SEC Contract Filing

Filing Date: 2020-05-07

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>rvra-ex101_264.htm
<DESCRIPTION>EX-10.1
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
<head>
<title>
rvra-ex101_264.htm
</title>
</head>
<!-- NG Converter v5.0.2.38 -->
<body>

<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Calibri;font-size:11pt;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.1</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Calibri;font-size:11pt;font-style:normal;text-transform:none;font-variant: normal;">RIVIERA RESOURCES, INC.</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Calibri;font-size:11pt;font-style:normal;text-transform:none;font-variant: normal;">SEVERANCE PLAN</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Calibri;font-size:11pt;font-style:normal;text-transform:none;font-variant: normal;">EFFECTIVE MARCH 1, 2019</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-variant: small-caps;font-family:Calibri;font-size:11pt;font-style:normal;text-transform:none;">ARTICLE I </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-variant: small-caps;font-family:Calibri;font-size:11pt;font-style:normal;text-transform:none;">INTRODUCTION AND ESTABLISHMENT OF PLAN</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:8pt;margin-top:0pt;font-weight:bold;font-family:Calibri;font-size:11pt;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.69%;"><font style="font-weight:normal;">The Board of Directors of Riviera Resources, Inc. (the &#8220;</font><font style="font-style:italic;">Company</font><font style="font-weight:normal;">&#8221;) hereby ratifies and adopts the Riviera Resources, Inc. Severance Plan (the &#8220;</font><font style="font-style:italic;">Plan</font><font style="font-weight:normal;">&#8221;) as of the Effective Date, for eligible employees of the Company and certain participating Subsidiaries.&nbsp;&nbsp;The Company, as successor to Linn Energy, Inc., assumed the Linn Energy, Inc. Severance Plan (the &#8220;</font><font style="font-style:italic;">Prior Plan</font><font style="font-weight:normal;">&#8221;) pursuant to Article VII thereof, and pursuant to Article VIII of the Prior Plan, the Company hereby replaces the Prior Plan in its entirety with the Plan.&nbsp;&nbsp;The Plan is intended to offer specified severance benefits to eligible employees in the event of certain involuntary terminations of employment from the Company or relevant participating Subsidiary.&nbsp;&nbsp;The Plan, as a &#8220;severance pay arrangement&#8221; within the meaning of Section 3(2)(B)(i) of the Employee Retirement Income Security Act of 1974, as amended (&#8220;</font><font style="font-style:italic;">ERISA</font><font style="font-weight:normal;">&#8221;), is intended to be and shall be administered and maintained as an unfunded welfare benefit plan under Section 3(1) of ERISA.&nbsp;&nbsp; </font></p>
<p style="text-align:justify;margin-bottom:8pt;margin-top:0pt;font-family:Calibri;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.69%;">The Company expressly reserves the right at any time, and from time to time, for any reason in the Company&#8217;s sole discretion, to change, modify, alter or amend the Plan in any respect and to terminate the Plan in full.&nbsp;&nbsp;All provisions of the Plan relating to other employee benefit plans of the Company, or any of the Company&#8217;s Affiliates or Subsidiaries, are expressly limited by the provisions of such other employee benefit plans.&nbsp;&nbsp;The provisions of the Plan may not grant or create any rights other than as expressly provided for under such other employee benefit plans. </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-variant: small-caps;font-family:Calibri;font-size:11pt;font-style:normal;text-transform:none;">ARTICLE II</p>
<p style="text-align:center;margin-bottom:8pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-variant: small-caps;font-family:Calibri;font-size:11pt;font-style:normal;text-transform:none;">DEFINITIONS</p>
<p style="text-align:justify;margin-bottom:8pt;margin-top:0pt;text-indent:7.69%;font-weight:bold;font-family:Calibri;font-size:11pt;font-style:normal;text-transform:none;font-variant: normal;">2.1<font style="margin-left:36pt;"></font><font style="font-style:italic;">Affiliate</font><font style="font-weight:normal;">.&nbsp;&nbsp;Any entity that controls, is controlled by, or is under common control with the Company.</font></p>
<p style="text-align:justify;margin-bottom:8pt;margin-top:0pt;text-indent:7.69%;font-weight:bold;font-family:Calibri;font-size:11pt;font-style:normal;text-transform:none;font-variant: normal;">2.2<font style="margin-left:36pt;"></font><font style="font-style:italic;">Base Salary.</font><font style="font-style:italic;font-weight:normal;">&nbsp;&nbsp;</font><font style="font-weight:normal;">The Participant&#8217;s annual rate of base salary payable by the Participant&#8217;s Employer (exclusive, among other things, of bonuses, overtime pay, and special allowances) as in effect immediately prior to the date of such Participant&#8217;s Qualifying Termination.</font></p>
<p style="margin-bottom:8pt;margin-top:0pt;text-indent:7.69%;font-weight:bold;font-family:Calibri;font-size:11pt;font-style:normal;text-transform:n