Document:

Exhibit 10.3

 

NBTY- Management Incentive Plan (MIP)

US Based Associates

 

The NBTY Management Incentive Plan (the Plan) is directly linked to the company’s growth and profitability objectives, and supports a culture where performance drives compensation.

 

I. Plan Eligibility

 

NBTY employees (Associates) whose position is at or above the Supervisor level, manage a significant process or function or were previously eligible for the MIP plan under earlier eligibility rules, may be eligible to participate in the Plan (each such Associate, a “participant”), with the exception of Associates who are on another NBTY incentive plan including, but not limited to, Sales Incentive Plans, Year End Bonus (YEB), etc.  Contractors and student interns also are excluded from the Plan.

 

II. Plan Structure

 

A participant’s incentive payout is influenced by the following components:

 

A.            NBTY’s Financial Performance

 

B.            Assessment of NBTY’s  Performance by the CEO and NBTY’s Compensation Committee

 

C.            Assessment of Business Unit performance by the CEO

 

D.            Associate’s Base Salary & Incentive Target Percent

 

E.            Associate’s Individual Performance

 

For purposes of this plan, “Business Unit” will be used to describe the Global Wholesale, Puritan’s Pride, Vitamin World Headquarters staff, Supply Chain and Corporate Support/Staff Functions.

 

A.                  NBTY Financial Performance

 

The amount of funding that is available to distribute to the Business Units, and subsequently to Associates, is based on NBTY’s financial performance. It is anticipated that the plan will fund at 50% when NBTY meets threshold performance, at 100% when plan performance is met, and at 200% when maximum performance is achieved (after accruing for the bonus payout).

 

B.                  Assessment of NBTY Performance by the CEO and NBTY’s Compensation Committee

 

The actual amount of funding available may be adjusted up or down based on the joint discretion of the CEO and NBTY Compensation Committee’s assessment of the overall performance of NBTY.

 

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C.                  Assessment of Business Unit Performance by the CEO

 

Each Business Unit is allocated a portion of the overall NBTY funding based on:

 

How the Business Unit performs against its own performance commitments and contribution to NBTY EBITDA and CEO discretion.

 

D.                  Associate’s Base Salary & Incentive Target Percent

 

Incentive opportunity (the amount of incentive an Associate is eligible to receive) is based on their base salary as of September 30th and his/her incentive target percent.

 

Incentive opportunity is calculated as follows:

 

·                  Incentive Opportunity = base salary as of September 30th x target incentive %

·                  Funded Incentive Opportunity = Incentive opportunity x Business Unit  assessment

 

E.                  Associate’s Individual Performance

 

·                  The amount of incentive that each Associate receives depends on their personal performance (i.e. high-performing employees are eligible for higher rewards.)

·                  Performance is assessed by the Associate’s manager based on achievement of assigned performance goals and objectives.

·                  Based on this performance assessment, the manager will determine an applicable payout percentage that, in conjunction with an Associate’s funded incentive opportunity, will be used to determine the incentive payout amount.

·                  Senior management reserves the right to adjust an individual Associate’s payout amount if the calculated payout does not appropriately reflect effort, or extraordinary/unusual events.

 

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III. Changes to Eligibility Status

 

Form and Timing of Payment - Incentive awards will be paid in a single lump sum typically no later than mid- December immediately following the preceding Plan Year (generally within 90 days of the end of the prior Plan Year). Incentive awards may be pro-rated (or not paid at all) dependent upon the Associate’s active participation in the Plan Year, as follows:

 

A.            New Hire - Associates who begin their employment with NBTY on or before June 30 of the Plan Year are eligible to receive a pro-rated incentive award based on month of hire. (E.g. Associate hired May 21 of the Plan Year is eligible for 5 months of pro-ration).  Associates who begin work with NBTY on or after July 1 of the Plan Year are not eligible to participate in the Plan for that Plan Year.  (See attached pro-ration schedule.)

 

B.            Promotions, Demotions and Base Salary/Incentive Target Changes - The award for the Plan Year will be calculated based on the salary and target % as of September 30th (the last day of the Fiscal year), regardless of whether an eligible Associate has had a base salary and/or incentive target percent change during the Plan Year.

 

C.            Other Leave of Absence - Subject to applicable local policy and applicable law, eligible Associates who are absent from work due to an approved absence or leave will have their awards pro-rated to reflect the number of full weeks the Associate was on a leave of absence.  Associates who were absent from work due to an approved FMLA will not have their awards pro-rated for the time spent on an approved FMLA leave. Those on any leave of absence on the payment date will have their payment deferred until they return to work. If an associate does not return to work, they will not be eligible to receive any past awards due (subject to applicable law).  Awards not paid out within one year of the scheduled payout date will be forfeited.

 

D.            Voluntary Termination — No payment will be made to an Associate if they voluntarily terminate at any time during the Plan Year (October 1-September 30th), or prior to the payment date.

 

E.            Involuntary Termination — No payment will be made if an Associate is terminated, with or without cause, at any time during the Plan Year.  However, if the Associate is terminated by NBTY without cause after the completion of the Plan Year (September 30th) but before the award is paid (usually mid-December), then they will be eligible for their MIP award.  No payment, under any circumstances, will be made if the Associate is involuntary terminated for cause, as determined by NBTY.

 

F.             Death & Permanent Disability - In the event that employment ends due to death or permanent disability, awards will be pro-rated on the number of active months preceding death or permanent disability. Awards will be paid to the Associate’s beneficiaries on the same date as all other award payments.

 

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IV. General Conditions

 

Participation in the Plan is at the discretion of the Company.  The Company reserves the right to revise or terminate any of the provisions of this Plan or to terminate the Plan itself at any time without prior notice.  The Senior Director of Compensation will publish all such revisions to the Plan.

 

A.            The issuance of these guidelines for any year does not, in any way, commit the Company to pay a similar kind of compensation in any subsequent year.  Furthermore, the payment of an incentive award in any year shall not be considered a precedent for any subsequent year, and the payment shall not limit the Company’s absolute discretion in future years to pay, or not pay, any incentive award.

 

B.            Eligibility for participation and receipt of compensation under this Plan requires strict compliance with NBTY standards for ethical conduct and company policies.  Non-compliance, as determined by NBTY in its sole discretion, will constitute grounds for cancellation of incentive compensation eligibility.

 

C.            Participation in this Plan by any Associate of the Company is conditioned on the express agreement by the participant that he/she will not, directly (or indirectly) during (or after) his/her employment with the Company, transfer, or allow to be transferred, any Company confidential information to any person, firm, or organization not authorized by NBTY to receive such information.

 

D.            Participation in this Plan is conditioned on the express agreement by the participant that he/she executes any documents deemed necessary by the Company to administer the Plan.

 

E.            Any participant’s complaint regarding this Plan, or with respect to any incentives received pursuant to this Plan, must be received in writing by the Company from the participant within six (6) months after the end of the Plan Year.  Failure to formally register a complaint or claim for compensation will constitute a waiver of complaint on the participant’s behalf.

 

F.             Anything in this Plan to the contrary notwithstanding, the terms of this Plan shall be interpreted and applied in a manner consistent with the requirements of Section 409A of the United States Internal Revenue Code of 1986, as amended (the “Code”) and the Treasury Regulations thereunder so as not to subject an Associate to the payment of any tax penalty or interest which may be imposed by Section 409A of the Code and the Company shall have no right to accelerate or make any payment under this Plan except to the extent such action would not subject an Associate to the payment of any tax penalty or interest under Section 409A of the Code. It is intended that payments made under this Plan shall be exempt from compliance with Section 409A of the Code pursuant to the exemption for short-term deferrals set forth in Section 1.409A-1(b)(4) of the Treasury Regulations. If all or a portion of the payments provided under this Plan constitute taxable income to an Associate for any taxable year that is prior to the taxable year in which such payments are to be paid to such Associate as a result of the Plan’s failure to comply with the requirements of Section 409A of the Code and the Treasury Regulations, the applicable payment shall be paid immediately 

 

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to the associate to the extent such payment is required to be included in the Associates income.

 

V.    Plan Review & Approvals

 

This Plan document supersedes any and all prior incentive plans, policies and arrangements of NBTY.

 

All components of this Plan, including accompanying forms, and any updates, revisions, clarifications, and/or other modifications made by NBTY are proprietary and may not be altered or modified in any way unless authorized in writing by the Senior Director of Compensation and the Senior Vice President of Human Resources .  The Senior Vice President of Human Resources has the authority to interpret the Plan and to make all discretionary decisions relating to, exceptions to, and interpretations of the Plan and the administration and implementation thereof.

 

The Company maintains sole discretion to make any and all financial calculations necessary for the administration of this Plan, or the calculation of any incentive compensation hereunder, based on applicable NBTY policies and procedures.

 

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MIP PRO-RATION SCHEDULE

 

	
MONTH OF HIRE
    	
 
    	
PRO-RATION %
    	
 
    
	
October
    	
 
    	
100.0
    	
%
    
	
November
    	
 
    	
91.7
    	
%
    
	
December
    	
 
    	
83.3
    	
%
    
	
January 
    	
 
    	
75.0
    	
%
    
	
February
    	
 
    	
66.7
    	
%
    
	
March
    	
 
    	
58.3
    	
%
    
	
April
    	
 
    	
50.0
    	
%
    
	
May
    	
 
    	
41.7
    	
%
    
	
June 
    	
 
    	
33.3
    	
%
    
	
July 
    	
 
    	
0.0
    	
%
    
	
August
    	
 
    	
0.0
    	
%
    
	
September
    	
 
    	
0.0
    	
%
    

 

6EX-10.1

 Exhibit 10.1 

EMPLOYMENT AGREEMENT 

THIS AGREEMENT is made effective August 17, 2015 (the “Effective Date”), between SANDRIDGE ENERGY, INC., a Delaware
corporation (the “Company”), and Julian Bott, an individual (the “Executive”). 
 WITNESSETH: 

WHEREAS, the Company and the Executive desire to set forth in their entirety the terms of their agreements relating to the employment of
Executive by the Company. 
 NOW, THEREFORE, in consideration of the mutual promises herein contained, the Company and the Executive agree
as follows: 
 1. Employment. The Company hereby employs the Executive and the Executive hereby accepts such employment subject to
the terms and conditions contained in this Agreement. The Executive is engaged as an employee of the Company and the Executive and the Company do not intend to create a joint venture, partnership or other relationship that might impose a fiduciary
obligation on the Executive or the Company in the performance of this Agreement, other than as an officer of the Company. 
 2.
Executive’s Duties. The Executive is employed on a full-time basis. Throughout the term of this Agreement, the Executive will use his or her best efforts and due diligence to assist the Company in the objective of achieving the most
profitable operation of the Company and the Company’s affiliated entities consistent with developing and maintaining a quality business operation and complying with applicable laws. Except as provided in paragraph 3, the Executive shall devote
his or her entire business skill, time, and effort diligently to the affairs of the Company in accordance with the duties assigned to the Executive, and the Executive shall perform all such duties, and otherwise conduct himself/herself, in a manner
reasonably calculated in good faith by him to promote the best interests of the Company. 
 2.1 Specific Duties and
Reporting. Under this Agreement, the Executive shall report to the Chief Executive Officer (CEO) of the Company, or his or her successor, who, for purposes of this Agreement, will be referred to as the “Executive’s
Supervisor.” This reporting relationship may change from time to time in the discretion of the Executive’s Supervisor or the Company’s Board of Directors (the “Board”). During the term of this Agreement, the Executive
will serve as the Executive Vice President, Chief Financial Officer (CFO) for the Company, with such titles, duties and authorities as the Executive’s Supervisor or the Board may from time to time prescribe. The Executive will perform all of
the services required to fully and faithfully execute the position in accordance with the reasonable directives that he may receive from time to time from the Executive’s Supervisor or the Company’s Board of Directors (the
“Board”). 
 2.2 Rules and Regulations. From time to time, the Company may issue policies and
procedures applicable to employees and the Executive. The Executive agrees to comply with such policies and procedures, which may be supplemented, modified, changed or adopted without notice in the sole discretion of the Company at any time. In the
event of a conflict between such policies and procedures and this Agreement, this Agreement will control unless compliance with this Agreement will violate any law or regulation applicable to the Company or its affiliated entities. 

 3. Other Activities. The Executive shall not engage in any business activity that, in the
judgment of the Board, conflicts with the Executive’s duties hereunder, whether or not such activity is pursued for gain, profit or other pecuniary advantage. In addition, except for the activities permitted under paragraph 3.1 of this
Agreement or approved by the Board or the Chief Executive Officer, in writing, the Executive will not: (a) engage in activities that require such substantial services on the part of the Executive that the Executive is unable to perform the
duties assigned to the Executive in accordance with this Agreement; (b) serve as an officer or director of any publicly held entity; or (c) directly or indirectly invest in, participate in or acquire an interest in any oil and gas
business, including, without limitation, businesses (i) producing oil and gas, (ii) drilling, owning or operating oil and gas leases or wells, (iii) providing services or materials to the oil and gas industry, or (iv) marketing
or refining oil or gas. The limitations in this paragraph 3 will not prohibit an investment by the Executive in publicly traded securities or the maintenance of investment interests owned prior to the Effective Date. The Executive is not restricted
from maintaining or making investments, or engaging in other businesses, enterprises or civic, charitable or public service functions if such activities, investments, businesses or enterprises do not result in a violation of clauses (a) through
(c) of this paragraph 3. Notwithstanding the foregoing, the Executive will be permitted to participate in the activities set forth in paragraph 3.1 that will be deemed to be approved by the Company, if such activities are undertaken in strict
compliance with this Agreement. 
 3.1 Royalty Interests and Gifts. The foregoing restriction in clause (c) will
not prohibit the ownership of royalty interests where the Executive owns or previously owned the surface of the land covered by the royalty interest and the ownership of the royalty interest is incidental to the ownership of the surface estate or
the ownership of royalty, overriding royalty or working interests that are received by gift or inheritance subject to disclosure by the Executive to the Company in writing. 

4. Executive’s Compensation. The Company agrees to compensate the Executive as follows: 

4.1 Base Salary. The Executive will be paid a base salary (the “Base Salary”) at an annual rate
of not less than $425,000, which will be paid to the Executive in regular installments in accordance with the Company’s customary payroll practices during the term of this Agreement. 

 4.2 Annual Bonus. The Executive will be eligible to participate in
SandRidge’s annual incentive plan as in effect from time to time. For 2015, the Executive’s target annual bonus will be 90% of the Base Salary. This bonus is anticipated to be paid in the first quarter of 2016. The Executive
recognizes and acknowledges that the award of bonus compensation is not guaranteed or promised in any way. 
 4.3
Long-Term Incentive. The Executive will be eligible to receive annual grants of long-term incentive awards under and subject to the terms of SandRidge’s equity or other long-term incentive plan (including any applicable award agreement) as
in effect from time to time. The target value of the awards granted in 2015 will equal 350% of the Base Salary. Executive recognizes and acknowledges that the award of equity compensation is not guaranteed or promised in any way. 

4.4 Benefits. The Company sponsors a number of employee benefit plans, programs and arrangements for the benefit of its
employees, including retirement, medical, life and disability benefits. The Executive shall have the opportunity to participate in such plans, programs and arrangements to the same extent as other similarly-situated Company employees; however, any
participation in Company employee benefit plans, programs or arrangements is subject to the terms and conditions of the particular plan, program or arrangement, including any eligibility requirements, as they may exist from time to time. The
Executive recognizes and acknowledges that the Company has the right to amend, modify or terminate its employee benefit plans, programs and arrangements at any time. 

4.5 Paid Time Off (“PTO”). The Executive shall be eligible for 30 days of PTO each continuous year of
employment during the term of this Agreement under the Company’s PTO policy. Such PTO shall be calculated from the Executive’s original date of hire. No additional compensation will be paid for failure to take PTO and no PTO may be carried
forward from one twelve month period to another. 
 5. Term. The employment relationship evidenced by this Agreement is an “at
will” employment relationship and the Company reserves the right to terminate the Executive at any time with or without cause. This Agreement shall continue in full force and effect unless and until (i) the Executive’s employment is
terminated by either party in accordance with Section 6, and (ii) all obligations and liabilities of the parties arising in connection with such termination or otherwise accruing under this Agreement have been fully satisfied. The
“Termination Date” shall be the effective date of Executive’s termination of employment. Notwithstanding any contrary provision in this Agreement, nothing in this Agreement constitutes a guarantee of continued employment but
instead provides for certain rights and benefits during the Executive’s employment with the Company and if such employment terminates. Notwithstanding the foregoing, the Executive shall not receive severance benefits under more than one plan,
program or policy with the Company or other agreement with the Company. 

 6. Termination. 

6.1 Termination by Company. The Company will have the following rights to terminate Executive’s employment: 

6.1.1 Termination without Cause. The Company may terminate Executive’s employment without Cause at any time by the
service of written notice of termination to the Executive specifying a Termination Date not sooner than ten days after the date of such notice. If the Executive is terminated without Cause (other than a CC Termination under paragraph 6.4 of this
Agreement or on account of Executive’s incapacity or death under paragraphs 6.5 and 6.6 of this Agreement), the Executive will receive as termination compensation a lump sum payment equal to twelve months’ Base Salary as in effect on the
Termination Date (or, if greater, the highest Base Salary in effect during the three year period ending on the Termination Date), which shall be paid within 60 days of the Termination Date. However, if, on the Termination Date, the Executive is a
“specified employee” as defined in regulations under Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the termination compensation is “nonqualified deferred
compensation” that is subject to Section 409A, the payment will be made on the first payroll payment date that is more than six months following the Termination Date. The right to the termination compensation described above is subject to
the Executive’s execution and nonrevocation of the Company’s Separation Agreement and General Release, substantially in the form attached to this Agreement, which will operate as a release of all legally waivable claims against the Company
and its affiliates, employees and directors. The termination payment is further conditioned upon the Executive’s compliance with all of the provisions of this Agreement, including all post-employment obligations. 

6.1.2 Termination for Cause. The Company may terminate the employment of the Executive hereunder at any time for Cause
(as hereinafter defined) (such a termination being referred to in this Agreement as a “Termination For Cause”), by giving the Executive written notice of such termination which shall take effect immediately upon the giving of
such notice to the Executive. As used in this Agreement, “Cause” means (A) the Executive’s material breach or threatened breach of this Agreement; (B) the Executive’s failure to substantially
perform the Executive’s duties hereunder; (C) the misappropriation or fraudulent conduct by the Executive with respect to the assets or operations of the Company or any of its subsidiaries or affiliated companies; (D) the
Executive’s willful disregard of the instructions of the Executive’s Supervisor or the Board or the Executive’s material neglect of duties or failure to act, other than by reason of disability or death; (E) the Executive’s
personal misconduct which, in the judgment of the Company, 

 
could reasonably be expected to substantially injure the Company or its reputation; or (F) the conviction of the Executive for, or a plea of guilty or no contest to, a felony or any crime
involving fraud, theft, dishonesty, or moral turpitude. If the Executive’s employment is terminated for Cause, the Company will not have any obligation to provide any further payments or benefits to the Executive after the effective date of
such termination other than to the extent required by law. 
 6.2 Termination by Executive. The Executive may
voluntarily terminate his or her employment by the service of written notice of such termination to the Company specifying an effective date of such termination 30 days after the date of such notice. The Company may in its sole discretion, elect to
waive all or any part of the 30-day notice period with no further obligations being owed to the Executive by the Company. If the Executive terminates his or her employment, neither the Company nor the Executive will have any further obligations
hereunder, except as provided in paragraph 14. 
 6.3 Termination After Change in Control. If, during the term of this
Agreement there is a “Change in Control” and within two years thereafter there is a CC Termination (as hereafter defined), then the Executive will be entitled to a severance payment (in addition to any other rights and other amounts
payable to the Executive under paragraph 6.8 or under Company plans in which Executive is a participant) payable in a lump sum in cash in an amount equal to three times the sum of: (a) the Executive’s Base Salary in effect on the
Termination Date (or, if greater, the highest Base Salary in effect during the three year period ending on the Termination Date), and (b) the Executive’s Average Annual Bonus (as hereafter defined), which shall be paid within 60 days
following the CC Termination. The term “Average Annual Bonus” means (x) if the CC Termination occurs before the annual bonus is paid for the executive’s first year of employment, 90% of the Executive’s Base Salary as
in effect on the Effective Date, or (y) otherwise, the average annual bonus paid pursuant to paragraph 4.2 for the preceding three years (or such lesser number of years as the Executive may have been employed). If the foregoing amount is not
paid within 60 days after the CC Termination, the unpaid amount will bear interest at the per annum rate of twelve percent beginning on the 61st day after the CC Termination. However, if, on the date of the CC Termination, the Executive is a
“specified employee” as defined in regulations under Section 409A of the Code and the severance payment is “nonqualified deferred compensation” that is subject to Section 409A, the payment will be made on the first
payroll payment date that is more than six months following the date of the CC Termination. If a severance payment subject to Section 409A is not paid on the first payroll payment date that is more than six months following the date of the CC
Termination, the unpaid amount will bear interest at the per annum rate of twelve percent beginning on the day after the first payroll payment date that is more than six months following the date of the CC Termination. The right to the termination
compensation described above is subject to the Executive’s execution and nonrevocation of the Company’s Separation Agreement and General Release, substantially in the 

 
form attached to this Agreement, which will operate as a release of all legally waivable claims against the Company and its affiliates, employees and directors. Such payment is further
conditioned upon the Executive’s compliance with all of the provisions of this Agreement, including all post-employment obligations. 

6.3.1 Change in Control. For the purpose of this Agreement, a “Change in Control” shall mean that any
one of the following applies: 
 (a) The acquisition by any individual, entity or group (within the meaning of
Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”), of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act)
of 40% or more of either (i) the then-outstanding shares of the Company’s common stock (the “Outstanding Company Common Stock”) or (ii) the combined voting power of the then-outstanding voting securities of the
Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”). For purposes of this paragraph (a) the following acquisitions by a Person will not constitute a Change in Control:
(i) any acquisition directly from the Company; (ii) any acquisition by the Company; or (iii) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any entity controlled by the
Company. 
 (b) The individuals who, as of the Executive’s original date of hire constitute the Board (the
“Incumbent Board”) cease for any reason to constitute at least a majority of the Board. Any individual becoming a director subsequent to the date described in the preceding sentence whose election, or nomination for election by the
Company’s stockholders, is approved by a vote of at least a majority of the directors then comprising the Incumbent Board will be considered a member of the Incumbent Board, but any such individual whose initial assumption of office occurs as a
result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Incumbent Board will be deemed a
member of the Incumbent Board only upon the third anniversary of such assumption of office. 
 (c) The consummation of a
reorganization, merger, consolidation or sale or other disposition of all or substantially all of the assets of the Company (a “Business Combination”), unless following such Business Combination: (i) the individuals and
entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 60% 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 entity resulting from such Business Combination (including, without limitation, a corporation that 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 to one another 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, (ii) no Person (excluding any entity resulting from such Business Combination or any employee benefit plan (or related trust) of the Company or such entity resulting from such Business
Combination) beneficially owns, directly or indirectly, 40% or more of, respectively, the then-outstanding shares of common stock of the entity resulting from such Business Combination or the combined voting power of the then-outstanding voting
securities of such entity except to the extent that such ownership existed prior to the Business Combination and (iii) at least a majority of the members of the Board of the corporation resulting from such Business Combination were members of
the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination; or 

(d) The approval by the stockholders of the Company of a complete liquidation or dissolution of the Company. 

6.3.2 Legal Expenses After a CC Termination. The Company will pay or reimburse the Executive for reasonable legal fees
(including, without limitation, any and all court costs and reasonable attorneys’ fees and expenses) incurred by the Executive in connection with or as a result of any claim, action or proceeding brought by the Company or the Executive
following a CC Termination that entitles the Executive to a severance payment under paragraph 6.3; provided, however, that the Company will have no obligation to pay any such legal fees, if in the case of an action brought by the Executive, the
Company is successful in establishing with the court that the Executive’s action was frivolous or otherwise without any reasonable legal or factual basis. 

6.4 CC Termination. The term “CC Termination” means any of the following: (a) the Executive’s
employment is terminated by the Company other than under paragraph 6.1.2, 6.5 or 6.6; (b) the Executive resigns as a result of a material diminution in the Executive’s authority, duties, or responsibilities, a material reduction in the
Executive’s then current Base Salary or a material reduction in the Executive’s then current benefits as provided in paragraph 4, a relocation of more than 50 miles from the Executive’s then current place of employment being required
by the Board or the Executive’s Supervisor, or a material breach by the Company under this Agreement; or (c) the Executive resigns in connection with a Change in Control as a result of the Company’s failure to obtain the assumption of
this Agreement, without limitation or reduction, by any successor to the Company or any parent corporation of the Company. 

 6.5 Incapacity of Executive. If the Executive suffers from a physical or
mental condition that qualifies the Executive for benefits under the Company’s Long Term Disability policy (or would qualify the Executive for benefits if the Executive was covered by the Long Term Disability policy), the Executive’s
employment may be terminated by the Company, in which event, the Company will pay Executive a lump sum equal to twelve months’ Base Salary in effect on the Termination Date (or, if greater, the highest Base Salary in effect during the three
year period ending on the Termination Date), which shall be paid within 60 days following the Termination Date. However, if, on the Termination Date, the Executive is a “specified employee” as defined in regulations under Section 409A
of the Code and the termination payment is “nonqualified deferred compensation” that is subject to Section 409A and is considered to be triggered by the Executive’s “separation from service,” such payment will be made
on the first payroll payment date which is more than six months following the Termination Date. Notwithstanding the foregoing, the amount payable hereunder will be reduced by any benefits payable under any disability plans provided by the Company
under paragraph 4.4 of this Agreement. The right to the compensation due under this paragraph 6.5 is subject to the execution and nonrevocation by the Executive or the Executive’s legal representative of the Company’s Separation Agreement
and General Release, substantially in the form attached to this Agreement, which will operate as a release of all legally waivable claims against the Company and its affiliates, employees and directors. In applying this paragraph, the Company will
comply with any applicable legal requirements, including the Americans with Disabilities Act. 
 6.6 Death of
Executive. If the Executive dies during the term of this Agreement, Executive’s employment will terminate without compensation to the Executive’s estate except the obligation to pay the Executive’s estate a lump sum equal to
twelve months’ Base Salary in effect on the date of death (or, if greater, the highest Base Salary in effect during the three year period ending on the date of death). 

6.7 Effect of Termination. Subject to paragraph 14, the termination of Executive’s employment will terminate all
obligations of the Executive to render services on behalf of the Company. All keys, entry cards, credit cards, files, records, financial information, furniture, furnishings, computers, cellular phones, smart phones, equipment, supplies and other
items relating to the Company will remain the property of the Company. The Executive will have the right to retain and remove all personal property and effects that are owned by the Executive and located in the offices of the Company. All such
personal items will be removed from such offices no later than 14 days after the effective date of termination, and the Company is hereby authorized to discard any items remaining and to reassign the Executive’s office space after such date.
Prior to the effective date of termination, the Executive will cooperate with the Company to provide for the orderly separation of the Executive’s employment. 

 6.8 Equity Compensation Provisions. Notwithstanding any provision to the
contrary in any option agreement, restricted stock agreement, plan or other agreement relating to equity based compensation, in the event of a termination under paragraph 6.1.1 or 6.3 of this Agreement: (a) all units, stock options, incentive
stock options, performance shares, stock appreciation rights and restricted stock granted and held by Executive immediately prior to such termination (other than any sign-on grant of restricted stock) will immediately become 100% vested; and
(b) the Executive’s right to exercise any previously unexercised options will not terminate until the latest date on which such option would expire but for Executive’s termination of employment. To the extent the Company is unable to
provide for one or both of the foregoing rights the Company will provide in lieu thereof a lump-sum cash payment equal to the difference between the total value of such units, stock options, incentive stock options, performance shares, stock
appreciation rights and shares of restricted stock (the “Equity Compensation Rights”) with the foregoing rights as of the date of Executive’s termination of employment and the total value of the Equity Compensation Rights
without the foregoing rights as of the date of the Executive’s termination of employment. The foregoing amounts will be determined by the Board in good faith based on a valuation performed by an independent consultant selected by the Board and
the cash payment, if any, will be paid in a lump sum in the case of a termination under paragraph 6.1.1, at the same time as the severance payment is otherwise due under such paragraph (except for any cash payment made with respect to performance
shares or performance share units, which will be made when those awards otherwise would have been paid), and in the case of a termination under paragraph 6.3, at the same time the payment is due under such paragraph. The right to the foregoing
termination compensation under clauses (a) and (b) above is subject to the Executive’s execution and nonrevocation of the Company’s Separation Agreement and General Release, substantially in the form attached to this Agreement,
which will operate as a release of all legally waivable claims against the Company and its affiliates, employees and directors. Such payment is further conditioned upon the Executive’s compliance with all of the provisions of this Agreement,
including all post-employment obligations. 
 6.9 Application of Section 4999. If any amount payable to the
Executive under this Agreement or otherwise would constitute a “parachute payment” within the meaning of Section 280G of the Code and, but for this paragraph 6.9, would be subject to the excise tax imposed by Section 4999 of the
Code (the “Excise Tax”), then the Executive’s payments hereunder shall be reduced to the greatest amount that would not be subject to the Excise Tax if, after taking into account applicable federal, state, local and foreign
income and employment taxes, the Excise Tax, and any other applicable taxes, the Executive would retain a greater amount on an after-tax basis following such reduction. 

6.10 Sole Source of Severance Benefits. This paragraph 6 is intended to be the Executive’s sole source of severance
benefits from the Company. If the Executive is or becomes eligible to receive severance under 

 
another plan, program or policy with the Company or other agreement with the Company, the amount paid under paragraph 6 will be reduced by the severance amount paid under another plan, program or
policy with the Company or other agreement with the Company. 
 7. Confidentiality. The Executive recognizes that the nature of the
Executive’s services are such that the Executive will have access to information that constitutes trade secrets, is of a confidential nature, is of great value to the Company or is the foundation on which the success of the Company is
predicated. The Executive agrees not to disclose to any person other than the Company’s employees or the Company’s legal counsel or other parties authorized by the Company to receive confidential information (“Confidential
Information”) nor use for any purpose, other than the performance of this Agreement, any Confidential Information. Confidential Information includes data or material (regardless of form) that is: (a) a trade secret; (b) provided,
disclosed or delivered to Executive by the Company, any officer, director, employee, agent, attorney, accountant, consultant, or other person or entity employed by the Company in any capacity, any customer, borrower or business associate of the
Company or any public authority having jurisdiction over the Company of any business activity conducted by the Company; or (c) produced, developed, obtained or prepared by or on behalf of Executive or the Company (whether or not such
information was developed in the performance of this Agreement) with respect to the Company or any assets oil and gas prospects, business activities, officers, directors, employees, borrowers or customers of the foregoing. However, Confidential
Information will not include any information, data or material that at the time of disclosure or use was generally available to the public other than by a breach of this Agreement, was available to the party to whom disclosed on a non-confidential
basis by disclosure or access provided by the Company or a third party, or was otherwise developed or obtained independently by the person to whom disclosed without a breach of this Agreement. On request by the Company, the Company will be entitled
to a copy of any Confidential Information in the possession of the Executive. The provisions of this paragraph 7 will survive the termination, expiration or cancellation of Executive’s employment. The Executive will deliver to the Company all
originals and copies of the documents or materials containing Confidential Information by the 14th day following his or her termination. For purposes of paragraphs 7, 8, and 9 of this Agreement, the Company expressly includes any of the
Company’s subsidiaries or affiliates. 
 8. Non-Solicitation. The Executive agrees that during the Non-Solicitation Period (as
hereafter defined), Executive will not directly, either personally or by or through his or her agent, on behalf of himself/herself or on behalf of any other individual, association or entity, (i) use any of the Confidential Information for the
purposes of calling on or soliciting any established customer of the Company for providing to any such customer a product or service provided by the Company or any affiliate or subsidiary of the Company; (ii) solicit, influence or encourage any
established customer of the Company to (A) divert or direct business to the Executive or any person or entity by which or with which the Executive is employed, associated, affiliated or otherwise related, or (B) acquire any product or
service provided by the Company; or (iii) solicit, divert or attempt to solicit or divert any person or entity who has been identified and 

 
contacted by the Company, either directly or through such entity’s agent(s), with respect to a possible acquisition by, or transaction with, the Company. For the purposes hereof, the term
“Non-Solicitation Period” shall mean a period of twelve months after Executive’s employment ceases for any reason. 

9. Non-Interference. The Executive agrees that during the Non-Interference Period (as hereafter defined) he/she will not, directly or
indirectly, either personally or by or through his or her agent, on behalf of himself/herself or on behalf of any other individual, association or entity, hire, solicit or seek to hire any employee of the Company or any affiliate or subsidiary of
the Company, or any individual who was an employee of the Company or any affiliate or subsidiary of the Company during the twelve-month period prior to the Termination Date, or in any other manner attempt, directly or indirectly, to persuade any
such employee to discontinue his or her employment with the Company or any affiliate or subsidiary of the Company or to become employed in a business or activities likely to be competitive with the business of the Company or any affiliate or
subsidiary of the Company. For the purposes hereof, the term “Non-Interference Period” shall mean a period of twelve months after Executive’s employment ceases for any reason. 

10. Severability. It is the desire and intent of the parties hereto that the provisions of this Agreement be enforced to the fullest
extent permissible under the laws and public policies applied in each jurisdiction in which enforcement is sought. Accordingly, if any particular provision of this Agreement shall be adjudicated by a court of competent jurisdiction to be invalid,
prohibited or unenforceable for any reason, such provision, as to such jurisdiction, shall be ineffective, without invalidating the remaining provisions of this Agreement or affecting the validity or enforceability of such provision in any other
jurisdiction. Notwithstanding the foregoing, if such provision could be more narrowly drawn so as not to be invalid, prohibited or unenforceable in such jurisdiction, it shall, as to such jurisdiction, be so narrowly drawn, without invalidating the
remaining provisions of this Agreement or affecting the validity or enforceability of such provision in any other jurisdiction. 
 11.
Remedies. The Executive acknowledges and understands that the provisions of this Agreement are of a special and unique nature, the loss of which cannot be adequately compensated for in damages by an action at law, and that the breach or
threatened breach of the provisions of this Agreement would cause the Company or any of its subsidiaries irreparable harm. In the event of a breach or threatened breach by the Executive of the provisions of this Agreement, the Company or any of its
subsidiaries or affiliates shall be entitled to an injunction restraining the Executive from such breach. In addition to the foregoing and not in any way in limitation thereof, or in limitation of any right or remedy otherwise available, if the
Executive violates any provision of paragraph 7, 8 or 9 hereof, any compensation or severance payments then or thereafter due from the Company to the Executive shall be terminated forthwith and the Company’s obligation to pay and the
Executive’s right to receive such compensation as severance payments shall terminate and be of no further force or effect, in each case without limiting or affecting the Executive’s obligations under paragraphs 7, 8 and 9 or the
Company’s or its subsidiaries’ or affiliates’ other rights or 

 
remedies available at law or in equity. Nothing contained in this Agreement shall be construed as prohibiting the Company or any of its subsidiaries or affiliates from pursuing, or limiting the
Company’s or any of its subsidiaries’ or affiliates’ ability to pursue, any other remedies available for any breach or threatened breach of this Agreement by the Executive. 

12. Proprietary Matters. 

12.1 The Executive acknowledges and agrees that the Company owns all right, title and interest (including patent rights,
copyrights, trade secret rights, trademark rights and all other intellectual and industrial property rights) relating to any and all inventions (whether or not patentable), works of authorship, design, know-how, ideas and information made or
conceived or reduced to practice, in whole or in part, by the Executive during the term of this Agreement which are useful in, or directly or indirectly related to, the business of the Company or any Confidential Information (collectively, the
“Proprietary Rights”). The Executive further acknowledges and agrees that all such Proprietary Rights are “works made for hire” of which the Company is the author. The Executive agrees to promptly disclose and provide all
Proprietary Rights to the Company; provided, in the event the Proprietary Rights shall not be deemed to constitute “works made for hire,” or in the event the Executive should, by operation of law or otherwise, be deemed to retain any
rights in the Proprietary Rights, the Executive agrees to assign to the Company, without further consideration, the Executive’s entire right, title and interest in and to each and every such Proprietary Right. 

12.2 The Executive hereby agrees to assist Company in obtaining and enforcing United States and/or foreign letters
patent and copyright registrations covering the Proprietary Rights and further agrees that Executive’s obligation to assist Company shall continue beyond the termination of Executive’s employment hereunder. If Company is unable because of
Executive’s mental or physical incapacity or for any other reason to secure Executive’s signature to apply for or to pursue any application for any United States or foreign letters patent or copyright registrations covering inventions
assigned to Company, then Executive hereby irrevocably designates and appoints Company and its duly authorized officers and agents as Executive’s agent and attorney-in-fact to act for and on Executive’s behalf to execute and file any such
applications and to do all other lawfully permitted acts to further the prosecution and issuance of letters patent or copyright registrations thereon with the same legal force and effect as if executed by Executive. Executive hereby waives and
quitclaims to Company any and all claims of any nature whatsoever which Executive now or hereafter may have for infringement of any patent or copyright resulting from any such application for letters patent or copyright registrations assigned
hereunder to Company. Executive will further assist Company in every lawful way to enforce any copyrights or patents obtained, including without limitation, testifying in any suit or proceeding involving any of the copyrights or patents or executing
any documents deemed necessary by Company, all without further consideration except as contemplated by the immediately following sentence but at the 

 
expense of Company. If Executive is called upon to render such assistance after termination of Executive’s employment hereunder, then Executive shall be entitled to a fair and reasonable per
diem fee (which shall not be less than Executive’s equivalent daily Base Salary) in addition to reimbursement of any expenses incurred at the request of Company. 

13. Governing Law and Venue. To the extent not preempted by federal law, the provisions of this Agreement shall be construed and
enforced in accordance with the laws of the State of Oklahoma, excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this provision to the substantive law of another jurisdiction.
Each party hereby agrees that Oklahoma City, Oklahoma is the proper venue for any litigation seeking to enforce any provision of this Agreement, and each party hereby waives any right it otherwise might have to defend, oppose, or object to, on the
basis of jurisdiction, venue, or forum nonconveniens, a suit filed by the other party in any federal or state court in Oklahoma City, Oklahoma to enforce any provision of this Agreement. 

14. Survival. In the event of termination of employment, neither the Company nor the Executive will have any further obligations
hereunder, except for any obligations that expressly survive termination of employment including paragraphs 6, 7, 8, 9, 10, 11, 12 and 13. 

15. Miscellaneous. The parties further agree as follows: 

15.1 Time. Time is of the essence of each provision of this Agreement. 

15.2 Notices. Any notice, payment, demand or communication required or permitted to be given by any provision of this
Agreement will be in writing and will be deemed to have been given when received by personal delivery, by facsimile, by overnight courier, or by certified mail, postage and charges prepaid, directed to the following address or to such other or
additional addresses as any party might designate by written notice to the other party: 
  

			
	To the Company:	  	SandRidge Energy, Inc.
		  	123 Robert S. Kerr Ave.
		  	Oklahoma City, OK 73102
		  	Attn: R. Scott Griffin
		
	To the Executive:	  	to the Executive at the address set forth below such Executive’s signature hereto.

 15.3 Assignment. The Company may assign its rights and obligations under this Agreement
to any subsidiary or affiliate, and any entity to which this Agreement is assigned shall be treated as the Company for purposes of this Agreement. The Executive may not transfer or assign this Agreement or any of his or her rights or interests
herein, in whole or in part, to any other person or entity without the prior written consent of the Company. 

 15.4 Construction. If any provision of this Agreement or the application
thereof to any person or circumstances is determined, to any extent, to be invalid or unenforceable, the remainder of this Agreement, or the application of such provision to persons or circumstances other than those as to which the same is held
invalid or unenforceable, will not be affected thereby, and each term and provision of this Agreement will be valid and enforceable to the fullest extent permitted by law. 

15.5 Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto with respect to the
subject matter herein contained, and no modification hereof will be effective unless made by a supplemental written agreement executed by all of the parties hereto. 

15.6 Binding Effect and Third Party Beneficiary. This Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective affiliates, officers, employees, agents, successors and assigns (including, in the case of the Company or any of its subsidiaries or affiliated companies, the successor to the business of the Company as a result
of the transfer of all or substantially all of the assets or capital stock of the Company or any of its subsidiaries or affiliates). 

15.7 Supersession. This Agreement is the final, complete and exclusive expression of the agreement between the Company
and the Executive and supersedes and replaces in all respects any prior oral or written employment agreements. On execution of this Agreement by the Company and the Executive, the relationship between the Company and the Executive after the
effective date of this Agreement will be governed by the terms of this Agreement and not by any other agreements, oral or otherwise. 

15.8 Non-Contravention. Executive represents and warrants to the Company that the execution and performance of this
Agreement will not violate, constitute a default under, or otherwise give rights to any third party, pursuant to the terms of any Agreement to which Executive is a party; ; provided, however, that the Company acknowledges that Executive has
provided the Company a copy of his Employment Agreement with Texas American Resources Company dated July 30, 2012 and Executive makes no representation or warranty with respect to the terms of that agreement. 

15.9 Indemnity. EXECUTIVE AGREES TO INDEMNIFY AND HOLD HARMLESS THE COMPANY, ITS DIRECTORS, OFFICERS AND EMPLOYEES AND
AGENTS (THE “INDEMNIFIED PARTIES”) AGAINST ANY LOSS, CLAIM, DAMAGE, LIABILITY OR EXPENSE, AS INCURRED, (“LOSS”) TO WHICH THE INDEMNIFIED PARTIES MAY BECOME SUBJECT OR INCUR, INSOFAR AS SUCH LOSS ARISES OUT OF OR IS
BASED UPON ANY INACCURACY IN ANY REPRESENTATION OR WARRANTY GIVEN BY EXECUTIVE IN THIS AGREEMENT INCLUDING REPRESENTATIONS AND WARRANTIES MADE IN PARAGRAPH 15.8 AND TO REIMBURSE THE INDEMNIFIED PARTIES

 
FOR ANY AND ALL EXPENSES (INCLUDING THE FEES AND DISBURSEMENTS OF COUNSEL CHOSEN BY THE INDEMNIFIED PARTIES) AS SUCH EXPENSES ARE REASONABLY INCURRED BY THE INDEMNIFIED PARTIES IN CONNECTION WITH
INVESTIGATING, DEFENDING, SETTLING, COMPROMISING OR PAYING ANY SUCH LOSS. 
 15.10 Compliance with Section 409A of
the Code. This Agreement shall be interpreted to ensure that the payments to be made to the Executive are exempt from, or comply with, Section 409A of the Code; provided, however, that nothing in this Agreement shall be interpreted or
construed to transfer any liability for any tax (including a tax or penalty due as a result of a failure to comply with Section 409A) from the Executive to the Company or to any other individual or entity. Any payment to the Executive that is
subject to Section 409A and that is contingent on a termination of employment is contingent on a “separation from service” within the meaning of Section 409A. Each payment shall be considered to be a separate payment for purposes
of Section 409A. If, upon separation from service, the Executive is a “specified employee” within the meaning of Section 409A, any payment that is subject to Section 409A and would otherwise be paid within six months after
the Executive’s separation from service will instead be paid in the seventh month following the Executive’s separation from service to the extent required by Section 409A(a)(2)(B)(i). Any taxable reimbursement shall be paid no later
than December 31 of the year after the year in which the expense is incurred and shall comply with Treas. Reg. § 1.409A-3(i)(1)(iv). If the period during which the Executive has discretion to execute or revoke a release straddles two
calendar years, the Company shall make the payments that are conditioned upon the release no earlier than January 1st of the second of such calendar years, regardless of which taxable year the Executive delivers the executed release to the
Company. 
 15.11 Withholding of Taxes. The Company may withhold from any amounts payable under this Agreement all
taxes that the Company reasonably determines to be required to be withheld pursuant to any law, regulation, or ruling. However, it is the Executive’s obligation to pay all required taxes on any amounts paid under this Agreement, regardless of
the extent to which amounts are withheld. 
 15.12 Nonduplication of Benefits. No provision of this Agreement shall
require the Company to provide the Executive with any payment, benefit or grant that duplicates any payment, benefit or grant that the Executive is entitled to receive under another plan, program or policy with the Company or other agreement with
the Company. 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement, effective the date first above
written. 
  

									
	SANDRIDGE ENERGY, INC. (the “Company”)	 		 		 	
					
	By:	 	/s/ James D. Bennett	 		 	August 4, 2015	 	
	James D. Bennett	 		 	Date	 	
	President and Chief Executive Officer	 		 		 	

 EXECUTIVE 
 By signing below, I
acknowledge that I have been given the opportunity to review this Agreement carefully; that I have read, understand, and voluntarily agree to its terms; and that this Agreement is the sole and complete agreement relating to my employment and
supersedes any prior oral or written employment agreement (and including any provisions in any such prior agreement that would otherwise survive its termination or expiration). 

 

							
	/s/ Julian Bott	 		  	August 4, 2015	  	
	Julian Bott	 		  	Date      	  	

 

 
 Agreement Date 

VIA HAND DELIVERY 

Mr./Ms. Executive Name 
 Street Address 

City, State Zipcode 
  

	Re:	Separation Agreement 

 Dear Executive: 

Thank you for your service to SandRidge Energy, Inc., and its affiliates (“SandRidge” or the “Company”). This letter, when fully executed,
will constitute the Separation Agreement between you and SandRidge concerning the terms of your separation from employment with SandRidge (the “Separation Agreement”). The attached General Release is part of the Separation Agreement, and
terms that are defined in this Separation Agreement have the same meaning when used in the General Release. 
  

	1.	Termination of Employment. SandRidge has made the decision to terminate your employment and your service as [Title], and any other position you hold with SandRidge, effective [Date], 2015 (the
“Separation Date”). 

  

	2.	Final Payment. You have been paid or will be paid your earned salary through the Separation Date. Your final paycheck will include payment for accrued and unused paid time off (“PTO”). If you
believe the amount of your final paycheck is incorrect, you agree to contact SandRidge immediately. 

  

	3.	Severance Payment. Consistent with the terms of your Employment Agreement, and in consideration of your service to SandRidge and your execution of this Separation Agreement and the General Release
contained hereafter, SandRidge will provide you with a severance payment equal to number (#) months’ base salary. 

In some situations, the Company may place you on leave prior to your Separation Date if your employment loss is a result of a “mass
layoff” or “plant closing” which may be covered by the federal Worker Adjustment and Retraining Notification Act (“WARN”) for a period of up to 60 days (“WARN Leave”). If you

 
are placed on WARN Leave, all or a portion of the severance benefits you may be entitled to receive shall be considered to be payments provided by the Company pursuant to WARN. In that event, any
payment of a severance benefit that you may receive shall be reduced dollar-for-dollar by payments required to be made to you pursuant to WARN and all other severance benefits otherwise provided to you under this Separation Agreement will be offset
by benefits provided pursuant to WARN. 
 These severance amounts will not otherwise be “benefit bearing” and will not be
considered as compensation for purposes of the Company’s 401(k) plan, the non-qualified deferred compensation plan or for accrual of PTO or other leave. 

You will receive the severance benefits only if you have returned an executed copy of this Separation Agreement and the accompanying
General Release during the 21/45-day period immediately following the date on which you receive this Separation Agreement and the General Release and you have not revoked the General Release within the seven-day revocation period provided in the
General Release. In order to receive or retain the severance benefits you must also return all SandRidge property within 14 days of your Separation Date (as described in paragraph 4, below) and comply with the covenants set forth in paragraphs 5
through 9, below. 
  

	4.	Return of SandRidge Property. If you have any Company property in your possession, you agree to return it to the People and Culture Department within 14 days of your Separation Date. SandRidge
property includes work product, electronic devices and other physical property of the Company. This includes equipment, supplies, keys, security items, credit cards, passwords, electronic devices, laptop computers, cellular phones and Blackberry
devices. You must also return all originals and any copies of Company records. This includes any disks, files, notebooks, etc. that you have personally generated or maintained with respect to the Company’s business, as well as any Company
records in your possession. 

  

	5.	Continued Assistance. You will continue to cooperate with and assist SandRidge and its representatives and attorneys as requested with respect to any investigations, litigation, arbitration or other
dispute resolutions by being available for interviews, depositions and/or testimony with regard to any matters in which you are or have been involved or with respect to which you have relevant information. SandRidge will reimburse you for reasonable
expenses you may incur for travel in connection with this obligation to assist SandRidge. In addition, SandRidge will compensate you at a reasonable hourly rate for all time spent providing such assistance. 

 

	6.	 Confidential Information. During the course of your employment with SandRidge, you have had access to and gained knowledge of
confidential and proprietary information; therefore, you agree not to make any independent use of or disclose to any other person or organization any of the Company’s confidential,

	 	
proprietary information unless you obtain the Company’s prior written consent. Confidential Information includes data or material (regardless of form) that is: (a) a trade secret;
(b) provided, disclosed or delivered to you by the Company, any officer, director, employee, agent, attorney, accountant, consultant, or other person or entity employed by the Company in any capacity, any customer, borrower or business
associate of the Company or any public authority having jurisdiction over the Company of any business activity conducted by the Company; or (c) produced, developed, obtained or prepared by you or on your behalf or the Company with respect to
the Company or any assets oil and gas prospects, business activities, officers, directors, employees, borrowers or customers of the foregoing. However, Confidential Information does not include any information, data or material that at the time of
disclosure or use was generally available to the public other than by a breach of this covenant, was available to the party to whom disclosed on a non-confidential basis by disclosure or access provided by the Company or a third party, or was
otherwise developed or obtained independently by the person to whom disclosed without a breach of this covenant. On request by the Company, the Company is entitled to a copy of any Confidential Information in your possession. 

If you are asked to testify, receive a subpoena, or provide information pertaining to the Company, you will immediately notify J. Matthew
Thompson, SandRidge Energy, Inc., 123 Robert S. Kerr Ave., Oklahoma City, Oklahoma 73102 by regular mail or email to mthompson@sandridgeenergy.com and provide a copy of the legal process documents so that, if appropriate, the Company may seek to
have the legal process quashed or a protective order granted. 
 You also agree that all such Confidential Information together with all
copies in any format thereof and notes and other summaries thereof are and will remain the sole property of SandRidge. You agree to return to SandRidge any such Confidential Information and all copies, notes or other summaries thereof which you may
have in your possession no later than the effective date of your separation. These obligations described in this paragraph apply whether you accept your severance payment or not. This commitment of confidentiality also applies to the terms of this
Separation Agreement, except for discussions with your spouse, your personal attorney and/or accountants, in connection with an application for unemployment insurance benefits or as needed to enforce our Agreement. Any disclosure by such individuals
will be deemed a disclosure by you and will have the same consequences as a breach of our agreements with you. 
  

	7.	 No Influence or Solicitation of Employees or Business. You agree that, for the one-year period immediately following the Separation
Date, you will not, either personally or by or through his or her agent, on behalf of himself or herself or on behalf of any other individual, association, or entity (i) use any of the Confidential Information for the purposes of calling on any
customer of the Company or soliciting or inducing any such customers to acquire, or providing to any of such customers, any product or service provided by the Company or any affiliate or subsidiary of the Company; (ii) solicit, influence or
encourage any 

	 	
established customer of the Company to divert or direct such customer’s business to you or any person or entity by which or with which you become employed, associated, affiliated or
otherwise related; (iii) solicit, divert or attempt to solicit or divert any entity which has been identified and contacted by the Company, either directly or through such entity’s agent(s), with respect to a possible acquisition by, or
transaction with, the Company; (iv) hire, solicit or seek to hire any employee of the Company, or any individual who was an employee of the Company during the twelve-month period prior to your termination of employment; or (v) in any other
manner attempt, directly or indirectly, to persuade any such employee to discontinue his or her status of employment with the Company or to become employed in a business or activities likely to be competitive with the business of the Company.

  

	8.	Future Activities. You will not be employed or otherwise act as an expert witness or consultant or in any similar paid capacity in any litigation, arbitration, regulatory or agency hearing or other
adversarial or investigatory proceeding involving the Company. 

  

	9.	Preserving Name and Reputation. You will not at any time in the future defame, disparage or make statements or disparaging remarks which could embarrass or cause harm to SandRidge’s name and
reputation or the names and reputation of any of its officers, directors, representatives, agents, employees or SandRidge’s current, former or prospective vendors, professional colleagues, professional organizations, associates or contractors,
or to the press or media. Disparagement means the form and substance of any communication, regardless of whether or not you believe it to be true, that tends to degrade or belittle SandRidge or subject it to ridicule or embarrassment. You agree this
paragraph is a material provision of this Separation Agreement and that in the event of breach, you will be liable for the return of the value of all consideration received as well as any other damages sustained by SandRidge. This paragraph does not
apply to statements made under penalty of perjury; however, you agree to give advance notice to SandRidge of such an event, to the extent practicable. 

  

	10.	Exceptions to Restrictions on Communications, Confidentiality and Future Activities. Nothing in this Agreement is intended to prohibit you from reporting possible violations of federal law or regulation to
any governmental agency or entity, including but not limited to the Department of Justice, the Securities and Exchange Commission, Congress, and any agency Inspector General, or making other disclosures that are protected under the whistleblower
provisions of federal law or regulation. In addition, you do not need the prior authorization of the Company to make any such reports or disclosures, nor are you required to notify the Company that you have made such reports or disclosures. Further,
nothing in this Paragraph or elsewhere in this Agreement prevents or prohibits you from communicating with the Equal Employment Opportunity Commission (or a similar fair employment practices agency of your State of residence or employment) or with
other similarly situated employees. 

	11.	Forfeiture. If you breach any of your obligations under this Separation Agreement, SandRidge will be entitled to stop payment of any benefit due under this Separation Agreement, has no further obligation
to pay any benefit due under this Separation Agreement, and will be entitled to recover any benefit paid under this Separation Agreement and to obtain all other relief provided by law or equity, including, but not limited to, injunctive relief.

  

	12.	Additional Warranties. You represent and warrant that as of this date you have suffered no work related injury during your employment with SandRidge and that you have no intention of filing a claim for
worker’s compensation benefits arising from any incident occurring during your employment with the Company. You further represent that you have accounted to the Company for any and all hours worked through your Separation Date, and that you
have been paid for such hours worked at the appropriate rate. You also represent and warrant that you are not due any unpaid vacation or sick pay, except as provided in paragraph 2 with respect to PTO. 

 

	13.	No Admission/Offer of Compromise. By making this severance offer, SandRidge is not admitting liability or responsibility for any past due wages or other consideration. Any alleged responsibility or
liability on the part of the Company has been and continues to be denied. In addition, this severance offer constitutes an offer of compromise pursuant to the applicable rules of evidence. 

 

	14.	Governing Law and Venue. To the extent not preempted by federal law, the provisions of this Separation Agreement, including the General Release, will be construed and enforced in accordance with the laws
of the State of Oklahoma, excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this provision to the substantive law of another jurisdiction. Each party hereby agrees that Oklahoma
City, Oklahoma, is the proper venue for any litigation seeking to enforce any provision of this Separation Agreement (including the General Release), and each party hereby waives any right it otherwise might have to defend, oppose, or object to, on
the basis of jurisdiction, venue, or forum non-conveniens, a suit filed by the other party in any federal or state court in Oklahoma City, Oklahoma, to enforce any provision of this Separation Agreement. 

 

	15.	Severability. If any portion, provision or part of this Separation Agreement is held, determined or adjudicated to be invalid, unenforceable or void for any reason whatsoever, each such portion, provision
or part shall be severed from the remaining portions, provisions or parts of this Separation Agreement and shall not affect the validity or enforceability of such remaining portions, provisions or parts. 

 

	16.	 Entire Agreement. This Separation Agreement between you and SandRidge, if you execute this Agreement, will be in consideration of the
mutual promises described above. This Separation Agreement, including the General Release, will constitute the entire agreement between you and SandRidge with respect to your separation from employment. You agree that you have no additional rights
under 

	 	
any employment agreement or arrangement. There are no other agreements, written or oral, expressed or implied, between the parties concerning the subject matter of this Separation Agreement.

 We wish you the best of luck and every success in your future endeavors. 

Sincerely, 
  

							
	SANDRIDGE ENERGY, INC.	 		 		 	
				
	Agreed to on behalf of SandRidge Energy, Inc.	 		 		 	
				
	  
	 		 		 	  

	R. Scott Griffin	 		 		 	Date
	SVP – People and Culture	 		 		 	

 By signing below, I acknowledge that I have been given the opportunity to review this Separation Agreement carefully; that I
have read this Separation Agreement and understand its terms; and that I voluntarily agree to them. 
  

							
	ACCEPTED AND AGREED TO BY:	 		 		 	
				
	  
	 		 		 	  

	[            NAME                    ]	 		 		 	Date

 NOTICE 

Various laws, including Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1866, as amended, the Pregnancy Discrimination Act of 1978, the
Equal Pay Act, the Civil Rights Act of 1991, the Age Discrimination in Employment Act, the Rehabilitation Act of 1973, the Americans with Disabilities Act Amendments Act, the Employee Retirement Income Security Act of 1974 and the Uniformed Services
Employment and Reemployment Rights Act (all as amended from time to time), prohibit employment discrimination based on sex, race, color, national origin, religion, age, disability, eligibility for covered employee benefits and military service
status. You may also have rights under laws such as the Older Worker Benefit Protection Act of 1990, the Worker Adjustment and Retraining Notification Act of 1988, the Fair Labor Standards Act, the Family and Medical Leave Act, the Occupational
Safety and Health Act and other federal, state and/or municipal statutes, orders or regulations pertaining to labor, employment and/or employee benefits. These laws are enforced through federal departments and agencies such as the United States
Department of Labor and the Equal Employment Opportunity Commission, and various state and municipal labor departments, fair employment boards, human rights commissions and similar agencies. 

You have until the close of business 21/45 days from the date you received the Separation Agreement and this General Release to make your decision to agree to
the Separation Agreement and receive a severance payment. You may sign the Separation Agreement at any time during that period. If you do not accept the severance package and sign and return the Separation Agreement and this General Release within
21/45 days, you will not be eligible for the severance package. 
 BEFORE EXECUTING EITHER THE PROPOSED SEPARATION AGREEMENT OR THIS GENERAL RELEASE YOU
SHOULD REVIEW THESE DOCUMENTS CAREFULLY AND CONSULT AN ATTORNEY, IF YOU THINK YOU NEED TO. 
 You may revoke this General Release within seven days after
you sign it, and it will not become effective or enforceable until that revocation period has expired. Revocation must be in writing and received by the Company’s People and Culture Department, 123 Robert S. Kerr Ave., Oklahoma City, OK 73102
or via fax (405) 429-5967, Attn: R. Scott Griffin, within the seven-day period following your execution of this General Release. 

 GENERAL RELEASE 

My employment with SandRidge or one of its affiliates (collectively the “Company”) is terminated effective on the Separation Date. In consideration
of the special severance package offered to me by SandRidge and the benefits that I will receive as reflected in the Separation Agreement, I,
                    , on behalf of myself and my heirs, assigns, executors, and administrators (collectively referred to as the
“Releasing Parties”), hereby release and discharge SandRidge and its subsidiaries, partners, and affiliates, including each of those entities’ predecessors, successors, affiliates, and partners and each of those entities’
employees, officers, directors and agents (collectively referred to as the “Released Parties”) from all claims, liabilities, demands, and causes of action, known or unknown, fixed or contingent, that I or the Releasing Parties may have or
claim to have against the Released Parties either as a result of my past employment with the Company and/or the severance of that relationship and/or otherwise, and hereby waive any and all rights I may have with respect to any such claims. 

This General Release includes, but is not limited to, claims arising under Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1866, as
amended, the Pregnancy Discrimination Act of 1978, the Equal Pay Act, the Civil Rights Act of 1991, the Age Discrimination in Employment Act, the Rehabilitation Act of 1973, the Americans With Disabilities Act Amendments Act, the Employee Retirement
Income Security Act of 1974 and the Uniformed Services Employment and Reemployment Rights Act (all as amended from time to time). This General Release also includes, but is not limited to, any rights I may have under the Older Workers Benefit
Protection Act of 1990, the Worker Adjustment and Retraining Notification Act of 1988, the Fair Labor Standards Act, the Family and Medical Leave Act, the Occupational Safety and Health Act and any other federal, state and/or municipal statutes,
orders or regulations pertaining to labor, employment and/or employee benefits. This General Release also applies to any claims or rights I or the Releasing Parties may have growing out of any legal or equitable restrictions on the Company’s
rights not to continue an employment relationship with its employees, including any expressed or implied employment contracts, and to any claims I or the Releasing Parties may have against the Released Parties for fraudulent inducement or
misrepresentation, defamation (except as set forth in the Separation Agreement), wrongful termination or other retaliation claims in connection with workers’ compensation or alleged “whistleblower” status or on any other basis
whatsoever. 
 It is specifically agreed, however, that this General Release does not have any effect on any rights or claims that I may have against the
Released Parties that arise after the date I execute this General Release or on any of the Company’s obligations under the Separation Agreement. [Officers Only: In addition, this General Release does not have any effect on any coverage I may
have, or may be entitled to, under any directors’ and officers’ liability insurance policy for any action or inaction taken in my role as director or officer of the Company.] 

 I have received copies and carefully reviewed and fully understand all the provisions of the Separation Agreement
and General Release, including the foregoing NOTICE. I have not relied on any representation or statement, oral or written, by the Company or any of its representatives, which is not set forth in those documents. 

The Separation Agreement, including this General Release and the foregoing NOTICE, set forth the entire agreement between me and the Company with respect to
this subject. I understand that my receipt and retention of the separation benefits covered by the Separation Agreement are contingent not only on my execution of this General Release, but also on my continued compliance with my other obligations
under the Separation Agreement. 
 I acknowledge that the Company gave me 21/45 days to consider whether I wish to accept or reject the separation benefits
I am eligible to receive under the Separation Agreement in exchange for this General Release. I also acknowledge that the Company advised me to seek independent legal advice as to these matters, if I chose to do so. I hereby represent and state that
I have taken such actions and obtained such information and independent legal or other advice, if any, that I believed were necessary for me to fully understand the effects and consequences of the Separation Agreement and this General Release prior
to signing those documents. 
 I acknowledge that I have been informed of my right to revoke this General Release within seven days after I sign it. I
represent and state that I fully understand how any such revocation is to be made and the consequences of any such revocation. 

Date:            , 2015 
  

	
	  

	[NAME]

 SCHEDULE 1 

[TO BE USED IN THE EVENT OF A GROUP TERMINATION ONLY] 

SandRidge Energy, Inc. Severance Agreement and General Release Agreement 

The following demographic information provided in the two tables below is provided to you for review and consideration in connection with signing the
SEVERANCE AGREEMENT AND GENERAL RELEASE. This list represents job titles and ages of employees of SandRidge whose employment has recently terminated. 
  

			
	 TITLE
	 	 AGE(S)

		 	
		 	
		 	

 This list represents the job titles and ages of current employees of SandRidge whose employment has not recently terminated.
Those employees by job title and age are as follows: 
  

			
	 TITLE
	 	 AGE(S)

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