Document:

exv10w2

Exhibit 10.2

AMENDMENT TO

STOCK PURCHASE AGREEMENT

     This Amendment to Stock Purchase Agreement (“Amendment”) is made as of November 16,
2009, by and between ROYAL BANCSHARES OF PENNSYLVANIA, INC., a Pennsylvania business corporation
and registered bank holding company (“Seller”), and ROYAL ASIAN BANCSHARES, INC., a
Pennsylvania business corporation (“Buyer”).

BACKGROUND:

     1. Seller and Buyer heretofore entered into a Stock Purchase Agreement on September 24, 2009
(“Agreement”). Capitalized terms and phrases used in this Amendment and not otherwise
defined herein shall have the same meanings as set forth in the Agreement.

     2. Section 2.1 of the Agreement provides that the Purchase Price to be paid by Buyer to Seller
at the Closing shall be $15,217,988.00. Seller and Buyer desire to amend the Purchase Price to an
amount equal to the greater of: (i) the amount of shareholders’ equity of RAB, determined in
accordance with GAAP as of the end of the calendar month immediately preceding the month in which
the Closing Date occurs, plus one million dollars ($1,000,000.00); or (ii) fifteen million
dollars ($15,000,000.00).

     3. Section 6.1 of the Agreement requires that, as promptly as practicable, but not later than
October 24, 2009, Buyer will make all filings with Governmental Entities required by applicable
Legal Requirements to consummate the Contemplated Transactions. Buyer, by and through its legal
counsel, has been in contact with all of the Governmental Entities required by applicable Legal
Requirements to consummate the Contemplated Transactions, and is currently completing the necessary
regulatory applications based on the information and guidance it has received from the regulatory
authorities through these communications. Seller and Buyer desire to amend the Agreement to
provide that all filings with Governmental Entities required by applicable Legal Requirements to
consummate the Contemplated Transactions be made by December 10, 2009.

     4. Section 7.3(i) of the Agreement requires Buyer to have received at least $10.0 million in
net proceeds in the Buyer Private Placement by November 15, 2009. Buyer has advised Seller that,
despite its diligent efforts in conducting the Private Placement, Buyer will not have received at
least $10.0 million in net proceeds in the Buyer Private Placement by November 16, 2009, but
expects to receive net proceeds in an amount at least equal to the Purchase Price by December 15,
2009. Seller and Buyer desire to amend the relevant portions of the Agreement to waive the
requirement that Buyer have received at least $10.0 million in net proceeds in the Buyer Private
Placement by November 15, 2009 and instead provide that Buyer is required to have received net
proceeds in an amount at least equal to the Purchase Price by December 15, 2009.

     5. Seller and Buyer desire to amend the Agreement on the terms and conditions set forth
herein.

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     NOW, THEREFORE, in consideration of the mutual covenants contained herein, and intending to be
legally bound, the parties hereto agree to amend the Agreement as follows:

     1. The provisions of the above Background section are incorporated herein by reference and
made an integral part hereof.

     2. Section 2.1 of the Agreement is hereby amended to read in its entirety as follows:

     “2.1. Purchase and Sale of Shares; Purchase Price. Subject to the terms and
conditions of this Agreement, at the Closing (as such term is hereinafter defined in Section
2.2), Seller will sell and transfer all of the Shares to Buyer, and Buyer will purchase the
Shares from Seller for an aggregate purchase price (the “Purchase Price”) equal to the
greater of: (i) RAB’s total shareholders’ equity, determined in accordance with GAAP as of
the end of the calendar month immediately preceding the month in which the Closing Date
occurs, plus one million dollars ($1,000,000.00); or (ii) fifteen million dollars
($15,000,000.00), to be paid in immediately available funds by wire transfer at Closing. By
way of clarification, no consideration shall be payable for any shares of Common Stock owned
by Shin at the Closing Date, which shares of Common Stock, shall remain issued and
outstanding after the Closing Date and which shares of Common Stock shall not be deemed to
be part of or included in the Contemplated Transactions.”

     3. Section 2.3(b)(i) of the Agreement is hereby amended to read in its entirety as follows:

     “(i) the Purchase Price (including amounts payable to Seller pursuant to the Escrow
Agreement) in immediately available funds by wire transfer to an account specified by
Seller:”

     4. The first sentence of Section 6.1 of the Agreement is hereby amended to read in its
entirety as follows:

“As promptly as practicable, but in no event later than December 10, 2009, Buyer will make
all filings with Governmental Entities required by applicable Legal Requirements to
consummate the Contemplated Transactions.”

     5. Section 7.3 of the Agreement is hereby amended to read in its entirety as follows:

     “7.3. Buyer Private Placement. Buyer shall have, on or prior to December 15,
2009, received net proceeds in the Buyer Private Placement for the purpose of acquiring the
Shares on the Closing Date in the amount of the total Purchase Price (which receipt shall be
evidenced by signed irrevocable subscription agreements delivered to Seller and the deposit
of immediately available funds in such amount and for such purpose in an account or accounts
certified by the Chief Executive Officer of Buyer, together with such additional documents
as may be reasonably requested by Seller to evidence such receipt).”

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     6. Section 10.1(e) of the Agreement is hereby amended to read in its entirety as follows:

     “(e) by either Buyer of Seller on or after March 31, 2010, if the Closing has not
occurred (other than through the failure of any party seeking to terminate this Agreement to
comply fully with its obligations under this Agreement) on or before such date, or such
later date as the parties may agree;”

     7. Section 10.1(f) of the Agreement is hereby deleted in its entirety and is replaced with the
following:

     “(f) [INTENTIONALLY OMITTED]”

     8. Section 10.1(g) of the Agreement is hereby amended to read in its entirety as follows:

     “(g) by Seller on or after December 16, 2009, if Seller does not receive from Buyer
evidence satisfactory to Seller of the satisfaction of the condition set forth in Section
7.3 (which satisfactory evidence shall include (1) signed irrevocable subscription
agreements for at least the amount set forth in Section 7.3 of this Agreement and (2) the
deposit of immediately available funds in an amount at least equal to the amount set forth
in Section 7.3 of this Agreement certified by the Chief Executive Officer of Buyer) on or
before December 15, 2009 (or such later date as may be determined in Seller’s sole
discretion).”

     9. The last sentence of Section 10.2(a) is hereby amended to read in its entirety as follows:

     “For the avoidance of doubt, the fact that the obligation of Buyer to receive net proceeds
in the Buyer Private Placement in the amount referenced in Section 7.3 may be deemed to be
a mutual condition precedent to the Closing shall in no way affect Seller’s right to
terminate this Agreement pursuant to Section 10.1(g).”

     10. Section 10.2(b) of the Agreement is hereby amended to read in its entirety as follows:

     “(a) Notwithstanding anything contained herein to the contrary, Buyer shall pay
Seller, by wire transfer of immediately available funds to an account designated by
Seller, $250,000.00 in cash (the “Buyer Termination Fee”) held pursuant to
the Escrow Agreement on or before the fifth (5th) Business Day after the date of
termination if this Agreement is terminated (i) by Seller pursuant to Section
10.1(b) as a result of a breach by Buyer of any representation, warranty or
obligation of Buyer or (ii) by Seller pursuant to Section 10.1(g). By way of
clarification, if the Agreement is terminated under Section 10.1(a) after December
15, 2009 and Buyer shall not have satisfied the condition set forth in Section 7.3
by December 15, 2009, the Buyer Termination Fee shall be payable to Seller.

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The parties acknowledge and agree that the Buyer Termination Fee shall be payable directly to Seller pursuant to
the Escrow Agreement.”

     11. Except as supplemented or amended by this Amendment, the Agreement is in all respects
ratified and confirmed, and the Agreement and this Amendment shall be read, taken and construed as
one and the same instrument. All of the rights, remedies, terms, conditions, covenants and
agreements of the Agreement as supplemented and amended hereby shall apply and remain in full force
and effect. In the event of any conflict between the provisions of the Agreement and this
Amendment, the provisions of this Amendment shall prevail.

     12. This Amendment shall be governed by and construed in accordance with laws of the
Commonwealth of Pennsylvania.

     IN WITNESS WHEREOF, the parties have executed and delivered this Amendment to Stock Purchase
Agreement as of the date first written above.

	 	 	 	 	 
	 	ROYAL BANCSHARES OF PENNSYLVANIA, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	James J. McSwiggan 	 
	 	 	Title:  	President and Chief Operating Officer 	 
	 
	 	ROYAL ASIAN BANCSHARES, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	Edward E. Shin 	 
	 	 	Title:  	President and Chief Executive Officer 	 
	 

4exv10w1

Exhibit 10.1

NOBLE ENERGY, INC.

1992 STOCK OPTION AND RESTRICTED STOCK PLAN

2009 RESTRICTED STOCK AGREEMENT

     THIS AGREEMENT, made and entered into as of the 16th day of November, 2009, by and
between NOBLE ENERGY, INC., a Delaware corporation (the “Company”), and Kenneth M. Fisher
(“Employee”),

WITNESSETH THAT:

     WHEREAS, the Compensation, Benefits and Stock Option Committee of the Company’s Board of
Directors (the “Committee”), acting under the Company’s 1992 Stock Option and Restricted Stock Plan
adopted on January 28, 1992, as amended (the “Plan”), has the authority to award restricted shares
of the common stock of the Company to certain employees of the Company or an Affiliate (as defined
in the Plan); and

     WHEREAS, pursuant to the Plan the Committee has determined to make such an award to Employee
on the terms and conditions and subject to the restrictions set forth in the Plan and this
Agreement, and Employee desires to accept such award;

     NOW, THEREFORE, in consideration of the premises and mutual covenants and agreements contained
herein, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as
follows:

     1. Restricted Stock Award. On the terms and conditions and subject to the
restrictions, including forfeiture, hereinafter set forth, the Company hereby awards to Employee,
and Employee hereby accepts, a restricted stock award (the “Award”) of 35,576 shares (the
“Restricted Shares”) of common stock, par value $3.33 1/3 per share, of the Company. The Award is
made effective as of November 16, 2009 (the “Effective Date”). The Restricted Shares shall be
issued in book-entry or stock certificate form in the name of Employee as of the Effective Date and
delivered to Employee on the Effective Date or as soon thereafter as practicable. Employee shall
take all such action as may be requested by the Company to cause the Restricted Shares to be
deposited with the Company, together with any executed stock powers and/or other instruments of
transfer reasonably requested by the Company, to be held by the Company in escrow for Employee’s
benefit until such time as the Restricted Shares are either forfeited by Employee to the Company or
the restrictions thereon terminate as set forth in this Agreement.

     2. Vesting and Forfeiture.

     (a) Until the third anniversary of the Effective Date, (i) the Restricted Shares shall be
subject to being forfeited by Employee to the Company as provided in this Agreement, and (ii)
Employee may not sell, assign, transfer, discount, exchange, pledge or otherwise encumber or
dispose of any of the Restricted Shares unless the restrictions

 

 

applicable to such shares have terminated in accordance with the provisions of this Agreement
or the Plan.

     (b) If Employee remains employed by the Company or an Affiliate until:

     (1) the first anniversary of the Effective Date, then on such anniversary date 20% of
the Restricted Shares (or if such percentage results in a number of shares that includes a
fraction, then the next lower whole number of shares) shall become nonforfeitable and the
other restrictions applicable hereunder to such shares shall terminate;

     (2) the second anniversary of the Effective Date, then on such anniversary date an
additional 30% of the Restricted Shares (or if such percentage results in a number of shares that includes a fraction, then the next lower whole number of shares) shall become
nonforfeitable and the other restrictions applicable hereunder to such shares shall
terminate; and

     (3) the third anniversary of the Effective Date, then on such anniversary date the
remainder of the Restricted Shares shall become nonforfeitable and the other restrictions
applicable hereunder to such shares shall terminate.

As soon as practicable (but in no event later than 60 days) after the termination of the
restrictions applicable hereunder to a portion of the Restricted Shares, such portion of the
Restricted Shares, together with any dividends or other distributions with respect to such shares
then being held by the Company pursuant to the provisions of this Agreement, shall be delivered to
Employee free of such restrictions.

     (c) If Employee’s employment with the Company or an Affiliate terminates prior to the third
anniversary of the Effective Date by reason of Employee’s death or Disability (as defined in
Section 2(f)(iii)), the restrictions applicable hereunder to all of the Restricted Shares that are
still subject to the restrictions of this Agreement shall terminate, and as soon as practicable
(but in no event later than 60 days) after such termination of employment the Restricted Shares,
together with any dividends or other distributions with respect to such shares then being held by
the Company pursuant to the provisions of this Agreement, shall be delivered to Employee (or in the
event of Employee’s death, to Employee’s estate) free of such restrictions.

     (d) If Employee’s employment with the Company or an Affiliate terminates prior to the third
anniversary of the Effective Date for any reason other than Employee’s death or Disability, then on
the date of such termination of employment all of the Restricted Shares that are still subject to
the restrictions of this Agreement shall be forfeited by Employee and transferred to the Company at
no cost to the Company; provided, however, that if prior to the first anniversary of the Effective
Date Employee’s employment is terminated by action of the Company or an Affiliate for a reason
other than for Cause (as defined in Section 2(f)(i)), then upon the date of such termination of
employment 50% of the Restricted Shares (or if such percentage results in a number of

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shares that includes a fraction, then the next lower whole number of shares) shall become
nonforfeitable and the other restrictions applicable hereunder to such shares shall terminate, and
the remainder of the Restricted Shares that are still subject to the restrictions of this Agreement
shall be forfeited by Employee and transferred to the Company at no cost to the Company; provided,
further, that if on or after the first anniversary of the Effective Date and prior to the second
anniversary of the Effective Date Employee’s employment is terminated by action of the Company or
an Affiliate for a reason other than for Cause, then upon the date of such termination of
employment an additional 30% of the Restricted Shares (or if such percentage results in a number of
shares that includes a fraction, then the next lower whole number of shares) shall become
nonforfeitable and the other restrictions applicable hereunder to such shares shall terminate, and
the remainder of the Restricted Shares that are still subject to the restrictions of this Agreement
shall be forfeited by Employee and transferred to the Company at no cost to the Company. As soon
as practicable (but in no event later than 60 days) after the termination of the restrictions
applicable hereunder to a portion of the Restricted Shares, such portion of the Restricted Shares,
together with any dividends or other distributions with respect to such shares then being held by
the Company pursuant to the provisions of this Agreement, shall be delivered to Employee free of
such restrictions.

     (e) If a Change in Control (as defined in Section 2(f)(ii) hereof) occurs prior to the third
anniversary of the Effective Date and while Employee is employed by the Company or an Affiliate,
all of the Restricted Shares that are still subject to the restrictions of this Agreement shall
become nonforfeitable and the other restrictions applicable hereunder to such shares shall
terminate. As soon as practicable (but in no event later than 60 days) after the termination of
such restrictions the Restricted Shares (and/or any successor securities or other property
attributable to the Restricted Shares that may result from the Change in Control), together with
any dividends or other distributions with respect to such shares then being held by the Company
pursuant to the provisions of this Agreement, shall be delivered to Employee free of such
restrictions.

     (f) For the purposes of this Agreement, transfers of employment without interruption of
service between or among the Company and its Affiliates shall not be considered a termination of
employment, and the following terms as used herein shall have the following meanings:

     (i) “Cause” shall mean (1) the willful and continued failure by Employee to perform
the duties of Employee’s position with the Company or an Affiliate or Employee’s continued
failure to perform the duties reasonably requested or reasonably prescribed by the Board
(other than as a result of Employee’s death or Disability), (2) the engaging by Employee in
conduct involving a material misuse of the funds or property of the Company or an
Affiliate, (3) the gross negligence or willful misconduct by Employee in the performance of
Employee’s duties that results in, or causes, material monetary harm to the Company or an
Affiliate, (4) Employee’s commission of a felony or a civil or criminal offense involving
moral turpitude, or (5) Employee’s material violation of the Company’s Code of Business
Conduct and Ethics. The

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termination of Employee’s employment for Cause shall be made only after reasonable
notice to Employee and an opportunity for Employee, together with counsel, to appear before
the Board of Directors of the Company. Employee’s termination of employment for Cause
shall be effective only if agreed upon by a majority of the directors of the Board of
Directors of the Company.

     (ii) A “Change in Control” shall be deemed to have occurred if:

          (1) individuals who, as of the date hereof, constitute the Board of Directors of the
Company (the “Incumbent Board”) cease for any reason to constitute at least fifty-one
percent (51%) of the Board of Directors of the Company, provided that any person becoming a
director subsequent to the date hereof whose election, or nomination for election by the
Company’s stockholders was approved by a vote of at least a majority of the directors then
comprising the Incumbent Board shall be, for purposes of this Agreement, considered as
though such person were a member of the Incumbent Board;

          (2) the stockholders of the Company shall approve a reorganization, merger or
consolidation, in each case, with respect to which persons who were the stockholders of the
Company immediately prior to such reorganization, merger or consolidation do not,
immediately thereafter, own outstanding voting securities representing at least fifty-one
percent (51%) of the combined voting power entitled to vote generally in the election of
directors (“Voting Securities”) of the reorganized, merged or consolidated company;

          (3) the stockholders of the Company shall approve a liquidation or dissolution of the
Company or a sale of all or substantially all of the stock or assets of the Company; or

          (4) any “person,” as that term is defined in Section 3(a)(9) of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”) (other than the Company, any of its
subsidiaries, any employee benefit plan of the Company or any of its subsidiaries, or any
entity organized, appointed or established by the Company for or pursuant to the terms of
such a plan), together with all “affiliates” and “associates” (as such terms are defined in
Rule 12b-2 under the Exchange Act) of such person (as well as any “Person” or “group” as
those terms are used in Sections 13(d) and 14(d) of the Exchange Act), shall become the
“beneficial owner” or “beneficial owners” (as defined in Rules 13d-3 and 13d-5 under the
Exchange Act), directly or indirectly, of securities of the Company representing in the
aggregate twenty-five percent (25%) or more of either (A) the then outstanding shares of
common stock, par value $3.33-1/3 per share, of the Company (“Common Stock”) or (B) the
Voting Securities of the Company, in either such case other than solely as a result of
acquisitions of such securities directly from the Company. Without limiting the foregoing,
a person who, directly or indirectly, through any contract, arrangement, understanding,
relationship or otherwise has or shares the power to vote, or to direct the voting of, or
to dispose, or to direct the disposition of, Common Stock or other Voting

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Securities of the Company shall be deemed the beneficial owner of such Common Stock or
Voting Securities.

     Notwithstanding the foregoing, a “Change in Control” of the Company shall not be
deemed to have occurred for purposes of subparagraph (4) of this Section 2(f)(ii) solely as
the result of an acquisition of securities by the Company which, by reducing the number of shares of Common Stock or other Voting Securities of the Company outstanding, increases (i)
the proportionate number of shares of Common Stock beneficially owned by any person to
twenty-five percent (25%) or more of the shares of Common Stock then outstanding or (ii)
the proportionate voting power represented by the Voting Securities of the Company
beneficially owned by any person to twenty-five percent (25%) or more of the combined
voting power of all then outstanding Voting Securities; provided, however, that if any
person referred to in clause (i) or (ii) of this sentence shall thereafter become the
beneficial owner of any additional shares of Common Stock or other Voting Securities of the
Company (other than a result of a stock split, stock dividend or similar transaction), then
a Change in Control of the Company shall be deemed to have occurred for purposes
subparagraph (4) of this Section 2(f)(ii).

     (iii) The “Disability” of Employee shall mean that Employee is disabled, due to
sickness, injury or other physical or mental incapacity, and as a result of such disability
is entitled to receive disability benefits under the Company’s long-term disability
insurance plan.

     3. Rights as Shareholder. Subject to the provisions of this Agreement, upon the
issuance of the Restricted Shares to Employee, Employee shall become the owner thereof for all
purposes and shall have all rights as a stockholder, including voting rights and the right to
receive dividends and distributions, with respect to the Restricted Shares. If the Company shall
pay or declare a dividend or make a distribution of any kind, whether due to a reorganization,
recapitalization or otherwise, with respect to the shares of Company common stock constituting the
Restricted Shares, then the Company shall pay or make such dividend or other distribution with
respect to the Restricted Shares; provided, however, that with respect to any of the Restricted
Shares that are still subject to the restrictions of this Agreement, the cash, stock or other
securities and other property constituting such dividend or other distribution pertaining to such
Restricted Shares shall be held by the Company subject to the restrictions applicable hereunder to
such Restricted Shares until such Restricted Shares are either forfeited by Employee and
transferred to the Company or the restrictions thereon terminate as set forth in this Agreement.
If the Restricted Shares with respect to which such dividend or distribution was paid or made are
forfeited by Employee pursuant to the provisions hereof, then Employee shall not be entitled to
receive such dividend or distribution and such dividend or distribution shall likewise be forfeited
and transferred to the Company. If the restrictions applicable to the Restricted Shares with
respect to which such dividend or distribution was paid or made terminate in accordance with the
provisions of this Agreement, then Employee shall be entitled to receive such dividend or
distribution with respect to such shares, without interest, and such dividend or distribution shall likewise be
delivered to Employee.

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     4. Withholding Taxes.

     (a) Employee may elect, within 30 days of the Effective Date and on notice to the Company, to
realize income for federal income tax purposes equal to the fair market value of the Restricted
Shares on the Effective Date. In such event, Employee shall make arrangements satisfactory to the
Company or the appropriate Affiliate to pay in the year of the Award any federal, state or local
taxes required to be withheld with respect to such shares. Such arrangements may include, to the
extent such arrangements are acceptable to the Company or such Affiliate and do not provide for tax
withholding in amounts in excess of the minimum withholding requirements contemplated by SFAS
123(R), the transfer of the Restricted Shares or other shares of Common Stock to the Company or
such Affiliate for application to satisfy such withholding requirements on the basis of the Fair
Market Value (as defined in the Plan) of such shares on the date of transfer to the Company or such
Affiliate. If Employee fails to make such payments, then any provision of this Agreement to the
contrary notwithstanding, the Company and its Affiliates shall, to the extent permitted by law,
have the right to deduct from any payments of any kind otherwise due from the Company or an
Affiliate to or with respect to Employee, whether or not pursuant to this Agreement, or the Plan
and regardless of the form of payment, any federal, state or local taxes of any kind required by
law to be withheld with respect to the Restricted Shares.

     (b) If no election is made by Employee pursuant to Section 4(a) hereof, then upon the
termination of the restrictions applicable hereunder to the Restricted Shares, Employee (or in the
event of Employee’s death, the administrator or executor of Employee’s estate) will pay to the
Company or the appropriate Affiliate, or make arrangements satisfactory to the Company or such
Affiliate regarding payment of, any federal, state or local taxes of any kind required by law to be
withheld with respect to the Restricted Shares. Such arrangements may include, to the extent such
arrangements are acceptable to the Company or such Affiliate and do not provide for tax withholding
in amounts in excess of the minimum withholding requirements contemplated by SFAS 123(R), the
transfer of the Restricted Shares or other shares of Common Stock to the Company or such Affiliate
for application to satisfy such withholding requirements on the basis of the Fair Market Value (as
defined in the Plan) of such shares on the date of transfer to the Company or such Affiliate. If
Employee (or in the event of Employee’s death, the administrator or executor of Employee’s estate)
fails to make such payments, then any provision of this Agreement to the contrary notwithstanding,
the Company and its Affiliates shall, to the extent permitted by law, have the right to deduct from
any payments of any kind otherwise due from the Company or an Affiliate to or with respect to
Employee, whether or not pursuant to this Agreement, or the Plan and regardless of the form of
payment, any federal, state or local taxes of any kind required by law to be withheld with respect
to the Restricted Shares.

     5. Reclassification of Shares. In case of any consolidation or merger of another
corporation into the Company in which the Company is the surviving corporation

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and in which there is a reclassification or change (including the right to receive cash or
other property) of the Restricted Shares (other than a change in par value, or from par value to no
par value, or as a result of a subdivision or combination, but including any change in such shares
into two or more classes or series of shares), the Committee may provide that payment of the
Restricted Shares shall take the form of the kind and amount of shares of stock and other
securities (including those of any new direct or indirect parent of the Company), property, cash or
any combination thereof receivable upon such consolidation or merger.

     6. Effect on Employment. Nothing contained in this Agreement shall confer upon
Employee the right to continue in the employment of the Company or an Affiliate, or affect any
right which the Company or an Affiliate may have to terminate the employment of Employee.

     7. Legend. Any certificate representing the Restricted Shares shall conspicuously set
forth on the face or back thereof, in addition to any legends required by applicable law or other
agreement, a legend in substantially the following form:

THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ISSUED PURSUANT TO THE TERMS OF
THE NOBLE ENERGY, INC. 1992 STOCK OPTION PLAN AND RESTRICTED STOCK PLAN AND MAY NOT BE
SOLD, ASSIGNED, TRANSFERRED, DISCOUNTED, EXCHANGED, PLEDGED OR OTHERWISE ENCUMBERED OR
DISPOSED OF IN ANY MANNER, EXCEPT AS SET FORTH IN THE TERMS OF THE AGREEMENT EMBODYING
THE AWARD OF SUCH SHARES DATED NOVEMBER 16, 2009. A COPY OF SUCH AGREEMENT IS ON FILE
IN THE OFFICE OF THE COMPANY.

     8. Assignment. The Company may assign all or any portion of its rights and
obligations under this Agreement. The Award, the Restricted Shares and the rights and obligations
of Employee under this Agreement may not be sold, assigned, transferred, discounted, exchanged,
pledged or otherwise encumbered or disposed of by Employee other than by will or the laws of
descent and distribution.

     9. Binding Effect. This Agreement shall be binding upon and inure to the benefit of
(i) the Company and its successors and assigns, and (ii) Employee, and Employee’s heirs, devisees,
executors, administrators and personal representatives.

     10. Amendment. This Agreement may be amended or terminated at any time by an
instrument in writing to such effect executed by both parties.

     11. Notices. All notices required or permitted to be given or made under this
Agreement shall be in writing and shall be deemed to have been duly given or made if (i) delivered
personally, (ii) transmitted by first class registered or certified United States mail, postage
prepaid, return receipt requested, (iii) sent by prepaid overnight courier service, or (iv) sent by
telecopy or facsimile transmission, answer back requested, to the person who is to receive it at
the address that such person has theretofore specified by

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written notice delivered in accordance herewith. Such notices shall be effective (i) if
delivered personally or sent by courier service, upon actual receipt by the intended recipient,
(ii) if mailed, upon the earlier of five days after deposit in the mail or the date of delivery as
shown by the return receipt therefor, or (iii) if sent by telecopy or facsimile transmission, when
the answer back is received. The Company or Employee may change, at any time and from time to
time, by written notice to the other, the address that the Company or Employee had theretofore
specified for receiving notices. Until such address is changed in accordance herewith, notices
under this Agreement shall be delivered or sent (i) to Employee at Employee’s address as set forth
in the records of the Company, or (ii) to the Company at the principal executive offices of the
Company clearly marked “Attention: Lee Robison”.

     12. Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of the State of Texas without regard to its principles of conflict of laws.

     13. Severability. If any provision of this Agreement is held to be unenforceable,
this Agreement shall be considered divisible and such provision shall be deemed inoperative to the
extent it is deemed unenforceable, and in all other respects this Agreement shall remain in full
force and effect; provided, however, that if any such provision shall be deemed to be so limited
and shall be enforceable by limitation thereof, then the provision shall be so limited and shall be
enforceable to the maximum extent permitted by applicable law.

     14. Further Assurances. The parties agree to execute such additional instruments and
to take all such further action as may be reasonably necessary to carry out the intent and purposes
of this Agreement.

     15. Entire Agreement. This Agreement and Plan set forth the entire agreement between
the parties with respect to the subject matter hereof, and supersede all prior agreements and
understandings, whether written or oral, between the parties with respect to the subject matter
hereof.

     16. Subject to Plan. The Award, the Restricted Shares and this Agreement are subject
to all of the terms and conditions of the Plan as amended from time to time. In the event of any
conflict between the terms and conditions of the Plan and those set forth in this Agreement, the
terms and conditions of the Plan shall control.

     17. Counterparts. This Agreement may be executed by the parties hereto in any number
of counterparts, each of which shall be deemed an original, and all of which shall constitute one
and the same agreement.

     18. Descriptive Headings. The descriptive headings herein are inserted for
convenience of reference only, do not constitute a part of this Agreement, and shall not affect in
any manner the meaning or interpretation of this Agreement.

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     19. References. The words “this Agreement,” “herein,” “hereof,” “hereby,” “hereunder”
and words of similar import refer to this Agreement as a whole and not to any particular
subdivision unless expressly so limited.

[SIGNATURE PAGE TO FOLLOW]

-9-

 

     IN WITNESS WHEREOF, the Company and Employee have executed this Agreement as of the date first
written above.

	 	 	 	 	 
	 	NOBLE ENERGY, INC.

 	 
	 	By:  	/s/ Charles D. Davidson
 	 
	 	 	Name:  	Charles. D. Davidson 	 
	 	 	Title:  	Chairman and Chief Executive Officer 	 
	 	 	 
	 
	 	EMPLOYEE

 	 
	 	/s/ Kenneth M. Fisher
 	 
	 	Employee Signature 	 
	 	 	 
	 	 	 
	 	Kenneth M. Fisher
 	 
	 	Employee Printed Name 	 
	 	 	 

-10-

 

	 	 	 	 	 

STOCK POWER AND ASSIGNMENT

SEPARATE FROM CERTIFICATE

     FOR VALUE RECEIVED and pursuant to that certain Noble Energy, Inc. 1992 Stock Option and
Restricted Stock Plan Restricted Stock Agreement dated as of November 16, 2009 (the “Agreement”),
the undersigned Employee hereby sells, assigns and transfers unto Noble Energy, Inc., 35,576 shares
of the Common Stock, $3.33 1/3 par value per share, of Noble Energy, Inc., a Delaware corporation
(the “Company”), standing in the undersigned’s name on the books of the Company, and does hereby
irrevocably constitute and appoint the Secretary of the Company as the undersigned’s
attorney-in-fact, with full power of substitution, to transfer said stock on the books of the
Company. THIS ASSIGNMENT MAY ONLY BE USED AS AUTHORIZED BY THE AGREEMENT.

Dated: _____________________

	 	 	 	 	 
	 	EMPLOYEE:

 	 
	 	
 	 
	 	Name Printed: Kenneth M. Fisher

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