{"id":40440,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/senior-executives-deferred-compensation-plan-halliburton-co.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"senior-executives-deferred-compensation-plan-halliburton-co","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/senior-executives-deferred-compensation-plan-halliburton-co.html","title":{"rendered":"Senior Executives&#8217; Deferred Compensation Plan &#8211; Halliburton Co."},"content":{"rendered":"<pre>\n                               HALLIBURTON COMPANY\n\n                               SENIOR EXECUTIVES'\n\n                           DEFERRED COMPENSATION PLAN\n\n                             AS AMENDED AND RESTATED\n\n                            EFFECTIVE January 1, 1995\n\n\n\n\n\n\n\n\n\n\n\n\n                                TABLE OF CONTENTS\n\n\nARTICLE I:    PURPOSE OF THE PLAN...................................        I-1\n\nARTICLE II:   DEFINITIONS...........................................       II-1\n\nARTICLE III:  ADMINISTRATION OF THE PLAN,\n                      PARTICIPATION IN THE PLAN AND\n                      SELECTION FOR AWARDS..........................      III-1\n\nARTICLE IV:   ALLOCATIONS UNDER THE PLAN............................       IV-1\n\nARTICLE V:    NON-ASSIGNABILITY OF AWARDS...........................        V-1\n\nARTICLE VI:   VESTING...............................................       VI-1\n\nARTICLE VII:  DISTRIBUTION OF AWARDS................................      VII-1\n\nARTICLE VIII: NATURE OF PLAN........................................     VIII-1\n\nARTICLE IX:   FUNDING OF OBLIGATION.................................       IX-1\n\nARTICLE X:    AMENDMENT OR TERMINATION OF PLAN......................        X-1\n\nARTICLE XI:   GENERAL PROVISIONS....................................       XI-1\n\nARTICLE XII:  EFFECTIVE DATE........................................      XII-1\n\n\n\n                                       (i)\n\n\n\n\n\n                               HALLIBURTON COMPANY\n\n                               SENIOR EXECUTIVES'\n\n                           DEFERRED COMPENSATION PLAN\n\n\n         The  Board of  Directors  of  Halliburton  Company,  having  heretofore\nestablished the Halliburton  Company Senior  Executives'  Deferred  Compensation\nPlan,  pursuant to the provisions of ARTICLE IX of said Plan,  hereby amends and\nrestates said Plan to be effective in accordance  with the provisions of ARTICLE\nXII hereof.\n\n\n\n                                      (ii)\n\n\n\n\n\n                                    ARTICLE I\n\n                               Purpose of the Plan\n\n         The purpose of the  Halliburton  Company  Senior  Executives'  Deferred\nCompensation  Plan is to promote  growth of the Company,  provide an  additional\nmeans of attracting  and holding  qualified,  competent  executives  and provide\nsupplemental retirement benefits for the Participants.\n\n\n                                       I-1\n\n\n\n\n\n                                   ARTICLE II\n\n                                   Definitions\n\n         (A)  'Account(s)'  shall  mean a  Participant's  Deferred  Compensation\nAccount, ERISA Restoration Account, and\/or Mandatory Deferral Account, including\namounts credited thereto.\n\n         (B) 'Administrative  Committee' shall mean the administrative committee\nappointed by the Compensation Committee to administer the Plan.\n\n         (C)  'Allocation  Year'  shall  mean the  calendar  year  for  which an\nallocation is made to a Participant's Account pursuant to Article IV.\n\n         (D)  'Board of  Directors'  shall  mean the Board of  Directors  of the\nCompany.\n\n         (E) 'Code' shall mean the Internal Revenue Code of 1986, as amended.\n\n         (F) 'Compensation  Committee' shall mean the Compensation  Committee of\nthe Board of Directors.\n\n         (G) 'Company' shall mean Halliburton Company.\n\n         (H) 'Deferred  Compensation  Account' shall mean an individual  account\nfor each  Participant  on the books of such  Participant's  Employer to which is\ncredited amounts  allocated for the benefit of such Participant  pursuant to the\nprovisions of Article IV, Paragraph (E).\n\n         (I) 'Employee' shall mean any senior executive, including an officer of\nan Employer (whether or not he is also a director  thereof),  who is employed by\nan Employer on a full-time  basis,  who is compensated  for such employment by a\nregular salary, and who, in the opinion of the Compensation Committee, is one of\nthe key personnel of an Employer in a position to  contribute  materially to its\ncontinued growth and development and to its future financial success,  or who in\nthe past has  contributed  materially to its growth,  development  and financial\nsuccess.  The term does not include  independent  contractors or persons who are\nretained by an Employer as consultants only.\n\n         (J) 'Employer' shall mean the Company and any Subsidiary  designated as\nan Employer in accordance with the provisions of Article III of the Plan.\n\n         (K) 'ERISA  Restoration  Account' shall mean an individual  account for\neach  Participant  on the  books  of such  Participant's  Employer  to  which is\ncredited amounts  allocated for the benefit of such Participant  pursuant to the\nprovisions of Article IV,  Paragraph  (G).  Such Account  shall include  amounts\nallocated to a Participant's 'Excess Benefit Account' prior to January 1, 1995.\n\n\n\n                                      II-1\n\n\n\n\n\n         (L) 'Mandatory  Deferral Account' shall mean an individual  account for\neach  Participant  on the  books  of such  Participant's  Employer  to  which is\ncredited amounts  allocated for the benefit of such Participant  pursuant to the\nprovisions of Article IV, Paragraph (H).\n\n         (M)  'Participant'  shall mean an Employee  who is  allocated  deferred\ncompensation hereunder.\n\n         (N)  'Plan'  shall  mean the  Halliburton  Company  Senior  Executives'\nDeferred  Compensation Plan, as amended and restated January 1, 1995, and as the\nsame may thereafter be amended from time to time.\n\n         (O) 'Subsidiary' shall mean at any given time, any other corporation of\nwhich an  aggregate of 80% or more of the  outstanding  voting stock is owned of\nrecord or beneficially,  directly or indirectly,  by the Company or any other of\nits Subsidiaries or both.\n\n         (P)  'Termination of Service' shall mean severance from employment with\nan Employer for any reason other than a transfer between Employers.\n\n         (Q) 'Trust' shall mean any trust created  pursuant to the provisions of\nArticle IX.\n\n         (R) 'Trust Agreement' shall mean the agreement establishing the Trust.\n\n         (S) 'Trustee' shall mean the trustee of the Trust.\n\n         (T) 'Trust  Fund' shall mean  assets  under the Trust as may exist from\ntime to time.\n\n\n\n                                      II-2\n\n\n\n\n\n                                   ARTICLE III\n\n                           Administration of the Plan\n\n         (A)  The  Compensation   Committee  shall  appoint  an   Administrative\nCommittee to administer,  construe and interpret the Plan.  Such  Administrative\nCommittee, or such successor  Administrative  Committee as may be duly appointed\nby the Compensation  Committee,  shall serve at the pleasure of the Compensation\nCommittee.  Decisions of the Administrative Committee with respect to any matter\ninvolving the Plan shall be final and binding on the Company,  its shareholders,\neach  Employer and all  officers  and other  executives  of the  Employers.  For\npurposes  of  the  Employee   Retirement   Income  Security  Act  of  1974,  the\nAdministrative  Committee  shall be the Plan  'administrator'  and  shall be the\n'named fiduciary' with respect to the general administration of the Plan.\n\n         (B) The  Administrative  Committee shall maintain complete and adequate\nrecords  pertaining  to the Plan,  including  but not  limited to  Participants'\nAccounts,  amounts  transferred  to the Trust,  reports from the Trustee and all\nother records which shall be necessary or desirable in the proper administration\nof the Plan.  The  Administrative  Committee  shall  furnish  the  Trustee  such\ninformation  as is required to be furnished by the  Administrative  Committee or\nthe Company pursuant to the Trust Agreement.\n\n         (C) The Company (the  'Indemnifying  Party') hereby agrees to indemnify\nand hold harmless the members of the Administrative  Committee (the 'Indemnified\nParties') against any losses, claims, damages or liabilities to which any of the\nIndemnified  Parties may become subject to the extent that such losses,  claims,\ndamages or liabilities  or actions in respect  thereof arise out of or are based\nupon  any act or  omission  of the  Indemnified  Party  in  connection  with the\nadministration  of this Plan (including any act or omission of such  Indemnified\nParty  constituting  negligence,  but  excluding  any  act or  omission  of such\nIndemnified Party constituting gross negligence or wilful misconduct),  and will\nreimburse  the  Indemnified  Party  for any legal or other  expenses  reasonably\nincurred by him or her in connection with investigating or defending against any\nsuch loss, claim, damage, liability or action.\n\n         (D) Promptly after receipt by the Indemnified Party under the preceding\nparagraph of notice of the commencement of any action or proceeding with respect\nto any loss,  claim,  damage or liability  against which the  Indemnified  Party\nbelieves he or she is indemnified under the preceding paragraph, the Indemnified\nParty  shall,  if a  claim  with  respect  thereto  is to be  made  against  the\nIndemnifying  Party  under  such  paragraph,  notify the  Indemnifying  Party in\nwriting of the commencement thereof; provided,  however, that the omission so to\nnotify the  Indemnifying  Party shall not relieve it from any liability which it\nmay have to the Indemnified  Party to the extent the  Indemnifying  Party is not\nprejudiced by such omission.  If any such action or proceeding  shall be brought\nagainst the Indemnified Party, and it shall notify the Indemnifying Party of the\ncommencement  thereof,  the Indemnifying  Party shall be entitled to participate\ntherein,  and, to the extent that it shall wish, to assume the defense  thereof,\nwith counsel reasonably satisfactory to the Indemnified Party, and, after notice\nfrom the  Indemnifying Party to the Indemnified  Party of its election to assume\n\n                                      III-1\n\n\n\n\n\nthe  defense  thereof,  the  Indemnifying  Party  shall  not be  liable  to such\nIndemnified Party under the preceding  paragraph for any legal or other expenses\nsubsequently  incurred by the  Indemnified  Party in connection with the defense\nthereof other than reasonable costs of  investigation or reasonable  expenses of\nactions taken at the written request of the Indemnifying Party. The Indemnifying\nParty shall not be liable for any compromise or settlement of any such action or\nproceeding effected without its consent,  which consent will not be unreasonably\nwithheld.\n\n         (E) The  Administrative  Committee may  designate any  Subsidiary as an\nEmployer by written instrument delivered to the Secretary of the Company and the\ndesignated Employer. Such written instrument shall specify the effective date of\nsuch designated  participation,  may incorporate specific provisions relating to\nthe operation of the Plan which apply to the designated  Employer only and shall\nbecome,  as to such designated  Employer and its employees,  a part of the Plan.\nEach designated Employer shall be conclusively presumed to have consented to its\ndesignation  and to have agreed to be bound by the terms of the Plan and any and\nall amendments  thereto upon its submission of information to the Administrative\nCommittee  required  by the  terms of or with  respect  to the  Plan;  provided,\nhowever,  that  the  terms of the Plan may be  modified  so as to  increase  the\nobligations of an Employer only with the consent of such Employer, which consent\nshall be  conclusively  presumed  to have been given by such  Employer  upon its\nsubmission of any information to the  Administrative  Committee  required by the\nterms of or with respect to the Plan.  Except as modified by the  Administrative\nCommittee  in its  written  instrument,  the  provisions  of this Plan  shall be\napplicable  with  respect  to each  Employer  separately,  and  amounts  payable\nhereunder   shall  be  paid  by  the  Employer   which  employs  the  particular\nParticipant, if not paid from the Trust Fund.\n\n         (F) No member of the  Administrative  Committee shall have any right to\nvote or decide upon any matter  relating  solely to himself under the Plan or to\nvote in any case in which his  individual  right to claim any benefit  under the\nPlan is particularly involved. In any case in which an Administrative  Committee\nmember is so  disqualified  to act and the remaining  members cannot agree,  the\nCompensation  Committee shall appoint a temporary  substitute member to exercise\nall the powers of the disqualified  member  concerning the matter in which he is\ndisqualified.\n\n\n\n                                      III-2\n\n\n\n\n\n                                   ARTICLE IV\n\n                           Allocations Under the Plan,\n               Participation in the Plan and Selection for Awards\n\n         (A) Only Employees  shall be eligible to be  Participants  in the Plan.\nThe  Compensation  Committee shall be the sole judge of who shall be eligible to\nbe a Participant  for any Allocation  Year. The selection of an Employee to be a\nParticipant  for  a  particular  Allocation  Year  shall  not  constitute  him a\nParticipant  for  another  Allocation  Year  unless  he  is  selected  to  be  a\nParticipant for such other Allocation Year by the Compensation Committee.\n\n         (B) Each Allocation Year the Compensation  Committee shall, in its sole\ndiscretion,  determine  what amounts  shall be available  for  allocation to the\nAccounts of the Participants pursuant to Paragraph (E) below.\n\n         (C) No award shall be made to any person while he is a voting member of\nthe Compensation Committee.\n\n         (D) The  Compensation  Committee from time to time may adopt,  amend or\nrevoke such  regulations and rules as it may deem advisable for its own purposes\nto guide in determining  which of the Employees it shall deem to be Participants\nfor a particular Allocation Year and the method and manner of payment thereof to\nthe Participants.\n\n         (E) The Compensation Committee,  during the Allocation Year involved or\nduring the next  succeeding  Allocation  Year,  shall  determine  which eligible\nEmployees it shall  designate as  Participants  for such Allocation Year and the\namounts  allocated to each  Participant for such Allocation  Year. In making its\ndetermination,  the  Compensation  Committee  shall consider such factors as the\nCompensation   Committee  may  in  its  sole  discretion   deem  material.   The\nCompensation  Committee,  in its sole discretion,  may notify an Employee at any\ntime during a particular Allocation Year or in the Allocation Year following the\nAllocation  Year for  which the  award is made  that he has been  selected  as a\nParticipant  for all or part of such  Allocation  Year,  and may  determine  and\nnotify him of the amount  which shall be  allocated  to him for such  Allocation\nYear. The decision of the Compensation  Committee in selecting an Employee to be\na Participant or in making any allocation to him shall be final and  conclusive,\nand  nothing  herein  shall  be  deemed  to  give  any  Employee  or  his  legal\nrepresentatives  or assigns any right to be a  Participant  for such  Allocation\nYear or to be allocated any amount  except to the extent of the amount,  if any,\nallocated to a Participant  for a particular  Allocation  Year, but at all times\nsubject to the provisions of the Plan.\n\n         (F) An Employee whose Service is Terminated  during the Allocation Year\nand who, on the date of Termination of Service, was eligible to be a Participant\nmay be selected as a Participant  for such part of the Allocation  Year prior to\nhis  Termination  and be granted such award with respect to his services  during\nsuch part of the  Allocation  Year as the  Compensation  Committee,  in its sole\ndiscretion and under any rules it may promulgate, may determine.\n\n                                      IV-1\n\n\n\n\n\n         (G) The  Administrative  Committee  shall determine for each Allocation\nYear which Participants'  allocations of Employer  contributions and forfeitures\nunder qualified defined  contribution plans sponsored by the Employers have been\nreduced  for such  Allocation  Year by  reason  of the  application  of  Section\n401(a)(17) or Section 415 of the Code, or any  combination of such Sections,  or\nby reason of elective  deferrals under the Halliburton  Elective  Deferral Plan,\nand shall  allocate  to the  credit of each such  Participant  under the Plan an\namount equal to the amount of such reductions applicable to such Participant.\n\n         (H) The Compensation Committee shall determine for each Allocation Year\nwhether  any  remuneration  payable to  Participants  by the  Employers  will be\ntreated as excessive employee  remuneration within the meaning of Section 162(m)\nof the Code for such Allocation Year, and, rather than paying any such excessive\nremuneration  to such  Participants,  shall  allocate to the credit of each such\nParticipant  under  the  Plan an  amount  equal  to the  amount  of such  excess\nremuneration applicable to such Participant.\n\n         (I)  Allocations  to  Participants  under  the  Plan  shall  be made by\ncrediting  their  respective  Accounts on the books of their Employers as of the\nlast day of the Allocation Year.  Allocations under Paragraph (E) above shall be\ncredited to the Participants' Deferred Compensation Accounts,  allocations under\nParagraph  (G) above shall be credited to the  Participants'  ERISA  Restoration\nAccounts  and  allocations  under  Paragraph  (H)  above  shall be  credited  to\nParticipants' Mandatory Deferral Account. Accounts of Participants shall also be\ncredited with interest as of the last day of each  Allocation  Year, at the rate\nset forth in Paragraph (J) below,  on the average  monthly credit balance of the\nAccount  being  calculated by using the balance of each Account on the first day\nof each month.  Prior to  Termination  of  Service,  the annual  interest  shall\naccumulate as a part of the Account balance.  After Termination of Service,  the\nannual interest for such Allocation  Year may be paid as more  particularly  set\nforth hereinafter.\n\n         (J) Interest  shall be credited on amounts  allocated to  Participants'\nDeferred  Compensation Accounts at the rate of 5% per annum for periods prior to\nTermination  of Service.  Interest  shall be credited  on amounts  allocated  to\nParticipants' ERISA Restoration Accounts and Mandatory Deferral Accounts, and on\namounts allocated to Participants'  Deferred  Compensation  Accounts for periods\nsubsequent to Termination of Service, at the rate of 10% per annum.\n\n\n\n                                      IV-2\n\n\n\n\n\n                                    ARTICLE V\n\n                           Non-Assignability of Awards\n\n         No  Participant  shall  have any right to  commute,  encumber,  pledge,\ntransfer  or  otherwise  dispose of or alienate  any present or future  right or\nexpectancy  which  he or she may  have at any time to  receive  payments  of any\nallocations  made to such  Participant,  all such  allocations  being  expressly\nhereby made non-assignable and non-transferable; provided, however, that nothing\nin this Article  shall  prevent  transfer by will or by the  applicable  laws of\ndescent and distribution. Attempts to transfer or assign by a Participant shall,\nin the sole discretion of the Compensation Committee after consideration of such\nfacts as it deems  pertinent,  be  grounds  for  terminating  any rights of such\nParticipant  to any awards  allocated  to but not  previously  paid over to such\nParticipant.\n\n\n                                       V-1\n\n\n\n\n\n                                   ARTICLE VI\n\n                                     Vesting\n\n         All amounts credited to a Participant's  Accounts shall be fully vested\nand not subject to forfeiture for any reason except as provided in Article V.\n\n\n\n                                      VI-1\n\n\n\n\n\n                                   ARTICLE VII\n\n                             Distribution of Awards\n\n         (A) Upon  Termination of Service of a Participant,  the  Administrative\nCommittee (i) shall certify to the Trustee or the treasurer of the Employer,  as\napplicable,  the amount  credited to each of the  Participant's  Accounts on the\nbooks of each Employer for which the  Participant was employed at a time when he\nearned an award  hereunder,  (ii) shall  determine  whether  the  payment of the\namount  credited to each of the  Participant's  Accounts under the Plan is to be\npaid directly by the applicable  Employer,  from the Trust Fund, if any, or by a\ncombination  of such sources  (except to the extent the  provisions of the Trust\nAgreement,  if any,  specify  payment  from the  Trust  Fund)  and  (iii)  shall\ndetermine  and  certify to the  Trustee or the  treasurer  of the  Employer,  as\napplicable,  the  method  of  payment  of  the  amount  credited  to  each  of a\nParticipant's Accounts,  selected by the Administrative Committee from among the\nfollowing alternatives:\n\n                  (1)  A single lump sum payment upon Termination of Service;\n\n                  (2) A payment of one-half of the  Participant's  balance  upon\n         Termination of Service,  with payment of the additional  one-half to be\n         made on or  before  the  last day of a  period  of one  year  following\n         Termination; or\n\n                  (3)  Payment  in  monthly  installments  over a period  not to\n         exceed ten years with such  payments to commence  upon  Termination  of\n         Service.\n\nThe above  notwithstanding,  if the total amount  credited to the  Participant's\nAccounts upon  Termination  of Service is less than  $50,000,  such amount shall\nalways be paid in a single lump sum payment upon Termination of Service.\n\n         (B) The Trustee or the treasurer of the Employer, as applicable,  shall\nthereafter make payments of awards in the manner and at the times so designated,\nsubject,  however, to all of the other terms and conditions of this Plan and the\nTrust  Agreement,  if any. This Plan shall be deemed to authorize the payment of\nall or any  portion of a  Participant's  award from the Trust Fund to the extent\nsuch payment is required by the provisions of the Trust Agreement, if any.\n\n         (C)  Interest on the second half of a payment  under  Paragraph  (A)(2)\nabove shall be paid with the final  payment,  while  interest on payments  under\nParagraph  (A)(3) above may be paid at each year end or may be paid as a part of\na level monthly payment computed by the Administrative Committee through the use\nof such tables as the  Administrative  Committee  shall select from time to time\nfor such purpose.\n\n         (D) If a Participant shall die while in the service of an Employer,  or\nafter  Termination of Service and prior to the time when all amounts  payable to\nhim under the Plan have been paid to him, any remaining  amounts  payable to the\nParticipant  hereunder  shall be payable to the estate of the  Participant.  The\nAdministrative  Committee  shall  cause  the  Trustee  or the  treasurer  of the\nEmployer,  as  applicable,  to pay to the estate of the  Participant  all of the\n\n\n                                      VII-1\n\n\n\n\n\n\nawards  then  standing  to his  credit  in a lump sum or in such  other  form of\npayment  consistent with the  alternative  methods of payment set forth above as\nthe  Administrative  Committee shall determine after  considering such facts and\ncircumstances relating to the Participant and his estate as it deems pertinent.\n\n         (E) If the Plan is terminated pursuant to the provisions of Article XI,\nthe  Compensation  Committee  may, at its election  and in its sole  discretion,\ncause the Trustee or the treasurer of the Employer, as applicable, to pay to all\nParticipants all of the awards then standing to their credit in the form of lump\nsum payments.\n\n\n\n                                      VII-2\n\n\n\n\n\n                                  ARTICLE VIII\n\n                                 Nature of Plan\n\n         This Plan  constitutes  a mere promise by the Employers to make benefit\npayments  in the future and  Participants  have the status of general  unsecured\ncreditors of the Employers.  Further,  the adoption of this Plan and any setting\naside of amounts by the  Employers  with which to  discharge  their  obligations\nhereunder  shall not be deemed to create a trust;  legal and equitable  title to\nany funds so set aside  shall  remain in the  Employers,  and any  recipient  of\nbenefits  hereunder shall have no security or other interest in such funds.  Any\nand all funds so set aside  shall  remain  subject to the claims of the  general\ncreditors of the Employers, present and future. This provision shall not require\nthe Employers to set aside any funds, but the Employers may set aside such funds\nif they choose to do so.\n\n\n\n                                     VIII-1\n\n\n\n\n\n                                   ARTICLE IX\n\n                              Funding of Obligation\n\n         Article VIII above to the contrary  notwithstanding,  the Employers may\nfund all or part of their  obligations  hereunder  by  transferring  assets to a\ntrust if the  provisions of the trust  agreement  creating the Trust require the\nuse of the Trust's assets to satisfy claims of an Employer's  general  unsecured\ncreditors  in the  event  of such  Employer's  insolvency  and  provide  that no\nParticipant  shall at any time have a prior claim to such assets.  Any transfers\nof assets to a trust may be made by each Employer individually or by the Company\non behalf of all  Employers.  The assets of the Trust  shall not be deemed to be\nassets of this Plan.\n\n\n\n                                      IX-1\n\n\n\n\n\n                                    ARTICLE X\n\n                        Amendment or Termination of Plan\n\n         The Compensation  Committee shall have the power and right from time to\ntime to modify, amend,  supplement,  suspend or terminate the Plan as it applies\nto each  Employer,  provided  that no such  change  in the  Plan may  deprive  a\nParticipant of the amounts allocated to his or her Accounts or be retroactive in\neffect to the prejudice of any  Participant  and the interest rate applicable to\namounts credited to Participants' Accounts for periods subsequent to Termination\nof Service  shall not be  reduced  below 6% per  annum.  Any such  modification,\namendment, supplement,  suspension or termination shall be in writing and signed\nby a member of the Compensation Committee.\n\n\n\n                                       X-1\n\n\n\n\n\n                                   ARTICLE XI\n\n                               General Provisions\n\n         (A) No Participant shall have any preference over the general creditors\nof an Employer in the event of such Employer's insolvency.\n\n         (B) Nothing  contained herein shall be construed to give any person the\nright to be retained in the employ of an Employer or to interfere with the right\nof an Employer to terminate the employment of any person at any time.\n\n         (C) If the Administrative  Committee receives evidence  satisfactory to\nit that any person  entitled to receive a payment  hereunder is, at the time the\nbenefit is payable, physically,  mentally or legally incompetent to receive such\npayment  and to  give a valid  receipt  therefor,  and  that  an  individual  or\ninstitution  is then  maintaining  or has  custody  of such  person  and that no\nguardian,  committee  or other  representative  of the estate of such person has\nbeen duly appointed,  the Administrative  Committee may direct that such payment\nthereof be paid to such individual or institution  maintaining or having custody\nof such person, and the receipt of such individual or institution shall be valid\nand a complete discharge for the payment of such benefit.\n\n         (D) Payments to be made  hereunder  may, at the written  request of the\nParticipant, be made to a bank account designated by such Participant,  provided\nthat  deposits to the credit of such  Participant  in any bank or trust  company\nshall be deemed payment into his hands.\n\n         (E)  Wherever any words are used herein in the  masculine,  feminine or\nneuter gender,  they shall be construed as though they were also used in another\ngender in all cases where they would so apply,  and  whenever  any words  reused\nherein in the  singular or plural  form,  they shall be construed as though they\nwere also used in the other form in all cases where they would so apply.\n\n         (F) THIS PLAN SHALL BE  CONSTRUED  AND  ENFORCED  UNDER THE LAWS OF THE\nSTATE OF TEXAS EXCEPT TO THE EXTENT PREEMPTED BY FEDERAL LAW.\n\n\n\n                                      XI-1\n\n\n\n\n                                   ARTICLE XII\n\n                                 Effective Date\n\n         This amendment and  restatement of the Plan shall be effective from and\nafter  January 1, 1995,  except that the addition of Article IV,  Paragraph  (H)\nshall be effective for the 1994  Allocation  Year,  and shall  continue in force\nduring  subsequent years unless amended or revoked by action of the Compensation\nCommittee.\n\n\n\n                                                   HALLIBURTON COMPANY\n\n\n\n                                                   By \/s\/ Thomas H. Cruikshank\n                                                      Thomas H. Cruikshank\n                                                      Chairman of the Board and\n                                                        Chief Executive Officer\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n                                      XII-1\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":[9539,9542],"class_list":["post-40440","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__deferred"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/40440","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=40440"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=40440"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=40440"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=40440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}