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SEC Filings

S-4/A
KEY ENERGY SERVICES INC filed this Form S-4/A on 03/08/1996
Entire Document
 
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         SECTION 4.07.  Assistant and  Subordinate  Officers.  The assistant and
subordinate  officers of the  Corporation  are all officers  below the office of
Vice-President,  Secretary, or Treasurer.  The assistant or subordinate officers
shall have such duties as are from time to time assigned to them by the Board of
Directors,  the chief  executive  officer,  or the  President  or in the case of
Assistant  Treasurer and Assistant Secretary by the Treasurer and the Secretary,
respectively.

         SECTION 4.08.  Election,  Tenure and Removal of Officers.  The Board of
Directors  shall elect the officers of the  Corporation.  The Board of Directors
may from time to time  authorize any  committee or officer to appoint  assistant
and  subordinate  officers.  Election or appointment of an officer,  employee or
agent  shall  not of  itself  create  contract  rights.  All  officers  shall be
appointed to hold their offices, respectively, during the pleasure of the Board.
The Board of Directors  (or, as to any  assistant or  subordinate  officer,  any
committee or officer authorized by the Board) may remove an officer at any time.
The removal of an officer does not prejudice any of his or her contract  rights.
The Board of Directors  (or, as to any  assistant or  subordinate  officer,  any
committee or officer authorized by the Board) may fill a vacancy which occurs in
any office for the unexpired portion of the term.

         SECTION 4.09  Compensation.  The Board of Directors shall have power to
fix the salaries and other  compensation and remuneration,  of whatever kind, of
all officers of the  Corporation.  No officer shall be prevented  from receiving
such  salary  by reason  of the fact  that he or she is also a  director  of the
Corporation. The Board of Directors may authorize any committee or officer, upon
whom the power of appointing  assistant and  subordinate  officers may have been
conferred, to fix the salaries,  compensation and remuneration of such assistant
and subordinate officers.


                                   ARTICLE V.

                                DIVISIONAL TITLES

         SECTION 5.01.  Conferring Divisional Titles. The Board of Directors may
from time to time confer upon any employee of a division of the  Corporation the
title of  President,  Vice  President or Treasurer of such division or any other
title or titles deemed  appropriate,  or may authorize the Chairman of the Board
or the President to do so. Any such titles so conferred may be discontinued  and
withdrawn at any time by the Board of Directors, or by the Chairman of the Board
or the President if so  authorized by the Board of Directors.  Any employee of a
division  designated by such  divisional  title shall have the powers and duties
with respect to such  division as shall be prescribed by the Board of Directors,
or, to the extent  authorized  by the Board of  Directors,  the  Chairman of the
Board or the President.

                                     AI-98