Document:

Exhibit 10.9

May 27, 2019
Steven Woolfenden
1483 Pembroke Drive
Oakville, ON L6H 1V6
DELIVERED VIA EMAIL: swoolfenden@gmail.com
RE:      Offer of Employment
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Dear Steven:
I am pleased to provide you with our offer letter of employment with McEwen Mining Inc. (the “Company”), referenced hereto as Schedule “A” as Vice President, Environmental and Community Relations.
Kindly note that your employment is conditional upon you executing and returning a signed copy of this letter and signed/initialed copies of the attached Schedules “A”, “B” and “C” (the “Agreement”) to us no later than May 31st, 2019. In exchange for the covenants contained in the Agreement.
Please ensure you retain a copy of the Agreement for your records.
Steven, I would like to welcome you to the Company and I am looking forward to working with you. I wish you a successful and rewarding career with us.
Sincerely,
/s/ Chris Stewart, P.Eng
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Chris Stewart, P.Eng
President & COO
MCEWEN MINING INC.
I, Steven, acknowledge that I have read, understood and accept this offer and the terms and conditions contained in the attached Schedules (which form the Agreement as defined above) and agree to be bound by the terms and conditions of employment as outlined therein, including those that limit my entitlements, if any, upon the end of my employment with the Company.
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	/s/ Steven Woolfenden
		May 28/19

	Steven Woolfenden
		Date

			
	150 King Street West, Suite 2800, P.O. Box 24. Toronto, Ontario Canada M5H 1J9
Tel: 647.258.0395 Toll Free: 1.866.441.0690 Fax: 647.258.0408
Website: www.mcewenmining.com Email: info@mcewenmining.com

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SCHEDULE “A”
MCEWEN MINING INC.
Terms and Conditions of Employment
The following outlines the terms and conditions of employment with McEwen Mining Inc. (the “Company”).
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	Title
	TITLE OF POSITION

	Initial Reporting Relationship
	Chris Stewart, President & COO

	Effective Date
	TBA

	Location
	Toronto, Ontario

	Status
	Full Time

	Currency
	Unless otherwise specified, all currency in this Agreement shall be in Canadian dollars.

	Base Salary
	$225,000 per annum paid on a bi-weekly basis through direct deposit.

	Stock Options
	You shall receive an initial grant of 150,000 Stock Options vesting as to one third on each of the first, second and third anniversaries of the Effective Date and in accordance with the terms of the Company’s Equity Incentive Plan and Grant Agreement to be issued and priced based on the closing price on the day of issuance.
Future granting of equity or options is at the sole discretion of the Board of Directors.

	Annual Bonus
	You will be entitled to be considered for an annual bonus at the discretion of the Compensation Committee of the Board of Directors of the Company (the “Board”). Your base target annual bonus will be 50% of your base salary. Your annual bonus will be determined based on you achieving personal KPIs and corporate performance objectives and goals as set out annually, in advance, by the President & COO. You can select to have it paid in cash or stock (or a combination of both), pro-rated for the first fiscal year of your employment. If paid in stock, the issuance price and timing of issuance of such stock shall be valued as determined by the Board.
The bonus, if any, will be paid after the public release of the Company’s annual financial statements and has been approved by the CEO and Board of Directors. Any such bonus payment does not form part of your regular compensation and is also not automatic, retroactive or precedent based.
Please note that, subject to the Ontario Employment Standards Act, 2000, as amended from time to time, or its successor legislation (the “ESA”), and to the terms set out in this agreement, you must be actively employed at the time of award to receive any such annual bonus.

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EMPLOYEE INITIALS ______
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	Vacation
	You will be entitled to five (5) weeks of vacation annually, accrued on a monthly basis, to be taken at a time as determined or agreeable to the Company having due regard to its operations. Subject to only the minimum requirements under the ESA, any unused vacation in excess of your statutory minimums that has not been used at the end of the calendar year shall be forfeited and forever lost without further payment by the Company, unless you were required to forego your vacation as directed by the President & COO, due to business demands, in which case, such foregone vacation days, if unused at the end of the fiscal year in which they occurred, shall be paid to you at the end of such fiscal year. You will otherwise be subject to the Company’s vacation policy, as the same may be amended from time to time.

	Benefits
	You shall be entitled to participate in all benefit plans of Company and pension Plan as may be made available to employees of Company from time to time for which you are eligible in accordance with applicable plans and/or insurance contracts. You will receive complete details of all benefits and pension plans as part of your orientation. The Company benefit plan includes an DPSP/RRSP matching contribution of 4% of your salary to CRA yearly maximums.

	Expenses
	The Company shall provide a parking spot for your use, near the Company’s offices in Toronto if required. In addition, while in active employment, the Company shall reimburse you for the reasonable costs associated with a cell phone and your travel to and from the office such as TTC or GO Transit Fees. Such expense reimbursements do not form part of your compensation and shall not be continued following the effective date of termination of your employment for any reason.

	Travel
	As per the requirements of your position, you will be expected to travel to our different locations, as the operations of the business reasonably demand. You agree that risks associated with such travel have been described to you as part of the hiring process and that you voluntarily assume those risks. The Company will continue to provide you with ongoing and reasonable information as it relates to such risks.

	Policies and Standards
	The Company has established a variety of policies and standards, which shall form part of your employment terms with the Company, including the Code of Business Conduct and Ethics, Global Anti-Corruption, Anti-Harassment and the Expense Reimbursement Policy. You agree to be bound by these policies and standards, as amended or otherwise introduced from time to time at the sole discretion of the Company.

	No Obligations to Third Parties
	You hereby represent and warrant to the Company that you are not party to any written or oral agreement with any third party that would restrict your ability to enter into this Agreement or Schedule “C” (the Confidentiality and Intellectual Property Information Agreement) or to perform your obligations hereunder and that you will not, by joining Company, breach any non-disclosure, intellectual property rights, non-competition, non-solicitation or other covenant in favour of any third party.

	Changes to Duties and/or Compensation
	If your duties or compensation should change during the course of your employment with the Company, the validity of this Agreement, including the section regarding “Termination by You With Notice”, “Termination by the Company for Cause” and “Termination by the Company without Cause” will continue in full force and effect.

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EMPLOYEE INITIALS ______
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	Termination by You With Notice
	You may terminate your employment under this Agreement by providing the Company with 60 days’ advance written notice. Subject to any requirements under the ESA, the Company may waive such further notice, or change your assignment, or place of work during such notice of termination, provided such changes are made in good faith and reasonably required, and it shall not constitute a constructive dismissal. Any unvested stock options that have not vested as of the effective date of your written notice (the end of the 60 day notice period), shall be governed by the terms of the applicable stock option plan.

	Termination by the Company With Cause
	The Company may terminate your employment without notice for any of the following reasons, or as specified under the ESA or “Cause” under common law, including: (a) your continued failure to substantially perform your duties as described in Schedule “B”, or otherwise required by the Company; (b) your willful engagement in misconduct which is injurious to the Company, other than business decisions made in good faith; (c) the willful violation by you of the provisions of this Agreement or any material policy, including the Code of Business Conduct and Ethics, Global Anti-Corruption, Anti-Harassment and Expense Reimbursement Policy; (d) dishonesty; (e) you being found guilty of an offence under criminal or quasi criminal legislation that has a reasonably drawn nexus to the workplace which in the Company’s sole determination caused or could cause damage to its reputation; or (f) engaging in an apparent conflict of interest that is not remedied by you within ten (10) business days after the Company provides you with written notice setting out in reasonable detail the alleged conflict of interest. In the event of a termination under this section, the Company shall pay you any unpaid wages earned to the date of termination and any accrued and unpaid vacation pay earned by you during the same calendar year. Except for as may be required under the ESA, the Company shall have no further obligations to you. Any unvested stock options that have not vested as of the date that the notice of termination for cause is provided to you, shall be governed by the terms of the applicable stock option plan.

	Termination by the Company Without Cause
	The Company may terminate your employment without Cause, for any reason other than pursuant to a Change of Control (as defined below), by providing you with the greater of: (a) a lump sum payment equal to twelve (12) months’ base salary (with no annual bonus other than any prorated bonus, at the discretion of the Board, for the year in which the termination occurs) if you are terminated in the first year of employment, and a lump sum payment of twelve (12) months’ base salary plus one (1) additional month for each year of service up to a maximum of eighteen (18) total months of base salary plus the average bonus you received over the prior two years if you are terminated thereafter; or (b) only your minimum entitlement to notice or pay in lieu of notice and statutory severance pay owing to you under the ESA. The lump sum payment will be provided within thirty (30) days of the notice of termination being provided to you by the Company.
In either case of (a) or (b) in this Section, benefits shall be continued for the minimum period required under the ESA and you shall receive your vacation pay as set forth under the ESA. For certainty, any such payments contemplated in this Section shall be inclusive of, and you shall receive, the notice required by the ESA and/or pay in lieu of such notice, or statutory severance pay (if any) owing under the ESA, contract or common law.

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EMPLOYEE INITIALS ______
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	Change of Control” means: any change in the direct or indirect ownership of, or control of the Company as a result of which a person, or group of persons acting jointly or in concert within the meaning of the Securities Act (Ontario) not currently representing ownership of the Company, acquire 51% control of the shares of the Company.
Agreed Severance Sum” means: an amount equal to 18 months’ base salary and target bonus plus benefits (except for any short or long-term disability benefits which shall end following the end of the statutory notice period). Again, as set forth in the section “Termination by the Company Without Cause” you shall receive any vacation and any other minimum entitlements owing to you under the ESA.
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	Change of Control
	If a Change of Control occurs (as defined below) and within 6 months following the date of the Change of Control, you give notice to the Company to terminate your employment on a date within 30 days from the date of notice, the Company shall pay the Agreed Severance Sum (as defined below) to you within one month of the date of termination and any unvested stock options shall become fully vested and exercisable at the end of the 30 day notice period.
“Change of Control” means: any change in the direct or indirect ownership of, or control of the Company as a result of which a person, or group of persons acting jointly or in concert within the meaning of the Securities Act (Ontario) not currently representing ownership of the Company, acquire 51% control of the shares of the Company.
“Agreed Severance Sum” means: an amount equal to 18 months’ base salary and target bonus plus benefits (except for any short or long-term disability benefits which shall end following the end of the statutory notice period). Again, as set forth in the section “Termination by the Company Without Cause” you shall receive any vacation and any other minimum entitlements owing to you under the ESA.

	Release of Claims
	In order to receive any payment in excess of statutory minimums prescribed by the ESA you agree to execute a Release of claims relating to your employment in favour of the Company and its affiliates. For greater certainty, such Release shall not include a release of your continuing rights to insurance coverage and director & officer indemnity or a release of your rights to the compensation and benefits listed in this Agreement.

	Effect of Termination
	You agree that upon cessation of your employment for any reason you shall be deemed to have immediately resigned any position that you may have as an officer, director or employee of the Company together with any other office, position or directorship that you may hold in any of the Company’s related entities. In such event, you shall execute any and all documents appropriate to evidence such resignations. You agree that you are not entitled to any payments in respect of the resignations in addition to those provided herein.

	Compliance with Ontario Legislation
	Nothing in this Agreement is intended to conflict with the ESA. In the event of a conflict between any provision or language in this Agreement and the ESA, such ESA shall govern.
You agree that you have received a copy of the ESA Poster v. 7.0.
The Company provides accommodations for employees with disabilities. If you require a specific accommodation because of a disability or medical need, please contact Kevin Fearn, VP People and Community 1-416-452-2649 or by email at HR@mcewenmining.com before your start date so that, subject to measures constituting undue hardship, the appropriate accommodations can be in place before you begin work.

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EMPLOYEE INITIALS ______
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	Statutory Deductions and Withholdings
	The Company may withhold from any amounts payable to you such federal or provincial taxes and other statutory deductions that are required under applicable law to be so withheld and deducted.

	Severability
	If any court of competent jurisdiction renders any provision or section of this Agreement unenforceable, such unenforceability shall not affect the enforceability of any other provision or section of this Agreement.

	Entire Agreement
	This Agreement, inclusive of the Schedules, supersedes any and all other agreements, whether oral or in writing, between the parties with respect to your employment with the Company, and you hereby acknowledge that you have not been induced from prior employment.

	Governing Law
	This Agreement is governed by the laws of the Province of Ontario and the Employee agrees to the non-exclusive jurisdiction of the courts of the Province of Ontario in relation to this Agreement.

	Confidentiality and Intellectual Property
	As highlighted in the offer letter, attached, this Agreement is conditional upon you agreeing to and abiding by the “Confidentiality and Intellectual Property Information Agreement” attached hereto as Schedule “C.”

	Legal Advice
	By signing below you acknowledge that you have had the opportunity to obtain independent legal advice.

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Remainder of Page Intentionally Left Blank
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EMPLOYEE INITIALS ______
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SCHEDULE “B”
Position Description
SERVICES
Title: Vice President Environmental & Community Relations
Reporting Structure:

SUMMARY
McEwen Mining Inc. is a growing gold and silver producer operating in Argentina, Mexico, Canada and the United States. The Company is publicly traded and listed on the NYSE and TSX.
SUMMARY OF ROLE AND KEY RESPONSIBILITIES
		●	Forster a positive culture within our business. Everyone must work with a mindset that safety is our #1 priority,

		●	Responsible for overseeing all the Environmental and Aboriginal negotiation functions including the development and implementation of strategy for environmental compliance across our international operations and responsible for IBA administration as it relates to our Aboriginal partners.

		●	Develop and maintain a proper schedule of all permits for all operations and projects so that they can be properly tracked and flagged if renewal or updates are required. Should include timelines for obtaining new permits as well.

		●	Ensure that our operations are maintained in good standing with respect to all required operating permits.

		●	Lead the permitting process for all of our operations and projects to ensure we have the best chance of receiving the required permits on time so as not to slow down or impede our progress.

		●	Other such duties or special projects as may be assigned from time to time.

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SKILLS AND QUALIFICATIONS:
		●	Demonstrates professionalism and adheres to best management practices.

		●	Works directly with the President & COO to provide leadership in setting the Company’s strategic and annual operating plan concerning environmental compliance.

		●	Maintains the present IBA and other Aboriginal Agreements and ensures compliance to the tenants of the present agreements.

		●	Directs the permitting process with regulatory agencies across all business units.

		●	Complies and works in accordance with the Quality System (Quality Manual, Standard Operating Procedures)

		●	Persuasive presenter

		●	Good problem solver

Qualifications
Education:
		●	Bachelor’s degree or diploma in Environmental discipline from a recognized University.

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EMPLOYEE INITIALS ______
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SCHEDULE “C”
Employee Covenants
Confidentiality and Intellectual Property Agreement
In consideration of employment with McEwen Mining Inc. (the “Company”), Steven Woolfenden (the “Employee”) and for other payments and benefits provided, the sufficiency of which is acknowledged by the Employee, the Employee agrees and covenants as follows:
		1.
	Employment with the Company will give the Employee access to intellectual and confidential information belonging to the Company, its customers, its suppliers and others (the confidential information is collectively referred to in this Agreement as “Confidential Information”). Confidential Information includes records, data, materials and information and copies thereof and all information relating to any properties, procedures, suppliers, services, personnel, policies and practice, cost and expense structure, business, prospects and business/organizational opportunities and plans of the Company and all financial information and other information or disclosure relating to the business and affairs of the Company. Confidential Information does not include information that at the time it was received was in the public domain, was disclosed to the Employee through no fault of the Employee, was legitimately known to Employee prior to disclosure, or is required by law to be disclosed.

		2.
	The Employee covenants and agrees that the Company shall solely and exclusively own all right, title and interest in, and to, all “Intellectual Property”, which is defined as follows: all intellectual and industrial property and rights therein, whether or not registered or registrable, and all registrations, applications, divisional, extensions, and reissues therefor, including without limitation all works in which copyright subsists or may subsist, derivative works, computer software, moral rights, designs, industrial designs, Confidential Information, as defined above, trademarks and trade names including all goodwill associated therewith, patents, discoveries, improvements, inventions and integrated circuit topographies, specifically developed, created, produced or contributed to by the Employee at any time, pursuant to this Agreement. The Employee hereby assigns all Intellectual Property to the Company. The Employee further agrees to sign and deliver to the Company all documents the Company may reasonably require to confirm or evidence such assignment and the Company’s ownership of the Intellectual Property, when and as requested by the Company. The Employee agrees to waive, and hereby waives, any and all moral rights or rights of a similar nature which the Employee has or in the future may have (including in Intellectual Property which may come into existence after the date of this Agreement) in each jurisdiction throughout the world, to the extent that such rights may be waived in each respective jurisdiction. The Employee further agrees to sign and deliver to the Company all documents the Company may reasonably require to confirm or evidence such waiver of the moral rights, when and as requested by the Company. For clarity, the Employee acknowledges that the Company and its affiliates and licensees have the unlimited right to use (or not to use) the Intellectual Property and all elements thereof, including the right to edit, change, distort, transpose and otherwise modify the Intellectual Property in any manner and to use the Intellectual Property in association with any and all goods, services, products and institutions and the Employee shall waive and hereby waives any right to receive authorship or ownership credit in connection with any use of the Intellectual Property or elements thereof.

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		3.
	The Employee shall, during and after employment, keep all Confidential Information and Proprietary Property confidential and shall not use any of it except for the purpose of carrying out authorized activities on behalf of the Company.

		4.
	The Employee covenants and agrees not to make any unauthorized use whatsoever of or to bring onto the Company’s premises for the purpose of making any unauthorized use whatsoever of any trade secrets, confidential information or intellectual property of any third party, including without limitation any trade-marks or copyrighted materials, during the course of employment. The Employee agrees and represents that employment and the execution of this Agreement do not and will not breach any agreement to which the Employee is currently a party or which currently applies to the Employee.

		5.
	The Employee agrees that the Employee will, if requested from time to time by the Company, execute such further reasonable agreements as to confidentiality and intellectual property rights as the Company’s customers or suppliers reasonably required to protect Confidential Information or Intellectual Property.

		6.
	Regardless of any changes in position, salary or otherwise, including, without limitation, termination of the Engagement, unless otherwise stipulated pursuant to the terms hereof, the Employee will continue to be subject to each of the terms and conditions of this Agreement and any other(s) executed pursuant to the preceding paragraph.

		7.
	The Employee acknowledges that the services provided by the Employee to the Company are unique. The Employee further agrees that irreparable harm will be suffered by the Company in the event of the Employee’s breach or threatened breach of any of their obligations under this Agreement, and that the Company will be entitled to seek, in addition to any other rights and remedies that it may have at law or equity, a temporary or permanent injunction restraining the Employee from engaging in or continuing any such breach hereof. Any claims asserted by the Employee against the Company shall not constitute a defence in any injunction action, application or motion brought against the Employee by the Company. 

		8.
	This Agreement is governed by the laws of the Province of Ontario and the Employee agrees to the non-exclusive jurisdiction of the courts of the Province of Ontario in relation to this Agreement.

		9.
	If any court of competent jurisdiction renders any provision or section of this Agreement unenforceable, such unenforceability shall not affect the enforceability of any other provision or section of this Agreement.

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IN WITNESS WHEREOF the Company has caused this Agreement to be executed as of the___th day of May 2019.
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	SIGNED, SEALED AND DELIVERED
		)
		
	In the presence of:
		)
		/s/ Steven Woolfenden

			)
		Steven Woolfenden

	/s/ 
		)
		
	Witness
		)
		

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EMPLOYEE INITIALS ______
10EX-10.1

 Exhibit 10.1 

EMPLOYMENT AGREEMENT 

This Employment Agreement (this “Agreement”) is effective March 2, 2022 (the “Effective Date”) by and
between Devon Energy Corporation (the “Company”) and Tana K. Cashion (the “Executive”) and supersedes and replaces the Severance Agreement dated March 2, 2010. 

WHEREAS, the parties desire to enter into this Agreement relating to the Company’s employment of the Executive. 

NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS: 

1. Term of Agreement; Defined Terms. 

(a) Term of Agreement. This Agreement shall not have any specific duration and shall continue in full force and effect unless and until
(i) the Executive’s employment is terminated by either party in accordance with Section 3, and (ii) all obligations and liabilities of the parties arising in connection with such termination or otherwise accruing under this
Agreement have been fully satisfied. Notwithstanding any contrary provision in this Agreement, nothing in this Agreement constitutes a guarantee of continued employment but instead provides for certain rights and benefits during the Executive’s
employment with the Company and if such employment terminates. 
 (b) Defined Terms. Capitalized terms used throughout this Agreement
have the meaning ascribed to such terms in Exhibit “A” attached hereto. 
 2. Terms, Conditions, and Benefits of
Employment. 
 (a) Position and Duties. The Executive shall serve as Executive Vice President – Human Resources and
Administration of the Company or in such other substantially equivalent position(s) requested by the Board with the appropriate authority, duties, and responsibilities attendant to such position(s). The Executive shall devote his full working time,
best efforts, abilities, knowledge, and experience to the Company’s business and affairs as necessary to faithfully perform his duties, responsibilities, and authorities under this Agreement. The Executive may, without violating this Agreement,
(i) serve on corporate, civic, charitable, or industry boards or committees, (ii) deliver lectures, fulfill speaking engagements, or teach at educational institutions, or (iii) manage personal investments, so long as such activities
do not significantly interfere with the Executive’s obligations under this Agreement; provided, however, that the Executive shall not serve on the board of any business, hold any other position with any business, or otherwise engage in
any business activity, without the prior written consent of his Supervisor. If the Executive conducted any such activities as of the Effective Date, then the continuation of such activities (or similar activities for the same organization) after the
Effective Date shall be permitted. 
 (b) Annual Base Salary. The Executive shall receive an Annual Base Salary, which may be
increased from time to time in the Company’s discretion but shall not be reduced unless the Company reduces the salaries of similarly situated executives, in which case the Annual Base Salary may be reduced by the same percentage and shall be
restored to its prior level when, and to the same extent as, the Company restores the salaries of such similarly situated executives. Any increase in Annual Base Salary shall not limit or reduce any other obligation owed to the Executive under this
Agreement. 

 (c) Annual Bonus. The Executive shall be eligible to participate in a program in
which he may receive an Annual Bonus. If the Compensation Committee establishes a target for the Annual Bonus as a percentage of the Annual Base Salary, then such target shall not be less than the targets for similarly situated executives of the
Company. Unless otherwise payable under Sections 4(b)(i)(B) or 4(c), the Executive must be actively employed for the entire year upon which the Annual Bonus is based to be eligible to receive such Annual Bonus. 

(d) Incentive Awards. In the Compensation Committee’s discretion, the Company may provide the Executive with annual equity grants,
or cash awards in lieu of such grants, which shall be comparable to the grants or awards made to similarly situated executives of the Company. 

(e) Disability. The Company shall provide the same disability insurance coverage benefits to the Executive as provided to similarly
situated executives of the Company. If, during his employment with the Company, the Executive receives Short-Term Disability Payments, then the Company shall pay the Executive the difference between the Short-Term Disability Payments and the portion
of his then-current Annual Base Salary the Company would have paid him while receiving Short-Term Disability Payments. If the Executive is Disabled during his employment with the Company and otherwise entitled to receive salary and bonus payments
under this Agreement, then any such salary and bonus payments (or such payments in lieu of salary and bonus payments) shall be reduced by the amount of any Short-Term Disability Payments received by the Executive for the period of short-term
disability and any benefits paid for the same period under the Company-provided disability insurance coverage. 
 (f) Expenses. The
Company shall reimburse the Executive for all reasonable business-related expenses incurred and accounted for in accordance with its standard policies and procedures for expense reimbursements and deductibles under Section 162 of the Code. 

(g) Other Employee Benefits. During the term of this Agreement, the Executive shall be entitled to participate in all employee benefit,
welfare, and other plans, practices, policies, and programs applicable to similarly situated executives of the Company, subject to the terms of such plans, practices, policies, and programs as they may be amended from time to time. During any CIC
Period, the Company shall continue to provide the Executive (and the Executive’s dependents, if applicable) with the same level of health (including dental), disability, and life (including accidental death/dismemberment) insurance benefits as
were provided to the Executive (and the Executive’s dependents, if applicable) immediately before the Change in Control upon terms and conditions that are not materially less favorable to the Executive than as in effect immediately before the
Change in Control with respect to each of such health, disability, and life insurance coverages. Beginning on a Change in Control and continuing at all times thereafter, the Company shall not modify the requirements for eligibility for coverage or
the benefits under the Retiree Medical Benefit Plan to adversely affect the Executive’s right to coverage or benefits for the Executive and the Executive’s dependents, if applicable. 

(h) Fringe Benefits. To the extent not otherwise covered under this Agreement, the Company shall provide the Executive with fringe
benefits and perquisites to the same extent and on the same terms as those benefits are provided by the Company from time to time to similarly situated executives of the Company. 

  
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 3. Termination of Employment; Suspensions; Change in Control. 

(a) Termination Upon Death. The Executive’s employment with the Company shall terminate immediately upon the Executive’s
death. 
 (b) Reassignment of Duties and Termination Due to the Executive Becoming Disabled. 

(i) Reassignment. Whether or not the Executive is Disabled, the Company may reassign his duties during any time he has become
physically or mentally incapable of performing his essential job functions with or without reasonable accommodation or job protection as required by law and no such reassignment shall be deemed Good Reason for the Executive to terminate his
employment under Section 3(d).  
 (ii) Termination. If the Executive becomes Disabled, then the Company may give
the Executive written notice of its intent to terminate his employment, in which case such employment shall terminate effective on the thirtieth (30th) day after receipt of such notice as long as the Executive has not been medically released and
returned to full-time duty before such thirtieth (30th) day. 
 (c) Termination by the Company; Cause. The Company may terminate the
Executive’s employment with the Company at any time whether with or without Cause. If the Company terminates the Executive’s employment for Cause, then such termination shall not be effective unless and until the Board (i) provides
reasonable notice and an opportunity to the Executive and his counsel (if applicable) to be heard at a meeting called to discuss the Executive’s employment and (ii) subsequently provides the Executive with a copy of a resolution duly
adopted by at least a two-thirds (2/3) majority of the Board specifying that the Board has determined in good faith that Cause exists for terminating the Executive’s employment. 

(d) Termination by the Executive; Good Reason. The Executive may terminate his employment with the Company at any time whether with or
without Good Reason. If the Executive believes Good Reason exists for terminating his employment, then he shall give the Company written notice of the acts or omissions constituting Good Reason within thirty (30) days after learning of such
acts or omissions constituting Good Reason (the “Good Reason Notice”). No termination of employment for Good Reason shall be effective unless (i) within thirty (30) days after receiving the Good Reason Notice, the Company
fails to either cure such acts or omissions or notify the Executive of the intended method of cure, and (ii) the Executive delivers a Notice of Termination to the Company and subsequently resigns within thirty (30) days after the
Company’s deadline in Section 3(d)(i) expires. Notwithstanding the previous sentence and at the Company’s request, the Executive shall provide services consistent with his then-current authority, duties, and responsibilities for up to
ninety (90) days after having provided the Good Reason Notice to the Company. 
 (e) Paid Suspensions. Notwithstanding any
contrary provision in this Agreement, the Company may suspend the Executive with pay for up to thirty (30) days pending an investigation authorized by the Company or the Board, or pursued by, or at the request of, a governmental authority, to
determine whether the Executive has engaged in acts or omissions constituting Cause. Any such paid suspension shall not constitute Good Reason for the Executive to terminate his employment under Section 3(d). The Executive shall cooperate with
the Company in connection with any such investigation. If the Executive’s employment is subsequently terminated for Cause in connection with such investigation, then the Executive shall repay any amounts paid by the Company to the Executive
during such paid suspension. 
 (f) Effect of a Change in Control on Timing of Termination Date. If the Company terminates the
Executive’s employment other than for Cause or the Executive becoming Disabled and a Change in Control occurs following the Termination Date, then such Change in Control shall be deemed to have occurred immediately prior to the Termination Date
if either (i) the Termination Date occurs following the 

  
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execution of an agreement that provides for a transaction or transactions that, if consummated, constitutes such Change in Control, or (ii) the Executive reasonably demonstrates that such
termination was either (A) requested by a third party who had indicated an intention or taken steps reasonably calculated to effect the Change in Control or who effectuates such Change in Control, or (B) was otherwise in connection with,
or in anticipation of, such Change in Control. 
 (g) Notice of Termination. Any termination of the Executive’s employment by
the Company or by the Executive shall be effective only when communicated by a Notice of Termination given to the other party in accordance with Section 15(d). In the event of a termination by the Executive for Good Reason, a Notice of
Termination shall be effective only if given within the time limit established by Section 3(d). 
 (h) Effect of Termination and
Duties Upon Termination. If, on the Termination Date, the Executive is a member of the board of directors (or any similar governing body) or an officer of the Company or any Affiliate, or holds any other position with the Company or an
Affiliate, then the Executive shall resign and be deemed to have resigned from all such positions as of the Termination Date. Between the date a Notice of Termination is delivered and the Termination Date, the Executive shall continue to perform his
duties under this Agreement and such services for the Company as are necessary and appropriate for a smooth transition to the Executive’s replacement, if any. Notwithstanding the foregoing sentence, the Company may relieve the Executive from
further duties under this Agreement after receiving a Notice of Termination; provided, however, that prior to the Termination Date, the Executive shall continue to be treated as a Company employee for other purposes and the Executive’s
rights to compensation or benefits shall not be reduced by reason of the relief. Upon the Termination Date, the Executive shall return to the Company any keys, credit cards, passes, confidential documents or material, or other property belonging to
the Company, and all writings, files, records, correspondence, notebooks, notes, and other documents and things (including any copies thereof) containing any Confidential Information. 

4. Obligations of the Company Upon Termination. 

(a) Accrued Obligations. Upon any termination of the Executive’s employment for any reason, the Company shall pay the Executive
(i) his accrued Annual Base Salary and accrued, unused vacation through the Termination Date in a lump sum in cash within thirty (30) days after the Termination Date, and (ii) if the Executive is actively employed during the entire
year upon which such Annual Bonus is based under Section 2(c) before the Termination Date, the Annual Bonus at the same time as such bonuses are paid to similarly situated executives of the Company but in no event later than two and one-half (2 1⁄2) months after the end of the taxable year in which any substantial risk of forfeiture with respect to such bonus
lapses (the payments in (i) and (ii) shall be referred to as the “Accrued Obligations”). 
 (b) Good Reason; Other
Than for Cause, Death, or Becoming Disabled. If (x) the Company terminates the Executive’s employment other than for Cause, the Executive’s death, or the Executive becoming Disabled, or (y) the Executive terminates his
employment for Good Reason, then the Company shall, in addition to the payment of the Accrued Obligations, have the following obligations to the Executive: 

(i) the Company shall pay the Executive within thirty (30) days after the Termination Date 

(A) a lump sum in cash equal to three (3) times the sum of: 

(1) the greater of (x) the Executive’s then-current Annual Base Salary, or (y) the Executive’s Annual Base Salary at any
time during the two (2) years before the Termination Date; and 

  
 4 

 (2) the highest Annual Bonus received by the Executive within three (3) years before
the Termination Date (or, if termination occurs during the CIC Period, the greater of (x) the highest Annual Bonus received by the Executive within three (3) years before the Termination Date, and (y) the highest Annual Bonus received
by the Executive within three (3) years before the Change in Control); provided, however, if the Executive’s employment began in the same calendar year as the termination of such employment, then the Annual Bonus amount used for
calculating the lump sum payment due shall be determined by the Compensation Committee in its discretion; and 
 (B) any applicable Prorated
Annual Bonus; and 
 (ii) the Company shall provide the Executive 

(A) for the period allowed under Section 4980B of the Code, with the same level of health and dental insurance benefits for the Executive
(and his dependents, if applicable) upon substantially similar terms and conditions (including contributions required by the Executive for such benefits) as existed immediately before the Termination Date (or, if more favorable to the Executive, as
such benefits and terms and conditions existed immediately before the Change in Control, if applicable); provided, however, if the Executive is not eligible to continue participating in the Company plans providing such benefits (including the
Retiree Medical Benefit Plan), then the Company shall otherwise provide such benefits on the same after-tax basis as if continued participation had been permitted. The Company’s obligations under this
subparagraph (A) shall apply against its coverage obligations under COBRA. Notwithstanding the foregoing, if the Executive becomes eligible to receive health and dental insurance benefits through subsequent employment, then the Executive shall
ensure that a coordination of benefits occurs so that the medical and dental plan of the Executive’s new employer shall be responsible for such medical and dental benefits that are available under the new employer’s plans before any
medical and dental benefits are provided pursuant to this subparagraph (A). This subparagraph (A) shall not limit the ability of the Company or an Affiliate to modify the terms of the Retiree Medical Benefit Plan for all participants who are
similarly situated as the Executive, subject to the restrictions imposed by the plan; 
 (B) for three (3) years following the
Termination Date, with the same level of life insurance benefits upon substantially similar terms and conditions (including contributions required by the Executive for such benefits) as existed immediately before the Termination Date (or, if more
favorable to the Executive, as such benefits and terms and conditions existed immediately before the Change in Control); provided, however, if the Executive is not eligible to continue participating in the Company plans providing such life
insurance benefits, then the Company shall otherwise provide such benefits on the same after-tax death benefit basis as if continued participation had been permitted; and 

(C) within thirty (30) days after the Termination Date, with a payment in an amount equal to eighteen (18) times the monthly COBRA
premium that applies to the Executive (and his dependents if such dependents are then covered by the Company’s medical plans on the Termination Date); and 

(iii) the Company shall pay, or reimburse the Executive, for a reasonable amount of outplacement services from a mutually agreeable service
provider for twelve (12) months following the Termination Date. The amount of such outplacement services shall be commensurate with the Executive’s title and position with the Company and other executives similarly situated in other
companies within the Company’s peer industry group. Any reimbursement of such expenses shall be made by December 31 of the Executive’s taxable year following the year the expenses were incurred; and 

  
 5 

 (iv) if the Termination Date occurs during the CIC Period, then the Executive shall be
deemed, for purposes of the Retiree Medical Benefit Plan, (i) to have earned three (3) years of service in addition to the Executive’s actual service at the Termination Date, and (ii) to be three (3) years older than his
actual age on the Termination Date; provided, however, that the additional deemed service and age shall not be construed to reduce the Executive’s right to benefits under the Retiree Medical Benefit Plan that may otherwise be reduced by
reason of such additional service or age. This paragraph (v) shall not limit the ability of the Company or an Affiliate to modify the Retiree Medical Benefit Plan for all participants who are similarly situated as the Executive, subject to the
restrictions imposed by the plan and Section 2(g). 
 (c) Death or Disabled. If the Executive’s employment terminates due
to death or because he is Disabled, then this Agreement shall terminate without further obligations to the Executive or his legal representatives, as applicable, under this Agreement, other than the obligation to pay, within thirty (30) days
after the Termination Date, (i) the Accrued Obligations, and (ii) any applicable Prorated Annual Bonus. 
 (d) Cause; Other
than for Good Reason. If the Executive’s employment is terminated for Cause or the Executive terminates his employment without Good Reason, then this Agreement shall terminate without further obligations to the Executive under this
Agreement other than for payment of the Accrued Obligations. 
 (e) Application of Section 409A of the Code. Notwithstanding the above
paragraphs of this Section 4, if the Company determines that (i) the Executive is a “specified employee” within the meaning of Section 409A of the Code (“Section 409A”) as of the date of his “separation from
service” as defined by Section 409A (“Separation from Service”), and (ii) any amount of any payment to be made under this Section 4 is subject to Section 409A, then such amount shall not be paid to the Executive
until six (6) months after the date of his Separation from Service (or, if earlier, the date of his death). In such case, the portion of the payment so delayed shall be paid in a single lump sum in cash on the first (1st) day of the seventh
(7th) month following the Executive’s Separation from Service (or, if earlier, upon his death). 
 (f) General Release. The
Company’s obligation to make the payments described under Section 4(b) shall be conditioned on the Executive signing and not revoking the general form of release attached as Exhibit “B” or such other form acceptable to the
Company within the time periods provided in such release. The Company shall not be required to make any payment under Section 4(b) until the period for the Executive to revoke the release has expired. 

5. Non-Exclusivity of Rights. Except as specifically provided in Sections 4(b)(ii)(A) and
4(b)(iv), nothing in this Agreement shall prevent or limit the Executive’s right to participate in any plan, program, policy, or practice provided by the Company or any Affiliate and for which the Executive may qualify, nor shall anything in
this Agreement limit or otherwise affect such rights as the Executive may have under any other contract or agreement with the Company or any Affiliate. Amounts that are vested benefits or that the Executive is otherwise entitled to receive under any
plan, policy, practice, or program of, or any contract or agreement with, the Company or any Affiliate at or after the Termination Date shall be payable in accordance with such plan, policy, practice, program, contract, or agreement, except as
explicitly modified by this Agreement; provided, however, that the Executive shall not be eligible for severance benefits under any other severance program, policy, practice, or plan of the Company or any Affiliate providing benefits upon
involuntary termination of employment. 

  
 6 

 6. Full Settlement. The Company’s payment and other obligations under this
Agreement shall not be affected by any set-off, counterclaim, recoupment, defense, or other claim, right, or action against the Executive or others. The Executive shall have no obligation to seek employment or
otherwise mitigate his damages under this Agreement and amounts payable to the Executive under this Agreement shall not be reduced whether or not the Executive obtains other employment, except as provided in Section 4(b)(ii) of this Agreement.

 7. Section 4999 of the Code Excise Tax; Cap on Payments. 

(a) Cap on Payments. If any payment, benefit or distribution by the Company, any Affiliate or a trust established by the Company or any
Affiliate to or for the benefit of the Executive (whether pursuant to this Agreement or otherwise) (each, a “Payment” or, collectively, the “Payments”) is subject to an excise tax imposed by the Code, including
pursuant to Section 4999 of the Code, or the Executive incurs any interest or penalties with respect to such an excise tax (such excise tax and any such interest and penalties shall be referred to as the “Excise Tax”), the
Payments under Section 4 of this Agreement (the “Agreement Payments”) shall be reduced (but not below zero) to an amount that maximizes the aggregate present value (determined in accordance with Section 280G(d)(4) of the
Code) of the Payments without causing any Payment to be subject to the limitation of deduction under Section 280G of the Code or the imposition of any Excise Tax, with such reduction being made (i) on a nondiscretionary basis so as to
minimize the reduction in the economic value to the Executive, (ii) in a manner consistent with the requirements of Section 409A, and (iii) on a pro-rata basis where more than one Agreement
Payment has the same present value for this purpose and they are payable at different times; provided, however, if the net amount retained by the Executive from all the Payments after the reductions described above in this Section 7(a)
would be less than the net amount retained by the Executive from all the Payments after the Executive’s payment of any Excise Tax, the Agreement Payments shall not be reduced as set forth in this Section 7(a). 

(b) Determinations. All determinations to be made under this Section 7 shall be made by a nationally recognized certified public
accounting firm designated by the Company immediately prior to the Change in Control (the “Accounting Firm”). The Accounting Firm shall provide its determinations and any supporting calculations to the Company and the Executive
within ten (10) days of the termination date or Change in Control, as applicable. Any such determination by the Accounting Firm shall be binding upon the Company and the Executive. All of the fees and expenses of the Accounting Firm in
performing the determinations referred to in this Section 7 shall be borne solely by the Company. 
 8. Confidential Information and Non-Solicitation. 
 (a) Confidential Information. Given his position and employment with
the Company, the Executive acknowledges that he will be using, acquiring, and adding to Confidential Information of a special and unique nature and value to the Company and its strategic plan and financial operations. The Executive further
acknowledges that all Confidential Information belongs exclusively to the Company, is material and proprietary, and is critical to the Company’s success. Accordingly, the Executive shall use Confidential Information only to the Company’s
benefit and shall not at any time during or after his employment with the Company directly or indirectly disclose any Confidential Information to any person or use any Confidential Information for the Executive’s own benefit, for the benefit of
others, or to the Company’s detriment,. 

  
 7 

 (b) Legally Required Disclosure. If any court or agency requests the Executive to
disclose Confidential Information, then the Executive shall promptly notify the Company and take reasonable steps to prevent such disclosure until the Company receives such notice and has an opportunity to respond to such court or agency. If the
Executive obtains information that may be subject to the attorney-client privilege of the Company or any Affiliate, then the Executive shall take reasonable steps to maintain the confidentiality of such information and to preserve such privilege.

 (c) Exceptions. Confidential Information shall not include knowledge that was acquired during the course of the Executive’s
employment under this Agreement that is generally known to persons of the Executive’s experience in other companies in the same industry. 

(d) Legal Proceedings. This Section 8 shall not unreasonably restrict the Executive’s ability to disclose Confidential
Information in any legal proceeding involving any claim for breach or enforcement of this Agreement. If the parties dispute whether information may be disclosed in accordance with this Section 8(d), then the matter shall be considered an
Employment Matter and decided in accordance with Section 10. 
 (e) Other Obligations. This Agreement supplements, rather than
supplants, the Executive’s obligations under any Company policy relating to confidential information and any agreement of the Executive relating to confidentiality, inventions, copyrightable material, business and/or technical information,
trade secrets, solicitation of employees, interference with business relationships, competition, and other similar matters that protect the business and operations of the Company or its Affiliates. 

(f) Non-Solicitation. During his employment with the Company and for thirty-six (36) months following the date such employment terminates, regardless of the reason for such termination, the Executive shall not directly or indirectly hire, employ, solicit for employment, attempt
to solicit for employment, or communicate with about changing employment, any person who was an employee of the Company or its Affiliate within six (6) months of such hiring, employing, soliciting, or communicating (the “Non-Solicitation Obligation”); provided, however, that the Non-Solicitation Obligation shall be modified as follows: 

(i) if the Termination Date occurs during the CIC Period, then the Non-Solicitation Obligation shall
expire on the Termination Date; and 
 (ii) if the Executive terminates his employment with the Company without Good Reason, then the Non-Solicitation Obligation shall expire twelve (12) months following the Termination Date. 
 (g)
Remedies. The Executive acknowledges and agrees that the Company will have no adequate remedy at law and could be irreparably harmed if the Executive breaches or threatens to breach his obligations under this Section 8. The Company shall
be entitled to equitable and/or injunctive relief to prevent any such breach or threatened breach and to specific performance in addition to any other available legal or equitable remedies. The Executive shall not, in any equity proceeding relating
to the enforcement of this Section 8, raise the defense that the Company has an adequate remedy at law. 

  
 8 

 (h) Survival. The Executive’s obligations under this Section 8 shall
survive any termination of the Executive’s employment or of this Agreement. 
 9. Assignment; Successors. 

(a) Assignment. The Company’s rights and obligations under this Agreement may not be assigned to any entity other than an Affiliate
without the Executive’s consent. The Executive’s duties, responsibilities, authorities, compensation, and benefits are personal to the Executive and may not be assigned to any person or entity without written consent from the Company other
than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by the Executive’s legal representatives. 

(b) Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the Company and its successors and
assigns. 
 (c) Assumption. The Company shall require any successor or assignee (whether direct or indirect, by purchase, merger,
consolidation, or otherwise) to all or substantially all of the business and/or assets of the Company to assume expressly and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if
no such succession or assignment had taken place. 
 10. Dispute Resolution and Guarantees of Payment. 

(a) Mandatory Arbitration. Subject to Section 10(b), any Employment Matter shall be finally settled by arbitration in Oklahoma
City, Oklahoma administered by the AAA under its Employment Arbitration Rules then in effect; provided, however, that the AAA’s Employment Arbitration Rules shall be modified as follows: (i) each arbitrator shall agree to treat as
confidential evidence and other information presented, and (ii) there shall be no authority to award punitive damages or liquidated or indirect damages unless such damages could be awarded by a court of competent jurisdiction. The decision of
the arbitrator(s) shall be enforceable in any court of competent jurisdiction. 
 (b) Injunctions and Enforcement of Arbitration
Awards. Either party may bring an action or special proceeding in a state or federal court of competent jurisdiction in Oklahoma City, Oklahoma to enforce any arbitration award under Section 10(a). The Company also may bring such an action
or proceeding, in addition to its rights under Section 10(a) and whether or not an arbitration proceeding has been or is ever initiated, to temporarily, preliminarily, or permanently enforce Sections 8 or 11. The Executive agrees that
(i) violating Sections 8 or 11 would damage the Company in ways that cannot be measured or repaired, (ii) the Company shall be entitled to an injunction, restraining order, or other equitable relief restraining any actual or
threatened violation of Sections 8 or 11, (iii) the Company shall not be required to post a bond or prove actual damages when seeking such an injunction, restraining order, or other equitable relief, and (iv) remedies at law for such violations
would be inadequate. 
 (c) Waiver of Jury Trial. To the extent permitted by law, the parties waive any and all rights to a jury
trial with respect to any Employment Matter. 
 (d) Attorney Fees.  

  
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 (i) If (A) a claim for arbitration or a lawsuit in connection with an Employment Matter
(an “Employment Matter Claim”) is filed by either of the parties, and (B) the Executive is ultimately successful in respect of one or more material claims or defenses brought, raised or pursued in connection with such
Employment Matter Claim, then the Company shall reimburse the Executive for all legal fees and expenses reasonably incurred in connection with such Employment Matter Claim, provided that such legal fees are reasonable and are calculated on an hourly
rather than a contingency fee basis, as well as all costs and expenses reasonably incurred in connection with pursuing or defending any such Employment Matter Claim. Except as provided in Section 10(d)(ii) below, the Company shall make such
reimbursement to the Executive as soon as practicable following final resolution of the Employment Matter Claim, but no later than December 31 of the year immediately following the year of such resolution, provided that the Company receives
appropriate documentation of such attorneys’ fees, costs, and expenses, which shall be provided by the Executive no later than the later of (x) December 31 of the year in which resolution occurs, or (y) sixty (60) days following
the resolution of the Employment Matter Claim. 
 (ii) If an Employment Matter Claim is filed by either of the parties during the CIC
Period, or (B) an Employment Matter Claim has been filed prior to a Change in Control but has not been resolved as of the effective date of a Change in Control, then the Executive may submit his request for reimbursement of attorneys’
fees, costs and expenses on a monthly basis during the pendency of such Employment Matter Claim. Within sixty (60) days following the Company’s receipt of each such monthly request and appropriate documentation supporting such request for
reimbursement of attorneys’ fees, costs and expenses, the Company shall reimburse the Executive (or pay directly to the Executive’s attorney) the Executive’s attorneys’ fees, costs and expenses that the Company is obligated,
pursuant to Section 10(d)(i) above, to reimburse with respect to such Employment Matter Claim. In the event the Executive ultimately fails to be successful with respect to at least one of the Executive’s material claims or defenses
brought, raised or pursued in connection with such contest or dispute, the Executive shall repay the Company the amount of any such reimbursement received in connection with such dispute in accordance with this Section 10(d) (without interest)
as soon as practicable following the final resolution of such matter. 
 (e) Secondary Liability for Payment. If any Affiliate is not
otherwise obligated to provide benefits to the Executive by this Agreement, then the Company shall take, and cause each such Affiliate (the “Guarantors”) to take, such actions as are necessary to cause the Guarantors to jointly and
severally guarantee the payment of benefits otherwise due to the Executive under this Agreement if the Company fails to pay such benefit within thirty (30) days of the due date for such payment; provided, however, that no entity
organized under the laws of any jurisdiction outside the United States shall have an obligation to enter into such guarantee. Each of the Guarantors shall be subrogated to the Executive’s rights under this Agreement to the extent of any
payments by each such Guarantor to or on account of the Executive under this Section 10(e). 
 11.
Non-Disparagement. The Executive shall not make any negative or disparaging comments regarding the Company or its Representatives or its or their respective performance, operations, or business
practices, or otherwise take any action that could reasonably be expected to adversely affect the Company or such Representatives or their personal or professional reputations. The Executive may truthfully respond to inquiries by government agencies
or to inquiries by any person through a subpoena or other valid judicial process without violating this Section 11, provided that the Executive delivers written notice of such required disclosure to the Company promptly before making such
disclosure, unless such notice to the Company is prohibited by applicable law, court order, subpoena, process, or governmental decree. 

  
 10 

 12. Indemnification and Insurance. 

(a) Indemnity. The Company shall, to the maximum extent permitted by law, defend, indemnify, and hold harmless the Executive and the
Executive’s heirs, estate, executors, and administrators against any costs, losses, claims, suits, proceedings, damages, or liabilities to which they may become subject to arising from, based on, or relating to the Executive’s employment
by the Company (and any predecessor of the Company), or the Executive’s service as an officer or member of the board of directors (or any similar governing body) of the Company (or any predecessor of the Company) or any Affiliate, including
without limitation reimbursement for any legal or other expenses reasonably incurred by the Executive in connection with investigation and defending against any such costs, losses, claims, suits, proceedings, damages, or liabilities. 

(b) Insurance. The Company shall maintain directors and officers liability insurance in commercially reasonable amounts (as reasonably
determined by the Board), and the Executive shall be covered under such insurance to the same extent as other similarly situated executives of the Company; provided, however, that the Company shall not be required to maintain such insurance
coverage if the Board determines that it is unavailable at reasonable cost, provided that the Executive is given written notice of any such determination promptly after it is made. 

(c) Gross-Up. If the value of any benefits or payment provided under Section 12(a) is subject to income taxes, then the Company
shall make an additional payment (a “Gross-Up Payment”) to the Executive, by December 31 of the year next following the Executive’s taxable year in which the income taxes were
incurred, in an amount equal to 75% of the federal, state, and local income taxes imposed upon such benefits or payment. All determinations to be made under this Section 12(c) (including whether and when a
Gross-Up Payment is required) shall be (i) made within thirty (30) days of receipt by the Company of the Executive’s request for the Gross-Up Payment,
(ii) made by a nationally recognized certified public accounting firm designated by the Company, and (iii) binding upon the Company and the Executive. All of the fees and expenses of the accounting firm in performing such determinations
shall be borne solely by the Company. 
 13. Executive to Provide Assistance with Claims. During his employment with the Company and
following the termination of such employment, regardless of the reason for such termination, the Executive shall assist the Company in defending any claims that may be made against the Company, and shall assist the Company in prosecuting any claims
that may be made by the Company, to the extent that such claims may relate to the Executive’s services for the Company. The Executive shall promptly inform the Company if he learns of any lawsuits involving such claims that may be filed against
the Company. The Company shall reimburse the Executive for all reasonable out-of-pocket expenses associated with such assistance, including travel expenses, incurred and
accounted for in accordance with its standard policies and procedures for expense reimbursements and deductibles under Section 162 of the Code. For periods after the Termination Date, the Company shall provide reasonable compensation to the
Executive for such assistance at a rate to be determined by the Company in its discretion. The Executive shall promptly inform the Company if asked to assist in any investigation of the Company that may relate to the Executive’s services for
the Company, regardless of whether a lawsuit has then been filed against the Company with respect to such investigation. For purposes of this Section 13, the term “Company” shall include the Company and its Affiliates. 

14. Entire Agreement. Except as provided in Section 8(e), this Agreement constitutes the entire agreement among the parties with
respect to its subject matters and supersedes any and all prior or contemporaneous oral and written agreements and understandings with respect to such subject matters, including without limit all prior agreements relating to employment, severance,
or change in control; provided, however, that this Agreement shall not adversely affect the Executive’s rights under the terms of any option on stock of the Company or any other award based on the stock of the Company. 

  
 11 

 15.Miscellaneous. 

(a)Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Oklahoma, without
reference to its conflict-of-laws principles. 

(b)Captions. The captions of this Agreement are not part of this Agreement and shall have no force or effect. 

(c)Amendment. This Agreement may not be amended or modified except by a written agreement executed by the parties or their respective
successors and legal representatives. 
 (d)Notices. All notices and other communications under this Agreement shall be in writing
and sent to the other party by either hand delivery, pre-paid overnight carrier, or registered or certified U.S. mail (return receipt requested) postage prepaid, addressed as follows: 

If to the Executive: 

Tana K. Cashion 

Devon Energy Corporation 

333 West Sheridan Avenue 

Oklahoma City, Oklahoma 73102-5015 

If to the Company: 

Devon Energy Corporation 

C/O—Human Resources 

333 West Sheridan Avenue 

Oklahoma City, Oklahoma 73102-5015 

With a copy to: 

Devon Energy Corporation 

C/O Executive Vice President & General Counsel 

333 West Sheridan Avenue 

Oklahoma City, Oklahoma 73102-5015 

or to such other address as either party shall have furnished to the other in writing. Such notice shall be deemed given (i) in the case of hand
delivery, the day of delivery; (ii) in the case of overnight delivery, the next business day or the day designated for delivery; and (iii) in the case of certified or registered U.S. mail, five (5) days after deposit in the U.S. mail;
provided, however, that in no event shall any such notices be deemed to be given later than the date they are actually received. 

(e)Severability. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability
of any other provision of this Agreement, and this Agreement shall be construed as if such invalid or unenforceable provisions were omitted (but only to the extent such provision cannot be appropriately reformed or modified). If any such provision
may be made enforceable by limitation, then such provision shall be deemed to be so limited and shall be enforceable to the maximum extent permitted by applicable law. 

  
 12 

 (f)Withholdings. The Company may withhold from any amounts payable under this
Agreement all amounts authorized by the Executive or required to be withheld under any applicable federal, state, local, or foreign law or regulation. 

(g)Waiver. The waiver by either party of a breach of any term or provision of this Agreement shall not operate or be construed as a
waiver of a subsequent breach of the same term or provision by either party or of the breach of any other term or provision of this Agreement. 

(h)Representations and Warranties. The Executive represents and warrants that (i) he is not, and shall not become, a party to any
agreement, contract, arrangement, or understanding, whether of employment or otherwise, that would in any way restrict or prohibit him from undertaking or performing the duties required by this Agreement or that would in any way restrict or prohibit
his ability to be employed by the Company in accordance with this Agreement; (ii) his employment by the Company does not and shall not violate the terms of any policy of, or any agreement with, any prior employer regarding confidentiality or
competition; and (iii) his position with the Company shall not require him to improperly use any trade secrets or confidential information of any prior employer or any other person or entity for whom he has performed services. 

(i)Section 409A Compliance. This Agreement is intended to comply with Section 409A and its corresponding regulations, or an
exemption therefrom, and payments may only be made under this Agreement upon an event and in a manner permitted by Section 409A, to the extent applicable. All payments to be made upon a termination of employment under this Agreement may only be
made upon a Separation from Service under Section 409A. For purposes of Section 409A, the right to a series of payments under this Agreement shall be treated as a right to a series of separate payments. In no event may the Executive,
directly or indirectly, designate the calendar year of a payment, including as a result of the timing of the Executive’s execution of the Release. Notwithstanding anything to the contrary herein, if a payment that is subject to execution of the
Release could be made in more than one taxable year, payment shall be made in the later taxable year. 
 [SIGNATURES APPEAR ON FOLLOWING
PAGE] 

  
 13 

 IN WITNESS WHEREOF, the Company and the Executive have executed this Employment Agreement as
of the Effective Date. 
  

	
	/s/ Tana K. Cashion
	Tana K. Cashion
	
	Devon Energy Corporation
	
	/s/ Richard E. Muncrief
	Richard E. Muncrief
	President & CEO

  
 14 

 Exhibit A 

Definitions 

Definitions. The following terms, when used throughout this Agreement, shall have the following meanings: 

 

	1.	 “AAA” means the American Arbitration Association. 

 

	2.	 “Accounting Firm” has the meaning ascribed to such term in Section 7(b).

  

	3.	 “Act” means the Securities Exchange of Act of 1934, as amended from time to time.

  

	4.	 “Accrued Obligations” has the meaning ascribed to such term in Section 4(a).

  

	5.	 “Affiliate” means, with respect to the Company, any person that directly, or indirectly
through one or more intermediaries, controls, is controlled by, or is under common control with, the Company; provided, however, that a natural person shall not be considered an Affiliate. 

 

	6.	 “Agreement” has the meaning set forth in the preamble. 

 

	7.	 “Agreement Payments” has the meaning ascribed to such term in Section 7(a).

  

	8.	 “Annual Base Salary” means the annual base salary of the Executive as in effect from time to
time. 

  

	9.	 “Annual Bonus” means, with respect to any given year, the annual bonus payable to the
Executive with respect to that year, as determined by the Compensation Committee in its discretion. 

  

	10.	 “Board” means, at any given time, the Company’s Board of Directors at that time.

  

	11.	 “Cause” means any of the following: 

 

	 	(a)	 the willful failure by the Executive to substantially perform the Executive’s duties for the Company or an
Affiliate (other than due to physical or mental incapacity) within thirty (30) days after receiving a written demand for substantial performance from the Supervisor, the CEO, or the Board; 

 

	 	(b)	 the willful engaging by the Executive in illegal or dishonest conduct or gross misconduct that is materially
and demonstrably injurious to the Company or an Affiliate; or 

  

	 	(c)	 the conviction of the Executive of a felony or any crime of moral turpitude, a guilty or nolo contendere plea
by the Executive with respect to a felony or any crime of moral turpitude, or the deferred adjudication or unadjudicated probation of the Executive with respect to a felony or any crime of moral turpitude; 

provided, however, that (x) an act or omission by the Executive shall be considered “willful” only if it was not in good
faith and was without reasonable belief that it was in the Company’s best interests, and (y) any act or omission by the Executive based upon authority granted by resolution duly adopted by the Board, the instructions of the Supervisor, or
the advice of counsel for the Company shall be conclusively presumed to be in good faith and in the Company’s best interests. 

  
 - 1 - 

	12.	 “CEO” means, at any given time, the Chief Executive Officer of the Company at that time.

  

	13.	 “Change in Control” means the occurrence of any one of the following events:

  

	 	(a)	 The Incumbent Directors cease for any reason to constitute at least a majority of the Board;

  

	 	(b)	 any person is or becomes a “beneficial owner” (as defined in Rule 13d-3 under the Act), directly or indirectly, of Company securities representing 30% or more of either (x) the Company’s outstanding shares of common stock or (y) the combined voting power of the
Company’s then outstanding securities eligible to vote in the election of directors (each, “Company Securities”); provided, however, that the event described in this paragraph (b) shall not be deemed to be a Change
in Control by virtue of any of the following acquisitions or transactions: (A) by the Company or any subsidiary, (B) by any employee benefit plan (or related trust) sponsored or maintained by the Company or any subsidiary, (C) by an
underwriter temporarily holding securities pursuant to an offering of such securities, or (D) pursuant to a Non-Qualifying Transaction; 

 

	 	(c)	 the consummation of a merger, consolidation, statutory share exchange, or similar form of corporate transaction
involving the Company or any of its subsidiaries that requires the approval of the Company’s stockholders, whether for such transaction or the issuance of securities in the transaction (a “Reorganization”), or the sale or other
disposition of all or substantially all of the Company’s assets to an entity that is not an Affiliate (a “Sale”), unless: 

  

	 	(i)	 the holders of the Company’s shares of common stock either receive in such Reorganization or Sale, or hold
immediately following the consummation of the Reorganization or Sale, more than 50% of each of the outstanding common stock and the total voting power of securities eligible to vote in the election of directors of (x) the corporation resulting
from such Reorganization or the corporation that has acquired all or substantially all of the assets of the Company in connection with a Sale (in either case, the “Surviving Corporation”), or (y) if applicable, the ultimate
parent corporation that directly or indirectly has beneficial ownership of 100% of the voting securities eligible to elect directors of the Surviving Corporation (the “Parent Corporation”), 

 

	 	(ii)	 no person (other than any employee benefit plan (or related trust) sponsored or maintained by the Surviving
Corporation or the Parent Corporation) is or becomes, as a result of the Reorganization or Sale, the beneficial owner, directly or indirectly, of 30% or more of the outstanding shares of common stock or the total voting power of the outstanding
voting securities eligible to vote in the election of directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation), and 

 

	 	(iii)	 at least a majority of the members of the board of directors of the Parent Corporation (or, if there is no
Parent Corporation, the Surviving Corporation) following the consummation of the Reorganization or Sale were Incumbent Directors at the time of the Board’s approval of the execution of the initial agreement providing for such Reorganization or
Sale; 

  
 - 2 - 

 (any Reorganization or Sale that satisfies all of the criteria specified in (i), (ii) and
(iii) above shall be deemed to be a “Non-Qualifying Transaction”); or 
  

	 	(d)	 the Company’s stockholders approve a plan of complete liquidation or dissolution of the Company.

 Notwithstanding the foregoing, a Change in Control shall not be deemed to occur solely because any person acquires
beneficial ownership of more than 30% of Company Securities due to the Company’s acquisition of Company Securities that reduces the number of Company Securities outstanding; provided, however, if, following such acquisition by the
Company, such person becomes the beneficial owner of additional Company Securities that increases the percentage of outstanding Company Securities beneficially owned by such person, a Change in Control shall then occur. In addition, if a Change in
Control occurs pursuant to paragraph 12(b) above, then no additional Change in Control shall be deemed to occur pursuant to paragraph 12(b) by reason of subsequent changes in holdings by such person (except if the holdings by such person are reduced
below 30% and thereafter increase to 30% or above). 
  

	14.	 “CIC Period” means the two-year period following a
Change in Control. 

  

	15.	 “COBRA” means the Consolidated Omnibus Budget Reconciliation Act of 1986, as amended from time
to time. 

  

	16.	 “Code” means Internal Revenue Code of 1986, as amended from time to time.

  

	17.	 “Company” means the Devon Energy Corporation, as set forth in the preamble to this Agreement,
and any successor to or assignee of its business and/or assets that assumes and agrees to perform this Agreement by operation of law or otherwise. 

  

	18.	 “Compensation Committee” means, at any given time, the Compensation Committee of the Board at
that time. 

  

	19.	 “Confidential Information” means non-public
information (including, without limitation, information regarding litigation and pending litigation) concerning the Company and its Affiliates that was acquired by or disclosed to the Executive during his employment with the Company and following
the Termination Date. 

  

	20.	 “Disabled” means, with respect to the Executive, that (a) he has received disability
payments under the Company’s long-term disability plan for a period of three (3) months or more, or (b) based upon the written report (prepared after a complete physical examination of the Executive) of a mutually agreeable qualified
physician designated by the Company and the Executive or his representative, the Compensation Committee determines, in accordance with Section 409A of the Code, that the Executive has become physically or mentally incapable of performing his
essential job functions with or without reasonable accommodation or job protection as required by law for a continuous period expected to last for a continuous period of not less than twelve (12) months. 

 

	21.	 “Effective Date” has the meaning set forth in the preamble to this Agreement.

  
 - 3 - 

	22.	 “Employment Matter” means any dispute, controversy, or claim between the parties arising out
of, relating to, or concerning this Agreement, the Executive’s employment with the Company, or the termination of that employment. 

  

	23.	 “Employment Matter Claim” has the meaning ascribed to such term in Section 10(d)(i).

  

	24.	 “Excise Tax” has the meaning ascribed to such term in Section 7(a).

  

	25.	 “Executive” has the meaning set forth in the preamble to this Agreement.

  

	26.	 “Good Reason” means any of the following events, unless the Executive has consented in writing
to such events: 

  

	 	(a)	 the assignment of any duties materially inconsistent with the Executive’s position (including status,
offices, titles, and reporting requirements), authority, duties, or responsibilities under this Agreement, other than an isolated, insubstantial, or inadvertent action not taken in bad faith and which the Company remedies promptly after receipt of
notice from the Executive; 

  

	 	(b)	 any material failure by the Company to comply with any provision of this Agreement, other than an isolated,
insubstantial, or inadvertent failure not occurring in bad faith and which and which the Company remedies promptly after receipt of notice from the Executive; 

 

	 	(c)	 any failure by the Company to comply with and satisfy Section 9(c); or 

 

	 	(d)	 any relocation of the Executive’s principal office to a location more than fifty (50) miles from the
Executive’s principal office prior to such relocation. 

  

	27.	 “Good Reason Notice” has the meaning ascribed to such term in Section 3(d).

  

	28.	 “Gross-Up Payment” has the meaning ascribed to such
term in Section 12(c). 

  

	29.	 “Guarantors” has the meaning ascribed to such term in Section 10(e).

  

	30.	 “Incumbent Directors” means the members of the Board on the Effective Date; provided,
however, that (x) any person becoming a director and whose election or nomination for election was approved by a vote of at least a majority of the Incumbent Directors then on the Board (either by a specific vote or by approval of the proxy
statement of the Company in which such person is named as a nominee for director, without written objection to such nomination) shall be deemed an Incumbent Director, and (y) no individual initially elected or nominated as a director of the
Company as a result of an actual or threatened election contest (as described in Rule 14a-11 under the Act) or other actual or threatened solicitation of proxies or consents by or on behalf of any person (as
such term is used in Sections 13(d)(3) and 14(d)(2) of the Act) other than the Board, including by reason of any agreement intended to avoid or settle any such election contest or solicitation of proxies or consents, shall be deemed an
Incumbent Director. 

  

	31.	 “Non-Solicitation Obligation” has the meaning ascribed
to such term in Section 8(f). 

  
 - 4 - 

	32.	 “Notice of Termination” means a written notice that (i) indicates the specific
termination provision of Section 3 that is being relied upon, (ii) to the extent applicable, reasonably describes the facts and circumstances claimed to provide a basis for termination under the provision so indicated, and
(iii) specifies the Termination Date; provided, however, that the failure to describe in the Notice of Termination any fact or circumstance constituting Good Reason or Cause shall not waive any right of either party under this Agreement
or preclude either party from asserting such fact or circumstance in enforcing rights under this Agreement. 

  

	33.	 “Payment” has the meaning ascribed to such term in Section 7(a). 

 

	34.	 A “person” shall have the meaning ascribed by Section 3(a)(9) of the Act and shall also
mean a natural person, company, government (and any political subdivision, agency, or instrumentality of a government), corporation, partnership, limited liability company, trust, unincorporated organization, or other entity. When two or more
persons act as a partnership, limited partnership, syndicate, or other group for the purposes of acquiring, holding, or disposing Company Securities, such partnership, limited partnership, syndicate, or other group shall be deemed a
“person” for purposes of this Agreement. 

  

	35.	 “Prorated Annual Bonus” means a prorated amount of an Annual Bonus payable under Sections
4(b)(i)(B) or 4(c). If the Executive’s employment began in a calendar year before the calendar year in which the Termination Date occurs, the Prorated Annual Bonus shall be calculated based on the prior year’s Annual Bonus (if any) times
the number of days worked in the year in which the Termination Date occurs divided by three hundred sixty five (365). If the Executive’s employment began in the calendar year in which the Termination Date occurs, then the Prorated Annual Bonus
shall be determined by the Compensation Committee in its discretion. 

  

	36.	 “Representatives” means, with respect to the Company, its Affiliates and any of their
respective past or present officers, directors, stockholders, partners, members, managers, agents, and employees. 

  

	37.	 “Retiree Medical Benefit Plan” means any retiree medical benefit plan applicable to the
Executive or that would be applicable to the Executive if his employment then terminated and he satisfied the applicable age and service requirements. 

  

	38.	 “Section 409A” has the meaning ascribed to such term in Section 4(e). 

 

	39.	 “Separation from Service” has the meaning ascribed to such term in Section 4(e).

  

	40.	 “Short-Term Disability Payments” means disability payments under the Company’s short-term
disability policy or plan that are less than 100% of the then-current Annual Base Salary. 

  

	41.	 “Supervisor” means, with respect to the Executive, the person to whom the Executive reports,
as determined by the CEO or the CEO’s designee from time to time. 

  

	42.	 “Termination Date” means the Executive’s last day of employment by the Company or an
Affiliate (including any successor to the Company or such Affiliate as determined in accordance with Section 9). 

  
 - 5 -

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