FORM OF CASH RETENTION AWARD AGREEMENTEmployee Retention Agreement |
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Exhibit 10.26
MARATHON OIL CORPORATION
CASH RETENTION AWARD AGREEMENT
July 1, 2005
Pursuant
to this Award Agreement, MARATHON OIL CORPORATION (the
“Corporation”) hereby grants to [NAME] (the
“Participant”), an employee of the Corporation or an Affiliate, on {DATE}
(the “Grant Date”), a cash retention award
(“Award”) of $[AMOUNT]. The Award is subject to the
following terms and conditions:
1. Definitions.
For purposes of this Award Agreement:
“Affiliate”
means (a) any corporation of which the Corporation directly or
indirectly owns shares representing 50% or more of the combined voting power of
the shares of all classes or series of capital stock of such corporation which
have the right to vote generally on matters submitted to a vote of the
stockholders of such corporation or (b) any joint venture or partnership
in which the Corporation has at least 50% ownership, voting, capital or profit
interests (in whatever form).
“Change
in Control” shall have the same meaning as that set forth in the
Marathon Oil Corporation 2003 Incentive Compensation Plan.
