SEC Contract Filing

Filing Date: 2017-05-03

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>dvn-ex102_524.htm
<DESCRIPTION>EX-10.2
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;font-family:Trebuchet MS;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.2</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Georgia;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><img src="g201705031343235313960.jpg" title="" alt="" style="width:126px;height:72px;"><font style="font-size:11pt;font-family:Trebuchet MS;margin-left:36pt;"></font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:bold;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#B2310E;font-size:12pt;font-family:Trebuchet MS;text-transform:uppercase;font-weight:bold;font-style:normal;font-variant: normal;">Notice of Grant of PERFORMANCE SHARE UNIT Award</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#B2310E;font-size:12pt;font-family:Trebuchet MS;text-transform:uppercase;font-weight:bold;font-style:normal;font-variant: normal;"> and Award Agreement</p>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#1F497D;font-size:11pt;font-family:Trebuchet MS;font-style:normal;text-transform:none;font-variant: normal;">Participant&#8217;s Name</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Trebuchet MS;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Grant Date:</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#1F497D;font-size:11pt;font-family:Trebuchet MS;font-style:normal;text-transform:none;font-variant: normal;">Grant Date</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Trebuchet MS;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Grant Type:</p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:11pt;font-family:Trebuchet MS;font-style:normal;text-transform:none;font-variant: normal;">PSU</p></td>
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<p style="text-align:justify;border-bottom:Solid 2.25pt;padding-bottom:1pt;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;font-family:Trebuchet MS;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Effective <font style="font-weight:bold;color:#1F497D;">Grant Date</font>, you have been granted a target award of <font style="font-weight:bold;color:#1F497D;">Number of Shares Granted</font> Performance Share Units (&#8220;Award&#8221;) under the Devon Energy Corporation 2015 Long-Term Incentive Plan.&nbsp;&nbsp;Each Performance Share Unit that vests entitles you to one share of Devon Energy Corporation (the &#8220;Company&#8221;) Common Stock.&nbsp;&nbsp;The vesting of these Performance Share Units is determined pursuant to the following two-step process: (i) first, the maximum number of Performance Share Units in which you can vest shall be calculated based upon the Company&#8217;s TSR (as defined in Schedule A of the Award Agreement) over the Performance Period (as defined in the Award Agreement), (ii) then, if the value (based on the fair market value of a share of Common Stock on the last day of the Performance Period) of the aggregate number of Performance Share Units calculated under clause (i) exceeds the Payout Value Limit described on Schedule A, the number of Performance Share Units calculated under clause (i) shall be reduced so that the value (based on the fair market value of a share of Common Stock on the last day of the Performance Period) of the total number of vested Performance Share Units is equal to the Payout Value Limit.&nbsp;&nbsp;The maximum number of Performance Share Units that you can earn b