Document:

Form of Cash-Settled RSU Agreement

 Exhibit 10.36 
 THE WHITEWAVE FOODS COMPANY 
 2012 CASH-SETTLED RESTRICTED STOCK UNIT
(“RSU”) AWARD AGREEMENT 
 IPO GRANT 

 

 This IPO GRANT AGREEMENT (this “Agreement”), effective as of the date
indicated on the Notice of Grant delivered herewith (the “Notice of Grant”), is made and entered into by and between The Whitewave Foods Company, a Delaware corporation (the “Company”), and the individual named on
the Notice of Grant (“you”). 
 WITNESSETH: 

WHEREAS, the Compensation Committee of the Board of Directors of the Company (the “Committee”) has approved a grant of
cash-settled Restricted Stock Units, and this Award is intended to be upon the effective consummation of the initial public offering of the Class A stock of The WhiteWave Foods Company; and 

WHEREAS, the Board of Directors of the Company has adopted and approved The WhiteWave Foods Company 2012 Stock Incentive Plan (the
“Plan”), which Plan was approved as required by the Company’s stockholders and provides for the grant of Restricted Stock Units and other forms of stock-based compensation to certain selected Employees and non-employee
Directors of the Company and its Subsidiaries (Capitalized terms used and not otherwise defined in this Agreement shall have the meanings set forth in the Plan); and 
 WHEREAS, during your employment, and based upon your position with the Company and/or its Subsidiaries, you have acquired and will continue to acquire, by reason of your position, substantial knowledge of
the operations and practices of the business of the Company; and 
 WHEREAS, the Company desires to assure that, to the extent
and for the period of your service and for a reasonable period thereafter, it may maintain the confidentiality of its trade secrets and proprietary information, and protect goodwill and other legitimate business interests, each of which could be
compromised if any competitive business were to secure your services; and 
 WHEREAS, the Restricted Stock Units and other
Awards provided for under the Plan are intended to comply with the requirements of Rule 16b-3 under the Securities Exchange Act of 1934, as amended; and 
 WHEREAS, the Committee has selected you to participate in the Plan and has awarded to you the Restricted Stock Units, which are referred to in this Agreement as RSUs, described in this Agreement and in
the Notice of Grant. 

 

 NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and
agreements herein contained, and as an inducement to you to continue as an employee of the Company (or its Subsidiaries), you and the Company hereby agree as follows: 
 1. Grant of Award. The Company hereby grants to you and you hereby accept, subject to the terms and conditions set forth in the Plan and in this Agreement, the number of RSUs shown on the Notice of
Grant, effective as of the date indicated on the Notice of Grant (the “Date of Grant”). Each RSU represents the right to receive an amount in cash equal to the value, at the relevant time, of one share of the Company’s Stock,
subject to the terms and conditions set forth in the Plan and in this Agreement. The shares of Stock with respect to which the cash that will be payable upon vesting of the RSUs granted to you pursuant to this Agreement are referred to in this
Agreement as “the Shares.” You must accept this RSU Award in the manner designated by the Company in the Notice of Grant (e.g. electronic acceptance) not later than 90 days after the Date of Grant, or electronic notification of such
Grant, whichever occurs later, or this Award will be rendered void and without effect. Subject to the provisions of Sections 2(c), 2(d), 3(b) and 7 hereof, this Award of RSUs is irrevocable and is intended to conform in all respects with the Plan.

 2. Vesting. 
 (a) Regular Vesting. Except as otherwise provided in the Plan or in this Section 2, your RSUs will vest ratably in three (3) equal annual increments commencing on the first anniversary of
the Date of Grant. 
 (b) Accelerated Vesting. 

(1) Unless otherwise determined by the Committee, or except as provided in an agreement between you and your Employer, if your Service
terminates by reason of Death, Disability or Retirement during the Restriction Period, all unvested RSUs you held at the time of such termination will vest in full at the date of such termination. For purposes of this Agreement,
“Retirement” shall be defined as your retirement from employment or other service to the Company or any Subsidiary after you reach age sixty-five (65). “Disability” shall be defined as your permanent and total
disability (within the meaning of Section 22(e)(3) of the Code). 
 (2) In addition to the vesting provisions contained in
Sections 2(a) and 2(b)(1) above, your RSUs will automatically and immediately vest in full upon a Change in Control. 

 

  

					
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 (c) Forfeiture of Unvested RSUs. Unless otherwise determined by the Committee, or
except as provided in an agreement between you and your Employer, if your Service terminates for any reason other than Death, Disability or Retirement during the Restriction Period, any RSUs you held will be forfeited and canceled as of the date of
such termination of Service. Notwithstanding anything to the contrary in this Section 2, your rights with respect to unvested RSUs shall in all events be immediately forfeited and canceled as of the date of your termination of Service for Cause
as defined in Section 3(b) below. 
 (d) Repayment. Participant agrees and acknow-ledges that this Award Agreement
is subject to any policies that the Committee may adopt from time to time with respect to the repayment to the Company of any benefit received hereunder, including “clawback” policies. 

3. Payment of Cash Value. 
 (a) Payment Upon Vesting. The Company will pay to you (or to your estate in the event of your Death) an amount in cash equal to the fair market value (as determined as provided below) of the Shares
represented by the RSUs that vested on such vesting date as soon as administratively practicable after such vesting date but in no event later than the fifteenth day of the third calendar month beginning after the calendar year in which such RSUs
shall have become vested. The value of Shares shall be equal to the average closing prices of the Company’s Stock for 30 days immediately prior to the applicable vesting date. Notwithstanding the immediately preceding sentence, any cash amount
payable in respect of any RSUs subject to this grant or any similar grants outstanding on the date hereof that become vested on account of your Retirement shall be distributed to you as soon as administratively practicable (but in no event more than
90 days) following the date of your separation from service from the Company, except that, if you are a specified employee (within the meaning of Section 409A of the Code), such distribution shall be made on the day following the six month
anniversary of your separation from service. 
 (b) Forfeiture of Cash Rights in Respect of Shares. Notwithstanding any
provision of this Agreement or the Plan to the contrary, if you are discharged from the employment of the Company or any of its Subsidiaries for Cause (as defined below), your rights in your unvested RSUs will be immediately forfeited and canceled
as of such termination date. For purposes of this Agreement, “Cause” means your (i) willful failure to perform substantially your duties; (ii) willful or serious misconduct that has caused, or could reasonably be expected
to result in, material injury to the business or reputation of an Employer; (iii) conviction of, or entering a plea of guilty or nolo contendere to, a crime constituting a felony; (iv) breach of any written covenant or agreement
with an Employer, any material written policy of

 
any Employer or any Employer’s code of conduct or code of ethics, or (v) failure to cooperate with an Employer in any internal investigation or administrative, regulatory or judicial
proceeding. In addition, your Service shall be deemed to have terminated for Cause if, after your Service has terminated (for a reason other than Cause), facts and circumstances are discovered that would have justified a termination for Cause. Your
RSUs will also be immediately forfeited and canceled in accordance with Section 7 upon your breach of the provisions set forth in Section 7. 
 (c) Compliance With Law. The Plan, the granting and payment in respect of this RSU, and any obligations of the Company under the Plan, shall be subject to all applicable federal, state and foreign
country laws, rules and regulations, and to such approvals by any regulatory or governmental agency as may be required, and to any rules or regulations of any exchange on which the Stock is listed. The Company, in its discretion, may postpone the
granting of this RSUor any other action permitted under the Plan to permit the Company, with reasonable diligence, to complete such stock exchange listing or registration or qualification of such Stock or other required action under any federal,
state or foreign country law, rule or regulation. The Company shall not be obligated by virtue of any provision of the Plan to recognize the vesting of this RSU in violation of any such laws, rules or regulations, and any postponement of the vesting
or settlement of this RSU under this provision shall not extend the term of the RSU. Neither the Company nor its directors or officers shall have any obligation or liability to you with respect to any RSU that shall lapse because of such
postponement. 
 4. Stockholder Rights. Except as set forth in the Plan, neither you nor any person claiming
under or through you shall be, or have any of the rights or privileges of, a stockholder of the Company by reason of the grant of this Award.  
 5. Tax Withholding. The Employer shall have the right to deduct from all amounts paid to you in cash (whether under this Plan or otherwise) any amount required by law to be withheld in respect of
Awards under this Plan as may be necessary in the opinion of the Employer to satisfy any applicable tax withholding requirements under the laws of any country, state, province, city or other jurisdiction, including but not limited to income taxes,
capital gains taxes, transfer taxes, and social security contributions that are required by law to be withheld. 
 6.
Transfer of RSUs. The RSUs granted herein are not transferable except in accordance with the provisions of the Plan. 

7. Covenants Not to Disclose, Compete or Solicit. 
 (a) You acknowledge that (i) the Company is engaged in a continuous program of research, development and production respecting its business throughout the United States (the foregoing, together with
any other businesses in 

 

  

					
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which the Company engages from the date hereof to the date of the termination of your employment with the Company and its Subsidiaries as the “Company Business”); (ii) your work
for and position with the Company and/or one of its Subsidiaries has allowed you, and will continue to allow you, access to trade secrets of, and Confidential Information concerning the Company Business; (iii) the Company Business is national
and international in scope; (iv) the Company would not have agreed to grant you this Award but for the agreements and covenants contained in this Agreement; and (v) the agreements and covenants contained in this Agreement are necessary and
essential to protect the business, goodwill, and customer relationships that Company and its Subsidiaries have expended significant resources to develop. The Company agrees and acknowledges that, on or following the date hereof, it will provide you
with one or more of the following: (a) authorization to access Confidential Information through a new computer password or by other means, (b) authorization to represent the Company in communications with customers and other third parties
to promote the goodwill of the business in accordance with generally applicable Company policies and (c) access to participate in certain restricted access meetings, conferences or training relating to your position with the Company. You
understand and agree that if Confidential Information were used in competition against the Company, the Company would experience serious harm and the competitor would have a unique advantage against the Company. 

(b) For purposes of this Agreement, “Confidential Information” shall mean all business records, trade secrets,
know-how, customer lists or compilations, terms of customer agreements, sources of supply, pricing or cost information, financial information or personnel data and other confidential or proprietary information used and/or obtained by you in the
course of your employment with the Company or any Subsidiary; provided that the term “Confidential Information” will not include information which (i) is or becomes publicly available other than as a result of a disclosure by you
which is prohibited by this agreement or by any other legal, contractual or fiduciary obligation that you may owe to the Company or any Subsidiary, or (ii) is widely known within one or more of the industries in which the Company or any
Subsidiary operates, or you can demonstrate was otherwise known to you prior to becoming an employee of the Company or any Subsidiary, or (iii) is or becomes available to you on a non-confidential basis from a source (other than the Company or
any Subsidiary, including any employee thereof) that is not prohibited from disclosing such information to you by a legal, contractual or fiduciary obligation to the Company or any Subsidiary. You agree not to engage in unauthorized use or
disclosure of Confidential Information, and agree that upon termination of your employment (or earlier if so requested) you will preserve and return to the Company any and all records in

 
your possession or control, tangible and intangible, containing any Confidential Information. You further agree not to keep or retain any copies of such records without written authorization from
a duly authorized officer of the Company covering the specific item retained. 
 (c) Ancillary to the foregoing and this Award,
you hereby agree that, during the term of your employment with the Company or any Subsidiary and for a period of two years thereafter (the “Restricted Period”), you will not, directly or indirectly, individually or on behalf of any person
or entity other than the Company or any of its Subsidiaries: (i) Provide Competing Services (as defined below) to any company or business (other than the Company or any Subsidiary) engaged primarily in the manufacture, distribution, sale or
marketing of any of the Relevant Products (as defined below) in the Relevant Market Area (as defined below); (ii) Approach, consult, solicit business from, or contact or otherwise communicate, directly or indirectly, in any way with any
Customer (as defined below) in an attempt to (1) divert business from, or interfere with any business relationship of the Company or any of its Subsidiaries, or (2) convince any Customer to change or alter any of such Customer’s
existing or prospective contractual terms and conditions with the Company or any Subsidiary; or (iii) Solicit, induce, recruit or encourage, either directly or indirectly, any employee of the Company or any Subsidiary to leave his or her
employment with the Company or any Subsidiary or employ or offer to employ any employee of the Company or any Subsidiary. For the purposes of this section, an employee of the Company or any Subsidiary shall be deemed to be an employee of the Company
or any Subsidiary while employed by the Company and for a period of sixty (60) days thereafter. 
 (d) For purposes of
this Agreement, the following terms shall have the meanings indicated: 
 (i) to provide “Competing Services”
means to provide, manage, supervise, or consult about (whether as an employee, owner, partner, stockholder, investor, joint venturer, lender, director, manager, officer, employee, consultant, independent contractor, representative or agent, or
otherwise) any services that are similar in purpose or function to services you provided to the Company in the two year period preceding the termination of your employment, that might involve the use or disclosure of Confidential Information, or
that would involve business opportunities related to Relevant Products. 
 (ii) “Customer” means any and all
persons or entities who purchased any Relevant Product from the Company or any Subsidiary during the term of your employment with the Company or any Subsidiary and as to whom, within the course of the last two (2) years of your employment with
the Company or any Subsidiary, (a) you or someone under your supervision had contact and/or (b) you received or had access to Confidential Information.

 

  

					
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 (iii) “Relevant Product(s)” means (i) organic dairy products
(including milk, cream and cultured dairy products) or organic juice, (ii) dairy or other non-dairy coffee creamers or other coffee whiteners, (iii) coffee-based beverages, (iv) soy milk or any other soy-based beverage or cultured soy
product, (v) almond milk or any other almond-based beverage or cultured almond product, (vi) coconut milk or any other coconut-based beverage or cultured soy product, and/or (vii) any other product not listed above that was developed
or sold by the Company or a Subsidiary in the course of the last two years of your employment with the Company or any Subsidiary. 
 (iv) “Relevant Market Area” means the counties (or county equivalents) in the United States where the Company does business that you assist in providing services to and/or receive Confidential
Information about in the two year period preceding the termination of your employment so long as the Company continues to do business in that geographic market area during the Restricted Period. 

(e) Notwithstanding the foregoing, (1) the restrictions of subsection 7(a) above shall not prohibit your employment with a
non-competing, independently operated subsidiary, division, or unit of a diversified company (even if other separately operated portions of the diversified company are involved in Relevant Products) if in advance of your providing any services, you
and the diversified company that is going to employ you both provide the Company with written assurances that are satisfactory to the Company establishing that (a) the entity, subsidiary, division, or unit of the diversified business that you
are going to be employed in is not involved in Relevant Products or preparing to become involved in Relevant Products, and (b) your position will not involve Competing Services of any kind, and (2) you are not prohibited from owning,
either of record or beneficially, not more than five percent (5%) of the shares or other equity of any publicly traded company. Your obligation under this Section 7 shall survive the vesting or forfeiture of your RSUs and/or the payment of
any cash amount in respect of, or forfeiture of, the underlying Shares. 
 (f) Any breach of any provision of this
Section 7 will result in immediate and complete forfeiture of your unvested RSUs and your right in respect of the underlying Shares. In addition, you hereby agree that if you violate any provision of this Section 7, the Company will be
entitled to injunctive relief, specific performance, or such other legal and equitable relief as is needed to prevent or enjoin any violation of the provisions of this Agreement in addition to and not to the exclusion of any other remedy that may be
allowed by law for damages experienced prior to the issuance of injunctive relief. You also agree that, if you are found to have breached any of the time-limited covenants in this Section 7, the time period during which you are subject to such
covenant shall be extended by one day for each day you are found to have violated such restriction, up to a maximum of two years. 
 (g) You acknowledge that you have given careful consideration to the restraints imposed by this Agreement, and

 
you fully agree that they are necessary for the reasonable and proper protection of the business of the Company and its Subsidiaries. The restrictions set forth herein shall be construed as a
series of separate and severable covenants. You agree that each and every restraint imposed by this Agreement is reasonable with respect to subject matter, time period, and geographical area. Except as expressly set forth herein, the restraints
imposed by this Agreement shall continue during their full time periods and throughout the geographical area set forth in this Agreement. 
 (h) You stipulate and agree that one of the purposes of this Agreement is to fully resolve and bring finality to any concerns over the enforceability of the Restrictive Covenants. You also stipulate and
agree that (a) the enforceability of the Restrictive Covenants and (b) the Company’s agreement herein to provide you with this RSU Award are mutually dependent clauses and obligations without which this Agreement would not be made by
the parties. Accordingly, you agree not to sue otherwise pursue a legal claim to set aside or avoid enforcement of the Restrictive Covenants. And, in the event that you or any other party pursues a legal challenge to the enforceability of any
material provision of the restrictions in Section 7 of this Agreement and a material provision is found unenforceable by a court of law or other legally binding authority such that you are no longer bound by a material provision of
Section 7, then (1) your unvested RSUs and undistributed cash payments otherwise due shall be forfeited and (2) you hereby agree that you will return to the Company any amount that was previously paid to you. The foregoing is not
intended as a liquidated damage remedy but is instead a return-of-gains and contractual recission remedy due to the mutual dependent nature of the subject provisions in the Agreement. 

(i) If any of the Restrictive Covenants are deemed unenforceable as written, you and the Company expressly authorize the court to
revise, delete, or add to the restrictions contained in this Section 7 to the extent necessary to enforce the intent of the parties and to provide the goodwill, Confidential Information, and other business interests of the Company and its
Subsidiaries with effective protection. And, in the event that such reformation of the restriction is acceptable to the Company, then the forfeiture and rescission (return of gain) remedies provided for in subsection 7(h) above shall not apply.

 (j) The provisions of this Section 7 are not intended to override, supercede, reduce, modify or affect in any manner
any other non-competition or non-solicitation agreement between you and the Company or any Subsidiary, and instead are intended to supplement any such agreements. 
 8. Plan Incorporated. You accept the RSUs hereby granted subject to all the provisions of the Plan, which, except as expressly contradicted by the terms hereof, are incorporated into this
Agreement, including the provisions that authorize the Committee to administer and interpret the Plan and which provide that the Committee’s decisions, determinations and interpretations with respect to the Plan are final and conclusive on all
persons affected thereby. 

 

  

					
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 9. Assignment of Intellectual Property Rights. In consideration of the granting of
this RSU Award, you hereby agree that all right, title and interest to any and all products, improvements or processes (“Intellectual Property”) whatsoever, discovered, invented or conceived during the course of employment with the
Company or any of its Subsidiaries, relating to the subject matter of the business of the Company or any of its Subsidiaries or which may be directly or indirectly utilized in connection therewith, are vested in the Company, and you hereby forever
waive any and all interest you have in such Intellectual Property and agree to assign such Intellectual Property to the Company. In addition, all writings produced in the course of work or employment for the Company or any Subsidiary are works
produced for hire and the property of the Company and its Subsidiaries, including any copyrights for those writings. 
 10.
Miscellaneous. 
 (a) No Guaranteed Employment. Nothing contained in this Agreement shall affect the right of the
Company to terminate your employment at any time, with or without Cause, or shall be deemed to create any rights to employment on your part. The rights and obligations arising under this Agreement are not intended to and do not affect the employment
relationship that otherwise exists between the Company and you, whether such employment relationship is at will or defined by an employment contract. Moreover, this Agreement is not intended to and does not amend any existing employment contract
between the Company and you. To the extent there is a conflict between this Agreement and such an employment contract, the employment contract shall govern and take priority. 
 (b) Notices. Any notice to be given to the Company under the terms of this Agreement shall be addressed to the Company at its principal executive offices, and any notice to be given to you shall be
addressed to you at the address set forth on the attached Notice of Grant, or at such other address for a party as such party may hereafter designate in writing to the other. Any such notice shall be deemed to have been duly given if mailed, postage
prepaid, addressed as aforesaid. 
 (c) Binding Agreement. Subject to the limitations in this Agreement on the
transferability by you of the Award granted herein, this Agreement shall be binding upon and inure to the benefit of the representatives, executors, successors or beneficiaries of the parties hereto.

 (d) Governing Law. The interpretation, performance and enforcement of
this Agreement shall be governed by the laws of the State of Delaware and the United States, as applicable, without reference to the conflict of laws provisions thereof. 
 (e) Severability. Except as otherwise expressly provided for herein in Section 7 above, if any provision of this Agreement is declared or found to be illegal, unenforceable or void, in whole
or in part, then the parties shall be relieved of all obligations arising under such provision, but only to the extent that it is illegal, unenforceable or void, it being the intent and agreement of the parties that this Agreement shall be deemed
amended by modifying such provision to the extent necessary to make it legal and enforceable while preserving its intent or, if that is not possible, by substituting therefor another provision that is legal and enforceable and achieves the same
objectives. 
 (f) Interpretation. All section titles and captions in this Agreement are for convenience only, shall not
be deemed part of this Agreement, and in no way shall define, limit, extend or describe the scope or intent of any provisions of this Agreement. 
 (g) Entire Agreement. Except as otherwise provided for in Section 7 above, this Agreement constitutes the entire agreement among the parties hereto pertaining to the subject matter hereof and
supersedes all prior agreements and understandings pertaining thereto. 
 (h) No Waiver. No failure by any party to
insist upon the strict performance of any covenant, duty, agreement or condition of this Agreement or to exercise any right or remedy consequent upon a breach thereof shall constitute waiver of any such breach or any other covenant, duty, agreement
or condition. 
 (i) Counterparts. This Agreement may be executed in counterparts, all of which together shall
constitute one agreement binding on all the parties hereto, notwithstanding that all such parties are not signatories to the original or the same counterpart. 
 (j) Relief. In addition to all other rights or remedies available at law or in equity, the Company shall be entitled to injunctive and other equitable relief to prevent or enjoin any violation of
the provisions of this Agreement. 
 END OF AGREEMENT

 

  

					
		  	Page 5 of 5	  	2012 RSUForm of Performance Unit Award Agreement

 Exhibit 10.1 
 2012 PERFORMANCE UNIT AWARD AGREEMENT 
 To: [Name]: 

You have been selected as a recipient of performance units (“Performance Units”) under the 2004 Incentive Plan of Dril-Quip,
Inc., as amended and restated effective as of May 10, 2012 (the “Plan”). This Award Agreement (“Agreement”) and the Plan together govern your rights and set forth all of the conditions and
limitations affecting such rights. Terms used in this Agreement that are defined in the Plan will have the meanings ascribed to them in the Plan. If there is any inconsistency between the terms of this Agreement and the terms of the Plan, the
Plan’s terms will supersede and replace the conflicting terms of this Agreement. 
  

	1.	Terms. Pursuant to the terms and conditions of the Plan and this Agreement, you have been granted Performance Units as outlined below: 

 

			
	 Grant Date:
	  	
		
	 Performance Period:
	  	
		
	 Vesting Date:
	  	
		
	 Performance Units At Target:
	  	
		
	 Performance Goal:
	  	Schedule I to this Agreement describes the manner in which the total number of Performance Units that vest hereunder will be calculated (the “Performance
Goal”).

  

	2.	Vesting. After the close of the Performance Period, but before the Vesting Date, the Committee shall determine and certify the extent to which the
Performance Goal has been achieved in accordance with Schedule I. The Performance Units will vest and become non-forfeitable on the Vesting Date in an amount determined based on the results of the Performance Goal, provided you have been
continuously employed by the Company or an affiliate of the Company at all times from the Grant Date until the Vesting Date. For the avoidance of doubt, if the Committee determines that the level of achievement of the Performance Goal does not meet
the minimum threshold requirement specified in Schedule I, then all Performance Units shall be forfeited. If you are not employed on the Vesting Date, you shall have no rights under this Agreement and all Performance Units shall be forfeited as of
your termination date. 

  

	3.	Book Entry Account. The Company shall establish (or shall instruct its transfer agent or stock plan administrator to establish) a book entry account
representing the Performance Units at target in your name effective as of the Grant Date, provided that the Company shall retain control of the Performance Units in such account until the Performance Units have become vested in accordance with this
Agreement and shares of Common Stock have been issued, if any, in settlement of the Performance Units. 

	4.	Distribution of Shares. You shall receive one share of Common Stock in satisfaction of each vested Performance Unit credited to your account, which shall
be registered in your name and transferable by you, on the Vesting Date. 

  

	5.	Stockholder Rights; Dividend Equivalents. The Performance Units do not confer on you any rights of a stockholder of the Company unless and until shares of
Common Stock are in fact issued to you in connection with the vested Performance Units. However, if and when cash dividends or other cash distributions are paid or distributed with respect to the Common Stock while the Performance Units are
outstanding, the dollar amount of such dividends or distributions with respect to the number of shares of Common Stock then underlying the Performance Units shall be reflected in your account. Any such cash dividends or other cash distributions
shall vest and be paid in cash if and at such times the underlying Performance Units vested. 

  

	6.	Transferability. No rights granted under this Agreement can be assigned or transferred, whether voluntarily or involuntarily, by operation of law or
otherwise, except by will or the laws of descent and distribution. In the event of any transfer or assignment of rights granted under this Agreement in accordance with this Section 6, the person or persons, if any, to whom such rights are
transferred by will or by the laws of descent and distribution shall be treated after your death the same as you under this Agreement. Any attempted transfer or assignment of rights under this Agreement prohibited under this Section 6 shall be
null and void. 

  

	7.	Change of Control. In the event of a Change of Control prior to end of the Performance Period, the Performance Period shall be deemed to end on the date
of the Change of Control and you will vest as of such date in a number of Performance Units based on the level of achievement of the Performance Goal through the end of such adjusted Performance Period, calculated in accordance with Schedule I and
certified by the Committee. For purposes of this Agreement, “Change of Control” shall mean: 

  

	 	(i)	there shall have occurred an event required to be reported with respect to the Company in response to Item 6(e) of Schedule 14A of Regulation 14A (or in response
to any similar item or any similar schedule or form) promulgated under the Exchange Act, whether or not the Company is then subject to such reporting requirement; 

 

	 	(ii)	any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) shall have become the “beneficial owner” (as defined in Rule
13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 30% or more of the combined voting power of the Company’s then outstanding voting securities; 

 

	 	(iii)	the Company is a party to a merger, consolidation, sale of assets or other reorganization, or a proxy contest, as a consequence of which members of the Board in office
immediately prior to such transaction or event constitute less than a majority of the Board thereafter; or 

  

	 	(iv)	during any period of two consecutive years, individuals who at the beginning of such period constituted the Board (including, for this purpose, any new director whose
election or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors then still in office who were directors at the beginning of such period) cease for any reason to constitute at
least a majority of the Board. 

 The vested Performance Units shall be paid in Common Stock or cash (based on the
value of the Common Stock immediately prior to the Change of Control multiplied by the number of vested Performance Units), in the discretion of the Committee, no later than 10 business days after the date of the Change of Control. 

  
 2 

	8.	Adjustments. As provided in Section 16 of the Plan, certain adjustments may be made to the Common Stock related to the Performance Units upon the
occurrence of events or circumstances described in Section 16 of the Plan. Without limiting the generality of the foregoing, and except as otherwise provided in the Plan, in the event of any merger, consolidation, reorganization,
recapitalization, reclassification or other capital or corporate structure change of the Company, for all purposes references herein to Common Stock or to Performance Units shall mean and include all securities or other property (other than cash)
that holders of Common Stock are entitled to receive in respect of Common Stock by reason of each such successive event, which securities or other property (other than cash) shall be treated in the same manner and shall be subject to the same
restrictions as the underlying Performance Units. 

  

	9.	Withholding; Code Section 409A. The Company has the right to deduct applicable taxes from any payment under this Agreement and withhold, at the time
of vesting of shares of Common Stock, an appropriate number of shares of Common Stock for payment of required withholding taxes or to take such other action as may be necessary in the opinion of the Company to satisfy all obligations for withholding
of such taxes. The Fair Market Value of the shares of Common Stock withheld for payment of required withholding taxes shall equal no more than the required minimum withholding taxes. The Performance Units granted under this Agreement are intended to
comply with or be exempt from Code Section 409A, and ambiguous provisions of this Agreement, if any, shall be construed and interpreted in a manner consistent with such intent. 

 

	10.	Notice. Any written notice required or permitted by this Agreement shall be mailed, certified mail (return receipt requested) or hand-delivered. Notice to
the Company shall be addressed to the Company’s General Counsel at 6401 N. Eldridge Parkway, Houston, Texas 77041. Notice to you shall be addressed to you at your most recent home address on record with the Company. Notices are effective upon
receipt. 

  

	11.	Requirements of Law. The granting of Performance Units and the issuance of shares of Common Stock under the Plan will be subject to all applicable laws,
rules, and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required. 

  

	12.	Miscellaneous. 

  

	 	(i)	The granting of this Award shall not give you any rights to similar grants in future years or any right to be retained in the employ or service of the Company or its
subsidiaries or interfere in any way with the right of the Company or any such subsidiary to terminate your employment or services at any time, or your right to terminate your employment or services at any time. 

 

	 	(ii)	If any term, provision, covenant or restriction contained in this Agreement is held by a court or a federal regulatory agency of competent jurisdiction to be
invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions contained in this Agreement shall remain in full force and effect, and shall in no way be affected, impaired or invalidated. 

 

	 	(iii)	THIS AWARD SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE WITHOUT GIVING EFFECT TO THE PRINCIPLES OF CONFLICT OF LAWS.

  
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	 	(iv)	This Award shall be binding upon and inure to the benefit of the Company and its successors and assigns. 

 

	 	(v)	This Award, including the relevant provisions of the Plan, constitutes the entire agreement between the parties with respect to the subject matter hereof and
supersedes all prior agreements and understandings, both written and oral, with respect to the subject hereof. This Award may not be amended, except by an instrument in writing signed by the Company and you. 

 

	 	(vi)	This Award may be executed in one or more counterparts, each of which shall be an original, but all of which together shall constitute one and the same
instrument 

  

			
		 	DRIL-QUIP, INC.
		 	  

		 	Blake T. DeBerry
		 	President and Chief Executive Officer
		 	
		 	The undersigned grantee acknowledges receipt of a copy of the Plan, represents that he or she is familiar with the terms and provisions thereof, and hereby accepts this Award
subject to all of the terms and provisions hereof and thereof.
		 	
		 	GRANTEE
		 	  

		 	[NAME]

  
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