Document:

Exhibit

Exhibit 10.1

FIRST AMENDMENT TO THE 
NEWFIELD EXPLORATION COMPANY 
2011 OMNIBUS STOCK PLAN,
As Amended and Restated May 15, 2015

This First Amendment (the “First Amendment”) to the Newfield Exploration Company 2011 Omnibus Stock Plan, As Amended and Restated May 15, 2015 (the “Plan”), is made effective as of April 12, 2016 (the “Amendment Effective Date”).  Capitalized terms used but not defined herein shall have the meanings assigned to them in the Plan.

WHEREAS, Newfield Exploration Company, a Delaware corporation (the “Company”), previously adopted, and currently maintains, the Plan; 
WHEREAS, Article XI of the Plan provides, among other things, that (i) the Board may at any time and from time to time amend or alter the Plan and may delegate such authority to the Committee and (ii) the Committee may at any time and from time to time amend or alter any Award Agreement, in each case, without the consent of the stockholders of the Company (unless required by applicable law or stock exchange rules) or the Holder of any Award (provided such amendment does not adversely affect in any material way any previously granted Award); and 
WHEREAS, the Committee desires to amend the Plan and all outstanding Award Agreements, in each case, in the manner contemplated hereby, to enable the Company to withhold taxes in the form of shares of Stock (including shares of Stock otherwise issuable under an Award) calculated at the maximum statutory tax rates applicable to a Holder.  

NOW, THEREFORE, the Plan shall be amended as follows, effective as of the Amendment Effective Date: 

1.    Section 2.23 of the Plan shall be deleted in its entirety and replaced with the following:

“2.23  [Reserved]”

2.    Section 13.3 of the Plan shall be deleted in its entirety and replaced with the following: 

“13.3    Tax Withholding.  The Company or any Affiliate shall be authorized to withhold from any Award granted, or any payment relating to an Award under the Plan, including from a distribution of Stock, or from other compensation payable to each Holder, amounts of withholding and other taxes due or potentially payable in connection with any transaction involving an Award, and to take such other action as the Committee may deem advisable to enable the Company and Holders to satisfy obligations for the payment of withholding taxes and other tax obligations relating to any Award.  This authority shall include the authority to withhold or receive Stock (including previously owned shares, net settlement, a broker-assisted sale, or other cashless withholding or reduction of the amount of shares otherwise issuable or 

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delivered pursuant to the Award), other property, or any other legal consideration the Committee deems appropriate.    If such tax obligations are satisfied through the withholding of shares of Stock that are otherwise issuable to the Holder pursuant to an Award (or through the surrender of shares of Stock by the Holder to the Company), the maximum number of shares of Stock that may be so withheld or surrendered shall be the number of shares of Stock that have an aggregate Fair Market Value on the date of withholding or surrender equal to the aggregate amount of such obligations determined based on the maximum statutory withholding rates in the applicable Holder’s jurisdiction that may be utilized without creating adverse accounting treatment with respect to such Award, as determined by the Committee.  The Company may require or permit an election by the Holder (or other person validly exercising the Award) to pay any sums for taxes directly to the Company or any Affiliate in cash or by check within one day after the date of vesting, settlement, exercise or lapse of restrictions, as applicable.”

3.    Each outstanding Award Agreement is hereby deemed to be amended to reflect the foregoing.

4.    As amended hereby, the Plan and each outstanding Award Agreement are specifically ratified and reaffirmed.  

[Remainder of Page Intentionally Blank]

2Exhibit

Exhibit 10.2

NEWFIELD EXPLORATION COMPANY
2011 OMNIBUS STOCK PLAN
RESTRICTED STOCK AGREEMENT
FOR NON-EMPLOYEE DIRECTORS
This Restricted Stock Agreement (this “Agreement”) is made this [__] day of [_____], 2016 (the “Effective Date”), by and between Newfield Exploration Company (the “Company”) and [_____] (“Director”).
1.    GRANT.
		
	(a)
	Shares.  Pursuant to the Company’s 2011 Omnibus Stock Plan, as amended and restated (the “2011 Plan”), and this Agreement, [____] shares of Stock (the “Restricted Stock”) are granted to Director as of the Effective Date as hereinafter provided in Director’s name subject to certain restrictions described herein.  

		
	(b)
	Issuance of Restricted Stock.  The shares of Restricted Stock will be issued upon acceptance hereof by Director.

		
	(c)
	Plan Documents Incorporated.  Director acknowledges receipt of a copy of the 2011 Plan, and agrees that this grant of Restricted Stock shall be subject to all of the terms and provisions thereof.  Unless otherwise specified, capitalized terms used but not defined herein will have the meanings set forth in the 2011 Plan.  

		
	2.
	RESTRICTED STOCK.  Director hereby accepts the Restricted Stock and agrees with respect thereto as follows:

		
	(a)
	Forfeiture Restrictions.  Except as may be otherwise provided in Article VI of the 2011 Plan, (i) the Restricted Stock may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred or disposed of to the extent then subject to the Forfeiture Restrictions; and (ii) in the event of termination of Director’s service for any reason other than death or Disability, Director shall, for no consideration, forfeit to the Company all Restricted Stock to the extent then subject to the Forfeiture Restrictions.  The prohibition against transfer and the obligation to forfeit and surrender shares to the Company upon termination of Director’s service are herein referred to as “Forfeiture Restrictions.”  The Forfeiture Restrictions shall be binding upon and enforceable against any transferee of Restricted Stock.      

		
	(b)
	Lapse of Forfeiture Restrictions.  The Forfeiture Restrictions shall lapse as to the Restricted Stock on the day before the date of the first annual meeting of stockholders following the date of issuance of the Restricted Stock, provided that the lapse conditions described below have been satisfied (the “Annual Meeting Lapse Date”).  The Forfeiture Restrictions shall lapse as provided above only if Director has 

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remained a director of the Company continuously from the Effective Date through the Annual Meeting Lapse Date; provided, however, that if, prior to the Annual Meeting Lapse Date, (i) Director terminates service as a director by reason of death or Disability, or (ii) a Change of Control occurs, then, in each case, the Forfeiture Restrictions on all Restricted Stock issued to Director shall immediately lapse as of the date of his or her termination of service as a director or as of the date of the Change of Control, as applicable.  To the extent that the lapse conditions are not satisfied, Director shall automatically for no consideration forfeit and surrender to the Company all of the Restricted Stock that are then subject to Forfeiture Restrictions.  
		
	(c)
	Certificates.  Shares of Restricted Stock may be evidenced by the issuance of a stock certificate (electronic or physical), pursuant to which Director shall have voting rights and receive dividends, and which shall be registered in the name of the Director and shall bear an appropriate legend referring to the terms, conditions and restrictions applicable to the Restricted Stock.  The Company shall retain custody of any stock certificate until the Forfeiture Restrictions lapse. The Company may require Director to execute and deliver a stock power, in blank, with respect to the Restricted Stock, and the Company may exercise such stock power in the event of forfeiture.  Promptly upon the lapse of the Forfeiture Restrictions without forfeiture, the Company shall cause a new certificate or certificates to be issued without legend in the name of Director and deliver such stock certificate to the Director.  

		
	3.
	SECURITIES LAWS.  Director agrees to be bound by such provisions as the Company may require to the end that the issuance by the Company or the sale by Director of any Stock that is the subject of this Agreement shall be in compliance with the applicable securities laws.

		
	4.
	COMMUNITY INTEREST OF SPOUSE.  The community interest, if any, of any spouse of Director in any of the Restricted Stock shall be subject to all the terms, conditions and restrictions of this Agreement, and shall be forfeited and surrendered to the Company upon the occurrence of any of the events requiring Director’s interest in such Restricted Stock to be so forfeited and surrendered pursuant to this Agreement.

		
	5.
	TAX WITHHOLDING AND] TAX ELECTION.  To the extent the issuance of the Restricted Stock or the lapse of Forfeiture Restrictions results in the receipt of compensation by Director, the Company is authorized to withhold from any other cash compensation then or thereafter payable to Director any tax payable or required to be withheld by reason of the receipt of compensation resulting from the issuance of shares or the lapse of Forfeiture Restrictions. Alternatively, Director may authorize the Company to retain or withhold sufficient shares of Restricted Stock otherwise receivable by Director from the Company with respect to Restricted Stock or may deliver to the Company sufficient shares of Stock to enable the Company to satisfy any such withholding or other tax obligation.  If Director makes the election authorized by section 83(b) of the Code, Director shall submit to the Company a copy of the statement filed by Director to make such election.

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	6.
	BINDING EFFECT.  This Agreement shall be binding upon and inure to the benefit of any successors to the Company and all persons lawfully claiming under Director.

IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by an officer thereunder duly authorized, and Director has executed this Agreement, all as of the date first above written.

NEWFIELD EXPLORATION COMPANY

By:  _________________________________        
Name:
Title:

    
 ______________________________________    
 [Name]
 Director

  

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