Document:

EX-10.1

 Exhibit 10.1 

SUPERIOR ENERGY SERVICES, INC. 

AMENDED AND RESTATED 

2013 STOCK INCENTIVE PLAN 

1. Purpose. The purpose of the Amended and Restated 2013 Stock Incentive Plan (the “Plan”) of Superior Energy
Services, Inc. (“Superior”) is to increase stockholder value and to advance the interests of Superior and its subsidiaries (collectively, the “Company”) by furnishing stock-and cash-based economic incentives (the
“Incentives”) designed to attract, retain, reward and motivate officers, directors, employees, consultants and advisors to the Company and to strengthen the mutuality of interests between service providers and Superior’s
stockholders. Incentives consist of opportunities to purchase or receive shares of Common Stock, $.001 par value per share, of Superior (the “Common Stock”) or cash, which may or may not be valued in relation to Common Stock, on
terms determined under the Plan. As used in the Plan, the term “subsidiary” means any corporation, limited liability company or other entity, of which Superior owns (directly or indirectly) within the meaning of section 424(f) of
the Internal Revenue Code of 1986, as amended (the “Code”), 50% or more of the total combined voting power of all classes of stock, membership interests or other equity interests issued thereby. 

2. Administration. 

2.1 Composition. The Plan shall generally be administered by the Compensation Committee of the Board of
Directors of Superior (the “Board”) or by a subcommittee thereof (the “Committee”). The Committee shall consist of not fewer than two members of the Board, each of whom shall (a) qualify as a “non-employee
director” under Rule 16b-3 under the Securities Exchange Act of 1934 (the “1934 Act”) or any successor rule, (b) qualify as an “outside director” under Section 162(m)
of the Code (“Section 162(m)”), and (c) qualify as an “independent director” under the rules of the New York Stock Exchange. 

2.2 Authority. The Committee shall have plenary authority to award Incentives under the Plan, to interpret the Plan, to establish any
rules or regulations relating to the Plan that it determines to be appropriate, to enter into agreements with or provide notices to participants as to the terms of the Incentives (the “Incentive Agreements”) and to make any other
determination that it believes necessary or advisable for the proper administration of the Plan. Its decisions in matters relating to the Plan shall be final and conclusive on the Company and participants. The Committee may delegate its authority
hereunder to the extent provided in Section 3 hereof. 
 3. Eligible Participants. Officers, directors and employees of the
Company and persons providing services as consultants or advisors to the Company shall become eligible to receive Incentives under the Plan when designated by the Committee. Employees may be designated individually or by groups or categories, as the
Committee deems appropriate. With respect to participants not subject to Section 16 of the 1934 Act 

 
or Section 162(m) of the Code, the Committee may delegate to appropriate officers of the Company its authority to designate participants, to determine the size and type of Incentives to be
received by those participants and to set and modify the terms of such Incentives; provided, however, that the resolution so authorizing any such officer shall specify the total number of Incentives such officer may award and such actions shall be
treated for all purposes as if taken by the Committee, and provided further that the per share exercise price of any options granted by an officer, rather than by the Committee, shall be equal to the Fair Market Value (as defined in
Section 13.11) of a share of Common Stock on the later of the date of grant or the date the participant’s employment with or service to the Company commences. 

4. Types of Incentives. Incentives may be granted under the Plan to eligible participants in the forms of (a) incentive stock
options; (b) non-qualified stock options; (c) restricted stock, (d) restricted stock units; (e) stock appreciation rights (“SARs”) and (f) Other Stock-Based Awards (as defined in Section 10), and
(g) Cash-Based Performance Awards (as defined in Section 11). 
 5. Shares Subject to the Plan. 

5.1 Number of Shares. Subject to adjustment as provided in Section 13.5, a total of 14,850,000 shares of Common Stock
shall be authorized for grant under the Plan. 
 5.2 Share Counting. 

A. The above authorized Plan limit shall be reduced by one share of Common Stock for every one share of Common Stock subject to a
stock option or a SAR granted under the Plan, and by 1.6 shares of Common Stock for every one share of Common Stock subject to Incentives granted under the Plan in a form other than stock options or SARs. 

B. To the extent any shares of Common Stock covered by a stock option or SAR granted under the Plan are not delivered to a participant
or permitted transferee because the Incentive is forfeited or canceled, or shares of Common Stock are not delivered because an Incentive is paid or settled in cash, such shares shall not be deemed to have been delivered for purposes of determining
the maximum number of shares of Common Stock available for delivery under this Plan and such shares may again be issued under the Plan. Cash-Based Performance Awards shall have no effect on the Plan limit in Section 5.1. 

C. In the event that shares of Common Stock issued as an Incentive under the Plan are forfeited or reacquired by the Company pursuant
to rights reserved upon issuance thereof, such forfeited or reacquired shares may again be issued under the Plan. 
 D. The
following shares of Common Stock may not again be made available for issuance as Incentives under the Plan: (i) shares of Common Stock delivered or withheld in payment of the exercise of a stock option, (ii) shares of Common

  
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Stock delivered or withheld from payment of an Incentive to satisfy tax obligations with respect to the Incentive, and (iii) shares of Common Stock repurchased on the open market with the
proceeds of the exercise price of a stock option. 
 E. With respect to SARs, if the SAR is payable in shares of Common Stock, all
shares to which the SARs relate are counted against the Plan limits, rather than the net number of shares delivered upon exercise of the SAR. 

F. Any share of Common Stock that again becomes available for grant under the Plan shall be added back to the total number of shares
available for grant under the Plan as one share if such share was subject to a stock option or SAR, and as 1.6 shares if such share was subject to an Incentive other than a stock option or SAR. 

5.3 Limitations on Awards. Subject to adjustments as provided in Section 13.5, the following additional limitations are imposed
under the Plan: 
 A. The maximum number of shares of Common Stock that may be issued upon exercise of stock options intended to
qualify as incentive stock options under Section 422 of the Code shall be 14,850,000 shares. 
 B. Except as set forth in
Section 5.3E. with respect to awards to non-management directors, the maximum number of shares of Common Stock that may be covered by Incentives granted under the Plan, including stock options and SARS, to any one individual during any one
calendar-year period shall be 1,000,000 shares. The foregoing provision shall be construed in a manner consistent with Section 162(m). 

C. No more than 742,500 shares of Common Stock may be issued as restricted stock, restricted stock units and Other Stock-Based Awards
(as defined in Section 10) without compliance with the minimum vesting periods provided in Sections 7.2, 8.2 and 10.2, provided that the shares issued under this limit may not be issued to employees who are subject to Section 16 of
the 1934 Act. Further, all stock options and SARs granted to employees must comply with the minimum vesting periods provided in Sections 6.3 and 9.3. 

D. The maximum value of a Cash-Based Performance Award or an Other Stock-Based Award that is valued in dollars rather than shares of
Common Stock (whether or not paid in Common Stock) scheduled to be paid out to any one participant in any fiscal year shall be $10,000,000. 

E. The maximum number of shares of Common Stock that may be covered by Incentives granted under the Plan to a non-management director
during any one calendar-year period shall be 50,000 shares. 
 5.4 Type of Common Stock. Common Stock issued under the Plan may be
authorized and unissued shares or issued shares held as treasury shares. 
 6. Stock Options. A stock option is a right to purchase
shares of Common Stock from Superior. Stock options granted under the Plan may be incentive stock 

  
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options (as such term is defined in Section 422 of the Code) or non-qualified stock options. Any option that is designated as a non-qualified stock option shall not be treated as an
incentive stock option. Each stock option granted by the Committee under this Plan shall be subject to the following terms and conditions: 

6.1 Price. The exercise price per share shall be determined by the Committee, subject to adjustment under Section 13.5; provided
that in no event shall the exercise price be less than the Fair Market Value of a share of Common Stock on the date of grant, except in the case of a stock option granted in assumption of or substitution for an outstanding award of a company
acquired by the Company or with which the Company combines. 
 6.2 Number. The number of shares of Common Stock subject to the option
shall be determined by the Committee, subject to Section 5 and subject to adjustment as provided in Section 13.5. 
 6.3
Duration and Time for Exercise. The term of each stock option shall be determined by the Committee, but shall not exceed a maximum term of ten years. Each stock option shall become exercisable at such time or times during its term as shall be
determined by the Committee, provided that stock options granted to employees may not become fully exercisable prior to the third anniversary of the date of grant, with incremental vesting of portions of the award over the three-year period
permitted (provided, however, that no portion of the award may be scheduled to vest prior to the first anniversary of the date of grant). Notwithstanding the foregoing, the Committee may at any time in its discretion accelerate the exercisability of
any stock option. 
 6.4 Repurchase. Upon approval of the Committee, the Company may repurchase a previously granted stock option
from a participant by mutual agreement before such option has been exercised by payment to the participant of the amount per share by which: (i) the Fair Market Value of the Common Stock subject to the option on the business day immediately
preceding the date of purchase exceeds (ii) the exercise price, or by payment of such other mutually agreed upon amount; provided, however, that no such repurchase shall be permitted if prohibited by Section 6.6. 

6.5 Manner of Exercise. A stock option may be exercised, in whole or in part, by giving written notice to the Company, specifying the
number of shares of Common Stock to be purchased. The exercise notice shall be accompanied by the full purchase price for such shares. The option price shall be payable in United States dollars and may be paid (a) in cash; (b) by check;
(c) by delivery or attestation of ownership of shares of Common Stock, which shares shall be valued for this purpose at the Fair Market Value on the business day immediately preceding the date such option is exercised; (d) by delivery of
irrevocable written instructions to a broker approved by the Company (with a copy to the Company) to immediately sell a portion of the shares, issuable under the option and to deliver promptly to the Company the amount of sale proceeds (or loan
proceeds if the broker lends funds to the participant for delivery to the Company) to pay the exercise price; (e) if approved by the Committee, through a net exercise procedure whereby the optionee surrenders the option in exchange for that
number of shares of 

  
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Common Stock with an aggregate Fair Market Value equal to the difference between the aggregate exercise price of the options being surrendered and the aggregate Fair Market Value of the shares of
Common Stock subject to the option, or (f) in such other manner as may be authorized from time to time by the Committee. 
 6.6
Repricing. Except for adjustments pursuant to Section 13.5 or actions permitted to be taken by the Committee under Section 13.10C. in the event of a Change of Control, unless approved by the stockholders of the Company, (a) the
exercise or base price for any outstanding option or SAR granted under this Plan may not be decreased after the date of grant and (b) an outstanding option or SAR that has been granted under this Plan may not, as of any date that such option or
SAR has a per share exercise or base price that is greater than the then current Fair Market Value of a share of Common Stock, be surrendered to the Company as consideration for the grant of a new option or SAR with a lower exercise or base price,
shares of restricted stock, restricted stock units, an Other Stock-Based Award, a cash payment or Common Stock. 
 6.7 No Dividend
Equivalent Rights. Participants holding stock options shall not be entitled to any dividend equivalent rights for any period of time prior to exercise of the stock option. 

6.8 Incentive Stock Options. Notwithstanding anything in the Plan to the contrary, the following additional provisions shall apply to
the grant of stock options that are intended to qualify as incentive stock options (as such term is defined in Section 422 of the Code): 

A. Any incentive stock option agreement authorized under the Plan shall contain such other provisions as the Committee shall deem
advisable, but shall in all events be consistent with and contain or be deemed to contain all provisions required in order to qualify the options as incentive stock options. 

B. All incentive stock options must be granted within ten years from the date on which this Plan is adopted by the Board of Directors.

 C. No incentive stock options shall be granted to any non-employee or to any participant who, at the time such option is granted,
would own (within the meaning of Section 422 of the Code) stock possessing more than 10% of the total combined voting power of all classes of stock of the employer corporation or of its parent or subsidiary corporation. 

D. The aggregate Fair Market Value (determined with respect to each incentive stock option as of the time such incentive stock option
is granted) of the Common Stock with respect to which incentive stock options are exercisable for the first time by a participant during any calendar year (under the Plan or any other plan of Superior or any of its subsidiaries) shall not exceed
$100,000. To the extent that such limitation is exceeded, the excess options shall be treated as non-qualified stock options for federal income tax purposes. 

  
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 7. Restricted Stock. 

7.1 Grant of Restricted Stock. The Committee may award shares of restricted stock to such eligible participants as the Committee
determines pursuant to the terms of Section 3. An award of restricted stock shall be subject to such restrictions on transfer and forfeitability provisions and such other terms and conditions, including the attainment of specified performance
goals, as the Committee may determine, subject to the provisions of the Plan. To the extent restricted stock is intended to qualify as “performance-based compensation” under Section 162(m), it must be granted subject to the attainment
of performance goals as described in Section 12 below and meet the additional requirements imposed by Section 162(m). 
 7.2
The Restricted Period. At the time an award of restricted stock is made, the Committee shall establish a period of time during which the transfer of the shares of restricted stock shall be restricted and after which the shares of restricted
stock shall be vested (the “Restricted Period”). Except for shares of restricted stock that vest based on the attainment of performance goals and except as provided in Section 5.3C., the Restricted Period shall be a minimum of three
years, with incremental vesting of portions of the award over the three-year period permitted (provided, however, that no portion of the award may be scheduled to vest prior to the first anniversary of the date of grant). If the vesting of the
shares of restricted stock is based upon the attainment of performance goals, a minimum Restricted Period of one year is allowed. Each award of restricted stock may have a different Restricted Period. The expiration of the Restricted Period shall
also occur as provided under Section 13.3 in the event of termination of employment under the circumstances provided in the Incentive Agreement and in the event of a Change of Control of the Company if so provided in the Incentive Agreement.

 7.3 Escrow. The participant receiving restricted stock shall enter into an Incentive Agreement with the Company setting forth the
conditions of the grant. Any certificates representing shares of restricted stock shall be registered in the name of the participant and deposited with the Company, together with a stock power endorsed in blank by the participant. Each such
certificate shall bear a legend in substantially the following form: 
 The transferability of this certificate and the shares of Common
Stock represented by it are subject to the terms and conditions (including conditions of forfeiture) contained in the Superior Energy Services, Inc. 2013 Stock Incentive Plan, as it may be amended (the “Plan”), and an agreement entered
into between the registered owner and Superior Energy Services, Inc. thereunder. Copies of the Plan and the agreement are on file at the principal office of the Company. 

Alternatively, in the discretion of the Company, ownership of the shares of restricted stock and the appropriate restrictions shall be reflected in the
records of the Company’s transfer agent and no physical certificates shall be issued. 
 7.4 Dividends on Restricted Stock. Any
and all cash and stock dividends paid with respect to the shares of restricted stock shall be subject to any 

  
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restrictions on transfer, forfeitability provisions or reinvestment requirements as the Committee may, in its discretion, prescribe in the Incentive Agreement. If the vesting of the shares of
restricted stock is based upon the attainment of performance goals, any and all cash and stock dividends paid with respect to the shares of restricted stock shall be subject to the attainment of the performance goals applicable to the underlying
shares of restricted stock. 
 7.5 Forfeiture. In the event of the forfeiture of any shares of restricted stock under the terms
provided in the Incentive Agreement (including any additional shares of restricted stock that may result from the reinvestment of cash and stock dividends, if so provided in the Incentive Agreement), such forfeited shares shall be surrendered and
any certificates cancelled. The participants shall have the same rights and privileges, and be subject to the same forfeiture provisions, with respect to any additional shares received pursuant to Section 13.5 due to a recapitalization or other
change in capitalization. 
 7.6 Expiration of Restricted Period. Upon the expiration or termination of the Restricted Period and the
satisfaction of any other conditions prescribed by the Committee, the restrictions applicable to the restricted stock shall lapse and the number of shares of restricted stock with respect to which the restrictions have lapsed shall be delivered,
free of all such restrictions and legends, except any that may be imposed by law, to the participant or the participant’s estate, as the case may be. 

7.7 Rights as a Stockholder. Subject to the terms and conditions of the Plan and subject to any restrictions on the receipt of
dividends that may be imposed in the Incentive Agreement, each participant receiving restricted stock shall have all the rights of a stockholder with respect to shares of stock during the Restricted Period, including without limitation, the right to
vote any shares of Common Stock. 
 8. Restricted Stock Units. 

8.1 Grant of Restricted Stock Units. A restricted stock unit, or RSU, represents the right to receive from the Company on the
respective scheduled vesting or payment date for such RSU, one share of Common Stock. An award of restricted stock units may be subject to the attainment of specified performance goals or targets, forfeitability provisions and such other terms and
conditions as the Committee may determine, subject to the provisions of the Plan. To the extent an award of restricted stock units is intended to qualify as performance based compensation under Section 162(m), it must be granted subject to the
attainment of performance goals as described in Section 12 and meet the additional requirements imposed by Section 162(m). 

8.2 Vesting Period. At the time an award of restricted stock units is made, the Committee shall establish a period of time during
which the restricted stock units shall vest (the “Vesting Period”). Each award of restricted stock units may have a different Vesting Period. Except for restricted stock units that vest based on the attainment of performance goals
and except as provided in Section 5.3C., a Vesting Period of at least three years is required, with incremental vesting of portions of the 

  
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award over the three-year period permitted (provided, however, that no portion of the award may be scheduled to vest prior to the first anniversary of the date of grant). If the vesting of the
restricted stock units is based upon the attainment of performance goals, a minimum Vesting Period of one year is allowed. The acceleration of the expiration of the Vesting Period shall occur as provided under Section 13.3 in the event of
termination of employment under the circumstances provided in the Incentive Agreement and in the event of a Change of Control of the Company if so provided in the Incentive Agreement. 

8.3 Dividend Equivalent Accounts. Subject to the terms and conditions of this Plan and the applicable Incentive Agreement, as well as
any procedures established by the Committee, the Committee may determine to pay dividend equivalent rights with respect to RSUs, in which case, unless determined by the Committee to be paid currently, the Company shall establish an account for the
participant and reflect in that account any securities, cash or other property comprising any dividend or property distribution with respect to the share of Common Stock underlying each RSU. The participant shall have no rights to the amounts or
other property credited to such account until the applicable RSU vests. Notwithstanding the above, if the vesting of the RSUs is based upon the attainment of performance goals, any and all dividend equivalent rights with respect to the RSUs shall be
subject to the attainment of the performance goals applicable to the underlying RSUs. 
 8.4 Rights as a Stockholder. Subject to the
restrictions imposed under the terms and conditions of this Plan and subject to any other restrictions that may be imposed in the Incentive Agreement, each participant receiving restricted stock units shall have no rights as a stockholder with
respect to such restricted stock units until such time as shares of Common Stock are issued to the participant. 
 9. Stock Appreciation
Rights. 
 9.1 Grant of Stock Appreciation Rights. A stock appreciation right, or SAR, is a right to receive, without payment to
the Company, a number of shares of Common Stock, cash or any combination thereof, the number or amount of which is determined pursuant to the formula set forth in Section 9.5. Each SAR granted by the Committee under the Plan shall be subject to
the terms and conditions provided herein. 
 9.2 Number. Each SAR granted to any participant shall relate to such number of shares of
Common Stock as shall be determined by the Committee, subject to adjustment as provided in Section 13.5. 
 9.3 Duration and Time
for Exercise. The term of each SAR shall be determined by the Committee, but shall not exceed a maximum term of ten years. Each SAR shall become exercisable at such time or times during its term as shall be determined by the Committee, provided
that SARs granted to employees may not become fully exercisable prior to the third anniversary of the date of grant, with incremental vesting of portions of the award over the three-year period permitted (provided, however, that no portion of the
award may be scheduled to vest prior to the first anniversary of the date of grant). Notwithstanding the foregoing, the Committee may at any time in its discretion accelerate the exercisability of any SAR. 

  
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 9.4 Exercise. A SAR may be exercised, in whole or in part, by giving written notice to the
Company, specifying the number of SARs that the holder wishes to exercise. The date that the Company receives such written notice shall be referred to herein as the “Exercise Date.” The Company shall, within 30 days of an Exercise
Date, deliver to the exercising holder the shares of Common Stock to which the holder is entitled pursuant to Section 9.5 or cash or both, as provided in the Incentive Agreement. 

9.5 Payment. The number of shares of Common Stock which shall be issuable upon the exercise of a SAR payable in Common Stock shall be
determined by dividing: 
 A. the number of shares of Common Stock as to which the SAR is exercised, multiplied by the amount of the
appreciation in each such share (for this purpose, the “appreciation” shall be the amount by which the Fair Market Value of a share of Common Stock subject to the SAR on the Exercise Date exceeds the “Base Price,” which is
an amount, not less than the Fair Market Value of a share of Common Stock on the date of grant, which shall be determined by the Committee at the time of grant, subject to adjustment under Section 13.5); by 

B. the Fair Market Value of a share of Common Stock on the Exercise Date. 

No fractional shares of Common Stock shall be issued upon the exercise of a SAR; instead, the holder of a SAR shall be entitled to purchase
the portion necessary to make a whole share at its Fair Market Value on the Exercise Date. 
 9.6 No Dividend Equivalent Rights.
Participants holding SARs shall not be entitled to any dividend equivalent rights for any period of time prior to exercise of the stock option. 

10. Other Stock-Based Awards. 

10.1 Grant of Other Stock-Based Awards. Subject to the limitations described in Section 10.2 hereof, the Committee may grant to
eligible participants “Other Stock-Based Awards,” which shall consist of awards (other than options, restricted stock, restricted stock units or SARs described in Sections 6 through 9 hereof) paid out in shares of Common Stock or
the value of which is based in whole or in part on the value of shares of Common Stock. Other Stock-Based Awards may be awards of shares of Common Stock, awards of phantom stock or may be denominated or payable in, valued in whole or in part by
reference to, or otherwise based on or related to, shares of, or appreciation in the value of, Common Stock (including, without limitation, securities convertible or exchangeable into or exercisable for shares of Common Stock), as deemed by the
Committee consistent with the purposes of this Plan. The Committee shall determine the terms and conditions of any Other Stock-Based Award (including which rights of a stockholder, if any, the recipient shall have with respect to Common Stock

  
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associated with any such award) and may provide that such award is payable in whole or in part in cash. An Other Stock-Based Award may be subject to the attainment of such specified performance
goals or targets as the Committee may determine, subject to the provisions of this Plan. To the extent that an Other Stock-Based Award is intended to qualify as “performance-based compensation” under Section 162(m), it must be granted
subject to the attainment of performance goals as described in Section 12 below and meet the additional requirements imposed by Section 162(m). 

10.2 Limitations. At the time an Other Stock-Based Award is granted, the Committee shall establish a period of time during which the
Other Stock-Based Award shall vest (the “Vesting Period”). Each Other Stock-Based Award may have a different Vesting Period. Except for Other Stock-Based Awards that vest based on the attainment of performance goals and except as provided
in Section 5.3C., a Vesting Period of at least three years is required, with incremental vesting of portions of the award over the three-year period permitted (provided, however, that no portion of the award may be scheduled to vest prior to
the first anniversary of the date of grant). If the vesting of the Other Stock-Based Award is based upon the attainment of performance goals, a minimum Vesting Period of one year is allowed. 

11. Cash-Based Performance Awards. The Committee may grant Incentives in the form of “Cash-Based Performance Awards”
to eligible participants, which shall consist of the opportunity to earn cash awards based on performance. A Cash-Based Performance Award shall be subject to such terms and conditions, including the attainment of specified performance goals, as the
Committee may determine, subject to the provisions of the Plan. To the extent that a Cash-Based Performance Award is intended to qualify as “performance-based compensation” for purposes of Section 162(m), it must be made subject to
the attainment of performance goals as described in Section 12 below and meet the additional requirements imposed by Section 162(m). At the time that a Cash-Based Performance Award is granted, the Committee shall establish the vesting
criteria for such Incentive including, as applicable, the performance period and the time or times at which any payout shall be deemed vested and payable. 

12. Performance Goals for Section 162(m) Awards. To the extent that shares of restricted stock, restricted stock units,
Other Stock-Based Awards or Cash-Based Performance Awards granted under the Plan are intended to qualify as “performance-based compensation” under Section 162(m), the vesting, grant or payment of such awards shall be conditioned on
the achievement of one or more performance goals and must satisfy the other requirements of Section 162(m). The performance goals pursuant to which such awards shall vest, be granted or be paid out shall be any or a combination of the following
performance measures applied to the Company, Superior, a division or a subsidiary: earnings per share; earnings before interest, taxes, depreciation and amortization (EBITDA); operating income; return on assets; an economic value added measure;
stockholder return; earnings; stock price; return on equity; return on total capital; return on invested capital; return on invested capital relative to cost of capital; pre-tax income; safety performance; reduction of expenses; free cash flow or
increase in cash flow; or DSO (days sales outstanding) improvement. For any performance period, such performance objectives may be measured on an absolute basis or relative to a group 

  
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of peer companies selected by the Committee, relative to internal goals or relative to levels attained in prior years. The performance goals may be subject to such adjustments as are specified in
advance by the Committee. 
 13. General. 

13.1 Duration. No Incentives may be granted under the Plan after May 22, 2025; provided, however, that subject to
Section 13.9, the Plan shall remain in effect after such date with respect to Incentives granted prior to that date until all such Incentives have either been satisfied by the issuance of shares of Common Stock or otherwise been terminated
under the terms of the Plan and all restrictions imposed on shares of Common Stock in connection with their issuance under the Plan have lapsed. 

13.2 Transferability. No Incentives granted hereunder may be transferred, pledged, assigned or otherwise encumbered by a participant
except: (a) by will; (b) by the laws of descent and distribution; (c) if permitted by the Committee and so provided in the Incentive Agreement or an amendment thereto, pursuant to a domestic relations order, as defined in the Code; or
(d) as to options only, if permitted by the Committee and so provided in the Incentive Agreement or an amendment thereto, (i) to Immediate Family Members, (ii) to a partnership in which the participant and/or Immediate Family Members,
or entities in which the participant and/or Immediate Family Members are the sole owners, members or beneficiaries, as appropriate, are the sole partners, (iii) to a limited liability company in which the participant and/or Immediate Family
Members, or entities in which the participant and/or Immediate Family Members are the sole owners, members or beneficiaries, as appropriate, are the sole members, or (iv) to a trust for the sole benefit of the participant and/or Immediate
Family Members. “Immediate Family Members” shall be defined as the spouse and natural or adopted children or grandchildren of the participant and their spouses. To the extent that an incentive stock option is permitted to be
transferred during the lifetime of the participant, it shall be treated thereafter as a nonqualified stock option. Any attempted assignment, transfer, pledge, hypothecation or other disposition of Incentives, or levy of attachment or similar process
upon Incentives not specifically permitted herein, shall be null and void and without effect. 
 13.3 Effect of Termination of Employment
or Death. In the event that a participant ceases to be an employee of the Company or to provide services to the Company for any reason, including death, disability, early retirement or normal retirement, any Incentives may be exercised, shall
vest or shall expire at such times as may be determined by the Committee and provided in the Incentive Agreement. 
 13.4 Additional
Conditions. Anything in this Plan to the contrary notwithstanding: (a) the Company may, if it shall determine it necessary or desirable for any reason, at the time of award of any Incentive or the issuance of any shares of Common Stock
pursuant to any Incentive, require the recipient of the Incentive, as a condition to the receipt thereof or to the receipt of shares of Common Stock issued pursuant thereto, to deliver to the Company a written representation of present intention to
acquire the Incentive or the shares of Common Stock issued pursuant thereto for his 

  
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own account for investment and not for distribution; and (b) if at any time the Company further determines, in its sole discretion, that the listing, registration or qualification (or any
updating of any such document) of any Incentive or the shares of Common Stock issuable pursuant thereto is necessary on any securities exchange or under any federal or state securities or blue sky law, or that the consent or approval of any
governmental regulatory body is necessary or desirable as a condition of, or in connection with the award of any Incentive, the issuance of shares of Common Stock pursuant thereto, or the removal of any restrictions imposed on such shares, such
Incentive shall not be awarded or such shares of Common Stock shall not be issued or such restrictions shall not be removed, as the case may be, in whole or in part, unless such listing, registration, qualification, consent or approval shall have
been effected or obtained free of any conditions not acceptable to the Company. 
 13.5 Adjustment. In the event of any
recapitalization, reclassification, stock dividend, stock split, combination of shares or other similar change in the Common Stock, the number of shares of Common Stock then subject to the Plan, including shares subject to outstanding Incentives,
and any and all other limitations provided in the Plan limiting the number of shares of Common Stock that may be issued hereunder shall be adjusted in proportion to the change in outstanding shares of Common Stock (including but not limited to
adjustments of the authorized Plan and award limits set forth in Section 5 and of the manner and ratio by which Incentives other than stock options and SARs are counted under the Plan). In the event of any such adjustments, the exercise price
of any option, the Base Price of any SAR and the performance objectives of any Incentive, shall also be adjusted as and to the extent appropriate, in the reasonable discretion of the Committee, to provide participants with the same relative rights
before and after such adjustment. No substitution or adjustment shall require the Company to issue a fractional share under the Plan and the substitution or adjustment shall be limited by deleting any fractional share. 

13.6 Withholding.
 A.
The Company shall have the right to withhold from any payments made or stock issued under the Plan or to collect as a condition of payment, issuance or vesting, any taxes required by law to be withheld. At any time that a participant is required
to pay to the Company an amount required to be withheld under applicable income tax laws in connection with an Incentive, the participant may, subject to disapproval by the Committee, satisfy this obligation in whole or in part by electing (the
“Election”) to deliver currently owned shares of Common Stock or to have the Company withhold shares of Common Stock, in each case having a value equal to the minimum statutory amount required to be withheld under federal, state and
local law. The value of the shares to be delivered or withheld shall be based on the Fair Market Value of the Common Stock on the date that the amount of tax to be withheld shall be determined (“Tax Date”). 

B. Each Election must be made prior to the Tax Date. The Committee may disapprove of any Election, may suspend or terminate the right
to make Elections, or may provide with respect to any Incentive that the right to make Elections 

  
 12 

 
shall not apply to such Incentive. If a participant makes an election under Section 83(b) of the Code with respect to shares of restricted stock, an Election to have shares withheld to
satisfy withholding taxes is not permitted to be made. 
 13.7 No Continued Employment. No participant under the Plan shall have any
right, because of his or her participation, to continue in the employ of the Company for any period of time or to any right to continue his or her present or any other rate of compensation. 

13.8 Deferral Permitted. Payment of an Incentive may be deferred at the option of the participant if permitted in the Incentive
Agreement. Any deferral arrangement shall comply with Section 409A of the Code. 
 13.9 Amendments to or Termination of the Plan.
The Board may amend or discontinue this Plan at any time; provided, however, that no such amendment may: 
 A. materially revise
the Plan without the approval of the stockholders. A material revision of the Plan includes (i) except for adjustments permitted herein, a material increase to the maximum number of shares of Common Stock that may be issued through the Plan,
(ii) a material increase to the benefits accruing to participants under the Plan, (iii) a material expansion of the classes of persons eligible to participate in the Plan, (iv) an expansion of the types of awards available for grant
under the Plan, (v) a material extension of the term of the Plan and (vi) a material change that reduces the price at which shares of Common Stock may be offered through the Plan; 

B. amend Section 6.6 to permit repricing of options or SARs without the approval of stockholders; or 

C. materially impair, without the consent of the recipient, an Incentive previously granted, except that the Company retains all of
its rights under Section 13.10. 
 13.10 Change of Control. 

A. A “Change of Control” shall mean: 

(i) the acquisition by any person of beneficial ownership of 50% or more of the outstanding shares of the Common Stock or 50% or more of the
combined voting power of Superior’s then outstanding securities entitled to vote generally in the election of directors; provided, however, that for purposes of this subsection (i), the following acquisitions shall not constitute a Change of
Control: 
 (a) any acquisition (other than a Business Combination (as defined below) which constitutes a Change of Control under
Section 13.10A.(iii) hereof) of Common Stock directly from the Company, 

  
 13 

 (b) any acquisition of Common Stock by the Company, 

(c) any acquisition of Common Stock by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation
controlled by the Company, or 
 (d) any acquisition of Common Stock by any corporation or other entity pursuant to a Business Combination
that does not constitute a Change of Control under Section 13.10A.(iii) hereof; or 
 (ii) individuals who, as of January 1,
2013, constituted the Board of Directors of Superior (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board of Directors; provided, however, that any individual becoming a director subsequent to
such date whose election, or nomination for election by Superior’s stockholders, was approved by a vote of at least two-thirds of the directors then comprising the Incumbent Board shall be considered a member of the Incumbent Board, unless such
individual’s initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a
person other than the Incumbent Board; or 
 (iii) consummation of a reorganization, share exchange, merger or consolidation (including any
such transaction involving any direct or indirect subsidiary of Superior) or sale or other disposition of all or substantially all of the assets of the Company (a “Business Combination”); provided, however, that in no such case
shall any such transaction constitute a Change of Control if immediately following such Business Combination: 
 (a) the individuals and
entities who were the beneficial owners of Superior’s outstanding Common Stock and Superior’s voting securities entitled to vote generally in the election of directors immediately prior to such Business Combination have direct or indirect
beneficial ownership, respectively, of more than 50% of the then outstanding shares of common stock, and more than 50% of the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors of
the surviving or successor corporation, or, if applicable, the ultimate parent company thereof (the “Post-Transaction Corporation”), and 

(b) except to the extent that such ownership existed prior to the Business Combination, no person (excluding the Post-Transaction Corporation
and any employee benefit plan or related trust of either Superior, the Post-Transaction Corporation or any subsidiary of either corporation) beneficially owns, directly or indirectly, 25% or more of the then outstanding shares of common stock of the
corporation resulting from such Business Combination or 25% or more of the combined voting power of the then outstanding voting securities of such corporation, and 

(c) at least a majority of the members of the board of directors of the Post-Transaction Corporation were members of the Incumbent Board at
the time of the execution of the initial agreement, or of the action of the Board of Directors, providing for such Business Combination; or 

(iv) approval by the stockholders of Superior of a complete liquidation or dissolution of Superior. 

  
 14 

 For purposes of this Section 13.10, the term “person” shall mean a natural person or
entity, and shall also mean the group or syndicate created when two or more persons act as a syndicate or other group (including, without limitation, a partnership or limited partnership) for the purpose of acquiring, holding, or disposing of a
security, except that “person” shall not include an underwriter temporarily holding a security pursuant to an offering of the security. 

B. Upon a Change of Control of the type described in clause A.(i) or A.(ii) of this Section 13.10 or immediately prior to any
Change of Control of the type described in clause A.(iii) or A.(iv) of this Section 13.10, and if determined by the Committee and so provided in the Incentive Agreement, all outstanding stock options, SARs, and other Incentives in the nature of
rights that may be exercised shall become fully exercisable, and all time-based vesting restrictions on outstanding Incentives shall lapse. Further, except as otherwise provided in the Incentive Agreement or any other Plan document governing an
Incentive, the target payout opportunities attainable under all outstanding performance-based Incentives shall be deemed to have been fully earned as of the effective date of the Change of Control based upon an assumed achievement of all relevant
performance goals at the “target” level and there shall be pro rata payout to participants within thirty (30) days following the effective date of the Change of Control (or any later date required by pursuant to Section 13.15)
based upon the length of time within the performance period that has elapsed prior to the Change of Control. As used in the immediately preceding sentence and subject to Section 13.15, ‘immediately prior’ to the Change of Control
shall mean sufficiently in advance of the Change of Control to permit the grantee to take all steps reasonably necessary (i) if an optionee, to exercise any such option fully and (ii) to deal with the shares purchased or acquired under any
such option or other Incentive and any formerly restricted shares on which restrictions have lapsed so that all types of shares may be treated in the same manner in connection with the Change of Control as the shares of Common Stock of other
stockholders. 
 C. No later than 30 days after a Change of Control of the type described in subsections A.(i) or A.(ii) of this
Section 13.10 and no later than 30 days after the approval by the Board of a Change of Control of the type described in subsections A.(iii) or A.(iv) of this Section 13.10, the Committee, acting in its sole discretion without the consent
or approval of any participant (and notwithstanding any removal or attempted removal of some or all of the members thereof as directors or Committee members), may act to effect one or more of the alternatives listed below, which may vary among
individual participants and which may vary among Incentives held by any individual participant: 
 (i) require that all outstanding
options, SARs or Other Stock-Based Awards be exercised on or before a specified date (before or after such Change of Control) fixed by the Committee, after which specified date all unexercised options, SARs and Other Stock-Based Awards and all
rights of participants thereunder shall terminate, 

  
 15 

 (ii) make such equitable adjustments to Incentives then outstanding as the Committee deems
appropriate to reflect such Change of Control (provided, however, that the Committee may determine in its sole discretion that no adjustment is necessary), 

(iii) provide for mandatory conversion of some or all of the outstanding options, SARs, restricted stock units, or Other Stock-Based Awards
held by some or all participants as of a date, before or after such Change of Control, specified by the Committee, in which event such options, SARs, restricted stock units and Other Stock-Based Awards shall be deemed automatically cancelled and the
Company shall pay, or cause to be paid, to each such participant an amount of cash per share equal to the excess, if any, of the Change of Control Value of the shares subject to such option, SAR, restricted stock unit or Other Stock-Based Award, as
defined and calculated below, over the exercise price of such options or the exercise or base price of such SARs, restricted stock units or Other Stock-Based Awards or, in lieu of such cash payment, the issuance of Common Stock or securities of an
acquiring entity having a Fair Market Value equal to such excess; provided, however, that no such mandatory conversion shall occur if it would result in the imposition of a penalty on the participant under Section 409A of the Code as a result
of such cash payment or issuance of securities, or 
 (iv) provide that thereafter, upon any exercise or payment of an Incentive that
entitles the holder to receive Common Stock, the holder shall be entitled to purchase or receive under such Incentive in lieu of the number of shares of Common Stock then covered by Incentive, the number and class of shares of stock or other
securities or property (including, without limitation, cash) to which the holder would have been entitled pursuant to the terms of the agreement providing for the reorganization, share exchange, merger, consolidation or asset sale, if, immediately
prior to such Change of Control, the holder had been the record owner of the number of shares of Common Stock then covered by such Incentive. 

D. For the purposes of paragraph (iii) of Section 13.10C., the “Change of Control Value” shall equal the
amount determined by whichever of the following items is applicable: 
 (i) the per share price to be paid to stockholders of Superior in
any such merger, consolidation or other reorganization, 
 (ii) the price per share offered to stockholders of Superior in any tender offer
or exchange offer whereby a Change of Control takes place, 

  
 16 

 (iii) in all other events, the Fair Market Value per share of Common Stock into which such
options being converted are exercisable, as determined by the Committee as of the date determined by the Committee to be the date of conversion of such options, or 

(iv) in the event that the consideration offered to stockholders of Superior in any transaction described in this Section 13.10 consists
of anything other than cash, the Committee shall determine the fair cash equivalent of the portion of the consideration offered that is other than cash. 

13.11 Definition of Fair Market Value. Whenever “Fair Market Value” of Common Stock shall be determined for purposes
of this Plan, except so provided below in connection with a cashless exercise through a broker, it shall be determined as follows: (i) if the Common Stock is listed on an established stock exchange or any automated quotation system that
provides sale quotations, the closing sale price for a share of the Common Stock on such exchange or quotation system on the applicable date, or if no sale of the Common Stock shall have been made on that day, on the next preceding day on which
there was a sale of the Common Stock; (ii) if the Common Stock is not listed on any exchange or quotation system, but bid and asked prices are quoted and published, the mean between the quoted bid and asked prices on the applicable date, and if
bid and asked prices are not available on such day, on the next preceding day on which such prices were available; and (iii) if the Common Stock is not regularly quoted, the fair market value of a share of Common Stock on the applicable date as
established by the Committee in good faith. In the context of a cashless exercise through a broker, the “Fair Market Value” shall be the price at which the Common Stock subject to the stock option is actually sold in the market to pay the
option exercise price. 
 13.12 Recovery Policy. Each Incentive Agreement shall contain a provision permitting the Company to recover
any Incentive granted under the Plan if (i) the Company’s financial statements are required to be restated at any time within the three-year period following the final payout of the Incentive and the participant is determined to be
responsible, in whole or in part, for the restatement, or (ii) the Incentive is subject to any clawback policies the Company may adopt in order to conform to the requirements of Section 954 of the Dodd-Frank Wall Street Reform and Consumer
Protection Act and any resulting rules issued by the SEC or national securities exchanges thereunder. All determinations regarding the applicability of these provisions shall be in the discretion of the Committee. 

13.13 No Trust or Fund Created. Neither the Plan nor any Incentive shall create or be construed to create a trust or separate fund of
any kind or a fiduciary relationship between the Company and a participant or any other person. To the extent that any person acquires a right to receive payments from the Company pursuant to an Incentive, such right shall be no greater than the
right of any unsecured general creditor of the Company. 
 13.14 Participants Outside the United States. Notwithstanding any
provision of the Plan to the contrary, in order to comply with the laws in other countries 

  
 17 

 
in which the Company operates or has employees, consultants or advisors, the Committee, in its sole discretion, shall have the power and authority to (a) determine which persons employed
outside the United States are eligible to participate in the Plan; (b) amend or vary the terms and provisions of the Plan and the terms and conditions of any Incentive granted to persons who reside outside the United States; (c) establish
subplans and modify exercise procedures and other terms and procedures to the extent such actions may be necessary or advisable; and (d) take any action, before or after an Incentive is granted, that it deems advisable to obtain or comply with
any necessary local government regulatory exemptions or approvals. 
 13.15 Section 409A of the Code. 

A. It is intended that the payments and benefits provided under the Plan and any Incentive shall either be exempt from the application
of, or comply with, the requirements of Section 409A of the Code. The Plan and all Incentive Agreements shall be construed in a manner that effects such intent. Nevertheless, the tax treatment of the benefits provided under the Plan or any
Incentive is not warranted or guaranteed. Neither the Company, its Affiliates nor their respective directors, officers, employees or advisers (other than in his or her capacity as a participant) shall be held liable for any taxes, interest,
penalties or other monetary amounts owed by any participant or other taxpayer as a result of the Plan or any Incentive. 
 B.
Notwithstanding anything in the Plan or in any Incentive Agreement to the contrary, to the extent that any amount or benefit that would constitute non-exempt “deferred compensation” for purposes of Section 409A of the Code
(“Non-Exempt Deferred Compensation”) would otherwise be payable or distributable, or a different form of payment (e.g., lump sum or installment) would be effected, under the Plan or any
Incentive Agreement by reason of the occurrence of a Change of Control, or the participant’s disability or separation from service, such Non-Exempt Deferred Compensation will not be payable or distributable to the participant, and/or such
different form of payment will not be effected, by reason of such circumstance unless the circumstances giving rise to such Change of Control, disability or separation from service meet any description or definition of “change in control
event,” “disability” or “separation from service,” as the case may be, in Section 409A of the Code and applicable regulations (without giving effect to any elective provisions that may be available under such
definition). This provision does not prohibit the vesting of any Incentive upon a Change of Control, disability or separation from service, however defined. If this provision prevents the payment or distribution of any amount or benefit, or the
application of a different form of payment of any amount or benefit, such payment or distribution shall be made at the time and in the form that would have applied absent the Change of Control, disability or separation from service, as applicable.

  
 18Ex_101

		
			EXHIBIT 10.1
		

		
			 
		

		
			 
		

		
			 
		

		
			AMENDED AND RESTATED EMPLOYMENT AGREEMENT
		

		
			 
		

		
			This Amended and Restated Employment Agreement (this “Agreement”)  dated as of February 27, 2015 (the “Effective Date”),  is by and between KLX Inc., a Delaware corporation (the “Company”), and Amin J. Khoury (“Executive”).
		

		
			 
		

		
			WHEREAS, Executive and the Company entered into an Employment Agreement dated as of September 15, 2014, that became effective on December 16, 2014 (the “Employment Agreement”); and
		

		
			 
		

		
			WHEREAS, Executive, having provided services to the Company and its predecessors since August 1, 1987, agrees to continue to provide services for an additional period as provided herein, and the Company wishes to procure such services; and
		

		
			 
		

		
			WHEREAS, Executive and the Company wish to amend and restate the Employment Agreement in its entirety in the manner set forth herein.
		

		
			 
		

		
			NOW, THEREFORE, in consideration of the mutual promises hereinafter set forth, the parties agree as follows:
		

		
			 
		

		
			1.           Arrangement.  Executive shall provide to the Company, and the Company shall accept from Executive, the services set forth in Section 3.2 below, subject to the terms and conditions set forth in this Agreement.
		

		
			 
		

		
			2.           Term.  Subject to Section 6 hereof, the Company agrees to employ Executive, and Executive agrees to be employed by the Company, in each case pursuant to this Agreement, from the Effective Date through the third anniversary of the Effective Date, and the Executive’s employment hereunder shall automatically be extended on the first anniversary date of the Effective Date and on each subsequent anniversary of the Effective Date for additional one (1) year periods until either the Company or the Executive gives the other party at least thirty (30) days’ written notice prior to the anniversary of the Effective Date of any such year of its or his desire to not renew the then current term of this Agreement, unless the Executive’s employment is terminated earlier pursuant to this Agreement as hereinafter set forth.  For purposes of this Agreement, the term “Employment Term” shall mean the initial three (3) year period and all extensions thereof in accordance with this Section 2, if any, as aforesaid, provided that the Executive continues to be employed by the Company; provided, however, that for the purposes of Section 6 of this Agreement, the Employment Term shall run through the last day of the then current Employment Term (assuming for this purpose Executive’s continued employment through such last day).
		

		
			 
		

		
			3.           Capacity, Services and Performance.
		

		
			 
		

		
			3.1           Capacity.  Executive shall serve the Company as its Chairman of the Board of Directors of the Company (the “Board”) and Chief Executive Officer, or in such other Board or executive capacity as the Board may designate from time to time, but only upon agreement with Executive.
		

		
			 
		

		
			3.2           Services.  In the capacity set forth in Section 3.1 above, Executive shall be retained by the Company and shall perform such duties and responsibilities on behalf of the Company as Executive and the Board shall by mutual agreement from time to time determine.
		

		
			 
		

		
			 
		

		

		

		 

 

		3.3           Performance.  During the Employment Term, Executive shall use his business judgment, skill and knowledge to the advancement of the Company’s interests and to the discharge of his duties and responsibilities hereunder; provided, however, that Executive shall be required only to devote so much time as Executive determines is reasonably necessary to discharge his duties as Chairman of the Board and Chief Executive Officer, and, subject to the provisions of Section 5 below, Executive may engage in other business activities during the Employment Term, including, without limitation, serving as Executive Chairman of B/E Aerospace, Inc., a Delaware corporation (“B/E”), as a member of the board of directors of and as a consultant to B/E.
		

		
			 
		

		
			4.           Compensation and Benefits.
		

		
			 
		

		
			4.1           Salary.  During the Employment Term, Executive shall receive an annual salary (the “Salary”) of one million dollars ($1,000,000) during each year of the Employment Term.  The Salary shall be reviewed annually and may be adjusted upward (but not downward) by the Board or the Compensation Committee of the Board (the “Compensation Committee”) in its discretion.
		

		
			 
		

		
			4.2           Bonuses.  Executive may receive bonuses from the Company when, as and if determined from time to time by the Compensation Committee, with the target annual incentive opportunity for Executive to be no less than one hundred and seventy-five percent (175%) of Executive’s then current Salary (“Target Bonus”).  Any such bonuses paid to Executive shall be in addition to the Salary then in effect.  The incentive bonus shall be paid in accordance with Company policy, but in no event later than March 15th of the year following the year in respect of which Executive earned such bonus.
		

		
			 
		

		
			4.3           Benefits.   Except to the extent equivalent benefits are provided by B/E (including post-retirement benefits), during the Employment Term, Executive shall participate in all employee benefit plans, life insurance plans, disability income plans, incentive compensation plans and other benefit plans, as may be from time to time in effect for executives of the Company.  In addition, Executive shall be entitled to all rights and benefits pursuant to the Company’s travel policy, which shall be no less favorable for Executive than his rights and benefits pursuant to B/E’s travel policy as of July 1, 2014.
		

		
			 
		

		
			4.4           Business Expenses.  The Company shall pay or reimburse Executive for all reasonable business expenses incurred or paid by him during the Employment Term in the performance of his services for the Company.
		

		
			 
		

		
			4.5           Equity Incentive Compensation.  So long as employed by the Company, Executive shall be eligible to participate in any applicable equity incentive compensation program of the Company on the terms set forth by the Compensation Committee in its sole discretion, which program may include stock options, restricted stock awards or units (“Equity Awards”).  The grant date fair value of the annual Equity Awards granted to Executive (determined in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 718, or any successor promulgation) shall be no less than three hundred and twenty-five percent (325%) of Executive’s then current Salary.
		

		
			 
		

		
			4.6           Initial Equity Grant.  On the thirtieth day (30th) following the Effective Date (and if the stock of the Company is not traded on such date, the next trading day), Executive shall be granted Equity Awards with respect to Company common stock with a grant date fair value of fifteen million dollars ($15,000,000) (determined in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 718, or any successor promulgation) (the “Initial Grant”).  The Initial Grant shall be granted (i) one-half in stock options to acquire Company common stock that vest ratably on each of the first three (3) anniversaries of the Effective Date and (ii) one-half in restricted stock units, (A) three-quarters of which vest ratably on each of the first three (3) anniversaries
		

		

		

		 

		

			2

		

 

		
		

		
			of the Effective Date and (B) one-quarter of which vest based on the achievement of reasonable performance goals to be determined by the Company’s Board or the Compensation Committee, in consultation with management of the Company.  Prior to the grant date of the Initial Grant, Executive shall have the opportunity to make an election to defer settlement of the restricted stock units granted as part of the Initial Grant pursuant to the terms set forth in the SERP (as defined below); provided, that any election to defer settlement must be compliant with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and with the Company’s stock ownership policies.    All other terms and conditions shall be established by the Company’s Board or the Compensation Committee prior to the grant date of the Initial Grant.
		

		
			 
		

		
			4.7           Retirement Compensation.  The Company shall establish a deferred compensation plan  (“SERP”) that is substantially similar to the B/E 2010 Deferred Compensation Plan, including allowing for the deferral of Equity Awards thereunder, on or as soon as practicable following the Effective Date.  On the ninetieth (90th) day following the Effective Date and on a quarterly basis thereafter during the Employment Term, the Company will make a tax deferred contribution to the SERP (the “Retirement Contribution”) on behalf of Executive equal to twenty-five percent (25%) of the Salary in effect as of the date of such contribution.  Each Retirement Contribution shall be allocated to Executive’s retirement account under the SERP, shall be fully vested on the date that such Retirement Contribution is made and shall otherwise be subject to the terms and conditions of the SERP.  
		

		
			 
		

		
			5.           Proprietary Rights and Non-Competition.      Executive acknowledges that the Company is engaged in a continuous program of research, development and production in connection with its business, present and future, and hereby covenants as follows:
		

		
			 
		

		
			5.1           Confidentiality.  Executive will maintain in confidence and will not disclose or use, either during or after the Employment Term, any proprietary or confidential information or know-how belonging to the Company (“Proprietary Information” hereinafter defined), whether or not in written form, except to the extent required to perform duties on behalf of the Company.  For purposes of this Agreement, “Proprietary Information” shall mean any information, not generally known to the relevant trade or industry, which was obtained from the Company, or which was learned, discovered, developed, conceived, originated or prepared by Executive in connection with this Agreement.  Such Proprietary Information includes, without limitation, software, technical and business information relating to the Company’s inventions or products, research and development, production processes, manufacturing and engineering processes, machines and equipment, finances, customers, marketing and production and future business plans, information belonging to customers or suppliers of the Company disclosed incidental to Executive’s performance under this Agreement, and any other information which is identified as confidential by the Company, but only so long as the same is not generally known in the relevant trade or industry.
		

		
			 
		

		
			5.2           Inventions.
		

		
			 
		

		
			5.2.1           Definition of Inventions.  For purposes of this Agreement, “Inventions” shall mean any new or useful art, discovery, contribution, finding or improvement, whether or not patentable, and all related know-how.  Inventions shall include, without limitation, all designs, discoveries, formulae, processes, manufacturing techniques, semiconductor designs, computer software, inventions, improvements and ideas.
		

		
			 
		

		
			5.2.2           Disclosure and Assignment of Inventions.  Executive will promptly disclose and describe to the Company all Inventions which he may solely or jointly conceive, develop, or reduce to practice during the Employment Term (i) which relate at the time of conception, development, or reduction to practice of the Invention to the Company’s business or actual or demonstrably anticipated
		

		

		

		 

		

			3

		

 

		
		

		
			research or development, (ii) which were developed, in whole or in part, on the Company’s time or with the use of any of the Company’s equipment, supplies, facilities or trade secret information, or (iii) which resulted from any work performed by Executive for the Company (the “Company’s Inventions”).  Executive hereby assigns to the Company all of his right, title and interest world-wide in and to the Company’s Inventions and in all intellectual property rights based upon the Company’s Inventions; provided, however, that Executive does not assign or agree to assign any Inventions, whether or not relating in any way to the Company’s business or demonstrably anticipated research and development, which were made by him prior to the date of this Agreement, or which were developed by him independently during the Employment Term and not under the conditions stated in subparagraph (ii) above.
		

		
			 
		

		
			5.3           Documents and Materials.  Upon termination of this Agreement or at any other time upon the Company’s request, Executive will promptly deliver to the Company, without retaining any copies, all documents and other materials furnished to him by the Company (other than personal copies of documents relating to Executive’s employment terms), prepared by him for the Company or otherwise relating to the Company’s business, including, without limitation, all written and tangible material in his possession incorporating any Proprietary Information.
		

		
			 
		

		
			5.4           Competitive Employment.  During the Employment Term and for a period of two (2) years thereafter (collectively, the “Restricted Term”), Executive will not engage in any employment, consulting, or other activity in any business directly competitive with the Company without the Company’s written consent, which consent shall not be unreasonably withheld; provided, however, that nothing in this Section 5.4 shall preclude Executive from serving as an employee or director of B/E, a consultant for B/E, a director of any other corporation, or a partner or investor in a private equity firm.
		

		
			 
		

		
			5.5           Non-Solicitation.  During the Restricted Term, Executive will not solicit or encourage, or cause others to solicit or encourage, any employees of the Company to terminate their employment with the Company.
		

		
			  
		

		
			5.6           Acts to Secure Proprietary Rights.
		

		
			 
		

		
			5.6.1           Further Acts.  Executive agrees to perform, during and after the Employment Term, all acts deemed necessary or desirable by the Company to permit and assist it, at its expense, in perfecting and enforcing the full benefits, enjoyment, rights and title throughout the world in the Company’s Inventions.  Such acts may include, without limitation, execution of documents and assistance or cooperation in the registration and enforcement of applicable patents and copyrights or other legal proceedings.
		

		
			 
		

		
			5.6.2           Appointment of Attorney-In-Fact.  In the event that the Company is unable, for any reason whatsoever, to secure Executive’s signature to any lawful and necessary document required to apply for or execute any patent, copyright or other applications with respect to any of the Company’s Inventions (including improvements, renewals, extensions, continuations, divisions or continuations in part thereof), Executive hereby irrevocably appoints the Company and its duly authorized officers and agents as his agents and attorneys-in-fact to execute and file any such application and to do all other lawfully permitted acts to further the prosecution and issuance of patents, copyrights or other rights thereon with the same legal force and effect as if executed by him, intending hereby to create a so-called “durable power” which will survive any subsequent disability.
		

		
			 
		

		
			5.7           No Conflicting Obligations.  Executive’s performance of this Agreement does not breach and will not breach any agreement to keep in confidence proprietary information, knowledge or data acquired by him.
		

		

		

		 

		

			4

		

 

		
		

		
			5.8           Corporate Opportunities.  Executive agrees that during the Employment Term, he will first present to the Board, for its acceptance or rejection on behalf of the Company, any opportunity to create or invest in any company which is or will be involved in the distribution of aerospace consumables products and logistics services or any provider of technical services and associated rental equipment and logistics to the energy sector, which comes to his attention and in which he, or any of his affiliates, might desire to participate.  If the Board rejects the same or fails to act thereon in a reasonable time, Executive shall be free to invest in, participate or present such opportunity to any other natural person, corporation, limited liability company, limited or general partnership, or any other entity (each, a “Person”).
		

		
			 
		

		
			5.9           Specific Performance.  Executive acknowledges that a breach of any of the promises or agreements contained herein could result in irreparable and continuing damage to the Company for which there may be no adequate remedy at law, and the Company shall be entitled to seek injunctive relief and/or a decree for specific performance.
		

		
			 
		

		
			6.           Termination and Change of Control.
		

		
			 
		

		
			6.1           Termination Date; Termination or Resignation other than Death. Incapacity or in connection with a Change of Control or Good Reason.
		

		
			 
		

		
			6.1.1           Termination Date.  The term “Termination Date” shall mean the date on which Executive incurs a Separation from Service (as defined below) with the Company and its subsidiaries and affiliates for any reason.
		

		
			 
		

		
			6.1.2           Termination by Executive.  If Executive resigns his employment with the Company for any reason other than (i) death pursuant to Section 6.2, (ii) Incapacity pursuant to Section 6.3, or (iii) Good Reason pursuant to Section 6.4.3, then on the Termination Date, Executive shall receive payment of (A) any accrued and unpaid Salary and benefits through the Termination Date and (B) any earned but unpaid bonuses payable to Executive as determined by the Compensation Committee for any fiscal periods of the Company ending prior to the Termination Date.  
		

		
			 
		

		
			6.1.3           Termination by the Company.  If the Company terminates Executive’s employment hereunder for any reason other than (i) death pursuant to Section 6.2 or (ii) Incapacity pursuant to Section 6.3 then on the Termination Date, Executive shall receive payment of (A) any accrued and unpaid Salary and benefits through the Termination Date, (B) any earned but unpaid bonuses payable to Executive as determined by the Compensation Committee for any fiscal periods of the Company ending prior to the Termination Date, (C) a lump-sum amount equal to the sum of (i) a prorated portion of 175% of Executive’s then current Salary, with the prorated amount to be determined based on the number of days that Executive was employed by the Company in the year during which the Termination Date occurs, (ii)  Executive’s Salary for the remainder of the Employment Term, (iii)  the Retirement Contributions that would have been made during the remainder of the Employment Term,  (iv)  two  (2) times Executive’s Target Bonus, in the case of each of clauses (ii), (iii) and (iv) at the rates in effect as of the Termination Date (the lump sum amount determined in accordance with this clause (C), the “Termination Amount”), and (D) any Equity Awards granted to Executive that would not vest on or prior to the Termination Date shall vest and be exercisable immediately, and, notwithstanding any termination of employment provisions set forth in the applicable agreement or related plan, all Equity Awards shall continue to be exercisable until their original stated expiration date.
		

		
			 
		

		
			6.2           Death.
		

		
			 
		

		
			6.2.1   Executive’s employment hereunder shall terminate upon his death.  In such
		

		

		

		 

		

			5

		

 

		
		

		
			event, the Company shall, within thirty (30) days following the date of death, pay to such Person as Executive shall have designated in a notice filed with the Company, or if no such Person shall have been designated, to his estate, a lump-sum amount equal to the Termination Amount.
		

		
			 
		

		
			6.2.2   The Company shall, within thirty (30) days following Executive’s date of death, also pay to such Person as Executive shall have designated in a notice filed with the Company, or if no such Person shall have been designated, to his estate, a lump-sum amount equal to (i) any accrued and unpaid Salary and benefits through his date of death, and (ii) any earned but unpaid bonuses payable to Executive as determined by the Compensation Committee for any fiscal periods of the Company ending prior to the date of death.   
		

		
			 
		

		
			6.2.3   Upon Executive’s death, any Equity Awards granted to Executive that would not vest on or prior to the Termination Date shall vest and, if applicable, be exercisable immediately and, notwithstanding any termination of employment provisions set forth in the applicable agreement or related plan, all Equity Awards shall continue to be exercisable until their original stated expiration date.
		

		
			 
		

		
			6.3           Incapacity.  If, in the reasonable judgment of the Compensation Committee, as a result of Executive’s incapacity due to a medically determinable physical or mental illness, Executive shall have been absent from his full-time duties as described hereunder for the entire period of twelve (12) consecutive months (“Incapacity”), Executive’s employment shall terminate at the end of the twelve (12)-month period as provided in this Section 6.3.  In such event:
		

		
			 
		

		
			(i)           the Company shall give prompt notice to Executive of any such termination;
		

		
			 
		

		
			(ii)           the Company shall pay to Executive within thirty (30) days following the Termination Date, a lump-sum amount equal to the Termination Amount;
		

		
			 
		

		
			(iii)           the Company shall pay to Executive within ten (10) business days after the Termination Date a lump-sum amount equal to (A) any accrued and unpaid Salary and benefits through the Termination Date and (B) any earned but unpaid bonuses payable to Executive as determined by the Compensation Committee for any fiscal periods of the Company ending prior to the Termination Date; and
		

		
			 
		

		
			(iv)           any Equity Awards granted to Executive that would not vest on or prior to the Termination Date shall vest and, if applicable, be exercisable immediately and, notwithstanding any termination of employment provisions set forth in the applicable agreement or related plan, such Equity Awards shall continue to be exercisable until their original stated expiration date.
		

		
			 
		

		
			Any dispute between the Compensation Committee and Executive with respect to Executive’s Incapacity shall be settled by reference to a competent medical authority mutually agreed to by the Compensation Committee and Executive or his personal representative, whose decision shall be binding on all parties.
		

		
			 
		

		
			6.4           Change of Control; Good Reason; Definitions.
		

		
			 
		

		
			6.4.1           Change of Control.  If a “Change of Control” of the Company occurs, the Company will be obligated as provided in this Section 6.4.  For purposes of determining the Company’s obligations under this Section 6.4, the date on which a Change of Control is effective shall be referred to as the “Change of Control Date.”  The payments described in Section 6.4.2 shall be made on the Change of Control Date.
		

		
			 
		

		
			6.4.2           Change of Control.   If a Change of Control occurs during the
		

		

		

		 

		

			6

		

 

		
		

		
			Employment Term, Executive’s employment shall be terminated as of the Change of Control Date and the Company or its successor shall pay to Executive:
		

		
			 
		

		
			(i)           any accrued and unpaid Salary and benefits through the Change of Control Date;
		

		
			 
		

		
			(ii)           any earned but unpaid bonuses payable to Executive for any fiscal periods of the Company ending prior to the Change of Control Date;
		

		
			 
		

		
			(iii)           a lump-sum amount equal to the Termination Amount; provided, that the Termination Amount shall be calculated using rates as in effect on the Change of Control Date; and
		

		
			 
		

		
			(iv)           any Equity Awards granted to Executive that would not vest on or prior to the Change of Control Date shall vest and be exercisable immediately upon the date immediately preceding the Change of Control Date, and, notwithstanding any termination of employment provisions set forth in the applicable agreement or related plan, all Equity Awards shall continue to be exercisable until their original stated expiration date.
		

		
			 
		

		
			6.4.3           Good Reason.  If Executive resigns his employment at anytime for Good Reason, then the Company or its successor shall pay/provide to Executive:
		

		
			 
		

		
			(i)           any accrued and unpaid Salary and benefits through the Termination Date, as such term is defined in Section 6.1.1, above;
		

		
			 
		

		
			(ii)           any earned but unpaid bonuses payable to Executive for any fiscal periods of the Company ending prior to the Termination Date;
		

		
			 
		

		
			(iii)         a lump-sum amount equal to the Termination Amount; and
		

		
			 
		

		
			(iv)          any Equity Awards granted to Executive that would not vest on or prior to the Termination Date shall vest and be exercisable immediately, and, notwithstanding any termination of employment provisions set forth in the applicable agreement or related plan, all Equity Awards shall continue to be exercisable until their original stated expiration date.
		

		
			 
		

		
			The payments described in this Section 6.4.3 shall be made on the Termination Date.
		

		
			 
		

		
			6.4.4           Definitions.
		

		
			 
		

		
			(i)           For purposes of this Agreement, a “Change of Control” means:
		

		
			 
		

		
			(A)           Individuals who, as of the Effective Date constitute the Board (the “Incumbent Board “) cease for any reason to constitute at least a majority of the Board, provided that any Person becoming a director subsequent to the Effective Date whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board (other than an election or nomination of an individual whose initial assumption of office is in connection with an actual or threatened election contest relating to the election of the directors of the Company, as such terms are used in Rule 14a-11 of Regulation 14A promulgated under the Securities Exchange Act) shall be, for purposes of this Agreement, considered as though such Person were a member of the Incumbent Board;
		

		
			  
		

		
			(B)           a transaction or other event occurs such that any Person or Persons
		

		

		

		 

		

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			acting as a group acquires ownership of stock of the Company that, together with stock held by such Person or group, constitutes more than 50% of the total fair market value or total voting power of the stock of the Company;
		

		
			 
		

		
			(C)           a transaction or other event occurs such that any one Person or group acquires (or has acquired during the twelve (12)-month period ending on the date of the most recent acquisition by such Person or group) ownership of stock of the Company possessing 35% or more of the total voting power of the stock of the Company; or
		

		
			 
		

		
			(D)           a transaction or other event occurs such that any one Person or group acquires (or has acquired during the twelve (12)-month period ending on the date of the most recent acquisition by such Person or group) ownership of assets of the Company that have a total gross fair market value equal to or more than 40% of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions; provided, however, that no acquisition of ownership of the assets of the Company shall be deemed a Change of Control if the acquiring Person or group is:
		

		
			 
		

			
	
			
				 (1)
			

			
	
			
			A stockholder of the Company in exchange for or with respect to its stock;

			
	
			
				 (2)
			

			
	
			
			Any Majority Owned Entity, as defined below, of the Company;

			
	
			
				 (3)
			

			
	
			
			A Person or group of which the Company is a Majority Owned Entity; or

			
	
			
				 (4)
			

			
	
			
			A Majority Owned Entity of any Person or group described by (3), above.

		
			  
		

		
			(ii)           For the purposes of this Section 6.4.4, Persons will not be considered to be acting as a group solely because they purchase or own stock of the same corporation at the same time, or as the result of the same public offering.  However, Persons will be considered to be acting as a group if they are owners of a Person that enters into a merger, consolidation, purchase or acquisition of stock or assets or similar business transaction with the Company.
		

		
			 
		

		
			(iii)           For the purposes of this Section 6.4.4, a “Majority Owned Entity” of any Person is any entity, 50% or more of the total value or voting power of which is owned, directly or indirectly, by such Person.
		

		
			 
		

		
			(iv)           A Change of Control shall occur on the effective date of any event specified in Section 6.4.4(i) above.  In connection with any determination of ownership for purposes of Section 6.4.4(i) above, the attribution rules of Section 318(a) of the Code shall apply.
		

		
			  
		

		
			(v)           For purposes of this Agreement, “Good Reason” means:
		

		
			 
		

		
			(A)           Any decrease in Executive’s Salary or a failure by the Company to pay any material compensation due and payable to Executive in connection with his employment;
		

		
			 
		

		
			(B)           Any change in Executive’s responsibilities, positions, duties, status, title or reporting relationships;
		

		
			 
		

		
			(C)           Executive ceasing to be the Chief Executive Officer of the Company;
		

		
			 
		

		
			(D)           Requiring Executive to be based at any office or location other than Executive’s principal place of employment; or
		

		

		

		 

		

			8

		

 

		
		

		
			(E)           A material breach by the Company of any term of this Agreement;
		

		
			 
		

		
			provided that Executive has given notice thereof to the Company and the Company has not cured the Good Reason within thirty (30) days after receiving such notice.
		

		
			 
		

		
			6.5          280G Matters.
		

		
			 
		

		
			6.5.1           Anything in this Agreement to the contrary notwithstanding, in the event it shall be determined that any payment, distribution, benefit, equity-based or other compensation or other transfer or action by the Company to or for the benefit of Executive (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise) (a “Payment”) would be subject to an excise tax imposed by Section 4999 of the Code, or any interest or penalties are incurred by Executive with respect to any such excise tax (such excise tax, together with any such interest and penalties, are hereinafter collectively referred to as the “Excise Tax”), the Accounting Firm (as defined below) shall, in consultation with Executive’s legal counsel or other advisor designated by Executive (“Executive’s Advisor”), calculate whether to reduce any of the Payments to Executive so that the Parachute Value (as defined below) of all Payments to Executive, in the aggregate, equals the applicable Safe Harbor Amount (as defined below). Payments shall be so reduced only if the Accounting Firm determines, subject to the approval of Executive’s Advisor, with such approval not to be unreasonably withheld or delayed, that Executive would have a greater Net After-Tax Receipt (as defined below) of aggregate Payments if the Payments were so reduced.
		

		
			 
		

		
			6.5.2           If the Accounting Firm determines that the aggregate Payments to Executive should be reduced so that the Parachute Value of all Payments to Executive, in the aggregate, equals the applicable Safe Harbor Amount, and Executive’s Advisor approves such determination, the Company shall promptly give Executive notice to that effect and a copy of the detailed calculation thereof. All determinations made by the Accounting Firm and approved by Executive’s Advisor under this Section 6.5 shall be binding upon the Company and Executive and shall be made as soon as reasonably practicable and in no event later than 15 days following the date of Executive’s termination of employment.
		

		
			 
		

		
			6.5.3           The reduction contemplated by this Section 6.5, if applicable, shall be made by reducing payments and benefits (to the extent such amounts are considered Payments) under the following sections in the following order: (i) any Payments as a result of the acceleration of the vesting of performance-based Equity Awards pursuant to Section 6.4.2(iv), (ii) any Payments under Section 6.4.2(iii)that are “parachute payments” within the meaning of Section 280G of the Code,(iii) any other cash Payments that are “parachute payments” that would be made upon a Change of Control, beginning with payments that would be made last in time and (iv) any Payments as a result of accelerated vesting of Equity Awards for which the amount considered contingent on the change in ownership or control is determined in accordance with Treasury Regulation 1.280G-1, Q&A 24(c).
		

		
			 
		

		
			6.5.4           As a result of the uncertainty in the application of Section 4999 of the Code at the time of the initial determination by the Accounting Firm hereunder, it is possible that amounts will have been paid or distributed by the Company to or for the benefit of Executive pursuant to this Agreement that should not have been so paid or distributed (each, an “Overpayment”) or that additional amounts that will have not been paid or distributed by the Company to or for the benefit of Executive pursuant to this Agreement could have been so paid or distributed (each, an “Underpayment”), in each case consistent with the calculation of the applicable Safe Harbor Amount hereunder.   In the event that the Accounting Firm, based on the assertion of a deficiency by the Internal Revenue Service against the Company or Executive which the Accounting Firm believes, and Executive’s Advisor agrees, has a high probability of success, determines that an Overpayment has been made, any such Overpayment paid or distributed by the Company to or for the benefit of Executive shall be repaid by Executive to the Company; provided,
		

		

		

		 

		

			9

		

 

		
		

		
			however, that (i) no such repayment shall be required if and to the extent such deemed repayment would not either reduce the amount on which Executive is subject to tax under Sections 1 or  4999 or generate a refund of such taxes; and (ii) to the extent such repayment would generate a refund of such taxes, Executive shall only be required to pay to the Company the Overpayment less the amount of tax to be refunded and to transfer the refund of such taxes to the Company when received. In the event that the Accounting Firm, based on controlling precedent or substantial authority, determines that an Underpayment has occurred, any such Underpayment shall be promptly paid by the Company to or for the benefit of Executive, together with interest at the applicable federal rate provided for in Section 7872(f)(2) of the Code.
		

		
			 
		

		
			6.5.5           All fees and expenses of the Accounting Firm in implementing the provisions of this Section 6.5 shall be borne by the Company, and the Company shall reimburse Executive for all reasonable advisory fees incurred with respect to this Section 6.5(including for any services provided by Executive’s Advisor) and any legal and accounting fees incurred with respect to disputes related thereto (including for any services provided by Executive’s Advisor).
		

		
			 
		

		
			6.5.6           In connection with making determinations under this Section 6.5, the Accounting Firm shall take into account the value of any reasonable compensation for services to be rendered by Executive before or after the Change of Control, including any agreement not to render services to competitors pursuant to the non-competition provisions applicable to Executive under Section 5of this agreement and any other non-competition provisions that may apply to Executive, and the Company shall cooperate in the valuation of any such services, including any non-competition provisions.
		

		
			 
		

		
			6.5.7  The following terms shall have the following meanings for purposes of this Section 6.5:
		

		
			 
		

			
	
			
				 (A)
			

			
	
			
			“Accounting Firm” shall mean  a mutually agreed upon nationally recognized accounting firm (a “Big Four” accounting firm) that is not serving as accountant or auditor for the Company or the individual, entity or group effecting the Change of Control.

		
			 
		

			
	
			
				 (B)
			

			
	
			
			“Net After-Tax Receipt” shall mean the Present Value of a Payment net of all taxes imposed on Executive with respect thereto under Sections 1 and 4999 of the Code and under applicable state, local, and foreign laws, determined by applying the highest marginal rate under Section 1 of the Code and under state, local, and foreign laws that applied to Executive’s taxable income for the immediately preceding taxable year, or such other rate as such Executive shall certify, in Executive’s sole discretion, as likely to apply to Executive in the relevant tax year.

		
			 
		

			
	
			
				 (C)
			

			
	
			
			“Parachute Value” of a Payment shall mean the present value as of the date of the change in control for purposes of Section 280G of the Code of the portion of such Payment that constitutes a “parachute payment” under Section 280G(b)(2) of the Code, as determined by the Accounting Firm for purposes of determining whether and to what extent the Excise Tax will apply to such Payment.

		
			 
		

			
	
			
				 (D)
			

			
	
			
			“Present Value” of a Payment shall mean the economic present value of a Payment as of the date of the change in control for purposes of Section 280G of the Code, as determined by the Accounting Firm using the discount rate required by Section 280G(d)(4) of the Code.

		

		

		 

		

			10

		

 

		
		

			
	
			
				 (E)
			

			
	
			
			“Safe Harbor Amount” means (x) 3.0 times Executive’s  “base amount,” within the meaning of Section 280G(b)(3) of the Code, minus (y) $1.00.

		
			 
		

		
			7.           Withholding. All payments made by the Company under this Agreement shall be reduced by any amounts in respect of income, social security, FICA and other similar taxes at the then-prevailing rates required to be withheld by the Company under applicable law.
		

		
			 
		

		
			8.           Indemnification.   To the maximum extent permitted under Delaware law as from time to time in effect, and subject to any mandatory exclusion of indemnification under Delaware law applicable to the indemnification of Executive under this Section 8, the Company hereby agrees to indemnify Executive and hold him harmless from, against and in respect of any and all damages, deficiencies, actions, suits, proceedings, demands, assessments, judgments, claims, losses, costs, expenses, obligations and liabilities arising from or related to the performance of the services under this Agreement by  Executive.
		

		
			 
		

		
			9.           Legal Fees.   In the event of any litigation, dispute or contest arising from a breach of this Agreement, the prevailing party shall be entitled to recover from the non-prevailing party all reasonable costs incurred in connection with such litigation, dispute or contest, including without limitation, reasonable attorneys’ fees, disbursement and costs, and experts’ fees and costs.
		

		
			 
		

		
			10. Unfunded Status.  This Agreement is intended to constitute an unfunded plan for incentive compensation.  Nothing contained herein shall give Executive any rights that are greater than those of a general unsecured creditor of the Company.  In its sole discretion, the Compensation Committee may authorize the creation of trusts, acquisition of life insurance policies or other arrangements to meet the obligations created under this Agreement.
		

		
			 
		

		
			11.  Section 409A.
		

		
			 
		

		
			11.1           If any amounts that become due under Section 6 of this Agreement constitute “nonqualified deferred compensation” within the meaning of Section 409A of the Code, payment of such amounts shall not commence until Executive incurs a “Separation from Service” (as defined below) if and only if necessary to avoid accelerated taxation or tax penalties in respect of such amounts.  
		

		
			 
		

		
			11.2           Notwithstanding any provision of this Agreement to the contrary, if Executive is a “Specified Employee” (as defined below) he shall not be entitled to any payments upon a Separation from Service until the earlier of (i) the date which is the first (1st) business day following the date that is six (6) months after Executive’s Separation from Service for any reason other than death or (ii) Executive’s date of death.  The Company shall establish a trust pursuant to Rev. Proc. 92-64, promulgated under subpart E, part I, subchapter J, chapter 1, subtitle A of the Code, as modified by Notice 2000-56, and fund any such payments that are deferred pursuant to this Section 11.2 that otherwise would be immediately payable to  Executive.  The provisions of this Section 11.2 shall only apply if required to comply with Section 409A of the Code.
		

		
			 
		

		
			11.3           For purposes of this Agreement, “Separation from Service” shall have the meaning set forth in Section 409A(a)(2)(A)(i) of the Code and determined in accordance with the default rules under Section 409A of the Code.  ”Specified Employee” shall have the meaning set forth in Section 409A(a)(2)(B)(i) of the Code, as determined in accordance with the uniform methodology and procedures adopted by the Company and then in effect.
		

		
			 
		

		
			11.4           It is intended that the terms and conditions of this Agreement comply with Section 
		

		

		

		 

		

			11

		

 

		
		

		
			409A of the Code.  If any provision of this Agreement contravenes any regulations or Treasury guidance promulgated under Section 409A of the Code, or could cause any amounts or benefits hereunder to be subject to taxes, interest and penalties under Section 409A of the Code, this Agreement or any provision hereof may be reformed by Executive, subject to the consent of the Company (which consent shall not be unreasonably withheld) to:  (i) comply with, or avoid being subject to, Section 409A of the Code, (ii) avoid the imposition of taxes, interest and penalties under Section 409A of the Code, and/or (iii) maintain, to the maximum extent practicable, the original intent of the applicable provision without violating the provisions of Section 409A of the Code, provided, however, that no such amendment shall have the effect of reducing the amount of any payment or benefit payable to Executive pursuant to this Agreement.
		

		
			 
		

		
			11.5           Anything in this Agreement to the contrary notwithstanding, no reimbursement payable to Executive pursuant to any provisions of this Agreement or pursuant to any plan or arrangement of the Company or its subsidiary or affiliate covered by this Agreement shall be paid later than the last day of the calendar year following the calendar year in which the related expense was incurred, except to the extent that the right to reimbursement does not provide for a “deferral of compensation” within the meaning of Section 409A of the Code.  No amount reimbursed during any calendar year shall affect the amounts eligible for reimbursement in any other calendar year.
		

		
			 
		

		
			12.           Waiver.  Executive’s or the Company’s failure to insist upon strict compliance with any provision hereof or any other provision of this Agreement or the failure to assert any right that Executive or the Company may have hereunder shall not be deemed to be a waiver of such provision or right or any other provision or right of this Agreement.  Similarly, the waiver by any party hereto of a breach of any provision of this Agreement by the other party will not operate or be construed as a waiver of any other or subsequent breach by such other party.
		

		
			 
		

		
			13.           Mutual Waiver.   Executive and the Company agree to sign a mutual waiver and release of claims agreement effective as of the Termination Date substantially in the form attached hereto as Exhibit A, and hereby incorporated by reference (the “Mutual Waiver”).
		

		
			 
		

		
			14.           Severability.         If any part of this Agreement is found to be invalid or unenforceable, that part will be deemed amended to achieve as nearly as possible the same economic effect as the original provision, and the remainder of this Agreement will remain in full force and effect.
		

		
			   
		

		
			15.           Notices.        Any notice or other communication in connection with this Agreement shall be deemed to be delivered if in writing, addressed as provided below (or to such other Person or address as to which either party may notify the other in accordance with this Section 15) and actually delivered at said address:
		

		
			 
		

		
			If to Executive, to him at:
		

		
			 
		

		
			Amin J. Khoury
		

		
			149 South Beach Road
		

		
			Hobe Sound, FL  33455
		

		
			 
		

		
			If to the Company, to it at:
		

		
			 
		

		
			KLX Inc.
		

		
			1300 Corporate Center Way,
		

		
			Wellington, FL 33414
		

		
			Attention:  General Counsel
		

		

		

		 

		

			12

		

 

		
		

		
			16.           Survival.       The provisions of Sections 4.6 and 5 through 17 inclusive hereof shall each survive any termination or expiration of this Agreement in accordance with the applicable statute of limitation period(s).
		

		
			 
		

		
			17.           Miscellaneous.           This Agreement, including the attached exhibits, constitutes the entire understanding of the parties with respect to the subject matter hereof, and supersedes all such prior and contemporaneous understandings and agreements, whether oral or written, regarding such subject matter.  This Agreement may be amended or modified only by a written instrument signed by Executive and by a duly authorized representative of the Company.  This Agreement may be executed in any number of counterparts, which together shall constitute one and the same instrument.  Except as otherwise provided in this Agreement, this Agreement shall be governed by and construed in accordance with the laws (other than the conflicts of law rules) of the State of Florida.  The headings in this Agreement are for convenience of reference only and shall not alter or otherwise affect the meaning hereof.  This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, legal representatives, successors and permitted assigns.
		

		
			 
		

		
			 
		

		
			[Signature Page Follows]
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		

		 

		

			13

		

 

		

			 

		

		IN WITNESS WHEREOF, the parties hereto execute this Agreement as of the date first above written.
		

		
			 
		

			
					
						EXECUTIVE

					
					
						 

					
					
						KLX INC.

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 /s/ Amin J. Khoury

					
					
						 

					
					
						By:

					
					
						  /s/ Roger Franks

					
					
						 

				
	
					
						Amin J. Khoury

					
					
						 

					
					
						Name:

					
					
						  Roger Franks

					
					
						 

				
	
					
						 

					
					
						 

					
					
						Title:

					
					
						  General Counsel

					
					
						 

				

		
			 
		

		
			 
		

		

		

		 

		

			[SIGNATURE PAGE FOR AMIN KHOURYAMENDED AND RESTATED EMPLOYMENT AGREEMENT]

		

 

		

			 

		

		EXHIBIT A
		

		
			 
		

		
			Form of Mutual Waiver Agreement
		

		
			 
		

		
			SEPARATION AGREEMENT AND MUTUAL RELEASE
		

		
			 
		

		
			This Separation Agreement and Mutual Release (the “Agreement”), is made as of ______ __, 20___, by and between KLX Inc., a Delaware corporation (the “Company”) and Amin J. Khoury (“Employee”), for the purpose of memorializing the terms and conditions of the Employee’s departure from the Company’s employment.
		

		
			 
		

		
			Now, therefore, in consideration of the sum of one dollar ($1.00) and the mutual promises, agreements and covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, (the “Settlement Consideration”), the parties hereto, intending to be legally bound, hereby agree as follows:
		

		
			 
		

		
			1.           Termination; Employment Agreement.  Effective _________, 20__, Employee’s employment with the Company was terminated.  Upon Employee’s termination, Employee and the Company shall each have those respective surviving rights, obligations and liabilities described in that certain Employment Agreement, dated as of ______, 2014, by and between Employee and the Company (the “Employment Agreement”).
		

		
			 
		

		
			2.           Non-Released Claims.
		

		
			 
		

		
			(a)           Employee Non-Released Claims.  It is explicitly agreed, understood and intended that the general release of claims provided for in this Agreement shall not include or constitute a waiver of the Company’s, its agent, representative or designee’s obligations to Employee (i) that are specified in the Employment Agreement as surviving the termination of Employee’s employment, (ii) that arise out of or from respondeat superior  principles, (iii) for claims for indemnification and defense under any organizational documents, agreement, insurance policy, or at law or in equity concerning either the Company, its subsidiaries, affiliates, directors, officers or employees, (iii) concerning any deferred compensation plan, 401(k) plan, equity plan or retirement plan, and (iv) any claims not waivable under applicable law, collectively, the “Employee Non-Released Company Claims”.
		

		
			 
		

		
			(b)           Company Non-Released Claims.  It is explicitly agreed, understood and intended that the general release of claims provided for in this Agreement shall not include or constitute a waiver of (i) the Employee’s obligations to the Company concerning the Company’s confidential information and proprietary rights that survive Employee’s termination of employment, including those specified in Section 6 of the Employment Agreement, (ii) any claim of the Company for fraud based on willful and intentional acts or omissions of Employee, other than those taken in good faith and in a manner that Employee believed to be in or not opposed to the interests of the Company, proximately causing a financial restatement by the Company, and (iii) any claims not waivable by the Company under applicable law, collectively, the “Company Non-Released Employee Claims”.
		

		
			 
		

		
			3.           General Release in Favor of the Company:  Employee, for himself and for his heirs, executors, administrators, trustees, legal representatives and assigns (collectively, the “Releasers”), hereby forever releases and discharges the Company, its Board of Directors, and any of its past, present, or future parent corporations, subsidiaries, divisions, affiliates, officers, directors, agents, trustees, administrators, attorneys, employees, employee benefit and/or pension plans or funds (including qualified and non-qualified plans or funds), successors and/or assigns and any of its or their past, present or future parent corporations, subsidiaries, divisions, affiliates, officers, directors, agents, trustees, administrators, attorneys, employees, employee benefit and/or pension plans or funds (including qualified and non-qualified plans or funds), successors and/or assigns (whether acting as agents for the Company or in their individual capacities) (collectively, the “Releasees”) from any and all claims, demands, causes of action, and liabilities of any kind whatsoever (upon any legal or equitable theory, whether contractual, common-law, statutory, federal, state, local, or otherwise), whether known or unknown, by reason of any act, omission, transaction or occurrence which Releasers ever had, now have or hereafter can, shall or may have against Releasees up to and including the date of the execution of this Agreement, except for the Employee Non-Released Company Claims.  Without limiting the generality of the foregoing, Releasers hereby release and discharge Releasees from:
		

		

		

		 

		

			 

		

 

		

			 

		

		
		

		
			(a)           any and all claims for backpay, frontpay, minimum wages, overtime compensation, bonus payments, benefits, reimbursement for expenses, or compensation of any kind (or the value thereof), and/or for liquidated damages or punitive damages (under any applicable statute or at common law);
		

		
			 
		

		
			(b)           any and all claims, relating to Employee’s employment by the Company,  the terms and conditions of such employment, employee benefits related to Employee’s employment, the termination of Employee’s employment, and/or any of the events relating directly or indirectly to or surrounding such termination;
		

		
			 
		

		
			(c)           any and all claims of discrimination, harassment, whistle blowing or retaliation in employment (whether based on federal, state or local law, statutory or decisional), including without limitation, all claims under the Age Discrimination in Employment Act of 1967, as amended, Title VII of the Civil Rights Act of 1964, as amended, the Americans with Disabilities Act, the Civil Rights Act of 1991, the Civil Rights Act of 1866, 42 USC §§ 1981-86, as amended, the Equal Pay Act, the Fair Labor Standards Act, the Family and Medical Leave Act, the Employee Retirement Income Security Act, the Florida Civil Rights Act of 1992, the Florida Whistle-Blower Law (Fla. Stat. § 448.101 et seq.), the Florida Equal Pay Act, and waivable rights under the Florida Constitution;
		

		
			 
		

		
			(d)           any and all claims under any contract, whether express or implied;
		

		
			 
		

		
			(e)           any and all claims for unintentional or intentional torts, for emotional distress and for pain and suffering;
		

		
			 
		

		
			(f)           any and all claims for violation of any statutory or administrative rules, regulations or codes;
		

		
			 
		

		
			(g)           any and all claims for attorneys’ fees, costs, disbursements, wages, bonuses, benefits, vacation and/or the like;
		

		
			 
		

		
			which Releasers ever had, now have or hereafter can, shall or may have against Releasees for, upon or by reason of any act, omission, transaction or occurrence up to and including the date of the execution of this Agreement, except for the Employee Non-Released Company Claims.
		

		
			 
		

		
			4.           General Release in Favor of Employee.    The Releasees, and each of them, hereby release Releasers, and each of them, from all claims or causes of action whatsoever, known or unknown, including any and all claims of the common law of the State of Florida, including but not limited to breach of contract (whether written or oral), promissory estoppel, defamation, unjust enrichment, or claims for attorneys’ fees and costs and all claims which were alleged or could have been alleged against the Employee which arose from the beginning of the world to the date of this Agreement, except for the Company Non-Released Employee Claims.
		

		
			 
		

		
			5.           Non-Disparagement.  The parties agree that they will not (a) disparage or encourage or induce others to disparage the other party (including, without limitation, the Releasees and the Releasers), or (b) engage in any conduct or induce any other person to engage in any conduct that is any way injurious to either party’s (including, without limitation, the Releasees’ or the Releasers’) reputation and interests (including, without limitation, any negative or derogatory statements or writings).
		

		
			 
		

		
			6.           Covenants not to Sue.
		

		
			 
		

		
			(a)           Employee Covenant not to Sue.  Employee represents and warrants that to date, he has not filed any lawsuit, action, complaint or charge of any kind with any federal, state, or county court or administrative or public agency against the Company or any other Releasee.  Without in any way limiting the generality of the foregoing, Employee hereby covenants not to sue or to assert, prosecute, or maintain, directly or indirectly, in any form, any claim or cause of action against any person or entity being released pursuant to this Agreement with respect to any matter, cause, omission, act, or thing whatsoever, occurring in whole or in part on or at any time prior to the date of this Agreement, except for the Employee Non-Released Company Claims.  Employee agrees that he will not seek or accept any award or settlement from any source or proceeding with respect to any claim or right waived in this Agreement.
		

		

		

		 

		

			 

		

 

		

			 

		

		
		

		
			(b)           Company Covenant not to Sue.  The Company represents and warrants that to date, it has not filed any lawsuit, action, complaint or charge of any kind with any federal, state, or county court or administrative or public agency against Employee or any other Releaser.  Without in any way limiting the generality of the foregoing, the Company hereby covenants not to sue or to assert, prosecute, or maintain, directly or indirectly, in any form, any claim or cause of action against any person or entity being released pursuant to this Agreement with respect to any matter, cause, omission, act, or thing whatsoever, occurring in whole or in part on or at any time prior to the date of this Agreement, except for the Company Non-Released Employee Claims.  The Company agrees that it will not seek or accept any award or settlement from any source or proceeding with respect to any claim or right waived in this Agreement.
		

		
			 
		

		
			7.           No Admission.  The making of this Agreement is not intended, and shall not be construed, as an admission that the Company or any of the Releasees, has violated any federal, state or local law (statutory or decisional), ordinance or regulation, breached any contract or committed any wrongdoing whatsoever.
		

		
			 
		

		
			8.           Effectiveness.  This Agreement shall not become effective until the eighth day following Employee’s signing of this Agreement (“Effective Date”) and Employee may at any time prior to the Effective Date revoke this Agreement by giving notice in writing of such revocation to:
		

		
			 
		

		
			KLX Inc.
		

		
			1300 Corporate Center Way,
		

		
			Wellington, FL 33414
		

		
			Attn: General Counsel
		

		
			 
		

		
			In the event that Employee revokes this Agreement prior to the eighth day after his execution thereof, this Agreement, and the promises contained herein, shall automatically be deemed null and void.
		

		
			 
		

		
			9.           Employee Acknowledgement.  Employee acknowledges that he has been advised in writing to consult with an attorney before signing this Agreement, and that Employee has been afforded the opportunity to consider the terms of this Agreement for twenty-one (21) days prior to its execution.  Employee further acknowledges that he has read this Agreement in its entirety, that he fully understands all of its terms and their significance, that he has signed it voluntarily and of Employee’s own free will, and that Employee intends to abide by its provisions without exception.
		

		
			 
		

		
			10.           Severability.  If any provision of this Agreement is held by a court of competent jurisdiction to be illegal, void or unenforceable, such provision shall have no effect, however, the remaining provisions shall be enforced to the maximum extent possible.
		

		
			 
		

		
			11.           Entire Agreement.  This Agreement and the Employment Agreement, taken together, constitute the complete understanding between the parties and supersedes all such prior agreements between the parties and may not be changed orally.  Employee acknowledges that neither the Company nor any representative of the Company has made any representation or promises to Employee other than as set forth herein or therein.  No other promises or agreements shall be binding unless in writing and signed by the parties.
		

		
			 
		

		
			12.           General Provisions.
		

		
			 
		

		
			(a)           Governing Law; Jurisdiction; Venue.  This Agreement shall be enforced, governed and interpreted by the laws of the State of Florida without regard to Florida’s conflict of laws principles. Any controversy or claim arising out of or relating to this Agreement, or the breach thereof, shall be settled in a court of competent jurisdiction in the State of Florida in Palm Beach County.  Each party consents to the jurisdiction of such Florida court in any such civil action or legal proceeding and waives any objection to the laying of venue in such Florida court.
		

		
			  
		

		
			(b)           Prevailing Party.   In the event of any litigation, dispute or contest arising from a breach of this Agreement, the prevailing party shall be entitled to recover from the non-prevailing party all reasonable costs incurred in connection with such litigation, dispute or contest, including without limitation,
		

		

		

		 

		

			 

		

 

		

			 

		

		
		

		
			reasonable attorneys’ fees, disbursement and costs, and experts’ fees and costs.
		

		
			 
		

		
			(c)           Counterparts.  This Agreement may be executed in several counterparts, each of which shall be deemed as an original, but all of which together shall constitute one and the same instrument.
		

		
			 
		

		
			(d)           Binding Effect.  This Agreement is binding upon, and shall inure to the benefit of, the parties, the Releasers and the Releasees and their respective heirs, executors, administrators, successors and assigns.
		

		
			 
		

		
			(e)           Interpretation.  Should any provision of this Agreement require interpretation or construction, it is agreed by the parties that the entity interpreting or construing this Agreement shall not apply a presumption that the provisions hereof shall be more strictly construed against one party who prepared the Agreement, it being agreed that all parties have participated in the preparation of all provisions of this Agreement.
		

		
			 
		

		
			 
		

		
			 
		

		
			[Signature Page Follows]
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		

		

		 

		

			 

		

 

		

			 

		

		IN WITNESS WHEREOF, the parties hereto have executed and delivered this Separation Agreement and Mutual Release as of the date first written above.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						KLX INC.

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						By:

					
					
						 

				
	
					
						Amin J. Khoury

					
					
						 

					
					
						PRINT NAME: 

				
	
					
						 

					
					
						 

					
					
						TITLE: 

				
	
					
						STATE OF FLORIDA                 

					
					
						)

					
					
						 

				
	
					
						 

					
					
						) ss.

					
					
						 

				
	
					
						COUNTY OF                      

					
					
						)

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				

		
			 
		

		
			I HEREBY CERTIFY, that on this day, before me, an officer duly authorized in the State and County aforesaid to take acknowledgments, personally appeared Amin J. Khoury, to me known to be the person described in and who executed the foregoing instrument, and acknowledged to and before me that he/she executed the same.  This individual is personally known to me or has produced a ______________________ as identification and did take an oath.
		

		
			 
		

		
			 
		

		
			SWORN TO AND SUBSCRIBED before me this _____ day of _________, 20__.
		

		
			 
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						Notary Public

				
	
					
						 

					
					
						 

					
					
						My Commission Expires:

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