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FORM OF OFFICER RESTRICTED STOCK AWARD AGREEMENT

 EXHIBIT 10.23 
 MARATHON OIL CORPORATION 
 2003 INCENTIVE COMPENSATION PLAN 
 OFFICER RESTRICTED STOCK AWARD AGREEMENT 
 [GRANT DATE] 
 Pursuant to this Award Agreement and the Marathon Oil Corporation 2003 Incentive Compensation Plan (the
“Plan”), MARATHON OIL CORPORATION (the “Corporation”) hereby grants to [NAME] (the “Participant”), an employee of the Corporation or an Affiliate, on [DATE] (the “Grant Date”),
[NUMBER] restricted shares of Common Stock (“Restricted Shares”). The number of Restricted Shares awarded is subject to adjustment as provided in Section 17 of the Plan, and the Restricted Shares are subject to the following
terms and conditions: 
 1.     Relationship to the Plan; Definitions. 
 This grant of Restricted Shares is subject to all of the terms, conditions and provisions of the Plan and administrative interpretations, if any, that
have been adopted by the Committee. Except as defined in this Award Agreement, capitalized terms shall have the same meanings given to them under the Plan. To the extent that any provision of this Award Agreement conflicts with the express terms of
the Plan, the terms of the Plan shall control and, if necessary, the applicable provisions of this Award Agreement shall be hereby deemed amended so as to carry out the purpose and intent of the Plan. For purposes of this Award Agreement:

 “Employment” means employment with the Corporation or any of its Affiliates. For purposes of this
Award Agreement, Employment shall also include any period of time during which the Participant is on Disability status. 
 2.     Vesting and Forfeiture of Restricted Shares. 
 The Restricted Shares shall vest on the third
anniversary of the Grant Date; provided, however, that the Participant must be in continuous Employment from the Grant Date through the vesting date in order for the Restricted Shares to vest. If the Employment of the Participant is terminated for
any reason (including Retirement) other than death, any Restricted Shares that have not vested as of the date of such termination of Employment shall be forfeited to the Corporation. 
 (b)     The Restricted Shares shall immediately vest in full, irrespective of the limitations set forth in subparagraph
(a) above, upon: 
 (i) termination of the Participant’s Employment due to death; or 
 (ii) a Change in Control of the Corporation, provided that as of such Change in Control the Participant had been in continuous
Employment since the Grant Date. 
 3.     Issuance of Shares. Effective as of the Grant Date, the Committee or
its designated representative shall cause a number of shares of Common Stock equal to the number of Restricted Shares to be issued and registered in the Participant’s name, subject to the conditions and restrictions set forth in this Award
Agreement and the Plan. Such issuance and registration shall be evidenced by an entry on the registry books of the Corporation and, if the Committee so elects, evidenced by a certificate issued by the Corporation. Any book entries and certificates
evidencing the Restricted Shares shall carry or be endorsed with a legend referring to the conditions and restrictions set forth in this Award

  

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Agreement and the Plan. In the event the Restricted Shares are evidenced by a certificate, such certificate shall be held in custody by the Corporation unless and until the corresponding
Restricted Shares are vested. The Participant shall not be entitled to delivery of a certificate or release of the restrictions on the book entry evidencing such Restricted Shares for any portion of the Restricted Shares unless and until the related
Restricted Shares have vested pursuant to Paragraph 2. In the event the Restricted Shares are forfeited in full or in part, the Participant hereby consents to the relinquishment of the forfeited Restricted Shares theretofore issued and registered in
the Participant’s name to the Corporation at that time. 
 4.     Taxes. Pursuant to Section 14 of
the Plan, the Corporation or its designated representative shall have the right to withhold applicable taxes from the shares of Common Stock otherwise deliverable to the Participant due to the vesting of Restricted Shares pursuant to Paragraph 2, or
from other compensation payable to the Participant, at the time of the vesting and delivery of such shares. 
 5.     Shareholder Rights. Unless and until the Restricted Shares are forfeited, the Participant shall have the rights of a shareholder with respect to the Restricted Shares as of the Grant Date, including the
right to vote the Restricted Shares and the right to receive dividends. The Participant hereby consents to receiving any dividends on the unvested Restricted Shares through the Corporation’s payroll and, accordingly, directs the
Corporation’s transfer agent to pay such dividends to the Corporation on his or her behalf. 
 6.    
Nonassignability. Upon the Participant’s death, the Restricted Shares may be transferred by will or by the laws governing the descent and distribution of the Participant’s estate. Otherwise, the Participant may not sell, transfer,
assign, pledge or otherwise encumber any portion of the Restricted Shares, and any attempt to sell, transfer, assign, pledge, or encumber any portion of the Restricted Shares shall have no effect. 
 7.     No Employment Guaranteed. Nothing in this Award Agreement shall give the Participant any rights to (or impose any
obligations for) continued Employment by the Corporation or any Affiliate or successor, nor shall it give such entities any rights (or impose any obligations) with respect to continued performance of duties by the Participant. 
 8.     Modification of Agreement. Any modification of this Award Agreement shall be binding only if evidenced in writing
and signed by an authorized representative of the Corporation, provided that no modification may, without the consent of the Participant, adversely affect the rights of the Participant. 
  

			
	Marathon Oil Corporation
		
	By    	 	/s/ Eileen M. Campbell
		 	 Authorized Officer

  

 2FORM OF PERFORMANCE UNIT AWARD AGREEMENT 2005-2007

 EXHIBIT 10.24 
 MARATHON OIL CORPORATION 
 2003 INCENTIVE COMPENSATION PLAN 
 PERFORMANCE UNIT AWARD AGREEMENT 
 2005-2007 PERFORMANCE CYCLE 
 Pursuant to this Award Agreement and the Marathon Oil Corporation 2003 Incentive
Compensation Plan (the “Plan”), MARATHON OIL CORPORATION (the “Corporation”) hereby grants to [NAME] (the “Participant”), an employee of the Corporation or an Affiliate, on May 25, 2005,
[NUMBER] performance units (“Performance Units”), conditioned upon the Corporation’s TSR Percentile Ranking for the 2005-2007 Performance Cycle. The Performance Units are subject to the following terms and conditions:

 1.     Relationship to the Plan; Definitions. 
 This grant of Performance Units is subject to all of the terms, conditions and provisions of the Plan and administrative interpretations thereunder,
if any, that have been adopted by the Committee. Except as defined herein, capitalized terms shall have the same meanings ascribed to them under the Plan. To the extent that any provision of this Award Agreement conflicts with the express terms of
the Plan, the terms of the Plan shall control and, if necessary, the applicable provisions of this Award Agreement shall be hereby deemed amended so as to carry out the purpose and intent of the Plan. References to the Participant also include the
heirs or other legal representatives of the Participant. For purposes of this Award Agreement: 
 “2005-2007
Performance Cycle” means the period from January 1, 2005 to December 31, 2007. 
 “Beginning
Stock Price” means the average of the daily closing price of the Corporation’s Common Stock for each trading day of the calendar month preceding the commencement of the 2005-2007 Performance Cycle. 
 “Cumulative Dividends” means the sum of (i) all cash dividends and (ii) the Fair Market Value of all Common
Stock dividends as of the payment date for such Common Stock dividends paid on a share of Common Stock during the 2005-2007 Performance Cycle. The Participant shall not be entitled to receive any dividend payments in conjunction with this award of
Performance Units. 
 “Employment” means employment with the Corporation or any of its Affiliates. For
purposes of this Award Agreement, Employment shall also include any period of time during which the Participant is on Disability status. 
 “End Stock Price” means the average of the daily closing price of the Corporation’s Common Stock for each trading day of the calendar month ending on the last day of the 2005-2007 Performance
Cycle. 
  

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 “Payout Percentage” means the percentage (between 0% and 200%)
determined by the Committee in accordance with the procedures set forth in Paragraph 2, which shall be used to determine the value of each Performance Unit. 
 “Payout Value” means, for each Performance Unit, the product of the Payout Percentage and $1.00. 
 “Peer Group” means the companies that are members of the AMEX Oil Index as of the last business day of the 2005-2007
Performance Cycle, or such other group of companies as selected by the Committee at its discretion. 
 “Total
Shareholder Return” or “TSR” means the number derived using the following formula: 
 (End Stock
Price – Beginning Stock Price) + Cumulative Dividends 
 Beginning Stock Price. 
 “TSR Percentile Ranking” means the relative ranking of the Corporation’s Total Shareholder Return for the
2005-2007 Performance Cycle as compared to the Total Shareholder Return of the Peer Group companies during the 2005-2007 Performance Cycle, expressed as a percentile ranking. 
 2.     Determination of Payout Percentage. As soon as practical following the close of the 2005-2007 Performance Cycle, the
Committee shall determine the TSR Percentile Ranking. Thereafter, the Committee shall determine the Payout Percentage as follows: 
 (a)     If the TSR Percentile Ranking is below the 25th percentile, the Payout Percentage shall be zero. 
 (b)     If
the TSR Percentile Ranking is at or above the 25th percentile, the Payout
Percentage shall be equal to the TSR Percentile Ranking multiplied by 2. 
 (c)     Notwithstanding anything herein to
the contrary, the Committee has sole and absolute authority and discretion to reduce the Payout Percentage as it may deem appropriate. 
 3.     Vesting of Performance Units. Unless the Participant’s right to the Performance Units is previously forfeited or vested in accordance with Paragraphs 4, 5 or 6, following the Committee’s
determinations pursuant to Paragraph 2, the Participant shall vest in and be entitled to receive a cash payment equal to the product of (i) the number of Performance Units granted hereunder and (ii) the Payout Value. Such cash payment
shall be made as soon as administratively feasible following the Committee’s determination under Paragraph 2. If, in accordance with the Committee’s determination under Paragraph 2, the Payout Value is zero, the Participant shall
immediately forfeit any and all rights to the Performance Units. Upon the vesting and/or forfeiture of the Performance Units pursuant to this Paragraph 3 and the making of the related cash payment, if any, the rights of the Participant and the
obligations of the Corporation under this Award Agreement shall be satisfied in full. 
 4.     Termination of
Employment. If Participant’s Employment is terminated prior to the close of the 2005-2007 Performance Cycle for any reason other than death, the Participant’s right to the Performance Units shall be forfeited in its entirety as of such
termination, and the rights of the Participant and the obligations of the Corporation under this Award Agreement shall be terminated. 
 5.     Termination of Employment due to Death. If Participant’s Employment is terminated by

  

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reason of death prior to the close of the 2005-2007 Performance Cycle, the Participant’s right to receive the Performance Units shall vest in full as of the date of death and the Payout
Percentage shall be 100%. As soon as administratively feasible thereafter, a cash payment shall be made in accordance with Paragraph 3. Such vesting shall satisfy the rights of the Participant and the obligations of the Corporation under this Award
Agreement in full. 
 6.     Vesting Upon a Change of Control. Notwithstanding anything herein to the contrary,
upon the occurrence of a Change in Control prior to the end of the 2005-2007 Performance Cycle, the Participant’s right to receive the Performance Units, unless previously forfeited pursuant to Paragraph 4, shall vest in full and the Payout
Percentage shall be 100%. As soon as administratively feasible thereafter, a cash payment shall be made in accordance with Paragraph 3. Such vesting shall satisfy the rights of the Participant and the obligations of the Corporation under this Award
Agreement in full. 
 7.     Taxes. Pursuant to Section 14 of the Plan, the Corporation or its designated
representative shall have the right to withhold applicable taxes from the cash otherwise payable to the Participant, or from other compensation payable to the Participant, at the time of the vesting and delivery of such cash payment. 
 8.     No Shareholder Rights. The Participant shall in no way be entitled to any of the rights of a shareholder as a result
of this Award Agreement. 
 9.     Nonassignability. Upon the Participant’s death, the Performance Units
may be transferred by will or by the laws governing the descent and distribution of the Participant’s estate. Otherwise, the Participant may not sell, transfer, assign, pledge or otherwise encumber any portion of the Performance Units, and any
attempt to sell, transfer, assign, pledge, or encumber any portion of the Performance Units shall have no effect. 
 10.     No Employment Guaranteed. Nothing in this Award Agreement shall give the Participant any rights to (or impose any obligations for) continued Employment by the Corporation or any Affiliate thereof or
successor thereto, nor shall it give such entities any rights (or impose any obligations) with respect to continued performance of duties by the Participant. 
 11.     Modification of Agreement. Any modification of this Award Agreement shall be binding only if evidenced in writing and signed by an authorized representative of the Corporation,
provided that no modification may, without the consent of the Participant, adversely affect the rights of the Participant hereunder. 
  

			
	Marathon Oil Corporation
		
	By    	 	/s/ Eileen M. Campbell
		 	 Authorized Officer

  

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