Document:

EX-10.1

 Exhibit 10.1 

EMPLOYMENT AGREEMENT 

THIS EMPLOYMENT AGREEMENT (this “Agreement”), dated as of the 22nd day of April, 2019 (the “Effective
Date”), is entered into by and between CHAPARRAL ENERGY, INC., a Delaware corporation (the “Company”), CHAPARRAL ENERGY, LLC (the “Employer”) and SCOTT PITTMAN (“Executive”). 

WHEREAS, the Employer desires to retain Executive as its employee and to provide services to the Company and believes it is necessary to enter
into this Agreement to provide the proper incentive to Executive. 
 NOW, THEREFORE, in consideration of the mutual promises and covenants
contained in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree to the following terms: 

1.    Term. Subject to the provisions for earlier termination hereinafter provided, Executive’s
employment with the Employer under this Agreement shall be for a term (the “Term”) commencing upon the Effective Date and ending on the third-year anniversary of the Effective Date; provided, however, that commencing
on the date that is the third anniversary of the Effective Date, the Term shall be automatically extended so as to terminate on the second anniversary of such date, and the Term shall be automatically extended so as to terminate on each anniversary
thereafter (each such anniversary referred to as a “Renewal Date”). Notwithstanding the foregoing, if at least ninety (90) days prior to any Renewal Date, the Employer gives Executive or the Executive gives the Employer
written notice that the Term will not be so extended, this Agreement will continue for the remainder of the then current Term and automatically expire upon its completion. The Term may be sooner terminated under Section 5 of this
Agreement.
 2.    Position and Duties. During the Term, Executive will serve as Senior Vice President-Chief
Financial Officer of the Employer and will report directly to the Chief Executive Officer of the Employer (the “CEO”). Executive shall devote Executive’s best efforts and full business time and attention to perform all
services reasonably required to fully execute the duties and responsibilities associated with the Company, the Employer, and their subsidiaries and affiliates as directed by the CEO. Notwithstanding the above, Executive will be permitted, to
the extent such activities do not interfere with the performance by Executive of his duties and responsibilities under this Agreement or violate this Agreement, to (i) manage Executive’s personal, financial, and legal affairs, and
(ii) serve on industry, civic, or charitable boards or committees. Executive agrees to observe and comply with the rules and policies of the Company, the Employer, and their affiliates as in effect from time to time and to which Executive
is provided access by the Company, the Employer or any such affiliate, including, without limitation, any rules and policies relating to Executive obligations to them upon a termination of employment. In addition, during the Term, Executive shall
owe a fiduciary duty of loyalty, fidelity, and allegiance to act in the best interests of the Company, the Employer, and their subsidiaries and affiliates, and to not act in a manner that would materially injure their business, interests, or
reputations. 

  
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 3.    Place of Performance. During the Term,
Executive’s place of employment will be the Employer’s principal executive offices in Oklahoma City, Oklahoma (the “Principal Location”), except for travel to other locations as may be necessary to fulfill Executive’s
duties and responsibilities hereunder. 
 4.    Compensation and Related Matters. 

(a)    Base Salary. During the Term, the Employer will pay Executive a base salary of not less
than $325,000.00 per year (“Base Salary”), prorated for any partial period of employment and payable in accordance with the Employer’s customary payroll practices. Executive’s Base Salary may be increased, but not
decreased unless the base salaries for all executive officers of the Employer are decreased, pursuant to annual review by the Compensation Committee (the “Compensation Committee”) of the Board of Directors of the Company (the
“Board”) in its sole discretion. In the event that Executive’s Base Salary is increased, the increased amount will then constitute the Base Salary for all purposes of this Agreement. 

(b)    Annual Bonus Incentives. In addition to the Base Salary, Executive shall be eligible to
participate in and earn an annual cash bonus under any annual incentive plan established by the Board so long as the terms of any such plan allow participation by the executive officers of the Employer (“Annual Bonus”). The
target Annual Bonus for Executive shall be equal to 80% of Executive’s then-current Base Salary (the “Bonus Target”), but the actual Annual Bonus shall be determined by the Compensation Committee in its sole discretion, in
consultation with the CEO, in accordance with the terms of such plan, in effect at that time, if any. The then effective percentage upon which the Bonus Target is based may be increased, but not decreased, unless the then effective percentages
upon which the bonus targets for other executive officers of the Employer are based are also decreased. The terms for the payment of any Annual Bonus shall be determined by the Compensation Committee, in consultation with the CEO, in accordance with
the terms of such plan in effect at that time, if any. All Annual Bonuses due under this Agreement shall be paid on the date that Annual Bonuses are paid to other senior executive officers of the Employer but in no event later than the end of the
calendar year immediately following the end of the fiscal year for which the Annual Bonus is earned. Except as expressly provided below, Executive shall not be eligible to receive an Annual Bonus unless he remains employed by the Employer through
the entire fiscal year upon which such Annual Bonus is paid. 
 (c)    Management Incentive Plan.
Executive shall be eligible to participate in the Chaparral Energy, Inc. Management Incentive Plan or any successor equity incentive plan (in either case, the “Plan”) to the same extent as similarly situated senior executive
officers of the Employer. Executive’s entitlement to any award under the Plan shall be subject to approval by the Board or its designee and shall be granted pursuant, and subject, to the vesting, forfeiture, repurchase, and other terms and
conditions of the Plan and an Award Agreement or other similar agreement in the form established by the Compensation Committee or its designee in its sole discretion. 

  
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 (d)    Welfare, Pension and Incentive
Benefit. During the Term, Executive (and Executive’s spouse and/or eligible dependents to the extent provided in the applicable plans and programs) will be eligible to participate in and be covered under all the welfare benefit plans
or programs maintained by the Employer for the benefit of its senior executive officers pursuant to the terms of such plans and programs including, without limitation, all medical, life, hospitalization, dental, disability, accidental death and
dismemberment and travel accident insurance plans and programs. In addition, during the Term, Executive will be eligible to participate in all pension, retirement, savings, and other employee benefit plans and programs maintained from time to
time by the Employer for the benefit of the Employer’s senior executive officers, including without limitation the Employer’s 401(k) plan. Such benefits shall be governed by the applicable plan documents, insurance policies, or employment
policies, and may be modified, suspended, or revoked in accordance with the terms of the applicable documents or policies without violating this Agreement. 

(e)    Vacation. Executive shall be entitled to paid vacation in accordance with the
Employer’s vacation policy during the Term. Executive may use his vacation in a reasonable manner based upon the business needs of the Company and the Employer. 

(f)    Fringe Benefits. During the Term, the Employer will provide Executive with such other
fringe benefits as commensurate with Executive’s position as determined by the Board or its designee in its sole discretion. 

(g)    Expenses. Executive shall be entitled to receive prompt reimbursement for all reasonable
business expenses incurred by Executive in accordance with the Employer’s expense reimbursement policy during the Term. All payments under this Section 4(g) shall be paid to Executive on or before the last day of Executive’s
taxable year following the taxable year in which Executive incurred such expenses. 

(h)    Relocation Benefits. In accordance with, and pursuant to the terms and conditions in, the
Employer’s relocation assistance policy, the Employer shall reimburse the Executive for actual, customary, and reasonable expenses incurred by him in moving his residence and household goods from Denver, Colorado to Oklahoma City, Oklahoma.

 5.    Termination of Employment. Executive’s employment under this Agreement may be terminated
before the end of Term under the following circumstances: 
 (a)    Death. Executive’s
employment under this Agreement will terminate upon his death. 
 (b)    Disability. Upon
Executive’s Disability, Executive will receive a Notice of Termination (as defined in Section 6(a)) from the Employer. If Executive does not return to the substantial performance of his duties on a full-time basis within thirty
(30) days of such Notice of Termination, the Employer has the right to terminate Executive’s employment under this Agreement for Disability, and such termination will not be a breach of this Agreement by the Employer. For purposes of
this Agreement, “Disability” means Executive’s physical or mental impairment which prevents him from 

  
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being able to perform his essential job functions under this Agreement (with or without reasonable accommodation, as may be required by applicable law) for a period of six (6) consecutive
months or a period of one-hundred and twenty (120) calendar days in any twelve (12)-month period. 

(c)    Cause. The Employer has the right to terminate Executive’s employment for Cause by
providing Executive with a Notice of Termination, and such termination will not be a breach of this Agreement by the Employer. For purposes of this Agreement, “Cause” means the occurrence of any one or more of the following
events: (i) Executive’s conviction of, or entry by Executive of a guilty or no contest plea to, a felony or crime involving moral turpitude; (ii) Executive’s willful commission of an act of fraud or dishonesty resulting in
economic or financial injury to the Company, Employer, or any affiliate; (iii) Executive’s willful failure to substantially perform or gross neglect of Executive’s duties, including, but not limited to, the failure to follow any
lawful directive of the CEO, within the reasonable scope of Executive’s duties; (iv) Executive’s performance of acts materially detrimental to the Company, Employer, or any affiliate, unless otherwise approved in advance by the Board
or the Compensation Committee; (v) Executive’s use of narcotics, alcohol, or illicit drugs in a manner that has or may reasonably be expected to have a detrimental effect on Executive’s performance of his duties as an employee of the
Company or on the reputation of the Company, Employer, or any affiliate; (vi) Executive’s commission of a violation of any rule or policy adopted by the Company, the Employer, or any affiliate which results in injury to the Company,
Employer, or an affiliate; (vii) Executive’s breach of this Agreement, including, but not limited to, Executive’s breach of the covenants set forth in Section 9 hereof; or (viii) any other acts or omissions contrary to the
best interests of the Company, Employer, or an affiliate which has caused, or is likely to cause, material harm to one or more of them. Cause shall not be deemed to exist with respect to clause (vi), clause (vii), and clause (viii) above unless
(A) the Employer provides written notice to the Executive of the conduct giving rise to Cause under the applicable clause within ninety (90) days after the Employer has actual knowledge of the existence of such conduct and
(B) Executive fails to completely remedy both the conduct so identified and the harm or threat of harm associated therewith within thirty (30) days after receipt of such notice. 

(d)    Good Reason. Executive may terminate Executive’s employment with the Employer for
Good Reason, and such termination will not be a breach of this Agreement by Executive. For purposes of this Agreement, “Good Reason” shall mean the occurrence without the written consent of Executive, of one of the events set
forth below: 
 (i) a material diminution in Executive’s authority, duties, or responsibilities combined with a material
demotion in Executive’s pay grade ranking; 
 (ii) the reduction by the Employer of Executive’s Base Salary by more
than ten percent (10%) (unless done so for all executive officers of the Employer); 

  
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 (iii)    the requirement that Executive be based at any
office or location that is more than 50 miles from the Principal Location, except for travel reasonably required in the performance of Executive’s responsibilities; or 

(iv)    any other action or inaction that constitutes a material breach by the Company or the Employer of
this Agreement such as the failure of any successor to the Company to assume this Agreement pursuant to Section 14. 
 Notwithstanding
the foregoing, Executive will not be deemed to have terminated his employment for Good Reason unless (A) Executive provides written notice to the Employer of the existence of one of the conditions described above within ninety (90) days
after Executive has knowledge of the initial existence of the condition, (B) the Employer fails to remedy the condition so identified within thirty (30) days after receipt of such notice (if capable of correction), (C) Executive
provides a Notice of Termination to the Employer within thirty (30) days of the expiration of the Employer’s period to remedy the condition, and (D) Executive terminates employment within ninety (90) days after Executive provides
written notice to the Employer of the existence of the condition referred to in clause (A). 

(e)    Without Cause. The Employer has the right to terminate Executive’s employment under
this Agreement without Cause by providing Executive with a Notice of Termination. For purposes of Section 7 hereto, a “termination without Cause” shall include the Employer’s failure to renew this Agreement pursuant to
Section 1 prior to a Renewal Date. 
 (f)    Without Good Reason. Executive may
voluntarily terminate employment with the Employer without Good Reason at any time by providing the Employer with a Notice of Termination. 

6.    Termination Procedure. 

(a)    Notice of Termination. Any termination of Executive’s employment by the Employer or
by Executive during the Term (other than termination pursuant to Section 5(a)) will be communicated by Notice of Termination to the other party in accordance with Section 15. For purposes of this Agreement, a “Notice of
Termination” means a written notice which indicates the specific termination provision in this Agreement relied upon and sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of
Executive’s employment. 
 (b)    Date of Termination. “Date of
Termination” shall mean (i) if Executive’s employment is terminated by his death, the date of his death, (ii) if Executive’s employment is terminated due to Disability pursuant to Section 5(b), thirty (30) days
after the date the Notice of Termination is delivered (provided that Executive has not returned to the substantial performance of his duties on a full-time basis during such thirty (30) day period), (iii) if Executive’s employment is
terminated for Good Reason pursuant to Section 5(d), the date on which a Notice of Termination provided in accordance with such Section is given or any later date (within thirty (30) days after the giving of such

  
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Notice of Termination) determined by the Executive and set forth in such Notice of Termination, (iv) if Executive’s employment is terminated voluntarily by Executive without Good Reason
pursuant to Section 5(f), thirty (30) days after the Notice of Termination, (v) if Executive’s employment is terminated by the Employer giving a proper notice of non-renewal as permitted in
Section 1 above, the last day of the Term, or (vi) if Executive’s employment is terminated for any other reason, the date on which a Notice of Termination is given or any later date (within thirty (30) days after the giving of
such Notice of Termination) set forth in such Notice of Termination. 
 7.    Obligations of the Employer Upon
Termination. In the event Executive’s employment under this Agreement terminates during the Term and such termination constitutes a “separation from service” from the Employer (within the meaning of
Section 409A(a)(2)(A)(i) of the Internal Revenue Code of 1986, as amended (the “Code”), and Treasury Regulation Section 1.409A-1(h)) (“Separation from
Service”), the Employer will provide Executive with the payments and benefits set forth below. 

(a)    Termination by Employer Without Cause or by Executive for Good Reason Not Following Change in
Control. If Executive’s employment is terminated by the Employer without Cause or by Executive for Good Reason at any time that is not within six (6) months after the occurrence of a Change in Control (as defined below): 

(i) The Employer will pay to Executive the following: (A) any earned but unpaid Base Salary through the Date of
Termination, (B) any Annual Bonus required to be paid to Executive pursuant to Section 4(b) for any fiscal year of the Employer that ends on or before the Date of Termination to the extent not previously paid, (C) accrued but unpaid
vacation pay through the Date of Termination if due under the applicable vacation policy, and (D) reasonable business expenses incurred but unpaid through the Date of Termination (together, the “Accrued Obligations”). Except as
provided under this Agreement, the Employer’s plans and policies, and/or applicable law, the Accrued Obligations shall be paid within thirty (30) days after the Date of Termination. 

(ii) Subject to Sections 7(f) and 10 below, the Employer will pay to Executive an amount equal to twelve
(12) months of the Executive’s Base Salary in effect on the Date of Termination plus one-hundred percent (100%) of the Annual Bonus granted to Executive for the fiscal year of the Employer
immediately on or preceding the Date of Termination, payable in the form of a salary continuation for a period of twelve (12) months (collectively, the “Severance Payments”); provided, however, that the first
installment of such Severance Payments shall not be made until the Employer’s first payroll date occurring on or after the sixtieth (60th) day following the Date of Termination (the
“First Payroll Date”) and any amounts that would otherwise have been paid pursuant to this Section 7(a)(ii) prior to the First Payroll Date shall instead be paid on the First Payroll Date; and provided further, that if
the total amount of the Severance Payments exceeds the amount that may be provided to Executive as exempt separation pay pursuant to Treasury Regulations Section 1.409A-1(b)(9)(iii) or any successor
provision thereto or similar applicable guidance (the 

  
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“Exempt Amount”), then the total amount of the Severance Payments due in excess of such Exempt Amount shall be paid to Executive in a single lump sum no later than 2 1⁄2
months following the end of the taxable year in which the Date of Termination occurs. Each payment under this Section 7(a)(ii) shall be treated as a separate payment for purposes of Section 409A of the Code. 

(iii) Subject to Sections 7(f) and 10 below, during the twelve (12)-month period commencing on the Date of
Termination if Executive is receiving Severance Payments under Section 7(a)(ii) or the eighteen (18)-month period Executive is receiving Severance Payments under Section 7(b) that Employee is eligible to elect and elects to continue
coverage for himself and his spouse and eligible dependents under the Employer’s group medical, hospitalization, and dental plans pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), or
similar state law, the Employer shall reimburse Executive on a monthly basis for the difference between the amount Executive pays to effect and continue such coverage under COBRA and the employee contribution amount that active employees of the
Employer pay for the same or similar coverage (the “COBRA Reimbursements”); provided, however, that (A) Executive shall notify the Company in writing within five days after he becomes eligible after the Date of
Termination for group medical, hospitalization, or dental plan insurance coverage, if any, through subsequent employment or otherwise and Employer shall have no further obligation to provide the COBRA Reimbursements after Executive becomes eligible
for group medical, hospitalization, or dental insurance plan coverage due to subsequent employment or otherwise; and (B) if Executive (or his spouse) is eligible for Medicare or a similar type of governmental medical benefit, such benefit shall
be the primary provider before Employer medical benefits are provided. Executive shall send monthly invoices to the Employer reflecting COBRA premiums paid by the last day of the month following the month in which the applicable premiums were
paid by Executive and any COBRA Reimbursements due shall be made within fifteen (15) days of receipt of such invoices. 

(iv) For purposes of this Agreement, “Change in Control” shall have the same definition assigned to
“Change in Control” in the Plan. If “Change in Control” is not defined in the Plan, “Change of Control” shall mean: 

(A) The consummation of any transaction or series of related transactions involving the sale of the Company’s outstanding
securities (but excluding a public offering of the Company’s capital stock) for securities or other consideration issued or paid or caused to be issued or paid by such other corporation or an affiliate thereof and which result in this
Company’s shareholders (or their affiliates) immediately prior to such transaction not holding at least a majority of the voting power of the surviving or continuing entity following such transaction; or 

  
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 (B) The consummation by the Company (whether directly involving the Company
or indirectly involving the Company through one or more intermediaries) of (x) a merger, consolidation, reorganization, or business combination or (y) a sale or other disposition of all or substantially all of the Company’s assets or
(z) the acquisition of assets or stock of another entity, in each case, other than a transaction which results in the Company’s voting securities outstanding immediately before the transaction continuing to represent (either by remaining
outstanding or by being converted into voting securities of the Company or the person that, as a result of the transaction, controls, directly or indirectly, the Company or owns, directly or indirectly, all or substantially all of the Company’s
assets or otherwise succeeds to the business of the Company (the Company or such person, the “Successor Entity”)) directly or indirectly, at least a majority of the combined voting power of the Successor Entity’s outstanding
voting securities immediately after the transaction. 
 (b)    Termination by Employer Without Cause
or by Executive for Good Reason Following Change in Control. If at any time within six (6) months after a Change in Control, Executive’s employment is terminated by the Employer without Cause or by Executive for Good Reason, then
Executive shall be entitled to the payments and benefits provided in Section 7(a) hereof, subject to the terms and conditions thereof (including, without limitation, the requirement that a condition to Executive’s right to receive the
amounts provided for thereunder is that Executive execute, deliver, and not revoke the Release as set forth in Section 10 below), except that for purposes of this Section 7(b), the Severance Payments shall be 18 months of the
Executive’s Base Salary in effect on the Date of Termination plus 150% of the Annual Bonus granted to Executive for the fiscal year of the Employer immediately on or preceding the Date of Termination, and shall be payable in the form of a
salary continuation for a period of 18 months; provided, however, that, for the avoidance of doubt, the Severance Payments as modified by this Section 7(b) shall otherwise be paid in the manner provided in Section 7(a)(ii). 

(c)    Termination by Employer for Cause or by Executive Without Good Reason. If
Executive’s employment is terminated by the Employer for Cause or by Executive without Good Reason, the Employer will pay Executive the Accrued Obligations as provided in Section 7(a)(i); provided, however, the amounts
described in Section 7(a)(i)(D) shall not be paid to Executive to the extent that Executive’s employment was terminated by the Employer for Cause due to Executive’s misappropriation of funds. 

(d)    Disability. During any period that Executive fails to perform Executive’s
duties under this Agreement before its termination as a result of incapacity due to physical or mental illness, Executive will continue to receive his full Base Salary set forth in Section 4(a) until his employment is terminated, including
pursuant to Section 5(b). If Executive’s employment is terminated due to Disability pursuant to Section 5(b), the Employer will pay Executive the Accrued Obligations as provided in Section 7(a)(i), plus a pro rata share of
the Annual Bonus for the fiscal year of the Employer in which the Date of Termination occurs within thirty (30) days after the Date of Termination. 

  
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 (e)    Death. If Executive’s employment
is terminated by death, the Employer will pay to Executive’s beneficiary, or personal or legal representatives or estate, as the case may be, the Accrued Obligations as provided in Section 7(a)(i), plus a pro rata share of the Annual Bonus
for the fiscal year of the Employer in which the Date of Termination occurs within thirty (30) days after the Date of Termination. 

(f)    Six-Month Delay. Notwithstanding anything to the
contrary in this Agreement, no compensation or benefits, including without limitation any Severance Payments or COBRA Reimbursements payable under Section 7 hereof, shall be paid to Executive during the six (6)-month period following
Executive’s Separation from Service if the Employer determines that paying such amounts at the time or times indicated in this Agreement would be a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code. If the payment of
any such amounts is delayed as a result of the previous sentence, then on the first business day following the end of such six (6)-month period (or such earlier date upon which such amount can be paid under Section 409A (as defined below)
without resulting in a prohibited distribution, including as a result of Executive’s death), the Employer shall pay Executive a lump-sum amount equal to the cumulative amount that would have otherwise
been payable to Executive during such period. 
 8.    Separation from Service Requirement. Notwithstanding any
other provision of this Agreement, Executive shall be entitled to the Severance Payments or the COBRA Reimbursements only if the termination of Executive’s employment constitutes a Separation from Service. 

9.    Confidential Information; Non-Solicitation. 

(a)    Nondisclosure of Confidential Information. Executive acknowledges that it is the policy
of the Company and the Employer to maintain as secret and confidential (i) all valuable and unique information, (ii) other information heretofore or hereafter acquired by the Company, the Employer, or any affiliated entity and deemed by it
to be confidential, and (iii) information developed or used by the Company, the Employer, or any affiliated entity, in each case, relating to the business, operations, employees, and customers of the Company, the Employer, or any affiliated
entity including, but not limited to, any employee information (all such information described in clauses (i), (ii) and (iii) above, other than information which is known to the public or becomes known to the public through no fault
of Executive, is hereinafter referred to as “Confidential Information”). The parties recognize that the services to be performed by Executive pursuant to this Agreement are special and unique and that by reason of his
employment by the Employer after the date hereof, Executive has acquired and will acquire previously undisclosed Confidential Information. Executive recognizes that all such Confidential Information is the property of the Company, the Employer,
and their affiliates. Accordingly, at any time during or after the Term, Executive shall not, except in the proper performance of his duties under this Agreement, directly or indirectly, without the prior written consent of the Company or the
Employer, disclose to any Person other than the Company, the Employer, or their affiliates, whether or not such Person is a competitor of the Company, the Employer, or their affiliates, and shall prevent the publication or disclosure of any
Confidential Information obtained by, or which has come 

  
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to the knowledge of, Executive prior or subsequent to the date hereof. Notwithstanding the foregoing, Executive may disclose to other Persons Confidential Information as consented to in
writing by the Board. 

(b)    Non-Solicitation. Executive shall not, during
the Term and for a period of 12 months following the Date of Termination (the “Non-Solicitation Period”), either personally or by or through his agent or by letters, circulars, or
advertisements and whether for himself or on behalf of any other person or entity, hire, solicit, or seek to hire any employee or consultant of the Company, Employer, or any affiliated entity, or in any other manner attempt, directly or indirectly,
to persuade any such employee or consultant to discontinue his status of employment or consultancy with the Company, Employer, or any affiliated entity, or to become hired in any business or activities likely to be competitive with the
Company’s, Employer’s, or an affiliated entity’s business. Additionally, during the Non-Solicitation Period, Executive shall not, for himself or on behalf of any person or entity, directly
or indirectly, solicit, divert, or attempt to solicit or divert any customer of the Company, the Employer, or any affiliated entity for the purpose of causing such customer to reduce or refrain from doing any business with the Company, the Employer,
or any affiliated entity. Executive further agrees that, during the Non-Solicitation Period, he will not, directly or indirectly, request or advise any customers of the Company, the Employer, or an
affiliated entity to withdraw, curtail, or cancel their business with the Company, the Employer, or any affiliated entity. For purposes of this Agreement, a “customer” of the Company, the Employer, or any affiliated entity
shall mean those customers of the Company, the Employer, or an affiliated entity who held a deposit account or otherwise transacted business with the Company, the Employer, or an affiliated entity at any time within the twelve (12) months
preceding the Date of Termination. Nothing contained in this Agreement is intended to prohibit general advertising or solicitation not specifically directed at any or all of the Company’s, the Employer’s, or an affiliated
entity’s customers or employees. 
 (d)    Obligations of Executive Upon
Termination. Upon termination of Executive’s employment for any reason, Executive shall return to the Employer all property of the Company, Employer, and their affiliates, including without limitation all documents and copies,
including hard and electronic copies, of documents in his possession or under his control relating to any Confidential Information including, but not limited to, internal and external business forms, manuals, correspondence, notes and computer
programs, and Executive shall not make or retain any copy or extract of any of the foregoing. In addition, Executive shall resign from all positions held with the Company, the Employer, and their affiliated entities. 

(e)    Remedies. Executive acknowledges and understands that Sections 9(a), (b),
(c), and the other provisions of this Agreement are of a special and unique nature, the loss of which cannot be adequately compensated for in damages by an action at law, and that the breach or threatened breach of the provisions of this
Agreement would cause the Company, the Employer, and their affiliates irreparable harm. In the event of a breach or threatened breach by Executive of the provisions of this Agreement, the Company, the Employer, and their affiliates, as
applicable, shall be entitled to an injunction restraining 

  
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him from such breach in addition to other appropriate equitable and legal relief. Nothing contained in this Agreement shall be construed as prohibiting the Company, the Employer, or their
affiliates from pursuing, or limiting their ability to pursue, any other remedies available for any breach or threatened breach of this Agreement by Executive, including the right to cease making any Severance Payments or providing any COBRA
Reimbursements as contemplated by Section 7. The provision of Section 12 hereof relating to arbitration of disputes shall not be applicable to the Company, the Employer, or their affiliates to the extent they seeks an injunction in
any court of competent jurisdiction to restrain Executive from violating Sections 9(a), (b), (c), or (d) hereof. Notwithstanding anything to the contrary in this Agreement, the Company and the Employer may amend the provisions of
Section 9 without the approval of the Executive or any other person to provide for less restrictive limitations as to time, geographical area, or scope of activity to be restrained. Any such less restrictive limitations may, in sole discretion
of the Company and the Employer, apply only with respect to the enforcement of this Agreement in certain jurisdictions specified in any such amendment. At the request of the Company or the Employer, the Executive shall consent to any such amendment
and shall execute and deliver to the Company and the Employer a counterpart signature page to such amendment; provided, however, that the Executive’s failure to do so shall not impact the validity of the amendment. 

(f)    After-Acquired Evidence. Notwithstanding any provision of this Agreement to the contrary, if
the Company or the Employer determines that the Executive is eligible to receive any Severance Payments or COBRA Reimbursements payable under Section 7 hereof, but, after such determination, the Company or the Employer within the subsequent
twenty-four (24) months acquire evidence and determine that (i) the Executive has materially breached the terms of Section 9; or (ii) a Cause condition existed prior to the Date of Termination that, had the Employer been fully
aware of such condition, would have given the Employer the right to terminate the Executive’s employment for Cause, then, in each case, the Company and the Employer shall have the right to cease payment of any future installments of any such
Severance Payments or COBRA Reimbursements, as applicable, and the Executive shall promptly return to the Company or the Employer, as applicable, all installments of such Severance Payments and COBRA Reimbursements, as applicable, received by the
Executive prior to the date that the Company and the Employer determine that the conditions of this Section 9(f) have been satisfied. 

(g)    Clawback. To the extent required by applicable law or any applicable securities exchange
listing standards, or as otherwise determined by the Board (or a committee thereof), amounts paid or payable under this Agreement shall be subject to the provisions of any applicable clawback policies or procedures adopted by the Company, the
Employer, or their affiliates, which clawback policies or procedures may provide for forfeiture and/or recoupment of amounts paid or payable under this Agreement. Notwithstanding any provision of this Agreement to the contrary, the Company and
the Employer reserve the right, without the consent of the Executive, to adopt any such clawback policies and procedures, including such policies and procedures applicable to this Agreement with retroactive effect. 

  
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 (h)    Continuing Operation. Except as
specifically provided in this Section 9, the termination of Executive’s employment or of this Agreement will have no effect on the continuing operation of this Section 9. 

(j)     Protected Activities. Nothing in this Agreement is intended to, or does, prohibit the
Executive from (i) filing a charge or complaint with, providing truthful information to, or cooperating with an investigation being conducted by a governmental agency (such as the Equal Employment Opportunity Commission, another other fair
employment practices agency, the National Labor Relations Board, the Department of Labor, or the Securities Exchange Commission (the “SEC”)); (ii) engaging in other legally-protected activities; (iii) giving truthful testimony
or making statements under oath in response to a subpoena or other valid legal process or in any legal proceeding; (iv) otherwise making truthful statements as required by law or valid legal process; or (v) disclosing a trade secret in
confidence to a governmental official, directly or indirectly, or to an attorney, if the disclosure is made solely for the purpose of reporting or investigating a suspected violation of law. Accordingly, the Executive understands that he shall not
be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that (i) is made (A) in confidence to a federal, state, or local government official, either directly or indirectly, or
to an attorney, and (B) solely for the purpose of reporting or investigating a suspected violation of law; or (ii) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. The
Executive likewise understands that, in the event he files a lawsuit for retaliation by the Company or the Employer for reporting a suspected violation of law, he may disclose the trade secret(s) of the Company or the Employer to his attorney and
use the trade secret information in the court proceeding, if he (i) files any document containing the trade secret under seal; and (ii) does not disclose the trade secret, except pursuant to court order. In accordance with applicable law,
and notwithstanding any other provision of this Agreement, nothing in this Agreement or any of any policies or agreements of the Company, the Employer, or their affiliates applicable to the Executive (i) impedes his right to communicate with
the SEC or any other governmental agency about possible violations of federal securities or other laws or regulations or (ii) requires him to provide any prior notice to the Company, the Employer, or their affiliates or obtain their prior
approval before engaging in any such communications. 
 10.    Release. Notwithstanding any other provisions
of this Agreement, it shall be a condition to Executive’s right to receive the Severance Payments and the COBRA Reimbursements that Executive will execute and deliver to the Company and the Employer within fifty-five (55) days following
the Date of Termination a release of claims in substantially the form attached hereto as Exhibit A (the “Release”) and that Executive not revoke such Release within seven (7) days thereafter. The form of the
Release may be modified by the Company or the Employer, including without limitation as needed to reflect changes in the applicable law or regulations that are needed to provide a legally enforceable and binding Release to all parties at the time of
execution. 
 11.    Indemnification. Executive shall be eligible, to the extent provided by the corporate
bylaws or directors’ and officers’ liability insurance of the Company or the Employer, if any, to be indemnified and held harmless by the Company or Employer during the Term of this 

  
 -12- 

 
Agreement and following any termination of this Agreement for any reason whatsoever in the same manner, and subject to the same limitations, as would any other senior executive officer or
director of the Employer with respect to acts or omissions occurring prior to (a) the termination of this Agreement or (b) the termination of employment of Executive.

12.    Arbitration; Legal Fees and Expenses. The parties agree that Executive’s employment and this
Agreement relate to interstate commerce, and that any disputes, claims, or controversies between Executive and the Company, the Employer, or their affiliates which may arise out of or relate to Executive’s employment relationship or this
Agreement shall be settled by arbitration. This agreement to arbitrate shall survive the termination of this Agreement. Any arbitration shall be in accordance with then-current Employment Arbitration Rules of the American Arbitration
Association and undertaken pursuant to the Federal Arbitration Act. Arbitration will be held in Oklahoma City, Oklahoma unless the parties mutually agree on another location. The decision of the arbitrator will be enforceable in any court of
competent jurisdiction. The parties agree that punitive, liquidated, or indirect damages shall not be awarded by the arbitrator unless such damages would have been awarded by a court of competent jurisdiction. Nothing in this agreement to
arbitrate, however, shall preclude the Company, the Employer, or their affiliates from obtaining injunctive relief from a court of competent jurisdiction prohibiting any ongoing breaches by Executive of this Agreement including, without limitation,
violations of Section 9. If any contest or dispute arises between the Company, the Employer, their affiliates, and Executive regarding any provision of this Agreement, the arbitrator may award to the prevailing party, as determined by the
arbitrator, the reasonable attorneys’ fees, costs, and expenses incurred by the prevailing party in connection with such contest or dispute. 

13.    Maximum Payments by the Employer. 

(a) It is the objective of this Agreement to maximize Executive’s Net After- Tax Benefit (as defined herein) if payments
or benefits provided under this Agreement are subject to excise tax under Section 4999 of the Code. Notwithstanding any other provisions of this Agreement, in the event that any payment or benefit by the Employer or otherwise to or for the
benefit of Executive, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, including, by example and not by way of limitation, acceleration by the Employer or otherwise of the date of vesting
or payment or rate of payment under any plan, program, arrangement, or agreement of the Employer (all such payments and benefits, including the payments and benefits under Section 7 hereof, being hereinafter referred to as the “Total
Payments”), would be subject (in whole or in part) to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then the cash severance payments shall first be reduced, and the non-cash severance payments shall thereafter be reduced, to the extent necessary so that no portion of the Total Payments shall be subject to the Excise Tax, but only if (i) the net amount of such Total
Payments, as so reduced (and after subtracting the net amount of federal, state and local income taxes on such reduced Total Payments and after taking into account the phase out of itemized deductions and personal exemptions attributable to such
reduced Total Payments), is greater than or equal to (ii) the net amount of such Total Payments without such reduction (but after subtracting the net amount of federal, state and local income taxes on such Total Payments and the amount of
Excise Tax to which 

  
 -13- 

 
Executive would be subject in respect of such unreduced Total Payments and after taking into account the phase out of itemized deductions and personal exemptions attributable to such unreduced
Total Payments). 
 (b) The Total Payments shall be reduced by the Employer in the following order: (i) reduction
of any cash severance payments otherwise payable to Executive that are exempt from Section 409A of the Code, (ii) reduction of any other cash payments or benefits otherwise payable to Executive that are exempt from Section 409A of the
Code, but excluding any payments attributable to the acceleration of vesting or payments with respect to any equity award with respect to the Company’s common stock that is exempt from Section 409A of the Code, (iii) reduction of any
other payments or benefits otherwise payable to Executive on a pro-rata basis or such other manner that complies with Section 409A of the Code, but excluding any payments attributable to the acceleration
of vesting and payments with respect to any equity award with respect to the Company’s common stock that are exempt from Section 409A of the Code, and (iv) reduction of any payments attributable to the acceleration of vesting or
payments with respect to any other equity award with respect to the Company’s common stock that are exempt from Section 409A of the Code. 

(c) For purposes of determining whether and the extent to which the Total Payments will be subject to the Excise Tax,
(i) no portion of the Total Payments the receipt or enjoyment of which Executive shall have waived at such time and in such manner as not to constitute a “payment” within the meaning of Section 280G(b) of the Code shall be taken
into account, (ii) no portion of the Total Payments shall be taken into account which, in the written opinion of independent auditors of nationally recognized standing (“Independent Advisors”) selected by the Employer, does not
constitute a “parachute payment” within the meaning of Section 280G(b)(2) of the Code (including by reason of Section 280G(b)(4)(A) of the Code) and, in calculating the Excise Tax, no portion of such Total Payments shall be taken
into account which, in the opinion of Independent Advisors, constitutes reasonable compensation for services actually rendered, within the meaning of Section 280G(b)(4)(B) of the Code, in excess of the “base amount” (as defined in
Section 280G(b)(3) of the Code) allocable to such reasonable compensation, and (iii) the value of any non-cash benefit or any deferred payment or benefit included in the Total Payments shall be
determined by the Independent Advisors in accordance with the principles of Sections 280G(d)(3) and (4) of the Code. The costs of obtaining such determination shall be borne by the Employer. 

14.    Agreement Binding on Successors. 

(a)    Company’s Successors. No rights or obligations of the Company or the
Employer under this Agreement may be assigned or transferred except that the Company will require any successor (whether direct or indirect, by purchase, merger, reorganization, sale, transfer of stock, consolidation, or otherwise) to all or
substantially all of the business and/or assets of the Company to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no succession had taken
place. As used in this Agreement, “Company” means the Company as herein defined, and any successor to its 

  
 -14- 

 
or the Company’s business and/or assets (by merger, purchase or otherwise) which executes and delivers the agreement provided for in this Section 14 or which otherwise becomes bound by
all the terms and provisions of this Agreement by operation of law. 
 (b)    Executive’s
Successors. No rights or obligations of Executive under this Agreement may be assigned or transferred by Executive other than his rights to payments or benefits under this Agreement, which may be transferred only by will or the laws of
descent and distribution. Upon Executive’s death, this Agreement and all rights of Executive under this Agreement shall inure to the benefit of and be enforceable by Executive’s beneficiary, or personal or legal representatives, or
estate, to the extent any such person succeeds to Executive’s interests under this Agreement. In the event of Executive’s death or a judicial determination of his incompetence, reference in this Agreement to Executive shall be deemed,
where appropriate, to refer to his estate or other legal representative(s). If Executive should die following his Date of Termination while any amounts would still be payable to him under this Agreement if he had continued to live, unless
otherwise provided, all such amounts shall be paid in accordance with the terms of this Agreement to his beneficiary or personal or legal representatives or estate. 

15.    Notice. For the purposes of this Agreement, notices, demands, and all other communications provided for
in this Agreement shall be in writing and shall be deemed to have been duly given when delivered either personally or by United States certified or registered mail, return receipt requested, postage prepaid, addressed as follows: 

If to Executive: 
 At his last
known address 
 evidenced on the Employer’s 

payroll records. 
 If to the
Company or Employer: 
 Chaparral Energy, Inc. 

701 Cedar Lake Boulevard 

Oklahoma City, OK 73114 
 or to such other
address as any party may have furnished to the other in writing in accordance with this Agreement, except that notices of change of address shall be effective only upon receipt. 

16.    Section 409A. 

(a) To the extent applicable, this Agreement shall be interpreted in accordance with Section 409A of the Code and
Department of Treasury regulations and other interpretative guidance issued thereunder, including without limitation any such regulations or other such guidance that may be issued after the Effective Date
(“Section 409A”). Any payments under this Agreement that may be excluded from Section 409A either as separation pay due to an involuntary separation from service or as a short-term deferral shall be excluded
from Section 409A to the maximum extent possible. Notwithstanding any provision of this Agreement to the contrary, in the event 

  
 -15- 

 
that following the Effective Date, the Employer determines in good faith that any compensation or benefits payable under this Agreement may not be either exempt from or compliant with
Section 409A, the Employer shall adopt such amendments to this Agreement or adopt other policies or procedures (including amendments, policies and procedures with retroactive effective), or take any other commercially reasonable actions
necessary or appropriate to (i) preserve the intended tax treatment of the compensation and benefits payable hereunder, to preserve the economic benefits of such compensation and benefits, and/or to avoid less favorable accounting or tax
consequences for the Employer and/or (ii) to exempt the compensation and benefits payable hereunder from Section 409A or to comply with the requirements of Section 409A and thereby avoid the application of penalty taxes thereunder;
provided, however, that this Section 16(a) does not, and shall not be construed so as to, create any obligation on the part of the Employer to adopt any such amendments, policies or procedures or to take any other such actions or
to indemnify Executive for any failure to do so. 
 (b) Any reimbursement or in-kind
benefit provided under this Agreement which constitutes a “deferral of compensation” within the meaning of Treasury Regulation Section 1.409A-1(b) shall be made or provided in accordance with
the requirements of Section 409A, including, where applicable, the requirement that (i) any reimbursement is for expenses incurred during the period of time specified in this Agreement, (ii) the amount of expenses eligible for
reimbursement, or in-kind benefits provided, during a calendar year may not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any
other calendar year, (iii) the reimbursement of an eligible expense will be made no later than the last day of the calendar year following the year in which the expense is incurred, and (iv) the right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit. 
 (c)
Notwithstanding anything herein to the contrary, Executive acknowledges and agrees that in the event that any tax is imposed under Section 409A in respect to any compensation or benefits payable to Executive, whether under this Agreement or
otherwise, then (i) the payment of such tax shall be solely Executive’s responsibility, (ii) neither the Company, the Employer, their affiliates, nor any of their respective past or present directors, officers, employees, or agents
shall have any liability for any such tax, and (iii) Executive shall indemnify and hold harmless, to the greatest extent permitted under law, each of the foregoing from and against any claims or liabilities that may arise in respect of any such
tax. 
 17.    Withholding. All payments and benefits hereunder shall be subject to any required withholding
of federal, state, and local taxes pursuant to any applicable law or regulation in addition to any withholding authorized by the Executive. 

18.    Miscellaneous. Except as expressly permitted above, no provisions of this Agreement may be amended,
modified, or waived unless agreed to in writing and signed by Executive and by a duly authorized officer of the Company and Employer. Notwithstanding the previous sentence, the Company and the Employer may modify or amend this Agreement in their
sole discretion at any time without the further consent of the Executive in any manner necessary to comply with applicable law and regulations or the listing or other requirements of any stock 

  
 -16- 

 
exchange upon which the Company, the Employer, or their affiliate is listed. No waiver by either party of any breach by the other party of any condition or provision of this Agreement shall be
deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. The respective rights and obligations of the parties under this Agreement shall survive Executive’s termination of employment
and the termination of this Agreement to the extent necessary for the intended preservation of such rights and obligations. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State
of Oklahoma without regard to its conflicts of law principles. The parties hereby irrevocably consent to the binding and exclusive venue for any dispute, controversy, claim, or cause of action between them arising out of or related to this Agreement
which is permitted to be filed in court being in the state or federal court of competent jurisdiction that regularly conducts proceedings in Oklahoma County, Oklahoma. Nothing in this Agreement, however, precludes either party from seeking to remove
a civil action from any state court to federal court. If any provision of this Agreement is held to be illegal, invalid, or unenforceable by an arbitrator or court of competent jurisdiction, (a) this Agreement shall be considered divisible,
(b) such provision shall be deemed inoperative to the extent it is deemed illegal, invalid, or unenforceable, and (c) in all other respects this Agreement shall remain in full force and effect; provided,
however, that, if any such provision may be made enforceable by such court by limitation, then such provision shall be so limited by such arbitrator or court and shall be enforceable to the maximum extent permitted by applicable
law. 
 19.    Validity. The invalidity or unenforceability of any provision or provisions of this Agreement
will not affect the validity or enforceability of any other provision of this Agreement, which will remain in full force and effect. 

20.    Counterparts. This Agreement may be executed in one or more counterparts, each of which will be deemed
to be an original but all of which together will constitute one and the same instrument. 

21.    Section Headings. The section headings in this Agreement are for convenience of
reference only, and they form no part of this Agreement and will not affect its interpretation. 
 22.    Entire
Agreement. Except as provided elsewhere herein and except for the other documents and agreements contemplated in accordance herewith, this Agreement sets forth the entire agreement of the parties with respect to its subject matter and
supersedes all prior agreements, promises, covenants, arrangements, communications, representations or warranties, whether oral or written, by any officer, employee or representative of any party to this Agreement with respect to such subject
matter, including, without limitation the employment offer letter to Executive from the Employer dated February 8, 2019. The Executive acknowledges and agrees that the Company and the Employer have not made any promise or representation to him
concerning this Agreement not expressed in this Agreement, and that, in signing this Agreement, he is not relying on any prior oral or written statement or representation by the Company, the Employer, or their representatives outside of this
Agreement but is instead relying solely on his own judgment and his legal and tax advisors, if any. 

  
 -17- 

 23.    Further Assurances. The parties hereby agree, without
further consideration, to execute and deliver such other instruments or to take such other action as may reasonably be required to effectuate the terms and provisions of this Agreement. 

24.    Third-Party Beneficiaries; Definition of Affiliate. The affiliates and subsidiaries of the Company and the
Employer are intended to be third-party beneficiaries of this Agreement and therefore may enforce this Agreement. For purpose of this Agreement, “affiliate” means, with respect to the entity or person at issue, any person or entity
that directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, such entity or person. 

25.    Representations of Employee. The Executive represents and warrants that (a) he has not previously
assumed any obligations inconsistent with those in this Agreement; (b) his execution of this Agreement, and his relationship with the Company and the Employer, shall not violate any other contract or obligation between him and any former
employer or other third party; and (c) during the Term, he shall not use or disclose to anyone within the Company, the Employer, or their affiliates any proprietary information or trade secrets of any former employer or other third party. The
Executive further represents and warrants that he has entered into this Agreement pursuant to his own initiative and that the Company and the Employer did not induce him to execute this Agreement in contravention of any existing commitments. The
Executive further acknowledges that the Company and the Employer have entered into this Agreement in reliance upon the foregoing representations by him. 

* * * * 

  
 -18- 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the Effective Date first
above written. 
  

							
	CHAPARRAL ENERGY, LLC	  	EXECUTIVE
				
	By:	 	                                      
                                        	  	By:	 	                                      
                                        

		 	K. Earl Reynolds	  		 	Scott Pittman
		 	Chief Executive Officer	  		 	
			
	Date
Signed:                                        
                         	  		 	Date
Signed:                                        
                 
			
	CHAPARRAL ENERGY, INC.	  		 	
				
	By:	 	                                      
                                        	  		 	
		 	K. Earl Reynolds	  		 	
		 	Chief Executive Officer	  		 	
			
	Date
Signed:                                        
                         	  		 	

  
 -19- 

 EXHIBIT A 

GENERAL RELEASE 
 NOTICE. Various laws,
including Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1866, the Pregnancy Discrimination Act of 1978, the Equal Pay Act, the Civil Rights Act of 1991, the Age Discrimination in Employment Act, the Rehabilitation Act of 1973,
the Americans With Disabilities Act, the Employee Retirement Income Security Act, and the Veterans Reemployment Rights Act (all as amended from time to time), prohibit employment discrimination based on sex, race, color, national origin, religion,
age, disability, eligibility for covered employee benefits and veteran status. You may also have rights under laws such as the Older Workers Benefit Protection Act of 1990, the Worker Adjustment and Retraining Act of 1988, the Fair Labor Standards
Act, the Family and Medical Leave Act, the Occupational Health and Safety Act, and other federal, state and/or municipal statutes, orders or regulations pertaining to labor, employment and/or employee benefits. These laws are enforced through the
United States Department of Labor and its agencies, including the Equal Employment Opportunity Commission (EEOC), and various state and municipal labor departments, fair employment boards, human rights commissions and similar agencies. 

This General Release is being provided to you in connection with the Employment Agreement between you, Chaparral Energy, LLC, and Chaparral Energy, Inc. dated
             ,          (the “Agreement”). The federal Older Workers Benefit Protection Act requires that you have at least twenty-one (21) days, if you want it, to consider whether you wish to sign a release such as this one in connection with a special, individualized severance package. You have at least until the close of
business twenty-one (21) days from the date you receive this General Release to make your decision. You may not sign this General Release until, at the earliest, your official date of separation from
employment. 
 BEFORE EXECUTING THIS GENERAL RELEASE YOU SHOULD REVIEW THESE DOCUMENTS CAREFULLY AND CONSULT WITH YOUR ATTORNEY. 

You may revoke this General Release within seven (7) days after you sign it and it shall not become effective or enforceable until that revocation period
has expired. If you do not accept the severance package and sign and return this General Release, or if you exercise your right to revoke the General Release after signing it, you will not be eligible for the special, individualized severance
package. Any revocation must be in writing and must be received by Chaparral Energy, Inc., 701 Cedar Lake Boulevard, Oklahoma City, OK 73114, within the seven-day period following your execution of this
General Release. 
 In consideration of the special, individualized severance package offered to me by Chaparral Energy, LLC and Chaparral Energy, Inc. and
the separation benefits I will receive as reflected in the Agreement, I hereby release and discharge Chaparral Energy, LLC, Chaparral Energy, Inc. and their predecessors, successors, affiliates, parent, subsidiaries and partners and each of those
entities’ employees, officers, directors and agents (hereafter collectively referred to as the “Company”) from all claims, liabilities, demands, and causes of action, known or unknown, fixed or contingent, which I may have or
claim to have against the Company either as a result of my past employment with the Company and/or the severance of that relationship and/or otherwise, and hereby waive any and all rights I may have with respect to and promise not to file a lawsuit
to assert any such claims. 

  
 -1- 

 This General Release includes, but is not limited to, claims arising under Title VII of the Civil Rights Act
of 1964, the Civil Rights Act of 1866, the Pregnancy Discrimination Act of 1978, the Equal Pay Act, the Civil Rights Act of 1991, the Age Discrimination in Employment Act, the Rehabilitation Act of 1973, the Americans With Disabilities Act, the
Employee Retirement Income Security Act or 1974 and the Veterans Reemployment Rights Act (all as amended from time to time). This General Release also includes, but is not limited to, any rights I may have under the Older Workers Benefit Protection
Act of 1990, the Worker Adjustment and Retraining Act of 1988, the Fair Labor Standards Act, the Family and Medical Leave Act, the Occupational Health and Safety Act and any other federal, state and/or municipal statutes, orders or regulations
pertaining to labor, employment and/or employee benefits. This General Release also applies to any claims or rights I may have growing out of any legal or equitable restrictions on the Company’s rights not to continue an employment relationship
with its employees, including any express or implied employment contracts, and to any claims I may have against the Company for fraudulent inducement or misrepresentation, defamation, wrongful termination or other retaliation claims in connection
with workers’ compensation or alleged “whistleblower” status or on any other basis whatsoever. 
 It is specifically agreed, however, that
this General Release does not have any effect on any rights or claims I may have against the Company which arise after the date I execute this General Release or on any vested rights I may have under any of the Company’s qualified or non-qualified benefit plans or arrangements as of or after my last day of employment with the Company, or on any of the Company’s obligations under the Agreement or as otherwise required under the Consolidated
Omnibus Budget and Reconciliation Act of 1985 (COBRA). 
 I have carefully reviewed and fully understand all the provisions of the Agreement and General
Release, including the foregoing Notice. I have not relied on any representation or statement, oral or written, by the Company or any of its representatives, which is not set forth in those documents. 

The Agreement and this General Release, including the foregoing Notice, set forth the entire agreement between me and the Company with respect to this
subject. I understand that my receipt and retention of the separation benefits covered by the Agreement are contingent not only on my execution of this General Release, but also on my continued compliance with my obligations under the Agreement that
survive and continue in effect in accordance with the Respective terms thereof, notwithstanding any termination of employment, including, without limitation, Section 9 thereof. I acknowledge that the Company gave me at least twenty-one (21) days to consider whether I wish to accept or reject the separation benefits I am eligible to receive under the Agreement in exchange for this General Release. I also acknowledge that the Company
advised me to seek independent legal advice as to these matters, if I chose to do so. I hereby represent and state that I have taken such actions and obtained such information and independent legal or other advice, if any, that I believed were
necessary for me to fully understand the effects and consequences of the Agreement and General Release prior to signing those documents. 

[Signature Page Follows] 

  
 -2- 

 Dated this      day of         ,
        . 
  

							
	CHAPARRAL ENERGY, LLC	  	EXECUTIVE
				
	By:	 	                                      
                                        	  	By:	 	                                      
                                  
		 	K. Earl Reynolds	  		 	Scott Pittman
		 	Chief Executive Officer	  		 	
		
	Date
Signed:                                        
                         	  	Date
Signed:                                        
                   
			
	CHAPARRAL ENERGY, INC.	  		 	
				
	By:	 	                                      
                                        	  		 	
		 	K. Earl Reynolds	  		 	
		 	Chief Executive Officer	  		 	
			
	Date
Signed:                                        
                         	  		 	

  
 -3-EX-10.1

 Exhibit 10.1 

EXECUTION COPY 

EMPLOYMENT AGREEMENT 

THIS EMPLOYMENT AGREEMENT (this “Agreement”) is made as of April 23, 2019, by and between Burlington Stores, Inc., a
Delaware corporation (the “Company”), and Michael O’Sullivan (“Executive”). 
 WHEREAS, the Company
desires to employ Executive during the Employment Period, and Executive is willing to accept employment with the Company, on the terms and conditions set forth herein; and 

WHEREAS, the agreements of Executive in Sections 5, 6 and 7 are material inducements to enter
into this Agreement. 
 In consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
  

	 	1.	 Definitions. In this Agreement:

“409A Penalties” has the meaning given to that term in Section 24. 

“Agreement” has the meaning set forth in the preamble above. 

“Base Salary” has the meaning given to that term in Section 3(a). 

“Board” means the Board of Directors of the Company. 

“Cause” means Executive (i) is convicted of a felony or other crime involving dishonesty towards the Company or any of
its Subsidiaries or material misuse of property of the Company or any of its Subsidiaries; (ii) engages in willful misconduct or fraud with respect to the Company or any of its Subsidiaries or any of their customers or suppliers or an
intentional act of dishonesty or disloyalty in the course of Executive’s employment; (iii) materially breaches any written policy of the Company, including the Company’s policies prohibiting unlawful harassment, discrimination or
retaliation, which breach, if capable of being cured, is not cured within 15 days after written notice thereof to Executive; (iv) refuses to perform Executive’s material obligations under this Agreement (except in connection with a
Disability) as reasonably directed by the Board, which failure, if capable of being cured, is not cured within 15 days after written notice thereof to Executive; (v) misappropriates one or more of the Company’s or any of its
Subsidiaries business opportunities or material assets; or (vi) breaches Sections 5, 6 or 7 hereof which breach, if capable of being cured, is not cured within 10 days of written notice
thereof has been delivered to Executive; or (vii) materially breaches this Agreement, which breach, if capable of being cured, is not cured within 15 days after written notice thereof to Executive. In each such case where notice and cure
is required (i.e. pursuant to clauses (iii), (iv), (vi) and (vii)), such notice shall describe the condition giving rise to “Cause” with reasonable specificity. The Company may allow Executive an extension of time to cure a breach
if the Board, in its sole discretion, determines that such extension is appropriate under the circumstances. 

  
 1 

 EXECUTION COPY 

 

 “Code” means the Internal Revenue Code of 1986, as amended. 

“Commencement Date” shall mean the effective date of Executive’s commencement of employment with the Company, which shall
be a date mutually agreed to between the Company and Executive, with such effective date of employment expected to be on or about September 16, 2019 (but in any event no later than November 1, 2019). 

“Committee” means the Compensation Committee of the Board. 

“Company” has the meaning set forth in the preamble above, together with its Subsidiaries and affiliates and includes all
predecessor entities. 
 “Competing Business” has the meaning given to that term in Section 7(a). 

“Confidential Information” has the meaning given to that term in Section 5(a). 

“Court” has the meaning given to that term in Section 8(b). 

“Disability” means Executive’s inability to perform the essential duties, responsibilities and functions of
Executive’s position with the Company and its Subsidiaries for any period totaling one hundred and eighty (180) days in any consecutive twelve (12) month period as a result of any mental or physical disability or incapacity, as
determined under the definition of disability in the Company’s long-term disability plan so as to qualify Executive for benefits under the terms of that plan or as determined by an independent physician to the extent no such plan is then in
effect. Executive shall cooperate in all respects with the Company if a question arises as to whether Executive has become disabled (including, without limitation, submitting to an examination by a medical doctor or other health care
specialists selected by the Company and authorizing such medical doctor or such other health care specialist to discuss Executive’s condition with the Company). 

“Employment Period” means the period commencing on the Commencement Date and ending on the date set forth
in Section 4(a). 
 “Executive” has the meaning set forth in the preamble above. 

“Fiscal 2019 LTI Grant” has the meaning given to that term in Section 3(c). 

“Good Reason” means the occurrence of any of the following events without the written consent of Executive: (i) a
material diminution of Executive’s duties or the assignment to Executive of duties that are inconsistent in any substantial respect with the position, authority or responsibilities associated with Executive’s position as set forth pursuant
to Section 2(b), other than any such authorities, duties or responsibilities assigned at any time which are by their nature, or which are identified at the time of assignment, as being temporary or short-term; (ii) the
Company’s requiring Executive to be based at a location which is fifty (50) or more miles from the Company’s New Jersey corporate headquarters; or (iii) a material breach by the Company of its obligations pursuant to this
Agreement (including, without limitation, its obligations pursuant to Section 3) (which such breach goes uncured after notice and a reasonable opportunity to cure); provided, however, no condition enumerated in the
preceding shall be 

  
 2 

 EXECUTION COPY 

 

	 	
deemed to be “Good Reason” unless within thirty (30) days after Executive’s knowledge of the initial existence of such condition, Executive shall have given the Company
written notice thereof specifically describing the condition giving rise to “Good Reason” and allowing the Company a period of thirty (30) days from the date of receipt of the notice to remedy such condition, and the Company shall
have failed to cure such condition within such period. Notwithstanding the foregoing, in no event will a condition give rise to “Good Reason” hereunder unless within ten (10) days after the expiration of the period provided in
Executive’s notice to the Company to remedy said condition but in no event later than one hundred and twenty (120) days after the initial existence of said condition, Executive shall have actually terminated his employment with the Company
by giving written notice of resignation for failure of the Company to remedy such condition. 

 “Government
Agencies” has the meaning given to that term in Section 5(c). 
 “Make-Whole Grant” has
the meaning given to that term in Section 3(l). 
 “Non-Compete Period”
has the meaning given to that term in Section 7(a). 
 “Payments” has the meaning given to that term
in Section 23. 
 “Plan” has the meaning given to that term in Section 3(l). 

“Prior Employer” has the meaning given to that term in Section 9(c). 

“Prior Employer Claims” has the meaning given to that term in Section 9(c). 

“Sign-On Bonus” has the meaning given to that term in Section 3(j).

 “Subsidiaries” means any corporation or other entity of which the securities or other ownership interests having the
voting power to elect a majority of the board of directors or other governing body are, at the time of determination, owned by the Company, directly or through one of more Subsidiaries. 

“Target Bonus” has the meaning given to that term in Section 3(b). 

“Termination Year” means the calendar year in which the Employment Period is terminated. 

“Work Product” has the meaning given to that term in Section 6. 

 

	 	2.	 Employment, Position and Duties. 

 

	 	(a)	 The Company shall employ Executive and Executive hereby accepts employment with the Company, upon the terms and
conditions set forth in this Agreement for the Employment Period. 

  

	 	(b)	 During the Employment Period, Executive shall serve as Chief Executive Officer of the Company and shall perform
the normal duties, responsibilities and 

  
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functions of a Chief Executive Officer of a company of a similar size and type and shall have such power and authority as shall reasonably be required to enable Executive to perform
Executive’s duties hereunder, subject to the power and authority of the Board to expand or limit such duties, responsibilities, functions, power and authority and to overrule actions of officers of the Company in a manner consistent with the
traditional responsibilities of the office of Chief Executive Officer. As of the Commencement Date, Executive shall serve as a member of the Board and, during the Employment Period, the Board shall cause Executive to be nominated for election
as a member of the Board and, subject to applicable law, the Company shall use its best efforts to secure such election. Upon the Commencement Date, Executive’s principal place of work shall be located in Burlington, New Jersey.

  

	 	(c)	 During the Employment Period, Executive shall (i) render such administrative, financial and other
executive and managerial services to the Company and its Subsidiaries which are consistent with Executive’s position as Chief Executive Officer, as the Board may from time to time direct, (ii) report to the Board and devote
Executive’s best efforts and Executive’s full business time and attention (except for permitted vacation periods and reasonable periods of illness or other incapacity) to the business and affairs of the Company and its Subsidiaries and
(iii) submit to the Board all business, commercial and investment opportunities presented to Executive or of which Executive becomes aware which relate to the business of the Company and its Subsidiaries, and unless approved by the Board in
writing, Executive shall not pursue, directly or indirectly, any such opportunities on Executive’s own behalf. In furtherance of the preceding, Executive shall perform Executive’s duties, responsibilities and functions to the Company and
its Subsidiaries hereunder to the best of Executive’s abilities in a diligent, trustworthy and professional manner and shall devote his full business time and efforts to the business and affairs of the Company. Executive shall not become a
director of any entity without first receiving the approval of the Nominating and Corporate Governance Committee of the Board, which shall not be unreasonably withheld. 

 

	 	3.	 Compensation and Benefits. 

 

	 	(a)	 Effective as of the Commencement Date, Executive’s base salary shall be a minimum of One Million Three
Hundred Thousand Dollars ($1,300,000.00) per annum (as increased in accordance with this Agreement from time to time, the “Base Salary”), which salary shall be payable by the Company in regular installments in accordance with the
Company’s general payroll practices (in effect from time to time). Executive’s Base Salary will be subject to annual review and increase or decrease (but shall not be decreased below the Base Salary in effect on the date of this Agreement)
by the Committee during the Employment Period. 

  

	 	(b)	 Executive shall be entitled to participate in the Company’s Senior Management Bonus Plan approved by the
Committee, as in effect from time to time, with a target annual bonus of one hundred fifty percent (150%) of Executive’s Base 

  
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Salary (“Target Bonus”) or such greater amount as the Committee in its sole discretion may from time to time determine; provided, however, that, with respect to the
bonus period within which the Commencement Date occurs (and subject to Executive’s meeting all requirements under the applicable bonus plan in such period), the bonus payable to Executive, if any, will be prorated based on the number of days
between the Commencement Date and the end of such bonus period divided by the total number of days in the bonus period. The actual amount of the bonus earned by and payable to Executive for any year or portion of a year, as applicable, shall be
determined upon the satisfaction of goals and objectives established by the Committee, and shall be subject to such other terms and conditions of the applicable bonus plan as in effect from time to time. Except as provided in
Section 4(b)(i), bonuses under any bonus plan (including, without limitation, the Company’s Senior Management Bonus Plan) are not earned and not payable in the event that Executive is not employed by Company on the
actual payment date of any such bonus. Notwithstanding anything herein to the contrary, the annual bonus payable under this Section 3(b) shall be paid no later than 2 1/2 months following the conclusion of the
Company’s fiscal year in which such bonus is earned. 

  

	 	(c)	 Beginning in fiscal year 2020, in each fiscal year during the Employment Period in which Executive is actively
serving as Chief Executive Officer on the regularly-scheduled date of annual grants of long-term incentives to senior executives, the Company shall provide to Executive a long-term incentive award. The fiscal 2019 long-term incentive award shall
have a target grant date fair value equal to $8,500,000, which amount shall be prorated based on the number of days served between the Commencement Date and the next regularly scheduled annual equity grant date for senior executive officers divided
by 365 (the “Fiscal 2019 LTI Grant”). The Fiscal 2019 LTI Grant shall be delivered as follows: (i) 50% of the target award shall be awarded in the form of performance-based restricted stock units with vesting in fiscal 2022 based on
performance goals relating to EBIT Margin Expansion and Sales CAGR, as established by the Committee, over the fiscal 2019 to fiscal 2021 performance period and subject to Executive’s continued employment through the applicable vesting date;
(ii) 25% of the target award shall be awarded in the form of stock options, vesting in 25% annual increments subject to Executive’s continued employment through the applicable vesting date; and (iii) the remaining 25% of the target award
shall be awarded in the form of time-based restricted stock units, vesting in 25% annual increments subject to Executive’s continued employment through the applicable vesting date. The Fiscal 2019 LTI Grant shall be awarded on the Commencement
Date (or, if the Commencement Date is not a trading day on the New York Stock Exchange, the first trading day following the Commencement Date) and shall be subject to the same form of award agreements as those used with respect to the fiscal 2019
long-term incentive awards granted to the Company’s other senior executive officers in fiscal 2019. Beginning in fiscal 2020, long-term incentive grants shall be determined by the Committee and shall be through equity vehicles and designs that
are generally consistent with those awarded to the Company’s other senior executive officers in each year. 

  
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	 	(d)	 The Committee, during the term of this Agreement shall review annually, or at more frequent intervals which the
Committee determines is appropriate, Executive’s compensation and may award Executive additional compensation as the Committee deems appropriate in its sole discretion. 

 

	 	(e)	 Executive shall be entitled to the number of paid vacation and other paid time off in each calendar year in
accordance with the Company’s policies applicable to employees of comparable level, which if not taken in any year may not be carried forward to any subsequent calendar year and no compensation shall be payable in lieu thereof.

  

	 	(f)	 During the Employment Period, the Company shall reimburse Executive for all reasonable business expenses
incurred by Executive in the course of performing Executive’s duties, responsibilities and functions under this Agreement which are consistent with the Company’s policies in effect from time to time with respect to travel, entertainment
and other business expenses, subject to the Company’s requirements with respect to reporting and documentation of such expenses. 

  

	 	(g)	 Executive shall be entitled to participate in the Company automobile program in effect from time to time on the
same terms as made available to employees of comparable level. Currently, such program provides for a car allowance for executive of $35,000 per year. Executive, at Executive’s discretion, may apply such allowance towards the cost of lease or
purchase of an automobile or towards the costs of car service or other similar transportation service, but Executive shall not be entitled to any additional allowance or reimbursement in respect of the same. 

 

	 	(h)	 Executive shall be entitled to participate, on the same basis as other executives of comparable level in the
Company, in any compensation, bonus, incentive, award, expense medical reimbursement, deferred compensation, pension, retirement, stock award, stock option or other benefit, plan or arrangement of the Company (including, without limitation, any plan
sponsored by the entity owning or controlling the Company, or any affiliate of such entity) now existing or hereafter adopted, all upon terms at least as favorable as those enjoyed by other salaried employees of comparable level of the Company;
provided, however, the Company may restrict or exclude Executive’s participation in any such plan, or the benefits thereunder, on such terms and conditions as the Company shall in its sole discretion determine, if at any time
Executive shall be working fewer than five days a week (excluding vacation and paid time-off taken in accordance with the Company’s policies) or on other part-time basis during regular business
days. Executive also shall be entitled to hospital, health, disability, medical and life insurance, and any other benefits enjoyed, from time to time, by other salaried employees of the Company of comparable level, all upon terms as favorable
as those enjoyed by other salaried employees of comparable level of the Company. Notwithstanding anything in this Section 3(h) to the contrary, if the Company adopts any change in the benefits provided for other salaried
employees of the Company of comparable level, and such policy is uniformly applied to all such employees of the Company (and any successor or acquirer of the Company, if any), then no such change shall be deemed a breach by the Company of
this Section 3(h). 

  
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	 	(i)	 Executive will be indemnified and defended for acts performed (or omissions made) in Executive’s capacity
as an officer or director of the Company to the fullest extent specified in the Company’s certificate of incorporation and bylaws and as permitted under Delaware law. During Executive’s employment and membership on the Board and for not
less than six (6) years following the latest termination thereof, the Company shall insure Executive under a contract of directors and officers liability insurance to the same extent as members of the Board are so insured.

  

	 	(j)	 As soon as reasonably practicable (but not later than thirty (30) days) following the Commencement Date,
the Company will make a one-time payment to Executive in an aggregate amount of $250,000 (the “Sign-On Bonus”) intended to defray certain expenses
Executive may incur in connection with his relocation from California to a non-temporary residence within reasonable commuting distance from the Company’s principal offices in Burlington, New Jersey. Such
payment shall be subject to all customary withholding, payroll and other taxes and shall not, for the avoidance of doubt, be grossed up for any such taxes. Notwithstanding anything herein to the contrary, if the Company terminates Executive’s
employment for Cause (as defined herein) or Executive resigns from the Company without Good Reason (as defined herein), in each case, prior to the 18-month anniversary of the Commencement Date, Executive shall
repay to the Company the Sign-On Bonus within ten (10) days of Executive’s termination of employment, without the necessity of any demand by the Company; provided, further, to the
extent permitted by applicable law and in accordance with Section 409A of the Code, if Executive is required to repay the Sign-On Bonus, then the Company shall be entitled to offset the required repayment
amount against any compensation or other amounts due from the Company to Executive. 

  

	 	(k)	 The Company shall reimburse Executive for all reasonable moving expenses incurred in connection with his
relocation from California to a residence within commuting distance to the Company’s corporate headquarters in accordance with the Company’s relocation policy for senior executive officers. It is understood that Executive shall have 24
months from the Commencement Date to avail himself of the relocation benefits described in the relocation policy. Such reimbursement shall be subject to all customary withholding, payroll and other taxes and shall not, for the avoidance of doubt, be
grossed up for any such taxes. Notwithstanding anything herein to the contrary, if the Company terminates Executive’s employment for Cause or Executive resigns from the Company without Good Reason, in each case, prior to the 18-month anniversary of the relocation payment date, Executive shall repay to the Company the relocation benefits within ten (10) days of Executive’s termination of employment, without the necessity of any
demand by the Company; provided, 

  
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further, to the extent permitted by applicable law and in accordance with Section 409A of the Code, if Executive is required to repay the relocation benefits, then the Company shall
be entitled to offset the required repayment amount against any compensation or other amounts due from the Company to Executive. 

  

	 	(l)	 In consideration of and to compensate Executive for equity awards forfeited at his Prior Employer, and subject
to the commencement of Executive’s employment hereunder and to his provision, within five (5) business days prior to the Commencement Date, of documentation reasonably establishing that such forfeiture has occurred, Executive shall
receive, effective upon the Commencement Date, a make-whole long-term incentive grant with a target grant date fair value of $25,000,000 (the “Make-Whole Grant”) delivered as follows: (i) 50% of the target award shall be awarded in
the form of stock options, with the exercise price of such options set at the Company’s closing share price on the Commencement Date, vesting in one-third annual increments subject to Executive’s
continued employment through the applicable vesting date, and (ii) the remaining 50% of the target award shall be awarded in the form of time-based restricted stock units, vesting in one-third annual
increments subject to Executive’s continued employment through the applicable vesting date. The Make-Whole Grant shall be subject to the same form of award agreements as those used with respect to the fiscal 2019 long-term incentive awards
granted to the Company’s other senior executive officers in fiscal 2019. The equity awards granted hereunder may be granted to Executive as an “employment inducement award” under NYSE Rule 303A.08, outside of the Burlington Stores,
Inc. 2013 Omnibus Incentive Plan, as amended and restated on May 17, 2017 (the “Plan”). Notwithstanding that the equity awards are being granted outside of the Plan, except as expressly provided otherwise, the equity awards
will be governed in a manner consistent with the terms and conditions of the Plan. 

  

	 	4.	 Termination and Payment Terms. 

(a) The Employment Period shall commence on the date hereof and shall terminate, (i) immediately upon Executive’s resignation, death
or Disability or (ii) by resolution of the Board, with or without Cause, at any time. Except as otherwise provided herein, any termination of the Employment Period by the Company shall be effective as specified in a written notice from the
Company to Executive. For the avoidance of doubt, Executive’s employment with the Company is “at will,” subject only to the notice and severance provisions expressly set forth herein. 

 

	 	(b)	 If the Employment Period is terminated: 

(i)    by resolution of the Board (other than for Cause or Disability) or by Executive resigning for Good
Reason, Executive shall be entitled to receive (A) all previously earned and accrued but unpaid Base Salary and vacation and unpaid business expenses up to the date of such termination, (B) an amount equal to the bonus (if any) under the
Senior Management Bonus Plan with respect to the fiscal year prior to the Termination Year that has been determined (or is determinable) but not yet paid to 

  
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Executive, which payment shall be made when the bonus payments for such Termination Year are otherwise due (but in any event no later than 21⁄2 months following the conclusion of the Company’s fiscal year in which the bonus is earned), (C) severance pay in an amount equal to two times the sum of (x) Executive’s Base Salary in effect
immediately prior to Executive’s termination of employment hereunder and (y) Executive’s Target Bonus under the Senior Management Bonus Plan for the year in which the termination of employment occurs, payable in 24 monthly
installments following the termination of Executive’s employment in accordance with the Company’s standard payroll practices, and (D) full continuation of Executive’s health, dental and vision insurance benefits during the two
(2) year severance period; or 
 (ii) for any other reason, including as a result of Executive’s death, Disability,
voluntary resignation for other than Good Reason or by resolution of the Board for Cause, Executive’s sole entitlement shall be to receive all previously earned and accrued but unpaid Base Salary, vacation and unpaid business expenses up to the
date of such termination and Executive shall not be entitled to any further Base Salary, bonus payments or benefits for that year or any future year, except as required by law, or to any other severance compensation of any kind. 

 

	 	(c)	 Executive agrees that: (i) Executive shall be entitled to the payments and services provided for in
Sections 4(b)(i)(B), 4(b)(i)(C), and 4 (b) (i) (D), if any, if and only if
Executive has executed and delivered a customary release in a form acceptable to the Company (the “Release”) (and no longer subject to revocation, if applicable) within fifty two (52) days following the date of termination and
Executive has not breached as of the date of termination of the Employment Period the provisions of Sections 5, 6 and 7 hereof and does not breach such sections or such covenants at any time during the
period for which such payments or services are to be made; and (ii) the Company’s obligation to make such payments and services will terminate upon the occurrence of any such breach during such period. Executive shall not have any
obligation to mitigate the amounts payable to him pursuant to Sections 4(b)(i)(B), 4(b)(i)(C) and 4(b)(i)(D) by seeking or accepting alternative employment; provided, that Executive’s rights to receive the
benefits provided for in Section 4(b)(i)(D) shall cease at such time as he is eligible to be covered under the health, dental or vision insurance benefits, as applicable, of any subsequent employer. 

 

	 	(d)	 Except as stated above, any payments pursuant to Section 4(b) shall be paid by the Company in regular
installments in accordance with the Company’s general payroll practices, and following such payments the Company shall have no further obligation to Executive pursuant to this Section 4 except as provided by law; provided that to
the extent that the payment of any amount constitutes “nonqualified deferred compensation” for purposes of Section 409A of the Code, any such payment scheduled to occur during the first sixty (60) days following the termination
of employment shall not be paid until the first regularly scheduled pay period following the sixtieth (60th) day following such termination and shall include payment of any amount that was otherwise scheduled to be paid prior thereto. All amounts
payable to Executive as compensation hereunder shall be 

  
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subject to all customary withholding, payroll and other taxes. The Company shall be entitled to deduct or withhold from any amounts payable to Executive any federal, state, local or foreign
withholding taxes, excise tax, or employment taxes imposed with respect to Executive’s compensation or other payments or Executive’s ownership interest in the Company (including, without limitation, wages, bonuses, dividends, the receipt
or exercise of equity options and/or the receipt or vesting of restricted equity). 

  

	 	(e)	 Executive hereby agrees that except as expressly provided herein, no severance compensation of any kind, nature
or amount shall be payable to Executive and except as expressly provided herein, Executive hereby irrevocably waives any claim for severance compensation. 

  

	 	(f)	 Except as provided in Sections 4(b)(i) and 4(b)(ii) above, all
of Executive’s rights pursuant to Section 3 (other than Section 3(i)) shall cease upon the termination of the Employment Period. 

 

	 	5.	 Confidential Information. 

 

	 	(a)	 Executive acknowledges and agrees that the information, observations and data (including trade secrets)
obtained by Executive while employed by the Company and its Subsidiaries (or, prior to the term of employment, in contemplation of such employment) concerning the business or affairs of the Company and its Subsidiaries are the confidential
information (“Confidential Information”), and the property, of the Company and/or its Subsidiaries. Without limiting the foregoing, the term “Confidential Information” shall be interpreted as broadly as possible to include
all observations, data and other information of any sort that are (i) related to any past, current or potential business of the Company or any of its Subsidiaries or any of their respective predecessors, and any other business related to any of
the foregoing, and (ii) not generally known to and available for use by those within the line of business or industry of the Company or by the public (except to the extent such information has become generally known to and available for use by
the public as a direct or indirect result of Executive’s acts or omissions) including all (A) Work Product (as defined below); (B) information concerning development, acquisition or investment opportunities in or reasonably related to the
business or industry of the Company or any of its Subsidiaries of which Executive is aware or becomes aware during the term of his employment; (C) information identifying or otherwise concerning any current, former or prospective suppliers,
distributors, contractors, agents or customers of the Company or any of its Subsidiaries; (D) development, transition, integration and transformation plans, methodologies, processes and methods of doing business; (E) strategic, marketing,
promotional and financial information (including all financial statements), business and expansion plans, including plans and information regarding planned, projected and/or potential sales, pricing, discount and cost information;
(F) information identifying or otherwise concerning employees, independent contractors and consultants; (G) information on new and existing programs and services, prices, terms, and related information; (H) the

  
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terms of this Agreement; (I) all information marked, or otherwise designated, as confidential by the Company or any of its Subsidiaries or which Executive should reasonably know is
confidential or proprietary information of the Company or any of its Subsidiaries; (J) all information or materials similar or related to any of the foregoing, in whatever form or medium, whether now existing or arising hereafter (and
regardless of whether merely stored in the mind of Executive or employees or consultants of the Company or any of its Subsidiaries, or embodied in a tangible form or medium); and (K) all tangible embodiments of any of the foregoing.

  

	 	(b)	 Therefore, Executive agrees that, except as set forth in Section 5(c) or required by
law or court order, including, without limitation, depositions, interrogatories, court testimony, and the like (and in such case provided that Executive must give the Company and/or its Subsidiaries, as applicable, prompt written notice of any such
legal requirement, disclose no more information than is so required and seek, at the Company’s sole cost and expense, confidential treatment where available and cooperate fully with all efforts by the Company and/or its Subsidiaries to obtain a
protective order or similar confidentiality treatment for such information) or in connection with Executive’s performance of his duties hereunder, Executive shall not disclose to any unauthorized person or entity or use for Executive’s own
purposes any Confidential Information without the prior written consent of the Board, unless and to the extent that the Confidential Information becomes generally known to and available for use by the public other than as a direct or indirect result
of Executive’s acts or omissions. Executive shall deliver to the Company at the termination of the Employment Period, or at any other time the Company may request, all memoranda, notes, plans, records, reports, computer tapes, printouts and
software and other documents and data (and copies thereof) embodying or relating to the Confidential Information (including any Work Product (as defined below)) or the business of the Company and its Subsidiaries which Executive may then possess or
have under Executive’s control and if, at any time thereafter, any such materials are brought to Executive’s attention or Executive discovers them in his possession or control, Executive shall deliver such materials to the Company
immediately upon such notice or discovery. 

  

	 	(c)	 Notwithstanding anything in this Agreement to the contrary, Executive understands that nothing contained in
this Agreement limits his ability to report possible violations of law or regulation to or file a charge or complaint with the Securities and Exchange Commission, the Equal Employment Opportunity Commission, the National Labor Relations Board, the
Occupational Safety and Health Administration, the Department of Justice, the Congress, any Inspector General, or any other federal, state or local governmental agency or commission or regulatory authority (collectively, “Government
Agencies”). Executive further understands that this Agreement does not limit his ability to communicate with any Government Agencies or otherwise participate in any investigation or proceeding that may be conducted by any Government Agency,
including providing documents or other information, without notice to the Company. Furthermore (I) Executive shall not be held criminally or civilly liable under any 

  
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federal or state trade secret law for the disclosure of a trade secret that: (A) is made (i) in confidence to a federal, state, or local government official, either directly or
indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under
seal, and (II) if Executive files a lawsuit for retaliation by the Company for reporting a suspected violation of law, Executive may disclose a trade secret to his or her attorney and use the trade secret information in the court proceeding, if
Executive files any document containing the trade secret under seal and does not disclose the trade secret except pursuant to court order. 

6.    Intellectual Property, Inventions and Patents. Executive acknowledges and agrees that all discoveries,
concepts, ideas, inventions, innovations, improvements, developments, methods, specifications, designs, analyses, drawings, reports, patents and patent applications, processes, programs, systems, software, firmware, materials, plans, sketches,
models, know-how, devices, developments, data, databases, technology, trade secrets, works of authorship, copyrightable works and mask works (whether or not including any confidential information) and all
registrations or applications related thereto, all other intellectual property or proprietary information and all similar or related information (whether or not patentable or copyrightable and whether or not reduced to tangible form or practice)
which relate to the Company’s or any of its Subsidiaries’ actual or anticipated business, research and development or existing or future products or services and which are conceived, developed or made by Executive (whether alone or jointly
with others) while employed by the Company or its predecessors and its Subsidiaries (“Work Product”) shall be deemed to be “work made for hire” (as defined in the Copyright Act, 17 U.S.C.A. § 101 et seq., as
amended) and owned exclusively by the Company. To the extent that any Work Product is not deemed to be “work made for hire” under applicable law, and all right, title and interest in and to such Work Product have not automatically
vested in the Company, Executive hereby (A) irrevocably assigns, transfers and conveys, and shall assign transfer and convey, to the full extent permitted by applicable law, all right, title and interest in and to the Work Product on a
worldwide basis to the Company (or such other person or entity as the Company shall designate), without further consideration, and (B) waives all moral rights in or to all Work Product, and to the extent such rights may not be waived, agrees
not to assert such rights against the Company or its respective licensees, successors or assigns. Executive shall, at the Company’s expense, execute all documents and perform all actions reasonably requested by the Board (whether during or
after the Employment Period) to establish, confirm, evidence, effectuate, maintain, protect, enforce, perfect, record, patent or register any of the Company’s rights hereunder (including, without limitation, assignments, consents, powers of
attorney and other instruments). 
  

	 	7.	 Non-Compete,
Non-Solicitation. 

  

	 	(a)	 In further consideration of the compensation to be paid to Executive hereunder, Executive acknowledges and
agrees that during the course of Executive’s employment with the Company and its Subsidiaries Executive shall become familiar with the Company’s trade secrets and with other Confidential Information and that Executive’s services have
been and shall be of special, unique and extraordinary value to the Company and its Subsidiaries, and 

  
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therefore, Executive agrees that, during his or her employment with the Company and for a period of two (2) years thereafter (the “Non-Compete
Period”), Executive shall not directly or indirectly (whether as an owner, partner, shareholder, agent, officer, director, employee, independent contractor, consultant or otherwise) own any interest in, operate, invest in, manage, control,
participate in, consult with, render services for (alone or in association with any person or entity), in any manner engage in any business activity on behalf of a Competing Business within any geographical area in which the Company or its
Subsidiaries operates or plan to operate. Nothing herein shall prohibit Executive from being a passive owner of not more than 2% of the outstanding stock of any class of a corporation which is publicly traded, so long as Executive has no active
participation in the business of such corporation. For purposes of this paragraph, “Competing Business” means only each of the following entities, together with their respective subsidiaries and affiliates: Macy’s,
Inc., the TJX Companies, Inc. and Ross Stores, Inc. 

  

	 	(b)	 During the Non-Compete Period, Executive shall not, directly or
indirectly, and shall ensure that any person or entity controlled by Executive does not, (i) induce or attempt to induce any employee of the Company or any Subsidiary to leave the employ of the Company or such Subsidiary, or in any way
interfere with the relationship between the Company or any Subsidiary and any employee thereof, (ii) hire, directly or through another person, any person (whether or not solicited) who was an executive of the Company or any Subsidiary at any
time within the one year period before Executive’s termination from employment, (iii) induce or attempt to induce any customer, supplier, licensee, licensor, franchisee or other business relation of the Company or any Subsidiary to cease
doing business with the Company or such Subsidiary, engage in or assist any person or entity in engaging in any Competing Business or in any way interfere with the relationship between any such customer, supplier, licensee or business relation and
the Company or any Subsidiary (Executive understands that any person or entity that Executive contacted during the one year period prior to the date of Executive’s termination of employment for the purpose of soliciting sales from such person
or entity shall be regarded as a “potential customer” of the Company and its Subsidiaries as to whom the Company has a protectible proprietary interest) or (iv) make or solicit or encourage others to make or solicit directly or
indirectly any defamatory statement or communication about the Company or any of its Subsidiaries or any of their respective businesses, products, services or activities (it being understood that such restriction shall not prohibit truthful
testimony compelled by valid legal process). 

  

	 	8.	 Enforcement. 

  

	 	(a)	 Executive acknowledges and agrees that the Company entered into this Agreement in reliance on the provisions of
Sections 5, 6 and 7 and the enforcement of this Agreement is necessary to ensure the preservation, protection and continuity of the business of the Company and its Subsidiaries and other Confidential Information and goodwill of
the Company and its Subsidiaries to the 

  
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extent and for the periods of time expressly agreed to herein. Executive acknowledges and agrees that he has carefully read this Agreement and has given careful consideration to the
restraints imposed upon Executive by this Agreement, and is in full accord as to their necessity for the reasonable and proper protection of confidential and proprietary information of the Company and its Subsidiaries now existing or to be developed
in the future. Executive expressly acknowledges and agrees that each and every restraint imposed by this Agreement is reasonable with respect to subject matter, time period and geographical area. 

 

	 	(b)	 Notwithstanding any provision to the contrary herein, the Company or its Subsidiaries may pursue, at its
discretion, enforcement of Sections 5, 6 and 7 in any court of competent jurisdiction (each a “Court”). 

 

	 	(c)	 Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and
valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall not affect
any other provision or any other jurisdiction, but this Agreement shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein. More specifically, if any Court
determines that any of the covenants set forth in Sections 5, 6 and 7 are overbroad or unreasonable under applicable law in duration, geographical area or scope, the parties to this
Agreement specifically agree and authorize such Court to rewrite this Agreement to reflect the maximum duration, geographical area and/or scope permitted under applicable law. 

 

	 	(d)	 Because Executive’s services are unique and because Executive has intimate knowledge of and access to
Confidential Information and Work Product, the parties hereto agree that money damages would not be an adequate remedy for any breach of Sections 5, 6 and 7, and any breach of the terms
of Sections 5, 6 and 7 would result in irreparable injury and damage to the Company and its Subsidiaries for which the Company and its Subsidiaries would have no adequate remedy at
law. Therefore, in the event of a breach or threatened breach of Sections 5, 6 and 7, the Company or its successors or assigns, in addition to any other rights and remedies existing in their favor
at law or in equity, shall be entitled to specific performance and/or immediate injunctive or other equitable relief from a Court in order to enforce, or prevent any violations of, the provisions hereof (without posting a bond or other security),
without having to prove damages. The terms of this Section 8 shall not prevent the Company or any of its Subsidiaries from pursuing any other available remedies for any breach or threatened breach of this Agreement,
including the recovery of damages from Executive. 

  

	 	9.	 Executive’s Representations; Prior Employment. 

 

	 	(a)	 Executive hereby represents and warrants to the Company that, subject to the acknowledgements and agreements of
Company and Executive set forth 

  
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in Section 9(c) below, (i) the execution, delivery and performance of this Agreement by Executive does not and shall not conflict with, breach, violate or cause a default
under any contract, agreement, covenant, restriction, instrument, order, judgment or decree to which Executive is a party or by which he is bound (including any arising out of any prior employment), (ii) Executive is not a party to or bound by
any contract, agreement, covenant, restriction, instrument, order, judgment or decree with any other person or entity (including any arising out of any prior employment) that would restrict Executive from performing the services contemplated
hereunder, and (iii) upon the execution and delivery of this Agreement by the Company, this Agreement shall be the valid and binding obligation of Executive, enforceable in accordance with its terms. 

 

	 	(b)	 Executive hereby agrees that he shall not use or disclose confidential information or trade secrets, if any, of
any former employers or any other person or entity to whom Executive owes an obligation of confidentiality, and that he shall not bring onto the premises of the Company any unpublished documents or any property belonging to any former employer or
any other person or entity to whom Executive owes an obligation of confidentiality. 

  

	 	(c)	 The Company acknowledges that Executive previously entered into an employment agreement, dated March 16,
2017, with his former employer (the “Prior Employer”) which contains restrictive covenants among other provisions that have been disclosed to the Company. Executive shall keep the Company informed regarding any communications,
whether written or oral, that he receives from his Prior Employer and which concern his decision to accept employment with the Company and act as its Chief Executive Officer. 

 

	 	(d)	 In the event that the Prior Employer threatens or asserts any claim that Executive, by accepting the position
of, or acting or performing his duties as, the Chief Executive Officer of the Company, has breached or violated any employment, confidentiality, or other similar agreement that would materially limit Executive’s ability to perform any of his
duties under this Agreement or subject Executive to legal expenses or liability for damages, (collectively, “Prior Employer Claims”) and provided that Executive adheres to the reasonable and lawful instructions of the Company in
connection with Executive’s obligations to the Prior Employer, the Company shall indemnify, defend and hold harmless Executive (and his heirs, legatees and distributees in the event of his death) from and against any damages, amounts paid in
settlement and expenses (including legal fees and expenses) incurred by Executive and arising from any such Prior Employer Claims. The Company shall have the right to select any counsel reasonably acceptable to Executive to represent Executive in
connection with any Prior Employer Claims, and the Company shall have the right to settle or compromise any Prior Employer Claim indemnified hereby. 

  

	 	(e)	 In the event that the Prior Employer brings any Prior Employer Claims, the Company shall have the option to
terminate Executive’s employment with the Company. In the event of any such termination, and notwithstanding anything in 

  
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this Agreement to the contrary, (i) Executive shall have the right to receive the benefits set forth in Sections 4(b)(i)(A), 4(b)(i)(B), and 4 (b) (i) (C) (except that for purposes of this Section 9(e), the phrases “two times” and
“24 monthly” in Section 4(b)(i)(C) shall be replaced with the phrases “one times” and “12 monthly”, respectively, subject to compliance by him with the other applicable provisions of
Section 4 (including Sections 4(b) and 4(c)), (ii) Executive shall continue to be entitled to the benefit of the indemnification set forth in Section 3(h) (including directors and officers liability
insurance) and Section 9(d) above, and (iii) Executive shall not have the right to any other payments, bonuses, or benefits of any kind following such termination, and all of Executive’s right, title, and interest in all
of the equity securities and other benefits granted to him pursuant to this Agreement shall be cancelled in their entirety without any consideration payable in connection therewith and without regard to any of the provisions of such agreements that
would otherwise apply in such circumstances. 

  

	 	(f)	 EXECUTIVE HEREBY ACKNOWLEDGES, AGREES AND REPRESENTS THAT EXECUTIVE HAS CONSULTED WITH INDEPENDENT LEGAL
COUNSEL REGARDING EXECUTIVE’S RIGHTS AND OBLIGATIONS UNDER THIS AGREEMENT AND THAT EXECUTIVE FULLY UNDERSTANDS THE TERMS AND CONDITIONS CONTAINED HEREIN AND THEREIN. 

10.    Survival. Sections 3(i) and Sections 4 through 23,
inclusive, shall survive and continue in full force in accordance with their terms notwithstanding the termination of the Employment Period. 

11.    Notices. Any notice provided for in this Agreement shall be in writing and shall be either personally
delivered, sent by reputable overnight courier service with confirmation of delivery, sent by facsimile (with evidence of transmission) or mailed by first class mail, return receipt requested, to the recipient at the address below indicated: 

To Executive: 
 Michael
O’Sullivan 
 At the last known address set forth on the personnel records of the Company 

To the Company: 
 Burlington
Stores, Inc. 
 1830 Route 130 

Burlington, New Jersey 08016 

Attention: General Counsel 

Facsimile No.: (609) 589-3250 

or such other address or to the attention of such other person as the recipient party shall have specified by prior written notice to the sending
party. Any notice under this Agreement shall be deemed to have been given when personally delivered, one (1) business day following delivery to the overnight courier service, if given by facsimile, when such facsimile is transmitted to the
applicable fax number specified above and the appropriate facsimile confirmation is received, or if so mailed, on receipt. 

  
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 12.    Complete Agreement. This Agreement and those other
documents expressly referred to herein embody the complete agreement and understanding among the parties hereto and supersede and preempt any prior understandings, agreements or representations by or among the parties hereto, written or oral, which
may have related to the subject matter hereof in any way. 
 13.    Counterparts. This Agreement may be
executed in separate counterparts, each of which is deemed to be an original and all of which taken together constitute one and the same agreement. 

14.    Successors and Assigns. This Agreement is intended to bind and inure to the benefit of and be
enforceable by Executive, the Company and their respective heirs, successors and assigns; provided, that the services provided by Executive under this Agreement are of a personal nature and rights and obligations of Executive under this
Agreement shall not be assignable. 
 15.    Choice of Law. All issues and questions concerning the
construction, validity, enforcement and interpretation of this Agreement shall be governed by, and construed in accordance with, the laws of the State of New York, without giving effect to any choice of law or conflict of law rules or provisions
(whether of the State of New York or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of New York. In furtherance of the foregoing, the internal law of the State of New York shall
control the interpretation and construction of this Agreement, even though under that jurisdiction’s choice of law or conflict of law analysis, the substantive law of some other jurisdiction would ordinarily apply. 

16.    Consent to Jurisdiction. EACH OF THE PARTIES IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE
STATE OR FEDERAL COURTS LOCATED IN THE CITY AND STATE OF NEW YORK IN THE BOROUGH OF MANHATTAN FOR THE PURPOSES OF ANY SUIT, ACTION OR OTHER PROCEEDING ARISING OUT OF THIS AGREEMENT, ANY RELATED AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY OR
THEREBY. EACH OF THE PARTIES HERETO FURTHER AGREES THAT SERVICE OF ANY PROCESS, SUMMONS, NOTICE OR DOCUMENT BY U.S. REGISTERED MAIL TO SUCH PARTY’S RESPECTIVE ADDRESS SET FORTH IN SECTION 11 SHALL BE EFFECTIVE SERVICE
OF PROCESS FOR ANY ACTION, SUIT OR PROCEEDING WITH RESPECT TO ANY MATTERS TO WHICH IT HAS SUBMITTED TO JURISDICTION IN THIS SECTION 16. EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY OBJECTION TO THE
LAYING OF VENUE OF ANY ACTION, SUIT OR PROCEEDING ARISING OUT OF THIS AGREEMENT, ANY RELATED DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY IN THE STATE OR FEDERAL COURTS LOCATED IN THE CITY AND STATE OF NEW YORK IN THE BOROUGH OF
MANHATTAN AND HEREBY AND THEREBY FURTHER IRREVOCABLY AND UNCONDITIONALLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH ACTION, SUIT OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. 

  
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 17.    Waiver of Jury Trial. AS A SPECIFICALLY BARGAINED FOR
INDUCEMENT FOR EACH OF THE PARTIES HERETO TO ENTER INTO THIS AGREEMENT AFTER HAVING THE OPPORTUNITY TO CONSULT WITH COUNSEL, EACH PARTY HERETO EXPRESSLY WAIVES THE RIGHT TO TRIAL BY JURY IN ANY LAWSUIT OR PROCEEDING RELATING TO OR ARISING IN ANY WAY
FROM THIS AGREEMENT OR THE MATTERS CONTEMPLATED HEREBY. 
 18.    Amendment and Waiver. The provisions of
this Agreement may be amended or waived only with the prior written consent of the Company (as approved by the Board) and Executive, and no course of conduct or course of dealing or failure or delay by any party hereto in enforcing or exercising any
of the provisions of this Agreement (including, without limitation, the Company’s right to terminate the Employment Period for Cause) shall affect the validity, binding effect or enforceability of this Agreement or be deemed to be an implied
waiver of any provision of this Agreement. 
 19.    Key Man Life Insurance. The Company may apply for and
obtain and maintain a key man life insurance policy in the name of Executive together with other executives of the Company in an amount deemed sufficient by the Board, the beneficiary of which shall be the Company. Executive shall submit to
physical examinations and answer reasonable questions in connection with the application and, if obtained, the maintenance of, as may be required, such insurance policy, the findings of which shall be held in the strictest confidence and used
exclusively for the purpose of obtaining such insurance. 
 20.    Executive’s Cooperation. During the
Employment Period and thereafter, Executive shall cooperate with the Company and its Subsidiaries in any internal investigation or administrative, regulatory or judicial proceeding as reasonably requested by the Company (including, without
limitation, Executive being available to the Company upon reasonable notice for interviews and factual investigations, appearing at the Company’s request to give testimony without requiring service of a subpoena or other legal process,
volunteering to the Company all pertinent information and turning over to the Company all relevant documents which are or may come into Executive’s possession, all at times and on schedules that are reasonably consistent with Executive’s
other permitted activities and commitments). In the event the Company requires Executive’s cooperation in accordance with this section after the termination of the Employment Period, the Company shall reimburse Executive for all of
Executive’s reasonable travel and lodging costs and expenses incurred, in connection therewith, plus pay Executive a reasonable amount per day for Executive’s time spent. 

21.    Clawbacks. The payments to Executive pursuant to this Agreement are subject to forfeiture or recovery by
the Company or other action pursuant to any clawback or recoupment policy which the Company may adopt from time to time, including without limitation any such policy or provision that the Company has included in any of its existing compensation
programs or plans or that it may be required to adopt under the Dodd-Frank Wall Street Reform and Consumer Protection Act and implementing rules and regulations thereunder, or as otherwise required by law. 

  
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 22.     Company Policies. Executive shall be subject to
and shall comply with additional Company policies as they may exist from time-to-time, including the Company’s Code of Conduct and policies with regard to stock
ownership by senior executives and policies regarding trading of securities.

23.    Section 280G. Notwithstanding anything to the contrary in this Agreement, Executive
expressly agrees that if the payments and benefits provided for in this Agreement or any other payments and benefits which Executive has the right to receive from the Company and its affiliates (collectively, the “Payments”), would
constitute a “parachute payment” (as defined in Section 280G(b)(2) of the Code), then the Payments shall be either (a) reduced (but not below zero) so that the present value of the Payments will be one dollar ($1.00) less
than three times Executive’s “base amount” (as defined in Section 280G(b)(3) of the Code) and so that no portion of the Payments received by Executive shall be subject to the excise tax imposed by Section 4999 of the
Code or (b) paid in full, whichever produces the better net after-tax position to Executive. The reduction of Payments, if any, shall be made by reducing first any Payments that are exempt from
Section 409A of the Code and then reducing any Payments subject to Section 409A of the Code in the reverse order in which such Payments would be paid or provided (beginning with such payment or benefit that would be made last in time and
continuing, to the extent necessary, through to such payment or benefit that would be made first in time). The determination as to whether any such reduction in the Payments is necessary shall be made by the Committee in good faith. If a reduced
Payment is made or provided and, through error or otherwise, that Payment, when aggregated with other payments and benefits from Employers (or their affiliates) used in determining if a “parachute payment” exists, exceeds one dollar
($1.00) less than three times Executive’s base amount, then Executive shall immediately repay such excess to the Company. 

24.    Section 409A. This Agreement is intended to comply with the requirements of Section 409A of the Code,
and shall be interpreted and construed consistently with such intent. The payments to Executive pursuant to this Agreement are also intended to be exempt from Section 409A of the Code to the maximum extent possible, under either the separation
pay exemption pursuant to Treasury regulation §1.409A-1(b)(9)(iii) or as short-term deferrals pursuant to Treasury regulation §1.409A-1(b)(4), and for such
purposes, each payment to Executive under this Agreement shall be considered a separate payment. In the event the terms of this Agreement would subject Executive to taxes or penalties under Section 409A of the Code (“409A
Penalties”), the Company and Executive shall cooperate diligently to amend the terms of the Agreement to avoid such 409A Penalties, to the extent possible. To the extent any amounts under this Agreement are payable by reference to
Executive’s “termination of employment” such term and similar terms shall be deemed to refer to Executive’s “separation from service,” within the meaning of Section 409A of the Code. Notwithstanding any other
provision in this Agreement, to the extent any payments made or contemplated hereunder constitute nonqualified deferred compensation, within the meaning of Section 409A, then (i) each such payment which is conditioned upon Executive’s
execution of a release and which is to be paid or provided during a designated period that begins in one taxable year and ends in a second taxable year, shall be paid or provided in the later of the two taxable years and (ii) if Executive is a
specified 

  
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employee (within the meaning of Section 409A of the Code) as of the date of Executive’s separation from service, each such payment that is payable upon Executive’s separation from
service and would have been paid prior to the six-month anniversary of Executive’s separation from service, shall be delayed until the earlier to occur of (A) the first day of the seventh month
following Executive’s separation from service or (B) the date of Executive’s death. Any reimbursement payable to Executive pursuant to this Agreement shall be conditioned on the submission by Executive of all expense reports
reasonably required by Employer under any applicable expense reimbursement policy, and shall be paid to Executive within 30 days following receipt of such expense reports, but in no event later than the last day of the calendar year following the
calendar year in which Executive incurred the reimbursable expense. Any amount of expenses eligible for reimbursement, or in-kind benefit provided, during a calendar year shall not affect the amount of
expenses eligible for reimbursement, or in-kind benefit to be provided, during any other calendar year. The right to any reimbursement or in-kind benefit pursuant to
this Agreement shall not be subject to liquidation or exchange for any other benefit. 
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first
written above. 
  

			
	 BURLINGTON STORES, INC.

		
	By:	 	/s/ Joyce Manning Magrini
	 Name: Joyce Manning Magrini

	 Title: Executive Vice President – Human Resources

	
	/s/ Michael O’Sullivan
	 Michael O’Sullivan

  
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