EXHIBIT 10.1
EMPLOYMENT AGREEMENT
This Employment Agreement (this “Agreement”) is entered into by and between Bristow Group
Inc., a Delaware corporation f/k/a Offshore Logistics, Inc. (the “Company”) and Perry L. Elders, an
individual (the “Executive”), effective as of the 16th day of February 2006 “Effective Date”).
Except as otherwise provided herein, capitalized terms used herein shall have the meaning specified
in Section 10.
WHEREAS, the Company desires to employ the Executive and to enter into an employment agreement
embodying the terms of such employment and services; and
WHEREAS, the Executive desires to accept such employment and service in the position described
on Exhibit A attached to this Agreement and incorporated herein by reference (“Exhibit A”) and to
enter into this Agreement.
NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein and for
other good and valuable consideration, the receipt of which is mutually acknowledged, the Company
and the Executive agree as follows:
1. Employment, Duties and Acceptance.
(a) Employment Period.
(i) The Company hereby agrees to employ the Executive for a term commencing on the
Effective Date and expiring at the end of the day on the second anniversary of the Effective
Date (the “Initial Employment Period”).
(ii) The Initial Employment Period shall be automatically further extended at the end
of the Initial Employment Period and on each anniversary thereafter (each such date being a
“Renewal Date”), so as to terminate one (1) year from such Renewal Date, unless at least
ninety (90) days prior to a Renewal Date either Party gives a Notice of Non-Renewal to the
other Party that the Employment Period should not be further extended after the next Renewal
Date, in which event the end of the term of the Executive’s employment by the Company shall
be the Renewal Date next following such Notice of Non-Renewal. As used in this Agreement,
the “Employment Period” shall mean the period beginning on the Effective Date and ending on
the expiration of the term of the Executive’s employment with the Company pursuant to this
Section 1(a), subject to earlier termination of the Executive’s employment with the Company
pursuant to Section 3 hereof.