Document:

Second Amendment to Amended and Restated Agreement

 Exhibit 10.56 
 SECOND AMENDMENT TO AMENDED AND RESTATED REVOLVING 
 CREDIT AND
SECURITY AGREEMENT 
 THIS SECOND AMENDMENT TO AMENDED AND RESTATED REVOLVING CREDIT AND SECURITY AGREEMENT (this
“Amendment”) is entered into on this 25th day of January, 2013 (the “Effective Date”), by and among NEOGENOMICS LABORATORIES, INC., a Florida corporation (“Borrower”), NEOGENOMICS,
INC., a Nevada corporation (“Guarantor”, together with Borrower, individually, a “Credit Party” and collectively, the “Credit Parties”) and CAPITALSOURCE FINANCE LLC, a Delaware limited
liability company (“Lender”) as agent for the lenders to the Credit Agreement. 
 RECITALS

 A. The Credit Parties and Lender have entered into that certain Amended and Restated Revolving Credit and Security
Agreement, dated as of April 26, 2010 (as may be amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”). 
 B. The Credit Parties have requested that Lender agree to make certain amendments to the Credit Agreement. Lender has agreed to this request on the conditions set forth in this Agreement. 

C. Pursuant to the terms and conditions of this Amendment, the Credit Parties and the Lender have agreed to amend certain provisions of
the Credit Agreement. 
 NOW, THEREFORE, in consideration of the premises herein contained and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound, agree as follows: 
 AGREEMENT 
 ARTICLE I – DEFINITIONS 

1.01 Definitions. Capitalized terms used in this Amendment are defined in the Credit Agreement, as amended hereby, unless
otherwise stated. 
 ARTICLE II – AMENDMENT 

2.01 Amendment to Recitals of the Credit Agreement. 

(a) The Second recital of the Credit Agreement is hereby amended by deleting such section in its entirety and replacing it with the
following: 
 WHEREAS, Borrower has requested that Lender make available to Borrower a revolving credit
facility (the “Revolving Facility”) in a maximum principal amount equal to the Facility Cap, the proceeds of which shall be used by Borrower as a provider of healthcare services and for the generation and/or acquisition of
Accounts, and for other lawful purposes not prohibited hereunder; 

 2.02 Amendment to Section 1.2 of the Credit Agreement. Effective as of
the Effective Date, Section 1.2 is hereby amended as follows: 
 (a) The definition of “Facility Cap” is
hereby deleted in its entirety and replaced with: 
 “Facility Cap” shall mean Ten Million and
00/100 Dollars ($10,000,000.00) as such amount may be increased from time to time as provided in Section 2.1(d). 
 2.03
Amendment to Section 2.1 of the Credit Agreement. Effective as of the Effective Date Section 2.1 of the Credit Agreement is hereby amended by deleting clause (d) of such section and replacing it with the following:

 (d) On or after January 31, 2013, Borrower may, no more than twice during the Term of this Agreement,
request to increase the amount of the Facility Cap as in effect on any date of determination; provided, that, in connection with any such request, Borrower shall (x) provide such request in writing, (y) certify to Lender that
no Default or Event of Default has occurred and is continuing or would be caused by such request, and (z) state the requested effective date of such increase in the Facility Cap, which in no event may be more than forty-five (45) or less
than fifteen (15) Business Days after the date of such request. All such requests shall be made in increments of $1,000,000. Upon Lender’s written consent to such request, which consent may be granted or withheld by Lender in Lender’s
sole discretion, and upon payment by Borrower to Lender of a commitment fee equal to 1% of the requested increase in the Facility Cap, Borrower’s requested increase of the Facility Cap will become effective on the date requested. All increases
to the Facility Cap made pursuant to this section shall not exceed $2,000,000 in the aggregate. 
 2.04 Amendment to Annex
I of the Credit Agreement. Effective as of the Effective Date, Annex I of the Credit Agreement is hereby amended by: 
 (a) deleting Section 2 of Annex I in its entirety and replacing it with the following: 
 2. Minimum Cash Velocity 
 For each Test Period, measured as of the last
day of each calendar month ending on or after December 31, 2012, Collections of Accounts of Borrowers collectively shall not be less than the Cash Velocity Percentage of Borrowers’ net revenue for the Revenue Period less the bad
debt expense recognized on the income statement for such Revenue Period. 

  
 2 

 (b) adding the following definition to the definitions set forth in such Annex in the
appropriate alphabetical order: 
 “Cash Velocity Percentage” shall mean (a) 80% for the period beginning
December 31, 2012 and ending on March 31, 2013 and (b) 87.5% at all other times. 
 ARTICLE III- CONDITIONS
PRECEDENT 
 3.01 Conditions to Effectiveness. The effectiveness of this Amendment against Lender is
subject to the satisfaction of the following conditions precedent in a manner satisfactory to Lender in its sole discretion, unless specifically waived in writing by Lender: 
 (a) Lender shall have received this Amendment duly executed by each party thereto; 

(b) the representations and warranties contained herein and in all other Loan Documents shall be true and correct in all material
respects (without duplication of any materiality qualifiers contained in the Loan Documents); 
 (c) no Default or Event of
Default shall be in existence; and 
 (d) Lender shall have received all fees, charges and expenses payable to Lender as
required by this Amendment, including the Commitment Fee (as hereinafter defined), and in connection with this Amendment and the documentation related hereto, including, but not limited to, reasonable legal fees and out-of-pocket costs, (including
reasonable in-house counsel fees and expenses), and Borrower hereby authorize Lender to charge such amounts as an Advance under the Revolving Facility. 
 ARTICLE IV- RATIFICATIONS, REPRESENTATIONS AND WARRANTIES 
 4.01
Ratifications. The terms and provisions set forth in this Amendment shall modify and supersede all inconsistent terms and provisions set forth in the Credit Agreement and the Loan Documents, and, except as expressly modified and
superseded by this Amendment, the terms and provisions of the Credit Agreement and the Loan Documents are ratified and confirmed and shall continue in full force and effect. The Credit Parties hereby ratify and confirm that the Liens granted under
the Credit Agreement secure all obligations and indebtedness now, hereafter or from time to time made by, owing to or arising in favor of Lender pursuant to the Loan Documents (as now, hereafter or from time to time amended). The Credit Parties and
Lender agree that the Credit Agreement and the Loan Documents, as amended hereby, shall continue to be legal, valid, binding and enforceable in accordance with their respective terms. 

  
 3 

 4.02 Representations and Warranties. The Credit Parties hereby, jointly and
severally, represent and warrant to Lender that: 
 (a) The representations and warranties made by the Credit Parties (other
than those made as of a specific date) contained in the Credit Agreement, as amended hereby, and each Loan Document are true and correct in all material respects (except that, for those representations and warranties already qualified by concepts of
materiality, those representations and warranties shall be true and correct in all respects) on and as of the date hereof and as of the date of execution hereof as though made on and as of each such date; 

(b) No Default or Event of Default under the Credit Agreement, as amended hereby, has occurred and is continuing; 

(c) No Borrower has amended its certificate of incorporation or bylaws (or any other equivalent governing agreement or document), as
applicable, since the date of the Credit Agreement; 
 ARTICLE V – COMMITMENT FEE 

5.01 Commitment Fee. Borrower agrees to pay Lender $10,000 as a commitment fee, which fee shall be due and payable on the
date hereof. Borrower hereby authorizes Lender to charge such fee as an Advance on the date hereof and shall be fully earned by Lender when so charged. 
 ARTICLE VI – MISCELLANEOUS PROVISIONS 
 6.01 Survival of
Representations and Warranties. All representations and warranties made in the Credit Agreement, or any Loan Document, including, without limitation, any document furnished in connection with this Amendment, shall survive the execution and
delivery of this Amendment and the Loan Documents, and no investigation by Lender or any closing shall affect the representations and warranties or the right of Lender to rely upon them. 

6.02 Reference to Credit Agreement. Each of the Credit Agreement and the Loan Documents, and any and all Loan Documents,
documents or instruments now or hereafter executed and delivered pursuant to the terms hereof or pursuant to the terms of the Credit Agreement, as amended hereby, are hereby amended so that any reference in the Credit Agreement and such Loan
Documents to the Credit Agreement shall mean a reference to the Credit Agreement, as amended hereby. 
 6.03 Expenses of
Lender. As provided in the Credit Agreement, the Credit Parties agree to pay on demand all costs and expenses incurred by Lender in connection with the preparation, negotiation, and execution of this Amendment and the Loan Documents executed
pursuant hereto and any and all amendments, modifications, and supplements thereto, including, without limitation, the reasonable costs and fees of Lender’s legal counsel, and all costs and expenses incurred by Lender in connection with the
enforcement or preservation of any rights under the Credit Agreement, as amended hereby, or any Loan Documents, including, without, limitation, the reasonable costs and fees of Lender’s legal counsel. 

  
 4 

 6.04 Severability. Any provision of this Amendment held by a court of
competent jurisdiction to be invalid or unenforceable shall not impair or invalidate the remainder of this Amendment and the effect thereof shall be confined to the provision so held to be invalid or unenforceable. 

6.05 Successors and Assigns. This Amendment is binding upon and shall inure to the benefit of Lender and the Credit Parties
and their respective successors and assigns, except that the Credit Parties may not assign or transfer any of their rights or obligations hereunder without the prior written consent of Lender. 

6.06 Counterparts. This Amendment may be executed in one or more counterparts, each of which when so executed shall be
deemed to be an original, but all of which when taken together shall constitute one and the same instrument. Any signature delivered by a party by facsimile or other electronic transmission shall be deemed to be an original signature hereto.

 6.07 Effect of Waiver. No consent or waiver, express or implied, by Lender to or for any breach of or deviation
from any covenant or condition by the Credit Parties shall be deemed a consent to or waiver of any other breach of the same or any other covenant, condition or duty. 
 6.08 Headings. The headings, captions, and arrangements used in this Amendment are for convenience only and shall not affect the interpretation of this Amendment. 

6.09 Applicable Law. THIS AMENDMENT AND ALL LOAN DOCUMENTS EXECUTED PURSUANT HERETO SHALL BE DEEMED TO HAVE BEEN MADE AND
TO BE PERFORMABLE IN AND SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE CHOICE OF LAW SET FORTH IN THE CREDIT AGREEMENT. 
 6.10 Final Agreement. THE CREDIT AGREEMENT AND THE LOAN DOCUMENTS, EACH AS AMENDED HEREBY, REPRESENT THE ENTIRE EXPRESSION OF THE PARTIES WITH RESPECT TO THE SUBJECT MATTER HEREOF ON THE
DATE THIS AMENDMENT IS EXECUTED. THE CREDIT AGREEMENT AND THE LOAN DOCUMENTS, AS AMENDED HEREBY, MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS
BETWEEN THE PARTIES. NO MODIFICATION, RESCISSION, WAIVER, RELEASE OR AGREEMENT OF ANY PROVISION OF THIS AMENDMENT SHALL BE MADE, EXCEPT BY A WRITTEN AGREEMENT SIGNED BY THE CREDIT PARTIES AND LENDER. 

6.11 Release. THE CREDIT PARTIES HEREBY ACKNOWLEDGE THAT THEY HAVE NO DEFENSE, COUNTERCLAIM, OFFSET, CROSS-COMPLAINT, CLAIM
OR DEMAND OF ANY KIND OR NATURE WHATSOEVER THAT CAN BE ASSERTED TO REDUCE OR ELIMINATE ALL OR ANY PART OF ITS LIABILITY TO REPAY THE “OBLIGATIONS” OR TO SEEK AFFIRMATIVE RELIEF OR DAMAGES OF ANY KIND OR NATURE FROM LENDER. THE CREDIT
PARTIES HEREBY VOLUNTARILY AND KNOWINGLY RELEASE AND FOREVER DISCHARGE LENDER AND LENDERS, AND 

  
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ANY OF THEIR RESPECTIVE PREDECESSORS, AGENTS, ATTORNEYS, EMPLOYEES, AFFILIATES, SUCCESSORS AND ASSIGNS, FROM ALL POSSIBLE CLAIMS, DEMANDS, ACTIONS, CAUSES OF ACTION, DAMAGES, COSTS, EXPENSES, AND
LIABILITIES WHATSOEVER, KNOWN OR UNKNOWN, ANTICIPATED OR UNANTICIPATED, SUSPECTED OR UNSUSPECTED, FIXED, CONTINGENT, OR CONDITIONAL, AT LAW OR IN EQUITY, ORIGINATING IN WHOLE OR IN PART ON OR BEFORE THE DATE THIS AMENDMENT IS EXECUTED, WHICH THE
CREDIT PARTIES MAY NOW OR HEREAFTER HAVE AGAINST LENDER, OR ANY OF THEIR RESPECTIVE PREDECESSORS, ATTORNEYS, AGENTS, EMPLOYEES, AFFILIATES, SUCCESSORS AND ASSIGNS, IF ANY, AND IRRESPECTIVE OF WHETHER ANY SUCH CLAIMS ARISE OUT OF CONTRACT, TORT,
VIOLATION OF LAW OR REGULATIONS, OR OTHERWISE, AND ARISING FROM ANY “LOANS”, INCLUDING, WITHOUT LIMITATION, ANY CONTRACTING FOR, CHARGING, TAKING, RESERVING, COLLECTING OR RECEIVING INTEREST IN EXCESS OF THE HIGHEST LAWFUL RATE APPLICABLE,
THE EXERCISE OF ANY RIGHTS AND REMEDIES UNDER THE CREDIT AGREEMENT OR LOAN DOCUMENTS, AND NEGOTIATION FOR AND EXECUTION OF THIS AMENDMENT. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
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 IN WITNESS WHEREOF, this Amendment has been executed and is effective as of the date first
written above. 
  

			
	BORROWER:
	
	NEOGENOMICS LABORATORIES, INC., a Florida corporation
		
	By:	 	 /s/ Douglas VanOort

	Name:	 	 Douglas VanOort

	Title:	 	 Chairman and Chief Executive Officer

	
	GUARANTOR:
	
	NEOGENOMICS, INC., a Nevada corporation
		
	By:	 	 /s/ Douglas VanOort

	Name:	 	 Douglas VanOort

	Title:	 	 Chairman and Chief Executive Officer

	
	LENDER:
	
	CAPITALSOURCE FINANCE LLC, as agent for the lenders
		
	By:	 	 /s/ Jason Schwartz

	Name:	 	 Jason Schartz

	Title:	 	 Authorized Signatory

  
 7EX-10.16

 Exhibit 10.16 

 
 

 
  
  

NOTICE OF GRANT OF PERFORMANCE RESTRICTED STOCK AWARD 
 AND AWARD AGREEMENT 
  

 
  

					
	%%FIRST_NAME%-% %%MIDDLE_NAME%-% %%LAST_NAME%-%	  	Award Number:                    
	%%OPTION_NUMBER%-%	  		  	
	%%ADDRESS_LINE_1%-%	  	                            
Plan:    %%EQUITY_PLAN%-%
	%%ADDRESS_LINE_2%-%	  	                           
 ID:    %%EMPLOYEE_IDENTIFIER%-%
	%%CITY%-%, %%STATE%-%, %%ZIPCODE%-%	  	

  
  

Effective «Grant_Date», you have been granted a Performance Restricted Stock Award of %%TOTAL_SHARES_
GRANTED%-% shares of
Devon Energy Corporation (the “Company”) Common Stock (the “Award”) under the Company’s 2009 Long-Term Incentive Plan, as amended and restated June 6, 2012. None of the shares subject to this Award shall vest, and this
Award shall terminate in its entirety, should the Company fail to attain the Performance Goal specified in attached Schedule A for the Performance Period. Except as otherwise provided in the Award Agreement, if such Performance Goal is attained and
certified, then the Restricted Shares will vest in four (4) separate installments as follows: (a) twenty-five percent (25%) of the Restricted Shares will vest upon the completion of the Performance Period and the Committee’s
certification of the attainment of the Performance Goal, and Vested Stock will be released as soon as practicable following the Committee’s certification of the Company’s attainment of the Performance Goal, and (b) the balance of the
Restricted Shares will vest, and Vested Stock will be released, in a series of three (3) successive equal annual installments on the second, third and fourth anniversaries of the Date of Grant. 

 
  
 By accepting this agreement online, you and the Company agree that this award is granted under and governed by the terms and conditions of the Company’s 2009 Long-Term Incentive Plan, as amended
and restated June 6, 2012, and the Award Agreement, both of which are attached and made a part of this document. 
  

 

 DEVON ENERGY CORPORATION 

2009 LONG-TERM INCENTIVE PLAN 
 PERFORMANCE RESTRICTED STOCK AWARD AGREEMENT 
 THIS PERFORMANCE RESTRICTED
STOCK AWARD AGREEMENT (the “Award Agreement”) is entered into as of %%OPTION_DATE%-% (the “Date of Grant”), by and between Devon Energy Corporation (the “Company”) and %%FIRST_NAME%-% %%MIDDLE_NAME%-%
%%LAST_NAME%-% (the “Participant”); 
 W I T N E S S E T H: 

WHEREAS, the Devon Energy Corporation 2009 Long-Term Incentive Plan, as amended and restated June 6, 2012 (the “Plan”)
permits the grant of Restricted Stock that vests based upon performance standards (referred to herein as a “Performance Restricted Stock”) to employees, officers and non-employee directors of the Company and its Subsidiaries and Affiliated
Entities, in accordance with the terms and provisions of the Plan; and 
 WHEREAS, in connection with the Participant’s
employment with the Company, the Company desires to award to the Participant %%TOTAL_SHARES_GRANTED%-% shares of the Company’s Common Stock under the Plan subject to the terms and conditions of this Award Agreement and the Plan; and

 NOW, THEREFORE, in consideration of the premises and the mutual promises and covenants herein contained, the Participant and
the Company agree as follows: 
 1. The Plan. The Plan, a copy of which is attached hereto, is hereby incorporated by
reference herein and made a part hereof for all purposes, and when taken with this Award Agreement shall govern the rights of the Participant and the Company with respect to the Award. 

2. Grant of Award. The Company hereby grants to the Participant an award (the “Award”) of
%%TOTAL_SHARES_
GRANTED%-% shares of the Company’s Common subject to the restrictions placed thereon pursuant to the terms of this Award Agreement (“Performance Restricted Stock”), on the terms and conditions set forth
herein and in the Plan. 
 3. Terms of Award. 
 (a) Escrow of Shares. A certificate or book-entry registration representing the Performance Restricted Stock shall be issued in the name of the Participant and shall be escrowed with the Secretary
of the Company (the “Escrow Agent”) subject to removal of the restrictions placed thereon or forfeiture pursuant to the terms of this Award Agreement. 
 (b) Vesting. Except as provided in this Section 3, if the Participant’s Date of Termination has not occurred as of the vesting dates specified below (the “Vesting Dates”), then,
the Participant shall be entitled, subject to the applicable provisions of the Plan and this Award Agreement having been satisfied, to receive on or within a reasonable time after the applicable Vesting Dates the number of shares of Common Stock as
described in the following schedule. Once vested pursuant to the terms of this Award Agreement, the Performance Restricted Stock shall be deemed “Vested Stock.” 

 Vesting Schedule 

If the Performance Goal (specified in attached Schedule A) for the Performance Period (specified in attached Schedule A) is attained and
certified, then the Award will vest in four (4) separate installments as follows: 
 (i) twenty-five
percent (25%) (or %%SHARES_Period1%-%) of the Restricted Shares will vest upon the completion of the Performance Period and the Vested Stock will be released within a reasonable time following the Committee’s certification of the
Company’s attainment of the Performance Goal; 
 (ii) 25% (or %%SHARES_Period2%-%) of the
Restricted Shares will vest, and the Vested Stock will be released, on %%Vest_DATE_PERIOD2%-%; 
 (iii)
25% (or %%SHARES_Period3%-%) of the Restricted Shares will vest, and the Vested Stock will be released, on %%Vest_DATE_PERIOD3%-%; and 
 (iv) the remaining 25% (or %%SHARES_Period4%-%) of the Restricted Shares will vest, and the Vested Stock will be released, on %%Vest_DATE_PERIOD4%-%. 

Notwithstanding the foregoing, no fractional shares of Common Stock shall be issued pursuant to this Award, and any fractional share
resulting from any calculation made in accordance with the terms of this Award Agreement shall be aggregated, and any such aggregated shares will vest, and the Vested Stock will be released, at the time provided in (3)(b)(iv) above. 

Except as otherwise provided in Section 3(c) below, none of the shares subject to this Award shall vest should the Company fail to
attain the Performance Goal for the Performance Period. Except to the extent that an Award has previously vested pursuant to Section 3(c) below, this Award shall terminate in its entirety and shall not vest should the Company fail to attain the
Performance Goal for the Performance Period. 
 (c) Change in Control Event or Death or Disability. Notwithstanding any
provision to the contrary in this Award Agreement, a Participant shall become fully and immediately vested in the Award in the event of the Participant’s death or the occurrence of a Change in Control Event, without regard to attainment or
certification of the Performance Goal. In the event of the Participant’s death or the occurrence of a Change in Control Event, the Vested Stock will be released within a reasonable time thereafter. If the Participant’s Date of Termination
occurs by reason of disability, the Committee may, in its sole and absolute discretion, elect to vest all or a portion of the unvested Performance Restricted Stock upon the Participant’s Date of Termination and the Vested Stock will be released
within a reasonable time thereafter. 

 (d) Termination of Employment. The Participant shall forfeit the unvested portion of
the Award (including the underlying Performance Restricted Stock and Accrued Dividends) upon the occurrence of the Participant’s Date of Termination unless the Performance Goal is attained and certified and the Award becomes vested under the
circumstances described below. 
 (i) If the Participant’s Date of Termination occurs under circumstances in which the
Participant is entitled to a severance payment from the Company, a Subsidiary, or an Affiliated Entity under (1) the Participant’s employment agreement or severance agreement with the Company due to a termination of the Participant’s
employment by the Company without “cause” or by the Participant for “good reason” in accordance with the Participant’s employment agreement or severance agreement or (2) the Devon Energy Corporation Severance Plan, and
if the Participant signs and returns to the Company a release of claims against the Company in a form prepared by the Company (the “Release”) and such Release becomes effective, the Performance Restricted Stock shall be treated as vested
as of the Participant’s Date of Termination, provided the Date of Termination occurs after the Performance Goal is attained and certified, and the Performance Restricted Stock shall be released within a reasonable time thereafter. If the
Participant’s Date of Termination occurs before the Performance Goal is attained and certified, the Performance Restricted Stock shall be treated as vested as of the certification of attainment of the Performance Goal, and the Performance
Restricted Stock, if vested, shall be released within a reasonable time thereafter. Notwithstanding the foregoing, if the Performance Goal is not attained and certified, or if Participant fails to sign and return the Release to the Company or
revokes the Release prior to the date the Release becomes effective, then the unvested shares of Performance Restricted Stock subject to this Award Agreement shall not vest pursuant to this Section 3(d)(i) and shall be forfeited. 

(ii) If a Participant’s Date of Termination occurs by reason of Normal Retirement Date, Early Retirement Date, or other special
circumstances (as determined by the Committee), and the Committee determines, in its sole and absolute discretion, that the Performance Restricted Stock shall continue to vest following the Participant’s Date of Termination, the Performance
Restricted Stock shall continue to vest after the Participant’s Date of Termination in accordance with the Vesting Schedule in Section 3(b) above and the Performance Restricted Stock shall be released within a reasonable time after the
applicable Vesting Date; provided that, if the Participant is Retirement Eligible, the Participant shall, subject to the satisfaction of the conditions in Section 16, be eligible to vest in accordance with the Vesting Schedule above in
Section 3(b), in the installments of Performance Restricted Stock that remain unvested on the Date of Termination as follows: 
  

						
	 Age at Retirement
	  	Percentage of each Unvested Installment of
Performance Restricted Stock Eligible
to
be Earned by the Participant
	 54 and earlier
	  	 	 	0	%
	 55
	  	 	 	60	%
	 56
	  	 	 	65	%
	 57
	  	 	 	70	%
	 58
	  	 	 	75	%
	 59
	  	 	 	80	%
	 60 and beyond
	  	 	 	100	%

 (e) Voting Rights and Dividends. The Participant shall not have voting rights
attributable to the shares of Performance Restricted Stock prior to the completion of the Performance Period and the Committee’s certification of the Company’s attainment of the Performance Goal. Any dividends declared and paid by the
Company with respect to shares of Performance Restricted Stock prior to the Committee’s certification of the attainment of the Performance Goal (the “Accrued Dividends”) shall not be paid to the Participant until and unless the
Committee certifies the attainment of the Performance Goal. Any such Accrued Dividends shall be forfeited if the Award is terminated because the Performance Goal is not attained. If the Performance Goal is attained and certified, the Accrued
Dividends shall be paid to the Participant within a reasonable time thereafter and any dividends or other distributions (in cash or other property, but excluding extraordinary dividends) that are declared and/or paid with respect to the shares of
Performance Restricted Stock shall be paid to the Participant on a current basis. Any extraordinary dividends (i.e., special or nonrecurring dividends in excess of the regular dividends paid by the Company), in cash or property, on
Performance Restricted Stock shall not be paid until and unless the Performance Restricted Stock becomes Vested Stock. 
 (f)
Certification of Performance Goal. Except in the event of the occurrence of a Change in Control Event, the Committee shall, as soon as practicable following the last day of the Performance Period, determine and certify, based on the
Company’s financial statements for the fiscal year coincident with the Performance Period, whether the Performance Goal for the Performance Period has been attained. Such certification shall be final, conclusive and binding on the Participant,
and on all other persons, to the maximum extent permitted by law. 
 (g) Vested Stock—Removal of Restrictions. Upon
Performance Restricted Stock becoming Vested Stock, all restrictions shall be removed from the certificates or book-entry registrations and the Secretary of the Company shall deliver to the Participant certificates or a Direct Registration Statement
for the book-entry registration representing such Vested Stock free and clear of all restrictions, except for any applicable securities laws restrictions, together with a check in the amount of all Accrued Dividends attributed to such Vested Stock
without interest thereon. 
 4. Legends. The shares of Performance Restricted Stock which are the subject of this Award
Agreement shall be subject to the following legend: 
 “THE SHARES OF STOCK EVIDENCED BY THIS CERTIFICATE OR BOOK-ENTRY
REGISTRATION ARE SUBJECT TO AND ARE TRANSFERABLE ONLY IN ACCORDANCE WITH THAT CERTAIN AWARD AGREEMENT DATED
 %%OPTION_DATE%-% FOR THE DEVON ENERGY CORPORATION 2009 LONG-TERM INCENTIVE PLAN, AS AMENDED AND RESTATED JUNE 6, 2012. ANY
ATTEMPTED TRANSFER OF THE SHARES OF STOCK EVIDENCED BY THIS CERTIFICATE OR BOOK-ENTRY REGISTRATION IN VIOLATION OF SUCH AWARD AGREEMENT SHALL BE NULL AND VOID AND WITHOUT EFFECT. A COPY OF THE AWARD AGREEMENT MAY BE OBTAINED FROM THE SECRETARY OF
DEVON ENERGY CORPORATION.” 
 5. Delivery of Forfeited Shares. The Participant authorizes the Secretary to deliver
to the Company any and all shares of Performance Restricted Stock that are forfeited under the provisions of this Award Agreement. The Participant further authorizes the Company to hold as a general obligation of the Company any Accrued Dividends
and to pay the Accrued Dividends to the Participant at the time the underlying Performance Restricted Stock becomes Vested Stock. 

 6. Certain Corporate Changes. If any change is made to the Common Stock (whether by
reason of merger, consolidation, reorganization, recapitalization, stock dividend, stock split, combination of shares, or exchange of shares or any other change in capital structure made without receipt of consideration), then unless such event or
change results in the termination of all the Performance Restricted Stock granted under this Award Agreement, the Committee shall adjust, in an equitable manner and as provided in the Plan, the number and class of shares underlying the Performance
Restricted Stock, the maximum number of shares for which the Award may vest, and the share price or class of Common Stock as appropriate, to reflect the effect of such event or change in the Company’s capital structure in such a way as to
preserve the value of the Award. 
 7. Employment. Nothing in the Plan or in this Award Agreement shall confer upon the
Participant any right to continue in the employ of the Company or any of its Subsidiaries or Affiliated Entities, or interfere in any way with the right to terminate the Participant’s employment at any time. 

8. Nontransferability of Award. The Participant shall not have the right to sell, assign, transfer, convey, dispose, pledge,
hypothecate, burden, encumber or charge any Performance Restricted Stock or any interest therein in any manner whatsoever. 
 9.
Notices. All notices or other communications relating to the Plan and this Award Agreement as it relates to the Participant shall be in writing and shall be delivered electronically, personally or mailed (U.S. mail) by the Company to the
Participant at the then current address as maintained by the Company or such other address as the Participant may advise the Company in writing. 
 10. Binding Effect and Governing Law. This Award Agreement shall be (i) binding upon and inure to the benefit of the parties hereto and their respective heirs, successors and assigns except as
may be limited by the Plan, and (ii) governed and construed under the laws of the State of Delaware. 
 11. Company
Policies. The Participant agrees that the Award will be subject to any applicable clawback or recoupment policies, share trading policies and other policies that may be implemented by the Company’s Board of Directors or a duly authorized
committee thereof, from time to time. 
 12. Withholding. The Company and the Participant shall comply with all federal
and state laws and regulations respecting the required withholding, deposit and payment of any income, employment or other taxes relating to the Award (including Accrued Dividends). The Company shall withhold the employer’s minimum statutory
withholding based upon minimum statutory withholding rates for federal and state purposes, including payroll taxes that are applicable to such supplemental taxable income. Any payment of required withholding taxes by the Participant in the form of
Common Stock shall not be permitted if it would result in an accounting charge with respect to such shares used to pay such taxes unless otherwise approved by the Committee. 

 13. Award Subject to Claims of Creditors. The Participant shall not have any interest
in any particular assets of the Company, its parent, if applicable, or any Subsidiary or Affiliated Entity by reason of the right to earn an Award (including Accrued Dividends) under the Plan and this Award Agreement, and the Participant or any
other person shall have only the rights of a general unsecured creditor of the Company, its parent, if applicable, or a Subsidiary or Affiliated Entity with respect to any rights under the Plan or this Award Agreement. 

14. Captions. The captions of specific provisions of this Award Agreement are for convenience and reference only, and in no way
define, describe, extend or limit the scope of this Award Agreement or the intent of any provision hereof. 
 15.
Counterparts. This Award Agreement may be executed in any number of identical counterparts, each of which shall be deemed an original for all purposes, but all of which taken together shall form one agreement. 

16. Conditions to Post-Retirement Vesting. 
 (a) Notice of and Conditions to Post-Retirement Vesting. If the Participant is Retirement Eligible, the Company shall, within a reasonable period of time prior to the Participant’s Date of
Termination, notify the Participant that the Participant has the right, pursuant to this Section 16(a), to continue to vest following the Date of Termination in any unvested installments of Performance Restricted Stock (each such unvested
installment, an “Installment”). The Participant shall have the right to vest in such Installments of Performance Restricted Stock, provided that the Participant executes and delivers to the Company, with respect to each such Installment,
the following documentation: (i) a non-disclosure letter agreement, in the form attached as Exhibit A, (a “Non-Disclosure Agreement”) on or before January 1 of the year in which such Installment vests pursuant to the Vesting
Schedule (or, with respect to the calendar year in which the Date of Termination occurs, on or before the Date of Termination), and (ii) a compliance certificate, in the form attached as Exhibit B, (a “Compliance Certificate”)
indicating the Participant’s full compliance with the Non-Disclosure Agreement on or before November 1 of the year in which such Installment vests pursuant to the Vesting Schedule. 

(b) Consequences of Failure to Satisfy Vesting Conditions. In the event that, with respect to any given Installment, the
Participant fails to deliver either the respective Non-Disclosure Agreement or Compliance Certificate for such Installment on or before the date required for the delivery of such document (such failure, a “Non-Compliance Event”), the
Participant shall not be entitled to vest in any unvested Installments that would vest from and after the date of the Non-Compliance Event and the Company shall be authorized to take any and all such actions as are necessary to cause such unvested
Performance Restricted Stock to not vest and to terminate. The only remedy of the Company for failure to deliver a Non-Disclosure Agreement or a Compliance Certificate shall be the failure to vest in, and cancellation of, any unvested Installments
then held by the Participant. 
 17. Definitions. Words, terms or phrases used in this Award Agreement shall have the
meaning set forth in this Section 17. Capitalized terms used in this Award Agreement but not defined herein shall have the meaning designated in the Plan. 
 (a) “Accrued Dividends” has the meaning set forth in Section 3(e). 
 (b) “Award” has the meaning set forth in Section 2. 

 (c) “Award Agreement” has the meaning set forth in the preamble.

 (d) “Company” has the meaning set forth on the Cover Page. 

(e) “Compliance Certificate” has the meaning set forth in Section 16(a). 

(f) “Date of Grant” has the meaning set forth in the preamble. 

(g) “Date of Termination” means the first day occurring on or after the Date of Grant on which the Participant is not
employed by the Company, a Subsidiary, or an Affiliated Entity regardless of the reason for the termination of employment; provided, however, that a termination of employment shall not be deemed to occur by reason of a transfer of the Participant
between the Company, a Subsidiary, and an Affiliated Entity or between two Subsidiaries or two Affiliated Entities. The Participant’s employment shall not be considered terminated while the Participant is on a leave of absence from the Company,
a Subsidiary, or an Affiliated Entity approved by the Participant’s employer pursuant to Company policies. If, as a result of a sale or other transaction, the Participant’s employer ceases to be either a Subsidiary or an Affiliated Entity,
and the Participant is not, at the end of the 30-day period following the transaction, employed by the Company or an entity that is then a Subsidiary or Affiliated Entity, then the date of occurrence of such transaction shall be treated as the
Participant’s Date of Termination. 
 (h) “Early Retirement Date” means, with respect to the Participant,
the first day of a month that occurs on or after the date the Participant (i) attains age 55 and (ii) earns at least 10 Years of Service. 
 (i) “Escrow Agent” has the meaning set forth in Section 3(a). 
 (j) “Installment” has the meaning set forth in Section 16(a). 
 (k) “Non-Compliance Event” has the meaning set forth in Section 16(b). 
 (l) “Non-Disclosure Agreement” has the meaning set forth in Section 16(a). 
 (m) “Normal Retirement Date” means, with respect to the Participant, the first day of a month that occurs on or after the date the Participant attains age 65. 

(n) “Participant” has the meaning set forth in the preamble. 

(o) “Plan” has the meaning set forth in the preamble. 

(p) “Performance Restricted Stock” has the meaning set forth in the preamble and Section 2. 

(q) “Retirement Eligible” means the Participant’s Date of Termination occurs (i) by reason of the
Participant’s retirement and (ii) on or after the Participant’s Early Retirement Date. 

 (r) “Vested Stock” has the meaning set forth in Section 3(b).

 (s) “Vesting Date” has the meaning set forth in Section 3(b). 

(t) “Year of Service” means a calendar year in which the Participant is employed with the Company, a Subsidiary or
Affiliated Entity for at least nine months of a calendar year. When calculating Years of Service hereunder, Participant’s first hire date with the Company, a Subsidiary or Affiliated Entity shall be used. 

 

			
	“COMPANY”	  	DEVON ENERGY CORPORATION
		  	a Delaware corporation
		
	“PARTICIPANT”	  	%%FIRST_NAME%-% %%MIDDLE_NAME%-%
		  	%%LAST_NAME%-%
		  	%%ADDRESS_LINE1%-%
		  	%%ADDRESS_LINE2%-%
		  	%%CITY%-%, %%STATE%-%, %%ZIPECODE%-%
		  	ID «ID»

  
 

 
 SCHEDULE A 
 PERFORMANCE PERIOD AND PERFORMANCE GOAL 
 1. Performance
Period. The measurement period for the Performance Goal shall be the period beginning January 1, 2013 and ending December 31, 2013 (the “Performance Period”). 

2. Performance Goal. The Performance Goal is based on the Company’s cash flow before balance sheet changes. Vesting will be
based on the Company’s achievement of $3.5 billion in cash flow before balance sheet changes during the Performance Period and the Committee’s certification of the attainment of the Performance Goal. 

3. Certification of Performance Goal. Except in the event of the occurrence of a Change in Control Event, the Committee shall, as
soon as practicable following the last day of the Performance Period, determine and certify, based on the Company’s financial statements for the fiscal year coincident with the Performance Period, whether the Performance Goal for the
Performance Period has been attained. Such certification shall be final, conclusive and binding on the Participant, and on all other persons, to the maximum extent permitted by law. 

4. Maximum Award. The maximum number of shares of Performance Restricted Stock that may become earned and vested pursuant to this
Award is %%TOTAL_SHARES_GRANTED%-%. 

 EXHIBIT A 
 Form of Non-Disclosure Agreement 
 [Insert Date] 

Devon Energy Corporation 
 333 West Sheridan
Avenue 
 Oklahoma City, OK 73102-5010 
  

	 	Re:	Non-Disclosure Agreement 

 Ladies and Gentlemen:

 This letter agreement is entered between Devon Energy Corporation (together with its subsidiaries and affiliates, the
“Company”) and the undersigned (the “Participant”) in connection with that certain Performance Restricted Stock Award Agreement (the “Agreement”) dated
                    , 20     between the Company and the Participant. All capitalized terms used in this letter agreement shall
have the same meaning ascribed to them in the Agreement unless specifically denoted otherwise. 
 The Participant acknowledges
that, during the course of and in connection with the employment relationship between the Participant and the Company, the Company provided and the Participant accepted access to the Company’s trade secrets and confidential and proprietary
information, which included, without limitation, information pertaining to the Company’s finances, oil and gas properties and prospects, compensation structures, business and litigation strategies and future business plans and other information
or material that is of special and unique value to the Company and that the Company maintains as confidential and does not disclose to the general public, whether through its annual report and/or filings with the Securities and Exchange Commission
or otherwise (the “Confidential Information”). 
 The Participant acknowledges that his position with the Company was
one of trust and confidence because of the access to the Confidential Information, requiring the Participant’s best efforts and utmost diligence to protect and maintain the confidentiality of the Confidential Information. Unless required by the
Company or with the Company’s express written consent, the Participant will not, during the term of this letter agreement, directly or indirectly, disclose to others or use for his own benefit or the benefit of another any of the Confidential
Information, whether or not the Confidential Information is acquired, learned, attained or developed by the Participant alone or in conjunction with others. 
 The Participant agrees that, due to his access to the Confidential Information, the Participant would inevitably use and/or disclose that Confidential Information in breach of his confidentiality and
non-disclosure obligations if the Participant worked in certain capacities or engaged in certain activities for a period of time following his employment with the Company, specifically in a position that involves (i) responsibility and
decision-making authority or input at the executive level regarding any subject or responsibility, (ii) decision-making responsibility or input at any management level in the Participant’s individual area of assignment with the Company, or
(iii) responsibility and decision-making authority or input that otherwise allows the use of the Confidential Information (collectively referred to as the “Restricted Occupation”). Therefore, except with the prior written consent of
the Company, 

 
during the term of this letter agreement, the Participant agrees not to be employed by, consult for or otherwise act on behalf of any person or entity in any capacity in which he would be
involved, directly or indirectly, in a Restricted Occupation. The Participant acknowledges that this commitment is intended to protect the Confidential Information and is not intended to be applied or interpreted as a covenant against competition.

 The Participant further agrees that during the term of this letter agreement, the Participant will not, directly or
indirectly on behalf of a person or entity or otherwise, (i) solicit any of the established customers of the Company or attempt to induce any of the established customers of the Company to cease doing business with the Company, or
(ii) solicit any of the employees of the Company to cease employment with the Company. 
 This letter agreement shall
become effective upon execution by the Participant and the Company and shall terminate on December 31, 20    . [Note: Insert date that is the end of the calendar year of the letter agreement.] 

If you agree to the above terms and conditions, please execute a copy of this letter agreement below and return a copy to me. 

 

	
	“PARTICIPANT”
	
	 
	[Name of Participant]

 THE UNDERSIGNED HEREBY ACCEPTS AND AGREES TO THE TERMS SET FORTH ABOVE AS OF THIS
             DAY OF                     ,     .

  

			
	“COMPANY”
	
	DEVON ENERGY CORPORATION

 
			
		
	By:	 	 

 
			
	Name:	 	 

 
			
	Title:	 	 

  

 EXHIBIT B 
 Form of Compliance Certificate 
 I hereby certify that I am in full compliance
with the covenants contained in that certain letter agreement (the “Agreement”) dated as of                     ,
         between Devon Energy Corporation and me and have been in full compliance with such covenants at all times during the period ending October 31,         .

  

	
	[Name of Participant]

 Dated:

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