{"id":38534,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/annual-reward-plan-halliburton-co.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"annual-reward-plan-halliburton-co","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/annual-reward-plan-halliburton-co.html","title":{"rendered":"Annual Reward Plan &#8211; Halliburton Co."},"content":{"rendered":"<pre>\n                     HALLIBURTON COMPANY ANNUAL REWARD PLAN\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n                                      INDEX\n\n                                                                          \n ARTICLE I...................................................................  1\n PURPOSE.....................................................................  1\n\n ARTICLE II..................................................................  1\n DEFINITIONS.................................................................  1\n\n      2.1      Definitions...................................................  1\n      2.2      Number........................................................  4\n      2.3      Headings......................................................  4\n\n ARTICLE III.................................................................  4\n PARTICIPATION...............................................................  4\n\n      3.1      Participants..................................................  4\n      3.2      Partial Plan Year Participation...............................  4\n      3.3      No Right to Participate.......................................  5\n      3.4      Plan Exclusive................................................  5\n\n ARTICLE IV..................................................................  5\n ADMINISTRATION..............................................................  5\n\n ARTICLE V...................................................................  6\n REWARD DETERMINATIONS.......................................................  6\n\n      5.1    Performance Measure.............................................  6\n      5.2    Reward Determinations...........................................  6\n      5.3    Reward Opportunities............................................  7\n      5.4    Discretionary Adjustments ......................................  7\n      5.5    Discretionary Bonuses...........................................  7\n\n ARTICLE VI..................................................................  7\n DISTRIBUTION OF REWARDS.....................................................  7\n\n      6.1    Form and Timing of Payment......................................  7\n      6.2    Mandatory Deferral..............................................  8\n      6.3    Elective Deferral...............................................  8\n      6.4    Tax Withholding.................................................  8\n      6.5    No Interest or Dividend Equivalents.............................  9\n      6.6    Small Accounts..................................................  9\n\n\n\n\n\n\n\n\n ARTICLE VII.................................................................  9\n TERMINATION OF EMPLOYMENT...................................................  9\n\n      7.1    Termination of Service During Plan Year.........................  9\n      7.2    Termination of Service After End of Plan Year But Prior to Full\n             Payment......................................................... 10\n\n ARTICLE VIII................................................................ 10\n RIGHTS OF PARTICIPANTS AND BENEFICIARIES.................................... 10\n\n      8.1    Status as a Participant or Beneficiary.......................... 10\n      8.2    Employment...................................................... 10\n      8.3    Nontransferability.............................................. 10\n      8.4    Nature of Plan.................................................. 11\n\n ARTICLE IX.................................................................. 12\n CORPORATE CHANGE............................................................ 12\n\n ARTICLE X................................................................... 12\n AMENDMENT AND TERMINATION................................................... 12\n\n ARTICLE XI.................................................................. 12\n MISCELLANEOUS............................................................... 12\n\n      11.1   Governing Law................................................... 12\n      11.2   Severability.................................................... 13\n      11.3   Successor....................................................... 13\n      11.4   Effective Date.................................................. 13\n\n\n\n\n\n\n\n                                    ARTICLE I\n\n                                     PURPOSE\n\n         The purpose of the Halliburton  Company Annual Reward Plan (the 'Plan')\nis to reward senior  management for improving  financial results which drive the\ncreation of shareholder value, and thereby, serve to attract,  motivate,  reward\nand retain senior management talent. The Plan provides a means to link total and\nindividual cash compensation to Company  performance,  as measured by Cash Value\nAdded  ('CVA'),  on the  basis of  Participant  sharing  in CVA  improvement,  a\ndemonstrated  driver of  shareholder  value.  In  addition,  to  further  relate\ncompensation  earned under the Plan to shareholder value creation and to provide\nincentives for  Participants  to focus on a time frame longer than one year, the\nPlan  provides that  one-half of incentive  compensation  earned for a Plan Year\nwill be paid in cash  following  the  end of the  Plan  Year  and the  remaining\none-half  will be  denominated  in  Common  Stock  Equivalents  and paid in cash\ninstallments  in the  second  and third  years  after the Plan Year based on the\nvalue of such Common Stock Equivalents at the time of payment.\n\n                                   ARTICLE II\n                                   DEFINITIONS\n         2.1  Definitions.  Where the following  words and phrases appear in the\nPlan,  they shall have the  respective  meanings set forth  below,  unless their\ncontext clearly indicates to the contrary.\n          'Affiliate' shall mean any Subsidiary, division or designated group of\nthe Company.\n\n          'Beneficiary' shall mean the person, persons, trust or trusts entitled\nby  Will or the  laws of  descent  and  distribution  to  receive  the  benefits\nspecified under the Plan in the event of the  Participant's  death prior to full\npayment of a Reward.\n\n                                        1\n\n\n\n\n\n\n          'Board of Directors' shall mean the Board of Directors of the Company.\n\n          'Bonus  Shares' shall mean a specified  number of units  assigned to a\n     Participant  for a  particular  Plan Year which are used to  calculate  the\n     Reward for such Plan Year.  The value of each Bonus Share is  determined by\n     dividing  the total number of Bonus  Shares for all  Participants  into the\n     Bonus Pool as of the end of a particular Plan Year; provided, however, that\n     the Committee may, in its discretion, in lieu of the foregoing,  establish,\n     as of the  beginning of a Plan Year, a formula  pursuant to which the value\n     of a Bonus  Share can be  determined  at given  levels of CVA  performance,\n     regardless  of changes  during  such Plan Year in the  aggregate  number of\n     Bonus Shares.\n\n          'Bonus  Pool' shall mean the amount  available  for payment of Rewards\n     based upon CVA performance for a particular Plan Year as established by the\n     Committee.\n\n          'Cause' shall mean (i) the  conviction of the  Participant of a felony\n     under  Federal law or the law of the state in which such  action  occurred,\n     (ii) dishonesty in course of fulfilling the Participant's employment duties\n     or (iii) the disclosure by the  Participant to any  unauthorized  person or\n     competitor of any confidential  information or confidential knowledge as to\n     the business or affairs of the Company.\n\n          'CEO' shall mean the Chief Executive Officer of the Company.\n\n          'Committee' shall mean the Compensation  Committee of Directors of the\n     Company,  appointed  by the Board of Directors  from among its members,  no\n     member of which shall be an employee of the Company or a Subsidiary.\n\n          'Common Stock' shall mean the common stock, par value $2.50 per share,\n     of the Company.\n\n          'Common Stock Equivalent' shall mean a unit entitling a Participant to\n     receive at a designated time or times in the future a cash payment equal to\n     the Fair Market Value at such time or times of one share of Common Stock.\n\n          'Company' shall mean Halliburton Company and its successors.\n\n          'Corporate  Change'  shall have the  meaning  ascribed  in Article II,\n     Paragraph (h) of the Company's 1993 Stock and Long-Term  Incentive Plan, as\n     amended.\n\n          'CVA'  shall mean the  difference  between  operating  cash flow and a\n     capital charge,  calculated on a consolidated  basis in accordance with the\n     criteria and  guidelines set forth in the Corporate  Policy  entitled 'Cash\n     Value Added (CVA),' as in effect at the time any such calculation is made.\n\n\n                                        2\n\n\n\n\n\n          'Deferred  Payment Date' shall mean, with respect to a particular Plan\n     Year,  the last  business  day of  February  of the second and third  years\n     following the end of such Plan Year.\n\n          'Executive  Committee'  shall  mean  the  Executive  Committee  of the\n     Company.\n\n          'Fair Market Value' shall mean the average  closing price per share of\n     the Common Stock on the New York Stock Exchange (or, if the Common Stock is\n     not then listed on such exchange,  such other national  securities exchange\n     on which the Common  Stock is then  listed) for the ten (10)  trading  days\n     immediately preceding a Payment Date, a Deferred Payment Date or such other\n     date on which the Common Stock Equivalents are to be valued pursuant to the\n     Plan  provisions.  If the Common Stock is not publicly traded on a national\n     securities exchange at the time a determination of its value is required to\n     be made hereunder, the determination of its Fair Market Value shall be made\n     by the Committee in such manner as it deems appropriate.\n\n          'Key Employees' shall mean regular,  full-time management employees of\n     the Company below the Company officer level.\n\n          'Participant  Category'  shall mean a  grouping  of  Participants,  as\n     determined by the Committee, based on level of responsibility.\n\n          'Participants'  shall mean any employee of the Company or a Subsidiary\n     who  participates  in the Plan  pursuant to the  provisions  of Article III\n     hereof.\n\n          'Payment Date' shall mean, with respect to a particular Plan Year, the\n     last  business day of February of the year next  following  the end of such\n     Plan Year.\n\n          'Plan' shall mean the Halliburton Company Annual Reward Plan.\n\n          'Plan Year' shall mean the calendar year ending  December 31, 1995 and\n     each subsequent calendar year thereafter.\n\n          'Reward'  shall  mean the  dollar  amount  of  incentive  compensation\n     payable  to a  Participant  under  the Plan for a Plan Year  determined  in\n     accordance with Section 5.2.\n\n          'Reward Opportunity' shall mean, with respect to each Participant, the\n     aggregate  value of such  Participant's  Bonus Shares which  corresponds to\n     levels of  pre-established  CVA  performance,  determined  pursuant  to the\n     Reward Schedule.\n\n          'Reward  Schedule' shall mean the schedule  setting forth the basis on\n     which  each  of the  Participants  will  share  in  the  Bonus  Pool  for a\n     particular Plan Year.\n\n          'Section 16  Officer'  shall mean an officer who is subject to Section\n     16 of the\n\n                                        3\n\n\n\n\n\n     Securities  Exchange  Act of 1934,  as amended,  and the rules  promulgated\n     thereunder.\n\n          'Subsidiary'  shall mean any  corporation  50 percent or more of whose\n     voting power is owned, directly or indirectly, by the Company.\n\n     2.2 Number.  Wherever  appropriate herein, words used in the singular shall\nbe  considered  to include  the  plural  and words  used in the plural  shall be\nconsidered to include the singular.\n\n     2.3  Headings.  The headings of Articles  and Sections  herein are included\nsolely for  convenience,  and if there is any conflict  between headings and the\ntext of the Plan, the text shall control.\n\n                                   ARTICLE III\n                                  PARTICIPATION\n     3.1 Participants.  Employees who are members of the Executive Committee and\nCompany officers as of the beginning of each Plan Year shall be Participants for\nsuch Plan Year.  In  addition,  such other Key  Employees  as may be  designated\nannually as  Participants by the CEO prior to the last day of February each Plan\nYear shall be Participants under the Plan for such Plan Year.\n\n     3.2 Partial  Plan Year  Participation.  If,  after the  beginning of a Plan\nYear,  an employee who was not  previously a Participant  is newly  appointed or\nelected  as a member  of the  Executive  Committee  or a Company  officer,  such\nemployee shall become a Participant  effective with such appointment or election\nfor the  balance of the Plan Year,  on a prorated  basis,  unless the  Committee\nshall determine, in its sole discretion, that the participation shall be delayed\nuntil the  beginning of the next Plan Year.  If, after the beginning of the Plan\nYear, a person is newly hired,  promoted or transferred into a position in which\nhe or she is a Key\n\n                                        4\n\n\n\n\n\nEmployee,  the CEO may designate in writing such person as a Participant for the\nbalance of such Plan Year, on a prorated basis.\n     Contemporaneously with the promotion, demotion, reassignment or transfer of\na Participant which involves a change in Participant  Category,  the CEO (except\nwith respect to any action or status change  involving  himself or other Section\n16 Officers,  in which case such  determination  shall be made by the Committee)\nshall, in his sole and absolute discretion,  make appropriate  adjustment in the\nnumber of Bonus Shares assigned to such Participant, on a prorated basis for the\nbalance  of the Plan Year,  effective  as of such  change in  status;  provided,\nhowever, that if such change in status involves a transfer to an Affiliate whose\nemployees do not participate in the Plan, such  Participant's  participation  in\nthe Plan will be  terminated  effective  with such transfer for the remainder of\nthe Plan Year without otherwise  affecting such person's  employment status, and\nsuch  Participant  shall be entitled  to receive a prorated  Reward for the Plan\nYear based on the time he or she was a Participant.\n\n     3.3 No Right to Participate. Except as provided in Sections 3.1 and 3.2, no\nParticipant or other employee of the Company shall, at any time, have a right to\nparticipate  in the Plan for any Plan Year,  notwithstanding  having  previously\nparticipated in the Plan.\n\n     3.4 Plan Exclusive.  No employee shall  simultaneously  participate in this\nPlan and in any short-term incentive plan of an Affiliate.\n\n                                   ARTICLE IV\n                                 ADMINISTRATION\n     Each Plan Year, the Committee  shall establish the basis for payments under\nthe Plan in relation to given CVA performance levels, as more fully described in\nArticle V hereof, and,\n\n                                        5\n\n\n\n\n\nfollowing the end of each Plan Year, determine the actual Reward payable to each\nParticipant.  The Committee is authorized to construe and interpret the Plan, to\nprescribe,  amend and rescind rules,  regulations and procedures relating to its\nadministration and to make all other  determinations  necessary or advisable for\nadministration  of the Plan.  The CEO shall have such  authority as is expressly\nprovided in the Plan.  In  addition,  as permitted  by law,  the  Committee  may\ndelegate  such of its  authority  granted under the Plan (except with respect to\nmatters  relating  to the  CEO  and  other  Section  16  Officers)  as it  deems\nappropriate  to the CEO or a  committee,  which  committee  need not be composed\nentirely  of  members  of the  Board of  Directors.  The  determinations  of the\nCommittee,  the CEO or any  committee  to which  authority  has  been  delegated\npursuant hereto shall be conclusive and binding. Subject only to compliance with\nthe express provisions hereof, the Committee, the CEO and any other committee to\nwhich  responsibility  has been  delegated  may act in their  sole and  absolute\ndiscretion with respect to the Plan.\n\n                                    ARTICLE V\n                              REWARD DETERMINATIONS\n     5.1  Performance  Measure.  CVA shall be the sole  performance  measure  in\ndetermining performance goals for any Plan Year.\n\n     5.2 Reward  Determinations.  Prior to the last day of February of each Plan\nYear,  the Committee  shall  establish a formula  relating the size of the Bonus\nPool to CVA  performance  beyond a threshold  level and a Reward  Schedule which\naligns the level of CVA  performance  with Reward  Opportunities,  such that the\nlevel  of  achievement  of CVA  performance  at the end of the  Plan  Year  will\ndetermine the actual Reward. After the end of\n\n                                        6\n\n\n\n\n\neach  Plan  Year,  the  Committee  shall  determine  the  extent  to  which  CVA\nperformance has been achieved and the amount of the Reward shall be computed for\neach Participant in accordance with the Reward Schedule.\n\n     5.3 Reward Opportunities.  The established Reward Opportunities may vary in\nrelation to the Participant Categories and within the Participant Categories. In\nthe event a Participant changes  Participant  Categories during a Plan Year, the\nParticipant's  Bonus  Shares  shall be adjusted to reflect the amount of time in\neach Participant Category during the Plan Year.\n\n     5.4 Discretionary  Adjustments.  Once established,  CVA performance  levels\nwill not be changed during the Plan Year. However, if the Committee, in its sole\nand absolute  discretion,  determines  that a change in the Company's  business,\noperations,  corporate  or capital  structure,  the manner in which it  conducts\nbusiness  or any other  material  change or event  will have a  consequence  the\nCommittee  did not  intend  which  affects  the  Bonus  Pool  formula,  then the\nCommittee may, reasonably contemporaneously with such change or event, make such\nadjustments  as it  shall  deem  appropriate  and  equitable  in the  manner  of\ncomputing CVA for purposes of application to the Bonus Pool formula for the Plan\nYear.\n\n     5.5 Discretionary  Bonuses.  Notwithstanding  any other provision contained\nherein to the contrary,  the Committee  may, in its sole  discretion,  make such\nother  or  additional   bonus  payments  to  a  Participant  as  it  shall  deem\nappropriate.\n                                   ARTICLE VI\n                             DISTRIBUTION OF REWARDS\n     6.1 Form and Timing of Payment. One-half of the amount of each Reward shall\n\n                                        7\n\n\n\n\n\nbe paid in cash on the  Payment  Date.  Payment of the  remaining  amount of the\nReward shall be deferred and paid in accordance  with the  provisions  set forth\nbelow.\n     The remaining  one-half of the Reward shall be converted  into Common Stock\nEquivalents,  the number of which shall be  determined  by using the Fair Market\nValue per share of the Common Stock as of the Payment Date,  rounded to the next\neven-numbered  whole  share.  A cash  payment  equal to the Fair Market Value of\none-half of the Common Stock  Equivalents as of the first Deferred  Payment Date\nshall be made on such date; and a cash payment equal to the Fair Market Value of\nthe remaining  Common Stock  Equivalents as of the second Deferred  Payment Date\nshall be made on such date.\n\n     6.2 Mandatory Deferral. Notwithstanding the provisions of Section 6.1, with\nrespect to a  Participant  who is a 'covered  employee'  for purposes of Section\n162(m) of the Internal Revenue Code of 1986, as amended, payment of that portion\nof a Reward  which would  otherwise  cause such  Participant's  compensation  to\nexceed the limitation on the amount of compensation deductible by the Company in\nany taxable year pursuant to such Section  162(m),  shall be deferred until such\nParticipant  is no longer a 'covered  employee,'  unless the  Committee,  in its\ndiscretion, determines that such deferral should not be required.\n\n     6.3  Elective  Deferral.  Nothing  herein  shall be  deemed to  preclude  a\nParticipant's  election to defer  receipt of a  percentage  of his or her Reward\nbeyond the time such amount  would have been payable  hereunder  pursuant to the\nHalliburton Elective Deferral Plan or other similar plan.\n\n     6.4 Tax  Withholding.  The Company or employing  Subsidiary  through  which\npayment  of a Reward  is to be made  shall  have the  right to  deduct  from any\npayment hereunder\n                                        8\n\n\n\n\n\nany amounts that Federal,  state, local or foreign tax laws require with respect\nto such payments.\n\n     6.5  No  Interest  or  Dividend   Equivalents.   No  interest  or  dividend\nequivalents  shall be  accrued  or paid  under  this  Plan on the  amount of any\nportion of a Reward as to which  distribution is deferred.  Nothing herein shall\nprohibit the  crediting of earnings or dividend  equivalents  as provided in the\nHalliburton Elective Deferral Plan on portions of Rewards as to which payment is\ndeferred pursuant to such other plan.\n\n     6.6 Small  Accounts.  Notwithstanding  the  provisions  of Section  6.1 and\nArticle  VII,  the  Committee  may, on a case by case basis to  facilitate  Plan\nadministration,  authorize a lump sum cash payment of a Reward or the  remaining\nportion  of a Reward if it deems the  amount  thereof to be too small to justify\nits deferral.\n\n                                   ARTICLE VII\n                            TERMINATION OF EMPLOYMENT\n     7.1  Termination of Service During Plan Year. In the event a  Participant's\nemployment  is  terminated  during  a  Plan  Year  for  any  reason  other  than\ntermination for Cause,  provided that a Reward would have been payable under the\nPlan for such Plan Year, such  Participant's  Reward for such Plan Year shall be\nprorated  based upon that  portion of the Plan Year during which he or she was a\nParticipant  and paid in  accordance  with  Section  6.1,  except in the case of\ndeath,  in which case the entire amount of prorated  Reward shall be paid to the\nParticipant's estate on the Payment Date.\n     If a  Participant's  employment is terminated for Cause during a Plan Year,\nall of such  Participant's  rights  to a Reward  for  such  Plan  Year  shall be\nforfeited.\n\n\n                                        9\n\n\n\n\n\n     7.2  Termination  of  Service  After  End of Plan  Year  But  Prior to Full\nPayment.  If a Participant's  employment is terminated for any reason other than\ntermination for Cause subsequent to the end of an applicable Plan Year but prior\nto the payment of a Reward in full,  the amount of the Reward then unpaid  shall\nbe paid to the Participant in accordance with Section 6.1, except in the case of\ndeath,  in  which  case the  amount  of the  Reward  then  unpaid  shall be paid\nimmediately to such Participant's estate.\n     If a Participant's employment is terminated for Cause subsequent to the end\nof an applicable  Plan Year but prior to the payment of a Reward in full, all of\nsuch  Participant's  rights to the amount of the  Reward  then  unpaid  shall be\nforfeited.\n\n                                  ARTICLE VIII\n                    RIGHTS OF PARTICIPANTS AND BENEFICIARIES\n     8.1 Status as a Participant or Beneficiary. Neither status as a Participant\nor Beneficiary  shall be construed as a commitment  that any Reward will be paid\nor payable under the Plan.\n\n     8.2 Employment. Nothing contained in the Plan or in any document related to\nthe Plan or to any  Reward  shall  confer  upon  any  Participant  any  right to\ncontinue  as an  employee  or in the employ of the  Company or a  Subsidiary  or\nconstitute  any contract or agreement of employment or interfere in any way with\nthe right of the Company or a Subsidiary to reduce such  person's  compensation,\nto change the position  held by such person or to terminate  the  employment  of\nsuch person, with or without Cause.\n\n     8.3 Nontransferability. No benefit payable under, or interest in, this Plan\nshall be subject  in any manner to  anticipation,  alienation,  sale,  transfer,\nassignment, pledge,\n                                       10\n\n\n\n\n\nencumbrance  or charge and any such  attempted  action shall be void and no such\nbenefit or interest  shall be, in any manner,  liable for, or subject to, debts,\ncontracts,  liabilities or torts of any Participant or Beneficiary.  Any attempt\nat transfer, assignment or other alienation prohibited by the preceding sentence\nshall be disregarded  and all amounts  payable  hereunder  shall be paid only in\naccordance  with the  provisions  of the Plan.  The  foregoing  notwithstanding,\nnothing in this Section 8.3 shall prevent transfer by Will or by applicable laws\nof descent and distribution.\n     8.4 Nature of Plan. No Participant,  Beneficiary or other person shall have\nany right, title or interest in any fund or in any specific asset of the Company\nor any Subsidiary by reason of any Reward  hereunder.  There shall be no funding\nof any benefits which may become  payable  hereunder.  Nothing  contained in the\nPlan (or in any document related  thereto),  nor the creation or adoption of the\nPlan,  nor any action taken pursuant to the provisions of the Plan shall create,\nor be  construed  to  create,  a trust of any kind or a  fiduciary  relationship\nbetween the Company or a Subsidiary  and any  Participant,  Beneficiary or other\nperson. To the extent that a Participant, Beneficiary or other person acquires a\nright to receive payment with respect to a Reward hereunder, such right shall be\nno greater than the right of any  unsecured  general  creditor of the Company or\nany  Subsidiary.  All  amounts  payable  under  the Plan  shall be paid from the\ngeneral assets of the Company or a Subsidiary, as applicable,  and no special or\nseparate fund or deposit shall be established and no segregation of assets shall\nbe made to assure  payment of such amounts.  Nothing in the Plan shall be deemed\nto give any employee any right to  participate  in the Plan except in accordance\nherewith.\n\n\n                                       11\n\n\n\n\n\n                                   ARTICLE IX\n                                CORPORATE CHANGE\n     In the event of a Corporate  Change,  (i) with  respect to a  Participant's\nReward  Opportunity  for the Plan Year in which the Corporate  Change  occurred,\nsuch  Participant  shall be entitled to an immediate  cash payment  equal to the\nmaximum  amount of Reward he or she would have been  entitled to receive for the\nPlan Year,  prorated to the date of the Corporate Change;  and (ii) with respect\nto Rewards earned in prior Plan Years which have not been paid in full, the Fair\nMarket Value of each  Participant's  remaining Common Stock  Equivalents for all\nsuch Plan Years shall be determined as of the Corporate  Change and paid in cash\nimmediately.\n\n                                    ARTICLE X\n                            AMENDMENT AND TERMINATION\n     Notwithstanding  anything herein to the contrary, the Committee may, at any\ntime,  terminate  or,  from  time to time  amend,  modify or  suspend  the Plan;\nprovided, however, that, without the prior consent of the Participants affected,\nno such action may adversely  affect any rights or  obligations  with respect to\nany Rewards  theretofore  earned for a particular Plan Year,  whether or not the\namounts of such Rewards  have been  computed and whether or not such Rewards are\nthen payable.\n\n                                   ARTICLE XI\n                                  MISCELLANEOUS\n     11.1  Governing Law. The Plan and all related  documents  shall be governed\nby, and construed in accordance with, the laws of the State of Texas,  except to\nthe extent preempted by federal law.\n\n                                       12\n\n\n\n\n     11.2  Severability.  If any  provision of the Plan shall be held illegal or\ninvalid for any  reason,  said  illegality  or  invalidity  shall not affect the\nremaining  provisions hereof;  instead,  each provision shall be fully severable\nand the Plan  shall be  construed  and  enforced  as if said  illegal or invalid\nprovision had never been included herein.\n\n     11.3  Successor.  All  obligations  of the Company  under the Plan shall be\nbinding upon and inure to the benefit of any  successor to the Company,  whether\nthe existence of such successor is the result of a direct or indirect  purchase,\nmerger, consolidation, or otherwise, of all or substantially all of the business\nand\/or assets of the Company.\n\n     11.4 Effective Date. The Plan shall become effective as of January 1, 1995,\nfor Plan Years  beginning  on and after  January 1,  1995,  and shall  remain in\neffect until such time as it may be terminated pursuant to Article X.\n\n\n                                       13\n\n\n\n\n\n\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[7712],"corporate_contracts_industries":[9413],"corporate_contracts_types":[9539,9546],"class_list":["post-38534","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-halliburton-co","corporate_contracts_industries-energy__services","corporate_contracts_types-compensation","corporate_contracts_types-compensation__incentive"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/38534","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=38534"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=38534"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=38534"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=38534"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}