An exercise apparatus includes a frame configured to rest on a floor surface; left and right rocker links pivotally mounted on the frame; left and right reciprocating links having forward ends rotatably coupled to respective rocker links, and rearward ends constrained to move in reciprocal fashion relative to the frame; left and right cranks rotatably mounted on the frame; left and right drive links having forward ends rotatably coupled to respective cranks, and rearward ends rotatably coupled to respective left and right foot links. The foot links have forward ends rotatably coupled to respective rocker links. Intermediate portions of the reciprocating links support rearward portions of respective drive links for both rotational and translational movement relative thereto. The resulting linkage assemblies constrain rearward ends of the foot links to move through elliptical paths, and the paths may be altered by adjusting various components of the linkage assemblies relative to one another and/or the frame.