Document:

exv10w2

Exhibit 10.2

Form of

Request for Approval of Extension of Maturity Date and Amendment

February 18, 2008

VIA INTRALINKS

THE COMBINED LENDERS UNDER

THE APACHE CORPORATION GLOBAL

CREDIT FACILITY

     Re: Apache Corporation 2005 Global Credit Facility

Ladies and Gentlemen:

     Reference is made to (i) that certain Credit Agreement [U.S. Credit Agreement], dated as of
May 12, 2005 (together with all amendments, if any, from time to time made thereto, the “U.S.
Credit Agreement”), among Apache Corporation (the “U.S. Borrower”), the lenders party
thereto (the “U.S. Lenders”), JPMorgan Chase Bank, N.A., as Global Administrative Agent
(the “Global Administrative Agent”), and the other agents party thereto; (ii) that certain
Credit Agreement [Australian Credit Agreement], dated as of May 12, 2005 (together with all
amendments, if any, from time to time made thereto, the “Australian Credit Agreement”),
among Apache Energy Limited (the “Australian Borrower”), the Australian Lenders party
thereto, the Global Administrative Agent, Citisecurities Limited, as Australian Administrative
Agent (the “Australian Administrative Agent”), and the other agents party thereto; and
(iii) that certain Credit Agreement [Canadian Credit Agreement], dated as of May 12, 2005 (together
with all amendments, if any, from time to time made thereto, the “Canadian Credit
Agreement” and, together with the U.S. Credit Agreement and the Australian Credit Agreement,
the “Combined Credit Agreements”), among Apache Canada Ltd. (the “Canadian
Borrower”), the Canadian Lenders party thereto, the Global Administrative Agent, Royal Bank of
Canada, as Canadian Administrative Agent (the “Canadian Administrative Agent”), and the
other agents party thereto. Terms defined in the U.S. Credit Agreement are used herein with the
same meanings.

I. Extension of the Global Credit Facility

     In the February 18, 2008 Annual Certificate of Extension delivered to the Global
Administrative Agent, the Australian Administrative Agent and the Canadian Administrative Agent
which is attached hereto as Exhibit A, Borrower requested pursuant to Section 2.6 of each
of the U.S. Credit Agreement, the Australian Credit Agreement and the Canadian Credit Agreement,
respectively, the extension of the Maturity Date, and concomitantly the total “Commitments” (as
defined under each of the Combined Credit Agreements), under each of the U.S. Credit Agreement, the
Australian Credit Agreement and the Canadian Credit Agreement, respectively, from May 12, 2012 to
May 12, 2013. Each of the U.S. Borrower, the Australian
Borrower and the Canadian Borrower hereby certify that no Event of Default has occurred and is
continuing under the Combined Credit Agreements.

 

 

THE COMBINED LENDERS UNDER THE APACHE

CORPORATION GLOBAL CREDIT FACILITY

February 18, 2008

Page 2

     This letter is to confirm that the Combined Lenders hereby agree to the extension of the
Maturity Date under each of the Combined Credit Agreements and the related “Commitments” of the
Combined Lenders from May 12, 2012 to May 12, 2013.

II. Amendment of the Global Credit Facility

     The U.S. Borrower, the Australian Borrower, the Canadian Borrower, the Global Administrative
Agent, the Australian Administrative Agent, the Canadian Administrative Agent and the Combined
Required Lenders hereby agree as follows:

     A. Amendment to U.S. Credit Agreement. The definition of “Restricted
Subsidiary” contained in Section 1.1 of the U.S. Credit Agreement is amended in its entirety to
read as follows:

““Restricted Subsidiary” means any Subsidiary of Borrower that owns any
asset representing or consisting of an entitlement to production from, or other
interest in, reserves of oil, gas or other minerals in place located in the United
States or Canada, including, without limitation, Apache Canada.”

     B. Amendments to Australian Credit Agreement.

     (i) The definition of “Restricted Subsidiary” contained in Section 1.1 of the
Australian Credit Agreement is amended in its entirety to read as follows:

““Restricted Subsidiary” means any Subsidiary of Parent that owns any asset
representing or consisting of an entitlement to production from, or other interest
in, reserves of oil, gas or other minerals in place located in the United States or
Canada, including, without limitation, with respect to the Parent, the Canadian
Borrower.”

     (ii) Section 2.21(a) of Australian Credit Agreement is amended by replacing the phrase
“U.S.$300,000,000” with “U.S.$400,000,000”.

     (iii) Section 5.3 of the Australian Credit Agreement is amended in its entirety to read as
follows:

     “SECTION 5.3 [Intentionally omitted].”

     (iv) Section 7.1 of the Australian Credit Agreement is amended in its entirety to read as
follows:

     “SECTION 7.1 [Intentionally omitted].”

 

 

THE COMBINED LENDERS UNDER THE APACHE

CORPORATION GLOBAL CREDIT FACILITY

February 18, 2008

Page 3

     (v) Section 7.2 of the Australian Credit Agreement is amended in its entirety to read as
follows:

“SECTION 7.2 Mergers. Borrower will not liquidate or dissolve, amalgamate
with, consolidate with, or merge into or with, any other Person, or sell, lease or
otherwise transfer all or substantially all of its assets unless (a) Borrower is the
survivor of such amalgamation, merger or consolidation, and (b) no Default or Event
of Default has occurred and is continuing or would occur after giving effect
thereto. Notwithstanding the foregoing, nothing herein shall prohibit any transfer
of any assets from any Borrower to any Subsidiary of such Borrower, from any
Subsidiary of a Borrower to such Borrower or from a Subsidiary of a Borrower to
another Subsidiary of such Borrower.”

     (vi) Section 7.3 of the Australian Credit Agreement is amended in its entirety to read as
follows:

     “SECTION 7.3 [Intentionally omitted].”

     (vii) Section 7.5 of the Australian Credit Agreement is amended by deleting the second
sentence thereof in its entirety.

     (viii) Section 7.6 of Australian Credit Agreement is amended by deleting the phrase “and
Borrower” from the first line thereof.

     (ix) The Australian Credit Agreement hereby is amended by replacing Exhibit 2.21 to Australian
Credit Agreement with the Exhibit 2.21 attached to this letter agreement.

     C. Amendment to Canadian Credit Agreement. The definition of “Restricted
Subsidiary” contained in Section 1.1 of the Canadian Credit Agreement is amended in its
entirety to read as follows:

““Restricted Subsidiary” means any Subsidiary of Borrower or Parent that
owns any asset representing or consisting of an entitlement to production from, or
other interest in, reserves of oil, gas or other minerals in place located in the
United States or Canada, including, without limitation, with respect to the Parent,
the Borrower.”

     This letter agreement shall be deemed to be an amendment to the Combined Credit Agreements,
and the Combined Credit Agreements, as amended hereby, are hereby ratified, approved and confirmed
in each and every respect. All references to the Combined Credit Agreements herein and in any
other document, instrument, agreement or writing shall hereafter be deemed to refer to the Combined
Credit Agreements as amended hereby.

 

 

THE COMBINED LENDERS UNDER THE APACHE

CORPORATION GLOBAL CREDIT FACILITY

February 18, 2008

Page 4

     Please indicate your consent to (i) the extension of the Maturity Date under each of the
Combined Credit Agreements and the related Commitments of the Combined Lenders from May 12, 2012 to
May 12, 2013 and (ii) to the amendments outlined above by having an authorized signatory of your
financial institution execute this letter in the space provided below and returning the executed
page by the end of business on Tuesday, March 4, 2008, (i) via telecopy to Frank Bradley at (713)
754-6630, and (ii) via courier to: Greenberg Traurig LLP, 1000 Louisiana, Suite 1700, Houston,
Texas 77002, Attention: Frank Bradley.

     This letter may be executed in any number of counterparts and all such counterparts shall
together constitute but one and the same letter.

     By execution hereof, the Global Administrative Agent acknowledges its agreement and consent to
the request for extension and to the amendments outlined above in its capacity as a U.S. Lender and
as Global Administrative Agent, respectively.

     If you have any questions, please do not hesitate to contact either Lisa Kopff of the Global
Administrative Agent at (212) 270-6091, Pete Czerniakowski of Apache Corporation at (713) 296-6642
or Frank Bradley at Greenberg Traurig LLP at (713) 374-3630.

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A., as Global
Administrative
Agent and as a U.S. Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

THE COMBINED LENDERS UNDER THE APACHE

CORPORATION GLOBAL CREDIT FACILITY

February 18, 2008

Page 5

	 	 	 	 	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	BANK OF AMERICA, N.A., as a U.S. Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	CITIBANK, N.A., as a U.S. Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	CALYON NEW YORK BRANCH, as a U.S. Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

THE COMBINED LENDERS UNDER THE APACHE

CORPORATION GLOBAL CREDIT FACILITY

February 18, 2008

Page 6

	 	 	 	 	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	SOCIÉTÉ GÉNÉRALE, as a U.S. Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	MORGAN STANLEY BANK, as a U.S. Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	BANCO BILBAO VIZCAYA ARGENTARIA
S.A., as a U.S. Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

THE COMBINED LENDERS UNDER THE APACHE

CORPORATION GLOBAL CREDIT FACILITY

February 18, 2008

Page 7

	 	 	 	 	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	WACHOVIA BANK, NATIONAL ASSOCIATION, as a U.S. Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	SUMITOMO MITSUI BANKING CORPORATION, as a U.S. Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	THE ROYAL BANK OF SCOTLAND PLC, as a U.S. Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

THE COMBINED LENDERS UNDER THE APACHE

CORPORATION GLOBAL CREDIT FACILITY

February 18, 2008

Page 8

	 	 	 	 	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	BAYERISCHE LANDESBANK — CAYMAN ISLANDS BRANCH, as a

U.S. Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	ABN AMRO BANK N.V., as a U.S. Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

THE COMBINED LENDERS UNDER THE APACHE

CORPORATION GLOBAL CREDIT FACILITY

February 18, 2008

Page 9

	 	 	 	 	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	FIFTH THIRD BANK, as a U.S. Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	WILLIAM STREET COMMITMENT CORPORATION, as a U.S.

Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	WELLS FARGO BANK, NA, as a U.S. Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

THE COMBINED LENDERS UNDER THE APACHE

CORPORATION GLOBAL CREDIT FACILITY

February 18, 2008

Page 10

	 	 	 	 	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	THE BANK OF NEW YORK, as a U.S. Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	AMEGY BANK NATIONAL ASSOCIATION, as a U.S. Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	MIZUHO CORPORATE BANK, LTD., as a U.S. Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

THE COMBINED LENDERS UNDER THE APACHE

CORPORATION GLOBAL CREDIT FACILITY

February 18, 2008

Page 11

	 	 	 	 	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	ROYAL BANK OF CANADA, as a U.S. Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	DEUTSCHE BANK AG NEW YORK BRANCH, as a U.S. Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

THE COMBINED LENDERS UNDER THE APACHE

CORPORATION GLOBAL CREDIT FACILITY

February 18, 2008

Page 12

	 	 	 	 	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	BMO CAPITAL MARKETS FINANCING,
INC. (f/k/a HARRIS
NESBITT FINANCING, INC.), as a U.S. Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	UNION BANK OF CALIFORNIA, N.A., as a U.S. Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

THE COMBINED LENDERS UNDER THE APACHE

CORPORATION GLOBAL CREDIT FACILITY

February 18, 2008

Page 13

	 	 	 	 	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	BNP PARIBAS, as a U.S. Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	CITISECURITIES LIMITED (ABN 51 008 489 610), as

Australian Administrative Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

THE COMBINED LENDERS UNDER THE APACHE

CORPORATION GLOBAL CREDIT FACILITY

February 18, 2008

Page 14

	 	 	 	 	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	DEUTSCHE BANK AG, SYDNEY BRANCH
(ABN 13 064 165 162), as an Australian Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	JPMORGAN CHASE BANK (ARBN 074 112 011), as an
Australian Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

THE COMBINED LENDERS UNDER THE APACHE

CORPORATION GLOBAL CREDIT FACILITY

February 18, 2008

Page 15

	 	 	 	 	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	BANK OF AMERICA, N.A., SYDNEY
BRANCH (ARBN 064 874 531), as an Australian Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	UBS AG, AUSTRALIA BRANCH (ABN 47 088 129 613), as an
Australian Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

THE COMBINED LENDERS UNDER THE APACHE

CORPORATION GLOBAL CREDIT FACILITY

February 18, 2008

Page 16

	 	 	 	 	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	CITIBANK, N.A. (ARBN 072 814 058), as an Australian

Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	BARCLAYS BANK PLC, AUSTRALIAN BRANCH (ABN 86062 449
585), as an Australian Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

THE COMBINED LENDERS UNDER THE APACHE

CORPORATION GLOBAL CREDIT FACILITY

February 18, 2008

Page 17

	 	 	 	 	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	ROYAL BANK OF CANADA, as Canadian Administrative
Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	ROYAL BANK OF CANADA, as a Canadian Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	BANK OF MONTREAL, as a Canadian Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

THE COMBINED LENDERS UNDER THE APACHE

CORPORATION GLOBAL CREDIT FACILITY

February 18, 2008

Page 18

	 	 	 	 	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	UNION BANK OF CALIFORNIA, N.A., CANADA BRANCH, as a
Canadian Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	THE TORONTO-DOMINION BANK, as a Canadian Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	BNP PARIBAS (CANADA), as a Canadian Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

THE COMBINED LENDERS UNDER THE APACHE

CORPORATION GLOBAL CREDIT FACILITY

February 18, 2008

Page 19

	 	 	 	 	 

THE UNDERSIGNED AGREES AND CONSENTS TO (i) THE REQUESTED EXTENSION OF THE MATURITY DATE AND
COMMITMENTS UNDER THE COMBINED CREDIT AGREEMENTS AND (ii) TO THE AMENDMENTS OUTLINED ABOVE, EACH AS
OF THIS                      DAY OF
                                        
, 2008.

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A., TORONTO BRANCH, as a
Canadian Lender

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	ACKNOWLEDGED AND AGREED:

APACHE CORPORATION, as U.S. Borrower

 	 	 
	By:  	 	 	 
	 	Name:  	Matthew W. Dundrea 	 	 
	 	Title:  	Vice President and Treasurer 	 	 
	 
	APACHE ENERGY LIMITED (ACN 009 301 964), as Australian Borrower

 	 	 
	By:  	 	 	 
	 	Name:  	Matthew W. Dundrea 	 	 
	 	Title:  	Vice President and Treasurer 	 	 
	 
	APACHE CANADA LTD., as Canadian Borrower

 	 	 
	By:  	 	 	 
	 	Name:  	Matthew W. Dundrea 	 	 
	 	Title:  	Vice President and Treasurer 	 	 

 

 

	 	 	 	 	 

EXHIBIT A

Annual Certificate of Extension — 2008

[see attached]

Exhibit A - Page 1

 

EXHIBIT 2.21

NOTICE OF COMMITMENT INCREASE

Citisecurities Limited (ABN 51 008 489 610),

as Australian Administrative Agent

Level 23, 2 Park Street

Sydney N.S.W. 2000

Australia

Attention: Agency/Maria Mills/Trevor Dutton

Fax No: 61 2 8225 5244

Citicorp International Limited

13/F., Two Harbourfront

22 Tak Fung Street

Hunghom, Kowloon

Hong Kong

Attention: Dixon Koon/Maggie Tai

Facsimile: +852 2621 3183/4

JPMorgan Chase Bank, N.A.,

as Global Administrative Agent

for the Lenders referred to below

c/o Loan & Agency Services Group

1111 Fannin Street, 10th Floor

Houston, Texas 77002-8069

Attention: Rose Salvacion

Telephone: (713) 750-2501

Facsimile: (713) 427-6307

APACHE ENERGY LIMITED (ACN 009 301 964)

Dear Sirs:

     This Notice of Commitment Increase is delivered to you pursuant to Section 2.21 of
that certain Credit Agreement, dated as of May 12, 2005 (together with all amendments, if any, from
time to time made thereto, the “Credit Agreement”), among Apache Energy Limited (ACN 009
301 964), the Lenders party thereto, JPMorgan Chase Bank, N.A., as Global Administrative Agent,
Citisecurities Limited (ABN 51 008 489 610), as Australian Administrative Agent, and the other
agents and lenders party thereto. Terms defined in the Credit Agreement are used herein with the
same meanings.

Exhibit 2.21 - Page 1

 

     Please be advised that Borrower hereby requests an increase effective                     ,
20                    1 in the aggregate Commitments under the Credit Agreement from $                                         to
$                    .2

     [CI Lender] has agreed [Language for existing Lender] [(a)
to increase effective                     , 20___its Commitment under the Credit Agreement from
$                                         to $                     and (b) that it shall continue to be a party in all respects to
the Credit Agreement and the other Loan Documents] [Language if CI Lender is a new Lender]
[effective                     , 20___(a) to become a Lender under the Credit Agreement with a Commitment of
$                     and (b) that it shall be deemed to be a party in all respects to the Credit Agreement
and the other Loan Documents.]

     The parties hereto have caused this Notice of Commitment Increase to be executed and
delivered, and the certification and warranties contained herein to be made, by its Authorized
Officer this ___day of                     , 200_.

	 	 	 	 	 
	 	APACHE ENERGY LIMITED (ACN 009 301 964)

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[Any other Additional Borrowers (ACN                     )

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	] 	 
	 
	 	APACHE CORPORATION, as Parent and party to Deed of
Guaranty

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

			
	1	 	Such date shall be no earlier than five (5) Business
Days after receipt by the Global Administrative Agent and the Australian
Administrative Agent of such Notice of Commitment Increase (unless an earlier
date is otherwise agreed to by the Borrower, any applicable Lender or CI
Lender, the Global Administrative Agent, and the Australian Administrative
Agent).
	 
	2	 	After giving effect to the requested Commitment
Increase, the total amount of the Commitments shall not exceed $400,000,000.

Exhibit 2.21 - Page 2

 

	 	 	 	 	 
	 	ACKNOWLEDGED AND AGREED:

[Name of CI Lender]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	JPMORGAN CHASE BANK, N.A., as Global Administrative Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	CITISECURITIES LIMITED (ABN 51 008 489 610), as Australian Administrative Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Exhibit 2.21 - Page 3exv10w3

Exhibit 10.3

Apache Corporation

2008 Share Appreciation Program Specifications

	 	 	 
	Share Plan:

	 	2007 Omnibus Equity Compensation Plan, the terms of
which are incorporated herein by reference.
	 
	 	 
	Administration:

	 	The 2008 Share Appreciation Program will be
administered by the Stock Option Plan Committee of
the Company’s Board of Directors.
	 
	 	 
	Eligible Participants:

	 	Substantially all full-time and designated
part-time employees of Apache Corporation and
certain subsidiaries.
	 
	 	 
	Objective:

	 	Focus the energies of the Company’s employees to
significantly increasing shareholder value through
stock price appreciation to share prices of $162
and $216.
	 
	 	 
	 

	 	Share price goals seek to increase shareholder value by approximately
$18.0 to $36.0 billion with the Company’s employees sharing in
approximately two percent of the additional shareholder value created
at the $216 threshold.
	 
	 	 
	 

	 	Continued retention of existing key employees and as an additional
enhancement in the recruitment of talent to Apache in a competitive
recruiting environment.
	 
	 	 
	Conditional Award:

	 	Restricted shares of Apache Corporation common stock based on a percentage or
multiple of annual base salary.
	 
	 	 
	Share Price Thresholds:

	 	Initial: $162 for the Measurement Period by year end 2010

Final: $216 for the Measurement Period by year end 2012
	 
	 	 
	Measurement Period:

	 	Any ten trading days during a period of 30 consecutive trading days.
	 
	 	 
	Plan Term:

	 	Expires close of business December 31, 2012, except for payment of any
remaining installments for price threshold(s) achieved prior to such date.
	 
	 	 
	Vesting:

	 	Grant vests at time that share price threshold is met.
	 
	 	 
	Payment Schedule:

	 	When share price thresholds are met, awards will be paid out in five
installments:

	 	 	 	 	 
	 

	 	•
	 	20% at attainment (within 30 days of event)
	 

	 	•
	 	20% 12 months after attainment
	 

	 	•
	 	20% 24 months after attainment
	 

	 	•
	 	20% 36 months after attainment
	 

	 	•
	 	20% 48 months after attainment

	 	 	 
	 

	 	Notes: A portion of the shares will be withheld to cover required
taxes and the net number of shares will be paid to the participant.
Cash bonus plans will be implemented for employees of Apache
subsidiaries that are not eligible to participate in the 2008 Share
Appreciation Program.

1

 

Apache Corporation

2008 Share Appreciation Program Specifications

	 	 	 
	Participation Levels:

	 	Tier I: Officers, key technical professionals and senior managers
	 
	 	 
	 

	 	Tier II: Mid-level managers, supervisors and key administrative
professionals
	 
	 	 
	 

	 	Tier III: Entry level professionals, office administrative staff and
field operators

Pay Out Multiples as a Percentage of Base Salary1:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Share Price Threshold	 	Tier I	 	Tier II	 	Tier III
	Initial $162
	 	 	1.00	 	 	 	.50	 	 	 	.25	 
	Final $216
	 	 	2.00	 	 	 	1.00	 	 	 	.50	 
	Total
	 	 	3.00	 	 	 	1.50	 	 	 	.75	 

 

			
	1	 	Conditional Grant based on Base Salary as of the date
of grant

	 	 	 
	 

	 	Participation Proration: The Committee, in its discretion, is
authorized to reduce future conditional awards (to new employees, for
example) to prorate grants as it deems appropriate. Any eligibility
to participate in the Program will end for employees hired after
September 30, 2011.
	 
	 	 
	Number of Shares

	 	Estimate of 2.77 million shares (before shares
withheld to cover required taxes) of Apache common
stock are required for issuance under the Program if
both the Initial and Final thresholds are achieved.
	 
	 	 
	Conditional Grants:

	 	Grants are made based on Base Salary as of the date of
grant, times the applicable multiple, divided by $162
for Initial award and $216 for Final award.
	 
	 	 
	Payout requirement:

	 	Must be an active employee on the date the price
threshold is achieved and on each award payout date.
First installment to be paid within 30 days of achievement of each price
threshold.
	 
	 	 
	Accelerated Payments:

	 	If price threshold is attained prior to death,
disability, or retirement, then payment is
accelerated for:

	 	 	 	 	 
	 

	 	•
	 	Disability
	 
	 

	 	•
	 	Death
	 
	 

	 	•
	 	Retirement (age 65 or more)

2

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