CALIFORNIA RESOURCES CORPORATION Retention Bonus AgreementCalifornia Resources Corporation • June 25th, 2020 • California Resources Corp • Crude petroleum & natural gas • California
In light of your importance to the continued success of California Resources Corporation (the “Company”) and to provide you with an incentive to remain with the Company during the coming year, the Company will provide you with a cash retention bonus of $<<Bonus Amount>> (your “Retention Bonus”), less applicable withholdings and deductions, on May 21, 2020 (the “Payment Date”), subject to the terms and conditions of this Retention Bonus Agreement (this “Agreement”).
May 19, 2020 <<Employee Name>> Re: Incentive Award Dear <<Employee Name>>California Resources Corp • June 25th, 2020 • Crude petroleum & natural gas
This letter (the “Award Letter”) sets forth our agreement regarding your participation in the California Resources Corporation (the “Company”) Quarterly Incentive Plan (the “Plan”). Capitalized terms used but not defined in this Award Letter have the meanings given to such term in the Plan. For valuable consideration, the receipt and sufficiency of which are hereby acknowledged, you and the Company hereby agree as follows:
