Document:

KBR Cash Management Note, dated as of December 1, 2005

 Exhibit 10.13 
  
 THE REPAYMENT OF THIS NOTE IS SUBJECT TO THE 
 TERMS OF THE SUBORDINATION AGREEMENT 
 (AS DEFINED BELOW) 
  
 KBR CASH MANAGEMENT NOTE 
  
 December 1, 2005 
  
 The undersigned, for value received, promises to pay ON DEMAND, or if no
demand is made on December 31, 2010 to the order of the applicable Lender (as defined below) at the principal office of such Lender in Houston, Texas, or at such other place designated by such Lender or its assignee, the aggregate unpaid
principal amount of all loans and advances made by such Lender to the undersigned (the “Loans”) as shown either on the applicable schedule attached hereto (and any continuation thereof) or in the records of such Lender together with
accrued interest on such amounts from time to time outstanding hereunder at the rates provided below. As used herein, “Lender” shall mean each of Halliburton Company, a Delaware corporation (“Halliburton”) and Halliburton
Energy Services, Inc., a Delaware corporation (“HESI”), as applicable. 
  
 This is the “KBR Cash Management Note” as defined in the Five Year Revolving Credit Agreement dated as of December 16, 2005 (as amended from time to time, the “Credit Agreement”) among
the undersigned, the Issuing Banks, the Banks and the Agents (as such terms are defined therein). Capitalized terms used herein and not otherwise defined herein shall have the meaning set forth in the Credit Agreement. 
  
 Advances made hereunder shall be at the sole discretion of each Lender, upon
at least two (2) Business Days’ notice to such Lender or such shorter period as agreed by such Lender. 
  
 As of the date hereof, the outstanding principal balance is $0.00. 
  
 The unpaid principal amount hereof from time to time outstanding shall bear interest from the date hereof at the six-month
Eurodollar Rate plus 1.00% per annum. Accrued interest shall be payable on June 30 and December 31 of each year, commencing June 30, 2006. Interest shall be computed for the actual number of days elapsed on the basis of a year
consisting of 360 days. 
  
 Subject to the terms of the
Subordination Agreement (as hereinafter defined), principal payments may be made by the undersigned at any time and from time to time upon at least two (2) Business Days’ notice to such Lender or such shorter period as agreed by such
Lender. 
  
 Payments of both principal and interest are to be made
in lawful money of the United State of America in immediately available funds. 

 It is the intention of the payee to conform strictly to usury laws applicable to it. Accordingly, if the
transactions contemplated hereby would be usurious as to the payee under laws applicable to it, then, in that event notwithstanding anything to the contrary in this Note or any other instrument or agreement entered into in connection with this Note,
it is agreed as follows: (1) the aggregate of all consideration which constitutes interest under law applicable to the payee that is contracted for, taken, reserved, charged or received by the payee under this Note or under any of the aforesaid
agreements or instruments entered into in connection with this Note or otherwise shall under no circumstances exceed the maximum amount allowed by such applicable law, and any excess shall be credited by such payee on the principal amount of this
Note (or, if the principal amount of this Note shall have been paid in full, refunded by such payee to the undersigned); and (ii) in the event that the maturity of this Note is accelerated by reason of an election of the holder or holders
thereof resulting from any event of default or otherwise, or in the event of any required or permitted prepayment, then such consideration that constitutes interest under law applicable to the payee may never include more than the maximum amount
allowed by such applicable law, and excess interest, if any, provided for in this Note or otherwise shall be automatically cancelled by such payee as of the date of such acceleration or prepayment and, if theretofore paid, shall be credited by such
payee on the principal amount of this Note (or if the principal amount of this Note shall have been paid in full, refunded by such payee to the undersigned). 
  
 In addition to and not in limitation of the foregoing, the undersigned further agrees, subject only to any limitation imposed by applicable law, that
should the indebtedness represented by this Note or any part thereof be collected at law or in equity or in bankruptcy, receivership or other court proceedings, or this Note be placed in the hands of attorneys for collection, the undersigned agrees
to pay, in addition to the principal and interest due and payable hereon, all reasonable expenses, including reasonable attorneys’ fees and legal expenses, incurred by the holder of this Note in endeavoring to collect any amounts payable
hereunder which are not paid when due. 
  
 The undersigned
warrants and represents to each Lender and its assignees that (a) the undersigned is a limited liability company duly formed and validly existing and in good standing under the laws of the State of Delaware, (b) the execution and delivery
of this Note, and the performance by the undersigned of its obligations hereunder, are within the corporate powers of the undersigned and have been duly authorized by all necessary corporate action on the part of the undersigned, and (c) this
Note is the legal, valid and binding obligation of the undersigned, enforceable in accordance with its terms, the making and performance of which do not and will not contravene or conflict with the articles of incorporation of the undersigned or any
amendment thereto or violate or constitute a default under any law, any presently existing requirement or restriction imposed by judicial, arbitral or other governmental instrumentality or any agreement, instrument or indenture by which the
undersigned is bound. 
  
 No delay on the part of either Lender or
any other holder of this Note in the exercise of any right, power or remedy shall operate as a waiver thereof, nor shall any single or partial exercise of any right, power or remedy preclude other or further exercise thereof, or the exercise of any
other right, power or remedy. No amendment, modification or waiver of, or consent with respect to, any provision of this Note shall in any event be effective unless the same shall be in writing and signed and delivered by each Lender or the then
holder hereof. 
  

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 Notwithstanding anything to the contrary contained herein, pursuant to the terms of a Subordination
and Undertaking Agreement dated as of December 16, 2005 among Halliburton, KBR, HESI and the Agent (as defined therein) (herein, as amended, modified, supplemented, restated and in effect from time to time called the “Subordination
Agreement”) reference to which is hereby made for all purposes, the payment of all obligations of the undersigned to the Lenders under this Note shall be postponed and subordinated to the payment in full of the Senior Debt Obligations (as
defined in the Subordination Agreement and used herein with the same meaning) to the extent provided in the Subordination Agreement. 
  
 All parties hereto, whether as makers, endorsers, or otherwise, severally waive presentment for payment, demand, protest and notice of dishonor.

  
 THIS NOTE SHALL BE DEEMED TO BE A CONTRACT MADE UNDER THE
LAWS OF THE STATE OF NEW YORK AND FOR ALL PURPOSES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
  

					
	 KBR HOLDINGS, LLC

		
	 By:
	 	 /s/ Cedric W. Burgher

	 	 	 Name:
	 	Cedric W. Burgher
	 	 	 Title:
	 	Vice President and Chief Financial Officer

  
 Address: 
  
 4100 Clinton Drive

 Houston, TX 77020 
  

 3Employment Agreement (William P. Utt)

 Exhibit 10.15 
 EXECUTIVE EMPLOYMENT AGREEMENT 
 This Executive Employment Agreement (“Agreement”) is
entered into by and between KBR Technical Services, Inc. (“Employer”) and William P. Utt (“Employee”), as of April 3, 2006 (the “Effective Date”). 
 WITNESSETH: 
 WHEREAS, the Employer wishes to secure the services of Employee
subject to the contractual terms and conditions set forth herein; and 
 WHEREAS, Employee is willing to enter into this Agreement upon the
terms and conditions and for the consideration set forth herein. 
 NOW, THEREFORE, for and in consideration of the mutual promises,
covenants, and obligations contained herein, Employer and Employee agree as follows: 
 ARTICLE 1 
 EMPLOYMENT AND DUTIES 
 1.1 Employer
agrees to employ Employee, and Employee agrees to be employed by Employer, beginning as of the Effective Date and continuing until the date of termination of Employee’s employment pursuant to the provisions of Article 3 (the “Term”),
subject to the terms and conditions of this Agreement. 
 1.2 Beginning as of the Effective Date, Employee shall be employed as president and
chief executive officer of KBR Holdings LLC. Employee agrees to serve in the assigned position or in such other similar executive capacities as may be requested from time to time by Employer and to perform diligently and to the best of
Employee’s abilities the duties and services appertaining to such positions as reasonably determined by Employer, as well as such additional or different duties and services appropriate to such positions which Employee from time to time may be
reasonably directed to perform by Employer. 
 1.3 Employee shall at all times comply with and be subject to such policies and procedures as
Halliburton Company (“Halliburton”) or Employer may establish from time to time, including, without limitation, the Halliburton Company Code of Business Conduct (the “Code of Business Conduct”). 
 1.4 Employee shall, during the period of Employee’s employment by Employer, devote Employee’s full business time, energy, and best efforts to
the business and affairs of Employer. Employee may not engage, directly or indirectly, in any other business, investment, or activity that interferes with Employee’s performance of Employee’s duties hereunder, is contrary to the interest
of Halliburton, Employer, KBR Holdings LLC or any direct or indirect parent company of KBR Holdings LLC or any of their affiliated subsidiaries and divisions (collectively, the “Halliburton Entities” or, individually, a “Halliburton
Entity”), or requires any significant portion of Employee’s business time. The foregoing notwithstanding, the parties recognize and agree that Employee may engage in passive personal investments and other business activities which do not
conflict with the business and affairs of the Halliburton 

 
Entities or interfere with Employee’s performance of his duties hereunder. Employee may not serve on the board of directors of any entity other than a
Halliburton Entity during the Term without the approval thereof in accordance with Halliburton’s policies and procedures regarding such service. Employee may retain compensation received for approved service on any unaffiliated
corporation’s board of directors to the extent permitted under applicable Halliburton policies and procedures. 
 1.5 Employee
acknowledges and agrees that Employee owes a fiduciary duty of loyalty, fidelity and allegiance to act at all times in the best interests of the Employer and the other Halliburton Entities and to do no act which would, directly or indirectly, injure
any such entity’s business, interests, or reputation. It is agreed that any direct or indirect interest in, connection with, or benefit from any outside activities, particularly commercial activities, which interest might in any way adversely
affect Employer, or any Halliburton Entity, involves a possible conflict of interest. In keeping with Employee’s fiduciary duties to Employer, Employee agrees that Employee shall not knowingly become involved in a conflict of interest with
Employer or the Halliburton Entities, or upon discovery thereof, allow such a conflict to continue. Moreover, Employee shall not engage in any activity which might involve a possible conflict of interest without first obtaining approval in
accordance with Halliburton’s policies and procedures. 
 1.6 Nothing contained herein shall be construed to preclude the transfer of
Employee’s employment to another Halliburton Entity (“Subsequent Employer”) as of, or at any time after, the Effective Date and no such transfer shall be deemed to be a termination of employment for purposes of Article 3 hereof;
provided, however, that, effective with such transfer, all of Employer’s obligations hereunder shall be assumed by and be binding upon, and all of Employer’s rights hereunder shall be assigned to, such Subsequent Employer and the defined
term “Employer” as used herein shall thereafter be deemed amended to mean such Subsequent Employer. Except as otherwise provided above, all of the terms and conditions of this Agreement, including without limitation, Employee’s rights
and obligations, shall remain in full force and effect following such transfer of employment. 
 ARTICLE 2 
 COMPENSATION AND BENEFITS 
 2.1
Base Salary. Employee’s base salary during the Term shall be not less than $625,000 per annum, which shall be paid in accordance with the Employer’s standard payroll practice for its executives. Employee’s base salary may be
increased from time to time with the approval of the Compensation Committee of Halliburton’s Board of Directors (the “Compensation Committee”) or its delegate, as applicable. Any increased base salary shall become the minimum base
salary under this Agreement and may not be decreased thereafter without the written consent of Employee. Furthermore, it is the intent of the Employer that upon the occurrence of the IPO (as defined below) the committee to whom such authority has
been granted by the board of directors of the public company that is formed pursuant to such IPO will review Employee’s total compensation package to determine, in its sole discretion, whether an adjustment to Employee’s total compensation
package is appropriate. 
  

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 2.2 Signing Bonuses. As soon as administratively practicable following the Effective Date,
Employee shall be paid a signing bonus in the amount of $75,000. In addition, effective upon the earlier to occur of (i) the closing date (the “Closing Date”) of the first registered underwritten public offering of KBR Holdings LLC or
a direct or indirect parent of KBR Holdings LLC, which is completed after the Effective Date (the “IPO”), or (ii) January 1, 2007, Employee shall be entitled to a one-time cash bonus in the amount of $225,000, provided that
Employee remains continuously employed with the Employer or Halliburton through such date. 
 2.3 Restricted Shares. As of the
Effective Date, the Employer shall grant to Employee 15,000 restricted shares of Halliburton common stock (the “Restricted Shares”) pursuant to the Halliburton Company 1993 Stock and Incentive Plan (the “1993 Plan”). The
Restricted Shares shall contain forfeiture restrictions that shall lapse ratably over five years such that twenty percent (20%) of the Restricted Shares shall become vested on each of the first five anniversaries of the Effective Date, subject
to Employee’s continuous employment with the Employer or other Halliburton Entity through the applicable vesting date. The Restricted Shares will be awarded subject to the terms and conditions specified in a restricted stock award
agreement. 
 2.4 Participation in Annual Performance Pay Plan. Beginning on the Effective Date and for the remainder of the Term,
Employee shall participate in the Halliburton Annual Performance Pay Plan (the “Performance Plan”), or, any successor annual incentive plan approved by the Compensation Committee; provided, however, that all determinations relating to
Employee’s participation, including, without limitation, those relating to the performance goals applicable to Employee and Employee’s level of participation and payout opportunity, shall be made in the sole discretion of the person or
committee to whom such authority has been granted pursuant to such plan’s terms. For the 2006 plan year, Employee will be afforded a reward opportunity of (a) not less than sixty-five percent (65%) of his base salary if the plan level
performance objectives are achieved or (b) not less than one hundred and thirty percent (130%) of his base salary if the challenge level performance objectives are achieved, in accordance with the terms and conditions of the Performance
Plan. Employee’s reward under the Performance Plan, if any, shall be prorated based upon that portion of the plan year during which he was an active participant. Notwithstanding the foregoing, Employee’s participation in the Performance
Plan shall terminate as of the date on which the compensation committee of KBR Holdings LLC or a direct or indirect parent of KBR Holdings LLC adopts an annual performance pay plan that is substantially similar to the Performance Plan. 

2.5 IPO Restricted Shares. If Employee is employed on the Closing Date, and contingent upon the occurrence of such IPO, Employee shall receive,
as of, or as soon as administratively practicable after, the Closing Date, a number of restricted shares of the same class of shares purchased by the public in the IPO (the “Public Shares”) equal to the quotient obtained by dividing $2.2
million by the price to the public of the Public Shares sold in the IPO on the Closing Date (the “IPO Restricted Shares”). The IPO Restricted Shares shall contain forfeiture restrictions that shall lapse ratably over five years such that
twenty percent (20%) of the IPO Restricted Shares shall become vested on each of the first five anniversaries of the Closing Date, subject to Employee’s continuous employment with the Employer or Halliburton through the applicable vesting
date. The IPO Restricted Shares shall be awarded under the applicable equity-based plan and subject to a restricted stock award agreement and such other 

  

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terms to be established by the person or committee to whom such authority has been granted pursuant to such plan, which terms shall be consistent with the
foregoing. 
 2.6 Delay of IPO Beyond 2006. If Halliburton’s Board of Directors has determined there is a significant probability
that the Closing Date of the IPO will not occur prior to March 31, 2007, Employee shall be eligible to receive awards under the 1993 Plan or any successor equity-based plan, adopted by Halliburton’s Board of Directors on the same basis
generally as the chief operating officer and the chief financial officer of Halliburton would receive for 2007 and annually thereafter; provided, however, that the foregoing shall not be construed as a guarantee with respect to the type, amount or
frequency of such awards, if any, such decisions being solely within the discretion of the Compensation Committee or its delegate, as applicable, and further provided that any awards contemplated under this Section 2.6 shall cease upon the
occurrence of the IPO. 
 2.7 Nonoccurrence of IPO. If the Halliburton Board of Directors determines not to proceed with the IPO, then
Employee shall be entitled to receive an award or awards under such other Halliburton equity-based plan or plans, as determined in the sole discretion of the Compensation Committee or its delegate, as applicable, having a fair market value (as
determined in the sole discretion of the Compensation Committee, or its delegate) equal to $2.2 million as of the date of grant of such award or awards (the “Replacement Equity Award”). Such Replacement Equity Award shall be granted in
lieu of and not in addition to the IPO Restricted Shares described in Section 2.5 herein and shall be subject to such vesting requirements as shall be prescribed by the Compensation Committee, or its delegate, in its sole discretion.

 2.8 Expense Reimbursement. During the Term, Employer shall pay or reimburse Employee for all actual, reasonable and customary
expenses incurred by Employee in the course of his employment; including, but not limited to, travel, entertainment, subscriptions and dues associated with Employee’s membership in professional, business and civic organizations; provided that
such expenses are incurred and accounted for in accordance with Employer’s applicable policies and procedures. 
 2.9 Welfare
Benefits and Retirement Plans. While employed by Employer, Employee shall be allowed to participate, on the same basis generally as other similarly situated employees of Employer, in all general employee benefit plans and programs, including
improvements or modifications of the same, which on the Effective Date or thereafter are made available by Employer or Halliburton to all or substantially all of Employer’s similarly situated executive employees. Such benefits, plans, and
programs may include, without limitation, medical, health, and dental care, life insurance, disability protection, and qualified and non-qualified retirement plans. Except as specifically provided herein, nothing in this Agreement is to be construed
or interpreted to increase or alter in any way the rights, participation, coverage, or benefits under such benefit plans or programs from those provided to similarly situated executive employees pursuant to the terms and conditions of such benefit
plans and programs. 
 2.10 No Amendment of Employee Benefit Plans. Neither Halliburton nor Employer shall by reason of this Article 2
be obligated to institute, maintain, or refrain from changing, amending or discontinuing, any incentive compensation, employee benefit or stock or stock option program or plan, so long as such actions are similarly applicable to covered 

  

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employees generally. This Section 2.10 is not intended to abrogate any of Employer’s obligations described in Sections 2.3, 2.4, 2.5, 2.6 or 2.7.

 2.11 Tax Withholding. Employer may withhold from any compensation, benefits, or amounts payable under this Agreement all federal,
state, city, or other taxes as may be required pursuant to any law or governmental regulation or ruling. 
 ARTICLE 3 
 TERMINATION OF EMPLOYMENT AND EFFECTS OF SUCH TERMINATION 
 3.1 Employee’s employment with Employer shall be terminated (i) upon the death of Employee, (ii) upon Employee’s Retirement (as defined below), (iii) upon Employee’s Permanent Disability
(as defined below), or (iv) at any time by Employer upon notice to Employee, or by Employee upon thirty (30) days’ notice to Employer, for any or no reason. 
 3.2 If Employee’s employment is terminated by reason of any of the following circumstances, Employee shall not be entitled to receive the benefits
set forth in Section 3.3 hereof: 
 (i) Death. 
 (ii) Retirement. “Retirement” shall mean either (a) Employee’s retirement at or after normal retirement age
(either voluntarily or pursuant to Halliburton’s retirement policy) or (b) the voluntary termination of Employee’s employment by Employee in accordance with Employer’s early retirement policy for other than Good Reason (as
defined below). 
 (iii) Permanent Disability. “Permanent Disability” shall mean Employee’s physical or
mental incapacity to perform his usual duties with such condition likely to remain continuously and permanently as determined in good faith by the Compensation Committee, or its delegate. 
 (iv) Voluntary Termination. “Voluntary Termination” shall mean a termination of employment in the sole discretion and at
the election of Employee for other than Good Reason. “Good Reason” shall mean (a) a termination of employment by Employee because of a material breach by Employer of any material provision of this Agreement which remains uncorrected
for thirty (30) days following notice of such breach by Employee to Employer, provided such termination occurs within sixty (60) days after the expiration of the notice period or (b) a termination of employment by Employee within six
(6) months after a material reduction in Employee’s rank or responsibility with Employer. 
 (v) Termination for
Cause. Termination of Employee’s employment by Employer for Cause. “Cause” shall mean any of the following: (a) Employee’s gross negligence or willful misconduct in the performance of the duties and services required of
Employee pursuant to this Agreement, (b) Employee’s final conviction of a felony, (c) a material violation of the Code of Business Conduct or (d) Employee’s material breach of any material provision of this Agreement which
remains uncorrected for thirty (30) days 

  

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following notice of such breach to Employee by Employer. Determination as to whether or not Cause exists for termination of Employee’s employment will
be reasonably made by the Compensation Committee, or its delegate, in good faith. 
 In the event Employee’s employment is terminated
under any of the foregoing circumstances, all future compensation to which Employee is otherwise entitled and all future benefits for which Employee is eligible shall cease and terminate as of the date of termination, except as specifically provided
in this Section 3.2. Employee, or his estate in the case of Employee’s death, shall be entitled to pro rata base salary through the date of such termination and shall be entitled to any individual annual incentive compensation not yet paid
but earned and payable under Employer’s or Halliburton’s annual incentive plans for the year prior to the year of Employee’s termination of employment, but shall not be entitled to any annual incentive compensation for the year in
which he terminates employment or any other payments or benefits by or on behalf of Employer except for those which may be payable pursuant to the terms of Employer’s or Halliburton’s employee benefit plans (as defined in
Section 3.4), stock, stock option or incentive plans, or the applicable agreements underlying such plans. 
 3.3 If Employee’s
employment is terminated by Employee for Good Reason or by Employer for any reason other than as set forth in Section 3.2 above, Employee shall be entitled to each of the following, subject to the provisions of Section 3.4: 
 (i) To the extent not otherwise specifically provided in any underlying restricted stock agreements, Halliburton, at its option and in its
sole discretion, shall either (a) cause all shares of Halliburton common stock previously granted to Employee under the 1993 Plan, and any similar plan adopted by Halliburton in the future, which at the date of termination of employment are
subject to restrictions to be forfeited, in which case, Employer will pay Employee a lump sum cash payment equal to the value of the restricted shares (based on the closing price of Halliburton common stock on the New York Stock Exchange on the date
of termination of employment); or (b) cause the forfeiture restrictions with respect to the restricted shares to lapse and such shares shall be retained by Employee. 
 (ii) Employer shall pay to Employee a severance benefit consisting of a single lump sum cash payment equal to two years’ of
Employee’s base salary as in effect at the date of Employee’s termination of employment. Such severance benefit shall be paid no later than sixty (60) days following Employee’s termination of employment. 
 (iii) Employee shall be entitled to any individual incentive compensation earned under the Performance Plan, or any successor annual
incentive plan approved by the Compensation Committee, for the year of Employee’s termination of employment determined as if Employee had remained employed by the Employer for the entire year. Such amounts shall be paid to Employee at the time
that such amounts are paid to similarly situated employees. 
 3.4 The severance benefits paid to Employee pursuant to Section 3.3 shall
be in consideration of Employee’s continuing obligations hereunder after such termination, including, without limitation, Employee’s obligations under Article 4. Further, as a condition to 

  

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the receipt of such severance benefits, Employer shall require Employee to first execute a release, in the form established by Employer, releasing Employer
and all other Halliburton Entities, and their officers, directors, employees, and agents, from any and all claims and from any and all causes of action of any kind or character, including, but not limited to, all claims and causes of action arising
out of Employee’s employment with Employer and any other Halliburton Entities or the termination of such employment. The performance of Employer’s obligations under Section 3.3 and the receipt of the severance benefits provided
thereunder by Employee shall constitute full settlement of all such claims and causes of action. Employee shall not be under any duty or obligation to seek or accept other employment following a termination of employment pursuant to which severance
benefits under Section 3.3 are owing and the amounts due Employee pursuant to Section 3.3 shall not be reduced or suspended if Employee accepts subsequent employment or earns any amounts as a self-employed individual. Employee’s
rights under Section 3.3 are Employee’s sole and exclusive rights against the Employer and the other Halliburton Entities and the Employer’s and the other Halliburton Entities’ sole and exclusive liability to Employee under this
Agreement, in contract, tort or otherwise, for the termination of his employment relationship with Employer. Employee agrees that all disputes relating to Employee’s termination of employment, including, without limitation, any dispute as to
“Cause” or “Voluntary Termination” and any claims or demands against Employer or Halliburton based upon Employee’s employment for any monies other than those specified in Section 3.3, shall be resolved through the
Halliburton Dispute Resolution Plan as provided in Section 5.6 hereof; provided, however, that decisions as to whether “Cause” exists for termination of the employment relationship with Employee and whether and as of what date
Employee has become permanently disabled are delegated to the Compensation Committee, or its delegate, for determination and any dispute of Employee with any such decision shall be limited to whether the Compensation Committee, or its delegate,
reached such decision in good faith. Nothing contained in this Article 3 shall be construed to be a waiver by Employee of any benefits accrued for or due Employee under any employee benefit plan (as such term is defined in the Employees’
Retirement Income Security Act of 1974, as amended) maintained by Employer or other Halliburton Entities except that Employee shall not be entitled to any severance benefits pursuant to any severance plan or program of the Employer or other
Halliburton Entities. 
 3.5 Termination of the employment relationship does not terminate those obligations imposed by this Agreement which
are continuing obligations, including, without limitation, Employee’s obligations under Article 4. 
 ARTICLE 4 
 OWNERSHIP AND PROTECTION OF INTELLECTUAL PROPERTY AND 
 CONFIDENTIAL INFORMATION 
 4.1 All information, ideas, concepts, improvements, discoveries, and
inventions, whether patentable or not, which are conceived, made, developed or acquired by Employee, individually or in conjunction with others, during Employee’s employment by Employer or any of its affiliates (whether during business hours or
otherwise and whether on Employer’s premises or otherwise) which relate to the business, products or services of Employer or its affiliates (including, without limitation, all such information relating to corporate opportunities, research,
financial and sales data, pricing and trading terms, evaluations, opinions, interpretations, acquisition prospects, the identity of customers or their requirements, the identity 

  

 7 

 
of key contacts within the customer’s organizations or within the organization of acquisition prospects, or marketing and merchandising techniques,
prospective names, and marks), and all correspondence, memoranda, notes, records, data or information, analyses, or other documents (including, without limitation, any computer-generated, computer-stored or electronically-stored materials) of any
type embodying any of such items, shall be the sole and exclusive property of Employer or its affiliates, as the case may be. 
 4.2 Employee
acknowledges that the businesses of the various Halliburton Entities are highly competitive and that they have developed and own valuable information which is confidential, unique and specific to the Halliburton Entities (“Proprietary and
Confidential Information”) and which includes, without limitation, financial information; marketing plans; business and implementation plans; engineering plans; prospect lists; technical information concerning products, equipment, services and
processes; procurement procedures and pricing techniques; names and other information (such as credit and financial data) concerning customers and business affiliates; and other trade secrets, concepts, ideas, plans, strategies, analyses, surveys
and proprietary information related to the past, present or anticipated business of various of the Halliburton Entities. Employee further acknowledges that protection of such Proprietary and Confidential Information against unauthorized disclosure
and use is of critical importance to Employer and the other Halliburton Entities in maintaining their competitive position. Employee hereby agrees that Employee will not, at any time during or after his employment by Employer, disclose to others,
permit to be disclosed, use, permit to be used, copy or permit to be copied, any such Proprietary and Confidential Information (whether or not developed by Employee and whether or not received as an employee) without the prior written consent of the
Chief Executive Officer of Employer. Employee further agrees to maintain in confidence any proprietary and confidential information of third parties received or of which he has knowledge as a result of his employment. The prohibitions of this
Section 4.2 shall not apply, however, to information in the public domain (but only if the same becomes part of the public domain through means other than a disclosure prohibited hereunder). The above notwithstanding, a disclosure shall not be
unauthorized if (i) it is required by law or by a court of competent jurisdiction or (ii) it is in connection with any judicial, arbitration, dispute resolution or other legal proceeding in which Employee’s legal rights and
obligations as an employee or under this Agreement are at issue; provided, however, that Employee shall, to the extent practicable and lawful in any such events, give prior notice to Employer of his intent to disclose any such Proprietary and
Confidential Information in such context so as to allow Employer or its affiliates an opportunity (which Employee will not oppose) to obtain such protective orders or similar relief with respect thereto as may be deemed appropriate. 
 4.3 All written materials, records, data and information, analyses, and other documents (including, without limitation, any computer-generated,
computer-stored or electronically-stored data and other materials), and all copies thereof, made, composed or received by Employee, solely or jointly with others, and which are in Employee’s possession, custody or control and which are related
in any manner to the past, present or anticipated business of any of the Halliburton Entities (collectively, the “Company Documents”) shall be and remain the property of Employer, or its affiliates, as the case may be. Upon termination of
Employee’s employment with Employer, for any reason, Employee promptly shall deliver the Company Documents, and all copies thereof, to Employer. 
  

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 4.4 For purposes of this Article 4, “affiliates” shall mean the Halliburton Entities and any
entity in which a Halliburton Entity has a 20% or more direct or indirect equity interest. 
 ARTICLE 5 
 MISCELLANEOUS 
 5.1 Except as
otherwise provided in Section 4.4 hereof, for purposes of this Agreement, the terms “affiliate” or “affiliated” means Halliburton Entities and any other entity who directly, or indirectly through one or more intermediaries,
controls, is controlled by, or is under common control with a Halliburton Entity or in which a Halliburton Entity has a 50% or more equity interest. 
 5.2 For purposes of this Agreement, notices and all other communications provided for herein shall be in writing and shall be deemed to have been duly given when received by or tendered to Employee, Halliburton or
Employer, as applicable, by pre-paid courier or by United States registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 
 If to Employer or Halliburton, to Halliburton Company at 5 Houston Center, 1401 McKinney, Suite 2400, Houston, Texas 77010, to the attention of the General Counsel, or to such other address as Employee shall receive
notice thereof. 
 If to Employee, to his last known personal residence. 
 5.3 This Agreement shall be governed by and construed and enforced, in all respects in accordance with the law of the State of Texas, without regard to
principles of conflicts of law, unless preempted by federal law, in which case federal law shall govern; provided, however, that the Halliburton Dispute Resolution Plan and the Federal Arbitration Act shall govern in all respects with regard to the
resolution of disputes hereunder. 
 5.4 No failure by either party hereto at any time to give notice of any breach by the other party of, or
to require compliance with, any condition or provision of this Agreement shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. 
 5.5 It is a desire and intent of the parties that the terms, provisions, covenants, and remedies contained in this Agreement shall be enforceable to the
fullest extent permitted by law. If any such term, provision, covenant, or remedy of this Agreement or the application thereof to any person, association, or entity or circumstances shall, to any extent, be construed to be invalid or unenforceable
in whole or in part, then such term, provision, covenant, or remedy shall be construed in a manner so as to permit its enforceability under the applicable law to the fullest extent permitted by law. In any case, the remaining provisions of this
Agreement or the application thereof to any person, association, or entity or circumstances other than those to which they have been held invalid or unenforceable, shall remain in full force and effect. 
 5.6 It is the mutual intention of the parties to have any dispute concerning this Agreement resolved out of court. Accordingly, the parties agree that
any such dispute shall, as 

  

 9 

 
the sole and exclusive remedy, be submitted for resolution through the Halliburton Dispute Resolution Plan; provided, however, that the Employer, on its own
behalf and on behalf of any of the Halliburton Entities, shall be entitled to seek a restraining order or injunction in any court of competent jurisdiction to prevent any breach or the continuation of any breach of the provisions of Article 4 and
Employee hereby consents that such restraining order or injunction may be granted without the necessity of the Employer posting any bond. The parties agree that the resolution of any such dispute through such Plan shall be final and binding.

 5.7 This Agreement shall be binding upon and inure to the benefit of Employer, to the extent herein provided, Halliburton and any other
person, association, or entity which may hereafter acquire or succeed to all or substantially all of the business or assets of Employer or Halliburton by any means whether direct or indirect, by purchase, merger, consolidation, or otherwise.
Employee’s rights and obligations under this Agreement are personal and such rights, benefits, and obligations of Employee shall not be voluntarily or involuntarily assigned, alienated, or transferred, whether by operation of law or otherwise,
without the prior written consent of Employer, other than in the case of death or incompetence of Employee. 
 5.8 This Agreement replaces
and merges any previous agreements and discussions pertaining to the subject matter covered herein. This Agreement constitutes the entire agreement of the parties with regard to the terms of Employee’s employment, termination of employment and
severance benefits, and contains all of the covenants, promises, representations, warranties, and agreements between the parties with respect to such matters. Each party to this Agreement acknowledges that no representation, inducement, promise, or
agreement, oral or written, has been made by either party with respect to the foregoing matters which is not embodied herein, and that no agreement, statement, or promise relating to the employment of Employee by Employer that is not contained in
this Agreement shall be valid or binding. Any modification of this Agreement will be effective only if it is in writing and signed by each party whose rights hereunder are affected thereby, provided that any such modification must be authorized or
approved by the Compensation Committee or its delegate, as appropriate. 
 5.9 Employee acknowledges that he has thoroughly researched
Halliburton’s and the Employer’s business prospects and has, with the assistance of legal counsel or other advisors, reviewed Halliburton’s public securities filings and is aware of the legal issues facing those companies. Employee
acknowledges that the Employer has no contractual duty or commitment to Employee to complete the IPO or any other registered underwritten public offering that is being contemplated as of the Effective Date. 
 5.10 Notwithstanding anything in this Agreement to the contrary, if any provision in this Agreement would result in the imposition of an applicable tax
under Section 409A of the Internal Revenue Code of 1986, as amended, and related regulations and U.S. Department of Treasury pronouncements (“Section 409A”), the parties agree that such provision will be reformed to avoid imposition
of the applicable tax and no action taken to comply with Section 409A shall be deemed to adversely affect Employee’s rights under this Agreement. 
  

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 IN WITNESS WHEREOF, Employer and Employee have duly executed this Agreement in multiple originals to be
effective on the Effective Date. 
  

			
	KBR TECHNICAL SERVICES, INC.
		
	By: 	 	 /s/ Andrew R. Lane

	Name: 	 	 Andrew R. Lane

	Title: 	 	 EVP & COO, Halliburton

	Date: 	 	 February 21, 2006

	
	EMPLOYEE
	
	/s/ William P. Utt
	William P. Utt
	
	Date: February 17, 2006

  

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