Document:

exv10w2

 

Exhibit 10.2

	 	 	 
	William L. Transier

Chairman of the Board, President & 
Chief Executive Officer

(713) 307-8730 Phone

(713) 307-8793 Fax

	 	

September 25, 2007

Mr. John G. Williams

9102 Hudson Court

Houston, Texas 77024

Dear John,

Endeavour International Corporation is pleased to offer you a position as Executive Vice President,
Exploration, based out of our office in London, reporting to me. The start date will be October 1,
2007. You will be considered an expatriate and will be eligible for expatriate benefits in
accordance with company policy.

For payroll and benefit purposes, you will be an employee of ADP TotalSource, a preferred-employer
organization that provides human resources services to Endeavour. The purpose of this letter is to
describe your compensation and benefits, and to document the terms and conditions of your position.

BASE COMPENSATION – Your base cash compensation will be $33,333.34 per month. During the
course of your assignment you will be eligible for base salary increases, performance bonuses,
equity grants or other forms of compensation. Such compensation is subject to board approval based
on company and personal performance. As an expatriate, you will receive a cost of leaving
allowance based on your salary level and family status.

EQUITY AWARD AT EMPLOYMENT – Upon your employment and following board approval, you will
receive inducement grants of 400,000 shares of restricted stock and an award of 200,000 stock
options will vest in one-third increments over a three-year period from the issue date. At the
vesting date, the value of the shares is treated as compensation subject to taxation. If your
employment is terminated or you elect to leave the company before the vesting date of the shares,
you forfeit the right to these awards.

BENEFITS COVERAGE – You will be eligible for U.S. benefits on the first of the month
following 30 days of employment. Based on a hire date of October 1, 2007, you will be eligible for
benefit coverage on November 1, 2007. The U.S. benefit package includes group medical, dental,
vision, long-term disability and life insurance coverage. In addition, you will be covered under
our private medical insurance policy in the United Kingdom.

On the Quest for Energy

Endeavour International Corporation      1000 Main Street, Suite 3300, Houston, Texas 77002       713-307-8700       www.endeavourcorp.com

 

 

RELOCATION – Endeavour will provide relocation benefits to you in accordance with the
company’s relocation policy. This will include home sale assistance, shipment of personal and
household goods, furnished housing and paid utilities, cost-of-living adjustment, tax equalization
and tax preparation services, immigration documents and an annual home visit.

VACATION — You qualify for four weeks of vacation each year consistent with company
policies.

John, we look forward to having you as a member of the Endeavour executive team. We are confident
that your experience and knowledge will be an asset to the organization. Please feel free to
contact Janice White at (713) 307-8780 or me if you have any questions.

Sincerely,

/s/ William L. Transier

William L. Transier

Chairman, Chief Executive Office and President

On the Quest for Energy

Endeavour International Corporation      1000 Main Street, Suite 3300, Houston, Texas 77002       713-307-8700       www.endeavourcorp.comexv10w1

 

Exhibit 10.1

     COMMITMENT INCREASE AGREEMENT dated as of September 25, 2007, among SYSCO
CORPORATION (the “Company”), the INCREASING LENDERS party hereto and
JPMORGAN CHASE BANK, N.A., as U.S. administrative agent (the “U.S.
Administrative Agent”) under the Credit Agreement referred to below.

     Reference is made to the Credit Agreement dated as of November 4, 2005 (the “Credit
Agreement”), among the Company, SYSCO International, Co., the lenders party thereto, the U.S.
Administrative Agent and JPMorgan Chase Bank, N.A, Toronto Branch, as Canadian Administrative
Agent. Capitalized terms used and not defined herein have the meanings specified in the Credit
Agreement.

     The Company has notified the U.S. Administrative Agent in accordance with Section 2.20 of the
Credit Agreement of its request that the U.S. Commitments be increased by US$250,000,000, and the
Persons identified on Schedule I hereto (the “Increasing Lenders”) have agreed to provide
such increased U.S. Commitments in the respective amounts set forth on Schedule I hereto for each
such Increasing Lender. The Increase Effective Date of the Commitment Increase contemplated hereby
is scheduled to occur on September 25, 2007, and the parties hereto are entering into this
Agreement in order to provide for such Commitment Increase.

     NOW, THEREFORE, the parties hereto hereby agree as follows:

     SECTION 1. On and as of September 25, 2007, the U.S. Commitment and each Increasing Lender
shall be increased by the amount set forth with respect to such Increasing Lender on Schedule I
hereto, subject to satisfaction of the conditions referred to in Section 2 below.

     SECTION 2. The Commitment Increase provided for herein shall be subject to the satisfaction
of the conditions set forth in Section 2.20(d) of the Credit Agreement.

     SECTION 3. (a) Notices hereunder shall be given as provided in the Credit Agreement.

     (b) This Agreement may not be waived, amended or modified in except pursuant to an agreement
or agreements in writing entered into by all parties hereto.

     (c) This Agreement constitutes an amendment to the Credit Agreement and, accordingly, Section
10.03 of the Credit Agreement shall apply hereto.

     (d) This Agreement may be executed in counterparts (and by different parties hereto on
different counterparts), each of which shall constitute an original, but all of which when taken
together shall constitute a single contract. Delivery of an executed counterpart of a signature
page of this Agreement by telecopy shall be effective as delivery of a manually executed
counterpart of this Agreement.

 

 

     (e) This Agreement shall be construed, and the rights of the parties determined, in accordance
with and governed by the law of the State of New York.

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their
respective authorized officers as of the day and year first above written.

	 	 	 	 	 	 	 
	 	SYSCO CORPORATION,	 	 
	 
	 	 	 	 	 	 
	 

	 	by	 	 	 	 
	 

	 	 	 	 

Name: Kathy Oates Gish
	 	 
	 

	 	 	 	Title: Vice President and Assistant Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	JPMORGAN CHASE BANK, N.A.,

individually and as U.S.
Administrative Agent,	 	 
	 
	 	 	 	 	 	 
	 

	 	by	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name: Christine Herrick	 	 
	 

	 	 	 	Title: Vice President	 	 

 

 

	 	 	 	 	 	 	 
	 	 	SIGNATURE PAGE TO THE COMMITMENT INCREASE
AGREEMENT AMONG SYSCO CORPORATION, THE INCREASING
LENDERS PARTY HERETO AND JPMORGAN CHASE BANK,
N.A., AS U.S. ADMINISTRATIVE AGENT,	 	 
	 
	 	 	 	 	 	 
	 	 	Name of Institution:	 	 
	 
	 	 	 	 	 	 
	 

	 	by	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

 

 

SCHEDULE I

	 	 	 	 	 
	Increasing Lender	 	U.S. Commitment Increase Amount	 
	JPMorgan Chase Bank, N.A.
	 	$	25,000,000	 
	Bank of America, N.A.
	 	$	25,000,000	 
	Barclays Bank PLC
	 	$	25,000,000	 
	The Bank of Tokyo-Mitsubishi UFJ, Ltd.
	 	$	25,000,000	 
	Wachovia Bank, National Association
	 	$	25,000,000	 
	Wells Fargo Bank N.A.
	 	$	25,000,000	 
	Toronto-Dominion (Texas) LLC
	 	$	25,000,000	 
	Branch Banking and Trust Company
	 	$	22,500,000	 
	Comerica Bank
	 	$	12,500,000	 
	PNC Bank, National Association
	 	$	12,500,000	 
	William Street Commitment Corporation
	 	$	12,500,000	 
	The Northern Trust Company
	 	$	10,000,000	 
	Zions First National Bank
	 	$	5,000,000	 
	 
	 	 	 
	 
	 	$	250,000,000exv10w2

 

Exhibit 10.2

EXTENSION AGREEMENT

JPMorgan Chase Bank, N.A.,

   As U.S. Administrative Agent

   under the Credit Agreement

   referred to below

270 Park Avenue

New York, NY 10017

Gentlemen:

     The undersigned hereby agrees to extend, effective September 21, 2007, the Maturity Date under
the Credit Agreement dated as of November 4, 2005 (as amended from time to time, the “Credit
Agreement”) among SYSCO Corporation, a Delaware corporation (the “Company”), SYSCO International,
Co., the Lenders party thereto, JPMorgan Chase Bank, N.A., as U.S. Administrative Agent (the “U.S.
Administrative Agent”), JPMorgan Chase Bank, N.A., Toronto Branch, as Canadian Administrative
Agent, for one year to November 4, 2012. Terms defined in the Credit Agreement are used herein
with the same meaning.

     This Extension Agreement shall be construed in accordance with and governed by the laws of the
State of New York.

	 	 	 	 	 
	 	Lender:

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	Agreed and accepted:	 	 
	 
	 	 	 	 
	SYSCO CORPORATION	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 
	 
	 	 	 	 
	JPMORGAN CHASE BANK, N.A., as U.S.

    Administrative Agent	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:exv10w3

 

Exhibit 10.3

THIRD AMENDMENT TO

THE SIXTH AMENDED AND RESTATED

SYSCO CORPORATION

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

     THIS THIRD AMENDMENT TO THE SIXTH AMENDED AND RESTATED SYSCO CORPORATION SUPPLEMENTAL
EXECUTIVE RETIREMENT PLAN (this “Amendment”).

     WHEREAS, Sysco Corporation (the “Company”) has adopted that certain Sixth Amended and
Restated Sysco Corporation Supplemental Executive Retirement Plan (the “Plan”) pursuant to
a plan document effective generally as of January 1, 2005; and

     WHEREAS, the Board of Directors of the Company has determined to amend the Plan to change its
definition of “Eligible Earnings” to exclude any amounts payable to participants under the Sysco
Corporation 2006 Supplemental Performance Based Bonus Plan and certain additional bonuses paid to
participants under the fiscal incentive programs of the Sysco Corporation Management Incentive
Plan.

     NOW, THEREFORE, the Plan is hereby amended as follows, effective as of July 1, 2007:

     (Capitalized terms used but not otherwise defined herein shall have the meaning given them in the
Plan.)

     1. Article I of the Plan is hereby amended by deleting the definition of
“Eligible Earnings” in its entirety and replacing it with the following:

Eligible Earnings. “Eligible Earnings” means:

          (a) (i) the salary, plus (ii) any amount under the Management Incentive
Plan, that is paid to a Participant by the Company with respect to a given
Plan Year ending prior to July 3, 2005 (including any amount deferred under
the Sysco Corporation Executive Deferred Compensation Plan).

          (b) (i) the salary, plus (ii) any amount under the Management Incentive
Plan, that is paid to a Participant by the Company with respect to a given
Plan Year ending after July 2, 2005 but ending prior to July 1, 2007
(including any amounts deferred under the Sysco Corporation Executive
Deferred Compensation Plan, and excluding any amounts related to “Additional
Shares” or “Additional Cash Bonus” (as such terms are defined in the
Management Incentive Plan)); and (iii) any amount under the Sysco
Corporation 2006 Supplemental Performance Based Bonus Plan, as may be
amended from time to time, and any successor plan, that is paid to a
Participant by the Company with respect to a given Plan Year ending after
July 1, 2006 but ending prior to July 1, 2007.

          (c) (i) the salary, plus (ii) any amount under the Management Incentive
Plan, that is paid to a Participant by the Company with respect to a given
Plan Year ending after June 30, 2007 (including any amount deferred under
the Sysco Corporation Executive Deferred Compensation Plan, and excluding
any amounts related to “Additional Shares” or the MIP Additional Bonuses).

          (d) Notwithstanding (a), (b), and (c), above, for purposes of
calculating a Protected Participant’s Protected Benefit, “Eligible Earnings”
shall have the meaning set forth in (a), above, except that (i) the Plan
Year date restrictions set forth therein shall not apply (i.e., the Eligible
Earnings definition set forth in (a) shall apply without regard to when such
amounts were paid or earned); and (ii) for Plan Years ending after June 30,
2007, “Eligible Earnings” shall exclude amounts related to the MIP
Additional Bonuses.

 

 

     2. Article I of the Plan is hereby amended by addition of the following definition of MIP
Additional Bonuses.

     “MIP Additional Bonuses.” “MIP Additional Bonuses” means the
sum of those certain additional bonuses payable to participants under the
Management Incentive Plan pursuant to the fiscal year incentive programs
under the Management Incentive Plan, more specifically referred to as the
“Big 5 Enterprise Bonus”, the “Organizational Alignment Bonus Program”, the
“Additional Bonus for Management Development” and the “Additional Bonus for
Foldout Company Support” or any similar bonus program adopted by the Company
under the Management Incentive Plan. For purposes of this definition, MIP
Additional Bonuses shall include amounts paid to participants in the
Management Incentive Plan in addition to their regular Management Incentive
Plan bonuses and shall not include reductions in a Management Incentive Plan
participant’s regular Management Incentive Plan bonuses as a result of a
Participant’s performance for such fiscal year being below expectations.

     3. Except as specifically amended hereby, the Plan shall remain in full force and effect as
prior to this Amendment.

     IN WITNESS WHEREOF, the Company has caused this Third Amendment to be executed this 28th day
of September, 2007 effective as of the 1st day of July, 2007.

	 	 	 	 	 	 	 
	 	 	SYSCO CORPORATION
	 
	 

	 	By:

Name:

Title:
	 	/s/ Michael C. Nichols
 

Michael C. Nichols 

Sr. Vice President, General Counsel and Secretary
	 	 

	 	 	 	 	 
	ATTEST:	 	 
	 
	 	 	 	 
	By: 

Name: 

Title:

	 	/s/ Thomas P. Kurz
 

Thomas P. Kurz 

Assistant Vice President and
Deputy General Counsel
	 	 

2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00132-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00132-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00132-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00132-of-00352.parquet"}]]