Document:

EX-10.3

 Exhibit 10.3 

Driven Brands Holdings Inc. 

Employee Stock Purchase Plan 
 1.
Purpose. The purpose of this Employee Stock Purchase Plan (the “Plan”) of Driven Brands Holdings, Inc., a Delaware corporation (the “Company”), is to provide eligible Employees of the Company and
its Designated Subsidiaries with a convenient opportunity to purchase Common Stock of the Company. It is the intention of the Company to have the Plan qualify as an “Employee Stock Purchase Plan” under Section 423 of the Code. The
provisions of the Plan shall, accordingly, be construed so as to extend and limit participation in a manner consistent with the requirements of that section of the Code. 

2. Definitions. The following definitions shall apply throughout the Plan. 

(a) “Board” means the Board of Directors of the Company. 

(b) “Code” means the United States Internal Revenue Code of 1986, as amended, and any successor thereto. References to any
section of the Code shall be deemed to include any regulations or other interpretative guidance under such section, and any amendments or successors thereto. 

(c) “Committee” means a committee appointed by the Board. In the absence of a contrary designation by the Board, the
Compensation Committee of the Board shall be the Committee hereunder. 
 (d) “Common Stock” means the common stock of the
Company, par value $0.01 per share (and any stock or other securities into which such common stock may be converted or into which it may be exchanged). 

(e) “Company” has the meaning set forth in Section 1. 

(f) “Compensation” means the base pay (determined on such date as may be established by the Committee) received by an
Employee from the Company or a Designated Subsidiary. Base pay shall (i) be determined prior to any salary reduction contributions under a cafeteria plan pursuant to Section 125 of the Code, any salary reduction amounts pursuant to a
qualified transportation benefit program pursuant to Section 132(f) of the Code, and any elective deferrals to a nonqualified deferred compensation plan and to a cash or deferred plan pursuant to Section 401(k) of the Code and
(ii) exclude any imputed income arising under any group insurance or benefit program, travel expenses, business and relocation expense, and income received in connection with stock options or other equity-based awards. 

(g) “Continuous Status as an Employee” means the absence of any interruption or termination of service as an Employee.
Continuous Status as an Employee shall not be considered interrupted in the case of (i) sick leave, military leave, or other bona fide leave of absence that is required by law to be considered uninterrupted service or that is otherwise approved
by the Committee if the period of such leave does not exceed 90 days, or if longer, so long as the individual’s right to reemployment as an 

 
Employee is guaranteed either by contract or statute; or (ii) transfers between locations of the Company or between and among the Company and its Designated Subsidiaries. For purposes of
clarification, the disposition of a Designated Subsidiary shall constitute a termination of the Continuous Status as an Employee of any Employee employed by such Designated Subsidiary. 

(h) “Contributions” means all amounts credited to the notional account of a Participant pursuant to the Plan. 

(i) “Corporate Transaction” means a sale of all or substantially all of the Company’s assets, or a merger,
consolidation, or other capital reorganization of the Company with or into another corporation, or any other transaction or series of related transactions in which the Company’s stockholders immediately prior thereto own less than 50% of the
voting stock of the Company (or its successor or ultimate parent company) immediately thereafter, but excluding any acquisition of voting stock by the Company or any of its affiliates or by any employee benefit plan sponsored or maintained by the
Company or any of its affiliates. 
 (j) “Designated Subsidiaries” means all Subsidiaries organized under the laws of any
state of the United States of America, except with respect to any of such Subsidiaries that the Committee has determined is not eligible to participate in the Plan. 

(k) “Employee” means any person who (i) has had Continuous Status as an Employee of the Company or one of its Designated
Subsidiaries for a period of at least sixty (60) days, (ii) is customarily employed thereby for at least 20 hours per week and more than five (5) months in a calendar year, and (iii) is classified as an employee for tax purposes. 

(l) “Exchange Act” means the United States Securities Exchange Act of 1934, as amended, and any successor thereto. References
to any section of (or rule promulgated under) the Exchange Act shall be deemed to include any rules, regulations or other interpretative guidance under such section or rule, and any amendments or successors thereto. 

(m) “Fair Market Value” means, for any date, with respect to a Share, the closing sales price of a Share on the primary
exchange on which the Common Stock is traded on such date or, in the event that the Common Stock is not traded on such date, then the immediately preceding trading date. In the absence of an established market for Common Stock, the Fair Market Value
of a Share shall be determined in good faith by the Committee and such determination shall be conclusive and binding on all persons. The “Fair Market Value” of all other property shall be determined in good faith by the Committee,
and such determination shall be conclusive and binding on all persons. 
 (n) “Indemnifiable Person” shall have the meaning
ascribed to it in Section 27. 

  
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 (o) “Maximum Number of Shares” means, with respect to a given Offering
Period, a number of Shares equal to the quotient of (x) $25,000 divided by (y) the Fair Market Value of a Share on the Offering Date. 

(p) “New Purchase Date” shall have the meaning ascribed to it in Section 16(b). 

(q) “Offering Date” means the first day of each Offering Period, as determined in accordance with Section 3. 

(r) “Offering Period” means a period described in Section 3. 

(s) “Plan” has the meaning set forth in Section 1. 

(t) “Plan Administrator” means the Committee, or such other institution selected by the Committee. 

(u) “Participant” means an eligible Employee who has elected to participate in the Plan in accordance with Section 5.

 (v) “Purchase Date” means, unless otherwise determined by the Committee, December 31 of each calendar year or, in
the event that the Common Stock is not traded on such date, the immediately preceding trading date, as applicable. 
 (w) “Purchase
Price” means, with respect to a given Offering Period, an amount equal to 85% (or such greater percentage as designed by the Committee) of the Fair Market Value of a Share on (i) the Purchase Date or (ii) the Offering Date,
whichever amount is lower; provided, that the Purchase Price will in no event be less than the par value of a Share. 
 (x)
“Reserves” shall have the meaning ascribed to it in Section 16(a). 
 (y) “Rule
16b-3” means Rule 16b-3 adopted under Section 16 of the Exchange Act. 

(z) “Securities Act” means the United States Securities Act of 1933, as amended, and any successor thereto. References to any
section of (or rule promulgated under) the Securities Act shall be deemed to include any rules, regulations or other interpretative guidance under such section or rule, and any amendments or successors thereto. 

(aa) “Share” means a share of Common Stock, as adjusted in accordance with Section 16. 

(bb) “Subsidiary” means a corporation which is a “subsidiary corporation” of the Company within the meaning of
Section 424(f) of the Code. 

  
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 3. Offering Periods. The Plan shall be implemented by a series of consecutive Offering Periods
commencing on January 1 and ending on December 31 of each calendar year. The Committee shall have the authority to change the duration (subject to a maximum Offering Period of 27 months), frequency, start date, and end dates of Offering
Periods. 
 4. Eligibility. Subject to the requirements of Section 5 and the limitations imposed by Section 423(b) of the Code (and
unless different dates are established by the Committee in respect of any Offering Period), a person shall be eligible to participate in an Offering Period if such person is an Employee as of the date on which an election for participation in the
Offering is required pursuant to Section 5(b) below; provided, however, that the Committee may provide that an Employee shall not be eligible to participate in an Offering Period if: (i) such Employee is a highly compensated
employee within the meaning of Section 423(b)(4)(D) of the Code; (ii) such Employee has not met a service requirement designated by the Committee pursuant to Section 423(b)(4) (A) of the Code (which service requirement may not exceed
two years); and/or (iii) such Employee is a citizen or resident of a foreign jurisdiction and the grant of a right to purchase Common Stock under the Plan to such Employee would be prohibited under the laws of such foreign jurisdiction or the
grant of a right to purchase Common Stock under the Plan to such Employee in compliance with the laws of such foreign jurisdiction would cause the Plan to violate the requirements of Section 423 of the Code, as determined by the Committee in
its sole discretion; provided, further, that any exclusion in clause (i), (ii) or (iii) shall be applied in an identical manner under each Offering Period to all Employees, in accordance with Treasury Regulation Section 1.423-2(e). 
 5. Participation. 

(a) Participation in the Plan is completely voluntary. Except as set forth in Section 7(b) below, participation in one or more of the
offerings under the Plan shall neither limit, nor require, participation in any other offering. 
 (b) An eligible Employee may become a
Participant in respect of an Offering Period by electing to participate in the manner approved by the Committee. An Employee who elects to participate in an Offering Period shall do so at least ten (10) days prior to the Offering Date, unless a
different time for electing to participate (including following the Offering Date) is set by the Committee. 
 (c) A Participant’s
election shall indicate either a fixed dollar amount or a percentage of such Participant’s Compensation, in either case, as may be determined by the Committee, to be contributed during the applicable Offering Period; provided,
however, that a Participant’s election shall be subject to the limitations of Section 7(b). 
 (d) The deduction rate
selected by a Participation shall remain in effect for subsequent Offering Periods unless the Participant (i) submits a new election in the manner approved by the Committee, (ii) withdraws from the Plan, or (iii) terminates employment
or otherwise becomes ineligible to participate in the Plan. 

  
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 6. Method of Payment of Contributions. 

(a) Payroll deductions shall be made from a Participant’s Compensation during an Offering Period in an aggregate amount equal to the
Participant’s contribution election for such Offering Period. All payroll deductions made by a Participant shall be credited to his or her notional account under the Plan. Participant may not make a prepayment or any additional payments into
such notional account. Payroll deductions in respect of any Offering Period shall commence on the Offering Date and shall end on the final day of the final payroll period ending on or prior to the applicable Purchase Date, unless sooner terminated
by the Participant as provided in Section 10. 
 (b) Participants on an authorized leave of absence during an Offering Period may
continue to participate in such Offering Period; provided, however, that a Participant on an authorized leave of absence will have contributions suspended during such leave of absence and, absent any other instruction from such
Participant, such contributions will resume upon the next payroll following such Participant’s return from such leave of absence. 

(c) Notwithstanding the foregoing, to the extent necessary to comply with Section 423(b)(8) of the Code and Section 7(b) herein, a
Participant’s payroll deductions may be decreased by the Company to zero during any Offering Period. 
 7. Grant of Option. 

(a) On each Offering Date, each Participant shall be deemed to have been granted an option to purchase as many Shares (rounded down to the
nearest whole Share) as may be purchased with his or her Contributions during the related Offering Period at the Purchase Price; provided, however, that such option shall be subject to the limitations set forth in Section 7(b)
below and Section 11, and may be reduced pursuant to Section 6, in each case, if applicable. 
 (b) Notwithstanding any contrary
provisions of the Plan, each option to purchase Shares under the Plan shall be limited as necessary to prevent any Employee from (i) immediately after the grant, owning capital stock of the Company and holding outstanding options to purchase
capital stock of the Company possessing, in the aggregate, more than 5% of the total combined voting power or value of all classes of stock of the Company or of any Subsidiary, including for this purpose any stock attributed to such Employee
pursuant to Section 424(d) of the Code, (ii) acquiring rights to purchase stock under all employee stock purchase plans (as described in Section 423 of the Code or any other similar arrangements maintained by the Company or any of its
Subsidiaries) of the Company and its Subsidiaries which accrue at a rate that exceeds $25,000 of the Fair Market Value of such stock (determined at the time such option is granted) for each calendar year in which such option is outstanding and
exercisable at any time, or (iii) purchasing, in respect of any Offering Period, more than the Maximum Number of Shares. 

  
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 8. Exercise of Option; Interest. 

(a) Unless a Participant withdraws from the Plan as provided in Section 10, his or her option for the purchase of Shares will be exercised
automatically on the applicable Purchase Date, and the number of full Shares subject to the option will be purchased at the applicable Purchase Price with the accumulated Contributions in his or her notional account. No fractional Shares shall be
issued. Any amounts accumulated in a Participant’s notional account that are not used to purchase Shares (other than any amount that is not sufficient to purchase a full Share, which shall be automatically carried forward to the next Offering
Period) shall be refunded to the Participant as soon as practicable following the Purchase Date. Notwithstanding Section 9 below, the Shares purchased upon exercise of an option hereunder shall be deemed to be transferred to the Participant as
of the Purchase Date. During his or her lifetime, a Participant’s option to purchase Shares hereunder is exercisable only by him or her. 

(b) At the time an option granted under the Plan is exercised, in whole or in part, or at the time some or all of the Common Stock issued to a
Participant under the Plan is disposed of, the Participant must make adequate provisions for any applicable federal, state, or other tax withholding obligations, if any, that arise upon the Purchase Date or the disposition of the Common Stock. At
any time, the Company or a Designated Subsidiary may, but will not be obligated to, withhold from the Participant’s compensation the amount necessary to meet applicable withholding obligations, including any withholding required to make
available to the Company any tax deductions or benefits attributable to the sale or disposition of Common Stock by the Participant earlier than as described in Section 423(a)(1) of the Code. 

(c) No interest will be paid or allowed on any money paid into the Plan or credited to the notional account of any Participant. 

9. Delivery. As promptly as practicable after each Purchase Date, the number of Shares purchased by each Participant upon exercise of his
or her option shall be deposited into an account established in the Participant’s name with the Plan Administrator. The Committee may determine that no Share purchased in respect of an offering may be transferred out of such Participant’s
account with the Plan Administrator other than in connection with a “disposition” (as such term is used in Section 423(a)(1) of the Code) of such Share for the longer of (x) two (2) years following the Offering Date applicable to
such Share and (y) one (1) year following the Purchase Date applicable to such Share. 
 10. Voluntary Withdrawal; Termination of Employment.

 (a) A Participant may withdraw all but not less than all the Contributions credited to his or her notional account under the Plan at
any time prior to the applicable Purchase Date by giving written notice to the Plan Administrator in the manner directed by the Company. All of the Participant’s Contributions credited to his or her notional account with respect to an Offering
Period will be paid to him or her as soon as administratively practicable after receipt of his or her notice of withdrawal, his or her option for the current Offering Period will be automatically terminated, and no further Contributions for the
purchase of Shares may be made by the Participant with respect to such Offering Period. A Participant’s withdrawal from the Plan during an Offering Period will not have any effect upon his or her eligibility to participate in a succeeding
Offering Period or in any similar plan that may hereafter be adopted by the Company. 

  
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 (b) Upon termination of the Participant’s Continuous Status as an Employee prior to a
Purchase Date for any reason, including retirement or death, the Contributions credited to his or her notional account will be returned to him or her, and his or her option will be automatically terminated; provided, however, that in
the event of the death of a Participant, the Company shall deliver the Contributions to the executor or administrator of the estate of the Participant or, if no such executor or administrator has been appointed (to the knowledge of the Company), the
Company, in its discretion, may deliver such amounts to the spouse or to any one or more dependents or relatives of the Participant. 
 11. Shares.

 (a) Subject to adjustment as provided in Section 16, the maximum number of Shares that shall be made available for sale under the
Plan shall be 1,790,569. If the Committee determines at any time that, on a given Purchase Date, the number of Shares with respect to which options are to be exercised may exceed the number of Shares that are available for sale under the Plan on
such Purchase Date, the Company shall make a pro rata allocation of the Shares available for purchase on such Purchase Date, in as uniform a manner as shall be practicable and as it shall determine to be equitable among all Participants exercising
options to purchase Common Stock on such Purchase Date, and the Committee may, in its discretion (x) continue all Offering Periods then in effect, or (y) terminate any or all Offering Periods then in effect pursuant to Section 17
below. 
 (b) Shares to be delivered to a Participant under the Plan will be registered in the name of the Participant. 

12. Administration. 
 (a) Subject to the
express provisions of the Plan, the Committee shall administer the Plan and shall have the sole and plenary power to (i) interpret and administer, reconcile any inconsistency in, correct any defect in, and supply any omission in the Plan;
(ii) establish, amend, suspend, or waive any rules and regulations and appoint such agents as the Committee shall deem appropriate for the proper administration of the Plan; and (iii) make any other determination and take any other action
that the Committee deems necessary or desirable for the administration of the Plan, including, without limitation to the foregoing, by changing the duration (subject to a maximum Offering Period of 27 months), frequency, start date, and end dates of
Offering Periods and/or the Purchase Dates. The authority of the Committee includes, without limitation, the authority to (x) determine procedures for setting or changing payroll deduction percentages, and obtaining necessary tax withholdings,
and (y) adopt amendments to the Plan in accordance with Section 17. All designations, determinations, interpretations, and other decisions by the Committee (or its delegate) regarding the Plan shall be within the sole discretion of the
Committee, may be made at any time, and shall be final, conclusive, and binding upon all persons or entities, including, without limitation, the Company, any affiliate, any Participant, any holder or beneficiary of any option, and any shareholder of
the Company. The expenses of administering the Plan shall be borne by the Company. 

  
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 (b) The Committee may delegate any or all of its authority and obligations under this Plan
to such committee or committees (including without limitation, a committee of the Board) or officer(s) of the Company as they may designate. 

(c) Nothing in the Plan shall be deemed to authorize the Committee to take any action contrary to applicable law or regulation, or rules of
the New York Stock Exchange or any other securities exchange or inter-dealer quotation service on which the Common Stock is listed or quoted. 

(d) Notwithstanding any delegation of authority hereunder, the Board may itself take any action permitted under the Plan in its discretion at
any time, and any reference in this Plan document to the rights and obligations of the Committee shall be construed to apply equally to the Board. Any references to the Board mean the Board only. 

13. Transferability. Neither amounts accumulated in a Participant’s notional account nor any rights with regard to the exercise of an
option or to receive Shares under the Plan may be assigned, transferred, pledged, or otherwise disposed of in any way (other than by will or by the laws of descent and distribution, or as provided in Section 10) by the Participant. Any such
attempt at assignment, transfer, pledge, or other disposition shall be without effect, except that the Company may treat such act as an election to withdraw funds in accordance with Section 10. 

14. Use of Funds. All Contributions received or held by the Company under the Plan may be used by the Company for any corporate purpose, and the
Company shall not be obligated to segregate such Contributions. 
 15. Reports. Statements of account will be made available to Participants
by the Company or the Plan Administrator in the form and manner designated by the Committee. 
 16. Adjustments Upon Changes in Capitalization; Corporate
Transactions. 
 (a) Subject to any required action by the stockholders of the Company, (i) the number of Shares covered by each
option under the Plan that has not yet been exercised, (ii) the number of Shares that have been authorized for issuance under the Plan but that have not yet been placed under option (collectively, the “Reserves”),
(iii) the number of Shares set forth in Section 11 above, and (iv) the Purchase Price for each then-current Offering Period shall, if applicable, be proportionately adjusted for any increase or decrease in the number of issued Shares
resulting from a stock split, a reverse stock split, a stock dividend, a subdivision, combination, or reclassification of the Common Stock (including any such change in the number of shares of Common Stock effected in connection with a change in
domicile of the Company), or any other increase or decrease in the number of Shares effected without receipt of consideration by the Company, or any increase or decrease in the value of a Share resulting from a spinoff or split-up; provided, 

  
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however, that conversion of any convertible securities of the Company shall not be deemed to have been “effected without receipt of consideration.” Such adjustment shall be made
by the Committee, whose determination in that respect shall be final, binding, and conclusive. Except as expressly provided above, no issue by the Company of shares of stock of any class, or securities convertible into shares of stock of any class,
shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of Shares subject to an option. 
 (b)
In the event of a dissolution or liquidation of the Company, any Offering Period then in progress will terminate immediately prior to the consummation of such action, unless otherwise provided by the Committee. In the event of a Corporate
Transaction, each option outstanding under the Plan shall be assumed or an equivalent option shall be substituted by the successor corporation or a parent or subsidiary of such successor corporation. If the successor corporation (or its parent or
subsidiary) refuses to assume or substitute for outstanding options, each Offering Period then in progress shall be shortened and a new Purchase Date shall be set by the Committee (the “New Purchase Date”), as of which New Purchase
Date any Offering Period then in progress will terminate. The New Purchase Date shall be on or before the date of consummation of the Corporate Transaction, and the Company shall notify each Participant in writing, at least ten (10) days prior
to the New Purchase Date, that the Purchase Date for his or her option has been changed to the New Purchase Date and that his or her option will be exercised automatically on the New Purchase Date, unless prior to such date he or she has withdrawn
from the Offering Period as provided in Section 10. For purposes of this Section 16, an option granted under the Plan shall be deemed to be assumed, without limitation, if at the time of issuance of the stock or other consideration upon a
Corporate Transaction, each holder of an option under the Plan would be entitled to receive upon exercise of the option the same number and kind of Shares or the same amount of property or cash, or number of securities (or combination thereof) as
such holder would have been entitled to receive upon the occurrence of the transaction if the holder had been, immediately prior to the transaction, the holder of the number of shares of Common Stock covered by the option at such time (after giving
effect to any adjustments in the number of Shares covered by the option as provided for in this Section 16); provided, however, that if the consideration received in the transaction is not solely common stock of the successor
corporation or its parent (as defined in Section 424(e) of the Code), the Committee may, with the consent of the successor corporation, provide for the consideration to be received upon exercise of the option to be solely common stock of the
successor corporation or its parent or subsidiary equal in Fair Market Value to the per-Share consideration received by holders of Common Stock in the transaction. 

(c) If the Company consummates the sale or transfer of a Designated Subsidiary, business unit, or division to an unaffiliated person or
entity, or the spin-off of a Designated Subsidiary, business unit, or division to shareholders during an Offering Period, the Contributions credited to the notional account of each Participant employed by such
Designated Subsidiary, business unit, or division, as applicable, as of the time of such sale, transfer, or spin-off with respect the offering to which such Offering Period relates will be returned to the
Participant without interest, and the Participant’s option will be automatically terminated. 

  
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 (d) The existence of the Plan shall not affect or restrict in any way the right or power of
the Company, the Board, the Committee, or the shareholders of the Company to make or authorize any adjustment, recapitalization, reorganization, or other change in the Company’s capital structure or its business, any merger or consolidation of
the Company, any issue of stock or of options, warrants, or rights to purchase stock or of bonds, debentures, or preferred or prior-preference stocks whose rights are superior to or affect the Common Shares or the rights thereof or that are
convertible into or exchangeable for Common Shares, or the dissolution or liquidation of the Company or any Affiliate, or any sale or transfer of all or any part of their assets or business, or any other corporate act or proceeding, whether of a
similar character or otherwise. 
 17. Amendment or Termination. 

(a) The Board may amend, alter, suspend, discontinue, or terminate the Plan or any portion thereof at any time; provided, that no such
amendment, alteration, suspension, discontinuation, or termination shall be made without shareholder approval if such approval is necessary to comply with any tax or regulatory requirement applicable to the Plan (including, without limitation, as
necessary to comply with any applicable rules or requirements of any securities exchange or inter-dealer quotation service on which the Shares may be listed or quoted); provided, further, that any such amendment, alteration,
suspension, discontinuance, or termination that would materially and adversely affect the rights of any Participant shall not to that extent be effective without the consent of the affected Participant unless the Committee determines that such
amendment, alteration, suspension, discontinuance, or termination is either required or advisable in order for the Company or the Plan to satisfy any applicable law or regulation. 

(b) Except as provided in Section 16, no such termination of the Plan may affect options previously granted, provided that the Plan or an
Offering Period may be terminated by the Board on a Purchase Date or by the Board’s setting a new Purchase Date with respect to an Offering Period then in progress if the Board determines that termination of the Plan and/or the Offering Period
is in the best interests of the Company and the stockholders or if continuation of the Plan and/or the Offering Period would cause the Company to incur adverse accounting charges as a result of a change after the effective date of the Plan in the
generally accepted accounting principles applicable to the Plan. 
 (c) Without stockholder consent and without regard to whether any
Participant rights may be considered to have been adversely affected, the Committee shall be entitled to change the Offering Periods, limit the frequency and/or number of changes in the amount withheld that may be made during an Offering Period,
permit payroll withholding in excess of the amount designated by a Participant in order to adjust for delays or mistakes in the Company’s processing of properly completed withholding elections, establish reasonable waiting and adjustment
periods and/or accounting and crediting procedures to ensure that amounts applied toward the purchase of Common Stock for each Participant properly correspond with amounts withheld from the Participant’s Compensation, and establish such other
limitations or procedures as the Committee determines in its sole discretion advisable that are consistent with the Plan. 

  
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 18. No Rights to Continued Employment. Neither the Plan nor any action taken hereunder shall
be construed as giving any Participant any right to be retained in the employ or service of the Company or an affiliate, or to continue in the employ or the service of the Company or an affiliate. 

19. Beneficiary Designation. The Participant’s beneficiary shall be the Participant’s spouse (or domestic partner if such status is
recognized by the Company and in such jurisdiction), or if the Participant is otherwise unmarried at the time of death, the Participant’s estate, except to the extent that a different beneficiary is designated in accordance with procedures that
may be established by the Committee from time to time for such purpose. Notwithstanding the foregoing, in the absence of a beneficiary validly designated under such Committee-established procedures and/or applicable law who is living (or in
existence) at the time of death of a Participant residing or working outside the United States, any required distribution under the Plan shall be made to the executor or administrator of the estate of the Participant, or to such other individual as
may be prescribed by applicable law. 
 20. Equal Rights and Privileges. Notwithstanding any provision of the Plan to the contrary and in
accordance with Section 423 of the Code, all eligible Employees who are granted options under the Plan shall have the same rights and privileges. 

21. No Rights as a Shareholder. Except as otherwise specifically provided in the Plan, no person shall be entitled to the privileges of
ownership in respect of Shares that are subject to options hereunder until such Shares have been issued or delivered to that person. 
 22.
Withholding. To the extent required by applicable federal, state, or local law, a Participant must make arrangements satisfactory to the Company for the payment of any withholding or similar tax obligations that arise in connection with the
Plan. 
 23. Notices. All notices or other communications by a Participant to the Company under or in connection with the Plan shall be deemed
to have been duly given when received in the form specified by the Company at the location, or by the person, designated by the Company for the receipt thereof. 

24. Conditions Upon Issuance of Shares. 

(a) The Plan and the issuance and delivery of Shares under the Plan are subject to compliance with all applicable U.S. federal, state, local,
and non-U.S. laws, rules, and regulations (including but not limited to state, U.S. federal, and non-U.S. securities law, and margin requirements) and to such approvals
by any listing, regulatory, or governmental authority as may, in the opinion of counsel for the Company, be necessary or advisable in connection therewith. Any securities delivered under the Plan shall be subject to such restrictions, and the person
acquiring such securities shall, if requested by the Company, provide such assurances and representations to the Company as the Company may deem necessary or desirable to assure compliance with all applicable legal requirements. To the extent
permitted by applicable law, the Plan shall be deemed amended to the extent necessary to conform to such laws, rules, and regulations. 

  
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 (b) Notwithstanding any terms or conditions of the Plan to the contrary, the Company shall
be under no obligation to offer to sell or to sell, and shall be prohibited from offering to sell or selling, any Shares pursuant to the Plan unless such Shares have been properly registered for sale pursuant to the Securities Act with the
Securities and Exchange Commission or unless the Company has received an opinion of counsel, satisfactory to the Company, that such Shares may be offered or sold without such registration pursuant to and in compliance with the terms of an available
exemption. The Company shall be under no obligation to register for sale under the Securities Act any of the Shares to be offered or sold under the Plan. The Committee shall have the authority to provide that all Shares delivered under the Plan
shall be subject to such stop-transfer orders and other restrictions as the Committee may deem advisable under the Plan, U.S. federal securities laws, or the rules, regulations, and other requirements of the Securities and Exchange Commission, any
securities exchange or inter-dealer quotation service upon which such Shares are then listed or quoted and any other applicable federal, state, local or non-U.S. laws, rules, regulations, and other
requirements, and the Committee may cause a legend or legends to be put on any such certificates of Common Stock delivered under the Plan to make appropriate reference to such restrictions or may cause such Common Stock delivered under the Plan in
book-entry form to be held subject to the Company’s instructions or subject to appropriate stop-transfer orders. 
 25. Term of Plan;
Effective Date. The Plan was adopted by the Board on January 6, 2021, and approved by the Company’s stockholders on January 14, 2021. The Plan shall be effective on January 14, 2021 (the “Effective Date”),
and shall continue in force and effect until terminated under Section 17. Unless sooner terminated by the Board, the Plan shall terminate upon the earliest of (i) the ten (10) year anniversary of the Effective Date and (ii) the
date on which all shares available for issuance under the Plan have been sold. 
 26. Additional Restrictions of Rule 16b-3. The terms and conditions of options granted hereunder to, and the purchase of Shares by, persons subject to Section 16 of the Exchange Act shall comply with the applicable provisions of Rule 16b-3. This Plan shall be deemed to contain, and such options shall contain, and the Shares issued upon exercise thereof shall be subject to, such additional conditions and restrictions as may be required by Rule 16b-3 to qualify for the maximum exemption from Section 16 of the Exchange Act with respect to Plan transactions. 

27. Indemnification. No member of the Board or the Committee, nor any employee or agent of the Company exercising authority delegated by the
Board or the Committee hereunder (each such person, an “Indemnifiable Person”), shall be liable for any action taken or omitted to be taken or any determination made in the administration of the Plan (unless constituting fraud or a
willful criminal act or willful criminal omission). Each Indemnifiable Person shall be indemnified and held harmless by the Company against and from any loss, cost, liability, or expense (including attorneys’ fees) that may be imposed upon or
incurred by such Indemnifiable Person in connection with or resulting from any action, suit, or proceeding to which such Indemnifiable Person may be involved 

  
 12 

 
as a party or witness or otherwise by reason of any action taken or omitted to be taken or determination made under the Plan and against and from any and all amounts paid by such Indemnifiable
Person with the Company’s approval (not to be unreasonably withheld) in settlement thereof, or paid by such Indemnifiable Person in satisfaction of any judgment in any such action, suit, or proceeding against such Indemnifiable Person, and the
Company shall advance to such Indemnifiable Person any such expenses promptly upon written request (which request shall include an undertaking by the Indemnifiable Person to repay the amount of such advance if it shall ultimately be determined as
provided below that the Indemnifiable Person is not entitled to be indemnified); provided, that the Company shall have the right, at its own expense, to assume and defend any such action, suit, or proceeding, and once the Company gives notice
of its intent to assume the defense, the Company shall have sole control over such defense with counsel of recognized standing of the Company’s choice. The foregoing right of indemnification shall not be available to an Indemnifiable Person to
the extent that a final judgment or other final adjudication (in either case not subject to further appeal) binding upon such Indemnifiable Person determines that the acts or omissions or determinations of such Indemnifiable Person giving rise to
the indemnification claim resulted from such Indemnifiable Person’s fraud or willful criminal act or willful criminal omission or that such right of indemnification is otherwise prohibited by law or by the Company’s certificate of
incorporation or by-laws. The foregoing right of indemnification shall not be exclusive of or otherwise supersede any other rights of indemnification to which such Indemnifiable Persons may be entitled under
the Company’s certificate of incorporation or by-laws, as a matter of law, individual indemnification agreement or contract or otherwise, or any other power that the Company may have to indemnify such
Indemnifiable Persons or hold them harmless. 
 28. Nonexclusivity of the Plan. Neither the adoption of the Plan by the Board nor the
submission of the Plan to the shareholders of the Company for approval shall be construed as creating any limitations on the power of the Board to adopt such other incentive arrangements as it may deem desirable, including, without limitation, the
granting of stock options or awards otherwise than under the Plan, and such arrangements may be either applicable generally or only in specific cases. 

29. No Trust or Fund Created. The Plan shall not create or be construed to create a trust or separate fund of any kind or a fiduciary
relationship between the Company or any affiliate, on the one hand, and the Participant or other person or entity, on the other hand. No provision of the Plan shall require the Company, for the purpose of satisfying any obligations under the Plan,
to purchase assets or place any assets in a trust or other entity to which contributions are made or to otherwise segregate any assets, nor shall the Company maintain separate bank accounts, books, records, or other evidence of the existence of a
segregated or separately maintained or administered fund for such purposes. Participants shall have no rights under the Plan other than as unsecured general creditors of the Company. 

  
 13 

 30. Reliance on Reports. Each member of the Committee and each member of the Board (and each
such member’s respective designees) shall be fully justified in acting or failing to act, as the case may be, and shall not be liable for having so acted or failed to act in good faith, in reliance upon any report made by the independent
registered public accounting firm of the Company and its affiliates and/or any other information furnished in connection with the Plan by any agent of the Company or the Committee or the Board, other than such member or designee. 

31. Relationship to Other Benefits. No payment under the Plan shall be taken into account in determining any benefits under any pension,
retirement, profit sharing, group insurance, or other benefit plan of the Company except as otherwise specifically provided in such other plan. 

32. Governing Law. The Plan shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to
principles of conflicts of laws thereof, or principles of conflicts of laws of any other jurisdiction that could cause the application of the laws of any jurisdiction other than the State of Delaware. 

33. Severability. If any provision of the Plan is or becomes or is deemed to be invalid, illegal, or unenforceable in any jurisdiction or as to
any person or entity, or would disqualify the Plan under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to the applicable laws, or if it cannot be construed or deemed amended without, in
the determination of the Committee, materially altering the intent of the Plan, such provision shall be construed or deemed stricken as to such jurisdiction, person, or entity, and the remainder of the Plan shall remain in full force and effect.

 34. Titles and Headings. The titles and headings of the sections in the Plan are for convenience of reference only, and in the event of any
conflict, the text of the Plan, rather than such titles or headings shall control. 
 * * * 

  
 14EX-10.1

 Exhibit 10.1 
  

 
  

			
	 Soma Somasundaram
 President &
CEO
	  	 Phone: 281-602-2164 (O)

630-400-2379(M)

Email: SomaS@championx.com

 January 15, 2021 
 Via e-mail 
 Mr. Kenneth M. Fisher 

Dear Ken, 
 On behalf of Apergy USA, Inc., I am delighted to
extend to you an offer for employment as Executive Vice President and Chief Financial Officer of ChampionX Corporation (the “Company”). In this position, you will be reporting to me. As discussed, your start date will be
February 1, 2021 or an earlier date mutually agreed upon between you and the Company (the date on which your employment commences, your “Start Date”). Your principal place of employment will be at the Company’s office in
The Woodlands, Texas, subject to reasonable business travel as may be required to perform your duties. 
 The following is a summary of your eligible
compensation and benefits for this position, subject to the terms of this offer letter (the “Offer Letter”) and the applicable plans or policies in effect from time to time: 

 

	 	•	 	 Annual Base Salary. During your employment with the Company, you will receive an annualized base salary of
$590,000 (“Base Salary”), less applicable taxes and other withholdings, payable in accordance with the Company’s payroll practices in effect from time to time. Your first salary review will be in the first quarter of 2022 and
any adjustments to your Base Salary will be made in the sole discretion of the Compensation Committee of the Company’s Board of Directors (the “Committee”). 

 

	 	•	 	 Target Annual Performance Bonus. For each fiscal year during your employment with the Company, you will be
eligible to earn a discretionary annual performance bonus (“Annual Bonus”), targeted at 90% of your Base Salary (the “Target Bonus”), with the actual amount of the Annual Bonus, if any, based on attainment of
individual and Company performance objectives and goals established by the Committee from time to time, subject to the terms of the ChampionX Executive Officer Annual Incentive Plan (the “Bonus Plan”) as in effect from time to time.
Your 2021 Annual Bonus will be pro-rated. The Annual Bonus for any given fiscal year, if any, shall be payable no later than March 15th following the end of the fiscal year to which the Annual Bonus relates,
subject to your continued employment with the Company through the end of the applicable performance period. Please refer to the Bonus Plan for more information, provided, that if there are any terms set forth in the Bonus Plan that are contrary to
the terms of this Offer Letter, the terms of this Offer Letter shall control. 

  

	 	•	 	 Long-Term Incentive Plan. Subject to approval by the Committee, during each fiscal year of your employment
with the Company, you will be eligible to receive an annual equity grant (each, an “Annual Equity Grant”) under the ChampionX Corporation Amended and Restated 2018 Equity and Cash Incentive Plan or such other equity plan approved by
the Company’s shareholders then in effect (the “Plan”) with a fair market value equal to approximately $1,400,000 at the time of grant. The form of each Annual Equity Grant will be determined in the Committee’s sole
discretion. Each Annual Equity Grant will be subject to the terms and conditions of the Plan and the grant agreement(s) evidencing such Annual Equity Grant. Nothing in this Offer Letter shall be construed to give you any rights to any amount or type
of grant or award except as provided in a grant agreement and authorized by the Committee. 

	 	•	 	 Vacation Time: During your employment with the Company, you will be eligible for the following vacation,
paid time off and holidays, subject, in each case, to the Company’s policies as may be in effect from time to time: 

  

	 	•	 	 You will be eligible to accrue 30 days of vacation time (“Vacation Time”) per year (pro-rated for partial years of service). Vacation Time will be accrued on a monthly basis, beginning the following month of your Start Date. Vacation Time must be scheduled according to the mutual convenience of
you and the Company. 

  

	 	•	 	 Personal Time is available for you to utilize to support your personal needs. 

 

	 	•	 	 11 Company Paid Holidays will be allocated annually (pro-rated for any
partial years of service). 

  

	 	•	 	 Severance Benefits. As Executive Vice President and Chief Financial Officer of the Company, if your
employment is terminated under certain circumstances, you will be eligible to receive the severance benefits available under either the ChampionX Corporation Executive Severance Plan or ChampionX Corporation Senior Executive Change-in-Control Severance Plan, as applicable, subject to and in accordance with the terms and conditions therein as may be amended or in effect from time to time.

  

	 	•	 	 Health and Welfare Benefits. During your employment with the Company, you will be eligible to participate
in the health and welfare benefit plans and other benefit programs made available to similarly situated Company employees from time to time (for example, medical, dental, prescription drugs, vision, flexible spending accounts, 401(k) plan), subject
to and in accordance with the terms and conditions of the applicable plan documents and Company programs as may be in effect from time to time. Notwithstanding the foregoing, the Company may modify or terminate any employee benefit plan or program
at any time without violation of this Offer Letter. 

 Please note that this offer and compensation package described herein is contingent
upon all of the following: (i) verification of work authorization; (ii) your representation that there are no legal prohibitions or restrictive covenant obligations from any prior employer(s) that would prevent you from performing your
duties to the Company; (iii) your agreement to read, conform to and comply with the rules, regulations and policies of the Company and Apergy USA, Inc., as will be provided to you and in effect from time to time; (iv) successful background
screening; (v) successful passing of required substance abuse testing, conducted consistent with the applicable Company policies for such testing; and (vi) your acceptance and execution of the Company’s restrictive covenant agreement
attached hereto as Exhibit A (the “Restrictive Covenant Agreement”). In addition, please note that federal law requires that you provide the Company with documents establishing your identity and right to work in the United States
within three business days following your Start Date. 
 By executing this Offer Letter, you expressly represent that you are under no restrictions with any
current or former employer or other third party, including restrictions with respect to non-competition, non-solicitation, confidentiality, or any other restrictive
covenant, that would prevent you from accepting employment with the Company or from performing any services on the Company’s behalf. In addition, you promise that you will not, directly or indirectly, provide the Company with any confidential,
proprietary or legally protected information belonging to any 

  
 2 

 
current or former employer or other third party and in no circumstances will you, directly or indirectly, use or disclose such information in the course of your employment with the Company. If
you have any questions about the ownership of particular documents or other information, you should discuss such questions with your current or former employer(s) before removing or copying the documents or information. 

The intent of the parties is that the payments and benefits under this Offer Letter comply with or be exempt from Section 409A of the Internal Revenue
Code of 1986, as amended, and the regulations and guidance promulgated thereunder (collectively, “Section 409A”) and, accordingly, to the maximum extent permitted, this Offer Letter will be interpreted to be in
compliance therewith or exempt therefrom. In no event whatsoever will the Company or any of its affiliates be liable for any additional taxes, interest or penalties that may be imposed on you by Section 409A or damages for failing to comply
with Section 409A. 
 The information contained in this Offer Letter and the Restrictive Covenant Agreement is not intended to and does not constitute
a contract of employment, either express or implied. Notwithstanding the terms of this Offer Letter, your employment with the Company will be at-will, and can be terminated at any time by you or the Company
for any reason or no reason, provided that you provide the Company with sixty (60) days’ advance written notice, which the Company may accelerate and give immediate effect to in its sole discretion. Nothing in this Offer Letter or the
Restrictive Covenant Agreement should be construed or implied to guarantee continued employment or otherwise modify the at-will nature of your employment relationship with the Company. 

This Offer Letter, the Restrictive Covenant Agreement and any other documents expressly set forth herein sets forth the entire agreement between you and the
Company and supersedes all prior discussions, negotiations, representations, proposals, agreements and understandings of every kind and nature between you and the Company. This Offer Letter shall be construed, and its enforceability and the
relationship of the parties shall be determined, in all respects under the laws of Texas without regard to principles of conflicts of law. 
 If the terms
herein are acceptable to you, please sign the Acceptance of Offer Letter on the following page and the Restrictive Covenant Agreement (initial each page at the bottom right corner and sign and date where indicated) and return to me by
January 18, 2021, retaining a copy of each for your records. 
 I am extremely pleased to offer you this position and to welcome you to the Company! We
appreciate your consideration of this offer, and I look forward to hearing back from you. If you have any questions, please feel free to contact me. 
  

	
	Sincerely,
	
	/s/ Soma Somasundaram
	
	Soma Somasundaram
	President & CEO
	ChampionX

  
 3 

 Acceptance of Offer Letter 

I accept the terms and conditions as described in this Offer Letter. In consideration of my employment, I agree to read, conform to and comply with the
rules, regulations and policies of Apergy USA, Inc. and the Company as will be provided to me from time to time during my employment. A faxed or PDF signature shall operate the same as an original signature. 

I understand and accept the terms and conditions of the Offer Letter: 
  

									
	Name:	 	 /s/ Kenneth M. Fisher
	  		  	Date	  	 January 19, 2021 

 EXHIBIT A 

AGREEMENT CONCERNING CONFIDENTIAL INFORMATION, TRADE SECRETS, NON- 

COMPETITION, NON-SOLICITATION, INVENTIONS, AND PATENT RIGHTS 

This Agreement Concerning Confidential Information, Trade Secrets, Non-competition,
Non-solicitation, Inventions, and Patent Rights (this “Agreement”) dated to be effective as of February 1, 2021 (the “Effective Date”), is made and entered into by and between Kenneth
M. Fisher (“Employee”) and Apergy USA, Inc. (together with ChampionX Corporation, its subsidiaries and any of their respective successors and assigns, the “Company”). 

In consideration of the mutual covenants and undertakings contained in the Offer Letter that this Agreement is appended, and for such other good and valuable
consideration the receipt and sufficiency of which are acknowledged, the parties hereby agree as follows: 
 1. Non-Disclosure of Confidential Information. Employee recognizes that the Company has made significant investments of time and resources in establishing substantial relationships with its existing and prospective
clients and developing the Company’s reputation and goodwill. Employee further recognizes that the protection of the Company’s proprietary business information, trade secrets, and other Confidential Information (defined below) is of value
to the Company and vital to the Company’s interests and success and worthy of the protection provided by Employee in his/her promises made in this Agreement. In exchange for Employee’s promises made in this Agreement, the Company has
provided and will continue to: (a) provide Employee access to Confidential Information relating to the Company’s business, clients, and prospects, as may be relevant to Employee’s position with the Company and (b) make available
to Employee the benefit of the Company’s client and other business relationships, as well as their support, training, goodwill, and reputation within their industry. Employee acknowledges that all Confidential Information is confidential,
proprietary, not known outside of the Company’s business, valuable, special and/or a unique asset of the Company which belongs to the Company. Employee further acknowledges that if this Confidential Information were disclosed to third parties
or used by third parties and/or Employee, such disclosure or use would seriously and irreparably damage the Company and cause the loss of certain competitive advantages. In exchange for the Company’s promises made in this Agreement, Employee
covenants and agrees that Employee will not, during employment with the Company and at any time after termination of Employee’s employment with the Company, for any reason or no reason, directly or indirectly, in any form or manner, divulge,
disclose, or communicate to any person, entity, firm, corporation or any other third party, any Confidential Information, except as required in the performance of Employee’s duties for the Company or as required by law. In exchange for the
Company’s promise to provide Employee with Confidential Information, Employee covenants and agrees that he/she will only access, disclose, transmit, use, store, and/or dispose of Confidential Information for appropriate business purposes for
the benefit of the Company, and never for the benefit of Employee or any other person or entity or any other inappropriate purpose. 
 For purposes of this
Agreement, the term “Confidential Information” shall mean any information relating to the business or affairs of the Company and its parents, subsidiaries, affiliates, successors and assigns, including, without limitation, (1) any
technical or non-technical data, financial data, techniques, drawings, designs, processes, procedures, improvements, product information, new products, products in development, inventions, models, manuals, know-how, financial data, lists of actual or potential customers or suppliers of the Company, or any of the Company’s parents, subsidiaries, affiliates, successors and assigns; (2) any information
regarding the marketing, sales or dealer network, business development or merger, acquisition, 

 
or divestiture plans for the Company, or any of the Company’s parents, subsidiaries, affiliates, successors and assigns; and (3) personal identifying information received through
Employee’s job duties about other employees or customers, such as employees’ and customers’ social security numbers, credit card information, bank account information, PIN numbers, or personal health information. If Employee receives
personal identifying information as part of his/her job duties, Employee is responsible for protecting such Confidential Information from disclosure, inappropriate use, or theft. Confidential Information does not include information related to an
employee’s wages, benefits, or working conditions. Employee agrees that nothing in this paragraph shall be deemed a waiver or limitation of the Company’s ability to use common law or statutory means, including any applicable Trade Secrets
Act, to protect information that is a trade secret under applicable law. 
 Notwithstanding anything to the contrary contained herein, no provision of this
Agreement will be interpreted so as to impede Employee (or any other individual) from (a) making any disclosure of relevant and necessary information or documents in any action, investigation or proceeding relating to this Agreement, or as
required by law or legal process, including with respect to possible violations of law, (b) participating, cooperating or testifying in any action, investigation or proceeding with, or providing information to, any governmental agency,
legislative body or any self-regulatory organization, including, but not limited to, the Department of Justice, the Securities and Exchange Commission, the Congress and any agency Inspector General, (c) accepting any U.S. Securities and
Exchange Commission awards or (d) making other disclosures under the whistleblower provisions of federal law or regulation. In addition, nothing in this Agreement or any other agreement or Company policy prohibits or restricts Employee from
initiating communications with, or responding to any inquiry from, any administrative, governmental, regulatory or supervisory authority regarding any good faith concerns about possible violations of law or regulation. Employee does not need the
prior authorization of the Company to make any such reports or disclosures, and Employee will not be not required to notify the Company that such reports or disclosures have been made. 

As provided by the Defend Trade Secrets Act, 28 U.S.C. §1833(b) (the “DTSA”) Employee is advised that it is not a violation of this Agreement
and Employee will not be held criminally or civilly liable under any Federal or State trade secret law (including under the DTSA) if Employee discloses trade secret information (1) in confidence to a Federal, State, or local government
official, either directly or indirectly, or attorney solely for the purpose of reporting or investigating suspected violation of law; or (2) in a complaint or other document filed under seal in a lawsuit or other proceeding. Nothing in this
Agreement is intended to conflict with the DTSA or create liability for disclosures of trade secrets that are expressly allowed by the DTSA. In the event Employee files a lawsuit for retaliation by the Company for reporting a suspected violation of
law, Employee may disclose the trade secret to Employee’s attorney and use the trade secret information in the court proceeding, provided Employee files any document containing the trade secret under seal, and does not disclose the trade
secret, except pursuant to court order. The parties also have the right to disclose trade secrets in a document filed in a lawsuit or other proceeding, but only if the filing is made under seal and protected from public disclosure. 

2. Delivery Upon Termination. Upon the Company’s request, and in any event without request upon termination of Employee’s
employment with the Company for any reason or no reason, Employee will promptly deliver to the Company any and all Confidential Information, including any and all copies, derivatives and extracts thereof, whether in hard copy or electronic format,
and any Company Property in his or her possession or control. “Company Property” may include but is not limited to: manuals of any sort and kind, cost information, keys, access cards, credit cards, phone cards, computers, cell phones,
smart phones, computer programs, computer 

  
 6 

 
discs, computer lists, databases, product lists, price lists, records of all sorts, data samples, models, programs, handbooks, lists of customers, lists of suppliers, financial data, contracts,
and any other writings or compilation of information relating in any manner to the operation of the Company or any of its parents, affiliates, subsidiaries, and related companies, including all copies (photocopies, handwritten copies, electronic
copies or otherwise) of such documents or writings. Employee’s compliance with this Paragraph 2 may require the removal and/or deletion of data or information defined as Company Property above from any personal computer, smart phone,
and/or cell phone. At the Company’s request, Employee agrees to provide the Company with access to Employee’s personal computer, smart phone, and/or cell phone to identify and remove any Confidential Information or Company Property
contained thereon. Employee will provide such access and any necessary passwords or access codes no later than five (5) business days after request by the Company. Upon Employee’s separation from the Company, Employee shall provide the
Company with any passwords or access codes needed to access any Company computer, smart phone, and/or cell phone that was in Employee’s possession or control during employment. 

3. Non-Competition. The restrictive covenants contained in this Paragraph 3 are supported by
consideration to Employee from the Company as specified in this Agreement, including, but not limited to, the consideration described in Paragraph 1 hereof and in the Offer Letter. In exchange for the consideration specified herein and as a material
incentive for the Company to enter into this Agreement and the Offer Letter, to protect the Company’s material business interests and further align Employee’s interests with the Company’s long term business interests, and to enforce
Employee’s obligations under Paragraph 1 hereof, Employee hereby agrees that, during his/her employment with the Company and for a period of one (1) year after termination of Employee’s employment with the Company regardless of the
reason for termination (the “Post-Employment Restrictive Period”), Employee shall not, directly or indirectly, as an individual, partner, stockholder, officer, principal, agent, independent contractor, employee, trustee, lender of money or
in any other relation or capacity whatsoever, on his/her own behalf or in combination with others (other than on behalf of the Company or its parents, subsidiaries, affiliates, successors, and assigns): (1) engage in any activity or perform any
services that contribute to any research, discovery, development, manufacture, importation, marketing, promotion, or sale of one or more Competing Products, to the extent Employee engaged in the same or similar activities and/or performed the same
or similar services for or on behalf of the Company; or (2) engage in any activity during the performance of which Confidential Information obtained is likely to be used or disclosed, notwithstanding Employee’s undertaking to the contrary.

 Notwithstanding the foregoing, the restrictions in this Paragraph shall only restrict Employee’s activities during the Post-Employment Restrictive
Period within the Territory. “Territory” means the U.S. “Competing Products” means any product, process, or service (in each case, whether in existence or under development) that has the same or similar purpose or use as, or
improves upon or competes with, in each case, a product, process, or service researched, discovered, developed, manufactured, imported, marketed, sold, or offered for sale by the Company, or one or more of the Company’s parents, subsidiaries,
affiliates, successors, and assigns, during Employee’s employment with the Company if Employee worked on and/or received Confidential Information about such product, process, or service during his/her employment with The Company (which
products, processes and services include, but are not limited to, the provision of equipment, services and technologies used in the drilling and completion of wells for the production of oil and natural gas, including, without limitation, artificial
lift equipment, chemical solutions, and digital technologies). Nothing in this Paragraph prevents Employee from owning not more than two percent (2%) of the issued and outstanding securities of a corporation whose securities are publicly traded and
which is subject to the reporting requirements of the Securities Exchange Act of 1934, provided Employee is not involved in the management of such corporation. 

  
 7 

 4. Non-Solicitation of Customers. The
restrictive covenants contained in this Paragraph are supported by consideration to Employee from the Company as specified in this Agreement, including, but not limited to, the consideration provided in Paragraph 1 hereof and the Offer Letter. In
exchange for the consideration specified herein and as a material incentive for the Company to enter into this Agreement, and to enforce Employee’s obligations under Paragraph 1 hereof and protect the Company’s relationships and goodwill
with its customers, Employee hereby agrees that, during his/her employment with the Company and during the Post-Employment Restrictive Period, Employee shall not, directly or indirectly, as an individual, partner, stockholder, director, officer,
principal, agent, independent contractor, employee, trustee, lender of money or in any other relation or capacity whatsoever, on his/her own behalf or in combination with others (other than on behalf of the Company or its parents, subsidiaries,
affiliates, successors, and assigns): (1) promote or market any Competing Products to any Company customer; or (2) solicit any Company customers for the purpose of selling any Competing Products. The foregoing notwithstanding, this Paragraph
shall only restrict Employee’s activities during the Post-Employment Restrictive Period with respect to (i) customers with whom Employee had direct contact or business dealings or indirect contact or business dealings (through the
supervision of other employees) during Employee’s employment with the Company, or (ii) customers about whom Employee learned Confidential Information as a result of his/her employment with the Company. Nothing in this Paragraph prevents
Employee from owning not more than two percent (2%) of the issued and outstanding securities of a corporation whose securities are publicly traded and which is subject to the reporting requirements of the Securities Exchange Act of 1934, provided
Employee is not involved in the management of such corporation. 
 5. Non-Solicitation of
Employees. Employee agrees that during his/her employment with the Company, and for a period of twenty-four (24) consecutive months after termination of such employment for any reason or no reason, he/she shall not, except in the course of
his/her duties on behalf of the Company, directly or indirectly induce or attempt to induce or otherwise counsel, advise, solicit, or encourage any employee of the Company, or any of the Company’s parents, subsidiaries, affiliates, successors
and assigns, to leave the employ of the Company, or any of the Company’s parents, subsidiaries, affiliates, successors and assigns, or to accept employment or work with any other person or entity. This Paragraph shall only restrict
Employee’s activities during the post-termination restriction period with respect to employees in the division or department in which Employee worked during Employee’s employment with the Company, or employees with whom Employee had direct
or indirect contact during Employee’s employment with the Company. 
 6. Enforceability; Tolling. Employee recognizes and agrees
that the territorial, time and scope limitations set forth in this Agreement are reasonable and properly required for the protection of the Company’s legitimate business interests and that such restrictive covenants, individually or in the
aggregate, will not prevent Employee from obtaining other suitable employment during the period in which Employee is bound by the restraints. In the event that any territorial, time, or scope limitation set forth in set forth in this Agreement is
deemed to be unreasonable or unenforceable by a court of competent jurisdiction, Employee and the Company agree that the court shall be allowed to revise the restrictions to the territorial, time, or scope limitations to such an area, period, or
scope as said court shall deem reasonable under the circumstances. If such reformation partial enforcement is not possible, the provision shall be deemed severed, and the remaining provisions of this Agreement shall remain in full force and effect.
It is also agreed that each of the Company’s affiliates will have the right to enforce all of 

  
 8 

 
Employee’s obligations to that affiliate under this Agreement. In the event of any violation of the provisions of this Agreement, Employee agrees that the post-termination restrictions
contained in this Agreement will be extended by a period of time equal to the period of such violation, it being the intention of the parties hereto that the running of any post-termination restriction period will be tolled during any period of such
violation. 
 7. Confidential Information of Others. Employee understands that the Company has hired Employee because of
Employee’s general skills and abilities and not because of Employee’s possession, if any, of any former employer’s, customer’s, or other third party’s confidential or proprietary information. Employee hereby certifies that
Employee has returned all property, data, and documents, whether in electronic, paper, or other form, of any former employer, customer, or other third party. Employee agrees and warrants (a) Employee will not use or disclose, directly or
indirectly, in furtherance of Employee’s employment with the Company, any confidential or proprietary information, whether in electronic, paper, or other form, that Employee obtained through Employee’s employment with any previous
employer(s); (b) Employee is fully capable of performing his duties for The Company without the use or disclosure of any confidential or proprietary information, whether in electronic, paper, or other form, that Employee obtained through
Employee’s employment with any previous employer(s); and (c) Employee will comply with and abide by any confidentiality obligations that Employee has with previous employer(s) at the time hired by the Company. 

8. Ownership, Disclosure and Assignment of Inventions. Each and every Invention, whether made, conceived, or reduced to practice, solely
by Employee or jointly with others, during the term of Employee’s employment, and each and every U.S. and foreign Letters Patent and each and every continuation,
continuation-in-part, divisional, reissue, reexamination, extension, and foreign counterpart thereof, as well as any other patent or patent application that claims
priority directly or indirectly from the foregoing and any patent application from which any patent listed in the foregoing issued, as well as trademarks and copyrights in the U.S. or in any foreign country, covering any such Invention (together,
“Invention IP”), shall be the exclusive property of the Company. Employee further agrees that during the period of Employee’s employment, Employee will promptly disclose to the Company, each and every such Invention in such reasonable
detail as The Company may require, and Employee agrees to assign and does hereby assign to the Company all Employee’s rights, title, and interest in and to each and every such Invention and Invention IP. As used in this Agreement, the term
“Invention” shall mean, including without limitation, any idea, discovery, design or improvement, whether or not patentable, with respect to any product, process, formula or apparatus produced or used in, or arising out of, or in any way
related to, the business of the Company or any work in which Employee is engaged, or may be engaged in, or to which Employee may be exposed as an employee of the Company. 

Employee understands that this Paragraph shall not apply to any Invention which is not subject to assignment under applicable statute, including any Invention
that Employee developed entirely on Employee’s own time without using the Company’s equipment, supplies, facilities or trade secret information, except for those Inventions that either: (1) relate at the time of conception or
reduction to practice of the invention to the Company’s business, or actual or demonstrably anticipated research or development of the Company; or (2) result from any work performed by Employee for the Company. 

  
 9 

 9. Cooperation with Respect to Inventions, Patents, Trademarks, and Copyrights.
Employee will, upon request of the Company, either during or at any time after termination of Employee’s employment by the Company, promptly and without further consideration (but without expense to Employee), execute and deliver all papers,
including but not limited to applications and assignments for patents or copyrights, and take any and all other actions, including participating in any proceedings which the Company may consider necessary to secure to or maintain in it and its
successors and assigns any and all rights and titles in and to any Inventions and Inventions IP. 
 10. Injunctive Relief. In the
event that Employee breaches any of the terms of this Agreement, Employee stipulates and agrees that said breach will result in immediate and irreparable harm to the business and goodwill of the Company, that money damages and remedies at law for
such breach would be inadequate, and that the Company shall therefore be entitled, without posting any bond or other security, to receive from any court of competent jurisdiction an injunction to restrain any violation or threatened violation of
this Agreement, to obtain specific performance of this Agreement, and/or any other equitable remedy that may then be available, without the necessity of showing actual monetary damages. Such remedies shall not be deemed the exclusive remedies for a
breach of this Agreement, but shall be in addition to all remedies available at law or in equity to the Company, including, without limitation, the recovery of damages from Employee and Employee’s agents involved in such breach. Employee shall,
in addition, pay to the Company the Company’s costs and expenses in enforcing the terms of this Agreement (including court costs and reasonable attorneys’ fees), to the fullest extent permitted by law. 

11. Continuing Obligation. The obligations, duties and liabilities of Employee pursuant to this Agreement are continuing and shall
remain in full force and effect as provided herein despite any termination of Employee’s employment with the Company for any reason or no reason whatsoever. 

12. Employee-At-Will. This Agreement does not constitute
a guarantee of employment for any time period and Employee acknowledges and agrees that Employee is employed by the Company at-will, meaning either the Company or Employee may terminate that employment
relationship at any time, with or without notice, and for any reason or no reason at all, provided that you provide the Company with sixty (60) days’ advance written notice which the Company may accelerate and give immediate effect to in
its sole discretion. The “at-will” condition of Employee’s employment with the Company may only be changed by a writing signed by Employee and an authorized senior executive of the Company. No
other supervisor, manager, or employee of the Company has the authority to change the “at-will” condition of Employee’s employment, nor may any such change be effected in a manner other than in
a writing as described in the preceding sentence. 
 13. Severability and Enforceability. If a phrase, clause or provision of this
Agreement is declared invalid or unenforceable by a court of competent jurisdiction, such phrase, clause or provision shall be deemed severed from this Agreement, but will not affect any other provisions of this Agreement, which shall otherwise
remain in full force and effect. If any restriction or limitation in the Agreement is deemed to be unreasonable, unenforceable, onerous, or unduly restrictive by a court of competent jurisdiction, it shall not be stricken in its entirety and held
totally void and unenforceable, but shall be amended, modified and/or revised to the extent required to render such restriction or limitation valid and enforceable. 

14. Successor and Assigns. Employee’s rights and obligations under this Agreement shall inure to the benefit of and shall be
binding upon the successors and assigns of the Company. The Company may assign, and Employee expressly consents to the assignment of, this Agreement to any person, including, without limitation, any successor, parent, subsidiary, or affiliated
entity of the Company, including in connection with any sale or merger (whether a sale or merger of stock or assets or otherwise) of the Company or the business of the Company. Employee shall not be entitled to assign any of Employee’s rights
or obligations under this Agreement. 

  
 10 

 15. Governing Law and Venue. This Agreement shall be construed, and its
enforceability and the relationship of the parties shall be determined, in all respects under the laws of Texas without regard to principals of conflicts of law. Any claim or dispute arising under this Agreement shall be adjudicated by any state
court of competent jurisdiction in Harris County, Texas or the United States District Court for the Houston Area, Texas. 
 16.
Headings. The headings of this Agreement are inserted for convenience only and are not to be considered in construction of the provisions hereof. This Agreement may be executed simultaneously in multiple counterparts each of the same force
and effect. A faxed or PDF signature shall operate the same as an original signature. 
 17. Notification to Subsequent Employers: Waiver
of Claims. Upon termination of employment with the Company, the Company may notify and Employee shall notify anyone employing Employee or considering employing Employee of the existence and contents of this Agreement. Employee and the Company
expressly waive any claim against each other based upon the disclosure to any person of the existence or provisions of or conduct under this Agreement. 

18. Waiver. The waiver by the Company of any breach of any term or condition of this Agreement shall not be deemed to constitute the
waiver of any other breach of the same or any other term or condition hereof. 
 19. Entire Agreement. This Agreement contains the
entire understanding between the parties hereto with respect to the subject matter hereof, and supersedes all prior and contemporaneous agreements and understandings, inducements or conditions, express or implied, oral or written; provided, however,
that this Agreement supplements and does not limit or restrict or alter in any way any confidentiality, non-competition, or non-solicitation obligations that Employee
may have undertaken in other agreements with the Company or which apply to Employee under any applicable law. This Agreement may not be changed, modified, released, discharged, abandoned or otherwise terminated, in whole, or in part, except by an
instrument in writing signed by Employee and an officer of the Company. By signing this Agreement, Employee acknowledges that Employee is not relying on any oral or written statements or representations made by any employee or agent of the Company
that are not expressly set forth herein. 
 20. Employee Acknowledgement. Employee acknowledges that he/she has read the entire
Agreement, and fully understands the limitations which it imposes upon him/her. Employee acknowledges receiving a duplicate copy of this Agreement. 

Signed this 19th day of January, 2021. 

 

	
	 /s/ Kenneth M. Fisher

	
	Signature of Employee

  
 11 

 Accepted this 19th day of January, 2021. 

 

			
	Apergy USA, Inc.

 
			
		
	By:	 	 /s/ Jordan Zweig

 
			
	Title:	 	 Senior Vice President and Chief Human Resources
Officer

 
			
	
	ChampionX Corporation

 
			
		
	By:	 	 /s/ Jordan Zweig

 
			
	Title:	 	 Senior Vice President and Chief Human Resources Officer

  
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