Document:

exv10wyw1

 

EXHIBIT 10.Y.1

AMENDMENT NO. 2 TO THE

EL PASO CORPORATION

2005 COMPENSATION PLAN FOR NON-EMPLOYEE DIRECTORS

     WHEREAS, El Paso Corporation (the “Company”) maintains the El Paso Corporation 2005
Compensation Plan for Non-Employee Directors (the “Plan”), effective as of May 26, 2005; and

     WHEREAS, Section 10.7 of the Plan permits the Board of Directors or the Management Committee
(as defined in the Plan) from time to time to amend the Plan, in whole or in part; and

     WHEREAS, it is intended hereby to amend the Plan to comply with Section 409A of the Internal
Revenue Code of 1986, as amended.

     NOW, THEREFORE, the Plan is amended as follows:

     1. Section 5.5 is hereby added to the Plan to read as follows:

     “5.5 Deferrals Under the Prior Plan

     Notwithstanding anything herein to the contrary, any deferrals made pursuant to
Section 5.2 of the 1995 Compensation Plan for Non-Employee Directors (“Prior Plan”)
(and any Conversion Premium set forth in Section 6.2(a) of the Prior Plan thereon)
during the calendar year 2005 shall be deemed to be deferrals pursuant to Section 5.2
of this Plan (and the Conversion Premium of Section 6.2 of this Plan).”

     2. Section 7.2 is hereby added to the Plan to read as follows:

     “7.2 Long-Term Equity Credit Under the Prior Plan

     Notwithstanding anything herein to the contrary, any Long-Term Equity Credit made
pursuant to Section 7.1 of the Prior Plan during the calendar year 2005 shall be
deemed to be a Long-Term Equity Credit under Section 7.1 of this Plan.”

     3. Section 9.3(c) is hereby removed from the Plan.

     IN WITNESS WHEREOF, this amendment has been executed by the undersigned, thereunto duly
authorized, effective as of January 1, 2007.

	 	 	 	 	 
	 	EL PASO CORPORATION

 	 
	 	By:  	/s/ Susan B. Ortenstone
 	 
	 

ATTEST:

	 	 	 	 	 
	 	 	 
	 	By:  	     /s/ Marguerite Woung-Chapman
 	 
	 	 	Corporate Secretaryexv10wzw1

 

	 	 	 	 	 

EXHIBIT 10.Z.1

AMENDMENT NO. 3 TO THE

EL PASO CORPORATION

2005 OMNIBUS INCENTIVE COMPENSATION PLAN

     WHEREAS, El Paso Corporation (the “Company”) maintains the El Paso Corporation 2005 Omnibus
Incentive Compensation Plan (the “Plan”), effective as of May 26, 2005;

     WHEREAS, under Section 19.1 of the Plan, the Board of Directors or the “Plan Administrator”
(as defined in the Plan) may amend the Plan, in whole or in part;

     WHEREAS, it is intended hereby to amend the Plan to comply with Section 409A of the Internal
Revenue Code of 1986, as amended;

     NOW, THEREFORE, the Plan is amended as follows:

     1. Section 8.4 is hereby amended in its entirety to read as follows:

     “8.4 Form and Timing of Payment

     The payment described in Section 8.3 shall be made in shares of Common Stock,
or in cash, or partly in shares of Common Stock and partly in cash, at the
discretion of the Plan Administrator and set forth in the Award Agreement. The
value of any fractional shares shall be paid in cash. Payment shall be made in a
lump sum or installments as prescribed by the Plan Administrator and set forth in
the Award Agreement; provided that each Award Agreement shall comply with the timing
of payment requirements set forth in Section 409A of the Code, including, but not
limited to the timing of payments to “specified employees” as defined in Section
409A(a)(2)(B)(i) of the Code. If a number of shares of Common Stock is to be
converted into an amount of cash on any date, or if an amount of cash is to be
converted into a number of shares of Common Stock on any date, such conversion shall
be done at the then-current Fair Market Value of the Common Stock on such date.”

     2. Section 10.5 is hereby amended in its entirety to read as follows:

     “10.5 Issuance of Shares; Settlement of Awards

     When the restrictions imposed by Section 10.2 expire or otherwise lapse with
respect to one or more Restricted Stock Units, Restricted Stock Units shall be
settled (i) in cash or (ii) by the delivery to the Participant of the number of shares of Common
Stock equal to the number of the Participant’s Restricted Stock
Units that are vested, or any combination thereof, as the Plan Administrator shall
determine. The payment hereunder shall comply with the timing of payment
requirements set forth in Section 409A of the Code, including, but not limited to
the timing of payments to “specified employees” as defined in Section
409A(a)(2)(B)(i) of the Code. The delivery of shares pursuant to this Section

 

 

10.5
shall be subject to any required share withholding to satisfy tax withholding
obligations pursuant to Section 17.10. Any fractional shares
subject to such Restricted Stock Units shall be paid to the Participant in
cash.”

     3. Section 11.4 (a) is hereby amended in its entirety to read as follows:

     “(a) Participants shall receive their Incentive Awards in any combination of
cash and/or other Awards under the Plan as determined by the Plan Administrator.
The payment hereunder shall comply with the timing of payment requirements set forth
in Section 409A of the Code, including, but not limited to the timing of payments to
“specified employees” as defined in Section 409A(a)(2)(B)(i) of the Code.”

     4. Section 12.4 is hereby amended in its entirety to read as follows:

     “12.4 Payment of Cash Awards and Other Stock-Based Awards

     Payment, if any, with respect to a Cash Award or an Other Stock-Based Award
shall be made in accordance with the terms of the Award, in cash or shares of Common
Stock as the Plan Administrator determines. The value of any fractional shares
shall be paid in cash. The payment hereunder shall comply with the timing of
payment requirements set forth in Section 409A of the Code, including, but not
limited to the timing of payments to “specified employees” as defined in Section
409A(a)(2)(B)(i) of the Code.”

     5. Section 20 is hereby amended in its entirety to read as follows:

“SECTION 20 DEFERRAL ELECTIONS

     The Plan Administrator may, to the extent permitted by applicable law,
including, but not limited to Section 409A of the Code, permit Participants to defer
Awards under the Plan. Any such deferrals shall be subject to such terms,
conditions and procedures that the Plan Administrator may establish from time to
time in its sole discretion.”

     IN WITNESS WHEREOF, this amendment has been executed by the undersigned, thereunto duly
authorized, effective as of January 1, 2007.

	 	 	 	 	 
	 	EL PASO CORPORATION

 	 
	 	By:  	/s/ Susan B. Ortenstone
 	 
	 

ATTEST:

	 	 	 	 	 
	 	 	 
	 	By:  	     /s/ Marguerite Woung-Chapman
 	 
	 	 	Corporate Secretary 	 
	 	 	 	 

-2-exv10wbbw1

 

	 	 	 	 	 

EXHIBIT 10.BB.1

AMENDMENT NO. 1 TO THE

EL PASO CORPORATION

2005 SUPPLEMENTAL BENEFITS PLAN

     WHEREAS, El Paso Corporation (the “Company”) maintains the El Paso Corporation 2005
Supplemental Benefits Plan (the “Plan”), effective as of January 1, 2005;

     WHEREAS, Section 6.7 of the Plan permits the Board of Directors or the Compensation Committee
of the Board of Directors from time to time to amend the Plan, in whole or in part;

     WHEREAS, it is intended hereby to amend the Plan to comply with Section 409A of the Internal
Revenue Code of 1986, as amended.

     NOW, THEREFORE, the Plan is amended as follows:

     1. Section 2.12 is hereby amended in its entirety to read as follows:

     “2.12 Specified Employee

     “Specified Employee” means any Participant who is a “specified employee”
pursuant to Section 409A(a)(2)(B)(i) of the Code.”

     2. Section 5.1 is hereby amended to add the following paragraph to the end of Section 5.1:

     “Notwithstanding the foregoing, Participants who were not vested in their
accrued supplemental pension benefits under the Frozen Plan as of December 31, 2004
shall receive such accrued supplemental pension benefits under this Plan so long as
the Participants become vested in such supplemental pension benefit as set forth in
the preceding paragraph.”

     3. Section 5.4 is hereby amended in its entirety to read as follows:

     “5.4 Time and Manner of Payment

     The payment of any benefits shall be made as provided below. Such payment or
payments shall constitute a complete discharge of all obligations to the Participant
and his or her Surviving Spouse or Beneficiary under the Plan.

     (a) Supplemental Pension Benefit Payments. Subject to Section 5.4(d), the
payment of any supplemental pension benefits pursuant to Section 5.1 owed to a
Participant (or his or her Surviving Spouse) shall be made in lump sum as soon as
practicable after the Participant’s termination of employment with the Employer as
determined by the Management Committee in its sole discretion; provided however,
that the payment shall be made no later than the later to occur of (i) the last day
of the calendar year in which the Participant’s termination of employment occurs or
(ii) the 90th day following the Participant’s termination of

 

 

employment. The amount
of the payment under this subparagraph 5.4(a) shall be determined pursuant to
Section 5.5;
provided, however, no such payment shall be required to be made to the
Participant if the amount of the payment the Participant is entitled to receive for
supplement pension benefits under this Plan is less than $100.

     (b) Supplemental RSP Benefit Payments. Subject to Section 5.4(d), the payment
of any supplemental RSP benefits pursuant to Section 5.2 owed to a Participant (or
his or her Beneficiary) shall be made in a lump sum as soon as practicable after the
Participant’s termination of employment with the Employer as determined by the
Management Committee in its sole discretion and shall be in an amount equal to the
Participant’s ledger account balance at the time of such payment; provided however,
that the payment shall be made no later than the later to occur of (i) the last day
of the calendar year in which the Participant’s termination of employment occurs or
(ii) the 90th day following the Participant’s termination of employment. Not
withstanding the above, no such payment shall be required to be made to the
Participant if the amount of the payment the Participant is entitled to receive for
supplemental RSP benefits under this Plan is less than $100.

     (c) Other Supplemental Benefit Payments. Subject to Section 5.4(d), the payment
of any other supplemental benefits pursuant to another plan or program maintained by
the Company or a Participant’s employment contract or other agreement with the
Company under Section 5.3 shall be made as provided in such other applicable plan,
program, employment contract or agreement.

     (d) Required Delay in Payment of Benefits for Specified Employees.
Notwithstanding Sections 5.4(a), 5.4(b) and 5.4(c), the payment of any benefit owed
to any Participant who is a Specified Employee pursuant to the Plan which is not
otherwise exempt from Section 409A of the Code shall be paid in a lump sum during a
30-day period which commences on the date which is the day after the six-month
anniversary of such Specified Employee’s termination of employment; provided,
however, that this Section 5.4(d) shall not apply if the Participant’s termination
occurs by reason of his or her death.”

     IN WITNESS WHEREOF, this amendment has been executed by the undersigned, thereunto duly
authorized, effective as of January 1, 2007.

	 	 	 	 	 
	 	EL PASO CORPORATION

 	 
	 	By:  	/s/ Susan B. Ortenstone
 	 
	 

ATTEST:

	 	 	 	 	 
	 	 	 
	 	By:  	     /s/ Marguerite Woung-Chapman
 	 
	 	 	Corporate Secretary 	 
	 	 	 	 
	 

-2-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}]]