FIRST AMENDMENT TO
HALLIBURTON ELECTIVE DEFERRAL PLAN
WHEREAS, Halliburton Company (the "Company") has heretofore adopted the
Halliburton Elective Deferral Plan (the "Plan"); and
WHEREAS, the Plan was amended and restated effective January 1, 2000;
WHEREAS, the Company desires to amend the Plan;
NOW, THEREFORE, the Plan is hereby amended as follows:
I. Effective as of October 1, 2000:
1. The following new Section 1.1(11A) and 1.1(11B) shall be added
to the Plan immediately following Section 1.1(11):
(11A) Eligible Employee: Any Employee who is (1) a permanent
Full-Time Active Employee, (2) subject to the income tax laws
of the United States, and (3) an officer or member of a select
group of highly compensated employees of the Employer.
(11B) Employee: Any person employed by the Employer.
2. The following new Section 1.1(12A) shall be added to the Plan
immediately following Section 1.1(12):
(12A) Full-Time Active Employee: An Employee whose employment with
the Employer requires, and who regularly and actively
performs, 30 or more hours of service for the Employer each
week at a usual place of business of the Employer or at a
location to which such Employee is required or permitted to
travel on behalf of the Employer for which such Employee is
paid regular compensation.
3. Article II of the Plan shall be deleted and replaced with the
following:
II.
Participation
2.1 Participation. Participants in the Plan are those
Eligible Employees who are selected by the Committee, in its sole
discretion, as Participants. The Committee shall notify each
Participant of his selection as a Participant. Subject to the
provisions of Section 2.2, a Participant shall remain eligible to defer
Base Salary and/or Bonus Compensation hereunder for each Plan Year
following his initial year of participation in the Plan.
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2.2 Cessation of Active Participation. Notwithstanding any
provision herein to the contrary, an individual who has become a
Participant in the Plan shall cease to be entitled to defer Base Salary
and/or Bonus Compensation hereunder effective as of the date he ceases
to be an Eligible Employee or any earlier date designated by the
Committee. Any such Committee action shall be communicated to the
affected individual prior to the effective date of such action.
II. Effective as of January 1, 2001:
1. The first sentence of Section 3.1(a) of the Plan shall be
deleted and replaced with the following:
Any participant may elect to defer receipt of an integral percentage of
from 5% to 75% of his Base Salary, in 5% increments, for any Plan Year.
2. The first sentence of Section 3.2 of the Plan shall be
deleted and replaced with the following:
Any Participant may elect to defer receipt of an integral percentage of
from 5% to 75% of his Bonus Compensation, in 5% increments, for any
Plan Year.
III. As amended hereby, the Plan is specifically ratified and reaffirmed.
EXECUTED this 13th day of September, 2000.
HALLIBURTON COMPANY
By: /s/ David J. Lesar
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David J. Lesar
Chairman of the Board, President
and Chief Executive Officer
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