Exhibit 10.3


 


COTERRA ENERGY INC.


 


INDEMNIFICATION AGREEMENT


 


This Indemnification
Agreement is made and entered into this ___ day of ________, 202_ (“Agreement”), by and between COTERRA ENERGY INC., a Delaware
corporation (“Company”), and ________ (“Indemnitee”).


 


WHEREAS, highly competent
persons are becoming more reluctant to continue to serve publicly held corporations as directors or in other capacities unless they are
provided with adequate protection through insurance or adequate indemnification against inordinate risks of claims and actions against
them arising out of their service to and activities on behalf of the corporation;


 


WHEREAS, it is reasonable,
prudent and necessary for the Company contractually to obligate itself to indemnify such persons as permitted by applicable law so that
they will serve or continue to serve the Company free from undue concern that they will not be so indemnified; and


 


WHEREAS, Indemnitee is willing
to serve, continue to serve and to take on additional service for or on behalf of the Company on the condition that he be so indemnified;


 


NOW THEREFORE, in consideration
of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows:


 


Section 1. Services by
Indemnitee. Indemnitee agrees to serve, or to continue to serve, at the request of the Company as a director, officer or employee.
Indemnitee may at any time and for any reason resign from such position (subject to any other contractual obligation or any obligation
imposed by operation of law). The Company shall have no obligation under this Agreement to continue Indemnitee in any such position.


 


Section 2. Indemnification
- General. The Company shall indemnify, and advance Expenses (as defined in Section 17 hereof) to, Indemnitee as provided in this
Agreement and to the fullest extent permitted by applicable law in effect on the date hereof and to such greater extent as applicable
law may hereafter from time to time permit. The rights of Indemnitee provided under the preceding sentence shall include, but shall not
be limited to, the rights set forth in the other Sections of this Agreement.


 


Section 3. Proceedings
Other Than Proceedings by or in the Right of the Company. Indemnitee shall be entitled to the rights of indemnification provided
in this Section 3 if, by reason of his Corporate Status (as defined in Section 17 hereof), he is, or is threatened to be made, a
party to any threatened, pending, or completed Proceeding (as defined in Section 17 hereof), other than a Proceeding by or in the
right of the Company. Pursuant to this Section 3, Indemnitee shall be indemnified against Expenses, judgments, penalties, fines and
amounts paid in settlement actually and reasonably incurred by him or on his behalf in connection with such Proceeding or any claim,
issue or matter therein, if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best
interests of the Company and, with respect to any criminal Proceeding, had no reasonable cause to believe his conduct was unlawful.
If Indemnitee is entitled to indemnification pursuant to this Section 3 as to some claims, issues or matters in such Proceeding but
not others, then the Company reserves the right to reasonably prorate in good faith its indemnification obligations arising under
this Agreement.


 






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Section 4. Proceedings
by or in the Right of the Company. Indemnitee shall be entitled to the rights of indemnification provided in this Section 4 if, by
reason of his Corporate Status, he is, or is threatened to be made, a party to any threatened, pending or completed Proceeding brought
by or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 4, Indemnitee shall be indemnified
against Expenses actually and reasonably incurred by him or on his behalf in connection with such Proceeding if he acted in good faith
and in a manner he reasonably believed to be in or not opposed to the best interests of the Company. Notwithstanding the foregoing, no
indemnification against such Expenses shall be made in respect of any claim, issue or matter in such Proceeding as to which Indemnitee
shall have been adjudged to be liable to the Company if applicable law prohibits such indemnification; provided, however, that if applicable
law so permits, indemnification against Expenses shall nevertheless be made by the Company in such event if and only to the extent that
the Court of Chancery of the State of Delaware, or the court in which such Proceeding shall have been brought or is pending, shall determine.


 


Section 5. Indemnification
for Expenses of a Party Who is Wholly or Partly Successful. Notwithstanding any other provision of this Agreement, to the extent that
Indemnitee is, by reason of his Corporate Status, a party to and is successful, on the merits or otherwise, in any Proceeding, he shall
be indemnified against all Expenses actually and reasonably incurred by him or on his behalf in connection therewith. If Indemnitee is
not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims, issues
or matters in such Proceeding, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by him or
on his behalf in connection with each successfully resolved claim, issue or matter, with Expenses with respect to such Proceeding being
reasonably prorated by the Company in good faith. For purposes of this Agreement and without limitation, if any claim, issue or matter
in such a Proceeding is disposed of, on the merits or otherwise (including a disposition without prejudice), without (i) the disposition
being adverse to Indemnitee, (ii) an adjudication that Indemnitee was liable to the Company, (iii) a plea of guilty or nolo contendere
by Indemnitee, (iv) an adjudication that Indemnitee did not act in good faith and in a manner Indemnitee reasonably believed to be in
or not opposed to the best interests of the Company, and (v) with respect to any criminal proceeding, an adjudication that Indemnitee
had reasonable cause to believe Indemnitee’s conduct was unlawful, Indemnitee shall be considered for the purposes hereof to have
been wholly successful with respect thereto.


 


Section 6. Indemnification
for Expenses of a Witness. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason of his
Corporate Status, a witness or otherwise participates in any Proceeding at a time when he is not named as a defendant or respondent in
the Proceeding, he shall be indemnified against all Expenses actually and reasonably incurred by him or on his behalf in connection therewith.


 


Section 7. Advancement
of Expenses. The Company shall advance all reasonable Expenses incurred by or on behalf of Indemnitee in connection with any
Proceeding by reason of the Corporate Status within 20 days after the receipt by the Company of a statement or statements from
Indemnitee requesting such advance or advances from time to time, whether prior to or after final disposition of such Proceeding.
Such statement or statements shall reasonably evidence the Expenses incurred by Indemnitee and shall include or be preceded or
accompanied by an undertaking by or on behalf of Indemnitee to repay any Expenses advanced if it shall ultimately be determined that
Indemnitee is not entitled to be indemnified against such Expenses.


 






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Section 8. Procedure for
Determination of Entitlement to Indemnification.


 


(a)       To
obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request, including therein or therewith
such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what
extent Indemnitee is entitled to indemnification. The Secretary of the Company shall, promptly upon receipt of such a request for indemnification,
advise the Board of Directors in writing that Indemnitee has requested indemnification.


 


(b)       Upon
written request by Indemnitee for indemnification pursuant to the first sentence of Section 8(a) hereof, a determination, if required
by applicable law, with respect to Indemnitee’s entitlement thereto shall be made in the specific case: (i) if a Change of Control
(as hereinafter defined) shall have occurred, by Independent Counsel (as hereinafter defined) (unless Indemnitee shall request that such
determination be made by the Board of Directors or the stockholders, in which case by the person or persons or in the manner provided
for in clauses (ii) of this Section 8(b)) in a written opinion to the Board of Directors, a copy of which shall be delivered to Indemnitee;
or (ii) if a Change of Control shall not have occurred, (A) by the Board of Directors by a majority vote of the Disinterested Directors
(as hereinafter defined), even though less than a quorum or (B) if there are no Disinterested Directors or if the Disinterested Directors
so direct, by Independent Counsel in a written opinion to the Board of Directors, a copy of which shall be delivered to Indemnitee or
(C) if so directed by the Disinterested Directors, or if there are no Disinterested Directors, the Board of Directors, by the stockholders
of the Company; and, if it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within
10 days after such determination. Indemnitee shall cooperate with the person, persons or entity making such determination with respect
to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request
any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee
and reasonably necessary to such determination. Any costs or expenses (including attorneys’ fees and disbursements) incurred by
Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company (irrespective
of the determination as to Indemnitee’s entitlement to indemnification), and the Company hereby indemnifies and agrees to hold Indemnitee
harmless therefrom.


 


(c)       In
the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 8(b) hereof,
the Independent Counsel shall be selected as provided in this Section 8(c). If a Change of Control shall not have occurred, the
Independent Counsel shall be selected by the Board of Directors, and the Company shall give written notice to Indemnitee advising
him of the identity of the Independent Counsel so selected. If a Change of Control shall have occurred, the Independent Counsel
shall be selected by Indemnitee (unless Indemnitee shall request that such selection be made by the Board of Directors, in which
event the preceding sentence shall apply), and Indemnitee shall give written notice to the Company advising it of the identity of
the Independent Counsel so selected. In either event, Indemnitee or the Company, as the case may be, may, within seven days after
such written notice of selection shall have been given, deliver to the Company or to Indemnitee, as the case may be, a written
objection to such selection. Such objection may be asserted only on the ground that the Independent Counsel so selected does not
meet the requirements of “Independent Counsel” as defined in Section 17 of this Agreement, and the objection shall set
forth with particularity the factual basis of such assertion. If such written objection is timely made, the Independent Counsel so
selected may not serve as Independent Counsel unless and until a court has determined that such objection is without merit. If,
within 20 days after submission by Indemnitee of a written request for indemnification pursuant to Section 8(a) hereof, no
Independent Counsel shall have been selected and not objected to, either the Company or Indemnitee may petition the Court of
Chancery of the State of Delaware or other court of competent jurisdiction for resolution of any objection which shall have been
made by the Company or Indemnitee to the other’s selection of Independent Counsel and/or for the appointment as Independent
Counsel of a person selected by the Court or by such other person as the Court shall designate, and the person with respect to whom
an objection is so resolved or the person so appointed shall act as Independent Counsel under Section 8(b) hereof. The Company shall
pay any and all reasonable fees and expenses of Independent Counsel incurred by such Independent Counsel in connection with acting
pursuant to Section 8(b) hereof, and the Company shall pay all reasonable fees and expenses incident to the procedures of this
Section 8(c), regardless of the manner in which such Independent Counsel was selected or appointed. Upon the due commencement of any
judicial proceeding or arbitration pursuant to Section 10(a)(iii) of this Agreement, Independent Counsel shall be discharged and
relieved of any further responsibility in such capacity (subject to the applicable standards of professional conduct then
prevailing).


 






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Section 9. Presumptions
and Effect of Certain Proceedings.


 


(a)       If
a Change of Control shall have occurred, in making a determination with respect to entitlement to indemnification hereunder, the person
or persons or entity making such determination shall presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee
has submitted a request for indemnification in accordance with Section 8(a) of this Agreement, and the Company shall have the burden of
proof to overcome that presumption in connection with the making by any person, persons or entity of any determination contrary to that
presumption.


 


(b)       If
the person, persons or entity empowered or selected under Section 8 of this Agreement to determine whether Indemnitee is entitled to
indemnification shall not have made a determination within 60 days after receipt by the Company of the request therefor, the
requisite determination of entitlement to indemnification shall be deemed to have been made and Indemnitee shall be entitled to such
indemnification, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make
Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of
such indemnification under applicable law; provided, however, that such 60-day period may be extended for a reasonable time,
not to exceed an additional 30 days, if the person, persons or entity making the determination with respect to entitlement to
indemnification in good faith requires such additional time for the obtaining or evaluating of documentation and/or information
relating thereto; and provided, further, that the foregoing provisions of this Section 9(b) shall not apply (i) if the
determination of entitlement to indemnification is to be made by the stockholders pursuant to Section 8(b) of this Agreement and if
(A) within 15 days after receipt by the Company of the request for such determination the Board of Directors, or Disinterested
Directors, as appropriate, resolve to submit such determination to the stockholders for their consideration at an annual meeting
thereof to be held within 90 days after such receipt and such determination is made thereat, or (B) a special meeting of
stockholders is called within 60 days after such receipt for the purpose of making such determination, such meeting is held for such
purpose within 90 days after having been so called and such determination is made thereat, or (ii) if the determination of
entitlement to indemnification is to be made by Independent Counsel pursuant to Section 8(b) of this Agreement.


 






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(c)       The
termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a plea of
nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect
the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner which he
reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding, that Indemnitee
had reasonable cause to believe that his conduct was unlawful.


 


Section 10. Remedies of
Indemnitee.


 


(a)       In
the event that (i) a determination is made pursuant to Section 8 of this Agreement that Indemnitee is not entitled to indemnification
under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 7 of this Agreement, (iii) the determination
of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 8(b) of this Agreement and such determination
shall not have been made and delivered in a written opinion within 90 days after receipt by the Company of the request for indemnification,
(iv) payment of indemnification is not made pursuant to Section 6 of this Agreement within 10 days after receipt by the Company of a written
request therefor, or (v) payment of indemnification is not made within 10 days after a determination has been made that Indemnitee is
entitled to indemnification or such determination is deemed to have been made pursuant to Section 8 or 9 of this Agreement, Indemnitee
shall be entitled to an adjudication in an appropriate court of the State of Delaware, or in any other court of competent jurisdiction,
of his entitlement to such indemnification or advancement of Expenses. Alternatively, Indemnitee, at his option, may seek an award in
arbitration to be conducted by a single arbitrator pursuant to the then-prevailing Commercial Arbitration Rules of the American Arbitration
Association. The parties agree that all matters subject to the arbitration, including the arbitration itself, shall remain confidential.
Indemnitee shall commence such proceeding seeking an adjudication or an award in arbitration within 180 days following the date on which
Indemnitee first has the right to commence such proceeding pursuant to this Section 10(a); provided, however, that the foregoing clause
shall not apply in respect of a proceeding brought by an Indemnitee to enforce his rights under Section 5 of the Agreement.


 


(b)       If
a Change of Control shall have occurred, (i) in the event that a determination shall have been made pursuant to Section 8 of this Agreement
that Indemnitee is not entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 10 shall
be conducted in all respects as a de novo trial, or arbitration, on the merits and Indemnitee shall not be prejudiced by reason
of that adverse determination; and (ii) in any judicial proceeding or arbitration commenced pursuant to this Section 10 the Company shall
have the burden of proving that Indemnitee is not entitled to indemnification or advancement of Expenses, as the case may be.


 


(c)       If
a determination shall have been made or deemed to have been made pursuant to Section 8 or 9 of this Agreement that Indemnitee is
entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding or arbitration commenced
pursuant to this Section 10, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary
to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a
prohibition of such indemnification under applicable law.


 






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(d)       The
Company shall be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 10 that the procedures
and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before any such arbitrator
that the Company is bound by all the provisions of this Agreement.


 


(e)       In
the event that Indemnitee, pursuant to this Section 10, seeks a judicial adjudication of or an award in arbitration to enforce his rights
under, or to recover damages for breach of, this Agreement, Indemnitee shall be entitled to recover from the Company, and shall be indemnified
by the Company against, any and all expenses (of the types described in the definition of Expenses in Section 17 of this Agreement) actually
and reasonably incurred by him in such judicial adjudication or arbitration, but only if he prevails therein. If it shall be determined
in said judicial adjudication or arbitration that Indemnitee is entitled to receive part but not all of the indemnification or advancement
of expenses sought, the expenses incurred by Indemnitee in connection with such judicial adjudication or arbitration shall be appropriately
prorated in good faith by counsel for Indemnitee.


 


Section 11. Non-Exclusivity;
Survival of Rights; Insurance; Subrogation.


 


(a)       The
rights of indemnification and to receive advancement of Expenses as provided by this Agreement shall be in addition to, and shall not
be deemed exclusive of, any other rights to which Indemnitee may at any time be entitled under applicable law, the Certificate of Incorporation
or the By-Laws of the Company, any agreement, a vote of stockholders or a resolution of directors, or otherwise. No amendment, alteration
or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect
of any action taken or omitted by such Indemnitee in his Corporate Status prior to such amendment, alteration or repeal.


 


(b)       To
the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers or employees
of the Company or of any other corporation, partnership, limited liability company, joint venture, trust, employee benefit plan or other
enterprise which such person serves at the request of the Company, Indemnitee shall be covered by such policy or policies in accordance
with its or their terms to the maximum extent of the coverage available for any such similarly situated director, officer or employee
under such policy or policies.


 


(c)       In
the event of any payment by the Company under this Agreement, the Company shall be subrogated to the extent of such payment to all of
the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including
execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.


 


(d)       The
Company shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder if and to the
extent that Indemnitee has otherwise actually received such payment under any Bylaw, insurance policy, contract, agreement or
otherwise.


 






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Section 12.Certain Settlement Provisions.
The Company shall have no obligation to indemnify Indemnitee under this Agreement for amounts paid in settlement of a Proceeding without
the Company’s prior written consent. The Company shall not settle any Proceeding in any manner that would impose any fine, Expense,
limitation or other obligation on Indemnitee without Indemnitee’s consent. Neither the Company nor Indemnitee shall unreasonably
withhold their consent to any proposed settlement.


 


Section 13. Duration of
Agreement. This Agreement shall continue for so long as the Indemnitee may have any liability or potential liability by virtue of
serving as a director, officer or employee of the Company or of any other corporation, partnership, limited liability company, joint venture,
trust, employee benefit plan or other enterprise which Indemnitee served at the request of the Company, including without limitation,
the final termination of all pending Proceedings in respect of which Indemnitee is granted rights of indemnification or advancement of
expenses hereunder and of any proceeding commenced by Indemnitee pursuant to Section 10 of this Agreement relating thereto. This Agreement
shall be binding upon the Company and its successors and assigns and shall inure to the benefit of Indemnitee and his heirs, executors,
legal representatives and administrators.


 


Section 14. Severability.
If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever: (a)
the validity, legality and enforceability of the remaining provisions of this agreement (including without limitation, each portion of
any Section of this Agreement containing any such provision held to be invalid, illegal or unenforceable) shall not in any way be affected
or impaired thereby; and (b) to the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion
of any Section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid,
illegal or unenforceable) shall be construed so as to give effect to the intent manifested by the provision held invalid, illegal or unenforceable.


 


Section 15. Exception to
Right of Indemnification or Advancement of Expenses. Notwithstanding any other provision of this Agreement, Indemnitee shall not be
entitled to indemnification or advancement of Expenses under this Agreement with respect to (i) any Proceeding, or any claim therein,
brought or made by him against the Company except for any claim or proceeding or in respect of this Agreement and/or the Indemnitee’s
rights hereunder; or (ii) the payment by Indemnitee to the Company of profits pursuant to Section 16(b) of the Securities Exchange Act
of 1934, as amended (the “Exchange Act”), or Proceedings in connection therewith.


 


Section 16. Identical Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of
which together shall constitute one and the same Agreement. Only one such counterpart signed by the party against whom enforceability
is sought needs to be produced to evidence the existence of this Agreement. Signatures to this Agreement transmitted by facsimile transmission,
by electronic mail in “portable document format” (.pdf) form, or by any other electronic means intended to preserve the original
graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing the original
signature.


 






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Section
17. Headings. The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute
part of this Agreement or to affect the construction thereof.


 


Section 18. Definitions.


 


(a)       “Change
of Control” means:


 


(I)       The
acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a “Person”)
of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 35% or more of either (1) the then outstanding
shares of common stock of the Company (the “Outstanding Company Common Stock”) or (2) the combined voting power of the then
outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting
Securities”); provided, however, that for purposes of this subsection (I), the following acquisitions shall not constitute
a Change of Control: (i) any acquisition directly from the Company, (ii) any acquisition by the Company, (iii) any acquisition by any
employee benefit plan (or related trust) sponsored or maintained by the Company or any entity controlled by the Company or (iv) any acquisition
by any entity pursuant to a transaction which complies with clauses (1), (2) and (3) of subsection (III) of this definition; or


 


(II)       Individuals
who, as of the date hereof, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority
of the Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election, or nomination
for election by the Company’s stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent
Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual
whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal
of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or


 


(III)       Consummation
of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company
(a “Business Combination”), in each case, unless, following such Business Combination, (1) all or substantially all of
the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding
Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of,
respectively, the then outstanding shares of common stock and the combined voting power of the then outstanding voting securities
entitled to vote generally in the election of directors, as the case may be, of the entity resulting from such Business Combination
(including, without limitation, an entity that as a result of such transaction owns the Company or all or substantially all of the
Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their
ownership, immediately prior to such Business Combination, of the Outstanding Company Common Stock and Outstanding Company Voting
Securities, as the case may be, (2) no Person (excluding any entity resulting from such Business Combination or any employee benefit
plan (or related trust) of the Company or such entity resulting from such Business Combination) beneficially owns, directly or
indirectly, 35% or more of, respectively, the then outstanding shares of common equity of the entity resulting from such Business
Combination or the combined voting power of the then outstanding voting securities of such entity except to the extent that such
ownership existed prior to the Business Combination and (3) at least a majority of the members of the board of directors of the
corporation, or the similar managing body of a non-corporate entity, resulting from such Business Combination were members of the
Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business
Combination; or


 






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(IV)       Approval
by the stockholders of the Company of a complete liquidation or dissolution of the Company, other than a liquidation or dissolution in
connection with a transaction to which subsection (III) applies.


 


(b)       “Corporate
Status” describes the status of a person who is or was a director, officer or employee of the Company or of any other corporation,
partnership, limited liability company, joint venture, trust, employee benefit plan or other enterprise which such person is or was serving
at the request of the Company.


 


(c)       “Disinterested
Director” means a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification is
sought by Indemnitee.


 


(d)       “Expenses”
shall include all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses,
duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, and all other disbursements or expenses
of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, participating
or being or preparing to be a witness in a Proceeding.


 


(e)       “Independent
Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently is,
nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any matter material to either such party
(other than as Independent Counsel under this Agreement or similar agreements), or (ii) any other party to the Proceeding giving rise
to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include
any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing
either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.


 


(f)       “Proceeding”
includes any action, suit, arbitration, alternate dispute resolution mechanism, investigation, administrative hearing or any other proceeding
whether civil, criminal, administrative or investigative.


 


Section 19. Modification
and Waiver. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both of the
parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a wavier of any other provisions
hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.


 


Section 20. Notice by Indemnitee.
Indemnitee agrees promptly to notify the Company in writing upon being served with any summons, citation, subpoena, complaint, indictment,
information or other document relating to any Proceeding or matter which may be subject to indemnification or advancement of Expenses
covered hereunder.





 






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Section 21. Notices.
All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given if (i)
delivered by hand and received for by the party to whom said notice or other communication shall have been directed, or (ii) mailed by
certified or registered mail with postage prepaid, on the third business day after the date on which it is so mailed:


 


(a)           If
to Indemnitee, to his address on file with the Company from time to time.


 


(b)           If
to the Company to:


Three Memorial City Plaza


840 Gessner Road, Suite 1400


Houston, Texas 77024


 


or to such other address as may have been furnished
to Indemnitee by the Company or to the Company by Indemnitee, as the case may be.


 


Section 22. Governing Law.
The parties agree that this Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware.


 


Section 23. Miscellaneous.
Use of the masculine pronoun shall be deemed to include usage of the feminine pronoun where appropriate.


 


Section 24.Mutual Acknowledgments.
Both the Company and Indemnitee acknowledge that in certain instances, applicable law (including applicable federal law that may preempt
or override applicable state law) or public policy may prohibit the Company from indemnifying the directors and officers of the Company
under this Agreement or otherwise. For example, the Company and Indemnitee acknowledge that the U.S. Securities and Exchange Commission
has taken the position that indemnification of directors, officers and controlling persons of the Company for liabilities arising under
federal securities laws is against public policy and, therefore, unenforceable. Indemnitee understands and acknowledges that the Company
has undertaken or may be required in the future to undertake with the Securities and Exchange Commission to submit the question of indemnification
to a court in certain circumstances for a determination of the Company’s right under public policy to indemnify Indemnitee. In addition,
the Company and Indemnitee acknowledge that federal law prohibits indemnifications for certain violations of the Employee Retirement Income
Security Act of 1974, as amended.


 


 



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IN
WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year first above written.


 


	ATTEST:	 	COTERRA ENERGY INC.
	 	 	 	 
	By	                                            	 	By:	 
	 	Deidre L. Shearer	 	 	Thomas E. Jorden
	 	Corporate Secretary	 	 	Chief Executive Officer and President




	 	 
	 	INDEMNITEE 
	 	 
	                                                                     	By:	                     
	 	 	 







 
	 	Address:	 
	 	 	 
	 	 	 


 






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