SEC Contract Filing

Filing Date: 2016-08-04

Document Content:
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<TYPE>EX-10.5
<SEQUENCE>5
<FILENAME>apaq22016ex105.htm
<DESCRIPTION>EXHIBIT 10.5
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<div><a name="sa7ab81e229ab4fbc9bfc7917d8e4ffe3"></a></div><div></div><div><br></div><div style="line-height:120%;padding-top:13px;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Exhibit 10.5</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Apache Corporation</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Outside Directors&#8217; Deferral Program</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:8px;padding-top:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Apache hereby establishes this Program, effective as of July 16, 2014, under the provisions of the Apache Corporation 2011 Omnibus Equity Compensation Plan, and effective as of May 12, 2016, under the provisions of the Apache Corporation 2016 Omnibus Compensation Plan.</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Apache intends for this Program to provide its Outside Directors with the opportunity to defer income in conjunction with the Non-Employee Directors&#8217; Restricted Stock Units Program established under the provisions of the Apache Corporation 2011 Omnibus Equity Compensation Plan and the Apache Corporation 2016 Omnibus Compensation Plan.</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:13px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Apache intends that the Program not be treated as a &#8220;funded&#8221; plan for purposes of the Code. Apache also intends for this Program to comply with the requirements of Code &#167;409A. The Program shall be interpreted in light of Apache&#8217;s intentions.</font></div><div style="line-height:120%;padding-left:0px;padding-top:13px;text-align:center;text-indent:0px;"><font style="padding-top:13px;text-align:center;font-family:inherit;font-size:10pt;font-weight:bold;padding-right:96px;">ARTICLE I</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">DEFINITIONS</font></div><table cellpadding="0" cellspacing="0" style="padding-top:13px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:34px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:-2px;"><font style="font-family:inherit;font-size:10pt;">1.01</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Definitions</font></div></td></tr></table><div style="line-height:120%;padding-bottom:8px;padding-top:13px;text-align:justify;padding-left:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Defined terms used in this Program shall have the meanings set forth below:</font></div><table cellpadding="0" cellspacing="0" style="padding-top:13px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:36px;"><font style="font-family:inherit;font-size:10pt;">(a)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8220;Account&#8221; means the memorandum account maintained for each Participant that is credited with all Deferrals.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:13px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:36px;"><font style="font-family:inherit;font-size:10pt;">(b)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8220;Apache&#8221; means Apache Corporation or any successor thereto.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:13px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:36px;"><font style="font-family:inherit;font-size:10pt;">(c)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8220;Beneficiary&#8221; means a Participant&#8217;s beneficiary, as determined in section 5.03.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:13px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:36px;"><font style="font-family:inherit;font-size:10pt;">(d)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8220;Change of Control&#8221; means a change of control as defined in the Income Continuance Plan that is also described in Code &#