Document:

EX-10.1

 Exhibit 10.1 

April 7, 2014 
 Anthony Hunt 

85 Ford Rd 
 Sudbury, MA 01776 

 

	Re:	Employment Agreement 

 Dear Anthony: 

This letter agreement (the “Agreement”) sets forth the terms of your employment with Repligen Corporation (the “Company”). This Agreement
supersedes any prior oral or written agreements or understandings related to the terms and conditions of your employment. 
 1. Position. Your
position with the Company will be Chief Operating Officer and you will report directly to the Chief Executive Officer of the Company. This is a full-time position. While you render services to the Company, you will not engage in any other
employment, consulting or other business activity (whether full-time or part-time) that would create a conflict of interest with the Company. 
 2. Start
Date. Your employment will begin on May 5, 2014, unless another date is mutually agreed upon by you and the Company. For purposes of this Agreement, the actual first day of your employment shall be referred to as the “Start Date.”

 3. Salary. The Company will pay you a salary at the rate of $330,000 per year (the “Base Salary”), payable in accordance with the
Company’s standard payroll schedule and subject to applicable deductions and withholdings. Your salary will be subject to periodic review and adjustments at the Company’s discretion. 

4. Annual Bonus. You will be eligible to receive an annual performance bonus under the Company’s Executive Incentive Compensation Plan (or such
other applicable plan or program adopted by the Company) (the “Bonus Plan”). The Company will target the bonus at up to 55% of the Base Salary. For 2014, the target bonus will be prorated at 36.7% based upon your commencing employment on
the date referred to in paragraph 2. The actual bonus percentage is discretionary and will be subject to the Company’s assessment of your performance, as well as business conditions at the Company. The bonus also will be subject to approval by
and adjustment at the discretion of the Company’s board of directors or compensation committee and the terms of the Bonus Plan; provided that you shall be eligible for a prorated bonus for 2014 based upon the number of days in 2014 that you
work for the Company. The annual performance bonus, if any, shall be paid between January 1st and March 15th of the calendar year
following the applicable bonus year. The Company expects to review your job performance on an annual basis and will discuss with you the criteria which the Company will use to assess your performance for bonus purposes. The Company also may make
adjustments in the targeted amount of your annual performance bonus. 
 5. Stock Options and Incentive Grants. The Company shall grant you an
incentive stock option to purchase 50,000 shares of the Company’s Common Stock (the “Option Grant”) and a restricted stock unit award for 25,000 shares of the Company’s Common Stock (the “RSU Grant” and collectively
with the Option Grant, the “Equity Awards”)) under the Company’s 2012 Stock Option and Incentive Plan (the “Plan”). The foregoing options shall be issued at an exercise price equal to the fair market value of the Common
Stock as determined by the Company’s board of directors on the date of grant (the “Grant Date”). Twenty percent (20%) of the Equity Awards shall vest and become exercisable on the first, second, third, fourth and fifth
anniversaries of the Grant Date, respectively, and the Equity Awards shall be further subject to the terms and conditions set forth in the Plan and the Company’s associated Incentive Stock Option Agreement and Restricted Stock Unit Award
Agreements. In addition, you will be eligible to receive additional incentive equity awards under the Company’s executive incentive plans or programs (such plan or program, an “LTI Plan”). The Company will target the value of any such
awards at an aggregate value of 65% and 75% of your total target compensation (presently estimated to be $332,375 and $383,625) in 2015 and 

 
2016, respectively. Any actual awards under a LTI Plan (“LTI Awards”) are discretionary and will be subject to the Company’s assessment of your performance, as well as business
conditions at the Company. Any LTI Awards will be subject to approval by and adjustment at the discretion of the Company’s board of directors or compensation committee and the terms of any applicable LTI Plan. As with the Bonus, the Company
expects to review your job performance on an annual basis and will discuss with you the criteria which the Company will use to assess your performance for LTI Plan purposes. The Company also may make adjustments in the targeted amount of any LTI
Awards. 
 6. Benefits. You will be eligible to participate in the employee benefits and insurance programs generally made available to the
Company’s full-time employees which currently include health, life, short and long-term disability and a 401(k) plan. Details of these benefits programs, including mandatory employee contributions, and, if applicable, waiting periods, will be
made available to you when you start. You will also be eligible for up to 20 days of Paid Time Off per year (vacation /personal time) which shall accrue on a prorated basis, in accordance with the Company’s vacation policy as in effect from
time to time. 
 7. At-will Employment, Severance. Your employment is “at will,” meaning you or the Company may terminate it at any time
for any or no reason at which time you will be entitled to Accrued Obligations, defined as (1) the portion of your Base Salary that has accrued prior to any termination of your employment with the Company and has not yet been paid, (2) an
amount equal to the value of your accrued unused vacation days and (3) the amount of any expenses properly incurred by you on behalf of the Company prior to any such termination and not yet reimbursed and to no other compensation, provided,
however, in the event the Company terminates your employment without Cause (as defined below), in addition to the Accrued Obligations, the Company shall provide to you the following termination benefits (the “Termination Benefits”):

 (i) continuation of your base salary for a period of 6 months at the rate then in effect in accordance with the terms of the
Company’s standard payroll schedule (solely for purposes of Section 409A of the Internal Revenue Code of 1986, as amended, each payment is considered a separate payment (“Salary Continuation Payments”)); and 

(ii) continuation of group health plan benefits for a period of 6 months to the extent authorized by and consistent with 29 U.S.C. § 1161
et seq. (commonly known as “COBRA”), with the cost of the regular premium for such benefits shared in the same relative proportion by the Company and you as in effect on the date of termination. 

(iii) full vesting of 50% of the then unvested Equity Awards, provided that you shall have with 90 days from such termination to exercise the
Option Grant. 
 Notwithstanding anything to the contrary in this Agreement, you shall not be entitled to any Termination Benefits unless you first
(i) enter into, do not revoke, and comply with the terms of a separation agreement in a form acceptable to the Company which shall include a release in favor of the Company and related persons and entities (the “Release”);
(ii) resign from any and all positions, including, without implication of limitation, as a director, trustee, and officer, that you then hold with the Company and any affiliate of the Company; and (iii) return all Company property and
comply with any instructions related to deleting and purging duplicates of such Company property. The Salary Continuation Payments shall commence within 60 days after the date of termination; provided, however, that if the 60-day period
begins in one calendar year and ends in a second calendar year, the Salary Continuation Payments shall begin to be paid in the second calendar year. All compensation and benefits payable to you, other than the Termination Benefits, shall terminate
on the date of termination of your employment. 
 8. Representation Regarding Other Obligations. This offer is conditioned on your representation
that your former employer Life Technologies, Inc. and Thermo Fisher have assured you in writing that your employment by and rendering of services to Repligen Corporation as its COO shall not constitute a violation of any noncompete agreement between
you and those companies. If you have entered into any agreement that may restrict your activities on behalf of the Company, please provide Walter C. Herlihy with a copy of such agreement as soon as possible. You also represent that you have not
violated, and covenant that you will not violate, any other obligation to any previous employer or any other party, including that you have not used and will not use or disclose any trade secret or other proprietary right of any previous employer or
any other party. 

  
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 9. Definitions. For purposes of this Agreement: 

“Cause” means (i) conduct constituting a material act of misconduct in connection with the performance of your duties, including, without
limitation, misappropriation of funds or property of the Company or any of its subsidiaries or affiliates other than the occasional, customary and de minimis use of Company property for personal purposes; (ii) the commission of any felony or a
misdemeanor involving moral turpitude, deceit, dishonesty or fraud; (iii) non-performance of your duties hereunder (other than by reason of your physical or mental illness, incapacity or disability) or repeated violations of your material
responsibilities and material duties as determined in good faith by the Company and which has continued for more than 30 days following written notice which notice shall specify in reasonable detail the performance problems and the actions required
to cure such performance problems ; (iv) a breach by you of any of the material provisions contained in any other written agreement by and between you and the Company that, if cureable, is not cured within thirty (30) days after the
Company notifies you in writing that it believes you have materially breached your obligations under this Agreement, which notice shall specify in reasonable detail such breach and the actions required to cure such breach ; (v) a material
violation of any of the Company’s written employment policies as applied to other employees in the Company which has continued for more than 30 days following written notice which notice shall specify in reasonable detail such violation and the
actions required to cure such violation; or (vi) failure to cooperate with a bona fide internal investigation or an investigation by regulatory or law enforcement authorities, after being instructed by the Company to cooperate, or the willful
destruction or failure to preserve documents or other materials known to be relevant to such investigation or the inducement of others to fail to cooperate or to produce documents or other materials in connection with such investigation. 

10. Taxes; Section 409A. All forms of compensation referred to in this Agreement are subject to reduction to reflect applicable withholding and
payroll taxes and other deductions required by law. You hereby acknowledge that the Company does not have a duty to design its compensation policies in a manner that minimizes your tax liabilities, and you will not make any claim against the Company
or its board of directors related to tax liabilities arising from your compensation. Anything in this Agreement to the contrary notwithstanding, if at the time of your separation from service within the meaning of Section 409A of the Code, the
Company determines that you are a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code, then to the extent any payment or benefit that you become entitled to under this Agreement on account of your
separation from service would be considered deferred compensation subject to the 20 percent additional tax imposed pursuant to Section 409A(a) of the Code as a result of the application of Section 409A(a)(2)(B)(i) of the Code, such payment
shall not be payable and such benefit shall not be provided until the date that is the earlier of (A) six months and one day after your separation from service, or (B) your death. If any such delayed cash payment is otherwise payable on an
installment basis, the first payment shall include a catch-up payment covering amounts that would otherwise have been paid during the six-month period but for the application of this provision, and the balance of the installments shall be payable in
accordance with their original schedule. All in-kind benefits provided and expenses eligible for reimbursement under this Agreement shall be provided by the Company or incurred by you during the time periods set forth in this Agreement. All
reimbursements shall be paid as soon as administratively practicable, but in no event shall any reimbursement be paid after the last day of the taxable year following the taxable year in which the expense was incurred. The amount of in-kind benefits
provided or reimbursable expenses incurred in one taxable year shall not affect the in-kind benefits to be provided or the expenses eligible for reimbursement in any other taxable year. Such right to reimbursement or in-kind benefits is not subject
to liquidation or exchange for another benefit. To the extent that any payment or benefit described in this Agreement constitutes “non-qualified deferred compensation” under Section 409A of the Code, and to the extent that such
payment or benefit is payable upon your termination of employment, then such payments or benefits shall be payable only upon your “separation from service.” The determination of whether and when a separation from service has occurred shall
be made in accordance with the presumptions set forth in Treasury Regulation Section 1.409A-l(h). The Company and you intend that this Agreement will be administered in accordance with Section 409A of the Code. To the extent that any
provision of this Agreement is ambiguous as to its compliance with Section 409A of the Code, the provision shall be read in such a manner so that all payments hereunder comply with Section 409A of the Code. The Company makes no
representation or warranty and shall have no liability to you or any other person if any provisions of this Agreement are determined to constitute deferred compensation subject to Section 409A of the Code but do not satisfy an exemption from,
or the conditions of, such Section. 
 11. Interpretation, Amendment and Enforcement. This Agreement and the Equity Documents, as modified herein,
constitute the complete agreement between you and the Company, contain all of the terms of your 

  
 3 

 
employment with the Company and supersede any prior agreements, representations or understandings (whether written, oral or implied) between you and the Company. The terms of this Agreement and
the resolution of any disputes as to the meaning, effect, performance or validity of this Agreement or arising out of, related to, or in any way connected with, this Agreement, your employment with the Company or any other relationship between you
and the Company (the “Disputes”) will be governed by Massachusetts law, excluding laws relating to conflicts or choice of law. You and the Company submit to the exclusive personal jurisdiction of the federal and state courts located in the
Commonwealth of Massachusetts in connection with any Dispute or any claim related to any Dispute. 
 12. Successors and Assigns. This Agreement shall
be binding upon and inure to the benefit of both parties and their respective successors and assigns, including any corporation with which or into which the Company may be merged or which may succeed to its assets or business. 

13. Other Terms. Your employment with the Company will be on an “at will” basis. In other words, you or the Company may terminate your
employment for any reason and at any time, with or without cause. Although your job duties, title, compensation and benefits, as well as the Company’s benefit plans and personnel policies and procedures, may change from time to time, the
“at will” nature of your employment may only be changed in an express written agreement signed by you and the Company. 
 In addition, this offer
is subject to satisfactory background and reference checks. As with all employees, our offer to you is also contingent on your submission of satisfactory proof of your identity and your legal authorization to work in the United States. You also will
be required to sign, as a condition of your employment, the Company’s standard form of non-disclosure agreement. 
 We are excited about the prospect
of having you join the Company. We look forward to receiving a response from you within one week acknowledging, by signing below, that you have accepted this Agreement. 

 

			
	Very truly yours,
		
	By:	 	 /s/ Walter C. Herlihy

	Name:	 	Walter C. Herlihy
		
	Title:	 	President and Chief Executive Officer

 I have read and accept this employment offer: 
  

			
	By:	 	 /s/ Anthony Hunt

	Name:	 	Anthony Hunt
		
	Dated:	 	

  
 4EX-10.1

 Exhibit 10.1 
  

 
 STOCK OPTION PROGRAM 

FEBRUARY 18, 2014 
 KEY EMPLOYEE AWARD

 TERMS AND CONDITIONS 
 This
Key Employee Award Terms and Conditions describes terms and conditions of Stock Option (or Stock Appreciation Rights) Awards, as part of the ConocoPhillips Stock Option Program (Program), granted under the 2011 Omnibus Stock and Performance
Incentive Plan of ConocoPhillips (referred to as the Plan) by ConocoPhillips (Company) to certain eligible Employees (Employees). These Terms and Conditions, together with the Award Summary given to each Employee receiving an Award, form the Award
Agreement (the Agreement) relating to the Awards described. The Agreement covers both Stock Options and Stock Appreciation Rights, and the term Employee covers recipients of Awards made either in Stock Options or Stock Appreciation Rights. 

 

	1.	 Type and Size of Grant. Subject to the Plan and this Agreement, the Company grants to certain eligible Employees a Nonqualified Stock
Option to purchase all or any part of an aggregate number of shares of Common Stock of the Company. In certain countries, grants will be in the form of Stock Appreciation Rights (SARs). Individual awards will be as set forth in the Award Summary
given to each Employee to whom an Award is granted. The Award Summary for each Employee is made a part of this Agreement with regard to such Employee. 

  

	2.	 Grant Date, Price, and Plan. The grant date is February 18, 2014 and the Grant Price is set forth on the Award
Summary given to each Employee to whom an Award is granted. Awards are made under the 2011 Omnibus Stock and Performance Incentive Plan. 

  

	3.	 Term of Awards, Exercise Installments, and Last Date to Exercise. Except as otherwise noted in this Agreement, the following summary
table describes term of awards, exercise installments, and last date to exercise, subject to the more detailed provisions set forth below: 

  

					
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 Exhibit 10.1 
  

	    	 Summary Table 

  

					
	  

Summary of Exercise Rules 

	Status	  	Condition	  	Last Date to Exercise
	Active Employee	  	 	  	10 years from grant date
	Retirement (age 55 and 5 years of service)	  	Prior to 6 months from grant date	  	Canceled upon Termination
	  	6 months from grant date & after	  	10 years from grant date
	Layoff	  	Prior to 6 months from grant date	  	Canceled upon Termination
	  	6 months to 1 year from grant date	  	10 years from grant date (award is prorated)
	  	1 year from grant date & after	  	10 years from grant date
	Disability	  	Any date after grant date	  	10 years from grant date
	Death	  	Any date after grant date	  	10 years from grant date
	Divestitures, outsourcing, and moves to joint ventures	  	Any date after grant date	  	Canceled upon Termination, unless approval otherwise
	All other Terminations	  	 	  	Canceled upon Termination

  

	 	(a)	 Exercise Installments and Expiration. Stock Options/SAR’s granted under this Agreement will become exercisable to the extent that one
third of the number of shares of Stock subject to the Stock Option/SAR (rounded down to nearest whole share) shall be exercisable on the first anniversary date of the Stock Option/SAR grant. On the second anniversary date of the Stock Option/SAR
grant, an additional one third of the number of shares of Stock (rounded down to nearest whole share) shall become exercisable. On the third anniversary date of the Stock Option/SAR grant, the remaining shares shall become exercisable. To the extent
that an installment is not exercised when it becomes first exercisable, it will remain exercisable at any time thereafter until the Award shall be canceled, expire, or be surrendered. A Stock Option or SAR expires on the tenth anniversary of the
date on which it was granted. 

  

	 	(b)	 Last Date to Exercise (Terminations). 

	 	(i)	 General Rule for Termination. If, prior to the exercise of Stock Options/SAR grants, the Optionee’s employment with a Participating
Company shall be terminated for any reason except death, Disability, Retirement, or Layoff, such Award shall be canceled and all rights thereunder shall cease; provided that the Authorized Party may, in its or his sole discretion, determine that all
or any portion of any other Award shall not be canceled due to Termination of Employment. 

  

					
	 Effective 2/18/2014
	  	- 2 -	  	

 Exhibit 10.1 
  

	 	(ii)	 Layoff Within Six Months. If, prior to a date six months from the date an Award is granted, the Optionee’s employment with a
Participating Company shall be terminated by reason of Layoff, such Award shall be canceled and all rights thereunder shall cease. 

  

	 	(iii)	 Layoff After Six Months but Within One Year. If, on or after a date six months from the date an Award is granted but prior to a date one
year from the date an Award is granted, the Optionee’s employment with a Participating Company shall be terminated by reason of Layoff, the Optionee shall retain a prorated number of the Award shares granted. The number of Award shares retained
will be computed by multiplying the original number of Award shares granted by a fraction, the numerator of which is the number of full months of employment from the first day of the month in which the Award was granted until the date the employee
is terminated and the denominator of which is 12. Such calculation shall be rounded down to the nearest whole share. 

  

	 	(iv)	 Layoff After One Year. If, on or after a date one year from the date an Award is granted, the Optionee’s employment with a
Participating Company shall be terminated by reason of Layoff, the Optionee shall retain all rights provided by the Award at the time of such Termination of Employment. 

 

	 	(v)	 Retirement After Six Months. If, on or after a date six months from the Grant Date of an Award, the Optionee’s employment with a
Participating Company shall be terminated by reason of Retirement, the Optionee shall retain all rights provided by the Award at the time of such Termination of Employment. 

 

	 	(vi)	 Disability. If, after the date the Award is granted, an Optionee shall terminate employment following Disability of the Optionee, the
Optionee shall retain all rights provided by the Award at the time of such Termination of Employment. 

  

	 	(vii)	 Death. If, after the date an Award is granted, an Optionee shall die while in the employ of a Participating Company, or after
Termination of Employment by reason of Retirement, Disability, or Layoff (and prior to the cancellation of the Award), the executor or administrator of the estate of the Optionee or the person or persons to whom the Award shall have been validly
transferred by the executor or the administrator pursuant to will or the laws of descent and distribution shall have the right to exercise the Award to the same extent the Optionee could have, had the Optionee not died. No transfer of an Award by
the Optionee by will or by the laws of descent and distribution shall be effective to bind the Company unless the Company shall have been furnished with written notice thereof and a copy of the will and such other evidence as the Company may deem
necessary to establish the validity of the transfer and the acceptance by the transferee or transferees of the terms and conditions of such Award. 

  

	 	(viii)	 Transfers and Leaves. Transfer of employment between Participating Companies shall not constitute Termination of Employment for the purpose
of any Award granted under the Program. Whether any leave of absence shall constitute Termination of Employment for the purposes of any Award granted under the Program shall be determined in each case in accordance with applicable law and by
application of the policies and procedures adopted by the Company in relation to such leave of absence. 

  

	 	(ix)	 Divestiture, Outsourcing, or Move to Joint Venture. If, after the date the Award is granted, an Optionee ceases to be employed by a
Participating Company as a result of (a) the outsourcing of a function, (b) the sale or transfer of all or a portion of the equity 

  

					
	 Effective 2/18/2014
	  	- 3 -	  	

 Exhibit 10.1 
  

	 	 
interest of such Participating Company (removing it from the controlled group of companies of which the Company is a part), (c) the sale of all or substantially all of the assets of such
Participating Company to another employer outside of the controlled group of corporations (whether the Optionee is offered employment or accepts employment with the other employer), (d) the Termination of the Optionee by Participating Company
followed by employment within a reasonable time with a company or other entity in which the Company owns, directly or indirectly, at least a 50% interest, prior to exercise of an Award, or (e) any other sale of assets determined by the
Authorized Party to be considered a divestiture under this program, the Authorized Party may, in its or his sole discretion, determine that all or a portion of any such Award shall not be canceled. 

 

	 	(x)	 Change of Control. Upon a Change of Control, the following shall apply to any Stock Option (or SAR): 

	 	(1)	 Each Employee shall immediately become fully vested in such Stock Option (or SAR) that is not assumed by, or substituted for, by the an acquirer in
connection with the Change of Control, and such Stock Option or (SAR) shall not thereafter be forfeitable for any reason. 

	 	(2)	 With regard to any other Stock Option (or SAR), each Employee shall become fully vested in such Stock Option (or SAR) upon incurring a Severance
following such Change of Control, and such Stock Option (or SAR) shall not thereafter be forfeitable for any reason. 

	 	(3)	 Any Stock Option (or SAR) granted to the Employee shall be exercisable at the times set forth herein. Each such Stock Option (or SAR) shall remain
outstanding until ten years from the date of grant, notwithstanding any provision of the Award Agreement or the Plan to the contrary. 

  

	 	(c)	 Detrimental Activities and Suspension of Exercises. 

	 	(i)	 If the Authorized Party determines that, subsequent to the grant of any Award but prior to any Change of Control, the Employee has engaged or is
engaging in any activity which, in the sole judgment of the Authorized Party, is or may be detrimental to the Company or a subsidiary, the Authorized Party may suspend the right of the Employee to exercise, refuse to honor the exercise of the
Employee’s Awards already requested, or cancel all or part of the Award granted to the Employee. Upon any Change of Control, the Authorized Party may suspend the right of the Employee to exercise, refuse to honor the exercise of the
Employee’s Awards already requested, or cancel all or part of the Award granted to the Employee only upon a determination by the Authorized Party that the Employee has given the Company Cause for such cancellation. 

 

	 	(ii)	 If the Authorized Party, in its or his sole discretion, determines that the exercise of any Award has the possibility of violating any law,
regulation, or decree pertaining to the Company, any of its subsidiaries, or the Employee, the Authorized Party may freeze or suspend the Employee’s right to exercise until such time as the exercise of the Award would no longer, in the sole
discretion of the Authorized Party, have the possibility of violating such law, regulation, or decree. 

  

	 	(iii)	 Notwithstanding anything herein to the contrary, any Award is subject to forfeiture or recoupment, in whole or in part, under applicable law,
including the Sarbanes-Oxley Act and the Dodd-Frank Act. 

  

					
	 Effective 2/18/2014
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 Exhibit 10.1 
  

	4.	 Exercising the Stock Option. The Company has retained outside firms to administer Stock Options (and SARs) granted under the Plans
(the “third party administrators”). The Option (or SAR) must be exercised in accordance with methods and at times set by the third party administrator and by the Employee’s delivering to the third party administrators such
authorization as may be required. 

  

	5.	 Payment for Shares. The Grant Price for all shares of Stock purchased upon the exercise of a Stock Option, or a portion thereof,
shall be paid in full at the time of such exercise. Such payment may be made in cash or by tendering shares of Stock having a value on the date of exercise equal to the Grant Price. Such value shall be the average of the high and low trading prices
of the stock on the day of exercise. If the Optionee makes payment of the Grant Price by tendering shares of Stock, such Stock must be registered in the sole name of the Optionee on the exercise date or an appropriate Stock Power acceptable to the
Company to transfer such stock to the sole name of the Optionee must be provided at the time of exercise. In the case of an Optionee who makes payment of the Grant Price by tendering shares of Stock, if the Company deems it appropriate, and if
allowed by the applicable laws, regulations, and rulings, the Company may accept an attestation from the Optionee in lieu of actual physical delivery to the Company of the shares to be tendered. The attestation must indicate the number of shares
held, and if deemed necessary by the Company, the certificate numbers if the Stock is held in certificate form, or the broker and brokerage account number if the shares are held in a brokerage account, and any other information necessary to confirm
ownership of the shares. The Company may not accept an attestation in lieu of physical delivery of the shares unless the shares are held in the sole name of the Optionee either in certificate form, or in a single brokerage account, or in such other
form as the Company may deem appropriate. Depending on its source, Stock tendered in the exercise of a Stock Option must have met the appropriate holding period required by current tax, accounting, legal, or other applicable rules and regulations.
At the election of the Optionee (but subject to any administrative limitations on exercise of Stock Options or permissible methods of option exercise imposed), the Stock Option may also be exercised by a “net-share settlement” method for
exercising outstanding nonqualified stock options. The Committee, in its sole discretion and judgment, limit the extent to which shares of Stock may be used in exercising Stock Options or limit the use of any method or time of option exercise.

  

	6.	 Assignment of Option and Exercises After Death. Rights under the Plans and this Agreement cannot be assigned or transferred other
than by (i) will, (ii) beneficiary designation, or (iii) the laws of descent and distribution. In the event that a beneficiary designation conflicts with an assignment by will or under the laws of descent and distribution, the
beneficiary designation will prevail. Upon the death of an Employee, exercise of the grant will be permitted only by the Employee’s designated beneficiary, executor, or personal representative of the Employee’s estate.

  

	7.	 Tax Withholding. In the U.S. and many countries, the difference between the Grant Price and the value of the stock at the time of an
Option exercise multiplied by the number of shares purchased is compensation subject to tax withholding. The Option exercise will not be completed until all federal, state, local, and other governmental withholding tax requirements have been met.
Should a withholding tax obligation arise upon the exercise of a Stock Option, the withholding tax may be satisfied by withholding shares of Stock or by payment of cash. This withholding obligation includes, but is not limited to, federal, state,
and local taxes, including applicable non-U.S. taxes, such as U.K. PAYE. The plan administrator will take such steps, as it deems necessary or desirable for the withholding of any taxes that are required by laws or regulations of any governmental
authority in connection with any exercise. For SARs, the SAR Gain will be paid through the local payroll and is subject to applicable withholding taxes. 

  

					
	 Effective 2/18/2014
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 Exhibit 10.1 
  

	8.	 Shareholder Rights. The Employee shall not have the rights of a shareholder until the Option (or SAR) has been exercised and
ownership of shares of Common Stock has been transferred to the Employee. 

  

	9.	 Certain Adjustments. In the event certain corporate transactions, recapitalizations, or stock splits occur while a Stock Option (or
SAR) is outstanding, the Grant Price and the number of Stock Option Shares (or SARs) shall be correspondingly adjusted. 

  

	10.	 Relationship to the Plan. In addition to the terms and conditions described in this Agreement, Awards are subject to all other
applicable provisions of the Plan. The decisions of the Committee with respect to questions arising as to the interpretation of the Plan or this Agreement or as to findings of fact shall be final, conclusive, and binding. 

 

	11.	 No Employment Guarantee. No provision of this Agreement shall confer any right upon the Employee to continued employment with any
Participating Company. 

  

	12.	 Governing Law. This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of Delaware.

  

	13.	 Amendment. Without the consent of the Employee, this Agreement may be amended or supplemented (i) to cure any ambiguity or to
correct or supplement any provision herein which may be defective or inconsistent with any other provision herein, or (ii) to add to the covenants and agreements of the Company for the benefit of an Employee or to add to the rights of an
Employee or to surrender any right or power reserved to or conferred upon the Company in this Agreement, provided, in each case, that such changes or corrections shall not adversely affect the rights of the Employee with respect to the grant of an
Option (or SAR) evidenced hereby without the Employee’s consent, or (iii) to make such other changes as the Company, upon advice of counsel, determines are necessary or advisable because of the adoption or promulgation of, or change in or
of the interpretation of, any law or governmental rule or regulation, including any applicable federal or state securities or tax laws. 

  

					
	 Effective 2/18/2014
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 Exhibit 10.1 
  

 DEFINITIONS 

Capitalized terms not defined below shall have the meanings set forth in the Plan under which the Award is granted. 

“Authorized Party” means the person who is authorized to approve an Award, exercise discretion or take action under
the Administrative Procedure for the Stock Option (and Stock Appreciation Rights) Program and pursuant to the Program. With regard to Senior Officers, the Committee is the Authorized Party. With regard to other Employees, the Chief Executive
Officer, acting as the Special Equity Award Committee of the Board of Directors of the Company, is the Authorized Party, although the Committee may act concurrently as the Authorized Party. 

“Award” means any Stock Option or SAR granted to an Employee pursuant to such applicable terms, conditions, and
limitations as the Authorized Party may establish in order to fulfill the objectives of the Program. 
 “Cause”
means “Cause” as that term is defined in the Key Employee Change in Control Severance Plan of ConocoPhillips applied as if an Employee were a participant under such plan. 

“Change of Control” has the meaning set forth in Attachment A to these Terms and Conditions. 

“Committee” means the Human Resources and Compensation Committee of the Board of Directors of the Company, or any
successor committee to it. 
 “Common Stock” means common stock, par value $.01 per share, of the Company. 

“Company” means ConocoPhillips a Delaware corporation. 

“Disability” means a disability for which the employee in question has been determined to be entitled to either
(i) benefits under the applicable plan of long-term disability of the Company or its subsidiaries or (ii) disability benefits under the Social Security Act. In the absence of any such determination, the Authorized Party may make a
determination that the employee has a Disability. 
 “Fair Market Value” means, as of a particular date, the mean
between the highest and lowest sales price per share of such Common Stock on the consolidated transaction reporting system for the principal national securities exchange on which shares of Common Stock are listed on that date, or, if there shall
have been no such sale so reported on that date, on the next succeeding date on which such a sale was so reported, or, at the discretion of the Committee, the price prevailing on the exchange at the time of exercise. 

“Good Reason” means “Good Reason” as that term is defined in the Key Employee Change in
Control Severance Plan of ConocoPhillips applied as if an Employee were a participant under such plan. 
 “Grant
Price” means the price at which an Employee may exercise his or her right to receive cash or Common Stock, as applicable, under the terms of an Award. 

“Key Employee Change in Control Severance Plan of ConocoPhillips” means the plan of that name (or a successor plan to
the plan of that name) in effect on an applicable Change of Control. If no plan of that name (or successor plan to the plan of that name) is in effect on an applicable Change of Control, it shall mean instead the plan of that name in effect on the
date of the Award. 

  

					
	 Effective 2/18/2014
	  	- 7 -	  	

 Exhibit 10.1 
  

 “Layoff” means an applicable Termination of Employment
due to layoff under the ConocoPhillips Severance Pay Plan, the ConocoPhillips Executive Severance Plan, or the ConocoPhillips Key Employee Change in Control Severance Plan, or layoff or redundancy under any similar layoff or redundancy plan which
the Company or its subsidiaries may adopt from time to time. If all or any portion of the benefits under the redundancy or layoff plan are contingent on the employee’s signing a general release of liability, such Termination shall not be
considered as a “Layoff” for purposes of this Award unless the employee executes and does not revoke a general release of liability, acceptable to the Company, under the terms of such layoff or redundancy plan. 

“Nonqualified Stock Option” means a Stock Option that is not an Incentive Stock Option. 

“Optionee” means an individual holding a Stock Option or SAR. 

“Option Shares” means the shares of Common Stock issuable upon exercise of a Stock Option covered by this Agreement.

 “Participating Company” includes ConocoPhillips and its 100% owned subsidiaries, including both those directly
owned and those owned through subsidiaries, whose participation has been approved by the Authorized Party. 

“Retirement” means Termination at age 55 or older with a minimum of 5 years service with a Participating Company;
provided, however, that with regard to an Employee not on the United States payroll, the CEO may approve the use of a different definition. Service is defined by the policies of the Participating Company. 

“Senior Officer” means the Chairman of the Board, the CEO, all other executive officers of the Company (determined in
accordance with the Company’s custom and practice pursuant to section 16(b) of the Securities Exchange Act of 1934, as amended), all other employees of the Company who report directly to the CEO and whose salary grade is 23 or higher, and all
other employees of the Company whose salary grade is 26 or higher. 
 “Severance” means
“Severance” as that term is defined in the Key Employee Change in Control Severance Plan of ConocoPhillips applied as if an Employee were a participant under such plan, and shall also incorporate the meaning of the terms “Cause”
and “Good Reason” contained in the definition of “Severance” in such plan. 

“Stock” means shares of common stock of the Company, par value $.01. 

“Stock Appreciation Right” or “SAR” means a right to receive a payment, in cash equal to the
excess of the Fair Market Value or other specified valuation of a specified number of shares of Common Stock on the date the right is exercised over a specified Grant Price, in each case, as determined by the Authorized Party. 

“Stock Option” means the right to purchase a specified number of shares of Common Stock at a specified Grant Price
pursuant to such applicable terms, conditions, and limitations established by the Authorized Party. 
 “SAR Gain”
means the difference between the Grant Price and the Fair Market Value (or other specified valuation) of a share of Common Stock at the time of an SAR exercise, multiplied by the number of shares that are exercised. 

  

					
	 Effective 2/18/2014
	  	- 8 -	  	

 Exhibit 10.1 
  

 “Termination” or “Termination of Employment”
means cessation of employment with the Participating Companies, determined in accordance with the policies and practices of the Participating Company for whom the Employee was last performing services. 

  

					
	 Effective 2/18/2014
	  	- 9 -	  	

 Exhibit 10.1 
  

 Attachment “A” 

“Change of Control” 

The following definitions apply to the Change of Control provision in Section 10 of the Plan. 

“Affiliate” shall have the meaning ascribed to such term in Rule 12b-2
of the General Rules and Regulations under the Exchange Act, as in effect at the time of determination. 

“Associate” shall mean, with reference to any Person, (a) any corporation, firm, partnership, association,
unincorporated organization or other entity (other than the Company or a subsidiary of the Company) of which such Person is an officer or general partner (or officer or general partner of a general partner) or is, directly or indirectly, the
Beneficial Owner of 10% or more of any class of equity securities, (b) any trust or other estate in which such Person has a substantial beneficial interest or as to which such Person serves as trustee or in a similar fiduciary capacity and
(c) any relative or spouse of such Person, or any relative of such spouse, who has the same home as such Person. 

“Beneficial Owner” shall mean, with reference to any securities, any Person if: 

(a) such Person or any of such Person’s Affiliates and Associates, directly or indirectly, is the
“beneficial owner” of (as determined pursuant to Rule 13d-3 of the General Rules and Regulations under the Exchange Act, as in effect at the time of determination) such securities or otherwise
has the right to vote or dispose of such securities; 
 (b) such Person or any of such Person’s
Affiliates and Associates, directly or indirectly, has the right or obligation to acquire such securities (whether such right or obligation is exercisable or effective immediately or only after the passage of time or the occurrence of an event)
pursuant to any agreement, arrangement or understanding (whether or not in writing) or upon the exercise of conversion rights, exchange rights, other rights, warrants or options, or otherwise; provided, however, that a Person shall not be deemed the
Beneficial Owner of, or to “beneficially own,” (i) securities tendered pursuant to a tender or exchange offer made by such Person or any of such Person’s Affiliates or Associates until such tendered securities are accepted for
purchase or exchange or (ii) securities issuable upon exercise of Exempt Rights; or 
 (c) such Person
or any of such Person’s Affiliates or Associates (i) has any agreement, arrangement or understanding (whether or not in writing) with any other Person (or any Affiliate or Associate thereof) that beneficially owns such securities for the
purpose of acquiring, holding, voting (except as set forth in the proviso to subsection (a) of this definition) or disposing of such securities or (ii) is a member of a group (as that term is used in
Rule 13d-5(b) of the General Rules and Regulations under the Exchange Act) that includes any other Person that beneficially owns such securities; 

provided, however, that nothing in this definition shall cause a Person engaged in business as an underwriter of securities to be the Beneficial Owner of, or
to “beneficially own,” any securities acquired through such Person’s participation in good faith in a firm commitment underwriting until the expiration of 40 days after the date of such acquisition. For purposes hereof,
“voting” a security shall include voting, granting a proxy, consenting or making a request or demand relating to corporate action (including, without limitation, a demand for a shareholder list, to call a shareholder meeting or to inspect
corporate books and records) or otherwise giving an authorization (within the meaning of section 14(a) of the Exchange Act) in respect of such security. 

  

					
	 Effective 2/18/2014
	  	- 10 -	  	

 Exhibit 10.1 
  

 The terms “beneficially own” and “beneficially owning”
shall have meanings that are correlative to this definition of the term “Beneficial Owner.” 
 “Board”
shall have the meaning set forth in the Plan. 
 “Change of Control” shall mean any of the following occurring on
or after January 1, 2014: 
 (a) any Person (other than an Exempt Person) shall become the Beneficial
Owner of 20% or more of the shares of Common Stock then outstanding or 20% or more of the combined voting power of the Voting Stock of the Company then outstanding; provided, however, that no Change of Control shall be deemed to occur for purposes
of this subsection (a) if such Person shall become a Beneficial Owner of 20% or more of the shares of Common Stock then outstanding or 20% or more of the combined voting power of the Voting Stock of the Company then outstanding solely as a
result of (i) any acquisition directly from the Company or (ii) any acquisition by a Person pursuant to a transaction that complies with clauses (i), (ii), and (iii) of subsection (c) of this definition; 

(b) individuals who, as of January 1, 2014, constitute the Board (the “Incumbent Board”) cease
for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to January 1, 2014 whose election, or nomination for election by the Company’s shareholders, was approved
by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board; provided, further, that there shall be excluded, for this purpose, any such
individual whose initial assumption of office occurs as a result of any actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a
Person other than the Board; 
 (c) the Company shall consummate a reorganization, merger, statutory share
exchange, consolidation, or similar transaction involving the Company or any of its subsidiaries or sale or other disposition of all or substantially all of the assets of the Company, or the acquisition of assets or securities of another entity by
the Company or any of its subsidiaries (a “Business Combination”), in each case, unless, following such Business Combination, (i) 50% or more of the then outstanding shares of common stock of the corporation, or common equity
securities of an entity other than a corporation, resulting from such Business Combination and the combined voting power of the then outstanding Voting Stock of such corporation or other entity are beneficially owned, directly or indirectly, by all
or substantially all of the Persons who were the Beneficial Owners of the outstanding Common Stock immediately prior to such Business Combination in substantially the same proportions as their ownership, immediately prior to such Business
Combination, of the outstanding Common Stock, (ii) no Person (excluding any Exempt Person or any Person beneficially owning, immediately prior to such Business Combination, directly or indirectly, 20% or more of the Common Stock then
outstanding or 20% or more of the combined voting power of the Voting Stock of the Company then outstanding) beneficially owns, directly or indirectly, 20% or more of the then outstanding shares of common stock of the corporation, or common equity
securities of an entity other than a corporation, resulting from such Business Combination or the combined voting power of the then outstanding Voting Stock of such corporation or other entity, and (iii) at least a majority of the members of
the board of directors of the corporation, or the body which is most analogous to the board of directors of a corporation if not a corporation, resulting from such Business Combination were members of the Incumbent Board at the time of the initial
agreement or initial action by the Board providing for such Business Combination; or 

  

					
	 Effective 2/18/2014
	  	- 11 -	  	

 Exhibit 10.1 
  

 (d) the shareholders of the Company shall approve a complete
liquidation or dissolution of the Company unless such liquidation or dissolution is approved as part of a transaction that complies with clauses (i), (ii), and (iii) of subsection (c) of this definition. 

“Common Stock” shall have the meaning set forth in the Plan. 

“Company” shall have the meaning set forth in the Plan. 

“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 

“Exempt Person” shall mean any of the Company, any entity controlled by the Company, any employee benefit plan (or
related trust) sponsored or maintained by the Company or any entity controlled by the Company, and any Person organized, appointed, or established by the Company for or pursuant to the terms of any such employee benefit plan. 

“Exempt Rights” shall mean any rights to purchase shares of Common Stock or other Voting Stock of the Company if at
the time of the issuance thereof such rights are not separable from such Common Stock or other Voting Stock (i.e., are not transferable otherwise than in connection with a transfer of the underlying Common Stock or other Voting Stock), except
upon the occurrence of a contingency, whether such rights exist as of January 1, 2014 or are thereafter issued by the Company as a dividend on shares of Common Stock or other Voting Securities or otherwise. 

“Person” shall mean any individual, firm, corporation, partnership, association, trust, unincorporated
organization, or other entity. 
 “Voting Stock” shall mean, (1) with respect to a corporation, all
securities of such corporation of any class or series that are entitled to vote generally in the election of, or to appoint by contract, directors of such corporation (excluding any class or series that would be entitled so to vote by reason of the
occurrence of any contingency, so long as such contingency has not occurred) and (ii) with respect to an entity which is not a corporation, all securities of any class or series that are entitled to vote generally in the election of, or to
appoint by contract, members of the body which is most analogous to the board of directors of a corporation. 

  

					
	 Effective 2/18/2014
	  	- 12 -

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