SEC Contract Filing

Filing Date: 2022-03-31

Document Content:
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<TYPE>EX-10.3
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<FILENAME>d344377dex103.htm
<DESCRIPTION>EX-10.3
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.3 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>S<SMALL>UPERIOR</SMALL> E<SMALL>NERGY</SMALL> S<SMALL>ERVICES</SMALL>, I<SMALL>NC</SMALL>. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>2021 M<SMALL>ANAGEMENT</SMALL> I<SMALL>NCENTIVE</SMALL> P<SMALL>LAN</SMALL> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>E<SMALL>MPLOYEE</SMALL> R<SMALL>ESTRICTED</SMALL> S<SMALL>TOCK</SMALL> U<SMALL>NIT</SMALL> A<SMALL>WARD</SMALL> A<SMALL>GREEMENT</SMALL>
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Restricted Stock Unit Award Agreement (the &#147;<U>Agreement</U>&#148;) is made, effective as of the ____ day of _____, _____ (the
&#147;<U>Date of Grant</U>&#148;), between Superior Energy Services, Inc., a Delaware corporation (the &#147;<U>Company</U>&#148;) and _____________ (the &#147;<U>Participant</U>&#148;). </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RECITALS: </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Company has adopted the Superior Energy Services, Inc. 2021 Management Incentive Plan (as it may be amended from time to
time, the &#147;<U>Plan</U>&#148;) pursuant to which awards of Restricted Stock Units may be granted; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Board and
Committee have determined that it is in the best interests of the Company and its shareholders to grant the Restricted Stock Units provided for herein (the &#147;<U>RSU Award</U>&#148;) to the Participant in recognition of the Participant&#146;s
services to the Company, such grant to be subject to the terms set forth herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>NOW, THEREFORE</B>, in consideration for the services
rendered by the Participant to the Company and the terms and conditions hereinafter set forth, the parties hereto agree as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.
<B><U>Grant of Restricted Stock Units</U></B>. Pursuant to Section&nbsp;9 of the Plan, the Company hereby issues to the Participant on the Date of Grant an award consisting of, in the aggregate, _____ Restricted Stock Units having the rights and
subject to the terms and conditions of this Award Agreement and the Plan. The Restricted Stock Units shall vest in accordance with Section&nbsp;4 hereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <B><U>Incorporation by Reference</U></B>. The provisions of the Plan are hereby incorporated herein by reference. Except as otherwise
expressly set forth herein, this Award Agreement shall be construed in accordance with the provisions of the Plan and any capitalized terms not otherwise defined in this Award Agreement shall have the definitions set forth in the Plan. The Committee
shall have the authority to interpret and construe the Plan and this Award Agreement and to make any and all determinations thereunder, and its decision shall be binding and conclusive upon the Participant and his or her legal representative in
respect of any questions arising under the Plan or this Award Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. <B><U>Restrictions</U></B>. Except as otherwise provided in
the Plan or this Award Agreement, the Restricted Stock Units may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Participant and any such purported assignment, alienation, pledge, attachment, sale,
transfer or encumbrance shall result in such Restricted Stock Units being automatically cancelled by the Company. In such case, all of the Participant&#146;s rights to such Restricted Stock Units shall immediately terminate.<U> </U> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. <B><U>Vesting</U></B>. Except as otherwise provided herein, the restrictions described in
Section&nbsp;3 above will lapse with respect to ___________ of the Restricted Stock Units on [each of] the _____ anniversary of __________ (the &#147;<U>Vesting Commencement Date</U>&#148;), [the ______ anniversary of the Vesting Commencement Date
and the _____ anniversary of the Vesting Commencement Date] ([each] such date, [a] [the] &#147;<U>Vesting Date</U>&#148;); <U>provided</U>, <U>that</U>, the Participant is still employed by the Company (&#147;<U>Continuous Service</U>&#148;) on the
applicable Vesting Date. Except as otherwise determined by the Committee in its discretion, if the Participant&#146;s Continuous Service terminates for any reason at any time prior to a Vesting Date, the outstanding unvested Restricted Stock Units
will be auto