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HELIX ENERGY SOLUTIONS GROUP,
INC.
2009 Long-Term Incentive Cash
Plan
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[Name]
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[$Amount]
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5 years
beginning on the Grant Date
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,
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The Compensation Committee (the “
Committee ”) of the Board of Directors of Helix Energy
Solutions Group, Inc., a Minnesota corporation (the “
Company ”), hereby awards to you, effective as of the
Grant Date set forth above, the opportunity to earn a long-term
cash incentive award for the award term set forth above (the
“Award Term”) under the 2009 Long-Term Incentive Cash
Plan (the “Plan”).
1. Grant of Award. The Company
hereby grants to the Award Recipient a cash payment opportunity
(the “Award”) based upon the Target Award listed above
(the “Target Award”), on the terms and conditions
hereinafter set forth. This grant is made pursuant to the terms of
the Plan, which Plan, as amended from time to time, is incorporated
herein by reference and made a part of this Award Letter.
Capitalized terms not otherwise defined herein shall have the same
meaning as in the Plan.
2. Award Periods. The Award
Recipient shall receive an Award based upon the Target Award in
accordance with the following schedule, provided that your
employment with the Company has not terminated prior to the
applicable vesting date:
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Vesting Date
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Percentage of Target
Award
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First Anniversary of Grant
Date
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20% of Target Award
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Second Anniversary of Grant
Date
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Additional 20% of Target
Award
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Third Anniversary of Grant
Date
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Additional 20% of Target
Award
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Fourth Anniversary of Grant
Date
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Additional 20% of Target
Award
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Fifth Anniversary of Grant
Date
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Additional 20% of Target
Award
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Occurrence of a Change in
Control
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100% of Target Award (or
remaining
portion thereof)
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3. Amount of Award. Upon each
Vesting Date, the Company shall make a cash payment to you in an
amount equal
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