Document:

Exhibit 10.6

 

WESTERN GAS RESOURCES,
INC.

2002 NON-EMPLOYEE
DIRECTORS’ STOCK OPTION AGREEMENT

 

 

THIS AGREEMENT, made as of May 5, 2006, by and between
Western Gas Resources, Inc. (hereinafter called the “Corporation”), a Delaware
corporation, and Brion Wise, a non-employee director of the Corporation
(hereinafter called the “Optionee”).

 

RECITALS:

 

A.            The Optionee is
eligible as a non-employee director of the Corporation to participate in the
Western Gas Resources, Inc. 2002 Non-Employee Director’s Stock Option Plan (the
“Plan”).

 

B.            The Board of
Directors of the Corporation considers it desirable and in the Corporation’s
best interests that the Optionee be given an opportunity to purchase shares of
its Common Stock in furtherance of the Plan to provide incentive for the
Optionee to remain as a director of the Company and to promote the success of
the Corporation.

 

NOW THEREFORE, in consideration of the premises, it is
agreed as follows:

 

1.  Grant of
Option.  The Corporation hereby
grants as of May 5, 2006 (the “Grant Date”) to the Optionee the right,
privilege and option to purchase 4,000 shares of the Common Stock par value
$0.10 (the “Common Stock”) of the Corporation, at a purchase price of Fifty-Two
Dollars and Seventy-Eight 100ths ($52.78) per share in the manner and subject
to the conditions hereafter provided. 
Said purchase price is not less than the Fair Market Value (as that term
is defined in the Plan) of the shares of Common Stock of the Corporation at the
time this option was granted.

 

2.  Period of
Exercise of Option.  This Option may
be exercised in whole or in part, or in installments, from time to time, with
respect to the shares covered hereby, in the amounts and at the times specified
below.  The Option or any portion
thereof, once it becomes exercisable as specified below, shall remain
exercisable until it shall expire in accordance with the provisions of this
Agreement.

 

(a) 
Notwithstanding anything herein to the contrary, no Option or portion
thereof granted under this Agreement may be exercised after the earlier of (i)
five (5) years after the date the Optionee has the right to exercise such
Option or portion thereof, in accordance with paragraph 2(b) below; or (ii) ten
(10) years after the Option is granted.

 

(b)  Except as
expressly provided in Section 2(e), below, an Optionee shall become entitled to
exercise that portion of the Option and to purchase the percentage of the
Common stock subject to the Option in accordance with the following schedule:

 

(1)           Commencing
one (1) year from the Grant Date, the Optionee shall have the right to exercise
thirty-three and one-third percent (33-1.3%) of the Option and to purchase an 

 

 

 

additional thirty-three and one-third percent (33-1/3%) subject to the
Option.

 

(2)           Commencing
two (2) years from the Grant Date, the Optionee shall have the right to
exercise thirty-three and one-third percent (33-1.3%) of the Option and to
purchase an additional thirty-three and one-third percent (33-1/3%) subject to
the Option.

 

(3)           Commencing
three (3) years from the Grant Date, the Optionee shall have the right to
exercise thirty-three and one-third percent (33-1.3%) of the Option and to
purchase an additional thirty-three and one-third percent (33-1/3%) subject to
the Option.

 

The Optionee’s right to purchase Shares subject to the
Option shall be cumulative, so that three (3) years from the Grant Date, the
Optionee shall be entitled to exercise one hundred percent (100%) of the Option
and to purchase all of the Common Stock subject to the Option, subject to all of
the provisions of this Agreements.

 

(c)           Except
as provided in Sections 2(d) and 2(e), an Optionee may exercise an Option only
if, at the time such Option is exercised, such Optionee is a director of, and
has continuously since the grant of the Option, been a director of the
Corporation or any subsidiary, parent, or predecessor of the Corporation.

 

(d)           If
an Optionee ceases to be a director for any reason other than (i) his or her
death or disability; or (ii) his or her discharge for dishonesty or commission
of a crime, the Optionee may, within three (3) months thereafter, and subject
to provisions of Sections 2(a), (b) and (c), exercise the Option to the extent
that the Option was exercisable as of the date of the Optionee ceased to be a
director. All unexercised Options, or portions thereof, shall terminate, be
forfeited, and shall lapse upon expiration of said three (3) month period, or
immediately if the Optionee ceases to be a director of the Corporation for any
of the reasons set forth in (ii), above.

 

(e)           If
an Optionee dies or becomes disabled while he is a director of the Corporation or
ceases to be a director as a result of disability, all of the Options granted
to such employee shall become one hundred percent (100%) exercisable, without
regard to the provisions of Section 2(b), above. In such event, the Options may
be exercised by the disabled director, or the person or persons to whom his or
her rights under the Option shall pass by will, or by the applicable laws of
descent and distribution; provided, however, that no such Option may be
exercised after 180 days from such directors’ s date of death, or the date
Optionee ceases to be a director as a result of disability, whichever is
applicable. Upon expiration of said period, all unexercised Options, or
portions thereof, shall terminate, be forfeited, and shall lapse.

 

(a)           (f) Notwithstanding the provision of
Section (b), above, in the event (1) there is a “Change of Control” of the
Corporation; and (2) the Optionee is removed as a director of the Corporation
without cause, then all of the options granted to such Optionee under this
Agreement shall become one hundred percent (100%) exercisable, subject to the
other provisions of this Section 2.  For
these purposes, a Change of Control of the Corporation shall mean (i) the
acquisition by any person or persons acting in concert (including corporations,
partnerships, associations or unincorporated organizations), of legal ownership
or beneficial 

 

 

 

ownership (within the meaning of Rule
13d-3, promulgated by the Securities and Exchange Commission and now in effect
under the Securities Exchange Act of 1934 (as amended), of a number of voting
shares of capital stock of the Corporation greater than either 30% or the
number of voting shares of capital stock of the Corporation that are then
owned, beneficially (as defined above), by Brion G. Wise, Bill M. Sanderson,
Walter L. Stonehocker, Dean Phillips, Ward Sauvage, their immediate families
and the companies through which they and their immediate families hold
ownership in the Corporation (“the Founders”), whichever is higher; (ii) a
merger or consolidation of the Corporation or any of its subsidiaries other
than a merger or consolidation immediately following which the directors of the
Corporation prior thereto constitute a majority of the of the board of the
surviving company or parent thereof; (iii) a change in the majority of the
Board pursuant to an actual or threatened proxy contest; or (iv) a sale of
substantially all of the Corporation’s assets.

 

3.  Method of
Exercise.  To exercise an Option, the
Optionee, or his or her successors, shall give written notice to the Treasurer
of the Corporation, at the Corporation’s principal office, accompanied by full
payment of the Common Stock being purchased. 
If the Option is exercised by the successor of the Optionee, following
his or her death, proof shall be submitted, satisfactory to the Board, of the
right of the successor to exercise the Option. 
The Corporation shall not be required to transfer or deliver any
certificate or certificates for shares purchased upon any such exercise of said
option: (a) until after compliance with all then applicable requirements of
law; and (b) prior to admission of such shares to listing on any stock exchange
on which the stock may then be listed. 
In no event shall the Corporation be required to issue fractional shares
to the Optionee.

 

4.  Limitation
Upon Exercise.  The option is not
transferable by the Optionee otherwise than by will or the laws of descent and
distribution and is exercisable, during the lifetime of Optionee, only by the
Optionee.

 

5.  Limitation
Upon Transfer.  Except as otherwise
provided hereto, the option and all rights granted hereunder shall not be
transferred by the Optionee, and may not be assigned, pledged, or hypothecated
in any way and shall not be subject to execution, attachment or similar
process. Upon any attempt to transfer the option, or to assign, pledge,
hypothecate or otherwise dispose of such Option or of any rights granted
hereunder, contrary to the provisions hereof, or upon the levy of any
attachment or similar process upon such option or such rights, such option and
such rights shall immediately become null and void.

 

6.  Stock
Adjustment.  In the event of any
change in Common Stock of the Corporation, by reason of a stock split, stock
dividend, recapitalization, exchange of shares, or other transaction, the
number of shares remaining subject to the option and the option price per share
shall be appropriately adjusted by the Board of Directors.

 

7.  Corporate
Reorganization.  If there shall be
any capital reorganization or consolidation or merger of the Corporation with
another corporation or corporations, or any sale of all or substantially all of
the Corporation’s properties and assets to any other corporation, the
Corporation shall take such action as may be necessary to enable the Optionee
to receive upon 

 

 

 

any subsequent exercise of such option, in whole or in part, in lieu of
shares of Common Stock, securities or other assets as were issuable or payable
upon such reorganization, consolidation, merger or sale in respect of, or in
exchange for such shares of Common Stock.

 

8.  Rights of
Stockholders.  Neither the Optionee,
his or her legal representative, nor other persons entitled to exercise the
option shall be or have any rights of a stockholder in the Company in respect
of the shares issuable upon exercise of the option granted hereunder, unless
and until certificates representing such shares shall have been delivered
pursuant to the terms hereof.

 

9.  Rights of
Director.  Nothing contained in this
Agreement shall confer upon Optionee any right to continue to remain as a
director of the Corporation.

 

10.  Stock
Reserved.  The Company shall at all
times during the term of this Agreement reserve and keep available such number
of shares of its Common Stock as will be sufficient to satisfy the terms of
this Agreement.

 

11.  Binding
Effect.  This Agreement shall be
binding upon and inure to the benefit of any successor or successors of the
Company.

 

IN WITNESS WHEREOF, the parties hereto have caused
this Agreement to be executed as of the day and year first above written.

 

WESTERN GAS RESOURCES, INC.

 

 

 

	
  By:

  	
   /s/ Peter A.
  Dea

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Brion G. Wise

  	
   

  
	
  OptioneeExhibit
10.7

 

VOTING AGREEMENT

 

 

                                                VOTING
AGREEMENT, dated as of June 22, 2006 (the “Agreement”),
among Anadarko Petroleum Corporation, a Delaware corporation (“Parent”), and Brion G. Wise (solely
in his, her or its capacity as a stockholder, “Stockholder”).

 

INTRODUCTION

 

                                                Parent, APC
Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of Parent
(“Merger Sub”), and Western Gas
Resources, Inc., a Delaware corporation (the “Company”),
propose to enter into an Agreement and Plan of Merger dated as of the date
hereof (as it may be amended or supplemented from time to time, the “Merger Agreement”), pursuant to
which, upon the terms and subject to the conditions thereof, Merger Sub will be
merged with and into the Company, and the Company will be the surviving entity
(the “Merger”).

 

                                                As of the date
hereof, Stockholder is the record and beneficial owner of the number of shares
(the “Shares”) of common stock, par
value $.10 per share, of the Company (the “Company Common Stock”)
set forth opposite Stockholder’s name on Schedule I attached hereto
(such Shares, together with any other shares of capital stock of the Company
acquired by Stockholder after the date hereof and during the term of this
Agreement (including through the exercise of any stock options or warrants, or
any other convertible or exchangeable securities or similar instruments of the
Company), being collectively referred to herein as Stockholder’s “Subject Shares”).

 

                                                As a condition
to its willingness to enter into the Merger Agreement, Parent has required that
Stockholder agree, and Stockholder is willing to agree, to the matters set
forth herein.

 

                                                In
consideration of the foregoing and the agreements set forth below, the parties
hereto agree as follows:

 

                                                Section
1. Defined Terms.  Capitalized
terms used but not defined herein have the meanings set forth in the Merger
Agreement.

 

                                                Section
2. Voting of Shares.

 

                                                (a)                                  Voting.  For so long as this Agreement is in effect,
subject to the terms and conditions hereof, Stockholder hereby agrees to vote
(or cause to be voted) all of Stockholder’s Subject Shares, at every annual,
special or other meeting of the stockholders of the Company, and at any
adjournments or postponements thereof, or pursuant to any consent in lieu of a
meeting or otherwise:

 

                                                (i)                                     in favor of the
Merger and the adoption of the Merger Agreement and the approval of the other
transactions contemplated thereby, and any actions required in furtherance
thereof;

 

 

1

 

                                                (ii)                                  against any
action or agreement that Stockholder would reasonably expect to result in a
breach in any material respect of any covenant, representation or warranty or
any other obligation of the Company under the Merger Agreement; and

 

                                                (iii)                               against (A) any
extraordinary corporate transaction, such as a merger, rights offering,
reorganization, recapitalization or liquidation involving the Company or any of
its subsidiaries (other than the Merger), (B) a sale or transfer of a material
amount of assets or capital stock of the Company or any of its subsidiaries, or
(C) any action that is intended, or would reasonably be expected, to prevent or
materially delay or otherwise materially interfere with the Merger and the
other transactions contemplated by the Merger Agreement.  Furthermore, Stockholder shall not
participate in any way in (and shall vote Stockholders’ Subject Shares against)
the calling of a special meeting of the Company’s stockholders at which any of
the foregoing is proposed to be voted upon.

 

                                                (b)                                 Grant of
Irrevocable Proxy.  Stockholder
hereby irrevocably grants to, and appoints, Parent and any individual who shall
hereafter be designated by Parent, and each of them, Stockholder’s proxy and
attorney-in-fact (with full power of substitution), for and in the name, place
and stead of Stockholder, to vote, or cause to be voted, Stockholder’s Subject
Shares, or grant a consent or approval in respect of Stockholder’s Subject
Shares, at every annual, special or other meeting of the stockholders of the
Company, and at any adjournments or postponements thereof, or pursuant to any
consent in lieu of a meeting or otherwise, with respect to the matters and in
the manner specified in Section 2(a) hereof; provided that the foregoing
proxy shall terminate immediately upon termination of this Agreement in
accordance with its terms.  Stockholder
understands and acknowledges that Parent is entering into the Merger Agreement
in reliance upon Stockholder’s execution and delivery of this Agreement.  Stockholder hereby affirms that the
irrevocable proxy set forth in this Section 2(b) is given in connection with
the execution of the Merger Agreement, and that such irrevocable proxy is given
to secure the performance of the duties of Stockholder under this Agreement.  Subject to this Section 2(b) and Section 10,
this grant of proxy is coupled with an interest and may under no circumstances
be revoked.  Stockholder hereby ratifies
and confirms all that such irrevocable proxy may lawfully do or cause to be
done in accordance herewith.  Such
irrevocable proxy is executed and intended to be irrevocable in accordance with
the provisions of Section 212(e) of the General Corporation Law of Delaware
(the “DGCL”).

 

                                                Section
3. Fiduciary Responsibilities.  All agreements and understandings made herein
shall be made solely in Stockholder’s capacity as a stockholder and (if
Stockholder is an officer or director of the Company) not in Stockholder’s
capacity as an director or officer of the Company.  Without limiting the generality of the
foregoing, Stockholder executes  and
delivers this Agreement and performs Stockholder’s obligations hereunder solely
in his, her or its capacity as the record and beneficial owner, as applicable,
of Stockholder’s Subject Shares and nothing herein shall limit or affect any
actions taken by Stockholder in his capacity as an officer or director of the
Company in exercising his or the Company’s or the Company’s Board of Directors’
rights or duties in connection with the Merger Agreement or otherwise and such
actions shall not be deemed to be a breach of this Agreement.

 

 

2

 

                                                Section
4. Representations and Warranties of Stockholder.  Stockholder represents and warrants to Parent
as follows:

 

                                                (a)                                  Binding
Agreement.  Stockholder
has the power and authority or capacity, as the case may be, to execute and
deliver this Agreement and to consummate the transactions contemplated
hereby.  Stockholder has duly and validly
executed and delivered this Agreement and this Agreement constitutes a legal,
valid and binding obligation of Stockholder, enforceable against Stockholder in
accordance with its terms, except as such enforceability may be limited by
applicable bankruptcy, insolvency, reorganization or other similar laws
affecting creditors’ rights generally and by general equitable principles
(regardless of whether enforceability is considered in a proceeding in equity
or at law).

 

                                                (b)                                 No Conflict.  Neither the execution and delivery of this
Agreement by Stockholder, nor the performance by Stockholder of its obligations
hereunder will, assuming any consent, authorization, waiver or exemption under
Section 203 of the DGCL applicable hereto has been obtained, (i) require any
consent, approval, authorization or permit of, registration, declaration or
filing (except for such filings as may be required under the federal securities
laws or the HSR Act or as would not reasonably be expected to prevent,
materially delay or otherwise materially impair Stockholder’s ability to
perform its obligations hereunder) with, or notification to, any Governmental
Authority, (ii) if Stockholder is an entity, result in a violation of, or
default under, or conflict with any provision of its certificate of
incorporation, bylaws, partnership agreement, limited liability company
agreement or similar organizational documents, (iii) violate or conflict with
any order, writ, injunction, decree, rule, regulation or law applicable to
Stockholder or Stockholder’s Subject Shares, (iv) result in a violation or
breach of, or constitute (with or without due notice or lapse of time or both)
a default (or give rise to any right of termination, cancellation, or
acceleration) under any contract, trust, agreement, instrument, commitment,
arrangement or understanding applicable to Stockholder or Stockholder’s Subject
Shares, or result in the creation of a security interest, lien, charge,
encumbrance, equity or claim with respect to any of Stockholder’s Subject
Shares, or (v) require any consent, authorization or approval of any Person
other than a Governmental Authority, except, in the case of clauses (iv) and
(v), as would not reasonably be expected to prevent, materially delay or
otherwise materially impair Stockholder’s ability to perform its obligations
hereunder.  If Stockholder is a married
individual and Stockholder’s Subject Shares constitute community property or
otherwise need spousal approval in order for this Agreement to be a legal,
valid and binding obligation of Stockholder, this Agreement has been duly
authorized, executed and delivered by, and constitutes a legal, valid and
binding obligation of, Stockholder’s spouse, enforceable against such spouse in
accordance with its terms, except as such enforceability may be limited by
applicable bankruptcy, insolvency, reorganization or other similar laws
affecting creditors’ rights generally and by general equitable principles
(regardless of whether enforceability is considered in a proceeding in equity
or at law).

 

                                                (c)                                  Ownership of
Shares.  Stockholder is the record
and/or beneficial owner of the Shares set forth opposite Stockholder’s name on Schedule
I attached hereto free and clear of any security interests, liens, charges,
encumbrances, equities, claims, options or limitations of whatever nature and
free of any other limitation or restriction (including any restriction on the
right to vote, sell or otherwise dispose of such Shares), other than those
created by this Agreement or as set forth on Schedule I attached hereto.
There are no outstanding options or 

 

 

3

 

other rights to acquire from Stockholder, or obligations of Stockholder
to sell or to dispose of, any shares of Company Common Stock, and none of
Stockholder’s Subject Shares are subject to vesting, except as set forth on Schedule
I attached hereto.  Stockholder holds
the exclusive power to vote the Shares set forth opposite Stockholder’s name on
Schedule I attached hereto.  As of
the date of this Agreement, the Shares set forth opposite Stockholder’s name on
such Schedule I attached hereto represent all of the shares of capital
stock of the Company owned (beneficially or of record) by Stockholder, except
shares of Company Common Stock which may be acquired by Stockholder upon
exercise of options, if any, held by Stockholder as set forth in such Schedule
and except as otherwise set forth on Schedule I attached hereto.

 

                                                (d)                                 Broker Fees.  No broker, investment banker, financial
advisor or other Person is entitled to any broker’s, finder’s, financial
advisor’s or other similar fee or commission based upon arrangements made by or
on behalf of Stockholder in connection with its entering into this Agreement.

 

                                                Section
5. Representations and Warranties of Parent.  Parent represents and warrants to Stockholder
as follows:

 

                                                (a)                                  Binding
Agreement.  Parent is a
corporation duly incorporated, validly existing and in good standing under the
laws of the State of Delaware and has full corporate power and authority to
execute and deliver this Agreement and to consummate the transactions contemplated
hereby. The execution and delivery of this Agreement by Parent and the
consummation of the transactions contemplated hereby have been duly and validly
authorized by the Board of Directors of Parent, and no other corporate
proceedings on the part of Parent are necessary to authorize the execution,
delivery and performance of this Agreement by Parent and the consummation of
the transactions contemplated hereby. 
Parent has duly and validly executed and delivered this Agreement and
this Agreement constitutes a legal, valid and binding obligation of Parent,
enforceable against Parent in accordance with its terms, except as such
enforceability may be limited by applicable bankruptcy, insolvency,
reorganization or other similar laws affecting creditors’ rights generally and
by general equitable principles (regardless of whether enforceability is
considered in a proceeding in equity or at law).

 

                                                (b)                                 No Conflict.  Neither the execution and delivery by Parent
of this Agreement, nor the performance by Parent of its obligations hereunder
will, assuming any consent, authorization, waiver or exemption under Section
203 of the DGCL applicable hereto has been obtained, (i) require any consent,
approval, authorization or permit of, registration, declaration or filing
(except for such filings as may be required under the federal securities laws
or the HSR Act or as would not reasonably be expected to prevent, materially
delay or otherwise materially impair Parent’s ability to perform its
obligations hereunder) with, or notification to, any Governmental Authority,
(ii) result in a violation of, or default under, or conflict with any provision
of its Certificate of Incorporation or Bylaws, (iii) violate or conflict with
any order, writ, injunction, decree, rule, regulation or law applicable to
Parent, (iv) result in a violation or breach of, or constitute (with or without
due notice or lapse of time or both) a default (or give rise to any right of
termination, cancellation, or acceleration) under any contract, trust, agreement,
instrument, commitment, arrangement or understanding applicable to Parent, or
(v) require any consent, authorization or approval of any Person other than a
Governmental Authority, except, in the case 

 

 

4

 

of clauses (iv) and (v), as would not prevent, materially delay or
otherwise materially impair such Parent’s ability to perform its obligations
hereunder.

 

                                                Section
6. Transfer and Other Restrictions.  For so long as this Agreement is in effect:

 

                                                (a)                                  Certain
Prohibited Transfers.  Stockholder
agrees not to:

 

(i)                                     sell, transfer,
pledge, encumber, assign or otherwise dispose whether by merger, consolidation
or operation of law (collectively, the “Transfer”)
of, or enter into any contract, option or other arrangement or understanding
with respect to the Transfer of, Stockholder’s Subject Shares or any interest
contained therein (other than, if the transactions contemplated by the Merger
Agreement are consummated, by operation of law in the Merger), except that any
Stockholder may Transfer any of the Subject Shares to any other holder of
Company Common Stock who is on the date hereof a party to this Agreement or
other agreement with Parent on terms substantially identical to the terms of
this Agreement, or to any other Person that, prior to or coincident with such
Transfer, executes an agreement with Parent on terms substantially identical to
the terms of this Agreement;

 

(ii)                                  grant any
proxies or powers of attorney or enter into a voting agreement or other
arrangement with respect to Stockholder’s Subject Shares, other than this
Agreement;

 

(iii)                               enter into, or
deposit Stockholder’s Subject Shares into, a voting trust or take any other
action which would, or could reasonably be expected to, result in a diminution
of the voting power represented by any of Stockholder’s Subject Shares; or

 

(iv)                              commit or agree
to take any of the foregoing actions that would reasonably be expected in any
way to limit, restrict or interfere with Stockholder’s obligations hereunder or
with the consummation of the Merger; provided, however, that the
restrictions in this Section 6 shall not be deemed violated by any Transfer of
Subject Shares pursuant to a cashless exercise of options to acquire Shares so
long as the Shares issuable upon exercise thereof become Stockholder’s Subject
Shares hereunder.

 

                                                (b)                                 Efforts.  For so long as this Agreement is in effect,
Stockholder agrees not to take any action which would reasonably be expected to
make any representation or warranty of Stockholder herein untrue or incorrect
in any material respect or knowingly take any action that would have the effect
of preventing or disabling it from performing its obligations under this
Agreement. Subject to Section 3 hereof, for so long as this Agreement is in
effect, Stockholder shall use Stockholder’s reasonable efforts to take, or
cause to be taken, all actions (including executing and delivering such
additional documents) and do, or cause to be done, and to assist and cooperate
with the other parties hereto in doing, all things, in each case, as may
reasonably be deemed by Parent to be necessary or desirable to carry out the
provisions of this Agreement.

 

                                                (c)                                  Additional
Shares.  In the event (i) of any stock
dividend, stock split, recapitalization, reclassification, combination or
exchange of shares of capital stock of the 

 

 

5

 

Company on, of or affecting Stockholder’s Subject Shares or (ii)
Stockholder becomes the beneficial owner of any additional shares of Company
Common Stock or other securities entitling the holder thereof to vote or give
consent with respect to the matters set forth in Section 2(a) hereof, then the
terms of this Agreement shall apply to the shares of capital stock or other
securities of the Company held by Stockholder immediately following the
effectiveness of the events described in clause (i) or Stockholder becoming the
beneficial owner thereof, as described in clause (ii), as though they were
Stockholder’s Subject Shares hereunder. 
Stockholder hereby agrees, while this Agreement is in effect, to notify
Parent of the number of any new shares of Company Common Stock acquired by
Stockholder, if any, after the date hereof.

 

                                                (d)                                 Certificates.  Stockholder agrees to submit his certificates
or certificates representing Stockholder’s Subject Shares so they may be
legended if required by applicable law for the enforceability of the transfer
restrictions set forth in this Section 6.

 

                                                Section
7.  Waiver of
Appraisal Rights. 
Stockholder hereby irrevocably and unconditionally waives, and agrees to
prevent the exercise of, any rights of appraisal, any dissenter’s rights and
any similar rights relating to the Merger that Stockholder may directly or
indirectly have by virtue of the ownership of the Subject Shares.

 

                                                Section
8.  No
Solicitation.  For so long
as this Agreement is in effect, no Stockholder shall, nor shall Stockholder
authorize any investment banker, attorney or other advisor or representative of
Stockholder to, directly or indirectly through another Person, solicit,
initiate or encourage, or take any other action to facilitate, any inquiries or
the making of any proposal that constitutes, or may reasonably be expected to
lead to, any Takeover Proposal; provided that any action which is
permitted by the Merger Agreement to be taken by Stockholder in his capacity as
a director or officer or which is permitted by Section 3 hereof shall not be
prohibited or restricted by the foregoing.

 

                                                Section
9.  Specific
Enforcement.  The parties
hereto agree that irreparable damage would occur in the event that any of the
provisions of this Agreement were not performed in accordance with the terms
hereof or were otherwise breached and that the non-breaching party shall be
entitled to specific performance of the terms hereof in addition to any other
remedy which may be available at law or in equity.  It is accordingly agreed that the
non-breaching party will be entitled to an injunction or injunctions to prevent
breaches of this Agreement and to enforce specifically the terms and provisions
of this Agreement in the Delaware Court of Chancery of the State of Delaware,
the foregoing being in addition to any other remedy to which they are entitled
at law or in equity.  In addition, each
of the parties hereto (i) consents to submit itself to the personal
jurisdiction of any state or federal court located in Wilmington, Delaware, in
the event any dispute arises out of this Agreement or any of the transactions
contemplated by this Agreement, (ii) agrees that it will not attempt to deny or
defeat such personal jurisdiction by motion or other request for leave from any
such court, and (iii) agrees that it will not bring any action relating to this
Agreement or any of the transactions contemplated by this Agreement in any
court other than the Delaware Court of Chancery of the State of Delaware.

 

                                                Section
10.  Termination.  This Agreement shall terminate and cease to
have any force or effect on the earliest of (i) the termination of the Merger
Agreement in accordance with its terms, 

 

 

6

 

(ii) the written agreement of the parties hereto to terminate this
Agreement, (iii) the consummation of the Merger, (iv) the amendment of the
Merger Agreement to decrease the Merger Consideration or otherwise alter the
Merger Consideration in a manner adverse to Stockholder unless such amendment
has been consented to by Stockholder in writing prior to or simultaneously with
such amendment, and (v) if the Merger has not been consummated by December 31,
2006, notice at any time thereafter from any party hereto to the other parties
of such party’s election to terminate this Agreement (provided, however, that
the right to terminate this Agreement pursuant to this clause (v) shall not be
available to any party that is in breach in any material respect of its
obligations hereunder); provided, however, that (1) Sections 3,
10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20 and 21 shall survive any termination
of this Agreement and (2) termination of this Agreement shall not relieve any
party from liability for any breach of its obligations hereunder committed
prior to such termination.

 

                                                Section
11.  Notices.  All notices and other communications
hereunder shall be in writing and shall be deemed to have been duly given if
delivered personally, mailed by certified mail (return receipt requested) or
sent by overnight carrier or by telecopier (upon confirmation of receipt) to
the parties at the following addresses or at such other address as shall be
specified by the parties by like notice: (i) if to Parent or the Company, to
the appropriate address set forth in Section 8.1 of the Merger Agreement; and
(ii) if to Stockholder, to the appropriate address set forth on Schedule I
hereto.

 

                                                Section
12.  Certain Events.  Stockholder agrees that this Agreement and
the obligations hereunder shall attach to Stockholder’s Subject Shares and
shall be binding upon any Person to which legal or beneficial ownership of
Stockholder’s Subject Shares shall pass, whether by operation of law or
otherwise, including Stockholder’s heirs, guardians, administrators or
successors.

 

                                                Section
13.  Publicity.

 

                                                (a)                                  Stockholder
hereby consents to the publication and disclosure in the Proxy Statement, and
any other documents required to be filed with the SEC in connection with the
Merger, the identity and ownership of the Subject Shares by Stockholder and the
nature of Stockholder’s commitments, agreements and understandings under this
Agreement.

 

                                                (b)                                 Except as
required by law, for so long as this Agreement is in effect, no Stockholder
will, or will authorize any of its affiliates to, issue or cause publication of
any press release or other announcement with respect to the transactions
contemplated by this Agreement without the written consent of Parent, which
consent shall not be unreasonably withheld.

 

                                                Section
14.  Entire
Agreement.  This Agreement
(including the documents and instruments referred to herein) constitutes the
entire agreement and supersedes all other prior agreements and understandings,
both written and oral, among the parties, or any of them, with respect to the
subject matter hereof.

 

 

7

 

                                                Section
15.  Amendment.  This Agreement may not be modified, amended,
altered or supplemented except upon the execution and delivery of a written
agreement executed by the parties hereto.

 

                                                Section
16.  Successors
and Assigns.  This
Agreement shall not be assigned by operation of law or otherwise without the
prior written consent of the other parties hereto, except as expressly provided
by Section 6(a).  This Agreement will be
binding upon, inure to the benefit of and be enforceable by each party and such
party’s heirs, beneficiaries, executors, successors, representatives and
permitted assigns.

 

                                                Section
17.  Counterparts.  This Agreement may be executed in any number
of counterparts and by different parties hereto in separate counterparts, and
delivered by means of facsimile transmission or otherwise, each of which when
so executed and delivered shall be deemed to be an original and all of which
when taken together shall constitute one and the same agreement.

 

                                                Section
18.  GOVERNING
LAW.  THIS AGREEMENT SHALL
BE GOVERNED IN ALL RESPECTS, INCLUDING VALIDITY, INTERPRETATION AND EFFECT, BY
THE LAWS OF THE STATE OF DELAWARE (WITHOUT GIVING EFFECT TO THE PROVISIONS
THEREOF RELATING TO CONFLICTS OF LAW).

 

Section 19. Appointment of Registered
Agent.  To the extent that
a party to this Agreement is not otherwise subject to service of process in the
State of Delaware, such party hereby appoints The Corporation Trust Company,
Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801, as such
party’s agent in the State of Delaware for acceptance of legal process, and
agrees that service made on such agent shall have the same legal effect as if
served upon such party personally within the State of Delaware.

 

                                                Section
20.  Severability.  If any provision of this Agreement shall be
held to be illegal, invalid or unenforceable under any applicable law, then
such contravention or invalidity shall not invalidate the entire Agreement.
Such provision shall be deemed to be modified to the extent necessary to render
it legal, valid and enforceable, and if no such modification shall render it
legal, valid and enforceable, then this Agreement shall be construed as if not
containing the provision held to be invalid, and the rights and obligations of
the parties shall be construed and enforced accordingly.

 

                                                Section
21.  Headings.  The headings contained in this Agreement are
for reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement.

 

 

[SIGNATURE PAGES TO FOLLOW]

 

 

8

 

                                                IN WITNESS
WHEREOF, each of the parties hereto has caused this Agreement to be signed,
individually or by its respective officer thereunto duly authorized, as of the
date first written above.

 

	
   

  	
  ANADARKO PETROLEUM CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Robert K. Reeves

  
	
   

  	
  Name:

  	
  Robert K. Reeves

  
	
   

  	
  Title:

  	
  Senior Vice President, Corporate Affairs &

  
	
   

  	
   

  	
  Law and Chief Governance Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  STOCKHOLDER

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Brion G. Wise

  
	
   

  	
  Name:

  	
  Brion G. Wise

  

 

 

 

SCHEDULE I

 

TO

 

VOTING AGREEMENT

 

 

	
  Name and Address of Stockholder

  	
   

  	
  Number of Shares of Company Common Stock (Unrestricted)

  	
   

  	
  Number of Shares of Company Common Stock (Restricted)(1)

  	
   

  	
  Number of Options to Acquire Company Common Stock

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Brion G. Wise

  	
   

  	
  5,587,360

  	
   

  	
  1,000

  	
   

  	
  20,000

  	
  (2) 

  

(1)                  All shares subject to vesting restrictions

(2)                  Includes options to purchase 8,000 shares of common
stock that remain subject to vesting restrictions

 

If to Stockholder:

 

Brion G. Wise

774 Mays Blvd, #10-323

Incline Village, NV  89451

 

With a copy to:

 

Western Gas Resources, Inc.

1099 18th Street,
Suite 1200

Denver, CO  80202

Attention:  John C. Walter, Esq.

Fax Number:  (303) 457-8482

Phone Number:  (303) 451-5603

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