PERFORMANCE SHARE AGREEMENTPerformance Share Agreement • March 29th, 2013 • Bonanza Creek Energy, Inc. • Crude petroleum & natural gas
THIS PERFORMANCE SHARE AGREEMENT (this “Agreement”), is entered into as of the Grant Date (as defined below), by and between Grantee (as defined below) and Bonanza Creek Energy, Inc., a Delaware corporation (the “Company”).
Re: Employment Terms and Conditions – [POSITION]Employment Agreement • March 29th, 2013 • Bonanza Creek Energy, Inc. • Crude petroleum & natural gas
You are currently [a party to an [Employment Agreement](1) with Bonanza Creek Energy, Inc., a Delaware corporation (the “Company”) dated [ ] (the “Employment Agreement”)] OR [employed by the Company pursuant to an offer letter, dated [ ] (the “Offer Letter”)]. In consideration of the benefits described in this letter (this “Employment Letter”) to which you are not otherwise entitled, you hereby agree to waive any and all rights that you have under and with respect to the [Employment Agreement OR Offer Letter] and understand and agree that from and after the date of this Employment Letter, you shall have no further rights under or with respect to the [Employment Agreement OR Offer Letter] and it shall be terminated in all respects. You will retain your position as [TITLE] and your annual salary (the “Base Salary”) will remain at the same level as in effect immediately prior to the date of this letter. In addition to the foregoing and, in summary, your compensation and benefits as of the
