Document:

exv4w1

 

Exhibit 4.1

[FACE OF CERTIFICATE]

NUMBER

HO

[LOGO]

HORIZON OFFSHORE, INC.

INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE

SHARES

CUSIP 44043J 20 4

SEE REVERSE FOR CERTAIN DEFINITIONS

THIS CERTIFIES THAT

is the owner of

FULLY-PAID AND NONASSESSABLE SHARES OF THE COMMON STOCK, $0.00001 PAR VALUE, OF

HORIZON OFFSHORE, INC., transferable on the books of the Corporation by the holder hereof in person
or by duly authorized attorney, upon surrender of this certificate properly endorsed. This
certificate and the shares represented hereby are issued and shall be held subject to all the
provisions of the Certificate of Incorporation, as amended, and the Bylaws of the Corporation, as
amended (copies of which are on file at the office of the Transfer Agent), to all of which the
holder of this certificate by acceptance hereof assents. This certificate is not valid unless
countersigned and registered by the Transfer Agent and Registrar.

WITNESS the facsimile seal of the Corporation and the facsimile signatures of its duly authorized
officers.

Dated:

/sig/

Executive Vice President, Secretary and General Counsel

[SEAL]

/sig/

President and Chief Executive Officer

COUNTERSIGNED AND REGISTERED:

MELLON INVESTOR SERVICES LLC

TRANSFER AGENT AND REGISTRAR

BY

AUTHORIZED SIGNATURE

[REVERSE OF CERTIFICATE]

HORIZON OFFSHORE, INC.

 

 

The Corporation will furnish to any stockholder, upon request and without charge, a full statement
of the powers, designations, preferences and relative, participating, optional or other special
rights of each class of stock or series thereof and the qualifications, limitations or restrictions
of such preferences and/or rights.

The following abbreviations, when used in the inscription on the face of this certificate, shall be
construed as though they were written out in full according to applicable laws or regulations:

TEN COM — as tenants in common

TEN ENT — as tenants by the entireties

JT TEN — as joint tenants with right of survivorship and not as tenants in common

UNIF GIFT MIN ACT —                     
  (Cust)
                    
 Custodian                      
  (Minor)                     
  under Uniform Gifts to Minors Act

                    
 (State)                     

Additional abbreviations may also be used though not in the above list.

For value received,                      hereby sell, assign and transfer unto

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE

Please print or typewrite name and address including postal zip code of assignee

Shares of the Common Stock represented by the within Certificate, and do hereby irrevocably
constitute and appoint

Attorney to transfer the said stock on the books of the within-named Corporation with full power of
substitution in the premises.

Dated

SIGNATURE

Signature Guaranteed By:

Banker or Member Firm of a Stock Exchange

Signature(s) Guaranteed:

THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS,
SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE
MEDALLION PROGRAM), PURSUANT TO S.E.C. RULE 17Ad-15.

NOTICE: The signature to this assignment must correspond with the name as written upon the face of
the Certificate, in every particular, without alteration or enlargement, or any change whatever.exv10w1

 

Exhibit 10.1

1. Section 1 of the Plan shall be amended to add a reference to director participation in the Plan,
and shall read in its entirety as follows:

     1. Purpose. The purpose of the 2005 Stock Incentive Plan (this “Plan”) of
Horizon Offshore, Inc. (“Horizon”) is to increase stockholder value and to
advance the interests of Horizon and its subsidiaries (collectively, the
“Company”) by furnishing a variety of equity incentives (the “Incentives”)
designed to attract, retain and motivate officers, employees, directors,
consultants and advisors and to strengthen the mutuality of interests between
such persons and Horizon’s stockholders. Incentives may consist of options to
purchase shares of Horizon’s common stock (the “Common Stock”), stock
appreciation rights, shares of restricted stock, restricted stock units or
other stock-based awards, the value of which is based upon the value of the
Common Stock, all on terms determined under this Plan. As used in this Plan,
the term “subsidiary” means any corporation, limited liability company or other
entity of which Horizon owns (directly or indirectly) within the meaning of
Section 424(f) of the Internal Revenue Code of 1986, as amended (the “Code”),
50% or more of the total combined voting power of all classes of stock,
membership interests or other equity interests issued thereby.

2. Section 2.2 shall be amended to delete the last sentence.

3. Section 3 shall be amended to add the following sentence to the end of the paragraph:

Directors who are not also employees of the Company (“Outside Directors”) may
participate in the Plan only as specifically provided in Section 12 hereof.

4. The first sentence of Section 4.5(a) shall be amended to delete the reference to Section 4 and
shall read in its entirety as follows:

In the event of any recapitalization, reclassification, stock dividend, stock
split, combination of shares or other change in the Common Stock, all
limitations on numbers of shares of Common Stock provided in this Plan and the
number of shares of Common Stock subject to outstanding Incentives shall be
equitably adjusted in proportion to the change in outstanding shares of Common
Stock.

5. New Section 12 shall be added to the Plan, and shall read in its entirety as follows:

12. Stock Options for Outside Directors

12.1 Grant of Options. Outside Directors shall receive the following:

     (a) Each Outside Director shall be
automatically granted non-qualified
stock options to purchase 250,000
shares of Common Stock on the 21st
calendar day after mailing an
information statement in accordance
with Rule 14c-2(b) under the 1934
Act; and

     (b) On the day following each
annual meeting of stockholders of
Horizon occurring after December
31, 2005, each Outside Director
shall be automatically granted
non-qualified stock options to
purchase up to 250,000 shares of
Common Stock, the exact number of
which shall be set by the Board of
Directors.

     12.2 Exercisability of Stock Options. Subject to the Committee’s right to
accelerate the exercisability of any stock option and subject to the
Committee’s rights under Section 11.12, the stock options granted to Outside
Directors under this Section 12 shall be exercisable one year after the date
of grant and shall expire ten years following the date of grant.

     12.3 Exercise Price. The exercise price of the stock options granted to
Outside Directors shall be equal to the Fair Market Value, as defined in the
Plan, of a share of Common Stock on the date of grant.

 

 

The exercise price may be paid as provided in Section 5.5 hereof.

     12.4 Exercise After Termination of Board Service. In the event an Outside
Director ceases to serve on the Board, the stock options granted hereunder
must be exercised, to the extent otherwise exercisable at the time of
termination of Board service, within one year from termination of Board
service; provided, however, that in the event of termination of Board service
as a result of retirement (at age 65 or later or after having completed five
or more years of service on the Board), the stock options may be exercised
within five years from the date of termination of Board service.
Notwithstanding the foregoing, no stock options may be exercised later than
ten years after the date of grant.exv10w2

 

Exhibit
10.2

STOCK OPTION AGREEMENT

     THIS AGREEMENT is entered into as of April 12, 2006, by and between Horizon Offshore, Inc., a
Delaware corporation (the “Company”), and                                          (the “Optionee”).

     WHEREAS, on April 12, 2006, pursuant to the Company’s 2005 Stock Incentive Plan, as amended
(the “Plan”), Optionee is eligible to receive a grant to
purchase                       shares of Common Stock at an exercise price of ___ per share;

     NOW, THEREFORE, in consideration of the foregoing, it is agreed by and between the parties as
follows:

I. Grant of Option

     The Company hereby grants to Optionee the right, privilege and option (the “Option”) to
purchase ___ shares of Common Stock at an exercise price
of $ ___ per share (the “Exercise
Price”), effective April 12, 2006 (the “Date of Grant”). The Option shall be exercisable at the
time specified in Section II below. The Option is a non-qualified stock option and shall not be
treated as an incentive stock option under Section 422 of the Internal Revenue Code of 1986, as
amended (the “Code”).

II. Time of Exercise

     2.1 Subject to the provisions of the Plan and the other provisions of this Section II, the
Optionee shall be entitled to exercise the Option in full one year after the date of Date of Grant.
The Option shall expire and may not be exercised later than ten years following the Date of Grant.

     2.2 During Optionee’s lifetime, the Option may be exercised only by him or his guardian if he
has been declared incompetent. In the event of death, the Option may be exercised as provided
herein by the Optionee’s estate or by the person to whom such right devolves as a result of the
Optionee’s death.

     2.3 In the event Optionee ceases to serve on the Board of Directors (the “Board”), the Option
must be exercised, to the extent exercisable at the time of termination of Board service, within
one year from the date of termination of Board service, provided, that in the event of termination
of Board service, as a result of retirement (at age 65 or later or after having completed five or
more years of service on the Board), the Option must be exercised within five years from the date
of termination of Board service. Notwithstanding the foregoing, no option may be exercised later
than ten years following the Date of Grant.

III. Method of Exercise of Option

     3.1 Optionee may exercise all or a portion of the Option by delivering to the Company a signed
written notice of his intention to exercise the Option, specifying therein the number of

 

 

shares of Common Stock to be purchased. Upon receiving such notice, and after the Company
has received full payment of the Exercise Price, the appropriate officer of the Company shall
cause the transfer of title of the shares of Common Stock purchased to Optionee on the Company’s
stock records and cause to be issued to Optionee a stock certificate for the number of shares of
Common Stock being acquired. Optionee shall not have any rights as a stockholder until the stock
certificate is issued to him.

     3.2 The Option may be exercised by the payment of the Exercise Price in cash, by check, in
shares of Common Stock subject to certain limitations, through a cashless exercise arrangement with
a broker approved by the Company in advance, or in any other manner approved by the Company’s
compensation committee.

IV. No Right to Continue as a Director

     Nothing in this Agreement shall confer upon Optionee any right to continue to serve as a
director on the Board of the Company or any of its subsidiaries, or shall constitute evidence of
any agreement or understanding, express or implied, that the Company will retain Optionee as a
director for any period of time.

V. Binding Effect

     This Agreement shall inure to the benefit of and be binding upon the parties hereto and their
respective heirs, executors, administrators and successors.

VI. Non-Transferability

     The Option granted hereby may not be transferred, assigned, pledged or hypothecated in any
manner, by operation of law or otherwise, other than by will, by the laws of descent and
distribution or pursuant to domestic relations order, as defined in the Code, and shall not be
subject to execution, attachment or similar process.

VII. Inconsistent Provisions

     The Option granted hereby is subject to the provisions of the Plan as in effect on the date
hereof and as it may be amended. In the event any provision of this Agreement conflicts with such
a provision of the Plan, the Plan provision shall control.

2

 

     IN WITNESS WHEREOF the parties hereto have caused this Agreement to be executed on the day and
year first above written.

	 	 	 	 	 
	 	 	HORIZON OFFSHORE, INC.
	 
	 	 	 	 
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 	 	David W. Sharp

	 	 	President & Chief Executive Officer

	 
	 	 	 	 
	 	 	OPTIONEE
	 
	 	 	 	 
	 	 	 
	 	 	Signature

3

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