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EXHIBIT 10(d)
SEVERANCE COMPENSATION AGREEMENT
THIS AGREEMENT ("Agreement") is made and entered into as of
the date set forth below, by and between ENERGEN CORPORATION, an Alabama
corporation ("Energen"), and the Executive identified below ("the Executive").
Date: ,
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Executive:
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Factor: [150, 200, 300]%
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W I T N E S S E T H:
WHEREAS, Executive is an effective and valuable employee of
Energen and/or one or more of its subsidiaries;
WHEREAS, Executive desires certain assurances with respect to
any change in control of Energen;
WHEREAS, Energen recognizes that the uncertainties involved
in a potential or actual change in control of Energen could result in the
distraction or departure of management personnel such as Executive to the
detriment of Energen and its shareholders; and
WHEREAS, Energen desires to lessen the personal and economic
pressure which a potential or actual change in control may impose on Executive
and thereby facilitate Executive's ability to bargain successfully for the best
interests of Energen's shareholders in the event of such a change in control;
NOW, THEREFORE, in consideration of the premises and the
mutual agreements herein contained, Energen and Executive hereby agree as
follows:
Section 1. Definitions. As used in this Agreement the
following words and terms shall have the following meanings:
(a) "Applicable Period" means the period commencing with
the first to occur of (i) the earliest date that a Change in Control occurs or
(ii) Energen shareholder approval of a transaction which upon consummation will
constitute a Change in Control, and ending on the first to occur of (iii) the
last day of the thirty-sixth calendar month following the calendar month during
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which such Change in Control occurred or (iv) a determination by the Energen
Board of Directors that such Change in Control will not be consummated.
Anything in this Agreement to the contrary notwithstanding, if a Change in
Control occurs, and if the Date of Termination with respect to Executive's
employment with Energen occurs prior to the date on which the Change in Control
occurs, and if it is reasonably demonstrated by Executive that such termination
of employment (i) was at the request of a third party who has taken steps
reasonably calculated to effect the Change in Control or (ii) otherwise arose
in connection with or in anticipation of the Change in Control, then for all
purposes of this Agreement the "Applicable Period" shall be deemed to have
commenced on the date immediately preceding the Date of Termination.
(b) "Cause" Termination of employment by Employer for
"Cause" shall mean termination based on any of the following:
(1) The willful and continued failure by the
Executive to substantially perform Executive's duties with Employer (other than
any such failure resulting from Executive's incapacity due to physical or
mental illness) after a written demand for substantial performance is delivered
to Executive specifically identifying the manner in which Executive has not
substantially performed Executive's duties;
(2) The engaging by Executive in willful
misconduct which is demonstrably injurious to Employer monetarily or otherwise;
or
(3) The conviction of Executive of a felony.
(c) "Change in Control" means the occurrence of any one or
more of the following:
(1) The acquisition by any individual, entity or
group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act)
(a "Person") of beneficial ownership (within the meaning of Rule 13(d)-3
promulgated under the Exchange Act) of 25% or more of either (i) the then
outstanding shares of common stock of Energen (the "Outstanding Common Stock")
or (ii) the combined voting power of the then outstanding voting securities of
Energen entitled to vote generally in the election of directors (the
"Outstanding Voting Securities"); provided, however, that for purposes of this
subsection (1) any acquisition by an employee benefit plan (or related trust)
sponsored or maintained by Energen or any corporation controlled by Energen
shall not constitute a Change in Control;
(2) Individuals who, as of October 1, 1999,
constitute the Board of Directors of Energen (the "Incumbent Board") cease for
any reason to constitute at least a majority of the Board of Directors of
Energen (the "Board of Directors"); provided, however that any individual
becoming a director subsequent to such date whose election, or nomination for
election by Energen's shareholders, was approved by a vote of at least a
majority of the directors then
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comprising the Incumbent Board shall be considered as though such individual
were a member of the Incumbent Board, but excluding, for this purpose, any such
individual whose initial assumption of office occurs as a result of an actual
or threatened election contest with respect to the election or removal of
directors or other actual or threatened solicitation of proxies or consents by
or on behalf of a Person other than the Board of Directors;
(3) Consummation of a reorganization, merger or
consolidation, or sale or other disposition of all or substantially all of the
assets, of Energen (a "Business Combination"), in each case, unless, following
such Business Combination, (i) all or substantially all of the individuals and
entities who were the beneficial owners, respectively, of the Outstanding
Common Stock and Outstanding Voting Securities immediately prior to such
Business Combination beneficially own, directly or indirectly, more than 75%
of, respectively, the then outstanding shares of common stock and the combined
voting power of the then outstanding voting securities entitled to vote
generally in the election of directors, as the case may be, of the corporation
resulting from such Business Combination (including, without limitation, a
corporation which as a result of such transaction owns Energen or all or
substantially all of Energen's assets either directly or through one or more
subsidiaries) in substantially the same proportions as their ownership,
immediately prior to such Business Combination, of the Outstanding Common Stock
and Outstanding Voting Securities, as the case may be, (ii) no Person
(excluding any corporation resulting from such Business Combination or any
employee benefit plan (or related trust) of Energen or such corporation
resulting from such Business Combination) beneficially owns, directly or
indirectly, 25% or more of, respectively, the then outstanding shares of common
stock of the corporation resulting from such Business Combination or the
combined voting power of the then outstanding voting securities of such
corporation except to the extent that such ownership existed prior to the
Business Combination and (iii) at least a majority of the members of the board
of directors of the corporation resulting from such Business Combination were
members of the Incumbent Board at the time of the execution of the initial
agreement, or of the action of the Board of Directors, providing for such
Business Combination;
(4) Any transaction or series of transactions
which is expressly designated by resolution of the Board of Directors to
constitute a Change in Control for purposes of this Agreement.
(d) "Code" means the Internal Revenue Code of 1986, as the
same may be from time to time amended.
(e) "Compensation" means an amount equal to the sum of (A)
plus (B), where (A) is the Executive's annualized base salary in effect
immediately prior to the Measurement Event, and (B) is the highest annual bonus
awarded Executive by Employer pursuant to the Energen Annual Incentive
Compensation Plan (or any successor annual cash incentive plan) with respect to
the three (3) fiscal years immediately preceding the fiscal year in which the
Measurement Event occurs.
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Compensation shall be calculated without reduction for any amounts deferred by
the Executive pursuant to the Energen Corporation 1997 Deferred Compensation
Plan.
(f) "Date of Termination" means the date that a
termination of Executive's employment with Employer is first effective.
(g) "Disability" means the total and permanent disability
that entitles Executive to a disability benefit under a disability program
sponsored and/or maintained by Energen.
(h) "Employer" means Energen and its Subsidiaries.
(i) "Exchange Act" means the Securities Exchange Act of
1934, as amended.
(j) "Good Reason" means the occurrence during an
Applicable Period of any of the following events without Executive's prior
written consent:
(1) The assignment to Executive by Employer of
duties inconsistent with Executive's position, authority, duties,
responsibilities and status with Employer immediately prior to the Measurement
Event, or a change in Executive's titles or offices as in effect immediately
prior to the Measurement Event, or any removal of Executive from or any failure
to reelect Executive to any of such positions, if such assignment, change, or
removal results in a diminution in Executive's position, authority, duties,
responsibilities or status with Employer immediately prior to the Measurement
Event or any other action by Employer that results in such a diminution in
Executive's position, authority, duties, responsibilities or status [for CEO,
CFO and General Counsel(without limiting the generality of the foregoing, a
comparable position with an entity that does not have publicly traded voting
equity securities is such a diminution from a comparable position with a
publicly-traded entity)],
(2) A reduction in Executive's aggregate rate of
monthly base pay from the Employer;
(3) The termination or material adverse
modification of the Energen Annual Incentive Compensation Plan or the Energen
Corporation 1992 Long-Range Performance Share Plan (or any other short or
long-term incentive compensation plan in effect immediately prior to the
Measurement Event) without substitution of new short or long-term incentives
providing comparable compensation opportunities for Executive.
(4) A failure by Employer to use its best
efforts to provide Executive with either the same fringe benefits (including
retirement benefits and paid vacations) as were provided to Executive
immediately prior to the Measurement Event or a package of fringe benefits
that, though one or more of such benefits may vary from those in effect
immediately prior to the
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Measurement Event, is substantially comparable in all material respects to the
fringe benefits (taken as a whole) in effect prior to the Measurement Event;
(5) Executive's relocation by Employer to any
place more than 25 miles from the location at which Executive performed the
substantial portion of Executive's duties prior to the Measurement Event,
except for required travel by Executive on Employer's business to an extent
substantially consistent with Executive's business travel obligations
immediately prior to such Measurement Event;
(6) Any material breach by Energen of any
provision of this Agreement or any other agreement between Energen and
Executive which breach continues for a period of thirty days following delivery
by Executive to Energen of written notice of such breach.
(k) "Independent Auditor" means the firm of certified
public accountants that at the time of the Change in Control had been most
recently engaged by Energen to render an opinion on Energen's consolidated
financial statements, or any other firm of certified public accountants
mutually agreeable to Energen and Executive.
(l) "Measurement Event" means (i) the Change in Control if
the Date of Termination is on or after the date of the Change in Control or
(ii) commencement of the Applicable Period if the Date of Termination is prior
to the date of the Change in Control.
(m) "Notice of Termination" has the meaning set forth in
Section 2(a) of this Agreement.
(n) "Qualified Termination" shall mean
(1) during a Window Period, any termination
(including retirement) of Executive's employment, other than for Cause, death
or Disability, and
(2) during the Applicable Period but not during a
Window Period,
(i) a termination by Employer of
Executive's employment other than for Cause,
(ii) a termination of Executive's
employment which Executive and Energen agree in writing will constitute a
Qualified Termination for purposes of this Agreement, or
(iii) a voluntary termination of
Executive's employment by Executive for Good Reason.
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(o) "Subsidiary" means any corporation, the majority of
the outstanding voting stock of which is owned directly or indirectly, by
Energen.
(p) "Window Period" shall mean the 30-day period
immediately following the first anniversary of a Change in Control.
Section 2. Notice of Termination. During any Applicable Period:
(a) Any termination for Cause or Good Reason shall be
communicated to the other party by written notice ("Notice of Termination")
referencing this Agreement and, indicating in reasonable detail the facts and
circumstances providing a basis for such termination. The failure of Executive
or Employer to set forth in the Notice of Termination any fact or circumstance
which contributes to a showing of Cause or Good Reason shall not waive any
right of Executive or Energen hereunder or preclude Executive or Energen from
asserting or relying upon the omitted fact or circumstance in enforcing
Executive's or Energen's rights hereunder.
(b) Termination for Cause or Good Reason shall be
effective upon delivery of a Notice of Termination or at such later date as may
be specified in the Notice of Termination. In the event that each party
delivers a Notice of Termination, the Notice of Termination first delivered
shall establish the effective date of such Notice of Termination.
Section 3. Severance Payment. In the event of a Qualified
Termination, then Executive shall, subject to the provisions of Sections 5 and
8 hereof, receive as severance pay an amount equal to the Executive's
Compensation multiplied by the "Factor" specified at the beginning of this
Agreement. Subject to Section 5 hereof, any severance payment to be made under
this Section 3 shall be paid in one payment and in full on or prior to the
thirtieth day following the Date of Termination.
Section 4. Other Benefits. Subject to Sections 5 and 8 hereof, in
the event of a Qualified Termination, for a period of twenty-four months
commencing with the Date of Termination, Executive and the Executive's family
shall continue to be covered at the expense of Energen by the same or
substantially equivalent hospital, medical, dental, vision, accident,
disability and life insurance coverages as were provided to Executive and the
Executive's family by Employer immediately prior to the Measurement Event;
provided, however, that if Executive becomes employed with another employer and
is eligible to receive benefits of the type described above from such other
employer, Energen's obligation to provide continued coverage under this Section
4 and the continued benefits described herein shall be secondary to those
provided by such other employer. Except as may be otherwise agreed by the
Executive, all such coverages shall be provided under insured plans.
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Section 5. Certain Further Payments by the Company.
(a) In the event that any amount or benefit paid,
distributed or accrued to or by the Executive pursuant to any provision of this
Agreement, and/or any amounts or benefits otherwise paid, distributed or
accrued to or by the Executive by the Employer or any affiliated company
including, without limitation, any distribution, vesting or payment made
pursuant to the terms of the Employer's or an affiliated company's compensation
plans or arrangements (collectively, the "Covered Payments"), are or become
subject to the tax (the "Excise Tax") imposed under Section 4999 of the
Internal Revenue Code of 1986, as amended (the "Code"), or any similar tax that
may hereafter be imposed, Energen shall pay to the Executive at the time
specified in Section 5(d) below an additional amount (the "Tax Reimbursement
Payment") such that the net amount retained by the Executive with respect to
Covered Payments, after deduction of any Excise Tax on Covered Payments and any
Federal, state and local income or employment tax and Excise Tax on the Tax
Reimbursement Payment provided for by this Section 5(a), but before deduction
for any Federal, state or local income or employment tax withholding on Covered
Payments, shall be equal to the amount of the Covered Payments.
(b) For purposes of determining whether any of the Covered
Payments will be subject to the Excise Tax and the amount of such Excise Tax,
(i) such Covered Payments will be treated as
"parachute payments" within the meaning of Section 280G of the Code, and all
"parachute payments" in excess of the "base amount" (as defined under Section
280G(b)(3) of the Code) shall be treated as subject to the Excise Tax, unless,
and except to the extent that, in the good faith judgment of the Company's
Independent Auditor or tax counsel selected by the Independent Auditor, Energen
has a reasonable basis to conclude that such Covered Payments (in whole or in
part) either do not constitute "parachute payments" or represent reasonable
compensation for personal services actually rendered (within the meaning of
Section 280G(b)(4)(B) of the Code) in excess of the "base amount", or such
"parachute payments" are otherwise not subject to such Excise Tax, and
(ii) the value of any non-cash benefits or any
deferred payment or benefit shall be determined by the Independent Auditor in
accordance with the principles of Section 280G of the Code.
(c) For purposes of determining the amount of the Tax
Reimbursement Payment, the Executive shall be deemed to pay:
(i) Federal income taxes at the highest
applicable marginal rate of Federal income taxation for the calendar year in
which the Tax Reimbursement Payment is to be made, and
(ii) any applicable state and local income taxes
at the highest applicable marginal rate of taxation for the calendar year in
which the Tax Reimbursement Payment is to be
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made, net of the maximum reduction in Federal income taxes which could be
obtained from the deduction of such state or local taxes if paid in such year.
(d) The Tax Reimbursement Payment (or portion thereof)
provided for in Section 5(a) above shall be paid to the Executive not later
than ten business days following the payment of the Covered Payments; provided,
however, that if the amount of such Tax Reimbursement Payment (or portion
thereof) cannot be finally determined on or before the date on which payment is
due, Energen shall pay to the Executive by such date an amount estimated in
good faith by the Independent Auditors to be the minimum amount of such Tax
Reimbursement Payment and shall pay the remainder of such Tax Reimbursement
Payment (together with interest at the rate provided in Section 7872(f)(2)(A)
of the Code) as soon as the amount thereof can be determined, but in no event
later than 45 calendar days after payment of the related Covered Payment. In
the event that the amount of the estimated Tax Reimbursement Payment exceeds
the amount subsequently determined to have been due, such excess shall be
repaid by Executive in accordance with Section 5(f) below.
(e) In the event that the Excise Tax is subsequently
determined by the Independent Auditors or pursuant to any proceeding or
negotiations with the Internal Revenue Service to be less than the amount taken
into account hereunder in calculating the Tax Reimbursement Payment made, the
Executive shall repay to Energen, at the time that the amount of such reduction
in the Excise Tax is finally determined, the portion of such prior Tax
Reimbursement Payment that would not have been paid if such Excise Tax had been
applied in initially calculating such Tax Reimbursement Payment, plus interest
on the amount of such repayment at the rate provided in Section 7872(f)(2)(A)
of the Code. Notwithstanding the foregoing, in the event any portion of the Tax
Reimbursement Payment to be refunded to Energen has been paid or is payable to
any Federal, state or local tax authority, repayment thereof shall not be
required unless and until actual refund or credit of such portion has been made
to the Executive, and interest payable to Energen shall not exceed interest
received or credited to the Executive by such tax authority for the period it
held such portion. The Executive and Energen shall mutually agree upon the
course of action to be pursued in connection with a claim for refund or credit
by Executive.
(f) In the event that the Excise Tax is later determined
by the Accountants or pursuant to any proceeding or negotiations with the
Internal Revenue Service to exceed the amount taken into account hereunder at
the time the Tax Reimbursement Payment is made (including, but not limited to,
by reason of any payment the existence or amount of which cannot be determined
at the time of the Tax Reimbursement Payment), Energen shall make an additional
payment to Executive in an amount equal to (i) such excess Excise Tax, plus
(ii) any interest or penalty payable with respect to such excess Excise Tax
plus (iii) any Federal, state and local income or employment tax and Excise Tax
on all payments made under this Section 5(f), all such that Executive has no
adverse economic consequences as a result of such excess Excise Tax
determination.
Section 6. No Obligation To Seek Further Employment; No Effect on
Other Benefits.
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(a) Executive shall not be required to seek other
employment, nor (except as otherwise provided under Section 4 with respect to
insurance coverages) shall the amount of any severance payment or other benefit
to be made or provided under this Agreement be reduced by any compensation or
benefit earned by Executive as the result of employment by another employer
after the Date of Termination, or otherwise.
(b) Subject to Section 5 hereof, any severance payment or
benefit to be made or provided under this Agreement is in addition to all other
benefits, if any, to which Executive may be entitled under other agreements,
plans or programs of Energen.
Section 7. Continuing Obligations of Executive. As a result of
and in connection with Executive's employment by Employer, Executive is
involved in a number of matters of strategic importance and value to Employer
including various projects, proceedings, planning processes, and negotiations.
Any number of these matters may be ongoing and continuing after the Date of
Termination. In addition Employee is privy to proprietary and confidential
information of Employer including without limitation, financial information and
projections, business plans and strategies, customer and vendor lists and
information, and oil and gas properties and prospects. The Executive agrees as
follows:
(a) Consulting Services. For a period of three years
following the Date of Termination, Executive agrees to fully assist and
cooperate with Employer and its representatives (including outside auditors,
counsel and consultants) with respect to any matters with which the Executive
was involved during the course of employment with Employer, including being
available upon reasonable notice for interviews, consultation, and litigation
preparation. Except as otherwise agreed by Executive, Executive's obligation
under this Section 7 (a) shall not exceed 80 hours during the first year and 20
hours during each of the following two years. Such services shall be provided
upon request of Employer but scheduled to accommodate Executive's reasonable
scheduling requirements. Executive shall receive no additional fee for such
services but shall be reimbursed all reasonable out-of-pocket expenses.
(b) Non-Compete. For a period of twelve months following
the Date of Termination, the Executive shall not Compete, (as defined below )
or assist others in Competing with the Employer. For purposes of this
Agreement, "Compete" means (i) solicit in competition with Alabama Gas
Corporation ("Alagasco") any person or entity which was a customer of Alagasco
at the Date of Termination, (ii) offer to acquire any local gas distribution
system in the State of Alabama; or (iii) offer to acquire any coalbed methane
interest in the State of Alabama. Employment by, or an investment of less than
one percent of equity capital in, a person or entity which Competes with
Employer does not constitute Competition by Executive so long as Executive does
not directly participate in, assist or advise with respect to such Competition.
(c) Confidentiality. Executive agrees that at all times
following the Date of Termination, Executive will not, without the prior
written consent of Energen, disclose to any
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person, firm or corporation any confidential information of Employer which is
now known to Executive or which hereafter may become known to Executive as a
result of Executive's employment or association with Employer, unless such
disclosure is required under the terms of a valid and effective subpoena or
order issued by a court or governmental body; provided, however, that the
foregoing shall not apply to confidential information which becomes publicly
disseminated by means other than a breach of this Agreement.
Section 8. Officer/Board Resignation. Energen shall have no
obligation under Sections 3 and 4 hereof if Executive shall not, promptly after
the Date of Termination and upon receiving a written request to do so, resign
from each officer and/or director position which Executive then holds with
Energen and any Subsidiary.
Section 9. Payment of Professional Fees and Expenses. Energen
agrees to pay promptly as incurred, to the full extent permitted by law, all
legal, accounting and other professional fees and expenses (Professional Fees)
which Executive may reasonably incur (i) as a result of any contest (regardless
of the outcome thereof) by Energen, Executive or others of the validity or
enforceability of, or liability under, any provision of this Agreement or any
guarantee of performance thereof (including as a result of any contest by
Executive about the amount of any payment pursuant to this Agreement); (ii) as
a result of any contest by a taxing authority of Executive's tax treatment of
any amounts received under this or any other Employer agreement or plan to the
extent such tax treatment is consistent with the determinations made by the
Independent Auditor under Section 5; or (iii) the filing and pursuit of a claim
for refund or credit in connection with Section 5 (e) above; plus in each case
interest on any delayed payment at the applicable Federal rate provided for in
Section 7872(f)(2)(A) of the Code. In addition Energen shall promptly pay to
Executive an additional amount (the "Tax Coverage Payment") such that the net
amount retained by the Participant with respect to all payments made under this
Section 9 after deduction of Taxes, shall be equal to the amount of the
Professional Fees reimbursement plus applicable interest. For purposes of this
Section 9, "Taxes" means all federal, state and local, employment and income
taxes payable or withheld with respect to Professional Fees reimbursement
payments (excluding interest) and Tax Coverage Payments. The Independent
Auditor, at Energen's expense, shall make all calculations with respect to the
Tax Reimbursement Payment and in making such calculations shall follow the
assumptions set forth in Section 5(c) above.
Section 10. Term. This Agreement shall terminate (except to the
extent of any unpaid or unfulfilled obligation with respect to a prior
termination of Executive's employment) on the first to occur of (i) any
termination of Executive's employment with Employer which does not constitute a
Qualified Termination or (ii) expiration of the Term. The initial "Term" of
this Agreement shall be for a period of three years from the date hereof. On
each anniversary of the date hereof, the Term shall automatically extend by one
year unless at least thirty days prior to such an anniversary Energen notifies
Executive that there will be no such extension, in which event the term shall
continue until the later to occur of (i) two years from such anniversary or
(ii) three years from the date of the most recent Change in Control, if any.
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Section 11. Binding Effect; Successors.
(a) This Agreement shall be binding upon and inure to the
benefit of Executive and Executive's personal representative and heirs, and
Energen and its successors and assigns including any successor organization or
organizations which shall succeed to substantially all of the business and
property of Energen, whether by means of merger, consolidation, acquisition of
assets or otherwise, including operation of law. Energen will require any such
successor to expressly assume and agree to perform Energen's obligations under
this Agreement.
(b) Without the prior consent of Energen, Executive may
not assign the Agreement, except by will or the laws of descent and
distribution.
Section 12. Notice. For purposes of this Agreement, notices and
all other communications provided for in this Agreement shall be in writing and
shall be deemed to have been duly given when delivered or mailed by United
States registered mail, return receipt requested, postage prepaid, as follows:
If to Energen or Employer:
Energen Corporation
▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇
▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇
Attention: Chairman
If to Executive: The address for Executive in
the Employer's payroll records
or such other address as either party may have furnished to the other in
writing in accordance herewith, except that notices of change of address shall
be effective only upon receipt.
Section 13. Miscellaneous. No provisions of this Agreement may be
modified, waived or discharged unless such waiver, modification or discharge is
agreed to in writing signed by Executive and Energen. No waiver by either party
hereto at any time of any breach by the other party hereto of, or compliance
with, any condition or provision of this Agreement to be performed by such
other party shall be deemed a waiver of similar or dissimilar provisions or
conditions at the same or at any prior or subsequent time. No agreements or
representations, oral or otherwise, express or implied, with respect to the
subject matter hereof have been made by either party which are not set forth
expressly in this Agreement. This Agreement shall be governed by and construed
in accordance with the laws of the State of Alabama.
Section 14. Validity. The invalidity or unenforceability of any
provisions of this Agreement shall not affect the validity or enforceability of
any other provision of this Agreement, which shall remain in full force and
effect.
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Section 15. Counterparts. This Agreement may be executed in one or
more counterparts, each of which shall be deemed to be an original but all of
which together will constitute one and the same instrument.
Section 16. Amendment and Restatement of Prior Agreement. This
agreement constitutes a complete amendment and restatement and fully supersedes
that certain Severance Compensation Agreement between the parties dated
_________________, 19 .
IN WITNESS WHEREOF, the parties have executed this Agreement
as of the date first above written.
ENERGEN CORPORATION
By
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Its
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EXECUTIVE
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[Rev 10/99]
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