Document:

EX-10.1

 Exhibit 10.1 

 
  

AMENDED AND RESTATED 
 RANGE
RESOURCES CORPORATION 
 2004 DEFERRED COMPENSATION PLAN 

FOR DIRECTORS AND SELECT EMPLOYEES 
  

 

 AMENDED AND RESTATED 

RANGE RESOURCES CORPORATION 
 2004
DEFERRED COMPENSATION PLAN 
 FOR DIRECTORS AND SELECT EMPLOYEES 

TABLE OF CONTENTS 
  

									
	 	  	 	  	 	  	Page	 
			
	1.	  	PURPOSE	  	 	1	  
			
	2.	  	DEFINITIONS AND CAPITALIZED TERMS	  	 	1	  
			
	3.	  	ELIGIBILITY	  	 	4	  
			
	4.	  	DEFERRAL OF COMPENSATION	  	 	4	  
				
		  	4.1	  	Election to Defer	  	 	4	  
		  	4.2	  	Multiple Elections	  	 	5	  
		  	4.3	  	Affirmative Elections Required	  	 	5	  
		  	4.4	  	Hardship Adjustments	  	 	5	  
			
	5.	  	DEFERRED COMPENSATION ACCOUNTS	  	 	5	  
				
		  	5.1	  	Maintenance of Accounts	  	 	5	  
		  	5.2	  	Investment Elections	  	 	6	  
		  	5.3	  	Investment Earnings or Losses	  	 	6	  
		  	5.4	  	Investment of Unpaid Balances	  	 	7	  
		  	5.5	  	Company Contributions	  	 	7	  
		  	5.6	  	Employer’s General Assets	  	 	8	  
			
	6.	  	EFFECT ON EMPLOYEE BENEFITS	  	 	8	  
			
	7.	  	PAYMENT OF DEFERRED COMPENSATION ACCOUNTS	  	 	9	  
				
		  	7.1	  	Election as to Time and Form of Payment	  	 	9	  
		  	7.2	  	Hardship and Other Withdrawals	  	 	10	  
		  	7.3	  	Disability	  	 	11	  
		  	7.4	  	In-Kind Distributions	  	 	11	  
		  	7.5	  	Withholding and Other Tax Consequences	  	 	11	  
		  	7.6	  	Tax Gross-Up Payments	  	 	11	  
		  	7.7	  	Income Tax Obligations	  	 	12	  
		  	7.8	  	Section 409A Delay in Payment	  	 	12	  
		  	7.9	  	Transition Period Payment Elections	  	 	12	  
			
	8.	  	FUNDING	  	 	12	  
			
	9.	  	SUSPENSION OF PAYMENTS UPON COMPANY’S INSOLVENCY	  	 	13	  

  
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	10.    	  	NON-ALIENATION OF BENEFITS	  	 	13	  
			
	11.    	  	LIMITATION OF RIGHTS	  	 	13	  
			
	12.    	  	NOTICE UNDER WARN	  	 	13	  
			
	13.    	  	AMENDMENT OR TERMINATION OF PLAN	  	 	14	  
			
	14.    	  	ADMINISTRATIVE PROCEDURES AND DISPUTE RESOLUTION	  	 	14	  
				
		  	14.1	  	Administrative Authority	  	 	14	  
		  	14.2	  	Expenses	  	 	15	  
		  	14.3	  	Insurance	  	 	15	  
		  	14.4	  	Claims Procedure	  	 	15	  
		  	14.5	  	Appeal Procedures	  	 	15	  
		  	14.6	  	Arbitration	  	 	16	  
		  	14.7	  	Notices	  	 	17	  
		  	14.8	  	Indemnification	  	 	17	  
			
	15.	  	MISCELLANEOUS	  	 	17	  
				
		  	15.1	  	Alternative Acts and Times	  	 	17	  
		  	15.2	  	Masculine and Feminine, Singular and Plural	  	 	17	  
		  	15.3	  	Governing Law and Severability	  	 	18	  
		  	15.4	  	Facility of Payment	  	 	18	  
		  	15.5	  	Correction of Errors	  	 	18	  
		  	15.6	  	Missing Persons	  	 	19	  
		  	15.7	  	Status of Participants	  	 	19	  
		  	15.8	  	Compliance with 409A	  	 	19	  

  
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 AMENDED AND RESTATED 

RANGE RESOURCES CORPORATION 
 2004
DEFERRED COMPENSATION PLAN 
 FOR DIRECTORS AND SELECT EMPLOYEES 

Range Resources Corporation, a Delaware corporation (“Company”), hereby amends and restates the Range Resources Corporation 2004
Deferred Compensation Plan for Directors and Select Employees (“Plan”), which was established effective December 28, 2004. The Plan covers certain employees of the Employers and the non-employee directors of the Company. 

 

	1.	PURPOSE 

 The primary purpose of the Plan is to provide deferred compensation to a select
group of management and highly compensated employees of the Employers and to Directors through an unfunded “top hat” arrangement exempt from the fiduciary, funding, vesting, and plan termination insurance provisions of Title I and Title IV
of ERISA. More specifically, the Employers have adopted this Plan primarily to provide Employees with the opportunity to defer Compensation and to be credited with the Company Contributions as described and provided for herein. This Plan was
established to comply with Section 409A of the Code. Prior to its adoption of the Plan, the Company maintained the Amended and Restated Deferred Compensation Plan for Directors and Select Employees and the Great Lakes Energy Partners, LLC
Executive Nonqualified Excess Plan (together, the “Prior Plans”), which did not comply with Section 409A of the Code. Accordingly, the Prior Plans were “frozen” as of December 31, 2004 and all balances under the Prior
Plans that were not vested at December 31, 2004 were “spunoff” and transferred to this Plan as of December 31, 2004, subject to the distribution and investment elections then in effect with respect to such balances under the
Prior Plans. 
 The Plan was previously amended and restated effective as of December 31, 2008, and is hereby amended and restated to
incorporate all amendments to the Plan to date and to clarify certain provisions of the Plan. 
  

	2.	DEFINITIONS AND CAPITALIZED TERMS 

 The capitalized terms, set forth in alphabetical
order defined below, are used throughout the Plan. 
 (a) “Account” refers to the bookkeeping entries established and maintained
by the Plan Administrator for the purpose of recording (i) the amounts of Compensation deferred by a Participant and Company Contributions made by an Employer under this Plan or spunoff to this Plan from the Prior Plans, (ii) any interest,
earnings or losses with respect to those amounts, and (iii) any distributions to a Participant or Beneficiary. An Account shall also refer to any bookkeeping entry that is separately maintained on a class (vintage) year vesting basis. 

(b) “Affiliate” refers to an entity of which 50% or more of the ownership interest is owned, directly or indirectly, by the Company
and/or an affiliate(s) of the Company. 
 (c) “Beneficiary” refers to the person or entity selected to receive any portion of a
Participant’s Account that has not been distributed from the Plan at the time of the Participant’s 

  
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death. Such designation shall be on a form provided or approved by the Plan Administrator. If a Participant fails to designate a Beneficiary, or no Beneficiary designation is in effect or no
designated Beneficiary survives the Participant, payment of benefits shall be made to the following person or persons in the order given: the Participant’s (i) spouse, (ii) descendants, per stirpes, (iii) parents,
(iv) brothers and sisters, or (v) estate of the Participant. 
 (d) “Board” or “Board of Directors” refers to
the Board of Directors of the Company. 
 (e) “Cause” means (i) an act or acts of dishonesty by a Participant constituting a
felony under applicable law and/or (ii) any act resulting or intending to result, directly or indirectly, in gain to or personal enrichment of the Participant at the Company’s or an Affiliate’s expense. For purposes of the Plan, a
Participant shall be deemed to be terminated for Cause upon a determination by the Board that the Participant has engaged in conduct constituting Cause as provided above. 

(f) “Change in Control” means a “change of control event” as such term is defined in the Treasury Regulations under
Section 409A of the Code and, shall also include, for purposes of vesting in Company Contributions, a Change in Control as defined in the Range Resources Corporation Executive Change in Control Severance Benefit Plan, as amended from time to
time. 
 (g) “Code” refers to the Internal Revenue Code of 1986, as amended from time to time. 

(h) “Committee” refers to the Compensation Committee of the Board. 

(i) “Company” or “Corporation” refers to Range Resources Corporation. 

(j) “Company Contributions” refers to amounts described in Section 5.5(a) below. 

(k) “Company Equity Contributions” refers to Company Contributions made in the form of restricted stock or other equity grants to
Participants, which, at the direction of the Committee, are automatically deferred under this Plan upon grant, as described in Section 5.5(a)(i) below. 

(l) “Company Matching Contributions” refers to Company Contributions made in the form of matching contributions as described in
Section 5.5(a)(ii) below. 
 (m) “Compensation” refers, for purposes of elective deferrals by a Participant, to an
Employee’s base salary and bonuses, and to a Director’s annual cash retainer, stock compensation and meeting fees, payable by an Employer for services rendered after an Employee or Director first becomes eligible to participate in the Plan
and during the period through which such participation continues. 
 (n) “Director” refers to a non-employee member of the Board
of Directors. 
 (o) “Disabled” or “Disability” means the Participant (i) is unable to engage in any substantial
gainful activity by reason of any medically determinable physical or mental 

  
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impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, (ii) is, by reason of any medically determinable physical or
mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than three months under an accident and health
plan covering employees of the Employer or (iii) is determined to be disabled by the Committee, in its discretion. 
 (p)
“Employee” refers to any employee, within the meaning of Section 3121(d) of the Code, of an Employer who, for purposes of ERISA, is highly compensated or a member of a select group of management and is designated by the Committee to
participate in this Plan. The Committee shall determine whether an employee is highly compensated. Where the Committee considers appropriate in applying the provisions of this Plan, the term Employee shall include only persons who are Participants
under the Plan. 
 (q) “Employer” refers to the Company and any Affiliate that the Committee has designated as a participating
company. Where appropriate in applying the provisions of the Plan, the term Employer shall mean only the Company. 
 (r) “ERISA”
refers to the Employee Retirement Income Security Act of 1974, as amended from time to time. 
 (s) “Hardship” refers to a
Participant’s severe financial hardship resulting from (i) an accident or illness of the Participant or his or her spouse, beneficiary or dependent, (ii) loss of the Participant’s property as a result of a casualty or
(iii) any other similar extraordinary, unforeseeable circumstances attributable to forces beyond the Participant’s control, as provided in Treasury Regulation Section 1.409A-3(i)(3). In general, but without limitation, the Plan
Administrator shall approve a Hardship withdrawal from a Participant’s Account if the withdrawal does not exceed the amount needed to pay for the Hardship. 

(t) “Participant” refers to (i) an eligible Employee or Director who elects to defer under the Plan part or all of his or her
Compensation payable during the current Plan Year or receives a nonelective Company Contribution during the current Plan Year and (ii) a current or former eligible Employee or Director who continues to have an Account under the Plan, as the
context requires. 
 (u) “Plan Administrator” refers to the person, persons or entity designated by the Company to administer the
Plan. If no such person or entity is serving as Plan Administrator, the Company shall be Plan Administrator. 
 (v) “Plan Year”
refers to the calendar year. 
 (w) “Qualified Plan” refers to the Employer’s tax qualified individual account cash or
deferred compensation plan subject to the limits imposed by Code Sections 401(a)(4), 401(k), 401(m), 402(g) and 415. 
 (x) “Specified
Employee” means a “specified employee” as defined in Section 409A(a)(2)(B) of the Code and the regulations and other guidance thereunder. 

  
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 (y) “Termination of Employment” refers to a Director ceasing to serve as a member of
the Board or an Employee’s (i) separation from service with the Employers and all Affiliates, (ii) refusal or failure to return to work within three working days after the date requested by the Employer or Affiliate, or
(iii) failure to return to work at the conclusion of a leave of absence; provided, however, in all instances such Termination of Employment must also qualify as a “separation from service” for purposes of Section 409A and the
regulations thereunder. 
 (z) “Trust” refers to a rabbi trust intended to satisfy the requirements of Revenue Procedures 92-64
and 92-65 of which a financial institution selected by the Company serves as trustee. The term “Trustee” shall include such financial institution and any successor Trustee under the Trust instrument. 

 

	3.	ELIGIBILITY 

 The Committee may, from time to time, designate by name, class, pay grade
or otherwise those Employees who are eligible to participate in the Plan for one or more Plan Years and the date upon which each such Employee’s participation may commence. Directors automatically shall be eligible to participate. All
designated Employees and Directors shall be notified by the Plan Administrator of their eligibility to participate. An Employee’s or Director’s eligibility to participate in the Plan does not confer upon the Employee or Director any right
to any award, bonus or other remuneration of any kind. 
  

	4.	DEFERRAL OF COMPENSATION 

  

	 	4.1	Election to Defer 

 (a) Annual Deferral Elections. Any Director or eligible
Employee may, during an annual election period determined by the Plan Administrator, elect to defer a percentage or dollar amount of one or more payments of Compensation for the next succeeding Plan Year, on such terms as the Plan Administrator may
permit, by completing an Election of Deferral form and filing it with the Plan Administrator prior to the first day of such succeeding Plan Year (or any such earlier date as the Plan Administrator may prescribe). 

(b) Newly Eligible Plan Participants. An individual who first becomes a Director or an eligible Employee during a Plan Year may, by
completing an Election of Deferral form and filing it with the Plan Administrator within 30 days of the date such individual first becomes a Director or an eligible Employee, elect to defer a percentage or dollar amount of one or more payments of
Compensation for the Plan Year in which such individual first becomes a Director or an eligible Employee, on such terms as the Plan Administrator may permit, which are payable to such individual after the date upon which the individual files the
Election of Deferral form. A newly eligible Employee shall not be permitted to elect to defer any portion of a bonus that the Employee may receive during the first or second year of eligibility. 

(c) General. Election of Deferral forms may provide a separate deferral election (e.g., percentage or dollar amount) for bonuses and for base
salary. An election to defer a percentage or dollar amount of Compensation for any Plan Year shall apply only to that Plan Year and only to Compensation for services rendered during that Plan Year, and after the effective date of the
election for that Plan Year. A Participant’s Compensation shall be reduced 

  
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in accordance with the Participant’s election hereunder and the amount deferred hereunder may, to the extent determined by the Plan Administrator, be paid by the Employer to the Trust and
credited to the Participant’s Account. 
  

	 	4.2	Multiple Elections 

 An election to defer Compensation shall be effective on the date an
eligible Employee or Director delivers a completed Election of Deferral form to the Plan Administrator; provided, however, that, if the eligible Employee or Director delivers another properly completed Election of Deferral form to the Plan
Administrator prior to the close of the deferral election period described in Section 4.1, the deferral election on the form bearing the latest date shall control. After the last day of the election period, the controlling election made prior
to the close of the period shall be irrevocable. 
  

	 	4.3	Affirmative Elections Required 

 In order to electively defer any portion of Compensation
earned in any calendar year, an eligible Employee or Director must submit at least one completed Election of Deferral form to the Plan Administrator before the start of that calendar year. If an Employee or Director fails to make such a submission,
the Employee or Director will be deemed to have chosen not to defer Compensation to the Plan for that Plan Year. 
  

	 	4.4	Hardship Adjustments 

 After an annual election has taken effect for any Plan Year, a
Participant may not increase or decrease the percentage or amount of Compensation to be deferred during that Plan Year, except that a Participant has the option to cease all deferrals under the Plan during the Plan Year if such cessation would
relieve the Participant of one or more Hardships without any withdrawals under this Plan. 
  

	5.	DEFERRED COMPENSATION ACCOUNTS 

  

	 	5.1	Maintenance of Accounts 

 The Plan Administrator shall maintain one or more Accounts with
respect to any Compensation deferred by a Participant under Article 4 above and any Company Contributions made pursuant to Section 5.5 below. If the Compensation deferred or Company Contribution is subject to federal or state employment taxes
(e.g., taxes under the Federal Insurance Contributions Act or Federal Unemployment Tax Act), said taxes shall be withheld and deducted from the Participant’s Compensation or Account or as otherwise directed by the Plan Administrator. A
Participant shall be (i) fully vested at all times in amounts deferred under Article 4 above, as adjusted for any earnings, losses, interest accruals, administrative expenses or distributions as described below, and (ii) vested in Company
Contributions as provided in Section 5.5, adjusted for any earnings, losses, interest accruals, administrative expenses or distributions. Accounts for deferrals made for Plan Years prior to 2005 shall be maintained on a class (vintage) year
basis and for deferrals for Plan Years after 2004 on a class year or other basis as the Plan Administrator may prescribe from time to time. 

  
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	 	5.2	Investment Elections 

 In accordance with rules, procedures and options established by
the Plan Administrator, a Participant shall have the right to direct the investment of his or her Account. Although the Company shall have the obligation to follow the Participant’s investment directions, the Company, in its sole discretion,
may satisfy its obligation from time to time in one or both of the following ways. First, the Company may invest assets allocable to the Participant’s Accounts in the specific investments, in the specific amounts and for the specific periods
directed by the Participant; and the Company must credit or charge the Participant’s Accounts with the earnings, gains or losses resulting from such investments. Second, the Company may invest assets allocable to the Participant’s Accounts
in any manner, in any amount and for any period of time which the Company in its sole discretion may select; but the Company must credit or charge the Participant’s Accounts with the same earnings, gains or losses that the Participant would
have incurred if the Company had invested the assets allocable to the Participant’s Accounts in the specific investments, in the specific amounts and for the specific periods directed by the Participant. A Participant may change his or her
investment directions in accordance with procedures established by the Plan Administrator. If the Participant fails to provide any investment directions at a time when the Participant has an interest in the Company’s Qualified Plan, the Plan
Administrator may follow the then current investment directions for the Participant’s interest in the Company’s Qualified Plan. If this Plan is determined to be subject to the fiduciary provisions of Part 4 of Title I of ERISA, this Plan
shall be treated as a Plan described in Section 404(c) of ERISA and Title 29 of the Code of Federal Regulations Section 2550.404c-1, in which Plan fiduciaries may be relieved of liability for any losses which are the direct and necessary
result of investment instructions given by a Participant or Beneficiary. 
  

	 	5.3	Investment Earnings or Losses 

 Any amounts credited to the Account of a Participant may
increase or decrease as a result of the Company’s investment of such amounts during the Plan Year, as described in Section 5.2 above. A ratable share of Plan investment earnings or losses under this Section 5.3 shall be credited to
the Account of a Participant, as determined in good faith by the Plan Administrator. At the sole discretion of the Plan Administrator, for any Plan Year, the Plan Administrator may allocate to the Participant’s Account either (i) the full
amount of the Participant’s share of Plan investment earnings or losses or (ii) the full amount of such share reduced for any federal, state or local income or employment tax consequences attributable to such earnings or losses and which
are required to be paid currently. If the full amount of such investment earnings or losses are allocated to a Participant’s Account, any federal, state or local income or employment tax consequences attributable to such earnings or losses
under this Section 5.3 shall be borne by or inure to the benefit of the Company. The Participant and his or her Beneficiary understand and agree that they assume all risk in connection with any decrease in the value of the Compensation deferred
under the Plan and invested in accordance with these Sections 5.2 and 5.3. 

  
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	 	5.4	Investment of Unpaid Balances 

 The unpaid balance of all Accounts payable under the Plan
shall continue to be credited with the investment earnings or losses described in Sections 5.2 and 5.3 through the date of distribution or such earlier date as determined by the Plan Administrator to be administratively necessary or appropriate to
effectuate the distribution. 
  

	 	5.5	Company Contributions 

  

	 	(a)	Company Contributions 

 (i) Apart from elective Compensation deferrals
made by the Participant, the Company may make discretionary Company Contributions (subject to such vesting and any other terms specified by the Committee) for any Participant who is an eligible Employee under this Plan. Such discretionary Company
Contributions may be in the form of Company Equity Contributions. Prior to the beginning of the Plan Year with respect to which such Company Contribution is made, a Participant shall designate when such deferred Company Contribution shall be
distributable to the Participant (with respect to an Employee who first becomes a Participant as a result of such Company Contribution, such Employee must make a distribution election no later than 30 days after the time of such contribution), but
such designated time shall be after the vesting period applicable to such Company Contribution (and with respect to a Company Contribution, the vesting period may not end until a date that is 12 months after the Participant’s election). 

(ii) Such Company Contributions may also include Company Matching Contributions, at such rates and with respect to such
Participant deferrals as determined by the Committee, in its discretion, each year subject to any vesting provisions as set out in Section 5.5(c) or any such other terms specified by the Committee. 

 

	 	(b)	Adjustments to Company Contributions 

 Once credited to a Participant’s Account
under this Plan, the amounts described in this Section 5.5 shall accrue the interest or investment return described in Section 5.2, 5.3, and 5.4 above, and shall be paid in accord with Article 7 below. 

 

	 	(c)	Vesting in Company Matching Contributions 

 Unless provided otherwise by the Committee
with respect to a Company Matching Contribution, a Participant shall vest in Company Matching Contributions allocated to his or her Account on a class year basis, subject to the following vesting schedule: 

(1) 33-1/3% at the end of the Plan Year for which the Company Contributions are made; 

  
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 (2) An additional 33-1/3% at the end of the first Plan Year following the Plan
Year for which the Company Contributions are made; and 
 (3) The remaining 33-1/3% at the end of the second Plan Year
following the Plan Year for which the Company Contributions are made. 
  

	 	(d)	Vesting in Company Equity Contributions 

 Unless provided otherwise by the Committee
with respect to a Company Equity Contribution, a Participant shall vest in Company Equity Contributions allocated to his or her Account in the following manner: 

(i) 30% on the date one year from the date of grant; 

(ii) An additional 30% on the date two years form the date of the grant; and 

(iii) The remaining 40% on the date three years from the date of grant. 

 

	 	(e)	Accelerated Vesting of Company Contributions Upon Certain Events. 

 Notwithstanding any
other provision of this Plan, a Participant shall become 100% vested in his/her Company Contributions, including Company Matching Contributions and Company Equity Contributions, if, prior to his or her Termination of Employment, the Participant
attains age 65, dies, becomes Disabled, or a Change in Control occurs. Unless otherwise determined to be vested by the Committee, any portion of a Participant’s Account that has not vested on the date of a Participant’s Termination of
Employment automatically shall be forfeited upon such termination. Such forfeitures shall be retained by the Company and used for Plan administrative expenses or used to reduce future Company Contributions under the Plan. 

 

	 	5.6	Employer’s General Assets 

 All Compensation deferred under the Plan and all amounts
credited to a Participant’s Account under the Plan are the general assets of the Employer, and remain subject to the claims of the Employer’s general unsecured creditors, notwithstanding that such amounts are held in an Account for such
Participant under a Trust. By electing to participate in the Plan, a Participant agrees, on behalf of the Participant and his or her Beneficiary, that (i) title to any amounts deferred under the Plan or credited to the Participant’s
Account remains with the Employer and (ii) neither the Participant nor his or her Beneficiary has any property interests whatsoever in said amounts, except as unsecured general creditors of the Employer. 

 

	6.	EFFECT ON EMPLOYEE BENEFITS 

 Amounts deferred under this Plan or distributed pursuant to
the terms of this Plan are not taken into account in the calculation of a Participant’s benefits under any employee pension or welfare benefit program or under any other compensation practice maintained by the Employer, except to the extent
provided in such program or practice. 

  
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	7.	PAYMENT OF DEFERRED COMPENSATION ACCOUNTS 

  

	 	7.1	Election as to Time and Form of Payment 

 Contemporaneously with the deferral elections
made for a Plan Year under Section 4.1, Participants may make distribution elections for the deferrals made for such Plan Year for each of the following distribution triggering events: 

(a) An in-service distribution to be made or commenced on a date specified by the Participant during the Participant’s employment or
service as a Director with the Company; 
 (b) Termination of Employment; and 

(c) Death. 
 For each such
distribution triggering event, Participants may elect whether payment will be made in: 
 (a) A single lump-sum payment; or 

(b) Annual installments over a period elected by the Participant of up to 10 years, with the amount of each installment to equal the balance
of his or her Account immediately prior to payment of the installment divided by the sum of 1 plus the number of installments remaining. With respect to all deferrals and Company Contributions made for Plan Years beginning on and after
January 1, 2015, a Participant’s right to a series of installments shall be treated as the entitlement to a single payment. With respect to all deferrals and Company Contributions made for Plan Years beginning prior to January 1,
2015, a Participant’s right to a series of installments shall be treated as a right to receive a series of separate payments under Treasury Regulations §1.409A-2(b)(2)(iii). 

Only one distribution election may be made for each distribution event. 

A Participant’s vested benefit for a Plan Year will be paid (or commence to be paid) upon the first triggering event to occur in
accordance with the Participant’s distribution election made for such Plan Year. If a Participant fails to make an affirmative distribution election for Termination of Employment or death, the Participant will be deemed to have made a lump sum
distribution election for such triggering event. In order to effect an in-service distribution, however, the Participant must make an affirmative distribution election designating the date of the in-service distribution and the form of the
distribution (i.e., lump sum or annual installments). 
 Notwithstanding the foregoing, or any other provision of this Plan, in the event
that an annual installment distribution commences pursuant to a Participant’s distribution election for a triggering event, and, before all of the annual installment payments have been made, another triggering event (other than an in-service
distribution) occurs for which the Participant has elected a lump sum distribution, the remaining balance of the Participant’s annual installments will be paid in a single lump sum payment. Such lump sum payment will be made

  
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as soon as reasonably practical following the occurrence of the intervening triggering event and, in any case by the end of the year in which the intervening triggering event occurs (or, if
later, within 2 1⁄2 months after the occurrence of the intervening triggering event). For purposes of this provision, if a Participant has failed to make a
distribution election for the intervening triggering event, he/she will be deemed to have elected a lump sum distribution for the intervening triggering event. By way of example, if a Participant begins to receive annual installment payments
pursuant to an in-service distribution election and, before all of the annual installments have been paid, the Participant’s Termination of Employment or death occurs and the Participant had elected a lump sum distribution (or had failed to
make a distribution election) for Termination of Employment or death, as applicable, the remaining balance of the Participant’s annual installments will be paid to the Participant (or the Participant’s Beneficiary in the case of the
Participant’s death) in a single lump sum payment at the time set forth above. 
 A Participant may change the date and form of payment
for existing Account balances (or designated portions thereof) by filing with the Plan Administrator, at least one year before payments are otherwise scheduled to commence, a new form specifying a new date of commencement and/or form of benefit
payment, provided (i) the payment with respect to such election change is deferred for a period of not less than five years from the date such payment otherwise would have been paid under the then existing election, (ii) the change must
not take effect until at least 12 months after it is made and (iii) such change shall become irrevocable on the date that is 12 months prior to the date the payment otherwise would have been made but for the change. 

Notwithstanding anything herein to the contrary, payments shall be subject to Section 7.8. 

 

	 	7.2	Hardship and Other Withdrawals 

  

	 	(a)	Withdrawals to Meet Hardships 

 If at any time following the first anniversary of
initial participation in the Plan, a Participant incurs a Hardship, such person may, by written request to the Plan Administrator, request that all or any specified part of his or her vested Account (but not less than $1,000 per withdrawal nor more
than the amount necessary to meet such Hardship) be paid to him or her, and such distribution, if approved by the Plan Administrator, shall be made in a lump 30 days following such approval. The Plan Administrator shall have exclusive authority to
determine whether to make a Hardship distribution but shall not unreasonably deny a request for such a distribution. The Plan Administrator’s decision shall be final and binding on all parties. Any Hardship withdrawals from an Account shall
reduce the amount available for subsequent distributions from the Account. 
  

	 	(b)	Other Withdrawals 

 Prior to or after Termination of Employment, a Participant may not
withdraw any funds from his or her Account, except the Plan may accelerate the time or schedule of payment to (i) an individual other than the Participant to the extent necessary to comply with a domestic relations order (as defined in Code
Section 414(p)(1)(B)) or (ii) to make full distribution of the amount required to be included in income if the Plan fails to meet the requirements of Section 409A. 

  
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	 	7.3	Disability 

 Upon the Termination of Employment of a Participant due to his or her
Disability, the Plan Administrator shall distribute or begin payment of his or her Account under the Plan, in accordance with the Participant’s distribution election under Section 7.1, subject to Section 7.9. 

 

	 	7.4	In-Kind Distributions 

 All distributions made under the Plan shall be made in cash or
in-kind, as elected by the Participant. If a cash distribution is made, the Plan Administrator shall value the property with respect to which the cash distribution is made at its fair market value as reasonably determined by the Plan Administrator.
Without limiting the foregoing, publicly traded securities may be valued by the Plan Administrator at the closing price of the security (on the national securities exchange on which it trades) on the date immediately preceding the date of the
distribution or at its net liquidation value. 
  

	 	7.5	Withholding and Other Tax Consequences 

 From any payments made under this Plan, the
Employer shall withhold any taxes or other amounts which federal, state or local law requires the Employer to deduct, withhold and deposit. The Employer’s determination of the type and amount of taxes to be withheld from any payment shall be
final and binding on all persons having or claiming to have an interest in this Plan or in any Account under this Plan. 
  

	 	7.6	Tax Gross-Up Payments 

 (a) If, as a result of (a) a Participant’s Termination
of Employment on or within 24 months following a Change in Control, (b) the Employer’s amendment of the Plan in connection with a Change in Control or (c) the Employer’s termination of the Plan pursuant to Section 13 in
connection with a Change in Control, all or a portion of a Participant’s Account is paid prior to the date the Participant had otherwise elected for such payment under the Plan, the Employer shall pay an additional payment (a “Tax Gross-up
Payment”) to the Participant (or his Beneficiary) to compensate such Participant (or his Beneficiary) for all taxes, penalties and interest imposed with respect to the “parachute” portion of the payment. The Tax Gross-up Payment shall
be determined by multiplying the amount of the “parachute” portion of the payment by the fraction 1/1-MR, where MR is the sum of (1) the Participant’s (or the Beneficiary’s) maximum income tax rate under section 1(a) of the
Code as of the date of payment and (2) the rates of any other taxes (including taxes under Section 4999 of the Code) imposed on the Participant (or the Beneficiary) with respect to the accelerated portion of the payment. Such Tax Gross-up
Payment shall be made no later than the due date for such parachute tax amount. 
 (b) If a Participant incurs the additional tax pursuant
to Section 409A as a result of the administration of the Plan, the Company shall pay such Participant a Tax Gross-up Payment in such amount as necessary to make the Participant “whole” for such 409A tax and the Tax Gross-up Payment.
Such payment shall be made no later than the due date for such 409A tax. 

  
 11 

	 	7.7	Income Tax Obligations 

 If a Participant is assessed federal, state or local taxes by
reason of, and computed on the basis of, his or her undistributed deferred Compensation or undistributed interest or earnings accrued on his or her Account, the Participant shall notify the Plan Administrator in writing of such assessment and there
shall be distributed from the Participant’s Account an amount equal to such tax assessment, together with any interest due and penalties assessed thereupon within 30 days following such notice; provided however, that if the Plan Administrator
determines that such assessment is improper, it may request that the Participant contest the assessment, at the expense of the Company (which expense shall include all costs of appeal and litigation, including legal and accounting fees, and any
additional interest assessed on the deficiency from and after the date of the Participant’s notice to the Plan Administrator); and during the period such contest is pending, the sums otherwise distributable pursuant to this Section 7.8
shall not be distributed. 
  

	 	7.8	Section 409A Delay in Payment 

 Notwithstanding anything in the Plan to the
contrary, with respect to a Participant who is a “Specified Employee” for purposes of Section 409A of the Code, any payments to be made to such Participant hereunder as a result of such Participant’s Termination of Employment
shall be deferred until the seventh month after such Participant’s Termination of Employment or, if earlier, such Participant’s death, and such deferred amount shall be paid in a lump sum on such delayed date together with earnings or
losses accrued during such delayed period in accordance with Section 5.4 above. 
  

	 	7.9	Transition Period Payment Elections 

 Pursuant to IRS Notice 2007-86, a Participant may
be given an election by the Committee, in its discretion, on or before December 31, 2008 to change such Participant’s payment election with respect to all or part of one or more of his Accounts to one of the payment elections permitted
under Section 7.1 of this Plan and/or may change the timing of the payment previously elected; provided, however, this special transition period election shall apply only to those balances that would not otherwise be payable to the Participant
in 2008 and the special election may not cause any amount to be paid to the Participant in 2008 that would not otherwise be payable to him or her in 2008. 
  

	8.	FUNDING 

 All amounts deferred under this Plan shall remain or become general assets of
the Employer. All payments under this Plan shall come from the general assets of the Employer. The amounts credited to an Employee’s Account are not, and shall not be, secured by any specific assets of the Employer. This Plan shall not be
construed to require the Employer to fund any of the benefits provided hereunder or to establish a trust or purchase an insurance policy or other product for such purpose. The Employer may make such arrangements as it desires to provide for the
payment of benefits. Neither an Employee, a Participant nor his or her 

  
 12 

 
Beneficiary or estate shall have any rights against the Employer with respect to any portion of any Account under the Plan except as general unsecured creditors. No Employee, Participant,
Beneficiary or estate has an interest in any Account under this Plan until the Employee, Participant, Beneficiary or estate actually receives payment from the Account. 
  

	9.	SUSPENSION OF PAYMENTS UPON COMPANY’S INSOLVENCY 

 At all times during the
continuance of any Trust established in connection with this Plan, if the Plan Administrator determines that the Employer’s financial condition is likely to result in the suspension of benefit payments from the Trust, the Plan Administrator
shall advise Participants and Beneficiaries that payments from the Trust shall be suspended during the Employer’s insolvency. If the Trustee subsequently resumes such payments, the Plan Administrator shall advise Participants and Beneficiaries
that, if Trust assets are sufficient, the first payment following such discontinuance shall include the aggregate amount of all payments due to Participants and Beneficiaries under the terms of the Plan for the period of such discontinuance, less
the aggregate amount of any payments made directly by the Employer during any period of discontinuance. No insufficiency of Trust assets shall relieve the Employer of its obligation to make payments when due under the Plan. 

 

	10.	NON-ALIENATION OF BENEFITS 

 The interest of any Employee, Participant or Beneficiary
shall not be subject to sale, assignment, transfer, conveyance, hypothecation, encumbrance, garnishment, attachment, anticipation, pledge, alienation or other disposition prior to actual distribution from the Plan; and any attempt to effect such
disposition shall be void. No portion of any Account shall, prior to receipt thereof, be subject to the debts, contracts, liabilities, or engagements of any Employee, Participant or Beneficiary. Nothing in the preceding sentence shall prohibit the
Employer from recovering from an Employee, Participant or Beneficiary any payments to which he or she was not entitled under the Plan. 
  

	11.	LIMITATION OF RIGHTS 

 Nothing in this Plan document or in any related instrument shall
cause this Plan to be treated as a contract of employment within the meaning of the Federal Arbitration Act, 9 U.S.C. 1 et seq., or otherwise, or shall be construed as evidence of any agreement or understanding, express or implied, that the Employer
(a) will employ any person in any particular position or level of Compensation, (b) will offer any person initial or continued participation or awards in any commission, bonus or other compensation program, or (c) will continue any
person’s employment with the Employer. 
  

	12.	NOTICE UNDER WARN 

 Any amounts paid (i) to any Employee under the Worker Adjustment
and Retraining Notification Act of 1988 (“WARN”) or under any other laws regarding termination of employment, or (ii) to any third party for the benefit of said Employee or for the benefit of his or her dependents shall not be offset
or reduced by any amounts paid or determined to be payable by the Employer to said Employee or to his or her dependents under this Plan. 

  
 13 

	13.	AMENDMENT OR TERMINATION OF PLAN 

 (a) The Company may amend, modify or suspend the Plan
in any manner that does not (i) reduce any Account balances that have accrued under this Plan, (ii) constitute a forfeiture of any amounts vested under this Plan, or (iii) except as permitted by Treasury Regulation
§ 1.409A-3(j)(ix)(A), accelerate the time and form of a payment under the Plan. 
 (b) Notwithstanding the foregoing, the Company
may terminate the Plan within 30 days preceding or 12 months following a change in control event (as defined in Section 409A) provided that all plans and other arrangements that are treated as a single plan with this Plan for purposes of
Section 409A are terminated and liquidated with respect to each Employee that experienced the change of control event and all amounts deferred under such terminated plans and arrangements are paid to the affected Employees within 12 months of
the date the Company takes all necessary action to terminate such plans and programs. 
 (c) In addition, the Company may terminate the Plan
at any time, provided that (i) all other programs that would be aggregated with this Plan, if the Employee under this Plan also had deferrals under such other programs, are terminated and liquidated, (ii) no payments are made within 12
months of such termination except payments that would be made if the Plan were not terminated, (iii) all payments are made within 24 months of the date all action to irrevocably terminate and liquidate the Plan are taken, (iv) the
termination does not occur proximate to a downturn in the financial health of the Company, and (v) the Company does not adopt a new plan that would be aggregated with any terminated plan if the same Employee participated in both within three
years following the date the Company takes all action to irrevocably terminate the Plan. 
 (d) In modifying, suspending or terminating the
Plan, or in taking any other action with respect to the implementation, operation, maintenance or administration of the Plan, the Committee may act by a resolution of the Committee. 

 

	14.	ADMINISTRATIVE PROCEDURES AND DISPUTE RESOLUTION 

  

	 	14.1	Administrative Authority 

 The Plan Administrator shall have discretionary authority to
perform all functions necessary or appropriate to the operation of the Plan, including without limitation authority to (a) construe and interpret the provisions of the Plan document and any related instrument and determine any question arising
under the Plan document or related instrument, or in connection with the administration or operation thereof; (b) determine in its sole discretion all facts and relevant considerations affecting the eligibility of any Employee or Director to be
or become a Participant; (c) decide eligibility for, and the amount of, benefits for any Participant or Beneficiary; (d) authorize and direct all disbursements under the Plan; and (e) employ and engage such persons, counsel and agents
and to obtain such administrative, clerical, medical, legal, audit and actuarial services as it may deem necessary in carrying out the provisions of the Plan. The Company shall be the “administrator” as defined in Section 3(16)(A) of
ERISA for purposes of the reporting and disclosure requirements of ERISA and the Code, to the extent applicable. 

  
 14 

	 	14.2	Expenses 

 All reasonable expenses that are necessary to operate and administer the Plan
shall be paid directly by the Employers. Such costs shall include fees or expenses arising from the retention of any attorneys, accountants, actuaries, consultants or recordkeepers required by the Plan Administrator to discharge its duties under the
Plan. Nothing herein shall require the Employers to pay or reimburse any person for any cost, liability, loss, fee or expense incurred by such person in any dispute with the Employers; nor may any person reimburse himself, herself or itself from any
Plan contributions or from the principal or income of investment or funding vehicle for the Plan for any such cost, liability, loss, fee or expense. 
  

	 	14.3	Insurance 

 The Employers may, but need not, obtain liability insurance to protect its
directors, officers, employees or representatives against loss in the discharge of their responsibility in the operation of the Plan. 
  

	 	14.4	Claims Procedure 

 (a) A claim for benefits shall be considered filed only when actually
received by the Plan Administrator. 
 (b) Any time a claim for benefits is wholly or partially denied, the Participant or Beneficiary
(hereinafter “Claimant”) shall be given written notice of such denial within 30 days after the claim is filed, unless special circumstances require an extension of time for processing the claim. If there is an extension, the Claimant shall
be notified of the extension and the reason for the extension within the initial 30-day period. The extension shall expire within 60 days after the claim is filed. Such notice will indicate the reason for denial, the pertinent provisions of the Plan
on which the denial is based, an explanation of the claims appeal procedure set forth herein, and a description of any additional material or information necessary to perfect the claim and an explanation of why such material or information is
necessary. 
  

	 	14.5	Appeal Procedures 

 (a) Any person who has had a claim for benefits denied by the Plan
Administrator, or is otherwise adversely affected by the action or inaction of the Plan Administrator, shall have the right to request review by the Plan Administrator. Such request must be in writing, and must be received by the Plan Administrator
within 60 days after such person receives notice of the Plan Administrator’s action. If written request for review is not made within such 60-day period, the Claimant shall forfeit his or her right to review. The Claimant or a duly authorized
representative of the Claimant may review all pertinent documents and submit issues and comments in writing. 
 (b) The Plan Administrator
shall then review the claim. The Plan Administrator may issue a written decision reaffirming, modifying or setting aside its former action within 30 days after receipt of the written request for review, or 60 days if special circumstances require an
extension. The Claimant shall be notified in writing of any such extension within 30 days following the request for review. An original or copy of the decision 

  
 15 

 
shall be furnished to the Claimant. The decision shall set forth the reasons and pertinent plan provisions or relevant laws on which the decision rests. The decision shall be final and binding
upon the Claimant and the Plan Administrator and all other persons having or claiming to have an interest in the Plan or in any Account established under the Plan. 
  

	 	14.6	Arbitration 

 (a) Any Participant’s or Beneficiary’s claim remaining unresolved
after exhaustion of the procedures in Section 14.4 and 14.5 (and to the extent permitted by law any dispute concerning any breach or claimed breach of duty regarding the Plan) shall be settled solely by binding arbitration at the
Employer’s principal place of business at the time of the arbitration, in accordance with the Employment Claims Rules of the American Arbitration Association. Judgment on any award rendered by the arbitrator may be entered in any court having
jurisdiction thereof. Each party to any dispute regarding the Plan shall pay the fees and costs of presenting his, her or its case in arbitration. All other costs of arbitration, including the costs of any transcript of the proceedings,
administrative fees, and the arbitrator’s fees shall be borne equally by the parties. 
 (b) Except as otherwise specifically provided
in this Plan, the provisions of this Section 14.6 shall be absolutely exclusive for any and all purposes and fully applicable to each and every dispute regarding the Plan including any claim which, if pursued through any state or federal court
or administrative proceeding, would arise at law, in equity or pursuant to statutory, regulatory or common law rules, regardless of whether such claim would arise in contract, tort or under any other legal or equitable theory or basis. The
arbitrator who hears or decides any claim under the Plan shall have jurisdiction and authority to award only Plan benefits and prejudgment interest; and apart from such benefits and interest, the arbitrator shall not have any authority or
jurisdiction to make any award of any kind including, without limitation, compensatory damages, punitive damages, foreseeable or unforeseeable economic damages, damages for pain and suffering or emotional distress, adverse tax consequences or any
other kind or form of damages. The remedy, if any, awarded by such arbitrator shall be the sole and exclusive remedy for each and every claim that is subject to arbitration pursuant to this Section 15.6. Any limitations on the relief that can
be awarded by the arbitrator are in no way intended (i) to create rights or claims that can be asserted outside arbitration or (ii) in any other way to reduce the exclusivity of arbitration as the sole dispute resolution mechanism with
respect to this Plan. 
 (c) The Plan and the Company will be the necessary parties to any action or proceeding involving the Plan. No
person employed by the Company, no Participant or Beneficiary or any other person having or claiming to have an interest in the Plan will be entitled to any notice or process, unless such person is a named party to the action or proceeding. In any
arbitration proceeding all relevant statutes of limitation shall apply. Any final judgment or decision that may be entered in any such action or proceeding will be binding and conclusive on all persons having or claiming to have any interest in the
Plan. 

  
 16 

	 	14.7	Notices 

 Any notice from the Plan Administrator to an Employee, Participant or
Beneficiary regarding this Plan may be addressed to the last known residence of said person as indicated in the records of the Company. Any notice to, or any service of process upon, the Company or the Plan Administrator with respect to this Plan
may addressed as follows: 
 Range Resources Corporation 

100 Throckmorton St., Suite 1200 

Fort Worth, TX 76102 
 Attn:
General Counsel 
  

	 	14.8	Indemnification 

 To the extent permitted by law, the Employers shall, and hereby do,
indemnify and hold harmless any director, officer or employee of the Employers who is or may be deemed to be responsible for the operation of the Plan, from and against any and all losses, claims, damages or liabilities (including attorneys’
fees and amounts paid, with the approval of the Board, in settlement of any claim) arising out of or resulting from a duty, act, omission or decision with respect to the Plan, so long as such duty, act, omission or decision does not involve willful
misconduct on the part of such director, officer or employee. Any individual so indemnified shall, within 10 days after receipt of notice of any action, suit or proceeding, notify the Company and offer in writing to the Company the opportunity, at
the Company’s expense, to handle and defend such action, suit or proceeding, and the Company shall have the right, but not the obligation, to conduct the defense in any such action, suit or proceeding. An individual’s failure to give the
Company such notice and opportunity shall relieve the Company of any liability to said individual under this Section 14.8. The Company may satisfy its obligations under this provision (in whole or in part) by the purchase of insurance. Any
payment by an insurance carrier to or on behalf of such individual shall, to the extent of such payment, discharge any obligation of the Company to the individual under this indemnification. 

 

	15.	MISCELLANEOUS 

  

	 	15.1	Alternative Acts and Times 

 If it becomes impossible or burdensome for the Employers or
the Plan Administrator to perform a specific act at a specific time required by this Plan, the Employers or Plan Administrator may perform such alternative act which most nearly carries out the intent and purpose of this Plan and may perform such
required or alternative act at a time as close as administratively feasible to the time specified in this Plan for such performance. Nothing in the preceding sentence shall allow the Employers or Plan Administrator to accelerate or defer any
payments to Participants under this Plan, except as otherwise expressly permitted herein. 
  

	 	15.2	Masculine and Feminine, Singular and Plural 

 Whenever used herein, pronouns shall
include both genders, and the singular shall include the plural, and the plural shall include the singular, whenever the context shall plainly so require. 

  
 17 

	 	15.3	Governing Law and Severability 

 This Plan shall be construed in accordance with the laws
of the State of Texas (exclusive of its rules regarding conflicts of law) to the extent that such laws are not preempted by ERISA or other federal laws. If any provision of this Plan shall be held illegal or invalid for any reason, such
determination shall not affect the remaining provisions of this Plan that shall be construed as if said illegal or invalid provision had never been included. 
  

	 	15.4	Facility of Payment 

 If the Plan Administrator, in its sole discretion, determines that
any Employee, Participant or Beneficiary by reason of infirmity, minority or other disability, is physically, mentally or legally incapable of giving a valid receipt for any payment due him or her or is incapable of handling his or her own affairs
and if the Plan Administrator is not aware of any legal representative appointed on his or her behalf, then the Plan Administrator, in its sole discretion, may direct (a) payment to or for the benefit of the Employee, Participant or
Beneficiary; (b) payment to any person or institution maintaining custody of the Employee, Participant or Beneficiary; or (c) payment to any other person selected by the Plan Administrator to receive, manage and disburse such payment for
the benefit of the Employee, Participant or Beneficiary. The receipt by any such person of any such payment shall be a complete acquittance therefor; and any such payment, to the extent thereof, shall discharge the liability of the Employer, the
Plan Administrator, and the Plan for any amounts owed to the Employee, Participant or Beneficiary hereunder. In the event of any controversy or uncertainty regarding who should receive or who the Plan Administrator should select to receive any
payment under this Plan, the Plan Administrator may seek instruction from a court of proper jurisdiction or may place the payment (or entire Account) into such court with final distribution to be determined by such court. 

 

	 	15.5	Correction of Errors 

 Any crediting of Compensation or interest accruals to the Account
of any Employee, Participant or Beneficiary under a mistake of fact or law shall be returned to the Employer. If an Employee, Participant or Beneficiary in an application for a benefit or in response to any request by the Employer or the Plan
Administrator for information, makes any erroneous statement, omits any material fact, or fails to correct any information previously furnished incorrectly to the Employer or the Plan Administrator, or if the Plan Administrator makes an error in
determining the amount payable to an Employee, Participant or Beneficiary, the Employer or the Plan Administrator may correct its error and adjust any payment on the basis of correct facts. The amount of any overpayment or underpayment may be
deducted from or added to the next succeeding payments, as directed by the Plan Administrator. The Plan Administrator and the Employer reserve the right to maintain any action, suit or proceeding to recover any amounts improperly or incorrectly paid
to any person under the Plan or in settlement of a claim or satisfaction of a judgment involving the Plan. 

  
 18 

	 	15.6	Missing Persons 

 In the event a distribution of part or all of an Account is required to
be made from the Plan to an Employee, Participant or Beneficiary, and such person cannot be located, the relevant portion of the Account shall be forfeited. If the affected Employee, Participant or Beneficiary later contacts the Employer, his or her
forfeited portion of the Account shall be reinstated (without adjustment for any interim investment earnings or losses) and distributed as soon as administratively feasible. Prior to forfeiting any Account, the Employer shall attempt to contact the
Employee, Participant or Beneficiary by return receipt mail (or other carrier) at his or her last known address according to the Employer’s records, and, where practical, by such other methods as may be determined by the Plan Administrator to
be reasonable under the circumstances. 
  

	 	15.7	Status of Participants 

 In accordance with Revenue Procedure 92-65 Section 3.01(d),
this Plan hereby provides: 
 (a) Employees and Participants under this Plan shall have the status of general unsecured creditors of the
Employer; 
 (b) This Plan constitutes a mere promise by the Employer to make benefit payments in the future; 

(c) Any Trust to which this Plan refers shall conform to the terms of the model trust described in Revenue Procedure 92-64 and shall not
violate any provision of Code Section 409A; and 
 (d) It is the intention of the parties that the arrangements under this Plan shall
be unfunded for tax purposes and for purposes of Title I of ERISA. 
  

	 	15.8	Compliance with 409A 

 This Plan is intended to comply in form with Section 409A of
the Code. Any provision of Section 409A that is required to be in the Plan is hereby incorporated by reference and if any provision herein is in conflict with Section 409A, the terms of Section 409A shall govern. 

  
 19 

 IN WITNESS WHEREOF, the Company has executed this Amended and Restated Range Resources
Corporation 2004 Deferred Compensation Plan for Directors and Select Employees on December 11, 2015. 
  

			
	RANGE RESOURCES CORPORATION
		
	By:	 	 /s/   Roger S. Manny

	Name:	 	Roger S. Manny
	Title:	 	Executive Vice President – Chief Financial Officer

  
 20Exhibit

Exhibit 10.12

EMPLOYMENT AGREEMENT

THIS EMPLOYMENT AGREEMENT (this “Agreement”), dated as of October 15, 2015 (the “Effective Date”), is entered into by and between ENDOLOGIX, Inc., a Delaware corporation (the “Company”), and Mr. Vaseem Mahboob (the “Executive”).
     RECITALS
WHEREAS, the Company desires to employ Executive. 
AGREEMENT
NOW, THEREFORE, in consideration of the premises and mutual covenants and agreements set forth herein, the Company and Executive, intending to be legally bound, hereby agree as follows:
		
	1.
	Employment; Term. The Company agrees to continue to employ Executive, and Executive agrees to be employed by the Company, upon the terms and conditions set forth herein.  This Agreement shall be for an initial term that continues in effect through the third anniversary of the Effective Date, which shall be extended automatically for one or more additional terms of one (1) year each, as of each anniversary of the Effective Date (such initial term or additional term referred to herein as the “Term”).  The Agreement may be terminated by either party for any reason or no reason by providing the other party with at least thirty (30) days’ prior written notice.

		
	2.
	Definitions. For purposes of this Agreement, the following terms shall have the following meanings:

		
	2.1
	“Board” shall mean the Board of Directors of the Company.

		
	2.2
	“Cause” shall mean any of the following: (i) any act of fraud by Executive in connection with Executive’s responsibilities to the Company that is materially injurious to the Company; (ii) Executive’s conviction of a felony; (iii) a willful act by Executive that constitutes gross misconduct and is materially injurious to the Company; or (iv) Executive’s willful and material breach of a material obligation or material duty under this Agreement or the Company’s policies, which breach in the case of (iii) or (iv) is not cured within thirty (30) days after written notice thereof is received by Executive. Executive shall be afforded an opportunity to explain and defend such actions before the Board.  

		
	2.3
	“Change in Control” includes each of the following events with respect to the Company:

		
	(a)
	The acquisition, directly or indirectly, in one transaction or a series of related transactions, by any person or group (within the meaning of Section 13(d)(3) of the Exchange Act) of the beneficial ownership of securities of the Company possessing more than fifty percent (50%) of the total combined voting power of all outstanding securities of the Company; 

		
	(b)
	The consummation by the Company (whether directly involving the Company or indirectly involving the Company through one or more intermediaries) of (x) a merger, consolidation, reorganization, or business combination or (y) the acquisition of assets or stock of another entity, in each case, other than a transaction which results in the Company’s voting securities outstanding immediately before the transaction continuing to represent (either by remaining outstanding or by being converted into voting 

 OC\1608076.7

Exhibit 10.12

securities of the Company or the person that, as a result of the transaction, controls, directly or indirectly, the Company or owns, directly or indirectly, all or substantially all of the Company’s assets or otherwise succeeds to the business of the Company (the Company or such person, the “Successor Entity”)) directly or indirectly, at least 50% of the combined voting power of the Successor Entity’s outstanding voting securities immediately after the transaction;
		
	(c)
	The sale, transfer or other disposition (in one transaction or a series of related transactions) of all or substantially all of the assets of the Company, except for a transaction in which the holders of the outstanding voting securities of the Company immediately prior to such transaction(s) receive as a distribution with respect to securities of the Company, in the aggregate, securities possessing more than fifty percent (50%) of the total combined voting power of all outstanding voting securities of the acquiring entity immediately after such transaction(s); or 

		
	(d)
	The approval by the stockholders of a plan or proposal for the liquidation or dissolution of the Company;

provided, that for purposes of this definition, a transaction or event described in paragraph (a), (b), (c) or (d) shall constitute a “Change in Control” only if such transaction or event occurs after the Effective Date and constitutes a “change in control event,” as defined in Treasury Regulation Section 1.409A-3(i)(5), with respect to the Executive.
		
	2.4
	“Code” means the Internal Revenue Code of 1986, as amended.

		
	2.5
	“Disability” means the inability of Executive to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or last for a continuous period of not less than six (6) months, as determined by a competent physician selected by the Board and reasonably agreed to by Executive following such six-month period. 

		
	2.6
	“Good Reason” shall mean the occurrence of any of the following events or conditions without Executive’s written consent:

		
	(a)
	a material reduction in Executive’s authority, duties or responsibilities; 

		
	(b)
	a material diminution in the authority, duties, or responsibilities of the supervisor to whom Executive is required to report;

		
	(c)
	a material diminution in Executive’s Base Salary (as defined herein); 

		
	(d)
	a material change in the geographic location at which Executive must perform Executive’s duties, except for reasonably required travel by the Company; or

		
	(e)
	any other action or inaction that constitutes a material breach by the Company of its obligations to Executive under this Agreement, including, without limitation, as specifically set forth herein.

Executive must provide written notice to the Company of the occurrence of any of the foregoing events or conditions without Executive’s written consent within ninety (90) days 

Exhibit 10.12

following the occurrence of such event. The Company shall have a period of thirty (30) days to cure such event or condition (if applicable) after receipt of written notice of such event from Executive. Any voluntary termination of Executive’s employment for Good Reason following such cure period must occur no later than the date that is two (2) years following the initial occurrence of one of the foregoing events or conditions without Executive’s written consent.
		
	2.7
	“Involuntary Termination” means Executive’s Separation from Service by reason of a (i) termination of Executive’s employment by the Company other than for Cause, death or Disability or (ii) Executive’s resignation for Good Reason.

		
	2.8
	“Separation from Service,” with respect to Executive, means Executive’s “separation from service,” as defined in Treasury Regulation Section 1.409A-1(h).

		
	2.9
	“Specified Employee” means a “specified employee,” as defined in Treasury Regulation Section 1.409A-1(i).  

		
	3.
	Duties.

		
	3.1
	Position. Executive shall be employed as Chief Financial Officer, initially reporting to The Chairman & CEO, and shall have the duties and responsibilities customarily associated with such position and as may be reasonably assigned from time to time. Executive shall perform faithfully and diligently all functions associated with Executive’s position and all duties assigned to Executive.

		
	3.2
	Exclusive Services. Executive shall devote such time as is reasonably necessary for Executive to fulfill Executive’s duties. This shall not preclude Executive from (a) devoting time to personal and family endeavors or investments, (b) serving on community and civic boards, (c) participating in industry or trade associations, or (d) serving on a board of a public or private company that does not directly compete with the Company; provided, that (x) such activities do not materially interfere with Executive’s duties to the Company, and (y) the Chief Executive Officer shall approve Executive’s service on any board of directors.  

		
	3.3
	Policies and Procedures. Executive agrees to comply with the Company’s policies and procedures as such may be modified from time to time.

		
	4.
	Compensation and Benefits. The Company shall pay or provide, as the case may be, to Executive the compensation and other benefits and rights set forth in this Section 4.

		
	4.1
	Base Salary. The Company shall pay to Executive an annual base salary of $350,000 per year (the “Base Salary”), payable in accordance with the Company’s usual payroll practices (and in any event no less frequently than monthly). Executive’s Base Salary shall be subject to an annual review by the Board following the Effective Date.  In the event of an adjustment to the Base Salary, the term “Base Salary” shall refer to the adjusted amount.

		
	4.2
	Bonus. Executive shall be eligible to participate in such cash incentive compensation plan or program as may be approved by the Board (or committee thereof) from time to time for senior executives of the Company.  Executive’s target bonus award under such plan(s) initially shall be fifty percent (50%) of Executive’s Base Salary but shall be adjusted annually in the sole and absolute discretion of the Board (or Compensation Committee thereof) (the 

Exhibit 10.12

“Target Bonus”).  Any bonus amounts payable by the Company pursuant to this Section 4.2 shall be paid to Executive in accordance with the terms and conditions of the applicable cash incentive compensation plan or program.
		
	4.3
	Benefits. Executive shall be entitled to participate in all customary and usual benefits available to senior executive officers under the Company’s benefit plans and arrangements, including, without limitation, health, dental, vision and life insurance, premiums for which shall be paid by the Company and Executive, and any other employee benefit plan or arrangement made available in the future by the Company to its senior executives, subject to and on a basis consistent with the terms, conditions and overall administration of such plans and arrangements. The Company shall have the right to amend or delete any such benefit plan or arrangement made available by the Company to its senior executives and not otherwise specifically provided for herein.

		
	4.4
	Expenses; Travel. The Company shall reimburse Executive for all reasonable out-of-pocket business and travel expenses incurred in connection with the performance of Executive’s duties or professional activities on behalf of the Company in accordance with the Company’s reimbursement policies.  

		
	4.5
	Vacation. Executive shall be entitled to such periods of paid vacation each calendar year as provided from time to time under the Company’s vacation policy and consistent with vacation as afforded to the Company’s senior officers and commensurate with Executive’s position with the Company. 

		
	5.
	Acceleration of Equity Awards in the Event of a Change in Control.  Upon a Change in Control, solely as a result of the Change in Control and without regard to Executive’s termination of employment (if any), all outstanding unvested equity awards held by Executive shall become fully vested and, if applicable, exercisable as to all shares of the Company’s common stock covered thereby, in each case as of the date of the Change in Control.  In the event the Company’s equity incentive plan(s), the award agreements evidencing Executive’s outstanding equity awards, the definitive agreement effecting the Change in Control or any action by the Board or committee thereof provide for more favorable treatment to the Executive, Executive shall be entitled to the more favorable treatment. This provision shall apply notwithstanding anything to the contrary in any other written agreement between Executive and the Company (including any equity award agreement), which shall be deemed superseded to the extent necessary to give effect to this provision.

		
	6.
	Termination of Employment and Severance. Executive shall be entitled to receive benefits upon termination of Executive’s employment by the Company other than for Cause, death or disability or by Executive for Good Reason as set forth in this Section 6.

		
	6.1
	Involuntary Termination Prior to a Change in Control. In the event of Executive’s Involuntary Termination prior to a Change in Control, Executive shall be entitled to receive the benefits provided in this Section 6.1, subject to Executive’s compliance with Section 6.5:

		
	(a)
	The Company shall pay to Executive any fully earned but unpaid Base Salary, earned and accrued but unpaid bonus amounts for any calendar year prior to the calendar year in which Executive’s termination of employment occurs, unused and accrued vacation and unreimbursed business expenses through the date of termination at the rate then in effect, plus all other earned or accrued amounts to which Executive is entitled under any compensation plan or practice of the Company at the time of termination (the 

Exhibit 10.12

“Accrued Obligations”) as soon as practicable following the date of Executive’s Involuntary Termination.
		
	(b)
	Executive shall be entitled to receive a cash severance payment in an amount equal to six months of Executive’s Base Salary, payable in a lump sum cash payment on the first business day of the calendar month occurring after the sixtieth (60th) day following the date of Executive’s Separation from Service; provided, however, that if Executive is a Specified Employee of the date of Executive’s Separation from Service, such payment shall be made in accordance with Section 10.2 hereof.  

		
	(c)
	Executive shall be entitled to receive a cash payment equal to the annual bonus for the year in which Executive’s Separation from Service occurs (as determined by the Company in its discretion based on estimated performance for such year as of the date of Executive’s Separation from Service), prorated for the number of calendar days worked in such calendar year, which shall be paid in a lump sum on the first business day of the calendar month occurring after the sixtieth (60th) day following the date of Executive’s Separation from Service.

		
	(d)
	Executive shall be entitled to receive continuation of group health insurance benefits for a period of six months, with the Company to continue to pay the same portion of the monthly premium for Executive and Executive’s eligible dependents as the Company paid immediately prior to Executive’s Involuntary Termination, provided, that Executive elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), for Executive and Executive’s eligible dependents who were covered under the Company’s health plans as of the date of Executive’s Involuntary Termination. 

		
	(e)
	Executive shall be entitled to receive reasonable outplacement services, on an in-kind basis, from a firm selected by the Company, suitable to Executive’s position and directly related to Executive’s Involuntary Termination, for a period of twelve (12) months following the date of the Involuntary Termination, in an aggregate amount of cost to the Company not to exceed $10,000.  Notwithstanding the foregoing, Executive shall cease to receive outplacement services on the date Executive accepts employment with a subsequent employer.  

		
	(f)
	Outstanding equity awards granted to Executive under the Company’s equity incentive plans on or prior to the Effective Date, to the extent unvested and unexercised (if applicable), shall receive no additional vesting following the date of the Executive’s Involuntary Termination. 

		
	6.2
	Involuntary Termination Upon or Following Change in Control. In the event of Executive’s Involuntary Termination upon or within twenty-four (24) months following a Change in Control, Executive shall be entitled to receive, in lieu of any severance benefits to which Executive may otherwise be entitled under Section 6.1 hereof, the benefits provided in this Section 6.2, subject to Executive’s compliance with Section 6.5: 

		
	(a)
	The Company shall pay to Executive the Accrued Obligations as soon as practicable following the date of Executive’s Involuntary Termination;

Exhibit 10.12

		
	(b)
	Executive shall be entitled to receive a cash severance payment in an amount equal to 1.5 times  Executive’s Base Salary (i.e., 18 months of salary) plus Target Bonus, payable in a lump sum cash payment on the first business day of the calendar month occurring after the sixtieth (60th) day following the date of Executive’s Separation from Service; provided, however, that if Executive is a Specified Employee of the date of Executive’s Separation from Service, such payment shall be made in accordance with Section 10.2 hereof.    

		
	(c)
	Executive shall be entitled to receive a cash payment equal to the Target Bonus for the year in which Executive’s Separation from Service occurs, which shall be paid in a lump sum on the first business day of the calendar month occurring after the sixtieth (60th) day following the date of Executive’s Separation from Service.

		
	(d)
	Executive shall be entitled to receive continuation of group health insurance benefits for a period of eighteen (18) months, with the Company to continue to pay the same portion of the monthly premium for Executive and Executive’s eligible dependents as the Company paid immediately prior to Executive’s Involuntary Termination, provided, that Executive elects continuation coverage pursuant to COBRA for Executive and Executive’s eligible dependents who were covered under the Company’s health plans as of the date of Executive’s Involuntary Termination. 

		
	(e)
	Executive shall be entitled to receive reasonable outplacement services, on an in-kind basis, from a firm selected by the Company, suitable to Executive’s position and directly related to Executive’s Involuntary Termination, for a period of twelve (12) months following the date of the Involuntary Termination, in an aggregate amount of cost to the Company not to exceed $10,000.  Notwithstanding the foregoing, Executive shall cease to receive outplacement services on the date Executive accepts employment with a subsequent employer.  

		
	(f)
	All outstanding equity awards granted under the Company’s equity incentive plans held by Executive, to the extent unvested and unexercised, shall become fully vested and, if applicable, exercisable, in each case as of the date of Executive’s Involuntary Termination.  This provision shall apply notwithstanding anything to the contrary in any other written agreement between Executive and the Company (including any equity award agreement), which shall be deemed superseded to the extent necessary to give effect to this provision.

		
	6.3
	Termination of Employment due to Executive’s Death or Disability.  If Executive’s employment is terminated by the Company due to Executive’s death or Disability, the Company shall pay to Executive (or Executive’s estate or legal representative, if applicable) the Accrued Obligations as soon as practicable following the date of Executive’s termination of employment.

		
	6.4
	Other Terminations. If Executive’s employment is terminated at any time by the Company other than without Cause or due to Executive’s death or Disability (including a non-renewal of this Agreement) or by Executive without Good Reason, the Company shall not have any other or further obligations to Executive under this Agreement (including any financial obligations) except that Executive shall be entitled to receive the Accrued Obligations and 

Exhibit 10.12

any continuation of benefits required by COBRA or applicable law (for which Executive shall be solely responsible). 
		
	6.5
	Release. As a condition to Executive’s receipt of any post-termination benefits pursuant to Section 6.1 or Section 6.2 hereof, Executive shall execute and deliver within fifty (50) days following the date of Executive’s Involuntary Termination, and not revoke within any revocation period required by law, a general release of all claims in favor of the Company (the “Release”) in the form attached hereto as Exhibit A. 

		
	6.6
	Exclusive Remedy. Except as otherwise expressly required by law (e.g., COBRA) or as specifically provided herein, all of Executive’s rights to salary, severance, benefits, bonuses and other amounts hereunder (if any) accruing at the termination of Executive’s employment shall cease upon such termination. 

		
	6.7
	No Mitigation. Except as otherwise set forth in Section 8, Executive shall not be required to mitigate the amount of any payment provided for in this Section 6 by seeking other employment or otherwise, nor shall the amount of any payment or benefit provided for in this Section 6 be reduced by any compensation earned by Executive as the result of employment by another employer or self-employment or by retirement benefits. 

		
	6.8
	Payments in Lieu of COBRA Continuation.  Notwithstanding Section 6.1(d) and Section 6.2(d), with regard to such COBRA continuation coverage, if the Company determines in its sole discretion that it cannot provide such coverage without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company shall in lieu thereof provide to Executive a taxable monthly payment in an amount equal to the monthly COBRA premium (which amount shall be based on the premiums for the first month of COBRA coverage).  

		
	7.
	Limitation on Payments. 

		
	7.1
	Notwithstanding any other provisions of this Agreement, in the event that any payment or benefit received or to be received by Executive (including any payment or benefit received in connection with a Change in Control or the termination of Executive’s employment, whether pursuant to the terms of this Agreement or any other plan, arrangement or agreement) (all such payments and benefits, including the payments and benefits under Section 5 and Section 6 of this Agreement, being hereinafter referred to as the “Total Payments”) would be subject (in whole or part), to the excise tax imposed under Section 4999 of the Code (the “Excise Tax”), then, after taking into account any reduction in the Total Payments provided by reason of Section 280G of the Code in such other plan, arrangement or agreement, the cash severance payments shall first be reduced, and the non-cash severance payments shall thereafter be reduced, to the extent necessary so that no portion of the Total Payments is subject to the Excise Tax but only if (i) the net amount of such Total Payments, as so reduced (and after subtracting the net amount of federal, state and local income taxes on such reduced Total Payments and after taking into account the phase out of itemized deductions and personal exemptions attributable to such reduced Total Payments) is greater than or equal to (ii) the net amount of such Total Payments without such reduction (but after subtracting the net amount of federal, state and local income taxes on such Total Payments and the amount of Excise Tax to which Executive would be subject in respect of such unreduced Total Payments and after taking into account the phase out of itemized deductions and 

Exhibit 10.12

personal exemptions attributable to such unreduced Total Payments).  The Total Payments shall be reduced by the Company in its reasonable discretion in the following order: (A) reduction of any cash severance payments otherwise payable to Executive that are exempt from Section 409A of the Code, (B) reduction of any other cash payments or benefits otherwise payable to Executive that are exempt from Section 409A of the Code, but excluding any payment attributable to the acceleration of vesting or payment with respect to any stock option or other equity award with respect to the Company’s common stock that are exempt from Section 409A of the Code, (C) reduction of any other payments or benefits otherwise payable to Executive on a pro rata basis or such other manner that complies with Section 409A of the Code, but excluding any payment attributable to the acceleration of vesting and payment with respect to any stock option or other equity award with respect to the Company's common stock that are exempt from Section 409A of the Code, and (D) reduction of any payments attributable to the acceleration of vesting or payment with respect to any stock option or other equity award with respect to the Company’s common stock that are exempt from Section 409A of the Code.
		
	7.2
	For purposes of determining whether and the extent to which the Total Payments will be subject to the Excise Tax, (i) no portion of the Total Payments the receipt or enjoyment of which Executive shall have waived at such time and in such manner as not to constitute a “payment” within the meaning of Section 280G(b) of the Code shall be taken into account, (ii) no portion of the Total Payments shall be taken into account which, in the written opinion of an accounting firm or compensation consulting firm with nationally recognized standing and substantial expertise and experience on Section 280G matters (“Independent Advisors”) selected by the Company, does not constitute a “parachute payment” within the meaning of Section 280G(b)(2) of the Code (including by reason of Section 280G(b)(4)(A) of the Code) and, in calculating the Excise Tax, no portion of such Total Payments shall be taken into account which, in the opinion of Independent Advisors, constitutes reasonable compensation for services actually rendered, within the meaning of Section 280G(b)(4)(B) of the Code, in excess of the Base Amount (as defined in Section 280G(b)(3) of the Code) allocable to such reasonable compensation, and (iii) the value of any non-cash benefit or any deferred payment or benefit included in the Total Payments shall be determined by the Independent Advisors in accordance with the principles of Sections 280G(d)(3) and (4) of the Code. 

		
	8.
	Certain Restrictive Covenants.

		
	8.1
	Confidential Information. During the Term and thereafter, Executive shall continue to be bound by the restrictions in the Proprietary Information and Inventions Agreement with the Company dated October 15, 2015 (the “Proprietary Rights Agreement”). 

		
	8.2
	Cooperation. During the Term and thereafter, Executive agrees to cooperate with the Company and its agents, accountants and attorneys concerning any matter with which Executive was involved during Executive’s employment. Such cooperation shall include, but not be limited to, providing information to, meeting with and reviewing documents provided by the Company and its agents, accountants and attorneys during normal business hours or other mutually agreeable hours upon reasonable notice and being available for depositions and hearings, if necessary and upon reasonable notice. If Executive’s cooperation is required after the termination of Executive’s employment, the Company shall reimburse Executive for any reasonable out of pocket expenses incurred in performing Executive’s obligations hereunder.

Exhibit 10.12

		
	8.3
	Return of the Company’s Property. Upon the termination of Executive’s employment in any manner, as a condition to Executive’s receipt of any post-termination benefits described in Section 6.1 or 6.2 of this Agreement, Executive shall immediately surrender to the Company all lists, books and records of, or in connection with, the Company’s business, and all other property belonging to the Company. 

		
	8.4
	Non-Disparage. As an additional inducement for the Company to enter into this Agreement, Executive agrees that Executive shall refrain throughout the Term and for a period of one (1) year following the date of Executive’s termination of employment from publishing any oral or written statements about Company, any of its affiliates or any of the Company’s or such affiliates’ directors, officers, employees, consultants, agents or representatives that (a) are slanderous, libelous or defamatory, (b) disclose private information about or confidential information of the Company, any of its affiliates or any of Company’s or any such affiliates’ business affairs, directors, officers, employees, consultants, agents or representatives, or (c) place the Company, any of its affiliates, or any of the Company’s or any such affiliates’ directors, officers, employees, consultants, agents or representatives in a false light before the public. A violation or threatened violation of this prohibition may be enjoined by the courts. The rights afforded the Company and its affiliates under this provision are in addition to any and all rights and remedies otherwise afforded by law. 

		
	8.5
	Non-Solicitation.  As an additional inducement for the Company to enter into this Agreement, Executive agrees that for a period of one (1) year following the date of Executive’s termination of employment, Executive shall not, directly or indirectly knowingly induce any person in the employment of the Company to (A) terminate such employment, or (B) accept employment, or enter into any consulting arrangement, with anyone other than the Company.

		
	8.6
	Rights and Remedies Upon Breach. If Executive breaches or threatens to commit a breach of any of the provisions of this Section 8 (the “Restrictive Covenants”), the Company shall have any rights and remedies available to the Company under law or in equity.

		
	8.7
	Severability of Covenants/Blue Penciling. If any court determines that any of the Restrictive Covenants, or any part thereof, is invalid or unenforceable, the remainder of the Restrictive Covenants shall not thereby be affected and shall be given full effect, without regard to the invalid portions. If any court determines that any of the Restrictive Covenants, or any part thereof, are unenforceable because of the duration of such provision or the area covered thereby, such court shall have the power to reduce the duration or area of such provision and, in its reduced form, such provision shall then be enforceable and shall be enforced.  Executive hereby waives any and all right to attack the validity of the Restrictive Covenants on the grounds of the breadth of their geographic scope or the length of their term.

		
	8.8
	Enforceability in Jurisdictions. The Company and Executive intend to and do hereby confer jurisdiction to enforce the Restrictive Covenants upon the courts of any jurisdiction within the geographical scope of such covenants. If the courts of any one or more of such jurisdictions hold the Restrictive Covenants wholly unenforceable by reason of the breadth of such scope or otherwise, it is the intention of the Company and Executive that such determination not bar or in any way affect the right of the Company to the relief provided above in the courts of any other jurisdiction within the geographical scope of such covenants, as to breaches of such covenants in such other respective jurisdictions, such covenants as 

Exhibit 10.12

they relate to each jurisdiction being, for this purpose, severable into diverse and independent covenants.
		
	9.
	Indemnification. Executive shall be entitled to indemnification as an officer of the Company as provided in the Indemnification Agreement entered into with the Company dated August 18, 2014 (the “Indemnification Agreement”), along with the applicable provisions of the Company’s director and officer liability insurance (if any), bylaws and Delaware law, without regard to any future changes in Executive’s assignment or position. 

		
	10.
	Section 409A of the Code.

		
	10.1
	Compliance with Section 409A.  To the maximum extent permissible by applicable law, the payments and benefits payable under this Agreement shall be interpreted to be exempt from Section 409A of the Code, including, without limitation, the exemptions pursuant to Treasury Regulation Sections 1.409A-1(b)(4) and 1.409A-1(b)(9).  To the extent the payments and benefits under this Agreement are subject to Section 409A of the Code, this Agreement shall be interpreted, construed and administered in a manner that satisfies the requirements of Sections 409A(a)(2), (3) and (4) of the Code and the Treasury Regulations thereunder.  If the Company and Executive determine that any compensation, benefits or other payments that are payable under this Agreement and intended to comply with Sections 409A(a)(2), (3) and (4) of the Code do not comply with Section 409A of the Code, the Company and Executive agree to amend this Agreement, or take such other actions as the Company and Executive deem reasonably necessary or appropriate, to comply with the requirements of Section 409A of the Code, while preserving the economic agreement of the parties.  In the case of any compensation, benefits or other payments that are payable under this Agreement and intended to comply with Sections 409A(a)(2), (3) and (4) of the Code, if any provision of the Agreement would cause such compensation, benefits or other payments to fail to so comply, such provision shall not be effective and shall be null and void with respect to such compensation, benefits or other payments, and such provision shall otherwise remain in full force and effect.  The Executive’s right to receive installment payments of any severance payments or benefits under this Agreement shall be treated as a right to receive a series of separate payments, and accordingly, each installment payment shall at all times be considered a separate and distinct payment.  To the extent any reimbursement of expenses under this Agreement is subject to Section 409A of the Code, the reimbursements shall be paid in accordance with Treasury Regulation Section 1.409A-3(i)(1)(iv) and be paid on or before the last day of Executive’s taxable year following the taxable year in which Executive incurred the expenses.

		
	10.2
	Delayed Distribution under Section 409A.  If Executive is a Specified Employee on the date of Executive’s Separation from Service, any payments made under Section 6.1 or Section 6.2 and any other payments or benefits (or portion thereof) under this Agreement that are subject to Section 409A of the Code and payable upon Executive’s Separation from Service shall be delayed in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code, and such payments or benefits shall be paid or distributed to Executive during the thirty (30) day period commencing on the earlier of (a) the expiration of the six-month period measured from the date of Executive’s Separation from Service or (b) the date of Executive’s death.  Upon the expiration of the applicable six-month period under Section 409A(a)(2)(B)(i) of the Code, all payments deferred pursuant to this Section 10.2 shall be paid in a lump sum payment to Executive (or Executive’s estate, in the event of Executive’s 

Exhibit 10.12

death).  Any remaining payments due under the Agreement shall be paid as otherwise provided herein.

		
	11.
	General Provisions.

		
	11.1
	Successors and Assigns. The rights of the Company under this Agreement may, without the consent of Executive, be assigned by the Company, in its sole and unfettered discretion, to any person, firm, corporation or other business entity that at any time, whether by purchase, merger or otherwise, directly or indirectly, acquires all or substantially all of the assets or business of the Company. The Company will require any successor (whether direct or indirect, by purchase, merger or otherwise) to all or substantially all of the business or assets of the Company expressly to assume and to agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place; provided, however, that no such assumption shall relieve the Company of its obligations hereunder. As used in this Agreement, the “Company” shall mean the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid that assumes and agrees to perform this Agreement by operation of law or otherwise. Executive shall not be entitled to assign any of Executive’s rights or obligations under this Agreement. This Agreement shall inure to the benefit of and be enforceable by Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If Executive should die while any amount is at such time payable to Executive hereunder, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to Executive’s devisee, legatee, or other designee or, if there be no such designee, to Executive’s estate.

		
	11.2
	Waiver. Either party’s failure to enforce any provision of this Agreement shall not in any way be construed as a waiver of any such provision, or prevent that party thereafter from enforcing each and every other provision of this Agreement.

		
	11.3
	Attorneys’ Fees. Each side will bear its own attorneys’ fees in any dispute unless a statutory section at issue, if any, authorizes the award of attorneys’ fees to the prevailing party; provided, that in the event Executive’s employment is terminated by the Company without Cause or due to Executive’s death or Disability, or by Executive for Good Reason, in each case following a Change in Control, the Company shall pay the Executive’s attorneys’ fees, unless the arbitrator or court, as applicable, finds the claim to be frivolous, in bad faith or without merit.

		
	11.4
	Severability. In the event any provision of this Agreement is found to be unenforceable by an arbitrator or court of competent jurisdiction, such provision shall be deemed modified to the extent necessary to allow enforceability of the provision as so limited, it being intended that the parties shall receive the benefit contemplated herein to the fullest extent permitted by law. If a deemed modification is not satisfactory in the judgment of such arbitrator or court, the unenforceable provision shall be deemed deleted, and the validity and enforceability of the remaining provisions shall not be affected thereby. 

		
	11.5
	Interpretation; Construction. The headings set forth in this Agreement are for convenience only and shall not be used in interpreting this Agreement. This Agreement has been drafted by legal counsel representing the Company, but Executive has participated in the negotiation 

Exhibit 10.12

of its terms. Furthermore, Executive acknowledges that Executive has had an opportunity to review and revise the Agreement and have it reviewed by legal counsel, if desired, and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Agreement.
		
	11.6
	Governing Law. This Agreement will be governed by and construed in accordance with the laws of the United States and the State of California applicable to contracts made and to be performed wholly within such State, and without regard to the conflicts of laws principles thereof.  

		
	11.7
	Arbitration.  In the event of any controversy, claim or dispute between the parties hereto arising out of or relating to this Agreement, the matter shall be determined by arbitration, which shall take place in Orange County, California, under the rules of the American Arbitration Association. The arbitrator shall be a retired Superior Court judge mutually agreeable to the parties and if the parties cannot agree such person shall be chosen in accordance with the rules of the American Arbitration Association. The arbitrator shall be bound by applicable legal precedent in reaching his or her decision. Any judgment upon such award may be entered in any court having jurisdiction thereof. Any decision or award of such arbitrator shall be final and binding upon the parties and shall not be appealable. The parties hereby consent to the jurisdiction of such arbitrator and of any court having jurisdiction to enter judgment upon and enforce any action taken by such arbitrator. The fees payable to the American Arbitration Association and the arbitrator shall be paid by the Company.

		
	11.8
	Notices. Any notice required or permitted by this Agreement shall be in writing and shall be delivered as follows with notice deemed given as indicated: (a) by personal delivery when delivered personally; (b) by overnight courier upon written verification of receipt; (c) by telecopy or facsimile transmission upon acknowledgment of receipt of electronic transmission; or (d) by certified or registered mail, return receipt requested, upon verification of receipt. Notice shall be sent to Executive at the last available address in the Company’s records and to the Company at its principal place of business, or such other address as either party may specify in writing.

		
	11.9
	Survival. Sections 2 (“Definitions”), 5 (“Termination and Severance”), 6 (“Acceleration of Equity Awards in the Event of a Change in Control”), 7 (“Limitation on Payment”), 8 (“Certain Restrictive Covenants”), 9 (“Indemnification”), and 11 (“General Provisions”) of this Agreement shall survive termination of Executive’s employment by the Company.

		
	11.10
	Entire Agreement. This Agreement, the Proprietary Rights Agreement, the Indemnification Agreement and any Company equity incentive plan and related award agreements evidencing outstanding equity awards held by Executive together constitute the entire agreement between the parties relating to this subject matter and supersede all prior or simultaneous representations, discussions, negotiations, and agreements, whether written or oral, including the Prior Agreement; provided, that this Agreement shall supersede any other written agreement (including any equity award agreement) between Executive and the Company as expressly provided in Section 6.2(f). This Agreement may be amended or modified only with the written consent of Executive and an authorized representative of the Company. No oral waiver, amendment or modification will be effective under any circumstances whatsoever.

Exhibit 10.12

		
	11.11
	Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. 

(Signature Page Follows)

Exhibit 10.12

THE PARTIES TO THIS AGREEMENT HAVE READ THE FOREGOING AGREEMENT AND FULLY UNDERSTAND EACH AND EVERY PROVISION CONTAINED HEREIN. WHEREFORE, THE PARTIES HAVE EXECUTED THIS AGREEMENT ON THE DATES SHOWN BELOW.
EXECUTIVE

Dated:     February 25, 2016                /s/ Vaseem Mahboob    
Print Name:     Vaseem Mahboob    

ENDOLOGIX, INC.

Dated:     February 25, 2016            By:    /s/ David M. Jennings                
Name:     David M. Jennings                        
Title:     VP, HR                                                 

Exhibit 10.12

EXHIBIT A

GENERAL RELEASE OF CLAIMS

THIS GENERAL RELEASE OF CLAIMS (“Release”) is entered into as of this _____ day of ________, ____, between [  ̃ ] (“Executive”), and Endologix, Inc., a Delaware corporation (the “Company”) (collectively referred to herein as the “Parties”).
WHEREAS, Executive and the Company are parties to that certain Employment Agreement dated as of October 15, 2015 (the “Agreement”);
WHEREAS, the Parties agree that Executive is entitled to certain severance benefits under the Agreement, subject to Executive’s execution of this Release; and
WHEREAS, the Company and Executive now wish fully and finally to resolve all matters between them.
NOW, THEREFORE, in consideration of, and subject to, the severance benefits payable to Executive pursuant to the Agreement, the adequacy of which is hereby acknowledged by Executive, and that Executive acknowledges that Executive would not otherwise be entitled to receive, Executive and the Company hereby agree as follows:
		
	1.
	General Release of Claims by Executive.

		
	1.1
	Executive, on behalf of himself or herself and his or her executors, heirs, administrators, representatives and assigns, hereby agrees to release and forever discharge the Company and all predecessors, successors and their respective parent corporations, affiliates, related, and/or subsidiary entities, and all of their past and present investors, directors, shareholders, officers, general or limited partners, employees, attorneys, agents and representatives, and the employee benefit plans in which Executive is or has been a participant by virtue of his or her employment with or service to the Company (collectively, the “Company Releasees”), from any and all claims, debts, demands, accounts, judgments, rights, causes of action, equitable relief, damages, costs, charges, complaints, obligations, promises, agreements, controversies, suits, expenses, compensation, responsibility and liability of every kind and character whatsoever (including attorneys’ fees and costs), whether in law or equity, known or unknown, asserted or unasserted, suspected or unsuspected (collectively, “Claims”), that Executive has or may have had against such entities based on any events or circumstances arising or occurring on or prior to the date hereof or on or prior to the date hereof, arising directly or indirectly out of, relating to, or in any other way involving in any manner whatsoever Executive’s employment by or service to the Company or the termination thereof, including any and all claims arising under federal, state, or local laws relating to employment, including without limitation claims of wrongful discharge, breach of express or implied contract, fraud, misrepresentation, defamation, or liability in tort, and claims of any kind that may be brought in any court or administrative agency including, without limitation, claims under Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C. Section 2000, et seq.; the Americans with Disabilities Act, as amended, 42 U.S.C. § 12101 et seq.; the Rehabilitation Act of 1973, as amended, 29 U.S.C. § 701 et seq.; the Civil Rights Act of 1866, and the Civil Rights Act of 1991; 42 U.S.C. Section 1981, et seq.; the Age 

Exhibit 10.12

Discrimination in Employment Act, as amended, 29 U.S.C. Section 621, et seq. (the “ADEA”); the Equal Pay Act, as amended, 29 U.S.C. Section 206(d); regulations of the Office of Federal Contract Compliance, 41 C.F.R. Section 60, et seq.; the Family and Medical Leave Act, as amended, 29 U.S.C. § 2601 et seq.; the Fair Labor Standards Act of 1938, as amended, 29 U.S.C. § 201 et seq.; the Employee Retirement Income Security Act, as amended, 29 U.S.C. § 1001 et seq.; and the California Fair Employment and Housing Act, California Government Code Section 12940, et seq.
Notwithstanding the generality of the foregoing, Executive does not release the following claims:
		
	(a)
	Claims for unemployment compensation or any state disability insurance benefits pursuant to the terms of applicable state law; 

		
	(b)
	Claims for workers’ compensation insurance benefits under the terms of any worker’s compensation insurance policy or fund of the Company; 

		
	(c)
	Claims pursuant to the terms and conditions of the federal law known as COBRA; 

		
	(d)
	Claims for indemnity under the bylaws of the Company, as provided for by Delaware law or under any applicable insurance policy with respect to Executive’s liability as an employee, director or officer of the Company;

		
	(e)
	Claims based on any right Executive may have to enforce the Company’s executory obligations under the Agreement; and

		
	(f)
	Claims Executive may have to vested or earned compensation and benefits.

		
	1.2
	EXECUTIVE ACKNOWLEDGES THAT EXECUTIVE HAS BEEN ADVISED OF AND IS FAMILIAR WITH THE PROVISIONS OF CALIFORNIA CIVIL CODE SECTION 1542, WHICH PROVIDES AS FOLLOWS:

“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH, IF KNOWN BY HIM OR HER, MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.”
BEING AWARE OF SAID CODE SECTION, EXECUTIVE HEREBY EXPRESSLY WAIVES ANY RIGHTS EXECUTIVE MAY HAVE THEREUNDER, AS WELL AS UNDER ANY OTHER STATUTES OR COMMON LAW PRINCIPLES OF SIMILAR EFFECT.
		
	1.3
	Executive acknowledges that this Release was presented to him or her on the date indicated above and that Executive is entitled to have 21 days’ time in which to consider it. Executive further acknowledges that the Company has advised Executive that Executive is waiving his or her rights under the ADEA, and that Executive may obtain advice concerning this Release from an attorney of his or her choice, and Executive has had sufficient time to consider the terms of this Release. Executive represents and acknowledges that if Executive executes this Release before 21 days have elapsed, Executive does so knowingly, voluntarily, 

Exhibit 10.12

and upon the advice and with the approval of Executive’s legal counsel (if any), and that Executive voluntarily waives any remaining consideration period.
		
	1.4
	Executive understands that after executing this Release, Executive has the right to revoke it within seven days after his or her execution of it. Executive understands that this Release will not become effective and enforceable unless the seven-day revocation period passes and Executive does not revoke the Release in writing. Executive understands that this Release may not be revoked after the seven-day revocation period has passed. Executive also understands that any revocation of this Release must be made in writing and delivered to the Company at its principal place of business within the seven-day period.

		
	1.5
	Executive understands that this Release shall become effective, irrevocable, and binding upon Executive on the eighth day after my execution of it, so long as Executive has not revoked it within the time period and in the manner specified in clause (d) above. Executive further understands that Executive will not be given any severance benefits under the Agreement until the effective date of this Release.

		
	2.
	No Assignment. Executive represents and warrants to the Company Releasees that there has been no assignment or other transfer of any interest in any Claim that Executive may have against the Company Releasees, or any of them. Executive agrees to indemnify and hold harmless the Company Releasees from any liability, claims, demands, damages, costs, expenses and attorneys’ fees incurred as a result of any such assignment or transfer from Executive.

		
	3.
	Paragraph Headings. The headings of the several paragraphs in this Release are inserted solely for the convenience of the Parties and are not a part of and are not intended to govern, limit or aid in the construction of any term or provision hereof. 

		
	4.
	Severability. The invalidity or unenforceability of any provision of this Release shall not affect the validity or enforceability of any other provision of this Release, which shall remain in full force and effect.

		
	5.
	Governing Law. This Release will be governed by and construed in accordance with the laws of the United States and the State of California applicable to contracts made and to be performed wholly within such State, and without regard to the conflicts of laws principles thereof. 

		
	6.
	Counterparts. This Release may be executed in several counterparts, each of which shall be deemed to be an original but all of which together shall constitute one and the same instrument.

		
	7.
	Construction. The language in all parts of this Release shall in all cases be construed simply, according to its fair meaning, and not strictly for or against any of the parties hereto. Without limitation, there shall be no presumption against any party on the ground that such party was responsible for drafting this Release or any part thereof. 

		
	8.
	Entire Agreement. This Release and the Agreement set forth the entire agreement of the Parties in respect of the subject matter contained herein and therein and supersede all prior agreements, promises, covenants, arrangements, communications, representations or warranties, whether oral or written, by any officer, employee or representative of any party hereto, and any prior agreement of the Parties in respect of the subject matter contained herein. 

Exhibit 10.12

		
	9.
	Amendment. No provision of this Release may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and signed by Executive and such officer of the Company as may be specifically designated by the Board.

		
	10.
	Understanding and Authority. The Parties understand and agree that all terms of this Release are contractual and are not a mere recital, and represent and warrant that they are competent to covenant and agree as herein provided. The Parties have carefully read this Release in its entirety; fully understand and agree to its terms and provisions; and intend and agree that it is final and binding on all Parties.

IN WITNESS WHEREOF, and intending to be legally bound, the Parties have executed the foregoing Release as of the date first written above.

EXECUTIVE                        ENDOLOGIX, INC.
            
By:                         
Print Name:                         Print Name:                     
Title:

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