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EXHIBIT 10.6
December 6, 1995
Xx. Xxxxxx X. X'Xxxxx
0000 Xxxxxxxxxx
Xxxxxxx, Xxxxx 00000
Dear Xxx:
Your Employment Agreement with Burlington Resources Inc. (the
"Company") is dated October 20, 1988 and was previously amended on February 22,
1989, December 6, 1991, December 8, 1993, and December 7, 1994. The
Employment Agreement, as previously amended, will be referred to herein as the
"Agreement". The Board of Directors of the Company (the "Board") has deemed it
advisable and in the best interests of the Company and its stockholders to
further amend the Agreement with respect to the matters addressed herein.
Accordingly, this letter, when accepted by you in the space provided below,
will amend the Agreement in the following particulars:
1. Employment and Term. The Company agrees to employ you and you
agree to act as its Chairman of the Board during the period commencing
December 6, 1995 and ending on December 15, 1998, unless sooner terminated by
death, permanent disability or the mutual agreement of the parties.
2. Base Compensation. Effective January 1, 1996, the
base compensation described in Section 2 of the Agreement will be $500,000
per annum.
This amendatory letter agreement shall be binding upon and inure to
the benefit of Xxxxxx X. X'Xxxxx and the Company and its successors and
assigns. The term "successor" shall include, without limitation, any
corporation which at any time, whether by merger, purchase or otherwise,
acquires all or substantially all of the assets or business of the Company. As
amended hereby, the Agreement shall remain in full force and effect in
accordance with its terms.
If this letter correctly sets forth our agreement with respect to the
subject matter hereof, please sign the original and return it to me. Please
retain a copy for your records.
Very truly yours,
BURLINGTON RESOURCES INC.
/s/ H. E. XXXXXXXXXX
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By Xxxxxx X. Xxxxxxxxxx
Its Vice President, Human Resources
ACCEPTED AND AGREED TO
this 18TH day of December, 1995
/s/ XXXXXX X. X'XXXXX
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Xxxxxx X. X'Xxxxx
