SEC Contract Filing

Filing Date: 2021-01-21

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Soma Somasundaram</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">President&nbsp;&amp;
CEO</P></TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Phone: <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">281-602-2164</FONT></FONT> (O)</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4.00em; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">630-400-2379(M)</FONT></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Email: SomaS@championx.com</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">January&nbsp;15, 2021 </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Via <FONT
STYLE="white-space:nowrap">e-mail</FONT> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Kenneth&nbsp;M. Fisher </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Ken, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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<B> </B>of ChampionX Corporation (the &#147;<U>Company</U>&#148;). In this position, you will be reporting to me. As discussed, your start date will be
February&nbsp;1, 2021 or an earlier date mutually agreed upon between you and the Company (the date on which your employment commences, your &#147;<U>Start Date</U>&#148;). Your principal place of employment will be at the Company&#146;s office in
The Woodlands, Texas, subject to reasonable business travel as may be required to perform your duties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following is a summary of your eligible
compensation and benefits for this position, subject to the terms of this offer letter (the &#147;<U>Offer Letter</U>&#148;) and the applicable plans or policies in effect from time to time: </P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><U>Annual Base Salary</U>. During your employment with the Company, you will receive an annualized base salary of
$590,000 (&#147;<U>Base Salary</U>&#148;), less applicable taxes and other withholdings, payable in accordance with the Company&#146;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&#146;s Board of Directors (the &#147;<U>Committee</U>&#148;). </P></TD></TR></TABLE>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><U>Target Annual Performance Bonus</U>. For each fiscal year during your employment with the Company, you will be
eligible to earn a discretionary annual performance bonus (&#147;<U>Annual Bonus</U>&#148;), targeted at 90% of your Base Salary (the &#147;<U>Target Bonus</U>&#148;), 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 &#147;<U>Bonus Plan</U>&#148;) as in effect from time to time.
Your 2021 Annual Bonus will be <FONT STYLE="white-space:nowrap">pro-rated.</FONT> 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 i