Document:

EX-10.3

 Exhibit 10.3 

APACHE CORPORATION 
 2005
STOCK OPTION PLAN 
 (Amended and Restated effective September 16, 2013) 

Section 1 

Introduction 
 1.1
Establishment. Apache Corporation, a Delaware corporation (hereinafter referred to, together with its Affiliated Corporations (as defined in Section 2.1 hereof) as the “Company” except where the context otherwise requires),
hereby establishes the Apache Corporation 2005 Stock Option Plan (the “Plan”) for Eligible Employees (as defined in Section 2.1 hereof). The Plan permits the grant of stock options to Eligible Employees selected by the Committee (as
defined in Section 2.1 hereof). 
 1.2 Purposes. The purposes of the Plan are to provide the Eligible Employees designated by the Committee for
participation in the Plan with added incentives to continue in the long-term service of the Company and to create in such employees a more direct interest in the future success of the operations of the Company by relating incentive compensation to
increases in stockholder value, so that the income of those employees is more closely aligned with the interests of the Company’s stockholders. The Plan is also designed to attract outstanding individuals and to retain and motivate Eligible
Employees by providing an opportunity for investment in the Company. 
 1.3 Effective Date. The Effective Date of the Plan (the “Effective
Date”) is February 3, 2005. This Plan and each Option (as defined in Section 2.1 hereof) granted hereunder is conditioned on and shall be of no force or effect until the Plan is approved by the stockholders of the Company. The
Committee may grant Options, the exercise of which shall be expressly subject to the condition that the Plan shall have been approved by the stockholders of the Company. 

Section 2 

Definitions 
 2.1
Definitions. The following terms shall have the meanings set forth below: 
 (a) “Administrative Agent” means any
designee or agent that may be appointed by the Committee pursuant to Section 3.1(b) hereof. 

  
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 (b) “Affiliated Corporation” means any corporation or other entity (including
but not limited to a partnership) which is affiliated with Apache Corporation through stock ownership or otherwise and is treated as a common employer under the provisions of Sections 414(b) and (c) or any successor section(s) of the Internal
Revenue Code. 
 (c) “Board” means the Board of Directors of the Company. 

(d) “Committee” means the Stock Plan Committee of the Board, which is empowered hereunder to take actions in the
administration of the Plan. The Committee shall be constituted at all times as to permit the Plan to comply with Rule 16b-3 or any successor rule(s) promulgated under the Securities Exchange Act of 1934, as amended (the “1934 Act”). 

(e) “Eligible Employees” means full-time employees (including, without limitation, officers and directors who are also
employees), and certain part-time employees, of the Company or any division thereof. 
 (f) “Expiration Date” means the date
on which the Option Period (as defined in subsection 7.2(c) hereof) ends. 
 (g) “Fair Market Value” means the per share
closing price of the Stock as reported on The New York Stock Exchange, Inc. Composite Transactions Reporting System for a particular date or, if the Stock is not so listed on such date, as reported on NASDAQ or on such other exchange or electronic
trading system which, on the date in question, reports the largest number of traded shares of Stock, provided, however, that if on the date Fair Market Value is to be determined there are no transactions in the Stock, Fair Market Value
shall be determined as of the immediately preceding date on which there were transactions in the Stock; provided further, however, that if the foregoing provisions are not applicable, the fair market value of a share of the
Stock as determined by the Committee by the reasonable application of such reasonable valuation method, consistently applied, as the Committee deems appropriate. 

(h) “Internal Revenue Code” means the Internal Revenue Code of 1986, as it may be amended from time to time, and any successor
thereto. 
 (i) “Option” means a right to purchase shares of Stock at a stated price for a specified period of time. All
Options granted under the Plan shall be Options which are not “incentive stock options” as described in Section 422 or any successor section(s) of the Internal Revenue Code. 

(j) “Option Price” means the price at which shares of Stock subject to an Option may be purchased, determined in accordance
with subsection 7.2(b) hereof. 

  
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 (k) “Participant” means an Eligible Employee designated by the Committee from
time to time during the term of the Plan to receive one or more Options under the Plan. 
 (l) “Stock” means the U.S. $0.625
par value Common Stock of the Company or any security into which such Common Stock is converted or exchanged upon merger, consolidation, or any capital restructuring (within the meaning of Section 4.3) of the Company. 

2.2 Headings; Gender and Number. The headings contained in the Plan are for reference purposes only and shall not affect in any way the meaning or
interpretation of the Plan. Except when otherwise indicated by the context, the masculine gender shall also include the feminine gender, and the definition of any term herein in the singular shall also include the plural. 

Section 3 
 Plan
Administration 
 3.1 Administration by the Committee. 

(a) The Plan shall be administered by the Committee. In accordance with the provisions of the Plan, the Committee shall, in its sole
discretion, select the Participants from among the Eligible Employees, determine the Options to be granted pursuant to the Plan, the number of shares of Stock to be issued thereunder, the time at which such Options are to be granted, fix the Option
Price, and establish such other terms and requirements as the Committee may deem necessary or desirable and consistent with the terms of the Plan. The Committee shall determine the form or forms of the agreements with Participants which shall
evidence the particular provisions, terms, conditions, rights and duties of the Company and the Participants with respect to Options granted pursuant to the Plan, which provisions need not be identical except as may be provided herein. 

(b) The Committee may from time to time adopt such rules and regulations for carrying out the purposes of the Plan as it may deem proper and in
the best interests of the Company. The Committee may appoint an Administrative Agent, who need not be a member of the Committee or an employee of the Company, to assist the Committee in administration of the Plan and to whom it may delegate such
powers as the Committee deems appropriate, except that the Committee shall determine any dispute. The Committee may correct any defect, supply any omission or reconcile any inconsistency in the Plan, or in any agreement entered into hereunder, in
the manner and to the extent it shall deem expedient and it shall be the sole and final judge of such expediency. No member of the Committee shall be liable for any action or determination made in good faith. The determination, interpretations and
other actions of the Committee pursuant to the provisions of the Plan shall be binding and conclusive for all purposes and on all persons. 

  
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 3.2 Compliance with Section 162(m). The Plan is intended to comply with the requirements of
Section 162(m) or any successor section(s) of the Internal Revenue Code (“Section 162(m)”) as to any “covered employee” as defined in Section 162(m), and shall be administered, interpreted and construed consistently
therewith. In accordance with this intent, the amount of income a Participant may receive from Options granted under the Plan shall be based solely on an increase in the value of the Stock after the date of the grant of the Option, or such other
bases as may be permitted by applicable law. The Committee is authorized to take such additional action, if any, that may be required to ensure that the Plan and any Option granted under the Plan satisfy the requirements of Section 162(m),
taking into account any regulations or other guidance issued by the Internal Revenue Service. 
 Section 4 

Stock Subject to the Plan 
 4.1
Number of Shares. Subject to Section 7.1 hereof and to adjustment pursuant to Section 4.3 hereof, five million (5,000,000) shares of Stock are authorized for issuance under the Plan in accordance with the provisions of the Plan
and subject to such restrictions or other provisions as the Committee may from time to time deem necessary. This authorization may be increased from time to time by approval of the Board and the stockholders of the Company if, on the advice of
counsel for the Company, such stockholder approval is required. Shares of Stock which may be issued upon exercise of Options shall be applied to reduce the maximum number of shares of Stock remaining available for use under the Plan. The Company
shall at all times during the term of the Plan and while any Options are outstanding retain as authorized and unissued Stock, or as Stock in the Company’s treasury, at least the number of shares from time to time required under the provisions
of the Plan, or otherwise assure itself of its ability to perform its obligations hereunder. 
 4.2 Other Shares of Stock. Any shares of Stock that
are subject to an Option which expires, is forfeited, is cancelled, or for any reason is terminated unexercised, and any shares of Stock that for any other reason are not issued to a Participant or are forfeited shall automatically become available
for use under the Plan. 

  
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 4.3 Adjustments for Stock Split, Stock Dividend, Etc. If the Company shall at any time increase or
decrease the number of its outstanding shares of Stock or change in any way the rights and privileges of such shares by means of the payment of a Stock dividend or any other distribution upon such shares payable in Stock, or through a Stock split,
subdivision, consolidation, combination, reclassification or recapitalization involving the Stock (any of the foregoing being herein called a “capital restructuring”), then in relation to the Stock that is affected by one or more of the
above events, the numbers, rights and privileges of the following shall be, in each case, equitably and proportionally adjusted to take into account the occurrence of any of the above events, (i) the shares of Stock as to which Options may be
granted under the Plan; (ii) the shares of Stock then included in each outstanding Option granted hereunder; and (iii) the Option Price for each outstanding Option granted hereunder. 

4.4 Dividend Payable in Stock of Another Corporation, Etc. If the Company shall at any time pay or make any dividend or other distribution upon the
Stock payable in securities or other property (except money or Stock), a proportionate part of such securities or other property shall be set aside and delivered to any Participant then holding an Option for the particular type of Stock for which
the dividend or other distribution was made, upon exercise thereof. Prior to the time that any such securities or other property are delivered to a Participant in accordance with the foregoing, the Company shall be the owner of such securities or
other property and shall have the right to vote the securities, receive any dividends payable on such securities, and in all other respects shall be treated as the owner. If securities or other property which have been set aside by the Company in
accordance with this Section are not delivered to a Participant because an Option is not exercised, then such securities or other property shall remain the property of the Company and shall be dealt with by the Company as it shall determine in its
sole discretion. 
 4.5 Other Changes in Stock. In the event there shall be any change, other than as specified in Sections 4.3 and 4.4 hereof, in
the number or kind of outstanding shares of Stock or of any stock or other securities into which the Stock shall be changed or for which it shall have been exchanged, and if the Committee shall in its discretion determine that such change equitably
requires an adjustment in the number or kind of shares subject to outstanding Options or which have been reserved for issuance pursuant to the Plan but are not then subject to an Option, then such adjustments shall be made by the Committee and shall
be effective for all purposes of the Plan and on each outstanding Option that involves the particular type of stock for which a change was effected. 

  
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 4.6 Rights to Subscribe. If the Company shall at any time grant to the holders of its Stock rights to
subscribe pro rata for additional shares thereof or for any other securities of the Company or of any other corporation, there shall be reserved with respect to the shares then under Option to any Participant of the particular class of
Stock involved the Stock or other securities which the Participant would have been entitled to subscribe for if immediately prior to such grant the Participant had exercised his entire Option. If, upon exercise of any such Option, the Participant
subscribes for the additional shares or other securities, the aggregate Option Price shall be increased by the amount of the price that is payable by the Participant for such additional shares or other securities. 

4.7 General Adjustment Rules. No adjustment or substitution provided for in this Section 4 shall require the Company to sell a fractional share of
Stock under any Option, or otherwise issue a fractional share of Stock, and the total substitution or adjustment with respect to each Option shall be limited by deleting any fractional share. In the case of any such substitution or adjustment, the
aggregate Option Price for the shares of Stock then subject to the Option shall remain unchanged but the Option Price per share under each such Option shall be equitably adjusted by the Committee to reflect the greater or lesser number of shares of
Stock or other securities into which the Stock subject to the Option may have been changed. 
 4.8 Determination by the Committee, Etc.
Adjustments under this Section 4 shall be made by the Committee, whose determinations with regard thereto shall be final and binding upon all parties. 

Section 5 

Reorganization or Liquidation 
 In
the event that the Company is merged or consolidated with another corporation and the Company is not the surviving corporation, or if all or substantially all of the assets or more than 20 percent of the outstanding voting stock of the Company is
acquired by any other corporation, business entity or person, or in case of a reorganization (other than a reorganization under the United States Bankruptcy Code) or liquidation of the Company, and if the provisions of Section 8 hereof do not
apply, the Committee, or the board of directors of any corporation assuming the obligations of the Company, shall, as to the Plan and outstanding Options make appropriate provision for the adoption and continuation of the Plan by the acquiring or
successor corporation and for the protection of any such outstanding Options by the substitution on an equitable basis of appropriate stock of the Company or of the merged, consolidated or otherwise reorganized corporation which will be issuable
with 

  
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respect to the Stock, provided that no additional benefits shall be conferred upon the Participants holding such Options as a result of such substitution, and the excess of the aggregate Fair
Market Value of the shares subject to the Options immediately after such substitution over the aggregate Option Price thereof is not more than the excess of the aggregate Fair Market Value of the shares subject to such Options immediately before
such substitution over the aggregate Option Price thereof. Additionally, upon the occurrence of such an event and upon written notice to the Participants, the Committee may provide that all unexercised Options shall be exercised within a specified
number of days of the date of such notice or such Options will be terminated. In the latter event, the Committee shall accelerate the vesting dates of outstanding Options so that all Options become fully vested and exercisable prior to any such
event. 
 Section 6 

Participation 
 Participants in the
Plan shall be those Eligible Employees who, in the judgment of the Committee, are performing, or during the term of their incentive arrangement will perform, vital services in the management, operation and development of the Company or an Affiliated
Corporation, and significantly contribute, or are expected to significantly contribute, to the achievement of the Company’s long-term corporate economic objectives. Participants may be granted from time to time one or more Options; provided,
however, that the grant of each such Option shall be separately approved by the Committee, and receipt of one such Option shall not result in automatic receipt of any other Option. Upon determination by the Committee that an Option is to be granted
to a Participant, written notice shall be given to such person, specifying the terms, conditions, rights and duties related thereto. Each Participant shall, if required by the Committee, enter into an agreement with the Company, in such form as the
Committee shall determine and which is consistent with the provisions of the Plan, specifying such terms, conditions, rights and duties. Options shall be deemed to be granted as of the date specified in the grant resolution of the Committee, which
date shall be the date of any related agreement with the Participant. In the event of any inconsistency between the provisions of the Plan and any such agreement entered into hereunder, the provisions of the Plan shall govern. 

  
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 Section 7 

Stock Options 
 7.1 Grant of
Stock Options. Coincident with or following designation for participation in the Plan, an Eligible Employee may be granted one or more Options. Grants of Options under the Plan shall be made by the Committee. In no event shall the exercise of
one Option affect the right to exercise any other Option or affect the number of shares of Stock for which any other Option may be exercised, except as provided in subsection 7.2(j) hereof. During the duration of the Plan, no Eligible Employee may
be granted Options which in the aggregate cover in excess of 25 percent of the total shares of Stock authorized under the Plan. 
 7.2 Stock Option
Agreements. Each Option granted under the Plan shall be evidenced by a written stock option agreement which shall be entered into by the Company and the Participant to whom the Option is granted (the “Stock Option Agreement”), and
which shall contain the following terms and conditions set out in this Section 7.2, as well as such other terms and conditions, not inconsistent therewith, as the Committee may consider appropriate. This requirement for delivery of a written
Stock Option Agreement is satisfied by electronic delivery of such agreement provided that evidence of the Participant’s receipt of such electronic delivery is available to the Company and all applicable laws and regulations permit such
delivery. 
 (a) Number of Shares. Each Stock Option Agreement shall state that it covers a specified number of shares of Stock, as
determined by the Committee. 
 (b) Price. The price at which each share of Stock covered by an Option may be purchased shall be
determined in each case by the Committee and set forth in the Stock Option Agreement, but in no event shall the price be less than the Fair Market Value of the Stock on the date the Option is granted. 

(c) Duration of Options; Employment Required For Exercise. Each Stock Option Agreement shall state the period of time, determined by the
Committee, within which the Option may be exercised by the Participant (the “Option Period”). The Option Period must end, in all cases, not more than ten years from the date an Option is granted. Except as otherwise provided in Sections 5
and 8 and subsection 7.2(d)(iv) hereof, each Option granted under the Plan shall become exercisable in increments such that 25 percent of the Option becomes exercisable on each of the four subsequent one-year anniversaries of the date the Option is
granted, provided that each such additional 25-percent increment shall become exercisable only if the Participant has been continuously employed by the Company from the date the Option is granted through the date on which each such additional
25-percent increment becomes exercisable. 

  
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 (d) Termination of Employment, Death, Disability, Etc. Each Stock Option Agreement shall
provide as follows with respect to the exercise of the Option upon termination of the employment or the death or disability of the Participant: 

(i) If the employment of the Participant by the Company is terminated within the Option Period for cause, as determined by the Company, the
Option shall thereafter be void for all purposes. As used in this subsection 7.2(d), “cause” shall mean a gross violation, as determined by the Company, of the Company’s established policies and procedures, provided that the effect of
this subsection 7.2(d) shall be limited to determining the consequences of a termination and that nothing in this subsection 7.2(d) shall restrict or otherwise interfere with the Company’s discretion with respect to the termination of any
employee. 
 (ii) If the Participant retires from employment by the Company on or after attaining age 60, the Option may be exercised by the
Participant within 36 months following his or her retirement (provided that such exercise must occur within the Option Period), but not thereafter. In the event of the Participant’s death during such 36-month period, each Option may be
exercised by those entitled to do so in the manner referred to in (iv) below. In any such case, the Option may be exercised only as to the shares as to which the Option had become exercisable on or before the date of the Participant’s
retirement. 
 (iii) If the Participant becomes disabled (as determined pursuant to the Company’s Long-Term Disability Plan or any
successor plan), during the Option Period while still employed, or within the three-month period referred to in subsection 7.2(d)(v) below, or within the 36-month period referred to in subsection 7.2(d)(ii) above, the Option may be exercised by the
Participant or by his or her guardian or legal representative, within twelve months following the Participant’s disability, or within the 36-month period referred to in subsection 7.2(d)(ii) above if applicable and if longer (provided that such
exercise must occur within the Option Period), but not thereafter. In the event of the Participant’s death during such twelve-month period, each Option may be exercised by those entitled to do so in the manner referred to in subsection
7.2(d)(iv) below. In any such case, the Option may be exercised only as to the shares of Stock as to which the Option had become exercisable on or before the date of the Participant’s disability. 

  
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 (iv) In the event of the Participant’s death while still employed by the Company, each
Option of the deceased Participant may be exercised by those entitled to do so under the Participant’s will or under the laws of descent and distribution or as otherwise provided in Section 9.2 within twelve months following the
Participant’s death (provided that in any event such exercise must occur within the Option Period), but not thereafter, as to all shares of Stock which are subject to such Option, including each 25-percent increment of the Option, if any, which
has not yet become exercisable at the time of the Participant’s death. In the event of the Participant’s death within the 36-month period referred to in subsection 7.2(d)(ii) above or within the twelve-month period referred to in
subsection 7.2(d)(iii) above, each Option of the deceased Participant that is exercisable at the time of death may be exercised by those entitled to do so under the Participant’s will or under the laws of descent and distribution or as
otherwise provided in Section 9.2 within twelve months following the Participant’s death or within the 36-month period referred to in subsection 7.2(d)(ii) above, if applicable and if longer (provided that in any event such exercise must
occur within the Option Period). The provisions of this paragraph (iv) of subsection 7.2(d) shall be applicable to each Stock Option Agreement as if set forth therein word for word. Each Stock Option Agreement executed by the Company prior to
the adoption of this provision shall be deemed amended to include the provisions of this paragraph and all Options granted pursuant to such Stock Option Agreements shall be exercisable as provided herein. 

(v) If the employment of the Participant by the Company is terminated (which for this purpose means that the Participant is no longer employed
by the Company or by an Affiliated Corporation) within the Option Period for any reason other than cause, the Participant’s retirement on or after attaining age 60, or the Participant’s disability or death, the Option may be exercised by
the Participant within three months following the date of such termination (provided that such exercise must occur within the Option Period), but not thereafter. In any such case, the Option may be exercised only as to the shares as to which the
Option had become exercisable on or before the date of termination of the Participant’s employment. 
 (vi) Notwithstanding the
provisions of Section 7.2(d) of the Plan to the contrary, for purposes of the Options, a Participant’s employment shall be deemed to continue with the Company during the Participant’s period of continuous employment by Fieldwood
Energy LLC or any business while it is treated as a single employer with Fieldwood Energy LLC pursuant to Code §414(b), §414(c), §414(m), or §414(o) (collectively “Fieldwood”) commencing on the date such Participant is
first employed by Fieldwood in connection with the sale of certain assets pursuant to the Purchase and Sale Agreement by and among Apache Corporation, Apache Shelf, Inc., and Apache Deepwater LLC, as

  
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Sellers, and Fieldwood Energy LLC, as Buyer, and GOM Shelf LLC, dated July 18, 2013, and shall be deemed to cease with the Company on the date of termination of the Participant’s
employment with Fieldwood for any reason. The Participant shall immediately notify the Company of his or her termination of employment with Fieldwood and the reason for such termination (termination for cause, disability, retirement after age 60, or
termination for a reason other than the preceding reasons). If a Participant fails to timely notify the Company of the Participant’s termination of employment with Fieldwood, and such failure to timely notify allows an exercise of any Options
hereunder to occur, which exercise of Options would have been forfeited if the notification of termination had been delivered timely, then the Participant must immediately return to the Company all shares received on exercise of such Options (except
shares sold for fair market value prior to their return to the Company) and, if any of such shares have been sold, pay to the Company the amount by which the gross sales price of such shares exceeded the exercise price of the Options. 

(e) Transferability. Each Stock Option Agreement shall provide that the Option granted therein is not transferable by the Participant
except by will or pursuant to the laws of descent and distribution or as otherwise provided in Section 9.2, and that such Option is exercisable during the Participant’s lifetime only by him or her, or in the event of the Participant’s
disability or incapacity, by his or her guardian or legal representative. 
 (f) Agreement to Continue in Employment. Each Stock
Option Agreement shall contain the Participant’s agreement to remain in the employment of the Company, at the pleasure of the Company, for a continuous period of at least one year after the date of such Stock Option Agreement, at the salary
rate in effect on the date of such agreement or at such changed rate as may be fixed, from time to time, by the Company. Termination of the Stock Option Agreement and all unvested Options granted under such Stock Option Agreement shall be the
Company’s sole and exclusive remedy for an employee’s breach of this Section 7.2(f). 
 (g) Exercise, Payments, Etc.

 (i) Each Stock Option Agreement shall provide that the method for exercising the Option granted therein shall be by delivery to the Office
of the Secretary of the Company or to the Administrative Agent of written notice specifying the number of shares of Stock with respect to which such Option is exercised and payment to the Company of the aggregate Option Price. Such notice shall be
in a form satisfactory to the Committee and shall specify the particular Options (or portions thereof) which are being exercised and the number of shares of Stock with respect to which the Options are being exercised. The Participant’s
obligation to deliver written notice of exercise is satisfied by electronic delivery of such notice through means satisfactory to the Committee 

  
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and prescribed by the Company. The exercise of the Option shall be deemed effective on the date such notice is received by the Office of the Secretary or by the Administrative Agent and payment
is made to the Company of the aggregate Option Price (the “Exercise Date”); however, if payment of the aggregate Option Price is made pursuant to a sale of shares of Stock as contemplated by subsection 7.2(g)(iii)(E) below, the Exercise
Date shall be deemed to be the date of such sale. If requested by the Company, such notice shall contain the Participant’s representation that he or she is purchasing the Stock for investment purposes only and his or her agreement not to sell
any Stock so purchased in any manner that is in violation of the Securities Act of 1933, as amended, or any applicable state law, and such restriction, or notice thereof, shall be placed on the certificates representing the Stock so purchased. The
purchase of such Stock shall take place upon delivery of such notice to the Office of the Secretary of the Company or to the Administrative Agent, at which time the aggregate Option Price shall be paid in full to the Company by any of the methods or
any combination of the methods set forth in subsection 7.2(g)(iii) below. 
 (ii) The shares of Stock to which the Participant is entitled as
a result of the exercise of the Option shall be issued by the Company and (A) delivered by electronic means to an account designated by the Participant, or (B) delivered to the Participant in the form of a properly executed certificate or
certificates representing such shares of Stock. If shares of Stock are used to pay all or part of the aggregate Option Price, the Company shall issue and deliver to the Participant the additional shares of Stock, in excess of the aggregate Option
Price or portion thereof paid using shares of Stock, to which the Participant is entitled as a result of the Option exercise. The Company’s obligation to deliver the shares of Stock to which the Participant is entitled as a result of the
exercise of the Option shall be subject to the payment in full to the Company of the aggregate Option Price and the required tax withholding. 

(iii) The aggregate Option Price shall be paid by any of the following methods or any combination of the following methods: 

(A) in cash, including the wire transfer of funds in U.S. dollars to one of the Company’s bank accounts located in the United States,
with such bank account to be designated from time to time by the Company; 
 (B) by personal, certified or cashier’s check payable in
U.S. dollars to the order of the Company; 
 (C) by delivery to the Company or the Administrative Agent of certificates representing a
number of shares of Stock then owned by the Participant, the aggregate Fair Market Value of which (as of the Exercise Date) is not greater than the aggregate Option Price of the Option being exercised, properly endorsed for transfer to the Company,
provided that the shares of Stock used for this purpose must have been owned by the Participant for a period of at least six months; 

  
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 (D) by certification or attestation to the Company or the Administrative Agent of the
Participant’s ownership (as of the Exercise Date) of a number of shares of Stock, the aggregate Fair Market Value of which (as of the Exercise Date) is not greater than the aggregate Option Price of the Option being exercised, provided that the
shares of Stock used for this purpose have been owned by the Participant for a period of at least six months; or 
 (E) by delivery to the
Company or the Administrative Agent of a properly executed notice of exercise together with irrevocable instructions to a broker to promptly deliver to the Company, by wire transfer or check as noted in subsection 7.2(g)(iii)(A) and (B) above,
the amount of the proceeds of the sale of all or a portion of the Stock or of a loan from the broker to the Participant necessary to pay the aggregate Option Price. 

(iv) For purposes of the Plan, the income resulting from an Option exercise shall be based on the Fair Market Value of the Stock for the
Exercise Date; however, if payment of the aggregate Option Price is made pursuant to a sale of shares of Stock as contemplated by subsection 7.2(g)(iii)(E) hereof, the Fair Market Value shall be deemed to be the per share sale price and the Exercise
Date shall be deemed to be the date of such sale. 
 (h) Date of Grant. An Option shall be considered as having been granted on the
date specified in the grant resolution of the Committee. 
 (i) Tax Withholding. Each Stock Option Agreement shall provide that, upon
exercise of the Option, the Participant shall make appropriate arrangements with the Company to provide for the minimum amount of 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, by payment of such taxes in cash (including wire transfer), by check, or as provided in Section 13.2 hereof. 

(j) Adjustment of Options. Subject to the provisions of Sections 4, 5, 7, 8 and 12 hereof, the Committee may make any adjustment in the
number of shares of Stock covered by, or the terms of an outstanding Option and a subsequent granting of an Option, by amendment or by substitution for an outstanding Option; however, except as provided in Sections 4, 5, 8 and 12 hereof, the
Committee may not adjust the Option Price of any outstanding Option. Such amendment or substitution may result in terms and conditions (including the number of shares of Stock covered, vesting schedule or Option Period) that differ from the terms
and conditions of the original Option. The Committee may not, however, adversely affect the rights of any Participant to previously granted Options without the consent of such Participant. If such action is effected by amendment, the effective date
of such amendment will be the date of grant of the original Option. 

  
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 7.3 Stockholder Privileges. No Participant shall have any rights as a stockholder with respect to any
shares of Stock covered by an Option until the Participant becomes the holder of record of such Stock. Except as provided in Section 4 hereof, no adjustments shall be made for dividends or other distributions or other rights as to which there
is a record date preceding the date on which such Participant becomes the holder of record of such Stock. 
 Section 8 

Change of Control 
 8.1 In
General. In the event of the occurrence of a change of control of the Company, as defined in Section 8.3 hereof, all outstanding Options shall become automatically vested, without further action by the Committee or the Board, so as to make
all such Options fully vested and exercisable as of the date of such change of control. 
 8.2 Limitation on Payments. If the provisions of this
Section 8 would result in the receipt by any Participant of a payment within the meaning of Section 280G or any successor section(s) of the Internal Revenue Code, and the regulations promulgated thereunder, and if the receipt of such
accelerated vesting or payment by any Participant would, in the opinion of independent tax counsel of recognized standing selected by the Company, result in the payment by such Participant of any excise tax provided for in Sections 280G and 4999 or
any successor section(s) of the Internal Revenue Code, then the amount of such accelerated vesting or payment shall be reduced to the extent required, in the opinion of independent tax counsel, to prevent the imposition of such excise tax; provided,
however, that any payment or vesting of any Options shall occur as otherwise provided herein to the fullest extent possible without triggering such excise tax. 

8.3 Definition. For purposes of the Plan, a “change of control” shall mean any of the events specified in the Company’s Income
Continuance Plan or any successor plan which constitute a change of control within the meaning of such plan. 

  
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 Section 9 

Rights of Employees, Participants 

9.1 Employment. Nothing contained in the Plan or in any Option granted under the Plan shall confer upon any Participant any right with respect to the
continuation of his or her employment by the Company or any Affiliated Corporation, or interfere in any way with the right of the Company or any Affiliated Corporation, subject to the terms of any separate employment agreement to the contrary, at
any time, to terminate such employment or to increase or decrease the level of the Participant’s compensation from the level in existence at the time of the grant of an Option. Whether an authorized leave of absence, or absence in military or
government service, shall constitute a termination of employment shall be determined by the Committee at the time. 
 9.2 Nontransferability. No
right or interest of any Participant in an Option granted pursuant to the Plan shall be assignable or transferable during the lifetime of the Participant, either voluntarily or involuntarily, or subjected to any lien, directly or indirectly, by
operation of law, or otherwise, including execution, levy, garnishment, attachment, pledge or bankruptcy. In the event of a Participant’s death, a Participant’s rights and interests in Options shall, to the extent provided in
Section 7 hereof, be transferable by testamentary will or the laws of descent and distribution, or a beneficiary designation that is in a form approved by the Committee and in compliance with the provisions of the Plan, applicable law, and the
applicable Option, and payment of any amounts due under the Plan shall be made to, and exercise of any Options may be made by, the Participant’s designated beneficiary, legal representatives, heirs or legatees, as applicable. If, in the opinion
of the Committee, a person entitled to payments or to exercise rights with respect to the Plan is disabled from caring for his or her affairs because of mental condition, physical condition or age, payment due such person may be made to, and such
rights shall be exercised by, such person’s guardian, conservator or other legal personal representative upon furnishing the Committee with evidence of such status satisfactory to the Committee. 

Section 10 

General Restrictions 
 10.1
Investment Representations. The Company may require a Participant, as a condition of exercising an Option, to give written assurances in substance and form satisfactory to the Company and its counsel to the effect that such person is
acquiring the Stock subject to the Option for his own account for investment and not with any present intention of selling or otherwise distributing the same, and to such other effects as the Company deems necessary or appropriate in order to comply
with federal and applicable state securities laws. 

  
 15 

 10.2 Compliance with Securities Laws. Each Option shall be subject to the requirement that, if at any time
counsel to the Company shall determine that the listing, registration or qualification of the shares of Stock subject to such Option upon any securities exchange or under any state or federal law, or the consent or approval of any governmental or
regulatory body, is necessary as a condition of, or in connection with, the issuance or purchase of shares of Stock thereunder, such Option may not be accepted or exercised in whole or in part unless such listing, registration, qualification,
consent or approval shall have been effected or obtained on conditions acceptable to the Committee. Nothing herein shall be deemed to require the Company to apply for or to obtain such listing, registration, qualification, consent or approval. 

Section 11 

Other Employee Benefits 
 The
amount of any income deemed to be received by a Participant as a result of an Option exercise shall not constitute “earnings” or “compensation” with respect to which any other employee benefits of such Participant are determined
including, without limitation, benefits under any pension, profit sharing, life insurance or salary continuation plan. 
 Section 12

 Plan Amendment, Modification and Termination 

The Board may at any time terminate, and from time to time may amend or modify the Plan provided, however, that no amendment or modification may become
effective without approval of the amendment or modification by the Company’s stockholders if stockholder approval is required to enable the Plan to satisfy any applicable statutory or regulatory requirements unless the Company, on the advice of
counsel, determines that stockholder approval is otherwise necessary or desirable. 
 No amendment, modification or termination of the Plan shall in any
manner adversely affect any Option theretofore granted under the Plan, without the consent of the Participant holding such Option. 
 The Committee shall
have the authority to adopt such modifications, procedures and subplans as may be necessary or desirable to comply with the provisions of the laws (including, but not limited to, tax laws and regulations) of countries other than the United States in
which the Company may operate, so as to assure the viability of the benefits of the Plan to Participants employed in such countries. 

  
 16 

 Section 13 

Withholding 
 13.1 Withholding
Requirement. The Company’s obligations to deliver shares of Stock upon the exercise of an Option shall be subject to the Participant’s satisfaction of all applicable federal, state and local income and other tax withholding
requirements. 
 13.2 Satisfaction of Required Withholding. At the time the Committee grants an Option, it may, in its sole discretion, grant the
Participant an election to pay all such amounts of required tax withholding, or any part thereof: 
 (a) by the delivery to the Company or
the Administrative Agent of a number of shares of Stock then owned by the Participant, the aggregate Fair Market Value of which (as of the Exercise Date) is not greater than the amount required to be withheld, provided that such shares have been
held by the Participant for a period of at least six months; 
 (b) by certification or attestation to the Company or the Administrative
Agent of the Participant’s ownership (as of the Exercise Date) of a number of shares of Stock, the aggregate Fair Market Value of which (as of the Exercise Date) is not greater than the amount required to be withheld, provided that such shares
of Stock have been owned by the Participant for a period of at least six months; or 
 (c) by the Company or the Administrative Agent
withholding from the shares of Stock otherwise issuable to the Participant upon exercise of the Option, a number of shares of Stock, the aggregate Fair Market Value of which (as of the Exercise Date) is not greater than the amount required to be
withheld. Any such elections by Participants to have shares of Stock withheld for this purpose will be subject to the following restrictions: 

(i) all elections shall be made on or prior to the Exercise Date; and 

(ii) all elections shall be irrevocable. 
 13.3
Section 16 Requirements. If the Participant is an officer or director of the Company within the meaning of Section 16 or any successor section(s) of the 1934 Act (“Section 16”), the Participant must satisfy the
requirements of such Section 16 and any applicable rules and regulations thereunder with respect to the use of shares of Stock to satisfy such tax withholding obligation. 

  
 17 

 Section 14 

Requirements of Law 
 14.1
Requirements of Law. The issuance of Stock and the payment of cash pursuant to the Plan shall be subject to all applicable laws, rules and regulations. 

14.2 Federal Securities Laws Requirements. If a Participant is an officer or director of the Company within the meaning of Section 16, Options
granted hereunder shall be subject to all conditions required under Rule 16b-3, or any successor rule(s) promulgated under the 1934 Act, to qualify the Option for any exception from the provisions of Section 16 available under such Rule. Such
conditions are hereby incorporated herein by reference and shall be set forth in the Stock Option Agreement with the Participant which describes the Option. 

14.3 Governing Law. The Plan and all Stock Option Agreements hereunder shall be construed in accordance with and governed by the laws of the State of
Texas. 
 Section 15 

Duration of the Plan 
 The Plan
shall terminate effective as of May 2, 2007, and no Option shall be granted on or after termination date. Any Options outstanding at the time of the Plan termination shall continue to be exercisable in accordance with the Stock Option Agreement
pertaining to each such Option. 
 Dated: September 16, 2013 
  

							
		 		 	APACHE CORPORATION
				
	ATTEST:	 		 		 	
				
	/s/ Cheri L. Peper	 		 	By:	 	/s/ Margery M. Harris
	Cheri L. Peper	 		 		 	Margery M. Harris
	Corporate Secretary	 		 		 	Executive Vice President,
		 		 		 	Human Resources

  
 18EX-10.1

 Exhibit 10.1 

CONFIDENTIAL SEPARATION AGREEMENT AND GENERAL RELEASE 

This Confidential Separation Agreement and General Release (the “Agreement”) sets forth the agreement reached
concerning the continued employment and termination of employment of Andrew McMahon (“Employee”) with AXA Equitable Life Insurance Company including its current and former parents, subsidiaries and affiliates, and its and their respective
current and former successors or predecessors, assigns, representatives, agents, attorneys, shareholders, officers, directors and employees, both individually and in their official capacities (collectively “AXA Equitable”). This Agreement
is subject to approval by the Boards of Directors of AXA Financial Inc. and AXA Equitable Life Insurance Company and will not be effective before such approvals are received. Such approvals will be communicated to Employee as soon as practicable
following the Boards’ decision. 
 1. (a) Employee agrees and acknowledges that Employee will remain employed with AXA
Equitable Life Insurance Company through February 28, 2014 subject to all AXA Equitable practices, policies and standards. Employee’s last day of employment with AXA Equitable will be February 28, 2014 (“Termination Date”).
Employee will continue to be paid Employee’s current salary on a bi-weekly basis through Employee’s Termination Date. 

(b) Employee further acknowledges and agrees that effective September 12, 2013 Employee will resign from any and all
officer and directorships Employee may hold with AXA Equitable Life Insurance Company and/or any of its parents, subsidiaries or affiliates. No later than September 12, 2013, Employee agrees to furnish to the appropriate
individuals and Boards of Directors a separate resignation letter for those officer and directorships. Employee also acknowledges and agrees that all “fringe” benefits Employee currently receives, including but not limited to a car and
driver and a country club membership, will terminate effective September 12, 2013. Notwithstanding the above sentence, Employee will continue to receive financial counseling and tax preparation services from Ayco LP through Employee’s
Termination Date. The value of such services shall be imputed income to Employee. 
 (c) From September 12, 2013
through Termination Date, Employee acknowledges and agrees that Employee will be responsible for effectuating a smooth transition of his present responsibilities as determined by the Chairman and Chief Executive Officer of AXA Equitable Life
Insurance Company, including but not limited to mentoring Kevin Molloy and transitioning issues relating to the retail field organization. 

(d) On January 31, 2014, Employee will be afforded the opportunity to receive continuation of existing participation in
the AXA Equitable Executive Survivor Benefit Plan for a one year period following Employee’s Termination Date, subject to the terms and conditions of that plan which may be amended by AXA Equitable Life Insurance Company at any time in
accordance with 

 Exhibit 10.1 

 

 
that plan’s provisions, in exchange for executing another Confidential Separation Agreement and General Release in substantially the same form as Exhibit A attached hereto. 

(e) Employee agrees and acknowledges that if Employee becomes actively employed by AXA Equitable Life Insurance Company or any
of its parents, subsidiaries or affiliates in a role other than that described in paragraph 1(c) of this Agreement at any time prior to Termination Date, Employee will not be eligible for any of the benefits, opportunities or consideration contained
in this Agreement. 
 2. In consideration for signing this Agreement and in exchange for the promises, covenants and waivers
set forth herein, AXA Equitable will provide Employee the following in addition to the benefits contained in paragraph (1) of this Agreement, provided Employee has not revoked this Agreement as set forth below: 

(a) a short-term incentive compensation (“STIC”) award for 2013 at the targeted amount of $1,800,000, adjusted based
on the actual funding of the 2013 STIC pool; 
 (b) a lump sum payment of $2,450,000, which is equal to 52 weeks of
Employee’s base salary plus Employee’s targeted STIC award for 2014; 
 (c) an additional lump sum payment of
$340,000, which is equal to Employee’s targeted STIC award for 2014, pro-rated for Employee’s service in 2014 plus $40,000; 

(d) an additional lump sum of $1,225,000 which is equal to 6 months of Employee’s salary plus Employee’s pro-rated
targeted STIC award for 2014; and 
 (e) the opportunity to enter into a
14th Edition Associate Agreement with AXA Network, LLC (“14th Edition Agreement”) and a Registered Representative Agreement with AXA
Advisors, LLC (“Registered Representative Agreement”) (collectively “Agent Agreements”) on March 1, 2014, pursuant to their then terms and conditions. If Employee enters into Agent Agreements on March 1, 2014, they will
be in substantially the same forms as Exhibit B attached hereto except for the following modifications: 
  

	 	(i)	 The below language will replace the language contained in Paragraph XIII D of the 14th Edition Agreement: 

“This Agreement also may be terminated at any time at the option of AXA Network for Good Reason, as defined below, by
written notice to the Associate. Such notice will be sufficient if in writing and will be 

 Exhibit 10.1 

 

 
effective the date it is delivered in person or mailed to the Associate’s last known address on file with AXA Network. Termination for Good Reason shall mean termination because the
Associate: 
  

	 	(1)	 engaged in misconduct relating to AXA Network or any of its affiliates; 

 

	 	(2)	 is convicted of, or enters a plea of nolo contedere to, a crime; or 

 

	 	(3)	 fails to comply with the policies, procedures and/or standards of conduct of AXA Network or any of its affiliates.” 

 

	 	(ii)	 The below language will replace the language contained in Paragraph X B of the Registered Representative Agreement: 

“This Agreement also may be terminated at any time at the option of AXA Advisors for Good Reason, as defined below, by
written notice to the Representative. Such notice will be sufficient if in writing and will be effective the date it is delivered in person or mailed to the Representative’s last known address on file with AXA Advisors. Termination for Good
Reason shall mean termination because the Representative: 
  

	 	(1)	 engaged in misconduct relating to AXA Advisors or any of its affiliates; 

 

	 	(2)	 is convicted of, or enters a plea of nolo contedere to, a crime; or 

 

	 	(3)	 fails to comply with the policies, procedures and/or standards of conduct of AXA Advisors or any of its affiliates.” 

All other provisions contained in the then applicable Agent Agreements shall remain unchanged. 

None of the monetary consideration set forth in this paragraph 2 will be provided sooner than Employee’s Termination Date or later than
March 15, 2014. No portion of the monetary payments set forth in this paragraph 2 shall be considered compensation for any AXA Equitable benefit plan or program except that the amounts contained in paragraphs 2 (a) and (b) will be
considered compensation for purposes of retirement benefit accruals under the applicable plan (and any related excess plan) providing for such retirement benefit accruals on Termination Date. All payments made pursuant to this Agreement will be made
less all applicable withholdings and deductions. 

 Exhibit 10.1 

 

 If Employee returns to active employment with AXA Equitable Life Insurance Company or any of
its parents, subsidiaries or affiliates at any time from Termination Date to one year following Termination Date, Employee will be responsible for returning to AXA Equitable Life Insurance Company a pro rata portion of the total amount of the lump
sum payments made to Employee pursuant to paragraph 2 (b), (c) and (d) of this Agreement. The pro rata portion shall be determined by (i) dividing the number of full weeks from Employee’s reemployment date through one year
following Termination Date by 52 and (ii) then multipying the quotient by the total amount of lump sum payments made to Employee pursuant to paragraph 2 (b), (c) and (d) of the Agreement. Employee acknowledges and agrees that, if such
amount is not repaid promptly to AXA Equitable Life Insurance Company following the reemployment date, AXA Equitable Life Insurance Company shall have the right to recover it, including by offsetting amounts of any kind payable to Employee,
Employee’s estate or Employee’s heirs by AXA Equitable Life Insurance Company or any of its affiliates by the amount owed to the extent permitted by applicable law or, if lower, to the extent such offset will not create adverse tax
consequences to you under Internal Revenue Code Section 409A. In the event that any or all of the amount owed is not satisfied by such set-off, Employee or Employee’s estate shall continue to remain responsible for payment of the
outstanding balance.
 3. In consideration of the payment and benefits described above, and for other good and valuable
consideration, Employee hereby releases and forever discharges, and by this instrument releases and forever discharges, AXA Equitable from all debts, obligations, promises, covenants, agreements, contracts, endorsements, bonds, controversies, suits,
actions, causes of action, judgments, damages, expenses, claims or demands, in law or in equity, which Employee ever had, now has, or which may arise in the future, regarding any matter arising on or before the date of Employee’s execution of
this Agreement, including but not limited to all claims (whether known or unknown) regarding Employee’s employment with or termination of employment from AXA Equitable, any contract (express or implied), any claim for equitable relief or
recovery of punitive, compensatory, or other damages or monies, attorneys’ fees, any tort, and all claims for alleged discrimination based upon age, race, color, sex, sexual orientation, marital status, religion, national origin, handicap,
genetic information, disability, or retaliation, including any claim, asserted or unasserted, which could arise under Title VII of the Civil Rights Act of 1964; the Equal Pay Act of 1963; the Age Discrimination in Employment Act of 1967
(“ADEA”); the Older Workers Benefit Protection Act of 1990; the Americans with Disabilities Act of 1990; the Civil Rights Act of 1866, 42 U.S.C. § 1981; the Employee Retirement Income Security Act of 1974; the Family and Medical Leave
Act of 1993; the Civil Rights Act of 1991; the Worker Adjustment and Retraining Notification Act of 1988; the Genetic Information Nondiscrimination Act of 2008; the Pregnancy Discrimination Act; the Uniformed Services Employment and Reemployment
Rights Act; the New York State Human Rights Law; the New York City Human Rights Law; and any other federal, state or local laws, rules or regulations, whether equal employment opportunity laws, rules or regulations or otherwise, or any right under
any AXA Equitable retirement or welfare 

 Exhibit 10.1 

 

 
plan or any AXA or AXA Financial equity plan; provided, however, that this release does not apply to any vested benefits which Employee may have. Such benefits shall be governed by
the terms and conditions of the applicable plan documents which AXA Equitable reserves the right to amend, modify or terminate in its sole discretion. In addition, this release does not apply to any AXA Equitable product(s) Employee may own. This
Agreement may not be cited as, and does not constitute an admission by AXA Equitable of, any violation of any such law or legal obligation with respect to any aspect of Employee’s employment or termination therefrom. 

4. Employee represents, warrants and agrees that Employee has not filed any lawsuits or arbitrations against AXA Equitable, or
filed or caused to be filed any claims, charges or complaints against AXA Equitable in any administrative, judicial, arbitral or other forum, including any charges or complaints against AXA Equitable with any international, federal, state or local
agency charged with the enforcement of any law or any self-regulatory organization, and that Employee is not aware of any factual or legal basis for any legitimate claim that AXA Equitable is in violation of any whistleblower, corporate
compliance, or other regulatory obligation of AXA Equitable under international, federal, state or local law, rule or AXA Equitable policy. Employee further represents, warrants and agrees that if Employee was ever aware of any such basis for a
legitimate claim against AXA Equitable, Employee informed AXA Equitable of same. To the extent any such action may be brought by a third party, Employee expressly waives any claim to any form of monetary or other damages, or any form of
recovery or relief in connection with any such action. Nothing in this Agreement shall prevent Employee (or Employee’s attorneys) from (i) commencing an action or proceeding to enforce this Agreement, or (ii) exercising
Employee’s right under the Older Workers Benefit Protection Act of 1990. 
 5. Employee represents, warrants and
acknowledges that AXA Equitable owes Employee no wages, commissions, bonuses, sick pay, personal leave pay, severance pay, notice pay, vacation pay, or other compensation or benefits or payments or form of remuneration of any kind or nature, other
than that specifically provided for in this Agreement, and, if applicable, any AXA or AXA Financial equity plan. 
 6.
Employee agrees that Employee will not disparage or criticize AXA Equitable, or issue any communication, written or otherwise, that reflects adversely on or encourages any adverse action against AXA Equitable, except if testifying truthfully under
oath pursuant to any lawful court order or subpoena or otherwise responding to or providing disclosures required by law. 

7. Employee agrees not to disclose the terms, contents or execution of this Agreement, the claims that have been or could have
been raised against AXA Equitable, or the facts and circumstances underlying this Agreement, except in the following circumstances: 

(a) Employee may disclose the terms of this Agreement to Employee’s immediate family, so long as such family member
agrees to be bound by the confidential nature of this Agreement; 

 Exhibit 10.1 

 

 (b) Employee may disclose the terms of this Agreement to
(i) Employee’s financial and tax advisors so long as such financial and tax advisors agree in writing to be bound by the confidential nature of this Agreement, (ii) taxing authorities if requested by such authorities and so long as
they are advised in writing of the confidential nature of this Agreement, or (iii) Employee’s legal counsel; and 

(c) Pursuant to the order of a court or governmental agency of competent jurisdiction, or for purposes of securing enforcement
of the terms and conditions of this Agreement. 
 (d) Any non-disclosure provision in this Agreement does not prohibit or
restrict Employee (or Employee’s attorneys) from responding to any inquiry, or providing testimony, about this Agreement or its underlying facts and circumstances by, or before, the Securities and Exchange Commission, FINRA, or any other
self-regulatory organization or any other federal or state regulatory or administrative agency or authority. 
 8. Employee
agrees that Employee will reasonably assist and cooperate with AXA Equitable in connection with the defense or prosecution of any claim that may be made against or by AXA Equitable, or in connection with any ongoing or future investigation or
dispute or claim of any kind involving AXA Equitable, including any proceeding before any arbitral, administrative, judicial, legislative, or other body or agency, including preparing for and testifying in any proceeding to the extent such claims,
investigations or proceedings relate to services performed or required to be performed by Employee, pertinent knowledge possessed by Employee, or any act or omission by Employee. Employee further agrees to perform all acts and execute and deliver
any documents that may be reasonably necessary to carry out the provisions of this paragraph. Upon submission of appropriate written documentation, AXA Equitable shall reimburse Employee for reasonable, pre-approved expenses incurred in carrying out
the provisions of this paragraph. 
 9. This Agreement constitutes the entire agreement between AXA Equitable and Employee
with respect to the subject matter herein, and supersedes and cancels all prior and contemporaneous written and oral agreements, if any, between AXA Equitable and Employee with respect to the subject matter herein. Employee affirms that, in entering
into this Agreement, Employee is not relying upon any oral or written promise or statement made by anyone at any time on behalf of AXA Equitable. 

10. This Agreement is binding upon Employee and Employee’s successors, assigns, heirs, executors, administrators and
legal representatives. 
 11. Employee acknowledges that during Employee’s employment with AXA Equitable Life Insurance
Company and during the term of any Agents Agreement, Employee had and will have access to proprietary and confidential information, including without limitation product design and pricing, retail and wholesale distribution and
confidential customer and employee information. As a result, Employee acknowledges and agrees that for 12 months following Termination Date: 

(a) Unless Employee receives prior written authorization from the Chairman and Chief Executive Officer of AXA Equitable Life
Insurance Company, Employee shall not provide services, in any capacity, whether as an employee, consultant, independent contractor, principal, agent, owner, partner, shareholder, officer or director, or otherwise, for any entity that conducts
business competitive to that of AXA Equitable Life Insurance Company or its parents, affiliates or subsidiaries to the extent they engage in the life insurance and annuity business with respect to product design, pricing, hedging, issuance and/or
retail and wholesale distribution of life insurance or variable annuity products. Nothing in this paragraph 11(a) shall prevent Employee from performing any authorized duties under Agent Agreements. 

 Exhibit 10.1 

 

 (b) Employee shall not directly or indirectly solicit the business of any
customer or prospective customer of the AXA Equitable Life Insurance Company or any of its parents, affiliates or subsidiaries for any purpose other than to obtain, maintain and/or service the customer’s business for AXA Equitable Life
Insurance Company or any of its parents, affiliates or subsidiaries. Notwithstanding the foregoing, Employee shall not be precluded from soliciting business from any customer or prospective customer of AXA Equitable Life Insurance Company or any of
its parents, affiliates or subsidiaries who is an existing customer of a non-competitive business with AXA Equitable Life Insurance Company or its parents, affiliates or subsidiaries to the extent they engage in the life insurance and annuity
business. 
 (c) Employee shall not directly or indirectly, recruit, solicit or hire any person who is then employed by or
associated with AXA Equitable Life Insurance Company or any of its parents, affiliates or subsidiaries. Notwithstanding the foregoing, Employee shall not be prevented from hiring any such person who responds to a general non-targeted advertisement
for employment. 
 The provisions of this paragraph shall survive the termination of this Agreement and/or any Agent Agreements for any
reason. 
 12. If any of the provisions, terms or clauses of this Agreement is declared illegal, unenforceable or
ineffective in a legal forum, those provisions, terms and clauses shall be deemed severable, such that all other provisions, terms and clauses of this Agreement shall remain valid and binding upon both parties. 

13. Without detracting in any respect from any other provision of this Agreement: 

(a) Employee, in consideration of the payment and benefits provided to Employee as described in paragraph 2 of this Agreement,
agrees and acknowledges that this Agreement constitutes a knowing and voluntary waiver of all rights or claims Employee has or may have against AXA Equitable as set forth herein, 

 Exhibit 10.1 

 

 
including, but not limited to, all rights or claims arising under the ADEA, as amended, including, but not limited to, if applicable all claims of age discrimination in employment and all claims
of retaliation in violation of the ADEA; and Employee has no physical or mental impairment of any kind that has interfered with Employee’s ability to read and understand the meaning of this Agreement or its terms, and that Employee is not
acting under the influence of any medication or mind-altering chemical of any type in entering into this Agreement. 
 (b)
Employee understands that, by entering into this Agreement, Employee does not waive rights or claims that may arise after the date of Employee’s execution of this Agreement, including without limitation any rights or claims that Employee may
have to secure enforcement of the terms and conditions of this Agreement. 
 (c) Employee agrees and acknowledges that the
consideration provided to Employee under this Agreement is in addition to anything of value to which Employee is already entitled. 

(d) AXA Equitable hereby advises Employee to consult with an attorney prior to executing this Agreement. 

(e) Employee acknowledges that Employee was informed that Employee had at least twenty-one (21) days in which to review
and consider this Agreement and to consult with an attorney regarding the terms and effect of this Agreement. 
 14.
Employee may revoke this Agreement within seven (7) days from the date Employee signs this Agreement, in which case this Agreement shall be null and void and of no force or effect on either AXA Equitable or Employee. Any revocation must be in
writing and received by AXA Equitable by 5:00 p.m. on the seventh day after this Agreement is executed by Employee. Such revocation must be sent to Rino Piazzolla, Senior Executive Vice President and Chief HR Officer, AXA Equitable, 1290 Avenue of
the Americas, New York, New York 10104. 
 15. This Agreement may not be changed or altered, except by a writing signed by
an authorized executive officer of AXA Equitable and Employee. The laws of the State of New York will apply to any dispute concerning it. 

16. Employee understands and agrees that the terms set out in this Agreement, including, but not limited to, the
confidentiality provisions, shall survive the signing of this Agreement and receipt of benefits hereunder. 

 Exhibit 10.1 

 

 PLEASE READ CAREFULLY. THIS AGREEMENT HAS IMPORTANT LEGAL CONSEQUENCES. 

EMPLOYEE EXPRESSLY ACKNOWLEDGES, REPRESENTS, AND WARRANTS THAT EMPLOYEE HAS READ THIS AGREEMENT CAREFULLY; THAT EMPLOYEE FULLY UNDERSTANDS THE
TERMS, CONDITIONS, AND SIGNIFICANCE OF THIS AGREEMENT; THAT AXA EQUITABLE HAS ADVISED EMPLOYEE TO CONSULT WITH AN ATTORNEY CONCERNING THIS AGREEMENT; THAT EMPLOYEE HAS HAD A FULL OPPORTUNITY TO REVIEW THIS AGREEMENT WITH AN ATTORNEY; THAT EMPLOYEE
UNDERSTANDS THAT THIS AGREEMENT HAS BINDING LEGAL EFFECT; AND THAT EMPLOYEE HAS EXECUTED THIS AGREEMENT FREELY, KNOWINGLY AND VOLUNTARILY. 
  

							
	 Date:
	 	 9/5/2013
	 		 	 /s/ Andrew McMahon

				
		 		 		 	 Andrew McMahon

 On this 5th day of September 2013, before me personally came Andrew McMahon, to me known to be the individual
described in the foregoing instrument, who executed the foregoing instrument in my presence, and who duly acknowledged to me that Employee executed the same. 

 

	
	 /s/ Francesca Divone

	 Notary Public

  

													
		 		 		 		 	 AXA Equitable Life Insurance Company

						
	 Date:
	 	 9/5/2013
	 		 		 	 By:
	 	 /s/ Rino Piazzolla

		 		 		 		 		 	 Name:
	 	 Rino Piazzolla

		 		 		 		 		 	 Title:
	 	 Senior Executive Director and Chief HR Officer

 Employee must sign and return this Agreement to Rino Piazzolla, Senior Executive Vice President and Chief HR
Officer no later than midnight on the 21st day following Employee’s receipt of this Agreement or irrevocably lose the opportunity to receive the consideration detailed herein. Employee received this Agreement on August 15, 2013.

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