SWN » Topics » Failure to Comply

These excerpts taken from the SWN 10-K filed Feb 26, 2009.

10.  Failure to Comply


In addition to the remedies of Southwestern elsewhere provided for herein, failure by a Participant to comply with any of the terms and conditions of the Plan or the agreement executed by such Participant evidencing a Performance Unit, unless such failure is remedied by such Participant within ten days after having been notified of such failure by the Plan Administrator, shall be grounds for the cancellation and forfeiture of such Performance Unit, in whole or in part, as the Plan Administrator may determine.


11.  Adjustment.

Upon the occurrence of any event which could reasonably be expected to have an impact on the stock or Performance Measures of the Company or its peer companies, the Plan Administrator shall have the right, but not the obligation, in its sole discretion, to make such adjustments to the calculations of the payments to be made hereunder as it deems appropriate to reflect such events, provided that no such adjustments shall reduce the Participant’s rights under any previously granted and outstanding Performance Units.


12.  No Effect on Benefit Plans.


No amounts payable hereunder shall count in computing any benefits payable under any other benefit plans maintained by the Company except to extent such plans otherwise incorporate such payments by express reference to the Plan.


10.
 Failure to Comply




In
addition to the remedies of Southwestern elsewhere provided for herein, failure
by a Participant to comply with any of the terms and conditions of the Plan or
the agreement executed by such Participant evidencing a Performance Unit, unless
such failure is remedied by such Participant within ten days after having been
notified of such failure by the Plan Administrator, shall be grounds for the
cancellation and forfeiture of such Performance Unit, in whole or in part, as
the Plan Administrator may determine.




style="MARGIN-TOP: 0px; FONT-SIZE: 12pt; MARGIN-BOTTOM: 16px; LINE-HEIGHT: 14pt">11.
 Adjustment.



Upon
the occurrence of any event which could reasonably be expected to have an impact
on the stock or Performance Measures of the Company or its peer companies, the
Plan Administrator shall have the right, but not the obligation, in its sole
discretion, to make such adjustments to the calculations of the payments to be
made hereunder as it deems appropriate to reflect such events, provided that no
such adjustments shall reduce the Participant’s rights under any previously
granted and outstanding Performance Units.




style="FONT-SIZE: 12pt; MARGIN: 0px; LINE-HEIGHT: 14pt; FONT-FAMILY: Times New Roman Bold"> 12.
 No Effect on Benefit Plans.
style="COLOR: #0000ff; FONT-FAMILY: Times New Roman">




No amounts payable
hereunder shall count in computing any benefits payable under any other benefit
plans maintained by the Company except to extent such plans otherwise
incorporate such payments by express reference to the Plan.




This excerpt taken from the SWN 8-K filed Dec 14, 2006.

Failure to Comply


In addition to the remedies of the Company elsewhere provided for herein or in the Plan, failure by the Participant (or beneficiary) to comply with any of the terms and conditions of the Plan or this agreement, unless such failure is remedied by the Participant (or beneficiary) within ten days after having been notified of such failure by the Committee, shall be grounds for the cancellation and forfeiture of the Incentive Award, in whole or in part as the Committee, in its absolute discretion, may determine.


These excerpts taken from the SWN 8-K filed Dec 13, 2005.

Failure to Comply


In addition to the remedies of the Company elsewhere provided for herein or in the Plan, failure by the Participant (or beneficiary) to comply with any of the terms and conditions of the Plan or this agreement, unless such failure is remedied by the Participant (or beneficiary) within ten days after having been notified of such failure by the Committee, shall be grounds for the cancellation and forfeiture of the Incentive Award, in whole or in part as the Committee, in its absolute discretion, may determine.


10.  Failure to Comply


In addition to the remedies of Southwestern elsewhere provided for herein, failure by a Participant to comply with any of the terms and conditions of the Plan or the agreement executed by such Participant evidencing a Performance Unit, unless such failure is remedied by such Participant within ten days after having been notified of such failure by the Plan Administrator, shall be grounds for the cancellation and forfeiture of such Performance Unit, in whole or in part, as the Plan Administrator may determine.


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