Document:

exv10w3

 

Exhibit 10.3

AMENDMENT TO EMPLOYMENT AGREEMENT

     This Amendment to Employment Agreement (this “Amendment”) is made and entered into as of June
8, 2006 (the “Effective Date”), by and between Mariner Energy, Inc., a Delaware corporation (the
“Company”), and Teresa Bushman (“Executive”).

     WHEREAS, the Company and Executive have previously entered into the Employment Agreement dated
as of February 7, 2005 (the “Employment Agreement”), and desire to amend the Employment Agreement
as set forth below.

     NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged by the parties, the Company and Executive hereby agree as follows:

     1. Amendment. Section 8(a) of the Employment Agreement is hereby amended to read in its entirety as follows:

     “8. Change of Control.

     “(a) Upon the termination of Executive’s employment with the Company for any reason
other than Cause at any time on or within nine months after a Change of Control that occurs
during the Employment Period or upon the occurrence of a Change of Control within nine
months following a termination of Executive’s employment that entitles Executive to
severance under Section 7(c), the Company shall pay Executive, subject to Section 8(d)
below, an amount equal to 2.5 times the sum of Executive’s Base Salary plus her Average
Bonus Amount. The Executive’s “Average Bonus Amount” shall be the average annual amount
paid or payable to Executive as bonuses for the Company’s three calendar years ended
immediately prior to the occurrence of the Change of Control (or for the number of calendar
years that Executive has been an employee of the Company before the occurrence of the Change
of Control, if less than three); provided that any payment otherwise payable under this
Section 8(a) shall be subject to Section 7(h) notwithstanding that such payment is not a
severance payment.”

     2. Governing Law. THIS AMENDMENT WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF TEXAS, WITHOUT REFERENCE TO PRINCIPLES OF CONFLICT OF LAWS.

     3. Entire Agreement and Amendment. The Employment Agreement and this Amendment
contain the entire agreement of the parties with respect to Executive’s employment and the other
matters covered herein (except to the extent that other agreements are specifically referenced
therein or herein).

     4. Counterparts. This Amendment may be executed in any number of counterparts, each of which
when so executed and delivered shall be an original, but all such counterparts shall together
constitute one and the same instrument. Each counterpart may consist

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of a copy hereof containing multiple signature pages, each signed by one party, but together
signed by both parties hereto.

     5. Code Section 409A Compliance. Notwithstanding anything in the Employment Agreement or
this Amendment to the contrary, if any provision thereof or hereof would result in the imposition
of an additional tax under Code Section 409A and related regulations and Treasury pronouncements
(“Section 409A”), that provision will be reformed to avoid imposition of the applicable tax and no
action taken to comply with Section 409A shall be deemed to adversely affect Executive’s rights
under the Employment Agreement, as amended hereby.

     IN WITNESS WHEREOF, Executive and the Company have executed this Amendment to be effective for
all purposes as of the Effective Date.

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	EXECUTIVE:	 	 
	 
	 	 	 	 	 	 
	 	 	/s/ Teresa Bushman	 	 
	 	 	 	 	 
	 	 	               Teresa Bushman	 	 
	 
	 	 	 	 	 	 
	 	 	MARINER ENERGY, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Scott D. Josey	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	               Scott D. Josey	 	 
	 

	 	 	 	               Chief Executive Officer	 	 
	 

	 	 	 	               and President	 	 

B-2exv10w3

 

Exhibit 10.3

DIGENE CORPORATION

Restricted Stock Unit Award Certificate

	 	 	 	 	 
	Award Date:                  ,              

	 	Number of

Restricted Stock Units:                    
	 	Final Vesting

Date:                                        

     THIS CERTIFIES THAT Digene Corporation (the “Company”) has on the Award Date specified above
granted to

«First_Name» «Last_Name»

     (the “Participant”) an award (the “Award”) to receive that number of Restricted Stock Units
(the “RSUs”) indicated above in the box labeled “Number of Restricted Stock Units,” each RSU
representing the right to receive one share of the Company’s common stock, $.01 par value per share
(the “Common Stock”), subject to certain restrictions and on the terms and conditions contained in
this Award Certificate and the Company’s Amended and Restated 1999 Incentive Plan (the “Plan”). In
the event of any conflict between the terms of the Plan and this Award Certificate, the terms of
the Plan shall prevail. Any terms not defined herein shall have the meaning set forth in the Plan.

* * * *

1. Rights of the Participant with Respect to the Restricted Stock Units.

(a) No Stockholder Rights. A Participant shall not be deemed to be the holder of
Common Stock, or to have any of the rights of a holder of Common Stock, with respect to any
shares underlying the RSUs granted pursuant to the Award, unless and until the forfeiture
restrictions lapse, in accordance with Section 2 or 3, and a stock certificate representing
such shares of Common Stock is issued to the Participant in accordance with Section 1(b).

(b) Conversion of Restricted Stock Units; Issuance of Common Stock. No shares of
Common Stock shall be issued to a Participant prior to the date on which the RSUs vest and
the restrictions with respect to the RSUs lapse, in accordance with Section 2 or 3. Neither
this Section 1(b) nor any action taken pursuant to or in accordance with this Section 1(b)
shall be construed to create a trust of any kind. After all restrictions with respect to
the RSUs lapse pursuant to Section 2 or 3, the Company shall cause to be issued as soon as
practicably possible, in book-entry or certificated form, registered in the Participant’s
name or in the name of the Participant’s legal representatives, beneficiaries or heirs, as
the case may be, in payment for such RSUs that number of shares of Common Stock equal to the
number of RSUs with respect to which the restrictions have lapsed.

2. Vesting. Subject to Section 4, the RSUs shall vest and all restrictions with respect to
such RSUs shall lapse as follows if the Participant serves continuously as an Employee of the
Company until the [respective] vesting date[s]:

 

 

3. Forfeiture or Early Vesting Upon Ceasing to be an Employee.

(a) Ceasing to be an Employee Generally. In the event of a Participant’s
Termination of Employment prior to vesting of the RSUs pursuant to Section 2 for any reason,
other than death or Disability, as defined in the Plan, such unvested RSUs shall be
immediately and irrevocably forfeited.

(b) Death or Disability. Upon the death or Disability, as defined in the Plan, of a
Participant while an Employee, all of the RSUs shall become immediately and unconditionally
vested and the restrictions with respect to such RSUs shall lapse.

4. Forfeiture for Competition. If the Participant provides services to a competitor of the
Company or any of its subsidiaries, whether as an employee, officer, director, independent
contractor, consultant, agent or otherwise, such services being of a nature that can reasonably be
expected to involve the skills and experience used or developed by the Participant while an
Employee, and the Committee determines, in its sole discretion, that the provision of such services
constitutes a breach of the Participant’s non-compete agreement with the Company, then that
Participant’s rights to any Awards hereunder shall automatically be forfeited.

5. Restriction on Transfer. No RSUs or rights thereunder shall be transferable by the
Participant prior to vesting and lapse of the forfeiture restrictions, in accordance with Section 2
or 3, otherwise than by will or by the laws of descent and distribution, to the extent consistent
with the terms of Award Certificate and the Plan.

6. Tax Matters.

(a) In order to comply with all applicable federal, state and local tax laws or regulations,
the Company may take such actions as it deems appropriate to ensure that all applicable
federal, state and local payroll, withholding, income or other taxes are withheld or
collected from the Participant.

(b) In accordance with the terms of the Plan, and such rules as may be adopted by the
Committee under the Plan, the Participant may elect to satisfy the Participant’s federal,
state and local tax withholding obligations arising from the receipt of, the vesting of or
the lapse of restrictions relating to, the RSUs, by (i) delivering cash, check or money
order payable to the Company, or (ii) having the Company withhold a portion of the shares of
Common Stock otherwise to be delivered having a Fair Market Value, as defined in the Plan,
equal to the amount of such taxes. The Company will not deliver any fractional share of
Common Stock but will instead round down to the next full number the amount of shares of
Common Stock to be delivered. The Participant’s election must be made on or before the date
that any such withholding obligation with respect to the RSUs arises. If the Participant
fails to timely make such an election, the Company shall have the right to withhold a
portion of the shares of Common Stock otherwise to be delivered having a Fair Market Value
equal to the amount of such taxes.

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7. Miscellaneous.

(a) The Award does not confer on the Participant any right with respect to the continuance
of employment by the Company or any of its subsidiaries, nor will it interfere in any way
with the right of the Company to terminate the Participant’s employment at any time.

(b) The Company shall not be required to deliver any shares of Common Stock upon vesting of
any RSUs until the requirements of any federal or state securities laws, rules or
regulations or other laws or rules (including the rules of any securities exchange) as may
be determined by the Company to be applicable are satisfied.

(c) An original record of the Award and all the terms thereof shall be held on file by the
Company. To the extent there is any conflict between the terms contained in the Award
Certificate and the terms contained in the original record held by the Company, the terms of
the original record held by the Company shall control.

8. Governing Law. This Award Certificate shall be governed and construed in
accordance with the laws of the State of Delaware, without regard to the conflict of laws
principles thereof.

A copy of the Amended and Restated 1999 Incentive Plan is attached to this Certificate.

DIGENE CORPORATION

___________________________

________, ____

By my signature below, I hereby acknowledge receipt of this Award Certificate on the date shown
above, which has been issued to me under the terms and conditions of the Plan. I further
acknowledge receipt of the copy of the Plan and agree to conform to all of the terms and conditions
of the Award Certificate and the Plan.

	 	 	 	 	 	 	 	 	 	 	 
	Signature:

	 	 	 	 	 	Date:	 	 	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	 

	 	«First_Name» «Last_Name»	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 

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