exv10w23






Exhibit 10.23




Apache Corporation Money Purchase Retirement Plan




Amendment



Apache Corporation (“Apache”) sponsors the Apache Corporation Money Purchase Retirement Plan (the
“Plan”). In section 9.4 of the Plan, Apache reserved the right to amend the Plan from time to
time. Apache hereby exercises that right by amending the Plan as follows.





	1.	 	Effective as of January 1, 2002, section 6.5(c)(i) is replaced by the following.






	 	(i)	 	Participants, Spouses, and Alternate Payees. For a
Participant, an Alternate Payee who is the Spouse or former Spouse of the
Participant, or a surviving Spouse of a deceased Participant, an eligible
retirement plan is an individual retirement account or annuity described in
Code §408(a) or §408(b), a Roth IRA, an annuity plan described in Code
§403(a), an annuity contract described in Code §403(b), an eligible plan
under Code §457(b) that is maintained by an eligible employer described in
Code §457(e)(1)(A) (which generally includes state and local governments), or
the qualified trust of a defined contribution plan described in Code §401(a),
that accepts eligible rollover distributions.






	2.	 	Effective as of January 1, 2002, section 11.2 is replaced by the following.






	 	11.2	 	Determination of Top-Heavy Status.
	 
	 	 	 	The Plan shall be considered “top-heavy” for a Plan Year if, as of the last day of the
prior Plan Year, the aggregate of the Account balances (as calculated according to the
regulations under Code §416) of Key Employees under this Plan (and under all other plans
required or permitted to be aggregated with this Plan) exceeds 60% of the aggregate of
the Account balances (as calculated according to the regulations under Code §416) in
this Plan (and under all other plans required or permitted to be aggregated with this
Plan) of all current Employees and all former Employees who had performed services for
Apache or an Affiliated Entity within the one-year period ending on the last day of the
prior Plan Year. This ratio shall be referred to as the “top-heavy ratio”. For
purposes of determining the account balance of any Participant, (a) the balance shall be
determined as of the last day of the prior Plan Year, (b) the balance shall also include
any distributions to the Participant during the one-year period ending on the last day
of the prior Plan Year, and (c) the balance shall also include, for distributions made
for a reason other than severance of employment or death or disability, any
distributions to the Participant during the five-year period ending on the last day of
the prior Plan Year. This shall also apply to distributions under a terminated plan
that, if it had not been terminated, would have been required to be included in an
aggregation group. The Account balances of a Participant who had once been a Key
Employee, but who is not a Key Employee during the Plan Year, shall not be taken into
account. The following plans must be aggregated with this Plan for the top-heavy test:
(a) a qualified plan maintained by the Company or an Affiliated Entity in which a Key
Employee participated during this Plan Year or during the previous four Plan Years and
(b) any other qualified plan maintained by the Company or an Affiliated Entity that
enables this Plan or any plan described in clause (a) to meet the requirements of Code
§401(a)(4) or §410. The following plans may be aggregated with this Plan for the
top-heavy test: any qualified plan maintained by the Company or an Affiliated Entity
that, in combination with the Plan or any plan required to be aggregated with this Plan
when testing this Plan for top-heaviness, would satisfy the requirements of Code
§401(a)(4) and §410. If one or more of the plans required or permitted to be aggregated
with this Plan is a defined benefit plan, a Participant’s “account balance” shall equal
the present value of the Participant’s accrued benefit. If the aggregation group
includes more than one defined benefit plan, the same actuarial assumptions shall be
used with respect to each such defined benefit plan. The foregoing top-heavy ratio
shall be computed in accordance with the provisions of Code §416(g), together with the
regulations and rulings thereunder.




 









 












	3.	 	Effective as of January 1, 2009, Article XIII is replaced by the following.





ARTICLE XIII

Uniformed Services Employment and Reemployment Rights Act of 1994





	 	13.1	 	General.






	 	(a)	 	Scope. The Uniformed Services Employment and Reemployment
Rights Act of 1994 (the “USERRA”), which is codified at 38 USCA §§4301-4318,
confers certain rights on individuals who leave civilian employment to perform
certain services in the Armed Forces, the National Guard, the commissioned corps of
the Public Health Service, or in any other category designated by the President of
the United States in time of war or emergency (collectively, the “Uniformed
Services”). An Employee who joins the Uniformed Services shall be referred to as a
“Serviceman” in this Article. This Article shall be interpreted to provide such
individuals with all the benefits required by the USERRA but no greater benefits
than those required by the USERRA. This Article shall supersede any contrary
provisions in the remainder of the Plan.
	 
	 	(b)	 	Rights of Servicemen. When a Serviceman leaves the Uniformed
Services, he may have reemployment rights with the Company or Affiliated Entities,
depending on many factors, including the length of his stay in the Uniformed
Services and the type of discharge he received. When this Article speaks of the
date a Serviceman’s potential USERRA reemployment rights expire, it means the date
on which the Serviceman fails to qualify for reemployment rights (if, for example,
he is dishonorably discharged, or, in general, remains in the Uniformed Services
for more than 5 years) or, if the Serviceman obtains reemployment rights, the date
his reemployment rights lapse because the Serviceman failed to timely exercise
those rights.






	 	13.2	 	While a Serviceman.
	 
	 	 	 	In general, a Serviceman shall be treated as an Employee while he continues to receive
wages or Differential Pay from the Company or an Affiliated Entity, and once the
Serviceman’s wages and Differential Pay from the Company or Affiliated Entity cease, the
Serviceman shall be treated as if he were on an approved, unpaid leave of absence. For
purposes of this Article, “Differential Pay” means the pay received by a Serviceman from
Apache and Affiliated Entities, pursuant to their military leave policies, that is
generally equal to the difference between his pay from the Armed Forces and his regular
pay from Apache and Affiliated Entities before his military leave began. Differential
Pay must also come within the meaning of “differential wage payment” in Code
§3401(h)(2). The definition of “Compensation” in Article I shall include Differential
Pay for all purposes.






	 	(a)	 	Company Contributions. Wages and Differential Pay paid by the
Company to a Serviceman shall be included in his Compensation as if the Serviceman
were an Employee. If the Employee was a Covered Employee when he became a
Serviceman and his wages or Differential Pay continue through the last business day
of a Plan Year, then (i) the Serviceman shall be treated as an “eligible
Participant” under subsection 3.1(a) for that Plan Year (and shall therefore
receive an allocation of Company Mandatory Contributions); and (ii) he shall be
treated as an Employee under subsection 11.4(a) (and, if he is a Non-Key Employee,
he shall therefore receive any minimum required allocation if the Plan is
top-heavy).
	 
	 	(b)	 	Investments. If the Serviceman has an account balance in the
Plan, he is an Account Owner and may therefore direct the investment of his
Accounts pursuant to section 8.3.
	 
	 	(c)	 	Distributions and Withdrawals. For purposes of Article VI
(relating to distributions and in-service withdrawals), the Serviceman shall be
treated as an Employee until the day on which his potential USERRA reemployment
rights expire. See section 15.3 once his potential USERRA rights expire.
	 
	 	(d)	 	QDROs. QDROs shall be processed while the Participant is a
Serviceman. The Committee has the discretion to establish special procedures under
subsection 12.9(e) for Servicemen, by, for example, extending the usual deadlines
to accommodate any practical difficulties encountered by the Serviceman that are
attributable to his service in the Uniformed Services.




 









 












	 	(e)	 	Death or Disability. If a Serviceman dies or becomes disabled
while he is a Serviceman, his Account shall be fully vested. In addition, the
Serviceman will be treated as if he had returned to active employment and then died
or became disabled, with the result that he will receive the make-up contributions
under subsections 13.4(c) and 13.4(d).






	 	13.3	 	Expiration of USERRA Reemployment Rights.






	 	(a)	 	Consequences. If a Serviceman is not reemployed before his
potential USERRA reemployment rights expire, the Committee shall determine his
Termination From Service Date by treating his service in the Uniformed Services as
an approved leave of absence but treating the expiration of his potential USERRA
reemployment rights as the failure to timely return from his leave of absence, with
the consequence that his Termination From Service Date will generally be the date
his potential USERRA rights expired. Once his Termination From Service Date has
been determined, the Committee shall determine his vested percentage. For purposes
of Article VI (relating to distributions), the day the Serviceman’s potential
USERRA reemployment rights expired shall be treated as the day of his Termination
from Service. For purposes of subsection 5.2(c) (relating to the timing of
forfeitures), the Serviceman’s last day of employment shall be the day his
potential USERRA reemployment rights expired.
	 
	 	(b)	 	Rehire after Expiration of Reemployment Rights. If the Company
or an Affiliated Company hires a former Serviceman after his potential USERRA
reemployment rights have expired, he shall be treated like any other former
employee who is rehired.






	 	13.4	 	Return From Uniformed Service.
	 
	 	 	 	This section applies solely to a Serviceman who returns to employment with the Company
or an Affiliated Entity because he exercised his reemployment rights under the USERRA.






	 	(a)	 	Credit for Service. A Serviceman’s length of time in the
Uniformed Services shall be treated as service with the Company for purposes of
vesting and determining his eligibility to participate in the Plan upon
reemployment.
	 
	 	(b)	 	Participation. If the Serviceman satisfies the eligibility
requirements of section 2.1 before his reemployment, and he is a Covered Employee
upon his reemployment, he may participate in the Plan immediately upon his return.
	 
	 	(c)	 	Make-Up Company Mandatory Contribution. The Company shall
contribute an additional contribution to a Serviceman’s Accounts equal to the
Company Mandatory Contribution (including any forfeitures treated as Company
Mandatory Contributions) that would have been allocated to such Account if the
Serviceman had remained employed during his time in the Uniformed Services, and had
earned his Deemed Compensation during that time. See subsection (e) for guidance
on applying the various limits contained in the Code to the calculation of the
additional discretionary contribution.
	 
	 	(d)	 	Make-Up Miscellaneous Contributions. The Company shall
contribute to the Serviceman’s Accounts any top-heavy minimum contribution he would
have received pursuant to section 11.4, (including any forfeitures treated as
top-heavy minimum contributions) if he had remained employed during his time in the
Uniformed Services, and had earned Deemed Compensation during that time. See
subsection (e) for guidance on applying the various limits contained in the Code to
the calculation of the top-heavy minimum contribution.
	 
	 	(e)	 	Application of Limitations.






	 	(i)	 	The make-up contributions under subsections (c) and (d)
(the “Make-Up Contributions”) shall be ignored for purposes of determining
the Company’s maximum contribution under subsection 3.1(c), the limits on
Annual Additions under section 3.4, the non-discrimination requirements of
Code §401(a)(4), and (if the Serviceman is a Key Employee) calculating the
minimum required top-heavy contribution under section 11.4.
	 
	 	(ii)	 	In order to determine the maximum Make-Up Contributions,
the following limitations shall apply.




 









 












	 	(A)	 	The Serviceman’s “Aggregate Compensation” for
each year shall be calculated. His Aggregate Compensation shall be
equal to his actual Compensation, plus his Deemed Compensation that
would have been paid during that year. Each type of Aggregate
Compensation (for benefit purposes, for purposes of determining whether
the Serviceman is a Highly Compensated Employee, etc.) shall be
determined separately.
	 
	 	(B)	 	The Serviceman’s Aggregate Compensation each
Plan Year shall be limited to the dollar limit in effect for that Plan
Year under Code §401(a)(17), for the purposes and in the manner
specified in subsection 1.11(f).
	 
	 	(C)	 	The limits of subsection 3.1(c) (relating to
the maximum contribution by the Company to the Plan) for each Plan Year
shall be calculated by using the Serviceman’s Aggregate Compensation
for that Plan Year, and by treating the Make-Up Contributions that are
attributable to that Plan Year’s Deemed Compensation as having been
made during that Plan Year.
	 
	 	(D)	 	The limits of section 3.4 (relating to the
maximum Annual Additions to a Participant’s Accounts) shall be
calculated for each Limitation Year by using the Serviceman’s Aggregate
Compensation for that Limitation Year, and by treating as Annual
Additions all the Make-Up Contributions that are attributable to that
Limitation Year’s Deemed Compensation.






	 	(f)	 	Deemed Compensation. A Serviceman’s Deemed Compensation is the
Compensation that he would have received (including raises) had he remained
employed by the Company or Affiliated Entity during his time in the Uniformed
Services, unless it is not reasonably certain what his Compensation would have
been, in which case his Deemed Compensation shall be based on his average rate of
compensation during the 12 months (or, if shorter, his period of employment with
the Company and Affiliated Entities) immediately before he entered the Uniformed
Services. A Serviceman’s Deemed Compensation shall be reduced by any Compensation
actually paid to him during his time in the Uniformed Services (such as vacation
pay, wages, and Differential Pay). Deemed Compensation shall cease when the
Serviceman’s potential USERRA reemployment rights expire. Each type of Deemed
Compensation (for benefit purposes, for purposes of determining if the Serviceman
is a Highly Compensated Employee, etc.) shall be determined separately.





EXECUTED this 29th day of January, 2009.



	 	 	 	 	 
	 	APACHE CORPORATION

 	 
	 	By:  	/s/ Margery M. Harris
 	 
	 	 	Title: Vice President — Human Resources