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| NOV > SEC Filings for NOV > Form 8-K on 7-Dec-2012 | All Recent SEC Filings |
7-Dec-2012
Change in Directors or Principal Officers, Financial Statements and Ex
On December 6, 2012, National Oilwell Varco, Inc. (the "Company") appointed Clay Williams as President and Chief Operating Officer of the Company, effective December 6, 2012. Mr. Williams previously served as the Company's Executive Vice President and Chief Financial Officer.
On December 6, 2012, the Company also appointed Jeremy Thigpen as Senior Vice President and Chief Financial Officer. Mr. Thigpen, age 38, previously served as the Company's President - Downhole Pumping and Solutions since 2007.
Mr. Thigpen is subject to an employment agreement he entered into with the Company on January 1, 2004 (the "Employment Agreement"), which was amended on December 22, 2008 and on December 31, 2009 (the "Amendments"), the terms of which are consistent with those of the Company's other executive officers. Under the Employment Agreement and its Amendments, Mr. Thigpen is provided base salary, as well as participation in employee incentive plans and employee benefits as generally provided to all employees. The Employment Agreement has a one-year term and is automatically extended on an annual basis.
The foregoing description of the Employment Agreement and its Amendments are qualified in its entirety by reference to the full text of each of the Employment Agreement and its Amendments, which are attached to this Current Report as Exhibits 10.1, 10.2 and 10.3 and incorporated herein by reference.
A copy of the press release naming Messrs. Williams and Thigpen to their respective positions is attached hereto as Exhibit 99.1 and incorporated herein by reference.
(d) Exhibits
10.1 Employment Agreement dated as of January 1, 2004 between Jeremy Thigpen and National Oilwell.
10.2 First Amendment to Employment Agreement dated as of December 22, 2008 between Jeremy Thigpen and National Oilwell Varco.
10.3 Second Amendment to Employment Agreement dated as of December 31, 2009 between Jeremy Thigpen and National Oilwell Varco.
99.1 National Oilwell Varco, Inc. press release dated December 6, 2012 announcing management changes.
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