Document:

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                                                                   EXHIBIT 10.FF

                           INDEMNIFICATION AGREEMENT

         This Indemnification Agreement (this "Agreement") is made and delivered
this _____ day of _____________, _____, by El Paso Corporation (the "Company"),
to and for the benefit of _______________ ("Participant").

                                    RECITALS

         WHEREAS, in order to induce Participant to continue as a member of the
Company's Board of Directors ("Board"), the Company is executing and delivering
to Participant this Indemnification Agreement.

         NOW, THEREFORE, in consideration of the foregoing, the mutual covenants
contained herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Company hereby agrees as
follows:

SECTION 1. RIGHT TO INDEMNIFICATION

         If Participant is made a party or is threatened to be made a party to
or is involved (including, without limitation, as a witness) in any actual or
threatened action, suit or proceeding, whether civil, criminal, administrative
or investigative (hereinafter a "proceeding"), by reason of the fact that he is
or was a Director of the Company (or of any subsidiary of the Company) or is or
was serving at the request of the Company or the Board of Directors, including
service with respect to any employee benefit plan or any subsidiary of the
Company, whether the basis of such proceeding is alleged action in an official
capacity as a Director or in any other capacity while serving as a Director, he
shall be indemnified and held harmless by the Company to the fullest extent
permitted by the General Corporation Law of the State of Delaware, as the same
exists or may hereafter be amended (but, in the case of any such amendment, only
to the extent that such amendment permits the Company to provide broader
indemnification rights than said law permitted the Company to provide prior to
such amendment), or by other applicable law as then in effect, against all
expense, liability and loss (including attorneys' fees, judgments, fines, ERISA
excise taxes or penalties and amounts to be paid in settlement) actually and
reasonably incurred or suffered by him in connection therewith and such
indemnification shall continue after Participant has ceased to be a Director and
shall inure to the benefit of Participant's heirs, executors and administrators;
provided, however, that except as provided in Section 2 of this Agreement with
respect to proceedings seeking to enforce rights to indemnification or to
advancement of expenses, the Company shall be required to indemnify Participant
in connection with a proceeding (or part thereof) initiated by Participant only
if such proceeding (or part thereof) was authorized by the Board. The right to
indemnification conferred in this Agreement shall include the right to be paid
by the corporation the reasonable expenses (including attorneys' fees) incurred
in defending any such proceeding in advance of its final disposition
(hereinafter an "advancement of expenses"); further provided, however, that, if
the General Corporation Law of the State of Delaware requires, an advancement of
expenses incurred by Participant in his capacity as a Director (and not in any
other capacity in which service was or is rendered by Participant while a
Director, including, without limitation, service to an employee benefit plan)

<PAGE>

shall be made only upon delivery to the Company of an undertaking, if permitted
by Federal Law, by or on behalf of Participant, to repay all amounts so advanced
if it shall ultimately be determined that he is not entitled to be indemnified
under this Agreement, or otherwise, and provided further that except as provided
in Section 2 of this Agreement with respect to proceedings seeking to enforce
rights to indemnification or an advancement of expenses, the Company shall be
required to advance expenses to Participant in connection with a proceeding
initiated by him only if such proceeding was authorized by the Board.

SECTION 2. RIGHT TO BRING SUIT

         If a claim under Section 1 of this Agreement is not paid in full by the
Company within sixty (60) days after a written claim has been received by the
Company, except in the case of a claim for an advancement of expenses, in which
case the applicable period shall be twenty (20) days, Participant may at any
time thereafter bring suit against the Company to recover the unpaid amount of
the claim and, to the extent successful in whole or in material part,
Participant shall be entitled to be paid the expense of prosecuting such suit.
Participant shall be presumed to be entitled to indemnification under this
Agreement upon submission of a written claim (and, in an action brought to
enforce a claim for an advancement of expenses, where the required undertaking,
if any is required, has been tendered to the Company), and thereafter the
Company shall have the burden of proof to overcome the presumption that
Participant is not so entitled. Neither the failure of the Company (including
its Board, independent legal counsel, or its stockholders), to have made a
determination prior to the commencement of such suit that indemnification of
Participant is proper in the circumstances, nor an actual determination by the
Company (including its Board, independent legal counsel or its stockholders)
that Participant is not entitled to indemnification, shall be a defense to the
suit or create a presumption that Participant is not so entitled.

SECTION 3. NONEXCLUSIVITY OF RIGHTS

         The rights to indemnification and to the advancement of expenses
conferred in this Agreement are in addition to and shall not be exclusive of any
other right Participant may have or hereafter acquire under any statute,
provision of the Restated Certificate of Incorporation of the Company or its
By-laws, or under any other plan, program, arrangement, agreement, vote of
stockholders or disinterested Directors or otherwise.

SECTION 4. INSURANCE, CONTRACTS AND FUNDING

         The Company may maintain insurance, at its expense, to protect itself
and Participant against any expense, liability or loss, whether or not the
Company would have the power to indemnify Participant against such expense,
liability or loss under the General Corporation Law of the State of Delaware.
The Company may enter into contracts with Participant in furtherance of the
provisions of this Agreement and may create a trust fund, grant a security
interest or use other means (including, without limitation, a letter of credit)
to ensure the payment of such amounts as may be necessary to effect
indemnification as provided in this Agreement. To the extent the Company
maintains an insurance policy or policies providing directors' and officers'

                                     - 2 -

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liability insurance, Participant shall be covered by such policy or policies, in
accordance with its or their terms, to the maximum extent of the coverage
available for any Company director or officer.

SECTION 5. CHANGE OF CONTROL

         (a) A "Change in Control" of the Company shall be deemed to have
occurred if (i) any "person" (as such term is used in Section 12(d) and 14(d) of
the Securities Exchange Act of 1934, as amended), other than a trustee or other
fiduciary holding securities under an employee benefit plan of the Company or a
corporation owned directly or indirectly by the stockholders of the Company in
substantially the same proportions as their ownership of stock of the Company,
is or becomes the "beneficial owner" (as defined in Rule 13d-3 under said Act),
directly or indirectly, of securities of the Company representing 20% or more of
the total voting power represented by the Company's then outstanding voting
securities, or (ii) during any period of two consecutive years, individuals who
at the beginning of such period constitute the Board of Directors of the Company
and any new director whose election by the Board of Directors or nomination for
election by the Company's stockholders was approved by a vote of at least a
majority of the directors then still in office who either were directors at the
beginning of the period or whose election or nomination for election was
previously so approved, cease for any reason to constitute a majority thereof,
or (iii) the stockholders of the Company approve a merger or consolidation of
the Company with any other corporation, other than a merger or consolidation
which would result in the voting securities of the Company outstanding
immediately prior thereto continuing to represent (either by remaining
outstanding or by being converted into voting securities of the surviving
entity) at least 80% of the total voting power represented by the voting
securities of the Company or such surviving entity outstanding immediately after
such merger or consolidation, or the stockholders of the Company approve a plan
of complete liquidation of the Company or an agreement for the sale or
disposition by the Company of all or substantially all the Company's assets.

         (b) Change in Control of the Company. The Company agrees that if there
is a Change in Control of the Company, then with respect to all matters
thereafter arising concerning the rights of Participant to indemnity payments
and expense advances under this Agreement, any other agreements, the Restated
Certificate of Incorporation or the By-laws now or hereafter in effect relating
to a proceeding, the Company shall seek legal advice only from special
independent counsel selected by Participant and approved by the Company (which
approval shall not be unreasonably withheld), and who has not otherwise
performed services for the Company (other than in connection with such matters)
or Participant. In the event that Participant and the Company are unable to
agree on the selection of the special independent counsel, such special
independent counsel shall be selected by lot from among at least five law firms
in New York City, New York or Houston, Texas selected by Participant, each
having no less than 50 partners. Such selection shall be made in the presence of
Participant (and his legal counsel or either of them, as Participant may elect).
Such special independent counsel, among other things, shall determine whether
and to what extent the Participant would be permitted to be indemnified under
applicable law and shall render its written opinion to the Company and
Participant to such effect.

                                     - 3 -
<PAGE>

         The Company agrees to pay the reasonable fees of the special
independent counsel referred to above and to fully indemnify such counsel
against any and all expenses (including attorneys' fees), claims, liabilities
and damages arising out of or relating to this Agreement or its engagement
pursuant hereto.

SECTION 6. NO MODIFICATION

         No supplement, modification or amendment of this Agreement shall be
binding unless executed in writing by both of the parties hereto. No waiver of
any of the provisions of this Agreement shall be deemed or shall constitute a
waiver of any other provisions hereof (whether or not similar) nor shall such
waiver constitute a continuing waiver. Any waiver to this agreement shall be in
writing.

SECTION 7. SUBROGATION

         In the event of payment under this Agreement, the Company shall be
subrogated to the extent of such payment to all of the rights of recovery of
Participant, who shall execute all papers required and shall do everything that
may be necessary to secure such rights, including the execution of such
documents necessary to enable the Company effectively to bring suit to enforce
such rights.

SECTION 8. NO DUPLICATION OF PAYMENTS

         The Company shall not be liable under this Agreement to make any
payment in connection with any proceeding against Participant to the extent
Participant has otherwise actually received payment (under any insurance policy
or otherwise) of the amounts otherwise indemnifiable hereunder.

SECTION 9. NOTIFICATION AND DEFENSE OF PROCEEDINGS

         Participant agrees that he will use all reasonable efforts to notify
the Company promptly after receipt by Participant of notice of the commencement
of any proceeding if he anticipates that a request for indemnification in
respect thereof is to be made against the Company under this Agreement; but
failure to so notify the Company will not relieve the Company from any
indemnification or other obligation or liability which it may have to
Participant. With respect to any such proceeding as to which Participant
notifies the Company of the commencement thereof:

         (a) the Company will be entitled to participate therein at its own
expense; and

         (b) except as otherwise provided below, to the extent that it may wish,
the Company jointly with any other indemnifying party similarly notified will be
entitled to assume the defense thereof, with counsel satisfactory to
Participant. After notice from the Company to Participant of its election to
assume the defense thereof, the Company will not be liable to Participant under
this Agreement for any legal or other expenses subsequently incurred by
Participant in connection with the defense thereof other than reasonable costs
of investigation or as otherwise provided below. Participant shall have the
right to employ its counsel in such proceeding, but the fees and expenses of
such counsel incurred after notice from the Company of its assumption

                                     - 4 -
<PAGE>

of the defense thereof shall be at the expense of Participant unless (i) the
employment of counsel by Participant has been authorized by the Company, (ii)
Participant shall have reasonably concluded that there may be a conflict of
interest between the Company and Participant in the conduct of the defense of
such proceeding or (iii) the Company shall not in fact have employed counsel to
assume the defense of such proceeding, in each of which cases the fees and
expenses of counsel shall be at the expense of the Company. The Company shall
not be entitled to assume the defense of any proceeding brought by or on behalf
of the Company or as to which Participant shall have made the conclusion
provided for in clause (ii) of this subsection 9(b).

         (c) The Company shall not be liable to indemnify Participant under this
Agreement for any amounts paid in settlement of any proceeding effected by
Participant without the Company's prior written consent. The Company shall not
settle any proceeding in any manner which would impose any penalty or limitation
on Participant without Participant's prior written consent. Neither the Company
nor Participant will unreasonably withhold their consent to any proposed
settlement.

SECTION 10. NO PRESUMPTIONS

         For purposes of this Agreement, the termination of any proceeding
against Participant by judgment, order, settlement (whether with or without
court approval) or conviction, or upon a plea of nolo contendere, or its
equivalent, shall not create a presumption that Participant did not meet any
particular standard of conduct or have any particular belief or that a court has
determined that indemnification is not permitted by applicable law. In addition,
neither the failure of the Company to have made a determination as to whether
Participant has met any particular standard of conduct or had any particular
belief, nor an actual determination by the Company that Participant has not met
such standard of conduct or did not have such belief, prior to the commencement
of legal proceedings by Participant to secure a judicial determination that
Participant should be indemnified under applicable law shall be a defense to
Participant's claim for indemnification or create a presumption that Participant
has not met any particular standard of conduct or did not have any particular
belief.

SECTION 11. ACKNOWLEDGMENT OF RELIANCE

         The Company acknowledges that Participant is relying on this Agreement
and the promises and agreements of the Company herein in continuing his service
as a Director and in agreeing to undertake and in undertaking his
responsibilities, duties and services to and for the Company in connection
therewith.

SECTION 12. MISCELLANEOUS

         This Agreement shall be governed by and construed in accordance with
the laws of the State of Delaware. Each provision hereof is intended to be
severable and the invalidity or illegality of any portion of this Agreement
shall not affect the validity or legality of the remainder.

                                     - 5 -
<PAGE>

         Executed as an instrument under seal as of the day and year first above
written.

                                       EL PASO CORPORATION

                                       By:  _____________________________
                                       Name:  David E. Zerhusen
                                       Title: Executive Vice President
                                       Hereunto duly authorized

                                       By:  _____________________________
                                       Name:  Ronald L. Kuehn, Jr.
                                       Title: Lead Director
                                              Board of Directors
                                       Hereunto duly authorized<PAGE>
                                                                   EXHIBIT 10.17

                                  [LETTERHEAD]

February 20, 2003

By Overnight Mail

Richard A. Stratton
827 Apple Ridge Road
Franklin Lakes, NJ 07417

Re: Your Retirement

Dear Dick:

         I am saddened by your impending retirement from Nabors. I will have
many occasions still to thank you for your numerous contributions over the
years, but please know that I truly appreciate your friendship, your hard work,
and your dedication in helping to build Nabors into what it is today.

         This letter will describe the agreement we have reached regarding your
retirement. Please review the understanding described below and, if it correctly
describes our agreement, please sign both copies of this letter below where
indicated and return one copy to me.

         1. Resignation. Effective as of the date of this letter (your
"Retirement Date"), you resign as an officer, director, employee, trustee,
partner, fiduciary, member and any and all other positions held with Nabors
Industries Ltd. ("Nabors Bermuda"), Nabors Industries, Inc. ("Nabors Delaware"),
and any and all of their subsidiaries and affiliates.

         2. Payments and Benefits. In consideration for your agreements
described in this letter, Nabors Bermuda and/or Nabors Delaware will pay you
bi-weekly payments through September 30, 2007, each in the gross amount of
Twelve Thousand, Five Hundred Seventy-Six Dollars and Four Cents ($12,576.04).
These payments will be paid in accordance with the company's normal payroll
cycle and we will withhold required tax deductions. The amount of payments may
be adjusted from time to time by mutual agreement.

         3. Business Expenses. Please submit any outstanding business expenses
as soon as reasonably practicable. In the future, you should obtain either my or
Tony Petrello's approval before incurring any business expenses on behalf of the
company.

         4. Benefit Plans. Except as described in this letter or required by
law, all benefit plans to which you are a party because of your employment shall
no longer be applicable to you and any benefits available to you will terminate,
as of your Retirement Date.

                  a. Nabors Industries Retirement Savings Plan (the "Retirement
         Savings Plan") - You are entitled to a distribution of your account and
         one hundred percent (100%) of any applicable matching account. You have
         the option of leaving both your

<PAGE>

Richard A. Stratton
February 20, 2003
Page 2

         and company matching accounts in the Retirement Savings Plan in
         accordance with the terms of the plan. If you elect to receive a
         distribution, you should complete and return the Final Distribution
         Form which will be provided.

                  b. Nabors Industries Non-Qualified Deferred Compensation Plan
         (the "Deferred Compensation Plan") - You are entitled to a distribution
         of your account and one hundred percent (100%) of any applicable
         matching account. Your distribution from the Deferred Compensation Plan
         will be a lump sum payment and will be made within ninety (90) days of
         the Retirement Date. Your balance in the Deferred Compensation Plan as
         of December 31, 2002 was Eight Hundred Eighty Four Thousand Seven
         Hundred Forty Seven Dollars and Seventy-Two cents ($884,747.72).

                  c. Nabors Industries Group Insurance Plan (the "Group
         Insurance Plan") - You, your spouse and eligible children will be
         entitled to participate under the medical and dental portions of the
         Group Insurance Plan so long as you are receiving the payments
         described in paragraph 2 of this letter. Your participation will be
         solely at your cost and expense, which we agree shall be an amount
         equal to the amount charged from time to time to individuals electing
         continuation of insurance coverage in accordance with the Consolidated
         Omnibus Reconciliation Act of 1985 ("COBRA"). As of the date of this
         Agreement, those amounts are $1,122.52 per month (medical) and $121.17
         per month (dental) for an employee, spouse and three children.

         At any time during which you are receiving the payments described in
paragraph 2 and at Nabors Bermuda's or Nabors Delaware's sole option, we may
arrange for individual insurance policies for you and your family providing
benefits that are reasonably comparable to those provided under the Group
Insurance Plan. The cost of such individual policies shall be borne by you, but
you will not be responsible for any costs associated with such policies to the
extent that the costs are in excess of the amounts charged from time to time to
individuals electing continuation of insurance coverage under the Group
Insurance Plan in accordance with COBRA (it being our intention that Nabors
Bermuda and/or Nabors Delaware will be responsible for any excess costs). The
term of such policy shall not be less than the period of time during which you
are receiving the payments described in paragraph 2, plus an additional eighteen
months (the additional 18 months is intended to place you in the same position
as you would be in if you elected COBRA at the end of the period of time during
which you were covered by the Company plan).

         At any such time as you are no longer covered under the Group Insurance
Plan, you will be entitled to continue health care coverage in accordance with
COBRA. A notice outlining your health care continuation rights will be sent to
your home address.

         5. Stock Options. Notwithstanding any provision to the contrary, you
shall be entitled to exercise your stock option awards pursuant to the terms of
their initial award, as amended or modified from time to time prior to the date
of this letter. Our records reflect the following options outstanding:

<PAGE>
Richard A. Stratton
February 20, 2003
Page 3

<TABLE>
<CAPTION>
              Grant           Expiration              Options                Exercise
              Date              Date                Outstanding                Price
            --------          ----------            -----------               -------
<S>                            <C>                     <C>                   <C>
            12-11-98            7-22-07                 93,750                $12.50
            12-11-98             1-9-08                172,500                $12.50
            12-11-98            7-22-07                196,875                $12.50
            12-30-98           12-30-08                300,000                $12.625
             8-23-99            8-23-09                 14,000                $28.125
             8-23-99            8-23-09                 23,400                $28.1875
             8-23-99            8-23-09                 50,100                $28.25
             12-7-99            12-7-09                250,000                $24.75
             9-21-00             1-7-07                315,943                $46.50
             12-4-00            12-4-10                250,000                $45.55
             1-22-02            1-22-12                400,000                $27.05
</TABLE>

         6. Repayment of Loan. You acknowledge that you are indebted to Nabors
Delaware in the principal amount of $104,375 pursuant to a demand note dated as
of June 11, 1990. You agree to repay the full amount of the loan as soon as
reasonably practicable.

         7. Split Dollar Life Policy. You acknowledge that you are a party to a
Split-Dollar Life Insurance Agreement dated August 3, 1998 (the "Split-Dollar
Agreement") related to the The Equitable Policy Number 45258640 (the "Policy")
and that the Policy has been collaterally assigned to Nabors Drilling USA, Inc.
As of the date hereof, the amount of the premiums advanced by Nabors Delaware
and/or Nabors Bermuda is $286,333 (the "Corporate Portion"). You are aware that
we have not made premium payments under the policy recently because of concern
that such payments might violate recent legislation. We agree that we will treat
you the same as other senior executives having such policies with respect to
future payments of the corporate portion of premiums so long as you are
receiving the bi-weekly payments described on Exhibit A. We agree that the
Split-Dollar Agreement and the documents evidencing the assignment of the
Policy, and each of the parties obligations under those agreements, shall
survive your retirement and this letter. We further agree and acknowledge that
Nabors Bermuda, Nabors Delaware or a Company Affiliate shall receive the
"Corporate Portion" described in the Split-Dollar Agreement upon the earlier to
occur of the events described in paragraph 6(b)(i) or 6(b)(ii) of the
Split-Dollar Agreement.

         8. Release and Waiver of Claims. In return for the Payments, you hereby
release and forever discharge Nabors Bermuda, Nabors Delaware, and each of their
owners, officers, employees, former employees, shareholders, directors,
partners, agents and assigns, and all other persons, firms, partnerships, or
corporations in control of, under the direction of, or in any way presently or
formerly associated with Nabors Delaware and/or Nabors Bermuda (collectively,
"Company Affiliates") of and from all claims, obligations, agreements,
contracts, or other liabilities of any kind or character (including without
limitation your Employment Agreement dated as of October 1, 1996, as amended
from time to time) whether known or hereafter discovered, arising from or in any
way connected with or related to your employment with Nabors Delaware and/or
Nabors Bermuda and any Company Affiliate, but excluding any benefits which you
are entitled to receive under any Nabors Delaware and/or Nabors Bermuda plan or
Company Affiliate plan that is a qualified plan under IRC Section 401(a) or is a
group health plan

<PAGE>

Richard A. Stratton
February 20, 2003
Page 4

subject to COBRA, to the extent you properly elect and pay for such COBRA
continuation coverage.

The foregoing release is not intended to, and does not, release any claims you
may have, now or in the future, for indemnity, including but not limited to
indemnification under any indemnification agreement by and between you and
Nabors Bermuda and/or Nabors Delaware, and/or for coverage under any directors
and officers ("D&O") insurance policy for acts or decisions or omissions to act
by you while performing services for Nabors Bermuda, Nabors Delaware, or any
Company Affiliate as an employee, officer, director, or in any other capacity.

         9. Other Agreements.

         Our agreement described in this letter will be governed by the laws of
the State of Texas. This letter constitutes the entire agreement between us and
supersedes any and all prior understandings, agreements or correspondence. This
agreement may only be modified in a writing signed by the parties.

         For a period of five years from the date of this letter, you agree that
you will not accept any employment with, or render any services to, any person,
firm or corporation that competes with Nabors Bermuda, Nabors Delaware, or any
Company Affiliate. You agree that we may cease making the Payments described in
this letter if you do not abide by this paragraph.

         If any provision of this letter shall be held to be invalid, illegal,
or unenforceable for any reason whatsoever, the validity, legality and
enforceability of the remaining provisions of this letter shall not in any way
be affected or impaired thereby. Any disputes arising in connection with this
letter shall be resolved through binding arbitration pursuant to the Nabors
Dispute Resolution Program.

         If the foregoing correctly describes our agreement, please sign both
copies where indicated below and return one fully signed copy to me.

         With best regards.

                                                    Sincerely yours,

                                                    /s/ Eugene M. Isenberg
                                                    ---------------------------
                                                    Eugene M. Isenberg

AGREED AND ACKNOWLEDGED:

/s/ Richard A. Stratton
----------------------------
Richard A. Stratton

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