This excerpt taken from the DVN DEF 14A filed Apr 24, 2009.
Purpose and Key Features of the Plan
The purpose of the 2009 plan is to create incentives designed to motivate selected employees to significantly contribute toward our growth and profitability. The shares under the 2009 plan will enable us to attract and retain experienced employees who, by their positions, abilities and diligence, are able to make important contributions to our success.
The plan is designed to provide flexibility to meet our needs over two to three years in a changing and competitive environment while attempting to minimize dilution to stockholders. We do not intend to use all incentive awards at all times for each participant but will selectively grant awards primarily to achieve long-term goals. Awards will
Commitment Runs Deep
be granted in such a way as to align the interests of participants with those of our stockholders. The plan is very similar to the 2005 plan with three exceptions:
Key features of the new long-term incentive plan include: