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TEXAS PACIFIC LAND TRUST : Change in Directors or Principal Officers (form 8-K)

06/30/2020 | 05:06pm

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment

of Certain Officers, Compensatory Arrangements of Certain Officers.

On June 30, 2020, Micheal W. Dobbs agreed to join Texas Pacific Land Trust (the
"Trust") as Senior Vice President and General Counsel, effective August 1, 2020.

Mr. Dobbs has been a partner at Kelley Drye & Warren LLP since 2016, having
nearly two decades of experience in commercial, tort and environmental
litigation matters, with an emphasis on environmental litigation. In addition,
he has extensive experience representing clients in a variety of commercial,
real estate, energy, land use and environmental regulatory matters. From 2008 to
2016, Mr. Dobbs was shareholder of Jackson Gilmour & Dobbs, PC, an environmental
and litigation law firm in Houston, Texas that merged with Kelley Drye & Warren
in 2016. Mr. Dobbs does not have any family relationship with any trustee or
executive officer of the Trust.

On June 30, 2020, the Trust entered into an Indemnification Agreement with each
of its Trustees, John R. Norris III and David E. Barry (each, an
"Indemnification Agreement"). The Indemnification Agreements are identical in
form and each provides that, subject to certain limitations set forth therein,
the Trust will indemnify the Trustee to the fullest extent permitted by
applicable law, against losses or expenses incurred in relation to the Trustee's
service to the Trust. The indemnification agreements also provide that the Trust
will advance expenses, subject to certain limitations, to each Trustee in
connection with proceedings covered by the indemnification agreement.

The foregoing description of the Indemnification Agreements is qualified in its
entirety by reference to such agreements, a form of which is filed herewith as
Exhibit 10.1 and incorporated by reference herein.

Sameer Parasnis, Chief Commercial Officer of the Trust, is no longer employed by
the Trust effective June 24, 2020.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

10.1 Form of Indemnification Agreement
104 Cover Page

Interactive Data File (embedded within the Inline XBRL



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