Document:

Exhibit

FIFTH AMENDMENT TO AMENDED AND RESTATED MASTER REPURCHASE AGREEMENT
THIS FIFTH AMENDMENT TO AMENDED AND RESTATED MASTER REPURCHASE AGREEMENT (the “Amendment”), dated as of August 14, 2017, is made and entered into among PULTE MORTGAGE LLC (the “Seller”), COMERICA BANK (“Comerica”), as agent (in such capacity, the “Agent”) and a Buyer, and the other financial institutions from time to time signatories thereto (the “Buyers”).
RECITALS:
A.    The Agent, the Seller and the Buyers are parties to that certain Amended and Restated Master Repurchase Agreement dated as of September 4, 2015 (as amended or otherwise modified from time to time, the “Repurchase Agreement”).
B.    The Agent, the Seller and the Buyers now desire to further amend certain provisions of the Repurchase Agreement as set forth herein.
AGREEMENT:
In consideration of the premises herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, all parties hereto agree as follows:
1.Capitalized terms used and not otherwise defined in this Amendment have the meanings specified in the Repurchase Agreement.
2.The Seller has requested that certain changes to the Maximum Aggregate Commitment from time to time under the Repurchase Agreement be made.  In connection therewith, Schedule BC of the Repurchase Agreement is amended and restated by Schedule BC attached hereto.

3.The definition of “Termination Date” in Section 1.2 of the Repurchase Agreement is amended and restated in its entirety as follows:  
“‘Termination Date’ means (a) the earlier to occur of August 13, 2018 or (b) the date when the Buyer’s Commitments are terminated pursuant to this Agreement, by order of any Governmental Authority or by operation of law.”
4.Section 2.6(b) of the Repurchase Agreement is amended by replacing the reference to “$350,000,000” with a reference to “$525,000,000.” 

5.Section 16.18(a) of the Repurchase Agreement is amended and restated to read in its entirety as follows:
“(a)    Adjusted Tangible Net Worth.  Maintain at all times, Seller’s Adjusted Tangible Net Worth in an amount no less than $70,000,000.”
6.Section 16.18(c) of the Repurchase Agreement is amended and restated to read in its entirety as follows:
“(c)    Liquidity.  Maintain at all times, Liquidity of not less than $40,000,000.”

7.Reassertion of Representations and Warranties, No Default.  The Seller hereby represents and warrants that on and as of the date hereof and after giving effect to this Amendment (a) all of the representations and warranties contained in the Repurchase Agreement are true, correct and complete in all material respects as of the date hereof as though made on and as of such date, except for changes permitted by the terms of the Repurchase Agreement, and (b) no Default or Event of Default has occurred and is continuing. 

8.Authority, No Conflict, No Consent Required.  The Seller represents and warrants that the Seller has the limited liability company power and authority to enter into this Amendment and has duly authorized as appropriate the execution and delivery of this Amendment by proper limited liability company action and none of the agreements contained herein contravene or constitute a default under any material agreement, instrument or indenture to which the Seller is a party or a signatory or any provision of the Seller’s Articles of Organization, Operating Agreement or any requirement of law, or result in the imposition of any Lien on any of its property under any agreement binding on or applicable to the Seller or any of its property except, if any, in favor of the Buyers.  The Seller represents and warrants that no consent, approval or authorization of or registration or declaration with any Person, including but not limited to any governmental authority, is required in connection with the execution and delivery by the Seller of this Amendment or the performance of obligations of the Seller herein described, except for those which the Seller has obtained or provided and as to which the Seller has delivered certified copies of documents evidencing each such action to the Buyers.

9.No Adverse Claim. The Seller hereby warrants, acknowledges and agrees that no events have taken place and no circumstances exist at the date hereof which would give the Seller a basis to assert a defense, offset or counterclaim to any claim of the Agent or the Buyers with respect to the Seller’s obligations under the Repurchase Agreement as amended by this Amendment.

10.Conditions Precedent.  This Amendment shall become effective (the “Amendment Effective Date”) according to the terms and as of the date hereof, upon satisfaction of the following conditions:
		
	(a)
	Receipt by the Agent of this Amendment duly executed by the Seller, the Agent and the Buyers.

		
	(b)
	Agent shall have received fully executed Affidavits Regarding Out-Of-State Execution by the Borrower, Agent and Branch Banking and Trust Company.

11.Ratifications.  The terms and provisions set forth in this Amendment shall modify and supersede all inconsistent terms and provisions set forth in the Repurchase Agreement and the other Repurchase Documents and except as expressly modified and superseded by this Amendment, the terms and provisions of the Repurchase Agreement and each other Repurchase Document are ratified and confirmed and shall continue in full force and effect.

12.Survival.  The representations and warranties made by the Seller in this Amendment shall survive the execution and delivery of this Amendment.

13.Reference to Repurchase Agreement.  Each of the Repurchase Documents, including the Repurchase Agreement and any and all other agreements, documents, or instruments now or hereafter executed and delivered pursuant to the terms hereof or pursuant to the terms of the Repurchase Agreement as amended hereby, are hereby amended so that any reference in such Repurchase Documents to the Repurchase Agreement shall mean a reference to the Repurchase Agreement as amended and modified hereby.

14.Applicable Law.  This Amendment shall be governed by and construed in accordance with the laws of the State of Michigan as applicable to the Repurchase Agreement.

15.Successors and Assigns.  This Amendment is binding upon and shall inure to the benefit of the Agent, the Buyers, the Seller and their respective successors and assigns, except that the Seller may not assign or transfer any of its rights or obligations hereunder without the prior written consent of each of the Buyers.

16.Counterparts.  This Amendment may be executed in one or more counterparts, each of which when so executed shall be deemed to be an original, but all of which when taken together shall constitute one and the same instrument.

17.Headings.  The headings, captions, and arrangements used in this Amendment are for convenience only and shall not affect the interpretation of this Amendment.

18.ENTIRE AGREEMENT.  THIS AMENDMENT AND THE OTHER REPURCHASE DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES HERETO AND THERETO, AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES HERETO.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.

[Remainder of This Page Intentionally Left Blank]

In witness whereof the parties have caused this Amendment to be executed as of the date first written above.
PULTE MORTGAGE LLC, 
as Seller and Servicer

By:  \s\ Scott E. Harris    
Name:  Scott E. Harris    
Title:  SVP/CFO    

COMERICA BANK, as Agent, Lead Arranger and a Buyer

By:  \s\ Jennifer L. Norris            
Name:  Jennifer L. Norris 
Title:  Senior Vice President 

BMO HARRIS BANK N.A.

By:  \s\ Michael Lenardi            
Name:  Michael Lenardi            
Title:  Vice President                

BRANCH BANKING AND TRUST COMPANY

By:  \s\ Samuel W. Bryan            
Name:  Samuel W. Bryan            
Title:  SVP                    

SCHEDULE BC
TO Master Repurchase Agreement
The Buyers’ Committed Sums
(in dollars)
From August 14, 2017 through and including December 25, 2017
	
		
	Buyer
	Committed Sum

	Comerica Bank
	$100,002,000

	BMO Harris Bank N.A.
	$99,999,000

	Branch Banking and Trust Company
	$99,999,000

	Maximum Aggregate Commitment
	$300,000,000

From December 26, 2017 through and including January 11, 2018
	
		
	Buyer
	Committed Sum

	Comerica Bank
	$158,336,500

	BMO Harris Bank N.A.
	$158,331,750

	Branch Banking and Trust Company
	$158,331,750

	Maximum Aggregate Commitment
	$475,000,000

From January 12, 2018 through and including April 17, 2018
	
		
	Buyer
	Committed Sum

	Comerica Bank
	$83,335,000

	BMO Harris Bank N.A.
	$83,332,500

	Branch Banking and Trust Company
	$83,332,500

	Maximum Aggregate Commitment
	$250,000,000

April 18, 2018 through and including June 25, 2018
	
		
	Buyer
	Committed Sum

	Comerica Bank
	$116,669,000

	BMO Harris Bank N.A.
	$116,665,500

	Branch Banking and Trust Company
	$116,665,500

	Maximum Aggregate Commitment
	$350,000,000

June 26, 2018 through maturity
	
		
	Buyer
	Committed Sum

	Comerica Bank
	$133,336,000

	BMO Harris Bank N.A.
	$133,332,000

	Branch Banking and Trust Company
	$133,332,000

	Maximum Aggregate Commitment
	$400,000,000EX-10.1

 Exhibit 10.1 

CHAPARRAL ENERGY, INC. 

MANAGEMENT INCENTIVE PLAN 

ARTICLE I. ESTABLISHMENT AND PURPOSE 

1.1 Establishment. Chaparral Energy, Inc., a Delaware corporation (“Chaparral”), hereby establishes the Chaparral
Energy, Inc. Management Incentive Plan for the benefit of certain officers, directors, and employees of Chaparral and its Affiliates, as set forth in this Plan. 

1.2 Purpose. The purposes of this Plan are to attract and retain highly qualified individuals to perform services for Chaparral and its
Affiliates, to further align the interests of those individuals with those of the stockholders of Chaparral, and to more closely link compensation with the performance of Chaparral and its Affiliates. Chaparral is committed to creating long-term
stockholder value. Chaparral’s compensation philosophy is based on the belief that Chaparral can best create stockholder value if employees, officers, and directors of Chaparral and its Affiliates act and are rewarded as business owners.
Chaparral believes that an equity stake through equity compensation programs effectively aligns service provider and stockholder interests by motivating and rewarding performance that will enhance stockholder value. 

1.3 Effectiveness and Term. This Plan shall become effective on the date of its adoption by the Board (the “Effective
Date”). Unless terminated earlier by the Board pursuant to Section 14.1, this Plan shall terminate on the tenth anniversary of the Effective Date. 

ARTICLE II. DEFINITIONS 

2.1 “Affiliate” means (a) with respect to Incentive Stock Options, a “parent corporation” or
“subsidiary corporation” (as those terms are defined in Section 424 of the Code) of Chaparral, (b) with respect to Nonqualified Stock Options and SARs, an organization that is aggregated and treated as a single employer with
Chaparral under Section 414(b) of the Code (controlled group of corporations) or Section 414(c) of the Code (group of trades or businesses under common control), as applicable, but using an “at least 50 percent” rather than an
“at least 80 percent” control level and (c) with respect to other Awards, any corporation, partnership, limited liability company, association, trust or other organization which, directly or indirectly, controls, is controlled by, or
is under common control with, Chaparral. For purposes of the preceding sentence, “control” (including, with correlative meanings, the terms “controlled by” and “under common control with”), as used with respect to any
entity or organization, shall mean the possession, directly or indirectly, of the power (i) to vote more than 50% of the securities having ordinary voting power for the election of directors of the controlled entity or organization, or
(ii) to direct or cause the direction of the management and policies of the controlled entity or organization, whether through the ownership of voting securities or by contract or otherwise. 

2.2 “Award” means an award granted to a Participant in the form of Options, SARs, Restricted Stock, Restricted Stock
Units, Performance Awards, Stock Awards or Other Incentive Awards, whether granted singly or in combination. 

 2.3 “Award Agreement” means a written agreement between Chaparral and a
Participant that sets forth the terms, conditions, restrictions and limitations applicable to an Award. 
 2.4
“Board” means the Board of Directors of Chaparral. 
 2.5 “Cash Dividend Right” means a
contingent right, granted in tandem with a specific Restricted Stock Unit Award, to receive an amount in cash equal to the cash distributions made by Chaparral with respect to a share of Common Stock during the period such Award is outstanding. 

2.6 “Cause” means, unless otherwise defined in an Employee Agreement entered into by the Participant, any of the
following: (a) a Participant’s conviction of, or plea of nolo contendere to, any felony or to any crime or offense causing substantial harm to the Company or involving acts of theft, fraud, embezzlement, moral turpitude or similar conduct;
(b) a Participant’s repeated intoxication by alcohol or drugs during the performance of his duties in a manner that materially and adversely affects the Participant’s performance of such duties; (c) malfeasance in the conduct of
the Participant’s duties, including, but not limited to (i) willful and intentional misuse or diversion of funds or assets of the Company, (ii) embezzlement or (iii) fraudulent or willful and material misrepresentations or
concealments on any written reports submitted to the Company; (d) a Participant’s material violation of any provision of any employment, nonsolicitation, noncompetition or other agreement with, or policy of, the Company; or (e) a
Participant’s material failure to perform the duties of the Participant’s employment or material failure to follow or comply with the reasonable and lawful written directives of the Board or senior officers of Chaparral, in any case under
clause (d) or (e) only after the Participant shall have been informed in writing of such material failure and given a period of not more than 30 days to remedy same. 

2.7 “Change in Control” means the occurrence of a “change in the ownership” of Chaparral, as determined in
accordance with this definition. For an event to constitute a Change in Control that is a “change in the ownership” of Chaparral with respect to a Participant, Chaparral must be (a) the entity for whom the Participant is providing
services at the time of the Change in Control; (b) the entity that is liable for payment in respect of an Award but only if either the payment is attributable to the performance of service by the Participant for the entity or there is a bona
fide business purpose for the entity to be liable for the payment and, in either case, no significant purpose of making the entity liable for the payment is the avoidance of Federal income tax; or (c) an entity that is a majority equityholder,
meaning an equityholder owning more than 50% of the total fair market value and total voting power, of an entity identified in (a) or (b) or any entity in a chain of entities in which each entity is a majority equityholder of another
entity in the chain, ending in an entity identified in (a) or (b). A “change in the ownership” of Chaparral will occur on the date on which any one person, or more than one person acting as a group, acquires ownership of stock of
Chaparral that, together with stock held by such person or group, constitutes more than 50% of the total fair market value or total voting power of the stock of Chaparral, as determined in accordance with Treasury Regulation §
1.409A-3(i)(5)(v). If a person or group is considered either to own more than 50% of the total fair market value or total voting power of the stock of Chaparral, or to have effective control of Chaparral within the meaning of subparagraph
(ii) of this definition, and such person or group acquires additional stock of Chaparral, the acquisition of additional stock by such person or group shall not be considered to cause a “change in the ownership” of Chaparral. 

  
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 2.8 “Chaparral” means Chaparral Energy, Inc., a Delaware corporation, or
any successor thereto. 
 2.9 “Code” means the Internal Revenue Code of 1986, as amended from time to time, including
regulations thereunder and successor provisions and regulations. 
 2.10 “Committee” means the Compensation Committee
of the Board or such other committee of the Board as may be designated by the Board to administer the Plan, which committee shall consist of two or more members of the Board. To the extent that no Committee exists that has the authority to
administer this Plan, the functions of the Committee shall be exercised by the Board. If possible based on the composition of the Board, during such time as the Common Stock is registered under Section 12 of the Exchange Act, each member of the
Committee shall be an Outside Director; provided, however, that with respect to the application of the Plan to Awards made to Outside Directors, the “Committee” shall be the Board. If for any reason the appointed Committee does not meet
the requirements of Rule 16b-3 or Section 162(m) of the Code (to the extent applicable), such noncompliance with such requirements shall not affect the validity of Awards, grants, interpretations or other actions of the Committee. 

2.11 “Common Stock” means the Class A common stock of Chaparral, par value $0.01 per share, or any stock or other
securities hereafter issued or issuable in substitution or exchange for the Class A common stock. 
 2.12
“Company” means Chaparral or any Affiliate. 
 2.13 “Disability” means (a) the Participant
is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months or
(b) if the Company has an accident or health plan covering its employees, the Participant is, by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a
continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than three months under an accident or health plan covering employees of the Company; provided, however, that with respect to Options and
SARs that are not subject to Section 409A, “Disability” shall mean disabled within the meaning of Code Section 22(e)(3). 

2.14 “Dividend Unit Right” means a contingent right, granted in tandem with a specific Restricted Stock Unit Award, to
have an additional number of Restricted Stock Units credited to a Participant in respect of the Award equal to the number of shares of Common Stock that could be purchased at Fair Market Value with the amount of each cash distribution made by
Chaparral with respect to a share of Common Stock during the period such Award is outstanding. 
 2.15 “Effective
Date” means the date this Plan becomes effective as provided in Section 1.3. 

  
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 2.16 “Employee” means an employee of the Company; provided, however, that
the term “Employee” does not include an Outside Director or an individual performing services for the Company who is treated for federal tax purposes as an independent contractor at the time of performance of services. 

2.17 “Employee Agreement” means any agreement between the Company and an Employee containing one or more of the
following agreements or covenants by the Employee: (i) an employment agreement, (ii) an agreement by the Employee to keep confidential certain information, (iii) an agreement or covenant to refrain from competing with the Company,
(iv) an agreement or covenant to refrain from soliciting employees, contractors, customers, vendors or suppliers of the Company, (v) an agreement to disclose and assign to the Company certain intellectual property, including without
limitation, ideas, inventions, discoveries, processes, designs, methods, substances, articles, computer programs, and improvements, or (vi) an agreement under which the Company agrees to indemnify an Employee for an alleged action or inaction
by the Employee during the performance of his or her duties to the Company. 
 2.18 “Exchange Act” means the
Securities Exchange Act of 1934, as amended. 
 2.19 “Fair Market Value” means (a) if the Common Stock is listed
on any established stock exchange or a national market system, including without limitation OTC Markets Group, Nasdaq Global Select Market, Nasdaq Global Market, Nasdaq Capital Market, NYSE MKT LLC and the New York Stock Exchange, the closing sales
price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or system for the date of the determination (or if there was no quoted price for such date, then for the last preceding business day on which there was a
quoted price), as reported in The Wall Street Journal or such other source as the Committee deems reliable; (b) if the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, the mean
between the high bid and low asked prices for the Common Stock for the date of the determination, as reported in The Wall Street Journal or such other source as the Committee deems reliable; or (c) if the Common Stock is not reported or
quoted by any such organization, (i) with respect to Incentive Stock Options, the fair market value of the Common Stock as determined in good faith by the Committee within the meaning of Section 422 of the Code or (ii) with respect to
other Awards, the fair market value of the Common Stock as determined in good faith by the Committee using a “reasonable application of a reasonable valuation method” within the meaning of Treasury Regulation § 1.409A-1(b)(5)(iv)(B).

 2.20 “Grant Date” means the date an Award is determined to be effective by the Committee upon the grant of such
Award. 
 2.21 “Incentive Stock Option” means an Option that is intended to meet the requirements of
Section 422(b) of the Code. 
 2.22 “Nonqualified Stock Option” means an Option that is not an Incentive Stock
Option. 

  
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 2.23 “Option” means an option to purchase shares of Common Stock granted
to a Participant pursuant to Article VII. An Option may be either an Incentive Stock Option or a Nonqualified Stock Option, as determined by the Committee. 

2.24 “Other Incentive Award” means an incentive award granted to a Participant pursuant to Article XII. 

2.25 “Outside Director” means a member of the Board who (a) meets the independence requirements of the
principal exchange or quotation system upon which the shares of Common Stock are listed or quoted, (b) from and after the date on which the remuneration paid pursuant to the Plan becomes subject to the deduction limitation under
Section 162(m) of the Code, qualifies as an “outside director” under Section 162(m) of the Code, (c) qualifies as a “non-employee director” of Chaparral under Rule 16b-3, and (d) satisfies independence
criteria under any other applicable laws or regulations relating to the issuance of shares of Common Stock to Employees. 
 2.26
“Participant” means an Employee or director (including an Outside Director), of the Company that has been granted an Award; provided, however, that no Award that may be settled in Common Stock may be issued to a Participant that
is not a natural person. 
 2.27 “Performance Award” means an Award granted to a Participant pursuant to Article XI
to receive cash or Common Stock conditioned in whole or in part upon the satisfaction of specified performance criteria. 
 2.28
“Permitted Transferee” shall have the meaning given such term in Section 15.4(c). 
 2.29
“Plan” means the Chaparral Energy, Inc. Management Incentive Plan, as in effect from time to time. 
 2.30
“Restricted Period” means the period established by the Committee with respect to an Award of Restricted Stock or Restricted Stock Units during which the Award remains subject to forfeiture. 

2.31 “Restricted Stock” means a share of Common Stock granted to a Participant pursuant to Article IX that is subject
to such terms, conditions and restrictions as may be determined by the Committee. 
 2.32 “Restricted Stock Unit”
means a fictional share of Common Stock granted to a Participant pursuant to Article X that is subject to such terms, conditions and restrictions as may be determined by the Committee. 

2.33 “Rule 16b-3” means Rule 16b-3 promulgated by the SEC under the Exchange Act, or any successor rule or regulation
that may be in effect from time to time. 
 2.34 “SEC” means the United States Securities and Exchange Commission, or
any successor agency or organization. 

  
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 2.35 “Section 409A” means Section 409A of the Code and/or the
Treasury Regulations issued thereunder. 
 2.36 “Securities Act” means the Securities Act of 1933, as amended. 

2.37 “Stock Appreciation Right” or “SAR” means a right granted to a Participant pursuant to Article
VIII with respect to a share of Common Stock to receive upon exercise cash, Common Stock or a combination of cash and Common Stock, equal to the appreciation in value of a share of Common Stock. 

2.38 “Stock Award” means a share of Common Stock granted to a Participant pursuant to Article XII that is not subject
to vesting or forfeiture restrictions. 
 ARTICLE III. PLAN ADMINISTRATION 

3.1 Plan Administrator and Discretionary Authority. This Plan shall be administered by the Committee. The Committee shall have total
and exclusive responsibility to control, operate, manage and administer this Plan in accordance with its terms. The Committee shall have all the authority that may be necessary or helpful to enable it to discharge its responsibilities with respect
to this Plan. Without limiting the generality of the preceding sentence, the Committee shall have the exclusive right to (a) interpret this Plan and the Award Agreements executed hereunder, (b) decide all questions concerning eligibility
for, and the amount of, Awards granted under this Plan, (c) construe any ambiguous provision of this Plan or any Award Agreement, (d) prescribe the form of Award Agreements, (e) correct any defect, supply any omission or reconcile any
inconsistency in this Plan or any Award Agreement, (f) issue administrative guidelines as an aid in administering this Plan and make changes in such guidelines as the Committee from time to time deems proper, (g) make regulations for
carrying out this Plan and make changes in such regulations as the Committee from time to time deems proper, (h) determine whether Awards should be granted singly or in combination, (i) to the extent permitted under this Plan, grant
waivers of Plan terms, conditions, restrictions and limitations, (j) accelerate the exercise, vesting or payment of an Award, (k) require Participants to hold a stated number or percentage of shares of Common Stock acquired pursuant to an
Award for a stated period, and (l) take any and all other actions the Committee deems necessary or advisable for the proper operation or administration of this Plan. The Committee shall have authority in its sole discretion with respect to all
matters related to the discharge of its responsibilities and the exercise of its authority under this Plan, including without limitation its construction of the terms of this Plan and its determination of eligibility for participation in, and the
terms of Awards granted under, this Plan. The decisions of the Committee and its actions with respect to this Plan shall be final, conclusive and binding on all persons having or claiming to have any right or interest in or under this Plan,
including without limitation Participants and their respective Permitted Transferees, estates, beneficiaries and legal representatives. In the case of an Award intended to be eligible for the performance-based compensation exemption under
Section 162(m) of the Code, the Committee shall exercise its discretion consistent with qualifying the Award for such exemption. In the case of an Award intended to be exempt from or compliant with Section 409A, the Committee shall
exercise its discretion consistent with such intent. 

  
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 3.2 Liability; Indemnification. The Committee and each member thereof shall be entitled
to, in good faith, rely or act upon any report or other information furnished to him or her by any officer or employee of Chaparral or any of its subsidiaries, Chaparral’s legal counsel, independent auditors, consultants or any other agents
assisting in the administration of this Plan or grant of Awards hereunder. Members of the Committee and any officer or employee of Chaparral or any of its subsidiaries acting at the direction or on behalf of the Committee shall not be personally
liable for any action or determination taken or made in good faith with respect to this Plan, and shall, to the fullest extent permitted by law, be indemnified and held harmless by Chaparral with respect to any such action or determination. 

ARTICLE IV. SHARES SUBJECT TO THE PLAN 

4.1 Available Shares. 

(a) Subject to adjustment as provided in Section 4.2, the maximum number of shares of Common Stock that shall be available
for grant of Awards under this Plan shall be 3,388,832 shares of Common Stock. 
 (b) The maximum aggregate number of shares
of Common Stock that may be issued pursuant to Incentive Stock Options is 3,388,832 shares. The maximum number of shares of Common Stock that may be subject to Nonqualified Stock Options and SARs granted under the Plan to any one Participant during
a fiscal year is 3,388,832 shares. The maximum number of shares of Common Stock that may be subject to Awards (other than Incentive Stock Options, Nonqualified Stock Options and SARs) granted under the Plan to any one Participant during a fiscal
year is 3,388,832 shares. The limitations provided in this Section 4.1(b) shall be subject to adjustment as provided in Section 4.2. 

(c) If at any time Chaparral is not subject to the reporting requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, to comply with Rule 701 promulgated under the Securities Act, (i) the maximum number of shares of Common Stock that shall be available for grant of Awards under this Plan during any consecutive 12-month period shall be the
greatest of (A) a number of shares having an aggregate sales price of $1,000,000, (B) a number of shares having an aggregate sales price equal to fifteen percent of Chaparral’s total assets, measured on the date of Chaparral’s
most recent balance sheet, or (C) a number of shares equal to fifteen percent of Chaparral’s outstanding Common Stock, measured on the date of the Chaparral’s most recent balance sheet, and (ii) if the number of shares sold
during any consecutive 12-month period has an aggregate sales price exceeding $5,000,000, Chaparral will also provide each Participant with a summary of the material terms of this Plan, information about the risks associated with the shares, and
financial statements for Chaparral, all as required by Rule 701. 
 (d) Shares of Common Stock issued pursuant to this Plan
may be original issue or treasury shares or any combination of the foregoing, as the Committee, in its sole discretion, shall from time to time determine. During the term of this Plan, Chaparral will at all times reserve and keep available such
number of shares of Common Stock as shall be sufficient to satisfy the requirements of this Plan. If, after reasonable efforts, 

  
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which efforts shall not include registration of the Plan or Awards under the Securities Act, Chaparral is unable to obtain authority from any applicable regulatory body, which authorization is
deemed necessary by legal counsel for Chaparral for the lawful issuance of shares under the Plan, Chaparral shall be relieved of any liability with respect to its failure to issue and sell the shares for which such requisite authority was so deemed
necessary unless and until such authority is obtained. 
 (e) Notwithstanding any provision of this Plan to the contrary, the
Board or the Committee shall have the right to substitute or assume awards in connection with mergers, reorganizations, separations or other transactions to which Section 424(a) of the Code applies, provided such substitutions or assumptions
are permitted by Section 424 of the Code (or, if applicable, Section 409A) and the regulations promulgated thereunder. 
 4.2
Adjustments for Recapitalizations and Reorganizations. Subject to Article XIII, if there is any change in the number or kind of shares of Common Stock outstanding (a) by reason of a stock dividend, spin-off, recapitalization, stock
issuance, stock split or combination or exchange of shares, (b) by reason of a merger, reorganization or consolidation, (c) by reason of a reclassification or change in par value or (d) by reason of any other extraordinary or unusual
event affecting the outstanding Common Stock as a class without Chaparral’s receipt of consideration, or if the value of outstanding shares of Common Stock is reduced as a result of a spin-off or Chaparral’s payment of an extraordinary
cash dividend, or distribution, or dividend or distribution consisting of any assets of Chaparral other than cash, the maximum number and kind of shares of Common Stock available for issuance under this Plan, the maximum number and kind of shares of
Common Stock for which any individual may receive Awards in any fiscal year or under this Plan, the number and kind of shares of Common Stock covered by outstanding Awards, and the price per share or the applicable market value or performance target
of such Awards shall be appropriately adjusted by the Committee to reflect any increase or decrease in the number of, or change in the kind or value of, issued shares of Common Stock to preclude, to the extent practicable, the enlargement or
dilution of rights under such Awards; provided, however, that any fractional shares resulting from such adjustment shall be eliminated. Notwithstanding the provisions of this Section 4.2, (i) the number and kind of shares of Common Stock
available for issuance as Incentive Stock Options under this Plan shall be adjusted only in accordance with Sections 422 and 424 of the Code and the regulations thereunder, and (ii) outstanding Awards and Award Agreements shall be adjusted in
accordance with (A) Sections 422 and 424 of the Code and the regulations thereunder with respect to Incentive Stock Options and (B) Section 409A with respect to Nonqualified Stock Options, SARs and, to the extent applicable, other
Awards. 
 4.3 Adjustments for Awards. The Committee shall have sole discretion to determine the manner in which shares of Common
Stock available for grant of Awards under this Plan are counted. Without limiting the discretion of the Committee under this Section 4.3, unless otherwise determined by the Committee, the following rules shall apply for the purpose of
determining the number of shares of Common Stock available for grant of Awards under this Plan: 
 (a) Options, Restricted
Stock and Stock Awards. The grant of Options, Restricted Stock or Stock Awards shall reduce the number of shares of Common Stock available for grant of Awards under this Plan by the number of shares of Common Stock subject to such an Award. 

  
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 (b) SARs. The grant of SARs that may be paid or settled (i) only in
Common Stock or (ii) in either cash or Common Stock shall reduce the number of shares available for grant of Awards under this Plan by the number of shares subject to such an Award; provided, however, that upon the exercise of SARs, the excess
of the number of shares of Common Stock with respect to which the Award is exercised over the number of shares of Common Stock issued upon exercise of the Award shall again be available for grant of Awards under this Plan. The grant of SARs that may
be paid or settled only for cash shall not affect the number of shares available for grant of Awards under this Plan. 
 (c)
Restricted Stock Units. The grant of Restricted Stock Units (including those credited to a Participant in respect of a Dividend Unit Right) that may be paid or settled (i) only in Common Stock or (ii) in either cash or Common Stock
shall reduce the number of shares available for grant of Awards under this Plan by the number of shares subject to such an Award; provided, however, that upon settlement of the Award, the excess, if any, of the number of shares of Common Stock that
had been subject to such Award over the number of shares of Common Stock issued upon its settlement shall again be available for grant of Awards under this Plan. The grant of Restricted Stock Units that may be paid or settled only for cash shall not
affect the number of shares available for grant of Awards under this Plan. 
 (d) Performance Awards and Other Incentive
Awards. The grant of a Performance Award or Other Incentive Award in the form of Common Stock or that may be paid or settled (i) only in Common Stock or (ii) in either Common Stock or cash shall reduce the number of shares available
for grant of Awards under this Plan by the number of shares subject to such an Award; provided, however, that upon settlement of the Award, the excess, if any, of the number of shares of Common Stock that had been subject to such Award over the
number of shares of Common Stock issued upon its settlement shall again be available for grant of Awards under this Plan. The grant of a Performance Award or Other Incentive Award that may be paid or settled only for cash shall not affect the number
of shares available for grant of Awards under this Plan. 
 (e) Cancellation, Forfeiture and Termination. If any Award
referred to in Sections 4.3(a), (b), (c) or (d) (other than an Award that may be paid or settled only for cash) is canceled or forfeited, or terminates, expires or lapses, for any reason, the shares then subject to such Award shall again
be available for grant of any Awards under this Plan. 
 (f) Payment of Exercise Price and Withholding Taxes. If
shares of Common Stock are used to pay the exercise price of an Award, the number of shares available for grant of Awards under this Plan shall be increased by the number of shares delivered as payment of such exercise price. If shares of Common
Stock are used to pay withholding taxes payable upon exercise, vesting or payment of an Award, or shares of Common Stock that would be acquired upon exercise, vesting or payment of an Award are withheld to pay withholding taxes payable upon
exercise, vesting or payment of such Award, the number of shares available for grant of Awards under this Plan shall be increased by the number of shares delivered or withheld as payment of such withholding taxes. 

  
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 ARTICLE V. ELIGIBILITY 

The Committee shall select Participants from those Employees and directors (including Outside Directors) of the Company that, in the opinion
of the Committee, are in a position to make a significant contribution to the success of the Company. Once a Participant has been selected for an Award by the Committee, the Committee shall determine the type and size of Award to be granted to the
Participant and shall establish in the related Award Agreement the terms, conditions, restrictions and limitations applicable to the Award, in addition to those set forth in this Plan and the administrative guidelines and regulations, if any,
established by the Committee. 
 ARTICLE VI. FORM OF AWARDS 

6.1 Form of Awards. Awards may be granted under this Plan, in the Committee’s sole discretion, in the form of Options pursuant to
Article VII, SARs pursuant to Article VIII, Restricted Stock pursuant to Article IX, Restricted Stock Units pursuant to Article X, Performance Awards pursuant to Article XI and Stock Awards and Other Incentive Awards pursuant to Article XII, or any
combination thereof. All Awards shall be subject to the terms, conditions, restrictions and limitations of this Plan. The Committee may, in its sole discretion, subject any Award to such other terms, conditions, restrictions and/or limitations
(including without limitation the time and conditions of exercise, vesting or payment of an Award and restrictions on transferability of any shares of Common Stock issued or delivered pursuant to an Award), provided they are not inconsistent with
the terms of this Plan. The Committee may, but is not required to, subject an Award to such conditions as it determines are necessary or appropriate to ensure that an Award constitutes “qualified performance based compensation” within the
meaning of Section 162(m) of the Code and the regulations thereunder. Awards under a particular Article of this Plan need not be uniform, and Awards under more than one Article of this Plan may be combined in a single Award Agreement. Any
combination of Awards may be granted at one time and on more than one occasion to the same Participant. Subject to compliance with applicable tax law (including Section 409A), an Award Agreement may provide that a Participant may elect to defer
receipt of income attributable to the exercise or vesting of an Award. 
 6.2 Loans. The Committee may, in its sole discretion,
approve the extension of a loan by the Company to a Participant who is an Employee to assist the Participant in paying the exercise price or purchase price of an Award; provided, however, that no loan shall be made to any officer of the Company or
to any other person if the extension of such loan would violate any provision of applicable law (including, without limitation, the Sarbanes-Oxley Act of 2002). Any loan will be made upon such terms and conditions as the Committee shall determine.

 6.3 No Repricing or Reload Rights. Except for adjustments made pursuant to Section 4.2, no Award may be repriced, replaced,
regranted through cancellation or otherwise modified without stockholder approval, if the effect would be to reduce the exercise price for the shares underlying such Award. The Committee may not cancel an outstanding Option having an exercise price
that is known to be less than the Fair Market Value of the Common Stock for the purpose of granting a replacement Award of a different type. 

  
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 ARTICLE VII. OPTIONS 

7.1 General. Awards may be granted in the form of Options that may be Incentive Stock Options or Nonqualified Stock Options, or any
combination of both. Incentive Stock Options may be granted only to Employees. Notwithstanding any provision of this Plan to the contrary, Incentive Stock Options may not be granted under this Plan unless and until the Plan satisfies the stockholder
approval requirements of Section 422 of the Code. Subject to Article V, Nonqualified Stock Options may be granted only to Employees and directors (including Outside Directors) of Chaparral or a corporation or other type of entity in a chain of
corporations or other entities in which each corporation or other entity has a “controlling interest” in another corporation or entity in the chain, starting with Chaparral and ending with the corporation or other entity for which the
Employee or director (including an Outside Director) performs services. For purposes of this Section 7.1, “controlling interest” means (a) in the case of a corporation, ownership of stock possessing at least 50% of total combined
voting power of all classes of stock entitled to vote of such corporation or at least 50% of the total value of shares of all classes of stock of such corporation; (b) in the case of a partnership, ownership of at least 50% of the profits
interest or capital interest of such partnership; (c) in the case of a sole proprietorship, ownership of the sole proprietorship; or (d) in the case of a trust or estate, ownership of an actuarial interest (as defined in Treasury
Regulation § 1.414(c)-2(b)(2)(ii)) of at least 50% of such trust or estate. 
 7.2 Terms and Conditions of Options. An Option
shall be exercisable in whole or in such installments and at such times as may be determined by the Committee. The price at which a share of Common Stock may be purchased upon exercise of an Option shall be determined by the Committee, but such
exercise price shall not be less than 100% of the Fair Market Value per share of Common Stock on the Grant Date unless, with respect to a Nonqualified Stock Option, (a) the Option is granted through the assumption of, or in substitution for,
outstanding awards previously granted to individuals who became Employees (or other service providers) as a result of a merger, consolidation, acquisition or other corporate transaction involving the Company which complies with Treasury Regulation
§ 1.409A-1(b)(5)(v)(D) or (b) the Option is otherwise structured to be exempt from or compliant with Section 409A. Except as otherwise provided in Section 7.3, the term of each Option shall be as specified by the Committee;
provided, however, that no Options shall be exercisable later than 10 years after the Grant Date. Options may be granted with respect to Restricted Stock or shares of Common Stock that are not Restricted Stock, as determined by the Committee in its
sole discretion. 
 7.3 Restrictions Relating to Incentive Stock Options. 

(a) Options granted in the form of Incentive Stock Options shall, in addition to being subject to the terms and conditions of
Section 7.2, comply with Section 422(b) of the Code. To the extent the aggregate Fair Market Value (determined as of the dates the respective Incentive Stock Options are granted) of Common Stock with respect to

  
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which Incentive Stock Options are exercisable for the first time by an individual during any calendar year under all incentive stock option plans of Chaparral and its Affiliates exceeds $100,000,
such excess Incentive Stock Options shall be treated as options that do not constitute Incentive Stock Options. The Committee shall determine, in accordance with the applicable provisions of the Code, which of a Participant’s Incentive Stock
Options will not constitute Incentive Stock Options because of such limitation and shall notify the Participant of such determination as soon as practicable after such determination. The price at which a share of Common Stock may be purchased upon
exercise of an Incentive Stock Option shall be determined by the Committee, but such exercise price shall not be less than 100% of the Fair Market Value of a share of Common Stock on the Grant Date. No Incentive Stock Option shall be granted to an
Employee under this Plan if, at the time such Option is granted, such Employee owns stock possessing more than 10% of the total combined voting power of all classes of stock of Chaparral or of its Affiliates unless (i) on the Grant Date of such
Option, the exercise price of such Option is at least 110% of the Fair Market Value of the Common Stock subject to the Option and (ii) such Option by its terms is not exercisable after the expiration of five years from the Grant Date of the
Option. 
 (b) Each Participant awarded an Incentive Stock Option shall notify Chaparral in writing immediately after the
date he or she makes a disqualifying disposition of any shares of Common Stock acquired pursuant to the exercise of such Incentive Stock Option. A disqualifying disposition is any disposition (including any sale) of such Common Stock before the
later of (i) two years after the Grant Date of the Incentive Stock Option or (ii) one year after the date of exercise of the Incentive Stock Option. 

7.4 Exercise of Options. 

(a) Subject to the terms and conditions of this Plan, Options shall be exercised by the delivery of a written notice of
exercise to Chaparral, setting forth the number of whole shares of Common Stock with respect to which the Option is to be exercised, accompanied by full payment for such shares. 

(b) Upon exercise of an Option, the exercise price of the Option shall be payable to Chaparral in full either (i) in cash
or an equivalent acceptable to the Committee, (ii) in the sole discretion of the Committee and in accordance with any applicable administrative guidelines established by the Committee, (A) by tendering one or more previously acquired
nonforfeitable, unrestricted shares of Common Stock having an aggregate Fair Market Value at the time of exercise equal to the total exercise price or (B) by surrendering a sufficient portion of the shares with respect to which the Option is
exercised having an aggregate Fair Market Value at the time of exercise equal to the total exercise price or (iii) in a combination of the forms specified in (i) or (ii) of this subsection. 

(c) During such time as the Common Stock is registered under Section 12 of the Exchange Act, to the extent permissible
under applicable law, payment of the exercise price of an Option may also be made, in the absolute discretion of the Committee, by delivery to Chaparral or its designated agent of an executed irrevocable

  
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option exercise form together with irrevocable instructions to a broker-dealer to sell or margin a sufficient portion of the shares with respect to which the Option is exercised and deliver the
sale or margin loan proceeds directly to Chaparral to pay the exercise price and any required withholding taxes. 
 (d) As
soon as reasonably practicable after receipt of written notification of exercise of an Option and full payment of the exercise price and any required withholding taxes, Chaparral shall (i) deliver to the Participant, in the Participant’s
name or the name of the Participant’s designee, a stock certificate or certificates in an appropriate aggregate amount based upon the number of shares of Common Stock purchased under the Option or (ii) cause to be issued in the
Participant’s name or the name of the Participant’s designee, in book-entry form, an appropriate number of shares of Common Stock based upon the number of shares purchased under the Option. 

7.5 Termination of Employment or Service. Each Award Agreement embodying the Award of an Option shall set forth the extent to which the
Participant shall have the right to exercise the Option following termination of the Participant’s employment or service with the Company. Such provisions shall be determined by the Committee in its absolute discretion, need not be uniform
among all Options granted under this Plan and may reflect distinctions based on the reasons for termination of employment or service. In the event a Participant’s Award Agreement embodying the Award of an Option does not set forth such
termination provisions, the following termination provisions shall apply with respect to such Award: 
 (a) Termination
For Cause. If the employment or service of a Participant shall terminate for Cause, each outstanding Option held by the Participant shall automatically terminate as of the date of such termination of employment or service, and the right to
exercise the Option shall immediately terminate. 
 (b) Termination By Reason of Death or Disability. In the event of
a Participant’s death or Disability while employed by or in the service of Chaparral or an Affiliate, each outstanding Option shall remain outstanding and may be exercised by the person who acquires the Option by will or the laws of descent and
distribution, or by the Participant, as the case may be, but only (i) within the one year period following the date of death or Disability (if otherwise prior to the date of expiration of the Option), and not thereafter, and (ii) to
purchase the number of shares of Common Stock, if any, that could be purchased upon exercise of the Option at the time of death or Disability. 

(c) Termination For Reasons Other Than Cause, Death or Disability. If a Participant’s employment or service with
the Company is terminated voluntarily by the Participant or by action of Chaparral or an Affiliate for reasons other than for Cause, an Option may be exercised, but only (i) within three months after such termination (if otherwise prior to the
date of expiration of the Option), and not thereafter, and (ii) to purchase the number of shares of Common Stock, if any, that could be purchased upon exercise of the Option at the date of termination of the Participant’s employment or
service. 

  
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 Notwithstanding the foregoing, except in the case of a Participant’s death, an Option will not be treated as
an Incentive Stock Option unless at all times beginning on the Grant Date and ending on the day three months (one year in the case of a Participant who is “disabled” within the meaning of Section 22(e)(3) of the Code) before the date
of exercise of the Option, the Participant is an employee of Chaparral or a “parent corporation” or a “subsidiary corporation” of Chaparral, as those terms are defined in Sections 424(e) and (f) of the Code, respectively (or
a corporation or a parent or subsidiary corporation of such corporation issuing or assuming an option in a transaction to which Section 424(a) of the Code applies). 

ARTICLE VIII. STOCK APPRECIATION RIGHTS 

8.1 General. 

(a) The Committee may grant Awards in the form of SARs in such numbers and at such times as it shall determine. SARs shall vest
and be exercisable in whole or in such installments and at such times as may be determined by the Committee. The price at which SARs may be exercised shall be determined by the Committee but shall not be less than 100% of the Fair Market Value per
share of Common Stock on the Grant Date unless (i) the SARs are granted through the assumption of, or in substitution for, outstanding awards previously granted to individuals who became Employees (or other service providers) as a result of a
merger, consolidation, acquisition or other corporate transaction involving the Company which complies with Treasury Regulation § 1.409A-1(b)(5)(v)(D) or (ii) the SARs are otherwise structured to be exempt from or compliant with
Section 409A. The term of each SAR shall be as specified by the Committee; provided, however, that no SAR shall be exercisable later than 10 years after the Grant Date. At the time of an Award of SARs, the Committee may, in its sole discretion,
prescribe additional terms, conditions, restrictions and limitations applicable to the SARs, including without limitation rules pertaining to the termination of employment or service (by reason of death, permanent and total disability, or otherwise)
of a Participant prior to exercise of the SARs, as it determines are necessary or appropriate, provided they are not inconsistent with this Plan. 

(b) Subject to Article V, SARs may be granted only to Employees and directors (including Outside Directors) of Chaparral or a
corporation or other type of entity in a chain of corporations or other entities in which each corporation or other entity has a “controlling interest” in another corporation or entity in the chain, starting with Chaparral and ending with
the corporation or other entity for which the Employee or director (including an Outside Director) performs services. For purposes of this Section 8.1(b), “controlling interest” means (a) in the case of a corporation, ownership
of stock possessing at least 50% of total combined voting power of all classes of stock entitled to vote of such corporation or at least 50% of the total value of shares of all classes of stock of such corporation; (b) in the case of a
partnership, ownership of at least 50% of the profits interest or capital interest of such partnership; (c) in the case of a sole proprietorship, ownership of the sole proprietorship; or (d) in the case of a trust or estate, ownership of
an actuarial interest (as defined in Treasury Regulation § 1.414(c)-2(b)(2)(ii)) of at least 50% of such trust or estate. 

  
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 8.2 Exercise of SARs. SARs shall be exercised by the delivery of a written notice of
exercise to Chaparral, setting forth the number of whole shares of Common Stock with respect to which the Award is being exercised. Upon the exercise of SARs, the Participant shall be entitled to receive an amount equal to the excess of the
aggregate Fair Market Value of the shares of Common Stock with respect to which the Award is exercised (determined as of the date of such exercise) over the aggregate exercise price of such shares. Such amount shall be payable to the Participant in
cash or in shares of Common Stock, as provided in the Award Agreement. 
 ARTICLE IX. RESTRICTED STOCK 

9.1 General. Awards may be granted in the form of Restricted Stock in such numbers and at such times as the Committee shall determine.
The Committee shall impose such terms, conditions and restrictions on Restricted Stock as it may deem advisable, including without limitation prescribing the period over which and the conditions upon which the Restricted Stock may become vested or
be forfeited and/or providing for vesting upon the achievement of specified performance goals pursuant to a Performance Award. A Participant shall not be required to make any payment for Restricted Stock unless required by the Committee pursuant to
Section 9.2. 
 9.2 Purchased Restricted Stock. The Committee may in its sole discretion require a Participant to pay a
stipulated purchase price for each share of Restricted Stock. 
 9.3 Restricted Period. At the time an Award of Restricted
Stock is granted, the Committee shall establish a Restricted Period applicable to such Restricted Stock. Each Award of Restricted Stock may have a different Restricted Period in the sole discretion of the Committee. 

9.4 Other Terms and Conditions. Restricted Stock shall constitute issued and outstanding shares of Common Stock for all corporate
purposes. Restricted Stock awarded to a Participant under this Plan shall be registered in the name of the Participant or, at the option of Chaparral, in the name of a nominee of Chaparral, and shall be issued in book-entry form or represented by a
stock certificate. Subject to the terms and conditions of the Award Agreement, a Participant to whom Restricted Stock has been awarded shall have the right to receive dividends thereon during the Restricted Period and to enjoy all other stockholder
rights with respect thereto, except that (a) Chaparral shall retain custody of any certificates evidencing the Restricted Stock during the Restricted Period and (b) the Participant may not sell, transfer, pledge, exchange, hypothecate or
otherwise dispose of the Restricted Stock during the Restricted Period. A breach of the terms and conditions established by the Committee pursuant to the Award of the Restricted Stock may result in a forfeiture of the Restricted Stock. At the time
of an Award of Restricted Stock, the Committee may, in its sole discretion, prescribe additional terms, conditions, restrictions and limitations applicable to the Restricted Stock, including without limitation rules pertaining to the termination of
employment or service (by reason of death, permanent and total disability, retirement, cause or otherwise) of a Participant prior to expiration of the Restricted Period. 

  
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 9.5 Miscellaneous. Nothing in this Article shall prohibit the exchange of shares of
Restricted Stock pursuant to a plan of merger or reorganization for stock or other securities of Chaparral or another corporation that is a party to the merger or reorganization, provided that the stock or securities so received in exchange for
shares of Restricted Stock shall, except as provided in Article XIII, become subject to the restrictions applicable to such Restricted Stock. Any shares of Common Stock received as a result of a stock split or stock dividend with respect to shares
of Restricted Stock shall also become subject to the restrictions applicable to such Restricted Stock. 
 ARTICLE X. RESTRICTED
STOCK UNITS 
 10.1 General. Awards may be granted in the form of Restricted Stock Units in such numbers and at such times as the
Committee shall determine. The Committee shall impose such terms, conditions and restrictions on Restricted Stock Units as it may deem advisable, including without limitation prescribing the period over which and the conditions upon which a
Restricted Stock Unit may become vested or be forfeited and/or providing for vesting upon the achievement of specified performance goals pursuant to a Performance Award. Upon the lapse of restrictions with respect to each Restricted Stock Unit, the
Participant shall be entitled to receive one share of Common Stock or an amount of cash equal to the Fair Market Value of one share of Common Stock, as provided in the Award Agreement. A Participant shall not be required to make any payment for
Restricted Stock Units. 
 10.2 Restricted Period. At the time an Award of Restricted Stock Units is granted, the Committee
shall establish a Restricted Period applicable to such Restricted Stock Units. Each Award of Restricted Stock Units may have a different Restricted Period in the sole discretion of the Committee. 

10.3 Cash Dividend Rights and Dividend Unit Rights. To the extent provided by the Committee in its sole discretion, a grant of
Restricted Stock Units may include a tandem Cash Dividend Right or Dividend Unit Right grant. A grant of Cash Dividend Rights may provide that such Cash Dividend Rights shall be paid directly to the Participant at the time of payment of the related
dividend, be credited to a bookkeeping account subject to the same vesting and payment provisions as the tandem Award (with or without interest in the sole discretion of the Committee), or be subject to such other provisions or restrictions as
determined by the Committee in its sole discretion. A grant of Dividend Unit Rights may provide that such Dividend Unit Rights shall be subject to the same vesting and payment provisions as the tandem Award or be subject to such other provisions and
restrictions as determined by the Committee in its sole discretion. 
 10.4 Other Terms and Conditions. At the time of an Award
of Restricted Stock Units, the Committee may, in its sole discretion, prescribe additional terms, conditions, restrictions and limitations applicable to the Restricted Stock Units, including without limitation rules pertaining to the termination of
employment or service (by reason of death, total and permanent disability, retirement, Cause or otherwise) of a Participant prior to expiration of the Restricted Period. 

  
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 ARTICLE XI. PERFORMANCE AWARDS 

11.1 General. Awards may be granted in the form of Performance Awards that may be payable in the form of cash, shares of Common Stock
or any combination of both, in such amounts and at such times as the Committee shall determine. Performance Awards shall be conditioned upon the level of achievement of one or more stated performance goals over a specified performance period
established by the Committee. Performance Awards may be combined with other Awards to impose performance criteria as part of the terms of such other Awards. 

11.2 Terms and Conditions. Each Award Agreement embodying a Performance Award shall set forth (a) the amount, including a target
and maximum amount if applicable, a Participant may earn in the form of cash or shares of Common Stock or a formula for determining such amount, (b) the performance criteria and level of achievement versus such criteria that shall determine the
amount payable or number of shares of Common Stock to be granted, issued, retained and/or vested, (c) the performance period over which performance is to be measured, (d) the timing of any payments to be made, (e) restrictions on the
transferability of the Award and (f) such other terms and conditions as the Committee may determine that are not inconsistent with this Plan. 

ARTICLE XII. STOCK AWARDS AND OTHER INCENTIVE AWARDS 

12.1 Stock Awards. Stock Awards may be granted to Participants upon such terms and conditions as the Committee may determine. Shares of
Common Stock issued pursuant to Stock Awards may be issued for cash consideration or for no cash consideration. The Committee shall determine the number of shares of Common Stock to be issued pursuant to a Stock Award. The Committee may in its sole
discretion require a Participant to pay a stipulated purchase price for each share of Common Stock covered by a Stock Award. 

12.2 Other Incentive Awards. Other Incentive Awards may be granted in such amounts, upon such terms and at such times as the Committee
shall determine. Other Incentive Awards may be granted based upon, payable in or otherwise related to, in whole or in part, shares of Common Stock if the Committee, in its sole discretion, determines that such Other Incentive Awards are consistent
with the purposes of this Plan. Each grant of an Other Incentive Award shall be evidenced by an Award Agreement that shall specify the amount of the Other Incentive Award and the terms, conditions, restrictions and limitations applicable to such
Award. Payment of Other Incentive Awards shall be made at such times and in such form, which may be cash, shares of Common Stock or other property (or any combination thereof), as established by the Committee, subject to the terms of this Plan.

 ARTICLE XIII. CHANGE IN CONTROL 

13.1 Vesting of Awards. Notwithstanding any provision of this Plan to the contrary, in the event of a Change in Control, the Committee,
in its sole discretion, may accelerate or waive any time periods, conditions or contingencies relating to the exercise or realization of, or lapse of restrictions under, an Award granted hereunder and then outstanding (including treating any
Performance Awards as if all performance criteria and other conditions were achieved or fulfilled to the maximum extent possible) so that: 

  
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 (a) if no exercise of the Award is required, the Award may be realized in full at
the time of the occurrence of the Change in Control (the “Change Effective Time”), or 
 (b) if exercise of
the Award is required, the Award may be exercised in full as of the Change Effective Time; 
 provided that any such action contemplated under this
Section 13.1 shall be effective only to the extent that such action will not cause any Award that is designed to satisfy Section 409A to fail to satisfy such section. 

13.2 Assumption of Awards. Upon a Change in Control where Chaparral is not the surviving entity (or survives only as a subsidiary of
another entity), unless the Committee determines otherwise, all outstanding Options and SARs that are not exercised at or before the Change Effective Time will be assumed by or replaced with comparable options and rights in the surviving entity (or
a parent of the surviving entity) in accordance with Code Section 424 or Section 409A and the Treasury Regulations and other guidance thereunder, as applicable, and other outstanding Awards will be converted into similar awards of the
surviving entity (or a parent of the surviving entity). 
 13.3 Cancellation of Awards. Notwithstanding the foregoing, in the event of
a Change in Control of Chaparral, then the Committee, in its sole discretion, may, no later than the Change Effective Time, require any Participant holding an Award to surrender such Award in exchange for (a) with respect to each share of
Common Stock subject to an Option or SAR (whether or not vested), payment by the Company (or a successor), in cash, of an amount equivalent to the excess of the value of the consideration received for each share of Common Stock by holders of Common
Stock in connection with such Change in Control (the “Change in Control Consideration”) over the exercise price or grant price per share, (b) with respect to each share of Common Stock subject to an Award of Restricted Stock,
Restricted Stock Units or Other Incentive Awards, and related Cash Dividend Rights and Dividend Unit Rights (if applicable), payment by the Company (or a successor), in cash, of an amount equivalent to the value of any such Cash Dividend Rights and
Dividend Unit Rights plus the value of the Change in Control Consideration for each share covered by the Award, assuming all restrictions or limitations (including risks of forfeiture) have lapsed and (c) with respect to a Performance Award,
payment by the Company (or a successor), in cash, of an amount equivalent to the value of such Award, as determined by the Committee, taking into account, to the extent applicable, the Change in Control Consideration, and assuming all performance
criteria and other conditions to payment of such Awards are achieved or fulfilled to the maximum extent possible. Payments made upon a Change in Control pursuant to this Section 13.3 shall be made no later than the Change Effective Time. 

  
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 ARTICLE XIV. AMENDMENT AND TERMINATION 

14.1 Plan Amendment and Termination. The Board may at any time suspend, terminate, amend or modify this Plan, in whole or in
part; provided, however, that no amendment or modification of this Plan shall become effective without the approval of such amendment or modification by the holders of at least a majority of the shares of Common Stock entitled to vote on such matter
if (a) such amendment or modification increases the maximum number of shares subject to this Plan (except as provided in Article IV) or changes the designation or class of persons eligible to receive Awards under this Plan or (b) counsel
for Chaparral determines that such approval is otherwise required by or necessary to comply with applicable law or the listing requirements of an exchange or association on which the Common Stock is then listed or quoted. An amendment to this Plan
generally will not require stockholder approval if it curtails rather than expands the scope of this Plan, nor if it is made to conform this Plan to statutory or regulatory requirements, such as, without limitation, Section 409A. Upon
termination of this Plan, the terms and provisions of this Plan shall, notwithstanding such termination, continue to apply to Awards granted prior to such termination. Except as otherwise provided herein, no suspension, termination, amendment or
modification of this Plan shall adversely affect in any material way any Award previously granted under this Plan, without the consent of the Participant (or the Permitted Transferee) holding such Award. 

14.2 Award Amendment and Cancellation. The Committee may amend the terms of any outstanding Award granted pursuant to this Plan, but
except as otherwise provided herein, no such amendment shall adversely affect in any material way the Participant’s (or a Permitted Transferee’s) rights under an outstanding Award without the consent of the Participant (or the Permitted
Transferee) holding such Award. Notwithstanding the foregoing, Chaparral may amend any Award Agreement to be exempt from Section 409A or to comply with the requirements of Section 409A or to modify any provision that causes an Award that
is intended to be classified as an “equity instrument” under FASB Accounting Standards Codification, Topic 718 to be classified as a liability on Chaparral’s financial statements. 

ARTICLE XV. MISCELLANEOUS 

15.1 Award Agreements. After the Committee grants an Award under this Plan to a Participant, Chaparral and the Participant shall enter
into an Award Agreement setting forth the terms, conditions, restrictions and limitations applicable to the Award and such other matters as the Committee may determine to be appropriate. The Committee may permit or require a Participant to defer
receipt of the payment of cash or the delivery of shares of Common Stock that would otherwise be due to the Participant in connection with any Award; provided, however, that any permitted deferrals shall be structured to meet the requirements of
Section 409A. The terms and provisions of the respective Award Agreements need not be identical. All Award Agreements shall be subject to the provisions of this Plan, and in the event of any conflict between an Award Agreement and this Plan,
the terms of this Plan shall govern. All Awards under this Plan are intended to be structured in a manner that will either comply with or be exempt from Section 409A. 

15.2 Listing; Suspension. 

(a) If and as long as the Common Stock is listed on a national securities exchange or system sponsored by a national securities
association, the issuance of any shares of Common Stock pursuant to an Award shall be conditioned upon such shares being listed on such exchange or system. Chaparral shall have no obligation to issue such shares unless and until such shares are so
listed, and the right to exercise any Option or other Award with respect to such shares shall be suspended until such listing has been effected. 

  
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 (b) If at any time counsel to Chaparral or its Affiliates shall be of the opinion
that any sale or delivery of shares of Common Stock pursuant to an Award is or may in the circumstances be unlawful or result in the imposition of excise taxes on Chaparral or its Affiliates under the laws of any applicable jurisdiction, Chaparral
or its Affiliates shall have no obligation to make such sale or delivery, or to make any application or to effect or to maintain any qualification or registration under the Securities Act, or otherwise, with respect to shares of Common Stock or
Awards, and the right to exercise any Option or other Award shall be suspended until, in the opinion of such counsel, such sale or delivery shall be lawful or will not result in the imposition of excise taxes on Chaparral or its Affiliates. 

(c) Upon termination of any period of suspension under this Section 15.2, any Award affected by such suspension that shall
not then have expired or terminated shall be reinstated as to all shares available before such suspension and as to shares that would otherwise have become available during the period of such suspension, but no such suspension shall extend the term
of any Award unless otherwise determined by the Committee in its sole discretion. 
 15.3 Additional Conditions. Notwithstanding
anything in this Plan to the contrary (a) the Committee may, if it shall determine it necessary or desirable in its sole discretion, at the time of grant of any Award or the issuance of any shares of Common Stock pursuant to any Award, require
the recipient of the Award or such shares of Common Stock, as a condition to the receipt thereof, to deliver to Chaparral a written representation of present intention to acquire the Award or such shares of Common Stock for his own account for
investment and not for distribution, (b) the certificate for shares of Common Stock issued to a Participant may include any legend that the Committee deems appropriate to reflect any restrictions on transfer and (c) all certificates for
shares of Common Stock delivered under this Plan shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the rules, regulations and other requirements of the Securities and Exchange Commission,
any stock exchange or association upon which the Common Stock is then listed or quoted, any applicable federal or state securities law, and any applicable corporate law, and the Committee may cause a legend or legends to be placed on any such
certificates to make appropriate reference to such restrictions. 
 15.4 Transferability. 

(a) All Awards granted to a Participant shall be exercisable during his lifetime only by such Participant, or if applicable, a
Permitted Transferee as provided in subsection (c) of this Section 15.4; provided, however, that in the event of a Participant’s legal incapacity, an Award may be exercised by his guardian or legal representative. When a Participant
dies, the personal representative, beneficiary, or other person entitled to succeed to the rights of the Participant may acquire the rights under an Award. Any such successor must furnish proof satisfactory to Chaparral of the successor’s
entitlement to receive the rights under an Award under the Participant’s will or under the applicable laws of descent and distribution. 

  
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 (b) Except as otherwise provided in this Section 15.4, no Award shall be
subject to execution, attachment or similar process, and no Award may be sold, transferred, pledged, exchanged, hypothecated or otherwise disposed of, other than by will or pursuant to the applicable laws of descent and distribution. Any attempted
sale, transfer, pledge, exchange, hypothecation or other disposition of an Award not specifically permitted by this Plan or the Award Agreement shall be null and void and without effect. 

(c) If provided in the Award Agreement, Nonqualified Stock Options may be transferred by a Participant to a Permitted
Transferee. For purposes of this Plan, “Permitted Transferee” means (i) a member of a Participant’s immediate family, (ii) trusts in which a person listed in (i) above has more than 50% of the beneficial
interest, (iii) a foundation in which the Participant or a person listed in (i) above controls the management of assets, (iv) any other entity in which the Participant or a person listed in (i) above owns more than 50% of the
voting interests, provided that in the case of the preceding clauses (i) through (iv), no consideration is provided for the transfer and (v) any transferee permitted under applicable securities and tax laws as determined by counsel to
Chaparral. In determining whether a person is a “Permitted Transferee,” immediate family members shall include a Participant’s child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece,
nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law, including adoptive relationships. 

(d) Incident to a Participant’s divorce, the Participant may request that Chaparral agree to observe the terms of a
domestic relations order which may or may not be part of a qualified domestic relations order (as defined in Code Section 414(p)) with respect to all or a part of one or more Awards made to the Participant under this Plan. Chaparral’s
decision regarding such a request shall be made by the Committee, in its sole and absolute discretion, based upon the best interests of Chaparral. The Committee’s decision need not be uniform among Participants. As a condition of participation,
a Participant agrees to hold Chaparral harmless from any claim that may arise out of Chaparral’s observance of the terms of any such domestic relations order. 

15.5 Withholding Taxes. The Company shall be entitled to deduct from any payment made under this Plan, regardless of the form of such
payment, the amount of all applicable income and employment taxes required by law to be withheld with respect to such payment, may require the Participant to pay to the Company such withholding taxes prior to and as a condition of the making of any
payment or the issuance or delivery of any shares of Common Stock under this Plan, and shall be entitled to deduct from any other compensation payable to the Participant any withholding obligations with respect to Awards. In accordance with any
applicable administrative guidelines it establishes, the Committee may allow a Participant to pay the amount of taxes required by law to be withheld from or with respect to an Award by (a) withholding shares of Common Stock from any payment of
Common Stock due as a result of such Award, or (b) permitting the Participant to deliver to the Company previously acquired  

  
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shares of Common Stock. If such tax withholding amounts are satisfied through net settlement or previously acquired shares, the maximum number of shares of Common Stock that may be so withheld or
surrendered shall be the number of shares of Common Stock that have an aggregate Fair Market Value on the date of withholding or surrender equal to the aggregate amount of such tax liabilities determined based on the greatest withholding rates for
federal, state and/or local tax purposes, including payroll taxes, that may be utilized without creating adverse accounting treatment for the Company with respect to such Award, as determined by the Committee. No payment shall be made and no shares
of Common Stock shall be issued pursuant to any Award unless and until the applicable tax withholding obligations have been satisfied. 

15.6 No Fractional Shares. No fractional shares of Common Stock shall be issued or delivered pursuant to this Plan or any Award granted
hereunder, provided that the Committee in its sole discretion may round fractional shares down to the nearest whole share or settle fractional shares in cash. 

15.7 Notices. All notices required or permitted to be given or made under this Plan or pursuant to any Award Agreement (unless provided
otherwise in such Award Agreement) shall be in writing and shall be deemed to have been duly given or made if (a) delivered personally, (b) transmitted by first class registered or certified United States mail, postage prepaid, return
receipt requested, (c) sent by prepaid overnight courier service or (d) sent by telecopy, facsimile or electronic transmission, with confirmation receipt, to the person who is to receive it at the address that such person has theretofore
specified by written notice delivered in accordance herewith. Such notices shall be effective (i) if delivered personally or sent by courier service, upon actual receipt by the intended recipient, (ii) if mailed, upon the earlier of five
days after deposit in the mail or the date of delivery as shown by the return receipt therefore or (iii) if sent by telecopy, facsimile or electronic transmission, when the answer back is received. Chaparral or a Participant may change, at any
time and from time to time, by written notice to the other, the address that it or such Participant had theretofore specified for receiving notices. Until such address is changed in accordance herewith, notices hereunder or under an Award Agreement
shall be delivered or sent (A) to a Participant at his address as set forth in the records of the Company or (B) to Chaparral at the principal executive offices of Chaparral clearly marked “Attention: Chief Financial Officer.”

 15.8 Compliance with Law and Stock Exchange or Association Requirements. It is the intent of Chaparral that Options designated
Incentive Stock Options comply with the applicable provisions of Section 422 of the Code, that Awards intended to constitute “qualified performance-based awards” comply with the applicable provisions of Section 162(m) of the
Code, and that all Awards either be exempt from Section 409A or, if not exempt, comply with the requirements of Section 409A. To the extent that any legal requirement of Sections 422, 162(m) or 409A as set forth in this Plan ceases to be
required under Sections 422, 162(m) or 409A, that Plan provision shall cease to apply. Any provision of this Plan to the contrary notwithstanding, the Committee may revoke any Award if it is contrary to law, governmental regulation or stock exchange
or association requirements or modify an Award to bring it into compliance with any government regulation or stock exchange or association requirements. The Committee may agree to limit its authority under this Section 15.8. 

  
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 15.9 Binding Effect. The obligations of Chaparral under this Plan shall be binding upon
any successor corporation or organization resulting from the merger, consolidation or other reorganization of Chaparral, or upon any successor corporation or organization succeeding to all or substantially all of the assets and business of
Chaparral. The terms and conditions of this Plan shall be binding upon each Participant and his Permitted Transferees, heirs, legatees, distributees and legal representatives. 

15.10 Severability. If any provision of this Plan or any Award Agreement is held to be illegal or invalid for any reason, the illegality
or invalidity shall not affect the remaining provisions of this Plan or such agreement, as the case may be, but such provision shall be fully severable and this Plan or such agreement, as the case may be, shall be construed and enforced as if the
illegal or invalid provision had never been included herein or therein. 
 15.11 No Restriction of Corporate Action. Nothing
contained in this Plan shall be construed to prevent Chaparral or any Affiliate from taking any corporate action (including any corporate action to suspend, terminate, amend or modify this Plan) that is deemed by Chaparral or such Affiliate to be
appropriate or in its best interest, whether or not such action would have an adverse effect on this Plan or any Awards made or to be made under this Plan. No Participant or other person shall have any claim against Chaparral or any Affiliate as a
result of such action. 
 15.12 Clawback. The Plan and all Awards granted hereunder are subject to any written clawback
policies that Chaparral, with the approval of the Board or an authorized committee thereof, may adopt either prior to or following the Effective Date, including any policy adopted to conform to the Dodd-Frank Wall Street Reform and Consumer
Protection Act of 2010 and rules promulgated thereunder by the SEC and that the Chaparral determines should apply to Awards. Any such policy may subject a Participant’s Awards and amounts paid or realized with respect to Awards to reduction,
cancelation, forfeiture or recoupment if certain specified events or wrongful conduct occur, including an accounting restatement due to the Chaparral’s material noncompliance with financial reporting regulations or other events or wrongful
conduct specified in any such clawback policy. 
 15.13 Governing Law. This Plan shall be governed by and construed in
accordance with the internal laws (and not the principles relating to conflicts of laws) of the State of Delaware except as superseded by applicable federal law. 

15.14 No Right, Title or Interest in Company Assets. No Participant shall have any rights as a stockholder of Chaparral as a result of
participation in this Plan until the date of issuance of Common Stock in his name and, in the case of Restricted Stock, unless and until such rights are granted to the Participant pursuant to this Plan. To the extent any person acquires a right to
receive payments from the Company under this Plan, such rights shall be no greater than the rights of an unsecured general creditor of the Company, and such person shall not have any rights in or against any specific assets of the Company. All
Awards shall be unfunded. 
 15.15 Risk of Participation. Nothing contained in this Plan shall be construed either as a
guarantee by Chaparral or its Affiliates, or their respective stockholders, directors, officers or employees, of the value of any assets of this Plan or as an agreement by Chaparral or its Affiliates, or their respective stockholders, directors,
officers or employees, to indemnify anyone for any losses, damages, costs or expenses resulting from participation in this Plan. 

  
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 15.16 No Guarantee of Tax Consequences. No person connected with this Plan in any
capacity, including without limitation Chaparral and its Affiliates and their respective directors, officers, agents and employees, makes any representation, commitment or guarantee that any tax treatment, including without limitation federal, state
and local income, estate and gift tax treatment, will be applicable with respect to any Awards or payments thereunder made to or for the benefit of a Participant under this Plan or that such tax treatment will apply to or be available to a
Participant on account of participation in this Plan. 
 15.17 Continued Employment or Service. Nothing contained in this Plan
or in any Award Agreement shall confer upon any Participant the right to continue in the employ or service of the Company, or interfere in any way with the rights of the Company to terminate a Participant’s employment or service at any time,
with or without cause. The loss of existing or potential profit in Awards will not constitute an element of damages in the event of termination of employment or service for any reason, even if the termination is in violation of an obligation of
Chaparral or an Affiliate to the Participant. 
 15.18 Miscellaneous. Headings are given to the articles and sections of this
Plan solely as a convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction of this Plan or any provisions hereof. The use of the masculine gender shall also include within its meaning
the feminine. Wherever the context of this Plan dictates, the use of the singular shall also include within its meaning the plural, and vice versa. 

IN WITNESS WHEREOF, this Plan has been executed on this 9th day of August, 2017. 

 

			
	CHAPARRAL ENERGY, INC.
		
	By:	 	/s/ K. Earl Reynolds
		 	K. Earl Reynolds
		 	President and Chief Executive Officer

  
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