SEC Contract Filing

Filing Date: 2015-05-18

Document Content:
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>7
<FILENAME>kwk10-q20150331ex104.htm
<DESCRIPTION>LETTER TO J. DAVID RUSHFORD DATED FEBRUARY 23, 2015
<TEXT>
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<a name="s4E2BBFECC89620B9956B05BA1A76CFAE"></a><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exhibit 10.4</font></div></div><br><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:9.5pt;"><font style="font-family:Arial;font-size:9.5pt;font-weight:bold;">PRIVATE &amp; CONFIDENTIAL</font></div><div style="line-height:120%;text-align:justify;font-size:9.5pt;"><font style="font-family:Arial;font-size:9.5pt;">February 23, 2015</font></div><div style="line-height:120%;text-align:left;font-size:9.5pt;"><font style="font-family:Arial;font-size:9.5pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:9.5pt;"><font style="font-family:Arial;font-size:9.5pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:9.5pt;"><font style="font-family:Arial;font-size:9.5pt;">David Rushford <br>[Address redacted]</font></div><div style="line-height:120%;text-align:left;font-size:9.5pt;"><font style="font-family:Arial;font-size:9.5pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:9.5pt;"><font style="font-family:Arial;font-size:9.5pt;">Dear David:</font></div><div style="line-height:120%;text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;"><br></font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:9.5pt;"><font style="font-family:Arial;font-size:9.5pt;">Quicksilver Resources Canada Inc. (the &#8220;</font><font style="font-family:Arial;font-size:9.5pt;font-weight:bold;">Company</font><font style="font-family:Arial;font-size:9.5pt;">&#8221;) is pleased to offer you a cash retention award of </font><font style="font-family:Arial;font-size:9.5pt;font-weight:bold;">CDN $315,900</font><font style="font-family:Arial;font-size:9.5pt;">&#32;in appreciation of your efforts on behalf of the Company, to retain your services and to encourage the highest level of future performance. The retention award will be paid in a lump sum (less applicable taxes and withholdings) on February 27, 2015 (the &#8220;</font><font style="font-family:Arial;font-size:9.5pt;font-weight:bold;">Payment</font><font style="font-family:Arial;font-size:9.5pt;">&#32;</font><font style="font-family:Arial;font-size:9.5pt;font-weight:bold;">Date</font><font style="font-family:Arial;font-size:9.5pt;">&#8221;); on condition</font><font style="font-family:Arial;font-size:9.5pt;font-style:italic;">&#32;</font><font style="font-family:Arial;font-size:9.5pt;">that you remain an active, regular full-time employee in good standing of the Company at the Payment Date and for a period of 12 months thereafter.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:9.5pt;"><font style="font-family:Arial;font-size:9.5pt;">In the event that you cease to be an active, regular full-time employee in good standing of the Company prior to the 12-month anniversary of the Payment Date, you will be required to repay the Company a prorated portion of the cash retention award based on the time that you worked during such period, payable on a gross (before tax) basis unless (a)&#160;there has been a Change in Control (as defined in Quicksilver Resources Inc. Amended and Restated Change in Control Retention Incentive Plan as of the date hereof) on or prior to the date of your termination of employment; or (b)&#160;your employment is terminated (i) by the Company without Cause (as defined below), subject to your execution and non-revocation of a release agreement satisfactory to the Company, (ii)&#160;due to disability that renders you unable to perform the essential functions of your job duties, with or without a reasonable accommodation, in compliance with applicable law or (iii)&#160;due to your death.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:9.5pt;"><font style="font-family:Arial;font-size:9.5pt;">In consideration for your receipt of this retention award, you agree to the cancellation of the remaining cash payments pursuant to retention awards, but not transaction based awards, previously granted to you on July 15, 2013 (the &#8220;</font><font style="font-family:Arial;font-size:9.5pt;font-weight:bold;">Prior Awards</font><font style="font-family:Arial;font-size:9.5pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:9.5pt;"><font style="font-family:Arial;font-size:9.5pt;">&#8220;</font><font style="font-family:Arial;font-size:9.5pt;font-weight:bold;">Cause</font><font style="font-family:Arial;font-size:9.5pt;">&#8221; means willful or gross misconduct or willful failure by you to perform your employment responsibilities in the best interests of the Company and its subsidiaries (including, without limitation, any fraudulent or criminal activity, breach by you of any provision of any employment, nondisclosure, non-competition or other similar agreement between you and the Company), as determined by the Compensation Committee of the Board of Directors of Quicksilver Resources Inc., which determination will be conclusive. You will be considered to have been discharged for Cause if the Company determines, within 30 days after your termination, that discharge for Cause was warranted.</font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:9.5pt;"><font style="font-family:Arial;font-size:9.5pt;">This letter agreement is the