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| PVG > SEC Filings for PVG > Form 8-K on 22-Oct-2008 | All Recent SEC Filings |
22-Oct-2008
Change in Directors or Principal Officers, Financial Statements a
On October 17, 2008, the Compensation and Benefits Committee of the Board of Directors of Penn Virginia Resource GP, LLC (the "General Partner"), general partner of Penn Virginia Resource Partners, L.P. ("PVR"), approved the amendment and restatement of the Executive Change of Control Severance Agreements that the General Partner has entered into with Keith D. Horton, Co-President-Coal of the General Partner, and Ronald K. Page, Co-President-Midstream of the General Partner (the "Change of Control Agreements"). The Change of Control Agreements were amended to (i) comply with Section 409A of the Internal Revenue Code of 1986, as amended and (ii) provide that any long-term equity compensation granted to the executive by Penn Virginia GP Holdings, L.P. ("PVG") shall become 100% vested upon a change of control of PVR. The Change of Control Agreements will supercede existing change of control agreements. The Change of Control Agreements will not increase the amounts reported in PVR's 2007 Annual Report on Form 10-K as payable to Messrs. Horton and Page in connection with a change of control.
PVG owns an approximately 37% limited partner interest in PVR and 100% of the General Partner, which holds a 2% general partner interest in PVR.
The Change of Control Agreements are filed as Exhibits to this Current Report on Form 8-K.
(d) Exhibits.
10.1 Amended and Restated Executive Change of Control Severance Agreement dated October 17, 2008 between Penn Virginia Resource GP, LLC and Keith D. Horton (incorporated by reference to Exhibit 10.1 to Penn Virginia Resource Partners, L.P.'s Current Report on Form 8-K filed on October 22, 2008).
10.2 Amended and Restated Executive Change of Control Severance Agreement dated October 17, 2008 between Penn Virginia Resource GP, LLC and Ronald K. Page (incorporated by reference to Exhibit 10.2 to Penn Virginia Resource Partners, L.P.'s Current Report on Form 8-K filed on October 22, 2008).
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