Document:

Executive Change of Control Agreement with Richard A. Broughton

 Exhibit 10.2 
 EXECUTIVE CHANGE OF CONTROL AGREEMENT 
 This EXECUTIVE CHANGE OF CONTROL AGREEMENT
(“Agreement”) is made as of the 18th day of December, 2006, between CIRCOR, INC., a Massachusetts
corporation (the “Company”), and Richard A. Broughton (“Executive”). 
 WHEREAS, the Company presently employs the
Executive in which capacity the Executive serves as an officer of the Company and its Parent (as defined below); and 
 WHEREAS, the
Board of Directors of the Parent (the “Board”) recognizes the valuable services rendered to the Company, the Parent and their respective affiliates by the Executive; and 
 WHEREAS, the Board has determined that it is in the best interests of the Company, the Parent and their affiliates to encourage in advance the
continued loyalty of the Executive as well as the Executive’s continued attention to his assigned duties and objectivity in the event of a threatened or possible change in control of the Parent; 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained and other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, the parties agree as follows: 
 1. Definitions. For purposes of this
Agreement, the following terms shall have the following meanings: 
 “Cause” shall mean: (a) conduct by Executive
constituting a material act of willful misconduct in connection with the performance of his duties, including, without limitation, misappropriation of funds or property of the Company or any of its affiliates other than the occasional, customary and
de minimis use of Company property for personal purposes; (b) criminal or civil conviction of Executive, a plea of polo contendere by Executive or conduct by Executive that would reasonably be expected to result in material injury to the
reputation of the Company if he were retained in his position with the Company, including, without limitation, conviction of a felony involving moral turpitude; (c) continued, willful and deliberate non-performance by Executive of his duties
hereunder (other than by reason of Executive’s physical or mental illness, incapacity or disability) which has continued for more than thirty (30) days following written notice of such non-performance from the Chief Executive Officer; or
(d) a violation by Executive of the Company’s employment policies which has continued following written notice “of such violation from the Chief Executive Officer. 
 “Change in Control” shall mean any of the following: 
 (a) Any “person,” as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Act”) (other than the Parent, any of its subsidiaries, any member of the
Home Family Group (as defined herein) or any trustee, fiduciary or other person or entity holding securities udder any employee benefit plan or trust of the Parent 

 or any of its subsidiaries), together with all “affiliates” and “associates” (as such terms are
defined in Rule 12b-2 under the Act) of such person, shall become the “beneficial owner” (as such term is defined in Rule 13d-3 under the Act), directly or indirectly, of securities of the Parent representing twenty-five percent
(25%) or more of either (A) the combined voting power of the Parent’s then outstanding securities having the right to voice in an election of the Parent’s Board (“Voting Securities”) or (B) the then outstanding
shares of Parent’s common stock, par value $0.01 per share (“Common Stock”) (other than as a result of an acquisition of securities directly from the Parent); or 
 (b) Incumbent Directors (as defined below) cease for any reason, including, without limitation, as a result of a tender offer, proxy contest, merger or
similar transaction, to constitute at least a majority of the Board; or 
 (c) The stockholders of the Parent shall approve (A) any
consolidation or merger of the Parent where the stockholders of the Parent, immediately prior to the consolidation or merger, would not, immediately after the consolidation or merger, beneficially own (as such term is defined in Rule 13d-3 under the
Act), directly or indirectly, shares representing in the aggregate fifty percent (50%) or more of the voting shares of the Parent or other party issuing cash or securities in the consolidation or merger (or of its ultimate parent corporation,
if any), (B) any sale, lease, exchange or other transfer (in one transaction or a series of transactions contemplated or arranged by any party as a single plan) of all or substantially all of the assets of the Parent or (C) any plan or
proposal for the liquidation or dissolution of the Parent. 
 Notwithstanding the foregoing, a “Change of Control” shall not be
deemed to have occurred for purposes of the foregoing clause (a) solely as the result of an acquisition of securities by the Parent which, by reducing the number of shares of Common Stock or other Voting Securities outstanding, increases the
proportionate number of shares beneficially owned by any person to twenty-five percent (25%) or more of either (A) the combined voting power of all of the then outstanding Voting Securities or (B) Common Stock; provided, however, that
if any person referred to in this sentence shall thereafter become the beneficial owner of any additional shares of Voting Securities or Common Stock (other than pursuant to a stock split, stock dividend, or similar transaction or as a result of an
acquisition of securities directly from the Parent) and immediately thereafter beneficially owns twenty-five percent (25%) or more of either (A) the combined voting power of all of the then outstanding Voting Securities or (B) Common
Stock, then a “Change of Control” shall be deemed to have occurred for purposes of the foregoing clause (a). 
 “Good
Reason” shall mean that Executive has complied with the “Good Reason Process” (hereinafter defined) following the occurrence of any of the following events: (a) a substantial diminution or other substantive adverse change,
not consented to by Executive, in the nature or scope of Executive’s responsibilities, authorities, powers, functions or duties; (b) any removal, during the term of this Agreement from Executive of his title as an officer of the Parent;
(c) an involuntary reduction in Executive’s Base Salary except for across-the-board reductions similarly affecting all or substantially all management employees; (d) a breach by the Company of any of its other material obligations
under this Agreement and the failure of the Company to cure such breach within thirty (30) days after written notice thereof by Executive; (e) the involuntary relocation of the Company’s offices at which Executive is principally
employed or 
  

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 the involuntary relocation of the offices of Executive’s primary workgroup to a location more than thirty
(30) miles from such offices, or the requirement by the Company that Executive be based anywhere other than the Company’s offices at such location on an extended basis, except for required travel on the Company’s business to an extent
substantially consistent with Executive’s business travel obligations; or (f) a reduction in Executive’s opportunity for annual incentive compensation below the annual incentive opportunity most recently in effect under the
Company’s Executive Bonus Incentive Plan prior to the Change in Control. “Good Reason Process” shall mean that (i) Executive reasonably determines in good faith that a “Good Reason” event has occurred;
(ii) Executive notifies the Company in writing of the occurrence of the Good Reason event; (iii) Executive cooperates in good faith with the Company’s efforts, for a period not less than ninety (90) days following such notice, to
modify Executive’s employment situation in a manner acceptable to Executive and Company; and (iv) notwithstanding such efforts, one or more of the Good Reason events continues to exist and has not been modified in a manner acceptable to
Executive. If the Company cures the Good Reason event in a manner acceptable to Executive during the ninety (90) day period, Good Reason shall be deemed not to have occurred. 
 “Incumbent Directors” shall mean persons who, as of the Commencement Date, constitute the Board; provided that any person becoming a
director of the Parent subsequent to the Commencement Date shall be considered an Incumbent Director if such person’s election was approved by or such person was nominated for election by a vote of at least a majority of the Incumbent
Directors; but provided further, that any such person whose initial assumption of office is in connection with an actual or threatened election contest relating to the election of members of the Board or other actual or threatened solicitation of
proxies or consents by or on behalf of a person other than the Board, including by reason of agreement intended to avoid or settle any such actual or threatened contest or solicitation, shall not be considered an Incumbent Director. 
 “Parent” shall mean CIRCOR International, Inc., a Delaware corporation as well as its successors by merger or otherwise. 
 “Horne Family Group” shall mean Timothy P. Home and the George B. Home Voting Trust. 
 2. Term. The term of this Agreement shall extend from the date hereof (the “Commencement Date”) until the first anniversary of
the Commencement Date; provided, however, that the term of this Agreement shall automatically be extended for one additional year on the first anniversary of the Commencement Date and each anniversary thereafter unless, not less than 90 days prior
to each such date, either party shall have given notice to the other that it does not wish to extend this Agreement; provided, further, that if a Change in Control occurs during the original or extended term of this Agreement, the term of this
Agreement shall continue in effect for a period of not less than twelve (12) months beyond the month in which the Change in Control occurred. 
 3. Change in Control Payment. The provisions of this Paragraph 3 set forth certain terms of an agreement reached between Executive and the Company regarding Executive’s rights 
  

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 and obligations upon the occurrence of a Change in Control of the Parent. These provisions are intended to assure and
encourage in advance Executive’s continued attention and dedication to his assigned duties and his objectivity during the pendency and after the occurrence of any such event. These provisions shall terminate and be of no further force or effect
beginning twelve (12) months after the occurrence of a Change of Control. 
 (a) Change in Control. 
 (i) If within twelve (12) months after the occurrence of the first event constituting a Change in Control, Executive’s
employment is terminated by the Company without Cause as defined in Section 1 or Executive terminates his employment for Good Reason as provided in Section 1, then the Company shall pay Executive a lump sum in cash in an amount equal to
one (1) times the sum of (A) Executive’s current Base Salary plus (B) Executive’s highest annual incentive compensation under the Company’s Executive Bonus Incentive Plan in the three (3) immediately preceding
fiscal years, excluding any sign-on bonus, retention bonus or any other special bonus. Such lump sum cash payment shall be paid to Executive within thirty (30) days following the Date of Termination; and 
 (ii) Notwithstanding anything to the contrary in any applicable option agreement or stock-based award agreement, upon a Change in Control,
all stock options and other stock-based awards granted to Executive by the Parent shall immediately accelerate and become exercisable or non-forfeitable as of the effective date of such Change in Control. In addition, all restricted stock units held
by the Executive pursuant to the Management Stock Purchase Plan shall become fully vested upon a Change of Control and the Executive shall be entitled to receive the shares of stock represented by such restricted stock units. Executive shall also be
entitled to any other rights and benefits with respect to stock-related awards, to the extent and upon the terms, provided in the employee stock option or incentive plan or any agreement or other instrument attendant thereto pursuant to which such
options or awards were granted; and 
 (iii) If the Executive is otherwise eligible for participation in the Company’s
Supplemental Executive Retirement Plan (“SERP”), the Executive shall be fully vested in his accrued benefit under the SERP as of the Date of Termination; and 
 (iv) The Company shall, for a period of one (1) year commencing on the Date of Termination, pay such health insurance premiums as may
be necessary to allow Executive, Executive’s spouse and dependents to continue to receive health insurance coverage substantially similar to the coverage they received prior to the Date of Termination. 
 (b) Additional Limitation. 
 (i) Anything in this Agreement to the contrary notwithstanding, in the event that any compensation, payment or distribution by the Company to or for the benefit of Executive, whether paid or payable or distributed or distributable pursuant
to the terms of this Agreement or otherwise (the “Severance Payments”), would be subject to the excise tax imposed by Section 4999 of the Internal Revenue Code of 1986, as amended (the “Code”), the following provisions shall
apply: 
  

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 (A) If the Severance Payments, reduced by the sum of (1) the Excise Tax and
(2) the total of the Federal, state and local income and employment taxes payable by Executive on the amount of the Severance Payments which are in excess of the Threshold Amount, are greater than or equal to the Threshold Amount, Executive
shall be entitled to the full benefits payable under this Agreement. 
 (B) If the Threshold Amount is less than (x) the
Severance Payments, but greater than (y) the Severance Payments reduced by the sum of (1) the Excise Tax and (2) the total of the Federal, state, and local income and employment taxes on the amount of the Severance Payments which are
in excess of the Threshold Amount, then the benefits payable under this Agreement shall be reduced (but not below zero) to the extent necessary so that the maximum Severance Payments shall not exceed the Threshold Amount. To the extent that there is
more than one method of reducing the payments to bring them within the Threshold Amount, Executive shall determine which method shall be followed; provided that if Executive fails to make such determination within 45 days after the Company has sent
Executive written notice of the need for such reduction, the Company may determine the amount of such reduction in its sole discretion. 
 For the purposes of this Paragraph 3, “Threshold Amount” shall mean three times Executive’s “base amount” within the meaning of Section 280G(b)(3) of the Code and the regulations
promulgated thereunder less one dollar ($1.00); and “Excise Tax” shall mean the excise tax imposed by Section 4999 of the Code, and any interest or penalties incurred by Executive with respect to such excise tax. 
 (ii) The determination as to which of the alternative provisions of Paragraph 3(b)(i) shall apply to Executive shall be made by KPMG LLP or any other
nationally recognized accounting firm selected by the Company (the “Accounting Firm”), which shall provide detailed supporting calculations both to the Company and Executive within 15 business days of the Date of Termination, if
applicable, or at such earlier time as is reasonably requested by the Company or Executive. For purposes of determining which of the alternative provisions of Paragraph 3(b)(i) shall apply, Executive shall be deemed to pay federal income taxes at
the highest marginal rate of federal income taxation applicable to individuals for the calendar year in which the determination is to be made, and state and local income taxes at the highest marginal rates of individual taxation in the state and
locality of Executive’s residence on the Date of Termination, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes. Any determination by the Accounting Firm shall be binding
upon the Company and Executive. 
  

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 4. Unauthorized Disclosures. Executive acknowledges that in the course of his employment
with the Company (and, if applicable, its predecessors), he has been allowed to become, and will continue to be allowed to become, acquainted with the Company’s and the Parent’s business affairs, information, trade secrets, and other
matters which are of a proprietary or confidential nature, including but not limited to the Company’s, the Parent’s and their affiliates’ and predecessors’ operations, business opportunities, price and cost information, finance,
customer information, business plans, various sales techniques, manuals, letters, notebooks, procedures, reports, products, processes, services, and other confidential information and knowledge (collectively the “Confidential Information”)
concerning the Company’s, the Parent’s and their affiliates’ and predecessors’ business. The Company agrees to provide on an ongoing basis such Confidential Information as the Company deems necessary or desirable to aid Executive
in the performance of his duties. Executive understands and acknowledges that such Confidential Information is confidential, and he agrees not to disclose such Confidential Information to anyone outside the Company or the Parent except to the extent
that (i) Executive deems such disclosure or use reasonably necessary or appropriate in connection with performing his duties on behalf of the Company and the Parent, (ii) Executive is i required by order of a court of competent
jurisdiction (by subpoena or similar process) to disclose or discuss any Confidential Information, provided that in such case, Executive shall promptly inform the Company or the Parent, as appropriate, of such event, shall cooperate with the Company
or the Parent, as appropriate, in attempting to obtain a protective order or to otherwise restrict such disclosure, and shall only disclose Confidential Information to the minimum extent necessary to comply with any such court order; (iii) such
Confidential Information becomes generally known to and available for use in the Company’s industry (the “Fluid-Control Industry”), other than as a result of any action or inaction by Executive; or (iv) such information has been
rightfully received by a member of the Fluid-Control Industry or has been published in a form generally available to the Fluid-Control Industry prior to the date Executive proposes to disclose or use such information. Executive further agrees that
he will not during employment and/or at any time thereafter use such Confidential Information in competing, directly or indirectly, with the Company or the Parent. At such time as Executive shall cease to be employed by the Company, he will
immediately turn over to the Company or the Parent, as appropriate, all Confidential Information, including papers, documents, writings, electronically stored information, other property, and all copies of them provided to or created by him during
the course of his employment with the Company. The provisions of this Paragraph 4 shall survive termination of this Agreement for any reason. 
 5. Covenant Not to Compete. In consideration of the benefits afforded the Executive under the terms provided in this Agreement and as a means to aid in the performance and enforcement of the terms of the provisions of
Paragraph 4, Executive agrees that 
 (a) during the term of Executive’s employment with the Company and for a period of twelve
(12) months thereafter, regardless of the reason for termination of employment, Executive will not, directly or indirectly, as an owner, director, principal, agent, officer, employee, partner, consultant, servant, or otherwise, carry on,
operate, manage, control, or become involved in any manner with any business, operation, corporation, partnership, association, agency, or other person or entity which is engaged in a business that is competitive with any of the Company’s or
the Parent’s products which are produced by the Company or the Parent or any affiliate of either entity as of the date of Executive’s termination of employment 
  

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 with the Company, in any area or territory in which the Company or the Parent or any affiliate of either entity conducts
operations; provided, however, that the foregoing shall not prohibit Executive from owning up to one percent (1%) of the outstanding stock of a publicly held company engaged in the Fluid-Control Industry; and 
 (b) during the term of Executive’s employment with the Company and for a period of twelve (12) months thereafter, regardless of the reason for
termination of employment, Executive will not directly or indirectly solicit or induce any present or future employee of the Company or the Parent or any affiliate of either entity to accept employment with Executive or with any business, operation,
corporation, partnership, association; agency, or other person or entity with which Executive may be associated, and Executive will not employ or cause any business, operation, corporation, partnership, association, agency, or other person or entity
with which Executive maybe associated to employ any present or future employee of the Company or the Parent without providing the Company or the Parent, as appropriate, with ten (10) days’ prior written notice of such proposed employment.

 Should Executive violate any of the provisions of this Paragraph, then in addition to all other rights and remedies available to the Company at law or in
equity, the duration of this covenant shall automatically be extended for the period of time from which Executive began such violation until he permanently ceases such violation. 
 6. Notice. For purposes of this Agreement, notices and all other communications provided for in the Agreement shall be in writing and shall
be deemed to have been duly given when delivered or mailed by United States certified mail, return receipt requested, postage prepaid, addressed as follows: 
 If to the Executive: 
 At his home address as shown 
 in the Company’s personnel records; 
 If to the Company: 
 Circor, Inc. 
 c/o CIRCOR International, Inc. 
 25 Corporate Drive, Suite 130 
 Burlington, MA 01803 
 Attention: Board of Directors of CIRCOR International, Inc.

 or to such other address as either party may have furnished to the other in writing in accordance herewith, except that notices of change of address shall
be effective only upon receipt. 
 7. Not an Employment Contract. This Agreement is intended only to provide those benefits for
the Executive as set forth in Paragraph 3 in connection with a Change of Control. As such, this Agreement is not intended to and does not in anyway constitute an employment agreement or other contract which would cause the employee to be
considered anything other than an employee at will or to in any way be entitled to any specific payments or benefits from the Company in the event of a termination of employment not subject to Paragraph 3 of this Agreement. 
  

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 8. Miscellaneous. No provisions of this Agreement may be modified, waived, or discharged
unless such waiver, modification, or discharge is agreed to in writing and signed by Executive and such officer of the Company as may be specifically designated by the Board. No waiver by either party hereto of or compliance with, any condition or
provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. No agreements or representations, oral or otherwise, express
or implied, unless specifically referred to herein, with respect to the subject matter hereof have been made by either party which are not set forth expressly in this Agreement. The validity, interpretation, construction, and performance of this
Agreement shall be governed by the laws of the Commonwealth of Massachusetts (without regard to principles of conflicts of laws). 
 9.
Validity. The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect. The
invalid portion of this Agreement, if any, shall be modified by any court having jurisdiction to the extent necessary to render such portion enforceable. 
 10. Counterparts. This Agreement may be executed in several counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.

 11. Arbitration; Other Disputes. In the event of any dispute or controversy arising under or in connection with this
Agreement, the parties shall first promptly try in good faith to settle such dispute or controversy by mediation under the applicable rules of the American Arbitration Association before resorting to arbitration. In the event such dispute or
controversy remains unresolved in whole or in part for a period of thirty (30) days after it arises, the parties will settle any remaining dispute or controversy exclusively by arbitration in Boston, Massachusetts, in accordance with the rules
of the American Arbitration Association then in effect. Judgment may be entered on the arbitrator’s award in any court having jurisdiction. Notwithstanding the above, the Company shall be entitled to seek a restraining order or injunction in
any court of competent jurisdiction to prevent any continuation of any violation of Paragraph 4 or 5 hereof. 
 12. Litigation and
Regulatory Cooperation. During and after Executive’s employment, Executive shall reasonably cooperate with the Company and the Parent in the defense or prosecution of any claims or actions now in existence or which may be brought in the
future against or on behalf of the Company and/or the Parent which relate to events or occurrences that transpired while Executive was employed by the Company; provided, however, that such cooperation shall not materially and adversely affect
Executive or expose Executive to an increased probability of civil or criminal litigation. Executive’s cooperation in connection with such claims or actions shall include, but not be limited to, being available to meet with counsel to prepare
for discovery or trial and to act as a witness on behalf of the Company and/or the Parent at mutually convenient times. During and after Executive’s employment, Executive 
  

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 also shall cooperate fully with the Company and the Parent in connection with any investigation or review of any federal,
state or local regulatory authority as any such investigation or review relates to events or occurrences that transpired while Executive was employed by the Company. The Company shall also provide Executive with compensation on an hourly basis (to
be derived from the sum of his Base Compensation and Average Incentive Compensation) for requested litigation and regulatory cooperation that occurs after his termination of employment, and reimburse Executive for all costs and expenses incurred in
connection with her performance under this Paragraph 12, including, but not limited to, reasonable attorneys’ fees and costs. 
 13. Gender Neutral. Wherever used herein, a pronoun in the masculine gender shall be considered as including the feminine gender unless the context clearly indicates otherwise. 
 IN WITNESS WHEREOF, the parties have executed this Agreement effective on the date and year first above written. 
  

			
	CIRCOR, INC.
		
	By:	 	 /S/ David A. Bloss, Sr.

		 	 David A. Bloss, Sr.
 Chairman

	
	EXECUTIVE
		
	By:	 	 /S/ Richard A. Broughton

		 	Richard A. Broughton

  

 9Form of Indemnity Agreement

 Exhibit 10.1 
 FORM OF INDEMNITY AGREEMENT 
 DATED as of the      day of
            , 2006 
 BETWEEN: 
 GASTAR EXPLORATION LTD., a corporation subsisting under the laws of Alberta (the “Corporation”) 
 AND 
                                       
   (the “Indemnified Party”) 
 WHEREAS Section 124(1) of the Business Corporations Act (Alberta) (the
“Act”), under which the Corporation is subsisting, provides that a corporation may indemnify a director or officer of the Corporation, a former director or officer of the Corporation or a person who acts or acted at the Corporation’s
request as a director or officer of a body corporate of which the Corporation is or was a shareholder or creditor, against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment, reasonably incurred by
the director or officer in respect of any civil, criminal or administrative action or proceeding to which the director or officer is made a party by reason of being or having been a director or officer of that corporation or body corporate, if
(a) the director or officer acted honestly and in good faith with a view to the best interests of the Corporation and (b) in the case of a criminal or administrative action or proceeding that is enforced by a monetary penalty, the director
or officer had reasonable grounds for believing that the director’s or officer’s conduct was lawful; 
 AND WHEREAS the by-laws
(the “By-Laws”) of the Corporation permit indemnification in accordance with the foregoing and in such other circumstances as the Act permits or requires; 
 AND WHEREAS, Section 124(2) of the Act provides that a corporation may with the approval of a court indemnify a person referred to in subsection 124(1) in respect of any civil, criminal or administrative action
by or on behalf of the corporation or body corporate to procure a judgement in its favour, to which the person is made a party by reason of being or having been a director or officer of the Corporation or body corporate against all costs, charges
and expenses reasonably incurred by the director or officer in connection with the action, if (a) the director or officer acted honestly and in good faith with a view to the best interests of the Corporation, or, as the case may be, to the best
interests of another corporate entity for which the individual acted as a director or officer at the Corporation’s request and (b) in the case of a criminal or administrative action or proceeding that is enforced by monetary penalty, the
director or officer had reasonable grounds for believing that the director’s or officer’s conduct was lawful; 
 AND WHEREAS in
addition, Section 124(3) of the Act provides that notwithstanding anything in Section 124, a person referred to in subsection 124(1) of the Act is entitled to indemnity from the corporation in respect of all costs, charges and expenses
reasonably incurred by the person in connection with the defense of any civil, criminal or administrative action or proceeding to which the person is made a party by reason of being or having been a director or officer of the Corporation or body
corporate, if the person seeking indemnity (a) was substantially successful on the merits in the person’s defence of the action or proceeding, (b) fulfills the conditions set out in subsection 124(1) of the Act and (c) is
fairly and reasonably entitled to indemnity; 
 AND WHEREAS in addition, Section 124(4) of the Act empowers a corporation to purchase
and maintain insurance for the benefit of an individual referred to in subsection 124(1) against any liability incurred by the person: (a) in the person’s capacity as a director or officer of the Corporation, except when the liability
relates to the person’s failure to act honestly and in good faith with a view to the best interests of the Corporation; or (b) in the person’s capacity as a director or officer of another body corporate if the person acts or acted in
that capacity at the Corporation’s request, except when the liability relates to the person’s failure to act honestly and in good faith with a view to the best interests of the body corporate; 

 AND WHEREAS the Corporation desires to have the Indemnified Party serve or continue to serve as a
director or officer of the Corporation, or as a director and/or officer, or similar capacity (collectively referred to herein as “director or officer”), of another entity if the individual acts or acted in that capacity at the
Corporation’s request (each other entity is referred to herein as an “Affiliate”) of which he has been or is serving, or will serve at the request of the Corporation, free from undue concern for unpredictable, inappropriate or
unreasonable claims for damages by reason of the Indemnified Party being, or having been, a director or officer of the Corporation or an Affiliate or by reason of the Indemnified Party’s decisions or actions on their behalf; 
 AND WHEREAS the Indemnified Party is willing to serve, or to continue to serve, or to take on additional service for, the Corporation or the Affiliates
in such aforesaid capacities on the condition that he be indemnified as provided for herein; 
 NOW THEREFORE, IN CONSIDERATION OF the
premises and mutual covenants herein contained, and in consideration of the sum of One ($1.00) Dollar paid by the Indemnified Party to the Corporation (the receipt of which is hereby acknowledged) and the Indemnified Party acting and/or agreeing to
act or to continue to act as a director or officer of the Corporation or of an Affiliate, the Corporation and the Indemnified Party do hereby covenant and agree as follows: 
 1. Agreement to Serve 
 The Indemnified Party agrees to serve or continue to serve as a director or
officer (in the case of an officer of the Corporation, at the will of the Corporation or Affiliate or under a separate contract, if any such contract exists or shall hereafter exist) of the Corporation or of an Affiliate honestly and in good faith
with a view to the best interests of the Corporation or Affiliate so long as he is duly elected and qualified in accordance with the provisions of the Act and the By-Laws; provided, however, that (a) the Indemnified Party may at any time and
for any reason resign from such position (subject to any contractual obligations which the Indemnified Party shall have assumed apart from this Agreement) and (b) neither the Corporation nor any Affiliate shall have any obligation under this
Agreement to continue the Indemnified Party in any such position. 
 2. Indemnification 
  

	(a)	To the full extent allowed by law, the Corporation and its Affiliate, as the case may be, jointly and severally agree to indemnify and save harmless the Indemnified Party, his
heirs, successors and legal representatives from and against any and all damages, liabilities, costs, charges or expenses suffered or incurred by the Indemnified Party, his heirs, successors or legal representatives, directly or indirectly, as a
result or by reason of the Indemnified Party being or having been or having agreed to serve as a director or officer of the Corporation or an Affiliate or by reason of any action taken by the Indemnified Party in his capacity as a director or
officer of the Corporation or an Affiliate, including without limitation, any liability for unpaid employee wages, provided that such damages, liabilities, costs, charges or expenses were not suffered or incurred as a direct result of the
Indemnified Party’s own fraud. 

  

	(b)	In addition and without limitation of Section 2(a), above, the Corporation agrees: 

  

	 	(i)	to indemnify the Indemnified Party and the Indemnified Party’s heirs, successors and legal representatives against all costs, charges and expenses, including, without
limitation, an amount paid to settle an action or to satisfy a judgment, reasonably incurred by the Indemnified Party in respect of any civil, criminal or administrative action or proceeding to which the Indemnified Party is made a party by reason
of being or having been or having agreed to serve as a director or officer of the Corporation or an Affiliate, if the Indemnified Party met the following standard of conduct (the “Standard of Conduct”): 

  

	 	(1)	the Indemnified Party acted honestly and in good faith with a view to the best interests of the Corporation, or, as the case may be, to the best interests of an Affiliate; and

  

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	 	(2)	in the case of a criminal or administrative action or proceeding that is enforced by monetary penalty, the Indemnified Party had reasonable grounds for believing that the
Indemnified Party’s conduct was lawful; 

  

	 	(ii)	to indemnify the Indemnified Party and the Indemnified Party’s heirs, successors and legal representatives in respect of an action by or on behalf of the Corporation or an
Affiliate to procure a judgment in its favour, to which the Indemnified Party is made a party because of the Indemnified Party’s association with the Corporation or an Affiliate, against all costs, charges and expenses reasonably incurred by
the Indemnified Party in connection with such action if the Indemnified Party has met the Standard of Conduct set forth in subsections 2(b)(i)(1) and (2) set out above and if the Corporation obtains the approval of a Court (pursuant to the Act)
to grant such indemnity; 

  

	 	(iii)	to indemnify the Indemnified Party and the Indemnified Party’s heirs and legal representatives against all costs, charges and expenses, including an amount paid to settle an
action or to satisfy a judgment, incurred by the Indemnified Party in respect of any civil, criminal or administrative action or proceeding to which the Indemnified Party is made a party and which action or proceeding relates to the duties or
responsibilities of the directors and/or officers of the Company during a time which predates the appointment of the Indemnified Party as a director and/or officer of the Company. 

  

	 	(iv)	in the event that the approval of the Court is required to effect any indemnification granted hereunder, the Corporation agrees to make application for and use its best efforts to
obtain the Court’s approval to such indemnification provided that the Indemnified Party has met the Standard of Conduct set forth in subsection 2(b)(i)(1) and (2) herein; 

  

	 	(v)	notwithstanding subsections 2(b)(i) and (ii) above, to indemnify the Indemnified Party and the Indemnified Party’s heirs, successors and legal representatives in respect
of all costs, charges and expenses reasonably incurred by the Indemnified Party in connection with the defence of any civil, criminal or administrative action or proceeding to which the Indemnified Party is subject because of the Indemnified
Party’s association with the Corporation or an Affiliate if the Indemnified Party: 

  

	 	(1)	was not judged by the Court or other competent authority to have committed fraud; and 

  

	 	(2)	has met the Standard of Conduct set out in subsections 2(b)(i)(1) and (2) set out above; 

  

	 	(vi)	to indemnify the Indemnified Party and the Indemnified Party’s heirs, successors and legal representatives in respect of all costs, charges and expenses reasonably incurred by
the Indemnified Party in connection with the defence of any threatened civil, criminal or administrative action or proceeding or alleged wrongdoing (or settlement thereof with the consent of the Corporation) brought against the Indemnified Party
because of the Indemnified Party’s association with the Corporation or an Affiliate; and 

  

	 	(vii)	for the purposes of this Agreement including, without limitation, Section 2 hereof, the termination of any civil, criminal or administrative action or proceeding by judgement,
order, settlement, conviction or similar or other result shall not, of itself, create a presumption either that the Indemnified Party did not act honestly or in good faith with a view to the best interests of the Corporation or the Affiliate or
that, in the case of a criminal or administrative action or proceeding that is enforced by a monetary penalty, the Indemnified Party did not have reasonable grounds for believing that the Indemnified Party’s conduct was lawful.

  

	(c)	The intention of this Agreement is to provide the Indemnified Party indemnification to the fullest extent permitted by law and without limiting the generality of the foregoing and
notwithstanding anything contained herein: 

  

	 	(i)	nothing in this Agreement shall be interpreted, by implication or otherwise, in limitation of the scope of the indemnification provided in Section 2(a) and (b) hereof; and

  

 3 

	 	(ii)	Section 2(b) is intended to provide indemnification to the Indemnified Party to the fullest extent permitted by the Act and, in the event that such statute is amended to permit
a broader scope of indemnification (including, without limitation, the deletion or limiting of one or more of the provisos to the applicability of indemnification), Section 2(b) shall be deemed to be amended concurrently with the amendment to
the statute so as to provide such broader indemnification. 

 3. Advance of Costs; Litigation Expenses 
 All costs, charges and expenses reasonably incurred by the Indemnified Party in investigating, defending or appealing any civil, criminal or
administrative action or proceeding, actual or threatened, covered hereunder shall, at the request of the Indemnified Party, be paid by the Corporation in advance as may be appropriate to enable the Indemnified Party to properly investigate, defend
or appeal such action or proceeding, with the understanding and agreement being herein made that, in the event it is ultimately determined by a final, non-appealable judgment of a court of competent jurisdiction that the Indemnified Party was not
entitled to be so indemnified, or was not entitled to be fully so indemnified, by reason of subsection 2(b)(i)(1) and (2) or otherwise, that Indemnified Party shall indemnify and hold harmless the Corporation, and repay to the Corporation
forthwith after such ultimate determination such amount or the appropriate portion thereof, so paid in advance. 
 If a claim for:

  

	(a)	indemnification pursuant to this Agreement is not paid in full by the Corporation within 60 days after written demand has been received by the Corporation; or

  

	(b)	advancement or reimbursement of expenses pursuant to this Agreement is not paid in full by the Corporation within 20 days after written demand has been received by the Corporation

 the Indemnified Party may at any time thereafter bring suit against the Corporation to recover the unpaid amount of the claim. If successful
in whole or in part in any such suit, or in a suit brought by the Corporation to recover an advancement of expenses pursuant to the terms of an undertaking, the Indemnified Party shall be entitled to be paid also the expenses of prosecuting and
defending such suit. 
 In: 
  

	(i)	any suit brought by the Indemnified Party to enforce the right to indemnification hereunder (other than a suit brought by the Indemnified Party to enforce a right to an advancement
or reimbursement of expenses where the required undertaking, if any, has been received by the Corporation) it shall be a defense that, and 

  

	(ii)	any suit by the Corporation to recover an advancement of expenses pursuant to the terms of an undertaking, the Corporation shall be entitled to recover such expenses upon a final
adjudication by a final, non-appealable judgment of a court of competent jurisdiction that, 

 the Indemnified Party has not met the relevant
Standard of Conduct. 
 Neither the failure of the Corporation (including its board of directors or independent legal counsel) to have made determination
prior to the commencement of such suit that indemnification of the Indemnified Party is proper in the circumstances because the Indemnified Party has met the relevant Standard of Conduct set forth herein, nor an actual determination by the
Corporation (including its board of directors or independent legal counsel) that the Indemnified Party has not met such Standard of Conduct, shall create a presumption that the Indemnified Party has not met the relevant Standard of Conduct or, in
case of a suit brought by the Indemnified Party, be a defense to such suit. In any suit brought by the Indemnified Party to enforce a right to indemnification or to an advancement or reimbursement of expenses hereunder, or by the Corporation to
recover an advancement of expenses pursuant to the terms of an undertaking, the burden of proving that the Indemnified Party is not entitled to be indemnified, or to such advancement or reimbursement of expenses, under this Agreement or otherwise by
clear and convincing evidence shall be on the Corporation. 
  

 4 

 4. Other Rights and Remedies 
 Indemnification and advance payment of costs, charges and expenses as provided by this Agreement shall not be deemed to derogate from or exclude any other rights to which the Indemnified Party may be entitled under
any provision of the Act or otherwise at law, the articles of the Corporation or Affiliate, the By-Laws or the by-laws of such Affiliate, this Agreement, any vote of shareholders of the Corporation or Affiliate, or otherwise, both as to matters
arising out of the Indemnified Party’s capacity as a director or officer of the Corporation or an Affiliate, or as to matters arising out of another capacity with the Corporation or an Affiliate while being a director or officer of the
Corporation or an Affiliate, and shall continue after the Indemnified Party has ceased to be a director or officer of the Corporation or an Affiliate. 
 5. Limitation of Actions and Release of Claims 
 No legal action shall be brought and no cause of action shall be asserted by
or on behalf of the Corporation or any Affiliate against the Indemnified Party, his estate, executors, administrators, legal representatives, successors or lawful heirs after the expiration of two years from the date the Indemnified Party ceased
(for any or no reason) to be a director or officer of the Corporation or an Affiliate and the Corporation agrees that any claim or cause of action of the Corporation or of any Affiliate shall be extinguished and the Indemnified Party, his estate,
executors, administrators, legal representatives, successors and lawful heirs deemed released therefrom absolutely unless asserted by the commencement of legal action in a court of competent jurisdiction within such two-year period. 
 6. Notice of Proceedings 
 The Indemnified Party
agrees to give notice to the Corporation as soon as is reasonably practical after being served with any statement of claim, writ, notice of motion, indictment or other document commencing or continuing any civil, criminal or administrative action or
proceeding against the Indemnified Party as a party by reason of being or having been or having agreed to serve as a director or officer of the Corporation or an Affiliate, and in respect of any threatened civil, criminal, or administrative action
or proceeding or alleged wrongdoing against the Indemnified Party by reason of being or having been a director or officer of the Corporation or an Affiliate and the Corporation agrees to give notice to the Indemnified Party in writing as soon as is
reasonably practical after: 
  

	(a)	being served with any such statement of claim, writ, notice of motion, indictment or other document commencing or continuing any civil, criminal or administrative action or
proceeding naming the Indemnified Party as a party; or 

  

	(b)	receiving notice of any such threatened civil, criminal or administrative action or proceeding or alleged wrongdoing against the Indemnified Party; 

 provided, however, that the failure of the Indemnified Party to give such notice to the Corporation shall not adversely affect the Indemnified Party’s rights under
this Agreement except to the extent that the Corporation shall have been materially prejudiced as a direct result of such failure. 
 The Corporation further
agrees to promptly retain counsel who shall be reasonably satisfactory to the Indemnified Party to represent the Indemnified Party in any such matter. 
 The
Indemnified Party shall be presumed to be entitled to indemnification under this Agreement upon submission of a request for indemnification pursuant to this Section 6, and the Corporation shall have the burden of proof and overcoming that
presumption in reaching a determination contrary to that presumption. Such presumption shall be used as a basis for determination of entitlement to indemnification unless the Corporation overcomes such presumption by clear and convincing evidence.

  

 5 

 7. Right to Retain Other Counsel 
 In any matter described in Section 6 above the Indemnified Party shall have the right to retain other counsel to act on the Indemnified Party’s behalf provided that the fees and disbursements of such other
counsel shall be paid by the Indemnified Party unless: 
  

	(a)	the Indemnified Party and the Corporation or an Affiliate shall have mutually agreed to the retention of such other counsel; 

  

	(b)	the named parties to any such action, claim, demand or proceeding (including any added third, or interpleaded parties) include the Corporation or an Affiliate and the Indemnified
Party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them (including the availability of different defences) in which event the Corporation and Affiliate, jointly
and severally agree to pay the fees and disbursements of such counsel; or 

  

	(c)	the Corporation shall not have employed promptly counsel to assume the defense of such action, claim, demand or proceeding or after having retained counsel, the Corporation and
counsel retained by the Corporation thereafter fail to diligently and in good faith defend such action, claim, demand or proceeding. 

 8.
Indemnified Party to Cooperate 
 The Indemnified Party agrees to give the Corporation such information and cooperation as the Corporation
may reasonably require from time to time in respect of all matters hereunder, subject to any attorney client privilege in favour of the Indemnified Party. 
 9. Insurance 
 The Corporation agrees to use its reasonable best efforts to maintain or cause to be maintained an adequate
policy of insurance with respect to liability relating to its directors or officers which policy may pursuant to its terms extend to the Indemnified Party in the Indemnified Party’s capacity as a director or officer of the Corporation or an
Affiliate and agrees to use its best efforts to include or cause to be included the Indemnified Party as an insured under such policy to the maximum extent reasonably possible. If the Corporation has such insurance in effect at the time that the
Corporation receives from the Indemnified party notice of the commencement of a proceeding covered by such insurance, the Corporation shall give prompt notice of the commencement of such proceeding to the insurers in accordance with the procedures
set forth in the policy. The Corporation shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnified Party, all amounts payable as a result of such proceeding in accordance with the terms of
such policy. 
 In the event of any payment by the Corporation under this Agreement, the Corporation shall be subrogated to the extent of
such payment to all of the rights of recovery of the Indemnified Party with respect to any insurance policy, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are
necessary to enable the Corporation to bring suit to enforce such rights in accordance with the terms of such insurance policy. The Corporation shall pay or reimburse all expenses (including attorneys’ fees) actually and reasonably incurred by
the Indemnified Party in connection with such subrogation. 
 10. Effective Time 
 This Agreement shall be effective as and from the first day that the Indemnified Party became or becomes a director or officer of the Corporation or an
Affiliate. 
 11. Notices 
 Unless
otherwise permitted by this Agreement, all notices, requests, demands or other communications hereunder shall be in writing and shall be deemed to have been fully given when (a) personally delivered to the party to whom the notice or other
communication is directed, (b) sent by telecopier (with written 

  

 6 

 
confirmation of receipt), provided that a copy is sent by a nationally recognized overnight delivery service (receipt requested), or (c) when received
by the addressee, if sent by a nationally recognized overnight delivery service (receipt requested) in each case to the appropriate addresses and telecopier numbers set forth below (or to such other addresses and telecopier numbers as a party may
designate by notice to the other parties): 
 if to the Indemnified Party, at: 
  
  

			
	(a)    if to the Corporation, at:	 	Gastar Exploration Ltd.
		 	1331 Lamar, Suite 1080
		 	Houston, Texas 77010
		 	Attention: President
		 	Telecopier Number: (713) 739-1800

 If the Corporation receives notice from any other source of any matter which the Indemnified Party
would otherwise be obligated hereunder to give notice of to the Corporation, then the Indemnified Party shall be relieved of the Indemnified Party’s obligation hereunder to give notice to the Corporation, provided the Corporation has not
suffered any material damage from the failure of the Indemnified Party to give notice as herein required. 
 12. Severability 
 If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever: 
  

	(a)	the validity, legality and enforceability of the remaining provisions of this Agreement (including, without limitation, all portions of any paragraph of this Agreement containing
such provisions held to be invalid, illegal or unenforceable, that are not of themselves in whole invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby; and 

  

	(b)	to the fullest possible extent, the provisions of this Agreement (including, without limitations, all portions of any paragraphs of this Agreement containing any such provisions
held to be invalid, illegal or unenforceable, that are not of themselves in whole invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested by the provision which is held to be invalid, illegal or
unenforceable. 

 13. Governing Law 
 The parties hereto agree that this agreement shall be construed and enforced in accordance with the laws of the Province of Alberta and the federal laws of Canada enforceable therein. 
 14. Modification and Waiver 
 No supplement,
modification or amendment of this Agreement shall be binding unless executed in writing by both parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision hereof (whether
or not similar) nor shall such waiver constitute a continuing waiver. 
 15. Entire Agreement 
 This Agreement shall supersede and replace any and all prior agreements (except any written agreement of employment between the Corporation and the
Indemnified Party, which shall remain in full force and effect, except to the extent augmented or amended hereby), between the parties hereto respecting the matters set forth herein, and shall constitute the entire agreement between the parties
hereto in respect of the matters set forth herein. 
  

 7 

 16. Successors and Assigns 
 This Agreement shall be binding upon and enure to the benefit of the Corporation and its successors and assigns and to the Indemnified Party and the Indemnified Party’s estate, executors, administrators, legal
representatives, lawful heirs, successors and assigns. 
 17. Successor Legislation 
 Any references herein to any enactment shall be deemed to be references to such enactment as the same may be amended or replaced from time to time and, in
the event that the Corporation is continued, incorporated, amalgamated, arranged under or otherwise becomes governed by an enactment other than the Act, then all references herein to the Act shall be deemed to be references to such enactment as the
same may be amended or replaced from time to time. 
 18. Contribution. 
 In order to provide for just and equitable contribution in circumstances in which the indemnification provided for herein is held by a court of competent jurisdiction to be unavailable to the Indemnified Party in
whole or in part, it is agreed that, in such event, the Corporation shall, to the fullest extent permitted by law, contribute to the payment of the Indemnified Party’s costs, charges and expenses (including reasonable attorneys’ fees),
judgments, fines and amounts paid in settlement with respect to any action, suit or proceeding, whether civil, criminal, administrative or investigative, in an amount that is just and equitable in the circumstances, taking into account, among other
things, contributions by other directors and officers of the Corporation or others pursuant to indemnification agreements or otherwise; provided, that, without limiting the generality of the foregoing, such contribution shall not be deemed required
where such holding by the court is due to the failure of the Indemnified Party to meet the Standard of Conduct. 
 19. Enforcement 
 The Corporation shall be precluded from asserting in any judicial proceeding that the procedures and presumptions of this Agreement are not valid, binding
and enforceable. The Corporation agrees that its execution of this Agreement shall constitute a stipulation by which it shall be irrevocably bound in a court of competent jurisdiction in which a proceeding by an Indemnified Party for enforcement of
his rights hereunder shall have been commenced, continued or appealed, that the obligations set forth in this Agreement are unique and special, and that the failure of the Corporation to comply with the provisions of this Agreement will cause
irreparable and irremediable injury to the Indemnified Party, for which a remedy at law will be inadequate. As a result, in addition to any other right or remedy the Indemnified Party may have at law or in equity with respect to breach of this
Agreement, the Indemnified Party shall be entitled to injunctive or mandatory relief directing specific performance by the Corporation of its obligations under this Agreement. The Corporation acknowledges and agrees that the Indemnified Party shall
not be required to post any bond or security in any action for injunctive or mandatory relief directing specific performance by the Corporation of its obligations under this Agreement. 
 20. Interpretation of Agreement 
 It is understood that the parties hereto intend this Agreement to be
interpreted and enforced so as to provide indemnification to the Indemnified party to the fullest extent now or hereafter permitted by law. 
 21. Service
of Process and Venue 
 For purposes of any claims or proceedings to enforce this Agreement, the Corporation hereby consents to the
jurisdiction and venue of any federal or state court of competent jurisdiction in the State of Texas and waives and agrees not to raise any defense that any such course is an inconvenient forum or any similar claim. 
  

 8 

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

  

							
	 	 	 	 	GASTAR EXPLORATION LTD.
				
		 		 	Per:	 	  

			
	  
	 		 	  

	Witness	 		 	

  

 9

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