X0306 4/A 2012-05-10 2012-05-14 0001022705 TESCO CORP TESO 0001498206 Ferris Mihial Dean 3993 W. SAM HOUSTON PARKWAY N. SUITE 100 HOUSTON TX 77043 1 SVP, Gen Counsel & Corp Sec Performance Stock Units - OI 0.0000 2012-05-10 4 A 0 4400.0000 0.0000 A 2015-05-10 2015-05-10 Common Stock 6600.0000 4400.0000 D Performance Stock Units - TSR 0.0000 2012-05-10 4 A 0 4400.0000 0.0000 A 2015-05-10 2015-05-10 Common Stock 6600.0000 4400.0000 D Each Performance Stock Unit (PSU) may be redeemed, at the Company's discretion, for shares of the Company's common stock or its cash equivalent. All awards were granted pursuant to the terms of the Amended and Restated Tesco Corporation 2005 Incentive Plan, which is exempt under Rule 16b-3(d). This number represents the performance stock units (PSUs) granted. The PSU performance goals are based on the Company's operating income percentage as compared to the Company's budget. Each award has a one-year performance period followed by an additional two-year time-based vesting period. The first performance period is the year ending December 31, 2012. The extent earned, PSUs will be settled 100 percent in shares. The potential settlement date is May 10, 2015. The reporting person may receive a number of shares of Company common stock from 0 percent to 150 percent of the PSUs granted, depending on the performance level achieved. The Performance Stock Units were entered with an incorrect Vest Date and Expiration Date. The date should be December 31, 2014. This number represents the PSUs granted. The PSU performance goals are based on the Company's one-year total shareholder return as compared to the Company's identified peers. Each award has a one-year performance period followed by an additional two-year time-based vesting period. The first performance perdiod is the year ending December 31, 2012. To the extent earned, PSUs will be settled 100 percent in shares. The potential settlement date is May 10, 2015. The reporting person may receive a number of shares of Company common stock from 0 percent to 150 percent of the PSUs granted, depending on the performance level achieved. The Performance Stock Units were entered with an incorrect Vest Date and Expiration Date. The date should be December 31, 2014. /s/ Dean Ferris 2014-01-29