SEC Contract Filing

Filing Date: 2023-02-27

Document Content:
<DOCUMENT>
<TYPE>EX-10.40
<SEQUENCE>2
<FILENAME>ovv-ex1040_1453.htm
<DESCRIPTION>EX-10.40
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ovv-ex1040_1453.htm
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.40</p>
<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-family:Arial Narrow;font-weight:bold;text-transform:uppercase;font-size:12pt;font-style:normal;font-variant: normal;"><font style="text-decoration:underline;">CHANGE IN CONTROL AGREEMENT</font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-family:Arial Narrow;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">This Change in Control Agreement (this &#8220;<font style="text-decoration:underline;">Agreement</font>&#8221;) is made effective as of March 1, 2022 between Ovintiv Inc., a corporation incorporated under the laws of the State of Delaware (the &#8220;<font style="text-decoration:underline;">Corporation</font>&#8221;), and Meghan N. Eilers of the City of Tomball in the State of Texas (the &#8220;<font style="text-decoration:underline;">Executive</font>&#8221;).</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:bold;font-family:Arial Narrow;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS<font style="font-weight:normal;"> the Board of Directors of the Corporation (the &#8220;</font><font style="text-decoration:underline;font-weight:normal;">Board</font><font style="font-weight:normal;">&#8221;) has determined that it is in the best interests of the Corporation and its shareholders to assure that the Corporation will have the continued dedication of the Executive, notwithstanding the possibility or threat of a Change in Control (as defined herein);</font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:bold;font-family:Arial Narrow;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">AND WHEREAS <font style="font-weight:normal;">the Board believes it is imperative to diminish the inevitable distraction of the Executive by virtue of the personal uncertainties and risks created by a pending or threatened Change of Control and to encourage the Executive&#8217;s full attention and dedication to the Corporation in the event of any threatened or pending Change of Control, and to provide the Executive with compensation and benefits arrangements upon a Change of Control that ensure that the compensation and benefits expectations of the Executive will be satisfied and that provide the Executive with compensation and benefits arrangements that are competitive with those of other companies;</font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:bold;font-family:Arial Narrow;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">AND WHEREAS<font style="font-weight:normal;"> to accomplish these objectives, the Board has caused the Corporation to enter into this Agreement.</font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:7.69%;font-weight:bold;font-family:Arial Narrow;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">NOW THEREFORE<font style="font-weight:normal;">, in consideration of the covenants and agreements hereinafter set forth and for other good and valuable consideration (the receipt and sufficiency whereof are hereby acknowledged by each of the Executive and the Corporation (each, a &#8220;</font><font style="text-decoration:underline;font-weight:normal;">Party</font><font style="font-weight:normal;">&#8221; and collectively, the &#8220;</font><font style="text-decoration:underline;font-weight:normal;">Parties</font><font style="font-weight:normal;">&#8221;), the Parties hereby mutually covenant and agree as follows:</font></p>
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<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;font-weight:bold;font-style:normal;color:#auto;text-transform:none;font-variant: normal;letter-spacing:0pt;font-family:Times New Roman;font-size:12pt;"><font style="Background-color:#auto;text-decoration:none;"></font><font style="text-decoration:underline;color:#000000;"></font><font style="font-family:Arial Narrow;text-decoration:underline;color:#000000;">Term of Agreement</font></p></td></tr></table></div>
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