Document:

Exhibit 10.2

 

AMENDMENT TO

MAGNUM HUNTER RESOURCES, INC. OUTSIDE DIRECTOR POLICY

 

I.              RECITALS

 

Magnum Hunter Resources, Inc. (“Magnum Hunter”)
adopted an Outside Director Policy, effective as of December 1, 2004 (the “Policy”).

 

The Policy provides that if there is a Change in Control
(as defined in the Policy) of Magnum Hunter, the members of Magnum Hunter’s
Board of Directors who are outside or disinterested directors would receive
specified payments.

 

The American Jobs Creation Act of 2004 added new section 409A
to the Internal Revenue Code of 1986, as amended (the “Code”), which became
effective January 1, 2005 and provides in part that a key employee (as
defined in the Code) of a public company will be subject to additional taxes
and penalties if certain payments are made to the key employee earlier than six
(6) months after the key employee ceases performing services.

 

Cimarex Energy Co., Cimarex Nevada Acquisition Co., and
Magnum Hunter have entered into that certain Agreement and Plan of Merger among
Cimarex Energy Co., Cimarex Nevada Acquisition Co., and Magnum Hunter dated as
of January 25, 2005, and the consummation of the transactions contemplated
by that agreement will constitute a Change in Control with respect to Magnum
Hunter as currently defined in the Agreement and under new Section 409A of
the Code.

 

The Internal Revenue Service has issued transitional
guidance under Code section 409A that permits arrangements such as the
Policy to be amended to comply with the requirements of Code section 409A.

 

Because it is not clear whether all of the persons who may
receive payments under the Policy are not “key employees,” Magnum Hunter has
determined that it should amend the provisions of the Policy relating to the
events upon which certain payments will be made under the Policy with the
intent of making the payments in a manner that will not trigger the additional
taxes and penalties under Code section 409A.

 

II.            AMENDMENT TO POLICY

 

2.1          Amendment to Definition of Change in Control.  The definition of Change in Control in Section 1.1
shall be amended in its entirety to provide as follows:

 

“Change in Control” shall be
defined in accordance with Treasury guidance and Regulations related to Section 409A
of the Code, including but not limited to Notice 2005-1.  Notwithstanding the foregoing, the
consummation of the transactions contemplated by that certain Agreement and
Plan of Merger among Cimarex Energy Co., Cimarex Nevada Acquisition Co., and
Magnum Hunter Resources, Inc. dated as of January 25, 2005, as amended
(the “Merger Agreement”), will constitute a “Change in Control” with respect to
Magnum Hunter within the meaning of Code section 409A for purposes of this
Policy.

 

2.2          Amendment to Section III of the
Policy.  Section III of the Policy shall be deleted and
replaced with the following:

 

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III.           PAYMENTS FOLLOWING CHANGE IN
CONTROL

 

3.1           Payment to
Director.  If a Change
in Control occurs, each Director shall be entitled to compensation in the
amount of two times the then current annual retainer fee. Such compensation
includes both cash compensation, deferred compensation, and the value of any
compensation paid otherwise than in cash, except for options governed by Section 3.2.  The payment to be made to each Director upon
the consummation of the transactions contemplated by the Merger Agreement is
set forth in Section 5.16(g) of the Company Disclosure Schedule to
the Merger Agreement.

 

3.2           Grant of
Options.  If the Director is entitled to
payments under Section 3.1, all unvested stock options will immediately be
vested.  Upon the occurrence of the
Change in Control, the Director will receive a lump sum cash payment no later
than the day after the date on which the closing of the Change in Control
occurs equal to the product of (a) the number of shares of Magnum Hunter
common stock subject to each option held by the Director immediately before the
Change in Control and (b) the excess, if any, of the closing price of the
Magnum Hunter common stock on the day before the closing of the transaction
that constitutes the Change in Control over the exercise price per share of the
option.  If the exercise price of an
option exceeds the closing price of the Magnum Hunter common stock on the day
before the closing of the transaction that constitutes the Change in Control,
the Director will not receive a payment with respect to that option.

 

III.           INTENT OF THE COMPANY

 

It is the intent of the Company that this Amendment to the
Policy be construed and administered in a manner that is consistent with the
requirements of Code section 409A and the regulations and other guidance
published thereunder.

 

IV.           EFFECTIVENESS OF POLICY

 

Except as modified by this Amendment, all terms and
conditions of the Policy remain unamended and shall remain in full force and
effect.

 

 

Effective as of June 7, 2005

 

2Exhibit 10.1

 

CARREKER CORPORATION

THIRD AMENDED AND RESTATED

1994 LONG TERM INCENTIVE PLAN

 

Restricted Stock Agreement

Option
Grant Number              

 

                This
Agreement (“Agreement”) is dated this                  
day of                               
by and between Carreker Corporation, a Delaware corporation (the “Company”) and
                   
(“Employee”).

 

 

                WHEREAS, the
Company maintains the Carreker Corporation Third Amended and Stated 1994 Long
Term Incentive Plan (“Plan”) under which the Company’s Compensation Committee
of the Board of Directors (the “Committee”) may, among other things, award
shares of the Company’s Common Stock (“Stock”) to such members of the Company’s
management team as the Committee may determine, subject to terms, conditions,
or restrictions as it may deem appropriate;

 

                WHEREAS, pursuant
to the Plan, the Committee has awarded to the Award Recipient a restricted
stock award conditioned upon the execution by the Company and the Award
Recipient of a Restricted Stock Agreement setting forth all the terms and
conditions applicable to such award in accordance with Part IV of the Plan;

 

                NOW, THEREFORE, in
consideration of the mutual promises and covenants contained herein, it is
hereby agreed as follows:

 

                                                1.     Award of Shares.  Under the terms of the Plan, the Committee
has awarded to the Award Recipient a restricted stock award on                           (“Award
Date”), covering                  
shares of Stock subject to the terms, conditions and restrictions set forth in
this Agreement.

 

2.               Award Restrictions.  The Stock covered by this restricted stock
award shall vest and be freely transferable by the Award Recipient as follows

 

(a)          The Award shall vest with respect to                           
(33.33%) one-third on the third anniversary date of
this Agreement,

 

(b)         The Award shall vest with respect to an additional                  
(33.33%) one-third on the fourth anniversary date of this Agreement,

 

(c)          The Award shall vest with respect to the remaining                            (33.33%)l
one-third on the fifth anniversary date of this Agreement.

 

 

Upon the vesting of the restricted stock award by virtue of the lapse
of the restriction period set forth above or under Paragraphs 4 or 6 of this
Agreement, the Company shall cause a stock certificate covering the requisite
number of shares to be delivered to the Award Recipient or beneficiary(ies)
within 30 days after vesting.

 

During the restriction period, the shares covered by the restricted
stock award are not transferable by the Award Recipient by means of sale,
assignment, exchange, pledge, or otherwise. However, during the restriction
period, the Award Recipient does have the right to tender for sale or exchange
with the Company’s written consent any such shares in the event of any tender
offer within the meaning of Section 14(d) of the Securities Exchange Act of
1934.

 

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3.               Stock Certificates.  The stock certificate(s) evidencing the
restricted stock award shall be registered on the Company’s books in the name
of the Award Recipient as of the Award Date. 
The Company shall retain physical possession or custody of such stock
certificate(s) until such time as the shares are vested (i.e., the restriction
period lapses).  While in its possession,
the Company reserves the right to place a legend on the stock certificate(s)
restricting the transferability of such certificate(s) and referring to the
terms and conditions (including forfeiture) approved by the Committee and applicable
to the shares represented by the certificate(s).

 

4.               Termination of
Employment.  If the Award
Recipient terminates employment with the Company due to death or disability
during the restriction period, the restricted stock award shall vest in full as
of the date of such termination.  If the
Award Recipient’s employment with the Company terminates under special
circumstances determined by the Committee, the restricted stock award may be
forfeited (or may be vested in full or in part) as determined by the
Committee.  Termination of the Award
Recipient’s employment with the Company for any other reason during the
restriction period shall result in forfeiture of the restricted stock award on
the date of termination.  The Award
Recipient may designate a beneficiary(ies) to receive
the stock certificate representing any restricted stock award automatically
vested upon death.  The Award Recipient
has the right to change such beneficiary designation at will.

 

5.               Withholding Taxes.  The Company shall have the right to retain
and withhold from any payment to an Award Recipient the amount of taxes
required by any government to be withheld or otherwise deducted and paid with
respect to the restricted stock award. 
At its discretion, the Company may require an Award Recipient receiving
shares of Stock under a restricted stock award to reimburse the Company for any
such taxes required to be withheld by the Company and withhold any distribution
in whole or in part until the Company is so reimbursed.  In lieu thereof, the Company shall have the
right to withhold from any other cash amounts due or to become due from the
Company to the Award Recipient an amount equal to such taxes required to be
withheld by the Company to reimburse the Company for any such taxes or retain and
withhold a number of shares having a market value not less than the amount of
such taxes and cancel (in whole or in part) any such shares so withheld in
order to reimburse the Company for any such taxes.

 

6.               Capital Transaction.  The restrictions on the shares awarded under
this Agreement shall immediately lapse on the occurrence of a Capital
Transaction, as that term is defined in the Plan.

 

7.               Administration.  The Committee shall have full authority and
discretion, (subject only to the express provisions of the Plan) to decide all
matters relating to the administration and interpretation of the Plan and this
Agreement.  All such Committee
determinations shall be final, conclusive, and binding upon the Company, the
Award Recipient, and any and all interested parties.

 

8.               Right to Continued
Employment.  Nothing in the
Plan or this Agreement shall confer on an Award Recipient any right to continue
in the employ of the Company or in any way affect the Company’s right to
terminate the Award Recipient’s employment without prior notice at any time.

 

9.               Amendment(s).  This Agreement shall be subject to the terms
of the Plan as amended except that the restricted stock award that is the
subject of this Agreement may not in any way be restricted or limited by any Plan
amendment or termination approved after the date of the award without the Award
Recipient’s written consent.

 

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10.         Force and Effect.  The various provisions of this Agreement are
severable in their entirety.  Any
determination of in validity or unenforceability of any one provision shall
have no effect on the continuing force and effect of the remaining provisions.

 

11.         Governing Law.  This Agreement shall be construed and
enforced in accordance with and governed by the laws of the State of Delaware.

 

12.         Successors.  This Agreement shall be binding upon and
inure to the benefit of the successors, assigns, and heirs of the respective
parties.

 

13.         Notices.  Unless waived by the Company, any notice to
the Company required under or relating to this Agreement shall be in writing
and addressed to:           Carreker
Corporation, 4005 Valley View Lane, Suite 1000, Dallas, Texas 75244, ATTN:  General Counsel.

 

14.         Entire Agreement.  This Agreement contains the entire understanding
of the parties and shall not be modified or amended except in writing and duly
signed by the parties.  No waiver by
either party of any default under this Agreement shall be deemed a waiver of
any later default.

 

.

 

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

 

 

	
   

  	
  CARREKER
  CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  EMPLOYEE

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Signature

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  (Print Name)

  

 

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