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Exhibit
10.5
QUICKSILVER RESOURCES
INC.
NONQUALIFIED STOCK OPTION
AGREEMENT
Director:
____________________________
Number of
Shares: ____________________
Date of Grant:
________________________
Exercise Price:
________________________
Expiration
Date: _______________________
Type of Option:
Nonqualified stock option
1. Under
the terms and conditions of the Quicksilver Resources Inc. Second
Amended and Restated 2006 Equity Plan (the “Plan”), a
copy of which is attached hereto and incorporated herein by
reference, Quicksilver Resources Inc., a Delaware corporation (the
“Company”), grants to the individual whose name is set
forth above (the “Director”) an option to purchase the
number of shares of the Company’s Common Stock, par value
$0.01 per share (“Common Stock”), set forth above at
the price per share set forth above (the
“Option”). Terms not defined in this
Agreement have the meanings set forth in the Plan.
2. The
Option will be for a term commencing on the Date of Grant set forth
above and ending at 5:00 p.m. Central Time on the Expiration Date
set forth above. During the term hereof, the Option will
become vested and exercisable in accordance with the schedule set
forth below, provided that the Director has remained a member of
the Board through each such vesting date:
|
Portion of Option
Exercisable
|
|
On and After
|
|
|
|
|
|
[1/3
|
|
First
Anniversary of Date of Grant]
|
|
[1/3
|
|
Second
Anniversary of Date of Grant]
|
|
[1/3
|
|
Third
Anniversary of Date of Grant]
|
Notwithstanding the vesting dates set forth
above, in the event of a Change in Control while the Director is a
member of the Board, the nonv
|
