Document:

EX-10.8

 Exhibit 10.8 

EMPLOYMENT AGREEMENT 

This EMPLOYMENT AGREEMENT (the “Agreement”) is entered into as of the 9th day of October, 2015, between Foundation Building
Materials, LLC (the “Company”) and Pete Welly (the “Employee”) (each of the foregoing individually a “Party” and collectively the “Parties”). 

WHEREAS, the Company wishes to employ the Employee and the Employee wishes to be employed by the Company, in each case, on the terms and
conditions set forth herein. 
 NOW, THEREFORE, in consideration of the covenants, promises and representations set forth herein, and for
other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the Parties hereto, intending to be legally bound, hereby agree as follows: 

1. Employment. The Employee’s employment hereunder shall commence on the Closing Date (as defined in such agreement) of the
transactions contemplated by that certain Transaction Agreement dated as of August 19, 2015, by and among CI (FBM) Holdings LLC, CI FBM AIV Mini-Master L.P., FBM AIV Blocker Inc., FBM AIV Blocker II Inc., FBM Intermediate Inc., FBM Intermediate
Holdings LLC, CI Capital Investors II, L.P., CI Capital Investors II (AIV-A), L.P., CI Capital Investors II (AIV), L.P., and LSF9 Cypress Holdings LLC (the “Purchase Agreement”), or such other date as may be mutually agreed between
the Parties (the “Effective Date”) and end on the date the Employee’s employment is terminated pursuant to Section 3 hereof (the “Employment Period”). In the event that the Purchase Agreement is terminated
in accordance with its terms prior to the Closing of the transactions contemplated thereby, this Agreement shall immediately terminate and be null and void and without effect. During the Employment Period, the Employee will devote his full business
time and use his best efforts to advance the business and welfare of the Company and its subsidiaries and affiliates and will not engage in (i) any other employment or business activities, or (ii) any other activities for any direct or
indirect remuneration that would be harmful or detrimental to the business and affairs of the Company or that would materially interfere with his duties hereunder. The foregoing, however, shall not preclude the Employee from serving on civic or
charitable boards or committees, managing personal or family investments, or engaging in such other activities as the Board of Directors of the Company or its equivalent (such entity, the “Board”) may approve from time to time, so
long as such activities do not materially interfere with the performance of the Employee’s responsibilities hereunder. 
 2.
Compensation. 
 (a) Base Salary. During the Employment Period, the Employee shall receive a base salary at a rate of $300,000
per annum, which shall be paid in accordance with the customary payroll practices of the Company, and shall be subject to review on an annual basis as determined by the Board or a committee thereof (the “Base Salary”). The
Employee’s Base Salary shall not be subject to decrease, other than a reduction which is part of a general cost reduction approved by the Board affecting other similarly situated employees and which does not exceed ten percent (10%) of the
Employee’s then Base Salary when combined with any such prior reductions. 

 (b) Annual Bonus. With respect to each calendar year ending during the Employment Period,
in addition to the Base Salary, the Employee may be eligible to earn an annual cash performance bonus based upon the achievement of performance targets established by the Board (or a committee thereof). The target amount for such annual cash
performance bonus shall be no less than 100% of Base Salary (the “Target Bonus”), and any actual bonus shall be determined in accordance with the terms of the annual cash performance bonus plan as in effect from time to time. Except
as otherwise provided in Section 3, in order to receive payment of any such annual cash performance bonus, the Employee must be continuously employed by the Company or any of its subsidiaries through the date of actual payment. 

(c) Participation in Benefit Plans. During the Employment Period, the Employee shall be entitled to receive all perquisites and
participate in all benefit plans, programs and policies maintained by the Company from time to time that are available generally to its similarly-situated senior executives; provided, however, that the Employee’s right to receive such
perquisites and participate in such plans, programs and policies shall not affect the Company’s right to amend or terminate the general applicability of such perquisites, plans, programs and policies. The Company may, in its sole discretion and
from time to time, amend, eliminate or establish benefit programs as it deems appropriate. 
 (d) Expenses. The Company shall
reimburse the Employee for all reasonable travel and other business expenses incurred by him in the performance of his duties to the Company in accordance with the Company’s applicable expense reimbursement policies and procedures. Any expenses
shall be reimbursed promptly in accordance with such policies and procedures. 
 (e) Paid Time Off. The Employee shall be entitled to
such periods of paid time off (“PTO”) each year as provided from time to time under the Company’s PTO policy and as otherwise provided for similarly situated employees. 

(f) Perquisites. During the Employment Period, the Employee shall be reimbursed for all dues and other business related costs required
to maintain the Employee’s membership in the Big Canyon Country Club. Notwithstanding the foregoing, no payments or reimbursements shall be made under this Section 2(f) on or after the first date that the Company experiences any material
default under the any of the Company’s credit agreements. For these purposes, a “material default” shall include any payment default or any violation of any negative covenant under such agreements. 

3. Termination of Employment. Subject to the further provisions of this Section 3, the Employment Period and the Employee’s
employment hereunder may be terminated by either Party at any time and for any or no reason; provided, however, that the Company and the Employee will be required to give written notice of any termination of the Employee’s employment as
set forth in this Section 3. Notwithstanding any other provision of this Agreement, the provisions of this Section 3 shall exclusively govern the Employee’s rights to compensation and benefits upon termination of employment with the
Company. 
 (a) Notice of Termination. Any termination or resignation of the Employee’s employment by the Company or by the
Employee, as applicable, under this Section 3 (other than 

  
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termination of employment as a result of the Employee’s death) shall be communicated by a written notice (a “Notice of Termination”) to the other Party hereto
(i) indicating whether the termination is for or without Cause (as defined below) or the resignation is for or without Good Reason (as defined below), (ii) indicating the specific termination provision in this Agreement relied upon, and
(iii) specifying a date of termination (the “Date of Termination”), which, if submitted by the Employee, shall be thirty (30) days following the date of such notice (or the first business day following the last day of the
Cure Period, in the case of Employee’s resignation for Good Reason, or such other date as mutually agreed by the Company and the Employee). 

(b) Accrued Rights. Upon a termination of the Employee’s employment for any reason, the Employee (or the Employee’s estate)
shall be entitled to receive the sum of the Employee’s Base Salary through the Date of Termination not theretofore paid (payable as soon as practicable following, but in all events within 30 days of the Date of Termination); any unreimbursed
business expenses; and any amount arising from the Employee’s participation in, or benefits under, any employee benefit plans, programs or arrangements (including without limitation, any disability or life insurance benefit plans, programs or
arrangements), which amounts shall be payable in accordance with the terms and conditions of such employee benefit plans, programs or arrangements (collectively, the “Accrued Rights”). 

(c) Termination by the Company without Cause or Resignation For Good Reason. If the Employee’s employment shall be terminated by
the Company without Cause (and not by reason of Employee’s death or Disability), or by the Employee for Good Reason, then, in addition to the Accrued Rights, the Company shall (subject to the Employee’s execution, within twenty-one
(21) days following receipt, of a waiver and general release of claims in substantially the form attached hereto as Exhibit A (the “Release”), and such Release becoming effective and irrevocable in accordance with its terms
within thirty (30) days following the Date of Termination): 
 (i) pay to the Employee any annual bonus earned by the
Employee pursuant to Section 2(b) for any calendar year completed prior to the Date of Termination that remains unpaid as of the Date of Termination (payable at the same time as such annual bonuses are paid to executives generally); 

(ii) pay to the Employee the annual bonus earned by the Employee pursuant to Section 2(b) for the calendar year that
includes the Date of Termination (based on actual performance during such year), which amount shall be pro-rated to reflect the number of days that the Employee was employed by the Company during such calendar year and which shall be payable at the
same time as such annual bonuses are paid to executives generally; and 
 (iii) pay to the Employee, in accordance with the
Company’s regular payroll practice following the Date of Termination, the Employee’s Base Salary (as in effect immediately prior to the Date of Termination) for a period of twelve (12) months following the Date of Termination. 

  
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 Notwithstanding the foregoing, (x) any payments pursuant to this Section 3(c) that would otherwise be
payable in the first thirty (30) days following the Date of Termination shall be withheld and become payable in a lump sum on the thirtieth (30th) day following the Date of Termination
and (y) the Company shall not be obligated to make any such payments described in this Section 3(c) after the date the Employee first violates any of the restrictive covenants set forth in Section 4. 

(iv) “Cause” shall be deemed to exist if any of the following items shall apply: (i) a material breach of
any written agreement between the Employee and the Company or any affiliate, including, without limitation, a breach by the Employee of the Employee’s obligations under this Agreement or any other written agreement between the Employee and the
Company or an affiliate; (ii) ongoing and repeated non-performance by the Employee of his duties and responsibilities to the Company (other than any such non-performance resulting from the Employee’s incapacity due to physical or mental
illness or any such non-performance after his issuance of a written notice to the Company of his intention to resign for Good Reason), intentional or negligent misconduct by the Employee in the performance of his duties to the Company a material
violation by the Employee of any written policies of the Company or the specific written and lawful directions of the Board or Employee’s direct supervisor; (iii) a breach of any fiduciary duty which the Employee owes to the Company or any
affiliate in his capacity as an employee or officer; (iv) the conviction or plea of guilty or no contest by the Employee with respect to (A) a felony or (B) embezzlement, dishonesty, a crime involving moral turpitude, or intentional
and actual fraud; (v) the use of illicit drugs or other illicit substances or the abuse of licit drugs or other substances on Company premises or during the performance of the Employees duties or that otherwise causes material harm to the
Company or any affiliate; or (vi) an unexplained absence from work for more than ten (10) days in any twelve (12) month period (vacation, Company-approved personal leave, Company-approved sick leave, and Disability excepted). The
Employee’s employment will be deemed to have been terminated for Cause if it is determined subsequent to his termination of employment that grounds for termination of his employment for Cause existed at the time of his termination of
employment. 
 (v) “Good Reason” shall be deemed to exist if, without the Employee’s consent:
(A) there is a material diminution in the duties, responsibilities, or authority of the Employee; (B) there is a reduction in the Employee’s then Base Salary and Target Bonus, other than a reduction which is part of a general cost
reduction affecting other similarly situated employees and which does not exceed ten percent (10%) of the Employee’s then target base compensation in the aggregate when combined with any such prior reductions; or (C) there is a
material breach by the Company of any agreement between the Employee and the Company or any affiliate, including, without limitation, a material breach by the Company of the Company’s obligations under this Agreement or any other agreement
between the Employee and the Company or an affiliate. In each such case of Good Reason, the Employee shall provide the Company with written notice of the grounds for a Good Reason termination within ninety (90) days of the initial occurrence
thereof, and the Company shall have a period of thirty (30) days to cure after receipt of the written notice (the “Cure Period”). Resignation by the 

  
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Employee following the Company’s cure or before the expiration of the Cure Period shall constitute a voluntary resignation and not a termination or resignation for Good Reason. If the
alleged Good Reason event has not been cured at the end of the Cure Period, the Employee’s termination of employment for Good Reason will be effective on the first business day following the last day of the Cure Period. 

Following the Employee’s termination of employment by the Company without Cause (and not by reason of Employee’s death or
Disability), or by the Employee for Good Reason, except as set forth in this Section 3(c), the Employee shall have no further rights to any compensation or any other benefits under this Agreement. 

(d) Termination by the Company for Cause; Resignation Without Good Reason. If the Employee’s employment shall be terminated by the
Company for Cause or upon the Employee’s resignation without Good Reason, the Employee shall only be entitled to receive the Accrued Rights. Following the Employee’s termination of employment by the Company for Cause or upon the
Employee’s resignation without Good Reason, except as set forth in this Section 3(d), the Employee shall have no further rights to any compensation or any other benefits under this Agreement. 

(e) Disability or Death. The Employment Period and the Employee’s employment hereunder shall terminate immediately upon the
Employee’s death and may be terminated by the Company if the Employee becomes or is reasonably expected to be (in the good faith judgment of the Board) physically or mentally incapacitated and therefore unable for a period of one hundred twenty
(120) consecutive days to perform the essential functions of Employee’s position, with or without a reasonable accommodation (such incapacity is hereinafter referred to as “Disability”), in each case, in a manner
consistent with applicable state and federal law. Upon termination of the Employee’s employment hereunder by reason of his Disability or death, the Employee or the Employee’s estate (as the case may be) shall only be entitled to receive
(i) the Accrued Rights and (ii) such additional payments, if any, as determined by the Board in its sole and absolute discretion. Following the termination of the Employee’s employment by reason of the Employee’s Disability or
death, except as set forth in this Section 3(e), the Employee shall have no further rights to any compensation or any other benefits under this Agreement. 

(f) Return of Property. Upon cessation of the Employee’s employment with the Company for any reason, whether voluntary or
involuntary, the Employee shall immediately deliver to the Company (i) all physical, computerized, electronic or other types of records, documents, proposals, notes, lists, files and any and all other materials, including computerized and
electronic information, that refers, relates or otherwise pertains to the Company or any affiliate of the Company (or business dealings thereof) that are in the Employee’s possession, subject to the Employee’s control or held by the
Employee for others; and (ii) all property or equipment that the Employee has been issued by the Company or any affiliate of the Company during the course of his employment or property or equipment thereof that the Employee otherwise possesses,
including any computers, cellular phones, pagers and other devices. The Employee acknowledges that he is not authorized to retain any physical, computerized, electronic or other types of copies of any such physical, computerized, electronic or other
types of records, documents, proposals, notes, lists, files or materials, and is not authorized to retain 

  
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any other property or equipment of the Company or any affiliate of the Company. The Employee further agrees that the Employee will promptly forward to the Company (and thereafter destroy any
physical or electronic copies thereof) any confidential business information relating to the Company or any affiliate of the Company that has been or is inadvertently directed to the Employee following the Employee’s last day of employment. The
provisions of this Section 3(f) are in addition to any other written obligations on the subjects covered herein that the Employee may have with the Company and its affiliates, and are not meant to and do not excuse such obligations. Upon the
termination of his employment with the Company and its subsidiaries, the Employee shall, upon the Company’s request, promptly execute and deliver to the Company a certificate (in form and substance satisfactory to the Company) to the effect
that the Employee has complied with the provisions of this Section 3(f). 
 (g) Resignation of Offices. Promptly following any
termination of the Employee’s employment with the Company (other than by reason of the Employee’s death), the Employee shall be deemed to have resigned from all positions that the Employee may then hold as an employee or officer of the
Company or any affiliate of the Company. The Employee shall promptly deliver to the Company any additional documents reasonably required by the Company to confirm such resignations. 

(h) Further Assurances; Cooperation. Following the termination of the Employee’s employment with the Company, the Employee shall
execute any and all documents to secure the Company’s right to any Work Product (as defined in Section 4(b)), and the Employee agrees to make himself available as reasonably practical with respect to, and to use reasonable efforts to
cooperate in conjunction with, any litigation or investigation arising from events that occurred during the Employee’s employment with the Company and its affiliates (whether such litigation or investigation is then pending or subsequently
initiated) involving the Company or any affiliate of the Company, including providing testimony and preparing to provide testimony if so requested by the Company. The Company shall pay to the Employee an hourly retainer of $300 for any such
assistance and testimony. 
 4. Restrictive Covenants. 

(a) Confidential Information. During the course of the Employee’s employment with the Company, the Employee will be given access
to and receive Confidential Information (as defined below) regarding the business of the Company and its affiliates. The Employee agrees that the Confidential Information constitutes a protectable business interests of the Company and its affiliates
and covenants and agrees that at all times during the Employee’s employment with the Company, and at all times following the Employee’s termination, the Employee will not, directly or indirectly, disclose any Confidential Information. As
used in this Agreement, the term “Confidential Information” means any and all confidential, proprietary or trade secret information of the Company or an affiliate not within the public domain, whether disclosed, directly or
indirectly, verbally, in writing (including electronically) or by any other means in tangible or intangible form, including that which is conceived or developed by the Employee, applicable to or in any way related to: (i) the present or future
business activities, products and services, and customers of the Company or its affiliates; (ii) the research and development of the Company or its affiliates; or (iii) the business of any client or vendor of the Company or its affiliates. Such
Confidential Information includes the following property or 

  
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information of the Company or its affiliates, by way of example and without limitation, trade secrets, processes, formulas, data, program documentation, customer lists, designs, drawings,
algorithms, source code, object code, know-how, improvements, inventions, licenses, techniques, all plans or strategies for marketing, development and pricing, business plans, financial statements, profit margins and all information concerning
existing or potential clients, suppliers or vendors. Confidential Information of the Company also means all similar information disclosed to any member of the Company by third parties that is subject to confidentiality obligations. The Company shall
not be required to advise the Employee specifically of the confidential nature of any such information, nor shall the Company be required to affix a designation of confidentiality to any tangible item, in order to establish and maintain its
confidential nature. Notwithstanding the preceding to the contrary, Confidential Information shall not include general industry information or information that is publicly available or readily discernable from publicly available products or
literature; information that the Employee lawfully acquires from a source other than the Company or its affiliates or any client or vendor of the Company or any of its affiliates (provided that such source is not bound by a confidentiality agreement
with the Company or any of its affiliates); information that is required to be disclosed pursuant to any law, regulation, rule of any governmental body or authority, or stock exchange, or court order; or information that reflects employee’s own
skills, knowledge, know-how and experience gained prior to employment or service and outside of any connection to or relationship with the Company or any of its affiliates, or the predecessors of any such entities. 

(b) Intellectual Property Ownership. The Employee hereby assigns to the Company all rights, including, without limitation, copyrights,
patents, trade secret rights, and other intellectual property rights associated with any ideas, concepts, techniques, inventions, processes, works of authorship, Confidential Information or trade secrets (i) developed or created by the
Employee, solely or jointly with others, during the course of performing work for or on behalf of the Company or any affiliate of the Company, or the predecessors of any such entities, whether as an employee or independent contractor, (ii) that
the Employee conceives, develops, discovers or makes in whole or in part during the Employee’s employment by the Company that relate to the business of the Company or any affiliate of the Company or the actual or demonstrably anticipated
research or development of the Company or any affiliate of the Company, (iii) that the Employee conceives, develops, discovers or makes in whole or in part during or after the Employee’s employment by the Company that are made through the
use of any of the equipment, facilities, supplies, trade secrets or time of the Company or any affiliate of the Company, or that result from any work the Employee performs for the Company or any affiliate of the Company, or (iv) developed or
created by the Employee, solely or jointly with others, at any time before the Employment Period, that relate to or involve the Company’s businesses (including, but not limited to, the business of the Company Group) (collectively, the
“Work Product”). Without limiting the foregoing, to the extent possible, all software, compilations and other original works of authorship included in the Work Product will be considered a “work made for hire” as that term
is defined in Title 17 of the United States Code. If, notwithstanding the foregoing, the Employee for any reason retains any right, title or interest in or relating to any Work Product, the Employee agrees promptly to assign, in writing and without
any requirement of further consideration, all such right, title, and interest to the Company. Upon request of the Company at any time during or after the Employment Period, the Employee will take such further actions, including execution and
delivery of instruments of 

  
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conveyance, as may be appropriate to evidence, perfect, record or otherwise give full and proper effect to any assignments of rights under or pursuant to this Agreement. The Employee will
promptly disclose to the Company any such Work Product in writing. 
 (c) Agreement Not to Solicit Employees. The Employee agrees
that during the period commencing on the Effective Date and ending on the date that is twelve (12) months after the Date of Termination (the “Restricted Period”) the Employee shall not, directly or indirectly, solicit or
recruit any person who is as of the Date of Termination (or was within twelve (12) months prior to the Date of Termination) an employee of the Company or an affiliate (provided, however, that the foregoing provision shall not prohibit
solicitations made by the Employee to the general public). 
 (d) Non-Disparagement. The Employee shall not, while employed by the
Company or at any time thereafter, disparage the Company (or any affiliate) in any way that materially and adversely affects the goodwill, reputation or business relationships of the Company or the affiliate with the public generally, or with any of
its customers, vendors or employees. The Company shall not (and shall use reasonable efforts to procure that its directors and officers shall not) disparage the Employee in any way that materially and adversely affects him or his reputation or
business relationships. Notwithstanding the foregoing, this Section shall not prohibit either Party from rebutting claims or statements made by any other person. 

(e) Enforcement. The Employee acknowledges that he has carefully read and considered all the terms and conditions of this Agreement,
including the restraints imposed upon him pursuant to this Section 4. The Employee agrees that each of the restraints contained herein are necessary for the protection of the goodwill, Confidential Information and other legitimate interests of
the Company; that each and every one of these restraints is reasonable in respect to subject matter, length of time and geographic area. The Employee further acknowledges that, were he to breach any of the covenants contained in this Section 4,
the damage to the Company would be irreparable. The Employee therefore agrees that the Company, in addition to any other remedies available to it, shall be entitled to injunctive relief against any breach or threatened breach by the Employee of any
of said covenants. 
 5. Severability. If any portion or provision of this Agreement shall to any extent be declared illegal or
unenforceable by a court of competent jurisdiction, then the remainder of this Agreement, or the application of such portion or provision in circumstances other than those as to which it is so declared illegal or unenforceable, shall not be affected
thereby, and each portion and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. 
 6.
Mutual Drafting. Each Party has had the opportunity to be represented by counsel of its choice in negotiating this Agreement. This Agreement shall therefore be deemed to have been negotiated and prepared at the joint request, direction and
construction of the Parties, at arm’s length, with the advice and participation of counsel, and shall be interpreted in accordance with its terms without favor to either Party, and no presumption or burden of proof shall arise favoring or
disfavoring either Party by virtue of the authorship of any of the provisions of this Agreement. 

  
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 7. Section 409A of the Internal Revenue Code. 

(a) Notwithstanding anything contained in this Agreement to the contrary, to the maximum extent permitted by applicable law, amounts payable
to the Employee pursuant to Section 3 are intended to be made in reliance upon Treas. Reg. § 1.409A-1(b)(4) (short-term deferral) or Treas. Reg. § 1.409A-1(b)(9) (involuntary separation pay) or any other applicable exemption under
Section 409A of the Code. No amounts payable under this Agreement upon the Employee’s termination of employment shall be payable unless the Employee’s termination of employment constitutes a “separation from service” within
the meaning of Treas. Reg. § 1.409A-1(h) (a “Separation from Service”). The Company and the Employee intend that their exercise of authority or discretion under this Agreement shall be consistent with the foregoing exemptions
under, or comply with, Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”). If any provision of this Agreement does not satisfy the requirements of Section 409A, such provision shall nevertheless
be applied in a manner consistent with those requirements. 
 (b) If the Employee is a “specified employee” (as defined in
Section 409A of the Code), as determined by the Company in accordance with Section 409A of the Code, on the date of the Employee’s Separation from Service, to the extent that the payments or benefits under this Agreement are subject
to Section 409A of the Code and the delayed payment or distribution of all or any portion of such amounts to which the Employee is entitled under this Agreement is required in order to avoid a prohibited distribution under
Section 409A(a)(2)(B)(i) of the Code, then such portion deferred pursuant to this Section 7(b) shall be paid or distributed to the Employee in a lump sum on the earlier of (i) the date that is six (6)-months following the
Employee’s Separation from Service, (ii) the date of the Employee’s death or (iii) the earliest date as is permitted under Section 409A of the Code. Any remaining payments due under the Agreement shall be paid as otherwise
provided herein. 
 (c) If any provision of this Agreement would subject the Employee to additional tax or interest under Section 409A,
the Company and the Employee shall amend this Agreement, or take such other actions as the Employee and the Company deem reasonably necessary or appropriate, to comply with the requirements of Section 409A of the Code and the Treasury
Regulations thereunder (and any applicable transition relief) while preserving the economic agreement of the parties. In no event whatsoever shall the Company be liable for any tax, interest or penalties that may be imposed on the Employee under
Section 409A. Notwithstanding the foregoing, no particular tax result for the Employee with respect to any income recognized by the Employee in connection with this Agreement is guaranteed. Neither the Company nor any of its affiliates shall
have any obligation to indemnify or otherwise hold the Employee harmless from any or all such taxes, interest, or penalties, or liability for any damages related thereto. The Employee acknowledges that he has been advised to obtain independent
legal, tax or other counsel in connection with Section 409A. Each payment under this Agreement is intended to be a “separate payment” and not a series of payments for purposes of Section 409A. Any payments or reimbursements of
any expenses provided for under this Agreement shall be made in accordance with Treas. Reg. § 1.409A-3(i)(1)(iv). All references in this Agreement to Section 409A include rules, regulations, and guidance of general application issued by
the Department of the Treasury under Section 409A. 

  
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 8. Governing Law. This Agreement shall be construed and enforced under and be governed in
all respects by the laws of the State of California, without regard to the conflict of laws principles thereof. 
 9. Binding
Arbitration. 
 (a) Generally. The Employee and the Company agree that any controversy or claim arising out of or relating to
this Agreement, the employment relationship between the Employee and the Company, or the termination thereof, including the arbitrability of any controversy or claim, which cannot be settled by mutual agreement will be finally settled by binding
arbitration in accordance with the Expedited Arbitration Procedures of Judicial Arbitration & Mediation Service, Inc. (“JAMS”), as set forth in Section 16.1 et seq. of the JAMS rules, or any successor provision thereto, as
follows: Any Party aggrieved will deliver a notice to the other Party setting forth the specific points in dispute. Any points remaining in dispute twenty (20) days after the giving of such notice may, upon ten (10) days’ notice to
the other party, be submitted to JAMS arbitration conducted before a single neutral arbitrator in Dallas, Texas. The arbitrator shall be appointed by agreement of the parties hereto or, if no agreement can be reached, by JAMS. The arbitrator may
enter a default decision against any Party who fails to participate in the arbitration proceedings. Notwithstanding the foregoing, a Party who seeks equitable relief, including injunctive relief, shall not be obligated to utilize the arbitration
proceedings required hereunder and instead may seek such relief in any state or federal court sitting in Dallas, Texas. 
 (b) Binding
Effect. The decision of the arbitrator on the points in dispute will be final, unappealable and binding, and judgment on the award may be entered in any court having jurisdiction thereof. The arbitrator shall only be authorized to interpret the
provisions of this Agreement, and shall not amend, change or add to any such provisions. The Parties agree that this provision has been adopted by the Parties to rapidly and inexpensively resolve any disputes between them and that this provision
will be grounds for dismissal of any court action commenced by either Party with respect to this Agreement, other than post-arbitration actions seeking to enforce an arbitration award or proceedings seeking equitable relief as permitted under
Section 9(a). In the event that any court determines that this arbitration procedure is not binding, or otherwise allows any litigation regarding a dispute, claim, or controversy covered by this Agreement to proceed, the Parties hereto hereby
waive any and all right to a trial by jury in or with respect to such litigation. 
 (c) Fees and Expenses. Except as otherwise
provided in this Agreement or by applicable law, the arbitrator will be authorized to apportion its fees and expenses as the arbitrator deems appropriate and the arbitrator will be authorized to award the prevailing party its fees and expenses
(including attorneys’ fees). In the absence of any such apportionment or award, each Party will bear its own expenses and the fees of its own attorney. 

(d) Confidentiality. The Parties and the arbitrator will keep confidential, and will not disclose to any person, except the
parties’ advisors and legal representatives, or as may be required by law, the existence of any controversy under this Section 9, the referral of any such controversy to arbitration or the status or resolution thereof. 

  
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 (e) Waiver. The Employee acknowledges that arbitration pursuant to this Agreement includes
all controversies or claims of any kind (e.g., whether in contract or in tort, statutory or common law, legal or equitable) now existing or hereafter arising under any federal, state, local or foreign law, including, but not limited to, the Age
Discrimination in Employment Act, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1866, the Employee Retirement Income Security Act, the Family and Medical Leave Act, the Americans With Disabilities Act and all similar federal,
state and local laws, and the Employee hereby waives all rights thereunder to have a judicial tribunal and/or a jury determine such claims. 

(f) Acknowledgment. The Employee acknowledges that before agreeing to participate in this Agreement, the Employee has had the
opportunity to consult with any attorney or other advisor of the Employee’s choice, and that this provision constitutes advice from the Company to do so if the Employee chooses. The Employee further acknowledges that the Employee has agreed to
enter into this Agreement of the Employee’s own free will, and that no promises or representations have been made to the Employee by any person to induce the Employee to enter into this Agreement other than the express terms set forth herein.
The Employee further acknowledges that the Employee has read this Agreement and understands all of its terms, including the waiver of rights set forth in this Section 9. 

10. Assignment. Neither the Company nor the Employee may make any assignment of this Agreement or any interest herein, by operation of
law or otherwise, without the prior written consent of the other; provided, however, that the Company may assign its rights and obligations to any affiliate or a successor to the business of the Company or all or substantially all of the
assets of the Company without the consent of the Employee. This Agreement shall inure to the benefit of and be binding upon the Company and the Employee, their respective successors, executors, administrators, heirs and permitted assigns. 

11. Waiver. No waiver of any provision hereof shall be effective unless made in writing and signed by the waiving Party. The failure of
either Party to require the performance of any term or obligation of this Agreement, or the waiver by either Party of any breach of this Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any
subsequent breach. 
 12. Notices. Any and all notices, requests, demands and other communications provided for by this Agreement
shall be in writing and shall be effective when delivered in person, consigned to a reputable national courier service or deposited in the United States mail, postage prepaid, registered or certified, and addressed to the Employee at his last known
address on the books of the Company or, in the case of the Company, at its principal place of business, attention of the Legal Department or to such other address as any Party may specify by notice to the other actually received. 

13. Entire Agreement. This Agreement constitutes the entire agreement between the Parties hereto pertaining to the subject matter
hereof and supersedes all prior and contemporaneous agreements, understandings, negotiations and discussions, whether oral or written, of the Parties with respect to such subject matter, including without limitation any previous employment
agreements entered into between Employee and the Company or any of its affiliates. 

  
 11 

 14. Amendment. This Agreement may be amended or modified only by a written instrument
signed by the Employee and by an expressly authorized representative of the Company. 
 15. Headings. The headings and captions in
this Agreement are for convenience only, and in no way define or describe the scope or content of any provision of this Agreement. 
 16.
Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be an original and all of which together shall constitute one and the same instrument. 

[Remainder of page is intentionally blank.] 

  
 12 

 IN WITNESS WHEREOF, the Parties hereto, intending to be legally bound hereby, have hereunto set
their hands under seal, effective as of the date first set forth above. 
  

			
	EXECUTIVE
	
	 /s/ Pete Welly

	Pete Welly
	
	FOUNDATION BUILDING MATERIALS, LLC
		
	By:	 	 /s/ Ruben Mendoza

		 	Name: Ruben Mendoza
		 	Title: President and Chief Executive Officer

 SIGNATURE PAGE TO EMPLOYMENT AGREEMENT 

 EXHIBIT A 

GENERAL RELEASE OF CLAIMS 

[The language in this Release may change based on legal developments and evolving best practices; this form is
provided as an example of what will be included in the final Release document.] 
 This General Release of
Claims (“Release”) is entered into as of this      day of             ,         , between
                     (“Employee”), and Foundation Building Materials, LLC (the “Company”) (collectively
referred to herein as the “Parties”). 
 WHEREAS, the Employee and the Company are parties to that certain Employment
Agreement dated as of             , 2015 (the “Agreement”); 

WHEREAS, the Parties agree that Employee is entitled to certain severance benefits under the Agreement, subject to Employee’s execution
of this Release; and 
 WHEREAS, the Company and the Employee now wish to fully and finally to resolve all matters between them. 

NOW, THEREFORE, in consideration of, and subject to, the severance benefits payable to the Employee pursuant to the Agreement, the adequacy of
which is hereby acknowledged by the Employee, and which the Employee acknowledges that he or she would not otherwise be entitled to receive, the Employee and the Company hereby agree as follows: 

1. General Release of Claims by the Employee. 

(a) The Employee, on behalf of himself or herself and his or her executors, heirs, administrators, representatives and assigns, hereby agrees
to release and forever discharge the Company and all predecessors, successors and their respective parent corporations, affiliates, related, and/or subsidiary entities, and all of their past and present investors, directors, shareholders, officers,
general or limited partners, employees, attorneys, agents and representatives, and the employee benefit plans in which the Employee is or has been a participant by virtue of his or her employment with or service to the Company (collectively, the
“Company Releasees”), from any and all claims, debts, demands, accounts, judgments, rights, causes of action, equitable relief, damages, costs, charges, complaints, obligations, promises, agreements, controversies, suits, expenses,
compensation, responsibility and liability of every kind and character whatsoever (including attorneys’ fees and costs), whether in law or equity, known or unknown, asserted or unasserted, suspected or unsuspected (collectively,
“Claims”), which the Employee has or may have had against such entities based on any events or circumstances arising or occurring on or prior to the date hereof or on or prior to the date hereof, arising directly or indirectly out
of, relating to, or in any other way involving in any manner whatsoever the Employee’s employment by or service to the Company or the termination thereof, including any and all claims arising under federal, state, or local laws relating to
employment, including without limitation claims of wrongful discharge, breach of express or implied contract, fraud, misrepresentation, defamation, or liability in tort, and claims of any kind that may be brought in any court or administrative
agency including, without limitation, claims under Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C. Section 2000, et seq.; the 

  
 1 

 
Americans with Disabilities Act, as amended, 42 U.S.C. § 12101 et seq.; the Rehabilitation Act of 1973, as amended, 29 U.S.C. § 701 et
seq.; the Civil Rights Act of 1866, and the Civil Rights Act of 1991; 42 U.S.C. Section 1981, et seq.; the Age Discrimination in Employment Act, as amended, 29 U.S.C. Section 621, et seq. (the
“ADEA”); the Equal Pay Act, as amended, 29 U.S.C. Section 206(d); regulations of the Office of Federal Contract Compliance, 41 C.F.R. Section 60, et seq.; the Family and Medical Leave Act, as amended,
29 U.S.C. § 2601 et seq.; the Fair Labor Standards Act of 1938, as amended, 29 U.S.C. § 201 et seq.; the Employee Retirement Income Security Act, as amended, 29 U.S.C.
§ 1001 et seq.; and the California Fair Employment and Housing Act, California Government Code Section 12940, et seq. 

Notwithstanding the generality of the foregoing, the Employee does not release the following claims: 

(i) Claims for unemployment compensation or any state disability insurance benefits pursuant to the terms of applicable state
law; 
 (ii) Claims for workers’ compensation insurance benefits under the terms of any worker’s compensation
insurance policy or fund of the Company; 
 (iii) Claims pursuant to the terms and conditions of the federal law known as
COBRA; 
 (iv) Claims for indemnity under the bylaws of the Company, as provided for by applicable law or under any
applicable insurance policy with respect to the Employee’s liability as an employee, director or officer of the Company; 

(v) Claims based on any right the Employee may have to enforce the Company’s executory obligations under the Agreement;
and 
 (vi) Claims the Employee may have to vested or earned compensation and benefits. 

(b) THE EXECUTIVE ACKNOWLEDGES THAT HE OR SHE HAS BEEN ADVISED OF AND IS FAMILIAR WITH THE PROVISIONS OF CALIFORNIA CIVIL CODE SECTION 1542,
WHICH PROVIDES AS FOLLOWS: 
 “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN
HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH, IF KNOWN BY HIM OR HER, MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.” 

BEING AWARE OF SAID CODE SECTION, THE EXECUTIVE HEREBY EXPRESSLY WAIVES ANY RIGHTS HE OR SHE MAY HAVE THEREUNDER, AS WELL AS UNDER ANY OTHER STATUTES OR
COMMON LAW PRINCIPLES OF SIMILAR EFFECT. 
 [Note: Clauses (c), (d) and (e) apply only if the Employee is age 40 or older at
time of termination] 
 (c) The Employee acknowledges that this Release was presented to him or her on the date indicated above and
that the Employee is entitled to have twenty-one (21) days’ time in which to consider it. The Employee further acknowledges that the Company has advised him or her that he or she is waiving his or her rights under the ADEA, and that the
Employee should 

  
 2 

 
consult with an attorney of his or her choice before signing this Release, and the Employee has had sufficient time to consider the terms of this Release. The Employee represents and acknowledges
that if Employee executes this Release before twenty-one (21) days have elapsed, the Employee does so knowingly, voluntarily, and upon the advice and with the approval of the Employee’s legal counsel (if any), and that the Employee
voluntarily waives any remaining consideration period. 
 (d) The Employee understands that after executing this Release, the Employee has
the right to revoke it within seven (7) days after his or her execution of it. The Employee understands that this Release will not become effective and enforceable unless the seven (7) day revocation period passes and the Employee does not
revoke the Release in writing. The Employee understands that this Release may not be revoked after the seven (7) day revocation period has passed. The Employee also understands that any revocation of this Release must be made in writing and
delivered to the Company at its principal place of business within the seven (7) day period. 
 (e) The Employee understands that this
Release shall become effective, irrevocable, and binding upon the Employee on the eighth (8th) day after his or her execution of it, so long as the Employee has not revoked it within the time
period and in the manner specified in clause (d) above. 
 (f) The Employee further understands that the Employee will not be given any
severance benefits under the Agreement unless this Release is effective on or before the date that is thirty (30) days following the date of the Employee’s termination of employment. 

2. No Assignment. The Employee represents and warrants to the Company Releasees that there has been no assignment or other transfer of
any interest in any Claim that the Employee may have against the Company Releasees. The Employee agrees to indemnify and hold harmless the Company Releasees from any liability, claims, demands, damages, costs, expenses and attorneys’ fees
incurred as a result of any such assignment or transfer from the Employee. 
 3. Severability. If any portion or provision of this
Release shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this Release, or the application of such portion or provision in circumstances other than those as to which it is so
declared illegal or unenforceable, shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. 

4. Headings. The headings and captions in this Release are for convenience only, and in no way define or describe the scope or content
of any provision of this Agreement. 
 5. Mutual Drafting. Each Party has had the opportunity to be represented by counsel of its
choice in negotiating this Agreement. This Agreement shall therefore be deemed to have been negotiated and prepared at the joint request, direction and construction of the Parties, at arm’s length, with the advice and participation of counsel,
and shall be interpreted in accordance with its terms without favor to either Party, and no presumption or burden of proof shall arise favoring or disfavoring either Party by virtue of the authorship of any of the provisions of this Agreement. 

  
 3 

 6. Governing Law. This Release shall be construed and enforced under and be governed in
all respects by the laws of the State of California, without regard to the conflict of laws principles thereof. 
 7. Entire
Agreement. This Release and the Agreement constitute the entire agreement of the Parties in respect of the subject matter contained herein and therein and supersede all prior or simultaneous representations, discussions, negotiations and
agreements, whether written or oral. This Release may be amended or modified only with the written consent of the Employee and an authorized representative of the Company. No oral waiver, amendment or modification will be effective under any
circumstances whatsoever. 
 8. Counterparts. This Release may be executed in two or more counterparts, each of which shall be an
original and all of which together shall constitute one and the same instrument. 
 (Signature Page Follows) 

  
 4 

 IN WITNESS WHEREOF, and intending to be legally bound, the Parties have executed the foregoing
Release as of the date first written above. 
  

			
	EXECUTIVE
	
	  

	
	FOUNDATION BUILDING MATERIALS, LLC
		
	By:	 	  

		 	Name:
		 	Title:

  
 SIGNATURE PAGE TO
RELEASEEX-10.15

 Exhibit 10.15 

LSF9 CYPRESS PARENT LLC 

LONG TERM INCENTIVE PLAN 

ARTICLE 1 
 ESTABLISHMENT
AND PURPOSE 
 Section 1.1 Establishment and Purpose. LSF9 Cypress Parent LLC (the “Company”), hereby
establishes the LSF9 Cypress Parent LLC Long Term Incentive Plan (the “Plan”) as set forth in this document. The purpose of the Plan is to attract and provide motivation to certain key employees and other service providers of the
Company and its Subsidiaries to put forth maximum efforts toward the continued growth, profitability and success of the Company by providing incentives to such individuals through cash bonus payments. 

Section 1.2 Effective Date. The Plan shall be effective as of the Closing (as defined in such agreement) of the transactions
contemplated by that certain Transaction Agreement dated as of August 19, 2015, by and among CI (FBM) Holdings LLC, CI FBM AIV Mini-Master L.P., FBM AIV Blocker Inc., FBM AIV Blocker II Inc., FBM Intermediate Inc., FBM Intermediate
Holdings LLC, CI Capital Investors II, L.P., CI Capital Investors II (AIV-A), L.P., CI Capital Investors II (AIV), L.P. and LSF9 Cypress Holdings LLC (the “Effective Date”). 

ARTICLE 2 
 DEFINITIONS

 Section 2.1 Administrator. “Administrator” means the individual or individuals from time to time
designated by the Board to administer the Plan. At any time no Administrator has been so designated, the term “Administrator” shall mean the Board until such time that no less than one Administrator has been designated by the Board. In the
event that more than one Administrator is designated by the Board to administer the Plan, all such Administrators shall be severally and individually authorized to take all actions, and make all determinations, called for hereunder and under any
Award Agreement. The initial Administrators shall be Chris Meyer and Kyle Volluz. 
 Section 2.2 Affiliate.
“Affiliate” means, with respect to any Person, any other Person directly or indirectly controlling, controlled by, or under direct or indirect common control with, such Person. A Person will be deemed to control an entity if
such Person possesses, directly or indirectly, the power to direct or cause the direction of the management and policies of such entity, whether through the ownership of voting securities, by contract or otherwise. 

Section 2.3 Award Agreement. “Award Agreement” means a written agreement evidencing a Participant’s
participation in this Plan. An Award Agreement shall be in the form of an agreement to be executed by the Participant and the Administrator on behalf of the Company. In the event of any inconsistency between the terms of the Plan and any Award
Agreement, the terms of the Award Agreement shall prevail. 
 Section 2.4 Board. “Board” means the manager(s)
of the Company, and if none, the sole member of the Company, or the other governing authority of the Company, as applicable. 

 Section 2.5 Cause. “Cause” means “Cause” as defined in any
employment or other agreement between a Participant and the Company or any Subsidiary thereof, and if no such definition exists, “Cause” shall be deemed to exist if the Administrator shall determine that any of the following items shall
apply: (a) a breach of any agreement between the Participant and the Company or any Subsidiary or Affiliate of the Company, including, without limitation, a breach by the Participant of the Participant’s obligations under any Award
Agreement; (b) non-performance or consistent poor performance by the Participant of his duties and responsibilities to the Company or any Affiliate, intentional or negligent misconduct by the Participant in the performance of his duties to the
company or a violation by the Participant of any written policies of the Company or specific written directions of the Board; (c) the Participant engaging in conduct that, in the reasonable determination of the Company, demonstrates unfitness
to serve in the Participant’s position with the Company or any Affiliate; (d) a breach of any fiduciary duty which the Participant owes to the Company or any Subsidiary or Affiliate of the Company; (e) the conviction or plea of guilty
or no contest by the Participant with respect to (i) a felony, or (ii) embezzlement, dishonesty, a crime involving moral turpitude, or intentional and actual fraud; (f) the use of illicit drugs or other illicit substances or the abuse
of licit drugs or other substances; or (g) an unexplained absence from work for more than ten (10) days in any twelve (12) month period (vacation, reasonable personal leave, reasonable sick leave, and Disability excepted). A
Participant’s employment will be deemed to have been terminated for Cause if it is determined subsequent to his termination of employment that grounds for termination of his employment for Cause existed at the time of his termination of
employment. 
 Section 2.6 Code. “Code” means the Internal Revenue Code of 1986, as amended from time to time.

 Section 2.7 Cumulative IRR. “Cumulative IRR” means the aggregate cumulative after tax internal rate of
return, compounded annually, that is realized by Lone Star Fund IX (U.S.), L.P. and/or its Affiliates from its direct or indirect investment in the Company from the Effective Date through the date of the applicable Monetization Event, as reported by
Lone Star Fund IX (U.S.), L.P. to its investors. 
 Section 2.8 Disability. A Participant’s “Disability”
shall occur if the Participant becomes or is reasonably expected to be (in the good faith judgment of the Board) physically or mentally incapacitated and therefore unable for a period of one hundred twenty (120) consecutive days to perform the
essential functions of the Participant’s position, with or without a reasonable accommodation, in each case, in a manner consistent with applicable state and federal law. 

Section 2.9 Exit Transaction. “Exit Transaction” means the earlier to occur of: (1) the date of a
Monetization Event in which Lone Star Fund IX (U.S.), L.P. and its Affiliates have sold, transferred or otherwise disposed of all or substantially all of their direct or indirect ownership interests in the Company or a respective successor entity to
an unrelated third party for cash, including through an initial or follow-on Public Offering of the equity interests of the Company or a respective successor entity; or (2) the date of a Monetization Event in connection with a sale of all of
the assets of the Company or a respective successor entity (or all of the Subsidiaries of such entity). 

  
 2 

 Section 2.10 Good Reason. “Good Reason” means “Good
Reason” as defined in any employment or other agreement between a Participant and the Company or any Subsidiary thereof, and if no such definition exists, “Good reason” shall be deemed to exist if, without the Participant’s
consent: (1) there is a material diminution in the duties, responsibilities, or authority of the Participant; (2) there is a reduction in the Participant’s then base salary and target bonus, other than a reduction which is part of a
general cost reduction affecting other similarly situated employees and which does not exceed ten percent (10%) of the Participant’s then target base compensation in the aggregate when combined with any such prior reductions; (3) the
Participant is required to relocate to a location outside of Orange County, California; or (4) a material breach by the Company of any agreement between the Participant and the Company or any Subsidiary. In each such case of Good Reason, the
Participant shall provide the Company with written notice of the grounds for a Good Reason termination within ninety (90) days of the initial occurrence thereof, and the Company shall have a period of thirty (30) days to cure after receipt
of the written notice (the “Cure Period”). Resignation by the Participant following the Company’s cure or before the expiration of the Cure Period shall constitute a voluntary resignation and not a termination or resignation
for Good Reason. If the alleged Good Reason event has not been cured at the end of the Cure Period, the Participant’s termination of employment for Good Reason will be effective on the first business day following the last day of the Cure
Period. 
 Section 2.10 Incentive Pool. “Incentive Pool” means the recordkeeping account established and
maintained on the books of the Company pursuant to this Plan, as more fully described in Section 3.3. 
 Section 2.11
Monetization Event. “Monetization Event” means the consummation of one or more of the following transactions: 
 (a)
Lone Star Fund IX (U.S.), L.P. and/or its Affiliates sell, transfer or otherwise dispose of all or a portion of their direct and indirect ownership interests in the Company or a respective successor entity (whether through a direct sale, merger,
consolidation, reorganization, or other similar transaction) to an unrelated third party for cash; 
 (b) a firm commitment underwritten
public offering (a “Public Offering”) of the equity interests of the Company or a respective successor entity that is registered under the Securities Act of 1933, as amended, in which Lone Star Fund IX (U.S.), L.P. and/or its
Affiliates sell all or a portion of their direct and indirect ownership interests in the Company or a respective successor entity, as applicable, in such Public Offering; or 

(c) the direct or indirect payment by the Company of any cash distributions to Lone Star Fund IX (U.S.), L.P. and/or its Affiliates (including
in connection with a sale of the assets of the Company or a respective successor entity). 
 Section 2.12 Participant.
“Participant” means an individual who is selected by the Administrator to participate in this Plan and executes an Award Agreement evidencing such participation (in his or her individual capacity and not as Administrator). 

  
 3 

 Section 2.13 Person. “Person” means an individual, partnership,
joint venture, limited liability company, corporation, trust, unincorporated organization or a government or any department or agency thereof. 

Section 2.14 Proceeds. “Proceeds” means the aggregate cash proceeds that are actually received (net of
transaction costs and expenses) by the Company’s direct and indirect equity holders in connection with all Monetization Events occurring on or prior to the date thereof. 

Section 2.15 Subsidiary. “Subsidiary” means any entity (other than the Company) in an unbroken chain of entities
beginning with the Company, if each of the entities other than the last entity in the unbroken chain owns equity possessing 50% or more of the total combined voting power in one of the other entities in such chain. 

ARTICLE 3 

ADMINISTRATION AND 

INCENTIVE POOL ESTABLISHMENT 

Section 3.1 Plan Administration. The Plan shall be administered by the Administrator. The Administrator shall have total and
exclusive responsibility to control, operate, manage and administer the Plan in accordance with its terms. The Administrator shall have all the authority and discretion that may be necessary or helpful to enable it to discharge its responsibilities
with respect to the Plan. Without limiting the generality of the preceding sentence, the Administrator shall have full discretionary authority and the exclusive right to: (i) interpret this Plan; (ii) determine eligibility for
participation in the Plan; (iii) decide all questions concerning eligibility for, and the amount of, amounts payable under this Plan; (iv) construe any ambiguous provision of this Plan; (v) correct any defect, supply any omission or
reconcile any inconsistency in this Plan; (vi) issue administrative guidelines as an aid to administering the Plan and make changes in such guidelines as the Administrator from time to time deems proper; (vii) make regulations for carrying
out this Plan and make changes in such regulations as the Administrator from time to time deems proper; (viii) to the extent permitted under this Plan, grant waivers of Plan terms, conditions, restrictions and limitations; (ix) enter into
Award Agreements and grant awards in replacement of awards previously granted under the Plan or awards granted under any other employee benefit plan of the Company or its Affiliates; (x) engage legal or other counsel; and (xi) take any and
all other actions the Administrator deems necessary or advisable for the proper operation or administration of the Plan. The decisions of the Administrator and its actions with respect to the Plan shall be final, conclusive and binding on all
Persons having or claiming to have any right or interest in or under the Plan, including Participants and their respective estates, beneficiaries and legal representatives. 

Section 3.2 Liability and Indemnification. No Administrator shall be personally liable for any action, interpretation or
determination made in good faith with respect to the Plan or any Award Agreement, and the Administrator shall be fully indemnified, defended and otherwise protected by the Company with respect to any liability he or she may incur with respect to any
such action, interpretation or determination, to the fullest extent permitted by applicable law. 

  
 4 

 Section 3.3 Incentive Pool. For Plan recordkeeping purposes, the Company shall
establish and maintain on its books an account to be known as the Incentive Pool. Amounts shall be credited to the Incentive Pool at the time of any Monetization Event, in accordance with the following provisions: 

(a) No amounts shall be credited to the Incentive Pool until a 15% Cumulative IRR has been first achieved. 

(b) Following a Monetization Event that results in or occurs after at least a 15% Cumulative IRR has been first achieved, the relevant amount
set forth in the table below, minus any amounts previously credited to the Incentive Pool, shall be credited to the Incentive Pool based on the Cumulative IRR then achieved. 
  

			
	 Cumulative IRR
	  	 Amount to Credit to Incentive
Pool

	14.99% or less	  	$0
	15% up to 20.0%	  	9.5% of marginal Proceeds that result in Cumulative IRR in excess of 15%
	20.1% up to 25.0%	  	12.0% of marginal Proceeds that result in Cumulative IRR in excess of 20.1%
	25.1% up to 35.0%	  	14.0% of marginal Proceeds that result in Cumulative IRR in excess of 25.1%
	35.1% up to 50%	  	17.0% of marginal Proceeds that result in Cumulative IRR in excess of 35.1%
	50.1% up to 100.0%	  	19.0% of marginal Proceeds that result in Cumulative IRR in excess of 50.1%
	Over 100%	  	9.5% of marginal Proceeds that result in Cumulative IRR in excess of 100%

 (c) Attached at Exhibit A is an example of calculations of the Incentive Pool funding. The example is
for illustrative purposes only and all calculations of the Incentive Pool shall be governed by the foregoing provisions of this Section 3.3. 

Section 3.4 Pool Units. Interests in the Incentive Pool shall be granted in the form of bookkeeping units (each such interest, a
“Pool Unit”). The maximum aggregate number of Pool Units that may be granted under this Plan is 1,000,000. 
 ARTICLE 4

 GRANT AND FORFEITURE OF POOL UNITS 

Section 4.1 Grant. Solely for the purpose of determining the amount of any Incentive Bonus(es) (as defined below) to be paid to
Participants under this Plan, the Administrator shall enter into an Award Agreement with each Participant which shall grant to such Participant the number of Pool Units that is set forth in such Award Agreement. A form of Award Agreement is attached
here as Exhibit B; provided, however, that the Administrator shall be authorized to make such changes thereto as the Administrator shall deem necessary, advisable, or appropriate. 

  
 5 

 Section 4.2 Forfeiture of Participant’s Pool Units. Pool Units granted to
Participants shall be subject to forfeiture as set forth in the applicable Award Agreement. 
 ARTICLE 5 

INCENTIVE POOL PAYMENTS 

Section 5.1 Amount of Incentive Pool Payments. The value of any incentive bonus (“Incentive Bonus”) to be paid to
or with respect to any Participant pursuant to this Article 5 shall be determined following each Monetization Event by (a) dividing the number of the Participant’s outstanding Pool Units by the aggregate number of all outstanding Pool
Units, and (b) multiplying such quotient by the applicable amount to be credited to the Incentive Pool pursuant to Section 3.3 hereof. 

Section 5.2 Time and Form of Payment. Subject to the terms of any applicable Award Agreement, any Incentive Bonus payable under
this Article 5 shall be paid to Participant in cash within sixty (60) days following the Monetization Event. 
 Section 5.3
Beneficiaries. Any amount payable under this Plan after a Participant’s death shall be paid when otherwise due hereunder to the beneficiary or beneficiaries (“Beneficiary”) designated in accordance with the provisions of
this Plan. Such designation of a Beneficiary shall be made by the Participant in writing on a form prescribed by and filed with the Administrator, and shall remain in effect until changed by the Participant by the filing of a new valid beneficiary
designation form with the Administrator. If the Participant fails to so designate a Beneficiary, or in the event all of the individuals designated as the Participant’s Beneficiary are individuals who predecease Participant, any remaining amount
payable under this Plan shall be paid to Participant’s estate when otherwise due hereunder. 
 Section 5.4 Facility of
Payment. If the Company shall find that a Participant or a Participant’s Beneficiary is unable to care for his or her affairs because of illness or accident or is unable to execute a proper receipt for the payment of any amount payable
under this Plan, the Company may make payment to a Participant’s legal representative for the benefit of the Participant or the Participant’s Beneficiary. To the extent permitted by law, the payment to a person in accordance with this
paragraph shall fully discharge the Company’s obligation to pay any amount due under this Plan. The decision of the Administrator shall in each case be binding upon all persons in interest, and neither the Company nor the Administrator shall be
under any duty to see to the proper application of such funds. 
 ARTICLE 6 

MISCELLANEOUS 

Section 6.1 No Guarantee of Employment. Nothing in this Plan or in a related Award Agreement shall confer upon Participant any
right to continue in the employ of the Company or any Subsidiary or interfere in any way with the right of the Company or a Subsidiary to terminate Participant’s employment at any time and for any reason. 

Section 6.2 No Joint Venture. This Plan and a related Award Agreement shall not be considered to create a joint venture between
any Participant and the Company or to provide a Participant with any ownership interest in the Company or any Affiliate or any right or interest with respect to the earnings and profits or assets of the Company or any Affiliate. 

  
 6 

 Section 6.3 Pool Unit Not Salary. Neither the grant of Pool Units nor any payment to
be made with respect thereto shall be deemed salary or other compensation or remuneration to a Participant for the purpose of computing benefits to which a Participant may be entitled under any severance arrangement, retirement plan, employment
agreement or other similar compensation or remuneration scheme or arrangement that the Company or any Subsidiary may now or hereafter have or adopt. 

Section 6.4 No Funding. This Plan constitutes a mere promise by the Company to make payments in accordance with the terms hereof,
and each Participant shall have the status of a general unsecured creditor of the Company and any Affiliates. This Plan is unfunded and nothing in this Plan will be construed to set aside any assets of the Company or to give any Participant any
rights to any specific assets of the Company or any Affiliate. 
 Section 6.5 Amendment and Cancellation. The Administrator may
amend the terms of this Plan and/or any Award Agreement, but no such amendment shall reduce the aggregate amount reasonably expected to be paid to a Participant under this Plan or impair the economic rights of a Participant under this Plan and/or
any Award Agreement without the prior written consent of such Participant. The Administrator may, with a Participant’s written consent, cancel an Award Agreement granted under this Plan in exchange for a new award under the Plan. 

Section 6.6 Withholding Taxes. The Company or an Affiliate shall have the right to require a Participant to remit to the Company
or such Affiliate, or to withhold from other amounts payable to the Participant, as compensation or otherwise, any amount required to satisfy all federal, state and local employment tax and income tax withholding requirements. 

Section 6.7 Notices. All notices and other communications under this Plan shall be in writing (including electronically) and shall
be given in person or by either personal delivery, personal email with return receipt requested, facsimile with confirmation of receipt, overnight delivery, or first class mail, certified or registered with return receipt requested, with postal or
delivery charges prepaid, and shall be deemed to have been duly given when delivered personally, emailed, or three days after mailing first class, certified or registered with return receipt requested. 

Section 6.8 Entire Plan. This Plan supersedes any and all other agreements either oral or written, between the parties hereto with
respect to the subject matter hereof. 
 Section 6.9 Severability and Waiver. If any provision contained in this Plan shall be
held to be invalid, illegal or unenforceable under present or future laws effective during the term hereof, such provision shall be fully severable; this Plan shall be construed and enforced as if such illegal, invalid, or unenforceable provision
had never comprised a part hereof; and the remaining provisions hereof shall remain in full force and effect and shall not be affected by the illegal, invalid, or unenforceable provision or by its severance herefrom. Furthermore, in lieu of such
illegal, invalid, or unenforceable provision, there shall be added automatically by the parties as a part hereof a provision as similar in terms to such illegal, invalid or unenforceable provision 

  
 7 

 
as may be possible and be legal, valid and enforceable, and the parties hereby agree to such provision. Waiver by any party of any breach of this Plan or failure to exercise any right hereunder
shall not be deemed to be a waiver of any other breach or right. The failure of any party to take action by reason of such breach or to exercise any such right shall not deprive the party of the right to take action at any time while or after such
breach or condition giving rise to such rights continues. 
 Section 6.10 Binding Effect. This Plan shall be binding upon and
inure to the benefit of (i) each Participant and each Participant’s executors, administrators, personal representatives and heirs, and (ii) the Company, its successors and assigns. 

Section 6.11 Headings and Interpretation. Headings are for convenience only and are not deemed to be part of this Plan. Unless
otherwise indicated, any reference to a Section herein is a reference to a Section of this Plan. 
 Section 6.12 No Guarantee of Tax
Consequences. No person connected with this Plan in any capacity, including, but not limited to, the Company or any Affiliate and their respective members, partners, 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 award granted to or for the benefit of any Participant or that such tax
treatment will apply to or be available to a Participant. Each Participant should consult with such Participant’s own tax advisor to determine the tax consequences to such Participant that are associated with participating in the Plan. 

Section 6.13 Governing Law. This Plan shall be construed in accordance with and governed in all respects by the laws of the State
of Texas. 
 Section 6.14 Assignment. No right or interest of any Participant under this Plan and any related Award Agreement
may be assigned, transferred or alienated, in whole or in part, either directly or by operation of law (except by testamentary disposition or intestate succession), and no such right or interest shall be liable for or subject to any debt, obligation
or liability of any Participant. The Company shall be permitted to assign this Plan and any related Award Agreement to any Affiliate, provided such Affiliate agrees to be fully bound by the terms of this Plan and any related Award Agreement and to
meet all liabilities thereunder. Notwithstanding anything herein to the contrary, this Plan and the obligations hereunder (and under any Award Agreement) shall be the sole liability of the Company and no Affiliate shall have any liability to any
Participant as a result of this Plan or any Award Agreement, unless and until any assignment thereof is effectuated pursuant to the immediately preceding sentence of this Section 6.14, and, upon any such assignment, the Company shall be
automatically and totally released from any and all of its obligations hereunder and under the Award Agreements. 
 Section 6.15
Compliance With Code Section 409A. The compensation payable to or with respect to any Participant pursuant to this Plan is intended to be compensation that is not subject to the tax imposed by Code Section 409A, and this Plan shall be
administered and construed to the fullest extent possible to reflect and implement such intent. Each payment under this Plan is intended to be a “separate payment” and not a series of payments for purposes of Code Section 409A. 

  
 8 

 Section 6.16 Excess Parachute Payments.  

(a) Notwithstanding any other provision of the Plan to the contrary, if any payment or benefit by or from the Company or any of its Affiliates
to or for the benefit of a Participant, whether paid or payable or distributed or distributable pursuant to the terms of the Plan or otherwise (all such payments and benefits being collectively referred to herein as the “Payments”),
would be subject to the Excise Tax (as defined in Section 6.16(h)), then the following provisions of this Section 6.16 shall apply. 

(b) Prior to the consummation of any transaction that would or may result in any of the Payments payable or distributable to a Participant
being subject to the Excise Tax, if the Company is or will be a corporation described in Code Section 280G(b)(5)(A)(ii)(I) immediately before the consummation of such transaction, then such Participant shall have the right (but not the
obligation) to enter into a written agreement with the Company and/or its Affiliates, as applicable (each, a “Waiver”), providing that (i) such Participant waives such Participant’s right to receive some or all of such
Payments (the “Waived Payments”) so that all Payments (other than the Waived Payments) applicable to such Participant shall not be deemed to be an “excess parachute payment” (as defined in Code Section 280G(b)(1)) and
would not be subject to the Excise Tax, and (ii) such Participant accepts in substitution for such Waived Payments the right to receive such Waived Payments only if approved by the stockholders of the Company in a manner that complies with Code
Section 280G(b)(5)(B). Each such Waiver shall identify the specific Waived Payments and shall provide that if such stockholder approval is not obtained, such Waived Payments shall not be paid to such Participant and such Participant shall have
no right or entitlement with respect thereto. As promptly as practicable after such Waiver is entered into between such Participant and the Company and/or its Affiliates, as applicable, but in any event prior to the consummation of any such
transaction, the Company shall use its best efforts to obtain such stockholder approval (in a manner that complies with Code Section 280G(b)(5)(B)) of the Waived Payments that have been conditioned in such Waiver on the receipt of such
stockholder approval. 
 (c) If, and to the extent that, such a Participant does not enter into a Waiver, then except as otherwise provided
in Section 6.16(d), the Payments shall be reduced (but not below zero) or eliminated (all as further provided for in Section 6.16(e)) to the extent the Independent Tax Advisor (as defined in Section 6.16(g)) shall reasonably determine
is necessary so that no portion of the Payments shall be subject to the Excise Tax. 
 (d) Notwithstanding the provisions of
Section 6.16(c), if the Independent Tax Advisor reasonably determines that a Participant would receive, in the aggregate, a greater amount of the Payments on an after-tax basis (including all applicable federal, foreign, state, and local
income, employment and other applicable taxes and the Excise Tax) if the Payments were not reduced or eliminated pursuant to Section 6.16(c), then no such reduction shall be made notwithstanding that all or any portion of the Payments may be
subject to the Excise Tax. 

  
 9 

 (e) For purposes of determining which of Section 6.16(c) and Section 6.16(d) shall be
given effect, the determination of which Payments shall be reduced or eliminated to avoid the Excise Tax shall be made by the Independent Tax Advisor, provided that the Independent Tax Advisor shall reduce or eliminate, as the case may be, the
Payments in the following order (and within the category described in each of the following Section 6.16(e)(i) through (iii), in reverse order beginning with the Payments which are to be paid farthest in time except as otherwise provided in
Section 6.16(e)(iii)): 
 (i) by first reducing or eliminating the portion of the Payments otherwise due which are not
payable in cash (other than that portion of the Payments subject to Section 6.16(e)(iii)); 
 (ii) then by reducing or
eliminating the portion of the Payments otherwise due and which are payable in cash (other than that portion of the Payments subject to Section 6.16(e)(iii)); 

(iii) then by reducing or eliminating the portion of the Payments otherwise due that represent equity-based compensation, such
reduction or elimination to be made in reverse chronological order with the most recent equity-based compensation awards reduced first. 

(f) The Independent Tax Advisor shall provide its determinations with respect to a Participant, together with detailed supporting calculations
and documentation, to the Company and such Participant for their review. The determinations of the Independent Tax Advisor under this Section 6.16 shall, after due consideration of the Company’s and such Participant’s comments with
respect to such determinations and the interpretation and application of this Section 6.16, be final and binding on the Company and such Participant absent manifest error. The Company and such Participant shall furnish to the Independent Tax
Advisor such information and documents as the Independent Tax Advisor may reasonably request in order to make the determinations required under this Section 6.16. 

(g) For purposes of this Section 6.16, “Independent Tax Advisor” means a lawyer with a nationally recognized law firm, a
certified public accountant with a nationally recognized accounting firm, or a compensation consultant with a nationally recognized actuarial and benefits consulting firm, in each case with expertise in the area of executive compensation tax law,
who shall be selected by the Company and shall be reasonably acceptable to a Participant (a Participant’s acceptance not to be unreasonably withheld, delayed or conditioned), and all of whose fees and disbursements shall be paid by the Company.

 (h) As used in this Section 6.16, the term “Excise Tax” means, collectively, the excise tax imposed by Code
Section 4999, together with any interest thereon, any penalties, additions to tax, or additional amounts with respect to such excise tax, and any interest in respect of such penalties, additions to tax or additional amounts. 

[Signature Page Follows.] 

  
 10 

 IN WITNESS WHEREOF, the Company has executed this LSF9 Cypress Parent LLC Long Term Incentive
Plan to be effective as of the Effective Date. 
  

			
	LSF9 CYPRESS PARENT LLC
		
	By:	 	/s/ Kyle Volluz
	Name:	 	Kyle Volluz
	Title:	 	Manager

 EXHIBIT A 

Incentive Pool Funding & Payment Example 

The table below is for illustrative purposes only, and is not a guarantee of actual Incentive Pool payments. This table sets forth the range of possible
payments under the Plan assuming a single Monetization Event occurs that results in a Cumulative IRR as indicated. The “Payments” set forth below assume that a Participant holds 100,000 of the total 1,000,000 Pool Units under the Plan and
has received no prior payments under the Plan. Dollar amounts in Columns C through E are in millions. 
  

											
	 A. Cumulative IRR,
Compounded Over
3
Years
	 	 B.
Marginal
Incremental
Funding %
	 	 C. Proceeds (at
maximum Cumulative
IRR
set forth in
Column A)
	 	 D. Marginal Incentive
Pool
Funding
	 	 E. Total Pool Funding
	 	 F. Payout

	 14.99% or less
	 	0.0%	 	< $385	 	—	 	$0.0	 	$0
	 15% up to 20.0%
	 	9.5%	 	< $437	 	$17.5	 	$17.5	 	$1.75
	 20.1% up to 25.0%
	 	12.0%	 	< $494	 	$6.8	 	$24.3	 	$2.43
	 25.1% up to 35.0%
	 	14.0%	 	< $622	 	$18.0	 	$42.3	 	$4.23
	 35.1% up to 50%
	 	17.0%	 	< $854	 	$39.3	 	$81.6	 	$8.16
	 50.1% up to 100.0%
	 	19.0%	 	< $2,024	 	$222.4	 	$304.0	 	$30.40
	 Over 100%
	 	9.5%	 	$2,024.1+	 	—	 	$304.1+	 	$30.4+

  
 A-1 

 Exhibit B 

LSF9 CYPRESS PARENT LLC 

LONG TERM INCENTIVE PLAN 

FORM AWARD AGREEMENT 

This AWARD AGREEMENT (this “Agreement”) is made as of
                     (the “Grant Date”), by and between LSF9 Cypress Parent LLC (the “Company”), and
                     (“Participant”). 

WHEREAS, the Company maintains the LSF9 Cypress Parent LLC Long Term Incentive Plan, as the same may be amended from time to time (the
“Plan”); 
 WHEREAS, pursuant to the Plan, the Administrator has determined that Participant is eligible to participate in
the Plan; and 
 WHEREAS, pursuant to the Plan, the Administrator has approved the grant to Participant of an award of Pool Units pursuant
to the Plan, on the terms and conditions set forth herein. 
 NOW, THEREFORE, in consideration of the foregoing recitals and the covenants
set forth herein, the parties hereto hereby agree as follows: 
  

	1.	Incorporation of Plan. Participant hereby acknowledges that Participant has been provided with a copy of the Plan. The terms and conditions of the Plan, as the same may be amended from time to time, are hereby
incorporated by reference into this Agreement. Should there be any conflict between the terms of this Agreement and the Plan, the terms of this Agreement shall govern. The interpretation and construction by the Administrator of the Plan and this
Agreement and such rules and regulations as may be adopted by the Administrator for the purpose of administering the Plan shall be final and binding upon Participant. Unless specifically defined herein, each capitalized term used herein shall have
the meaning ascribed to such term in the Plan. 

  

	2.	Grant of Award; Certain Terms and Conditions. The Company hereby grants to Participant, and Participant hereby accepts, as of the date hereof, an award of
                     Pool Units (the “Pool Units”), which Pool Units shall be subject to all of the terms and conditions set
forth in the Plan and this Agreement (the “Award”). 

  

	3.	Forfeiture and Settlement of Pool Units. 

  

	 	(a)	Vesting and Forfeiture of Pool Units. 

  

	 	i.	Vesting of Units. A total of [                    ]1
Pool Units shall vest on each of the first three (3) anniversaries of the Grant Date, subject to Participant’s continuous employment with the Company or a Subsidiary thereof (“Continuous Service”) through such vesting
date. Notwithstanding the vested status of any Pool Units, payments shall be made with respect to outstanding Pool Units as of any Monetization Event. 

 

	1 	To reflect 10% of the units granted over each of the first 3 years (for an aggregate of 30% vesting after year 3). 

  
 B-1 

	 	ii.	Termination for Cause. Upon a termination of Participant’s Continuous Service for Cause, all Pool Units (whether vested or unvested) shall be immediately forfeited without any payment made in respect
thereof. 

  

	 	iii.	Termination without Cause, Resignation for Good Reason, Death or Termination due to Disability. Upon a termination of Participant’s Continuous Service without Cause, by reason of Participant’s
resignation for Good Reason, or due to Participant’s death or Disability, all Pool Units (whether vested or unvested) shall remain outstanding for a period of six (6) months from the date of such termination. Immediately thereafter, the
Participant shall forfeit all Pool Units which were unvested as of the date of termination. 

  

	 	iv.	Other Termination. Upon any termination of Participant’s Continuous Service by reason of resignation by the Participant without Good Reason, all unvested Pool Units shall be immediately forfeited.

  

	 	v.	Exit Transaction. All Pool Units granted hereunder shall be immediately forfeited following the occurrence of an Exit Transaction (subject to payment to Participant of all amounts arising under the Plan and this
Agreement as a result of such Exit Transaction, if any). 

  

	 	vi.	Sunset Provision. In the event any Pool Units remain outstanding on the fifth anniversary of the Grant Date, such Pool Units (whether vested or unvested) shall be immediately forfeited on that date or, if later,
upon the date the Participant ceases Continuous Service. 

  

	 	(b)	Payment. In the event that a Monetization Event occurs that results in amounts being credited to the Incentive Pool, Participant shall be entitled to payment in respect of his then outstanding Pool Units (whether
vested or unvested) in accordance with the terms and conditions of this Agreement and Section 5 of the Plan. 

  

	4.	Binding Arbitration. 

  

	 	(a)	 Generally. Participant and the Company agree that any controversy or claim arising out of or relating to
this Agreement, the employment relationship between Participant and the Company or any of its Subsidiaries, or the termination thereof, including the arbitrability of any controversy or claim, which cannot be settled by mutual agreement will be
finally settled by binding arbitration in accordance with the Expedited Arbitration Procedures of Judicial Arbitration & Mediation Service, Inc. (“JAMS”), as set forth in Section 16.1 et seq. of the JAMS rules, or any
successor provision thereto, as follows: Any party aggrieved will deliver a notice to the other party setting forth the specific points in dispute. Any points remaining in dispute twenty (20) days after the giving of such notice may, upon

  
 B-2 

	 	
ten (10) days’ notice to the other party, be submitted to JAMS arbitration conducted before a single neutral arbitrator in Dallas, Texas. The arbitrator shall be appointed by agreement
of the parties hereto or, if no agreement can be reached, by JAMS. The arbitrator may enter a default decision against any party who fails to participate in the arbitration proceedings. Notwithstanding the foregoing, a party who seeks equitable
relief, including injunctive relief, shall not be obligated to utilize the arbitration proceedings required hereunder and instead may seek such relief in any state or federal court sitting in Dallas, Texas. 

 

	 	(b)	Binding Effect. The decision of the arbitrator on the points in dispute will be final, unappealable and binding, and judgment on the award may be entered in any court having jurisdiction thereof. The arbitrator
shall only be authorized to interpret the provisions of this Agreement, and shall not amend, change or add to any such provisions. The parties agree that this provision has been adopted by the parties to rapidly and inexpensively resolve any
disputes between them and that this provision will be grounds for dismissal of any court action commenced by either party with respect to this Agreement, other than post-arbitration actions seeking to enforce an arbitration award or proceedings
seeking equitable relief as permitted under Section 4(a). In the event that any court determines that this arbitration procedure is not binding, or otherwise allows any litigation regarding a dispute, claim, or controversy covered by this
Agreement to proceed, the parties hereto hereby waive any and all right to a trial by jury in or with respect to such litigation. 

  

	 	(c)	Fees and Expenses. Except as otherwise provided in this Agreement, the Plan or by applicable law, the arbitrator will be authorized to apportion its fees and expenses as the arbitrator deems appropriate and the
arbitrator will be authorized to award the prevailing party its fees and expenses (including attorneys’ fees). In the absence of any such apportionment or award, each party will bear its own expenses and the fees of its own attorney.

  

	 	(d)	Confidentiality. The parties and the arbitrator will keep confidential, and will not disclose to any person, except the parties’ advisors and legal representatives, or as may be required by law, the
existence of any controversy under this Section 4, the referral of any such controversy to arbitration or the status or resolution thereof. 

  

	 	(e)	Waiver. Participant acknowledges that arbitration pursuant to this Agreement includes all controversies or claims of any kind (e.g., whether in contract or in tort, statutory or common law, legal or equitable)
now existing or hereafter arising under any federal, state, local or foreign law, including, but not limited to, the Age Discrimination in Employment Act, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1866, the Employee
Retirement Income Security Act, the Family and Medical Leave Act, the Americans With Disabilities Act and all similar federal, state and local laws, and Participant hereby waives all rights thereunder to have a judicial tribunal and/or a jury
determine such claims. 

  
 B-3 

	 	(f)	Acknowledgment. Participant acknowledges that before agreeing to participate in this Agreement, Participant has had the opportunity to consult with any attorney or other advisor of Participant’s choice, and
that this provision constitutes advice from the Company to do so if Participant chooses. Participant further acknowledges that Participant has agreed to participate in this Agreement of Participant’s own free will, and that no promises or
representations have been made to Participant by any person to induce Participant to participate in this Agreement other than the express terms set forth herein. Participant further acknowledges that Participant has read this Agreement and
understands all of its terms, including the waiver of rights set forth in this Section 4. 

  

	5.	No Guarantee of Employment. Nothing in this Agreement or the Plan shall confer upon Participant any right to continue in the employ of the Company or any Subsidiary or interfere in any way with the right of the
Company or a Subsidiary to terminate Participant’s employment at any time and for any reason. 

  

	6.	Pool Unit Not Salary. Neither the grant of Pool Units nor any payment to be made with respect thereto shall be deemed salary or other compensation or remuneration to Participant for the purpose of computing other
benefits to which Participant may be entitled under any severance arrangement, retirement plan, employment agreement or other similar compensation or remuneration scheme or arrangement that the Company or any Subsidiary may now or hereafter have or
adopt. 

  

	7.	Amendment and Cancellation. The Administrator may amend the terms of this Agreement or the Plan, but no such amendment shall reduce the aggregate amount reasonably expected to be paid to Participant or impair the
economic rights of a Participant under this Agreement without the prior written consent of such Participant. The Administrator may, with Participant’s written consent, cancel this Agreement in exchange for a new award under the Plan.

  

	8.	Withholding Taxes. The Company or an Affiliate shall have the right to require Participant to remit to the Company or such Affiliate, or to withhold from other amounts payable to Participant, as compensation or
otherwise, any amount required to satisfy all federal, state and local employment tax and income tax withholding requirements. 

  

	9.	Notices. All notices and other communications under this Agreement and the Plan shall be in writing (including electronically) and shall be given in person or by either personal delivery, personal email with
return receipt requested, facsimile with confirmation of receipt, overnight delivery, or first class mail, certified or registered with return receipt requested, with postal or delivery charges prepaid, and shall be deemed to have been duly given
when delivered personally, emailed, or three days after mailing first class, certified or registered with return receipt requested. 

  

	10.	Entire Agreement. This Agreement and the Plan supersede any and all other agreements either oral or written, between the parties hereto with respect to the subject matter hereof. 

  
 B-4 

	11.	Severability and Waiver. If any provision contained in this Agreement shall be held to be invalid, illegal or unenforceable under present or future laws effective during the term hereof, such provision shall be
fully severable; this Agreement shall be construed and enforced as if such illegal, invalid, or unenforceable provision had never comprised a part hereof; and the remaining provisions hereof shall remain in full force and effect and shall not be
affected by the illegal, invalid, or unenforceable provision or by its severance herefrom. Furthermore, in lieu of such illegal, invalid, or unenforceable provision, there shall be added automatically by the parties as a part hereof a provision as
similar in terms to such illegal, invalid or unenforceable provision as may be possible and be legal, valid and enforceable, and the parties hereby agree to such provision. Waiver by any party of any breach of this Agreement or failure to exercise
any right hereunder shall not be deemed to be a waiver of any other breach or right. The failure of any party to take action by reason of such breach or to exercise any such right shall not deprive the party of the right to take action at any time
while or after such breach or condition giving rise to such rights continues. 

  

	12.	Binding Effect. This Agreement shall be binding upon and inure to the benefit of (i) Participant and Participant’s executors, administrators, personal representatives and heirs, and (ii) the
Company, its successors and assigns. 

  

	13.	Headings and Interpretation. Headings are for convenience only and are not deemed to be part of this Agreement. Unless otherwise indicated, any reference to a Section herein is a reference to a Section of this
Agreement. 

  

	14.	No Guarantee of Tax Consequences. No person connected with this Agreement in any capacity, including, but not limited to, the Company or any Subsidiary and their respective members, partners, 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 award granted to or
for the benefit of Participant or that such tax treatment will apply to or be available to Participant. Participant should consult with Participant’s own tax advisor to determine the tax consequences to Participant that are associated with
participating in the Agreement. 

  

	15.	Participant Acknowledgments. Participant acknowledges by accepting this Agreement and the Award that Participant has reviewed this Agreement and the Plan and agrees to be bound by the terms and provisions hereof
and thereof. Participant further acknowledges that Participant has been advised to consult with Participant’s own attorney, financial advisor and tax advisor concerning the legal, financial and tax matters associated with participating in this
Agreement and the Plan. 

  

	16.	Governing Law. This Agreement shall be construed in accordance with and governed in all respects by the laws of the State of Texas. 

 

	17.	Assignment. No right or interest of Participant under this Agreement and/or the Plan may be assigned, transferred or alienated, in whole or in part, either directly or by operation of law (except by testamentary
disposition or intestate succession), and no such right or interest shall be liable for or subject to any debt, obligation or liability of Participant. 

  
 B-5 

	18.	Compliance With Code Section 409A. The compensation payable to or with respect to any Participant pursuant to this Agreement is intended to be compensation that is not subject to the tax imposed by Internal
Revenue Code Section 409A, and this Agreement shall be administered and construed to the fullest extent possible to reflect and implement such intent. Each payment under this Agreement and the Plan is intended to be a “separate
payment” and not a series of payments for purposes of Section 409A. 

 [signature page follows] 

  
 B-6 

 IN WITNESS WHEREOF, the Administrator, acting on behalf of the Company, and the Participant have
executed this Agreement as of the day and year first above written. 
  

			
	LSF9 CYPRESS PARENT LLC 
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

			
	PARTICIPANT:
	
	 

  
 B-7

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