2013 Amendment to Devon Energy Corporation 2009 Long-Term Incentive Plan
Devon Energy Corporation has amended its 2009 Long-Term Incentive Plan, effective March 6, 2013. The amendment specifies that restricted stock awards, restricted stock units, and Canadian stock units granted to eligible directors will not vest before the first anniversary of the grant date, except in cases of death, disability, approved reasons, or a change in control event. No other changes to the plan are made by this amendment.
Exhibit 10.1
2013 AMENDMENT TO THE
DEVON ENERGY CORPORATION
2009 LONG-TERM INCENTIVE PLAN
(AS AMENDED AND RESTATED EFFECTIVE JUNE 6, 2012)
The Devon Energy Corporation 2009 Long-Term Incentive Plan (as amended and restated, the “Plan”) is amended effective as of March 6, 2013, as follows:
| 1. | Section 4.1(i) of the Plan is amended by adding the following at the end thereof: |
Notwithstanding the foregoing, any Restricted Stock Award, Restricted Stock Units and Canadian Stock Units that are granted to an Eligible Director shall, except in the case of such Eligible Director’s termination of service due to death disability or an approved reason, or the occurrence of a Change in Control Event, vest not earlier than the first anniversary of the Date of Grant.
| 2. | The Plan is not otherwise amended except as provided expressly herein. |
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IN WITNESS WHEREOF, Devon Energy Corporation (acting through its authorized delegate) has caused this 2013 Amendment to the Devon Energy Corporation 2009 Long-Term Incentive Plan (as amended and restated) to be executed this 6th day of March 2013.
| DEVON ENERGY CORPORATION | ||
| By: | /s/ Frank W. Rudolph | |
| Name: | Frank W. Rudolph | |
| Title: | Executive Vice President, Human Resources | |
