EXHIBIT 10.12(b)
FIRST AMENDMENT TO
EOG RESOURCES, INC. SAVINGS PLAN
THIS AGREEMENT, by EOG Resources, Inc. (the "Sponsor"),
WITNESSETH:
WHEREAS, the Sponsor maintains the EOG Resources, Inc.
Savings Plan (the "Plan");
WHEREAS, the Sponsor retained the right in Section 13.1 of
the Plan to amend the Plan from time to time;
WHEREAS, the Plan is required to be amended to comply with
final and temporary regulations promulgated under
section 401(a)(9) of the Internal Revenue Code of 1986, as
amended (the "Code"), on April 17, 2002; and
WHEREAS, the Board of Directors of the Sponsor approved
resolutions authorizing the proper officers of the Sponsor to
amend the Plan to comply with the requirements of the Code;
NOW, THEREFORE, the Plan is hereby amended, effective
January 1, 2003, except as otherwise required by applicable law
or as provided in the applicable provisions of the Plan, as
follows:
A new Article XVII is hereby added to the Plan to
provide as set forth in the substitute pages attached
hereto which shall be inserted into the Plan
immediately following Article XVI of the Plan.
IN WITNESS WHEREOF, the Sponsor has executed this Agreement
this 15th day of December 2003.
EOG RESOURCES, INC.
By: /s/ XXXXXXXX XXXXXXX
Xxxxxxxx Xxxxxxx
Title: V.P. Human Resources,
Administration and
Corporate Secretary
ARTICLE XVII
MINIMUM DISTRIBUTION REQUIREMENTS
17.1 General Rules
(a) Effective Date. The provisions of this Article will apply
for purposes of determining required minimum distributions for
calendar years beginning with the 2003 calendar year.
(b) Precedence. The requirements of this Article will take
precedence over any inconsistent provisions of the Plan.
(c) Requirements of Treasury Regulations Incorporated. All
distributions required under this Article will be determined and
made in accordance with the Treasury regulations under
section 401(a)(9) of the Code.
(d) TEFRA Section 242(b)(2) Elections. Notwithstanding the
other provisions of this Article, distributions may be made under
a designation made before January 1, 1984, in accordance with
section 242(b)(2) of the Tax Equity and Fiscal Responsibility Act
("TEFRA") and the provisions of the Plan that relate to
section 242(b)(2) of TEFRA.
17.2 Time and Manner of Distribution.
(a) Required Beginning Date. The Member's entire interest will
be distributed, or begin to be distributed, to the Member no
later than the Member's Required Beginning Date.
(b) Death of Participant Before Distributions Begin. If the
Member dies before distributions begin, the Member's entire
interest will be distributed, or begin to be distributed, no
later than as follows:
(i) If the Member's surviving spouse is the Member's sole
Designated Beneficiary, then distributions to the surviving
spouse will begin by December 31 of the calendar year immediately
following the calendar year in which the Member died, or by
December 31 of the calendar year in which the Member would have
attained age 70 1/2, if later.
(ii) If the Member's surviving spouse is not the Member's sole
Designated Beneficiary, then distributions to the Designated
Beneficiary will begin by December 31 of the calendar year
immediately following the calendar year in which the Member died.
(iii) If there is no Designated Beneficiary as of
September 30 of the year following the year of the Member's
death, the Member's entire interest will be distributed by
December 31 of the calendar year containing the fifth anniversary
of the Member's death.
(iv) If the Member's surviving spouse is the Member's sole
Designated Beneficiary and the surviving spouse dies after the
Member but before distributions to the surviving spouse begin,
this Section 17.2(b)(iv), other than Section 17.2(b)(i), will
apply as if the surviving spouse were the Member.
For purposes of this Section 17.2(b) and
Section 17.4, unless Section 17.2(b)(iv) applies,
distributions are considered to begin on the Member's
Required Beginning Date. If Section 17.2(b)(iv)
applies, distributions are considered to begin on the
date distributions are required to begin to the
surviving spouse under Section 17.2(b)(i). If
distributions under an annuity purchased from an
insurance company irrevocably commence to the Member
before the Member's Required Beginning Date (or to the
Member's surviving spouse before the date distributions
are required to begin to the surviving spouse under
Section 17.2(b)(i)), the date distributions are
considered to begin is the date distributions actually
commence.
(c) Forms of Distribution. Unless the Member's interest is
distributed in the form of an annuity purchased from an insurance
company or in a single sum on or before the Required Beginning
Date, as of the first Distribution Calendar Year distributions
will be made in accordance with Sections 17.3 and 17.4. If the
Member's interest is distributed in the form of an annuity
purchased from an insurance company, distributions thereunder
will be made in accordance with the requirements of
section 401(a)(9) of the Code and the Treasury regulations.
17.3 Required Minimum Distributions During Participant's Lifetime.
(a) Amount of Required Minimum Distribution For Each
Distribution Calendar Year. During the Member's lifetime, the
minimum amount that will be distributed for each Distribution
Calendar Year is the lesser of:
(i) the quotient obtained by dividing the Participant's Account
Balance by the distribution period in the Uniform Lifetime Table
set forth in section 1.401(a)(9)-9 of the Treasury regulations,
using the Member's age as of the Member's birthday in the
Distribution Calendar Year; or
(ii) if the Member's sole Designated Beneficiary for the
Distribution Calendar Year is the Member's spouse, the quotient
obtained by dividing the Participant's Account Balance by the
number in the Joint and Last Survivor Table set forth in
section 1.401(a)(9)-9 of the Treasury regulations, using the
Member's and spouse's attained ages as of the Member's and
spouse's birthdays in the Distribution Calendar Year.
(b) Lifetime Required Minimum Distributions Continue Through
Year of Participant's Death. Required minimum distributions will
be determined under this Section 17.3 beginning with the first
Distribution Calendar Year and up to and including the
Distribution Calendar Year that includes the Member's date of
death.
17.4 Required Minimum Distributions After Participant's Death.
(a) Death On or After Date Distributions Begin.
(i) Participant Survived by Designated Beneficiary. If the
Member dies on or after the date distributions begin and there is
a Designated Beneficiary, the minimum amount that will be
distributed for each Distribution Calendar Year after the year of
the Member's death is the quotient obtained by dividing the
Participant's Account Balance by the longer of the remaining Life
Expectancy of the Member or the remaining Life Expectancy of the
Member's Designated Beneficiary, determined as follows:
(1) The Member's remaining Life Expectancy is calculated
using the age of the Member in the year of death, reduced
by one for each subsequent year.
(2) If the Member's surviving spouse is the Member's sole
Designated Beneficiary, the remaining Life Expectancy of the
surviving spouse is calculated for each Distribution Calendar
Year after the year of the Member's death using the surviving
spouse's age as of the spouse's birthday in that year. For
Distribution Calendar Years after the year of the surviving
spouse's death, the remaining Life Expectancy of the surviving
spouse is calculated using the age of the surviving spouse as
of the spouse's birthday in the calendar year of the spouse's
death, reduced by one for each subsequent calendar year.
(3) If the Member's surviving spouse is not the Member's
sole Designated Beneficiary, the Designated Beneficiary's
remaining Life Expectancy is calculated using the age of
the beneficiary in the year following the year of the
Member's death, reduced by one for each subsequent year.
(ii) No Designated Beneficiary. If the Member dies on or after
the date distributions begin and there is no Designated
Beneficiary as of September 30 of the year after the year of the
Member's death, the minimum amount that will be distributed for
each Distribution Calendar Year after the year of the Member's
death is the quotient obtained by dividing the Participant's
Account Balance by the Member's remaining Life Expectancy
calculated using the age of the Member in the year of death,
reduced by one for each subsequent year.
(b) Death Before Date Distributions Begin.
(i) Five-Year Default Rule. If the Member dies before the date
distributions begin, distribution of the Member's entire interest
will be completed by December 31 of the calendar year containing
the fifth anniversary of the Member's death.
(ii) Death of Surviving Spouse Before Distributions to Surviving
Spouse Are Required to Begin. If the Member dies before the date
distributions begin, the Member's surviving spouse is the
Member's sole Designated Beneficiary, and the surviving spouse
dies before distributions are required to begin to the surviving
spouse under Section 17.2(b)(i), this Section 17.4(b) will apply
as if the surviving spouse were the Member.
17.5 Definitions.
(a) Designated Beneficiary. The individual who is designated as
the beneficiary under Section 6.2 and is the designated
beneficiary under section 401(a)(9) of the Code and
section 1.401(a)(9)-1, Q&A-4, of the Treasury regulations.
(b) Distribution Calendar Year. A calendar year for which a
minimum distribution is required. For distributions beginning
before the Member's death, the first Distribution Calendar Year
is the calendar year immediately preceding the calendar year
which contains the Member's Required Beginning Date. For
distributions beginning after the Member's death, the first
Distribution Calendar Year is the calendar year in which
distributions are required to begin under Section 17.2(b). The
required minimum distribution for the Member's first Distribution
Calendar Year will be made on or before the Member's Required
Beginning Date. The required minimum distribution for other
Distribution Calendar Years, including the required minimum
distribution for the Distribution Calendar Year in which the
Member's Required Beginning Date occurs, will be made on or
before December 31 of that Distribution Calendar Year.
(c) Life Expectancy. Life expectancy as computed by use of the
Single Life Table in section 1.401(a)(9)-9 of the Treasury
regulations.
(d) Participant's Account Balance. The account balance as of
the last valuation date in the calendar year immediately
preceding the Distribution Calendar Year (valuation calendar
year) increased by the amount of any contributions made and
allocated or forfeitures allocated to the account balance as of
dates in the valuation calendar year after the valuation date and
decreased by distributions made in the valuation calendar year
after the valuation date. The account balance for the valuation
calendar year includes any amounts rolled over or transferred to
the Plan either in the valuation calendar year or in the
Distribution Calendar Year if distributed or transferred in the
valuation calendar year.
(e) Required Beginning Date. The date specified in
Section 6.13.
