Document:

Restricted Stock Award Agreement

 Exhibit 10.1 
 UNIT CORPORATION 
 RESTRICTED STOCK AWARD AGREEMENT 

PERSONAL AND CONFIDENTIAL 

[DATE] 
  

					
	 Participant name
	  	 	[                          
  	] 
		
	 Date of grant
	  	 	[                          
  	] 
		
	 Number of shares of restricted stock subject to this award
	  	 	[                          
  	] 

 We are pleased to inform you that as an employee of Unit Corporation (“Unit”) or one of its Affiliates,
you have been granted an award of shares of restricted stock under the Unit Corporation Stock and Incentive Compensation Plan (the “Plan”). This agreement memorializes the terms of that award. This award is subject to the terms and
conditions that follow in this agreement. 
 The date of the award evidenced by this agreement (the “date of grant”) is set
forth above. 
 Capitalized terms used but not defined in this agreement have the meaning given to them in the Plan. 

1. Acceptance of award. This award can be accepted by signing your name in the space provided on the enclosed copy of this agreement and returning
it to the Secretary of Unit, 7130 South Lewis Avenue, Suite 1000, Tulsa, Oklahoma 74136. Your signing and delivering a copy of this agreement will evidence your acceptance on the terms and conditions stated in this agreement. 

2. Award. Unit hereby grants to you a restricted stock award consisting of
[                    ] shares of restricted stock (the “Total Restricted Stock Award”), subject to the terms and
conditions of this agreement. 
 3. Vesting and delivery of shares. Unless previously forfeited, Unit will deliver to you, or your
designated beneficiary, or if none, to your devisees in the event of death, shares of Unit common stock (in lieu of the shares of restricted stock) as follows: 
  

	 	A.	Time Vested Shares. Seventy percent of the Total Restricted Stock Award will constitute (the “Time Vested Shares”) and will vest in the amounts
and on the dates set forth in the following schedule: 

  

			
	 (i)
	  	[         
   ]% of the Time Vested Shares will vest on [DATE];
	
(ii)
	  	an additional
[            ]% of the Time Vested Shares will vest on [DATE]; and
	
(iii)
	  	the remaining
[            ]% of the Time Vested Shares will vest on [DATE].

 Each share of Time Vested Shares represents the right to receive one share of Unit common
stock. 
  

	 	B.	Performance Shares. The remaining [    ]% of the Total Restricted Stock Award (the “Performance Shares”), will vest
based on Unit’s Total Stockholder Return compared to the Total Stockholder Return of the Peer Group during the Performance Period. 

  

	 	(a)	The calculation of the exact number of shares to be issued to you based on the Performance Shares will be determined as follows: 

  
 Page 1 of 8

	 	    	Performance criteria for purposes of this award will be based on the “Total Shareholder Return” for Unit and each company in the Peer Group (which will
include dividends paid) and will be determined as follows: 

  

							
	“Total Stockholder 
Return”	 	 	=	  	 	 Change in Stock Price+Dividends Paid
 Beginning Stock
Price

  

					
	 •     Beginning Stock Price
	 	=	    	means the average closing sale price as reported on the New York Stock Exchange (or any other applicable trading market index) of one (1) share of common stock for the 15 day
period ending on [DATE]. The Beginning Stock Price will be appropriately adjusted to reflect any stock splits, reverse stock splits or stock dividends during the Performance Period.
			
	 •     Change in Stock Price
	 	=	    	means the difference between the Ending Stock Price and the Beginning Stock Price.
			
	 •     Dividends Paid
	 	=	    	means the total of all cash and in-kind dividends paid on one (1) share of common stock during the Performance Period, if any.
			
	 •     Ending Stock Price
	 	=	    	means the average closing sale price of one (1) share of common stock for the 15 trading days immediately ending on [DATE] as reported on the New York Stock Exchange (or any
other applicable trading market index).
			
	 •     Performance Period
	 	=	    	means the period starting [DATE] and ending [DATE].
			
	 •     Peer Group
	 	=	    	means:

  

					
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		 	Note: If any member of the Peer Group ceases to have publicly traded common stock, the Committee may select a replacement company which will then be included in the
above definition of Peer Group as of January 1, 2011 instead of the replaced member.

  

	 	(b)	Not later than ninety (90) days after the conclusion of the Performance Period, the Committee will determine and certify the extent to which the performance
criteria have been achieved. The Performance Shares will vest on the date of the Committee’s certification, and the value of the shares will be based on the closing price of Unit’s stock on the NYSE on that date. 

 

	 	    	After the Total Stockholder Return Formula is applied to Unit and each of the companies in the Peer Group, Unit’s rank within the Peer Group will be determined and
a “Performance Percentile Rank” will be assigned to Unit to reflect its performance relative to the Peer Group. 

  

	 	    	Finally, the number of shares of common stock to be distributed to you as Performance Shares will then be calculated by multiplying the maximum number of shares
designated as Performance Shares (30% of the Total Restricted Stock Award) by the percentage multiplier corresponding to Unit’s relative Performance Percentile Rank, as set forth in the following chart: 

 

			
	Unit’s Performance Percentile Rank	 	Percentage Multiplier
	(Unit TSR vs. peer TSR)	 	(% shares that will be received)
	___	 	___
	___	 	 ___

	___	 	 ___ 

	___	 	 ___ 

	___	 	 ___ 

	___	 	 ___ 

  

	 	    	Interpolation will be used in the vesting calculation for percentile ranks that fall in between those stated above. 

Page 2 of 8 

  

	 	(c)	The Committee may adjust application of the Total Stockholder Return Formula as the performance criteria for the Performance Shares as required to recognize special or
non-recurring situations or circumstances with respect to Unit or any company in the Peer Group for any year during the Performance Period arising from the acquisition or disposition of assets, costs associated with exit or disposal activities, or
material impairments that are reported on a Form 8-K filed with the Securities and Exchange Commission. 

  

	 	C.	Any distribution of shares to you under this award is subject to and conditioned on the requirement that you be actively employed with Unit or one of its Affiliates on
the date the shares vest in accordance with this Agreement. 

 4. Issuance of restricted stock. 

 

	 	A.	Unless you are advised otherwise by Unit, your unvested shares of restricted stock will be held in book entry form. You agree that Unit may give stop transfer
instructions to the depository to ensure compliance with the provisions of this agreement. You hereby (i) acknowledge that your unvested shares of restricted stock will be held in book entry form on the books of Unit’s depository (or
another institution specified by Unit), and irrevocably authorize Unit to take whatever action may be necessary or appropriate to effectuate a transfer of the record ownership of any such shares that are unvested and forfeited, (ii) agree to
deliver to Unit, as a precondition to the issuance of any certificate or certificates with respect to unvested shares of restricted stock, one or more stock powers, endorsed in blank, with respect to those shares, and (iii) agree to take any
other action as Unit may reasonably request to accomplish the transfer or forfeiture of any unvested shares of restricted stock that are forfeited under this agreement. 

 

	 	B.	In the event the Secretary of Unit advises you that your unvested shares of restricted stock will be represented by a certificate, then, subject to the provisions of
this agreement, Unit will issue and register on its books and records in your name a certificate (or certificates) in the amount of the shares of restricted stock subject to this award as set forth above. Each certificate will bear a legend,
substantially in the following form: 

  

	 	    	“The sale or other transfer of the Shares of stock represented by this certificate, whether voluntary, involuntary, or by operation of law, is subject to certain
restrictions on transfer as set forth in the Unit Corporation Stock and Incentive Compensation Plan, and in the associated Award Agreement. A copy of this Plan and such Award Agreement may be obtained from Unit Corporation.”

 The certificate(s) will be retained by Unit (or its designee) until the time that all restrictions or conditions applicable to
the shares have been satisfied or lapsed. 
 5. Restrictions. In addition to the other terms contained in this agreement or the Plan, the
shares of restricted stock subject to this Agreement will be subject to the following restrictions: 
  

	 	A.	Neither (i) the shares of restricted stock, (ii) the right to vote the shares of restricted stock, (iii) the right to receive dividends on the shares of
restricted stock, or (iv) any other rights under this agreement may be sold, transferred, donated, exchanged, pledged, assigned, or otherwise alienated or encumbered until (and then only to the extent of) the shares of restricted stock are
delivered to you. 

  

	 	B.	You will have, with respect to the shares of restricted stock, all of the rights of a holder of shares, including the right to vote the shares and to receive any cash
dividends thereon. The Committee, however, may determine that cash dividends will be automatically reinvested in additional shares which will become shares of restricted stock and will be subject to the same restrictions and other terms of this
award. Unless otherwise determined by the Committee, dividends payable in shares will be treated as additional shares of restricted stock subject to the same restrictions and other terms of this award and you will deliver a stock power, duly
endorsed in blank, relating to the additional shares of restricted stock on payment of any the dividend. 

  
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	 	C.	During your lifetime the shares delivered under this agreement will only be delivered to you. Any shares of restricted stock transferred in accordance with this
agreement will continue to be subject to the terms and conditions of this agreement, including, without limitation, the provisions of this Section 5. Any transfer permitted under this agreement will be promptly reported in writing to
Unit’s Secretary. 

 6. Affect of death or disability. Despite what is provided for in Section 5, if your
employment with Unit or one of its Affiliates terminates before you have vested in all or any shares of restricted stock by reason of your death or disability (as determined by the Committee in its sole discretion), the vesting requirements will be
accelerated and all shares of restricted stock that have not vested will vest 100% as of the date of such death or disability. 
 7. Affect
of other causes of termination of employment. 
  

	 	A.	On termination of your employment with Unit or any of its Affiliates for any reason (except (i) in the event of death or disability under Section 6,
(ii) as a result of a Change of Control subject to Section 10, or (iii) unless the Committee determines otherwise in the case of your retirement), you will forfeit all shares of restricted stock (or all shares of common stock) that
have not been previously delivered to you. 

  

	 	B.	For the purposes of this agreement, your employment by an Affiliate of Unit will be considered terminated on the date that the company by which you are employed is no
longer an Affiliate of Unit. 

 8. Transfer of employment; leave of absence. A transfer of your employment from Unit to an
Affiliate or vice versa, or from one Affiliate to another, without an intervening period, will not be deemed a termination of employment. If you are granted an authorized leave of absence, you will be deemed to have remained in the employ of the
company by which you are employed during such leave of absence. 
 9. Adjustments in shares of restricted stock. 

 

	 	A.	The existence of this agreement and the shares of restricted stock will not affect or restrict in any way the right or power of the board of directors or the
stockholders of Unit (or any of its Affiliates) to make or authorize any reorganization or other change in its capital or business structure, any merger or consolidation, any issue of bonds, debentures, preferred or prior preference stock ahead of
or affecting the shares or the shares of restricted stock, the dissolution or liquidation of the company or any sale or transfer of all or any part of its (or their) assets or business. 

 

	 	B.	In the event of any corporate event or transaction that is subject to the provisions of Section 4.2 of the Plan, the Committee may make adjustments or amendments
to the terms of this award as it deems appropriate under the circumstances, in its sole discretion. Any adjustments or amendments may include, but are not limited to, (i) changes in the number and kind of shares of restricted stock set forth
above, (ii) changes in the grant price per share, and (iii) accelerating the delivery of the shares of restricted stock. The determination by the Committee as to the terms of any amendments or adjustments will be conclusive and binding.

 10. Change of Control. Article 14 of the Plan will apply to the terms of this award in the event a Change of Control
occurs, except that for purposes of this agreement, Section 14.2 will be deemed to be amended by deleting the following language from the first sentence: “if the Committee reasonably determines in good faith before the occurrence of a
Change of Control” and replacing it with this language: “if a majority of the Committee members in place prior to the Change of Control reasonably determines in good faith, either before or after the Change of Control”. If you are an
employee of an Affiliate of the Company the following will generally constitute a Change of Control: the stockholders or members, as the case may be, of the Affiliate approve a reorganization, merger or consolidation or sale or other disposition of
all or substantially all of the assets of that Affiliate (an “Affiliate Transaction”); excluding, however, an Affiliate Transaction under which (i) all or substantially all of the individuals or entities who are the owners of
the Affiliate immediately before the Affiliate Transaction will beneficially own, directly or indirectly, more than 70% of the outstanding securities of 

  
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the entity resulting from the Affiliate Transaction, (ii) no Person (other than: the Company; the entity resulting from the Affiliate Transaction; and any Person which beneficially owned,
immediately before the Affiliate Transaction, directly or indirectly, 25% or more of the outstanding securities of the Affiliate) will beneficially own, directly or indirectly, 25% or more of the outstanding equity of the entity resulting from the
Affiliate Transaction and (iii) individuals who were members of the incumbent board of directors (or managers, as the case may be) of the Affiliate will constitute a majority of the members of the board of directors (or managers, as the case
may be) of the entity resulting from the Affiliate Transaction. 
 11. Tax matters. 

 

	 	A.	Federal income and employment tax withholding (and state and local income tax withholding, if applicable) may be required in respect of taxes on income realized when
restrictions are removed from the shares of restricted stock. You are required to deliver to Unit the amounts that it determines should be withheld, provided, however, that you may pay a portion or all of the withholding taxes by electing to
have (i) Unit withhold a portion of the shares that would otherwise be delivered to you or (ii) you can deliver to Unit shares that you have owned for at least six months, in either case, having a Fair Market Value (as of the date that the
amount of taxes is to be withheld) in the amount to be withheld, and provided further that your election will be irrevocable. Unless otherwise required under applicable law, for purposes of this Section 11, Fair Market Value means the closing
price of the shares on the NYSE on the date the restrictions are removed. 

  

	 	B.	You acknowledge that you have reviewed with your own tax advisor(s) the federal, state, and local tax consequences of accepting the shares of restricted stock and the
other transactions contemplated by this agreement. You are relying solely on such advisor(s) and not on any statements or representations of the Company or any of its agents. You understand and agree that you, and not the Company, will be
responsible for your own tax liability that may arise as a result of the transactions contemplated by this agreement. You understand that Section 83 of the Code taxes as ordinary income the difference between the purchase price, if any, for the
shares of restricted stock and the Fair Market Value of the shares of restricted stock as of the date any restrictions on the shares of restricted stock terminate or lapse. In this context, “restrictions” includes the restrictions pursuant
to Section 3 of this agreement. You understand that you may elect to be taxed at the time the shares of restricted stock are granted, rather than when and as the restrictions terminate or lapse (if ever), by filing an election under
Section 83(b) of the Code with the Internal Revenue Service within thirty (30) days from the grant date. YOU ACKNOWLEDGE THAT IT IS YOUR SOLE RESPONSIBILITY (AND NOT THE COMPANY’S) TO FILE TIMELY THE ELECTION UNDER SECTION 83(B), EVEN
IF YOU REQUEST THE COMPANY OR ITS REPRESENTATIVES TO MAKE THAT FILING ON YOUR BEHALF. 

 12. Employment. Nothing contained
in this agreement or the Plan will confer on you any right to continue in the employ or other service of Unit or any of its Affiliates or limit in any way the right of your employer to change your compensation or other benefits or to terminate your
employment or other service with or without Cause. 
 13. Short-swing trading. An executive officer of Unit who receives an award of
restricted stock must report the transaction on a Form 4 Statement of Changes in Beneficial Ownership filed within two trading days with the EDGAR database of the Securities and Exchange Commission. While the General Counsel of Unit will draft the
Form 4 on your request, the filing is your personal responsibility. Further, executive officers should review Unit Corporation’s Statement of Company Trading Policy before making arrangements for the sale of shares. 

14. Forfeiture of award. If at any time during your employment by Unit or one of its Affiliates the Committee determines that you have engaged in
any activity in competition with any activity of Unit or its Affiliates, or activity or conduct that is inimical, contrary or harmful to the interests of Unit or its Affiliates, including but not limited to: 

 

	 	A.	conduct relating to your employment for which either criminal or civil penalties against you may be sought; 

  
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	 	B.	conduct or activity that results in the termination of your employment because of your: (i) failure to abide by your employer’s rules and regulations
governing the transaction of its business, including without limitation, its Code of Business Ethics and Conduct; (ii) inattention to duties, or the commission of acts while employed with your employer amounting to negligence or misconduct;
(iii) misappropriation of funds or property of Unit or any of its Affiliates or committing any fraud against Unit or any of its Affiliates or against any other person or entity in the course of employment with Unit or any of its Affiliates;
(iv) misappropriation of any corporate opportunity, or otherwise obtaining personal profit from any transaction which is adverse to the interests of Unit or any of its Affiliates or to the benefits of which Unit or any of its Affiliates is
entitled; or (v) the commission of a felony or other crime involving moral turpitude; 

  

	 	C.	accepting employment with, acquiring a 5% or more equity or participation interest in, serving as a consultant, advisor, director or agent of, directly or indirectly
soliciting or recruiting any employee of Unit or any of its Affiliates who was employed at any time during your tenure with Unit of an of its Affiliates, or otherwise assisting in any other capacity or manner any company or enterprise that is
directly or indirectly in competition with or acting against the interests of Unit or any of its Affiliates (a “competitor”), except for (i) any isolated, sporadic accommodation or assistance provided to a competitor, at its
request, by you during your tenure with Unit or any of its Affiliates, but only if provided in the good faith and reasonable belief that such action would benefit Unit or any of its Affiliates by promoting good business relations with the competitor
and would not harm Unit or any of its Affiliates interests in any substantial manner or (ii) any other service or assistance that is provided at the request or with the written permission of Unit or any of its Affiliates;

  

	 	D.	disclosing or misusing any confidential information or material concerning Unit or any of its Affiliates; or 

 

	 	E.	making any statement or disclosing any information to any customers, suppliers, lessors, lessees, licensors, licensees, regulators, employees or others with whom Unit
or any of its Affiliates engages in business that is defamatory or derogatory with respect to the business, operations, technology, management, or other employees of Unit or any of its Affiliates, or taking any other action that could reasonably be
expected to injure Unit or any of its Affiliates in its business relationships with any of the foregoing parties or result in any other detrimental effect on Unit or any of its Affiliates; 

then this award of shares of restricted stock will automatically terminate and be forfeited effective on the date on which you breached this
Section 14 as determined by the Committee and (i) all shares acquired by you under this agreement (or other securities into which those shares have been converted or exchanged) will be returned to Unit or, if no longer held by you, you
will pay to Unit, without interest, all cash, securities or other assets received by you on the sale or transfer of such stock or securities, and (ii) all unvested shares of restricted stock will be forfeited. 

 

	 	F.	If you owe any amount under the above subsections of this Section 14, you acknowledge that your employer may, to the fullest extent permitted by applicable law,
deduct such amount from any amounts your employer owes you from time to time for any reason (including without limitation amounts owed to you as salary, wages, reimbursements or other compensation, fringe benefits, retirement benefits or vacation
pay). Whether or not your employer elects to make any such set-off in whole or in part, if your employer does not recover by means of set-off the full amount you owe it, you hereby agree to pay immediately the unpaid balance to your employer.

 15. Listing; securities considerations. Despite anything else in this agreement, if at any time Unit determines, in its
sole discretion, that the listing, registration or qualification (or any updating of any such document) of the shares issuable under this agreement is necessary on any securities exchange or under any federal or state securities or blue sky law, or
that the consent or approval of any governmental regulatory body is necessary or desirable as a condition of, or in connection with the issuance of the shares of restricted stock, or the removal of any restrictions imposed on such shares, such
shares will not be issued, in whole or in part, or the restrictions on the shares removed, unless such listing, registration, qualification, consent or approval will have been effected or obtained free of any conditions not acceptable to Unit.

 Page 6 of 8 

 16. Binding effect. This agreement will inure to the benefit of and be binding on the parties to this
agreement and their respective heirs, executors, administrators, legal representatives and successors. Without limiting the generality of the foregoing, whenever the term “you” is used in any provision of this agreement under circumstances
where the provision appropriately applies to the heirs, executors, administrators or legal representatives to whom this award may be transferred as provided for in this agreement, the term “you” will be deemed to include that person or
persons. 
 17. Plan provisions govern. 
  

	 	A.	This award is subject to the terms, conditions, restrictions and other provisions of the Plan as fully as if all those provisions were set forth in their entirety in
this agreement. If any provision of this agreement conflicts with a provision of the Plan, the Plan provision will control. 

  

	 	B.	You acknowledge that a copy of the Plan and a prospectus summarizing the Plan was distributed or made available to you and that you were advised to review that material
before entering into this agreement. You waive the right to claim that the provisions of the Plan are not binding on you and your heirs, executors, administrators, legal representatives and successors. 

 

	 	C.	By your signature below, you represent that you are familiar with the terms and provisions of the Plan, and hereby accept this agreement subject to all of the
terms and provisions of the Plan. You have reviewed the Plan and this agreement in their entirety and fully understand all provisions of this agreement. You agree to accept as binding, conclusive and final all decisions or interpretations of the
Committee on any questions arising under the Plan or this agreement. 

 18. Governing law. This agreement will be governed
by and construed in accordance with the laws of the State of Oklahoma despite any laws of the State of Oklahoma that would apply the laws of a different State. 
 19. Severability. If any term or provision of this agreement, or the application of this agreement to any person or circumstance, will at any time or to any extent be invalid, illegal or
unenforceable in any respect as written, both parties intend for any court construing this agreement to modify or limit that provision so as to render it valid and enforceable to the fullest extent allowed by law. Any provision that is not
susceptible of reformation will be ignored so as to not affect any other term or provision of this agreement, and the remainder of this agreement, or the application of that term or provision to persons or circumstances other than those as to which
it is held invalid, illegal or unenforceable, will not be affected thereby and each term and provision of this agreement will be valid and enforced to the fullest extent permitted by law. 

20. Consent to electronic delivery; electronic signature. In lieu of receiving documents in paper format, you agree, to the fullest extent
permitted by law, to accept electronic delivery of any documents that may be required to be deliver to you (including, but not limited to, prospectuses, prospectus supplements, grant or award notifications and agreements, account statements, annual
and quarterly reports, and all other forms of communications) in connection with this and any other award made or offered by Unit. Electronic delivery may be via electronic mail system or by reference to a location on a company intranet to which you
have access. You hereby consent to any and all procedures Unit has established or may establish for an electronic signature system for delivery and acceptance of any such documents that may be required to be delivered to you, and agrees that your
electronic signature is the same as, and will have the same force and effect as, your manual signature. 
 21. Entire agreement;
modification. The Plan and this agreement contain the entire agreement between the parties with respect to the subject matter contained in this agreement and may not be modified except as provided in the Plan, as it may be amended from time to
time in the manner provided in the Plan (or in this agreement), or as it may be amended from time to time by a written document signed by each of the parties to this agreement. Any oral or written agreements, representations, warranties, written
inducements, or other communications with respect to the subject matter contained in this agreement made before the signing of this agreement will be void and ineffective for all purposes. 

  
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 22. Counterparts. This agreement may be signed in duplicate counterparts, each of which will be
deemed to be an original. 
  

							
	 UNIT CORPORATION:
	  		 	PARTICIPANT:
				
		 		  		 	
	 By:
	 	Mark E. Schell	  		 	[                       
             ]
	 Title:
	 	Senior Vice President	  		 	

 ************************************************************************************************************ 

DESIGNATION OF BENEFICIARY 
 UNIT CORPORATION STOCK AND INCENTIVE COMPENSATION PLAN 
 I,
[                                         
           ] xxx-xx-[            ]             , hereby declare
that in the event  

                    
        Name                     Social Security No. (last 4 digits REQUIRED) 

of my death while I am employed by the Company
                                         
                                         
                                      

                    
                                         
       Name                     Social Security No. (last 4 digits REQUIRED) 

(the “Beneficiary”) of
                                         
                                         
                                         
                                         
        , 

                         
                   Street Address
                    City
                        State
                            Zip Code 
 who is my
                                         
                                   , will be entitled to receive my
undelivered shares of restricted stock 

                         
       Relationship to [                        ] 

that are subject to this award having a date of grant of February 15, 2011. 

It is understood that this Designation of Beneficiary is made under the Unit Corporation Stock and Incentive Compensation Plan and is
subject to the terms and conditions stated in the plan, including the Beneficiary’s survival of my death. If any of those conditions are not satisfied, those rights will transfer according to my will or the laws of descent and distribution.

 It is further understood that all prior Designations of Beneficiary made by me under the plan, if any, with regard to this
Restricted Stock Award Agreement are hereby revoked. I reserve the right to change (revoke) this Designation of Beneficiary. Any change of this Designation of Beneficiary must be in writing, signed by me and filed with the Company before my death.

  

					
	
[                        
            ]
	  		 	Date

  
 Page 8 of 8Executive Change of Control Agreement

 Exhibit 10.1 
 Execution Copy 
 EXECUTIVE CHANGE OF CONTROL AGREEMENT 

This EXECUTIVE CHANGE OF CONTROL AGREEMENT (“Agreement”) is made as of the 2nd day of August 2011, between CIRCOR, Inc., a
Massachusetts corporation (the “Company”), and Michael Ross Dill (“Executive”). 
 WHEREAS, the
Company presently employs the Executive in which capacity the Executive serves as an officer of the Company and its Parent (as defined below); and 
 WHEREAS, the Board of Directors of the Parent (the “Board”) recognizes the valuable services rendered to the Company, the Parent and their respective affiliates by the Executive; and

 WHEREAS, the Board has determined that it is in the best interests of the Company, the Parent and their affiliates to
encourage in advance the continued loyalty of the Executive as well as the Executive’s continued attention to her assigned duties and objectivity in the event of a threatened or possible change in control of the Parent; 

NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 

1. Definitions. For purposes of this Agreement, the following terms shall have the following meanings:

 “Cause” shall mean: (a) conduct by Executive constituting a material act of willful misconduct in
connection with the performance of her duties, including, without limitation, misappropriation of funds or property of the Company or any of its affiliates other than the occasional, customary and de minimis use of Company property for personal
purposes; (b) criminal or civil conviction of Executive, a plea of polo contendere by Executive or conduct by Executive that would reasonably be expected to result in material injury to the reputation of the Company if he were retained in her
position with the Company, including, without limitation, conviction of a felony involving moral turpitude; (c) continued, willful and deliberate non-performance by Executive of her duties hereunder (other than by reason of Executive’s
physical or mental illness, incapacity or disability) which has continued for more than thirty (30) days following written notice of such non-performance from the Chief Executive Officer; or (d) a violation by Executive of the
Company’s employment policies which has continued following written notice “of such violation from the Chief Executive Officer. 
 “Change in Control” shall mean any of the following: 
 (a) Any
“person,” as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Act”) (other than the Parent, any of its subsidiaries, any member of the Home Family Group (as defined herein) or
any trustee, fiduciary or other person or entity holding securities udder any employee benefit plan or trust of the Parent or any of its subsidiaries), together with all “affiliates” and “associates” (as such terms are defined in
Rule 12b-2 under the Act) of such person, shall become the “beneficial owner” (as 

  

[Signature Page to Executive Change of Control Agreement] 

 
such term is defined in Rule 13d-3 under the Act), directly or indirectly, of securities of the Parent representing twenty-five percent (25%) or more of either (A) the combined voting
power of the Parent’s then outstanding securities having the right to voice in an election of the Parent’s Board (“Voting Securities”) or (B) the then outstanding shares of Parent’s common stock, par value $0.01 per
share (“Common Stock”) (other than as a result of an acquisition of securities directly from the Parent); or 
 (b)
Incumbent Directors (as defined below) cease for any reason, including, without limitation, as a result of a tender offer, proxy contest, merger or similar transaction, to constitute at least a majority of the Board; or 

(c) The stockholders of the Parent shall approve (A) any consolidation or merger of the Parent where the stockholders of the Parent,
immediately prior to the consolidation or merger, would not, immediately after the consolidation or merger, beneficially own (as such term is defined in Rule 13d-3 under the Act), directly or indirectly, shares representing in the aggregate fifty
percent (50%) or more of the voting shares of the Parent or other party issuing cash or securities in the consolidation or merger (or of its ultimate parent corporation, if any), (B) any sale, lease, exchange or other transfer (in one
transaction or a series of transactions contemplated or arranged by any party as a single plan) of all or substantially all of the assets of the Parent or (C) any plan or proposal for the liquidation or dissolution of the Parent. 

Notwithstanding the foregoing, a “Change of Control” shall not be deemed to have occurred for purposes of the foregoing clause
(a) solely as the result of an acquisition of securities by the Parent which, by reducing the number of shares of Common Stock or other Voting Securities outstanding, increases the proportionate number of shares beneficially owned by any person
to twenty-five percent (25%) or more of either (A) the combined voting power of all of the then outstanding Voting Securities or (B) Common Stock; provided, however, that if any person referred to in this sentence shall thereafter
become the beneficial owner of any additional shares of Voting Securities or Common Stock (other than pursuant to a stock split, stock dividend, or similar transaction or as a result of an acquisition of securities directly from the Parent) and
immediately thereafter beneficially owns twenty-five percent (25%) or more of either (A) the combined voting power of all of the then outstanding Voting Securities or (B) Common Stock, then a “Change of Control” shall be
deemed to have occurred for purposes of the foregoing clause (a). 
 “Good Reason” shall mean that Executive
has complied with the “Good Reason Process” (hereinafter defined) following the occurrence of any of the following events: (a) a material diminution in the Executive’s responsibilities, authority or duties; (b) a material
diminution in the Executive’s Base Salary except for across-the-board salary reductions based on the Company’s financial performance similarly affecting all or substantially all senior management employees of the Company; (c) a
material change in the geographic location at which the Executive provides services to the Company, provided that such change shall be more than thirty (30) miles from such location; or (d) the material breach of this Agreement by the
Company. “Good Reason Process” shall mean that (i) Executive reasonably determines in good faith that a “Good Reason” event has occurred; (ii) Executive notifies the Company in writing of the occurrence of the Good
Reason event within sixty (60) days of the occurrence of such event; (iii) Executive cooperates in good faith with the Company’s efforts, for a period not less than 

  
 2 

 
ninety (90) days following such notice, to modify Executive’s employment situation in a manner acceptable to Executive and Company; and (iv) notwithstanding such efforts, one or
more of the Good Reason events continues to exist and has not been modified in a manner acceptable to Executive. If the Company cures the Good Reason event in a manner acceptable to Executive during the ninety (90) day period, Good Reason shall
be deemed not to have occurred. 
 “Incumbent Directors” shall mean persons who, as of the Commencement Date,
constitute the Board; provided that any person becoming a director of the Parent subsequent to the Commencement Date shall be considered an Incumbent Director if such person’s election was approved by or such person was nominated for election
by a vote of at least a majority of the Incumbent Directors; but provided further, that any such person whose initial assumption of office is in connection with an actual or threatened election contest relating to the election of members of the
Board or other actual or threatened solicitation of proxies or consents by or on behalf of a person other than the Board, including by reason of agreement intended to avoid or settle any such actual or threatened contest or solicitation, shall not
be considered an Incumbent Director. 
 “Parent” shall mean CIRCOR International, Inc., a Delaware corporation
as well as its successors by merger or otherwise. 
 2. Term. The term of this Agreement shall
extend from the date hereof (the “Commencement Date”) until the first anniversary of the Commencement Date; provided, however, that the term of this Agreement shall automatically be extended for one additional year on the first anniversary
of the Commencement Date and each anniversary thereafter unless, not less than 90 days prior to each such date, either party shall have given notice to the other that it does not wish to extend this Agreement; provided, further, that if a Change in
Control occurs during the original or extended term of this Agreement, the term of this Agreement shall continue in effect for a period of not less than twelve (12) months beyond the month in which the Change in Control occurred. 

3. Change in Control Payment. The provisions of this Paragraph 3 set forth certain terms of an agreement
reached between Executive and the Company regarding Executive’s rights and obligations upon the occurrence of a Change in Control of the Parent. These provisions are intended to assure and encourage in advance Executive’s continued
attention and dedication to her assigned duties and her objectivity during the pendency and after the occurrence of any such event. These provisions shall terminate and be of no further force or effect beginning twelve (12) months after the
occurrence of a Change of Control. 
 (a) Change in Control. 

(i) If within twelve (12) months after the occurrence of the first event constituting a Change in Control,
Executive’s employment is terminated by the Company without Cause as defined in Section 1 or Executive terminates her employment for Good Reason as provided in Section 1, then the Company shall pay Executive a lump sum in cash in an
amount equal to two (2) times the sum of (A) Executive’s current Base Salary plus (B) Executive’s highest annual incentive compensation under the Company’s Executive Bonus Incentive Plan in the three
(3) immediately preceding fiscal years, 

  
 3 

 
excluding any sign-on bonus, retention bonus or any other special bonus. Such lump sum cash payment shall be paid to Executive within thirty (30) days following the date of termination of
Executive’s employment; and 
 (ii) Notwithstanding anything to the contrary in any applicable option
agreement or stock-based award agreement, upon a Change in Control, all stock options and other stock-based awards granted to Executive by the Parent shall immediately accelerate and become exercisable or non-forfeitable as of the effective date of
such Change in Control. In addition, all restricted stock units held by the Executive pursuant to the Management Stock Purchase Plan shall become fully vested upon a Change of Control and the Executive shall be entitled to receive the shares of
stock represented by such restricted stock units. Executive shall also be entitled to any other rights and benefits with respect to stock-related awards, to the extent and upon the terms, provided in the employee stock option or incentive plan or
any agreement or other instrument attendant thereto pursuant to which such options or awards were granted; and 

(iii) The Company shall, for a period of two (2) years commencing on the date of termination of Executive’s
employment, pay such health insurance premiums as may be necessary to allow Executive, Executive’s spouse and dependents to continue to receive health insurance coverage substantially similar to the coverage they received prior to the date of
termination of Executive’s employment. 
 (b) Additional Limitation. 

(i) Anything in this Agreement to the contrary notwithstanding, in the event that any compensation, payment or
distribution by the Company to or for the benefit of Executive, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise (the “Severance Payments”), would be subject to the excise tax
imposed by Section 4999 of the Internal Revenue Code of 1986, as amended (the “Code”), the following provisions shall apply: 
 (A) If the Severance Payments, reduced by the sum of (1) the Excise Tax and (2) the total of the Federal, state and local income and employment taxes payable by Executive on the amount of the
Severance Payments which are in excess of the Threshold Amount, are greater than or equal to the Threshold Amount, Executive shall be entitled to the full benefits payable under this Agreement. 

(B) If the Threshold Amount is less than (x) the Severance Payments, but greater than (y) the Severance
Payments reduced by the sum of (1) the Excise Tax and (2) the total of the Federal, state, and local income and employment taxes on the amount of the Severance Payments which are in excess of the Threshold Amount, then the benefits payable
under this Agreement shall be reduced (but not below zero) to the extent necessary so that the maximum Severance Payments shall not exceed the Threshold Amount. To the extent that there is more than one method of reducing the payments to bring them
within the Threshold Amount, the Severance Payments shall be reduced in the following 

  
 4 

 
order: (i) cash payments not subject to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”); (ii) cash payments subject to Section 409A of the
Code; (iii) equity-based payments; and (iv) non-cash form of benefits. To the extent any payment is to be made over time (e.g., in installments), then the payments shall be reduced in reverse chronological order. 

For the purposes of this Paragraph 3, “Threshold Amount” shall mean three times Executive’s “base
amount” within the meaning of Section 280G(b)(3) of the Code and the regulations promulgated thereunder less one dollar ($1.00); and “Excise Tax” shall mean the excise tax imposed by Section 4999 of the Code, and any
interest or penalties incurred by Executive with respect to such excise tax. 
 (ii) The determination as to
which of the alternative provisions of Paragraph 3(b)(i) shall apply to Executive shall be made by KPMG LLP or any other nationally recognized accounting firm selected by the Company (the “Accounting Firm”), which shall provide detailed
supporting calculations both to the Company and Executive within 15 business days of the date of termination of Executive’s employment, if applicable, or at such earlier time as is reasonably requested by the Company or Executive. For purposes
of determining which of the alternative provisions of Paragraph 3(b)(i) shall apply, Executive shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation applicable to individuals for the calendar year in
which the determination is to be made, and state and local income taxes at the highest marginal rates of individual taxation in the state and locality of Executive’s residence on the date of termination of Executive’s employment, net of
the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes. Any determination by the Accounting Firm shall be binding upon the Company and Executive. 

4. Unauthorized Disclosures. Executive acknowledges that in the course of her employment with the Company
(and, if applicable, its predecessors), he has been allowed to become, and will continue to be allowed to become, acquainted with the Company’s and the Parent’s business affairs, information, trade secrets, and other matters which are of a
proprietary or confidential nature, including but not limited to the Company’s, the Parent’s and their affiliates’ and predecessors’ operations, business opportunities, price and cost information, finance, customer information,
business plans, various sales techniques, manuals, letters, notebooks, procedures, reports, products, processes, services, and other confidential information and knowledge (collectively the “Confidential Information”) concerning the
Company’s, the Parent’s and their affiliates’ and predecessors’ business. The Company agrees to provide on an ongoing basis such Confidential Information as the Company deems necessary or desirable to aid Executive in the
performance of her duties. Executive understands and acknowledges that such Confidential Information is confidential, and he agrees not to disclose such Confidential Information to anyone outside the Company or the Parent except to the extent that
(i) Executive deems such disclosure or use reasonably necessary or appropriate in connection with performing her duties on behalf of the Company and the Parent, (ii) Executive is i required by order of a court of competent jurisdiction (by
subpoena or similar process) to disclose or discuss any Confidential Information, provided that in such case, Executive shall promptly inform the Company or the Parent, as appropriate, of such event, shall cooperate with the Company or the

  
 5 

 
Parent, as appropriate, in attempting to obtain a protective order or to otherwise restrict such disclosure, and shall only disclose Confidential Information to the minimum extent necessary to
comply with any such court order; (iii) such Confidential Information becomes generally known to and available for use in the Company’s industry (the “Fluid-Control Industry”), other than as a result of any action or inaction by
Executive; or (iv) such information has been rightfully received by a member of the Fluid-Control Industry or has been published in a form generally available to the Fluid-Control Industry prior to the date Executive proposes to disclose or use
such information. Executive further agrees that he will not during employment and/or at any time thereafter use such Confidential Information in competing, directly or indirectly, with the Company or the Parent. At such time as Executive shall cease
to be employed by the Company, he will immediately turn over to the Company or the Parent, as appropriate, all Confidential Information, including papers, documents, writings, electronically stored information, other property, and all copies of them
provided to or created by him during the course of her employment with the Company. The provisions of this Paragraph 4 shall survive termination of this Agreement for any reason. 

5. Covenant Not to Compete. In consideration of the benefits afforded the Executive under the terms provided
in this Agreement and as a means to aid in the performance and enforcement of the terms of the provisions of Paragraph 4, Executive agrees that 
 (a) during the term of Executive’s employment with the Company and for a period of twelve (12) months thereafter, regardless of the reason for termination of employment, Executive will not,
directly or indirectly, as an owner, director, principal, agent, officer, employee, partner, consultant, servant, or otherwise, carry on, operate, manage, control, or become involved in any manner with any business, operation, corporation,
partnership, association, agency, or other person or entity which is engaged in a business that is competitive with any of the Company’s or the Parent’s products which are produced by the Company or the Parent or any affiliate of either
entity as of the date of Executive’s termination of employment with the Company, in any area or territory in which the Company or the Parent or any affiliate of either entity conducts operations; provided, however, that the foregoing shall not
prohibit Executive from owning up to one percent (1%) of the outstanding stock of a publicly held company engaged in the Fluid-Control Industry; and 
 (b) during the term of Executive’s employment with the Company and for a period of twelve (12) months thereafter, regardless of the reason for termination of employment, Executive will not
directly or indirectly solicit or induce any present or future employee of the Company or the Parent or any affiliate of either entity to accept employment with Executive or with any business, operation, corporation, partnership, association;
agency, or other person or entity with which Executive may be associated, and Executive will not employ or cause any business, operation, corporation, partnership, association, agency, or other person or entity with which Executive maybe associated
to employ any present or future employee of the Company or the Parent without providing the Company or the Parent, as appropriate, with ten (10) days’ prior written notice of such proposed employment. 

Should Executive violate any of the provisions of this Paragraph, then in addition to all other rights and remedies available to the Company at law or in
equity, the duration of this covenant shall automatically be extended for the period of time from which Executive began such violation until he permanently ceases such violation. 

  
 6 

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

If to the Executive: 
 At his home address as shown 
 in the Company’s personnel
records; 
 If to the Company: 
 CIRCOR, Inc. 
 25 Corporate Drive 

Burlington, MA 01803 
 Attention: Board of Directors of CIRCOR International, Inc. 
 or to such other address as either
party may have furnished to the other in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt. 
 7. Not an Employment Contract. This Agreement is intended only to provide those benefits for the Executive as set forth in Paragraph 3 in connection with a Change of Control.
As such, this Agreement is not intended to and does not in anyway constitute an employment agreement or other contract which would cause the employee to be considered anything other than an employee at will or to in any way be entitled to any
specific payments or benefits from the Company in the event of a termination of employment not subject to Paragraph 3 of this Agreement. 
 8. Miscellaneous. No provisions of this Agreement may be modified, waived, or discharged unless such waiver, modification, or discharge is agreed to in writing and signed by
Executive and such officer of the Company as may be specifically designated by the Board. No waiver by either party hereto of or compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a
waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. No agreements or representations, oral or otherwise, express or implied, unless specifically referred to herein, with respect to the subject
matter hereof have been made by either party which are not set forth expressly in this Agreement. The validity, interpretation, construction, and performance of this Agreement shall be governed by the laws of the Commonwealth of Massachusetts
(without regard to principles of conflicts of laws). 
 9. Validity. The invalidity or
unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect. The invalid portion of this Agreement, if any,
shall be modified by any court having jurisdiction to the extent necessary to render such portion enforceable. 

  
 7 

 10. Counterparts. This Agreement may be executed in several
counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument. 
 11. Arbitration; Other Disputes. In the event of any dispute or controversy arising under or in connection with this Agreement, the parties shall first promptly try in good
faith to settle such dispute or controversy by mediation under the applicable rules of the American Arbitration Association before resorting to arbitration. In the event such dispute or controversy remains unresolved in whole or in part for a period
of thirty (30) days after it arises, the parties will settle any remaining dispute or controversy exclusively by arbitration in Boston, Massachusetts, in accordance with the rules of the American Arbitration Association then in effect. Judgment
may be entered on the arbitrator’s award in any court having jurisdiction. Notwithstanding the above, the Company shall be entitled to seek a restraining order or injunction in any court of competent jurisdiction to prevent any continuation of
any violation of Paragraph 4 or 5 hereof. 
 12. Litigation and Regulatory Cooperation. During and
after Executive’s employment, Executive shall reasonably cooperate with the Company and the Parent in the defense or prosecution of any claims or actions now in existence or which may be brought in the future against or on behalf of the Company
and/or the Parent which relate to events or occurrences that transpired while Executive was employed by the Company; provided, however, that such cooperation shall not materially and adversely affect Executive or expose Executive to an increased
probability of civil or criminal litigation. Executive’s cooperation in connection with such claims or actions shall include, but not be limited to, being available to meet with counsel to prepare for discovery or trial and to act as a witness
on behalf of the Company and/or the Parent at mutually convenient times. During and after Executive’s employment, Executive also shall cooperate fully with the Company and the Parent in connection with any investigation or review of any
federal, state or local regulatory authority as any such investigation or review relates to events or occurrences that transpired while Executive was employed by the Company. The Company shall also provide Executive with compensation on an hourly
basis (to be derived from the sum of her Base Compensation and Average Incentive Compensation) for requested litigation and regulatory cooperation that occurs after her termination of employment, and reimburse Executive for all costs and expenses
incurred in connection with her performance under this Paragraph 12, including, but not limited to, reasonable attorneys’ fees and costs. 
 13. Gender Neutral. Wherever used herein, a pronoun in the masculine gender shall be considered as including the feminine gender unless the context clearly indicates otherwise.

 14. Section 409A. 

(a) Anything in this Agreement to the contrary notwithstanding, if at the time of the Executive’s separation from service within the
meaning of Section 409A of the Code, the Company determines that the Executive is a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code, then to the extent any payment or benefit that the Executive
becomes entitled to under this Agreement on account of the Executive’s separation from service would be considered deferred compensation subject to the 20 percent additional tax imposed pursuant to Section 409A(a) of the Code as a result
of the application of Section 

  
 8 

 
409A(a)(2)(B)(i) of the Code, such payment shall not be payable and such benefit shall not be provided until the date that is the earlier of (A) six months and one day after the
Executive’s separation from service, or (B) the Executive’s death. 
 (b) The parties intend that this Agreement
will be administered in accordance with Section 409A of the Code. To the extent that any provision of this Agreement is ambiguous as to its compliance with Section 409A of the Code, the provision shall be read in such a manner so that all
payments hereunder comply with Section 409A of the Code. The parties agree that this Agreement may be amended, as reasonably requested by either party, and as may be necessary to fully comply with Section 409A of the Code and all related
rules and regulations in order to preserve the payments and benefits provided hereunder without additional cost to either party. 
 (c) The determination of whether and when a separation from service has occurred shall be made in accordance with the presumptions set forth in Treasury Regulation Section 1.409A-1(h). 

(d) The Company makes no representation or warranty and shall have no liability to the Executive or any other person if any provisions of
this Agreement are determined to constitute deferred compensation subject to Section 409A of the Code but do not satisfy an exemption from, or the conditions of, such Section. 

(e) All in-kind benefits provided and expenses eligible for reimbursement under this Agreement shall be provided by the Company or
incurred by the Executive during the time periods set forth in this Agreement. All reimbursements shall be paid as soon as administratively practicable, but in no event shall any reimbursement be paid after the last day of the taxable year following
the taxable year in which the expense was incurred. The amount of in-kind benefits provided or reimbursable expenses incurred in one taxable year shall not affect the in-kind benefits to be provided or the expenses eligible for reimbursement in any
other taxable year. Such right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit. 
 [Remainder of Page Intentionally Left Blank] 

  
 9 

 IN WITNESS WHEREOF, the parties have executed this Agreement effective on the date
and year first above written. 
  

			
	CIRCOR, INC.
		
	By:	 	 /s/ A. William Higgins

		 	A. William Higgins
		 	Chairman, President & Chief Executive Officer
	
	EXECUTIVE
	
	 /s/ Michael Ross Dill

	Michael Ross Dill

  

[Signature Page to Executive Change of Control Agreement]

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