The following definitions shall be applicable throughout the Stock Incentive Plan unless specifically modified by any paragraph:
Affiliate means any corporation, partnership, limited liability company or partnership, association, trust, or other organization which, directly or indirectly, controls, is controlled by, or is under common control with, the Company. For purposes of the preceding sentence, control (including, with correlative meanings, the terms controlled by and under common control with), as used with respect to any entity or organization, shall mean the possession, directly or indirectly, of the power (i) to vote more than 50% of the securities having ordinary voting power for the election of directors of the controlled entity or organization or (ii) to direct or cause the direction of the management and policies of the controlled entity or organization, whether through the ownership of voting securities or by contract or otherwise.
Award means, individually or collectively, any Option, Restricted Stock Award, or Performance Award.
Board means the Board of Directors of the Company.
Code means the Internal Revenue Code of 1986, as amended. Reference in the Stock Incentive Plan to any section of the Code shall be deemed to include any amendments or successor provisions to such section and any regulations under such section.
Committee means a committee of the Board that is selected by the Board as provided in Paragraph IV(a).
Common Stock means the common stock, par value $0.001 per share, of the Company, or any security into which such common stock may be changed by reason of any transaction or event of the type described in Paragraph X.
Company means Concho Resources Inc., a Delaware corporation.
Consultant means any person who is not an employee or a Director and who is providing advisory or consulting services to the Company or any Affiliate.
Corporate Change shall have the meaning assigned to such term in Paragraph X(c) of the Stock Incentive Plan.
Director means an individual who is a member of the Board.
Effective Date means March 25, 2019.
An employee means any person (including a Director) in an employment relationship with the Company or any Affiliate.
Exchange Act means the Securities Exchange Act of 1934, as amended.
Fair Market Value means, as of any specified date, the mean of the high and low sales prices of the Common Stock, if the Common Stock is listed on a national stock exchange registered under section 6(a) of the Exchange Act, reported on the stock exchange composite tape on that date (or such other reporting service approved by the Committee); or, if no prices are reported on that date, on the last preceding date on which such prices of the Common Stock are so reported.