Document:

Document

Exhibit 10.13

Execution Version
AMENDMENT TO CORPORATE MASTER SERVICE AGREEMENT
    This Amendment to Corporate Master Services Agreement (this “Amendment”), dated as of April 12, 2022, is by and among CVR Services, LLC, a Delaware limited liability company (“Service Provider”), each of the entities listed on Schedule A attached hereto (each a “Service Recipient” and collectively the “Service Recipients”), and each of the entities listed on Schedule B attached hereto (each a “Joining Party”, and collectively, the “Joining Parties”).
WHEREAS, Service Provider and the Service Recipients entered into that certain Corporate Master Service Agreement, dated as of February 19, 2020, but effective as of January 1, 2020 (as amended, restated, amended and restated, extended, supplemented or otherwise modified from time to time, the “Corporate Master Service Agreement”); and
WHEREAS, Service Provider and the Service Recipients wish to amend to the Corporate Master Service Agreement to add the Joining Parties as Service Recipients thereunder;
NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged and agreed, the Parties hereto hereby agree as follows:
1.DEFINITIONS.  Service Provider, the Service Recipients and the Joining Parties are referred to herein collectively as the “Parties” and each, a “Party.”  Each capitalized term used herein but not otherwise defined shall have the meaning set forth in the Corporate Master Service Agreement.
2.AGREEMENT TO BE BOUND.  Each of the Joining Parties hereby agrees to be bound by all of the terms of the Corporate Master Service Agreement.  Each of the Joining Parties hereby acknowledges receipt of a copy of the Corporate Master Service Agreement and agrees to become a party thereto and to be bound thereby as a Service Recipient thereunder, and hereby assumes all of the rights and obligations related thereto as set forth in the Corporate Master Service Agreement.
3.AMENDMENT.  Pursuant to and in accordance with Section 16 (Modification and Amendment) of the Corporate Master Service Agreement, the Parties hereby amend and restate Section 16 (Modification and Amendment) of the Corporate Master Service Agreement in its entirety as follows:
“MODIFICATION AND AMENDMENT.  Service Provider may amend this Agreement to allow for the provision of Services to any Affiliate.  Upon executing and delivering an additional counterpart signature to this Agreement, such Affiliate shall be deemed to be a “Service Recipient” for all purposes hereunder, and shall be entitled to all corresponding benefits and be responsible for all obligations of a Service Recipient as provided for herein.  No action or consent by any Party, other than Service Provider, shall be required for an Affiliate to join this Agreement.”
4.GOVERNING LAW AND VENUE.  This Amendment shall be governed by and construed in accordance with the internal laws of the State of Texas, without regard to conflict of law principles (whether of the State of Texas or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Texas.  Each Party hereby submits to the exclusive jurisdiction of the state and federal courts in the State of Texas and to venue in Houston, Texas, and hereby waives any objection thereto.
5.COUNTERPARTS.  This Amendment may be executed in one or more counterparts, any one of which may be by facsimile, and all of which taken together shall constitute one and the same instrument.  The exchange of copies of this Amendment and of signature pages by electronic transmission, including by electronic mail in portable document format (“.pdf”), or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, or by a combination of such means, shall constitute effective execution and delivery of this Agreement as to the Parties and may be used in lieu of an original Agreement for all purposes.  Signatures of the Parties transmitted by facsimile or other electronic transmission shall be deemed to be original signatures for all purposes.

						
		

6.NOTICES.  All notices, offers, acceptances, waivers and other communications under this Amendment shall be in writing and shall be deemed to have been given and received (i) upon receipt when delivered by hand, (ii) upon transmission, if sent by electronic mail transmission (in each case with receipt verified by electronic confirmation), or (iii) one business day after being sent by overnight courier or express delivery service; provided, that in each case the notice or other communication is sent to the address, electronic mail address set forth beneath the name of such Party below (or to such other address or electronic mail address as such Party shall have specified in a written notice given to the other Parties hereto):
(a)If to Service Provider:
CVR Services, LLC
2277 Plaza Drive, Suite 500
Sugar Land, Texas 77479
Attention:  Chief Accounting Officer
Email:  jconaway@CVREnergy.com
With a copy to the Office of the General Counsel at the above address
Email:  LegalServices@CVREnergy.com
(b)If to any Service Recipient other than CVR Partners, LP or one of its subsidiaries:
Service Recipient
2277 Plaza Drive, Suite 500
Sugar Land, Texas 77479
Attention:  EVP & Chief Financial Officer
Email:  djneumann@CVREnergy.com
With a copy to the Office of the General Counsel at the above address
Email:  LegalServices@CVREnergy.com
(c)If to any Service Recipient that is CVR Partners, LP or one of its subsidiaries:
Service Recipient
2277 Plaza Drive, Suite 500
Sugar Land, Texas 77479
Attention:  President & Chief Executive Officer
Email:  mpytosh@CVREnergy.com
With a copy to the Office of the General Counsel at the above address
Email:  LegalServices@CVREnergy.com
(d)If to a Joining Party:
Joining Party
2277 Plaza Drive, Suite 500
Sugar Land, Texas 77479
Attention:  EVP & Chief Financial Officer
Email:  djneumann@CVREnergy.com
With a copy to the Office of the General Counsel at the above address
Email:  LegalServices@CVREnergy.com

7.MISCELLANEOUS.  The following Sections of the Corporate Master Service Agreement are incorporated herein by reference, mutatis mutandis, as if set forth fully herein: Section 7 (Confidentiality); Section 13 (Assignment); Section 14 (Entire Agreement); and Section 15 (No Third Party Beneficiaries).
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IN WITNESS WHEREOF, the Parties have executed this Amendment as of the date first written above.

CVR SERVICES, LLC
By:  __/s/ Jeffrey D. Conaway__________________
Name:  Jeffrey D. Conaway
Title:  Vice President - Chief Accounting Officer and Corporate Controller
Date:  April 12, 2022
WYNNEWOOD ENERGY COMPANY, LLC
By:  _/s/ Dane J. Neumann_____________________
Name:  Dane J. Neumann 
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary
Date:  April 12, 2022
WYNNEWOOD REFINING COMPANY, LLC
By:  _/s/ Dane J. Neumann_____________________
Name:  Dane J. Neumann 
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary 
Date:  April 12, 2022
COFFEYVILLE RESOURCES REFINING & MARKETING, LLC
By:  _/s/ Dane J. Neumann_____________________
Name:  Dane J. Neumann 
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary 
Date:  April 12, 2022
COFFEYVILLE RESOURCES CRUDE TRANSPORTATION, LLC
By:  _/s/ Dane J. Neumann_____________________
Name:  Dane J. Neumann 
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary 
Date:  April 12, 2022

Signature Page to Amendment to Corporate Master Service Agreement
									
			

COFFEYVILLE RESOURCES TERMINAL, LLC
By:  _/s/ Dane J. Neumann_____________________
Name:  Dane J. Neumann 
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary 
Date:  April 12, 2022
COFFEYVILLE RESOURCES PIPELINE, LLC
By:  _/s/ Dane J. Neumann_____________________
Name:  Dane J. Neumann 
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary 
Date:  April 12, 2022
CVR REFINING, LP
By:     CVR REFINING GP, LLC, its general partner

By:  _/s/ Dane J. Neumann_____________________
Name:  Dane J. Neumann 
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary     
Date:  April 12, 2022
CVR REFINING GP, LLC
By: _/s/ Dane J. Neumann______________________
Name:  Dane J. Neumann 
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary 
Date:  April 12, 2022
CVR REFINING, LLC
By:  _/s/ Dane J. Neumann_____________________
Name:  Dane J. Neumann 
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary 
Date:  April 12, 2022

Signature Page to Amendment to Corporate Master Service Agreement
									
			

COFFEYVILLE RESOURCES
NITROGEN FERTILIZERS, LLC
By:  /s/ Mark A. Pytosh__________________
Name:  Mark A. Pytosh
Title:  President & Chief Executive Officer
Date:  April 12, 2022
EAST DUBUQUE NITROGEN
FERTILIZERS, LLC
By:  /s/ Mark A. Pytosh__________________
Name:  Mark A. Pytosh
Title:  President & Chief Executive Officer
Date:  April 12, 2022
CVR NITROGEN HOLDINGS, LLC
By:  /s/ Mark A. Pytosh__________________
Name:  Mark A. Pytosh
Title:  President & Chief Executive Officer 
Date:  April 12, 2022
CVR NITROGEN GP, LLC
By: /s/ Mark A. Pytosh__________________
Name:  Mark A. Pytosh
Title:  President & Chief Executive Officer
Date:  April 12, 2022
CVR NITROGEN, LP
By:    CVR NITROGEN GP, LLC, its general partner
By:  /s/ Mark A. Pytosh__________________
Name:  Mark A. Pytosh
Title:  President & Chief Executive Officer
Date:  April 12, 2022

Signature Page to Amendment to Corporate Master Service Agreement
									
			

CVR NITROGEN FINANCE CORPORATION
By:  /s/ Mark A. Pytosh__________________
Name:  Mark A. Pytosh
Title:  President & Chief Executive Officer
Date:  April 12, 2022
CVR PARTNERS, LP
By:     CVR GP, LLC, its general partner
By:  /s/ Mark A. Pytosh__________________
Name:  Mark A. Pytosh
Title:  President & Chief Executive Officer
Date:  April 12, 2022
CVR GP, LLC
By:  /s/ Mark A. Pytosh__________________
Name:  Mark A. Pytosh
Title:  President & Chief Executive Officer
Date:  April 12, 2022
CVR ENERGY, INC.
By:  _/s/ Dane J. Neumann_____________________
Name:  Dane J. Neumann 
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary 
Date:  April 12, 2022
WYNNEWOOD INSURANCE CORPORATION
By:  /s/ Mark A. Pytosh__________________
Name:  Mark A. Pytosh
Title:  EVP – Corporate Services & Treasurer
Date:  April 12, 2022

Signature Page to Amendment to Corporate Master Service Agreement
									
			

CVR AVIATION, LLC
By:  _/s/ Dane J. Neumann_____________________
Name:  Dane J. Neumann 
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary 
Date:  April 12, 2022
CVR ENERGY HOLDINGS, INC.
By: _/s/ Dane J. Neumann_____________________
Name:  Dane J. Neumann 
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary 
Date:  April 12, 2022 
CHC GP, LLC

By: _/s/ Dane J. Neumann_____________________
Name: Dane J. Neumann
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary
Date:  April 12, 2022
RHC GP, LLC

By: _/s/ Dane J. Neumann_____________________
Name: Dane J. Neumann
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary
Date:  April 12, 2022
FHC GP, LLC

By: _/s/ Dane J. Neumann_____________________
Name: Dane J. Neumann
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary
Date:  April 12, 2022

Signature Page to Amendment to Corporate Master Service Agreement
									
			

CVR CHC, LP
By:     CHC GP, LLC, as its general partner
    
By: _/s/ Dane J. Neumann_____________________
Name: Dane J. Neumann
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary
Date:  April 12, 2022
COMMON ASSETS HOLDCO, LLC

By: _/s/ Dane J. Neumann_____________________
Name: Dane J. Neumann
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary
Date:  April 12, 2022
CVR COMMON ASSETS CVL, LLC        

By: _/s/ Dane J. Neumann_____________________
Name: Dane J. Neumann
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary
Date:  April 12, 2022

CVR COMMON ASSETS WYN, LLC

By: _/s/ Dane J. Neumann_____________________
Name: Dane J. Neumann
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary
Date:  April 12, 2022

COMMON SERVICES HOLDCO, LLC

By: _/s/ Dane J. Neumann_____________________
Name: Dane J. Neumann
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary
Date:  April 12, 2022

Signature Page to Amendment to Corporate Master Service Agreement
									
			

CVR COMMON SERVICES, LLC

By: _/s/ Dane J. Neumann_____________________
Name: Dane J. Neumann
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary
Date:  April 12, 2022

CVR RHC, LP

By:     RHC GP, LLC, as its general partner

By: _/s/ Dane J. Neumann_____________________
Name: Dane J. Neumann
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary
Date:  April 12, 2022
RENEWABLE ASSETS HOLDCO, LLC

By: _/s/ Dane J. Neumann_____________________
Name: Dane J. Neumann
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary
Date:  April 12, 2022

CVR RENEWABLES CVL, LLC
                
By: _/s/ Dane J. Neumann_____________________
Name: Dane J. Neumann
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary
Date:  April 12, 2022
CVR RENEWABLES WYN, LLC

By: _/s/ Dane J. Neumann_____________________
Name: Dane J. Neumann
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary
Date:  April 12, 2022

Signature Page to Amendment to Corporate Master Service Agreement
									
			

CVR FHC, LP

By:     FHC GP, LLC, as its general partner
    
By: _/s/ Dane J. Neumann_____________________
Name: Dane J. Neumann
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary
Date:  April 12, 2022
CVR REFINING CVL, LLC

By: _/s/ Dane J. Neumann_____________________
Name: Dane J. Neumann
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary
Date:  April 12, 2022
CVR REFINING WYN, LLC

By: _/s/ Dane J. Neumann_____________________
Name: Dane J. Neumann
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary
Date:  April 12, 2022
CVR RENEWABLES, LLC
By: _/s/ Dane J. Neumann_____________________
Name: Dane J. Neumann
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary
Date:  April 12, 2022

CVR SUPPLY & TRADING, LLC
            
By: _/s/ Dane J. Neumann_____________________
Name: Dane J. Neumann
Title:  Executive Vice President, Chief Financial Officer, Treasurer & Assistant Secretary
Date:  April 12, 2022

Signature Page to Amendment to Corporate Master Service Agreement
									
			

SCHEDULE A
Service Recipients
1.    Wynnewood Energy Company, LLC a Delaware limited liability company
2.    Wynnewood Refining Company, LLC, a Delaware limited liability company
3.    Coffeyville Resources Refining & Marketing, LLC, a Delaware limited liability company
4.    Coffeyville Resources Crude Transportation, LLC, a Delaware limited liability company
5.    Coffeyville Resources Terminal, LLC, a Delaware limited liability company
6.    Coffeyville Resources Pipeline, LLC, a Delaware limited liability company
7.    CVR Refining, LP, a Delaware limited partnership
8.    CVR Refining GP, LLC, a Delaware limited liability company
9.    CVR Refining, LLC, a Delaware limited liability company
10.    Coffeyville Resources Nitrogen Fertilizers, LLC, a Delaware limited liability company
11.    East Dubuque Nitrogen Fertilizers, LLC, a Delaware limited liability company
12.    CVR Nitrogen Holdings, LLC, a Delaware limited liability company
13.    CVR Nitrogen GP, LLC, a Delaware limited liability company
14.    CVR Nitrogen, LP, a Delaware limited partnership
15.    CVR Nitrogen Finance Corporation, a Delaware corporation
16.    CVR Partners, LP, a Delaware limited partnership
17.    CVR GP, LLC, a Delaware limited partnership
18.    CVR Energy, Inc., a Delaware corporation 
19.    Wynnewood Insurance Corporation, a Texas corporation
20.    CVR Aviation, LLC, a Delaware limited liability company
21.    CVR Energy Holdings, Inc., a Delaware corporation

A - 1
									
			

SCHEDULE B
Joining Parties
1.CHC GP, LLC, a Delaware limited liability company.
2.RHC GP, LLC, a Delaware limited liability company 
3.FHC GP, LLC, a Delaware limited liability company.
4.CVR CHC, LP, a Delaware limited partnership. 
5.Common Assets Holdco, LLC, a Delaware limited liability company.
6.CVR Common Assets CVL, LLC, a Delaware limited liability company.
7.CVR Common Assets WYN, LLC, a Delaware limited liability company.
8.Common Services Holdco, LLC, a Delaware limited liability company.
9.CVR Common Services, LLC, a Delaware limited liability company.
10.CVR RHC, LP, a Delaware limited partnership. 
11.Renewable Assets Holdco, LLC, a Delaware limited liability company.
12.CVR Renewables CVL, LLC, a Delaware limited liability company.
13.CVR Renewables WYN, LLC, a Delaware limited liability company.
14.CVR FHC, LP, a Delaware limited partnership. 
15.CVR Refining CVL, LLC, a Delaware limited liability company.
16.CVR Refining WYN, LLC, a Delaware limited liability company.
17.CVR Renewables, LLC, a Delaware limited liability company.
18.CVR Supply & Trading, LLC, a Delaware limited liability company.

B - 1EX-10.1

   

  Exhibit 10.1

  NON-EMPLOYEE DIRECTOR

  RESTRICTED STOCK UNIT AWARD AGREEMENT

  PATTERSON-UTI ENERGY, INC.
2021 LONG-TERM INCENTIVE PLAN

   

  THIS RESTRICTED STOCK UNIT AWARD AGREEMENT (the “Agreement”) is between Patterson-UTI Energy, Inc., a Delaware corporation (the “Company”), and __________________ (the “Recipient”) effective as of the ___ day of ___________, 20__ (the “Grant Date”), pursuant to the Patterson-UTI Energy, Inc. 2021 Long-Term Incentive Plan, as amended from time to time (the “Plan”), which is incorporated by reference herein in its entirety.

  WHEREAS, the Company desires to grant to the Recipient the restricted stock units specified herein (the “RSUs”), subject to the terms and conditions of this Agreement and the Plan; and

  NOW, THEREFORE, in consideration of the premises, mutual covenants and agreements contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:

  1.Definitions. For purposes of this Agreement, the following terms shall have the meanings indicated:

  (a)“Forfeiture Restrictions” shall mean any prohibitions and restrictions set forth herein with respect to the sale or other disposition of RSUs issued to the Recipient hereunder and the obligation to forfeit and surrender such RSUs to the Company.

  (b)“Restricted Period” shall mean the period designated by the Company during which the RSUs are subject to Forfeiture Restrictions under this Agreement.

  Capitalized terms not otherwise defined in this Agreement shall have the meanings given to such terms in the Plan.

  2.Grant of Restricted Stock Units. Effective as of the Grant Date, the Company hereby grants to the Recipient pursuant to the terms and conditions of the Plan and this Agreement the following number of RSUs: _______. Each RSU represents the right to receive one share of the Company’s common stock, $0.01 par value per share (“Common Stock”) on the conditions set forth herein. During the Restricted Period, the RSUs will be evidenced by entries in a bookkeeping ledger account which reflect the number of RSUs credited under the Plan for the Recipient’s benefit.

  3.Vesting and Settlement. The RSUs that are granted hereby shall be subject to the Forfeiture Restrictions. The Restricted Period and all of the Forfeiture Restrictions on the RSUs shall lapse and the RSUs shall vest as follows (it being understood that the number of RSUs as to which all restrictions have lapsed and which have vested in the Recipient at any time shall be the greatest of the number of vested RSUs specified in subparagraph (a), (b), (c) or (d) below):

  (a)Subject to continued service as a Director through such date, the Recipient shall become 100% vested as to the RSUs on the first anniversary of the Grant Date.

  (b)If the Recipient’s service as a Director is terminated (including as a result of a failure to be re-elected) before all of the RSUs have vested other than as a result of (i) removal for cause (as determined in the Board’s sole discretion), or (ii) voluntary resignation or refusal to stand for re-election, except where such resignation or refusal to stand for re-election is (x) part of a Board-approved director succession plan, (y) pursuant to the Company’s majority voting policy or (z) a result of physical disability, serious illness or injury that materially impairs her or his ability to continue as a Director, then the Recipient shall become vested in the number of RSUs equal to the product of (A) 100% of the RSUs that are granted hereby, multiplied by (B) a fraction, the numerator of which is the number of days in the period commencing on and including the Grant Date and ending on and including the date of the Recipient’s termination of service, and the denominator of which is 365.

  (c)If the Recipient’s service as a Director is terminated before all of the RSUs have vested as a result of (i) removal for cause (as determined in the Board’s sole discretion), or (ii) voluntary resignation or refusal to stand for re-election, where such resignation or refusal to stand for re-election is not (x) part of a Board-approved director succession plan, (y) pursuant to the Company’s majority voting policy or (z) a result of physical disability, serious illness or injury that 

   

  

   

  materially impairs her or his ability to continue as a Director, then any RSUs that have not vested shall be immediately forfeited and the Recipient shall cease to have any rights with respect to such forfeited RSUs.

  (d)Upon the occurrence of a Change of Control, the RSUs that have not vested as of the date of such Change of Control shall be 100% vested; provided, however, that this subparagraph (d) shall not apply if the Recipient is the Covered Person or forms part of the Covered Person for purposes of such Change of Control.

  RSUs that do not become vested pursuant to subparagraphs (a), (b) or (d) above shall be forfeited and the Recipient shall cease to have any rights with respect to such forfeited RSUs.

  On the date the RSUs granted hereunder become vested, the Recipient shall be entitled to receive one Share, which shall be delivered or transferred as soon as administratively practicable thereafter, in exchange for each vested RSU granted hereunder and after such delivery or transfer the Recipient shall have no further rights with respect to such RSU.  The Company shall cause to be delivered or transferred to the Recipient (or the Recipient’s legal representative or heir) a stock certificate representing those shares of the Common Stock issued in exchange for RSUs awarded hereby or shall cause the shares to be registered on the applicable stock transfer records in the Recipient’s (or the Recipient’s legal representative’s or heir’s) name, and such shares of the Common Stock shall be transferable by the Recipient (except to the extent that any proposed transfer would, in the opinion of counsel satisfactory to the Company, constitute a violation of applicable federal or state securities law).

  4.Dividend Equivalents.  During the Restricted Period, Dividend Equivalents with respect to the RSUs shall be accrued and credited, without interest, to a notional account and shall be subject to the same vesting and payment schedule as the underlying RSUs and payable in cash.

  5.Section 409A. The RSUs granted hereby are subject to the payment timing and other restrictions set forth in Section 12.14 of the Plan.  

  6.Transfer Restrictions.  The RSUs granted hereby may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of to the extent then subject to the Forfeiture Restrictions. Any such attempted sale, assignment, pledge, exchange, hypothecation, transfer, encumbrance or disposition in violation of this Agreement shall be void and the Company shall not be bound thereby.  Notwithstanding the foregoing, the Recipient may assign or transfer the RSUs granted hereby pursuant to a domestic relations order or with the consent of the Committee (i) for charitable donations; (ii) to the Recipient’s spouse, children or grandchildren (including any adopted and stepchildren and grandchildren), or (iii) a trust for the benefit of the Recipient or the persons referred to in clause (ii) (each transferee thereof, a “Permitted Assignee”); provided that such Permitted Assignee shall be bound by and subject to all of the terms and conditions of the Plan and this Award Agreement and shall execute an agreement satisfactory to the Company evidencing such obligations, relating to the RSUs; and provided further that the Recipient shall remain bound by the terms and conditions of the Plan.  Further, any Shares delivered upon the vesting of the RSUs awarded hereunder may not be sold or otherwise disposed of in any manner which would constitute a violation of any applicable federal or state securities laws, and the Recipient agrees (y) that the Company may refuse to cause the transfer of such shares to be registered on the applicable stock transfer records if such proposed transfer would, in the opinion of counsel satisfactory to the Company, constitute a violation of any applicable securities law, and (z) that the Company may give related instructions to the transfer agent, if any, to stop registration of the transfer of such shares.

  7.Capital Adjustments and Reorganizations. The existence of the RSUs shall not affect in any way the right or power of the Company or any company the stock of which is awarded pursuant to this Agreement to make or authorize any adjustment, recapitalization, reorganization, joint venture, subsidiary or division sale, or other change in its capital structure or its business, engage in any merger or consolidation, issue any debt or equity securities, dissolve or liquidate, or sell, lease, exchange or otherwise dispose of all or any part of its assets or business, or engage in any other corporate act or proceeding.

  8.No Fractional Shares.  All provisions of this Agreement concern whole Shares.  Notwithstanding anything contained in this Agreement to the contrary, if the application of any provision of this Agreement would yield a fractional share, such fractional share shall be rounded down to the next whole Share.

  9.No Obligation to Retain Services.  This Agreement is not a services or employment agreement, and no provision of this Agreement shall be construed or interpreted to guarantee the Recipient the right to remain a Director for any specified term.

  10.Amendment and Waiver. Except as otherwise provided in Section 11.1 of the Plan, this Agreement may be amended, modified or superseded only by written instrument executed by the Company and the Recipient. Only a written instrument executed and delivered by the party waiving compliance hereof shall make any waiver of the terms or conditions effective.  Any waiver granted by the Company shall be effective only if executed and delivered by a duly authorized executive officer of the 

   

  

   

  Company.  The failure of any party at any time or times to require performance of any provisions hereof shall in no manner affect the right to enforce the same. No waiver by any party of any term or condition, or of any breach of any term or condition, contained in this Agreement, in one or more instances, shall be construed as a continuing waiver of any such condition or breach, a waiver of any other term or condition, or a waiver of any breach of any other term or condition.

  11.Governing Law and Severability. This Agreement and all determinations made and actions taken hereunder, to the extent not otherwise governed by the Code or the laws of the United States,  shall be governed by the laws of the State of Delaware without reference to principles of conflict of laws, and construed accordingly. The invalidity of any provision of this Agreement shall not affect any other provision of this Agreement, which shall remain in full force and effect.

  12.Successors and Assigns. Subject to the limitations which this Agreement imposes upon the transferability of the RSUs granted hereby, this Agreement shall bind, be enforceable by and inure to the benefit of the Company and its successors and assigns, and to the Recipient and the Recipient’s Permitted Assignees, executors, administrators, agents, legal and personal representatives.

  13.Counterparts.  This Agreement may be executed in two or more counterparts, each of which shall be an original for all purposes but all of which taken together shall constitute but one and the same instrument.

  14.Grant Subject to Terms of Plan and this Agreement.  The Recipient acknowledges and agrees that the grant of the RSUs hereunder is made pursuant to and governed by the terms of the Plan and this Agreement, ratifies and consents to any action taken by the Company, the Board or the Committee concerning the Plan and agrees that the grant of the RSUs pursuant to this Agreement is subject in all respects to the more detailed provisions of the Plan.

  [SIGNATURES BEGIN ON FOLLOWING PAGE]

   

   

  

   

  In Witness Whereof, the Company has caused this Agreement to be duly executed by an officer thereunto duly authorized, and the Recipient has executed this Agreement, all effective as of the date first above written.

   

  					
	 
	 
	PATTERSON-UTI ENERGY, INC.:
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	By:_________________________________________
	 
	 

	 
	 
	Name:
	 
	 

	 
	 
	Title:
	 
	 

   

   

  					
	 
	 
	RECIPIENT:
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	____________________________________________
	 
	 

	 
	 
	[Name]
	 
	 

	 
	 
	Address:_____________________________________
	 
	 

	 
	 
	              _____________________________________
	 
	 

	 
	 
	              _____________________________________
	 
	 

	 
	 
	Facsimile No.: ________________________________

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