Document:

EX-4.7

 Exhibit 4.7 

GLOBAL NOTE 
 7.375% Senior
Notes due 2019 
 THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT
OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE
EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A
SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM,
THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR
DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS MAY
BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

 

			
	CUSIP No. 390067 AB5		$25,000,000

 GREAT LAKES DREDGE & DOCK CORPORATION 

promises to pay to CEDE & CO., or registered assigns, the principal sum of TWENTY-FIVE MILLION Dollars ($25,000,000) on February 1, 2019. 

Interest Payment Dates: February 1 and August 1, commencing August 1, 2015. 

Record Dates: January 15 and July 15. 
 Dated:
[            ], 2015. 

  
 1 

 IN WITNESS WHEREOF, the Company has caused this Note to be signed manually or by facsimile by its
duly authorized officer. 
  

					
	GREAT LAKES DREDGE & DOCK CORPORATION
		
	By:		  

			Name:		Mark W. Marinko
			Title:		Senior Vice President and Chief Financial Officer

  
 2 

			
	 This is one of the Global
 Notes
referred to in the
 within-mentioned Indenture:

	
	WELLS FARGO BANK, NATIONAL ASSOCIATION,
	as Trustee
		
	By:		  

			Authorized Signatory
	  
 Dated
            , 2015

  
 3 

 (Back of Note) 

7.375% Senior Notes due 2019 

Capitalized terms used herein shall have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 

1. Interest. Great Lakes Dredge & Dock Corporation, a Delaware corporation
(“the Company”), promises to pay interest on the principal amount of this Note at 7.375% per annum until maturity and shall pay Additional Interest, if any, as provided in Section 4 of the Registration Rights
Agreement. The Company shall pay interest semi-annually on February 1 and August 1 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each an “Interest Payment Date”).
Interest on the Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from February 1, 2015; provided, however, that
if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding
Interest Payment Date; provided, further, that the first Interest Payment Date shall be August 1, 2015. The Company shall pay interest (including post-petition interest in
any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time at a rate that is 1% per annum in excess of the interest rate then in effect under the Indenture and this Note; it shall pay interest
(including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest, if any (without regard to any applicable grace periods), from time to time at the same rate to the extent
lawful. Interest shall be computed on the basis of a 360-day year of twelve 30-day months. 
 2. Method of
Payment. The Company shall pay interest on the Notes (except defaulted interest) to the Persons in whose name this Note (or one or more Predecessor Notes) is registered at the close of business on the January 15 or July 15 next
preceding the Interest Payment Date, even if such Notes are cancelled after such record date and on or before such Interest Payment Date, except as provided in Section 2.12 of the Indenture with respect to defaulted interest. The Notes shall be
payable as to principal, premium, if any, and interest and Additional Interest, if any, at the office or agency of the Company maintained for such purpose, or, at the option of the Company, payment of interest may be made by check mailed to the
Holders at their addresses set forth in the Security Register; provided, however, that payment by wire transfer of immediately available funds shall be required with respect to
principal of and interest and Additional Interest, if any, and premium, if any, on, all Global Notes and all other Notes the Holders of which shall have provided wire transfer instructions to the Company or the Paying Agent. Such payment shall be in
such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. 

3. Paying Agent and Registrar. Initially, Wells Fargo Bank, National Association, the Trustee under the Indenture,
shall act as Paying Agent and Registrar. The Company may change any Paying Agent or Registrar without notice to any Holder. The Company or any of its Subsidiaries may act in any such capacity. 

  
 4 

 4. Indenture. The Company issued the Notes under an Indenture, dated
as of January 28, 2011 (as originally executed or as it may from time to time be supplemented or amended, the “Indenture”), among the Company, the Guarantors from time to time party thereto and the Trustee. The terms of
the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb). The Notes are subject to all such terms, and Holders
are referred to the Indenture and such Act for a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. The Notes are
obligations of the Company unlimited in aggregate principal amount. 
 5. Optional Redemption. 

(a) The Company may redeem all or any portion of the Notes, at once or over time, after giving the required notice under the Indenture. The
Notes may be redeemed at the redemption prices (expressed as percentages of principal amount) set forth below, in cash, plus accrued and unpaid interest and Additional Interest, if any, to the applicable Redemption Date (subject to the right of
Holders of record on the relevant Regular Record Date to receive interest due on the relevant Interest Payment Date), if redeemed during the twelve-month period commencing on February 1 of the years indicated below: 

 

					
	 Year
	  	Percentage	 
	 2015
	  	 	103.688	% 
	 2016
	  	 	101.844	% 
	 2017 and thereafter
	  	 	100.000	% 

 (b) Any prepayment pursuant to this paragraph shall be made pursuant to the provisions of Sections 3.01
through 3.06 of the Indenture. 
 6. Mandatory Redemption. Except as set forth in Sections 4.12 and 4.17 of
the Indenture, the Company shall not be required to make mandatory redemption or sinking fund payments with respect to the Notes. 

7. Repurchase at Option of Holder. 

(a) Upon the occurrence of a Change of Control, each Holder shall have the right to require the Company to repurchase all or any part (equal
to $2,000 or an integral multiple of $1,000 in excess thereof) of such Holder’s Notes (a “Change of Control Offer”) at a purchase price in cash equal to 101% of the aggregate principal amount of the Notes
repurchased, plus accrued and unpaid interest and Additional Interest, if any, on the Notes repurchased, to the Purchase Date (subject to the right of Holders of record on the relevant Regular Record Date to receive interest due on the relevant
Interest Payment Date). 
 (b) When the aggregate amount of Excess Proceeds from Asset Sales exceeds $20.0 million, the Company will be
required to make an offer to all Holders of Notes (an “Asset Sale Offer”) to purchase the maximum principal amount of Notes and, if the Company is required to do so under the terms of any other Indebtedness that is
pari passu with the Notes, such other Indebtedness on a pro rata basis with the Notes, that may be purchased out of the 

  
 5 

 
Excess Proceeds, at an offer price in cash in an amount equal to 100% of the principal amount of the Notes plus accrued and unpaid interest and Additional Interest thereon, if any, to the date of
repurchase, in accordance with the procedures set forth in the Indenture. To the extent that the aggregate amount of Notes (including Additional Notes) and other pari passu Indebtedness tendered pursuant to an Asset Sale Offer is less
than the Excess Proceeds, the Company (or any Restricted Subsidiary) may use such deficiency for any purpose not prohibited by the Indenture. If the aggregate principal amount of Notes and other pari passu Indebtedness tendered by
holders thereof exceeds the amount of Excess Proceeds, the Trustee shall, subject to Applicable Procedures, select the Notes and such other pari passu Indebtedness to be purchased on a pro rata basis. Holders of Notes that
are the subject of an offer to purchase will receive an Asset Sale Offer from the Company prior to any related purchase date and may elect to have such Notes purchased by completing the form entitled “Option of Holder to Elect Purchase” on
the reverse of the Notes. 
 8. Notice of Redemption. Notice of redemption shall be mailed at least 30 days
but not more than 60 days before the Redemption Date to each Holder whose Notes are to be redeemed at its registered address. Notes in denominations larger than $2,000 may be redeemed in part but only in the amount of $2,000 or whole multiples
of $1,000 in excess thereof, unless all of the Notes held by a Holder are to be redeemed. On and after the Redemption Date interest ceases to accrue on Notes or portions thereof called for redemption. 

9. Denominations, Transfer, Exchange. The Notes are in registered form
without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof. This Note shall represent the aggregate principal amount of outstanding Notes from time to time endorsed hereon and the aggregate principal amount of
Notes represented hereby may from time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the
Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and the Company may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Company need not exchange
or register the transfer of any Note or portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed in part. Also, the Company need not exchange or register the transfer of any Notes for a period of
15 days before a selection of Notes to be redeemed or during the period between a Regular Record Date and the corresponding Interest Payment Date. 

10. Persons Deemed Owners. The registered Holder of a Note shall be treated as its owner for all purposes. 

11. Amendment, Supplement and Waiver. Subject to certain exceptions, the Company and the Trustee may amend
or supplement the Indenture or the Notes with the consent of the Holders of a majority in aggregate principal amount of the then outstanding Notes, including Additional Notes, if any, voting as a single class (including consents obtained in
connection with a purchase of or tender offer or exchange offer for the Notes), and, subject to Sections 6.04 and 6.07 of the Indenture, any existing Default or Event of Default (except a continuing Default or Event of Default in the payment of
principal, premium, if any, interest or Additional Interest, if any, on the Notes) or compliance with any provision of the Indenture or 

  
 6 

 
the Notes (except for certain covenants and provisions of the Indenture which cannot be amended without the consent of each Holder) may be waived with the consent of the Holders of a majority in
aggregate principal amount of the then outstanding Notes, including Additional Notes, if any, then outstanding voting as a single class (including consents obtained in connection with a purchase of or tender offer or exchange offer for the Notes).
Without the consent of any Holder, the Company and the Trustee may amend or supplement the Indenture or the Notes to cure any ambiguity, defect or inconsistency, to provide for uncertificated notes in addition to or in place of certificated notes,
to provide for the assumption of the Company’s or a Guarantor’s obligations to Holders of Notes in the case of a merger or consolidation or sale of all or substantially all of the Company’s assets, to provide for the issuance of
Additional Notes in accordance with the provisions set forth in the Indenture on the date of the Indenture, to make any change that would provide any additional rights or benefits to the Holders of Notes or that does not adversely affect the legal
rights under the Indenture of any Holder, to comply with requirements of the Commission in order to effect or maintain the qualification of the Indenture under the Trust Indenture Act, to allow any Guarantor to guarantee the Notes, or to conform any
provision of the Indenture to the “Description of Notes” contained in the Offering Memorandum. 
 12. Defaults
and Remedies. Each of the following is an Event of Default under the Indenture: (i) default for 30 days in the payment when due of interest on, or Additional Interest with respect to, the Notes; (ii) default in payment when
due of the principal of or premium, if any, on the Notes; (iii) failure by the Company or any of its Restricted Subsidiaries to comply with Section 4.17 of the Indenture; (iv) failure by the Company or any of its Restricted
Subsidiaries for 60 days after notice by the Trustee or by the Holders of at least 25% in principal amount of Notes then outstanding to comply with any of its other agreements in the Indenture or the Notes; (v) default under any mortgage,
indenture or instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Company or any of its Restricted Subsidiaries (or the payment of which is guaranteed by the Company or
any of its Restricted Subsidiaries) whether the Indebtedness or guarantee now exists, or is created after the Issue Date, which default: (A) is caused by a failure to pay principal on such Indebtedness at final stated maturity prior to the
expiration of the grace period provided in the Indebtedness on the date of the default (a “Payment Default”) or (B) results in the acceleration of the Indebtedness prior to its stated maturity and, in each case, the
principal amount of any Indebtedness, together with the principal amount of any other such Indebtedness under which there has been a Payment Default or the maturity of which has been so accelerated (after giving effect to any applicable grace
period), aggregates $20.0 million or more; (vi) failure by the Company or any of its Restricted Subsidiaries to pay final judgments aggregating in excess of $20.0 million (net of any amount with respect to which a reputable insurance
company with assets over $100.0 million has acknowledged liability in writing), which judgments are not paid, discharged or stayed for a period of 60 days after their entry; (vii) certain events of bankruptcy, insolvency or
reorganization affecting the Company or any of its Significant Subsidiaries; and (viii) except as permitted by the Indenture, any Guarantee of any Significant Subsidiary (or group of Guarantors that, collectively, would be a Significant
Subsidiary) shall be held in any judicial proceeding to be unenforceable or invalid or shall cease for any reason to be in full force and effect or any Guarantor that is a Significant Subsidiary (or group of Guarantors that, collectively, would be a
Significant Subsidiary), or any Person acting on behalf of any Guarantor that is a Significant Subsidiary (or group of Guarantors that, collectively, would be a Significant Subsidiary), shall deny or disaffirm its obligations under its
Guarantee. 

  
 7 

 If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount
of the then outstanding Notes may declare all the Notes to be due and payable. Upon a declaration of acceleration, principal premium, if any, Additional Interest, if any, and interest on the Notes will become due and payable. Notwithstanding the
foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency described in the Indenture, all outstanding Notes shall become due and payable without further action or notice. Holders may not enforce the
Indenture or the Notes except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Notes may direct the Trustee in its exercise of any trust or power vested in it
by the Indenture. The Trustee may withhold from Holders notice of any continuing Default or Event of Default (except a Default or Event of Default relating to the payment of principal or interest or Additional Interest) if it determines that
withholding notice is in their interest. The Holders of at least a majority in aggregate principal amount of the Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Notes waive any existing Default or Event of
Default and its consequences under the Indenture except a continuing Default or Event of Default in (i) the payment of interest or Additional Interest on, or the principal of, the Notes and (ii) in respect of a covenant or provision which
under the Indenture cannot be modified or amended without the consent of the Holder of each Note affected by such modification or amendment. Upon any waiver of a Default or Event of Default, such Default shall cease to exist, and any Event of
Default arising therefrom shall be deemed cured for every purpose of the Indenture but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. The Company is required to deliver to
the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default. 

13. Trustee Dealings with Company. Subject to certain limitations, the Trustee in its individual or any other
capacity may become the owner or pledgee of Notes and may otherwise deal with the Company or any Affiliate of the Company with the same rights it would have if it were not Trustee. 

14. No Recourse Against Others. No past, present or future director, officer, employee, incorporator or
stockholder of the Company or of any Guarantor, as such, shall have any liability for any obligations of the Company or of the Guarantors under the Indenture, the Notes, the Guarantees or for any claim based on, in respect of, or by reason of, such
obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. 
 15.
Authentication. This Note shall not be valid until authenticated by the manual signature of the Trustee or an authenticating agent. 

16. Abbreviations. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (=
tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

17. Additional Rights of Holders of Restricted Global Notes and Restricted Definitive Notes. In addition to the rights provided
to Holders of Notes under the Indenture, 

  
 8 

 
Holders of Restricted Global Notes and Restricted Definitive Notes that are Initial Notes shall have all the rights set forth in the Registration Rights Agreement, dated as of the Issue Date,
among the Company, the Guarantors from time to time party thereto and the initial purchasers named therein or, in the case of Additional Notes, Holders of Restricted Global Notes and Restricted Definitive Notes shall have the rights set forth in one
or more Registration Rights Agreements, if any, among the Company and the other parties thereto, relating to rights given by the Company to the purchasers of any Additional Notes. 

18. CUSIP Numbers. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification
Procedures, the Company has caused CUSIP numbers to be printed on the Notes and has directed the Trustee to use CUSIP numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of such numbers either
as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 

19. Governing Law. The internal law of the State of New York shall govern and be used to construe this Note
without giving effect to applicable principles of conflicts of law to the extent that the application of the laws of another jurisdiction would be required thereby. 

The Company shall furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to: 

Great Lakes Dredge & Dock Corporation 

2122 York Road 
 Oak Brook,
Illinois 60523 
 Attention: Chief Financial Officer 

  
 9 

 Option of Holder to Elect Purchase 

If you want to elect to have this Note purchased by the Company pursuant to Section 4.12 or 4.17 of the Indenture, check the box below: 

 

	 ̈	Section 4.12 

  

	 ̈	Section 4.17 

 If you want to elect to have only part of the Note purchased by the Company pursuant to
Section 4.12 or Section 4.17 of the Indenture, state the amount you elect to have purchased: $ 
  

							
	Date:				Your Signature:		  

							(Sign exactly as your name appears on the Note)
			
					Tax Identification No.:

  

					
	Signature Guarantee:		  
		
			Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program
(“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.		

  
 10 

 Assignment Form 

To assign this Note, fill in the form below: 
 (I) or
(we) assign and transfer this Note to 
  
  

 
 (Insert assignee’s social
security or other tax I.D. no.) 
  
  

 
 (Print or type assignee’s name,
address and zip code) 
 and irrevocably appoint 
 as agent to
transfer this Note on the books of the Company. The agent may substitute another to act for him. 
  

			
	Date:		  

  

			
	Your Signature:		  

			(Sign exactly as your name appears on the Note)

  

					
	Signature Guarantee:		  
		

  
 11 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part
of another Global Note or Definitive Note for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	  	Amount of decrease in
Principal Amount of
this Global Note	  	Amount of increase in
Principal Amount of
this Global Note	  	Principal Amount of
this Global Note
following such decrease
(or increase)	  	Signature of authorized
signatory of Trustee or
Note Custodian
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  
 12EX-10.1

 Exhibit 10.1 

APACHE CORPORATION 
 2015
EMPLOYEE RELEASE AND SETTLEMENT AGREEMENT 
 The parties to this agreement are APACHE CORPORATION (“Apache”) and
Michael S. Bahorich (“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 June 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 June 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, Apache will pay Employee a lump sum
amount of $1,575,000 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 this agreement becomes effective. 

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, subject to any agreed amendments to said equity plans and award agreements, and the terms of this Agreement. Distribution of restricted
stock units will occur as soon as permissible under Code section 409A. 

  

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

 

	 	•	 	 Prorated vesting of TSR performance awards, based on time in performance period. 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 

  
 -1- 

	 	 
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) 9,891
			
	2013 TSR Goal Achieved	  	12/31/16	  	25% of (i) multiple of Target Amount achieved under 2013 TSR Plan times (ii) 9,891
			
	2013 TSR Goal Achieved	  	12/31/17	  	25% of (i) multiple of Target Amount achieved under 2013 TSR Plan times (ii) 9,891
			
	2014 TSR Goal Achieved	  	12/31/16	  	50% of (i) multiple of Target Amount achieved under 2014 TSR Plan times (ii) 4,161
			
	2014 TSR Goal Achieved	  	12/31/17	  	50% of (i) multiple of Target Amount achieved under 2014 TSR Plan times (ii) 4,161

  

	 	•	 	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 premium rates. Thereafter, the Employee’s premium 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. 

  
 -2- 

 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. 

Employee Resignation: 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. 
 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; 

  

	 	•	 	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; 

  
 -3- 

	 	•	 	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”). 

 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, Employee is, however, releasing and waiving any claim
that he is subject to or covered by any Change of Control provisions other than the continuation of vesting of Apache Corporation equity), 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, (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; (10) Employee’s rights to payment of overrides under previous Apache employee benefit plans and (11) 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 Released 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, financial and tax advisors 

  
 -4- 

 
and will cause Employee’s spouse, attorneys, 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 Released 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 Released 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 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 Released Party. If any Released 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 Released 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 Released 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 Released 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: In the event Apache is or becomes involved in any legal action relating to events which occurred while Employee was
rendering services to Apache or about which Employee possesses any information, Employee agrees to assist, subject to Employee’s “reasonable availability”, in the preparation, prosecution or defense of any case involving Apache,
including without limitation, executing truthful declarations or documents or providing information requested by Apache and attending and/or testifying truthfully at deposition or at trial without the necessity of a subpoena or compensation. All
reasonable travel expenses 

  
 -5- 

 
incurred by you in rendering such assistance will be reimbursed by Apache. Employee’s compliance with the obligations of this paragraph shall not interfere with his future employment or
enterprise, and shall not be so extensive or intrusive that Employee incurs economic damage as a result of his compliance. 

Non-solicitation: Because of the confidential information shared with Employee and in exchange for the payments described herein, for a period
of two years following the Resignation date, Employee, and his assigns, agree not to directly or indirectly solicit any employee of Apache for employment elsewhere (i.e., employment with any person or entity other than Apache). 

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. 

Fees and Costs: If litigation is commenced concerning Employee’s employment, termination of employment or this agreement, the prevailing
party shall be entitled to an award of reasonable attorneys’ fees and expenses, court costs, experts’ fees and expenses, and all other expenses of litigation. 

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. 

  
 -6- 

 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 APRIL 8, 2015. 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. 
 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/ Michael S. Bahorich            
	  		  	 /s/ Margery M. Harris

	        Michael S. Bahorich	  		  	Margery M. Harris
		  		  	Executive Vice President, Human Resources

  
 -7- 

			
	 STATE OF TEXAS
	  	§
		
		  	§
		
	 COUNTY OF HARRIS
	  	§

 The foregoing Employee Release and Settlement Agreement was acknowledged before me this 8th day of April,
2015, by Michael S. Bahorich. 
  

					
	[SEAL]	 		 	 /s/ Heather Cates

		 		 	NOTARY PUBLIC

 My commission expires: July 23, 2016 
  

			
	STATE OF TEXAS	  	§
		
		  	 §

		
	 COUNTY OF HARRIS
	  	§

 The foregoing Employee Release and Settlement Agreement was acknowledged before me this 8th day of April,
2015, by Margery M. Harris, Executive Vice President, Human Resources of Apache Corporation. 
  

					
	[SEAL]	 		 	 /s/ Iliana R. Garcia

		 		 	NOTARY PUBLIC

 My commission expires: April 5, 2017 

  
 -8-

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