Document:

Exhibit

April 5, 2016
James C. Grech
1007 Sheriff’s Court
McMurray, PA 15317
		
	Re:
	Agreement

Dear Jim:
This letter agreement (the “Agreement”), made as of the above date, hereby provides for the payment of certain benefits to you in recognition of your service as a key employee of CONSOL Energy Inc. (the “Company”). 
In connection with your departure from the Company, your employment with the Company will terminate effective as of April 7, 2016 (the “Retirement Date”).  In recognition of your service to the Company and in consideration of your execution of this Agreement and acceptance of the related obligations set forth herein, the Company hereby agrees to the following: 
		
	•
	Separation Payment. The Company is offering to pay you $200,900.00, minus applicable withholdings and deductions, which payment will be made in lump sum on the first available payroll date following your execution and return of this Agreement and the passage of the seven-day revocation period described below (the next calendar day following such seven-day revocation period being the “First Non-Revocation Date”), subject to the approval of the Compensation Committee of the Company’s Board of Directors (the “Compensation Committee”); and 

		
	•
	Equity Vesting (Outstanding Awards). On the First Non-Revocation Date, the restricted stock unit and performance share unit awards granted to you under the Company’s Equity Incentive Plan (as amended and restated, the “Plan”) and set forth on Exhibit A attached hereto, to the extent unvested, shall immediately vest and, in the case of the vested option awards granted to you under the Plan and set forth on Exhibit A, such awards shall continue to be exercisable for the remaining option terms as set forth in the related option award agreements, subject, in each case, to the approval of the Compensation Committee. 

If you are eligible to receive any further benefits under the Company’s plans in connection with your termination of employment with the Company, you will receive information under separate cover regarding such benefits.
All payments made hereunder shall be net of all legally required taxes and other withholdings. You shall be solely responsible for all taxes that result from your receipt of the payments and benefits to be provided under this Agreement and the Company does not make any representation, warranty or guarantee of any federal, state or local tax consequence to you as part of your receipt of any payment or benefit hereunder, including, but not limited to, under Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”).  Notwithstanding any provision to the contrary, all provisions of this Agreement shall be construed and interpreted to comply with Section 409A of the Code and if necessary, any provision shall be held null and void to the extent such provision (or part thereof) fails to comply with Section 409A of the Code or regulations thereunder. It is the intent of the parties that the severance benefits provided under this Agreement shall, to the maximum extent possible, qualify for the short term deferral exception, the separation pay plan exception or other applicable exception under Section 409A of the Code, so that none of the payments and benefits will result in adverse tax consequences, including tax penalties under Section 409A of the Code.  Any ambiguities in this Agreement will be interpreted to comply with this intent. Each severance benefit and each installment of a severance payment or benefit shall be deemed a separate payment under this Agreement. Notwithstanding any provision of this Agreement to the contrary, in no event shall the timing of your execution of this Agreement, directly or indirectly, result in your designating the calendar year of payment.    

James C. Grech
April 5, 2016
Page 2

This Agreement sets forth the entire agreement of the parties hereto in respect of the subject matter contained herein and supersedes all prior agreements, promises, covenants, arrangements, communications, representations or warranties, whether oral or written, by any officer, employee or representative of any party hereto in respect of the subject matter contained herein. You recognize and acknowledge that the Company does not have and will not have any obligation to provide you at any time in the future with any payments, benefits, bonus, or consideration other than as described and referred to in this Agreement.
By signing and not revoking this Agreement, you release CONSOL Energy Inc. and all of its affiliated companies (collectively, the “CONSOL Companies”) and all of their current and former directors, officers, agents, and employees, from any and all claims you have or might have against them as a result of events that occurred on or before the date this Agreement is executed by you, except for the rights described in the next paragraph. Your released claims include, without limitation, all claims relating in any way to your employment with the CONSOL Companies; the termination of your employment; and any cause of action or claim you have or might have for an alleged violation of any express or implied contract, or federal or state law, including (without limitation) the Employee Retirement Income Security Act of 1974, Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act of 1967 (“ADEA”), the Americans with Disabilities Act, the Family and Medical Leave Act, Sarbanes Oxley, the WARN Act, the Pennsylvania Human Relations Act (“PHRA”), the Pennsylvania Wage Payment and Collection Law, and any other state, federal or local law, rule or regulation. Your released claims also include any claim you have or might have for payment under the CONSOL Energy Inc. Severance Pay Plan for Salaried Employees. If any administrative agency or court assumes jurisdiction over any charge, complaint, proceeding or action involving claims released in this Agreement, you agree that you will not accept, recover, or receive any monetary damages or other relief from or in connection with that charge, complaint, or proceeding. You agree that if a court of competent jurisdiction determines that you are to be awarded damages under the WARN Act or any other federal or state law, those damages would be offset by an amount equal to payment under this Agreement minus $500.
You have certain rights that are not released by signing this Agreement. The foregoing release does not affect the following: any rights or claims that may arise after the date this Agreement is executed; your right to enforce the Company's obligations under this Agreement; any rights you may have to vested Company pension or retirement benefits to which you are entitled; your rights under any indemnification arrangement with the Company; your right to file a charge or complaint with any appropriate federal, state, or local agency, such as the United States Equal Employment Opportunity Commission; your right to participate in or cooperate with any such charge or complaint procedure; your right to challenge the validity of this Agreement as applied to claims under the ADEA; and any right that cannot be waived as a matter of law. Any other claim you have or might have is, however, released by this Agreement. Notwithstanding the foregoing, nothing in this Agreement restricts or prohibits you from reporting possible violations of law or regulation to any governmental agency or entity, including but not limited, to the Department of Justice, the Securities and Exchange Commission, the Congress, and any agency Inspector General, or from making other disclosures that are protected under state or federal law or regulation. You do not need the prior authorization of the Company to make such reports or disclosures. You are not required to notify the Company if you have made any such reports or disclosures.
If you have any questions regarding the scope of your release, including those rights that are not released, the Company advises you to address that subject with your own attorney before signing this Agreement. 
You represent that you are not a Medicare Beneficiary as of the time you enter into this Agreement.  To the extent that you are a Medicare Beneficiary, you agree to contact a Human Resources representative for further instruction.
Further, you acknowledge that this is an amicable arrangement and will be portrayed as such in all public statements, whether written or oral, by executive management of the Company, and by you. As such, executive management of the Company will not disparage you, and you will not disparage them or the Company. Additionally, you will cooperate with the Company in any future matters relating to your past employment. You 

James C. Grech
April 5, 2016
Page 3

agree to be reasonably available to the CONSOL Companies for the purpose of responding to requests for information, to provide information, documents, declarations or statements, to meet with attorneys and other Company representatives, to prepare for and give testimony by deposition or otherwise, and to cooperate in the investigation, defense or prosecution of matters relating to any threatened, present, or future legal actions, investigations or administrative proceedings involving the CONSOL Companies. The Company will advance or reimburse your reasonable costs incurred as a result of these obligations.
You acknowledge and warrant that: (a) the payments provided for by this Agreement exceed anything of value to which you otherwise would be entitled under any policy, plan, practice, or procedure of the Company; (b) no promises or inducements have been made to you except as expressly set forth in this Agreement, and you are not relying on any promises, inducements, representations, or statements not expressly set forth in this Agreement; (c) you are not waiving or releasing any claims that may arise after the date of your execution of this Agreement; (d) you have had the opportunity to review and consider, for twenty-one (21) days, the terms and provisions of this Agreement, although you are not prevented from executing this Agreement prior to the expiration of the twenty-one (21) day period (any modification to these proposed terms, which is not material, does not restart the running of the twenty-one (21) day period); (e) you have a period of seven (7) days following your execution of this Agreement to rescind and revoke this Agreement by sending a statement that you are revoking this Agreement, addressed and delivered to: Kurt Salvatori, Vice President – Human Resources, 1000 CONSOL Energy Drive, Canonsburg, PA, 15317, kurtsalvatori@consolenergy.com, (724) 485-4025; (f) you have been advised by the Company through this writing to consult with an attorney of your choosing prior to executing this Agreement; (g) you have carefully read this Agreement in its entirety and fully understand the significance and effect of all of the terms and provisions; and (h) you are signing this Agreement voluntarily and of your own free will and you assent to each and all of the terms and conditions contained in this Agreement.  
By signing below, you agree that as of the date you sign this Agreement, you have returned all property and information belonging to the CONSOL Companies in your possession or control, including but not limited to the following (where applicable):  vehicle; computer, phone, and handheld devices; keys, passwords, and/or access cards; and all records, customer lists, written information, forms, plans, and other documents, including electronically stored information.  You agree that you are not entitled to receive or retain the separation payments and other benefits set forth in this Agreement unless and until you return all information and property to the Company in compliance with this Agreement.

If this Agreement is not signed and returned by May 3, 2016, then this offer is revoked by the Company.  This Agreement must be delivered to Kurt Salvatori within the time specified herein in order to be effective.

If all of the above terms are agreeable to you, please sign the enclosed copy of this letter and return it to me for our files. Please direct any questions to Kurt Salvatori at (724) 485-4025. We appreciate your service to the Company, and wish you all the best in the future.
Very truly yours,

CONSOL ENERGY INC.

By:    /s/ Nicholas J. DeIuliis            
Nicholas J. DeIuliis 
                         President and Chief Executive Officer
April 28, 2016

AGREED AND ACCEPTED: 

/s/ James C. Grech        
James C. Grech
April 28, 2016

Exhibit A 
Certain Outstanding Equity Awards

 

	
				
	Award 
Year
	RSUs
	Options
	PSUs 
(at target)

	

2006
	-
	

2,174
	-

	

2007
	-
	

3,566
	-

	

2008
	-
	

1,437
	-

	

2009
	-
	

2,932
	-

	

2010
	-
	

2,826
	-

	

2011
	-
	

2,405
	-

	

2012
	-
	

4,258
	-

	

2013
	-
	-
	-

	2014
	 
19,454
	-
	8,925

	2015
	13,562
	-
	24,698Exhibit

Exhibit 10.1

CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
NON-EMPLOYEE DIRECTORS DEFERRAL PLAN 

Purpose.  The purpose of the Charles River Laboratories International, Inc. Non-Employee Directors Deferral Plan (the “Plan”) is to retain the services of experienced non-employee directors for Charles River Laboratories International, Inc. (the “Company”) by providing them with opportunities to defer income taxes on their compensation and to encourage them to acquire additional shares of the Company’s common stock (“Stock”).  This Plan is established in connection with the Charles River Laboratories International, Inc. 2016 Incentive Plan (the “Incentive Plan”).  
Section 2.    Definitions.  Unless otherwise defined in the Plan, capitalized terms used in the Plan shall have the meanings assigned to them in the Incentive Plan.
Section 3.    Eligibility.  Each director of the Company who is eligible to receive compensation as a non-employee director shall be eligible to participate in the Plan. Each such eligible non-employee director who makes a deferral under the Plan is referred to herein as a “Participant”.
Section 4.    Administration.  The Plan shall be administered by the Board of Directors of the Company (the “Board”). Subject to the terms of the Plan and applicable law, the Board shall have full power and authority to: (i) designate Participants; (ii) determine the terms and conditions of any deferral made under the Plan; (iii) interpret and administer the Plan and any instrument or agreement relating to, or deferral made under, the Plan; (iv) establish, amend, suspend or waive such rules and regulations and appoint such agents as it shall deem appropriate for the proper administration of the Plan; and (v) make any other determination and take any other action that the Board deems necessary or desirable for the administration of the Plan.  To the extent legally permitted, the Board may, in its discretion, delegate to the Chief Administrative Officer of the Company, the Secretary of the Company, or to one or more senior officers of the Company any or all authority and responsibility to act with respect to administrative matters with respect to the Plan.  The determination of the Board on all matters within its authority relating to the Plan shall be final, conclusive and binding upon all parties, including the Company, its shareholders and the Participants.
Section 5.    Deferrals. 
		
	(a)
	Deferral Elections. Each Participant may elect to defer receipt of all or any shares of Stock issuable upon settlement of any restricted stock units (a “RSU”) granted to such Participant pursuant to Section 4(d) of the Incentive Plan (a “Deferred Stock Unit” or “DSU”), which shall include, for the avoidance of doubt, RSUs granted to such Participant in lieu of his or her annual cash retainer for services as a member of the Board or a committee of the Board or chair or lead director of the Board (the “Retainer”).  The date on which any such shares of Stock were scheduled to be issued to such Participant, had such Participant not deferred receipt of such shares of Stock, is referred to herein as the “Scheduled Payment Date”. 

		
	(b)
	Election Forms. A Participant’s deferral election shall be made in the form of a document (an “Election Form”) established for such purpose by the Board that is executed by such Participant and filed with the Chief Administrative Officer of the Company. The Election Form will require such Participant to specify: 

		
	(i)
	the portion of any shares of Stock issuable upon conversion of any RSU that will be deferred; 

and 
		
	(ii)
	the time at which the deferred shares of Stock will be distributed to such Participant , which time may be (x) a specified date, (y) the 60th day following such Participant’s separation from service as a director of the Company or (z) the earlier of (x) or (y). 

Each Election Form will remain in effect until superseded or revoked pursuant to this Section 5. 
		
	(c)
	Timing of Elections. 

		
	(i)
	Subject to Section 5(c)(ii), an Election Form executed by a Participant shall apply to any RSU that is granted to such Participant at any time following the end of the calendar year in which such Election Form is executed. 

		
	(ii)
	An Election Form filed by a Participant within 30 days after such Participant becomes eligible to participate in the Plan shall apply to any RSU that is granted to such Participant or relates to services performed following the date 

1
    

Exhibit 10.1

on which such Participant executes such Election Form, including, without limitation, any RSU paid in connection with such Participant’s initial election as a non-employee director of the Company. 
		
	(iii)
	A person who is eligible to receive compensation as a non-employee director on the Effective Date (as defined in Section 11 hereof) and who files an Election Form within 30 days of the Effective Date may elect to defer any RSU that is granted to such Participant or relates to services performed following the date on which such Participant executes such Election Form. 

		
	(d)
	Subsequent Election Forms. A Participant who has an Election Form on file with the Company may execute and file with the Company a subsequent Election Form at any time. Such subsequent Election Form shall apply to any RSU that is granted to such Participant following the end of the year in which such subsequent Election Form is executed. 

		
	(e)
	Revoking Election Forms. A Participant may revoke an Election Form at any time by providing written notice to the Board. Such revocation shall apply to any RSU that is granted to such Participant following the year in which such notice is provided. 

		
	(f)
	Vesting. Each Deferred Stock Unit shall be fully vested and non-forfeitable at all times from the applicable Scheduled Payment Date. 

Section 6.    Timing and Form of Distribution. 
		
	(a)
	Subject to this Section 6, distribution with respect to a Participant’s Deferred Stock Unit shall be made to such Participant, as specified on the applicable Election Form, either in (i) a single lump sum or (ii) substantially equal annual installments over a period of up to five years. 

		
	(b)
	The Board, in its sole discretion, may accelerate the distribution of a Participant’s Deferred Stock Unit or if such Participant experiences an unforeseeable emergency or hardship, provided that such distribution complies with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). 

		
	(c)
	All of a Participant’s Deferred Stock Units shall be distributed to such Participant upon a Covered Transaction or such Participant’s death or Disability no later than the 15th day of the third calendar month following the date the Covered Transaction or death or Disability occurs. 

		
	(d)
	If the Board considers a Participant to be one of the Company’s “specified employees” under Section 409A of the Code at the time of such Participant’s termination of service from the Board, any distribution that otherwise would be made to such Participant as a result of such termination from service shall not be made until the date that is six months after such termination of service, except to the extent that earlier distribution would not result in such Participant’s incurring interest or additional tax under Section 409A of the Code. 

		
	(e)
	Each Deferred Stock Unit shall be distributed in shares of Stock.  

Section 7.    Amount of Distribution. 
		
	(a)
	Each Deferred Stock Unit that is scheduled to be distributed in shares of Stock shall be allocated to a separate bookkeeping account (a “Share Account”) established and maintained by the Administrator, or the Administrator’s designee, to record the number of shares of Stock to which such Deferred Stock Unit relates. In the case of a Deferred Stock Unit, the Share Account shall reflect the number of shares of Stock deferred. 

		
	(b)
	Until the distribution date applicable to a Participant’s Deferred Stock Unit that is scheduled to be distributed in shares of Stock, if the Company pays a regular or ordinary cash dividend on its Stock, the Share Account shall be credited with a number of shares of Stock determined by dividing the amount of the cash dividend by the fair market value of a share of Stock on the dividend payment date, with the value of any fractional shares paid to the Participant in cash as soon as practicable following the dividend payment date. 

		
	(c)
	In the event of any merger, reorganization, recapitalization, consolidation, sale or other distribution of substantially all of the assets of the Company, any stock dividend, split, spin-off, split-up, split-off, distribution of cash, securities or other property by the Company, or other change in the Company’s corporate structure affecting the Stock, each Share 

2
    

Exhibit 10.1

Account shall be automatically adjusted to prevent dilution or enlargement of the benefits or potential benefits intended to be awarded under this Plan. 
		
	(d)
	On the distribution date applicable to a Participant’s Deferred Stock Unit, such Participant shall receive that number of shares of Stock equal to the number of shares credited to the applicable Share Account as of such distribution date. 

Section 8.    General Provisions Applicable to Deferrals. 
		
	(a)
	Except as may be permitted by the Board, (i) no deferral and no right under such deferral shall be assignable, alienable, saleable or transferable by a Participant otherwise than by will or pursuant to Section 8(b), and (ii) during a Participant’s lifetime, each deferral, and each right under such deferral, shall be exercisable only by such Participant or, if permissible under applicable law, by such Participant’s guardian or legal representative. The provisions of this Section 8(a) shall not apply to any deferral that has been distributed to a Participant. 

		
	(b)
	A Participant may make a written designation of beneficiary or beneficiaries to receive all or part of the distributions under this Plan in the event of death at such times prescribed by the Board by using forms and following procedures approved or accepted by the Board for that purpose. Any shares of Stock that become payable upon a Participant’s death, and as to which a designation of beneficiary is not in effect, will be distributed to such Participant’s estate. 

		
	(c)
	Following distribution of shares of Stock, a Participant will be the beneficial owner of the net shares of Stock issued to such Participant, and will be entitled to all rights of ownership, including voting rights and the right to receive cash or stock dividends or other distributions paid on the Stock. The Company may, if it determines it is appropriate, affix any legend to the stock certificates representing shares of Stock issued in accordance with the Plan (and any stock certificates that may subsequently be issued in substitution for the original certificates). The Company may advise the transfer agent to place a stop order against such shares of Stock if it determines that such an order is necessary or advisable. 

Section 9.    Amendments and Termination. 
		
	(a)
	The Board, in its sole discretion, may amend, suspend or discontinue the Plan or any deferral at any time; provided that no such amendment, suspension or discontinuance shall reduce the accrued benefit of any Participant except to the extent necessary to comply with applicable law. The Board further has the right, without a Participant’s consent, to amend or modify the terms of the Plan and such Participant’s deferral to the extent that the Board deems it necessary to avoid adverse or unintended tax consequences to such Participant under federal, state or local income tax laws. 

		
	(b)
	The Board, in its sole discretion, may terminate the Plan at any time, as long as such termination complies with then applicable tax and other requirements. 

		
	(c)
	Such other changes to deferrals shall be permitted and honored under the Plan to the extent authorized by the Board and consistent with Code Section 409A. 

Section 10.    Miscellaneous. 
		
	(a)
	No Participant or other person shall have any claim to be entitled to make a deferral under the Plan, and there is no obligation for uniformity of treatment of Participants or beneficiaries under the Plan. The terms and conditions of deferrals under the Plan need not be the same with respect to each Participant. 

		
	(b)
	The opportunity to make a deferral under the Plan shall not be construed as giving a Participant the right to be retained in the service of the Board or the Company. A Participant’s deferral under the Plan is not intended to confer any rights on such Participant except as set forth in the Plan and the applicable Election Form. 

		
	(c)
	Nothing contained in the Plan shall prevent the Company from adopting or continuing in effect other or additional compensation arrangements, and such arrangements may be either generally applicable or applicable only in specific cases. 

		
	(d)
	To the extent applicable, the Company shall be authorized to withhold from any distribution under the Plan or from any compensation or other amount owing to a Participant the amount (in cash, shares of Stock, other property, net settlement, or any combination thereof) of applicable withholding taxes due in respect of such distribution and to take 

3
    

Exhibit 10.1

such other action (including providing for elective payment of such amounts in cash or shares of Stock by such Participant) as may be necessary in the opinion of the Company to satisfy all obligations for the payment of such taxes. 
		
	(e)
	If any provision of the Plan or any Election Form is or becomes or is deemed to be invalid, illegal or unenforceable in any jurisdiction, or as to any person or deferral, or would disqualify the Plan or any deferral under any law deemed applicable by the Board, such provision shall be construed or deemed amended to conform to applicable laws, or if it cannot be so construed or deemed amended without, in the determination of the Board, materially altering the intent of the Plan or such Election Form, such provision shall be stricken as to such jurisdiction, person or deferral, and the remainder of the Plan and such Election Form shall remain in full force and effect. 

Section 11.    Effective Date of the Plan.  The Plan shall be effective as of the date on which the Plan is adopted by the Board (the “Effective Date”).
Section 12.    Unfunded Status of the Plan.  The Plan is unfunded.  The Plan, together with the applicable Election Form, shall represent at all times an unfunded and unsecured contractual obligation of the Company. Each Participant and beneficiary will be an unsecured creditor of the Company with respect to all obligations owed to them under the Plan. Amounts payable under the Plan will be satisfied solely out of the general assets of the Company subject to the claims of its creditors. No Participant or beneficiary will have any interest in any fund or in any specific asset of the Company of any kind, nor shall such Participant or beneficiary or any other person have any right to receive any payment or distribution under the Plan except as, and to the extent, expressly provided in the Plan and the applicable Election Form. Any reserve or other asset that the Company may establish or acquire to assure itself of the funds to provide payments required under the Plan shall not serve in any way as security to any Participant or beneficiary for the Company’s performance under the Plan.
Section 13.    Section 409A of the Code.  With respect to deferrals that are subject to Section 409A of the Code, the Plan is intended to comply with the requirements of Section 409A of the Code, and the provisions of the Plan and any Election Form shall be interpreted in a manner that satisfies the requirements of Section 409A of the Code, and the Plan shall be operated accordingly. If any provision of the Plan or any term or condition of any Election Form would otherwise frustrate or conflict with this intent, the provision, term or condition will be interpreted and deemed amended so as to avoid this conflict.
Section 14.    Governing Law.  The Plan and the Election Forms shall be governed by the laws of the State of Delaware without reference to principles of conflicts of laws.

4

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