Document:

Ex1037AmendmenttoHollisEmploymentAgreement

Exhibit 10.37

FIRST AMENDMENT 
TO AMENDED AND RESTATED 
EMPLOYMENT AGREEMENT
First Amendment effective as of January 1, 2013 (this “Amendment”) to the Amended and Restated Employment Agreement dated as of January 1, 2012 (the “Employment Agreement”) by and between Windsor Permian LLC and Michael Hollis (“Employee”), as subsequently assigned to Diamondback E&P LLC (the “Company”).  Capitalized terms used but not defined in this Amendment shall have the meanings ascribed to them in the Employment Agreement.
RECITALS
WHEREAS, the Company and Employee are parties to the Employment Agreement; and
WHEREAS, the Company and Employee desire to amend the Employment Agreement as set forth herein.
NOW, THEREFORE, in consideration of the foregoing and the covenants and agreements contained in this Amendment, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties, and intending to be legally bound, the parties agree as follows:
AGREEMENTS
ARTICLE I 
AMENDMENTS
1.1    Section 2(a) of the Employment Agreement is hereby deleted in its entirety and replaced with the following:
(a)    As compensation for services rendered under this Agreement, the Company shall pay to Employee a base salary (the “Base Salary”) at an annualized rate of $230,000, payable in accordance with the normal payroll procedures of the Company.  From time to time at the sole discretion of the Compensation Committee (the “Compensation Committee”) of the Board of Directors or Managers of the Company, Employee’s Base Salary may be reviewed by the Compensation Committee and may be increased or decreased, but not decreased below $230,000, by the Compensation Committee in its sole discretion.  The term “Base Salary” as used herein shall mean and refer to the then current base salary, as adjusted from time to time in accordance with this Section 2(a).  The Company shall deduct from the Base Salary amounts sufficient to cover applicable federal, state and/or local income tax withholdings and any other amounts that the Company is required to withhold by applicable law.
ARTICLE II
MISCELLANEOUS
2.1    Effect of Amendment; Amendment.  Other than the amendments and modifications set forth herein, the Employment Agreement remains in full force and effect. This Amendment may only be modified or amended if such modification or amendment is set forth in a written instrument executed by each party.
2.2    Headings.  The headings contained in this Amendment are for convenience only and shall not affect the meaning or interpretation of this Amendment.
2.3    Governing Law.  This Amendment shall be governed, including as to validity, interpretation and effect, by the laws of the State of Texas without giving effect to any choice of law or conflicts of law rules or provisions thereof.    
2.4    Rules of Construction.  Each party hereto has participated in the drafting of this Amendment, which each party acknowledges is the result of negotiations between the parties.  If an ambiguity or question of intent or interpretation arises, this Amendment shall be construed as if drafted jointly by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision.

IN WITNESS WHEREOF, the undersigned have executed this Amendment on the ___ day of January, 2013, to be effective as of the date first written above.
        	
						
	 
	 
	 
	 
	DIAMONDBACK E&P, LLC

	 
	 
	 
	 
	 

	/s/ Michael Hollis
	 
	By:
	/s/ Travis D. Stice
	 

	Michael Hollis
	 
	Name:
	Travis D. Stice
	 

	 
	 
	 
	Title:
	President and CEO
	 

2Ex1038-FormofAmendemnttoRSUCertificate

Exhibit 10.38

DIAMONDBACK ENERGY, INC.
2012 EQUITY INCENTIVE PLAN
NOTICE OF AMENDMENT OF OUTSTANDING
RESTRICTED STOCK UNIT AWARD CERTIFICATE
	
				
	Name of Participant
	 
	 
	 

	 
	 
	 
	 

	RSU Award (#)
	 
	 
	 

	 
	 
	 
	 

	Number of Shares:
	 
	 
	 

	 
	 
	 
	 

	Date of Grant:
	 
	October 11, 2012
	 

	 
	 
	 
	 

	Effective Date of this Amendment:
	 
	April 5, 2013
	 

	 
	 
	 
	 

This is an amendment of the Restricted Stock Unit Award Certificate (the “Award”) entered into between you (“Participant”) and Diamondback Energy, Inc., a Delaware corporation (the “Company”), which was previously granted to you on the Offer Grant Date designated above (the “Prior Agreement”).  Your outstanding Award has been amended to change the designated Payment/Settlement Date provisions that determine when the Award will be settled and paid in the form of shares of the Company’s common stock.  Prior to this amendment, the Prior Agreement stated that shares of common stock will be paid on the specified vesting dates, except Restricted Stock Units that vest on the Date of Grant will not be settled until the first business day coincident with or next following the date of expiration of the lock-up agreement entered into by the Company and certain officers and Directors in connection with the Company’s initial public offering.  The expiration of the lock-up agreement on April 9, 2013 does not occur during an open trading window under the Company’s insider trading policy.  The revised Payment/Settlement Dates under this Award amendment reflects the extension of the Payment/Settlement Date until the first business day coincident with or next following the first open trading window to occur after the Effective Date of this Amendment (currently contemplated to begin two days after the Company’s earnings release for the first fiscal quarter).
Payment Date
The Payment/Settlement Date specified in your Award for RSUs is hereby amended to change the settlement date when stock is transferred under the Award as follows:
		
	Payment/Settlement Date:
	Shares of common stock will be paid on the specified vesting dates, except Restricted Stock Units that vest on the Date of Grant and on or before the first open trading window to occur after the Effective Date of this Amendment will not be settled until the first business day coincident with or next following the date of the first open trading window to occur after the Effective Date of this Amendment, but not later than December 31, 2013.  

1

Exhibit 10.38

Agreement
By your signature and the signature of the Company’s representative below, you and the Company agree that this amended Restricted Stock Unit Award Certificate is granted under and governed by the terms and conditions of the Diamondback Energy, Inc. 2012 Equity Incentive Plan and the Prior Agreement, which is incorporated herein by this reference.  PLEASE READ SUCH PRIOR AGREEMENT IN CONJUNCTION WITH THIS NOTICE OF AMENDMENT.
	
							
	Participant:
	 
	 
	Diamondback Energy, Inc.

	 
	 
	 

	 
	 
	, an individual
	 
	 
	 
	, an individual

	 
	 
	 
	 
	 
	 
	 

	Dated:
	April  , 2013
	 
	 
	Dated:
	April  , 2013
	 

	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 

2Ex1039

Exhibit 10.39

LEASE AMENDMENT #6
DIAMONDBACK E & P LLC
FASKEN MIDLAND, LLC, (hereinafter called “Lessor”) and DIAMONDBACK E & P LLC, successor to Windsor Permian, LLC (hereinafter called “Lessee”), for good and valuable consideration the receipt of which is hereby acknowledged, do hereby amend that certain Lease Agreement dated April 19, 2011, Lease Amendment #1 dated June 6, 2011, Lease Amendment #2 dated August 5, 2011 (surrendered September 30, 2012), Lease Amendment #3 dated September 28, 2011, Lease Amendment #4 dated February 6, 2012 and Lease Amendment #5 dated July 25, 2012 (collectively the “Lease Agreement”), covering approximately 7,428 square feet of Net Rentable Area located on Level Twelve (12) of One Fasken Center at 500 West Texas Avenue, Midland, Texas 79701, also known as Suite 1210, under the following terms and conditions:
		
	1.
	LEASED PREMISES.  Effective May 1, 2013, the provisions of paragraph 1.5 are hereby deleted and the following substituted in lieu thereof:

“1.  LEASED PREMISES.  Approximately 7,965 square feet of Net Rentable Area located on Level Twelve (12) as more fully diagrammed on the floor plan of such premises attached hereto and made a part hereof as “Exhibit B-l”, together with a common area percentage factor determined by Lessor (the “Leased Premises”).  Said Leased Premises is comprised of approximately 1,586 square feet of Net Rentable Area in the Original Leased Premises together with approximately 1,489 square feet of Net Rentable Area (the “Suite 1220 Expansion Space”), approximately 1,997 square feet of Net Rentable Area (the “Suite 1225 Expansion Space”), 314 square feet of Net Rentable Area (the 12th Floor Expansion Space”), 2,042 square feet of Net Rentable Area (the “Suite 1280 Expansion Space”) and approximately 537 square feet of Net Rentable Area (the “Suite 1260 Expansion Space”).  Any statement of size or square footage set forth in the Lease Amendment or that may have been used in calculating Rent, Base Rent, Operating Expenses or any other charge to Lessee is an approximation, which the parties agree is reasonable and any payments based thereon are not subject to dispute.  Said demised space represents approximately 1.889% of the Total Net Rentable Area, such Total Net Rentable Area of the Building being approximately 421,546 square feet.”
		
	2.
	TERM.  The Lease Term for the Suite 1260 Expansion Space added by this amendment shall be for three (3) years and one (1) month, commencing May 1, 2013 and terminating May 31, 2016.

		
	3.
	RENT.  Effective May 1, 2013, the Base Rent table set forth on Exhibit C of the Lease, Section 2 (Rent) of Lease Amendment #1, Exhibit C-l of Lease Amendment #2, Exhibit C-2 of Lease Amendment #3, Exhibit C-3 of Lease Amendment #4 and Exhibit C-4 of Lease Amendment #5 are hereby deleted and the attached Exhibit C-5 shall be substituted in lieu thereof.

		
	4.
	FINISH OUT.  Lessee accepts the Leased Premises in “as is” condition and no other finish out shall be required of Lessor.  Any alterations to the Leased Premises shall be at Lessee’s sole expense and responsibility.

		
	5.
	PARKING.  Effective May 1, 2013, Lessor agrees to provide up to one (1) additional parking spaces in the attached parking garage, at the following rates per space per month plus applicable sales tax at Lessee’s election herein:

_____ @ $125.00 per space per month for Officer Reserved (Basement & Level One) — space may be limited, if available

_____ @ $95.00 per space per month for Preferred Reserved (Level Two and above) — space may be limited, if available
  1   @ $75.00 per space per month for General Unreserved
The parking spaces set forth in this section shall be for Lessee and/or Lessee’s employees and Lessor shall have the right to assign parking space as conditions permit.  However, Lessor shall not be required to police the use of these spaces.  Lessor may make, modify and enforce rules and regulations relating to the parking of automobiles in the parking area(s), and Lessee shall abide thereby.  Lessor shall not be liable to Lessee or Lessee’s agents, servants, employees, customers, or invitees for damage to person or property caused by any act of omission or neglect of Lessee, and Lessee agrees to hold Lessor harmless from all claims for any such damage.
		
	6.
	SUBJECT TO VACATING.  Lessor’s duty to tender possession of the Suite 1260 Expansion Space added to the Leased Premises hereunder is subject to the current tenant vacating the Suite 1260 Expansion Space.  Provided, however, that if the current tenant does not vacate the Suite 1260 Expansion Space within six (6) months from the proposed effective date hereof, Lessee shall have the right to terminate its obligation to lease the Suite 1260 Expansion Space by delivery of written notification to Lessor.

		
	7.
	RATIFICATION.  Lessor and Lessee do hereby ratify and affirm all of the terms, conditions and covenants of the Lease Agreement, as amended herein.

Witness the execution hereby this the 18th day of December, 2012, but to be effective May 1, 2013.

	
									
	 
	 
	 
	 
	 
	 
	 
	 
	 

	LESSOR
	 
	 
	 
	LESSEE

	 
	 
	 

	FASKEN MIDLAND, LLC
	 
	 
	 
	DIAMONDBACK E & P LLC

	By:
	 
	JB Fund 1, LLC, Manager
	 
	 
	 
	 
	 
	 

	By:
	 
	Its Managers
	 
	 
	 
	 
	 
	 

	 
	 
	North Waterfront Corporation
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	By:
	 
	/s/ Thomas E. Cooper
	 
	 
	 
	By:
	 
	/s/ Travis D. Stice

	 
	 
	Thomas E. Cooper
	 
	 
	 
	Name:
	 
	Travis D. Stice

	 
	 
	Vice President
	 
	 
	 
	Title:
	 
	Chief Executive Officer

	
				
	 
	 
	 
	 

	JB Financials, Inc.
	 

	 
	 
	 

	By:
	 
	/s/ Thomas E. Cooper
	 

	 
	 
	Thomas E. Cooper
	 

	 
	 
	Vice President
	 

EXHIBIT B.1

LEASE AMENDMENT #6 DIAMONDBACK E & P LLC
EXHIBIT C-5
	
													
	 
	 
	Original Leased Premises - Suite 1210 - 1,586 Sq. Ft.
	 
	Suite 1220 Expansion Space - 1,489 Sq. Ft.

	Months
	 
	Annual Rate
Per SF for
Original Leased
Premises  
	 
	Annual Rent
for Original 
Leased 
Premises 
	 
	Monthly Rent
for Original
Leased
Premises
	 
	Annual Rate
Per SF for
Suite 1220
Expansion
Space
	 
	Annual
Rent
for
Suite 1220 
Expansion
Space
	 
	Monthly
Rent for
Suite 1220
Expansion
Space

	8/1/11 until Termination of Amendment #2 for Basement Expansion Space - Terminated 9/30/12
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	08/01/11 - 10/31/11
	 
	$16.00
	 
	$25,376.00
	 
	$2,114.67
	 
	 
	 
	 
	 
	 

	11/1/11 - 11/30/11
	 
	$16.00
	 
	$25,376.00
	 
	$2,114.67
	 
	$16.00
	 
	$23,824.00
	 
	$1,985.33

	12/1/11 - 1/31/12
	 
	$16.00
	 
	$25,376.00
	 
	$2,114.67
	 
	$16.00
	 
	$23,824.00
	 
	$1,985.33

	2/1/12 - 5/31/12
	 
	$16.00
	 
	$25,376.00
	 
	$2,114.67
	 
	$16.00
	 
	$23,824.00
	 
	$1,985.33

	6/1/12 - 4/30/13
	 
	$16.75
	 
	$26,565.50
	 
	$2,213.79
	 
	$16.75
	 
	$24,940.75
	 
	$2,078.40

	5/1/13 - 5/31/13
	 
	$16.75
	 
	$26,565.50
	 
	$2,213.79
	 
	$16.75
	 
	$24,940.75
	 
	$2,078.40

	6/1/2013 - 5/31/14
	 
	$17.50
	 
	$27,755.00
	 
	$2,312.92
	 
	$17.50
	 
	$26,057.50
	 
	$2,171.46

	06/01/14 - 05/31/15
	 
	$18.25
	 
	$28,944.50
	 
	$2,412.04
	 
	$18.25
	 
	$27,174.25
	 
	$2,264.52

	06/01/15 - 05/31/16
	 
	$19.00
	 
	$30,134.00
	 
	$2,511.17
	 
	$19.00
	 
	$28,291.00
	 
	$2,357.58

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	
													
	 
	 
	Suite 1225 Expansion Space - 1,997 Sq. Ft.
	 
	12th Floor Expansion Space - 314 Sq.Ft.

	Months
	 
	Annual Rate
Per SF for
Suite 1225
Expansion
Space
	 
	Annual
Rent
for
Suite 1225 
Expansion
Space
	 
	Monthly
Rent for
Suite 1225
Expansion
Space
	 
	Annual Rate
Per SF for
12th Floor
Expansion
Space
	 
	Annual
Rent
for
12th floor 
Expansion
Space
	 
	Monthly
Rent for
12th Floor
Expansion
Space

	8/1/11 until Termination of Amendment #2 for Basement Expansion Space - Terminated 9/30/12
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	08/01/11 - 10/31/11
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	11/1/11 - 11/30/11
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	12/1/11 - 1/31/12
	 
	$18.00
	 
	$35,946.00
	 
	$2,995.50
	 
	 
	 
	 
	 
	 

	2/1/12 - 5/31/12
	 
	$18.00
	 
	$35,946.00
	 
	$2,995.50
	 
	$19.00
	 
	$5,966.00
	 
	$497.17

	6/1/12 - 4/30/13
	 
	$18.50
	 
	$36,944.50
	 
	$3,078.71
	 
	$19.50
	 
	$6,123.00
	 
	$510.25

	5/1/13 - 5/31/13
	 
	$18.50
	 
	$36,944.50
	 
	$3,078.71
	 
	$19.50
	 
	$6,123.00
	 
	$510.25

	6/1/2013 - 5/31/14
	 
	$19.00
	 
	$37,943.00
	 
	$3,161.92
	 
	$20.00
	 
	$6,280.00
	 
	$523.33

	06/01/14 - 05/31/15
	 
	$20.00
	 
	$39,940.00
	 
	$3,328.33
	 
	$21.00
	 
	$6,594.00
	 
	$549.50

	06/01/15 - 05/31/16
	 
	$21.00
	 
	$41,937.00
	 
	$3,494.75
	 
	$22.00
	 
	$6,908.00
	 
	$575.67

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	
													
	 
	 
	Suite 1280 Expansion Space - 2,042 Sq. Ft.
	 
	Suite 1260 Expansion Space - 537 Sq.Ft.

	Months
	 
	Annual Rate
Per SF for
Suite 1280
Expansion
Space
	 
	Annual
Rent
for
Suite 1280 
Expansion
Space
	 
	Monthly
Rent for
Suite 1280
Expansion
Space
	 
	Annual Rate
Per SF for
Suite 1260
Expansion 
Space
	 
	Annual
Rent
for
Suite 1260 
Expansion
Space
	 
	Monthly
Rent for
Suite 1260
Expansion
Space

	8/1/11 until Termination of Amendment #2 for Basement Expansion Space - Terminated 9/30/12
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	08/01/11 - 10/31/11
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	11/1/11 - 11/30/11
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	12/1/11 - 1/31/12
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	2/1/12 - 5/31/12
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	6/1/12 - 4/30/13
	 
	$20.00
	 
	$40,840.00
	 
	$3,403.33
	 
	 
	 
	 
	 
	 

	5/1/13 - 5/31/13
	 
	$20.00
	 
	$40,840.00
	 
	$3,403.33
	 
	$22.00
	 
	$11,814.00
	 
	$984.50

	6/1/2013 - 5/31/14
	 
	$20.50
	 
	$41,861.00
	 
	$3,488.42
	 
	$22.00
	 
	$11,814.00
	 
	$984.50

	06/01/14 - 05/31/15
	 
	$21.00
	 
	$42,882.00
	 
	$3,573.50
	 
	$22.75
	 
	$12,216.75
	 
	$1,018.06

	06/01/15 - 05/31/16
	 
	$22.00
	 
	$44,924.00
	 
	$3,743.67
	 
	$23.50
	 
	$12,619.50
	 
	$1,051.63

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	
					
	 
	 
	 
	 
	 

	Months
	 
	Total
Annual
Rent for
Stes 1210,
1220, 1225,
12th floor,
1280 & 1260
	 
	Total
Monthly
Rent for
Stes 1210,
1220, 1225,
12th floor,
1280 & 1260

	8/1/11 until Termination of Amendment #2 for Basement Expansion Space - Terminated 9/30/12
	 
	 
	 
	 

	 
	 
	 
	 
	 

	08/01/11 - 10/31/11
	 
	$25,376.00
	 
	$2,114.67

	11/1/11 - 11/30/11
	 
	$49,200.00
	 
	$4,100.00

	12/1/11 - 1/31/12
	 
	$85,146.00
	 
	$7,095.50

	2/1/12 - 5/31/12
	 
	$91,112.00
	 
	$7,592.67

	6/1/12 - 4/30/13
	 
	$135,413.75
	 
	$11,284.48

	5/1/13 - 5/31/13
	 
	$147,227.75
	 
	$12,268.98

	6/1/2013 - 5/31/14
	 
	$151,710.50
	 
	$12,642.54

	06/01/14 - 05/31/15
	 
	$157,751.50
	 
	$13,145.96

	06/01/15 - 05/31/16
	 
	$164,813.50
	 
	$13,734.46

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