Deferred Compensation from Separation Agreement and Release
THIS SEPARATION AGREEMENT AND RELEASE (this Agreement) is made by and between BRISTOW GROUP, INC., a Delaware corporation (Company), and RANDALL A. STAFFORD (Executive) this 25th day of June, 2012 (Effective Date). Company and Executive are sometimes referred to collectively as the Parties or individually as a Party.
Deferred Compensation. Reference is made to the Bristow Group, Inc. Deferred Compensation Plan effective August 1, 2008 (the Deferred Compensation Plan). Company and Executive acknowledge that Executives rights under the Deferred Compensation Plan are not intended to be affected by this Agreement, except that Executives termination of employment with the Company will terminate any obligation of the Company to make future contributions to the Deferred Compensation Plan for Executives benefit. Company and Executive also acknowledge that pursuant to the provisions of the Deferred Compensation Plan, Executive is not entitled to any contribution for the plan year ending December 31, 2012.