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Exhibit 10.45
SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE SUCH TERMS ARE BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO EQUITRANS MIDSTREAM CORPORATION IF PUBLICLY DISCLOSED.  THESE REDACTED TERMS HAVE BEEN MARKED IN THIS EXHIBIT AT THE APPROPRIATE PLACE WITH THREE ASTERISKS [***].

November 1, 2020

Rice Drilling B LLC
625 Liberty Avenue, Suite 1700
Pittsburgh, Pa  15222-3111
Attn: Ray Franks

RE:    Heyl Well Pad 

Dear Mr. Franks: 
Reference is made to that certain Gas Gathering and Compression Agreement dated as of February 26, 2020 by and among EQT Corporation, EQT Production Company, Rice Drilling B LLC, and EQT Energy, LLC (collectively, “Producer”), and EQM Gathering Opco, LLC (“Gatherer”), as the same was amended by that certain First Amendment to Gas Gathering and Compression Agreement dated August 26, 2020, between Producer and Gatherer (as amended, the “Gathering Agreement”).  All capitalized terms used but not otherwise defined in this letter agreement (“Letter Agreement”) shall have the meanings (if any) ascribed to them in the Gathering Agreement.
WHEREAS, the Well Pad of Producer located in Washington County, PA within the Applicable Area on TPN: 020-028-00-00-002-01 and known as the Heyl Well Pad (“Heyl Well Pad”) has an Anticipated Production Date of [***];
WHEREAS, the Connection Notice Information for the Additional Receipt Point at the Heyl Well Pad contemplates that such Additional Receipt Point meets the Additional Connection Criteria and, pursuant and subject to the terms of the Gathering Agreement, Gatherer is obligated to connect such Additional Receipt Point to the Gathering System at the Heyl Well Pad at Gatherer’s sole cost and expense, including with respect to the acquisition of all rights of way; and
 WHEREAS, Producer is willing to deliver Dedicated Gas produced from the Heyl Well Pad to the point of interconnection (“Mako Interconnect”) with Gatherer’s NIMAD001 pipeline (the “Mako Line”) as depicted on Exhibit A attached hereto (the “Heyl Receipt Point”) rather than at the Heyl Well Pad. 

WHEREAS, the Parties wish to add a new Delivery Point in the Mercury System AMI at Gatherer’s sole cost and expense, as detailed herein.     
NOW, THEREFORE, Gatherer and Producer (collectively, “Parties” and each a “Party”), by execution of this Letter Agreement and in consideration of the mutual covenants contained herein, do hereby agree as follows:
1.Connection of Well Line to Heyl Receipt Point. 
(a)Gatherer, at its own expense, covenants and agrees to install and place into service the equipment and appurtenant facilities required at the Mako Interconnect for the Heyl Receipt Point on or before the later of (i) [***] and (ii) [***] (“Heyl Completion Date”), consistent with the responsibility matrix set forth on Exhibit B (“Responsibility Matrix”).
(b)Gatherer, at its own expense, covenants and agrees to install the related dehydration facilities and Measurement Facilities on the Heyl Well Pad on or before the Heyl Completion Date and thereafter own, operate and maintain such facilities; provided, however, Producer has agreed to provide Gatherer with sufficient space on the Heyl Well Pad for such facilities. 
(c)Producer, at its own expense, covenants and agrees to construct and install a well line that is at least [***] inches in diameter with a MAOP of [***] psig (“Well Line”) extending from the Heyl Well Pad Measurement Facilities to the Heyl Receipt Point, at which point Gatherer shall receive Dedicated Gas into the Gathering System for delivery under and subject to the Gathering Agreement.  Producer shall connect the Well Line to the Mako Line at the Mako Interconnect on or before [***], consistent with the Responsibility Matrix, provided, however, that Gatherer’s sole remedy for Producer’s failure to construct the Well Line shall be the delay of the Heyl Completion Date, as described in Section 1(a) hereof.  Producer shall thereafter own, operate and maintain the Well Line at its own expense and shall be responsible for all line losses attributable to the Well Line.
(d)Producer hereby agrees, to the extent that it may do so contractually and lawfully (excluding contractual, legal or other rights granted to Producer pursuant to oil, gas or mineral lease), to grant and convey to Gatherer an easement and right of way, including without limitation, the right of ingress and egress to and from the Heyl Well Pad along the route depicted on Exhibit A, for the purpose of installing, maintaining, inspecting, operating, replacing, disconnecting and removing the dehydration facilities and Measurement Facilities on the Heyl Well Pad and the Well Line.  
(e)Gatherer agrees, to the extent that it may do so contractually and lawfully, to grant and convey to Producer necessary easement and right of way and any permits to aid in Producer’s installation of the Well Line.
(f)Notwithstanding anything herein to the contrary, this Letter Agreement shall not alter or affect Producer’s remedies under the Gathering Agreement for Gatherer’s failure to provide service at the Heyl Receipt Point in accordance with the terms thereof, 
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provided, however, that, for the limited purposes of the Heyl Receipt Point, the term Completion Deadline shall, as it applies thereto, mean the Heyl Completion Date.   
2.Transition to Low Pressure; Incremental Compression.
(a)Gatherer, at its own expense, covenants and agrees to construct and install a well line at the location depicted on Exhibit C of approximately [***] feet in length and at least [***] inches in diameter with a MAOP of at least [***] psig (“Jupiter Line”) connecting the Heyl Well Pad to the Gathering System at a new receipt valve near the Mako Interconnect and flowing to the Jupiter and BJ System AMI within [***] months of the Heyl Completion Date (such date of completion being the “Jupiter Line Completion Date”).  Such new receipt valve shall thereafter become the Heyl Receipt Point and Gatherer reserves right to remove the original Heyl Receipt Point at the Mako Interconnect.    
(b)Upon the Jupiter Line Completion Date, (i) the Heyl System AMI shall be eliminated and the Heyl Receipt Point shall become a part of the Jupiter and BJ System AMI, (ii) the Heyl Receipt Point shall be transitioned from High Pressure to Low Pressure, (iii) the dehydration facilities located on the Heyl Well Pad shall be removed, and (iv) Incremental Compression shall be reduced by [***] HP.  
(c)Pursuant to (and not, for the avoidance of doubt, in addition to) Section 5.1(d) of the Gathering Agreement, Dedicated Gas received into the Gathering System from the Heyl Receipt Point after the Jupiter Line Completion Date shall be subject to an Incremental Compression Fee equal to the product of (A) the aggregate quantity of Gas serviced from Incremental Compression, stated in Dth, received from Producer or for Producer’s account (including Dedicated Gas produced by any Affiliate) during such Month at the Heyl Receipt Point multiplied by (B) the number of stages of compression utilized with such Incremental Compression multiplied by (C) the applicable amounts set forth in Exhibit H to the Gathering Agreement; provided, however the Parties hereby agree that the stages of compression utilized for the purpose of clause (B) shall be [***] stage of compression if the average Low Pressure Receipt Point Pressure is greater than or equal to [***] psig and two (2) stages of compression if the average Low Pressure Receipt Point Pressure is less than [***] psig; and provided, further, Producer shall be credited an amount of [***] Dollars ($[***]) against any Incremental Compression Fees thereafter accrued, in the aggregate, with respect to Dedicated Gas received by Gatherer at the Heyl Receipt Point.
(d)In the event that the Jupiter Line Completion Date does not occur by the date that is [***] months following the Heyl Completion Date, Producer shall be credited an amount of [***] Dollars ($[***]) against any fees (including Reservation Fees, Overrun Fees, Pipeline Drip Handling Fees, and Incremental Compression Fees) thereafter accrued, in the aggregate, under the Gathering Agreement.  
3.     Mercury System AMI Additional Delivery Point.  The Parties agree that Exhibit C to the Gathering Agreement shall hereby be amended to include an additional Delivery Point (the “Eureka Smithfield Delivery Point”) in the Mercury AMI, as set forth on Exhibit D. The Eureka Smithfield Delivery Point shall be connected to Eureka Midstream LLC’s Smithfield gathering pipeline and shall provide Services to each of the Receipt Points connected upstream 
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of the Stingray WG100 Delivery Point.  Gatherer shall connect the Eureka Smithfield Delivery Point to the Gathering System at Gatherer’s sole cost and expense.  Parties agree the MRDO for the Eureka Smithfield Delivery Point shall be [***] Mcfd and all Services to such Delivery Point shall be Interruptible Service.  The Parties acknowledge that all Gas tendered to the Receipt Points upstream of the Stingray WG100 Delivery Point shall flow either (a) entirely to the existing Stingray WG100 Delivery Point or (b) entirely to the Eureka Smithfield Delivery Point, and in no event shall proportional flow to each Delivery Point be permitted.   
4.    Miscellaneous.  The terms and provisions of this Letter Agreement shall be binding on, and shall inure to the benefit of, the Parties and their respective successors and permitted assigns.  This Letter Agreement may be executed in any number of counterparts, and each such counterpart hereof shall be deemed to be an original instrument, but all of such counterparts shall constitute for all purposes one agreement.  Any signature hereto delivered by a Party by facsimile or other electronic transmission (including scanned documents delivered by email) shall be deemed an original signature hereto, and execution and delivery by such means shall be binding upon the Parties.
5.    Effect of Letter Agreement.  The Parties acknowledge and agree that this Letter Agreement constitutes a written instrument executed by the Parties and fulfills the requirements of an amendment contemplated by Section 18.7 of the Gathering Agreement.  The Parties hereby ratify and confirm the Gathering Agreement, as amended hereby.  Except as expressly provided herein, the provisions of the Gathering Agreement shall remain in full force and effect in accordance with their respective terms following the execution of this Letter Agreement.  In the event of any conflict or inconsistencies between this Letter Agreement and the Gathering Agreement, the terms and conditions of this Letter Agreement shall prevail.

[SIGNATURE PAGE FOLLOWS]
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IN WITNESS WHEREOF, the Parties have executed this Letter Agreement as of the date first written above 

GATHERER:

EQM GATHERING OPCO, LLC,
a Delaware limited liability company

By:       /s/ Paul Kress            
Name:  Paul Kress
Title: Vice President, Business Development

PRODUCER:

EQT CORPORATION,
a Pennsylvania corporation

By:       /s/ Toby Rice                
Name:       Toby Rice                
Title:       President & CEO            

EQT PRODUCTION COMPANY,
a Pennsylvania corporation

By:       /s/ Toby Rice                
Name:       Toby Rice                
Title:       President & CEO            

RICE DRILLING B LLC,
a Delaware limited liability company

By:       /s/ Toby Rice                
Name:       Toby Rice                
Title:       President & CEO            

EQT ENERGY, LLC,
a Delaware limited liability company

By:       /s/ Keith Shoemaker            
Name:       Keith Shoemaker            
Title:      SVP Commercial            

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Exhibit A

[***]

Exhibit B
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[***]

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Exhibit C 

[***]

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Exhibit D

[***]

																																																			
	SYSTEM AMI	Gas Type	Initial MDQ (Mcfd)	Maximum MDQ (Mcfd)	System Compressor Station	System Compression Station GPS	LP MDQ (Mcfd)	Suction Pressure (psig)	LUF Target %	Fuel Target %	MAOP	Avg Allowable Operating  Pressure (psig)	Delivery Points	Delivery Point GPS	FTS Credit Delivery Point	Initial MRDO (Mcfd)2
	Maximum MRDO (Mcfd)
	MERCURY	[***]	[***]	[***]	[***]	[***]	[***]	[***]	[***]	[***]	[***]	[***]	[***]	[***]			[***]

9Document

Exhibit 10.46
EQUITRANS MIDSTREAM CORPORATION
EXECUTIVE SHORT-TERM INCENTIVE PLAN

Section 1. Incentive Plan Purposes. The main purposes of the Equitrans Midstream Corporation (the “Company”) Executive Short-Term Incentive Plan (the “Plan”) are to maintain a competitive level of total cash compensation by providing the Company’s executives with an opportunity to earn incentives based upon the achievement of performance goals over a specified performance period and to align the interests of the Company’s executives with those of the Company’s shareholders and other stakeholders and with the strategic objectives of the Company.

Section 2. Effective Date; Performance Periods. The Plan is effective January 1, 2021. The Plan will remain in effect until formally amended or terminated in writing by the Company’s Board of Directors (“Board”) or the Management Development and Compensation Committee of the Board (“Committee”) and as provided in Section 14 or the occurrence of a Change of Control as provided in Section 11.  Unless otherwise determined by the Committee and subject to Section 11, each performance period under the Plan (each, a “Performance Period”) shall begin on January 1 and end on December 31 of each calendar year.

Section 3. Eligibility.  All executive officers of the Company shall be eligible to participate in the Plan (each, a “Participant”). Notwithstanding the foregoing, the Committee may exclude specific executive officers from participation in the Plan in its complete and sole discretion. 

Section 4. Administration of the Plan. The Plan shall be administered by the Committee or its delegate.  On an annual or periodic basis, as determined by the Committee, for each Performance Period, (i) the Committee shall determine the Performance Metrics, as defined in Section 5, and (ii) the Committee shall set target incentive percentages (the “Target Incentive Percentages”) for all Participants.  The Committee shall review the aggregate payout amounts attributable to the Target Incentive Percentages for all Participants for each Performance Period.   

Prior to payment of any Award Bonus (as defined in Section 6(b)) for any Performance Period, the Committee shall certify in writing the Performance Metrics achieved and related payout factor earned for such Performance Period, which writing may include meeting minutes of the Committee.  

Section 5. Program Metrics.

(a)     Each Performance Period shall have specific metrics (the “Performance Metrics”). These Performance Metrics will support the business of the Company, or an affiliate of the Company, as applicable, and be based 

upon the specific performance measures established for the Performance Period.

(b)     The Performance Metrics for each Performance Period shall be determined in writing by the Committee; provided that in no event will Performance Metrics be established when the outcome of such Performance Metrics is no longer substantially uncertain. 

(c)     The Performance Metrics determined by the Committee will be objectively determinable goals based upon one or more performance measures determined at the discretion of the Committee, including, by way of example but without limitation, the following:  

•earnings per share
•revenue 
•expenses
•return on equity
•return on total or invested capital
•return on assets
•earnings (such as net income, EBIT and similar measures)
•cash flow (such as EBITDA, after-tax cash flow, distributable cash flow, free cash flow, retained free cash flow and similar measures)
•share price
•debt reduction or leverage
•gross margin
•operating income
•volumes metrics (such as volumes gathered, transported or processed and similar measures)
•operating efficiency metrics (such as general and administrative (G&A) metrics, unit gathering, compression and water services expenses and other midstream efficiency measures, lost and unaccounted for gas metrics, compressor or processing downtime and similar measures) 
•construction efficiency metrics (such as timely completion, cost within budget and similar measures)
•methane reduction or other sustainability metrics
•closing of a transaction
•safety and environmental performance
•total shareholder return
(d)    The Performance Metrics may be based either on the performance of the Company, or an affiliate, branch, department or other portion thereof, for the applicable Performance Period and/or upon a comparison of such performance with the performance of a peer group of corporations and/or partnerships, prior Company performance or other comparative measure 
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selected by the Committee before, at, or, subject to subsection (b) above, after the time of determining each Target Bonus (as defined in Section 6(a)) for the applicable Performance Period. Performance Metrics may be specified in absolute terms, on an adjusted basis, in percentages, or in terms of growth or reduction from period to period or growth or reduction rates over time, as well as measured relative to the performance of a group of comparator companies, or a published or special index, or a stock market index, that the Committee deems appropriate. Performance Metrics need not be based upon an increase or positive result under a business criterion and could include, for example, the maintenance of the status quo, the reduction of expenses or the limitation of economic losses (measured, in each case, by reference to a specific business criterion).  Performance Metrics may, but need not, be determinable in conformance with generally accepted accounting principles.

(e)     When the Performance Metrics are determined by the Committee, the weighting assigned to, and the levels of achievement (e.g., Threshold, Target, Maximum) for, if any, each Performance Metric shall be specified.  In addition, the Committee may specify that any determination of achievement of the Performance Metrics shall exclude or otherwise objectively adjust for any specified circumstance or event that occurs during the Performance Period, including, by way of example but without limitation, the following: (i) non-recurring, non-operational gains, losses and impairments; (ii) the effect of changes in tax laws, accounting principles or other laws or provisions; and (iii) acquisitions or divestitures.

Section 6. Target and Award Bonuses.

(a)Subject to Section 10(a), a Participant’s target bonus is calculated by multiplying the Participant’s Target Incentive Percentage by such Participant’s annualized base salary as of the first day of the applicable Performance Period (the “Target Bonus”).  

(b) A Participant’s award bonus (“Award Bonus”) is determined following the end of the applicable Performance Period.  Award Bonuses for each Performance Period are calculated by multiplying (i) the Participant’s Target Bonus by (ii) the payout factor attributable to the actual level of achievement for each Performance Metric.  

(c)The Committee shall have no discretion to increase any Award Bonus that would otherwise be payable based upon attainment of the Performance Metrics, but the Committee may in its discretion reduce or eliminate such Award Bonus (including in the event of the fatality of, or a serious injury to, a Company employee or contractor); provided, however, that the exercise of such negative discretion shall not be permitted to result in any 
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increase in the amount of any Award Bonus payable to any other Participant.  Notwithstanding the foregoing, the Committee shall have the discretion to designate an aggregate payment amount (a “Discretionary Pool”) that may be paid to any or all of the Participants in such amounts and to such Participants as determined by the CEO in his or her sole discretion; provided that, the Committee must approve any payment from the Discretionary Pool.  In the event any payments are made from a Discretionary Pool, the timing of such payments shall be in accordance with the provisions of Section 6(e) or, if applicable, Section 9(d).  For purposes of clarity, any payment to a Participant from the Discretionary Pool shall be in excess of the payment amount such Participant is entitled to based upon attainment of the Performance Goals under his or her award.  

(d)     The maximum aggregate Award Bonus payable to any Participant for any calendar year is $5,000,000.  

(e)     Except as provided in Section 7 of the Plan, Award Bonuses shall be paid in cash no later than 21⁄2 months after the end of a Performance Period in which the right to payment is no longer subject to a substantial risk of forfeiture; provided, further, that the Committee has determined and certified in writing the extent to which the Performance Metrics have been attained and the Award Bonuses have been earned.  

Section 7. Form of Payment. The Committee may, in its discretion, determine to satisfy, in whole or in part, an obligation for any Award Bonus by issuing, in substitution for a cash payment, in whole or in part, shares of Company common stock having a fair market value (measured as of the date of the Committee’s determination of the payment amount) equal to the cash payment, under and pursuant to the terms of the Equitrans Midstream Corporation 2018 Long-Term Incentive Plan, as amended, modified, and/or supplemented from time to time, or any successor, substitute, or replacement plan (the “LTIP”).

Section 8. Impact on Benefit Plans. Payments under the Plan shall not be considered as earnings for purposes of the Company’s qualified retirement plans or any such retirement or benefit plan unless specifically provided for and defined under such plans or as otherwise determined by the Committee.

Section 9. Tax Consequences.

(a)     It is intended that nothing in this Plan shall cause the Participants in the Plan to be taxed currently under the Constructive Receipt or Economic Benefit Doctrines and as expressed in Sections 451 and 83 of the Internal Revenue Code of 1986, as amended (the “Code”). The terms, 
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requirements and limitations of this Plan shall be interpreted and applied in a manner consistent with such intent.

(b)     It is intended that the Award Bonuses payable under the Plan shall either be exempt from the application of, or comply with, the requirements of Section 409A of the Code. The Plan shall be construed in a manner that effects such intent. Nevertheless, the tax treatment of the benefits provided under the Plan or any Award Bonus is not warranted or guaranteed. None of the Company, its affiliates and their respective directors, officers, employees or advisers shall be held liable for any taxes, interest, penalties or other monetary amounts owed by any Participant or other taxpayer as a result of the Plan or any Award Bonus.

(c)     Notwithstanding anything in the Plan to the contrary, to the extent that any Award Bonus would constitute non-exempt “deferred compensation” for purposes of Section 409A of the Code and would be payable or distributable under the Plan by reason of the occurrence of a Change of Control, or the Participant’s disability or separation from service, such amount or benefit will not be payable or distributable to the Participant by reason of such circumstance unless the circumstances giving rise to such Change of Control, disability or separation from service meet any description or definition of “change in control event”, “disability” or “separation from service”, as the case may be, in Section 409A of the Code and applicable regulations (without giving effect to any elective provisions that may be available under such definition). This provision does not prohibit the vesting of any Award Bonus upon a change of control, disability or separation from service, however defined. If this provision prevents the payment or distribution of any Award Bonus, such payment shall be made on the date that would have applied absent such designated event or circumstance.

(d)    Notwithstanding anything in the Plan to the contrary, to the extent that any Award Bonus would constitute non-exempt “deferred compensation” for purposes of Section 409A of the Code and would otherwise be payable under this Plan by reason of a Participant’s separation from service during a period in which the Participant is a Specified Employee (as defined below), then, subject to any permissible acceleration of payment by the Committee under Treas. Reg. Section 1.409A-3(j)(4)(ii) (domestic relations order), (j)(4)(iii) (conflicts of interest), or (j)(4)(vi) (payment of employment taxes): (i) the amount of such non-exempt deferred compensation that would otherwise be payable during the six-month period immediately following the Participant’s separation from service will be accumulated through and paid or provided on the first day of the seventh month following the Participant’s separation from service (or, if the Participant dies during such period, within 30 days after the 
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Participant’s death) (in either case, the “Required Delay Period”); and (ii) the normal payment or distribution schedule for any remaining payments or distributions will resume at the end of the Required Delay Period. For purposes of this Plan, the term “Specified Employee” has the meaning given such term in Code Section 409A and the final regulations thereunder, provided, however, that, as permitted in such final regulations, the Company’s Specified Employees and its application of the six-month delay rule of Code Section 409A(a)(2)(B)(i) shall be determined in accordance with rules adopted by the Board or any committee of the Board, which shall be applied consistently with respect to all nonqualified deferred compensation arrangements of the Company, including this Plan.

Section 10. Change of Status. In making decisions regarding executive officers’ participation in the Plan, the Committee may consider any factors that they may consider relevant. The following guidelines are provided as general guidelines regarding employee status changes: 

(a)     New Hire, Transfer, Promotion. Newly hired executive officers hired on or prior to September 30 during any Performance Period are eligible to participate in the Plan and earn a pro rata Award Bonus for such Performance Period.  Target Incentive Percentages for newly hired Participants are determined by the Committee.  Target Incentive Percentages and/or base salaries, as applicable, for employees who are promoted or transferred during a Performance Period may be adjusted to reflect the percentage that would be associated with the new position.  Target Incentive Percentages and/or base salaries, as applicable, for executive officers who experience a change in employment status during a Performance Period (e.g., due to a leave of absence, a change to part-time status, or other similar circumstances) may be adjusted to reflect such change in employment status.

(b)     Termination. No amount shall be paid to an executive officer who resigns for any reason before such executive officer’s Award Bonus is paid; provided, however, a pro rata Award Bonus may be paid based on actual performance as of the end of the Performance Period in the event of the executive officer’s termination of employment as a result of his or her death, disability, or retirement (as defined below); provided the executive officer otherwise qualifies for payment of an Award Bonus.  In the event that an Award Bonus is paid on behalf of an executive officer who has terminated employment by reason of death, any such payments or other amounts due shall be paid to the executive officer’s estate in accordance with the provisions of Section 6(e) or, if applicable, Section 9(d), but subject to the Committee’s overall discretion as provided in Section 6(c). In the event an Award Bonus is paid on behalf of an executive officer who has terminated by reason of disability or retirement, any amount earned 
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shall be paid to Participants on such pro-rata basis in accordance with the provisions of Section 6(e) or, if applicable, Section 9(d), but subject to the Committee’s overall discretion as provided in Section 6(c).

    For purposes of this Section 10(b), “retirement” means a Participant’s voluntary termination of employment with the Company and its subsidiaries after he or she has (i) a length of service of at least ten (10) years and (ii) a combined age and length of service equal to at least sixty (60) years.  A Participant’s length of service will be determined by the Company, in its sole discretion, based on the Company’s internal payroll records.  For purposes of this Section 10(b), service with EQT Corporation prior to November 13, 2018 shall be treated the same as service with the Company and its subsidiaries.  The termination of a Participant’s employment by the Company shall not qualify as retirement.

    For purposes of this Section 10(b), “disability” shall have the same meaning as under the LTIP.

Nothing in the Plan shall confer any right on any executive officer to continue in the employ of the Company or its affiliates. In the event any payments are made under the guidelines provided in this Section 10, the timing of such payments shall be in accordance with the provisions of Section 6(e) or, if applicable, Section 9(d).

Section 11. Change of Control. In the event of a Change of Control of the Company, as then defined under the LTIP, the Performance Period shall end on the date of the Change of Control, and the Performance Metrics shall be deemed to have been achieved at actual levels for the pro-rata portion of the Performance Period that elapsed through the date of the Change of Control. In such event, any Award Bonus earned shall be paid to Participants on such pro-rata basis in accordance with the provisions of Section 6(e) or, if applicable, Section 9(d), but subject to the Committee’s overall discretion as provided in Section 6(c).

Section 12. Compensation Recoupment Policy. Any Award Bonuses paid to Participants shall be subject to the terms and conditions of the Equitrans Midstream Corporation Compensation Recoupment Policy, effective June 17, 2019, as may be amended, modified, and/or supplemented from time to time and any successor, substitute, or replacement policy thereto.  In addition, the Committee may specify in an incentive award agreement that the Participant’s rights, payments and benefits with respect to an incentive award shall be subject to reduction, cancellation, forfeiture or recoupment upon the occurrence of certain specified events, in addition to any otherwise applicable vesting or performance conditions of an incentive award. 

Section 13. Dispute Resolution. Any dispute regarding the payment of benefits under the Plan shall be resolved in accordance with the Equitrans Midstream Corporation Short-Term Incentive Plan Dispute Resolution Procedures, effective February 17, 2021, 
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as may be amended or restated from time to time. A copy of any such procedures is available upon request from the Company’s Corporate Secretary and is available on the Benefits Portal of Fidelity Netbenefits, which can be found at www.netbenefits.com. 

Section 14. Amendment or Termination of this Plan. The Board and the Committee shall each have the right to amend or terminate the Plan at any time.  No Participant shall have any vested right, interest or entitlement to any Award Bonus hereunder prior to its payment. The Company shall notify affected Participants in writing of any material amendment that, in the Company’s discretion, may adversely affect the Participant or any Plan termination.

Section 15. Governing Law.  The validity, interpretation, construction and effect of the Plan and any rules and regulations relating to the Plan shall be governed by the laws of the Commonwealth of Pennsylvania (without regard to the conflicts of laws thereof), and applicable federal law.

Section 16. Withholding.  The Company or any of its affiliates shall have the authority and the right to deduct or withhold, or require a Participant to remit to the Company or such affiliate an amount sufficient to satisfy federal, state and local taxes (including the Participant’s FICA obligation) required by law to be withheld.

Section 17. Severability.  If any provision of the Plan is or becomes or is deemed invalid, illegal or unenforceable in any jurisdiction, or would disqualify the Plan under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to applicable laws.  If such provision cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan, it shall be deleted and the remainder of the Plan shall remain in full force and effect; provided, however, that, unless otherwise determined by the Committee, the provision shall not be construed or deemed amended or deleted with respect to any Participant whose rights and obligations under the Plan are not subject to the law of such jurisdiction or the law deemed applicable by the Committee.

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