LONE STAR TECHNOLOGIES, INC. PHANTOM STOCK DEFERRED COMPENSATION PLANLone Star Technologies Inc • January 3rd, 2006 • Steel pipe & tubes
Purpose: The purpose of the Plan is to set forth the terms and conditions of the phantom stock deferred compensation arrangement that Lone Star Technologies, Inc. (the “Company”) makes available to its non-employee directors. The Plan and the form of deferred compensation agreement (the “Agreement”) fix in advance the specific terms of the grant and cash settlement of phantom stock rights in satisfaction of the requirements of Rule 16b-3 of the Securities and Exchange Commission. That rule exempts all transactions contemplated by the Plan from the short-swing profits liability provisions of Section 16(b) of the Securities Exchange Act of 1934.
