SEC Contract Filing

Filing Date: 2019-03-08

Document Content:
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<TYPE>EX-10.37
<SEQUENCE>5
<FILENAME>upl-ex1037_214.htm
<DESCRIPTION>EX-10.37
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<p style="text-align:right;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.37</p>
<p style="margin-top:18pt;text-align:center;margin-bottom:12pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">EMPLOYMENT AGREEMENT</p>
<p style="text-align:justify;margin-top:8pt;margin-bottom:12pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">THIS EMPLOYMENT AGREEMENT (this &#8220;<font style="text-decoration:underline;">Agreement</font>&#8221;) is entered into by and between ULTRA PETROLEUM CORP., a Yukon corporation (&#8220;<font style="text-decoration:underline;">Ultra</font>&#8221;), and DAVID W. HONEYFIELD (&#8220;<font style="text-decoration:underline;">Executive</font>&#8221;). </p>
<p style="text-align:justify;margin-top:8pt;margin-bottom:12pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, Ultra desires to employ Executive and to embody herein the terms of such employment, and considers it to be in its best interests and in the best interests of its stockholders to employ Executive during the Employment Period (as defined in Section 1 below); and</p>
<p style="text-align:justify;margin-top:8pt;margin-bottom:12pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, Executive is willing to accept such employment with Ultra upon the terms and conditions of this Agreement;</p>
<p style="text-align:justify;margin-top:8pt;margin-bottom:12pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:</p>
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<p style="text-align:justify;margin-top:8pt;margin-bottom:12pt;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.</font></p></td>
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<p style="text-align:justify;margin-top:8pt;margin-bottom:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;"><font style="text-decoration:underline;">Date of Agreement; Employment Period</font>. This Agreement is entered into November 5, 2018. The employment period hereunder shall become effective beginning at the start of business on November 9, 2018 (the &#8220;<font style="text-decoration:underline;">Effective Date</font>&#8221;) and shall continue until the termination of Executive&#8217;s employment hereunder (the &#8220;<font style="text-decoration:underline;">Employment Period</font>&#8221;).</p></td></tr></table></div>
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<p style="text-align:justify;margin-top:8pt;margin-bottom:12pt;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.</font></p></td>
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<p style="text-align:justify;margin-top:8pt;margin-bottom:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;"><font style="text-decoration:underline;">Positions and Duties</font>. While this Agreement is in effect:</p></td></tr></table></div>
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<p style="text-align:justify;margin-top:8pt;margin-bottom:12pt;color:#010000;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="text-align:justify;margin-top:8pt;margin-bottom:12pt;color:#010000;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="color:#010000;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(a)</font></p></td>
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<p style="text-align:justify;margin-top:8pt;margin-bottom:12pt;color:#010000;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;"><font style="color:#000000;">Executive shall serve as the Chief Financial Officer of Ultra and shall have the normal authority, responsibilities and duties of an executive in such position and such other reasonably related duties and responsibilities, in each case, that are assigned by the Company.</font></p></td></tr></table></div>
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