<SEC-DOCUMENT>0001562762-20-000236.txt : 20200630
<SEC-HEADER>0001562762-20-000236.hdr.sgml : 20200630
<ACCEPTANCE-DATETIME>20200630155012
ACCESSION NUMBER:		0001562762-20-000236
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		9
CONFORMED PERIOD OF REPORT:	20200630
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Submission of Matters to a Vote of Security Holders
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200630
DATE AS OF CHANGE:		20200630

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VAALCO ENERGY INC /DE/
		CENTRAL INDEX KEY:			0000894627
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				760274813
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32167
		FILM NUMBER:		201002261

	BUSINESS ADDRESS:	
		STREET 1:		9800 RICHMOND AVE.
		STREET 2:		SUITE 700
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77042
		BUSINESS PHONE:		713-623-0801

	MAIL ADDRESS:	
		STREET 1:		9800 RICHMOND AVE.
		STREET 2:		SUITE 700
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77042
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>egy-20200630x8k.htm
<DESCRIPTION>8-K
<TEXT>
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		<title>
			Form 8-K - Annual Board Meeting
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	<body><div style="margin-left:72pt;margin-right:72pt;">
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			<a name="_GoBack"></a><font style="display: inline;color:#000000;font-size:2pt;">&nbsp;</font>
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		<p style="margin:4pt 0pt 0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 18pt">
			<font style="display: inline;font-weight:bold;color:#000000;font-size:18pt;">UNITED STATES </font>
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		<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 18pt">
			<font style="display: inline;font-weight:bold;color:#000000;font-size:18pt;">SECURITIES AND EXCHANGE COMMISSION </font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 12pt">
			<font style="display: inline;font-weight:bold;color:#000000;">Washington, D.C. 20549 </font>
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		<p style="margin:0pt 0pt 2pt;border-bottom:1pt solid #000000 ;text-align:center;font-family:Times New Roman;color:#000000;font-size: 12pt">
			<font style="display: inline;color:#000000;">&nbsp; &nbsp;</font>
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		<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 18pt">
			<font style="display: inline;font-weight:bold;color:#000000;font-size:18pt;">FORM 8-K </font><font style="display: inline;color:#000000;font-size:18pt;">&nbsp; &nbsp;</font>
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		<p style="margin:0pt;border-bottom:1pt solid #000000 ;text-align:center;font-family:Times New Roman;color:#000000;font-size: 12pt">
			<font style="display: inline;color:#000000;">&nbsp; &nbsp;</font>
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		<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 12pt">
			<font style="display: inline;font-weight:bold;color:#000000;">CURRENT REPORT </font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 12pt">
			<font style="display: inline;font-weight:bold;color:#000000;">Pursuant to Section&nbsp;13 or 15(d) </font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 12pt">
			<font style="display: inline;font-weight:bold;color:#000000;">of the Securities Exchange Act of 1934 </font>
		</p>
		<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 12pt">
			<font style="display: inline;font-weight:bold;color:#000000;">Date of Report (D</font><font style="display: inline;font-weight:bold;color:#000000;">a</font><font style="display: inline;font-weight:bold;color:#000000;">te </font><font style="display: inline;font-weight:bold;color:#000000;">of</font><font style="display: inline;font-weight:bold;color:#000000;"> earliest reported): </font><font style="display: inline;font-weight:bold;color:#000000;">June</font><font style="display: inline;font-weight:bold;color:#000000;">&nbsp;</font><font style="display: inline;font-weight:bold;color:#000000;">25</font><font style="display: inline;font-weight:bold;color:#000000;">, 20</font><font style="display: inline;font-weight:bold;color:#000000;">20</font><font style="display: inline;color:#000000;">&nbsp;</font>
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		<p style="margin:0pt 0pt 2pt;border-bottom:1pt solid #000000 ;text-align:center;font-family:Times New Roman;color:#000000;font-size: 12pt">
			<font style="display: inline;color:#000000;">&nbsp; &nbsp;</font>
		</p>
		<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 24pt">
			<font style="display: inline;font-weight:bold;color:#000000;font-size:24pt;">VAALCO Energy, Inc. </font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 10pt">
			<font style="display: inline;font-weight:bold;color:#000000;font-size:10pt;">(Exact name of registrant as specified in its charter) </font>
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			<font style="display: inline;color:#000000;">&nbsp; &nbsp;</font>
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						&nbsp;</p>
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						&nbsp;</p>
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						<font style="display: inline;color:#000000;font-size:1pt;">&nbsp; &nbsp;</font></p>
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						&nbsp;</p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 8pt">
						<font style="display: inline;font-weight:bold;color:#000000;font-size:8pt;">Delaware</font></p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 8pt">
						<font style="display: inline;font-weight:bold;color:#000000;font-size:8pt;">001-32167</font></p>
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						<font style="display: inline;">&nbsp;</font></p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 8pt">
						<font style="display: inline;font-weight:bold;color:#000000;font-size:8pt;">76-0274813</font></p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 8pt">
						<font style="display: inline;font-weight:bold;color:#000000;font-size:8pt;">(State or other jurisdiction</font></p>
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 8pt">
						<font style="display: inline;font-weight:bold;color:#000000;font-size:8pt;">of incorporation)</font></p>
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					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 8pt">
						<font style="display: inline;">&nbsp;</font></p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 8pt">
						<font style="display: inline;font-weight:bold;color:#000000;font-size:8pt;">(Commission</font></p>
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 8pt">
						<font style="display: inline;font-weight:bold;color:#000000;font-size:8pt;">File Number)</font></p>
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					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 8pt">
						<font style="display: inline;">&nbsp;</font></p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 8pt">
						<font style="display: inline;font-weight:bold;color:#000000;font-size:8pt;">(IRS Employer</font></p>
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 8pt">
						<font style="display: inline;font-weight:bold;color:#000000;font-size:8pt;">Identification No.)</font></p>
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					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 8pt">
						<font style="display: inline;color:#000000;font-size:8pt;">&#xFEFF;</font></p>
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				<td colspan="2" valign="middle" style="width:33.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 1pt">
						<font style="display: inline;">&nbsp;</font></p>
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				<td colspan="3" valign="top" style="width:67.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 8pt">
						<font style="display: inline;font-weight:bold;color:#000000;font-size:8pt;">9800 Richmond Avenue, Suite 700</font></p>
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 8pt">
						<font style="display: inline;font-weight:bold;color:#000000;font-size:8pt;">Houston, Texas</font></p>
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						<font style="display: inline;">&nbsp;</font></p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 8pt">
						<font style="display: inline;font-weight:bold;color:#000000;font-size:8pt;">77042</font></p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 8pt">
						<font style="display: inline;font-weight:bold;color:#000000;font-size:8pt;">(Address of principal executive offices)</font></p>
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						<font style="display: inline;">&nbsp;</font></p>
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					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 8pt">
						<font style="display: inline;font-weight:bold;color:#000000;font-size:8pt;">(Zip Code)</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 12pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 8pt">
			<font style="display: inline;color:#000000;font-size:8pt;">&#xFEFF; &nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 8pt">
			<font style="display: inline;font-weight:bold;color:#000000;font-size:8pt;">Registrant&#x2019;s telephone number, including area code: (713)&nbsp;623-0801 </font>
		</p>
		<p style="margin:6pt 0pt 0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 8pt">
			<font style="display: inline;font-weight:bold;color:#000000;font-size:8pt;">Not Applicable </font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 8pt">
			<font style="display: inline;font-weight:bold;color:#000000;font-size:8pt;">(Former Name or former address if changed since last report.) </font>
		</p>
		<p style="margin:0pt 0pt 2pt;border-bottom:1pt solid #000000 ;text-align:center;font-family:Times New Roman;color:#000000;font-size: 12pt">
			<font style="display: inline;color:#000000;">&nbsp; &nbsp;</font>
		</p>
		<p style="margin:12pt 0pt 0pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
			<font style="display: inline;color:#000000;font-size:10pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 6pt">
			<font style="display: inline;color:#000000;font-size:6pt;">&nbsp; &nbsp;</font>
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					<p style="margin:0pt;font-family:Times New Roman;color:#000000;height:1.00pt;overflow:hidden;font-size: 1pt">
						<font style="display: inline;font-size:1pt;">&#xFEFF;</font></p>
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					<p style="margin:0pt;font-family:Times New Roman;color:#000000;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
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			</tr>
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					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;font-family:MS Mincho;color:#000000;font-size:10pt;">&#x2610;</font></p>
				</td>
				<td valign="top" style="width:96.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;color:#000000;font-size:10pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:04.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;font-family:MS Mincho;color:#000000;font-size:10pt;">&#x2610;</font></p>
				</td>
				<td valign="top" style="width:96.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;color:#000000;font-size:10pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:04.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;font-family:MS Mincho;color:#000000;font-size:10pt;">&#x2610;</font></p>
				</td>
				<td valign="top" style="width:96.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;color:#000000;font-size:10pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:04.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;font-family:MS Mincho;color:#000000;font-size:10pt;">&#x2610;</font></p>
				</td>
				<td valign="top" style="width:96.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;color:#000000;font-size:10pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 6pt">
			<font style="display: inline;color:#000000;font-size:6pt;">&nbsp; &nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">Securities registered pursuant to Section 12(b) of the Act:</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 6pt">
			<font style="display: inline;color:#000000;font-size:6pt;">&nbsp; &nbsp;</font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:32.42%;padding:0pt 3.6pt 0pt 3.6pt;height:1.00pt">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;height:1.00pt;overflow:hidden;font-size: 12pt">
						<font style="display: inline;">&#xFEFF;</font></p>
				</td>
				<td valign="bottom" style="width:26.78%;padding:0pt 3.6pt 0pt 3.6pt;height:1.00pt">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:40.80%;padding:0pt 3.6pt 0pt 3.6pt;height:1.00pt">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:32.42%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt 3.6pt 0pt 3.6pt;height:14.00pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">Title of each class</font></p>
				</td>
				<td valign="bottom" style="width:26.78%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt 3.6pt 0pt 3.6pt;height:14.00pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">Trading Symbol(s)</font></p>
				</td>
				<td valign="bottom" style="width:40.80%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt 3.6pt 0pt 3.6pt;height:14.00pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">Name of each exchange on which registered</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:32.42%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt 3.6pt 0pt 3.6pt;height:14.00pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">Common Stock, par value $0.10</font></p>
				</td>
				<td valign="bottom" style="width:26.78%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt 3.6pt 0pt 3.6pt;height:14.00pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">EGY</font></p>
				</td>
				<td valign="bottom" style="width:40.80%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt 3.6pt 0pt 3.6pt;height:14.00pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">New York Stock Exchange</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:32.42%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt 3.6pt 0pt 3.6pt;height:14.00pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">Common Stock, par value $0.10</font></p>
				</td>
				<td valign="bottom" style="width:26.78%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt 3.6pt 0pt 3.6pt;height:14.00pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">EGY</font></p>
				</td>
				<td valign="bottom" style="width:40.80%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt 3.6pt 0pt 3.6pt;height:14.00pt">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">London Stock Exchange</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
			<font style="display: inline;color:#000000;font-size:10pt;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
			<font style="display: inline;color:#000000;font-size:10pt;">Indicate</font><font style="display: inline;color:#000000;font-size:10pt;"> by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933(&#xA7;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#xA7;240.12b-2 of this chapter</font><font style="display: inline;color:#000000;font-size:10pt;">).</font>
		</p>
		<p style="margin:0pt;text-align:right;font-family:Times New Roman;color:#000000;font-size: 10pt">
			<font style="display: inline;color:#000000;font-size:10pt;">Emerging</font><font style="display: inline;">&nbsp;</font><font style="display: inline;color:#000000;font-size:10pt;">growth</font><font style="display: inline;color:#000000;font-size:10pt;">&nbsp;company&nbsp;</font><font style="display: inline;font-family:MS Mincho;color:#000000;font-size:10pt;">&#x2610;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 10pt">
			<font style="display: inline;color:#000000;font-size:10pt;">If an&nbsp;</font><font style="display: inline;color:#000000;font-size:10pt;">emerging</font><font style="display: inline;">&nbsp;</font><font style="display: inline;color:#000000;font-size:10pt;">growth</font><font style="display: inline;color:#000000;font-size:10pt;">&nbsp;company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&nbsp;</font><font style="display: inline;font-family:MS Mincho;color:#000000;font-size:10pt;">&#x2610;</font>
		</p>
		<p><font size="1"> </font></p><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;;font-size: 10pt"><font style="display: inline;font-family:MS Mincho;color:#000000;font-size:10pt;"></font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 11pt">
			<font style="display: inline;font-size:11pt;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 8pt 72pt;text-indent: -72pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 11pt">
			<font style="display: inline;font-weight:bold;font-size:11pt;">Item 5.02</font><font style="display: inline;font-weight:bold;font-size:11pt;;font-size: 11pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 42.3pt 0pt 0pt;"></font><font style="display: inline;font-weight:bold;font-size:11pt;">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</font>
		</p>
		<p style="margin:12pt 0pt 8pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 11pt">
			<font style="display: inline;font-weight:bold;font-style:italic;font-size:11pt;">Appointment of New Director </font>
		</p>
		<p style="margin:0pt 0pt 8pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 11pt">
			<font style="display: inline;font-size:11pt;">On June 25, 2020, the Board of Directors (the &#x201C;</font><font style="display: inline;font-weight:bold;font-style:italic;font-size:11pt;">Board</font><font style="display: inline;font-size:11pt;">&#x201D;) of VAALCO Energy, Inc. (the &#x201C;</font><font style="display: inline;font-weight:bold;font-style:italic;font-size:11pt;">Company</font><font style="display: inline;font-size:11pt;">&#x201D;) appointed Bradley L. Radoff to serve on the Board. Mr. Radoff will serve as the designee of Group 42, Inc., Paul A. Bell, Michael Keane, BLR Partners LP, BLRPart, LP, BLRGP Inc., Fondren Management, LP, FMLP Inc., The Radoff Family Foundation and Bradley L. Radoff (collectively, the &#x201C;</font><font style="display: inline;font-weight:bold;font-style:italic;font-size:11pt;">Group 42-BLR Group</font><font style="display: inline;font-size:11pt;">&#x201D;), in accordance with the terms of the Settlement Agreement dated December 22, 2015 between the Company and the Group 42-BLR Group (the &#x201C;</font><font style="display: inline;font-weight:bold;font-style:italic;font-size:11pt;">Settlement Agreement</font><font style="display: inline;font-size:11pt;">&#x201D;). Pursuant to the Settlement Agreement, the Company agreed to nominate a Group 42-BLR Group designee to the Board at each stockholder meeting, or otherwise appoint a Group 42-BLR Group designee to the Board to replace a prior designee who ceased to be a director for any reason, until the Group 42-BLR Group ceases to own 5% or more of the issued and outstanding shares of Company common stock or until the Settlement Agreement is otherwise terminated. </font>
		</p>
		<p style="margin:0pt 0pt 8pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 11pt">
			<font style="display: inline;font-size:11pt;">Mr. Radoff will serve on the Audit Committee and the Strategic Committee. Mr. Radoff will be entitled to receive the standard compensation package for the Company&#x2019;s non-employee directors, which is described in the Company&#x2019;s Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on April 29, 2020 (the &#x201C;</font><font style="display: inline;font-weight:bold;font-style:italic;font-size:11pt;">Proxy Statement</font><font style="display: inline;font-size:11pt;">&#x201D;). On June 25, 2020, the Compensation Committee awarded 65,041 restricted shares to Mr. Radoff under the 2020 LTIP (as defined below) and pursuant to the terms of the Director RSA Agreement (as defined below). </font>
		</p>
		<p style="margin:0pt 0pt 8pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 11pt">
			<font style="display: inline;font-family:Times;font-size:11pt;">Mr. Radoff has served as Principal of Fondren Management LP, a private investment management company, since January 2005. Mr. Radoff previously served as a Portfolio Manager at Third Point LLC and as a Managing Director of Lonestar Capital Management LLC. Mr. Radoff currently serves as a director on the board of Support.com and previously served on the board of Pogo Producing Company from March 2007 to November 2007 prior to its sale to Plains Exploration. Mr. Radoff graduated summa cum laude with a B.S. in Economics from The Wharton School, University of Pennsylvania. </font>
		</p>
		<p style="margin:0pt 0pt 8pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 11pt">
			<font style="display: inline;font-size:11pt;">There are no transactions to which the Company or any of its subsidiaries is a party and in which Mr. Radoff has a direct or indirect material interest subject to disclosure under Item 404(a) of Regulation S-K.</font>
		</p>
		<p style="margin:12pt 0pt 8pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 11pt">
			<font style="display: inline;font-weight:bold;font-style:italic;font-size:11pt;">2020 Long Term Incentive Plan and Related Form Award Agreements</font>
		</p>
		<p style="margin:0pt 0pt 8pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 11pt">
			<font style="display: inline;font-size:11pt;">As described in Item 5.07 of this Current Report on Form 8-K (this &#x201C;</font><font style="display: inline;font-weight:bold;font-style:italic;font-size:11pt;">Current Report</font><font style="display: inline;font-size:11pt;">&#x201D;), on June 25, 2020, at the 2020 Annual Meeting of Stockholders of the Company (the &#x201C;</font><font style="display: inline;font-weight:bold;font-style:italic;font-size:11pt;">Annual Meeting</font><font style="display: inline;font-size:11pt;">&#x201D;), the Company&#x2019;s stockholders approved the VAALCO Energy, Inc. 2020 Long Term Incentive Plan (the &#x201C;</font><font style="display: inline;font-weight:bold;font-style:italic;font-size:11pt;">2020 LTIP</font><font style="display: inline;font-size:11pt;">&#x201D;). A description of the material terms of the 2020 LTIP was included under the heading &#x201C;Proposal No. 4&#x2014;Approval of the VAALCO Energy, Inc. 2020 Long Term Incentive Plan&#x201D; in the Proxy Statement. Such description is qualified in its entirety by reference to the full text of the 2020 LTIP, </font><font style="display: inline;font-size:11pt;">see</font><font style="display: inline;font-size:11pt;"> Exhibit 10.1 to this Current Report</font><font style="display: inline;font-size:11pt;"> for further information</font><font style="display: inline;font-size:11pt;">.</font>
		</p>
		<p style="margin:0pt 0pt 8pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 11pt">
			<font style="display: inline;font-size:11pt;">On June 25, 2020, the Company adopted (i) a form of Restricted Stock Award Agreement for directors of the Company (the &#x201C;</font><font style="display: inline;font-weight:bold;font-style:italic;font-size:11pt;">Director RSA Agreement</font><font style="display: inline;font-size:11pt;">&#x201D;), (ii) a form of Restricted Stock Award Agreement for employees of the Company, including executive officers (the &#x201C;</font><font style="display: inline;font-weight:bold;font-style:italic;font-size:11pt;">Employee RSA Agreement</font><font style="display: inline;font-size:11pt;">&#x201D;) and (iii) a form of Nonqualified Stock Option Agreement for the Company&#x2019;s executive officers (the &#x201C;</font><font style="display: inline;font-weight:bold;font-style:italic;font-size:11pt;">Stock Option Agreement</font><font style="display: inline;font-size:11pt;">&#x201D; and, collectively with the Director RSA Agreement and the Employee RSA Agreement, the &#x201C;</font><font style="display: inline;font-weight:bold;font-style:italic;font-size:11pt;">Award Agreements</font><font style="display: inline;font-size:11pt;">&#x201D;), in each case under the 2020 LTIP. </font>
		</p>
		<p style="margin:0pt 0pt 8pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 11pt">
			<font style="display: inline;font-size:11pt;">Pursuant to the Director RSA Agreement, all restricted shares will become fully vested on the earlier of (i) the first anniversary of the date of grant and (ii) the first annual meeting of stockholders following the date of grant (but not less than fifty (50) weeks following the date of grant), provided that the </font>
		</p>
		<p><font size="1"> </font></p><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 8pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 11pt"><font style="display: inline;font-size:11pt;">director then is, and continuously from the date of grant has been, a director and there has not been a Termination of Service (as defined in the 2020 LTIP) before the applicable vesting date. The restricted shares will automatically become 100% vested as of the date of a Change in Control (as defined in the 2020 LTIP) or upon a Termination of Service due to the director&#x2019;s death or Total and Permanent Disability (as defined in the 2020 LTIP). If the director incurs a Termination of Service from the Board for any reason other than the director&#x2019;s death or Total and Permanent Disability, and prior to the earlier of (x) the completion of the director&#x2019;s current term and (y) the first anniversary of the date of grant, any unvested restricted shares will be forfeited.</font>
		</p>
		<p style="margin:0pt 0pt 8pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 11pt">
			<font style="display: inline;font-size:11pt;">Pursuant to the Employee RSA Agreement, restricted shares will vest in three equal tranches over a three-year period, with the first tranche vesting on the first anniversary of the date of grant and the remaining tranches vesting on subsequent anniversaries of such date, in each case provided that the employee then is, and continuously from the date of grant has been, an employee of the Company and there has not been a Termination of Service before the applicable vesting date. Notwithstanding the foregoing vesting schedule, all unvested restricted shares will automatically become 100% vested as of the date of a Change in Control or upon a Termination of Service that is due to (i) the employee&#x2019;s death or Total and Permanent Disability or (ii) the employee&#x2019;s Retirement (as defined in the 2020 LTIP) at or after attaining (A) age 65 and (B) at least 10 years of employment service to the Company (&#x201C;</font><font style="display: inline;font-weight:bold;font-style:italic;font-size:11pt;">Qualified Retirement</font><font style="display: inline;font-size:11pt;">&#x201D;). Upon a Termination of Service due to the employee&#x2019;s Retirement at or after attaining age 65 but without 10 years of employment service to the Company (&#x201C;</font><font style="display: inline;font-weight:bold;font-style:italic;font-size:11pt;">Unqualified Retirement</font><font style="display: inline;font-size:11pt;">&#x201D;), any unvested restricted shares will immediately terminate, and no further vesting will occur.&nbsp;&nbsp;If the employee incurs a Termination of Service for any reason other than Retirement, death or Total and Permanent Disability, any unvested restricted shares will be forfeited. </font>
		</p>
		<p style="margin:0pt 0pt 8pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 11pt">
			<font style="display: inline;font-size:11pt;">Pursuant to the Stock Option Agreement, options will vest according to the following schedule, provided that the employee remains employed by the Company on the applicable vesting date: (i) options for one-third of the shares covered by the applicable Stock Option Agreement will vest on the later of (A)&nbsp;the first anniversary of the date of grant and (B) the date on which the Company&#x2019;s stock price, determined using a 30-day average, has appreciated 15% from the stock price on the date of grant; (ii)&nbsp;options for one-third of the shares covered by the applicable Stock Option Agreement will vest on the later of (A)&nbsp;the second anniversary of the date of grant and (B) the date on which the Company&#x2019;s stock price, determined using a 30-day average, has appreciated 32.5% from the stock price on the date of grant; and (iii) options for the remaining one-third of the shares covered by the applicable Stock Option Agreement will vest on the later of (A)&nbsp;the third anniversary of the date of grant and (B) the date on which the Company&#x2019;s stock price, determined using a 30-day average, has appreciated 52.5% from the stock price on the date of grant. Notwithstanding the foregoing vesting schedule, pursuant to the Stock Option Agreement, all options will become 100% vested as of the date of (x) a Change in Control, (y) the employee&#x2019;s Termination of Service due to death or Total and Permanent Disability or (z)&nbsp;the employee&#x2019;s Termination of Service due to Qualified Retirement. Upon a Termination of Service due to Unqualified Retirement, any unvested options will immediately terminate, and no further vesting will occur. The entire option, including any vested portion thereof, will expire and terminate on the date of a Termination of Service for Cause (as defined in the Stock Option Agreement). In the case of a Termination of Service due to death or Total and Permanent Disability, any vested options will expire on the one-year anniversary of such Termination of Service. In the case of a Termination of Service due to Retirement, any vested options will expire six months after the date of such Termination of Service. If the employee incurs a Termination of Service for any reason other than Cause, Retirement, death or Total and Permanent Disability, then any unvested options will immediately expire on the date of such Termination of Service and any vested options will expire to the extent not exercised within 120 days after such Termination of Service.</font>
		</p>
		<p style="margin:0pt 0pt 8pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 11pt">
			<font style="display: inline;font-size:11pt;">In connection with the adoption of the Award Agreements, on June 25, 2020 the Compensation Committee awarded (i) restricted shares and stock options to the Company&#x2019;s executive officers under the 2020 LTIP and pursuant to the Employee RSA Agreement and the Stock Option Agreement, respectively, and (ii) restricted shares to the Company&#x2019;s directors under the 2020 LTIP and pursuant to the Director RSA Agreement.</font>
		</p>
		<p style="margin:0pt 0pt 8pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 11pt">

		</p>
		<p><font size="1"> </font></p><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 8pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;;font-size: 11pt"><font style="display: inline;font-size:11pt;">The foregoing descriptions of the Award Agreements are qualified in their entirety by reference to the full text of the Director RSA Agreement, the Employee RSA Agreement and the Stock Option Agreement, copies of which are attached as Exhibits 10.2, 10.3 and 10.4, respectively, to this Current Report and are incorporated herein by reference. </font>
		</p>
		<p style="margin:12pt 0pt 8pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 11pt">
			<font style="display: inline;font-weight:bold;font-size:11pt;">Item 5.07</font><font style="display: inline;font-weight:bold;font-size:11pt;;font-size: 11pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-weight:bold;font-size:11pt;">Submission of Matters to a Vote of Security Holders.</font>
		</p>
		<p style="margin:0pt 0pt 8pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 11pt">
			<font style="display: inline;font-size:11pt;">The Company held the Annual Meeting on June 25, 2020. A total of 47,549,151 shares of the Company&#x2019;s common stock were present in person or represented by proxy at the Annual Meeting. The matters submitted for a vote and the related results are set forth below. A more detailed description of each proposal was included in the Proxy Statement.</font>
		</p>
		<p style="margin:12pt 0pt 8pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 11pt">
			<font style="display: inline;font-weight:bold;font-size:11pt;">Proposal No. 1</font><font style="display: inline;font-size:11pt;">: Election of four directors, each to serve for a one-year term </font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="middle" style="width:24.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;height:1.00pt;overflow:hidden;font-size: 1pt">
						<font style="display: inline;font-size:1pt;">&#xFEFF;</font></p>
				</td>
				<td valign="middle" style="width:25.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:24.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:25.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="middle" style="width:24.86%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-weight:bold;font-size:11pt;text-decoration:underline;">Nominee</font></p>
				</td>
				<td valign="middle" style="width:25.10%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-weight:bold;font-size:11pt;text-decoration:underline;">Votes Cast For</font></p>
				</td>
				<td valign="middle" style="width:24.94%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-weight:bold;font-size:11pt;text-decoration:underline;">Votes Withheld</font></p>
				</td>
				<td valign="middle" style="width:25.12%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-weight:bold;font-size:11pt;text-decoration:underline;">Broker Non-Votes</font></p>
				</td>
			</tr>
			<tr>
				<td valign="middle" style="width:24.86%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-size:11pt;">Cary M. Bounds</font></p>
				</td>
				<td valign="middle" style="width:25.10%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-size:11pt;">26,316,977</font></p>
				</td>
				<td valign="middle" style="width:24.94%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-size:11pt;">3,616,000</font></p>
				</td>
				<td valign="middle" style="width:25.12%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-size:11pt;">17,616,174</font></p>
				</td>
			</tr>
			<tr>
				<td valign="middle" style="width:24.86%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-size:11pt;">Andrew L. Fawthrop</font></p>
				</td>
				<td valign="middle" style="width:25.10%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-size:11pt;">25,557,601</font></p>
				</td>
				<td valign="middle" style="width:24.94%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-size:11pt;">4,375,376</font></p>
				</td>
				<td valign="middle" style="width:25.12%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-size:11pt;">17,616,174</font></p>
				</td>
			</tr>
			<tr>
				<td valign="middle" style="width:24.86%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-size:11pt;">George Maxwell</font></p>
				</td>
				<td valign="middle" style="width:25.10%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-size:11pt;">26,128,131</font></p>
				</td>
				<td valign="middle" style="width:24.94%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-size:11pt;">3,804,846</font></p>
				</td>
				<td valign="middle" style="width:25.12%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-size:11pt;">17,616,174</font></p>
				</td>
			</tr>
			<tr>
				<td valign="middle" style="width:24.86%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-size:11pt;">Cathy Stubbs</font></p>
				</td>
				<td valign="middle" style="width:25.10%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-size:11pt;">26,140,552</font></p>
				</td>
				<td valign="middle" style="width:24.94%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-size:11pt;">3,792,425</font></p>
				</td>
				<td valign="middle" style="width:25.12%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-size:11pt;">17,616,174</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:12pt 0pt 8pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 11pt">
			<font style="display: inline;font-weight:bold;font-size:11pt;">Proposal No. 2</font><font style="display: inline;font-size:11pt;">: Ratification of the appointment of BDO USA, LLP as the Company&#x2019;s independent registered public accounting firm for the fiscal year ending December 31, 2020</font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="middle" style="width:25.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;height:1.00pt;overflow:hidden;font-size: 1pt">
						<font style="display: inline;font-size:1pt;">&#xFEFF;</font></p>
				</td>
				<td valign="middle" style="width:25.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:49.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="middle" style="width:25.00%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-weight:bold;font-size:11pt;text-decoration:underline;">Votes Cast For</font></p>
				</td>
				<td valign="middle" style="width:25.96%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-weight:bold;font-size:11pt;text-decoration:underline;">Votes Cast Against </font></p>
				</td>
				<td valign="middle" style="width:49.04%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-weight:bold;font-size:11pt;text-decoration:underline;">Abstentions</font></p>
				</td>
			</tr>
			<tr>
				<td valign="middle" style="width:25.00%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-size:11pt;">44,313,155</font></p>
				</td>
				<td valign="middle" style="width:25.96%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-size:11pt;">2,678,593</font></p>
				</td>
				<td valign="middle" style="width:49.04%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-size:11pt;">557,403</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:12pt 0pt 8pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 11pt">
			<font style="display: inline;font-weight:bold;font-size:11pt;">Proposal No. 3</font><font style="display: inline;font-size:11pt;">: Approval, on an advisory basis, of the compensation of the Company&#x2019;s named executive officers</font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="middle" style="width:25.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;height:1.00pt;overflow:hidden;font-size: 1pt">
						<font style="display: inline;font-size:1pt;">&#xFEFF;</font></p>
				</td>
				<td valign="middle" style="width:25.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:24.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:24.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="middle" style="width:25.50%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-weight:bold;font-size:11pt;text-decoration:underline;">Votes Cast For</font></p>
				</td>
				<td valign="middle" style="width:25.88%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-weight:bold;font-size:11pt;text-decoration:underline;">Votes Cast Against</font></p>
				</td>
				<td valign="middle" style="width:24.42%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-weight:bold;font-size:11pt;text-decoration:underline;">Abstentions</font></p>
				</td>
				<td valign="top" style="width:24.20%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-weight:bold;font-size:11pt;text-decoration:underline;">Broker Non-Votes</font></p>
				</td>
			</tr>
			<tr>
				<td valign="middle" style="width:25.50%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-size:11pt;">24,698,028</font></p>
				</td>
				<td valign="middle" style="width:25.88%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-size:11pt;">5,104,775</font></p>
				</td>
				<td valign="middle" style="width:24.42%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-size:11pt;">130,174</font></p>
				</td>
				<td valign="middle" style="width:24.20%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-size:11pt;">17,616,174</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:12pt 0pt 8pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 11pt">
			<font style="display: inline;font-weight:bold;font-size:11pt;">Proposal No. 4</font><font style="display: inline;font-size:11pt;">: Approval of the 2020 LTIP</font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="middle" style="width:25.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;height:1.00pt;overflow:hidden;font-size: 1pt">
						<font style="display: inline;font-size:1pt;">&#xFEFF;</font></p>
				</td>
				<td valign="middle" style="width:25.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:24.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:24.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="middle" style="width:25.50%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-weight:bold;font-size:11pt;text-decoration:underline;">Votes Cast For</font></p>
				</td>
				<td valign="middle" style="width:25.88%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-weight:bold;font-size:11pt;text-decoration:underline;">Votes Cast Against</font></p>
				</td>
				<td valign="middle" style="width:24.42%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-weight:bold;font-size:11pt;text-decoration:underline;">Abstentions</font></p>
				</td>
				<td valign="top" style="width:24.20%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-weight:bold;font-size:11pt;text-decoration:underline;">Broker Non-Votes</font></p>
				</td>
			</tr>
			<tr>
				<td valign="middle" style="width:25.50%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-size:11pt;">25,728,799</font></p>
				</td>
				<td valign="middle" style="width:25.88%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-size:11pt;">4,088,386</font></p>
				</td>
				<td valign="middle" style="width:24.42%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-size:11pt;">115,792</font></p>
				</td>
				<td valign="middle" style="width:24.20%;border-top:1pt solid #000000 ;border-left:1pt solid #000000 ;border-bottom:1pt solid #000000 ;border-right:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 11pt">
						<font style="display: inline;font-size:11pt;">17,616,174</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:12pt 0pt 8pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 11pt">
			<font style="display: inline;font-size:11pt;">Each of the proposals acted upon by the Company&#x2019;s stockholders at the Annual Meeting was approved by the requisite vote. </font>
		</p>
		<p style="margin:0pt 0pt 8pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 11pt">
			<font style="display: inline;font-weight:bold;font-size:11pt;">Item 7.01. </font><font style="display: inline;font-weight:bold;font-size:11pt;;font-size: 11pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-weight:bold;font-size:11pt;">Regulation FD Disclosure. </font>
		</p>
		<p style="margin:0pt 0pt 8pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 11pt">
			<font style="display: inline;font-size:11pt;">On June 25, 2020, the Company issued a press release announcing the election of George Maxwell and Cathy Stubbs to the Board at the Annual Meeting, the respective committee and committee chairperson appointments for Ms. Stubbs and Mr. Maxwell, and the appointment of Mr. Radoff to the Board. A copy of the press release is furnished as Exhibit 99.1 to this Current Report and incorporated herein by reference. </font>
		</p>
		<p style="margin:0pt 0pt 8pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 11pt">
			<font style="display: inline;font-size:11pt;">The information in Item 7.01 of this Current Report (including Exhibit 99.1) is being furnished pursuant to Item 7.01 and shall not be deemed to be &#x201C;filed&#x201D; for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the &#x201C;</font><font style="display: inline;font-weight:bold;font-style:italic;font-size:11pt;">Exchange Act</font><font style="display: inline;font-size:11pt;">&#x201D;), or otherwise be subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 12pt">

		</p>
		<p><font size="1"> </font></p><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;;font-size: 12pt"><font style="display: inline;font-weight:bold;font-size:10pt;">Item 9.01. </font><font style="display: inline;font-weight:bold;font-size:10pt;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-weight:bold;font-size:10pt;">Financial Statements and Exhibits</font><font style="display: inline;font-weight:bold;font-size:10pt;">.</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;color:#000000;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">(d) Exhibits</font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:13.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 2.4pt 0pt 3.6pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 1pt">
						<font style="display: inline;font-size:1pt;">&#xFEFF;</font></p>
				</td>
				<td valign="bottom" style="width:01.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 0pt 0pt 3.6pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 12pt">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:84.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 2.4pt 0pt 3.6pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 12pt">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:00.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 0pt 0pt 3.6pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 12pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:13.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt 2.4pt 0pt 3.6pt;">
					<p style="margin:0pt 2pt 0pt 3pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;font-weight:bold;color:#000000;font-size:10pt;">Exhibit No.</font></p>
				</td>
				<td valign="bottom" style="width:01.18%;padding:0pt 0pt 0pt 3.6pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 12pt">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:84.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt 2.4pt 0pt 3.6pt;">
					<p style="margin:0pt 3pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;font-weight:bold;color:#000000;font-size:10pt;">Description of Exhibit</font></p>
				</td>
				<td valign="bottom" style="width:00.86%;padding:0pt 0pt 0pt 3.6pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 12pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="middle" style="width:13.78%;background-color: #CCEEFF;padding:0pt 2.4pt 0pt 3.6pt;">
					<p style="margin:0pt 2pt 0pt 3pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">&#xFEFF;</font><a href="http://www.sec.gov/Archives/edgar/data/894627/000089462720000043/egy-20200429xdef14a.htm" style="-sec-extract:exhibit"><font style="display: inline;font-size:10pt;">10.1</font></a></p>
				</td>
				<td valign="middle" style="width:01.18%;background-color: #CCEEFF;padding:0pt 0pt 0pt 3.6pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 12pt">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:84.18%;background-color: #CCEEFF;padding:0pt 2.4pt 0pt 3.6pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;color:#000000;font-size:10pt;">VAALCO Energy, Inc. 2020 Long Term Incentive Plan</font><font style="display: inline;color:#000000;font-size:10pt;">&nbsp;</font><font style="display: inline;font-size:10pt;">(filed as Appendix B to the Company&#x2019;s Definitive Proxy Statement on Schedule 14A filed on April 29, 2020, and incorporated herein by reference)</font><font style="display: inline;color:#000000;font-size:10pt;">.</font></p>
				</td>
				<td valign="bottom" style="width:00.86%;padding:0pt 0pt 0pt 3.6pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 12pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="middle" style="width:13.78%;padding:0pt 2.4pt 0pt 3.6pt;">
					<p style="margin:0pt 2pt 0pt 3pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">&#xFEFF;</font><a href="egy-20200630xex10_2.htm" style="-sec-extract:exhibit"><font style="display: inline;font-size:10pt;">10.2</font></a></p>
				</td>
				<td valign="middle" style="width:01.18%;padding:0pt 0pt 0pt 3.6pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 12pt">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:84.18%;padding:0pt 2.4pt 0pt 3.6pt;">
					<p style="margin:0pt 2pt 0pt 3pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;color:#000000;font-size:10pt;">Form of Restricted Stock Award Agreement (Director)</font><font style="display: inline;font-size:10pt;">&nbsp;</font><font style="display: inline;color:#000000;font-size:10pt;">under the VAALCO Energy, Inc. 2020 Long Term Incentive Plan.</font></p>
				</td>
				<td valign="bottom" style="width:00.86%;padding:0pt 0pt 0pt 3.6pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 12pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="middle" style="width:13.78%;background-color: #CCEEFF;padding:0pt 2.4pt 0pt 3.6pt;">
					<p style="margin:0pt 2pt 0pt 3pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">&#xFEFF;</font><a href="egy-20200630xex10_3.htm" style="-sec-extract:exhibit"><font style="display: inline;font-size:10pt;">10.3</font></a></p>
				</td>
				<td valign="middle" style="width:01.18%;background-color: #CCEEFF;padding:0pt 0pt 0pt 3.6pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 12pt">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:84.18%;background-color: #CCEEFF;padding:0pt 2.4pt 0pt 3.6pt;">
					<p style="margin:0pt 2pt 0pt 3pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;color:#000000;font-size:10pt;">Form of</font><font style="display: inline;font-size:10pt;">&nbsp;</font><font style="display: inline;color:#000000;font-size:10pt;">Restricted Stock Award Agreement (Employee) under the VAALCO Energy, Inc. 2020 Long Term Incentive Plan.</font></p>
				</td>
				<td valign="bottom" style="width:00.86%;padding:0pt 0pt 0pt 3.6pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 12pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="middle" style="width:13.78%;padding:0pt 2.4pt 0pt 3.6pt;">
					<p style="margin:0pt 2pt 0pt 3pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">&#xFEFF;</font><a href="egy-20200630xex10_4.htm" style="-sec-extract:exhibit"><font style="display: inline;font-size:10pt;">10.4</font></a></p>
				</td>
				<td valign="middle" style="width:01.18%;padding:0pt 0pt 0pt 3.6pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 12pt">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:84.18%;padding:0pt 2.4pt 0pt 3.6pt;">
					<p style="margin:0pt 2pt 0pt 3pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;color:#000000;font-size:10pt;">Form of Nonqualified Stock Option Agreement under the VAALCO Energy, Inc. 2020 Long Term Incentive Plan.</font></p>
				</td>
				<td valign="bottom" style="width:00.86%;padding:0pt 0pt 0pt 3.6pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 12pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="middle" style="width:13.78%;background-color: #CCEEFF;padding:0pt 2.4pt 0pt 3.6pt;">
					<p style="margin:0pt 2pt 0pt 3pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">&#xFEFF;</font><a href="egy-20200630xex99_1.htm" style="-sec-extract:exhibit"><font style="display: inline;font-size:10pt;">99.1</font></a></p>
				</td>
				<td valign="middle" style="width:01.18%;background-color: #CCEEFF;padding:0pt 0pt 0pt 3.6pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 12pt">
						&nbsp;</p>
				</td>
				<td valign="middle" style="width:84.18%;background-color: #CCEEFF;padding:0pt 2.4pt 0pt 3.6pt;">
					<p style="margin:0pt 2pt 0pt 3pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;color:#000000;font-size:10pt;">Press release, dated </font><font style="display: inline;font-size:10pt;">June 25,</font><font style="display: inline;font-size:10pt;"> 2020</font><font style="display: inline;color:#000000;font-size:10pt;">, issued by VAALCO Energy, Inc. </font></p>
				</td>
				<td valign="bottom" style="width:00.86%;padding:0pt 0pt 0pt 3.6pt;">
					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 12pt">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 12pt">
			<font style="display: inline;color:#000000;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 8pt">

		</p>
		<p><font size="1"> </font></p><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt;font-family:Times New Roman;color:#000000;;font-size: 8pt"><font style="display: inline;color:#000000;font-size:8.5pt;"></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 10pt">
			<font style="display: inline;font-weight:bold;color:#000000;font-size:10pt;">SIGNATURE</font><font style="display: inline;color:#000000;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;color:#000000;font-size: 10pt">
			<font style="display: inline;color:#000000;font-size:10pt;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
			<font style="display: inline;color:#000000;font-size:10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
			<font style="display: inline;color:#000000;font-size:10pt;">&#xFEFF;</font>
		</p>
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					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;font-weight:bold;color:#000000;font-size:10pt;">VAALCO Energy, Inc.</font></p>
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					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;color:#000000;font-size:10pt;">(Registrant)</font></p>
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						&nbsp;</p>
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						&nbsp;</p>
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						&nbsp;</p>
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						&nbsp;</p>
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					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;color:#000000;font-size:10pt;">Date</font><font style="display: inline;color:#000000;font-size:10pt;">: June</font><font style="display: inline;color:#000000;font-size:10pt;">&nbsp;</font><font style="display: inline;color:#000000;font-size:10pt;">30</font><font style="display: inline;color:#000000;font-size:10pt;">, 20</font><font style="display: inline;color:#000000;font-size:10pt;">20</font></p>
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						&nbsp;</p>
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						&nbsp;</p>
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					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;color:#000000;font-size:10pt;">By:</font></p>
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					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;color:#000000;font-size:10pt;">/s/ Jason Doornik</font></p>
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						<font style="display: inline;color:#000000;font-size:10pt;">Name:&nbsp;</font></p>
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					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;color:#000000;font-size:10pt;">Jason Doornik</font></p>
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						<font style="display: inline;color:#000000;font-size:10pt;">&#xFEFF;</font></p>
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					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;color:#000000;font-size:10pt;">Title:</font></p>
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					<p style="margin:0pt;font-family:Times New Roman;color:#000000;font-size: 10pt">
						<font style="display: inline;color:#000000;font-size:10pt;">Chief Accounting</font><font style="display: inline;color:#000000;font-size:10pt;"> Officer</font><font style="display: inline;color:#000000;font-size:10pt;"> and Controller</font></p>
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<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>2
<FILENAME>egy-20200630xex10_2.htm
<DESCRIPTION>EX-10.2
<TEXT>
<!--HTML document created with Certent Disclosure Management 6.37.1.2-->
<!--Created on: 6/30/2020 1:29:21 PM-->
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	<head>
		<title>
			Exhibit 102
		</title>
	</head>
	<body><div style="margin-left:72pt;margin-right:72pt;"><div style="width:100%">

		<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;font-weight:bold;">Exhibit 10.2</font>

		</p>

		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;"><img src="egy-20200630xex10_2g001.jpg" style="width: 0.6145068in; height: 0.5207677in" alt="Picture 1"></font>

		</p>

		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

		<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div>
		<p style="margin:0pt 0pt 14pt;text-align:center;font-weight:bold;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 14pt">
			<a name="_GoBack"></a><font style="display: inline;">VAALCO ENERGY</font><font style="display: inline;">,</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">INC.</font><br /><font style="display: inline;"></font><font style="display: inline;">REST</font><font style="display: inline;">r</font><font style="display: inline;">ICTED </font><font style="display: inline;">STOCK AWARD AGREEMENT</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-weight:bold;">THIS STOCK </font><font style="display: inline;font-weight:bold;">AWARD </font><font style="display: inline;font-weight:bold;">AGREEMENT</font><font style="display: inline;"> (the </font><font style="display: inline;font-weight:bold;">&#x201C;Agreement&#x201D;</font><font style="display: inline;">) is made and entered into by and between </font><font style="display: inline;">VAALCO Energy</font><font style="display: inline;">,</font><font style="display: inline;"> Inc., a Delaware corporation (the </font><font style="display: inline;font-weight:bold;">&#x201C;Company&#x201D;</font><font style="display: inline;">) and </font><font style="display: inline;">________________</font><font style="display: inline;">,</font><font style="display: inline;"> an individual and </font><font style="display: inline;">independent </font><font style="display: inline;">director </font><font style="display: inline;">of the Company (</font><font style="display: inline;">the </font><font style="display: inline;font-weight:bold;">&#x201C;</font><font style="display: inline;font-weight:bold;">Participant</font><font style="display: inline;font-weight:bold;">&#x201D;</font><font style="display: inline;">), on the </font><font style="display: inline;">25</font><font style="display: inline;font-weight:bold;font-size:11.5pt;">&nbsp;</font><font style="display: inline;">day of </font><font style="display: inline;">June</font><font style="display: inline;">,</font><font style="display: inline;font-size:11.5pt;"> 20</font><font style="display: inline;font-size:11.5pt;">20</font><font style="display: inline;"> (the </font><font style="display: inline;font-weight:bold;">&#x201C;</font><font style="display: inline;font-weight:bold;">Date of Grant</font><font style="display: inline;font-weight:bold;">&#x201D;</font><font style="display: inline;">), subject to the </font><font style="display: inline;">VAALCO Energy</font><font style="display: inline;">,</font><font style="display: inline;"> Inc. 20</font><font style="display: inline;">20</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">Long Term Incentive </font><font style="display: inline;">Plan (the </font><font style="display: inline;font-weight:bold;">&#x201C;Plan&#x201D;</font><font style="display: inline;">).&nbsp;&nbsp;This Agreement is subject to the terms and conditions of the Plan, which is incorporated herein in its entirety by reference.&nbsp;&nbsp;A copy of the Plan has been made available to </font><font style="display: inline;">the Participant</font><font style="display: inline;">.&nbsp;&nbsp;Capitalized terms not otherwise defined in this Agreement shall have the meaning given to such terms in the Plan.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-weight:bold;">WHEREAS</font><font style="display: inline;">, &nbsp;</font><font style="display: inline;">the Participant</font><font style="display: inline;"> is</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">an</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">independent</font><font style="display: inline;"> Outside</font><font style="display: inline;"> Director</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">of the Company, and in connection therewith, the Company desires to </font><font style="display: inline;">grant </font><font style="display: inline;">r</font><font style="display: inline;">estricted </font><font style="display: inline;">s</font><font style="display: inline;">hares of the Company&#x2019;s Common Stock (the &#x201C;</font><font style="display: inline;font-weight:bold;">Common Stock</font><font style="display: inline;">&#x201D;) to </font><font style="display: inline;">the Participant</font><font style="display: inline;">, subject to the terms and conditions of this Agreement and the Plan, with a view to increasing </font><font style="display: inline;">the Participant</font><font style="display: inline;">&#x2019;s interest in the Company&#x2019;s success and growth; and</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-weight:bold;">WHEREAS</font><font style="display: inline;">, &nbsp;</font><font style="display: inline;">the Participant</font><font style="display: inline;"> desires to be the holder of shares of Common Stock subject to the terms and conditions of this Agreement;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-weight:bold;">NOW, THEREFORE</font><font style="display: inline;">, in consideration of the premises, mutual covenants and agreements contained herein, and </font><font style="display: inline;">such </font><font style="display: inline;">other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;">1.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;"></font><font style="display: inline;font-weight:bold;color:#000000;">Grant of Common Stock</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;Effective as of the </font><font style="display: inline;color:#000000;">Date of Grant</font><font style="display: inline;color:#000000;">, and s</font><font style="display: inline;color:#000000;">ubject to the </font><font style="display: inline;color:#000000;">terms and </font><font style="display: inline;color:#000000;">conditions </font><font style="display: inline;color:#000000;">set forth herein</font><font style="display: inline;color:#000000;">,</font><font style="display: inline;color:#000000;"> (a) the Company hereby </font><font style="display: inline;color:#000000;">awards and </font><font style="display: inline;color:#000000;">grants to </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;">, &nbsp;</font><font style="display: inline;font-weight:bold;color:#000000;">____________</font><font style="display: inline;font-weight:bold;color:#000000;">&nbsp;</font><font style="display: inline;font-weight:bold;color:#000000;">(</font><font style="display: inline;font-weight:bold;color:#000000;">______</font><font style="display: inline;font-weight:bold;color:#000000;">)</font><font style="display: inline;color:#000000;">&nbsp;</font><font style="display: inline;color:#000000;">shares</font><font style="display: inline;color:#000000;"> of </font><font style="display: inline;color:#000000;">the </font><font style="display: inline;color:#000000;">Common Stock (the </font><font style="display: inline;font-weight:bold;color:#000000;">&#x201C;</font><font style="display: inline;font-weight:bold;color:#000000;">Restricted </font><font style="display: inline;font-weight:bold;color:#000000;">Shares&#x201D;</font><font style="display: inline;color:#000000;">), and (b) </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> shall have all rights and privileges of ownership of the </font><font style="display: inline;color:#000000;">Restricted </font><font style="display: inline;color:#000000;">Shares subject to this Agreement.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;">2.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;"></font><font style="display: inline;font-weight:bold;color:#000000;">Transfer Restrictions.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<a name="_Ref246384863"></a><a name="_Ref169355400"></a><font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(a)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;color:#000000;">The Restricted Shares shall be registered in the Participant&#x2019;s name as of the Date of Grant through a book entry credit in the records of the Company&#x2019;s transfer agent. </font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(b)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;color:#000000;">Subject to the conditions set forth in this Agreement, the Participant&#x2019;s shall have all the rights of a stockholder with respect to the Restricted Shares as of the Date of Grant, including any applic</font><font style="display: inline;color:#000000;">able voting and dividend rights, provided, however, i</font><font style="display: inline;color:#000000;">f, from time to time during </font><font style="display: inline;color:#000000;">the period prior to the date the Restricted Shares vest in accordance with this Agreement</font><font style="display: inline;color:#000000;">, there is any stock dividend, stock split, reorganization, recapitalization, merger, or other event described in the Plan, any and all new, substituted, additional, or other securities to which the Participant is entitled by reason of his ownership </font>
		</font>
		<p><font size="1"> </font></p><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 12pt 36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt"><font style="display: inline;color:#000000;">of the Restricted Shares shall be considered &#x201C;</font><font style="display: inline;font-weight:bold;font-style:italic;color:#000000;">Restricted Shares</font><font style="display: inline;color:#000000;">&#x201D; for purposes of this Agreement and shall be subject to the restrictions described in this Agreement </font><font style="display: inline;color:#000000;">under the underlying Restricted Shares vest</font><font style="display: inline;color:#000000;">.</font></p>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(c)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;color:#000000;">The Participant shall </font><font style="display: inline;color:#000000;">not sell, assign, exchange, pledge, encumber, gift, devise, hypothecate or otherwise transfer (individually and collectively, &#x201C;</font><font style="display: inline;font-weight:bold;font-style:italic;color:#000000;">Transfer</font><font style="display: inline;color:#000000;">&#x201D;) any Restricted Shares unless and until vested</font><font style="display: inline;color:#000000;">. The Transfer restrictions shall lapse and the Restricted Shares shall become fully vested on the earlier of the first anniversary of the Date of Grant or the first Annual Stockholders Meeting following the Date of Grant (but not less than fifty (50) weeks following the Date of Grant), provided that the Participant then is, and continuously from the Date of Grant has been, an Outside Director and there has not been a Termination of Service (as defined in the Plan</font><font style="display: inline;color:#000000;">)</font><font style="display: inline;color:#000000;"> before the applicable vesting date (except as otherwise provided herein). </font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;font-size:11pt;">(d)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;font-size:11pt;"></font><font style="display: inline;color:#000000;">If there is a Change in Control (as defined in the Plan), all the then-unvested </font><font style="display: inline;color:#000000;">Restricted </font><font style="display: inline;color:#000000;">Shares shall automatically become 100% vested as of the date of the Change in Control.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(e)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;color:#000000;">If the Participant </font><font style="display: inline;color:#000000;">incurs a Termination of Service from </font><font style="display: inline;color:#000000;">the Board due to the Participant&#x2019;s death or </font><font style="display: inline;color:#000000;">Total and Permanent Disability</font><font style="display: inline;color:#000000;">, the then-unvested </font><font style="display: inline;color:#000000;">Restricted </font><font style="display: inline;color:#000000;">Shares shall automatically become 100% vested as of the Participant&#x2019;s </font><font style="display: inline;color:#000000;">Termination of Service on </font><font style="display: inline;color:#000000;">the Board.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:25pt;"><font style="display: inline;color:#000000;">(f)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;color:#000000;">If the Participant</font><font style="display: inline;color:#000000;"> incurs a Termination of Service from </font><font style="display: inline;color:#000000;">the Board for any reason other than the Participant&#x2019;s death or </font><font style="display: inline;color:#000000;">Total and Permanent Disability</font><font style="display: inline;color:#000000;">, and prior to the earlier of (i) the completion of the Participant&#x2019;s current term, or (ii) the first anniversary of the </font><font style="display: inline;color:#000000;">Date of Grant</font><font style="display: inline;color:#000000;">, any unvested </font><font style="display: inline;color:#000000;">Restricted </font><font style="display: inline;color:#000000;">Shares will be forfeited and revert back to the Plan.</font><font style="display: inline;color:#000000;">&nbsp;</font><font style="display: inline;color:#000000;">In the event of forfeiture of the Restricted Shares, the Participant shall have no further rights with respect to such Restricted Shares.&nbsp; </font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;">3.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;"></font><font style="display: inline;font-weight:bold;color:#000000;">Issuance of Certificate</font><font style="display: inline;color:#000000;">.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(a)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;color:#000000;">It is </font><font style="display: inline;color:#000000;">voluntarily </font><font style="display: inline;color:#000000;">agreed by </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> that </font><font style="display: inline;color:#000000;">he will hold the </font><font style="display: inline;color:#000000;">Restricted Shares</font><font style="display: inline;color:#000000;">, either individually or in street name through a brokerage firm,</font><font style="display: inline;color:#000000;">&nbsp;</font><font style="display: inline;color:#000000;">and the </font><font style="display: inline;color:#000000;">Restricted Shares</font><font style="display: inline;color:#000000;">&nbsp;</font><font style="display: inline;color:#000000;">will not be sold or otherwise </font><font style="display: inline;color:#000000;">transferred or </font><font style="display: inline;color:#000000;">disposed of</font><font style="display: inline;color:#000000;">&nbsp;</font><font style="display: inline;color:#000000;">to any other person or entity, except </font><font style="display: inline;color:#000000;">resulting from </font><font style="display: inline;color:#000000;">his death, </font><font style="display: inline;color:#000000;">until the date </font><font style="display: inline;color:#000000;">that is </font><font style="display: inline;color:#000000;">three (3) years from the </font><font style="display: inline;color:#000000;">Date of Grant</font><font style="display: inline;color:#000000;">.&nbsp; </font><font style="display: inline;color:#000000;">The Participant</font><font style="display: inline;color:#000000;"> also agrees that he will not transfer the </font><font style="display: inline;color:#000000;">Restricted Shares</font><font style="display: inline;color:#000000;">&nbsp;</font><font style="display: inline;color:#000000;">in any manner that would constitute, in the opinion of counsel for the Company, a violation of any applicable federal or state securities or other laws or regulations, or any rules or regulations of any stock exchange on which the Common Stock is listed.&nbsp;&nbsp;The Company may cause to be issued a stock certificate, registered in the name of the </font><font style="display: inline;color:#000000;">Participant</font><font style="display: inline;color:#000000;">, evidencing the </font><font style="display: inline;color:#000000;">Restricted Shares</font><font style="display: inline;color:#000000;">.&nbsp; </font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(b)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;color:#000000;">The certificate </font><font style="display: inline;color:#000000;">for the </font><font style="display: inline;color:#000000;">Restricted Shares</font><font style="display: inline;color:#000000;">&nbsp;</font><font style="display: inline;color:#000000;">shall be held by the </font><font style="display: inline;color:#000000;">Participant</font><font style="display: inline;color:#000000;">.&nbsp; </font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(c)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;color:#000000;">The Company shall direct its transfer agent to deliver to </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> certificates evidencing </font><font style="display: inline;color:#000000;">the </font><font style="display: inline;color:#000000;">Restricted Shares</font><font style="display: inline;color:#000000;"> or deliver the shares to a brokerage account as instructed by the </font><font style="display: inline;color:#000000;">Participant</font><font style="display: inline;color:#000000;">.&nbsp; </font><font style="display: inline;color:#000000;">The Participant</font><font style="display: inline;color:#000000;"> will enter into such written representations </font>
		</font>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;font-size:12pt;"></font><font style="display: inline;font-size:12pt;">2</font><font style="display: inline;font-size:12pt;"></font>

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 12pt 36pt;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt"><font style="display: inline;color:#000000;">and agreements as the Company may reasonably request to comply with any securities law</font><font style="display: inline;color:#000000;"> or regulation</font><font style="display: inline;color:#000000;">.</font></p>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;">4.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;"></font><font style="display: inline;font-weight:bold;color:#000000;">Participant</font><font style="display: inline;font-weight:bold;color:#000000;">&#x2019;s Representations</font><font style="display: inline;font-weight:bold;color:#000000;">.</font><font style="display: inline;color:#000000;"> &nbsp; &nbsp;</font><font style="display: inline;color:#000000;">The Participant</font><font style="display: inline;color:#000000;"> acknowledges that </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> has been provided a copy of the prospectus, dated </font><font style="display: inline;color:#000000;">June 25, 2020</font><font style="display: inline;color:#000000;">, relating to the issuance of the </font><font style="display: inline;color:#000000;">Restricted Shares</font><font style="display: inline;color:#000000;">.</font><font style="display: inline;color:#000000;">&nbsp;</font><font style="display: inline;color:#000000;">&nbsp;</font><font style="display: inline;color:#000000;">The rights and obligations of the Company and the </font><font style="display: inline;color:#000000;">Participant</font><font style="display: inline;color:#000000;"> hereunder are subject to </font><font style="display: inline;color:#000000;">the terms of the Plan and </font><font style="display: inline;color:#000000;">all applicable laws and regulations.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;">5.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;"></font><font style="display: inline;font-weight:bold;color:#000000;">Interpretation</font><font style="display: inline;font-weight:bold;color:#000000;">.</font><font style="display: inline;color:#000000;"> &nbsp;The meaning assigned to each term defined herein shall be equally applicable to both the singular and the plural forms of such term and vice versa, and words denoting either gender shall include both genders as the context requires.&nbsp;&nbsp;Where a word or phrase is defined herein, each of its other grammatical forms shall have a corresponding meaning.&nbsp;&nbsp;The terms &#x201C;hereof,&#x201D; &#x201C;herein&#x201D; and &#x201C;herewith&#x201D; and words of similar import shall, unless otherwise stated, be construed to refer to this Agreement as a whole and not to any particular provision of this Agreement.&nbsp;&nbsp;When a reference is made in this Agreement to a Section, such reference is to a Section of this Agreement unless otherwise specified.&nbsp;&nbsp;The terms &#x201C;include&#x201D;, &#x201C;includes&#x201D;, and &#x201C;including&#x201D; when used in this Agreement shall be deemed to be followed by the words &#x201C;without limitation&#x201D;, unless otherwise specified.&nbsp;&nbsp;A reference to any party to this Agreement or any other agreement or document shall include such party&#x2019;s predecessors, successors, and permitted assigns.&nbsp;&nbsp;Reference to any law means such law as amended, modified, codified, replaced, or reenacted, and all rules and regulations promulgated thereunder.&nbsp;&nbsp;All captions contained in this Agreement are for convenience of reference only, do not form a part of this Agreement, and shall not affect in any way the meaning or interpretation of this Agreement.&nbsp;&nbsp;The parties have participated jointly in the negotiation and drafting of this Agreement; therefore any rule of construction or interpretation otherwise requiring this Agreement to be construed or interpreted against any party by virtue of the authorship of this Agreement shall not apply to the construction and interpretation hereof.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;">6.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;"></font><font style="display: inline;font-weight:bold;color:#000000;">Participant</font><font style="display: inline;font-weight:bold;color:#000000;">&nbsp;</font><font style="display: inline;font-weight:bold;color:#000000;">Acknowledgment</font><font style="display: inline;color:#000000;">&nbsp;</font><font style="display: inline;color:#000000;">The Participant</font><font style="display: inline;color:#000000;"> acknowledges that (a) he is knowledgeable and sophisticated as to business matters, including the subject matter of this Agreement, (b) he has read this Agreement and understands its terms and conditions, (c) he has had ample opportunity to discuss this Agreement with his legal counsel and tax advisors prior to execution, and (d) no strict rules of construction shall apply for or ag</font><font style="display: inline;color:#000000;">ainst the drafter or any other p</font><font style="display: inline;color:#000000;">arty.&nbsp;&nbsp;It is the desire of the </font><font style="display: inline;color:#000000;">p</font><font style="display: inline;color:#000000;">arties hereto that this Agreement be enforced to the maximum extent permitted by law, and should any provision contained herein be held invalid or otherwise unenforceable by a court of competent jurisdiction, the </font><font style="display: inline;color:#000000;">p</font><font style="display: inline;color:#000000;">arties hereby agree and confirm that such provision shall be reformed to create a valid and enforceable provision to the maximum extent permitted by law.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;">7.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;"></font><font style="display: inline;font-weight:bold;color:#000000;">Compliance with Code Section 409A.</font><font style="display: inline;color:#000000;"> &nbsp;The </font><font style="display: inline;color:#000000;">Restricted Shares</font><font style="display: inline;color:#000000;"> awarded under this Agreement are not intended to be subject to </font><font style="display: inline;color:#000000;">Section 409A</font><font style="display: inline;color:#000000;"> of the U.S. Internal Revenue Code of 1986</font><font style="display: inline;color:#000000;">, as amended (&#x201C;</font><font style="display: inline;font-weight:bold;color:#000000;">Section 409A</font><font style="display: inline;color:#000000;">&#x201D;)</font><font style="display: inline;color:#000000;">, including the authoritative guidance issued thereunder, and shall be interpreted and administered to be exempt from the application of Section 409A</font><font style="display: inline;color:#000000;">.</font><font style="display: inline;color:#000000;">&nbsp;</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display: inline;font-weight:bold;color:#000000;">8.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;color:#000000;"></font><font style="display: inline;font-weight:bold;color:#000000;">Tax Requirements.&nbsp;&nbsp;The Participant is hereby advised to consult immediately with his or her own tax advisor regarding the tax consequences of this Agreement, the method and timing for filing an election to include this Agreement in income under Section 83(b) of the Code, and the tax consequences of such election.&nbsp; </font><font style="display: inline;color:#000000;">By execution of this Agreement, </font>
		</font>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;font-size:12pt;"></font><font style="display: inline;font-size:12pt;">3</font><font style="display: inline;font-size:12pt;"></font>

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt"><font style="display: inline;color:#000000;">the Participant agrees that if the Participant makes such an election, the Participant shall provide the Company with written notice of such election in accordance with the regulations promulgated under Section 83(b) of the Code.&nbsp; </font><font style="display: inline;color:#000000;">The Participant acknowledges and understands that the Participant shall be solely responsible for paying any taxes due in connection with making such </font><font style="display: inline;color:#000000;">election under </font><font style="display: inline;color:#000000;">Section 83(b) of the Code. </font></p>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;">9.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;"></font><font style="display: inline;font-weight:bold;color:#000000;">Miscellaneous.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(a)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;font-style:italic;text-decoration:underline;color:#000000;">Notices</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;Any notice, instruction, authorization, request or demand required hereunder shall be in writing, and shall be delivered either by personal in-hand delivery, by telecopy or similar facsimile means, by certified or registered mail, return receipt requested, or by courier or delivery service, addressed to the Company at its then current main corporate address, and to </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> at his address indicated on the Company&#x2019;s records, or at such other address and number as a party has last previously designated by written notice given to the other party in the manner hereinabove set forth.&nbsp;&nbsp;Notices shall be deemed given when received, if sent by facsimile means (confirmation of such receipt by confirmed facsimile transmission being deemed receipt of communications sent by facsimile means); and when delivered and receipted for (or upon the date of attempted delivery where delivery is refused), if hand-delivered, sent by courier or delivery service, or sent by certified or registered mail, return receipt requested.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(b)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;font-style:italic;text-decoration:underline;color:#000000;">Amendment, Termination and Waiver</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;This Agreement may be amended, modified, terminated or superseded only by written instrument executed by or on behalf of the Company and </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;Any waiver of the terms or conditions hereof shall be made only by a written instrument executed and delivered by the party waiving compliance.&nbsp;&nbsp;Any waiver granted by the Company shall be effective only if executed and delivered by a duly authorized executive officer of the Company.&nbsp;&nbsp;The failure of any party at any time or times to require performance of any provisions hereof shall in no manner affect the right to enforce the same.&nbsp;&nbsp;No waiver by any party of any term or condition herein, or the breach thereof, in one or more instances shall be deemed to be, or construed as, a further or continuing waiver of any such condition or breach or a waiver of any other condition or the breach of any other term or condition.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(c)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;font-style:italic;text-decoration:underline;color:#000000;">No Guarantee of Tax Consequences</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;The Company makes no commitment or guarantee that any tax treatment will apply or be available to </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> or any other person.&nbsp;&nbsp;The </font><font style="display: inline;color:#000000;">Participant</font><font style="display: inline;color:#000000;"> has been advised, and provided with the opportunity, to obtain independent legal and tax advice regarding the grant</font><font style="display: inline;color:#000000;">&nbsp;</font><font style="display: inline;color:#000000;">and disposition of </font><font style="display: inline;color:#000000;">the </font><font style="display: inline;color:#000000;">Restricted Shares</font><font style="display: inline;color:#000000;">.</font><font style="display: inline;color:#000000;"> Additionally,</font><font style="display: inline;color:#000000;"> the</font><font style="display: inline;color:#000000;">&nbsp;</font><font style="display: inline;color:#000000;">Participant</font><font style="display: inline;color:#000000;"> agrees to</font><font style="display: inline;color:#000000;"> be responsible for and</font><font style="display: inline;color:#000000;"> pay all taxes </font><font style="display: inline;color:#000000;">that result</font><font style="display: inline;color:#000000;"> from </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;">&#x2019;s ownership</font><font style="display: inline;color:#000000;"> and disposition</font><font style="display: inline;color:#000000;">&nbsp;</font><font style="display: inline;color:#000000;">of the </font><font style="display: inline;color:#000000;">Restricted Shares</font><font style="display: inline;color:#000000;">. &nbsp;</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(d)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;font-style:italic;text-decoration:underline;color:#000000;">Severability</font><font style="display: inline;color:#000000;">.&nbsp; </font><font style="display: inline;color:#000000;">Any provision of this Agreement which is ruled to be invalid or unenforceable in any applicable jurisdiction shall be ineffective</font><font style="display: inline;color:#000000;">,</font><font style="display: inline;color:#000000;"> to the extent of such </font><font style="display: inline;color:#000000;">invalidity or unenforceability</font><font style="display: inline;color:#000000;">,</font><font style="display: inline;color:#000000;"> without invalidating or rendering unenforceable the remaining provisions hereof</font><font style="display: inline;color:#000000;">;</font><font style="display: inline;color:#000000;"> and any such invalidity or unenforceability in any</font><font style="display: inline;color:#000000;"> jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.</font></font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;font-size:12pt;"></font><font style="display: inline;font-size:12pt;">4</font><font style="display: inline;font-size:12pt;"></font>

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(e)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;font-style:italic;text-decoration:underline;color:#000000;">Supersedes Prior Agreements</font><font style="display: inline;color:#000000;">.&nbsp; </font><font style="display: inline;color:#000000;">This Agreement, together with the Plan, shall supersede and replace any and all prior agreements and understandings, oral or written, between the Company and the Participant regarding the grant of the </font><font style="display: inline;color:#000000;">Restricted Shares</font><font style="display: inline;color:#000000;"> covered hereby.&nbsp;&nbsp;All prior negotiations and agreements between the parties with respect to the subject matter hereof are merged into this Agreement.&nbsp;&nbsp;Each party to this Agreement acknowledges that no representations, inducements, promises, or agreements, orally or otherwise, have been made by any party or by anyone acting on behalf of any party, which are not embodied in this Agreement or the Plan and that any agreement, statement, or promise that is not contained in this Agreement or the Plan shall not be valid or binding or of any force or effect.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:25pt;"><font style="display: inline;color:#000000;">(f)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;font-style:italic;text-decoration:underline;color:#000000;">Governing Law</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;The Agreement shall be construed in accordance with the laws of the State of </font><font style="display: inline;color:#000000;">Delaware</font><font style="display: inline;color:#000000;">, without regard to its conflict of law provisions, to the extent federal law does not supersede and preempt </font><font style="display: inline;color:#000000;">Delaware</font><font style="display: inline;color:#000000;"> law.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(g)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;font-style:italic;text-decoration:underline;color:#000000;">Successors and Assigns</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;This Agreement shall bind, be enforceable by, and inure to the benefit of, the Company and </font><font style="display: inline;color:#000000;">the </font><font style="display: inline;color:#000000;">Participant</font><font style="display: inline;color:#000000;"> and </font><font style="display: inline;color:#000000;">their </font><font style="display: inline;color:#000000;">permitted successors and assigns under the Plan.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:22pt;"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;">10.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;"></font><font style="display: inline;font-weight:bold;color:#000000;">Survival of Certain Provisions</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;Wherever appropriate to the intention of the </font><font style="display: inline;color:#000000;">p</font><font style="display: inline;color:#000000;">arties</font><font style="display: inline;color:#000000;"> hereto</font><font style="display: inline;color:#000000;">, the respective rights and obligations of the </font><font style="display: inline;color:#000000;">p</font><font style="display: inline;color:#000000;">arties hereunder shall survive any termination or expiration of this Agreement.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:22pt;"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;">11.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;"></font><font style="display: inline;font-weight:bold;color:#000000;">Signature in Counterparts</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;This Agreement may be signed in counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.&nbsp;&nbsp;The parties agree that the delivery of this Agreement may be effected by means of an exchange of facsimile signatures which shall be deemed original signatures thereof.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;color:#000000;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-style:italic;color:#000000;">[Signature page follows.]</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;font-size:12pt;"></font><font style="display: inline;font-size:12pt;">5</font><font style="display: inline;font-size:12pt;"></font>

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;;font-size: 12pt"><font style="display: inline;font-weight:bold;"></font><font style="display: inline;font-weight:bold;">IN WITNESS WHEREOF</font><font style="display: inline;">, this Stock Award Agreement is made and entered into as of the date first written above.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 216pt;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-weight:bold;">VAALCO Energy</font><font style="display: inline;font-weight:bold;">, Inc.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 216pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 12pt 216pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">By:</font><font style="display: inline;">________________________________</font>
		</p>
		<p style="margin:0pt 0pt 12pt 216pt;text-align:left;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">Name:</font><font style="display: inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;"></font><br /><font style="display: inline;">Title:</font><font style="display: inline;"></font>
		</p>
		<p style="margin:0pt 0pt 12pt 216pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-style:italic;">Address for Notices:</font>
		</p>
		<p style="margin:0pt 0pt 0pt 216pt;text-align:left;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">VAALCO Energy</font><font style="display: inline;">, Inc.</font><br /><font style="display: inline;"></font><font style="display: inline;">9800 Richmond Ave.</font><br /><font style="display: inline;">Suite 700</font><br /><font style="display: inline;">Houston, TX 770</font><font style="display: inline;">42</font>
		</p>
		<p style="margin:0pt 0pt 12pt 216pt;text-align:left;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">Attn:</font><font style="display: inline;"> &nbsp;General Counsel</font><font style="display: inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 216pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;text-decoration:underline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 12pt 216pt;text-align:left;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-weight:bold;">Participant Signature:</font>
		</p>
		<p style="margin:0pt 0pt 12pt 216pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 12pt 216pt;text-align:left;border-top:1pt none #D9D9D9 ;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">________________________________</font>
		</p>
		<p style="margin:0pt 0pt 0pt 180pt;text-indent:36pt;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-style:italic;">Address for Notices:</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;font-size:12pt;"></font><font style="display: inline;font-size:12pt;">6</font><font style="display: inline;font-size:12pt;"></font>

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	<head>
		<title>
			Exhibit 103
		</title>
	</head>
	<body><div style="margin-left:72pt;margin-right:72pt;"><div style="width:100%">

		<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;font-weight:bold;">Exhibit 10.3</font>

		</p>

		<p style="margin:0pt 0pt 14pt;text-align:center;font-weight:bold;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 14pt">

			<font style="display: inline;"><img src="egy-20200630xex10_3g001.jpg" style="width: 0.6145068in; height: 0.5207677in" alt="Picture 1"></font>

		</p>

		<p style="margin:0pt 0pt 14pt;text-align:center;font-weight:bold;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 14pt">

			<font style="display: inline;">VAALCO ENERGY, INC.</font>

		</p>

		<p style="margin:0pt 0pt 14pt;text-align:center;font-weight:bold;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 14pt">

			<font style="display: inline;">RESTRICTED STOCK AWARD AGREEMENT</font>

		</p>

</div>
		<p style="margin:0pt 0pt 14pt;text-align:center;font-weight:bold;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 14pt">
			<a name="_GoBack"></a><font style="display: inline;">Participant:</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-weight:bold;">THIS RESTRICTED STOCK AGREEMENT</font><font style="display: inline;"> (the </font><font style="display: inline;font-weight:bold;">&#x201C;Agreement&#x201D;</font><font style="display: inline;">) is made and entered into by and between </font><font style="display: inline;">VAALCO Energy</font><font style="display: inline;">,</font><font style="display: inline;"> Inc., a Delaware corporation (the </font><font style="display: inline;font-weight:bold;">&#x201C;Company&#x201D;</font><font style="display: inline;">) and </font><font style="display: inline;">____________________________</font><font style="display: inline;">,</font><font style="display: inline;"> an individual and </font><font style="display: inline;">e</font><font style="display: inline;">mployee</font><font style="display: inline;"> of the Company (</font><font style="display: inline;">the </font><font style="display: inline;font-weight:bold;">&#x201C;</font><font style="display: inline;font-weight:bold;">Participant</font><font style="display: inline;font-weight:bold;">&#x201D;</font><font style="display: inline;">), on the </font><font style="display: inline;">25</font><font style="display: inline;font-size:6pt;vertical-align:super;line-height:100%">th</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">day of</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">June 2020</font><font style="display: inline;"> (the </font><font style="display: inline;font-weight:bold;">&#x201C;</font><font style="display: inline;font-weight:bold;">Date of Grant</font><font style="display: inline;font-weight:bold;">&#x201D;</font><font style="display: inline;">), subject to the </font><font style="display: inline;">VAALCO Energy</font><font style="display: inline;">,</font><font style="display: inline;"> Inc. 20</font><font style="display: inline;">20</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">Long Term Incentive </font><font style="display: inline;">Plan (the </font><font style="display: inline;font-weight:bold;">&#x201C;Plan&#x201D;</font><font style="display: inline;">).&nbsp;&nbsp;This Agreement is subject to the terms and conditions of the Plan, which is incorporated herein in its entirety by reference.&nbsp;&nbsp;A copy of the Plan has been made available to </font><font style="display: inline;">the Participant</font><font style="display: inline;">.&nbsp;&nbsp;Capitalized terms not otherwise defined in this Agreement shall have the meaning given to such terms in the Plan.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-weight:bold;">WHEREAS</font><font style="display: inline;">, &nbsp;</font><font style="display: inline;">the Participant</font><font style="display: inline;"> is</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">an Employee</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">of the Company, and in connection therewith, the Company desires to </font><font style="display: inline;">grant </font><font style="display: inline;">r</font><font style="display: inline;">estricted </font><font style="display: inline;">s</font><font style="display: inline;">hares of the Company&#x2019;s Common Stock (the &#x201C;</font><font style="display: inline;font-weight:bold;">Common Stock</font><font style="display: inline;">&#x201D;) to </font><font style="display: inline;">the Participant</font><font style="display: inline;">, subject to the terms and conditions of this Agreement and the Plan, with a view to increasing </font><font style="display: inline;">the Participant</font><font style="display: inline;">&#x2019;s interest in the Company&#x2019;s success and growth; and</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-weight:bold;">WHEREAS</font><font style="display: inline;">, &nbsp;</font><font style="display: inline;">the Participant</font><font style="display: inline;"> desires to be the holder of shares of Common Stock subject to the terms and conditions of this Agreement;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-weight:bold;">NOW, THEREFORE</font><font style="display: inline;">, in consideration of the premises, mutual covenants and agreements contained herein, and </font><font style="display: inline;">such </font><font style="display: inline;">other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto, intending to be legally bound </font><font style="display: inline;">hereby</font><font style="display: inline;">, agree as follows:</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;">1.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;"></font><font style="display: inline;font-weight:bold;color:#000000;">Grant of Common Stock</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;Subject to the restrictions, </font><font style="display: inline;color:#000000;">vesting, </font><font style="display: inline;color:#000000;">forfeiture</font><font style="display: inline;color:#000000;">,</font><font style="display: inline;color:#000000;"> and other terms and conditions set forth herein (a) the Company hereby grants to </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;">, &nbsp;</font><font style="display: inline;color:#000000;">________</font><font style="display: inline;color:#000000;">&nbsp;</font><font style="display: inline;color:#000000;">(</font><font style="display: inline;color:#000000;">______</font><font style="display: inline;color:#000000;">)</font><font style="display: inline;color:#000000;"> shares of </font><font style="display: inline;color:#000000;">the </font><font style="display: inline;color:#000000;">Common Stock (the </font><font style="display: inline;font-weight:bold;color:#000000;">&#x201C;Restricted Shares&#x201D;</font><font style="display: inline;color:#000000;">), and (b) </font><font style="display: inline;color:#000000;">the Partici</font><font style="display: inline;color:#000000;">pant</font><font style="display: inline;color:#000000;"> shall have all rights and privileges of ownership of the Restricted Shares subject to this Agreement and the </font><font style="display: inline;color:#000000;">terms of the </font><font style="display: inline;color:#000000;">Plan.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;">2.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;"></font><font style="display: inline;font-weight:bold;color:#000000;">Transfer Restrictions.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(a)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;font-style:italic;text-decoration:underline;color:#000000;">Generally</font><font style="display: inline;color:#000000;">.&nbsp; </font><font style="display: inline;color:#000000;">The </font><font style="display: inline;color:#000000;">Participant</font><font style="display: inline;color:#000000;"> shall </font><a name="_Hlk42869772"></a><font style="display: inline;color:#000000;">not sell, assign, exchange, pledge, encumber, gift, devise, hypothecate or otherwise transfer (individually and collectively, </font><font style="display: inline;font-weight:bold;color:#000000;">&#x201C;Transfer&#x201D;</font><font style="display: inline;color:#000000;">) any Restricted Shares unless and until vested</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;The Transfer restrictions imposed by this </font><font style="display: inline;text-decoration:underline;color:#000000;">Section&nbsp;2</font><font style="display: inline;color:#000000;"> shall lapse in accordance with the vesting schedule </font><font style="display: inline;color:#000000;">set out </font><font style="display: inline;color:#000000;">below </font><font style="display: inline;color:#000000;">(the &#x201C;</font><font style="display: inline;font-weight:bold;color:#000000;">Vesting Schedule</font><font style="display: inline;color:#000000;">&#x201D;) </font><font style="display: inline;color:#000000;">when the Restricted Shar</font><font style="display: inline;color:#000000;">es become vested, provided that</font><font style="display: inline;color:#000000;">&nbsp;</font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> then is, and continuously from the </font><font style="display: inline;color:#000000;">Date of Grant</font><font style="display: inline;color:#000000;"> has been, an </font><font style="display: inline;color:#000000;">employee </font><font style="display: inline;color:#000000;">of the Company and there has</font><font style="display: inline;color:#000000;"> not</font><font style="display: inline;color:#000000;"> been </font><font style="display: inline;color:#000000;">Termination of Service</font><font style="display: inline;color:#000000;"> (as defined in </font><font style="display: inline;color:#000000;">the Plan)</font><font style="display: inline;color:#000000;"> before the applicab</font><font style="display: inline;color:#000000;">le vesting date set out in the V</font><font style="display: inline;color:#000000;">esting </font><font style="display: inline;color:#000000;">S</font><font style="display: inline;color:#000000;">chedule</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;The Restricted Shares as to which such restrictions have lapsed are referred to herein as </font><font style="display: inline;font-weight:bold;color:#000000;">&#x201C;Vested Shares.&#x201D;</font></font>
		</p>
		<p><font size="1"> </font></p><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<a name="_Ref169355400"></a><a name="_Ref246384863"></a><font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(b)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;color:#000000;">The Restricted Shares shall be registered in </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;">&#x2019;s </font><font style="display: inline;color:#000000;">name as of the </font><font style="display: inline;color:#000000;">Date of Grant</font><font style="display: inline;color:#000000;"> through a book entry credit in the records of the Company&#x2019;s transfer agent, but shall be restricted as described herein </font><font style="display: inline;color:#000000;">from the </font><font style="display: inline;color:#000000;">Date of Grant</font><font style="display: inline;color:#000000;"> and </font><font style="display: inline;color:#000000;">during the period prior to the vesting of such shares in accordance with</font><font style="display: inline;color:#000000;">&nbsp;</font><font style="display: inline;text-decoration:underline;color:#000000;">Section&nbsp;</font><font style="display: inline;text-decoration:underline;color:#000000;">2</font><font style="display: inline;text-decoration:underline;color:#000000;">(d)</font><font style="display: inline;color:#000000;"> (the &#x201C;</font><font style="display: inline;font-weight:bold;color:#000000;">Restriction Period</font><font style="display: inline;color:#000000;">&#x201D;).&nbsp;&nbsp;During the Restriction Period, any certificates representing the Restricted Shares shall carry a legend evidencing the restrictions of this Agreement.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<a name="_Ref169344680"></a><a name="_Hlk42869990"></a><font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(c)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;color:#000000;">If, from time to time during the Restriction Period, there is any stock dividend, stock split, reorganization, recapitalization, merger, or other event described in the Plan, any and all new, substituted, additional, or other securities to which </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> is entitled by reason of his ownership of the Restricted Shares shall be considered &#x201C;</font><font style="display: inline;color:#000000;">Restricted Shares</font><font style="display: inline;color:#000000;">&#x201D; for purposes of this Agreement and shall be subject to the restrictions described in </font><font style="display: inline;color:#000000;">this Agreement </font><font style="display: inline;color:#000000;">during the Restriction Period.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(d)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;color:#000000;">Subject to the restrictions set forth in</font><font style="display: inline;color:#000000;"> this Agreement,</font><font style="display: inline;color:#000000;">&nbsp;</font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> shall have all the rights of a stockholder with respect to the Restricted Shares, including any applicable voting and dividend rights.</font><font style="display: inline;color:#000000;"> &nbsp; &nbsp;</font><font style="display: inline;color:#000000;">&nbsp;</font><a name="_Hlk42870077"></a><font style="display: inline;color:#000000;">In the event of forfeiture of the Restricted</font><font style="display: inline;color:#000000;"> Shares</font><font style="display: inline;color:#000000;">, &nbsp;</font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> shall have no further rights with respect to such Restricte</font><font style="display: inline;color:#000000;">d Shares.&nbsp; </font><font style="display: inline;color:#000000;">The forfeiture of any</font><font style="display: inline;color:#000000;"> Restricted Shares shall not create any obligation to repay cash dividends received as to such Restricted Shares, nor shall such forfeiture invalidate any votes given by </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> with respect to such Restricted Shares prior to forfeiture.</font><font style="display: inline;color:#000000;"> &nbsp;The Restricted Shares shall become </font><font style="display: inline;color:#000000;">v</font><font style="display: inline;color:#000000;">ested during the e</font><font style="display: inline;color:#000000;">mployment period </font><font style="display: inline;color:#000000;">if </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> remains in </font><font style="display: inline;color:#000000;">continuous </font><font style="display: inline;color:#000000;">e</font><font style="display: inline;color:#000000;">mployment </font><font style="display: inline;color:#000000;">in accordance with the following </font><font style="display: inline;color:#000000;">Vesting Schedule</font><font style="display: inline;color:#000000;">:</font></font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:33.32%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 1pt">
						<font style="display: inline;font-size:1pt;color:#000000;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:33.34%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:33.34%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:33.32%;border-bottom:1pt solid #000000 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
						<font style="display: inline;font-weight:bold;color:#000000;">Date</font></p>
				</td>
				<td valign="middle" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:33.34%;border-bottom:1pt solid #000000 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">
						<font style="display: inline;font-weight:bold;color:#000000;">Additional Vested </font><br /><font style="display: inline;font-weight:bold;color:#000000;">Number of Shares</font></p>
				</td>
				<td valign="middle" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:33.34%;border-bottom:1pt solid #000000 ;background-color: #auto;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">
						<font style="display: inline;font-weight:bold;color:#000000;">Total Percentage of Vested Shares</font></p>
				</td>
			</tr>
			<tr>
				<td valign="middle" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:33.32%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
						<font style="display: inline;color:#000000;">1</font><font style="display: inline;color:#000000;font-size:6pt;vertical-align:super;line-height:100%">st</font><font style="display: inline;color:#000000;"> year 6/25/2021</font></p>
				</td>
				<td valign="middle" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:33.34%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">
						<font style="display: inline;color:#000000;">1/3</font></p>
				</td>
				<td valign="middle" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:33.34%;border-top:1pt solid #000000 ;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">
						<font style="display: inline;color:#000000;">(33%)</font></p>
				</td>
			</tr>
			<tr>
				<td valign="middle" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:33.32%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
						<font style="display: inline;color:#000000;">2</font><font style="display: inline;color:#000000;font-size:6pt;vertical-align:super;line-height:100%">nd</font><font style="display: inline;color:#000000;"> year 6/25/2022</font></p>
				</td>
				<td valign="middle" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:33.34%;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">
						<font style="display: inline;color:#000000;">1/3</font></p>
				</td>
				<td valign="middle" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:33.34%;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">
						<font style="display: inline;color:#000000;">(66%)</font></p>
				</td>
			</tr>
			<tr>
				<td valign="middle" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:33.32%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
						<font style="display: inline;color:#000000;">3</font><font style="display: inline;color:#000000;font-size:6pt;vertical-align:super;line-height:100%">rd</font><font style="display: inline;color:#000000;"> year 6/25/2023</font></p>
				</td>
				<td valign="middle" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:33.34%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">
						<font style="display: inline;color:#000000;">1/3</font></p>
				</td>
				<td valign="middle" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:33.34%;background-color: #CCEEFF;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 12pt">
						<font style="display: inline;color:#000000;">(100%)</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;color:#000000;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;font-size:11pt;">(e)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;font-size:11pt;"></font><font style="display: inline;color:#000000;">If there is a Change in Control of the Company (as defined in the Plan), all the then-unvested Restricted Shares shall automatically become 100% vested as of the </font><font style="display: inline;color:#000000;">date of the Change in Control.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:25pt;"><font style="display: inline;color:#000000;">(f)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;color:#000000;">During the Restriction Period, </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> shall not sell, transfer, pledge, assign, alienate, hypothecate, or otherwise encumber or dispose of the Restricted Shares other than by will or the laws of descent and distribution.&nbsp;&nbsp;Any attempt to do so contrary to the foregoing shall be null and void.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(g)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;color:#000000;">A</font><font style="display: inline;color:#000000;">ny</font><font style="display: inline;color:#000000;"> Restricted Shares forfeited hereunder shall </font><font style="display: inline;color:#000000;">be cancelled and </font><font style="display: inline;color:#000000;">automatically revert to the Plan.&nbsp;&nbsp;Any certificate(s) representing Restricted Shares which include forfeited shares shall only represent the number of Restricted Shares not forfeited hereunder.&nbsp;&nbsp;Upon the Company&#x2019;s request, </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> agrees to tender to the Company any certificate(s) representing Restricted Shares which include forfeited shares for a new certificate representing only the unforfeited number of Restricted Shares.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;">3.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;"></font><font style="display: inline;font-weight:bold;color:#000000;">Termination of </font><font style="display: inline;font-weight:bold;color:#000000;">Service.</font><font style="display: inline;font-weight:bold;color:#000000;"> &nbsp; &nbsp;</font><font style="display: inline;color:#000000;">Voluntary or involuntary </font><font style="display: inline;color:#000000;">Termination of Service</font><font style="display: inline;color:#000000;"> shall affect </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;">&#x2019;s rights under the Agreement as follows:</font></font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">

			<font style="display: inline;"></font><font style="display: inline;">2</font><font style="display: inline;"></font>

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(a)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;text-decoration:underline;color:#000000;">Retirement</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;In the event of </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;">&#x2019;s Retirement at or after attaining (i)&nbsp;age 65 and (</font><font style="display: inline;color:#000000;">ii)&nbsp;at least ten (10) years of e</font><font style="display: inline;color:#000000;">mployment service, all of the non-vested Restricted Stock shall become 100% vested as of the date of </font><font style="display: inline;color:#000000;">Termination of Service</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;Upon </font><font style="display: inline;color:#000000;">a</font><font style="display: inline;color:#000000;">&nbsp;</font><font style="display: inline;color:#000000;">Termination of </font><font style="display: inline;color:#000000;">Service</font><font style="display: inline;color:#000000;"> due to the </font><font style="display: inline;color:#000000;">Participant</font><font style="display: inline;color:#000000;">&#x2019;s Retirement at or after attaining age 65 but without ten (10) years of </font><font style="display: inline;color:#000000;">e</font><font style="display: inline;color:#000000;">mployment service, subject to the Vesting Schedule, </font><font style="display: inline;color:#000000;">any</font><font style="display: inline;color:#000000;"> non-vested portion of the Restricted Stock shall immediately terminate and no further vesting shall occur.&nbsp; </font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(b)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;text-decoration:underline;color:#000000;">Death or </font><font style="display: inline;text-decoration:underline;color:#000000;">Total and Permanent Disability</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;If </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;">&#x2019;s </font><font style="display: inline;color:#000000;">Termination of Service is</font><font style="display: inline;color:#000000;"> due to death or </font><font style="display: inline;color:#000000;">Total and Permanent Disability</font><font style="display: inline;color:#000000;"> (as defined in the Plan at the time of such termination), then (i)&nbsp;subject to the Vesting Schedule, </font><font style="display: inline;color:#000000;">any</font><font style="display: inline;color:#000000;"> non-vested portion of the Restricted Stock shall become 100% vested on the </font><font style="display: inline;color:#000000;">Termination of Service</font><font style="display: inline;color:#000000;"> date.&nbsp; </font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(c)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;text-decoration:underline;color:#000000;">Other Involuntary Termination or Voluntary Termination</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;If </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;">&#x2019;s </font><font style="display: inline;color:#000000;">incurs a Termination of Service</font><font style="display: inline;color:#000000;"> for whatever reason, or </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> resigns for any reason, either voluntarily or involuntarily, except for Retirement, death or </font><font style="display: inline;color:#000000;">Total and Permanent Disability</font><font style="display: inline;color:#000000;"> as set out above, then subject to the Vesting Schedule, any non-vested portion of the Restricted Stock shall immediately expire on the date</font><font style="display: inline;color:#000000;"> of such Termination of Service</font><font style="display: inline;color:#000000;">.&nbsp; </font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;">4.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;"></font><font style="display: inline;font-weight:bold;color:#000000;">Issuance of Certificate</font><font style="display: inline;color:#000000;">.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(a)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;color:#000000;">The Restricted Shares </font><font style="display: inline;color:#000000;">shall </font><font style="display: inline;color:#000000;">not be </font><font style="display: inline;color:#000000;">t</font><font style="display: inline;color:#000000;">ransferred until they become Vested Shares.&nbsp;&nbsp;Further, the Vested Shares may not be sold or otherwise disposed of in any manner that would constitute, in the opinion of counsel for the Company, a violation of any applicable federal or state securities or other laws or regulations, or any rules or regulations of any stock exchange on which the Common Stock is listed.&nbsp;&nbsp;The Company may cause to be issued a stock certificate, registered in the name of the </font><font style="display: inline;color:#000000;">Participant</font><font style="display: inline;color:#000000;">, evidencing the Restricted Shares upon receipt of a stock power duly endorsed in blank with respect to such shares.&nbsp;&nbsp;Each such stock certificate shall bear the following </font><font style="display: inline;color:#000000;">or a substantially similar </font><font style="display: inline;color:#000000;">legend:</font></font>
		</p>
		<p style="margin:0pt 72pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-style:italic;color:#000000;">The transferability of this certificate and the shares of stock represented hereby are subject to the restrictions, terms and conditions (including forfeiture and restrictions against transfer) contained in the </font><font style="display: inline;font-style:italic;color:#000000;">VAALCO Energy</font><font style="display: inline;font-style:italic;color:#000000;">,</font><font style="display: inline;font-style:italic;color:#000000;"> Inc. 20</font><font style="display: inline;font-style:italic;color:#000000;">20</font><font style="display: inline;font-style:italic;color:#000000;"> Long Term Incentive</font><font style="display: inline;font-style:italic;color:#000000;"> Plan and a Restricted Stock Agreement entered into between the registered owner of such shares and </font><font style="display: inline;font-style:italic;color:#000000;">VAALCO Energy</font><font style="display: inline;font-style:italic;color:#000000;">,</font><font style="display: inline;font-style:italic;color:#000000;"> Inc.&nbsp;&nbsp;Copies of the Plan and Restricted Stock Agreement are on file in the main corporate offices of </font><font style="display: inline;font-style:italic;color:#000000;">VAALCO Energy</font><font style="display: inline;font-style:italic;color:#000000;">,</font><font style="display: inline;font-style:italic;color:#000000;"> Inc.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(b)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;color:#000000;">The certificate, together with the stock powers relating to the Restricted Shares evidenced by such certificate, shall be held by the Company.&nbsp;&nbsp;The Company shall issue to </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> a receipt evidencing the certificates held by it which are registered in the name of </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;">.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(c)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;color:#000000;">Upon the vesting of any Restricted Shares granted hereunder, the Company shall direct its transfer agent to record such shares as unrestricted or to deliver to </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> certificates evidencing such shares.&nbsp;&nbsp;If certificates are delivered to </font><font style="display: inline;color:#000000;">the </font>
		</font>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">

			<font style="display: inline;"></font><font style="display: inline;">3</font><font style="display: inline;"></font>

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 12pt 36pt;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt"><font style="display: inline;color:#000000;">Participant</font><font style="display: inline;color:#000000;">, such certificates shall not bear the legend referenced in </font><font style="display: inline;text-decoration:underline;color:#000000;">Section&nbsp;</font><font style="display: inline;text-decoration:underline;color:#000000;">3(</font><font style="display: inline;text-decoration:underline;color:#000000;">a</font><font style="display: inline;text-decoration:underline;color:#000000;">)</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;Nothing herein shall obligate the Company to register the </font><font style="display: inline;color:#000000;">s</font><font style="display: inline;color:#000000;">hares pursuant to any applicable securities law or to take any other affirmative action in order to cause the issuance or transfer of the </font><font style="display: inline;color:#000000;">s</font><font style="display: inline;color:#000000;">hares to comply with any law or regulation of any governmental authority.&nbsp; </font><font style="display: inline;color:#000000;">The Participant</font><font style="display: inline;color:#000000;"> will enter into such written representations and agreements as the Company may reasonably request to comply with any securities law</font><font style="display: inline;color:#000000;"> or regulation</font><font style="display: inline;color:#000000;">.&nbsp; </font></p>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;">5.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;"></font><font style="display: inline;font-weight:bold;color:#000000;">Participant&#x2019;s Representations.</font><font style="display: inline;color:#000000;"> &nbsp; &nbsp;</font><a name="_Hlk42520578"></a><font style="display: inline;color:#000000;">The Participant</font><font style="display: inline;color:#000000;"> acknowledges that </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> has been provided a copy of the prospectus, dated </font><font style="display: inline;color:#000000;">June 25, 2020</font><font style="display: inline;color:#000000;"> relating to the issuance of the </font><font style="display: inline;color:#000000;">Restricted S</font><font style="display: inline;color:#000000;">hares.</font><font style="display: inline;color:#000000;">&nbsp;</font><font style="display: inline;color:#000000;">Notwithstanding any provision hereof to the contrary, the Participant hereby agrees and covenants that the Participant will not acquire any Restricted Shares, and that the Company will not be obligated to issue any Restricted Shares </font><font style="display: inline;color:#000000;">or unrestricted shares </font><font style="display: inline;color:#000000;">to the Participant hereunder</font><font style="display: inline;color:#000000;"> or under the Plan</font><font style="display: inline;color:#000000;">, if the issuance of such shares </font><font style="display: inline;color:#000000;">would constitute</font><font style="display: inline;color:#000000;"> a violation by the Participant or the Company of any applicable federal or state securities or other laws or regulations, or any rules or regulations of any stock exchange on which the Common Stock is listed</font><font style="display: inline;color:#000000;">, as determined by legal counsel for the Company</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;The rights and obligations of the Company and the Participant hereunder are subject to all applicable laws and regulations.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;">6.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;"></font><font style="display: inline;font-weight:bold;color:#000000;">Tax Withholding.</font><font style="display: inline;color:#000000;"> &nbsp; &nbsp;</font><font style="display: inline;font-weight:bold;color:#000000;">The Participant is hereby advised to consult immediately with his or her own tax advisor regarding the tax consequences of this Agreement, the method and timing for filing an election to include this Agreement in income under Section 83(b) of the Code, and the tax consequences of such election.</font><font style="display: inline;color:#000000;"> &nbsp;By execution of this Agreement, the Participant agrees that if the Participant makes such an election, the Participant shall provide the Company with written notice of such election in accordance with the regulations promulgated under Section 83(b) of the Code. </font><font style="display: inline;color:#000000;">To the extent that the receipt or vesting of Restricted Shares results in compensation income to </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> for any tax purposes, </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> shall deliver to Company at such time the sum that the Company requires to meet its tax withholding obligations under applicable law or regulation, and, if </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> fails to do so, the Company is authorized to (a)&nbsp;withhold from any cash or stock remuneration then or thereafter payable to </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> any federal, state, local or foreign tax that Company determines is required to be withheld, or (b)&nbsp;sell such number of Restricted Shares before their transfer to </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> as is deemed appropriate to satisfy such tax withholding requirements, before transferring the resulting net number of shares to </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> in full satisfaction of its obligations under this Agreement.&nbsp;&nbsp; </font><font style="display: inline;color:#000000;">The Company may, in its sole discretion, withhold any such taxes from any other cash remuneration otherwise paid by the Company to the Participant.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;">7.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;"></font><font style="display: inline;font-weight:bold;color:#000000;">Interpretation</font><font style="display: inline;color:#000000;"> The meaning assigned to each term defined herein shall be equally applicable to both the singular and the plural forms of such term and vice versa, and words denoting either gender shall include both genders as the context requires.&nbsp;&nbsp;Where a word or phrase is defined herein, each of its other grammatical forms shall have a corresponding meaning.&nbsp;&nbsp;The terms &#x201C;hereof,&#x201D; &#x201C;herein&#x201D; and &#x201C;herewith&#x201D; and words of similar import shall, unless otherwise stated, be construed to refer to this Agreement as a whole and not to any particular provision of this Agreement.&nbsp;&nbsp;When a reference is made in this Agreement to a Section, such reference is to a Section of this Agreement unless otherwise specified.&nbsp;&nbsp;The terms &#x201C;include&#x201D;, &#x201C;includes&#x201D;, and &#x201C;including&#x201D; when used in this Agreement shall be deemed to be followed by the words &#x201C;without limitation&#x201D;, unless otherwise specified.&nbsp;&nbsp;A reference to any party to this Agreement or any other agreement or document shall include such party&#x2019;s predecessors, successors, and permitted assigns.&nbsp;&nbsp;Reference to any law means such law as amended, modified, codified, replaced, or reenacted, and </font>
		</font></p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">

			<font style="display: inline;"></font><font style="display: inline;">4</font><font style="display: inline;"></font>

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt"><font style="display: inline;color:#000000;">all rules and regulations promulgated thereunder.&nbsp;&nbsp;All captions contained in this Agreement are for convenience of reference only, do not form a part of this Agreement, and shall not affect in any way the meaning or interpretation of this Agreement.&nbsp;&nbsp;The parties have participated jointly in the negotiation and drafting of this Agreement; therefore any rule of construction or interpretation otherwise requiring this Agreement to be construed or interpreted against any party by virtue of the authorship of this Agreement shall not apply to the construction and interpretation hereof.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-weight:bold;color:#000000;">8</font><font style="display: inline;font-weight:bold;color:#000000;">.</font><font style="display: inline;font-weight:bold;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 29.4pt 0pt 0pt;"></font><font style="display: inline;color:#000000;"></font><font style="display: inline;font-weight:bold;color:#000000;">Participant</font><font style="display: inline;font-weight:bold;color:#000000;">&nbsp;</font><font style="display: inline;font-weight:bold;color:#000000;">Acknowledgment</font><font style="display: inline;color:#000000;">.&nbsp; </font><font style="display: inline;color:#000000;">The Participant</font><font style="display: inline;color:#000000;"> acknowledges that (a) he is knowledgeable and sophisticated as to business matters, including the subject matter of this Agreement, (b) he has read this Agreement and understands its terms and conditions, (c) he has had ample opportunity to discuss this Agreement with his legal counsel and tax advisors prior to execution, and (d) no strict rules of construction shall apply for or ag</font><font style="display: inline;color:#000000;">ainst the drafter or any other p</font><font style="display: inline;color:#000000;">arty.&nbsp;&nbsp;It is the desire of the </font><font style="display: inline;color:#000000;">p</font><font style="display: inline;color:#000000;">arties hereto that this Agreement be enforced to the maximum extent permitted by law, and should any provision contained herein be held invalid or otherwise unenforceable by a court of competent jurisdiction, the </font><font style="display: inline;color:#000000;">p</font><font style="display: inline;color:#000000;">arties hereby agree and confirm that such provision shall be reformed to create a valid and enforceable provision to the maximum extent permitted by law.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-weight:bold;color:#000000;">9</font><font style="display: inline;font-weight:bold;color:#000000;">.</font><font style="display: inline;font-weight:bold;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 29.4pt 0pt 0pt;"></font><font style="display: inline;color:#000000;"></font><font style="display: inline;font-weight:bold;color:#000000;">Compliance with Code Section 409A.</font><font style="display: inline;color:#000000;"> &nbsp;The Restricted Shares awarded under this Agreement are not intended to be subject to </font><font style="display: inline;color:#000000;">Section 409A</font><font style="display: inline;color:#000000;"> of the U.S. Internal Revenue Code of 1986</font><font style="display: inline;color:#000000;">, as amended (&#x201C;</font><font style="display: inline;font-weight:bold;color:#000000;">Section 409A</font><font style="display: inline;color:#000000;">&#x201D;)</font><font style="display: inline;color:#000000;">, including the authoritative guidance issued thereunder, and shall be interpreted and administered to be exempt from the application of Section 409A</font><font style="display: inline;color:#000000;"> to the full extent possible under Section 409A</font><font style="display: inline;color:#000000;">.&nbsp; </font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:24pt;"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;">10</font><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;">.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;text-transform:uppercase;color:#000000;"></font><font style="display: inline;font-weight:bold;color:#000000;">Miscellaneous.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;color:#000000;">a.</font><font style="display: inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 28.8pt 0pt 0pt;"></font><font style="display: inline;color:#000000;"></font><font style="display: inline;font-style:italic;text-decoration:underline;color:#000000;">Certain Transfers Void</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;Any purported transfer of shares of Common Stock in breach of any provision of this Agreement shall be void and ineffective, and shall not operate to transfer any interest or title in the purported transferee.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;color:#000000;">b.</font><font style="display: inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 28.8pt 0pt 0pt;"></font><font style="display: inline;color:#000000;"></font><font style="display: inline;font-style:italic;text-decoration:underline;color:#000000;">No Fractional Shares</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;All provisions of this Agreement concern whole shares of Common Stock.&nbsp;&nbsp;If the application of any provision hereunder would yield a fractional share, such fractional share shall be rounded down to the next whole share if it is less than 0.5 and rounded up to the next whole share if it is 0.5 or more.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;color:#000000;">c.</font><font style="display: inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 28.8pt 0pt 0pt;"></font><font style="display: inline;color:#000000;"></font><font style="display: inline;font-style:italic;text-decoration:underline;color:#000000;">Not an Employment Agreement</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;This Agreement is not an employment agreement, and no provision of this Agreement shall be construed or interpreted to create any employment relationship between </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> and the Company for any </font><font style="display: inline;color:#000000;">guaranteed </font><font style="display: inline;color:#000000;">time period.&nbsp;&nbsp;The </font><font style="display: inline;color:#000000;">e</font><font style="display: inline;color:#000000;">mployment of </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> shall be subject to termination to the same extent as if this Agreement had not been executed.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;color:#000000;">d.</font><font style="display: inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 28.8pt 0pt 0pt;"></font><font style="display: inline;color:#000000;"></font><font style="display: inline;font-style:italic;text-decoration:underline;color:#000000;">Notices</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;Any notice, instruction, authorization, request or demand required hereunder shall be in writing, and shall be delivered either by personal in-hand delivery, by telecopy or similar facsimile means, by certified or registered mail, return receipt requested, or by courier or delivery service, addressed to the Company at its then current main corporate address, and to </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> at his address indicated on the Company&#x2019;s records, or at such other address and number as a party has last previously designated by written notice given to the other party in the manner hereinabove set forth.&nbsp;&nbsp;Notices shall be deemed given when received, if sent by facsimile means (confirmation of such receipt </font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">

			<font style="display: inline;"></font><font style="display: inline;">5</font><font style="display: inline;"></font>

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 12pt 36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt"><font style="display: inline;color:#000000;">by confirmed facsimile transmission being deemed receipt of communications sent by facsimile means); and when delivered and receipted for (or upon the date of attempted delivery where delivery is refused), if hand-delivered, sent by courier or delivery service, or sent by certified or registered mail, return receipt requested.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;color:#000000;">e.</font><font style="display: inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 28.8pt 0pt 0pt;"></font><font style="display: inline;color:#000000;"></font><font style="display: inline;font-style:italic;text-decoration:underline;color:#000000;">Shares Reserved</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;The Company shall, at all times during the period that any Restricted Shares remain subject to this Agreement, reserve under the Plan such number of shares of Common Stock as shall be sufficient to satisfy the requirements of this Agreement.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;color:#000000;">f.</font><font style="display: inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 28.8pt 0pt 0pt;"></font><font style="display: inline;color:#000000;"></font><font style="display: inline;font-style:italic;text-decoration:underline;color:#000000;">Amendment, Termination and Waiver</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;This Agreement may be amended, modified, terminated or superseded only by written instrument executed by or on behalf of the Company and </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;Any waiver of the terms or conditions hereof shall be made only by a written instrument executed and delivered by the party waiving compliance.&nbsp;&nbsp;Any waiver granted by the Company shall be effective only if executed and delivered by a duly authorized executive officer of the Company other than </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;The failure of any party at any time or times to require performance of any provisions hereof shall in no manner affect the right to enforce the same.&nbsp;&nbsp;No waiver by any party of any term or condition herein, or the breach thereof, in one or more instances shall be deemed to be, or construed as, a further or continuing waiver of any such condition or breach or a waiver of any other condition or the breach of any other term or condition.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;color:#000000;">g.</font><font style="display: inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 28.8pt 0pt 0pt;"></font><font style="display: inline;color:#000000;"></font><font style="display: inline;font-style:italic;text-decoration:underline;color:#000000;">No Guarantee of Tax Consequences</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;The Company makes no commitment or guarantee that any tax treatment will apply or be available to </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> or any other person.&nbsp;&nbsp;The </font><font style="display: inline;color:#000000;">Participant</font><font style="display: inline;color:#000000;"> has been advised, and provided with the opportunity, to obtain independent legal and tax advice regarding the grant, vesting, Transfer and the disposition of any Restricted Shares.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;color:#000000;">h.</font><font style="display: inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 28.8pt 0pt 0pt;"></font><font style="display: inline;color:#000000;"></font><font style="display: inline;font-style:italic;text-decoration:underline;color:#000000;">Severability</font><font style="display: inline;color:#000000;">.&nbsp; </font><font style="display: inline;color:#000000;">Any provision of this Agreement which is ruled to be invalid or unenforceable in any applicable jurisdiction shall be ineffective to the extent of such invalidity or unenforceability without invalidating or rendering unenforceable the remaining provisions hereof, and any such invalidity or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;color:#000000;">i.</font><font style="display: inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 28.8pt 0pt 0pt;"></font><font style="display: inline;color:#000000;"></font><font style="display: inline;font-style:italic;text-decoration:underline;color:#000000;">Supersedes Prior Agreements</font><font style="display: inline;color:#000000;">.&nbsp; </font><font style="display: inline;color:#000000;">This Agreement, together with the Plan, shall supersede and replace any and all prior agreements and understandings, oral or written, between the Company and the Participant regarding the grant of the </font><font style="display: inline;color:#000000;">Restricted Shares</font><font style="display: inline;color:#000000;"> covered hereby.&nbsp;&nbsp;All prior negotiations and agreements between the parties with respect to the subject matter hereof are merged into this Agreement.&nbsp;&nbsp;Each party to this Agreement acknowledges that no representations, inducements, promises, or agreements, orally or otherwise, have been made by any party or by anyone acting on behalf of any party, which are not embodied in this Agreement or the Plan and that any agreement, statement, or promise that is not contained in this Agreement or the Plan shall not be valid or binding or of any force or effect.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;color:#000000;">j.</font><font style="display: inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 28.8pt 0pt 0pt;"></font><font style="display: inline;color:#000000;"></font><font style="display: inline;font-style:italic;text-decoration:underline;color:#000000;">Recoupment</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;The Participant acknowledges, understands and agrees, with respect to any</font><font style="display: inline;color:#000000;"> Restricted</font><font style="display: inline;color:#000000;"> Shares delivered to the Participant (or registered in the Participant&#x2019;s name) pursuant to this Agreement, that such Shares shall be subject to recovery by the Company, and the Participant shall be required to repay such compensation </font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">

			<font style="display: inline;"></font><font style="display: inline;">6</font><font style="display: inline;"></font>

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 12pt 36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt"><font style="display: inline;color:#000000;">or shares of Common Stock, in accordance with the Company&#x2019;s clawback policy, as in effect from time to time.&nbsp;&nbsp;The Participant further acknowledges, understands, and agrees that the Board retains the right to modify the Company&#x2019;s clawback policy at any time.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;color:#000000;">k.</font><font style="display: inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 28.8pt 0pt 0pt;"></font><font style="display: inline;color:#000000;"></font><font style="display: inline;font-style:italic;text-decoration:underline;color:#000000;">Governing Law</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;The Agreement shall be construed in accordance with the laws of the State of </font><font style="display: inline;color:#000000;">Delaware</font><font style="display: inline;color:#000000;">, without regard to its conflict of law provisions, to the extent federal law does not supersede and preempt </font><font style="display: inline;color:#000000;">Delaware </font><font style="display: inline;color:#000000;">law.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;color:#000000;">l.</font><font style="display: inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 28.8pt 0pt 0pt;"></font><font style="display: inline;color:#000000;"></font><font style="display: inline;font-style:italic;text-decoration:underline;color:#000000;">Successors and Assigns</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;This Agreement shall bind, be enforceable by, and inure to the benefit of, the Company and </font><font style="display: inline;color:#000000;">the Participant</font><font style="display: inline;color:#000000;"> and any permitted successors and assigns under the Plan.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent: -18pt;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;color:#000000;">11</font><font style="display: inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 10.8pt 0pt 0pt;"></font><font style="display: inline;color:#000000;"></font><font style="display: inline;font-weight:bold;color:#000000;">Survival of Certain Provisions</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;Wherever appropriate to the intention of the </font><font style="display: inline;color:#000000;">p</font><font style="display: inline;color:#000000;">arties</font><font style="display: inline;color:#000000;"> hereto</font><font style="display: inline;color:#000000;">, the respective rights and obligations of the </font><font style="display: inline;color:#000000;">p</font><font style="display: inline;color:#000000;">arties hereunder shall survive any termination or expiration of this Agreement.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent: -18pt;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;color:#000000;">12</font><font style="display: inline;color:#000000;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 10.8pt 0pt 0pt;"></font><font style="display: inline;color:#000000;"></font><font style="display: inline;font-weight:bold;color:#000000;">Signature in Counterparts</font><font style="display: inline;color:#000000;">.&nbsp;&nbsp;This Agreement may be signed in counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.&nbsp;&nbsp;The parties agree that the delivery of this Agreement may be effected by means of an exchange of facsimile signatures which shall be deemed original signatures thereof.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;color:#000000;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-style:italic;color:#000000;">[Signature page follows.]</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">

			<font style="display: inline;"></font><font style="display: inline;">7</font><font style="display: inline;"></font>

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;;font-size: 12pt"><font style="display: inline;font-weight:bold;"></font><font style="display: inline;font-weight:bold;">IN WITNESS WHEREOF</font><font style="display: inline;">, this Restricted Stock Agreement is made and entered into as of the date first written above.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 216pt;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-weight:bold;">VAALCO Energy</font><font style="display: inline;font-weight:bold;">,</font><font style="display: inline;font-weight:bold;"> Inc.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 216pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 12pt 216pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">By:</font><font style="display: inline;">__________________________________</font>
		</p>
		<p style="margin:0pt 0pt 12pt 216pt;text-align:left;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">Name:</font><font style="display: inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;"></font><font style="display: inline;">Cary Bounds</font><br /><font style="display: inline;"></font><font style="display: inline;">Title:</font><font style="display: inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;"></font><font style="display: inline;">Chief Executive Officer</font>
		</p>
		<p style="margin:0pt 0pt 12pt 216pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-style:italic;">Address for Notices:</font>
		</p>
		<p style="margin:0pt 0pt 0pt 216pt;text-align:left;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">VAALCO Energy</font><font style="display: inline;">,</font><font style="display: inline;"> Inc.</font><br /><font style="display: inline;"></font><font style="display: inline;">9800 Richmond Ave.</font><br /><font style="display: inline;">Suite </font><font style="display: inline;">7</font><font style="display: inline;">00</font><br /><font style="display: inline;">Houston, TX 770</font><font style="display: inline;">42</font>
		</p>
		<p style="margin:0pt 0pt 12pt 216pt;text-align:left;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">Attn:</font><font style="display: inline;"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 216pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;text-decoration:underline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 12pt 216pt;text-align:left;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-weight:bold;">Participant:</font>
		</p>
		<p style="margin:0pt 0pt 12pt 216pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 12pt 216pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">__________________________________</font>
		</p>
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			<font style="display: inline;">Signature</font>
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			<font style="display: inline;font-style:italic;">Address for Notices:</font>
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			<font style="display: inline;">&#xFEFF;</font>
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			<font style="display: inline;"></font><font style="display: inline;">8</font><font style="display: inline;"></font>

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<!--Created on: 6/30/2020 1:29:49 PM-->
<html>
	<head>
		<title>
			Exhibit 104
		</title>
	</head>
	<body><div style="margin-left:72pt;margin-right:72pt;"><div style="width:100%">

		<p style="margin:0pt;text-align:right;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;font-weight:bold;">Exhibit 10.4</font>

		</p>

		<p style="margin:0pt;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;"><img src="egy-20200630xex10_4g001.jpg" style="width: 0.6145068in; height: 0.5207677in" alt="Picture 1"></font>

		</p>

		<p style="margin:0pt;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

		<p style="margin:0pt;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;font-weight:bold;">VAALCO ENERGY, INC.</font>

		</p>

		<p style="margin:0pt;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;font-weight:bold;">2020 LONG TERM INCENTIVE PLAN</font>

		</p>

		<p style="margin:0pt;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;font-weight:bold;">NONQUALIFIED </font><font style="display: inline;font-weight:bold;">STOCK OPTION AGREEMENT</font><br /><font style="display: inline;font-weight:bold;">FOR EMPLOYEE</font>

		</p>

</div>
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			<a name="_GoBack"></a><br /><font style="display: inline;font-weight:bold;"></font>
		</p>
		<p style="margin:0pt;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-weight:bold;font-style:italic;">Participant</font><font style="display: inline;font-weight:bold;font-style:italic;">:</font><font style="display: inline;font-weight:bold;"> &nbsp; &nbsp;</font><font style="display: inline;font-weight:bold;">___________</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-weight:bold;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display: inline;font-weight:bold;">1.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;">Grant of Stock Option</font><font style="display: inline;">.&nbsp;&nbsp;As of the </font><font style="display: inline;font-weight:bold;">Date of Grant</font><font style="display: inline;"> (identified in </font><font style="display: inline;text-decoration:underline;">Section </font><font style="display: inline;font-weight:bold;text-decoration:underline;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;">19</font><font style="display: inline;font-weight:bold;text-decoration:underline;"></font><font style="display: inline;"> below), </font><font style="display: inline;">VAALCO Energy</font><font style="display: inline;">, Inc., a Delaware corporation</font><font style="display: inline;"> (the </font><font style="display: inline;">&#x201C;</font><font style="display: inline;font-weight:bold;">Company</font><font style="display: inline;">&#x201D;</font><font style="display: inline;">) hereby grants a </font><font style="display: inline;">Nonqualified</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">Stock Option (the </font><font style="display: inline;">&#x201C;</font><font style="display: inline;font-weight:bold;">Option</font><font style="display: inline;">&#x201D;</font><font style="display: inline;">) to the </font><font style="display: inline;font-weight:bold;">Participant</font><font style="display: inline;"> (identified above), an </font><font style="display: inline;">E</font><font style="display: inline;">mployee of the Company, to purchase the number of shares of the Company</font><font style="display: inline;">&#x2019;</font><font style="display: inline;">s common stock, $</font><font style="display: inline;">0</font><font style="display: inline;">.10</font><font style="display: inline;"> par value per share (the </font><font style="display: inline;">&#x201C;</font><font style="display: inline;font-weight:bold;">Common Stock</font><font style="display: inline;">&#x201D;</font><font style="display: inline;">), </font><font style="display: inline;">as </font><font style="display: inline;">identified in </font><font style="display: inline;text-decoration:underline;">Section </font><font style="display: inline;font-weight:bold;text-decoration:underline;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;">19</font><font style="display: inline;font-weight:bold;text-decoration:underline;"></font><font style="display: inline;"> below (the </font><font style="display: inline;">&#x201C;</font><font style="display: inline;font-weight:bold;">Shares</font><font style="display: inline;">&#x201D;</font><font style="display: inline;">), subject to the terms and conditions of this agreement (the </font><font style="display: inline;">&#x201C;</font><font style="display: inline;">Agreement</font><font style="display: inline;">&#x201D;</font><font style="display: inline;">) and the </font><font style="display: inline;">VAALCO Energy, Inc. </font><font style="display: inline;">20</font><font style="display: inline;">20</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">Long Term </font><font style="display: inline;">Incentive Plan (the </font><font style="display: inline;">&#x201C;</font><font style="display: inline;">Plan</font><font style="display: inline;">&#x201D;</font><font style="display: inline;">).&nbsp;&nbsp;The Plan is hereby incorporated herein in its entirety by reference.&nbsp;&nbsp;The Shares, when issued to </font><font style="display: inline;">the Participant</font><font style="display: inline;"> upon exercise of the Option, shall be fully paid and nonassessable.&nbsp;&nbsp;The Option is not an </font><font style="display: inline;">&#x201C;</font><font style="display: inline;">incentive stock option</font><font style="display: inline;">&#x201D;</font><font style="display: inline;"> as defined in Section 422 of the Code.</font><font style="display: inline;"> &nbsp;The Option is a Nonqualified Stock Option that is intended to comply with the provisions governing nonqualified stock options under the final Treasury Regulations issued on April 17, 2007, in order to exempt this Option from application of Section 409A of the Code.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display: inline;font-weight:bold;">2.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;">Definitions</font><font style="display: inline;">.</font><font style="display: inline;"> &nbsp; &nbsp;</font><font style="display: inline;">All capitalized terms used herein shall have the meanings set forth in the Plan unless otherwise provided herein. </font><font style="display: inline;text-decoration:underline;">Section </font><font style="display: inline;font-weight:bold;text-decoration:underline;"></font><font style="display: inline;text-decoration:underline;"></font><font style="display: inline;text-decoration:underline;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;"></font><font style="display: inline;text-decoration:underline;">19</font><font style="display: inline;font-weight:bold;text-decoration:underline;"></font><font style="display: inline;">&nbsp;</font><font style="display: inline;">set</font><font style="display: inline;">s</font><font style="display: inline;"> forth </font><font style="display: inline;">definitions </font><font style="display: inline;">for certain of the capitalized terms used in this Agreement.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<a name="_Ref318373640"></a><font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display: inline;font-weight:bold;">3.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;">Option Term</font><font style="display: inline;">.</font><font style="display: inline;"> &nbsp;The Option shall commence on the </font><font style="display: inline;">Date of Grant</font><font style="display: inline;"> (identified in </font><font style="display: inline;text-decoration:underline;">Section&nbsp;1</font><font style="display: inline;text-decoration:underline;">9</font><font style="display: inline;"> below) and terminate on the</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">10</font><font style="display: inline;font-size:6pt;vertical-align:super;line-height:100%">th</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">anniversary of the </font><font style="display: inline;">Date of Grant</font><font style="display: inline;"> as specified in </font><font style="display: inline;text-decoration:underline;">Section&nbsp;1</font><font style="display: inline;text-decoration:underline;">9</font><font style="display: inline;">. The period during which the Option is in effect and may be exercised is referred to herein as the </font><font style="display: inline;">&#x201C;</font><font style="display: inline;">Option Period</font><font style="display: inline;">&#x201D;</font><font style="display: inline;">.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display: inline;font-weight:bold;">4.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;">Option Price</font><font style="display: inline;">.</font><font style="display: inline;"> &nbsp;The Option Price per Share is identified in </font><font style="display: inline;text-decoration:underline;">Section </font><font style="display: inline;font-weight:bold;text-decoration:underline;"></font><font style="display: inline;text-decoration:underline;"></font><font style="display: inline;text-decoration:underline;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;"></font><font style="display: inline;text-decoration:underline;">19</font><font style="display: inline;font-weight:bold;text-decoration:underline;"></font><font style="display: inline;">.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display: inline;font-weight:bold;">5.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;">Vesting</font><font style="display: inline;">.</font><font style="display: inline;"> &nbsp;The total number of Shares subject to this Option shall vest in accordance with the </font><font style="display: inline;">vesting schedule </font><font style="display: inline;">described in </font><font style="display: inline;text-decoration:underline;">Section </font><font style="display: inline;font-weight:bold;text-decoration:underline;"></font><font style="display: inline;text-decoration:underline;"></font><font style="display: inline;text-decoration:underline;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;"></font><font style="display: inline;text-decoration:underline;">19</font><font style="display: inline;font-weight:bold;text-decoration:underline;"></font><font style="display: inline;"> (the &#x201C;</font><font style="display: inline;font-weight:bold;">Vesting Schedule</font><font style="display: inline;">&#x201D;)</font><font style="display: inline;">.&nbsp;&nbsp;The Shares may be purchased at any time after they become vested, in whole or in part, during the Option Period; provided, however, the Option may only be exercisable to acquire whole Shares.&nbsp;&nbsp;The right of exercise provided herein shall be cumulative so that if the Option is not exercised to the maximum extent permissible after vesting, the vested portion of the Option shall be exercisable, in whole or in part, at any time during the Option Period. </font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display: inline;font-weight:bold;">6.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;">Method of Exercise</font><font style="display: inline;font-weight:bold;">.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(a)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;text-decoration:underline;">Stock Option Exercise Agreement</font><font style="display: inline;">.&nbsp;&nbsp;To </font><font style="display: inline;">exercise this Option, the Participant</font><font style="display: inline;"> (or in the case of exercise after </font><font style="display: inline;">the Participant</font><font style="display: inline;">&#x2019;</font><font style="display: inline;">s death or incapacity, </font><font style="display: inline;">the Participant</font><font style="display: inline;">&#x2019;</font><font style="display: inline;">s executor, administrator, heir or legatee, as the case may be) must deliver to the Company an executed stock option exercise agreement in the form </font><font style="display: inline;">provided by the Company </font><font style="display: inline;">(the </font><font style="display: inline;">&#x201C;</font><font style="display: inline;font-weight:bold;">Exercise Agreement</font><font style="display: inline;">&#x201D;</font><font style="display: inline;">), which shall set forth, </font><font style="display: inline;font-style:italic;">inter alia</font><font style="display: inline;">, (a) </font><font style="display: inline;">the Participant</font><font style="display: inline;">&#x2019;</font><font style="display: inline;">s election to exercise the Option, (b) the number of Shares being purchased, (c) any restrictions imposed </font>
		</font>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt"><font style="display: inline;">on the Shares, and (d) any representations, warranties </font><font style="display: inline;">or</font><font style="display: inline;"> agreements regarding </font><font style="display: inline;">the Participant</font><font style="display: inline;">&#x2019;</font><font style="display: inline;">s investment intent and access to information as may be required by the Company to comply with applicable securities laws.&nbsp;&nbsp;If someone other than </font><font style="display: inline;">the Participant</font><font style="display: inline;"> exercises the Option, then such person must submit documentation reasonably acceptable to the Company verifying that such person has the legal right to exercise the Option.</font><font style="display: inline;">&nbsp;</font><font style="display: inline;"> The </font><font style="display: inline;">Participant</font><font style="display: inline;"> may withdraw notice of exercise of th</font><font style="display: inline;">e</font><font style="display: inline;"> Option, in writing, at any time prior to the close of business on the business day that immediately precedes the proposed exercise date.</font></p>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(b)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;text-decoration:underline;">Limitations on Exercise</font><font style="display: inline;">.&nbsp;&nbsp;The Option may not be exercised unless such exercise is in compliance with all applicable federal, state and foreign securities laws, as in effect on the date of exercise.&nbsp;&nbsp;The Option may not be exercised for fewer than one Share or for a fractional Share.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display: inline;font-weight:bold;">7.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;">Method of Payment</font><font style="display: inline;">.</font><font style="display: inline;"> &nbsp;Subject to applicable provisions of the Plan, the Option Price upon exercise of the Option shall be payable to the Company in full either: (i) in cash or its equivalent; (ii) subject to prior approval by the Committee in its discretion, by tendering previously acquired</font><font style="display: inline;">, unrestricted</font><font style="display: inline;"> Shares having an aggregate Fair Market Value (as defined in the Plan) at the time of exercise equal to the total Option Price</font><font style="display: inline;">, other than unrestricted shares acquired from the Company within six months prior to the date of exercise</font><font style="display: inline;">; (iii) subject to prior approval by the Committee in its discretion, by withholding Shares which otherwise would be acquired on exercise having an aggregate Fair Market Value at the time of exercise equal to the total Option Price; or (iv) any other permitted method pursuant to the applicable terms and conditions of the Plan</font><font style="display: inline;"> and applicable law</font><font style="display: inline;"> that is acceptable to the Committee</font><font style="display: inline;">.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">As soon as practicable after receipt of a written notification of exercise and full payment, the Company shall </font><font style="display: inline;">register for </font><font style="display: inline;">or on behalf of the </font><font style="display: inline;">Participant</font><font style="display: inline;">, in the name of the </font><font style="display: inline;">Participant</font><font style="display: inline;"> or other appropriate recipient, </font><font style="display: inline;">the </font><font style="display: inline;">Share</font><font style="display: inline;">s, but shall not deliver</font><font style="display: inline;"> certificates or other evidence of ownership for the number of Shares purchased under the Option</font><font style="display: inline;"> unless requested by the Participant in accordance with Section 8.3(c) of the Plan</font><font style="display: inline;">. &nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">Payment of the Option Price by a </font><font style="display: inline;">Participant</font><font style="display: inline;"> who is an officer, director or other </font><font style="display: inline;">&#x201C;</font><font style="display: inline;">insider</font><font style="display: inline;">&#x201D;</font><font style="display: inline;"> subject to Section 16(b) of the 1934 Act in the form of a </font><font style="display: inline;">s</font><font style="display: inline;">tock for </font><font style="display: inline;">s</font><font style="display: inline;">tock </font><font style="display: inline;">e</font><font style="display: inline;">xercise is subject to pre-approval by the Committee, in its discretion, in a manner that complies with the specificity requirements of </font><font style="display: inline;">SEC </font><font style="display: inline;">Rule 16b-3</font><font style="display: inline;">.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">Notwithstanding the foregoing, if there is a stated par value of the Shares and applicable law </font><font style="display: inline;">so </font><font style="display: inline;">requires, </font><font style="display: inline;">the</font><font style="display: inline;">n</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">the par value of the Shares, if newly issued, shall be paid in cash or cash equivalents.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display: inline;font-weight:bold;">8.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;">Restrictions on Exercise</font><font style="display: inline;">.</font><font style="display: inline;"> &nbsp;The Option may not be exercised if the issuance of such Shares or the method of payment of the consideration for such Shares would constitute a violation of any applicable federal or state securities or other laws or regulations, or any rules or regulations of any stock exchange on which the Common Stock may be listed</font><font style="display: inline;">, as determined by legal counsel for the Company</font><font style="display: inline;">.&nbsp;&nbsp;In addition, </font><font style="display: inline;">the Participant</font><font style="display: inline;"> understands and agrees that the Option cannot be exercised if the Company determines that such exercise, at the time of such exercise, </font><font style="display: inline;">would</font><font style="display: inline;"> be in violation of the Company</font><font style="display: inline;">&#x2019;</font><font style="display: inline;">s insider trading policy.</font></font>
		</p>
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		</p>
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		<p style="margin:0pt;text-align:right;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

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		<p style="margin:0pt;text-align:right;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;"></font><font style="display: inline;">2</font><font style="display: inline;"></font>

		</p>

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		<p style="margin:0pt 0pt 12pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman;;font-size: 12pt"><font style="display: inline;font-weight:bold;"></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<a name="_Hlk42529796"></a><font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display: inline;font-weight:bold;">9.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;">Termination of Service</font><font style="display: inline;">.</font><font style="display: inline;"> &nbsp;Voluntary or involuntary </font><font style="display: inline;">T</font><font style="display: inline;">ermination of Service shall affect </font><font style="display: inline;">the Participant</font><font style="display: inline;">&#x2019;</font><font style="display: inline;">s rights under the Option as follows:</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(a)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;text-decoration:underline;">Termination for Cause</font><font style="display: inline;">.&nbsp;&nbsp;The entire Option, including any vested portion thereof, shall expire and terminate on the date of </font><font style="display: inline;">the Participant&#x2019;s Termination of Service</font><font style="display: inline;"> and shall not be exercisable to any extent if </font><font style="display: inline;">the Participant</font><font style="display: inline;">&#x2019;</font><font style="display: inline;">s &nbsp;</font><font style="display: inline;">Termination of Service is</font><font style="display: inline;"> for Cause (as defined in </font><font style="display: inline;">subsection (e) below</font><font style="display: inline;">) effective as of 12:01 a.m. (CST) on the date of such </font><font style="display: inline;">Termination of Service</font><font style="display: inline;">.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(b)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;text-decoration:underline;">Retirement</font><font style="display: inline;">.&nbsp; </font><font style="display: inline;">In the event of </font><font style="display: inline;">the Participant</font><font style="display: inline;">&#x2019;s Retirement at or after attaining (i)&nbsp;age 65 and (</font><font style="display: inline;">ii)&nbsp;at least ten (10) years of e</font><font style="display: inline;">mployment service, all of the Options shall become 100% vested as of the date of </font><font style="display: inline;">Termination of Service</font><font style="display: inline;">.&nbsp; </font><font style="display: inline;">Upon the </font><font style="display: inline;">Termination of Service</font><font style="display: inline;"> due to the</font><font style="display: inline;"> Participant</font><font style="display: inline;">&#x2019;</font><font style="display: inline;">s Retirement</font><font style="display: inline;"> at or after attaining age 65</font><font style="display: inline;"> bu</font><font style="display: inline;">t without ten (10) years of e</font><font style="display: inline;">mployment </font><font style="display: inline;">s</font><font style="display: inline;">ervice, </font><font style="display: inline;">subject to the </font><font style="display: inline;">V</font><font style="display: inline;">esting </font><font style="display: inline;">S</font><font style="display: inline;">chedule, </font><font style="display: inline;">any</font><font style="display: inline;"> non-vested portion of the Option shall immediately </font><font style="display: inline;">terminate,</font><font style="display: inline;"> and no further vesting shall occur</font><font style="display: inline;">.&nbsp;&nbsp;A</font><font style="display: inline;">ny vested Option shall expire on the expiration of six&nbsp;(6) months after the date of </font><font style="display: inline;">Termination of Service</font><font style="display: inline;"> due to Retirement</font><font style="display: inline;">; provided, however, in no event may the Option be exercised by anyone after expiration of the Option Period</font><font style="display: inline;">.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(c)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;text-decoration:underline;">Death or </font><font style="display: inline;text-decoration:underline;">Total and Permanent Disability</font><font style="display: inline;">.&nbsp;&nbsp;If </font><font style="display: inline;">the Participant</font><font style="display: inline;">&#x2019;</font><font style="display: inline;">s &nbsp;</font><font style="display: inline;">Termination of Service is</font><font style="display: inline;"> due to death or </font><font style="display: inline;">Total and Permanent Disability</font><font style="display: inline;"> (as defined in the Plan at the time of such termination), then (i</font><font style="display: inline;">)&nbsp;subject to the </font><font style="display: inline;">V</font><font style="display: inline;">esting </font><font style="display: inline;">S</font><font style="display: inline;">chedule, </font><font style="display: inline;">any</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">non-vested portion of the Option shall</font><font style="display: inline;"> become 100% vested </font><font style="display: inline;"> on the </font><font style="display: inline;">Termination of Service</font><font style="display: inline;"> date</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">and (ii) </font><font style="display: inline;">any </font><font style="display: inline;">vested portion of the Option shall expire on the one</font><font style="display: inline;">-</font><font style="display: inline;">year anniversary date of the </font><font style="display: inline;">Termination of Service</font><font style="display: inline;"> (to the extent not previously exercised by </font><font style="display: inline;">the Participant</font><font style="display: inline;">) or, in the case of death, by the person or persons to whom </font><font style="display: inline;">the Participant</font><font style="display: inline;">&#x2019;</font><font style="display: inline;">s rights under the Option have passed by will or by the laws of descent and distribution or, in the case of </font><font style="display: inline;">Total and Permanent Disability</font><font style="display: inline;">, by </font><font style="display: inline;">the Participant</font><font style="display: inline;"> or </font><font style="display: inline;">the Participant</font><font style="display: inline;">&#x2019;</font><font style="display: inline;">s legal representative; provided, however, in no event may the Option be exercised by anyone after expiration of the Option Period.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(d)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;text-decoration:underline;">Other Involuntary Termination or Voluntary Termination</font><font style="display: inline;">.&nbsp;&nbsp;If </font><font style="display: inline;">the Participant</font><font style="display: inline;">&#x2019;</font><font style="display: inline;">s &nbsp;</font><font style="display: inline;">incurs a Termination of Service</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">for whatever reason, </font><font style="display: inline;">or </font><font style="display: inline;">the Participant</font><font style="display: inline;"> resigns </font><font style="display: inline;">for any reason, </font><font style="display: inline;">either </font><font style="display: inline;">voluntarily or involuntarily, except for Cause, Retirement, death or </font><font style="display: inline;">Total and Permanent Disability</font><font style="display: inline;"> as set out above</font><font style="display: inline;">, then (i)&nbsp;</font><font style="display: inline;">subject to the </font><font style="display: inline;">V</font><font style="display: inline;">esting </font><font style="display: inline;">S</font><font style="display: inline;">chedule, </font><font style="display: inline;">any</font><font style="display: inline;"> non-vested portion of the Option shall immediately expire on the </font><font style="display: inline;">Termination of Service</font><font style="display: inline;"> date and (ii)&nbsp;</font><font style="display: inline;">any</font><font style="display: inline;"> vested portion of the Option shall expire to the extent not exercised within one hundred twenty (120) days after such </font><font style="display: inline;">Termination of Service</font><font style="display: inline;">; provided, however, in no event may the Option be exercised by anyone after expiration of the Option Period.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">(e)</font><font style="display: inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 25.2pt 0pt 0pt;"></font><font style="display: inline;"></font><font style="display: inline;">For purposes hereof, &#x201C;</font><font style="display: inline;font-weight:bold;">Cause</font><font style="display: inline;">&#x201D; means (i) &#x201C;</font><font style="display: inline;font-weight:bold;">Cause</font><font style="display: inline;">&#x201D; as defined in any employment or other written agreement by and between the Participant and the Company </font><font style="display: inline;">or a Subsidiary </font><font style="display: inline;">or (ii) in the absence of such an agreement or such a definition in any such agreement, &#x201C;</font><font style="display: inline;font-weight:bold;">Cause</font><font style="display: inline;">&#x201D; shall mean</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">the termination of the </font><font style="display: inline;">Participant</font><font style="display: inline;">&#x2019;s </font><font style="display: inline;">employment</font><font style="display: inline;"> by the Company or any </font><font style="display: inline;">Subsidiary by reason of (A</font><font style="display: inline;">) the conviction of the </font><font style="display: inline;">Participant</font><font style="display: inline;"> by a court of competent jurisdiction as to which no further appeal can be taken of a crime involving</font><font style="display: inline;"> moral turpitude or a felony; (B</font><font style="display: inline;">) the commission by the </font><font style="display: inline;">Participant</font><font style="display: inline;"> of a material act of fraud upon the Company or any </font><font style="display: inline;">Subsidiary</font><font style="display: inline;">, or any c</font><font style="display: inline;">ustomer or supplier thereof; (C</font><font style="display: inline;">) the </font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:right;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

		<p style="margin:0pt;text-align:right;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

		<p style="margin:0pt;text-align:right;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;"></font><font style="display: inline;">3</font><font style="display: inline;"></font>

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt"><font style="display: inline;">misappropriation of any funds or property of the Company or any </font><font style="display: inline;">Subsidiary</font><font style="display: inline;">, or any c</font><font style="display: inline;">ustomer or supplier thereof; (D</font><font style="display: inline;">) the willful and continued failure by the </font><font style="display: inline;">Participant</font><font style="display: inline;"> to perform the material duties assigned to him that is not cured to the reasonable satisfaction of the Company within 30 days after written notice of such failure is provided to </font><font style="display: inline;">the Participant</font><font style="display: inline;"> by the Board or </font><font style="display: inline;">the Company&#x2019;s Chief Executive Officer (&#x201C;</font><font style="display: inline;font-weight:bold;">CEO</font><font style="display: inline;">&#x201D;)</font><font style="display: inline;"> (or by another officer of the Company or an </font><font style="display: inline;">Subsidiary</font><font style="display: inline;"> who has been designated by the Bo</font><font style="display: inline;">ard or CEO for such purpose); (E</font><font style="display: inline;">) the engagement by the </font><font style="display: inline;">Participant</font><font style="display: inline;"> in any direct and material conflict of interest with the Company or any </font><font style="display: inline;">Subsidiary</font><font style="display: inline;"> without compliance with the Company&#x2019;s or </font><font style="display: inline;">a Subsidiary</font><font style="display: inline;">&#x2019;s conflict of interest policy,</font><font style="display: inline;"> if any, then in effect; or (F</font><font style="display: inline;">) the engagement by the </font><font style="display: inline;">Participant</font><font style="display: inline;">, without the written approval of the Board or CEO, in any material activity which competes with the business of the Company or any </font><font style="display: inline;">Subsidiary</font><font style="display: inline;"> or which would result in a material injury to the business, reputation or goodwill of the Company or any </font><font style="display: inline;">Subsidiary.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:22pt;"><font style="display: inline;font-weight:bold;">10.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;">Independent Legal and Tax Advice</font><font style="display: inline;">.</font><font style="display: inline;"> &nbsp; &nbsp;</font><font style="display: inline;">The Participant</font><font style="display: inline;"> acknowledges that the Company has advised </font><font style="display: inline;">the Participant</font><font style="display: inline;"> to obtain independent legal and tax advice regarding the grant and exercise of the Option and the disposition of any Shares acquired thereby.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:22pt;"><font style="display: inline;font-weight:bold;">11.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;">Reorganization of Company</font><font style="display: inline;">.</font><font style="display: inline;"> &nbsp;The existence of the Option shall not affect in any way the right or power of the Company or its </font><font style="display: inline;">stockholders</font><font style="display: inline;"> to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in Company</font><font style="display: inline;">&#x2019;</font><font style="display: inline;">s capital structure or its business, or any merger or consolidation of the Company, or any issue of bonds, debentures, preferred or prior preference stock ahead of or affecting the Shares or the rights thereof, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:22pt;"><font style="display: inline;font-weight:bold;">12.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;">Adjustment of Shares</font><font style="display: inline;">.</font><font style="display: inline;"> &nbsp;In the event of stock dividends, spin-offs of assets or other extraordinary dividends, stock splits, combinations of shares, recapitalizations, mergers, consolidations, reorganizations, liquidations, issuances of rights or warrants and similar transactions or events involving Company, appropriate adjustments </font><font style="display: inline;">may </font><font style="display: inline;">be made to the terms and provisions of the Option as provided in </font><font style="display: inline;">Articles 11-14 of </font><font style="display: inline;">the Plan.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:22pt;"><font style="display: inline;font-weight:bold;">13.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;">No Rights in Shares</font><font style="display: inline;">.</font><font style="display: inline;"> &nbsp; &nbsp;</font><font style="display: inline;">The Participant</font><font style="display: inline;"> shall have no rights as a </font><font style="display: inline;">stockholder</font><font style="display: inline;"> in respect of the Shares until the </font><font style="display: inline;">Participant</font><font style="display: inline;"> becomes the record holder of such Shares.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:22pt;"><font style="display: inline;font-weight:bold;">14.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;">Investment Representation</font><font style="display: inline;">.</font><font style="display: inline;">&nbsp;</font><font style="color:#000000;font-size:12pt;display: inline;">&nbsp;</font><font style="color:#000000;font-size:12pt;display: inline;">The </font><font style="display: inline;">Participant</font><font style="display: inline;"> will enter into such written representations, warranties and agreements as Company may reasonably request in order to comply with any federal or state securities law.&nbsp;&nbsp;Moreover, any stock certificate for any Shares issued to </font><font style="display: inline;">the Participant</font><font style="display: inline;"> hereunder may contain a legend restricting their transferability as determined by the Company in its discretion.&nbsp; </font><font style="display: inline;">The Participant</font><font style="display: inline;"> agrees that Company shall not be obligated to take any affirmative action in order to cause the issuance or transfer of Shares hereunder to comply with any law, rule or regulation that applies to the Shares subject to the Option. </font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:22pt;"><font style="display: inline;font-weight:bold;">15.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;">No Guarantee of Employment</font><font style="display: inline;">.</font><font style="display: inline;"> &nbsp;The Option shall not confer upon </font><font style="display: inline;">the Participant</font><font style="display: inline;"> any right to continued </font><font style="display: inline;">e</font><font style="display: inline;">mployment </font><font style="display: inline;">(or any other relationship) </font><font style="display: inline;">with the Company or any affiliate thereof.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:22pt;"><font style="display: inline;font-weight:bold;">16.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;">Participant</font><font style="display: inline;font-weight:bold;text-decoration:underline;"> Confidentiality Obligations</font><font style="display: inline;">.</font><font style="display: inline;"> &nbsp;In accepting the Option, </font><font style="display: inline;">the Participant</font><font style="display: inline;"> acknowledges that </font><font style="display: inline;">the Participant</font><font style="display: inline;"> is obligated under Company</font><font style="display: inline;">&#x2019;</font><font style="display: inline;">s policy and applicable law to </font>
		</font>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:right;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

		<p style="margin:0pt;text-align:right;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

		<p style="margin:0pt;text-align:right;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;"></font><font style="display: inline;">4</font><font style="display: inline;"></font>

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt"><font style="display: inline;">protect and safeguard the confidentiality of trade secrets and other proprietary and confidential information belonging to the Company and its affiliates, and that such obligations continue beyond </font><font style="display: inline;">Termination of Service</font><font style="display: inline;">. &nbsp;</font></p>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:22pt;"><font style="display: inline;font-weight:bold;">17.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;">Withholding of Taxes</font><font style="display: inline;">.</font><font style="display: inline;"> &nbsp;The Company (or if applicable, any S</font><font style="display: inline;">ubsidiary, and for purposes of this Section 17, the term &#x201C;Company&#x201D; shall be deemed to include any applicable Subsidiary)</font><font style="display: inline;"> shall have the right to (a) make deductions from the number of Shares otherwise deliverable upon exercise of the Option in an amount sufficient to satisfy withholding of any federal, state or local taxes required by law, or (b) take such other action</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">as may be necessary or appropriate to satisfy any such tax withholding obligations</font><font style="display: inline;">, including, without limitation, requiring the Participant to pay the Company the amount of any taxes that the Company is required to withhold</font><font style="display: inline;">.</font><font style="display: inline;"> &nbsp; &nbsp;</font><font style="display: inline;">Such payments shall be required to be made when requested by the Company and may be required to be made prior to the delivery of any certificate or the registration of such shares in t</font><font style="display: inline;">he Participant&#x2019;s name for such S</font><font style="display: inline;">hares</font><font style="display: inline;">.</font><font style="display: inline;"> &nbsp;&nbsp;The Company may, in its sole discretion, withhold any such taxes from any other cash remuneration otherwise paid by the Company to the Participant.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:22pt;"><font style="display: inline;font-weight:bold;">18.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;">General</font><font style="display: inline;">.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(a)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;text-decoration:underline;">Notices</font><font style="display: inline;">.&nbsp;&nbsp;All notices under this Agreement shall be mailed or delivered by hand to the parties at their respective addresses set forth beneath their signatures below or at such other address as may be designated in writing by either of the parties to one another, or to their permitted transferees if applicable.&nbsp;&nbsp;Notices shall be effective upon receipt.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(b)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;text-decoration:underline;">Shares Reserved</font><font style="display: inline;">.&nbsp;&nbsp;The Company shall at all times during the Option Period reserve and keep available under the Plan such number of Shares as shall be sufficient to satisfy the requirements of this Option.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(c)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;text-decoration:underline;">Transferability of Option</font><font style="display: inline;">.&nbsp;&nbsp;The Option is transferable only to the extent permitted under the Plan at the time of transfer (i) by will or by the laws of descent and distribution, (ii) by a qualified domestic relations order (as defined in Section 414(p) of the Code), or (iii) to </font><font style="display: inline;">the Participant</font><font style="display: inline;">&#x2019;</font><font style="display: inline;">s &nbsp;</font><font style="display: inline;">i</font><font style="display: inline;">mmediate </font><font style="display: inline;">f</font><font style="display: inline;">amily or entities established for the benefit of, or solely owned by, the </font><font style="display: inline;">Participant</font><font style="display: inline;">&#x2019;</font><font style="display: inline;">s &nbsp;</font><font style="display: inline;">i</font><font style="display: inline;">mmediate </font><font style="display: inline;">f</font><font style="display: inline;">amily, but only </font><font style="display: inline;">if, and </font><font style="display: inline;">to the extent</font><font style="display: inline;">,</font><font style="display: inline;"> permitted under the Plan.&nbsp;&nbsp;No right or benefit hereunder shall in any manner be liable for or subject to any debts, contracts, liabilities, obligations or torts of </font><font style="display: inline;">the Participant</font><font style="display: inline;"> or any permitted transferee thereof.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(d)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;text-decoration:underline;">Amendment and Termination</font><font style="display: inline;">.&nbsp;&nbsp;No amendment, modification or termination of this Agreement shall be made at any time without the written consent of </font><font style="display: inline;">the Participant</font><font style="display: inline;"> and Company. </font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(e)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;text-decoration:underline;">No Guarantee of Tax Consequences</font><font style="display: inline;">.&nbsp;&nbsp;The Company makes no commitment or guarantee that any tax treatment will apply or be available to </font><font style="display: inline;">the Participant</font><font style="display: inline;"> or any other person.&nbsp;&nbsp;The </font><font style="display: inline;">Participant</font><font style="display: inline;"> has been advised, and provided with the opportunity, to obtain independent legal and tax advice regarding the grant and exercise of the Option and the disposition of any Shares acquired thereby.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:25pt;"><font style="display: inline;color:#000000;">(f)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;text-decoration:underline;">Severability</font><font style="display: inline;">.&nbsp;&nbsp;In the event that any provision of this Agreement shall be held illegal, invalid, or unenforceable for any reason, such provision shall be fully severable, but shall not affect the remaining provisions of the Agreement, and the Agreement shall be </font>
		</font></p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:right;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

		<p style="margin:0pt;text-align:right;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

		<p style="margin:0pt;text-align:right;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;"></font><font style="display: inline;">5</font><font style="display: inline;"></font>

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt"><font style="display: inline;">construed and enforced as if the illegal, invalid, or unenforceable provision had not been included herein.</font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(g)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;text-decoration:underline;">Supersedes Prior Agreements</font><font style="display: inline;">.&nbsp;&nbsp;This Agreement, together with the Plan, shall supersede and replace any and all prior agreements and understandings, oral or written, between the Company and the </font><font style="display: inline;">Participant</font><font style="display: inline;"> regarding the grant of the Options covered hereby.&nbsp; </font><font style="display: inline;">All prior negotiations and agreements between the parties with respect to the subject matter hereof are merged into this Agreement.&nbsp;&nbsp;Each party to this Agreement acknowledges that no representations, inducements, promises, or agreements, orally or otherwise, have been made by any party or by anyone acting on behalf of any party, which are not embodied in this Agreement or the Plan and that any agreement, statement, or promise that is not contained in this Agreement or the Plan shall not be valid or binding or of any force or effect.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:23pt;"><font style="display: inline;color:#000000;">(h)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;text-decoration:underline;">Recoupment</font><font style="display: inline;">.&nbsp;&nbsp;The Participant acknowledges, understands and agrees, with respect to any </font><font style="display: inline;">Shares</font><font style="display: inline;"> delivered to the Participant (or registered in the Participant&#x2019;s name) pursuant to this Agreement, that such </font><font style="display: inline;">Shares</font><font style="display: inline;"> shall be subject to recovery by the Company, and the Participant shall be required to repay such compensation or shares of Common Stock, in accordance with the Company&#x2019;s </font><font style="display: inline;">c</font><font style="display: inline;">law</font><font style="display: inline;">b</font><font style="display: inline;">ack </font><font style="display: inline;">p</font><font style="display: inline;">olicy, as in effect from time to time.&nbsp;&nbsp;The Participant further acknowledges, understands, and agrees that the Board retains the right to modify the Company&#x2019;s </font><font style="display: inline;">clawback policy</font><font style="display: inline;"> at any time.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 36pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:26pt;"><font style="display: inline;color:#000000;">(i)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;color:#000000;"></font><font style="display: inline;text-decoration:underline;">Governing Law</font><font style="display: inline;">.&nbsp;&nbsp;Th</font><font style="display: inline;">is Agreement</font><font style="display: inline;"> shall be construed in accordance with the laws of the State of </font><font style="display: inline;">Delaware</font><font style="display: inline;">, without regard to its conflict of law provisions, to the extent federal law does not supersede and preempt </font><font style="display: inline;">Delaware </font><font style="display: inline;">law.</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<a name="_Ref318305643"></a><font style="text-indent:0pt;margin-left:0pt; padding-right:22pt;"><font style="display: inline;font-weight:bold;">19.</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;font-weight:bold;"></font><font style="display: inline;font-weight:bold;text-decoration:underline;">Definitions and Other Terms</font><font style="display: inline;font-weight:bold;">.</font><font style="display: inline;"> &nbsp;The following capitalized terms shall have those meanings set forth opposite them:</font></font>
		</p>
		<p style="margin:0pt 0pt 12pt 216pt;text-indent: -144pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;color:#000000;">(a)&nbsp;</font><font style="display: inline;color:#000000;">&nbsp;&nbsp;</font><font style="display: inline;">&nbsp;</font><font style="display: inline;text-decoration:underline;">Participant:</font><font style="display: inline;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;">____________________</font>
		</p>
		<p style="margin:0pt 0pt 12pt 216pt;text-indent: -144pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;color:#000000;">(b)</font><font style="display: inline;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;text-decoration:underline;">Date of Grant</font><font style="display: inline;">:</font><font style="display: inline;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;">____________________</font>
		</p>
		<p style="margin:0pt 0pt 12pt 216pt;text-indent: -144pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;color:#000000;">(c)</font><font style="display: inline;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;text-decoration:underline;">Shares</font><font style="display: inline;">:</font><font style="display: inline;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;">______________(_____)</font><font style="display: inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt 216pt;text-indent: -144pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;color:#000000;">(d)</font><font style="display: inline;color:#000000;">&nbsp;&nbsp;</font><font style="display: inline;color:#000000;">&nbsp;&nbsp;</font><font style="display: inline;text-decoration:underline;">Option Price</font><font style="display: inline;">:</font><font style="display: inline;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;">[Closing price</font><font style="display: inline;"> on ____________________</font><font style="display: inline;">]</font>
		</p>
		<p style="margin:0pt 0pt 12pt 216pt;text-indent: -144pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;color:#000000;">(e)</font><font style="display: inline;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;text-decoration:underline;">Option Period</font><font style="display: inline;">:</font><font style="display: inline;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;">Date of Grant</font><font style="display: inline;"> through </font><font style="display: inline;">the </font><font style="display: inline;">tenth </font><font style="display: inline;">annual anniversary of the </font><font style="display: inline;">Date of Grant</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">(until 5:00 p.m. CST).</font>
		</p>
		<p style="margin:0pt 0pt 12pt 216pt;text-indent: -144pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;color:#000000;">(f)</font><font style="display: inline;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;text-decoration:underline;">Vesting Schedule</font><font style="display: inline;">:</font><font style="display: inline;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;">Provided that the </font><font style="display: inline;">Participant</font><font style="display: inline;"> remains in </font><font style="display: inline;">e</font><font style="display: inline;">mployment, Options for 33.33% of the Shares covered by this Agreement (rounded down to the next whole number of Shares) shall vest on the first anniversary of the </font><font style="display: inline;">Date of Grant</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">and </font><font style="display: inline;">upon achievement of the 1</font><font style="display: inline;font-size:6pt;vertical-align:super;line-height:100%">st</font><font style="display: inline;"> St</font><font style="display: inline;">ock Price Performance Hurdle, </font><font style="display: inline;">15% </font><font style="display: inline;">stock price appreciat</font><font style="display: inline;">ion</font><font style="display: inline;">&nbsp;</font><a name="_Hlk42529554"></a><font style="display: inline;">as determined using a </font><font style="display: inline;">3</font><font style="display: inline;">0 day average stock price from the </font><font style="display: inline;">Date of Grant</font><font style="display: inline;"> Option Price</font><font style="display: inline;">; Options for 33.33% of the Shares covered by this Agreement (rounded up to the next whole number of </font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:right;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

		<p style="margin:0pt;text-align:right;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

		<p style="margin:0pt;text-align:right;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;"></font><font style="display: inline;">6</font><font style="display: inline;"></font>

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt 0pt 12pt 216pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt"><font style="display: inline;">Shares) shall vest on the second anniversary of the </font><font style="display: inline;">Date of Grant</font><font style="display: inline;"> and</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">upon achievement of the 2</font><font style="display: inline;font-size:6pt;vertical-align:super;line-height:100%">nd</font><font style="display: inline;"> Stock Price Performance Hurdle, 32.5% stock price appreciat</font><font style="display: inline;">ion</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">as determined using a</font><font style="display: inline;"> &nbsp;3</font><font style="display: inline;">0 day average stock price from the </font><font style="display: inline;">Date of Grant</font><font style="display: inline;"> Option Price </font><font style="display: inline;">; and the remaining Shares covered by this Agreement shall vest on the third anniversary of the </font><font style="display: inline;">Date of Grant</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">and </font><font style="display: inline;">upon achievement of the 3</font><font style="display: inline;font-size:6pt;vertical-align:super;line-height:100%">rd</font><font style="display: inline;"> &nbsp;Stock Price Performance Hurdle, 52.5% stock price appreciat</font><font style="display: inline;">ion</font><font style="display: inline;"> as determined using a </font><font style="display: inline;">3</font><font style="display: inline;">0 day average stock price from the </font><font style="display: inline;">Date of Grant</font><font style="display: inline;"> Option Price</font><font style="display: inline;">. &nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 216pt;text-indent: -144pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">&#xFEFF;</font>
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		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">Notwithstanding the foregoing vesting schedule, in the event of a Change in Control (as defined in the Plan), all of the Options shall become 100% vested as of the date of the Change in Control.&nbsp; </font>
		</p>
		<p style="margin:0pt;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">[</font><font style="display: inline;font-style:italic;">Signature page follows</font><font style="display: inline;">.]</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:right;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

		<p style="margin:0pt;text-align:right;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

		<p style="margin:0pt;text-align:right;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;"></font><font style="display: inline;">7</font><font style="display: inline;"></font>

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;;font-size: 12pt"><font style="display: inline;font-weight:bold;"></font><font style="display: inline;font-weight:bold;">IN WITNESS WHEREOF</font><font style="display: inline;">, the Company, as of the </font><font style="display: inline;">Date of Grant</font><font style="display: inline;">, has caused this Agreement to be executed on its behalf by its duly authorized officer and </font><font style="display: inline;">the Participant</font><font style="display: inline;"> has hereunto executed this Agreement as of the same date.</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">&#xFEFF;</font>
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		<p style="margin:0pt 0pt 0pt 216pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-weight:bold;">VAALCO ENERGY</font><font style="display: inline;font-weight:bold;">, INC.</font>
		</p>
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			<font style="display: inline;">&#xFEFF;</font>
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			<font style="display: inline;">&#xFEFF;</font>
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		<p style="margin:0pt 0pt 0pt 216pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">By:</font><font style="display: inline;">______________________________________</font>
		</p>
		<p style="margin:0pt 0pt 0pt 216pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">&#xFEFF;</font>
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		<p style="margin:0pt 0pt 0pt 216pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-style:italic;">Address for Notices</font><font style="display: inline;">:</font>
		</p>
		<p style="margin:0pt 0pt 0pt 216pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">&#xFEFF;</font>
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		<p style="margin:0pt 0pt 0pt 216pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">VAALCO Energy</font><font style="display: inline;">, Inc.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 216pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">9800 Richmond Ave., Suite 700</font>
		</p>
		<p style="margin:0pt 0pt 0pt 216pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">Houston, Texas 77042</font>
		</p>
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			<font style="display: inline;">Attn:</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">Legal Department</font>
		</p>
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			<font style="display: inline;">&#xFEFF;</font>
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			<font style="display: inline;">&#xFEFF;</font>
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			<font style="display: inline;font-weight:bold;">OPTIONEE</font>
		</p>
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			<font style="display: inline;">&#xFEFF;</font>
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		<p style="margin:0pt 0pt 0pt 216pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">&#xFEFF;</font>
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			<font style="display: inline;">______________________________________</font>
		</p>
		<p style="margin:0pt 0pt 0pt 216pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">Signature</font>
		</p>
		<p style="margin:0pt 0pt 0pt 216pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;">&#xFEFF;</font>
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		<p style="margin:0pt 0pt 0pt 216pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">
			<font style="display: inline;font-style:italic;">Address for Notices</font><font style="display: inline;">:</font>
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			<font style="display: inline;">&#xFEFF;</font>
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		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:right;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

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			&nbsp;

		</p>

		<p style="margin:0pt;text-align:right;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;"></font><font style="display: inline;">8</font><font style="display: inline;"></font>

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			Exhibit 991
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			<font style="display: inline;font-family:Times;font-weight:bold;font-size:13pt;">VAALCO ANNOUNCES CHANGES TO ITS BOARD OF DIRECTORS</font>
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			<font style="display: inline;font-family:Times;font-weight:bold;font-size:13pt;">HOUSTON &#x2013; June 25, 2020</font><font style="display: inline;font-family:Times;font-size:13pt;"> &#x2013; VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (&#x201C;VAALCO&#x201D; or &#x201C;the Company&#x201D;) today announced that Catherine Stubbs and George Maxwell were elected as new independent directors to the Company&#x2019;s Board of Directors at VAALCO&#x2019;s 2020 Annual Meeting of Stockholders.&nbsp;&nbsp;Ms. Stubbs and Mr. Maxwell will serve on the Audit, Compensation, and Nominating and Corporate Governance Committees.&nbsp;&nbsp;Ms. Stubbs will serve as Chair of the Audit Committee. Mr. Maxwell will serve as Chair of the Compensation Committee.&nbsp;&nbsp;These two new directors replace John Knapp and Steve Pully who did not stand for re-election.&nbsp; </font>
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			<font style="display: inline;font-family:Times;font-size:13pt;">In addition, Bradley Radoff has been appointed to the Company&#x2019;s Board of Directors, effective June 25, 2020.&nbsp;&nbsp;Mr. Radoff will serve on the Audit Committee.&nbsp;&nbsp;Following this appointment, VAALCO&#x2019;s Board will be comprised of five members of which four are considered independent. </font>
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			<font style="display: inline;font-family:Times;font-size:13pt;">Andrew Fawthrop, VAALCO&#x2019;s Chairman of the Board commented, &#x201C;We believe that Catherine, George and Brad will bring significant experience in the offshore and international energy sector that will help support VAALCO in achieving our strategic goals.&nbsp;&nbsp;In addition, the two new members will refresh the Board of Directors and bring in diverse perspectives.&nbsp;&nbsp;We also want to recognize our outgoing Board members, John Knapp and Steve Pully.&nbsp;&nbsp;They have both served on our Board for several years and I would like to thank them for their insight, leadership and dedication.&#x201D;</font>
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			<font style="display: inline;font-family:Times;font-size:13pt;">Catherine Stubbs has over 30 years of experience in the energy industry.&nbsp;&nbsp;She currently serves as a director of Aspire Holdings, LLC (formerly Endeavour International Corporation), an independent oil and gas exploration and production company in Houston, Texas.&nbsp;&nbsp;Ms. Stubbs has been with Aspire Holdings, LLC since 2004 and has served in numerous roles, including Director Accounting and Financial Controls, Director Treasury and Corporate Development, Vice President and Senior Vice President &#x2013; Finance.&nbsp;&nbsp;In October 2015, Ms. Stubbs was promoted to the position of President and Chief Financial Officer.&nbsp; </font>
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			<font style="display: inline;font-family:Times;font-size:13pt;">Prior to joining Aspire Holdings, LLC she served as Assistant Controller, Financial Reporting and Corporate Accounting at Devon Energy, Inc. (formerly Ocean Energy, Inc.) from 1997 to 2004.&nbsp;&nbsp;Ms. Stubbs began her career in public accounting with KPMG, an international audit and business strategy consulting firm, where she rose to the title of Audit Manager.&nbsp;&nbsp;Ms. Stubbs is a Certified Public Accountant in the State of Texas and she currently serves on the board of directors of various charity and educational institutions.&nbsp;&nbsp;Ms. Stubbs holds a Bachelor of Business Administration and Master in Professional Accounting from the University of Texas at Austin. </font>
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			<font style="display: inline;font-family:Times;font-size:13pt;">George Maxwell has over 25 years of experience in the oil and gas industry, including in both the producing and service/manufacturing arenas.&nbsp;&nbsp;Mr. Maxwell founded Eland Oil &amp; Gas Plc. in 2009 and </font>
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		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;"></font><font style="display: inline;">1</font><font style="display: inline;"></font>

		</p>

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;;font-size: 13pt"><font style="display: inline;font-family:Times;font-size:13pt;">served as the company&#x2019;s Chief Executive Officer from September 2014 to December 2019, Chief Financial Officer from 2010 to 2014, and as a member of the board of directors from 2009 to 2019. Eland Oil &amp; Gas Plc was floated on the London Stock Exchange in 2012 and remained admitted to trading there until it was acquired by Seplat Petroleum Development Company Plc. on December 17, 2019.&nbsp;&nbsp;Prior to founding Eland Oil &amp; Gas Plc., Mr. Maxwell served as the business development manager for Addax Petroleum and as commercial manager in Geneva.&nbsp;&nbsp;Mr. Maxwell joined Addax Petroleum in 2004 and held the general manager position in Nigeria, where he was responsible for finance, and fiscal and commercial activities.&nbsp;&nbsp;Prior to this, Mr. Maxwell worked with ABB Oil &amp; Gas as Vice President of Finance based in the UK with responsibilities for Europe and Africa and in a similar role in Houston, from where the organization ran its operations in ten countries.&nbsp;&nbsp;Mr. Maxwell has strong ties to the London investment community. </font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 13pt">
			<font style="display: inline;font-family:Times;font-size:13pt;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 13pt">
			<font style="display: inline;font-family:Times;font-size:13pt;">Mr. Maxwell graduated from Robert Gordon University in Aberdeen with a Masters in Business Administration.&nbsp;&nbsp;He is a Fellow of the Energy Institute in the UK and has formerly served on the Boards of Directors of Elcrest Exploration and Production Nigeria Ltd. as well as at Westport Oil Limited.</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 13pt">
			<font style="display: inline;font-family:Times;font-size:13pt;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 13pt">
			<font style="display: inline;font-family:Times;font-size:13pt;">Bradley Radoff has served as Principal of Fondren Management LP, a private investment management company, since January 2005.&nbsp;&nbsp;Mr. Radoff previously served as a Portfolio Manager at Third Point LLC and as a Managing Director of Lonestar Capital Management LLC.&nbsp;&nbsp;Mr. Radoff currently serves as a director on the Board of Support.com and previously served on the Board of Pogo Producing Company from March 2007 to November 2007 prior to its sale to Plains Exploration.&nbsp;&nbsp;Mr. Radoff graduated summa cum laude with a B.S. in Economics from The Wharton School, University of Pennsylvania.&nbsp;&nbsp;As of June 25, 2020, Mr. Radoff beneficially owns 3,906,000 shares of VAALCO common stock, consisting of 1,350,000 shares owned directly, 2,471,000 shares owned through BLR Partners LP and 85,000 shares owned through the Radoff Family Foundation.&nbsp; </font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;line-height:100%;font-family:Times New Roman;font-size: 13pt">
			<font style="display: inline;font-family:Times;font-weight:bold;color:#000000;font-size:13pt;">&#xFEFF;</font>
		</p>
		<p style="margin:0pt 0pt 5pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 13pt">
			<font style="display: inline;font-family:Times;font-weight:bold;color:#000000;font-size:13pt;">About VAALCO</font>
		</p>
		<p style="margin:0pt 0pt 5pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 13pt">
			<font style="display: inline;color:#000000;font-size:13pt;background-color: #FFFFFF;">VAALCO, founded in 1985, is a Houston, USA based, independent energy company with production, development and exploration assets in the West African region.</font>
		</p>
		<p style="margin:0pt 0pt 5pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 13pt">
			<font style="display: inline;color:#000000;font-size:13pt;background-color: #FFFFFF;">The Company is an established operator within the region, holding a 31.1% working interest in the Etame Marin Block, located offshore Gabon, which to date has produced over 116 million barrels of crude oil and of which the Company is the operator.</font>
		</p>
		<p style="margin:0pt 0pt 5pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 14pt">
			<font style="display: inline;font-weight:bold;color:#000000;font-size:14pt;background-color: #FFFFFF;">For Further Information</font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="top" style="width:58.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt 0pt 6.5pt;height:14.40pt">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 1pt">
						<font style="display: inline;font-size:1pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:41.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;padding:0pt 6.5pt 0pt 6.5pt;height:14.40pt">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:58.14%;padding:0pt 6.5pt 0pt 6.5pt;height:14.40pt">
					<p style="margin:0pt 0pt 5pt;line-height:100%;font-family:Times New Roman;font-size: 13pt">
						<font style="display: inline;font-family:Times;font-weight:bold;color:#000000;font-size:13pt;">VAALCO Energy, Inc. (General and Investor Enquiries)</font></p>
				</td>
				<td valign="top" style="width:41.86%;padding:0pt 6.5pt 0pt 6.5pt;height:14.40pt">
					<p style="margin:0pt 0pt 5pt;line-height:100%;font-family:Times New Roman;font-size: 13pt">
						<font style="display: inline;font-family:Times;color:#000000;font-size:13pt;background-color: #FFFFFF;">+00 1 713 623 0801</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:58.14%;padding:0pt 6.5pt 0pt 6.5pt;height:14.40pt">
					<p style="margin:0pt 0pt 5pt;line-height:100%;font-family:Times New Roman;font-size: 13pt">
						<font style="display: inline;font-family:Times;color:#000000;font-size:13pt;background-color: #FFFFFF;">Website:</font></p>
				</td>
				<td valign="top" style="width:41.86%;padding:0pt 6.5pt 0pt 6.5pt;height:14.40pt">
					<p style="margin:0pt 0pt 5pt;line-height:100%;font-family:Times New Roman;font-size: 13pt">
						<font style="display: inline;font-family:Times;color:#000000;font-size:13pt;background-color: #FFFFFF;">www.vaalco.com</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:58.14%;padding:0pt 6.5pt 0pt 6.5pt;height:14.40pt">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 13pt">
						<font style="display: inline;font-family:Times;color:#000000;font-size:13pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:41.86%;padding:0pt 6.5pt 0pt 6.5pt;height:14.40pt">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:58.14%;padding:0pt 6.5pt 0pt 6.5pt;height:14.40pt">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 13pt">
						<font style="display: inline;font-family:Times;color:#000000;font-size:13pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:41.86%;padding:0pt 6.5pt 0pt 6.5pt;height:14.40pt">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:58.14%;padding:0pt 6.5pt 0pt 6.5pt;height:14.40pt">
					<p style="margin:0pt 0pt 5pt;line-height:100%;font-family:Times New Roman;font-size: 13pt">
						<font style="display: inline;font-family:Times;font-weight:bold;color:#000000;font-size:13pt;">Al Petrie Advisors (US Investor Relations)</font></p>
				</td>
				<td valign="top" style="width:41.86%;padding:0pt 6.5pt 0pt 6.5pt;height:14.40pt">
					<p style="margin:0pt 0pt 5pt;line-height:100%;font-family:Times New Roman;font-size: 13pt">
						<font style="display: inline;font-family:Times;color:#000000;font-size:13pt;background-color: #FFFFFF;">+00 1 713 543 3422</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:58.14%;padding:0pt 6.5pt 0pt 6.5pt;height:14.40pt">
					<p style="margin:0pt 0pt 5pt;line-height:100%;font-family:Times New Roman;font-size: 13pt">
						<font style="display: inline;font-family:Times;color:#000000;font-size:13pt;background-color: #FFFFFF;">Al Petrie / Chris Delange</font></p>
				</td>
				<td valign="top" style="width:41.86%;padding:0pt 6.5pt 0pt 6.5pt;height:14.40pt">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
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				<td valign="top" style="width:58.14%;padding:0pt 6.5pt 0pt 6.5pt;height:14.40pt">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-family:Calibri;font-size:10pt;">&#xFEFF;</font></p>
				</td>
				<td valign="top" style="width:41.86%;padding:0pt 6.5pt 0pt 6.5pt;height:14.40pt">
					<p style="margin:0pt;line-height:100%;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
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				<td valign="top" style="width:58.14%;padding:0pt 6.5pt 0pt 6.5pt;height:14.40pt">
					<p style="margin:0pt 0pt 5pt;line-height:100%;font-family:Times New Roman;font-size: 13pt">
						<font style="display: inline;font-family:Times;color:#000000;font-size:13pt;background-color: #FFFFFF;">Ben Romney / Kelsey Traynor&nbsp;</font><font style="display: inline;font-family:Times;color:#000000;font-size:13pt;">/&nbsp;</font><font style="display: inline;font-family:Times;color:#000000;font-size:13pt;background-color: #FFFFFF;">James Husband</font></p>
				</td>
				<td valign="top" style="width:41.86%;padding:0pt 6.5pt 0pt 6.5pt;height:14.40pt">
					<p style="margin:0pt 0pt 5pt;line-height:100%;font-family:Times New Roman;font-size: 13pt">
						<font style="display: inline;font-family:Times;color:#000000;font-size:13pt;background-color: #FFFFFF;">VAALCO@buchanan.uk.com</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-weight:bold;font-size:10pt;">&#xFEFF;</font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:0pt;text-align:center;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			<font style="display: inline;"></font><font style="display: inline;">2</font><font style="display: inline;"></font>

		</p>

		<p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 12pt">

			&nbsp;

		</p>

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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
