Document:

exhibit_10-35.htm

    EXHIBIT 10-35

    

    

    RESIGNATION, GENERAL RELEASE AND
SETTLEMENT AGREEMENT

    Supplementing and Amending the
Executive Employment Agreement

    

    This
Resignation, General Release and Settlement Agreement (“Supplement”), is made
and entered into as of the Effective Date (as defined in Section 13 hereof), by
and among Andrew R. Lane (“Employee”) and
Halliburton Energy Services, Inc. (“Employer”), a
subsidiary of Halliburton Company (“Halliburton”), for and
on behalf of itself, its parents, its subsidiaries, and its affiliated companies
(collectively, including Employer, the “Halliburton
Entities”).

    

     WHEREAS, Employee is currently
employed by Employer pursuant to that certain Executive Employment Agreement,
dated as of January 1, 1999 (the “Employment
Agreement”), a copy of which is attached hereto; and

    

    WHEREAS, the parties hereto
contemplate that Employee will voluntarily resign as an officer and director of,
and from all positions, posts, offices and assignments with Employer and any
other Halliburton Entity effective as of December 15, 2007, that Employee’s
employment as a regular employee will terminate on December 31, 2007 (the “Termination Date”),
and Employee will take early retirement, following which termination Employee
will be entitled to receive the benefits provided under (i) Section 3.3 of the
Employment Agreement, subject to Employee’s compliance with the conditions set
forth in Section 3.4 of such Employment Agreement relating to execution of a
release in the form established by Employer and (ii) Section 10 of this
Supplement, subject to Employee’s compliance with the conditions set forth in
Sections 8 and 9 of this Supplement relating to protection of Employer’s
legitimate business interests and goodwill; and

    

    WHEREAS, the Employment
Agreement also provides that the severance benefits provided under Section 3.3
thereof are in consideration of Employee’s continuing obligations under the
Employment Agreement following termination of employment, including obligations
under Article 4 relating to ownership and protection of Halliburton intellectual
property and confidential information; and

    

    WHEREAS, the parties desire to
amend and supplement the Employment Agreement by means of this Supplement to,
among other things, provide for a release of any claims or causes of action
Employee may have arising from or relating to his employment or service with
Employer and set forth the terms of Employee’s continuing obligations relating
to the treatment of confidential information and protection of Employer’s
legitimate business interests and goodwill; and

    

    WHEREAS, the parties wish to
affirm that the terms of the Employment Agreement remain in full force and
effect except as amended and supplemented hereby; and

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    NOW, THEREFORE, in
consideration of the mutual promises, covenants and obligations contained in
this Supplement, the parties agree as follows:

    

                  
1.            Resignation.  Employee
shall continue to be employed by Employer through the Termination Date, at which
time he shall voluntarily resign from employment and simultaneously elect early
retirement. Notwithstanding Employee’s voluntary resignation from employment and
voluntary election to take early retirement, Employee shall be entitled to
receive the severance benefits provided under Section 3.3 of the Employment
Agreement and such other benefits and amounts provided in this
Supplement.  On December 15, 2007, Employee shall voluntarily resign
as an officer and director of, and from all other positions, posts, offices and
assignments with, Employer and any other Halliburton Entity.  Employee
agrees to sign letters of resignation not inconsistent with the terms of this
Supplement, if requested by Employer, effective as of December 15, 2007.
Employee acknowledges that from and after December 15, 2007, he shall continue
as a regular employee but that he shall have no authority to, and shall not act
as an officer, director, employee or in any other capacity for Employer or any
Halliburton Entity.

    

    2.           Obligations of
Employee.

    

    
      	
               

            	
              (a)

            	
              Employee
      agrees that the terms and conditions of this Supplement and the events
      (including negotiations) leading up to its execution shall remain
      confidential as between the parties and he shall not disclose them to any
      other person.  Without limiting the generality of the foregoing,
      Employee will not respond to or in any way participate in or contribute to
      any public discussion, notice or other publicity concerning, or in any way
      relating to, execution of this Supplement or the events (including any
      negotiations) which led to its execution.  Employee further
      agrees that he shall not make, directly or indirectly, whether in writing,
      orally or electronically, any negative, derogatory or other comment that
      could reasonably be expected to be detrimental to the Halliburton
      Entities, their business or operations or any of their current or former
      employees, officers or directors.  The foregoing
      notwithstanding, Employee may disclose the terms of this Supplement to his
      immediate family, attorneys and financial advisors provided he informs
      them of this confidentiality provision and they agree to abide by
      it.

            

    

    

    
      	
               

            	
               (b)

            	
              Employee
      agrees to an orderly transition of duties and will provide appropriate
      details to Employer concerning all of his current business activities and
      duties.  Employee agrees this transition period will end on the
      Termination Date.

            

    

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    
      	
               

            	
              (c)

            	
              Employee
      reaffirms and acknowledges his existing and continuing obligations under
      the Employment Agreement, including, without limitation, the obligations
      set forth in Article 4 thereof relating to ownership and protection of
      intellectual property and confidential information. Except as may be
      required by law, Employee also agrees to maintain in confidence any
      proprietary and confidential information of customers, vendors, or other
      third parties received or of which he has knowledge as a result of his
      employment. The prohibitions of this subsection shall not apply, however,
      to information in the public domain (but only if the same becomes part of
      the public domain through means other than a disclosure prohibited
      hereunder or under the Employment
Agreement).

            

    

    

    
      	
               

            	
              (d)

            	
              Employee
      agrees to leave in his office or deliver to Employer on or before the
      Termination Date all correspondence, memoranda, notes, records, data or
      information, analyses, drawings, photographs or other documents
      (including, without limitation, any computer-generated, computer-stored or
      electronically-stored materials) made, composed or received by Employee,
      solely or jointly with others, and which as of the Termination Date are in
      his possession, custody or control and which are related in any manner to
      the past, present or anticipated business of any of the Halliburton
      Entities (collectively, the “Company
      Information”) without retaining any copies thereof. It is
      the intent of the parties that the foregoing covenant is applicable to all
      Company Information and all copies thereof, whether in writing or in
      electronic format, wherever located, including Company Information located
      on or in Employee’s personally-owned property. Employee hereby grants and
      conveys to Employer all right, title and interest in and to, including,
      without limitation, the right to possess, print, copy and sell or
      otherwise dispose of, all Company Information, and copies, abstracts or
      summaries thereof, which may have been prepared by Employee or under his
      direction or which may have come into his possession in any way during the
      term of his employment with any of the Halliburton Entities and which
      relate in any manner to the past, present or anticipated business of any
      of the Halliburton Entities.

            

    

    

    
      	
               

            	
              (e)

            	
              Employee
      represents and acknowledges that he has no claim or right, title or
      interest in the property or assets of any of the Halliburton Entities. On
      or before the Termination Date, Employee shall deliver any such property
      in his possession or control, including, without limitation, any
      computers, cellular telephones, any wireless devices such as a
      “BlackBerry,” credit cards, telephone cards, office keys and security
      badges furnished by any of the Halliburton Entities for his
      use.

            

    

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    3.           Obligations
of Employer.  In addition to Employer’s obligations under Article 3 of
the Employment Agreement, Employer agrees as follows:

    

    
      	
               

            	
              (a)

            	
              Employee
      shall be entitled to receive his regular salary through the Termination
      Date.

            

    

    

    
      	
               

            	
              (b)

            	
              Effective
      on the later of the Termination Date or the Effective Date, Employee’s
      rights to the stock options granted to him under the 1993 Stock and
      Incentive Plan shall be treated in accordance with the terms of the
      underlying stock option agreements applicable to approved retention of
      stock options upon early retirement, after which Employee may exercise
      such options, if at all, as permitted by such stock option agreements and
      for the length of time permitted
thereby.

            

    

    

    
      	
               

            	
              (c)

            	
              Upon
      approval of the administrative committee appointed to administer the
      Supplemental Executive Retirement Plan and Benefit Restoration Plan,
      Employee will receive the aggregate balance of his accounts under such
      plans, including applicable interest, in a single lump sum payment, as
      soon as administratively feasible after the 2007 allocations to such
      accounts have been determined.  Employee recognizes that a
      portion of such payments may be subject to a six month waiting period
      under such plans in accordance with Internal Revenue Code Section
      409A.

            

    

    

    
      	
               

            	
              (d)

            	
              Employer
      acknowledges that Employee is a participant in certain retirement and
      welfare benefit plans and programs of Employer and Halliburton. Upon
      termination of Employee’s employment, he shall receive the benefits to
      which he is entitled in accordance with such plans’ respective terms;
      provided, however, that, since the severance benefits provided under the
      Employment Agreement and this Supplement are in excess of any severance
      benefits under Employer’s severance benefit plan or program, Employee
      waives any right to severance benefits under such plan or program.

            

    

    

    
      	
               

            	
              (e)

            	
              Employer
      will provide Employee with ten (10) months of outplacement services, or a
      lump sum payment of $15,000 at his
election.

            

    

    

    
      	
               

            	
              (f)

            	
              Applicable
      withholding taxes will be deducted from all payments and other
      compensation due Employee under this Supplement or under the Employment
      Agreement when, as and if paid to
Employee.

            

    

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    4.           Prior Rights and
Obligations. Employee and Employer acknowledge that all rights and
obligations of the parties relating to the employment or termination of
employment of Employee with Employer or any of the Halliburton Entities are
embodied in this Supplement and the Employment Agreement. Except as set forth
herein and therein, the parties shall have no further employment or contractual
relationship; provided, however, that the foregoing provision shall not be
interpreted or construed in such a manner as to limit, extinguish or otherwise
adversely affect Employee’s rights and the obligations of any of the Halliburton
Entities under any employee retirement or welfare benefit plans, except
severance plans, of Employer or the other Halliburton Entities in accordance
with such plans’ respective terms.

    

                  
5.            No
Admissions.  Employee expressly understands and agrees that the
terms of this Supplement and the release contained herein are contractual and
not merely recitals and that the agreements herein and the consideration paid
pursuant to Section 3.3 of the Employment Agreement and Section 3 of this
Supplement is to compromise doubtful and disputed claims, avoid litigation, and
buy peace, having the force of res judicata accorded to
settlements under certain laws applicable to any of the Halliburton Entities,
and that no statement or consideration given shall be construed as an admission
of any claim by any of the Halliburton Entities or their respective employees,
officers, directors, shareholders, trustees, insurers, agents and
representatives (collectively, including Employer, the “Halliburton Parties”),
all such admissions being expressly denied. Moreover, neither the Employment
Agreement, this Supplement nor anything in the Employment Agreement or this
Supplement shall be construed to be or shall be admissible in any proceeding as
evidence of an admission by Employer or Halliburton of any violation of their
policies, procedures, state or federal laws or regulations. The Employment
Agreement and this Supplement may be admitted into evidence, however, in any
proceeding to enforce such agreements. In such event, such admission shall be
pursuant to an order protecting its confidentiality.

    

                   
6.          Employee’s
Representation.  (a)  Employee represents, warrants
and agrees that he has not filed any claims, appeals, complaints, charges or
lawsuits against any of the Halliburton Parties with any governmental agency or
court and that he will not file or permit to be filed or accept any benefit from
any claim, complaint or petition filed with any court by him or on his behalf at
any time hereafter; provided, however, that this shall not limit Employee from
enforcing his rights under the Employment Agreement and this Supplement.
Further, Employee represents and warrants that no other person or entity has any
interest in, or assignment of, any claims or causes of action he may have
against any Halliburton Party and which he now releases in their entirety; (b)
Additionally, Employee specifically acknowledges that he understands that he is
not waiving any right, claim, or legal matter through this Supplement that
cannot be waived, under law, by private agreement.  Employee also
understands that this Supplement is not intended to waive or interfere with his
right to institute a proceeding with any government agency where such waiver
would be contrary to law.  However, in connection with any such
proceeding, Employee waives any right or entitlement to additional compensation
or other individual relief except to the extent, if any, such waiver is
prohibited by law.

    

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    7.           General Release and
Discharge.  Except for those obligations created or
acknowledged by this Supplement and the Employment Agreement, and in
consideration of the payments and other benefits to be made or provided to
Employee under this Supplement and the Employment Agreement, and as a material
inducement to Employer to enter into this Supplement, Employee, on behalf of
himself and his heirs, executors, administrators, assigns, and successors,
hereby agrees to release, acquit and discharge and does hereby release, acquit
and discharge Employer, all Halliburton Entities and all Halliburton Parties
(both in their official and individual capacities), collectively and
individually, with respect to and from any and all claims and any and all causes
of action, of any kind or character, whether now known or unknown, he may have
against any of them which exist as of the Termination Date, including, but not
limited to, any claim for benefits, compensation, stock, stock options, costs,
damages, expenses, remuneration, salary or wages; and all claims or causes of
action arising from his employment, termination of employment, or any alleged
discriminatory employment practices, including but not limited to, any and all
claims and causes of action arising under the Age Discrimination in Employment
Act, as amended, 29 U.S.C. § 621, et seq. (“ADEA”) and any and all
claims and causes of action arising under any other federal, state or local laws
pertaining to discrimination in employment or equal employment opportunity;
except that the parties agree that Employee’s release, acquittal and discharge
shall not relieve Employer from its obligations under the Employment Agreement
and this Supplement. This release also applies to any claims brought by any
person or agency or class action under which Employee may have a right or
benefit.

    

    8.           Proprietary and Confidential
Information/Non-Disclosure. In accordance with
Employee's existing and continuing obligations, Employee agrees and acknowledges
that the various Halliburton Entities have developed and own valuable
information which is confidential, unique, with material pecuniary value on the
open market, and specific to the Halliburton Entities ("Proprietary and Confidential
Information") and which includes, without limitation, trade
secrets; financial information, projections and forecasts; marketing plans and
strategies; business and implementation plans; engineering plans; prospect
lists; technical information concerning products, equipment, services and
processes; procurement procedures and pricing techniques; names and other
information (such as credit and financial data) concerning customers and
business affiliates; and all other concepts, ideas, plans, strategies, analyses,
surveys, and proprietary information related to the past, present or anticipated
business of various of the Halliburton Entities. Except as may be required by
law, Employee agrees that he will not at any time disclose to others, permit to
be disclosed, use, permit to be used, copy or permit to be copied, any such
Proprietary and Confidential Information (whether or not developed by Employee
and whether or not received as an employee) without prior written consent of the
Chief Executive Officer of Halliburton. Except as may be required by law,
Employee further agrees to maintain in confidence any proprietary and
confidential information of third parties received or of which he has knowledge
as a result of his employment. Employee further acknowledges and agrees that if
he is required by law, pursuant to a validly issued subpoena or other
governmental or legal process to disclose any Proprietary and Confidential
Information, Employee will immediately advise the Halliburton Entities that
a

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    subpoena
or other governmental order has been served, so that the Halliburton Entities
may have an opportunity to object or move to quash the subpoena or governmental
order in question.  The prohibitions of this Section 8 shall not
apply, however, to information in the public domain (but only if the same
becomes part of the public domain through a means other than a disclosure
prohibited hereunder).

    

    9.           Restrictive
Covenants:  Protection of Employer’s Interests and
Goodwill.

    

    
      	
              (a)  

            	
              Whereas,
      Halliburton is one of the world’s largest oilfield services companies,
      providing a comprehensive range of services and products for the
      exploration, development, and production of oil and gas, to major
      national, international, and independent oil and gas companies throughout
      the world; and

            

    

    

    
      	
              (b)  

            	
              Whereas,
      Employee acknowledges that in his role as Chief Operating Officer of
      Halliburton, he obtained, possessed and otherwise had substantial access
      to significant portions of Halliburton’s Proprietary and Confidential
      Information as defined herein, including strategies and business plans;
      supervised and managed key employees, and was responsible for key customer
      and supplier relationships on a worldwide basis;
  and

            

    

    

    
      	
              (c)  

            	
              Whereas,
      Employee and Employer agree and acknowledge that the Halliburton Entities
      have developed and own and will develop and own valuable Proprietary and
      Confidential Information and that the Halliburton Entities have goodwill
      and will continue to enjoy substantial goodwill unless disturbed by
      Employee. Employee and Employer further agree and acknowledge that the
      Halliburton Entities, and Employer on their behalf, have a substantial and
      legitimate business interest in protecting their Proprietary and
      Confidential Information and
goodwill.

            

    

    

    
      	
              (d)  

            	
              Non-Competition
      Period:  For a 3-year period beginning on the first
      business day following the later of  the Termination Date or the
      Effective Date of this Supplement (the “Non-Competition
      Period”), Employee agrees to the following
      covenants:

            

    

    

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    (i)           Non-Competition:
Employee will not directly or indirectly, for his own purposes or for the
purposes of others, participate in the ownership, management, operation or
control of, or be or become a stockholder, officer, employee, partner, director,
or agent of, or a consultant to, or render advice or services to, or otherwise
assist, any person, business or legal entity, their respective affiliates
(including affiliates formed or acquired after the date hereof) or successors
(collectively, the “Competitive
Businesses”) in competing with any of the Halliburton Entities or
any of the activities relating to, arising under, or included within the
business activities of the Halliburton Entities, including those described in
Section 9(a) above, anywhere in the world.

    

    (ii)           Non-Solicitation:
Employee will not directly or indirectly, for his own purposes or for the
purposes of others, either as principal, agent, independent contractor,
consultant, director, officer, employee, employer, advisor, stockholder,
partner, or in any other individual or representative capacity whatsoever,
either for his own benefit or for the benefit of any other person or entity: (A)
hire or attempt to hire, contact or solicit with respect to hiring, any person
who is or who has been within the preceding nine-month period or during the
Non-Competition Period, an employee of, full-time consultant to, or contract
employee of any of the Halliburton Entities; or (B) induce or otherwise counsel,
advise or encourage any employee or full-time consultant to leave any of the
Halliburton Entities; or (C) attempt to divert or take away, or induce another
person to attempt to divert or take away, any customer, consultant, franchisee
or vendor of any of the Halliburton Entities with whom Employee dealt, directly
or indirectly, during his employment with Employer or any of the other
Halliburton Entities.

    
                                               
(iii)        Geographic Scope of
Restriction:  The obligations of this Section 9 shall apply to
any geographic area in

                                                   which
any of the Halliburton Entities:

     

    
      	
              a.  

            	
              Has
      engaged in business by providing services and/or products for the
      exploration, development, and production of oil and gas, to major
      national, international, and independent oil and gas companies, including
      both United States and international locations;
  or

            

    

    
      	
              b.  

            	
              Has
      otherwise established its goodwill, business reputation or any customer or
      supplier relations.

            

    

    

    The above
notwithstanding, nothing in this Section 9 shall prohibit Employee and his
affiliates from owning, as passive investors, in the aggregate not more than
five percent of equity securities of any publicly held Competitive
Business.

    

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    
      	
               

            	
              (e)

            	
              Employee
      represents and warrants that the time, scope and geographic area
      restricted by the provisions of this Section are reasonable, that the
      enforcement of the restrictions contained herein will not be unduly
      burdensome on Employee, and that Employee will be able to earn a
      reasonable living while abiding by the terms imposed herein. Employee
      agrees that the restraints created by the covenants of this Section 9 are
      no greater than necessary to protect the legitimate interests of the
      Halliburton Entities, including their Proprietary and Confidential
      Information and goodwill. In addition, Employee agrees that the need of
      the Halliburton Entities for the protection afforded by such covenants is
      not outweighed by the hardship to Employee, nor is any injury to the
      public likely to result from such restraints. Employee irrevocably waives
      all defenses to the strict enforcement of the covenants contained in this
      Section 9 and agrees that his breach or violation of the covenants
      contained in Sections 8 and/or 9, or any threatened breach or violation
      thereof, shall entitle Employer, on its own behalf or on behalf of any of
      the Halliburton Entities, as a matter of right, to specific performance
      and injunctive relief issued by any court of competent jurisdiction,
      without the requirement to post a bond, restraining any further or
      continued breach or violation of any such covenants. Such remedies shall
      not be deemed the exclusive remedies for breach of Sections 8 and/or 9,
      but shall be in addition to all remedies available at law or in equity to
      Employer, including, without limitation, recovery of damages from Employee
      and his agents involved in such breach. In addition, Employee agrees that
      any breach by him of  any of the covenants contained in Sections
      8 and 9 will entitle Employer, for and on behalf of the other Halliburton
      Entities, to recover the payments or other consideration paid to Employee
      under Section 10 hereof. Further, Employee agrees that the Halliburton
      Entities are entitled to insist on full compliance by Employee with the
      full terms, including time periods, set forth in this Section
      9.

            

    

    

    
      	
               

            	
              (f)

            	
              It
      is expressly understood and agreed that Employer and Employee consider the
      restrictions contained in this Section 9 to be reasonable and necessary to
      protect the Proprietary and Confidential Information and/or goodwill and
      that Employee’s obligations to keep such information confidential shall
      survive termination of the Non-Competition Period. Nevertheless, if any of
      the aforesaid restrictions are found by a court having jurisdiction to be
      unreasonable, or overly broad as to geographic area or time, or otherwise
      unenforceable, the parties intend for the restrictions therein set forth
      to be modified by such courts so as to be reasonable and enforceable and,
      as so modified by the court, to be fully enforced, it being expressly
      understood and agreed by Employee that the provisions of this Section are
      reasonably necessary to protect the Halliburton Entities’ legitimate
      business interests and are designed particularly to protect their
      Proprietary and Confidential Information and
  goodwill.

            

    

    

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    10.           Non-Competition and
Non-Solicitation Consideration.

    

    
      	
               

            	
              (a)

            	
              In
      consideration of Employee's covenants and promises as set forth in
      Sections 8 and 9 hereof, but expressly subject to the provisions of
      Section 9(e), Employer will make a cash payment to Employee (i) in the
      gross amount of $1,050,000 to be paid in a single lump sum as soon as
      administratively practicable following the end of the Non-Competition
      Period; and (ii) for the prorated amount earned, if any, under the
      Performance Unit Program for the 2006 and 2007 performance cycles, which
      if due will be paid on the date payments are made to other participants
      under the Program, in accordance with the terms of such
      Program.  Employee shall not participate in the Performance Unit
      Program for any performance cycles other than the 2006 and 2007
      cycles.

            

    

    
      	
               

            	
               

            

    

    
      	
               

            	
              (b)

            	
              Payment
      of the amounts set forth in Section 10(a) will be made only if Employee’s
      obligations set forth in Sections 8 and 9 are fully satisfied at all times
      during the Non-Competition Period and at the time such amounts are
      payable. Employee understands and agrees that his right to all or any
      portion of the payment provided for herein, and Company's obligation
      to make payment of the entire amount or any portion thereof, are dependent
      and conditioned on Employee's compliance in full with all provisions
      contained in Sections 8 and 9.  Any failure on the part of Employee
      to comply with each such provision, including any attempt by or on behalf
      of Employee to have any such provision declared unenforceable in whole or
      in part by an arbitrator or court, shall excuse Employer forever from
      the obligation to make the payments, in whole or in part, provided for in
      Section 10(a).

            

    

    

    11.           ADEA
Rights.  Employee expressly acknowledges and agrees that by
entering into this Supplement, he is waiving any and all rights or claims that
he may have arising under ADEA.  Employee further expressly
acknowledges and agrees that:

    

    
      	
               

            	
              (a)

            	
              In
      return for the release contained in this Supplement, he will receive
      consideration beyond that which he would have been entitled to receive but
      for the Employment Agreement and this
  Supplement;

            

    

    

    
      	
               

            	
              (b)

            	
              He
      was given a copy of this Supplement on December 12, 2007, and he has
      twenty-one (21) days from such date to review it before accepting, and
      that subsequent changes to this Supplement, whether material or
      immaterial, shall not restart such 21-day review
  period;

            

    

    

    
      	
               

            	
              (c)

            	
              He
      has been advised in writing by Employer to consult with an attorney before
      signing this Supplement; and

            

    

    

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    
      	
               

            	
              (d)

            	
              If
      he accepts this Supplement, he will have seven (7) days following the date
      of execution of this Supplement to revoke this
  Supplement.

            

    

    

                 
12.            
Agreement
Voluntary. Employee acknowledges and agrees that he has carefully read
this Supplement and understands that, except as expressly reserved herein, it is
a release of all claims, known and unknown, past or present, including all
claims under the ADEA. He further agrees that he has entered into this
Supplement for the above stated consideration. He warrants that he is fully
competent to execute this Supplement which he understands to be contractual. He
further acknowledges that he executes this Supplement of his own free will,
after having a reasonable period of time to review, study and deliberate
regarding its meaning and effect, and after being advised to consult with an
attorney, and without reliance on any representation of any kind or character
not expressly set forth herein. Finally, he executes this Supplement fully
knowing its effect and voluntarily for the consideration stated
above.

    

    13.           Effective Date. The
Effective Date shall be eight (8) days after the execution of this Supplement by
Employee and Employer, provided Employee has not exercised his right of
revocation pursuant to Section 11(d) above. This Supplement will become binding
in its entirety upon Employee and Employer, and all of its provisions will be
irrevocable on the Effective Date.

    

                  
14.            Payment of
Taxes.  Employee agrees that he shall be exclusively liable for
the payment of all employee federal and state taxes which may be due as a result
of the consideration received herein and Employee represents that he shall make
payments of such taxes at the time and in the amount required.

    

    15.           Dispute
Resolution.  Each of the parties affirm that Section 5.6 of the
Employment Agreement pertaining to resolution of disputes likewise controls with
respect to the resolution of disputes hereunder; provided, however, that
Employer, for and on behalf of itself and the other Halliburton Entities, shall
be entitled to seek a restraining order or injunction in any court of competent
jurisdiction to prevent any breach or a continuation of any breach of the
provisions of Sections 8 and/or 9 and Employee hereby consents that such
restraining order or injunction may be granted without the necessity of Employer
posting any bond.

    

    16.           Further
Executions.  The parties agree to cooperate fully and to
execute any and all supplementary documents and to take all additional actions
that may be necessary or appropriate to give full force to the basic terms and
intent of this Supplement and which are not inconsistent with its terms or the
terms of the Employment Agreement.

    

    17.           Entire
Agreement.  This Supplement amends and supplements the
Employment Agreement to the extent set forth herein. The parties hereto
expressly affirm that, except as amended and supplemented hereby, the provisions
of the Employment Agreement remain in full force and effect. This Supplement and
the Employment Agreement constitute the entire agreement and understanding of
the parties with regard to the terms of Employee’s employment,
termination

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    of
employment and severance benefits and contain all of the covenants, promises,
representations, warranties and agreements between the parties with respect to
such matters. Each party to this Supplement acknowledges that no representation,
inducement, promise, or agreement, oral or written, has been made by either
party with respect to the foregoing matters which is not embodied in the
aforementioned agreements, and that no agreement, statement, or promise relating
to the employment or termination of employment of Employee that is not contained
in such agreements shall be valid and binding. No amendment to or modification
of this Supplement shall be effective unless reduced to writing and signed by
the parties.

    

    18.           Notice. For purposes
of this Supplement and the Employment Agreement, notices and all other
communications provided for herein shall be in writing and shall be deemed to
have been duly given when received by or tendered to Employee or Employer, as
applicable, by pre-paid courier or by United States registered or certified
mail, return receipt requested, postage pre-paid, addressed as
follows:

    

    If to
Employer, to Halliburton Company at Five Houston Center, 1401 McKinney, Suite
2400, Houston, Texas 77010, to the attention of the General Counsel of
Halliburton Company; or to such other address of which Employee has been duly
notified.

    

    If to Employee, to his last known
personal address.

    

    19.           Section 409A of the
Code.  Notwithstanding any provision of this Supplement to the
contrary, the following provisions shall apply for purposes of complying with
Section 409A of the Internal Revenue Code and applicable Treasury authorities
(“Section
409A”):

    

    
      	
               

            	
              (a)

            	
              If
      Employee is a “specified
      employee,” as such term is defined in Section 409A and
      determined as described below in this Section 19, any payments or benefits
      payable or provided as a result of Employee’s termination of employment
      shall not be payable before the earlier of (i) the date that is six months
      after Employee’s termination, (ii) the date of Employee’s death, or (iii)
      the date that otherwise complies with the requirements of Section
      409A.

            

    

    

    
      	
               

            	
              (b)

            	
              If
      any provision of this Supplement would result in the imposition of an
      applicable tax under Section 409A, Employee and Employer agree that such
      provision will be reformed to avoid imposition of the applicable tax in a
      manner that will result in the least adverse economic impact on
      Employee.

            

    

    

    [Signature
Page Follows Immediately Hereafter]

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

    

    IN WITNESS WHEREOF, Employer
and Employee have duly executed this Supplement in multiple originals to be
effective on the Effective Date.

    

    

    HALLIBURTON ENERGY SERVICES,
INC.

    

    

    By: /s/ Lawrence J.
Pope                                                      /s/ Andrew R.
Lane                                           

    

    Lawrence
J.
Pope                                                                                                                                 
Andrew R. Lane

    

    Vice
President of Human Resources and
Administration                                                              Date:  December
12, 2007

    

    Date:
December 12, 2007

    

    
      
        
        

      

      
        13exhibit_10-36.htm

    EXHIBIT
10-36

    

    

    EXECUTIVE
EMPLOYMENT AGREEMENT

    

    This Executive Employment Agreement
("Agreement") is entered into by and between Halliburton Energy Services,
Inc. ("Employer") and James Scott Brown
("Employee"), as of May 1, 2004 (the "Effective Date").

    

    W
I T N E S S E T H:

    

    WHEREAS, Employee is currently
employed by Employer; and

    

    WHEREAS, Employer is desirous
of continuing the employment of Employee after the Effective Date pursuant to
the terms and conditions and for the consideration set forth in this Agreement,
and Employee is desirous of continuing in the employ of Employer pursuant to
such terms and conditions and for such consideration.

    

    NOW, THEREFORE, for and in
consideration of the mutual promises, covenants, and obligations contained
herein, Employer and Employee agree as follows:

    

    ARTICLE
1: EMPLOYMENT AND DUTIES:

    

    1.1.           Employer
agrees to employ Employee, and Employee agrees to be employed by Employer,
beginning as of the Effective Date and continuing until the date of termination
of Employee's employment pursuant to the provisions of Article 3 (the "Term"),
subject to the terms and conditions of this Agreement.

    

    1.2.           Beginning
as of the Effective Date, Employee shall be employed as Vice President—United States Region,
Energy Services Group of Employer. Employee agrees to serve in the
assigned position or in such other executive capacities as may be requested from
time to time by Employer and to perform diligently and to the best of Employee's
abilities the duties and services appertaining to such positions as reasonably
determined by Employer, as well as such additional or different duties and
services appropriate to such positions which Employee from time to time may be
reasonably directed to perform by Employer.

    

    1.3.           Employee
shall at all times comply with and be subject to such policies and procedures as
Halliburton Company (“Halliburton”) or Employer may establish from time to time,
including, without limitation, the Halliburton Company Code of Business Conduct
(the "Code of Business Conduct").

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    1.4.           Employee
shall, during the period of Employee's employment by Employer, devote Employee's
full business time, energy, and best efforts to the business and affairs of
Employer. Employee may not engage, directly or indirectly, in any other
business, investment, or activity that interferes with Employee's performance of
Employee's duties hereunder, is contrary to the interest of Halliburton or any
of its affiliated subsidiaries and divisions, including Employer (collectively,
the “Halliburton Entities” or, individually, a “Halliburton Entity”), or
requires any significant portion of Employee's business time.  The
foregoing notwithstanding, the parties recognize and agree that Employee may
engage in passive personal investments and other business activities which do
not conflict with the business and affairs of the Halliburton Entities or
interfere with Employee's performance of his duties hereunder. Employee may not
serve on the board of directors of any entity other than a Halliburton Entity
during the Term without the approval thereof in accordance with Halliburton’s
policies and procedures regarding such service. Employee may retain compensation
received for approved service on any unaffiliated corporation’s board of
directors to the extent permitted under applicable Halliburton policies and
procedures.

    

    1.5.           Employee
acknowledges and agrees that Employee owes a fiduciary duty of loyalty, fidelity
and allegiance to act at all times in the best interests of the Employer and the
other Halliburton Entities and to do no act which would, directly or indirectly,
injure any such entity's business, interests, or reputation. It is agreed that
any direct or indirect interest in, connection with, or benefit from any outside
activities, particularly commercial activities, which interest might in any way
adversely affect Employer, or any Halliburton Entity, involves a possible
conflict of interest. In keeping with Employee's fiduciary duties to Employer,
Employee agrees that Employee shall not knowingly become involved in a conflict
of interest with Employer or the Halliburton Entities, or upon discovery
thereof, allow such a conflict to continue. Moreover, Employee shall not engage
in any activity which might involve a possible conflict of interest without
first obtaining approval in accordance with Halliburton's policies and
procedures.

    

    1.6           Nothing
contained herein shall be construed to preclude the transfer of Employee's
employment to another Halliburton Entity ("Subsequent Employer") as of, or at
any time after, the Effective Date and no such transfer shall be deemed to be a
termination of employment for purposes of Article 3 hereof; provided, however,
that, effective with such transfer, all of Employer's obligations hereunder
shall be assumed by and be binding upon, and all of Employer's rights hereunder
shall be assigned to, such Subsequent Employer and the defined term "Employer"
as used herein shall thereafter be deemed amended to mean such Subsequent
Employer. Except as otherwise provided above, all of the terms and conditions of
this Agreement, including without limitation, Employee's rights and obligations,
shall remain in full force and effect following such transfer of
employment.

    

    ARTICLE
2: COMPENSATION AND BENEFITS:

    

    2.1.           Employee's
base salary during the Term shall be not less than $234,600 per annum which
shall be paid in accordance with the Employer's standard payroll practice for
its executives. Employee's base salary may be increased from time to time in
accordance with Employer’s salary policy. Such increased base salary shall
become the minimum base salary under this Agreement and may not be decreased
thereafter without the written consent of Employee.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    2.2.           During
the Term, Employee shall participate in the Halliburton Annual Performance Pay
Plan, or any successor annual incentive plan approved by the Compensation
Committee of Halliburton’s Board of Directors (the “Compensation Committee”);
provided, however, that all determinations relating to Employee's participation,
including, without limitation, those relating to the performance goals
applicable to Employee and Employee's level of participation and payout
opportunity, shall be made in the sole discretion of the person or committee to
whom such authority has been granted pursuant to such plan's terms.

    

    2.3.           Each
year during the Term beginning with the 2004 performance cycle, Employee shall
be nominated  to participate in the Halliburton Performance Unit
Program, or any similar successor long-term incentive program approved by the
Compensation Committee; provided, however, that all determinations relating to
Employee’s participation, including, without limitation, those relating to the
performance goals applicable to Employee and Employee’s level of participation
and incentive opportunity shall be made in accordance with applicable guidelines
in place at the time of nomination, and Employee’s participation shall further
be subject to such other terms and conditions as set forth in the Performance
Unit Program Terms and Conditions and other underlying
documentation.

    

    2.4.           During
the Term, Employer shall pay or reimburse Employee for all actual, reasonable
and customary expenses incurred by Employee in the course of his employment;
including, but not limited to, travel, entertainment, subscriptions and dues
associated with Employee's membership in professional, business and civic
organizations; provided that such expenses are incurred and accounted for in
accordance with Employer's applicable policies and procedures.

    

    2.5.           While
employed by Employer, Employee shall be allowed to participate, on the same
basis generally as other executive employees of Employer, in all general
employee benefit plans and programs, including improvements or modifications of
the same, which on the Effective Date or thereafter are made available by
Employer or Halliburton to all or substantially all of Employer's similarly
situated executive employees. Such benefits, plans, and programs may include,
without limitation, medical, health, and dental care, life insurance, disability
protection, and qualified and non-qualified retirement plans. Except as
specifically provided herein, nothing in this Agreement is to be construed or
interpreted to increase or alter in any way the rights, participation, coverage,
or benefits under such benefit plans or programs than provided to similarly
situated executive employees pursuant to the terms and conditions of such
benefit plans and programs.  While employed by Employer, Employee
shall be eligible to receive awards under the Halliburton Company 1993 Stock and
Incentive Plan (the "1993 Plan") or any successor stock-related plan adopted by
Halliburton's Board of Directors; provided, however, that the foregoing shall
not be construed as a guarantee with respect to the type, amount or frequency of
such awards, if any, such decisions being solely within the discretion of the
Compensation Committee or its delegate, as applicable.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    2.6.           The
foregoing notwithstanding, neither Halliburton nor Employer shall by reason of
this Article 2 be obligated to institute, maintain, or refrain from changing,
amending or discontinuing, any incentive compensation, employee benefit or stock
or stock option program or plan, so long as such actions are similarly
applicable to covered employees generally.

    

    2.7.           Employer
may withhold from any compensation, benefits, or amounts payable under this
Agreement all federal, state, city, or other taxes as may be required pursuant
to any law or governmental regulation or ruling.

    

      ARTICLE
3:  TERMINATION OF EMPLOYMENT AND EFFECTS OF SUCH TERMINATION:

    

    
    

    

    3.1.           Employee's
employment with Employer shall be terminated (i) upon the death of Employee,
(ii) upon Employee's Retirement (as defined below), (iii) upon Employee's
Permanent Disability (as defined below), or (iv) at any time by Employer upon
notice to Employee, or by Employee upon thirty (30) days' notice to Employer,
for any or no reason.

    

    3.2.           If
Employee's employment is terminated by reason of any of the following
circumstances, Employee shall not be entitled to receive the benefits set forth
in Section 3.3 hereof:

    

    (i)            
Death.

    

    
      	
               
      

            	
              (ii)

            	
              Retirement.  "Retirement"
      shall mean either (a) Employee's retirement at or after normal retirement
      age (either voluntarily or pursuant to Halliburton's retirement policy) or
      (b) the voluntary termination of Employee's employment by Employee in
      accordance with Employer's early retirement policy for other than Good
      Reason (as defined below).

            

    

    

    
      	
               
      

            	
              (iii)

            	
              Permanent
      Disability.  "Permanent Disability" shall mean Employee's
      physical or mental incapacity to perform his usual duties with such
      condition likely to remain continuously and permanently as determined by a
      qualified physician selected by
Employer.

            

    

    

    
      	
               
      

            	
              (iv)

            	
              Voluntary
      Termination.  "Voluntary Termination" shall mean a
      termination of employment in the sole discretion and at the election of
      Employee for other than Good Reason.  "Good Reason" shall mean
      (a) a termination of employment by Employee because of a material breach
      by Employer of any material provision of this Agreement which remains
      uncorrected for thirty (30) days following notice of such breach by
      Employee to Employer as provided in Section 5.2 hereof, provided such
      termination occurs within sixty (60) days after the expiration of the
      notice period or (b) a termination of employment by Employee within six
      (6) months after a material reduction in Employee's rank or responsibility
      with Employer.

            

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (v)

            	
              Termination for
      Cause. Termination of Employee's employment by Employer for Cause.
      "Cause" shall mean any of the following: (a) Employee's gross negligence
      or willful misconduct in the performance of the duties and services
      required of Employee pursuant to this Agreement, (b) Employee's final
      conviction of a felony, (c) a material violation of the Code of Business
      Conduct or (d) Employee's material breach of any material provision of
      this Agreement which remains uncorrected for thirty (30) days following
      notice of such breach to Employee by Employer as provided in Section 5.2
      hereof. Determination as to whether or not Cause exists for termination of
      Employee's employment will be reasonably made by the Compensation
      Committee, or its delegate, in good
      faith.

            

    

    

    In the event Employee's employment is
terminated under any of the foregoing circumstances, all future compensation to
which Employee is otherwise entitled and all future benefits for which Employee
is eligible shall cease and terminate as of the date of termination, except as
specifically provided in this Section 3.2. Employee, or his estate in the case
of Employee's death, shall be entitled to pro rata base salary through the date
of such termination and shall be entitled to any individual annual incentive
compensation not yet paid but earned and payable under Employer's or
Halliburton's annual incentive plans for the year prior to the year of
Employee's termination of employment, but shall not be entitled to any annual
incentive compensation for the year in which he terminates employment or any
other payments or benefits by or on behalf of Employer except for those which
may be payable pursuant to the terms of Employer's or Halliburton’s employee
benefit plans (as defined in Section 3.4), stock, stock option or incentive
plans, or the applicable agreements underlying such plans.

    

    3.3           If
Employee's employment is terminated by Employee for Good Reason or by Employer
for any reason other than as set forth in Section 3.2 above, Employee shall be
entitled to each of the following, subject to the provisions of Section
3.4:

    

    
      	
               
      

            	
              (i)

            	
              To
      the extent not otherwise specifically provided in any underlying
      restricted stock agreements, Halliburton, at its option and in its sole
      discretion, shall either (a) cause all shares of Halliburton common stock
      previously granted to Employee under the 1993 Plan, and any similar plan
      adopted by Halliburton in the future, which at the date of termination of
      employment are subject to restrictions (the "Restricted Shares") to be
      forfeited, in which case, Employer will pay Employee a lump sum cash
      payment equal to the value of the Restricted Shares (based on the closing
      price of Halliburton common stock on the New York Stock Exchange on the
      date of termination of employment); or (b) cause the forfeiture
      restrictions with respect to the Restricted Shares to lapse and such
      shares shall be retained by
Employee.

            

    

    

    
      	
               
      

            	
               (ii)

            	
              Employer
      shall pay to Employee a severance benefit consisting of a single lump sum
      cash payment equal to two years' of Employee's base salary as in effect at
      the date of Employee's termination of employment.  Such
      severance benefit shall be paid no later than sixty (60) days following
      Employee's termination of
employment.

            

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (iii)

            	
              Employee
      shall be entitled to any individual incentive compensation earned under
      the Halliburton Annual Performance Pay Plan, or any successor annual
      incentive plan approved by the Compensation Committee, for the year of
      Employee's termination of employment determined as if Employee had
      remained employed by the Employer for the entire year.  Such
      amounts shall be paid to Employee at the time that such amounts are paid
      to similarly situated employees.

            

    

    

    3.4.           The
severance benefits paid to Employee pursuant to Section 3.3 shall be in
consideration of Employee's continuing obligations hereunder after such
termination, including, without limitation, Employee's obligations under Article
4. Further, as a condition to the receipt of such severance benefits, Employer
shall require Employee to first execute a release, in the form established by
Employer, releasing Employer and all other Halliburton Entities, and their
officers, directors, employees, and agents, from any and all claims and from any
and all causes of action of any kind or character, including, but not limited
to, all claims and causes of action arising out of Employee's employment with
Employer and any other Halliburton Entities or the termination of such
employment. The performance of Employer's obligations under Section 3.3 and the
receipt of the severance benefits provided thereunder by Employee shall
constitute full settlement of all such claims and causes of
action.  Employee shall not be under any duty or obligation to seek or
accept other employment following a termination of employment pursuant to which
severance benefits under Section 3.3 are owing and the amounts due Employee
pursuant to Section 3.3 shall not be reduced or suspended if Employee accepts
subsequent employment or earns any amounts as a self-employed individual.
Employee's rights under Section 3.3 are Employee's sole and exclusive rights
against the Employer or its affiliates and the Employer's sole and exclusive
liability to Employee under this Agreement, in contract, tort or otherwise, for
the termination of his employment relationship with Employer. Employee agrees
that all disputes relating to Employee’s termination of employment, including,
without limitation, any dispute as to “Cause” or “Voluntary Termination” and any
claims or demands against Employer or Halliburton based upon Employee’s
employment for any monies other than those specified in Section 3.3, shall be
resolved through the Halliburton Dispute Resolution Plan as provided in Section
5.6 hereof; provided, however, that decisions as to whether "Cause" exists for
termination of the employment relationship with Employee and whether and as of
what date Employee has become permanently disabled are delegated to the
Compensation Committee, or its delegate, for determination and any dispute of
Employee with any such decision shall be limited to whether the Compensation
Committee, or its delegate,  reached such decision in good
faith.  Nothing contained in this Article 3 shall be construed to be a
waiver by Employee of any benefits accrued for or due Employee under any
employee benefit plan (as such term is defined in the Employees' Retirement
Income Security Act of 1974, as amended) maintained by Employer or Halliburton
except that Employee shall not be entitled to any severance benefits pursuant to
any severance plan or program of the Employer or Halliburton.

    

    3.5.           Termination
of the employment relationship does not terminate those obligations imposed by
this Agreement which are continuing obligations, including, without limitation,
Employee's obligations under Article 4.

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    
      ARTICLE
4:  OWNERSHIP AND PROTECTION OF INTELLECTUAL PROPERTY AND
CONFIDENTIAL INFORMATION:

    

    
    

    
    

    

    4.1.           All
information, ideas, concepts, improvements, discoveries, and inventions, whether
patentable or not, which are conceived, made, developed or acquired by Employee,
individually or in conjunction with others, during Employee's employment by
Employer or any of its affiliates (whether during business hours or otherwise
and whether on Employer's premises or otherwise) which relate to the business,
products or services of Employer or its affiliates (including, without
limitation, all such information relating to corporate opportunities, research,
financial and sales data, pricing and trading terms, evaluations, opinions,
interpretations, acquisition prospects, the identity of customers or their
requirements, the identity of key contacts within the customer's organizations
or within the organization of acquisition prospects, or marketing and
merchandising techniques, prospective names, and marks), and all correspondence,
memoranda, notes, records, data or information, analyses, or other documents
(including, without limitation, any computer-generated, computer-stored or
electronically-stored materials) of any type embodying any of such items, shall
be the sole and exclusive property of Employer or its affiliates, as the case
may be.

    

    4.2.           Employee
acknowledges that the businesses of the various Halliburton Entities are highly
competitive and that they have developed and own valuable information which is
confidential, unique and specific to the Halliburton Entities (“Proprietary and
Confidential Information”) and which includes, without limitation, financial
information; marketing plans; business and implementation plans; engineering
plans; prospect lists; technical information concerning products, equipment,
services and processes; procurement procedures and pricing techniques; names and
other information (such as credit and financial data) concerning customers and
business affiliates; and other trade secrets, concepts, ideas, plans,
strategies, analyses, surveys and proprietary information related to the past,
present or anticipated business of various of the Halliburton
Entities.  Employee further acknowledges that protection of such
Proprietary and Confidential Information against unauthorized disclosure and use
is of critical importance to Employer and the other Halliburton Entities in
maintaining their competitive position. Employee hereby agrees that Employee
will not, at any time during or after his employment by Employer, disclose to
others, permit to be disclosed, use, permit to be used, copy or permit to be
copied, any such Proprietary and Confidential Information (whether or not
developed by Employee and whether or not received as an employee) without the
prior written consent of the Chief Executive Officer of Employer. Employee
further agrees to maintain in confidence any proprietary and confidential
information of third parties received or of which he has knowledge as a result
of his employment. The prohibitions of this Section 4.2 shall not apply,
however, to information in the public domain (but only if the same becomes part
of the public domain through means other than a disclosure prohibited
hereunder).  The above notwithstanding, a disclosure shall not be
unauthorized if (i) it is required by law or by a court of competent
jurisdiction or (ii) it is in connection with any judicial, arbitration, dispute
resolution or other legal proceeding in which Employee's legal rights and
obligations as an employee or under this Agreement are at issue; provided,
however, that Employee shall, to the extent practicable and lawful in any such
events, give prior notice to Employer of his intent to disclose any such
Proprietary and Confidential Information in such context so as to allow Employer
or its affiliates an opportunity (which Employee will not oppose) to obtain such
protective orders or similar relief with respect thereto as may be deemed
appropriate.

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    4.3.           All
written materials, records, data and information, analyses, and other documents
(including, without limitation, any computer-generated, computer-stored or
electronically-stored data and other materials), and all copies thereof, made,
composed or received by Employee, solely or jointly with others, and which are
in Employee’s possession, custody or control and which are related in any manner
to the past, present or anticipated business of any of the Halliburton Entities
(collectively, the “Company Documents”) shall be and remain the property of
Employer, or its affiliates, as the case may be. Upon termination of Employee's
employment with Employer, for any reason, Employee promptly shall deliver the
Company Documents, and all copies thereof, to Employer.

    

    4.4           For
purposes of this Article 4, "affiliates" shall mean Halliburton and entities in
which Employer or Halliburton has a 20% or more direct or indirect equity
interest.

    

    ARTICLE
5: MISCELLANEOUS:

    

    5.1.           Except
as otherwise provided in Section 4.4 hereof, for purposes of this Agreement, the
terms "affiliate" or "affiliated" means Halliburton and any other entity who
directly, or indirectly through one or more intermediaries, controls, is
controlled by, or is under common control with Halliburton or in which
Halliburton has a 50% or more equity interest.

    

    5.2.           For
purposes of this Agreement, notices and all other communications provided for
herein shall be in writing and shall be deemed to have been duly given when
received by or tendered to Employee, Halliburton or Employer, as applicable, by
pre-paid courier or by United States registered or certified mail, return
receipt requested, postage prepaid, addressed as follows:

     

    
      
        	
                 
      

              	
                If
      to Employer or Halliburton, to Halliburton Company at 5 Houston Center,
      1401 McKinney, Suite 2400, Houston, Texas 77010, to the attention of the
      General Counsel, or to such other address as Employee shall receive notice
      thereof.

              

      

      

      
        	
                 
      

              	
                If
      to Employee, to his last known personal
  residence.

              

      

    

    

      5.3.           This
Agreement shall be governed by and construed and enforced, in all respects in
accordance with the law of the State of Texas, without regard to principles of
conflicts of law, unless preempted by federal law, in which case federal law
shall govern; provided, however, that the Halliburton Dispute Resolution Plan
and the Federal Arbitration Act shall govern in all respects with regard to the
resolution of disputes hereunder.

       

    

    5.4.           No
failure by either party hereto at any time to give notice of any breach by the
other party of, or to require compliance with, any condition or provision of
this Agreement shall be deemed a waiver of similar or dissimilar provisions or
conditions at the same or at any prior or subsequent time.

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    5.5.           It
is the desire and intent of the parties that the terms, provisions, covenants,
and remedies contained in this Agreement shall be enforceable to the fullest
extent permitted by law. If any such term, provision, covenant, or remedy of
this Agreement or the application thereof to any person, association, or entity
or circumstances shall, to any extent, be construed to be invalid or
unenforceable in whole or in part, then such term, provision, covenant, or
remedy shall be construed in a manner so as to permit its enforceability under
the applicable law to the fullest extent permitted by law. In any case, the
remaining provisions of this Agreement or the application thereof to any person,
association, or entity or circumstances other than those to which they have been
held invalid or unenforceable, shall remain in full force and
effect.

    

    5.6.           It
is the mutual intention of the parties to have any dispute concerning this
Agreement resolved out of court.  Accordingly, the parties agree that
any such dispute shall, as the sole and exclusive remedy, be submitted for
resolution through the Halliburton Dispute Resolution Plan; provided, however,
that the Employer, on its own behalf and on behalf of any of the Halliburton
Entities, shall be entitled to seek a restraining order or injunction in any
court of competent jurisdiction to prevent any breach or the continuation of any
breach of the provisions of Article 4 and Employee hereby consents that such
restraining order or injunction may be granted without the necessity of the
Employer posting any bond.  The parties agree that the resolution of
any such dispute through such Plan shall be final and binding.

    

    5.7.           This
Agreement shall be binding upon and inure to the benefit of Employer, to the
extent herein provided, Halliburton and any other person, association, or entity
which may hereafter acquire or succeed to all or substantially all of the
business or assets of Employer or Halliburton by any means whether direct or
indirect, by purchase, merger, consolidation, or otherwise. Employee's rights
and obligations under this Agreement are personal and such rights, benefits, and
obligations of Employee shall not be voluntarily or involuntarily assigned,
alienated, or transferred, whether by operation of law or otherwise, without the
prior written consent of Employer, other than in the case of death or
incompetence of Employee.

    

    5.8.           This
Agreement replaces and merges any previous agreements and discussions, oral and
written, pertaining to the subject matter covered herein. This Agreement
constitutes the entire agreement of the parties with regard to the terms of
Employee's employment, termination of employment and severance benefits, and
contains all of the covenants, promises, representations, warranties, and
agreements between the parties with respect to such matters.  Each
party to this Agreement acknowledges that no representation, inducement,
promise, or agreement, oral or written, has been made by either party with
respect to the foregoing matters which is not embodied herein, and that no
agreement, statement, or promise relating to the employment of Employee by
Employer that is not contained in this Agreement shall be valid or binding. Any
modification of this Agreement will be effective only if it is in writing and
signed by each party whose rights hereunder are affected thereby, provided that
any such modification must be authorized or approved in accordance with any
applicable policies and procedures of both Employer and
Halliburton.

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    IN WITNESS WHEREOF, Employer
and Employee have duly executed this Agreement in multiple originals to be
effective on the Effective Date.

    

    

    HALLIBURTON ENERGY SERVICES,
INC.

    

    By:       /s/ David J.
Lesar_________________

    Name:  David J.
Lesar

    Title:    Chairman
of the Board, President,

                        
and Chief Executive Officer

    

    

    EMPLOYEE

    

    /s/ James Scott
Brown____________________

    James Scott Brown

    
       

      
        10

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