Document:

exv4w3

 

Exhibit 4.3

GOODRICH PETROLEUM CORPORATION

2006 LONG-TERM INCENTIVE PLAN

Grant of Restricted Phantom Stock

	 	 	 	 	 
	Grantee:
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	Grant Date:
	 	 	,  200___ 	 
	 

	 	 
	 	 

	1.	 	Grant of Restricted Phantom Stock. Goodrich Petroleum Corporation (the “Company”)
hereby grants to you ___restricted shares of Phantom Stock (“Restricted Stock”) under the
Goodrich Petroleum Corporation 2006 Long-Term Incentive Plan (the “Plan”) on the terms and
conditions set forth herein and in the Plan, which is incorporated herein by reference as a
part of this Agreement. In the event of any conflict between the terms of this Agreement and
the Plan, the Plan shall control. Capitalized terms used in this Agreement but not defined
herein shall have the meanings ascribed to such terms in the Plan, unless the context requires
otherwise. Upon vesting, you will be entitled to receive the vested amount of the Restricted
Stock in shares of Common Stock of the Company or, as determined by the Company in its sole
discretion, in cash.

	2.	 	Regular Vesting. Except as otherwise provided in Paragraph 3 below, the shares of
Restricted Stock granted hereunder shall vest on the anniversaries of the above Grant Date as
follows:

	 	 	 	 	 
	 	 	Cumulative
	Grant Date	 	Vested Percentage
	1st Anniversary
	 	 	331⁄3	%
	2nd Anniversary
	 	 	662⁄3	%
	3rd Anniversary
	 	 	100	%

Vesting with respect to a fractional share shall be rounded up to the next whole share.

	3.	 	Events Occurring Prior to Regular Vesting.

	 	(a)	 	Death or Disability. If, prior to becoming fully vested in the shares
of Restricted Stock hereby granted, you cease to be an employee of the Company as a
result of your death or a disability that entitles you to benefits under the Company’s
long-term disability plan, the shares of Restricted Stock then held by you
automatically will become fully vested upon such termination.

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	 	(b)	 	Other Terminations. If you terminate from the Company for any reason
other than as provided in paragraph 3(a), all unvested shares of Restricted Stock then
held by you automatically shall be forfeited without payment upon such termination.

	 	(c)	 	Change of Control. All outstanding shares of Restricted Stock held by
you at the time of a Change of Control automatically shall become fully vested upon the
Change of Control.

For purposes of this Agreement, your employment with a parent or Subsidiary of the Company
shall be deemed to be employment with the Company.

	4.	 	Stock Certificates. Upon vesting, the Company shall cause a stock certificate to be
issued in your name for the shares of Restricted Stock that become vested, except to the
extent the Compensation Committee, in its discretion, provides for the payment of cash equal
to the Fair Market Value of a share of Common Stock in lieu of the issuance of a share of
Common Stock.

	5.	 	Limitations Upon Transfer. All rights under this Agreement shall belong to you alone
and may not be transferred, assigned, pledged, or hypothecated by you in any way (whether by
operation of law or otherwise), other than by will or the laws of descent and distribution and
shall not be subject to execution, attachment, or similar process. Upon any attempt by you to
transfer, assign, pledge, hypothecate, or otherwise dispose of such rights contrary to the
provisions in this Agreement or the Plan, or upon the levy of any attachment or similar
process upon such rights, such rights shall immediately become null and void.

	6.	 	Restrictions. By accepting this grant, you agree that any shares of stock which you
may acquire upon the vesting and payment of this award, if any, will not be sold or otherwise
disposed of in any manner which would constitute a violation of any applicable federal or
state securities laws. The Company intends to register the shares under the Plan on Form S-8
filed with the Securities and Exchange Commission.

	7.	 	Withholding of Tax. To the extent that the grant or vesting of Restricted Stock
results in the receipt of compensation by you with respect to which the Company or an
affiliate has a tax withholding obligation pursuant to applicable law, unless other
arrangements have been made by you that are acceptable to the Company or such affiliate, you
shall deliver to the Company or the affiliate such amount of money as the Company or the
affiliate may require to meet its withholding obligations under such applicable law. No
issuance of a share of stock shall be made pursuant to this Agreement until you have paid or
made arrangements approved by the Company or the affiliate to satisfy in full the applicable
tax withholding requirements of the Company or affiliate.

	8.	 	Phantom Dividends. If during the period the shares of Restricted Stock are held by
you the Company pays a dividend on its common stock, you will be
credited with additional shares of Restricted Stock hereunder equal to the Fair Market Value of such dividends. Such
additional shares of Restricted Stock shall be subject to the same vesting

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	     	 	provisions and other provisions of this Agreement as if part of the tandem Restricted Stock
to which the phantom dividend relates.

	9.  	 	Binding Effect. This Agreement shall be binding upon and inure to the benefit of any
successor or successors of the Company and upon any person lawfully claiming under you.

	10.	 	Entire Agreement. This Agreement constitutes the entire agreement of the parties
with regard to the subject matter hereof, and contains all the covenants, promises,
representations, warranties and agreements between the parties with respect to the Restricted
Stock granted hereby. Without limiting the scope of the preceding sentence, all prior
understandings and agreements, if any, among the parties hereto relating to the subject matter
hereof are hereby null and void and of no further force and effect. Any modification of this
Agreement shall be effective only if it is in writing and signed by both you and an authorized
officer of the Company.

	11.	 	Governing Law. This grant shall be governed by, and construed in accordance with,
the laws of the State of Texas, without regard to conflicts of laws principles thereof.

Please return this Agreement signed to the Company. The enclosed copy is for your records.

	 	 	 	 
	Agreed and accepted	Goodrich Petroleum Corporation
	by Grantee
	 
	
	 
	

	 	 	 	 	 
	 	 	 
	
 	 	By:  	
 	 
	 	 	 	 
	 	 	 	Name:  	 
	 	 	 	 
	 	 	 	Title:  	 

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Exhibit 4.4

GOODRICH PETROLEUM CORPORATION

2006 LONG-TERM INCENTIVE PLAN

Director Stock Option Agreement

	 	 	 	 	 
	     Grantee:

	 	                                        
	 	 
	     Date of Grant:

	 	                                        	 	 
	     Exercise Price per Share:

	 	$                                      	 	 
	     Number of Option Shares Granted:

	 	                                        	 	 

     1. Notice of Grant. You are hereby granted an option (“Option”) pursuant to the
Goodrich Petroleum Corporation 2006 Long-Term Incentive Plan (the “Plan”) to purchase the number of
shares of Common Stock of Goodrich Petroleum Corporation (the “Company”) set forth above, subject
to the terms and conditions of the Plan and this Agreement. This Option is not an incentive stock
option within the meaning of Section 422 of the Code.

     2. Vesting and Exercise of Option. Subject to the further provisions of this
Agreement, the Option shall become vested and may be exercised in accordance with the following
schedule, by written notice to the Company at its principal executive office addressed to the
attention of its Secretary (or such other officer or employee of the Company as the Company may
designate from time to time):

	 	 	 
	Anniversary of	 	Cumulative
	Date of Grant	 	Vested Percentage
	1st
	 	331⁄3%
	2nd
	 	662⁄3%
	3rd
	 	100%

Notwithstanding the above schedule, but subject to the further provisions hereof, upon the
occurrence of the following events the Option shall vest and become exercisable as provided below:

     (a) Disability. If your membership on the Company’s Board of Directors (the
“Board”) terminates by reason of a disability, as determined by the Board, the Option shall
become fully vested and may be exercised at any time during the one-year period following
such termination by you or by your guardian or legal representative (or, if you die during
such one-year period, by your estate or the person who acquires the Option by will or the
laws of descent and distribution).

     (b) Death. If you die while a member of the Board, the Option shall become
fully vested and your estate (or the person who acquires the Option by will or the laws of

 

 

descent and distribution) may exercise the Option at any time during the one-year
period following the date of your death.

     (c) Other Terminations. If your membership on the Board is terminated for any
reason other than as provided above, the Option, to the extent vested on the date of your
termination, may be exercised, at any time during the three month period following such
termination, by you or by your guardian or legal representative (or by your estate or the
person who acquires the Option by will or the laws of descent and distribution or otherwise
by reason of the death of you if you die during such period), but in each case only as to
the vested number of Option shares, if any, that you were entitled to purchase hereunder as
of the date your membership on the Board terminates.

     (d) Change of Control. The Option shall become fully vested upon a Change of
Control.

     There is no minimum or maximum number of Option shares that must be purchased upon exercise of
the Option. Instead, the Option may be exercised, at any time and from time to time, to purchase
any number of Option shares that are then vested according to the provisions of this Agreement.

     Notwithstanding any of the foregoing, the Option shall not be exercisable in any event after
the expiration of 10 years from the above Date of Grant.

     All Option shares that are not vested on your termination from the Board shall be
automatically cancelled and forfeited without payment upon your termination.

     3. Method of Payment. Payment of the aggregate exercise price for the Shares being
purchased shall be by any of the following, or a combination thereof, at your election: (a) cash;
(b) check; (c) consideration received by the Company under a cashless broker exercise program
approved by the Company; or (d) the constructive surrender of other Shares which (i) in the case of
Shares acquired upon exercise of an option, have been owned by you for more than six months on the
date of surrender, unless waived by the Committee in its discretion, and (ii) have an aggregate
Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares
being purchased.

     4. Nontransferability of Option. Without the express written consent of the
Committee, which may be withheld for any reason in its sole discretion, this Option may not be
transferred in any manner otherwise than by will or by the laws of descent or distribution and may
be exercised during your lifetime only by you. The terms of the Plan and this Agreement shall be
binding upon your executors, administrators, heirs, successors and assigns.

     5. Entire Agreement; Governing Law. The Plan is incorporated herein by reference.
The Plan and this Agreement constitute the entire agreement of the parties with respect to the
subject matter hereof and supersede in their entirety all prior undertakings and agreements of the
Company and you with respect to the subject matter hereof, and may not be modified adversely to
your interest except by means of a writing signed by the Company and you. This Agreement is
governed by the internal substantive laws, but not the choice of law rules, of the state of Texas.

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     6. Withholding of Tax. To the extent that the exercise of the Option results in the
receipt of compensation by you with respect to which the Company has a tax withholding obligation
pursuant to applicable law, unless other arrangements have been made by you that are acceptable to
the Company, which, with the consent of the Committee, may include withholding a number of Shares
that would otherwise be delivered on exercise or vesting that have an aggregate Fair Market Value
that does not exceed the amount of taxes to be withheld, you shall deliver to the Company such
amount of money as the Company may require to meet its withholding obligations under such
applicable law. No delivery of Shares shall be made pursuant to the exercise of the Option under
this Agreement until you have paid or made arrangements approved by the Company to satisfy in full
the applicable tax withholding requirements of the Company.

     7. Amendment. Except as provided below, this Agreement may not be modified in any
respect by any verbal statement, representation or agreement or by any employee, officer, or
representative of the Company or by any written agreement unless signed by you and by an officer of
the Company who is expressly authorized by the Company to execute such document.

     8. General. You agree that this Option is granted under and governed by the terms and
conditions of the Plan and this Agreement. In the event of any conflict, the terms of the Plan
shall control. Unless otherwise defined herein, the terms defined in the Plan shall have the same
defined meanings in this Agreement.

	 	 	 	 	 
	 	GOODRICH PETROLEUM CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	GRANTEE

 

Signature

 	 
	 	 	 
	 	 	 
	 	 	 
	 

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