Document:

EX-10.2

 EXHIBIT 10.2 

EXECUTIVE EMPLOYMENT AGREEMENT 

THIS EXECUTIVE EMPLOYMENT AGREEMENT (this “Agreement”) is
made and entered into effective as of March 1, 2019 (the “Effective Date”), by and between Montage Resources Corporation, formerly known as Eclipse Resources Corporation (the “Company”), and Michael Hodges
(“Executive”). 
 WHEREAS, the parties have determined it to be in their respective best interests to enter into
this Agreement. 
 NOW, THEREFORE, in consideration of the mutual premises, covenants and agreements herein contained, intending to
be legally bound, the parties agree as follows: 
 1.    Employment. From and after the Effective Date, the
Company will continue to employ Executive as its Executive Vice President and Chief Financial Officer, and Executive will report to the Chief Executive Officer of the Company. Executive will perform all services and acts necessary to fulfill the
duties and responsibilities of his position and agrees to devote his full business time, attention and energies to the performance of the duties assigned hereunder, and to perform such duties diligently, faithfully and to the best of his abilities.
Executive agrees to refrain from any activity that does, will or could reasonably be deemed to conflict with the best interests of the Company, unless such activity is approved in advance by the Chief Executive Officer of the Company.
Executive’s principal place of employment shall be at the Company’s principal executive offices in Irving, Texas (or at such other location in the Dallas, Texas area which constitutes the Company’s principal executive offices), and
Executive shall be furnished with an individual office at such location; provided, however, Executive acknowledges and agrees that he will be required to travel in the course of performing his duties hereunder. 

2.    Term. The Company agrees to employ Executive, and Executive agrees to be employed by the Company, for a
period (the “Initial Term”) commencing on the Effective Date and ending on the third (3rd) anniversary of the Effective Date, unless earlier terminated in accordance with
Section 4. If neither party gives the other at least ninety (90) days written notice that it intends for this Agreement to terminate at the end of the Initial Term, then this Agreement will continue for successive one-year terms (each a “Renewal Term”), unless earlier terminated in accordance with Section 4, until either party gives the other party at least ninety (90) days written notice that it
intends for this Agreement to terminate at the end of any then-existing Renewal Term. The term that Executive is employed hereunder will constitute the “Term”. If either Executive or the Company gives timely notice of termination
pursuant to this Section 2, then Executive’s employment shall end on the last day of the then-existing Initial Term or Renewal Term, as applicable. A termination of Executive’s employment by reason of a timely notice of termination
pursuant to this Section 2 shall not be considered a termination for Cause or without Cause by the Company, or a termination for Good Reason or without Good Reason by Executive. 

 3.    Compensation and Benefits. 

(a)    Base Salary. Executive will receive a base salary at an annualized rate of Four
Hundred Thousand Dollars ($400,000.00) (“Base Salary”), paid in accordance with the normal payroll practices of the Company in effect from time to time, but no less frequently than monthly. The Base Salary shall be reviewed
periodically by the Board (or a designated committee thereof) and may be increased from time to time in its discretion but not decreased below the amount of Base Salary, as may be increased, without Executive’s written consent. 

(b)    Bonus. Executive will be eligible for a discretionary annual bonus (“Annual
Bonus”) for each calendar year, commencing with the calendar year 2019, in which an annual cash performance bonus program is in effect, which Annual Bonus shall be subject to the terms of the applicable bonus program. Each Annual Bonus
shall be payable based on the achievement of reasonable performance targets established by the Board, and for each calendar year Executive’s target Annual Bonus shall be equal to eighty-five percent (85%) of Executive’s Base Salary in
effect on the last day of the applicable calendar year; provided, that the percentage of Executive’s Base Salary that applies for the purposes of determining Executive’s target Annual Bonus for a given year may be increased above
eighty-five percent (85%) (but not decreased without the Executive’s written consent) by the Board (or a designated committee thereof) in its discretion. Executive’s Annual Bonus, if any, will be paid no later than March 15 of the
year following the calendar year to which it relates. 
 (c)    Long-Term Incentive Compensation.
Executive may, as determined by the Board (or a designated committee thereof) in its sole discretion, periodically receive grants of stock options or other equity or non-equity related awards pursuant to the
Company’s or an affiliate’s long-term incentive plan(s), subject to the terms and conditions of such plan(s) and the applicable award agreement(s) thereunder. 

(d)    Retirement and Welfare Benefits; D&O Insurance. During the Term, Executive or
Executive’s spouse and dependents, as the case may be, will be eligible to participate in such pension and similar benefit plans (qualified, non-qualified and supplemental), profit sharing, 401(k),
medical and dental, disability, group or executive life, accidental death and travel accident insurance, and similar benefit plans and programs of the Company, subject to the terms and conditions thereof, as may be in effect and made available from
time to time to the Company’s senior executives. During the Term, the Company shall provide Executive with coverage under the Company’s D&O insurance policy or policies as may be in effect, to the same extent as its other senior
executives. Upon the termination of Executive’s employment with the Company for any reason, the Company shall, at its sole cost and expense, maintain D&O insurance coverage for Executive for the three (3)-year period following such
termination on terms that are substantially the same as for the Company’s then-current senior executives, if so provided for such senior executives; provided, however, that if the cost of such continued D&O insurance coverage will exceed
100% of the cost of such coverage immediately prior to the Termination Date (the “Pre-Termination Cost”), the Company will secure the greatest level of coverage possible at a cost that does
not exceed 100% of the Pre-Termination Cost. 

  
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 (e)    Perquisites. Executive will be entitled to
participate in the Company’s perquisite programs, as such are made generally available to the Company’s senior executives, subject to the terms of such programs. 

(f)    Business Expenses. The Company will reimburse Executive for all ordinary and necessary
business expenses incurred by him in connection with his employment upon timely submission by Executive of receipts and other documentation in conformance with the Company’s normal procedures. All payments for reimbursement under this
Section 3(f) will be paid promptly to Executive. 
 (g)    Paid Time Off. Executive will be
entitled to paid time off (“PTO”) in accordance with the policies and practices of the Company as in effect from time to time with respect to the Company’s senior executives, including any unused PTO that will be paid upon a
termination of employment. For calendar year 2019, Executive will be entitled to PTO in an amount calculated as if Executive had been employed by the Company beginning on January 1, 2019. 

4.    Termination. This Agreement will continue in effect until the expiration or end of the Term, and
Executive’s employment hereunder may be terminated prior to the end of the Initial Term or any then-existing Renewal Term pursuant to this Section 4. 

(a)    Disability. If Executive incurs a Disability, the Company may terminate Executive’s
employment effective on the thirtieth (30th) day after Executive’s receipt of written notice of the Company’s intent to terminate Executive’s employment for such Disability.

 (b)    By the Company, with or without Cause. The Company may terminate the Executive’s
employment at any time for Cause or without Cause. For purposes of this Agreement, a termination “without Cause” means Executive’s termination of employment during the Initial Term or a then-existing Renewal Term at the Company’s
sole discretion for any reason other than a termination for Cause or as a result of Executive’s death or Disability. 

(c)    By Executive, with or without Good Reason. The Executive’s employment may be terminated
during the Initial Term or a then-existing Renewal Term by Executive for Good Reason or without Good Reason; provided, however, that Executive may not terminate his employment for Good Reason unless (i) Executive has given the Company written
notice of his belief that Good Reason exists within thirty (30) days of the initial existence of the condition(s) giving rise to Good Reason, which notice will specify in reasonable detail the facts and circumstances giving rise to Good Reason,
(ii) the Company has not remedied such facts and circumstances giving rise to Good Reason within the thirty (30)-day period following the receipt of such notice and (iii) Executive separates from
service on or before the sixtieth (60th) day after the end of such thirty (30)-day cure period by delivering the Notice of Termination. 

  
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 (d)    Notice of Termination. Any termination by
the Company for Cause or without Cause or because of Executive’s Disability, or by Executive for Good Reason or without Good Reason, must be communicated by Notice of Termination to the other party. 

5.    Obligations of the Company upon Termination. 

(a)    For Cause; Without Good Reason; Expiration of Initial Term or Renewal Term. If the Company
terminates Executive’s employment for Cause, Executive terminates his employment without Good Reason, or the Initial Term or a Renewal Term expires by reason of timely notice given by either party pursuant to Section 2, the Company will
have no further obligations to Executive or his legal representatives, except that Executive (or his legal representatives, as the case may be) will be entitled to any (i) earned but unpaid Base Salary accrued up to the end of the Term,
(ii) benefits or compensation as provided under the terms of any employee benefit and compensation agreements or plans applicable to Executive, including benefits as provided for under the provisions of the last sentence of Section 3(d)
and payment for any unused PTO if required by Section 3(g), (iii) unreimbursed business expenses required to be reimbursed to Executive, (iv) if the Term expires by reason of timely notice given by either party pursuant to
Section 2, any earned and accrued, but unpaid, Annual Bonus (if earned pursuant to the terms of the applicable cash performance bonus program) for any completed calendar year prior to the calendar year in which the Term expires, (v) rights
Executive may have to D&O insurance, indemnification, defense and reimbursement or payment of expenses under the Company’s Certificate of Incorporation and Bylaws, the Agreement and Plan of Merger among Eclipse Resources Corporation,
Everest Merger Sub Inc. and Blue Ridge Mountain Resources, Inc., dated as of August 25, 2018 (the “Eclipse Merger Agreement”), including under Section 6.10(e) thereof, or any Company merger agreement or Company
indemnification agreement and under applicable law, and (vi) rights of Executive under Sections 7(f) and 16 (together, the “Continuing Obligations”). 

(b)    Death or Disability. If Executive’s employment is terminated by reason of
Executive’s death or Disability, the Company will have no further obligations to Executive or Executive’s legal representatives, except that Executive (or his legal representatives, as the case may be) will be entitled to the Continuing
Obligations and (subject to the terms of Section 5(e)), the following: 
 (i)    Severance
Payment. The Company will pay Executive (or his legal representatives, as the case may be) an amount equal to one (1) times Executive’s Base Salary as of the Termination Date, which amount will be paid in a lump sum payment on the
earlier to occur of: (A) the Company’s first payroll date that comes on or after the date that is sixty (60) days after the Termination Date, or (B) the fifth (5th) business
day after the expiration of such sixty (60)-day period. 

  
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 (ii)    Post-Employment Health Coverage. During
the portion, if any, of the 18-month period following the Termination Date that Executive elects (or, in the case of Executive’s death or Disability, Executive’s spouse or Executive’s eligible
dependents timely elect) to continue coverage in accordance with the requirements of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), the Company will promptly reimburse Executive, Executive’s
spouse or Executive’s eligible dependents, as applicable, on a monthly basis for the amount paid to effect and continue such coverage (the “COBRA Reimbursement Amounts”); provided, however, that payment of the COBRA
Reimbursement Amounts will cease immediately upon the date that Executive begins providing services to a subsequent employer (and any such provision of services shall be promptly reported to the Company by Executive); and provided, further, that the
election of COBRA continuation coverage and the payment of any premiums due with respect to such COBRA continuation coverage shall remain the sole responsibility of Executive or Executive’s spouse or eligible dependents, as applicable, and the
Company shall not assume any obligation for payment of any such premiums relating to such COBRA continuation coverage. Nothing contained herein is intended to limit or otherwise restrict any rights to continued group health plan coverage pursuant to
COBRA following the period described in the preceding sentence. 
 (c)    Termination without Cause or
for Good Reason. If Executive’s employment is terminated by the Company without Cause or by Executive for Good Reason, the Company will have no further obligations to Executive or Executive’s legal representatives, except that
Executive will be entitled to the Continuing Obligations and (subject to the terms of Section 5(e)) the following: 

(i)    Severance Payment. If Executive’s employment terminates prior to a Change of Control or
after the date that is twelve (12) months after a Change of Control, then the Company will pay Executive an amount equal to 1.75 times the sum of (A) Executive’s Base Salary as of the Termination Date, and (B) an amount
equal to Executive’s target Annual Bonus for the fiscal year that includes the Termination Date, which amount will be paid in a lump sum payment on the earlier to occur of: (1) the Company’s first payroll date that comes on or after
the date that is sixty (60) days after the Termination Date, or (2) the fifth (5th) business day after the expiration of such sixty (60)-day
period. If Executive’s employment terminates on the date of a Change in Control or within twelve (12) months after a Change of Control, then the Company will pay Executive an amount equal to 2.0 times the sum of
(A) Executive’s Base Salary as of the Termination Date, and (B) an amount equal to Executive’s target Annual Bonus for the fiscal year that includes the Termination Date, which amount will be paid in a lump sum payment on the
earlier to occur of: (1) the Company’s first payroll date that comes on or after the date that is sixty (60) days after the Termination Date, or (2) the fifth (5th) business
day after the expiration of such sixty (60)-day period. 

(ii)    Post-Employment Health Coverage. During the portion, if any, of the 18-month period following the Termination Date (the “COBRA Reimbursement Period”) that Executive elects to continue coverage for Executive, Executive’s spouse and/or Executive’s eligible
dependents under the Company’s group health plans under COBRA, the Company will promptly reimburse 

  
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Executive on a monthly basis for the COBRA Reimbursement Amounts; provided, however, that payment of the COBRA Reimbursement Amounts will cease immediately upon the date that Executive begins
providing services to a subsequent employer (and any such provision of services shall be promptly reported to the Company by Executive); and provided, further, that the election of COBRA continuation coverage and the payment of any premiums due with
respect to such COBRA continuation coverage shall remain the sole responsibility of Executive, and the Company shall not assume any obligation for payment of any such premiums relating to such COBRA continuation coverage. If Executive has elected to
continue coverage for his spouse and/or eligible dependents and dies while he is receiving payment of the COBRA Reimbursement Amounts, his spouse and/or eligible dependents will continue to receive coverage and payment of the COBRA Reimbursement
Amounts during the remainder, if any, of the COBRA Reimbursement Period, subject to his spouse’s and/or eligible dependent’s compliance with the terms of this Agreement, as applicable. Nothing contained herein is intended to limit or
otherwise restrict any rights to continued group health plan coverage pursuant to COBRA following the COBRA Reimbursement Period, including, for the avoidance of doubt, the ability of Executive’s spouse and/or eligible dependents to elect to
continue COBRA coverage if Executive dies or becomes incapacitated as a result of disability following termination of employment. 

(iii)    Pro Rata Annual Bonus. The Company will pay Executive an amount equal to the Annual Bonus
for the calendar year in which occurs the Termination Date, as determined in good faith by the Board in accordance with the performance criteria established for such Annual Bonus and based on the Company’s actual performance for such calendar
year, which amount will be prorated through and including the Termination Date (based on the ratio of the number of days Executive was employed by the Company during such year to the number of days in such year). This amount will be payable in a
lump sum on or before the date on which annual bonuses for the calendar year are paid to executives who have continued employment with the Company (but in no event earlier than sixty (60) days after the Termination Date or later than the
March 15 next following such calendar year). 
 (d)    Equity Awards. There shall be
no acceleration of the vesting of any equity or long-term incentive awards granted to Executive under any Company long-term incentive plan, unless otherwise provided under the terms of the applicable long-term incentive plan or award agreement. 

(e)    Release and Compliance with this Agreement. With the exception of the Continuing Obligations,
the obligation of the Company to pay any portion of the amounts due pursuant to Section 5(b) and Section 5(c) is expressly conditioned on Executive’s (i) timely execution and return to the Company by the Release Expiration Date
(as defined below) of a release substantially in the form attached hereto as Exhibit A (the “Release”), which form for execution will be provided by the Company to Executive (or a representative of his estate, as applicable)
within seven (7) days after the Termination Date, (ii) not exercising Executive’s revocation right as set forth in the 

  
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Release, and (iii) compliance with the requirements of Sections 6 and 7. The Release shall be revised by the Company to reflect whether payments and benefits are to be provided under
Section 5(b) or 5(c) and shall be revised by the Company as reflected in footnote 1 of the Release to the extent the terms of such footnote are applicable, and may also be revised by the Company to reflect changes in applicable law. The
“Release Expiration Date” is that date that is twenty-one (21) days following the date upon which the Company delivers the execution form of Release to Executive (or, following
Executive’s death, to a representative of Executive’s estate) or, in the event that such termination of employment is “in connection with an exit incentive or other employment termination program” (as such phrase is defined in
the Age Discrimination in Employment Act of 1967, as amended), the date that is forty-five (45) days following such delivery date. For the avoidance of doubt, in the case of a termination of Executive’s employment due to Executive’s
death, or in the event of Executive’s death or disability after the termination of his employment, the legal representative(s) of Executive (or his estate, as applicable) may execute and revoke (or not revoke) the Release in the name of and for
and on behalf of Executive, Executive’s estate and, as applicable, for themselves in accordance with and as permitted by the terms of this Section 5(e), the second sentence of Section 10 and the Release. 

(f)    Non-duplication of Benefits; No Mitigation. It is
possible that a category of payment or benefit that is paid or provided under this Section 5 would also be paid or provided under the terms of another Company severance or change in control plan, program, or arrangement. In such case,
(i) the payment or benefit under the terms of another Company severance or change in control plan, program, or arrangement will be paid or provided in full, and (ii) the Company’s obligation under this Section 5 will
automatically be reduced (but not below zero) to the extent and only to the extent of the payment or benefit provided under clause (i). Executive shall not be required to mitigate damages, including by seeking other employment, in order to receive
the payments and benefits under this Section 5. Nor shall any amount owed to Executive under this Section 5 be subject to reduction for amounts actually earned in subsequent employment. 

6.    Confidential Information. 

(a) Executive acknowledges that the Company has trade, business and financial secrets and other confidential or proprietary
information (collectively, the “Confidential Information”), and that Confidential Information will be provided by the Company to Executive during Executive’s employment by the Company. Confidential information includes all
trade secrets and also includes, but is not limited to, all non-public information regarding the Company’s or any of its affiliates’ businesses, products, or services (including without limitation,
all such information relating to corporate opportunities, strategies, business plans, product specifications, compositions, manufacturing and distribution methods and processes, research, financial and sales data, pricing terms, evaluations,
opinions, interpretations, acquisition prospects, the identity of customers or their requirements, the identity of key contacts within the customers’ organizations or within the organization of acquisition prospects, or production, marketing,
and merchandising techniques, prospective names and marks), and all writings or materials of 

  
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any type embodying any of such information, ideas, concepts, improvements, discoveries, inventions, and other similar forms of expression. Notwithstanding the foregoing, Confidential Information
does not include any information that (i) is generally known in the oil and gas industry, (ii) was known by Executive prior to his employment with Blue Ridge Mountain Resources, Inc. or any of its predecessors or affiliates or
(iii) has been published in a form generally available to the public before the date Executive proposes to disclose or use such information, provided, that, such publishing of the Confidential Information does not result from Executive directly
or indirectly breaching Executive’s obligations under this Section 6(a) or any other similar provision by which Executive is bound, or from any third party breaching a provision similar to that found under this Section 6(a). 

(b)    Executive acknowledges that Confidential Information has been developed or acquired by the Company
through the expenditure of substantial time, effort and money and provides the Company with an advantage over competitors who do not know or use such Confidential Information. Executive acknowledges that all Confidential Information is the sole and
exclusive property of the Company. 
 (c)    During, and all times following, Executive’s employment
by the Company, Executive will hold in confidence and not directly or indirectly disclose or use or copy or make lists of any Confidential Information except: (i) to the extent authorized in writing by the Chief Executive Officer of the
Company; (ii) where such information is, at the time of disclosure by Executive, generally available to the public other than as a result of any direct or indirect act or omission of Executive in breach of this Agreement; or (iii) where
Executive is compelled by legal process, other than to an employee of the Company or a person to whom disclosure is reasonably necessary or appropriate in connection with the performance by Executive of his duties as an employee of the Company.
Executive agrees to use reasonable efforts to give the Company notice of any and all attempts to compel disclosure of any Confidential Information, in such a manner so as to provide the Company with written notice at least five (5) days before
disclosure or within one (1) business day after Executive is informed that such disclosure is being or will be compelled, whichever is earlier. Such written notice must include a description of the information to be disclosed, the court,
government agency, or other forum through which the disclosure is sought, and the date by which the information is to be disclosed, and must contain a copy of the subpoena, order or other process used to compel disclosure. 

(d)    During the Term, Executive will take those necessary precautions, consistent with the Company’s
policies applicable to its senior executives for the protection of Confidential Information, to prevent disclosure of Confidential Information to any unauthorized individual or entity. At all times following the Termination Date, Executive will
continue to take all necessary precautions for the protection of Confidential Information in compliance with the Company’s policies in effect for senior executives as of the Termination Date. Executive further agrees not to use, whether
directly or indirectly, any Confidential Information for the benefit of any person, business, corporation, partnership or any other entity other than the Company and its affiliates, and to immediately return to the Company all Confidential
Information and all copies thereof, in whatever tangible form or medium, including electronic, at the end of his employment with the Company for any reason or at the written request of the Company at any time. 

  
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 (e)    The parties specifically acknowledge that section
18 U.S.C. § 1833(b) provides that an individual shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that (i) is made (A) in confidence to a federal,
state, or local government official, either directly or indirectly, or to an attorney, and (B) solely for the purpose of reporting or investigating a suspected violation of law; or (ii) is made in a complaint or other document filed in a
lawsuit or other proceeding, if such filing is made under seal. Nothing in this Agreement is intended to conflict with 18 U.S.C. § 1833(b) or create liability for disclosures of trade secrets that are expressly allowed by
18 U.S.C. § 1833(b). Accordingly, notwithstanding anything to the contrary in the foregoing, the parties to this Agreement have the right to disclose in confidence trade secrets to federal, state, and local government officials, or to
an attorney, for the sole purpose of reporting or investigating a suspected violation of law. 

7.    Competition. Executive acknowledges that the Company agrees to provide or continue to provide Executive with
Confidential Information and access to its confidential, proprietary or trade secret information. Ancillary to the rights provided to Executive as set forth in this Agreement, the Company’s provision of confidential, proprietary or trade secret
information, and Executive’s agreements regarding the use of same, in order to protect the Company’s legitimate business interests, including the protection of its goodwill and Confidential Information, the Company and Executive agree to
the following provisions against unfair competition, which Executive acknowledges represent a fair balance of the Company’s rights to protect its business and Executive’s right to pursue employment: 

(a)    Without the prior written consent of the Company, which consent may be withheld in the discretion of
the Company, Executive will not, at any time during the Restriction Period (as defined below), directly or indirectly, engage in, have any equity interest in, interview for a potential employment or consulting relationship with, or manage or
operate, any person, firm, corporation, partnership or business (whether as director, officer, employee, agent, representative, partner, security holder, consultant or otherwise) that engages in any business which competes with the Business (as
defined below) of the Company within six (6) miles of (i) any oil or natural gas assets of the Company or (ii) any potential oil or natural gas assets where the Company has taken material steps to lease or purchase real property or
other interests with respect to such potential assets within the twelve (12)-month period immediately prior to the Termination Date. Nothing herein prohibits Executive from being a passive owner of not more than 2.5% of the outstanding equity
interest in any entity that is publicly traded, so long as Executive has no active participation in the business of such entity. 

(b)    Executive will not, at any time during the Restriction Period, directly or indirectly, either for
Executive or for any other person or entity, (i) solicit any employee or consultant of the Company to terminate his or her employment or engagement with the Company, or (ii) solicit or service any person who was a customer, supplier,
licensee, licensor or other business relation of the Company in order to induce or attempt to induce such person to cease doing business with, or reduce the amount of business conducted with, the Company, or in any way intentionally interfere with
the relationship between any such customer, supplier, licensee, licensor or other business relation of the Company. Nothing herein shall apply to any general solicitation for employment that is not targeted specifically to any of the Company’s
employees. 

  
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 (c)     The parties expressly agree that the terms of
this Section 7 are reasonable in all respects. However, in the event any of the terms of this Section 7 are determined by any court of competent jurisdiction to be unenforceable by reason of its extending for too great a period
of time or over too great a geographical area or by reason of its being too extensive in any other respect, it will be interpreted to, and may be modified by a court of competent jurisdiction to, extend only over the maximum period of time for which
it may be enforceable, over the maximum geographical area as to which it may be enforceable or to the maximum extent in all other respects as to which it may be enforceable, all as determined by such court in such action. 

(d)    As used in this Section 7, (i) the term “Company” includes the
Company and its affiliates; (ii) the term “Business” means the business of the Company and includes the acquisition, exploration, exploitation and development of oil and natural gas assets, and the acquisition of leases and
other real property in connection therewith, as such business may be expanded or altered by the Company during the Term; and (iii) the term “Restriction Period” means (A) in the case of Section 7(a), (I) upon the
termination of Executive’s employment by the Company without Cause, a termination by Executive of his employment for Good Reason or upon the expiration of the Initial Term or a Renewal Term as the result of the issuance of a notice of non-renewal by the Company pursuant to Section 2 the period beginning on the applicable Termination Date and ending on the date that is six (6) months following such Termination Date and (II) upon the
termination of Executive’s employment by the Company for Cause, a termination by Executive of his employment without Good Reason or upon the expiration of the Initial Term or a Renewal Term as the result of the issuance of a notice of non-renewal by Executive pursuant to Section 2, the period beginning on the applicable Termination Date and ending on the date that is twelve (12) months following the Termination Date, and (B) in the
case of Section 7(b), the period beginning on the Termination Date and ending on the date that is twelve (12) months following the Termination Date. 

(e)    Executive agrees, during the Term and following the Termination Date, to refrain from disparaging
the Company, including any Company services, technologies or practices, or any Company directors, officers, agents, representatives or stockholders, either orally or in writing. Nothing in this Section 7(e) precludes Executive from making
truthful statements that are reasonably necessary to comply with applicable law, regulation or legal process. 

(f)    Montage Resources Corporation (on behalf of itself and its subsidiaries) agrees, during the Term and
following the Termination Date, to cause its (and its subsidiaries’) directors, officers and human resources representatives to refrain from disparaging Executive, including any of Executive’s services or practices, either orally or in
writing. Nothing in this Section 7(f) precludes the Company or any Company directors, officers or human resources representatives from making truthful statements that are reasonably necessary to comply with applicable law, regulation or
legal process. 

  
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 (g)    In the event Executive engages in conduct in
violation of his covenants in Section 7(a) or (b), the Restriction Period applicable to such Section in respect of which such covenants were so violated will be extended for a period of time equal to the time in which Executive engaged in
competitive activity prohibited by such Section. 
 8.    Injunctive Relief. It is recognized and acknowledged by
Executive that a breach of the covenants contained in Sections 6 and 7 will cause irreparable damage to Company and its goodwill, the exact amount of which will be difficult or impossible to ascertain, and that the remedies at law for any such
breach will be inadequate. Accordingly, Executive agrees that in the event of a breach of any of the covenants contained in Section 6 or 7, in addition to any other remedy which may be available at law or in equity, the Company will be entitled
to specific performance and injunctive relief without the need to post bond. 
 9.    Protected Communications.
Nothing in this Agreement is intended to, or will be used in any way to, limit Executive’s rights to communicate with the Securities and Exchange Commission (the “SEC”) or any other governmental agency, as provided for,
protected under or warranted by applicable law, including, but not limited to, Section 21F of the Securities Exchange Act of 1934, as amended, and SEC Rule 21F-7 (the “Protected
Communications”). Nothing in this Agreement requires Executive to notify, or obtain permission from, the Company before engaging in any Protected Communications. 

10.    Assignment and Successors. The Company may assign its rights and obligations under this Agreement to any
successor to all or substantially all of the business or assets of the Company (by merger or otherwise), and may assign or encumber this Agreement and its rights hereunder as security for indebtedness of the Company and its affiliates. This
Agreement is binding upon and inures to the benefit of the Company, Executive and their respective successors, assigns, personal and legal representatives, executors, administrators, heirs, distributees, devisees, and legatees, as applicable. None
of Executive’s rights or obligations may be assigned or transferred by Executive, other than Executive’s rights to payments hereunder, which may be transferred only by will or operation of law. 

11.    Section 409A. The amounts payable pursuant to this Agreement are intended to be exempt from section 409A of
the Code and related U.S. treasury regulations or official pronouncements (“Section 409A”) and will be construed in a manner that is compliant with such exemption; provided, however, if and to the extent that any
compensation payable under this Agreement is determined to be subject to Section 409A, this Agreement will be construed in a manner that will comply with Section 409A, and provided further, however, that no person connected with this
Agreement in any capacity, including but not limited to the Company and its affiliates, and their respective directors, officers, agents and employees, makes any representation, commitment or guarantee that any tax treatment, including but not
limited to, federal, state and local income, estate and gift tax treatment, will be applicable with respect to any amounts payable or benefits provided under this Agreement. Notwithstanding any provision to the contrary in this Agreement, if
Executive is deemed on the Termination Date or expiration of the Term to be a “specified employee” within the meaning of Section 409A, then any payments and benefits under this Agreement that are subject to Section 409A and paid
by reason of a termination of employment 

  
 - 11 - 

 
will be made or provided on the later of (a) the payment date set forth in this Agreement or (b) the date that is the earliest of (i) the expiration of the six-month period measured from the Termination Date or expiration of the Term, or (ii) the date of Executive’s death (the “Delay Period”). Payments and benefits subject to the Delay Period
will be paid or provided to Executive without interest for such delay. The terms “termination of employment” and “separate from service” as used throughout this Agreement refer to a “separation from service” within the
meaning of Section 409A. Any payments under this Agreement that may be excluded from Section 409A either as separation pay due to an involuntary separation from service or as a short-term deferral shall be excluded from Section 409A
to the maximum extent possible. For purposes of Section 409A, each installment payment provided under this Agreement shall be treated as a separate payment. 

12.    Certain Excise Taxes. Notwithstanding anything to the contrary in this Agreement, if Executive is a
“disqualified individual” (as defined in Section 280G(c) of the Code), and the payments and benefits provided for in this Agreement, together with any other payments and benefits which Executive has the right to receive from the
Company or any of its affiliates, would constitute a “parachute payment” (as defined in Section 280G(b)(2) of the Code), then the payments and benefits provided for in this Agreement shall be either (a) reduced (but not below
zero) so that the present value of such total amounts and benefits received by Executive from the Company or any of its affiliates shall be one dollar ($1.00) less than three times Executive’s “base amount” (as defined in
Section 280G(b)(3) of the Code) and so that no portion of such amounts and benefits received by Executive shall be subject to the excise tax imposed by Section 4999 of the Code or (b) paid in full, whichever produces the better net after-tax position to Executive (taking into account any applicable excise tax under Section 4999 of the Code and any other applicable taxes). The reduction of payments and benefits hereunder, if applicable,
shall be made by reducing, first, payments or benefits to be paid in cash hereunder in the order in which such payment or benefit would be paid or provided (beginning with such payment or benefit that would be made last in time and continuing, to
the extent necessary, through to such payment or benefit that would be made first in time) and, then, reducing any benefit to be provided in-kind hereunder in a similar order. The determination as to whether
any such reduction in the amount of the payments and benefits provided hereunder is necessary shall be made by the Company in good faith. If a reduced payment or benefit is made or provided and through error or otherwise that payment or benefit,
when aggregated with other payments and benefits from the Company or any of its affiliates used in determining if a “parachute payment” exists, exceeds one dollar ($1.00) less than three times Executive’s base amount, then Executive
shall immediately repay such excess to the Company upon notification that an overpayment has been made. Nothing in this Section 12 shall require the Company to be responsible for, or have any liability or obligation with respect to,
Executive’s excise tax liabilities under Section 4999 of the Code. 
 13.    Clawback. Notwithstanding
any other provision of this Agreement to the contrary, Executive acknowledges and agrees that any amounts payable under this Agreement shall be subject to claw-back, cancellation, recoupment, rescission, payback or other action in accordance with
the terms of any policy (the “Policy”) (whether in existence as of the Effective Date or later adopted) established by the Company providing for claw-back, cancellation, recoupment, rescission, payback or other action of amounts
paid to Executive. Executive agrees and consents to the Company’s application, implementation and enforcement of (a) the Policy and (b) any provision of applicable law relating to the claw-back, cancellation, recoupment, rescission or
payback of Executive’s compensation, and expressly agrees that the Company may take such actions as are necessary to effectuate the Policy or applicable law without further consent or action being required by Executive. To the extent that the
terms of this Agreement and the Policy conflict, then the terms of the Policy shall prevail. 

  
 - 12 - 

 14.    Miscellaneous. 

(a)    Notices. For purposes of this Agreement, notices and all other communications provided for
herein will be in writing and deemed to have been duly given (i) when received if delivered personally or by courier, or (ii) on the date receipt is acknowledged if delivered by certified mail, postage prepaid, return receipt requested, as
follows: 
  

			
	If to Executive, addressed to:	  	 Michael Hodges
 2716 Bison Drive

Edmond, Oklahoma 73034,
 or the last known 
residential address
reflected in the Company’s records

	If to the Company, addressed to:	  	 Montage Resources Corporation 
122 W. John Carpenter Freeway, Suite 300

Irving, Texas 75039 
Attention: Chief Executive Officer

 or to such other address as either party may furnish to the other in writing, except that notices of changes of
address are effective only upon receipt. 
 (b)    Applicable Law. This Agreement is entered into
under, and governed for all purposes by, the laws of the State of Texas, without regard to conflicts of laws principles thereof. 

(c)    No Waiver. No failure by either party hereto at any time to give notice of any breach by the
other party of, or to require compliance with, any condition or provision of this Agreement will be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. 

(d)    Severability. If a court of competent jurisdiction determines that any provision of this
Agreement (or part thereof) is invalid or unenforceable, then the invalidity or unenforceability of that provision (or part thereof) will not affect the validity or enforceability of any other provision of this Agreement, and all other provisions
(and parts thereof) remain in full force and effect. 
 (e)    Counterparts. This Agreement may be
executed in one or more counterparts, each of which will be deemed to be an original, but all of which together will constitute one and the same agreement. 

(f)    Withholding of Taxes and Other Employee Deductions. The Company or its affiliates may
withhold from any benefits and payments made pursuant to this Agreement all federal, state, city, and other taxes and withholdings as may be required pursuant to any law or governmental regulation or ruling and all other customary deductions made
with respect to the Company’s employees generally. 

  
 - 13 - 

 (g)    Headings. The section headings have been
inserted for purposes of convenience and may not be used for interpretive purposes. 
 (h)    Gender
and Plurals. Wherever the context so requires, the masculine gender includes the feminine or neuter, and the singular number includes the plural and conversely. 

(i)    Third Party Beneficiaries. Each affiliate of the Company will be a third party beneficiary
of, and may directly enforce, Executive’s obligations under Sections 6, 7 and 8. 

(j)    Survival. Termination of this Agreement will not affect any right or obligation of any party
which is accrued or vested prior to such termination. Without limiting the scope of the preceding sentence, the provisions of Sections 5, 6, 7, 8, 12, 13 and 16, and those provisions necessary to interpret and apply them, will survive any
termination of this Agreement. 
 (k)    Entire Agreement. Except as provided in any signed
written agreement contemporaneously or hereafter executed by the Company and Executive, this Agreement (i) constitutes the entire agreement of the parties with regard to the subject matter hereof, (ii) supersedes all prior agreements,
arrangements, and understandings, written or oral, relating to the subject matter hereof, and (iii) contains all the covenants, promises, representations, warranties, and agreements between the parties with respect to employment of Executive by
the Company. Without limiting the scope of the preceding sentence, all understandings and agreements preceding the date of execution of this Agreement and relating to the subject matter hereof are hereby null and void and of no further force and
effect. 
 (l)    Modification; Waiver. Any modification to or waiver of this Agreement will be
effective only if it is in writing and signed by the parties to this Agreement. 
 (m)    Actions by
the Board. Any and all determinations or other actions required of the Board hereunder that relate specifically to Executive’s employment or the terms and conditions of such employment will be made by the members of the Board, other than
Executive if Executive is a member of the Board, and Executive will not have any right to vote or decide upon any such matter. 

(n)    Forum and Venue. With respect to any claims, legal proceedings or litigation arising in
connection with this Agreement, the parties hereto hereby consent to the exclusive jurisdiction, forum, and venue of the state and federal courts, as applicable, located in Dallas County, Texas. 

  
 - 14 - 

 15.    Certain Definitions. In addition to the terms defined in
the body of this Agreement, for purposes of this Agreement the following capitalized words have the meanings indicated below: 

(a)    “Board” means the Board of Directors of the Company. 

(b)    “Cause” means the occurrence of any of the following events, as reasonably
determined by the Board: (i) Executive’s willful failure to perform his material duties for the Company; (ii) Executive’s conviction of a felony, or his guilty plea to or entry of a nolo contendere plea to a felony charge;
(iii) the willful or grossly negligent engagement by Executive in conduct that is materially injurious to the Company, financially or otherwise; or (iv) Executive’s breach of (A) any material term of this Agreement or
(B) any material term of the Company’s material written policies or procedures, as in effect from time to time; provided, that, with respect to (i), (iii) or (iv) above, such termination for Cause will only be effective upon
a majority vote of the total number of directors on the Board after written notice to Executive and a period of not less than thirty (30) calendar days after receipt by Executive of such written notice during which time Executive will have an
opportunity to appear before the Board to demonstrate that he has cured the conduct giving rise to Cause. 

(c)    “Change of Control” means the occurrence of any of the following events: 

(i)    Any one person, or more than one person acting as a group (within the meaning of
section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934), acquires ownership of the Company’s common stock that, together with stock held by such person or group, constitutes more than 40 percent of the total fair market
value or total voting power of the Company’s common stock. However, if any one person or more than one person acting as a group is considered to own more than 40 percent of the total fair market value or total voting power of the
Company’s common stock, the acquisition of additional common stock by the same person or persons will not be a Change of Control. An increase in the percentage of common stock owned by any one person, or persons acting as a group, as a result
of a transaction in which the Company acquires its stock in exchange for property will be treated as an acquisition of common stock for purposes of this Section 15(c). This Section applies only when there is a transfer of common stock (or
issuance of common stock) and common stock in the Company remains outstanding after the transaction. 

(ii)    A majority of the members of the Board are replaced during any twelve (12)-month period by
directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election. 

(iii)    A change in the ownership of a substantial portion of the Company’s assets, which will occur
on the date that any one person, or more than one person acting as a group (within the meaning of section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934) acquires (or has acquired during the
12-month period ending on the date of the most recent acquisition by such person or group of 

  
 - 15 - 

 
persons) assets from the Company that have a total gross fair market value equal to or more than 40 percent of the total gross fair market value of all of the assets of the Company
immediately prior to such acquisition or acquisitions; provided, however, that a sale of a substantial portion of the Company’s assets in the ordinary course of business and investment of the proceeds into similar assets for use in the business
of the Company will not constitute a change in the ownership of a substantial portion of the Company’s assets for purposes of this provision. For this purpose, gross fair market value means the value of the assets of the Company, or the value
of the assets being disposed of, determined without regard to any liabilities associated with such assets. 

(d)    “Code” means the Internal Revenue Code of 1986, as amended. 

(e)    “Disability” means Executive’s inability to engage in any substantial gainful
activity necessary to perform his duties hereunder by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted, or can be expected to last, for a continuous period of not less
than twelve (12) months. Executive agrees to submit to such medical examinations as may be necessary to determine whether a Disability exists, pursuant to such reasonable requests made by the Company from time to time. Any determination as to
the existence of a Disability will be made by a qualified physician selected by the Company. 

(f)    “Good Reason” means any of the following, but only if occurring without
Executive’s written consent: (i) a diminution in Executive’s Base Salary; (ii) a material diminution or material adverse change in Executive’s position, authority, duties or other responsibilities; (iii) the relocation
of Executive’s principal office to an area more than fifty (50) miles from its location immediately prior to such relocation; (iv) any material failure of the Company to comply with any material provision of this Agreement;
(v) any material breach by the Company of any written indemnification agreement between the Company and Executive; or (vi) any material breach of Section 6.10 of the Eclipse Merger Agreement. Such termination by Executive will not
preclude the Company from terminating Executive’s employment prior to the Termination Date established by Executive’s Notice of Termination. 

(g)    “Notice of Termination” means a written notice which (i) indicates the
specific termination provision in this Agreement relied upon, (ii) to the extent applicable, sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Executive’s employment under that
provision, and (iii) if the Termination Date is other than the date the notice is given, specifies the Termination Date (which must not be more than thirty (30) days or, in the case of a termination by Executive for Good Reason, sixty
(60) days after the date on which the Notice of Termination is given; provided, however, if the termination is due to a termination by Executive without Good Reason, then the Company may designate an earlier Termination Date than the date
designated in Executive’s Notice of Termination (which designated earlier Termination Date may not be earlier than fifteen (15) days after the date on which Executive’s Notice of Termination is given), which designation shall not
change the nature of Executive’s termination or make such termination a termination by the Company pursuant to Section 4(b). The failure by the Company or Executive to set 

  
 - 16 - 

 
forth in the Notice of Termination the facts or circumstances giving rise to Cause or Good Reason, as applicable, will not waive any right of the Company or Executive under this Agreement or
preclude the Company or Executive from asserting such fact or circumstance in enforcing the Company’s or Executive’s rights under this Agreement. 

(h)    “Termination Date” means: (i) if Executive’s employment is terminated by
death, the date of death; (ii) if Executive’s employment is terminated pursuant to Section 4(a) due to a Disability, thirty (30) days after the Notice of Termination is given; (iii) if Executive’s employment is
terminated by the Company without Cause or by Executive for Good Reason pursuant to Section 4(b) or 4(c), on the effective date of termination specified in the Notice of Termination (which effective date shall not be earlier than the date on
which such notice is given); (iv) if Executive voluntarily terminates his employment with the Company without Good Reason, the date of Executive’s termination of employment; or (v) if Executive’s employment is terminated by the
Company for Cause pursuant to Section 4(b), the date on which the Notice of Termination is given. 

16.    Executive’s Assistance in Legal Matters. Upon Executive’s termination of employment with the
Company for any reason, Executive shall, during normal business hours, reasonably cooperate with the Company in any internal investigation, any administrative, regulatory or judicial investigation or proceeding or any dispute with a third party as
reasonably requested by the Company to the extent that such investigation, proceeding or dispute may relate to matters of which Executive has material knowledge as a result of Executive’s serving as an employee, officer or director of the
Company or any subsidiary or affiliate of the Company (including Executive being available to the Company upon reasonable written notice for interviews and factual investigations, appearing at the Company’s request to give testimony without
requiring service of a subpoena or other legal process, volunteering to the Company all pertinent information in his possession and turning over to the Company all relevant documents which are or may come into Executive’s possession or control,
all at times and on schedules that are reasonably consistent with Executive’s other permitted activities and commitments). This obligation encompasses (and requires) Executive’s providing testimony, in court, upon deposition or by
affidavit, that is truthful, accurate and complete, according to information actually known to Executive; and providing to the Company or its counsel truthful, accurate and complete information to the extent actually known to Executive in connection
with the prosecution or defense of the Company or subsidiary or affiliate in such litigation or claims. Without limiting the generality of the foregoing, to the extent that the Company seeks such assistance, the Company shall, whenever possible,
provide Executive with reasonable advance written notice of its need for Executive’s assistance and will attempt to coordinate with Executive the time and place at which Executive’s assistance will be provided with the goal of minimizing
the impact of such assistance on any other business or personal commitment that Executive may have. In the event the Company requires Executive’s reasonable assistance or cooperation in accordance with this Section 16, the Company shall
reimburse Executive for Executive’s reasonable time, the value of which shall be calculated as the product of (a) the hours spent by Executive pursuant to this Section 16 and (b) a rate which shall be calculated by dividing
Executive’s final Base Salary by 2080, provided that the Company shall not reimburse Executive for any time Executive spends actually rendering any testimony. In addition, the Company shall reimburse Executive for reasonable travel expenses
(including lodging and meals) upon submission of itemized receipts therefor and, to the extent that it is 

  
 - 17 - 

 
reasonable that Executive will perform or provide the requested services or assistance away from his usual place of business or residence, the Company shall also reimburse other reasonable out of
pocket expenses actually incurred by Executive in performing or providing such services or assistance, upon submission of itemized receipts therefor. 

[Signatures begin on next page.] 

  
 - 18 - 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement effective as of
the Effective Date. 
  

			
	MONTAGE RESOURCES CORPORATION
		
	By:	 	/s/ John K. Reinhart
	Name:	 	John K. Reinhart
	Title:	 	President and Chief Executive Officer
	
	EXECUTIVE
		
	By:	 	/s/ Michael Hodges
	Name:	 	Michael Hodges

 EXHIBIT A 

RELEASE 

1.    In consideration of the payments and benefits (and any portion thereof) to be made pursuant to
Section [5(b)/5(c)] of the Executive Employment Agreement, dated as of March 1, 2019 (the “Employment Agreement”), by and between Michael Hodges (“Executive”) and Montage Resources Corporation (the
“Company”) (each of Executive and the Company, a “Party” and together, the “Parties”), the sufficiency of which Executive acknowledges, Executive, with the intention of binding himself and his
heirs, executors, administrators and assigns, does hereby release, remise, acquit and forever discharge the Company and each of its subsidiaries and affiliates (the “Company Affiliated Group”), and each of the foregoing
entities’ respective present and former officers, directors, executives, managers, members, affiliates, stockholders, agents, attorneys, employees and employee benefit plans (and the fiduciaries thereof), and the successors, predecessors and
assigns of each of the foregoing (collectively, the “Company Released Parties”), of and from any and all claims, actions, causes of action, complaints, charges, demands, rights, damages, debts, sums of money, accounts, financial
obligations, suits, expenses, attorneys’ fees and liabilities of whatever kind or nature in law, equity or otherwise, whether accrued, absolute, contingent, unliquidated or otherwise and whether now known or unknown, suspected or unsuspected,
which Executive, individually or as a member of a class, now has, owns or holds, or has at any time heretofore had, owned or held, arising on or prior to the date hereof, against any Company Released Party that arises out of, or relates to, the
Employment Agreement, Executive’s employment with the Company or any of its subsidiaries and affiliates, or any termination of such employment, or any other matter existing on or before the date the Executive signs this Release, including
claims (i) for severance or vacation or paid time off benefits, unpaid wages, salary or incentive payments, (ii) for breach of contract, wrongful discharge, impairment of economic opportunity, defamation, intentional infliction of
emotional harm or other tort, (iii) for any violation of applicable state or local labor and employment laws (including, without limitation, all laws concerning wrongful termination or unlawful or unfair labor and employment practices)
and (iv) for employment discrimination under any applicable federal, state or local statute, provision, order or regulation, and including, without limitation, any claim under Title VII of the Civil Rights Act of 1964
(“Title VII”), the Civil Rights Act of 1988, the Fair Labor Standards Act, the Americans with Disabilities Act (“ADA”), the Family and Medical Leave Act, the Executive Retirement Income Security Act of 1974, as
amended (“ERISA”), the Age Discrimination in Employment Act (“ADEA”), the Equal Pay Act, the Uniformed Services Employment and Reemployment Rights Act and any similar or analogous state statute. Notwithstanding the
foregoing, this Release will not apply and expressly excludes: (a) vested benefits under any plan maintained by the Company that provides benefits that are subject to ERISA; (b) health benefits under any policy or plan currently maintained
by the Company that provides for health insurance continuation or conversion rights including, but not limited to, rights and benefits to continue health care coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended or
similar state law; (c) any claim that cannot by law be waived or released by private agreement; (d) claims first arising after the date of this Release; (e) to the extent not paid as of the date of this Release, payments and benefits
required to be made under [Section 5(b)/5(c)] of the Employment Agreement, any future payments owed pursuant to Section 16 of the Employment Agreement, or (if still unpaid as of the date Executive signs this Release) any base salary for
the pay period in which the Termination Date (as defined in the Employment Agreement) occurred; (f) claims for future benefits under any directors and officers insurance policies; (g) future rights

  
 Exhibit A – Page 1

 
to indemnification Executive may have under the certificate of incorporation or bylaws of the Company and its affiliates or any applicable indemnification agreements with the Company and its
affiliates or applicable law; and (h) the Continuing Obligations (as defined in the Employment Agreement). 

2.    Executive acknowledges and agrees that the release of claims set forth in this Release is not to be construed in any
way as an admission of any liability whatsoever by any Company Released Party, any such liability being expressly denied. 

3.    The release of claims set forth in this Release applies to any relief no matter how called, including, without
limitation, (i) wages, (ii) back pay or front pay, (iii) compensatory damages, liquidated damages, punitive damages or damages for pain or suffering, (iv) costs, (v) attorneys’ fees and expenses and (vi) any right
to receive any compensation or benefit from any complaint, claim or charge with any local, state or federal court, agency or board, or in any proceeding of any kind which may be brought against the Company as a result of such a complaint, claim or
charge. 
 4.    Executive specifically acknowledges that his acceptance of the terms of the release of claims set forth
in this Release is, among other things, a specific waiver of his rights, claims and causes of action under Title VII, ADEA, ADA and any state or local law or regulation in respect of discrimination of any kind; provided, however,
that nothing herein will be deemed, nor does anything contained herein purport, to be a waiver of any right or claim or cause of action which by law Executive is not permitted to waive. 

5.    As to rights, claims and causes of action arising under the ADEA, Executive acknowledges that he has been given a
period of twenty-one (21) days1 to consider whether to execute this Release. If Executive accepts the terms hereof and executes this Release, he may
thereafter, for a period of seven (7) days following (and not including) the date of execution, revoke this Release as it relates to the release of claims arising under the ADEA. If no such revocation occurs, this Release will become
irrevocable in its entirety, and binding and enforceable against Executive, on the day next following the day on which the foregoing seven (7)-day period has elapsed. If such a revocation occurs, Executive
will irrevocably forfeit any right to payment of the severance benefits described in Section [5(b)/5(c)] of the Employment Agreement. 

6.    Other than as to rights, claims and causes of action arising under the ADEA, the release of claims set forth in this
Release will be immediately effective upon execution by Executive. 
 7.    Executive acknowledges and agrees that he
has not, with respect to any transaction or state of facts existing prior to the date hereof, filed any complaints, charges or lawsuits against any Company Released Party with any governmental agency, arbitrator, court or tribunal. 

8.    Executive acknowledges that he is hereby advised to seek, and has had the opportunity to seek, the advice and
assistance of an attorney with regard to the release of claims set forth in this Release, and has been given a sufficient period within which to consider the release of claims set forth in this Release. 

 

	1 	 Consideration period will be forty-five (45) days if release relates to an exit incentive or other
employment termination program (as defined in the ADEA) offered to a group or class of employees. 

  
 Exhibit A – Page 2

 9.    Executive acknowledges that the release of claims set forth in
this Release relates only to claims that exist as of the date of this Release. 
 10.    Executive acknowledges that the
severance benefits described in Section [5(b)/5(c)] of the Employment Agreement he will receive in connection with the release of claims set forth in this Release and his obligations under this Release are in addition to anything of value to
which Executive is entitled from the Company. 
 11.    Each provision hereof is severable from this Release, and if one
or more provisions hereof are declared invalid, the remaining provisions will nevertheless remain in full force and effect. If any provision of this Release is so broad, in scope, or duration or otherwise, as to be unenforceable, such provision will
be interpreted to be only so broad as is enforceable. 
 12.    This Release and the Employment Agreement constitute the
complete agreement of the Parties in respect of the subject matter hereof and will supersede all prior agreements between the Parties in respect of the subject matter hereof except to the extent set forth herein and therein. 

13.    The failure to enforce at any time any of the provisions of this Release or to require at any time performance by
another Party of any of the provisions hereof will in no way be construed to be a waiver of such provisions or to affect the validity of this Release, or any part hereof, or the right of any Party thereafter to enforce each and every such provision
in accordance with the terms of this Release. 
 14.    This Release may be executed in several counterparts, each of
which will be deemed to be an original, but all of which together will constitute one and the same instrument. Signatures delivered by facsimile will be deemed effective for all purposes. 

15.    This Release will be binding upon any and all successors and assigns of Executive and the Company. 

16.    Nothing in this Release prevents Executive from filing any non-legally
waivable claim (including a challenge to the validity of this Release) with the Equal Employment Opportunity Commission, National Labor Relations Board, Occupational Safety and Health Administration, Securities and Exchange Commission or
other federal, state or local governmental agency or commission (collectively “Governmental Agencies”) or participating in any investigation or proceeding conducted by any Governmental Agencies or communicating or cooperating with
such an agency; however, Executive understands and agrees that, to the extent permitted by law, he is waiving any and all rights to recover any monetary or personal relief from any Company Released Party as a result of such Governmental Agency
proceeding or subsequent legal actions. Nothing herein waives Executive’s right to receive an award for information provided to a Governmental Agency. 

  
 Exhibit A – Page 3

 17.    Except for issues or matters as to which federal law is
applicable, this Release will be governed by and construed and enforced in accordance with the laws of the State of Texas without resort to any principle of conflict of laws that would require application of the laws of any other jurisdiction. 

[Signature Page Follows] 

  
 Exhibit A – Page 4

 IN WITNESS WHEREOF, this Release has been signed as of
                    , 20    . 

 

			
	By:	 	 
	Name:	 	 Michael Hodges

  
 Exhibit A – Page 5Exhibit

Exhibit 4.2

KRATON CORPORATION
2019 EQUITY INDUCEMENT PLAN

		
	1.
	Plan. This Kraton Corporation 2019 Equity Inducement Plan (this “Plan”) was adopted by the Company and is reserved for persons to whom the Company may issue securities without stockholder approval as a material inducement to the person entering into employment with the Company or its Subsidiaries pursuant to Listing Rule 303A.08 of the New York Stock Exchange (“NYSE”). 

		
	2.
	Objectives. This Plan is designed to promote the interests of the Company and its stockholders by providing an incentive to attract and reward employees performing services for the Company and by motivating such persons to contribute to the growth and profitability of the Company.

		
	3.
	Definitions. As used herein, the terms set forth below shall have the following respective meanings: 

 “Award” means the grant, by the Company pursuant to this Plan, of any Option, SAR, or Stock Award, whether granted singly, in combination or in tandem, to a Participant pursuant to such applicable terms, conditions and limitations as the Committee may establish in order to fulfill the objectives of this Plan.
“Award Agreement” means any agreement (in writing or electronic) issued for and on behalf of the Company setting forth, in writing, the terms, conditions and limitations applicable to an Award.
“Board” means the Board of Directors of the Company.
 “Change in Control” means the occurrence of any of the following:
(i)Change in the Ownership of the Company. Any Person, acquires ownership of securities of the Company that, together with securities held by such Person, constitutes more than 50% of the total fair market value or total voting power of the securities of the Company.

(ii)Change in the Effective Control of the Company. The date any Person acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such Person) ownership of securities of the Company possessing 30% or more of the total voting power of the securities of the Company; or the date a majority of members of the Board is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority of the members of the Board before the date of the appointment or election.

(iii)Change in the Ownership of a Substantial Portion of the Company's Assets. A change in the ownership of a substantial portion of the Company’s assets occurs on the date that any Person acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such Person) assets from the Company that have a total gross fair market value equal to or more than 40% of the total gross fair market value of all of the assets of the Company immediately before such acquisition or acquisitions. For this purpose, gross fair market value means the value of the assets of such corporation, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets.

Exhibit 4.2

Notwithstanding the foregoing, no Change in Control shall be deemed to have occurred with respect to an Award that is subject to Code Section 409A unless such event constitutes an event specified in Code Section 409A(a)(2)(A)(v) and the Treasury regulations promulgated thereunder.
“Code” means the Internal Revenue Code of 1986, as amended from time to time.
“Committee” means the Compensation Committee of the Board or such other committee consisting of a majority of Independent Directors as is designated by the Board to administer this Plan.
“Common Stock” means the common stock, par value $0.01 per share, of the Company.
“Company” means Kraton Corporation, a Delaware corporation, and any successor thereto.
 “Dividend Equivalents” means an amount equal to dividends and other distributions (or the economic equivalent thereof) that are payable to stockholders of record on a like number of shares of Common Stock.
“Effective Date” means March 26, 2019, the date this Plan was approved by the Board. 
“Employee” means an employee of the Company or any of its Subsidiaries or an individual who has agreed to become an employee of the Company or any of its Subsidiaries and actually becomes such an employee within the six months immediately following the making of an Award to such individual.
“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time.
“Fair Market Value” of a share of Common Stock means, as of a particular date:
(i)if shares of Common Stock are listed on a national securities exchange, the average of the high and low sales prices per share of Common Stock on the consolidated transaction reporting system for the principal national securities exchange on which shares of Common Stock are listed on that date, or, if there shall have been no such sale so reported on that date, on the last preceding date on which such a sale was so reported;

(ii)if the Common Stock is not so listed, the average of the closing bid and asked price on that date, or, if there are no quotations available for such date, on the last preceding date on which such quotations shall be available, as reported by an inter-dealer quotation system;

(iii)if shares of Common Stock are not publicly traded, the most recent value determined by an independent appraiser appointed by the Committee for such purpose; or

(iv)if none of the above are applicable, the Fair Market Value of a share of Common Stock as determined in good faith by the Committee.

“Independent Director” means a member of the Board who is not also an Employee of the Company or any Subsidiary and who meets the applicable independence requirements of the NYSE.
“Maximum Share Limitation” shall have the meaning ascribed to such term in Section 5(a) hereof.
 “Option” means a right, granted by the Company pursuant to this Plan, to purchase a specified number of shares of Common Stock at a specified price, and is not intended to comply with the requirements set forth in Code Section 422.
“Participant” means an Employee to whom an Award has been made under this Plan.

Exhibit 4.2

“Performance Award” means a Stock Award to a Participant which Award is subject to the attainment of one or more Performance Goals, including both long-term and annual Performance Awards.
“Performance Goal” means a standard established by the Committee, the satisfaction of which shall determine in whole or in part whether a Performance Award shall be earned.
“Person” means any individual, corporation, partnership, “group” (as such term is used in Rule 13d‐5 under the Exchange Act), association or other “person,” as such term is used in Sections 13(d) and 14(d) of the Exchange Act, and the related rules and regulations promulgated thereunder.
“Plan” means this Kraton Corporation 2019 Equity Inducement Plan, as it may be amended from time to time.
“Restricted Stock” means any Common Stock that is restricted or subject to forfeiture provisions.
“Restricted Stock Unit” means a unit that is restricted or subject to forfeiture provisions evidencing the right to receive one share of Common Stock or cash equal to the Fair Market Value of one share of Common Stock.
“Restriction Period” means a period of time beginning as of the date upon which an Award of Restricted Stock or Restricted Stock Units is made pursuant to this Plan and ending as of the date upon which such Award is issued (if not previously issued), no longer restricted or no longer subject to forfeiture provisions.
“SAR” means a right, granted by the Company pursuant to this Plan, to receive a payment, in cash or Common Stock, equal to the excess of the Fair Market Value of a share of Common Stock on the date the right is exercised over the Fair Market Value of a share of Common Stock on the date of grant.
“Section 409A” means Code Section 409A, and related regulations and Treasury pronouncements.
“Stock Award” means an Award, granted by the Company pursuant to this Plan, in the form of shares of Common Stock or units denominated in shares of Common Stock, and includes Restricted Stock and Restricted Stock Units, but does not include Options or SARs.
“Subsidiary” means (i) in the case of a corporation, any corporation of which the Company directly or indirectly owns shares representing 50% or more of the combined voting power of the shares of all classes or series of capital stock of such corporation which have the right to vote generally on matters submitted to a vote of the stockholders of such corporation, and (ii) in the case of a partnership or other business entity not organized as a corporation, any such business entity of which the Company directly or indirectly owns 50% or more of the voting, capital or profits interests (whether in the form of partnership interests, membership interests or otherwise).
		
	4.
	Eligibility. Awards may be granted only to persons who meet the requirements under the inducement award exception from the NYSE rules requiring shareholder approval for the issuance of equity-based compensation, which limits Awards to persons who, in connection with an offer of employment, are offered an Award as a material inducement to become Employees, and such persons: (a) have not previously served as Employees or non-employee directors of the Company or any Subsidiary (including persons who become Employees in connection with a merger or acquisition); or (b) have experienced a bona fide period of interruption of employment with the Company or any Subsidiary.  

Exhibit 4.2

		
	5.
	Common Stock Available for Awards; Plan and Award Limitations. 

		
	(a)
	Common Stock Available Under this Plan. Subject to the provisions of the immediately following subsection (b), the maximum number of shares of Common Stock that may be subject to Awards under this Plan is 150,000 shares (the “Maximum Share Limitation”). 

		
	(b)
	Share Counting. Each Award shall be counted against the Maximum Share Limitation as one share of Common Stock. The number of shares of Common Stock that are the subject of Awards under this Plan that are canceled, terminated, forfeited or expire unexercised shall again immediately become available for Awards hereunder as if such shares had never been the subject of an Award, and the Maximum Share Limitation shall be increased by the same amount as such Shares were counted against the Maximum Share Limitation. Notwithstanding the foregoing, Awards granted pursuant to an Award Agreement specifying that such Award will be settled in cash shall not be counted against the limit set forth in Section 5(a). 

		
	(c)
	Reserved.

		
	(d)
	Reserved.

		
	(e)
	Adjustments. The limitations set forth in this Section 4 are subject to adjustment in accordance with Section 15 hereof. 

		
	(f)
	Other Actions. The Committee may from time to time adopt and observe such procedures concerning the counting of shares against this Plan maximum as it may deem appropriate. The Board, the Committee and the officers of the Company shall from time to time take whatever actions are necessary to file any required documents with governmental authorities, stock exchanges and transaction reporting systems to ensure that shares of Common Stock are available for issuance pursuant to Awards. 

		
	6.
	Administration. 

		
	(a)
	Authority of the Committee. Except as otherwise provided in this Plan with respect to actions or determinations by the Board, this Plan shall be administered by the Committee. Subject to the provisions hereof, the Committee shall have full and exclusive power and authority to administer this Plan and to take all actions that are specifically contemplated hereby or are necessary or appropriate in connection with the administration hereof. The Committee shall also have full and exclusive power to interpret this Plan and to adopt such rules, regulations and guidelines for carrying out this Plan as it may deem necessary or proper, all of which powers shall be exercised in the best interests of the Company and in keeping with the objectives of this Plan. Subject to Section 6(c) and Section 18 hereof, the Committee may, in its discretion, provide for (i) the extension of the exercisability of an Award, (ii) in the event of a Participant’s death, disability or retirement (in the case of disability and retirement, unless otherwise specified in the relevant grant agreement, as determined in accordance with the applicable policies and procedures of the Company as in effect from time to time) or in the event of a termination of employment by the Company without “Cause” or by the Participant with “Good Reason” (as such terms are defined in an Award Agreement, employment agreement or the Company’s Executive Severance Plan): (A) the acceleration of the date on which any such Award becomes vested or exercisable, as the case may be, (B) the elimination of (or lesser restrictions on) any restrictions contained in an Award, (C) the waiver of any restriction or other provision of this Plan or an Award or (iii) amendment or modification of an Award in any manner that is (A) not materially adverse to the Participant to whom such Award was granted, (B) consented to by such Participant or (C) authorized by Section 15(c) hereof; provided, however, that no such action shall permit the term 

Exhibit 4.2

of any Option or SAR to be greater than ten years from the applicable grant date. For avoidance of doubt, in the event of a Change in Control without a subsequent termination of employment, the Committee’s discretion with respect to Awards shall be subject to Section 15(c), rather than this Section 6(a). The Committee may approve the grant of an Award to an individual who it expects to become an Employee of the Company or any of its Subsidiaries within the six months following the date the Award is made, with the effectiveness of such Award being subject to the individual’s actually becoming an Employee within such time period, and subject to such other terms and conditions as may be established by the Committee. The Committee may correct any defect or supply any omission or reconcile any inconsistency in this Plan or in any Award in the manner and to the extent the Committee deems necessary or desirable to further the purposes of this Plan. Any decision of the Committee in the interpretation and administration of this Plan shall lie within its sole and absolute discretion and shall be final, conclusive and binding on all parties concerned. 

		
	(b)
	Indemnity. No member of the Board or the Committee shall be liable for anything done or omitted to be done by him or her, by any member of the Board or the Committee in connection with the performance of any duties under this Plan, except for his or her own willful misconduct or as expressly provided by statute. 

		
	(c)
	Prohibition on Repricing of Options and Stock Appreciation Rights. Except in connection with a corporate transaction involving the Company (including, without limitation, any stock dividend, stock split, extraordinary cash dividend, recapitalization, reorganization,  merger, consolidation, split‐up, spin‐off, combination, or exchange of shares), the terms of outstanding Options and SARs may not be amended to (i) reduce the exercise price of outstanding Options or SARs or (ii) cancel outstanding Options or SARs in exchange for cash, other Awards or Options or SARs with an exercise price that is less than the exercise price of the original Options or SARs without stockholder approval.

		
	7.
	Reserved. 

		
	8.
	Awards. The Committee shall determine the type or types of Awards to be made under this Plan and shall designate from time to time the Participants who are to be the recipients of such Awards. Each Award shall be embodied in an Award Agreement in such form as the Committee determines, which shall contain such terms, conditions and limitations as shall be determined by the Committee in its sole discretion, including any treatment upon a Change in Control, and shall be issued for and on behalf of the Company. Awards may consist of those listed in this Section 8 and may be granted singly, in combination or in tandem. Awards may also be made in combination or in tandem with, in replacement of, or as alternatives to, grants or rights under this Plan or any other plan of the Company or any of its Subsidiaries, including this Plan of any acquired entity; provided that, except as contemplated in Section 15 hereof, no Option or SAR may be issued in exchange for the cancellation of an Option or SAR, respectively, with a higher exercise price nor may the exercise price of any Option or SAR be reduced. All or part of an Award may be subject to conditions established by the Committee, which may include, but are not limited to, continuous service with the Company and its Subsidiaries, achievement of specific business objectives, increases in specified indices, attainment of specified growth rates and other measurements of performance. Upon the termination of employment by a Participant who is an Employee, any unexercised, deferred, unvested or unpaid Awards shall be treated as set forth in the applicable Award Agreement. 

Exhibit 4.2

		
	(a)
	Option. An Award may be in the form of an Option. The price at which shares of Common Stock may be purchased upon the exercise of an Option shall be not less than the Fair Market Value of the Common Stock on the date of grant. The term of an Option shall not exceed ten years from the date of grant. Subject to the foregoing provisions, the terms, conditions and limitations applicable to any Options awarded pursuant to this Plan, including the term of any Options and the date or dates upon which such Options become exercisable, shall be determined by the Committee. Options may not be sold, pledged, assigned, hypothecated, transferred, or disposed of, on a general or specific basis, except as otherwise determined by the Committee and subject to such conditions and limitations as the Committee may determine.

		
	(b)
	Stock Appreciation Right. An Award may be in the form of a SAR. The strike price for a SAR shall not be less than the Fair Market Value of the Common Stock on the date on which the SAR is granted. The term of a SAR shall not exceed ten years from the date of grant. Subject to the foregoing limitations, the terms, conditions and limitations applicable to any SARs awarded pursuant to this Plan, including the term of any SARs and the date or dates upon which such SARs become exercisable, shall be determined by the Committee. As of the date of grant of a SAR, the Committee may specifically designate that the Award will be paid (i) only in cash, (ii) only in Common Stock, or (iii) in such other form or combination of forms as the Committee may elect or permit at the time of exercise. 

		
	(c)
	Stock Award. An Award may be in the form of a Stock Award. The terms, conditions and limitations applicable to any Stock Awards granted pursuant to this Plan shall be determined by the Committee, subject to the limitations specified below.  

		
	(d)
	Reserved.

		
	(e)
	Performance Award. Without limiting the type or number of Awards that may be made under the other provisions of this Plan, an Award may be in the form of a Performance Award. The terms, conditions and limitations applicable to any Performance Awards granted to Participants pursuant to this Plan shall be determined by the Committee, subject to the limitations specified in this Plan. The Committee shall set Performance Goals in its discretion which, depending on the extent to which such Performance Goals are met, will determine the value and/or amount of Performance Awards that will be paid out to the Participant and/or the portion of an Award that may be exercised. 

		
	9.
	Reserved.

		
	10.
	Award Payment; Dividends and Dividend Equivalents. 

		
	(a)
	General. Payment of Awards may include such restrictions as the Committee shall determine, including, in the case of Common Stock, restrictions on transfer and forfeiture provisions. If payment of an Award is made in the form of Restricted Stock, the applicable Award Agreement relating to such shares shall specify whether such shares are to be issued at the beginning or end of the Restriction Period. In the event that shares of Restricted Stock are to be issued at the beginning of the Restriction Period, the certificates evidencing such shares (to the extent that such shares are so evidenced) shall contain appropriate legends and restrictions that describe the terms and conditions of the restrictions applicable thereto. In the event that shares of Restricted Stock are to be issued at the end of the Restriction Period, the right to receive such shares shall be evidenced by book entry registration or in such other manner as the Committee may determine.

Exhibit 4.2

		
	(b)
	Dividends, Dividend Equivalents and Interest. Rights to dividends or Dividend Equivalents may be extended to and made part of any Award (other than Options and SARs) consisting of shares of Common Stock or units denominated in shares of Common Stock, subject to such terms, conditions and restrictions as the Committee may establish; provided that no such dividends or Dividend Equivalents shall be paid with respect to unvested Performance Awards. Dividends and/or Dividend Equivalents shall not be made part of any Options or SARs. The Committee may also establish rules and procedures for the crediting of interest on deferred cash payments, dividends or Dividend Equivalents. 

		
	(c)
	Reserved.

		
	11.
	Stock Option Exercise. The price at which shares of Common Stock may be purchased under an Option shall be paid in full at the time of exercise in cash or, if permitted by the Committee and  elected by the Participant, the Participant may purchase such shares by means of the Company withholding shares of Common Stock otherwise deliverable on exercise of the Award or tendering Common Stock or surrendering another Award, including Restricted Stock, valued at Fair Market Value on the date of exercise, or any combination thereof. The Committee, in its sole discretion, shall determine acceptable methods for Participants to tender Common Stock or other Awards. The Committee may provide for procedures to permit the exercise or purchase of such Awards by use of the proceeds to be received from the sale of Common Stock issuable pursuant to an Award (including cashless exercise involving a broker or dealer approved by the Committee or net-exercise both pursuant to procedures approved by the Committee). Unless otherwise provided in the applicable Award Agreement, in the event shares of Restricted Stock are tendered as consideration for the exercise of an Option, a number of the shares issued upon the exercise of the Option, equal to the number of shares of Restricted Stock used as consideration therefore, shall be subject to the same restrictions as the Restricted Stock so submitted as well as any additional restrictions that may be imposed by the Committee. The Committee may adopt additional rules and procedures regarding the exercise of Options from time to time, provided that such rules and procedures are not inconsistent with the provisions of this Section 11.

		
	12.
	Taxes. The Company shall have the right to deduct applicable taxes from any Award payment and withhold an appropriate amount of cash or number of shares of Common Stock or a combination thereof for payment of taxes required by law or to take such other action as may be necessary in the opinion of the Company to satisfy all obligations for withholding of such taxes. The Committee may also permit withholding to be satisfied by the transfer to the Company of shares of Common Stock theretofore owned by the holder of the Award with respect to which withholding is required. If shares of Common Stock are used to satisfy tax withholding, such shares shall be valued based on the Fair Market Value when the tax withholding is required to be made. 

		
	13.
	Amendment, Modification, Suspension or Termination. The Board may amend, modify, suspend or terminate this Plan (and the Committee may amend or modify an Award Agreement) for the purpose of meeting or addressing any changes in legal requirements or for any other purpose permitted by applicable law, except that (i) no amendment or alteration that would materially adversely affect the rights of any Participant under any Award previously granted to such Participant shall be made without the consent of such Participant and (ii) no amendment or alteration shall be effective prior to its approval by the stockholders of the Company to the extent stockholder approval is otherwise required by applicable legal requirements or the requirements of the securities exchange on which the Company’s stock is listed. Notwithstanding any provision in this Plan to the contrary, this Plan shall not be amended or terminated in such manner that would cause this Plan or any amounts or benefits payable hereunder to fail to comply with or be exempt from Section 409A, and any such amendment or termination that may reasonably be expected to result in such failure shall be of no force or effect. 

Exhibit 4.2

		
	14.
	Assignability. Unless otherwise determined by the Committee and provided in the Award Agreement, no Award or any other benefit under this Plan shall be assignable or otherwise transferable. Any attempted assignment of an Award or any other benefit under this Plan in violation of this Section 14 shall be null and void.

		
	15.
	Adjustments. 

		
	(a)
	The existence of outstanding Awards shall not affect in any manner the right or power of the Company or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the capital stock of the Company or its business or any merger or consolidation of the Company, or any issue of bonds, debentures, preferred or prior preference stock (whether or not such issue is prior to, on a parity with or junior to the Common Stock) or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding of any kind, whether or not of a character similar to that of the acts or proceedings enumerated above. 

		
	(b)
	In the event of any subdivision or consolidation of outstanding shares of Common Stock, declaration of a dividend payable in shares of Common Stock or other stock split, then (i) the number of shares of Common Stock reserved under this Plan, (ii) the exercise or other price in respect of such Awards, and (iii) the appropriate Fair Market Value and other price determinations for such Awards shall each be proportionately adjusted by the Committee to reflect such transaction. In the event of any other recapitalization or capital reorganization of the Company, any consolidation or merger of the Company with another corporation or entity, the adoption by the Company of any plan of exchange affecting the Common Stock or any distribution to holders of Common Stock of securities or property (other than normal cash dividends or dividends payable in Common Stock), the Committee shall make appropriate adjustments to (1) the number of shares of Common Stock covered by Awards in the form of Common Stock or units denominated in Common Stock, (2) the exercise or other price in respect of such Awards, (3) the appropriate Fair Market Value and other price determinations for such Awards, and (4) the number of shares of Common Stock available under this Plan for Options and Stock Awards, to give effect to such transaction; provided that such adjustments shall only be such as are necessary to maintain the proportionate interest of the holders of the Awards and preserve, without exceeding, the value of such Awards. 

		
	(c)
	In the event of a corporate merger, consolidation, acquisition of property or stock, separation, reorganization or liquidation, the Committee may make such adjustments to Awards or other provisions for the disposition of Awards as it deems equitable, and shall (i) if available pursuant to the terms of the transaction, provide for the substitution of a new Award or other arrangement (which, if applicable, may be exercisable for such property or stock as the Committee determines) for an Award or the assumption of the Award (and for awards not granted under this Plan), regardless of whether in a transaction to which Code Section 424(a) applies, or (ii), to the extent that Awards cannot be substituted or assumed pursuant to subsection (i) above: (A) provide, prior to the transaction, for the acceleration of the vesting and exercisability of, or lapse of restrictions with respect to, the Award and, if the transaction is a cash merger, provide for the termination of any portion of the Award  that remains unexercised at the time of such transaction, (B) provide for the acceleration of the vesting and exercisability of an Award and the cancellation thereof in exchange for such payment as the Committee, in its sole discretion, determines is a reasonable approximation of the value thereof, (C) cancel any Awards and direct the Company to deliver to the Participants who are the holders of such Awards cash in an amount that the Committee shall determine in its sole discretion is equal to the Fair Market Value of such Awards as of the date of such event, which, in the case of any Option, shall be the amount equal to the excess of the Fair Market Value of a share as of such date over the per‐share exercise price for such Option (for the 

Exhibit 4.2

avoidance of doubt, if such exercise price is less than such Fair Market Value, the Option may be canceled for no consideration), or (D) cancel Awards that are Options and give the Participants who are the holders of such Awards notice and opportunity to exercise prior to such cancellation. 

		
	(d)
	No adjustment authorized by this Section 15 shall be made in such manner that would result in this Plan or any amounts or benefits payable hereunder to fail to comply with or be exempt from Section 409A, and any such adjustment that may reasonably be expected to result in such failure shall be of no force or effect. 

		
	16.
	Restrictions. No Common Stock or other form of payment shall be issued or made with respect to any Award unless the Company shall be satisfied based on the advice of its counsel that such issuance or other payment will be in compliance with all applicable federal and state securities laws. Certificates evidencing shares of Common Stock delivered under this Plan (to the extent that such shares are so evidenced) may be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the rules, regulations and other requirements of the Securities and Exchange Commission, any securities exchange or transaction reporting system upon which the Common Stock is then listed or to which it is admitted for quotation and any applicable federal or state securities law. The Committee may cause a legend or legends to be placed upon such certificates (if any) to make appropriate reference to such restrictions.

		
	17.
	Unfunded Plan. This Plan is unfunded. Although bookkeeping accounts may be established with respect to Participants who are entitled to cash, Common Stock or rights thereto under this Plan, any such accounts shall be used merely as a bookkeeping convenience. The Company shall not be required to segregate any assets that may at any time be represented by cash, Common Stock or rights thereto, nor shall this Plan be construed as providing for such segregation, nor shall the Company, the Board or the Committee be deemed to be a trustee of any cash, Common Stock or rights thereto to be granted under this Plan. Any liability or obligation of the Company to any Participant with respect to an Award of cash, Common Stock or rights thereto under this Plan shall be based solely upon any contractual obligations that may be created by this Plan and any Award Agreement, and no such liability or obligation of the Company shall be deemed to be secured by any pledge or other encumbrance on any property of the Company. None of the Company, the Board or the Committee shall be required to give any security or bond for the performance of any obligation that may be created by this Plan. 

		
	18.
	Section 409A. 

		
	(a)
	Notwithstanding anything in this Plan to the contrary, if any Plan provision or Award under this Plan would result in the imposition of an additional tax under Section 409A, that Plan provision or Award will be reformed to avoid imposition of the additional tax, including that any Award subject to 409A held by a specified employee that is settled upon termination of employment (for reasons other than death) shall be delayed in payment until the expiration of six months, and no action taken to comply with Section 409A shall be deemed to adversely affect the Participant’s rights to an Award. Awards made under this Plan are intended to comply with or be exempt from Section 409A, and ambiguous provisions hereof, if any, shall be construed and interpreted in a manner consistent with such intent. No payment, benefit or consideration shall be substituted for an Award if such action would result in the imposition of taxes under Section 409A. 

		
	(b)
	Unless the Committee provides otherwise in an Award Agreement, each Restricted Stock Unit Award (or portion thereof if the Award is subject to a vesting schedule) shall be settled no later than the 15th day of the third month after the end of the first calendar year in which the Award (or such portion thereof) is no longer subject to a “substantial risk of forfeiture” within the meaning of Section 409A. If the Committee determines that a Restricted Stock Unit Award is intended to 

Exhibit 4.2

be subject to Section 409A, the applicable Award Agreement shall include terms that are designed to satisfy the requirements of Section 409A. 

		
	(c)
	If the Participant is identified by the Company as a “specified employee” within the meaning of Code Section 409A(a)(2)(B)(i) on the date on which the Participant has a “separation from service” (other than due to death) within the meaning of Treasury Regulation Section 1.409A‐1(h), any Award payable or settled on account of a separation from service that is deferred compensation subject to Section 409A shall be paid or settled on the earliest of (1) the first business day following the expiration of six months from the Participant’s separation from service, (2) the date of the Participant’s death, or (3) such earlier date as complies with the requirements of Section 409A. 

		
	19.
	Governing Law. This Plan and all determinations made and actions taken pursuant hereto, to the extent not otherwise governed by mandatory provisions of the Code or the securities laws of the United States, shall be governed by and construed in accordance with the laws of the State of Texas. 

		
	20.
	Right to Continued Service or Employment. Nothing in this Plan or an Award Agreement shall interfere with or limit in any way the right of the Company or any of its Subsidiaries to revoke an offer of employment, terminate any Participant’s employment or other service relationship with the Company or its Subsidiaries at any time, nor confer upon any Participant any right to continue in the capacity in which he is employed or otherwise serves the Company or its Subsidiaries. 

		
	21.
	Clawback Right. Notwithstanding any other provisions in this Plan, any Award shall be subject to recovery or clawback by the Company under any clawback policy adopted by the Company whether before or after the date of grant of the Award. 

		
	22.
	Usage. Words used in this Plan in the singular shall include the plural and vice versa, and words of one gender shall be construed to include the other gender and the neuter, in each case as the context requires. 

		
	23.
	Headings. The headings in this Plan are inserted for convenience of reference only and shall not affect the meaning or interpretation of this Plan. 

		
	24.
	No Fractional Shares. No fractional shares of Common Stock shall be issued or delivered pursuant to this Plan or any Award. The Committee shall determine whether cash, Awards, or other property shall be issued or paid in lieu of fractional shares of Common Stock or whether such fractional shares of Common Stock or any rights thereto shall be forfeited or otherwise eliminated.  

		
	25.
	Participants Based Outside of the United States. Notwithstanding any provision of this Plan to the contrary, in order to comply with the laws in other countries in which the Company operates or has Employees, the Committee, in its sole discretion, shall have the power and authority to: 

		
	(a)
	Determine which affiliates and Subsidiaries shall be covered by this Plan; 

		
	(b)
	Determine which Employees outside the United States are eligible to participate in this Plan; 

		
	(c)
	Modify the terms and conditions of any Award granted to Employees outside the United States to comply with applicable foreign laws;

		
	(d)
	Establish subplans and modify exercise procedures and other terms and procedures, to the extent such actions may be necessary or advisable. Any subplans and modifications to Plan terms and procedures established under this Section 25 by the Committee shall be attached to the Plan document as appendices; and 

Exhibit 4.2

		
	(e)
	Take any action, before or after an Award is made, that it deems advisable to obtain approval or comply with any necessary local government regulatory exemptions or approvals. 

Notwithstanding the above, the Committee may not take any actions hereunder, and no Awards shall be granted, that would violate applicable law.
		
	26.
	Effective Date. This Plan, as approved by the Board on March 26, 2019, shall be effective as of the Effective Date. This Plan shall continue in effect until earlier terminated by action of the Board, and no further Awards may be granted under this Plan after the termination of the Plan, except as to Awards then outstanding under this Plan. Such outstanding Awards shall remain in effect until they have been exercised or terminated, or have expired.

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