Battalion Oil approves $5M change-in-control bonus pool and updated director comp

BATTALION OIL CORP

Non-employee director cash retainer increased to $225,000/yr; Chairman gets extra $75,000/yr; committee chairs get extra $25,000/yr, effective July 1, 2026.
Board establishes $5.0M cash bonus pool payable upon change in control, allocable among execs and key employees; CPI-U +200bps annual adjustment from Jan 2027.
Waterfall Merger Incentive Program provides incentive pool of 10-20% of value increase above base (measured from May 1, 2026) based on IRR thresholds, expiring Dec 31, 2030.
Board confirms vesting of 35,419 RSUs from 2020 LTIP upon change of control event; satisfaction of condition already determined.
Retention and Incentive Plan replaces prior March 2025 arrangements; awards subject to consummation of qualifying change in control.

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