Document:

EX-10.10

 Exhibit 10.10 

Baker Hughes Incorporated 

Compensation Recoupment Policy 
 The Baker
Hughes Incorporated Compensation Recoupment Policy (the “Policy”) adopted by the Baker Hughes Incorporated Board of Directors (the “Board”) outlines the general principles the Board will apply in exercising its discretion
to require certain compensation to be repaid to Baker Hughes Incorporated (the “Company”) or its subsidiaries. 
 Purpose: 

The purpose of this Policy is to provide the Board with the right to request and receive reimbursement of incentive compensation under the circumstances
outlined in this policy. 
 Definitions: 
 For purposes
of this Policy, the following terms shall have the meanings set forth below: 
 “Short-term incentive compensation” means bonuses paid under the
Baker Hughes Incorporated Annual Incentive Plan, the Baker Hughes Incorporated Annual Incentive Plan for Employees and the Company’s discretionary short-term bonus program. 

“Long-term incentive compensation” means long-term incentive compensation opportunities and payments under the Company’s 2002
Director & Officer Long Term Incentive Plan and the Baker Hughes Incorporated 2002 Employee Long Term Incentive Plan (or successor long-term incentive programs). 

“Executive officer” means the executive officers of the Company within the meaning of Rule 3b7 promulgated under the Securities Exchange Act of
1934, as amended. 
 Misconduct Leading to an Accounting Restatement 

If the Board determines that gross negligence, intentional misconduct or fraud by an executive officer or former executive officer of the Company caused or
partially caused the Company to have to restate all or a portion of any of its financial statements, the Board, in its sole discretion, may, to the extent permitted by law and the Company’s benefit plans and agreements, and to the extent
determined in its sole judgment that it is in the best interests of the Company to do so, require repayment of all or a portion of any short-term incentive compensation or long-term incentive compensation paid pursuant to grants to such executive
officer or former executive officer and/or effect the cancellation of any unvested long-term incentive compensation, if (1) the granting of the incentive compensation opportunity or the vesting or the payment of the incentive compensation was
contingent on the achievement of specific financial or operating results that were listed in the financial statement that was subsequently restated and (2) the amount of incentive compensation opportunity granted or the vesting or the payment
of the incentive compensation would have been less had such specific financial or operating results that were listed in the financial statements been correct. 

  
 1 

 The Board may seek recoupment under this policy only if (1) the financial restatement shall have occurred
within 36 months of the filing with the Securities and Exchange Commission of the original financial statement that was subsequently restated and (2) the Board makes any demand for recoupment within 12 months after the restatement. 

Effective Date 
 This policy will apply to short-term and
long-term incentive compensation opportunities and awards granted for performance periods commencing on or after January 1, 2014. 
 Delegation of
Authority 
 The Board may delegate to the Compensation Committee or any other committee of the Board the authority to make any determinations or to take
any actions under this policy. 

  
 2EX-4.1

 Exhibit 4.1 

SECOND SUPPLEMENTAL INDENTURE 

Dated as of January 24, 2014 

to 
 INDENTURE 

Dated as of March 22, 2010 

among 
 PARKER DRILLING
COMPANY 
 as Issuer, 

The SUBSIDIARY GUARANTORS named therein 

and 
 THE BANK OF NEW
YORK MELLON TRUST COMPANY, N.A. 
 as Trustee 
  

 
 9.125% Senior
Notes due 2018 

 SECOND SUPPLEMENTAL INDENTURE 

THIS SECOND SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of January 24, 2014, is by and among Parker
Drilling Company, a Delaware corporation (the “Issuer”), the Guarantors party hereto (the “Guarantors”), and The Bank of New York Mellon Trust Company, N.A., as trustee under the Indenture referred to below (the
“Trustee”). 
 RECITALS 

WHEREAS, the Issuer and the Guarantors have heretofore executed and delivered to the Trustee an Indenture, dated as of March 22, 2010
(the “Indenture”), providing for the issuance of the Issuer’s 9.125% Senior Notes due 2018 (the “Notes”); 

WHEREAS, on or about March 22, 2010, the Issuer issued $300,000,000 aggregate principal amount of Notes, on or about April 25, 2012,
the Issuer issued an additional $125,000,000 aggregate principal amount of Notes; 
 WHEREAS, the Issuer and the Guarantors have heretofore
executed and delivered to the Trustee a First Supplemental Indenture, dated as of June 21, 2013 (the “First Supplemental Indenture”), which added ITS Rental and Sales, Inc., a Texas corporation and a wholly-owned subsidiary of
the Issuer, as a new Guarantor of the Notes. 
 WHEREAS, Section 9.02 of the Indenture provides that, with the consent of Holders
representing a majority in principal amount of the outstanding Notes, the Issuer, the Guarantors and the Trustee may enter into an indenture supplemental to the Indenture for the purpose of amending the Indenture or the Notes (subject to certain
exceptions); 
 WHEREAS, the Issuer desires and has requested the Trustee to join with it and the Guarantors in entering into this
Supplemental Indenture for the purpose of amending the Indenture and the Notes in certain respects as permitted by Section 9.02 of the Indenture; 

WHEREAS, the Issuer has solicited consents to this Supplemental Indenture upon the terms and subject to the conditions set forth in its Offer
to Purchase and Consent Solicitation Statement dated January 7, 2014 and the related consent and letter of transmittal (which together, including any amendments, modifications or supplements thereto, constitute the “Tender
Offer”); and 
 WHEREAS, (1) the Issuer has received the consent of the Holders of a majority in principal amount of the
outstanding Notes, all as certified by an Officers’ Certificate delivered to the Trustee simultaneously with the execution and delivery of this Supplemental Indenture and (2) the Issuer and the Guarantors have satisfied all other
conditions required under Article Nine of the Indenture to enable the Issuer, the Guarantors and the Trustee to enter into this Supplemental Indenture; 

NOW, THEREFORE, in consideration of the above premises, each party hereby agrees, for the benefit of the others and for the equal and ratable
benefit of the Holders of the Notes, as follows: 
 ARTICLE I 

AMENDMENTS TO INDENTURE AND NOTES 

Section 1.1 Amendments to Articles Four, Five and Six. The Indenture is hereby amended by deleting the following Sections
or clauses of the Indenture and all references and definitions related thereto in their entirety: 
 Clauses (f) and (g) of
Section 6.01 (Events of Default); 
 Section 4.03(a) (Reports), except as required by Section 314(a) of the TIA; 

Clauses (iii) and (iv) of Section 5.01 (Merger, Consolidation, or Sale of Assets); 

 Section 4.04(c) (Compliance Certificate); 

Section 4.05 (Taxes); 

Section 4.07 (Restricted Payments); 

Section 4.08 (Dividend and Other Payment Restrictions Affecting Subsidiaries); 

Section 4.09 (Incurrence of Indebtedness and Issuance of Preferred Stock); 

Section 4.10 (Asset Sales); 

Section 4.11 (Transactions with Affiliates); 

Section 4.12 (Liens); 

Section 4.15 (Offer to Purchase Upon Change of Control); 

Section 4.16 (Limitation on Sale and Leaseback Transactions); 

Section 4.17 (Payments for Consent); and 

Section 4.18 (Subsidiary Guarantees of Certain Indebtedness). 

ARTICLE II 

MISCELLANEOUS PROVISIONS 

Section 2.1 Defined Terms. For all purposes of this Supplemental Indenture, except as otherwise defined or unless the
context otherwise requires, terms used in capitalized form in this Supplemental Indenture and defined in the Indenture have the meanings specified in the Indenture. 

Section 2.2 Indenture. Except as amended hereby, the Indenture and the Notes are in all respects ratified and confirmed and
all the terms shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of Notes heretofore or hereafter authenticated and delivered under the Indenture shall be bound
hereby and all terms and conditions of both shall be read together as though they constitute a single instrument, except that in the case of conflict the provisions of this Supplemental Indenture shall control. 

Section 2.3 Governing Law. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF NEW YORK. 
 Section 2.4 Successors. All agreements of the Issuer and the Guarantors in this Supplemental
Indenture and the Notes shall bind their respective successors. All agreements of the Trustee in this Supplemental Indenture shall bind its successors. 

Section 2.5 Duplicate Originals. All parties may sign any number of copies of this Supplemental Indenture. Each signed copy
shall be an original, but all of them together shall represent the same agreement. It is the express intent of the parties to be bound by the exchange of signatures on this Supplemental Indenture via telecopy or other form of electronic
transmission. 
 Section 2.6 Severability. In case any one or more of the provisions in this Supplemental Indenture or in
the Notes shall be held invalid, illegal or unenforceable, in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions shall not in any way be affected or
impaired thereby, it being intended that all of the provisions hereof shall be enforceable to the fullest extent permitted by law. 

Section 2.7 Trustee Disclaimer. The Trustee accepts the amendments of the Indenture effected by this Supplemental Indenture
and agrees to execute the trust created by the Indenture as hereby amended, but on the terms and conditions set forth in the Indenture, including the terms and provisions defining and limiting the liabilities and responsibilities of the Trustee,
which terms and provisions shall in like manner define and limit its liabilities and responsibilities in the performance of the trust created by the Indenture as hereby amended, and without limiting the generality of the foregoing, the Trustee shall
not be responsible in any manner whatsoever for or with respect to any of the recitals or statements contained 

 
herein, all of which recitals or statements are made solely by the Issuer and the Guarantor, and the Trustee makes no representation with respect to any such matters. Additionally, the Trustee
makes no representations as to the validity or sufficiency of this Supplemental Indenture. 
 Section 2.8 Effectiveness.
The provisions of this Supplemental Indenture shall be effective only upon execution and delivery of this instrument by the parties hereto. Notwithstanding the foregoing sentence, the provisions of this Supplemental Indenture shall become operative
only upon the purchase by the Issuer of a majority in principal amount of the outstanding Notes pursuant to the Tender Offer, with the result that the amendments to the Indenture effected by this Supplemental Indenture shall be deemed to be revoked
retroactive to the date hereof if such purchase shall not occur. The Issuer shall notify the Trustee in writing promptly after the occurrence of such purchase or promptly after the Issuer shall determine that such purchase will not occur. 

Section 2.9 Endorsement and Change of Form of Notes. Any Notes authenticated and delivered after the close of business on
the date that this Supplemental Indenture becomes operative in substitution for Notes then outstanding and all Notes presented or delivered to the Trustee on and after that date for such purpose shall be stamped, imprinted or otherwise legended by
the Issuer, with a notation as follows: 
 “Effective as of January 24, 2014, the Issuer has amended the Indenture, as provided in
the Second Supplemental Indenture, dated as of January 24, 2014. Reference is hereby made to said Second Supplemental Indenture, copies of which are on file with the Trustee, for a description of the amendments made therein.” 

Section 2.10 Effect of Headings. The Section headings herein are for convenience only and shall not affect the construction
thereof. 
 [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK] 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed as of the day and year written above. 
  

					
	PARKER DRILLING COMPANY
		
	By:	 	/s/ Jon Al Duplantier
	Name: Jon-Al Duplantier
	Title: Senior Vice President
	
	GUARANTORS
	
	ANACHORETA, INC.
	ITS RENTAL AND SALES, INC.
	PARDRIL, INC.
	PARKER AVIATION, INC.
	PARKER DRILLING ARCTIC OPERATING, INC.
	PARKER DRILLING COMPANY NORTH AMERICA, INC.
	PARKER DRILLING COMPANY OF NIGER
	PARKER DRILLING COMPANY OF OKLAHOMA, INCORPORATED
	PARKER DRILLING COMPANY OF SOUTH AMERICA, INC.
	PARKER DRILLING MANAGEMENT SERVICES, INC.
	PARKER DRILLING OFFSHORE CORPORATION
	PARKER DRILLING OFFSHORE USA, L.L.C.
	PARKER NORTH AMERICA OPERATIONS, INC.
	PARKER TECHNOLOGY, INC.
	PARKER TECHNOLOGY, L.L.C.
	PARKER TOOLS, LLC
	PARKER-VSE, INC.
	QUAIL USA, LLC
			
		 	By:	 	 /s/ Jon Al Duplantier

		 	Name: Jon-Al Duplantier
		 	Title: Vice President
	
	QUAIL TOOLS, LP
		
	By: 	 	QUAIL USA, LLC, its general partner
			
		 	By:	 	 /s/ Jon Al Duplantier

		 	Name: Jon-Al Duplantier
		 	Title: Vice President

 
			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
		
	By:	 	/s/ Julie H Ramos

 
			
	Name:	 	Julie Hoffman-Ramos
	Title:	 	Vice President

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