Form of Stock Appreciation Rights Grant Agreement for stock appreciation rights granted under the Omnibus Incentive Plan of Encana Corporation

Certain Defined Terms. For the purposes of this Agreement, the following capitalized terms will have the meanings given below:

"Cause" means (A) on or after a Change in Control, "CIC Cause" as defined in the Plan, or (B) prior to a Change in Control, (1) "cause" as defined in any Individual Agreement to which Participant is a party as of the Date Employment Ceases, or (2) if there is no such Individual Agreement or it does not define cause, cause as determined by the Corporation or the Affiliate, as applicable, in its sole discretion, which shall include, among other factors, provisions (i) and (ii) of a "CIC Cause" as defined in the Plan;

"Close of Business" means the close of trading on the Applicable Exchange on any Trading Day;

"Death or Retirement Exercise Period" means the period of time extending from the date of Participant's death or Retirement, as applicable, to the earlier of: (i) the date that is six months following the date of the Participant's death or Retirement, as applicable; and (ii) the Expiry Date. If the Death or Retirement Exercise Period would

terminate on a date other than a Trading Day pursuant to the preceding sentence, the Death or Retirement Exercise Period shall instead terminate on the Close of Business on the last Trading Day prior to that date;

"Early Retirement" means Participant's Termination of Service on or after Participant's attainment of the age of 55 years and prior to Participant's attainment of the age of 60 years that is (i) initiated by the Corporation or an Affiliate, as applicable, for any reason other than Cause, or (ii) due to Participant's resignation;

"Expiry Date" means the date set forth on the cover page of this Agreement, subject to Section 5.5 of the Plan;

"Grant Date" means the date set forth on the cover page of this Agreement, subject to Section 1.2(dd) of the Plan;

"Normal Retirement" means Participant's Termination of Service on or after Participant's attainment of the age of 60 years that is (i) initiated by the Corporation or its Affiliate, as applicable, for any reason other than Cause, or (ii) due to Participant's resignation;

"Termination Exercise Period" means the period of time extending from the Date Employment Ceases to the earlier of: (i) the Close of Business on the 60th Trading Day after the Date Employment Ceases; and (ii) the Expiry Date.

Grant of SARs. Effective as of the Grant Date specified above, the Corporation hereby grants the SARs to Participant in accordance with and subject to the terms and conditions of the Plan and this Agreement.

Vesting. The SARs shall vest on the date or dates specified in Schedule "A" (each such date, a "Vesting Date") subject to Participant's continued employment with the Corporation or its Affiliate through the applicable Vesting Date, except as otherwise provided in Sections 5, 6 and 7:

Exercise of SARs.

Once Participant's SARs have become vested in accordance with the terms of this Agreement, the Participant may exercise (i) during the Participant’s employment with the Corporation or any of its Affiliates and on or prior to the Expiry Date or (ii) after the Participant’s Termination of Service and during the Death or Retirement Exercise Period, the period specified in Section 6(a), or the Termination Exercise Period, as applicable, all or any number of such vested SARs, and in exchange for such vested SARs Participant shall be entitled, subject to Section 5.5 of the Plan and Sections 4(b) and 17 of this Agreement, to receive in cash or in Shares (or a combination thereof), as determined by the Committee, a payment in respect of each such SAR equal to the excess of the closing price of one Share on the Applicable Exchange on the last Trading Day preceding the date of exercise of such SAR over the Grant Price of such SAR.

Notwithstanding any other provision of the Plan or this Agreement to the contrary, the Committee shall not settle any SARs granted pursuant to this Agreement in Shares unless and until either: (a) the Plan is approved by the Corporation’s shareholders at its 2019 annual general meeting; or (b) the SARs are approved by the Corporation’s shareholders.

Effect of Change in Control. In accordance with Section 10.1(a) of the Plan, in the event of a Change in Control, all SARs credited to Participant's account that are not vested immediately

prior to the time of such Change in Control shall become vested immediately prior to the time of such Change in Control, except to the extent that such SARs are replaced with a Replacement Award. If the SARs are replaced with a Replacement Award, then from and after the Change in Control, references herein to "SARs" shall be deemed to refer to the Replacement Award.

Effect of Termination of Service. Upon Participant's Termination of Service prior to the applicable Vesting Date for any reason other than due to Participant's death, Retirement, or termination without CIC Cause or with Good Reason within the Specified Period following a Change in Control (each of which has the treatment specified below), all unvested SARs will be forfeited immediately, provided that any vested SARs credited to Participant's account immediately prior to the time of such Termination of Service shall continue to be exercisable by Participant during the Termination Exercise Period. Any vested SARs that are not exercised by Participant during the Termination Exercise Period shall be forfeited and cancelled on the last day of the Termination Exercise Period.

Effect of Death or Retirement.

Death or Retirement Prior to Age 60. In the event of (A) Participant's death prior to the date that the Participant attains the age of 60 years, or (B) Participant's Early Retirement, all unvested SARs will be forfeited immediately, provided that any vested SARs credited to the Participant's account immediately prior to the time of such Termination of Service may continue to be exercised by Participant during the Death or Retirement Exercise Period. Any vested SARs that are not exercised by Participant during the Death or Retirement Exercise Period shall be forfeited and cancelled on the last day of the Death or Retirement Exercise Period.

Death or Retirement Between Age 60 and 65. In the event of (A) Participant's death on or after the date that Participant attains the age of 60 years but before the date that Participant attains the age of 65 years, or (B) Participant's Normal Retirement on or after the date that Participant attains the age of 60 years but before the date that Participant attains the age of 65 years, the SARs shall continue to be or become, as applicable, vested in accordance with the provisions of Section 3 and Participant shall be entitled to exercise any such SARs until the Expiry Date.

Death or Retirement Following Age 65. In the event of (A) Participant's death on or after the date that Participant attains the age of 65 years, or (B) Participant's Normal Retirement on or after the date that Participant attains the age of 65 years, Participant shall be entitled, during the period extending from the date of Participant's death or Retirement, as applicable, until the Expiry Date, to exercise in full or in part any unexercised SAR granted hereunder (irrespective of whether such SAR has become vested in accordance with the provisions of this Agreement).

Effect of Termination Without CIC Cause or With Good Reason Within the Specified Period. If a Change in Control occurs and the SARs are replaced with a Replacement Award, then upon Participant's Termination of Service (i) that is initiated by the Corporation or an Affiliate, as applicable, without CIC Cause, or (ii) due to Participant's resignation for Good Reason, in each case, within the Specified Period following a Change in Control, the Replacement Award shall vest in full.

Effect of Absence.

Period of Absence. If the applicable Vesting Date occurs during Participant's Period of Absence, then the relevant SARs shall vest on such Vesting Date as if Participant were an active employee on such date; provided that, all unvested SARs will be forfeited upon the date that is two and one-half months following the end of the year in which the Participant is deemed to have a Separation from Service for purposes of Section 409A if the Participant has not returned to active employment with the Corporation or an Affiliate by such date.

Unpaid Leave of Absence. If the applicable Vesting Date occurs during Participant's Unpaid Leave of Absence, then the relevant SARs shall not vest on such Vesting Date. If, immediately following such Unpaid Leave of Absence in which the applicable Vesting Date occurs, Participant returns to active employment with the Corporation or an Affiliate, then the relevant SARs shall vest upon the date of Participant's return to active employment. If Participant does not return to active employment immediately following such Unpaid Leave of Absence in which the applicable Vesting Date occurs, then the relevant SARs shall be forfeited upon the last day of such Unpaid Leave of Absence. Notwithstanding the foregoing, if the Participant has not returned to active employment with the Corporation or an Affiliate by the last day of the calendar year in which the first Vesting Date during the Unpaid Leave of Absence occurs, then all unvested SARs shall be forfeited on such last day of such calendar year.

Expiration of SARs. On the Expiry Date, any SAR granted hereunder that has not been exercised or otherwise forfeited and cancelled pursuant to the provisions hereof shall expire and be of no further force or effect whatsoever.

Effect of Expiry/Forfeiture/Failure to Vest. On the Expiry Date, any SAR granted hereunder that has not been exercised, and on the Date Employment Ceases, any SAR that has failed to vest or been forfeited pursuant to the provisions hereof shall immediately be cancelled and all of Participant's rights and interests in respect of such SARs shall thereupon terminate, in all cases, for no consideration. For greater certainty, no amount shall be payable to any Person as damages, compensation or otherwise in respect of the loss of rights and interests in any SARs hereunder, whether in connection with a Participant's Termination of Service or otherwise.

Compliance with Law; Tax Withholding. The Corporation's grant of the SARs or payment of Shares or cash pursuant to the SARs is subject to compliance with Applicable Law. As a condition of participating in the Plan, Participant hereby agrees to comply with all such Applicable Law and agrees to furnish to the Corporation all information and undertakings as may be required to permit compliance with such Applicable Law. Without limiting the generality of the foregoing, Participant hereby acknowledges and agrees that any payment to Participant in respect of the SARs shall be subject to such taxes and other withholdings or deductions as may be required by Applicable Law. The provisions of Section 14.4 (Required Taxes) of the Plan shall apply to the SARs; provided that, if the Participant is an individual covered under Section 16 of the Exchange Act at the time that a taxable event with respect to SARs occurs, then the Corporation's withholding obligations with respect to such taxable event will be satisfied by the Corporation or its Affiliate withholding from the Shares deliverable pursuant to the SARs a number of Shares having a fair market value on the date of withholding equal to the amount required to be withheld for tax purposes (calculated using the minimum statutory withholding rate, except as otherwise approved by the Committee).

No Right to Continued Employment. Neither the Plan nor any action taken thereunder shall interfere with the right of the Corporation or any Affiliate which employs Participant to terminate Participant's employment at any time.

Incentive Compensation Clawback Policy. Participant acknowledges and agrees that the PSUs (and the grant thereof) and any payment in respect thereof are expressly subject to the terms and conditions of the Corporation's "Incentive Compensation Clawback Policy", attached hereto as Schedule "B", as same may be amended by the Corporation from time to time.

No Rights as a Shareholder. Participant shall have no rights whatsoever as a shareholder in respect of any Shares (including any rights to receive dividends or other distributions from or on the Shares) other than in respect of Shares (if any) delivered to Participant upon exercise of Participant's vested SARs in accordance with and in the manner provided for in this Agreement.

Amendment.

Subject to Section 12.3 of the Plan, this Agreement may be unilaterally amended by the Committee.

Notwithstanding anything to the contrary in the Plan or this Agreement, if the Plan is not approved by the Corporation’s shareholders at its 2019 annual general meeting, the Corporation may unilaterally amend the terms of this Agreement, without obtaining the consent of Participant, to cause this Agreement to be governed by the Encana Corporation Employee Stock Appreciation Rights Plan.

Successors and Assigns. This Agreement shall enure to the benefit of and be binding upon the Corporation and its respective successors and assigns and upon Participant and all other persons claiming or deriving rights through Participant.

Choice of Law. This Agreement and the rights of all parties hereunder and the construction of each and every provision hereof shall be governed by and construed in accordance with the laws of the Province of Alberta, without reference to the principles of conflicts of law, and the federal laws of Canada, as applicable. In the event of a dispute, Participant agrees to submit to the jurisdiction of the courts of the Province of Alberta.

Section 409A. The SARs and this Agreement are intended to comply with an exemption from Section 409A of the Code and shall be administered in all respects in accordance with such intent. However, Participant is solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed upon Participant or for Participant's account in connection with the Plan, the SARs and/or this Agreement (including any taxes and penalties under Section 409A), and neither the Corporation nor any Affiliate shall have any obligation to indemnify or otherwise hold Participant (or any beneficiary) harmless from any or all of such taxes or penalties.

Personal Information. Participant agrees to the collection, use and disclosure of personal information about Participant (including, without limitation, personal employee information about Participant) (collectively, "Personal Information") by the Corporation or its Affiliates for purposes of administering and managing the grant of SARs to Participant hereunder, operation of the Plan and this Agreement and, as applicable, compliance with Applicable Law (the "Purposes").

Participant understands that by indicating Participant's acceptance of and agreement with the terms of this Agreement (whether electronically or otherwise), Participant confirms Participant has received and reviewed the Plan and this Agreement, which contain legal terms, and that Participant agrees to be bound by the terms of the Plan and this Agreement.

30 percent of the SARs shall vest on the first anniversary of the Grant Date;

an additional 30 percent of the SARs shall vest on the second anniversary of the Grant Date; and

an additional 40 percent of the SARs shall vest on the third anniversary of the Grant Date.

the Corporation is required to prepare an accounting restatement due to its material non-compliance with any financial reporting requirement under applicable securities laws (the "Restatement"), (the date upon which the Corporation is required to prepare such Restatement is hereinafter the "Restatement Date");

the Executive received Incentive-Based Compensation referable to the financial years subject to the Restatement in excess of what the Executive would have been paid under the Restatement (the "Overcompensation Amount"); and

the Executive engaged in gross negligence, intentional misconduct or fraud which caused or significantly contributed to the Corporation's material non-compliance with applicable securities laws which resulted in the requirement for the Restatement;

where and to the extent the Overcompensation Amount has been previously paid, transferred or otherwise made available to the Executive, to require the Executive, by written demand, to reimburse the Corporation for the Overcompensation Amount; and

where all or a portion of the Overcompensation Amount has not been paid, transferred or otherwise made available to the Executive, the right of the Executive to be so paid or have such benefit transferred or otherwise made available to him or her shall, to the extent required to reimburse the Corporation for such Overcompensation Amount,

immediately terminate and be forfeited by the Executive and where required, cancelled by the Corporation to such extent and upon such date as may be specified by the Board; and

to the extent the Overcompensation Amount is not immediately recovered upon demand from the Executive, whether via direct reimbursement, forfeiture and/or cancellation, to require a sufficient quantity or value of any compensation owing by the Corporation to the Executive including, without limitation, any unvested or unexercised awards under the LTIs (the "Outstanding LTIs"), be immediately withheld and/or irrevocably cancelled by the Corporation to compensate for (or set off the value of same against) the Overcompensation Amount or any unrecovered portion thereof, and to bring any other actions against the Executive which the Board may deem necessary to recover the Overcompensation Amount.