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## NOTE 10 EMPLOYEE BENEFIT PLANS 

The Company maintains a noncontributory defined pension plan for substantially all U.S. employees who meet certain age and service requirements. In July 2003, the Company revised the Helmerich & Payne, Inc. Employee Retirement Plan (“Pension Plan”) to close the Pension Plan to new participants effective October 1, 2003, and reduce benefit accruals for current participants through September 30, 2006 at which time benefit accruals will be discontinued and the Pension Plan frozen. 

The following table and other information in this footnote pr ovide information at September 30 as to the Company sponsored domestic defined pension plan as required by SFAS No. 132 (Revised 2003), “Employers’ Disclosures About Pensions and Other Postretirement Benefits.” 

Change in benefit obligation: 

<img src='content_image/97856.jpg'>

Change in plan assets: 

<img src='content_image/97857.jpg'>

Weighted-average assumptions: 

<img src='content_image/97858.jpg'>

