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KWK > SEC Filings for KWK > Form 8-K on 17-Jul-2013All Recent SEC Filings

Show all filings for QUICKSILVER RESOURCES INC

Form 8-K for QUICKSILVER RESOURCES INC


17-Jul-2013

Change in Directors or Principal Officers


Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 15, 2013, the Compensation Committee of Quicksilver Resources Inc. (the "Company") approved the award of cash and equity retention bonuses to John C. Regan, Senior Vice President - Chief Financial Officer and Chief Accounting Officer, and Stan G. Page, Senior Vice President - U.S. Operations.

The cash retention awards are in the amounts of $247,500 and $244,125 for Messrs. Regan and Page, respectively, and will be payable in two equal installments on July 15, 2014 and 2015; provided that the recipient is an active, regular full time employee in good standing and remains in continuous employment of the Company or one of its subsidiaries, or any successor thereof, through the applicable payment date. In the event the employment of a recipient is terminated before a payment date due to (i) a termination through no fault of such recipient as a result of a reduction in force or (ii) an "involuntary termination" (as defined in the Company's Amended and Restated Executive Change in Control Retention and Incentive Plan (the "Executive Plan")), any unpaid installments will vest and be paid in connection with such termination, subject to the execution and non-revocation of a release agreement.

The equity retention awards are in the form of restricted stock and had grant date values of $247,500 (150,000 shares of Company common stock) and $244,125 (147,955 shares of Company common stock) for Messrs. Regan and Page, respectively, and will vest on July 15, 2016; provided that the recipient is an active, regular full time employee in good standing and remains in continuous employment of the Company or one of its subsidiaries, or any successor thereof, through the applicable vesting date. In the event the employment of a recipient is terminated before a vesting date due to (i) a termination through no fault of such recipient as a result of a reduction in force or (ii) an "involuntary termination" (as defined in the Executive Plan), any unvested installments will vest in connection with such termination, subject to the execution and non-revocation of a release agreement.


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