SWIFT ENERGY COMPANY
2016 EQUITY INCENTIVE PLAN
[FORM OF] RESTRICTED STOCK UNIT AGREEMENT
NON-EMPLOYEE DIRECTOR 2016 GRANT

* * * * *

Participant:    

Grant Date:    [●]

Number of Restricted Stock Units: [●]

* * * * *

THIS RESTRICTED STOCK UNIT AWARD AGREEMENT - NON-EMPLOYEE DIRECTOR 2016 GRANT
(this “Agreement”), dated as of the Grant Date specified above, is entered into
by and between Swift Energy Company, a Delaware corporation (the “Company”), and
the Participant specified above, a non-employee Director of the Board, pursuant
to the Swift Energy Company 2016 Equity Incentive Plan (the “Plan”), which is
administered by the Committee; and

WHEREAS, it has been determined under the Plan that it would be in the best
interests of the Company to grant the Restricted Stock Units (“RSUs”) provided
herein to the Participant.
NOW, THEREFORE, in consideration of the mutual covenants and promises
hereinafter set forth and for other good and valuable consideration, the parties
hereto hereby mutually covenant and agree as follows:
1.    Incorporation By Reference; Plan Document Receipt. This Agreement is
subject in all respects to the terms and provisions of the Plan (including,
without limitation, any amendments thereto adopted at any time and from time to
time unless such amendments are expressly intended not to apply to the grant of
the RSUs hereunder), all of which terms and provisions are made a part of and
incorporated in this Agreement as if they were each expressly set forth herein.
Any capitalized term not defined in this Agreement shall have the same meaning
as is ascribed thereto in the Plan. The Participant hereby acknowledges receipt
of a true copy of the Plan and that the Participant has read the Plan carefully
and fully understands its contents. In the event of any conflict between the
terms of this Agreement and the terms of the Plan, the terms of the Plan shall
control.

(a)    “Cause” means, with respect to the Participant’s Termination from and
after the date hereof, the following: (i) commission of fraud or material
dishonesty in performance of Participant’s duties against the Company, its
Subsidiaries, Affiliates; (ii) conviction of, or plea of guilty or nolo
contendere to, a felony; (iii) a malfeasance or misconduct by Participant in
performance of Participant’s service or any wrongful act or omission (other than
in the good faith performance of duties) that is materially injurious to the
financial condition or business reputation of the Company; (iv) a material
breach of a confidentiality covenant that is not cured within thirty (30) days
following a notice from the Company; (v) a material breach of a
non-disparagement covenant that is not cured within thirty (30) days

 
 

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following a notice from the Company; (vi) Participant’s breach of a non-compete
or non-solicitation covenant to which the Participant is subject; or (vii) a
material breach or a material violation of the Company’s code of conduct or any
other material policy; and

(b)    “CIC Severance Protection Period” means the time period commencing six
(6) months prior to the occurrence of a Change in Control and continuing until
the 12-month anniversary of such Change in Control.

2.    Grant of Restricted Stock Unit Award. The Company hereby grants to the
Participant, as of the Grant Date specified above, the number of RSUs specified
above. Except as otherwise provided by the Plan, the Participant agrees and
understands that nothing contained in this Agreement provides, or is intended to
provide, the Participant with any protection against potential future dilution
of the Participant’s interest in the Company for any reason. The Participant
shall have no rights as a stockholder with respect to any of the Shares
underlying this Award unless and until such Shares are delivered to the
Participant in accordance with Section 4.

3.    Vesting.

(a)    General. Except as otherwise provided in this Section 3, RSUs subject to
this grant shall vest as follows, provided that the Participant is continuously
serving as a Director, 100% on the first anniversary of the Grant Date specified
above.

(b)    Committee Discretion to Accelerate Vesting. Notwithstanding the
foregoing, the Committee may, in its sole discretion, provide for accelerated
vesting of the RSUs at any time and for any reason.

(c)    Termination by Reason of Death or Disability. If the Participant’s
Termination is by reason of death or Disability, all RSUs that are held by such
Participant at the time of the Participant’s Termination that have not otherwise
vested shall be immediately fully vested as of the date of such Termination.

(d)    Termination of Service other than for Cause. If a Participant’s
Termination is pursuant to Section 4 of Article V of the Certificate of
Incorporation of the Company or Section 2.2(d) of the Director Nomination
Agreement made and entered into as of April 22, 2016 by and among the Company
and certain parties identified therein, in either case, for a reason other than
Cause (as defined herein), all RSUs that are held by such Participant at the
time of the Participant’s Termination that have not otherwise vested shall be
immediately fully vested as of the date of such Termination.

(e)    Change in Control. If the Participant’s Termination is by the Company
other than for Cause (as such term is defined herein) during the CIC Severance
Protection Period (as such term is defined herein), the RSUs shall become fully
vested upon the later of the occurrence of a Change in Control or such
Termination.

(f)    Other Terminations. Except as set forth above, all unvested RSUs that are
held by a Participant shall immediately terminate and be forfeited upon a
Termination.

 
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4.    Delivery of Shares.
  
(a)    Except as provided in Section 4(b) or 4(c), the Company shall deliver to
the Participant the Shares underlying the outstanding RSUs within thirty (30)
days following the date such RSUs vest. In no event shall a Participant be
entitled to receive any Shares with respect to any unvested or forfeited portion
of the RSUs.

(b)    If the RSUs become nonforfeitable (i) by reason of the occurrence of a
Change in Control as described in Section 3(e) and if the Change in Control does
not constitute a change in control event for purposes of Section
409A(a)(2)(A)(v) of the Code, or (ii) by reason of a termination of the
Participant’s service, and if such termination does not constitute a “separation
from service” for purposes of Section 409A(a)(2)(A)(i) of the Code, then payment
for the RSUs will be made upon the earliest of the date of (A) the Participant’s
“separation from service” with the Company and its Subsidiaries (determined in
accordance with Section 409A(a)(2)(A)(i) of the Code), (B) within thirty (30)
days following the date the RSUs would have become nonforfeitable under Section
4(a) had the Participant remained in continuous service, (C) the Participant’s
death, (D) the occurrence of a Change in Control that constitutes a “change in
control” for purposes of Section 409A(a)(2)(A)(v) of the Code, or (E) the
Participant’s Termination due to the Participant’s Disability.

(c)    If the RSUs become payable on the Participant’s “separation from service”
with the Company and its Subsidiaries within the meaning of Section
409A(a)(2)(A)(i) of the Code and the Participant is a “specified employee” as
determined pursuant to procedures adopted by the Company in compliance with
Section 409A of the Code, then payment for the RSUs shall be made on the earlier
of (i) the fifth (5th) business day of the seventh month after the date of the
Participant’s “separation from service” with the Company and its Subsidiaries
within the meaning of Section 409A(a)(2)(A)(i) of the Code or (ii) the Grantee’s
death.

(d)    Except to the extent provided by Section 409A of the Code and permitted
by the Committee, no Shares may be issued to the Grantee at a time earlier than
otherwise expressly provided in this Agreement.

(e)    The Company’s obligations to the Grantee with respect to the RSUs will be
satisfied in full upon the issuance of Common Shares corresponding to such RSUs.

(f)    In the event an amount becomes payable pursuant to this Section 4 on
account of the Participant’s Termination of service due to death, or the
Participant becomes entitled to receive an amount pursuant to this Section and
the Participant dies prior to receiving any or all of the amounts to which the
Participant is due, then the amounts payable pursuant to this Section 4 shall be
made to the beneficiary or beneficiaries (which may include individuals, trusts
or other legal entities) designated by the Participant on the form attached
hereto as Attachment 1 or as otherwise provided by and filed with the Company
prior to the Participant’s death (the “Beneficiary Designation Form”). If the
Participant fails to designate a beneficiary or fails to file the Beneficiary
Designation Form with the Company prior to the Participant’s death, such amounts
shall be made to the Participant’s estate. If a named beneficiary entitled to
receive payments pursuant to the Beneficiary Designation Form dies at a time
when additional payments still remain to be paid, then and in any such event,
such remaining payments shall be paid to the other primary beneficiary or
beneficiaries named by the Participant who shall then be living or in existence,
if any, otherwise to the contingent beneficiary or beneficiaries named by the
Participant who shall then be living or in existence, if any; otherwise to the
estate of the Participant.

 
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5.    Dividend Equivalents; Voting and Other Rights.
(a)    The Participant shall have no rights of ownership in the Shares
underlying the RSUs and no right to vote the Shares underlying the RSUs until
the date on which the Shares underlying the RSUs are issued or transferred to
the Participant pursuant to Section 4 above.

(b)    The obligations of the Company under this Agreement will be merely that
of an unfunded and unsecured promise of the Company to deliver Shares in the
future, and the rights of the Participant will be no greater than that of an
unsecured general creditor. No assets of the Company will be held or set aside
as security for the obligations of the Company under this Agreement.

6.    Non‑transferability.

(a)    Restriction on Transfers. Except as provided in Section 6(b) below, all
RSUs, and any rights or interests therein, shall not be sold, exchanged,
transferred, assigned or otherwise disposed of in any way at any time by the
Participant (or any beneficiary(ies) of the Participant), other than by
testamentary disposition by the Participant or by the laws of descent and
distribution. Any attempt to sell, exchange, transfer, assign, pledge, encumber
or otherwise dispose of this RSU, or the levy of any execution, attachment or
similar legal process upon this RSU, contrary to the terms and provisions of
this Agreement and/or the Plan, shall be null and void and without legal force
or effect.

(b)    Permissible Transfers. During the Participant’s lifetime, the Participant
may, with the consent of the Committee, transfer without consideration all or
any portion of this RSU to one or more members of his/her Immediate Family, to a
trust established for the exclusive benefit of one or more members of his/her
Immediate Family, to a partnership in which all the partners are members of
his/her Immediate Family, or to a limited liability company in which all the
members are members of his/her Immediate Family.

7.    Securities Representations. Upon the delivery of the Shares prior to the
registration of the Shares to be issued hereunder pursuant to the Securities Act
of 1933, as amended, and the rules and regulations thereunder (the “Securities
Act”), the Participant shall be deemed to acknowledge and make the following
representations and warranties and as otherwise may be requested by the Company
for compliance with applicable laws, and any issuances of Shares by the Company
hereunder shall be made in reliance upon the express representations and
warranties of the Participant:

(a)    The Participant is acquiring and will hold the Shares to be issued
hereunder for investment for the Participant’s account only and not with a view
to, or for resale in connection with, any “distribution” thereof within the
meaning of the Securities Act or other applicable securities laws.

(b)    The Participant will not Transfer the Shares deliverable with respect to
the RSUs in violation of the Plan, this Agreement, the Securities Act (or the
rules and regulations promulgated thereunder) or under any other applicable
securities laws. The Participant agrees that the Participant will not dispose of
the Shares to be issued hereunder unless and until the Participant has complied
with all requirements of the Plan and this Agreement applicable to the
disposition of such Shares.

(c)    The Participant has been furnished with, and has had access to, such
information as the Participant considers necessary or appropriate for deciding
whether to invest in the Shares to be

 
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issued hereunder, and the Participant has had an opportunity to ask questions
and receive answers from the Company regarding the terms and conditions of the
issuance of such Shares.

(d)    The Participant is aware that an investment in the Company is a
speculative investment that has limited liquidity and is subject to the risk of
complete loss. The Participant is able, without impairing the Participant’s
financial condition, to hold the Shares to be issued hereunder for an indefinite
period and to suffer a complete loss of the Participant’s investment in such
Shares.

8.    Entire Agreement; Amendment. This Agreement, together with the Plan,
contains the entire agreement between the parties hereto with respect to the
subject matter contained herein, and supersedes all prior agreements or prior
understandings, whether written or oral, between the parties relating to such
subject matter. The Committee shall have the right, in its sole discretion, to
modify or amend this Agreement from time to time in accordance with and as
provided in the Plan. This Agreement may also be modified or amended by a
writing signed by both the Company and the Participant. The Company shall give
written notice to the Participant of any such modification or amendment of this
Agreement as soon as practicable after the adoption thereof.

9.    Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of Delaware, without reference to the
principles of conflict of laws thereof.

10.    Withholding of Tax. To the extent the Company is required to withhold any
taxes in connection with any payment made or benefit realized under this
Agreement, and the amounts available to the Company are insufficient, it will be
a condition to the receipt of such payment or the realization of such benefit
that the Participant or such other applicable person shall make arrangements
satisfactory to the Company for payment of such taxes required to be withheld,
which arrangements (in the discretion of the Committee) may include
relinquishment of a portion of such benefit. If such benefit is to be in the
form of Shares and the Participant fails to make arrangements for the payment of
tax, unless otherwise determined by the Committee, the Company will withhold
Shares having a value equal to the amount required to be withheld.
Notwithstanding the foregoing, if the Participant is required to pay an amount
required to be withheld, the Participant may elect, unless otherwise determined
by the Committee, to satisfy the obligation, in whole or in part, by having
withheld, from the Shares required to be delivered hereunder, Shares having a
value equal to the amount required to be withheld or by delivering to the
Company other Shares held by the Participant. Shares used for withholding will
be valued at the market value of such Shares on the date the benefit is to be
included in Participant’s income and such market value will in no event exceed
the minimum amount of taxes required to be withheld.

11.    No Right to Employment or Service. Nothing in this Agreement shall
interfere with or limit in any way the right of the Company to terminate the
Participant’s service at any time, for any reason and with or without Cause. Any
questions as to whether and when there has been a termination of such service
and the cause of such termination shall be determined in the good faith of the
Committee.

12.    Notices. Any notice which may be required or permitted under this
Agreement shall be in writing, and shall be delivered in person or via facsimile
transmission, overnight courier service or certified mail, return receipt
requested, postage prepaid, properly addressed as follows:

(a)    If such notice is to the Company, to the attention of the General Counsel
of the Company or at such other address as the Company, by notice to the
Participant, shall designate in writing from time to time.

 
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(b)    If such notice is to the Participant, at his/her address as shown on the
Company’s records, or at such other address as the Participant, by notice to the
Company, shall designate in writing from time to time.

13.    Transfer of Personal Data. The Participant authorizes, agrees and
unambiguously consents to the transmission by the Company (or any Subsidiary) of
any personal data information related to the RSU awarded under this Agreement
for legitimate business purposes (including, without limitation, the
administration of the Plan). This authorization and consent is freely given by
the Participant.

14.    Compliance with Laws. This issuance of RSUs (and the Shares underlying
the RSUs) pursuant to this Agreement shall be subject to, and shall comply with,
any applicable requirements of any foreign and U.S. federal and state securities
laws, rules and regulations and any other law or regulation applicable thereto.
The Company shall not be obligated to issue this RSU or any of the Shares
pursuant to this Agreement if any such issuance would violate any such
requirements. As a condition to the issuance of the RSUs, upon delivery of the
Shares underlying the RSUs, the Company may require the Participant to satisfy
any qualifications that may be necessary or appropriate to evidence compliance
with any applicable law or regulation.

15.    Section 409A. Notwithstanding anything herein or in the Plan to the
contrary, the RSUs are intended to be exempt from the applicable requirements of
Section 409A of the Code and shall be limited, construed and interpreted in
accordance with such intent.

16.    Binding Agreement; Assignment. This Agreement shall inure to the benefit
of, be binding upon, and be enforceable by the Company and its successors and
assigns. The Participant shall not assign (except in accordance with Section 6
hereof) any part of this Agreement without the prior express written consent of
the Company.

17.    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 shall
constitute one and the same instrument.

18.    Headings. The titles and headings of the various sections of this
Agreement have been inserted for convenience of reference only and shall not be
deemed to be a part of this Agreement.

19.    Further Assurances. Each party hereto shall do and perform (or shall
cause to be done and performed) all such further acts and shall execute and
deliver all such other agreements, certificates, instruments and documents as
either party hereto reasonably may request in order to carry out the intent and
accomplish the purposes of this Agreement and the Plan and the consummation of
the transactions contemplated thereunder.

20.    Severability. The invalidity or unenforceability of any provisions of
this Agreement in any jurisdiction shall not affect the validity, legality or
enforceability of the remainder of this Agreement in such jurisdiction or the
validity, legality or enforceability of any provision of this Agreement in any
other jurisdiction, it being intended that all rights and obligations of the
parties hereunder shall be enforceable to the fullest extent permitted by law.

[Remainder of Page Intentionally Left Blank]

 
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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
date first written above.

SWIFT ENERGY COMPANY

By:    

Name: Terry E. Swift

Title: Chief Executive Officer

 
 
 

Restricted Stock Unit Agreement – Non-Employee Director 2016 Grant Signature
Page

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
date first written above.

PARTICIPANT

    

Name:    

    

    

Restricted Stock Unit Agreement – Non-Employee Director 2016 Grant Signature
Page
 
 

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This form applies to Participants with unvested RSUs and any other unvested
equity awards from the Swift Energy Company 2016 Equity Incentive Plan (the
“Plan”). Please refer to your Award Agreements for more information. Any
election made on this form will revoke all prior beneficiary designations made
by you. In the absence of any beneficiary designation made by you, your benefits
remaining unpaid or rights remaining unexercised at your death will be paid to
or exercised by the representative of your estate.

•
Complete all requested information. Enter the whole percentage you wish each
beneficiary to receive. These whole percentages must total 100% for elected
primary beneficiaries and 100% for elected contingent beneficiaries, if any.

•
You may designate benefits to a trust. Please include the name, date, and
taxpayer ID of your trust below.

•
If you are married and name a primary beneficiary other than your spouse, please
see the Spousal Consent section.

Participant Information (Please print clearly in ink)

_______________________________________________________
Last Name, First Name M.I
____________________
Social Security Number
 

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I, the undersigned, hereby elect that upon my death the following person(s)
shall be my primary and contingent beneficiary(ies) for any pre-retirement death
benefits payable under the Swift Energy Company 2016 Equity Incentive Plan.

Primary Beneficiary(ies):

____________________________________________________________________
Last Name, First Name M.I.
____________________________________
Social Security Number/Taxpayer ID No.

______________________________________________________
Street Address
_________________________
City
______
State
__________
ZIP Code

_____________________________________________
Relationship
__________________________
Birth Date/Date of Trust
___________________
Phone Number
___________
Percentage

_____________________________________________________________________________
Last Name, First Name M.I.
_____________________________________
Social Security Number/Taxpayer ID No.

 
 
 

Restricted Stock Unit Agreement – Non-Employee Director 2016 Grant Signature
Page

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______________________________________________
Street Address
_________________________
City
______
State
___________
ZIP Code 

________________________________________________
Relationship
_________________________
Birth Date/Date of Trust
___________________
Phone Number
_____________
Percentage
 
_______________________________________________________________________________
Last Name, First Name M.I.
____________________________________
Social Security Number/Taxpayer ID No.

______________________________________________
Street Address
_________________________
City
______
State
___________
ZIP Code

________________________________________________
Relationship
__________________________
Birth Date/Date of Trust
_____________________
Phone Number
___________
Percentage

Contingent Beneficiary(ies):

In the event none of the primary beneficiary(ies) named above is/are living, I
designate the following person(s) as my contingent beneficiary(ies).

______________________________________________________________________
Last Name, First Name M.I.
_______________________________
Social Security Number/Taxpayer ID No.

__________________________________________________________
Street Address
_________________________
City
______
State
_____________
ZIP Code

___________________________________________
Relationship
________________________
Birth Date/Date of Trust
____________________
Phone Number
____________
Percentage

________________________________________________________________________
Last Name, First Name M.I.
_______________________________
Social Security Number/Taxpayer ID No.

_________________________________________________________
Street Address
_________________________
City
______
State
_____________
ZIP Code

________________________________________________
Relationship
__________________________
Birth Date/Date of Trust
_____________________
Phone Number
_____________
Percentage

DOCUMENT1    10

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________________________________________________________________________
Last Name, First Name M.I.
_______________________________
Social Security Number/Taxpayer ID No.

_________________________________________________________
Street Address
_________________________
City
_______
State
_____________
ZIP Code

______________________________________________
Relationship
__________________________
Birth Date/Date of Trust
_______________________
Phone Number
_____________
Percentage

Designation of Custodian for Minor Children:
If you designate a child who is under age 18 as your beneficiary, you must also
designate a custodian of assets for the child. Please indicate the custodian’s
name and address below.
Child’s Name
Custodian’s Name
Custodian’s Address

1.___________________________

_____________________________

____________________________
2.___________________________
_____________________________
____________________________
3.___________________________
_____________________________
____________________________

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Participant Declaration and Signature
I hereby revoke all previous death benefit beneficiary designations, if any, for
the Swift Energy Company 2016 Equity Incentive Plan. I understand that this
beneficiary designation does not take effect unless and until my properly
completed and signed form has been received by the Company prior to my death. I
further understand that no benefits will be paid to my designated
beneficiary(ies) if I die before I am vested in my Plan benefit. By completing
this form, I acknowledge that if no beneficiaries chosen by me are surviving at
the time payment is to be made, or if I do not designate any beneficiaries, Plan
benefits, if any, will be paid according to Plan provisions.

Current Marital Status: (check one)
o
Single

o
Married and have designated my spouse as the sole primary beneficiary. (No
Spousal Consent required)

DOCUMENT1    11

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o
Married and have not designated my spouse as the sole primary beneficiary.
(Spousal Consent required)

Your signature____________________________________________________

Date____________________________

If you are married and have chosen a primary beneficiary other than your spouse,
your spouse must complete the section below.

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Spousal Consent
I hereby consent to the beneficiary(ies) named by my spouse on this form with
respect to the death benefit under the Swift Energy Company 2016 Equity
Incentive Plan. I understand that by giving my consent, (1) I am waiving all
rights to the community property interest I may have in the death benefit which
may be payable under the Plan if my spouse dies while actively in service, (2) I
am giving up my legal right to be the sole beneficiary of the death benefit
which may be payable under the Plan if my spouse dies while actively in service;
(3) any death benefit payable from the Plan at my spouse’s death will be paid to
the beneficiary(ies) designated above; and (4) I cannot revoke this consent
unless my spouse changes Plan beneficiary designations.

__________________________________________________________________________
Spouse’s Name (please type or print)
_____________________________
Spouse’s Social Security Number

______________________________________________________________________
Spouse’s Signature
________________________________
Date Signed

Please return your completed form via intercompany mail to: .

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