NOV INC. FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Financial Statements and Exhibits

Item 1.01. Entry into a Material Definitive Agreement

On February 14, 2023, NOV Inc., a Delaware corporation (the "Company"), entered
into a Single Premium Guaranteed Annuity Contract Purchase Agreement (the
"Agreement") with Principal Life Insurance Company (the "Insurer"). The Company
entered into the Agreement as plan sponsor, and in connection with the
termination of the National-Oilwell Defined Benefit Plan (the "Plan") effective
November 30, 2021. The Agreement provides for the purchase of an irrevocable
nonparticipating single premium group annuity contract (the "Annuity Contract")
from the Insurer for a premium amount of approximately $184.0 million payable
with Plan assets on February 14, 2023. Pursuant to the Annuity Contract, the
Insurer assumes administrative and monthly benefit liabilities for the 3,240
participants in the terminated Plan. The Agreement provides that the Insurer
will assume the responsibility for making monthly benefit annuity payments to
such terminated Plan participants on May 1, 2023.

The foregoing description of the Agreement does not purport to be complete and
is qualified in its entirety by reference to the full text of the Agreement,
which is attached hereto as Exhibit 10.1.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

10.1      Single Premium Guaranteed Annuity Contract Purchase Agreement, dated
        February 14, 2023.

104     Cover Page Interactive Data File (embedded within the Inline XBRL
        document).

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