Amendment No. 1 to Petrohawk Energy Corporation Second Amended and Restated 2004 Employee Incentive Plan
This amendment updates the Petrohawk Energy Corporation's 2004 Employee Incentive Plan by changing the maximum number of shares that can be issued as Restricted Stock, Incentive Stock, and under Stock Options. The new limits are 7,050,000 total shares for all awards, with a combined maximum of 3,525,000 shares for Restricted Stock and Incentive Stock. The amendment is effective as of July 12, 2006, and is executed by the company's President and CEO.
Exhibit 10.7
AMENDMENT NO. 1 TO THE PETROHAWK ENERGY CORPORATION
SECOND AMENDED AND RESTATED 2004 EMPLOYEE INCENTIVE PLAN
The first two sentences in Section V of the Petrohawk Energy Corporation Second Amended and Restated 2004 Employee Incentive Plan (the “Plan”) are hereby deleted in their entirety and replaced with the following:
“The aggregate number of shares of Restricted Stock, shares of Incentive Stock and Shares which may be issued under Stock Options granted under the Plan shall not exceed 7,050,000. In addition, the aggregate number of shares of Restricted Stock and Incentive Stock combined which may be issued under the Plan shall not exceed 3,525,000.”
This Amendment No. 1 to the Plan is effective this 12th day of July, 2006.
| Petrohawk Energy Corporation | ||
| By: | /s/ Floyd C. Wilson | |
| Name: | Floyd C. Wilson | |
| Title: | President, Chief Executive Officer and Chairman of the Board | |
