[Quicksilver Resources Inc. Letterhead]

EX-10.2 3 kwk10-q20130930ex102.htm LETTER TO STAN G. PAGE DATED JULY 15, 2013 KWK 10-Q 2013.09.30 EX10.2
Exhibit 10.2
[Quicksilver Resources Inc. Letterhead]

July 15, 2013

Stan G. Page
6804 Whittier Lane
Colleyville, TX 76034
Dear Stan:
Effective July 15, 2013, Quicksilver Resources is pleased to offer you a retention bonus with an aggregate value of $488,250 to be awarded in the form of cash and a restricted stock grant of Quicksilver Resources stock in appreciation of your efforts on behalf of the Company. The cash will vest and be paid and the restricted stock will vest (in each case, less applicable required taxes and authorized deductions) per the following schedule:

Vesting Date
 
Cash
 
Restricted Stock

July 15, 2014
 
$
122,063

 
 
July 15, 2015
 
$
122,063

 
 
July 15, 2016
 
 
 
147,955


To become vested in an installment of the retention bonus you must be an active, regular full-time employee in good standing and remain in continuous employment of the Company or one of its subsidiaries, or any successor thereof, from the date of this letter agreement through the applicable installment payment/vesting date.
In the event that your employment ceases on or before an installment payment/vesting date because of (i) termination through no fault of your own as a result of a reduction in force, or (ii) an Involuntary Termination as defined in the Quicksilver Resources Inc. Amended and Restated Executive Change in Control Retention Incentive Plan, the unpaid/unvested installments will be paid/vested within 60 days of the date of your termination and subject to your execution and non-revocation during such period of a release agreement satisfactory to the Company; provided that, in the case of any cash payment that could be paid during a period that begins in one taxable year and ends in the subsequent taxable year, it will be paid in the subsequent taxable year, to the extent required to avoid the additional tax imposed pursuant to Section 409A of the Internal Revenue Code.

The retention bonus will not affect any annual merit increase or the award or amount of any annual bonus or long–term incentive to which you may be entitled to receive pursuant to applicable bonus or equity plans that are approved from time to time by the Company.

This letter agreement (together with, as applicable, any document that evidences the award of your restricted stock) is the entire agreement between the parties and any amendments or revisions of this agreement must be in writing and signed by both parties. This letter agreement does not constitute an employment agreement and shall not be construed to change the at-will-employment terms under which you are employed.

Please indicate your acceptance of this agreement by signing the attached duplicate copy of this agreement and return it to the Human Resources Department in Fort Worth, Attn: Anne Self, no later than July 22, 2013.
Thank you for your loyalty to and efforts on behalf of Quicksilver.    
Sincerely,

/s/ Glenn Darden

Glenn Darden
President/CEO
 
 
I have read and understand the contents of this retention agreement. I accept the provisions of the agreement as set forth above.


  /s/ Stan G. Page                  7-19-13        
Stan G. Page                    Date