SEC Contract Filing

Filing Date: 2018-02-28

Document Content:
<DOCUMENT>
<TYPE>EX-10.59
<SEQUENCE>5
<FILENAME>ex1059parsleyenergyinc2014.htm
<DESCRIPTION>EXHIBIT 10.59
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
 <!-- Document created using Wdesk 1 -->
 <!-- Copyright 2018 Workiva -->
 <title>Exhibit</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<div><a name="s8c36fc824c354559850219a4215ed348"></a></div><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 10.59</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">PARSLEY ENERGY, INC.</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">2014 LONG TERM INCENTIVE PLAN</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">RESTRICTED STOCK AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This Agreement is made and entered into as of the &#8220;Date of Grant&#8221; set forth in the Notice of Grant of Restricted Stock (the &#8220;Notice of Grant&#8221;) by and between Parsley Energy, Inc., a Delaware corporation (the &#8220;Company&#8221;), and you;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:12pt;">, the Company adopted the Parsley Energy, Inc. 2014 Long Term Incentive Plan, as it may be amended from time to time (the &#8220;Plan&#8221;) under which the Company is authorized to grant restricted stock awards to certain employees and service providers of the Company;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:12pt;">, in order to induce you to enter into or to continue to provide services to the Company and to materially contribute to the success of the Company, the Company agrees to grant you this restricted stock award;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:12pt;">, a copy of the Plan has been furnished to you and shall be deemed a part of this restricted stock award agreement (&#8220;Agreement&#8221;) as if fully set forth herein and the terms capitalized but not defined herein shall have the meanings set forth in the Plan; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:12pt;">, you desire to accept the restricted stock award made pursuant to this Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">NOW, THEREFORE,</font><font style="font-family:inherit;font-size:12pt;">&#32;in consideration of and mutual covenants set forth herein and for other valuable consideration hereinafter set forth, the parties agree as follows:</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:justify;text-indent:48px;"><font style="padding-bottom:16px;text-align:justify;font-family:inherit;font-size:10pt;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">The Grant</font><font style="font-family:inherit;font-size:12pt;">. Subject to the conditions set forth below, the Company hereby grants to you, effective as of the Date of Grant, as a matter of separate inducement but not in lieu of any salary or other compensation for your services for the Company, an award (the &#8220;Award&#8221;) consisting of the aggregate number of Restricted Shares of Stock set forth in the Notice of Grant in accordance with the terms and conditions set forth herein, in the Notice of Grant and in the Plan.</font></div><div style="line-height:120%;padding-left:0px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:48px;">2.</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Escrow of Restricted Shares</font><font style="font-family:inherit;font-size:12pt;">. The Company shall evidence the Restricted Shares in the manner that it deems appropriate. The Company may issue in your name a certificate or certificates representing the Restricted Shares and retain that certificate or those certificates until the restrictions on such Restricted Shares expire as described in the Notice of Grant and Section 5 of this Agreement or the Restricted Shares are forfeited as described in the Notice of Grant and Sections 4 and 6 of this Agreement. If the Company certificates the Restricted Shares, you shall execute one or more stock powers in blank for those certificat