Document:

EX-4.(a)

 Exhibit 4(a) 

FOURTH AMENDING AGREEMENT 

THIS AGREEMENT is made as of January 25, 2016, 

BETWEEN: 
  

	
	 POTASH CORPORATION OF SASKATCHEWAN INC., a corporation subsisting under the laws of Canada (hereinafter referred to as the
“Borrower”),

 OF THE FIRST PART, 

- and - 
  

	
	 THE FINANCIAL INSTITUTIONS SET FORTH ON THE SIGNATURE PAGES HEREOF UNDER THE HEADING “LENDERS:”(hereinafter referred to collectively as the
“Lenders” and individually a Lender), 

 OF THE SECOND PART, 

- and - 
  

	
	 THE BANK OF NOVA SCOTIA, a Canadian chartered bank, as agent of the Lenders (hereinafter referred to as the
“Agent”),

 OF THE THIRD PART. 

WHEREAS the Borrower has requested that each of the Lenders extend the Maturity Date applicable to such Lenders by one year;

 AND WHEREAS Comerica Bank (the “Withdrawing Lender”) will not be continuing as a Lender from and after
the date hereof; 
 AND WHEREAS the parties hereto have agreed to amend and supplement certain provisions of the Credit
Agreement as hereinafter set forth; 
 NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the covenants and
agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby conclusively acknowledged by each of the parties hereto, the parties hereto covenant and agree as follows: 

 

	 1.
	 Interpretation 

  

	 	 1.1
	 In this Agreement and the recitals hereto, unless something in the subject matter or context is inconsistent therewith: 

“Agreement” means this agreement, as amended, modified, supplemented or restated from time to time. 

“Credit Agreement” means the credit agreement made as of December 11, 2009 between the Borrower, The
Bank of Nova Scotia and the other financial institutions party thereto as lenders and 

 
the Agent, as agent of such lenders, as amended and supplemented by the first amending agreement made as of September 23, 2011, the second amending agreement made as of May 24, 2013 and
the third amending agreement made as of July 8, 2014. 
  

	 	 1.2
	 Capitalized terms used herein without express definition shall have the same meanings herein as are ascribed thereto in the Credit Agreement.

  

	 	 1.3
	 The division of this Agreement into Sections and the insertion of headings are for convenience of reference only and shall not affect the
construction or interpretation of this Agreement. The terms “this Agreement”, “hereof’, “hereunder” and similar expressions refer to this Agreement and not to any particular Section or other portion hereof and include
any agreements supplemental hereto. 

  

	 	 1.4
	 This Agreement shall be governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable
therein. 

  

	 2.
	 Extension, Amendments and Supplements 

  

	 	 2.1
	 Extension of Maturity Date. The parties hereto confirm and agree that the Maturity Date applicable to each Lender shall be and is
hereby extended to May 31, 2020. 

  

	 	 2.2
	 Decrease in Credit Facility. The existing definition of “Credit Facility” contained in Section 1.1 of the Credit
Agreement is hereby amended to delete “U.S.$3,500,000,000” where it appears in the first line thereof and to substitute therefor the amount of “U.S.$3,400,000,000”. The parties hereto confirm and agree that the maximum principal
amount of the Credit Facility is decreased to U.S.$3,400,000,000 from U.S.$3,500,000,000. 

  

	 	 2.3
	 New Schedule A; Revised Commitments. Schedule A to the Credit Agreement is hereby deleted in its entirety and replaced with Exhibit 1
attached hereto to confirm the Commitment of each of the Lenders to the amount set forth opposite its name on such new Schedule A. 

  

	 	 2.4
	 New Definitions of “Anti-Corruption Laws”, “Fourth Amendment” and “Patriot Act”. Section 1.1 of
the Credit Agreement is amended by adding the following definitions in the appropriate alphabetical order: 

“ “Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction applicable to the
Borrower or its Subsidiaries from time to time concerning or relating to bribery or corruption.” 
 “
“Fourth Amendment” means the fourth amending agreement dated as of January 25, 2016 between the Lenders, the Agent and the Borrower amending credit agreement made as of December 11, 2009 between the Borrower, the financial
institutions party thereto as lenders and the Agent, as agent of such lenders, as amended and supplemented.” 
 “
“PATRIOT Act” means the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)), as amended from time to time, and any successor statute.” 

 

	 	 2.5
	 Definition of “Applicable Pricing Rate”. The existing definition of “Applicable Pricing Rate” contained in
Section 1.1 of the Credit Agreement is amended by deleting the table contained therein and replacing it with the following: 

									
	 Level
	  	 S&P/Moody’s Rating
	  	 Margin on Canadian Prime

Rate Loans and

U.S. Base Rate Loans
	  	 Margin on Libor Loans and
Acceptance Fees for
Bankers’
Acceptances
	  	 Standby Fee on Credit Facility

					
	 1
	  	 A or above/A2 or above
	  	 0.00% per annum
	  	 0.80% per annum
	  	 0.1600% per annum

					
	 2
	  	 A-/A3
	  	 0.00% per annum
	  	 1.00% per annum
	  	 0.2000% per annum

					
	 3
	  	 BBB+/Baal
	  	 0.20% per annum
	  	 1.20% per annum
	  	 0.2400% per annum

					
	 4
	  	 BBB/Baa2
	  	 0.45% per annum
	  	 1.45% per annum
	  	 0.2900% per annum

					
	 5
	  	 BBB- or below/Baa3 or below or if not rated by either S&P or Moody’s
	  	 0.70% per annum
	  	 1.70% per annum
	  	 0.3400% per annum

  

	 	 2.6
	 Definition of “Canadian Prime Rate”. The existing definition of “Canadian Prime Rate” contained in
Section 1.1 of the Credit Agreement is hereby amended by adding the following as the last sentence thereof: 

“If the Canadian Prime Rate as determined above is less than zero, then the Canadian Prime Rate shall be deemed to be
zero.” 
  

	 	 2.7
	 Definition of “CDOR Rate”. The existing definition of “CDOR Rate” contained in Section 1.1 of the Credit
Agreement is hereby amended by adding the following as the last sentence thereof: 

 “If the CDOR Rate
as determined above is less than zero, then the CDOR Rate shall be deemed to be zero.” 
  

	 	 2.8
	 Definition of “Defaulting Lender”. The existing definition of “Defaulting Lender” contained in
Section 1.1 of the Credit Agreement is hereby amended by adding the following proviso to the end of clause (c) thereof: 

“(provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such
written confirmation by the Agent or the Borrower)” 
  

	 	 2.9
	 Definition of “Libor Rate”. The existing definition of “Libor Rate” contained in Section 1.1
of the Credit Agreement is hereby amended by adding the following as the last sentence thereof: 

 “If
the Libor Rate as determined above is less than zero, then the Libor Rate shall be deemed to be zero.” 
  

	 	 2.10
	 Definition of “Majority of the Lenders”. The existing definition of “Majority of the Lenders” contained in
Section 1.1 of the Credit Agreement is hereby deleted in its entirety and the following is substituted therefor: 

“ “Majority of the Lenders” means those Lenders the Commitments of which are, in the aggregate, at least
50.1% of the Commitments of all Lenders hereunder.” 

	 	 2.11
	 New Representations. Section 8.1 of the Credit Agreement is hereby amended by adding the following as new Section 8.1(o):

 “(o) Anti-Corruption Laws; Sanctions; Anti-Terrorism Laws. 

 

	 	 (i)
	 The Borrower and its Subsidiaries are in compliance with applicable Anti-Corruption Laws and applicable Sanctioned Person Legislation and Sanction
Regulations in all material respects. None of the Borrower, any Subsidiary or to the knowledge of a senior officer of the Borrower any of their respective directors, officers or employees is a Person designated under applicable Sanctioned Person
Legislation or Sanction Regulations. No use of the proceeds of any Loan will violate applicable Anti-Corruption Laws or Sanctioned Person Legislation and Sanction Regulations. 

 

	 	 (ii)
	 Neither the making of the Loans hereunder nor the use of the proceeds thereof will violate the PATRIOT Act, the Trading with the Enemy Act, as
amended, or any of the foreign assets control regulations of the United States Treasury Department (31 C.F.R., Subtitle B, Chapter V, as amended) or any enabling legislation or executive order relating thereto or successor statute thereto. The
Borrower and its Subsidiaries are in compliance in all material respects with the PATRIOT Act, to the extent applicable to them. 

  

	 	 2.12
	 Amendment to Use of Proceeds Covenant. Section 9.1(d) of the Credit Agreement is hereby amended by deleting the period at the
end there of and replacing it with the following: 

 “and shall not use the proceeds of any Loan
(i) to make a payment or give money, or anything else of value, to any Person in violation of any Anti-Corruption Laws or (ii) in any manner that would result in the violation of any applicable Sanctioned Person Legislation and Sanction
Regulations.” 
  

	 	 2.13
	 Deletion of Long Term Debt to EBITDA Covenant. Section 9.1(e) of the Credit Agreement is hereby deleted in its entirety and
replaced with “[Intentionally Deleted]”: 

  

	 	 2.14
	 Debt to Capital Covenant. Section 9.1(f) of the Credit Agreement is hereby amended by deleting the reference therein to
“0.60 to 1” and replacing it with “0.65 to 1”. 

  

	 	 2.15
	 Amendment of Sanctions Covenant. Section 9.1(n) of the Credit Agreement is hereby amended by adding the words “all
Anti-Corruption Laws,” before each occurrence therein of the words “all Sanctioned Person Legislation”. 

  

	 	 2.16
	 New PATRIOT Act Covenant. Section 9.1 of the Credit Agreement is hereby amended by adding the following provision as a new
Section 9.1(o): 

 “(o) PATRIOT Act Compliance. 

 

	 	   
	 The Borrower will, and will cause each Subsidiary to, provide such information and take such actions as are reasonably requested by the Agent or
any Lender in order to assist the Agent and the Lenders in maintaining compliance with the PATRIOT Act.” 

  

	 	 2.17
	 Event of Default Dollar References. 

  

	 	 (a)
	 Sections 10.1(g), 10.1(j) and 10.1(k) of the Credit Agreement are hereby amended to delete each of the references therein to “U.S.$100,000,000
or the Equivalent Amount thereof in 

	 	
Canadian Dollars or the equivalent thereof in any other currency” and, in each case, to substitute therefor a reference to “the greater of (a) U.S.$100,000,000 and (b) 2% of
the amount that would, in accordance with GAAP, be classified upon the consolidated balance sheet of the Borrower at such time as shareholders’ equity (or, in each case, the Equivalent Amount thereof in Canadian Dollars or the equivalent
thereof in any other currency)”; and 

  

	 	 (d)
	 Section 10.1(m) of the Credit Agreement is hereby amended to delete each of the references therein to “the Equivalent Amount in United
States Dollars of U.S.$100,000,000 (or the equivalent thereof in any other currency)” and, in each case, to substitute therefor a reference to “the greater of (a) U.S.$100,000,000 and (b) 2% of the amount that would, in
accordance with GAAP, be classified upon the consolidated balance sheet of the Borrower at such time as shareholders’ equity (or, in each case, the Equivalent Amount thereof in Canadian Dollars or the equivalent thereof in any other
currency)”. 

  

	 	 2.18
	 Capital Adequacy. Section 11.3 of the Credit Agreement is hereby amended by (a) deleting the words “after the date
hereof” contained in the first sentence of clause (1) thereof and replacing them with the words “as of the date of the Fourth Amendment”; and (b) adding the following as a new Section 11.3(3): 

“(3) Without limiting the generality of the foregoing, the term “change” as that term is used in the first
sentence of Section 11.3(1) shall include (i) any change after the date of the Fourth Amendment in the Risk-Based Capital Guidelines or (ii) any adoption of or change in any other law, governmental or quasi-governmental rule,
regulation, policy, guideline, interpretation, or directive (whether or not having the force of law) or in the interpretation, promulgation, implementation or administration thereof after the date of the Fourth Amendment which affects the amount of
capital required or expected to be maintained by any Lender or any corporation controlling any Lender. “Risk-Based Capital Guidelines” means (i) the risk-based capital guidelines in effect in the United States on the date of the
Fourth Amendment, including transition rules, and (ii) the corresponding capital regulations promulgated by regulatory authorities outside the United States including transition rules, and any amendments to such regulations adopted prior to the
date of the Fourth Amendment.” 
  

	 	 2.19
	 Exchange and Confidentiality of Information. Section 14.1 of the Credit Agreement is hereby amended by deleting the
“and” at the end of clause (g), replacing the “.” at the end of clause (h) with “;” and adding the following new clauses at the end thereof: 

 

	 	 “(i)
	 the Agent and the Lenders may disclose the Information to any actual or prospective party to any swap, derivative or other transaction under which
payments are to be made by reference to the Borrower and its obligations, this Agreement or payments hereunder where such party agrees to be under a like duty of confidentiality to that contained in this Section; 

 

	 	 (j)
	 the Agent and the Lenders may disclose the Information on a confidential basis to any rating agency in connection with rating the Borrower or its
Subsidiaries or the Credit Facility; and 

  

	 	 (k)
	 the Agent and the Lenders may disclose the existence of this Agreement and information about this Agreement to market data collectors, similar
service providers to the lending industry and service providers to the Agents and the Lenders in connection with the administration of this Agreement, the other Documents, and the Commitments.” 

 

	 	 2.20
	 Defaulting Lender Repurchase. Section 14.2(5) of the Credit Agreement is hereby amended by adding words “at par”
immediately following the word “purchase”. 

	 	 2.21
	 Lender Assignment. Section 14.6(1) of the Credit Agreement is hereby amended by adding the following as a new
Section 14.6(1): 

 “(1) Any Lender may, with the prior written consent of each of the Borrower,
each Swingline Lender and the Agent, which consents shall not be unreasonably withheld, conditioned or delayed, assign an interest in its Commitment, its Rateable Portion of the Loans and its rights under the Documents; provided that (a) such
consent of (i) the Borrower shall not be required during the continuance of an Event of Default and (ii) the consent of the Borrower, each Swingline Lender and the Agent shall not be required if such assignment is to a Lender or an
Affiliate of a Lender, (b) except during the continuance of an Event of Default or except with the consent of the Borrower and the Agent, such consents not to be unreasonably withheld, conditioned or delayed, no Lender shall, without the
consent of the Borrower and the Agent, assign an interest in its Commitment if the effect of the same would be to have a Lender with a Commitment of less than U.S.$25,000,000 (such amount to be reduced in proportion to any partial reductions in the
Credit Facility), (c) it shall be a precondition to any such assignment that the contemplated assignee Lender shall have paid to the Agent, for the Agent’s own account, a transfer fee of U.S.$3,500.00, and (d) no such assignment shall
be made to (i) the Borrower or any of the Borrower’s Affiliates or Subsidiaries or (ii) to a natural person (or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural person).
Upon any such assignment, the assigning Lender shall have no further obligation hereunder with respect to such interest. Upon any such assignment, the assigning Lender, the assignee Lender, the Agent and, if applicable, the Borrower shall execute
and deliver an Assignment Agreement. Subject to the provisions of Section 9.2(b), the Borrower shall not assign its rights or obligations hereunder without the prior written consent of all of the Lenders. 

 

	 3.
	 Fees 

The Borrower hereby agrees to pay to the Agent, for each existing Lender which is extending the Maturity Date applicable to it
pursuant hereto, a fee in United States Dollars in an amount equal to 0.045% of the Commitment of each such Lender. 
  

	 4.
	 Representations and Warranties 

The Borrower hereby represents and warrants as follows to each Lender and the Agent and acknowledges and confirms that each
Lender and the Agent is relying upon such representations and warranties: 
  

	 	 (a)
	 Status and Power 

It is a corporation duly incorporated and organized and validly subsisting in good standing under the laws of Canada. It is
duly qualified, registered or licensed in all jurisdictions where such qualification, registration or licensing is required, except where the failure to be so qualified would not have and would not reasonably be expected to have a Material Adverse
Effect. It has all requisite capacity, power and authority to own, hold under licence or lease its properties necessary for the conduct of its business and to carry on its business as currently conducted. It has all requisite corporate capacity,
power and authority to enter into and carry out the transactions contemplated by this Agreement. 
  

	 	 (b)
	 Authorization and Enforcement 

All necessary action, corporate or otherwise, has been taken to authorize the execution, delivery and performance by the
Borrower of this Agreement. It has duly executed and 

 
delivered this Agreement. This Agreement is a legal, valid and binding obligation of the Borrower enforceable against the Borrower by the Agent and the Lenders in accordance with its terms,
subject to applicable bankruptcy, reorganization, winding-up, insolvency, moratorium or other laws of general application affecting the enforcement of creditors’ rights generally and to the equitable and statutory powers of the courts having
jurisdiction with respect thereto. 
  

	 	 (c)
	 Compliance with Other Instruments 

The execution, delivery and performance by the Borrower of this Agreement and the consummation of the transactions
contemplated herein do not conflict with, result in any breach or violation of, or constitute a default under the terms, conditions or provisions of the charter or constating documents or by-laws of, or any unanimous shareholder agreement relating
to, the Borrower or of any law, regulation, judgment, decree or order binding on or applicable to the Borrower or to which its property is subject or of any material agreement, lease, licence, permit or other instrument to which the Borrower is a
party or is otherwise bound or by which the Borrower benefits or to which its property is subject and do not require the consent or approval of any Governmental Authority or any other party of which the failure to have received or obtained would
have or would reasonably be expected to have a Material Adverse Effect. 
  

	 	 (d)
	 No Default 

No Default or Event of Default has occurred and is continuing. 

 

	 	 (e)
	 Credit Agreement Representations and Warranties 

Each of the representations and warranties of the Borrower set forth in Article 8 of the Credit Agreement is true and accurate
in all material respects as of the date hereof (except those representations and warranties which are stated to be made as at a specific date which were correct as of the date given). 

The representations and warranties set out in this Agreement shall survive the execution and delivery of this Agreement and the
making of each Drawdown, notwithstanding any investigations or examinations which may be made by or on behalf of the Agent, the Lenders or Lenders’ Counsel. Such representations and warranties shall survive until the Credit Agreement has been
terminated. 
  

	 5.
	 Condition Precedent 

The amendments and supplements to the Credit Agreement contained in herein shall be effective upon, and shall be subject to,
the conditions precedent: 
  

	 	 5.1
	 the Borrower shall have delivered to the Agent a fully executed copy of this Agreement; 

 

	 	 5.2
	 the Borrower shall have delivered to the Agent an assignment or withdrawal letter from the Withdrawing Lender, in a form satisfactory to the
Withdrawing Lender, the Agent and the Borrower (each acting reasonably), and payment of all amounts due to such Withdrawing Lender under the Credit agreement, subject to the terms of such withdrawal letter; and 

	 	 5.3
	 the Borrower shall have paid to the Agent, for each applicable Lender, all fees agree to in writing by the Borrower including the fees required to
be paid pursuant to Section 3 hereof. 

 The foregoing conditions precedents are inserted for the sole
benefit of the Lenders and the Agent and may be waived in writing by the Lenders, in whole or in part (with or without terms and conditions). 
  

	 6.
	 Confirmation of Credit Agreement and other Documents 

The Credit Agreement and the other Documents to which the Borrower is a party and all covenants, terms and provisions thereof,
except as expressly amended and supplemented by this Agreement, shall be and continue to be in full force and effect and the Credit Agreement as amended and supplemented by this Agreement and each of the other Documents to which the Borrower is a
party is hereby ratified and confirmed and shall from and after the date hereof continue in full force and effect as herein amended and supplemented, with such amendments and supplements in Section 2 hereof being effective from and as of the
date hereof upon satisfaction of the condition precedent set forth in Section 5 hereof 
  

	 7.
	 Further Assurances 

The parties hereto shall from time to time do all such further acts and things and execute and deliver all such documents as
are required in order to effect the full intent of and fully perform and carry out the terms of this Agreement. 
  

	 8.
	 Enurement 

This Agreement shall enure to the benefit of and shall be binding upon the parties hereto and their respective successors and
permitted assigns. 
  

	 9.
	 Counterparts 

This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which
taken together shall be deemed to constitute one and the same instrument, and it shall not be necessary in making proof of this Agreement to produce or account for more than one such counterpart. Such executed counterparts may be delivered by
facsimile or other electronic transmission and, when so delivered, shall constitute a binding agreement of the parties hereto. 
 [the
remainder of this page has intentionally been left blank] 

 IN WITNESS WHEREOF the parties hereto have executed this Agreement. 

 

					
	 POTASH CORPORATION OF
SASKATCHEWAN INC.

		
	 By:
	 	 /s/ Wayne Brownlee

		 	 Name:
	 	 Wayne Brownlee

		 	 Title:
	 	 Executive VP & CEO

 
					
		
	 By:
	 	 /s/ Kevin Graham

		 	 Name:
	 	 Kevin Graham

		 	 Title:
	 	 SVP, Strategy and Corporate
Development

  
 Fourth Amending Agreement
– Potash (Syndicated) 

 
					
	 LENDERS:

	
	 THE BANK OF NOVA SCOTIA

		
	 By:
	 	 /s/ Jeff Cebryk

		 	 Name:
	 	 Jeff Cebryk

		 	 Title:
	 	 Managing Director & Head

		
	 By:
	 	 /s/ Chris Freeman

		 	 Name:
	 	 Chris Freeman

		 	 Title:
	 	 Associate Director

	
	 ROYAL BANK OF CANADA

		
	 By:
	 	 /s/ Stam Fountoulakis

		 	 Name:
	 	 Stam Fountoulakis

		 	 Title:
	 	 Authorized Signatory

	
	 BANK OF MONTREAL

		
	 By:
	 	 /s/ Matthew Brink

		 	 Name:
	 	 Matthew Brink

		 	 Title:
	 	 Vice President

	
	 EXPORT DEVELOPMENT CANADA

		
	 By:
	 	 /s/ Tamara Fathl

		 	 Name:
	 	 Tamara Fathl

		 	 Title:
	 	 Senior Associate

		
	 By:
	 	 /s/ Christine de Billy

		 	 Name:
	 	 Christine de Billy

		 	 Title:
	 	 Senior Financing Manager

  
 Fourth Amending Agreement
– Potash (Syndicated) 

 
					
	 CANADIAN IMPERIAL BANK OF

COMMERCE

		
	 By:
	 	 /s/ Kevin Charko

		 	 Name:
	 	 Kevin Charko

		 	 Title:
	 	 Executive Director

		
	 By:
	 	 /s/ Stephen Redding

		 	 Name:
	 	 Stephen Redding

		 	 Title:
	 	 Managing Director

	
	 RABOBANK NEDERLAND, CANADIAN

BRANCH

		
	 By:
	 	 /s/ Raj Joshi

		 	 Name:
	 	 Raj Joshi

		 	 Title:
	 	 Executive Director

		
	 By:
	 	 /s/ Valter Lourenco

		 	 Name:
	 	 Valter Lourenco

		 	 Title:
	 	 Vice President

Senior Credit Analyst

	
	 THE TORONTO-DOMINION BANK

		
	 By:
	 	 /s/ Tim Thomas

		 	 Name:
	 	 Tim Thomas

		 	 Title:
	 	 Managing Director

		
	 By:
	 	 /s/ Stephen O’Neil

		 	 Name:
	 	 Stephen O’Neil

		 	 Title:
	 	 Vice President

	
	 BANK OF AMERICA, N.A., CANADA BRANCH

		
	 By:
	 	 /s/ Sylwia Durkiewicz

		 	 Name:
	 	 Sylwia Durkiewicz

		 	 Title:
	 	 Vice President

  
 Fourth Amending Agreement
– Potash (Syndicated) 

 
					
	 HSBC BANK CANADA

		
	 By:
	 	 /s/ Jean-Philippe Gariazzo

		 	 Name:
	 	 Jean-Philippe Gariazzo

		 	 Title:
	 	 Director

		
	 By:
	 	 /s/ Glen Chui

		 	 Name:
	 	 Glen Chui

		 	 Title:
	 	 Associate

	
	 BANK OF TOKYO-MITSUBISHI UFJ

(CANADA)

		
	 By:
	 	 /s/ Daniel Nanson

		 	 Name:
	 	 Daniel Nanson

		 	 Title:
	 	 Managing Director

	
	 GOLDMAN SACHS LENDING PARTNERS

LLC

		
	 By:
	 	 /s/ Rebecca Kratz

		 	 Name:
	 	 Rebecca Kratz

		 	 Title:
	 	 Authorized Signatory

	
	 MORGAN STANLEY BANK, N.A.

		
	 By:
	 	 /s/ Michael King

		 	 Name:
	 	 Michael King

		 	 Title:
	 	 Authorized Signatory

	
	 UBS AG CANADA BRANCH

		
	 By:
	 	 /s/ Darlene Arias

		 	 Name:
	 	 Darlene Arias

		 	 Title:
	 	 Director

		
	 By:
	 	 /s/ Houssem Daly

		 	 Name:
	 	 Houssem Daly

		 	 Title:
	 	 Associate Director

  
 Fourth Amending Agreement
– Potash (Syndicated) 

 
					
	 US BANK, NATIONAL ASSOCIATION,

CANADA BRANCH

		
	 By:
	 	 /s/ John P. Rehob

		 	 Name:
	 	 John P. Rehob

		 	 Title:
	 	 Vice President CTP and Principal Officer

	
	 SUMITOMO MITSUI BANKING

CORPORATION OF CANADA

		
	 By:
	 	 /s/ Ming Chang

		 	 Name:
	 	 Ming Chang

		 	 Title:
	 	 Managing Director

	
	 CREDIT AGRICOLE CORPORATE AND

INVESTMENT BANK

		
	 By:
	 	 /s/ Gordon Yip

		 	 Name:
	 	 Gordon Yip

		 	 Title:
	 	 Director

		
	 By:
	 	 /s/ Myra Martinez

		 	 Name:
	 	 Myra Martinez

		 	 Title:
	 	 Vice President

  
 Fourth Amending Agreement
– Potash (Syndicated) 

 
					
	 AGENT:

	
	 THE BANK OF NOVA SCOTIA,

in its capacity as Agent

		
	 By:
	 	 /s/ Jeff Cebryk

		 	 Name:
	 	 Jeff Cebryk

		 	 Title:
	 	 Managing Director & Head

  
 Fourth Amending Agreement
– Potash (Syndicated) 

 EXHIBIT 1 

SCHEDULE A 
 LENDERS
AND COMMITMENTS 
  

					
	 Lender
	  	 Commitment
	  	 Swingline Sub-Commitment

			
	 The Bank of Nova Scotia
	  	 Commitment: U.S.$400,000,000
	  	 Swingline Sub-Commitment:

U.S.$125,000,000

			
	 Bank of Montreal
	  	 Commitment: U.S.$400,000,000
	  	 Swingline Sub-Commitment:

U.S.$125,000,000

			
	 Royal Bank of Canada
	  	 Commitment: U.S.$400,000,000
	  	 Swingline Sub-Commitment:

U.S.$125,000,000

			
	 Bank of America, N.A., Canada Branch
	  	 Commitment: U.S.$200,000,000
	  	
			
	 Bank of Tokyo-Mitsubishi UFJ (Canada)
	  	 Commitment: U.S.$200,000,000
	  	
			
	 Canadian Imperial Bank of Commerce
	  	 Commitment: U.S.$200,000,000
	  	 Swingline Sub-Commitment:

U.S.$62,500,000

			
	 HSBC Bank Canada
	  	 Commitment: U.S.$200,000,000
	  	
			
	 Rabobank Nederland, Canadian Branch
	  	 Commitment: U.S.$200,000,000
	  	
			
	 The Toronto-Dominion Bank
	  	 Commitment: U.S.$200,000,000
	  	 Swingline Sub-Commitment:

U.S.$62,500,000

			
	 Export Development Canada
	  	 Commitment: U.S.$175,000,000
	  	
			
	 Goldman Sachs Lending Partners LLC
	  	 Commitment: U.S.$150,000,000
	  	
			
	 Morgan Stanley Bank, N.A.
	  	 Commitment: U.S.$150,000,000
	  	
			
	 UBS AG Canada Branch
	  	 Commitment: U.S.$150,000,000
	  	
			
	 Credit Agricole Corporate and Investment Bank
	  	 Commitment: U.S.$125,000,000
	  	

					
	 Lender
	  	 Commitment
	  	 Swingline Sub-Commitment

			
	 Sumitomo Mitsui Banking Corporation of Canada
	  	 Commitment: U.S.$125,000,000
	  	
			
	 US Bank, National Association, Canada Branch
	  	 Commitment: U.S.$125,000,000EX-10.1

 Exhibit 10.1 

NOBLE ENERGY, INC. 
 1992
STOCK OPTION AND RESTRICTED STOCK PLAN 
 2016 PERFORMANCE AWARD AGREEMENT 

[3-YEAR PERFORMANCE VESTED STOCK AND CASH] 

THIS AGREEMENT is made and entered into as of the      day of
            , 2016, by and between NOBLE ENERGY, INC., a Delaware corporation (the “Company”), and
                                        
(“Employee”). 
 WHEREAS, the Compensation, Benefits and Stock Option Committee of the Company’s Board of Directors (the
“Committee”), acting under the Company’s 1992 Stock Option and Restricted Stock Plan as amended and restated effective October 20, 2015 (the “Plan”), has the authority to award restricted shares of the common stock of
the Company and Cash Awards to certain employees of the Company or an Affiliate; and 
 WHEREAS, pursuant to the Plan the Committee has
determined to make such awards to Employee on the terms and conditions and subject to the restrictions set forth in the Plan and this Agreement, and Employee desires to accept such awards; 

NOW, THEREFORE, in consideration of the premises and mutual covenants and agreements contained herein, the receipt and sufficiency of which
are hereby acknowledged, the parties hereby agree as follows: 
 1. Definitions. For the purposes of this Agreement: 

(a) “Bonus Award” is defined in Section 3(a). 

(b) “Bonus Phantom Units” are defined in Section 3(a). 

(c) “Bonus Phantom Unit Value” is defined in Section 3(a). 

(d) “Dividend Equivalents” are defined in Section 3(b). 

(e) “Effective Date” means the date first written above. 

(f) “Peer Group” means the group of companies consisting of each of the following companies in existence as of the beginning of the
Performance Period and which continues in existence as an independent publicly traded corporation through the end of the Performance Period: 
  

			
	 Anadarko Petroleum Corp.
 Apache Corp.

Cabot Oil & Gas Corp.
 Chesapeake Energy Corp.

Continental Resources, Inc.
 Devon Energy Corp.

EOG Resources, Inc.
 Hess Corporation
	 	 Marathon Oil Corporation
 Murphy Oil Corp.

Noble Energy, Inc.
 Pioneer Natural Resources Company

Range Resources Corp.
 Southwestern Energy Company

 For this purpose, a company shall not be considered to cease to be in existence merely on account of a name
change, internal restructuring or reorganization, or similar event, if the company (or its successor) continues as substantially the same business following the change or event. 

(g) “Performance Award” is defined in Section 2. 

(h) “Performance Period” means the period of time commencing on January 1, 2016, and ending on December 31, 2018. 

(i) “Performance Restricted Shares” are defined in Section 2. 

(j) “Total Shareholder Return” for the Company and for the other Peer Group companies shall be determined on the basis of the total
investment performance that would have resulted at the end of the Performance Period from investing $100 in the common stock of the Company and each of the other companies in the Peer Group, using a beginning stock price and an ending stock price
equal to the average closing price for the month of December immediately preceding the beginning of the Performance Period and the month of December immediately preceding the end of the Performance Period, respectively, and with all dividends
reinvested. 
 (k) “Vesting Date” means the third anniversary of the Effective Date. 

2. Performance Restricted Stock Award. On the terms and conditions and subject to the restrictions, including forfeiture, hereinafter
set forth, the Company hereby awards to Employee as of the Effective Date, and Employee hereby accepts, a performance-based restricted stock award (the “Performance Award”) of
             shares (the “Performance Restricted Shares”) of common stock of the Company. The Performance Restricted Shares shall be issued in book-entry or stock certificate form
in the name of Employee as of the Effective Date. The Performance Restricted Shares shall be held by the Company in escrow for Employee’s benefit until such time as the Performance Restricted Shares are either forfeited by Employee to the
Company or the restrictions thereon terminate as set forth in this Agreement. Employee shall not retain physical custody of any certificates representing Performance Restricted Shares issued to Employee until such time as the restrictions on such
Performance Restricted Shares terminate as set forth in this Agreement. Employee, by acceptance of the Performance Award, shall be deemed to appoint, and does so appoint, the Company and each of its authorized representatives as Employee’s
attorney(s)-in-fact to effect any transfer of forfeited Performance Restricted Shares to the Company as may be required pursuant to the Plan or this Agreement, and to execute such representations or other documents or assurances as the Company or
such representatives deem necessary or advisable in connection with any such transfer. To the extent allowable by applicable law, the Company, or its designee, shall not be liable for any act it may do or omit to do with respect to holding the
Performance Restricted Shares in escrow while acting in good faith in the exercise of its judgment. 

  
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 3. Bonus Award. 

(a) Bonus Phantom Units. On the terms and conditions and subject to the restrictions, including forfeiture, hereinafter set forth, the
Company hereby awards to Employee as of the Effective Date, and Employee hereby accepts, an additional performance-based Cash Award (the “Bonus Award”) to be determined by the value of the phantom units awarded hereunder (the “Bonus
Phantom Units”) and the Dividend Equivalents described in Section 3(b) below. Employee is hereby awarded              Bonus Phantom Units, with each Bonus Phantom Unit
representing a hypothetical interest in the Company that is equivalent in value to the “Bonus Phantom Unit Value,” which is the lesser of (i) the Fair Market Value of a share of common stock of the Company (and/or any successor
securities or other property attributable to the common stock of the Company that may result from a Change in Control) as of the Vesting Date or Change in Control Vesting Date, as applicable, or (ii) four times the Fair Market Value of a share
of common stock of the Company as of the Effective Date. 
 (b) Dividend Equivalents. Subject to the vesting and forfeiture
provisions of Section 4 below, Employee shall be entitled to dividend equivalents with respect to the Bonus Phantom Units (“Dividend Equivalents”) as set forth below. If prior to the vesting or forfeiture of the Bonus Phantom Units,
the Company makes a cash dividend or distribution payment to its shareholders with respect to the common stock of the Company, Employee shall be entitled to Dividend Equivalents equal in amount to the product of (i) the amount of the cash
dividend or distribution made with respect to a share of common stock of the Company, multiplied by (ii) the number of Bonus Phantom Units awarded hereunder. Dividend Equivalents shall be accrued and paid in accordance with Section 4
below. For the avoidance of doubt, no Dividend Equivalents shall result from declared but unpaid dividends and distributions. 
 4.
Vesting and Forfeiture. 
 (a) General. Until the Vesting Date, (i) the Performance Restricted Shares shall be subject to
being forfeited by Employee to the Company as provided in this Agreement, (ii) Employee may not sell, assign, transfer, discount, exchange, pledge or otherwise encumber or dispose of any of the Performance Restricted Shares unless the
restrictions applicable to such shares have terminated in accordance with the provisions of this Agreement or the Plan, and (iii) the Bonus Phantom Units and Dividend Equivalents shall be subject to being forfeited by Employee as provided in
this Agreement. 
 (b) Performance Restricted Shares. On the Vesting Date, a percentage, determined in accordance with the schedule
below and subject to the Committee’s discretionary authority described in Section 4(b)(iv), of the Performance Restricted Shares (rounded down to the nearest whole share) awarded to Employee pursuant to Section 2 hereof that are still
outstanding and not previously forfeited shall vest and 

  
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become nonforfeitable, and the restrictions applicable hereunder to such vested Performance Restricted Shares shall terminate. The vested percentage determined in accordance with the schedule
below shall be based upon the level of the Company’s Total Shareholder Return relative to the Total Shareholder Return of the companies in the Peer Group, all determined at the end of the Performance Period. Any Performance Restricted Shares
that do not become vested as of the Vesting Date shall be forfeited by Employee and transferred to the Company at no cost to the Company. 
  

					
	 Company’s Total Shareholder Return Relative to Peer Group Companies
	  	Percentage
of Shares
Vested	 
		
	 50th percentile or above
	  	 	100	% 
	 25th percentile
	  	 	50	% 
	 Below 25th percentile
	  	 	None	  

 (i) If the percentile level of the Company’s Total Shareholder Return is between two
levels indicated on the foregoing schedule, the amount earned under such schedule shall be determined on the basis of a straight-line interpolation between such levels. 

(ii) If Employee’s employment with the Company or an Affiliate terminates prior to the Vesting Date by reason of
Employee’s death or Disability, the restrictions applicable hereunder to all of the Performance Restricted Shares that are still subject to the restrictions of this Agreement shall terminate. 

(iii) If Employee’s employment with the Company or an Affiliate terminates prior to the Vesting Date for any reason other
than Employee’s death or Disability, then on the date of such termination of employment all of the Performance Restricted Shares shall be forfeited by Employee and transferred to the Company at no cost to the Company. 

(iv) As soon as practicable (but in no event later than 60 days) after the termination of the restrictions applicable hereunder
to all or a portion of the Performance Restricted Shares, such Performance Restricted Shares with respect to which the restrictions have terminated, together with any dividends or other distributions with respect to such shares then being held by
the Company pursuant to the provisions of this Agreement, shall be delivered to Employee free of such restrictions. Prior to the issuance of the Performance Restricted Shares pursuant to this Section 4(b)(iv), the Committee shall determine and
certify in writing (i) the level of the Company’s Total Shareholder Return relative to the Total Shareholder Return of the companies in the Peer Group, both determined at the end of the Performance Period and (ii) whether the other
material terms of the Performance Award have been satisfied. The Committee in its sole and absolute discretion shall have the authority to reduce, but not to increase, the number of Performance Restricted Shares to be issued, retained or vested
pursuant to the Performance Award. 

  
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 (c) Bonus Phantom Units. On the Vesting Date, a percentage, determined in accordance with
the schedule below and subject to the Committee’s discretionary authority described in Section 4(c)(iv), of the Bonus Phantom Units (rounded down to the nearest whole share) awarded to Employee pursuant to Section 3(a) hereof that are
still outstanding and not previously forfeited, along with any accrued Dividend Equivalents thereon, shall vest and become nonforfeitable. The vested percentage determined in accordance with the schedule below, shall be based upon the level of the
Company’s Total Shareholder Return relative to the Total Shareholder Return of the companies in the Peer Group, all determined at the end of the Performance Period. Any Bonus Phantom Units that do not become vested as of the Vesting Date shall,
along with any accrued Dividend Equivalents thereon, be forfeited by Employee. 
  

					
	 Company’s Total Shareholder Return Relative to Peer Group Companies
	  	Percentage
of Shares
Earned	 
		
	 90th percentile or above
	  	 	100	% 
	 75th percentile
	  	 	50	% 
	 50th percentile or below
	  	 	None	  

 (i) If the percentile level of the Company’s Total Shareholder Return is between two
levels indicated on the foregoing schedule, the amount earned under such schedule shall be determined on the basis of a straight-line interpolation between such levels. 

(ii) Notwithstanding the foregoing, if the Total Shareholder Return at the end of the Performance Period is less than zero, all
of the Bonus Phantom Units and Dividend Equivalents shall be forfeited by Employee. 
 (iii) If Employee’s employment
with the Company or an Affiliate terminates prior to the Vesting Date for any reason, then on the date of such termination of employment all of the Bonus Phantom Units and Dividend Equivalents shall be forfeited by Employee. 

(iv) As soon as practicable (but in no event later than 60 days) after the Vesting Date, the Company shall make a lump sum cash
payment to Employee (or in the event of Employee’s death, to Employee’s estate) in an amount equal to the sum of (i) the product of the Bonus Phantom Unit Value as of the Vesting Date, multiplied by the number of Bonus Phantom Units
which are vested as of the Vesting Date, and (ii) any accrued Dividend Equivalents relating to such vested Bonus Phantom Units. Prior to payment on the Bonus Phantom Units pursuant to this Section 4(c)(iv), the Committee shall determine
and certify in writing (i) the level of the Company’s Total Shareholder Return relative to the 

  
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Total Shareholder Return of the companies in the Peer Group, both determined at the end of the Performance Period and (ii) whether the other material terms of the Bonus Award have been
satisfied. The Committee in its sole and absolute discretion shall have the authority to reduce, but not to increase, the number of Bonus Phantom Units to be vested pursuant to the Bonus Award. 

(v) Notwithstanding Section 4(c)(iv), in the event that the Board determines that making all or a portion of the payment
under Section 4(c)(iv) would jeopardize the ability of the Company to continue as a going concern, the Board may delay such payment or portion thereof until the making of the payment or portion thereof would no longer have such effect. 

(d) Change in Control. In accordance with the provisions of Section 17 of the Plan, if a Change in Control occurs prior to the
last day of the Performance Period and while Employee is employed by the Company or an Affiliate and is followed by the termination of Employee’s employment (i) by the Company or its Affiliate, as applicable, for reasons other than a
Termination for Cause, or (ii) by Employee on account of Good Reason, within the 24-month period following the date of such Change in Control, (1) a percentage, determined in accordance with Section 4(b) (except for the last sentence
of Section 4(b)(iv) giving the Committee discretionary authority to further reduce the Performance Shares issued, retained or vested, which shall not apply), but based upon the level of the Company’s Total Shareholder Return relative to
the Total Shareholder Return of the companies in the Peer Group as determined on the last day of the month immediately preceding the date of the termination of Employee’s employment, of all of the Performance Restricted Shares (rounded down to
the nearest whole share) that are still outstanding and subject to the restrictions of this Agreement shall become nonforfeitable and the other restrictions applicable hereunder to such shares shall terminate, and (2) a percentage, determined
in accordance with Section 4(c) (except for the last sentence of Section 4(c)(iv) giving the Committee discretionary authority to further reduce the number of Bonus Phantom Units to be vested, which shall not apply), but based upon the
level of the Company’s Total Shareholder Return relative to the Total Shareholder Return of the companies in the Peer Group as determined on the last day of the month immediately preceding the date of the termination of Employee’s
employment, of all of the Bonus Phantom Units (rounded down to the nearest whole share) that are still outstanding and subject to the restrictions of this Agreement, along with any accrued Dividend Equivalents thereon, shall vest and become
nonforfeitable as of the date of such termination of employment (the “Change in Control Vesting Date”). As soon as practicable (but in no event later than 60 days) after the termination of such restrictions, the Performance Restricted
Shares (and/or any successor securities or other property attributable to the Performance Restricted Shares that may result from the Change in Control), together with any dividends or other distributions with respect to such shares then being held
by the Company pursuant to the provisions of this Agreement, shall be delivered to Employee free of such restrictions. As soon as practicable (but in no event later than 60 days) after the Change in Control Vesting Date, the Company shall make a
lump sum cash payment to Employee (or in the event of Employee’s death, to Employee’s estate) in an amount equal to the sum of (i) the product of the Bonus Phantom Unit Value as of the Change in Control Vesting Date, multiplied by the
number of Bonus Phantom Units which vested under this Section 4(d), and (ii) any accrued Dividend Equivalents relating to such vested Bonus Phantom Units. 

(e) For the purposes of this Agreement, transfers of employment without interruption of service between or among the Company and its
Affiliates shall not be considered a termination of employment. 

  
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 5. Rights as Shareholder. 

(a) Performance Restricted Shares. Subject to the provisions of this Agreement, upon the issuance of the Performance Restricted Shares
to Employee, Employee shall become the owner thereof for all purposes and shall have all rights as a stockholder, including voting rights and the right to receive dividends and distributions, with respect to the Performance Restricted Shares. If the
Company shall pay or declare a dividend or make a distribution of any kind, whether due to a reorganization, recapitalization or otherwise, with respect to the shares of Company common stock constituting the Performance Restricted Shares, then the
Company shall pay or make such dividend or other distribution with respect to the Performance Restricted Shares; provided, however, that with respect to any of the Performance Restricted Shares that are still subject to the restrictions of this
Agreement, the cash, stock or other securities and other property constituting such dividend or other distribution pertaining to such Performance Restricted Shares shall be held by the Company subject to the restrictions applicable hereunder to such
Performance Restricted Shares until such Performance Restricted Shares are either forfeited by Employee and transferred to the Company or the restrictions thereon terminate as set forth in this Agreement. If the Performance Restricted Shares with
respect to which such dividend or distribution was paid or made are forfeited by Employee pursuant to the provisions hereof, then Employee shall not be entitled to receive such dividend or distribution and such dividend or distribution shall
likewise be forfeited and transferred to the Company. If the restrictions applicable to the Performance Restricted Shares with respect to which such dividend or distribution was paid or made terminate in accordance with the provisions of this
Agreement, then Employee shall be entitled to receive such dividend or distribution with respect to such shares, without interest, and such dividend or distribution shall likewise be delivered to Employee. 

(b) Bonus Phantom Units. A grant of Bonus Phantom Units is not an equity interest in the Company and shall not entitle Employee to
voting rights, the right to receive dividends or distributions, or any other rights of a shareholder. 
 6. Withholding Taxes. 

(a) Employee may elect, within 30 days of the Effective Date and on notice to the Company, to realize income for federal income tax purposes
equal to the fair market value of the Performance Restricted Shares on the Effective Date. In such event, Employee shall make arrangements satisfactory to the Company or the appropriate Affiliate to pay in the year of the Performance Award any
federal, state or local taxes required to be withheld with respect to such shares. Such arrangements may include, to 

  
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the extent such arrangements are acceptable to the Company or such Affiliate and do not provide for tax withholding in amounts in excess of the minimum withholding requirements contemplated by
SFAS 123(R), the transfer of shares of Common Stock, other than the Performance Restricted Shares, to the Company or such Affiliate for application to satisfy such withholding requirements on the basis of the Fair Market Value of such shares on the
date of transfer to the Company or such Affiliate. If Employee fails to make such payments, then any provision of this Agreement to the contrary notwithstanding, the Company and its Affiliates shall, to the extent permitted by law, have the right to
deduct from any payments of any kind otherwise due from the Company or an Affiliate to or with respect to Employee, whether or not pursuant to this Agreement, or the Plan and regardless of the form of payment, any federal, state or local taxes of
any kind required by law to be withheld with respect to the Performance Restricted Shares. 
 (b) If no election is made by Employee
pursuant to Section 4(a) hereof, then upon the termination of the restrictions applicable hereunder to the Performance Restricted Shares, Employee (or in the event of Employee’s death, the administrator or executor of Employee’s
estate) will pay to the Company or the appropriate Affiliate, or make arrangements satisfactory to the Company or such Affiliate regarding payment of, any federal, state or local taxes of any kind required by law to be withheld with respect to the
Performance Restricted Shares. Such arrangements may include, to the extent such arrangements are acceptable to the Company or such Affiliate and do not provide for tax withholding in amounts in excess of the minimum withholding requirements
contemplated by SFAS 123(R), the transfer of Performance Restricted Shares that have become nonforfeitable and no longer subject to restrictions hereunder or other shares of Common Stock to the Company or such Affiliate for application to satisfy
such withholding requirements on the basis of the Fair Market Value of such shares on the date of transfer to the Company or such Affiliate. If Employee (or in the event of Employee’s death, the administrator or executor of Employee’s
estate) fails to make such payments, then any provision of this Agreement to the contrary notwithstanding, the Company and its Affiliates shall, to the extent permitted by law, have the right to deduct from any payments of any kind otherwise due
from the Company or an Affiliate to or with respect to Employee, whether or not pursuant to this Agreement, or the Plan and regardless of the form of payment, any federal, state or local taxes of any kind required by law to be withheld with respect
to the Performance Restricted Shares. 
 (c) With respect to the Bonus Phantom Units, the Company and its Affiliates shall, to the extent
permitted by law, have the right to deduct from any cash payments made hereunder to Employee any federal, state or local taxes of any kind required by law to be withheld with respect to such payments. 

8. Effect on Employment. Nothing contained in this Agreement shall confer upon Employee the right to continue in the employment of the
Company or an Affiliate, or affect any right which the Company or an Affiliate may have to terminate the employment of Employee. 

  
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 9. Assignment. The Company may assign all or any portion of its rights and obligations
under this Agreement. The Performance Award, the Bonus Award, the Performance Restricted Shares and the rights and obligations of Employee under this Agreement may not be sold, assigned, transferred, discounted, exchanged, pledged or otherwise
encumbered or disposed of by Employee other than by will or the laws of descent and distribution. 
 10. Maximum Cash Award. Any
provision of this Agreement to the contrary notwithstanding, the maximum amount that may be paid under all Cash Awards awarded to the Employee under the Plan, including the Bonus Award, during any one calendar year shall not exceed $4,000,000. 

11. Binding Effect. This Agreement shall be binding upon and inure to the benefit of (i) the Company and its successors and
assigns, and (ii) Employee, and Employee’s heirs, devisees, executors, administrators and personal representatives. 
 12.
Notices. All notices required or permitted to be given or made under this Agreement shall be in writing and shall be made in accordance with the provisions of the Plan. Notices under this Agreement shall be delivered or sent (i) to
Employee at Employee’s address as set forth in the records of the Company, or (ii) to the Company at the principal executive offices of the Company clearly marked “Attention: Lee Robison”. 

13. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Texas without regard
to its principles of conflict of laws. 
 14. Further Assurances. Employee agrees to execute such additional instruments and to take
all such further action as may be reasonably requested by the Company to carry out the intent and purposes of this Agreement. 
 15.
Subject to Plan. The Performance Award, the Bonus Award, the Performance Restricted Shares and this Agreement are subject to all of the terms and conditions of the Plan as amended from time to time. In the event of any conflict between the
terms and conditions of the Plan and those set forth in this Agreement, the terms and conditions of the Plan shall control. Capitalized terms not defined in this Agreement shall have the meaning set forth in the Plan. 

16. Compensation Recoupment Policy. Employee hereby acknowledges and agrees that Employee, the Performance Award and the Bonus Award
are subject to the Company’s compensation recoupment policy as contained in the Company’s Code of Conduct (the “Policy”), as amended from time to time, and the terms and conditions of the Policy are hereby incorporated by
reference into this Agreement. 
 17. Funding. The Bonus Award is unfunded. Employee’s right to receive payment under the Bonus
Award shall be no greater than the right of an unsecured creditor of the Company and Employee shall not have any rights in or against specific assets of the Company. 

  
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 18. Adjustments Upon Changes in Common Stock. In the event that before either the Vesting
Date or the Change in Control Vesting Date, the Company shall have effected a common stock split or dividend payable in common stock or the outstanding common stock of the Company shall have been combined into a smaller number of shares, the Bonus
Phantom Units subject to the Bonus Award shall be increased or decreased to reflect proportionately the increase or decrease in the number of shares of common stock outstanding. In the event of a reclassification of stock not covered by the
foregoing, or in the event of a liquidation or reorganization, including a merger, consolidation or sale of assets, it is agreed that the Board of Directors of the Company shall make such adjustments, if any, as it may deem appropriate in the number
of Bonus Phantom Units subject to the Bonus Award. 
 19. Code Section 409A. The Bonus Award is intended to be exempt from
Section 409A of the Code and any ambiguities herein shall be interpreted, to the extent possible, in a manner consistent therewith. 

20. Descriptive Headings and References. The descriptive headings herein are inserted for convenience of reference only, do not
constitute a part of this Agreement, and shall not affect in any manner the meaning or interpretation of this Agreement. The words “this Agreement,” “herein,” “hereof,” “hereby,” “hereunder” and
words of similar import refer to this Agreement as a whole and not to any particular subdivision unless expressly so limited. 
 21.
Electronic Documentation. Any provision of this Agreement to the contrary notwithstanding, provisions in this Agreement setting forth a requirement for delivery of a written notice, agreement, consent, acknowledgement, or other documentation
in writing, including a written signature, may be satisfied by electronic delivery of such notice, agreement, consent, acknowledgement, or other documentation, in a manner that the Committee has prescribed or that is otherwise acceptable to the
Committee, provided that evidence of the intended recipient’s receipt of the electronic delivery is available to the Committee and that such delivery is not prohibited by applicable laws and regulations. 

[SIGNATURE PAGE TO FOLLOW] 

  
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 IN WITNESS WHEREOF, the Company and Employee have executed this Agreement as of the date first
written above. 
  

			
	NOBLE ENERGY, INC.
		
		 	David L. Stover
		 	President and CEO
	
	EMPLOYEE
		
		 	  

		 	Employee Signature
		
		 	  

		 	Employee Printed Name

 ***** 
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clicking the Accept button, I am confirming that I have read and understand, and that I agree to be bound by the terms of this Restricted Stock and Cash Award Agreement and the Noble Energy, Inc. 1992 Stock Option and Restricted Stock Plan as
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