Document:

EX-4.3

 Exhibit 4.3 

ENABLE MIDSTREAM PARTNERS, LP 

LONG TERM INCENTIVE PLAN 

1. Purpose. The Enable Midstream Partners, LP Long Term Incentive Plan has been adopted by Enable GP, LLC, a limited liability company
(the “Company”), the general partner of Enable Midstream Partners, LP, a limited partnership (the “Partnership”), for the purpose of attracting and retaining Directors, officers, Consultants and Employees, and to provide such
persons with incentives and rewards for performance. 
 2. Definitions. As used in this Plan: 

(a) “Affiliate” means with respect to any Person, any other Person that directly or indirectly through one or more intermediaries
controls, is controlled by or is under common control with, the person in question. As used herein, the term “control” means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies
of a Person, whether through ownership of Voting Securities, by contract or otherwise. Notwithstanding the foregoing, the term “Affiliate” with respect to the Company, means (i) OGE Energy Corp. and each of its wholly-owned
subsidiaries, so long as OGE Energy Corp., or one of its wholly-owned subsidiaries has the power under the GP Agreement to designate one or more individuals to serve on the Board and (ii) CenterPoint Energy, Inc. and each of its wholly-owned
subsidiaries so long as CenterPoint Energy, Inc. or one of its wholly-owned subsidiaries has the power under the GP Agreement to designate one or more individuals to serve on the Board. 

(b) “Appreciation Right” means a right granted pursuant to Section 5 of this Plan, and includes both Free-Standing
Appreciation Rights and Tandem Appreciation Rights. 
 (c) “Award” means a Phantom Unit, Performance Unit, Appreciation Right,
Restricted Unit, Option Right, Cash Incentive Award, DER or Other Award granted under the Plan. 
 (d) “Base Price” means the price
to be used as the basis for determining the Spread upon the exercise of a Free-Standing Appreciation Right or a Tandem Appreciation Right. 

(e) “Board” means the Board of Directors of the Company. 

(f) “Cash Incentive Award” means a cash Award granted pursuant to Section 8 of this Plan. 

(g) “Change of Control” means, and shall be deemed to have occurred upon one or more of the following events: 

(i) any Person, other than an Affiliate of the Company, shall become the beneficial owner, by way of merger, consolidation,
recapitalization, purchase, reorganization or otherwise, of greater than fifty percent (50%), directly or indirectly, of the voting power of the Voting Securities of the Company; 

 (ii) a plan of complete liquidation of the Company or the Partnership is
approved; 
 (iii) the sale or other disposition by the Company or the Partnership of all or substantially all of its assets
in one or more transactions to any Person other than an Affiliate of the Company and other than any such transaction or transactions where, upon completion of the transaction or transactions, either CenterPoint Energy, Inc. and its Affiliates or OGE
Energy Corp. and its Affiliates own at least fifty percent (50%) of the voting power of the Voting Securities of such Person; or 

(iv) a Person, other than the Company or an Affiliate of the Company, becomes the general partner of the Partnership. 

(h) “Code” means the Internal Revenue Code of 1986, as amended from time to time. 

(i) “Committee” means the Board, except that it shall mean such committee or sub-committee of the Board as may be appointed by the
Board to administer the Plan, or as necessary to comply with applicable legal requirements or listing standards. 
 (j) “Company”
has the meaning set forth in Section 1 of this Plan. 
 (k) “Consultant” means an individual, other than an
Employee or a Director, providing bona fide services to the Partnership or any of its subsidiaries as a consultant or advisor, as applicable, provided that such individual is a natural person. 

(l) “Date of Grant” means the date specified by the Committee on which a grant of Option Rights, Appreciation Rights, Phantom Units,
Performance Units, Cash Incentive Awards, DERs or Other Awards under this Plan, or a grant or sale of Restricted Units, Phantom Units, or Other Awards, will become effective (which date will not be earlier than the date on which the Committee takes
action with respect thereto). 
 (m) “DER” means a contingent right to receive an amount in cash equal in value to the
distributions made by the Partnership with respect to a Unit during the period such Award is outstanding. 
 (n) “Director” means a
member of the Board or a member of the board of directors or board of managers of the Partnership, Company or any of their Affiliates, who in any case is not an Employee or a Consultant. 

(o) “Effective Date” means the date this Plan is adopted by the Board. 

(p) “Employee” means an employee of the Company, the Partnership, or any of their Affiliates, and shall include any individual who
provides services to the Partnership or its Affiliates as a seconded employee. 
 (q) “Evidence of Award” means an agreement,
certificate, resolution or other type or form of writing or other evidence approved by the Committee that sets forth the 

  
 2 

 
terms and conditions of the Awards granted under the Plan. An Evidence of Award may be in an electronic medium, may be limited to notation on the books and records of the Partnership and, unless
otherwise determined by the Committee, need not be signed by a representative of the Partnership or a Participant. 
 (r) “Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder, as such law, rules and regulations may be amended from time to time. 

(s) “Free-Standing Appreciation Right” means an Appreciation Right granted pursuant to Section 5 of this Plan
that is not granted in tandem with an Option Right. 
 (t) “GP Agreement” means the limited liability company agreement of the
Company. 
 (u) “Management Objectives” means the measurable performance objective or objectives established pursuant to this Plan
for Participants who have received grants of Performance Units or Cash Incentive Awards or, when so determined by the Committee, Option Rights, Appreciation Rights, Phantom Units, Restricted Units, DERs or Other Awards pursuant to this Plan.
Management Objectives may be described in terms of Partnership-wide objectives or objectives that are related to the performance of the individual Participant or of one or more of the Subsidiaries, divisions, departments, regions, functions or other
organizational units within the Partnership or its Subsidiaries. The Management Objectives may be made relative to the performance of other companies or subsidiaries, divisions, departments, regions, functions or other organizational units within
such other companies, and may be made relative to an index or one or more of the performance objectives themselves. If the Committee determines that a change in the business, operations, corporate structure or capital structure of the Partnership,
or the manner in which it conducts its business, or other events or circumstances, including a change in relevant industry benchmarks, render the Management Objectives unsuitable, the Committee may in its discretion modify such Management Objectives
or the related minimum acceptable level of achievement, in whole or in part, as the Committee deems appropriate and equitable. 
 (v)
“Market Value per Unit” means, as of any particular date, the closing price of a one Unit as reported for that date on the New York Stock Exchange or, if the Units are not then listed on the New York Stock Exchange, on any other national
securities exchange on which the Units are listed, or if there are no sales on such date, on the next preceding trading day during which a sale occurred. If there is no regular public trading market for the Units, then the Market Value per Unit
shall be the fair market value as determined in good faith by the Committee. The Committee is authorized to adopt another fair market value pricing method provided such method is stated in the Evidence of Award and is in compliance with the fair
market value pricing rules set forth in Section 409A of the Code. 
 (w) “Optionee” means the optionee named in an Evidence of
Award evidencing an outstanding Option Right. 
 (x) “Option Price” means the purchase price payable on exercise of an Option
Right. 

  
 3 

 (y) “Option Right” means the right to purchase Units upon exercise of an option granted
pursuant to Section 4 of this Plan. 
 (z) “Other Awards” means awards granted pursuant to
Section 9 of this Plan. 
 (aa) “Participant” means a person who is selected by the Committee to receive
benefits under this Plan and who is at the time a Director, an Employee or a Consultant. 
 (bb) “Partnership” has the meaning set
forth in Section 1 of this Plan. 
 (cc) “Performance Period” means, in respect of an Award, a period of time
established within which the Management Objectives relating to such Award are to be achieved. 
 (dd) “Performance Unit” means a
bookkeeping entry that records the equivalent of one Unit pursuant to Section 8 of this Plan. 
 (ee) “Person”
has the meaning ascribed to such term in Section 3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d) thereof, including a “group” as defined in Section 13(d) thereof. 

(ff) “Plan” means this Enable Midstream Partners, LP Long Term Incentive Plan. 

(gg) “Phantom Unit” means a notional interest granted pursuant to Section 7 of this Plan that, to the extent
vested, entitles the Participant to receive a Unit or an amount of cash equal to the Market Value per Unit, as determined by the Committee in its discretion. 

(hh) “Restricted Unit” means a Unit granted or sold pursuant to Section 6 of this Plan as to which both the
substantial risk of forfeiture and the prohibition on transfers has not expired. 
 (ii) “Restriction Period” means the period of
time during which Restricted Units are subject to restrictions, as provided in Section 6 of this Plan. 
 (jj)
“Spread” means the excess of the Market Value per Unit on the date when an Option Right or Appreciation Right is exercised over the Option Price or Base Price provided for in the related Option Right or Appreciation Right, respectively.

 (kk) “Subsidiary” means a corporation, company or other entity (i) more than 50 percent of whose outstanding units or securities
(representing the right to vote for the election of Directors or other managing authority) are, or (ii) which does not have outstanding units or securities (as may be the case in a partnership, joint venture, limited liability company, or
unincorporated association), but more than 50 percent of whose ownership interest representing the right generally to make decisions for such other entity is, now or hereafter, owned or controlled, directly or indirectly, by the Partnership. 

(ll) “Tandem Appreciation Right” means an Appreciation Right granted pursuant to Section 5 of this Plan that is
granted in tandem with an Option Right. 
 (mm) “Unit” means a common unit of the Partnership. 

  
 4 

 (nn) “Voting Securities” of a Person means the securities of any class of such Person
entitling the holders thereof to vote in the election of, or to appoint, members of the board of directors or other similar governing body of the Person. 

3. Units Available Under the Plan.  

(a) Maximum Units Available Under Plan. 

(i) Subject to adjustment as provided in Section 11 of this Plan, the number of Units that may be issued or
transferred (A) upon the exercise of Option Rights or Appreciation Rights, (B) as Restricted Units and released from substantial risks of forfeiture thereof, (C) in payment of Phantom Units or Performance Units that have been earned,
(D) as Other Awards contemplated by Section 9 of this Plan, or (E) in payment of DERs will not exceed in the aggregate 13,100,000 Units, plus any Units that become available under this Plan as a result of forfeiture,
cancellation, expiration, or cash settlement of Awards, as provided in Section 3(b) below. Such Units may be Units of original issuance or treasury Units or a combination of the foregoing. 

(ii) The aggregate number of Units available for issuance or transfer under Section 3(a)(i) of this Plan
will be reduced by one Unit for every Unit issued or transferred upon exercise of an Option Right or Appreciation Right granted under this Plan or issued or transferred in connection with an Award other than an Option Right or Appreciation Right
granted under this Plan. Subject to the provisions of Section 3(b) of this Plan, Units covered by an Award granted under this Plan will not be counted as used unless and until they are actually issued or transferred. 

(b) Unit Counting Rules. 

(i) If any Units issued or transferred pursuant to an Award granted under this Plan are forfeited, or an Award granted under
this Plan is cancelled or forfeited, expires or is settled for cash (in whole or in part), the Units issued or transferred pursuant to, or subject to, such Award (as applicable) will, to the extent of such cancellation, forfeiture, expiration, or
cash settlement, again be available for issuance or transfer under Section 3(a) above. 
 (ii)
Notwithstanding anything to the contrary contained in this Section 3, the following Units will not be added to the aggregate number of Units available for issuance or transfer under Section 3(a) above:
(A) Units tendered or otherwise used in payment of the Option Price of an Option Right; (B) Units withheld by the Partnership to satisfy a tax withholding obligation; (C) Units subject to an Appreciation Right that are not actually
issued in connection with such Units’ settlement on exercise thereof; and (D) Units reacquired by the Partnership on the open market or otherwise using cash proceeds from the exercise of Option Rights. In addition, if, under this Plan, a
Participant has elected to give up the right to receive compensation in exchange for Units based on fair market value, such Units will not count against the aggregate plan limit under Section 3(a) above. 

  
 5 

 4. Option Rights. The Committee may, from time to time and upon such terms and conditions
as it may determine, authorize the granting to Participants of Option Rights. Each such grant may utilize any or all of the authorizations, and will be subject to all of the requirements, contained in the following provisions: 

(a) Each grant will specify the number of Units to which it pertains subject to the limitations set forth in Section 3 of
this Plan. 
 (b) Each grant will specify an Option Price per Unit, which (except with respect to Awards under Section 19
of this Plan) may not be less than the Market Value per Unit on the Date of Grant. 
 (c) Each grant will specify whether the Option Price
will be payable (i) in cash or by check acceptable to the Partnership or by wire transfer of immediately available funds, (ii) by the actual or constructive transfer to the Partnership of Units owned by the Optionee (or other consideration
authorized pursuant to Section 4(d) of this Plan) having a value at the time of exercise equal to the total Option Price, (iii) subject to any conditions or limitations established by the Committee, the Partnership’s
withholding of Units otherwise issuable upon exercise of an Option Right pursuant to a “net exercise” arrangement (it being understood that, solely for purposes of determining the number of treasury Units held by the Partnership, the Units
so withheld will not be treated as issued and acquired by the Partnership upon such exercise), (iv) by a combination of such methods of payment, or (v) by such other methods as may be approved by the Committee. 

(d) To the extent permitted by law, any grant may provide for deferred payment of the Option Price from the proceeds of sale through a bank or
broker on a date satisfactory to the Partnership of some or all of the Units to which such exercise relates. 
 (e) Successive grants may be
made to the same Participant whether or not any Option Rights previously granted to such Participant remain unexercised. 
 (f) Each grant
will specify the period or periods of continuous service by the Optionee with the Partnership, the Company or any of their Affiliates that is necessary before the Option Rights or installments thereof will become exercisable. A grant of Option
Rights may provide for the earlier exercise of such Option Rights, including (i) in the event of the retirement, death or disability of a Participant, or (ii) in the event of a Change in Control. 

(g) Any grant of Option Rights may specify Management Objectives that must be achieved during the Performance Period as a condition to the
exercise of such rights. 
 (h) The exercise of an Option Right will result in the cancellation on a unit-for-unit basis of any Tandem
Appreciation Right authorized under Section 5 of this Plan. 
 (i) No Option Right will be exercisable more than 10 years
from the Date of Grant. 
 (j) Option Rights granted under this Plan may not provide for any DERs thereon. 

  
 6 

 (k) Each grant of Option Rights will be evidenced by an Evidence of Award. Each Evidence of Award
will be subject to this Plan and will contain such terms and provisions, consistent with this Plan, as the Committee may approve. 
 5.
Appreciation Rights. 
 (a) The Committee may, from time to time and upon such terms and conditions as it may determine, authorize the
granting (i) to any Optionee, of Tandem Appreciation Rights in respect of Option Rights granted hereunder, and (ii) to any Participant, of Free-Standing Appreciation Rights. A Tandem Appreciation Right will be a right of the Optionee,
exercisable by surrender of the related Option Right, to receive from the Partnership an amount determined by the Committee, which will be expressed as a percentage of the Spread (not exceeding 100 percent) at the time of exercise. Tandem
Appreciation Rights may be granted at any time prior to the exercise or termination of the related Option Rights. A Free-Standing Appreciation Right will be a right of the Participant to receive from the Partnership an amount determined by the
Committee, which will be expressed as a percentage of the Spread (not exceeding 100 percent) at the time of exercise. 
 (b) Each grant of
Appreciation Rights may utilize any or all of the authorizations, and will be subject to all of the requirements, contained in the following provisions: 

(i) Each grant may specify that the amount payable on exercise of an Appreciation Right will be paid by the Partnership in
cash, Units or any combination thereof. 
 (ii) Any grant may specify that the amount payable on exercise of an Appreciation
Right may not exceed a maximum specified by the Committee at the Date of Grant. 
 (iii) Any grant may specify waiting
periods before exercise and permissible exercise dates or periods. 
 (iv) Each grant may specify the period or periods of
continuous service by the Participant with the Partnership, the Company or any of their Affiliates that is necessary before the Appreciation Rights or installments thereof will become exercisable. A grant of Appreciation Rights may provide for the
earlier exercise of such Appreciation Rights, including (i) in the event of the retirement, death or disability of a Participant, or (ii) in the event of a Change in Control. 

(v) Any grant of Appreciation Rights may specify Management Objectives that must be achieved during the Performance Period as a
condition of the exercise of such Appreciation Rights. 
 (vi) Each grant of Appreciation Rights will be evidenced by an
Evidence of Award, which Evidence of Award will describe such Appreciation Rights, identify the related Option Rights (if applicable), and contain such other terms and provisions, consistent with this Plan, as the Committee may approve. 

  
 7 

 (c) Any grant of Tandem Appreciation Rights will provide that such Tandem Appreciation Rights may
be exercised only at a time when the related Option Right is also exercisable and at a time when the Spread is positive, and by surrender of the related Option Right for cancellation. Successive grants of Tandem Appreciation Rights may be made to
the same Participant regardless of whether any Tandem Appreciation Rights previously granted to the Participant remain unexercised. 
 (d)
Appreciation Rights granted under this Plan may not provide for any DERs thereon. 
 (e) Regarding Free-Standing Appreciation Rights only:

         (i) Each grant will specify in respect of each Free-Standing Appreciation
Right a Base Price, which (except with respect to Awards under Section 19 of this Plan) may not be less than the Market Value per Unit on the Date of Grant; 

        (ii) Successive grants may be made to the same Participant regardless of
whether any Free-Standing Appreciation Rights previously granted to the Participant remain unexercised; and 

        (iii) No Free-Standing Appreciation Right granted under this Plan may be
exercised more than 10 years from the Date of Grant. 
 6. Restricted Units. The Committee may, from time to time and upon such terms
and conditions as it may determine, authorize the grant or sale of Restricted Units to Participants. Each such grant or sale may utilize any or all of the authorizations, and will be subject to all of the requirements, contained in the following
provisions: 
 (a) Each such grant or sale will constitute an immediate transfer of the ownership of Units to the Participant in
consideration of the performance of services, entitling such Participant to voting, distribution and other ownership rights, but subject to the fulfillment of such conditions (which may include the achievement of Management Objectives during the
Performance Period) during the Restriction Period as the Committee may specify on the Date of Grant and restrictions on transfer hereinafter referred to. 

(b) Each such grant or sale may be made without additional consideration or in consideration of a payment by such Participant that is equal to
or less than the Market Value per Unit at the Date of Grant. 
 (c) Each such grant or sale will provide that the Restricted Unit covered by
such grant or sale will be subject to a “substantial risk of forfeiture” within the meaning of Section 83 of the Code during the Restriction Period or until achievement of the Management Objectives during the Performance Period
referred to in subparagraph (e) below. 
 (d) Each such grant or sale will provide that during or after the period for which such
substantial risk of forfeiture is to continue, the transferability of the Restricted Unit will be prohibited or restricted in the manner and to the extent prescribed by the Committee at the Date of Grant (which restrictions may include, without
limitation, rights of repurchase or first refusal in the Partnership or provisions subjecting the Restricted Unit to a continuing substantial risk of forfeiture in the hands of any transferee). 

  
 8 

 (e) Any grant of Restricted Units may specify Management Objectives that, if achieved during the
Performance Period, will result in termination or early termination of the restrictions applicable to such Restricted Units. 
 (f)
Notwithstanding anything to the contrary contained in this Plan, any grant or sale of Restricted Units may provide for the earlier termination of restrictions on such Restricted Units, including (i) in the event of the retirement, death or
disability of a Participant or (ii) in the event of a Change in Control. 
 (g) Distributions on Restricted Units either may be paid
during the period of such restrictions or may be deferred until and paid contingent upon the achievement of the applicable Management Objectives during the Performance Period and the end of any applicable time-based vesting period, as the Committee
may determine. Any such grant or sale of Restricted Units may require that any or all distributions paid thereon during the period of such restrictions be automatically deferred and reinvested in additional Restricted Units, which may be subject to
the same restrictions as the underlying Award. 
 (h) Each grant or sale of Restricted Units will be evidenced by an Evidence of Award and
will contain such terms and provisions, consistent with this Plan, as the Committee may approve. Unless otherwise directed by the Committee, (i) all certificates representing Restricted Units will be held in custody by the Partnership until all
restrictions thereon will have lapsed, together with a powers executed by the Participant in whose name such certificates are registered, endorsed in blank and covering such units or (ii) all Restricted Units will be held at the
Partnership’s transfer agent in book entry form with appropriate restrictions relating to the transfer of such Restricted Units. 
 7.
Phantom Units. The Committee may, from time to time and upon such terms and conditions as it may determine, authorize the granting or sale of Phantom Units to Participants. Each such grant or sale may utilize any or all of the authorizations,
and will be subject to all of the requirements, contained in the following provisions: 
 (a) Each such grant or sale will constitute the
agreement by the Company to deliver Units, cash or a combination thereof to the Participant in the future in consideration of the performance of services, but subject to the fulfillment of such conditions (which may include the achievement of
Management Objectives during the Performance Period) as the Committee may specify. 
 (b) Each such grant or sale may be made without
additional consideration or in consideration of a payment by such Participant that is less than the Market Value per Unit at the Date of Grant. 

(c) Any grant of Phantom Units may specify Management Objectives, which, if achieved during the Performance Period, will result in payment or
early payment of the Award, or such grant may specify that payment of the Award will occur upon the passage of time, or upon the combination of the passage of time and achievement of a minimum acceptable

  
 9 

 
level or levels of Management Objectives and may set forth a formula for determining the number of Phantom Units that will be earned if performance is at or above the minimum or threshold level
or levels, or is at or above the target level or levels, but falls short of maximum achievement of the specified Management Objectives. 

(d) Notwithstanding anything to the contrary contained in this Plan, any grant or sale of Phantom Units may provide for the earlier vesting,
including (i) in the event of the retirement, death or disability of a Participant or (ii) in the event of a Change in Control. 

(e) The Participant will have no right to transfer any rights under his or her award and will have no rights of ownership in the Units
deliverable upon payment of the Phantom Units and will have no right to vote them, but the Committee may, at the Date of Grant, authorize the payment of DERs on such Phantom Units on a deferred or contingent basis, either in cash or in additional
Units. DERs on Phantom Units either may be paid during the vesting period or may be deferred until and paid contingent upon the achievement of the applicable Management Objectives during the Performance Period and the end of any applicable
time-based vesting period, as the Committee may determine. 
 (f) Each grant or sale of Phantom Units will specify the time and manner of
payment of the Phantom Units that have been earned. Each grant or sale will specify that the amount payable with respect thereto will be paid by the Partnership in Units, cash, or a combination thereof. 

(g) Each grant or sale of Phantom Units will be evidenced by an Evidence of Award and will contain such terms and provisions, consistent with
this Plan, as the Committee may approve. 
 8. Cash Incentive Awards and Performance Units. The Committee may, from time to
time and upon such terms and conditions as it may determine, authorize the granting of Cash Incentive Awards and Performance Units. Each such grant may utilize any or all of the authorizations, and will be subject to all of the requirements,
contained in the following provisions: 
 (a) Each grant will specify the number or amount of Performance Units, or amount payable
with respect to Cash Incentive Awards, to which it pertains, which number or amount may be subject to adjustment to reflect changes in compensation or other factors. 

(b) Any grant of Cash Incentive Awards or Performance Units may provide, as may be determined by the Committee at the time of grant, for the
earlier payment or other modification, including (i) in the event of the retirement, death or disability of a Participant or (ii) in the event of a Change in Control. 

(c) Any grant of Cash Incentive Awards or Performance Units will specify Management Objectives which, if achieved during the Performance
Period, will result in payment or early payment of the Award, and each grant may specify in respect of such specified Management Objectives a minimum acceptable level or levels of achievement and may set forth a formula for determining the number of
Performance Units, or amount payable with respect to Cash Incentive Awards, that will be earned if performance is at or above the minimum or threshold level or levels, or is at or above the target level or levels, but falls short of maximum
achievement of the specified Management Objectives. 

  
 10 

 (d) Each grant will specify the time and manner of payment of Cash Incentive Awards or
Performance Units that have been earned. Any grant may specify that the amount payable with respect thereto may be paid by the Partnership in cash, in Units, Restricted Units or in any combination thereof. 

(e) Any grant of Cash Incentive Awards or Performance Units may specify that the amount payable or the number of Units or Restricted Units with
respect thereto may not exceed a maximum specified by the Committee at the Date of Grant. 
 (f) The Committee may, at the Date of Grant of
Performance Units, provide for the payment of DERs to the holder thereof either in cash or in additional Units, subject in all cases to deferral and payment on a contingent basis based on the Participant’s earning of the Performance Units with
respect to which such DERs are paid. 
 (g) Each grant of Cash Incentive Awards or Performance Units will be evidenced by an Evidence of
Award and will contain such other terms and provisions, consistent with this Plan, as the Committee may approve. 
 9. Other Awards.

 (a) Subject to applicable law and the limit set forth in Section 3(c) of this Plan, the Committee may grant to any
Participant such Other Awards (including profits interests) that may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on, or related to, Units or factors that may influence the value of such Units,
including, without limitation, convertible or exchangeable debt securities, other rights convertible or exchangeable into Units, purchase rights for Units, awards with value and payment contingent upon performance of the Partnership or specified
Subsidiaries, Affiliates of the Partnership or other business units thereof or any other factors designated by the Committee, and awards valued by reference to the book value of the Units or the value of securities of, or the performance of
specified Subsidiaries or Affiliates of the Partnership or other business units of the Partnership. The Committee will determine the terms and conditions of such Other Awards. Units delivered pursuant to an Other Award in the nature of a purchase
right granted under this Section 9 will be purchased for such consideration, paid for at such time, by such methods, and in such forms, including, without limitation, Units, Other Awards, notes or other property, as the Committee
determines. 
 (b) Cash awards, as an element of or supplement to any Award granted under this Plan, may also be granted pursuant to this
Section 9. 
 (c) The Committee may grant Units as a bonus, or may grant Other Awards in lieu of obligations of the
Partnership, the Company or any of their Affiliates to pay cash or deliver other property under this Plan or under other plans or compensatory arrangements, subject to such terms as will be determined by the Committee in a manner that complies with
Section 409A of the Code. 

  
 11 

 (d) Notwithstanding anything to the contrary contained in this Plan, any grant of an Other Award
under this Section 9 may provide for the earning or vesting of, or earlier elimination of restrictions applicable to, such Other Award, including (i) in the event of the retirement, death or disability of the Participant, or
(ii) in the event of a Change in Control. 
 10. Administration of the Plan. 

(a) This Plan will be administered by the Committee. The Committee may from time to time delegate all or any part of its authority under this
Plan to a subcommittee thereof. To the extent of any such delegation, references in this Plan to the Committee will be deemed to be references to such subcommittee. 

(b) The interpretation and construction by the Committee of any provision of this Plan or of any agreement, notification or document evidencing
the grant of Awards under this Plan and any determination by the Committee pursuant to any provision of this Plan or of any such agreement, notification or document will be final and conclusive. No member of the Committee shall be liable for any
such action or determination made in good faith. In addition, the Committee is authorized to take any action it determines in its sole discretion to be appropriate subject only to the express limitations contained in this Plan, and no authorization
in any Plan Section or other provision of this Plan is intended or may be deemed to constitute a limitation on the authority of the Committee. 

(c) The Committee may delegate to one or more of its members or to one or more officers of the Partnership, or to one or more agents or
advisors, such administrative duties or powers as it may deem advisable, and the Committee, the subcommittee, or any person to whom duties or powers have been delegated as aforesaid, may employ one or more persons to render advice with respect to
any responsibility the Committee, the subcommittee or such person may have under the Plan. The Committee may, by resolution, authorize one or more key Employees of the Partnership, Company or their Affiliates to do one or both of the following on
the same basis as the Committee: (i) designate Employees to be recipients of Awards under this Plan; and (ii) determine the size of any such Awards; provided, however, that (A) the Committee will not delegate such
responsibilities to any such officer for Awards granted to an Employee who is an officer, Director, or more than 10% beneficial owner of any class of the Partnership’s equity securities that is registered pursuant to Section 12 of the
Exchange Act, as determined by the Committee in accordance with Section 16 of the Exchange Act; (B) the resolution providing for such authorization sets forth the total number of Units such officer(s) may grant; and (C) the officer(s)
will report periodically to the Committee regarding the nature and scope of the Awards granted pursuant to the authority delegated. 
 11.
Adjustments. The Committee will make or provide for such adjustments in the numbers of Units covered by outstanding Option Rights, Appreciation Rights, Restricted Units, Phantom Units, DERs and Performance Units granted hereunder and, if
applicable, in the number of Units covered by Other Awards granted pursuant to Section 9 hereof, in the Option Price and Base Price provided in outstanding Option Rights and Appreciation Rights, in the kind of units covered
thereby, and in Cash Incentive Awards as the Committee, in its sole discretion, exercised in good faith, may determine is equitably required to prevent dilution or enlargement of the rights of Participants or Optionees that otherwise would result
from (a) any recapitalization or other change in the capital structure of the Partnership, (b) any merger, 

  
 12 

 
consolidation, spin-off, split- off, spin-out, split-up, reorganization, partial or complete liquidation or other distribution of assets, issuance of rights or warrants to purchase securities, or
(c) any other transaction or event having an effect similar to any of the foregoing. Moreover, in the event of any such transaction or event or in the event of a Change in Control, the Committee, in its discretion, may provide in substitution
for any or all outstanding Awards under this Plan such alternative consideration (including cash), if any, as it, in good faith, may determine to be equitable in the circumstances and may require in connection therewith the surrender of all Awards
so replaced in a manner that complies with Section 409A of the Code. In addition, for each Option Right or Appreciation Right with an Option Price or Base Price greater than the consideration offered in connection with any such transaction or
event or Change in Control, the Committee may in its sole discretion elect to cancel such Option Right or Appreciation Right without any payment to the person holding such Option Right or Appreciation Right. The Committee will also make or provide
for such adjustments in the numbers of Units specified in Section 3 of this Plan as the Committee in its sole discretion, exercised in good faith, may determine is appropriate to reflect any transaction or event described in this
Section 11. 
 12. Non U.S. Participants. In order to facilitate the making of any grant or combination of grants under
this Plan, the Committee may provide for such special terms for Awards to Participants who are foreign nationals or who are employed by the Partnership, the Company or any of their Affiliates outside of the United States of America or who provide
services to the Partnership under an agreement with a foreign nation or agency, as the Committee may consider necessary or appropriate to accommodate differences in local law, tax policy or custom. Moreover, the Committee may approve such
supplements to or amendments, restatements or alternative versions of this Plan (including, without limitation, sub-plans) as it may consider necessary or appropriate for such purposes, without thereby affecting the terms of this Plan as in effect
for any other purpose, and the Secretary or other appropriate officer of the Partnership may certify any such document as having been approved and adopted in the same manner as this Plan. No such special terms, supplements, amendments or
restatements, however, will include any provisions that are inconsistent with the terms of this Plan as then in effect unless this Plan could have been amended to eliminate such inconsistency without further approval by the partners of the
Partnership. 
 13. Transferability. 

(a) Except as otherwise determined by the Committee, no Option Right, Appreciation Right, Restricted Unit, Phantom Unit, Performance Unit, Cash
Incentive Award, Other Award of this Plan or DER paid with respect to Awards made under this Plan will be transferable by the Participant except by will or the laws of descent and distribution, and in no event will any such Award granted under the
Plan be transferred for value. Except as otherwise determined by the Committee, Option Rights and Appreciation Rights will be exercisable during the Participant’s lifetime only by him or her or, in the event of the Participant’s legal
incapacity to do so, by his or her guardian or legal representative acting on behalf of the Participant in a fiduciary capacity under state law or court supervision. 

  
 13 

 (b) The Committee may specify at the Date of Grant that part or all of the Units that are
(i) to be issued or transferred by the Partnership upon the exercise of Option Rights or Appreciation Rights, upon the termination of the Restriction Period applicable to Restricted Units or upon payment under any grant of Phantom Units, Other
Awards, Cash Incentive Awards, DERs or Performance Units or (ii) no longer subject to the substantial risk of forfeiture and restrictions on transfer referred to in Section 6 of this Plan, will be subject to further
restrictions on transfer. 
 14. Withholding Taxes. To the extent that the Partnership is required to withhold federal, state, local
or foreign taxes in connection with any payment made or benefit realized by a Participant or other person under this Plan, and the amounts available to the Partnership for such withholding are insufficient, it will be a condition to the receipt of
such payment or the realization of such benefit that the Participant or such other person make arrangements satisfactory to the Partnership for payment of the balance of such taxes required to be withheld, which arrangements (in the discretion of
the Committee) may include relinquishment of a portion of such benefit. If a Participant’s benefit is to be received in the form of Units, and such Participant fails to make arrangements for the payment of tax, then, unless otherwise determined
by the Committee, the Partnership will withhold Units having a value equal to the amount required to be withheld. Notwithstanding the foregoing, when a Participant is required to pay the Partnership an amount required to be withheld under applicable
income and employment tax laws, the Participant may elect, unless otherwise determined by the Committee, to satisfy the obligation, in whole or in part, by having withheld, from the Awards required to be delivered to the Participant, Units having a
value equal to the amount required to be withheld (except in the case of Restricted Units where an election under Section 83(b) of the Code has been made), or by delivering to the Partnership other Units held by such Participant. The Units used
for tax withholding will be valued at an amount equal to the Market Value per Unit of such Units on the date the benefit is to be included in the Participant’s income. In no event will the Market Value per Unit of the Units to be withheld and
delivered pursuant to this Section to satisfy applicable withholding taxes in connection with the benefit exceed the minimum amount of taxes required to be withheld. Participants will also make such arrangements as the Partnership may require for
the payment of any withholding tax obligation that may arise in connection with the disposition of Units acquired upon the exercise of Option Rights. 

15. Compliance with Section 409A of the Code.  

(a) To the extent applicable, it is intended that this Plan and any grants made hereunder comply with the provisions of Section 409A of
the Code, so that the income inclusion provisions of Section 409A(a)(1) of the Code do not apply to the Participants. This Plan and any grants made hereunder will be administered in a manner consistent with this intent. Any reference in this
Plan to Section 409A of the Code will also include any regulations or any other formal guidance promulgated with respect to such Section by the U.S. Department of the Treasury or the Internal Revenue Service. 

(b) Neither a Participant nor any of a Participant’s creditors or beneficiaries will have the right to subject any deferred compensation
(within the meaning of Section 409A of the Code) payable under this Plan and grants hereunder to any anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or garnishment. Except as permitted under
Section 409A of the Code, any deferred compensation (within the meaning of Section 409A of the Code) payable to a Participant or for a Participant’s benefit under this Plan and grants hereunder may not be reduced by, or offset
against, any amount owing by a Participant to the Partnership or any of its Subsidiaries. 

  
 14 

 (c) If, at the time of a Participant’s separation from service (within the meaning of
Section 409A of the Code), (i) the Participant will be a specified employee (within the meaning of Section 409A of the Code and using the identification methodology selected by the Partnership from time to time) and (ii) the
Partnership makes a good faith determination that an amount payable hereunder constitutes deferred compensation (within the meaning of Section 409A of the Code) the payment of which is required to be delayed pursuant to the six-month delay rule
set forth in Section 409A of the Code in order to avoid taxes or penalties under Section 409A of the Code, then the Partnership will not pay such amount on the otherwise scheduled payment date but will instead pay it, without interest, on
the tenth business day of the seventh month after such separation from service. 
 (d) Notwithstanding any provision of this Plan and grants
hereunder to the contrary, in light of the uncertainty with respect to the proper application of Section 409A of the Code, the Partnership reserves the right to make amendments to this Plan and grants hereunder as the Partnership deems
necessary or desirable to avoid the imposition of taxes or penalties under Section 409A of the Code. In any case, a Participant will be solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on a
Participant or for a Participant’s account in connection with this Plan and grants hereunder (including any taxes and penalties under Section 409A of the Code), and neither the Partnership, Company nor any of their Affiliates will have any
obligation to indemnify or otherwise hold a Participant harmless from any or all of such taxes or penalties. 
 16. Amendments. 

(a) Except as required by applicable law or the rules of the principal securities exchange on which the Units are traded, the Board may at any
time and from time to time amend this Plan in whole or in part. 
 (b) If permitted by Section 409A of the Code, but subject to the
paragraph that follows, including in the case of termination of employment by reason of death, disability or retirement, or in the event of a Change in Control, to the extent a Participant holds an Option Right or Appreciation Right not immediately
exercisable in full, or any Restricted Units or Phantom Units as to which the substantial risk of forfeiture or the prohibition or restriction on transfer has not lapsed, or any Cash Incentive Awards or Performance Units which have not been fully
earned, or any Other Awards subject to any vesting schedule or transfer restriction, or who holds Units subject to any transfer restriction imposed pursuant to Section 13(b) of this Plan, the Committee may, in its sole discretion,
accelerate the time at which such Option Right, Appreciation Right or Other Award may be exercised or the time at which such substantial risk of forfeiture or prohibition or restriction on transfer with respect to a Restricted Unit or a Phantom Unit
will lapse or the time when such Restriction Period will end or the time at which such Cash Incentive Awards, Phantom Units or Performance Units will be deemed to have been fully earned or the time when such transfer restriction will terminate or
may waive any other limitation or requirement under any such Award. 

  
 15 

 Except as required by applicable law or the rules of the principal securities exchange on which
the Units are traded, the Committee may amend the terms of any Award theretofore granted under this Plan prospectively or retroactively. Subject to Section 11 above, no such amendment will impair the rights of any Participant
without his or her consent. The Board may, in its discretion, terminate this Plan at any time. Termination of this Plan will not affect the rights of Participants or their successors under any Awards outstanding hereunder and not exercised in full
on the date of termination. 
 17. Governing Law. This Plan and all grants and Awards and actions taken hereunder will be governed by
and construed in accordance with the internal substantive laws of the State of Delaware. 
 18. Miscellaneous Provisions. 

(a) The Partnership will not be required to issue any fractional Units pursuant to this Plan. The Committee may provide for the elimination of
fractions or for the settlement of fractions in cash. 
 (b) This Plan will not confer upon any Participant any right with respect to
continuance of employment or other service with the Partnership, the Company or their Affiliates, nor will it interfere in any way with any right the Partnership, the Company or any of their Affiliates would otherwise have to terminate such
Participant’s employment or other service at any time. 
 (c) No Award under this Plan may be exercised by the holder thereof if such
exercise, and the receipt of Units thereunder, would be, in the opinion of counsel selected by the Partnership, contrary to law or the regulations of any duly constituted authority having jurisdiction over this Plan. 

(d) Absence on leave approved by a duly constituted officer of the Partnership, the Company or any of their Affiliates will not be considered
interruption or termination of service of any employee for any purposes of this Plan or Awards granted hereunder. 
 (e) No Participant will
have any rights as a Unitholder with respect to any Units subject to Awards granted to him or her under this Plan prior to the date as of which he or she is actually recorded as the holder of such Units upon the records of the Partnership. 

(f) The Committee may condition the grant of any Award or combination of Awards authorized under this Plan on the surrender or deferral by the
Participant of his or her right to receive a cash bonus or other compensation otherwise payable by the Partnership, the Company or any of their Affiliates to the Participant. 

(g) Except with respect to Option Rights and Appreciation Rights, the Committee may permit Participants to elect to defer the issuance of Units
or the payment of cash under the Plan pursuant to such rules, procedures or programs as it may establish for purposes of this Plan and which are intended to comply with the requirements of Section 409A of the Code. The Committee also may
provide that deferred issuances and settlements include the payment or crediting of DERs or interest on the deferral amounts. 

  
 16 

 (h) If any provision of this Plan is or becomes invalid or unenforceable in any jurisdiction, or
would disqualify this Plan or any Award under any law deemed applicable by the Committee, such provision will be construed or deemed amended or limited in scope to conform to applicable laws or, in the discretion of the Committee, it will be
stricken and the remainder of this Plan will remain in full force and effect. 
 19. Unit-Based Awards in Substitution for Option Rights
or Awards Granted by Other Entity. Notwithstanding anything in this Plan to the contrary: 
 (a) Awards may be granted under this Plan in
substitution for or in conversion of, or in connection with equity-based awards held by awardees of an entity engaging in a corporate acquisition or merger transaction with the Partnership, the Company or any of their Affiliates. Any conversion,
substitution or assumption will be effective as of the close of the merger or acquisition, and, to the extent applicable, will be conducted in a manner that complies with Section 409A of the Code. The Awards so granted may reflect the original
terms of the awards being assumed or substituted or converted for and need not comply with other specific terms of this Plan, and may account for Units substituted for the securities covered by the original awards and the number of securities
subject to the original awards, as well as any exercise or purchase prices applicable to the original awards, adjusted to account for differences in prices in connection with the transaction. 

(b) In the event that an entity acquired by the Partnership, the Company or any of their Affiliates or with which the Partnership, the Company
or any of their Affiliates merges has securities available under a pre-existing plan previously approved by shareholders/partners and not adopted in contemplation of such acquisition or merger, the securities available for grant pursuant to the
terms of such plan (as adjusted, to the extent appropriate, to reflect such acquisition or merger) may be used for awards made after such acquisition or merger under the Plan; provided, however, that Awards using such available
securities may not be made after the date awards or grants could have been made under the terms of the pre-existing plan absent the acquisition or merger, and may only be made to individuals who were not employees or Directors of the Partnership,
the Company or any of their Affiliates prior to such acquisition or merger. 
 (c) Any Units that are issued or transferred by, or that are
subject to any Awards that are granted by, or become obligations of, the Partnership under Sections 19(a) or 19(b) above will not reduce the Units available for issuance or transfer under the Plan or otherwise count
against the limits contained in Section 3 of the Plan. In addition, no Units that are issued or transferred by, or that are subject to any Awards that are granted by, or become obligations of, the Partnership under Sections
19(a) or 19(b) above will be added to the aggregate Plan limit contained in Section 3 of the Plan. 

  
 17EX-10.1

 Exhibit 10.1 

AMENDED AND RESTATED 

EMPLOYMENT AGREEMENT 

THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into as of April 7, 2014, by and
between Acadia Management Company, Inc., a Delaware corporation (the “Company”), and Joey A. Jacobs (“Executive”). 

WHEREAS, the Company and the Executive are a party to that certain Employment Agreement, dated as of January 31, 2011 (the “Original
Employment Agreement”); and 
 WHEREAS, the Company and the Executive desire to amend and restate the Original Employment Agreement as
provided herein, effective as of the date hereof; 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein and other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1.
Employment; Employment Period. The Company shall employ Executive, and Executive hereby accepts employment with the Company, upon the terms and conditions set forth in this Agreement for the period beginning on the date hereof and ending on
the date on which Executive’s employment is terminated pursuant to Section 4 hereof (the “Employment Period”). The place of employment of Executive shall be the principal executive offices and corporate headquarters
of the Company and Acadia Healthcare Company, Inc., a Delaware corporation (“Acadia”), which, during the Employment Period, shall be located in Williamson County, Tennessee. 

2. Position and Duties. 

(a) Position; Responsibilities. During the Employment Period, Executive shall serve as the Chief Executive Officer of
the Company and shall have the normal duties, responsibilities, functions and authority of a chief executive officer, subject to the power and authority of the board of directors (the “Board”) of Acadia, to expand or limit such
duties, responsibilities, functions and authority within the scope of duties, responsibilities, functions and authority associated with the position of Chief Executive Officer and to overrule actions of officers of the Company. During the Employment
Period, Executive shall be Chairman of the Board. 
 (b) Reporting; Performance of Duties. Executive shall report to
the Board and devote his full business time and attention (except for permitted vacation periods and reasonable periods of illness or other incapacity) to the business and affairs of Acadia and the Subsidiaries. So long as Executive is employed by
the Company, Executive shall not, without the prior written consent or approval of the Board, perform other services for compensation. Notwithstanding the foregoing, nothing herein shall preclude Executive from (i) serving, with the prior
written consent of the Board, as a member of the boards of directors or advisory boards (or their equivalents in the case of a non-corporate entity) of for-profit companies or businesses which are not directly competitive with the Company or any
Subsidiary (provided that the prior written consent of the Board shall not be required for Executive to serve as a member of the boards of directors or advisory boards (or their equivalents) of the companies listed on Schedule 2(b)),
(ii) engaging in charitable activities 

 
and community affairs (including serving as a member of the boards of directors or advisory boards (or their equivalents in the case of a non-corporate entity) of not-for-profit, charitable or
community organizations which are not directly competitive with the Company or any Subsidiary); provided, however, the activities set out in clauses (i) and (ii) above shall be limited by Executive so as not to materially interfere,
individually or in the aggregate, with the performance of his duties and responsibilities hereunder. For the avoidance of doubt, so long as Executive is employed by the Company, Executive shall not provide any services to any company or business
that is directly competitive with Acadia or the Subsidiaries (whether for-profit or not-for-profit) without the prior written consent of the Board. 

3. Compensation and Benefits. 

(a) Base Salary. During the Employment Period, Executive’s base salary shall be $1,000,000 per annum, subject to
increase by the Board or Acadia’s Compensation Committee (the “Compensation Committee”) in its sole discretion on an annual basis (as adjusted from time to time, the “Base Salary”), which salary shall be payable by
the Company in regular installments in accordance with the Company’s general payroll practices (as in effect from time to time). The Base Salary for any partial year during the Employment Period will be based upon the actual number of days
elapsed in such year. 
 (b) Business Expenses. During the Employment Period, the Company shall reimburse Executive in
the calendar year in which they are incurred for all reasonable out-of-pocket business expenses incurred by him in the course of performing his duties and responsibilities under this Agreement which are consistent with the Company’s policies in
effect from time to time with respect to travel, entertainment and other business expenses, subject to the Company’s requirements with respect to reporting and documentation of such expenses. 

(c) Bonus. In addition to the Base Salary, during each calendar year of the Employment Period beginning with the year
ending December 31, 2014, Executive will be eligible to earn a target annual cash bonus of not less than 110% of the Base Salary and up to a maximum cash bonus equal to two (2) times the target annual cash bonus for such year, if and only
if Executive, Acadia and the Subsidiaries achieve the performance criteria specified by the Board or the Compensation Committee for such year, as determined by the Board or the Compensation Committee in its sole discretion. Unless otherwise agreed
to by Executive, any such bonus amount for any year shall be earned (if awarded) on the last day of such year and paid by the Company in the calendar year following the calendar year to which such bonus has been earned and no later than the earlier
of (x) the date that is ten (10) business days after the Company’s receipt of its audited financial statements for the calendar year with respect to which such bonus has been earned and (y) December 31 of the calendar year
following such year with respect to which such bonus has been earned. 
 (d) Long-Term Incentive Compensation.
Executive will be entitled to a long-term incentive award in 2014 that will have a value equal to not less than 340% of the Base Salary (such value to be determined on the same basis as the Committee values such awards generally) and shall be in a
form and on terms consistent with the long-term incentive awards for other senior executives of the Company granted in 2014. Thereafter, the Executive shall be eligible for annual grants of equity awards or other long-term incentive awards in
amounts as determined by the Committee and on terms and conditions comparable to the Company’s other senior executives. 

 (e) Benefits. In addition to (but without duplication of) the Base Salary
and any bonuses payable to Executive pursuant to this Section 3, Executive shall be entitled to participate at his sole discretion in all of the Company’s employee benefit programs for which senior executive employees of the Company
are generally eligible. 
 4. Termination. 

(a) Termination. The Employment Period shall terminate automatically and immediately upon Executive’s resignation
for any reason (whether with Good Reason or without Good Reason), Executive’s death or becoming Disabled, or upon the termination of Executive’s employment by the Company (through action by the Board) for any reason (whether for Cause or
without Cause). The date on which Executive ceases to be employed by the Company is referred to herein as the “Termination Date.” 

(b) Termination without Cause or with Good Reason. If the Employment Period is terminated by the Company without Cause
or by Executive with Good Reason, then Executive shall be entitled to receive: 
 (i) Executive’s unpaid Base Salary
through the Termination Date (payable in accordance with Section 3(a)); 
 (ii) an amount equal to the actual
annual cash bonus amount to which Executive would be entitled under Section 3(c) with respect to the calendar year in which the Termination Date occurs, determined based on achievement of the performance objectives specified in
Executive’s bonus plan for such year, as determined by the Board or the Compensation Committee in its sole discretion (provided such discretion would not have resulted in the payment failing to be considered performance-based compensation under
Code Section 162(m) if the Executive were a covered employee), which amount shall be prorated based on the actual number of days elapsed in such year prior to the Termination Date (payable at the same time it would have been paid pursuant to
Section 3(c)); 
 (iii) an amount equal to three (3) times the target annual cash bonus amount to which
Executive would be entitled under Section 3(c) with respect to the calendar year in which the Termination Date occurs, determined as if Executive, Acadia and the Subsidiaries have achieved all of the performance objectives specified in
Executive’s bonus plan for such year at the target level, whether or not such objectives actually have been achieved as of the Termination Date (payable in a lump sum within ten (10) business days after the Termination Date); 

(iv) an amount equal to thirty-six (36) months of Executive’s Base Salary as in effect on the Termination Date (such
36-month period, the “Severance Period”), (payable in a lump sum within ten (10) business days after the Termination Date); 

(v) payment in respect of any unused paid time off and sick pay of Executive in such amounts as have accrued as of the
Termination Date in accordance 

 
with the Company’s policies with respect thereto as in effect during the Employment Period, and reimbursement of any business expenses incurred by Executive but not reimbursed prior to the
Termination Date in accordance with and reimbursable under the terms of the Company’s policies with respect thereto as in effect on the Termination Date (in each case, payable in a lump sum within ten (10) business days after the
Termination Date); 
 (vi) an amount equal to the cost of the premiums for continued health and dental insurance for
Executive and/or Executive’s dependents in accordance with the Consolidated Budget Reconciliation Act of 1985 (“COBRA”) for the period commencing on the Termination Date and ending on the date on which the Severance Period
expires (payable in monthly installments during and concurrently with Executive’s COBRA period); provided that if Executive’s COBRA period is terminated or expires prior to expiration of the Severance Period, then Executive shall be
entitled to continue to receive an amount equal to the cost of the premiums for continued health and dental insurance for Executive and/or Executive’s dependents in accordance with COBRA (assuming such continued insurance coverage remained
available at the same monthly cost) for the period commencing on the date of such termination or expiration and ending on the date on which the Severance Period expires; 

(vii) cause each stock option of Executive, to the extent that it shall not otherwise have become vested and exercisable, to
automatically become fully and immediately vested and exercisable, without regard to any otherwise applicable vesting requirement; and 

(viii) cause each restricted stock or other equity-based award of Executive, to the extent that it shall not otherwise have
become vested and exercisable, to automatically become fully and immediately vested and exercisable, without regard to any otherwise applicable vesting requirement, and all forfeiture and transfer restrictions thereon shall lapse. Notwithstanding
the above, in the case of an equity-based incentive other than an option or stock appreciation right (e.g., a grant of performance-based shares) where such incentive was intended to qualify as performance-based compensation under Code
Section 162(m), the forfeiture restrictions related to pre-established goals shall not lapse until the results of the related goals have been determined and certified by the Compensation Committee. 

Notwithstanding the foregoing, Executive shall be entitled to receive such payments only so long as Executive has not breached any of the provisions of
Sections 5, 6 and 7 hereof. 
 Notwithstanding any other payment schedule provided herein to the contrary, if Executive is deemed on the Termination
Date to be a “specified employee” within the meaning of that term under Code Section 409A(a)(2)(B), then any payment that is considered deferred compensation under Code Section 409A payable on account of a “separation from
service” shall be made on the date which is the earlier of (i) the expiration of the six (6)-month period measured from the date of such “separation from service” of Executive and (ii) the date of Executive’s death (the
“Delay Period”) to the extent required under Code Section 409A. Upon the expiration of the Delay Period, all payments delayed pursuant to the immediately preceding sentence (whether they otherwise would have been payable in a
single sum or in installments in the absence of such delay) shall be paid to Executive in 

 
a lump sum, and all remaining payments due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. In addition, if Executive is a
“specified employee,” to the extent that welfare benefits to be provided to Executive pursuant to this Agreement are not “disability pay,” “death benefit” plans or non-taxable medical benefits within the meaning of
Treasury Regulation Section 1.409A-1(a)(5) or other benefits not considered nonqualified deferred compensation within the meaning of that regulation, such provision of benefits shall be delayed until the end of the Delay Period. Notwithstanding
the foregoing, to the extent that the previous sentence applies to the provision of any ongoing health or welfare benefits that would not be required to be delayed if the premiums were paid by Executive, Executive shall pay the full cost of the
premiums for such benefits during the Delay Period and the Company shall pay Executive an amount equal to the amount of such premiums paid by Executive during the Delay Period within ten (10) days after the end of Delay Period. 

(c) Termination by Death or Disability. If the Employment Period is terminated due to Executive’s death or becoming
Disabled, then Executive (or his estate or beneficiary) shall be entitled to receive: 
 (i) Executive’s unpaid Base
Salary through the Termination Date (payable in accordance with Section 3(a)); 
 (ii) an amount equal to the
actual annual cash bonus amount to which Executive would be entitled under Section 3(c) with respect to the calendar year in which the Termination Date occurs, determined based on achievement of the performance objectives specified in
Executive’s bonus plan for such year, as determined by the Board or the Compensation Committee in its sole discretion, which amount shall be prorated based on the actual number of days elapsed in such year prior to the Termination Date (payable
at the same time it would have been paid pursuant to Section 3(c)); 
 (iii) payment in respect of any unused
paid time off and sick pay of Executive in such amounts as have accrued as of the Termination Date in accordance with the Company’s policies with respect thereto as in effect during the Employment Period, and reimbursement of any business
expenses incurred by Executive but not reimbursed prior to the Termination Date in accordance with and reimbursable under the terms of the Company’s policies with respect thereto as in effect on the Termination Date (in each case, payable in a
lump sum within ten (10) business days after the Termination Date); 
 (iv) an amount equal to the cost of the premiums
for continued health and dental insurance for Executive and/or Executive’s dependents in accordance with COBRA for the period commencing on the Termination Date and ending on the earliest of (A) the date on which Executive’s COBRA
period terminates or expires, (B) six (6) months after the Termination Date, and (C) the date on which Executive becomes eligible for long-term disability benefits under any long-term disability program sponsored by the Company
(payable in monthly installments during and concurrently with Executive’s COBRA period); provided that if Executive’s COBRA period is terminated prior to expiration of the period commencing on the Termination Date and ending on the earlier
of (I) the date on which Executive becomes eligible for long-term disability benefits under any long-term disability program sponsored by the 

 
Company, and (II) six (6) months after the Termination Date (such period, the “Disability Severance Period”), then Executive shall be entitled to continue to receive an
amount equal to the cost of the premiums for continued health and dental insurance for Executive and/or Executive’s dependents in accordance with COBRA (assuming such continued insurance coverage remained available at the same monthly cost)
payable in monthly installments during the period commencing on the date of such termination or expiration and ending on the date on which the Disability Severance Period expires; 

(v) cause each stock option of Executive, to the extent that it shall not otherwise have become vested and exercisable, to
automatically become fully and immediately vested and exercisable, without regard to any otherwise applicable vesting requirement; and 

(vi) cause each restricted stock or other equity-based award of Executive, to the extent that it shall not otherwise have
become vested and exercisable, to automatically become fully and immediately vested and exercisable, without regard to any otherwise applicable vesting requirement, and all forfeiture and transfer restrictions thereon shall lapse. Notwithstanding
the above, in the case of an equity-based incentive other than an option or stock appreciation right (e.g., a grant of performance-based shares) where such incentive was intended to qualify as performance-based compensation under Code
Section 162(m), the forfeiture restrictions related to pre-established goals shall not lapse until the results of the related goals have been determined and certified by the Compensation Committee. 

In addition, if the Employment Period is terminated due to Executive’s becoming Disabled (but, for the avoidance of doubt, not due to his death), then
Executive (or his estate or beneficiary) shall be entitled to receive, during the Disability Severance Period, continued installment payments of Executive’s Base Salary as in effect on the Termination Date, which shall be payable over the
Disability Severance Period in regular installments in accordance with the Company’s general payroll practices as in effect on the Termination Date, but in no event less frequently than monthly. 

(d) Other Termination. If the Employment Period is terminated (i) by the Company for Cause, or (ii) by
Executive’s resignation without Good Reason, then the Company shall pay Executive (A) Executive’s unpaid Base Salary through the Termination Date (payable in accordance with Section 3(a)) and (B) any bonus amount
under Section 3(c) to which Executive is entitled determined by reference to the calendar year that ended on or prior to the Termination Date (payable at the same time it would have been paid pursuant to Section 3(c)). 

(e) Interest. Without limiting the rights of Executive at law or in equity, if the Company fails to make any payment
required to be made hereunder on a timely basis, the Company will pay interest on the amount thereof at an annualized rate of interest equal to the so-called composite “prime rate” as quoted from time to time during the relevant period in
The Wall Street Journal. Such interest will be payable as it accrues on demand. Any change in such prime rate will be effective on and as of the date of such change. 

(f) Continuation of Benefits. Upon any termination of employment, whether voluntary or otherwise, Executive shall have
the option to elect health insurance coverage for 

 
himself, his spouse and his eligible dependents during the period commencing on the end of the statutory COBRA period, if any (provided that Executive validly elected COBRA continuation
coverage), until the earliest of the date on which Executive (A) is eligible to participate in another health benefit plan (including, without limitation, a plan sponsored by a then current or former employer of Executive’s or
Executive’s spouse, other than a plan that provides for “excepted benefits” as defined under section 733(c) of the Employee Retirement Income Security Act of 1974) or (B) becomes eligible for Medicare. Such coverage will be
provided for by the Company (or any successor to the Company, whether by operation of law or otherwise) in accordance with applicable law, and Executive shall pay premiums consistent with other senior executive employees of the Company (or any
successor to the Company, whether by operation of law or otherwise). Executive agrees to take all required actions and provide any requested personal medical history and information, in accordance with the applicable policy application and medical
underwriting process. 
 (g) No Mitigation. Executive is under no obligation to mitigate damages or the amount of any
payment provided for under this Section 4 by seeking other employment or otherwise. 
 (h) Right of
Offset. The Company may offset any bona fide obligations that Executive owes Acadia or any of the Subsidiaries (which for the avoidance of doubt shall not include any unliquidated obligations or obligations to the extent Executive disputes in
good faith the nature or amount thereof) against any amounts the Company or any of the Subsidiaries owes Executive hereunder; provided that, notwithstanding the foregoing or any other provision of this Agreement to the contrary, in no event shall
any payment under this Agreement that constitutes “deferred compensation” for purposes of Code Section 409A be subject to offset, counterclaim or recoupment by any other amount unless otherwise permitted by Code Section 409A.

 (i) Section 409A Compliance. 

(i) The intent of the parties is that payments and benefits under this Agreement comply with Internal Revenue Code
Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith.
In no event whatsoever shall Acadia or any of the Subsidiaries be liable for any additional tax, interest or penalty that may be imposed on Executive by Code Section 409A or damages for failing to comply with Code Section 409A. 

(ii) A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing
for the payment of any amounts or benefits upon or following a termination of employment unless such termination is also a “separation from service” within the meaning of Code Section 409A and, for purposes of any such provision of
this Agreement, references to a “termination,” “termination of employment,” “termination of the Employment Period” or like terms shall mean “separation from service.” 

(iii) All expenses or other reimbursements under this Agreement shall be made on or prior to the last day of the taxable year
following the taxable year in 

 
which such expenses were incurred by Executive (provided that if any such reimbursements constitute taxable income to Executive, such reimbursements shall be paid no later than March 15th of
the calendar year following the calendar year in which the expenses to be reimbursed were incurred), and no such reimbursement or expenses eligible for reimbursement in any taxable year shall in any way affect the expenses eligible for reimbursement
in any other taxable year. 
 (iv) For purposes of Code Section 409A, Executive’s right to receive any installment
payment pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments. 
 (v)
Whenever a payment under this Agreement specifies a payment period with reference to a number of days (e.g., “payment shall be made within fifteen (15) days following the Termination Date”), the actual date of payment within the
specified period shall be within the sole discretion of the Company. 
 5. Confidential Information. 

(a) Protection of Confidential Information. Executive acknowledges that the continued success of Acadia and the
Subsidiaries depends upon the use and protection of a large body of confidential and proprietary information. All of such confidential and proprietary information now existing or to be developed in the future will be referred to in this Agreement as
“Confidential Information.” Confidential Information will be interpreted broadly to include, without limitation, all information that is (i) related to Acadia’s or the Subsidiaries’ (including any of their
predecessors’ prior to being acquired by the Company) current or potential business and (ii) is not generally or publicly known (including, without specific limitation, the information, observations and data concerning (A) acquisition
opportunities in or reasonably related to Acadia’s or the Subsidiaries’ business or industry, (B) identities and requirements of, contractual arrangements with and other information regarding Acadia’s or the Subsidiaries’
employees (including personnel files and other information), suppliers, distributors, customers, independent contractors, third-party payors, providers or other business relations and their confidential information, including, without limitation,
patient records, medical histories and other information concerning patients (including, without limitation, all “Protected Health Information” within the meaning of the Health Insurance Portability and Accountability Act), and
(C) internal business information and intellectual property of every kind and description of Acadia and the Subsidiaries). Executive agrees that during the Employment Period and for five (5) years thereafter, he shall not disclose to any
unauthorized person or use for his own account any of such Confidential Information, whether or not developed by Executive, without the Board’s prior written consent, unless and to the extent that any Confidential Information (i) was known
to Executive prior to the negotiation of this Agreement or the Employment Period from a source (other than Acadia, the Subsidiaries or any of their respective agents) that, to the knowledge of Executive, was not prohibited from disclosing such
information by a legal, contractual or fiduciary obligation to Acadia or any of the Subsidiaries, (ii) becomes generally known to and available for use by the public other than as a result of Executive’s acts or omissions to act or
(iii) is required to be disclosed pursuant to any applicable law or court order. 

 (b) Use of Others’ Confidential Information. During the Employment
Period, Executive shall not use or disclose any confidential information or trade secrets, if any, of any former employers or any other Person to whom Executive has an obligation of confidentiality. If at any time during his employment with the
Company, Executive believes he is being asked to engage in work that will, or will be likely to, jeopardize any confidentiality or other obligations Executive may have to former employers, then Executive shall immediately advise the Board so that
Executive’s duties can be modified appropriately. 
 (c) Third-Party Information. Executive understands that
Acadia and the Subsidiaries will receive from third parties confidential or proprietary information (“Third-Party Information”) subject to a duty on Acadia’s and the Subsidiaries’ part to maintain the confidentiality of
such information and to use it only for certain limited purposes. During the Employment Period and thereafter, and without in any way limiting the provisions of Section 5(a) above, Executive will hold Third-Party Information in the
strictest confidence and will not disclose to anyone (other than personnel of Acadia or the Subsidiaries who need to know such information in connection with their work for Acadia or the Subsidiaries) or use, except in connection with his work for
Acadia or the Subsidiaries, Third-Party Information unless expressly authorized by the Board in writing. 
 6. Ownership of Intellectual
Property, Inventions and Patents. Executive acknowledges that all discoveries, concepts, ideas, inventions, innovations, improvements, developments, methods, processes, programs, designs, analyses, drawings, reports, patent applications,
copyrightable work and mask work (whether or not including any confidential information) and all registrations or applications related thereto, all other proprietary information and all similar or related information (whether or not patentable)
which relate to Acadia’s or the Subsidiaries’ actual or anticipated business, research and development or existing or future products or services and which are conceived, developed, contributed to, made or reduced to practice by Executive
(whether alone or jointly with others) while employed by Acadia or the Subsidiaries after the date of this Agreement, including any of the foregoing that constitutes any proprietary information or records (“Work Product”), belong to
Acadia or such Subsidiary. Any copyrightable work prepared in whole or in part by Executive in the course of his work for any of the foregoing entities shall be deemed a “work made for hire” to the maximum extent permitted under copyright
laws, and Acadia or such Subsidiary shall own all rights therein. To the extent any such copyrightable work is not a “work made for hire,” Executive hereby assigns and agrees to assign to Acadia or such Subsidiary all right, title and
interest, including, without limitation, copyright, in and to such copyrightable work. Executive shall promptly disclose such Work Product to the Board and, at the Company’s expense, perform all actions reasonably requested by the Board
(whether during or after the Employment Period) to establish and confirm such ownership by Acadia or such Subsidiary (including, without limitation, execution and delivery of assignments, consents, powers of attorney and other instruments). 

7. Non-Compete; Non-Solicit. 

(a) Non-Compete. In further consideration of the compensation to be paid to Executive hereunder, Executive acknowledges
that during the course of his employment with the Company he has and shall become familiar with Acadia’s and the Subsidiaries’ trade secrets and with other Confidential Information concerning Acadia and the Subsidiaries and that his
services have been and shall be of special, unique and extraordinary value to Acadia and the Subsidiaries, and, therefore, Executive agrees that, during the Employment Period 

 
and for a period thereafter of thirty-six (36) months (the “Noncompete Period”), he shall not (i) directly or indirectly own any interest in, manage, control,
participate in, consult with, render services for, or in any manner engage in any business that derives at least 25% of its gross revenue from the business of providing behavioral healthcare and/or related services or (ii) directly or
indirectly manage, control, participate in, consult with or render services specifically with respect to any unit, division, segment or subsidiary of any other business that engages in or otherwise competes with (or was organized for the purpose of
engaging in or competing with) the business of providing behavioral healthcare and/or related services (provided that, this clause (ii) shall not be construed to prohibit Executive from directly or indirectly owning any interest in, managing,
controlling, participating in, consulting with, rendering services for, or in any manner engaging in any business activities with or for such business generally and, for the avoidance of doubt, not specifically with respect to such unit, division,
segment or subsidiary), in each case, within any geographical area in which Acadia and the Subsidiaries engage in such businesses; provided that Executive shall not be subject to the restrictions set forth in this Section 7(a) if the
Employment Period is terminated by the Company without Cause or by Executive with Good Reason and for so long as the Company is in breach of its obligations under Section 4(b) and such breach is not the subject of a good faith dispute
between the Company and Executive. For purposes of this Agreement, the term “participate in” shall include, without limitation, having any direct or indirect interest in any Person, whether as a sole proprietor, owner, stockholder,
partner, joint venturer, creditor or otherwise, or rendering any direct or indirect service or assistance to any individual, corporation, partnership, joint venture and other business entity (whether as a director, officer, manager, supervisor,
employee, agent, consultant or otherwise). Nothing herein shall prohibit Executive from being a passive owner of not more than 2% of the outstanding stock of any class of a corporation which is publicly traded, so long as Executive has no active
participation in the business of such corporation. 
 (b) Non-Solicit. During the Employment Period and for a period
thereafter of thirty-six (36) months (the “Nonsolicit Period”), Executive shall not directly or indirectly through another Person (other than on behalf of Acadia and the Subsidiaries) (i) induce or attempt to induce any
employee or independent contractor of Acadia or the Subsidiaries to leave the employ or services of Acadia or the Subsidiaries, or in any way interfere with the relationship between Acadia and the Subsidiaries and any employee or independent
contractor thereof, (ii) hire or seek any business affiliation with any person who was an employee or independent contractor of Acadia or the Subsidiaries at any time during the twelve (12) months prior to the Termination Date or
(iii) induce or attempt to induce any customer, supplier, licensee, licensor or other business relation of Acadia or any Subsidiary to cease doing business with Acadia or such Subsidiary or interfere with the relationship between any such
customer, supplier, licensor or other business relation and Acadia or any Subsidiary; provided that Executive shall not be subject to the restrictions set forth in this Section 7(b) if the Employment Period is terminated by the Company
without Cause or by Executive with Good Reason and for so long as the Company is in breach of its obligations under Section 4(b) and such breach is not the subject of a good faith dispute between the Company and Executive. 

(c) Non-Disparagement. Without limiting any other obligation of Executive pursuant to this Agreement, Executive hereby
covenants and agrees that, except as may be required by applicable law, Executive shall not make any statement, written or verbal, in any forum or media, or take any other action in disparagement of Acadia or any of its

 
Subsidiaries, during the Employment Period and for a period of five (5) years thereafter (the “Non-Disparagement Period”). Without limiting any other obligation of Acadia and its
subsidiaries pursuant to this Agreement, Acadia hereby covenants and agrees that, except as may be required by applicable law, Acadia shall cause its executive officers and members of its board of directors not to make any statement, written or
verbal, in any forum or media, or take any other action in disparagement of Executive, during the Employment Period and the Non-Disparagement Period. 

(d) Blue-Pencil. If, at the time of enforcement of Section 5 or 6 or this Section 7, a
court shall hold that the duration, scope or area restrictions stated herein are unreasonable under circumstances then existing, the parties agree that the maximum duration, scope or area reasonable under such circumstances shall be substituted for
the stated duration, scope or area and that the court shall be allowed to revise the restrictions contained herein to cover the maximum duration, scope and area permitted by law. Executive hereby acknowledges and represents that he has either
consulted with independent legal counsel regarding his rights and obligations under this Agreement or knowingly and voluntarily waived the opportunity to do so and that he fully understands the terms and conditions contained herein. 

(e) Additional Acknowledgments. Executive acknowledges that the provisions of Sections 5 and 6 and this
Section 7 are in consideration of Executive’s employment with the Company and other good and valuable consideration as set forth in this Agreement. In addition, Executive agrees and acknowledges that the restrictions contained in
Sections 5 and 6 and this Section 7 do not preclude Executive from earning a livelihood, nor do they unreasonably impose limitations on Executive’s ability to earn a living. In addition, Executive acknowledges
(x) that the business of Acadia and the Subsidiaries will be conducted throughout the United States and its territories and beyond, (y) notwithstanding the state of organization or principal office of Acadia or any of the Subsidiaries or
facilities, or any of their respective executives or employees (including Executive), it is expected that Acadia and the Subsidiaries will have business activities and have valuable business relationships within its industry throughout the United
States and its territories and beyond, and (z) as part of Executive’s responsibilities, Executive will be traveling throughout the United States and other jurisdictions where Acadia and the Subsidiaries conduct business during the
Employment Period in furtherance of the Company’s business relationships. Executive agrees and acknowledges that the potential harm to Acadia and the Subsidiaries of the non-enforcement of any provision of Sections 5 and 6 and
this Section 7 outweighs any potential harm to Executive of its enforcement by injunction or otherwise. Executive acknowledges that he has carefully read this Agreement and either consulted with legal counsel of Executive’s choosing
regarding its contents or knowingly and voluntarily waived the opportunity to do so, has given careful consideration to the restraints imposed upon Executive by this Agreement and is in full accord as to their necessity for the reasonable and proper
protection of confidential and proprietary information of Acadia and the Subsidiaries now existing or to be developed in the future. Executive expressly acknowledges and agrees that each and every restraint imposed by this Agreement is reasonable
with respect to subject matter, duration and geographical area. 
 (f) Specific Performance. In the event of the
breach or a threatened breach by Executive of any of the provisions of Section 5 or 6 or this Section 7, Acadia and the Subsidiaries would suffer irreparable harm and that money damages would not be a sufficient remedy
and, in addition and supplementary to other rights and remedies existing in its favor 

 
whether under this Agreement or under any other agreement, the Company shall be entitled to specific performance and/or injunctive or other equitable relief from a court of competent jurisdiction
in order to enforce or prevent any violations of the provisions hereof (without posting a bond or other security). In addition, in the event of an alleged breach or violation by Executive of this Section 7, the Noncompete Period or the
Nonsolicit Period, as applicable, shall be tolled until such breach or violation has been duly cured. 
 8. Executive’s
Representations. Executive hereby represents and warrants to the Company that (a) the execution, delivery and performance of this Agreement by Executive do not and shall not conflict with, breach, violate or cause a default under any
contract, agreement, instrument, order, judgment or decree to which Executive is a party or by which he is bound, (b) except as previously disclosed to the Company in writing (a copy of each such agreement having been provided to the Company
prior to the date hereof or being publicly available on EDGAR as of the date hereof), Executive is not a party to or bound by any employment agreement, noncompete agreement or confidentiality agreement with any other person or entity,
(c) except as previously disclosed to the Company in writing, Executive took nothing with him which belonged to any former employer when Executive left his prior position and Executive has nothing that contains any information which belongs to
any former employer, in either case which would reasonably be likely to result in any liability to Acadia or any Subsidiary, and (d) upon the execution and delivery of this Agreement by the Company, this Agreement shall be the valid and binding
obligation of Executive, enforceable in accordance with its terms. Executive hereby acknowledges and represents that he has either consulted with independent legal counsel regarding his rights and obligations under this Agreement or knowingly and
voluntarily waived the opportunity to do so and that he fully understands the terms and conditions contained herein. 
 9.
Definitions. For purposes of this Agreement, the following terms shall have the meanings set forth below: 
 “Cause”
shall mean with respect to Executive one or more of the following: (i) the conviction of or plea of nolo contendere to a felony or other crime involving moral turpitude or the conviction of any crime involving misappropriation, embezzlement or
fraud with respect to Acadia or any of the Subsidiaries or any of their customers, suppliers or other business relations, (ii) conduct outside the scope of Executive’s duties and responsibilities under this Agreement that causes Acadia or
any of the Subsidiaries substantial public disgrace or disrepute or economic harm, (iii) repeated failure to perform duties consistent with this Agreement as reasonably directed by the Board, (iv) any act or knowing omission aiding or
abetting a competitor, supplier or customer of Acadia or any of the Subsidiaries to the disadvantage or detriment of Acadia and the Subsidiaries, (v) breach of fiduciary duty, gross negligence or willful misconduct with respect to Acadia or any
of the Subsidiaries, (vi) an administrative or other proceeding results in the suspension or debarment of Executive from participation in any contracts with, or programs of, the United States or any of the fifty states or any agency or
department thereof, or (vii) any other material breach by Executive of this Agreement or any other agreement between Executive and Acadia or any of the Subsidiaries, which is not cured to the Board’s reasonable satisfaction within thirty
(30) days after written notice thereof to Executive. 
 “Change in Control” means the occurrence of one or more of the
following events: 
 (a) the acquisition by any one person, or more than one person acting as a group (other than any
person or more than one person acting as a group who is considered to own more 

 
than fifty percent (50%) of the total fair market value or total voting power of Acadia prior to such acquisition) of stock of Acadia that, together with stock held by such person or group,
constitutes more than fifty percent (50%) of the total fair market value or total voting power of the stock of Acadia or the Company, as applicable; 

(b) during any twelve-month period, the date individuals who at the beginning of such period constitute the Board, and any
new director (other than a director designated by a person who has entered into an agreement with the Company to effect a transaction described in paragraph (a), (c), or (d) of this “Change in Control” definition or a director whose
initial assumption of office occurs as a result of either an actual or threatened election contest (as such term is used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act) or other actual or threatened solicitation of
proxies or consents by or on behalf of a person other than the Board) whose election by the Board or nomination for election by Acadia’s stockholders was approved by a vote of at least two-thirds of the directors then still in office who either
were directors at the beginning of the twelve-month period or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority of the Board; 

(c) within any twelve-month period, the acquisition by any one person, or more than one person acting as a group, of
ownership of stock of Acadia possessing thirty percent (30%) or more of the total voting power of the stock of Acadia; or 

(d) within any twelve-month period, the acquisition by any one person, or more than one person acting as a group, of the
assets of Acadia that have a total gross fair market value of forty percent (40%) or more of the total gross fair market value of all of the assets of Acadia immediately before such acquisition or acquisitions; provided, however, that transfers
to the following entities or person(s) shall not be deemed to result in a Change in Control under this subsection (d): 
 (I)
an entity that is controlled by the shareholders of Acadia immediately after the transfer; 
 (ii) a shareholder (determined
immediately before the asset transfer) of Acadia in exchange for or with respect to its stock; 
 (iii) an entity, fifty
percent (50%) or more of the total value or voting power of which is owned, directly or indirectly, by Acadia; 
 (iv) a
person, or more than one person acting as a group, that owns, directly or indirectly, fifty percent (50%) or more of the total value or voting power of all the outstanding stock of Acadia; or 

(v) an entity, at least fifty percent (50%) of the total value or voting power of which is owned, directly or indirectly,
by a person described in the above subsection (d) (IV). 

 Notwithstanding the foregoing, a merger or consolidation effected to implement a
recapitalization of Acadia (or similar transaction) in which no person (other than Acadia, any trustee or other fiduciary holding securities under any employee benefit plan of Acadia, or any company owned, directly or indirectly, by the shareholders
of Acadia in substantially the same proportions as their ownership of shares of Acadia) acquires more than 50% of the combined voting power of the Company’s then-outstanding securities shall not constitute a Change in Control of Acadia. For
purposes of this Agreement, “person” shall have the same meaning as in Sections 13(d) and 14(d) of the Exchange Act; and persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger,
consolidation, purchase or acquisition of stock, or similar business transaction with Acadia. 
 “Disabled” shall mean with
respect to Executive that, as a result of his incapacity due to physical or mental illness, Executive is considered disabled under the Company’s long-term disability insurance plans or, in the absence of such plans, Executive is unable to
perform the essential duties, responsibilities and functions of his position with the Company as a result of any mental or physical disability or incapacity even with reasonable accommodations of such disability or incapacity provided by Acadia and
the Subsidiaries or if providing such accommodations would be unreasonable, all as determined by the Board in its good faith judgment. Executive shall cooperate in all respects with the Company if a question arises as to whether he has become
Disabled (including, without limitation, submitting to an examination by a medical doctor or other health care specialists selected by the Company and authorizing such medical doctor or such other health care specialist to discuss Executive’s
condition with the Company). 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Good Reason” shall mean if Executive resigns his employment with the Company as a result of one or more of the following
actions (in each case taken without Executive’s written consent): (i) a reduction in Executive’s Base Salary (other than as part of an across-the-board reduction that (A) results in a 10% or less reduction of Executive’s
Base Salary as in effect on the date of any such reduction or (B) is approved by the Chief Executive Officer of the Company), (ii) a material diminution of Executive’s job duties or responsibilities inconsistent with Executive’s
position, which shall include, without limitation, Executive’s removal from the position specified in Section 2(a) or the Company’s hiring an individual at an equivalent or senior level to Executive to perform substantially the
same duties and responsibilities set forth in Section 2(a)); (iii) any other material breach by the Company or Acadia (or their successors) of this Agreement; or (iv) a relocation of the Company’s and Acadia’s
principal executive offices and corporate headquarters outside of a thirty (30) mile radius of Nashville, Tennessee; provided that, none of the events described in clauses (i) through (iv) above shall constitute Good Reason unless
Executive shall have notified the Company and/or Acadia in writing describing the event which constitutes Good Reason within ninety (90) days after the occurrence of such event and then only if the Company and/or Acadia and the Subsidiaries
shall have failed to cure such event within thirty (30) days after the Company’s and/or Acadia’s receipt of such written notice and Executive elects to terminate his employment as a result at the end of such thirty (30) day
period. 
 “Person” shall mean an individual, a partnership, a corporation (whether or not for profit), a limited liability
company, an association, a joint stock company, a trust, a joint venture, or other business entity, an unincorporated organization and a governmental entity or any department, agency or political subdivision thereof. 

 “Subsidiary” shall mean any corporation or other entity of which the securities
or other ownership interests having the voting power to elect a majority of the board of directors or other governing body are, at the time of determination, owned by Acadia or of which Acadia serves as the managing member or in a similar capacity
or of which Acadia holds a majority of the partnership or limited liability company or similar interests or is otherwise entitled to receive a majority of distributions made by it, in each case directly or through one or more Subsidiaries. 

10. Survival. Except as otherwise provided in Section 4(d), Sections 4 through 27 (other than
Section 22) shall survive and continue in full force in accordance with their terms notwithstanding the expiration or termination of the Employment Period. 

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

Notices to Executive: Joey A. Jacobs 
 [REDACTED]

 with copies (which shall not constitute notice) to: 

Acadia Healthcare Company, Inc. 

830 Crescent Centre Drive, Suite 610 

Franklin, TN 37067 
 Attention:
General Counsel 
 Facsimile: (615) 261-9685 

Notices to the Company: 
 Acadia
Healthcare Company, Inc. 
 830 Crescent Centre Drive, Suite 610 

Franklin, TN 37067 
 Attention:
Board of Directors 
 Facsimile: (615) 261-9685 

with copies (which shall not constitute notice) to: 

Acadia Healthcare Company, Inc. 

830 Crescent Centre Drive, Suite 610 

Franklin, TN 37067 
 Attention:
General Counsel 
 Facsimile: (615) 261-9685 

 or such other address or to the attention of such other Person as the recipient party shall have specified by
prior written notice to the sending party. Any notice under this Agreement shall be deemed to have been given when so delivered or sent by facsimile (subject to automatic proof of transmission), one day after being sent by overnight courier or three
days after being mailed by first class mail, return receipt requested, as applicable. 
 12. Severability. Whenever possible, each
provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule
in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other provision of this Agreement or any action in any other jurisdiction, but this Agreement shall be reformed, construed and enforced in such jurisdiction as
if such invalid, illegal or unenforceable provision had never been contained herein. 
 13. Complete Agreement. This Agreement and
those documents expressly referred to herein embody the complete agreement and understanding among the parties with respect to, and supersede and preempt any prior understandings, agreements or representations by or among the parties, written or
oral, which may have related to, the subject matter hereof in any way, including, without limitation, the Original Employment Agreement, and any prior employment agreement, by and between Executive and Acadia or any of the Subsidiaries. 

14. No Strict Construction. The language used in this Agreement shall be deemed to be the language chosen by the parties hereto to
express their mutual intent, and no rule of strict construction shall be applied against any party. 
 15. Counterparts. This
Agreement may be executed in separate counterparts (including by means of facsimile or by electronic transmission in portable document format (pdf) or comparable electronic transmission), each of which is deemed to be an original and all of which
taken together constitute one and the same agreement. 
 16. Successors and Assigns. This Agreement is personal in nature and neither
of the parties hereto shall, without the consent of the other, assign, transfer or delegate this Agreement or any rights or obligations hereunder; provided that (i) this Agreement will inure to the benefit of and be enforceable by
Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees and legatees (but otherwise will not otherwise be assignable, transferable or delegable by Executive), and (ii) this Agreement will
be assignable, transferable or delegable by the Company, without the consent of Executive, to Acadia or any of the Subsidiaries or to any successor (whether direct or indirect, in whatever form of transaction) to all or substantially all of the
business or assets of the Company or Acadia or the Subsidiaries (none of which shall constitute a termination of Executive’s employment hereunder). 

17. Choice of Law and Forum. All issues and questions concerning the construction, validity, enforcement and interpretation of this
Agreement and the exhibits and schedules hereto shall be governed by, and construed in accordance with, the laws of the State of Delaware, without giving effect to any choice of law or conflict of law rules or provisions (whether of the State of
Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware. The parties agree that any dispute arising out of or relating to this Agreement, exclusively shall be brought in
the state courts located in Williamson County, Tennessee or the United States District Court for the Middle District of Tennessee. Each party hereby waives any objection to the personal or subject matter jurisdiction and venue of such courts. 

 18. Amendment and Waiver. The provisions of this Agreement may be amended or waived only
with the prior written consent of the Company (as approved by the Board) and Executive, and no course of conduct or course of dealing or failure or delay by any party hereto in enforcing or exercising any of the provisions of this Agreement
(including, without limitation, the Company’s right to terminate the Employment Period for Cause) shall affect the validity, binding effect or enforceability of this Agreement or be deemed to be an implied waiver of any provision of this
Agreement. 
 19. Insurance. The Company may, at its discretion, apply for and procure in its own name and for its own benefit life
and/or disability insurance on Executive in any amount or amounts considered advisable. Executive agrees to cooperate in any medical or other examination, supply any information and execute and deliver any applications or other instruments in
writing as may be reasonably necessary to obtain and constitute such insurance. 
 20. Indemnification and Reimbursement of Payments on
Behalf of Executive. Acadia and the Subsidiaries shall be entitled to deduct or withhold from any amounts owing from Acadia or any of the Subsidiaries to Executive any federal, state, local or foreign withholding taxes, excise tax, or employment
taxes (“Taxes”) imposed with respect to Executive’s compensation or other payments from Acadia or any of the Subsidiaries or Executive’s ownership interest in Acadia or any of the Subsidiaries (including, without
limitation, wages, bonuses, dividends, the receipt or exercise of equity options and/or the receipt or vesting of restricted equity), as may be required to be deducted or withheld by any applicable law or regulation. In the event Acadia or any of
the Subsidiaries does not make such deductions or withholdings, Executive shall indemnify Acadia and the Subsidiaries for any amounts paid with respect to any such Taxes, together (if such failure to withhold was at the written direction of
Executive or if Executive was informed in writing by Acadia or such Subsidiary that such deductions or withholdings were not made) with any interest, penalties and related expenses thereto. 

21. Waiver of Jury Trial. AS A SPECIFICALLY BARGAINED FOR INDUCEMENT FOR EACH OF THE PARTIES HERETO TO ENTER INTO THIS AGREEMENT (AFTER
HAVING THE OPPORTUNITY TO CONSULT WITH COUNSEL), EACH PARTY HERETO EXPRESSLY WAIVES THE RIGHT TO TRIAL BY JURY IN ANY LAWSUIT OR PROCEEDING RELATING TO OR ARISING IN ANY WAY FROM THIS AGREEMENT OR THE MATTERS CONTEMPLATED HEREBY. 

22. Opportunity. During the Employment Period, Executive shall submit to the Board all investment or business opportunities of which he
becomes aware and which are within the scope and investment objectives of Acadia or any of the Subsidiaries. 
 23. Executive’s
Cooperation. During the Employment Period and for a period of six (6) months thereafter, Executive shall cooperate with Acadia and the Subsidiaries in any internal investigation or administrative, regulatory or judicial investigation or
proceeding or any dispute with any third party as reasonably requested by Acadia or the Subsidiaries (including, without limitation, Executive being available to Acadia and the Subsidiaries upon reasonable notice for interviews and factual
investigations, appearing at Acadia’s or any of the Subsidiaries’ request to give testimony without requiring service of a subpoena or other legal process, volunteering Acadia and the Subsidiaries all pertinent information and turning over
to Acadia and the 

 
Subsidiaries all relevant documents which are or may come into Executive’s possession, all at times and on schedules that are reasonably consistent with Executive’s other permitted
activities and commitments), all at Acadia’s or the Subsidiaries’ sole cost and expense. After such six (6) month period, if Executive is requested to engage or participate in any of the foregoing, then Executive will do so and Acadia
or the Subsidiaries shall compensate Executive for his time at an hourly rate of $250/hour. 
 24. Delivery by Facsimile or PDF. This
Agreement, the agreements referred to herein, and each other agreement or instrument entered into in connection herewith or therewith or contemplated hereby or thereby, and any amendments hereto or thereto, to the extent signed and delivered by
means of a facsimile machine or electronic transmission in pdf, shall be treated in all manner and respects as an original agreement or instrument and shall be considered to have the same binding legal effect as if it were the original signed
version thereof delivered in person. At the request of any party hereto or to any such agreement or instrument, each other party hereto or thereto shall re-execute original forms thereof and deliver them to all other parties. No party hereto or to
any such agreement or instrument shall raise the use of a facsimile machine or electronic transmission in pdf to deliver a signature or the fact that any signature or agreement or instrument was transmitted or communicated through the use of a
facsimile machine or electronic transmission in pdf as a defense to the formation or enforceability of a contract and each such party forever waives any such defense. 

25. Indemnification and Directors and Officers Insurance. 

(a) During the Employment Period and for a period of six (6) years thereafter, the Company shall, to the fullest extent
permitted under applicable law, indemnify and hold harmless Executive against all costs and expenses (including attorneys’ fees), judgments, fines, losses, claims, damages, liabilities and settlement amounts paid in connection with any claim,
action, suit, proceeding or investigation (whether arising before or after the date hereof), whether civil, criminal, administrative or investigative, arising out of or pertaining to any action or omission in their capacity as an officer, director,
employee, fiduciary or agent of the Company (or Acadia or any Subsidiary). In the event of any such claim, action, suit, proceeding or investigation, (i) the Company shall pay the reasonable fees and expenses of counsel selected by Executive
promptly after statements therefor are received, (ii) neither the Company, Acadia nor any Subsidiary shall settle, compromise or consent to the entry of any judgment in any pending or threatened action to which Executive is a party (and in
respect of which indemnification could be sought by Executive hereunder), unless such settlement, compromise or consent includes an unconditional release of Executive from all liability arising out of such action, or Executive otherwise consents
(which consent shall not be unreasonably withheld, conditioned or delayed), and (iii) the Company, Acadia and the applicable Subsidiaries shall cooperate in the defense of any such matter. In the event that any claim for indemnification is
asserted or made within the Employment Period or the six (6) year period thereafter, all rights of Executive to indemnification in respect of such claim shall continue until the final disposition of such claim. The rights of Executive under
this Section 25(a) shall be in addition to any rights Executive may have under the organizational documents of the Company, Acadia or any Subsidiary, under any law, or under any agreement of Executive with the Company, Acadia or any
Subsidiary. 
 (b) During the Employment Period and for a period of six (6) years thereafter, the Company, or any
successor to the Company, shall purchase and maintain, at its own expense, directors and officers liability insurance providing coverage for Executive in the same or greater amount as for members of the Board. 

 26. Legal Fees and Expenses. In the event any litigation or other court action,
arbitration or similar adjudicatory proceeding (a “Proceeding”) is commenced or threatened by any party hereto (the “Claiming Party”) to enforce its rights under this Agreement against any other party hereto (the
“Defending Party”), if the Defending Party is the prevailing party in such Proceeding, all fees, costs and expenses, including, without limitation, reasonable attorneys fees and court costs, incurred by the Defending Party in such
Proceeding, will be reimbursed by the Claiming Party, and, if the Claiming Party is the prevailing party in such Proceeding, all fees, costs and expenses, including, without limitation, reasonable attorneys fees and court costs, incurred by the
Claiming Party in such Proceeding, will be reimbursed by the Defending Party; provided that if the Defending Party prevails in part, and loses in part, in such Proceeding, the court, arbitrator or other adjudicator presiding over such Proceeding
shall award a reimbursement of the fees, costs and expenses incurred by the Claiming Party and the Defending Party on an equitable basis. For purposes of this Section 26, and without limiting the generality of the foregoing, the
Defending Party will be deemed to have prevailed in any Proceeding if the Claiming Party commences or threatens such Proceeding and (i) the underlying claim(s) in such Proceeding are subsequently dropped or dismissed, or (ii) the Defending
Party defeats any such claim(s). 
 27. Acadia Guarantee. Acadia unconditionally guarantees and promises to pay and perform, upon
Executive’s demand following a default by the Company, any and all obligations of the Company from time to time owed to Executive under this Agreement, subject to any applicable cure period. Acadia further agrees that if the Company shall fail
to fulfill any of its obligations under this Agreement, Acadia will perform the same on demand as a principal obligor, and not as a surety. This is a continuing guarantee of the obligations and may not be revoked and shall not otherwise terminate
unless and until the obligations of the Company have been paid and performed in full. Acadia represents and warrants that it will receive a substantial benefit from Company’s employment of Executive, which employment gives rise to the
obligations of the Company under this Agreement. Acadia acknowledges that Executive would not execute this Agreement if it did not receive this guarantee. 

*        *        *       
 *        * 

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

					
	COMPANY:
	
	ACADIA MANAGEMENT COMPANY, INC.
		
	By:	 	 /s/ Christopher L. Howard

		 	Name:	 	 Christopher L. Howard

		 	Its:	 	Vice President and Secretary
	
	EXECUTIVE:
	
	 /s/ Joey A. Jacobs

	Name: Joey A. Jacobs
	
	ACKNOWLEDGED AND AGREED:
	
	 ACADIA HEALTHCARE COMPANY, INC.,

solely with respect to Sections 7 and 27,
 as of this 7th day of
April, 2014

		
	By:	 	 /s/ Christopher L. Howard

		 	Name:	 	 Christopher L. Howard

		 	Its:	 	 Executive Vice President, General Counsel and Secretary

	
	

 Schedule 2(b) 

Other Activities 
  

	1.	AmSurg Corp. 

 20 Burton Hills Blvd. 

Suite 500 
 Nashville, TN 37215

  

	2.	Mental Health Management, Inc. 

 1593 Spring Hill Road, Suite 610 

Vienna, VA 22182 
  

	3.	Cumberland Pharmaceuticals, Inc. 

 2525 West End Avenue 

Suite 950 
 Nashville, TN 37203

  

	4.	Cleartrack Information Network, Inc. 

 5301 Virginia Way, Suite 110 

Brentwood, TN 37027

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00229-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00229-of-00352.parquet"}]]