Document:

EX-10.41

 Exhibit 10.41 

APACHE CORPORATION 

2016 EMPLOYEE RELEASE AND SETTLEMENT AGREEMENT 

The parties to this Agreement are APACHE CORPORATION (“Apache”) and Thomas E. Voytovich (“Employee”). 

This document describes the agreements of Apache and Employee concerning the termination of Employee’s employment with Apache. This
Agreement and the severance pay and other benefits described below give valuable consideration to both Apache and Employee. 
 Termination of
Employment Relationship: Apache and Employee have agreed that Employee’s employment relationship with Apache will terminate on November 30, 2015 (the “Termination Date”). Apache and Employee both agree that
Employee will “separate from service” (for purposes of section 409A of the Internal Revenue Code of 1986, as amended (the “Code”)) on November 30, 2015. 

Termination Pay: Apache will pay Employee the following as soon as reasonably practical following the Termination Date: 

 

	 	•	 	Employee’s regular pay through the Termination Date. 

 Such amounts shall be subject to all lawful
deductions and withholding for taxes. 
 Severance Pay: Subject to this Agreement becoming effective and Employee confirming to Apache in
writing that he has not exercised his right to revoke this Agreement during the 7 days after signing it, Apache will pay Employee a lump sum amount of $1,933,333 of Severance Pay. 

The Severance Pay has been subject to arms’ length negotiations between the parties and thus is not deferred compensation subject to Code section 409A.
The Severance Pay will be subject to all lawful deductions and withholding for taxes and will be paid as soon as administratively practical after Employee confirms that this Agreement has become effective, that Employee did not revoke this Agreement
within 7 days after signing it, and that the time for revocation has passed. 
 Additional Severance Benefits: Subject to this Agreement
becoming effective and subject to any delay in payment required by Code section 409A, Apache will provide Employee with the following additional Severance Benefits: 
  

	 	•	 	Prorated vesting of outstanding unvested restricted stock units and stock options, conditioned upon Employee’s compliance with his obligations under this Agreement. Prorated Vesting of outstanding unvested
restricted stock units shall mean the number of shares as reflected in the column “Prorated Award Based on Days” under the heading “Restricted Stock Unit Grants (RSUs)” as provided in the attached Exhibit A. Prorated Vesting of
outstanding unvested stock options shall mean the number of shares as reflected in the column “Prorated Award Based on Days” under the heading “Non-Qualified Stock Option Grants (SOs)” as provided in the attached Exhibit A.
Distribution of restricted stock units will occur as soon as permissible under Code section 409A. 

  
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	 	•	 	Extended exercise period for vested stock options, including the prorated portion, to full term (10 year anniversary of the grant date). 

 

	 	•	 	In accordance with their terms, any outstanding TSR will be immediately void and forfeited as of the effective date of this Agreement. However, in the event that the TSR performance goals related to such grants are
achieved at the conclusion of each respective performance period, then Employee shall receive prorated vesting of TSR performance awards, based on time in performance period, conditioned upon Employee’s compliance with his obligations under
this Agreement. Prorated Vesting of TSR performance awards shall mean the number of shares reflected in the column “Prorated Award Based on Days” under the heading “Performance Shares” as provided in the attached Exhibit A.
Results of the TSR program will be calculated at the end of the performance period and, if a payout is warranted, awards will be paid in cash according to the performance program’s vesting schedule. In the event that the TSR performance goals
related to such grants are achieved at the conclusion of each respective performance period, then as soon as practicable following the first business day following the applicable vesting dates set forth below, provided that Employee is then in
compliance with the provisions of this Agreement, Apache will pay Employee a cash amount equal to the fair market value of a share of common stock of Apache (determined at the close of the third trading day preceding the payment date) multiplied by
the number of prorated units indicated below. Because FICA taxation will occur when the performance goal is met, and Employee will not be receiving payment at that time, Employee’s share of FICA taxes will be paid by reducing the cash amount
payable to Employee. 

  

							
	 	 	 Condition Precedent
	 	 Vesting

Date
	  	 Number of Prorated Units

		 	2013 TSR Goal Achieved	 	12/31/15	  	50% of (i) multiple of Target Amount achieved under 2013 TSR Plan times (ii) 9,776
				
		 	2013 TSR Goal Achieved	 	12/31/16	  	25% of (i) multiple of Target Amount achieved under 2013 TSR Plan times (ii) 9,776
				
		 	2013 TSR Goal Achieved	 	12/31/17	  	25% of (i) multiple of Target Amount achieved under 2013 TSR Plan times (ii) 9,776
				
		 	2014 TSR Goal Achieved	 	12/31/16	  	50% of (i) multiple of Target Amount achieved under 2014 TSR Plan times (ii) 6,216
				
		 	2014 TSR Goal Achieved	 	12/31/17	  	50% of (i) multiple of Target Amount achieved under 2014 TSR Plan times (ii) 6,216

  
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	 	•	 	Accelerated vesting of the 6,000 outstanding restricted stock units granted on May 22, 2012 and 16,800 outstanding restricted stock units granted on November 11, 2013 in accordance with your grant agreements.
The restricted stock units will be settled as soon as administratively possible following the date of termination. 

  

	 	•	 	Awards made under the 2014 Business Performance Share Program will vest according to the schedule specified in the grant agreement. 

  

	 	•	 	Provide COBRA subsidy for dental and vision plans at active rates for the first 12 months following the Termination Date. The former Employee is required to file the application in accordance with COBRA guidelines.
Subsequently, you may continue coverage under COBRA by paying the monthly premiums. 

  

	 	•	 	Being that the Employee is age 55 or older with at least 5 years of service on the Termination Date, the Employee can elect coverage under the Retiree Medical Plan. The first 12 months of coverage will be provided at
active employee rates. Thereafter, the Employee’s rate will be based on the Retiree Medical Plan’s regular age + service premium table, calculated with three additional years of service credit. 

 

	 	•	 	Outplacement assistance as arranged by Apache. 

 Employee Acknowledgement: Employee acknowledges
that the Severance Pay and Severance Benefits are consideration over and above that to which Employee otherwise would be entitled upon termination of employment, and are paid in consideration for this Agreement. 

Resignations, Amendments, and Further Assurances: Employee agrees to resign from all positions he holds with Apache and its affiliates forthwith
and to sign all documents necessary to effectuate his resignations. Employee agrees to sign and deliver such other documents that are necessary and appropriate to effectuate the purposes of this Agreement including, but not limited to, amendments to
equity grant agreements. 
 Release by Employee: In consideration of receipt of the Severance Pay and Severance Benefits, Employee hereby
releases and waives, on behalf of himself, his heirs, estate, beneficiaries and assigns, all claims of any kind or character for loss, damage or injury arising from, based upon, connected in any way with, or relating to the following
(“Claims”): 
  

	 	•	 	the employment of Employee by Apache, including the termination of Employee’s employment; 

  

	 	•	 	employment discrimination in violation of the Age Discrimination in Employment Act; 

  
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	 	•	 	employment discrimination in violation of Title VII of the Civil Rights Act of 1964; 

  

	 	•	 	any violations of federal, state or local statutes, ordinances, regulations, rules, decisions or laws; 

  

	 	•	 	retaliation under the whistleblower provisions of Section 806 of the Sarbanes Oxley Act of 2002 or any other anti-retaliation law; 

 

	 	•	 	failure to act in good faith and deal fairly; 

  

	 	•	 	injuries, illness or disabilities of Employee; 

  

	 	•	 	exposure of Employee to toxic or hazardous materials; 

  

	 	•	 	stress, anxiety or mental anguish; 

  

	 	•	 	discrimination on the basis of sex, race, religion, national origin or another basis; 

  

	 	•	 	sexual harassment; 

  

	 	•	 	defamation based on statements of Apache or others; 

  

	 	•	 	breach of an express or implied employment contract; 

  

	 	•	 	compensation or reimbursement of Employee; 

  

	 	•	 	unfair employment practices; and 

  

	 	•	 	any act or omission by or on behalf of Apache. 

 Claims Included: The Claims released and waived
by Employee are those arising before the effective date of this Agreement, whether known, suspected, unknown or unsuspected, and include, without limitation: 
  

	 	•	 	those for reinstatement; 

  

	 	•	 	those for actual, consequential, punitive or special damages; 

  

	 	•	 	those for attorney’s fees, costs, experts’ fees and other expenses of investigating, litigating or settling Claims; and 

  

	 	•	 	those against Apache and/or Apache’s present, former and future subsidiaries, affiliates, employees, officers, directors, agents, contractors, benefit plans, shareholders, advisors, insurance carriers, and legal
representatives (together with Apache the “Released Parties”). Apache and/or Apache’s present, former and future subsidiaries, affiliates, employees, officers, directors, agents, and benefit plans are herein referred to as the
“Apache Parties” and each of them as an “Apache Party.” 

 Claims Excluded: Employee does not release or
waive (1) any rights that may not by law be waived, (2) vested benefits, if any, to which Employee may be entitled pursuant to the terms of Apache’s benefits plans, including Employee’s right to any benefits under health, life or
disability policies covering Employee and Employee’s right to all vested incentive compensation and the continued vesting thereof as described in this Agreement (for the avoidance of doubt, 

  
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Employee is, however, releasing and waiving any claim that he is subject to or covered by any Change of Control provisions), or (3) the right to recovery for breach of this Agreement by
Apache, (4) Employee’s right to indemnity, contribution and a defense under any agreement, statute, by-law or company agreement or other corporate governance document (which Apache agrees will continue beyond the Termination Date, to the
same extent as though Employee were still an executive officer of Apache), (5) Employee’s right to continuing coverage under all Apache directors’ and officers’, fiduciary, errors and omissions and general liability and umbrella
insurance policies, (6) payment to Employee of any unpaid business or business travel expense payable under the Company’s usual practices, (7) distribution to Employee, as soon as practical after the effective date of this Agreement
and consistent with the requirements of Code section 409A, applicable deferral agreements and governing terms of any Plan, previously vested but withheld shares of restricted stock, (8) Employee’s rights as an option holder, as a holder of
restricted stock and as a shareholder; (9) any deferred compensation including Employee’s right to any payment or compensation that may be deferred because of compliance with Code section 409A; and (10) Employee’s rights as a
retiree of Apache. 
 Agreement Not To Sue: Employee will not sue any Released Party for any released Claim. Excluded from this Agreement not
to sue is Employee’s right to file a charge with an administrative agency or participate in an agency investigation. Employee is, however, waiving the right to receive money in connection with such charge or investigation. Employee is also
waiving the right to recover money in connection with a charge filed by any other individual or by the Equal Employment Opportunity Commission or any other federal or state agency. 

Future Employment: The Apache Parties will not have any obligation to consider or accept any future employment or reinstatement application from
Employee. 
 No Admission: Neither Apache nor Employee alleges or admits any wrongdoing or liability. Apache and Employee have executed this
Agreement solely to avoid the expense of potential litigation. The additional Severance Pay and additional Severance Benefits described above fully compromise and settle any and all Claims of Employee. 

Confidentiality: Employee and Apache will keep this Agreement strictly confidential, except that Employee may disclose this Agreement to his
spouse, attorneys, bona fide prospective employers, financial and tax advisors and will cause Employee’s spouse, attorneys, bona fide prospective employers, financial and tax advisors to do likewise, and Apache may disclose this Agreement to
its officials who need to see this Agreement and shall cause them to keep this Agreement strictly confidential, except, as to both parties, to the extent disclosure is necessary for tax, securities law and regulations, stock exchange rules,
financial advice, tax advice and filings or other legal requirements. 
 Confidences: Employee will maintain the confidentiality of all Apache
Party trade secrets, proprietary information, insider information, security procedures and other confidences that came into Employee’s possession or knowledge during employment by Apache. Employee will not use information concerning a Apache
Party’s business prospects or practices to profit Employee or others. The parties understand Employee may elect to continue his professional activities and/or employment in the oil and gas exploration and development industry subsequent to the
Termination Date. Accordingly, nothing in this Agreement shall prevent Employee from 

  
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utilizing general knowledge, skills and experience he acquired during his employment with Apache. Further, nothing in this Agreement shall prevent Employee from using any public information that
is generally known or reasonably accessible or available to him. 
 Property: Employee represents that Employee possesses no property of a
Apache Party. If any Apache Party property comes into Employee’s possession before departure from Apache premises, or if the date of Employee’s termination is in the future, Employee will return the Apache Party property to Apache prior to
departure from the Apache premises and without request or demand by Apache. 
 References: Apache may respond to inquiries from third parties
about Employee’s employment with Apache by identifying only Employee’s date of hire, date of termination and position held at the time of termination of employment. Apache will have no obligation to provide further information to
prospective employers of Employee. 
 Non-disparagement: Employee shall refrain from publishing any oral or written statements about the
Company, any Apache Entity and/or any of the Apache Parties that are disparaging, slanderous, libelous, or defamatory; or that disclose private or confidential information about their business affairs; or that constitute an intrusion into their
seclusion or private lives; or that give rise to unreasonable publicity about their private lives; or that place them in a false light before the public; or that constitute a misappropriation of their name or likeness. Likewise, the Apache Parties
shall refrain from publishing any oral or written statements about Employee that are disparaging, slanderous, libelous, or defamatory; or that disclose private or confidential information about his business affairs; or that constitute an intrusion
into seclusion or private life; or that give rise to unreasonable publicity about his private life; or that places him in a false light before the public; or that constitute a misappropriation of his name or likeness. 

Assistance in Legal Actions: Employee agrees that, upon request by Apache, Employee will assist Apache in the preparation, prosecution or
defense of any claims or potential claims that may be made or threatened to be made against Apache and/or any member of the Apache Parties in any action, suit, or proceeding, whether civil, criminal, administrative, investigative or otherwise with
respect to an event or occurrence during Employee’s term of employment (a “Proceeding’), and will assist Apache in the prosecution of any claims that may be made by Apache and/or any member of Apache Parties in any Proceeding. Such
assistance will include, without limitation, executing truthful declarations or providing information in his possession or recollection requested by Apache and attending and/or testifying truthfully at deposition or at trial without the necessity of
a subpoena or compensation. Employee also agrees, unless precluded by law, to promptly inform Apache if Employee is asked to assist in any investigation (whether governmental or otherwise) of Apache and/or any member of Apache Parties regardless of
whether a lawsuit has been filed against Apache and/or any members of Apache Parties with respect to such investigation. Employee agrees to fully and completely cooperate with any investigations conducted by or on behalf of Apache and any member of
Apache Parties. Apache agrees to reimburse Employee for all reasonable out-of-pocket expenses associated with such assistance, including travel expenses, and agrees to indemnify Employee for all costs and liabilities (including without limitation,
legal fees) the same as though Employee were still an executive officer of Apache to the fullest extent permitted by Delaware law for such an executive officer. Notwithstanding anything to the contrary in this paragraph, Employee’s obligations

  
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under this paragraph shall expire on the fifth anniversary of the Termination Date, shall be scheduled so as to not unreasonably conflict with Employee’s then-current employment, and shall
not exceed 10 hours per case per year of court time or preparation time with lawyers, without Employee’s consent. 
 Covenants of
Employee: Because of the confidential information shared with Employee and in exchange for the Severance Pay and Severance Benefits described herein, Employee agrees (a) for a period of five years after the Termination Date, not to top
lease acreage leased by Apache or its subsidiaries and not to assist any third party in doing so and (b) for a period of three years after the Termination Date, not to work for any company exploring for, or producing, oil, natural gas liquids,
and/or natural gas (collectively, “Oil and Gas Operations”) in competition with Apache or its subsidiaries on the Termination Date in the following counties: 

Andrews, Ector, Crane, Hemphill, Yoakum, and Winkler Counties, Texas; 

Lea and Eddy Counties, New Mexico; and 

Canadian, Grady and Roger Mills Counties, Oklahoma. 

Notwithstanding the foregoing, Employee may at any time work for Sheridan Production Company, LLC (“Sheridan”) and, while Employee is employed by
Sheridan, Employee shall not be restricted by clause (b) above from (i) assisting Sheridan or affiliates of which it is the general partner or for which it is the operator (“Sheridan Group”) in the acquisition of
(x) additional working interests or mineral interests in properties owned by Sheridan Group as of the Termination Date (“Existing Sheridan Properties”) or (y) packages of mature, producing oil and gas properties containing no
more than de minimis undeveloped acreage (collectively, “Permitted Acquisitions”); or (ii) assisting Sheridan Group in conducting Oil and Gas Operations on Existing Sheridan Properties or on Permitted Acquisitions.  

Until the expiration of three years from the date hereof, Employee shall not, without the prior written consent or invitation of the Board of Directors of
Apache, directly or indirectly, undertake to, or assist any third party in an effort to, (a) effect or seek, offer or propose (whether publicly or otherwise) to effect, or cause or participate in or in any way assist any other person to effect
or seek, offer or propose (whether publicly or otherwise) to effect or participate in, (i) any acquisition of any securities or rights to acquire any securities (or any other beneficial ownership thereof) or assets of Apache or any of its
subsidiaries (provided that the foregoing shall not apply to any acquisition by any of the Employee’s employer sponsored benefit plans in the ordinary course of business or to the acquisition of publicly traded securities of any class of Apache
representing less than 5% of such class outstanding); (ii) any merger or other business combination or tender or exchange offer involving Apache or any of its subsidiaries; (iii) any recapitalization, restructuring, liquidation,
dissolution or other extraordinary transaction with respect to Apache or any of its subsidiaries; or (iv) any “solicitation” of “proxies” (as such terms are used in the proxy rules of the Securities and Exchange Commission)
or consents to vote or otherwise with respect to any voting securities of Apache, or make any communication exempted from the definition of “solicitation” by Rule 14a-1(1)(2)(iv) under the Securities Exchange Act of 1934: (b) form,
join or in any way participate in a “group” (as defined under the Securities 

  
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Exchange Act of 1934) with respect to Apache; (c) otherwise act, alone or in concert with others, to seek to control or influence the management, Board of Directors or polices of Apache;
(d) have any discussions or enter into any arrangements, understandings or agreements (oral or written) with, or advise, finance, assist or encourage, any third party with respect to any of the matters set forth in this paragraph, or make any
investment in any other person that engages, or offers or proposes to engage, in any of such matters (it being understood that, without limiting the generality of the foregoing, Employee shall not be permitted to act as a joint bidder with any other
person with respect to Apache); (e) send any letter or document to an Apache Party or other person which might cause or require Apache or the Employee to make a public announcement regarding any of the types of matters set forth in this
paragraph; or (f) disclose any intention, plan or arrangement inconsistent with this paragraph. The Employee agrees during such period not to request Apache (or its representatives or other officers, directors or employees), directly or
indirectly, to amend or waive any provision of this paragraph (including this sentence). 
 Non-solicitation: Because of the confidential
information shared with Employee and in exchange for the payments described herein, for a period of three years following the Termination Date, Employee agrees not to directly or indirectly solicit any employee of Apache for employment elsewhere
(i.e., employment with any person or entity other than Apache). Employee further agrees not to directly or indirectly solicit for employment elsewhere any employee of a third party entity to which Apache has a non-solicitation obligation in
existence on the Termination Date. 
 Other Agreements: This is the entire agreement concerning the termination of Employee’s employment
with Apache. Employee is not entitled to rely upon any other written or oral offer or agreement from Apache or any other person. 
 Amendment:
This Agreement can be modified only by a document signed by both parties. 
 Successors: This Agreement benefits and binds the parties’
successors, including Employee’s estates and heirs. 
 Texas Law: This Agreement will be interpreted in accordance with the laws of the
State of Texas. 
 Jurisdiction. Any legal proceeding arising as a result of, based upon, or relating to this Agreement, Employee’s
employment or termination thereof shall be filed in and heard exclusively in Houston, Texas without regard to conflicts of law and Employee hereby irrevocably consents to the jurisdiction of such courts. 

Enforceability: If any portion of this Agreement is unenforceable, the remaining portions of the agreement will remain enforceable and the
unenforceable provisions, if any, shall be read down and modified to the maximum term that is enforceable under applicable law. 
 Fees and
Costs: Regardless of any law to the contrary, if litigation is commenced concerning Employee’s employment, termination of employment or this Agreement, parties shall bear their own attorneys’ fees and expenses, court costs,
experts’ fees and expenses, and all other expenses of litigation. 

  
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 409A Compliance: The benefits provided under this Agreement are intended to comply with, or be
exempted from, the applicable requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the rules and regulations issued thereunder and shall be administered accordingly. This Agreement may be
amended without the consent of the Employee in any respect deemed by Apache to be necessary in order to preserve compliance with, or exemption from, Code section 409A. 

Assignment: Employee may not assign this Agreement without Apache’s express written consent. 

EMPLOYEE UNDERSTANDS THAT THIS AGREEMENT IS A FINAL AND BINDING WAIVER OF ANY AND ALL CLAIMS OF EMPLOYEE AGAINST THE RELEASED PARTIES, INCLUDING CLAIMS FOR
AGE DISCRIMINATION UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT AND CLAIMS FOR SEX, RACE OR OTHER DISCRIMINATION UNDER TITLE VII OF THE CIVIL RIGHTS ACT OF 1964. 

THE ONLY PROMISES MADE TO CAUSE EMPLOYEE TO SIGN THIS AGREEMENT ARE THOSE STATED IN THIS AGREEMENT. 

EMPLOYEE ACKNOWLEDGES THAT EMPLOYEE HAS BEEN INFORMED BY APACHE TO CONSULT WITH HIS/HER OWN ATTORNEY PRIOR TO SIGNING THIS AGREEMENT. 

EMPLOYEE REPRESENTS THAT THIS AGREEMENT HAS BEEN FULLY EXPLAINED BY EMPLOYEE’S ATTORNEY OR THAT EMPLOYEE HAS WAIVED CONSULTATION WITH AN ATTORNEY,
CONTRARY TO APACHE’S RECOMMENDATION. 
 EMPLOYEE HAS BEEN ADVISED AND UNDERSTANDS THAT THE OFFER OF SEVERANCE PAY AND SEVERANCE BENEFITS
CONTAINED IN THIS AGREEMENT SHALL REMAIN OPEN ONLY UNTIL JANUARY 27, 2016. IF EMPLOYEE HAS NOT FULLY EXECUTED AND RETURNED THIS AGREEMENT BY THAT DATE, THE OFFER HEREIN OF SEVERANCE PAY AND SEVERANCE BENEFITS IS AUTOMATICALLY WITHDRAWN
WITHOUT FURTHER ACTION BY APACHE EFFECTIVE AS OF SUCH DATE. 
 EMPLOYEE ACKNOWLEDGES THAT EMPLOYEE HAS THE RIGHT TO REVOKE THIS AGREEMENT FOR 7 DAYS
AFTER SIGNING IT. THIS AGREEMENT WILL NOT BE EFFECTIVE UNTIL THAT TIME FOR REVOCATION HAS PASSED. 

  
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 EMPLOYEE REPRESENTS THAT HE/SHE HAS CAREFULLY READ AND FULLY UNDERSTANDS THIS AGREEMENT AND THAT HE/SHE HAS
ENTERED INTO AND EXECUTED THIS AGREEMENT KNOWINGLY AND WITHOUT DURESS OR COERCION FROM APACHE OR ANY OTHER PERSON OR SOURCE. 
  

									
	EMPLOYEE	 		 		 		 	APACHE CORPORATION        
					
	 /s/ Thomas E. Voytovich
	 	  
	 		 	  
	 	 /s/ Margery M. Harris

	Thomas E. Voytovich	 		 		 		 	 Margery M. Harris

Executive Vice President, Human Resources

  

			
	 STATE OF TEXAS
	 	§
		
		 	§
		
	 COUNTY OF HARRIS
	 	§

 The foregoing Employee Release and Settlement Agreement was acknowledged before me this 5 day of January,
2016, by Thomas E. Voytovich. 
  

	
	 /s/ Cynthia E. Smith

	NOTARY PUBLIC

 My commission expires: 

SEAL Cynthia E. Smith 
 Notary Public, State of Texas 

My Commission Expires 
 July 07, 2017 

  
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	 STATE OF TEXAS
	 	§
		
		 	§
		
	 COUNTY OF HARRIS
	 	§

 The foregoing Employee Release and Settlement Agreement was acknowledged before me this 5 day of January,
2016, by Margery M. Harris, Executive Vice President, Human Resources of Apache Corporation. 
  

	
	 /s/ Cynthia E. Smith

	NOTARY PUBLIC

 My commission expires: 

SEAL Cynthia E. Smith 
 Notary Public, State of Texas 

My Commission Expires 
 July 07, 2017 

  
 -11-EX-10.59

 Exhibit 10.59 

SCHEDULE A 
 Apache
Corporation 
 2016 Performance Share Program 

AWARD NOTICE 
  

	 Recipient Name:  
	[Name] 

  

	 Company:  
	Apache Corporation 

  

	 Notice:  
	A summary of the terms of Conditional Grants of Restricted Stock Units (“RSUs”) under the 2016 Performance Share Program is set out in this notice (the “Award Notice”) but subject always to the terms of the Apache Corporation
2011 Omnibus Equity Compensation Plan (the “Plan”) and the 2016 Performance Share Program Agreement (the “Agreement”). In the event of any inconsistency between the terms of this Award Notice, the terms of the Plan and the
Agreement, the terms of the Plan and the Agreement shall prevail. 

  

	 	Selected Eligible Persons have been awarded a conditional grant of Apache Corporation RSUs in accordance with the terms of the Plan and the Agreement. 

 

	 	Details of the RSUs which you are conditionally entitled to receive is provided to you in this Award Notice and maintained on your account at netbenefits.fidelity.com 

 

	 Type of Award:  
	A conditional award of RSUs based on a target percentage of annual base salary determined at the beginning of the Performance Period derived from job level (the “Conditional Grant”). 

 

	 Restricted Stock Unit:  
	A Restricted Stock Unit (“RSU”) as defined in the Plan and meaning the right granted to the Recipient of the Conditional Grant, as adjusted at the end of the Performance Period, to receive one share of Stock for each Restricted Stock
Unit at the end of the specified Vesting Period. 

  

	 Stock:  
	The $0.625 par value common stock of the Company or as otherwise defined in the Plan. 

  

	 Grant:  
	A Conditional Grant related to              Restricted Stock Units (“Target Amount”) 

 

	 Grant Date:  
	January 7, 2016 

  
 1 

	 Conditions:  
	Subject always to the terms of the Plan and the Agreement, the Conditional Grant of RSUs shall be made as of the Grant Date. At the end of the Performance Period, the Committee shall derive and confirm the number of Conditional Grant RSUs that
will actually be awarded as RSUs to the Recipient based upon measurement of the specific performance goals, applicable performance percentage levels and applicable weighting percentages during the Performance Period as set forth in Schedule B to the
Agreement, provided that the Recipient remains an Eligible Person and employed by the Company or its Affiliate as of the final day of the Performance Period. Once granted at the conclusion of the Performance Period, such RSUs shall remain subject to
a vesting schedule (as set forth below) (the “Vesting Period”). Once vested, the Recipient shall be paid the value of his or her RSUs in shares of Stock (net of shares withheld for applicable tax withholdings) provided that the Recipient
remains employed as an Eligible Person during the Vesting Period including the vesting date. 

  

	 Performance Measure:  
	The performance measures for the Conditional Grant, the performance percentage levels, and the applicable weighting percentages to be applied over the Performance Period are set forth on Schedule B to the Agreement. 

 

	 	At the end of the Performance Period, the Committee shall determine and certify the attainment of each performance goal based on the established performance percentage levels and apply the applicable weighting
percentages to determine the Final Amount of RSUs to be awarded to each Recipient. 

  

	 Performance Period:  
	The three-year period commencing January 1, 2016 and ending December 31, 2018. 

  

	 Vesting Period:  
	Except upon a change of control (as described below), death, or total and permanent disability (as described below), cessation of employment during the Performance Period shall result in the immediate forfeiture of the entire amount of the
Conditional Grant. To the extent all or a part of a Conditional Grant RSU award is earned as of the end of the Performance Period, an award equal to the Final Amount shall be made in RSUs to the Recipient as soon as administratively practical, but
not later than March 15 following the end of the Performance Period. Any such RSUs awarded shall vest in accordance with the following schedule, provided that the Recipient remains employed as an Eligible Person as of such vesting date:

  

	 	First day following the close of the Performance Period – 50% vested. 

  
 2 

	 	First anniversary of the first day following the close of the Performance Period – an additional 50% vested. 

  

	 	Except as described below, cessation of employment will result in the immediate forfeiture of all unvested RSUs. 

  

	 	Vesting is accelerated to 100% upon the Recipient’s death or total and permanent Disability during the Performance Period or the subsequent Vesting Period. Upon death or total and permanent Disability during the
Performance Period, the number of RSUs (and related shares of Stock) granted shall be deemed to be 1.00 times the Conditional Grant amount of RSUs (the Target Amount). Upon vesting, the applicable shares of Stock, subject to required tax
withholding, shall be transferred by the Company to the Recipient (or, in the event of the Recipient’s death, to his beneficiary) within thirty (30) days of the vesting date. The Recipient can name a beneficiary on a form approved by the
Committee. 

  

	 	Vesting is accelerated to 100% upon a Recipient’s Involuntary Termination or Voluntary Termination with Cause occurring (i) on or after a 409A Change of Control during the Vesting Period provided that the
Recipient is an Eligible Person at the time of such termination and (ii) after completion of the Performance Period. Upon vesting, the applicable shares of Stock, subject to required tax withholding, shall be transferred by the Company to the
Recipient within thirty (30) days of the vesting date. 

  

	 	 In the event of the Recipient’s Involuntary Termination or Voluntary Termination with Cause which occurs (i) on or after a 409A Change of Control of the
Company and (ii) on or prior to the end of the Performance Period, the Recipient will become 100% fully vested upon the occurrence of his Involuntary Termination or Voluntary Termination with Cause on or after the 409A Change of Control in the
number of RSUs determined by applying the multiple of 1.00 to the Target Amount. Upon vesting, the applicable shares of Stock, subject to required tax withholding, shall be transferred by the Company to the Recipient within thirty (30) days of
the later of (i) the date of the Recipient’s Involuntary Termination or Voluntary Termination with Cause or (ii) the end of the Performance Period. Notwithstanding the foregoing, if the payment of the Final Amount is subject to
Internal Revenue Code Section 409A, payment will not occur until the earlier of (1) the date payment would have been due if the 409A Change of Control had not occurred or (2) the date that the 409A Change of Control

  
 3 

	 	 
constitutes a “change in the ownership or effective control of the corporation, or in the ownership of a substantial portion of the assets of the corporation” within the meaning of
Internal Revenue Code Section 409A(a)(2)(A)(v). 

  

	 	If, during the Vesting Period, and after the end of the Performance Period, the Recipient’s termination of employment from the Company and the Affiliates occurs by reason of his or her Retirement, the Recipient may
be deemed to continue to be employed as an Eligible Person for purposes of this Grant and may continue to vest over the Vesting Period provided that the Recipient meets the Retirement Conditions set forth in section 6 of the Agreement. In the event
of a 409A Change of Control during such continued Vesting Period, vesting is accelerated to 100%. 

  

	 Withholding:  
	The Company and the Recipient will comply with all federal and state laws and regulations respecting the required withholding, deposit and payment of any income, employment or other taxes relating to the Grant. 

 

	 Clawback:  
	This Grant is subject to the Company’s Executive Compensation Clawback Policy (a copy of which is provided with this Notice) and the recoupment and reimbursement policies as provided in the Agreement. 

 

	 Dividends:  
	The Company will credit each of the Recipient’s Conditional Grant RSUs and RSUs, as applicable, with Dividend Equivalents. For purposes of this Grant, a Dividend Equivalent is an amount equal to the cash dividend payable per share of Stock
multiplied by the number of shares of Stock then underlying such outstanding Conditional Grant RSUs or RSUs, as applicable. Such amount will be credited to a book entry account on Recipient’s behalf at the time the Company pays any cash
dividend on its Stock. The Recipient’s rights in any such Dividend Equivalents will vest at the same time as, and only to the extent, that the underlying Conditional Grant RSUs or RSUs, as applicable, vest and will be distributed at the same
time as and in the same form as (subject to applicable withholdings), and only to the extent, the related RSUs are to be distributed to the Recipient as provided in the Agreement and to which such Dividend Equivalents apply. Dividend Equivalents on
Conditional Grant RSUs will accrue and be credited by the Company but will be subject to the same performance goals, applicable performance percentage levels and applicable weighting percentages as the related Conditional Grant RSUs. Dividend
Equivalents (as so adjusted) will not be paid to a Recipient until such Recipient becomes vested in the related RSUs granted at the end of the Performance Period and will be forfeited in the event of the forfeiture and cancellation of the related
Conditional Grant RSUs and RSUs pursuant to this Agreement. 

  
 4 

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

  
 5 

 SCHEDULE B 

Apache Corporation 
 2016
Performance Share Program 
 PERFORMANCE MEASURES 
  

	 Performance Goals: 
	1. Total Shareholder Return 

  

	 	At the end of the Performance Period, the Committee shall derive and confirm a portion of the number of Conditional Grant RSUs that will actually be awarded as RSUs to the Recipient based upon measurement of total
shareholder return (“TSR”) of Stock as compared to a designated Peer Group during the Performance Period, provided that the Recipient remains an Eligible Person and employed by the Company or its Affiliate as of the final day of the
Performance Period. 

  

	 	TSR is determined by dividing (i) the sum of the cumulative amount of a company’s dividends for the performance period (assuming same-day reinvestment into the company’s common stock on the ex-dividend
date) and the share price of the company at the end of the performance period minus the share price at the beginning of the performance period by (ii) the share price at the beginning of the performance period. 

 

	 	–	 	Begin Price = Average per share closing price of a share or share equivalent on the applicable stock exchange for the month of December immediately preceding the beginning of the performance period

  

	 	–	 	End Price = Average per share closing price of a share or share equivalent on the applicable stock exchange for the month of December immediately preceding the end of the performance period 

 

	 	–	 	Dividends = Includes dividends paid throughout performance period 

  

	 	–	 	TSR ranking compared to designated Peer Group (11 companies selected) 

  

	 	•	 	Anadarko Petroleum Corporation 

  

	 	•	 	Chesapeake Energy Corporation 

  
 6 

	 	•	 	ConocoPhillips Company 

  

	 	•	 	Devon Energy Corporation 

  

	 	–	 	 •  EOG Resources, Inc. 

  

	 	–	 	 •  Hess Corporation 

  

	 	–	 	 •  Marathon Oil Corporation 

  

	 	–	 	 •  Murphy Oil Corporation 

  

	 	–	 	 •  Noble Energy Inc. 

  

	 	–	 	 •  Occidental Petroleum Corporation 

  

	 	•	 	Pioneer Natural Resources Co. 

  

	 	–	 	Apache’s performance over a three-year performance period will be directly ranked within the peer group, resulting in the application of a single multiplier to the target shares to derive the number of shares
awarded. The multiplier will range from 0 for performance in the bottom quartile to 2.0 for ranking 1st among the peer group. 

  

	 	–	 	Should consolidation among peers in the marketplace occur, the ranking schedule would adjust to accommodate the reduced number of peers. 

 

	 	2. Business Performance 

  

	 	At the end of the Performance Period, the Committee shall derive and confirm a portion of the number of Conditional Grant RSUs that will actually be awarded as RSUs to the Recipient based upon quantitative performance
measures related to the following criteria: 

  

	 	•	 	Cash Flow from Operations; and 

  

	 	•	 	Reserves Added per Debt Adjusted Share 

  

	 	The Committee will consider all of the above performance measures related to the Company as a whole as follows: 

  

																	
	 Metric
	  	Weighting	 	 	Threshold	 	 	Target	 	  	Max	 
	 Total Shareholder Return
	  	 	50	% 	 	 	9th	  	 	 	6th	  	  	 	1st – 2nd	  
	 Cash Flow from Operations
	  	 	25	% 	 	 	-10	% 	 	 	Plan	  	  	 	+10	% 
	 Reserves added per debt adjusted share
	  	 	25	% 	 	 	-10	% 	 	 	Plan	  	  	 	+10	% 

  

	 Performance Period: 
	Three calendar years 

  

	 	–	 	1/1/2016 to 12/31/18 

  
 7 

	 Measurement: 
	At the conclusion of the three-year performance period, a calculation of TSR performance will be made and confirmed. 50% of the total Target Amount of RSUs will be determined based upon the final TSR performance as follows: 

 

							
	 	 	 Rank Against

Peers
	    	 Payout

Multiple
	  	 
		 	 1
	    	2.00	  	
		 	 2
	    	2.00	  	
		 	 3
	    	1.75	  	
		 	 4
	    	1.50	  	
		 	 5
	    	1.25	  	
		 	 6
	    	1.00	  	
		 	 7
	    	0.80	  	
		 	 8
	    	0.60	  	
		 	 9
	    	0.40	  	
		 	 10
	    	0.00	  	
		 	 11
	    	0.00	  	
		 	 12
	    	0.00	  	

  

	 	If Apache’s absolute TSR for the performance period is negative, the RSU grant will be capped at target (100%), regardless of the percentage achieved. 

 

	 	Cash Flow from Operations will be evaluated annually during the three-year performance period against their respective performance targets as determined at the beginning of each year (performance target for each
calendar year to be determined prior to March 31). Performance will be measured as a percentage above or below target. 25% of the total Target Amount of RSUs will be determined based upon the three-year average of the Cash Flow from Operations
performance. 

  

	 	Reserves Added per Debt Adjusted Share will be evaluated annually during the three-year performance period against their respective performance targets as determined at the beginning of each year (performance target for
each calendar year to be determined prior to March 31). Performance will be measured as a percentage above or below target. 25% of the total Target Amount of RSUs will be determined based upon the three-year average Reserves Added per Debt
Adjusted Share. 

  
 8 

	 	The three-year average performance for cash flow from operations and reserves added per debt adjusted share will be interpolated as follows to determine the final achievement percentage for each metric.

  

													
	 Metric
	  	Threshold	 	 	Target	 	  	Max	 
	 Cash Flow from Operations
	  	 	-10	% 	 	 	Plan	  	  	 	+10	% 
	 Reserves added per debt adjusted share
	  	 	-10	% 	 	 	Plan	  	  	 	+10	% 

  
 9 

 Apache Corporation 

2016 Performance Share Program Agreement 

This 2016 Performance Share Program Agreement (the “Agreement”) relating to a conditional grant of Restricted Stock Units (as
defined in the rules of the Apache Corporation 2011 Omnibus Equity Compensation Plan (the “Plan”) (the “Conditional Grant”), dated as of the Grant Date set forth in the Notice of Award under the 2016 Performance Share Program
attached as Schedule A hereto (the “Award Notice”), is made between Apache Corporation (together with its Affiliates, the “Company”) and each Recipient. The Award Notice is included in and made part of this Agreement. 

In this Agreement and each Award Notice, unless the context otherwise requires, words and expressions shall have the meanings given to them in
the Plan except as herein defined. 
 Definitions 

“409A Change of Control” means a Change of Control that constitutes, with respect to the Company, a “change in the
ownership or effective control of the corporation, or in the ownership of a substantial portion of the assets of the corporation” within the meaning of Section 409A(a)(2)(A)(v) of the Internal Revenue Code of 1986, as amended (the
“Code”) and Treasury Regulations Section 1.409A-3(i)(5). 
 “Award Notice” means the separate notice, along
with Schedule B, given to each Recipient specifying the Target Amount and other applicable performance percentage levels, performance criteria and applicable weighting percentages for that individual. 

“Base Salary” means, with regard to any Recipient, such Recipient’s annual base compensation as an employee of the
Company determined immediately prior to the beginning of the Performance Period, without regard to any bonus, pension, profit sharing, stock option, life insurance or salary continuation plan which the Recipient either receives or is otherwise
entitled to have paid on his or her behalf. 
 “Conditional Grant” means the conditional entitlement, evidenced by this
Agreement to receive all or a portion of a Target Amount and Final Amount, subject to and in accordance with the provisions of this Agreement. 

“Disability” means total and permanent disability as determined pursuant to the Company’s Group Long-Term Disability
Plan or any successor. 
 “Fair Market Value” means the closing price of the Stock as reported on The New York Stock
Exchange, Inc. Composite Transactions Reporting System (“Composite Tape”) for a particular date or, if the Stock is not so listed at any time, as reported on NASDAQ or on such other exchange or electronic trading system as, on the date in
question, reports the largest number of traded shares of stock. If there are no Stock transactions on such date, the Fair Market 

  
 10 

 
Value shall be determined as of the immediately preceding date on which there were Stock transactions. If the foregoing provisions are not applicable, the fair market value of a share of the
Stock shall be as determined by the Committee by the reasonable application of such reasonable valuation method, consistently applied, as the Committee deems appropriate. 

“Final Amount” means with regard to any Recipient, such number of shares of Restricted Stock Units (“RSUs”) as
specified in each Recipient’s Award Notice, times the applicable multiple factor determined under the Performance Measures at the end of the Performance Period. 

“Involuntary Termination” means the termination of employment of the Recipient by the Company or its successor for any reason
on or after a 409A Change of Control; provided, that the termination does not result from an act of the Recipient that (i) constitutes common-law fraud, a felony, or a gross malfeasance of duty, or (ii) is materially detrimental to the
best interests of the Company or its successor. 
 “Payout Amount” means the vested portion of the Final Amount, along with
any Dividend Equivalents related thereto as specified in the Award Notice, expressed as shares of Stock underlying the RSUs and related Dividend Equivalents. 

“Peer Group” means the group of companies selected by the Committee for purposes of this Agreement as set forth in the Award
Notice. Should consolidation among any Peer Group companies in the marketplace occur during the Performance Period, the Committee will determine the appropriate adjustments to accommodate the reduced number of Peer Group companies for the
Performance Period. Should a Change of Control of the Company occur during the Performance Period, the Committee will determine the appropriate adjustments to measure Apache Corporation’s TSR for the Performance Period. The Peer Group companies
for any particular Performance Period shall be determined at the commencement of such Performance Period. 
 “Performance
Measures” means, as set forth in the Award Notice, (i) Apache Corporation’s TSR over the Performance Period compared to the TSR of the Company’s Peer Group over the Performance Period, or (ii) Apache Corporation’s
achievement of pre-established performance goals over the Performance Period, as applicable. For purposes of determining TSR performance, at the end of the Performance Period, the Peer Group companies and the Company will be ranked together based on
their TSR for the Performance Period from the highest TSR being number 1 to the lowest TSR being the number of Peer Group companies, including the Company, remaining in the group at the end of the Performance Period. Based on the Company’s
relative TSR rank amongst the Peer Group companies for the Performance Period, a Recipient who remains employed as of the last day of the Performance Period will be issued RSUs at the close of the Performance Period as determined by the
Company’s percentile rank as set forth in the Award Notice (the Final Amount). At the end of the Performance Period, the Committee shall also determine and certify the levels of other specific performance goals achieved and apply the applicable
performance percentage levels and weighting percentages as set forth in the Award Notice. Based on the Company’s level of goal achievement, a Recipient who remains employed as of the last day of the Performance Period will be issued RSUs on the
day following the close of the Performance Period as determined by the Committee as set forth in the Award Notice (the Final Amount). 

  
 11 

 “Performance Period” means the three-year period as specified in the Award
Notice. 
 “Recipient” means an Eligible Person who has been designated by the Committee at the Grant Date at the beginning
of the Performance Period to receive one or more Conditional Grants under the Plan. For purposes of this Agreement, the group of Eligible Persons shall include all full-time and designated part-time employees of the Company who are employed as
employees of the Company (as designated by the Company for payroll purposes) on the date immediately prior to the beginning of the Performance Period, but excluding Egyptian nationals employed outside of the United States, employees categorized by
the Company (for payroll purposes) as non-exempt support and field staff, leased employees, interns, or any employee of the Company who is covered under a collective bargaining agreement, unless such collective bargaining agreement specifically
provides for coverage under the Plan. 
 “Retirement” means, with respect to a Recipient and for purposes of this
Agreement, the date the Recipient terminates employment with the Company after (i) attaining age 65 and (ii) earning at least 15 Years of Service. 

“Years of Service” means the total number of months from the Recipient’s date of hire by the Company to the date of
termination of employment divided by 12. 
 “Target Amount” means, with regard to any Recipient, such number of RSUs as
specified in each Recipient’s Award Notice. Such Target Amount shall be based upon a target percentage of annual Base Salary determined at the beginning of the Performance Period derived from job level. 

“Total Shareholder Return” or “TSR” is determined by dividing (i) the sum of the cumulative amount of a
company’s dividends for the Performance Period (assuming same-day reinvestment into the company’s common stock on the ex-dividend date) and the share price of the company at the end of the Performance Period minus the share price at the
beginning of the Performance Period, by (ii) the share price at the beginning of the Performance Period. 
 “Voluntary
Termination with Cause” occurs upon a Recipient’s separation from service of his own volition and one or more of the following conditions occurs without the Recipient’s consent on or after a 409A Change of Control: 

 

	 	(a)	There is a material diminution in the Recipient’s base compensation, compared to his rate of base compensation on the date of the 409A Change of Control. 

 

	 	(b)	There is a material diminution in the Recipient’s authority, duties or responsibilities. 

  

	 	(c)	There is a material diminution in the authority, duties or responsibilities of the Recipient’s supervisor, such as a requirement that the Recipient (or his supervisor) report to a corporate officer or employee
instead of reporting directly to the board of directors. 

  
 12 

	 	(d)	There is a material diminution in the budget over which the Recipient retains authority. 

  

	 	(e)	There is a material change in the geographic location at which the Recipient must perform his service, including, for example the assignment of the Recipient to a regular workplace that is more than 50 miles from his
regular workplace on the date of the 409A Change of Control. 

 The Recipient must notify the Company of the existence of one or more adverse
conditions specified in clauses (a) through (e) above within 90 days of the initial existence of the adverse condition. The notice must be provided in writing to Apache Corporation’s Executive Vice President, Human Resources or
his/her delegate. The notice may be provided by personal delivery or it may be sent by email, inter-office mail, regular mail (whether or not certified), fax, or any similar method. Apache Corporation’s Executive Vice President, Human
Resources, or his/her delegate shall acknowledge receipt of the notice within 5 business days; the acknowledgement shall be sent to the Recipient by certified mail. Notwithstanding the foregoing provisions of this definition, if the Company remedies
the adverse condition within 30 days of being notified of the adverse condition, no Voluntary Termination with Cause shall occur. 
 Terms

 1. Conditional Grant of RSUs. Subject to the provisions of this Agreement and the provisions of the Plan and Award Notice,
the Company shall conditionally grant to the Recipient, pursuant to the Plan, a right to receive the Target Amount of RSUs set forth in the Recipient’s Award Notice. Such Target Amount shall be adjusted to a Final Amount at the end of the
Performance Period based upon the results of the Performance Measures, as determined by the Committee. Notwithstanding the foregoing, the Target Amount shall be adjusted to a Final Amount of RSUs at the conclusion of the Performance Period solely
for each Recipient who remains employed as of the last day of the Performance Period. The award of the Final Amount shall give the Recipient the right, upon vesting, to an equal number of shares of $0.625 par value common stock of the Company
(“Stock”). 
 2. Vesting and Payment of Stock. Subject to the provisions of Section 3, the Payout Amounts shall be
payable in increments strictly in accordance with the following schedule: 
 (a) The entitlement to receive the number of shares of Stock
pursuant to the RSUs comprising the Final Amount shall vest fifty percent (50%) and become transferable as of the first day following the close of the Performance Period, provided that the Recipient remains employed as an Eligible Person on
such date. Such Stock, subject to applicable withholding, shall be transferred by the Company to the Recipient within thirty (30) days of the vesting date and not later than March 15 of the year following the year in which the RSUs vest.

 (b) The entitlement to receive the remaining fifty percent (50%) of the shares of Stock pursuant to the RSUs comprising the Final
Amount shall vest and become transferable as of the first anniversary of the first day following the close of the Performance Period, provided that the Recipient remains employed as an Eligible Person on such applicable vesting date. Such Stock,
subject to applicable withholding, shall be transferred by the Company to the Recipient within thirty (30) days of the respective vesting date and not later than March 15 of the year following the year in which the RSUs vest. 

  
 13 

 3. Termination of Employment, Death, or Disability on or prior to the end of the Performance
Period. Except as set forth below, a cessation of employment with the Company prior to the end of the Performance Period will result in the Target Amount being forfeited for all purposes. 

(a) If the Recipient dies while employed by the Company, or on the date the Recipient becomes Disabled (as defined in this Agreement), during
the Performance Period, the Recipient shall immediately receive an amount equal to the Target Amount of RSUs and shall become 100% vested in such Target Amount. Payment shall occur as soon as administratively convenient following the date the
Recipient dies or becomes Disabled, but in no event shall the payment occur later than March 15 of the calendar year immediately following the calendar year in which the Recipient died or became Disabled. If the Recipient dies before receiving
payment, the payment shall be made to the Recipient’s designated beneficiary, legal representatives, heirs, or legatees, as applicable. Each Recipient may designate a beneficiary on a form approved by the Committee. 

4. Termination of Employment, Retirement, Death or Disability after the end of the Performance Period. Except as set forth below, each
Conditional Grant shall be subject to the condition that the Recipient has remained an Eligible Person from the award of the Conditional Grant of RSUs until the applicable vesting date as follows: 

(a) If the Recipient voluntarily leaves the employment of the Company (other than for reason of Retirement), or if the employment of the
Recipient is terminated by the Company for any reason or no reason, any Final Amounts not previously vested shall thereafter be void and forfeited for all purposes. 

(b) A Recipient shall become 100% fully vested in all Final Amounts on the date the Recipient dies while employed by the Company (or while
continuing to vest pursuant to section 4(c) below), or on the date the Recipient becomes Disabled (as defined for purposes of this Agreement) while employed by the Company. Payment shall occur as soon as administratively convenient following the
date the Recipient dies or becomes Disabled, but in no event shall the payment occur later than March 15 of the calendar year immediately following the calendar year in which the Recipient died or became Disabled. If the Recipient dies before
receiving payment, the payment shall be made to the Recipient’s designated beneficiary, legal representatives, heirs, or legatees, as applicable. Each Recipient may designate a beneficiary on a form approved by the Committee. 

(c) If the Recipient leaves the employment of the Company by reason of Retirement, any Final Amounts not previously vested may continue to
vest following the Recipient’s termination of employment by reason of Retirement after the end of the Performance Period as if the Recipient remained an Eligible Person in the employ of the Company, provided that such Recipient shall be
entitled to continue vesting only if such Recipient satisfies the Retirement Conditions set forth in section 6 below (except in the case of death). 

  
 14 

 5. Change of Control. 

(a) Pursuant to Section 12.1(d) of the Plan, the following provisions of this section 5 of the Agreement shall supersede Sections 12.1(a),
(b) and (c) of the Plan. Without any further action by the Committee or the Board, in the event of the Recipient’s Involuntary Termination or Voluntary Termination with Cause which occurs (i) on or after a 409A Change of Control
of the Company and (ii) prior to the end of the Performance Period, the Recipient shall become 100% fully vested upon the occurrence of his Involuntary Termination or Voluntary Termination with Cause on or after the 409A Change of Control in
the number of RSUs determined by applying the multiple of 1.00 to the Target Amount. Subject to section 13(d) of this Agreement, payment shall occur within thirty (30) days of the later of (1) the date of the Involuntary Termination or
Voluntary Termination with Cause of the Recipient following the 409A Change of Control or (2) the end of the Performance Period. 
 (b)
In the event of a Recipient’s Involuntary Termination or Voluntary Termination with Cause occurring on or after a 409A Change of Control of the Company which occurs after the end of the Performance Period, the Recipient shall become 100% fully
vested in the Final Amount of RSUs as of the date of his Involuntary Termination or Voluntary Termination with Cause. Subject to section 13(d) of this Agreement, payment shall occur within thirty (30) days of the date of such Involuntary
Termination or Voluntary Termination with Cause. 
 (c) In the event of a 409A Change of Control of the Company following the
Recipient’s termination of employment by reason of Retirement after the end of the Performance Period while the Recipient is continuing to vest pursuant to section 4(c), the Recipient shall become 100% fully vested in the unvested Final Amount
of RSUs as of the date of the 409A Change of Control. Subject to section 13(d) of this Agreement, payment shall occur within thirty (30) days of the 409A Change of Control. 

6. Conditions to Post-Retirement Vesting. If the Recipient has attained age 65 and has completed at least 15 Years of Service and such
Recipient terminates employment with the Company and the Affiliates by reason of Retirement, it is agreed by the Company and the Recipient that: 

(a) subject to the provisions of this section 6(a) and sections 6(b) and 6(c), such Recipient may continue to vest in the unvested Final
Amount of RSUs following the date of his or her termination by reason of Retirement as if the Recipient continued in employment as an Eligible Person provided that the Grant Date of the unvested RSUs is at least three (3) months prior to such
termination date and the Recipient has provided not less than three (3) months’ advance written notice prior to such termination date to Apache Corporation’s Executive Vice President, Human Resources, or his or her delegate, and to
his or her direct manager, regarding the Recipient’s intent to terminate employment for reason of Retirement; provided, however, a Recipient who is at least age 65 and has completed at least 15 Years of Service need not
provide such three (3) months’ advance written notice of his or her intent to terminate employment by reason of Retirement if the Company elects to require such Recipient to, or (as part of a reduction in force or otherwise in writing
in exchange for a written release) offers such Recipient the opportunity to, terminate employment with the Company by reason of Retirement; and it is further agreed that 

  
 15 

 (b) in consideration for the continued vesting treatment afforded to the Recipient under section
6(a), Recipient shall, during the continuing Vesting Period after Retirement (the “Continued Vesting Period”) refrain from becoming employed by, or consulting with, or becoming substantially involved in the business of, any business that
competes with the Company or its Affiliate in the business of exploration or production of oil or natural gas within the geographic area in which the Recipient is working or has worked for the Company or its Affiliate, and/or for which the Recipient
is or was responsible, at the time of termination of employment or the immediately preceding three-year period (a “Competitive Business”); provided, that the Recipient may purchase and hold for investment purposes less than five
percent (5%) of the shares of any Competitive Business whose shares are regularly traded on a national securities exchange or inter-dealer quotation system, and provided further, that the Recipient may provide services solely as a
director to a Competitive Business if, during the Continued Vesting Period, the Recipient is not involved directly in the day-to-day management, supervision or operations of such Competitive Business; and it is further agreed that 

(c) in consideration for the continued vesting treatment afforded to the Recipient under section 6(a), Recipient shall, during the Continued
Vesting Period, refrain from making, or causing or assisting any other person to make, any oral or written communication to any third party about the Company, any Affiliate and/or any of the employees, officers or directors of the Company or any
Affiliate which impugns or attacks, or is otherwise critical of, the reputation, business or character of such entity or person; or that discloses private or confidential information about their business affairs; or that constitutes an intrusion
into their seclusion or private lives; or that gives rise to unreasonable publicity about their private lives; or that places them in a false light before the public; or that constitutes a misappropriation of their name or likeness. 

Notwithstanding the foregoing provisions of this section 6 of the Agreement, in the event that the Recipient fails to satisfy any of the conditions set forth
in sections 6(a), (b) and (c) above, the Recipient shall not be entitled to vest in any unvested Final Amount of RSUs after the date of Retirement and the unvested Final Amount of RSUs subject to this Agreement shall be forfeited. 

7. Prohibited Activity. In consideration for this Grant, the Recipient agrees not to engage in any “Prohibited Activity”
while employed by the Company or within three years after the date of the Recipient’s termination of employment. A “Prohibited Activity” will be deemed to have occurred, as determined by the Committee in its sole and absolute
discretion, if the Recipient (i) divulges any non-public, confidential or proprietary information of the Company, but excluding information that (a) becomes generally available to the public other than as a result of the Recipient’s
public use, disclosure, or fault, or (b) becomes available to the Recipient on a non-confidential basis after the Recipient’s employment termination date from a source other than the Company prior to the public use or disclosure by the
Recipient, provided that such source is not bound by a confidentiality agreement or otherwise prohibited from transmitting the information by contractual, legal or fiduciary obligation, (ii) directly or indirectly, consults with or becomes
affiliated with, participate or engage in, or becomes employed by any business that is competitive with the Company, wherever from time to time conducted throughout the world, including situations where the Recipient solicits or participates in or
assists in any way in the solicitation or recruitment, directly or indirectly, of any employees of the Company; or (iii) engages in publishing any oral or written statements about the Company, and/or any of its

  
 16 

 
directors, officers, or employees that are disparaging, slanderous, libelous, or defamatory; or that disclose private or confidential information about their business affairs; or that constitute
an intrusion into their seclusion or private lives; or that give rise to unreasonable publicity about their private lives; or that place them in a false light before the public; or that constitute a misappropriation of their name or likeness. 

8. Payment and Tax Withholding. Upon receipt of any entitlement to Stock under this Agreement and, if applicable, upon the
Recipient’s attainment of eligibility to terminate employment by reason of Retirement pursuant to section 4(c), the Recipient shall make appropriate arrangements with the Company to provide for the amount of minimum tax withholding required by
law, including without limitation Sections 3102 and 3402 or any successor section(s) of the Internal Revenue Code and applicable state and local income and other tax laws. Upon receipt of entitlement to Stock under this Agreement, each payment of
the Payout Amount shall be made in shares of Stock, determined by the Committee, such that the withheld number of shares shall be sufficient to cover the withholding amount required by this Section (including any amount to cover benefit tax charges
arising thereon). The payment of a Payout Amount shall be based on the Fair Market Value of the shares of Stock on the applicable date of vesting to which such tax withholding relates. Where appropriate, shares shall be withheld by the Company to
satisfy applicable tax withholding requirements rather than paid directly to the Recipient. 
 9. No Ownership Rights Prior to Issuance
of Stock. Neither the Recipient nor any other person shall become the beneficial owner of the Stock underlying the Conditional Grant, nor have any rights of a shareholder (including, without limitation, dividend and voting rights) with respect
to any such Stock, unless and until and after such Stock has been actually issued to the recipient and transferred on the books and records of the Company or its agent in accordance with the terms of the Plan and this Agreement. 

10. Non-Transferability of Stock. Stock issued pursuant to a Conditional Grant shall not be transferable otherwise than by will or the
laws of descent and distribution, subject to the conditions and exceptions set forth in Section 14.2 of the Plan. 
 11. No Right to
Continued Employment. Neither the RSUs or Stock issued pursuant to a Conditional Grant nor any terms contained in this Agreement shall confer upon the Recipient any express or implied right to be retained in the employment or service of the
Company for any period, nor restrict in any way the right of the Company, which right is hereby expressly reserved, to terminate the Recipient’s employment or service at any time for any reason or no reason. The Recipient acknowledges and
agrees that any right to receive RSUs or Stock pursuant to a Conditional Grant is earned only by continuing as an employee of the Company at the will of the Company, or satisfaction of any other applicable terms and conditions contained in the Plan
and this Agreement, and not through the act of being hired, being granted the Conditional Grant, or acquiring RSUs or Stock pursuant to the Conditional Grant hereunder. 

12. The Plan. In consideration for this Conditional Grant, the Recipient agrees to comply with the terms of the Plan and this
Agreement. This Agreement is subject to all the terms, provisions and conditions of the Plan, which are incorporated herein by reference, and to such regulations as may from time to time be adopted by the Committee. Unless defined herein,

  
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 capitalized terms are used herein as defined in the Plan. In the event of any conflict between the provisions of
the Plan and this Agreement, the provisions of the Plan shall control, and this Agreement shall be deemed to be modified accordingly. The Plan and the prospectus describing the Plan can be found on the Company’s HR intranet and the Plan
document can be found on Fidelity’s website (netbenefits.fidelity.com). A paper copy of the Plan and the prospectus shall be provided to the recipient upon the Recipient’s written request to the Company at 2000 Post Oak Blvd., Suite 100,
Houston, Texas 77056-4400, Attention: Corporate Secretary. 
 13. Compliance with Laws and Regulations. 

(a) The Conditional Grant and any obligation of the Company to deliver RSUs or Stock hereunder shall be subject in all respects to (i) all
applicable laws, rules and regulations and (ii) any registration, qualification, approvals or other requirements imposed by any government or regulatory agency or body which the Committee shall, in its discretion, determine to be necessary or
applicable. Moreover, the Company shall not deliver any certificates for Stock to the Recipient or any other person pursuant to this Agreement if doing so would be contrary to applicable law. If at any time the Company determines, in its discretion,
that the listing, registration or qualification of Stock upon any national securities exchange or under any applicable law, or the consent or approval of any governmental regulatory body, is necessary or desirable, the Company shall not be required
to deliver any certificates for Stock to the Recipient or any other person pursuant to this Agreement unless and until such listing, registration, qualification, consent or approval has been effected or obtained, or otherwise provided for, free of
any conditions not acceptable to the Company. 
 (b) It is intended that any Stock received in respect of the Conditional Grant shall have
been registered under the Securities Act of 1933 (“Securities Act”). If the Recipient is an “affiliate” of the Company, as that term is defined in Rule 144 under the Securities Act (“Rule 144”), the Recipient may not
sell the Stock received except in compliance with Rule 144. Certificates representing Stock issued to an “affiliate” of the Company may bear a legend setting forth such restrictions on the disposition or transfer of the Stock as the
Company deems appropriate to comply with Federal and state securities laws. 
 (c) If, at any time, the Stock is not registered under the
Securities Act, and/or there is no current prospectus in effect under the Securities Act with respect to the Stock, the Recipient shall execute, prior to the delivery of any Stock to the Recipient by the Company pursuant to this Agreement, an
agreement (in such form as the Company may specify) in which the Recipient represents and warrants that the Recipient is purchasing or acquiring the Stock acquired under this Agreement for the Recipient’s own account, for investment only and
not with a view to the resale or distribution thereof, and represents and agrees that any subsequent offer for sale or distribution of any kind of such Stock shall be made only pursuant to either (i) a registration statement on an appropriate
form under the Securities Act, which registration statement has become effective and is current with regard to the Stock being offered or sold, or (ii) a specific exemption from the registration requirements of the Securities Act, but in
claiming such exemption the Recipient shall, prior to any offer for sale of such Stock, obtain a prior favorable written opinion, in form and substance satisfactory to the Company, from counsel for or approved by the Company, as to the applicability
of such exemption thereto. 

  
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 (d) This Conditional Grant is intended to comply with, or be exempt from, the applicable
requirements of Section 409A of the Code and the rules and regulations issued thereunder and shall be administered accordingly. Notwithstanding anything in this Agreement to the contrary, if the RSUs constitute “deferred compensation”
under Section 409A of the Code and any RSUs become payable pursuant to the Recipient’s termination of employment, settlement of the RSUs shall be delayed for a period of six months after the Recipient’s termination of employment if
the Recipient is a “specified employee” as defined under Code Section 409A(a)(2)(B)(i) and if required pursuant to Section 409A of the Code. If settlement of the RSUs is delayed, the RSUs shall be settled on the first day of the
first calendar month following the end of the six-month delay period. If the Recipient dies during the six-month delay, the RSUs shall be settled and paid to the Recipient’s designated beneficiary, legal representatives, heirs or legatees, as
applicable, as soon as practicable after the date of death. Notwithstanding any provision to the contrary herein, payments made with respect to this Conditional Grant may only be made in a manner and upon an event permitted by Section 409A of
the Code, and all payments to be made upon a termination of employment hereunder may only be made upon a “separation from service,” as such term is defined in Section 10.1 of the Plan. This Agreement may be amended without the consent
of the Recipient in any respect deemed by the Board or the Committee to be necessary in order to preserve compliance with Section 409A of the Code. 

14. Notices. All notices by the Recipient or the Recipient’s assignees shall be addressed to the Administrative Agent, Fidelity,
through the Recipient’s account at netbenefits.fidelity.com, or such other address as the Company may from time to time specify. All notices to the Recipient shall be addressed to the Recipient at the Recipient’s address in the
Company’s records. 
 15. Other Plans. The Recipient acknowledges that any income derived from the Conditional Grant shall not
affect the Recipient’s participation in, or benefits under, any other benefit plan or other contract or arrangement maintained by the Company or any Affiliate. 

16. Terms of Employment. The Plan is a discretionary plan. The Recipient hereby acknowledges that neither the plan nor this Agreement
forms part of his terms of employment and nothing in the Plan may be construed as imposing on the Company or any Affiliate a contractual obligation to offer participation in the Plan to any employee of the Company or any Affiliate. The Company or
any Affiliate is under no obligation to grant further Stock to any Recipient under the Plan. The Recipient hereby acknowledges that if he ceases to be an employee of the Company or any Affiliate for any reason or no reason, he shall not be entitled
by way of compensation for loss of office or otherwise howsoever to any sum. 
 17. Data Protection. By accepting this Agreement
(whether by electronic means or otherwise), the Recipient hereby consents to the holding and processing of personal data provided by him to the Company for all purposes necessary for the operation of the Plan. These include, but are not limited to:

 (a) administering and maintaining Recipient records; 

(b) providing information to any registrars, brokers or third party administrators of the Plan; and 

  
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 (c) providing information to future purchasers of the Company or the business in which the
Recipient works. 
 18. Clawback Policy. If required by the Sarbanes-Oxley Act of 2002 and/or by the Dodd-Frank Wall Street Reform
and Consumer Protection Act of 2010, each Recipient’s Award shall be conditioned on repayment or forfeiture in accordance with applicable law. In addition, the Company’s Executive Compensation Clawback Policy is hereby incorporated by
reference and shall form a part of this Agreement and each Recipient’s Award shall be subject to such Policy. In connection with a material negative accounting restatement by the Company as the result of fraud, intentional misconduct, or gross
negligence by the Recipient, Awards and payments in connection with Awards granted under this Agreement may be subject to recovery and Recipient may be required to repay to the Company all or a portion of any Award or payments received in connection
with any Award hereunder. In the event that the Company determines to seek recovery with respect to an Award under this Agreement, an affected Recipient may elect to repay the applicable clawback amount in cash or, if shares of Stock received
pursuant to an affected Award are still owned by the Recipient, in net after-tax shares of Stock received pursuant to the Award. The date for determination of the value of the applicable compensation to be repaid shall be the vesting date of the
affected Award and the amount of any applicable repayment shall be determined based upon the net after-tax amount realized by the Recipient as income on such vesting date, applying the highest marginal tax rate for federal, state and local income
taxes. 
 19. Severability. If any provision of this Agreement is held invalid or unenforceable, the remainder of this Agreement
shall nevertheless remain in full force and effect, and if any provision is held invalid or unenforceable with respect to particular circumstances, it shall nevertheless remain in full force and effect in all other circumstances, to the fullest
extent permitted by law. 
 ***** 

  
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 Apache Corporation 

Executive Compensation Clawback Policy 

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

This Policy applies to any incentive compensation for years commencing after the adoption of this Policy. 

  
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