Document:

Form of Omnibus Settlement Agreement

 Exhibit 10.36 
 OMNIBUS SETTLEMENT AGREEMENT 
 This Omnibus Settlement Agreement (the “Settlement
Agreement”) is entered into on this          day of
                        , 2009 (the “Signing Date”), between Energy Partners, Ltd. (the
“Company”) and                          (“Individual”) (collectively, the
“Parties”). 
 RECITALS 
 WHEREAS, the Company and Individual have entered into various arrangements that provide Individual with certain potential claims to receive cash payments and/or the settlement of equity compensation awards in
exchange for Individual’s continuous employment with the Company; 
 WHEREAS, the Company is undergoing a significant
restructuring that requires the Company to address its ability to fully perform its potential obligations under these arrangements; 
 WHEREAS, the Company’s promise to pay the settlement payment provided for within this Settlement Agreement is sufficient consideration for the exchange of Individual’s potential claims under the arrangements noted below;

 WHEREAS, subject to the approval of the United States Bankruptcy Court for the Southern District of Texas, Houston Division (the
“Court”) in that certain case styled In re Energy Partners, Ltd., et al., case no. 09-32957 (jointly administered), the Company and Individual now desire to amend the Parties’ rights and obligations with regard to
the compensation arrangements in exchange for new rights and obligations that will be governed solely by this Settlement Agreement; and 
 WHEREAS, each arrangement by and between the Company and Individual that shall be affected by this Settlement Agreement is specified below. 
 NOW, THEREFORE, in consideration of the mutual promises and benefits contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties
agree as follows: 
 SETTLEMENT AGREEMENT 
 1. Effectiveness of Agreement. This Settlement Agreement shall become effective only upon the occurrence of the following two events: (a) Individual executes this Settlement Agreement within the
specified time period noted below, and (b) the Court approves this Settlement Agreement (the “Approval Date”) (the date on which the later of the two individual events occur shall be referred to herein as the
“Effective Date”). For Individual’s execution to become effective under this Section 1, Individual must execute and return this Settlement Agreement to the Company by the later of the following dates:
(i) June 30, 2009, and (ii) the next business day immediately following the Approval Date. 
 2. Arrangements.
As of the Effective Date, Individual is a party to, a participant in, and/or has an interest in connection with the following arrangements with or sponsored by the Company: 
  

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	 	 ̈	 	 [Cash Retention Payment agreements, evidenced by a letter to Individual dated November 17, 2008 

  

	 	 ̈	 	 Energy Partners, Ltd. 2006 Long Term Stock Incentive Plan Special Restricted Share Unit Agreement 

  

	 	 ̈	 	 Energy Partners, Ltd. 2006 Long Term Stock Incentive Plan Cash-Settled Restricted Share Unit Agreement 

  

	 	 ̈	 	 Bonuses for the 2008 calendar year] 

 For purposes of this Settlement Agreement, the arrangements noted above in this Section 2 shall be collectively referred to as the “Arrangements.” 
 3. Exchange. Individual will waive, release, discharge, return, surrender or abandon, as appropriate, any and all potential claims to
receive cash and/or other property arising in respect of, and will surrender to the Company all outstanding equity compensation awards granted pursuant to, the Arrangements (collectively, the “Obligations”), in exchange for a
cash payment in the amount of [$] (the “Settlement Payment”). The Settlement Payment shall be paid one-half (1/2) to Individual on the Effective Date. The remaining one-half (1/2) of the Settlement Payment
shall be paid to Individual on the first to occur of the following two events: 
 (a) the Company’s exit from bankruptcy
under the terms of a confirmed plan of reorganization, provided that Individual is still employed by the Company on such date; or 
 (b) the date Individual is terminated by the Company without Cause. For purposes of this Settlement Agreement, the term “Cause” shall mean that Individual: (i) has engaged in gross
negligence, gross incompetence or willful misconduct in the performance of Individual’s duties with respect to the Company or any of its affiliates, (ii) has refused without proper legal reason to perform Individual’s duties and
responsibilities to the Company or any of its affiliates faithfully and to the best of Individual’s abilities, (iii) has materially breached any material provision of a written agreement or corporate policy or code of conduct established
by the Company or any of its affiliates, (iv) has willfully engaged in conduct that is materially injurious to the Company or any of its affiliates, (v) has failed to devote substantially all of Individual’s business time to the
Company’s business affairs (excluding failures due to illness, incapacity, vacations, incidental civic activities, and incidental personal time), (vi) has disclosed without proper authorization confidential information of the Company or
any of its affiliates that is injurious to any such entity, (vii) has failed to meet the performance objectives or standards established for Individual’s job position by Individual’s employer, (viii) has committed an act of
theft, fraud, embezzlement, misappropriation or willful breach of a fiduciary duty to the Company or any of its affiliates, or (ix) has been convicted of (or pleaded no contest to) a crime involving fraud, dishonesty or moral turpitude or any
felony (or a crime of similar import in a foreign jurisdiction). 
  

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 4. Complete Agreement. This Settlement Agreement constitutes the entire understanding and
agreement of the Company and Individual, and supersedes prior understandings and agreements, if any, among or between the Company and Individual, with respect to the subject matter of this Settlement Agreement, other than as specifically referenced
herein. Other than the terms set forth in this Settlement Agreement, there are no representations, agreements, arrangements or understandings, oral or written, concerning the subject matter hereof between and among the Company and Individual that
are not fully expressed or incorporated by reference in this Settlement Agreement. This Settlement Agreement does not, however, operate to supersede or extinguish any confidentiality, non-solicitation, non-disclosure or non-competition obligations
owed by Individual to the Company under any prior agreement. 
 5. Severability. If any provision contained in this Settlement
Agreement is determined to be void, illegal or unenforceable, in whole or in part, then the other provisions contained herein shall remain in full force and effect as if the provision that was determined to be void, illegal or unenforceable had not
been contained herein. 
 6. No Admission of Liability. This Settlement Agreement is not an admission of any liability but is a
compromise, and neither this Settlement Agreement nor the payment or provision of the Settlement Payment shall be treated as an admission of liability. All communications (whether oral or in writing) between and/or among the Parties, their counsel
and/or their respective representatives relating to, concerning or in connection with this Settlement Agreement, the negotiation thereof, and information exchanged between the Parties shall be governed and protected in accordance with Federal Rule
of Evidence 408 to the fullest extent permitted by law. 
 7. Governing Law. This Settlement Agreement shall be interpreted
under and governed by, construed and enforced in accordance with, and subject to, the laws of the State of Delaware, without giving effect to any principles of conflict of laws. 
 8. Waiver, Release and Compromise. In consideration of the benefits to be derived from this Settlement Agreement, the receipt and
sufficiency of which are hereby acknowledged, Individual hereby agrees as follows: 
 (a) Release and Waiver by
Individual. Individual, on behalf of him or herself and his or her family, assigns, representatives, agents, heirs and/or attorneys, if any, hereby covenants not to sue and fully, finally and forever completely waives, releases and discharges
the Company, along with each of its present and former parents, subsidiaries and/or affiliates, predecessors, successors and/or assigns, if any (collectively, the “Company Parties”), as well as each of the Company
Parties’ respective past, present and future officers, directors, managers, members, shareholders, employees, agents, attorneys and representatives, if any, jointly and severally (collectively with the Company Parties, the “Company
Released Parties”), of and from any and all claims, actions, obligations, liabilities, demands and/or causes of action, of whatever kind or character, whether now known or unknown, which Individual has or might claim to have against any
of the Company Released Parties: 
 (i) for the Obligations; 
  

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 (ii) for any and all injuries, harms, damages (whether actual or punitive), costs,
losses, expenses, attorneys’ fees and/or liabilities or other detriments, other than those relating to fraud, arising out of this Settlement Agreement, including, but not limited to, the return, surrender, or abandonment of Individual’s
potential claims to receive cash, other property or Individual’s equity compensation awards pursuant to this Settlement Agreement; and 
 (iii) for any and all injuries, harms, damages (whether actual or punitive), costs, losses, expenses, attorneys’ fees and/or liabilities or other detriments, if any, whenever incurred or suffered by Individual
arising from, relating to, or in any way connected with, any fact, event, transaction, action or omission that occurred or failed to occur prior to the Effective Date (though excluding claims arising out of fraud), including, without limitation:

 A. any claim under state or Federal law that provides civil remedies for the enforcement of rights arising out of the
employment relationship, including, without limitation, discrimination claims such as claims or causes of action under Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C. § 2000 et seq.; Civil Rights Act of 1866, 42
U.S.C. § 1981; Civil Rights Act of 1991, 42 U.S.C. § 1981a; Americans with Disabilities Act, 42 U.S.C. § 12101 et seq.; Fair Labor Standards Act, 29 U.S.C. § 201, et seq.; Employee Retirement Income Security
Act, 29 U.S.C. § 1000 et seq.; Family and Medical Leave Act, 29 U.S.C. § 2601, et seq.; Worker Adjustment Retraining and Notification Act, 29 U.S.C. § 2101, et seq.; Age Discrimination in Employment Act, 29 U.S.C.
§ 621, et seq., as amended by the Older Workers Benefit Protection Act of 1990, or any other Federal or state statute prohibiting discrimination in employment or granting rights to an individual arising out of an employment relationship;
and 
 B. claims for unpaid or withheld wages, bonuses, benefits, stock, stock options, or profit-sharing, wrongful discharge
or termination, breach of contract, promissory estoppel, breach of any implied covenants (including any duty of good faith and fair dealing), negligence, negligent hiring, negligent supervision, negligent retention, defamation, invasion of privacy,
slander, and intentional infliction of emotional distress. 
 (b) Additional Covenants and Agreements. 
 (i) Individual hereby waives, releases and forever discharges each of the Company Released Parties from any claims that this Settlement
Agreement was procured by fraud or signed under duress or coercion so as to make this Settlement Agreement not binding. 
 (ii) Notwithstanding anything contained herein to the contrary, this Settlement Agreement shall not release or waive, or in any manner affect or void: 
 A. Individual’s or the Company’s rights and obligations under this Settlement Agreement; 
 B. Individual’s (and, if applicable, Individual’s dependents’) right, for so long as Individual is employed by any Company
Released Party, to 

  

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remain covered under any insurance policy sponsored, maintained or purchased by any Company Released Party (if and to the extent that Company Released Party
is able to remain subscribed to such policy on and following the Effective Date of this Settlement Agreement) in which Individual (and if applicable, Individual’s dependents) participated as of the Effective Date of this Settlement Agreement;

 C. Individual’s right to be indemnified by the Company for actions or claims against Individual resulting from his or
her daily and ordinary employment duties, including, but not limited to, any claim with respect to which Individual would be entitled to indemnification by the Company under applicable corporate law, the certificate of incorporation or bylaws of the
Company or, if applicable, those certain indemnity agreements by and between certain of the Company’s officers or directors and the Company in place as of March 1, 2009; or 
 D. Individual’s rights pursuant to the Energy Partners, Ltd. Change of Control Severance Plan originally effective March 24,
2005, as amended or the Energy Partners, Ltd. Employee Change of Control Severance Plan originally effective September 13, 2006, as amended. 
 9. Fully Understood. The Parties understand and agree that (a) the consideration for this Settlement Agreement is contractual and not a mere recital, (b) the Company’s promise to pay the Settlement Payment is
sufficient consideration for the exchange of Individual’s potential claims under the Arrangements, (c) each Party has had the opportunity to engage counsel to review this Settlement Agreement and advise such Party with respect hereto,
(d) this Settlement Agreement and the agreements contained herein are binding upon, and inure to the benefit of, the Parties, their respective successors and assigns, and all persons claiming by or through such Parties, and
(e) Individual’s sole right here under is to receive the Settlement Payment, and if Individual does not execute this Settlement Agreement, Individual shall have no right to receive the Settlement Payment. Individual understands and agrees
that by signing this Settlement Agreement he or she is giving up the right to pursue any legal claims that he or she may have against any of the Company Released Parties. This Settlement Agreement shall be construed as if jointly drafted by the
Parties and no presumption or burden of proof shall arise favoring or disfavoring either Party by virtue of the authorship of any provision of this Settlement Agreement. 
 10. Amendment. This Settlement Agreement cannot be modified orally and can only be modified through a written document signed by both parties. 
 IN WITNESS WHEREOF, the Parties have executed this Settlement Agreement as of the day and year first above written. 
  

			
	ENERGY PARTNERS, LTD.
		
	By:	 	 
		
	Name:	 	 
		
	Title:	 	 
	
	INDIVIDUAL
	
	 
	[Name]

  

 5Letter Agreement between Thomas DeBrock and Energy Partners, Ltd.

 Exhibit 10.40 
  

					
	 RICHARD A. BACHMANN
 Chairman and CEO
	 	

	 	 Direct (504) 799-1944
 Fax: (504) 799-1901
 bachmann@eplweb.com

  
  
 November 29, 2007 
 Mr. Thomas DeBrock 
 102 Audubon Lane 
 Mandeville, LA 70471 
 Dear Tom: 
 In recognition of your valuable services to Energy
Partners, Ltd. (the “Company”) and to encourage you to remain in the employment of the Company, the Company will pay you a cash bonus of $120,000 (the “Annual Bonus Amount”) on each of the Applicable Payment Dates (as hereinafter
defined) provided that you remain in the employment of the Company through the Applicable Payment Date. For purposes of this letter, the following are the Applicable Payment Dates: (i) December 1, 2007, (ii) December 1, 2008,
(iii) December 1, 2009, (iv) December 1, 2010, and (v) December 1, 2011. 
 In the event that there is a Change
of Control (as defined in Exhibit A hereto) and your employment terminates before December 1, 2011 by reason of a Qualifying Termination (as defined in Exhibit A hereto) following such Change of Control, the Company will, subject to the
provisions of the next paragraph, pay you in a lump sum on such date as may be determined by the Company but not later than 60 days after such Qualifying Termination an amount equal to the sum of the Annual Bonus Amounts for each of the Applicable
Payment Dates subsequent to the date of termination of your employment. In the event that your employment terminates for any reason other than as set forth in the preceding sentence, you will forfeit any right to receive any Annual Bonus Amounts for
any Applicable Payment Dates subsequent to the date of termination of your employment. 
 It is intended that the payments under this letter
agreement satisfy the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and this letter agreement shall be interpreted and operated consistently with that intent. If you are a “specified
employee” (within the meaning of Code Section 409A and the regulations thereunder and as determined by the Company in accordance with said Section 409A) at the time of your separation from service (as defined below), any payment under
this letter agreement that is payable on account of such separation from service and not exempt under said Section 409A or the regulations thereunder shall be made no earlier than the date which is 6 months after the date of your separation
from service (or, if earlier than the end of such 6-month period, the date of your death), and (ii) you shall be deemed to have terminated from employment for purposes of this letter agreement if and only if you have experienced a
“separation from service” within the meaning of said Section 409A and the regulations thereunder. To the extent any payment under this letter agreement is subject to the 6-month delay, such payment shall be paid immediately after the
end of such 6-month period (or the date of your death, if earlier). 
  

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 Nothing in this letter will confer on you any right to continuance of employment with the Company or
interfere in any way with the right of the Company to terminate your employment at any time or for any reason. 
 If you have any questions,
please call me. 
 Please acknowledge your acceptance of the terms of this bonus arrangement by signing below and returning one copy to the
undersigned, whereupon this shall constitute a binding agreement between us. 
 Sincerely, 
  

	
	 /s/ Richard A. Bachmann

	 Richard A. Bachmann

	 Chairman and
 Chief Executive Officer

 ACCEPTED AND AGREED 
 THIS 29TH day of November 2007 
  

	
	 /s/ Thomas DeBrock

	 Thomas DeBrock

  

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 EXHIBIT A 
 DEFINITIONS 
 The following definitions shall apply for purposes of this letter agreement:

 1. “Cause” means with respect to you (i) your conviction of a felony, (ii) dishonesty, (iii) your
failure to perform your duties, (iv) insubordination, (v) theft, (vi) wrongful disclosure of confidential information, (vii) conflict of interest that is undisclosed and not approved by the Company’s Board of Directors,
(viii) violation of written Company policies applicable to all employees, or (ix) engaging in any manner, directly or indirectly, in a business that competes with the business of the Company in any capacity that is undisclosed and not
approved by the Company’s Board of Directors. 
 2. “Change of Control” means and shall be deemed to have occurred if:

 (a) any person (within the meaning of the Securities Exchange Act of 1934, as amended from time to time), other than the
Company or a Related Party, is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended from time to time), directly or indirectly, of Voting Securities representing 25 percent
or more of the total voting power of all the then-outstanding Voting Securities; or 
 (b) the individuals who, as of
May 4, 2006, constitute the Board of Directors of the Company, together with those who first become directors subsequent to such date and whose recommendation, election or nomination for election to the Board of Directors of the Company was
approved by a vote of at least a majority of the directors then still in office who either were directors as of May 4, 2006 or whose recommendation, election or nomination for election was previously so approved (the “Continuing
Directors”), cease for any reason to constitute a majority of the members of the Board of Directors of the Company; or 
 (c) a merger, consolidation, recapitalization or reorganization of the Company or a Subsidiary, reverse split of any class of Voting Securities, or an acquisition of securities or assets by the Company or a Subsidiary is consummated, other
than (I) any such transaction in which the holders of outstanding Voting Securities immediately prior to the transaction receive (or, in the case of a transaction involving a Subsidiary and not the Company, retain), with respect to such Voting
Securities, voting securities of the surviving or transferee entity representing more than 50 percent of the total voting power outstanding immediately after such transaction, with the voting power of each such continuing holder relative to other
such continuing holders not substantially altered in the transaction, or (II) any such transaction which would result in a Related Party beneficially owning more than 50 percent of the voting securities of the surviving entity outstanding
immediately after such transaction; or 
 (d) the stockholders of the Company approve a plan of complete liquidation of the
Company or an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets other than any such transaction which would result in a 

  

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Related Party owning or acquiring more than 50 percent of the assets owned by the Company immediately prior to the transaction. 
 For purposes of this definition of “Change of Control”: 
 (i) “Related Party” means (a) a majority-owned subsidiary of the Company; (b) an employee or group of employees of the
Company or any majority-owned subsidiary of the Company; (c) a trustee or other fiduciary holding securities under an employee benefit plan of the Company or any majority-owned subsidiary of the Company; or (d) a corporation owned directly
or indirectly by the stockholders of the Company in substantially the same proportion as their ownership of Voting Securities. 
 (ii) “Voting Securities” means any securities of the Company which carry the right to vote generally in the election of directors. 
 3. “Good Reason” for termination shall exist with respect to you if, without the your consent, any of the following events occur: 
  

	 	(i)	a material reduction in the your base salary; 

  

	 	(ii)	a material diminution in the your authority, duties or responsibilities; or 

  

	 	(iii)	any requirement that you relocate to an office which is more than 35 miles in driving distance from the office at which the you are employed immediately prior to the Change of
Control. 

 Notwithstanding the foregoing, if the Company ceases to be a public company, an event otherwise described in clause
(ii) above shall not be deemed to have occurred merely because your authority, duties or responsibilities are changed in connection with the Company’s ceasing to be a public company, provided your authority, duties and responsibilities
otherwise remain substantially the same as the authority, duties and responsibilities of a person with your position (determined before the change) within a comparably sized independent private energy company. 
 A termination of employment by you shall not be considered to be for Good Reason unless you provide written notice to the Company of the existence of the
condition constituting Good Reason within ninety (90) days after the initial existence of such condition, and the Company fails to remedy the condition within 30 days after receiving such notice. 
 4. “Qualifying Termination” means the termination of your employment within two years following a Change of Control either by reason of an
involuntary termination of employment by the Company without Cause or a voluntary termination of employment by you for Good Reason. 
  

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