Document:

d093020dex101

Exhibit 10 
.1 
 
APPOINTMENT AND INDEMNITY OF 
SUCCESSOR 
TRUSTEE 
OF THE AMENDED AND RESTATED 
TRUST AGREEMENT BETWEEN 
PHILLIPS PETROLEUM 
COMPANY AND WESTAR 
BANK 
 
This instrument 
dated 
July____, 2020, 
effective 
as of ___________ 
2020 
(the “Effective 
Date”) 
by and 
between 
CONOCOPHILLIPS COMPANY
 
(“Company”) 
and 
WELLS FARGO BANK, N. A.
 
(“Successor 
Trustee”): 
 
WHEREAS,
 
Company 
established the Amended 
and Restated 
Trust Agreement 
between 
Phillips 
Petroleum 
Company 
and Weststar 
Bank 
(the “Trust” or “Trust Agreement”) to 
provide 
certain 
benefits 
to a select group 
of management 
or highly 
compensated 
employees 
on June 23, 1995 and 
subsequently 
amended 
on July 27, 
2020; 
 
 
WHEREAS,
 
the Trust holds 
all monies and 
other 
property, 
together 
with the 
income 
thereon, 
as may 
be paid 
or transferred 
to it in accordance 
with the terms and conditions of the arrangements 
covered 
by the 
Trust; 
 
 
WHEREAS,
 
the Company, 
pursuant 
to Section 11.4 
of the Trust Agreement, 
desires to 
appoint 
Wells 
Fargo Bank, 
National 
Association, 
as Successor Trustee, to 
replace 
Weststar 
Bank, 
now Arvest Bank, 
(the 
“Predecessor Trustee”) 
upon 
its removal; 
and 
the Successor Trustee desires to accept 
its appointment 
as 
successor trustee 
of the Trust and 
serve as 
trustee 
in accordance 
with the provisions of the Trust Agreement 
with the 
following clarification 
as of the Effective 
Date: 
the Company 
waives the right to enforce 
Section 10.3 
of the Trust 
Agreement; 
 
 
NOW, THEREFORE,
 
the parties 
hereto 
agree to 
undertake 
the following actions: 
 
1.
 
Beginning on 
the Effective 
Date, the Company 
appoints the Successor Trustee to 
act 
as the sole 
trustee 
under 
the Trust, 
replacing the 
Predecessor Trustee. 

 
2.
 
The Successor 
Trustee 
hereby 
acknowledges, 
confirms, 
and 
accepts 
its appointment 
as trustee 
and 
agrees to 
act 
as Successor Trustee 
under 
the Trust in accordance 
with the terms thereof and 
in 
accordance 
with this Agreement. 
The Successor 
Trustee 
hereby 
agrees to 
accept 
all assets presently 
held in the Trust 
and 
agrees to deposit such assets 
under 
the terms of 
the Trust Agreement. 
 
3.
 
In consideration 
of the agreement 
herein of Successor Trustee 
to become 
trustee 
of the Trust, 
Company 
understands 
and agrees the Successor Trustee shall have 
no obligation, duty 
or liability with 
respect to any 
period of time prior to 
its becoming 
Successor Trustee; 
 
a.
 
to determine 
whether any 
claims, losses or damages 
exist with respect to the 
Trust, or 
b.
 
to pursue or take 
any 
action with respect to any 
claims, losses or damages 
which exist with 
respect to the 
Trust, or 
c.
 
to review the performance 
by or acts of the Predecessor Trustee or to 
determine 
whether a breach 
of trust exists with respect 
to the 
Trust or has 
been 
committed 
by the Predecessor Trustee, or 
d.
 
to remedy 
any 
breach 
of trust which exists with respect 
to the 
Trust, or 
e.
 
to compel 
the Predecessor 
Trustee 
to deliver the 
trust corpus to 
it. 
 
4.
 
The Company 
further agrees to indemnify and 
hold harmless 
the Successor Trustee from 
any 
claims, 
losses or damages 
(including, but 
not 
limited to, costs, expenses 
and 
legal fees): 
 

 

 

 

 

 

 

a.
 
which exists as 
of the Effective 
Date 
with respect to 
the Trust; 
b.
 
which arise out 
of or in connection 
with: 
i.
 
acts 
or omissions with Predecessor 
Trustee, or any 
actions 
taken 
prior to the Effective 
Date 
with respect 
to the 
Trust; 
ii.
 
failure of 
Successor Trustee 
to determine 
whether any 
claims, losses or damages 
exist 
with respect 
to the 
Trust or arise out 
of or in connection 
with any 
acts 
or omissions which 
occurred 
prior to 
the 
date 
hereof 
with respect to the Trust; 
iii.
 
failure of 
Successor Trustee 
to determine 
whether a breach 
of trust exists with respect 
to 
the Trust or has 
been 
committed 
by the Predecessor Trustee; and 

iv.
 
failure of 
the Successor Trustee 
to compel 
the Predecessor Trustee 
to deliver trust 
property 
to it. 

 
5.
 
“Wells Fargo 
Bank, 
N. A.” 
shall be substituted 
throughout 
the Trust Agreement in lieu of Weststar 
Bank. 
 
6.
 
Except 
as herein above 
set out and 
in consideration 
of the covenants 
and promise of the Company 
contained 
herein, the Successor Trustee agrees to 
perform 
its duties and 
obligations as described in 
and 
under 
the Trust Agreement 
(the terms 
and 
conditions 
of which are 
incorporated 
herein) and 
applicable 
laws and 
regulations for the duration 
of its term as 
Successor Trustee. 
In the event 
Successor Trustee 
becomes 
aware 
of any 
claim, loss, breach 
or damage 
with respect to the Trust it will 
promptly 
inform 
the Company. 
 
7.
 
This Agreement 
shall be governed 
by and 
construed 
in accordance 
with the internal laws 
of the 
State 
of Oklahoma 
applicable 
to agreements 
made and 
to be performed 
entirely within such State, without 
regard to 
the conflicts 
of law principles of 
such 
State. 

 
IN WITNESS WHEREOF,
 
the parties hereto 
have 
set their hands 
and 
seals the day 
and year 
first above 
mentioned. 
 
 
CONOCOPHILLIPS COMPANY 
 

By: 
Name: 
Title: 
 
 
WELLS FARGO BANK, 
N. A. 
 
As Successor Trustee 
 
By: 
Name: 
Title:d093020dex102

Exhibit 10 
.2 
 
FIRST AMENDMENT TO 
THE 
AMENDED AND RESTATED 
TRUST AGREEMENT BETWEEN 
PHILLIPS PETROLEUM 
COMPANY AND 
WESTAR BANK, 
AS TRUSTEE 
 
WHEREAS,
 
Phillips 
Petroleum 
Company 
(now ConocoPhillips Company, 
hereinafter 
"Company") 
and 
Weststar 
Bank, 
a state 
banking corporation 
(now Arvest Bank, 
hereinafter 
the "Trustee") entered into an 
amended 
and restated 
trust agreement 
as of June 23, 1995 (the "Trust Agreement"), maintaining 
a trust (the 
"Trust") for 
the purpose 
of holding monies 
and 
other 
property 
in connection 
with the Deferred Compensation 
Plan for 
Non-Employee 
Directors of 
Phillips 
Petroleum 
Company 
(now the Deferred Compensation 
Plan for 
Non-Employee 
Directors of 
ConocoPhillips, hereinafter 
the "Plan"); and 
 
WHEREAS,
 
in accordance 
with Section 11.2 of the Trust Agreement, 
pursuant 
to a written notice dated 
October 16, 
2019, 
Arvest Bank 
has 
resigned as Trustee of 
the Trust, effective 
August 15, 2020, 
which 
resignation has 
been 
accepted 
by the Company; 
and 
 
WHEREAS,
 
in accordance 
with Section 11.4 of the Trust Agreement, 
the Company 
has by letter dated July 
30, 2020, 
designated 
Wells Fargo 
Bank, 
N.A., 
as successor Trustee 
of the 
Trust, effective 
contemporaneously 
with the 
resignation of 
Arvest Bank 
as Trustee; 
and 
 
WHEREAS,
 
in accordance 
with Section 11.4 of the Trust Agreement, 
Wells Fargo 
Bank, 
N.A., 
has 
accepted 
its designation 
as successor Trustee 
of the Trust and 
has 
delivered to 
Arvest Bank 
as Trustee 
its written 
acceptance 
of its designation as successor Trustee of 
the Trust, by 
letter dated 
July 29, 2020, 
and 
thus 
Wells 
Fargo Bank, 
N.A. 
is now Trustee 
of the Trust; and 
 
WHEREAS,
 
pursuant 
to Section 14.1 of the Trust Agreement, the 
Trust Agreement 
may 
be amended 
by a 
written instrument 
executed 
by the Trustee and 
the 
Company; 
 
NOW, THEREFORE, 
the Trust 
Agreement is amended, effective 
July 27, 2020, as follows: 
 
1.
 
Existing references 
to Westar 
Bank 
or Arvest Bank 
in the Trust Agreement or ancillary 
documents 
related 
thereto 
shall be hereafter 
considered 
to be references 
to Wells Fargo, 
N.A. 
2.
 
The following shall be 
added 
to Section 17, at the end thereof, to provide 
as follows: 
 
“17.9. 
This Trust Agreement 
and 
certain 
information 
relating to the Trust is 
“Confidential 
Information” 
pursuant to applicable federal 
and 
state law, and 
as such it shall be maintained 
in 
confidence 
and 
not 
disclosed, used or duplicated, 
except 
as described 
in this Section. 
If 
it is necessary 
for the 
Trustee 
to disclose Confidential 
Information 
to a third party in order to perform 
the Trustee's 
duties hereunder 
and 
the Company 
has 
authorized the Trustee to do so, the 
Trustee 
shall disclose only 
such Confidential 
Information 
as is necessary for such third party 
to perform 
its obligations to the 
Trustee 
and 
shall, before such disclosure is made, 
ensure that 
said third party 
understands 
and agrees 
to the confidentiality 
obligations set forth herein. 
The Trustee 
and 
the Company 
shall maintain 
appropriate 
information 
security programs 
and 
adequate 
administrative 
and physical 
safeguards 
to 
prevent 
the unauthorized 
disclosure, misuse, alteration 
or destruction of Confidential 
Information, 
and 
shall inform 
the other 
party 
as soon 
as possible of any 
security breach 
or other incident involving 
possible unauthorized 
disclosure of or access to Confidential 
Information. 
Confidential 
Information 
shall be returned 
to the disclosing party 
upon 
request. 
Confidential 
Information 
does not 
include 
information 
that 
is generally 
known 
or available 
to the public or that 
is not treated 
as confidential 
by 
the disclosing party, 
provided, 
however, 
that 
this exception 
shall not apply 
to any 
publicly available 

 

 

 

 

 

 

information 
to the extent 
that 
the disclosure or sharing of the 
information 
by one or both parties is 
subject 
to any 
limitation, restriction, consent, 
or notification 
requirement 
under 
any 
applicable 
federal 
or state 
information 
privacy law or regulation. 
If 
the receiving party 
is required by 
law, according 
to 
the advice 
of competent 
counsel, to disclose 
Confidential 
Information, 
the receiving party 
may 
do so 
without 
breaching 
this Section, 
but 
shall first, if feasible 
and 
legally permissible, provide the 
disclosing party 
with prompt notice of such pending disclosure so 
that 
the disclosing party 
may 
seek a 
protective 
order or other 
appropriate 
remedy 
or waive compliance 
with the provisions of this Section. 
 
17.10. 
Notwithstanding 
anything 
to the contrary 
contained 
herein, the Trustee shall not be 
responsible or liable for 
any 
losses to the 
Fund 
resulting from 
any 
event 
beyond 
the reasonable 
control 
of the Trustee, 
including but 
not 
limited to 
nationalization, 
strikes, expropriation, 
devaluation, 
seizure, 
eminent 
domain, 
or similar action by any 
governmental 
authority; 
or enactment, 
promulgation, 
imposition, or enforcement 
by any such governmental authority 
of currency 
restrictions, exchange 
controls, levies, or other 
charges 
affecting 
the Trust’s property; 
or the breakdown, 
failure, 
or 
malfunction 
of any utility, telecommunication, 
or computer 
systems; or any 
order or regulation of any 
banking 
or securities industry 
including changes 
in market 
rules and market 
conditions 
affecting the 
execution 
or settlement 
of transactions; 
or poor or incomplete data 
provided 
by the Company; 
or acts 
of war, terrorism, insurrection, 
or revolution; 
or acts 
of God; or any 
other 
similar event." 
 
The Trust 
Agreement is in all other 
respects ratified 
and 
confirmed 
without 
amendment. 
 
IN WITNESS WHEREOF,
 
this amendment 
to the Trust Agreement has been executed 
on behalf 
of the 
parties 
hereto 
on the 
___ 
day 
of ___________, 
2020. 
 
 
CONOCOPHILLIPS COMPANY 
WELLS FARGO BANK, 
N.A. 
 

By: 

 

Timothy 
D. Baker 
Its: 
Sr. Treasury 
Consultant 
By: 
Its: 
 

 

 
 
ATTEST 
ATTEST 
 
By: 
Its: 
By: 
Ryan 
A. Ackerman 
Its: 
Sr. Analyst, 
Trust Investments

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