EXHIBIT 10.16
EXTENSION AGREEMENT TO AMENDED
AND RESTATED
EXECUTIVE EMPLOYMENT AGREEMENT
between James P. Ulm, II
(“Executive”) and
Pogo Producing Company, a
Delaware corporation (“Company”)
WHEREAS , Executive and Company are parties to an
“Amended and Restated Executive Employment Agreement”
bearing an original “Effective Date” of February 1,
2005; and
WHEREAS
, August 1,
2006 is hereby deemed
to be the “Renewal
Date” in that Amended and Restated Executive Employment
Agreement; and
WHEREAS
, Executive
and Company each wish to extend said Amended and Restated Executive
Employment Agreement for an additional one-year period so as to
terminate (unless further extended) two years thereafter, (to-wit
August 1, 2007); and
WHEREAS
, Company
desires to retain the services of Executive for the benefit of
Company and its shareholders, and desires to induce Executive to
remain in its employ for that extended time period; and
WHEREAS
, Executive
has agreed to continue to serve as an employee of Company for the
period specified herein from and after the date of this Extension
Agreement; and
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