SEC Contract Filing

Filing Date: 2016-05-24

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>5
<FILENAME>ex103performanceunits.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<div><a name="sd29547e547d647eaaf6219b2a4af3abe"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">EXHIBIT 10.3</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">PERFORMANCE UNIT AWARD AGREEMENT</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">PIONEER NATURAL RESOURCES COMPANY</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">2006 LONG TERM INCENTIVE PLAN</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">[Date]</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">To: Scott D. Sheffield</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Pioneer Natural Resources Company, a Delaware corporation (the "</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;text-decoration:underline;">Company</font><font style="font-family:inherit;font-size:11pt;">"), is pleased to grant you an award (this "</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;text-decoration:underline;">Award</font><font style="font-family:inherit;font-size:11pt;">") to receive an aggregate of ____________ performance units (each, a &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;text-decoration:underline;">Performance</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">&#32;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;text-decoration:underline;">Unit</font><font style="font-family:inherit;font-size:11pt;">&#8221;) in respect of the period January 1, ____ through December 31, _____ (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;text-decoration:underline;">Performance</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">&#32;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;text-decoration:underline;">Period</font><font style="font-family:inherit;font-size:11pt;">&#8221;). This Award is subject to your acceptance of and agreement to all the applicable terms, conditions and restrictions described in this Performance Unit Award Agreement (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;text-decoration:underline;">Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221;) and the Pioneer Natural Resources Company 2006 Long Term Incentive Plan (as it may be amended from time to time, the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;text-decoration:underline;">Plan</font><font style="font-family:inherit;font-size:11pt;">&#8221;). A copy of the Plan is available upon request. Except as provided below, to the extent that any provision of this Agreement conflicts with the expressly applicable terms of the Plan, you acknowledge and agree that those terms of the Plan shall control and, if necessary, the applicable provisions of this Agreement shall be deemed amended so as to carry out the purpose and intent of the Plan. Terms that have their initial letters capitalized, but that are not otherwise defined in this Agreement, shall have the meanings given to them in the Plan in effect as of the date of this Agreement. The Performance Units contemplated herein are described in the Plan as Restricted Stock Units subject to restrictions that lapse based on the achievement of performance goals pursuant to Section 6(a)(i) of the Plan.</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">This Agreement sets forth the terms of the agreement between you and the Company with respect to the Performance Units. By a