) Grant. Stock Options may be granted to any Eligible Individual either
alone or in addition to other Awards granted under this Plan. Any Stock Option
granted under this Plan shall be in such form as the Committee may from time to
time approve.

     (b) Types of Stock Options. The Committee shall have the authority to grant
Incentive Stock Options, Non-Qualified Stock Options or both types of Stock
Options (in each case with or without Stock Appreciation Rights); provided,
however, that grants hereunder are subject to the limits on grants set forth in
Section 3. Incentive Stock Options may be granted only to employees of the
Company and its "subsidiary corporations" or "parent corporation" (within the
meaning of Section 424(e) or (f) of the Code). To the extent that any Stock
Option is not designated as an Incentive Stock Option or, even if so designated,
does not qualify as an Incentive Stock Option on or subsequent to its grant
date, it shall constitute a Non-Qualified Stock Option.

     (c) Award Agreements. Stock Options shall be evidenced by Award Agreements,
the terms and provisions of which may differ, as determined in the discretion of
the Committee. An Award Agreement shall indicate on its face whether it is
intended to be an agreement for an Incentive Stock Option or a Non-Qualified
Stock Option. The grant of a Stock Option shall occur on the date the Committee
by resolution selects a Participant to receive a grant of a Stock Option,
determines the number of shares of Common Stock to be subject to such Stock
Option to be granted to such Participant and specifies the terms and provisions
of the Stock Option. The Company shall notify a Participant of any grant of a
Stock Option, and a written Award Agreement shall be duly executed and delivered
by the Company and such Participant. Such agreement or agreements shall become
effective upon execution by the Company and such Participant.

     (d) Terms and Conditions. Stock Options granted under this Plan shall be
subject to the following terms and conditions and shall contain such additional
terms and conditions as the Committee shall deem desirable:

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          (i) Option Price. The Committee shall determine the option price per
     share of Common Stock purchasable under a Stock Option (the "Option
     Price"). The Option Price shall not be less than the Fair Market Value of
     the Common Stock subject to such Stock Option on the date of grant. Except
     for adjustments pursuant to Sections 3(d) and 3(e), in no event may any
     Stock Option granted under this Plan be amended to decrease the Option
     Price thereof, cancelled in conjunction with the grant of any new Stock
     Option with a lower Option Price, or otherwise be subject to any action
     that would be treated, for accounting purposes, as a "repricing" of such
     Stock Option, unless such amendment, cancellation or action is approved by
     the Company's shareholders in accordance with applicable law and stock
     exchange rules.

          (ii) Term. The term of each Stock Option shall be fixed by the
     Committee and set forth in the Award Agreement, but no Stock Option shall
     be exercisable more than 7 years after the date the Stock Option is
     granted.

          (iii) Exercisability. Except as otherwise provided herein or in an
     applicable Individual Agreement, Stock Options shall be exercisable at such
     time or times and subject to such terms and conditions as shall be
     determined by the Committee. The Committee may at any time accelerate the
     exercisability of any Stock Option. If the Committee provides that any
     Stock Option is exercisable only in installments, the Committee may at any
     time waive such installment exercise provisions, in whole or in part, based
     on such factors as the Committee may determine.

          (iv) Method of Exercise. Subject to the provisions of this Section 5
     and the provisions of the Award Agreement, Stock Options may be exercised,
     in whole or in part, at any time during the option term by giving written
     notice of exercise to the Company specifying the number of shares of Common
     Stock subject to the Stock Option to be purchased. Such notice shall be
     accompanied by payment in full of the Option Price by certified or bank
     check or such other instrument as the Company may accept. If approved by
     the Committee, payment, in full or in part, may also be made in the form of
     unrestricted Common Stock (by delivery of such shares or by attestation)
     already owned by the Participant of the same class as the Common Stock
     subject to the Stock Option (based on the Fair Market Value of the Common
     Stock on the date the Stock Option is exercised); provided, however, that,
     in the case of an Incentive Stock Option, the right to make a payment in
     the form of already owned shares of Common Stock of the same class as the
     Common Stock subject to the Stock Option may be authorized only at the time
     the Stock Option is granted and provided, further, that such already owned
     shares have been held by the Participant for at least six months at the
     time of exercise or had been purchased on the open market. If approved by
     the Committee, to the extent permitted by applicable law, payment in full
     or in part may also be made by a cashless exercise by delivering a properly
     executed exercise notice to the Company, together with a copy of
     irrevocable instructions to a broker to deliver promptly to the Company the
     amount of sale or loan proceeds necessary to pay the Option Price, and, if
     requested, the amount of any federal, state, local or foreign withholding
     taxes. To facilitate the foregoing, the Company may enter into agreements
     for coordinated procedures with one or more brokerage firms. No shares of
     Common Stock shall be delivered until full payment therefor has been made.
     A Participant shall have all of the rights of a shareholder of the Company
     holding the class or series of Common Stock that is subject to such Stock
     Option (including, if applicable, the right to vote the shares and the
     right to receive dividends), when the Participant has given written notice
     of exercise, has paid in full for such shares and, if requested by the
     Company, has given the representation described in Section 15(a).

     (e) Nontransferability. No Stock Option shall be transferable by a
Participant other than (i) by will or by the laws of descent and distribution or
any other testamentary distribution or (ii) in the case of a Non-Qualified Stock
Option, unless otherwise determined by the Committee, to such Participant's
Family Members, whether directly or indirectly or by means of a trust or
partnership or otherwise; provided, however, that notwithstanding anything in
this Plan to the contrary, no transfer of a Stock Option may be in exchange for
cash or property consideration. All Stock Options shall be exercisable, subject
to the terms of this Plan, only by the Participant, the guardian or legal
representative of the Participant, or any person to whom such option is
transferred pursuant to this paragraph, it being understood that the term
"holder" and "Participant" include such guardian, legal representative and other
transferee; provided, however, that Termination of Employment shall continue to
refer to the Termination of Employment of the original Participant.

     (f) Termination by Death. Unless otherwise determined by the Committee at
the time of grant, if a Participant incurs a Termination of Employment by reason
of death, any Stock Option held by such Participant may thereafter be exercised,
to the extent it was exercisable at the time of such death, or on such
accelerated basis as the Committee may determine, for a period of one year from
the date of the Participant's death or until the expiration of the stated term
of such Stock Option, whichever period is the shorter. In the event of
Termination of Employment by reason of death, if an Incentive Stock Option is
exercised after expiration of the exercise periods that apply for purposes of
Section 422 of the Code, such Stock Option will thereafter be treated as a
Non-Qualified Stock Option.

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     (g) Termination by Reason of Disability. Unless otherwise determined by the
Committee at the time of grant, if a Participant incurs a Termination of
Employment by reason of Disability, any Stock Option held by such Participant
may thereafter be exercised by the Participant (or the appointed fiduciary of
such Participant), to the extent it was exercisable at the time of termination,
or on such accelerated basis as the Committee may determine, for a period of one
year from the date of such Termination of Employment or until the expiration of
the stated term of such Stock Option, whichever period is the shorter. In the
event of Termination of Employment by reason of Disability, if an Incentive
Stock Option is exercised after the expiration of the exercise periods that
apply for purposes of Section 422 of the Code, such Stock Option will thereafter
be treated as a Non-Qualified Stock Option.

     (h) Other Termination. Unless otherwise determined by the Committee at the
time of grant: (A) if a Participant incurs a Termination of Employment for
Cause, all Stock Options held by such Participant shall thereupon terminate and
(B) if a Participant incurs a Termination of Employment for any reason other
than death, Disability or for Cause, any Stock Option held by such Participant,
to extent it was then exercisable at the time of termination, or on such
accelerated basis as the Committee may determine, may be exercised for the
lesser of three months from the date of such Termination of Employment or the
balance of such Stock Option's term; provided, however, that if the Participant
dies within such three-month period, any unexercised Stock Option held by such
Participant shall, notwithstanding the expiration of such three-month period,
continue to be exercisable to the extent to which it was exercisable at the time
of death for (i) a period of one year from the date of such death or (ii) the
expiration of the stated term of the Stock Option, whichever period is the
shorter. In the event of Termination of Employment for any reason other than
death, Disability or for Cause, if an Incentive Stock Option is exercised after
the expiration of the exercise periods that apply for purposes of Section 422 of
the Code, such Stock Option will thereafter be treated as a Non-Qualified Stock
Option.

     (i) Cashing Out of Stock Option. On receipt of written notice of exercise,
the Committee may elect to cash out all or part of the portion of the shares of
Common Stock for which a Stock Option is being exercised by paying the
Participant an amount, in cash or Common Stock, equal to the excess of the Fair
Market Value on the date of exercise of one share of Common Stock over the
Option Price times the number of shares of Common Stock for which the Option is
being exercised.

SECTION 6. Stock Appreciation Rights

     (a) Grant. Stock Appreciation Rights may be granted to any Eligible
Individual either alone ("Freestanding Stock Appreciation Rights") or in
conjunction with all or part of any Stock Option granted under this Plan
("Tandem Stock Appreciation Rights").

     (b) Award Agreement. Stock Appreciation Rights shall be evidenced by Award
Agreements, the terms and provisions of which may differ, as determined in the
discretion of the Committee. An Award Agreement shall indicate on its face
whether it is intended to be an agreement for a Tandem Stock Appreciation Right
or a Freestanding Stock Appreciation Right. The grant of a Stock Appreciation
Right shall occur on the date the Committee by resolution selects a Participant
to receive a grant of a Stock Appreciation Right, determines the number of
shares of Common Stock to be subject to such Stock Appreciation Right to be
granted to such Participant and specifies the terms and provisions of the Stock
Appreciation Right. The Company shall notify a Participant of any grant of a
Stock Appreciation Right, and a written Award Agreement shall be duly executed
and delivered by the Company and the Participant. Such agreement or agreements
shall become effective upon execution by the Company and the Participant.

     (c) Terms and Conditions of Tandem Stock Appreciation Rights. Tandem Stock
Appreciation Rights shall be subject to such terms and conditions as shall be
determined by the Committee, including the following:

          (i) Relationship to Related Stock Option. A Tandem Stock Appreciation
     Right issued in conjunction with a Non-Qualified Stock Option may be
     granted either at or after the time of grant of such Stock Option. A Tandem
     Stock Appreciation Right issued in conjunction with an Incentive Stock
     Option may be granted only at the time of grant of such Stock Option.
     Tandem Stock Appreciation Rights shall be exercisable only at such time or
     times and to the extent that the Stock Options to which they relate are
     exercisable in accordance with the provisions of Section 5. A Tandem Stock
     Appreciation Right shall have a strike price per share equal to the Option
     Price per share of the Stock Options to which such Tandem Stock
     Appreciation Right relates. Any Tandem Stock Appreciation Right shall
     terminate and no longer be exercisable upon the termination or exercise of
     the related Stock Option.

          (ii) Exercisability. A Tandem Stock Appreciation Right may only be
     exercised in conjunction with the exercise of the Stock Option to which
     such Tandem Stock Appreciation Right relates. Upon the exercise of a Tandem
     Stock Appreciation Right, a Participant shall be entitled to receive an
     amount in cash, shares of Common Stock or a combination of cash and shares,
     equal to (A) the excess of the Fair Market Value on the date of exercise of
     one share of Common Stock over the Option Price per share specified in the
     related Stock Option multiplied by (B) the number of shares of Common Stock
     in respect of which such Stock

                                       7

<PAGE>

     Appreciation Right shall have been exercised, with the Committee having the
     right to determine the form of payment. Notwithstanding anything herein to
     the contrary, unvested Tandem Stock Appreciation Rights shall become
     exercisable by a Participant not later than the time set forth in such
     Participant's Individual Agreement.

          (iii) Method of Exercise. A Tandem Stock Appreciation Right may be
     exercised by a Participant by surrendering the applicable portion of the
     related Stock Option in accordance with procedures established by the
     Committee. Upon such exercise and surrender, the Participant shall be
     entitled to receive an amount determined in the manner prescribed by
     Section 6(c)(ii). Stock Options which have been so surrendered shall no
     longer be exercisable to the extent the related Stock Appreciation Rights
     have been exercised.

          (iv) Nontransferability. Tandem Stock Appreciation Rights shall be
     transferable only to the extent that the underlying Stock Option is
     transferable pursuant to Section 5(e); provided, however, that
     notwithstanding anything in this Plan to the contrary, no transfer of a
     Tandem Stock Appreciation Right may be in exchange for cash or property
     consideration.

     (d) Terms and Conditions of Freestanding Stock Appreciation Rights.
Freestanding Stock Appreciation Rights shall be subject to such terms and
conditions as shall be determined by the Committee, including the following:

          (i) Strike Price. The Committee shall determine the strike price per
     share of Common Stock subject to a Freestanding Stock Appreciation Right
     (the "Strike Price"). The Strike Price shall not be less than the Fair
     Market Value of one share of Common Stock as of the date of grant. Except
     for adjustments pursuant to Sections 3(d) and 3(e), in no event may any
     Stock Appreciation Right granted under this Plan be amended to decrease the
     Strike Price thereof, cancelled in conjunction with the grant of any new
     Stock Appreciation Right with a lower Strike Price, or otherwise be subject
     to any action that would be treated, for accounting purposes, as a
     "repricing" of such Stock Appreciation Right, unless such amendment,
     cancellation, or action is approved by the Company's shareholders in
     accordance with applicable law and stock exchange rules.

          (ii) Term. The term of each Freestanding Stock Appreciation Right
     shall be fixed by the Committee and set forth in the Award Agreement, but
     such term shall not exceed 7 years after the date the Freestanding Stock
     Appreciation Right is granted.

          (iii) Exercisability. Except as otherwise provided herein or in an
     applicable Individual Agreement, Freestanding Stock Appreciation Rights
     shall be exercisable at such time or times and subject to such terms and
     conditions as shall be determined by the Committee. The Committee may at
     any time accelerate the exercisability of any Stock Appreciation Right. If
     the Committee provides that any Stock Appreciation Right is exercisable
     only in installments, the Committee may at any time waive such installment
     exercise provisions, in whole or in part, based on such factors as the
     Committee may determine.

          (iv) Method of Exercise. Subject to the provisions of this Section 6
     and the provisions of the Award Agreement, a Freestanding Stock
     Appreciation Right may be exercised, in whole or in part, at any time
     during its term by giving written notice of exercise to the Company
     specifying the number of shares of Common Stock as to which such
     Freestanding Standing Appreciation Right is being exercised. Upon the
     exercise of a Freestanding Stock Appreciation Right, a Participant shall be
     entitled to receive an amount in cash, shares of Common Stock or a
     combination of cash and shares, equal to (A) the excess of the Fair Market
     Value on the date of exercise of one share of Common Stock over the
     applicable Strike Price multiplied by (B) the number of shares of Common
     Stock in respect of which the Freestanding Stock Appreciation Right shall
     have been exercised, with the Committee having the right to determine the
     form of payment.

          (v) Nontransferability. No Freestanding Stock Appreciation Right shall
     be transferable by a Participant other than (i) by will or by the laws of
     descent and distribution or any other testamentary distribution or (ii)
     unless otherwise determined by the Committee, to such Participant's Family
     Members, whether directly or indirectly or by means of a trust or
     partnership or otherwise; provided, however, that notwithstanding anything
     in this Plan to the contrary, no transfer of a Freestanding Stock
     Appreciation Right may be in exchange for cash or property consideration.
     All Freestanding Stock Appreciation Rights shall be exercisable, subject to
     the terms of this Plan, only by the Participant, the guardian or legal
     representative of the Participant or any person to whom such Freestanding
     Stock Appreciation Right is transferred pursuant to this paragraph, it
     being understood that the terms "holder" and "Participant" include such
     guardian, legal representative and other transferee; provided, however,
     that the term "Termination of Employment" shall continue to refer to the
     Termination of Employment of the original Participant.

          (vi) Termination by Death. Unless otherwise determined by the
     Committee at the time of grant, if a Participant incurs a Termination of
     Employment by reason of death, any Freestanding Stock Appreciation Right
     held by such Participant may thereafter be exercised, to the extent it was
     exercisable at the time of such death, or on such accelerated basis as the
     Committee may determine, for a period of one year from the date of the
     Participant's death or until the expiration of the stated term of such
     Freestanding Stock Appreciation Right, whichever period is shorter.

                                       8

<PAGE>

          (vii) Termination by Reason of Disability. Unless otherwise determined
     by the Committee at the time of grant, if a Participant incurs a
     Termination of Employment by reason of Disability, any Freestanding Stock
     Appreciation Right held by such Participant may thereafter be exercised by
     the Participant (or the appointed fiduciary of such Participant), to the
     extent it was exercisable at the time of termination, or on such
     accelerated basis as the Committee may determine, for a period of one year
     from the date of such Termination of Employment or until the expiration of
     the stated term of such Freestanding Stock Appreciation Right, whichever
     period is the shorter.

          (viii) Other Termination. Unless otherwise determined by the Committee
     at the time of grant: (A) if a Participant incurs a Termination of
     Employment for Cause, all Freestanding Stock Appreciation Rights held by
     such Participant shall thereupon terminate and (B) if a Participant incurs
     a Termination of Employment for any reason other than death, Disability or
     for Cause, any Freestanding Stock Appreciation Right held by such
     Participant, to extent it was then exercisable at the time of termination,
     or on such accelerated basis as the Committee may determine, may be
     exercised for the lesser of three months from the date of such Termination
     of Employment or the balance of such Freestanding Stock Appreciation
     Right's term; provided, however, that if the Participant dies within such
     three-month period, any unexercised Freestanding Stock Appreciation Right
     held by such Participant shall, notwithstanding the expiration of such
     three-month period, continue to be exercisable to the extent to which it
     was exercisable at the time of death for (i) a period of one year from the
     date of such death or (ii) the expiration of the stated term of the
     Freestanding Stock Appreciation Right, whichever period is the shorter.

SECTION 7. Restricted Stock

     (a) Grant. Shares of Restricted Stock may be granted to any Eligible
Individual either alone or in addition to other Awards granted under this Plan.
The Committee shall determine the Participants to whom and the time or times at
which grants of Restricted Stock will be awarded, subject to Section 3, the
number of shares to be awarded to any Participant, the conditions for vesting,
the time or times within which such Awards may be subject to forfeiture and any
other terms and conditions of the Award, in addition to those contained in
Section 7(d).

     (b) Award Agreements. Restricted Stock shall be evidenced by Award
Agreements, the terms and provisions of which may differ, as determined in the
discretion of the Committee. The grant of Restricted Stock shall occur on the
date the Committee by resolution selects a Participant to receive a grant of
Restricted Stock, determines the number of shares of Common Stock to be subject
to such Restricted Stock to be granted to such Participant and specifies the
terms and provisions of the Restricted Stock; provided that the 30-day period to
make an election under Section 83(b) of the Code shall not begin until the
"transfer" (as determined under Section 83 of the Code and the Treasury
Regulations thereunder) of the Restricted Stock. The Company shall notify a
Participant of any grant of Restricted Stock, and a written Award Agreement
shall be duly executed and delivered by the Company and the Participant. Such
agreement or agreements shall become effective upon execution by the Company and
the Participant.

     (c) Share Certificates. Shares of Restricted Stock shall be evidenced in
such manner as the Committee may deem appropriate, including book-entry
registration or issuance of one or more stock certificates. Any certificate
issued in respect of shares of Restricted Stock shall be registered in the name
of such Participant and shall bear an appropriate legend referring to the terms,
conditions and restrictions applicable to such Award, substantially in the
following form:

     "The transferability of this certificate and the shares of stock
     represented hereby are subject to the terms and conditions (including
     forfeiture) of the W-H Energy Services, Inc. 2006 Stock Awards Plan and a
     related Award Agreement. Copies of such Plan and Award Agreement are on
     file at the offices of W-H Energy Services, Inc., 10370 Richmond Avenue,
     Suite 990, Houston, Texas 77042."

     The Committee may require that the certificates evidencing such shares be
held in custody by the Company until the restrictions thereon shall have lapsed
and that, as a condition of any Award of Restricted Stock, the Participant shall
have delivered a stock power, endorsed in blank, relating to the Common Stock
covered by such Award.

     (d) Terms and Conditions. Shares of Restricted Stock shall be subject to
the following terms and conditions:

          (i) Performance Goals and Vesting. The Committee may, prior to or at
     the time of grant, designate an Award of Restricted Stock as a Qualified
     Performance-Based Award, in which event it shall condition the grant or
     vesting, as applicable, of such Restricted Stock upon the attainment of
     Performance Goals. The grant or vesting of an Award of Restricted Stock not
     designated by the Committee as a Qualified Performance-Based Award may also
     be conditioned upon the attainment of Performance Goals.

                                       9

<PAGE>

     Regardless of whether an Award of Restricted Stock is a Qualified
     Performance-Based Award, the Committee may condition the grant or vesting
     thereof upon the continued employment or service of the Participant. The
     conditions for grant or vesting and the other provisions of Restricted
     Stock Awards (including without limitation any applicable Performance
     Goals) need not be the same with respect to each Participant. The Committee
     may at any time, in its sole discretion, accelerate or waive, in whole or
     in part, any of the foregoing restrictions; provided, however, that in the
     case of Restricted Stock that is a Qualified Performance-Based Award, the
     applicable Performance Goals must have been satisfied.

          (ii) Nontransferability. Subject to the provisions of this Plan and
     the applicable Award Agreement, during the period, if any, set by the
     Committee, commencing with the date of such Award for which a Participant's
     continued service is required (for purposes of this Section 7, the
     "Restriction Period"), and until the later of (A) the expiration of the
     Restriction Period and (B) the date the applicable Performance Goals (if
     any) are satisfied, such Participant shall not be permitted to sell,
     assign, transfer, pledge or otherwise encumber shares of Restricted Stock.

          (iii) Restricted Stock Rights. Except as provided in this Plan and the
     applicable Award Agreement, a Participant shall have, with respect to the
     shares of Restricted Stock awarded to such Participant, all of the rights
     of a shareholder of the Company holding the class or series of Common Stock
     that is the subject of the Restricted Stock, including, if applicable, the
     right to vote the shares and the right to receive any dividends. Unless
     otherwise provided in an Award Agreement, cash dividends payable with
     respect to Restricted Stock will be paid to such Participant in cash on the
     day on which the corresponding dividend on shares of Common Stock is paid
     to shareholders, or as soon as administratively practicable thereafter, but
     in no event later than the fifteenth (15th) day of the third calendar month
     following the day on which the corresponding dividend on shares of Common
     Stock is paid to shareholders. The Committee may provide in an Award
     Agreement that payment of dividends with respect to Restricted Stock shall
     be subject to the attainment of one or more Performance Goals.

          (iv) Termination. Except to the extent otherwise provided in this Plan
     and the applicable Award Agreement, upon a Participant's Termination of
     Employment for any reason during the Restriction Period or prior to the
     satisfaction of any applicable Performance Goals, all shares still subject
     to restriction shall be forfeited by the Participant; provided, however,
     that the Committee shall have the discretion to waive, in whole or in part,
     any or all remaining restrictions (other than, in the case of a Qualified
     Performance-Based Award of Restricted Stock granted to a Covered Employee,
     satisfaction of the applicable Performance Goals unless the Participant's
     employment is terminated by reason of death or Disability or by the Company
     without Cause or by the Participant for Good Reason).

          (v) Acceleration. The Committee at any time may accelerate the time or
     conditions under which the forfeiture restrictions in an Award Agreement
     related to the Restricted Stock lapse; provided, however, that except in
     the event of a Change in Control, the Committee may not take such action
     with respect to a Qualified Performance-Based Award of Restricted Stock
     granted to a Covered Employee, unless the Performance Goals with respect to
     such Restricted Stock have been attained. With respect to a Qualified
     Performance-Based Award of Restricted Stock granted to a Covered Employee,
     if the lapse of the forfeiture restrictions imposed upon such Restricted
     Stock, or the payment of dividends with respect to Restricted Stock, is
     conditioned in whole or in part upon the attainment of Performance Goals,
     such forfeiture restrictions shall not lapse and such dividends shall not
     be paid unless and until the Committee certifies in writing that such
     Performance Goals and any other conditions on the lapse of forfeiture
     restrictions or payment of dividends have been satisfied. Notwithstanding
     anything in this Section 7 to the contrary, any or all remaining
     restrictions with respect to Restricted Stock shall be waived to the extent
     required by a Participant's Individual Agreement; provided, however, that,
     in the case of a Qualified Performance-Based Award of Restricted Stock
     granted to a Covered Employee, satisfaction of the applicable Performance
     Goals may not be waived pursuant to the Participant's Individual Agreement
     unless such Individual Agreement provides for such acceleration upon a
     change of control, death, Disability or the termination of a Participant's
     employment by the Company without Cause or by the Participant for Good
     Reason.

          (vi) Issuance of Certificates. If and when any applicable Performance
     Goals are satisfied and the Restriction Period expires without a prior
     forfeiture of the Restricted Stock, unlegended certificates for such shares
     shall be delivered to the Participant upon surrender of the legended
     certificates.

SECTION 8. Restricted Stock Units

     (a) Grant. Restricted Stock Units may be granted to any Eligible Individual
either alone or in addition to other Awards granted under this Plan. The
Committee shall determine the Participants to whom and the time or times at
which grants of Restricted Stock Units will be awarded, subject to Section 3,
the number of shares to be awarded to any Participant, the conditions for
vesting, the time or times within which such Awards may be subject to forfeiture
and any other terms and conditions of the Awards, in addition to those

                                       10

<PAGE>

contained in Section 8(c). Each Restricted Stock Unit shall correspond to one
share of Common Stock and shall represent the right to receive shares of Common
Stock, cash or both (as determined by the Committee) upon satisfaction of such
conditions as may be set forth in the applicable Award Agreement.

     (b) Award Agreements. Restricted Stock Units shall be evidenced by Award
Agreements, the terms and provisions of which may differ, as determined in the
discretion of the Committee. The grant of a Restricted Stock Unit shall occur on
the date the Committee by resolution selects a Participant to receive a grant of
a Restricted Stock Unit, determines the number of shares of Common Stock to be
subject to such Restricted Stock Unit to be granted to such Participant and
specifies the terms and provisions of the Restricted Stock Unit. The Company
shall notify a Participant of any grant of a Restricted Stock Unit, and a
written Award Agreement shall be duly executed and delivered by the Company and
the Participant. Such agreement or agreements shall become effective upon
execution by the Company and the Participant.

     (c) Terms and Conditions. Restricted Stock Units shall be subject to the
following terms and conditions:

          (i) Performance Goals and Vesting. The Committee may, prior to or at
     the time of grant, designate an Award of Restricted Stock Units as a
     Qualified Performance-Based Award, in which event it shall condition the
     grant or vesting, as applicable, of such Restricted Stock Units upon the
     attainment of Performance Goals. The grant or vesting of an Award of
     Restricted Stock Units not designated by the Committee as a Qualified
     Performance-Based Award may also be conditioned upon the attainment of
     Performance Goals. Regardless of whether an Award of Restricted Stock Units
     is a Qualified Performance-Based Award, the Committee may condition the
     grant or vesting thereof upon the continued service of the Participant. The
     conditions for grant or vesting and the other provisions of Restricted
     Stock Unit Awards (including without limitation any applicable Performance
     Goals) need not be the same with respect to each Participant. The Committee
     may at any time, in its sole discretion, accelerate or waive, in whole or
     in part, any of the foregoing restrictions; provided, however, that in the
     case of a Restricted Stock Unit that is a Qualified Performance-Based
     Award, the applicable Performance Goals must have been satisfied.

          (ii) Settlement. Subject to the provisions of the Award Agreement,
     upon the lapse of the forfeiture restrictions in the Award Agreement with
     respect to a Restricted Stock Unit, the Participant will be entitled to
     receive, without any payment to the Company (other than any required tax
     withholding amounts), an amount (the "RSU Value") equal to the product of
     (i) the number of Restricted Stock Units with respect to which the
     forfeiture restrictions in the Award Agreement have lapsed, multiplied by
     (ii) the Fair Market Value on the date of such lapse of one share of Common
     Stock.

          Payment of the RSU Value to the Participant shall be made in (i)
     shares of Common Stock, valued at the Fair Market Value on the date the
     forfeiture restrictions in the Award Agreement lapse, (ii) cash or (iii) a
     combination thereof as provided in the Award Agreement. The payment of the
     RSU Value shall be made as soon as administratively feasible following the
     lapse of the forfeiture restrictions in the Award Agreement, but in no
     event later than March 15th of the calendar year immediately following the
     calendar year in which the forfeiture restrictions in the Award Agreement
     lapse.

          (iii) Nontransferability. Subject to the provisions of this Plan and
     the Award Agreement, during the period, if any, set by the Committee,
     commencing with the date of such Award for which a Participant's continued
     service is required (for purposes of this Section 8, the "Restriction
     Period"), and until the later of (A) the expiration of the Restriction
     Period and (B) the date the applicable Performance Goals (if any) are
     satisfied, such Participant shall not be permitted to sell, assign,
     transfer, pledge or otherwise encumber Restricted Stock Units.

          (iv) Dividend Equivalents. The Committee may provide in an Award
     Agreement that the Participant shall be entitled to receive dividend
     equivalents. Unless otherwise provided in the Award Agreement, such
     dividend equivalents will be paid to the Participant in cash on the day on
     which the corresponding dividend on shares of Common Stock is distributed
     to shareholders, or as soon as administratively practicable thereafter, but
     in no event later than the fifteenth (15th) day of the third calendar month
     following the day on which the corresponding dividend on shares of Common
     Stock is paid to shareholders. The Committee may provide in an Award
     Agreement that payment of dividend equivalents with respect to Restricted
     Stock Units shall be subject to the attainment of one or more Performance
     Goals established by the Committee.

          (v) Termination. Except to the extent otherwise provided in this Plan
     and the applicable Award Agreement, upon a Participant's Termination of
     Employment for any reason during the Restriction Period or prior to the
     satisfaction of any applicable Performance Goals, all Restricted Stock
     Units still subject to restriction shall be forfeited by the Participant;
     provided, however, that the Committee shall have the discretion to waive,
     in whole or in part, any or all remaining restrictions (other than, in the
     case of Qualified Performance-Based Awards of Restricted Stock Units
     granted to a Covered Employee, satisfaction of the applicable Performance
     Goals unless the Participant's employment is terminated by reason of death
     or Disability or by the Company without Cause or by the Participant for
     Good Reason).

                                       11

<PAGE>

          (vi) Acceleration. The Committee at any time may accelerate the time
     or conditions under which the forfeiture restrictions in an Award Agreement
     related to Restricted Stock Units lapse; provided, however, that except in
     the event of a Change in Control, the Committee may not take such action
     with respect to a Qualified Performance-Based Award of Restricted Stock
     Units granted to a Covered Employee unless the Performance Goals with
     respect to such Restricted Stock Units have been attained. With respect to
     a Qualified Performance-Based Award of Restricted Stock Units granted to a
     Covered Employee, if the lapse of the forfeiture restrictions imposed upon
     such Restricted Stock Units, or the payment of dividend equivalents with
     respect to Restricted Stock Units, is conditioned in whole or in part upon
     the attainment of Performance Goals, such forfeiture restrictions shall not
     lapse and such dividend equivalents shall not be paid unless and until the
     Committee certifies in writing that such performance goals and any other
     conditions on the lapse of forfeiture restrictions or payment of dividend
     equivalents have been satisfied. Notwithstanding anything in this Section 8
     to the contrary, any or all remaining restrictions with respect to
     Restricted Stock Units shall be waived to the extent required by a
     Participant's Individual Agreement; provided, however, that, in the case of
     a Qualified Performance-Based Award of Restricted Stock Units granted to a
     Covered Employee, satisfaction of the applicable Performance Goals may not
     be waived pursuant to the Participant's Individual Agreement unless such
     Individual Agreement provides for such acceleration upon a change of
     control, death, Disability or the termination of a Participant's employment
     by the Company without Cause or by the Participant for Good Reason.

          (vii) No Rights as Shareholder. Except as provided in the applicable
     Award Agreement, a Participant shall have with respect to such Restricted
     Stock Units none of the rights of a holder of Common Stock unless and until
     shares of Common Stock are actually delivered in satisfaction of such
     Restricted Stock Units.

SECTION 9. Performance Units

     (a) Grant. Performance Units may be granted to any Eligible Individual
either alone or in addition to other Awards granted under this Plan. The
Committee shall determine the Participants to whom and the time or times at
which Performance Units shall be awarded, subject to Section 3, the number of
Performance Units to be awarded to any Participant, the duration of the Award
Cycle and any other terms and conditions of the Award, in addition to those
contained in Section 9(c).

     (b) Award Agreements. Performance Units shall be evidenced by Award
Agreements, the terms and provisions of which may differ, as determined in the
discretion of the Committee. The grant of a Performance Unit shall occur on the
date the Committee by resolution selects a Participant to receive a grant of a
Performance Unit, determines the number of shares of Common Stock to be subject
to such Performance Unit to be granted to such Participant and specifies the
terms and provisions of the Performance Unit. The Company shall notify a
Participant of any grant of a Performance Unit, and a written Award Agreement
shall be duly executed and delivered by the Company and the Participant. Such
agreement or agreements shall become effective upon execution by the Company and
the Participant.

     (c) Terms and Conditions. Performance Unit Awards shall be subject to the
following terms and conditions:

          (i) Performance Goals and Vesting. The Committee may, prior to or at
     the time of the grant, designate Performance Units as a Qualified
     Performance-Based Award, in which event it shall condition the settlement
     thereof upon the attainment of Performance Goals. The settlement of an
     Award of Performance Units not designated by the Committee as a Qualified
     Performance-Based Award, may also be conditioned upon the attainment of
     Performance Goals. Regardless of whether Performance Units are Qualified
     Performance-Based Awards, the Committee may condition the settlement
     thereof upon the continued service of the Participant. The provisions of
     such Awards (including without limitation any applicable Performance Goals)
     need not be the same with respect to each Participant.

          (ii) Settlement. At the expiration of the Award Cycle for an Award of
     Performance Units, the Committee shall evaluate the Company's performance
     in light of any Performance Goals for such Award, and shall determine the
     number of Performance Units granted to the Participant which have been
     earned, and the Committee shall then cause to be delivered (A) a number of
     shares of Common Stock equal to the number of Performance Units determined
     by the Committee to have been earned or (B) cash equal to the Fair Market
     Value on such expiration date of such number of shares of Common Stock to
     the Participant, as the Committee shall elect. The payment with respect to
     the Performance Units shall be made as soon as administratively feasible
     following the time that such Performance Units become vested, but in no
     event later than March 15th of the calendar year immediately following the
     calendar year in which the such Performance Units become vested.

          (iii) Nontransferability. Subject to the provisions of this Plan and
     the Award Agreement, Performance Units may not be sold, assigned,
     transferred, pledged or otherwise encumbered during the Award Cycle.

                                       12

<PAGE>

          (iv) Termination. Except to the extent otherwise provided in this Plan
     and the applicable Award Agreement, upon a Participant's Termination of
     Employment for any reason during the Award Cycle or prior to the
     satisfaction of any applicable Performance Goals, all rights to receive
     cash or Common Stock in settlement of the Performance Units shall be
     forfeited by the Participant; provided, however, that the Committee shall
     have the discretion to waive, in whole or in part, any or all remaining
     payment limitations (other than, in the case of Qualified Performance-Based
     Awards of Performance Units granted to a Covered Employee, satisfaction of
     the applicable Performance Goals unless the Participant's employment is
     terminated by reason of death or Disability or by the Company without Cause
     or by the Participant for Good Reason).

          (v) Acceleration. Notwithstanding anything in this Section 9 to the
     contrary, any or all remaining payment limitations with respect to
     Performance Units shall be waived to the extent required by a Participant's
     Individual Agreement; provided, however, that, in the case of a Qualified
     Performance-Based Award of Performance Units granted to a Covered Employee,
     satisfaction of the applicable Performance Goals may not be waived pursuant
     to the Participant's Individual Agreement unless such Individual Agreement
     provides for such acceleration upon a change of control, death, Disability
     or the termination of a Participant's employment by the Company without
     Cause or by the Participant for Good Reason.

SECTION 10. Other Stock-Based Awards

     Other Awards of Common Stock and other Awards that are valued in whole or
in part by reference to, or are otherwise based upon, Common Stock, including
(without limitation) dividend equivalents and convertible debentures, may be
granted either alone or in conjunction with other Awards granted under this
Plan.

SECTION 11. Change in Control Provisions

     (a) The Committee, in its discretion, may determine that upon the
occurrence of a Change in Control, each Award, other than a Stock Option
outstanding hereunder, shall terminate within a specified number of days after
notice to the Participant, and such Participant shall receive, with respect to
each share of Common Stock subject to such Award, cash in an amount equal to the
excess, if any, of the Change in Control Price over the exercise price or Strike
Price. Further, in the event of a Change in Control, the Committee, in its
discretion, but only if a Participant's Award Agreement or Individual Agreement
does not provide otherwise, shall act to effect one or more of the following
alternatives with respect to outstanding Stock Options, which may vary among
individual Participants and which may vary among Stock Options held by any
individual Participant: (1) determine a limited period of time for the exercise
of such Stock Options in a manner determined by the Committee (notwithstanding
the provisions set forth in Section 5 with respect to the exercise of such Stock
Options) on or before a specified date (before or after such Change in Control)
after which specified date all unexercised Stock Options and all rights of
Participants thereunder shall terminate, (2) require the mandatory surrender to
the Company by selected Participants of some or all of the outstanding Stock
Options held by such Participants (irrespective of whether such Stock Options
are then exercisable under the provisions of this Plan) as of a date (before or
after such Change in Control) specified by the Committee, in which event the
Committee shall thereupon cancel such Stock Options and the Company shall pay to
each Participant an amount of cash and other consideration, as determined by the
Committee in its sole discretion, where the total cash and other consideration
paid or delivered per share is equal to the excess, if any, of the Change in
Control Price of the shares subject to such Stock Option over the Option
Price(s) under such Stock Options for such shares, (3) make such adjustments to
Stock Options then outstanding as the Committee deems appropriate to reflect
such Change in Control (provided, however, that the Committee may determine in
its sole discretion that no adjustment is necessary to Stock Options then
outstanding) or (4) provide that thereafter, upon any exercise of a Stock Option
theretofore granted, the Participant shall be entitled to purchase under such
Stock Option, in lieu of the number of shares of Common Stock then covered by
such Stock Option, the number and class of shares of stock or other securities
or property (including, without limitation, cash) to which the Participant would
have been entitled pursuant to the terms of the agreement of merger,
consolidation or sale of assets or other agreement governing such transaction
if, immediately prior to such merger, consolidation or sale of assets or other
transaction, the Participant had been the holder of record of the number of
shares of Common Stock then covered by such Stock Option. The provisions
contained in this paragraph shall be inapplicable to an Award granted within six
(6) months before the occurrence of a Change in Control, but only if (i) the
Participant of such Award is subject to the reporting requirements of Section
16(a) of the Exchange Act and (ii) such provisions (even after preapproval by
the Compensation Committee or the Board pursuant to Rule 16b-3) would create a
matching transaction under Section 16(b) of the Exchange Act with respect to
such Participant. The provisions contained in this paragraph shall not alter any
rights or terminate any rights of the Participant to further payments pursuant
to any other agreement with the Company following a Change in Control.

                                       13

<PAGE>

     (b) For purposes of this Plan, a "Change in Control" shall mean the
happening of any of the following events: (i) a merger of the Company with
another entity, a consolidation involving the Company, or the sale of all or
substantially all of the assets of the Company to another entity if, in any such
case, (A) the holders of equity securities of the Company immediately prior to
such transaction or event do not beneficially own immediately after such
transaction or event equity securities of the resulting entity entitled to 60%
or more of the votes then eligible to be cast in the election of directors
generally (or comparable governing body) of the resulting entity in
substantially the same proportions that they owned the equity securities of the
Company immediately prior to such transaction or event or (B) the persons who
were members of the Board immediately prior to such transaction or event shall
not constitute at least a majority of the board of directors of the resulting
entity immediately after such transaction or event, (ii) the dissolution or
liquidation of the Company, (iii) when any person or entity, including a "group"
as contemplated by Section 13(d)(3) of the Exchange Act, as amended, acquires or
gains ownership or control (including, without limitation, power to vote) of
more than 50% of the combined voting power of the outstanding securities of, (A)
if the Company has not engaged in a merger or consolidation, the Company, or (B)
if the Company has engaged in a merger or consolidation, the resulting entity,
or (iv) as a result of or in connection with a contested election of directors,
the persons who were members of the Board immediately before such election shall
cease to constitute a majority of the Board. For purposes of the preceding
sentence, (1) "resulting entity" in the context of a transaction or event that
is a merger, consolidation or sale of all or substantially all assets shall mean
the surviving entity (or acquiring entity in the case of an asset sale) unless
the surviving entity (or acquiring entity in the case of an asset sale) is a
subsidiary of another entity and the holders of common stock of the Company
receive capital stock of such other entity in such transaction or event, in
which event the resulting entity shall be such other entity, and (2) subsequent
to the consummation of a merger or consolidation that does not constitute a
Change in Control, the term "the Company" shall refer to the resulting entity
and the term "Board" shall refer to the board of directors (or comparable
governing body) of the resulting entity. Notwithstanding anything to the
contrary, only to the extent that an Award is subject to Section 409A of the
Code, a "Change in Control" shall only occur to the extent that the definition
of "Change in Control" set forth above may be interpreted to be consistent with
Section 409A(a)(2)(A)(v) of the Code and the applicable Internal Revenue Service
and Treasury Department regulations thereunder.

     (c) For purposes of this Plan, "Change in Control Price" means the (i) the
per share price offered to shareholders of the Company in any such merger,
consolidation, sale of assets or dissolution transaction, (ii) the price per
share offered to shareholders of the Company in any tender offer or exchange
offer whereby a Change in Control takes place or (iii) if such Change in Control
occurs other than pursuant to a tender or exchange offer, the fair market value
per share of the shares into which such Stock Options being surrendered are
exercisable, as determined by the Committee as of the date determined by the
Committee to be the date of cancellation and surrender of such Stock Options. To
the extent that the consideration paid in any such transaction described above
consists all or in part of securities or other noncash consideration, the value
of such securities or other noncash consideration shall be determined in the
sole discretion of the Board.

SECTION 12. Forfeiture of Awards

     Notwithstanding anything in this Plan to the contrary, the Committee shall
have the authority under this Plan to provide in any Award Agreement that in the
event of serious misconduct by a Participant (including, without limitation, any
misconduct prejudicial to or in conflict with the Company or its Subsidiaries or
Affiliates, or any Termination of Employment for Cause), or any activity of a
Participant in competition with the business of the Company or any Subsidiary or
Affiliate, any outstanding Award granted to such Participant shall be cancelled,
in whole or in part, whether or not vested or deferred. The determination of
whether a Participant has engaged in a serious breach of conduct or any activity
in competition with the business of the Company or any Subsidiary or Affiliate
shall be determined by the Committee in good faith and in its sole discretion.
This Section 12 shall have no application following a Change in Control with
respect to Awards that are outstanding immediately prior to a Change in Control.

SECTION 13. Term, Amendment and Termination

     This Plan will commence on the Effective Date and terminate on the tenth
anniversary of the Effective Date. No Awards outstanding as of the date of
termination this Plan shall be affected or impaired by the termination hereof.

     The Board may amend, alter, or discontinue this Plan, but no amendment,
alteration or discontinuation shall be made which would impair the rights of a
Participant under any Award theretofore granted without the Participant's
consent, except such an amendment made to comply with applicable law (including
Section 409A of the Code), stock exchange rules or accounting rules. In
addition, no such amendment shall be made without the approval of the Company's
shareholders to the extent such approval is required by applicable law or stock
exchange rules or to comply with Section 162(m) of the Code.

                                       14

<PAGE>

     The Committee may amend the terms of any Stock Option or other Award
theretofore granted, prospectively or retroactively, but no such amendment shall
impair the rights of any holder without the holder's consent except such an
amendment made to cause this Plan or Award to comply with applicable law
(including Section 409A of the Code), stock exchange rules or accounting rules.

     Subject to the above provisions, the Board shall have authority to amend
this Plan to take into account changes in law and tax and accounting rules as
well as other developments, and to grant Awards which qualify for beneficial
treatment under such rules without shareholder approval.

SECTION 14. Unfunded Status of Plan

     It is presently intended that this Plan constitute an "unfunded" plan for
incentive and deferred compensation. The Committee may authorize the creation of
trusts or other arrangements to meet the obligations created under this Plan to
deliver Common Stock or make payments; provided, however, that unless the
Committee otherwise determines, the existence of such trusts or other
arrangements is consistent with the "unfunded" status of this Plan.

SECTION 15. General Provisions

     (a) Representation. The Committee may require each person purchasing or
receiving shares pursuant to an Award to represent to and agree with the Company
in writing that such person is acquiring the shares without a view to the
distribution thereof. The certificates for such shares may include any legend
the Committee deems appropriate to reflect any restrictions on transfer.
Notwithstanding any other provision of this Plan or agreements made pursuant
thereto, the Company shall not be required to issue or deliver any certificate
or certificates for shares of Common Stock under this Plan prior to fulfillment
of all of the following conditions:

          (i) Listing or approval for listing upon notice of issuance, of such
     shares on the NYSE, or such other securities exchange as may at the time be
     the principal market for the Common Stock;

          (ii) Any registration or other qualification of such shares of the
     Company under any state or federal law or regulation, or the maintaining in
     effect of any such registration or other qualification which the Committee
     shall, in its absolute discretion upon the advice of counsel, deem
     necessary or advisable; and

          (iii) Obtaining any other consent, approval or permit from any state
     or federal governmental agency which the Committee shall, in its absolute
     discretion after receiving the advice of counsel, determine to be necessary
     or advisable.

     (b) No Limit of Other Arrangements. Nothing contained in this Plan shall
prevent the Company or any Subsidiary or Affiliate from adopting other or
additional compensation arrangements for its employees.

     (c) No Contract of Employment. Neither this Plan nor any Award shall
constitute a contract of employment. Neither the adoption of this Plan nor the
grant of an Award shall confer upon any employee any right to continued
employment, nor shall either interfere in any way with the right of the Company
or any Subsidiary or Affiliate to terminate the employment of any employee at
any time.

     (d) Tax Withholding. No later than the date as of which an amount first
becomes includible in the gross income of a Participant for federal income tax
purposes with respect to any Award under this Plan, such Participant shall pay
to the Company, or make arrangements satisfactory to the Company regarding the
payment of, any federal, state, local or foreign taxes of any kind required by
law to be withheld with respect to such amount. The Company, in its sole
discretion, may permit withholding obligations to be settled with Common Stock,
including Common Stock that is part of the Award that gives rise to the
withholding requirement; provided, however, that not more than the legally
required minimum withholding may be settled with Common Stock. The obligations
of the Company under this Plan shall be conditional on such payment or
arrangements, and the Company and its Subsidiaries and Affiliates shall, to the
extent permitted by law, have the right to deduct any such taxes from any
payment otherwise due to the Participant. The Committee may establish such
procedures as it deems appropriate, including making irrevocable elections, for
the settlement of withholding obligations with Common Stock.

     (e) Dividends. Reinvestment of dividends in additional Restricted Stock at
the time of any dividend payment shall only be permissible if approved by the
Committee and if sufficient shares of Common Stock are available under Section 3
for such reinvestment (taking into account then outstanding Stock Options and
other Awards).

                                       15

<PAGE>

     (f) Death Beneficiary. The Committee shall establish such procedures as it
deems appropriate for a Participant to designate a beneficiary to whom any
amounts payable in the event of the Participant's death are to be paid or by
whom any rights of the Participant, after the Participant's death, may be
exercised.

     (g) Subsidiary Employees. In the case of a grant of an Award to any
employee of a Subsidiary of the Company, the Company may, in the Committee's
sole discretion, issue or transfer the shares of Common Stock, if any, covered
by such Award to the Participant directly or to the Subsidiary, for such lawful
consideration as the Committee may specify, upon the condition or understanding
that the Subsidiary will transfer the shares of Common Stock to the employee in
accordance with the terms of such Award specified by the Committee pursuant to
the provisions of this Plan. All shares of Common Stock underlying Awards that
are forfeited or canceled shall revert to the Company.

     (h) Governing Law. This Plan, each Award Agreement and all Awards made and
actions taken hereunder and thereunder shall be governed by and construed in
accordance with the laws of the State of Texas, without reference to principles
of conflict of laws.

     (i) Nontransferability. Except as otherwise provided in this Plan or by the
Committee, Awards under this Plan are not transferable except by will or by laws
of descent and distribution.

     (j) Code Section 409A. It is intended that any grant of an Award to which
Section 409A of the Code is applicable shall satisfy all of the requirements of
such Code section to the extent necessary.

     (k) 1997 Plan. As of the Effective Date of this Plan, no further awards may
be granted under the W-H Energy Services, Inc. 1997 Stock Option Plan, as
amended, ("1997 Plan"), but all outstanding awards under the 1997 Plan shall
remain in effect in accordance with the terms of the 1997 Plan and the
respective award agreements.

SECTION 16. Effective Date of Plan

     This Plan shall be effective automatically on the date (the "Effective
Date") that the later of the following occurs: (i) adoption and approval of this
Plan by the Board and (ii) approval of this Plan by the shareholders of the
Company in accordance with all applicable laws, regulations and stock exchange
rules and listing standards.

                                       16<PAGE>
                                                                    EXHIBIT 10.2

                            W-H ENERGY SERVICES, INC.

                   NON-QUALIFIED STOCK OPTION AWARD AGREEMENT
                                 PURSUANT TO THE
                W-H ENERGY SERVICES, INC. 2006 STOCK AWARDS PLAN

         THIS AGREEMENT (this "Agreement") is made effective as of ___________
(the "Grant Date") between W-H Energy Services, Inc., a Texas corporation (the
"Company"), and __________ (the "Participant").

                                 R E C I T A L :

         WHEREAS, the Company desires to grant to the Participant an option to
purchase shares of the Company's common stock, $0.0001 par value per share (the
"Common Stock"), under the Company's 2006 Stock Awards Plan (the "Plan"), which
has been approved by its shareholders.

         NOW THEREFORE, in consideration of the mutual covenants set forth
herein, the parties agree as follows:

                               A G R E E M E N T :

         1. Grant of Option. Subject to the terms and conditions set forth in
this Agreement and the Plan, the Company hereby grants to the Participant an
Award consisting of the right and option ("Option"), exercisable on or prior to
_________, 20___ (the "Termination Date"), to purchase all or any part of an
aggregate of ________ shares of the Company's Common Stock, subject to
adjustment as set forth in Sections 3(d) and 3(e) of the Plan. Any capitalized
terms not defined herein shall have the same meaning as set forth in the Plan.
This Option is not an incentive stock option within the meaning of section
422(b) of the Internal Revenue Code of 1986, as amended (the "Code").

         2. Option Price. The purchase price of the Common Stock purchasable
upon the exercise of this Option shall be $________ per share (the "Option
Price"), such amount being no less than the Fair Market Value (as defined in the
Plan) of the Common Stock as of the Grant Date.

         3. Vesting and Exercise of Option.

         (a) No portion of this Option may be exercised until such portion
thereof has vested in accordance with this Section 3. Subject to the earlier
termination of this Option as herein provided and subject to the terms of the
Participant's Individual Agreement, portions of this Option may be exercised
from time to time and in whole or in part commencing at 12:00 a.m. on the
applicable Vesting Date set forth in the table below by delivering written
notice to the Company at its principal executive office (currently, located at
10370 Richmond, Suite 990, Houston, Texas 77042) addressed to the attention of
its Chief Financial Officer:

<PAGE>
<Table>
<Caption>
                Vesting Date                  Number of Shares Exercisable
                ------------                  ----------------------------
                <S>                           <C>
                ______, 200__                         ___________
                ______, 200__                         ___________
                ______, 200__                         ___________
                ______, 200__                         ___________
</Table>

         (b) If the Participant incurs a Termination of Employment by reason of
death or Disability, this Option may thereafter be exercised, but only to the
extent vested and exercisable on the date of such Termination of Employment, for
a period of one year from the date of such termination or until the Termination
Date, whichever period is shorter.

         (c) If the Participant incurs a Termination of Employment for Cause,
this Option shall thereupon terminate and shall not thereafter be exercisable,
even as to the portions thereof that were vested and exercisable on the date of
such Termination of Employment.

         (d) Except as otherwise provided in the Plan and Sections 3(b) and 3(c)
hereof, if the Participant undergoes a Termination of Employment, this Option
may be exercised for the lesser of three months from the date of such
Termination of Employment or until the Termination Date, but only to the extent
vested and exercisable on the date of such Termination of Employment; provided,
however, that if the Participant dies within such period, then the portion of
this Option that was vested and exercisable as of the date of the Termination of
Employment shall continue to be exercisable for a period of one year from the
date of such Termination of Employment until the Termination Date, whichever
period is shorter.

         (e) This Option shall terminate automatically and shall not be
exercisable following the Termination Date.

         (f) Except as provided in Paragraph 5, the purchase price of shares as
to which this Option is exercised shall be paid in full at the time of exercise
(a) in cash (including check, bank draft or money order payable to the order of
the Company), (b) by delivering to the Company certificates representing shares
of Common Stock theretofore owned by the Participant duly endorsed for transfer
to the Company, or (c) any combination of cash or of Common Stock. To the extent
permitted by applicable law, payment in full or in part may also be made by a
cashless exercise by delivering a properly executed exercise notice to the
Company, together with a copy of irrevocable instructions to a broker to deliver
promptly to the Company the amount of sale or loan proceeds necessary to pay the
Option Price, and, if requested by the Company, the amount of any federal,
state, local or foreign withholding taxes. No fraction of a share of Common
Stock shall be issued by the Company upon exercise of this Option or accepted by
the Company in payment of the purchase price thereof; rather, the Participant
shall provide a cash payment for such amount as is necessary to effect the
issuance and acceptance of only whole shares of Common Stock. Unless and until a
certificate or certificates representing such shares have been issued by the
Company to the Participant, the Participant (or the person permitted to exercise
this Option in the event of the Participant's death) shall not be or have any of
the rights or privileges

                                      -2-
<PAGE>
of a shareholder of the Company with respect to shares of Common Stock
acquirable upon exercise of this Option.

         (g) This Option is not transferable by the Participant otherwise than
by will or the laws of the descent and distribution or other testamentary
distribution, and may be exercised only by the Participant or the guardian or
legal representative of the Participant.

         4. Cashing Out of Option. On receipt of written notice of exercise, the
Committee may elect as to all or a portion of this Option then being exercised,
to pay the Participant an amount, in cash or Common Stock, equal to the excess
of the Fair Market Value of the Common Stock over the Option Price times the
number of shares of Common Stock for which this Option is being exercised on the
effective date of such cash-out.

         5. Withholding of Tax. To the extent that the exercise of this Option
or the disposition of shares of Common Stock acquired by exercise of this Option
results in the receipt of compensation income by the Participant for tax
purposes, the Participant shall deliver to the Company at the time of such
exercise or disposition such amount of money or shares of Common Stock as the
Company may require to meet its obligation under applicable tax laws or
regulations, and, if the Participant fails to do so, the Company is authorized
to withhold from any cash or remuneration then or thereafter payable to the
Participant any tax required to be withheld by reason of such resulting
compensation income. Upon an exercise of this Option, the Company is further
authorized in its discretion to satisfy any such withholding requirement out of
any cash or shares of Common Stock distributable to the Participant upon such
exercise.

         6. Successors and Assigns. This Agreement is intended to bind and inure
to the benefit of and be enforceable by the Participant, the Company and their
respective permitted successors and assigns (including personal representatives,
heirs and legatees), and is intended to bind all successors and assigns of the
respective parties, except that the Participant may not assign any of the
Participant's rights or obligations under this Agreement except to the extent
and in the manner expressly permitted hereby.

         7. Complete Agreement; Inconsistencies. This Agreement is subject to
the Plan. The terms and provisions of the Plan (including any subsequent
amendments thereto) are hereby incorporated herein by reference thereto. The
Committee shall have full authority to interpret and construe the terms of the
Plan, this Agreement and the Individual Agreement as it relates to the Plan. The
determination of the Committee as to any such matter of interpretation or
construction shall be final, conclusive and binding. The Plan, this Agreement
and those documents expressly referred to herein (including, without limitation,
any Individual Agreement) embody the complete agreement and understanding among
the parties and supersede and preempt any prior understandings, agreements or
representations by or among the parties, written or oral, which may have related
to the subject matter hereof in any way. In the event of any conflict between
the terms of the Plan and this Agreement, the terms of the Plan shall prevail.

         8. Counterparts. This Agreement may be executed in two counterparts
each of which shall be deemed an original and both of which together shall
constitute one and the same instrument. Any facsimile of this Agreement shall be
considered an original document.

                                      -3-
<PAGE>
         9. Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of Texas without giving effect to any
conflict of laws rule or principle that would refer the construction of this
Agreement to the laws of another jurisdiction.

         10. Employment or Service Relationship. Nothing contained herein shall
be construed as conferring upon Participant the right to continue in the employ
of the Company or its Subsidiaries or Affiliates or to continue service with the
Company or its Subsidiaries or Affiliates as a director or consultant, nor shall
anything contained herein be construed or interpreted to limit any "employment
at will" relationship between the Participant and the Company or its
Subsidiaries or Affiliates.

         11. Compliance With Laws. Upon the acquisition of any Shares pursuant
to this Agreement, the Participant (or the Participant's legal representative
upon the Participant's death or Disability) will enter into such written
representations, warranties and agreements as the Company may reasonably request
in order to comply with applicable laws or with this Agreement.

         12. Failure to Enforce Not a Waiver. The failure of the Company to
enforce at any time any provision of this Agreement shall in no way be construed
to be a waiver of such provision or of any other provision hereof.

         13. Notices. Every notice hereunder shall be in writing. All notices by
Participant to the Company shall be directed to the Company at its principal
executive office (currently, located at 10370 Richmond, Suite 990, Houston,
Texas 77042), Attention: Chief Financial Officer. Any notice given by the
Company to the Participant shall be directed to the Participant at the address
on file with the Company and shall be effective to bind the Participant and any
other person who shall acquire rights hereunder. The Company shall be under no
obligation whatsoever to advise the Participant of the existence, maturity or
termination of any of the Participant's rights hereunder and the Participant
shall be deemed to have familiarized himself or herself with all matters
contained herein and in the Plan which may affect any of the Participant's
rights or privileges hereunder.

         14. Amendments. Except to the extent provided otherwise in the Plan,
this Agreement may not be amended or modified without the prior written approval
of the Company and the Participant.

                                      -4-
<PAGE>
         IN WITNESS WHEREOF, this Agreement has been executed this ______ day of
_________________, 20___.

                                           W-H ENERGY SERVICES, INC.

                                           By:
                                                 -------------------------------
                                           Name:
                                                 -------------------------------
                                           Title:
                                                 -------------------------------

                                           PARTICIPANT

                                           -------------------------------------
                                           Name:
                                                --------------------------------

          Signature Page to Non-Qualified Stock Option Award Agreement

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