X0306 4 2014-12-19 0001022705 TESCO CORP TESO 0001464287 ASSING FERNANDO RAFAEL 3993 W. SAM HOUSTON PARKWAY N. SUITE 100 HOUSTON TX 77043 1 1 President & CEO Performance Stock Units - EPS 0.0000 2014-12-19 4 A 0 15000.0000 0.0000 A 2018-03-16 2018-03-16 Common Stock 30000.0000 15000.0000 D Performance Stock Units - ROCE 0.0000 2014-12-19 4 A 0 15000.0000 0.0000 A 2018-03-16 2018-03-16 Common Stock 30000.0000 15000.0000 D Restricted Stock Unit 0.0000 2014-12-19 4 A 0 20000.0000 0.0000 A 2017-12-19 Common Stock 20000.0000 20000.0000 D 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 three year performance period ends December 31, 2017. To he extent earned, PSUs will be settled 100 percent in shares. The potential settlement date is May 16, 2018. 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. 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. The RSUs vest equally over three years beginning December 19, 2015. Dean Ferris, Attorney-in-fact 2014-12-23