Separation Agreement and General Release of Claims between Nicholas Swyka and Select Water Solutions, LLC
This agreement is between Nicholas Swyka and Select Water Solutions, LLC, with Select Water Solutions, Inc. acknowledging certain provisions. It outlines the terms of Mr. Swyka’s separation from the company, effective March 29, 2024. In exchange for releasing any claims against the company, Mr. Swyka will receive a severance payment equal to one year’s salary plus target bonus, paid over twelve months, a pro-rated 2024 bonus, and COBRA health coverage reimbursements for up to fifteen months. The agreement requires Mr. Swyka to sign and not revoke the agreement to receive these benefits.
Exhibit 10.1
4873-5339-7929v.7
SEPARATION AGREEMENT AND GENERAL RELEASE OF CLAIMS
This SEPARATION AGREEMENT AND GENERAL RELEASE OF CLAIMS (this “Agreement”) is entered into between Nicholas Swyka (“Employee”) and Select Water Solutions, LLC (the “Company”). Select Water Solutions, Inc. (“Select”) enters into this Agreement for the limited purpose of acknowledging and agreeing to Sections 3 and 13 below, and those provisions of this Agreement necessary to interpret and apply them. Employee, the Company, and Select are each referred to herein as a “Party” and together as the “Parties.”
WHEREAS, Employee and the Company (which was formerly known as Select Energy Services, LLC) are parties to that certain Employment Agreement dated March 1, 2019 (the “Employment Agreement”) and reference is made to that certain: (i) Restricted Stock Grant Notice and Restricted Stock Agreement effective February 24, 2024 by and between Employee and Select (which was formerly known as Select Energy Services, Inc.) (the “2024 Restricted Stock Agreement”); (ii) Restricted Stock Grant Notice and Restricted Stock Agreement effective February 24, 2023 by and between Employee and Select (the “2023 Restricted Stock Agreement”); (iii) Restricted Stock Grant Notice and Restricted Stock Agreement effective February 24, 2022 by and between Employee and Select (the “2022 Restricted Stock Agreement”); (iv) Performance Share Unit Grant Notice – Absolute Total Shareholder Return and Performance Share Unit Agreement effective February 24, 2024 (the “2024 PSU Absolute TSR Agreement”); (v) Performance Share Unit Grant Notice – Return on Assets and Performance Share Unit Agreement effective February 24, 2024 (the “2024 PSU ROA Agreement”); (vi) Performance Share Unit Grant Notice – Adjusted Free Cash Flow and Performance Share Unit Agreement effective February 24, 2023 by and between Employee and Select (the “2023 PSU Adjusted FCF Agreement”); (vii) Performance Share Unit Grant Notice – Return on Assets and Performance Share Unit Agreement effective February 24, 2023 by and between Employee and Select (the “2023 PSU ROA Agreement”); (viii) Performance Share Unit Grant Notice – Adjusted Free Cash Flow and Performance Share Unit Agreement effective February 24, 2022 by and between Employee and Select (the “2022 PSU Adjusted FCF Agreement”); and (ix) Performance Share Unit Grant Notice – Return on Assets and Performance Share Unit Agreement effective February 24, 2022 by and between Employee and Select (the “2022 PSU ROA Agreement” and together with the 2024 Restricted Stock Agreement, 2023 Restricted Stock Agreement, 2022 Restricted Stock Agreement, 2024 PSU Absolute TSR Agreement, 2024 PSU ROA Agreement, 2023 PSU Adjusted FCF Agreement, 2023 PSU ROA Agreement, 2022 PSU Adjusted FCF Agreement, and 2022 PSU ROA Agreement, the “Award Agreements”);
WHEREAS, Employee’s employment with the Company ended effective as of the Separation Date (as defined below); and
WHEREAS, the Parties wish to resolve any and all claims that Employee has or may have against the Company or any of the other Company Parties (as defined below), including any claims that Employee may have arising out of Employee’s employment or the end of such employment.
NOW, THEREFORE, in consideration of the promises set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the Parties, the Parties hereby acknowledge and agree as follows:
Exhibit 10.1
Exhibit 10.1
The Separation Payment, Pro-Rata Bonus Payment, and the COBRA Reimbursements are collectively referred to herein as the “Separation Benefits.”
Exhibit 10.1
Exhibit 10.1
Exhibit 10.1
Exhibit 10.1
Exhibit 10.1
[Signatures begin on the following page]
Exhibit 10.1
The Parties have executed this Agreement as of the date(s) set forth beneath their signatures below.
SELECT WATER SOLUTIONS, LLC
By:
Name:
Title:
Date: ________________________________
NICHOLAS SWYKA
Nicholas Swyka
Date: ________________________________
For the limited purpose of acknowledging and agreeing to Sections 3 and 13 of this Agreement, and those provisions necessary to interpret and apply them:
SELECT WATER SOLUTIONS, INC.
By:
Name:
Title:
Date: ________________________________
Signature Page
to
Separation Agreement and General Release of Claims