Cabot Oil & Gas Corporation Change in Control Agreement Confirmation with Executives
Cabot Oil & Gas Corporation and several executives confirm that a specific benefit under their Change in Control Agreements is no longer effective. This follows the company's termination of separate supplemental retirement agreements (SERP Agreements) with these executives. As a result, a particular section of the Change in Control Agreement that referenced the SERP benefits is now void. The agreement formalizes this change and is effective as of October 26, 2010.
Exhibit 10.1(a)
CABOT OIL & GAS CORPORATION
CHANGE IN CONTROL AGREEMENT
Confirmation that Certain Benefits no Longer Apply
WHEREAS, Cabot Oil & Gas Corporation, a Delaware corporation (the Company), and Dan O. Dinges, Scott C. Schroeder, Lisa A. Machesney, Abraham D. Garza, Jeffrey W. Hutton, Robert G. Drake, Phil Stalnaker, Matt Reid and Todd Roemer (Executives) each entered into an agreement (the Change in Control Agreement) providing that the Company will pay certain benefits in the event of a change in control of the Company, as described in the Change in Control Agreement; and
WHEREAS, the Company and each Executive previously entered into an individual letter agreement (the SERP Agreement) providing that the Company will pay certain supplemental benefits to such Executives, as described in the SERP Agreement; and
WHEREAS, effective as of December 9, 2010, the Company entered into an agreement (the Agreement Concerning SERP) with each Executive pursuant to which each Executive (i) acknowledged the Companys right to terminate and liquidate the SERP Agreements and (ii) agreed that, in the event of the termination of the SERP Agreement, Section 1(p)(IV) of the Change in Control Agreement would no longer be effective without further action by the Executives; and
WHEREAS, effective as of October 26, 2010, the Company terminated the SERP Agreements.
NOW, THEREFORE, as of October 26, 2010, Section 1(p)(IV) of the Change in Control Agreement has no force of effect.
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IN WITNESS WHEREOF, the Company has caused this confirmation to be executed by its duly authorized officer this 9 day of December, 2010, but effective as of October 26, 2010.
CABOT OIL & GAS CORPORATION | ||
By: | /s/ Abraham D. Garza | |
Name: Abraham D. Garza | ||
Title: V. P. Human Resources |
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