EXHIBIT 10k

               Outline of Duties, Responsibilities and Activities
                 Non-Executive Chairman of Rowan Companies, Inc.
                              Effective May 1, 2003

In addition to the duties, responsibilities and activities provided by the
Corporate By Laws and Board Resolutions, the non-executive chairman is to be
involved actively in the areas of:

         -        Corporate Governance

         -        Management Succession and Transition

         -        Business Development

         -        Investor Relations

         -        Government Relations

         -        Industry Affairs

Corporate Governance

In addition to Chairman of meetings of the Board of Directors and Stockholders,
he will serve as

         Chairman - Executive Committee
         Director of:

                  Rowan Drilling UK Ltd. - London
                  British American Offshore Ltd. - London
                  RDC Marine, Inc.  (Corporate aviation)
                  Aberuchill Ltd. - Perthshire

         Ex-Officio Member - Pension Fund Committee

Management Succession & Transition

Provide advice and counsel, as requested by the Board of Directors and/or
management

Business Development

         -        Focus primarily on eastern Canada, North Sea and Alaska

         -        Oversight corporate entertainment facilities

Investor Relations

         -        Provide advice and counsel upon request

Government Relations

         -        Maintain contacts with certain elected officials and
                  regulatory agencies



Industry Affairs

Continue involvement with:

         -        American Bureau of Shipping (ABS) - Member and Council

         -        American Petroleum Institute (API) - Directors

         -        National Petroleum Council (NPC) - Member and Chairman of
                  Appointment Committee

         -        National Ocean Industries Association (NOIA) - past Chairman

         -        International Association of Drilling Contractors (IADC) -
                  past President

         -        World Presidents Organization (WPO) - Houston Chapter and
                  International member

Compensation and Benefits

As authorized by the Compensation Committee, to include

         -        Vesting of all existing stock options and convertible
                  debentures as of May 1, 2003

         -        Compensation at the rate of $250,000/year, payable monthly
                  beginning May 1, 2003

         -        Standard post retirement medical benefits w/Medicare primary

         -        Use of current office and administrative assistant/secretary

         -        Additional compensation in accordance with that provided to
                  non-employee directors

Other

         -        Reasonable personal use of company personnel or facilities for
                  non-business activities. The Company to be reimbursed at a
                  rate approximating the incremental cash cost of such goods and
                  services. Included in such personal use is the corporate
                  aircraft on an "if available" basis. Reimbursement to be at
                  the standard intra-company allocation rates (approximately
                  1.25 x fuel cost).

         -        Reimbursement of all reasonable business related expenses,
                  excluding club membership dues, subject to review and approval
                  of the Board of Directors.