SEC Contract Filing

Filing Date: 2016-04-28

Document Content:
<DOCUMENT>
<TYPE>EX-10.6
<SEQUENCE>6
<FILENAME>sfy_ex106-04282016.htm
<DESCRIPTION>EXHIBIT 10.6
<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 2016 Workiva -->
 <title>Exhibit</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<div><a name="s11EDB05CA74DA0911CE45D5204124FCA"></a></div><div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">EXECUTION VERSION</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">FIRST AMENDED AND RESTATED <br>EXECUTIVE EMPLOYMENT AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">ROBERT J. BANKS</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">THIS FIRST AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AGREEMENT (&#8220;Agreement&#8221;) is made and entered into by and between Swift Energy Company, a Delaware corporation (the &#8220;Company&#8221;), and Robert J. Banks (&#8220;Employee&#8221;) effective as of the Emergence Date (as such term is defined herein) and as amends, restates and replaces in its entirety the original Employment Agreement dated as of November 4, 2008. Unless otherwise specified, capitalized terms have the meanings set forth herein.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">W I T N E S S E T H:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, on December 31, 2015, the Company and certain of its subsidiaries filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code, and subsequently submitted that certain Joint Plan of Reorganization (the &#8220;Plan&#8221;), which as amended, was confirmed by the United States Bankruptcy Court for the district of Delaware on March 31, 2016;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Company will emerge from bankruptcy pursuant to and upon the effective date of the Plan at 12:01am on such date (the &#8220;Emergence Date&#8221;);</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, prior to the Emergence Date, the Company employs Employee as Executive Vice President and Chief Operating Officer of the Company; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, effective immediately upon the Emergence Date (the &#8220;Effective Date&#8221;), the Company will continue to employ Employee as Executive Vice President and Chief Operating Officer; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, as approved by the Compensation Committee of the Board of Directors of the Company (the &#8220;Board&#8221;), the Company and Employee wish to document certain terms of employment of Employee in such capacity, as set forth in this Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, the Company and Employee hereby agree as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Employment and Term of Employment</font><font style="font-family:inherit;font-size:12pt;">. Subject to the terms and conditions of this Agreement, the Company hereby agrees to continue to employ Employee, and Employee hereby agrees to continue to serve as Executive Vice President and Chief Operating Officer of the Company, or in such other or additional position as is mutually acceptable to both Employee and the Company, for a period of three (3) years commencing on the date hereof (the &#8220;Initial Term&#8221;), which period shall automatically be extended for an additional year at the end of the Initial Term and on each succeeding anniversary of the Effective Date (such period, as so extended from time to time, the &#8220;Term of Employment&#8221;) unless notice to the contrary is given by either party to this </font></div><div><br></div><div><div style="line-height:100%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s11EDB05CA74DA0911CE45D5204124FCA"></a></div><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Agreement not less than 60 days prior to the end of the Initial Term or any such succeeding anniversary date of this Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.&#160;&#160;&#160;&#160;</fon