Document:

exv10w25

EXHIBIT 10.25

FIRST AMENDMENT

TO THE

NEWPARK RESOURCES, INC.

AMENDED AND RESTATED

NON-EMPLOYEE DIRECTORS’ RESTRICTED STOCK PLAN

     This First Amendment to the Newpark Resources, Inc. Amended and Restated Non-Employee
Directors’ Restricted Stock Plan (the “First Amendment”) is made and adopted by Newpark Resources,
Inc. (“Newpark”) effective June 11, 2008.

     WHEREAS, Newpark has adopted the Newpark Resources, Inc. Amended and Restated Non-Employee
Directors’ Restricted Stock Plan (the “Amended and Restated Plan”) (capitalized terms used but not
defined herein shall have the meanings attributable to them in the Amended and Restated Plan); and

     WHEREAS, pursuant to Paragraph 18 of the Amended and Restated Plan, the Board may amend the
Amended and Restated Plan;

     WHEREAS, the Board desires to amend the Amended and Restated Plan to provide that each
Original Grant and each subsequent grant of Restricted Shares to a Non-Employee Director upon
re-election to the Board will be based on a fixed dollar value of such award rather than the fixed
number of shares as currently provided in the Amended and Restated Plan.

     NOW, THEREFORE, the Amended and Restated Plan shall be amended as follows:

     1. Paragraph 4.1 of the Amended and Restated Plan is amended and restated to read in its
entirety as follows:

          “4.1 Subject to stockholder approval of this Amended and Restated Plan,
(i) each Non-Employee Director who is first elected a director after the Effective
Date but before the annual meeting of stockholders in 2009 will be granted 10,000
Restricted Shares automatically on the date of such election, and (ii) each
Non-Employee Director who is first elected a director on or after the annual meeting
of stockholders in 2009 will be granted the Applicable Number (as defined below) of
Restricted Shares automatically on the date of such election (each, the “Original
Grant”). For purposes of determining the Applicable Number, the date of such
election shall be the Date of Grant.”

     2. Paragraph 4.2 of the Amended and Restated Plan is amended and restated to read in its
entirety as follows:

          “4.2 Subject to stockholder approval of this Amended and Restated Plan,
(i) each Non-Employee Director (whether in office on the Effective Date or
subsequently elected) shall be granted 10,000 Restricted Shares automatically on the
date of each annual meeting of stockholders (or stockholder action in lieu thereof
by which the Board is elected) at which such Non-

 

 

Employee Director is
re-elected commencing with the annual meeting of stockholders in 2007 and ending
with the annual meeting of stockholders in 2008, and (ii) each Non-Employee Director
(whether in office on the Effective Date or subsequently elected) shall be granted
the Applicable Number of Restricted Shares automatically on the date of each annual
meeting of stockholders (or stockholder action in lieu thereof by which the Board is
elected) at which such Non-Employee Director is re-elected commencing with the
annual meeting of stockholders in 2009. For purposes of determining the Applicable
Number, the date of each annual meeting at which the Non-Employee Director is
re-elected (or stockholder action in lieu thereof by which the Board is elected)
shall be the Date of Grant. If following the annual meeting of stockholders in
2008 no annual meeting of stockholders (or stockholder action in lieu thereof by
which the Board is elected) occurs in a calendar year, and such Non-Employee
Director continues in office as a Non-Employee Director at the end of such calendar
year, then such Non-Employee Director automatically shall be granted the Applicable
Number of Restricted Shares pursuant to this paragraph 4.2 on the last Business Day
of such calendar year (which, for purposes of determining the Applicable Number,
shall be the Date of Grant), subject to the terms and conditions of this Amended and
Restated Plan. Notwithstanding the foregoing, a Non-Employee Director shall not
receive a grant of Restricted Shares pursuant to this paragraph 4.2 if such
Non-Employee Director received an Original Grant within six months before the date
on which such Non-Employee Director would have become entitled to receive a grant
pursuant to this paragraph 4.2. For purposes of this Amended and Restated Plan, the
term “Business Day” shall mean a day on which the New York Stock Exchange is open
for business and is conducting normal trading activity and the term “Applicable
Number” shall mean for grants of Restricted Shares occurring automatically under
paragraph 4.1 or this paragraph 4.2 on or after the annual meeting of stockholders
in 2009, a number derived by dividing (x) $125,000 by (y) the Fair Market Value of a
Restricted Share determined as of the Date of Grant.”

     3. Except as amended hereby, the Amended and Restated Plan shall continue in full force and
effect and the Amended and Restated Plan and this Amendment shall be construed as one instrument.
This First Amendment shall be construed in accordance with, and governed by, the laws of the State
of Delaware without regard to conflict of law principles.

* * * * *

2exv10w26

EXHIBIT 10.26

AMENDMENT ONE

NEWPARK RESOURCES, INC.

2006 EQUITY INCENTIVE PLAN

     WHEREAS, Newpark Resources, Inc. (hereinafter referred to as the “Company”) heretofore
established the Newpark Resources, Inc. 2006 Equity Incentive Plan (the “Plan”); and

     WHEREAS, the Company desires to amend the Plan to comply with Section 409A of the Internal
Revenue Code of 1986, as amended (the “Code”);

     NOW, THEREFORE, the Plan is hereby amended as follows effective as of the Effective Date of
the Plan:

     1. Section 3.2(f) of the Plan is amended to add the following language at the end thereof to read
as follows:

          “provided, however, that the Compensation Committee shall not have discretion to accelerate or
waive any term or condition of an Award (i) if such discretion would cause the Award to have
adverse tax consequences to the Participant under Section 409A of the Code or (ii) if the Award is
intended to qualify as “performance-based compensation” for purposes of Section 162(m) of the Code,
and such discretion would cause the Award not to so qualify;”

     2. Section 7.6 of the Plan is amended to add the following sentence at the end thereof to read as
follows:

          “Notwithstanding the foregoing, solely with respect to any Award that is subject to Section
409A of the Code, a Participant shall be considered to have terminated employment with the Company
and its Subsidiaries only when the Participant incurs a “separation from service” with respect to
the Company and its Subsidiaries within the meaning of Section 409A(a)(2)(A)(i) of the Code and
applicable administrative guidance issued thereunder.”

     3. The first sentence of Section 9.2 of the Plan is amended to read as follows:

          “At the time of grant of each Award of Restricted Stock Units, the Compensation Committee
shall determine the Restriction Period that will apply to the Award.”

     4. Section 9.4 of the Plan is amended in its entirety to read as follows:

          “On the vesting date or dates of the Award, the Company shall, subject to the terms of the
Plan and the Award Agreement, transfer to the Participant one Share for each Restricted Stock Unit
scheduled to be paid out on such date and not previously forfeited. The Compensation Committee
shall specify in the Award the purchase price, if any, to be paid by the Participant to the Company
for such Shares and shall determine the methods by which the purchase price may be paid or deemed
paid and the form the payment.”

 

 

     5. The last sentence of Section 10.5 of the Plan is deleted in its entirety.

     6. Section 21.12 of the Plan shall be amended to add the following sentences to the end thereof to
read as follows:

          “To the extent necessary to comply with Section 409A of the Code, if a Participant is a
specified employee, as defined in Treas. Reg. 1.409A-1(i), and any stock of the Company or of any
affiliate is publicly traded on an established securities market or otherwise, no payment or
benefit that is subject to Section 409A of the Code shall be made under this Plan on account of the
Participant’s separation from service with the Company or its Subsidiaries within the meaning of
Section 409A(a)(2)(A)(i) of the Code before the date that is the first day of the seventh month
beginning after the date the Participant’s separation from service (or, if earlier, the date of
death of the Participant or any other date permitted under Section 409A of the Code). To the
extent necessary to comply with Section 409A Code, no Award that is a Nonstatutory Option or a
Stock Appreciation Right shall contain or be amended to contain a “deferral feature” or an
“additional deferral feature” within the meaning and usage of those terms under Section 409A of the
Code and the administrative guidance thereunder.”

     7. The definition of “Change in Control” in Exhibit A to the Plan shall be amended to add the
following sentence to the end thereof to read as follows:

          “Notwithstanding the foregoing, solely with respect to any Award that is subject to Section
409A of the Code and payable upon a Change in Control, the term “Change in Control” shall mean an
event described in one or more of the foregoing provisions of this definition, but only if it also
constitutes a “change in control event” within the meaning of Treas. Reg. 1.409A-3(i)(5).”

     8. The definition of “Subsidiary” in Exhibit A to the Plan shall be amended to add the following
language to the end thereof to read as follows:

          “, and for purposes of Awards of Nonstatutory Options, “Subsidiary” means a corporation or
other entity in an chain of corporations and/or other entities in which the Company has a
“controlling interest” within the meaning of Treas. Reg. 1.414(c)-2(b)(2)(i), but using the
threshold of 50% ownership wherever 80% appears.”

          IN WITNESS WHEREOF, the Company has caused this instrument to be executed by its duly
authorized officer on this 8th day of December, 2008.

	 	 	 	 	 	 	 	 	 
	ATTEST:	 	 	 	COMPANY	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	NEWPARK RESOURCES, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ Mark J. Airola

	 	 	 	By:
	 	     /s/ Paul Howes	 	 
	 

	 	 
	 	 	 	 

	 	 
	Secretary

	 	 	 	Title:
	 	     President & CEO

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00155-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00155-of-00352.parquet"}]]