Document:

Exhibit

Exhibit 10.1

SEPARATION AND RELEASE AGREEMENT

This Separation and Release Agreement (this “Agreement”) is by and between Chaparral Energy, LLC (the “Company”), Chaparral Energy, Inc. (“CEI”), and Joseph Evans (the “Individual”).  

RECITALS

WHEREAS, the Individual has been employed by the Company as its Executive Vice President-Chief Financial Officer. 

WHEREAS, the Individual entered into an Amended and Restated Employment Agreement with the Company and CEI effective as of March 27, 2017 (the “Employment Agreement”).

WHEREAS, the Individual has notified the Company of his intent to voluntary retire  from his employment with the Company effective as of March 15, 2019.  
    
WHEREAS, the parties desire to enter into this Agreement to reflect their mutual undertakings, promises, and agreements concerning the ending of the Individual’s employment with the Company and payments and benefits to the Individual upon or by reason of such ending.  

NOW THEREFORE, in exchange for the valuable consideration paid or given under this Agreement, the receipt, adequacy, and sufficiency of which is acknowledged, the parties knowingly and voluntarily agree to the following terms:

TERMS

		
	1.
	Separation Date; Effect of Separation.  Unless terminated earlier in accordance with paragraph 2 below, the Individual’s employment with the Company shall terminate effective as of March 15, 2019 due to his voluntary retirement.  The parties acknowledge and agree that such retirement constitutes a resignation by the Individual without Good Reason (as defined in the Employment Agreement).  The final day of the Individual’s employment with the Company shall be referred to as the “Separation Date” for purposes of this Agreement.  Effective as of the Separation Date, the Individual shall voluntarily resign, and does hereby voluntarily resign, from all other positions, if any, he held with the Company, CEI, and their affiliates.  For purposes of this Agreement, “affiliate” means, with respect to the Company or CEI, any person that directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, the Company or CEI.  As of the Separation Date, the Individual shall also experience a separation from service from the Company, CEI, and their affiliates within the meaning of Section 409A of the Internal Revenue Code of 1986 (the “Code”), as amended (“Section 409A”).    

		
	2.
	Duties and Responsibilities During Transition Period.  During the period between February 15, 2019 and March 15, 2019 (the “Transition Period”), the Individual shall continue to perform his customary duties, responsibilities, and authorities under  the Employment Agreement and cooperate fully and completely with the Company, at its request, in all matters in which it requests assistance, including without limitation in all matters relating to the performance and transition of his duties, responsibilities, and authorities for the Company, CEI, and their affiliates.  This obligation includes but is not limited to the Individual promptly responding to telephone calls, e-mails, text messages, and other communications from the Company and its employees and meeting with employees of the Company at reasonable times upon their request, and promptly providing any reasonably requested 

assistance and performing any reasonably requested duties to the best of his ability.  In addition to the other conditions in this Agreement, the obligation of the Company and CEI to provide the Separation Benefits (as defined below) to the Individual is subject to the condition that the Company not terminate the Individual’s employment for Cause (as defined in the Employment Agreement).  If the Company terminates the Individual’s employment for Cause, then, notwithstanding any other provision of this Agreement, the Company and CEI shall have no obligation to provide the Individual with the Separation Benefits but all other provisions of this Agreement shall remain in full force and effect.  

		
	3.
	Termination of Employment Agreement and Continuing Obligations.  The Employment Agreement shall be terminated without further action of the parties as of the Separation Date.  Accordingly, as of the Separation Date, the Company, CEI, and their affiliates shall have no further liabilities, obligations, or duties to the Individual, and the Individual shall forfeit all remaining rights and benefits, under the Employment Agreement, except as provided in this Agreement.  Notwithstanding the previous two sentences, the post-termination rights and obligations of the parties which continue by their terms under the Employment Agreement, including without limitation under Sections 9 (Confidential Information; Non-Solicitation; Non-Competition); 11 (Indemnification and Insurance); 12 (Arbitration; Legal Fees); 13 (Maximum Payments by the Company); 14 (Agreement Binding on Successors); 15 (Notice); 16 (Section 409A); 17 (Withholding); 18 (Miscellaneous); 19 (Validity); 22 (Entire Agreement); and 23 (Further Assurances) of the Employment Agreement (together, the “Continuing Obligations”), shall continue in full force and effect according to their terms notwithstanding the termination of the Individual’s employment with the Company, the termination of the Employment Agreement, or the execution of this Agreement.  The Individual acknowledges and agrees that he has fully complied with such Continuing Obligations at all times before he signs this Agreement and that he intends to, and shall, fully comply with such Continuing Obligations after he signs this Agreement.           

		
	4.
	Final Pay and Benefits.  In full accordance with Section 7(c) of the Employment Agreement, the Individual shall receive the following payments and benefits in accordance with the existing policies of the Company, CEI, or their affiliates, or at the sole discretion of the Company, CEI, or their affiliates, pursuant to his employment with the Company and his participation in the employee benefit plans of the Company, CEI, or their affiliates: 

		
	a.
	Final Pay, 2018 Annual Bonus, and Pay for Accrued Unused PTO.  The Individual shall be entitled to payment equal to (i) his regular Base Salary (as defined in the Employment Agreement) through the Separation Date, (ii) the Annual Bonus (as defined in the Employment Agreement) for 2018, if any, to the extent not already paid by the Separation Date, (iii) 240 hours of accrued but unused vacation owed to the Individual as of the Separation Date under the Company’s vacation policy, and (iv) reimbursement for all reasonable business expenses properly incurred by the Individual before the Separation Date and supported by appropriate substantiating documentation.  These payments are subject to applicable taxes and withholdings.  The payments described in (i), (iii), and (iv) shall be delivered to the Individual within 30 days following the Separation Date and the payment, if any, described in (ii) shall be delivered to the Individual following approval of bonuses by the Company’s Board of Directors (the “Board”) on the same date that annual bonus payments for 2018 are paid to other employees of the Company.  Other than as provided in the previous sentence and in paragraph 5 below, the Individual shall not receive any commissions, bonuses, or other forms or remuneration or compensation in connection with his employment with the Company or any other arrangement with the Company, CEI, or their affiliates after the Separation Date.   

		
	b.
	Vested 401(k) Plan Benefits.  Following the Separation Date, the Individual shall receive payment or other entitlement, in accordance with the terms of the applicable plan or as required by applicable law, of any benefits under the 401(k) plan maintained by the Company or its affiliates to which he has a vested entitlement as of the Separation Date.

		
	c.
	Right to Continue Certain Insurance Benefits.  The Individual shall have the right to continue after the Separation Date his group health, dental, and vision insurance benefits, if any, for himself and his dependents, at his own expense (except as provided below in subparagraph 5 of this Agreement) in accordance with the Consolidated Omnibus Budget Reconciliation Act (“COBRA”).  The Individual should complete an insurance continuation election form, which will be furnished to him under separate cover, and timely return it if he wishes to apply to continue his insurance coverage under COBRA.    

		
	d.
	Reimbursement of Business Expenses.  The Individual shall be entitled to receive reimbursement of reasonable business expenses properly incurred by him in accordance with Company policy before the Separation Date.  Any such reimbursement must be based on substantiating documentation provided by the Individual within 30 days after the Separation Date.       

		
	e.
	Restricted Share Awards.  Subject to the vesting, forfeiture, and other terms and conditions of the Company’s Management Incentive Plan dated as of August 9, 2017 (the “Plan”) and that certain Restricted Stock Award Agreement between the Company and the Individual dated as of August 16, 2017 (the “Award Agreement”), the Individual was granted 228,013 shares of the Company’s Common Stock (as defined in the Plan) (the “Restricted Shares”), 75% of which were to vest on a time basis under Section 3(a)(i) of the Award Agreement (the “Time-Based Restricted Shares”) and 25% of which were to vest on a performance basis under Section 3(a)(ii) of the Award Agreement (the “Performance-Based Restricted Shares”).  Due to the resignation of his employment without Good Reason (as defined in the Employment Agreement), and without any further action by or notice from any person, the Individual acknowledges and agrees that he automatically forfeited all Restricted Shares which were not vested as of the Separation Date in accordance with Section 3(d) of the Award Agreement and that the following Restricted Shares were vested as of the Separation Date in accordance with Section 3(a)(i) of the Employment Agreement:  (i) 57,003 of the Time-Based Restricted Shares (the “Time-Based Vested Restricted Shares”) which vested on April 1, 2018, (ii) 21,851 of the Performance-Based Restricted Shares which vested on December 31, 2017, and (iii) an additional number of Performance-Based Restricted Shares which vested on December 31, 2018 in an amount to be determined by the Board in its sole discretion (the Performance-Based Restricted Shares described in (ii) and (iii), the “Performance-Based Vested Restricted Shares”).  By signing below, the Individual also acknowledges and agrees that he has no rights in any equity or equity-related interests in the Company, CEI, or their affiliates other than the Restricted Shares just described and as set forth in subparagraphs 5(c) and 5(d) below.

		
	5.
	Separation Benefits.  Conditioned on the Individual’s timely execution, return, and non-revocation of this Agreement, the Company and CEI, as applicable, shall provide the Individual with the separation benefits described in this paragraph (the “Separation Benefits”).  

		
	a.
	Separation Payment.  The Company shall pay the Individual an amount equal to $448,914.00 plus the amount of the Individual’s 2018 Annual Bonus (as defined in the Employment Agreement), if any, minus applicable taxes and withholdings, as a separation payment (the 

“Separation Payment”) in equal or nearly equal installments on the Company’s regularly scheduled pay dates beginning on the Company’s first regularly scheduled payday following the Effective Date (as defined in this Agreement) and continuing thereafter for 12 months until the Separation Payment is paid in full.  

		
	b.
	Payment of COBRA Premiums.  If the Individual timely elects to continue group health, dental, and/or vision insurance for himself, his spouse, and/or his dependents under COBRA following the Separation Date, the Company shall pay on his behalf the monthly premium costs he incurs for such coverage, provided that he notifies the Company in writing within five days after he becomes eligible for group health, dental, and/or vision insurance coverage, if any, through subsequent employment.  The Company shall pay the monthly amounts just described for 18 months after the Separation Date or until the Individual becomes eligible for group health, dental, and/or vision insurance coverage due to subsequent employment, whichever is sooner.

		
	c.
	Additional Vesting of Time-Based Restricted Shares.  Notwithstanding anything to the contrary in this Agreement, the Plan, or the Award Agreement, CEI shall vest the Individual effective as of the Effective Date (as defined below) in an additional 57,004 of the Time-Based Restricted Shares, all of which shall be considered Time-Based Vested Restricted Shares for purposes of this Agreement such that the Individual’s total Time-Based Vested Restricted Shares shall be 114,007. The parties acknowledge and agree that the Time-Based Vested Restricted Shares shall continue to be otherwise subject to the terms and conditions of the Plan and the Award Agreement in all respects and that all other Time-Based Restricted Shares have been automatically forfeited as of the Separation Date.  

		
	6.
	Return of Property and Information.  Upon request by the Company, the Individual shall promptly return to the Company, CEI, or the other Released Parties (as defined below) any and all items of its or their property, including without limitation keys, all Confidential Information (as defined in the Employment Agreement), badge/access card, computers, software, cellular telephones, iPhones, blackberries, other personal digital assistants, equipment, credit cards, forms, files, manuals, correspondence, business records, personnel data, lists of employees, salary and benefits information, customer files, lists of suppliers and vendors, price lists, contracts, contract information, marketing plans, brochures, catalogs, training materials, computer tapes and diskettes or other portable media, computer-readable files and data stored on any hard drive or other installed device, and data processing reports, and any and all other documents or property which he has had possession of or control over during his employment with the Company or its affiliates.  The Individual’s obligations under this paragraph supplement, rather than supplant, the Continuing Obligations and his obligations under the common law.  The Individual’s obligations under this paragraph shall not apply to, and the Individual may retain copies of, personnel, benefit, or payroll documents concerning only him. 

		
	7.
	General Release.  

		
	a.
	Full and Final Release by Releasing Parties.  The Individual, on behalf of himself and his spouse (if any), other family members, heirs, successors, and assigns (collectively, the “Releasing Parties”), hereby voluntarily, completely, and unconditionally to the maximum extent permitted by applicable law releases, acquits, waives, and forever discharges any and all claims, demands, liabilities, and causes of action of whatever kind or character, whether known, unknown, vicarious, derivative, direct, or indirect (individually a “Claim” and collectively the “Claims”), that he or they, individually, collectively, or otherwise, may have or assert against the Released Parties (as defined below).  

		
	b.
	Claims Included.  This release includes without limitation any Claim arising out of or relating in any way to (i) the Individual’s employment or the termination of his employment with the Company or with the employment practices of any of the Released Parties; (ii) any federal, state, or local statutory or common law or constitutional provision that applies, or is asserted to apply, directly or indirectly, to the formation, continuation, or termination of the Individual’s employment relationship with the Company, including but not limited to the Age Discrimination in Employment Act (“ADEA”); (iii) any contract, agreement, or arrangement between, concerning, or relating to the Individual and any of the Released Parties, and any termination of such contract, agreement, or arrangement, including without limitation any Claim to any payments or other compensation or benefits under the Employment Agreement not provided for in this Agreement; (iv) the forfeiture of the applicable Restricted Shares pursuant to this Agreement, the Award Agreement,  or the Plan; and (v) any other alleged act, breach, conduct, negligence, gross negligence, or omission of any of the Released Parties. 

		
	c.
	Claims Excluded.  Notwithstanding any other provision of this Agreement, this release does not (i) waive or release any Claim for breach or enforcement of this Agreement or the Continuing Obligations, including the right to retain the Time-Based Vested Restricted Shares and the Performance-Based Vested Restricted Shares in accordance with the terms and conditions of this Agreement, the Plan, and the Award Agreement; (ii) waive or release any right or Claim that may not be waived or released by applicable law; (iii) waive or release any right or Claim under the ADEA or otherwise that may arise after the date this Agreement is signed by the Individual; (iv) prevent the Individual from pursuing any administrative Claim for unemployment compensation or workers’ compensation benefits; or (v) waive or release any right or Claim the Individual may have for indemnification under applicable state or other law or the charter, articles of incorporation, or by-laws of the Company or CEI, or under any insurance policy of the Company or CEI providing directors’ and officers’ coverage for any lawsuit or claim relating to the period when the Individual was a director, officer, or employee of the Company or CEI; provided, however, that (i) the Individual’s execution of this Agreement is not a concession or guaranty that the Individual has any such right or Claim to indemnification, (ii) this Agreement does not create any additional rights to indemnification, and (iii) the Company and CEI retain any and all defenses they may have to such indemnification or coverage.

		
	d.
	Definition of Released Parties.  The “Released Parties” include (i) the Company and CEI; (ii) any parent, subsidiary, or affiliate of the Company or CEI; (iii) any past or present officer, director, or employee of the entities just described in (i)-(ii), in their individual and official capacities; and (iv) any past or present predecessors, parents, subsidiaries, affiliates, owners, equity holders, members, managers, benefit plans, operating units, divisions, agents, representatives, officers, directors, partners, employees, fiduciaries, insurers, attorneys, successors, or assigns of the entities just described in (i)-(iii).  

		
	e.
	Permitted Activities.  Notwithstanding any other provision of this Agreement but subject to the Individual’s waiver in subparagraph 9(a) below, nothing in this Agreement is intended to, or does, preclude the Individual from (i) contacting, reporting to, responding to an inquiry from, filing a charge or complaint with, communicating with, or otherwise participating in an investigation conducted by, the Equal Employment Opportunity Commission, the Department of Labor, the National Labor Relations Board, the Occupational Safety and Health Administration, the Securities and Exchange Commission (“SEC”), or any other federal, state, 

or local governmental agency, commission, or regulatory body; (ii) giving truthful testimony or making statements under oath in response to a subpoena or other valid legal process or in any legal proceeding; (iii) otherwise making truthful statements as required by law or valid legal process; (iv) engaging in any concerted or other legally protected activities; or (v) disclosing a trade secret in confidence to a governmental official, directly or indirectly, or to an attorney, if the disclosure is made solely for the purpose of reporting or investigating a suspected violation of law.  Accordingly, the Individual understands that he will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that (i) is made (A) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and (B) solely for the purpose of reporting or investigating a suspected violation of law; or (ii) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.  The Individual likewise understands that, if he files a lawsuit for retaliation by the Company for reporting a suspected violation of law, he may disclose the Company’s trade secret(s) to his attorney and use the trade secret information in the court proceeding, if he (i) files any document containing the trade secret under seal; and (ii) does not disclose the trade secret, except pursuant to court order.  In accordance with applicable law and notwithstanding any other provision of this Agreement, nothing in this Agreement or any of the Company’s policies or agreements applicable to the Individual (i) impedes his right to communicate with the SEC or any other governmental agency about possible violations of federal securities or other laws or regulations or (ii) requires his to provide any prior notice to the Company or obtain the Company’s prior approval before engaging in any such communications.   

		
	8.
	Confidentiality; Non-Prosecution; Non-Disparagement; and Cooperation. 

		
	a.
	Confidentiality.  Except as requested by the Company, CEI or the other Released Parties, as permitted above or by law that may supersede the terms of this Agreement, or as compelled by valid legal process, the Individual shall treat as confidential the fact and terms of this Agreement and shall not disclose such information to any party other than his spouse, attorney, and accountant or tax advisor, if such persons have agreed to keep such information confidential.  

		
	b.
	Non-Prosecution.  Except as requested by any of the Released Parties, as permitted above or by applicable law that may supersede the terms of this Agreement, or as compelled by valid legal process, the Individual shall not (i) assist, cooperate with, or supply information of any kind to any individual or private-party litigant or their agents or attorneys concerning (A) the employment, terms and conditions, or ending of the Individual’s or any other employee’s employment with the Company, CEI, or any of the other Released Parties or the employment practices of any of the Released Parties; or (B) the business or operations of any of the Released Parties; or (ii) initiate or assist any other person in connection with any investigation, inquiry, or any other action of any kind with respect to any of the Released Parties’ employment practices, businesses, or operations.

		
	c.
	Non-Disparagement and Waiver of Related Rights.  Except as requested by the Company, CEI, or the other Released Parties, as permitted above or by law that may supersede the terms of this Agreement, or as compelled by valid legal process, the Individual shall not before or after the Separation Date make to any other parties any statement, oral or written, which directly or indirectly impugns the quality or integrity of the Company’s, of CEI’s, or any of the other Released Parties’ business or employment practices, or any other disparaging or derogatory remarks about the Company, CEI, or any of the other Released Parties, their 

officers, directors, equityholders, managerial personnel, or other employees. In executing this Agreement, the Individual acknowledges and agrees that he has knowingly, voluntarily, and intelligently waived any (i) free speech, free association, free press, or First Amendment to the United States Constitution (including, without limitation, any counterpart or similar provision or right under any State Constitution) rights to disclose, communicate, or publish any statements prohibited by this subparagraph and (ii) right to file a motion to dismiss or pursue any other relief under the Oklahoma Citizens Participation Act or similar state law in connection with any claim or cause of action filed against him by the Company, CEI, or any of the other Company Released Parties arising from any alleged breach of this Agreement or the Continuing Obligations. The Company will instruct its senior executive officers and members of its Board not to disparage or defame to third parties the integrity of the Individual in any statement oral or written.  The obligations in the preceding sentence shall not prohibit any truthful statements that are required by applicable law or valid legal process or prohibit the Company’s senior executive officers or Board members  from making any statements to persons within or outside the Company with whom the Company has an actual or prospective business relationship and therefore have a business need to receive the information communicated in such statements.  

		
	d.
	Cooperation.  The Individual shall cooperate fully and completely with the Company, CEI, and any of the other Released Parties, at their request, in all pending and future litigation, investigations, arbitrations, and/or other fact-finding or adjudicative proceedings, public or private, involving the Company, CEI, or any of the other Released Parties.  This obligation includes but is not limited to the Individual promptly meeting with counsel for the Company, CEI, or the other Released Parties at reasonable times upon their request, and providing testimony in court, before an arbitrator or other convening authority, or upon deposition that is truthful, accurate, and complete, according to information known to the Individual.  If the Individual provides cooperation under this subparagraph (including without limitation if the Individual appears as a witness in any pending or future litigation, arbitration, or other fact-finding or adjudicative proceeding at the request of the Company, CEI, or any of the other Released Parties), the Company or CEI, as applicable, shall reimburse him, upon submission of substantiating documentation, for necessary and reasonable out-of-pocket expenses incurred by him as a result of such cooperation (not including attorneys’ fees).

		
	9.
	Waiver of Certain Rights.  

		
	a.
	Right to Relief Not Provided in this Agreement.  The Individual waives any right to monetary recovery from the Company, CEI, or the other Released Parties, whether sought directly by him or in the event any administrative agency or other public authority, individual, or group of individuals should pursue any Claim on his behalf; and he shall not request or accept from the Company, CEI, or the other Released Parties, as monetary compensation or monetary damages related to his employment or the termination of his employment with any of the Released Parties, anything of monetary value that is not provided for in this Agreement. Notwithstanding the previous sentence, this Agreement does not limit the Individual’s right to receive an award for information provided to any governmental agency.  

		
	b.
	Right to Class- or Collective-Action Initiation or Participation. The Individual waives the right to initiate or participate in any class or collective action with respect to any Claim against the Company, CEI, or the Released Parties, including without limitation any Claim arising from the formation, continuation, or termination of his employment relationship with any of the Released Parties.

		
	10.
	No Violations.  The Individual represents and warrants that he has no knowledge that the Company, CEI, or any of the Released Parties has committed or is suspected of committing any act which is or may be in violation of any federal or state law or regulation or has acted in a manner which requires corrective action of any kind.  The Individual further represents and warrants that he has not informed the Company, CEI, or any of the other Released Parties of, and that he is unaware of, any alleged violations of their standards of business conduct or personnel policies, of their integrity or ethics policies, or other misconduct by them, that have not been resolved satisfactorily by the Company, CEI, or the other Released Parties.    

		
	11.
	Remedies; After-Acquired Evidence.  

		
	a.
	Remedies.  Notwithstanding any other provision in this Agreement, the obligation of the Company and CEI to provide the Separation Benefits to the Individual is subject to the condition that he materially complies with his obligations under this Agreement and the Continuing Obligations.  The Company and CEI shall have the right to suspend or cease providing any part of the Separation Benefits if the Company or CEI determines in its sole discretion that the Individual has materially breached any such obligations but all other provisions of this Agreement shall remain in full force and effect.      

		
	b.
	After-Acquired Evidence.  Notwithstanding any provision of this Agreement, if the Company or CEI provides the Separation Benefits to the Individual but subsequently acquires evidence and determines in its sole discretion that (i) he has materially breached any of his obligations under this Agreement or the Continuing Obligations; or (ii) a condition existed prior to payment of the Separation Benefits that, had the Company been fully aware of such condition, would have given the Company the right to terminate his employment for Cause (as defined in the Employment Agreement) before such payment, then (i) the Individual shall promptly return to the Company and CEI, as applicable, the entire Separation Payment received by him prior to the date that the Company or CEI exercises its rights under this subparagraph; and (ii) the Time-Based Vested Restricted Shares and the Performance-Based Vested Restricted Shares retained by the Individual (or any affiliate, transferee, or third party) pursuant to this Agreement shall automatically be forfeited to CEI, without consideration, and without further action on the part of CEI or the Individual (or any affiliate, transferee, or third party), but all other provisions of this Agreement shall remain in full force and effect.

		
	c.
	Non-Exclusive Rights and Remedies.  The rights and remedies of the Company and CEI under this paragraph shall be in addition to any other available rights and remedies should the Individual breach any applicable obligations, as well as rights and remedies available under their clawback policies or procedures which may provide for forfeiture and/or recoupment of amounts paid or payable under this Agreement. 

		
	12.
	Non-Use and Non-Disclosure of Confidential Information.  The Individual shall fully comply with his confidentiality and non-disclosure duties included within the Continuing Obligations and shall treat this Agreement as Confidential Information (as defined in the Employment Agreement) for purposes of the protections under the Employment Agreement.  

		
	13.
	Insider-Trading Obligations.  The Individual acknowledges and agrees that he shall remain subject to the insider-trading policies and procedures of the Company, CEI, and their affiliates through the Separation Date and, as such, may not during such period trade in their securities in accordance therewith until any material, nonpublic information he possesses has become public or is no longer 

material.  The Individual further acknowledges and agrees that he shall remain subject to all federal and state securities laws applicable to the trading of securities of the Company, CEI, or their affiliates while possessing knowledge of material non-public information regarding the Company,  CEI, and their affiliates.

		
	14.
	Nonadmission of Liability or Wrongdoing.  The Individual acknowledges that (a) this Agreement shall not in any manner constitute an admission of liability or wrongdoing on the part of the Company, CEI, or any of the other Released Parties; (b) the Company, CEI, and the other Released Parties expressly deny any such liability or wrongdoing; and, (c) except to the extent necessary to enforce this Agreement, neither this Agreement nor any part of it may be construed, used, or admitted into evidence in any judicial, administrative, or arbitral proceedings as an admission of any kind by the Company, CEI, or any of the other Released Parties. 

		
	15.
	Jury Trial Waiver; Arbitration; Legal Fees and Expenses.  THE INDIVIDUAL HEREBY WAIVES THE RIGHT TO TRIAL BY JURY WITH RESPECT TO ANY CLAIM AGAINST THE COMPANY, CEI, OR ANY OF THE OTHER RELEASED PARTIES ARISING OUT OF OR RELATING TO THIS AGREEMENT, INCLUDING WITHOUT LIMITATION FOR BREACH OR ENFORCEMENT OF THIS AGREEMENT.  The parties agree that Individual’s employment with the Company and this Agreement relate to interstate commerce, and that any Claims between the Individual and the Company, CEI, or their affiliates which may arise out of or relate to the Individual’s employment relationship with the Company or this Agreement shall be settled by arbitration.  This agreement to arbitrate shall survive the termination of this Agreement. Any arbitration shall be in accordance with the then-current Employment Arbitration Rules of the American Arbitration Association and undertaken pursuant to the Federal Arbitration Act. Arbitration shall be held in Oklahoma City, Oklahoma unless the parties mutually agree on another location. The decision of the arbitrator shall be enforceable in any court of competent jurisdiction. The parties agree that punitive, liquidated, or indirect damages shall not be awarded by the arbitrator unless such damages would have been awarded by a court of competent jurisdiction. Nothing in this agreement to arbitrate, however, shall preclude the Company or CEI from obtaining injunctive relief from a court of competent jurisdiction prohibiting any ongoing breaches by the Individual of this Agreement including, without limitation, the Continuing Obligations.  If any Claim arises between the Company or CEI and the Individual regarding any provision of this Agreement, the arbitrator may award to the prevailing party the reasonable attorney fees, costs, and expenses incurred by the prevailing party in connection with such contest or dispute.

		
	16.
	Authority to Execute.  The Individual represents and warrants that he has the authority to execute this Agreement on behalf of all the Releasing Parties.

		
	17.
	Governing Law; Venue; Severability; Interpretation.  This Agreement and the rights and duties of the parties under it shall be governed by the laws of the State of Delaware, without regard to any conflict-of-laws principles.  The provisions of this Agreement shall be severable.  If any one or more provisions of this Agreement may be determined by a court of competent jurisdiction to be illegal or otherwise unenforceable, in whole or in part, such provision shall be considered separate, distinct, and severable from the other remaining provisions of this Agreement, such a determination shall not affect the validity or enforceability of such other remaining provisions, and in all other respects the remaining provisions of this Agreement shall be binding and enforceable and remain in full force and effect.  If any provision of this Agreement is held to be unenforceable as written by a court of competent jurisdiction but may be made to be enforceable by limitation, then such provision shall be enforceable to the maximum limit permitted by applicable law.  The language of all parts of this Agreement shall 

in all cases be construed as a whole, according to its fair meaning, and not strictly for or against any of the parties. 

		
	18.
	Assignment.  The Individual’s obligations, rights, and benefits under this Agreement are personal to him and shall not be assigned to any person or entity without written permission from the Company and CEI.  The Company and CEI may assign this Agreement without the Individual’s further consent to any affiliate or to any successor (whether direct or indirect, by purchase, merger, reorganization, sale, transfer of stock, consolidation, or otherwise) to all or substantially all of their business and/or assets.  This Agreement shall be binding upon and inure to the benefit of the parties and their respective heirs, legal representatives, successors, and permitted assigns.

		
	19.
	Expiration Date.  The Company’s offer of this Agreement shall expire after a period of 21 days after the date the Individual first received this Agreement for consideration (the “Expiration Date”).  Changes to this Agreement, whether material or immaterial, do not restart the running of the consideration period.  The Individual may accept the offer at any time before the Expiration Date by signing this Agreement in the space provided below and returning it to the Company’s Chief Executive Officer so that the signed Agreement is received no later than the close of business on the Expiration Date.

		
	20.
	Limited Revocation Right; Effect of Revocation. After signing this Agreement, the Individual shall have a period of seven days to reconsider and revoke his acceptance of this Agreement if he wishes (the “Revocation Period”). If the Individual chooses to revoke his acceptance of this Agreement, he must do so by providing written notice to the Company’s Chief Executive Officer before the eighth day after signing this Agreement, in which case this Agreement shall not become effective or enforceable and the Individual shall not receive the Separation Benefits.  

		
	21.
	Effective Date.  This Agreement shall become effective and enforceable upon the expiration of seven days after the Individual signs it (the “Effective Date”), provided that he signs the Agreement on or before the Expiration Date and does not revoke his acceptance of the Agreement during the Revocation Period.

		
	22.
	Knowing and Voluntary Agreement.  The Individual acknowledges that (a) he has been advised by this paragraph of his right to consult with an attorney of his choice before signing this Agreement; (b) he has had a reasonable period in which to consider whether to sign this Agreement; (c) he fully understands the meaning and effect of signing this Agreement; and (d) his signing of this Agreement is knowing and voluntary.

		
	23.
	Independent Consideration; Common-Law Duties.  Whether or not expressly stated in this Agreement, all obligations and undertakings the Individual makes and assumes in this Agreement in consideration of the mutual promises and undertakings in this Agreement and the Separation Benefits.  In addition, the Individual acknowledges and agrees that neither the Company, CEI, nor any of the other Released Parties has any legal obligation to provide the Separation Benefits to him outside of this Agreement or the Employment Agreement. 

		
	24.
	Entire Agreement.  This Agreement, the Employment Agreement, the Plan, and the Award Agreement contain and represent the entire agreements of the parties with respect to their subject matters, and supersede all prior agreements and understandings, written and oral, between the parties with respect to its subject matters.  Notwithstanding the preceding sentence, nothing in this Agreement shall be interpreted or construed as relieving the Individual of complying with the Continuing Obligations.  The Individual agrees that neither the Company, CEI, nor any of the other Released Parties has made 

any promise or representation to him concerning this Agreement not expressed in this Agreement, and that, in signing this Agreement, he is not relying on any prior oral or written statement or representation by the Company, CEI, or any of the other Released Parties outside of this Agreement but is instead relying solely on his own judgment and his attorney (if any).

		
	25.
	Modification; Waiver.  No provision of this Agreement shall be amended, modified, or waived unless such amendment, modification, or waiver is agreed to in writing and signed by the Individual and a duly authorized representative of the Company and  CEI.  Notwithstanding the previous sentence, the Company and CEI may amend the Continuing Obligations without the approval of the Individual or any other person to provide for less restrictive limitations as to time, geographical area, or scope of activity to be restrained as set forth in any such Continuing Obligations.  Any such less restrictive limitations may, at the option of the Company or CEI, apply only with respect to the enforcement of the Continuing Obligations in certain jurisdictions specified in any such amendment.  At the request of the Company or CEI, the Individual shall promptly consent to any such amendment and shall execute and deliver to the Company or  CEI a counterpart signature page to such amendment; provided, however, that the failure or refusal to provide such consent shall not negate the validity of the amendment.  

		
	26.
	Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and all of which together shall be considered one and the same agreement.  The delivery of this Agreement in the form of a clearly legible facsimile or electronically scanned version by e-mail shall have the same force and effect as delivery of the originally executed document.

		
	27.
	Internal Revenue Code Section 409A.  The payments and benefits provided under this Agreement are intended to satisfy the requirements of Section 409A of the Internal Revenue Code (“Code Section 409A”) and this Agreement shall be interpreted and administered in a manner consistent with that intent; provided, however, that no persons connected with this Agreement in any capacity, including but not limited to the Company, CEI, and their affiliates, and their respective directors, officers, agents and employees, makes any representation, commitment or guarantee that any tax treatment, including but not limited to, federal, state and local income, estate and gift tax treatment, will be applicable with respect to any amounts payable under the Agreement or that such tax treatment will apply to the Individual.

		
	28.
	Third-Party Beneficiaries.  The Released Parties besides the Company and CEI are intended to be third-party beneficiaries of this Agreement and therefore may enforce this Agreement.  

		
	29.
	Responsibility for Certain Taxes; Right to Consult a Tax Advisor.  Notwithstanding any contrary provision in this Agreement, the Individual shall be solely responsible for any risk that the tax treatment of all or part of the payments provided by this Agreement may be affected by Code Section 409A, which may impose significant adverse tax consequences on him, including accelerated taxation, a 20% additional tax, and interest.  The Individual therefore has the right, and is encouraged by this paragraph, to consult with a tax advisor of his choice before signing this Agreement.      

[Signature Page Follows]

AGREED as of the dates signed below:

	
			
	CHAPARRAL ENERGY, LLC

	 
	 
	 

	By:
	 
	/s/ K. Earl Reynolds

	 
	 
	K. Earl Reynolds

	 
	 
	Chief Executive Officer

	Date Signed:
	 
	2/14/19

	
			
	JOSEPH EVANS

	 
	 
	 

	By:
	 
	/s/ Joseph Evans

	 
	 
	Joseph Evans

	Date Signed:
	 
	2/14/19

	
			
	CHAPARRAL ENERGY, INC.

	 
	 
	 

	By:
	 
	/s/ K. Earl Reynolds

	 
	 
	K. Earl Reynolds

	 
	 
	Chief Executive Officer

	Date Signed:
	 
	2/14/19Exhibit 10.8.10

		

			Exhibit 10.8.10

		

		
			MRC Global Inc.
		

		
			Performance Share Unit Award Agreement
		

		
			(Feb. 2019 rev)
		

		
			This Performance Share Unit Award Agreement (this “Agreement”) is made as of [Month Day, Year] (the “Grant Date”), between MRC Global Inc., a Delaware corporation (the “Company”), and [__________] (the “Participant”).
		

		
			Grant of Performance Share Unit.  The Company hereby grants to the Participant an award (this “Award”), under and pursuant to the MRC Global Inc. 2011 Omnibus Incentive Plan (the “Plan”), under which the Participant is granted the right to earn _____ Shares at target performance and up to ___% of that number of Shares at maximum performance (each, a “Performance Share Unit”) in respect of the three-year period (the “Performance Period”) commencing on January 1, 20___ (the “First Day of the Performance Period”) and ending on December 31, 20___ (the “Last Day of the Performance Period”, including as it may be modified in Section 5).  This Award is subject to Participant’s execution and return of this Agreement to the Company (including as Section 27 provides).  The Award is subject to all of the applicable provisions of the Plan that apply to Other-Stock Based Awards, is intended to be Performance-Based Compensation in accordance with Article 14 of the Plan and is subject to the applicable terms of the Plan that are incorporated in this Agreement by reference.  To the extent that any provision of this Agreement conflicts with the terms of the Plan, the Participant acknowledges and agrees that the terms of the Plan shall control and, if necessary, the applicable provisions of this Agreement shall be deemed amended so as to carry out the purpose and intent of the Plan.  Capitalized terms used herein without definition shall have the same meanings given such terms in the Plan.
		

		
			Overview of Performance Share Units.
		

		
			Performance Share Unit Generally. Each Performance Share Unit represents a contractual right to earn one Share under the terms and conditions of this Agreement.  The number of Shares that the Participant earns shall be determined based on the extent to which the Company achieves the applicable performance goals set forth in this Agreement.  The Participant’s right to earn up to 50% of the Performance Share Units at Target is determined under provisions of Section 3 (the “Relative TSR Performance Share Units”), and the Participant’s right to earn up to the remaining 50% of the Performance Share Units at Target is determined under Section 4 (the “RANCE Performance Share Units”).  The Participant’s right to receive Shares in respect of a Performance Share Unit is generally contingent, in whole or in part, upon Participant’s continued employment with the Company or one of its Subsidiaries (collectively, the Company with all of its Subsidiaries, the “Company Group”) through the Last Day of the Performance Period, except as provided in Section 5.
		

		
			Dividend Equivalents. With respect to each outstanding Performance Share Unit, the Company shall credit a book entry account with an amount equal to the amount of any cash dividend paid on one Share that could be earned under the Performance Share Unit during the Performance Period. The amount credited to the book entry account shall be payable to the 
		

		 

 

		Participant at the same time or times, and subject to the same terms and conditions, as applicable to the Participant’s Performance Share Units but only with respect to Shares the Participant actually earns under the Performance Share Units.  If the Participant either forfeits or does not earn Shares under this Agreement at the end of the Performance Period, the deferred dividends or distributions only with respect to the unearned or forfeited Shares shall also be forfeited. Dividends and distributions payable on Shares other than in cash are addressed in accordance with Section 23.
		

		
			Calculation of Earned Shares – Relative TSR Performance Share Units.  The number of Shares that the Participant earns under the Relative TSR Performance Share Units, if any, with respect to the Performance Period is determined by the schedule below, with each Relative TSR Performance Unit capable of earning one Share:
		

			
					
						
Relative TSR

					
					
						Percentage of Target
Relative TSR Performance Share Units Earned *

				
	
					
						﻿

					
					
						 

				
	
					
						﻿

					
					
						 

				
	
					
						﻿

					
					
						 

				
	
					
						﻿

					
					
						 

				
	
					
						﻿

					
					
						 

				

		
			
*For any amounts calculated under this Section 3 that fall between two percentiles set forth in the left column above that are between the ___ percentile and the ___ percentile, the percentage of the number of Shares that the Participant earns under the Relative TSR Performance Share Units shall be interpolated in a straight line between the two relevant percentiles.  
		

		
			“Relative TSR” means the percentile rank of the Company’s TSR for the Performance Period as compared to the TSR of each of the other companies included in the OSX Index on the Last Day of the Performance Period.  
		

		
			“TSR” of the Company and each other relevant company shall be determined by dividing: 
		

		
			(a) the sum of:
		

		
			(i) the cumulative amount of dividends or similar equity distributions during the Performance Period, assuming reinvestment of dividends or distributions, and 
		

		
			(ii) the Average Share Price of the Company or such other company as of the Last Day of the Performance Period minus the Average Share Price of the Company or such other company as of the First Day of the Performance Period by 
		

		
			(b) the Average Share Price of the Company or such other company as of the First Day of the Performance Period, 
		

		
			with such amount expressed as a percentage so that the Company and each of the companies in the OSX Index may be ranked in order from the highest TSR to the lowest TSR and the relative ranking of the Company within that order may be determined (references to rank in this Agreement 
		

		 

		

			2

		

		

			 

		

 

		are determined from the lowest return so that, for example, the 35th percentile is the 35th percentile from the lowest TSR of the companies in the OSX Index).
		

		
			“Average Share Price” means the average of the closing prices of a Share or a share or other equity unit of each other relevant company on each trading day in the 20-trading day period ending on and including the applicable date of determination.  Dividends per share paid other than in the form of cash shall have a value equal to the amount of the dividends that the Company or other relevant company reports to its shareholders or equity holders for purposes of U.S. federal income taxation.
		

		
			“OSX Index” means the Philadelphia Oil Service Sector Index (or its successor index or, if the Philadelphia Oil Service Sector Index is discontinued, a comparable index or group of companies that the Committee determines is an appropriate comparator group).
		

		
			“Target Relative TSR Performance Units” means 50% of the target Performance Share Units listed in Section 1.
		

		
			Calculation of Earned Shares – RANCE Performance Share Units.  If the Company has positive Net Income for the Performance Period, then the number of Shares that the Participant earns under the RANCE Performance Share Units, if any, with respect to the Performance Period is determined by the schedule below, with each RANCE Performance Unit capable of earning one Share:
		

			
					
						
RANCE

					
					
						Percentage of Target
RANCE Performance Share Units Earned *

				
	
					
						﻿

					
					
						 

				
	
					
						﻿

					
					
						 

				
	
					
						﻿

					
					
						 

				
	
					
						﻿

					
					
						 

				
	
					
						﻿

					
					
						 

				

		
			
* For any amounts calculated under this Section 4 that fall between two percentages set forth in the left column above that are between ___ and ___, the percentage of the number of Shares that the Participant earns under the RANCE Performance Share Units shall be interpolated in a straight line between the two relevant percentages.  
		

		
			If the Company has no positive Net Income for the Performance Period, then the Participant’s rights to earn any RANCE Performance Share Units shall lapse and be forfeited on the Last Day of the Performance Period.
		

		
			“Net Income” means the Company’s net income in accordance with U.S. generally accepted accounting principles (“GAAP”).
		

		
			“RANCE” means the Company’s cumulative NOPAT for the Performance Period divided by the Company’s Average NCE, which quotient is then divided by 3 (or such other appropriate divisor if necessary pursuant to Section 5).
		

		 

		

			3

		

		

			 

		

 

		
			“NOPAT” means the Company’s Net Income plus tax effected interest expense plus preferred stock dividends.
		

		
			  “NCE” means the aggregate value of the Company outstanding equity (including preferred stock) plus the aggregate amount of the Company’s long-term, interest bearing debt, as of the date of determination.
		

		
			“Average NCE” means the average of the Company’s NCE on the first and last day of each calendar year during the Performance Period.
		

		
			“Target RANCE Performance Units” means the other 50% of the target Performance Share Units listed in Section 1 that are not Target Relative TSR Performance Units.
		

		
			All amounts calculated under this Section 4 shall be based on the Company’s financial statements prepared in accordance with GAAP.
		

		
			Additional Rules for Determining Earned Performance Share Units Upon Death, Disability, Change in Control or Retirement.  Notwithstanding Sections 3 and 4, a Participant shall earn Shares with respect to the Performance Share Units upon the occurrence of certain events as follows:
		

		
			Death or Disability.  Upon the Participant’s death or Disability at any time on or after the Grant Date and prior to the date on which payment in respect of Performance Share Units has been made, the Participant (or Participant’s beneficiary, executor, administrator or other legal representative) will earn the number of the Shares that would have been actually awarded after completion of the Performance Period, prorated based on the number of years the Company employed the Participant in the Performance Period prior to Participant’s Death or Disability, rounded up to the nearest whole year.  
		

		
			Change in Control.  Upon a Change in Control that occurs during the Performance Period and prior to the Participant’s Termination due to death, Disability or Retirement, for purposes of determining the number of earned Shares under the Performance Share Units, the closing date of the transaction that constitutes the Change in Control (the “Change in Control Date”) shall be deemed the Last Day of the Performance Period.
		

		
			Retirement.  If the Participant’s employment with the Company and its Subsidiaries Terminates during the Performance Period and either:
		

		
			the Participant is at least 65 years of age, or 
		

		
			the Participant’s age plus years of service equal to at least 80,
		

		
			in each case, upon that Termination, the Award shall not terminate and the Participant will earn the number of Shares with respect to the Performance Period that the Participant would have been actually awarded had the Participant not Terminated employment with the Company and its Subsidiaries. Any Termination described in clause (a) or (b) of this Section 5.3 shall be referred to as a “Retirement” for the purposes of this Agreement.   
		

		

		

		 

		

			4

		

		

			 

		

 

		Notwithstanding the foregoing, for this Section 5.3 to have effect, the following must be satisfied:
		

		
			(A)the Participant must remain employed with the Company on or after the first anniversary of the Grant Date unless the Committee waives this requirement, and
		

		
			(B)the Participant must not engage in a “Prohibited Activity” as defined on Exhibit A prior to the payment of earned Shares in respect of the Performance Share Units. 
		

		
			Termination under an Employment Agreement.  This Section 5.4 shall apply if, and only if, the Participant and the Company have entered into an employment agreement that provides for continued vesting of a long-term equity award after the Participant is Terminated without Cause or Terminates with Good Reason (each as defined in the Participant’s employment agreement).  If the Participant is Terminated without Cause or Terminates for Good Reason, under the terms of the employment agreement, prior to the date on which payment in respect of Performance Share Units has been made, the Participant (or Participant’s beneficiaries, executor, administrator or other legal representative) will earn the number of the Shares that would have been actually awarded after completion of the Performance Period, prorated based on the number of days the Company employed the Participant in the Performance Period prior to Participant’s Termination plus any period of continued vesting in the Performance Period after the Termination that Participant’s employment agreements requires, subject to the terms of that employment agreement.  
		

		
			Conversion of Performance Share Units.  
		

		
			Time of Payment or Conversion of Performance Share Units.  
		

		
			Except in the case of Shares earned pursuant to the provisions of Section 5.2, payment in respect of earned Performance Share Units shall be made on the March 1 following the Last Day of the Performance Period; provided that no payment shall be made until the Committee determines, and, with respect to Covered Employees, certifies, the extent to which the performance objectives have been met over the Performance Period.
		

		
			In the case of Shares earned under Performance Share Units pursuant to the provisions of Section 5.2, payment in respect of the Performance Share Units (whether Shares or the per Share consideration to be received in the transaction constituting the Change in Control) shall be made within five days of the date of the closing of the transaction constituting the Change in Control; however, if the transaction constituting the Change in Control is not a change in control event as described under Treas. Reg. § 1.409A-3(i)(5)(i), payment in respect of the Performance Share Units shall be made on the March 1 following the deemed Last Day of the Performance Period. 
		

		
			Form of Conversion and Settlement.  All payments in respect of earned Performance Share Units shall be made in Shares unless the Board or the Committee determines Shares are not available for payment, in which case payment shall be made in cash based on the Fair Market Value of the Shares on the date that payment is required.  Certificates or evidence of book-entry shares representing any Shares that Participant has earned pursuant to this Agreement shall be 
		

		 

		

			5

		

		

			 

		

 

		delivered to the Participant (or, at the discretion of the Participant, jointly in the names of the Participant and the Participant’s spouse), the Participant’s beneficiary or estate, if applicable, or to the Participant’s nominee. Any fractional earned Shares shall be rounded down to the nearest whole Share.
		

		
			Effect of Conversion and Settlement.  Upon conversion into Shares, all of Participant’s Performance Share Units shall be cancelled and terminated.  If and to the extent that Participant is still employed at the end of the Performance Period, and the Participant has not earned Shares under the Performance Share Units in accordance with the terms of this Agreement, all such Performance Share Units shall be cancelled and terminated.
		

		
			Forfeiture
		

		
			Termination of Employment.  Any portion of the Award that has not vested or otherwise has been earned as of the day following the date of the Participant’s Termination for any reason other than Retirement, death or Disability or under Section 5.4 shall be forfeited upon the Termination, and all Shares that may have been issued under the Award that were not earned shall be treated as the terms of the Plan provide.  
		

		
			Retirement or Termination without Cause or for Good Reason.  In the case of a Termination by reason of Retirement, if the Participant engages in any Prohibited Activity (as defined in Exhibit A) prior to the date of payment of any vested or earned Shares under Performance Share Units, any portion of the Award that has not been earned, issued or delivered may, in the sole discretion of the Committee, be immediately cancelled; and, in that case, all Shares that have not been issued or delivered shall be forfeited, cancelled and terminate without payment of any consideration therefor.  If the Company receives an allegation of a Prohibited Activity, the Company, in its sole discretion, may suspend the payment of any Award for up to three months to permit the investigation of the allegation. If the Company determines that the Participant did not engage in any Prohibited Activities, the Company shall deliver any Shares that would have otherwise been earned but for the suspension.    
		

		
			Restrictive Covenant.  In consideration of the Award, Participant agrees not to engage in Prohibited Activity during Participant’s employment with the Company Group and for a period of [CEO or President: 24][EVPs: 18][SVPs: 12] months after Participant’s Termination of employment with the Company Group (the “Restricted Period”).  If the Participant engages in a Prohibited Activity during the Restricted Period, the Company or its appropriate Subsidiaries may seek an injunction from a court of competent jurisdiction to prevent Participant from engaging in the Prohibited Activity during the Restricted Period without the necessity of posting bond or other security to obtain the injunction.  Both the Company and the Participant agree that monetary damages alone are an insufficient remedy for breach of the foregoing covenant.  The Company or its appropriate Subsidiaries may seek monetary damages in addition to an injunction, and the covenant in favor of the Company Group in this Agreement is in addition to, and not in lieu of, any similar covenants that Participant may have entered into in favor of any member of the Company Group in any employment or other agreement.  To the extent that a court of competent jurisdiction rules that the restrictions in the foregoing covenant are too broad, these restrictions shall be interpreted and construed in the broadest possible manner to provide the Company Group the broadest possible protection, including (without limitation) with respect to geographic 
		

		 

		

			6

		

		

			 

		

 

		coverage, activities of the Company Group’s businesses and time of applicability of the restrictions. 
		

		
			No Right to Continued Employment.  Nothing in this Agreement shall interfere with or limit in any way the right of the Company or its Subsidiaries to Terminate the Participant’s employment, nor confer upon the Participant any right to continuance of employment by the Company or any of its Subsidiaries or continuance of service as a Board member.
		

		
			Withholding of Taxes.  Prior to the delivery to the Participant (or the Participant’s beneficiary) of Shares upon the conversion of a Performance Share Unit, the Participant (or the Participant’s beneficiary) shall be required to pay to the Company (or any Affiliate that employs the Participant), and the Company (or any Affiliate that employs the Participant) shall have the right and is hereby authorized to withhold, any applicable withholding taxes in respect of the Award, or any payment or transfer under, or with respect to, the Award, and to take such other action as may be necessary in the opinion of the Committee to satisfy all obligations for the payment of such withholding taxes.  The Participant may elect to satisfy the withholding requirement, in whole or in part, by having the Company withhold from a payment the number of Shares having a Fair Market Value on the date the withholding is to be determined equal to the required withholding amount.  The Participant shall be solely responsible for the payment of all taxes relating to the payment or provision of any amounts or benefits under this Agreement. 
		

		
			No Guarantee of Interests. The Board and the Company do not guarantee the Shares from loss or depreciation.
		

		
			Modification of Agreement.  This Agreement may be modified, amended, suspended or terminated, and any terms or conditions may be waived, but only by a written instrument executed by the parties hereto, except as otherwise permitted under the Plan.
		

		
			Severability.  Should any provision of this Agreement be held by a court of competent jurisdiction to be unenforceable or invalid for any reason, the remaining provisions of this Agreement shall not be affected by such holding and shall continue in full force in accordance with their terms.
		

		
			Governing Law.  The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the jurisdiction set forth in the Plan, without giving effect to the conflicts of laws principles thereof.
		

		
			Securities Laws.  Upon the payment of any Shares pursuant to this Agreement, the Participant shall make written representations, warranties and agreements as the Committee may reasonably request to comply with applicable securities laws or with this Agreement.
		

		
			Legend on Certificates.  The certificates representing the Shares issued pursuant to this Award, if any, shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the Plan or under applicable state and federal securities or other laws, or under any ruling or regulation of any governmental body or national securities exchange unless an exemption to such registration or qualification is available and satisfied.  The Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions.
		

		

		

		 

		

			7

		

		

			 

		

 

		Underwriter Lockup Agreement.In the event of any underwritten public offering of securities by the Company, the Participant agrees to the extent requested in writing by a managing underwriter, if any, not to sell, transfer or otherwise dispose of any Shares acquired pursuant to this Award (other than as part of such underwritten public offering) during the time period reasonably requested by the managing underwriter, not to exceed 180 days or such shorter period as such managing underwriter may permit.
		

		
			Successors in Interest.  This Agreement shall inure to the benefit of and be binding upon any successor to the Company.  This Agreement shall inure to the benefit of the Participant’s legal representatives and beneficiaries.  All obligations imposed upon the Participant and all rights granted to the Company under this Agreement shall be binding upon the Participant’s beneficiaries, heirs, executors, administrators and successors.
		

		
			Resolution of Disputes.  Any dispute or disagreement which may arise under, or as a result of, or in any way relate to, the interpretation, construction or application of this Agreement shall be determined by the Committee.  Any determination made hereunder shall be final, binding and conclusive on the Participant, the Participant’s beneficiaries, heirs, executors, administrators and successors, and the Company and its Subsidiaries for all purposes.  By accepting the grant pursuant to this Agreement, the Participant confirms that Participant is subject to the policies of Participant’s employing company within the Company Group (except as may be specifically modified in an employment agreement), including (without limitation) any policy requiring mandatory arbitration of employment disputes and the grant pursuant to this Agreement is further consideration of those policies.
		

		
			No Liability for Good Faith Determinations. None of the Company, Board or the members of the Board shall be liable for any act, omission or determination taken or made in good faith with respect to this Agreement or the Performance Share Units.
		

		
			Non-Transferability.  Subject to the terms of the Plan, no rights under this Agreement shall be transferable otherwise than by will, the laws of descent and distribution or pursuant to a qualified Domestic Relations Order (“QDRO”), and, except to the extent otherwise provided herein, the rights and the benefits of the Agreement may be exercised and received, respectively, during the lifetime of the Participant only by the Participant or by the Participant’s executor, administrator, guardian or other legal representative or by an “alternate payee” pursuant to a QDRO. Following Participant’s death, any Shares distributable in respect of Performance Share Units will be delivered or paid, at the time specified in Section 6.1(a), in accordance with, and subject to, the terms and conditions of this Agreement and of the Plan.
		

		
			Beneficiary Designation.  Participant may from time to time name any beneficiary or beneficiaries (who may be named contingently or successively) to whom shall be delivered or paid under this Agreement following Participant’s death any Shares that are distributable or cash payable hereunder in respect of Participant’s Performance Share Units at the time specified in Section 6.1(a).  Each designation will revoke all prior designations, shall be in a form prescribed by the Board, and will be effective only when filed in writing with the Board during Participant’s lifetime. In the absence of an effective beneficiary designation, Shares issuable in connection with Participant’s death shall be paid to Participant’s executor, administrator or other legal representative.
		

		
			
		

		 

		

			8

		

		

			 

		

 

		Adjustments in Respect of Performance Share Units. In the event of any stock dividend or stock split, recapitalization (including, but not limited to, the payment of an extraordinary dividend), merger, consolidation, combination, spin-off, distribution of assets to stockholders (other than cash dividends), exchange of shares, or other similar corporate change with regard to the Company, the Board or Committee may make appropriate adjustments to the aggregate number of Performance Share Units. The Board’s or the Committee’s determination with respect to any such adjustment shall be conclusive.
		

		
			Recoupment.  If Participant is subject to the Company’s Executive Compensation Clawback Policy in effect on the Grant Date, Participant agrees that the Award is subject to the terms of the policy as it exists on the Grant Date.  
		

		
			Entire Agreement.  This Agreement constitutes the entire understanding between the Participant and the Company and its Subsidiaries with respect to the Award, and supersedes all other agreements, whether written or oral, with respect to the Award.
		

		
			Headings; References.  The headings of this Agreement are inserted for convenience only and do not constitute a part of this Agreement.  Unless the context clearly requires to the contrary, references in this Agreement to Sections mean the sections of this Agreement; references to the singular include the plural, and vice versa; and references to Awards, Relative TSR Performance Share Units, RANCE Performance Share Units or Performance Share Units mean the Awards, Relative TSR Performance Share Units, RANCE Performance Share Units or Performance Share Units subject to this Agreement.
		

		
			Counterparts and Electronic Administration.  This Agreement may be executed simultaneously in two or more counterparts, each of which shall constitute an original, but all of which taken together shall constitute one and the same agreement.  This Agreement may be signed by indicating assent to be bound by this Agreement through an electronic trading system that the Company establishes or sponsors rather than a physical signature.  
		

		
			MRC Global Inc.
		

		
			﻿
		

		
			﻿
		

		
			By:
		

		
			Name:
		

		
			Title:
		

		
			﻿
		

		
			﻿
		

		
			Participant
		

		
			﻿
		

		
			﻿
		

		
			By:
		

		
			Name:
		

		
			Title:
		

		

		

		 

		

			9

		

		

			 

		

 

		
		

		
			Exhibit A
		

		
			﻿
		

		
			Non-Competition and Non-Solicitation
		

		
			﻿
		

		
			 A “Prohibited Activity” shall be deemed to have occurred, if the Participant: 
		

		
			﻿
		

		
			(i) divulges any non-public, confidential or proprietary information of the Company or of its past or present Subsidiaries (collectively, the “Company Group”), but excluding information that: 
		

		
			﻿
		

		
			(a) becomes generally available to the public other than as a result of the Participant’s public use, disclosure, or fault, 
		

		
			﻿
		

		
			(b) becomes available to the Participant on a non-confidential basis after the Participant’s employment termination date from a source other than a member of the Company Group prior to the public use or disclosure by the Participant; provided that the source is not bound by a confidentiality agreement or otherwise prohibited from transmitting the information by a contractual, legal or fiduciary obligation,
		

		
			﻿
		

		
			(c) is independently developed, discovered or arrived at by the Participant without using any of the information from the Company Group, or
		

		
			﻿
		

		
			(d) is disclosed by the Participant pursuant to a requirement of law, court order or legal, governmental, judicial, regulatory or similar process, or
		

		
			﻿
		

		
			(ii) directly or indirectly, consults with, becomes a director, officer or partner of, conducts, participates or engages in, or becomes employed by, any business that is competitive with the business of any current member of the Company Group, wherever from time to time conducted throughout the world, including situations where the Participant solicits or participates in or assists in any way in the solicitation or recruitment, directly or indirectly, of any employees of any current member of the Company Group.  For the avoidance of doubt, businesses that compete with the Company’s business include (without limitation) the distribution business to the energy industry of [current competitors] and their successors.
		

		
			﻿
		

		 

		

			10

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