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DVN » Topics » Amending the New Long-Term Incentive Plan

This excerpt taken from the DVN DEF 14A filed Apr 24, 2009.
Amending the New Long-Term Incentive Plan
 
The Company’s Board of Directors may amend the new long-term incentive plan at any time. The Company’s Board of Directors may not, however, without Devon stockholder approval,
 
  •  adopt any amendment that would increase the maximum number of shares that may be granted under the 2009 plan (except for certain anti-dilution adjustments),
 
  •  materially modify the 2009 plan’s eligibility requirements, or
 
  •  materially increase the benefits provided to participants under the 2009 plan. Amendments to award agreements that would have the effect of repricing participants’ options are prohibited.
 
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