Document:

Exhibit 10.1

                                    RPC, INC.
               PERFORMANCE-BASED INCENTIVE CASH COMPENSATION PLAN

1.    The Plan. The purpose of this Performance-Based Incentive Cash
      Compensation Plan (the "Plan") is to provide "selected executives" of RPC,
      Inc. or an affiliate thereof (the "Company") with cash awards (the
      "Awards") based upon pre-established, objective performance goals, thereby
      promoting alignment of the participating employees' interests with the
      interests of the Company and its shareholders, and focusing that
      employees' efforts toward enhancing the efficiency, profitability, growth
      and value of the Company.

2.    Plan Administration. The Plan shall be administered by the Compensation
      Committee of the Board of Directors of the Company or a subcommittee
      thereof (the "Committee"). The Committee shall have full authority to
      interpret and administer the Plan and establish rules and regulations for
      the administration of the Plan. Any actions of the Committee may be taken
      by a written instrument signed by all of the members of the Committee and
      such action so taken by written consent shall be as fully effective as if
      it had been taken by a majority of the members at a meeting duly held and
      called. The decisions and determinations of the Committee in all matters
      regarding the Plan shall be in its sole discretion. Any decision made, or
      action taken, by the Committee in connection with the administration of
      the Plan shall be final, binding and conclusive. No member of the
      Committee shall be liable to any participant for any action, determination
      or decision made in good faith with respect to the Plan or any Award paid
      under it. Notwithstanding the foregoing, the Committee may delegate the
      administration of the Plan to one or more of its designees, but only with
      respect to matters regarding participants who are not in the executive
      management class. All matters regarding the participants in the executive
      management class shall be the sole responsibility of the Committee.

3.    Eligibility. The participants in the Plan (collectively, the
      "Participants" or individually, a "Participant") shall be those executive
      officers of the Company who are designated each year as Participants by
      the Committee. Such designation shall be made during the first 90 days of
      each calendar year. Participation in the Plan in any one calendar year
      does not guarantee that an executive will be selected to participate in
      the Plan in any following calendar year.

4.    Size of Awards. Each calendar year, the Committee shall establish a target
      award for each Participant in the Plan, which shall be expressed as a
      percentage of his "Base Compensation" (the "Target Award"). For this
      purpose, "Base Compensation" means the base compensation in effect on the
      last day of the final pay period of the current Plan year. If and to the
      extent the performance goals established for the Participant by the
      Committee pursuant to Section 5 are met, the Participant's Award shall be
      determined in part based upon a range from the amount of his "Threshold
      Award" to the amount of his "Superior Award as set forth in Section 6. The
      Committee will determine the maximum cash award as a percentage of
      participants' base compensation for each applicable year but in no event
      will a cash award amount exceed 200 percent of participants' base
      compensation, or $2,000,000, whichever is less. The Target Award of each
      Participant or class of Participants (e.g., executive management) shall be
      established in writing by the Committee within the first 90 days of each
      calendar year.
<PAGE>

5.    Establishment of Performance Goals. Within the first 90 days of each
      calendar year and at a time when the outcome is substantially uncertain,
      the Committee shall establish performance goals for each Participant. The
      performance goals established for each Participant or class of
      Participants (e.g., executive management) shall be in writing. The
      following rules shall apply in establishing performance goals:

      a.    Types of performance. The performance goals established by the
            Committee shall be based on one or more performance measures that
            apply to the Participant alone ("Individual Performance"), the
            Participant's business unit/function performance ("Business
            Unit/Function Performance"), the Company as a whole ("Corporate
            Performance"), or any combination of one or more of Individual
            Performance, Business Unit/Function Performance or Corporate
            Performance. If a Participant's performance goals are based on a
            combination of Individual Performance, Business Unit/Function
            Performance or Corporate Performance, the Committee shall weight the
            importance of each type of performance that applies to such
            Participant by assigning a percentage to it (the "Weighted
            Percentage"). In no event shall the aggregate Weighted Percentages
            exceed 100 percent.

      b.    Performance measures. The Committee shall establish the performance
            measures that apply to Corporate Performance, Business Unit/Function
            Performance and Individual Performance.

            i.    Corporate Performance. The performance measures for Corporate
                  Performance shall be established based on such measures as
                  stock price, market share, revenues, earnings per share,
                  return on equity, return on average assets, return on invested
                  capital, expense management, or other objective criteria.

            ii.   Business Unit/Function Performance. The performance measures
                  for Business Unit/Function Performance shall be established
                  separately for each Participant whose performance goals are
                  based in whole or in part on Business Unit/Function
                  Performance. Such performance measures shall be based on such
                  business criteria as achievement of financial or non-financial
                  goals, safety record, training goals, or other objective
                  criteria.

            iii.  Individual Performance. The performance measures for
                  Individual Performance shall be established separately for
                  each Participant whose performance goals are based in whole or
                  in part on Individual Performance. Such performance measures
                  shall be based on such business criteria as process
                  improvement, expense management, achievement of particular
                  management objectives, or other objective criteria.

            If more than one business criteria is used as a performance measure
            for a type of performance (e.g., Corporate Performance), the
            Committee shall weight the importance of each business criteria by
            assigning a percentage to it. In no event shall the aggregate
            percentages exceed 100 percent.

6.    Levels of performance. The Committee shall establish a threshold, target
      and superior level of performance with respect to each measure of
      performance. A "Performance Value" shall be assigned to each such level of
      performance as follows:

              Level of Performance                Performance Value
              --------------------                -----------------
                 Threshold                                25%
                 Target                                  100%
                 Superior                                200%

                                      -2-
<PAGE>

      Interpolation shall be used to determine the Performance Value associated
      with performance between the threshold, target and superior performance
      levels. Performance below the threshold level shall have a 0 value and
      performance above the superior level shall have a value equal to 200%.

7.    Determination and Payment of Cash Award Amounts. The determination of the
      Award (if any) payable to a Participant shall be made as soon as
      practicable after the end of each calendar year by the Committee. The Cash
      Award Amount shall be determined in accordance with the following formula:

      [(AxBxC) + (AxDxE) + (AxFxG)] x Base Compensation = Cash Award Amount

      where:

      (A)   is the Participant's Target Award;

      (B)   is the Participant's Weighted Percentage (if any) for Individual
            Performance;

      (C)   is the Performance Value assigned to the level of performance
            attained by the Participant for Individual Performance;

      (D)   is the Participant's Weighted Percentage (if any) for Business
            Unit/Function Performance;

      (E)   is the Performance Value assigned to the level of performance
            attained by the Participant for Business Unit/Function Performance;

      (F)   is the Participant's Weighted Percentage (if any) for Corporate
            Performance; and

      (G)   is the Performance Value assigned to the level of performance
            attained by the Participant for Corporate Performance.

      The Award, if any, earned by a Participant with respect to a calendar year
      shall be paid to him in cash as soon as practicable following the
      determination of the Award and the Committee's written certification that
      the Participant achieved his performance goals. The Committee shall not
      have any discretion to increase the amount of an Award otherwise earned
      and payable pursuant to the terms of the Plan to a Participant. The
      Committee shall have the discretion to reduce or eliminate the amount of
      an Award otherwise earned and payable pursuant to the terms of the Plan to
      any Participant. No Award shall be paid under the Plan to a Participant
      with respect to any particular performance measure if his performance
      under the measure is below the threshold level of performance established
      by the Committee for that measure. However, see 13.j. where Committee has
      discretion to pay amounts outside of the Plan for outstanding performance.

8.    Termination For Reasons Other Than Death, Disability or Retirement. If a
      Participant's employment as an executive officer with the Company is
      terminated for any reason other than death, disability or retirement
      during a calendar year or thereafter prior to payment of an Award, he
      shall forfeit his right to receive any Award under this Plan, except that
      the Committee may elect, in its sole and absolute discretion, to pay an
      Award to such Participant based on his performance and Base Compensation
      for that portion of the calendar year during which he was employed as an
      executive officer of the Company.

                                      -3-
<PAGE>

9.    Termination Due to Death, Disability or Retirement. If a Participant's
      employment with the Company as an executive officer of the Company is
      terminated during a calendar year or thereafter prior to payment of an
      Award by reason of death, disability or retirement, and the Participant
      has been actively employed by the Company as an executive officer of the
      Company for a minimum of 6 calendar months during such calendar year, he
      shall be eligible for an Award based on his performance and Base
      Compensation for that portion of the calendar year in which he was
      employed. The determination and payment of such Award shall be made by the
      Committee at the end of such calendar year in the manner described in
      Section 7. If a Participant's employment as an executive officer of the
      Company shall terminate during the calendar year for any reason with less
      than 6 calendar months of such employment, he shall forfeit his right to
      receive any Award under this Plan, except that the Committee may elect, in
      its sole and absolute discretion, to pay an Award to such Participant
      based on his performance and Base Compensation for that portion of the
      calendar year during which he was employed.

10.   No Implied Contract. Nothing contained in this Plan shall be construed as
      conferring upon any Participant the right or imposing upon him the
      obligation to continue in the employment of the Company, nor shall it be
      construed as imposing upon the Company the obligation to continue to
      employ the Participant.

11.   Amendments. The Board of Directors of the Company or the Committee may
      amend or terminate the Plan in whole or in part at any time; provided,
      that no such action shall adversely affect any Award earned and payable
      under the Plan as of the date of such amendment or termination.

12.   Effective Date. The Plan shall become effective on March 31, 2006, subject
      to the approval by a majority vote of the stockholders of the Company
      voting on the proposal at the annual meeting of stockholders for 2006.

13.   Miscellaneous.

      a.    Taxes and other deductions. Any tax required to be withheld by any
            government authority shall be deducted from each Award. Other
            deductions such as 401(k) may also be deducted.

      b.    Non-assignability. Awards under the Plan shall not be subject to
            anticipation, alienation, pledge, transfer or assignment by any
            person entitled thereto, except by designation of a beneficiary or
            by will or the laws of descent and distribution.

      c.    No trust. The obligation of the Company to make payments hereunder
            shall constitute a liability of the Company to the Participants.
            Such payments shall be made from the general funds of the Company,
            and the Company shall not be required to establish or maintain any
            special or separate fund, or otherwise to segregate assets to assure
            that such payments shall be made, and neither the Participants nor
            their beneficiaries shall have any interest in any particular assets
            of the Company by reason of its obligations hereunder. Nothing
            contained in this Plan shall create or be construed as creating a
            trust of any kind or any other fiduciary relationship between the
            Company and the Participants or any other person. To the extent that
            any person acquires a right to receive payments from the Company
            hereunder, such right shall be no greater than the right of an
            unsecured creditor of the Company.

                                      -4-
<PAGE>

      d.    Facility of payments. If a Participant or any other person entitled
            to receive an Award under this Plan (the "recipient") shall, at the
            time payment of any such amount is due, be incapacitated so that
            such recipient cannot legally receive or acknowledge receipt of the
            payment, then the Committee, in its sole and absolute discretion,
            may but shall not be required to direct that the payment be made to
            the legal guardian, attorney-in-fact or person with whom such
            recipient is residing, and such payment shall be in full
            satisfaction of the Company's obligation under the Plan with respect
            to such amount.

      e.    Beneficiary designation. Each Participant may designate a
            beneficiary hereunder. Such designation shall be in writing, shall
            be made in the form and manner prescribed by the Committee, and
            shall be effective only if filed with the Committee prior to the
            Participant's death. A Participant may, at any time prior to his
            death, and without the consent of his beneficiary, change his
            designation of beneficiary by filing a written notice of such change
            with the Committee in the form and manner prescribed by the
            Committee. In the absence of a designated beneficiary, or if the
            designated beneficiary and any designated contingent beneficiary
            predecease the Participant, the beneficiary shall be the
            Participant's surviving spouse, or if the Participant has no
            surviving spouse, the Participant's estate.

      f.    Governing Law. The Plan shall be construed and its provisions
            enforced and administered in accordance with the laws of the State
            of Georgia.

      g.    A Participant must be employed in the same position on December 31
            to be eligible for payment of an Award, except as described below in
            i.

      h.    A Participant will not receive an Award if for any reason he or she
            is in a position on December 31 that is not eligible for an Award or
            if you are not actively employed on the date that the Award is paid.

      i.    Actions May Prohibit Bonus. A Participant will not receive any bonus
            if he or she shall falsify documents, violate Company policy or know
            of such actions by employees under his or her direction without
            taking corrective actions.

      j.    Bonuses Outside the Plan. The Compensation Committee reserves the
            right to reward performance in situations by awarding a Participant
            an award outside the terms of this Plan.

      k.    Adjustment or modification of performance goals. The Committee, in
            its discretion may adjust or modify the calculation of Performance
            Goals in the event of, in recognition of, or in anticipation of, any
            unanticipated, unusual nonrecurring or extraordinary corporate item,
            transaction, event, or development, or in response to, or in
            anticipation of, changes in applicable laws, regulations, accounting
            principles, or business conditions.

                                      -5-
<PAGE>

      This RPC, Inc. Performance-Based Incentive Cash Compensation Plan has been
executed on behalf of the Company as of the 31st day of March, 2006.

                                      RPC, Inc.

                                      By:  /s/ Richard A. Hubbell
                                           -------------------------------------
                                           President and Chief Executive Officer

Attest:

/s/ Linda H. Graham
-----------------------------
Secretary

[Corporate Seal]

                                      -6-exv10w2

 

Exhibit 10.2

January 20, 2006

PERSONAL & CONFIDENTIAL

Mr. F. Matthew Rhodes

c/o Conexant Systems, Inc.

4000 MacArthur Boulevard

West Tower

Newport Beach, CA 92660

			
	Re:	 	Amendment to Employment Agreement

Dear Matt:

     This letter agreement (“Amendment”) hereby amends, effective as of the Effective Date (as
defined below), the Employment Agreement dated as of January 15, 2004, as amended November 12, 2004
(the “Agreement”) between you and Conexant Systems, Inc. (the “Company”).

     The definition of “Date of Termination” in Section 23 of the Agreement is hereby amended to
insert at the end of clause (iv) thereof immediately preceding the period, the following:

”, or in connection with a termination by the Executive for Good Reason, such later date as
may be specified in the Notice of Termination, if such date is acceptable to both parties.”

     This Amendment is contingent upon your submission of a letter addressed to the Chairman and
Chief Executive Officer of the Company pursuant to which you will resign from your position as
President of the Company and as an officer and/or director of any subsidiary or affiliate of the
Company in connection with your simultaneous assumption of the position of Executive Assistant to
the Chairman and Chief Executive Officer of the Company in the form attached as Exhibit A (the date
of such letter being the “Effective Date”).

     Except as may be hereinabove modified, the Agreement shall remain in full force and effect and
you will continue to be entitled to receive your compensation and other benefits provided for
pursuant to the terms of the Agreement.

 

 

     Please confirm your agreement with the foregoing by signing and returning the enclosed copy of
this Amendment.

	 	 	 	 	 
	 	 	CONEXANT SYSTEMS, INC.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Michael H. Vishny
	 

	 	 	 	 
	 

	 	Name:
	 	Michael H. Vishny
	 

	 	Title:
	 	Senior Vice President, Human Resources

Accepted and Agreed to as of

the date set forth above:

F. MATTHEW RHODES

/s/ F. Matthew Rhodes

2

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