Exhibit 10.12
SUPPLEMENT TO
EXECUTIVE EMPLOYMENT AGREEMENT
This Supplement dated as of December 2, 1999 ("Supplement") amends and
supplements that certain Executive Employment Agreement, as amended
("Agreement") entered into by and between Halliburton Company ("Employer") and
Xxxxxxx X. Xxxxxxxx ("Employee") effective as of September 29, 1998. Capitalized
terms used herein but not defined shall have the meanings ascribed to them in
the Agreement.
1. Section 1.1 of the Agreement is amended to read in its entirety as
follows:
"1.1 The term of the Agreement is from the Effective Date
through February 29, 2000 (the "Term"), on which date Employee
shall retire as an employee of Employer."
2. Section 1.2 of the Agreement is hereby amended and supplemented by
adding the following language to the end thereof:
"On January 31, 2000, Employee shall voluntarily resign as
Chairman of the Board of Employer, as a member of Employer's
Board of Directors and from all other positions, posts,
offices and assignments with Employer or any of Employer's
affiliates, including, but not limited to, Employee's service
as a member of the Executive Committee of Employer and as a
Trustee of the Halliburton Foundation, Inc."
3. Section 2.2 of the Agreement is hereby amended by deleting the
last sentence and inserting the following language in lieu thereof:
"For plan year 2000, the bonus payable to Employee shall be
equal to the Average Dresser Bonus prorated through January
31, 2000. Such bonus amount shall be paid to Employee prior to
December 31, 2000."
4. The Agreement is hereby supplemented by the following additional
terms and provisions:
Beginning March 1, 2000 and continuing through February 28,
2005, and expressly contingent upon Employee's not being in
breach of his obligations under Articles 4 and 5 of the
Agreement, Employee shall be entitled to:
(i) Office space and part-time secretarial
support as mutually agreed by Employer and
Employee.
(ii) Office furnishings and equipment (including
computer equipment for access to the
Company's network).
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Exhibit 10.12
SUPPLEMENT TO
EXECUTIVE EMPLOYMENT AGREEMENT
(continued)
5. Except as amended or supplemented hereby, the Agreement shall
continue in full force and effect.
IN WITNESS WHEREOF, Employee and Employer have duly executed this
Supplement in multiple originals as of the date first above written.
HALLIBURTON COMPANY
By: /s/ Xxxxxxx X. Xxxxxx
------------------------------
Xxxxxxx X. Xxxxxx
Chief Executive Officer
EMPLOYEE
/s/ Xxxxxxx X. Xxxxxxxx
--------------------------------
Xxxxxxx X. Xxxxxxxx
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