Document:

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                                                                    EXHIBIT 10.6

                      NON-QUALIFIED STOCK OPTION AGREEMENT

                              MARINER ENERGY, INC.
                              STOCK INCENTIVE PLAN

     Optionee:
                            ------------------------

     Date of Grant:              March 11, 2005

     NQO Number
                            ------------------------

1.   Grant of Options. Mariner Energy, Inc. (the "Company") hereby grants to
     you the right and option ("Options") to purchase all or any part of an
     aggregate of [______] Common Shares ("Shares") of Mariner Energy, Inc. on
     the terms and conditions set forth herein and in the Mariner Energy, Inc.
     Stock Incentive Plan (the "Plan"), which is incorporated herein by
     reference as a part of this Agreement. This grant of Options is not
     intended to qualify as incentive stock options. In the event of any
     conflict between the terms of this Agreement and the Plan, the Plan shall
     control. Capitalized terms used but not defined in this Agreement shall
     have the meaning attributed to such terms under the Plan, unless the
     context requires otherwise.

2.   Exercise Price. The exercise price per Share purchased pursuant to the
     exercise of the Options shall be $14.00, subject to adjustment as provided
     in the Plan.

3.   Vesting and Exercise of Option. Subject to the further provisions of this
     Agreement, the Options shall become vested and may be exercised in
     accordance with the following schedule, by written notice to the Company
     at its principal executive office addressed to the attention of its
     Secretary (or such other officer or employee of the Company as the Company
     may designate from time to time):

<Table>
<Caption>
                   Anniversary of                   Cumulative
                   Date of Grant                 Vested Percentage
                   -------------                 -----------------
<S>                                                   <C>
                  Less than 1 year                         0%
                      1 year                          33 1/3%
                      2 years                         66 2/3%
                  3 years or more                        100%
</Table>

     Notwithstanding the above schedule, but subject to the further provisions
     hereof, upon the occurrence of the following events the Options shall vest
     and become exercisable as provided below:

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     (a)  Disability. If you are entitled to benefits under Section 7(d) of
          your Employment Agreement entered into with the Company, dated
          February 7, 2005 ("Employment Agreement") or, if the Employment
          Agreement has terminated, your employment with the Company terminates
          by reason of a disability that entitles you to benefits under the
          Company's or a Subsidiary's long-term disability plan, the Options
          shall become fully vested and, subject to the further provisions of
          this Agreement, may be exercised at any time during the one-year
          period following such termination by you or by your guardian or legal
          representative (or, if you die during such one-year period, by your
          estate or the person who acquires the Options by will or the laws of
          descent and distribution).

     (b)  Death. If you die while in the employ of the Company, the Options
          shall become fully vested and, subject to the further provisions of
          this Agreement, your estate (or the person who acquires the Options by
          will or the laws of descent and distribution) may exercise the Options
          at any time during the one-year period following the date of your
          death.

     (c)  Termination by the Company other than for Cause. If your employment
          with the Company is terminated by the Company for any reason other
          than for Cause (as defined below), the Options shall become 50% vested
          (to the extent less than 50% vested) and, subject to the further
          provisions of this Agreement, may be exercised at any time during the
          three-month period following such termination by you or by your
          guardian or legal representative (or by your estate or the person who
          acquires the Options by will or the laws of descent and distribution
          or otherwise by reason of your death if you die during such period),
          but only as to the vested number of Shares (including the Shares, if
          any, that became vested under this Section 3(c)) that you were
          entitled to purchase hereunder as of the date your employment so
          terminates. For purposes of this Section 3, the term "Cause" shall
          have the have the meaning ascribed to such term in your Employment
          Agreement, or if the Employment Agreement has terminated, shall mean
          (i) a material failure to perform your duties, (ii) your conviction of
          or plea of nolo contendere for any felony or any misdemeanor involving
          moral turpitude, dishonesty, fraud or breach of trust, (iii) your
          willful engagement in gross misconduct in the performance of your
          duties, (iv) your substance abuse, (v) your misappropriation of funds,
          or (vi) your disparagement of the Company or any Subsidiary or any of
          their respective managements or employees.

     (d)  Termination For Cause or other than for Good Reason. Except as
          otherwise provided in Section 3(f) below, if your employment with the
          Company is terminated by the Company for Cause or by you other than
          for a Good Reason (as defined below) the Options, whether or not then
          vested, shall immediately cease to be exercisable upon such
          termination and shall be cancelled automatically without payment. For
          purposes of this Section 3, the term "Good Reason" shall have the
          meaning ascribed to such term in your Employment Agreement, or if the
          Employment Agreement has terminated, shall mean (i) a material adverse
          change in the nature or scope of your authorities, powers, duties and
          functions performed; (ii) a material reduction in your base salary or
          in the cash bonus opportunities

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          made available to you, excluding opportunities under (A) any plan,
          program, arrangement or agreement providing for compensation in the
          form of overriding royalty interests or income from overriding royalty
          interests, (B) any equity-based compensation plans, programs,
          arrangements or agreements, including, but not limited to, stock
          options, and (C) 401(k) and profit-sharing plans; or (iii) your
          permanent place of employment with the Company is changed to a
          location that is more than 50 miles from your location prior to such
          change.

     (e)  For Good Reason.  Except as otherwise provided in Section 3(f) below,
          if your employment with the Company is terminated by the Company for
          Good Reason, the Options shall become 50% vested (to the extent less
          than 50% vested) and, subject to the further provisions of this
          Agreement, may be exercised at any time during the three-month period
          following such termination by you or by your guardian or legal
          representative (or by your estate or the person who acquires the
          Options by will or the laws of descent and distribution or otherwise
          by reason of your death if you die during such period), but only as to
          the vested number of Shares (including the Shares, if any, that became
          vested under this Section 3(e)) that you were entitled to purchase
          hereunder as of the date your employment so terminates.

     (f)  Change of Control.  Upon the occurrence of a Change of Control (as
          defined in your Employment Agreement entered into with the Company,
          dated February 7, 2005 ("Employment Agreement")) that occurs while you
          are employed by the Company or within nine months following a
          termination of your employment with the Company that entitles you to
          severance under Section 7(c) of your Employment Agreement, the Options
          shall become fully vested to the extent not already vested.

     For purposes of this Agreement, "employment with the Company" shall include
     being an employee or a director of the Company or a Subsidiary.

     There is no minimum or maximum number of Shares that must be purchased upon
     exercise of the Options. Instead, the Option may be exercised, at any time
     and from time to time, to purchase any number of Shares that are then
     vested and exercisable according to the provisions of this Agreement.

     All Options that are not vested on your termination of employment as
     provided above shall be automatically cancelled without payment upon your
     termination, except that if your employment with the Company terminated and
     you were entitled to severance benefits under Section 7(c) of your
     Employment Agreement, then the non-vested portion of this Option, if any,
     shall remain outstanding (but not exercisable) until the date that is nine
     months after your termination from the Company. If a Change of Control
     occurs during such nine month period, the non-vested portion of this Option
     that becomes vested as a result of such Change of Control may be exercised
     subject to the further provisions of this Agreement, at any time during the
     three month period following such Change of Control by you or by your
     guardian or legal representative (or by your estate or the

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<PAGE>

     person who acquires the Options by will or the laws of descent and
     distribution or otherwise by reason of your death if you die during such
     period).

4.   Term. Notwithstanding any of the foregoing, the Options shall not be
     exercisable in any event after the expiration of 10 years from the Date of
     Grant.

5.   Payment of Exercise Price. The purchase price of the Shares as to which
     the Options are exercised shall be paid in full at the time of exercise
     (a) in cash (including by check acceptable to the Company), (b) if the
     Shares are readily tradable on a national securities market or exchange,
     through a "cashless broker exercise" program approved in advance by the
     Company, (c) any other method approved by the Company, including, with the
     consent of the Committee, by withholding a number of Shares that would
     otherwise be delivered on exercise of the Option that have an aggregate
     Fair Market Value that does not exceed the aggregate exercise price for the
     Options being then exercised, or (d) any combination of the foregoing. No
     fraction of a Share shall be transferred upon exercise of the Options.
     Unless and until a certificate or certificates representing such Shares
     shall have been transferred by the Company to you, you (or the person
     permitted to exercise the Options in the event of your death) shall not be
     or have any of the rights or privileges of a shareholder of the Company
     with respect to Shares acquirable upon an exercise of the Options.

6.   Withholding of Tax. To the extent that the exercise of an Option results
     in the receipt of compensation by you with respect to which the Company or
     a Subsidiary has a tax withholding obligation pursuant to applicable law,
     unless other arrangements have been made by you that are acceptable to the
     Company or such Subsidiary, you shall either deliver to the Company or the
     Subsidiary such amount of money as the Company or the Subsidiary may
     require to meet its withholding obligations under such applicable law or
     have the Company withhold a number of Shares that would otherwise be
     delivered on exercise or vesting that have an aggregate Fair Market Value
     that does not exceed the amount of taxes to be withheld; provided, however,
     that if you fail to satisfy the Company's or the Subsidiary's tax
     withholding obligations, the Company, in its sole discretion, may withhold
     a number of Shares that would otherwise be delivered on exercise or vesting
     that have an aggregate Fair Market Value equal to the amount of taxes
     required to be withheld. No delivery of Shares shall be made pursuant to
     the exercise of an Option under this Agreement until you have paid or made
     arrangements approved by the Company or the Subsidiary to satisfy in full
     the applicable tax withholding requirements of the Company or Subsidiary.

     Restrictions. By accepting this grant, you agree that the Shares which you
     may acquire by exercising the Options will not be sold or otherwise
     disposed of in any manner which would constitute a violation of any
     applicable federal or state securities laws. You also agree that (i) the
     book entry made (or the certificates, if any are issued) representing the
     Shares purchased under the Options may bear such restriction, restrictions,
     legend or legends as the Committee deems appropriate in order to assure
     compliance with applicable securities laws, (ii) the Company may refuse to
     register the transfer of the Shares purchased under the Options on the
     transfer records of the Company if such proposed transfer would in the
     opinion of counsel satisfactory to the Company constitute

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     a violation of any applicable securities law, and (iii) the Company may
     give related instructions to its transfer agent, if any, to stop
     registration of the transfer of the Shares purchased under the Options.

8.   Limitations Upon Transfer. All rights under this Agreement shall belong to
     you alone and may not be transferred, assigned, pledged, or hypothecated by
     you in any way (whether by operation of law or otherwise), other than by
     will or the laws of descent and distribution and shall not be subject to
     execution, attachment, or similar process. Upon any attempt by you to
     transfer, assign, pledge, hypothecate, or otherwise dispose of such rights
     contrary to the provisions in this Agreement or the Plan, or upon the levy
     of any attachment or similar process upon such rights, such rights shall
     immediately become null and void.

9.   Binding Effect. This Agreement shall be binding upon and inure to the
     benefit of any successors to the Company and all persons lawfully claiming
     under you.

10.  Entire Agreement. This Agreement, the Plan, and the Employment Agreement
     constitute the entire agreement of the parties with regard to the subject
     matter hereof and thereof, and contain all the covenants, promises,
     representations, warranties and agreements between the parties with respect
     to the Option granted hereby. Without limiting the scope of the preceding
     sentence, all prior understanding and agreements, if any, among the parties
     hereto relating to the subject matter hereof and thereof are hereby null
     and void and of no further force and effect.

11.  Modifications. Except as provided below, any modification of this Agreement
     shall be effective only if it is in writing and signed by both you and an
     authorized officer of the Company. Notwithstanding anything in the Plan or
     this Agreement to the contrary, if the Committee determines that the terms
     of this grant do not, in whole or in part, satisfy the requirements of new
     Section 409A of the Internal Revenue Code, the Committee, in its sole
     discretion, may unilaterally modify this Agreement in such manner as it
     deems appropriate to comply with such section and any regulations or
     guidance issued thereunder.

12.  Governing Law. This Agreement shall be governed by, and construed in
     accordance with, the laws of the State of Texas, without regard to
     conflicts of laws principles thereof.

     IN WITNESS WHEREOF, the Company has caused this Agreement to be executed
by its duly authorized officer all effective as of the day and year first above
written.

                                   MARINER ENERGY, INC.

                                   By:
                                      ---------------------------------------
                                      Scott D. Josey
                                      Chief Executive Officer and President

                                  -5-exv10w7

 

Exhibit 10.7

Restricted Stock Agreement

MARINER ENERGY, INC.

AMENDED AND RESTATED STOCK INCENTIVE PLAN

	 	 	 	 	 
	     Grantee:

	 	 
	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	     Date of Grant:
	 	 	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	     RS Grant Number:
	 	 	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	     Number of Restricted Shares Granted:
	 	 	 	 
	 

	 	 	 	 

          1. Notice of Grant. Subject to the terms and conditions of the Plan and this
Agreement and subject to your execution of this Agreement within 14 days after the Date of Grant,
you are hereby granted pursuant to the Mariner Energy, Inc. Amended and Restated Stock Incentive
Plan, as amended (the “Plan”), the above number of restricted shares of Common Stock (“Restricted
Stock”) of Mariner Energy, Inc. (the “Company”). If you fail to execute this Agreement within 14
days after the Date of Grant, the grant of Restricted Stock and this Agreement shall be void as of
the Date of Grant.

          2. Vesting of Restricted Stock. Subject to the further provisions of this Agreement,
if you continue in service as a Director until the dates specified below, the shares of Restricted
Stock shall become vested in accordance with the following schedule:

          Notwithstanding the above vesting schedule, but subject to the further provisions hereof, upon
the occurrence of the following events the unvested shares of Restricted Stock shall vest or be
forfeited as provided below:

          (a) Disability. If you should cease to serve as a Director of the Company by
reason of a disability, the unvested shares of Restricted Stock shall become fully vested.
For purposes of this Agreement, the term “disability” shall mean the inability or incapacity
of the Grantee to perform the essential functions of the Director’s position as a director
of the Company. Such inability or incapacity shall be documented to the reasonable
satisfaction of the Board by appropriate correspondence from physicians who are reasonably
satisfactory to the Board.

          (b) Death. If you die while serving as a Director of the Company, the unvested
shares of Restricted Stock shall become fully vested.

          (c) Change of Control. If you have served as a Director of the Company
continuously from the Date of Grant to the date upon which a Change of Control occurs, then
the unvested shares of Restricted Stock shall become fully vested upon the date of such
Change of Control.

 

 

          For purposes of this Agreement, “Change of Control” shall mean, after the Date of
Grant, (i) any person or group of affiliated or associated persons acquires more than 35% of
the voting power in the Company; (ii) the consummation of a sale of all or substantially all
of the assets of the Company; (iii) the dissolution of the Company; or (iv) the consummation
of any merger, consolidation, or reorganization involving the Company in which, immediately
after giving effect to such merger, consolidation or reorganization, less than 51% of the
total voting power of outstanding stock of the surviving or resulting entity is then
“beneficially owned” (within the meaning of Rule 13d-3 under the Securities Exchange Act of
1934, as amended) in the aggregate by the stockholders of the Company immediately prior to
such merger, consolidation or reorganization.

          (d) Termination of Service. If you cease to serve as a Director of the Company
for any reason other than as provided in paragraph 3(a) or 3(b) above, the unvested shares
of Restricted Stock shall be forfeited without consideration as of the date of termination
of service.

          All cash dividends on unvested shares of Restricted Stock held by you shall be paid to you no
later than the later of (i) the end of the calendar year in which the dividends are paid to
shareholders of Company Common Stock or (ii) the 15th day of the third month following
the date the dividends are paid to shareholders. Any stock dividends shall result in an automatic
adjustment to the number of shares of Restricted Stock subject to the vesting provisions of this
award in accordance with the terms of the Plan.

          3. Book Entry. A book entry evidencing the shares of Restricted Stock shall be made
in your name in the books of the Company maintained by its transfer agent, pursuant to which you
shall have all of the rights of a shareholder of the Company (except with respect to dividends as
provided above) with respect to the shares of Restricted Stock, including, without limitation,
voting rights. The book entry shall reflect the restrictions on transfer set forth in Section 4
below. Upon vesting, the Company shall cause the book entry to be amended to remove any
restrictions (except for any restrictions required pursuant to applicable securities laws or any
other agreement to which you are a party) with respect to the shares of Restricted Stock that have
vested.

          4. Nontransferability of Restricted Stock. Prior to vesting, you may not sell,
transfer, pledge, exchange, hypothecate or dispose of the shares of Restricted Stock in any manner
otherwise than by will or by the laws of descent or distribution. A breach of the terms of this
Agreement shall cause a forfeiture of all shares of unvested Restricted Stock.

          5. Entire Agreement; Governing Law. The Plan is incorporated herein by reference.
The Plan and this Agreement constitute the entire agreement of the parties with respect to the
subject matter hereof and thereof and supersede in their entirety all prior undertakings and
agreements of the Company and you with respect to the subject matter hereof, and may not be
modified adversely to your interest except by means of a writing signed by the Company and you.
This Agreement is governed by the internal substantive laws, but not the choice of law rules, of
the State of Texas.

          6. Withholding of Tax. To the extent that the receipt of the shares of Restricted
Stock or the vesting thereof results in income to you for federal, state or other tax purposes,
unless the Company agrees otherwise, you shall either pay the Company an amount of cash equal to
the Company’s tax withholding obligations or have the Company withhold and cancel from the number
of shares of Restricted Stock awarded you such number of shares of Restricted Stock as the Company
determines to be necessary to satisfy the tax required to be

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withheld by the Company; provided however, that if you fail to satisfy the Company’s tax
withholding obligations, the Company, in its sole discretion, may withhold and cancel from the
number of shares of Restricted Stock awarded you such number of shares of Restricted Stock as it
determines to be necessary to satisfy the tax required to be withheld by the Company.

          7. Amendment. Except as provided below, this Agreement may not be modified in any
respect by any verbal statement, representation or agreement or by any employee, officer, or
representative of the Company or by any written agreement unless signed by you and by an officer of
the Company who is expressly authorized by the Company to execute such document. Notwithstanding
anything in the Plan or this Agreement to the contrary, if the Committee determines that the terms
of this grant do not, in whole or in part, satisfy the requirements of Section 409A of the Internal
Revenue Code, to the extent applicable, the Committee, in its sole discretion, may unilaterally
modify this Agreement in such manner as it deems appropriate to comply with such section and any
regulations or guidance issued thereunder.

          8. Status of Stock. You agree that the shares of Restricted Stock issued under this
Agreement will not be sold or otherwise disposed of in any manner that would constitute a violation
of the terms and provisions of any applicable federal or state securities laws. You also agree
that (i) the book entry made (or the certificates, if any are issued) representing the shares of
Restricted Stock may bear such restriction, restrictions, legend or legends as the Committee deems
appropriate, (ii) the Company may refuse to register the transfer of the Restricted Stock on the
stock transfer records of the Company if such proposed transfer would, in the opinion of counsel
satisfactory to the Company, be contrary to the terms and provisions of any applicable securities
law, and (iii) the Company may give related instructions to its transfer agent, if any, to stop
registration of the transfer of the Restricted Stock.

          9. General. You agree that the shares of Restricted Stock are granted under and
governed by the terms and conditions of the Plan and this Agreement. In the event of any conflict,
the terms of the Plan shall control. Capitalized terms used but not defined herein shall have the
meanings assigned such terms in the Plan.

	 	 	 	 	 
	 	 	MARINER ENERGY, INC.
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:
	 
	 	 	 	 
	 	 	[NAME]
	 
	 	 	 	 
	 	 	 
	 	 	Signature

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