EX-4.1


 Exhibit 4.1 
  

 
  

CABOT OIL & GAS CORPORATION 

$100,000,000 3.24% Series K Senior Notes due September 18, 2021 

$575,000,000 3.67% Series L Senior Notes due September 18, 2024 

$250,000,000 3.77% Series M Senior Notes due September 18, 2026 

 
  

NOTE PURCHASE AGREEMENT 
  

 
 Dated
September 18, 2014 
  
  

 






 TABLE OF CONTENTS 

 

									
	 	 	 	  	 	  	Page	 
			
	1.	 	AUTHORIZATION OF NOTES	  	 	1	  
			
	2.	 	SALE AND PURCHASE OF NOTES	  	 	1	  
			
	3.	 	CLOSING	  	 	2	  
			
	4.	 	CONDITIONS TO CLOSING	  	 	2	  
		 	 4.1.
	  	 Representations and Warranties
	  	 	2	  
		 	 4.2.
	  	 Performance; No Default
	  	 	2	  
		 	 4.3.
	  	 Compliance Certificates
	  	 	2	  
		 	 4.4.
	  	 Opinions of Counsel
	  	 	3	  
		 	 4.5.
	  	 Purchase Permitted By Applicable Law, Etc
	  	 	3	  
		 	 4.6.
	  	 Sale of Other Notes
	  	 	3	  
		 	 4.7.
	  	 Payment of Special Counsel Fees
	  	 	3	  
		 	 4.8.
	  	 Private Placement Number
	  	 	4	  
		 	 4.9.
	  	 Changes in Corporate Structure
	  	 	4	  
		 	 4.10.
	  	 Funding Instructions
	  	 	4	  
		 	 4.11.
	  	 Proceedings and Documents
	  	 	4	  
			
	 5.
	 	REPRESENTATIONS AND WARRANTIES OF THE COMPANY	  	 	4	  
		 	 5.1.
	  	 Organization; Power and Authority
	  	 	4	  
		 	 5.2.
	  	 Authorization, Etc
	  	 	4	  
		 	 5.3.
	  	 Disclosure
	  	 	5	  
		 	 5.4.
	  	 Organization and Ownership of Shares of Subsidiaries; Affiliates
	  	 	5	  
		 	 5.5.
	  	 Financial Statements; Material Liabilities
	  	 	6	  
		 	 5.6.
	  	 Compliance with Laws, Other Instruments, Etc
	  	 	6	  
		 	 5.7.
	  	 Governmental Authorizations, Etc
	  	 	6	  
		 	 5.8.
	  	 Litigation; Observance of Agreements, Statutes and Orders
	  	 	7	  
		 	 5.9.
	  	 Taxes
	  	 	7	  
		 	 5.10.
	  	 Title to Property; Leases
	  	 	7	  
		 	 5.11.
	  	 Licenses, Permits, Etc
	  	 	8	  
		 	 5.12.
	  	 Compliance with ERISA
	  	 	8	  
		 	 5.13.
	  	 Private Offering by the Company
	  	 	9	  
		 	 5.14.
	  	 Use of Proceeds; Margin Regulations
	  	 	9	  
		 	 5.15.
	  	 Existing Indebtedness; Future Liens
	  	 	9	  
		 	 5.16.
	  	 Foreign Assets Control Regulations, Etc
	  	 	10	  
		 	 5.17.
	  	 Status under Certain Statutes
	  	 	11	  
		 	 5.18.
	  	 Environmental Matters
	  	 	11	  
		 	 5.19.
	  	 Ranking of Obligations
	  	 	11	  
			
	 6.
	 	REPRESENTATIONS OF THE PURCHASERS	  	 	11	  
		 	 6.1.
	  	 Purchase for Investment
	  	 	11	  
		 	 6.2.
	  	 Source of Funds
	  	 	12	  
			
	 7.
	 	INFORMATION AS TO COMPANY	  	 	13	  
		 	 7.1.
	  	 Financial and Business Information
	  	 	13	  
		 	 7.2.
	  	 Officer’s Certificate
	  	 	16	  
		 	 7.3.
	  	 Visitation
	  	 	17	  


  
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 TABLE OF CONTENTS 

(continued) 
  


									
	 	 	 	  	 	  	Page	 
			
	 8.
	 	 PAYMENT AND PREPAYMENT OF THE NOTES
	  	 	18	  
		 	 8.1.
	  	 Maturity
	  	 	18	  
		 	 8.2.
	  	 Optional Prepayments with Make-Whole Amount
	  	 	18	  
		 	 8.3.
	  	 Prepayment of Notes Upon Change of Control
	  	 	18	  
		 	 8.4.
	  	 Prepayment in Connection with a Disposition
	  	 	19	  
		 	 8.5.
	  	 Allocation of Partial Prepayments
	  	 	20	  
		 	 8.6.
	  	 Maturity; Surrender, Etc
	  	 	20	  
		 	 8.7.
	  	 Purchase of Notes
	  	 	20	  
		 	 8.8.
	  	 Make-Whole Amount
	  	 	21	  
			
	 9.
	 	 AFFIRMATIVE COVENANTS
	  	 	22	  
		 	 9.1.
	  	 Compliance with Law
	  	 	22	  
		 	 9.2.
	  	 Insurance
	  	 	23	  
		 	 9.3.
	  	 Maintenance of Properties
	  	 	23	  
		 	 9.4.
	  	 Payment of Taxes and Claims
	  	 	23	  
		 	 9.5.
	  	 Corporate Existence, Etc
	  	 	23	  
		 	 9.6.
	  	 Books and Records
	  	 	24	  
		 	 9.7.
	  	 Ranking of Obligations
	  	 	24	  
		 	 9.8.
	  	 Subsidiary Guaranty; Release of Guaranties
	  	 	24	  
			
	 10.
	 	 NEGATIVE COVENANTS
	  	 	25	  
		 	 10.1.
	  	 Transactions with Affiliates
	  	 	25	  
		 	 10.2.
	  	 Merger, Consolidation, Etc
	  	 	26	  
		 	 10.3.
	  	 Line of Business
	  	 	26	  
		 	 10.4.
	  	 Terrorism Sanctions Regulations
	  	 	26	  
		 	 10.5.
	  	 Liens
	  	 	27	  
		 	 10.6.
	  	 Sale of Assets
	  	 	28	  
		 	 10.7.
	  	 Priority Debt
	  	 	29	  
		 	 10.8.
	  	 Asset Coverage Ratio
	  	 	29	  
		 	 10.9.
	  	 Annual Coverage Ratio
	  	 	30	  
			
	 11.
	 	 EVENTS OF DEFAULT
	  	 	30	  
			
	 12.
	 	 REMEDIES ON DEFAULT, ETC
	  	 	32	  
		 	 12.1.
	  	 Acceleration
	  	 	32	  
		 	 12.2.
	  	 Other Remedies
	  	 	33	  
		 	 12.3.
	  	 Rescission
	  	 	33	  
		 	 12.4.
	  	 No Waivers or Election of Remedies, Expenses, Etc
	  	 	34	  
			
	 13.
	 	 REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES
	  	 	34	  
		 	 13.1.
	  	 Registration of Notes
	  	 	34	  
		 	 13.2.
	  	 Transfer and Exchange of Notes
	  	 	34	  
		 	 13.3.
	  	 Replacement of Notes
	  	 	35	  


  
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 TABLE OF CONTENTS 

(continued) 
  


									
	 	 	 	  	 	  	Page	 
			
	14.	 	PAYMENTS ON NOTES	  	 	35	  
		 	 14.1.
	  	 Place of Payment
	  	 	35	  
		 	 14.2.
	  	 Home Office Payment
	  	 	35	  
			
	15.	 	EXPENSES, ETC	  	 	36	  
		 	 15.1.
	  	 Transaction Expenses
	  	 	36	  
		 	 15.2.
	  	 Survival
	  	 	36	  
			
	16.	 	SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT	  	 	36	  
			
	17.	 	AMENDMENT AND WAIVER	  	 	37	  
		 	 17.1.
	  	 Requirements
	  	 	37	  
		 	 17.2.
	  	 Solicitation of Holders of Notes
	  	 	37	  
		 	 17.3.
	  	 Binding Effect, etc
	  	 	38	  
		 	 17.4.
	  	 Notes Held by Company, etc
	  	 	38	  
			
	18.	 	NOTICES	  	 	38	  
			
	19.	 	REPRODUCTION OF DOCUMENTS	  	 	39	  
			
	20.	 	CONFIDENTIAL INFORMATION	  	 	39	  
			
	21.	 	SUBSTITUTION OF PURCHASER	  	 	40	  
			
	22.	 	MISCELLANEOUS	  	 	40	  
		 	 22.1.
	  	 Successors and Assigns
	  	 	40	  
		 	 22.2.
	  	 Payments Due on Non-Business Days
	  	 	41	  
		 	 22.3.
	  	 Accounting Terms
	  	 	41	  
		 	 22.4.
	  	 Severability
	  	 	41	  
		 	 22.5.
	  	 Construction, etc
	  	 	42	  
		 	 22.6.
	  	 Counterparts
	  	 	42	  
		 	 22.7.
	  	 Governing Law
	  	 	42	  
		 	 22.8.
	  	 Jurisdiction and Process; Waiver of Jury Trial
	  	 	42	  


  
 iii 








					
	Schedule A	  	—	  	Information Relating to Purchasers
			
	Schedule B	  	—	  	Defined Terms
			
	Schedule 5.3	  	—	  	Disclosure Materials
			
	Schedule 5.4	  	—	  	Subsidiaries of the Company and Ownership of Subsidiary Stock
			
	Schedule 5.5	  	—	  	Financial Statements
			
	Schedule 5.15	  	—	  	Existing Indebtedness
			
	Schedule 10.5	  	—	  	Liens
			
	Exhibit 1(a)	  	—	  	Form of 3.24% Series K Senior Note due September 18, 2021
			
	Exhibit 1(b)	  	—	  	Form of 3.67% Series L Senior Note due September 18, 2024
			
	Exhibit 1(c)	  	—	  	Form of 3.77% Series M Senior Note due September 18, 2026
			
	Exhibit 4.4(a)	  	—	  	Form of Opinion of Managing Counsel for the Company
			
	Exhibit 4.4(b)	  	—	  	Form of Opinion of Special Counsel for the Company
			
	Exhibit 4.4(c)	  	—	  	Form of Opinion of Special Counsel for the Purchasers







 CABOT OIL & GAS CORPORATION 

Three Memorial City Plaza 

840 Gessner Road, Suite 1400 

Houston, Texas 77024 

$100,000,000 3.24% Series K Senior Notes due September 18, 2021 

$575,000,000 3.67% Series L Senior Notes due September 18, 2024 

$250,000,000 3.77% Series M Senior Notes due September 18, 2026 

September 18, 2014 
 To Each of The
Purchasers Listed in 
 Schedule A Hereto: 
 Ladies and
Gentlemen: 
 CABOT OIL & GAS CORPORATION, a Delaware corporation, agrees with each of the purchasers whose names appear at
the end hereof (each, a “Purchaser” and, collectively, the “Purchasers”) as follows: 
  

	1.	AUTHORIZATION OF NOTES. 

 The Company will authorize the issue and sale of
(a) $100,000,000 aggregate principal amount of its 3.24% Series K Senior Notes due September 18, 2021 (the “Series K Notes”), (b) $575,000,000 aggregate principal amount of its 3.67% Series L Senior Notes due
September 18, 2024 (the “Series L Notes”) and (c) $250,000,000 aggregate principal amount of its 3.77% Series M Senior Notes due September 18, 2026 (the “Series M Notes and together with the Series K Notes
and the Series L Notes, collectively, the “Notes”, such term to include any such notes issued in substitution therefor pursuant to Section 13). The Series K Notes, Series L Notes and the Series M Notes shall be substantially in
the forms set out in Exhibit 1(a), Exhibit 1(b) and Exhibit 1(c), respectively. Certain capitalized and other terms used in this Agreement are defined in Schedule B; and references to a “Schedule” or an “Exhibit” are,
unless otherwise specified, to a Schedule or an Exhibit attached to this Agreement. 
  

	2.	SALE AND PURCHASE OF NOTES. 

 Subject to the terms and conditions of this Agreement, the
Company will issue and sell to each Purchaser and each Purchaser will purchase from the Company, at the Closing provided for in Section 3, Notes in the principal amount and in the Series specified opposite such Purchaser’s name in
Schedule A at the purchase price of 100% of the principal amount thereof. The Purchasers’ obligations hereunder are several and not joint obligations and no Purchaser shall have any liability to any Person for the performance or
non-performance of any obligation by any other Purchaser hereunder. 







	3.	CLOSING. 

 The sale and purchase of the Notes to be purchased by each Purchaser shall occur at the
offices of Bingham McCutchen LLP, One State Street, Hartford, CT 06103, at 10:00 a.m., local time, at a closing (the “Closing”) on September 18, 2014 or on such other Business Day thereafter on or prior to September 24,
2014 as may be agreed upon by the Company and the Purchasers. At the Closing the Company will deliver to each Purchaser the Notes to be purchased by such Purchaser in the form of a single Note of each Series to be purchased by such Purchaser (or
such greater number of Notes of each such Series in denominations of at least $500,000 as such Purchaser may request) dated the date of the Closing and registered in such Purchaser’s name (or in the name of its nominee), against delivery by
such Purchaser to the Company or its order of immediately available funds in the amount of the purchase price therefor by wire transfer of immediately available funds for the account of the Company to account number 636462608 at JPMorgan Chase Bank,
N.A., 2200 Ross Avenue, 6th Floor, Dallas, Texas 75201, ABA number 021000021. If at the Closing the Company shall fail to tender such Notes to any Purchaser as provided above in this Section 3, or any of the conditions specified in
Section 4 shall not have been fulfilled to such Purchaser’s satisfaction, such Purchaser shall, at its election, be relieved of all further obligations under this Agreement, without thereby waiving any rights such Purchaser may have by
reason of such failure or such nonfulfillment. 
  

	4.	CONDITIONS TO CLOSING. 

 Each Purchaser’s obligation to purchase and pay for the
Notes to be sold to such Purchaser at the Closing is subject to the fulfillment to such Purchaser’s satisfaction, prior to or at the Closing, of the following conditions: 

 

	 	4.1.	Representations and Warranties. 

 The representations and warranties of the
Company in this Agreement shall be correct when made and at the time of the Closing. 
  

	 	4.2.	Performance; No Default. 

 The Company shall have performed and complied with all
agreements and conditions contained in this Agreement required to be performed or complied with by it prior to or at the Closing and immediately after giving effect to the issue and sale of the Notes (and the application of the proceeds thereof as
contemplated by Section 5.14) no Default or Event of Default shall have occurred and be continuing. Neither the Company nor any Subsidiary shall have entered into any transaction since the date of the Memorandum that would have been prohibited
by Sections 10.1, 10.5 or 10.7 had such Sections applied since such date. 
  

	 	4.3.	Compliance Certificates. 

 (a) Officer’s Certificate.
The Company shall have delivered to such Purchaser an Officer’s Certificate, dated the date of the Closing, certifying that the conditions specified in Sections 4.1, 4.2 and 4.9 have been fulfilled. 

(b) Secretary’s Certificates. The Company shall have delivered to such Purchaser a certificate of its Secretary or
Assistant Secretary, dated the date of the Closing, certifying as to the resolutions attached thereto and other corporate proceedings relating to the authorization, execution and delivery of the Notes, this Agreement and the Subsidiary Guaranty, as
applicable. 

  
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	 	4.4.	Opinions of Counsel. 

 Such Purchaser shall have received opinions in form and
substance satisfactory to such Purchaser, dated the date of the Closing (a) from Deidre L. Shearer, Managing Counsel for the Company, covering the matters set forth in Exhibit 4.4(a) and covering such other matters incident to the
transactions contemplated hereby as such Purchaser or its counsel may reasonably request (and the Company hereby instructs its counsel to deliver such opinion to the Purchasers), (b) from Baker Botts L.L.P., counsel for the Company, covering
the matters set forth in Exhibit 4.4(b) and covering such other matters incident to the transactions contemplated hereby as such Purchaser or its counsel may reasonably request (and the Company hereby instructs its counsel to deliver such
opinion to the Purchasers) and (c) from Bingham McCutchen LLP, the Purchasers’ special counsel in connection with such transactions, substantially in the form set forth in Exhibit 4.4(c) and covering such other matters incident to such
transactions as such Purchaser may reasonably request. 
  

	 	4.5.	Purchase Permitted By Applicable Law, Etc. 

 On the date of the Closing such
Purchaser’s purchase of Notes shall (a) be permitted by the laws and regulations of each jurisdiction to which such Purchaser is subject, without recourse to provisions (such as section 1405(a)(8) of the New York Insurance Law)
permitting limited investments by insurance companies without restriction as to the character of the particular investment, (b) not violate any applicable law or regulation (including, without limitation, Regulation T, U or X of the Board of
Governors of the Federal Reserve System) and (c) not subject such Purchaser to any tax, penalty or liability under or pursuant to any applicable law or regulation, which law or regulation was not in effect on the date hereof. If requested by
such Purchaser, such Purchaser shall have received an Officer’s Certificate certifying as to such matters of fact as such Purchaser may reasonably specify to enable such Purchaser to determine whether such purchase is so permitted. 

 

	 	4.6.	Sale of Other Notes. 

 Contemporaneously with the Closing the Company shall sell
to each other Purchaser and each other Purchaser shall purchase the Notes to be purchased by it at the Closing as specified in Schedule A. 
  

	 	4.7.	Payment of Special Counsel Fees. 

 Without limiting the provisions of
Section 15.1, the Company shall have paid on or before the Closing the fees, charges and disbursements of the Purchasers’ special counsel referred to in Section 4.4 to the extent reflected in a statement of such counsel rendered to
the Company at least one Business Day prior to the Closing. 

  
 -3- 








	 	4.8.	Private Placement Number. 

 A Private Placement Number issued by
Standard & Poor’s CUSIP Service Bureau (in cooperation with the SVO) shall have been obtained for each Series of Notes. 
  

	 	4.9.	Changes in Corporate Structure. 

 The Company shall not have changed its
jurisdiction of incorporation or organization, as applicable, or been a party to any merger or consolidation or succeeded to all or any substantial part of the liabilities of any other entity, at any time following the date of the most recent
financial statements referred to in Schedule 5.5. 
  

	 	4.10.	Funding Instructions. 

 At least three Business Days prior to the date of the
Closing, each Purchaser shall have received written instructions signed by a Responsible Officer on letterhead of the Company confirming the information specified in Section 3 including (a) the name and address of the transferee bank,
(b) such transferee bank’s ABA number and (c) the account name and number into which the purchase price for the Notes is to be deposited. 
  

	 	4.11.	Proceedings and Documents. 

 All corporate and other proceedings in connection
with the transactions contemplated by this Agreement and all documents and instruments incident to such transactions shall be satisfactory to such Purchaser and its special counsel, and such Purchaser and its special counsel shall have received all
such counterpart originals or certified or other copies of such documents as such Purchaser or such special counsel may reasonably request. 
  

	5.	REPRESENTATIONS AND WARRANTIES OF THE COMPANY. 

 The Company represents and warrants to
each Purchaser that: 
  

	 	5.1.	Organization; Power and Authority. 

 The Company is a corporation duly organized,
validly existing and in good standing under the laws of its jurisdiction of incorporation, and is duly qualified as a foreign corporation and is in good standing in each jurisdiction in which such qualification is required by law, other than those
jurisdictions as to which the failure to be so qualified or in good standing could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. The Company has the corporate power and authority to own or hold
under lease the properties it purports to own or hold under lease, to transact the business it transacts and proposes to transact, to execute and deliver this Agreement and the Notes and to perform the provisions hereof and thereof. 

 

	 	5.2.	Authorization, Etc. 

 This Agreement and the Notes have been duly authorized by
all necessary corporate action on the part of the Company, and this Agreement constitutes, and upon execution and 

  
 -4- 







 
delivery thereof each Note will constitute, a legal, valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except as such enforceability may be
limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such
enforceability is considered in a proceeding in equity or at law). 
  

	 	5.3.	Disclosure. 

 The Company, through its agents, Merrill Lynch, Pierce,
Fenner & Smith Incorporated has delivered to each Purchaser a copy of a Private Placement Memorandum, dated August, 2014 (the “Memorandum”), relating to the transactions contemplated hereby. The Memorandum fairly describes,
in all material respects, the general nature of the business and principal properties of the Company and its Subsidiaries. This Agreement, the Memorandum and the documents, certificates or other writings delivered to the Purchasers by or on behalf
of the Company in connection with the transactions contemplated hereby and identified in Schedule 5.3 (excluding estimates, financial projections and pro forma financial statements (the “Projections”)), and the financial
statements listed in Schedule 5.5 (this Agreement, the Memorandum and such documents, certificates or other writings and such financial statements delivered to each Purchaser prior to September 18, 2014 being referred to, collectively, as
the “Disclosure Documents”), taken as a whole, do not contain any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein not misleading in light of the circumstances under
which they were made. As to Projections, the Company represents only that such information was prepared in good faith based upon assumptions believed by it to be reasonable at the time. Except as disclosed in the Disclosure Documents, since
December 31, 2013, there has been no change in the financial condition, operations, business, or properties of the Company or any Subsidiary except changes that individually or in the aggregate could not reasonably be expected to have a
Material Adverse Effect. 
  

	 	5.4.	Organization and Ownership of Shares of Subsidiaries; Affiliates. 


(a) Schedule 5.4 contains (except as noted therein) complete and correct lists (i) of the Company’s
Subsidiaries, showing, as to each Subsidiary, the correct name thereof, the jurisdiction of its organization, and the percentage of shares of each class of its capital stock or similar equity interests outstanding owned by the Company and each other
Subsidiary, (ii) of the Company’s Affiliates, other than Subsidiaries, and (iii) of the Company’s directors and senior officers. 

(b) All of the outstanding shares of capital stock or similar equity interests of each Subsidiary shown in Schedule 5.4 as
being owned by the Company and its Subsidiaries have been validly issued, are fully paid and nonassessable and are owned by the Company or another Subsidiary free and clear of any Lien. 

(c) Each Subsidiary identified in Schedule 5.4 is a corporation or other legal entity duly organized, validly existing and,
where applicable, in good standing under the laws of its jurisdiction of organization, and is duly qualified as a foreign corporation or other legal entity and, where applicable, is in good standing in each jurisdiction in which such qualification
is required by law, other than those jurisdictions as to which the failure 

  
 -5- 







 
to be so qualified or in good standing could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Each such Subsidiary has the corporate or other power
and authority to own or hold under lease the properties it purports to own or hold under lease and to transact the business it transacts and proposes to transact. 

(d) No Subsidiary is a party to, or otherwise subject to any legal, regulatory, contractual or other restriction (other than
this Agreement, the agreements listed on Schedule 5.4 and customary limitations imposed by corporate law or similar statutes) restricting the ability of such Subsidiary to pay dividends out of profits or make any other similar distributions of
profits to the Company or any of its Subsidiaries that owns outstanding shares of capital stock or similar equity interests of such Subsidiary. 
  

	 	5.5.	Financial Statements; Material Liabilities. 

 The Company has delivered to each
Purchaser copies of the financial statements of the Company and its Subsidiaries listed on Schedule 5.5. All of said financial statements (including in each case the related schedules and notes) fairly present in all material respects the
consolidated financial position of the Company and its Subsidiaries as of the respective dates specified in such financial statements and the consolidated results of their operations and cash flows for the respective periods so specified and have
been prepared in accordance with GAAP consistently applied throughout the periods involved except as set forth in the notes thereto (subject, in the case of any interim financial statements, to normal year-end adjustments). The Company and its
Subsidiaries do not have any Material liabilities that are not disclosed on such financial statements or otherwise disclosed in the Disclosure Documents. 
  

	 	5.6.	Compliance with Laws, Other Instruments, Etc. 

 The execution, delivery and
performance by the Company of this Agreement and the Notes will not (a) contravene, result in any breach of, or constitute a default under, or result in the creation of any Lien in respect of any property of the Company or any Subsidiary under,
any indenture, mortgage, deed of trust, loan, purchase or credit agreement, lease, corporate charter or by-laws, or any other Material agreement or instrument to which the Company or any Subsidiary is bound or by which the Company or any Subsidiary
or any of their respective properties is bound, (b) conflict with or result in a breach of any of the terms, conditions or provisions of any order, judgment, decree, or ruling of any court, arbitrator or Governmental Authority applicable to the
Company or any Subsidiary or (c) violate any provision of any statute or other rule or regulation of any Governmental Authority applicable to the Company or any Subsidiary. 

 

	 	5.7.	Governmental Authorizations, Etc. 

 No consent, approval or authorization of, or
registration, filing or declaration with, any Governmental Authority is required to be obtained or made by the Company in connection with the execution, delivery or performance by the Company of this Agreement or the Notes. 

  
 -6- 








	 	5.8.	Litigation; Observance of Agreements, Statutes and Orders. 

 (a)
There are no actions, suits, investigations or proceedings pending or, to the knowledge of the Company, threatened against or affecting the Company or any Subsidiary or any property of the Company or any Subsidiary in any court or before any
arbitrator of any kind or before or by any Governmental Authority that, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. 

(b) Neither the Company nor any Subsidiary is in default under any term of any agreement or instrument to which it is a party
or by which it is bound, or any order, judgment, decree or ruling of any court, arbitrator or Governmental Authority or is in violation of any applicable law, ordinance, rule or regulation (including without limitation Environmental Laws, the USA
Patriot Act or any of the laws and regulations referred to in Section 5.16) of any Governmental Authority, which default or violation, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. 

 

	 	5.9.	Taxes. 

 The Company and its Subsidiaries have filed all tax returns that are
required to have been filed in any jurisdiction, and have paid all taxes shown to be due and payable on such returns and all other taxes and assessments levied upon them or their properties, assets, income or franchises, to the extent such taxes and
assessments have become due and payable and before they have become delinquent, except for any taxes and assessments (a) the amount of which is not individually or in the aggregate Material or (b) the amount, applicability or validity of
which is currently being contested in good faith by appropriate proceedings and with respect to which the Company or a Subsidiary, as the case may be, has established adequate reserves in accordance with GAAP. The Company knows of no basis for any
other tax or assessment that could reasonably be expected to have a Material Adverse Effect. The charges, accruals and reserves on the books of the Company and its Subsidiaries in respect of Federal, state or other taxes for all fiscal periods have
been determined in accordance with GAAP. The Federal income tax liabilities of the Company and its Subsidiaries have been finally determined (whether by reason of completed audits or the statute of limitations having run) for all fiscal years up to
and including the fiscal year ended December 31, 2009. 
  

	 	5.10.	Title to Property; Leases. 

 The Company and its Subsidiaries have good and
defensible title to their respective properties that individually or in the aggregate are Material, including all such properties reflected in the most recent audited balance sheet referred to in Section 5.5 or purported to have been acquired
by the Company or any Subsidiary after said date (except as sold or otherwise disposed of in compliance with this Agreement as if this Agreement had been in effect), in each case free and clear of Liens prohibited by this Agreement. All leases that
individually or in the aggregate are Material are valid and subsisting and are in full force and effect in all material respects. 

  
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	 	5.11.	Licenses, Permits, Etc. 

 The Company and its Subsidiaries own or possess all
licenses, permits, franchises, authorizations, patents, copyrights, proprietary software, service marks, trademarks and trade names, or rights thereto, that individually or in the aggregate are Material, without known conflict with the rights of
others, except for those conflicts that, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect. 
  

	 	5.12.	Compliance with ERISA. 

 (a) The Company and each ERISA Affiliate
have operated and administered each Plan in compliance with all applicable laws except for such instances of noncompliance as have not resulted in and could not, individually or in the aggregate, reasonably be expected to result in a Material
Adverse Effect. Neither the Company nor any ERISA Affiliate has incurred any liability (other than Title IV premiums satisfied in due course) pursuant to Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating to
employee benefit plans (as defined in section 3 of ERISA), and no event, transaction or condition has occurred or exists that could, individually or in the aggregate, reasonably be expected to result in the incurrence of any such liability by the
Company or any ERISA Affiliate, or in the imposition of any Lien on any of the rights, properties or assets of the Company or any ERISA Affiliate, in either case pursuant to Title I or IV of ERISA or to section 430(k) of the Code or to any such
penalty or excise tax provisions under the Code or section 4068 of ERISA or by the granting of a security interest in connection with the amendment of a Plan, other than such liabilities or Liens as would not be individually or in the aggregate
Material. 
 (b) The present value of the aggregate benefit liabilities under each of the Plans that are subject to Title IV
of ERISA (other than Multiemployer Plans), determined as of the end of such Plan’s most recently ended plan year on the basis of the actuarial assumptions specified for funding purposes in such Plan’s most recent actuarial valuation
report, did not exceed the aggregate current value of the assets of such Plans allocable to such benefit liabilities. The term “benefit liabilities” has the meaning specified in section 4001 of ERISA and the terms
“current value” and “present value” have the meaning specified in section 3 of ERISA. 

(c) The Company and its ERISA Affiliates have not incurred any unsatisfied withdrawal liabilities (and are not subject to
contingent withdrawal liabilities) under section 4201 or 4204 of ERISA in respect of Multiemployer Plans that individually or in the aggregate are Material. 

(d) The expected postretirement benefit obligation (determined as of the last day of the Company’s most recently ended
fiscal year in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 715-60, without regard to liabilities attributable to continuation coverage mandated by section 4980B of the Code) of the Company and its
Subsidiaries is not Material. 

  
 -8- 







 (e) The execution and delivery of this Agreement and the issuance and sale of the
Notes hereunder will not involve any non-exempt transaction that is subject to the prohibitions of section 406(a) of ERISA or in connection with which a tax could be imposed pursuant to section 4975(c)(1)(A)-(D) of the Code. The
representation by the Company to each Purchaser in the first sentence of this Section 5.12(e) is made in reliance upon and subject to the accuracy of such Purchaser’s representation in Section 6.2 as to the sources of the funds to be
used to pay the purchase price of the Notes to be purchased by such Purchaser. 
  

	 	5.13.	Private Offering by the Company. 

 Neither the Company nor anyone acting on its
behalf has offered the Notes or any similar Securities for sale to, or solicited any offer to buy any of the same from, or otherwise approached or negotiated in respect thereof with, any person other than the Purchasers and other Institutional
Investors (as defined in clause (c) to the definition of such term) totaling not more than 70 (inclusive of the Purchasers), each of which has been offered the Notes at a private sale for investment. Neither the Company nor anyone acting on its
behalf has taken, or will take, any action that would subject the issuance or sale of the Notes to the registration requirements of Section 5 of the Securities Act or to the registration requirements of any Securities or blue sky laws of any
applicable jurisdiction. 
  

	 	5.14.	Use of Proceeds; Margin Regulations. 

 The Company will apply the proceeds of the
sale of the Notes to refinance certain existing Indebtedness and for general corporate purposes. No part of the proceeds from the sale of the Notes hereunder will be used, directly or indirectly, for the purpose of buying or carrying any margin
stock within the meaning of Regulation U of the Board of Governors of the Federal Reserve System (12 CFR 221), or for the purpose of buying or carrying or trading in any Securities under such circumstances as to involve the Company in a
violation of Regulation X of said Board (12 CFR 224) or to involve any broker or dealer in a violation of Regulation T of said Board (12 CFR 220). Margin stock does not constitute more than 20% of the value of the consolidated assets of the Company
and its Subsidiaries and the Company does not have any present intention that margin stock will constitute more than 20% of the value of such assets. As used in this Section, the terms “margin stock” and “purpose of buying or
carrying” shall have the meanings assigned to them in said Regulation U. 
  

	 	5.15.	Existing Indebtedness; Future Liens 

 (a) Except as described therein,
Schedule 5.15 sets forth a complete and correct list of all outstanding Indebtedness of the Company and its Subsidiaries as of June 30, 2014 (including a description of the obligors and obligees, principal amount outstanding and collateral
therefor, if any, and Guaranty thereof, if any), since which date there has been no Material change in the amounts, interest rates, sinking funds, installment payments or maturities of the Indebtedness of the Company or its Subsidiaries. Neither the
Company nor any Subsidiary is in default and no waiver of default is currently in effect, in the payment of any principal or interest on any Indebtedness of the Company or such Subsidiary and no event or condition exists with


  
 -9- 







 
respect to any Indebtedness of the Company or any Subsidiary that would permit (or that with notice or the lapse of time, or both, would permit) one or more Persons to cause such Indebtedness to
become due and payable before its stated maturity or before its regularly scheduled dates of payment. 
 (b) Except as
disclosed in Schedule 5.15, neither the Company nor any Subsidiary has agreed or consented to cause or permit in the future (upon the happening of a contingency or otherwise) any of its property, whether now owned or hereafter acquired, to be
subject to a Lien not permitted by Section 10.5. 
 (c) Neither the Company nor any Subsidiary is a party to, or
otherwise subject to any provision contained in, any instrument evidencing Indebtedness of the Company or such Subsidiary, any agreement relating thereto or any other agreement (including, but not limited to, its charter or other organizational
document) which limits the amount of, or otherwise imposes restrictions on the incurring of, Indebtedness of the Company, except as specifically indicated in Schedule 5.15. 

 

	 	5.16.	Foreign Assets Control Regulations, Etc. 

 (a) Neither the Company
nor any Controlled Entity is (i) a Person whose name appears on the list of Specially Designated Nationals and Blocked Persons published by the Office of Foreign Assets Control, United States Department of Treasury (“OFAC”) (an
“OFAC Listed Person”) or (ii) a department, agency or instrumentality of, or is otherwise controlled by or acting on behalf of, directly or indirectly, (x) any OFAC Listed Person or (y) any Person that is subject to
any OFAC Sanctions Program (each OFAC Listed Person and each other Person described in clause (ii), a “Blocked Person”). Neither the Company nor any Controlled Entity is engaged in any activities that could subject such Person or
any Purchaser to sanctions under CISADA or under any applicable law of any state of the United States that imposes sanctions on Persons that do business with Iran or any other country that is subject to an OFAC Sanctions Program. 

(b) No part of the proceeds from the sale of the Notes hereunder constitutes or will constitute funds obtained on behalf of any
Blocked Person or will otherwise be used by the Company or any Controlled Entity, directly or indirectly, in connection with any investment in, or any transactions or dealings with, any Blocked Person. 

(c) To the Company’s actual knowledge after making due inquiry, neither the Company nor any Controlled Entity (i) is
under investigation by any Governmental Authority for, or has been charged with, or convicted of, money laundering, drug trafficking, terrorist-related activities or other money laundering predicate crimes under any applicable law (collectively,
“Anti-Money Laundering Laws”), (ii) has been assessed civil penalties under any Anti-Money Laundering Laws or (iii) has had any of its funds seized or forfeited in an action under any Anti-Money Laundering Laws. The
Company has taken reasonable measures appropriate to the circumstances (in any event as required by applicable law), to ensure that the Company and each Controlled Entity is and will continue to be in compliance with all Anti-Money Laundering Laws.


  
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 (d) No part of the proceeds from the sale of the Notes hereunder will be used,
directly or indirectly, for any improper payments to any governmental official or employee, political party, official of a political party, candidate for political office, official of any public international organization or anyone else acting in an
official capacity, in order to obtain, retain or direct business or obtain any improper advantage. The Company has taken reasonable measures appropriate to the circumstances (in any event as required by applicable law), to ensure that the Company
and each Controlled Entity is and will continue to be in compliance with all applicable anti-corruption laws and regulations. 
  

	 	5.17.	Status under Certain Statutes. 

 (a) Neither the Company nor any
Subsidiary is subject to regulation under the Investment Company Act of 1940, as amended. 
 (b) Neither the Company nor any
Subsidiary is a “public utility,” as that term is defined under the Federal Power Act, as amended, and the regulations publicly promulgated thereunder (collectively, the “FPA”) by the Federal Energy Regulatory Commission
(“FERC”). Following the consummation of the transactions contemplated by this Agreement, solely as a result of the execution and delivery hereof and thereof, no Purchaser or holder of Notes shall be subject to regulation as a
“public utility” or as an “affiliate” thereof under the FPA. 
  

	 	5.18.	Environmental Matters. 

 Except for such matters that individually, or in the
aggregate could not reasonably be expected to have a Material Adverse Effect, neither the Company nor any of its Subsidiaries (a) has failed to comply with any Environmental Law or to obtain, maintain or comply with any permit, license or other
approval required under any Environmental Law, (b) has become subject to any Environmental Liability, (c) has received any notice of any claim with respect to any Environmental Liability or (d) knows of any basis for any Environmental
Liability. 
  

	 	5.19.	Ranking of Obligations. 

 The Company’s payment obligations under this
Agreement and the Notes will, upon issuance of the Notes, rank at least pari passu, without preference of priority, with all other unsecured and unsubordinated Indebtedness of the Company. 

 

	6.	REPRESENTATIONS OF THE PURCHASERS. 

  

	 	6.1.	Purchase for Investment. 

 Each Purchaser severally represents that it is
purchasing the Notes for its own account or for one or more separate accounts maintained by such Purchaser or for the account of one or more pension or trust funds and not with a view to the distribution thereof, provided that the disposition of
such Purchaser’s or their property shall at all times be within such Purchaser’s or their control. Each Purchaser understands that the Notes have not been registered under the Securities Act and may be resold only if registered pursuant to
the provisions of the Securities 

  
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Act or if an exemption from registration is available, except under circumstances where neither such registration nor such an exemption is required by law, and that the Company is not required to
register the Notes. 
  

	 	6.2.	Source of Funds. 

 Each Purchaser severally represents that at least one of the
following statements is an accurate representation as to each source of funds (a “Source”) to be used by such Purchaser to pay the purchase price of the Notes to be purchased by such Purchaser hereunder: 

(a) the Source is an “insurance company general account” (as the term is defined in the United States Department of
Labor’s Prohibited Transaction Exemption (“PTE”) 95-60) in respect of which the amount of the reserves and liabilities (as defined by the annual statement for life insurance companies approved by the NAIC (the “NAIC
Annual Statement”)) for the general account contract(s) held by or on behalf of any employee benefit plan together with the amount of the reserves and liabilities for the general account contract(s) held by or on behalf of any other
employee benefit plans maintained by the same employer (or affiliate thereof as defined in PTE 95-60) or by the same employee organization in the general account do not exceed 10% of the total reserves and liabilities of the general account
(exclusive of separate account liabilities) plus surplus as set forth in the NAIC Annual Statement filed with such Purchaser’s state of domicile; or 

(b) the Source is a separate account of an insurance company that is maintained solely in connection with such Purchaser’s
fixed contractual obligations of the insurance company under which the amounts payable, or credited, to any employee benefit plan (or its related trust) that has any interest in such separate account (or to any participant or beneficiary of such
plan (including any annuitant)) are not affected in any manner by the investment performance of the separate account; or 

(c) the Source is either (i) an insurance company pooled separate account, within the meaning of PTE 90-1 or (ii) a
bank collective investment fund, within the meaning of the PTE 91-38 and, except as disclosed by such Purchaser to the Company in writing pursuant to this clause (c), no employee benefit plan or group of plans maintained by the same employer or
employee organization beneficially owns more than 10% of all assets allocated to such pooled separate account or collective investment fund; or 

(d) the Source constitutes assets of an “investment fund” (within the meaning of Part VI of PTE 84-14 (the
“QPAM Exemption”)) managed by a “qualified professional asset manager” or “QPAM” (within the meaning of Part VI of the QPAM Exemption), no employee benefit plan’s assets that are managed by the QPAM in such
investment fund, when combined with the assets of all other employee benefit plans established or maintained by the same employer or by an affiliate (within the meaning of Part VI(c)(1) of the QPAM Exemption) of such employer or by the same employee
organization and managed by such QPAM, represent more than 20% of the total client assets managed by such QPAM, the conditions of Part I(c) and (g) of the QPAM Exemption are satisfied, neither the QPAM nor a person controlling or controlled by
the 

  
 -12- 







 
QPAM maintains an ownership interest in the Company that would cause the QPAM and the Company to be “related” within the meaning of Part VI(h) of the QPAM Exemption and (i) the
identity of such QPAM and (ii) the names of any employee benefit plans whose assets in the investment fund, when combined with the assets of all other employee benefit plans established or maintained by the same employer or by an affiliate
(within the meaning of Part VI(c)(1) of the QPAM Exemption) of such employer or by the same employee organization, represent 10% or more of the assets of such investment fund, have been disclosed to the Company in writing pursuant to this clause
(d); or 
 (e) the Source constitutes assets of a “plan(s)” (within the meaning of Part IV(h) of PTE 96-23 (the
“INHAM Exemption”)) managed by an “in-house asset manager” or “INHAM” (within the meaning of Part IV(a) of the INHAM Exemption), the conditions of Part I(a), (g) and (h) of the INHAM Exemption are
satisfied, neither the INHAM nor a person controlling or controlled by the INHAM (applying the definition of “control” in Part IV(d)(3) of the INHAM Exemption) owns a 10% or more interest in the Company and (i) the identity of such
INHAM and (ii) the name(s) of the employee benefit plan(s) whose assets constitute the Source have been disclosed to the Company in writing pursuant to this clause (e); or 

(f) the Source is a governmental plan; or 

(g) the Source is one or more employee benefit plans, or a separate account or trust fund comprised of one or more employee
benefit plans, each of which has been identified to the Company in writing pursuant to this clause (g); or 
 (h) the Source
does not include assets of any employee benefit plan, other than a plan exempt from the coverage of ERISA and section 4975 of the Code. 
 As used in this
Section 6.2, the terms “employee benefit plan,” “governmental plan,” and “separate account” shall have the respective meanings assigned to such terms in section 3 of ERISA. 

 

	7.	INFORMATION AS TO COMPANY. 

  

	 	7.1.	Financial and Business Information. 

 The Company shall deliver to each holder of
Notes that is an Institutional Investor: 
 (a) Quarterly Statements — within 60 days (or such shorter period as
is 15 days greater than the period applicable to the filing of the Company’s Quarterly Report on Form 10-Q (the “Form 10-Q”) with the SEC
regardless of whether the Company is subject to the filing requirements thereof) after the end of each quarterly fiscal period in each fiscal year of the Company (other than the last quarterly fiscal period of each such fiscal year), duplicate
copies of, 
 (i) a consolidated balance sheet of the Company and its Subsidiaries as at the end of such quarter, and 

(ii) consolidated statements of income, changes in shareholders’ equity and cash flows of the Company and its
Subsidiaries, for such quarter and (in the case of the second and third quarters) for the portion of the fiscal year ending with such quarter, 

  
 -13- 







 setting forth in each case in comparative form the figures for the corresponding periods in the
previous fiscal year, all in reasonable detail, prepared in accordance with GAAP applicable to quarterly financial statements generally, and certified by a Senior Financial Officer as fairly presenting, in all material respects, the financial
position of the companies being reported on and their results of operations and cash flows, subject to changes resulting from year-end adjustments, provided that delivery within the time period specified above of copies of the Company’s Form 10-Q prepared in compliance with the requirements therefor and filed with the SEC shall be deemed to satisfy the requirements of this Section 7.1(a), provided, further, that the Company shall be
deemed to have made such delivery of such Form 10-Q if it shall have timely made such Form 10-Q available on “EDGAR” and on its home page on the
worldwide web (at the date of this Agreement located at: http//www.cabotog.com) and shall have given each Purchaser prior notice of such availability on EDGAR and on its home page in connection with each delivery (such availability and notice
thereof being referred to as “Electronic Delivery”); 
 (b) Annual Statements — within 90 days
(or such shorter period as is 15 days greater than the period applicable to the filing of the Company’s Annual Report on Form 10-K (the
“Form 10-K”) with the SEC regardless of whether the Company is subject to the filing requirements thereof) after the end of each fiscal year of the Company, duplicate copies of, 

(i) a consolidated balance sheet of the Company and its Subsidiaries as at the end of such year, and 

(ii) consolidated statements of income, changes in shareholders’ equity and cash flows of the Company and its Subsidiaries
for such year, setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail, prepared in accordance with GAAP, and accompanied by an opinion thereon of independent public accountants of recognized
national standing, which opinion shall state that such financial statements present fairly, in all material respects, the financial position of the companies being reported upon and their results of operations and cash flows and have been prepared
in conformity with GAAP, and that the examination of such accountants in connection with such financial statements has been made in accordance with generally accepted auditing standards, and that such audit provides a reasonable basis for such
opinion in the circumstances, 
 provided that the delivery within the time period specified above of the Company’s Form 10-K for such fiscal year (together with the Company’s annual report to shareholders, if any, prepared pursuant to Rule 14a-3 under the Exchange Act)
prepared in accordance with the requirements therefor and filed with the SEC shall be deemed to 

  
 -14- 







 
satisfy the requirements of this Section 7.1(b), provided, further, that the Company shall be deemed to have made such delivery of such Form 10-K
if it shall have timely made Electronic Delivery thereof; 
 (c) SEC and Other Reports — promptly upon their
becoming available, one copy of each regular or periodic report, each registration statement (without exhibits except as expressly requested by such holder and any registration statements on Form S-8 or its equivalent), and each prospectus and all
amendments thereto filed by the Company or any Subsidiary with the SEC; provided, that the Company shall be deemed to have made such delivery of the foregoing if it shall have timely made Electronic Delivery thereof; 

(d) Notice of Default or Event of Default — promptly, and in any event within five days after a Responsible Officer
becoming aware of the existence of any Default or Event of Default or that any Person has given any notice or taken any action with respect to a claimed default hereunder or that any Person has given any notice or taken any action with respect to a
claimed default of the type referred to in Section 11(f), a written notice specifying the nature and period of existence thereof and what action the Company is taking or proposes to take with respect thereto; 

(e) ERISA Matters — promptly, and in any event within five days after a Responsible Officer becoming aware of any
of the following, a written notice setting forth the nature thereof and the action, if any, that the Company or an ERISA Affiliate proposes to take with respect thereto: 

(i) with respect to any Plan, any reportable event, as defined in section 4043(c) of ERISA and the regulations thereunder,
for which notice thereof has not been waived pursuant to such regulations as in effect on the date hereof; or 
 (ii) the
taking by the PBGC of steps to institute, or the threatening by the PBGC of the institution of, proceedings under section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan, or the receipt by the
Company or any ERISA Affiliate of a notice from a Multiemployer Plan that such action has been taken by the PBGC with respect to such Multiemployer Plan; or 

(iii) any event, transaction or condition that could result in the incurrence of any liability by the Company or any ERISA
Affiliate pursuant to Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit plans, or in the imposition of any Lien on any of the rights, properties or assets of the Company or any ERISA Affiliate
pursuant to Title I or IV of ERISA, the Pension Funding Rules, or such penalty or excise tax provisions, if such liability or Lien, taken together with any other such liabilities or Liens then existing, could reasonably be expected to have a
Material Adverse Effect; 

  
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 (f) Notices from Governmental Authority — promptly, and in any event
within 30 days of receipt thereof, copies of any notice to the Company or any Subsidiary from any Federal or state Governmental Authority relating to any order, ruling, statute or other law or regulation that could reasonably be expected to have a
Material Adverse Effect; 
 (g) Engineering Reports — by April 10th of each year, a report in form and
substance reasonably satisfactory to the Required Holders prepared by or under the supervision of a petroleum engineer who may be an employee of the Company, which shall evaluate all net Proved Reserves owned by the Company and its Subsidiaries as
of the preceding December 31st and which shall set forth the information necessary to determine the Present Value of Proved Reserves as of such date, together with a review report thereon in form and substance reasonably satisfactory to the
Required Holders by Miller & Lents, Ltd. or other independent petroleum engineers of nationally recognized standing; and 

(h) Borrowing Base Reports — promptly, and in any event within three (3) Business Days of receipt thereof, a
copy of each New Borrowing Base Notice (as defined in the Bank Credit Agreement) (or similar borrowing base notice under any successor agreement) received by the Company; and 

(i) Requested Information — with reasonable promptness, such other data and information relating to the business,
operations, affairs, financial condition, assets or properties of the Company or any of its Subsidiaries (including, but without limitation, actual copies of the Company’s Form 10-Q and Form 10-K) or relating to the ability of the Company to perform its obligations hereunder and under the Notes as from time to time may be reasonably requested by any such holder of Notes. 

 

	 	7.2.	Officer’s Certificate. 

 Each set of financial statements delivered to a
holder of Notes pursuant to Section 7.1(a) or Section 7.1(b) shall be accompanied by a certificate of a Senior Financial Officer setting forth (which, in the case of Electronic Delivery of any such financial statements, shall be by
separate concurrent delivery of such certificate to each holder of Notes): 
 (a) Covenant Compliance — the
information (including detailed calculations) required in order to establish whether the Company was in compliance with the requirements of Sections 10.7, 10.8 and 10.9, inclusive, during the quarterly or annual period covered by the statements then
being furnished (including with respect to each such Section, where applicable, the calculations of the maximum or minimum amount, ratio or percentage, as the case may be, permissible under the terms of such Sections, and the calculation of the
amount, ratio or percentage then in existence). In the event that the Company or any Subsidiary has made an election to measure any financial liability using fair value (which election is being disregarded for purposes of determining compliance with
this Agreement pursuant to Section 22.3) as to the period covered by any such financial statement, such Senior Financial Officer’s certificate as to such period shall include a reconciliation from GAAP with respect to such election; and


  
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 (b) Event of Default — a statement that such Senior Financial Officer
has reviewed the relevant terms hereof and has made, or caused to be made, under his or her supervision, a review of the transactions and conditions of the Company and its Subsidiaries from the beginning of the quarterly or annual period covered by
the statements then being furnished to the date of the certificate and that such review shall not have disclosed the existence during such period of any condition or event that constitutes a Default or an Event of Default or, if any such condition
or event existed or exists (including, without limitation, any such event or condition resulting from the failure of the Company or any Subsidiary to comply with any Environmental Law), specifying the nature and period of existence thereof and what
action the Company shall have taken or proposes to take with respect thereto. 
 (c) Additional Information — a
list of all obligors, borrowers and guarantors under the Bank Credit Agreement (or a statement that the list of obligors, borrowers and guarantors under the Bank Credit Agreement most recently delivered pursuant to this Section 7.2 remains
unchanged) together with a copy of each guaranty, joinder agreement or such other agreement evidencing its obligations thereunder executed in connection therewith or in connection with this Agreement since the date of the last certificate required
under this Section to be delivered to each holder of Notes. 
  

	 	7.3.	Visitation. 

 The Company shall permit the representatives of each holder of
Notes that is an Institutional Investor: 
 (a) No Default — if no Default or Event of Default then exists, at
the expense of such holder and upon reasonable prior notice to the Company, to visit the principal executive office of the Company, to discuss the affairs, finances and accounts of the Company and its Subsidiaries with the Company’s officers,
and (with the consent of the Company, which consent will not be unreasonably withheld) its independent public accountants (provided that representatives of the Company shall have the right to be present during any such discussion with the
Company’s independent public accountants), and (with the consent of the Company, which consent will not be unreasonably withheld) to visit the other offices and properties of the Company and each Subsidiary, all at such reasonable times and as
often as may be reasonably requested in writing; provided that each holder shall not be entitled to more than one visitation during any fiscal year; and 

(b) Default — if a Default or Event of Default then exists, at the expense of the Company to visit and inspect any
of the offices or properties of the Company or any Subsidiary during normal business hours, to examine all their respective books of account, records, reports and other papers, to make copies and extracts therefrom, and to discuss their respective
affairs, finances and accounts with their respective officers and independent public accountants (and by this provision the Company authorizes said accountants to discuss the affairs, finances and accounts of the Company and its Subsidiaries), all
at such times and as often as may be requested. 

  
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	8.	PAYMENT AND PREPAYMENT OF THE NOTES. 

  

	 	8.1.	Maturity. 

 As provided therein, the entire unpaid principal balance of the Notes
shall be due and payable on the stated maturity date thereof. 
  

	 	8.2.	Optional Prepayments with Make-Whole Amount. 

 The Company may, at its option,
upon notice as provided below, prepay at any time all, or from time to time any part of, the Notes, (but if in part, in an amount not less than $1,000,000 or such lesser amount as shall then be outstanding), at 100% of the principal amount so
prepaid, and the Make-Whole Amount determined for the prepayment date with respect to such principal amount. The Company will give each holder of Notes written notice of each optional prepayment under this Section 8.2 not less than 30 days and
not more than 60 days prior to the date fixed for such prepayment. Each such notice shall specify such date (which shall be a Business Day), the aggregate principal amount of the Notes to be prepaid on such date, the principal amount of each Note
held by such holder to be prepaid (determined in accordance with Section 8.5), and the interest to be paid on the prepayment date with respect to such principal amount being prepaid, and shall be accompanied by a certificate of a Senior
Financial Officer as to the estimated Make-Whole Amount due in connection with such prepayment (calculated as if the date of such notice were the date of the prepayment), setting forth the details of such computation. Two Business Days prior to such
prepayment, the Company shall deliver to each holder of Notes a certificate of a Senior Financial Officer specifying the calculation of such Make-Whole Amount as of the specified prepayment date. 

 

	 	8.3.	Prepayment of Notes Upon Change of Control. 

 (a) Notice of
Change of Control or Control Event; Offer to Prepay if Change of Control Has Occurred. The Company will, within 5 Business Days after any Responsible Officer has knowledge of the occurrence of any Change of Control or Control Event (subject to
extension if necessary in order to comply with applicable law), give notice of such Change of Control or Control Event to each holder of Notes. If a Change of Control has occurred, such notice shall contain and constitute an offer to prepay Notes as
described in paragraph (b) of this Section 8.3 and shall be accompanied by the certificate described in paragraph (e) of this Section 8.3. 

(b) Offer to Prepay; Time for Payment. The offer to prepay Notes contemplated by paragraph (a) of this
Section 8.3 shall be an offer to prepay, in accordance with and subject to this Section 8.3, all, but not less than all, of the Notes held by each holder (in the case of this Section 8.3 only, “holder” in respect of any Note
registered in the name of a nominee for a disclosed beneficial owner shall mean such beneficial owner) on a date specified in such offer (the “Proposed Prepayment Date”). The Proposed Prepayment Date shall not be less than 15 days
and not more than 60 days after the date of such offer (if the Proposed Prepayment Date shall not be specified in the offer, the Proposed Prepayment Date shall be the 45th day after the date of such offer). 

  
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 (c) Acceptance; Rejection. A holder of Notes may accept the offer to
prepay made pursuant to this Section 8.3 by causing a notice of such acceptance to be delivered to the Company at least 5 days prior to the Proposed Prepayment Date. A failure by a holder of Notes to respond to an offer to prepay made pursuant
to this Section 8.3, or to accept an offer as to all of the Notes held by the holder, within such time period shall be deemed to constitute a rejection of such offer by such holder. 

(d) Prepayment. Prepayment of the Notes to be prepaid pursuant to this Section 8.3 shall be at 100% of the
principal amount of such Notes, together with interest on such Notes accrued to the date of prepayment. On the Business Day preceding the date of prepayment, the Company shall deliver to each holder of Notes being prepaid a statement setting forth
the details of the computation of such amount. The prepayment shall be made on the Proposed Prepayment Date. 
 (e)
Officer’s Certificate. Each offer to prepay the Notes pursuant to this Section 8.3 shall be accompanied by a certificate, executed by a Senior Financial Officer of the Company and dated the date of such offer, specifying:
(i) the Proposed Prepayment Date, (ii) that such offer is made pursuant to this Section 8.3, (iii) that the entire principal amount of each Note is offered to be prepaid, (iv) the interest that would be due on each Note
offered to be prepaid, accrued to the Proposed Prepayment Date, (v) that the conditions of this Section 8.3 required to be fulfilled prior to the giving of such notice have been fulfilled and (vi) in reasonable detail, the nature and
date of the Change of Control. 
  

	 	8.4.	Prepayment in Connection with a Disposition. 

 (a) Notice and
Offer. In the event any Debt Prepayment Application is to be used to make an offer (a “Transfer Prepayment Offer”) to prepay Notes pursuant to Section 10.6 of this Agreement (a “Debt Prepayment Transfer”),
the Company will give written notice of such Debt Prepayment Transfer to each holder of Notes. Such written notice shall contain, and such written notice shall constitute, an irrevocable offer to prepay, at the election of each holder, a portion of
the Notes held by such holder equal to such holder’s Ratable Portion of the net proceeds in respect of such Debt Prepayment Transfer on a date specified in such notice (the “Transfer Prepayment Date”) that is not less than
thirty (30) days and not more than sixty (60) days after the date of such notice, together with interest on the amount to be so prepaid accrued to the Transfer Prepayment Date. If the Transfer Prepayment Date shall not be specified in such
notice, the Transfer Prepayment Date shall be the thirtieth (30th) day after the date of such notice. 
 (b)
Acceptance and Payment. To accept such Transfer Prepayment Offer, a holder of Notes shall cause a notice of such acceptance to be delivered to the Company at least 5 days prior to the Transfer Prepayment Date, provided, that failure to accept
such offer in writing within such time period shall be deemed to constitute a rejection of the Transfer Prepayment Offer. If so accepted by any holder of a Note, such offered prepayment (equal to not less than such holder’s Ratable Portion of
the net proceeds in respect of such Debt Prepayment Transfer) shall be due and payable on the Transfer Prepayment Date. Such offered prepayment shall be made at one hundred percent 

  
 -19- 







 
(100%) of the principal amount of such Notes being so prepaid, together with interest on such principal amount then being prepaid accrued to the Transfer Prepayment Date determined as of the date
of such prepayment. 
 (c) Other Terms. Each offer to prepay the Notes pursuant to this Section 8.4 shall be
accompanied by a certificate, executed by a Senior Financial Officer of the Company and dated the date of such offer, specifying (i) the Transfer Prepayment Date, (ii) the net proceeds in respect of the applicable Debt Prepayment Transfer,
(iii) that such offer is being made pursuant to Section 8.4 and Section 10.6 of this Agreement, (iv) the principal amount of each Note offered to be prepaid, (v) the interest that would be due on each Note offered to be
prepaid, accrued to the Transfer Prepayment Date and (vi) in reasonable detail, the nature of the Disposition giving rise to such Debt Prepayment Transfer and certifying that no Default or Event of Default exists or would exist after giving
effect to the prepayment contemplated by such offer. 
 (d) Notice Concerning Status of Holders of Notes. Promptly
after each Transfer Prepayment Date and the making of all prepayments contemplated on such Transfer Prepayment Date under this Section 8.4 (and, in any event, within thirty (30) days thereafter), the Company shall deliver to each holder of
Notes a certificate signed by a Senior Financial Officer of the Company containing a list of the then current holders of Notes (together with their addresses) and setting forth as to each such holder the outstanding principal amount of Notes held by
such holder at such time. 
  

	 	8.5.	Allocation of Partial Prepayments. 

 In the case of each partial prepayment of
the Notes pursuant to Section 8.2, the principal amount of the Notes to be prepaid shall be allocated among all of the Notes at the time outstanding in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof not
theretofore called for prepayment, without regard to the Series of Notes. 
  

	 	8.6.	Maturity; Surrender, Etc. 

 In the case of each prepayment of Notes pursuant to
this Section 8, the principal amount of each Note to be prepaid shall mature and become due and payable on the date fixed for such prepayment (which shall be a Business Day), together with interest on such principal amount accrued to such date
and the applicable Make-Whole Amount, if any. From and after such date, unless the Company shall fail to pay such principal amount when so due and payable, together with the interest and Make-Whole Amount, if any, as aforesaid, interest on such
principal amount shall cease to accrue. Any Note paid or prepaid in full shall be surrendered to the Company and cancelled and shall not be reissued, and no Note shall be issued in lieu of any prepaid principal amount of any Note. 

 

	 	8.7.	Purchase of Notes. 

 The Company will not and will not permit any Affiliate to
purchase, redeem, prepay or otherwise acquire, directly or indirectly, any of the outstanding Notes except (a) upon the payment or prepayment of the Notes in accordance with the terms of this Agreement and the Notes or (b) pursuant to an
offer to purchase made by the Company or an Affiliate pro rata to the 

  
 -20- 







 
holders of all Notes at the time outstanding upon the same terms and conditions. Any such offer shall provide each holder with sufficient information to enable it to make an informed decision
with respect to such offer, and shall remain open for at least 30 Business Days. If the holders of more than 25% of the principal amount of the Notes then outstanding accept such offer, the Company shall promptly notify the remaining holders of such
fact and the expiration date for the acceptance by holders of Notes of such offer shall be extended by the number of days necessary to give each such remaining holder at least 10 Business Days from its receipt of such notice to accept such offer.
The Company will promptly cancel all Notes acquired by it or any Affiliate pursuant to any payment or prepayment of Notes pursuant to any provision of this Agreement and no Notes may be issued in substitution or exchange for any such Notes. 

 

	 	8.8.	Make-Whole Amount. 

 “Make-Whole Amount” means, with respect to
any Note of any Series, an amount equal to the excess, if any, of the Discounted Value of the Remaining Scheduled Payments with respect to the Called Principal of such Note of such Series over the amount of such Called Principal, provided that the
Make-Whole Amount may in no event be less than zero. For the purposes of determining the Make-Whole Amount, the following terms have the following meanings: 

“Called Principal” means, with respect to any Note of any Series, the principal of such Note that is to be prepaid pursuant
to Section 8.2, or has become or is declared to be immediately due and payable pursuant to Section 12.1, as the context requires. 

“Discounted Value” means, with respect to the Called Principal of any Note of any Series, the amount obtained by discounting
all Remaining Scheduled Payments with respect to such Called Principal from their respective scheduled due dates to the Settlement Date with respect to such Called Principal, in accordance with accepted financial practice and at a discount factor
(applied on the same periodic basis as that on which interest on such Series of Notes is payable) equal to the Reinvestment Yield with respect to such Called Principal. 

“Reinvestment Yield” means, with respect to the Called Principal of any Note of any Series, 0.50% over the yield to maturity
implied by the yield(s) reported as of 10:00 a.m. (New York City time) on the second Business Day preceding the Settlement Date with respect to such Called Principal, on the display designated as “Page PX1” (or such other display as may
replace Page PX1) on Bloomberg Financial Markets for the most recently issued actively traded on-the-run U.S. Treasury securities (“Reported”) having a maturity equal to the Remaining Average Life of such Called Principal as of such
Settlement Date. If there are no such U.S. Treasury securities Reported having a maturity equal to such Remaining Average Life, then such implied yield to maturity will be determined by (a) converting U.S. Treasury bill quotations to bond
equivalent yields in accordance with accepted financial practice and (b) interpolating linearly between the yields Reported for the applicable most recently issued actively traded on-the-run U.S. Treasury securities with the maturities
(1) closest to and greater than such Remaining Average Life and (2) closest to and less than such Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal places as appears in the interest rate of the
applicable Note. 

  
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 If such yields are not Reported or the yields Reported as of such time are not ascertainable
(including by way of interpolation), then “Reinvestment Yield” means, with respect to the Called Principal of any Note, 0.50% over the yield to maturity implied by the U.S. Treasury constant maturity yields reported, for the latest
day for which such yields have been so reported as of the second Business Day preceding the Settlement Date with respect to such Called Principal, in Federal Reserve Statistical Release H.15 (or any comparable successor publication) for the U.S.
Treasury constant maturity having a term equal to the Remaining Average Life of such Called Principal as of such Settlement Date. If there is no such U.S. Treasury constant maturity having a term equal to such Remaining Average Life, such implied
yield to maturity will be determined by interpolating linearly between (1) the U.S. Treasury constant maturity so reported with the term closest to and greater than such Remaining Average Life and (2) the U.S. Treasury constant maturity so
reported with the term closest to and less than such Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal places as appears in the interest rate of the applicable Series of Note. 

“Remaining Average Life” means, with respect to any Called Principal, the number of years obtained by dividing (i) such
Called Principal into (ii) the sum of the products obtained by multiplying (a) the principal component of each Remaining Scheduled Payment with respect to such Called Principal by (b) the number of years, computed on the basis of a
360-day year composed of twelve 30-day months and calculated to two decimal places, that will elapse between the Settlement Date with respect to such Called Principal and the scheduled due date of such Remaining Scheduled Payment. 

“Remaining Scheduled Payments” means, with respect to the Called Principal of any Note of any Series, all payments of such
Called Principal and interest thereon that would be due after the Settlement Date with respect to such Called Principal if no payment of such Called Principal were made prior to its scheduled due date, provided that if such Settlement Date is not a
date on which interest payments are due to be made under the terms of the Notes of such Series, then the amount of the next succeeding scheduled interest payment will be reduced by the amount of interest accrued to such Settlement Date and required
to be paid on such Settlement Date pursuant to Section 8.2 or Section 12.1. 
 “Settlement Date” means, with
respect to the Called Principal of any Note of any Series, the date on which such Called Principal is to be prepaid pursuant to Section 8.2, or has become or is declared to be immediately due and payable pursuant to Section 12.1, as the
context requires. 
  

	9.	AFFIRMATIVE COVENANTS. 

 The Company covenants that so long as any of the Notes are
outstanding: 
  

	 	9.1.	Compliance with Law. 

 Without limiting Section 10.4, the Company will, and
will cause each of its Subsidiaries to, comply with all laws, ordinances or governmental rules or regulations to which each of them is subject, including, without limitation, ERISA, Environmental Laws, the USA Patriot Act and the laws and
regulations referred to in Section 5.16, and will obtain and maintain in effect all 

  
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licenses, certificates, permits, franchises and other governmental authorizations necessary to the ownership of their respective properties or to the conduct of their respective businesses, in
each case to the extent necessary to ensure that non-compliance with such laws, ordinances or governmental rules or regulations or failures to obtain or maintain in effect such licenses, certificates, permits, franchises and other governmental
authorizations could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
  

	 	9.2.	Insurance. 

 The Company will, and will cause each of its Subsidiaries to,
maintain, with financially sound and reputable insurers, insurance with respect to their respective properties and businesses against such casualties and contingencies, of such types, on such terms and in such amounts (including deductibles,
co-insurance and self-insurance, if adequate reserves are maintained with respect thereto) as is customary in the case of entities of established reputations engaged in the same or a similar business and similarly situated. 

 

	 	9.3.	Maintenance of Properties. 

 The Company will, and will cause each of its
Subsidiaries to, maintain and keep, or cause to be maintained and kept, their respective properties in good repair, working order and condition (other than ordinary wear and tear), so that the business carried on in connection therewith may be
properly conducted at all times, provided that this Section shall not prevent the Company or any Subsidiary from discontinuing the operation and the maintenance of any of its properties if such discontinuance is desirable in the conduct of its
business and the Company has concluded that such discontinuance could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
  

	 	9.4.	Payment of Taxes and Claims. 

 The Company will, and will cause each of its
Subsidiaries to, file all tax returns required to be filed in any jurisdiction and to pay and discharge all taxes shown to be due and payable on such returns and all other taxes, assessments, governmental charges, or levies imposed on them or any of
their properties, assets, income or franchises, to the extent the same have become due and payable and before they have become delinquent and all claims for which sums have become due and payable that have or might become a Lien on properties or
assets of the Company or any Subsidiary, provided that neither the Company nor any Subsidiary need pay any such tax, assessment, charge, levy or claim if (a) the amount, applicability or validity thereof is contested by the Company or such
Subsidiary on a timely basis in good faith and in appropriate proceedings, and the Company or a Subsidiary has established adequate reserves therefor in accordance with GAAP on the books of the Company or such Subsidiary or (b) the nonpayment
of all such taxes, assessments, charges, levies and claims in the aggregate could not reasonably be expected to have a Material Adverse Effect. 
  

	 	9.5.	Corporate Existence, Etc. 

 Subject to Section 10.2, the Company will at all
times preserve and keep in full force and effect its corporate existence; provided that the Company may convert to a form other than a corporate form so long as (x) no Change of Control shall result therefrom and (y) such successor


  
 -23- 







 
(i) shall have executed and delivered, in form and substance reasonably satisfactory to the Required Holders, to each holder of any Notes its assumption of the due and punctual performance and
observance of each covenant and condition of this Agreement and the Notes, and (ii) shall have caused to be delivered to each holder of any Notes an opinion of nationally recognized independent counsel, or other independent counsel reasonably
satisfactory to the Required Holders, to the effect that all agreements or instruments effecting such assumption are enforceable in accordance with their terms and comply with the terms of this Section 9.5. Subject to Section 10.2, the
Company will at all times preserve and keep in full force and effect the legal existence of each of its Subsidiaries (unless merged into the Company or a Wholly-Owned Subsidiary) and all rights and franchises of the Company and its Subsidiaries
unless, in the good faith judgment of the Company, the termination of or failure to preserve and keep in full force and effect such legal existence, right or franchise could not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect. 
  

	 	9.6.	Books and Records. 

 The Company will, and will cause each of its Subsidiaries
to, maintain proper books of record and account in conformity with GAAP and all applicable requirements of any Governmental Authority having legal or regulatory jurisdiction over the Company or such Subsidiary, as the case may be. 

 

	 	9.7.	Ranking of Obligations. 

 The Company will ensure that its payment obligations
under this Agreement and the Notes will at times rank at least pari passu, without preference or priority, with all other unsecured unsubordinated Indebtedness of the Company. 

 

	 	9.8.	Subsidiary Guaranty; Release of Guaranties. 

 (a) Subsidiary
Guarantors. The Company will cause each Subsidiary that, on or after the date of the Closing, is or becomes a borrower or guarantor of Indebtedness in respect of the Bank Credit Agreement, on the date of Closing or within 10 Business Days of its
thereafter becoming a co-obligor, borrower or a guarantor of Indebtedness in respect of the Bank Credit Agreement to execute and deliver or become a party to a guaranty agreement in form and substance reasonably satisfactory to the Required Holders
(the “Subsidiary Guaranty”), and shall deliver to each holder of Notes: 
 (i) an executed counterpart of
the Subsidiary Guaranty, or, if a Subsidiary Guaranty has been previously executed and delivered, an executed counterpart of a joinder thereto; 

(ii) copies of such directors’ or other authorizing resolutions, charter, bylaws and other constitutive documents of such
Subsidiary as the Required Holders may reasonably request; and 
 (iii) an opinion of independent counsel reasonably
satisfactory to the Required Holders and an opinion of in-house counsel to the Company, in each case consistent with the opinions provided to the Purchasers at the time of Closing covering the authorization, execution, delivery, compliance with law,
no conflict with other documents, no consents and enforceability against such Subsidiary. 

  
 -24- 







 (b) Release of Subsidiary Guarantor. Each Subsidiary Guarantor shall be
immediately and without any further act by any Person released and discharged from its obligations under the Subsidiary Guaranty and otherwise as a Subsidiary Guarantor upon (i) the Disposition of such Subsidiary Guarantor in compliance with
Section 10.6 or the dissolution of such Subsidiary Guarantor and the assumption of its liabilities under its Subsidiary Guaranty by the Company or another Subsidiary Guarantor or (ii) such Subsidiary Guarantor being released and discharged
as a co-obligor, borrower or guarantor under and in respect of the Bank Credit Agreement; provided that in the case of clause (ii) if any fee or other consideration is paid or given to any holder of Indebtedness under the Bank Credit Agreement
in connection with such release, other than the repayment of all or a portion of such Indebtedness under the Bank Credit Agreement, each holder of a Note receives equivalent consideration on a pro rata basis; provided, however, that in the event the
Bank Credit Agreement is amended or replaced or refinanced, and upfront fees or similar fees are paid to the lenders and/or agents or arrangers thereunder in consideration of their commitments to extend credit and/or in consideration of their
agreement to provide services, such fees shall not be subject to the provisions of this subparagraph (b); and provided, further in the case of both clause (i) and (ii): (x) no Default or Event of Default exists or will exist immediately
following such release and discharge; and (y) at the time of such release and discharge, the Company delivers to each holder of Notes a certificate of a Responsible Officer certifying (A) that a Disposition of such Subsidiary Guarantor has
occurred in compliance with Section 10.6 or that such Subsidiary Guarantor has been or is being released and discharged as a co-obligor, borrower or guarantor under and in respect of the Bank Credit Agreement and (B) as to the matters set
forth in clauses (x) and (y). 
 (c) Confirmation of Release. Upon written request of the Company following
release of a Guarantor pursuant to Section 9.8(b), each Holder of a Note agrees to provide written confirmation of such release. 
  

	10.	NEGATIVE COVENANTS. 

 The Company covenants that so long as any of the Notes are
outstanding: 
  

	 	10.1.	Transactions with Affiliates. 

 The Company will not and will not permit any
Subsidiary to enter into directly or indirectly any Material transaction or Material group of related transactions (including without limitation the purchase, lease, sale or exchange of properties of any kind or the rendering of any service) with
any Affiliate (other than the Company or another Subsidiary), except upon fair and reasonable terms no less favorable to the Company or such Subsidiary than would be obtainable in a comparable arm’s-length transaction with a Person not an
Affiliate. 

  
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	 	10.2.	Merger, Consolidation, Etc. 

 The Company will not consolidate with or merge with
any other Person or convey, transfer, sell or lease all or substantially all of its assets in a single transaction or series of transactions to any Person except that the Company may consolidate or merge with any other Person or convey, transfer,
sell or lease all or substantially all of its assets in a single transaction or series of transactions to any Person, provided that: 

(a) the successor formed by such consolidation or the survivor of such merger or the Person that acquires by conveyance,
transfer, sale or lease all or substantially all of the assets of the Company as an entirety, as the case may be, is a solvent corporation, limited liability company or limited partnership organized and existing under the laws of the United States
or any state thereof (including the District of Columbia), and, if the Company is not such successor or survivor, such entity (i) shall have executed and delivered, in form and substance reasonably satisfactory to the Required Holders, to each
holder of any Notes its assumption of the due and punctual performance and observance of each covenant and condition of this Agreement and the Notes and (ii) shall have caused to be delivered to each holder of any Notes an opinion of nationally
recognized independent counsel, or other independent counsel reasonably satisfactory to the Required Holders, to the effect that all agreements or instruments effecting such assumption are enforceable in accordance with their terms and comply with
the terms of this Section 10.2(a); and 
 (b) after giving effect to such transaction, no Default or Event of Default
shall exist. 
 No such conveyance, transfer, sale or lease of all or substantially all of the assets of the Company shall have the effect
of releasing the Company or any successor that shall theretofore have become such in the manner prescribed in this Section 10.2 from its liability under this Agreement or the Notes. 

 

	 	10.3.	Line of Business. 

 The Company will not and will not permit any Subsidiary to
engage in any business if, as a result, the general nature of the business in which the Company and its Subsidiaries, taken as a whole, would then be engaged would be substantially changed from the general nature of the business in which the Company
and its Subsidiaries, taken as a whole, are engaged on the date of this Agreement as described in the Memorandum. 
  

	 	10.4.	Terrorism Sanctions Regulations. 

 The Company will not and will not permit any
Controlled Entity to (a) become a Blocked Person, (b) have any investments in, or engage in any dealings or transactions with, any Blocked Person if such investments, dealings or transactions would cause any holder of a Note to be in
violation of any laws or regulations that are applicable to such holder or (c) engage in any activities that could subject such Person or any holder of a Note to sanctions under CISADA or under any applicable law of any state of the United
States that imposes sanctions on Persons that do business with Iran or any other country that is subject to an OFAC Sanctions Program. 

  
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	 	10.5.	Liens. 

 The Company will not, and will not permit any Subsidiary to, create,
incur, assume or suffer to exist, directly or indirectly, any Lien on its properties or assets, including capital stock, whether now owned or hereafter acquired, except: 

(a) Liens on property or assets of the Company or any Subsidiary if, at the time such Liens are created, the Notes are equally
and ratably secured by a Lien on the same property and assets pursuant to an agreement or agreements (including an inter-creditor agreement) reasonably acceptable to the Required Holders; 

(b) Permitted Encumbrances; 

(c) Liens existing on property or assets of the Company or any Subsidiary as of the date of this Agreement that are described
in Schedule 10.5; 
 (d) any Lien existing on any property or asset prior to the acquisition thereof by the Company or any
Subsidiary or existing on any property or asset of any Person that becomes a Subsidiary after the date of this Agreement prior to the time such Person becomes a Subsidiary; provided that (i) such Lien is not created in contemplation of or in
connection with such acquisition or such Person becoming a Subsidiary, as the case may be, (ii) such Lien does not apply to any other property or assets of the Company or any Subsidiary (other than any improvements, accessions and proceeds) and
(iii) such Lien secures only those obligations that it secures on the date of such acquisition or the date such Person becomes a Subsidiary, as the case may be, and extensions, renewals and replacements thereof that do not increase the
outstanding principal amount thereof; 
 (e) Liens on fixed or capital assets acquired, constructed or improved by the
Company or any Subsidiary; provided that (i) such Liens and the Indebtedness secured thereby are incurred prior to or within 270 days after such acquisition or the completion of such construction or improvement, (ii) the Indebtedness
secured thereby does not exceed the cost of acquiring, constructing or improving such fixed or capital assets, and (iii) such Liens do not apply to any other property or assets of the Company or any Subsidiary (other than any improvements,
accessions and proceeds); 
 (f) Liens securing surety or other bonds required in the normal course of business; 

(g) Liens on cash deposits securing obligations under Swap Agreements; 

(h) any Lien renewing, extending or replacing any Lien permitted by paragraphs (c), (d) or (e) of this
Section 10.5, provided that (x) the principal amount Indebtedness so secured and then outstanding is not increased, (y) the Lien is not extended to other property of the Company or such Subsidiary and (z) the Indebtedness secured
thereby is permitted hereunder; 
 (i) Liens securing Intercompany Indebtedness; 

  
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 (j) Liens securing judgments for the payment of money that individually or in the
aggregate do not constitute an Event of Default under Section 11(i); 
 (k) Liens on the Petroleum Properties securing
performance obligations under Advance Payment Contracts, provided that the aggregate outstanding amount of such obligations does not at any time exceed $10,000,000; and 

(l) Liens securing Indebtedness not otherwise permitted by paragraphs (a) through (k) of this Section 10.5,
provided that the outstanding principal amount of Priority Debt does not at any time exceed 10% of Consolidated Total Assets as of the end of the most recently completed fiscal quarter. 

 

	 	10.6.	Sale of Assets. 

 Except as permitted by Section 10.2, the Company will not,
and will not permit any Subsidiary to, sell, lease, transfer or otherwise dispose of, including by way of merger (collectively a “Disposition”), any assets, in one or a series of transactions, to any Person, other than: 

(a) Dispositions of surplus equipment for fair and adequate consideration; 

(b) Dispositions of worthless or obsolete equipment; 

(c) Dispositions of equipment that is replaced by equipment of substantially equal suitability and value; 

(d) Dispositions of inventory (including Hydrocarbons and seismic data) that is sold in the ordinary course of business; 

(e) Dispositions not otherwise permitted by paragraphs (a), (b), (c) or (d) of this Section 10.6 provided that:

 (i) in the good faith opinion of the Company, the Disposition is in exchange for consideration having a fair market value
at least equal to that of the property subject to such Disposition and is in the best interest of the Company or such Subsidiary; 

(ii) after giving effect to such transaction, no Default or Event of Default shall exist; and 

(iii) immediately after giving effect to the Disposition, the aggregate net book value of all assets that were the subject of
any Disposition pursuant to this Section 10.6(e) occurring in the then current fiscal year would not exceed 25% of Consolidated Total Assets as of the last day of the most recently ended fiscal year. 

Notwithstanding the foregoing, the Company may, or may permit a Subsidiary to, make a Disposition and the assets (or portion thereof, as the
case may be) subject to such Disposition 

  
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shall not be subject to or included in the foregoing limitation and computation contained in paragraph (e)(iii) of the preceding sentence if, within 365 days of such Disposition, an amount equal
to the net proceeds from such Disposition (or portion thereof, as the case may be) is: 
 (A) reinvested in productive assets
to be used in the existing business of the Company or a Subsidiary (including exploration and development capital expenditures); or 

(B) the net proceeds from such Disposition (or portion thereof, as the case may be) are applied to a Debt Prepayment
Application. Solely for the purposes of the foregoing clause (B), whether or not such offers are accepted by the holders, the entire principal amount of the Notes subject to a Debt Prepayment Application shall be deemed to have been prepaid. 

 

	 	10.7.	Priority Debt. 

 The Company will not at any time permit the outstanding
principal amount of Priority Debt to exceed 10% of Consolidated Total Assets as of the end of the most recently completed fiscal quarter, provided, however, that no Lien created pursuant to Section 10.5(l) shall secure Indebtedness owing under
the Bank Credit Agreement unless the Notes are equally and ratably secured by all property subject to such Lien and no Subsidiary shall guaranty or otherwise become obligated in respect of such Indebtedness unless such Subsidiary guaranties, or
becomes similarly obligated in respect of, the Notes pursuant to Section 9.8, in each case pursuant to documentation reasonably satisfactory to the Required Holders. 
  

	 	10.8.	Asset Coverage Ratio. 

 (a) The ratio of (i) Present Value of
Proved Reserves plus Adjusted Cash to (ii) Indebtedness and Other Liabilities shall at no time be less than 1.75:1 (the “Asset Coverage Ratio”); in addition, for so long as any Bank Credit Agreement is in effect and the
Borrowing Base therein is being calculated, at no time shall Indebtedness and Other Liabilities exceed 115% of the Borrowing Base then in effect; provided however, that if at any time the Borrowing Base shall cease to be calculated under any Bank
Credit Agreement, then (x) the ratio of (i) Indebtedness and Other Liabilities as of the end of any fiscal quarter of the Company (commencing with the fiscal quarter ended immediately preceding the date Borrowing Base is no longer being
calculated) to (ii) Consolidated EBITDAX for the period of four fiscal quarters ending on such date shall not be greater than 3.00:1 and (y) the Asset Coverage Ratio shall no longer be calculated hereunder. 

(b) The Present Value of Proved Reserves will be determined and adjusted periodically as follows: 

(i) The calculation of Present Value of Proved Reserves will be determined from the most recent Reserve Report. 

(ii) Upon any sale by the Company or any Subsidiary of any Petroleum Property including but not limited to a sale of a lesser
interest such as a 

  
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royalty or a net profit interest to the extent the sale of such lesser interest is not considered to create a Lien (other than the sale of hydrocarbons after severance occurring in the ordinary
course of the Company’s or such Subsidiary’s business), the calculation of Present Value of Proved Reserves shall be reduced, effective on the date of consummation of such sale, by an amount equal to the Present Value of Proved Reserves
attributable to Proved Reserves included in such sale. 
 (iii) Immediately upon acquisition or development by the Company or
any Subsidiary of any Petroleum Property owned directly by the Company or any Subsidiary and not reflected in the most recent Reserve Report, the calculation of Present Value of Proved Reserves shall be increased in an amount equal to the Present
Value of Proved Reserves attributable to such Petroleum Property. 
  

	 	10.9.	Annual Coverage Ratio. 

 The Company will not permit as of the last day of any
fiscal quarter the Annual Coverage Ratio to be less than 2.8:1. For this purpose: 
 (a) “Annual Coverage
Ratio” means at any date the ratio of Consolidated Cash Flow to Consolidated Interest Expense for the period of four consecutive fiscal quarters ending on such date. 

(b) “Consolidated Cash Flow” means, for any period, the net cash from operating activities of the Company and
its Consolidated Subsidiaries for such period, as the same is, or would in accordance with GAAP be set forth in a statement of cash flows for such period, plus to the extent deducted in determining such net cash from operating activities, the sum of
(x) Consolidated Interest Expense for such period and (y) income tax expense. 
 (c) “Consolidated Interest
Expense” means, for any period, the interest expense of the Company and its Consolidated Subsidiaries determined for such period in accordance with GAAP. 

(d) “Consolidated Subsidiaries” means at any date any Subsidiary or other entity the accounts of which would
in accordance with GAAP be consolidated with those of the Company in its consolidated financial statements if such statements were prepared as of such date. 
  

	11.	EVENTS OF DEFAULT. 

 An “Event of Default” shall exist if any of the following
conditions or events shall occur and be continuing: 
 (a) the Company defaults in the payment of any principal or Make-Whole
Amount, if any, on any Note when the same becomes due and payable, whether at maturity or at a date fixed for prepayment or by declaration or otherwise; or 

  
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 (b) the Company defaults in the payment of any interest on any Note for more than
five Business Days after the same becomes due and payable; or 
 (c) the Company defaults in the performance of or compliance
with any term contained in Section 7.1(d) or Sections 10.1 through 10.9; or 
 (d) the Company defaults in the
performance of or compliance with any term contained herein (other than those referred to in Sections 11(a), (b) and (c)) and such default is not remedied within 30 days after the earlier of (i) a Responsible Officer obtaining actual
knowledge of such default and (ii) the Company receiving written notice of such default from any holder of a Note (any such written notice to be identified as a “notice of default” and to refer specifically to this
Section 11(d)); or 
 (e) any representation or warranty made in writing by or on behalf of the Company or by any
officer of the Company in this Agreement or in any writing furnished in connection with the transactions contemplated hereby proves to have been false or incorrect in any material respect on the date as of which made and if capable of being cured is
not cured within 30 days; or 
 (f) (i) the Company or any Material Subsidiary is in default (as principal or as guarantor or
other surety) in the payment of any principal of or premium or make-whole amount or interest on any Indebtedness that is outstanding in an aggregate principal amount of at least $30,000,000 beyond any period of grace provided with respect thereto,
or (ii) the Company or any Material Subsidiary is in default in the performance of or compliance with any term of any evidence of any Indebtedness in an aggregate outstanding principal amount of at least $30,000,000 or of any mortgage,
indenture or other agreement relating thereto or any other condition exists, and as a consequence of such default or condition such Indebtedness has become, or has been declared (or one or more Persons are entitled to declare such Indebtedness to
be), due and payable before its stated maturity or before its regularly scheduled dates of payment, or (iii) as a consequence of the occurrence or continuation of any event or condition (other than the passage of time or the right of the holder
of Indebtedness to convert such Indebtedness into equity interests), (x) the Company or any Material Subsidiary has become obligated to purchase or repay Indebtedness before its regular maturity or before its regularly scheduled dates of
payment in an aggregate outstanding principal amount of at least $30,000,000, or (y) one or more Persons have the right to require the Company or any Subsidiary so to purchase or repay such Indebtedness; provided, that clause (iii) shall
not apply to Indebtedness that becomes due (without the occurrence of any default or event of default thereunder) as a result of a disposition of assets pursuant to a due on sale or equivalent provision, issuance of equity or incurrence of other
debt, provided that such Indebtedness is purchased or paid when due or within the grace period provided; or 
 (g) the
Company or any Material Subsidiary (i) is generally not paying, or admits in writing its inability to pay, its debts as they become due, (ii) files, or consents by answer or otherwise to the filing against it of, a petition for relief or
reorganization or arrangement or any other petition in bankruptcy, for liquidation or to take advantage of any bankruptcy, insolvency, reorganization, moratorium or other similar law of any 

  
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jurisdiction, (iii) makes an assignment for the benefit of its creditors, (iv) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers with
respect to it or with respect to any substantial part of its property, (v) is adjudicated as insolvent or to be liquidated, or (vi) takes corporate action for the purpose of any of the foregoing; or 

(h) a court or Governmental Authority of competent jurisdiction enters an order appointing, without consent by the Company or
any of its Material Subsidiaries, a custodian, receiver, trustee or other officer with similar powers with respect to it or with respect to any substantial part of its property, or constituting an order for relief or approving a petition for relief
or reorganization or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy or insolvency law of any jurisdiction, or ordering the dissolution, winding-up or liquidation of the Company or any of its Material
Subsidiaries, or any such petition shall be filed against the Company or any of its Material Subsidiaries and such petition shall not be dismissed within 60 days; or 

(i) a final judgment or judgments for the payment of money aggregating in excess of $30,000,000 (except to the extent to which
the insurer has provided coverage not subject to reservation) are rendered against one or more of the Company and its Material Subsidiaries and which judgments are not, within 60 days after entry thereof, bonded, discharged or stayed pending appeal,
or are not discharged within 60 days after the expiration of such stay; 
 (j) any Subsidiary Guaranty ceases to be in full
force and effect (unless released in accordance with Section 9.8) or is declared to be null and void in whole or in material part by a court or other governmental or regulatory authority having jurisdiction or the validity or enforceability
thereof shall be contested by the Company or any Subsidiary Guarantor or any of them renounces any of the same or denies that it has any or further liability thereunder; or 

(k) if an ERISA Event has resulted in liability of the Company or any Subsidiary under Title IV of ERISA to a Plan, a
Multiemployer Plan or the PBGC in an aggregate amount in excess of $30,000,000 and such amount has not been paid when due. 
  

	12.	REMEDIES ON DEFAULT, ETC. 

  

	 	12.1.	Acceleration. 

 (a) If an Event of Default with respect to the
Company described in Section 11(g) or (h) (other than an Event of Default described in clause (i) of Section 11(g) or described in clause (vi) of Section 11(g) by virtue of the fact that such clause encompasses clause
(i) of Section 11(g)) has occurred, all the Notes then outstanding shall automatically become immediately due and payable. 

(b) If any other Event of Default has occurred and is continuing, the Required Holders may at any time at its or their option,
by notice or notices to the Company, declare all the Notes then outstanding to be immediately due and payable. 
 (c) If any
Event of Default described in Section 11(a) or (b) has occurred and is continuing, any holder or holders of Notes at the time outstanding affected by such Event of Default may at any time, at its or their option, by notice or notices to
the Company, declare all the Notes held by it or them to be immediately due and payable. 

  
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 Upon any Notes becoming due and payable under this Section 12.1, whether automatically or by
declaration, such Notes will forthwith mature and the entire unpaid principal amount of such Notes, plus (x) all accrued and unpaid interest thereon (including, but not limited to, interest accrued thereon at the Default Rate) and (y) the
Make-Whole Amount determined in respect of such principal amount (to the full extent permitted by applicable law), shall all be immediately due and payable, in each and every case without presentment, demand, protest or further notice, all of which
are hereby waived. The Company acknowledges, and the parties hereto agree, that each holder of a Note has the right to maintain its investment in the Notes free from repayment by the Company (except as herein specifically provided for) and that the
provision for payment of a Make-Whole Amount by the Company in the event that the Notes are prepaid or are accelerated as a result of an Event of Default, is intended to provide compensation for the deprivation of such right under such
circumstances. 
  

	 	12.2.	Other Remedies. 

 If any Default or Event of Default has occurred and is
continuing, and irrespective of whether any Notes have become or have been declared immediately due and payable under Section 12.1, the holder of any Note at the time outstanding may proceed to protect and enforce the rights of such holder by
an action at law, suit in equity or other appropriate proceeding, whether for the specific performance of any agreement contained herein or in any Note, or for an injunction against a violation of any of the terms hereof or thereof, or in aid of the
exercise of any power granted hereby or thereby or by law or otherwise. 
  

	 	12.3.	Rescission. 

 At any time after any Notes have been declared due and payable
pursuant to Section 12.1(b) or (c), the Required Holders, by written notice to the Company, may rescind and annul any such declaration and its consequences if (a) the Company has paid all overdue interest on the Notes, all principal of and
Make-Whole Amount, if any, on any Notes that are due and payable and are unpaid other than by reason of such declaration, and all interest on such overdue principal and Make-Whole Amount, if any, and (to the extent permitted by applicable law) any
overdue interest in respect of the Notes of any Series, at the Default Rate for such Series, (b) neither the Company nor any other Person shall have paid any amounts which have become due solely by reason of such declaration, (c) all
Events of Default and Defaults, other than non-payment of amounts that have become due solely by reason of such declaration, have been cured or have been waived pursuant to Section 17, and (d) no judgment or decree has been entered for the
payment of any monies due pursuant hereto or to the Notes. No rescission and annulment under this Section 12.3 will extend to or affect any subsequent Event of Default or Default or impair any right consequent thereon. 

  
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	 	12.4.	No Waivers or Election of Remedies, Expenses, Etc. 

 No course of dealing and no
delay on the part of any holder of any Note in exercising any right, power or remedy shall operate as a waiver thereof or otherwise prejudice such holder’s rights, powers or remedies. No right, power or remedy conferred by this Agreement or by
any Note upon any holder thereof shall be exclusive of any other right, power or remedy referred to herein or therein or now or hereafter available at law, in equity, by statute or otherwise. Without limiting the obligations of the Company under
Section 15, the Company will pay to the holder of each Note on demand such further amount as shall be sufficient to cover all costs and expenses of such holder incurred in any enforcement or collection under this Section 12, including,
without limitation, reasonable attorneys’ fees, expenses and disbursements. 
  

	13.	REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES. 

  

	 	13.1.	Registration of Notes. 

 The Company shall keep at its principal executive office
a register for the registration and registration of transfers of Notes. The name and address of each holder of one or more Notes, each transfer thereof and the name and address of each transferee of one or more Notes shall be registered in such
register. Prior to due presentment for registration of transfer, the Person in whose name any Note shall be registered shall be deemed and treated as the owner and holder thereof for all purposes hereof, and the Company shall not be affected by any
notice or knowledge to the contrary. The Company shall give to any holder of a Note that is an Institutional Investor promptly upon request therefor, a complete and correct copy of the names and addresses of all registered holders of Notes. 

 

	 	13.2.	Transfer and Exchange of Notes. 

 Upon surrender of any Note to the Company at
the address and to the attention of the designated officer (all as specified in Section 18(iii)), for registration of transfer or exchange (and in the case of a surrender for registration of transfer accompanied by a written instrument of
transfer duly executed by the registered holder of such Note or such holder’s attorney duly authorized in writing and accompanied by the relevant name, address and other information for notices of each transferee of such Note or part thereof),
within ten Business Days thereafter, the Company shall execute and deliver, at the Company’s expense (except as provided below), one or more new Notes of such Series (as requested by the holder thereof) in exchange therefor, in an aggregate
principal amount equal to the unpaid principal amount of the surrendered Note. Each such new Note shall be payable to such Person as such holder may request and shall be substantially in the form of such Note for such Series as set forth in Exhibit
1(a), 1(b), 1(c) or 1(d), as applicable. Each such new Note shall be dated and bear interest from the date to which interest shall have been paid on the surrendered Note or dated the date of the surrendered Note if no interest shall have been paid
thereon. The Company may require payment of a sum sufficient to cover any stamp tax or governmental charge imposed in respect of any such transfer of Notes. Notes shall not be transferred in denominations of less than $100,000, provided that if
necessary to enable the registration of transfer by a holder of its entire holding of Notes, one Note may be in a denomination of less than $100,000. Any transferee, by its acceptance of a Note registered in its name (or the name of its nominee),
shall be deemed to have made the representations set forth in Section 6.2. 

  
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	 	13.3.	Replacement of Notes. 

 Upon receipt by the Company at the address and to the
attention of the designated officer (all as specified in Section 18(iii)) of evidence reasonably satisfactory to it of the ownership of and the loss, theft, destruction or mutilation of any Note (which evidence shall be, in the case of an
Institutional Investor, notice from such Institutional Investor of such ownership and such loss, theft, destruction or mutilation), and 

(a) in the case of loss, theft or destruction, of indemnity reasonably satisfactory to it (provided that if the holder of such
Note is, or is a nominee for, an original Purchaser or another holder of a Note with a minimum net worth of at least $50,000,000 or a Qualified Institutional Buyer, such Person’s own unsecured agreement of indemnity shall be deemed to be
satisfactory), or 
 (b) in the case of mutilation, upon surrender and cancellation thereof, 

within ten Business Days thereafter (or such longer period of time as the applicable holder may agree to), the Company at its own expense shall execute and
deliver, in lieu thereof, a new Note of the same Series, dated and bearing interest from the date to which interest shall have been paid on such lost, stolen, destroyed or mutilated Note or dated the date of such lost, stolen, destroyed or mutilated
Note if no interest shall have been paid thereon. 
  

	14.	PAYMENTS ON NOTES. 

  

	 	14.1.	Place of Payment. 

 Subject to Section 14.2, payments of principal,
Make-Whole Amount, if any, and interest becoming due and payable on the Notes shall be made in New York, New York at the principal office of JPMorgan Chase Bank, N.A. in such jurisdiction. The Company may at any time, by notice to each holder of a
Note, change the place of payment of the Notes so long as such place of payment shall be either the principal office of the Company in such jurisdiction or the principal office of a bank or trust company in such jurisdiction. 

 

	 	14.2.	Home Office Payment. 

 So long as any Purchaser or its nominee shall be the
holder of any Note, and notwithstanding anything contained in Section 14.1 or in such Note to the contrary, the Company will pay all sums becoming due on such Note for principal, Make-Whole Amount, if any, and interest by the method and at the
address specified for such purpose below such Purchaser’s name in Schedule A, or by such other method or at such other address as such Purchaser shall have from time to time specified to the Company in writing for such purpose, without the
presentation or surrender of such Note or the making of any notation thereon, except that upon written request of the Company made concurrently with or reasonably promptly after payment or prepayment in full of any Note, such Purchaser shall
surrender such Note for cancellation, reasonably promptly after any such request, to the Company at its principal executive office or at 

  
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the place of payment most recently designated by the Company pursuant to Section 14.1. Prior to any sale or other disposition of any Note held by a Purchaser or its nominee, such Purchaser
will, at its election, either endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon or surrender such Note to the Company in exchange for a new Note or Notes pursuant to Section 13.2. The
Company will afford the benefits of this Section 14.2 to any Institutional Investor that is the direct or indirect transferee of any Note purchased by a Purchaser under this Agreement and that has made the same agreement relating to such Note
as the Purchasers have made in this Section 14.2. 
  

	15.	EXPENSES, ETC. 

  

	 	15.1.	Transaction Expenses. 

 Whether or not the transactions contemplated hereby are
consummated, the Company will pay all costs and expenses (including reasonable attorneys’ fees of a special counsel and, if reasonably required by the Required Holders, local or other counsel) incurred by the Purchasers and each other holder of
a Note in connection with such transactions and in connection with any amendments, waivers or consents under or in respect of this Agreement, the Notes or any Subsidiary Guaranty (whether or not such amendment, waiver or consent becomes effective),
including, without limitation: (a) the costs and expenses incurred in enforcing or defending (or determining whether or how to enforce or defend) any rights under this Agreement, the Notes or any Subsidiary Guaranty or in responding to any
subpoena or other legal process or informal investigative demand issued in connection with this Agreement, the Notes or any Subsidiary Guaranty, or by reason of being a holder of any Note, (b) the costs and expenses, including financial
advisors’ fees, incurred in connection with the insolvency or bankruptcy of the Company or any Subsidiary or in connection with any work-out or restructuring of the transactions contemplated hereby, by the Notes and any Subsidiary Guaranty and
(c) the costs and expenses incurred in connection with the initial filing of this Agreement and all related documents and financial information with the SVO provided, that such costs and expenses under this clause (c) shall not exceed
$3,000. The Company will pay, and will save each Purchaser and each other holder of a Note harmless from, all claims in respect of any fees, costs or expenses, if any, of brokers and finders (other than those, if any, retained by a Purchaser or
other holder in connection with its purchase of the Notes). 
  

	 	15.2.	Survival. 

 The obligations of the Company under this Section 15 will
survive the payment or transfer of any Note, the enforcement, amendment or waiver of any provision of this Agreement or the Notes, and the termination of this Agreement. 
  

	16.	SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT. 

 All representations and
warranties contained herein shall survive the execution and delivery of this Agreement and the Notes, the purchase or transfer by any Purchaser of any Note or portion thereof or interest therein and the payment of any Note, and may be relied upon by
any subsequent holder of a Note, regardless of any investigation made at any time by or on 

  
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behalf of such Purchaser or any other holder of a Note. All statements contained in any certificate or other instrument delivered by or on behalf of the Company pursuant to this Agreement shall
be deemed representations and warranties of the Company under this Agreement. Subject to the preceding sentence, this Agreement and the Notes embody the entire agreement and understanding between each Purchaser and the Company and supersede all
prior agreements and understandings relating to the subject matter hereof. 
  

	17.	AMENDMENT AND WAIVER. 

  

	 	17.1.	Requirements. 

 This Agreement, the Notes and any Subsidiary Guaranty may be
amended, and the observance of any term hereof or thereof may be waived (either retroactively or prospectively), with (and only with) the written consent of the Company and the Required Holders, except that (a) no amendment or waiver of any of
the provisions of Section 1, 2, 3, 4, 5, 6 or 21 hereof, or any defined term (as it is used therein), will be effective as to any Purchaser unless consented to by such Purchaser in writing, and (b) no such amendment or waiver may, without
the written consent of the holder of each Note at the time outstanding affected thereby, (i) subject to the provisions of Section 12 relating to acceleration or rescission, change the amount or time of any prepayment or payment of
principal of, or reduce the rate or change the time of payment or method of computation of interest or of the Make-Whole Amount on, the Notes, (ii) change the percentage of the principal amount of the Notes the holders of which are required to
consent to any such amendment or waiver, or (iii) amend any of Sections 8, 11(a), 11(b), 12, 17 or 20. 
  

	 	17.2.	Solicitation of Holders of Notes. 

 (a) Solicitation. The
Company will provide each holder of the Notes (irrespective of the amount of Notes then owned by it) with sufficient information, sufficiently far in advance of the date a decision is required, to enable such holder to make an informed and
considered decision with respect to any proposed amendment, waiver or consent in respect of any of the provisions hereof or of the Notes. The Company will deliver executed or true and correct copies of each amendment, waiver or consent effected
pursuant to the provisions of this Section 17 to each holder of outstanding Notes promptly following the date on which it is executed and delivered by, or receives the consent or approval of, the requisite holders of Notes. 

(b) Payment. The Company will not directly or indirectly pay or cause to be paid any remuneration, whether by way of
supplemental or additional interest, fee or otherwise, or grant any security or provide other credit support, to any holder of Notes as consideration for or as an inducement to the entering into by any holder of Notes of any waiver or amendment of
any of the terms and provisions hereof unless such remuneration is concurrently paid, or security is concurrently granted or other credit support concurrently provided, on the same terms, ratably to each holder of Notes then outstanding even if such
holder did not consent to such waiver or amendment. 
 (c) Consent in Contemplation of Transfer. Any consent given
pursuant to this Section 17 or any Subsidiary Guaranty (i) that contains, is contingent upon, or is in 

  
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contemplation of a current or future offer of prepayment or repurchase by the Company, any Subsidiary or any Affiliate of the Company (or any other Person acting in concert with any of them),
unless such offer is made to all such holders on the same terms and conditions, or (ii) by a holder of a Note that has transferred or has agreed to transfer its Note to the Company, any Subsidiary or any Affiliate of the Company in connection
with such consent shall, in each case, be void and of no force or effect except, in the case of any consent given pursuant to clause (ii) above, solely as to the holder that has so transferred or agreed to transfer its Notes, and any amendments
effected or waivers granted or to be effected or granted that would not have been or would not be so effected or granted but for such consent (and the consents of all other holders of Notes that were acquired under the same or similar conditions)
shall be void and of no force or effect except, in the case of any consent given pursuant to clause (ii) above, solely as to the holder that has so transferred or agreed to transfer its Notes. 

 

	 	17.3.	Binding Effect, etc. 

 Any amendment or waiver consented to as provided in this
Section 17 applies equally to all holders of Notes and is binding upon them and upon each future holder of any Note and upon the Company without regard to whether such Note has been marked to indicate such amendment or waiver. No such amendment
or waiver will extend to or affect any obligation, covenant, agreement, Default or Event of Default not expressly amended or waived or impair any right consequent thereon. No course of dealing between the Company and the holder of any Note nor any
delay in exercising any rights hereunder or under any Note shall operate as a waiver of any rights of any holder of such Note. As used herein, the term “this Agreement” and references thereto shall mean this Agreement as it may from time
to time be amended, supplemented or otherwise modified. 
  

	 	17.4.	Notes Held by Company, etc. 

 Solely for the purpose of determining whether the
holders of the requisite percentage of the aggregate principal amount of Notes then outstanding approved or consented to any amendment, waiver or consent to be given under this Agreement or the Notes, or have directed the taking of any action
provided herein or in the Notes to be taken upon the direction of the holders of a specified percentage of the aggregate principal amount of Notes then outstanding, Notes directly or indirectly owned by the Company or any of its Affiliates shall be
deemed not to be outstanding. 
  

	18.	NOTICES. 

 All notices and communications provided for hereunder shall be in writing and
sent (a) by telecopy if the sender on the same day sends a confirming copy of such notice by a recognized overnight delivery service (charges prepaid), or (b) by registered or certified mail with return receipt requested (postage prepaid),
or (c) by a recognized overnight delivery service (with charges prepaid). Any such notice must be sent: 
 (i) if to any
Purchaser or its nominee, to such Purchaser or nominee at the address specified for such communications in Schedule A, or at such other address as such Purchaser or nominee shall have specified to the Company in writing, 

  
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 (ii) if to any other holder of any Note, to such holder at such address as such
other holder shall have specified to the Company in writing, or 
 (iii) if to the Company, to the Company at its address set
forth at the beginning hereof to the attention of Chief Financial Officer, or at such other address as the Company shall have specified to the holder of each Note in writing. 

Notices under this Section 18 will be deemed given only when actually received. 

 

	19.	REPRODUCTION OF DOCUMENTS. 

 This Agreement and all documents relating thereto,
including, without limitation, (a) consents, waivers and modifications that may hereafter be executed, (b) documents received by any Purchaser at the Closing (except the Notes themselves), and (c) financial statements, certificates
and other information previously or hereafter furnished to any Purchaser, may be reproduced by such Purchaser by any photographic, photostatic, electronic, digital, or other similar process and such Purchaser may destroy any original document so
reproduced. The Company agrees and stipulates that, to the extent permitted by applicable law, any such reproduction shall be admissible in evidence as the original itself in any judicial or administrative proceeding (whether or not the original is
in existence and whether or not such reproduction was made by such Purchaser in the regular course of business) and any enlargement, facsimile or further reproduction of such reproduction shall likewise be admissible in evidence. This
Section 19 shall not prohibit the Company or any other holder of Notes from contesting any such reproduction to the same extent that it could contest the original, or from introducing evidence to demonstrate the inaccuracy of any such
reproduction. 
  

	20.	CONFIDENTIAL INFORMATION. 

 For the purposes of this Section 20, “Confidential
Information” means information delivered to any Purchaser by or on behalf of the Company or any Subsidiary in connection with the transactions contemplated by or otherwise pursuant to this Agreement that is proprietary in nature and that was
clearly marked or labeled or otherwise adequately identified when received by such Purchaser as being confidential information of the Company or such Subsidiary, provided that such term does not include information that (a) was publicly known
or otherwise known to such Purchaser prior to the time of such disclosure, (b) subsequently becomes publicly known through no act or omission by such Purchaser or any person acting on such Purchaser’s behalf, (c) otherwise becomes
known to such Purchaser other than through disclosure by the Company or any Subsidiary or (d) constitutes financial statements delivered to such Purchaser under Section 7.1 that are otherwise publicly available. Each Purchaser will
maintain the confidentiality of such Confidential Information in accordance with procedures adopted by such Purchaser in good faith to protect confidential information of third parties delivered to such Purchaser, provided that such Purchaser may
deliver or disclose Confidential Information to (i) its directors, officers, employees, agents, attorneys, trustees and affiliates (to the extent such disclosure reasonably relates to the administration of the investment represented by its
Notes), 

  
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(ii) its financial advisors and other professional advisors who agree to hold confidential the Confidential Information substantially in accordance with the terms of this Section 20,
(iii) any other holder of any Note, (iv) any Institutional Investor to which it sells or offers to sell such Note or any part thereof or any participation therein (if such Person has agreed in writing prior to its receipt of such
Confidential Information to be bound by the provisions of this Section 20), (v) any Person from which it offers to purchase any security of the Company (if such Person has agreed in writing prior to its receipt of such Confidential
Information to be bound by the provisions of this Section 20), (vi) any federal, state or provincial regulatory authority having jurisdiction over such Purchaser, (vii) the NAIC or the SVO or, in each case, any similar organization,
or any nationally recognized rating agency that requires access to information about such Purchaser’s investment portfolio, or (viii) any other Person to which such delivery or disclosure may be necessary or appropriate (w) to effect
compliance with any law, rule, regulation or order applicable to such Purchaser, (x) in response to any subpoena or other legal process, (y) in connection with any litigation to which such Purchaser is a party or (z) if an Event of
Default has occurred and is continuing, to the extent such Purchaser may reasonably determine such delivery and disclosure to be necessary or appropriate in the enforcement or for the protection of the rights and remedies under such Purchaser’s
Notes and this Agreement. Each holder of a Note, by its acceptance of a Note, will be deemed to have agreed to be bound by and to be entitled to the benefits of this Section 20 as though it were a party to this Agreement. On reasonable request
by the Company in connection with the delivery to any holder of a Note of information required to be delivered to such holder under this Agreement or requested by such holder (other than a holder that is a party to this Agreement or its nominee),
such holder will enter into an agreement with the Company embodying the provisions of this Section 20. 
  

	21.	SUBSTITUTION OF PURCHASER. 

 Each Purchaser shall have the right to substitute any one of
its Affiliates as the purchaser of the Notes that it has agreed to purchase hereunder, by written notice to the Company, which notice shall be signed by both such Purchaser and such Affiliate, shall contain such Affiliate’s agreement to be
bound by this Agreement and shall contain a confirmation by such Affiliate of the accuracy with respect to it of the representations set forth in Section 6. Upon receipt of such notice, any reference to such Purchaser in this Agreement (other
than in this Section 21), shall be deemed to refer to such Affiliate in lieu of such original Purchaser. In the event that such Affiliate is so substituted as a Purchaser hereunder and such Affiliate thereafter transfers to such original
Purchaser all of the Notes then held by such Affiliate, upon receipt by the Company of notice of such transfer, any reference to such Affiliate as a “Purchaser” in this Agreement (other than in this Section 21), shall no longer be
deemed to refer to such Affiliate, but shall refer to such original Purchaser, and such original Purchaser shall again have all the rights of an original holder of the Notes under this Agreement. 

 

	22.	MISCELLANEOUS. 

  

	 	22.1.	Successors and Assigns. 

 All covenants and other agreements contained in this
Agreement by or on behalf of any of the parties hereto bind and inure to the benefit of their respective successors and assigns (including, without limitation, any subsequent holder of a Note) whether so expressed or not. 

  
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	 	22.2.	Payments Due on Non-Business Days. 

 Anything in this Agreement or the Notes to
the contrary notwithstanding (but without limiting the requirement in Section 8.6 that the notice of any optional prepayment specify a Business Day as the date fixed for such prepayment), any payment of principal of or Make-Whole Amount or
interest on any Note that is due on a date other than a Business Day shall be made on the next succeeding Business Day without including the additional days elapsed in the computation of the interest payable on such next succeeding Business Day;
provided that if the maturity date of any Note is a date other than a Business Day, the payment otherwise due on such maturity date shall be made on the next succeeding Business Day and shall include the additional days elapsed in the computation of
interest payable on such next succeeding Business Day. 
  

	 	22.3.	Accounting Terms. 

 All accounting terms used herein which are not expressly
defined in this Agreement have the meanings respectively given to them in accordance with GAAP. Except as otherwise specifically provided herein, (i) all computations made pursuant to this Agreement shall be made in accordance with GAAP, and
(ii) all financial statements shall be prepared in accordance with GAAP. Notwithstanding the foregoing or any other provision of this Agreement, for purposes of determining compliance with the financial covenants contained in this Agreement,
any election by the Company to measure any portion of a non-derivative financial liability at fair value (as permitted by Financial Accounting Standards Board Accounting Standards Codification Section 825-10 or any similar accounting standard),
other than to reflect a hedge of such non-derivative financial liability (including both interest rate and foreign currency hedges), shall be disregarded and such determination shall be made as if such election had not been made. 

If at any time any change in GAAP would affect the computation of any financial ratio, term or requirement set forth herein, and either the
Company or the Required Holders shall so request, the Holders and the Company shall negotiate in good faith to amend such ratio, term or requirement to preserve the original intent thereof in light of such change in GAAP (subject to the approval of
the Required Holders); provided that, until so amended, (i) such ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein and (ii) the Company shall provide to the Holders financial statements
and other documents required under this Agreement or as reasonably requested by the Holders hereunder setting forth a reconciliation between calculations of such ratio, term or requirement made before and after giving effect to such change in GAAP.

  

	 	22.4.	Severability. 

 Any provision of this Agreement that is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall (to the full extent permitted by law) not invalidate or render unenforceable such provision in any other jurisdiction. 

  
 -41- 








	 	22.5.	Construction, etc. 

 Each covenant contained herein shall be construed (absent
express provision to the contrary) as being independent of each other covenant contained herein, so that compliance with any one covenant shall not (absent such an express contrary provision) be deemed to excuse compliance with any other covenant.
Where any provision herein refers to action to be taken by any Person, or which such Person is prohibited from taking, such provision shall be applicable whether such action is taken directly or indirectly by such Person. 

For the avoidance of doubt, all Schedules and Exhibits attached to this Agreement shall be deemed to be a part hereof. 

 

	 	22.6.	Counterparts. 

 This Agreement may be executed in any number of counterparts,
each of which shall be an original but all of which together shall constitute one instrument. Each counterpart may consist of a number of copies hereof, each signed by less than all, but together signed by all, of the parties hereto. Delivery of
this Agreement by facsimile transmission or other electronic delivery shall be effective as delivery of a manually executed counterpart hereof. 
  

	 	22.7.	Governing Law. 

 This Agreement shall be construed and enforced in accordance
with, and the rights of the parties shall be governed by, the law of the State of New York excluding choice-of-law principles of the law of such State that would permit
the application of the laws of a jurisdiction other than such State. 
  

	 	22.8.	Jurisdiction and Process; Waiver of Jury Trial. 

 (a) The Company
irrevocably submits to the non-exclusive jurisdiction of any New York State or federal court sitting in the Borough of Manhattan, The City of New York, over any suit, action or proceeding arising out of or relating to this Agreement, the Notes or
any Subsidiary Guaranty. To the fullest extent permitted by applicable law, the Company irrevocably waives and agrees not to assert, by way of motion, as a defense or otherwise, any claim that it is not subject to the jurisdiction of any such court,
any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding brought in any such court and any claim that any such suit, action or proceeding brought in any such court has been brought in an
inconvenient forum. 
 (b) The Company consents to process being served by or on behalf of any holder of Notes in any suit,
action or proceeding of the nature referred to in Section 22.8(a) by mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, return receipt requested, to it at its address specified
in Section 18 or at such other address of which such holder shall then have been notified pursuant to said Section. The Company agrees that such service upon receipt (i) shall be deemed in every respect effective service of process upon it in
any such suit, action or proceeding and (ii) shall, to the fullest extent permitted by applicable law, be taken and held to be valid personal service upon and personal delivery to it. 

  
 -42- 







 
Notices hereunder shall be conclusively presumed received as evidenced by a delivery receipt furnished by the United States Postal Service or any reputable commercial delivery service. 

(c) Nothing in this Section 22.8 shall affect the right of any holder of a Note to serve process in any manner permitted
by law, or limit any right that the holders of any of the Notes may have to bring proceedings against the Company in the courts of any appropriate jurisdiction or to enforce in any lawful manner a judgment obtained in one jurisdiction in any other
jurisdiction. 
 (d) The parties hereto hereby waive trial by jury in any action brought on or with respect to this
Agreement, the Notes or any other document executed in connection herewith or therewith. 
 [Remainder of page left intentionally blank.
Next page is signature page.] 

  
 -43- 







 If you are in agreement with the foregoing, please sign the form of agreement on a counterpart of
this Agreement and return it to the Company, whereupon this Agreement shall become a binding agreement between you and the Company. 
  

			
	Very truly yours,
	
	CABOT OIL & GAS CORPORATION
		
	By:	 	 /s/ Scott C. Schroeder

	Name:	 	Scott C. Schroeder
	Title:	 	Executive Vice President, Chief Financial Officer and Treasurer


  

	
	 This Agreement is hereby accepted and agreed to as of the date thereof.


 [Signature Page to Note Purchase Agreement] 






 SCHEDULE A 

INFORMATION RELATING TO PURCHASERS 

[Omitted] 

  
 Schedule A-2 







 Schedule B 

DEFINED TERMS 

As used herein, the following terms have the respective meanings set forth below or set forth in the Section hereof following such term: 

“Adjusted Cash” means, as of any date, the lesser of (a) the amount by which cash and short-term investments of the
Company and its Subsidiaries exceed $5,000,000 and (b) the amount, if any, by which (i) current assets of the Company and its Subsidiaries exceed (ii) current liabilities of such Persons (excluding the aggregate outstanding principal
amount of Indebtedness included in such current liabilities), in each case determined on a consolidated basis as of such date. If such current liabilities exceed such current assets, Adjusted Cash shall be zero. 

“Advance Payment Contract” means (a) any production payment (whether volumetric or dollar denominated) granted or sold
by any Person payable from a specified share of proceeds received from production from specified Petroleum Properties, together with all undertakings and obligations in connection therewith or (b) any contract whereby any Person receives or
becomes entitled to receive (either directly or indirectly) any payment (an “Advance Payment”) as consideration for (i) Hydrocarbons produced or to be produced from Petroleum Properties owned by such Person or its Affiliates in
advance of the delivery of such Hydrocarbons (and regardless of whether such Hydrocarbons are actually produced or actual delivery is required) to or for the account of the purchaser thereof or (ii) a right or option to receive such
Hydrocarbons (or a cash payment in lieu of such Hydrocarbons); provided that inclusion of customary and standard “take or pay” provisions in any gas sales or purchase contract or any other similar contract shall not, in and of itself,
cause such gas sales or purchase contract to constitute an Advance Payment Contract for the purposes of this definition. 

“Affiliate” means each Person who controls, is controlled by or is under common control with the Company. For purposes of
this definition, the term “control” means possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ownership of voting securities, by contract or
otherwise. 
 “Anti-Money Laundering Laws” is defined in Section 5.16(c). 

“Bank Credit Agreement” means the Amended and Restated Credit Agreement dated as of September 22, 2010 among the
Company, JPMorgan Chase Bank, N.A., as administrative agent, Bank of America Securities LLC and Bank of Montreal as co-syndication agents, BNP Paribas and Wells Fargo Bank N.A., as co-documentation agents and
the lenders from time to time party thereto, as such agreement has been and as hereafter may be amended, restated, supplemented, modified, refinanced, extended or replaced. 

“Blocked Person” is defined in Section 5.16(a). 

“Borrowing Base” shall have the meaning set forth in the Bank Credit Agreement. 

  
 Schedule B-1 







 “Business Day” means (a) for the purposes of Section 8.8 only, any day
other than a Saturday, a Sunday or a day on which commercial banks in New York, New York are required or authorized to be closed, and (b) for the purposes of any other provision of this Agreement, any day other than a Saturday, a Sunday or a
day on which commercial banks in New York, New York or Houston, Texas are required or authorized to be closed. 
 “Capital
Lease” means, at any time, a lease with respect to which the lessee is required concurrently to recognize the acquisition of an asset and the incurrence of a liability in accordance with GAAP. 

“Capital Lease Obligations” means with respect to a specified Person, the obligations of such Person to pay rent or other
amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as Capital Leases, and the amount of such obligations
shall be the capitalized amount thereof determined in accordance with GAAP. 
 “Change of Control” means any of the
following events or circumstances (a) any Person or related Persons constituting a “group” for purposes of Section 13(d) of the Exchange Act shall have acquired “beneficial ownership” of a majority of the Voting Stock
of the Company, or (b) during any period of 24 consecutive months, individuals who were directors of the Company at the beginning of the period and Qualifying Directors, in the aggregate, shall cease to constitute a majority of the Board of
Directors of the Company. 
 Notwithstanding the foregoing, a “Change of Control” shall not be deemed to have occurred: 

(1) if, immediately following the event that would otherwise constitute a Change of Control, the Company (or the acquiring Person if it has
acquired substantially all of the assets of the Company, or the resulting or surviving Person if it has merged or consolidated with the Company and the Company is not the surviving entity) has a rating of BBB- or higher by Standard &
Poor’s Ratings Services, a Division of McGraw Hill Financial, Inc. (or any successor thereto) or Baa3 or higher by Moody’s Investors Service, Inc. (or any successor thereto) or an equivalent rating by another rating agency of recognized
national standing if it has only a single rating or, if it has two or more ratings, at least two of the ratings are BBB- or higher by Standard & Poor’s Ratings Services, a Division of McGraw Hill Financial, Inc. (or any successor
thereto) or Baa3 or higher by Moody’s Investors Service, Inc. (or any successor thereto) or an equivalent rating by another rating agency of recognized national standing (in each case, with no negative outlook) (as used in this paragraph
“rating” of a Person means a rating of long-term unsecured debt of such Person); 
 (2) if
the event that would otherwise constitute a Change of Control occurs in connection with a transaction in which (i) 100% of the Voting Stock of the Company becomes and remains at all times owned by another entity (a “Permitted Holding
Company”), (ii) a majority of the Voting Stock of the Permitted Holding Company is owned by persons who were the holders of a majority of the Voting Stock of the Company prior to such transaction, and (iii) individuals who were
directors of the Company at the beginning of the period described in clause (b) of this definition and Qualifying Directors, in the aggregate, constitute a majority of the Board of Directors of the Permitted Holding Company (provided
that, after such transaction, the Permitted Holding Company shall be substituted for the Company for purposes of this definition of Change of Control); or 

  
 Schedule B-2 







 (3) upon a conversion of the Company into a limited liability company, limited partnership or
other form of entity or an exchange of all of the outstanding equity interests of the Company for equity interests in another form of entity into which the Company has been converted, so long as following such conversion or exchange the persons who
were the holders of the capital stock of, or other equity interests in, the Company immediately prior to such transactions own in the aggregate the majority of the equity interests of such entity into which the Company has been converted sufficient
to elect a majority of its Board of Directors or persons performing a similar function. 
 “CISADA” means the United States
Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010. 
 “Closing” is defined in Section 3. 

“Code” means the Internal Revenue Code of 1986, as amended from time to time, and the rules and regulations promulgated
thereunder from time to time. 
 “Company” means Cabot Oil & Gas Corporation, a Delaware corporation or any
successor that becomes such in the manner prescribed in Section 10.2. 
 “Confidential Information” is defined in
Section 20. 
 “Consolidated EBITDAX” means, for any period, the sum of (a) Consolidated Net Income of the
Company and its Subsidiaries for such period, plus (b) the following expenses or charges, without duplication and to the extent deducted in calculating such Consolidated Net Income for such period: (i) Consolidated Interest Expense,
(ii) income and franchise taxes, (iii) depreciation, depletion, amortization, exploration and abandonment expenses, and intangible drilling costs, (iv) lease impairment expenses; (v) extraordinary losses (or less extraordinary
gains) attributable to writeups or writedowns of assets, including ceiling test writedown and impairments of long-lived assets and (vi) other noncash charges, minus (c) all noncash income added to Consolidated Net Income; provided that
EBITDAX (and any defined term used herein) for any applicable period shall be calculated on a pro forma basis for any acquisitions or dispositions during such period, as if such acquisition or disposition had occurred on the first day of such period
and, concurrently with such determination, the Company shall furnish to the holders of the Notes audited financial statements or other financing information with respect to such business entity demonstrating to the reasonable satisfaction of the
Required Holders the basis for such computations. 
 “Consolidated Interest Expense” is defined in Section 10.9(c).

 “Consolidated Net Income” means with respect to the Company and its Subsidiaries, for any period, the aggregate of the
net income (or loss) of the Company and its Subsidiaries after allowances for taxes for such period determined on a consolidated basis in accordance with GAAP; provided that there shall be excluded from such net income (to the extent otherwise
included therein) the following: (a) the net income of any Person in which the Company or any Subsidiary has an interest (which interest does not cause the net income of such other Person to 

  
 Schedule B-3 







 
be consolidated with the net income of the Company and its Subsidiaries in accordance with GAAP), except to the extent of the amount of dividends or distributions actually paid in cash during
such period by such other Person to the Company or a Subsidiary, as the case may be; (b) the net income (but not loss) during such period of any Subsidiary to the extent that the declaration or payment of dividends or similar distributions or
transfers or loans by such Subsidiary is not at the time permitted by operation of the terms of its charter or any agreement, instrument or Governmental Requirement applicable to such Subsidiary or is otherwise restricted or prohibited, in each case
determined in accordance with GAAP; (c) the net income (or loss) of any Person acquired in a pooling-of-interests transaction for any period prior to the date of such transaction; (d) any extraordinary gains or losses during such period
and (e) any gains or losses attributable to writeups or writedowns of assets, including ceiling test writedowns and impairments of long-lived assets. 

“Consolidated Total Assets” means, as of any date, the assets and properties of the Company and its Subsidiaries as of such
date, determined on a consolidated basis in accordance with GAAP; provided, however, that Consolidated Total Assets shall be determined without giving effect to non-cash charges associated with successful efforts impairment test accounting or other
similar tests resulting in non-cash charges. 
 “Control Event” means the execution of any written agreement which, when
fully performed by the parties thereto, would result in a Change in Control. 
 “Controlled Affiliate” means, at any time,
and with respect to any Person, any Affiliate of such Person that at such time is Controlled by such first Person. As used in this definition, “Control” means the possession, directly or indirectly, of the power to direct or cause the
direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise. 

“Controlled Entity” means any of the Subsidiaries of the Company and any of their or the Company’s respective Controlled
Affiliates. 
 “Crude Oil” means all crude oil and condensate. 

“Debt Prepayment Application” means, with respect to any Disposition under Section 10.6(e) of any assets, the
application by the Company or any Subsidiary, as the case may be, of cash in an amount equal to the net proceeds with respect to such Disposition to pay Senior Indebtedness (other than (a) Senior Indebtedness owing to the Company or any of its
Subsidiaries or any Affiliate and (b) Senior Indebtedness in respect of any revolving credit or similar facilities providing the Company or any Subsidiary with the right to obtain loans or other extensions of credit from time to time, unless in
connection with such payment of Senior Indebtedness the availability of credit under such credit facility is permanently reduced by an amount not less than the amount of such prepayment), provided that in the course of making such application
the Company shall offer to prepay each outstanding Note, in accordance with Section 8.4, in a principal amount which equals the Ratable Portion of such Note in respect of such Disposition. 

“Debt Prepayment Transfer” is defined in Section 8.4(a). 

  
 Schedule B-4 







 “Default” means an event or condition the occurrence or existence of which
would, with the lapse of time or the giving of notice or both, become an Event of Default. 
 “Default Rate” means, with
respect to any Note, that rate of interest that is equal to the greater of (a) 2% per annum above the rate of interest stated in clause (a) of the first paragraph of the Notes or (b) 2% over the rate of interest publicly announced by
Bank of America, N.A. from time to time at its principal office in New York, New York as its “base” or “prime” rate. 

“Disposition” is defined in Section 10.6 

“Electronic Delivery” is defined in Section 7.1(a). 

“Environmental Laws” means any and all federal, state, local and foreign statutes, laws, regulations, ordinances, rules,
judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or other governmental restrictions relating to the environment or to emissions, discharges or releases of pollutants, contaminants, petroleum or petroleum
products (including natural gas), chemicals or industrial, toxic or hazardous substances or wastes into the environment including, without limitation, ambient air, surface water, ground water, or land, or otherwise relating to the manufacture,
processing, distribution, use, treatment, storage, disposal, transport or handling of pollutants, contaminants, petroleum or petroleum products (including natural gas), chemicals or industrial, toxic or hazardous substances or wastes or the clean-up
or other remediation thereof, including the Oil Pollution Act of 1990 (“OPA”), as amended, the Clean Air Act, as amended, the Comprehensive Environmental, Response, Compensation, and Liability Act of 1980 (“CERCLA”), as amended,
the Federal Water Pollution Control Act, as amended, the Occupational Safety and Health Act of 1970, as amended, the Resource Conservation and Recovery Act of 1976 (“RCRA”), as amended, the Safe Drinking Water Act, as amended, the Toxic
Substances Control Act, as amended and the Superfund Amendments and Reauthorization Act of 1986, as amended, and the Hazardous Materials Transportation Law, as amended. 

“Environmental Liability” means any liability, contingent or otherwise (including any liability for damages, costs or
environmental remediation, fines, penalties or indemnities), of the Company or any of its Subsidiaries directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the generation, use, handling,
transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or any Hazardous Materials into the environment or (e) any contract or agreement or other consensual
arrangement pursuant to which liability is assumed or imposed with respect to the foregoing. 
 “ERISA” means the Employee
Retirement Income Security Act of 1974, as amended from time to time, and the rules and regulations promulgated thereunder from time to time in effect. 

“ERISA Affiliate” means any trade or business (whether or not incorporated) that is treated as a single employer together
with the Company under section 414 of the Code. 
 “ERISA Event” means (a) any “reportable event”, as
defined in Section 4043(c) of ERISA or the regulations issued thereunder with respect to a Plan (other than an event for which 

  
 Schedule B-5 







 
the 30-day notice period is waived); (b) the failure to make any required contribution, including estimated installment payment thereof, under the Pension Funding Rules, whether or not
waived; (c) the filing pursuant to Section 412(c) of the Code or Section 302(c) of ERISA of an application for a waiver of the minimum funding standard with respect to any Plan; (d) the incurrence by the Company or any of its
ERISA Affiliates of any liability under Title IV of ERISA with respect to the termination of any Plan; (e) the receipt by the Company or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention to
terminate any Plan or Plans or to appoint a trustee to administer any Plan; (f) the incurrence by the Company or any of its ERISA Affiliates of any liability with respect to the withdrawal or partial withdrawal from any Plan or Multiemployer
Plan; or (g) the receipt by the Company or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from the Company or any ERISA Affiliate of any notice, concerning the imposition of withdrawal liability or a determination
that a Multiemployer Plan is, or is expected to be, insolvent or in reorganization, within the meaning of Title IV of ERISA. 

“Event of Default” is defined in Section 11. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, or any successor statute. For purposes of the
definitions of “Change of Control” and “Qualifying Director,” unless otherwise defined in such Sections, the terms enclosed in quotation marks as used therein have the meanings ascribed to such terms under the Exchange Act and
the rules and regulations promulgated by the Securities and Exchange Commission thereunder. 
 “Form
10-K” is defined in Section 7.1(b). 
 “Form
10-Q” is defined in Section 7.1(a). 
 “GAAP” means generally
accepted accounting principles as in effect from time to time in the United States of America. 
 “Governmental Authority”
means 
 (a) the government of 

(i) the United States of America or any State or other political subdivision thereof, or 

(ii) any other jurisdiction in which the Company or any Subsidiary conducts all or any part of its business, or which asserts
jurisdiction over any properties of the Company or any Subsidiary, or 
 (b) any entity exercising executive, legislative,
judicial, regulatory or administrative functions of, or pertaining to, any such government. 
 “Governmental Requirement”
means any law, statute, code, ordinance, order, determination, rule, regulation, judgment, decree, injunction, franchise, permit, certificate, license, rules of common law, authorization or other directive or requirement, whether now or hereinafter
in effect, of any Governmental Authority. 

  
 Schedule B-6 







 “Guaranty” means, with respect to any Person, any obligation (except the
endorsement in the ordinary course of business of negotiable instruments for deposit or collection) of such Person guaranteeing or in effect guaranteeing any indebtedness, dividend or other obligation of any other Person in any manner, whether
directly or indirectly, including (without limitation) obligations incurred through an agreement, contingent or otherwise, by such Person: 

(a) to purchase such indebtedness or obligation or any property constituting security therefor; 

(b) to advance or supply funds (i) for the purchase or payment of such indebtedness or obligation, or (ii) to
maintain any working capital or other balance sheet condition or any income statement condition of any other Person or otherwise to advance or make available funds for the purchase or payment of such indebtedness or obligation; 

(c) to lease properties or to purchase properties or services primarily for the purpose of assuring the owner of such
indebtedness or obligation of the ability of any other Person to make payment of the indebtedness or obligation; or 
 (d)
otherwise to assure the owner of such indebtedness or obligation against loss in respect thereof. 
 In any computation of the indebtedness or other
liabilities of the obligor under any Guaranty, the indebtedness or other obligations that are the subject of such Guaranty shall be assumed to be direct obligations of such obligor. 

“Hazardous Material” means any substance regulated or as to which liability might arise under any applicable Environmental
Law including: (a) any chemical, compound, material, product, byproduct, substance or waste defined as or included in the definition or meaning of “hazardous substance,” “hazardous material,” “hazardous waste,”
“solid waste,” “toxic waste,” “extremely hazardous substance,” “toxic substance,” “contaminant,” “pollutant,” or words of similar meaning or import found in any applicable Environmental
Law; (b) Hydrocarbons, petroleum products, petroleum substances, natural gas, oil, oil and gas waste, crude oil, and any components, fractions, or derivatives thereof; and (c) radioactive materials, explosives, asbestos or asbestos
containing materials, polychlorinated biphenyls, radon, infectious or medical wastes. 
 “holder” means, with respect to
any Note the Person in whose name such Note is registered in the register maintained by the Company pursuant to Section 13.1. 

“Hydrocarbons” means all Crude Oil and Natural Gas produced from or attributable to the Petroleum Properties of the Company
and its Subsidiaries. 
 “Indebtedness” of any Person means, without duplication, (a) all obligations of such Person
for borrowed money or with respect to deposits or advances of any kind, (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person upon which interest charges are
customarily paid (excluding current accounts payable incurred in the ordinary course of business), (d) all obligations of such Person under conditional sale or other title retention agreements relating to property acquired by such Person,
(e) all obligations of such Person in respect of the deferred purchase price of property or 

  
 Schedule B-7 







 
services (excluding current accounts payable incurred in the ordinary course of business), (f) all Indebtedness of others secured by (or for which the holder of such Indebtedness has an
existing right, contingent or otherwise, to be secured by) any Lien on property owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed, (g) all Guaranties by such Person of Indebtedness of others,
(h) all Capital Lease Obligations of such Person, (i) all obligations, contingent or otherwise, of such Person as an account party in respect of letters of credit and letters of guaranty, (j) all obligations, contingent or otherwise,
of such Person in respect of bankers’ acceptances and (k) all obligations of such Person with respect to Advance Payment Contracts to which such Person is a party. The Indebtedness of any Person shall include the Indebtedness of any other
entity (including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such Person’s ownership interest in or other relationship with such entity, except to the extent the terms
of such Indebtedness provide that such Person is not liable therefor. 
 “Indebtedness and Other Liabilities” means, at any
date, the sum of, without duplication, (a) Indebtedness (under clauses (a) through and including (h) of such definition) of the Company and its Subsidiaries at such date, plus (b) the amount, if any, by which Negative Adjusted
Working Capital at such date exceeds 6% of the Present Value of Proved Reserves, minus (c) Non-Recourse Debt of the Company and its Subsidiaries at such date. 

“INHAM Exception” is defined in Section 6.2(e). 

“Institutional Investor” means (a) any Purchaser of a Note, (b) any holder of a Note holding (together with one or
more of its affiliates) more than 5% of the aggregate principal amount of the Notes then outstanding, (c) any bank, trust company, savings and loan association or other financial institution, any pension plan, any investment company, any
insurance company, any broker or dealer, or any other similar financial institution or entity, regardless of legal form, and (d) any Related Fund of any holder of any Note. 

“Intercompany Indebtedness” means Indebtedness of Wholly-Owned Subsidiaries owing to the Company. 

“Lien” means, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance,
charge or security interest in, on or of such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, Capital Lease or title retention agreement (or any financing lease having substantially the same economic effect
as any of the foregoing) relating to such asset and (c) in the case of securities, any purchase option, call or similar right of a third party with respect to such securities (other than customary director, officer and employee stock option
plans and “poison pill” plans). 
 “Make-Whole Amount” is defined in Section 8.8. 

“Material” means material in relation to the business, operations, affairs, financial condition, assets or properties of the
Company and its Subsidiaries taken as a whole. 
 “Material Subsidiary” means any Subsidiary of the Company representing
more than 5% of Consolidated Total Assets or 5% of total revenue (for the immediately preceding four fiscal quarters) of the Company and its Subsidiaries. 

  
 Schedule B-8 







 “Material Adverse Effect” means a material adverse effect on (a) the
business, operations, affairs, financial condition, assets or properties of the Company and its Subsidiaries taken as a whole, or (b) the ability of the Company to perform its obligations under this Agreement and the Notes, or (c) the
validity or enforceability of this Agreement or the Notes. 
 “Memorandum” is defined in Section 5.3. 

“Multiemployer Plan” means any Plan that is a “multiemployer plan” (as such term is defined in section 4001(a)(3)
of ERISA). 
 “NAIC” means the National Association of Insurance Commissioners or any successor thereto. 

“Natural Gas” means all natural gas, distillate or sulphur, natural gas liquids and all products recovered in the processing
of natural gas (other than condensate) including, without limitation, natural gasoline, coalbed methane gas, casinghead gas, iso-butane, normal butane, propane and ethane (including such methane allowable in commercial ethane). 

“Negative Adjusted Working Capital” means, at any date, the amount, if any, by which current liabilities other than
Indebtedness (under clauses (a) through and including (h) of such definition) of the Company and its Subsidiaries exceeds current assets of such Persons, determined on a consolidated basis as of such date. 

“Non-Recourse Debt” of any Person means Indebtedness of such Person in respect of which (a) the recourse of the holder
of such Indebtedness, whether direct or indirect and whether contingent or otherwise, is effectively limited to the assets directly securing such Indebtedness; (b) such holder may not collect by levy of execution against assets of such Person
generally (other than the assets directly securing such Indebtedness) if such Person fails to pay such Indebtedness when due and the holder obtains a judgment with respect thereto; and (c) such holder has waived, to the extent such holder may
effectively do so, such holder’s right to elect recourse treatment under 11 U.S.C. (S) 1111(b). 
 “Notes” is
defined in Section 1. 
 “OFAC” is defined in Section 5.16(a). 

“OFAC Listed Person” is defined in Section 5.16(a). 

“OFAC Sanctions Program” means any economic or trade sanction that OFAC is responsible for administering and enforcing. A
list of OFAC Sanctions Programs may be found at http://www.ustreas.gov/offices/enforcement/ofac/programs. 
 “Officer’s
Certificate” means a certificate of a Senior Financial Officer or of any other officer of the Company whose responsibilities extend to the subject matter of such certificate. 

“PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA or any successor thereto. 

  
 Schedule B-9 







 “Pension Funding Rules” means the rules of the Code and ERISA regarding minimum
required contributions (including any installment payment thereof) to Plans and set forth in Sections 412 and 430 through 436 of the Code and Part 3, Subtitle I, of Title I of ERISA each as in effect from time to time. 

“Permitted Encumbrances” means: 

(a) Liens for taxes, assessments, or similar charges, incurred in the ordinary course of business that are not yet due and
payable; 
 (b) Liens of mechanics, materialmen, warehousemen, carriers, landlords or other like liens (including, without
limitation, liens arising in favor of sellers of hydrocarbons), securing obligations incurred in the ordinary course of business that are not yet due and payable; 

(c) Pledges or deposits in connection with or to secure workmen’s compensation, unemployment insurance, pensions or other
employee benefits; 
 (d) Encumbrances consisting of covenants, zoning restrictions, rights, easements, liens, governmental
environmental permitting and operation restrictions, operating restrictions under leases, the exercise by governmental bodies or third parties of eminent domain or condemnation rights, or any other restrictions on the use of real property, none of
which materially impairs the use of such property by the Company or its Subsidiaries in the operation of its business, and none of which is violated in any material respect by existing or proposed operations; 

(e) Liens of operators and/or co-working interest owners under joint operating agreements or similar contractual arrangements
with respect to the Company’s or its Subsidiaries’ proportionate share of the expense of exploration, development and operation of oil, gas and mineral leasehold or fee interests owned jointly with others, to the extent that same relate to
sums not yet overdue, or if they relate to sums that are overdue, then to the extent that the same are being contested in good faith by appropriate proceedings and with respect to which adequate reserves are set aside on its books in accordance with
GAAP; 
 (f) Liens arising in the ordinary course of business under farm-out agreements, gas sales contracts, operating
agreements, unitization and pooling agreements, and such other documents as are customarily found in connection with comparable drilling and producing operations; 

(g) letters of credit, pledges or deposits, including bonds, required in the ordinary course of business to secure public or
statutory obligations or to secure performance in connection with bids or contracts relating to the exploration or development of Petroleum Properties, to the extent that payment of the underlying obligations is not yet due or is being contested in
good faith by appropriate proceedings by or on behalf of the Company or a Subsidiary and with respect to which appropriate reserves have been established in accordance with GAAP; 

  
 Schedule B-10 







 (h) Liens representing gas imbalances; 

(i) The following, if the validity or amount thereof is being contested in good faith by appropriate and lawful proceedings and
with respect to which adequate reserves are set aside on its books, and so long as they do not, in the aggregate, materially detract from the value of the property of the Company, or materially impair the use thereof in the operation of its
business: 
 (1) Claims or liens for taxes, assessments, or charges due and payable and subject to interest or penalty; 

(2) Claims, liens, and encumbrances upon, and defects of title to, real or personal property, including any attachment of
personal or real property or other legal process prior to adjudication of a dispute on the merits; 
 (3) Claims or liens of
mechanics, materialmen, warehousemen, carriers, or other like liens (including, without limitation, liens arising in form of sellers of hydrocarbons); and 

(4) Adverse judgments on appeal; and 

(i) Inchoate liens in respect of royalty owners; 

provided that the term “Permitted Encumbrances” shall not include any Lien securing Indebtedness except as provided in clause
(h) to the extent consisting of any Advance Payment Contracts. 
 “Person” means an individual, partnership,
corporation, limited liability company, association, trust, unincorporated organization, business entity or Governmental Authority. 

“Petroleum Property” means any interest of the Company or any Subsidiary in oil and gas reserves and assets consisting
primarily of gas gathering, processing and storage facilities and transmission pipelines. 
 “Plan” means an “employee
benefit plan” (as defined in section 3(3) of ERISA) subject to Title I of ERISA that is or, within the preceding five years, has been established or maintained, or to which contributions are or, within the preceding five years, have been made
or required to be made, by the Company or any ERISA Affiliate or with respect to which the Company or any ERISA Affiliate may have any liability. 

“Present Value of Proved Reserves” means, at any time, the net present value, discounted at 10% per annum, of the future
after-tax net revenues expected to accrue to the Company’s and its Subsidiaries’ collective interests in Proved Reserves expected to be produced from their Petroleum Properties during the remaining expected economic lives of such reserves.
Each calculation of such expected future net revenues shall be made in accordance with the then existing standards of the Society of Petroleum Engineers, provided that in any event (a) appropriate deductions shall be made for severance and ad
valorem taxes, and for operating, gathering, transportation and marketing costs required for the production and sale of such 

  
 Schedule B-11 







 
reserves, (b) appropriate adjustments shall be made for hedging operations, provided that Swap Agreements with non-investment grade counterparties shall not be taken into account to the
extent that such Swap Agreements improve the position of or otherwise benefit the Company or any of its Subsidiaries, (c) the pricing assumptions used in determining net present value for any particular reserves shall be based upon the
following price decks: (i) for natural gas, the quotation for deliveries of natural gas for each such year from the New York Mercantile Exchange for Henry Hub, provided that with respect to quotations for calendar years after the fifth calendar
year, the quotation for the fifth calendar year shall be applied and (ii) for crude oil, the quotation for deliveries of West Texas Intermediate crude oil for each such calendar year from the New York Mercantile Exchange for Cushing, Oklahoma,
provided that with respect to quotations for calendar years after the fifth calendar year, the quotation for the fifth calendar year shall be applied, and (d) the cash-flows derived from the pricing assumptions set forth in clause
(c) above shall be further adjusted to account for the historical basis differentials for each month during the preceding 12-month period calculated by comparing realized crude oil and natural gas prices to Cushing, Oklahoma and Henry Hub NYMEX
prices for each month during such period; provided that in calculating the Present Value of Proved Reserves, Proved Undeveloped Reserves shall not be taken into account to the extent that more than 30% of the Present Value of Proved Reserves is
attributable to Proved Undeveloped Reserves. 
 “Priority Debt” means, as of any date, the sum (without duplication) of
(a) Indebtedness of the Company or any of its Subsidiaries secured by Liens not otherwise permitted by Sections 10.5(a) through (k) and (b) Indebtedness of Subsidiaries other than (i) Indebtedness of a Subsidiary outstanding on
date hereof and set forth in Schedule 5.15, and any extension, renewal, refinancing or refunding, provided that the principal amount of such Indebtedness is not increased; (ii) Indebtedness of a Subsidiary owed to the Company or a Subsidiary
Guarantor; (iii) Indebtedness of a Subsidiary that is not a Subsidiary Guarantor owed to a Subsidiary; (iv) Indebtedness of a Subsidiary outstanding at the time it becomes a Subsidiary and extensions, renewals and refundings thereof,
provided that (x) such Indebtedness shall not have been incurred in contemplation of such Subsidiary becoming a Subsidiary, (y) immediately after such Subsidiary becomes a Subsidiary, no Default or Event of Default shall exist, and
(z) such Indebtedness is not outstanding for more than one year from the date such entity becomes a Subsidiary; and (v) Indebtedness of a Subsidiary Guarantor. 

“property” or “properties” means, unless otherwise specifically limited, real or personal property of any kind,
tangible or intangible, choate or inchoate. 
 “Proposed Prepayment Date” is defined in Section 8.3(b). 

“Proved Developed Non-Producing Reserves” has the meaning assigned to that term by the Society of Petroleum Engineers, as it
may be amended from time to time, but generally shall mean the subcategory of “Proved Developed Reserves” (as defined by the Society of Petroleum Engineers) which will become “Proved Developed Producing Reserves” upon minor
capital expenditures being made with respect to existing wells which will cause formerly non-producing completions or intervals to become open and producing to market. 

“Proved Developed Producing Reserves” has the meaning assigned to that term by the Society of Petroleum Engineers, as it may
be amended from time to time, but generally shall 

  
 Schedule B-12 







 
mean the subcategory of “Proved Developed Reserves” (as defined by the Society of Petroleum Engineers) which are recoverable by natural reservoir energies (including pumping) from the
completion intervals currently open and producing to market. Additional oil and gas expected to be obtained through the application of fluid injection or other improved recovery techniques for supplementing the natural forces and mechanisms of
primary recovery will be included as “Proved Developed Producing Reserves” only after testing by a pilot project or after the operation of an installed program has confirmed through production response through existing completions
producing to market that increased recovery will be achieved. Proved Developed Producing Reserves shall not include any Proved Developed Non-Producing Reserves. 

“Proved Reserves” means and includes Proved Developed Producing Reserves, Proved Developed Non-Producing Reserves and Proved
Undeveloped Reserves. 
 “Proved Undeveloped Reserves” has the meaning assigned to that term by the Society of Petroleum
Engineers, as it may be amended from time to time, but generally shall mean those reserves that are expected to be recovered from new wells on undrilled acreage, or from existing wells where a relatively major expenditure is required for
recompletion. Proved Undeveloped Reserves on undrilled acreage shall be limited to those drilling units offsetting productive units that are reasonably certain of production when drilled. Proved Undeveloped Reserves for other undrilled units can be
claimed only where it can be demonstrated with certainty that there is continuity of production from the existing productive formation. Under no circumstances should estimates for Proved Undeveloped Reserves be attributable to any acreage for which
an application of fluid injection or other improved recovery technique is contemplated, unless such techniques have been proved effective by actual tests in the area and in the same reservoir. 

“PTE” is defined in Section 6.2(a). 

“Purchaser” is defined in the first paragraph of this Agreement. 

“QPAM Exception” is defined in Section 6.2(d). 

“Qualified Institutional Buyer” means any Person who is a “qualified institutional buyer” within the meaning of
such term as set forth in Rule 144A(a)(1) under the Securities Act. 
 “Qualifying Directors” means any director who
(a) is elected by a majority of the members of the board of directors of the Company who were directors immediately prior to the event that caused the change in directorships and (b) is not a “person” or member of a
“group” of persons, or an “affiliate” or “associate” of any “person” or “group” member, or an “associate” of an “affiliate” of any such “person” or “group”
member, which “person” or “group” of persons, together with all of their respective “affiliates” and “associates” and all “associates” of their respective “affiliates” (other than a
“person” or “group” of persons or an “affiliate” or “associate” of such “person” or “group” of persons or an “associate” of such “affiliate” in each case which is
affiliated with the Company or any Subsidiary) comprise a majority of the board of directors of the Company. 

  
 Schedule B-13 







 “Ratable Portion” means, in respect of any holder of any Note upon any
Disposition under Section 10.6(e), an amount equal to the product of 
 (a) the net proceeds arising from such Disposition being
offered to be applied to the payment of Senior Indebtedness pursuant to Section 10.6(iii)(B), multiplied by 
 (b) a fraction, the
numerator of which is the outstanding principal amount of such holder’s Note, and the denominator of which is the aggregate outstanding principal amount of all Senior Indebtedness at the time of such Disposition determined on a consolidated
basis in accordance with GAAP. 
 “Related Fund” means, with respect to any holder of any Note, any fund or entity that
(i) invests in Securities or bank loans, and (ii) is advised or managed by such holder, the same investment advisor as such holder or by an affiliate of such holder or such investment advisor. 

“Required Holders” means, at any time, the holders of at least a majority in principal amount of the Notes at the time
outstanding (exclusive of Notes then owned by the Company or any of its Affiliates). 
 “Reserve Report” means the reserve
report delivered to the Purchasers for the fiscal year ended December 31, 2013 and, subsequently, a report delivered by the Company pursuant to Section 7.1(g). 

“Responsible Officer” means any Senior Financial Officer and any other officer of the Company with responsibility for the
administration of the relevant portion of this Agreement. 
 “SEC” shall mean the Securities and Exchange Commission of the
United States, or any successor thereto. 
 “Securities” or “Security” shall have the meaning specified in
Section 2(1) of the Securities Act. 
 “Securities Act” means the Securities Act of 1933, as amended from time to
time, and the rules and regulations promulgated thereunder from time to time in effect. 
 “Senior Indebtedness” means the
Notes and any Indebtedness of the Company or its Subsidiaries that by its terms is not in any manner subordinated in right of payment to any other unsecured Indebtedness of the Company or any Subsidiary. 

“Senior Financial Officer” means the chief financial officer, principal accounting officer, treasurer or comptroller of the
Company. 
 “Series” means any one or more of the series of Notes issued hereunder. 

“Series K Notes” is defined in Section 1(a). 

“Series L Notes” is defined in Section 1(b). 

“Series M Notes” is defined in Section 1(c). 

“Source” is defined in Section 6.2. 

  
 Schedule B-14 







 “Subsidiary” means, as to any Person, any other Person in which such first
Person or one or more of its Subsidiaries or such first Person and one or more of its Subsidiaries owns sufficient equity or voting interests to enable it or them (as a group) ordinarily, in the absence of contingencies, to elect a majority of the
directors (or Persons performing similar functions) of such second Person, and any partnership or joint venture if more than a 50% interest in the profits or capital thereof is owned by such first Person or one or more of its Subsidiaries or such
first Person and one or more of its Subsidiaries (unless such partnership or joint venture can and does ordinarily take major business actions without the prior approval of such Person or one or more of its Subsidiaries). Unless the context
otherwise clearly requires, any reference to a “Subsidiary” is a reference to a Subsidiary of the Company. 
 “Subsidiary
Guaranty” is defined in Section 9.8 and includes any guaranty executed and delivered after the date of Closing by a Material Subsidiary pursuant to Section 9.8. 

“Subsidiary Guarantor” means any Subsidiary of the Company that hereafter executes and delivers a Subsidiary Guaranty
pursuant to Section 9.8. 
 “SVO” means the Securities Valuation Office of the NAIC or any successor to such Office.

 “Swap Agreement” means any agreement with respect to any swap, forward, future or derivative transaction or option or
similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or
any similar transaction or any combination of these transactions; provided that no phantom stock or similar plan providing for payments only on account of services provided by current or former directors, officers, employees or consultants of the
Company or the Subsidiaries shall be a Swap Agreement. 
 “Transfer Prepayment Date” is defined in Section 8.4(a).

 “Transfer Prepayment Offer” is defined in Section 8.4(a). 

“USA Patriot Act” means United States Public Law 107-56, Uniting and Strengthening America by Providing Appropriate Tools
Required to Intercept and Obstruct Terrorism (USA PATRIOT ACT) Act of 2001, as amended from time to time, and the rules and regulations promulgated thereunder from time to time in effect. 

“Voting Stock” means, with respect to any Person, any class of shares of stock or other equity interests of such Person
having general voting power under ordinary circumstances to elect the board of directors or other managing entities, as appropriate, of such Person (irrespective of whether or not at the time stock of any other class or classes or other equity
interests of such Person shall have or might have voting power by reason of the happening of any contingency). 
 “Wholly-Owned
Subsidiary” means, at any time, any Subsidiary one hundred percent of all of the equity interests (except directors’ qualifying shares) and voting interests of which are owned by any one or more of the Company and the Company’s
other Wholly-Owned Subsidiaries at such time. 

  
 Schedule B-15 







 Schedule 5.3 

Disclosure Materials 
 [Omitted]


  
 Schedule 5.3-1 







 Schedule 5.4 

Organization and Ownership of Shares of Subsidiaries 

[Omitted] 

  
 Schedule 5.4-1 







 Schedule 5.5 

Financial Statements 
 [Omitted]


  
 Schedule 5.5-1 







 Schedule 5.15 

Existing Indebtedness 
 [Omitted]


  
 Schedule 5.15-1 







 Schedule 10.5 

Existing Liens 
 [Omitted] 

  
 Schedule 10.5-1 







 Exhibit 1(a) 

FORM OF SERIES K NOTE 

CABOT OIL & GAS CORPORATION 

3.24% SERIES K SENIOR NOTE DUE SEPTEMBER 18, 2021 

 

			
	No. RK-[        ]	  	[Date]
	$[        ]	  	PPN: 127097 E*0

 For Value Received, the undersigned, CABOT OIL & GAS CORPORATION, a corporation organized and
existing under the laws of the State of Delaware (herein called the “Company”), hereby promises to pay to
[                    ], or registered assigns, the principal sum of
[                    ] DOLLARS (or so much thereof as shall not have been prepaid) on September 18, 2021, with interest (computed on the
basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance hereof at the rate of 3.24% per annum from the date hereof, payable semiannually, on the 18th day of March and September in
each year, commencing with the March next succeeding the date hereof, until the principal hereof shall have become due and payable, and (b) to the extent permitted by law, on any overdue payment of interest and, during the continuance of an
Event of Default, on such unpaid balance and on any overdue payment of any Make-Whole Amount, at a rate per annum from time to time equal to the greater of (i) 5.24% or (ii) 2% over the rate of interest publicly announced by Bank of
America, N.A. from time to time in New York, New York as its “base” or “prime” rate, payable semiannually as aforesaid (or, at the option of the registered holder hereof, on demand). 

Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are to be made in lawful money of the United States
of America at the principal office of JPMorgan Chase Bank, N.A. in New York, New York or at such other place as the Company shall have designated by written notice to the holder of this Note as provided in the Note Purchase Agreement referred to
below. 
 This Note is one of the Series K Senior Notes (herein called the “Notes”) issued pursuant to the Note Purchase
Agreement, dated as of September 18, 2014 (as from time to time amended, supplemented or otherwise modified, the “Note Purchase Agreement”), between the Company and the respective Purchasers named therein and is entitled to the
benefits thereof. Each holder of this Note will be deemed, by its acceptance hereof, to have (i) agreed to the confidentiality provisions set forth in Section 20 of the Note Purchase Agreement and (ii) made the representation set
forth in Section 6.2 of the Note Purchase Agreement. Unless otherwise indicated, capitalized terms used in this Note shall have the respective meanings ascribed to such terms in the Note Purchase Agreement. 

This Note is a registered Note and, as provided in the Note Purchase Agreement, upon surrender of this Note for registration of transfer
accompanied by a written instrument of transfer duly executed, by the registered holder hereof or such holder’s attorney duly authorized in writing, a new Note for a like principal amount will be issued to, and registered in the name of, the
transferee. Prior to due presentment for registration of transfer, the Company may treat the 

  
 Exhibit 1(a)-1 







 
person in whose name this Note is registered as the owner hereof for the purpose of receiving payment and for all other purposes, and the Company will not be affected by any notice to the
contrary. 
 This Note is also subject to optional prepayment, in whole or from time to time in part, at the times and on the terms
specified in the Note Purchase Agreement, but not otherwise. 
 If an Event of Default occurs and is continuing, the principal of this Note
may be declared or otherwise become due and payable in the manner, at the price (including any applicable Make-Whole Amount) and with the effect provided in the Note Purchase Agreement. 

This Note shall be construed and enforced in accordance with, and the rights of the Company and the holder of this Note shall be governed by,
the law of the State of New York excluding choice-of-law principles of the law of such State that would permit the application of the laws of a jurisdiction other than such State. 

 

			
	CABOT OIL & GAS CORPORATION
		
	By	 	  

	Name:	 	
	Title:	 	



  
 Exhibit 1(a)-2 







 Exhibit 1(b) 

FORM OF SERIES L NOTE 

CABOT OIL & GAS CORPORATION 

3.67% SERIES L SENIOR NOTE DUE SEPTEMBER 18, 2024 

 

			
	No. RL-[        ]	  	[Date]
	$[        ]	  	PPN: 127097 E@8

 For Value Received, the undersigned, CABOT OIL & GAS CORPORATION, a corporation organized and
existing under the laws of the State of Delaware (herein called the “Company”), hereby promises to pay to
[                    ], or registered assigns, the principal sum of
[                    ] DOLLARS (or so much thereof as shall not have been prepaid) on September 18, 2024, with interest (computed on the
basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance hereof at the rate of 3.67% per annum from the date hereof, payable semiannually, on the 18th day of March and September in
each year, commencing with the March next succeeding the date hereof, until the principal hereof shall have become due and payable, and (b) to the extent permitted by law, on any overdue payment of interest and, during the continuance of an
Event of Default, on such unpaid balance and on any overdue payment of any Make-Whole Amount, at a rate per annum from time to time equal to the greater of (i) 5.67% or (ii) 2% over the rate of interest publicly announced by Bank of
America, N.A. from time to time in New York, New York as its “base” or “prime” rate, payable semiannually as aforesaid (or, at the option of the registered holder hereof, on demand). 

Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are to be made in lawful money of the United States
of America at the principal office of JPMorgan Chase Bank, N.A. in New York, New York or at such other place as the Company shall have designated by written notice to the holder of this Note as provided in the Note Purchase Agreement referred to
below. 
 This Note is one of the Series L Senior Notes (herein called the “Notes”) issued pursuant to the Note Purchase
Agreement, dated as of September 18, 2014 (as from time to time amended, supplemented or otherwise modified, the “Note Purchase Agreement”), between the Company and the respective Purchasers named therein and is entitled to the
benefits thereof. Each holder of this Note will be deemed, by its acceptance hereof, to have (i) agreed to the confidentiality provisions set forth in Section 20 of the Note Purchase Agreement and (ii) made the representation set
forth in Section 6.2 of the Note Purchase Agreement. Unless otherwise indicated, capitalized terms used in this Note shall have the respective meanings ascribed to such terms in the Note Purchase Agreement. 

This Note is a registered Note and, as provided in the Note Purchase Agreement, upon surrender of this Note for registration of transfer
accompanied by a written instrument of transfer duly executed, by the registered holder hereof or such holder’s attorney duly authorized in writing, a new Note for a like principal amount will be issued to, and registered in the name of, the
transferee. Prior to due presentment for registration of transfer, the Company may treat the person in whose name this Note is registered as the owner hereof for the purpose of receiving payment and for all other purposes, and the Company will not
be affected by any notice to the contrary. 

  
 Exhibit 1(b)-1 







 This Note is also subject to optional prepayment, in whole or from time to time in part, at the
times and on the terms specified in the Note Purchase Agreement, but not otherwise. 
 If an Event of Default occurs and is continuing, the
principal of this Note may be declared or otherwise become due and payable in the manner, at the price (including any applicable Make-Whole Amount) and with the effect provided in the Note Purchase Agreement. 

This Note shall be construed and enforced in accordance with, and the rights of the Company and the holder of this Note shall be governed by,
the law of the State of New York excluding choice-of-law principles of the law of such State that would permit the application of the laws of a jurisdiction other than such State. 

 

			
	CABOT OIL & GAS CORPORATION
		
	By	 	  

	Name:	 	
	Title:	 	



  
 Exhibit 1(b)-2 







 Exhibit 1(c) 

FORM OF SERIES M NOTE 

CABOT OIL & GAS CORPORATION 

3.77% SERIES M SENIOR NOTE DUE SEPTEMBER 18, 2026 

 

			
	No. RM-[        ]	  	[Date]
	$[        ]	  	PPN: 127097 E#6

 For Value Received, the undersigned, CABOT OIL & GAS CORPORATION, a corporation organized and
existing under the laws of the State of Delaware (herein called the “Company”), hereby promises to pay to
[                    ], or registered assigns, the principal sum of
[                    ] DOLLARS (or so much thereof as shall not have been prepaid) on September 18, 2026, with interest (computed on the
basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance hereof at the rate of 3.77% per annum from the date hereof, payable semiannually, on the 18th day of March and September in
each year, commencing with the March next succeeding the date hereof, until the principal hereof shall have become due and payable, and (b) to the extent permitted by law, on any overdue payment of interest and, during the continuance of an
Event of Default, on such unpaid balance and on any overdue payment of any Make-Whole Amount, at a rate per annum from time to time equal to the greater of (i) 5.77% or (ii) 2% over the rate of interest publicly announced by Bank of
America, N.A. from time to time in New York, New York as its “base” or “prime” rate, payable semiannually as aforesaid (or, at the option of the registered holder hereof, on demand). 

Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are to be made in lawful money of the United States
of America at the principal office of JPMorgan Chase Bank, N.A. in New York, New York or at such other place as the Company shall have designated by written notice to the holder of this Note as provided in the Note Purchase Agreement referred to
below. 
 This Note is one of the Series M Senior Notes (herein called the “Notes”) issued pursuant to the Note Purchase
Agreement, dated as of September 18, 2014 (as from time to time amended, supplemented or otherwise modified, the “Note Purchase Agreement”), between the Company and the respective Purchasers named therein and is entitled to the
benefits thereof. Each holder of this Note will be deemed, by its acceptance hereof, to have (i) agreed to the confidentiality provisions set forth in Section 20 of the Note Purchase Agreement and (ii) made the representation set
forth in Section 6.2 of the Note Purchase Agreement. Unless otherwise indicated, capitalized terms used in this Note shall have the respective meanings ascribed to such terms in the Note Purchase Agreement. 

This Note is a registered Note and, as provided in the Note Purchase Agreement, upon surrender of this Note for registration of transfer
accompanied by a written instrument of transfer duly executed, by the registered holder hereof or such holder’s attorney duly authorized in writing, a new Note for a like principal amount will be issued to, and registered in the name of,


  
 Exhibit 1(c)-1 







 
the transferee. Prior to due presentment for registration of transfer, the Company may treat the person in whose name this Note is registered as the owner hereof for the purpose of receiving
payment and for all other purposes, and the Company will not be affected by any notice to the contrary. 
 This Note is also subject to
optional prepayment, in whole or from time to time in part, at the times and on the terms specified in the Note Purchase Agreement, but not otherwise. 

If an Event of Default occurs and is continuing, the principal of this Note may be declared or otherwise become due and payable in the manner,
at the price (including any applicable Make-Whole Amount) and with the effect provided in the Note Purchase Agreement. 
 This Note shall be
construed and enforced in accordance with, and the rights of the Company and the holder of this Note shall be governed by, the law of the State of New York excluding choice-of-law principles of the law of such State that would permit the application
of the laws of a jurisdiction other than such State. 
  

			
	CABOT OIL & GAS CORPORATION
		
	By	 	  

	Name:	 	
	Title:	 	



  
 Exhibit 1(c)-2 







 Exhibit 4.4(a) 

FORM OF OPINION OF MANAGING COUNSEL
FOR THE COMPANY 
 [Omitted] 

  
 Exhibit 4.4(a)-1 







 Exhibit 4.4(b) 

FORM OF OPINION OF SPECIAL COUNSEL
FOR THE COMPANY 
 [Omitted] 

  
 Exhibit 4.4(b)-1 







 Exhibit 4.4(c) 

FORM OF OPINION OF SPECIAL COUNSEL
TO THE PURCHASERS 
 [Omitted] 

  
 Exhibit 4.4(c)-1