0000899243-03-000650 Sample Contracts

PLAINS EXPLORATION & PRODUCTION COMPANY RESTRICTED STOCK AWARD AGREEMENT
Restricted Stock Award Agreement • March 27th, 2003 • Plains Exploration & Production Co • Wholesale-petroleum & petroleum products (no bulk stations) • Delaware

This Restricted Stock Award Agreement (the “Agreement”), made as of the day of , 2003 (the “Grant Date”) by and between Plains Exploration & Production Company (the “Company”), and (the “Grantee”), evidences the grant by the Company of a stock award of restricted Shares (the “Award”) to the Grantee on such date and the Grantee’s acceptance of the Award in accordance with the provisions of the Plains Exploration & Production Company 2002 Stock Incentive Plan, as amended or restated from time to time (the “Plan”). The Company and the Grantee agree as follows:

Sample 1
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PLAINS EXPLORATION & PRODUCTION COMPANY FORM RESTRICTED STOCK UNIT AGREEMENT
Restricted Stock Unit Agreement • March 27th, 2003 • Plains Exploration & Production Co • Wholesale-petroleum & petroleum products (no bulk stations) • Delaware

This Restricted Stock Unit Agreement (the “Agreement”), made as of the day of , 2003 (the “Grant Date”) by and between Plains Exploration & Production Company (the “Company”), and (the “Grantee”), evidences the grant by the Company of restricted stock units (“Restricted Stock Units” or “Award”) to the Grantee on such date and the Grantee’s acceptance of the Award in accordance with the provisions of the Plains Exploration & Production Company 2002 Stock Incentive Plan, as amended or restated from time to time (the “Plan”). The Company and the Grantee agree as follows:

Sample 1
PLAINS EXPLORATION & PRODUCTION COMPANY STOCK APPRECIATION RIGHTS AGREEMENT
Stock Appreciation Rights Agreement • March 27th, 2003 • Plains Exploration & Production Co • Wholesale-petroleum & petroleum products (no bulk stations) • Delaware

This Stock Appreciation Rights Agreement (the “Agreement”), made as of the day of , 2003 (the “Grant Date”) by and between Plains Exploration & Production Company (the “Company”), and (the “Grantee”), evidences the grant by the Company of stock appreciation rights (“SARs” or “Award”) to the Grantee on such date and the Grantee’s acceptance of the Award in accordance with the provisions of the Plains Exploration & Production Company 2002 Stock Incentive Plan, as amended or restated from time to time (the “Plan”). The Company and the Grantee agree as follows:

Sample 1
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