Document:

exv10w6

 

Exhibit 10.6

                     Shares

2007 NON-EMPLOYEE DIRECTOR

RESTRICTED STOCK AGREEMENT

     This 2007 Non-Employee Director Restricted Stock Agreement (this “Agreement”) is between
Oceaneering international, inc. (the “Company”) and                      (the “Participant”), a
non-employee Director, regarding an award (“Award”) of                      shares of Common Stock (as defined
in the 2005 Incentive plan of oceaneering international, inc. (the “Plan”), such Common
Stock comprising this Award referred to herein as “Restricted Stock”) awarded to the Participant
effective February 23, 2007 (the “Award Date”), such number of shares subject to adjustment as
provided in Section 15 of the Plan, and further subject to the following terms and conditions:

     1. Relationship to Plan. This Award is subject to all of the terms, conditions and provisions of
the Plan and administrative interpretations thereunder, if any, which have been adopted by the
Board thereunder and are in effect on the date hereof. Except as defined or otherwise specifically
provided herein, capitalized terms shall have the same meanings ascribed to them under the Plan.

     2. Vesting and Lapse of Restrictions.

     (a) All shares of Restricted Stock subject to this Award shall vest in full (and all
restrictions thereon shall lapse) on the first anniversary of the Award Date, provided the
Participant is a Director on such anniversary.

     (b) All shares of Restricted Stock (and any substitute security and cash component
distributed in connection with a Change of Control) subject to this Award shall vest in full
(and all restrictions thereon shall lapse), irrespective of the provision set forth in
subparagraph (a) above, provided that the Participant has been in continuous service as a
Director since the Award Date, upon the earlier to occur of:

     (i) the Participant’s death; or

     (ii) a Change of Control.

     (c) For purposes of this Agreement:

     (i) “Change of Control” means:

     (A) any Person is or becomes the “beneficial owner” (as defined in Rule
13d-3 under the Securities Exchange Act of 1934, as amended and the rules
and regulations promulgated thereunder), directly or indirectly, of
securities of the Company representing 20% or more of the combined voting
power of the Company’s outstanding Voting Securities, other than through the purchase of Voting Securities
directly from the Company through a private placement; or

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     (B) individuals who constitute the Board on the date hereof (the
“Incumbent Board”) cease for any reason to constitute at least a majority
thereof, provided that any person becoming a Director subsequent to the date
hereof whose election, or nomination for election by the Company’s
shareholders, was approved by a vote of at least two-thirds of the Directors
comprising the Incumbent Board shall from and after such election be deemed
to be a member of the Incumbent Board; or

     (C) the Company is merged or consolidated with another corporation or
entity and as a result of such merger or consolidation less than 60% of the
outstanding Voting Securities of the surviving or resulting corporation or
entity shall then be owned by the former shareholders of the Company; or

     (D) a tender offer or exchange offer is made and consummated by a
Person other than the Company for the ownership of 20% or more of the Voting
Securities of the Company then outstanding; or

     (E) all or substantially all of the assets of the Company are sold or
transferred to a Person as to which:

     (1) the Incumbent Board does not have authority (whether by law
or contract) to directly control the use or further disposition of
such assets; and

     (2) the financial results of the Company and such Person are not
consolidated for financial reporting purposes.

     (F) Anything else in this definition to the contrary notwithstanding:

     (1) no Change of Control shall be deemed to have occurred by
virtue of any transaction which results in the Participant, or a
group of Persons which includes the Participant, acquiring more than
20% of either the combined voting power of the Company’s outstanding
Voting Securities or the Voting Securities of any other corporation
or entity which acquires all or substantially all of the assets of
the Company, whether by way of merger, consolidation, sale of such
assets or otherwise; and

     (2) no Change of Control shall be deemed to have occurred unless
such event constitutes an event specified in Code Section
409A(2)(A)(v) and the Treasury regulations promulgated thereunder.

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     (ii) “Person” means, any individual, corporation, partnership, group,
association or other “person,” as such term is used in Sections 13(d) and
14(d) of the Securities Exchange Act of 1934, as amended, and the related
rules and regulations promulgated thereunder.

     (iii) “Voting Securities” means, with respect to any corporation or
other business enterprise, those securities, which under ordinary
circumstances are entitled to vote for the election of directors or others
charged with comparable duties under applicable law.

     3. Forfeiture of Award. If the Participant’s service as a Director terminates under any
circumstances (except those provided in Paragraph 2 of this Agreement or in any other written
agreement between the Participant and the Company which provides for vesting of the Restricted
Stock granted hereby), all unvested Restricted Stock as of the termination date shall be forfeited.

     4. Registration of Shares. The Participant’s right to receive the Restricted Stock shall be
evidenced by book entry registration (or by such other manner as the Committee may determine) at
the beginning of the Restriction Period. Upon termination of the Restriction Period, a certificate
representing such shares shall be delivered upon written request to the Participant as promptly as
is reasonably practicable following such termination.

     5. Code Section 83(b) Election. The Participant shall be permitted to make an election under Code
Section 83(b), to include an amount in income in respect of the Award of Restricted Stock in
accordance with the requirements of Code Section 83(b).

     6. Dividends and Voting Rights. The Participant is entitled to receive all dividends and other
distributions made with respect to Restricted Stock registered in his name and is entitled to vote
or execute proxies with respect to such registered Restricted Stock, unless and until the
Restricted Stock is forfeited.

     7. Delivery of Shares. The Company shall not be obligated to deliver any shares of Common Stock if
counsel to the Company determines that such sale or delivery would violate any applicable law or
any rule or regulation of any governmental authority or any rule or regulation of, or agreement of
the Company with, any securities exchange or association upon which the Common Stock is listed or
quoted. The Company shall in no event be obligated to take any affirmative action in order to
cause the delivery of shares of Common Stock to comply with any such law, rule, regulation or
agreement.

     8. Notices. Unless the Company notifies the Participant in writing of a different procedure, any
notice or other communication to the Company with respect to this Agreement or the Plan shall be in
writing addressed to the Corporate Secretary of the Company and shall be: (a) by registered or
certified United States mail, postage prepaid, to 11911 FM 529, Houston, Texas 77041-3011; or (b)
by hand delivery or otherwise to 11911 FM 529, Houston, Texas 77041-3011. Any such notice shall be
deemed effectively delivered or given upon receipt.

          Notwithstanding the foregoing, in the event that the address of the Company’s principal
executive offices is changed prior to the date of any exercise of this Award, notices shall instead
be made pursuant to the foregoing provisions at the then current address of the Company’s principal
executive offices.

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          Any notice or other communication to the Participant with respect to this Agreement or the
Plan shall be given in writing and shall be deemed effectively delivered or given upon receipt or,
in the case of notices mailed by the Company to the Participant, five days after deposit in the
United States mail, postage prepaid, addressed to the Participant at the address specified at the
end of this Agreement or at such other address as the Participant hereafter designates by written
notice to the Company.

     9. Assignment of Award. Except as otherwise permitted by the Committee and as provided in the
immediately following paragraph, the Participant’s rights under the Plan and this Agreement are
personal, and no assignment or transfer of the Participant’s rights under and interest in this
Award may be made by the Participant other than by a domestic relations order. This Award is
payable during his lifetime only to the Participant, or in the case of a Participant who is
mentally incapacitated, this Award shall be payable to his guardian or legal representative.

          The Participant may designate a beneficiary or beneficiaries (the “Beneficiary”) to whom the
Award under this Agreement, if any, will pass upon the Participant’s death and may change such
designation from time to time by filing with the Company a written designation of Beneficiary on
the form attached hereto as Exhibit A, or such other form as may be prescribed by the Committee;
provided that no such designation shall be effective unless so filed prior to the death of the
Participant and no such designation shall be effective as of a date prior to receipt by the
Company. The Participant may change his Beneficiary without the consent of any prior Beneficiary
by filing a new designation with the Company. The last such designation that the Company receives
in accordance with the foregoing provisions will be controlling. Following the Participant’s
death, the Award, if any, will pass to the designated Beneficiary and such person will be deemed
the Participant for purposes of any applicable provisions of this Agreement. If no such
designation is made or if the designated Beneficiary does not survive the Participant’s death, the
Award shall pass by will or, if none, then by the laws of descent and distribution.

     10. Withholding. The Company’s obligation to deliver shares of Restricted Stock to the
Participant upon the vesting of such shares shall be subject to the satisfaction of all applicable
federal, state and local income and employment tax withholding requirements (the “Required
Withholding”). The Company may withhold from the Restricted Stock that would otherwise
have been delivered to the Participant the number of shares necessary to satisfy the
Participant’s Required Withholding, and deliver the remaining shares of Restricted Stock to the
Participant, unless the Participant has made arrangements with the Company for the Participant to
deliver to the Company cash, check, other available funds or shares of previously owned Common
Stock for the full amount of the Required Withholding by 5:00 p.m. Central Standard Time on the
date the shares of Restricted Stock become vested. The amount of the Required Withholding and the
number of shares to satisfy the Participant’s Required Withholding shall be based on the Fair
Market Value of the shares on the date prior to the applicable date of vesting.

     11. Stock Certificates. Certificates representing the Common Stock issued pursuant to the Award
will bear all legends required by law and necessary or advisable to effectuate the provisions of
the Plan and this Award. The Company may place a “stop transfer” order against shares of the
Common Stock issued pursuant to this Award until all restrictions and conditions

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set forth in the
Plan or this Agreement and in the legends referred to in this Section 11 have been complied with.

     12. Successors and Assigns. This Agreement shall bind and inure to the benefit of and be
enforceable by the Participant, the Company and their respective permitted successors and assigns
(including personal representatives, heirs and legatees), except that the Participant may not
assign any rights or obligations under this Agreement except to the extent and in the manner
expressly permitted in Section 9 of this Agreement.

     13. No Service as Director Guaranteed. No provision of this Agreement shall confer any right upon
the Participant to continued service with the Company as a Director.

     14. Code Section 409A Compliance. If any provision of this Agreement would result in the
imposition of an additional tax under Section 409A of the Code and related regulations and Treasury
pronouncements (“Section 409A”), that provision will be reformed to avoid imposition of the
additional tax and no action taken to comply with Section 409A shall be deemed to impair a benefit
under this Agreement.

     15. Governing Law. This Agreement shall be governed by, construed, and enforced in accordance with
the laws of the State of Texas, excluding any choice of law provision thereof that would result in
the application of the laws of any other jurisdiction.

     16. Amendment. Except as set forth herein, this Agreement cannot be modified, altered or amended
except by an agreement, in writing, signed by both the Company and the Participant.

	 	 	 	 	 
	 	OCEANEERING INTERNATIONAL, INC.

 	 
	Award Date: February 23, 2007 	By:  	 	 
	 	 	George R. Haubenreich, Jr. 	 
	 	 	Senior Vice President, General Counsel
and Secretary 	 
	 

          The Participant hereby accepts the foregoing 2007 Non-Employee Director Restricted Stock
Agreement, subject to the terms and provisions of the Plan and administrative interpretations
thereof referred to above.

	 	 	 	 	 	 	 
	 	 	 	PARTICIPANT:

 	 
	Date:  	 	 	
 	 
	 	 	 	
 	 
	 	 	 	Participant’s Address:
 	 
	 	 	 	
 	 
	 	 	 	
 	 
	 	 	 	
 	 

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Exhibit A to 2007 Non-Employee Director

Restricted Stock Agreement

Designation of Beneficiary

          I,                                          (“Participant”), hereby declare that upon my death,
                                         (the “Beneficiary”) of                                       
   (address), who is my
                                        (relationship), will be entitled to the Award which may become payable
under the Plan and all other rights accorded the Participant under the Participant’s 2007
Non-Employee Director Restricted Stock Agreement (capitalized terms used but not defined herein
have the respective meanings assigned to them in such agreement).

          It is understood that this designation of Beneficiary is made pursuant to the Agreement and is
subject to the conditions stated therein, including the Beneficiary’s survival of Participant. If
any such condition is not satisfied, such rights shall devolve according to the Participant’s last
will and testament, or if none, then the laws of descent and distribution.

          It is further understood that all prior designations of beneficiary under the Agreement are
hereby revoked upon the filing of this designation with the Company. This designation of
Beneficiary may only be revoked in writing, signed by the Participant, and filed with the Corporate
Secretary of the Company prior to the Participant’s death.

	 	 	 	 	 
	 

	 	 	 
	 
	 	 	 
	 

	 	Participant

	 
	 	 	 	 
	 

	 	 	 
	 
	 	 	 
	 

	 	Date

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Exhibit 10.1

LONG-TERM INCENTIVE PLAN OF

CENTERPOINT ENERGY, INC.

PERFORMANCE SHARE AWARD AGREEMENT

20XX — 20XX PERFORMANCE CYCLE

          Pursuant to this Award Agreement, CenterPoint Energy, Inc. (the “Company”) hereby
grants to «FIRST_NAME» «LAST_NAME» (the “Participant”), an employee of the Company, «PBRS»
performance shares of Common Stock (the “Target Performance Shares”), such number of shares being
subject to adjustment as provided in Section 14 of the Long-Term Incentive Plan of CenterPoint
Energy, Inc. (the “Plan”), conditioned upon the Company’s achievement of the Performance Goals over
the course of the 20XX — 20XX Performance Cycle pursuant to the Plan, and subject to the following
terms and conditions:

          1. Relationship to the Plan; Definitions. This grant of Performance Shares is
subject to all of the terms, conditions and provisions of the Plan and administrative
interpretations thereunder, if any, which have been adopted by the Committee and are in effect on
the date hereof. 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, it is hereby acknowledged and agreed that 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 herein also include the heirs or other legal representatives of the Participant. For
purposes of this Award Agreement:

     “20XX — 20XX Performance Cycle” means the period from January 1, 20XX to
December 31, 20XX.

     “Achievement Percentage” means the percentage of achievement determined by the
Committee at the end of the Performance Cycle in accordance with Section 3 that
reflects the extent to which the Company achieved the Performance Goals during the
Performance Cycle applicable to this Award Agreement.

     “Disability” means that the Participant is both eligible for and in receipt of
benefits under the Company’s long-term disability plan.

     “Employment” means employment with the Company or any of its Subsidiaries.

     “Performance Goals” means the standards established by the Committee to
determine in whole or in part whether the Performance Shares shall be earned, which
are attached hereto and made a part hereof for all purposes.

     “Performance Shares” means the shares of Common Stock potentially deliverable
to Participant pursuant to this Award Agreement.

     “Retirement” means termination of Employment on or after attainment of age 55
and with at least five years of service with the Company.

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     “Target Performance Shares” means the actual number of Performance Shares
initially granted to the Participant pursuant to this Award Agreement, with such
number of Performance Shares to be awarded to the Participant at the close of
the 20XX — 20XX Performance Cycle if the Company attains an Achievement Percentage
of 100%.

     “Vested Performance Shares” means the shares of Common Stock awarded to
Participant following Participant’s satisfaction of the vesting provisions of
Section 4 and, if applicable, the determination by the Committee of the extent to
which the Company has achieved the Performance Goals for the 20XX — 20XX
Performance Cycle pursuant to Section 3.

          2. Establishment of Performance Share Account. The grant of Target Performance
Shares pursuant to this Award Agreement shall be implemented by a credit to a bookkeeping account
maintained by the Company evidencing the accrual in favor of the Participant of the unfunded and
unsecured right to receive shares of Common Stock of the Company, which right shall be subject to
the terms, conditions and restrictions set forth in the Plan and to the further terms, conditions
and restrictions set forth in this Award Agreement.

          3. Award Opportunity. The Performance Goals established for the 20XX — 20XX
Performance Cycle are attached hereto and made a part hereof for all purposes. Except as otherwise
provided in Sections 4(b) and 5, the number of Performance Shares awarded to Participant shall be
the product of the number of Target Performance Shares and the Achievement Percentage that is based
upon the Committee’s determination of whether and to what extent the Company achieves the
Performance Goals during the 20XX — 20XX Performance Cycle.

          As soon as practicable after the close of the 20XX — 20XX Performance Cycle, the Committee
shall determine the extent to which the Company has achieved each Performance Goal. If the Company
has performed at or above the threshold level of achievement for a Performance Goal, the
Achievement Percentage shall be between 50% and 150%, with a target level of achievement resulting
in an Achievement Percentage of 100%. In no event shall the Achievement Percentage exceed 150%.
The combined level of achievement is the sum of the weighted achievements of the Performance Goals
as approved by the Committee. Upon completing its determination of the level at which the
Performance Goals have been achieved, the Committee shall notify the Participant of the number of
Vested Performance Shares that will be issued to the Participant pursuant to Section 6.

          4. Vesting of Performance Shares.

     (a) Unless earlier forfeited or vested in accordance with paragraph (b) or
Section 5, Participant’s right to receive Performance Shares shall vest upon Participant’s
receipt of written notice from the Committee, as required by Section 3, of the level at
which the Performance Goals established for the 20XX — 20XX Performance Cycle have been
achieved. Such notice shall be given by the Committee as soon as practical after the close
of the 20XX — 20XX Performance Cycle in accordance with the terms of the Plan and this
Award Agreement.

     (b) If Participant’s Employment is terminated prior to the close of the
20XX — 20XX Performance Cycle:

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     (i) by the Company or any of its Subsidiaries for any reason or due
to voluntary resignation by the Participant, Participant’s right to receive
Performance Shares shall be forfeited in its entirety as of such termination.

     (ii) due to death, Disability, or Retirement, Participant’s right
to receive the Target Performance Shares shall vest at the time of such termination
in the proportion of the number of days elapsed in the 20XX — 20XX Performance
Cycle as of the date of such termination of Employment by the total number of days
in the 20XX — 20XX Performance Cycle and shall be delivered to Participant as soon
as possible following such termination. Participant’s right to receive additional
Performance Shares shall be forfeited at such time.

          5. Distribution Upon a Change in Control. Notwithstanding anything herein to the
contrary, upon or immediately prior to the occurrence of any Change in Control of the Company, and
without regard to the Performance Goals, the Participant’s right to receive the Performance Shares
shall be settled by the distribution to the Participant of (a) shares of Common Stock equal to the
Target Performance Shares, plus (b) shares of Common Stock (rounded up to the nearest whole share)
having a Fair Market Value equal to the amount of dividends that would have been declared on the
number of such shares determined under clause (a) above during the period commencing at the
beginning of the Performance Cycle and ending on the date immediately preceding the date on which
the Change in Control occurs, with such shares of Common Stock registered in the name of the
Participant and certificates representing such Common Stock to be delivered to the Participant as
soon as practicable after the date the Change in Control occurs. In lieu of the foregoing
distribution in shares, the Committee, in its sole discretion, may direct that such distribution be
made to the Participant in cash equal to (x) the product of (i) the Fair Market Value per share of
Common Stock on the date immediately preceding the date on which the Change in Control occurs and
(ii) the Target Performance Shares, plus (y) the amount of dividends that would have been declared
on the number of shares of Common Stock determined under clause (a) above during the period
commencing at the beginning of the Performance Cycle and ending on the date immediately preceding
the date on which the Change in Control occurs, with such cash payment to be made as soon as
practicable after the date the Change in Control occurs. Such distribution, whether in the form of
shares of Common Stock or, if directed by the Committee, in cash, shall satisfy the rights of the
Participant and the obligations of the Company under this Award Agreement in full.

          6. Payment of Award.

     (a) If Participant’s right to receive Performance Shares has vested
pursuant to Section 4, a number of shares of Common Stock equal to the number of Vested
Performance Shares shall be registered in the name of the Participant and certificates
representing such Common Stock shall be delivered to the Participant as soon as practical
after the date upon which the Participant’s right to such shares vested according to the
provisions of Section 4. The Company shall have the right to withhold applicable taxes from
any such payment of Vested Performance Shares or from other compensation payable to the
Participant at the time of such vesting and delivery pursuant to Section 11 of the Plan.

     (b) Upon delivery of the Vested Performance Shares pursuant to paragraph
(a), above, Participant shall also be entitled to receive a cash payment equal to the sum of
all dividends, if any, declared on the Vested Performance Shares after the commencement of
the 20XX — 20XX Performance Cycle but prior to the date the Vested Performance Shares are

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delivered to the Participant.

          7. Confidentiality. The Participant agrees that the terms of this Award Agreement
are confidential and that any disclosure to anyone for any purpose whatsoever (save and
except disclosure to financial institutions as part of a financial statement, financial, tax
and legal advisors, or as required by law) by the Participant or his or her agents,
representatives, heirs, children, spouse, employees or spokespersons shall be a breach of this
Award Agreement and the Company may elect to revoke the grant made hereunder, seek damages, plus
interest and reasonable attorneys’ fees, and take any other lawful actions to enforce this Award
Agreement.

          8. Notices. For purposes of this Award Agreement, notices to the Company shall be
deemed to have been duly given upon receipt of written notice by the corporate secretary of the
Company at 1111 Louisiana, Houston, Texas 77002, or to such other address as the Company may
furnish to the Participant.

          Notices to the Participant shall be deemed effectively delivered or given upon personal,
electronic, or postal delivery of written notice to the Participant, the place of Employment of the
Participant, the address on record for the Participant at the human resources department of the
Company, or such other address as the Participant hereafter designates by written notice to the
Company.

          9. Shareholder Rights. The Participant shall have no rights of a shareholder with
respect to the Performance Shares, unless and until the Participant is registered as the holder of
shares of Common Stock.

          10. Successors and Assigns. This Award Agreement shall bind and inure to the
benefit of and be enforceable by the Participant, the Company and their respective permitted
successors and assigns except as expressly prohibited herein and in the Plan. Notwithstanding
anything herein or in the Plan to the contrary, the Performance Shares are transferable by the
Participant to Immediate Family Members, Immediate Family Members trusts, and Immediate Family
Member partnerships pursuant to Section 13 of the Plan.

          11. No Employment Guaranteed. Nothing in this Award Agreement shall give the
Participant any rights to (or impose any obligations for) continued Employment by the Company or
any Subsidiary 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.

          12. Compliance with Section 409A. It is the intent of the Company and the
Participant that the provisions of the Plan and this Award Agreement comply with Section 409A of
the Internal Revenue Code and related regulations and Department of the Treasury pronouncements
(“Section 409A”). If any provision provided herein would result in the imposition of an excise tax
under the provisions of Section 409A, the parties agree that any such provision will be modified as
the Company determines is appropriate to avoid imposition of such excise tax. In certain
circumstances the Company may delay the payment of the Performance Shares until a date which is six
months and two days after the date of the Participant’s separation from service.

          13. Compliance with Recoupment Policy. Any amounts payable or paid under this
Award Agreement are subject to the recoupment policy of the Company as in effect from time to time.

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          14. Modification of Award Agreement. Any modification of this Award Agreement
shall be binding only if evidenced in writing and signed by an authorized representative of the
Company.

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