Document:

exv10wxzy

 

Exhibit 10(z)

			
	 	 	 
	                    Shares
	 	Date of Grant:                     

RESTRICTED STOCK AWARD

CLIFF VESTING AWARDS

2004 OMNIBUS STOCK AND INCENTIVE PLAN

FOR DENBURY RESOURCES INC.

     RESTRICTED STOCK AWARD (“Award”) made effective ___(“Date of Grant”) between
Denbury Resources Inc. (the “Company”) and ___(“Holder”).

     WHEREAS, the Company desires to grant to the Holder ___Restricted Shares under and for the
purposes of the 2004 Omnibus Stock and Incentive Plan for Denbury Resources Inc. (the “Plan”);

     WHEREAS, in accordance with the provisions of Section 16(d) of the Plan, the Restricted Shares
will be issued by the Company in the Holder’s name and be issued and outstanding for all purposes
(except as provided below or in the Plan) but held by the Company (together with the stock power
set forth below) until such time as such Restricted Shares are Vested by reason of the lapse of the
applicable restrictions, after which time the Company shall make delivery of the Vested Shares to
Holder; and

     WHEREAS, the Company and Holder understand and agree that this Award is in all respects
subject to the terms, definitions and provisions of the Plan, and all of which are incorporated
herein by reference, except to the extent otherwise expressly provided in this Award.

     NOW THEREFORE, in consideration of the mutual covenants hereinafter set forth and for other
good and valuable consideration, the parties agree as follows:

1. Restricted Share Award. The Company hereby sells, transfers, assigns and delivers to
the Holder an aggregate of ___Restricted Shares (“Award Restricted Shares”) on the terms and
conditions set forth in the Plan and supplemented in this Award, including, without limitation, the
restrictions more specifically set forth in Section 2 below, subject only to Holder’s execution of
this Award agreement.

2. Vesting of Award Restricted Shares. The Restrictions on the Award Restricted Shares
shall lapse (Award Restricted Shares with respect to which Restrictions have lapsed being herein
referred to as “Vested Shares”) and become non-forfeitable on the occurrence of the earliest of the
dates (“Vesting Date”) set forth in (a) through (d) immediately below:

	 	(a)	 	the date of the 4th Anniversary of the Date of Grant;
	 
	 	(b)	 	the date of Holder’s death or Disability;

A-1

 

	 	(c)	 	the date of a Change in Control;
	 
	 	(d)	 	the date of Holder’s Separation if such Separation occurs after Holder’s
Retirement Vesting Date.

3. Termination of Award If the Holder Separates at any time prior to the Vesting Date,
this Award expires, and the Holder’s right to receive all or any part of the Award is permanently
forfeited on such date of Separation.

4. Withholding. On the earlier of (i) the date that Award Restricted Shares become
Vested Shares and (ii) Holder’s Retirement Vesting Date (which will be the date on which all then
unvested Award Restricted Shares will be considered fully Vested for income tax purposes, and,
solely for purposes of this Section 4, the number of such Award Restricted Shares which such Holder
elects to deliver to the Company to satisfy the minimum tax withholding will be considered Vested
Shares), the minimum withholding required to be made by the Company shall be paid by Holder to the
Administrator in cash, or by delivery of Shares, which Shares may be in whole or in part Vested
Shares, based on the Fair Market Value of such Shares on the date of delivery.

5. Issuance of Shares. Without limitation, Holder shall have all of the rights and
privileges of an owner of the Award Restricted Shares (including voting rights) except that Holder
shall not be entitled to either delivery of the certificates evidencing any of the Award Restricted
Shares, or to Restricted Share Distributions (i.e. dividends), unless and until such Award
Restricted Shares become Vested Shares. As soon as reasonably possible following the date Award
Restricted Shares become Vested Shares, the Administrator shall issue the certificates evidencing
Vested Shares to the Holder, reduced by the number of Vested Shares (if any) delivered to the
Administrator to pay required withholding under Section 4 above.

6. No Transfers Permitted. The rights under this Award are not transferable by the
Holder otherwise than by will or the laws of descent and distribution, and so long as Holder
lives, only Holder or his or her guardian or legal representative shall have the right to
receive and retain Vested Shares.

7. Governing Law. without limitation, This Award shall be construed and enforced in
accordance with and governed by the laws of delaware. 

8. Binding Effect. This Award shall inure to the benefit of and be binding upon the heirs,
executors, administrators, successors and assigns of the parties hereto.

9. Severability. If any provision of this Award is declared or found to be illegal,
unenforceable or void, in whole or in part, the remainder of this Award will not be affected by
such declaration or finding and each such provision not so affected will be enforced to the fullest
extent permitted by law.

A-2

 

     IN WITNESS WHEREOF, the Company has caused these presents to be executed on its behalf and its
corporate seal to be affixed hereto by its duly authorized representative and the Holder has
hereunto set his or her hand and seal, all on the day and year first above written.

     Dated as of this                      day of                    , 200                    .

	 	 	 	 	 
	 	 	DENBURY RESOURCES INC.
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	     Gareth Roberts
	 

	 	 	 	     President and CEO
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	     Phil Rykhoek
	 

	 	 	 	     Sr. Vice President and CFO

A-3

 

Assignment Separate From Certificate

     FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto Denbury Resources
Inc. the ___Shares subject to this Award, standing in the undersigned’s name on the books of
said Denbury Resources Inc., and do hereby irrevocably constitute and appoint the corporate
secretary of Denbury Resources Inc. as attorney to transfer the said stock on the books of Denbury
Resources Inc. with full power of substitution in the premises.

          Dated                                         

	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 

Holder

ACKNOWLEDGMENT

     The undersigned hereby acknowledges (i) my receipt of this Award, (ii) my opportunity to
review the Plan, (iii) my opportunity to discuss this Award with a representative of the Company,
and my personal advisors, to the extent I deem necessary or appropriate, (iv) my understanding of
the terms and provisions of the Award and the Plan, and (v) my understanding that, by my signature
below, I am agreeing to be bound by all of the terms and provisions of this Award and the Plan.

     Without limitation, I agree to accept as binding, conclusive and final all decisions or
interpretations (including, without limitation, all interpretations of the meaning of provisions of
the Plan, or Award, or both) of the Administrator upon any questions arising under the Plan, or
this Award, or both.

     Dated as of this                      day of                                         , 200                    .

	 	 	 	 	 
	 	 	 	 	 
	 
	 	 	 	 

Holder

A-4exv10wxaay

 

Exhibit 10(aa)

			
	 	 	 
	$                    
	 	Date of Grant:                     

DEFERRED PAYMENT CASH AWARD

ANNUAL VESTING

DENBURY RESOURCES INC.

     This grant of a deferred payment cash award (the “Award”) is hereby made by Denbury Resources
Inc. (the “Company”) to ___(the “Employee”) on ___(“Date of
Grant”). Defined terms used herein which are capitalized but not defined in this Award shall have
the meaning assigned to them under the 2004 Omnibus Stock and Incentive Plan for Denbury Resources
Inc.

1. Amount of Award. This Award is in the amount of $___.

2. Vesting of Award. This award will “Vest” and become non-forfeitable with
respect to a specified percentage of the Award on the dates set forth in (a) through (d) below,
and will become 100% Vested on occurrence (if any) of the earliest of the dates set forth in (e)
and (f) below:

	 	(a)	 	25% of the Award on the date of the 1st Anniversary of the Date of Grant;
	 
	 	(b)	 	25% of the Award on the date of the 2nd Anniversary of the Date of
Grant;
	 
	 	(c)	 	25% of the Award on the date of the 3rd Anniversary of the Date of
Grant;
	 
	 	(d)	 	25% of the Award on the date of the 4th Anniversary of the Date of
Grant;
	 
	 	(e)	 	100% of the Award which have not previously Vested, on the date of Holder’s
death or Disability; and
	 
	 	(f)	 	100% of the Award which have not previously Vested, on the date of a Change
in Control.

     Vesting of this Award shall not be accelerated upon Holder’s retirement as an employee of
the Company and, without limitation, neither the acceleration of vesting, if any, which is a
general policy in the Company’s Employee Handbook, or the acceleration of vesting under a
provision of the Plan, shall apply to this Award.

3. Payment of Award. The specified percentage of the Award, net of
withholding, will be paid to the Employee in a single lump sum cash payment within a reasonable
period of time after the corresponding Vesting Date. The Employee shall have no right to payment
of the specified percentage of the Award prior to its corresponding Vesting Date, and funds for
payment of the Award have not been segregated, and will not be segregated, from the Company’s
assets, and this Award is solely a general unsecured

 

 

obligation of the Company to pay the specified percentage of such Award within a reasonable
period of time following the corresponding Vesting Date. This Award will not accrue any interest
nor will its dollar value appreciate.

4. Termination of Award. If the Employee Separates prior to the date on which
the entire Award is Vested, this Award expires and, other than Employee’s right to payment of
that percentage of the Award that has become Vested on or prior to the date of Separation, the
Employee’s right to receive a payment hereunder is permanently forfeited on such date of
Separation.

5. Withholding. On each Vesting Date (or if not practical then on a date
thereafter which is on or prior to payment of the Award), the minimum amount of Federal and state
income and employment taxes required to withheld by the Company shall be deducted from the
specified percentage of such Award that becomes Vested, and only the remainder of the specified
percentage of such Award paid to the Employee. The Employee, in his or her sole discretion, may
direct the Company to withhold from the Award any amount in excess of the minimum withholding, by
notifying the Human Resource Department prior to payment of the Award and completing the
appropriate withholding forms.

6. No Transfers Permitted. The rights under this Award are not transferable by
the Employee otherwise than by will or the laws of descent and distribution, and so long as
Employee lives, only Employee or his or her guardian or legal representative shall have any
rights under this Award. In the event of Employee’s Separation by reason of death, or Employee’s
death after the Vesting Date but before actual payment has been made, the Award will be paid to
the Employee’s Beneficiary within 30 days.

7. No Right To Continued Employment. This Award shall not confer upon the
Employee any right with respect to continuation of employment by the Company, nor any right to
provide services to the Company, nor shall it interfere in any way with Employee’s right to
terminate employment, nor the Company’s right to terminate Employee’s employment, at any time.

8. Committee Authority. The Award shall be administered by the Committee,
which shall adopt rules and regulations for carrying out the purposes of the Award and, without
limitation, may delegate all of what, in its sole discretion, it determines to be ministerial
duties to the Administrator; provided, further, that the determinations under, and the
interpretations of, any provision of the Award by the Committee shall, in all cases, be in its
sole discretion, and shall be final and conclusive.

9. Law Governing. WITHOUT LIMITATION, THIS AWARD SHALL BE CONSTRUED AND
ENFORCED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF DELAWARE.

10. Binding Effect. This Award shall inure to the benefit of and be binding
upon the heirs, executors, administrators, successors and assigns of the parties hereto. No
amendment of the Award may be made except with the written agreement of both the

 

 

Company and the Employee.

     Dated as of this                      day of                    , 200                    .

	 	 	 	 	 
	 

	 	 	 	DENBURY RESOURCES INC.
	 
	 	 	 	 
	 

	 	Per:	 	 
	 

	 	 	 	 
	 

	 	 	 	Gareth Roberts, President & CEO
	 
	 	 	 	 
	 

	 	Per:	 	 
	 

	 	 	 	 
	 

	 	 	 	Phil Rykhoek, Sr. Vice President & CFO

Acknowledgment

     The undersigned hereby acknowledges (i) my receipt of this Award, (ii) my opportunity to
review the Award, (iii) my opportunity to discuss this Award with a representative of the Company,
and my personal advisors, to the extent I deem necessary or appropriate, (iv) my understanding of
the terms and provisions of the Award, and (v) my understanding that, by my signature below, I am
agreeing to be bound by all of the terms and provisions of this Award.

     Without limitation, I agree to accept as binding, conclusive and final all decisions or
interpretations (including, without limitation, all interpretations of the meaning of provisions of
the Award) of the Administrator upon any questions arising under this Award.

     Dated as of this                      day of                     , 200                    .

	 	 	 
	 
	 	 
	 
	 	 
	 

	 	 

          Employee Name

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00098-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00098-of-00352.parquet"}]]