NOV adopts equity retirement program and retiree medical plan for eligible employees

NOV Inc.

Qualifying employees must be age 60+, have 10+ years total service and 5 consecutive years; named executives eligible.
Equity awards granted ≥12 months before retirement continue full vesting; awards <12 months get prorated vesting.
Vested options/SARs become exercisable through original expiration; retirees must sign non-compete and non-solicit.
Retiree medical plan provides coverage until age 65 Medicare eligibility; executives have no immediate retirement plans.
Program effective July 11, 2022, applies to 2022 and future equity awards; Compensation Committee may amend or terminate.

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