Document:

EX-10.43

 Exhibit 10.43 

AMENDMENT TO PERFORMANCE SHARE UNIT AWARD AGREEMENT 

UNDER THE 
 DEVON
ENERGY CORPORATION 2009 LONG-TERM INCENTIVE PLAN 
 THIS AMENDMENT TO PERFORMANCE SHARE UNIT AWARD AGREEMENT (“Amendment”)
is entered into effective as of September 16, 2015 by and between Devon Energy Corporation, a Delaware corporation (the “Company”), and John Richels (the “Participant”). 

W I T N E S S E T H: 

WHEREAS, on February 10, 2015 the Company and the Participant entered into a certain Performance Share Unit Agreement under the Devon
Energy Corporation 2009 Long-Term Incentive Plan, as amended and restated June 6, 2012, and as further amended March 6, 2013 (the “Agreement”), which granted to the Participant 70,100 (“Seventy Thousand One Hundred”)
shares of Performance Units (the “Performance Share Units”) in exchange for the Participant’s performance of future services for the Company subject to the terms and conditions of the Agreement; and 

WHEREAS, subsequent to the date of the Agreement, Participant retired from his position as President and Chief Executive Officer of the
Company, effective July 31, 2015; and 
 WHEREAS, the Company and the Participant desire to amend the Agreement with respect to the
number of shares of Performance Share Units granted to Participant; and 
 WHEREAS, the Board of Directors of the Company has approved the
amendment of the Agreement as set forth herein. 
 NOW, THEREFORE, for good and valuable consideration, the receipt of which is hereby
acknowledged, the parties hereto agree that the Agreement is hereby amended as follows: 
  

	1.	The second WHEREAS clause is amended and restated to read as follows: 

 “WHEREAS, in
connection with the Participant’s employment with the Company, the Company desires to award to the Participant 41,000 (“Forty One Thousand”) Performance Shares Units subject to the terms and conditions of this Award Agreement and the
Plan; and” 
  

	2.	Numbered Paragraph 2 of the Agreement is amended and restated to read as follows: 

 2. Grant
of Award. The Company hereby grants to the Participant a target award (the “Award”) of 41,000 (“Forty One Thousand”) Performance Share Units, on the terms and conditions set forth herein and in the Plan. Each Performance
Share Unit that vests entitles the Participant to one share of Common Stock. 
 The Agreement is not amended in any respect except as herein
provided. 

 All capitalized terms used in this Amendment shall have the same meaning ascribed to them in the
Plan and the Agreement unless specifically denoted otherwise. 
 IN WITNESS WHEREOF, the parties have executed this Amendment effective as
of the day and year first above written. 
  

							
	 “ Company”
	 		 	 Devon Energy Corporation, a Delaware corporation

				
		 		 	By:	 	 /s/ Frank W. Rudolph

		 		 		 	Frank W. Rudolph
		 		 		 	Executive Vice President, Human Resources
			
	 “Participant”
	 		 	 /s/ John Richels

		 		 	John Richels

  
 2EX-10.44

 Exhibit 10.44 

AMENDMENT TO PERFORMANCE RESTRICTED STOCK AWARD AGREEMENT 

UNDER THE 
 DEVON
ENERGY CORPORATION 2009 LONG-TERM INCENTIVE PLAN 
 THIS AMENDMENT TO PERFORMANCE RESTRICTED STOCK AWARD AGREEMENT
(“Amendment”) is effective as of September 16, 2015 by and between Devon Energy Corporation, a Delaware corporation (the “Company”), and John Richels (the “Participant”). 

W I T N E S S E T H: 

WHEREAS, on February 10, 2015 the Company and the Participant entered into a certain Performance Restricted Stock Award Agreement under
the Devon Energy Corporation 2009 Long-Term Incentive Plan, as amended and restated June 6, 2012, and as further amended March 6, 2013 (the “Agreement”), which granted to the Participant 70,120 (“Seventy Thousand One Hundred
Twenty”) shares of Restricted Stock that vests based upon performance standards (the “Performance Restricted Stock”) in exchange for the Participant’s performance of future services for the Company subject to the terms and
conditions of the Agreement; and 
 WHEREAS, subsequent to the date of the Agreement, Participant retired from his position as President and
Chief Executive Officer of the Company, effective July 31, 2015; and 
 WHEREAS, the Company and the Participant desire to amend the
Agreement with respect to the number of shares of Performance Restricted Stock granted to Participant; and 
 WHEREAS, the Board of
Directors of the Company has approved the amendment of the Agreement as set forth herein. 
 NOW, THEREFORE, for good and valuable
consideration, the receipt of which is hereby acknowledged, the parties hereto agree that the Agreement is hereby amended as follows: 
  

	1.	The second WHEREAS clause is amended and restated to read as follows: 

 “WHEREAS, in
connection with the Participant’s employment with the Company, the Company desires to award to the Participant 41,000 (“Forty One Thousand”) shares of the Company’s Common Stock under the Plan subject to the terms and conditions
of this Award Agreement and the Plan; and” 
  

	2.	Numbered Paragraph 2 of the Agreement is amended and restated to read as follows: 

 2. Grant
of Award. The Company hereby grants to the Participant an award (the “Award”) of 41,000 (“Forty One Thousand”) shares of the Company’s Common Stock subject to the restrictions placed thereon pursuant to the terms of this
Award Agreement (“Performance Restricted Stock”), on the terms and conditions set forth herein and in the Plan. 
 The Agreement
is not amended in any respect except as herein provided. 

 All capitalized terms used in this Amendment shall have the same meaning ascribed to them in the
Plan and the Agreement unless specifically denoted otherwise. 
 IN WITNESS WHEREOF, the parties have executed this Amendment effective as
of the day and year first above written. 
  

							
	“Company”	 		 	Devon Energy Corporation, a Delaware corporation
				
		 		 	By:	 	 /s/ Frank W. Rudolph

		 		 		 	Frank W. Rudolph
		 		 		 	Executive Vice President, Human Resources
			
	“Participant”	 		 	 /s/ John Richels

		 		 	John Richels

  
 2AMENDMENT OF

EMPLOYMENT AGREEMENT

WHEREAS, Everest Global Services, Inc. (the "Company") and John P. Doucette (the "Executive") are Parties to an employment agreement made as of September 1, 2013 (the "Employment Agreement"); and

WHEREAS, the Parties to the Employment Agreement desire to amend certain provisions of that Agreement;

NOW, THEREFORE, in consideration of the promises and mutual covenants contained herein and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Employment Agreement is hereby amended, effective as of February 12, 2016, by substituting the following:

(I)            for Section 4(c) of the Employment Agreement:

"4.            Compensation.

(c)  Executive Stock Based Incentive Plan.  The Executive shall be eligible to participate in and receive such equity incentive compensation as may be granted by the Compensation Committee from time to time pursuant to the Everest Re Group, Ltd. 2010 Stock Incentive Plan, as such plan may then be in effect and as it may be amended or superseded from time to time or any successor plan (the "Stock Plan").  All awards to the Executive under the Stock Plan shall be determined by the Compensation Committee in its discretion.  Except as expressly set forth in this Agreement, all equity awards shall be subject to the terms of the Stock Plan.

With respect to all outstanding and unvested Performance Stock Unit Award Agreements granted to Executive, the following sections of each such agreement shall be deemed amended as follows:

'5.       Termination of Employment.  Except as otherwise provided in this Paragraph 5, if the Participant's Date of Termination occurs for any reason prior to the last day of the Restricted Period, all Covered Units shall be immediately forfeited.

Notwithstanding the foregoing:

(a)  If the Participant's Date of Termination occurs due to a Qualifying Termination prior to the last day of the Restricted Period, then the Participant shall remain eligible to receive shares for any Installments of Covered Units (to the extent not previously forfeited or settled) on or after such Qualifying Termination subject to the terms of this Agreement and subject to the Participant (for all Qualifying Terminations other than due to Retirement or death or Disability) signing and not revoking a general release and waiver of all claims against the Corporation.  If such release is not effective on or before the last day 

 

of the sixty-day period following the Date of Termination, the Participant shall immediately forfeit all of the Covered Units.

(b)  In the case of a Qualifying Termination that occurs to prior to a Change in Control (that is not a Vesting Change in Control) and that is not due to Retirement or death or Disability, the Participant shall immediately forfeit all Covered Units (to the extent not previously settled) in the event the Participant engages in any Competitive Activity or violates any non-compete or non-solicitation obligation contained in any other agreement to which Participant is a party.' "

(III)            for Section 6 of the Employment Agreement:

		"6.	Termination of Employment

		(c)	Termination without Cause or for Good Reason.

		(iv)	except for outstanding and unvested Performance Stock Unit Awards addressed in Section 4(c), all of Executive's then unvested restricted stock or restricted stock units granted to Executive will continue to vest and restrictions lapse in accordance with their respective terms over the 12 month period immediately following such termination date, conditioned on the Company receiving from Executive the release of claims referred to in Section 6(h) below;"

Except as specifically amended hereby, the Employment Agreement is hereby ratified and confirmed in all respects and remains in full force and effect.  Whenever the Employment Agreement is referred to in this amendment to the Employment Agreement (this "Amendment") or in any other agreement, document or instrument, such reference shall be deemed to be to the Employment Agreement, as amended by this Amendment, whether or not specific reference is made to this Amendment.

This Amendment may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.  The execution of this Amendment may be by actual signature or by signature delivered by facsimile or by e-mail as a portable document format (.pdf) file or image file attachment.

 

2

IN WITNESS WHEREOF, the parties have executed this amendment to the Employment Agreement as of February 12, 2016.

EVEREST GLOBAL SERVICES, INC.

 

	
/S/ SANJOY MUKHERJEE

	
 

	
/S/ JOHN P. DOUCETTE

	
2/16/16

	 
	
Sanjoy Mukherjee

	
 

	
John P. Doucette

	
 

	 
	
Executive Vice President

	
 

	
 

	
 

	 

  

 

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