Texas Pacific Land amends exec employment contracts; enhances change-in-control severance, term extended to Dec 2026

Texas Pacific Land Corp

CEO Tyler Glover's base salary confirmed at $850,000; target annual bonus at least 100% of base; LTI target at least 300% of base when combined.
Employment term extended through December 31, 2026, with automatic one-year renewals unless 120-day notice of non-renewal.
Severance on termination without cause or for good reason: 2x average of prior 3 years' base salary and bonus; plus 18 months COBRA.
Within 24 months after change in control, severance multiplier increases to 2.99x; expanded Good Reason includes salary reduction and relocation.
Agreements add mutual nondisparagement clauses and company indemnification for execs' enforcement costs.

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