Document:

ex10_6.htm

    Exhibit
10.6

     

    
      QUICKSILVER
RESOURCES INC.

      AMENDED
AND RESTATED 1999 STOCK OPTION AND RETENTION STOCK PLAN

       

         

          
            
 

        

      

      
        1.  PURPOSE

         

      

      This
Amended and Restated 1999 Stock Option and Retention Stock Plan of Quicksilver
Resources Inc. is to promote and closely align the interests of officers and
employees with those of the shareholders of Quicksilver Resources Inc. by
providing stock based compensation.  The Plan is intended to
strengthen Quicksilver Resources Inc.’s ability to reward performance which
enhances long term shareholder value; to increase employee stock ownership
through performance based compensation plans; and to strengthen the company’s
ability to attract and retain an outstanding employee and executive
team.

       

        
          
 

      

      
        2.  DEFINITIONS

         

      

      The
following terms shall have the following meanings:

       

      “Act” means
the Securities Exchange Act of 1934, as amended.

       

      “Award” means
the grant of Options, Restricted Stock Units or an award of Retention Shares
pursuant to the Plan.

       

      “Beneficiary”
means any person or persons designated in writing by a Participant to the
Committee on a form prescribed by it for that purpose, which designation shall
be revocable at any time by the Participant prior to his or her death, provided
that, in the absence of such a designation or the failure of the person or
persons so designated to survive the Participant, “Beneficiary” shall mean such
Participant’s estate; and further provided that no designation of Beneficiary
shall be effective unless it is received by the Company before the Participant’s
death.

       

      “Board” means
the Board of Directors of the Company.

       

      “Code” means
the Internal Revenue Code of 1986, as amended, or the corresponding provisions
of any successor statute.

       

      “Committee”
means the Committee designated by the Board to administer the Plan pursuant to
Section 3.

       

      “Common Stock”
means the Common Stock of the Company.

       

      “Company”
means Quicksilver Resources Inc., a Delaware corporation, or any successor
corporation.

       

      “Deferral
Period” means the period of time during which Restricted Stock Units are
subject to deferral limitations, as provided in Section 10.

       

      “Executive
Officer” means the Chairman of the Board, President, Executive Vice
President or Vice President of the Company.

       

      “Grant” means
a grant of an Option pursuant to the Plan.

       

      “Option” means
each non-qualified stock option, incentive stock option and stock appreciation
right granted under the Plan.

       

      “Participant”
means any employee of the Company or a Subsidiary (including directors who are
also such employees) who is granted an Award under the Plan.

       

      “Plan” means
this Amended and Restated 1999 Stock Option and Retention Stock Plan of
Quicksilver Resources Inc., as amended from time to time.

       

      “Restricted Stock
Units” means a grant pursuant to Section 10 of the Plan of the right
to receive shares of Common Stock at the end of a specified period.

       

      “Retention
Shares” means shares of Common Stock awarded pursuant to Section 9
of the Plan.

       

      “Restriction
Period” means the period defined in Section 9(a).

       

      “Subsidiary”
means any corporation, partnership, or limited liability company of which the
Company owns directly or indirectly at least a majority of the outstanding
shares of voting stock or other voting interest.

       

      “Vesting
Condition” means any condition to the vesting of Retention Shares or
Restricted Stock Units established by the Committee pursuant to Section 9 or
Section 10.

       

        
          
 

      

      
        3.  ADMINISTRATION

         

      

      The Plan
shall be administered by the Committee which shall comprise not less than three
persons, who shall be members of the Board, none of whom shall be employees of
the Company or any Subsidiary.  All of the members of the Committee
are intended to (i) meet all applicable independence requirements of the
New York Stock Exchange or the principal national securities exchange or
principal market on which the Common Stock is traded, and (ii) to qualify
as “non-employee directors” as defined in Rule 16b-3 promulgated under the Act
and as “outside directors” as defined in regulations adopted under Section
162(m) of the Code, as such terms may be amended from time to time; provided,
however, that the failure of a member of the Committee to so qualify will not
invalidate any Award granted under the Plan.  The Committee shall
grant Awards to Participants and determine the terms and conditions of such
Awards, all in accordance with the provisions of the Plan.  The
Committee shall have full authority to construe and interpret the Plan, to
establish, amend and rescind rules and regulations relating to the Plan, to
administer the Plan, and to take all such steps and make all such determinations
in connection with the Plan and Awards granted thereunder as it may deem
necessary or advisable.  The Committee may delegate its authority
under the Plan to one or more Executive Officers or employees of the Company or
a Subsidiary; provided, however, that no delegation shall be made of authority
to take an action which is required by Rule 16b-3 promulgated under the Act to
be taken by “non-employee directors” in order that the Plan and transactions
thereunder meet the requirements of such Rule.  Each Award granted
hereunder shall be evidenced by an agreement to be executed by the Company and
the Participant, and contain provisions not inconsistent with the Plan
(including without limitation provisions relating to acceleration of vesting or
other adjustments in the event of a change in control of or business combination
involving the Company).  All determinations of the Committee shall be
by a majority of its members and shall be evidenced by resolution, written
consent or other appropriate action, and the Committee’s determinations shall be
final.  Each member of the Committee, while serving as such, shall be
considered to be acting in his or her capacity as a director of the
Company.  No member of the Committee shall be liable for any such
action or determination made in good faith.

       

        
          
 

      

      
        4.  ELIGIBILITY

         

      

      To be
eligible for selection by the Committee to participate in the Plan an individual
must be an employee of the Company or a Subsidiary.  Directors who are
not full-time salaried employees shall not be eligible.  In granting
Awards to eligible persons, the Committee shall take into account their duties,
their present and potential contributions to the success of the Company or a
Subsidiary, and such other factors as the Committee shall deem relevant in
connection with accomplishing the purpose of the Plan.

       

        
          
 

      

      
        5.  STOCK
SUBJECT TO THE PLAN

         

      

      Subject
to the provisions of Section 12 hereof, the maximum number of shares as to which
Options or Retention Shares may at any time be granted, or issued or transferred
in payment of Restricted Stock Units under the Plan, is equal to the sum of
(i) 1.2 million and (ii) the number of shares of Common Stock
that remain available for such grants as of the close of business on
May 17, 2004.  No Participant may receive Awards aggregating more
than 20% of the shares of Common Stock available under the
Plan.  Shares of Common Stock subject to Awards under the Plan may be
either authorized but unissued shares, issued and held for use in employee
compensation plans or shares previously issued and reacquired by the
Company.  Upon the expiration, termination or cancellation (in whole
or in part) of unexercised Options, shares of Common Stock subject thereto shall
again be available for option or grant as Retention Shares or Restricted Stock
Units under the Plan.  Shares of Common Stock covered by an Option, or
portion thereof, which is surrendered upon the exercise of a stock appreciation
right, shall thereafter be unavailable for option or grant as Retention Shares
or Restricted Stock Units under the Plan.  Upon the forfeiture (in
whole or in part) of a grant of Retention Shares or Restricted Stock Units, the
shares of Common Stock subject to such forfeiture shall again be available for
option or grant as Retention Shares or Restricted Stock Units under the
Plan.

       

        
          
 

      

      
        6.  TERMS
AND CONDITIONS OF NON-QUALIFIED OPTIONS

         

      

      All
non-qualified options under the Plan shall be granted subject to the following
terms and conditions:

       

      (a)           Option
Price.  The option price per share with respect to each Option
shall be determined by the Committee but shall not be less than 100% of the fair
market value of the Common Stock on the date the Option is granted, such fair
market value to be determined in accordance with the procedures to be
established by the Committee.

       

      (b)           Duration
of Options.  Options shall be exercisable at such time or times
and under such conditions as set forth in the written agreement evidencing such
Option but in no event shall any Option be exercisable subsequent to the tenth
anniversary of the date on which the Option is granted.

       

      (c)           Payment.  Shares
of Common Stock purchased under Options shall, at the time of purchase, be paid
for in full.  All, or any portion, of the option exercise price may be
paid by the surrender to the Company, at the time of exercise, of shares of
previously acquired Common Stock owned by the Participant and held for a period
of six months, to the extent that such payment does not require the surrender of
a fractional share of such previously acquired Common Stock.  Such
shares previously acquired or shares withheld to pay the option exercise price
shall be valued at fair market value on the date the Option is exercised in
accordance with the procedures to be established by the Committee.  A
holder of an Option shall have none of the rights of a stockholder until the
shares of Common Stock are issued to him or her.

       

      (d)           Non-Transferability
of Options.  During a Participant’s lifetime, the Option may be
exercised only by the Participant.  Options shall not be transferable,
except for exercise by the Participant’s legal representatives or
heirs.  An officer of the Company may, with prior approval from the
Committee (or its designee) as to form, transfer an exercisable non-qualified
option to (i) a member or members of the officer’s immediate family
(spouse, children and grandchildren, including step and adopted children and
grandchildren), (ii) a trust, the beneficiaries of which consist
exclusively of members of the officer’s immediate family, (iii) a
partnership, the partners of which consist exclusively of members of the
officer’s immediate family, or (iv) any similar entity created for the
exclusive benefit of members of the officer’s immediate family.  The
Committee or its designee must approve the form of any transfer of a Grant to or
for the benefit of any immediate family member or members before such transfer
shall be recognized as valid hereunder.  For purposes of the preceding
sentence, any remote, contingent interest of persons other than a member of the
officer’s immediate family shall be disregarded.  For purposes of this
Section 6(d), the term “officer” shall have the same meaning as that term is
defined in Rule 16a-1(f) of the Act. A person’s status as an officer shall be
determined at the time of the intended transfer.

       

      (e)           Termination
of Employment.  Except as may otherwise be provided in the
award agreement entered into in connection with any grant, upon the termination
of a Participant’s employment for any reason other than death, the Option shall
be exercisable only as to those shares of Common Stock which were then subject
to the exercise of such Option; provided, however, that in the case of
retirement, at or after age 55 and with at least five years of credited
service, from the Company or a Subsidiary, such Option shall immediately become
exercisable in full.  Such Option shall expire according to the
following schedule:

       

      (i)  Retirement.  Option
shall expire, unless exercised, five years after the Participant’s retirement,
at or after age 55 with at least five years of credited service, from the
Company or a Subsidiary.

       

      (ii)  Disability.  Option
shall expire, unless exercised, five years after the date the Participant is
terminated due to the determination by the Company that the Participant is
disabled as defined in section 22(e)(3) of the Code.

       

      (iii)  Gross
Misconduct.  Option shall expire upon receipt by the
Participant of the notice of termination if he or she is terminated for
deliberate, willful or gross misconduct as determined by the
Company.

       

      (iv)  All
Other Terminations.  Option shall expire, unless exercised,
three months after the date of such termination.

       

      In no
event, however, shall any Option be exercisable pursuant to this Section 6(e)
subsequent to the tenth anniversary of the date on which it is
granted.

       

      (f)           Death
of Participant.  Upon the death of a Participant during his or
her period of employment (or, if so provided in the award agreement, within
three months thereafter), the Option shall be exercisable only as to those
shares of Common Stock which were subject to the exercise of such Option at the
time of his or her death (or, if so provided in the award agreement, as to all
shares of Common Stock covered by such Option), provided that the Committee may
determine that particular limitations and restrictions under the Plan shall not
apply, and such Option shall expire, unless exercised by the Participant’s legal
representatives or heirs, five years after the date of death.  In no
event, however, shall any Option be exercisable pursuant to this Section 6(f)
subsequent to the tenth anniversary of the date on which it is
granted.

       

        
          
 

      

      
        7.  TERMS
AND CONDITIONS OF STOCK APPRECIATION RIGHTS

         

      

      (a)           General.  The
Committee may also grant a stock appreciation right in connection with a
non-qualified option at the time of grant.  Such stock appreciation
right shall cover the same shares covered by such Option (or such lesser number
of shares of Common Stock as the Committee may determine) and shall, except for
the provisions of Section 6(c) hereof, be subject to the same terms and
conditions as the related non-qualified option, including the requirement of
Section 6(a) that the option price per share shall not be less than 100% of
the fair market value of the Common Stock on the date the stock appreciation
right is granted.

       

      (b)           Exercise
and Payment.  Each stock appreciation right shall entitle the
Participant to surrender to the Company unexercised the related Option, or any
portion thereof, and to receive from the Company in exchange therefor an amount
equal to the excess of the fair market value of one share of Common Stock over
the option price per share times the number of shares covered by the Option, or
portion thereof, which is surrendered.  A grant may provide that
payment shall be made in shares of Common Stock valued at fair market value, or
in cash, or partly in shares and partly in cash, all as shall be determined by
the Committee.  The fair market value shall be the value determined in
accordance with procedures established by the Committee.  Stock
appreciation rights may be exercised from time to time upon actual receipt by
the Company of written notice stating the number of shares of Common Stock with
respect to which the stock appreciation right is being exercised, provided that
if a stock appreciation right expires unexercised, it shall be deemed exercised
on the expiration date if any amount would be payable with respect
thereto.

       

      (c)           Restrictions.  The
obligation of the Company to satisfy any stock appreciation right exercised by a
Participant subject to Section 16 of the Act shall be conditioned upon the prior
receipt by the Company of an opinion of counsel to the Company that any such
satisfaction will not create an obligation on the part of such Participant
pursuant to Section 16(b) of the Act to reimburse the Company for any statutory
profit which might be held to result from such satisfaction.

       

        
          
 

      

      
        8.  TERMS
AND CONDITIONS OF INCENTIVE STOCK OPTIONS

         

      

      (a)           General.  The
Committee may also grant incentive stock options as defined under section 422 of
the Code.  All incentive stock options issued under the Plan shall,
except for the provisions of Sections 6(d) (to the extent it allows the
Committee to permit Options to be transferred to, or for the benefit of, the
Participant’s immediate family members), 6(e) and (f) and Section 7 hereof, be
subject to the same terms and conditions as the non-qualified options granted
under the Plan.  In addition, incentive stock options shall be subject
to the conditions of Sections 8(b), (c) and (d).

       

      (b)           Limitation
on Shares.  No more than 1,176,562 shares of Common Stock,
subject to adjustment as provided in Section 5, shall be issued pursuant to
Options that are intended to qualify as incentive stock options.

       

      (c)           Termination
of Employment.  Except as may otherwise be provided in the
award agreement entered into in connection with any grant, upon the termination
of a Participant’s employment for any reason other than death, the incentive
stock option shall be exercisable only as to those shares of Common Stock which
were then subject to the exercise of such Option; provided, however, that in the
case of retirement, at or after age 55 and with at least five years of credited
service, from the Company or a Subsidiary, such Option shall immediately become
exercisable in full.  Such Option shall expire as an incentive stock
option according to the following schedule:

       

      (i)  Retirement.  The
incentive stock option shall expire, unless exercised, three months after the
Participant’s retirement, at or after age 55 with at least five years of
credited service, from the Company or a Subsidiary.

       

      (ii)  Disability.  The
incentive stock option shall expire, unless exercised, one year after the date
the Participant is terminated due to the determination by the Company that the
Participant is disabled as defined in section 22(e)(3) of the Code.

       

      (iii)  Gross
Misconduct.  The incentive stock option shall expire upon
receipt by the Participant of the notice of termination if he or she is
terminated for deliberate, willful or gross misconduct as determined by the
Company.

       

      (iv)  All
Other Terminations.  The incentive stock option shall expire,
unless exercised, three months after the date of such termination.

       

      To the
extent that an award agreement permits the exercise of an Option intended to be
an incentive stock option beyond the applicable period set forth in Section
8(c)(i), 8(c)(ii) or 8(c)(iv), the Option shall expire as an incentive stock
option and become a non-qualified option exercisable pursuant to the terms of
Section 6 for the balance of the exercise period set forth in the award
agreement.  In no event, however, shall any incentive stock option be
exercisable pursuant to this Section 8(c) subsequent to the tenth anniversary of
the date on which it was granted.

       

      (d)           Death
of Participant.  Upon the death of a Participant during his or
her period of employment (or, if so provided in the award agreement, within
three months thereafter), the incentive stock option shall be exercisable as an
incentive stock option only as to those shares of Common Stock which were
subject to the exercise of such Option at the time of death (or, if so provided
in the award agreement, as to all shares of Common Stock covered by such
Option), provided that the Committee may determine that particular limitations
and restrictions under the Plan shall not apply, and such Option shall expire as
an incentive stock option, but shall become a non-qualified option exercisable
pursuant to the terms of Section 6 for the balance of the exercise period set
forth in the award agreement.  In no event, however, shall any
incentive stock option be exercisable pursuant to this Section 8(d) subsequent
to the tenth anniversary of the date on which it was granted.

       

        
          
 

      

      
        9.  TERMS
AND CONDITIONS OF AWARDS OF RETENTION STOCK

         

      

      (a)           General.  Retention
Shares may be granted to incent or reward the attainment of individual, Company
or Subsidiary goals, or to attract or retain officers or other employees of the
Company or any Subsidiary.  With respect to each grant of Retention
Shares under the Plan, the Committee shall determine the period or periods,
including any conditions for determining such period or periods, during which
the restrictions set forth in Section 9(b) shall apply (the “Restriction
Period”), provided that the Committee may also specify any other terms or
conditions to the right of the Participant to receive such Retention Shares
(“Vesting Conditions”).  Subject to Section 9(c) and any such Vesting
Conditions, a grant of Retention Shares shall be effective for the Restriction
Period and may not be revoked.

       

      (b)           Restrictions.  At
the time of grant of Retention Shares to a Participant, either (i) a stock
certificate evidencing the shares of Common Stock granted shall be registered in
the Participant’s name to be held by the Company for his or her account or
(ii) an appropriate entry evidencing the shares of Common Stock granted
shall be made in the stock ownership records or other books and records
maintained by or on behalf of the Company.  The Participant shall have
the entire beneficial ownership interest in, and all rights and privileges of a
stockholder as to, such Retention Shares, including the right to vote such
Retention Shares and, unless the Committee shall determine otherwise, the right
to receive dividends thereon, subject to the following: (i) subject to Section
9(c), the Participant shall not be entitled to delivery of any stock certificate
evidencing such Retention Shares until the expiration of the Restriction Period
and the satisfaction of any Vesting Conditions; (ii) none of the Retention
Shares may be sold, transferred, assigned, pledged, or otherwise encumbered or
disposed of during the Restriction Period or prior to the satisfaction of any
Vesting Conditions; and (iii) all of the Retention Shares shall be forfeited and
all rights of the Participant to such Retention Shares shall terminate without
further obligation on the part of the Company unless the Participant remains in
the continuous employment of the Company or a Subsidiary for the entire
Restriction Period, except as provided by Sections 9(a) and 9(c), and any
applicable Vesting Conditions have been satisfied.  Any shares of
Common Stock or other securities or property received as a result of a
transaction listed in Section 12 shall be subject to the same restrictions as
such Retention Shares.

       

      (c)           Termination
of Employment.

       

      (i)  Disability
and Retirement.  If (A) a Participant ceases to be an employee
of the Company or a Subsidiary prior to the end of a Restriction Period by
reason of disability due to the determination by the Company that the
Participant is disabled, as defined in section 22(e)(3) of the Code, or
retirement, at or after age 55 and with at least five years of credited service,
from the Company or a Subsidiary and (B) all Vesting Conditions have been
satisfied, the Retention Shares granted to such Participant shall immediately
vest and all restrictions applicable to such shares shall lapse.

       

      (ii)  Death.  If
(A) a Participant ceases to be an employee of the Company or a Subsidiary prior
to the end of a Restriction Period by reason of death, and (B) all Vesting
Conditions have been satisfied, the Retention Shares granted to such Participant
shall immediately vest in his or her Beneficiary, and all restrictions
applicable to such shares shall lapse.

       

      (iii)  All
Other Terminations.  If a Participant ceases to be an employee
of the Company or a Subsidiary prior to the end of a Restriction Period for any
reason other than death, disability or retirement as provided in Sections
9(c)(i) and (ii), the Participant shall immediately forfeit all Retention Shares
then subject to the restrictions of Section 9(b) in accordance with the
provisions thereof, except that the Committee may, if it finds that the
circumstances in the particular case so warrant, allow a Participant whose
employment so terminated to retain any or all of the Retention Shares then
subject to the restrictions of Section 9(b) and all restrictions applicable to
such retained shares shall lapse.

       

      (iv)  Vesting
Conditions.  If a Participant ceases to be an employee of the
Company or a Subsidiary for any reason prior to the satisfaction of any Vesting
Conditions, the Participant shall immediately forfeit all Retention Shares then
subject to the restrictions of Section 9(b) in accordance with the provisions
thereof, except that the Committee may, if it finds that the circumstances in
the particular case so warrant, allow a Participant whose employment has so
terminated to retain any or all of the Retention Shares then subject to the
restrictions of Section 9(b) and all restrictions applicable to such retained
shares shall lapse.

       

      (d)           Payment
of Retention Shares.  Provided that the Participant is still an
Employee of the Company or a Subsidiary at the end of the Restriction Period and
after all Vesting Conditions have been satisfied, or at such earlier time as
provided for in Section 9(c) or as the Committee, in its sole discretion, may
otherwise determine, all restrictions applicable to the Retention Shares shall
lapse and, if the Restricted Shares are evidenced by a stock certificate, a
stock certificate evidencing a number of shares of Common Stock equal to the
number of Retention Shares, free of all restrictions, shall be delivered to the
Participant or his or her Beneficiary, as the case may be.  If an
amount is payable by a Participant to the Company or a Subsidiary under
applicable withholding tax laws in connection with the lapse of such
restrictions the Participant may make such payment, in whole or in part, by
authorizing the Company to transfer to the Company Retention Shares otherwise
deliverable to the Participant having a fair market value equal to the amount to
be paid under such withholding tax laws.

       

        
          
 

      

      
        10.  TERMS
AND CONDITIONS OF RESTRICTED STOCK UNITS

         

      

      (a)           General.  Restricted
Stock Units may be granted to incent or reward the attainment of individual,
Company or Subsidiary goals, or to attract or retain officers or other employees
of the Company or any Subsidiary.  With respect to each grant of
Restricted Stock Units, the Committee shall determine the applicable Deferral
Period or Periods, provided that the Committee may also specify any other
Vesting Conditions with respect to the Participant’s right to receive payment of
the Restricted Stock Units.  Each grant will constitute the agreement
by the Company to issue or transfer shares of Common Stock to the Participant in
the future, subject to the fulfillment during the Deferral Period of such
conditions as the Committee may specify.  Subject to Section 10(c) and
any Vesting Conditions, a grant of Restricted Stock Units shall be effective for
the Deferral Period and may not be revoked.  Each grant will be
evidenced by an award agreement which will contain such terms and provisions as
the Committee may determine consistent with the Plan, including without
limitation provisions relating to the Participant’s termination of employment by
reason of retirement, death, disability or otherwise.

       

      (b)           Vesting.  Each
grant will provide that the Restricted Stock Units shall be subject to one or
more Deferral Periods, which will be fixed by the Committee on the date of
grant, and any grant or sale may provide for the earlier termination of such
period in the event of a change in control or other similar transaction or event
involving the Company.  None of the Restricted Stock Units or any
underlying shares of Common Stock may be sold, transferred, assigned, pledged,
or otherwise encumbered or disposed of during the Deferral Period or prior to
the satisfaction of any Vesting Conditions.  The Restricted Stock
Units of a Participant shall be forfeited and all rights of a Participant with
respect to such Restricted Stock Units and any underlying shares of Common Stock
shall terminate without further obligation on the part of the Company unless the
Participant remains in the continuous employment of the Company or a Subsidiary
for the applicable Deferral Period, except as provided by Section 10(c), and any
applicable Vesting Conditions have been satisfied.  Unless and until
any shares of Common Stock underlying a Restricted Stock Unit shall have been
issued in payment of such Restricted Stock Unit, no holder of a Restricted Stock
Unit shall have any rights of ownership in such shares of Common Stock,
including any right to vote such shares or to receive dividends on account of
such shares.  The Committee may, however, on or after the date of the
grant authorize the payment of dividend equivalents on such shares in cash or
shares of Common Stock, on a current, deferred or contingent basis.

       

      (c)           Termination
of Employment.

       

      (i)  Disability
and Retirement.  If (A) a Participant ceases to be an employee
of the Company or a Subsidiary prior to the end of a Deferral Period by reason
of disability due to the determination by the Company that the Participant is
disabled, as defined in section 22(e)(3) of the Code, or retirement, at or after
age 55 and with at least five years of credited service, from the Company or a
Subsidiary and (B) all Vesting Conditions have been satisfied, the Deferral
Period applicable to the Restricted Stock Units granted to such Participant
shall immediately terminate and the Restricted Stock Units shall be fully
vested.

       

      (ii)  Death.  If
(A) a Participant ceases to be an employee of the Company or a Subsidiary prior
to the end of a Deferral Period by reason of death, and (B) all Vesting
Conditions have been satisfied, the Deferral Period applicable to the Restricted
Stock Units granted to such Participant shall immediately terminate and the
Restricted Stock Units shall be fully vested.

       

      (iii)  All
Other Terminations.  If a Participant ceases to be an employee
of the Company or a Subsidiary prior to the end of a Deferral Period for any
reason other than death, disability or retirement as provided in Sections
10(c)(i) and (ii), the Participant shall immediately forfeit all Restricted
Stock Units as to which the Deferral Period has not previously expired or been
terminated, except that the Committee may, if it finds that the circumstances in
the particular case so warrant, provide that the Deferral Period applicable to
the Restricted Stock Units held by such a Participant shall immediately
terminate.

       

      (iv)  Vesting
Conditions.  If a Participant ceases to be an employee of the
Company or a Subsidiary for any reason prior to the satisfaction of any Vesting
Conditions, the Participant shall immediately forfeit all Restricted Stock Units
with respect to which such Vesting Conditions have not been satisfied, except
that the Committee may, if it finds that the circumstances in the particular
case so warrant, waive the Vesting Conditions applicable to the Restricted Stock
Units held by such Participant.

       

      (d)           Payment
of Vested Restricted Stock Units.  Provided that the
Participant is still an employee of the Company or a Subsidiary, upon the
expiration or termination of the applicable Deferral Period and after all
Vesting Conditions have been satisfied, or as soon as practicable thereafter, or
at such earlier time as provided for in Section 10(c) or as the Committee, in
its sole discretion may otherwise determine, either (i) a stock certificate
evidencing the Participant’s (or Beneficiary’s) ownership of a number of shares
of Common Stock equal to the number of affected Restricted Stock Units shall be
registered in the Participant’s (or Beneficiary’s) name to be held by the
Company for his or her account, or (ii) an appropriate entry evidencing the
number of shares of Common Stock equal to the number of affected Restricted
Stock Units shall be made in the stock ownership records or other books and
records maintained by or on behalf of the Company.

       

        
          
 

      

      
        11.  REGULATORY
APPROVALS AND LISTING

         

      

      The
Company shall not be required to issue to a Participant or Beneficiary, as the
case may be, any shares of Common Stock upon exercise of an Option or settlement
of a Restricted Stock Unit or any award of Retention Shares granted under the
Plan prior to (i) the obtaining of any approval from any governmental agency
which the Company, in its sole discretion, shall determine to be necessary or
advisable, (ii) the admission of such shares to listing on any stock exchange on
which the Common Stock may then be listed, and (iii) the completion of any
registration or other qualification of such shares under any state or Federal
law or rulings or regulations of any governmental body which the Company, in its
sole discretion, shall determine to be necessary or advisable.

       

        
          
 

      

      
        12.  ADJUSTMENT
IN EVENT OF CHANGES IN CAPITALIZATION

         

      

      In the
event of a recapitalization, stock split, stock dividend, combination or
exchange of shares, merger, consolidation, rights offering, separation,
spin-off, reorganization or liquidation, or any other change in the corporate
structure or shares of the Company, the Board, upon recommendation of the
Committee, shall make equitable adjustments in the number and kind of shares
authorized by the Plan, in the option price of outstanding Options, and in the
number and kind of shares or other securities or property subject to or covered
by outstanding Awards.  In the event of any such transaction or event,
the Committee, in its discretion, may provide in substitution for any or all
outstanding Awards such alternative consideration as it, in good faith, may
determine to be equitable in the circumstances and may require in connection
with such substitution the surrender of all Awards so replaced.

       

      The
Committee may accelerate the payment of, or vesting with respect to, any Award
under the Plan upon the occurrence of a transaction or event described in this
Section 12.

       

      The
Company will not be required to issue any fractional share of Common Stock
pursuant to the Plan.  The Committee may provide for the elimination
of fractions or for the settlement of fractions in cash.

       

        
          
 

      

      
        13.  TERM
OF THE PLAN

         

      

      No Awards
shall be granted pursuant to the Plan after August 18, 2009, but grants of
Awards theretofore granted may extend beyond that date and the terms and
conditions of the Plan shall continue to apply thereto.

       

        
          
 

      

      
        14.  TERMINATION
OR AMENDMENT OF THE PLAN

         

      

      The Board
may at any time terminate the Plan with respect to any shares of Common Stock
not at that time subject to outstanding Awards, and may from time to time alter
or amend the Plan or any part thereof (including, but without limiting the
generality of the foregoing, any amendment deemed necessary to ensure that the
Company may obtain any approval referred to in Section 11 or to ensure that the
grant of Awards, the exercise of Options or payment of Retention Shares,
Restricted Stock Units or any other provision of the Plan complies with Section
16(b) of the Act and Section 409A of the Code), provided that no change with
respect to any Awards theretofore granted may be made which would impair the
rights of a Participant without the consent of such Participant and, further,
that without the approval of stockholders, no alteration or amendment may be
made which would (i) increase the maximum number of shares of Common Stock
subject to the Plan as set forth in Section 5 (except by operation of Section
12), (ii) extend the term of the Plan, (iii) change the class of eligible
persons who may receive Awards under the Plan or (iv) increase the limitation
set forth in Section 5 on the maximum number of shares that any Participant may
receive under the Plan.

       

        
          
 

      

      
        15.  GENERAL
PROVISIONS

         

      

      (a)           Neither
the Plan nor the grant of any Award nor any action by the Company, any
Subsidiary or the Committee shall be held or construed to confer upon any person
any right to be continued in the employ of the Company or a
Subsidiary.  The Company and each Subsidiary expressly reserve the
right to discharge, without liability but subject to his or her rights under the
Plan, any Participant whenever in the sole discretion of the Company or a
Subsidiary, as the case may be, its interest may so require.

       

      (b)           To
the extent that the Company is required to withhold federal, state, local or
foreign taxes in connection with any payment made or benefit realized by a
Participant or other person under the Plan, and the amounts available to the
Company for such withholding are insufficient, it shall be a condition to the
receipt of such payment or the realization of such benefit that the Participant
or such other person make arrangements satisfactory to the Company for payment
of the balance of such taxes required to be withheld.  In addition, if
permitted by the Committee, the Participant or such other person may elect to
have any withholding obligation of the Company satisfied with shares of Common
Stock that would otherwise be transferred in payment of the
Award.  However, without the consent of the Committee, shares of
Common Stock shall not be withheld in excess of the minimum number of shares
required to satisfy the Company’s withholding obligation.

       

      (c)           It
is the Company’s intention that any Award granted under the Plan that
constitutes a deferral of compensation within the meaning of Section 409A of the
Code and the guidance issued by the Secretary of the Treasury under Section 409A
of the Code shall satisfy the requirements of Section 409A of the
Code.  In granting such an Award, the Committee will use its best
efforts to exercise its authority under the Plan with respect to the terms of
such grant in a manner that the Committee determines in good faith will cause
the Award to comply with Section 409A of the Code and thereby avoid the
imposition of penalty taxes and interest upon the Participant receiving the
Award.  Notwithstanding any provision of the Plan or an Award to the
contrary, (i) if the Company makes a good faith determination that a payment of
an Award (A) constitutes a deferral of compensation for purposes of Section
409A of the Code, (B) is made to a Participant by reason of his or her
“separation from service” (within the meaning of Section 409A of the Code) and
(C) at the time such payment would otherwise be made the Participant is a
“specified employee” (within the meaning of Section 409A of the Code), the
payment will be delayed until the first day of the seventh month following the
date of such separation from service, and (ii) if a “Change in Control” (as
defined in an Award) would be the date of payment of the Award and the Award is
determined to constitute a deferral of compensation, but the Change in Control
does not constitute a change in the ownership or effective control of the
Company, or in the ownership of a substantial portion of the assets of the
Company (within the meaning of Section 409A of the Code), then the date of
payment will be determined without regard to the occurrence of the Change in
Control.

       

      (d)           If
the Committee determines, with the advice of legal counsel, that any provision
of the Plan would prevent the payment of any Award intended to qualify as
performance-based compensation within the meaning of Section 162(m) of the Code
from so qualifying, such Plan provision shall be invalid and cease to have any
effect without affecting the validity or effectiveness of any other provision of
the Plan.

       

      (e)           All
questions pertaining to the construction, regulation, validity and effect of the
Plan shall be determined in accordance with the laws of the State of Delaware,
without regard to conflict of laws doctrine.

       

        
          
 

      

      
        16.  EFFECTIVE
DATE

         

      

      The 1999
Stock Option and Retention Stock Plan was adopted by the Board effective as of
October 4, 1999 and was approved by the stockholders of the Company on June 6,
2000.  The Amended and Restated 1999 Stock Option and Retention Stock
Plan was approved by stockholders of the Company on May 18, 2004, and was
subsequently amended and restated by the Board effective August 24, 2004,
September 24, 2004, March 8, 2005, April 18, 2005, May 23, 2007
and November 24, 2008.

       

      
        
          	QUICKSILVER
      RESOURCES INC.	
                   

                
	 	 	 
	By:	
                  /s/ Glenn
      Darden

                	
                   

                
	 	
                  
                    Glenn
      Darden, President and Chief Executive Officerex10_7.htm

    Exhibit
10.7

     

    
      QUICKSILVER
RESOURCES INC.

      AMENDED
AND RESTATED

      EXECUTIVE

      CHANGE
IN CONTROL RETENTION INCENTIVE PLAN

       

      WHEREAS,
Quicksilver Resources Inc., a Delaware corporation (the “Company”) considers it
to be in the best interests of its stockholders to encourage the continued
employment of certain Executives (as defined herein) notwithstanding the
possibility, threat or occurrence of a Change in Control (as defined
herein);

       

      WHEREAS,
the Company believes that the possibility of the occurrence of a Change in
Control may result in the termination by the Executive of the Executive’s
employment by the Company or in the distraction of the Executive from the
performance of his or her duties to the Company, in either case to the detriment
of the Company and its stockholders;

       

      WHEREAS,
the Company recognizes that the Executive could suffer adverse financial and
professional consequences if a Change in Control were to occur;
and

       

      WHEREAS,
the Company has determined that it is advisable to establish a severance benefit
program to protect the Executive if a Change in Control occurs, thereby
encouraging the Executive to remain in the employ of the Company and not to be
distracted from the performance of his or her duties to the Company by the
possibility of a Change in Control.

       

      NOW,
THEREFORE, the Company adopts the Quicksilver Resources Inc. Amended and
Restated Executive Change in Control Retention Incentive Plan, the terms of
which are as follows:

       

      ARTICLE
1

      DEFINITIONS

       

      1.1           “Base
Salary” means the Participant’s annual gross salary before any
deductions, exclusions or any deferrals or contributions under any Company plan
or program, but excluding bonuses, incentive compensation, deferred
compensation, employee benefits, expense reimbursements or any other non-salary
form of compensation being received by a Participant (determined without regard
to any reduction in such Base Salary that occurs after a Change in
Control).

       

      1.2           “Benchmark
Bonus” means the greater of (a) the average of the three annual
bonuses earned by the Participant under the terms of the Company’s annual
incentive plan for the three consecutive fiscal years of the Company immediately
preceding the Change in Control event (or, if the Participant has been employed
for fewer than three fiscal years of the Company, the average of all annual
bonuses earned by the Participant under the terms of the Company’s annual
incentive plan for the fiscal years immediately preceding the Change in Control
event) or (b) the annual bonus that would be payable to the Participant if the
target level of performance was achieved for the fiscal year of the Company in
which the Change in Control event occurs under the terms of the Company’s annual
incentive plan applicable to such Participant. In the event that a Participant
received a bonus in a year in which he was not employed for the entire 12 months
of that year, such bonus will be annualized for purposes of determining the
average as set forth in Article 1.2(a).

       

      1.3           “Benefits”
means the severance benefits a Participant is entitled to receive pursuant to
Article 3 hereof, and any retention bonus a Participant is entitled to receive
pursuant to Article 5 hereof.

       

      1.4           “Board”
means the Board of Directors of the Company or its direct or indirect
parent.

       

      1.5           “Cause”
means (a) the conviction of the Participant for any felony involving dishonesty,
fraud or breach of trust or (b) the willful engagement by the Participant in
gross misconduct in the performance of his or her duties that materially injures
the Company.  For purposes of this Plan, no act or failure to act on
the part of the Participant shall be deemed “willful” if it was due primarily to
an error in judgment or negligence, but shall be deemed “willful” only if done
or omitted to be done by the Executive not in good faith and without reasonable
belief that the Participant’s action or omission was in the best interest of the
Company.  Notwithstanding the foregoing, solely for purposes of this
Plan, the Participant shall not be deemed to have been terminated for “Cause”
hereunder unless and until there shall have been delivered to the Participant a
copy of a resolution duly adopted by the affirmative vote of not less than three
quarters of the Board then in office at a meeting of the Board called and held
for such purpose, after reasonable notice to the Participant and an opportunity
for the Participant, together with the Participant’s counsel (if the Participant
chooses to have counsel present at such meeting), to be heard before the Board,
finding that, in the good faith opinion of the Board, the Participant had
committed an act constituting “Cause” as herein defined and specifying the
particulars thereof in detail.  Nothing herein will limit the right of
the Participant or his beneficiaries to contest the validity or propriety of any
such determination.

       

      1.6           “Change
in Control” means the occurrence of any of the following after the
Effective Date:

       

      (a)           any
individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2)
of the Securities Exchange Act of 1934 (“Exchange Act”)) is or becomes the
beneficial owner (within the meaning of Rule 13d-3 promulgated under the
Exchange Act) of 50% or more of the combined voting power of the
then-outstanding Voting Stock of the Company; provided, however, that the
following acquisitions shall not constitute a Change in Control:  (i)
any acquisition of Voting Stock of the Company directly from the Company that is
approved by a majority of the Incumbent Directors; (ii) any acquisition of
Voting Stock of the Company by the Company or any Subsidiary of the Company;
(iii) any acquisition of Voting Stock of the Company by the trustee or other
fiduciary holding securities under any employee benefit plan (or related trust)
sponsored or maintained by the Company or any Subsidiary of the Company; and
(iv) any acquisition of Voting Stock of the Company by Mercury Exploration
Company, Quicksilver Energy, L.P., The Discovery Fund, Pennsylvania Avenue
Limited Partnership, Pennsylvania Management Company, the estate of Frank
Darden, Lucy Darden, Anne Darden Self, Glenn Darden or Thomas Darden, or their
respective successors, assigns, designees, heirs, beneficiaries, trusts, estates
or controlled affiliates;

       

      (b)           a
majority of the Board ceases to be comprised of Incumbent Directors;
or

       

      (c)           the
consummation of a reorganization, merger or consolidation or sale or other
disposition of all or substantially all of the consolidated assets of the
Company (each, a “Business Combination Transaction”) immediately after which the
Voting Stock of the Company outstanding immediately prior to such Business
Combination Transaction does not continue to represent (either by remaining
outstanding or by being converted into Voting Stock of the entity surviving,
resulting from, or succeeding to all or substantially all of the Company’s
consolidated assets as a result of such Business Combination Transaction or any
parent of such entity), at least 50% of the combined voting power of the
then-outstanding shares of Voting Stock of (i) the entity surviving,
resulting from, or succeeding to all or substantially all of the Company’s
consolidated assets as a result of, such Business Combination Transaction or
(ii) any parent of any such entity (including, without limitation, an
entity which as a result of such transaction owns the Company or all or
substantially all of the Company’s assets either directly or through one or more
subsidiaries).

       

      For
purposes of this Plan, (i) “Incumbent Directors” means the individuals who, as
of the date hereof, are Directors of the Company and any individual becoming a
Director subsequent to the date hereof whose election, nomination for election
by the Company’s shareholders, or appointment, was approved by a vote of a
majority of the then Incumbent Directors (either by a specific vote or by
approval of the proxy statement of the Company in which such person is named as
a nominee for director, without objection to such nomination) and (ii) “Voting
Stock” means securities entitled to vote generally in the election of
Directors.

       

      1.7           “Code”
means the Internal Revenue Code of 1986, as amended.

       

      1.8           “Company”
means Quicksilver Resources Inc., a Delaware corporation.  The term
“Company” shall also include any Successor, whether the liability of such
Successor under the Plan is established by contract or occurs by operation of
law.

       

      1.9           “Effective
Date” means the date on which the Plan is adopted.

       

      1.10           “Employment
Termination Date” means the date on which the employment relationship
between the Participant and the Company is terminated due to an Involuntary
Termination.

       

      1.11           “ERISA”
means the Employee Retirement Income Security Act of 1974, as
amended.

       

      1.12           “Executive”
means an employee of the Company or a Subsidiary whose name appears on Exhibit B
which is attached hereto and made a part hereof for all purposes, as the same
may be amended in the Company’s discretion from time to time (subject to
Article 9).

       

      1.13           “Excise
Tax” means the excise tax imposed by Section 4999 of the Code, together
with any interest or penalties imposed with respect to such tax.

       

      1.14           “Good
Reason Event” means the occurrence of one or more of the following events
or conditions after the occurrence of a Change in Control:

       

      (a)           the
Company removes the Participant from, or fails to re-elect or appoint the
Participant to, any duties or position with the Company that were assigned or
held by the Participant immediately before the occurrence of the Change in
Control, except that a nominal change in the Participant’s title that is merely
descriptive and does not affect rank or status shall not constitute such an
event;

       

      (b)           the
Company or a Subsidiary assigns to the Participant any duties inconsistent with
the Participant’s position (including offices, titles and reporting
requirements), authority, duties or responsibilities with the Company or a
Subsidiary in effect immediately before the occurrence of the Change in
Control;

       

      (c)           the
Company takes any action that results in a material diminution of the
Participant’s position, authority, duties or responsibilities or otherwise takes
any action that materially interferes therewith;

       

      (d)           the
Company reduces the Participant’s Base Salary or the Participant’s incentive
bonus opportunity as in effect immediately prior to such reduction (including a
reduction in the Participant’s incentive bonus target or any other action that
would adversely affect the Participant’s participation in or benefits under the
Company’s incentive bonus plan(s));

       

      (e)           the
Company or a Subsidiary relocates the Participant’s principal workplace to an
area that is located outside of a radius of 50 miles from the location of the
Participant’s principal workplace immediately prior to the Change in Control, or
requires the Participant to perform a majority of his or her duties more than 50
miles from the Participant’s principal work location (determined as of the date
of the Change in Control) for a period of more than 21 consecutive days or for
more than 90 days in any calendar year;

       

      (f)           the
Company or a Subsidiary fails to (i) continue in effect any bonus, incentive,
profit sharing, performance, savings, retirement or pension policy, plan,
program or arrangement (such policies, plans, programs and arrangements
collectively being referred to herein as “Basic
Benefit Plans”),
including, but not limited to, any deferred compensation, supplemental executive
retirement or other retirement income, stock option, stock purchase, stock
appreciation, or similar policy, plan, program or arrangement of the Company or
a Subsidiary, in which the Participant was a participant immediately before the
occurrence of the Change in Control, unless an equitable and reasonably
comparable arrangement (embodied in a substitute or alternative benefit or plan)
shall have been made with respect to such Basic Benefit Plan promptly following
the occurrence of the Change in Control, or (ii) continue the Participant’s
participation in any Basic Benefit Plan (or any substitute or alternative plan)
on substantially the same basis, both in terms of the amount of benefits
provided to the Participant (which are in any event always subject to the terms
of any applicable Basic Benefit Plan) and the level of the Participant’s
participation relative to other participants, as existed immediately before the
occurrence of the Change in Control;

       

      (g)           the
Company or a Subsidiary fails to continue to provide the Participant with
benefits substantially similar to those enjoyed by the Participant under any of
the Company’s
or a Subsidiary’s other benefit plans, policies, programs and arrangements,
including, but not limited to, life insurance, medical, dental, health,
hospital, accident or disability plans, in which the Participant was a
participant immediately before the occurrence of the Change in
Control;

       

      (h)           the
Company takes any action that would directly or indirectly materially reduce any
other non-contractual benefits that were provided to the Participant by the
Company immediately before the occurrence of the Change in Control or deprive
the Participant of any material fringe benefit enjoyed by him or her immediately
before the occurrence of the Change in Control;

       

      (i)           the
Company fails to provide the Participant with the number of paid vacation days
to which he or she was entitled in accordance with the Company’s vacation policy
in effect immediately before the occurrence of the Change in
Control;

       

      (j)           the
Company fails to continue to provide the Participant with office space, related
facilities and support personnel (including, but not limited to, administrative
and secretarial assistance) (i) that are both commensurate with
Participant’s responsibilities to and position with the Company immediately
before the occurrence of the Change in Control and not materially dissimilar to
the office space, related facilities and support personnel provided to employees
of the Company having comparable responsibility to the Participant, or
(ii) that are physically located at the Company’s principal executive
offices;

       

      (k)           the
Company fails to honor any provision of this Plan; or

       

      (l)           the
Company gives effective notice of an election to terminate at the end of the
term (or to not extend the term) of any employment agreement that the
Participant has or may in the future have with the Company or the Successor in
accordance with the terms of any such agreement.

       

      1.15           “Involuntary
Termination” means the termination of a Participant’s employment
relationship with the Company and each Subsidiary (a) by the Company or a
Subsidiary after the occurrence of a Change in Control for any reason other than
Cause, or (b) by the Participant on account of a Good Reason
Event.  For purposes of the Plan, a Participant’s termination will not
be considered to be on account of a Good Reason Event unless the Participant
terminates employment no more than 60 days following such Good Reason
Event.  A Participant shall not be deemed to have incurred an
Involuntary Termination by reason of the transfer of the Participant’s
employment between the Company and any of its Subsidiaries, or among
Subsidiaries.  The Plan Administrator shall determine, in its sole
discretion, whether a Participant’s termination of employment from the Company
or any Subsidiary constitutes an Involuntary Termination.  For
purposes of the Plan, a Participant will not be considered to have terminated
his or her employment relationship unless the termination of employment
qualifies as a Separation from Service.

       

      1.16           “Participant”
means an individual who is an Executive on the date a Change in Control
occurs.  An individual who is classified by the Company as a temporary
employee or an independent contractor on the date of which a Change in Control
occurs is not eligible to participate in the Plan (even if he or she is
subsequently reclassified by the Internal Revenue Service or a court as a common
law employee of the Company and the Company acquiesces to such
reclassification). Notwithstanding the foregoing, in the event that an Executive
has entered into an employment agreement with the Company or a Subsidiary, such
Executive will not be deemed a Participant under this Plan unless such
employment agreement specifically adopts and incorporates this Plan by
reference.

       

      1.17           “Payment”
means any payment, benefit or distribution (or combination thereof) by the
Company or any of its Subsidiaries to or for the benefit of a Participant,
whether paid, payable, distributed, distributable or provided pursuant to the
Plan or otherwise, including any payment, benefit or other right that
constitutes a “parachute payment” within the meaning of Section 280G of the
Code.

       

      1.18           “Person”
means any individual, entity or group that is a “person” within the meaning of
Section 3(a)(9), 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as
amended.

       

      1.19           “Plan”
means the Quicksilver Resources Inc. Amended and Restated Executive Change in
Control Retention Incentive Plan, as set forth herein and as amended from time
to time.

       

      1.20           “Plan
Administrator” means the Company; however, the Company may designate any
Person or a committee to administer the Plan in accordance with the provisions
of Article 8.

       

      1.21           “Release”
means the Release Agreement in substantially the form attached hereto as Exhibit
A and made a part hereof for all purposes.

       

      1.22           “Separation
from Service” means a Participant’s separation from service within the
meaning of Section 409A of the Code; provided, however, that to the extent
permitted by Section 409A of the Code, a Participant will be treated as
incurring a Separation from Service if the reasonably anticipated level of bona
fide services the Participant will perform is permanently decreased to less than
50% of the average level of bona fide services performed by the Participant over
the immediately preceding 12 months.

       

      1.23           “Specified
Employee” means a specified employee within the meaning of Section 409A
of the Code.  A Participant who is identified by the Company as a
Specified Employee at any time during a calendar year will be considered a
Specified Employee for purposes of Article 4 during the 12-month period
that begins on April 1 of the immediately following calendar year, and no
other Participant will be considered a Specified Employee during such 12-month
period.

       

      1.24           “Subsidiary”
means a corporation, partnership, limited liability company or other entity in
which the Company owns directly or indirectly more than 50% of the outstanding
shares of voting stock or other voting interest.

       

      1.25           “Successor”
means a person with or into which the Company shall have been merged or
consolidated or to which the Company shall have transferred all or substantially
all of its assets.

       

      ARTICLE
2

      ELIGIBILITY

       

      (a)           Except
as specified herein, a Participant who incurs an Involuntary Termination within
two years after the occurrence of a Change in Control (including such a
termination on the date of the Change in Control) shall be entitled to the
severance benefits described in Article 3 hereof.

       

      (b)           The
Plan does not provide benefits with respect to any termination of employment
prior to the occurrence of a Change in Control, whether such termination is for
Cause or otherwise.  A Participant will forfeit all Benefits under the
Plan if he or she is discharged by the Company for Cause.

       

      ARTICLE
3

      CHANGE
IN CONTROL BENEFITS

       

      Subject
to Article 4 hereof, the Company shall pay or provide a Participant who has
satisfied the requirements of Article 2 hereof the following
Benefits:

       

      (a)           A
single sum cash payment equal to three times the sum of (i) the
Participant’s Base Salary, plus (ii) the Participant’s Benchmark
Bonus.

       

      (b)           To
the extent permitted by law the Company shall take all actions necessary to
cause the Participant’s account balances under the Company’s 401(k) Plan to
become fully vested and nonforfeitable; provided that such action would not
require the accelerated vesting of any other participant’s account balance in
the Company’s 401(k) Plan.

       

      (c)           To
the extent permitted by Section 409A of the Code, all outstanding stock options,
and restricted share and restricted share unit awards held by the Participant
shall immediately become fully vested.

       

      (d)           The
Company shall take the following actions:

       

      (i)           Throughout
the two years following the Employment Termination Date, the Company shall
maintain in effect and not materially reduce the benefits provided by the
Company’s group medical, dental and vision insurance and group basic life
insurance plans in which the Participant participated immediately prior to the
Employment Termination Date; and

       

      (ii)           the
Company shall arrange for the Participant’s uninterrupted participation
throughout the two-year period commencing on the Participant’s Employment
Termination Date in such group medical, dental and vision insurance and group
basic life insurance plans, provided that if the Participant’s participation
after his or her Employment Termination Date in any such plan is not permitted
by the terms of that plan, then throughout such two-year period, the Company
shall provide the Participant with substantially the same benefits that were
provided to the Participant under such plan immediately before the Employment
Termination Date.  All reimbursements of expenses under the Company’s
medical, dental and vision programs or other reimbursements of expenses shall be
made no later than December 31 of the year following the year in which the
Participant incurs the related expense.  In no event will the amount
of expenses eligible for reimbursement, or in-kind benefits provided, by the
Company in one taxable year affect the amount of expenses eligible for
reimbursement, or in-kind benefits to be provided, in any other taxable
year.  The Participant’s right to reimbursement or in-kind benefits
shall not be subject to liquidation or exchange for another
benefit.

       

      (e)           Benefits
under the Plan shall not be taken into account as compensation for purposes of
determining contributions or benefits under any other employee benefit plan of
the Company or a Subsidiary.  In addition, Benefits under the Plan
shall be reduced by any severance, termination or similar payments payable to a
Participant pursuant to any employment, change in control, severance or similar
agreement with the Company or a Subsidiary, unless such agreement expressly
provides that a cash severance or retention payment is in addition to the
Benefits under the Plan.

       

      ARTICLE
4

      TIME
OF SEVERANCE PAYMENT

       

      Provided
that the Participant has executed and delivered to the Company the Release and
such Release has become effective and irrevocable in accordance with its terms
prior to the date of payment, the Company shall pay the Participant the cash
severance benefits described in paragraph (a) of Article 3 on the 60th day after the date of
the Participant’s Separation from Service and shall provide the benefits
described in paragraph (d) of Article 3; provided, however, that if the Company
determines in good faith that (a) any payment to the Participant or his estate
or beneficiaries under Article 3 or Article 6 hereof does not qualify for the
“short-term deferral exception” or otherwise would constitute a “deferral of
compensation” under Section 409A of the Code, (b) the Participant is a Specified
Employee, and (c) delay of such payment is required by Section 409A of the Code
and is not already provided for, the payment date shall instead be the earlier
of (x) the first day of the seventh month following the date of the
Participant’s Separation from Service, or (y) the date of the Participant’s
death.  If payment is required to be delayed pursuant to the foregoing
provision, the cash severance payment described in paragraph (a) of
Article 3 shall be increased to include interest payable on such cash
severance payment at the interest rate described below from the date of the
Participant’s Separation from Service to the date of payment.  The
interest rate shall be determined as of the date of the Participant’s Separation
from Service and shall be the rate of interest then most recently published in
The
Wall Street Journal as the “prime rate” at large U.S. money center
banks.

       

      If the
Participant fails to furnish the executed Release, or if the Release furnished
by the Participant has not become effective and irrevocable by the date of
payment, the Participant will not be entitled to the severance benefits
described in paragraphs (a) and (d) of Article 3.

       

      ARTICLE
5

      RETENTION
BONUS

       

      If a
Participant remains employed by the Company or a Subsidiary throughout the
six-month period following a Change in Control, then six months after the date
of the Change in Control the Company shall pay to the Participant, in a single
cash payment, a retention bonus equal to one-half (1/2) of the Participant’s
Base Salary (without regard to whether the Participant is or ever will become
entitled to severance benefits under Article 3 hereof).

       

      ARTICLE
6

      CERTAIN
ADDITIONAL PAYMENTS BY THE COMPANY

       

      6.1           Gross-Up
Payment.  Notwithstanding anything in the Plan to the contrary
and except as set forth below, in the event that it is determined that any
Payment that is paid or payable to or for the benefit of a Participant would be
subject to the Excise Tax, the Participant shall be entitled to receive, and the
Company shall be required to pay, an additional payment (a “280G
Gross-Up Payment”) in an amount such that, after payment by the
Participant of all taxes (and any interest or penalties imposed with respect
thereto), including any income and employment taxes (and any interest and
penalties imposed with respect thereto) and Excise Taxes imposed upon the 280G
Gross-Up Payment, the Participant retains an amount of the 280G Gross-Up Payment
equal to the Excise Tax imposed upon the Payments.  The Company’s
obligation to make 280G Gross-Up Payments under this Article ‎6
shall not be conditioned upon a Participant’s termination of employment and
shall survive and apply after a Participant’s termination of
employment.

       

      6.2           Calculation
of Gross-Up Payment.  Subject to the provisions of Section
‎6.3,
all determinations required to be made under this Article ‎6,
including whether and when a 280G Gross-Up Payment is required, the amount of
any 280G Gross-Up Payment and the assumptions to be utilized in arriving at such
determinations, shall be made in accordance with the terms of this Article ‎6
by a nationally recognized certified public accounting firm that shall be
selected by the Company; provided, however, that in the event of any material
relationship between such accounting firm and a Participant that, in the
reasonable opinion of the Company, could pose a conflict of interest or
otherwise affect the accounting firm’s independent judgment, the Participant
shall select another independent accounting firm acceptable to the Company to
make such determinations with respect to the Participant (the “Accounting
Firm”).  The Accounting Firm shall submit its determination and
detailed supporting calculations to both the Company and the Participant within
15 business days of the receipt of notice from the Participant that there has
been a Payment or such earlier time as is requested by the Participant or the
Company.  For purposes of determining the amount of any 280G Gross-Up
Payment, each Participant shall be deemed to pay Federal income tax at the
highest marginal rate applicable to individuals in the calendar year in which
the 280G Gross-Up Payment is to be made and deemed to pay state and local income
taxes at the highest marginal rates applicable to individuals in the state or
locality of the Participant’s residence or place of employment in the calendar
year in which the 280G Gross-Up Payment is to be made, net of the maximum
reduction in Federal income taxes that can be obtained from deduction of state
and local taxes, taking into account limitations applicable to individuals
subject to Federal income tax at the highest marginal rate.  All fees
and expenses of the Accounting Firm shall be borne solely by the
Company.  Any 280G Gross-Up Payment, as determined pursuant to this
Article ‎6,
shall be paid by the Company to the applicable Participant within five business
days of the receipt of the Accounting Firm’s determination.  If the
Accounting Firm determines that no Excise Tax is payable by the Participant, it
shall so indicate to the Participant in writing.  Any determination by
the Accounting Firm shall be binding upon the Company and the
Participant.  As a result of the uncertainty in the application of the
Excise Tax, it is possible that the amount of the 280G Gross-Up Payment
determined by the Accounting Firm to be due to a Participant, consistent with
the calculations required to be made hereunder, shall be lower than the amount
actually due (an “Underpayment”).  In
the event that the Company exhausts its remedies pursuant to Section ‎6.3
and the Participant thereafter is required to make a payment of any Excise Tax,
the Accounting Firm shall determine the amount of the Underpayment that has
occurred and submit its determination and detailed supporting calculations to
both the Participant and the Company as promptly as possible, and any
Underpayment shall be paid by the Company to the Participant within five
business days of the receipt of the Accounting Firm’s determination and
calculations.

       

      6.3           Notice
of Claims.  A Participant shall notify the Company in writing
of any written claim by the Internal Revenue Service that, if successful, would
require the payment by the Company of a 280G Gross-Up Payment.  Such
notification shall be given as soon as practicable, but no later than 30 days
after the Participant is informed in writing of any claim.  Failure to
give timely notice shall not prejudice any Participant’s right to 280G Gross-Up
Payments and rights of indemnity under this Article ‎6,
unless, and solely to the extent that, the Company has been prejudiced in a
material respect by the failure.  The Participant shall advise the
Company of the nature of any claim and the date on which the claim is requested
to be paid.  No Participant shall pay a claim prior to the expiration
of the 30-day period following the date on which the Participant gives notice to
the Company (or such shorter period ending on the date that any payment of taxes
with respect to the claim is due).  If the Company notifies a
Participant in writing prior to the expiration of such period that the Company
wishes to contest the claim, the Participant shall (a) give the Company any
information reasonably requested by the Company relating to the claim, (b) take
such action in connection with contesting the claim as the Company reasonably
requests in writing from time to time, including accepting legal representation
with respect to the claim by an attorney reasonably selected by the Company, (c)
cooperate with the Company in good faith in order effectively to contest the
claim and (d) permit the Company to participate in any proceedings relating to
the claim; provided, however, that the Company shall bear and pay directly all
costs and expenses (including additional income taxes, interest and penalties)
incurred in connection with the contest, and shall indemnify and hold the
Participant harmless, on an after-tax basis, for any Excise Tax or income tax
(including interest or penalties) imposed as a result of such representation and
payment of costs and expenses.  Without limitation on the foregoing
provisions of this Section ‎6.3,
the Company shall control all proceedings taken in connection with the contest,
and, at its sole discretion, may pursue or forgo any and all administrative
appeals, proceedings, hearings and conferences with the applicable taxing
authority in respect of the claim and may, at its sole discretion, either direct
the Participant to pay the tax claimed and sue for a refund or contest the claim
in any permissible manner, and the Participant agrees to prosecute the contest
to a determination before any administrative tribunal, in a court of initial
jurisdiction and in one or more appellate courts, as the Company shall
determine; provided, however, that (x) if the Company directs the Participant to
pay the claim and sue for a refund, the Company shall advance the amount of the
payment to the Participant, on an interest-free basis, and shall indemnify and
hold the Participant harmless, on an after-tax basis, from any Excise Tax or
income tax (including interest or penalties) imposed with respect to the advance
or with respect to any imputed income in connection with the advance and (y) if
the contest results in any extension of the statute of limitations relating to
payment of taxes for the taxable year of the Participant with respect to which
the contested amount is claimed to be due, the extension must be limited solely
to the contested amount.  Furthermore, the Company’s control of the
contest shall be limited to issues with respect to which the 280G Gross-Up
Payment would be payable hereunder, and each Participant shall be entitled to
settle or contest, as the case may be, any other issue raised by the Internal
Revenue Service or any other taxing authority.

       

      6.4           Refunds.  If,
after the receipt by a Participant of an amount advanced by the Company pursuant
to Section ‎6‎.3,
the Participant becomes entitled to receive any refund with respect to the
related claim, the Participant shall (subject to the Company’s complying with
the requirements of Section ‎6‎.3)
promptly pay to the Company the amount of the refund received (together with any
interest paid or credited thereon after taxes applicable
thereto).  If, after the receipt by a Participant of an amount
advanced by the Company pursuant to Section ‎6.3,
a determination is made that the Participant will not be entitled to any refund
with respect to the claim and the Company does not notify the Participant in
writing of its intent to contest the denial of refund prior to the expiration of
the 30-day period after the determination, then the advance shall be forgiven
and shall not be required to be repaid and the amount of the advance shall
offset, to the extent thereof, the amount of 280G Gross-Up Payment required to
be paid.

       

      6.5           Payment
Deadline.  Notwithstanding any other provision of this Article
‎6
to the contrary, any 280G Gross-Up Payment, Underpayment or other payment or
reimbursement made pursuant to this Article ‎6
shall be paid or reimbursed no later than December 31st of the year following
the year in which the applicable taxes are remitted or, in the case of
reimbursement of expenses incurred due to a tax audit or litigation to which
there is no remittance of taxes, no later than the end of the year following the
year in which the audit is completed or there is a final and nonappealable
settlement or other resolution of the litigation in accordance with Treasury
Regulation Section 1.409A-3(i)(1)(v).

       

      ARTICLE
7

      UNFUNDED
ARRANGEMENT

       

      The plan
is unfunded, and all cash Benefits will be paid, as needed, from the general
assets of the Company.  The Plan is only a general corporate
commitment and each Participant must rely upon the general credit of the Company
for the fulfillment of its obligations hereunder.  Under all
circumstances the rights of Participants to any asset held by the Company will
be no greater than the rights expressed in this Plan.  Nothing
contained in this Plan shall constitute a guarantee by the Company that the
assets of the Company will be sufficient to pay any Benefits under this Plan or
would place the Participant in a secured position ahead of general creditors of
the Company; the Participants are only unsecured creditors of the Company with
respect to their Plan benefits, and the Plan constitutes a mere promise by the
Company to make Benefit payments in the future.  No specific assets of
the Company have been or shall be set aside, or shall in any way be transferred
to a trust or shall be pledged in any way for the performance of the Company’s
obligations under the Plan which would remove such assets from being subject to
the general creditors of the Company.

       

      ARTICLE
8

      ADMINISTRATION
OF THE PLAN

       

      The Plan
Administrator shall have the full power and authority to administer the Plan,
carry out its terms and conditions and effectuate its purposes.  The
Plan Administrator shall be the “named fiduciary,” as such term is defined in
ERISA, of the Plan, with responsibility for administration of the
Plan.

       

      The Plan
Administrator shall serve without compensation for its services as
such.  However, all reasonable expenses of the Plan Administrator
shall be paid or reimbursed by the Company upon proper
documentation.  The Plan Administrator shall be indemnified by the
Company against personal liability for actions taken in good faith in the
discharge of duties as the Plan Administrator.

       

      The Plan
Administrator shall keep all individual and group records relating to
participants and former participants and all other records necessary for the
proper operation of the Plan.  Such records shall be made available to
the Company and to each Participant for examination during business hours except
that a Participant shall examine only such records as pertain exclusively to the
examining Participant and to the Plan.  The Plan Administrator shall
prepare and shall file as required by law or regulation all reports, forms,
documents and other items required by ERISA, and every other relevant statute,
each as amended, and all regulations thereunder (except that the Company, as
payor of the Benefits, shall prepare and distribute to the proper recipients all
forms relating to withholding of income or wage taxes, Social Security taxes,
and other amounts which may be similarly reportable).

       

      ARTICLE
9

      AMENDMENT
OR TERMINATION

       

      The Board
reserves the right to amend or terminate the Plan at any time and in any manner
without the consent of any affected individual, provided that any amendment or
termination will not adversely affect the Benefits payable to a Participant
whose Employment Termination Date occurred prior to the date of such amendment
or termination.  The right to amend the Plan includes the right to
change the individuals who are eligible to participate in the Plan from time to
time.  Notwithstanding the foregoing, for a period of two years
following a Change in Control, the Plan may not be terminated, or amended in any
manner adverse to any eligible Participant without the written consent of each
affected Participant.

       

      ARTICLE
10

      CLAIMS
PROCEDURES

       

      10.1           Claim
for Benefits.  When a Benefit is due, a Claimant may submit a
claim for Benefits to the office designated by the Plan Administrator to receive
claims.  For purposes of this Article, “Claimant” means a Participant
or an authorized representative of a Participant who makes a claim for Benefits
under the Plan.

       

      10.2           Deadline
for Notifications of Claim Determinations.  If a Claimant’s
claim for Benefits under the Plan is denied in whole or in part, the Plan
Administrator will provide to the Claimant a written notice of the claim
decision within 90 days of receipt of the claim.  This 90-day period
may be extended one time by the Plan Administrator for up to 90 days, provided
that the Plan Administrator notifies the Claimant, prior to the expiration of
such 90-day period, of the circumstances requiring the extension of time and the
date by which the Plan Administrator expects to render a
decision.  Claims not acted upon within the time prescribed herein
shall be deemed denied for purposes of proceeding to the review
stage.

       

      10.3           Contents
of Notices of Claims Denials.  When a claim is denied (an
adverse determination) in full or in part, the Plan Administrator will provide
the Claimant a written or electronic notification of the denial within the time
frame specified in Section 9.1.  This notice will:

       

      (a)           explain
the specific reasons for the adverse determination;

       

      (b)           reference
the specific Plan provisions on which the adverse determination is
based;

       

      (c)           provide
a description of any additional material or information necessary for the
Claimant to complete the claim and an explanation of why such material or
information is necessary; and

       

      (d)           provide
a description of the Plan’s review procedures and the time limits applicable to
such procedures, including a statement of the Claimant’s right to bring a civil
action under Section 502(a) of ERISA following an adverse claims determination
on review.

       

      10.4           Appeals
of Denied Claims.  The Claimant will have 60 days after
receiving the notice that the Claimant’s claim is denied to appeal the adverse
determination in writing to the Plan Administrator. The Claimant may submit
written comments, documents, records, and other information relevant to the
claim, and such information will be taken into account during the review,
without regard to whether it was submitted or considered in the initial claim
determination.  In addition, the Claimant will be provided, upon
request and free of charge, reasonable access to and copies of all documents,
records, and other information relevant to the claim.

       

      If no
appeal of the adverse determination is made in writing to the Plan Administrator
within 60 days after the Claimant’s receipt of the notice of denial, the denial
of the claim is final.

       

      10.5           Deadlines
for Notifications of Appeals Determinations.  The Administrator
will notify the Claimant of its determination on review of an adverse claim
determination within a reasonable period of time, but not later than 60 days
from receipt of a request for review of the adverse
determination.  This 60-day period may be extended one time by the
Plan Administrator for up to 60 days, provided that the Plan Administrator
notifies the Claimant, prior to the expiration of such 60-day period, of the
circumstances requiring the extension of time and the date by which the Plan
Administrator expects to render a decision.

       

      10.6           Contents
of Notices of Final Claims Determinations.  Notice of the
Plan’s claims decision will be given in writing or electronically.  If
the Claimant’s claim is denied in whole or in part the notification will
include:

       

      (a)           the
specific reasons for the denial;

       

      (b)           reference
to the specific Plan provisions on which the decision was based;

       

      (c)           a
statement of the Claimant’s right to receive, upon request and free of charge,
reasonable access to and copies of all documents, records, and other information
relevant to the claim; and

       

      (d)           a
statement of the Claimant’s right to bring a civil action in court under section
502(a) of ERISA.

       

      ARTICLE
11

      MISCELLANEOUS

       

      11.1           Tax
Withholding.  The Company will calculate the deductions from
the amount of the benefit paid under the Plan for any taxes required to be
withheld by federal, state or local government and shall cause them to be
withheld.

       

      11.2           Plan
Not an Employment Contract.  The adoption and maintenance of
the Plan is not a contract between the Company and its employees which gives any
employee the right to be retained in its employment.  Likewise, it is
not intended to interfere with the rights of the Company to discharge any
employee at any time or to interfere with the employee’s right to terminate his
or her employment at any time.

       

      11.3           Alienation
Prohibited.  No benefits hereunder shall be subject to
anticipation or assignment by a Participant, to attachment by, interference
with, or control of any creditor of a Participant, or to being taken or reached
by any legal or equitable process in satisfaction of any debt or liability of a
Participant prior to its actual receipt by the Participant.  Any
attempted conveyance, transfer, assignment, mortgage, pledge, or encumbrance of
the benefits hereunder prior to payment thereof shall be void.

       

      11.4           Gender
and Number.  If the context requires it, words of one gender
when used in the Plan shall include the other genders, and words used in the
singular or plural shall include the other.

       

      11.5           Severability. If
any provision of the Plan is determined to be invalid or unenforceable, that
determination shall not affect the validity or enforceability of any other
provision.

       

      11.6           Successors.  The
Company shall not, directly or indirectly, consolidate with, merge into or sell
or otherwise transfer all or substantially all of its assets to, any person, or
permit any person to consolidate with or merge into the Company, unless
immediately after such consolidation, merger, sale or transfer, the Successor
shall have assumed in writing the Company’s obligations under the
Plan.

       

      11.7           Assignment;
Binding Effect.  This Plan shall be binding upon any
Successor.  The Company shall not assign any of its obligations under
the Plan unless (a) such assignment is to a Successor, and (b) the requirements
of Section 11.6 are fulfilled.

       

      11.8           Compliance
with Section 409A of the Code.  To the extent applicable, it is
intended that the Plan and any Benefits payable hereunder are exempt from
Section 409A of the Code or are structured in a manner that would not cause a
Participant to be subject to taxes and interest pursuant to Section 409A of the
Code.  The Plan shall be construed and interpreted in a manner
consistent with such intent.

       

      11.9           Governing
Law.  The provisions of the Plan shall be construed,
administered, and governed under the laws of the State of Texas and, to the
extent applicable, by the laws of the United States.

       

       

      
        
          	 	QUICKSILVER
      RESOURCES INC.	 
	 	 	 	 
	 	By:	/s/
      Thomas F. Darden	 
	 	 	Title:
      Chairman of the Board	 
	 	 	 	 

        

      

       

       

      
        
           

        

        
           

          
            
 

        

        
           

        

      

      Exhibit A

       

      
        QUICKSILVER
RESOURCES INC.

        AMENDED
AND RESTATED

        EXECUTIVE

        CHANGE
IN CONTROL RETENTION INCENTIVE PLAN

         

      

      RELEASE
AGREEMENT

       

      This
RELEASE
is executed by  (the “Employee”) in consideration of the severance
benefits provided under the Quicksilver Resources Inc. Amended and Restated
Executive Change in Control Retention Incentive Plan (the “Plan”), and as a
condition to the receipt of such benefits.  For purposes of this
Release, the term “Company” means Quicksilver Resources Inc. and any Successor
(as defined in the Plan).

       

      NOW
THEREFORE, the Employee provides the following
release:

       

      1.           Release
by Employee. I,
_____, on behalf of myself and my heirs and assigns, in consideration of the
Company’s payment of the severance benefits in the amount of $_____________
(less any amounts that the Company is required to withhold under applicable
laws) and the welfare benefits described in Section 3(d) of the Plan to be
furnished to me pursuant to the Plan, the sufficiency of which is hereby
acknowledged, and as a material inducement to the Company to enter into this
Release hereby release and forever discharge the Company, and its directors,
officers, shareholders, partners, representatives, agents, employees,
predecessors, successors, affiliates, divisions, subsidiaries and related
entities and their respective directors, officers, shareholders, agents,
representatives and employees, from all claims of any nature whatsoever waivable
by applicable law, from the beginning of time to the date of the execution of
this Release, known or unknown, suspected or unsuspected, including but not
limited to all claims arising out of, based upon, or relating to my employment
with the Company, or compensation for that employment.  I understand
that the consideration provided for in the Plan exceeds anything of value to
which I am already entitled without the Plan.

       

      Without
limiting the generality of the foregoing, I understand and agree that this
Release includes, but is not limited to, claims based on or relating
to:  (a) any express or implied employment contract; (b) wrongful
discharge; (c) termination in breach of public policy; (d) age discrimination
under the Age Discrimination in Employment Act of 1967, as amended;
(e) claims of discrimination, harassment or retaliation under Title VII of
the Civil Rights Act of 1964, as amended, the Americans with Disabilities Act,
or any other law which prohibits discrimination based on race, color, age,
ancestry, national origin, sex, sexual orientation, religion, mental or physical
disabilities, or marital status; (f) any other federal, state or local laws or
regulations prohibiting employment discrimination; (g) personal injury,
defamation, assault, battery, invasion of privacy, fraud, intentional or
negligent misrepresentation of fact, intentional or negligent infliction of
emotional distress, or false imprisonment; (h) claims for additional wages,
compensation, severance pay or bonuses; and (i) claims for attorneys’ fees or
costs.

       

      I
UNDERSTAND THAT THIS RELEASE COVERS BOTH CLAIMS THAT I KNOW ABOUT AND THOSE THAT
I MAY NOT KNOW ABOUT.

       

      2.           Additional
Issues Associated with Scope of Release.  I understand that I
am only waiving those claims that I have as of the date I sign this Release, and
not any claims that might arise in the future.  I also understand that
this Release does not release or discharge claims that are not waivable by
applicable law.  Also excluded from the scope of this Release are any
rights I have to any vested benefits under the Company’s benefit plans,
including but not limited to the Quicksilver Resources Inc. 401(k)
Plan.  Further, nothing in this Release prohibits me from filing a
charge with the EEOC or participating in an investigation or proceeding of the
EEOC.  However, I am waiving the right to any personal monetary
recovery or other personal relief should the EEOC or any other agency pursue
alleged charges in part or entirely on my behalf.

       

      3.           No
Knowledge of Legal Violations. I
further assert that during my employment with the Company and activities
regarding any company or organization affiliated with the Company, that I have
no information or knowledge of any legal irregularity, violation, or alleged
violation of any law, regulation, statute, or ordinance of any kind resulting
from the operations of the Company, or any other company or organization
affiliated with the Company.  I have never reported any such
irregularity or violation to any superior with respect to the Company or any
company or organization affiliated with the Company.

       

      4.           Advisement
to Consult with an Attorney and Forty-five (45) Day Review
Period.  I acknowledge that I am hereby advised in writing to
consult with an attorney prior to executing this Release to discuss the contents
of this document and its meaning.  I understand that I have forty-five
(45) days after receiving this Release to consider this waiver and release of my
rights.  I understand the terms and conditions of this Release in
full, agree to abide by this, and knowingly and voluntarily execute it without
hidden reservations.

       

      5.           Seven
(7) Day Revocation Period. I
understand that I will have seven (7) days after I sign this Release during
which I can revoke my signature and cancel my acceptance of the benefits under
the Plan for any reason, and that this Release shall not become effective or
enforceable until after this revocation period has expired.  I
understand that I may revoke or rescind this Release by providing written notice
of revocation to the Company’s General Counsel,  [name, address, fax
number], within the 7-day revocation period.  I understand that I will
not be entitled to any severance benefits under the Plan until the end of the
7-day revocation period.

       

      6.           Receipt
of Disclosures.  I acknowledge that I have received the
Disclosures that are attached to this Release as Exhibit 1.

       

      7.           Governing
Law.  The provisions of the Plan and this Release shall be
construed, administered and governed under the laws of the State of Texas and,
to the extent applicable, the laws of the United States.

       

      [8.           Continuing
Obligations After Separation from Employment.  I
agree that before and after my separation from employment, I will continue to
abide by any Company policies and procedures relating to confidentiality,
inventions, non-disclosure and/or other employment obligations that survive the
termination of my employment.  I agree that I will continue to be
bound by all post-employment obligations as required by the Company’s policies
and procedures or as required in any other written agreement between myself and
the Company.  I agree that the Plan and this Release do not affect or
diminish in any manner any of my post-employment obligations to the Company,
including, but not limited to, those specifically described within this
Release.]1

       

      [9.           Entire
Agreement. I
understand that the Plan and this Release contain the entire agreement and
understanding between me and the Company regarding my employment and separation
from that employment and that no other covenants or promises have been made
except those contained in the Plan and this Release.  The Plan and
this document supersede all other agreements and arrangements between the
Company and me, whether written or oral.]2

       

      10.           Attorneys’
Fees. I
further agree I am fully responsible for any attorneys’ fees incurred by me in
consulting with an attorney of my choice in connection with my review or
execution of this document.

       

      11.           Severability. I
agree that should any court or arbitrator determine that any clause, sentence,
provision, paragraph, or part of this Release is illegal, invalid, or
unenforceable, that court’s or arbitrator’s determination shall not affect,
impair, or invalidate the remainder of the Release, and the remainder of the
Release will remain in full force and effect.

       

      12.           Headings. I
understand that all headings used in this Release are intended for convenience
and reference only and do not in any manner amplify, limit, modify or amend the
Release.  A court or arbitrator shall not use any headings in the
construction or interpretation of any section of the Release.

      
         

        EXECUTED
in multiple originals this     day of ____,
________.

         

        
          
            	 	Signature of
      Employee	 
	 	 	 
	 	 	 
	 	WITNESS 	 

          

        

         

        NON-REVOCATION
STATEMENT

         

        I, _______________, acknowledge that at least seven (7)
days have expired since the execution of the Release Agreement by me on the
_____ day of _____, _____, and I knowingly and voluntarily elect not to revoke
this waiver and release of my rights under the Age Discrimination in Employment
Act, as amended, 29 U.S.C. § 621 et
seq.

         

        EXECUTED
in multiple originals this  day of ____, ________.

         

        
          
            
              	 	Signature of
      Employee	 
	 	 	 

            

          

           

          
            
 

        

      

      
        1
Note:  This provision should refer to any post-employment obligations
by specific policy name or agreement name, where applicable.  Seek
guidance from legal department.

      

        

        2
Note:  Before using this form, managers must first consider whether
any of the individuals who are asked to sign this agreement have any other
contracts or written agreements with the Company.  In such a case, it
is imperative that you seek guidance from the legal
department.

         

      

      
        
          
             

          

          
             

            
              
 

          

          
             

          

        

        Exhibit 1

         

      

      45-DAY
WAIVER

       

      DISCLOSURES

       

      Covered
Class of Employees, Eligibility and Time
Limits.

       

      The
individuals selected to participate in the Plan are those employees of
___________ (Company) who incur Involuntary Terminations as defined in the
Quicksilver Resources Inc. Amended and Restated Executive Change in Control
Retention Incentive Plan (the “Plan”).  This program will end on the
date of _________.

       

      Eligible
Employees.

       

      The
following is a list of the job titles and ages of all employees who are
eligible to
participate in the Plan:

       

       

      
        	 	
                Job
      Title

              	 	
                Age

              	 
	 	
                Hourly

              	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

      

       

      Employees
Not Eligible.

       

      The
following is a list of the ages of employees who are not eligible to participate
in the Plan:

       

      
         

        
          	 	
                  Job
      Title

                	 	
                  Age

                	 
	 	
                  Hourly

                	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

        

         

      

      
        
           

        

        
           

          
            
 

        

        
           

        

      

      Exhibit B

       

      
        QUICKSILVER
RESOURCES INC.

        AMENDED
AND RESTATED

        EXECUTIVE

        CHANGE
IN CONTROL RETENTION INCENTIVE PLAN

      

       

      List
of Executives of Quicksilver Resources Inc.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00150-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00150-of-00352.parquet"}]]