X0306 4 2014-12-12 0001022705 TESCO CORP TESO 0001464287 ASSING FERNANDO RAFAEL 3993 W. SAM HOUSTON PARKWAY N. SUITE 100 HOUSTON TX 77043 1 Exec. VP & COO Option to Purchase 12.2200 2014-12-12 4 A 0 65600.0000 0.0000 A 2021-12-12 Common Stock 65600.0000 65600.0000 D Performance Stock Units - EPS 2014-12-12 4 A 0 28800.0000 0.0000 A 2018-03-16 2018-03-16 Common Stock 57600.0000 28800.0000 D Performance Stock Units - ROCE 2014-12-12 4 A 0 28800.0000 0.0000 A 2018-03-16 2018-03-16 Common Stock 57600.0000 28800.0000 D Restricted Stock Unit 2014-12-12 4 A 0 34600.0000 0.0000 A 2017-12-12 Common Stock 34600.0000 34600.0000 D All awards were granted (i) on December 12, 2014 to the reporting person as a portion of his compensation for serving as an officer or director of the Company; and (ii) pursuant to the terms of the Amended and Restated Tesco Corporation 2005 Incentive Plan, which is exempt under Rule 16b-3(d). The vesting of all awards is contigent upon the reporting person's continued employment by or service as Director to the Company. This number represents the stock options (Options) granted to the reporting person as a portion of his compensation for serving as an officer of the company. These Options are subject to a three year vesting period. The Options and RSUs vest equally over three years beginning December 12, 2015. Each Restricted Stock Unit (RSU) and Performance Stock Unit (PSU) may be redeemed, at the Company's discretion, for one share 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). The number represents the PSUs granted. The PSU performance goals are based on the Company's Earnings per Share (EPS) based on a 3 year Target Matrix of Revenue and EPS. Each award has a three year performance period followed by an additional time based vesting period, ending March 16, 2018, during which time the multiplier will be calculated. The first performance period is the year ending December 31, 2017. The extent earned, PSUs will be settled 100 percent in shares. The potential settlement date is May 16, 2016. The reporting person may receive a number of shares of the Company's common stock from 0 to 200 percent of the PSUs granted, depending on the performance level achieved. The first performance period is the year ending December 31, 2017. The extent earned, PSUs will be settled 100 percent in shares. The potential settlement date is May 16, 2016. The reporting person may receive a number of shares of the Company common stock from 0 to 200 percent of the PSUs granted, depending on the performance level achieved. This number represents the PSUs granted. The PSU performance goals are based on the Company's ROCE (EBIT/(Total Assets w/o Cash-Current Liabilities)) calculated as an average of the annual ROCE over 3 year performance period, with each annual ROCE calculated quarterly. Each award has a 3 year performance period followed by an additional time based vesting period, ending March 16, 2018 during which time the multiplier will be calculated. The first performance period is the year ending December 31, 2017. The extent earned, PSUs will be settled 100 percent in shares. The potential settlement date is May 16, 2016. The reporting person may receive a number of shares of Company common stock from 0 to 200 percent of the PSUs granted, depending on the performance level achieved. This number represents the RSUs granted. These RSUs are subject to a three year vesting period. RSUs are calculated on a one-for-one share basis. Each RSU may be redeemed, at the Company's discretion, for one share of the company's common stock or its cash equivalent. Dean Ferris, Attorney-in-fact 2014-12-16