Document:

Exhibit 10.1

 

 

 

April 29, 2022

 

PRIVATE & CONFIDENTIAL

 

Mr. M. Christopher Doyle

via email

 

Re:     Employment
Terms and Conditions –  President and Chief Executive Officer

 

Dear Chris:

 

Civitas Resources, Inc. (the "Company")
is pleased to offer you an employment position as President and Chief Executive Officer ("CEO"), reporting to the
Company's Board of Directors (the "Board"), effective as of May 2, 2022. In summary, as CEO, your compensation will
be:

 

		·	An annualized base salary of $1,300,000, subject to annual review and periodic increases at the discretion
of the Board, to be paid in accordance with the Company's payroll practices in effect from time to time, subject to all applicable withholdings
and deductions;

		·	In connection with your agreement to purchase, subject to compliance with applicable law and the Company's
policies and procedures, an aggregate of $2,000,000 of the Company's common stock in open market transactions by September 15, 2022
at fair market value on the purchase date(s), a one-time grant to you on the first day of your employment (the "Grant Date")
of Restricted Stock Units ("RSUs"), utilizing the form of award agreement consistent with the 2022 RSUs that have
been granted to other executive officers of the Company, equal in number to the quotient of (i) $2,000,000 divided by (ii) the
volume-weighted average price of the Company's common stock for the 30 trading days immediately preceding the Grant Date (the "Grant
Date Price"). The RSUs will vest ratably over a three-year period, one-third on each of the first three anniversaries of the
Grant Date;

		·	Participation in the Company's 2021 Long Term Incentive Plan ("LTIP"), subject to the
terms and conditions of the LTIP and the award agreement(s) to be entered into thereunder, at the discretion of the Company's Compensation
Committee and the Board as further discussed below. The LTIP is administered by the Compensation Committee and the Board. Your annual
 "target" LTIP award will be equal to $5,600,000 per year. For 2022, the number of shares of the Company's common stock subject
to your LTIP awards will be equal to the quotient of (i) $5,600,000 divided by (ii) the Grant Date Price, which will consist
of the following mix of award vehicles (each of which will be subject to award agreements consistent with the 2022 grants that have been
made to other executive officers of the Company):

		o	25% of total target value in RSUs, subject to three-year ratable time vesting from the Grant Date;

		o	50% of total target value in Performance Share Units ("PSUs") based on the Company's
absolute total shareholder return relative to pre-established goals during the measurement period 11/1/2021 to 12/31/2024; and

		o	25% of total target value in PSUs based on the Company's relative total shareholder return versus a selected
comparator group of companies during the measurement period 11/1/2021 to 12/31/2024;

 

CORPORATE OFFICE

555 17th Street, Suite 3700

Denver, CO 80202

Office: 303.293.9100

 

     

     

    

 

		·	Eligibility to participate in the Company's 401(k) Plan, in accordance with such plan;

		·	Eligibility to participate in the Company's health insurance plans upon your election subject to the terms
and conditions of the plans;

		·	Eligibility to participate in the Company's flexible benefit plan (Section 125 Plan);

		·	Participation in the Company's Executive Change in Control and Severance Plan (the "Severance
Plan") as a Tier 1 Executive (as such term is defined in the Severance Plan); and

		·	Reimbursement to you of up to $200,000 in substantiated relocation expenses, incurred during the 18-month
period commencing on May 2, 2022, that are reasonably required to relocate you and your family from your current home to a new home
in the Denver area, which expenses may include moving expenses, temporary housing costs, travel costs, and full closing costs (including
broker fees) associated with the sale of your existing home and the purchase of your new home.

 

The Company may modify compensation and benefits
from time to time as it deems necessary in accordance with the terms and conditions of the plans set forth above and the Company's policies.

 

The terms and conditions of employment set forth
in this Employment Letter are contingent upon your signing the Company's Employee Restrictive Covenants, Proprietary Information and Inventions
Agreement (the "PIIA") attached hereto as Exhibit A.

 

You will be expected to abide by the Company's
rules and regulations, as such may be modified by the Company from time to time.

 

Notwithstanding anything to the contrary, your
employment with the Company is AT WILL. You may terminate your employment with the Company at any time and for any reason whatsoever simply
by notifying the Company, subject only to any rights or obligations that may be required by the Severance Plan or the PIIA, each as may
be amended from time to time. Likewise, the Company may terminate your employment at any time and for any reason whatsoever, with or without
cause or advance notice, subject only to any rights and obligations that may be required by the Severance Plan or the PIIA, as each may
be amended from time to time.

 

In consideration for the benefits to be provided
to you under this Employment Letter to which you are not currently entitled, by executing this Employment Letter, you hereby (i) accept
the terms of employment outlined in this Employment Letter and (ii) acknowledge and agree that this Employment Letter constitutes
the entire agreement between you and the Company concerning your employment (except as otherwise may be set forth in the LTIP and any
agreements entered into thereunder, the Severance Plan, the PIIA or any Indemnification Agreement entered into between you and the Company
(collectively, the "Additional Agreements")), and supersedes and terminates all prior and contemporaneous agreements
and understandings, both written and oral, between the parties with respect to its subject matters, except for the Additional Agreements.
You agree that the Company has not made any promise or representation to you concerning this Employment Letter not expressed in this Employment
Letter, and that, in signing this Employment Letter, you are not relying on any prior oral or written statement or representation by the
Company, but are instead relying solely on your own judgment and the judgment of your legal and tax advisors, if any.

 

Finally, if you accept the employment position
of CEO as described herein, the current Board members shall elect you as an additional director of the Company shortly after June 1,
2022.

 

    Page 2 

     

    

 

If you have any questions or need additional information, please feel
free to contact me.

 

	 	 	Sincerely,
	 	 	 
	 	 	 
	 	 	/s/ Cyrus D. Marter IV
	 	 	Name: Cyrus D. Marter IV
	 	 	Title: General Counsel and Secretary
	 	 	 
	Accepted and agreed:	 	 
	 	 	 
	/s/ M. Christopher Doyle	 	 
	M. Christopher Doyle	 	 
	Date: 4.29.2022	 	 

 

    Page 3Exhibit 10.3

 

CIVITAS RESOURCES, INC.

EMPLOYEE RESTRICTIVE COVENANTS, PROPRIETARY
INFORMATION

AND INVENTIONS AGREEMENT

 

In consideration of my employment
or continued employment by Civitas Resources, Inc., a Delaware corporation (collectively with its subsidiaries and affiliates, including
without limitation, Bonanza Creek Energy Operating Company, LLC, HighPoint Operating Corporation, Extraction Oil & Gas, Inc.,
Crestone Peak Resources, Civitas North, LLC, Holmes Eastern Company, LLC, and Rocky Mountain Infrastructure, LLC, the "Company"),
and the compensation now and hereafter paid to me, I hereby agree to the following terms and conditions of this Employee Proprietary
Information and Inventions Agreement (this "Agreement"):

 

1.             NONDISCLOSURE.

 

1.1 Proprietary Information.

 

(a)             I
understand and agree that, during the course of my employment with the Company, I will have access to and learn about confidential,
secret, and/or proprietary documents, information, and other materials, in tangible and intangible form, of and relating to the Company
and its existing and prospective customers, suppliers, investors, and other associated third parties, which may include without limitation,
information relating directly or indirectly to: (a) drilling and completion optimization techniques, procedures, drilling reports,
maps, well logs, mud logs, seismic data, geological data and analyses, geophysical data and analyses, and other trade secrets, unpatented
inventions, ideas, methods, discoveries, know-how, unpublished patent applications, data, databases, analyses, reports, scientific and
technical information, designs, processes, specifications, source code, and object code, and depictions, in whole or in part, of any
of the foregoing, (collectively, "Inventions") of the Company; (b) information concerning the Company's past, present,
and future business affairs, including without limitation, finances, customer information, supplier information, vendor information,
products, services, organizational structure and internal practices, forecasts, sales and other financial results, records and budgets,
agreements and their terms, transactions, negotiations, and business, marketing, development, sales and other commercial strategies;
(c) any confidential, secret, and/or proprietary documents, materials, or other information Company has received or will receive
from third parties from time to time; and (d) notes, compilations, studies, summaries, interpretations, and other materials prepared
by or for the Company that contain, are based on, or otherwise reflect or are derived, in whole or in part, from any of the foregoing,
(collectively, "Proprietary Information").

 

(b)             I
understand and agree that the above list of Proprietary Information is not exhaustive, and that Proprietary Information also includes
other information that is marked or otherwise identified as confidential or proprietary or that would otherwise appear to a reasonable
person to be confidential or proprietary in the context and circumstances in which the information is known or used. Proprietary Information
shall not include information that is generally available to and known by the public, provided that such disclosure to the public is
not, directly or indirectly, through any fault or mine or any fault of a person(s) acting on my behalf.

 

(c)             I
further understand and agree that any and all Proprietary Information developed by me in the course of my employment by the Company shall
be subject to the terms and conditions of this Agreement as if the Company furnished the same Proprietary Information to me in the first
instance.

 

    	 	1	 

     

    

 

1.2 Nondisclosure.

 

(a)             At
all times during my employment and thereafter, I will hold in strictest confidence and will not, directly or indirectly, communicate,
make available, or disclose any Proprietary Information, in whole or in part, to any person or entity, except those persons or entities
under proper written confidentiality obligations having a need to know such Proprietary Information and as may be required in connection
with the performance of my authorized employment duties for the Company, or unless an officer of the Company expressly authorizes such
disclosure in writing. I will obtain the Company's prior written approval before lecturing upon, publishing, or submitting for publication
any material (written, verbal, or otherwise) that incorporates any Proprietary Information. I further agree not to access or use any
Proprietary Information, and not to copy any documents, records, files, media, or other resources containing any Proprietary Information,
or remove any such materials from the premises or control of the Company, except as required in the performance of my authorized employment
duties or with the prior written consent of an authorized officer.

 

(b)             Notwithstanding
anything contained herein to the contrary, nothing in this Agreement is intended to prohibit me from discussing the terms and conditions
of my employment with coworkers, exercising any protected rights to the extent such rights cannot be waived by this Agreement, or otherwise
disclosing information if and to the extent required by applicable law or valid court order.

 

(c)             I
understand and agree that my obligations under this Agreement regarding Proprietary Information begin immediately and shall continue
during and after my employment with the Company until the Proprietary Information has become public knowledge other than as a result
of any breach of this Agreement by me or by those acting in concert with me or on my behalf.

 

1.3
No Improper Use of Information of Prior Employers and Others. During my employment by the Company, I will not improperly
use or disclose any confidential or proprietary information of any former employer or any other person to whom I have an obligation of
confidentiality, and I will not bring onto the premises of the Company any unpublished documents or any property belonging to any former
employer or any other person to whom I have an obligation of confidentiality unless consented to in writing by that former employer or
person. I will use in the performance of my duties only information which is generally known and used by persons with training and experience
comparable to my own, which is common knowledge in the industry or otherwise legally in the public domain, or which is otherwise provided
or developed by the Company.

 

2.             WORK
PRODUCT; PROPRIETARY
RIGHTS.

 

2.1
Work Product. I acknowledge and agree that all Inventions that I create, prepare, produce, author, edit, amend, conceive, or
reduce to practice, individually or jointly with others, during the period of my employment and relating in any way to the business or
contemplated business, research, or development of the Company (regardless of when or where the Work Product is prepared or whose equipment
or other resources are used in preparing the same) and all printed, physical, and electronic copies, all improvements, rights, and claims
related to the foregoing, and other tangible embodiments thereof (collectively, "Work Product"), as well as any and all
rights in and to copyrights, trade secrets, trademarks (and related goodwill), mask works, patents, and other intellectual property rights
therein arising in any jurisdiction throughout the world and all related rights of priority under international conventions with respect
thereto, including all pending and future applications and registrations therefor, and continuations, divisions, continuations-in-part,
reissues, extensions, and renewals thereof (collectively, "Intellectual Property Rights"), shall be the sole and exclusive
property of the Company.

 

2.2
Works for Hire; Assignment. I acknowledge and agree that, by reason of being employed by the Company at the relevant
times, to the extent permitted by law, all of the Work Product consisting of copyrightable subject matter is "work made for
hire" as defined in the Copyright Act of 1976 (17 U.S.C. § 101), and such copyrights are therefore owned by the Company.
To the extent that the foregoing does not apply, I hereby irrevocably assign to the Company, for no additional consideration,
my entire right, title, and interest in and to all Work Product and Intellectual Property Rights therein, including the right to
sue, counterclaim, and recover for all past, present, and future infringement, misappropriation, or dilution thereof, and all rights
corresponding thereto throughout the world. Nothing contained in this Agreement shall be construed to reduce or limit my rights,
title, or interest in any Work Product or Intellectual Property Rights so as to be less in any respect than that the Company would
have had in the absence of this Agreement.

 

    	 	2	 

     

    

 

2.3
Previous Inventions. Any Inventions, whether or not patented, copyrightable, or registerable, that relate to the subject matter
of my employment with Company and which I, alone or jointly with others, conceived, developed, or reduced to practice, or caused to be
conceived, developed, or reduced to practice, prior to the commencement of my employment with the Company, which I consider to be my property
or the property of a third party, and that I wish to have excluded from the scope of this Agreement ("Previous Inventions")
are excluded from the scope of this Agreement. To preclude any possible uncertainty, within two (2) business days following my
signing of this Agreement, I will provide to the Company a complete written list of all Previous Inventions. Notwithstanding anything
to the contrary herein, if I do not timely provide the Company with the foregoing written list of Previous Inventions, I represent
that there are no Previous Inventions. If, in the course of my employment with the Company, I incorporate a Previous Invention into
any Work Product, I hereby grant the Company such rights and licenses with respect to such Previous Invention that will allow the
Company to use and otherwise exploit it perpetually throughout the universe for all or any purposes whatsoever to the same extent as if
the Company owned the Previous Invention, and without incurring any fees or costs to me or any other person. Without limiting the foregoing,
the foregoing license shall be: (a) irrevocable, perpetual, fully paid-up, worldwide, royalty-free, and freely assignable and sublicensable;
and (b) include the rights to use, reproduce, perform (publicly or otherwise), display (publicly or otherwise), modify, improve,
create derivative works of, distribute, import, make, have made, sell, and offer to sell the Previous Invention, including all such modifications,
improvements, and derivative works thereof. Notwithstanding the foregoing, I agree that I will not incorporate, or permit to be incorporated,
any Previous Invention in any Work Product without the Company's prior written consent.

 

2.4
Further Assurances; Power of Attorney. During and after my employment, I agree to reasonably cooperate with the Company
to: (a) apply for, obtain, perfect, and transfer to the Company the Work Product and Intellectual Property Rights therein in any
jurisdiction in the world; and (b) maintain, protect, and enforce the same, including without limitation, executing and delivering
to the Company any and all applications, oaths, declarations, affidavits, waivers, assignments, and other documents and instruments as
shall be requested by the Company. I hereby irrevocably grant the Company power of attorney to execute and deliver any such documents
on my behalf in my name and to do all other lawfully permitted acts to transfer the Work Product to the Company and further the transfer,
issuance, prosecution, and maintenance of all Intellectual Property Rights therein, to the full extent permitted by law, if I do not promptly
cooperate with the Company's request (without limiting the rights the Company shall have in such circumstances by operation of law). The
power of attorney is coupled with an interest and shall not be impacted by my subsequent incapacity.

 

2.5
Obligation to Keep Company Informed. During the period of my employment and for one (1) year thereafter, I will promptly
disclose to the Company fully and in writing: (a) all Inventions relating to the subject matter of my employment with Company that
are authored, conceived, or reduced to practice by me, either alone or jointly with others; and (b) all patent applications relating
to the subject matter of my employment with Company filed by me or on my behalf, or in which I am named as an inventor or co-inventor,
in each case to the extent permitted by applicable law.

 

2.6
Government or Third Party. Notwithstanding anything to the contrary herein, I also agree to assign all my right, title,
and interest in and to any particular Work Product to a third party, including without limitation the United States government, as directed
by the Company.

 

2.7
Presumption of Ownership. Due to the difficulty of establishing when Work Product is first conceived or developed,
whether it results from access to the Company's Proprietary Information or its actual or anticipated business, research, or
development, or whether it is a direct or indirect result or derivation of any work I perform for the Company, I hereby
acknowledge and agree that all right, title, and interest in and to any and all Work Product conceived, developed, suggested, or
reduced to practice by me during my employment, whether alone or jointly with others, shall be presumed to solely and exclusively
belong to the Company and I shall have the burden of proof to prove otherwise.

 

    	 	3	 

     

    

 

2.8
Moral Rights. To the extent any copyrights are assigned under this Agreement, I hereby irrevocably waive, to the extent
permitted by applicable law, any and all claims I may now or hereafter have in any jurisdiction to all rights of paternity, integrity,
disclosure, and withdrawal and any other rights that may be known as "moral rights" with respect to all Work Product and all
Intellectual Property Rights therein.

 

2.9
No License. I understand and agree this Agreement does not, and shall not be construed to, grant me any license or right
of any nature with respect to any Work Product, Intellectual Property Rights, or any Proprietary Information or other materials
or resources made available to me by the Company.

 

3.            SECURITY.
I agree and covenant: (a) to comply with all Company security policies and procedures in force
from time to time, including without limitation, those regarding data security and the Company's facilities and information
technology resources; (b) not to access or use any such facilities or information technology resources except as authorized by
the Company; and (c) not to access or use any facilities or information technology resources in any manner after the
termination of my employment with the Company, whether termination is voluntary or involuntary.

 

4.            RECORDS.
Unless otherwise directed or requested by the Company, I agree to keep and maintain adequate
and current records (in the form of notes, sketches, drawings and in any other form that may be required by the Company) of all Proprietary
Information and Work Product developed by me during the period of my employment with the Company, which such records will be available
to and remain the sole property of the Company at all times.

 

5.            RESTRICTIVE
COVENANTS.

 

5.1
Acknowledgement. I understand and agree that the nature of my position gives me access to and knowledge of Proprietary
Information and places me in a position of trust and confidence with the Company. I understand and acknowledge that the services I
provide to the Company are unique, special, or extraordinary. I further understand and acknowledge that the Company's ability to
reserve these for the exclusive knowledge and use of the Company is of great competitive importance and commercial value to the
Company and that improper use or disclosure by me is likely to result in unfair or unlawful competitive activity.

 

5.2 Non-Competition During Employment.

 

(a)             Because
of the Company's legitimate business interest as described herein and the good and valuable consideration offered to me, during my employment
with the Company, I agree and covenant not to engage in any activity: (i) in which I contribute my knowledge, directly or indirectly,
in whole or in part, whether for my benefit, through a family member, or as an employee, employer, owner, operator, manager, advisor,
consultant, agent, partner, director, stockholder, officer, volunteer, intern or other similar capacity, to an entity engaged in the
same or similar business as the Company, including any business in which the Company devoted material resources into entering during
my employment, including those engaged in (A) the acquisition, exploration, development, and/or production of onshore oil, natural
gas, and/or associated liquids in the United States of America; or (B) the leasing, acquiring, exploring, developing, or producing
of hydrocarbons or related products; or (ii) that may require or inevitably requires disclosure of trade secrets or other Proprietary
Information, (collectively, the "Business").

 

(b)             Because
of the Company's legitimate business interest as described herein and the good and valuable consideration offered to me, during my employment
with the Company, I agree and covenant not to, directly or indirectly: (i) invest or otherwise participate alongside the Company
in connection with any business ideas, prospects, proposals, or other opportunities pertaining to the Business that are or were developed
by me during my employment with the Company or originated by any third party and brought to my attention during my employment with the
Company and in such capacity ("Business Opportunity"); or (ii) invest or otherwise participate in any business
or activity relating to a Business Opportunity, regardless of whether the Company ultimately participates in such Business Opportunity.

 

    	 	4	 

     

    

 

(c)             Notwithstanding
anything to the contrary herein, the restrictions set forth in Section 5.2(a) and 5.2(b) shall not apply to any: (i) existing
personal oil and gas investments owned by me or my family members as of the date of this Agreement, as set forth on Exhibit A
hereto (the "Existing Personal Investments"); (ii) future expenditures made by me or my family members, provided
that such future expenditures do not go beyond the limited allowed for Permitted Investments (as defined below); (iii) Permitted
Investments (as defined below); or (iv) opportunity that is first offered to, and subsequently declined by, the Company (acting
through the Company's board of directors of the Company or its designee), if and to the extent that such opportunities are outside the
Geographic Scope (as defined below). For purposes of this Agreement, "Permitted Investments" means passive investments
in securities or other ownership interests of businesses made by me or my family members, provided that the aggregate amount owned by
me or my family members does not exceed 5% of the outstanding securities or other ownership interests of any such business, and provided
that neither myself nor my family members control, or are members of a group that controls, such business.

 

5.3 Non-Competition After Employment.

 

(a)             I
hereby acknowledge and agree that the purpose of this Section 5.3 is to protect the Company from unfair loss of goodwill and business
advantage, to shield me from the pressure to use or disclose Proprietary Information or to trade on the goodwill belonging to the Company,
for the protection of the Company's trade secrets and other Proprietary Information, and because of the knowledge I have acquired or
will acquire as an executive, management personnel, officer, or professional staff to an executive or management personnel. Accordingly,
during the Severance Obligation Period (as that term is defined in the Executive Change in Control and Severance Plan, as amended) (the
"Post-Termination Non-Compete Term"), I agree and covenant not to engage in any activity in which I contribute
my knowledge, directly or indirectly, in whole or in part, whether for my benefit, through a family member, or as an employee, employer,
owner, operator, manager, advisor, consultant, agent, employee, partner, director, stockholder, officer, volunteer, intern or other similar
capacity (other than as an employee of a chartered commercial bank with assets of $500 million or greater), to any business engaged in
leasing, acquiring, exploring, developing, or producing hydrocarbons and related products within the boundaries of, or within a twenty-five
(25) mile radius of the boundaries of, any mineral property interest of the Company (including, without limitation, a mineral lease,
overriding royalty interest, production payment, net profits interest, mineral fee interest, or option or right to acquire any of the
foregoing, or an area of mutual interest as designated pursuant to contractual agreement between the Company and any third party) or
any other property on which the Company has a right, license, or authority to conduct or direct exploratory activities, such as three
dimensional seismic acquisitions or other seismic, geophysical, and geochemical activities as of the date my employment with the Company
is terminated (the "Geographic Scope").

 

(b)             Notwithstanding
anything to the contrary herein, the restrictions in Section 5.3(a) shall not be construed to preclude me from: (a) holding
any Existing Personal Investments; (b) making future expenditures made by me or my family members in the Existing Personal Investments,
provided that such future expenditures do not go beyond the limited allowed for Permitted Investments; (c) making Permitted Investments;
or (d) investing in any opportunity that is first offered to, and subsequently declined by, the Company (acting through the board
of directors of the Company or its designee), if and to the extent that such opportunities are outside the Geographic Scope.

 

    	 	5	 

     

    

 

5.4
Non-Solicitation of Employees and Third Parties. I agree and covenant, during my employment with the Company and during
the Post-Termination Non-Compete Term, not to directly or indirectly solicit, hire, recruit, attempt to hire or recruit, or induce
the termination of any contract with any employee, independent contractor, consultant, advertiser, supplier, broker, vendor, agent,
sales representative, or licensee of the Company, or otherwise encourage the foregoing to discontinue or curtail his, her, or its
business relationships with the Company.

 

5.5
Non-Solicitation of Customers. I understand and acknowledge that because of my experience with and relationship to the
Company, I will have access to and learn about much or all of the Company's client and customer information which may include,
without limitation, names, phone numbers, addresses, email addresses, order history, order preferences, chain of command,
decisionmakers, pricing information, and other information identifying facts and circumstances specific to the customer or client. I
understand and acknowledge that loss of this customer relationship and/or goodwill will cause significant and irreparable harm to
the Company. I agree and covenant, during my employment with the Company and during the Post-Termination Non-Compete Term, not to
directly or indirectly solicit, contact, attempt to contact, or meet with the Company's current, former or prospective customers for
purposes of offering or accepting goods or services similar to or competitive with those offered by the Company.

 

5.6
Non-Disparagement. I agree and covenant that I will not at any time make, publish, or communicate to any person or entity or
in any public forum any defamatory or disparaging remarks, comments, or statements concerning the Company or its businesses, or any of
its employees or officers. This Section 5.6 does not, in any way, restrict or impede me from exercising protected rights to the extent
that such rights cannot be waived by agreement or from complying with any applicable law or valid court order.

 

6.             NO CONFLICTING OBLIGATION. I represent
that my performance of all the terms of this Agreement and as an employee of the Company does not and will not breach any
non-compete agreement or any agreement to keep in confidence information acquired by me in confidence or in trust prior to my
employment by the Company. I have not entered into, and I agree I will not enter into, any agreement either written or oral
in conflict with this Agreement.

 

7.             EXIT
OBLIGATIONS. 
I acknowledge and agree that, upon the voluntary or involuntary termination of my employment with the Company, or otherwise upon the
Company's request at any time during my employment,  I will: (a) provide or return to the Company any and all Company property,
including any keys, access cards, identification cards, security devices, employer credit cards, computers, mobile phones, and other
devices and equipment, manuals, files, work product, disks, thumb drives and other removable information storage devices, hard drives,
and all documents and materials belonging to the Company and stored in any fashion, including but not limited to those that constitute
or contain any Proprietary Information or Work Product, that are in my possession or control, whether they were provided to me by the
Company or any of its business associates, or created by me in connection with my employment with the Company; and (b) delete or
destroy all copies of any such documents and materials not returned to the Company that remain in my possession or control, including
those stored on any non-Company devices, networks, storage locations, and media in my possession or control. I understand and agree that
compliance with this paragraph may require that data be removed from my personal computer equipment or other electronic storage devices
or media. Consequently, upon reasonable prior notice, I agree to permit Company personnel and/or its contractors access to such
computer equipment or other electronic storage devices or media for that purpose. Prior to my last day of employment with the Company,
I will cooperate with the Company in completing and signing the Company's termination statement.

 

8.             NOTIFICATION OF NEW EMPLOYER. In
the event that I leave the employ of the Company, I hereby consent to the notification of my new employer of my rights and
obligations under this Agreement.

 

    	 	6	 

     

    

 

9.             GENERAL
PROVISIONS.

 

9.1 Remedies. I acknowledge
and agree that the Company's Proprietary Information and the Company's ability to reserve it for the exclusive knowledge and use of
the Company is of great competitive importance and commercial value to the Company, and that improper use or disclosure of the
Proprietary Information by me will cause irreparable harm to the Company, for which remedies at law will not be adequate. In the
event of a breach or threatened breach by me of any of the provisions of this Agreement, I hereby consent and agree that the
Company shall be entitled to, in addition to other available remedies, a temporary or permanent injunction, or other equitable
relief against such breach or threatened breach from any court of competent jurisdiction, without the necessity of showing any
actual damages or that monetary damages would not afford an adequate remedy, and without the necessity of posting any bond or other
security. The aforementioned equitable relief shall be in addition to, not in lieu of, legal remedies, monetary damages, or other
available forms of relief.

 

9.2
Notices. Any notices required or permitted hereunder will be given to the appropriate party at the address specified below
or at such other address as the party may specify in writing. Such notice will be deemed given upon personal delivery to the appropriate
address or if sent by certified or registered mail, three (3) days after the date of mailing.

 

9.3
Governing Law; Consent to Personal Jurisdiction. This Agreement will be governed by and construed according to the laws of
the State of Colorado, without regard for its conflicts of law principles that would require application of the laws of a different state.
I hereby expressly consent to the personal jurisdiction of the state and federal courts located in Denver, Colorado for any lawsuit filed
there against me by Company arising from or related to this Agreement.

 

9.4
Severability. In case any one or more of the provisions contained in this Agreement is, for any reason, held to be invalid,
illegal or unenforceable in any respect, such invalidity, illegality or unenforceability will not affect the other provisions of this
Agreement, and this Agreement will be construed as if such invalid, illegal or unenforceable provision had never been contained herein.
Notwithstanding the foregoing, if any one or more of the provisions contained in this Agreement is held to be excessively broad as to
duration, geographical scope, activity or subject, for any reason, it will be construed by limiting and reducing it, so as to be enforceable
to the extent compatible with the applicable law as it then appears.

 

9.5
Successors and Assigns. The Company may assign this Agreement to any subsidiary or corporate affiliate, or to any successor
or assign (whether direct or indirect, by purchase, merger, consolidation, or otherwise) to all or substantially all of the business or
assets of the Company. This Agreement shall inure to the benefit of the Company and permitted successors and assigns. I understand and
agree that I may not assign this Agreement or any part hereof, and that any purported assignment by me shall be null and void from the
initial date of purported assignment.

 

9.6
Survival. The provisions of this Agreement will survive the termination of my employment and the assignment of this Agreement
by the Company to any successor in interest or other assignee.

 

9.7
Acknowledgement. I acknowledge and agree that my relationship with the Company is "AT-WILL", and that both the
Company and I may terminate my employment relationship at any time, with or without cause or advance notice. I further agree and
understand that nothing in this Agreement will confer any right with respect to continuation of employment by the Company, nor will
it interfere in any way with my right or the Company's right to terminate my employment at any time, with or without cause or
advance notice. I further acknowledge and agree that the services to be rendered by me to the Company are of a special and unique
character; that I will obtain knowledge and skill relevant to the Company's industry, methods of doing business, and marketing
strategies by virtue of my employment; and that the terms and conditions of this Agreement are reasonable under these circumstances.
I further acknowledge that the amount of my compensation reflects, in part, my obligations and the Company's rights under this
Agreement; that I have no expectation of any additional compensation, royalties, or other payment of any kind not otherwise
referenced herein in connection herewith; that I will not be subject to undue hardship by reason of my full compliance with the
terms and conditions of this Agreement or the Company's enforcement thereof; and that this Agreement is not a contract of employment
and shall not be construed as a commitment by either me or the Company to continue an employment relationship for any certain period
of time.

 

    	 	7	 

     

    

 

9.8
Modification and Waiver. No provision of this Agreement may be amended or modified unless such amendment or modification is
agreed to in writing and signed by a duly authorized employee of the Company (other than me). No waiver by either me or the Company of
any breach by the other party of any condition or provision of this Agreement to be performed by the other party shall be deemed a waiver
of any similar or dissimilar provision or condition at the same or any prior or subsequent time, nor shall the failure of or delay by
either me or the Company in exercising any right, power, or privilege hereunder operate as a waiver thereof to preclude any other or further
exercise thereof or the exercise of any other such right, power, or privilege.

 

9.9
Entire Agreement. The obligations pursuant to Sections 1 and 2 of this Agreement will apply to any time during which I was
previously employed, or am in the future employed, by the Company as a consultant if no other agreement governs nondisclosure and assignment
of inventions during such period. Unless specifically provided herein, this Agreement contains all the understandings and representations
between me and the Company pertaining to the subject matter hereof and supersedes all prior and contemporaneous understandings, agreements,
representations, and warranties, both written and oral, with respect to such subject matter. No modification of or amendment to this Agreement,
nor any waiver of any rights under this Agreement, will be effective unless in writing and signed by the party to be charged. Any subsequent
change or changes in my duties, salary or compensation will not affect the validity or scope of this Agreement.

 

9.10
Advice of Counsel. I ACKNOWLEDGE AND AGREE THAT, IN EXECUTING THIS AGREEMENT, I HAVE HAD THE OPPORTUNITY TO
SEEK THE ADVICE OF INDEPENDENT LEGAL COUNSEL, AND I HAVE READ AND UNDERSTOOD ALL OF THE TERMS AND PROVISIONS OF THIS AGREEMENT. THIS
AGREEMENT MAY NOT BE CONSTRUED AGAINST ANY PARTY BY REASON OF THE DRAFTING OR PREPARATION HEREOF.

 

9.11 Export. The
export of technical data or products utilizing technical data to countries outside the United States could violate United States
export laws or regulations. I agree that I will not export such data, directly or indirectly, unless I have specific authorization
from the Company.

 

[Signatures on Following Page]

 

    	 	8	 

     

    

 

This
Agreement is effective as of April 29, 2022 (the "Effective
Date").

 

I HAVE READ THIS AGREEMENT CAREFULLY AND UNDERSTAND ITS TERMS.

 

	/s/ M. Christopher Doyle	 
	Signature	 
	 	 
	M. Christopher Doyle	 
	Print Name	 
	 	 
	4/29/2022	 
	Date	 
	 	 
	Accepted And Agreed:	 
	 	 
	CIVITAS RESOURCES, INC.	 
	 	 
	/s/ Cyrus
    D. Marter	 
	Signature	 
	 	 
	Cyrus Marter	 
	Print Name	 
	 	 
	General Counsel & Secretary	 
	Title	 
	 	 
	4/29/2022	 
	Date 	 

 

    	 	9

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