{"id":39213,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/employment-agreement-halliburton-co-and-david-j-lesar.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-halliburton-co-and-david-j-lesar","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-halliburton-co-and-david-j-lesar.html","title":{"rendered":"Employment Agreement &#8211; Halliburton Co. and David J. Lesar"},"content":{"rendered":"<pre>\n                              EMPLOYMENT AGREEMENT\n         This Employment Agreement  ('Agreement') is entered into by and between\nHalliburton Company  ('Employer') and David J. Lesar ('Employee'),  effective as\nof August 1, 1995 (the  'Effective  Date'),  in connection  with the transfer of\nEmployee's  employment from Halliburton Energy Services,  a division of Employer\n('HES'), to the Employer.\n\n                                    RECITALS:\n\n         Employee and HES previously entered into an agreement dated October 26,\n1993 (the '1993  Agreement')  setting  forth  certain  terms and  conditions  of\nEmployee's employment by HES.\n\n         The  purpose of this  Agreement  is to  clarify  which of the terms and\nconditions  contained in the 1993  Agreement  apply to Employee's  employment by\nEmployer  and to set  forth the  parties'  further  agreement  with  respect  to\nEmployee's employment by Employer.\n\n         Employer and Employee hereby agree as follows:\n\n         1. Employee shall be employed by Employer as of the Effective  Date as \nits Executive  Vice  President and Chief  Financial Officer.\n\n         2. If Employee's employment is involuntarily terminated by Employer for\nany reason other than  termination for Cause (as hereinafter  defined)  Employer\nshall pay to Employee a lump sum cash severance benefit within 30 days, equal to\n(i)  the  product  obtained  by  multiplying   Employee's   annual  base  salary\n(referenced  with respect to the highest  annual base salary rate achieved while\nemployed  by  Employer)  by five and (ii) the value of any shares of  Employer's\ncommon stock (based upon the closing price of Employer's common stock on the New\nYork Stock Exchange on the date of termination of employment) which were granted\nto Employer  under the Employer's  1993 Stock and Long-Term  Incentive Plan (the\n'1993  Plan'),  or any  successor  plan,  and which are forfeited as a result of\nEmployee's termination of employment.\n\n         'Cause'  shall  mean  (i)  Employee's   gross   negligence  or  willful\nmisconduct in the performance of his duties and  responsibilities to Employer or\n(ii) Employee's conviction of a felony.\n\n         3. While Employee is employed by Employer,  Employee will be designated\nas  a  participant  in  the  Halliburton  Company  Senior  Executives'  Deferred\nCompensation Plan (or any successor  supplemental  retirement  benefit plan) and\nannual allocations to Employee's Deferred  Compensation  Account thereunder will\nbe recommended  to the  Compensation  Committee of Directors (the  'Compensation\nCommittee'),  which  recommended  allocations  shall be no less than the  amount\ncalculated  pursuant to the Compensation  Committee's then existing  methodology\nfor calculating supplemental retirement additions.\n\n\n                                       -2-\n\n         4. While Employee is employed by Employer, annual grants of options for\nEmployee to purchase  shares of Employer's  Common Stock under the 1993 Plan, or\nany successor  plan,  will be recommended to the  Compensation  Committee,  such\nrecommendations  to be consistent,  in terms of grant size and other provisions,\nwith the criteria  utilized from time to time by the Compensation  Committee for\nsimilarly situated executives.\n\n         5. This Agreement supersedes in all respects the 1993 Agreement.\n\n         This  Agreement is executed this 5th day of March,  1996, but effective\nas of the date first above stated.\n\n\n                                           HALLIBURTON COMPANY\n\n\n\n                                           By:\/s\/ Richard B. Cheney\n                                              Richard B. Cheney\n                                              Chairman of the Board, President\n                                                and Chief Executive Officer\n\n\n                                              EMPLOYEE\n\n\n\n                                              \/s\/ David J. Lesar\n                                              David J. Lesar\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":[9539,9544],"class_list":["post-39213","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__employment"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/39213","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=39213"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=39213"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=39213"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=39213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}