Item 8.01 Other Events




Goodrich Petroleum Corporation (the "Company") has taken certain actions in
order to finalize the grant of awards under the Company's long-term cash
incentive plan (the "LTCIP") to the Company's named executive officers. The
LTCIP awards are materially consistent with the terms of the LTCIP that were
previously disclosed in the Company's Definitive Proxy Statement, filed with the
Securities and Exchange Commission on April 7, 2021.



The target amount of the LTCIP award granted to the Company's named executive
officers is (i) $2,000,000 for Walter G. Goodrich, the Company's Chairman and
Chief Executive Officer, (ii) $2,000,000 for Robert C. Turnham, Jr., the
Company's President and Chief Operating Officer, and (iii) $650,000 for Michael
J. Killelea, the Company's Executive Vice President, General Counsel & Corporate
Secretary. One-half of such target amount is subject to the "ROIC" performance
goal shown below, which is generally measured over a single three-year
performance period, and one-half of such target amount is subject to the "FCF"
performance goal shown below, which is generally measured over three one-year
performance periods.



                             ROIC Performance Goal



                                                      Performance Period:

January 1, 2021 through December 31, 2021


                                                     Threshold                    Target                    Maximum
ROIC Performance Hurdle                                       43.45 %                    51.12 %                    58.79 %
Earned Percentage (of one-third of ROIC Annual
Target Amount)                                                   50 %                      100 %                      200 %




"ROIC" means, with respect to the performance period noted above, the result
(expressed as a percentage) of (i) the Company's earnings before interest,
taxes, depreciation and amortization ("EBITDA"), divided by (ii) the Company's
average invested capital (total assets less current liabilities).



                              FCF Performance Goal



                                                     Performance Period 1: Calendar Year 2021
                                                   Threshold            Target          Maximum
FCF Performance Hurdle                           $   10,530,000      $ 16,200,000     $ 21,860,000
Earned Percentage (of one-third of the FCF
Target Amount)
(per performance period)                                     50 %             100 %            200 %

"FCF" means, with respect to each separate calendar year performance period noted above, the result (expressed as a dollar amount) of (i) (a) the Company's discretionary cash flow, minus (b) the Company's net capital expenditures.





Both performance metric payouts are subject to annual Board approved budgets and
are subject to customary terms and conditions including withholding and change
of control provisions at target.



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