EX-4.7 2 d56895exv4w7.htm AMENDMENT NO. 3 TO THE LONG-TERM INCENTIVE PLAN exv4w7
EXHIBIT 4.7
AMENDMENT NO. 3
TO THE
TOREADOR RESOURCES CORPORATION
2005 LONG-TERM INCENTIVE PLAN
     TOREADOR RESOURCES CORPORATION, a Delaware corporation (the “Company”), pursuant to the authority granted in Article 9 of the Toreador Resources Corporation 2005 Long-Term Incentive Plan (the “Plan”), hereby amends the Plan, effective as of May 15, 2008 and subject to the approval of the requisite vote of the stockholders of the Company, to (i) increase the number of shares of Common Stock that are subject to the Plan, (ii) increase the number of shares that may be issued as “Incentive Stock Options” (as defined in the Plan) and (iii) increase the number of shares of Common Stock relating to “Awards” (as defined in the Plan) that may be granted to an “Executive Officer” (as defined in the Plan) during any calendar year.
     1. Effective as of May 15, 2008, the first two sentences of Section 5.1 are hereby amended by deleting said sentences in their entirety and substituting in lieu thereof the following:
Subject to adjustment as provided in Articles 11 and 12 of the Plan, the maximum number of shares of Common Stock that may be delivered pursuant to Awards under the Plan is 1,750,000 shares, 100% of which may be delivered pursuant to Incentive Stock Options. Subject to adjustment pursuant to Articles 11 and 12, no Executive Officer may receive in any calendar year (i) Stock Options or SARs relating to more than 150,000 shares of Common Stock, or (ii) Restricted Stock, Restricted Stock Units, Performance Awards or Other Awards that are subject to the attainment of Performance Goals relating to more than 150,000 shares of Common Stock; provided, however, that all such Awards to any Executive Officer during any calendar year shall not exceed an aggregate of more than 300,000 shares of Common Stock.
     2. Except as amended hereby, the Plan, as previously amended, shall remain in full effect.
     IN WITNESS WHEREOF, the Plan is amended effective as of the dates set forth above.
         
  TOREADOR RESOURCES CORPORATION
 		  
  By:   /s/ Nigel J. Lovett    
    Name:   Nigel J. Lovett   
    Title:   President and Chief Executive Officer