Document:

mcep-ex101_178.htm

Exhibit 10.1

MID-CON ENERGY PARTNERS, LP
LONG-TERM INCENTIVE PROGRAM
EQUITY-SETTLED PHANTOM UNIT AGREEMENT

Pursuant to this Equity-Settled Phantom Unit Agreement, dated as of [____], 20__ (this “Agreement”), Mid-Con Energy Partners GP, LLC (the “Company”), as the general partner of Mid-Con Energy Partners, LP (the “Partnership”), hereby grants to [____________________] (the “Participant”) the following award of equity-settled phantom units (“Phantom Units”), pursuant and subject to the terms and conditions of this Agreement and the Mid-Con Energy Partners, LP Long-Term Incentive Program (the “Program”), the terms and conditions of which are hereby incorporated into this Agreement by reference. Each Phantom Unit shall constitute a Phantom Unit under the terms of the Program. Except as otherwise expressly provided herein, all capitalized terms used in this Agreement, but not defined, shall have the meanings provided in the Program.

GRANT NOTICE

Subject to the terms and conditions of this Agreement, the principal features of this Award are as follows:

Number of Phantom Units: [____] Phantom Units

Grant Date: [____], 20__

Vesting of Phantom Units: Subject to the terms and conditions of this Agreement, the Phantom Units shall become vested and nonforfeitable (“Vested Phantom Units”), provided that the Participant has continuously provided services to the Partnership Entities (including employment with the Partnership Entities or membership on the Board, as applicable), without interruption, from the Date of Grant through each applicable vesting date (each, a “Vesting Date”), in accordance with the following schedule:

		
	
Vesting Date
	
Portion Vested

	
__/__/20__
	
One-third of the Phantom Units

	
__/__/20__
	
One-third of the Phantom Units

	
__/__/20__
	
One-third of the Phantom Units

	
 
	
 

The number of Phantom Units that vest as of each date described above will be rounded down to the nearest whole Phantom Unit, with any remaining Phantom Units to vest with the final installment.

Forfeiture of Phantom Units: In the event of a cessation of the Participant’s Service for any reason, all Phantom Units that have not vested prior to or in connection with such cessation of Service shall, subject to Section 3(b) below, thereupon automatically be forfeited by the Participant without further action and for no consideration.

Payment of Phantom Units: Vested Phantom Units shall be paid to the Participant in the form of Units as set forth in Section 4 below.

TERMS AND CONDITIONS OF PHANTOM UNITS

	
1.
	
Grant. The Company hereby grants to the Participant, as of the Grant Date, an award of [____] Phantom Units, subject to all of the terms and conditions contained in this Agreement and the Program.

	
2.
	
Phantom Units. Subject to Section 3 below, each Phantom Unit that vests shall represent the right to receive payment, in accordance with Section 4 below, in the form of one (1) Unit. Unless and until a Phantom Unit vests, the Participant will have no right to payment in respect of such Phantom Unit. Prior to actual payment in respect of any 

{1992824;3}1 of 6

		
vested Phantom Unit, such Phantom Unit will represent an unsecured obligation of the Partnership, payable (if at all) only from the general assets of the Partnership.

	
3.
	
Vesting and Forfeiture.

	
 
	
(a)
	
Vesting. Subject to Section 3(c) below, the Phantom Units shall vest in such amounts and at such times as are set forth in the Grant Notice above.

	
 
	
(b)
	
Accelerated Vesting. Subject to Section 3(c) below, the Phantom Units shall vest in full upon the occurrence of any of the following events:

(i)Termination Other than due to Death or Disability. If, at any time prior to the final Vesting Date, the Participant’s employment with the Partnership Entities or membership on the Board, as applicable, is terminated for any reason other than the Participant’s death or disability, then all Phantom Units granted pursuant to this Agreement that have not yet vested as of the date of the Participant’s termination shall become null and void as of the date of such termination, shall be forfeited to the Company and the Participant shall cease to have any rights with respect thereto; provided, however, that the portion, if any, of the Phantom Units for which forfeiture restrictions have lapsed as of the Participant’s date of termination shall survive.

(ii)Termination due to Death or Disability. If, at any time prior to the final Vesting Date, the Participant’s employment with the Partnership Entities or membership on the Board, as applicable, is terminated by reason of the Participant’s death or disability, then all Phantom Units granted pursuant to this Agreement that remain unvested as of the date of the Participant’s termination shall immediately become fully vested and nonforfeitable as of the date of such termination.

(iii)Change of Control. In the event of a Change of Control prior to the final Vesting Date, except as otherwise provided in the Program, all restrictions described in Section 2 shall lapse and all Phantom Units granted pursuant to this Agreement shall become immediately vested and nonforfeitable.

	
 
	
(c)
	
Forfeiture. Notwithstanding the foregoing, in the event of a cessation of the Participant’s service for any reason, other than due to death or disability, all Phantom Units that have not vested prior to or in connection with such cessation of service shall thereupon automatically be forfeited by the Participant without further action and without payment of consideration therefor. No portion of the Phantom Units which has not become vested at the date of the Participant’s cessation of service shall thereafter become vested.
	
 

	
 
	
(d)
	
Payment. Vested Phantom Units shall be subject to the payment provisions set forth in Section 4 below.

	
 
	
(e)
	
Confidentiality. The terms of this Agreement and all documents and information provided by the Partnership, Company or any Affiliates of any of the foregoing to Participant are confidential and shall not be disclosed by Participant; provided, that Participant may disclose this Agreement to Participant’s immediate family members, accountants, attorneys and similar advisors who are bound by a duty of confidentiality and as may be required by applicable law but Participant shall be responsible for any breach of confidentiality by any such persons.

	
4.
	
Payment of Phantom Units.

	
 
	
(a)
	
Phantom Units. Unpaid, vested Phantom Units shall be paid to the Participant in the form of Units in a lump-sum as soon as reasonably practical, but not later than sixty (60) days, following the date on which such Phantom Units vest. Payments of any Phantom Units that vest in accordance herewith shall be made to the Participant (or in the event of the Participant’s death, to the Participant’s estate) in whole Units in accordance with this Section 4.

{1992824;3}2 of 6

	
 
	
(b)
	
Potential Delay. Notwithstanding anything to the contrary in this Agreement, no amounts payable under this Agreement shall be paid to the Participant prior to the expiration of the six (6)-month period following his “separation from service” (within the meaning of Treasury Regulation Section 1.409A-1(h)) (a “Separation from Service”) to the extent that the Company determines that paying such amounts prior to the expiration of such six (6)-month period would result in a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code. If the payment of any such amounts is delayed as a result of the previous sentence, then on the first business day following the end of the applicable six (6)-month period (or such earlier date upon which such amounts can be paid under Section 409A of the Code without resulting in a prohibited distribution, including as a result of the Participant’s death), such amounts shall be paid to the Participant.

	
5.
	
Tax Withholding. The Company and/or its Affiliates shall have the authority and the right to deduct or withhold, or to require the Participant to remit to the Company and/or its Affiliates, an amount sufficient to satisfy all applicable federal, state and local taxes (including the Participant’s employment tax obligations) required by law to be withheld with respect to any taxable event arising in connection with the Phantom Units. In satisfaction of the foregoing requirement, unless otherwise determined by the Committee, the Company and/or its Affiliates shall withhold Units otherwise issuable in respect of such Phantom Units having a Fair Market Value equal to the sums required to be withheld. In the event that Units that would otherwise be issued in payment of the Phantom Units are used to satisfy such withholding obligations, the number of Units which shall be so withheld shall be limited to the number of Units which have a Fair Market Value (which, in the case of a broker-assisted transaction, shall be determined by the Committee, consistent with applicable provisions of the Code) on the date of withholding equal to the aggregate amount of such liabilities based on the minimum statutory withholding rates for federal, state, local and foreign income tax and payroll tax purposes that are applicable to such supplemental taxable income.

	
6.
	
Rights as Unit Holder. Neither the Participant nor any person claiming under or through the Participant shall have any of the rights or privileges of a holder of Units in respect of any Units that may become deliverable hereunder unless and until certificates representing such Units shall have been issued or recorded in book entry form on the records of the Partnership or its transfer agents or registrars, and delivered in certificate or book entry form to the Participant or any person claiming under or through the Participant.

	
7.
	
Non-Transferability. Neither the Phantom Units nor any right of the Participant under the Phantom Units may be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Participant (or any permitted transferee) other than by will or the laws of descent and distribution and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company, the Partnership and any of their Affiliates.

	
8.
	
Distribution of Units. Unless otherwise determined by the Committee or required by any applicable law, rule or regulation, neither the Company nor the Partnership shall deliver to the Participant certificates evidencing Units issued pursuant to this Agreement and instead such Units shall be recorded in the books of the Partnership (or, as applicable, its transfer agent or equity plan administrator). All certificates for Units issued pursuant to this Agreement and all Units issued pursuant to book entry procedures hereunder shall be subject to such stop transfer orders and other restrictions as the Company may deem advisable under the Program or the rules, regulations, and other requirements of the SEC, any stock exchange upon which such Units are then listed, and any applicable federal or state laws, and the Company may cause a legend or legends to be inscribed on any such certificates or book entry to make appropriate reference to such restrictions. In addition to the terms and conditions provided herein, the Company may require that the Participant make such covenants, agreements, and representations as the Company, in its sole discretion, deems advisable in order to comply with any such laws, regulations, or requirements. No fractional Units shall be issued or delivered pursuant to the Phantom Units, and any such fractional Units or any rights thereto shall be canceled, terminated, or otherwise eliminated.
	
 

	
9.
	
Partnership Agreement. Units issued upon payment of the Phantom Units shall be subject to the terms of the Program and the Partnership Agreement. Upon the issuance of Units to the Participant, the Participant shall, automatically and without further action on his or her part, (i) be admitted to the Partnership as a Limited Partner (as 

{1992824;3}3 of 6

		
defined in the Partnership Agreement) with respect to the Units, and (ii) become bound, and be deemed to have agreed to be bound, by the terms of the Partnership Agreement.

	
10.
	
No Effect on Service. Nothing in this Agreement or in the Program shall be construed as giving the Participant the right to be retained in the employ or service of the Company or any Affiliate thereof. Furthermore, the Company and its Affiliates may at any time dismiss the Participant from employment or consulting free from any liability or any claim under the Program or this Agreement, unless otherwise expressly provided in the Program, this Agreement or any other written agreement between the Participant and the Company or an Affiliate thereof.

	
11.
	
Severability.  If any provision of this Agreement is or becomes or is deemed to be invalid, illegal, or unenforceable in any jurisdiction, such provision shall be construed or deemed amended to conform to the applicable law or, if it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of this Agreement, such provision shall be stricken as to such jurisdiction, and the remainder of this Agreement shall remain in full force and effect.

	
12.
	
Tax Consultation. None of the Board, the Committee, the Company nor the Partnership has made any warranty or representation to Participant with respect to the income tax consequences of the issuance of the Phantom Units, the Units or the transactions contemplated by this Agreement and the Participant represents that he or she is in no manner relying on such entities or their representatives for tax advice or an assessment of such tax consequences. The Participant understands that the Participant may suffer adverse tax consequences in connection with the Phantom Units granted pursuant to this Agreement. The Participant represents that the Participant has consulted with any tax consultants that the Participant deems advisable in connection with the Phantom Units.

	
13.
	
Amendments, Suspension and Termination. To the extent permitted by the Program, this Agreement may be wholly or partially amended or otherwise modified, suspended or terminated at any time or from time to time by the Board or the Committee. Except as provided in the preceding sentence, this Agreement cannot be modified, altered or amended, except by an agreement, in writing, signed by both the Partnership and the Participant.

	
14.
	
Lock-Up Agreement. The Participant shall agree, if so requested by the Company or the Partnership and any underwriter in connection with any public offering of securities of the Partnership or any Affiliate thereof, not to directly or indirectly offer, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant for the sale of or otherwise dispose of or transfer any Units held by him or her for such period, not to exceed one hundred eighty (180) days following the effective date of the relevant registration statement filed under the Securities Act of 1933, as amended (the “Securities Act”), in connection with such public offering, as such underwriter shall specify reasonably and in good faith. The Company or the Partnership may impose stop transfer instructions with respect to securities subject to the foregoing restrictions until the end of such 180-day period. Notwithstanding the foregoing, the 180-day period may be extended in the discretion of the Company for up to such number of additional days as is deemed necessary by such underwriter or the Company or Partnership to continue coverage by research analysts in accordance with FINRA Rule 2711 or any successor or other applicable rule.

	
15.
	
Conformity to Securities Laws. The Participant acknowledges that the Program and this Agreement are intended to conform to the extent necessary with all provisions of the Securities Act and the Exchange Act, any and all regulations and rules promulgated by the SEC thereunder, and all applicable state securities laws and regulations. Notwithstanding anything herein to the contrary, the Program shall be administered, and the Phantom Units are granted, only in such a manner as to conform to such laws, rules and regulations. To the extent permitted by applicable law, the Program and this Agreement shall be deemed amended to the extent necessary to conform to such laws, rules and regulations.

	
16.
	
Code Section 409A. None of the Phantom Units or any amounts paid pursuant to this Agreement are intended to constitute or provide for a deferral of compensation that is subject to Section 409A of the Code. Nevertheless, to the extent that the Committee determines that the Phantom Units may not be exempt from (or compliant with) Section 

{1992824;3}4 of 6

		
409A of the Code, the Committee may (but shall not be required to) amend this Agreement in a manner intended to comply with the requirements of Section 409A of the Code or an exemption therefrom (including amendments with retroactive effect), or take any other actions as it deems necessary or appropriate to (a) exempt the Phantom Units from Section 409A of the Code and/or preserve the intended tax treatment of the benefits provided with respect to the Phantom Units, or (b) comply with the requirements of Section 409A of the Code. To the extent applicable, this Agreement shall be interpreted in accordance with the provisions of Section 409A of the Code. Notwithstanding anything in this Agreement to the contrary, to the extent that any payment or benefit hereunder constitutes non-exempt “nonqualified deferred compensation” for purposes of Section 409A of the Code, and such payment or benefit would otherwise be payable or distributable hereunder by reason of the Participant’s cessation of Service, all references to the Participant’s cessation of Service shall be construed to mean a Separation from Service, and the Participant shall not be considered to have a cessation of Service unless such cessation constitutes a Separation from Service with respect to the Participant.

	
17.
	
Adjustments; Clawback. The Participant acknowledges that the Phantom Units are subject to modification and forfeiture in certain events as provided in this Agreement and Section 7 of the Program. The Participant further acknowledges that the Phantom Units and Units issuable hereunder, whether vested or unvested and whether or not previously issued, are subject to clawback as provided in Section 8(o) of the Program.

	
18.
	
Successors and Assigns. The Company or the Partnership may assign any of its rights under this Agreement to single or multiple assignees, and this Agreement shall inure to the benefit of the successors and assigns of the Company and the Partnership. Subject to the restrictions on transfer contained herein, this Agreement shall be binding upon the Participant and his or her heirs, executors, administrators, successors and assigns.

	
19.
	
Governing Law. The validity, construction, and effect of this Agreement and any rules and regulations relating to this Agreement shall be determined in accordance with the laws of the State of Delaware without regard to its conflicts of laws principles.

	
20.
	
Headings. Headings are given to the sections and subsections of this Agreement solely as a convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of this Agreement or any provision hereof.

[Signature page follows]

 

{1992824;3}5 of 6

The Participant’s signature below indicates the Participant’s agreement with and understanding that this award is subject to all of the terms and conditions contained in the Program and in this Agreement, and that, in the event that there are any inconsistencies between the terms of the Program and the terms of this Agreement, the terms of the Program shall control. The Participant further acknowledges that the Participant has read and understands the Program and this Agreement, which contains the specific terms and conditions of this grant of Phantom Units. The Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Committee upon any questions arising under the Program or this Agreement.

Mid-Con Energy Partners GP, LLC
a Delaware limited liability company

By:  

Name:  

Title:  

Mid-Con Energy Partners, LP
a Delaware limited partnership

By:Mid-Con Energy Partners GP, LLC
Its General Partner

By:

Name:  

Title:  

“PARTICIPANT”

Name:  

 

{1992824;3}6 of 6mcep-ex103_177.htm

Exhibit 10.3

MID-CON ENERGY PARTNERS, LP

CHANGE IN CONTROL SEVERANCE PLAN

PARTICIPATION AND RESTRICTIVE COVENANT AGREEMENT

 

This Participation and Restrictive Covenant Agreement (this “Agreement”) is entered into as of _________, 20[•] between Mid-Con Energy GP, LLC (the “Company”), and [PARTICIPANT NAME] (“Participant”).

WHEREAS, the Board of Directors of Mid-Con energy Partners, LP  has adopted the Mid-Con Energy Partners, LP Change in Control Severance Plan, effective as of August 1, 2019 (the “Plan”), to provide certain benefits to participants upon a qualifying termination of employment in connection with a “Change in Control” of the Company, as contemplated under the Plan;

WHEREAS, the Plan Administrator (as defined in the Plan) has decided to offer Participant the opportunity to participate in the Plan, subject to the terms of the Plan and this Agreement; 

WHEREAS, as a condition of eligibility to participate in the Plan, Participant must agree to be bound by the terms of this Agreement, including the restrictive covenants contained in Section 4, and Participant agrees that participation in the Plan is good and valuable consideration for being subject to the restrictive covenants contemplated in Section 4; and

WHEREAS, Participant acknowledges that Participant has carefully reviewed the Plan and this Agreement and has decided that Participant wishes to enter into this Agreement on the terms and conditions set forth herein.

NOW, THEREFORE, in consideration of the mutual covenants, promises and obligations set forth herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and Participant agree as follows:

1.Plan.  The terms of the Plan are specifically incorporated herein as a part of this Agreement, and this Agreement shall be a part of and governed by the terms of the Plan, as amended from time to time subject to the limitations on amendment and termination in Section 8(l) of the Plan.  Participant is an intended third-party beneficiary of the Plan.  

 

2.Participation Subject to Execution and Return of this Agreement.  This Agreement and Participant’s designation as a participant in the Plan shall be null and void unless Participant agrees to be bound by and executes this Agreement and returns it to the Company on or before [______, 20[•]] (the “Execution Deadline”). 

3.Definitions.  The capitalized terms used, but not defined in this Agreement, shall have the meanings set forth in the Plan.  For purposes of this Agreement and the Plan, the following terms shall have the meanings set forth below:

	
 
	
(a)
	
“CIC Severance Multiple” shall mean [[thirty-six (36)] [eighteen (18)] [twelve (12)]] months.

1

 

	
 
	
(b)
	
“Severance Period” shall mean the [[36] [18] [12]]-month period beginning on the first day following the Termination Date.

4.Restrictive Covenants.

a.Non-Competition.  Except as authorized by the Company in further of Participant’s employment duties, Participant shall not, at any time during Participant’s employment by the Company or any of its Affiliates and for [12][18][24] months after the termination thereof by either party for any or no reason, directly or indirectly (whether as a sole proprietor, owner, employer, partner, investor, shareholder, member, employee, consultant, or otherwise) engage in, or assist any other person or entity in engaging in, the business of  waterflood oil production (the “Business”), or perform services involving the Business in any executive, managerial, sales, marketing, research or other competitive capacity for any person or entity engaged in the Business, in any geographical area in which the Company is actively conducting material Business as of the Participant’s Termination Date (the “Territory”). 

b.Non-Solicitation of Employees.  Except as authorized by the Company in further of Participant’s employment duties, Participant shall not, at any time during Participant’s employment by the Company or any of its Affiliates and for [12][18][24] months after the termination thereof by either party for any or no reason, directly or indirectly (whether as a sole proprietor, owner, employer, partner, investor, shareholder, member, employee, consultant, or otherwise) solicit, induce, or encourage any employee of the Company or any of its Affiliates who is employed on or within six months of the Termination Date to terminate his or her employment with such entity in order to enter into any employment relationship with or perform services for any other person or entity.  

c.Non-Solicitation of Customers.  Except as authorized by the Company in further of Participant’s employment duties, Participant shall not, at any time during Participant’s employment by the Company or any of its Affiliates and for [12][18][24] months after the termination thereof by either party for any or no reason, directly or indirectly (whether as a sole proprietor, owner, employer, partner, investor, shareholder, member, employee, consultant, or otherwise) solicit, induce, or encourage any person or entity that, within twelve months before Participant’s Termination Date, has contracted for the Company or any of its Affiliates to provide any goods, service, information or discount (a “Customer”), to contract with Participant or with any person or entity with whom or with which Participant is or becomes associated as an owner, partner, shareholder, member, employee, consultant, independent contractor or substantial creditor (each a “Participant Associate”), to provide any similar goods, service, information or discount or affiliate or otherwise become a Customer of Participant or a Participant Associate. 

d.Confidentiality.  Participant shall hold in a fiduciary capacity for the benefit of the Company and its Affiliates all secret or confidential information, knowledge and data relating to the Company and each of its Affiliates, and their respective businesses, in each case except as provided in Section 6 below, including without limitation any data; statistics; financial information; lists; information on the terms and conditions of, and/or copies of contracts; information on identities and capabilities of entities that contract with 

2

 

the Company and/or any of its Affiliates; litigation and claim information; information on identities, compensation and capabilities of the Company’s and each of its Affiliate’s employees (other than Participant) and other service providers; policies and procedures; information about customers, actual and potential financing, merger, acquisition, securities, tax, audit, or other information; information that would be considered “insider information” under the securities laws; Intellectual Property (as defined in Section 4(e)) belonging to the Company or its Affiliate; trade secrets; and other information, which shall have been obtained by Participant during Participant’s employment with the Company or its Affiliates and which shall not be or have become publically known outside of the Company and its Affiliates other than through a violation of law, contract or other obligation (together, “Proprietary Information”).  Participant shall not, at any time during or after Participant’s employment, directly or indirectly, without the prior written consent of the Board, as may otherwise be required by law or legal process, in furtherance of Participant’s employment duties, or as otherwise provided in Section 6 below, use such Proprietary Information or communicate or divulge any such Proprietary Information to anyone (other than an authorized Affiliate of the Company or any such entity’s designee); provided, that if Participant receives actual notice that Participant is or may be required by law or legal process to communicate or divulge any such Proprietary Information, unless otherwise prohibited by law or regulation or as set forth in Section 6 below, Participant shall promptly so notify the Board to allow the Company to seek appropriate protection prior to any such disclosure.  

e.Non-Disparagement.  Except as provided in Section 6 below, Participant shall at all times refrain from all conduct, verbal or otherwise, that disparages or damages the reputation, goodwill, or standing in the community of the Company, its Affiliates, or any one of them.   

f.Irreparable Harm.  In recognition of the facts that irreparable injury will result to the Company and/or its Affiliates in the event of a breach by Participant of his obligations under Sections 4(a) through 4(f) above, that monetary damages for such breach would not be readily calculable, and that the Company and/or its Affiliates would not have an adequate remedy at law therefor, Participant acknowledges, consents and agrees that, in the event of any such breach, or the threat thereof, the Company and/or its Affiliates shall be entitled, in addition to any other legal remedies and damages available, to specific performance thereof and to temporary and permanent injunctive relief (without the necessity of posting a bond) to restrain the violation or threatened violation of such obligations by Participant.

5.Term.This Agreement shall terminate upon the earliest of (i) the date of termination of Participant’s employment by the Company if no benefits are payable under the Plan, (ii) the date the Company satisfies its obligation, if any, to make payments and provide benefits to Participant pursuant to the Plan, (iii) the date on which the Participant’s participation in the Plan is terminated in accordance with Section 2 of the Plan, and (iv) the termination of the Plan in accordance with Section 8(l) of the Plan prior to the date Participant terminates employment with the Company.  Notwithstanding the foregoing, Participant’s obligations under Section 4 shall survive the terms of the Plan and this Agreement.

3

 

6.Protected Disclosures.  

a.Notwithstanding anything in this Agreement to the contrary, nothing in this Agreement prohibits Participant from confidentially or otherwise communicating or filing a charge or complaint with, participating in an investigation by, or giving truthful testimony, statements, or other disclosures to, a governmental agency or regulatory entity (including without limitation communication directly with the U.S. Securities and Exchange Commission about a possible securities law violation), in each case without receiving prior authorization from or having to disclose such conduct to the Company, or if properly subpoenaed or otherwise legally required to do so.  This Agreement also does not prohibit Participant from receiving an award (if any) under applicable law for providing truthful information to a governmental agency or regulatory entity.

b.U.S. federal law provides that an individual shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that is made (1) in confidence to a Federal, State, or local government official (either directly or indirectly) or to an attorney, solely for the purpose of reporting or investigating a suspected violation of law; or (2) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.  Nothing in this Agreement limits or otherwise affects any such rights or creates liability for any such protected conduct.  An individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual—(A) files any document containing the trade secret under seal; and (B) does not disclose the trade secret, except pursuant to court order.

7.Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together shall constitute one and the same instrument.

8.Adequacy of Consideration.  Participant acknowledges and agrees that Participant’s participation in the Plan and the Severance Benefits to which Participant may be eligible under the Plan is good and valuable consideration for being subject to the terms of the Plan and this Agreement, including the restrictive covenants contemplated in Section 4.

9.Assignment.  This Agreement is for the benefit of and enforceable by the Company and its Affiliates, and may be assigned to any Affiliate or any person or entity which, whether by merger, purchase, or otherwise, acquires all or substantially all of the assets, stock or business of the Company or of any discrete portion thereof.  Any such assignment shall not constitute a termination of Participant’s employment for purposes of this Agreement.  Participant may not assign this Agreement.

10.Judicial Modification; Severability; Governing Law. If any provision of this Agreement is found by a court of competent jurisdiction to be unenforceable, such provision shall be deemed modified and so enforced to the fullest extent possible.  If a court of competent jurisdiction determines that any provision of this Agreement cannot be made enforceable, it shall be severed without affecting the validity or enforceability of any other provision of this Agreement 

4

 

or the Plan, and all other provisions shall remain in full force and effect.  This Agreement is governed by the law of the state in which Participant is employed, without regard to its choice of law rules.  

11.Waiver.  A waiver of any right is not enforceable unless in a signed writing, and shall not waive the same or any other right at any other time.  

12.Complete Agreement. This Agreement and the Plan constitute the complete agreement between Participant and the Company or any of its Affiliates concerning the subject matter therein and they supersede and replace in its entirety any prior written or oral understandings entered into between the Participant and the Participant or any of its Affiliates, provided, however, that subject to Section 6 above, nothing in this Agreement shall limit or release Participant from any other obligation regarding confidentiality, intellectual or other property, or post-employment competitive activities that Participant has or may have to the Company or any of its Affiliates.  

IN WITNESS WHEREOF, the parties have executed this Agreement as of the ___ day of ___________, 20[•].

 

MID-CON ENERGY GP, LLC

 

By:

Name:Title:

 

PARTICIPANT

 

 

 242680869 

 
Name: 
 

5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00301-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00301-of-00352.parquet"}]]