Mach Natural Resources LP (MNR) has shared an announcement.
Daniel T. Reineke, Jr. has resigned from his executive role at Mach Natural Resources, and in recognition of his service, received a compensation package that includes a significant cash payment and accelerated vesting of phantom units, tied to restrictive covenants and a repayment clause for any breach. Separately, the company’s Board introduced an Executive Severance Plan offering tiered severance benefits to executives upon termination, contingent on the fulfillment of certain conditions and adjusted for tax considerations, which supersedes previous severance arrangements.
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