0001193125-11-044429 Sample Contracts

PLAINS EXPLORATION & PRODUCTION COMPANY RESTRICTED STOCK UNIT AGREEMENT [With Employment Agreement]
Restricted Stock Unit Agreement • February 24th, 2011 • Plains Exploration & Production Co • Crude petroleum & natural gas • Delaware

This Restricted Stock Unit Agreement (the “Agreement”), made as of the day of , 20 (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 2010 Incentive Award Plan, as amended or restated from time to time (the “Plan”). The Company and the Grantee agree as follows:

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PLAINS EXPLORATION & PRODUCTION COMPANY STOCK APPRECIATION RIGHTS AGREEMENT
Stock Appreciation Rights Agreement • February 24th, 2011 • Plains Exploration & Production Co • Crude petroleum & natural gas • Delaware

THIS GRANT is made as of (the “Grant Date”), by Plains Exploration & Production Company, a Delaware corporation (the “Company”), to (the “Grantee”).

Sample 1
RESTRICTED STOCK UNIT AGREEMENT
Restricted Stock Unit Agreement • February 24th, 2011 • Plains Exploration & Production Co • Crude petroleum & natural gas

This Agreement (“Agreement”) is entered into effective as of November 4, 2010 (the “Effective Date”), by and between Plains Exploration & Production Company, a Delaware corporation (the “Company”), and James C. Flores (“Employee”).

Sample 1
PLAINS EXPLORATION & PRODUCTION COMPANY RESTRICTED STOCK AWARD FOR DIRECTORS
Restricted Stock Award for Directors • February 24th, 2011 • Plains Exploration & Production Co • Crude petroleum & natural gas • Delaware

This Restricted Stock Award made as of the day of , 20 (the “Grant Date”), by and between Plains Exploration & Production Company (the “Company”), to (the “Grantee”), evidences the grant by the Company of a stock award of restricted shares to the Grantee on such date (the “Award”) and the Grantee’s acceptance of the Award in accordance with the provisions of the Plains Exploration & Production Company 2010 Incentive Award 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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