Document:

tesco1021.htm

Exhibit 10.21

SECOND AMENDMENT TO EMPLOYMENT AGREEMENT

 

WHEREAS, Julio M. Quintana (“Executive”) and Tesco Corporation entered into the Employment Agreement dated December 31, 2008 and as amended on March 15, 2009 (the “Agreement”); and

 

WHEREAS, Section 7(i)(v) of the Agreement has an error with respect to the timing of payment and no amount is vested thereunder and the parties desire to amend Section 7(f) of the Agreement to add requirements under new guidance from the Internal Revenue Service;

 

NOW, THEREFORE in consideration of mutual covenants herein contained, it is agreed that the Agreement shall be amended as follows:

 

	
1.  

	
Section 7(f) shall be amended to add the following at the end thereof:

 

“Notwithstanding anything herein to the contrary, to the extent any amounts payable under Sections 7(c), (d) or (e) are deferred compensation and not otherwise exempt from the requirements of Code Section 409A, no payment will be paid or commence to be paid hereunder until the date which is the 60th day after the Date of Termination.”

 

	
2.  

	
Section 7(i)(v) shall be amended so that the word “second” shall be replaced with the word “first” in each place in which it occurs.

 

This Second Amendment may be executed by portable document format (pdf) or facsimile signature which signature shall be binding on the parties hereto.

 

WHEREAS, the parties have executed this Second Amendment effective as of December 31, 2010.

 

EXECUTIVE                                                                                     TESCO CORPORATION

JULIO M. QUINTANA

/s/ Julio M. Quintana                                                                By: /s/ Norman W. Robertson 

Julio M. Quintana                                                                                     Norman W. Robertson

Chairman of the Board

  

1tesco1022.htm

Exhibit 10.22

SECOND AMENDMENT TO EMPLOYMENT AGREEMENT

 

WHEREAS, Robert L. Kayl (“Executive”) and Tesco Corporation entered into the Employment Agreement dated August 18, 2008 and as amended on March 15, 2009 (the “Agreement”); and

 

WHEREAS, Section 7(i)(v) of the Agreement has an error with respect to the timing of payment and no amount is vested thereunder and the parties desire to amend Section 7(f) of the Agreement to add requirements under new guidance from the Internal Revenue Service;

 

NOW, THEREFORE in consideration of mutual covenants herein contained, it is agreed that the Agreement shall be amended as follows:

 

	
1.  

	
Section 7(f) shall be amended to add the following at the end thereof:

 

“Notwithstanding anything herein to the contrary, to the extent any amounts payable under Sections 7(c), (d) or (e) are deferred compensation and not otherwise exempt from the requirements of Code Section 409A, no payment will be paid or commence to be paid hereunder until the date which is the 60th day after the Date of Termination.”

 

	
2.  

	
Section 7(i)(v) shall be amended so that the word “second” shall be replaced with the word “first” in each place in which it occurs.

 

This Second Amendment may be executed by portable document format (pdf) or facsimile signature which signature shall be binding on the parties hereto.

 

WHEREAS, the parties have executed this Second Amendment effective as of December 31, 2010.

 

EXECUTIVE                                                                                     TESCO CORPORATION

ROBERT L. KAYL

/s/ Robert L. Kayl                                                      By: /s/ Julio M. Quintana                                                      

Robert L. Kayl                                                                                     Julio M. Quintana

President and CEO

  

1tesco1023.htm

Exhibit 10.23

SECOND AMENDMENT TO EMPLOYMENT AGREEMENT

 

WHEREAS, Jeffrey L. Foster (“Executive”) and Tesco Corporation entered into the Employment Agreement dated December 31, 2007 and as amended on March 15, 2009 (the “Agreement”); and

 

WHEREAS, Section 7(i)(v) of the Agreement has an error with respect to the timing of payment and no amount is vested thereunder and the parties desire to amend Section 7(f) of the Agreement to add requirements under new guidance from the Internal Revenue Service;

 

NOW, THEREFORE in consideration of mutual covenants herein contained, it is agreed that the Agreement shall be amended as follows:

 

	
1.  

	
Section 7(f) shall be amended to add the following at the end thereof:

 

“Notwithstanding anything herein to the contrary, to the extent any amounts payable under Sections 7(c), (d) or (e) are deferred compensation and not otherwise exempt from the requirements of Code Section 409A, no payment will be paid or commence to be paid hereunder until the date which is the 60th day after the Date of Termination.”

 

	
2.  

	
Section 7(i)(v) shall be amended so that the word “second” shall be replaced with the word “first” in each place in which it occurs.

 

This Second Amendment may be executed by portable document format (pdf) or facsimile signature which signature shall be binding on the parties hereto.

 

WHEREAS, the parties have executed this Second Amendment effective as of December 31, 2010.

 

EXECUTIVE                                                                                     TESCO CORPORATION

JEFFREY L. FOSTER

/s/ Jeffrey L. Foster                                                      By: /s/ Julio M. Quintana                                                      

Jeffrey L. Foster                                                                                     Julio M. Quintana

President and CEO

  

1tesco1024.htm

Exhibit 10.24

FIRST AMENDMENT TO EMPLOYMENT AGREEMENT

 

WHEREAS, Dean Ferris (“Executive”) and Tesco Corporation entered into the Employment Agreement dated August 3, 2010 (the “Agreement”); and

 

WHEREAS, Section 7(i)(v) of the Agreement has an error with respect to the timing of payment and no amount is vested thereunder and the parties desire to amend Section 7(f) of the Agreement to add requirements under new guidance from the Internal Revenue Service;

 

NOW, THEREFORE in consideration of mutual covenants herein contained, it is agreed that the Agreement shall be amended as follows:

 

	
1.  

	
Section 7(f) shall be amended to add the following at the end thereof:

 

“Notwithstanding anything herein to the contrary, to the extent any amounts payable under Sections 7(c), (d) or (e) are deferred compensation and not otherwise exempt from the requirements of Code Section 409A, no payment will be paid or commence to be paid hereunder until the date which is the 60th day after the Date of Termination.”

 

	
2.  

	
Section 7(i)(v) shall be amended so that the word “second” shall be replaced with the word “first” in each place in which it occurs.

 

This First Amendment may be executed by portable document format (pdf) or facsimile signature which signature shall be binding on the parties hereto.

 

WHEREAS, the parties have executed this First Amendment effective as of December 31, 2010.

 

EXECUTIVE                                                                                     TESCO CORPORATION

DEAN FERRIS

/s/ Dean Ferris                                                                By: /s/ Julio M. Quintana 

Dean Ferris                                                                                     Julio M. Quintana

President and CEO

  

1tesco1025.htm

Exhibit 10.25

FIRST AMENDMENT TO EMPLOYMENT AGREEMENT

 

WHEREAS, Fernando Assing (“Executive”) and Tesco Corporation entered into the Employment Agreement dated May 11, 2009 (the “Agreement”); and

 

WHEREAS, Section 7(i)(v) of the Agreement has an error with respect to the timing of payment and no amount is vested thereunder and the parties desire to amend Section 7(f) of the Agreement to add requirements under new guidance from the Internal Revenue Service;

 

NOW, THEREFORE in consideration of mutual covenants herein contained, it is agreed that the Agreement shall be amended as follows:

 

	
1.  

	
Section 7(f) shall be amended to add the following at the end thereof:

 

“Notwithstanding anything herein to the contrary, to the extent any amounts payable under Sections 7(c), (d) or (e) are deferred compensation and not otherwise exempt from the requirements of Code Section 409A, no payment will be paid or commence to be paid hereunder until the date which is the 60th day after the Date of Termination.”

 

	
2.  

	
Section 7(i)(v) shall be amended so that the word “second” shall be replaced with the word “first” in each place in which it occurs.

 

This First Amendment may be executed by portable document format (pdf) or facsimile signature which signature shall be binding on the parties hereto.

 

WHEREAS, the parties have executed this First Amendment effective as of December 31, 2010.

 

EXECUTIVE                                                                                     TESCO CORPORATION

FERNANDO ASSING

/s/ Fernando Assing                                                      By: /s/ Julio M. Quintana                                                      

Fernando Assing                                                                                     Julio M. Quintana

President and CEO

  

1tesco1026.htm

Exhibit 10.26

AMENDMENT TO EMPLOYMENT AGREEMENT

 

WHEREAS, James A. Lank (“Executive”) and Tesco Corporation entered into the Employment Agreement dated December 31, 2007, as amended on March 15, 2009 and as thereafter supplemented by the letter dated July 19, 2010 between the parties (the “Agreement”); and

 

WHEREAS, Section 7(i)(v) of the Agreement has an error with respect to the timing of payment and no amount is vested thereunder and the parties desire to amend Section 7(f) of the Agreement to add requirements under new guidance from the Internal Revenue Service;

 

NOW, THEREFORE in consideration of mutual covenants herein contained, it is agreed that the Agreement shall be amended as follows:

 

	
1.  

	
Section 7(f) shall be amended to add the following at the end thereof:

 

“Notwithstanding anything herein to the contrary, to the extent any amounts payable under Sections 7(c), (d) or (e) are deferred compensation and not otherwise exempt from the requirements of Code Section 409A, no payment will be paid or commence to be paid hereunder until the date which is the 60th day after the Date of Termination.”

 

	
2.  

	
Section 7(i)(v) shall be amended so that the word “second” shall be replaced with the word “first” in each place in which it occurs.

 

This Amendment may be executed by portable document format (pdf) or facsimile signature which signature shall be binding on the parties hereto.

 

WHEREAS, the parties have executed this Amendment effective as of December 31, 2010.

 

EXECUTIVE                                                                                     TESCO CORPORATION

JAMES A. LANK

/s/ James A. Lank                                                      By: /s/ Julio M. Quintana                                                      

James A. Lank                                                                                                Julio M. Quintana

President and CEO

  

1

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