Common use of Shadow Stock Clause in Contracts

Shadow Stock. Subject to the following terms and conditions, the Executive shall be granted units of shadow stock ("Units") pursuant to the Xxxxxx Energy Company 1982 Shadow Stock Plan (the "Shadow Plan"), and such Units shall vest, at the time and in the amounts set forth in the following table: Date of Grant Vesting Date Number of Units November 1, 2001 October 31, 2002 300,000 Units November 1, 2002 October 31, 2003 300,000 Units November 1, 2003 October 31, 2004 300,000 Units November 1, 2004 April 30, 2005 150,000 Units Notwithstanding the foregoing, these grants will become effective only if the Committee affirmatively authorizes such grant at a meeting prior to November 1 of each year and the Committee may in its sole discretion, at any time prior to the granting of Units pursuant to this Section 4(D) alter the number of such Units to be granted and/or condition the vesting of such Units on the performance of such criteria as the Committee shall elect. In the event the Executive remains continuously employed by Parent or Xxxxxx until the applicable vesting date, then all restrictions on the Units shall expire and the Units shall vest. On each date that Units vest in accordance with the foregoing table, the then value of the Units will thereupon be credited to the Executive's account in the Xxxxxx Executive Deferred Compensation Program. In the event the Executive's employment with Parent and Xxxxxx terminates prior to the expiration of the Primary Term and following a "Change of Control" (as such term is hereinafter defined) or if the Executive's employment is terminated by Parent or Xxxxxx for reasons which do not constitute "Cause" as defined herein, then any Units which have not vested in accordance with the foregoing table shall be vested as of such termination date and all restrictions on the Units will expire and the then value of the Units will thereupon be credited to the Executive's account in the Xxxxxx Executive Deferred Compensation Program. Subject to the provisions of Section 7 below, in the event the Executive's employment with Parent and Xxxxxx terminates prior to the expiration of the Primary Term for any reason other than those set forth in the preceding sentence, then all of the Executive's rights in the Units which have not previously vested in accordance with the foregoing table shall terminate as of the date of termination, and all rights thereunder shall cease. The Units will be evidenced by a Shadow Stock Agreement between Parent and the Executive.

Shadow Stock. Subject to As of the following terms and conditions, Effective Date the Executive shall be granted ------------ 1,050,000 units of shadow stock ("Units") pursuant to the Xxxxxx Energy Company 1982 Shadow Stock Plan (the "Shadow Plan"), and such Units shall vest, at the time and in the amounts set forth in subject to the following table: Date of Grant Vesting Date Number of Units November 1terms and conditions, 2001 October 31, 2002 300,000 Units November 1, 2002 October 31, 2003 300,000 Units November 1, 2003 October 31, 2004 300,000 Units November 1, 2004 April 30, 2005 150,000 Units Notwithstanding the foregoing, these grants will become effective only if the Committee affirmatively authorizes such grant at a meeting prior to November 1 of each year and the Committee may in its sole discretion, at any time prior to terms and conditions of the granting of Units pursuant to this Section 4(D) alter the number of such Units to be granted and/or condition the vesting of such Units on the performance of such criteria as the Committee shall electShadow Stock Plan. In the event the Executive remains continuously employed by Parent or Xxxxxx from the Effective Date until the applicable vesting date, then all restrictions on the Units shall will expire and the Unit shall vest at the times and in the amounts set forth in the following table: Vesting Date Number of Units shall vest. October 31, 2002 300,000 Units October 31, 2003 300,000 Units October 31, 2004 300,000 Units April 30, 2005 150,000 Units On each date that Units vest in accordance with the foregoing table, the then value of the Units will thereupon be credited to the Executive's account in the Xxxxxx Executive Deferred Compensation Program. In the event the Executive's employment with Parent and Xxxxxx terminates prior to the expiration of the Primary Term and following a "Change of Control" (as such term is hereinafter defined) or if the Executive's employment is terminated by Parent or Xxxxxx for reasons which do not constitute "Cause" as defined herein, then any Units which have not vested in accordance with the foregoing table shall be vested as of such termination date and all restrictions on the Units will expire and the then value of the Units will thereupon be credited to the Executive's account in the Xxxxxx Executive Deferred Compensation Program. Subject to the provisions of Section 7 below, in In the event the Executive's employment with Parent and Xxxxxx terminates prior to the expiration of the Primary Term for any reason other than those set forth in the preceding sentence, then all of the Executive's rights in the Units which have not previously vested in accordance with the foregoing table shall terminate as of the date of termination, and all rights thereunder shall cease. The Units will be evidenced by a Shadow Stock Agreement between Parent and the Executive.

Shadow Stock. Subject to As of the following terms and conditions, Effective Date the Executive shall be ------------- granted 1,050,000 units of shadow stock ("Units") pursuant to the Xxxxxx Energy Company 1982 Shadow Stock Plan (the "Shadow Plan"), and such Units shall vest, at the time and in the amounts set forth in subject to the following table: Date of Grant Vesting Date Number of Units November 1terms and conditions, 2001 October 31, 2002 300,000 Units November 1, 2002 October 31, 2003 300,000 Units November 1, 2003 October 31, 2004 300,000 Units November 1, 2004 April 30, 2005 150,000 Units Notwithstanding the foregoing, these grants will become effective only if the Committee affirmatively authorizes such grant at a meeting prior to November 1 of each year and the Committee may in its sole discretion, at any time prior to terms and conditions of the granting of Units pursuant to this Section 4(D) alter the number of such Units to be granted and/or condition the vesting of such Units on the performance of such criteria as the Committee shall electShadow Stock Plan. In the event the Executive remains continuously employed by Parent or Xxxxxx from the Effective Date until the applicable vesting date, then all restrictions on the Units shall will expire and the Unit shall vest at the times and in the amounts set forth in the following table: Vesting Date Number of Units shall vest. ------------ --------------- October 31, 2002 300,000 Units October 31, 2003 300,000 Units October 31, 2004 300,000 Units April 30, 2005 150,000 Units On each date that Units vest in accordance with the foregoing table, the then value of the Units will thereupon be credited to the Executive's account in the Xxxxxx Executive Deferred Compensation Program. In the event the Executive's employment with Parent and Xxxxxx terminates prior to the expiration of the Primary Term and following a "Change of Control" (as such term is hereinafter defined) or if the Executive's employment is terminated by Parent or Xxxxxx for reasons which do not constitute "Cause" as defined herein, then any Units which have not vested in accordance with the foregoing table shall be vested as of such termination date and all restrictions on the Units will expire and the then value of the Units will thereupon be credited to the Executive's account in the Xxxxxx Executive Deferred Compensation Program. Subject to the provisions of Section 7 below, in In the event the Executive's employment with Parent and Xxxxxx terminates prior to the expiration of the Primary Term for any reason other than those set forth in the preceding sentence, then all of the Executive's rights in the Units which have not previously vested in accordance with the foregoing table shall terminate as of the date of termination, and all rights thereunder shall cease. The Units will be evidenced by a Shadow Stock Agreement between Parent and the Executive.

Shadow Stock. Subject to the following terms and conditions, the Executive shall be granted units of shadow stock ("Units") pursuant to the Xxxxxx Energy Company 1982 Fluor Shadow Stock Plan (the "Shadow Plan"), and such Units shall vest, ) at the time times and in the amounts set forth in the following table: Date of Grant Vesting Date Number Amount of Grant ------------- --------------- October 1, 1998 60,000 Units November October 1, 1999 60,000 Units October 1, 2000 60,000 Units October 1, 2001 October 31, 2002 300,000 60,000 Units November 1, 2002 October 31, 2003 300,000 Units November 1, 2003 October 31, 2004 300,000 Units November 1, 2004 April 30, 2005 150,000 Units Notwithstanding the foregoing, these grants will become effective only if the Committee affirmatively authorizes such grant at a meeting prior to November 1 of each year and the Committee may in its sole discretion, at any time prior to the granting of Units pursuant to this Section 4(D) alter the number of such Units to be granted and/or condition the vesting of such Units on the performance of such criteria as the Committee shall elect. In the event the Executive remains continuously employed by Parent or Xxxxxx until Massxx xxxough the applicable vesting dateexpiration of the Primary Term, then all restrictions on the Units shall will expire and the Units shall vest. On each date that Units vest in accordance with the foregoing table, the then value of the Units will thereupon be credited to the Executive's account in the Xxxxxx Fluor Executive Deferred Compensation Program. In the event the Executive's employment with Parent and Xxxxxx terminates Massxx xxxminates prior to the expiration of the Primary Term and following a "Change of Control" (as such term is terms are hereinafter defined) or if the Executive's employment is terminated by Parent or Xxxxxx for Massxx xxx reasons which do not constitute "Cause" as defined herein, herein then the date of any Units grants referred to the foregoing table which have not vested in accordance with been made as of the foregoing table Executive's termination date shall be vested as of accelerated to such termination date and all restrictions on the Units will expire and the then value of the Units will thereupon be credited to the Executive's account in the Xxxxxx Fluor Executive Deferred Compensation Program. Subject In the event that the Executive's employment with Massxx xxxminates prior to the provisions expiration of Section 7 belowthe Primary Term due to death or permanent and total disability as defined by Massxx xxxsonnel policy, then the restrictions shall lapse as to the Units which had been granted prior to the Executive's termination date and the then value of such Units will thereupon be credited to the Executive's account in the Fluor Executive Deferred Compensation Program and Executive's right to a grant of the remaining Units shall thereupon terminate. In the event the Executive's employment with Parent and Xxxxxx terminates Massxx xxxminates prior to the expiration of the Primary Term for any reason other than those set forth in the three preceding sentencesentences, then all of the Executive's rights in the Units which have not previously vested been granted and in accordance with the foregoing table those which have yet to be granted shall terminate as of the date of termination, and all rights thereunder shall cease. The Units will be evidenced by a Shadow Stock Agreement between Parent Fluor and the Executive.