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EPL > SEC Filings for EPL > Form 8-K on 14-Nov-2008All Recent SEC Filings

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Form 8-K for ENERGY PARTNERS LTD


14-Nov-2008

Change in Directors or Principal Officers, Financial Statements and Exhibits


Item 5.02. Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e) On November 13, 2008, Energy Partners, Ltd. (the "Company") adopted amendments to certain of its plans and agreements designed to bring those documents into compliance with the new requirements relating to nonqualified deferred compensation set forth in Section 409A ("Section 409A") of the Internal Revenue Code of 1986, as amended. The First Amendment to Amended and Restated 2000 Long Term Stock Incentive Plan, Third Amendment to Change of Control Severance Plan, First Amendment to 2006 Long Term Stock Incentive Plan, First Amendment to Amended and Restated 2000 Stock Incentive Plan for Non-Employee Directors, First Amendment to Stock and Deferral Plan for Non-Employee Directors, and Amendment to Restricted Share Unit Agreements and Cash-Settled Restricted Share Unit Agreements are each attached hereto as Exhibits 10.1 through 10.6, respectively, and each is incorporated by reference herein.

On November 12, 2008, the Board of Directors of the Company also extended the termination date of the Change of Control Severance Agreements with Messrs. Bachmann, Peper, Leary and Longon from March 28, 2009 to March 28, 2010. The Form of Third Amendment to Change of Control Severance Agreement giving effect to that extension and bringing those agreements into compliance with the new requirements relating to nonqualified deferred compensation set forth in Section 409A is attached hereto as Exhibit 10.7 and is incorporated by reference herein.

On November 12, 2008, the Company also amended the definition of "Good Reason" in the Letter Agreement, dated as of November 29, 2007, with Thomas DeBrock, the Company's Senior Vice President of Exploration (the "Letter Agreement"), in order to conform the definition of "Good Reason" in the Letter Agreement to the definition of "Good Reason" in the Company's other benefit plans. The Amended Letter Agreement with Thomas DeBrock is attached hereto as Exhibit 10.8 and is incorporated by reference herein.



Item 9.01. Financial Statements and Exhibits.

Exhibits. The following exhibits are filed herewith:

Exhibit No. Description

             First Amendment to Amended and Restated 2000 Long Term Stock
10.1         Incentive Plan

10.2         Third Amendment to Change of Control Severance Plan

10.3         First Amendment to 2006 Long Term Stock Incentive Plan

             First Amendment to Amended and Restated 2000 Stock Incentive Plan
10.4         for Non-Employee Directors

             First Amendment to Stock and Deferral Plan for Non-Employee
10.5         Directors

             Amendment to Restricted Share Unit Agreements and Cash-Settled
10.6         Restricted Share Unit Agreements


10.7 Form of Third Amendment to Change of Control Severance Agreement

10.8 Amended Letter Agreement with Thomas DeBrock


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