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                         FORM OF STOCK OPTION AGREEMENT
                                FOR THE GRANT OF
                      NON-QUALIFIED STOCK OPTIONS UNDER THE
                      INTERNATIONAL SHIPHOLDING CORPORATION
                              STOCK INCENTIVE PLAN

     THIS AGREEMENT is effective as of _____________ by and between
International Shipholding Corporation, a Delaware corporation ("the Company"),
and ____________ ("Optionee").

     WHEREAS Optionee is a key employee of the Company and the Company considers
it desirable and in its best interest that Optionee be given an inducement to
acquire a proprietary interest in the Company and an added incentive to advance
the interests of the Company by possessing an option to purchase shares of the
common stock of the Company, $1.00 par value per share (the "Common Stock") in
accordance with the International Shipholding Corporation Stock Incentive Plan
(the "Plan"), which was adopted by the Board of Directors and approved by the
stockholders.

     NOW, THEREFORE, in consideration of the premises, it is agreed by and
between the parties as follows:

                                       I.

                                 Grant of Option

     The Company hereby grants to Optionee effective ___________ (the "Date of
Grant"), the right, privilege and option to purchase _____________ shares of
Common Stock (the "Option") at an exercise price of ________ per share (the
"Exercise Price"). The Option is a non-qualified stock option and shall not be
treated as an incentive stock option under Section 422 of the Internal Revenue
Code of 1986, as amended (the "Code").

                                       II.

                                Time of Exercise

     2.1 Subject to the provisions of the Plan and the other provisions of this
Agreement, the Optionee shall be entitled to exercise his Option at any time
beginning on the date hereof and ending on ________________.

     2.2 If Optionee's employment is terminated, other than as a result of
death, disability or retirement on or after reaching age 65 or early retirement
with the approval of the Board of Directors, the Option must be exercised within
30 days of the date on which Optionee ceases to be an employee.

                                       -1-

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     2.3 If an Optionee ceases to be an employee because of disability within
the meaning of Section 22(e)(3) of the Code or retirement, as described in
Section 2.2, the Option must be exercised within one year from the date on which
Optionee ceases to be an employee, but in no event later than ____________.

     2.4 In the event of Optionee's death, the Option must be exercised by his
estate, or by the person to whom such right devolves from him by reason of his
death within one year from the date of death, but in no event later than
___________.

                                      III.

                          Method of Exercise of Option

     Optionee may exercise all or a portion of the Option by delivering to the
Company a signed written notice of his intention to exercise the Option,
specifying therein the number of shares to be purchased, and accompanied by
payment of the exercise price as provided in the Plan. Upon receiving such
notice and payment, the appropriate officer of the Company shall cause the
transfer of title of the shares purchased to Optionee on the Company's stock
records and cause to be issued to Optionee a stock certificate for the number of
shares being acquired. Optionee shall not have any rights as a shareholder until
the stock certificate is issued to him.

                                       IV.

                       No Contract of Employment Intended

     Nothing in this Agreement shall confer upon Optionee any right to continue
in the employ of the Company or any of its subsidiaries, or to interfere in any
way with the right of the Company or any of its subsidiaries to terminate
Optionee's employment relationship with the Company or any of its subsidiaries
at any time.

                                       V.

                                 Binding Effect

     This Agreement shall inure to the benefit of and be binding upon the
parties hereto and their respective heirs, executors, administrators and
successors.

                                       -2-

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                                       VI.

                               Non-Transferability

     The Option granted hereby may not be transferred, assigned, pledged or
hypothecated in any manner, by operation of law or otherwise, other than by will
or by the laws of descent and distribution and shall not be subject to
execution, attachment or similar process.

                                      VII.

                             Inconsistent Provisions

     The Option granted hereby is subject to the provisions of the Plan as in
effect on the date hereof and as it may be amended. In the event any provision
of this Agreement conflicts with such a provision of the Plan, the Plan
provision shall control.

                                       -3-<PAGE>
                    COMPENSATION OF NON-MANAGEMENT DIRECTORS

     Each member of the Board of Directors of International Shipholding
Corporation who is not a member of management, other than Niels W. Johnsen,
receives an annual fee of $25,000 per year plus $1,000 for each meeting of the
Board or a committee thereof attended.<PAGE>
                 LIFE INSURANCE BENEFITS PROVIDED BY THE COMPANY
                     TO NIELS W. JOHNSEN AND ERIK F. JOHNSEN

     International Shipholding Corporation (the "Company") has agreements with
Erik F. Johnsen, Chairman of the Board of Directors and Chief Executive Officer,
and Niels W. Johnsen, a Director and former Chairman, whereby their estates will
be paid approximately $822,000 and $626,000, respectively upon death. The
Company maintains an insurance policy and has established reserves sufficient to
cover these benefits.exv10w14

 

Exhibit 10.14

FIRST AMENDMENT TO THE

AMGEN RETIREMENT AND SAVINGS PLAN

(AS AMENDED AND RESTATED EFFECTIVE AS OF JANUARY 1, 2003)

     The Amgen Retirement and Savings Plan (As Amended and Restated Effective as of January 1,
2003) (the “Plan”) is hereby amended as follows:

Effective as of January 1, 2004, Amgen Worldwide Services, Inc. shall be a Participating
Company, and Appendix A to the Plan is hereby amended to include “Amgen Worldwide Services,
Inc.”

To record this First Amendment to the Plan as set forth herein, the Company has caused its Authorized
officer to execute this document this 9th day of June, 2004.

	 	 	 	 	 
	 	AMGEN INC.

 	 
	 	By:  	/s/ Brian McNamee
 	 
	 	Title: Senior Vice President, Human Resourcesexv10w18

 

Exhibit 10.18

Annex A

SECOND AMENDMENT TO THE

AMGEN RETIREMENT AND SAVINGS PLAN

(AS AMENDED AND RESTATED EFFECTIVE AS OF JANUARY 1, 2003)

     Section 2.12 of the Amgen Retirement and Savings Plan (as Amended and Restated Effective as of
January 1, 2003) (the “Plan”) is hereby amended and restated effective June 1, 2004, as follows:

	 	2.12  	“Company” means Amgen Inc., a Delaware corporation and excludes any
disregarded entity pursuant Treasury Regulations section 301.7701-3, unless such
disregarded entity is designated as a Participating Company.

To record this Second Amendment to the Plan as set forth herein, the Company has caused its
Authorized officer to execute this document this 9th day of June, 2004.

	 	 	 	 	 
	 	AMGEN INC.

 	 
	 
	 	By:  	/s/ Brian McNamee	 
	 	 	 	 
	 
	 	Title:  	Senior Vice President, Human Resourcesexv10w52

 

Exhibit 10.52

THIRD AMENDMENT TO THE

AMGEN INC.

CHANGE OF CONTROL SEVERANCE PLAN

     The Amgen Inc. Change of Control Severance Plan (the “Plan”) is hereby amended,
effective as of January 1, 2004, unless otherwise provided herein, as follows:

	 	1.  	Section 1(M) shall be amended and restated in its entirety as follows:
	 
	 	   	“ (M) “Group I Participants” shall mean those senior executive-level staff members of the
Company, Amgen USA Inc., and Amgen Worldwide Services, Inc., and effective on July 16,
2004, Immunex Corporation, Immunex Manufacturing Corporation and Immunex Rhode Island
Corporation, whom the Company has designated as members of the Amgen Executive Committee,
as such committee shall be constituted immediately prior to a Change of Control. At or
before the occurrence of a Change of Control, the Company shall notify the Group I
Participants in writing of their status as Participants in the Plan.”
	 
	 	2.  	Section 1(N) shall be amended and restated in its entirety as follows:
	 
	 	   	“(N) “Group II Participants” shall mean those management-level staff members of the
Company, Amgen USA Inc., and Amgen Worldwide Services, Inc., and effective on July 16,
2004, Immunex Corporation, Immunex Manufacturing Corporation and Immunex Rhode Island
Corporation, at the level of Director or equivalent and above (i.e., those employees of
the Company or of Amgen USA Inc. whose positions have been designated as Salary Grade 32
or Salary Grade EL4 and above) and who are not Group I Participants, as such group shall
be constituted immediately prior to a Change of Control. At or before the occurrence of a
Change of Control, the

Company shall notify the Group II Participants in writing of their status as Participants
in the Plan.”
	 
	 	3.  	Section 1(O) shall be amended and restated in its entirety as follows:
	 
	 	   	“(O) “Group III Participants” shall mean those management-level staff members of the
Company, Amgen USA Inc., and Amgen Worldwide Services, Inc., and effective on July 16,
2004, Immunex Corporation, Immunex Manufacturing Corporation and Immunex Rhode Island
Corporation, at the level of Associate Director or equivalent (i.e., those employees of
the Company or of Amgen USA Inc. whose positions have been designated as Salary Grade 30
or Salary Grade EL2 or Salary Grade EL3), as such group shall be constituted immediately
prior to a Change of Control. At or before the occurrence of a Change of Control, the
Company shall notify the Group III Participants in writing of their status as
Participants in the Plan.”

 

 

	 	4.  	Subsection 4.1(A)(II) shall be amended and restated in its entirety as follows (the
entire Section 4.1 (A) is included to provide context for the amendment to subsection
(II)):
	 
	 	   	“4.1 Termination After Change of Control. If a Participant’s employment is
terminated during a Change of Control Period (a) by the Company other than for Cause
or Disability, or (b) by the Participant for Good Reason, the Company shall pay the
Participant the amounts, and provide the Participant with the benefits, described in
this Section 4.1:

     (A) In lieu of any further salary payments to the Participants for periods
subsequent to the Date of Termination and in lieu of any severance benefit otherwise
payable to the Participant (other than accrued vacation and similar benefits otherwise
payable upon termination of employment pursuant to Company policies and programs), the
Company shall pay to the Participant a lump sum cash payment (the “Cash Severance
Payment”) in an amount equal to the excess, if any, of

(I) the product of (x) the Participant’s Benefits Multiple, and (y) the sum of (i)
the Participant’s annual base salary in effect immediately prior to the Date of
Termination or, if higher, as in effect immediately prior to the Change of Control,
plus, (ii) the Participant’s targeted annual bonus for the year in which such Date of
Termination occurs, or, if higher, the Participant’s average annual bonus for the
three (3) years immediately prior to the Change of Control; over

(II) the aggregate value of the acceleration of vesting or exercisability of any
unvested stock options held by the Participant under any of the Company’s equity
based plans as a result of or in connection with the Change of Control as such value
is determined by the Accountants (as defined below) in accordance with the principles
of Sections 280G(d)(3) and 280G(d)(4) of the Code and Question and Answer 24 of
Proposed Treasury Regulation Section 1.280G-1 or any successor section of any
successor regulation or statute; provided however, that any stock or cash awarded to
a Participant under the Performance Award Program under the Amgen Inc. Amended and
Restated Equity Incentive Plan shall not be included in this calculation.”

[THIS SPACE INTENTIONALLY LEFT BLANK]

 

 

     To record this Third Amendment to the Plan as set forth herein, the Company has caused its Authorized
officer to execute this document this 9th day of June, 2004.

	 	 	 	 	 
	 	AMGEN INC.

 	 
	 	By:  	/s/ Brian McNamee
 	 
	 	Title: Senior Vice president, Human Resources

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