Document:

MRO-2013.9.30-10Q.Ex.10.4

Exhibit 10.4
BONUS AGREEMENT UPON COMMENCEMENT OF EMPLOYMENT

This Bonus Agreement upon Commencement of Employment (this “Agreement”) is between Marathon Oil Corporation, (referred to as “Marathon”) and Lee M. Tillman (referred to as “you”) and sets forth the terms for payment of the Bonus and the conditions on which you agree to repay the Bonus.

Marathon has agreed to pay you an aggregate signing bonus of $3,000,000 (“Bonus”).  This Bonus, less any required tax withholding, shall be paid in three installments.  The first installment (“First Installment”) shall be $2,000,000 and shall be paid within thirty (30) calendar days following August 1, 2013, which is the date on which your employment with Marathon commenced.  The second installment (“Second Installment”) shall be $500,000 and shall be paid within thirty (30) calendar days following August 1, 2014 provided that you remain in continuous employment with Marathon through such date.  The third installment (“Third Installment”) shall be $500,000 and shall be paid within thirty (30) calendar days following August 1, 2015 provided that you remain in continuous employment with Marathon through such date.  If your employment with Marathon is terminated due to your disability, resignation for Good Reason, or termination by Marathon without Cause prior to payment of any of the installments, you will receive all remaining bonus installments within thirty (30) days after the date that is six (6) months after your termination of employment, and you shall not be required to repay any amounts pursuant to this Agreement.  If your employment with Marathon is terminated due to your death prior to payment of any of the installments, your estate will receive all remaining bonus installments within thirty (30) days after the date of your death, and your estate shall not be required to repay any amounts pursuant to this Agreement.  

Your receipt of the Bonus is contingent upon the execution of this Agreement. 

You will be required to repay certain amounts as follows if Marathon terminates your employment for Cause or if you resign your employment without Good Reason:  

		
	(i)
	prior to August 1, 2014, you will be obligated to repay the First Installment; 

 
		
	(ii)
	prior to August 1, 2015, you will be obligated to repay the Second Installment and 50% of the First Installment; and 

		
	(iii)
	prior to August 1, 2016, you will be obligated to repay the Third Installment.

For purposes of this Agreement, “Cause” means any one or more of the following:

		
	(i)
	your willful and continued failure to substantially perform your duties with Marathon (other than any such failure resulting from termination of your employment for Good Reason or any such failure resulting from your incapacity due to physical or mental illness), after a demand for substantial performance is delivered to you that specifically identifies the manner in which Marathon believes that you have not substantially performed your duties and you have failed to resume substantial performance of your duties on a continuous basis within fourteen (14) days of receiving such demand;

		
	(ii)
	your willfully engaging in conduct which is demonstrably and materially injurious to Marathon, monetarily or otherwise; or 

		
	(iii)
	your conviction of a felony or conviction of a misdemeanor which impairs your ability substantially to perform your duties with Marathon.  For purposes of this definition of Cause, no act, or failure to act, on your part shall be deemed “willful” unless done, or omitted to be done, by you not in good faith and without reasonable belief that the action or omission was in the best interest of Marathon.

For purposes of this Agreement, “Good Reason” means the occurrence, without your express written consent, of any one or more of the following:  

		
	(i)
	the assignment to you of duties materially inconsistent with your position as President & Chief Executive Officer or a material diminution in your authority, duties, status or responsibilities, including a requirement that you report to a corporate officer or employee instead of reporting directly to the Board of Directors of Marathon;

		
	(ii)
	a material diminution by Marathon in your rate of base salary;

		
	(iii)
	a material change in the geographic location at which you must perform services, specifically including a requirement that you be based at a location in excess of fifty (50) miles from the location where you were based on August 1, 2013; or

		
	(iv)
	a material diminution by Marathon in your total compensation opportunity, including a material diminution resulting from your exclusion from, or reduced participation in, any of Marathon’s employee benefit, incentive compensation, bonus, stock option and stock award plans, programs, policies, practices or arrangements in which officers of Marathon participate, provided that no material diminution in your total compensation opportunity will be deemed to occur as long as you participate in such plans, programs, practices, policies or arrangements on the same level at which other corporate officers participate in such plans, programs, practices, policies or arrangements. 

Notwithstanding the foregoing, Good Reason shall not exist unless (a) you provide notice to Marathon of the existence of the condition or occurrence of the action that you believe constitutes Good Reason within ninety (90) days of the initial existence of the condition or occurrence of the action, (b) upon receipt of such notice, Marathon has a period of forty-five (45) days during which it may remedy the condition or reverse or change the action that you believe constitutes Good Reason, (c) Marathon does not remedy the condition or reverse or change the action within such cure period, and (d) you actually terminate your employment with Marathon within two years of the initial existence of the condition or occurrence of the action that constitutes Good Reason. Your continued employment with Marathon shall not constitute consent to, or a waiver of rights with respect to, any condition or occurrence constituting Good Reason hereunder.  

Payments under this Agreement are intended to be exempt from or to comply with section 409A of the Internal Revenue Code of 1986, as amended, and related U.S. Treasury regulations or official pronouncements (“Section 409A”) and any ambiguous provision will be construed in a manner that is consistent with exemption from Section 409A; provided, however, if and to the extent that any compensation payable pursuant to this Agreement is determined to be subject to Section 409A, this Agreement will be construed and all payments under this Agreement shall be made in a manner that will comply with Section 409A. To the extent required to comply with Section 409A, references to a “resignation,” “termination,” “termination of employment” or like terms throughout this Agreement shall be interpreted consistent with the meaning of “separation from service” as defined in Section 409A.  To the extent required to comply with Section 409A, references to a “disability” shall be interpreted consistent with the meaning of “disability” as defined in Section 409A.

You authorize Marathon to deduct any amount allowed by law, up to and including the amounts you are obligated to repay under the provisions of this Agreement from your final paycheck, any checks for allowances or expenses payable to you, and to credit those deductions to the amounts you are obligated to repay under this Agreement.  You understand that you shall remain responsible for the payment of any remaining balance that remains after such deduction.

You acknowledge and agree that neither this Agreement nor the payment of the Bonus creates or affirms any obligation for Marathon to employ you for any term or specific period of time.

You understand and agree that this Agreement shall be governed by and construed in accordance with the laws of the State of Texas, and that this Agreement is enforceable from the time that you sign it, or from the time that you receive the First Installment of the Bonus, whichever first occurs, without regard to whether or not any representative or agent of Marathon signs it.  You acknowledge receiving a copy of this Agreement at the time that you signed it.

Lee M. Tillman:         /s/ Lee M. Tillman                        

Date:                August 30, 2013                           

Marathon Oil Corporation

By:                /s/ R. L. Sovine                             

Title:                Vice President, Human Resources

Date:                August 30, 2013New Sprint Exhibit 10.12 Q3 2013

Exhibit 10.12

Stock Option 
Retention Award Agreement

Throughout this Award Agreement (the “Agreement”) we sometimes refer to Sprint Corporation (the “Corporation”) and its subsidiaries as “we” or “us.”

1.  Award of Option Right
On August 1, 2013 (the “Date of Grant”), the Section 16 Sub-Committee of the Compensation Committee of the Board of Directors of the Corporation granted you an Option Right to purchase from us  1,733,102 shares of Sprint common stock, par value $.01 per share (the “Common Stock”) at an Option Price equal to the closing per share of the Common Stock on the Date of Grant. The Option Right is governed by the terms of the Sprint Corporation 2007 Omnibus Incentive Plan (the “Plan”) and is subject to the terms and conditions of the Plan and this Agreement. The Option Right is not intended to qualify as an “incentive stock option” within the meaning of Section 422 of the Internal Revenue Code of 1986 (the “Code”).

2.  When the Option Right Becomes Exercisable; Forfeiture
Your Option Right becomes fully exercisable on the earlier of (a) August 1, 2018, and (b) the date vesting is accelerated as described in paragraph 3 below, conditioned on you continuously serving as our employee to such date (the “Vesting Date”). You will forfeit as of your Separation from Service your Option Right that is not vested pursuant to this paragraph. Separation from Service is defined in the Plan. Generally, it means the last day of your relationship with us as a common-law employee as reflected on our payroll records. You will also forfeit your Option Right or we may recover any compensation related thereto to the extent the Board of Directors of the Corporation determines that its value is based on financial results or operating objectives impacted by your knowing or intentional fraudulent or illegal conduct and that such forfeiture or recovery is appropriate. You will also forfeit your Option Right immediately as of your breach of a restrictive covenant under your employment agreement.

3.  Acceleration of Vesting
Your Option Right will vest fully on your Separation from Service under the following circumstances:

	
		
	Event
	Condition for Vesting Acceleration

	Death
	If you die.

	Disability
	If you have a Separation from Service under circumstances that make you eligible for benefits under the Sprint Long-Term Disability Plan.

	Involuntary Termination without Cause or Resignation with Good Reason
	If you have a Separation from Service under circumstances that you receive severance benefits under the Sprint Separation Plan (or its successor) the Sprint Change in Control Severance Plan (or its successor) or your employment agreement.

Hesse Stock Option Retention Award Agreement

4.  Exercise of Option Right
To the extent it has vested, you may exercise your Option Right under this Award in whole or in part at the time or times as permitted by the Plan if the Option Right has not otherwise expired, been forfeited or terminated. To exercise you must:
		
	•
	deliver a written election under procedures we establish (including by approved electronic medium) and 

		
	•
	pay the Option Price. 

You may pay the Option Price by
		
	•
	check or by wire transfer of immediately available funds, 

		
	•
	actual or constructive transfer of shares of Common Stock you have owned for at least six months having a market value on the Exercise Date equal to the total Option Price, or

		
	•
	any combination of cash, shares of Common Stock and other consideration as the Compensation Committee may permit.

If you pay the Option Price by delivery of funds or shares of Common Stock, the value per share for purposes of determining your taxable income from such an exercise will be the Market Value Per Share of the Common Stock on the immediately preceding day before the exercise except that we will use the average of the high and low prices on that date in lieu of the closing price.

To the extent permitted by law, you may pay the Option Price from the proceeds of a sale through a broker we designate. The Market Value Per Share for purposes of determining your taxable income from such an exercise will be the actual price at which the broker sold the shares.

5.  Expiration of Option Right
Unless terminated earlier in accordance with the terms of this Agreement or the Plan, the Option Right granted herein will expire at 4:00 P.M., U.S. Eastern Time, on the tenth anniversary of the Grant Date (the “Expiration Date”). If the tenth anniversary of the Grant Date, however, is a Saturday, Sunday or any other day on which the market on which our Common Stock trades is closed (a “Non-Business Day”), then the Expiration Date will occur at 4:00 P.M., U.S. Eastern Time, on the first business day before the tenth anniversary of the Grant Date. 

If the last day to exercise is a Non-Business Day, then you must exercise no later than the previous business day. You are solely responsible for managing the exercise of your Option Award in order to avoid inadvertent expiration.

6.  Effect of your Separation from Service
The length of time you have to exercise your vested Option Right after your Separation from Service is described in the table below. The Option Right will expire as of the end of the applicable period. In no event, however, may you exercise your Option Right after the Expiration Date.

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Hesse Stock Option Retention Award Agreement

	
		
	Termination Event
	Time to Exercise Vested Options

	Resignation or Involuntary termination (not for Cause)
	May exercise up through the 90th day after your Separation from Service

	Death
	May exercise up through the 12th month after your Separation from Service

	Disability - if you have a termination of employment under circumstances that would make you eligible for benefits under the company’s long-term disability plan
	May exercise up through 60 months after your Separation from Service

	Termination for Cause
	Forfeited as of Separation from Service

7.  Transfer of your Option Right and Designation of Beneficiaries 
Your Option Right represents a contract between the Corporation and you, and your rights under the contract are not assignable to any other party during your lifetime.  Upon your death, your Option Right may be exercised in accordance with the terms of the Award by any beneficiary you name in a beneficiary designation or, if you make no designation, by your estate. 

8.  Plan Terms
All capitalized terms used in this Agreement that are not defined in this Agreement have the same meaning as those terms have in the Plan.  The terms of the Plan are hereby incorporated by this reference. The Plan is available on line at http://iconnect.corp.sprint.com/portal/iland/?dochome=iw&docpath=IntranetDirectory/LandingPage/20080605_1650_10367056#LTI.

9.  Adjustment
In the event of any change in the number or kind of outstanding shares of our Common Stock by reason of a recapitalization, merger, consolidation, reorganization, separation, liquidation, stock split, stock dividend, combination of shares or any other change in our corporate structure or shares of our Common Stock, an appropriate adjustment will be made consistent with applicable provisions of the Code and applicable Treasury Department rulings and regulations in the number and kind of shares subject to outstanding Awards and any other adjustments as the Board deems appropriate.

10.  Amendment; Discretionary Nature of Plan
This Agreement is subject to the terms of the Plan, as may be amended from time to time, except that the Award which is the subject of this Agreement may not be materially impaired by any amendment or termination of the Plan approved after the Date of Grant without your written consent. You acknowledge and agree that the Plan is discretionary in nature and may be amended, cancelled, or terminated by the Corporation, in its sole discretion, at any time. The grant of the Option Award under the Plan is a one-time benefit and does not create any contractual or other right to receive a grant of Option

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Hesse Stock Option Retention Award Agreement

Awards, other types of grants under the Plan, or benefits in lieu of such grants in the future. Future grants, if any, will be at the sole discretion of the Corporation, including, but not limited to, the timing of any grant, the number of shares underlying the Option Award granted, and vesting provisions.

11.  Data Privacy
By entering into this agreement, you (i) authorize us, and any agent of ours administering the Plan or providing Plan recordkeeping services, to disclose to us or our subsidiaries such information and data as we or our subsidiaries request in order to facilitate the grant of the Option Right and the administration of the Plan; (ii) waive any data privacy rights you may have with respect to such information; and (iii) authorize us to store and transmit such information in electronic form.

12.  Governing Law
This Agreement will be governed by the laws of the State of Kansas.  No shares of Common Stock will be delivered upon the exercise of the Option Right unless counsel for the Corporation is satisfied that such delivery will be in compliance with all applicable laws.

13.  Severability
The various provisions of this Agreement are severable, and any determination of invalidity or unenforceability of any one provision shall have no effect on the remaining provisions.

14.  Entire Agreement
You hereby acknowledge that you have read the Sprint Corporation 2007 Omnibus Incentive Plan Information Statement dated July, 2013 (the “Information Statement”) available on line at http://iconnect.corp.sprint.com/portal/iland/?dochome=iw&docpath=IntranetDirectory/LandingPage/20080605_1650_10367056#LTI.  To the extent not inconsistent with the provisions of this Agreement, the terms of the Information Statement and the Plan are hereby incorporated by reference.  This Agreement, along with the Information Statement and the Plan, contain the entire understanding of the parties. 

Sprint Corporation                    Daniel R. Hesse
            

By: /s/ Sandra J. Price                    /s/ Daniel R. Hesse
                        
This document constitutes part of a prospectus covering securities that have been registered under the Securities Act of 1933 

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