NON-COMPETITION AGREEMENTNon-Competition Agreement • December 28th, 2020 • Qep Resources, Inc. • Crude petroleum & natural gas • Colorado
This Non-Competition Agreement (this “Agreement”), dated as of December 20, 2020 (the “Agreement Date”), is made by and between QEP Resources, Inc., a Delaware corporation (together with any successor thereto, the “Company”) and [__________] (the “Executive”) (collectively Executive and the Company are referred to herein as the “Parties”).
December 20, 2020 Re: Special Bonus Dear Employee:Special Bonus Agreement • December 28th, 2020 • Qep Resources, Inc. • Crude petroleum & natural gas
Reference is made to that certain Agreement and Plan of Merger (the “Merger Agreement”) among Diamondback Energy, Inc., Bohemia Merger Sub, Inc. (“Merger Sub”) and QEP Resources, Inc. (the “Company”), pursuant to which Merger Sub will be merged with and into the Company (the “Merger”) and that certain Non-Competition Agreement dated as of the date hereof between you and the Company (the “Non-Compete Agreement”). This letter sets forth the terms and conditions of certain compensation you may receive in connection with the Merger and your obligations with respect thereto in the event that the Merger Agreement is terminated for any reason or if you resign prior to the closing of the Merger.
