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<TITLE>Filed by Bowne Pure Compliance</TITLE>
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<P style="font-size: 14pt" align="center"><B>UNITED STATES<BR>
SECURITIES AND
EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P style="font-size: 18pt" align="center"><B>FORM 8-K</B>

<P style="font-size: 12pt" align="center"><B>CURRENT REPORT<BR>
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P style="font-size: 10pt" align="center"><B>Date of Report (Date of earliest
event reported): December 19, 2008</B>


<P style="font-size: 24pt" align="center"><B>Brigham Exploration
Company<BR>
</B><FONT style="font-size: 10pt">(Exact name of registrant as
specified in its charter) </FONT>
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  <TD width="32%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
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  <TD width="1%">&nbsp;</TD>
  <TD width="32%">&nbsp;</TD>
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  <TD style="border-bottom: #000000 1px solid"><B>Delaware</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>001-34224</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>75-2692967</B></TD>
 </TR>
 <TR valign="top">
  <TD>(State or other Jurisdiction of Incorporation)</TD>
  <TD>&nbsp;</TD>
  <TD>(Commission File Number)</TD>
  <TD>&nbsp;</TD>
  <TD>(IRS Employer Identification No.)</TD>
 </TR>

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cellpadding="0" width="100%" border="0">

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  <TD width="49%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="49%">&nbsp;</TD>
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  <TD style="border-bottom: #000000 1px solid"><B>6300 Bridgepoint
Parkway<BR>
Building Two, Suite 500<BR>
Austin, Texas<BR>
</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>78730</B></TD>
 </TR>
 <TR valign="top">
  <TD>(Address of Principal Executive Offices)</TD>
  <TD>&nbsp;</TD>
  <TD>(Zip Code)</TD>
 </TR>

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<P style="font-size: 10pt" align="center">Registrant&#8217;s telephone number,
including area code: <B>(512) 427-3300</B>
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  <TD style="border-bottom: #000000 1px solid" nowrap><B>&nbsp;</B></TD>
 </TR>
 <TR>
  <TD nowrap>(Former name or former address if changed since last report.)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="left">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:

<P style="font-size: 10pt" align="left"><FONT face="Wingdings">o</FONT> Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)<BR>
<BR>
<FONT face="Wingdings">o</FONT> Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<P style="font-size: 10pt" align="left"><B>Item&nbsp;5.02 Departure of
Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangement of Certain Officers</B>

<P style="font-size: 10pt" align="left"><B>5.02(e)</B>

<P style="font-size: 10pt" align="left"><B><I>Compensatory Arrangements</I></B>

<P style="font-size: 10pt; text-indent: 4%" align="left">During 2008, Brigham
Exploration Company, a Delaware corporation (the &#8220;Company&#8221;),
undertook a review of its deferred compensation plans for compliance with
Internal Revenue Code Section&nbsp;409A (&#8220;Section&nbsp;409A&#8221;),
which was created as a result of the American Jobs Creation Act of 2004. The
Company has amended certain of its plans and compensatory arrangements, as
described below, as necessary to meet the requirements of Section&nbsp;409A.
These amendments affect various participants in the plans and arrangements,
including each of the Company&#8217;s named executive officers listed in the
Company&#8217;s proxy statement for its 2008 Annual Meeting of Stockholders:
Ben M. Brigham (Chief Executive Officer, President, and Chairman of the Board),
Eugene B. Shepherd, Jr. (Executive Vice President and Chief Financial Officer),
Jeffrey E. Larson (Executive Vice President &#8211; Exploration), David T.
Brigham (Executive Vice President &#8211; Land and Administration), and A.
Lance Langford (Executive Vice President &#8211; Operations).

<P style="font-size: 10pt; text-indent: 4%" align="left"><I>1997 Incentive
Plan. </I>The Company is authorized to make awards of restricted stock
(&#8220;Restricted Stock&#8221;), non-qualified stock options (&#8220;NQ
Options&#8221;), incentive stock options (&#8220;ISOs) and stock appreciation
rights pursuant to an incentive plan, first established in 1997 and amended in
2004 (the &#8220;1997 Incentive Plan&#8221;). Effective December&nbsp;19, 2008,
the Board of Directors approved amendments clarifying the application of
Section&nbsp;409A which were set out in an amended and restated 1997 Incentive
Plan. These amendments:

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  <TD width="1%">&nbsp;</TD>
  <TD>clarify the definition of &#8220;Fair Market Value&#8221; to comply with
Section&nbsp;409A and to reflect the fact that the Nasdaq Stock Market is now a
national securities exchange;</TD>
 </TR>

</TABLE>


<P>
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border="0">

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  <TD>provide that employees of subsidiaries not in the same controlled group
with the Company may only participate in the 1997 Incentive Plan if the
subsidiary for which they are performing services adopts the 1997 Incentive
Plan; and</TD>
 </TR>

</TABLE>


<P>
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border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
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width="2%">&nbsp;</TD>
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  <TD width="1%">&nbsp;</TD>
  <TD>clarify the circumstances under which ISOs, NQ Options and stock
appreciation rights may be granted in accordance with Section&nbsp;409A.</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt; text-indent: 4%" align="left">In addition to the
above Section&nbsp;409A related amendments, an additional amendment allows for
transferability of a NQ Option to certain immediate family members or related
entities of a participant in the 1997 Incentive Plan with the consent of the
Board of Directors.

<P style="font-size: 10pt; text-indent: 4%" align="left">In addition to the
amendments described above, the amended and restated 1997 Incentive Plan
reflects a previous amendment regarding the maximum number of shares available
under the 1997 Incentive Plan, which amendment was previously approved by
stockholders at the June&nbsp;3, 2004 Annual Meeting of Stockholders.

<P style="font-size: 10pt" align="center">2

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">2
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<P style="font-size: 10pt; text-indent: 4%" align="left">The foregoing
description of the amendments to the 1997 Incentive Plan does not purport to be
complete and is qualified in its entirety by reference to the full 1997
Incentive Plan, as amended, which is filed as Exhibit&nbsp;10.44 to this Form
8-K.

<P style="font-size: 10pt; text-indent: 4%" align="left"><I>Restricted Stock
Agreement. </I>Effective December&nbsp;19, 2008, the Board of Directors also
approved amendments to the form of Restricted Stock Agreement
(&#8220;Restricted Stock Agreement&#8221;) pursuant to which awards of
Restricted Stock are made under the 1997 Incentive Plan, including awards made
to the named executive officers. The Restricted Stock Agreement was amended to
comply with Section&nbsp;409A, and such amendments:

<P>
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valign="top">
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width="2%">&nbsp;</TD>
  <TD nowrap align="left" width="3%">&#8226;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD>provide for immediate vesting of unvested shares of Restricted Stock in
the event of a participant&#8217;s involuntary termination in connection with a
Fundamental Change (as defined in the Restricted Stock Agreement); and</TD>
 </TR>

</TABLE>


<P>
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border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
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width="2%">&nbsp;</TD>
  <TD nowrap align="left" width="3%">&#8226;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD>provide that no dividends or distributions will be payable on such
immediately vested shares of Restricted Stock in the event of a
participant&#8217;s involuntary termination in connection with a Fundamental
Change.</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt; text-indent: 4%" align="left">Each of the named
executive officers has entered into an amendment to his existing Restricted
Stock Agreements which reflects the amendments made to the form of Restricted
Stock Agreement. The foregoing description of the amendments does not purport
to be complete and is qualified in its entirety by reference to the full form
of Restricted Stock Agreement, as amended, which is filed as Exhibit&nbsp;10.45
to this Form 8-K.

<P style="font-size: 10pt; text-indent: 4%" align="left"><I>Option Agreement
(Non-Qualified Stock Option). </I>Effective December&nbsp;19, 2008, the Board
of Directors also approved amendments to the form of option agreement for NQ
Options (&#8220;Option Agreement (Non-Qualified Stock Option)&#8221;) pursuant
to which awards of NQ Options are made under the 1997 Incentive Plan, including
awards made to the named executive officers. The Option Agreement
(Non-Qualified Stock Option) was amended to clarify the application of
Section&nbsp;409A, and such amendments:

<P>
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border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
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width="2%">&nbsp;</TD>
  <TD nowrap align="left" width="3%">&#8226;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD>provide that the exercise price of a NQ Option may not be less than 100%
of the Fair Market Value of a share of Common Stock as of the date of grant;
and</TD>
 </TR>

</TABLE>


<P>
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border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
  <TD style="background: none transparent scroll repeat 0% 0%"
width="2%">&nbsp;</TD>
  <TD nowrap align="left" width="3%">&#8226;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD>provide for limitations on the extensions of the exercise of NQ
Options.</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt; text-indent: 4%" align="left">In addition to the
above Section&nbsp;409A related amendments, an additional amendment allows for
transferability of a NQ Option in accordance with the 1997 Incentive Plan.

<P style="font-size: 10pt; text-indent: 4%" align="left">The foregoing
description of the amendments does not purport to be complete and is qualified
in its entirety by reference to the full form of Option Agreement
(Non-Qualified Stock Option), as amended, which is filed as Exhibit 10.46 to
this Form 8-K.

<P style="font-size: 10pt; text-indent: 4%" align="left"><I>Option Agreement
(Incentive Option</I><U>)</U><I>. </I>Effective December&nbsp;19, 2008, the
Board of Directors also approved amendments to the form of option agreement for
ISOs (&#8220;Option Agreement (Incentive Option)&#8221;) pursuant to which
awards of ISOs are made under the 1997

<P style="font-size: 10pt" align="center">3

<P style="font-size: 10pt" align="center">&nbsp;

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<P style="font-size: 10pt" align="left">Incentive Plan, including awards made
to the named executive officers. The Option Agreement (Incentive Option) was
amended to clarify the application of Internal Revenue Code Section&nbsp;422,
and such amendments:

<P>
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border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
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width="2%">&nbsp;</TD>
  <TD nowrap align="left" width="3%">&#8226;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD>provide that the exercise price of an ISO may not be less than 100% of
the Fair Market Value of a share of Common Stock as of the date of grant, and
not less than 110% of the Fair Market Value if the optionee is a 10%
shareholder; and</TD>
 </TR>

</TABLE>


<P>
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border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
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width="2%">&nbsp;</TD>
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  <TD>provide certain timeframes within which an ISO may be exercised after
termination of employment.</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt; text-indent: 4%" align="left">The foregoing
description of the amendments does not purport to be complete and is qualified
in its entirety by reference to the full form of Option Agreement (Incentive
Option), which is filed as Exhibit&nbsp;10.47 to this Form 8-K.

<P style="font-size: 10pt; text-indent: 4%" align="left"><I>1997 Director Stock
Option Plan. </I>The Company is authorized to make awards of NQ Options to
directors pursuant to the 1997 Director Stock Option Plan, first established in
1997 and amended in 2007 (&#8220;1997 Director Stock Option Plan&#8221;).
Effective December&nbsp;19, 2008, the Board of Directors approved amendments
clarifying the application of Section&nbsp;409A which were set out in an
amended and restated 1997 Director Stock Option Plan. These amendments:

<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
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width="2%">&nbsp;</TD>
  <TD nowrap align="left" width="3%">&#8226;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD>clarify the definition of &#8220;Fair Market Value&#8221; to comply with
Section&nbsp;409A and to reflect the fact that the Nasdaq Stock Market is now a
national securities exchange; and</TD>
 </TR>

</TABLE>


<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
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width="2%">&nbsp;</TD>
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  <TD width="1%">&nbsp;</TD>
  <TD>require adjustments made to NQ Options upon certain changes to the Common
Stock to be made in accordance with Section&nbsp;409A.</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt; text-indent: 4%" align="left">In addition to the
above Section&nbsp;409A related amendments, the amended and restated 1997
Director Stock Option Plan reflects a previous amendment regarding the
extension of the termination date of the 1997 Director Stock Option Plan to
March&nbsp;4, 2017, which amendment was previously approved by stockholders at
the May&nbsp;31, 2007 Annual Meeting of Stockholders.

<P style="font-size: 10pt; text-indent: 4%" align="left">The foregoing
description of the amendments to the 1997 Director Stock Option Plan does not
purport to be complete and is qualified in its entirety by reference to the
full 1997 Director Stock Option Plan, which is filed as Exhibit 10.48 to this
Form 8-K.

<P style="font-size: 10pt; text-indent: 4%" align="left"><I>Non-Qualified Stock
Option Agreement</I>. Effective December&nbsp;19, 2008, the Board of Directors
also approved amendments to the form of option agreement for NQ Options
(&#8220;Nonqualified Stock Option Agreement&#8221;) pursuant to which NQ
Options are granted to Directors, pursuant to the 1997 Director Stock Option
Plan. The Nonqualified Stock Option Agreement was amended to clarify the
application of Section&nbsp;409A and such amendment:

<P>
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border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
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width="2%">&nbsp;</TD>
  <TD nowrap align="left" width="3%">&#8226;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD>provides that the exercise price for NQ Options is equal to 100% of the
Fair Market Value of a share of Common Stock as of the date of grant.</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="center">4

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">4
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<P style="font-size: 10pt; text-indent: 4%" align="left">In addition to the
above Section&nbsp;409A related amendment, additional amendments allow for
transferability of a Director NQ Option with the consent of the Board of
Directors and allows for exercise by transferees with the consent of the Board
of Directors, and clarifies that exercises of NQ Options upon certain
terminations of service cannot extend beyond the option period.

<P style="font-size: 10pt; text-indent: 4%" align="left">The foregoing
description of the amendments does not purport to be complete and is qualified
in its entirety by reference to the full form of Nonqualified Stock Option
Agreement, which is filed as Exhibit&nbsp;10.49 to this Form 8-K.

<P style="font-size: 10pt; text-indent: 4%" align="left"><I>Change of Control
Agreement. </I>The Company has entered into a Change of Control Agreement
(&#8220;Change of Control Agreement&#8221;) with certain named executive
officers including Eugene B. Shepherd, Jr. (Executive Vice President and Chief
Financial Officer), Jeffrey E. Larson (Executive Vice President &#8211;
Exploration), David T. Brigham (Executive Vice President &#8211; Land and
Administration), and A. Lance Langford (Executive Vice President &#8211;
Operations) and certain other employees and may enter into Change of Control
Agreements with certain other persons from time to time providing for certain
compensatory arrangements upon the occurrence of a Change of Control of the
Company (as defined in the Change of Control Agreement). Effective
December&nbsp;19, 2008, the Board approved amendments to the form of Change of
Control Agreement to comply with Section&nbsp;409A and such amendments:

<P>
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border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
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width="2%">&nbsp;</TD>
  <TD nowrap align="left" width="3%">&#8226;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD>revise the timing of certain severance payments to be exempt from the
provisions of Section&nbsp;409A;</TD>
 </TR>

</TABLE>


<P>
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border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
  <TD style="background: none transparent scroll repeat 0% 0%"
width="2%">&nbsp;</TD>
  <TD nowrap align="left" width="3%">&#8226;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD>provide participants who are participating in Company-maintained
hospital, surgical, medical, or dental benefit plans with continuation of such
benefits on the same terms as similarly-situated current employees until the
date the participant obtains other employment, provided that such coverage is
nontaxable to the participant or is otherwise exempt from
Section&nbsp;409A;</TD>
 </TR>

</TABLE>


<P>
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border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
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  <TD width="1%">&nbsp;</TD>
  <TD>limit the payment of legal fees to five years and provide that payment of
such fees be made in accordance with Section&nbsp;409A;</TD>
 </TR>

</TABLE>


<P>
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border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
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width="2%">&nbsp;</TD>
  <TD nowrap align="left" width="3%">&#8226;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD>clarify that vesting of unvested options in the event of a Change of
Control shall be automatic;</TD>
 </TR>

</TABLE>


<P>
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border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
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width="2%">&nbsp;</TD>
  <TD nowrap align="left" width="3%">&#8226;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD>amend the definition of &#8220;Good Reason&#8221; to provide that the
participant must notify the Company of a claim that Good Reason exists within
certain time limitations in order to comply with Section&nbsp;409A and to make
certain other conforming changes;</TD>
 </TR>

</TABLE>


<P>
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border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
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width="2%">&nbsp;</TD>
  <TD nowrap align="left" width="3%">&#8226;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD>provide for an ordering rule for purposes of Golden Parachute Payments
under Internal Revenue Code Sections 280G and 4999; and</TD>
 </TR>

</TABLE>


<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
  <TD style="background: none transparent scroll repeat 0% 0%"
width="2%">&nbsp;</TD>
  <TD nowrap align="left" width="3%">&#8226;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD>add a six-month delay rule if a participant is considered to be a
Specified Employee entitled to receive a severance payment on account of a
Separation from Service (as those terms are defined in Section&nbsp;409A).</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="center">5

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">5
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV
style="margin-left: 0.25in; width: 7.2in; font-family: 'Times New Roman',Times,serif">

<P style="font-size: 10pt; text-indent: 4%" align="left">Each of the named
executive officers who are party to a Change of Control Agreement has entered
into an amendment to his existing Change of Control Agreements which reflects
the amendments made to the form of Change of Control Agreement. The foregoing
description of the amendments does not purport to be complete and is qualified
in its entirety by reference to the full form of Amendment to the Change of
Control Agreement, which is filed as Exhibit&nbsp;10.50 to this Form 8-K.

<P style="font-size: 10pt; text-indent: 4%" align="left"><I>Employment
Agreement. </I>The Company has entered into an Employment Agreement
(&#8220;Employment Agreement&#8221;) with Ben M. Brigham, its Chief Executive
Officer, President and Chairman of the Board. Effective December&nbsp;19, 2008,
the Board of Directors approved an Amendment to the Employment Agreement to
comply with Section&nbsp;409A which amendment was entered into by the Company
and Mr.&nbsp;Brigham on December&nbsp;23, 2008. Such amendment:

<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
  <TD style="background: none transparent scroll repeat 0% 0%"
width="2%">&nbsp;</TD>
  <TD nowrap align="left" width="3%">&#8226;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD>requires that any bonus be paid no later than March&nbsp;15 following the
year in which the bonus is no longer subject to a Substantial Risk of
Forfeiture (as such term is defined in Section&nbsp;409A);</TD>
 </TR>

</TABLE>


<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
  <TD style="background: none transparent scroll repeat 0% 0%"
width="2%">&nbsp;</TD>
  <TD nowrap align="left" width="3%">&#8226;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD>requires that reimbursements of business expenses be paid no later than
March&nbsp;15 after the end of the calendar year in which the business expenses
are incurred;</TD>
 </TR>

</TABLE>


<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
  <TD style="background: none transparent scroll repeat 0% 0%"
width="2%">&nbsp;</TD>
  <TD nowrap align="left" width="3%">&#8226;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD>amends the definition of Good Reason to provide that Mr.&nbsp;Brigham
must notify the Company of a claim that Good Reason exists within certain time
limitations in order to comply with Section&nbsp;409A and to make certain other
conforming changes;</TD>
 </TR>

</TABLE>


<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
  <TD style="background: none transparent scroll repeat 0% 0%"
width="2%">&nbsp;</TD>
  <TD nowrap align="left" width="3%">&#8226;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD>requires that the lump sum severance payments will be made upon a
termination of employment which constitutes a Separation of Service (as such
term is defined by Section&nbsp;409A);</TD>
 </TR>

</TABLE>


<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
  <TD style="background: none transparent scroll repeat 0% 0%"
width="2%">&nbsp;</TD>
  <TD nowrap align="left" width="3%">&#8226;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD>provides that Mr.&nbsp;Brigham will be entitled to continuation of
benefits under Company-maintained hospital, surgical, medical, or dental
benefit plans on the same terms as similarly-situated current employees,
provided that such coverage is nontaxable to Mr.&nbsp;Brigham or is otherwise
exempt from Section&nbsp;409A; and</TD>
 </TR>

</TABLE>


<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
  <TD style="background: none transparent scroll repeat 0% 0%"
width="2%">&nbsp;</TD>
  <TD nowrap align="left" width="3%">&#8226;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD>adds a six-month delay rule if Mr.&nbsp;Brigham is considered to be a
Specified Employee entitled to receive a severance payment on account of a
Separation from Service (as such terms are defined by Section&nbsp;409A).</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt; text-indent: 4%" align="left">The foregoing
description of the amendments does not purport to be complete and is qualified
in its entirety by reference to the full Amendment to the Employment Agreement,
which is filed as Exhibit&nbsp;10.51 to this Form 8-K.

<P style="font-size: 10pt" align="center">6

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">6
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV
style="margin-left: 0.25in; width: 7.2in; font-family: 'Times New Roman',Times,serif">

<P style="font-size: 10pt" align="left"><B>Item&nbsp;9.01 Financial Statements
and Exhibits.</B>

<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
  <TD width="5%">&nbsp;</TD>
  <TD style="background: none transparent scroll repeat 0% 0%"
width="3%">(d)</TD>
  <TD nowrap align="left" width="8%">Exhibit&nbsp;10.44</TD>
  <TD width="3%">&nbsp;</TD>
  <TD>1997 Incentive Plan of Brigham Exploration Company (as
amended effective January 1, 2009)</TD>
 </TR>

</TABLE>


<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
  <TD style="background: none transparent scroll repeat 0% 0%"
width="8%">&nbsp;</TD>
  <TD nowrap align="left" width="8%">Exhibit&nbsp;10.45</TD>
  <TD width="3%">&nbsp;</TD>
  <TD>Form of Restricted Stock Agreement under the 1997
Incentive Plan of Brigham Exploration Company</TD>
 </TR>

</TABLE>


<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
  <TD style="background: none transparent scroll repeat 0% 0%"
width="8%">&nbsp;</TD>
  <TD nowrap align="left" width="8%">Exhibit&nbsp;10.46</TD>
  <TD width="3%">&nbsp;</TD>
  <TD>Form of Option Agreement (Non-Qualified Stock Option)
under the 1997 Incentive Plan of Brigham Exploration Company</TD>
 </TR>

</TABLE>


<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
  <TD style="background: none transparent scroll repeat 0% 0%"
width="8%">&nbsp;</TD>
  <TD nowrap align="left" width="8%">Exhibit&nbsp;10.47</TD>
  <TD width="3%">&nbsp;</TD>
  <TD>Form of Option Agreement (Incentive Option) under the
1997 Incentive Plan of Brigham Exploration Company</TD>
 </TR>

</TABLE>


<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
  <TD style="background: none transparent scroll repeat 0% 0%"
width="8%">&nbsp;</TD>
  <TD nowrap align="left" width="8%">Exhibit&nbsp;10.48</TD>
  <TD width="3%">&nbsp;</TD>
  <TD>Brigham Exploration Company 1997 Director Stock Option
Plan (as amended effective January&nbsp;1, 2009)</TD>
 </TR>

</TABLE>


<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
  <TD style="background: none transparent scroll repeat 0% 0%"
width="8%">&nbsp;</TD>
  <TD nowrap align="left" width="8%">Exhibit&nbsp;10.49</TD>
  <TD width="3%">&nbsp;</TD>
  <TD> Form of Non-Qualified Stock Option Agreement under the
1997 Director Stock Option Plan</TD>
 </TR>

</TABLE>


<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
  <TD style="background: none transparent scroll repeat 0% 0%"
width="8%">&nbsp;</TD>
  <TD nowrap align="left" width="8%">Exhibit&nbsp;10.50</TD>
  <TD width="3%">&nbsp;</TD>
  <TD> Form of Amendment to the Change of Control
Agreement</TD>
 </TR>

</TABLE>


<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
  <TD style="background: none transparent scroll repeat 0% 0%"
width="8%">&nbsp;</TD>
  <TD nowrap align="left" width="8%">Exhibit&nbsp;10.51</TD>
  <TD width="3%">&nbsp;</TD>
  <TD> Amendment to the Employment Agreement between the
Company and Ben M. Brigham dated as of December&nbsp;23, 2008</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="center">7

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">7
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV
style="margin-left: 0.25in; width: 7.2in; font-family: 'Times New Roman',Times,serif">

<P style="font-size: 10pt" align="center"><B>SIGNATURE</B>

<P style="font-size: 10pt; text-indent: 4%" align="left">Pursuant to the
requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned thereunto duly
authorized.

<P style="font-size: 10pt; margin-left: 53%" align="left"><B>BRIGHAM
EXPLORATION COMPANY</B>

<P style="font-size: 10pt" align="left">Date: December&nbsp;29, 2008
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">
<!-- Begin Table Head -->

 <TR valign="bottom">
  <TD width="50%">&nbsp;</TD>
  <TD width="2%">&nbsp;</TD>
  <TD width="3%">&nbsp;</TD>
  <TD width="40%">&nbsp;</TD>
 </TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
 <TR valign="bottom">
  <TD>&nbsp;</TD>
  <TD valign="top">
<DIV style="margin-left: 0px; text-indent: 0px"><B>By:</B>&nbsp;</DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">/s/ DAVID T. BRIGHAM</TD>
 </TR>
 <TR style="font-size: 1px">
  <TD>&nbsp;</TD>
  <TD valign="top">
<DIV style="margin-left: 0px; text-indent: 0px">&nbsp;</DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD style="border-top: #000000 1px solid" valign="top"
align="left">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD>&nbsp;</TD>
  <TD valign="top">
<DIV style="margin-left: 0px; text-indent: 0px">&nbsp;</DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">David T. Brigham</TD>
 </TR>
 <TR style="font-size: 1px">
  <TD>&nbsp;</TD>
  <TD valign="top">
<DIV style="margin-left: 0px; text-indent: 0px">&nbsp;</DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD style="border-top: #000000 1px solid" valign="top"
align="left">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD>&nbsp;</TD>
  <TD valign="top">
<DIV style="margin-left: 0px; text-indent: 0px">&nbsp;</DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">Executive Vice President &#8211;Land and
Administration</TD>
 </TR>
<!-- End Table Body -->

</TABLE>
</DIV>

<P style="font-size: 10pt" align="center">&nbsp;

<P style="font-size: 10pt" align="center">8

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">8
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV
style="margin-left: 0.25in; width: 7.2in; font-family: 'Times New Roman',Times,serif">

<P style="font-size: 10pt" align="center"><B>INDEX TO EXHIBITS</B>


<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
  <TD nowrap align="left" width="8%"><U>Item&nbsp;Number</U></TD>
  <TD width="5%">&nbsp;</TD>
  <TD><U>Exhibit</U> </TD>
 </TR>

</TABLE>


<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
  <TD nowrap align="left" width="8%">10.44</TD>
  <TD width="5%">&nbsp;</TD>
  <TD>1997 Incentive Plan of Brigham Exploration Company (as amended effective
January&nbsp;1, 2009)</TD>
 </TR>

</TABLE>


<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
  <TD nowrap align="left" width="8%">10.45</TD>
  <TD width="5%">&nbsp;</TD>
  <TD>Form of Restricted Stock Agreement under the 1997 Incentive Plan of
Brigham Exploration Company</TD>
 </TR>

</TABLE>


<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
  <TD nowrap align="left" width="8%">10.46</TD>
  <TD width="5%">&nbsp;</TD>
  <TD>Form of Option Agreement (Non-Qualified Stock Option) under the 1997
Incentive Plan of Brigham Exploration Company</TD>
 </TR>

</TABLE>


<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
  <TD nowrap align="left" width="8%">10.47</TD>
  <TD width="5%">&nbsp;</TD>
  <TD>Form of Option Agreement (Incentive Option) under the 1997 Incentive Plan
of Brigham Exploration Company</TD>
 </TR>

</TABLE>


<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
  <TD nowrap align="left" width="8%">10.48</TD>
  <TD width="5%">&nbsp;</TD>
  <TD>Brigham Exploration Company 1997 Director Stock Option Plan (as amended
effective January&nbsp;1, 2009)</TD>
 </TR>

</TABLE>


<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
  <TD nowrap align="left" width="8%">10.49</TD>
  <TD width="5%">&nbsp;</TD>
  <TD>Form of Non-Qualified Stock Option Agreement under the 1997 Director
Stock Option Plan</TD>
 </TR>

</TABLE>


<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
  <TD nowrap align="left" width="8%">10.50</TD>
  <TD width="5%">&nbsp;</TD>
  <TD>Form of Amendment to the Change of Control Agreement</TD>
 </TR>

</TABLE>


<P>
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">

 <TR
style="font-size: 10pt; background: none transparent scroll repeat 0% 0%; color: #000000"
valign="top">
  <TD nowrap align="left" width="8%">10.51</TD>
  <TD width="5%">&nbsp;</TD>
  <TD>Amendment to the Employment Agreement between the Company and Ben M.
Brigham dated as of December&nbsp;23, 2008</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">9
</DIV>
</BODY>
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Filed by Bowne Pure Compliance
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest
event reported): December 19, 2008
Brigham Exploration
Company
(Exact name of registrant as
specified in its charter)
Delaware
001-34224
75-2692967
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
6300 Bridgepoint
Parkway
Building Two, Suite 500
Austin, Texas
78730
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number,
including area code:
(512) 427-3300
(Former name or former address if changed since last report.)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of
Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangement of Certain Officers
5.02(e)
Compensatory Arrangements
During 2008, Brigham
Exploration Company, a Delaware corporation (the "Company"),
undertook a review of its deferred compensation plans for compliance with
Internal Revenue Code Section 409A ("Section 409A"),
which was created as a result of the American Jobs Creation Act of 2004. The
Company has amended certain of its plans and compensatory arrangements, as
described below, as necessary to meet the requirements of Section 409A.
These amendments affect various participants in the plans and arrangements,
including each of the Company's named executive officers listed in the
Company's proxy statement for its 2008 Annual Meeting of Stockholders:
Ben M. Brigham (Chief Executive Officer, President, and Chairman of the Board),
Eugene B. Shepherd, Jr. (Executive Vice President and Chief Financial Officer),
Jeffrey E. Larson (Executive Vice President – Exploration), David T.
Brigham (Executive Vice President – Land and Administration), and A.
Lance Langford (Executive Vice President – Operations).
1997 Incentive
Plan.
The Company is authorized to make awards of restricted stock
("Restricted Stock"), non-qualified stock options ("NQ
Options"), incentive stock options ("ISOs) and stock appreciation
rights pursuant to an incentive plan, first established in 1997 and amended in
2004 (the "1997 Incentive Plan"). Effective December 19, 2008,
the Board of Directors approved amendments clarifying the application of
Section 409A which were set out in an amended and restated 1997 Incentive
Plan. These amendments:
•
clarify the definition of "Fair Market Value" to comply with
Section 409A and to reflect the fact that the Nasdaq Stock Market is now a
national securities exchange;
•
provide that employees of subsidiaries not in the same controlled group
with the Company may only participate in the 1997 Incentive Plan if the
subsidiary for which they are performing services adopts the 1997 Incentive
Plan; and
•
clarify the circumstances under which ISOs, NQ Options and stock
appreciation rights may be granted in accordance with Section 409A.
In addition to the
above Section 409A related amendments, an additional amendment allows for
transferability of a NQ Option to certain immediate family members or related
entities of a participant in the 1997 Incentive Plan with the consent of the
Board of Directors.
In addition to the
amendments described above, the amended and restated 1997 Incentive Plan
reflects a previous amendment regarding the maximum number of shares available
under the 1997 Incentive Plan, which amendment was previously approved by
stockholders at the June 3, 2004 Annual Meeting of Stockholders.
2
The foregoing
description of the amendments to the 1997 Incentive Plan does not purport to be
complete and is qualified in its entirety by reference to the full 1997
Incentive Plan, as amended, which is filed as Exhibit 10.44 to this Form
8-K.
Restricted Stock
Agreement.
Effective December 19, 2008, the Board of Directors also
approved amendments to the form of Restricted Stock Agreement
("Restricted Stock Agreement") pursuant to which awards of
Restricted Stock are made under the 1997 Incentive Plan, including awards made
to the named executive officers. The Restricted Stock Agreement was amended to
comply with Section 409A, and such amendments:
•
provide for immediate vesting of unvested shares of Restricted Stock in
the event of a participant's involuntary termination in connection with a
Fundamental Change (as defined in the Restricted Stock Agreement); and
•
provide that no dividends or distributions will be payable on such
immediately vested shares of Restricted Stock in the event of a
participant's involuntary termination in connection with a Fundamental
Change.
Each of the named
executive officers has entered into an amendment to his existing Restricted
Stock Agreements which reflects the amendments made to the form of Restricted
Stock Agreement. The foregoing description of the amendments does not purport
to be complete and is qualified in its entirety by reference to the full form
of Restricted Stock Agreement, as amended, which is filed as Exhibit 10.45
to this Form 8-K.
Option Agreement
(Non-Qualified Stock Option).
Effective December 19, 2008, the Board
of Directors also approved amendments to the form of option agreement for NQ
Options ("Option Agreement (Non-Qualified Stock Option)") pursuant
to which awards of NQ Options are made under the 1997 Incentive Plan, including
awards made to the named executive officers. The Option Agreement
(Non-Qualified Stock Option) was amended to clarify the application of
Section 409A, and such amendments:
•
provide that the exercise price of a NQ Option may not be less than 100%
of the Fair Market Value of a share of Common Stock as of the date of grant;
and
•
provide for limitations on the extensions of the exercise of NQ
Options.
In addition to the
above Section 409A related amendments, an additional amendment allows for
transferability of a NQ Option in accordance with the 1997 Incentive Plan.
The foregoing
description of the amendments does not purport to be complete and is qualified
in its entirety by reference to the full form of Option Agreement
(Non-Qualified Stock Option), as amended, which is filed as Exhibit 10.46 to
this Form 8-K.
Option Agreement
(Incentive Option
)
.
Effective December 19, 2008, the
Board of Directors also approved amendments to the form of option agreement for
ISOs ("Option Agreement (Incentive Option)") pursuant to which
awards of ISOs are made under the 1997
3
Incentive Plan, including awards made
to the named executive officers. The Option Agreement (Incentive Option) was
amended to clarify the application of Internal Revenue Code Section 422,
and such amendments:
•
provide that the exercise price of an ISO may not be less than 100% of
the Fair Market Value of a share of Common Stock as of the date of grant, and
not less than 110% of the Fair Market Value if the optionee is a 10%
shareholder; and
•
provide certain timeframes within which an ISO may be exercised after
termination of employment.
The foregoing
description of the amendments does not purport to be complete and is qualified
in its entirety by reference to the full form of Option Agreement (Incentive
Option), which is filed as Exhibit 10.47 to this Form 8-K.
1997 Director Stock
Option Plan.
The Company is authorized to make awards of NQ Options to
directors pursuant to the 1997 Director Stock Option Plan, first established in
1997 and amended in 2007 ("1997 Director Stock Option Plan").
Effective December 19, 2008, the Board of Directors approved amendments
clarifying the application of Section 409A which were set out in an
amended and restated 1997 Director Stock Option Plan. These amendments:
•
clarify the definition of "Fair Market Value" to comply with
Section 409A and to reflect the fact that the Nasdaq Stock Market is now a
national securities exchange; and
•
require adjustments made to NQ Options upon certain changes to the Common
Stock to be made in accordance with Section 409A.
In addition to the
above Section 409A related amendments, the amended and restated 1997
Director Stock Option Plan reflects a previous amendment regarding the
extension of the termination date of the 1997 Director Stock Option Plan to
March 4, 2017, which amendment was previously approved by stockholders at
the May 31, 2007 Annual Meeting of Stockholders.
The foregoing
description of the amendments to the 1997 Director Stock Option Plan does not
purport to be complete and is qualified in its entirety by reference to the
full 1997 Director Stock Option Plan, which is filed as Exhibit 10.48 to this
Form 8-K.
Non-Qualified Stock
Option Agreement
. Effective December 19, 2008, the Board of Directors
also approved amendments to the form of option agreement for NQ Options
("Nonqualified Stock Option Agreement") pursuant to which NQ
Options are granted to Directors, pursuant to the 1997 Director Stock Option
Plan. The Nonqualified Stock Option Agreement was amended to clarify the
application of Section 409A and such amendment:
•
provides that the exercise price for NQ Options is equal to 100% of the
Fair Market Value of a share of Common Stock as of the date of grant.
4
In addition to the
above Section 409A related amendment, additional amendments allow for
transferability of a Director NQ Option with the consent of the Board of
Directors and allows for exercise by transferees with the consent of the Board
of Directors, and clarifies that exercises of NQ Options upon certain
terminations of service cannot extend beyond the option period.
The foregoing
description of the amendments does not purport to be complete and is qualified
in its entirety by reference to the full form of Nonqualified Stock Option
Agreement, which is filed as Exhibit 10.49 to this Form 8-K.
Change of Control
Agreement.
The Company has entered into a Change of Control Agreement
("Change of Control Agreement") with certain named executive
officers including Eugene B. Shepherd, Jr. (Executive Vice President and Chief
Financial Officer), Jeffrey E. Larson (Executive Vice President –
Exploration), David T. Brigham (Executive Vice President – Land and
Administration), and A. Lance Langford (Executive Vice President –
Operations) and certain other employees and may enter into Change of Control
Agreements with certain other persons from time to time providing for certain
compensatory arrangements upon the occurrence of a Change of Control of the
Company (as defined in the Change of Control Agreement). Effective
December 19, 2008, the Board approved amendments to the form of Change of
Control Agreement to comply with Section 409A and such amendments:
•
revise the timing of certain severance payments to be exempt from the
provisions of Section 409A;
•
provide participants who are participating in Company-maintained
hospital, surgical, medical, or dental benefit plans with continuation of such
benefits on the same terms as similarly-situated current employees until the
date the participant obtains other employment, provided that such coverage is
nontaxable to the participant or is otherwise exempt from
Section 409A;
•
limit the payment of legal fees to five years and provide that payment of
such fees be made in accordance with Section 409A;
•
clarify that vesting of unvested options in the event of a Change of
Control shall be automatic;
•
amend the definition of "Good Reason" to provide that the
participant must notify the Company of a claim that Good Reason exists within
certain time limitations in order to comply with Section 409A and to make
certain other conforming changes;
•
provide for an ordering rule for purposes of Golden Parachute Payments
under Internal Revenue Code Sections 280G and 4999; and
•
add a six-month delay rule if a participant is considered to be a
Specified Employee entitled to receive a severance payment on account of a
Separation from Service (as those terms are defined in Section 409A).
5
Each of the named
executive officers who are party to a Change of Control Agreement has entered
into an amendment to his existing Change of Control Agreements which reflects
the amendments made to the form of Change of Control Agreement. The foregoing
description of the amendments does not purport to be complete and is qualified
in its entirety by reference to the full form of Amendment to the Change of
Control Agreement, which is filed as Exhibit 10.50 to this Form 8-K.
Employment
Agreement.
The Company has entered into an Employment Agreement
("Employment Agreement") with Ben M. Brigham, its Chief Executive
Officer, President and Chairman of the Board. Effective December 19, 2008,
the Board of Directors approved an Amendment to the Employment Agreement to
comply with Section 409A which amendment was entered into by the Company
and Mr. Brigham on December 23, 2008. Such amendment:
•
requires that any bonus be paid no later than March 15 following the
year in which the bonus is no longer subject to a Substantial Risk of
Forfeiture (as such term is defined in Section 409A);
•
requires that reimbursements of business expenses be paid no later than
March 15 after the end of the calendar year in which the business expenses
are incurred;
•
amends the definition of Good Reason to provide that Mr. Brigham
must notify the Company of a claim that Good Reason exists within certain time
limitations in order to comply with Section 409A and to make certain other
conforming changes;
•
requires that the lump sum severance payments will be made upon a
termination of employment which constitutes a Separation of Service (as such
term is defined by Section 409A);
•
provides that Mr. Brigham will be entitled to continuation of
benefits under Company-maintained hospital, surgical, medical, or dental
benefit plans on the same terms as similarly-situated current employees,
provided that such coverage is nontaxable to Mr. Brigham or is otherwise
exempt from Section 409A; and
•
adds a six-month delay rule if Mr. Brigham is considered to be a
Specified Employee entitled to receive a severance payment on account of a
Separation from Service (as such terms are defined by Section 409A).
The foregoing
description of the amendments does not purport to be complete and is qualified
in its entirety by reference to the full Amendment to the Employment Agreement,
which is filed as Exhibit 10.51 to this Form 8-K.
6
Item 9.01 Financial Statements
and Exhibits.
(d)
Exhibit 10.44
1997 Incentive Plan of Brigham Exploration Company (as
amended effective January 1, 2009)
Exhibit 10.45
Form of Restricted Stock Agreement under the 1997
Incentive Plan of Brigham Exploration Company
Exhibit 10.46
Form of Option Agreement (Non-Qualified Stock Option)
under the 1997 Incentive Plan of Brigham Exploration Company
Exhibit 10.47
Form of Option Agreement (Incentive Option) under the
1997 Incentive Plan of Brigham Exploration Company
Exhibit 10.48
Brigham Exploration Company 1997 Director Stock Option
Plan (as amended effective January 1, 2009)
Exhibit 10.49
Form of Non-Qualified Stock Option Agreement under the
1997 Director Stock Option Plan
Exhibit 10.50
Form of Amendment to the Change of Control
Agreement
Exhibit 10.51
Amendment to the Employment Agreement between the
Company and Ben M. Brigham dated as of December 23, 2008
7
SIGNATURE
Pursuant to the
requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned thereunto duly
authorized.
BRIGHAM
EXPLORATION COMPANY
Date: December 29, 2008
By:
/s/ DAVID T. BRIGHAM
David T. Brigham
Executive Vice President –Land and
Administration
8
INDEX TO EXHIBITS
Item Number
Exhibit
10.44
1997 Incentive Plan of Brigham Exploration Company (as amended effective
January 1, 2009)
10.45
Form of Restricted Stock Agreement under the 1997 Incentive Plan of
Brigham Exploration Company
10.46
Form of Option Agreement (Non-Qualified Stock Option) under the 1997
Incentive Plan of Brigham Exploration Company
10.47
Form of Option Agreement (Incentive Option) under the 1997 Incentive Plan
of Brigham Exploration Company
10.48
Brigham Exploration Company 1997 Director Stock Option Plan (as amended
effective January 1, 2009)
10.49
Form of Non-Qualified Stock Option Agreement under the 1997 Director
Stock Option Plan
10.50
Form of Amendment to the Change of Control Agreement
10.51
Amendment to the Employment Agreement between the Company and Ben M.
Brigham dated as of December 23, 2008