Document:

exv10w2

 

Exhibit 10.2

AMENDMENT NO. 2

TO

BURLINGTON RESOURCES INC.

2001 PERFORMANCE SHARE UNIT PLAN

     The Burlington Resources Inc. 2001 Performance Share Unit Plan is hereby
amended as follows:

     Section 2.1(o) is amended by deleting clause (1) and renumbering clauses
(2), (3) and (4) as (1), (2) and (3), respectively.

     The second sentence of Section 7.3 is amended to read as follows:

“Except as provided in Section 7.4, interest shall accrue on
the deferred payment to the date of distribution, and shall
be credited to the Memorandum Account as of such Valuation
Dates as shall be established by the Plan Administrator (the
deferred payment plus credited interest under the Memorandum
Account being the ‘Interest Account’).”

     The last sentence of Section 7.4 is amended to read as follows:

“In no event may any reinvestment be made of any portion of
a Participant’s Company Stock Account representing Phantom
Stock purchased at a discount to Fair Market Value as
described above prior to the expiration of a period of three
years following the date on which the Phantom Stock
purchased at a discount was credited to the Participant’s
Company Stock Account; provided, however, that this
restriction shall not prevent the liquidation of all or any
portion of the Participant’s Company Stock Account in order
to effect payments to the Participant pursuant to Section
7.5.”

     Section 7.5 is amended to read as follows:

“7.5 Payment of Deferred Compensation. Upon retirement,
death, Permanent Disability, resignation or termination of
employment of a Participant who has elected to defer the
payment in respect of any Units or other specified time that
is elected by the Participant and acceptable to the
Management Committee or the Plan Administrator, as the case
may be, the employer shall pay to such Participant (or to
his or her Beneficiary in case of the Participant’s death)
an amount in cash equal to the balance of his or her
Memorandum Account as follows:

	(a)	 	a lump sum payment; or
	 
	(b)	 	in 5 consecutive substantially equal annual
installments; or
	 
	(c)	 	in 10 consecutive substantially equal annual
installments;

 

 

whichever form of payment has been elected by the
Participant. Payment of a Memorandum Account shall commence
or be made in the month following the month in which the
Participant’s retirement, death, Permanent Disability,
resignation or termination of employment occurs or any other
specified time that is elected by the Participant and
acceptable to the Management Committee or the Plan
Administrator, as the case may be. In the case of
distribution to a Participant in installments, payment will
be made on a pro rata basis from each of the Participant’s
Accounts.”

The date of adoption of this amendment by the Board of Directors of the
Company is July 21, 2004.

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Exhibit 10.3

AMENDMENT NO. 1

TO

BURLINGTON RESOURCES INC.

DEFERRED COMPENSATION PLAN

     The Burlington Resources Inc. Deferred Compensation Plan is hereby amended
as follows:

     The first sentence of Section 4.3 is amended to read as follows:

“Each year the Company shall establish a ledger or
notional account (the ‘Memorandum Account’) for each
Participant who has elected to defer payment of his or
her Base Salary for that year for the purpose of
reflecting the Company’s obligation to pay the deferred
Base Salary for such year as specified pursuant to
Section 4.7; provided, however, that all Memorandum
Accounts established for a Participant that are to be
paid in the same manner, e.g., a lump sum, 5 annual
installments or 10 annual installments, may be combined
into a single Memorandum Account.”

     The second sentence of Section 4.4 is amended to read as follows:

“Such interest shall be credited to the Interest Account
as of such valuation dates as shall be established by the
Management Committee.”

     Section 4.4 is amended by adding the following sentence at the end
thereof:

“The Management Committee shall determine, in its sole
discretion, the valuation dates for valuing each
Participant’s Account(s).”

     Section 4.7 is amended to read as follows:

“4.7 Payment of Accounts. Upon a Participant’s
Termination or on any Special Deferral payment date, the
Company shall pay to such Participant (or to his or her
Beneficiary in case of the Participant’s death) an amount
in cash equal to the balance then credited to his or her
affected Account(s) as follows:

	(a)	 	a lump sum payment; or
	 
	(b)	 	in 5 consecutive substantially equal annual
installments; or
	 
	(c)	 	in 10 consecutive substantially equal annual
installments;

whichever form of payment has been elected by the
Participant. Payment of Accounts shall commence or be
made in the month following the month in which the
Participant’s Termination or Special

 

 

Deferral payment date occurs. In the case of
distribution to a Participant in installments, payment
will be made on a pro rata basis from each of the
Participant’s Accounts.”

     The date of adoption of this amendment by the Board of Directors of the
Company is July 21, 2004.

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Exhibit 10.4

AMENDMENT NO. 2

TO

BURLINGTON RESOURCES INC.

INCENTIVE COMPENSATION PLAN

(As Amended and Restated Effective January 1, 2001)

     The Burlington Resources Inc. Incentive Compensation Plan (as amended and
restated effective as of January 1, 2001) is hereby amended as follows:

     The first sentence of Section 5.4 is amended to read as follows:

“Each calendar year the Company shall establish a ledger or
notional account (the ‘Memorandum Account’) for each
Participant who has elected to defer payment of his or her
Incentive Award for that calendar year pursuant to Section
5.2 for the purpose of reflecting the Company’s obligation
to pay the deferred Incentive Award for such calendar year
as specified pursuant to Section 5.7; provided, however,
that all Memorandum Accounts established for a Participant
that are to be paid in the same manner, e.g., a lump sum, 5
annual installments or 10 annual installments, may be
combined into a single Memorandum Account.”

     The second sentence of Section 5.5 is amended to read as follows:

“Such interest shall be credited to the Interest Account as
of such valuation dates as shall be established by the Plan
Administrator.”

     Section 5.5 is amended by adding the following sentence at the end
thereof:

“The Plan Administrator shall determine, in its sole
discretion, the valuation dates for valuing each
Participant’s Account(s).”

     The last sentence of Section 5.6 is amended to read as follows:

“In no event may any reinvestment be made of any portion of
a Participant’s Company Stock Account representing Phantom
Stock purchased at a discount as described in Section 5.5
prior to the expiration of a period of three years following
the date on which the Phantom Stock purchased at a discount
was credited to the Participant’s Company Stock Account;
provided, however, that this restriction shall not prevent
the liquidation of all or any portion of the Participant’s
Company Stock Account in order to effect payments to the
Participant pursuant to Section 5.7.”

 

 

     Section 5.7 is amended to read as follows:

“5.7 Payment of Accounts. Upon a Participant’s Termination
or on any Special Deferral payment date, the Company shall
pay to such Participant (or to his or her Beneficiary in
case of the Participant’s death) an amount in cash equal to
the balance then credited to his or her affected Account(s)
as follows:

	(a)	 	a lump sum payment; or
	 
	(b)	 	in 5 consecutive substantially equal annual
installments; or
	 
	(c)	 	in 10 consecutive substantially equal annual
installments;

whichever form of payment has been elected by the
Participant. Payment of Accounts shall commence or be made
in the month following the month in which the Participant’s
Termination or Special Deferral payment date occurs. In the
case of distribution to a Participant in installments,
payment will be made on a pro rata basis from each of the
Participant’s Accounts.”

The date of adoption of this amendment by the Board of Directors of the
Company is July 21, 2004.

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Exhibit 10.5

AMENDMENT FOUR

TO THE

BURLINGTON RESOURCES INC.

SUPPLEMENTAL BENEFIT PLAN

          WHEREAS, Section 5.6 of the Burlington Resources Inc. Supplemental
Benefits Plan (the “Plan”) provides that it may be amended by the Plan’s
Management Committee, subject to certain limitations provided therein;

          NOW, THEREFORE, Section 4 of the Plan is hereby amended effective as of
January 1, 1997, by adding thereto a new Section 4.10 to read as follows:

          “4.10 Transfer of Benefits from Management Supplemental
Benefits Plan. If a Participant in the Burlington Resources Inc.
Management Supplemental Benefits Plan (the “Management Plan”)
becomes a Participant in this Plan, his or her benefits under the
Management Plan shall be automatically transferred to this Plan
effective with the commencement date of his or her participation
in this Plan and thereafter such benefits shall be payable solely
pursuant to the terms and provisions of the Plan.

          Each Participant who has a Memorandum Account
under the Management Plan that is being transferred to
this Plan shall be given, prior to the transfer, an
election to request that all or a specified percentage
of such Memorandum Account be invested on one or more
of the investment options available under the Plan;
however, the Management Committee shall not be
obligated to honor any such request. If an election
is not received prior to the transfer, or the
Management Committee elects not to honor such
election, the Memorandum Account shall be invested in
the Interest Account hereunder.

          In addition, each Participant whose Memorandum
Account under the Management Plan is being transferred
to this Plan shall be given, prior to the transfer, an
irrevocable election, in accordance with the
distribution options specified in Section 4.8, as to
the manner in which such transferred Memorandum
Account is to be paid following his or her Termination
or Permanent Disability; provided, however, no such
payment election shall be effective with respect to
any Termination or Permanent Disability occurring
prior to the next following January 1, unless such
Termination is due to the Participant’s death,
Permanent Disability occurring after the date of
transfer, or involuntary termination by the Company or
a subsidiary (whether or not a termination is
involuntary shall be determined by the Management
Committee).

          Any Beneficiary designation filed by a
Participant under the Management Plan shall be deemed
applicable to this Plan unless such designation is
changed in accordance with the terms of this Plan.”

Except as amended hereby, the Plan shall continue without interruption or change.

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