Document:

exv10w26

 

EXHIBIT 10.26

Borrowed Employees and Advisory Agreement

This Borrowed Employees and Advisory Agreement is made effective as of January 1, 2005,
between Amphion Capital Partners LLC (“ACP”) and Axcess International, Inc. (“AXCESS”). AXCESS is
publicly traded on the Bulletin Board as OTCBB: AXSI. AXCESS is a provider of hardware and
software solutions in the security and transportation industry. ACP will assist in a variety of
areas relating to the investor relations and technology research for AXCESS under the following
terms and conditions:

1. Use of ACP Employees. AXCESS requires certain services as described in section 2 below,
to operate and maintain its business. However, the rendering of such services does not rise to the
level of AXCESS hiring full time employees. ACP hereby agrees to allow AXCESS to utilize, on an
“as needed” part-time basis, two of its current employees who have the ability to provide the
services needed by AXCESS. It is understood and agreed by the parties that the compensation
described herein shall be all the compensation required to be paid by AXCESS for use of the ACP
employees and AXCESS, under no circumstances, will pay the employees directly or be responsible for
payment of any withholding taxes or benefits. It is further understood and agreed that neither
party, for any purpose, will make any claim that the ACP employees are employees of AXCESS.

2. Services of ACP.

     For the Term of this Agreement (as hereinafter defined), ACP will work cooperatively with
AXCESS to assist in the growth of AXCESS as set forth below. ACP will provide AXCESS with the use
of employees as described above who will be dedicated, on a part-time basis, to provide these
services, in addition to the services of Robert Bertoldi and Richard Morgan. ACP will provide
AXCESS the following:

	 	a.  	Identification, evaluation and advice on a variety of options for AXCESS to
undertake to enhance its current technology offerings, including sources of
complementary technology and technology partnering;
	 
	 	b.  	Investor relations services, including becoming the initial point of contact for
the Preferred Equity Investors, providing both materials and information to interested
parties;
	 
	 	c.  	Advice and assistance with strategies relating to asset development, asset
enhancement and maximization of asset utilization, including those associated with any
intellectual property assets.

3. Non-Exclusivity of Relationship.

     It is understood and acknowledged by AXCESS that ACP presently has, and anticipates having
throughout the Term, other clients for which it performs the same or similar services to those to
be performed in accordance herewith, and that ACP shall be under no obligation to restrict its
ability in any way to perform services for any other client-companies.

     It is understood that AXCESS, from time to time, will employ investment bankers, analysts,
finders, brokers, public relations firms, and consultants to assist AXCESS. This Agreement shall
only refer to those opportunities and services introduced by ACP, or introduced by AXCESS for the
assistance and help from ACP.

4. Term of Agreement.

     The Agreement shall be effective for a period of twelve (12) months, commencing on the date
first appearing above (the “Term of Agreement”) and will renew on an annual basis unless either
party notifies the other in writing, not less than 30 days before the end of the term, of their
desire to terminate the agreement.

5. Compensation to ACP from AXCESS.

     In consideration for the services rendered by ACP to AXCESS pursuant to the Agreement (and in
addition to the expenses provided for in Paragraph 6 hereof), and throughout the Term of Agreement,
AXCESS shall compensate ACP as follows:

Monthly Retainer and Additional Compensation. ACP shall be compensated at
the rate of $7,500 per month payable in advance on the first day of each month. This
cash payment will automatically be suspended for any month in which AXCESS’ cash
position falls below $500,000 with an additional month being added on to the end of
the contract to compensate ACP for their services.

 

 

6. Expenses.

     It is anticipated that expenses incurred in the fulfillment in connection with the services
performed by ACP pursuant to this Agreement shall be addressed on a case by case basis and
pre-approved by an officer of AXCESS.

7. Role of Finder.

     In connection with any Financing Transactions hereunder, AXCESS acknowledges that ACP is not a
registered broker-dealer under Section 15A of the U.S. Securities Exchange Act of 1934, or any
similar state law, and that ACP cannot, and shall not be required hereunder to, engage in the offer
or sale of securities for or on behalf of AXCESS. While ACP has pre-existing relationships and
contacts with various investors, registered broker-dealers and investment funds, ACP’s
participation in any actual or proposed offer or sale of Company securities shall be limited to
that of an advisor to AXCESS.

     AXCESS acknowledges and agrees that the solicitation and consummation of any purchases of
AXCESS’ securities shall be handled by AXCESS or one or more NASD member firms engaged by AXCESS
for such purposes.

8. Third Party Fees.

     Any third party fees payable in connection with the services described shall be the exclusive
responsibility of, and shall be paid by ACP.

9. Limitation on Use of Certain Information.

          AXCESS acknowledges that all services and advice (written or oral) provided by ACP to AXCESS
in connection with the Agreement are intended solely for the benefit and use of AXCESS in
considering the subject matter to which they relate, and AXCESS agrees that no person or entity
(including any shareholders of AXCESS) other than AXCESS shall be entitled or advised to make use
of or rely upon the advice of ACP provided pursuant hereto. In any event, neither AXCESS nor any
other parties may use the ACP name in any public references, press releases or public filings in
connection with AXCESS without ACP’s prior written consent.

10. Reliance by ACP on Accuracy of Information; 12(b) 5 Representation.

AXCESS recognizes and acknowledges that, in advising AXCESS and in fulfilling the Agreement
hereunder, ACP will use and rely on data, material and other information furnished to ACP by
AXCESS. AXCESS agrees that ACP may do so without independently verifying the accuracy or
completeness of such data, material or other information. AXCESS represents and warrants that any
such data, material or information shall be true and accurate and shall not, as of the time
communicated, contain any untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary in order to make the statements therein, in light of the
circumstances under which they were made, not misleading.

11. Confidentiality.

     If any of the data, material or other information is non-public or confidential when revealed
or otherwise shared with representatives of ACP, and identified in writing as such at the time it
is revealed or shared (“Confidential Information”), ACP and its officers, directors, employees,
agents and associates shall hold all Confidential Information in complete and strict confidence and
will not, without prior written consent of AXCESS, in each instance, disclose any Confidential
Information, in whole or part, to any other person or for any other purpose than is expressly
approved by AXCESS in writing. To the extent that AXCESS in writing approves disclosure of
Confidential Information, excepting information required to be disclosed by legal process, law or
regulation, ACP agrees that each party or individual to whom such disclosure is made shall be
informed of the confidential nature of the information disclosed and be obligated to sign standard
non-disclosure agreements.

12. Indemnification.

     Each party (an “Indemnifying Party”) hereby agrees to indemnify and hold the other party and
its respective affiliates, directors, officers, employees and agents (collectively, the
“Indemnified Parties”) harmless from, and to reimburse each of the Indemnified Parties for, any
loss, damage, deficiency, claim, obligation, suit, action, fee, cost or expense of any nature
whatsoever (including, but not limited to, reasonable attorney’s fees and costs) arising out of,
based upon or resulting from any breach of any of the representations, warranties, covenants,
agreements or undertakings of the Indemnifying Party contained in or made pursuant to this
Agreement Letter.

2

 

13. Nature of Agreement; Limitation on Authority of ACP to Bind.

     ACP shall perform its services hereunder as an independent contractor and not as an employee
of AXCESS or an affiliate thereof. It is expressly understood and agreed to by the parties hereto
that ACP shall have no authority to act for, represent or bind AXCESS or any affiliate thereof in
any manner, except as may be agreed to expressly by AXCESS in writing from time to time.

14. Miscellaneous.

	 	(a)  	This Agreement constitutes the entire agreement and understanding
of the parties hereto, and supersedes any and all previous agreements and
understandings, whether oral or written, between the parties with respect to the
matters set forth herein.
	 
	 	(b)  	Any notice or communication permitted or required hereunder shall
be in writing and shall be deemed sufficiently given if hand-delivered via
courier or overnight service or sent (i) postage prepaid by registered mail,
return receipt requested, to the respective parties as set forth below, or to
such other address as either party may notify the other of in writing:

	 	 	 	 	 
	 

	 	If to ACP, Inc. to:
	 	Robert J. Bertoldi, President
	

	 	 	 	Amphion Capital Partners LLC
	

	 	 	 	330 Madison Avenue, 31st Floor
	

	 	 	 	New York, NY 10017
	

	 	If to AXCESS, to:
	 	Allan Griebenow, CEO
	

	 	 	 	Axcess International, Inc.
	

	 	 	 	3280 Commander Drive
	

	 	 	 	Carrolton, TX 75006

          (c) This Agreement shall be binding upon and inure to the benefit of each of the parties
hereto and their respective successors, legal representatives and assigns.

          (d) AXCESS represents that it has the power to enter into this Agreement and to carry out its
obligations hereunder. This Agreement constitutes the valid and binding obligation of AXCESS and
is enforceable in accordance with its terms. AXCESS further represents that this Agreement does
not conflict with or breach any agreement to which it is subject or by which it is bound.

          (e) This Agreement may be executed in any number of counterparts, each of which together shall
constitute one and the same original document.

          (f) No provision of this Agreement may be amended, modified or waived, except in writing and
signed by all of the parties hereto.

          (g) This Agreement shall be construed in accordance with and governed by the laws of the State
of Texas, without giving effect to its conflict of law principles. The parties hereby agree that
any dispute between them arising out of or in connection with this Agreement shall be adjudicated
before a court located in Collin County, Texas, and they hereby submit to the exclusive
jurisdiction of the courts of the State of Texas.

          (h) AXCESS hereby acknowledges that it shall bear the burden of proof in any action or
proceeding involving a claim by ACP to any Additional Compensation due hereunder arising out of any
Compensable Event involving a third party claimed by ACP to have been originally introduced to
AXCESS by ACP.

          (i) Whenever used in this agreement, Company shall include its officers, directors, employees,
agents, associates, affiliates, subsidiaries, successors and assigns.

     If the foregoing correctly sets forth the understanding between ACP and AXCESS with respect to
the foregoing, please so indicate by signing in the place provided below, at which time this
Agreement shall become a binding agreement.

	 	 	 	 	 	 	 
	 	 	Axcess International, Inc.	 	 
	 
	

	 	By:
	 	/S/ Allan Griebenow
	 	 
	

	 	 	 	 	 
	

	 	President	 	 

	 	 	 	 	 
	Accepted and Agreed:	 	 
	Amphion Capital Partners LLC	 	 
	By:

	 	/S/ Robert J. Bertoldi	 	 
	

	 	 	 	 

3exv10w1

 

Exhibit 10.1

 

RANGE RESOURCES CORPORATION

EXECUTIVE CHANGE IN CONTROL

SEVERANCE BENEFIT PLAN

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	ARTICLE I — DEFINITIONS
	 	 	1	 
	1.1 Definitions
	 	 	1	 
	 
	 	 	 	 
	ARTICLE II — PURPOSE OF THE PLAN
	 	 	6	 
	2.1 Purpose
	 	 	6	 
	 
	 	 	 	 
	ARTICLE III — SEVERANCE BENEFITS
	 	 	6	 
	3.1 Severance Benefits
	 	 	6	 
	3.2 Acceleration of Equity Awards
	 	 	7	 
	3.3 Release
	 	 	8	 
	3.4 Voluntary Termination; Termination for Cause; Disability; Death
	 	 	9	 
	3.5 Form of Benefit
	 	 	10	 
	3.6 Gross-Up for Certain Taxes
	 	 	10	 
	3.7 Employment by Buyer
	 	 	12	 
	3.8 Termination in Anticipation of Change in Control
	 	 	12	 
	 
	 	 	 	 
	ARTICLE IV — CLAIMS PROCEDURE
	 	 	12	 
	4.1 Claims That Do Not Involve a Determination of Disability
	 	 	12	 
	4.2 Claims Involving a Determination of Disability
	 	 	14	 
	4.3 Arbitration
	 	 	15	 
	 
	 	 	 	 
	ARTICLE V — FUNDING OF THE PLAN
	 	 	17	 
	5.1 Source of Benefits
	 	 	17	 
	 
	 	 	 	 
	ARTICLE VI — ADMINISTRATION OF THE PLAN
	 	 	17	 
	6.1 Plan Administration and Interpretation
	 	 	17	 
	6.2 Powers, Duties and Procedures, Etc
	 	 	18	 
	6.3 Information
	 	 	18	 
	6.4 Indemnification of Plan Administrator
	 	 	18	 
	 
	 	 	 	 
	ARTICLE VII — AMENDMENT AND TERMINATION OF THE PLAN
	 	 	18	 
	7.1 Right to Amend
	 	 	18	 
	7.2 Plan Term
	 	 	19	 
	7.3 Effect of Termination
	 	 	19	 
	 
	 	 	 	 
	ARTICLE VIII — MISCELLANEOUS PROVISIONS
	 	 	19	 
	8.1 Nondisparagement
	 	 	19	 
	8.2 No Guarantee of Employment
	 	 	19	 
	8.3 Payments to Minors and Incompetents
	 	 	20	 
	8.4 No Vested Right to Benefits
	 	 	20	 
	8.5 Non-alienation of Benefits
	 	 	20	 
	8.6 Jurisdiction
	 	 	20	 
	8.7 Severability
	 	 	20	 
	8.8 Withholding
	 	 	20	 
	8.9 Overpayment
	 	 	21	 
	8.10 Successors
	 	 	21	 

 

 

RANGE RESOURCES CORPORATION

EXECUTIVE CHANGE IN CONTROL

SEVERANCE BENEFIT PLAN

ARTICLE I

DEFINITIONS

	1.1  	Definitions. Unless otherwise required by context, the capitalized terms used herein
shall have the meaning set forth below.

	 	(a)  	“Acquiring Person” means (i) any Person other than the Company, any Subsidiary,
any employee benefit plan of the Company or any Subsidiary or any trustee or other
fiduciary holding securities under an employee benefit plan of the Company or any
Subsidiary of the Company and (ii) all members of a group (within the meaning of
Section 13(d)(3) or Section 14(d)(2) of the Securities Exchange Act of 1934) of which
any Person described in clause (i) is a member with respect to the Employer’s
securities.
	 
	 	(b)  	“Base Salary” means the Employee’s annual gross rate of pay including vacation
and holiday pay, sick leave compensation, and amounts reduced from the Employee’s
compensation and contributed on the Employee’s behalf as deferrals under any qualified
or non-qualified employee benefit plans sponsored by the Employer (i) in effect
immediately prior to an Involuntary Termination of Employment, or (ii) if greater, in
effect immediately prior to a Change in Control. Base Salary shall not include bonus,
incentive pay, overtime pay, auto or travel allowance, or any other benefits and
special allowances (other than amounts specified in the preceding sentence) for which
the Employee is eligible.
	 
	 	(c)  	“Beneficiary” means the individual or other legal entity designated by the
Eligible Employee in the manner and form approved by the Plan Administrator, or, if
there is no such designation the Eligible Employee’s spouse, or, if a Beneficiary does
not survive the Eligible Employee, the Eligible Employee’s estate.
	 
	 	(d)  	“Board” means the Board of Directors of the Employer.
	 
	 	(e)  	“Bonus” means the average of the annual bonus awards paid or awarded (in cash
or equity securities (which shall be valued based on the fair market value of the
securities on the date of grant without regard to any discount for risk of forfeiture))
to the Employee for the three fiscal years (or fewer, to the extent the Employee was
not an Employee or was not eligible to participate in the Employer’s annual incentive
award program in all three fiscal years) ending immediately prior to the fiscal year
(i) in which an Involuntary Termination of
Employment occurs or, if greater, (ii) in which a Change in Control occurs or, if
bonuses for the most recent fiscal year have not been paid or awarded for such

	 	 	 	 	 	 	 
	RANGE RESOURCES CORPORATION
	 	 	 	 	 	 
	EXECUTIVE CHANGE IN CONTROL
	 	 	 	 	 	 
	SEVERANCE BENEFIT PLAN

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	 	   	fiscal year as of the date of the Involuntary Termination of Employment or Change in
Control, as applicable, the bonus for the three prior fiscal years.
	 
	 	(f)  	“Cause” means (i) an act or acts of dishonesty by an Eligible Employee
constituting a felony under applicable law, and/or (ii) any act resulting or intending
to result directly or indirectly in gain to or personal enrichment of the Eligible
Employee at the Employer’s expense. Notwithstanding the foregoing, the Eligible
Employee shall not be deemed to have been terminated for Cause unless and until there
shall have been delivered to the Eligible Employee a copy of a resolution finding that
in the good faith opinion of the Board the Eligible Employee was guilty of conduct
constituting Cause as provided in clause (i) or (ii) above, which resolution shall have
been duly adopted by the affirmative vote of not less than a majority of the Board at a
meeting of the Board called and held (after reasonable notice and opportunity for the
Eligible Employee, together with counsel, to be heard before the Board) for the purpose
of considering whether Cause exists. If an Employee disagrees with a Board
determination that Cause exists with respect to such Employee, the Employee may file a
claim pursuant to Article IV within 30 days after Employee’s receipt of the resolution
of the Board finding that Cause exists.
	 
	 	(g)  	“Change in Control” means the occurrence of any of the following events:

	 	(i)  	Any Acquiring Person becomes the beneficial owner (within the
meaning of Rule 13d-3 promulgated under the Exchange Act) of 35% or more of
either (x) the then outstanding shares of Stock (the “Outstanding Stock”) or
(y) the combined voting power of the then outstanding Voting Securities of the
Company (the “Outstanding Company Voting Securities”); provided, however, that
for purposes of this subsection (i), the following acquisitions shall not
constitute a Change in Control: (A) any acquisition directly from the Company,
or (B) any acquisition by any Person pursuant to a transaction which complies
with clauses (A), (B) and (C) of paragraph (iii) of this Section 1.1(g);
	 
	 	(ii)  	A majority of members of the Board is replaced during any
12-month period by directors whose appointment or election is not endorsed by a
majority of the members of the Board prior to the date of the appointment or
election;
	 
	 	(iii)  	The stockholders of the Company approve a reorganization,
merger or consolidation or sale or other disposition (in one or a series of
related transactions) of all or substantially all of the assets of the Company
or an acquisition of assets of another corporation which is consummated (a
“Business Combination”) (or, if no such approval is required, the consummation
of such a Business Combination), in each case, unless,
immediately following such Business Combination, (A) individuals and
entities who were the beneficial owners, respectively, of the Outstanding
Stock and Outstanding Company Voting Securities immediately prior to such
Business Combination beneficially own, upon consummation of such

	 	 	 	 	 	 	 
	RANGE RESOURCES CORPORATION
	 	 	 	 	 	 
	EXECUTIVE CHANGE IN CONTROL
	 	 	 	 	 	 
	SEVERANCE BENEFIT PLAN

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	 	   	Business
Combination, directly or indirectly, more than 50% of, respectively, the
then outstanding shares of common stock and the combined voting power of the
then outstanding Voting Securities entitled to vote generally in the
election of directors, as the case may be, of the corporation resulting from
such Business Combination (including, without limitation, a corporation
which as a result of such transaction owns the Company, or all or
substantially all of the Company’s assets either directly or through one or
more subsidiaries) in substantially the same proportions as their ownership,
immediately prior to such Business Combination, of the Outstanding Company
Common Stock and Outstanding Company Voting Securities, as the case may be,
(B) no Person (excluding any employee benefit plan (or related trust) of the
Company or the corporation resulting from such Business Combination)
beneficially owns, directly or indirectly, 35% or more of, respectively, the
then outstanding shares of common stock of the corporation resulting from
such Business Combination or the combined voting power of the then
outstanding Voting Securities of such corporation except to the extent that
such ownership of the Company existed prior to the Business Combination and
(C) at least a majority of the members of the board of directors of the
corporation resulting from such Business Combination were members of the
Board at the time of the execution of the initial agreement, or of the
action of the Board, providing for such Business Combination;
	 
	 	(iv)  	Approval by the stockholders of the Company of a complete
liquidation or dissolution of the Company (or, if no such approval is required,
the consummation of such a liquidation or dissolution); or
	 
	 	(v)  	A public announcement or commencement is made of a tender or
exchange offer by any Acquiring Person for, or upon completion of which any
Acquiring Person would beneficially own, 50% or more of the outstanding Voting
Securities of the Company, and the Board approves or fails to oppose that
tender or exchange offer in its statements in Schedule 14D-9 under the Exchange
Act; provided that, within one year after the occurrence of such event, an
event described in clauses (i), (ii), (iii) or (iv) of this Section 1.1(g)
shall have occurred (in which case a Change in Control shall be deemed to have
occurred on the date of the occurrence of the event described above in this
clause (v)).

	 	(h)  	“Code” means the Internal Revenue Code of 1986, as amended.
	 
	 	(i)  	“Company” means Range Resources Corporation.
	 
	 	(j)  	“Disability” means (i) if the Employee is eligible to receive benefits under a
long-term disability plan sponsored by the Employer, the definition of total and
permanent disability, or similar term, under such long-term disability plan, or (ii)if
the Employee is not eligible to receive benefits pursuant to a long-term disability
plan sponsored by the Employer, the determination by the Plan Administrator that the
Employee is not able, due to a physical or mental

	 	 	 	 	 	 	 
	RANGE RESOURCES CORPORATION
	 	 	 	 	 	 
	EXECUTIVE CHANGE IN CONTROL
	 	 	 	 	 	 
	SEVERANCE BENEFIT PLAN

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	 	   	condition, to perform the essential
functions of the Employee’s job, with or without accommodation, for any period of 180
consecutive days whereby the return of the Employee to his duties for an aggregate of
15 days or less during the 180-day period shall not interrupt such 180 day period.
	 
	 	(k)  	“Eligible Employee” means each Employee who is designated by, and in the sole
discretion of, the Plan Administrator as a member of a select group of management or a
highly compensated Employee and as eligible to receive the severance benefits available
under the Plan and who executes and returns to the Plan Administrator a participation
agreement setting forth the Eligible Employee’s benefit multiple and pursuant to which
the Eligible Employee agrees to be subject to the terms of the Plan.
	 
	 	(l)  	“Employee” means any individual who is employed by the Employer.
	 
	 	(m)  	“Employer” means (i) the Company, (ii) any successor to the Company by
reorganization, merger or other consolidation or by acquisition of assets of the
Company, in any case described in this clause (ii) upon and following a Change in
Control, and (iii) all successors to such Persons described in the foregoing clause
(ii).
	 
	 	(n)  	“ERISA” means the Employee Retirement Income Security Act of 1974, as amended.
	 
	 	(o)  	“Good Reason” means any of the following:

	 	(i)  	the assignment to Employee of any duties inconsistent in any
respect with the Employee’s position (including status, offices, titles and
reporting requirements), authority, powers, functions, duties or
responsibilities as held by the Employee immediately prior to the Change in
Control, as same may have been modified upon or after the Change in Control
with the Employee’s written consent, or any other action by the Employer which
results in a material diminution in such position, authority, powers,
functions, duties or responsibilities;
	 
	 	(ii)  	a reduction in the Employee’s Base Salary or target opportunity
under any applicable bonus or incentive compensation plan or arrangement;
	 
	 	(iii)  	failure to provide to Employee eligibility to participate in
bonus, stock option, incentive award and other compensation plans which provide
opportunities for compensation which are at least substantially equivalent
to the opportunities afforded by the Employer to its Employees of
substantially comparable title and responsibility;
	 
	 	(iv)  	failure to provide to Employee employee benefits (including but
not limited to medical, dental, life insurance, and long-term disability plans)
and perquisites substantially equivalent to the employee benefits and
perquisites provided by the Employer to its Employees of substantially
comparable title and responsibility; or

	 	 	 	 	 	 	 
	RANGE RESOURCES CORPORATION
	 	 	 	 	 	 
	EXECUTIVE CHANGE IN CONTROL
	 	 	 	 	 	 
	SEVERANCE BENEFIT PLAN

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	 	(v)  	a change, without the Employee’s consent, in the location of
the Employee’s principal place of employment by the Employer by more than
thirty (30) miles from the location where the Employee was principally employed
prior to such change.

If the Employee believes that an event constituting Good Reason has occurred, the
Employee shall notify the Plan Administrator of that belief, which notice shall set
forth the basis for that belief. The Plan Administrator shall have ten (10) days
after receipt of such notice in which to either rectify such event to the Employee’s
reasonable satisfaction, determine that an event constituting Good Reason does not
exist, or determine that an event constituting Good Reason exists. If the Plan
Administrator does not take any of such actions within such ten (10)-day period, the
Employee may terminate the Employee’s employment for Good Reason immediately at the
end of the ten (10)-day period by giving written notice to the Employer, which
termination will be an Involuntary Termination of Employment effective immediately
prior to the date the event constituting Good Reason occurred. If the Plan
Administrator determines that Good Reason does or does not exist, then the Plan
Administrator shall provide written notice of such determination to the Employee
within 5 days after the Plan Administrator’s determination. If the Plan
Administrator determines that Good Reason does not exist, then (i) subject to
Section 4.1, the Employee shall not be entitled to rely on or assert such event as
constituting Good Reason and (ii) the Employee may file a claim pursuant to Article
IV within 30 days after Employee’s receipt or written notice of the Plan
Administrator’s determination.

	 	(p)  	“Involuntary Termination of Employment” means with respect to any Eligible
Employee, a termination of employment with the Employer other than (i) a voluntary
termination of or resignation from employment by such Eligible Employee other than for
Good Reason, (ii) a termination of employment by Employer for Cause and (iii) any
termination of employment on account of Disability or death.
	 
	 	(q)  	“Person” means any individual, group, partnership, limited liability company,
corporation, association, trust, or other entity or organization.
	 
	 	(r)  	“Plan” means the Range Resources Corporation Executive Change in Control
Severance Benefit Plan, as amended from time to time.
	 
	 	(s)  	“Plan Administrator” means the committee or individual appointed by the Board
to administer the Plan, which may include the entire Board. The Compensation Committee
of the Board initially shall serve as the Plan Administrator.
	 
	 	(t)  	“Protection Period” means the period beginning with the occurrence of a Change
in Control and ending on the last day of the twelfth (12th) full calendar month
following the calendar month in which the Change in Control occurred; provided,
however, if the Change in Control is deemed to have occurred (i) pursuant to clause
(iii) of Section 1.1(g) as a result of stockholder approval of a Business Combination,
the Protection Period shall mean the period beginning on the date

	 	 	 	 	 	 	 
	RANGE RESOURCES CORPORATION
	 	 	 	 	 	 
	EXECUTIVE CHANGE IN CONTROL
	 	 	 	 	 	 
	SEVERANCE BENEFIT PLAN

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	 	   	the stockholders
approve a Business Combination and ending as of the last day of the twelfth (12th) full
calendar month following the consummation of the Business Combination, or (ii) pursuant
to clause (v) of Section 1.1(g), the Protection Period shall mean the period beginning
with the earlier of public announcement or commencement of such tender or exchange
offer and ending on the last day of the twelfth (12th) full calendar month following
the occurrence of an event referred to in the proviso of clause (v) of Section 1.1(g).
	 
	 	(u)  	“Subsidiary” means any corporation or other entity of which a majority of the
combined voting power of the outstanding Voting Securities is owned, directly or
indirectly, by the Company.
	 
	 	(v)  	“Voting Securities” means with respect to any Person any securities or
interests that vote generally in the election of directors, in the admission of general
partners or members, or in the selection of any other similar governing body of such
Person.

ARTICLE II

PURPOSE OF THE PLAN

	2.1  	Purpose. The purpose of the Plan is to provide for the payment of severance benefits to
Eligible Employees due to an Involuntary Termination of Employment within the Protection
Period.

ARTICLE III

SEVERANCE BENEFITS

	3.1  	Severance Benefits. Any Eligible Employee who incurs an Involuntary Termination of Employment during the
Protection Period subject to the limitations contained in this Plan, shall receive the
following severance benefits.

	 	(a)  	Severance Payments. Severance payments in an amount equal to the product of
(i) the benefit multiple set forth in the participation agreement delivered to you by
the Plan Administrator multiplied by (ii) the sum of Base Salary plus Bonus.
	 
	 	(b)  	Welfare Benefit Insurance Continuation. For a period equal to one year
multiplied by the benefit multiple set forth in the participation agreement delivered
to you by the Plan Administrator from the date of the Employee’s Involuntary
Termination of Employment, the Eligible Employee shall continue to participate in any
medical, dental, life and disability insurance, and any other insurance arrangement for
the continued benefit of the Eligible Employee (and, if applicable, the Eligible
Employee’s spouse and minor children) in which such

	 	 	 	 	 	 	 
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	 	   	person(s) were participating
immediately prior to (i) the date of the Involuntary Termination of Employment or (ii)
if greater, the Change in Control; provided, that, the continued participation of such
person(s) is possible under the general terms and provisions of such plans and
arrangements and if such continued participation is barred then the Employer shall
arrange to provide such person(s) with coverage substantially similar to that which
such person(s) would otherwise been entitled to receive under such plans and
arrangements from which such person’s or persons’ continued participation is barred;
provided further, however, that in either case the Eligible Employee pays to the
Employer an amount equal to the premiums, or portion thereof, that the Eligible
Employee was required to pay to maintain such coverage for such person(s) prior to the
Involuntary Termination of Employment; and provided, further, that any coverage
provided pursuant to this Section 3.1(b) shall be limited and reduced to the extent
such coverage is otherwise provided by (or available from or under) any other employer
of the Eligible Employee or the Eligible Employee’s spouse, or Social Security,
Medicare, Medicaid or any similar or substitute arrangements available to such
person(s) to the extent participation in such arrangement results in no greater
out-of-pocket cost to the Eligible Employee than coverage under the Employer’s
arrangements pursuant to this Section 3.1(b).

	3.2  	Acceleration of Equity Awards.

	 	(a)  	Notwithstanding anything to the contrary in any applicable equity award
agreement or other plan or arrangement maintained or sponsored by the Employer and
regardless of whether an Involuntary Termination of Employment occurs, upon the
occurrence of a Change in Control, any outstanding equity-based compensation awards
granted to the Eligible Employee by the Employer prior to the Change in Control and
outstanding as of the effective time of the Change in Control shall become immediately
fully vested and/or exercisable and shall no
longer be subject to a substantial risk of forfeiture or restrictions on
transferability, other than those imposed by applicable legislative or regulatory
requirements.
	 
	 	(b)  	Any outstanding equity-based award that vests pursuant to Section 3.2(a) and
that provides for exercise by the Eligible Employee will be exercisable following an
Involuntary Termination of Employment or any termination with the Employer due to death
or Disability on or after a Change in Control for the lesser of (i) the remaining term
of the award or (ii) one (1) year following the latest to occur of (A) such termination
of employment, (B) in the event of a termination of employment in anticipation of a
Change in Control pursuant to Section 3.8, the actual occurrence of or consummation of
such Change in Control, (C) in the event of a Change in Control pursuant to clause
(iii) of Section 1.1(g) as a result of stockholder approval of a Business Combination,
consummation of such Business Combination or (D) in the event of a Change in Control
pursuant to clause (v) of Section 1.1(g), the occurrence of an event referred to in the
proviso of clause (v) of Section 1.1(g), after which time the award will terminate and
no longer be exercisable. Following a termination of employment that is not an
Involuntary

	 	 	 	 	 	 	 
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	 	   	Termination of Employment or a termination due to death or Disability,
other than a termination by the Employer for Cause, any outstanding equity-based award
that vests pursuant to Section 3.2(a) and that provides for exercise by the Eligible
Employee will be exercisable for the lesser of (1) the remaining term of the award or
(2) thirty (30) days following such termination of employment after which time the
award will terminate and no longer be exercisable. Upon a termination of employment by
the Employer for Cause, any such awards will terminate and no longer be exercisable at
the time of a determination that Cause exists; provided, however, that if, following
the review of a Cause determination submitted to the Plan Administrator pursuant to
Article IV (including the arbitration provisions thereof) it is determined that Cause
did not exist, such award will be exercisable for the lesser of a) the remaining term
of the award or b) one (1) year following the determination that Cause did not exist.

	3.3  	Release.

	 	(a)  	Each Employee, on behalf of himself, his family, attorneys, heirs, estate,
agents, executors, representatives, administrators and each of their respective
successors and assigns (together the “Employee Parties”), shall in connection with the
delivery of payments due hereunder execute and deliver to Employer a release which will
generally release and forever discharge the Employer, and its predecessors, successors,
assigns, parents, subsidiaries and affiliates and each of the foregoing entities’
respective past, present and future shareholders, directors, officers, employees,
agents, representatives, principals, insurers, attorneys, employee benefit programs
(and the trustees, administrators, fiduciaries and insurers of such programs, and any
person acting by, through, under or in concert
with any of the foregoing entities) (together the “Employer Parties”) from any and
all claims, complaints, charges, demands, liabilities, suits, damages, losses,
expenses, attorneys’ fees, obligations or causes of action (collectively “Claims”),
known or unknown of any kind and every nature whatsoever, and whether or not accrued
or matured, which any of them may have, arising out of or relating to any
transaction, dealing, relationship, conduct, act or omission, or any other matters
or things occurring or existing at any time prior to and including the lapse of the
revocation period relating to the release as specified in Section 3.3(b) below.
This release includes but is not limited to any Claims against any of the Employer
Parties based on, relating to or arising under wrongful discharge, retaliation,
breach of contract (whether oral or written), tort, fraud, defamation, slander,
breach of privacy, violation of public policy, negligence, promissory estoppel,
Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act,
the Americans with Disabilities Act, ERISA, or any other federal, common, state or
local law relating to employment (or unemployment), the payment of wages, salary or
other compensation, civil or human rights, or discrimination in employment (based on
age or any other factor) in all cases arising out of or relating to the Employee’s
employment by the Employer or any subsidiary thereof or the termination of such
employment; provided, however, that this release will not limit or release (i) the
Employee’s rights under the Plan, (ii) the Employee’s rights to indemnification from
the Employer in respect of his services as a

	 	 	 	 	 	 	 
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	 	   	director, officer or employee of the
Employer or any of its subsidiaries as provided by law, any indemnification
agreements to which the Employee and the Employer or any of its subsidiaries are
parties, or the certificates of incorporation or by-laws (or like constitutive
documents) of the Employer or any subsidiary thereof, (iii) the Employee’s
entitlement, if any, to continued medical and dental insurance coverage under and
pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, or (iv) any
rights of the Employee under the Employer’s 401(k) plan and any other qualified
retirement plan, if any. The Employee, on behalf of himself and the Employee
Parties, hereby agrees to covenant, in connection with the delivery of consideration
due pursuant to the Plan, to forever not to assert, file, prosecute, commence, or
institute (or sponsor or purposely facilitate any person in connection with the
foregoing), any complaint or lawsuit or any legal, equitable or administrative
proceeding of any nature, against any of the Employer Parties in connection with any
Claims released as contemplated herein, and agrees to represent and warrant in
connection with the delivery of consideration due pursuant to the Plan that no other
person or entity has initiated or, to the extent within his control, will initiate
any such proceeding on his behalf, and that if such a proceeding is initiated, the
Employee shall accept no benefit therefrom.
	 
	 	(b)  	With respect to Employee’s agreement to release any claims for violations or
alleged violations of the Age Discrimination in Employment Act, as amended, Employee
acknowledges that the release contemplated herein is designed in a manner calculated to
be understood by him, that he understands the release, that
he will not waive any rights or claims that may arise after the revocation period
(related to the release) lapses, that he will waive any rights or claims only in
exchange for consideration in addition to anything of value to which he is already
entitled, that he is advised to consult with an attorney prior to executing the
release, that he will have a period of at least forty-five (45) days within which to
consider the release and, if applicable, the statistical and other information
provided to the Employee, and that he will have a period of at least seven (7) days
following the execution of the release within which to revoke the release. Employee
also agrees that within seven (7) days from the execution of the release, Employee
shall sign a reaffirmation of the release, at which time the release shall become
final and effective. Otherwise, the release shall not become final and effective,
but will instead become null and void, with no further action required of either
party. Employee shall not be entitled to any payments due pursuant to this Plan
until after the Employer receives from Employee a properly executed release and
reaffirmation agreement.

	3.4  	Voluntary Termination; Termination for Cause; Disability; Death. Notwithstanding any
other provision in the Plan to the contrary, any Eligible Employee who voluntarily
terminates or resigns from employment with the Employer, other than for Good Reason, any
Eligible Employee whose employment is terminated by the Employer for Cause, and any Eligible
Employee whose employment terminates on account of Disability or death shall receive no
severance benefits under the Plan. The Plan Administrator shall have absolute discretion,
exercised in good faith to determine whether an event constituting

	 	 	 	 	 	 	 
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	   	Cause or Good Reason
exists, in accordance with Sections 1.1(f) and 1.1(o), or whether a Disability has occurred.
If the Plan Administrator determines in good faith that an Eligible Employee has
voluntarily terminated or resigned for other than Good Reason, has been terminated for Cause
or has terminated employment on account of death or Disability, such Eligible Employee shall
not receive any severance benefits under the Plan. If the Plan Administrator determines
that an Eligible Employee voluntarily terminated or resigned employment with the Employer,
other than for Good Reason, has been terminated for Cause or terminated employment on
account of death or Disability, any benefits previously paid to the Eligible Employee
pursuant to Section 3.1 and Section 3.6 are due and payable by the Eligible Employee to the
Employer.
	 
	3.5  	Form of Benefit. Benefits payable under Section 3.1(a) shall be paid in a lump sum
benefit payable as soon as administratively practicable following the Eligible Employee’s
Involuntary Termination of Employment; provided, however, no amounts will be payable to an
Eligible Employee at any time prior to six (6) months from the Eligible Employee’s
Involuntary Termination of Employment if such payment will violate the limitations of
section 409A of the Code.
	 
	3.6  	Gross-Up for Certain Taxes. In the event that any payments to an Eligible
Employee pursuant to this Plan or any
payments received by the Eligible Employee or paid by the Employer on the Eligible
Employee’s behalf that are treated as contingent on a change in the ownership or effective
control of the Company or in the ownership of a substantial portion of the assets of the
Company (but only if such payment or other benefit is in connection with the Eligible
Employee’s employment relationship with the Employer) (the amount of all such payments,
collectively, the “Total Value”) shall result in the Eligible Employee becoming liable for
the payment of any excise taxes pursuant to section 4999 of the Internal Revenue Code of
1986, as amended (the “Code”) (“Excise Tax”), the Eligible Employee shall be entitled to an
additional payment equal to the amount of any Excise Taxes payable by the Eligible Employee
pursuant to section 4999 of the Code as a result of such payments plus all federal, state
and local taxes applicable to the Employer’s payment of such Excise Taxes, including any
additional taxes due under section 4999 of the Code with respect to payments made pursuant
to this provision. Calculations for these purposes shall assume the highest marginal rate
applicable at the time of calculation. The intent of this Section is to provide that the
Employer shall pay the Eligible Employee an additional amount (the “Gross-Up Payment”) such
that the net amount retained by the Eligible Employee after deduction (a) of any Excise Tax
imposed on the Total Value and (b) of any Excise Tax, federal, state or local income,
payroll, and/or other taxes, imposed on the Gross-Up Payment, shall equal the Total Value.
	 
	   	If the Eligible Employee determines that the Eligible Employee is liable for an Excise Tax
with respect to a payment or other benefit, the Eligible Employee must promptly so notify
the Employer in writing. Upon receipt of such notice from the Eligible Employee, the
Employer must, within twenty (20) days thereafter, either (i) notify the Eligible Employee,
in writing, that the Employer agrees with the Eligible Employee’s determination of Excise
Tax liability, in which case the Employer shall become obligated to immediately pay to the
Eligible Employee the Gross-Up Payment, or (ii) submit to the Eligible Employee an opinion,
prepared by counsel of the Employer’s choice which

	 	 	 	 	 	 	 
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	   	counsel is reasonably satisfactory to the
Eligible Employee, that the Eligible Employee is not liable for the Excise Tax (the “Tax
Opinion”).
	 
	   	If the Tax Opinion is provided to the Eligible Employee and the Eligible Employee chooses
not to contest the assessment, at any later time, by the Internal Revenue Service (“IRS”) of
the Excise Tax, the Employer shall be relieved of its obligation to make the Gross-Up
Payment specified hereunder. If the Eligible Employee chooses to contest the assessment, at
any later time, by the IRS of the Excise Tax after receipt of the Tax Opinion, the Eligible
Employee may do so with counsel of the Eligible Employee’s choice that is reasonably
satisfactory to the Employer and the reasonable legal fees and expenses of such contest
shall be paid by the Employer, on a monthly basis, subject to the Employer’s receipt of
proper documentation therefore. If the Excise Tax is contested, with counsel reasonably
satisfactory to the Employer, then the Employer shall pay to the Eligible Employee the
Gross-Up Payment upon the earlier of ten (10) days after (A) the entry of a final judgment,
decree, or other order by a court of competent jurisdiction that the Eligible Employee is
liable for the Excise Tax, or (B) a mutual determination of the
Eligible Employee and the Employer not to proceed further with the contest; provided,
however, such payment will not be paid prior to the date that is six (6) months after the
Employee’s Involuntary Termination of Employment if such payment will violate section 409A
of the Code. The Employer also shall reimburse the Eligible Employee at that time for any
penalties and interest attributable to any delay in payment of the Excise Tax that results
from a decision by the Eligible Employee not to pay the Excise Tax liability based upon the
Tax Opinion or a decision by the Employer not to pay the Excise Tax due to the Tax Opinion.
	 
	   	If the IRS notifies the Eligible Employee in writing that the Excise Tax will or may be
assessed against the Eligible Employee, if the Employer provides the Eligible Employee with
the Tax Opinion specified herein, and if the Eligible Employee chooses to contest the
assertion of the Excise Tax, then the Employer shall, provided counsel for the Employer
determines such action does not violate applicable law, obtain and deliver to the Eligible
Employee an irrevocable standby letter of credit (the “Letter of Credit”) (provided such
Letter of Credit does not jeopardize the “unfunded” status of the Plan or violate the
limitations of section 409A of the Code) issued by a bank acceptable to the Eligible
Employee and the Employer in an amount equal to the amount of the Employer’s potential
payment obligation herein including penalties and interest, computed as if the Excise Tax
were paid to the IRS on the date the Letter of Credit was obtained. Immediately upon the
earlier of (1) a determination letter (within the meaning of section 1313 of the Code) that
the Eligible Employee is not liable for the Excise Tax, or (2) the Employer’s payment to the
Eligible Employee of the full amount of its obligation herein, the Eligible Employee shall
mark the Letter of Credit “canceled” and return it to the Employer. In lieu of such a
Letter of Credit, the Employer may choose to secure its obligations hereunder by
establishing an appropriate escrow account with terms reasonably satisfactory to the
Eligible Employee, provided counsel for the Employer determines such action does not violate
applicable law, and by depositing therein the same amount as would be required for the
Letter of Credit. The obligations contained in this Section shall survive the termination
or expiration of the Eligible Employee’s employment with the Employer and shall be fully
enforceable thereafter.

	 	 	 	 	 	 	 
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	3.7  	Employment by Buyer. Notwithstanding the foregoing provisions of this Article
III, if (a) there shall be a sale or disposition of all or substantially all the assets
of the Company or a reorganization, merger or consolidation to which the Company is a party
and is not a surviving corporation, (b) such transaction constitutes a Change in Control and
(c) an Eligible Employee is offered employment (on terms that would not give rise to Good
Reason if such employment was with the Employer) with the purchaser or Person into which the
Company is merged or consolidated, as applicable, or any of its affiliates (“Buyer”)
upon consummation of such transaction, then Eligible Employee shall not be entitled to the
severance compensation as provided in Section 3.1 as a result of such transaction.
In any such event, however, Eligible Employee shall be entitled to such severance
compensation as provided in Section 3.1 if, within 12 months after such Change in
Control, either (i)
such Eligible Employee’s employment with the Buyer shall be terminated by the Buyer other
than on account of Cause or such Eligible Employee’s death or Disability, or (ii) such
Eligible Employee shall voluntarily terminate or resign from employment with the Buyer for
Good Reason. For purposes of this paragraph, the time of a termination of employment or
resignation, and the definitions of “Disability,” “Cause” and “Good Reason” shall be
construed with reference to the Buyer instead of with reference to the Company.
	 
	3.8  	Termination in Anticipation of Change in Control. If an Eligible Employee’s employment
is terminated pursuant to an Involuntary Termination of Employment prior to a Change in
Control and such Eligible Employee reasonably demonstrates to the Plan Administrator that
such termination, or act or event giving rise to Good Reason, (a) was at the request of a
Person who has indicated an intention or taken steps reasonably calculated to effect a
Change in Control and who effectuates a Change in Control or (b) otherwise occurred in
connection with, or in anticipation of, a Change in Control , and in the case of either
clause (a) or clause (b), a Change in Control actually occurs, then for all purposes hereof,
a Change in Control shall be deemed to have occurred and the date of a Change in Control
with respect to the employment shall mean the date immediately prior to the termination
date. Any claim by an Eligible Employee that an Involuntary Termination of Employment
occurred in connection with or in anticipation of a Change in Control shall be submitted to
the Plan Administrator pursuant to Article IV. If, following the review of such claim
(including the arbitration provisions of Article IV), it is determined that an Involuntary
Termination of Employment occurred in connection with or in anticipation of a Change in
Control, then the date of such determination shall be deemed to be the date of termination
of employment for purposes of Section 3.2(b)(ii)(A).

ARTICLE IV

CLAIMS PROCEDURE

	4.1  	Claims That Do Not Involve a Determination of Disability. This Section 4.1 sets forth
the procedures governing claims for benefits under the Plan other than any claim for
benefits where the Plan Administrator makes a determination of a Disability described in

	 	 	 	 	 	 	 
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	   	Section 1.1(j)(ii). Claims for benefits by an Eligible Employee or a Beneficiary (a
“Claimant”) must be in writing and mailed or delivered to the Plan Administrator.

	 	(a)  	Notice of Benefit Determination. Within a reasonable period of time, but not
more than ten (10) days after receipt of a claim, a decision will be made thereon,
unless special circumstances require an extension of time for processing the claim. If
such extension is required, written notice shall be furnished to the Claimant within
ten (10) days of the date the claim was filed stating the specific
circumstances requiring an extension of time and the date by which a decision on the
claim can be expected, which shall be no more than forty (40) days from the date the
claim was filed. If no notice of denial is provided as described herein, the
Claimant may appeal as though the claim had been denied.
	 
	 	   	If the Plan Administrator denies a claim for benefits under the Plan in whole or in
part, he or she will give written notice thereof to the Claimant, setting forth in a
manner calculated to be understood by the Claimant (i) the specific reason or
reasons for the denial, (ii) specific reference to the pertinent Plan provisions on
which the denial is based, (iii) a description of any additional materials or
information necessary for the Claimant to perfect the claim, (iv) an explanation of
why such material or information is necessary, (v) how and when to appeal the
decision, and (vi) the right of the Claimant to submit a claim to binding
arbitration, pursuant to Section 4.3, after completing the appeal process described
below.
	 
	 	   	Such notice also will explain that, upon written request mailed or delivered to the
Plan Administrator within sixty (60) days after such denial, Claimant may have a
full and fair review by the Plan Administrator of the decision denying the claim.
	 
	 	(b)  	Full and Fair Review of Adverse Benefit Determination. Such review will be
conducted by the Plan Administrator in a hearing at his or her office at such time as
he or she designates. The Plan Administrator will give written notice of such place
and time to the Claimant a reasonable time before the hearing. At the hearing, the
Claimant may present evidence, examine the evidence against the Claimant, review
pertinent documents, submit issues, comments, documents, records or other information
to support the Claimant’s rights to benefits (without regard to whether such
information was submitted or considered in the initial claim), and make arguments, all
in person, in writing, by counsel or any combination thereof. The Claimant will be
provided, upon request and free of charge, reasonable access to, and copies of, all
documents, records, and other information relevant to the Claimant’s claim. The Plan
Administrator may apply such reasonable rules of evidence as he deems appropriate.
	 
	 	(c)  	Notice of Benefit Determination on Review. Within a reasonable time after the
hearing, not later than ten (10) days after the Plan Administrator receives the request
for review (unless, due to unusual circumstances this period is extended by up to
thirty (30) additional days if the Claimant is given notice of the extension before the
initial ten (10) days has expired), the Plan Administrator will make a decision and
give the Claimant written notice thereof, setting forth (i) the specific

	 	 	 	 	 	 	 
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	 	   	reasons for
the decision, written in a manner calculated to be understood by the Claimant, (ii)
specific references to the pertinent Plan provisions on which the decision is based,
(iii) a statement that the Claimant is entitled to receive, upon request and free of
charge, reasonable access to, and copies of, all documents, records and other
information relevant to the claim, and (iv) a statement about the Claimant’s right to
submit a claim to arbitration pursuant to Section 4.3 below.
The Plan Administrator has discretion to make the decision; therefore the decision
of the Plan Administrator shall be final and binding.

	4.2  	Claims Involving a Determination of Disability. This Section 4.2 sets forth the
procedures governing claims for benefits under the Plan where the Plan Administrator makes a
determination of a Disability described in Section 1.1(j)(ii). Claims for benefits by a
Claimant pursuant to this Section 4.2 must be made in writing and mailed or delivered to the
individual or committee appointed by the Plan Administrator as the “Benefit Claims Board.”

	 	(a)  	Notice of Benefit Determination. Within a reasonable period of time, but not
more than ten (10) days after receipt of a claim, a decision will be made thereon,
unless special circumstances require an extension of time for processing the claim. If
such extension is required, written notice shall be furnished to the Claimant within
ten (10) days of the date the claim was filed stating the specific circumstances
requiring an extension of time and the date by which a decision on the claim can be
expected, which shall be no more than forty (40) days from the date the claim was
filed. If no notice of denial is provided as described herein, the Claimant may appeal
as though the claim had been denied.
	 
	 	   	If the Benefit Claims Board denies a claim for benefits under the Plan in whole or
in part, it will give written notice thereof to the Claimant, setting forth in a
manner calculated to be understood by the Claimant (i) the specific reason or
reasons for the denial, (ii) specific reference to the pertinent Plan provisions on
which the denial is based, (iii) a description of any additional materials or
information necessary for the Claimant to perfect the claim, (iv) an explanation of
why such material or information is necessary, (v) how and when to appeal the
decision, (vi) if an internal rule, guideline, protocol or other similar criterion
was relied upon in making the adverse benefit determination, such criterion or a
statement that such criterion was relied upon and that a copy of the criterion will
be provided free of charge to the Claimant upon request, (vii) the right of a
Claimant to submit a claim to arbitration, pursuant to Section 4.3, after completing
the appeal process described below, and (viii) the right of the Claimant to bring a
civil action under section 502(a) of ERISA after completing the appeal process
described below.
	 
	 	   	Such notice also will explain that, upon written request mailed or delivered to the
Plan Administrator within 180 days after such denial, Claimant may have a full and
fair review by the Plan Administrator of the decision denying the claim.
	 
	 	(b)  	Full and Fair Review of Adverse Benefit Determination. Such review will be
conducted by the Plan Administrator in a hearing at his or her office at such time

	 	 	 	 	 	 	 
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	 	   	as
he or she designates. The Plan Administrator will give written notice of such place
and time to the Claimant a reasonable time before the hearing. At the hearing, the
Claimant may present evidence, examine the evidence against the Claimant, review
pertinent documents, submit issues, comments, documents,
records or other information to support the Claimant’s rights to benefits (without
regard to whether such information was submitted or considered in the initial
claim), and make arguments, all in person, in writing, by counsel or any combination
thereof. The Claimant will be provided, upon request and free of charge, reasonable
access to, and copies of, all documents, records, and other information relevant to
the Claimant’s claim. The review by the Plan Administrator will not afford
deference to the Benefit Claims Board. If the adverse benefit determination is
based in whole or in part on medical judgment, the Plan Administrator will consult
with a health care professional who has appropriate training and experience in the
field of medicine involved in the medical judgment and who is neither an individual
who was consulted by the Benefit Claims Board or a subordinate of the Plan
Administrator. The Claimant will also be provided with the identification of
medical or vocational experts whose advice was obtained on behalf of the Plan in
connection with the adverse benefit determination. The Plan Administrator may apply
such reasonable rules of evidence as he deems appropriate.
	 
	 	(c)  	Notice of Benefit Determination on Review. Within a reasonable time after the
hearing, not later than ten (10) days after the Plan Administrator receives the request
for review (unless, due to unusual circumstances this period is extended by up to
thirty (30) additional days if the Claimant is given notice of the extension before the
initial ten (10) days has expired), the Plan Administrator will make a decision and
give the Claimant written notice thereof, setting forth (i) the specific reasons for
the decision, written in a manner calculated to be understood by the Claimant, (ii)
specific references to the pertinent Plan provisions on which the decision is based,
(iii) a statement that the Claimant is entitled to receive, upon request and free of
charge, reasonable access to, and copies of, all documents, records and other
information relevant to the claim, (iv) a statement about the Claimant’s right to
submit a claim to arbitration, pursuant to Section 4.3, (v) a statement about the
Claimant’s right to bring an action under section 502(a) of ERISA, (vi) if an internal
rule, guideline, protocol, or other similar criterion was relied upon, either the
specific rule, guideline, protocol, or other similar criterion, or a statement that
such rule, guideline, protocol, or other similar criterion will be provided free of
charge to the Claimant upon request, and (vii) the following statement, “You and your
plan may have other voluntary alternative dispute resolution options, such as
mediation. One way to find out what may be available is to contact your local U.S.
Department of Labor Office and your State insurance regulatory agency.” The Plan
Administrator has discretion to make the decision; therefore the decision of the Plan
Administrator shall be final and binding.

	4.3  	Arbitration. In the event any claim, demand, cause of action, dispute, controversy or
other matter in question (“Claim”) arises out of this Plan (or its termination), whether
arising in contract, tort or otherwise and whether provided by statute, equity or common

	 	 	 	 	 	 	 
	RANGE RESOURCES CORPORATION
	 	 	 	 	 	 
	EXECUTIVE CHANGE IN CONTROL
	 	 	 	 	 	 
	SEVERANCE BENEFIT PLAN

	 	 	15	 	 	 

 

 

	   	law, that the Employer may have against an Employee or that an Employee may have against the
Employer, or any of the Employer’s subsidiaries, or any of the foregoing entities’
respective officers, directors, employees or agents in their capacity as such or otherwise,
and is not resolved by the mutual written agreement between the Employee and the Employer,
or otherwise, within ten (10) days after notice of determination on review is provided
pursuant to Section 4.1 or Section 4.2, as applicable, then, upon the written request of the
Employee or the Employer, such dispute or controversy shall be submitted to binding (to the
extent provided by ERISA for claims brought pursuant to Section 4.2) arbitration following
the exhaustion of the claims procedures described in Section 4.1 and 4.2 above. Any
arbitration shall be conducted in accordance with the Federal Arbitration Act (“FAA”) and,
to the extent an issue is not addressed by the FAA or the FAA does not apply, with the
then-current National Rules for the Resolution of Employment Disputes of the American
Arbitration Association (“AAA”) or other rules of the AAA as applicable to the claims
asserted. If a party refuses to honor its obligations under this Section, the other party
may compel arbitration in either federal or state court. The arbitrators shall apply the
substantive law of Delaware (excluding Delaware choice-of-law principles that might call for
the application of some other state’s law) or federal law, or both as applicable to the
claims asserted. The arbitrators shall have exclusive authority to resolve any dispute
relating to the interpretation, applicability or enforceability of this Section, including
any claim that all or part of the Plan is void or voidable and any claim that an issue is
not subject to arbitration. The results of arbitration will be binding and conclusive on
the parties hereto (to the extent provided by ERISA for claims brought pursuant to Section
4.2). Any arbitrators’ award or finding or any judgment or verdict thereon will be final
and unappealable (except to the extent an Employee’s Claim is subject to Section 4.2, in
which case the Employee may have recourse to section 502(a) of ERISA). All parties agree
that venue for arbitration will be in Tarrant County, Texas, and that any arbitration
commenced in any other venue will be transferred to Tarrant County, Texas, upon the written
request of a party to the arbitration. The prevailing party will be entitled to
reimbursement for reasonable attorneys fees, reasonable costs and other reasonable expenses
pertaining to the arbitration and the enforcement thereof and such attorneys fees, costs and
other expenses shall become a part of any award, judgment or verdict. All arbitrations will
have three individuals acting as arbitrators: one arbitrator will be selected by the
Employee, one arbitrator will be selected by the Employer, and the two arbitrators so
selected will select a third arbitrator; provided that (a) the Employee or the Employer
shall use reasonably diligent efforts to select their respective arbitrator within sixty
(60) days after a matter is submitted to arbitration and (b) the parties (including
arbitrators) shall not be limited to selecting arbitrators from only the AAA’s lists of
arbitrators. Any arbitrator selected by a party will not be affiliated, associated or
related to the party selecting that arbitrator in any matter whatsoever. The arbitrators
may use the AAA rules, but are encouraged to adopt rules the arbitrators deem appropriate to
accomplish the arbitration quickly and inexpensively. Accordingly, the arbitrators may (i)
dispense with any formal rules of evidence and allow hearsay testimony so as to limit the
number of witnesses required, (ii) act upon their understanding or interpretation of the law
on any issue without the obligation to research the issue or accept or act upon briefs on
the issue prepared by any party, (iii) limit the time for presentation of any party’s case
as well as the amount of

	 	 	 	 	 	 	 
	RANGE RESOURCES CORPORATION
	 	 	 	 	 	 
	EXECUTIVE CHANGE IN CONTROL
	 	 	 	 	 	 
	SEVERANCE BENEFIT PLAN

	 	 	16	 	 	 

 

 

	   	information or number
of witnesses to be presented in connection with any hearing (provided that each party shall
have the right to call at least three witnesses), and (iv) impose any other rules which the
arbitrators believe appropriate to effect a resolution of the claims quickly and
inexpensively. The types and amount of discovery shall be conducted in accordance with the
Federal Rules of Civil Procedure. The arbitration hearing shall be conducted within sixty
(60) days after the selection of the arbitrators. All privileges under state and federal
law, including attorney-client, work product and party communication privileges, shall be
preserved and protected. The decision of the majority of the arbitrators will be binding on
all parties (except to the extent an Employee’s Claim is subject to Section 4.2, in which
case the Employee may have recourse to section 502(a) of ERISA). Arbitrations will be
conducted in a manner so that the final decision of the arbitrators will be made and
provided to the Employee and the Employer no later than 120 days after a matter is submitted
to arbitration. All proceedings conducted pursuant to this Section, including any order,
decision or award of the arbitrators, shall be kept confidential by all parties. THE
EMPLOYEE ACKNOWLEDGES THAT BY PARTICIPATING IN THE PLAN, THE EMPLOYEE IS WAIVING ANY RIGHT
THAT THE EMPLOYEE MAY HAVE TO A JURY TRIAL OR A COURT TRIAL IN CONNECTION WITH, OR RELATING
TO, A CLAIM BROUGHT UNDER SECTION 4.1 HEREOF.

ARTICLE V

FUNDING OF THE PLAN

	5.1  	Source of Benefits. Benefits under the Plan shall be unfunded and shall be provided
from the general assets of the Employer.

ARTICLE VI

ADMINISTRATION OF THE PLAN

	6.1  	Plan Administration and Interpretation. The Plan Administrator shall oversee the
administration of the Plan. The Plan Administrator shall have complete control and
authority to determine the rights and benefits of all claims, demands and actions arising
out of the provisions of the Plan of any Employee, Beneficiary, deceased Employee, or other
person having or claiming to have any interest under the Plan. The Plan Administrator shall
have complete discretion to interpret the Plan and to decide all matters under the Plan.
Such interpretation and decision shall be final, conclusive and binding on all Employees and
any person claiming under or through any Employee, in the absence of clear and convincing
evidence that the Plan Administrator acted arbitrarily and capriciously. Any individual(s)
serving as Plan
Administrator who is an Eligible Employee will not vote or act on any matter pertaining
solely to himself or herself. When making a determination or calculation, the Plan
Administrator shall be entitled to rely on information furnished by an Employee, a
Beneficiary, or the Employer. The Plan

	 	 	 	 	 	 	 
	RANGE RESOURCES CORPORATION
	 	 	 	 	 	 
	EXECUTIVE CHANGE IN CONTROL
	 	 	 	 	 	 
	SEVERANCE BENEFIT PLAN

	 	 	17	 	 	 

 

 

	   	Administrator shall have the responsibility for
complying with any reporting and disclosure requirements of ERISA.
	 
	6.2  	Powers, Duties and Procedures, Etc. The Plan Administrator shall have such powers and
duties, may adopt such rules, may act in accordance with such procedures, may appoint such
officers or agents, and may delegate such powers and duties, as it shall determine in its
sole discretion.
	 
	6.3  	Information. To enable the Plan Administrator to perform its functions, the Employer
shall supply full and timely information to the Plan Administrator on all matters relating
to the Base Salary, and/or Bonus of Eligible Employees, their employment, death, termination
of employment, and such other pertinent facts as the Plan Administrator may require.
	 
	6.4  	Indemnification of Plan Administrator. The Employer agrees to indemnify and to defend
to the fullest extent permitted by law any director(s), officer(s), or employee(s) who serve
as Plan Administrator (including any such individual who formerly served as Plan
Administrator), or to whom any administrative duties with respect to the Plan have been
delegated, against all liabilities, damages, costs and expenses (including attorneys’ fees
and amounts paid in settlement of any claims approved by the Employer) occasioned by any act
or omission to act in connection with the Plan, if such act or omission was performed in
good faith.

ARTICLE VII

AMENDMENT AND TERMINATION OF THE PLAN

	7.1  	Right to Amend. Notwithstanding any provision of any other communication, either oral
or written, made by the Employer, by the Plan Administrator, or by any other individual or
entity to employees, to any service provider, or to any other individual or entity, the Plan
Administrator reserves the absolute and unconditional right to amend the Plan from time to
time on behalf of the Employer, including the right to reduce or eliminate benefits provided
pursuant to the provisions of the Plan as such provisions currently exist or may hereafter
exist, and the right to amend prospectively or retroactively; provided, however, (a) the
Plan may not be amended to decrease benefits payable to Eligible Employees during the
Protection Period and (b) no amendment may at any time decrease or diminish in any manner
adverse to any then current Eligible Employee any rights or benefits of
such Eligible Employee under this Plan without such Eligible Employee’s prior written
consent . All amendments to the Plan shall be in writing and executed by a duly authorized
representative of the Plan Administrator, and any oral statements or representations made by
the Employer, by the Plan Administrator, or any other individual or entity that alter,
modify, amend, or are inconsistent with the written terms of the Plan shall be invalid and
unenforceable and may not be relied upon by any Employee, Beneficiary, service provider, or
other individual or entity.

	 	 	 	 	 	 	 
	RANGE RESOURCES CORPORATION
	 	 	 	 	 	 
	EXECUTIVE CHANGE IN CONTROL
	 	 	 	 	 	 
	SEVERANCE BENEFIT PLAN

	 	 	18	 	 	 

 

 

	7.2  	Plan Term. This Plan shall be effective as of its adoption by the Board and shall
continue through December 31, 2005, subject to following:

	 	(a)  	As of December 31, 2005, and on each December 31 thereafter, the term of the
Plan shall automatically be extended for one additional year unless, not later than the
preceding November 30, the Employer shall by resolution of the Board provide that the
Plan’s term shall not be extended.
	 
	 	(b)  	If a Change in Control shall have occurred during the term of the Plan (as it
may be extended from time to time), the term of the Plan shall continue until the
expiration of the Protection Period and, following an extension in accordance with this
Section 7.2(b), no further extensions shall occur under Section 7.2(a). The term of
the Plan shall end on the last day of the Protection Period.
	 
	 	(c)  	Expiration of the term of the Plan shall not affect the ability of Eligible
Employee’s or the Employer to enforce their rights under the terms of this Plan with
respect to benefits to which they become entitled prior to the expiration of the term
of this Plan.

	7.3  	Effect of Termination. If the Plan is terminated, each Eligible Employee shall have no
further rights hereunder, and the Employer shall have no further obligations hereunder,
except as otherwise specifically provided under the terms of the Plan; provided, however,
that no termination shall diminish any vested accrued benefits arising from incurred but
unpaid claims of Eligible Employee or Beneficiaries existing prior to the effective date of
such termination.

ARTICLE VIII

MISCELLANEOUS PROVISIONS

	8.1  	Nondisparagement. In return for consideration
due to an Employee under the Plan, each Employee agrees that
he shall be prohibited from disparaging the Employer, the Board, the Employer’s executives,
its employees and its products or services during his period of employment and thereafter.
Similarly, the Employer is prohibited from disparaging the Employee during his period of
employment and thereafter. For purposes of this Section, disparagement does not include (a)
compliance with legal process or subpoenas to the extent only truthful statements are
rendered in such compliance attempt, (b) statements in response to an inquiry from a court
or regulatory body, and (c) statements or comments in rebuttal of media stories or alleged
media stories. The violation of this Section shall entitle the Employer or Employee, as
applicable, to complete relief from such violation including, but not limited to, injunctive
relief, damages as determined by an arbitrator, a termination of payments pursuant to the
Plan and a return of all payments paid pursuant to the Plan.
	 
	8.2  	No Guarantee of Employment. Nothing herein shall alter the presumption of employment at
will. Nothing herein shall be construed to be a contract between the

	 	 	 	 	 	 	 
	RANGE RESOURCES CORPORATION
	 	 	 	 	 	 
	EXECUTIVE CHANGE IN CONTROL
	 	 	 	 	 	 
	SEVERANCE BENEFIT PLAN

	 	 	19	 	 	 

 

 

	   	Employer and an
Employee, or to be consideration for or an inducement of the employment of any individual by
the Employer. Nothing herein shall grant any Employee the right to be retained in the
service of the Employer or limit in any way the right of the Employer to discharge or
terminate the service of any Employee at any time, without regard to the effect such
discharge or termination may have on any rights under the Plan.
	 
	8.3  	Payments to Minors and Incompetents. If an Eligible Employee or beneficiary entitled to
receive any benefits under the Plan is a minor, is determined by the Plan Administrator to
be incompetent, or is adjudged by a court of competent jurisdiction to be legally incapable
of giving valid receipt and discharge for benefits provided under the Plan, the Plan
Administrator may pay such benefits to the duly appointed guardian or conservator of such
person or to any third party who is authorized (as determined by the Plan Administrator) to
receive any benefit under the Plan for the Eligible Employee or Beneficiary. Such payment
shall fully discharge all liabilities and obligations of the Plan Administrator under the
Plan with respect to such benefits.
	 
	8.4  	No Vested Right to Benefits. No Eligible Employee, nor anyone claiming a benefit
through such Eligible Employee, shall have any right to or interest in any benefits
hereunder, except as specifically provided herein.
	 
	8.5  	Non-alienation of Benefits. Except as the Plan Administrator may otherwise permit by
rule or regulation, no interest in or benefit payable under the Plan shall be subject in any
manner to
anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, or charge, and
any attempt by an Employee to anticipate, alienate, sell, transfer, assign, pledge,
encumber, or charge the same shall be void and of no effect; nor shall any interest in or
benefit payable under the Plan be in any way subject to any legal or equitable process,
including garnishment, attachment, levy, seizure, or lien. This provision shall be
construed to provide each Employee, or other person claiming any interest or benefit in the
Plan through an Employee, with the maximum protection afforded such Employee’s interest in
the Plan (and benefits thereunder) by law against alienation or encumbrance and against any
legal and equitable process, including garnishment, attachment, levy, seizure, or lien.
	 
	8.6  	Jurisdiction. Except to the extent ERISA or any other federal law applies to the Plan
and preempts state law, the Plan shall be construed, enforced, and administered according to
the laws of the State of Texas without regard to its choice of law principles.
	 
	8.7  	Severability. If any provision of the Plan is held illegal, invalid, or unenforceable
for any reason, that holding shall not affect the remaining provisions of the Plan.
Instead, the Plan shall be construed and enforced as if the illegal, invalid, or
unenforceable provision had not been included herein.
	 
	8.8  	Withholding. The Employer may withhold from any amounts payable under this Plan such
federal, state or local taxes as shall be required to be withheld pursuant to any applicable
law or regulation. The Employer may also withhold from such amounts any loans or other
amounts due to the Employer by the Employee.

	 	 	 	 	 	 	 
	RANGE RESOURCES CORPORATION
	 	 	 	 	 	 
	EXECUTIVE CHANGE IN CONTROL
	 	 	 	 	 	 
	SEVERANCE BENEFIT PLAN

	 	 	20	 	 	 

 

 

	8.9  	Overpayment. If, due to mistake or for any other reason, a Person receives benefits
under the Plan in excess of what the Plan provides, that Person shall repay the overpayment
to the Employer in a lump sum within thirty (30) days of notice of the amount of
overpayment. If that Person fails to repay the overpayment, then without limiting any other
remedies available to the Employer, the Employer may deduct the amount, to the extent
allowable by law, of the overpayment from any other amounts payable to the Person. No
benefit shall be payable under both the Plan and any other change in control plan or
arrangement in effect prior to the adoption of the Plan. It is intended that the Plan will
supercede any change in control plans or arrangements in effect prior to the adoption of the
Plan.
	 
	8.10  	Successors.

	 	(a)  	This Plan shall be binding upon, and inure to the benefit of, the Employer,
Employees, and their respective successors, assigns, personal and legal
representatives, executors, administrators, heirs, distributees, devisees, and
legatees, as applicable.
	 
	 	(b)  	The Employer will require any successor (whether direct or indirect, by
purchase of securities, merger, consolidation, sale of assets, or otherwise), to all or
substantially all of the business or assets of the Employer, to expressly assume the
Plan and to agree to perform under this Plan in the same manner and to the same extent
that the Employer would be required to perform it if no such succession had taken
place. Failure of the Employer to obtain such agreement prior to the effectiveness of
any such succession shall entitle Eligible Employees to compensation from the Employer
in the same amount and on the same terms as they would be entitled to hereunder if they
incurred an Involuntarily Termination of Employment immediately following a Change in
Control.

	 	 	 	 	 	 	 
	RANGE RESOURCES CORPORATION
	 	 	 	 	 	 
	EXECUTIVE CHANGE IN CONTROL
	 	 	 	 	 	 
	SEVERANCE BENEFIT PLAN

	 	 	21	 	 	 

 

 

Exhibit 10.2

 

RANGE RESOURCES CORPORATION

EXECUTIVE CHANGE IN CONTROL

SEVERANCE BENEFIT PLAN

PARTICIPATION AGREEMENT

[Date]

[Name

	 	 	 
	 
	 	 
	 
	 	 
	 
	]	 

          Re: Participation Agreement under the Range Resources Corporation Executive Change
In Control Severance Benefit Plan

Dear [Name]:

          The board of directors (the “Board”) of Range Resources Corporation (the “Company”) has
adopted the Range Resources Corporation Executive Change in Control Severance Benefit Plan (the
“Plan”) for a select group of management or highly compensated employees of the Company. You have
been selected by the Compensation Committee of the Board to participate in the Plan. A copy of the
Plan is being furnished to you concurrently with this Participation Agreement (the “Agreement”) and
shall be deemed a part of this Agreement as if fully set forth herein.

          Your “benefit multiple” for purposes of Sections 3.1(a) and (b) of the Plan is
_________.

          By executing this Agreement, you indicate that you have read, understood and agree to the
terms of the Plan, including, but not limited to, Section 3.3 (regarding a general release, in the
form acceptable to the Company, to be executed by you) and Section 8.1 (regarding
nondisparagement). If you do not execute and return a copy of this Agreement to the Company,
within twenty (20) days of the date indicated above, indicating your acceptance of the terms and
conditions of the Plan, you will not be eligible to receive benefits thereunder.

	 	 	 	 	 
	 	RANGE RESOURCES CORPORATION 

 	 
	 	By:  	 	 
	 	 	Name:  	Rodney L. Waller 	 
	 	 	Title:  	Senior Vice President 	 
	 

ACCEPTED:

	 	 	 
	 

	 	 
	[Name of Recipient]

	 	 

	 	 	 	 	 
	Date:

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