Document:

exv10wiw1

 

EXHIBIT 10.I.1

AMENDMENT NO. 1 TO THE

EL PASO ENERGY CORPORATION

KEY EXECUTIVE SEVERANCE PROTECTION PLAN

     Pursuant to Section 8 of the El Paso Energy Corporation Key Executive Severance Protection
Plan, Amended and Restated effective as of August 1, 1998 (the “Plan”), the Plan is hereby amended
as follows, effective February 7, 2001:

     WHEREAS, the Certificate of Incorporation of El Paso Energy Corporation, a Delaware
corporation, was amended to change the name of the corporation to El Paso Corporation effective
February 7, 2001.

     NOW THEREFORE, the name of the Plan is hereby changed to the “El Paso Corporation Key
Executive Severance Protection Plan” and all references in the Plan to “El Paso Energy Corporation”
or the “Company” shall mean “El Paso Corporation.”

     IN WITNESS WHEREOF, the Company has caused this amendment to be duly executed on this
7th day of February 2001.

	 	 	 	 	 
	 	EL PASO CORPORATION

 	 
	 	By:  	     /s/ Joel Richards III
 	 
	 	 	Joel Richards III 	 
	 	 	Executive Vice President

Human Resources and Administration 	 
	 

	 	 	 
	Attest:
	 	 
	 
	 	 
	/s/ David L. Siddall
	 	 
	 

Corporate Secretaryexv10wiw2

 

EXHIBIT 10.I.2

AMENDMENT NO. 2 TO THE

EL PASO CORPORATION

KEY EXECUTIVE SEVERANCE PROTECTION PLAN

     Pursuant to Section 8.1 of the El Paso Corporation Key Executive Severance Protection Plan,
Amended and Restated effective as of August 1, 1998, as amended (the “Plan”), effective November 7,
2002, the Plan is hereby amended to attach Appendix II to provide a list of certain officers of the
Company and its subsidiaries who are deemed to be participants in the Plan, in addition to those
participants who are eligible to participate in the Plan pursuant to Section 3.1 of the Plan, and
closed to any other new participants.

     IN WITNESS WHEREOF, the Company has caused this amendment to be duly executed on this 7th day
of November, 2002.

	 	 	 	 	 
	 	EL PASO CORPORATION

 	 
	 
	 	By:  	     /s/ David E. Zerhusen
 	 
	 	 	David E. Zerhusen 	 
	 	 	Its Executive Vice President

Administration 	 
	 

	 	 	 	 	 
	ATTEST:	 	 
	 
	By:

	 	/s/ David L. Siddall	 	 
	 

	 	 

Corporate Secretary
	 	 

 

 

APPENDIX II

EL PASO CORPORATION

KEY EXECUTIVE SEVERANCE PROTECTION PLAN

     The following individuals are deemed to be participants in the Plan as of each individual’s
effective date of participation (“Effective Date of Participation”).

	 	 	 
	Employee	 	Effective Date of Participation
	Wayne B. Allred

	 	November 7, 2002
	Robert W. Baker

	 	November 7, 2002
	Randy L. Bartley

	 	November 7, 2002
	Stephen C. Beasley

	 	November 7, 2002
	James J. Cleary

	 	November 7, 2002
	Daniel F. Collins

	 	November 7, 2002
	Bruce Connery

	 	November 7, 2002
	Ralph Eads

	 	December 4, 2001
	John T. Elzner

	 	November 7, 2002
	Rodney D. Erskine

	 	December 4, 2001
	Greg G. Gruber

	 	November 7, 2002
	John L. Harrison

	 	November 7, 2002
	Peggy A. Heeg

	 	December 4, 2001
	E. Jay Holm

	 	November 7, 2002
	John J. Hopper

	 	November 7, 2002
	Gregory W. Huston

	 	November 7, 2002
	Harvey R. Klingensmith

	 	November 7, 2002
	Gary J. Konnie

	 	November 7, 2002
	Charles W. Latch

	 	November 7, 2002
	Richard J. Louden

	 	November 7, 2002
	Daniel B. Martin

	 	November 7, 2002
	Graciela E. Martinez

	 	November 7, 2002
	Kevin J. McMichael

	 	November 7, 2002
	Joseph A. Mills

	 	November 7, 2002
	D. Dwight Scott

	 	October 1, 2002
	David L. Siddall

	 	November 7, 2002
	Clark C. Smith

	 	November 7, 2002
	Judy A. Vandagriff

	 	November 7, 2002
	Gene W. Waguespack

	 	November 7, 2002
	James C. Yardley

	 	November 7, 2002
	David E. Zerhusen

	 	October 1, 2002
	 
	 	 
	Acknowledged and Accepted this 7th day of November, 2002.

	 	 	 	 	 
	By:
	 	/s/ David E. Zerhusen 	 	 
	 

	 	 	 	 
	 

	 	David E. Zerhusen	 	 
	 

	 	Its Executive Vice President	 	 
	 

	 	Administrationexv10wiw3

 

EXHIBIT 10.I.3

AMENDMENT NO. 3 TO THE

EL PASO CORPORATION

KEY EXECUTIVE SEVERANCE PROTECTION PLAN

     Pursuant to Section 8.1 of the El Paso Corporation Key Executive Severance Protection Plan,
Amended and Restated effective as of August 1, 1998, as amended (the “Plan”), by resolution of the
Board of Directors of the Company, the Plan was amended and closed to any new participants
effective as of August 1, 1998, unless expressly determined otherwise by the Board of Directors.

     IN WITNESS WHEREOF, the Company has caused this amendment to be duly executed on this 6th day
of December, 2002.

	 	 	 	 	 
	 	EL PASO CORPORATION

 	 
	 	By:  	     /s/ David E. Zerhusen
 	 
	 	 	David E. Zerhusen 	 
	 	 	Its Executive Vice President

Administration 	 
	 

	 	 	 	 	 	 	 
	 

	 	ATTEST:	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ David L. Siddall
 

Corporate Secretaryexv10wiw5

 

EXHIBIT 10.I.5

AMENDMENT NO. 5 TO THE

EL PASO CORPORATION

KEY EXECUTIVE SEVERANCE PROTECTION PLAN

     WHEREAS, El Paso Corporation (the “Company”) maintains the El Paso Corporation Key Executive
Severance Protection Plan (the “Plan”), effective as of August 1, 1998; and

     WHEREAS, Section 8.1 of the Plan permits the Board of Directors from time to time to amend the
Plan, in whole or in part; and

     WHEREAS, it is intended hereby to amend the Plan to comply with Section 409A of the Internal
Revenue Code of 1986, as amended.

     NOW, THEREFORE, the Plan is amended as follows:

     1. Section 4.2 is hereby amended in its entirety to read as follows:

     “4.2 Amount of Severance Benefit

     If a Participant’s employment is terminated in circumstances entitling him or
her to a Severance Benefit as provided in Section 4.1, such Participant shall be
entitled to the following benefits:

     (a) the Company shall pay to the Participant, as severance pay and in lieu of
any further salary for periods subsequent to the Termination Date (as specified in
Section 5.2), in a single payment (without any discount for accelerated payment),
an amount in cash equal to three (3) times the sum of (A) the Participant’s Base
Salary and (B) the Bonus Amount;

     (b) for a period of eighteen (18) months subsequent to the Participant’s
termination of employment, the Company shall at its expense continue on behalf of
the Participant and his or her dependents and beneficiaries, the basic life
insurance, flexible spending account, medical and dental benefits which were being
provided to the Participant at the time of termination of employment. The
benefits provided in this Subsection 4.2(b) shall be no less favorable to the
Participant, in terms of amounts and deductibles and costs to him or her, than the
coverage provided the Participant under the plans providing such benefits at the
time Notice of Termination is given. The Company’s obligation hereunder to
provide the foregoing benefits shall terminate if the Participant obtains health
benefits coverage under a subsequent employer’s benefit plans. The Company also
shall pay a lump sum equal to the amount of any additional income tax payable by
the Participant and attributable to the benefits provided under this Subsection
4.2 (b) at the time such tax is imposed upon the Participant. Except as

 

 

provided below with respect to a Specified Employee (as defined below), the payment of any health or
medical claims for the health and medical coverage provided in this Subsection
4.2(b) shall be made to a Participant as soon as administratively practicable
after a Participant has provided the appropriate claim documentation, but in no
event shall the payment for any such health or medical claim be paid later than
the last day of the calendar year following the calendar year in which the expense
was incurred. Notwithstanding anything herein to the contrary, to the extent
required by Section 409A of the Code: (1) the amount of medical claims eligible
for reimbursement or to be provided as an in-kind benefit under this Plan during a
calendar year may not affect the medical claims eligible for reimbursement or to
be provided as an in-kind benefit in any other calendar year, and (2) the right to
reimbursement or in-kind benefits under this Plan shall not be subject to
liquidation or exchange for another benefit. With respect to a Specified
Employee, during the six-month period commencing the date after the Specified
Employee’s Termination Date, the cost of any health or medical claims for health
and medical coverage provided in this Subsection 4.2(b) which are not otherwise
exempt from Section 409A of the Code shall be paid by the Specified Employee to
the health and medical service provider and reimbursed by the Company after the
completion of such six-month period but no later than the last day of the calendar
year following the calendar year in which such health and medical expenses were
incurred.

     (c) the Company shall pay a lump sum pension supplement payable under the
terms of the El Paso Corporation Supplemental Benefit Plan (“Supplemental Plan”)
or El Paso Corporation 2005 Supplemental Benefits Plan (“2005 Supplemental Plan”)
equal to a pension calculated by adding three years of additional credited pension
service to the Participant’s existing credited pension service as of the
termination of the Participant’s employment, and then by calculating the
Participant’s pension in accordance with the formula provided in the pension plan.
A Participant who is entitled to a pension supplement under any other agreement
between such Participant and the Company may elect, in writing, to receive the
pension supplement provided under this subparagraph (c) in lieu of, but not in
addition to, such other pension supplement as may be provided by such other
agreement. In the event that no election is made, the Participant shall forego
his or her right to receive the pension supplement provided under this
subparagraph;

     (d) the Company shall transfer to the Participant, all right, title or other
ownership interest it may have in any automobile, if any, then being provided by
the Company for use by the Participant;

     (e) the Company shall transfer to the Participant, any right, title or
ownership in any club memberships provided by the Company;

     The amounts provided for in Section 4.2(a), (c), (d) and (e) shall be paid or
transferred within thirty (30) days after the Executive Employee’s termination

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of employment. The Participant shall not be required to mitigate the amount of any
payment provided for in this Plan by seeking other employment or otherwise and no
such payment shall be offset or reduced by the amount of any compensation or
benefits provided to the Executive Employee in any subsequent employment. If a
Participant is a “specified employee” as defined in Section 409A(a)(2)(B)(i) of
the Internal Revenue Code of 1986, as amended (“Code”) (“Specified Employee”),
then any severance pay which is not otherwise exempt from Section 409A of the Code
shall be paid during a 30-day period which commences on the date which is the day
after the six-month anniversary of such Specified Employee’s Termination Date.”

2. Section 6.1(a) is hereby amended in its entirety to read as follows:

     “6.1 Gross-Up Payment

     In the event it shall be determined that any payment or distribution of any
type by the Company to or for the benefit of the Participant, whether paid or
payable or distributed or distributable pursuant to the terms of this Plan or
otherwise (the “Total Payments”), would be subject to the excise tax imposed by
Section 4999 of the Code or any interest or penalties with respect to such excise
tax (such excise tax, together with any such interest and penalties, are
collectively referred to as the “Excise Tax”), then the Participant shall be
entitled to receive an additional payment (a “Gross-Up Payment”) in an amount such
that after payment by the Participant of all taxes (including any interest or
penalties imposed with respect to such taxes), including any Excise Tax, imposed
upon the Gross-Up Payment, the Participant retains an amount of the Gross-Up
Payment equal to the Excise Tax imposed upon the Total Payments. Payment of the
Gross-Up Payment shall be made in accordance with Section 6.3, provided that the
payment of any Gross-Up Payment shall be made prior to the date the Participant is
to remit the Excise Tax as provided under the Code or pursuant to any judgment or
agreement with any taxing authority.”

     IN WITNESS WHEREOF, this amendment has been executed by the undersigned, thereunto duly
authorized, effective as of January 1, 2007.

	 	 	 	 	 
	 	EL PASO CORPORATION

 	 
	 	By:  	     /s/ Susan B. Ortenstone
 	 
	 	 	 	 
	 	 	 	 
	 

	 	 	 	 	 
	ATTEST:	 	 
	 	 	 	 	 
	By:
	 	/s/ Marguerite Woung-Chapman
 

	 	 
	 	 	Corporate Secretary                    	 	 

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