exv10w25



 






EXHIBIT 10.25




	 	 	 	 	 
	 
	Notice of Grant of Stock Options
and Option Agreement	 	Range Resources Corporation

ID: 34-1312571

777 MAIN STREET

SUITE 800

FORT WORTH, TEXAS 76102
	 
	 	 	 	 
	 
	 	 	 	 	 
	


	 	 	 	Option



 Number:

	


	 	 	 	Plan: 99SO
	


	 	 	 	ID:
	 	 	 	 	 
	 
	 
	 	 	 	 





Effective [Date] you have been granted a Range Resources Corporation (the “Company”) Incentive
Stock Option to buy [Number] shares of common stock at a price of $[Price] per share.



The total option price of the shares granted is $[Total price].



Subject to the terms and provisions of Annex A hereto, the Incentive Stock Option will have a term
of 10 years and the option shares will vest at 25% per year over a four year period. The shares
vesting in each period will be fully vested on the date shown below.



	 	 	 	 	 
	Shares Granted

	 	Vesting Date
	 	Expiration Date
	 
	 	 
	 	 
	 
	 	 
	 	 
	 
	 	 
	 	 
	 
	 	 
	 	 






	 	 	 
	 
	By your signature and the Company’s signature below, you and the Company agree that the options  
granted hereby are granted under and governed by the terms and conditions of the 1999 Stock
Incentive Plan (the “Plan”). The Plan is on file in the Company’s corporate records and a copy is
available upon request to the Company’s Secretary.
	 





RANGE RESOURCES CORPORATION




	 	 	 	 	 	 	 
	BY

	 	 	 	 	 	 
	

	 	 
	 	 	 	 
	

	 	RODNEY L. WALLER
	 	 	 	DATE
	

	 	SENIOR VICE PRESIDENT	 	 	 	 
	 
	 	 	 	 	 	 
	BY
	 	 	 	 	 	 
	

	 	 
	 	 	 	 
	

	 	[Optionee]
	 	 	 	DATE






 









 






ANNEX A




     1. Defined Terms. Defined terms used in this Annex A shall have the meanings set
forth in the Plan, as it may be amended from time to time, or the Option Agreement to which this
Annex A is attached.



     2. Vesting. The option shares subject to the Stock Option shall cease to vest, and
the unvested portion of the Stock Option shall immediately terminate, in the event that the Holder
shall cease to be in the employ of the Company or any Affiliate for any reason.



     3. Term and Time of Exercise Prior to Change of Control.




          (a) Termination of Employment other than due to Death or Disability. In the
event that a Holder, prior to a Change of Control, shall cease to be in the employ of the
Company or an Affiliate for any reason, other than by reason of death or disability, then
the vested and unexercised portion of the Stock Option shall terminate at 5:00 p.m. Fort
Worth, Texas time on the date that is 30 days after the date of such Holder’s termination of
employment; provided, however, that, notwithstanding the foregoing, (A) in the event the
employment of the Holder is terminated prior to a Change of Control for dishonesty or other
acts detrimental to the interest of the Company or any Affiliate or for any breach by the
Holder of any employment contract with the Company or any Affiliate, as determined in each
case by the Committee in its sole and absolute discretion, or (B) if, after the Holder’s
employment is terminated prior to a Change of Control, the Holder commits an act that is
determined by the Committee, in its sole and absolute discretion, to be detrimental to the
interests of the Company or any Affiliate, then, in the case of clause (A) or (B), the Stock
Option shall automatically be null and void at the time of such determination.




(b) Termination due to Disability. In the event that a Holder, prior to a Change of
Control, shall cease to be in the employ of the Company or an Affiliate by reason of
disability, as determined by the Committee in its sole and absolute discretion, then the
vested and unexercised portion of the Stock Option shall terminate at 5:00 p.m. Fort Worth,
Texas time on the one-year anniversary date of such Holder’s termination of employment.




(c) Termination due to Death. In the event that a Holder, prior to a Change of
Control, dies while in the employ of the Company or an Affiliate, the vested and unexercised
portion of the Stock Option shall (i) terminate at 5:00 p.m. Fort Worth, Texas time on the
one-year anniversary date of such Holder’s death and (ii) be exercisable only by the person
or persons to whom the Holder’s rights under the Stock Option shall pass by the Holder’s
will or the laws of descent and distribution.




(d) Maximum Term. Notwithstanding any provision of Section 3(a), 3(b), or 3(c) to
the contrary, the Stock Option shall not be exercisable after the Expiration Date set forth
in the Option Agreement.