EX-10.7.B 5 l99079aexv10w7wb.txt EX-10.7(B) AMENDMENT #2 OF 1999 CHANGE IN CONTROL EXHIBIT 10.7(b) AMENDMENT NO. 2 OF THE BELDEN & BLAKE CORPORATION 1999 CHANGE IN CONTROL PROTECTION PLAN FOR KEY EMPLOYEES AMENDED EFFECTIVE AUGUST 1, 2002 The Belden & Blake Corporation 1999 Change in Control Protection Plan for Key Employees (the "Plan"), originally effective August 1, 1999, is hereby amended, effective as of August 1, 2002, as follows: Section 5.1 of Article V of the Plan is amended in its entirety to read as follows: Duration. If a Change in Control has not occurred, the Plan shall expire five (5) years from the Effective Date unless extended for an additional period by resolution adopted by the Board in its discretion, at any time during the term of the Plan. If a Change of Control occurs during the term of this Plan, the Plan shall continue in full force and effect and shall not terminate or expire until after all Employees who become entitled to Severance Pay hereunder have received such Severance Pay in full. Except as expressly amended above, the provisions of the Plan shall continue in full force and effect. EXECUTION To record the adoption of this Amendment to the Plan, Belden & Blake Corporation has caused its appropriate officers to affix its name and seal hereto as of the 23rd day of October, 2002 ATTEST: BELDEN & BLAKE CORPORATION Duane D. Clark By: /s/ John L. Schwager --------------- --------------------------------- Duane D. Clark John L. Schwager Secretary Title: President and Chief Executive Officer