Document:

Change of Control Agreement - Julio M. Quintana

 Exhibit 10.12 
 CHANGE OF CONTROL AGREEMENT 
 MEMORANDUM OF AGREEMENT made effective as of the 1st day of September,
2004. 
 BETWEEN: 
 TESCO CORPORATION,

 a corporation incorporated under the laws of the Province of Alberta, in Canada 
 (hereinafter referred to as the “Corporation”) 
 OF THE FIRST PART

 - and - 
 JULIO QUINTANA,

 an individual residing 
 in
the City of Sugarland, in the State of Texas 
 (hereinafter referred to as the “Executive”) 
 OF THE SECOND PART 
 WHEREAS the Corporation
recognizes the valuable service that the Executive will provide to the Corporation and believes that it is reasonable and fair that the Executive receive appropriate treatment in the event of a Change of Control (as hereinafter defined); and

 WHEREAS the Corporation further recognizes that the Executive has acquired special skills relating to his extensive familiarity with the
business of the Corporation; and 
 WHEREAS in the event of a Change of Control, there is a possibility that the employment of the Executive
would be terminated without cause or adversely modified and the Executive has expressed concern in that regard to the Corporation; and 
 WHEREAS the directors of the Corporation have undertaken consultation and received advice on current industry practice with respect to contracts of this nature; and 
 WHEREAS the directors of the Corporation have determined that it would be in the best interests of the Corporation in the circumstances of a potential
Change of Controlto induce the Executive to remain in the employ of the Corporation by providing that in the event of a Change of Control, the Executive would have certain automatic and guaranteed rights; and 
 WHEREAS the Corporation and the Executive wish formally to agree to the terms and conditions which will govern the termination or modification of the
employment of the Executive in the event of a Change of Control; 
 NOW THEREFORE in consideration for the premises hereof and of the mutual
covenants and agreements hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties, the parties hereby agree as follows: 

 ARTICLE 1 
 RECITALS 
 The parties agree, and represent and warrant to each other, that the above recitals are true and
accurate. 
 ARTICLE 2 
 INTERPRETATION 
  

	2.01	The headings of the Articles and Sections herein are inserted for convenience of reference only and shall not affect the meaning or construction hereof. 

  

	2.02	This Agreement shall be construed and interpreted in accordance with the laws of the Province of Alberta and the federal laws of Canada applicable therein. Each of the parties
hereby irrevocably attorns to the jurisdiction of the courts of the Province of Alberta with respect to any matters arising out of this Agreement. 

  

	2.03	If any provision contained herein is determined to be void or unenforceable in whole or in part, it shall not be deemed to affect or impair the validity of any other provision
herein and it shall be deemed to be severed from this Agreement without affecting the enforceability or validity of the remaining provisions of this Agreement. Each provision is deemed to be separate and distinct and all provisions, Articles,
Sections and paragraphs of this Agreement are intended to be so severable. 

  

	2.04	For the purposes of this Agreement, the following terms shall have the following meanings, respectively: 

  

	 	(a)	“Annual Salary” means the base annual salary received by the Executive during the year in which the Change of Control occurs plus any bonus that would be earned for
such year based upon such annual salary, provided that the bonus for such year shall be calculated assuming that 100% of any target for earning maximum bonus is achieved for the relevant year; 

  

	 	(b)	“Change of Control” means: 

  

	 	(i)	the acceptance by the holders of shares of the Corporation, representing in the aggregate more than 35% of the issued and outstanding common shares of the Corporation, of any offer,
whether by way of a take-over bid or otherwise, for all or any of the shares of the Corporation; or 

  

	 	(ii)	the acquisition hereafter, by whatever means, of ownership or control of more than 35% in the aggregate of the issued and outstanding common shares of the Corporation by any
companies and/or individuals acting in concert (any or all of the aforesaid hereinafter referred to as the control group); or 

  

	 	(iii)	 the acquisition of ownership or control of less than 35% in the aggregate of the issued and outstanding common shares of the Corporation by any companies and/or
individuals acting in concert whereby the voting of such shares allows and does result in the election by such companies and/or 

	 	 
individuals of a majority of the directors of the Corporation or the assumption by such companies and/or individuals of the effective management of the
Corporation; 

  

	 	(iv)	the making of any agreement by the Corporation to merge, consolidate or amalgamate, which causes the Corporation to be absorbed into another company; or 

  

	 	(v)	he sale by the Corporation of all or substantially all of the assets of the Corporation (other than to a wholly-owned subsidiary of the Corporation); 

  

	 	(c)	“Date of Termination” shall mean the date of termination of the Executive’s employment; 

  

	 	(d)	“Disability” means any physical or mental incapacity, disease or affliction as determined by a legally qualified medical practitioner selected by the Corporation,
which prevents the Executive to a substantial degree from performing his obligations; 

  

	 	(e)	“Good Reason” shall include, without limitation, the occurrence within one year after the occurrence of a Change of Control of any of the following without the
Executive’s written consent (except in connection with the termination of the employment of the Executive for Just Cause or Disability): 

  

	 	(i)	a change which reduces the Executive’s responsibilities in effect immediately prior to the Change of Control; or 

  

	 	(ii)	a reduction by the Corporation of the Executive’s base annual salary, benefits or any other form of remuneration or any change in the basis upon which the Executive's salary,
benefits or any other form of remuneration payable by the Corporation is determined and calculated; provided that base annual salary, benefits or such other remuneration may be reduced or the basis upon which they are calculated changed if the
aggregate compensation to be received by the Executive provides the same overall economic benefit to the Executive; 

  

	 	(iii)	the Corporation relocating the Executive to any place other than the location at which he performed his duties for the Corporation immediately prior to the Change of Control, except
for required travel on the Corporation’s business to an extent substantially consistent with the Executive’s obligations immediately prior to the Change of Control; or 

	 	(iv)	any failure by the Corporation to provide the Executive with the number of paid vacation days to which he was entitled immediately prior the Change of Control or the Corporation
failing to increase such paid vacation on a basis consistent with practices in effect immediately prior to the Change of Control or with practices implemented subsequent to the Change of Control with respect to the senior executives of the
Corporation, whichever is more favourable to the Executive; or 

  

	 	(v)	the failure by the Corporation to obtain, in a form satisfactory to the Executive, an effective assumption of its obligations under this Change of Control Agreement;

  

	 	(f)	“Just Cause” in connection with a termination by Employer, shall mean: 

 in connection with a termination by Employer, shall mean: (1) embezzlement or theft by Executive of any property of Employer; (2) any breach by Executive of any material provision of this Agreement;
(3) any act by Executive constituting a felony or otherwise involving theft, fraud, gross dishonesty, or moral turpitude; (4) negligence or willful misconduct on the part of Executive in the performance of his duties as an employee,
officer, or director of Employer; (5) Executive’s breach of his fiduciary obligations to Employer; or (6) any chemical dependence of the Executive which adversely affects the performance of his duties and responsibilities to Employer.

 ARTICLE 3 
 TERMINATION ON CHANGE OF CONTROL 
  

	3.01	If the Executive’s employment is terminated by the Corporation, other than for Just Cause in the manner provided for in paragraph 6(b) of Executive’s employment agreement,
Disability or death, within one year of the occurrence of one of the events set forth in Clause 2.4(b) of this Agreement, or if the Executive’s employment is terminated by the Executive for any reason at his sole discretion within 60 days of
the occurrence of any of the events set forth in Clause 2.4(b) of this Agreement or if the executive’s employment is terminated by the executive for Good Reason then: 

  

	 	(a)	the Corporation shall pay the Executive within 10 days after the Date of Termination (or within such other reasonable period to effect tax planning at the request of the Executive)
and to the extent permitted by law, a sum equal to: 

 Three (3) times the Annual Salary; 
  

	 	(b)	the Executive shall be reimbursed all expenses incurred by him prior to the Date of Termination; 

  

	 	(c)	the Corporation shall pay for the return of the Executive to his ordinary place of residence in the event that the Executive is residing elsewhere for the purpose of carrying out
his employment duties and provided that the Executive so returns within 90 days of the Date of Termination; 

	 	(d)	the Corporation shall continue to pay the appropriate premiums in respect of all rights and benefits under any life insurance, disability, medical and dental plans being provided by
the Corporation to the Executive at the Date of Termination, to the extent permitted by the terms of the applicable policy, for a period of 24 months from the Date of Termination or until the Executive secures alternative employment, whichever is
shorter. If the Executive’s participation in any such benefit plan is not permitted by the terms of the applicable policy, the Corporation shall arrange to provide the Executive with benefits substantially similar to those which the Executive
is entitled to receive under such benefit plan or to pay to the Executive such amount which, after the deduction of any income tax payable by the Executive in respect of such payment, would enable the Executive to purchase substantially similar
coverage on an individual basis during such period; and 

  

	 	(e)	all club memberships or similar perquisites held in the Corporation’s name for the Executive's benefit at the Date of Termination shall be transferred to the Executive at no
cost to the Executive and all related annual and other mandatory user fees which have been fully paid or pre-paid by the Corporation may be retained without reimbursement by the Executive. 

  

	3.02	Except as otherwise provided in Section 3.1, the benefits payable pursuant to this Article shall not be reduced in any respect in the event the Executive shall secure or shall
not reasonably pursue alternative employment following the termination of the Executive’s employment. 

 ARTICLE 4

 NO CHANGE TO EXISTING EMPLOYMENT RELATIONSHIP 
 Nothing in this Agreement shall alter the terms and conditions of the Executive’s employment with the Corporation except in the event of a Change of Control. Likewise, nothing in this Agreement shall have any
impact upon the Executive’s entitlement to receive severance at common law absent a Change of Control. 
 ARTICLE 5 
 RELEASES AND PRE-PAYMENT OF DEBT 
 In order to
receive any payments pursuant to this Agreement, the Executive shall first be required to repay any amounts then due and owing by the Executive to the Corporation, and the Executive shall be required to execute a Release in a form satisfactory to
the Corporation which releases the Corporation of any claims which the Executive may have as against the Corporation with respect to the termination of the Executive’s employment. 

 ARTICLE 6 
 ACCELERATION OF OPTIONS 
 Notwithstanding the provision of any agreement to the contrary, in the event of a
Change of Control, the Corporation shall, subject to necessary regulatory approvals (which shall be vigorously pursued by the Corporation) cause all of the Executive's existing unvested stock options to be accelerated and vested immediately upon the
Change of Control. Further, any vested stock options which may be held in an escrow account will become immediately releasable to the Executive. 
 ARTICLE 7 
 STATUTORY DEDUCTIONS 
 The obligation of the Corporation to make any payment hereunder shall, in each case, be subject to any and all withholdings and deductions required by law to be made by the Corporation. 
 ARTICLE 8 
 GENERAL

  

	8.01	The Executive shall not be prohibited from obtaining re-employment of any type after his termination. 

  

	8.02	The Executive agrees that after termination of his employment by him, he will tender his resignation from any position he may hold as an officer or director of the Corporation or
any of its affiliated or associated companies. 

  

	8.03	If a Change of Control occurs, the Corporation agrees to pay, to the full extent permitted by law, all legal fees and expenses to a maximum of $50,000 which the Executive, the
Executive’s legal representatives or the Executive’s family may reasonably incur arising out of or in connection with any litigation concerning the validity or enforceability of any provision of this Agreement, or any action by the
Executive, the Executive’s legal representatives or the Executive’s family to enforce his or their rights under this Agreement regardless of the outcome of such litigation, and the Corporation agrees to pay interest, compounded quarterly,
on the total unpaid amount payable under this Agreement until such amount is fully paid, such interest to be calculated at a rate equal to 2% in excess of the prime commercial lending rate for Canadian dollar demand loans announced from time to time
by The Bank of Nova Scotia during the period of such nonpayment. 

  

	8.04	This Agreement shall enure to the benefit of and be binding upon the Executive and his heirs, executors and administrators and upon the Corporation and its successors and assigns.

  

	8.05	In the event of any inconsistency between this Agreement and the Amended and Restated Employment Agreement dated effective September 1, 2004 between the Executive and the
Corporation (the “Employment Agreement”) the terms of the Employment Agreement shall govern. 

	8.06	Nothing herein derogates from any rights the Executive may have under applicable law, except as set out in this paragraph. The parties agree that the rights, entitlements and
benefits set out here are to be paid to the Executive in full satisfaction of all rights of the Executive under the Employment Standards Code R.S.A. 1980 as am. or any successor legislation from time to time and/or the applicable common law
associated with wrongful termination claims. 

  

	8.07	Neither party can waive or shall be deemed to have waived any right set out in this Agreement except to the extent that such waiver is in writing. 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date and year first above written. 
  

			
	TESCO CORPORATION
		
	Per:	 	/s/ William S. Rice
		
	Per:	 	/s/ Robert C. Van Walleghem

  

									
		 		 	 SIGNED, SEALED AND DELIVERED
 in the presence
of:

			
	/s/ Julio M. Quintana	 		 	/s/ Roderick MacLean
	Julio Quintana	 		 	WitnessEmployment Agreement - Anthony Tripodo

 Exhibit 10.13 
 EMPLOYMENT AGREEMENT 
 This Employment Agreement (the “Agreement”) is executed January 5, 2007 between
Tesco Corporation, a corporation organized under the laws of the Province of Alberta, Canada (hereinafter referred to as “Employer” or the “Company”) and Anthony Tripodo (hereinafter referred to as “Executive”). The
Employer and Executive are collectively referred to herein as the “Parties,” and individually referred to as a “Party.” 
 RECITALS: 
 WHEREAS, Employer desires to employ Executive on a continuing basis; 
 WHEREAS, Executive desires to be employed by Employer pursuant to all of the terms and conditions hereinafter set forth; and 
 WHEREAS, Executive will have access to Employer’s Confidential Information as a result of his employment with Employer. 
 NOW, THEREFORE, in consideration of the mutual covenants herein contained, it is AGREED as follows: 
 AGREEMENT: 
  

	1.	Purpose. The purpose of this Agreement is to formalize the terms and conditions of Executive’s employment with Employer. The recitals contained herein represent
both Parties’ intentions with respect to the terms and conditions covered and cannot be amended during the term of the Agreement except by written addendum to the Agreement signed by both Parties. 

  

	2.	Definitions. For the purposes of this Agreement, the following words shall have the following meanings: 

  

	 	(a)	“Cause,” in connection with a termination by Employer, shall mean: (1) embezzlement or theft by Executive of any property of Employer; (2) any breach by
Executive of any material provision of this Agreement; (3) any act by Executive constituting a felony or otherwise involving theft, fraud, gross dishonesty, or moral turpitude; (4) negligence or willful misconduct on the part of Executive
in the performance of his duties as an employee, officer, or director of Employer; (5) Executive’s breach of his fiduciary obligations to Employer; or (6) any chemical dependence of the Executive which adversely affects the
performance of his duties and responsibilities to Employer. 

  

	 	(b)	“Change of Control” means: (1) the acceptance of a take-over offer by shareholders representing thirty-five percent (35%) of the issued and outstanding
Common Shares; (b) the acquisition by any company(ies) or individual(s) of more than thirty-five percent (35%) of the issued and outstanding Common Shares; (c) the acquisition by any company(ies) or individual(s) of less than
thirty-five percent (35%) of the issued and outstanding Common Shares which nevertheless results in the ability of such company(ies) or individual(s) to elect a majority of the directors of the Corporation or affect management of the
Corporation; (d) the merger, consolidation or amalgamation of the Corporation with another entity; or (e) the sale of all or substantially all of the assets of the Corporation. 

  

	 	(c)	“Common Shares” means common shares of the Company, or any successor security issued in lieu therefore. 

  

	 	(d)	“Confidential Information” means information (1) disclosed to or known by Executive as a consequence of or through his employment with Employer; (2) not
generally known outside Employer; and (3) for which Employer takes steps to protect and describe as confidential; and (4) which relates to any aspect of Employer or its business, research, or development. “Confidential Information:
includes, but is not limited to, Employer’s trade secrets, proprietary information, business plans, marketing plans, financial information, compensation and benefit information, cost and pricing information, customer contacts, suppliers,
vendors, and information provided to Employer by a third Party under restrictions against disclosure or use by Employer or others. 

  

			
	EMPLOYMENT AGREEMENT	  	Page 1

	 	(e)	“Conflict of Interest” means any activity which might adversely affect Employer or its affiliates, including ownership of a material interest in any supplier,
contractor, distributor, subcontractor, customer, or other entity with which Employer does business. 

  

	 	(f)	“Copyright Works” are materials for which copyright protection may be obtained including, but not limited to: literary works (including all written material),
computer programs, artistic and graphic works (including designs, graphs, drawings, blueprints, and other works), recordings, models, photographs, slides, motion pictures, and audio-visual works, regardless of the form or manner in which documented
or recorded. 

  

	 	(g)	“Company” or “Employer” means Tesco Corporation. 

  

	 	(h)	“Good Reason,” in connection with a termination by Executive, shall occur when the Employer, without Cause, (1) implements a material adverse change in the
overall level of the responsibilities and/or duties of the Executive; (2) reduces Executive’s base compensation, with the base compensation meaning the Executive’s salary, benefits and Long Term Incentive Plan award;
(3) implements a material adverse change in the terms of Executive’s Short Term Incentive Plan award for calendar years beginning subsequent to the Effective Date, unless offset by an increase in other compensation; (4) requires that
Executive change his primary work location by more than fifty (50) miles or; (5) creates a material breach of this Agreement by the Employer that continues for more than thirty (30) days after Executive gives written notice to the
Employer regarding such breach. 

  

	 	(i)	“Inventions” means inventions (whether patentable or not), discoveries, improvements, designs, and ideas (whether or not shown or described in writing or reduced to
practice) including, and in addition to any such Confidential Information or Copyright Works. 

  

	3.	Duration. The relationship of employment established by this Agreement shall become effective on January 8, 2007 (the “Effective Date”), and continue
unless terminated as hereinafter provided. 

  

	4.	Duties and Responsibilities. Upon the Effective Date of employment under this Agreement, Executive shall diligently render his services to Employer as Executive Vice
President and Chief Financial Officer in accordance with Employer’s directives, and shall use his best efforts and good faith in accomplishing such directives. Executive agrees to devote his full-time efforts, abilities, and attention (defined
to mean not less than forty (40) hours per week) to the business of Employer, and shall not engage in any activities which will interfere with such efforts. Executive shall well and faithfully serve Employer during the continuance of his
employment hereunder and shall use his best efforts to promote the interests of Employer. Executive’s home office will be in Houston, Texas. Notwithstanding the forgoing, Executive’s appointment as an officer of Tesco Corporation is
subject to approval by the Board of Directors. 

  

	5.	Compensation and Benefits. In return for the services to be provided by Executive pursuant to this Agreement, Employer agrees to pay Executive as follows:

  

	 	(a)	Salary. Executive shall receive a base annual salary of two hundred sixty-five thousand U.S. dollars and no cents ($265,000.00 U.S.) payable in bi-weekly pay periods, subject
to deduction of statutorily required amounts and amounts payable by employees of Employer for employee benefits. The annual salary to be paid by Employer to Executive shall be reviewed at least annually and may from time to time be increased as
approved by the Employer’s Board of Directors or their designee. 

  

	 	(b)	Initial Stock Option Grant. Subject to approval of the Board of Directors, Employer shall grant Executive one hundred thousand (100,000) options to acquire Common
Shares, with an exercise price equal to the closing price of the Common Shares on the date prior to the date of the grant by the Board of Directors. Such options shall be granted under the existing Stock Option Plan of the Employer, a copy of which
plan has been provided to Executive; provided that all such options shall vest as follows: one-third (1/3) on each of first, second, and third anniversary dates of Executive’s employment with Employer and may be exercised over the next
seven (7) years. 

  

			
	EMPLOYMENT AGREEMENT	  	Page 2

	 	(c)	Short Term Incentive Plan. Executive shall be eligible to receive an annual Short Term Incentive Plan (“STIP”) bonus (prorated from the Effective Date for 2007).
The target STIP bonus is fifty percent (50%) of annual base salary. The maximum STIP bonus shall be one hundred percent (100%) of annual base salary. Fifty percent (50%) of the STIP bonus shall be based upon Employer’s financial
performance and fifty percent (50%) of the incentive is based on achievement of individual performance objectives. STIP bonuses for each calendar year shall be payable in January of the following year, or such later date as achievement of the
relevant performance objectives can reasonably be ascertained. 

  

	 	(d)	Long Term Incentive Plan. As a member of the Executive Management Team, Executive shall participate annually beginning in 2008 in Employer’s Long Term Incentive Plan
(“LTIP”) on terms approved by the Board of Directors. The LTIP is developed in coordination with the Compensation Committee of the Board of Directors, and is reviewed annually. The LTIP may include stock options, restricted stock, stock
performance units and/or other types of compensation. 

  

	 	(e)	Legal Expenses. Employer shall pay Executive’s reasonable attorneys’ fees incurred in negotiating and finalizing this Agreement. 

  

	 	(f)	Benefits. Executive shall be entitled to participate in Employer’s various employee benefit plans, including without limitation Employer’s 401(k) Plan and Employee
Stock Savings Plan, in the same manner as other senior management employees of Employer. 

  

	 	(g)	Expenses. Executive shall be reimbursed by Employer for all reasonable expenses incurred by the Executive in performance of his duties hereunder upon the submission of
vouchers, bills or receipts for such expenses. 

  

	 	(h)	Vacation. Executive will be provided four (4) weeks paid vacation in each calendar year, to be accrued at a rate of 1.66 days per month. 

  

	6.	Termination. 

  

	 	(a)	Death, Disability, Expiration of Agreement, or Resignation. Employer may terminate Executive’s employment upon his death, or if he is unable to perform the essential
functions of his position with reasonable accommodation for six (6) consecutive months, or for a total of six (6) months during any twelve (12) month period. 

  

	 	(b)	Termination for Cause. Employer also may terminate Executive’s employment immediately for “Cause.” Prior to terminating this Agreement for Cause, Employer must
give Executive thirty (30) days’ advance written notice of such intent and the grounds therefore, such that Executive has the opportunity to cure and/or rectify the alleged breach. Only if Executive does not cure the alleged breach at the
end of thirty (30) days may Employer terminate Executive for Cause. 

  

	 	(c)	Termination without Cause. Employer may terminate Executive’s employment without Cause upon fourteen (14) days’ written notice to Executive.

  

	 	(d)	Termination by Executive. Executive may terminate his employment upon fourteen (14) days’ written notice to Employer. In the event Executive terminates his
employment in this manner, he shall remain in Employer’s employ subject to all terms and conditions of this Agreement for the entire fourteen (14) day period unless instructed otherwise by Employer. 

  

	 	(e)	Termination by Executive for Good Reason. Executive may terminate his employment for “Good Reason” by giving Employer thirty (30) days advance written notice
of such intent and the grounds thereof. 

  

			
	EMPLOYMENT AGREEMENT	  	Page 3

	7.	Severance. Executive shall be entitled to the following compensation upon termination of his employment under the following circumstances: 

  

	 	(a)	Death, Disability, Expiration of Agreement, or Resignation. In the event Executive’s employment is terminated as a result of his death, disability, or Executive’s
voluntary resignation, Executive’s rights under any then-vested stock options or other compensation rights or awards shall be unaffected, but he shall not otherwise be entitled to receive any further compensation under this Agreement.

  

	 	(b)	Without Cause. In the event Executive’s employment with Employer is terminated without Cause, Executive shall be entitled to continue to receive salary payments, payable
on regularly scheduled pay days for twelve (12) months. No later than one year after the Effective Date, Employer’s Board of Directors shall consider increasing the amount of time Executive would receive severance payments under this
paragraph. 

  

	 	(c)	Termination by Executive for Good Reason. In the event that Executive terminates his employment with Employer for Good Reason, Executive shall be entitled to continue to
receive salary payments, payable on regularly scheduled pay days for twelve (12) months. 

  

	 	(d)	Change in Control. Employer and Executive shall enter into a Change of Control Agreement substantially in the form provided to the Executive and providing, without
limitation, that: (i) Executive shall be entitled to receive a lump sum payment equal to two (two) times his annual compensation (including salary and STIP bonus, and if STIP bonus has not yet been determined, target bonus) in the event the
Executive is terminated without cause within one (1) year before or after a Change of Control or elects to leave the employ of Employer (with or without Good Reason) within sixty (60) days after a Change of Control; and (ii) all
unvested stock options or LTIP awards held by Executive shall vest immediately upon a Change of Control. 

  

	 	(e)	No Duty to Mitigate. Executive shall not be required to mitigate the amount of any payment or other benefit required to be paid to Executive pursuant to this Agreement,
whether by seeking other employment or otherwise, nor shall the amount of any such payment or other benefit be reduced on account of any compensation earned by Executive as a result of employment by another person. Employer’s obligation to make
the payments provided for in this Agreement and otherwise perform its obligations hereunder shall not be affected by any setoff, counterclaim, recoupment, defense or other claim, right or action which Employer may have against Executive or others,
exclusive of payroll withholdings required by law. 

  

	8.	Inventions, Confidential Information, Patents, and Copyright Works. 

  

	 	(a)	Notification of Company. Upon conception, all Inventions, Confidential Information, and Copyright Works shall become the property of Employer (or the United States Government
where required by law) whether or not patent or copyright registration applications are filed for such subject matter. Executive will communicate to Employer promptly and fully all Inventions, or suggestions (whether or not patentable), all
Confidential Information or Copyright Works made, designed, created, or conceived by Executive (whether made, designed, created, or conceived solely by Executive or jointly with others) during the period of his employment with Employer:
(a) which relate to the actual or anticipated business, research, activities, or development of Employer at the time of the conception; or (b) which result from or are suggested by any work which Executive has done or may do for or on
behalf of Employer; or (c) which are developed, tested, improved, or investigated either in part or entirely on time for which Executive was paid by Employer, or using any resources of Employer. 

  

	 	(b)	 Transfer of Rights. Executive agrees, during his employment with Employer, to assign and transfer to Employer Executive’s entire right, title, and
interest in all Inventions, Confidential Information, Copyright Works and Patents prepared, made or conceived by or in behalf of Executive (solely or jointly with others): (a) which relate in any way to the actual or anticipated business of
Employer, or (b) which relate in any way to the actual or anticipated research or development of Employer, or (c) which are suggested by or result, directly or indirectly, from any task assigned to Executive or in which Executive otherwise
engages in behalf of Employer. Executive also agrees to do all things necessary to transfer to Employer Executive’s entire right, title, and interest in and to all such Inventions, Confidential Information, Copyright Works or Patents as
Employer may request, on such forms as 

  

			
	EMPLOYMENT AGREEMENT	  	Page 4

	 	 
Employer may provide, at any time during or after Executive’s employment. Executive will promptly and fully assist Employer during and subsequent to his
employment in every lawful way to obtain, protect, and enforce Employer’s patent, copyrights, trade secret or other proprietary rights for Inventions, Confidential Information, Copyright Works or Patents in any and all countries.

  

	 	(c)	Notice of Rights Under State Statutes. No provision in this Agreement is intended to require assignment of any of Executive’s rights in an Invention for which no
equipment, supplies, facilities, Confidential Information, Copyright Works, Inventions, Patents or information of Employer was used, and which was (1) developed entirely on Executive’s own time; (2) does not relate to the business of
Employer or to the actual or demonstrably anticipated research or development of Employer; and (3) does not result from any work performed by Executive for Employer or assigned to Executive by Employer. 

  

	 	(d)	Rights in Copyrights. Unless otherwise agreed in writing by Employer, all Copyright Works prepared wholly or partially by Executive (alone or jointly with others) within the
scope of his employment with Employer, shall be deemed a “work made for hire” under the copyright laws and shall be owned by Employer. Executive understands that any assignment or release of such works can only be made by Employer.
Executive will do everything reasonably necessary to enable Employer or its nominee to protect its rights in such works. Executive agrees to execute all documents and to do all things necessary to vest in Employer Executive’s right and title to
copyrights in such works. Executive shall not assist or work with any third Party that is not an employee of Employer to create or prepare any Copyright Works without the prior written consent of Employer. 

  

	 	(e)	Assistance in Preparation of Applications. Executive will promptly and fully assist, if requested by Employer, in the preparation and filing of Patents and Copyright
Registrations in any and all countries selected by Employer and will assign to Employer Executive’s entire right, title, and interest in and to such Patents and Copyright Registrations, as well as all Inventions or Copyright Works to which such
Patents and Copyright Registrations pertain, to enable any such properties to be prosecuted under the direction of Employer and to ensure that any Patent or Copyright Registration obtained will validly issue to Employer. 

  

	 	(f)	Execute Documents. Executive will promptly sign any and all lawful papers, take all lawful oaths, and do all lawful acts, including testifying, at the request of Employer, in
connection with the procurement, grant, enforcement, maintenance, exploitation, or defense against assertion of any patent, trademark, copyright, trade secret or related rights, including applications for protection or registration thereof. Such
lawful papers include, but are not limited to, any and all powers, assignments, affidavits, declarations and other papers deemed by Employer to be necessary or advisable. 

  

	 	(g)	Keep Records. Executive will keep and regularly maintain adequate and current written records of all Inventions, Confidential Information, and Copyright Works he participates
in creating, conceiving, developing, and manufacturing. Such records shall be kept and maintained in the form of notes, sketches, drawings, reports, or other documents relating thereto, bearing at least the date of preparation and the signatures or
name of each employee contributing to the subject matter reflected in the record. Such records shall be and shall remain the exclusive property of Employer and shall be available to Employer at all times. 

  

	 	(h)	Return of Documents, Equipment, Etc. All writings, records, and other documents and things comprising, containing, describing, discussing, explaining, or evidencing any
Inventions, Confidential Information, or Copyright Works and all equipment, components, parts, tools, and the like in Executive’s custody or possession that have been obtained or prepared in the course of Executive’s employment with
Employer shall be the exclusive property of Employer, shall not be copied and/or removed from the premises of Employer, except in pursuit of the business of Employer, and shall be delivered to Employer, without Executive retaining any copies, upon
notification of the termination of Executive’s employment or at any other time requested by Employer. Employer shall have the right to retain, access, and inspect all property of Executive of any kind in the office, work area, and on the
premises of Employer upon termination of Executive’s employment and at any time during employment by Employer, to ensure compliance with the terms of this Agreement. 

  

			
	EMPLOYMENT AGREEMENT	  	Page 5

	 	(i)	Other Contracts. Executive represents and warrants that he is not a Party to any existing contract relating to the granting or assignment to others of any interest in
Inventions, Confidential Information, Copyright Works or Patents hereafter made by Executive except insofar as copies of such contracts, if any, are attached to this Agreement. 

  

	 	(j)	Assignment After Termination. Executive recognizes that ideas, Inventions, Confidential Information, Copyright Works, Copyright Registrations or Patents relating to his
activities while working for Employer that are conceived or made by Executive, alone or with others, within one (1) year after termination of his employment may have been conceived in significant part while Executive was employed by Employer.
Accordingly, Executive agrees that such ideas, Inventions, Confidential Information, Copyright Works, Copyright Registrations or Patents shall be presumed to have been conceived and made during his employment with Employer and are to be assigned to
Employer. 

  

	 	(k)	Prior Conceptions. At the end of this paragraph, Executive has set forth what he represents and warrants to be a complete list of all Inventions, if any, patented or
unpatented, or Copyright Works, including a brief description thereof (without revealing any confidential or proprietary information of any other Party) which Executive participated in the conception, creation, development, or making of prior to his
employment with Employer and for which Executive claims full or partial ownership or other interest, or which are in the physical possession of a former employer and which are therefore excluded from the scope of this Agreement. If there are no such
exclusions from this Agreement, Executive has so indicated by writing “None” below in his own handwriting. 

 Prior Conceptions: 
 _______________________________________________________________ 
  

	9.	Non-Competition, Non-Solicitation, and Confidentiality. Employer and Executive acknowledge and agree that while Executive is employed pursuant to this Agreement, he
will have access to Confidential Information of Employer, will be provided with specialized training on how to perform his duties; and will be provided contact with Employer’s customers and potential customers. In consideration of all of the
foregoing, Employer and Executive agree as follows: 

  

	 	(a)	Non-Competition During Employment. Executive agrees that for the duration of this Agreement, he will not compete with Employer by engaging in the conception, design,
development, production, marketing, or servicing of any product or service that is substantially similar to the products or services which Employer provides, and that he will not work for, in any capacity, assist, or become affiliated with as an
owner, partner, etc., either directly or indirectly, any individual or business which offers or performs services, or offers or provides products substantially similar to the services and products provided by Employer. 

  

	 	(b)	Non-Competition After Employment. Executive agrees that for a period of one (1) year after termination of his employment with Employer for any reason, including
expiration of this Agreement, he will not compete with Employer in the United States or Canada by engaging in the conception, design, development, production, marketing, or servicing of any product or service that is substantially similar to the
products or services which Employer provides, and that he will not work for, in any capacity, assist, or become affiliated with as an owner, partner, etc., either directly or indirectly, any individual or business which offers or performs services,
or offers or provides products substantially similar to the services and products provided by Employer; provided that Executive may accept employment with a business which offers or performs services, or offers or provides products substantially
similar to the services and products provided by Employer if Executive is employed by a division, affiliate, or subsidiary that does not offer or perform services, or offer or provide products substantially similar to the services and products
provided by Employer and Executive understands and agrees that he cannot perform any services for the division, subsidiary, or affiliate which does compete with Employer. 

  

			
	EMPLOYMENT AGREEMENT	  	Page 6

	 	(c)	Conflicts of Interest. Executive agrees that for the duration of this Agreement, he will not engage, either directly or indirectly, in any Conflict of Interest, and that
Executive will promptly inform a corporate officer of Employer as to each offer received by Executive to engage in any such activity. Executive further agrees to disclose to Employer any other facts of which Executive becomes aware which might
involve or give rise to a Conflict of Interest or potential Conflict of Interest. 

  

	 	(d)	Non-Solicitation of Customers. Executive further agrees that for the duration of this Agreement, and for a period of one (1) year after the termination of this Agreement
for any reason, including expiration of the Agreement, he will not solicit or accept any business, for services or products substantially similar to the services or products offered by Employer, from any customer or client or prospective customer or
client with whom Executive personally dealt or solicited in the last twelve (12) months Executive was employed by Employer. 

  

	 	(e)	Non-Solicitation of Executives. Executive agrees that for the duration of this Agreement, and for a period of one (1) year after the termination of this Agreement for
any reason, including expiration of the Agreement, he will not either directly or indirectly, on his own behalf or on behalf of others, solicit, attempt to hire, or hire any person employed by Employer to work for Executive or for any other entity,
firm, corporation, or individual; provided however, that nothing in this paragraph shall prohibit a future employer of Executive from soliciting, attempting to hire, or hiring any person employed by Employer so long as Executive is not directly or
indirectly involved in the process including, but not limited to providing names of such employees to anyone for purposes of possible employment and/or directing such employees to contact anyone for purposes of possible employment.

  

	 	(f)	Confidential Information. Executive further agrees that he will not, except as Employer may otherwise consent or direct in writing, reveal or disclose, sell, use, lecture
upon, publish, or otherwise disclose to any third Party any Confidential Information or proprietary information of Employer, or authorize anyone else to do these things at any time either during or subsequent to his employment with Employer. This
section shall continue in full force and effect after termination of Executive’s employment and after the termination of this Agreement for any reason, including expiration of this Agreement. Executive’s obligations under this section of
this Agreement with respect to any specific Confidential Information and proprietary information shall cease when that specific portion of Confidential Information and proprietary information becomes publicly known, in its entirety and without
combining portions of such information obtained separately. It is understood that such Confidential Information and proprietary information of Employer include matters that Executive conceives or develops, as well as matters Executive learns from
other employees of Employer. 

  

	 	(g)	Prior Disclosure. Executive represents and warrants that he has not used or disclosed any Confidential Information he may have obtained from Employer prior to signing this
Agreement, in any way inconsistent with the provisions of this Agreement. 

  

	 	(h)	Confidential Information of Prior Employers. Executive will not disclose or use during the period of his employment with Employer any proprietary or confidential information
or copyright works, subject to a confidentiality agreement, which Executive may have acquired because of employment with an employer other than Employer. 

  

	 	(i)	Time Period Tolled. The time periods referenced in this Section 9 during which Executive is restrained from competing against Employer shall not include any
period of time during which Executive is in breach of this Agreement. Said time periods referenced in this paragraph will be tolled, such that Employer will receive the full benefit of the time period in the event Executive breaches this Agreement.

  

	 	(j)	Breach. Executive agrees that any breach of Sections 9(a), (b), (c), (d), (e) or (f) above cannot be remedied solely by money damages, and that in
addition to any other remedies Employer may have, Employer is entitled to obtain injunctive relief against Executive. Nothing herein, however, shall be construed as limiting Employer’s right to pursue any other available remedy at law or in
equity, including recovery of damages and termination of this Agreement. 

  

			
	EMPLOYMENT AGREEMENT	  	Page 7

	 	(k)	Independent Covenants. All covenants contained in Section 9 of this Agreement shall be construed as agreements independent of any other provision of this
Agreement, and the existence of any claim or cause of action by Executive against Employer, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by Employer of such covenants. 

 

	10.	Right to Enter Agreement. Executive represents and covenants to Employer that he has full power and authority to enter into this Agreement and that the execution of
this Agreement will not breach or constitute a default of any other agreement or contract to which he is a Party or by which he is bound. 

  

	11.	Assignment. This Agreement may be assigned by Employer, but cannot be assigned by Executive. An assignment of this Agreement by Employer shall not relieve Employer of
any liability or obligation under this Agreement. 

  

	12.	Binding Agreement. Executive understands that his obligations under this Agreement are binding upon Executive’s heirs, successors, personal representatives, and
legal representatives. 

  

	13.	Notices. All notices pursuant to this Agreement shall be in writing and sent certified mail, return receipt requested, addressed as follows: 

 

			
	 If to Executive:
	  	Mr. Anthony Tripodo
		  	35 Willowend Drive
		  	Houston, TX 77024
		
	 If to Employer:
	  	Tesco Corporation
		  	Attn: President and Chief Executive Officer
		  	3993 West Sam Houston Parkway North, Suite 100
		  	Houston, TX 77043-1211
		
	 With a copy to:
	  	Tesco Corporation
		  	Attn: General Counsel
		  	3993 West Sam Houston Parkway North, Suite 100
		  	Houston, TX 77043-1211

  

	14.	Waiver. No waiver by either Party to this Agreement of any right to enforce any term or condition of this Agreement, or of any breach hereof, shall be deemed a
waiver of such right in the future or of any other right or remedy available under this Agreement. 

  

	15.	Severability. If any provision of this Agreement is determined to be void, invalid, unenforceable, or against public policy, such provisions shall be deemed severable
from the Agreement, and the remaining provisions of the Agreement will remain unaffected and in full force and effect. Furthermore, any breach by Employer of any provision of this Agreement shall not excuse Executive’s compliance with the
requirements of Sections 8 or 9, to the extent they are otherwise enforceable. 

  

	16.	Arbitration. In the event any dispute arises out of Executive’s employment with Employer, or separation therefrom, which cannot be resolved by the Parties
to this Agreement, such dispute shall be submitted to final and binding arbitration. The arbitration shall be conducted in accordance with the American Arbitration Association (“AAA”). If the Parties cannot agree on an arbitrator, a list
of seven (7) arbitrators will be requested from AAA, and the arbitrator will be selected using alternate strikes with Executive striking first. The cost of the arbitration will be shared equally by Executive and Employer. Arbitration of such
disputes is mandatory and in lieu of any and all civil causes of action and lawsuits either Party may have against the other arising out of Executive’s employment with Employer, or separation therefrom; provided, however, that any claim
Employer has for breach of the covenants contained in Sections 8 and 9 of this Agreement shall not be subject to mandatory arbitration, and may be pursued in a court of law or equity. 

  

	17.	Entire Agreement. The terms and provisions contained herein shall constitute the entire agreement between the Parties with respect to Executive’s
employment with Employer during the time period covered by this Agreement. This Agreement replaces and supersedes any and all existing agreements entered into between Executive and Employer relating generally to the same subject matter, if any, and
shall be binding upon Executive’s heirs, executors, administrators, or other legal representatives or assigns. 

  

			
	EMPLOYMENT AGREEMENT	  	Page 8

	18.	Modification of Agreement. This Agreement may not be changed or modified or released or discharged or abandoned or otherwise terminated, in whole or in part, except by
an instrument in writing signed by Executive and an officer or other authorized executive of Employer. 

  

	19.	Understand Agreement. Executive represents and warrants that he has read and understood each and every provision of this Agreement, acknowledges that he has
obtained independent legal advice from attorneys of his choice, and confirms that Executive has freely and voluntarily entered into this Agreement. 

  

	20.	Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State of Texas. 

 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first written above. 
  

									
	EXECUTIVE	 		 	EMPLOYER
			
		 		 	TESCO CORPORATION
				
	/s/ Anthony Tripodo	 		 	By:	 	/s/ Julio Quintana
	Anthony Tripodo	 		 		 	 Julio Quintana
 President and Chief Executive
Officer

					
		 		 		 	By:	 	/s/ James A. Lank
		 		 		 		 	 James A. Lank
 General Counsel and Corporate
Secretary

  

			
	EMPLOYMENT AGREEMENT	  	Page 9

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