Document:

Executive Short-Term Incentive Plan

 EXHIBIT 10.2 
 SPECTRA ENERGY CORP 
 EXECUTIVE SHORT-TERM INCENTIVE PLAN 

(as amended and restated) 
 ARTICLE I—GENERAL 
 SECTION 1.1 Purpose. The purpose of the
amended and restated Spectra Energy Corp Executive Short-Term Incentive Plan, (the “Plan”) is to benefit and advance the interests of Spectra Energy Corp, a Delaware corporation (the “Corporation”), by rewarding selected senior
executives of the Corporation and its subsidiaries for their contributions to the Corporation’s financial success and thereby motivate them to continue to make such contributions in the future by granting annual performance-based awards
(individually, “Award”). 
 SECTION 1.2 Administration of the Plan. The Plan shall be administered by
a committee (“Committee”) which shall adopt such rules as it may deem appropriate in order to carry out the purpose of the Plan. The Committee shall be the Compensation Committee of the Corporation’s Board of Directors
(“Board”) (or such subcommittee as may be appointed by the Board) except that (i) the number of directors on the Committee shall not be less than two (2) and (ii) each member of the Committee shall be an “outside
director” within the meaning of Section 162(m)(4) of the Internal Revenue Code of 1986, as amended (the “Code”). All questions of interpretation, administration, and application of the Plan shall be determined by a majority of
the members of the Committee, except that the Committee may authorize any one or more of its members, or any officer of the Corporation, to execute and deliver documents on behalf of the Committee to the extent consistent with the provisions of
Section 162(m) of the Code. The determination of such majority shall be final and binding in all matters relating to the Plan. The Committee shall have authority and discretion to determine the terms and conditions of the Awards granted to
eligible persons specified in Section 1.3 below (“Participants”). 
 SECTION 1.3 Eligible
Persons. Awards may be granted to key employees of the Corporation or any of its subsidiaries who are designated as such by the Committee. An individual shall not be deemed an employee for purposes of the Plan unless such individual
receives compensation from either the Corporation or one of its subsidiaries for services performed as an employee of the Corporation or any of its subsidiaries. 
 ARTICLE II—AWARDS 
 SECTION 2.1 Awards. The Committee may
grant Awards to eligible employees with respect to each fiscal year of the Corporation, or such other performance period determined by the Committee, subject to the terms and conditions set forth in the Plan. 

SECTION 2.2 Terms of Awards. No later than 90 days after the commencement of each fiscal year of the Corporation, or
within the period required to qualify for the “performance-based compensation” exception to Code Section 162(m) with respect to other performance periods, the Committee shall establish (i) performance targets (“Performance
Targets”) for the Corporation for such fiscal year or other period (“Performance Periods”) and (ii) target awards (“Target Awards”) that correspond to the Performance Targets, for each eligible employee to whom an Award
for the Performance Period is granted (“Participant”). The Committee may establish Performance Targets for Awards that are intended to qualify as performance-based compensation under Section 162(m) of the Code in terms of specified
levels of any of the following business measures, which may be applied with respect to the Corporation, or any of its subsidiaries or business units, and which may be measured on an absolute or relative to peer-group basis: total shareholder return;
stock price increase; return on equity; return on capital; earnings per share; EBIT (earnings before interest and taxes); EBITDA (earnings before interest, taxes, depreciation and amortization); ongoing earnings (as defined by management); cash flow
(including operating cash flow, free cash flow, discounted cash flow return on investment, and cash flow in excess of costs of capital); EVA (economic value added); economic profit (net operating profit after tax, less a

  
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cost of capital charge); SVA (shareholder value added); revenues; net income; operating income; pre-tax profit margin; performance against business plan; customer service; corporate governance
quotient or rating; market share; employee satisfaction; safety; employee engagement; supplier diversity; workforce diversity; operating margins; credit rating; dividend payments; expenses; retained earnings; completion of acquisitions, divestitures
and corporate restructuring; and individual goals based on objective business criteria underlying the goals listed above and which pertain to individual effort as to achievement of those goals or to one or more business criteria in the areas of
litigation, human resources, information services, production, inventory, support services, site development, plant development, building development, facility development, government relations, product market share or management. At the time the
Committee determines the terms of the Performance Target(s), the Committee may also specify any exclusion(s) for charges related to any event(s) or occurrence(s) which the Committee determines should appropriately be excluded, as applicable, for
purposes of measuring performance against the applicable Performance Targets provided that such excluded items are objectively determinable by reference to the Corporation’s financial statements, notes to the Corporation’s financial
statements and/or management’s discussion and analysis of financial condition and results of operations, appearing in the Corporation’s Annual Report on Form 10-K for the applicable year. If the Committee determines that a change in the
business, operations, corporate structure or capital structure of the Corporation, or the manner in which it conducts its business, or other events or circumstances, render previously established Performance Targets unsuitable, the Committee may
modify such Performance Targets, in whole or in part, as the Committee deems appropriate and equitable; provided that, unless the Committee determines otherwise, no such action shall be taken if and to the extent it would result in the loss of an
otherwise available exemption of the Award under Section 162(m). In addition, a performance measure used to determine a Performance Target may be subject to such later revisions as the Committee shall deem appropriate to reflect significant
unforeseen events such as changes in law, accounting practices or unusual or nonrecurring items or occurrences or to satisfy applicable regulatory requirements. Any such adjustments shall be subject to such limitations as the Committee deems
appropriate in the case of an Award that is intended to qualify for exemption under Section 162(m). Alternatively, the Committee may establish Performance Targets in terms of such strategic objectives as it may from time to time specify for
Awards that are not intended to qualify as performance-based compensation under Section 162(m) of the Code. 
 SECTION
2.3 Limitation on Awards. The aggregate amount of all Awards payable to any Participant during any one calendar year shall not exceed Four Million Dollars ($4,000,000.00). 

SECTION 2.4 Determination of Award. The Committee shall, promptly after the date on which the necessary financial or
other information for a particular Performance Period becomes available, certify in writing whether any Performance Target has been achieved, and, if so, the highest Performance Target that has been achieved, all in the manner required by
Section 162(m) of the Code. If any Performance Target has been achieved, the Awards, determined for each Participant with reference to the Target Award that corresponds to the highest Performance Target achieved, for such Performance Period
shall have been earned except that the Committee may reduce the amount of any Award to reflect the Committee’s assessment of the Participant’s individual performance, to reflect the failure of the Participant to remain in the continuous
employ of the Corporation or its subsidiaries throughout the applicable Performance Period, or for any other reason. Such awards shall become payable in cash as promptly as practicable thereafter, but in no event more than two and one-half months
following the end of the year in which the Performance Period ends. Notwithstanding the foregoing, the Committee may permit a Participant to elect to defer payment of all or any portion of the Award the Participant might earn for a Performance
Period, by making a deferral election on such terms and conditions as the Committee may establish from time to time. 
 ARTICLE
III—MISCELLANEOUS 
 SECTION 3.1 No Rights to Awards or Continued Employment. No employee shall have any
claim or right to receive Awards under the Plan. Neither the Plan nor any action taken hereunder shall be construed as giving an employee any right to be retained by the Corporation or any of its subsidiaries. 

  
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 SECTION 3.2 Clawback. Notwithstanding anything in the Plan to the contrary, the
Corporation will be entitled to the extent permitted or required by applicable law or Company policy as in effect from time to time to recoup compensation of whatever kind paid by the Corporation or any of its affiliates at any time to a Participant
under the Plan. 
 SECTION 3.3 Restriction on Transfer, Beneficiary. Awards (or interests therein) to a Participant
or amounts payable with respect to a Participant under the Plan are not subject to assignment or alienation, whether voluntary or involuntary. Notwithstanding the foregoing, a Participant may designate a beneficiary or beneficiaries to receive, in
the event of the Participant’s death, any amounts remaining to be paid with respect to the Participant under the Plan. The Participant shall have the right to revoke any such designation and to redesignate a beneficiary or beneficiaries. To be
effective, any such designation, revocation, or redesignation must be in such written form as the Corporation may prescribe and must be received by the Corporation prior to the Participant’s death. If a Participant dies without effectively
designating a beneficiary or if all designated beneficiaries predecease the Participant, any amounts remaining to be paid with respect to the Participant under the Plan, shall be paid to the Participant’s estate. 

SECTION 3.4 Tax Withholding. The Corporation or a subsidiary thereof, as appropriate, shall have the right to deduct
from all payments made under the Plan to a Participant or to a Participant’s beneficiary or beneficiaries federal, state, local or other taxes with respect to such payments. 

SECTION 3.5 No Restriction on Right of Corporation to Effect Changes; No Restriction on Other Compensation. The Plan
shall not affect in any way the right or power of the Corporation or its shareholders to make or authorize any recapitalization, reorganization, merger, acquisition, divestiture, consolidation, spin off, combination, liquidation, dissolution, sale
of assets, or other similar corporate transaction or event involving the Corporation or a subsidiary or division thereof or any other event or series of events, whether of a similar character or otherwise. 

Nothing in the Plan shall preclude or limit the ability of the Corporation to pay any compensation to a Participant under the
Corporation’s other compensation and benefit plans and programs, including without limitation any equity or bonus plan program or arrangement. 
 SECTION 3.6 Source of Payments. The Corporation shall not have any obligation to establish any separate fund or trust or other segregation of assets to provide for payments under the
Plan. To the extent any person acquires any rights to receive payments hereunder from the Corporation, such rights shall be no greater than those of an unsecured creditor. 
 SECTION 3.7 Termination and Amendment. The Plan shall continue in effect until terminated by the Board. The Committee may at any time amend or otherwise modify the Plan in such respects
as it deems advisable; provided, however, no such amendment or modification may be effective without Board approval or Corporation shareholder approval if such approval is necessary to comply with the requirements for qualified performance-based
compensation under Section 162(m) of the Code. 
 SECTION 3.8 Governmental Regulations. The Plan, and all
Awards hereunder, shall be subject to all applicable rules and regulations of governmental or other authorities. 
 SECTION
3.9 Headings. The headings of sections and subsections herein are included solely for convenience of reference and shall not affect the meaning of any of the provisions of the Plan. 

SECTION 3.10 Governing Law. The Plan and all rights and Awards hereunder shall be construed in accordance with and
governed by the laws of the state of Texas. 
 SECTION 3.11 Effective Date. The Effective Date of the amended
and restated Plan shall be the date of approval by the Corporation’s shareholders. 

  
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 IN WITNESS OF its amendment and restatement by the Board on February 22, 2011, this Plan is
executed on behalf of the Corporation this 8th day of March, 2011. 
  

			
	SPECTRA ENERGY CORP
		
	By:	 	/s/ Dorothy M. Ables
		 	Chief Administrative Officer

  
 4Amendment No. 2 to Loan and Servicing Agreement

 Exhibit 10.12.3 

AMENDMENT NO. 2 TO 

LOAN AND SERVICING AGREEMENT 
 This AMENDMENT NO. 2 TO LOAN AND SERVICING AGREEMENT, dated as of March 31, 2011 (this “Amendment”), is executed by and among DT WAREHOUSE III, LLC, a Delaware limited liability
company (together with its successors and assigns, the “Borrower”), DT CREDIT COMPANY, LLC, an Arizona limited liability company, as servicer (in such capacity, the “Servicer”), WELLS FARGO BANK, NATIONAL
ASSOCIATION, a national banking association, as Backup Servicer, Paying Agent and Securities Intermediary (“Paying Agent”), and UBS REAL ESTATE SECURITIES INC., as Program Agent for the Conduit Lenders and the Committed Lenders
(“Program Agent”). Capitalized terms used, but not otherwise defined herein, shall have the meanings ascribed thereto in the “Loan and Servicing Agreement” (defined below). 

WITNESSETH: 

WHEREAS, the Borrower, the Servicer, the Program Agent, the Paying Agent, the Commercial Paper Conduits from time to time party thereto,
and the Financial Institutions from time to time party thereto entered into that certain Loan and Servicing Agreement dated as of April 1, 2010, as amended by Amendment No. 1 dated as of July 28, 2010 (the “Loan and Servicing
Agreement”); 
 WHEREAS, as provided herein, the parties hereto have agreed to amend certain provisions of the Loan and
Servicing Agreement as described below; 
 NOW, THEREFORE, in consideration of the premises and the mutual agreements
hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 SECTION 1. Amendment to the Loan and Servicing Agreement. Effective as of the date hereof, and subject to the satisfaction of the conditions precedent set forth in Section 2 hereof, the Loan
and Servicing Agreement is hereby amended as follows: 
 1.1 The definition of “Commitment Termination Date” set forth
in Section 1.01 of the Loan and Servicing Agreement are hereby amended and restated as follows: 

“Commitment Termination Date” means April 10, 2011, as such date may be extended from time to time
pursuant to Section 2.08. 
 SECTION 2. Conditions Precedent. This Amendment shall become effective as of the date
hereof upon receipt by the Program Agent of counterparts of this Amendment executed by each of the parties hereto. 
 SECTION 3.
Representations, Warranties and Confirmations. Each of the Servicer and the Borrower hereby represents and warrants that: 
 3.1 It has the power and is duly authorized to execute and deliver this Amendment. 

 3.2 The execution and delivery of this Amendment has been duly authorized by all corporate
or limited liability company action necessary on its part. 
 3.3 This Amendment and the Loan and Servicing Agreement as amended
hereby, constitute legal, valid and binding obligations of such parties and are enforceable against such parties in accordance with their terms. 
 3.4 Immediately prior, and after giving all effect, to this Amendment, the covenants, representations and warranties of each such party, respectively, set forth in the Loan and Servicing Agreement and as
amended hereby, are true and correct in all material respects as of the date hereof (except to the extent such representations or warranties relate solely to an earlier date and then as of such date). 

3.5 Immediately prior, and after giving all effect, to this Amendment, no event, condition or circumstance has occurred and is continuing
which constitutes an Event of Termination or Incipient Event of Termination. 
 SECTION 4. Entire Agreement. The parties
hereto hereby agree that this Amendment constitutes the entire agreement concerning the subject matter hereof and supersedes any and all written and/or oral prior agreements, negotiations, correspondence, understandings and communications.

 SECTION 5. Effectiveness of Amendment. Except as expressly amended by the terms of this Amendment, all terms and
conditions of the Loan and Servicing Agreement shall remain in full force and effect and are hereby ratified and confirmed. This Amendment is effective only for the specific purpose for which it is given and shall not operate as a consent, waiver,
amendment or other modification of any other term or condition set forth in the Loan and Servicing Agreement or any right, power or remedy of any Program Agent under the Loan and Servicing Agreement. Upon the effectiveness of this Amendment, each
reference in the Loan and Servicing Agreement to “this Agreement” or “this Loan and Servicing Agreement” or words of like import shall mean and be references to the Loan and Servicing Agreement as amended hereby, and each
reference in any other Facility Document to the Loan and Servicing Agreement or to any terms defined in the Loan and Servicing Agreement which are modified hereby shall mean and be references to the Loan and Servicing Agreement or to such terms as
modified hereby. 
 SECTION 6. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 SECTION 7. Severability. In case any provision
in this Amendment will be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions will not in any way be affected or impaired thereby. 

SECTION 8. Binding Effect. This Amendment shall be binding upon and shall be enforceable by parties hereto and their respective
successors and permitted assigns. 

  
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 SECTION 9. Headings. The Section headings herein are for convenience only and will
not affect the construction hereof. 
 SECTION 10. Novation. This Amendment does not constitute a novation or termination
of the Loan and Servicing Agreement or any Facility Document and all obligations thereunder are in all respects continuing with only the terms thereof being modified as provided herein. 

SECTION 11. Counterparts. This Amendment may be executed in any number of counterparts, each of which so executed will be deemed
to be an original, but all such counterparts will together constitute but one and the same instrument. 
 [SIGNATURE PAGE TO
FOLLOW] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered by their respective authorized officers as of the date first above written. 
  

			
	 DT WAREHOUSE III, LLC,
 as Borrower

		
	By:	 	 /s/ Jon Ehlinger

	Name:	 	Jon Ehlinger
	Title:	 	Manager
	
	 DT CREDIT COMPANY, LLC,
 as Servicer

		
	By:	 	 /s/ Jon Ehlinger

	Name:	 	Jon Ehlinger
	Title:	 	Manager
	
	 UBS REAL ESTATE SECURITIES INC.,
 as Program Agent, sole Managing Agent and sole
 Committed Lender

		
	By:	 	 /s/ CB MULHERN

	Name:	 	CB MULHERN
	Title:	 	EXECUTIVE DIRECTOR
		
	By:	 	 /s/ CHRIS SUDOL

	Name:	 	CHRIS SUDOL
	Title:	 	DIRECTOR
	
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,
 as Backup Servicer, Paying Agent and Securities Intermediary

		
	By:	 	 /s/ Melissa Philibert

	Name:	 	Melissa Philibert
	Title:	 	Vice President

  
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