Document:

apaexhibit1043202010-k

Exhibit 10.43  1  SCHEDULE A  Apache Corporation  2021 Performance Share Program      AWARD NOTICE  Recipient Name:  [Name]  Company:    Apache Corporation  Notice:  A summary of the terms of Conditional Grants of Restricted Stock  Units (“RSUs”) under the 2021 Performance Share Program is set  out in this notice (the “Award Notice”) but subject always to the  terms of the Apache Corporation 2016 Omnibus Compensation Plan  (the “Plan”) and the 2021 Performance Share Program Agreement  (the “Agreement”).  In the event of any inconsistency between the  terms of this Award Notice, the terms of the Plan and the  Agreement, the terms of the Plan and the Agreement shall prevail.  The Conditional Grant is a Cash-Based Award under Section 10 of  the Plan and is subject to the provisions of the Plan governing  Performance Awards.  Selected Eligible Persons have been awarded a conditional grant of  Apache Corporation RSUs in accordance with the terms of the Plan  and the Agreement.  Details of the RSUs which you are conditionally entitled to receive  is provided to you in this Award Notice and maintained on your  account at netbenefits.fidelity.com.  Type of Award:  A conditional award of RSUs based on a target percentage of annual  base salary determined at the beginning of the Performance Period  derived from job level (the “Conditional Grant”).    Restricted Stock Unit: A Restricted Stock Unit (“RSU”) as defined in the Plan and meaning  the right granted to the Recipient of the Conditional Grant, as  adjusted at the end of the Performance Period, to receive one share  of Stock or the cash equivalent thereof for each RSU at the end of  the specified Vesting Period.  Stock: The $0.625 par value common stock of the Company or as otherwise  defined in the Plan.  

 

  2  Grant:  A Conditional Grant related to ______ Restricted Stock Units  (“Target Amount”).  Grant Date:   [Date]  Conditions:  Subject always to the terms of the Plan and the Agreement, the  Conditional Grant of RSUs shall be made as of the Grant Date.  At  the end of the Performance Period, the Committee shall derive and  confirm the number of Conditional Grant RSUs that will actually be  awarded as RSUs to the Recipient based upon measurement of the  specific performance goals, applicable performance percentage  levels and applicable weighting percentages during the Performance  Period as set forth in Schedule B to the Agreement, provided that  the Recipient remains an Eligible Person and employed by the  Company or its Affiliate as of the final day of the Performance  Period.  Once granted at the conclusion of the Performance Period,  such RSUs shall remain subject to a vesting schedule (as set forth  below) (the “Vesting Period”).  Once vested, the Recipient shall be  paid the value of his or her RSUs in cash (net of cash withheld for  applicable tax withholdings) provided that the Recipient remains  employed as an Eligible Person during the Vesting Period including  the vesting date.  Performance Measure:   The performance measures for the Conditional Grant, the  performance percentage levels, and the applicable weighting  percentages to be applied over the Performance Period are set forth  on Schedule B to the Agreement.     At the end of the Performance Period, the Committee shall  determine and certify the attainment of each performance goal based  on the established performance percentage levels and apply the  applicable weighting percentages to determine the Final Amount of  RSUs to be awarded to each Recipient.   Performance Period:  The three-year period commencing January 1, 2021 and ending  December 31, 2023.  Vesting Period: Except upon a change of control (as described below), death or  Disability (as described below), or Retirement (as described below),  cessation of employment during the Performance Period shall result  in the immediate forfeiture of the entire amount of the Conditional  Grant. Any such RSUs awarded shall vest in accordance with the  following schedule, provided that the Recipient remains employed  as an Eligible Person as of such vesting date:  First day following the close of the Performance Period – 50%  vested.  

 

  3  First anniversary of the first day following the close of the  Performance Period – an additional 50% vested.  Except as described below, cessation of employment will result in  the immediate forfeiture of all unvested RSUs.    Upon such vesting, the applicable amount of cash, subject to  required tax withholding, shall be paid by the Company to the  Recipient within sixty (60) days of such vesting date.    Vesting is accelerated to 100% upon the Recipient’s death or  cessation of employment by reason of Disability during the  Performance Period or the subsequent Vesting Period (or, only in  the case of death, while treated as an Eligible Person following  Retirement (as described herein)).  Upon death or cessation of  employment by reason of Disability during the Performance Period,  the number of RSUs (and related shares of Stock) granted and vested  shall be deemed to be 1.00 times the Conditional Grant amount of  RSUs (the Target Amount).  Upon such vesting, the applicable  amount of cash, subject to required tax withholding, shall be paid by  the Company to the Recipient’s designated beneficiary, legal  representatives, heirs, or legatees, as applicable, in accordance with  the terms of the Plan and this Agreement.  The Recipient can name  a beneficiary on a form approved by the Committee.   Vesting is accelerated to 100% upon the Recipient’s Involuntary  Termination or Voluntary Termination with Cause occurring (i) on  or after a Change of Control which occurs on or before the end of  the Performance Period provided that the Recipient is an Eligible  Person at the time of such termination, with vesting to be in the  number of RSUs determined by applying the multiple of 1.00 to the  Target Amount or (ii) on or after a Change of Control which occurs  after completion of the Performance Period.  Upon such vesting, the  applicable amount of cash, subject to required tax withholding, shall  be paid by the Company to the Recipient within thirty (30) days of  such vesting date.  If, after the first three (3) months of the Performance Period (and not  before), the Recipient’s termination of employment from the  Company and the Affiliates occurs by reason of his or her  Retirement, the Recipient shall be deemed to continue to be  employed as an Eligible Person for purposes of this Grant and shall  continue to vest with respect to a specified percentage of RSUs over  the Vesting Period provided that the Recipient meets the Retirement  Conditions set forth in section 6 of the Agreement.  In the event of  a Change of Control after the Recipient retires during the period  commencing on the first day following the first three (3) months of  

 

  4  the Performance Period and ending on the last day of the Vesting  Period, vesting is accelerated to 100% for such Recipient upon the  occurrence of the Change of Control. In the event of a Change of  Control prior to the Recipient’s termination of employment by  reason of Retirement and after the first three (3) months of the  Performance Period and ending on the last day of the Vesting  Period, the Recipient shall become 100% vested upon the  Recipient’s termination of employment by reason of Retirement.   Unless expressly otherwise provided in the Agreement with respect  to Retirement and Change of Control, the applicable amount of cash,  subject to required tax withholding, shall be paid by the Company  to the Recipient upon the earlier to occur of a 409A Change of  Control or the normal vesting dates (in the applicable percentage  amounts). Payment shall be made within thirty (30) days of a 409A  Change of Control or within sixty (60) days of the normal vesting  dates, whichever is applicable.  Withholding: The Company and the Recipient will comply with all federal and  state laws and regulations respecting the required withholding,  deposit and payment of any income, employment, or other taxes  relating to the Grant.  Clawback: This Grant is subject to the Company’s Executive Compensation  Clawback Policy (a copy of which is provided with this Notice) and  the recoupment and reimbursement policies as provided in the  Agreement.  Dividends: The Company will credit each of the Recipient’s Conditional Grant  RSUs and RSUs, as applicable, with Dividend Equivalents.  For  purposes of this Grant, a Dividend Equivalent is an amount equal to  the cash dividend payable per share of Stock multiplied by the  number of shares of Stock then underlying such outstanding  Conditional Grant RSUs or RSUs, as applicable.  Such amount will  be credited to a book entry account on Recipient’s behalf at the time  the Company pays any cash dividend on its Stock.  The Recipient’s  rights in any such Dividend Equivalents will vest at the same time  as, and only to the extent that, the underlying Conditional Grant  RSUs or RSUs, as applicable, vest and will be distributed at the  same time in cash (subject to applicable withholdings), and only to  the extent, as the related RSUs are to be distributed to the Recipient  as provided in the Agreement and to which such Dividend  Equivalents apply. Dividend Equivalents on Conditional Grant  RSUs will accrue and be credited by the Company but will be  subject to the same performance goals, applicable performance  percentage levels and applicable weighting percentages as the  related Conditional Grant RSUs.  Dividend Equivalents (as so  adjusted) will not be paid to a Recipient until such Recipient  

 

  5  becomes vested in the related RSUs granted at the end of the  Performance Period and will be forfeited in the event of the  forfeiture and cancellation of the related Conditional Grant RSUs  and RSUs pursuant to this Agreement.  Acceptance Please complete the on-line grant acceptance as promptly as  possible to accept or reject your Conditional Grant.  You can access  this through your account at netbenefits.fidelity.com.  By accepting  your Conditional Grant, you will have agreed to the terms and  conditions set forth in the Agreement, including, but not limited to,  the non-compete and non-disparagement provisions set forth in  sections 6 and 7 of the Agreement, and the terms and conditions of  the Plan.  If you do not accept your grant, your Conditional Grant  and the related RSUs will not vest and you will be unable to receive  your Conditional Grant or the related RSUs.     

 

  6  SCHEDULE B  Apache Corporation  2021 Performance Share Program    PERFORMANCE MEASURES    Performance Goals: 1.  Total Shareholder Return      At the end of the Performance Period, the Committee shall derive  and confirm a portion of the number of Conditional Grant RSUs that  will actually be awarded as RSUs to the Recipient based upon  measurement of total shareholder return (“TSR”) of Stock as  compared to a designated Peer Group during the Performance  Period, provided that the Recipient remains an Eligible Person and  employed by the Company or its Affiliate as of the final day of the  Performance Period.    TSR is determined by dividing (i) the sum of the cumulative amount  of a company’s or index fund’s dividends for the performance period  (assuming same-day reinvestment into the company’s common  stock or index fund on the ex-dividend date) and the share price of  the company or index fund at the end of the performance period  minus the share price at the beginning of the performance period by  (ii) the share price at the beginning of the performance period.    - Begin Price = Average per share closing price of a share or share  equivalent on the applicable stock exchange for the month of  December immediately preceding the beginning of the  performance period    - End Price = Average per share closing price of a share or share  equivalent on the applicable stock exchange for the month in  which the performance period ends    - Dividends = Includes dividends paid throughout performance  period    - TSR ranking compared to designated Peer Group (25  companies and one index selected twice)    o Antero Resources Corp.  o Bonanza Creek Energy, Inc.  

 

  7  o Cabot Oil & Gas Corporation  o Chevron Corporation  o Cimarex Energy Co.  o CNX Resources Corporation  o ConocoPhillips Company  o Continental Resources, Inc.  o Devon Energy Corporation  o Diamondback Energy, Inc.  o EOG Resources, Inc.  o EQT Corporation  o Exxon Mobil Corporation  o Hess Corporation  o Kosmos Energy Ltd.  o Magnolia Oil & Gas Corporation  o Matador Resources Company  o Marathon Oil Corporation  o Murphy Oil Corporation  o Occidental Petroleum Corporation  o Ovintiv Inc.  o PDC Energy, Inc.  o Pioneer Natural Resources Co.  o Range Resources Corporation  o Southwestern Energy Company  o S&P 500 Index  o S&P 500 Index    - Apache’s performance over a three-year performance period  will be directly ranked within the peer group, resulting in the  application of a single multiplier to the target shares to derive  the number of shares awarded. The multiplier will range from 0  for performance in the bottom 5 to 2.0 for ranking in the top 5  among the peer group.    - Should consolidation among peers in the marketplace occur, the  ranking schedule would adjust to accommodate the reduced  number of peers.    2.  Business Performance  The Committee shall derive and confirm a portion of the number of  Conditional Grant RSUs that will actually be awarded as RSUs to  the Recipient based upon a performance target determined at the  

 

  8  beginning of the Performance Period related to the following  criteria:   Cash Return on Invested Capital     Performance is measured based on the three-year average relative to  target.     The Committee will consider all of the above performance  measures related to the Company as a whole as follows:    Metric Weighting Threshold Target Max  Total Shareholder Return 50% 23rd 14th - 15th 1st – 5th  Cash Return on Invested Capital 50% 50% 100% 200%    Performance Period:  Three calendar years  - 1/1/2021 to 12/31/2023    Measurement: At the conclusion of the three-year performance period, a  calculation of TSR performance will be made and confirmed. 50%  of the total Target Amount of RSUs will be determined based upon  the final TSR performance as follows:    Rank Against  Peers  Payout  Multiple  1 2.00  2 2.00  3 2.00  4 2.00  5 2.00  6 1.85  7 1.75  8 1.65  9 1.55  10 1.45  11 1.35  12 1.25  13 1.15  14 1.05  15 0.95  16 0.85  17 0.75  18 0.65  

 

  9  Rank Against  Peers  Payout  Multiple  19 0.55  20 0.45  21 0.35  22 0.25  23 0.15  24 0.00  25 0.00  26 0.00  27 0.00  28 0.00    If Apache’s absolute TSR for the three-year performance period is  negative, the 50% TSR portion of the total Target Amount of RSUs  will be capped at the 1.00 Payout Multiple, regardless of whether  the Rank Against Peers above achieved a higher Payout Multiple.    Cash Return on Invested Capital will be evaluated over the three- year Performance Period against a performance target determined  prior to March 31 at the beginning of the performance period.   Performance will be measured based on the three-year average  relative to target.  50% of the total Target Amount of RSUs will be  determined based upon the three-year average Cash Return on  Invested Capital.    The three-year average performance for cash return on invested  capital will be interpolated as follows to determine the final  achievement percentage for each metric.    Metric Threshold Target Max  Cash Return on Invested Capital 50% 100% 200%           

 

  10  Apache Corporation  2021 Performance Share Program Agreement     This 2021 Performance Share Program Agreement (the “Agreement”) relating to a  conditional grant of Restricted Stock Units (as defined in the definition section of the Apache  Corporation 2016 Omnibus Compensation Plan (the “Plan”)) (the “Conditional Grant”), dated as  of the Grant Date set forth in the Notice of Award under the 2021 Performance Share Program  attached as Schedule A hereto (the “Award Notice”), is made between Apache Corporation  (together with its Affiliates, the “Company”) and each Recipient.  The Award Notice is included  in and made part of this Agreement.  In this Agreement and each Award Notice, unless the context otherwise requires, words  and expressions shall have the meanings given to them in the Plan except as herein defined.  Definitions  “409A Change of Control” means a Change of Control that constitutes, with respect to  Apache Corporation, a “change in the ownership or effective control of the corporation, or in the  ownership of a substantial portion of the assets of the corporation” within the meaning of Section  409A(a)(2)(A)(v) of the Internal Revenue Code of 1986, as amended (the “Code”) and Treasury  Regulations Section 1.409A-3(i)(5).   “Award Notice” means the separate notice, along with Schedule B, given to each Recipient  specifying the Target Amount and other applicable performance percentage levels, performance  criteria and applicable weighting percentages for that individual.  “Base Salary” means, with regard to any Recipient, such Recipient’s annual base  compensation as an employee of the Company determined immediately prior to the beginning of  the Performance Period, without regard to any bonus, pension, profit sharing, stock option, life  insurance or salary continuation plan which the Recipient either receives or is otherwise entitled  to have paid on his or her behalf.  “Conditional Grant” means the conditional entitlement, evidenced by this Agreement to  receive all or a portion of a Target Amount and Final Amount, subject to and in accordance with  the provisions of this Agreement.  “Disability” or “Disabled” means the Recipient is unable to engage in any substantial  gainful activity by reason of any medically determinable physical or mental impairment which can  be expected to result in death or which has lasted or can be expected to last for a continuous period  of not less than 12 months. Recipient agrees that a final and binding determination of “Disability”  will be made by the Company’s representative under the Company’s group long-term disability  plan or any successor thereto or, if there is no such representative and there is a dispute as to the  determination of “Disability,” it will be decided in a court of law in Harris County, Texas.   “Fair Market Value” means the fair market value of a share of the Stock as determined by  the Committee by the reasonable application of such reasonable valuation method, consistently  applied, as the Committee deems appropriate; provided, however, that if the Committee has not  

 

  11  made such determination, such fair market value shall be the per share closing price of the Stock  as reported on Nasdaq or on such other exchange or electronic trading system as, on the date in  question, reports the largest number of traded shares of stock; provided further, however, that, if  there are no Stock transactions on such date, the Fair Market Value shall be determined as of the  immediately preceding date on which there were Stock transactions.    “Final Amount” means with regard to any Recipient, such number of shares of Restricted  Stock Units (“RSUs”) as specified in each Recipient’s Award Notice, times the applicable multiple  factor determined under the Performance Measures at the end of the Performance Period.  “Involuntary Termination” means the termination of employment of the Recipient by the  Company or its successor for any reason on or after a Change of Control; provided, that the  termination does not result from an act of the Recipient that (i) constitutes common-law fraud, a  felony, or a gross malfeasance of duty and (ii) is materially detrimental to the best interests of the  Company or its successor.  “Payout Amount” means the vested portion of the Final Amount expressed as an amount  of cash equal to the Fair Market Value of the shares of Stock underlying the RSUs and related  Dividend Equivalents.  “Peer Group” means the group of companies or index funds selected by the Committee for  purposes of this Agreement as set forth in the Award Notice.  Should consolidation among any  Peer Group companies in the marketplace occur during the Performance Period, the Committee  will determine the appropriate adjustments to accommodate the reduced number of Peer Group  companies for the Performance Period.  Should a Change of Control of Apache Corporation occur  during the Performance Period, the Committee will determine the appropriate adjustments to  measure Apache Corporation’s TSR for the Performance Period.  The Peer Group companies for  any particular Performance Period shall be determined at the commencement of such Performance  Period.   “Performance Measures” means, as set forth in the Award Notice, (i) Apache Corporation’s  TSR over the Performance Period compared to the TSR of the Company’s Peer Group over the  Performance Period, or (ii) Apache Corporation’s achievement of pre-established performance  goals over the Performance Period, as applicable.  For purposes of determining TSR performance,  at the end of the Performance Period, the Peer Group companies and the Company will be ranked  together based on their TSR for the Performance Period from the highest TSR being number 1 to  the lowest TSR being the number of Peer Group companies or index funds, including the  Company, remaining in the group at the end of the Performance Period.  Based on the Company’s  relative TSR rank amongst the Peer Group companies or index funds for the Performance Period,  a Recipient who remains employed as of the last day of the Performance Period will be issued  RSUs at the close of the Performance Period as determined by the Company’s percentile rank as  set forth in the Award Notice (the Final Amount). At the end of the Performance Period, the  Committee shall also determine and certify the levels of other specific performance goals achieved  and apply the applicable performance percentage levels and weighting percentages as set forth in  the Award Notice.  Based on the Company’s level of goal achievement, a Recipient who remains  employed as of the last day of the Performance Period will be issued RSUs on the day following  

 

  12  the close of the Performance Period as determined by the Committee as set forth in the Award  Notice (the Final Amount).  “Performance Period” means the three-year period as specified in the Award Notice.  “Recipient” means an Eligible Person who has been designated to receive one or more  Conditional Grants in accordance with the Plan.  For purposes of this Agreement, the group of  Eligible Persons shall include all full-time and designated part-time employees of the Company  who are employed as employees of the Company (as designated by the Company for payroll  purposes), but excluding Egyptian nationals employed outside of the United States, employees  categorized by the Company (for payroll purposes) as non-exempt support and field staff, leased  employees, interns, or any employee of the Company who is covered under a collective bargaining  agreement, unless such collective bargaining agreement specifically provides for coverage under  the Plan.  “Retirement” means, with respect to a Recipient and for purposes of this Agreement, the  date the Recipient terminates employment with the Company after attaining (i) age 55 and (ii) a  certain combination of age and Years of Service set forth in the Matrix in Exhibit “A” attached  hereto.  “Years of Service” means the total number of months from the Recipient’s date of hire by  the Company to the date of termination of employment, plus any months required to be recognized  under an appropriate acquisition agreement, divided by 12.  “Target Amount” means, with regard to any Recipient, such number of RSUs as specified  in each Recipient’s Award Notice.  Such Target Amount shall be based upon a target percentage  of annual Base Salary determined at the beginning of the Performance Period derived from job  level.  “Total Shareholder Return” or “TSR” is determined by dividing (i) the sum of the  cumulative amount of a company’s dividends for the Performance Period (assuming same-day  reinvestment into the company’s common stock on the ex-dividend date) and the share price of  the company at the end of the Performance Period minus the share price at the beginning of the  Performance Period, by (ii) the share price at the beginning of the Performance Period.  “Voluntary Termination with Cause” occurs upon a Recipient’s separation from service of  his or her own volition and one or more of the following conditions occurs without the Recipient’s  consent on or after a Change of Control:  (a) There is a material diminution in the Recipient’s base compensation,  compared to his or her rate of base compensation on the date of the Change  of Control.  (b) There is a material diminution in the Recipient’s authority, duties or  responsibilities.  (c) There is a material diminution in the authority, duties or responsibilities of  the Recipient’s supervisor, such as a requirement that the Recipient (or his  

 

  13  or her supervisor) report to a corporate officer or employee instead of  reporting directly to the board of directors.  (d) There is a material diminution in the budget over which the Recipient  retains authority.  (e) There is a material change in the geographic location at which the Recipient  must perform his or her service, including, for example the assignment of  the Recipient to a regular workplace that is more than 50 miles from his or  her regular workplace on the date of the Change of Control.  The Recipient must notify the Company of the existence of one or more adverse conditions  specified in clauses (a) through (e) above within 90 days of the initial existence of the adverse  condition.  The notice must be provided in writing to the Company or its successor, attention: Vice  President, Human Resources.  The notice may be provided by personal delivery or it may be sent  by email, inter-office mail, regular mail (whether or not certified), fax, or any similar method.  The  Company’s Vice President, Human Resources, or his/her delegate shall acknowledge receipt of  the notice within 5 business days; the acknowledgement shall be sent to the Recipient by certified  mail.  Notwithstanding the foregoing provisions of this definition, if the Company remedies the  adverse condition within 30 days of being notified of the adverse condition, no Voluntary  Termination with Cause shall occur.  Terms  1. Conditional Grant of RSUs.  Subject to the provisions of this Agreement and the  provisions of the Plan and Award Notice, the Company shall conditionally grant to the Recipient,  pursuant to the Plan, a right to receive the Target Amount of RSUs set forth in the Recipient’s  Award Notice.  Such Target Amount shall be adjusted to a Final Amount at the end of the  Performance Period based upon the results of the Performance Measures, as determined by the  Committee.  Notwithstanding the foregoing, the Target Amount shall be adjusted to a Final  Amount of RSUs at the conclusion of the Performance Period solely for each Recipient who  remains employed or is deemed to be employed on account of Retirement as of the last day of the  Performance Period.  The award of the Final Amount shall give the Recipient the right, upon  vesting, to receive an amount of cash equal to the Fair Market Value of an equal number of shares  of $0.625 par value common stock of the Company (“Stock”) to that of the number of RSUs  comprising the Final Amount.  2. Vesting and Payment of Cash.  Subject to the provisions of section 3, the Payout  Amounts shall be payable in increments strictly in accordance with the following schedule:  (a) The entitlement to receive an amount of cash equal to the Fair Market Value of the  number of shares of Stock pursuant to the RSUs comprising the Final Amount shall vest fifty  percent (50%) and become payable as of the first day following the close of the Performance  Period, provided that the Recipient remains employed as an Eligible Person on such date.  Except  as otherwise provided herein, such cash, subject to applicable withholding, shall be paid by the  Company to the Recipient within sixty (60) days of such vesting date.  

 

  14  (b) The entitlement to receive the remaining fifty percent (50%) of an amount in cash  equal to the Fair Market Value of number of the shares of Stock pursuant to the RSUs comprising  the Final Amount shall vest and become payable as of the first anniversary of the first day  following the close of the Performance Period, provided that the Recipient remains employed as  an Eligible Person on such applicable vesting date.  Except as otherwise provided herein, such  cash, subject to applicable withholding, shall be paid by the Company to the Recipient within sixty  (60) days of such vesting date.  3. Termination of Employment, Retirement, Death, or Disability prior to the end of  the Performance Period.  Except as set forth below, a cessation of employment with the Company  prior to the end of the Performance Period will result in the Target Amount being forfeited for all  purposes.  (a) If the Recipient dies while employed by the Company regardless whether Recipient  has accepted the Conditional Grant, or if the Recipient is no longer employed by the Company by  reason of Disability (as defined in this Agreement), during the Performance Period, the Recipient  shall be entitled to an amount equal to the Target Amount of RSUs and shall become 100% vested  in such Target Amount.  Payment shall be made as soon as administratively practicable, but in no  event (i) in the case of death, shall the payment occur later than the last day of the calendar year  following the calendar year in which such death occurs or (ii) in the case of cessation of  employment by reason of Disability, shall the payment occur later than thirty (30) days following  the date upon which the Recipient is Disabled and is no longer employed by the Company.  If  clause (ii) is applicable and the payment period spans two consecutive calendar years, payment  shall be made in the second calendar year of such consecutive calendar years.  Such payment shall  be made to the Recipient’s designated beneficiary, legal representatives, heirs, or legatees, as  applicable.  Each Recipient may designate a beneficiary on a form approved by the Committee.  (b) If the Recipient leaves the employment of the Company by reason of Retirement  after the first three (3) months of the Performance Period (and not before) and prior to the end of  the Performance Period, any Final Amounts not previously vested shall continue to vest following  the Recipient’s termination of employment by reason of Retirement as if the Recipient remained  an Eligible Person in the employ of the Company until the vesting dates set forth in section 2  above, provided that such Recipient shall be entitled to continue vesting only if such Recipient  satisfies the Retirement Conditions set forth in section 6 below (except in the case of death) and  only with respect to the specified percentage of such unvested Final Amounts set forth in Exhibit  “A” for a certain combination of age and Years of Service attained by the Recipient as of the  Recipient’s Retirement under the Matrix set forth in Exhibit “A”.  An amount of cash equal to the  Fair Market Value of an equal number of shares of Stock that vests pursuant to this section 3(b)  and subject to applicable withholding, shall be paid by the Company to the Recipient who is retired,  within sixty (60) days of such vesting date.  4. Termination of Employment, Retirement, Death or Disability after the end of the  Performance Period.  Except as set forth below, each Conditional Grant shall be subject to the  condition that the Recipient has remained an Eligible Person from the award of the Conditional  Grant of RSUs until the applicable vesting date as follows:  

 

  15  (a) If the Recipient voluntarily leaves the employment of the Company (other than for  reason of Retirement), or if the employment of the Recipient is terminated by the Company for  any reason or no reason, any Final Amounts not previously vested shall thereafter be void and  forfeited for all purposes.  (b) A Recipient shall become 100% vested in all Final Amounts on the date the  Recipient dies while employed by the Company regardless whether Recipient has accepted the  Conditional Grant (or while continuing to vest pursuant to section 4(c) below), or on the date the  Recipient is no longer employed by the Company by reason of Disability.  Payment shall be made  as soon as administratively practicable, but in no event (i) in the case of death, shall the payment  occur later than the last day of the calendar year following the calendar year in which such death  occurs or (ii) in the case of cessation of employment by reason of Disability, shall the payment  occur later than thirty (30) days following the date upon which the Recipient is Disabled and is no  longer employed by the Company.  If clause (ii) is applicable and the payment period spans two  consecutive calendar years, payment shall be made in the second calendar year of such consecutive  calendar years.  Such payment shall be made to the Recipient’s designated beneficiary, legal  representatives, heirs, or legatees, as applicable.  Each Recipient may designate a beneficiary on a  form approved by the Committee.  (c) If the Recipient leaves the employment of the Company by reason of Retirement  after the end of the Performance Period, any Final Amounts not previously vested shall continue  to vest following the Recipient’s termination of employment by reason of Retirement after the end  of the Performance Period as if the Recipient remained an Eligible Person in the employ of the  Company until the vesting date set forth in section 2(b) above, provided that such Recipient shall  be entitled to continue vesting only if such Recipient satisfies the Retirement Conditions set forth  in section 6 below (except in the case of death) and only with respect to the specified percentage  of such unvested Final Amounts set forth in Exhibit “A” for a certain combination of age and  Years of Service attained by the Recipient as of the Recipient’s Retirement under the Matrix set  forth in Exhibit “A”.  An amount of cash equal to the Fair Market Value of an equal number of  shares of Stock that vests pursuant to this section 4(c) and subject to applicable withholding, shall  be paid by the Company to the Recipient who is retired, within sixty (60) days of such vesting  date.  5. Change of Control.    (a) Pursuant to Section 13.1(c)(iii) and (d) of the Plan, the following provisions of this  section 5 of the Agreement shall supersede Sections 13.1(a), (b) and (c) of the Plan.  Without any  further action by the Committee or the Board, in the event of the Recipient’s Involuntary  Termination or Voluntary Termination with Cause which occurs (i) on or after a Change of Control  and (ii) prior to the end of the Performance Period, the Recipient shall become 100% vested as of  the date of such Involuntary Termination or Voluntary Termination with Cause in the number of  RSUs determined by applying the multiple of 1.00 to the Target Amount.  Subject to section 12(b)  of this Agreement, payment shall occur within thirty (30) days of the date of such Involuntary  Termination or Voluntary Termination with Cause, subject to required tax withholding.  (b) In the event of a Recipient’s Involuntary Termination or Voluntary Termination  with Cause occurring on or after a Change of Control which occurs after the end of the  

 

  16  Performance Period, the Recipient shall become 100% vested in the Final Amount of RSUs as of  the date of such Involuntary Termination or Voluntary Termination with Cause.  Subject to section  12(b) of this Agreement, payment shall occur within thirty (30) days of the date of such Involuntary  Termination or Voluntary Termination with Cause, subject to required tax withholding.  (c) In the event of a Change of Control following the Recipient’s termination of  employment by reason of Retirement, after the first three (3) months of the Performance Period  and ending on the last day of the Vesting Period, the Recipient, shall become 100% vested in the  unvested Final Amount of RSUs as of the date of the Change of Control.  Subject to section 12(b)  of this Agreement, payment shall occur within thirty (30) days of a 409A Change of Control  provided that if no 409A Change of Control occurs during the Performance Period, nor during the  period of continued vesting as set forth in section 3(b) and 4(c) of this Agreement, then the Final  Amount shall be paid by the Company to the Recipient who is retired, within sixty (60) days of  the vesting dates (in the applicable percentage amounts) set forth in section 2 of this Agreement,  subject to required tax withholding.  In the event of a Change of Control prior to the Recipient’s  termination of employment by reason of Retirement and after the first three (3) months of the  Performance Period and ending on the last day of the Vesting Period, the Recipient shall become  100% vested in the unvested Final Amount of RSUs as of the date that the Recipient terminates  employment by reason of Retirement.  For the purpose of vesting as set forth in the prior sentence,  a Recipient’s Involuntary Termination or Voluntary Termination with Cause after a Change of  Control shall be deemed a termination by reason of Retirement.  Subject to section 12(b) of this  Agreement, if the Recipient terminates employment by reason of Retirement after a Change of  Control, the Recipient shall receive payment with respect to 100% of such Final Amount within  sixty (60) days of the vesting dates (in the applicable percentage amounts) as set forth in section 2  of this Agreement, subject to required tax withholding.  6. Conditions to Post-Retirement Vesting.  If the Recipient has attained age 55 and a  certain combination of age and Years of Service set forth in the Matrix in Exhibit “A” attached  hereto and terminates employment with the Company and the Affiliates by reason of Retirement  after the first three (3) months of the Performance Period, it is agreed by the Company and the  Recipient that:    (a) subject to the provisions of this section 6(a) and sections 6(b) and 6(c), such  Recipient shall continue to vest in the specified percentage of the unvested Final Amount of RSUs  set forth in Exhibit “A”, for the combination of age and Years of Service attained by such Recipient  as of his or her Retirement under the Matrix set forth in Exhibit “A”, following the date of his or  her termination by reason of Retirement as if the Recipient continued in employment as an Eligible  Person provided that the Grant Date of the unvested RSUs is prior to such termination date in an  amount of time which allows the Recipient to provide the written notice as follows and the  Recipient has provided advance written notice not before three (3) months following the Grant  Date and not less than the number of months prior to such termination date as set forth in the  Schedule below to Apache Corporation’s Vice President, Human Resources, or his or her delegate,  and to his or her direct manager, regarding the Recipient’s intent to terminate employment for  reason of Retirement; provided, however, a Recipient who is at least age 55 and attained the  necessary combination of age and Years of Service under the Matrix set forth in Exhibit “A” for  Retirement need not provide such advance written notice of his or her intent to terminate  employment by reason of Retirement if the Company elects to require such Recipient to, or (as  

 

  17  part of a reduction in force or otherwise in writing in exchange for a written release) offers such  Recipient the opportunity to, terminate employment with the Company by reason of Retirement:   Age  Advance Written Notice  65 or older  3 months  between (and including) 55 and 64  6 months    ; and it is further agreed that  (b) in consideration for the continued vesting treatment afforded to the Recipient under  section 6(a), Recipient shall, after Retirement and during the period commencing on the first day  following the first three (3) months of the Performance Period and ending on the last day of the  Vesting Period (the “Continued Vesting Period”), refrain from becoming employed by, or  consulting with, or becoming substantially involved in the business of, any business that competes  with the Company or its Affiliate in the business of exploration or production of oil or natural gas  wherever from time to time conducted throughout the world (a “Competitive Business”) and  Recipient shall provide to the Company, upon Company’s request, (x) a written certification, in a  form provided by or satisfactory to the Company, as to Recipient’s compliance with the forgoing  conditions and/or (y) his/her U.S. Individual Income Tax Return for any return filed by the  Recipient which relates to any time during the Continued Vesting Period to allow the Company to  verify that Recipient has complied with the foregoing conditions; provided, that the Recipient may  purchase and hold for investment purposes less than five percent (5%) of the shares of any  Competitive Business whose shares are regularly traded on a national securities exchange or inter- dealer quotation system, and provided further, that the Recipient may provide services solely as a  director of any Competitive Business whose shares are regularly traded on a national securities  exchange or inter-dealer quotation system if, during the Continued Vesting Period, (i) the  Recipient only attends board and board committee meetings, votes on recommendations of  management, and discharges his/her fiduciary obligations under the law and (ii) the Recipient is  not involved in, and does not advise or consult on, the marketing, government relations, customer  relations, or the day-to-day management, supervision, or operations of such Competitive Business;  and it is further agreed that    (c) in consideration for the continued vesting treatment afforded to the Recipient under  section 6(a), Recipient shall, during the Continued Vesting Period, refrain from making, or causing  or assisting any other person to make, any oral or written communication to any third party about  the Company, any Affiliate and/or any of the employees, officers or directors of the Company or  any Affiliate which impugns or attacks, or is otherwise critical of, the reputation, business or  character of such entity or person; or that discloses private or confidential information about their  business affairs; or that constitutes an intrusion into their seclusion or private lives; or that gives  rise to unreasonable publicity about their private lives; or that places them in a false light before  the public; or that constitutes a misappropriation of their name or likeness.    Notwithstanding the foregoing provisions of this section 6 of the Agreement, (i) in the event that  the Recipient fails to satisfy any of the conditions set forth in sections 6(a), (b) and (c) above, the  Recipient shall not be entitled to vest in the specified percentage under the Matrix set forth in  Exhibit “A” in any unvested Final Amount of RSUs after the date of Retirement and the unvested  

 

  18  Final Amount of RSUs subject to this Agreement shall be forfeited and (ii) the Recipient shall not  have any right to continue to vest upon Retirement in any future awards granted under the Plan  once the Recipient provides the notice of Retirement as set forth in section 6(a) above.   7. Prohibited Activity.  In consideration for this Grant and except as permitted by  Section 6(b) above, the Recipient agrees not to engage in any “Prohibited Activity” while  employed by the Company or within three years after the date of the Recipient’s termination of  employment.  A “Prohibited Activity” will be deemed to have occurred, as determined by the  Committee in its sole and absolute discretion, if the Recipient (i) divulges any non-public,  confidential or proprietary information of the Company, but excluding information that (a)  becomes generally available to the public other than as a result of the Recipient’s public use,  disclosure, or fault, or (b) becomes available to the Recipient on a non-confidential basis after the  Recipient’s employment termination date from a source other than the Company prior to the public  use or disclosure by the Recipient, provided that such source is not bound by a confidentiality  agreement or otherwise prohibited from transmitting the information by contractual, legal or  fiduciary obligation; (ii) directly or indirectly, consults with or becomes affiliated with, participate  or engage in, or becomes employed by any business that is competitive with the Company,  wherever from time to time conducted throughout the world, including situations where the  Recipient solicits or participates in or assists in any way in the solicitation or recruitment, directly  or indirectly, of any employees of the Company; or (iii) engages in publishing any oral or written  statements about the Company, and/or any of its directors, officers, or employees that are  disparaging, slanderous, libelous, or defamatory; or that disclose private or confidential  information about their business affairs; or that constitute an intrusion into their seclusion or  private lives; or that give rise to unreasonable publicity about their private lives; or that place them  in a false light before the public; or that constitute a misappropriation of their name or likeness.    8. Payment and Tax Withholding.  Upon receipt of any entitlement to cash under this  Agreement and, if applicable, upon the Recipient’s attainment of eligibility to terminate  employment by reason of Retirement pursuant to section 4(c), the Recipient shall make appropriate  arrangements with the Company to provide for the amount of minimum tax and social security  withholding, if any, required by law, including without limitation Sections 3102 and 3402 or any  successor section(s) of the Internal Revenue Code and applicable state and local income and other  tax laws.  The payment of a Payout Amount shall be based on the Fair Market Value of the shares  of Stock on the applicable date of vesting to which such tax withholding relates.  Where  appropriate, cash shall be withheld by the Company to satisfy applicable tax withholding  requirements rather than paid directly to the Recipient.  9. Non-Transferability of Conditional Grant and Unvested Final Amount.  The  Conditional Grant and any unvested Final Amount shall not be transferable otherwise than by  testamentary will or the laws of descent and distribution, or in accordance with a valid beneficiary  designation on a form approved by the Committee, subject to the conditions and exceptions set  forth in Section 15.2 of the Plan.  10. No Right to Continued Employment.  Neither the RSUs or the cash payment  pursuant to a Conditional Grant nor any terms contained in this Agreement shall confer upon the  Recipient any express or implied right to be retained in the employment or service of the Company  for any period, nor restrict in any way the right of the Company, which right is hereby expressly  

 

  19  reserved, to terminate the Recipient’s employment or service at any time for any reason or no  reason.  The Recipient acknowledges and agrees that any right to receive RSUs or cash pursuant  to a Conditional Grant is earned only by continuing as an employee of the Company at the will of  the Company, or satisfaction of any other applicable terms and conditions contained in the Plan  and this Agreement, and not through the act of being hired, being granted the Conditional Grant,  or acquiring RSUs or cash pursuant to the Conditional Grant hereunder.  11. The Plan.  In consideration for this Conditional Grant, the Recipient agrees to  comply with the terms of the Plan and this Agreement.  This Agreement is subject to all the terms,  provisions and conditions of the Plan, which are incorporated herein by reference, and to such  regulations as may from time to time be adopted by the Committee. The Conditional Grant is a  Cash-Based Award under Section 10 of the Plan and is subject to the provisions of the Plan  governing Performance Awards. Unless defined herein, capitalized terms are used herein as  defined in the Plan. In the event of any conflict between the provisions of the Plan and this  Agreement, the provisions of the Plan shall control, and this Agreement shall be deemed to be  modified accordingly.  The Plan and the prospectus describing the Plan can be found on the  Company’s HR intranet and the Plan document can be found on Fidelity’s website  (netbenefits.fidelity.com).  A paper copy of the Plan and the prospectus shall be provided to the  recipient upon the Recipient’s written request to the Company at 2000 Post Oak Blvd., Suite 100,  Houston, Texas 77056-4400, Attention: Corporate Secretary.  12. Compliance with Laws and Regulations.  (a) The Conditional Grant and any obligation of the Company to deliver RSUs and  cash hereunder shall be subject in all respects to (i) all applicable laws, rules and regulations and  (ii) any registration, qualification, approvals or other requirements imposed by any government or  regulatory agency or body which the Committee shall, in its discretion, determine to be necessary  or applicable.    (b) This Conditional Grant is intended to comply with, or be exempt from, the  applicable requirements of Section 409A of the Code and the rules and regulations issued  thereunder and shall be administered accordingly.  Notwithstanding anything in this Agreement to  the contrary, if the RSUs constitute “deferred compensation” under Section 409A of the Code and  any RSUs become payable pursuant to the Recipient’s termination of employment, settlement of  the RSUs shall be delayed for a period of six months after the Recipient’s termination of  employment if the Recipient is a “specified employee” as defined under Code Section  409A(a)(2)(B)(i) and if required pursuant to Section 409A of the Code.  If settlement of the RSUs  is delayed, the RSUs shall be settled on the first day of the first calendar month following the end  of the six-month delay period.  If the Recipient dies during the six-month delay, the RSUs shall be  settled and paid to the Recipient’s designated beneficiary, legal representatives, heirs or legatees,  as applicable, as soon as practicable after the date of death.  Notwithstanding any provision to the  contrary herein, payments made with respect to this Conditional Grant may only be made in a  manner and upon an event permitted by Section 409A of the Code, and all payments to be made  upon a termination of employment hereunder may only be made upon a “separation from service,”  as such term is defined in Section 11.1 of the Plan.  Recipient shall not have any right to determine  a date of payment of any amount under this Agreement.  This Agreement may be amended without  the consent of the Recipient in any respect deemed by the Board or the Committee to be necessary  

 

  20  in order to preserve compliance with Section 409A of the Code.  If the Grant and this Agreement  is subject to Section 409A of the Code and the rules and regulations issued thereunder, and, except  as set forth in section 5(a), the vesting date shall be the “designated payment date” or “specified  date” under Treasury Regulation 1.409A-3(d).  13. Notices.  Unless otherwise provided in this Agreement, all notices by the Recipient  or the Recipient’s assignees shall be addressed to the Administrative Agent, Fidelity, through the  Recipient’s account at netbenefits.fidelity.com, or such other address as the Company may from  time to time specify.  All notices to the Recipient shall be addressed to the Recipient at the  Recipient’s address in the Company’s records.  14. Other Plans.  The Recipient acknowledges that any income derived from the  Conditional Grant shall not affect the Recipient’s participation in, or benefits under, any other  benefit plan or other contract or arrangement maintained by the Company or any Affiliate.  15. Terms of Employment.  The Plan is a discretionary plan.  The Recipient hereby  acknowledges that neither the Plan nor this Agreement forms part of the Recipient’s terms of  employment and nothing in the Plan may be construed as imposing on the Company or any  Affiliate a contractual obligation to offer participation in the Plan to any employee of the Company  or any Affiliate.  The Company or any Affiliate is under no obligation to make further Grants to  any Recipient under the Plan.  The Recipient hereby acknowledges that if the Recipient ceases to  be an employee of the Company or any Affiliate for any reason or no reason, the Recipient shall  not be entitled by way of compensation for loss of office or otherwise howsoever to any sum.  16. Data Protection.  By accepting this Agreement (whether by electronic means or  otherwise), the Recipient hereby consents to the holding and processing of personal data provided  by the Recipient to the Company for all purposes necessary for the operation of the Plan.  These  include, but are not limited to:  (a) administering and maintaining Recipient records;  (b) providing information to any registrars, brokers or third party administrators of the  Plan; and  (c) providing information to future purchasers of the Company or the business in which  the Recipient works.  17. Clawback Policy. If required by the Sarbanes-Oxley Act of 2002 and/or by the  Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, each Recipient’s Award  shall be conditioned on repayment or forfeiture in accordance with applicable law.  In addition,  the Company’s Executive Compensation Clawback Policy is hereby incorporated by reference and  shall form a part of this Agreement and each Recipient’s Award shall be subject to such Policy.   In connection with a material negative accounting restatement by the Company as the result of  fraud, intentional misconduct, or gross negligence by the Recipient, Awards and payments in  connection with Awards granted under this Agreement may be subject to recovery and Recipient  may be required to repay to the Company all or a portion of any Award or payments received in  connection with any Award hereunder.  In the event that the Company determines to seek recovery  with respect to an Award under this Agreement, an affected Recipient may elect to repay the  

 

  21  applicable clawback amount in cash or, if shares of Stock received pursuant to an affected Award  are still owned by the Recipient, in net after-tax shares of Stock received pursuant to the Award.   The date for determination of the value of the applicable compensation to be repaid shall be the  vesting date of the affected Award and the amount of any applicable repayment shall be determined  based upon the net after-tax amount realized by the Recipient as income on such vesting date,  applying the highest marginal tax rate for federal, state and local income taxes.  18. Severability.  If any provision of this Agreement is held invalid or unenforceable,  the remainder of this Agreement shall nevertheless remain in full force and effect, and if any  provision is held invalid or unenforceable with respect to particular circumstances, it shall  nevertheless remain in full force and effect in all other circumstances, to the fullest extent permitted  by law.  *****     

 

  22  Apache Corporation  Executive Compensation Clawback Policy      Should the Company’s reported financial or operating results be subject to a material negative  restatement as the result of fraud, intentional misconduct, or gross negligence of an executive  officer, the Company has the right to recover from such executive officer an amount corresponding  to any incentive award or portion thereof (including any cash bonus or equity-based award) that  the Company determines would not have been granted, vested, or paid had the Company’s results  as originally reported been equal to the Company’s results as subsequently restated.  The Company  will apply a three-year lookback period from the date of any such material negative restatement.   Subject to applicable law, the Company has the right to recover such amount by requiring the  executive officer to re-pay such amount to the Company by direct payment to the Company or  such other means or combination of means as the Company determines to be appropriate.    If the Company determines to seek a recovery pursuant to this policy, it shall make a written  demand for repayment from the executive officer and, if such person does not, within a reasonable  period of time following such demand, tender repayment in response to such demand, and the  Company determines that he or she is unlikely to do so, the Company may seek a court order  against the executive officer for such repayment.    The Company may not seek recovery to the extent it determines (i) that to do so would not be cost  effective or (ii) that it would be better for the Company not to do so. In making such determination,  the Company shall take into account such considerations as it deems appropriate, including,  without limitation, (A) the likelihood of success under governing law versus the cost and effort  involved, (B) whether the assertion of a claim may prejudice the interests of the Company,  including in any related proceeding or investigation, (C) the passage of time since the occurrence  of the act in the event of fraud or intentional illegal conduct, and (D) any pending legal proceeding  relating to such fraud or intentional illegal conduct.    This Policy applies to any incentive compensation for years commencing after the adoption of this  Policy.     

 

  23  Exhibit “A”apaexhibit1044202010-k

Exhibit 10.44  1  SCHEDULE A  Apache Corporation  Restricted Stock Unit Award Agreement       GRANT NOTICE  Recipient Name:  [Name]  Company:    Apache Corporation  Notice:  A summary of the terms of your grant of Restricted Stock Units  (“RSUs”) is set out in this notice (the “Grant Notice”) but subject  always to the terms of the Apache Corporation 2016 Omnibus  Compensation Plan (the “Plan”) and the Restricted Stock Unit  Award Agreement (the “Agreement”).  In the event of any  inconsistency between the terms of this Grant Notice, the terms of  the Plan and the Agreement, the terms of the Plan and the Agreement  shall prevail. The Grant is a Cash-Based Award under Section 10 of  the Plan and is subject to the provisions of the Plan governing RSUs.  You have been awarded a grant of Altus Midstream Company RSUs  in accordance with the terms of the Plan and the Agreement.  Details of the RSUs which you are entitled to receive is provided to  you in this Grant Notice and maintained on your account at  netbenefits.fidelity.com.  Type of Award:  Restricted Stock Unit(s)  Restricted Stock Unit:  A Restricted Stock Unit (“RSU”) under this Agreement means the  right granted to the Recipient to receive the cash equivalent of one  share of Stock (as defined below) for each RSU at the end of the  specified Vesting Period.  Stock: The $0.0001 par value Class A common stock of Altus Midstream  Company.  Grant:  A Grant related to ______ Restricted Stock Units.  Grant Date:   [Date]  Conditions:  The Recipient may elect, at the time of the grant, to have his or her  RSUs deferred into the Deferred Delivery Plan (the “DDP”) when  the RSUs vest, in which case the Recipient will receive the value of  

 

2  the RSUs in cash at the times specified pursuant to the DDP.  For  RSUs that are not deferred, once the RSU vests, the Recipient shall  be paid the value of his or her RSUs in cash (net of cash withheld  for applicable tax withholdings).  Vesting Period: RSUs granted shall vest (i.e., restrictions shall lapse) in accordance  with the following schedule (the “Vesting Period”), provided that  the Recipient remains employed as an Eligible Person as of such  vesting date:  First day of the month following the first anniversary of the Grant  Date – 1/3 vested.  Second anniversary of the Grant Date – an additional 1/3 vested.  Third anniversary of the Grant Date – an additional 1/3 vested.  Notwithstanding the foregoing, if the Recipient’s termination of  employment from the Company and the Affiliates occurs by reason  of his or her Retirement, the Recipient shall be deemed to continue  to be employed as an Eligible Person for purposes of this Grant and  shall continue to vest with respect to a specified percentage of RSUs  over the Vesting Period set forth above provided that the Recipient  meets the Retirement Conditions set forth in section 5 of the  Agreement.  Upon vesting (other than upon death or Disability), the applicable  amount of cash, subject to required tax withholding, shall be paid by  the Company to the Recipient within thirty (30) days of the vesting  date, unless the Recipient had elected to defer such RSUs into the  DDP, in which case the applicable amount of cash shall be paid to  the DDP on the vesting date and paid out according to the provisions  of the DDP.  Vesting is accelerated to 100% upon the Recipient’s death or  cessation of employment by reason of Disability while an Eligible  Person (or, only in the case of death, while treated as an Eligible  Person following Retirement as described above) during the Vesting  Period.  Upon vesting, the applicable amount of cash, subject to  required tax withholding, shall be paid by the Company to the  Recipient’s designated beneficiary, legal representatives, heirs, or  legatees, as applicable, in accordance with the terms of the Plan and  this Agreement.  The Recipient can name a beneficiary on a form  approved by the Committee.  Vesting is accelerated to 100% upon the Recipient’s Involuntary  Termination or Voluntary Termination with Cause occurring on or  after a Change of Control that occurs during the Vesting Period.   

 

3  With respect to a Recipient who continues to vest following his or  her termination due to Retirement, vesting is accelerated to 100%  upon a Change of Control that occurs during the Vesting Period and  on or after such termination by reason of Retirement.  With respect  to a Recipient who terminates employment by reason of Retirement  after a Change of Control, vesting is accelerated to 100% upon the  Recipient’s termination of employment by reason of Retirement.   Unless expressly otherwise provided in the Agreement with respect  to Retirement and Change of Control, the applicable amount of cash,  subject to required tax withholding, shall be paid by the Company  to the Recipient within thirty (30) days of the vesting date, unless  the Recipient had elected to defer such RSUs into the DDP, in which  case the applicable amount of cash shall be paid to the DDP on the  vesting date and paid out according to the provisions of the DDP.    Withholding: The Company and the Recipient will comply with all federal and  state laws and regulations respecting the required withholding,  deposit, and payment of any income, employment, or other taxes  relating to the Grant.  Dividends: The Company will credit each of the Recipient’s RSUs with  Dividend Equivalents.  For purposes of this Grant, a Dividend  Equivalent is an amount equal to the cash dividend payable per share  of Stock multiplied by the number of shares of Stock then  underlying such outstanding RSUs.  Such amount will be credited  to a book entry account on Recipient’s behalf at the time Altus  Midstream Company pays any cash dividend on its Stock.  The  Recipient’s rights in any such Dividend Equivalents will vest at the  same time as, and only to the extent that, the underlying RSUs vest  and will be distributed at the same time in cash (subject to applicable  withholdings), and only to the extent, as the related RSUs are to be  distributed to the Recipient as provided in the Agreement and to  which such Dividend Equivalents apply.  Acceptance:  Please complete the on-line grant acceptance as promptly as  possible to accept or reject your Grant.  You can access this through  your account at netbenefits.fidelity.com.  By accepting your Grant,  you will have agreed to the terms and conditions set forth in the  Agreement, including, but not limited to, the non-compete and non- disparagement provisions set forth in sections 5 and 6 of the  Agreement, and the terms and conditions of the Plan.  If you do not  accept your Grant, your RSUs will not vest and you will be unable  to receive your RSUs.  

 

4  Apache Corporation  Restricted Stock Unit Award Agreement  This Restricted Stock Unit Award Agreement (the “Agreement”) relating to a grant of  Restricted Stock Units is a Cash-Based Award under Section 10 of the Apache Corporation 2016  Omnibus Compensation Plan (the “Plan”) (the “Grant”), dated as of the Grant Date set forth in the  Notice of Award under the Agreement attached as Schedule A hereto (the “Grant Notice”), and is  made between Apache Corporation (together with its Affiliates, the “Company”) and each  Recipient. The Grant Notice is included in and made part of this Agreement.  In this Agreement and each Grant Notice, unless the context otherwise requires, words and  expressions shall have the meanings given to them in the Plan except as herein defined.  Definitions  “409A Change of Control” means a Change of Control that constitutes, with respect to  Apache Corporation, a “change in the ownership or effective control of the corporation, or in the  ownership of a substantial portion of the assets of the corporation” within the meaning of Section  409A(a)(2)(A)(v) of the Internal Revenue Code of 1986, as amended (the “Code”) and Treasury  Regulations Section 1.409A-3(i)(5).  “Disability” or “Disabled” means the Recipient is unable to engage in any substantial  gainful activity by reason of any medically determinable physical or mental impairment which can  be expected to result in death or which has lasted or can be expected to last for a continuous period  of not less than 12 months. Recipient agrees that a final and binding determination of “Disability”  will be made by the Company’s representative under the Company’s group long-term disability  plan or any successor thereto or, if there is no such representative and there is a dispute as to the  determination of “Disability,” it will be decided in a court of law in Harris County, Texas.  “Grant Notice” means the separate notice given to each Recipient specifying the number  of RSUs granted to the Recipient (the “Grant”).  “Fair Market Value” means the fair market value of a share of the Stock as determined by  the Committee by the reasonable application of such reasonable valuation method, consistently  applied, as the Committee deems appropriate; provided, however, that if the Committee has not  made such determination, such fair market value shall be the per share closing price of the Stock  as reported on Nasdaq or on such other exchange or electronic trading system as, on the date in  question, reports the largest number of traded shares of stock; provided further, however, that if  there are no Stock transactions on such date, the Fair Market Value shall be determined as of the  immediately preceding date on which there were Stock transactions.  “Involuntary Termination” means the termination of employment of the Recipient by the  Company or its successor for any reason on or after a Change of Control; provided, that the  termination does not result from an act of the Recipient that (i) constitutes common-law fraud, a  felony, or a gross malfeasance of duty and (ii) is materially detrimental to the best interests of the  Company or its successor.  

 

5  “Payout Amount” means the vested portion of the Grant expressed as an amount of cash  equal to the Fair Market Value of the shares of Stock underlying the RSUs and related Dividend  Equivalents.  “Recipient” means an Eligible Person designated by the Committee at the Grant Date to  receive one or more Grants under the Plan.  “Retirement” means, with respect to a Recipient and for purposes of this Agreement, the  date the Recipient terminates employment with the Company after attaining (i) age 55 and (ii) a  certain combination of age and Years of Service set forth in the Matrix in Exhibit “A” attached  hereto.  “Years of Service” means the total number of months from the Recipient’s date of hire by  the Company to the date of termination of employment, plus any months required to be recognized  under an appropriate acquisition agreement, divided by 12.  “Voluntary Termination with Cause” occurs upon a Recipient’s separation from service of  his or her own volition and one or more of the following conditions occurs without the Recipient’s  consent on or after a Change of Control:  (a) There is a material diminution in the Recipient’s base compensation,  compared to his or her rate of base compensation on the date of the Change  of Control.  (b) There is a material diminution in the Recipient’s authority, duties or  responsibilities.  (c) There is a material diminution in the authority, duties or responsibilities of  the Recipient’s supervisor, such as a requirement that the Recipient (or his  or her supervisor) report to a corporate officer or employee instead of  reporting directly to the board of directors.  (d) There is a material diminution in the budget over which the Recipient  retains authority.  (e) There is a material change in the geographic location at which the Recipient  must perform his or her service, including, for example the assignment of  the Recipient to a regular workplace that is more than 50 miles from his or  her regular workplace on the date of the Change of Control.  The Recipient must notify the Company of the existence of one or more adverse conditions  specified in clauses (a) through (e) above within 90 days of the initial existence of the  adverse condition.  The notice must be provided in writing to the Company or its successor,  attention: Vice President, Human Resources.  The notice may be provided by personal  delivery or it may be sent by email, inter-office mail, regular mail (whether or not certified),  fax, or any similar method.  The Company’s Vice President, Human Resources, or his/her  delegate shall acknowledge receipt of the notice within 5 business days; the  acknowledgement shall be sent to the Recipient by certified mail.  Notwithstanding the  

 

6  foregoing provisions of this definition, if the Company remedies the adverse condition  within 30 days of being notified of the adverse condition, no Voluntary Termination with  Cause shall occur.  Terms  1. Grant of RSUs.  Subject to the provisions of this Agreement and the provisions of  the Plan and Grant Notice, the Company shall grant to the Recipient, pursuant to the Plan, a right  to receive the number of RSUs set forth in the Recipient’s Grant Notice.  The Grant shall give the  Recipient the right, upon vesting, to receive an amount in cash equal to the Fair Market Value of  an equal number of shares of $0.0001 par value Class A common stock of Altus Midstream  Company (“Stock”) to that of the number of RSUs set forth in the Recipient’s Grant Notice.  At  the time of the Grant, the Recipient may elect to defer all or any portion of the RSUs in the Deferred  Delivery Plan (the “DDP”).  2. Vesting and Payment of Cash.  Subject to the provisions of sections 3 and 4 of this  Agreement, the entitlement to receive an amount of cash equal to the Fair Market Value of the  number of shares of Stock pursuant to the RSUs comprising the Grant Amount shall vest in  accordance with the schedule set forth in the Grant Notice (the “Vesting Period”); provided that  the Recipient remains employed as an Eligible Person on such applicable vesting dates.  Unless  the Recipient elected to defer the RSU into the DDP, such cash, subject to applicable withholding,  shall be paid by the Company to the Recipient within thirty (30) days of the vesting date (other  than upon death or Disability).  To the extent that the Recipient elected to defer the RSUs into the  DDP and sections 3 and 4 do not apply, when the RSUs vest, an amount of cash equal to the Fair  Market Value of the number of shares of Stock that have vested pursuant to the RSUs comprising  the Grant Amount shall be paid to the DDP and paid thereafter to the Recipient as specified under  the terms of the DDP.  3. Termination of Employment, Retirement, Death, or Disability.  Except as set forth  below in this section 3 and in section 4 of this Agreement, each Grant shall be subject to the  condition that the Recipient has remained an Eligible Person from the award of the Grant of RSUs  until the applicable vesting date as follows:  (a) If the Recipient voluntarily leaves the employment of the Company (other than for  reason of Retirement), or if the employment of the Recipient is terminated by the Company for  any reason or no reason, any RSUs granted to the Recipient pursuant to the Grant Notice not  previously vested shall thereafter be void and forfeited for all purposes.  (b) If the Recipient leaves the employment of the Company by reason of Retirement,  the RSUs granted to the Recipient pursuant to the Grant Notice not previously vested shall continue  to vest following the Recipient’s termination of employment by reason of Retirement as if the  Recipient remained an Eligible Person in the employ of the Company, provided that such Recipient  shall be entitled to continue vesting only if such Recipient satisfies the Retirement Conditions set  forth in section 5 below (except in the case of death) and only with respect to the specified  percentage of such unvested RSUs set forth in Exhibit “A” for a certain combination of age and  Years of Service attained by the Recipient as of the Recipient’s Retirement under the Matrix set  forth in Exhibit “A”.  

 

7  (c) A Recipient shall become 100% vested in all RSUs under the Grant Notice on the  date the Recipient dies while employed by the Company regardless whether Recipient has accepted  the Grant, or on the date the Recipient is no longer employed by the Company by reason of  Disability, or, only in the case of death, while continuing to vest pursuant to section 3(b) of this  Agreement.  Payment shall be made as soon as administratively practicable, but in no event (i) in  the case of death, shall the payment occur later than the last day of the calendar year following the  calendar year in which such death occurs or (ii) in the case of cessation of employment by reason  of Disability, shall the payment occur later than thirty (30) days following the date the Recipient  is determined to be Disabled and is no longer employed by the Company.  If clause (ii) is  applicable and the period from the date on which the Recipient is determined to be Disabled and  is no longer employed by the Company to the date under clause (ii) spans two consecutive calendar  years, payment shall be made in the second calendar year of such consecutive calendar years.  Such  payment shall be made to the Recipient’s designated beneficiary, legal representatives, heirs, or  legatees, as applicable.  Each Recipient may designate a beneficiary on a form approved by the  Committee.  4. Change of Control.  Pursuant to Section 13.1(c)(iii) and (d) of the Plan, the  following provisions of this section 4 of the Agreement shall supersede Sections 13.1(a), (b) and  (c) of the Plan.  Without any further action by the Committee or the Board, in the event of a  Recipient’s Involuntary Termination or Voluntary Termination with Cause occurring on or after a  Change of Control during the Vesting Period, the Recipient shall become 100% fully vested in the  unvested RSUs granted to the Recipient pursuant to the Grant Notice as of the date of his or her  Involuntary Termination or Voluntary Termination with Cause. Subject to section 11(b) of this  Agreement, payment shall occur within thirty (30) days following the date of such Involuntary  Termination or Voluntary Termination with Cause, subject to required tax withholding. Further,  in the event of a Change of Control following the Recipient’s termination of employment by reason  of Retirement while the Recipient is continuing to vest in the RSUs pursuant to section 3(b) of this  Agreement, the Recipient shall become 100% fully vested in the unvested RSUs granted to the  Recipient pursuant to the Grant Notice as of the date of the Change of Control (including those  excluded by the specified percentage set forth in Exhibit “A”). Subject to section 11(b) of this  Agreement, the Recipient, if the Recipient terminates employment on account of Retirement prior  to the occurrence of a Change of Control, shall receive payment with respect to 100% of the fully  vested RSUs within thirty (30) days of the date of a 409A Change of Control, or if the Change of  Control is not a 409A Change of Control, on the remaining vesting dates during the Vesting Period  in the amount of 1/3 (on each of the remaining vesting dates) of the RSUs awarded as of the Grant  Date, subject to required tax withholding.  Further still, in the event of a Change of Control prior  to the Recipient’s termination of employment by reason of Retirement during the Vesting Period,  the Recipient shall become 100% fully vested in the unvested RSUs granted to the Recipient  pursuant to the Grant Notice as of the date the Recipient terminates employment by reason of  Retirement (including those excluded by the specified percentage set forth in Exhibit “A”).  For  the purpose of vesting as set forth in the prior sentence, a Recipient’s Involuntary Termination or  Voluntary Termination with Cause after a Change of Control shall be deemed a termination by  reason of Retirement.  Subject to section 11(b) of this Agreement, the Recipient, who terminates  employment by reason of Retirement after a Change of Control, shall receive payment with respect  to 100% of the fully vested RSUs on the remaining vesting dates during the Vesting Period in the  amount of 1/3 (on each of the remaining vesting dates) of the RSUs awarded as of the Grant Date,  subject to required tax withholding.  

 

8  5. Conditions to Post-Retirement Vesting.  If the Recipient has attained age 55 and a  certain combination of age and Years of Service set forth in the Matrix in Exhibit “A” attached  hereto and terminates employment with the Company and the Affiliates by reason of Retirement,  it is agreed by the Company and the Recipient that:  (a) subject to the provisions of this section 5(a) and sections 5(b) and 5(c), such  Recipient shall continue to vest in the specified percentage of unvested RSUs set forth in Exhibit  “A”, for the combination of age and Years of Service attained by such Recipient as of his or her  Retirement under the Matrix set forth in Exhibit “A”, following the date of his or her termination  by reason of Retirement as if the Recipient continued in employment as an Eligible Person  provided that the Grant Date of the unvested RSUs is prior to such termination date in an amount  of time which allows the Recipient to provide the written notice as follows and the Recipient has  provided advance written notice not before three (3) months following the Grant Date and not less  than the number of months prior to such termination date as set forth in the Schedule below to  Apache Corporation’s Vice President, Human Resources, or his or her delegate, and to his or her  direct manager, regarding the Recipient’s intent to terminate employment for reason of Retirement;  provided, however, a Recipient who is at least age 55 and attained the necessary combination of  age and Years of Service under the Matrix set forth in Exhibit “A” for Retirement need not provide  such advance written notice of his or her intent to terminate employment by reason of Retirement  if the Company elects to require such Recipient to, or (as part of a reduction in force or otherwise  in writing in exchange for a written release) offers such Recipient the opportunity to, terminate  employment with the Company by reason of Retirement:   Age  Advance Written Notice  65 or older  3 months  between (and including) 55 and 64  6 months    ; and it is further agreed that  (b) in consideration for the continued vesting treatment afforded to the Recipient under  section 5(a), Recipient shall, during the continuing Vesting Period after Retirement (the  “Continued Vesting Period”), refrain from becoming employed by, or consulting with, or  becoming substantially involved in the business of, any business that competes with the Company  or its Affiliate in the business of exploration or production of oil or natural gas wherever from time  to time conducted throughout the world (a “Competitive Business”) and Recipient shall provide to  the Company, upon Company’s request, (x) a written certification, in a form provided by or  satisfactory to the Company, as to Recipient’s compliance with the forgoing conditions and/or (y)  his/her U.S. Individual Income Tax Return for any return filed by the Recipient which relates to  any time during the Continued Vesting Period to allow the Company to verify that Recipient has  complied with the foregoing conditions; provided, that the Recipient may purchase and hold for  investment purposes less than five percent (5%) of the shares of any Competitive Business whose  shares are regularly traded on a national securities exchange or inter-dealer quotation system, and  provided further, that the Recipient may provide services solely as a director of any Competitive  Business whose shares are regularly traded on a national securities exchange or inter-dealer  quotation system if, during the Continued Vesting Period, (i) the Recipient only attends board and  board committee meetings, votes on recommendations of management, and discharges his/her  

 

9  fiduciary obligations under the law and (ii) the Recipient is not involved in, and does not advise  or consult on, the marketing, government relations, customer relations, or the day-to-day  management, supervision, or operations of such Competitive Business; and it is further agreed that    (c) in consideration for the continued vesting treatment afforded to the Recipient under  section 5(a), Recipient shall, during the Continued Vesting Period, refrain from making, or causing  or assisting any other person to make, any oral or written communication to any third party about  the Company, any Affiliate and/or any of the employees, officers or directors of the Company or  any Affiliate which impugns or attacks, or is otherwise critical of, the reputation, business or  character of such entity or person; or that discloses private or confidential information about their  business affairs; or that constitutes an intrusion into their seclusion or private lives; or that gives  rise to unreasonable publicity about their private lives; or that places them in a false light before  the public; or that constitutes a misappropriation of their name or likeness.    Notwithstanding the foregoing provisions of this section 5 of the Agreement, (i) in the event that  the Recipient fails to satisfy any of the conditions set forth in sections 5(a), (b) and (c) above, the  Recipient shall not be entitled to vest in any unvested RSUs after the date of Retirement and the  unvested RSUs subject to this Agreement shall be forfeited and (ii) the Recipient shall not have  any right to continue to vest upon Retirement in any future awards granted under the Plan once the  Recipient provides the notice of Retirement as set forth in section 5(a) above.   6. Prohibited Activity.  In consideration for this Grant and except as permitted under  section 5(b) above, the Recipient agrees not to engage in any “Prohibited Activity” while employed  by the Company or within three years after the date of the Recipient’s termination of  employment.  A “Prohibited Activity” will be deemed to have occurred, as determined by the  Committee in its sole and absolute discretion, if the Recipient (i) divulges any non-public,  confidential or proprietary information of the Company, but excluding information that (a)  becomes generally available to the public other than as a result of the Recipient’s public use,  disclosure, or fault, or (b) becomes available to the Recipient on a non-confidential basis after the  Recipient’s employment termination date from a source other than the Company prior to the public  use or disclosure by the Recipient, provided that such source is not bound by a confidentiality  agreement or otherwise prohibited from transmitting the information by contractual, legal or  fiduciary obligation; (ii) directly or indirectly, consults with or becomes affiliated with, participate  or engage in, or becomes employed by any business that is competitive with the Company,  wherever from time to time conducted throughout the world, including situations where the  Recipient solicits or participates in or assists in any way in the solicitation or recruitment, directly  or indirectly, of any employees of the Company; or (iii) engages in publishing any oral or written  statements about the Company, and/or any of its directors, officers, or employees that are  disparaging, slanderous, libelous, or defamatory; or that disclose private or confidential  information about their business affairs; or that constitute an intrusion into their seclusion or  private lives; or that give rise to unreasonable publicity about their private lives; or that place them  in a false light before the public; or that constitute a misappropriation of their name or likeness.    7. Payment and Tax Withholding.  Upon receipt of any entitlement to cash under this  Agreement and, if applicable, upon the Recipient’s attainment of eligibility to terminate  employment by reason of Retirement pursuant to section 3(b), the Recipient shall make appropriate  arrangements with the Company to provide for the amount of minimum tax and social security  

 

10  withholding, if any, required by law, including without limitation Sections 3102 and 3402 or any  successor section(s) of the Internal Revenue Code and applicable state and local income and other  tax laws.  The payment of a Payout Amount shall be based on the Fair Market Value of the shares  of Stock on the applicable date of vesting to which such tax withholding relates.  Where  appropriate, cash shall be withheld by the Company to satisfy applicable tax withholding  requirements rather than paid directly to the Recipient.  8. Non-Transferability of Grant.  A Grant shall not be transferable otherwise than by  testamentary will or the laws of descent and distribution, or in accordance with a valid beneficiary  designation on a form approved by the Committee, subject to the conditions and exceptions set  forth in Section 15.2 of the Plan.  9. No Right to Continued Employment.  Neither the RSUs or the cash payment  pursuant to a Grant nor any terms contained in this Agreement shall confer upon the Recipient any  express or implied right to be retained in the employment or service of the Company for any period,  nor restrict in any way the right of the Company, which right is hereby expressly reserved, to  terminate the Recipient’s employment or service at any time for any reason or no reason.  The  Recipient acknowledges and agrees that any right to receive RSUs or cash pursuant to a Grant is  earned only by continuing as an employee of the Company at the will of the Company, or  satisfaction of any other applicable terms and conditions contained in the Plan and this Agreement,  and not through the act of being hired, being granted the Grant, or acquiring RSUs or cash pursuant  to the Grant hereunder.  10. The Plan.  In consideration for this Grant, the Recipient agrees to comply with the  terms of the Plan and this Agreement.  This Agreement is subject to all the terms, provisions and  conditions of the Plan, which are incorporated herein by reference, and to such regulations as may  from time to time be adopted by the Committee.  The Grant is a Cash-Based Award under Section  10 of the Plan and is subject to the provisions of the Plan governing RSUs.  Unless defined herein,  capitalized terms are used herein as defined in the Plan.  In the event of any conflict between the  provisions of the Plan and this Agreement, the provisions of the Plan shall control, and this  Agreement shall be deemed to be modified accordingly.  The Plan and the prospectus describing  the Plan can be found on the Company’s HR intranet and the Plan document can be found on  Fidelity’s website (netbenefits.fidelity.com).  A paper copy of the Plan and the prospectus shall be  provided to the recipient upon the Recipient’s written request to the Company at 2000 Post Oak  Blvd., Suite 100, Houston, Texas 77056-4400, Attention: Corporate Secretary.  11. Compliance with Laws and Regulations.  (a) The Grant and any obligation of the Company to deliver RSUs and cash hereunder  shall be subject in all respects to (i) all applicable laws, rules and regulations and (ii) any  registration, qualification, approvals or other requirements imposed by any government or  regulatory agency or body which the Committee shall, in its discretion, determine to be necessary  or applicable.  (b) This Grant is intended to comply with, or be exempt from, the applicable  requirements of Section 409A of the Code and the rules and regulations issued thereunder and  shall be administered accordingly.  Notwithstanding anything in this Agreement to the contrary, if  

 

11  the RSUs constitute “deferred compensation” under Section 409A of the Code and any RSUs  become payable pursuant to the Recipient’s termination of employment, settlement of the RSUs  shall be delayed for a period of six months after the Recipient’s termination of employment if the  Recipient is a “specified employee” as defined under Code Section 409A(a)(2)(B)(i) and if  required pursuant to Section 409A of the Code.  If settlement of the RSU is delayed, the RSUs  shall be settled on the first day of the first calendar month following the end of the six-month delay  period.  If the Recipient dies during the six-month delay, the RSUs shall be settled and paid to the  Recipient’s designated beneficiary, legal representatives, heirs or legatees, as applicable, as soon  as practicable after the date of death.  Notwithstanding any provisions to the contrary herein,  payments made with respect to this Grant may only be made in a manner and upon an event  permitted by Section 409A of the Code, and all payments to be made upon a termination of  employment hereunder may only be made upon a “separation from service”, as such term is  defined in Section 11.1 of the Plan.  Recipient shall not have any right to determine a date of  payment of any amount under this Agreement. This Agreement may be amended without the  consent of the Recipient in any respect deemed by the Board or the Committee to be necessary in  order to preserve compliance with Section 409A of the Code. If the Grant and this Agreement is  subject to Section 409A of the Code and the rules and regulations issued thereunder, then the  vesting date shall be the “designated payment date” or “specified date” under Treasury Regulation  1.409A-3(d).  12. Notices.  Unless otherwise provided in this Agreement, all notices by the Recipient  or the Recipient’s assignees shall be addressed to the Administrative Agent, Fidelity, through the  Recipient’s account at netbenefits.fidelity.com, or such other address as the Company may from  time to time specify.  All notices to the Recipient shall be addressed to the Recipient at the  Recipient’s address in the Company’s records.  13. Other Plans.  The Recipient acknowledges that any income derived from the Grant  shall not affect the Recipient’s participation in, or benefits under, any other benefit plan or other  contract or arrangement maintained by the Company or any Affiliate.  14. Terms of Employment.  The Plan is a discretionary plan.  The Recipient hereby  acknowledges that neither the Plan nor this Agreement forms part of the Recipient’s terms of  employment and nothing in the Plan may be construed as imposing on the Company or any  Affiliate a contractual obligation to offer participation in the Plan to any employee of the Company  or any Affiliate.  The Company or any Affiliate is under no obligation to make further Grants to  any Recipient under the Plan.  The Recipient hereby acknowledges that if the Recipient ceases to  be an employee of the Company or any Affiliate for any reason or no reason, the Recipient shall  not be entitled by way of compensation for loss of office or otherwise howsoever to any sum.  15. Data Protection.  By accepting this Agreement (whether by electronic means or  otherwise), the Recipient hereby consents to the holding and processing of personal data provided  by the Recipient to the Company for all purposes necessary for the operation of the Plan.  These  include, but are not limited to:  (a) administering and maintaining Recipient records;  (b) providing information to any registrars, brokers or third party administrators of the  Plan; and  

 

12  (c) providing information to future purchasers of the Company or the business in which  the Recipient works.    16. Severability.  If any provision of this Agreement is held invalid or unenforceable,  the remainder of this Agreement shall nevertheless remain in full force and effect, and if any  provision is held invalid or unenforceable with respect to particular circumstances, it shall  nevertheless remain in full force and effect in all other circumstances, to the fullest extent permitted  by law.  *****     

 

13  Exhibit “A”

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