BAKER HUGHES INC
FORM OF RESTRICTED STOCK AWARD RESOLUTION
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<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>h14683exv10w3.htm
<DESCRIPTION>FORM OF RESTRICTED STOCK AWARD RESOLUTION
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<P align="right" style="font-size: 10pt">Exhibit&nbsp;10.3



<P align="center" style="font-size: 10pt"><B>Form of Restricted Stock Award</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RESOLVED,
that the Company issue to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;restricted shares of the Common Stock of the Company,
$1.00 par value per share (the &#147;Restricted Shares&#148;) under the
Company&#146;s 2002 Director &#038; Officer Long-Term Incentive, all of
which shares are to vest on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in the year &nbsp;&nbsp;&nbsp;, subject
to continued employment with the Company;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RESOLVED FURTHER, that if
&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;does not remain
employed by the Company other than by death or disability, the
Restricted Shares shall be forfeited to the Company to become
treasury shares of the Company;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RESOLVED
FURTHER, that in the event&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;does not
remain employed by the Company due to his disability, all
Restricted Shares shall immediately vest;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RESOLVED FURTHER, that upon the death of the employee
while in active service, all Restricted Shares shall
immediately vest with the estate of the deceased being the
beneficiary;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RESOLVED FURTHER, that pending vesting of the Restricted
Shares, &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shall be entitled to dividends paid with
respect to the Restricted Shares;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RESOLVED FURTHER, that the Restricted Shares shall be
issued pursuant to the 2002 Director &#038; Officer Long Term
Incentive Plan of the Company and are subject to and governed
by the additional terms and conditions of that Plan, including
(without limitation) the change of control provisions of
Section&nbsp;16 of the Plan;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RESOLVED FURTHER, that when the Restricted Shares are
issued and delivered to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, they shall be fully paid
and non-assessable and subject to the conditions described
above;



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