First Amendment to Cabot Oil & Gas Corporation Pension Plan (2006 Restatement)

Contract Categories: Human Resources › Retirement Agreements
Summary

This amendment, effective January 1, 2006, modifies the Cabot Oil & Gas Corporation Pension Plan. It updates how the present value of employee benefits and account balances are calculated, specifically regarding distributions made within certain time periods. The amendment clarifies the treatment of distributions from both active and terminated plans, and specifies exceptions based on the reason for distribution and employee service status. The amendment is executed by the company's Vice President of Human Resources.

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EX-10.23(A) 3 dex1023a.htm FIRST AMENDMENT TO THE PENSION PLAN OF THE COMPANY First Amendment to the Pension Plan of the Company

Exhibit 10.23(a)

CABOT OIL & GAS CORPORATION

PENSION PLAN

(As Amended and Restated Effective January 1, 2006)

First Amendment

Cabot Oil & Gas Corporation, a Delaware corporation (the “Company”), having established the Cabot Oil & Gas Corporation Pension Plan, as amended and restated January 1, 2006 (the “Plan”), and having reserved the right under Section 10.1 thereof to amend the Plan, does hereby amend the Plan, effective as of January 1, 2006, as follows:

 

  1. Section 16.7(g)(ii) of the Plan is hereby amended in its entirety to read as follows:

 

  “(ii) The present values of accrued benefits and the amounts of account balances of an Employee as of the Determination Date shall be increased by the distributions made with respect to the Employee under the Plan and any plan aggregated with the Plan under Section 416(g)(2) of the Code during the 1-year period ending on the Determination Date. The preceding sentence shall also apply to distributions under a terminated plan which, had it not been terminated, would have been aggregated with the Plan under Section 416(g)(2)(A)(i) of the Code. In the case of a distribution made for a reason other than severance from employment, death, or disability, this provision shall be applied by substituting “5-year period” for “1-year period.”

The accrued benefits and accounts of any individual who has not performed services for a Considered Company during the 1-year period ending on the Determination Date shall not be taken into account.”

IN WITNESS WHEREOF, the Company has caused this Amendment to be executed by its duly authorized officer this 12th day of December 2007, but effective as specified herein.

 

CABOT OIL & GAS CORPORATION
By:  

/s/ Abraham D. Garza

Name:   Abraham D. Garza
Title:   Vice President, Human Resources