Common use of Executive Severance Plan Clause in Contracts

Executive Severance Plan. In the event Antero Resources or Antero Midstream adopts a severance plan (each a “Severance Plan”), subject to the terms thereunder and effective as of the dates thereof, Rady shall be eligible to participate in such Severance Plan on the same basis, and at the same level of benefits, as the Chief Executive Officer of Antero Resources or Antero Midstream, as applicable, participates in such Severance Plan, in accordance with its terms. Rady’s eligibility under any such Severance Plan, and the calculation of any benefits thereunder, shall be determined based on the base salary and target bonus applicable to Rady as of the date immediately preceding the Effective Date. For purposes of any such Severance Plan and the determination of any benefits thereunder, the termination of this Agreement and Rady’s employment at the end of the Term will not constitute a termination of Rady’s employment for which Rady will be entitled to severance or other benefits under any such Severance Plan; however, in the event a Change of Control (as defined in the Severance Plan) occurs during the Term, Rady’s employment will be deemed to have been terminated without cause by the Companies upon the closing of such Change of Control. Further, Rady shall have protections limiting or restricting the Companies’ ability to amend, terminate or replace his benefits under any such plan that are at least as favorable as any such protections that apply to any Company Chief Executive Officer that participates in any such plan.