0000950129-05-002517 Sample Contracts

HYDRIL COMPANY INCENTIVE STOCK OPTION AGREEMENT
Hydril Company Incentive Stock Option Agreement • March 16th, 2005 • Hydril Co • Oil & gas field machinery & equipment • Delaware

This Option Agreement between Hydril Company (the “Company”) and «Name» (the “Optionee”), an employee of the Company or its Subsidiary, regarding Incentive Stock Options (as defined in the Hydril Company 2000 Incentive Plan (the “Plan”)) granted to the Optionee on «Grant_Date» (the “Grant Date”) to purchase from the Company up to but not exceeding in the aggregate «Options» shares of Common Stock (as defined in the Plan), at «Per_Share» per share, such price being at least equal to the Fair Market Value per share of Common Stock on the Grant Date (or, if the Optionee owns more than 10% of the total combined voting power of all classes of stock of the Company or any of its affiliates as of the date of this grant, such price being at least equal to 110% of the Fair Market Value per share of Common Stock on the Grant Date), such number of shares and such price per share being subject to adjustment as provided in Section 15 of the Plan, and further subject to the following terms and condit

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HYDRIL COMPANY NONEMPLOYEE DIRECTOR STOCK OPTION AGREEMENT
Hydril Company Nonemployee Director Stock Option Agreement • March 16th, 2005 • Hydril Co • Oil & gas field machinery & equipment • Delaware

This Option Agreement between Hydril Company (the “Company”) and «First_Name» «Middle_I» «Last_Name» (the “Optionee”), a nonemployee director of the Company or its Subsidiary, regarding Nonqualified Stock Options (as defined in the Hydril Company 2000 Incentive Plan (the “Plan”) granted to the Optionee on «Grant_Date»(the “Grant Date”) to purchase from the Company up to but not exceeding in the aggregate «Shares» shares of Common Stock (as defined in the Plan), at «Share_Price» per share, such number of shares and such price per share being subject to adjustment as provided in Section 15 of the Plan, and further subject to the following terms and conditions:

HYDRIL COMPANY RESTRICTED STOCK UNIT AGREEMENT
Hydril Company Restricted Stock Unit Agreement • March 16th, 2005 • Hydril Co • Oil & gas field machinery & equipment • Delaware

This Restricted Stock Unit Agreement between Hydril Company (the “Company”) and «Name» (the “Grantee”), an employee of the Company or its Subsidiary, regarding an award (“Award”) of «Restricted» units (“Restricted Stock Units”) representing shares of Common Stock (as defined in the Hydril Company 2000 Incentive Plan (the “Plan”)) granted to the Grantee on «Grant_Date»(the “Grant Date”), such number of units subject to adjustment in connection with the occurrence of any of the events described in Section 15 of the Plan, and further subject to the following terms and conditions:

HYDRIL COMPANY RESTRICTED STOCK AGREEMENT
Hydril Company Restricted Stock Agreement • March 16th, 2005 • Hydril Co • Oil & gas field machinery & equipment • Delaware

This Restricted Stock Agreement between Hydril Company (the “Company”) and {Name} (the “Grantee”), an employee of the Company or its Subsidiary, regarding an award (“Award”) of {# of shares} shares of Common Stock (as defined in the Hydril Company 2000 Incentive Plan (the “Plan”)) granted to the Grantee on {Date} (the “Grant Date”), such number of shares subject to adjustment as provided in Section 15 of the Plan, and further subject to the following terms and conditions:

To: Neil Russell From: Michael Danford
Hydril Co • March 16th, 2005 • Oil & gas field machinery & equipment

The purpose of this agreement is to outline your relocation and assignment to the United Kingdom in June 2004. This agreement replaces the agreement dated October 1, 2002 (which continues through January 31, 2005), and will serve as a complete amendment and restatement so that this will be the only agreement in effect between you and Hydril. This agreement establishes relocation benefits and initial compensation in the U.K. All parts of your compensation will be reviewed from time to time by Hydril Management and the Compensation and Governance Committee of the Board of Directors. Your compensation may be changed or altered as considered appropriate by Hydril Management and the Compensation and Governance Committee.

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