Document:

Consent letter of DeGolyer and MacNaughton

 Exhibit 10.1 
  
 DEGOLYER AND MACNAUGHTON 
 4925 GREENVILLE AVENUE, SUITE 400 
 ONE ENEROY SQUARE 
 DALLAS, TEXAS
75206 
  
 April 28, 2005 
  
 Petróleo Brasileiro S.A. 
 Av. República do Chile, 65/1702 
 Rio de Janeiro 
 Brasil 20035-900 
  
 Gentlemen: 
  
 We hereby consent to the references to our firm as set forth in the Annual
Report on Form 20-F of Petróleo Brasileiro S.A. (Petrobras) for the year ended December 31, 2004, under the heading “Item 4 - INFORMATION ON THE COMPANY - Exploration, Development and Production - WORLDWIDE ESTIMATED NET PROVED
RESERVES.” We prepared estimates, as of December 31, 2004, of the proved crude oil, condensate, and natural gas reserves and the oil equivalent of 68 fields with interests owned by Petrobras. These estimates were prepared in accordance with the
reserves definitions of Rules 4-10(a) (1)-(13) of Regulation S-X of the United States Securities and Exchange Commission. The fields are located in Brazil and offshore from Brazil, The volumes of proved reserves estimated, as of December 31, 2004
are 8,462 million barrels of oil and condensate; 6,652,921 million cubic feet of marketable gas and 9,570 million barrels of oil equivalent. These estimates and the fields evaluated are those contained in our report entitled “Letter Report as
of December 31, 2004 on Reserves of Certain Properties in Brazil with interests owned by Petroleo Brasileiro S.A.” 
  

	
	Very truly yours,
	
	

	 DeGOLYER and MacNAUGHTONSenior Management Change in Control Severance Policy

 Exhibit 10.1 
  
 RED HAT, INC. 
  
 Senior Management Change in Control Severance Policy 
  
 (Effective June 27, 2005) 
  
 1. Purpose 
  
 The purpose of this Senior Management Change in Control Severance Policy (the “Policy”) is to diminish the distraction of Covered Executives (as
defined below) in the event of a threatened or pending Change in Control (as defined below) and to provide financial assistance to any Covered Executive whose employment with Red Hat, Inc. or any of its subsidiaries (the “Company”) is
terminated under certain circumstances following such a Change in Control. 
  
 2. Eligibility for Severance Benefits 
  
 (a) A Covered Executive shall qualify for severance benefits under this Policy if within one year after a Change in Control (as defined below) the Covered Executive is terminated from employment by the Company without
Good Cause (as defined below) or the Covered Executive voluntarily resigns from the Company for Good Reason (as defined below). 
  
 (b) For purposes of this Policy, a Covered Executive shall be any employee of the Company who at the occurrence of the Change in Control (i) is a direct
report to the Company’s Chief Executive Officer (or, if it is so determined by the Board of Directors of Red Hat, Inc. (the “Board”), any employee of the Company at the occurrence of the Change in Control who was within the one-year
period prior to the Change in Control such a direct report) and (ii) who is not covered under any individual employment agreement (other than a stock option or restricted stock agreement) that provides special cash benefits following such a Change
in Control. 
  
 (c) For purposes of this Policy, Good Cause means
conduct involving one or more of the following: 
  
 (i) the
conviction of the Covered Executive of, or plea of nolo contendere by the Covered Executive to, a felony or misdemeanor involving moral turpitude; 
  
 (ii) the indictment of the Covered Executive for a felony or misdemeanor involving moral turpitude under the federal securities laws; 
  
 (iii) the willful misconduct or gross negligence by the Covered Executive
resulting in material harm to the Company; 
  
 (iv) fraud,
embezzlement, theft or dishonesty by the Covered Executive against the Company or any subsidiary, or willful violation by the Covered Executive of a policy or procedure of the Company, resulting in any case in material harm to the Company; or

 (v) the Covered Executive’s material breach of any term of any agreement with the Company,
including, without limitation, any violation of confidentiality and/or non-competition agreements. 
  
 (d) For purposes of this Policy, Good Reason means: 
  
 (i) a reduction by the Company or its successor of more than 10% in the Covered Executive’s rate of annual base salary as in effect immediately prior
to such Change in Control; 
  
 (ii) a reduction by the Company or
its successor of more than 10% of the Covered Executive’s individual annual target or bonus opportunity, except under circumstances where the Company or its successor implement changes to the bonus structure of similarly situated executives,
including but not limited to changes to the bonus structure designed to integrate the Company’s personnel with other personnel of the Surviving Corporation (as defined below); 
  
 (iii) a significant and substantial reduction by the Company or its successor of the Covered Executive’s
responsibilities and authority, as compared with the Covered Executive’s responsibilities and authority in effect immediately preceding the Change in Control; or 
  
 (iv) any requirement of the Company that the Covered Executive be based anywhere more than fifty (50) miles from the Covered
Executive’s primary office location at the time of the Change in Control. 
  
 3. Change in Control 
  
 For purposes of this Policy, a Change in Control means the occurrence of any one of the following events: 
  
 (a) individuals who, on the date of adoption of this Policy by the Board,
constitute the Board (the “Incumbent Directors”) cease for any reason to constitute at least a majority of the Board, provided that any person becoming a director subsequent to the date of adoption of this Policy by the Board whose
election or nomination for election was approved by a vote of at least a majority of the Directors then on the Board (either by a specific vote or by approval of the proxy statement of the Company in which such person is named as a nominee for
director, without written objection to such nomination) shall be an Incumbent Director; provided, however, that no individual initially elected or nominated as a director of the Company as a result of an actual or threatened election contest with
respect to directors or as a result of any other actual or threatened solicitation of proxies by or on behalf of any person other than the Board shall be deemed to be an Incumbent Director; 
  
 (b) any “person” (as such term is defined in the Exchange Act and
as used in Sections 13(d)(3) and 14(d)(2) of the Exchange Act) is or becomes a “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 35% or more of the
combined voting power of the Company’s then outstanding securities eligible to vote for the election of the Board (the “Company Voting Securities”); 

  

 - 2 - 

 
provided, however, that the event described in this paragraph (b) shall not be deemed to be a Change in Control by virtue of any of the following
acquisitions: (A) by the Company or any subsidiary, (B) by any employee benefit plan (or related trust) sponsored or maintained by the Company or any subsidiary, (C) by any underwriter temporarily holding securities pursuant to an offering of such
securities, (D) pursuant to a Non-Qualifying Transaction, as defined in paragraph (c), or (E) by any person of Voting Securities from the Company, if a majority of the Incumbent Board approves in advance the acquisition of beneficial ownership of
35% or more of Company Voting Securities by such person; 
  
 (c)
the consummation of a merger, consolidation, statutory share exchange, reorganization or similar form of corporate transaction involving the Company or any of its subsidiaries that requires the approval of the Company’s stockholders, whether
for such transaction or the issuance of securities in the transaction (a “Business Combination”), unless immediately following such Business Combination: (A) more than 40% of the total voting power of (x) the corporation resulting from
such Business Combination (the “Surviving Corporation”), or (y) if applicable, the ultimate parent corporation that directly or indirectly has beneficial ownership of 100% of the voting securities eligible to elect directors of the
Surviving Corporation (the “Parent Corporation”), is represented by Company Voting Securities that were outstanding immediately prior to such Business Combination (or, if applicable, is represented by shares into which such Company Voting
Securities were converted pursuant to such Business Combination), and such voting power among the holders thereof is in substantially the same proportion as the voting power of such Company Voting Securities among the holders thereof immediately
prior to the Business Combination, (B) no person (other than any employee benefit plan (or related trust) sponsored or maintained by the Surviving Corporation or the Parent Corporation), is or becomes the beneficial owner, directly or indirectly, of
35% or more of the total voting power of the outstanding voting securities eligible to elect directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation) and (C) at least half of the members of the board of
directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation) following the consummation of the Business Combination were Incumbent Directors at the time of the Board’s approval of the execution of the
initial agreement providing for such Business Combination (any Business Combination which satisfies all of the criteria specified in (A), (B) and (C) above shall be deemed to be a “Non-Qualifying Transaction”); 
  
 (d) the stockholders of the Company approve a plan of complete liquidation or
dissolution of the Company or the consummation of a sale of all or substantially all of the Company’s assets; or 
  
 (e) the occurrence of any other event that the Board determines by a duly approved resolution constitutes a Change in Control. 
  
 Notwithstanding the foregoing, a Change in Control shall not be deemed to
occur solely because any person acquires beneficial ownership of more than 35% of the Company Voting Securities as a result of the acquisition of Company Voting Securities by the Company which reduces the number of Company Voting Securities
outstanding; provided, that if after such acquisition by the Company such person becomes the beneficial owner of additional Company Voting Securities that increases the percentage of outstanding Company Voting Securities beneficially owned by such
person, a Change in Control of the Company shall then occur. 
  

 - 3 - 

 4. Computation of Severance Benefit 
  
 If a Covered Executive’s employment by the Company shall be terminated
by the Company without Good Cause during the 12-month period following a Change in Control or the Covered Executive voluntarily resigns from the Company for Good Reason during the 12-month period following a Change in Control, the Company shall pay
the Covered Executive a lump sum cash payment within thirty (30) days after such termination equal to two times the sum of (i) the Covered Executive’s current annual base salary plus (ii) an amount equal to the average of the annual bonuses
earned by the Covered Executive during the two previous fiscal years. In addition, the Company shall provide for continuation of the Covered Executive’s and his or her eligible dependents’ coverage under the Company’s welfare benefit
plans (group life insurance, and comprehensive health, major medical, dental, disability plans) as in effect on the date of termination (or, in connection with the Company’s change in benefit plans applicable to employees generally, any
coverage substituted for coverage in which the Covered Executive was enrolled on the date of termination) until the earlier of (a) 24 months following the Covered Executive’s date of termination or (b) the date the Covered Executive or his or
her eligible dependents become eligible for comparable benefits from another employer. The Covered Executive must continue to contribute the employee share of premiums, as from time to time applicable to employees of the Company generally, in order
to continue such coverage. In addition, the Covered Executive shall receive a pro-rata incentive bonus (if any) to which he or she would have been entitled in accordance with the Company’s annual bonus plan calculated through the Covered
Executive’s termination, but based on the targets achieved prior to the Covered Executive’s date of termination. To the extent such targets do not lend themselves to an interim fiscal year calculation, such pro-rata payment shall be deemed
to be no less than the annual target incentive payment, pro-rated for partial fiscal year employment. 
  
 5. Additional Payment 
  
 (a) Gross-Up Payment. In the event that the Covered Executive shall become entitled to payments and/or benefits provided by this Policy or any
other amounts in the nature of compensation (whether pursuant to the terms of this Policy or any other plan, arrangement or agreement with the Company, with any person whose actions result in a change of ownership or effective control covered by
Section 280G(b)(2) of the Internal Revenue Code of 1986, as amended (the “Code”) or with any person affiliated with the Company or such person) as a result of such change in ownership or effective control (collectively the “Company
Payments”), and such Company Payments will be subject to the tax (the “Excise Tax”) imposed by Section 4999 of the Code (and any similar tax that may hereafter be imposed by any taxing authority) the Company shall pay to the Covered
Executive at the time specified in paragraph (d) below an additional amount (the “Gross-up Payment”) such that the net amount retained by the Covered Executive, after deduction of any Excise Tax on the Company Payments and any U.S.
federal, state, and for local income or payroll tax upon the Gross-up Payment provided for by this paragraph 5(a), but before deduction for any U.S. federal, state, and local income or payroll tax on the Company Payments, shall be equal to the
Company Payments. 
  

 - 4 - 

 (b) Determination of Excise Tax Payments. For purposes of determining whether any of the Company
Payments and Gross-up Payments (collectively the “Total Payments”) will be subject to the Excise Tax and the amount of such Excise Tax, (i) the Total Payments shall be treated as “parachute payments” within the meaning of Section
280G(b)(2) of the Code, and all “parachute payments” in excess of the “base amount” (as defined under Section 280G(b)(3) of the Code) shall be treated as subject to the Excise Tax, unless and except to the extent that, in the
opinion of the Company’s independent certified public accountants appointed prior to any change in ownership (as defined under Section 280G(b)(2) of the Code) or tax counsel selected by such accountants (the “Accountants”) such Total
Payments (in whole or in part) either do not constitute “parachute payments,” represent reasonable compensation for services actually rendered within the meaning of Section 280G(b)(4) of the Code in excess of the “base amount” or
are otherwise not subject to the Excise Tax, and (ii) the value of any non-cash benefits or any deferred payment or benefit shall be determined by the Accountants in accordance with the principles of Section 280G of the Code. 
  
 (c) Adjustment of Gross-Up Payments. For purposes of determining the
amount of the Gross-up Payment, the Covered Executive shall be deemed to pay U.S. federal income taxes at the highest marginal rate of U.S. federal income taxation in the calendar year in which the Gross-up Payment is to be made and state and local
income taxes at the highest marginal rate of taxation in the state and locality of the Covered Executive’s residence for the calendar year in which the Company Payment is to be made, net of the maximum reduction in U.S. federal income taxes
which could be obtained from deduction of such state and local taxes if paid in such year. In the event that the Excise Tax is subsequently determined by the Accountants to be less than the amount taken into account hereunder at the time the
Gross-up Payment is made, the Covered Executive shall repay to the Company, at the time that the amount of such reduction in Excise Tax is finally determined, the portion of the prior Gross-up Payment attributable to such reduction (plus the portion
of the Gross-up Payment attributable to the Excise Tax and U.S. federal, state and local income tax imposed on the portion of the Gross-up Payment being repaid by the Covered Executive if such repayment results in a reduction in Excise Tax or a U.S.
federal, state and local income tax deduction), plus interest on the amount of such repayment at the rate provided in Section 1274(b)(2)(B) of the Code. Notwithstanding the foregoing, in the event any portion of the Gross-up Payment to be refunded
to the Company has been paid to any U.S. federal, state and local tax authority, repayment thereof (and related amounts) shall not be required until actual refund or credit of such portion has been made to the Covered Executive, and interest payable
to the Company shall not exceed the interest received or credited to the Covered Executive by such tax authority for the period it held such portion. The Covered Executive and the Company shall mutually agree upon the course of action to be pursued
(and the method of allocating the expense thereof) if the Covered Executive’s claim for refund or credit is denied. 
  
 In the event that the Excise Tax is later determined by the Accountant or the Internal Revenue Service to exceed the amount taken into account hereunder
at the time the Gross-up Payment is made (including by reason of any payment the existence or amount of which cannot be determined at the time of the Gross-up Payment), the Company shall make an additional Gross-up Payment in respect of such excess
(plus any interest or penalties payable with respect to such excess) at the time that the amount of such excess is finally determined. 
  

 - 5 - 

 (d) Payment Date. The Gross-up Payment or portion thereof provided for in paragraph (c) shall be
paid not later than the thirtieth (30th) day following an event occurring which subjects the Covered Executive to the Excise Tax; provided, however, that if the amount of such Gross-up Payment or portion thereof cannot be finally determined on or
before such day, the Company shall pay to the Covered Executive on such day an estimate, as determined in good faith by the Accountant, of the minimum amount of such payments and shall pay the remainder of such payments (together with interest at
the rate provided in Section 1274(b)(2)(B) of the Code), subject to further payments pursuant to paragraph (c), as soon as the amount thereof can reasonably be determined, but in no event later than the ninetieth (90th) day after the occurrence of
the event subjecting the Covered Executive to the Excise Tax. In the event that the amount of the estimated payments exceeds the amount subsequently determined to have been due, such excess shall constitute a loan by the Company to the Covered
Executive, payable on the fifth (5th) day after demand by the Company (together with interest at the rate provided in Section 1274(b)(2)(B) of the Code). 
  
 (e) IRS Controversy. In the event of any controversy with the Internal Revenue Service (or other taxing authority) with regard to the Excise Tax,
the Covered Executive shall permit the Company to control issues related to the Excise Tax (at its expense), provided that such issues do not potentially materially adversely affect the Covered Executive, but the Covered Executive shall control any
other issues. In the event the issues are interrelated, the Covered Executive and the Company shall in good faith cooperate so as not to jeopardize resolution of either issue, but if the parties cannot agree the Covered Executive shall make the
final determination with regard to the issues. In the event of any conference with any taxing authority as to the Excise Tax or associated income taxes, the Covered Executive shall permit the representative of the Company to accompany the Covered
Executive, and the Covered Executive and the Covered Executive’s representative shall cooperate with the Company and its representative. 
  
 (f) Accountant Charges. The Company shall be responsible for all charges of the Accountant. 
  
 (g) Copies of Communications. The Company and the Covered Executive
shall promptly deliver to each other copies of any written communications, and summaries of any verbal communications, with any taxing authority regarding the Excise Tax covered by this section. 
  
 6. Miscellaneous 
  
 (a) Notices. All notices hereunder shall be in writing and shall be
deemed given when sent by certified or registered mail, postage prepaid, return receipt requested, if to the Covered Executive, to the address set forth on the cover sheet or at the most recent address shown on the records of the Company, and if to
the Company, to the Company’s principal office, attention of the Corporate Secretary. 
  
 (b) Amendment and Termination. This Policy and the benefits described herein may be amended or terminated by the Board of the Company at any time; provided, however, that no such amendment or termination shall
take effect earlier than 12 months following the date the 

  

 - 6 - 

 
amendment or termination is adopted by the Board, other than any amendment that is determined by the Board, in its sole discretion, (i) to be necessary or
appropriate to minimize or eliminate adverse tax treatment to Covered Executives under Code Section 409A or otherwise or (ii) to have no material adverse effect on Covered Executives. 
  
 (c) No Mitigation. A Covered Executive shall not be required to mitigate the amount of any payment provided for in
this Policy by seeking other employment or otherwise and shall not be required to offset against such payment any payments he or she may receive from further employment. 
  
 (d) No Fiduciary or Employment Relationship. Nothing contained in this Policy and no action taken pursuant to the
provisions of this Policy shall create or be construed to create a trust of any kind or fiduciary relationship or contract for employment between the Company and any employee, and nothing in this Policy shall affect the right of the Company to
terminate the employment of any employee for any reason whatsoever. 
  
 (e) Delegation. To the extent permitted by applicable law, the Board may delegate any or all of its powers under the Policy to one or more committees or subcommittees of the Board (a “Committee”). All references in the
Policy to the “Board” shall mean the Board or a Committee of the Board to the extent that the Board’s powers or authority under the Policy have been delegated to such Committee. 
  
 (f) Withholding. Any payment provided for hereunder shall be paid net
of any applicable withholding required under foreign, federal, state or local law. 
  
 (g) Conflict with Other Severance Policy or Agreements. Any payments made to a Covered Executive under this Policy shall be in lieu of, and not in addition to, any payments to such Covered Executive under the
Company’s severance policy or any severance agreement. 
  
 (h) Severability. The invalidity, illegality or unenforceability of any provision of this Policy shall in no way affect the validity, legality or enforceability of any other provision. 
  
 (i) Successors and Assigns. This Policy shall be binding upon and
inure to the benefit of the parties hereto and their respective successors and assigns. 
  
 (j) Governing Law. This Policy shall be governed by and interpreted in accordance with the laws of the North Carolina, without giving effect to the principles of the conflicts of laws thereof. 
  

 - 7 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}]]