First Amendment to SandRidge Energy, Inc. Special Severance Plan
Contract Categories:
Human Resources
›
Severance Agreements
Summary
SandRidge Energy, Inc. has amended its Special Severance Plan to extend the period during which eligible employees may receive severance benefits if they are separated from employment. The amendment changes the plan's end date from March 31, 2019, to March 31, 2020. This means eligible employees who are separated from the company through March 31, 2020, may qualify for severance benefits under the plan. The amendment is effective as of December 17, 2018.
EX-10.3.8 3 sdq1201910q-ex1038firs.htm EXHIBIT 10.3.8 FIRST AMENDMENT TO SPECIAL SEVERANCE PLAN Document
Exhibit 10.3.8
FIRST AMENDMENT TO THE
SANDRIDGE ENERGY, INC. SPECIAL SEVERANCE PLAN
THIS FIRST AMENDMENT TO THE SANDRIDGE ENERGY, INC. SPECIAL SEVERANCE PLAN (this “First Amendment”), is effective as of December 17, 2018.
WHEREAS, SandRidge Energy, Inc. (the “Company”) has adopted the SandRidge Energy, Inc. Special Severance Plan (the “Plan”), effective April 1, 2018 (the “Plan Effective Date”), to provide certain benefits to Eligible Employees, as defined therein, who are separated from employment following the Plan Effective Date through March 31, 2019 in circumstances that make them eligible for benefits under the Plan.
WHEREAS, the Company intends to extend the Plan to be effective through March 31, 2020 and therefore desires to amend the Plan;
NOW, THEREFORE, the Plan is hereby amended as follows:
1.Each of Paragraphs 1 and 9 of the Plan is hereby amended by replacing “March 31, 2019” with “March 31, 2020”.
SANDRIDGE ENERGY, INC. | ||||||||
| /s/ William M. Griffin, Jr. | ||||||||
| William M. Griffin, Jr. | ||||||||
| President and Chief Executive Officer | ||||||||
