Attached files

file filename
EX-10.6 - FINAL SETTLEMENT AND LICENSE AGREEMENT - TESCO CORPtesco106.htm
EX-10.15 - EMPLOYMENT AGREEMENT WITH DIETMAR NEIDHARDT - TESCO CORPtesco1015.htm
EX-21 - SUBSIDIARIES OF TESCO CORPORATION - TESCO CORPtesco21.htm
EX-23 - CONSENT OF PRICEWATERHOUSECOOPERS LLP - TESCO CORPtesco23.htm
EX-31.1 - SECTION 302 CERTIFICATION OF CEO - TESCO CORPtesco311.htm
EX-31.2 - SECTION 302 CERTIFICATION OF CFO - TESCO CORPtesco312.htm
EX-10.20 - INTERNATIONAL LETTER OF ASSIGNMENT WITH JAMES LANK - TESCO CORPtesco1020.htm
EX-10.25 - 1ST AMNDMT TO EMPLOYMENT AGREEMENT WITH FERNANDO ASSING - TESCO CORPtesco1025.htm
EX-10.23 - 2ND AMNDMT TO EMPLOYMENT AGREEMENT WITH JEFFREY FOSTER - TESCO CORPtesco1023.htm
EX-10.33 - SHORT TERM INCENTIVE PLAN 2011 - TESCO CORPtesco1033.htm
EX-10.22 - 2ND AMNDMT TO EMPLOYMENT AGREEMENT WITH ROBERT KAYL - TESCO CORPtesco1022.htm
EX-10.24 - 1ST AMNDMT TO EMPLOYMENT AGREEMENT WITH DEAN FERRIS - TESCO CORPtesco1024.htm
EX-10.21 - 2ND AMNDMT TO EMPLOYMENT AGREEMENT WITH JULIO QUINTANA - TESCO CORPtesco1021.htm
10-K - FORM 10-K FOR FISCAL YEAR ENDED DECEMBER 31, 2010 - TESCO CORPtesco201010k.htm
EX-32 - SECTIN 906 CERTIFICATIONS OF CEO AND CFO - TESCO CORPtesco32.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

 
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