On September 30, 2015, Ms. Kim B. Clarke announced that effective March 31, 2016 (the Separation Date), she will resign from her position as Senior Vice President, Administration and Chief People Officer of Key Energy Services Inc. for good reason, as defined in her previously disclosed employment agreement dated effective as of December 31, 2007, and amended March 29, 2010. In association with the Company's recent organizational changes, some of Ms. Clarke's responsibilities changed which triggered her termination for good reason under her Employment Agreement.