Document:

Exhibit

Exhibit 10.6

NOBLE ENERGY, INC. 
2017 LONG-TERM INCENTIVE PLAN
RESTRICTED STOCK AWARD NOTICE
[3-YEAR TIME VESTED]

You, the Participant named below, have been awarded the following restricted stock award of shares (the “Restricted Shares”) of Common Stock on the terms and conditions set forth below and in accordance with the Restricted Stock Award Agreement to which this Restricted Stock Award Notice is attached (the “Agreement”) and the Noble Energy, Inc. 2017 Long-Term Incentive Plan (the “Plan”):

Participant Name:    ________________________________

Number of Restricted
Shares Awarded:     ________________________________

Award Date:    ________________________________

		
	Vesting Schedule:
	The Restricted Shares will be subject to a restricted period (the “Restricted Period”) that will commence on the Award Date and end on the third anniversary of the Award Date.  During the Restricted Period, the Restricted Shares will be subject to the restrictions described in the Agreement, provided, however, that the restrictions will be removed as to: 

		
	(i)
	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) on the first anniversary of the Award Date, provided Participant is in the continuous employ or service of Noble Energy, Inc. (“Noble”) or an Affiliate until such date; 

		
	(ii)
	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) on the second anniversary of the Award Date, provided Participant is in the continuous employ or service of Noble or an Affiliate until such date; and 

		
	(iii)
	the remaining Restricted Shares on the third anniversary of the Award Date, provided Participant is in the continuous employ or service of Noble or an Affiliate until such date.  

Please note that this Restricted Stock Award Notice serves as your notice of the Award and is for your personal files.  You are not required to sign and return any documents.  You will be deemed to accept the Award unless you promptly notify the compensation department of Noble in writing that you reject the Award.  By accepting this Award, you are agreeing to be bound by the terms of this Restricted Stock Award Notice, the Agreement and the Plan.
    
NOBLE ENERGY, INC. 
                            

David L. Stover
President and CEO

NOBLE ENERGY, INC.
2017 LONG-TERM INCENTIVE PLAN

RESTRICTED STOCK AWARD AGREEMENT

This Restricted Stock Award Agreement (“Agreement”), made and entered into as of the Award Date (as set forth on the Restricted Stock Award Notice), is by and between Noble Energy, Inc., a Delaware corporation (“Noble”), and the Participant named in the Restricted Stock Award Notice, pursuant to the Noble Energy, Inc. 2017 Long-Term Incentive Plan (the “Plan”).

1.    Restricted Stock Award.  Effective as of the Award Date, Noble hereby awards to Participant, and Participant hereby accepts, a restricted stock award (“Award”) of Restricted Shares on the terms and conditions and subject to the restrictions, including forfeiture, set forth in this Agreement, the Restricted Stock Award Notice and the Plan (including but not limited to the terms relating to Participant’s right to vote the Restricted Shares and right to receive any dividends with respect to the Restricted Shares).  The Restricted Shares will be issued in book-entry or stock certificate form in the name of Participant as of the Award Date and will be held by Noble in escrow for Participant’s benefit as described in the Plan.

2.    Vesting and Forfeiture.

(a)    The Restricted Shares will be subject to restrictions during the Restricted Period in accordance with the Vesting Schedule set forth in the Restricted Stock Award Notice.  Subject to the provisions set forth in the Plan, including terms providing for earlier vesting and removal of the following restrictions in certain circumstances, during the Restricted Period, the Restricted Shares will be subject to being forfeited by Participant to Noble as provided in this Agreement, and Participant may not sell, assign, transfer, discount, exchange, pledge or otherwise encumber or dispose of any of the Restricted Shares, other than by will or pursuant to the applicable laws of descent and distribution.  

(b)    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, that portion of the Restricted Shares, together with any dividends or other distributions with respect to those shares then being held by Noble, will be delivered to Participant free of such restrictions.

(c)    Immediately after termination of Participant’s employment or service with Noble and its Affiliates, (i) all Restricted Shares as to which the restrictions applicable hereunder have not by that time been removed or are not as of such date being removed pursuant to the Restricted Stock Award Notice and this Agreement or the applicable provisions of the Plan will be forfeited (the “Forfeited Shares”) along with any accumulated dividends or distributions with respect to such shares, and neither Participant nor any of his or her heirs, beneficiaries, executors, administrators or other personal representatives will have any rights whatsoever in and to any of the Forfeited Shares or related dividends or distributions, and (ii) all of the Forfeited Shares will automatically revert to Noble at no cost.

3.    Withholding Taxes.

(a)    Participant may elect within 30 days of the Award Date and on notice to Noble to realize income for federal income tax purposes equal to the fair market value of the Restricted Shares on the Award Date.  In such event, Participant will make arrangements satisfactory to Noble or the appropriate Affiliate to pay at such time any federal, state or local taxes required to be withheld with respect to such shares.

(b)    If no election is made by Participant pursuant to Section 3(a) hereof, then upon the termination of the restrictions applicable hereunder to all or any portion of the Restricted Shares, Participant (or in the event of Participant’s death, the administrator or executor of Participant’s estate) will pay to Noble or the appropriate Affiliate, or make arrangements satisfactory to Noble 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.

(c)    Any provision of this Agreement to the contrary notwithstanding, if Participant does not satisfy his or her obligations under paragraphs (a) or (b) of this Section, Noble and its Affiliates will, to the extent permitted by law, have the right to deduct from any payments of any kind otherwise due from the Noble or an Affiliate to or with respect to Participant, 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.

4.    Effect on Employment or Services.  Nothing contained in the Plan or in this Agreement will confer upon Participant any right with respect to the continuation of his or her employment by or service with Noble or an Affiliate, or interfere in any way with the right of Noble or an Affiliate, (subject to the terms of any separate agreement to the contrary) at any time to terminate such employment or service or to increase or decrease the compensation of Participant from the rate in existence at the date of this Agreement.

5.    The Plan and Restricted Stock Award Notice.  The terms and provisions of the Plan and the attached Restricted Stock Award Notice are hereby incorporated into this Agreement as if set forth herein in their entirety.  In the event of a conflict between any provision of this Agreement and the Plan, the provisions of the Plan will control.  Capitalized terms used in this Agreement and not otherwise defined in this Agreement will have the respective meanings assigned to such terms in the Plan.

6.    Assignment/Transferability.  Noble 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 Participant under this Agreement may not be sold, transferred, pledged, exchanged, hypothecated or otherwise disposed of by Participant other than by will or the laws of descent and distribution.  The Committee may issue such instructions to Noble’s transfer agent in connection with the restrictions on transfer of the Restricted Shares as it deems appropriate.  Any certificate for shares of Common Stock issued to Participant pursuant to the Award may include any legend that the Committee deems appropriate to reflect the restrictions on transfer of the Restricted Shares and other restrictions as the Committee may deem advisable as described in the Plan.  Should such shares of Common Stock be represented by book or electronic entry rather than a certificate, the Company may take such steps to restrict transfer of the shares of Common Stock as the Committee considers necessary or advisable to comply with applicable law.

7.    Binding Effect/Governing Law.  This Agreement will be binding upon and inure to the benefit of (i) Noble and its successors and assigns, and (ii) Participant and his or her heirs, devisees, executors, administrators and personal representatives.  This Agreement will be governed by and construed in accordance with the internal laws (and not the principles relating to conflicts of laws) of the State of Texas, except as superseded by federal law.

8.    Compensation Recoupment Policy.  By accepting the Award, Participant hereby acknowledges and agrees that Participant and the Award are subject to Noble’s compensation recoupment policy as contained in Noble’s Code of Conduct (the “Policy”), as amended from time to time, and the terms and conditions of the Policy are hereby incorporated by reference into this Agreement.Exhibit

Exhibit 10.7

NOBLE ENERGY, INC. 
2017 LONG-TERM INCENTIVE PLAN
SUMMARY OF STOCK OPTION AWARD

You, the Participant named below, have been granted the following option (the “Option”) to purchase shares of the common stock (the “Common Stock”), of Noble Energy, Inc., a Delaware corporation (“Noble”), on the terms and conditions set forth below and in accordance with the Stock Option Award Agreement (the “Agreement”) to which this Summary of Stock Option Award is attached and the Noble Energy, Inc. 2017 Long-Term Incentive Plan (the “Plan”):

Participant Name:        ________________________________

Number of Option Shares 
Granted:            ________________________________

Type of Option:                      Nonqualified Stock Option 

Grant Date:    ________________________________

Exercise Price Per Share:    $        

		
	Vesting Schedule:
	The Option will vest over a period of time and shares of Common Stock subject to the Option will become purchasable in installments in accordance with the following schedule:  

		
	(i)
	one third (1/3) of such shares (if a fractional number, then the next lower whole number) will become purchasable on the first anniversary of the Grant Date;

		
	(ii)
	one third (1/3) of such shares (if a fractional number, then the next lower whole number) will become purchasable on the second anniversary of the Grant Date; and 

		
	(iii)
	the remaining shares will become purchasable on the third anniversary of the Grant Date.

Please note that this Summary of Stock Option Award serves as your notice of the Option and is for your personal files.  You are not required to sign and return any documents.  You will be deemed to accept the Option unless you promptly notify the compensation department of Noble in writing that you reject the Option.  By accepting this Award, you are agreeing to be bound by the terms of this Summary of Stock Option Award, the attached Stock Option Award Agreement and the Noble Energy, Inc. 2017 Long-Term Incentive Plan.
    
NOBLE ENERGY, INC. 
                            

David L. Stover
President and CEO

NOBLE ENERGY, INC. 
2017 LONG-TERM INCENTIVE PLAN
STOCK OPTION AWARD AGREEMENT
    
This Stock Option Award Agreement (“Agreement”), made and entered into as of the Grant Date (as set forth on the Summary of Stock Option Award), is by and between Noble Energy, Inc., a Delaware corporation (“Noble”), and the Participant named in the Summary of Stock Option Award pursuant to the Noble Energy, Inc. 2017 Long-Term Incentive Plan (the “Plan”).

1.     Grant of Option.  Effective as of the Grant Date, Noble hereby grants to Participant the right and option (the “Option”) to purchase the number of shares of Common Stock set forth in the Summary of Stock Option Award at the Exercise Price per share set forth on the Summary of Stock Option Award on the terms and conditions set forth in this Agreement, the Summary of Stock Option Award and the Plan.  The Option is intended to be an Incentive Stock Option or a Nonqualified Stock Option, as provided in the Summary of Stock Option Award.

2.    Vesting.  This Option may be exercised only to the extent it is vested on the vesting dates in accordance with the Vesting Schedule set forth in the Summary of Stock Option Award.  The vested percentage indicated in such Vesting Schedule will be exercisable, as to all or part of the vested shares, at any time or times after the respective vesting date and until the expiration or termination of the Option.  The vesting of this Option may be accelerated in certain events as set forth in the Plan.

3.    Term.  

(a)    Term of Option.  This Option may not be exercised after the expiration of ten years from the Grant Date (five years from the Grant Date if the Option is an Incentive Stock Option and Participant owns stock possessing more than 10% of the total combined voting power of all classes of stock of Noble or of its Affiliates, within the meaning of Section 422(b)(6) of the Code, as of the Grant Date).

(b)    Early Termination.  Except as provided in the Plan, this Option may not be exercised unless Participant has been in the continuous employ or service of Noble or any Affiliate from the Grant Date to the date of exercise of the Option; provided, however, that this Option may be exercised after the date of Participant’s termination of employment or service with Noble and its Affiliates in the circumstances described in the Plan. 

(c)    Termination for Cause.  This Option will automatically terminate and be null and void in the event of Participant’s termination for Cause.

4.    Manner of Exercise and Payment.  Participant may exercise any portion of this Option that has become exercisable in accordance with the terms hereof as to all or any of the shares of Common Stock then available for purchase by delivering to Noble written or electronic notice, in a form satisfactory to the Committee, specifying the number of shares as to which the Option is exercised and accompanied by payment of the Exercise Price of such shares in a manner allowed by the Plan.
5.    Withholding Tax.  Promptly after demand by Noble, and at its direction, Participant will pay to Noble or the appropriate Affiliate an amount equal to the applicable withholding taxes due in connection with the exercise of the Option.  In accordance with the Plan, such withholding taxes may be paid in cash or, at the sole discretion of the Committee, in whole or in part, by having Noble withhold from the shares of Common Stock otherwise issuable upon exercise of the Option a number of shares of Common Stock having a value equal to the amount of such withholding taxes or by delivering (either actually or by attestation) to Noble or the appropriate Affiliate a number of previously acquired shares of Common Stock having a value equal to the amount of such withholding taxes.  An election by Participant to have shares withheld or to deliver shares to pay withholding taxes will be made in accordance with administrative guidelines established by the Committee.
6.    Delivery of Shares.  Delivery of the shares representing the shares of Common Stock purchased will be made in certificate or book-entry form and will be made as soon as reasonably practicable after receipt of notice of exercise and full payment of the Exercise Price and any required withholding taxes, provided that Noble will have such time as it reasonably deems necessary to qualify or register such shares on any exchange that it deems desirable or necessary.
7.    Assignment/Transferability.  Noble may assign all or any portion of its rights and obligations under this Agreement.  This Option is not transferable by Participant other than (i) by will or pursuant to the applicable laws of descent and distribution or (ii) if the Option is a Nonqualified Stock, to a Permitted Transferee in accordance with the provisions of the Plan. 
8.    The Plan and Summary of Stock Option Award.  The terms and provisions of the Plan and the attached Summary of Stock Option Award are hereby incorporated into this Agreement as if set forth herein in their entirety.  In the event of a conflict between any provision of this Agreement and the Plan, the provisions of the Plan will control.  Capitalized terms used in this Agreement and not otherwise defined in this Agreement or the Summary of Stock Option Award will have the respective meanings assigned to such terms in the Plan.
9.    Effect on Employment or Services.  Nothing contained in the Plan or in this Agreement will confer upon Participant any right with respect to the continuation of his or her employment by or service with Noble or an Affiliate, or interfere in any way with the right of Noble or an Affiliate, (subject to the terms of any separate agreement to the contrary) at any time to terminate such employment or service or to increase or decrease the compensation of Participant from the rate in existence at the date of this Agreement.
10.    Binding Effect/Governing Law.  This Agreement will be binding upon and inure to the benefit of (i) Noble and its successors and assigns, and (ii) the Participant and his or her heirs, devisees, executors, administrators and personal representatives.  This Agreement will be governed by and construed in accordance with the internal laws (and not the principles relating to conflicts of laws) of the State of Texas, except as superseded by applicable federal law.

11.    Compensation Recoupment Policy.  By accepting the Option, Participant hereby acknowledges and agrees that Participant and this Option are subject to Noble’s compensation recoupment policy as contained in Noble’s Code of Conduct (the “Policy”), as amended from time to time, and the terms and conditions of the Policy are hereby incorporated by reference into this Agreement.

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