SEC Contract Filing

Filing Date: 2024-06-18

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d834624dex101.htm
<DESCRIPTION>EX-10.1
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<TITLE>EX-10.1</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B><I>Execution Version </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SEPARATION AGREEMENT AND GENERAL RELEASE OF CLAIMS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This SEPARATION AGREEMENT AND GENERAL RELEASE OF CLAIMS </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(this &#147;<U>Agreement</U>&#148;) is entered into by and among Evan Kiefer (&#147;<U>Executive</U>&#148;) and Black Stone Natural Resources
Management Company, a Delaware corporation (the &#147;<U>Company</U>&#148;). Black Stone Minerals GP, L.L.C., a Delaware limited liability company (the &#147;<U>General Partner</U>&#148;), joins this Agreement for the limited purpose of agreeing to
<U>Sections 2</U> and <U>13</U> below and those provisions of this Agreement necessary to interpret and apply them. The Company, the General Partner, and Executive are each referred to herein individually as a &#147;<U>Party</U>&#148; and
collectively as the &#147;<U>Parties</U>.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, Executive was employed by the Company as Senior Vice President, Chief
Financial Officer&nbsp;&amp; Treasurer; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, Executive&#146;s employment with the Company ended on May&nbsp;28, 2024 (the
&#147;<U>Separation Date</U>&#148;), and the Company and the General Partner wish to provide Executive with certain compensation and benefits as set forth herein, the receipt of which is dependent upon Executive&#146;s timely entry into this
Agreement and compliance with the terms of Articles III, IV and V of the Severance Agreement between Executive and the Company with an Effective Date of November&nbsp;3, 2023 (the &#147;<U>Severance Agreement</U>&#148;); and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, for the purposes of avoiding the uncertainty, expense, and burden associated with any dispute, the Parties desire to settle
any potential disputes, including those that may arise by virtue of either the employment relationship between Executive and the Company or the end of such employment relationship. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>NOW, THEREFORE</B>, in consideration of the promises and benefits set forth herein, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged by the Parties, the Parties hereby agree as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>1.</B> <B><U>Separation
from Employment</U></B><B><I>. </I></B>Executive&#146;s employment with the Company ended as of the Separation Date. As of the Separation Date, Executive was no longer employed by the Company or any other Released Party (as defined below). As of the
Separation Date, Executive is deemed to have automatically resigned (a)&nbsp;as an officer of the Company and each of its Affiliates (as defined in the Severance Agreement), as applicable, and (b)&nbsp;from the board of managers, board of directors,
or similar governing body of each of the Company&#146;s Affiliates (as applicable) and any other corporation, limited liability company, or other entity in which the Company or any of its Affiliates holds an equity interest or with respect to which
board (or similar governing body) Executive serves or served as the designee or other representative of the Company or any of its Affiliates. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.</B> <B><U>Separation Benefits</U>. </B>Provided that Executive (x)&nbsp;executes this Agreement on or after the Separation Date and on
or before June&nbsp;18, 2024, returns a copy of this Agreement that has been executed by him to the Company so that it is received by Steve Putman, Senior Vice President and General Counsel, 1001 Fannin Street, Suite 2020, Houston, Texas 77002
(email: <U>sputman@blackstoneminerals.com</U>) no later than 5:00 pm Houston, Texas time on June&nbsp;18, 2024; and (y)&nbsp;remains in compliance with the other terms and conditions set forth in this Agreement, Executive shall receive the following
consideration: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) The Company shall pay Executive $601,775.00 (the &#147;<U>Severance Payment</U>&#148;) in a single lump sum cash
payment, which payment shall be made within sixty (60)&nbsp;days after the Separation Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) If Executive timely and properly elects
to continue coverage for Executive and Executive&#146;s spouse and eligible dependents, if any, under the Company&#146;s group health plans pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985 (&#147;<U>COBRA</U>&#148;) similar in
the amounts and types of coverage provided by the Company to Executive prior to the Separation Date, then for a period of 12 months following the Separa