Document:

EX-10.1

 Exhibit 10.1 

SECOND AMENDED AND RESTATED EMPLOYMENT AGREEMENT 

This Second Amended and Restated Employment Agreement (“Agreement”), is made and entered into as on the 21st day of
July, 2017 (the “Effective Date”) between Crestwood Operations LLC, a Delaware limited liability company (“Employer”), and Heath Deneke (“Employee”), and amends and restates in
its entirety the Amended and Restated Employment agreement entered into by and between Employer and Employee dated August 28, 2015 (the “Prior Employment Agreement”). 

W I T N E S S E T H: 

WHEREAS, Employer and Employee desire to amend and restate the Prior Employment Agreement in its entirety, and Employer desires to
employ Employee, and Employee desires to be employed by Employer, pursuant to the terms and conditions set forth in this Agreement; 

NOW, THEREFORE, for and in consideration of the mutual promises, covenants, and obligations contained herein, Employer and Employee
agree as follows: 
 SECTION 1: EMPLOYMENT AND DUTIES. 

1.1     Employer agrees to employ Employee, and Employee agrees to be employed solely by Employer, beginning as of the
Effective Date and, except as set forth below, continuing through December 31, 2017 (the “Initial Term”), unless earlier terminated pursuant to Section 3 of this Agreement. Following expiration of the Initial
Term, this Agreement will be automatically renewed for successive 1-year terms following the Initial Term (each, a “Renewal Term” and, together with the Initial Term, the “Term”) unless either party
gives the other party no less than 30 days’ written notice prior to the expiration of the Term of such Party’s intent not to renew the Agreement (a “Notice of Non-Renewal”). Notwithstanding the foregoing, the Term
(including any Renewal Terms) and Employee’s employment pursuant to this Agreement may be terminated at any time as set forth below, subject to the terms of this Agreement. At the expiration of the Term following delivery of a Notice of
Non-Renewal, Employee’s employment with Employer (and any affiliates or assignees of Employer) shall terminate, and this Agreement shall have no further force or effect except with respect to Employee’s obligations pursuant to
Section 3.5. 
 1.2     Beginning as of the Effective Date, Employee shall be employed as Chief Operating
Officer and Executive Vice-President of Employer and shall, within forty-five (45) days after the Effective Date, be designated as a member of the Office of the Chairman. Employee shall also serve in such other executive capacities as may be
reasonably requested from time to time by Employer or the Board of Directors (the “Board”) of the Employer, and shall report directly to the Chief Executive Officer of the Employer (which individual is also the principal
executive officer responsible for the publicly traded entity, Crestwood Equity Partners, L.P.) (the “CEO”). Employee agrees to perform diligently and to the best of Employee’s abilities, and in a trustworthy, competent,
businesslike, and efficient manner, the duties and services pertaining to any such position as reasonably determined by Employer, as well as such additional or different duties and services that Employee from time to time may be reasonably directed
to perform by Employer, including, without limitation, leading monthly commercial and operational management meetings and attending weekly finance and accounting meetings, and 

  
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participating in meetings of the Board of Directors of Crestwood Equity GP, LLC (provided that Employee shall not be permitted to participate in private, executive sessions of such meetings).
Employee shall, during the period of Employee’s employment by Employer, devote Employee’s full business time, energy, and best efforts to the business and affairs of Employer. 

1.3     Within thirty (30) days after the Effective Date, Employee shall be appointed to the Management Committee of
Crestwood Holdings Partners LLC, a Delaware limited liability company, and shall serve in such capacity, and shall be permitted to participate in any meetings of such committee, during the Term. 

1.4     Employee shall at all times comply with and be subject to such policies and procedures that Employer may establish
from time to time for Employer’s executives and employees, including, without limitation, Employer’s Code of Business Conduct as adopted by Employer and as amended from time to time (the “Code of Business Conduct”).

 1.5     Except with the advance written permission of the Board and with respect to Employee’s existing
directorships identified on Exhibit A hereto, Employee may not engage or participate, directly or indirectly, in any other business, investment, or activity that (a) could interfere with Employee’s performance of Employee’s duties
hereunder, (b) is contrary to the best interests of Employer, Crestwood Equity Partners, LP, Crestwood Midstream Partners, LP (“Crestwood Midstream”), or any of their respective subsidiaries (each a “Related
Entity”), or (c) requires any significant portion of Employee’s business time. Notwithstanding the foregoing, the parties recognize that Employee may engage in passive personal investments and other non-competitive
business activities that do not conflict with the business and affairs of Employer or any Related Entities or materially interfere with Employee’s performance of Employee’s duties hereunder; provided, that with the exception of any
civic, charitable, or educational boards or committees that do not unreasonably interfere with Employee’s performance of Employee’s duties hereunder and with respect to the existing directorships identified on Exhibit A hereto, Employee
may not serve as a manager or on the board of directors or similar body of any entity other than Employer or a Related Entity during the Term without prior approval therefor by the Board. 

1.6     Employee acknowledges and agrees that Employee has a fiduciary duty of loyalty, fidelity, and allegiance to act at
all times in the best interests of Employer and the other Related Entities and to do no act that could, directly or indirectly, injure any such entity’s business, interests, or reputation. In furtherance of the foregoing, Employee shall present
to the Employer all material business opportunities or ventures known to Employee, independently or with others, that are within the purposes of Employer or any Related Entity, including, without limitation, opportunities that may compete with
Employer or a Related Entity or could reasonably be expected to be implemented by Employer or a Related Entity. It is agreed that any direct or indirect interest in connection with, or any benefit from, any outside activities, particularly
commercial activities, which might in any way adversely affect Employer or any of the Related Entities involves a possible conflict of interest. In keeping with Employee’s fiduciary duties to Employer, Employee agrees that during the employment
relationship Employee shall not knowingly become involved in a conflict of interest with Employer or any of the Related Entities, whether directly or indirectly through a spouse or other family member, or upon discovery thereof, allow such a
conflict to continue. Moreover, Employee agrees that Employee shall disclose to the Employer any facts which might involve such a conflict of interest that has not been approved in writing by the Employer. 

  
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 SECTION 2: COMPENSATION AND BENEFITS. 

2.1     Employee’s base salary during the Term shall be Five Hundred Twenty-Five Thousand Dollars ($525,000) per
annum, subject to increase at the discretion of the Board (“Base Salary”). Employee shall also receive Ten Thousand Dollars ($10,000) per annum as additional compensation, which shall be in addition to the Base Salary
(“Additional Compensation”). Both the Base Salary and Additional Compensation shall be paid in accordance with Employer’s standard payroll practice. In addition to the Base Salary, Employee shall be eligible to be
considered for a target bonus (a “Bonus”) in each calendar year during the Term, payable in accordance with and pursuant to Employer’s then-current bonus plan (“Bonus Plan”). For the 2017 bonus
year, the target bonus for Employee will be equal to 125% of his Base Salary and shall be subject to such terms and conditions as are established by the Board (including, if applicable, its Compensation Committee) for awards of equity compensation
made to similarly situated executives of the Employer. Thereafter, the target bonus for Employee will be comparable to the bonus opportunity provided to similarly situated executives of the Employer. The Bonus Plan will be implemented and
administered by the Board, and any Bonuses payable thereunder shall be based upon a number of factors determined and set by the Board in its sole discretion. Such factors may include, but not be limited to, the achievement by Employer of certain
performance objectives, and the operation of Employer within the budgets approved by the Board. Employee must be employed by Employer at the time a Bonus is declared as a condition of receiving any such Bonus. 

2.2     During the Term, Employee shall be eligible to receive annual awards under the terms of the Company’s then
applicable equity incentive plan (the “Equity Plan”). For the 2018 grant cycle, the Employee shall (i) receive an award of restricted units, with a total target equity grant level for Employee equal to 275% of his Base Salary, and
(ii) be eligible to receive awards of performance units comparable to the awards made to similarly situated executives of the Employer as determined by the Board, with a potential payout range from fifty percent (50%) to two hundred
percent (200%) based on attainment of designated performance factors. These restricted units and performance units shall be subject to such terms and conditions as are established by the Board (including, if applicable, its Compensation
Committee) for awards of equity compensation made to similarly situated executives of the Employer. Thereafter, the target grant level for Employee will be comparable to the level of equity granted to similarly situated executives of the Employer,
provided such grants shall be made at the discretion of the Board. Equity awards granted to Employee under the Equity Plan shall include provisions that provide for accelerated vesting in the event of a Change in Control, upon termination of
Employee’s employment by the Employer without Cause, or upon Employee’s resignation with Employee Cause (for purposes of this Section 2.2 only, each of “Change in Control,” “Cause” and “Employee
Cause” to be as such terms are defined in the respective award agreements). 
 2.3     In consideration of
Employee’s entering into this Agreement and as compensation for his ongoing service, the Company shall issue 75,000 restricted units to Employee which shall become vested on June 30, 2020. In addition, if, on or before July 1, 2019,
there is a Change in Control (as defined below), the Company shall issue 125,000 restricted units to Employee, which amount shall be fully vested on their issuance date. 

  
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 2.4     During the Term, Employer shall pay or reimburse Employee for all
reasonable and customary business and professional development expenses actually incurred by Employee during the Term in the course of Employee’s employment; provided that such expenses are incurred and accounted for in accordance with
Employer’s applicable policies and procedures. Employer shall provide to Employee officer/director liability insurance coverage to cover any claims that may be made arising from Employee’s past, present, or future activities on behalf of
Employer or any Related Entity, in the same manner and of the same kind as such insurance is provided to the other officers and directors of Employer. 

2.5     During the Term, Employer shall furnish Employee with such fringe benefit programs that are maintained by Employer
and that are made available to Employer’s management generally, under the same terms as those provided to Employer’s management generally. Employee shall bear any tax effects or obligations stemming from any such policies and programs or
their amounts. 
 2.6     Employee acknowledges that Employee shall have no vested rights under or in respect of
Employee’s participation in any employee benefit program, plan, or coverage except as expressly provided under the terms thereof. Notwithstanding anything in this Agreement, it is specifically understood and agreed that Employer shall not be
obligated to institute, maintain, or refrain from changing, amending, or discontinuing any employee benefit program, plan, or coverage applicable to Employee, so long as any such actions or inactions in this regard by Employer are similarly
applicable to covered executive employees of Employer generally. 
 2.7     Employee shall be entitled to six
(6) weeks of paid vacation per calendar year, to be provided in accordance with Employer’s standard policy and to be taken at such time as mutually agreed by Employee and Employer. 

SECTION 3: TERMINATION OF EMPLOYMENT AND EFFECTS OF SUCH 

TERMINATION. 

3.1     Termination Generally. Employee’s employment with Employer (a) shall be terminated prior to the
end of the Term (i) upon the death of Employee, or (ii) upon Employee’s Permanent Disability (as defined below), and (b) may be terminated prior to the end of the Term (i) at any time by Employer upon notice to Employee,
(ii) at any time by Employee upon thirty (30) days’ prior written notice to Employer, or (iii) at any time by Employee if Employee has Employee Cause and complies with the notice procedures described below. The date of
termination is referred to herein as the “Termination Date.” 
 3.2     Bad Leaver
Termination. If Employee’s employment is terminated under any of the circumstances set forth in Section 3.2(a), Employee shall be entitled to receive only the benefits set forth
in Section 3.2(b) below: 
 (a)     Bad Leaver Conditions. 

(i)     Termination by Employer for Employer Cause. Employer termination of Employee’s employment for
“Employer Cause”shall mean termination by Employer for any of the following: if Employee (a) has been indicted or convicted of, or has entered a plea of guilty or nolo contendere to, a felony charge or crime involving
moral turpitude, 

  
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or, in the course of Employee’s employment has engaged in fraudulent or criminal activity (whether or not prosecuted), (b) has failed to follow reasonable directions of Employer,
provided that the foregoing failure shall not be “Employer Cause” if Employee in good faith believes that such direction is illegal and promptly so notifies the Board, (c) has failed to devote all of Employee’s professional time
to the Employer and affiliates of Employer, except as permitted by the Employer, (d) has materially breached any policy or code of conduct of the Employer, (e) has materially breached any provision of this Agreement or any other agreement
between Employee and the Employer or Related Entity, (f) has received a kickback or rebate of any fee or expense paid by Employer, (g) has engaged in the use of illegal drugs, the persistent excessive use of alcohol, or any other activity
that materially impairs Employee’s ability to perform Employee’s duties hereunder or results in conduct bringing Employer or any Related Entity into substantial public disgrace or disrepute, or (h) engages in intentional, reckless, or
grossly negligent conduct that has or is reasonably likely to have a material adverse effect on Employer or any Related Entity; provided, however, that with respect to subsections (c), (d) and (e) of this
Section 3.2(a)(i), the Board may elect, in its sole discretion, to allow Employee a period of time as determined by the Board to cure the act, conduct or event constituting Employer Cause under such subsections. 

(ii)     Employee Resignation. Employee resigns for any reason other than having Employee Cause (as defined below
in Section 3.3(a)(i)). 
 (b)     Bad Leaver Consequences.  

(i) Employee shall be entitled to receive, within 30 days of the Termination Date or such shorter period as may be required by applicable
state law, any Base Salary that was accrued (on a pro rata basis) but unpaid as of the Termination Date (“Accrued Salary”) and such other benefits provided to Employee pursuant to the terms of Employer’s employee benefit
plans (which, for the avoidance of doubt, does not include any Bonus payments) that were accrued by Employer in its books and records, but not forfeited, cancelled, or previously paid, as of the Termination Date (“Accrued
Benefits,”or, collectively with Accrued Salary, “Accrued Compensation”); and 

(ii)     Except for Accrued Compensation, Employee shall forfeit, from and after the Termination Date, Employee’s
rights to any and all future compensation from Employer or any Related Entity to which Employee may be entitled and to all future benefits for which Employee may be eligible, in either case under this Agreement or otherwise, including without
limitation any Bonus payments (including any earned but unpaid Bonus payments or portions thereof) that would have been payable had Employee remained employed through the date such Bonus payments would have been paid. Except for Accrued
Compensation, Employer’s obligations to pay or provide Employee with future compensation or benefits shall fully and forever cease and terminate as of the Termination Date. 

3.3     Good Leaver Termination. Subject to Section 3.8, if Employee’s employment is terminated
under any of the circumstances set forth in Section 3.3(a), and Employee complies with the requirements of Section 3.7, Employee shall be entitled to receive Accrued Compensation as well as the benefits set forth in
Section 3.3(b) below (“Severance Benefits”): 

  
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 (a)     Good Leaver Conditions. 

(i)     Employee Resignation with Employee Cause. “Employee Cause” will exist if one of
the following occurs: (A) a substantial and continuing diminution in the nature of Employee’s responsibilities or Employee ceases to report directly to the CEO (as that term is defined in Section 1.2). (provided, however, that
neither a change in Employee’s reporting relationship, nor a diminution in responsibilities as a result of Employer exercising its rights under Section 3.7 will trigger this provision); (B) a material breach by Employer of any
material provision of this Agreement; (C) a material and continuing reduction in the aggregated total of Employee’s Base Salary, target Bonus percentage and target equity percentage; or (D) reassignment by the Company of the
Employee’s principal place of employment to a location more than fifty (50) miles from his principal place of employment on the Effective Date, but excluding normal business travel consistent with Employee’s duties, responsibilities
and position. For Employee to terminate for Employee Cause: (i) Employer must be notified by Employee in writing within 30 days of the date Employee becomes aware of the event that would allow Employee to terminate employment for Employee
Cause, with such notice setting forth such event in reasonable detail; (ii) the event must remain uncorrected by Employer for 30 days following Employer’s receipt of such notice (the “Notice Period”); and
(iii) such termination must occur within 30 days after the expiration of the Notice Period. 
 (ii)    
Employer Termination without Cause. Employer Termination without Cause shall mean termination by Employer for any reason other than for Employer Cause. 

(iii)     Death. Death shall mean Employee’s death. 

(iv)     Permanent Disability. Termination due to Employee’s “Permanent Disability”
shall mean the inability of Employee, with or without reasonable accommodation, by reason of illness, incapacity, or other disability, to perform Employee’s duties or fulfill Employee’s employment obligations to Employer, as determined by
the Board and as certified in writing by a competent medical physician chosen by the Board, for a cumulative total of 180 days in any 12 month period; provided, however, that such period of absence may be extended if required by applicable
law. 
 (b)     Good Leaver Consequences. 

(i)     A severance payment equal to two (2) times the sum of (A) the Base Salary calculated as of the
Termination Date or, if greater, before any reduction not consented to by the Employee and (B) the average of the annual Bonus paid to Employee for the prior two (2) year period. The severance payment shall be paid in equal installments in
accordance with the Employer’s normal payroll procedures over the period commencing on the Termination Date and ending on the date that is twelve (12) months following the Termination Date; provided, however that in the event that
(1) Employee serves a Severance Waiver Notice in accordance with Section 4.1, or (2) Employee violates any of the covenants set forth in this Agreement or in any separation agreement, general release, or similar agreement with
Employer, Employee shall thereafter forfeit the right to receive any further severance payment installments payable hereunder. During the period that Employee is entitled to receive severance payments pursuant to this Section 3.3(b), the
Employer shall also provide medical benefits to Employee 

  
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under terms and conditions that are not less favorable than provided to executive officers of the Employer; provided, however, that (X) Employee must elect to receive
continuation of health insurance coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act (COBRA); (Y) Employee will be required to pay the amount that an active employee of the Employer would pay to receive such coverage and the
Employer will be responsible for the employer portion of the insurance premium payments (which amount will be treated as imputed income to the Employee); and (Z) the Employer’s obligation to pay a portion of the Employee’s COBRA
premiums shall cease on the first day of the month after Employee obtains reasonably comparable health care coverage from a subsequent employer or other source. 

(ii)     Except as set forth in this Section 3.3(b) and as provided in Section 2.2, from and
after the Termination Date, (A) Employee forfeits Employee’s rights to any and all compensation from Employer or any Related Entity to which Employee may be entitled and to all future benefits for which Employee may be eligible, in either
case under this Agreement or otherwise, including without limitation any Bonus payments (excluding Employee’s Bonus payment for the calendar year of termination, pro-rated for the portion of the calendar year of termination during which
Employee was employed by Employer, such pro-rated Bonus to be payable on the date that such bonuses are otherwise paid by the Employer to its employees), and (B) Employer’s obligations to pay or provide Employee with any such future
compensation or future benefits shall fully and forever cease and terminate. 
 (iii)     If Employee’s employment
is terminated by reason of Employee’s death, Employee’s estate will be entitled to payment of all amounts due under Section 3.3(b). If Employee’s employment is terminated because of Employee’s Permanent Disability,
Employee’s legal guardian will be entitled to payment of the amounts due under Section 3.3(b) in accordance with the terms and conditions set forth therein. 

(iv)     If Employee’s employment is terminated during the period beginning three months prior to a Change in
Control and ending twelve months after a Change in Control, then the severance amount payable under Section 3.3(b)(i) above shall be increased by changing the reference to “two (2) times” to instead read “three
(3) times”. 
 For purposes of this Agreement only, the term “Change in Control” means the occurrence of an event described in (1),
(2) or (3) below: 
 1.     Crestwood Equity GP, LLC (the “General Partner”) ceases to be directly
or indirectly controlled by FR XI CMP HOLDINGS LLC, a Delaware limited liability company (the “Fund”) or one or more of its Affiliates (defined below); 

2.     The consummation of a reorganization, merger or consolidation of Crestwood Equity Partners, L.P (the
“Partnership”) or sale or other disposition of all or substantially all of the consolidated assets of the Partnership (a “Partnership Transaction”) immediately after which the voting power of the equity securities of the
Partnership outstanding immediately prior to such Partnership Transaction do not continue to represent (either by remaining outstanding or by being converted into equity securities having voting power in the entity surviving, resulting from, or
succeeding to all or substantially all of the Partnership’s consolidated assets as a result of such Partnership Transaction or any parent of such entity) at least 50% of the combined voting power of the then outstanding equity securities of
(A) the entity 

  
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surviving, resulting from, or succeeding to all or substantially all of the Partnership’s consolidated assets as a result of such Partnership Transaction or (B) any parent of any such
entity (including, without limitation, an entity which as a result of such transaction owns the Partnership or all or substantially all of the Partnership’s assets either directly or through one or more subsidiaries); or 

3.     The occurrence of any of the following events while the General Partner is controlled by the Fund or one or more
Affiliates of the Fund: 
 (A) Any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”)) is or becomes the beneficial owner (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 50% or more of the combined voting power of the then-outstanding voting
securities of Crestwood Holdings LLC (“Holdings”); provided, however, that the following acquisitions will not constitute a Change in Control: (i) any acquisition of voting securities of the Company by First Reserve Corporation, or
any investment fund over which it maintains voting control, or (ii) any acquisition of voting securities by Robert G. Phillips, or their respective successors, assigns, designees, heirs, beneficiaries, trusts, estates or controlled affiliates;

 (B)     A majority of the Board of Directors of the General Partner ceases to be comprised of Incumbent Directors;

 (C)     The consummation of a reorganization, merger or consolidation of Holdings or sale or other disposition of
all or substantially all of the consolidated assets of Holdings (each, a “Business Combination Transaction”) immediately after which the voting securities of Holdings outstanding immediately prior to such Business Combination Transaction
do not continue to represent (either by remaining outstanding or by being converted into equity securities having voting power in the entity surviving, resulting from, or succeeding to all or substantially all of Holdings’ consolidated assets
as a result of such Business Combination Transaction or any parent of such entity) at least 50% of the combined voting power of the then outstanding equity securities having voting power in (i) the entity surviving, resulting from, or
succeeding to all or substantially all of Holdings’ consolidated assets as a result of such Business Combination Transaction or (ii) any parent of any such entity (including, without limitation, an entity which as a result of such
transaction owns Holdings or all or substantially all of Holdings’ assets, either directly or through one or more subsidiaries; or 

(D)     The General Partner, or one or more Affiliates of Holdings, ceases to be the general partner of the Partnership.

 For purposes of this provision, (i) the term “Affiliate” means, with respect to any individual or a corporation, limited liability
company, partnership, joint venture, trust, unincorporated organization, association, government agency or political subdivision thereof or other entity (a “Person”), any other Person that directly or indirectly through one or more
intermediaries controls, is controlled by or is under common control with, the Person in question; and (ii) the term “Incumbent Director” means an individual who, as of the Effective Date, is a directors of an entity described in this
definition, and any individual who becomes a director of such entity subsequent to such date whose election, nomination for election by the entity’s equity holders, or appointment, was approved by a vote of a majority of the then Incumbent
Directors (either by a 

  
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specific vote or by approval of the proxy statement of the applicable entity in which such person is named as a nominee for director, without objection to such nomination). For purposes of this
provision, the term “control” means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise.]

 3.4     Expiration. If the Agreement expires and Employee’s employment terminates as a result of the
delivery of a Notice of Non-Renewal by Employer to Employee, Employee shall be entitled to receive the Severance Benefits provided pursuant to the terms and conditions of Section 3.3(b); provided, however, that if Employer
terminates the Agreement and Employee’s employment for Employer Cause following Employee’s delivery of a Notice of Non-Renewal but prior to the expiration of the Term, or Employee refuses to remain employed through the expiration of the
Term, Employee shall forfeit and not be entitled to the Severance Benefits. If the Agreement expires and Employee’s employment terminates as a result of the delivery of a Notice of Non-Renewal by Employee to Employer, Employee shall only be
entitled to receive the Accrued Compensation pursuant to the terms and conditions of Section 3.2(b). 

3.5     Continuing Obligations. Termination or expiration of this Agreement and the employment relationship does
not terminate those obligations of Employee imposed by this Agreement that are continuing obligations, including, without limitation, Employee’s obligations under Section 4. 

3.6     Post-Termination Assistance. During any period during which any Severance Benefits or other monies are
being paid to Employee under this Agreement after the Termination Date, Employee shall provide to Employer reasonable levels of assistance to Employer in answering questions or otherwise cooperating concerning the business of Employer, transition of
responsibility, or litigation; provided that Employee shall be fully and promptly reimbursed for all out of pocket expenses of Employee reasonably incurred in connection with such assistance and any such assistance after the period during
which any Severance Benefits or other monies are being paid shall not interfere or conflict with the obligations that Employee may owe to any other employer. 

3.7     Reduction or Alteration in Duties. When either the Employer or Employee serves a notice of termination or a
Notice of Non-Renewal, the Employer will have the right in its absolute discretion to (i) assign reduced, alternative, or no duties to the Employee, and require the Employee to act as directed by the Employer, including excluding the Employee
from the premises of the Employer or other Related Entity, and (ii) prohibit the Employee from discussing the Employee’s termination with employees, agents, or any third party except with respect to Employee’s communication with
federal, state or local governmental agencies as may be legally required or otherwise protected by law; provided, however, that in the event of a reduction or alteration of duties in accordance with Section 3.7(i), Employer will
still be required to make the Base Salary payments pursuant to Section 2.1 through the date of termination of Employee’s employment. 

3.8     Release. As a condition to the payment of any severance benefit hereunder, including the Severance
Benefits, Employer, in its sole discretion, may require Employee (or Employee’s executor, legal guardian, or other legal representative in the case of the Employee’s death or Permanent Disability) to first execute and not revoke a waiver
and release of all claims against Employer and the Related Entities in a form reasonably acceptable to Employer within 21 days following the Termination Date. 

  
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 3.9     Forfeiture of Benefits. Except as otherwise provided in
Section 4.1 hereof, in the event Employee breaches any of Employee’s obligations under Section 4 of this Agreement, and if Employee is otherwise entitled to receive Severance Benefits under Section 3.3,
Employee shall fully, completely, and permanently forfeit any and all rights to such Severance Benefits, and Employer and each Related Entity shall have the right to fully, completely, and permanently terminate payment of any amounts to which
Employee would otherwise be entitled pursuant to these provisions and recover the amount equal to the Severance Benefits previously paid to Employee under Section 3.3. The foregoing forfeiture of rights to the Severance Benefits shall
not in any way limit or restrict Employer’s rights and remedies pursuant to Section 4, including the right to seek injunctive relief to enforce compliance with such obligations and to recover damages for any breach. Employee agrees
that all disputes relating to Employee’s employment or termination of employment shall be resolved through Employer’s Dispute Resolution Plan as provided in Section 5.6 hereof. 

3.10     Severance Benefits Not an Offer of Employment. The payment of any Severance Benefits or other monies to
Employee under this Agreement after the Termination Date shall not constitute an offer or a continuation of employment of Employee. In no event shall Employee represent or hold himself out to be an employee of Employer after the Termination Date.
Except where Employer is required by law to withhold any federal, state, or local taxes, Employee shall be responsible for any and all federal, state, or local taxes that arise out of any payments to Employee hereunder. 

3.11     Recharacterization of Termination. Notwithstanding any other provision of this Agreement, if following the
termination of employment Employer discovers that grounds existed as of the Termination Date for a termination for Employer Cause, then such termination shall be deemed to be a termination for Employer Cause and Employee shall only be entitled to
the payments and benefits provided in Section 3.2. In the event Employee’s termination is reclassified as a termination for Employer Cause pursuant to this Section 3.11, Employee’s termination shall be so treated
and classified for all purposes under this Agreement and any other agreements between Employee and Employer, and Employee shall repay to Employer any monies or benefits received by Employee following termination to which Employee would not have been
entitled upon being terminated for Employer Cause. 
 SECTION 4: COVENANT NOT TO COMPETE; CONFIDENTIALITY. 

4.1     Non-Compete. The parties hereto recognize that Employee is retained by Employer as part of a professional,
management, and executive staff of Employer whose duties include the formulation and execution of management policy. Therefore, in exchange for the consideration specified herein and as a material incentive for Employer to enter into this Agreement,
and to enforce Employee’s obligations regarding confidentiality pursuant to Section 4.5 hereof, Employee hereby agrees that during the term of Employee’s employment hereunder (including any period of employment in which
Employee has reduced or altered duties pursuant to Section 3.7) and, in the event of a termination of Employee’s employment pursuant to Section 3.3 (Good Leaver Termination), for a period of twelve (12) months
following the Termination Date (the “Non-Compete Period”), Employee shall not, within North America, act 

  
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or engage in material competition with the activities or plans of Employer or any Related Entity as they exist up to the time of Employee’s termination of employment. “Material
Competition” by Employee shall mean (A) engaging in or conducting any business or investment activity in any capacity that directly competes with or has a material adverse economic effect on any of the material business activities
or business plans of Employer or any Related Entity, or with respect to a business or asset that was being evaluated by Employer or any Related Entity at any time during the Term and prior to the termination of employment, or (B) rendering
advice or services to, whether as an employee, consultant, advisor, agent, shareholder, independent contractor, investor, partner, member, owner, or otherwise, any company, business or other entity that derives a material part of its business from
activities that directly compete with the business activities or business plans of Employer or any Related Entity; provided, however, that Employee shall be permitted to acquire a passive stock interest in such a business provided that
the stock acquired is publicly traded and Employee does not beneficially own more than 2% of the outstanding interest in such business. Notwithstanding the foregoing, at any time during the twelve-month period following the Termination Date,
Employee may, at Employee’s option, serve on the Employer a written notice waiving the right to any and all future installments of the Severance Benefit payments pursuant to Section 3.3(b)(i) (a “Severance Waiver Notice”),
and upon delivery of the Severance Waiver Notice, Employee shall no longer be bound by the restrictions set forth in this Section 4.1 for the period on and after the date on which the Severance Waiver Notice is delivered to the Employer;
provided, however, that notwithstanding the delivery of a Severance Waiver Notice, Employee will continue to be bound by the remaining obligations set forth in this Agreement, including but not limited to those covenants of Employee set forth
in Section 4.2 and Section 4.5 hereof. 
 4.2     Non-Solicit. During the term of
Employee’s employment hereunder (including any period of employment in which Employee has reduced or altered duties pursuant to Section 3.7) and for a period of eighteen (18) months following the Termination Date (the
“Non-Solicitation Period”), Employee will not, directly or indirectly, solicit or induce (i) any person who is employed by Employer or any of the Related Entities or was so employed within the six-month
period prior to the Termination Date (A) to interfere with the activities or businesses of Employer or any Related Entity or (B) to discontinue such person’s employment with Employer or any of the Related Entities, nor shall Employee
(or any business or entity with which Employee is then involved) employ any such person or (ii) any customer of Employer to discontinue or reduce its business with Employer (either through the transition of such business to a competitor of
Employer or otherwise); provided, however, that general solicitation of the public for employment shall not constitute a solicitation hereunder so long as such general solicitation is not designed to target any such person. 

4.3     Recognition of Limitations as Reasonable. Employee understands that the provisions of Sections 4.1
and 4.2 hereof may limit Employee’s ability to earn a livelihood in a business similar to the business in which Employee is involved, but as a member of the management group of Employer Employee nevertheless agrees and hereby
acknowledges that (i) such provisions do not impose a greater restraint than is necessary to protect the goodwill, trade secrets, or other business interests of Employer and any of the Related Entities; (ii) such provisions contain
reasonable limitations as to time, scope of activity, and geographical area to be restrained; and (iii) the consideration provided hereunder, including without limitation, any amounts or benefits provided under Section 3 hereof and
the Confidential Information provided 

  
 11 

 
pursuant to Section 4.5, is sufficient to compensate Employee for the restrictions contained in Sections 4.1 and 4.2 hereof. In consideration of the foregoing and in
light of Employee’s education, skills, and abilities, Employee agrees that Employee will not assert that, and it should not be considered that, any provisions of Section 4.1 or 4.2 otherwise are void, voidable, or
unenforceable or should be voided or held unenforceable. 
 4.4     Modifications to Section 4. If, at the
time of enforcement of Section 4 of this Agreement, a court shall hold that the period, scope, or geographical area restrictions stated herein are unreasonable under circumstances then existing, the parties hereto agree that the maximum
period, scope, or geographical area reasonable under such circumstances shall be substituted for the stated period, scope, or geographical area and that the court shall revise the restrictions contained herein to cover the maximum period, scope, and
geographical area permitted by law. If, in any proceeding, a court refuses to enforce all of the separate covenants deemed included herein because, taken together, they are deemed more extensive than necessary to assure Employer of the intended
benefit of this Agreement, it is expressly understood and agreed that those of such covenants or portions of such covenants that, if eliminated, would permit the remaining separate covenants or portions thereof to be enforced in such proceeding
shall, for the purpose of such proceeding, be deemed eliminated from the provisions hereof. Employee acknowledges that Employee is a member of Employer’s management group with access to Employer’s confidential business information and
Employee’s services are unique to Employer and the Related Entities. Employee therefore agrees that the remedy at law for any breach by Employee of any of the covenants and agreements set forth in this Section 4 will be inadequate
and that in the event of any such breach, Employer may, in addition to the other remedies that may be available to it at law, apply to any court of competent jurisdiction to obtain specific performance and/or injunctive relief prohibiting Employee
(together with all those persons associated with Employee) from the breach of such covenants and agreements and to enforce, or prevent any violations of, the provisions of this Agreement. In addition, in the event of an alleged breach or violation
by Employee of this Section 4, the applicable Non-Compete Period and Non-Solicitation Period set forth in this Section shall be tolled until such breach or violation has been cured. 

4.5     Confidential Information. Employee acknowledges that pursuant to the employment hereunder, Employee
occupies a position of trust and confidence. Accordingly, in order to facilitate the performance of this Agreement and the activities contemplated by this Agreement, Employee shall be provided with or given access to, or Employee may develop,
certain proprietary or confidential information (“Confidential Information”) of Employer or a Related Entity. Confidential Information includes, without limitation, information pertaining to Employer’s or the Related
Entities’ past, current and future business plans, corporate opportunities, operations, acquisition, merger or sale strategies, production, product development, product names and marks, marketing, cost and pricing structure, margins,
profitability, operation or production procedures or results, partners, partnership or other business arrangements or agreements with third parties, customers, customer sales volumes, customer contracts, books, records and documents, technical
information, equipment, services and processes. Subject to the last sentence of this Section, during the term of Employee’s employment and after the termination of Employee’s employment, Employee hereby agrees not to use or to disclose to
any person, other than in the discharge of Employee’s duties under this Agreement, any Confidential Information of Employer or any Related Entities. Information shall not be deemed to be 

  
 12 

 
Confidential Information for purposes of this Agreement that: (i) is or hereafter becomes publicly known through no act or omission of Employee; (ii) is received by Employee without
restriction on disclosure from a third party who disclosed the information without violating any restriction on confidentiality or disclosure; or (iii) is independently developed after the termination of Employee’s employment with Employer
by Employee without reference to the Confidential Information and without violation of any confidentiality restriction. If Employee violates this agreement of confidentiality, Employer shall, in addition to any other remedy provided by law, be
permitted to pursue an action for injunctive relief; monetary damages, or both. Employee acknowledges that all such Confidential Information constitutes confidential and/or proprietary information of Employer and the Related Entities and agrees that
such Confidential Information shall be kept confidential, such Confidential Information shall be used solely for the purpose of performing the obligations hereunder or activities contemplated by this Agreement, and that Employee shall not otherwise
disclose or make use of such Confidential Information except in response to a court order, provided that when responding to a court order, Employee shall provide written notice of the court order to Employer in advance of any disclosure in
response thereto. 
 4.6     Intangible Rights. Employee agrees that all ideas, concepts, processes, discoveries,
devices, machines, tools, materials, designs, improvements, inventions, computer software, and other things of value (“Intangible Rights”), if patented or subject to a patent application, and Confidential Information, which
are conceived, made, invented or suggested either by Employee alone or in collaboration with others during the Term and relating to the business of Employer or a Related Entity, shall be promptly disclosed in writing to Employer and shall be the
sole and exclusive property of Employer. Employee hereby assigns to Employer all of Employee’s right, title, and interest in and to all such intangible rights that are patented or subject to a patent application by Employer and its successors
or assigns, and in and to Confidential Information. In the event that any of said Intangible Rights shall be deemed by Employer to be patentable or otherwise registerable under any federal, state or foreign law, Employee further agrees that during
the Term plus 60 days, at the expense of Employer, Employee will execute all documents and do all things necessary, advisable, or proper to obtain patents therefor or registration thereof; and to vest in Employer full title thereto. Employee agrees
that all right, title, and interest in any and all copyrights, copyright registrations, and copyrightable subject matter that occur as a result of Employee’s employment with Employer, shall be the sole and exclusive property of Employer, and
agrees that such works comprise “works for hire.” Employee hereby assigns and agrees to assign to Employer all right, title, and interest in any such copyrights, copyright registrations, and copyrightable subject matter that occur because
of such employment. 
 4.7     Non-Disparagement. Employee shall refrain, both during the employment relationship
and after the employment relationship terminates, from publishing any oral or written statements about Employer or any Related Entity, or any of their respective officers, employees, shareholders, investors, directors, agents or representatives that
are malicious, obscene, threatening, harassing, intimidating or discriminatory and which are designed to harm any of the foregoing. The foregoing restriction shall include, but not be limited to, statements made, whether directly or indirectly, to
or on social media, internet websites, blogs and electronic bulletin boards, as well as statements to the media, including writers, researchers, reporters, magazines, newspapers, book publishers, television stations, radio stations, the motion
picture 

  
 13 

 
industry, public interest groups, and the publishing industry generally. In the event such a communication is made to anyone, it will be considered a material breach of the terms of this
Agreement, and all commitments to make any payments under Section 3.3(b) will be null and void. Additionally, in the event any such communication materially damages the reputation of Employer, any Related Entity, or their respective
agents, officers, directors, or employees, the Employee will be required to reimburse the Employer for any and all Severance Benefits made under the terms of this Agreement. This provision is not intended to limit Employee’s right to give
non-malicious and truthful testimony should Employee be subpoenaed to give such testimony, and the foregoing restrictions in this Section 4.7 shall not apply with respect to Employee’s communication with federal, state or local
governmental agencies as may be legally required or otherwise protected by law. 
 4.8     Agreement to
Covenants. Each of the covenants of this Section 4 are given by Employee as part of the consideration for this Agreement and as an inducement to Employer to enter into this Agreement and accept the obligations hereunder. Employee has
had adequate time to consider these covenants and to consult with an attorney or other advisor concerning them. Employee acknowledges that Employee understands these covenants and agrees to them freely and voluntarily. 

SECTION 5: MISCELLANEOUS. 

5.1     Employee and Employer expressly understand and agree that Employer may at its sole discretion assign this
Agreement and transfer Employee’s employment to another Related Entity (“Subsequent Employer”) as of, or at any time after, the Effective Date, and no such assignment and transfer shall be deemed to be a termination of
employment for purposes of Section 3, or grounds for termination for Employee Cause; provided, however, that, effective with such assignment and transfer, all of Employer’s obligations hereunder shall be unchanged, assumed
by, and be binding upon, and all of Employer’s rights hereunder shall be assigned to, such Subsequent Employer and the defined term “Employer” as used herein shall thereafter refer to such Subsequent Employer. Employee expressly
consents to such assignment and transfer. Except for Employee’s title, as applicable, and as otherwise provided in this Section 5.1, all of the terms and conditions of this Agreement, including without limitation, Employee’s
rights and obligations, shall remain in full force and effect following any such assignment and transfer of employment. 
 5.2
    Except as otherwise required by law, any written notice hereunder shall be deemed validly given, made or served (i) on the date on which it is delivered personally, (ii) five business days after it shall have been
sent by registered or certified mail (receipt requested and postage prepaid), (iii) one business day after it is sent by overnight courier (charges prepaid), or (iv) on the same business day when sent before 5:00 p.m., recipient’s
time, and on the next business day when sent after 5:00 p.m., recipient’s time, by facsimile. 
  

			
	If to Employer, addressed to:	  	Crestwood Operations LLC
		  	700 Louisiana, Suite 2060
		  	Houston, TX 77002
		  	Facsimile: (832) 519-2200
		  	Attention: Chief Executive Officer

  
 14 

			
	Copy to:	  	Crestwood Operations LLC
		  	700 Louisiana, Suite 2550
		  	Houston, TX 77002
		  	Facsimile: (832) 519-2200
		  	Attention: Senior Vice President and General
		  	Counsel
		
	If to Employee:	  	Heath Deneke
		  	4127 Amherst Street
		  	Houston, Texas 77005

 or to Employee’s last known personal address. 

5.3     This Agreement shall be construed and enforced, and this Agreement and any disputes or controversies related
hereto shall be governed by, in all respects in accordance with, the law of the State of Texas, without regard to principles of conflicts of law that would apply the laws of any other jurisdiction, unless preempted by federal law, in which case
federal law shall govern. 
 5.4     No failure by either party hereto at any time to give notice of any breach by the
other party of, or to require compliance with, any condition or provision of this Agreement shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. 

5.5     It is a desire and intent of the parties that the terms, provisions, covenants, and remedies contained in this
Agreement shall be enforceable to the fullest extent permitted by law. If any such term, provision, covenant, or remedy of this Agreement or the application thereof to any person, association, or entity or circumstances shall, to any extent, be
construed to be invalid or unenforceable in whole or in part, then such term, provision, covenant, or remedy shall be construed or re-written in a manner so as to permit its enforceability under the applicable law to the fullest extent permitted by
law. In any case, the remaining provisions of this Agreement or the application thereof to any person, association, or entity or circumstances other than those to which they have been held invalid or unenforceable, shall remain in full force and
effect. 
 5.6     It is the mutual intention of the parties to have the option to resolve any dispute concerning this
Agreement out of court. Accordingly, the parties agree that either party may elect to have any such dispute submitted for resolution through Employer’s Dispute Resolution Plan or, if no such plan is in place, then pursuant to binding
arbitration to be held in Harris County, Texas, in accordance with the employment arbitration rules (except as modified below) of the American Arbitration Association and with the Expedited Procedures thereof (collectively, the
“Rules”); provided, however, that Employer, on its own behalf and on behalf of any of the Related Entities, shall be entitled to seek a restraining order or injunction in any court of competent jurisdiction to prevent
any breach, threatened breach, or the continuation of any breach of the provisions of Sections 4 and 5 and Employee hereby consents that such restraining order or injunction may be granted without the necessity of Employer posting any
bond. Each of the parties hereto agrees that arbitration pursuant to this Section 5.6 shall be conducted by a single arbitrator selected in accordance with the Rules; provided that such arbitrator shall be experienced in deciding
cases concerning the matter which is the subject of the dispute. Each of 

  
 15 

 
the parties agrees that in any such arbitration that the award shall be made in writing no more than 30 days following the end of the proceeding, that the arbitration shall not be conducted as a
class action, that the arbitration award shall include factual findings or conclusions of law, and that no punitive damages shall be awarded. Any award rendered by the arbitrator shall be final and binding and judgment may be entered on it in any
court of competent jurisdiction. Each of the parties hereto agrees to treat as confidential the results of any arbitration (including, without limitation, any findings of fact and/or law made by the arbitrator) and not to disclose such results to
any unauthorized person. In any dispute related to a termination of Employee’s employment pursuant to Section 3.2(a)(i), Employee shall only be permitted to dispute or contest whether or not a determination of Employer Cause was
made in good faith by the Board. Employer shall bear all administrative fees and expenses of the arbitration and unless the arbitrator directs otherwise, each party shall bear its own counsel fees and expenses. Either party may appeal the
arbitration award and judgment thereon and, in actions seeking to vacate an award, the standard of review to be applied to the arbitrator’s findings of fact and conclusions of law will be the same as that applied by an appellate court reviewing
a decision of a trial court sitting without a jury. 
 5.7     This Agreement shall be binding upon and inure to the
benefit of Employer, its successors in interest, or any other person, association, or entity that may hereafter acquire or succeed to all or substantially all of the business assets of Employer by any means, whether indirectly or directly, and
whether by purchase, merger, consolidation, or otherwise. Employee’s rights and obligations under this Agreement are personal and such rights, benefits, and obligations of Employee shall not be voluntarily or involuntarily assigned, alienated,
or transferred, whether by operation of law or otherwise, without the prior written consent of Employer, other than in the case of death or Permanent Disability of Employee. 

5.8     This Agreement and the other agreements and arrangements referred to in this Agreement supersede and replace any
previous agreements, including the Prior Employment Agreement, and discussions pertaining to the subject matter covered herein. This Agreement and any Exhibit hereto (collectively, the “Employment Documents”) constitute the
entire agreement of the parties with regard to the terms of Employee’s employment, termination of employment and severance benefits, and contain all of the covenants, promises, representations, warranties, and agreements between the parties
with respect to such matters. Each party to this Agreement acknowledges that no representation, inducement, promise, or agreement, oral or written, has been made by either party with respect to the foregoing matters that is not embodied in the
Employment Documents, and that no agreement, statement, or promise relating to the employment of Employee by Employer that is not contained in the Employment Documents shall be valid or binding. Any modification or waiver of this Agreement will be
effective only if it is in writing and signed by each party whose rights hereunder are affected thereby. 
 5.9     The
parties recognize and acknowledge, and hereby expressly waive, any right any of them may have to punitive damages. 

5.10     Employee represents that Employee is fully competent to manage Employee’s business affairs, has read this
document carefully, understands all of its contents, fully understands the final and binding effect of this Agreement, has had the opportunity to consult with Employee’s attorney, and executes this Agreement freely and voluntarily. Employee
represents and acknowledges that in executing this Agreement Employee does not rely and has not relied upon any representation or statement not set forth herein made by Employer or the Board or by any of their respective agents, representatives, or
attorneys with regard to the subject matter, basis, or effect of this Agreement or otherwise. 

  
 16 

 5.11     The parties to this Agreement hereby agree that no special
relationship of trust and reliance is, has been, or will be created by the provisions of this Agreement or Employee’s employment arrangement. 

5.12     This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but
all of which together will constitute one and the same Agreement. 
 5.13     Employer may withhold from any
compensation or benefits payable under this Agreement all federal, state, city or other taxes as may be required pursuant to any law or governmental regulation or ruling, as well as any other authorized deduction or withholding. Furthermore, should
Employee owe Employer or a Related Entity any money at the time of termination of employment, Employee authorizes and consents to Employer deducting the amount owed by Employee from compensation otherwise owed Employee. 

5.14     The provisions of this Section 5.14 shall apply solely to the extent that a payment under this
Agreement is subject to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). 

(a)     General Suspension of Payments. If Employee is a “specified employee,” as such term is defined
within the meaning of Section 409A of the Code, any payments or benefits payable or provided as a result of Employee’s termination of employment that would otherwise be paid or provided prior to the first day of the seventh month following
such termination (other than due to death) shall instead be paid or provided on the earlier of (i) the six months and one day following Employee’s termination, (ii) the date of Employee’s death, or (iii) any date that
otherwise complies with Section 409A of the Code. In the event that Employee is entitled to receive payments during the suspension period provided under this Section, Employee shall receive the accumulated benefits that would have been paid or
provided under this Agreement within the suspension period on the first payroll date next following the earliest day that would be permitted under Section 409A of the Code. In the event of any delay in payment under this provision, the deferred
amount shall bear interest at the prime rate (as stated in the Wall Street Journal) in effect on his termination date until paid. 

(b)     Release Payments. In the event that Employee is required to execute a release to receive any payments from
the Employer that constitute nonqualified deferred compensation under Section 409A of the Code, payment of such amounts shall not be made or commence until the sixtieth (60th) day following such termination of employment. Any payments that
are suspended during the sixty (60) day period shall be paid on the date the first regular payroll is made immediately following the end of such period. 

(c)     Reimbursement Payments. The following rules shall apply to payments of any amounts under this Agreement
that are treated as “reimbursement payments” under Section 409A of the Code: (i) the amount of expenses eligible for reimbursement in one calendar year shall not limit the available reimbursements for any other calendar year
(other than an arrangement providing for the reimbursement of medical expenses referred to in Section 105(b) 

  
 17 

 
of the Code); (ii) Employee shall file a claim for all reimbursement payments not later than thirty (30) days following the end of the calendar year during which the expenses were
incurred, (iii) the Employer shall make such reimbursement payments within thirty (30) days following the date Employee delivers written notice of the expenses to the Employer; and (iv) Employee’s right to such reimbursement
payments shall not be subject to liquidation or exchange for any other payment or benefit. 
 (d)     Separation from
Service. For purposes of this Agreement, any reference to “termination” of Employee’s employment shall be interpreted consistent with the meaning of the term “separation from service” in Section 409A(a)(2)(A)(i) of
the Code and no portion of the Severance Payments shall be paid to Employee prior to the date such Employee incurs a separation from service under Section 409A(a)(2)(A)(i) of the Code. 

(e)     Installment Payments. For purposes of Section 409A of the Code and the regulations and other guidance
thereunder and any state law of similar effect (including without limitation Treasury Regulations Section 1.409A-2(b)(2)(iii)), all payments made under this Agreement (whether severance payments or otherwise) will be treated as a right to
receive a series of separate payments and, accordingly, each installment payment under this Agreement will at all times be considered a separate and distinct payment. 

(f)     PPACA. To the extent that any post-termination continuation of health or medical coverage pursuant to this
Agreement would violate either Section 105(h) of the Code or the Patient Protection and Affordable Care Act of 2010 (“PPACA”) and related regulations and guidance promulgated thereunder, the Employer may reform this
Agreement in such manner as is reasonably necessary to provide the Employee with the intended benefit hereunder in a manner that complies with the PPACA; provided, however, that such reformation shall not result in a violation of Code
Section 409A. 
 (g)     General. Notwithstanding anything to the contrary in this Agreement, it is intended
that the severance benefits and other payments payable under this Agreement satisfy, to the greatest extent possible, the exemptions from the application of Section 409A of the Code provided under Treasury Regulations Sections 1.409A-1(b)(4),
1.409A-1(b)(5), and 1.409A-(b)(9) and this Agreement will be construed to the greatest extent possible as consistent with those provisions. The commencement of payment or provision of any payment or benefit under this Agreement shall be deferred to
the minimum extent necessary to prevent the imposition of any excise taxes or penalties on the Employer or Employee. 
 5.15
    The paragraph headings have been inserted for purposes of convenience and shall not be used for interpretive purposes. 

[Signature Page Follows] 

  
 18 

 IN WITNESS WHEREOF, Employer and Employee have duly executed this Agreement in multiple
originals to be effective on the Effective Date. 
  

			
	EMPLOYER
	
	CRESTWOOD OPERATIONS LLC
		
	By:	 	 /s/ Robert G. Phillips

	Name:	 	Robert G. Phillips
	Title:	 	Chief Executive Officer
	
	EMPLOYEE
	
	 /s/ Heath Denek

	Name:	 	Heath Deneke

 EXHIBIT A 

Director of Bay West LLCEX-10.1

 Exhibit 10.1 

July 17, 2017 
 BY
HAND AND BY E-MAIL MFROST@ANALOGIC.COM 

Mark Frost 
 57 Porter Road 

Boxford, MA 01921 
 Re: Separation Agreement 

Dear Mark: 
 The purpose of this separation
agreement (“Agreement”) is to confirm the terms of your separation from Analogic Corporation. (“Analogic” or the “Company”). The Severance Pay and Benefits described below are contingent on your
agreement to and compliance with the provisions of this Agreement. Unless you rescind your assent as set forth in Section 8 below, this Agreement shall be effective on the 8th day following your signing of this Agreement (the “Effective
Date”), at which time it shall become final and binding on all parties. 
 1. Separation. Your employment with the Company
shall terminate effective September 11, 2017 (the “Separation Date”). If, on the Separation Date, you are a member of the board of directors of any of the Company’s subsidiaries or affiliated entities (an
“Affiliated Entity”), or hold any other office or position with the Company or any Affiliated Entity, you shall, unless otherwise requested by the Company, be deemed to have resigned from all such offices and positions as of the
Separation Date. You agree to execute such documents and take such other actions as the Company may request to reflect such resignation. 

2. Separation Pay and Benefits. If you sign and do not rescind this Agreement as set forth in Section 8 below, and if you execute
and deliver the Affirmation of Release set forth in Exhibit D as of the Separation Date, then the Company will: 
  

	 	(i)	beginning on the first regular payroll date following sixtieth (60th) day after the Separation Date pay to you a sum equal to your most recent Annual Base Salary
for a period of twelve (12) months, such payment to be made in approximately equal installments according to the Company’s then-current payroll practices (except in the case of amounts that are subject to a prior deferral election).

  

	 	(ii)	 provide continued coverage under the Company’s group medical and dental plans (the “Health
Plans”), if and to the extent permitted by such plans and subject to their terms, and also subject to you paying your normal proportion of the cost thereof, for a period of twelve (12) months from the Separation Date, and if the Health
Plans do not permit such continued coverage, and if you are eligible for and properly elect health care continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), Executive’s COBRA

	 	
payments, and if applicable for family coverage, for health coverage that is paid by the Company to active and similarly-situated employees who receive the same type of coverage, for a period of
equal to twelve (12) months from the Date of Termination, unless the provision of the foregoing benefits will violate the nondiscrimination benefits of applicable law, in which case the Company payments will not apply. Any obligations under
this Section 2(ii) shall cease at such earlier time as you become eligible for coverage under another employer’s group medical plan, and you shall immediately inform the Company in writing of such occurrence. 

 

	 	(iii)	pay to you a sum equal to your actual bonus as calculated according to the FY17 Annual Incentive Program, payable at such time and in the manner provided in such Program. 

 

	 	(iv)	make available outplacement assistance, such assistance to be provided through a Company-approved program and provider. 

3. Equity Awards. Any vesting of outstanding equity awards to which you may be entitled will be determined in accordance with the
applicable award agreement. For the avoidance of doubt, a schedule of your unvested awards is attached hereto as Exhibit A. 

4. Acknowledgments. You acknowledge and agree that except for 
  

	 	(i)	unpaid regular wages and vacation time accrued through the Separation Date (which shall be paid by the Company in the first regularly scheduled payroll following the Separation Date); 

 

	 	(ii)	reimbursement for any outstanding business expenses documented and submitted in accordance with Company policy 

  

	 	(iii)	any vested amounts, if any, due to you pursuant to the Company’s 401(k) savings plan and non-qualified deferred compensation plan; 

 

	 	(iv)	the separation pay and benefits described in Section 2 (Separation Pay and Benefits) above; and 

  

	 	(v)	the equity awards described in Section 3 (Equity Awards) above; 

 you have been paid and provided all
wages, vacation pay, holiday pay, commissions and any other form of compensation or benefit that may be due to you now or which would have become due in the future in connection with your employment with or separation of employment from the Company.
Unless expressly provided in this Agreement, you will not be eligible for or receive any Company provided or paid benefits for any period after the Separation Date. 

4. Unemployment Insurance. You may seek unemployment benefits as a result of your separation from the Company. Decisions regarding
eligibility for and amounts of 

  
 2 

 
unemployment benefits are made by the applicable state agency, not by the Company. Please refer to the unemployment benefits notice attached as Exhibit B. 

5. Confidentiality; Non-Disparagement; Non-Solicitation; Return of Company Property. You hereby covenant and agree to: 

 

	 	(i)	promptly return to the Company any keys, credit cards, passes, confidential documents or material, computer equipment, or other property belonging to the Company, and you shall also return all writings, files, records,
correspondence, notebooks, notes and other documents and things (including any copies thereof) containing confidential information or relating to the business or proposed business of the Company or its affiliated entities or containing any trade
secrets relating to the Company or its affiliated entities. For purposes of the preceding sentence, the term “trade secrets” shall have the meaning ascribed to it under the Uniform Trade Secrets Act. You will represent in writing to the
Company upon termination of employment that you has complied with the foregoing provisions of this Section. You may retain your company-issued laptop and mobile phone, provided that you first make them available to the Company for the removal of
confidential information or other Company property therefrom. 

  

	 	(ii)	pay in full all outstanding balances on any Company credit card no later than the Separation Date; and you further acknowledge that, if the Company has reimbursed you for expenses but you have not paid the associated
balances as of the Separation Date, the Company may deduct the amount of such unpaid balances from your Severance Pay until these deductions pay the balance in full; 

 

	 	(iii)	abide by the terms of your proprietary information and invention assignment agreement, a copy of which is attached hereto as Exhibit C, and the terms of which are hereby incorporated into this Agreement by
reference; 

  

	 	(iv)	abide by any and all common law and/or statutory obligations relating to the protection and non-disclosure of the Company’s trade secrets and/or confidential and proprietary documents and information, and you
specifically agree that you will not disclose any confidential or proprietary information that you acquired as an employee of the Company to any other person or entity, or use such information in any manner that is detrimental to the interests of
the Company; 

  

	 	(v)	keep confidential and not publicize or disclose the existence and terms of this Agreement, other than to (a) an immediate family member, legal counsel, accountant or financial advisor, provided that any such
individual to whom disclosure is made shall be bound by these confidentiality obligations; or (b) a state or federal tax authority or government agency to which disclosure is mandated by applicable state or federal law; 

  
 3 

	 	(vi)	not make any statements that are disparaging about or adverse to the business interests of the Company or which are intended to harm the reputation of the Company, including, but not limited to, any statements that
disparage any product, service, finances, employees, officers, directors, capability or any other aspect of the business of Company. The Company will instruct its senior leadership team to refrain from making disparaging statements about you;

  

	 	(vii)	for the period ending one year after the Separation Date, you will not directly or indirectly, either alone or in association with others (I) solicit, induce or attempt to induce any employee or independent
contractor of the Company to terminate his or her employment or other engagement with the Company, or (II) hire, or recruit or attempt to hire, or engage or attempt to engage as an independent contractor, any person who was employed or otherwise
engaged by the Company at any time during your employment with the Company; provided, however, that this clause (II) shall not apply to the recruitment or hiring or other engagement of any individual whose employment or other engagement with the
Company has been terminated for a period of 60 days or longer; and 

  

	 	(viii)	For the period ending one year after the Separation Date, not directly or indirectly, either alone or in association with others, solicit, divert or take away, or attempt to divert or take away
(“Solicit”), the business or patronage of any of the clients, customers, or business partners of the Company which were contacted, solicited, or served by the Company during the 12-month period prior to the Separation Date
(“Customers”). You further represent and warrant that you have not Solicited the business or patronage of any Customers. 

Your breach of this Section 5 will constitute a material breach of this Agreement and, in addition to any other legal or equitable remedy
available to the Company, will entitle the Company to stop providing and/or recover any Severance Pay and Benefits. You understand that nothing in this Agreement is designed to interfere with, restrain, or prevent employee communications protected
by state or federal law, including as protected by (a) section 7 of the National Labor Relations Act (or court order), regarding wages, hours, or other terms and conditions of employment, (b) SEC Rule 21F-17, or (c) the immunity
provided under 18 U.S.C. section 833(a) for confidential disclosures of trade secrets to government officials or lawyers solely for the purpose of reporting or investigating a suspected violation of law or in a sealed filing in court or other
proceeding relating to such suspected violation. 
 6. Cooperation. You agree that, consistent with your business and personal
affairs, during and after you employment by the Company, you will assist the Company and its affiliated entities in the defense of any claims, or potential claims that may be made or are threatened to be made against any of them in any action, suit
or proceeding, whether civil, criminal, administrative or investigative (a “Proceeding”), and will assist the Company and its affiliated entities in the prosecution of any claims that may be made by the Company or its affiliated
entities in any Proceeding, to the extent that such claims may relate to your employment or the period of your 

  
 4 

 
employment by the Company. The Company agrees to reimburse Executive for all of your reasonable out-of-pocket expenses associated with such assistance, including travel expenses. Any amounts to
be paid to you pursuant to this Section 6 shall be paid by the Company no later than thirty (30) days of the date on which you notify the Company that such expenses were incurred. 

7. Release of Claims. 
  

	 	(i)	You hereby acknowledge and agree that by signing this Agreement, you are waiving your right to assert any Claim (as defined below) against the Company, and any of its affiliates, subsidiaries, parent companies,
predecessors, and successors, and all of their respective past and present officers, directors, stockholders, partners, members, employees, agents, representatives, plan administrators, attorneys, insurers and fiduciaries (each in their individual
and corporate capacities) (individually and collectively, the “Released Parties”) arising from acts or omissions that occurred on or before the Separation Date or the Effective Date, whichever is later. 

 

	 	(ii)	Your waiver and release is intended to bar any form of legal claim, lawsuit, charge, complaint or any other form of action (jointly referred to as “Claims”) against the Released Parties seeking money or
any other form of relief, including but not limited to equitable relief (whether declaratory, injunctive or otherwise), damages or any other form of monetary recovery (including but not limited to back pay, front pay, compensatory damages, emotional
distress damages, punitive damages, attorneys’ fees and any other costs), each as they may have been amended through the Separation Date or Effective Date, whichever is later. You understand that there could be unknown or unanticipated Claims
resulting from your employment with the Company and the termination of your employment, and you agree that such Claims are included in this waiver and release. You specifically waive and release the Company from any Claims arising from or related to
your employment relationship with the Company or the termination of your employment, including without limitation Claims under any statute, ordinance, regulation, executive order, common law, constitution and/or other source of law of any state,
country and/or locality (collectively and individually referred to as “Law”), including but not limited to the United States, the Commonwealth of Massachusetts, and any other state or locality where you worked for the Company.

  

	 	(iii)	Without limiting the foregoing general waiver and release, except for Claims resulting from the failure of the Company to perform its obligations under this Agreement, you specifically waive and release the Company from
any Claims arising from or related to your employment relationship with the Company or the termination thereof, including without limitation: 

  
 5 

	 	(a)	Claims under any Law concerning discrimination, harassment or fair employment practices, including but not limited to Massachusetts General Laws Chapter 151B, Title VII of the Civil Rights Act of 1964 (42 U.S.C. §
2000e et seq.), 42 U.S.C. § 1981, the Age Discrimination in Employment Act (29 U.S.C. § 621 et seq.) (“ADEA”) and the Americans with Disabilities Act (42 U.S.C. § 12101 et seq.), each as they may have been amended
through the Separation Date or Effective Date, whichever is later; 

  

	 	(b)	Claims under any Law relating to wages, hours, whistleblowing, leaves of absences or any other terms and conditions of employment, including but not limited to the Family and Medical Leave Act of 1993 (29 U.S.C. §
2601 et seq.), the Massachusetts Payment of Wages Law (Massachusetts General Laws Chapter 149, §§ 148, 150), Massachusetts General Laws Chapter 149 in its entirety, and Massachusetts General Laws Chapter 151 in its entirety (including but
not limited to the minimum wage and overtime provisions), each as they may have been amended through the Separation Date or Effective Date, whichever is later. You specifically acknowledge that you are waiving any Claims for unpaid wages under these
and other Laws; 

  

	 	(c)	Claims under any local, state or federal common law theory; 

  

	 	(d)	Claims arising under the Company’s policies or benefit plans; and 

  

	 	(e)	Claims arising under any other Law or constitution. 

  

	 	(iv)	Further, consistent with the provisions of state and federal discrimination laws (the “Discrimination Laws”), nothing in the general waiver and release set forth above in this Section 7 (Release of
Claims) shall be deemed to prohibit you from challenging the validity of this release under the Discrimination Laws or from filing a charge or complaint of age or other related discrimination with the Equal Employment Opportunity Commission
(“EEOC”) or similar state agency, or from participating in any investigation or proceeding conducted by the EEOC or such state agency. However, the release in this Section 7 (Release of Claims) does prohibit you from seeking or
receiving monetary damages or other individual-specific relief in connection with any such charge or complaint of age or other employment-related discrimination. Further, nothing in this Agreement shall be deemed to limit Analogic’s right to
seek immediate dismissal of such charge or complaint on the basis that your signing of this Agreement constitutes a full release of any individual rights under the Discrimination Laws, or Analogic’s right to seek restitution or other legal
remedies to the extent permitted by law of the economic benefits provided to you under this Agreement in the event that you successfully challenge the validity of this release and prevail in any claim under the Discrimination Laws.

  
 6 

	 	(v)	If your release of Claims pursuant to this Section 7 (Release of Claims) is determined to be unenforceable in whole or part (except for your release of federal age discrimination Claims, which shall not be subject
to this sentence), the Company will have the option, in its sole discretion, to either (a) declare the entire Agreement null and void and require you to refund the Separation Pay and Benefits provided for in this Agreement; or (b) enforce
the portions of the Agreement found not to be unenforceable. In the event that any other provision of this Agreement is determined to be unenforceable in whole or in part (including your release of federal age discrimination Claims) the remainder of
the Agreement shall be enforced in full. 

  

	 	(vi)	This Section 7 (Release of Claims) shall not release the Company from any obligation expressly set forth in this Agreement, or preclude you from pursuing any claims to enforce this Agreement. You acknowledge and
agree that, but for providing this waiver and release, you would not be receiving the Severance Pay and Benefits provided for in this Agreement. 

  

	 	(vii)	Reaffirmation of Release of Claims. Analogic shall have no obligation to provide you with the separation pay and benefits set forth in Section 2 (Separation Pay and Benefits) of this Agreement unless and
until you execute and return the Affirmation of Release attached as Exhibit D as of the Separation Date. You also acknowledge and agree that the release of claims in this Section 7 (Release of Claims) shall be fully effective in
the event that you fail or refuse to execute the affirmation. 

 8. Consideration Period. Because you are at least 40
years of age, you have specific rights under the Older Workers Benefit Protection Act (“OWBPA”), which prohibits discrimination on the basis of age. The release set forth in Section 7 (Release of Claims) is intended to release
any rights you may have against the Company alleging discrimination on the basis of age. Accordingly, it is the Company’s desire and intent that you fully understand the provisions and effects of this Agreement. To that end, you are
encouraged and given the opportunity to consult with legal counsel for the purpose of reviewing the terms of this Agreement. Consistent with the provisions of the OWBPA, you have 21 days to consider and accept the provisions of this Agreement.
The parties agree that any changes to this agreement, whether material or immaterial, do not restart such 21 period, which shall terminate 21 days from the date this agreement was originally provided to you, or August 1, 2017. In addition, you
may rescind your assent to this Agreement if, within 7 days after the date you sign this Agreement, you deliver a written notice of rescission. To be effective, such notice of rescission must be postmarked and sent by certified mail, return receipt
requested, or delivered within the seven-day period to Company’s Vice President of Human Resources 
 Notwithstanding anything to the contrary in this
Agreement, the release in Section 7 (Release of Claims) does not cover rights or Claims under the ADEA that arise from acts or omissions that 

  
 7 

 
occur after the date you sign this Agreement or the Affirmation of Release contained in Exhibit D, as the case may be. 

9. Section 409A. Subject to the provisions in this Section 9, any severance payments or benefits under this Agreement shall
begin only upon the date of Executive’s “separation from service” (determined as set forth below) which occurs on or after the date of termination of employment. The following rules shall apply with respect to distribution of the
payments and benefits, if any, to be provided to Executive under this Agreement: 
  

	 	(i)	It is intended that each installment of the severance payments and benefits provided under this Agreement shall be treated as a separate “payment” for purposes of Section 409A of the Internal Revenue Code
and the guidance issued thereunder (“Section 409A”). Neither you nor the Company shall have the right to accelerate or defer the delivery of any such payments or benefits except to the extent specifically permitted or required by
Section 409A. 

  

	 	(ii)	If, as of the date of your “separation from service” from the Company, you are not a “specified employee” (within the meaning of Section 409A), then each installment of the severance payments
and benefits shall be made on the dates and terms set forth in this Agreement. 

  

	 	(iii)	If, as of the date of your “separation from service” from the Company, Executive is a “specified employee” (within the meaning of Section 409A), then: 

 

	 	(a)	Each installment of the severance payments and benefits due under this Agreement that, in accordance with the dates and terms set forth herein, will in all circumstances, regardless of when the separation from service
occurs, be paid within the short-term deferral period (as defined under Section 409A) shall be treated as a short-term deferral within the meaning of Treasury Regulation Section 1.409A-1(b)(4) to the maximum extent permissible under
Section 409A and shall be paid at the time and in the matter set forth in this Agreement; and 

  

	 	(b)	 Each installment of the severance payments and benefits due under this Agreement that is not described in
paragraph (a) above and that would, absent this subsection, be paid within the six-month period following Executive’s “separation from service” from the Company shall not be paid until the date that is six months and one day
after such separation from service (or, if earlier, Executive’s death), with any such installments that are required to be delayed being accumulated during the six-month period and paid in a lump sum on the date that is six months and one day
following Executive’s separation from service and any subsequent installments, if any, being paid in accordance with the dates and terms set forth herein; provided, however, that the preceding provisions of this sentence shall not apply to any
installment of severance payments and 

  
 8 

	 	
benefits if and to the maximum extent that such installment is deemed to be paid under a separation pay plan that does not provide for a deferral of compensation by reason of the application of
Treasury Regulation 1.409A-1(b)(9)(iii) (relating to separation pay upon an involuntary separation from service). Any installments that qualify for the exception under Treasury Regulation Section 1.409A-1(b)(9)(iii) must be paid no later than
the last day of Executive’s second taxable year following the taxable year in which the separation from service occurs. 

  

	 	(iv)	The determination of whether and when Executive’s separation from service from the Company has occurred shall be made in a manner consistent with, and based on the presumptions set forth in, Treasury Regulation
Section 1.409A-1(h). Solely for purposes of this paragraph (iv), “Company” shall include all persons with whom the Company would be considered a single employer as determined under Treasury Regulation Section 1.409A-(h)(3).

  

	 	(v)	All reimbursements and in-kind benefits provided under this Agreement shall be made or provided in accordance with the requirements of Section 409A to the extent that such reimbursements or in-kind benefits are
subject to Section 409A, including, where applicable, the requirement that (i) any reimbursement is for expenses incurred during Executive’s lifetime (or during a shorter period of time specified in this Agreement), (ii) the
amount of expenses eligible for reimbursement during a calendar year may not affect the expenses eligible for reimbursement in any other calendar year, (iii) the reimbursement of an eligible expense will be made on or before the last day of the
calendar year following the year in which the expense is incurred and (iv) the right to reimbursement is not subject to set off or liquidation or exchange for any other benefit. 

 

	 	(vi)	The Company may withhold (or cause to be withheld) from any payments made under this Agreement, all federal, state, city or other taxes as shall be required to be withheld pursuant to any law or governmental regulation
or ruling. 

 9. Miscellaneous. 
  

	 	(i)	The Company disclaims any liability to you. This Agreement is not an admission by the Company of any liability or wrongdoing, nor that any actions or inactions of the Company are or were wrongful, and it shall not be
interpreted as such. 

  

	 	(ii)	Except as expressly provided for herein, this Agreement supersedes any and all prior oral and/or written agreements, and sets forth the entire agreement between the Company and you in respect of your separation from the
Company. 

  

	 	(iii)	No variations or modifications hereof shall be deemed valid unless reduced to writing and signed by the Company and you. 

  
 9 

	 	(iv)	The provisions of this Agreement are severable, and if for any reason any part hereof shall be found to be unenforceable, the remaining provisions shall be enforced in full. 

 

	 	(v)	This Agreement may be signed on one or more copies, each of which when signed will be deemed to be an original, and all of which together will constitute one and the same Agreement. 

 

	 	(vi)	The validity, interpretation and performance of this Agreement, and any and all other matters relating to your employment and separation of employment from the Company, shall be governed by and construed in accordance
with the internal laws of the Commonwealth of Massachusetts, without giving effect to conflict of law principles. Both parties agree that any action, demand, claim or counterclaim relating to (a) your employment and separation of your
employment, and/or (b) the terms and provisions of this Agreement or to its breach, shall be commenced in the Commonwealth of Massachusetts in a court of competent jurisdiction. 

 

	 	(vii)	BOTH PARTIES AGREE THAT ANY ACTION, DEMAND, CLAIM OR COUNTERCLAIM ARISING OUT OF THIS AGREEMENT SHALL BE RESOLVED BY A JUDGE ALONE, AND BOTH PARTIES HEREBY WAIVE AND FOREVER RENOUNCE THE RIGHT TO A TRIAL BEFORE A CIVIL
JURY. 

 It is the Company’s desire and intent to make certain that you fully understand the provisions and effects of
this Agreement. To that end, you have been encouraged and given an opportunity to consult with legal counsel, and you acknowledge having done so. By executing this Agreement, you are acknowledging that (a) you have been afforded sufficient time
to understand the provisions and effects of this Agreement and to consult with legal counsel; (b) your agreements and obligations under this Agreement are made voluntarily, knowingly and without duress; and (c) neither the Company nor its
agents or representatives have made any representations inconsistent with the provisions of this Agreement. 

  
 10 

 If the foregoing correctly sets forth our arrangement, please sign, date and return the enclosed
copy of this Agreement to the person identified above, within the time frame set forth above. 
  

					
	 Very truly yours,
  

ANALOGIC CORPORATION
	 		 	Accepted and Agreed To:
			
	/s/ Fred B. Parks	 		 	/s/ Mark Frost
	 Fred B. Parks
 President and CEO
	 		 	 Mark Frost
 Dated: July 20,
2017

  
 11 

 EXHIBIT A 

Unvested Equity Awards 
  

 
 Term Date: 9/11/2017 Treatment of Outstanding Analogic Stock Awards upon Termination Unvested Shares/ Expected
Option Vested Options Subject Vesting Option Award Award Original Exercise Options Unvested Shares/Options to proration Date Expiration Year Number Type of Award Grant Date Price Exercisable Outstanding To Be Cancelled accelerated Vesting (if
applicable) Date Comments FY16 LE160032 Performance Contingent Restricted Shares (EPS)* 12/03/15 na na 2,320 709 1611 9/30/2018 na Months served in performance period/36 FY16 LT160032 Performance Contingent Restricted Shares (TSR) * 12/03/15 na na
1,771 541 1230 9/30/2018 na Months served in performance period/36 FY16 LB160237 Timebased 12/03/15 na na 2,320 773 1547 9/11/2017 na Full years served in performance period/3 FY16 LB160238 Timebased (new hire) 12/03/15 na na 2,137 534 1603
9/11/2017 na Months served between vesting periods FY17 LE170008 Performance Contingent Restricted Shares (EPS)* 09/15/16 na na 2,169 1,386 783 9/30/2019 na Months served in performance period/36 FY17 LT170008 Performance Contingent Restricted
Shares (TSR) * 09/15/16 na na 2,194 1,402 792 9/30/2019 na Months served in performance period/36 FY17 LB170118 Timebased 09/15/16 na na 2,169 1,446 723 9/11/2017 na Full years served in performance period/3 * Final vesting percentage for
Performance Contingent Restricted Shares will depend on actual Analogic performance during the performance period. 

  
 12 

 

 
 How long does it take to process a new claim?It takes approximately three to four weeks to process a new claim. If you are determined to
be eligible for UI benefits, you will receive payments for the weeks that you are eligible, except for the first week, which is a waiting period required by Massachusetts Law.How to request your weekly benefit payment:Beginning on the Sunday after
you apply for benefits, you must request your benefit payment (sign or certify your eligibility for UI benefits) weekly. A payment will be made to you for the previous week, after you request the benefit payment and we have determined that you are
eligible. To request benefit payment:Go to www.mass.gov/dua select UI Online for Claimants. Then log in to your account using your SSN and password that you created. Select Request Benefit Payment and answer the questions.2. Call the automated
TeleCert service at 617-626-6338. Follow the voice prompts and answer the questions using the keypad on your phone. TeleCert is available in English and Spanish.How to apply for benefits from out of state:If you worked in Massachusetts and have
moved to another state, you may still be eligible for benefits. This type of claim is known as an interstate claim. Interstate claims are subject to Massachusetts Law as if you were still living in the commonwealth. You can apply for your interstate
unemployment claim using UI Online or by calling TeleClaim Center.Need help?If you have any questions concerning your eligibility or need assistance applying for unemplyment benefits, please review the frequently asked questions on our website,
www.mass.gov/data or call the TeleClaim Center.This pamphlet includes important information how to apply for Unemployment insurance benefits.This pamphlet Includes important information on how to apply for Unemployment Insurance benefits.Este
folleto contiene Information Importants sobre como solicitar los beneficier del Seguro de Desempleo.(Illegible)THE COMMONWEALTH OF MASSACHUSETTS EXECUTIVE OFFICE OF LABOR AND WORDFORCE DEVELOPMENT DEPARTMENT OF UNEMPLOYMENT ASSISTANCEEqual
Opportunity Employer ProgramAucllary aids and services are available upon request to individuals with disabilities. For hearing-impaired relay services, call 711 www.mass.gov/dua (Illegible) The commonwealth of MassachusettsEXECUTIVE OFFICES LABOR
AND WORDORCE DEVELOPMENT DEPARTMENT OF UNEMPOLEMENT ASSISTANCE To Massachusetts workers:How to Apply for unemployment insurance Benefits To Massachusetts Employers:Under the state’s Employment and Training Law, you are required to give a copy
of this pamphlet to each of your employees who is separated from work, permanently or temporarily. Please complete the information below:Analogic Corporation Employer Name 60075390 DUA Employer Account Number (EAN)04-2454372 Federal Employer ID
Number (optional) 8 Centennial Drive, Peabody, MA 01960Address (to which DUA should mail request for separation and information) 

 

 
 What is Unemployment Insurance? Unemployment Insurance (UI) is a temporary income protection program for workers who have lost their
jobs through no fault of their own, but are able to work, available for work, and looking for work. Funding for UI benefits comes from quarterly contributions paid by the state’s employers to the Department of Unemployment Assistance (DUA); no
deductions are made from employees’ pay. When should you apply for UI benefits? If you have been separated from work, or your work schedule has been reduced, you should apply for UI benefits during your first week of total or partial
unemployment. Your claim will begin on the Sunday of the calendar week in which your claim is filed. This date is known as your effective claim date. Waiting more than a full week to request benefits will delay the beginning of your claim and
benefits may not be paid for the week(s) of unemployment that occurred prior to the week of filing. How to apply for UI benefits: We are committed to providing you with prompt and courteous service. Our goal is to ensure that you can apply for
benefits quickly and efficiently. Simply follow these steps: Be ready with the following information: Social Security Number Date of birth (month, day, year) Home address, telephone number, and email address (if available) Whether you have filed a
UI claim in Massachusetts, or in any other state during the past 12 months The names and addresses of all employers you have worked for during the past 15 months, and the dates you worked for each employer. If you are reopening a claim, be prepared
to provide the same information for any employment you have had since your claim was last active. Your Military discharge papers-form DD-214, member 4 (if you were separated from Military service with any branch of the U.S. armed forces within the
past 18 months)If you were employed by the federal government within the past 18 months, the SF-8 and/or SF-50 form given to you by your government employer at the time of your separation The reason why you are no longer working or why your hours
have been reduced Last day of employment The names, dates of birth, and Social Security Numbers of any dependent children that you plan to claim as a dependent Alien registration number or verification that you were legally eligible to work in the
United States, and that you are currently eligible to begin a new job Select the method that is most convenient for you: There are two ways you can apply for benefits. Apply using UI Online: UI Online is a safe, secure, easy-to-use, self-service
system. If you choose to use UI Online, you will complete the information online and submit your application using a computer with internet access. If you do not have access to a computer, visit your local library or One-Stop Career Center to use
free, publicly-available computers. To apply using UI Online (5:00 a.m. to 10:00 p.m. daily): 1. Go to www.mass.gov/dua and select UI Online for Calmants (Illeligible). 2. Then select Apply for Benefits. When you apply for benefits using UI Online
for the first time, you will be asked to enter your Social Security Number (SSN), create a password, and select a security question and answer. It is important for you to remember your password and security question and answer. You will use your SSN
and password to access UI Online each week to request your benefit payment. If you forget your password, you can reset it by clicking Forgot Password, answering the security question, and selecting a new password. 3. Complete all information
requested. You will receive a confirmation message after you submit your application. If your application is interrupted, you can go back and complete it before 10:00 p.m. on Saturday of the same week. Tip: Be sure to provide your telephone number
and email address – it will make it easier for us to contact you if there are questions about your application. Apply by phone using the TeleClaim Center: To apply for benefits by phone (8.30 a.m. to 4:30 p.m. Monday through Friday): 1. Call
the TeleClaim Center toll-free at 877-626-6800:from area codes 351, 413, 508, 774, and 978; or 617-626-6800 from any other area code. 2. Select English or another language. 3. Press 1-to apply for benefits. Enter your SSN and the year you were born.
You will then be connected to an agent who will take the information necessary to file your claim. Note: During peak periods from Monday through Thursday, call scheduling may be implemented providing priority for callers based on the last digit of
their Social Security number. This helps ensure that everyone can get through to the TeleClaim Center in a timely manner. Please check the schedule below before calling: If the last digit of your SSN is: Assigned day to call TeleClaim is: 0,1 Monday
2,3 Tuesday 4, 5, 6 Wednesday 7, 8, 9 Thursday Any last digit Friday How to create or change your Personal Identification Number (PIN) For TeleCert: When you apply for benefits by telephone for the first time, you will be asked to create your PIN.
If you have previously created your PIN, call the PIN Service Line at 617-626-6943. The PIN Service Line is available seven days a week from 5 a.m. to 10 p.m. You will need a touch-tone phone to use the PIN Service Line. Note: Please be aware that
smart phones with QWERTY keyboard sometimes do not work when answering the security question. Instead, use a cellular phone or land line. 

 

 
 Exhibit C Proprietary Information and Invention Assignment Agreement Proprietary Information and Inventions Agreement I recognize that
ANALOGIC CORPORATION, a publicly held corporation, hereinafter called “the Corporation,” is engaged in the manufacture of electronic instrumentation. I understand that: As part of my job with the Corporation I am expected to make new
contributions and inventions of value to the Corporation; and My employment creates a relationship of confidence and trust between me and the Corporation with respect to any information of a confidential or secret nature: applicable to the business
of the Corporation and its subsidiaries [if any], and applicable to the business of any client of the Corporation, which may be made known to me by the Corporation or its subsidiaries (if any) or by any client of the Corporation or learned by me
during the period of my employment (all such information being hereinafter called “Proprietary Information”). By way of illustration, but not limitation, Proprietary Information includes trade secrets, processes, formulas, data, know-how,
improvements, inventions, techniques and customer lists. In consideration of my employment or continued employment, as the case may be, and the compensation received from time to time, I hereby agree as follows: At all times, both during my
employment and after its termination, I will keep in confidence and trust all such Proprietary Information and I will not use such Proprietary Information other than in the course of my work for the Corporation nor disclose any of such Proprietary
information or anything relating to it without written consent of the Corporation. In the event of the termination of my employment by me or by the Corporation for any reason, I will deliver to the Corporation all documents and data of any nature
pertaining to my work and I shall not take with me any documents or data of any description or any reproduction of any description containing or pertaining to any Proprietary Information. HR042 Rev Apr 2012 

 

 
 Proprietary information and Inventions Agreement Page 2 3. I will promptly disclose to the Corporation, or any persons designated byIt,
all improvements, inventions, formulas, processes, techniques, know-how and data, whether or not patentable, made or conceived or first reduced to practice or learned byme, either alone or jointly with others, during the period of my employment,
whether or not in the course of my employment.4. I agree that all said improvements, inventions, formulas, processes, techniques, know-how and data which are related to or useful in the business of the Corporation or its subsidiaries (if any) or of
any client of the Corporation, or result from tasks assigned to me by the Corporation (hereinafter collectively called “Inventions”), shall be the sole property of the Corporation and its assigns or of its client, and the Corporation and
its assigns or its client shall be the sole owner of all patents and other rights in connection therewith; provided, however, that this sentence shall not apply to improvements, inventions, formulas, processes, techniques, know-how and data which
are related to or useful in the business of clients of the Corporation if the same are not related to, or useful in the performance of, contracts between the Corporation and its clients. I further agree as to all such Inventions to assist the
Corporation in every proper way (but at Company’s expense) to obtain and from time to time enforce patents on said Inventions in any and all countries, and to that end I will execute all documents for use in applying for and obtaining such
patents thereon and enforcing same, as Corporation may desire, together with any assignments thereof to Corporation or persons designated by it and I will give testimony, both by deposition and in person in court or before any other tribunal, in any
proceeding relating to the granting of a patent application, proceedings relating to the enforcement of a patent, and proceedings relating to the protection of the rights of the Corporation or persons designated by it in Proprietary Information. My
obligation to assist the Corporation in obtaining and enforcing patents for such Inventions in any and all countries and in otherwise protecting rights in Proprietary information as herein provided, shall continue beyond the termination of my
employment but the Corporation shall compensate me at a reasonable rate after such termination for time actually spent by me at the Corporation’s request on such assistance and shall also reimburse me for all out-of-pocket expenses incurred by
me in connection with the performance of such obligation. 5. As a matter of record I attach hereto a complete list of inventions or improvements which have been made or conceived or first reduced to practice by me alone or jointly with others prior
to my employment, which I desire to remove from the operation of this Agreement; and I covenant that such list is complete. If no such list is attached to this Agreement, I represent that I do not have such inventions and improvements at the time of
signing this Agreement.6. I represent that my performance of all the terms of this Agreement and as an employee of the Corporation does not and will not breach any agreement to keep in confidence proprietary information acquired by me in confidence
or in trust prior to my employment with the Corporation and I agree not to enter into any agreements either written or oral in conflict herewith.16 

 

 
 Proprietary Information and Inventions Agreement Page 337. This Agreement shall be effective as of the first day of my employment by the
Corporation; namely: 8. This Agreement shall be binding upon me, my heirs, executors, assigns, and administrators and shall inure to the benefit of the Corporation, its successors and assigns. Name: Signature: (print) Mark T Frost /s/ Mark T Frost
1/26/63 12/2/15 Date of Birth: Date: Deborah Marino 12/2/2015 Witness Name: Date: (print) 

 EXHIBIT D 

Affirmation of Release 
 I hereby reaffirm
in its entirety the provisions of the Separation Agreement with Analogic Corporation dated July 17, 2017 signed by me including, without limitation, the release of claims contained in Section 7 of that Separation Agreement. 

 

	
	
	
	   

	MARK FROST

			
	
		
	DATE:	 	 
		 	

  
 18

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