Jones Energy,Inc. (NYSE:JONE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January14, 2019, Jones Energy, LLC, a Texas limited liability company and a wholly owned subsidiary of the Company, entered into a Second Amended and Restated Employment Agreement (the “Second Restated Employment Agreement”) with Mr.Giesler, in his capacity as the Company’s Chief Executive Officer, which amended and restated the first amended and restated employment agreement entered into with Mr.Giesler on September24, 2018 and effective July12, 2018 (the “First Restated Employment Agreement”) in order to align Mr.Giesler’s severance arrangements with those arrangements provided to other executive officers in the Severance Agreements.
to the Second Restated Employment Agreement, in the event Mr.Giesler’s employment is terminated (a)by the Company without Cause (as defined in the Second Restated Employment Agreement), (b)by Mr.Giesler for Good Reason (as defined in the Second Restated Employment Agreement) or (c)as a result of the Company’s non-extension of the term of his employment, in addition to the severance benefits to which Mr.Giesler was already entitled as set forth in the First Restated Employment Agreement, Mr.Giesler would also be entitled to an amount equal to one times his target bonus for the calendar year during which his termination occurs, with such amount paid in a single lump sum payment on the sixtieth (60th) day following the date of termination, subject to certain conditions (the “New Severance Payment”). Other than the addition of the New Severance Payment, the Second Restated Employment Agreement is substantially identical to the First Restated Employment Agreement.
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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JONES ENERGY,INC. |
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Date: January14, 2019 |
By: |
/s/ Carl F. Giesler,Jr. |
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Carl F. Giesler,Jr. |
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Chief Executive Officer |
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Jones Energy, Inc. Exhibit
EX-10.1 2 a19-2833_1ex10d1.htm EX-10.1 Exhibit 10.1 SEVERANCE AGREEMENT THIS SEVERANCE AGREEMENT (this “Agreement”) is made effective as of January 1,…
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About Jones Energy,Inc. (NYSE:JONE)
Jones Energy, Inc. is an independent oil and gas company engaged in the exploration, development, production and acquisition of oil and natural gas properties. The Company’s assets are located within the Anadarko and Arkoma basins of Texas and Oklahoma. It owns leasehold interests in oil and natural gas producing properties, as well as in undeveloped acreage, located in the Anadarko and Arkoma basins in Texas and Oklahoma. The Company’s oil is generally sold under short-term, extendable and cancellable agreements with unaffiliated purchasers. The Company’s natural gas is sold at delivery points at or near producing wells to natural gas gathering and marketing companies. Its total estimated proved reserves are approximately 101.7 million barrels of oil equivalent (MMBoe). Approximately 25% of its total estimated proved reserves consist of oil, over 32% consist of natural gas liquids (NGLs) and over 43% consist of natural gas. Its properties include over 1,020 gross producing wells.
