Special Incentive Agreement between Fidelity Exploration and Production Company and Pat O'Bryan

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

Fidelity Exploration and Production Company (FEPC) offers Pat O'Bryan a one-time incentive payment of $150,000, subject to standard payroll taxes. To receive the payment, O'Bryan must remain a full-time employee through December 31, 2015, and maintain a performance rating of "Meets Expectations" or higher during 2015. If these conditions are met, payment will be made in January 2016, unless the company is sold in 2015, in which case the dates may change.

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EX-10.2 3 exhibit102-obryan.htm EXHIBIT 10.2 Wdesk | Exhibit 10.2 - O'Bryan

Exhibit 10.2



Location:
Denver
Date:
November 5, 2014
Writer:
CEO
Subject:
Special Incentive


CONFIDENTIAL

Pat O'Bryan:

As a key member of Fidelity Exploration and Production Company (FEPC), your continued engagement and leadership in our efforts is critical to making FEPC a highly valued company. In recognition of your continued commitment to the success of the company, we have approved a special one-time incentive for you.

The specifics of this incentive are as follows:

1. We will award you a one time payment of $150,000, less ordinary payroll withholding taxes, if you satisfy the following two criteria:

A. Remain an active, full-time employee of FEPC through December 31,
2015** and

B. Maintain a performance rating of "Meets Expectations" or higher during
2015.

2. Assuming the foregoing criteria are met, we will issue payment the month of January, 2016**.

Hopefully you view this as our recognition of your contributions as well as our expectation that you continue to contribute to making FEPC a highly valued company.

Congratulations!

/s/ Kent Wells
Kent Wells
CEO


cc:     Christine Rutkowski


** - These dates could be changed if the company is sold in 2015.