Document:

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                                                                   Exhibit 10.23

                                                   AMENDED BY BOARD OF DIRECTORS
                                                                 AUGUST 26, 2002

                  KEY EMPLOYEE SUPPLEMENTAL RETIREMENT PLAN OF
                           PHILLIPS PETROLEUM COMPANY

                                     PURPOSE

The purpose of the Key Employee Supplemental Retirement Plan of Phillips
Petroleum Company (the "Plan") is to attract and retain key employees by
providing them with supplemental retirement benefits. This Plan is intended to
be and shall be administered as an unfunded excess benefit plan for highly
compensated employees within the meaning of ERISA Sections 3(36) and 4(b)(5)
subject to Section V.

SECTION I. Definitions.

As used in this Plan:

(a)   "Board" shall mean the board of directors of the Company.

(b)   "Chief Executive Officer (CEO)" shall mean the Chief Executive Officer of
      the Company.

(c)   "Code" shall mean the Internal Revenue Code of 1986, as amended from time
      to time.

(d)   "Committee" shall mean the Compensation Committee of the Board of
      Directors of ConocoPhillips.

(e)   "Company" shall mean Phillips Petroleum Company.

(f)   "Employee" shall mean a person who is an active participant in the
      Retirement Plan.

(g)   "ERISA" shall mean the Employee Retirement Income Security Act of 1974, as
      amended

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      from time to time, or any successor statute.

(h)   "Exchange Act" shall mean the Securities Exchange Act of 1934, as amended
      and in effect from time to time, or any successor statute.

(i)   "Incentive Compensation Plan" shall mean the Incentive Compensation Plan
      of the Company, or the Annual Incentive Compensation Plan of Phillips
      Petroleum Company, or similar plan of a Participating Subsidiary, or any
      similar or successor plans, or all, as the context may require.

(j)   "KEDCP" shall mean the Key Employee Deferred Compensation Plan of Phillips
      Petroleum Company.

(k)   "Nonqualified Plans" shall mean the Key Employee Supplemental Retirement
      Plan, Supplemental Executive Retirement Plan, the Key Employee Missed
      Credited Service Retirement Plan and any similar plan or plans of the
      Company or a Participating Subsidiary.

(l)   "Participating Subsidiary" shall mean a subsidiary of the Company, of
      which the Company beneficially owns, directly or indirectly, more than 50%
      of the aggregate voting power of all outstanding classes and series of
      stock, where such subsidiary has adopted one or more plans making
      participants eligible for participation in this Plan.

(m)   "Plan" shall mean the Key Employee Supplemental Retirement Plan of
      Phillips Petroleum Company, the terms of which are stated in and by this
      document.

(n)   "Plan Administrator" shall mean Executive Vice President, Planning,
      Corporate Relations and Services, or his successor.

(o)   "Restricted Stock" shall mean shares of Stock which have certain
      restrictions attached to the ownership thereof.

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(p)   "Retirement Plan" shall mean the Retirement Income Plan of Phillips
      Petroleum Company, which plan is qualified under Code Section 401(a).

(q)   "Salary" shall mean the monthly equivalent rate of pay for an Employee
      before adjustments for any before-tax voluntary reductions.

(r)   "Stock" means shares of common stock of ConocoPhillips, par value $.01.

(s)   "Total Final Average Earnings" shall mean the average of the high 3
      earnings, excluding Incentive Compensation Plan Awards, paid in
      consecutive years of the last 10 years prior to termination of employment
      plus the average of the high 3 Incentive Compensation Awards for any of
      such last 10 years under the Incentive Compensation Plan, whether paid or
      deferred, and shall include the value of any special awards specified by
      the Compensation Committee to be included for final average earnings
      purposes under the terms of the special awards when granted by the
      Compensation Committee and shall also recognize benefits paid under
      Section 4.2 of the Phillips Petroleum Company Executive Severance Plan in
      the same manner as layoff pay is recognized by the Retirement Plan.

(t)   "Trustee" means the trustee of the grantor trust established by the Trust
      Agreement between the Company and Wachovia Bank, N.A. dated as of June 1,
      1998, or any successor trustee.

SECTION II. Plan Benefits.

Supplemental payments will be made in such amounts which, together with the
payments which the Employee or the Employee's surviving spouse, in the case of
the death of an Employee prior to retirement or the death of a former Employee
prior to commencing retirement benefits is

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eligible to receive under the Retirement Plan, will equal the retirement benefit
that would have been payable under the Retirement Plan except for any or all of
the following reasons:

(a)   An Employee's deferral of all or any portion of one or more awards under
      the Incentive Compensation Plan, pursuant to the provisions of KEDCP,
      which results in a reduction in the total retirement benefits which would
      have been payable under the Retirement Plan,

(b)   The issuance of Restricted Stock in settlement of awards under the
      Incentive Compensation Plan (which for purposes of this Section the
      initial value thereof shall be considered a "deferral"), which results in
      a reduction in the total retirement benefits which would have been payable
      under the Retirement Plan,

(c)   An Employee's voluntary reduction of salary pursuant to the provisions of
      KEDCP which results in a reduction in the total retirement benefits which
      would have been payable under the Retirement Plan,

(d)   The payments which would have been received under the Retirement Plan
      except for limitations relating to Code Section 401(a)(17), or

(e)   The payments which would have been received under the Retirement Plan
      except for limitations relating to Code Section 415, including without
      limitation the interest rate limitations of Code Section 415(b)(2)(E).

(f)   The payments which would have been received under the Retirement Plan if
      benefits under Section 4.2 of the Phillips Petroleum Company Executive
      Severance Plan were recognized under the Retirement Plan as layoff pay for
      purposes of final average earnings and credited service.

In addition to the supplemental payments in Section II (a), (b), (c), (d), (e)
and (f) hereof, an

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additional supplemental retirement payment will be made to an Employee who
terminates employment on or after February 8, 1993, calculated under the terms
of the Retirement Plan using as final average earnings the difference, if any,
between the Total Final Average Earnings and the Final Average Earnings used in
the Retirement Plan.

SECTION III. Special Survivor Benefit.

Each senior vice president or higher level executive of the Company may, as soon
as practicable, following the announcement of the merger of Conoco and Phillips,
elect to receive a lump sum benefit under the Company's Nonqualified Plans when
they retire after the transaction. If such officer should die before actually
commencing retirement benefits, then his or her surviving spouse will receive a
lump sum benefit calculated on the same basis as if the executive had commenced
his or her retirement benefit from the Retirement Income Plan and applicable
Nonqualified Plans as a lump sum, less the value of the pre-retirement 50% joint
and survivor annuity death benefit payable under the Retirement Income Plan, the
first of the month following the death of the executive. The surviving spouse
who receives such lump sum will not be eligible to receive the pre-retirement
50% joint and survivor annuity death benefit from the Nonqualified Plans.

SECTION IV. Special Provision for former ARCO Alaska Employees.

Notwithstanding any provisions to the contrary, in order to comply with the
terms of the Board approved Master Purchase and Sale Agreement ("Sale
Agreement") by which the Company

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acquired certain Alaskan assets of Atlantic Richfield Company, Inc. ("ARCO"),
the following supplemental payments will be made:

(a)   The payments which would have been received under Article XXIV - ARCO
      Flight Crew of the Retirement Plan for those who were classified as an
      Aviation Manager, Chief Pilot, Assistant Chief Pilot, Captain or Reserve
      Captain as of July 31, 2000 if they had been eligible for those benefits
      under the Retirement Plan, except that if they receive a limited social
      security makeup benefit from the Retirement Plan it will be offset from
      the benefit payable from the plan.

(b)   A final ARCO Supplemental Executive Retirement Plan (SERP) benefit will be
      calculated at the earlier of the time an Employee who had an ARCO SERP
      benefit terminates employment or, 2 years following the ARCO/BP Amoco
      p.l.c. merger, April 17, 2002 ("calculation date"). The SERP benefit
      attributable to service through July 31, 2000 shall be paid by BP Amoco
      p.l.c. and the difference shall be paid by this plan. The SERP calculation
      will be done as if the Employee had continued to participate in the
      Atlantic Richfield Retirement Plan and SERP up to the calculation date.
      The ARCO Annual Incentive Plan (AIP) amount used will be:

      (i)   if the Employee terminates employment involuntarily prior to April
            17, 2002, the highest of the actual AIP in the last 3 years
            including the AIP target payment amount for years after 1999 or the
            payment received under Phillips Annual Incentive Compensation Plan

      (ii)  if the Employee terminates employment voluntarily prior to April 17,
            2002, or if the calculation is made as of April 17, 2002, then the
            AIP will include the highest 3

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            year average using the highest of the actual AIP, the AIP target
            payment amount for years after 1999, or the payment received under
            Phillips Annual Incentive Compensation Plan.

      Any benefit paid by this plan under this Section IV (b)(ii) and the SERP
      benefit paid by BP Amoco p.l.c. shall offset the benefit payable from this
      plan at the time the Employee commences benefits under the Retirement
      Plan.

SECTION V. Payment of Benefits.

Subject to the requirement that the manner of payment of supplemental retirement
benefits which an Employee is eligible to receive under this Plan, the Principal
Corporate Officers Supplemental Retirement Plan of Phillips Petroleum Company,
the Phillips Petroleum Company Supplemental Executive Retirement Plan, the
Phillips Petroleum Company Key Employee Death Protection Plan, the Key Employee
Missed Credited Service Retirement Plan and any similar plan or plans of the
Company or a Participating Subsidiary, shall be the same and, subject further to
the condition that an Employee who receives payments under this Plan in the
manner described in Section IV (b) hereof, shall agree to be available to
provide from time to time advice and consultation to the Company after
reasonable notice and for reasonable compensation therefore:

      (a)   An Employee may elect in the manner prescribed by the Plan
            Administrator to have the payments provided for hereunder made on a
            straight life annuity basis, or to have such life annuity payments
            converted in the manner provided by the Retirement Plan

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            to any one of the other forms of payments which the Employee would
            be entitled to select (except the lump-sum settlement option) if
            such payments were to be paid to the Employee under the Retirement
            Plan.

      (b)   Notwithstanding (a) above, an Employee who is commencing retirement
            benefits and is eligible for a lump sum distribution from the
            Retirement Income Plan may, not earlier than 90 days nor later than
            30 days prior to commencing retirement benefits, express a
            preference, in the manner prescribed by the Plan Administrator, to
            have the payment of the amounts provided for hereunder converted in
            the manner provided by the Retirement Plan from a life annuity basis
            to one lump-sum payment of which all or part of the lump sum payment
            is either paid to the Employee or considered an award pursuant to
            the provisions of KEDCP. The Chief Executive Officer, with respect
            to Employees who are not subject to Section 16 of the Exchange Act,
            and the Committee, with respect to Employees who are subject to
            Section 16 of the Exchange Act, shall consider such indication of
            preference and shall respectively decide in the Chief Executive
            Officer's or the Committee's sole discretion whether to accept or
            reject the preference expressed. In the event the Chief Executive
            Officer or the Committee, as applicable, accepts such Employee's
            preference, part or all of the Plan benefits shall be paid in a lump
            sum as soon as practicable after the later of such acceptance or the
            Employee's retirement benefit commencement date or credited as of
            the Employee's retirement benefit commencement date to the
            Employee's KEDCP account as applicable.

SECTION VI. Method of Providing Benefits.

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All amounts payable under this Plan shall be paid solely from the general assets
of the Company and any rights accruing to an eligible Employee or Retiree under
the Plan shall be those of a general creditor; provided, however, that the
Company may establish a grantor trust to satisfy part or all of its Plan payment
obligations so long as the Plan remains an unfunded excess benefit plan for
purposes of Title I of ERISA.

SECTION VII. Nonassignability.

The right of an Employee, or beneficiary, or other person who becomes entitled
to receive payments under this Plan, shall not be assignable or subject to
garnishment, attachment or any other legal process by the creditors of, or other
claimants against, the Employee, beneficiary, or other such person.

SECTION VIII. Administration.

(a)   The Plan shall be administered by the Plan Administrator. The Plan
      Administrator may adopt such rules, regulations and forms as deemed
      desirable for administration of the Plan and shall have the discretionary
      authority to allocate responsibilities under the Plan to such other
      persons as may be designated, whether or not employee members of the
      Board.

(b)   Any claim for benefits hereunder shall be presented in writing to the Plan
      Administrator for consideration, grant or denial. In the event that a
      claim is denied in whole or in part by

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      the Plan Administrator, the claimant, within ninety days of receipt of
      said claim by the Plan Administrator, shall receive written notice of
      denial. Such notice shall contain:

      (1)   a statement of the specific reason or reasons for the denial;

      (2)   specific references to the pertinent provisions hereunder on which
            such denial is based;

      (3)   a description of any additional material or information necessary to
            perfect the claim and an explanation of why such material or
            information is necessary; and

      (4)   an explanation of the following claims review procedure set forth in
            paragraph (c) below.

(c)   Any claimant who feels that a claim has been improperly denied in whole or
      in part by the Plan Administrator may request a review of the denial by
      making written application to the Trustee. The claimant shall have the
      right to review all pertinent documents relating to said claim and to
      submit issues and comments in writing to the Trustee. Any person filing an
      appeal from the denial of a claim must do so in writing within sixty days
      after receipt of written notice of denial. The Trustee shall render a
      decision regarding the claim within sixty days after receipt of a request
      for review, unless special circumstances require an extension of time for
      processing, in which case a decision shall be rendered within a reasonable
      time, but not later than 120 days after receipt of the request for review.
      The

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      decision of the Trustee shall be in writing and, in the case of the denial
      of a claim in whole or in part, shall set forth the same information as is
      required in an initial notice of denial by the Plan Administrator, other
      than an explanation of this claims review procedure. The Trustee shall
      have absolute discretion in carrying out its responsibilities to make its
      decision of an appeal, including the authority to interpret and construe
      the terms hereunder, and all interpretations, findings of fact, and the
      decision of the Trustee regarding the appeal shall be final, conclusive
      and binding on all parties.

(d)   Compliance with the procedures described in paragraphs (b) and (c) shall
      be a condition precedent to the filing of any action to obtain any benefit
      or enforce any right which any individual may claim hereunder.
      Notwithstanding anything to the contrary in this Plan, these paragraphs
      (b), (c) and (d) may not be amended without the written consent of a
      seventy-five percent (75%) majority of Participants and Beneficiaries and
      such paragraphs shall survive the termination of this Plan until all
      benefits accrued hereunder have been paid.

SECTION IX. Employment not Affected by Plan.

Participation or nonparticipation in this Plan shall neither adversely affect
any person's employment status, or confer any special rights on any person other
than those expressly stated in the Plan. Participation in the Plan by an
Employee of the Company or of a Participating Subsidiary shall not affect the
Company's or the Participating Subsidiary's right to terminate the Employee's
employment or to change the Employee's compensation or position.

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SECTION X. Miscellaneous Provisions.

(a)   The Board reserves the right to amend or terminate this Plan at any time,
      if, in the sole judgment of the Board, such amendment or termination is
      deemed desirable; provided that no member of the Board who is also an
      Employee or Retiree shall participate in any action which has the actual
      or potential effect of increasing his or her benefits hereunder, and
      further provided, the Company shall remain liable for any benefits accrued
      under this Plan prior to the date of amendment or termination.

(b)   Except as otherwise provided herein, the Plan shall be binding upon the
      Company, its successors and assigns, including but not limited to any
      corporation which may acquire all or substantially all of the Company's
      assets and business or with or into which the Company may be consolidated
      or merged.

(c)   No amount accrued or payable hereunder shall be deemed to be a portion of
      an Employee's compensation or earnings for the purpose of any other
      employee benefit plan adopted or maintained by the Company, nor shall this
      Plan be deemed to amend or modify the provisions of the Retirement Plan.

(d)   The Plan shall be construed, regulated, and administered in accordance
      with the laws of the State of Oklahoma except to the extent that said laws
      have been preempted by the laws of the United States.

                                       12<PAGE>
                                                                   Exhibit 10.24

                                                   Amended by Corporate Approval
                                                               December 19, 2002

                        DEFINED CONTRIBUTION MAKEUP PLAN
                                       OF
                                 CONOCOPHILLIPS

SECTION 1. DEFINITIONS.

For purposes of the Plan, the following terms, as used herein, shall have the
meaning specified:

(a)   "AFFILIATED COMPANY" means ConocoPhillips and any company or other legal
      entity that is controlled, either directly or indirectly, by
      ConocoPhillips.

(b)   "AFFILIATED GROUP" shall mean ConocoPhillips and its subsidiaries and
      affiliates in which it owns a 5% or more equity interest.

(c)   "ALLOCATION RATIO" shall mean the ratio determined by dividing (i) an
      amount equal to the total value of the unallocated shares of Stock
      allocated to Stock Savings Feature participants and beneficiaries as of a
      Stock Savings Feature Semiannual Allocation Date or Supplemental
      Allocation Date (as defined in the CPSP) by (ii) an amount equal to the
      total net Stock Savings Feature employee deposits used in the calculation
      of the Stock Savings Feature Semiannual Allocation or Supplemental
      Allocation (as defined in the CPSP).

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(d)   "BENEFICIARY" means a person or persons designated by a Participant to
      receive, in the event of death, any unpaid portion of a Participant's
      Benefit from this Plan. Any Participant may designate one or more persons
      primarily or contingently as beneficiaries in writing upon forms supplied
      by and delivered to the Company, and may revoke such designations in
      writing. If a Participant fails to properly designate a beneficiary, then
      the Benefits will be paid in the following order of priority:

      (i)   Surviving spouse;

      (ii)  Surviving children in equal shares;

      (iii) To the estate of the Participant.

(e)   "BENEFIT" shall mean an obligation of the Company to pay amounts from this
      Plan.

(f)   "BOARD" means the Board of Directors of the Company, as it may be
      comprised from time to time.

(g)   "CODE" means the Internal Revenue Code of 1986, as amended from time to
      time, or any successor statute.

(h)   "CPSP" means the ConocoPhillips Savings Plan.

(i)   "COMMITTEE" means the Compensation Committee of the Board of Directors of
      ConocoPhillips or any successor committee with substantially the same
      responsibilities.

(j)   "COMPANY" means ConocoPhillips Company, a Delaware corporation, or any
      successor corporation.

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(k)   "DISABILITY" means the inability, in the opinion of the Medical Director
      of ConocoPhillips, of a Participant, because of an injury or sickness, to
      work at a reasonable occupation that is available with the a member of the
      Affiliated Group.

(l)   "EMPLOYEE" means any individual who is a salaried employee of the Company
      or any Participating Subsidiary.

(m)   "EXCHANGE ACT" means the Securities Exchange Act of 1934, as amended and
      in effect from time to time, or any successor statute.

(n)   "HIGHLY COMPENSATED EMPLOYEE" shall mean an Employee whose compensation
      exceeds the amount set forth in Code Section 401(a)(17), as amended from
      time to time, or who is eligible to elect a voluntary salary reduction
      under the provisions of the KEDCP; provided, however, that Employees of
      ConocoPhillips Services Inc. or Employees of any member of the Affiliated
      Group that prior to August 30, 2002, was also a member of the controlled
      group of companies of which Conoco Inc. was then a member shall only be a
      Highly Compensated Employee for purposes of the Supplemental Stock Savings
      Feature of this Plan.

(o)   "KEDCP" shall mean the Key Employee Deferred Compensation Plan of
      ConocoPhillips Company or any similar or successor plan maintained by an
      Affiliated Company.

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(p)   "LAYOFF" or "LAID OFF" means layoff under the Phillips Layoff Plan, the
      Work Force Stabilization Plan of Phillips Petroleum Company, the Phillips
      Petroleum Company Executive Severance Plan, The Conoco Inc. Severance Pay
      Plan, the Conoco Inc. Key Employee Severance Plan or any similar plan
      which the Company, any Participating Subsidiary or a member of the
      Affiliated Group may adopt from time to time under the terms of which the
      Participant executes and does not revoke a general release of liability,
      acceptable to the Company, Participating Subsidiary or a member of the
      Affiliated Group, as applicable, under such layoff plan.

(q)   "PARTICIPANT" means an Employee who is eligible to receive a Benefit from
      this Plan as a result of being a Highly Compensated Employee and any
      person for whom a Supplemental Thrift Feature Account and/or a
      Supplemental Stock Savings Feature Account is maintained.

(r)   "PARTICIPATING SUBSIDIARY" means a subsidiary of ConocoPhillips, which has
      adopted the CPSP, and one or more Employees of which are Participants
      eligible to make deposits to the CPSP, or are eligible for Benefits
      pursuant to this Plan.

(s)   "PAY" means, "Pay" as defined in the CPSP except, without regard to Pay
      Limitations or voluntary Salary Reduction under provisions of the KEDCP.

(t)   "PAY LIMITATIONS" means the compensation limitations applicable to the
      CPSP that are set forth in Code Section 401(a)(17), as adjusted.

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(u)   "PLAN ADMINISTRATOR" means the Manager, Compensation and Benefits, of
      ConocoPhillips or his successor.

(v)   "RETIREMENT" means termination of employment with the Company, a
      Participating Subsidiary or a member of the Affiliated Group that
      qualifies the Employee for Retirement as that term is defined in the
      applicable provisions of the ConocoPhillips Retirement Plan or of the
      applicable retirement plan of a member of the Affiliated Group.

(w)   "STOCK" means shares of common stock, $0.01 par value, issued by
      ConocoPhillips, and prior to August 30, 2002, shares of common stock,
      $1.25 par value, of Phillips Petroleum Company.

(x)   "STOCK SAVINGS FEATURE" shall mean the Stock Savings Feature of the CPSP.

(y)   "SUPPLEMENTAL THRIFT CONTRIBUTIONS" means, (i) prior to the month in which
      the Participant's Pay first exceeds the Pay Limitations in a year, the
      same percentage of a Participant's Pay that the Participant is depositing
      as a Basic Deposit to the Thrift Feature for that month multiplied by the
      amount of the Participant's voluntary salary reduction under the KEDCP for
      that month, and (ii) provided the Participant is making deposits to the
      Thrift Feature for the month in which the Participant's Pay exceeds the
      Pay Limitations and each month thereafter until the end of the year, the
      same percentage of the Participant's Pay that the Participant was
      depositing as a Basic Deposit to

                                      -5-
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      the Thrift Feature for the month in which he or she reached the Pay
      Limitations for the year, multiplied by the sum of the amount of the
      Participant's voluntary salary reduction under the KEDCP for that month
      plus the amount of the Participant's Pay for that month that is in excess
      of the Pay Limitations for that year.

(z)   "SUPPLEMENTAL STOCK SAVINGS FEATURE ACCOUNT" means the Plan Benefit
      account of a Participant that reflects the portion of his or her Benefit
      that is intended to replace certain Stock Savings Feature benefits to
      which the Participant might otherwise be entitled but for the application
      of the Pay Limitations and/or a voluntary salary reduction under the
      KEDCP.

(aa)  "SUPPLEMENTAL STOCK SAVINGS CONTRIBUTIONS" means (i) prior to the month in
      which the Participant's Pay first exceeds the Pay Limitations in a year,
      for each month that the Participant makes deposits to the Stock Savings
      Feature, 1% of the amount of the Participant's voluntary salary reduction
      under the KEDCP for that month, and (ii) provided the Participant is
      making deposits to the Stock Savings Feature in the month in which the
      Participant's Pay exceeds the Pay Limitations, for that month and for each
      month thereafter until the end of the year, 1% of the sum of the amount of
      the Participant's voluntary salary reduction under the KEDCP for that
      month plus the amount of the Participant's Pay for that month that is in
      excess of the Pay Limitations for that year.

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(bb)  "SUPPLEMENTAL THRIFT FEATURE ACCOUNT" means the Plan Benefit account of a
      Participant which reflects the portion of his or her Benefit which is
      intended to replace certain Thrift Feature benefits to which the
      Participant might otherwise be entitled but for the application of the Pay
      Limitations and/or a voluntary salary reduction under the KEDCP.

(cc)  "THRIFT FEATURE" shall mean the Thrift Feature of the CPSP.

(dd)  "TRUSTEE" shall mean the trustee of the grantor trust established by the
      Trust Agreement between the Company (known then as Phillips Petroleum
      Company) and Wachovia Bank, N.A. dated as of June 1, 1998, or any
      successor trustee.

(ee)  "VALUATION DATE" means "Valuation Date" as defined in the CPSP.

SECTION 2. PURPOSE.

The purpose of this Plan is to provide supplemental benefits for those Highly
Compensated Employees whose benefits under the CPSP are affected by Pay
Limitations or by a voluntary reduction in salary under provisions of KEDCP.
This Plan is intended to be and shall be administered as an unfunded benefit
plan for Highly Compensated Employees.

SECTION 3. ELIGIBILITY.

Benefits may only be granted to Highly Compensated Employees.

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SECTION 4. SUPPLEMENTAL THRIFT FEATURE ACCOUNT BENEFITS.

For each month in which Company Contributions to a Participant's account in the
Thrift Feature are, or would be, limited by the Pay Limitations and/or by a
voluntary salary reduction to the KEDCP, a Benefit amount shall be credited to
his or her Supplemental Thrift Feature Account no later than the end of the
month following the Valuation Date that Company contributions are made to the
Participant's Thrift Feature Account, or would be made to such account but for
Pay Limitations. The Participant will be credited with an amount equal to the
amount of his or her Supplemental Thrift Contributions each month to the same
investment funds and in the same proportions as the Participant has directed his
or her latest available investment allocation for Deposits to the Thrift
Feature.

SECTION 4.1 SUPPLEMENTAL THRIFT FEATURE ACCOUNT EARNINGS

The Supplemental Thrift Feature Account shall be eligible to be invested in the
same investment funds as are made available to Participants in the Thrift
Feature from time to time. While such investments shall consist solely of book
entries and shall not actually be invested in such funds, the book entry share
value of such deemed investment funds in this Plan shall be determined to be the
same share value as the actual value of shares in the investment funds of the
CPSP. The amounts deemed invested in this Plan shall be valued at the same time
and in the same manner as though they were actually invested in the CPSP. Also,
deemed investments in the Participant's Supplemental Thrift Feature Account may
be exchanged into other available investment funds in

                                      -8-
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the same manner, at the same times, and subject to the same limitations as
though the deemed amounts were actually invested in the CPSP. However, to the
extent that earnings in the form of dividends on Company Stock in the CPSP are
eligible to be passed through to the Participant, such dividends will be deemed
to have been reinvested in the Company Stock Fund of this Plan, without regard
to whether the Participant has made a pass through election under the CPSP.

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<PAGE>

SECTION 5. SUPPLEMENTAL STOCK SAVINGS FEATURE ACCOUNT BENEFITS.

For each month in which a Semiannual Allocation or Supplemental Allocation (as
defined in the CPSP) to a Participant's account in the Stock Savings Feature is,
or would be, limited by the Pay Limitations and/or by a voluntary salary
reduction under the KEDCP, a Benefit amount shall be credited to his or her
Supplemental Stock Savings Feature Account. The amount to be credited shall be
calculated in shares in the Leveraged Stock Fund of this Plan as though the
Participant had made Supplemental Stock Savings Contributions and shall be equal
to (i) the Participant's Supplemental Stock Savings Contributions during the
applicable Allocation Period (as defined in the CPSP) multiplied by the
applicable Allocation Ratio, divided by (ii) the share value for the Leveraged
Stock Fund of the CPSP on the applicable Allocation Date. This amount shall be
credited no later than the end of the month following the Valuation Date that
the Semiannual Allocation or Supplemental Allocation to the Leveraged Stock Fund
would have been made had the Participant received a Semiannual Allocation or
Supplemental Allocation under the Stock Savings Feature. A share in the
Leveraged Stock Fund of the Supplemental Stock Savings Feature Account shall
have a value equivalent to a share in the Leveraged Stock Fund of the CPSP.

SECTION 5.1 SUPPLEMENTAL STOCK SAVINGS ACCOUNT FEATURE EARNINGS

After being initially invested in the Leveraged Stock Fund account, the amounts
in the Participant's Supplemental Stock Savings Feature Account shall thereafter
be eligible to be invested in the same investment funds as are made available to

                                      -10-
<PAGE>

Participants in the CPSP from time to time. While such investments shall consist
solely of book entries and shall not actually be invested in such funds, the
book entry share value of such deemed investment funds in this Plan shall be
determined to be the same share value as the actual value of shares in the
investment funds of the CPSP. The amounts deemed invested in this Plan shall be
valued at the same time and in the same manner as though they were actually
invested in the CPSP. Also, deemed investments in the Participant's Supplemental
Stock Savings Feature Account may be exchanged into other available investment
funds in the same manner, at the same times, and subject to the same limitations
as though the deemed amounts were actually invested in the CPSP. However, to the
extent that earnings in the form of dividends on Company Stock in the CPSP are
eligible to be passed through to the Participant, such dividends will be deemed
to have been reinvested in the Company Stock Fund of this Plan, without regard
to whether the Participant has made a pass through election under the CPSP.

SECTION 6. PAYMENT.

If a Participant terminates employment with the Affiliated Group for any reason
except death, Disability, Layoff during or after the year in which the
Participant reaches age 50, or Retirement, Benefits which the Participant is
eligible to receive under this Plan shall be paid in one lump sum cash payment
as soon as practicable following his or her termination. If a Participant dies
prior to Retirement, Benefits which the Participant is eligible to receive under
this Plan shall be paid in one lump sum cash payment to the Participant's
Beneficiary as soon as practicable after his or her death. If a Participant
Retires, is

                                      -11-
<PAGE>

Laid off during or after the year in which the Participant reaches age 50, or
becomes Disabled, Benefits which the Participant is eligible to receive under
this Plan shall be paid in one lump sum cash payment as soon as practicable
following the Participant's Retirement, Layoff, determination of Disability or
termination of employment; provided that such a Participant may indicate a
preference to defer part or all of such lump sum cash payment under the terms of
the KEDCP.

All lump sum cash payments shall be made only as of a Valuation Date and shall
be net of withholding for applicable taxes required by law.

The Chief Executive Officer of ConocoPhillips, with respect to Participants who
are not subject to Section 16 of the Exchange Act, and the Committee, with
respect to Participants who are subject to Section 16 of the Exchange Act, shall
consider such indication of preference and shall respectively decide in the
Chief Executive Officer's or the Committee's sole discretion whether to accept
or reject the preference expressed. In the event the Chief Executive Officer or
the Committee, as applicable, accepts such Participant's preference, the
Participant's Benefit from this Plan shall be credited as an Award under the
KEDCP as soon as practicable after the Participant's Retirement, Layoff or the
date the Participant is determined to be Disabled.

SECTION 7. ADMINISTRATION.

                                      -12-
<PAGE>

(a)   The Plan shall be administered by the Plan Administrator. The Plan
      Administrator may delegate to employees of the Company or any Affiliated
      Company the authority to execute and deliver such instruments and
      documents, to do all such acts and things, and to take all such other
      steps deemed necessary, advisable or convenient for the effective
      administration of the Plan in accordance with its terms and purpose,
      except that the Plan Administrator may not delegate any discretionary
      authority with respect to substantive decisions or functions regarding the
      Plan or Benefits thereunder.

(b)   Any claim for benefits hereunder shall be presented in writing to the Plan
      Administrator for consideration, grant or denial. In the event that a
      claim is denied in whole or in part by the Plan Administrator, the
      claimant, within ninety days of receipt of said claim by the Plan
      Administrator, shall receive written notice of denial. Such notice shall
      contain:

      (1)   a statement of the specific reason or reasons for the denial;

      (2)   specific references to the pertinent provisions hereunder on which
            such denial is based;

      (3)   a description of any additional material or information necessary to
            perfect the claim and an explanation of why such material or
            information is necessary; and

                                      -13-
<PAGE>

      (4)   an explanation of the following claims review procedure set forth in
            paragraph (c) below.

(c)   Any claimant who feels that a claim has been improperly denied in whole or
      in part by the Plan Administrator may request a review of the denial by
      making written application to the Trustee. The claimant shall have the
      right to review all pertinent documents relating to the claim and to
      submit issues and comments in writing to the Trustee. Any person filing an
      appeal from the denial of a claim must do so in writing within sixty days
      after receipt of written notice of denial. The Trustee shall render a
      decision regarding the claim within sixty days after receipt of a request
      for review, unless special circumstances require an extension of time for
      processing, in which case a decision shall be rendered within a reasonable
      time, but not later than 120 days after receipt of the request for review.
      The decision of the Trustee shall be in writing and, in the case of the
      denial of a claim in whole or in part, shall set forth the same
      information as is required in an initial notice of denial by the Plan
      Administrator, other than an explanation of this claims review procedure.
      The Trustee shall have absolute discretion in carrying out its
      responsibilities to make its decision of an appeal, including the
      authority to interpret and construe the terms hereunder, and all
      interpretations, findings of fact, and the decision of the Trustee
      regarding the appeal shall be final, conclusive and binding on all
      parties.

                                      -14-
<PAGE>

      (d)   Compliance with the procedures described in paragraphs (b) and (c)
            shall be a condition precedent to the filing of any action to obtain
            any benefit or enforce any right that any individual may claim
            hereunder. Notwithstanding anything to the contrary in this Plan,
            these paragraphs (b), (c) and (d) may not be amended without the
            written consent of a seventy-five percent (75%) majority of
            Participants and Beneficiaries and such paragraphs shall survive the
            termination of this Plan until all benefits accrued hereunder have
            been paid.

SECTION 8. RIGHTS OF EMPLOYEES AND PARTICIPANTS.

Nothing contained in the Plan (or in any other documents related to this Plan or
to any Benefit) shall confer upon any Employee or Participant any right to
continue in the employ or other service of the Company or any member of the
Affiliated Group or constitute any contract or limit in any way the right of the
Company or any member of the Affiliated Group to change such person's
compensation or other benefits or to terminate the employment of such person
with or without cause.

SECTION 9. AWARDS IN FOREIGN COUNTRIES.

The Board or its delegate shall have the authority to adopt such modifications,
procedures and subplans as may be necessary or desirable to comply with
provisions of the laws of foreign countries in which the Company or
Participating Subsidiaries may

                                      -15-
<PAGE>

operate to assure the viability of the Benefits of Participants employed in such
countries and to meet the purpose of this Plan.

                                      -16-
<PAGE>

SECTION 10. AMENDMENT AND TERMINATION.

The Board reserves the right to amend or terminate this Plan at any time, and to
delegate such authority as the Board deems necessary or desirable; provided that
no member of the Board who is also a Participant shall participate in any action
which has the actual or potential effect of increasing his or her Benefits
hereunder; and further provided, the Company shall remain liable for any
Benefits accrued under this Plan prior to the date of amendment or termination.

SECTION 11. UNFUNDED PLAN.

All amounts payable under this Plan shall be paid solely from the general assets
of the Company and any rights accruing to a Participant under the Plan shall be
those of a general creditor; provided, however, that the Company or
ConocoPhillips may establish a grantor trust to satisfy part or all of the
Company's Plan payment obligations so long as the Plan remains unfunded for
purposes of Title I of ERISA.

SECTION 12. MISCELLANEOUS PROVISIONS.

(a)   No right or interest of a Participant under this Plan shall be assignable
      or transferable, in whole or in part, directly or indirectly, by operation
      of law or otherwise (excluding devolution upon death or mental
      incompetency), without the prior consent of the Board.

(b)   This Plan shall be restated and amended effective as of January 1, 2003.

                                      -17-
<PAGE>

(c)   No amount accrued or payable hereunder shall be deemed to be a portion of
      an Employee's compensation or earnings for the purpose of any other
      employee benefit plan adopted or maintained by the Company, nor shall this
      Plan be deemed to amend or modify the provisions of the CPSP.

(d)   This Plan shall be construed, regulated, and administered in accordance
      with the laws of the State of Texas except to the extent that said laws
      have been preempted by the laws of the United States.

(e)   Except as otherwise provided herein, the Plan shall be binding upon the
      Company, its successors and assigns, including but not limited to any
      corporation which may acquire all or substantially all of the Company's
      assets and business or with or into which the Company may be consolidated
      or merged.

                                      -18-

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