Document:

QEP Resources, Inc. Executive Severance Compensation Plan

 Exhibit 10.10 

QEP RESOURCES, INC. 

EXECUTIVE SEVERANCE COMPENSATION PLAN 

 QEP RESOURCES, INC. 

EXECUTIVE SEVERANCE COMPENSATION PLAN 

ARTICLE I 

INTRODUCTION 

The Board of Directors of QEP Resources, Inc. recognizes that, as is the case with many publicly held corporations, the possibility of a
Change in Control exists. This possibility, and the uncertainty it creates with executives, may be detrimental to the Company and its shareholders if executives are distracted and/or leave the Company. 

The Board considers the avoidance of such loss and distraction to be essential to protecting and enhancing the best interests of the
Company and its shareholders. The Board also believes that when a Change in Control is perceived as imminent, or is occurring, the Board should be able to receive and rely on disinterested service from executive employees regarding the best
interests of the Company and its shareholders without concern that the executive employees might be distracted or concerned by their personal uncertainties and risks created by the perception of an imminent or occurring Change in Control.

 In addition, the Board believes that it is consistent with the Company’s employment practices and policies and in the
best interests of the Company and its shareholders to treat fairly its executive employees whose employment terminates in connection with or following a Change in Control. 

Accordingly, the Board has determined that appropriate steps should be taken to assure the Company and its Affiliates of the executive
employees’ continued employment and attention and dedication to duty, and to seek to ensure the availability of their continued service, notwithstanding the possibility, threat or occurrence of a Change in Control. 

In order to fulfill the above purposes, the Board hereby adopts this QEP Resources, Inc. Executive Severance Compensation Plan, as may be
amended from time to time, effective as of the Effective Date, as set forth below. 
 ARTICLE II 

ESTABLISHMENT OF PLAN 

As of the Effective Date, the Company hereby adopts its separation compensation plan known as the QEP Resources, Inc. Executive Severance
Compensation Plan, as set forth in this document. 
  

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 ARTICLE III 

DEFINITIONS 

As used herein, the following words and phrases shall have the following respective meanings unless the context clearly indicates
otherwise. 
 (a) Affiliate. The Company and any entity that is treated as the same employer as the Company under
Sections 414(b), (c), (m), or (o) of the Code, any entity required to be aggregated with the Company pursuant to regulations adopted under Section 409A of the Code, or any entity otherwise designated as an Affiliate by the Company.

 (b) Annual Cash Incentive Plans. Any annual cash incentive plan, program or arrangement offered by an Employer.

 (c) Annual Base Salary. The Participant’s gross annual base salary in effect immediately prior to the Change in
Control. 
 (d) Average Annual Bonus Amount. The higher of: (i) the average of the annual bonuses a Participant
actually received under the Annual Cash Incentive Plans, including, with respect to any Transferred Participant under any annual cash incentive plan, program, or arrangement offered by Questar prior to the Effective Date, for the Look-Back Period;
or (ii) the average annual target bonuses established for the Participant under the Company’s Annual Cash Incentive Plans, including, with respect to any Transferred Participant under any annual cash incentive plan, program, or arrangement
offered by Questar prior to the Effective Date, for the Look-Back Period. In the event a Participant’s Date of Termination occurs prior to payment of the annual bonus under the Annual Cash Incentive Plans for the most recently completed fiscal
year, the amount actually received for such year for purposes of (i) above shall be deemed to be the target bonus amount established for the Participant under the Annual Cash Incentive Plans for such year. 

(e) Board. The Board of Directors of the Company. 

(f) Cause. Cause shall mean: (i) the willful and continued failure of the Participant to perform substantially the
Participant’s duties with an Employer (other than any such failure resulting from incapacity due to physical or mental illness), following written demand for substantial performance delivered to the Participant by the Board or the Chief
Executive Officer of the Company; or (ii) the willful engaging by the Participant in conduct which is materially injurious to an Employer. For purposes of this definition, no act or failure to act on the part of the Participant shall be
considered “willful” unless it is done, or omitted to be done, by the Participant without reasonable belief that the Participant’s action or omission was in the best interests of an Employer. The Company, acting through its Board of
Directors, must notify the Participant in writing that the Participant’s employment is being terminated for “Cause”. The notice shall include a list of the factual findings used to sustain the judgment that the Participant’s
employment has been terminated for “Cause”. 
 (g) Change in Control. A Change in Control of the Company shall
be deemed to have occurred if (i) any individual, entity, or group(within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934 (the “Exchange Act”)) other than a trustee or

  

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other fiduciary holding securities under an employee benefit plan of the Company, is or becomes the beneficial owner (as such term is used in Rule 13d-3 under the Exchange Act) of securities of
the Company representing 25 percent or more of the combined voting power of the Company; or (ii) the following individuals cease for any reason to constitute a majority of the number of directors then serving: individuals who, as of the
Effective Date, constitute the Company’s Board of Directors and any new director (other than a director whose initial assumption of office is in connection with an actual or threatened election contest, including but not limited to a consent
solicitation, relating to the election of directors of the Company) whose appointment or election by the Board or nomination for election by the Company’s stockholders was approved or recommended by a vote of at least two-thirds of the
directors then still in office who either were directors on the Effective Date, or whose appointment, election or nomination for election was previously so approved or recommended; or (iii) the consummation of a merger or consolidation of the
Company or any direct or indirect subsidiary of the Company with any corporation, other than a merger or consolidation that would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation continuing
to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or any parent thereof) at least 60 percent of the combined voting power of the securities of the Company or such surviving entity or
its parent outstanding immediately after such merger or consolidation, or a merger or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no person is or becomes the beneficial owner, directly or
indirectly, of securities of the Company representing 25 percent or more of the combined voting power of the Company’s then outstanding securities; or (iv) the Company’s stockholders approve a plan of complete liquidation or
dissolution of the Company or there is consummated the sale or disposition by the Company of all or substantially all of the Company’s assets, other than a sale or disposition by the Company of all or substantially all of the Company’s
assets to an entity, at least 60 percent of the combined voting power of the voting securities of which are owned by the stockholders of the Company in substantially the same proportions as their ownership of the Company immediately prior to such
sale. In addition, if a Change in Control constitutes a payment event with respect to any payment under the Plan which provides for the deferral of compensation and is subject to Section 409A of the Code, the transaction or event described in
clauses (i), (ii), (iii) and (iv) with respect to such payment must also constitute a “change in control event,” as defined in Treasury Regulation Section 1.409A-3(i)(5) to the extent required by Section 409A of the
Code. 
 (h) Code. The Internal Revenue Code of 1986, as amended from time to time. 

(i) Company. QEP Resources, Inc. and any successor to such entity. 

(j) Compensation. For purposes of this Plan, “Compensation” means (i) with respect to any Participant who
participates in the Retirement Plan, such Participant’s remuneration taken into account for purposes of calculating the retirement benefit thereunder, and, (ii) with respect to any Participant who participates in the SERP, such
Participant’s remuneration taken into account for purposes of calculating the retirement benefit thereunder. 
 (k) Date
of Termination. The date on which a Participant ceases to be an Employee of an Employer as a result of a Separation from Service. 

(l) Disability. A condition that renders a Participant unable to engage in any

  

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substantial, gainful activity by reason of any medically-determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of
not less than twelve months. The foregoing definition of “Disability” shall be interpreted in a manner consistent with Section 409A of the Code and the Internal Revenue Service and Treasury guidance thereunder. 

(m) Eligible Employee. Any officer of any Employer. 

(n) Employee Matters Agreement. That certain Employee Matters Agreement, by and between Questar Corporation and the Company, dated
as of June 14, 2010. 
 (o) Employer. The Company or any Affiliate which participates in the Plan pursuant to
Article IX hereof. 
 (p) ERISA. The Employee Retirement Income Security Act of 1974, as amended from time to time.

 (q) Good Reason. Good Reason, with respect to a Participant’s termination of employment, means any of the
following events or conditions which occur without the Participant’s written consent, and which remain in effect after notice has been provided by the Participant to the Company of such material reduction and the expiration of a 30 day cure
period: (i) a material diminution in the Participant’s base compensation; (ii) a material diminution in the Participant’s authority, duties, or responsibility; (iii) a material diminution in the authority, duties, or
responsibilities of the supervisor to whom the Participant is required to report, including a requirement that a Participant report to a corporate officer or employee instead of reporting directly to the Board; (iv) a material diminution in the
budget over which the Participant retains authority; (v) a material change in the geographic location at which the Participant performs services; or (vi) any other action or inaction that constitutes a material breach by an Employer of the
Participant’s employment agreement (if any). The Participant’s notification to the Company must be in writing and must occur within a reasonable period of time, not to exceed 90 days, following the Participant’s discovery of the
relevant event or condition. 
 (r) Long-Term Cash Incentive Plan. The Company’s Long-Term Cash Incentive Plan, as
may be amended from time to time, or any successor or replacement multi-year cash incentive plan(s) or arrangement(s). 
 (s)
Look-Back Period. The last three full fiscal years immediately prior to the Change in Control, or such shorter number of full fiscal years that the Participant was actually employed by an Employer, including, with respect to any Transferred
Participant, any such period during which the Transferred Participant was actually employed by Questar. 
 (t)
Participant. An individual who is designated as such pursuant to Section 4.1. 
 (u) Plan. The QEP Resources,
Inc. Executive Severance Compensation Plan, as set forth in this document. 
  

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 (v) Plan Administrator. The Compensation Committee of the Board. 

(w) Questar. Questar Corporation, a Utah corporation, and any of its Affiliates (as defined in the Questar Corporation Executive
Severance Compensation Plan, as amended and restated effective October 23, 2007). 
 (x) Retirement Plan. The QEP
Resources, Inc. Retirement Plan, as amended or restated from time to time, or any successor plan. 
 (y) Separation
Benefits. The benefits described in Article VI that are provided to qualifying Participants under the Plan. 
 (z)
Separation from Service. A “separation from service” within the meaning of Section 409A(a)(2)(A)(i) of the Code and Treasury Regulation Section 1.409A-1(h). 

(aa) SERP. The QEP Resources, Inc. Supplemental Executive Retirement Plan, as amended or restated from time to time, or any
successor plan. 
 (bb) Target Long Term Bonus Amount. The single target bonus established for the Participant under the
Company’s Long Term Cash Incentive Plan for the performance period beginning in the year in which the Date of Termination occurs. In the event the Participant’s Date of Termination occurs prior to the establishment of the
Participant’s target bonus for the performance period beginning in the year in which the Date of Termination occurs, the Target Long Term Bonus Amount shall be the single target bonus established for the Participant under the Company’s
Long Term Cash Incentive Plan for the performance period beginning in the year immediately preceding the year in which the Date of Termination occurs. 

(cc) Transferred Participant. A Participant who is a “QEP Employee” (as such term is defined in the Employee Matters
Agreement). 
 ARTICLE IV 

ELIGIBILITY 

4.1 Participation. The Board shall, in its sole discretion, select from the group of Eligible Employees those individuals who may
participate in the Plan. Any Eligible Employee selected for participation shall become a Participant upon written notification by the Board (or its designee) to such Eligible Employee of his or her participation in the Plan. 

4.2 Duration of Participation. 

(a) Prior to the occurrence of a Change in Control, a Participant shall continue to participate in the Plan at the sole discretion of the
Board, which may terminate the individual’s participation in the Plan at any time, and for any reason. A Participant shall automatically cease participation in the Plan when he ceases to be an Eligible Employee of any Employer prior to a Change
in Control. 
 (b) On and after a Change in Control, a Participant shall cease to be a Participant in the Plan if he ceases to
be an Eligible Employee of any Employer and is not entitled to payment of a Separation Benefit or any other benefits under the Plan (such as the 

 

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special tax payment). A Participant entitled to payment of a Separation Benefit or any other amounts under the Plan shall remain a Participant in the Plan until the full amount of the Separation
Benefit and any other amounts payable under the Plan have been paid. 
 ARTICLE V 

ENTITLEMENT TO BENEFITS 

5.1 Terminations of Employment Which Give Rise to Separation Benefits Under This Plan. A Participant shall be entitled to
Separation Benefits as set forth in Article VI below if, at any time following a Change in Control and prior to the third anniversary of the Change in Control, the Participant incurs a Separation from Service from an Employer that is
(a) initiated by the Participant’s Employer for any reason other than Cause, death, or Disability, or (b) initiated by the Participant for Good Reason within 60 days following the expiration of the cure period afforded the Company to
rectify the condition giving rise to Good Reason. 
 5.2 Eligibility for Equity Incentive Benefits and Special Tax
Payments. All Participants at the time of a Change in Control shall be eligible to receive the equity incentive benefits provided in Article VII and the special tax payments set forth in Article VIII. 

ARTICLE VI 

SEPARATION BENEFITS 

6.1 Separation Benefits; General. If a Participant’s employment is terminated in circumstances entitling the participant to
Separation Benefits pursuant to Section 5.1, the Company shall provide to such Participant the cash payment set forth in Section 6.2 below, the pro-rata bonuses set forth in Section 6.3 below, the enhanced retirement benefits set
forth in Section 6.4 below, the continued welfare benefits as set forth in Section 6.5 below, and the stock option and stock appreciation right benefits set forth in Section 6.6 below. 

6.2 Cash Severance. Participants shall be eligible for cash severance equal to the aggregate of the following amounts: 

(a) an amount equal to two (2) times the Participant’s Annual Base Salary; and 

(b) an amount equal to two (2) times the Participant’s Average Annual Bonus Amount; and 

(c) an amount equal to two (2) times the Participant’s Target Long-Term Bonus Amount. 

All cash payments required by this Section 6.2 shall be paid within 10 calendar days of the Participant’s Date of Termination;
subject, however, to any payment delay required by Section 6.8(b). 
 6.3 Pro-Rata Bonus Amounts. Participants shall
be eligible for a cash payment equal to the aggregate of the following pro-rata bonus amounts: 
 (a) a bonus equal to the
product of (i) the bonus the Participant would have 
  

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received under the Annual Cash Incentive Plans for the year in which the Date of Termination occurs, multiplied by (ii) a fraction, the numerator of which is the number of months (rounded up
to whole months) the Participant was employed during the year in which the Date of Termination occurs, and the denominator of which is 12. In the event the Date of Termination occurs prior to the establishment of a bonus amount under the Annual Cash
Incentive Plans for the year in which the Date of Termination occurs, then, solely for purposes of this Section 6.3(a), the Date of Termination shall be deemed to be December 31st of the immediately preceding year. 

(b) for each of the performance periods outstanding under the Long Term Cash Incentive Plan as of the Date of Termination, a bonus
equal to the product of (i) the greater of (A) the target bonus established for the Participant under the Long Term Incentive Plan for such performance period, or (B) the actual bonus that would have been earned by the Participant
under the Long Term Incentive Plan for such performance period, multiplied by (ii) a fraction, the numerator of which is the number of months the Participant was employed during the performance period (rounded up to whole months), and the
denominator of which is the total number of months in the performance period. Solely for purposes of determining which performance periods are taken into account for purposes of the preceding sentence, (i) a performance period shall be deemed
to be outstanding if payment has yet to occur for such period as of the Date of Termination, even if the actual performance period (i.e. the period over which performance is measured) has already ended, and (ii) a performance period shall not
be deemed to be outstanding if a target bonus has yet to be established for such period as of the Date of Termination. 
 All
cash payments required by this Section 6.3 shall be paid in a single lump sum within 60 days following the end of the year in which the Date of Termination occurs; subject, however, to any payment delay required by Section 6.8(b).

 6.4 Enhanced Retirement Benefits. Participants shall be entitled to an enhanced retirement benefit under the
Retirement Plan and/or the SERP, to the extent that the Participant is a participant in such plan(s) as of the Date of Termination, as follows: 

(a) Vested Participants. Participants who have an accrued vested benefit under either the Retirement Plan or both the Retirement
Plan and the SERP as of the Date of Termination shall be entitled to an enhanced retirement benefit under this Plan in an amount equal to the excess of (i) the benefit accrued under the Retirement Plan and the SERP (if participating) as of the
Date of Termination calculated as if (A) the Participant had been credited with two additional years of benefit service under the Retirement Plan and the SERP (if participating) as of the Date of Termination, and (B) the Participant’s
Compensation under the Retirement Plan and the SERP (if participating) for each additional year of such service had been equal to the Participant’s Compensation for the last full fiscal year prior to the Date of Termination, over (ii) the
actual benefit accrued under the Retirement Plan and the SERP (if participating) as of the Date of Termination. 
 (b)
Non-Vested Participants. Participants who have an accrued unvested benefit under the Retirement Plan as of the Date of Termination shall be entitled to an enhanced retirement benefit under this Plan in an amount equal to what would be the
Participant’s accrued vested benefit (if any) under the Retirement Plan and the SERP (if participating) as of the Date of Termination calculated as if (i) the Participant had been credited with two additional years of

  

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vesting and benefit service under the Retirement Plan and the SERP (if participating) as of the Date of Termination, and (ii) the Participant’s Compensation under the Retirement Plan
and the SERP (if participating) for each additional year of such service had been equal to the Participant’s Compensation for the last full fiscal year prior to the Date of Termination. 

(c) Transferred QEP SERP Participants. Notwithstanding the foregoing, any Participant who is a “Transferred QEP SERP
Participant” (as defined in the SERP) and has an accrued vested benefit under the SERP as of the Date of Termination shall only be entitled to an enhanced retirement benefit under the SERP in an amount equal to the benefit accrued under the
SERP as of the Date of Termination calculated as if (i) the Participant had been credited with two additional years of benefit service under the SERP as of the Date of Termination, and (ii) the Participant’s Compensation under the
SERP for each additional year of such service had been equal to the Participant’s Compensation for the last full fiscal year prior to the Date of Termination. 

(d) Payment of Enhanced Retirement Benefits. Any enhanced retirement benefit to which a Participant may be entitled under
paragraph (a), (b) or (c) above shall be paid in a single lump sum within 30 calendar days of the Date of Termination; subject, however, to any payment delay required by Section 6.8(b). The lump sum payment shall be equal to
(i) the present value of the applicable enhanced retirement benefit on the Date of Termination, calculated using a standard mortality table referred to as the 1983 Group Annuity Mortality table and an interest rate equal to 80% of the average
of the IRS 30-year Treasury Securities Rates for the six-month period preceding the participant’s retirement, plus (ii) interest on such amount, credited monthly from the Date of Termination through the date of payment (taking into
account any delay required by Section 6.8(b)), using the appropriate 30-year Treasury bond quoted in the Wall Street Journal on the first business day of each month. The appropriate 30-year Treasury bond shall be the bond that has the closest
maturity date (by month) preceding the month on which interest is to be credited. 
 (e) Ineligible to Participate in
Retirement Plan. In no event shall a Participant be entitled to any benefit under this Section 6.4 if he or she is not a participant in the Retirement Plan and/or the SERP as of the Date of Termination. 

6.5 Continued Welfare Benefits. For six (6) months following the Participant’s Date of Termination, the Participant and
his or her family shall be provided without cost medical, dental, disability, accidental death and dismemberment, and life insurance benefits that are the same as, or substantially similar to, the benefits that would have been received during such
period had the Participant’s employment not been terminated. Some or all of the benefits required by this Section may be provided through the payment or reimbursement of premiums incurred for similar coverage procured by the Company on the
Participant’s behalf or by the Participant, through the payment of COBRA premiums, or pursuant to the terms and conditions of the Company’s retiree health insurance program, if applicable, in each case as determined by the Company in its
sole discretion and subject to Sections 6.8 and 12.8 below. 
 6.6 Stock Option and Stock Appreciation Right Benefits.
Notwithstanding any shorter period to the contrary in any agreement between a Participant and the Company evidencing a grant of stock options or stock appreciation rights, the Participant shall have a minimum of one year following the Date of
Termination in which to exercise any vested stock 
  

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options and stock appreciation outstanding as of the Change in Control. Nothing in this Section 6.6, however, shall require the Company to continue in effect any stock option or stock
appreciation right following a Change in Control, if, pursuant to the terms of the Change in Control, the Participant will receive automatically (on or within a reasonable time following the Change in Control), in cash or marketable securities, the
intrinsic value of such awards as of the date of the Change in Control. 
 6.7 Other Benefits Payable. To the extent not
theretofore paid or provided, the Company shall timely pay or provide (or cause to be paid or provided) to a Participant entitled to Separation Benefits, any other amounts or benefits required to be paid or provided to the Participant or which the
Participant is eligible to receive under any plan, program, policy or practice or contract or agreement of an Employer. Thus, by way of example and not by way of limitation, benefits earned under the QEP Resources, Inc. Deferred Compensation Wrap
Plan, as may be amended from time to time, or the SERP shall be unaffected by a Participant’s receipt of benefits hereunder, and shall continue to be payable solely in accordance with the relevant terms of those plans. Notwithstanding the
foregoing, if a Participant is entitled to Separation Benefits under this Plan and is also entitled to severance benefits under any employment agreement or other severance pay plan or policy of the Company, benefits from this Plan will be offset by
the amount of the severance benefits or similar amounts received under or payable in accordance with such other agreements, plans, or policies. In addition, Separation Benefits under this Plan shall also be reduced by any amounts that are paid under
the Annual Cash Incentive Plans or Long Term Cash Incentive Plan which are contingent on the Participant’s termination of employment following a Change in Control. 

6.8 Code Section 409A; Specified Employees. 

(a) Subject to Section 6.8(b) hereof, to the extent permitted under Code Section 409A, any separate payment or benefit under
this Agreement or otherwise shall not be deemed “nonqualified deferred compensation” subject to Section 409A and to the extent provided in the exceptions in Treasury Regulation Section 1.409A-1(b)(4), Section 1.409A-1(b)(9)
or any other applicable exception or provision of Code Section 409A. 
 (b) Notwithstanding anything to the contrary in
this Agreement, no compensation or benefits shall be paid to a Participant during the 6-month period following his or her Date of Termination to the extent that the Company determines that the Participant is a “specified employee” as of
the Date of Termination and that that paying such amounts at the time or times indicated in this Agreement would be a prohibited distribution under Code Section 409A(a)(2)(B)(i). If the payment of any such amounts is delayed as a result of the
previous sentence, then on the first business day following the end of such 6-month period (or such earlier date upon which such amount can be paid under Code Section 409A without being subject to such additional taxes, including as a result of
the Participant’s death), the Company shall pay to the Participant a lump-sum amount equal to the cumulative amount that would have otherwise been payable to the Participant during such 6-month period. 

 

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 (c) To the extent that Section 6.5 requires the Company, partially or wholly, to
subsidize any continuation of health insurance benefits following the Participant’s Date of Termination: 
 (i) If such
continued health insurance benefits are to be provided through third-party insurance maintained by the Company under the Company’s benefit plans in a manner that causes such health insurance benefits to be exempt from the application of Code
Section 409A under Treasury Regulation Section 1.409A-1(a)(5), the Company shall pay or reimburse such premiums in accordance with the terms of this Agreement, subject to Section 6.8(d); provided, however, that if, during the period
of health insurance benefits continuation coverage (the “Health Benefits Continuation Period”), any plan pursuant to which such health insurance benefits are provided is not, or ceases prior to the expiration of the Health Benefits
Continuation Period to be, exempt from the application of Code Section 409A under Treasury Regulation Section 1.409A-1(a)(5), then an amount equal to each remaining premium payment shall thereafter be paid to the Participant as currently
taxable compensation in substantially equal monthly installments over the remainder of the Health Benefits Continuation Period (or the remaining portion thereof), accompanied by any additional amounts necessary to offset the taxable nature of such
benefit to the extent such amounts are either exempt from or compliant with the requirements of Code Section 409A; or 

(ii) If such continued health insurance benefits are to be provided in whole or in part through a self-funded plan maintained by the
Company, the benefits of which are not fully-insured by a third-party insurer: 
 (A) To the greatest extent applicable, such
health insurance benefits shall be construed to satisfy the exemption from Code Section 409A pursuant to Treasury Regulation Section 1.409A-1(b)(9)(v)(B), and 

(B) To the extent such health insurance benefits do not satisfy such exemption and/or extend beyond the continuation period under COBRA,
determined as of the Participant’s Date of Termination, the Company shall reimburse the premiums relating to such health insurance benefits in accordance with Section 6.8(d). 

(d) To the extent that any payments or reimbursements provided to the Participant under Sections 6.5, 6.8(c) or 12.7 are deemed to
constitute compensation to the Participant, such amounts shall be paid or reimbursed reasonably promptly, but not later than December 31 of the year following the year in which the expense was incurred. The amount of any payments or expense
reimbursements that constitute compensation in one year shall not affect the amount of payments or expense reimbursements constituting compensation that are eligible for payment or reimbursement in any subsequent year, and the Participant’s
right to such payments or reimbursement of any such expenses shall not be subject to liquidation or exchange for any other benefit. 

ARTICLE VII 

EQUITY INCENTIVE BENEFITS 

All of a Participant’s stock options, stock appreciation rights, restricted stock awards, and other equity incentive awards,
including, without limitation, any “conversion awards” (as defined in the Questar Corporation 2010 Long-Term Stock Incentive Plan) then-held by the Participant, shall vest in full immediately prior to a Change in Control. 

 

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 ARTICLE VIII 

SPECIAL TAX PAYMENTS 

8.1 Right to Excise Tax Gross-Up. Except as set forth below, in the event it shall be determined that any payment or distribution
by an Employer to or for the benefit of a Participant (whether paid or payable or distributed or distributable pursuant to the terms of this Plan or otherwise, but determined without regard to any additional payments required under this Article
VIII) (a “Payment”) would be subject to the excise tax imposed by Section 4999 of the Code or any interest or penalties are incurred by the Participant with respect to such excise tax (such excise tax, together with any such interest
and penalties, are hereinafter collectively referred to as the “Excise Tax”), then the Participant shall be entitled to receive an additional payment (a “Gross-Up Payment”) in an amount such that after payment by the Participant
of all taxes (including any interest or penalties imposed with respect to such taxes), including, without limitation, any income taxes (and any interest and penalties imposed with respect thereto) and Excise Tax imposed upon the Gross-Up Payment,
the Participant retains an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the Payments. 
 8.2
Determination of Amount; Payment. Subject to the provisions of Section 8.3, all determinations required to be made under this Article VIII, including whether a Gross-Up Payment is required and the amount of such Gross-Up Payment and the
assumptions to be utilized in arriving at such determination, shall be made by a nationally recognized certified public accounting firm designated by the Company (the “Accounting Firm”) which shall provide detailed supporting calculations
both to the Company and the Participant within 15 business days after the receipt of notice from the Participant that there has been a Payment, or such earlier time as is requested by the Company. In the event that the Accounting Firm is serving as
accountant or auditor for the individual, entity or group effecting the Change in Control, the Company shall appoint another nationally recognized accounting firm to make the determinations required hereunder (which accounting firm shall then be
referred to as the Accounting Firm hereunder). All fees and expenses of the Accounting Firm shall be borne solely by the Company. Any Gross-Up Payment, as determined pursuant to this Article VIII, shall be paid by the Company to the Participant
promptly upon receipt of the Accounting Firm’s determination, but in no event later than the end of Participant’s taxable year next following the taxable year in which the Participant remits the related taxes. Any costs and expenses
incurred by the Company on behalf of the Participant under this Article VIII due to any tax contest, audit or litigation will be paid by the Company by the end of the Participant’s taxable year following the taxable year in which the taxes that
are the subject of the tax contest, audit or litigation are remitted to the taxing authority, or where as a result of such tax contest, audit or litigation no taxes are remitted, the end of the Participant’s taxable year following the taxable
year in which the audit is completed or there is a final and non-appealable settlement or other resolution of the contest or litigation. Subject to the provisions of Section 8.3 hereof, any determination by the Accounting Firm shall be binding
upon the Company and the Participant. 
 8.3 IRS Dispute Procedures. The Participant shall notify the Company in writing
of any claim by the Internal Revenue Service that, if successful, would require the payment by the Company of the Gross-Up Payment. Such notification shall be given as soon as practicable but no later than ten business days after the Participant is
informed in writing of such claim and shall apprise the Company of the nature of such claim and the date on which such claim is requested to be paid. The Participant shall not pay such claim prior to the expiration of

  

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the 30-day period following the date on which it gives such notice to the Company (or such shorter period ending on the date that any payment of taxes with respect to such claim is due). If the
Company notifies the Participant in writing prior to the expiration of such period that it desires to contest such claim, the Participant shall: 

(a) give the Company any information reasonably requested by the Company relating to such claim; 

(b) take such action in connection with contesting such claim as the Company shall reasonably request in writing from time to time,
including, without limitation, accepting legal representation with respect to such claim by an attorney reasonably selected by the Company; 

(c) cooperate with the Company in good faith in order to effectively contest such claim; and 

(d) permit the Company to participate in any proceedings relating to such claim; 

provided, however, that the Company shall bear and pay directly all costs and expenses (including additional interest and penalties) incurred in
connection with such contest and shall indemnify and hold the Participant harmless, on an after-tax basis, for any Excise Tax or income tax (including interest and penalties with respect thereto) imposed as a result of such representation and
payment of costs and expenses. Without limitation on the foregoing provisions of this Section 8.3, the Company shall control all proceedings taken in connection with such contest and, at its sole option, may pursue or forgo any and all
administrative appeals, proceedings, hearings and conferences with the taxing authority in respect of such claim and may direct the Participant to contest the claim in any permissible manner (other than by paying the tax claimed and suing for a
refund), and the Participant agrees to prosecute such contest to a determination before any administrative tribunal, in a court of initial jurisdiction and in one or more appellate courts, as the Company shall determine; provided, however, that any
extension of the statute of limitations relating to payment of taxes for the taxable year of the Participant with respect to which such contested amount is claimed to be due is limited solely to such contested amount. Furthermore, the Company’s
control of the contest shall be limited to issues with respect to which a Gross-Up Payment would be payable hereunder and the Participant shall be entitled to settle or contest, as the case may be, any other issue raised by the Internal Revenue
Service or any other taxing authority. 
 8.4 Adjustments. If, after the receipt by the Participant of a Gross-Up
Payment, the Participant becomes entitled to receive any refund with respect to which such Gross-Up payment relates, the Participant shall (subject to the Company’s complying with the requirements of Section 8.3) promptly pay to the
Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). 
 8.5
Withholding. All payments to the Participant in accordance with the provisions of this Plan shall be subject to applicable withholding of local, state, Federal and foreign taxes, as determined in the sole discretion of the Company.

  

 13 

 ARTICLE IX 

PARTICIPATING EMPLOYERS 

Any Affiliate of the Company may become a participating Employer in the Plan following approval by the Company. The provisions of the
Plan shall be fully applicable to the Employees of any such Affiliate who are Participants pursuant to Section 4.1. 

ARTICLE X 

SUCCESSOR TO COMPANY 

This Plan shall bind any successor of the Company, its assets or its businesses (whether direct or indirect, by purchase, merger,
consolidation or otherwise), in the same manner and to the same extent that the Company would be obligated under this Plan if no succession had taken place. 

In the case of any transaction in which a successor would not by the foregoing provision or by operation of law be bound by this Plan,
the Company shall require such successor expressly and unconditionally to assume and agree to perform the Company’s obligations under this Plan, in the same manner and to the same extent that the Company would be required to perform if no such
succession had taken place. In the event of a Change in Control in which the successor fails to expressly and unconditionally assume and agree to perform the Company’s obligations under this Plan, each Participant in the Plan immediately prior
to such Change in Control shall be deemed to have incurred a qualifying Separation from Service under Section 5.1 and shall be entitled to payment of the cash equivalent of all Separation Benefits set forth in Article VI as if the day prior to
the date of such Change in Control were the Participant’s Date of Termination in the form of a single lump sum within 60 days following the Change in Control. 

The term “Company,” as used in this Plan, shall mean the Company as hereinbefore defined and any successor or assignee to the
business or assets which by reason hereof becomes bound by this Plan. 
 ARTICLE XI 

DURATION, AMENDMENT AND TERMINATION 

11.1 Duration. If a Change in Control has not occurred, this Plan shall continue indefinitely unless and until terminated by the
Board pursuant to Section 11.2, below. If a Change in Control occurs while this Plan is in effect, the Plan shall continue in full force and effect for three years following such Change in Control, and shall then automatically terminate;
provided, however, that all Participants who become entitled to any payments hereunder shall continue to receive such payments notwithstanding any termination of the Plan. 

11.2 Amendment or Termination. The Board may amend or terminate this Plan for any reason prior to a Change in Control. In the
event of a Change in Control, this Plan shall automatically terminate as set forth in Section 11.1 but may not be amended or prematurely terminated. 

11.3 Procedure for Extension, Amendment or Termination. Any amendment or termination of this Plan by the Board in accordance with
the foregoing shall be made by action of the Board in accordance with the Company’s charter and by-laws and applicable law. 
  

 14 

 ARTICLE XII 

MISCELLANEOUS 

12.1 Full Settlement. Except as otherwise provided in Section 6.6, the Company’s obligation to make the payments
provided for under this Plan and otherwise to perform its obligations hereunder shall not be affected by any set-off, counterclaim, recoupment, defense or other claim, right or action which the Company may have against a Participant or others. In no
event shall a Participant be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to the Participant under any of the provisions of this Plan and such amounts shall not be reduced whether or not the
Participant obtains other employment. 
 12.2 Employment Status. This Plan does not constitute a contract of employment
or impose on the Participant or the Participant’s Employer any obligation for the Participant to remain an Employee or change the status of the Participant’s employment or the policies of the Participant’s Employer regarding
termination of employment. 
 12.3 Confidential Information. Each Participant shall hold in a fiduciary capacity for the
benefit of the Company all secret or confidential information, knowledge or data relating to an Employer, and their respective businesses, which shall have been obtained by the Participant during the Participant’s employment by the
Participant’s Employer and which shall not be or become public knowledge (other than by acts by the Participant or representatives of the Participant in violation of this Plan). After termination of a Participant’s employment with the
Company or other Employer, the Participant shall not, without the prior written consent of the Company or as may otherwise be required by law or legal process, communicate or divulge any such information, knowledge or data to anyone other than the
Company and those designated by it. In no event shall an asserted violation of the provisions of this Section 12.3 constitute a basis for deferring or withholding any amounts otherwise payable under this Plan. 

12.4 Named Fiduciary; Administration. The Company is the named fiduciary of the Plan, and shall administer the Plan, acting
through the Company’s Management Performance Committee, who shall be the Plan Administrator. The Plan Administrator shall have full and complete discretionary authority to administer, construe, and interpret the Plan, to decide all questions of
eligibility, to determine the amount, manner and time of payment, and to make all other determinations deemed necessary or advisable for the Plan. The Plan Administrator shall review and determine all claims for benefits under this Plan. 

12.5 Claim Procedure. 

(a) Filing a Claim. All claims and inquiries concerning benefits under the Plan must be submitted to the Plan Administrator in
writing. The claimant may submit written comments, documents, records or any other information relating to the claim. Furthermore, the claimant shall be provided, upon request and free of charge, reasonable access to, and copies of, all documents,
records and other information relevant to the claim for benefits. If an Employee or former Employee makes a written request alleging a right to receive benefits under this Plan or alleging a right to receive an adjustment in benefits being paid
under the Plan, the Company shall treat it as a claim for benefits. 
  

 15 

 (b) Review of Claims; Claims Denial. The Plan Administrator shall initially deny or
approve all claims for benefits under the Plan. If any claim for benefits is denied in whole or in part, the Plan Administrator shall notify the claimant in writing of such denial and shall advise the claimant of his right to a review thereof. Such
written notice shall set forth, in a manner calculated to be understood by the claimant, specific reasons for such denial, specific references to the Plan provisions on which such denial is based, a description of any information or material
necessary for the claimant to perfect his claim, an explanation of why such material is necessary and an explanation of the Plan’s review procedure, and the time limits applicable to such procedures. Furthermore, the notification shall include
a statement of the claimant’s right to bring a civil action under Section 502(a) of ERISA following an adverse benefit determination on review. Such written notice shall be given to the claimant within a reasonable period of time, which
normally shall not exceed ninety (90) days, after the claim is received by the Plan Administrator. 
 (c) Appeals.
Any claimant or his duly authorized representative, whose claim for benefits is denied in whole or in part, may appeal such denial by submitting to the Plan Administrator a request for a review of the claim within sixty (60) days after
receiving written notice of such denial from the Plan Administrator. The Plan Administrator shall give the claimant upon request, and free of charge, reasonable access to, and copies of, all documents, records and other information relevant to the
claim of the claimant, in preparing his request for review. The request for review must be in writing. The request for review shall set forth all of the grounds upon which it is based, all facts in support thereof, and any other matters which the
claimant deems pertinent. The Plan Administrator may require the claimant to submit such additional facts, documents, or other materials as the Plan Administrator may deem necessary or appropriate in making its review. 

(d) Review of Appeals. The Plan Administrator shall act upon each request for review within sixty (60) days after receipt
thereof. The review on appeal shall consider all comments, documents, records and other information submitted by the claimant relating to the claim without regard to whether this information was submitted or considered in the initial benefit
determination. 
 (e) Decision on Appeals. The Plan Administrator shall give written notice of its decision to the
claimant. If the Plan Administrator confirms the denial of the application for benefits in whole or in part, such notice shall set forth, in a manner calculated to be understood by the claimant, the specific reasons for such denial, and specific
references to the Plan provisions on which the decision is based. The notice shall also contain a statement that the claimant is entitled to receive upon request, and free of charge, reasonable access to, and copies of, all documents, records and
other information relevant to the claimant’s claim for benefits. Information is relevant to a claim if it was relied upon in making the benefit determination or was submitted, considered or generated in the course of making the benefit
determination, whether it was relied upon or not. The notice shall also contain a statement of the claimant’s right to bring an action under ERISA Section 502(a). If the Plan Administrator has not rendered a decision on a request for
review within sixty (60) days after receipt of the request for review, the claimant’s claim shall be deemed to have been approved. The Plan Administrator’s decision shall be final and not subject to further review within the Company.
There are no voluntary appeals procedures after appellate review by the Plan Administrator. 
  

 16 

 (f) Determination of Time Periods. If the day on which any of the foregoing time
periods is to end is a Saturday, Sunday or holiday recognized by the Company, the period shall extend until the next following business day. 

12.6 Unfunded Plan Status. All payments pursuant to the Plan shall be made from the general funds of the Company and no special or
separate fund shall be established or other segregation of assets made to assure payment. No Participant or other person shall have under any circumstances any interest in any particular property or assets of the Company as a result of participating
in the Plan. Notwithstanding the foregoing, the Company may (but shall not be obligated to) create one or more grantor trusts, the assets of which are subject to the claims of the Company’s creditors, to assist it in accumulating funds to pay
its obligations under the Plan. 
 12.7 Attorney Fees; Interest. The Company agrees to pay as incurred, to the full
extent permitted by law, and in accordance with Section 6.8(d) hereof, all legal fees and expenses which a Participant may reasonably incur as a result of any contest (regardless of the outcome thereof) by the Company, the Participant, or
others of the validity or enforceability of, or liability under, any provision of this Plan or any guarantee of performance thereof (including as a result of any contest by the Participant about the amount of any payment pursuant to this Plan), plus
in each case interest on any delayed payment at the applicable Federal rate provided for in Section 7872(f)(2)(A) of the Code. The foregoing right to legal fees and expenses shall not apply to any contest brought by a Participant (or other
party seeking payment under the Plan) that is found by a court of competent jurisdiction to be frivolous or vexatious. 
 12.8
Code Section 409A Savings Clause. The payments and benefits provided hereunder are intended to be exempt from or compliant with the requirements of Section 409A of the Code. Notwithstanding any provision of this Plan to the
contrary, in the event that the Company reasonably determines that any payments or benefits hereunder are not either exempt from or compliant with the requirements of Section 409A of the Code, the Company shall have the right adopt such
amendments to this Plan or adopt such other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, that are necessary or appropriate (i) to preserve the intended tax treatment
of the payments and benefits provided hereunder, to preserve the economic benefits with respect to such payments and benefits, and/or (ii) to exempt such payments and benefits from Section 409A of the Code or to comply with the
requirements of Section 409A of the Code and thereby avoid the application of penalty taxes thereunder; provided, however, that this Section 12.8 does not, and shall not be construed so as to, create any obligation on the part of the
Company to adopt any such amendments, policies or procedures or to take any other such actions or to indemnify any Participant for any failure to do so. 

12.9 Validity and Severability. The invalidity or unenforceability of any provision of the Plan shall not affect the validity or
enforceability of any other provision of the Plan, which shall remain in full force and effect, and any prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

  

 17 

 12.10 Governing Law. The validity, interpretation, construction and performance of
the Plan shall in all respects be governed by the laws of Colorado without reference to principles of conflict of law, except to the extent pre-empted by Federal law. 

12.11 Effectiveness. The Plan is effective upon the “Distribution” (as such term is defined in that certain Separation
and Distribution Agreement, by and between the Questar Corporation and the Company, dated as of June 14, 2010 (the “Separation Agreement”)) (the “Effective Date”); provided, however, in the event that the Separation
Agreement is terminated or the Distribution otherwise does not occur for any reason, this Plan shall automatically, and without notice, terminate and shall be of no force or effect and no participants shall have any rights or interests hereunder.

 [Signature Page Follows] 
  

 18 

 I hereby certify that this QEP Resources, Inc. Executive Severance Compensation Plan was
duly adopted by the Board of Directors of QEP Resources, Inc. on June 12, 2010. 
 Executed on this 12 day of June, 2010.

  

					
	 	 	By:	 	 /s/ Richard J. Doleshek

		 		 	Richard J. Doleshek
		 		 	Executive Vice President, Chief Financial Officer and TreasurerQEP Resources, Inc. Deferred Compensation Wrap Plan

 Exhibit 10.11 

QEP RESOURCES, INC. 

DEFERRED COMPENSATION WRAP PLAN 

incorporating the: 

Deferred Compensation Program 

401(k) Supplemental Program 

 QEP RESOURCES, INC. 

DEFERRED COMPENSATION WRAP PLAN 

ARTICLE 1 

INTRODUCTION 

1.1 Purpose. QEP Resources, Inc. hereby establishes this QEP Resources, Inc. Deferred Compensation Wrap Plan (the “Plan”
or “Wrap Plan”) in order to provide specified benefits to a select group of management and highly compensated employees and to allow such employees to defer the receipt of compensation. The Plan consists of a main Deferred Compensation
Wrap Plan and two component Programs – the Deferred Compensation Program and the 401(k) Supplemental Program (each as described below). The Wrap Plan contains overriding participation, election, and administrative rules, and the component
Programs contain specific rules regarding the benefits available thereunder. The Plan also provides for the payment of amounts previously deferred under the Questar Corporation Deferred Compensation Wrap Plan for certain participants. 

1.2 Status of Plan. This Plan and its component Programs are intended to be an unfunded, nonqualified deferred compensation
arrangement for the purpose of providing deferred compensation to “a select group of management or highly-compensated employees” within the meaning of Sections 201(2), 301(a)(3), and 401(a)(1) of the Employee Retirement Income Security Act
of 1974, as amended. The Plan and its component Programs are also intended to comply with Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations and guidance promulgated thereunder. Finally, each of the component
Programs is intended to qualify as a separate “plan, program, or arrangement” for purposes of 4 U.S.C. 114, thus making payments under the 401(k) Supplemental Program subject to state income tax solely of the state in which the recipient
of the payment resides or is domiciled at the time payment is made. Notwithstanding any other provision herein, this Plan and its component Programs shall be interpreted, operated and administered in a manner consistent with these intentions.

 1.3 Effect of Plan. The terms of this Plan and each of its component Programs shall govern all amounts deferred
hereunder on or after the “Distribution” (as such term is defined in the Separation Agreement (as defined below)) (such date, the “Effective Date”); provided, however, in the event that the Separation Agreement is terminated or
the Distribution otherwise does not occur for any reason, this Plan shall automatically, and without notice, terminate and shall be of no force or effect and no participants shall have any rights or interests hereunder. 

ARTICLE 2 

DEFINITIONS 
 For
purposes of the Plan and each component Program established under the Plan, the following terms or phrases shall have the following indicated meanings, unless the context clearly requires otherwise: 

2.1 “401(k) Supplemental Program” means the component benefit program of this Plan attached hereto as Exhibit B.

  

 2 

 2.2 “Account” or “Account Balance” means, for each
Participant, the account established for his or her benefit under each Program, which records the credit on the records of the Employer equal to the amounts set aside under the Program and the actual or deemed earnings, if any, credited to such
account. The Account Balance, and each other specified account or sub-account, shall be a bookkeeping entry only and shall be used solely as a device for the measurement and determination of the amounts to be paid to a Participant, or his or her
designated Beneficiary, pursuant to this Plan and its component Programs. 
 2.3 “Assumed Accounts” has the
meaning set forth in Article 10. 
 2.4 “Affiliated Company” means any entity that is treated as the same
employer as the Company under Sections 414(b), (c), (m), or (o) of the Code, any entity required to be aggregated with the Company pursuant to regulations adopted under Code Section 409A, or any entity otherwise designated as an Affiliated
Company by the Company. 
 2.5 “Beneficiary” means that person or persons who become entitled to receive a
distribution of benefits under the Plan and its component Programs in the event of the death of a Participant prior to the distribution of all benefits to which he or she is entitled. 

2.6 “Board” means the Board of Directors of the Company. 

2.7 “Change in Control” shall be deemed to have occurred if: (i) any individual, entity, or group (within the
meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934 (the “Exchange Act”)) other than a trustee or other fiduciary holding securities under an employee benefit plan of the Company, is or becomes the
beneficial owner (as such term is used in Rule 13d-3 under the Exchange Act) of securities of the Company representing 25 percent or more of the combined voting power of the Company; or (ii) the following individuals cease for any reason to
constitute a majority of the number of directors then serving: individuals who, as of the Effective Date, constitute the Company’s Board of Directors and any new director (other than a director whose initial assumption of office is in
connection with an actual or threatened election contest, including but not limited to a consent solicitation, relating to the election of directors of the Company) whose appointment or election by the Board or nomination for election by the
Company’s stockholders was approved or recommended by a vote of at least two-thirds of the directors then still in office who either were directors on the Effective Date, or whose appointment, election or nomination for election was previously
so approved or recommended; or (iii) the consummation of a merger or consolidation of the Company or any direct or indirect subsidiary of the Company with any corporation, other than a merger or consolidation that would result in the voting
securities of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or any parent thereof) at least 60
percent of the combined voting power of the securities of the Company or such surviving entity or its parent outstanding immediately after such merger or consolidation, or a merger or consolidation effected to implement a recapitalization of the
Company (or similar transaction) in which no person is or becomes the beneficial owner, directly or indirectly, of securities of the Company representing 25 percent or more of the combined voting power of the Company’s then outstanding
securities; or (iv) the Company’s stockholders approve a plan of complete liquidation or dissolution of the Company or there is consummated for the sale or disposition by the Company of all or substantially all of the Company’s
assets, other than a sale or disposition 
  

 3 

 
by the Company of all or substantially all of the Company’s assets to an entity, at least 60 percent of the combined voting power of the voting securities of which are owned by the
stockholders of the Company in substantially the same proportions as their ownership of the Company immediately prior to such sale. In addition, if a Change in Control constitutes a payment event with respect to any payment under the Plan which
provides for the deferral of compensation and is subject to Section 409A of the Code, the transaction or event described in clauses (i), (ii), (iii) and (iv) with respect to such payment must also constitute a “change in control
event,” as defined in Treasury Regulation Section 1.409A-3(i)(5) to the extent required by Section 409A of the Code. 

2.8 “Code” means the Internal Revenue Code of 1986, as amended. 

2.9 “Committee” means the Compensation Committee of the Board. 

2.10 “Common Stock” means the no par value common stock of the Company. 

2.11 “Company” means QEP Resources, Inc., a corporation organized and existing under the laws of the State of Delaware,
or its successor or successors. 
 2.12 “Compensation” means: 

(a) Deferred Compensation Program. For purposes of the Deferred Compensation Program, the total earnings paid by an Employer to an
Employee and properly reportable on IRS Form W-2 for the applicable Plan Year (including payments under annual incentive compensation plans) and all amounts that are not included in such Employee’s gross income for federal income tax purposes
solely on account of his or her election to have compensation reduced pursuant to the Plan, a qualified cash or deferred arrangement described in Section 401(k) of the Code, a cafeteria plan as defined in Section 125 of the Code, or a
qualified transportation fringe benefit plan as defined in Section 132(f)(4) of the Code, but excluding payments under any long-term cash incentive plan and other forms of compensation (including, without limitation, the Employer’s cost
for any public or private employee benefit plan, any income recognized by the employee as a result of exercising stock options, moving expenses, the value of restricted stock granted as signing or retention bonuses and any dividends paid on such
shares, loan forgiveness, welfare benefits, and severance payments. 
 (b) 401(k) Supplemental Program. For purposes of
the 401(k) Supplemental Program, the same meaning as in paragraph (a) above, but excluding any Deferral Contributions made to the Deferred Compensation Program. 

2.13 “Compensation Limit” means the annual limit of compensation that may be taken into account for purposes of
providing benefits under a tax-qualified retirement plan pursuant to Section 401(a)(17) of the Code, as adjusted from time to time. 

2.14 “Deferral Contributions” means that portion of a Participant’s Compensation that is deferred by a Participant
pursuant to the Programs. 
 2.15 “Deferred Compensation Program” means the component benefit program of this
Plan attached hereto as Exhibit A. 
  

 4 

 2.16 “Deferred Compensation Sub-Account” means the sub-account described in
Section 5.1 of the Deferred Compensation Program. 
 2.17 “Disability” means a condition that renders a
Participant unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12
months, as described in Treas. Reg. Section 1.409A-3(i)(4)(i)(A). A Participant shall not be considered to be disabled unless the Participant furnishes proof of the existence of such disability in such form and manner as may be required by
regulations promulgated under, or applicable to, Code Section 409A. 
 2.18 “Effective Date” shall have
the meaning set forth in Section 1.3 hereof. 
 2.19 “Eligible Employee” means any Employee that meets the
eligibility requirements of Section 3.1. 
 2.20 “Employee” means any individual that is among a select
group of management or highly compensated employees (as determined in accordance with Section 3401(c) of the Code and the Treasury Regulations thereunder) of an Employer. 

2.21 “Employer” means the Company and each Affiliated Company that consents to the adoption of the Plan. 

2.22 “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended. 

2.23 “Fair Market Value” means the closing benchmark price of the Company’s Common Stock as reported on the
composite tape of the New York Stock Exchange for any given valuation date, or if the Common Stock shall not have been traded on such date, the closing price on the next preceding day on which a sale occurred. 

2.24 “Investment Plan” means the QEP Resources, Inc. Employee Investment Plan, as amended from time to time, or any
successor plan. 
 2.25 “Matching Contributions” means Employer contribution amounts credited to Participants
under the Deferred Compensation Program and 401(k) Supplemental Program in addition to (and made on account of) the Participants’ Deferral Contributions under such Programs. 

2.26 “Matching Contribution Sub-Account” means the sub-account described in Section 5.1 of the Deferred
Compensation Program. 
 2.27 “Participant” means any individual who has commenced participation in the Plan
and any of its component Programs in accordance with Article 3. 
 2.28 “Participating Deferral Sub-Account”
means the sub-account described in Section 5.1 of the Deferred Compensation Program. 
  

 5 

 2.29 “Plan” or “Wrap Plan” means this QEP Resources, Inc.
Deferred Compensation Wrap Plan, as amended or restated from time to time. 
 2.30 “Plan Year” means the
calendar year. 
 2.31 “Questar Common Stock Fund” means the investment option available under the Questar Plan
that is deemed to invest in the common stock of Questar Corporation. 
 2.32 “Questar Plan” means the Questar
Corporation Deferred Compensation Wrap Plan, including its predecessor plans as set forth therein. 
 2.33
“Program” means the Deferred Compensation Program and the 401(k) Supplemental Program, or either of them, as the context may require. 

2.34 “Separation Agreement” means that certain Separation and Distribution Agreement, by and between Questar Corporation
and the Company, dated as of June 14, 2010). 
 2.35 “Separation from Service” means a “separation
from service” within the meaning of Section 409A(a)(2)(A)(i) of the Code and Treasury Regulation Section 1.409A-1(h). 

2.36 “Transferred Employee” means a “QEP Employee” (as defined in that certain Employee Matters Agreement, by
and between Questar Corporation and the Company, dated as of June 14, 2010) who either had an account balance or was eligible to participate in the Questar Plan immediately prior to the Effective Date. 

ARTICLE 3 

ELIGIBILITY; PARTICIPATION 

3.1 Eligibility. Eligibility to participate in the Plan shall be determined as follows: 

(a) Any Employee shall become eligible to participate in this Plan on the earliest to occur of: 

(i) the date the Employee first becomes an officer of an Employer, in which case the Employee shall be (A) immediately eligible to
participate in the 401(k) Supplemental Program as of such date, and (B) eligible to participate in the Deferred Compensation Program beginning on the first day of the Plan Year next following such date. 

(ii) the date the Employee first receives Compensation in any Plan Year in an amount equal to the Compensation Limit, in which case the
Employee shall be (A) immediately eligible to participate in the 401(k) Supplemental Program as of such date, and (B) eligible to participate in the Deferred Compensation Program beginning on the first day of the Plan Year next following
such date. 
  

 6 

 (iii) the date selected by the Committee for the Employee to be eligible to participate in
the Plan, in which case the Employee shall be eligible to participate in all of the component Programs as of such date; 
 provided, that if an
Employee does not satisfy clauses (i) or (ii) above, then such Employee must be nominated by his or her Employer and approved by the Committee in writing as eligible to participate in the Plan on such date as determined by the Committee in
its sole and absolute discretion. 
 (b) Notwithstanding any other provision herein, each Transferred Employee shall
automatically participate in the Plan as of the Effective Date. 
 3.2 Enrollment and Commencement of Deferrals. Except
as provided below with regard to automatic enrollment in the 401(k) Supplemental Program, each Eligible Employee who wishes to participate in the Plan for a Plan Year must make an irrevocable election as to Deferral Contributions for the Plan Year
by timely completing, executing, and returning to the Committee such election forms or other enrollment materials as the Committee requires as follows: 

(a) in the case of an Eligible Employee who first becomes eligible to participate in the Plan as of the first day of
a Plan Year, on or prior to December 31st of the
prior Plan Year, or such other earlier date as the Committee establishes in its sole and absolute discretion; and 
 (b) in the
case of an Eligible Employee who first becomes eligible to participate in the Plan after the first day of a Plan Year, within thirty (30) days after the date the Eligible Employee first becomes eligible to participate, or such other earlier
date as the Committee establishes in its sole and absolute discretion. 
 If an Eligible Employee fails to timely complete,
execute and return such election forms or other enrollment materials, the Eligible Employee shall be automatically enrolled in the 401(k) Supplemental Program in accordance with the deemed deferral elections set forth in Section 4.1(a)(ii), but
shall not participate in the Deferred Compensation Program until the first day of the first Plan Year beginning after the date on which he or she timely completes, executes and returns such election forms or other enrollment materials to the
Committee. 
 Notwithstanding any other provision herein and solely with respect to the 2010 Plan Year, each Transferred
Employee shall automatically be deemed to have made a timely election in accordance with this Section 3.2 to defer the same percentage of Compensation with respect to Deferral Contributions for the 2010 Plan Year as the percentage of
compensation that the Transferred Employee elected to defer with respect to deferral contributions for the 2010 plan year under the Questar Plan in accordance with its terms. 

3.3 Failure of Eligibility. If the Committee determines, in its sole and absolute discretion, that any Participant no longer
qualifies as a member of a select group of management or highly compensated employees of the Employer, the Participant shall cease to be an active Participant in the Plan and future contributions to the Plan made by or on behalf of the Participant
shall cease as of the date of such determination by the Committee. The Committee’s determination hereunder shall be final and binding on all persons. 
  

 7 

 ARTICLE 4 

ELECTIONS 
 4.1
Elections, General. Any deferral election under the Plan and its component Programs shall be made in accordance with Section 409A(a)(4)(B) of the Code and the regulations thereunder. 

(a) First Year of Plan Participation. In connection with a Participant’s enrollment in the Plan pursuant to Section 3.2,
the Participant shall make an irrevocable election to defer (or not to defer) Compensation in accordance with the terms of the component Programs for which he or she is eligible, which election shall apply to the Plan Year in which the Participant
commences participation. A Participant may only elect to defer Compensation with respect to services performed for periods following the date of such election. The Participant’s initial deferral election under this Section 4.1(a) shall
continue to apply for all succeeding Plan Years unless and until revoked or modified pursuant to Section 4.1(b), below. If the Participant fails to timely complete, execute and return such forms or other enrollment materials as required by the
Committee in accordance with Section 3.2, then the Participant shall be deemed to have elected to make the Deferral Contributions permitted under the 401(k) Supplemental Program for the Plan Year in which the Participant commences participation
and shall not be permitted to make any Deferral Contributions under the Deferred Compensation Program for such Plan Year. 
 In
connection with a Participant’s enrollment in the Plan pursuant to Section 3.2, the Participant shall also make the following elections with respect to each Program under the Plan: 

(i) Deferred Compensation Program. If eligible to participate in the Deferred Compensation Program for the Plan Year in which the
Participant commences participation under the Plan, the Participant shall make an irrevocable election (from the options available under Article 6 below) as to the time and form of payment of all deferrals (in the form of Deferral and/or Matching
Contributions) credited to his or her Account under the Deferred Compensation Program for such Plan Year (including earnings thereon). If the Participant fails to make such election, or such election does not meet the requirements of Code
Section 409A and related Treasury guidance or regulations, the Participant shall be deemed to have elected to receive a lump sum distribution as soon as legally and administratively practicable following the earliest to occur of the
Participant’s (i) Separation from Service, (ii) Disability, or (iii) death. The Participant’s election (or deemed election) shall continue to apply for succeeding Plan Years unless and until the election is modified pursuant
to Section 4.1(b), below. Any such modification shall apply prospectively only and shall not apply to deferrals (in the form of Deferral or Matching Contributions) previously credited under the Program (or any earnings thereon). 

(ii) 401(k) Supplemental Program. The Participant shall make an irrevocable election as to the time and form of payment of all
deferrals (in the form of Deferral an/or Matching Contributions) credited to his or her Account Balance under the 401(k) Supplemental Program from the options available under Section 6 below. Such election shall be irrevocable and shall apply
to the Participant’s entire Account Balance under the Program, including all amounts deferred in subsequent Plan Years and any related earnings. If the Participant fails to make such election, or if such election does not meet the requirements
of Code Section 409A and related Treasury guidance or regulations, the Participant shall be deemed 
  

 8 

 
to have elected to receive a lump sum distribution as soon as legally and administratively practicable following the earliest to occur of the Participant’s (i) Separation From Service,
(ii) Disability, or (iii) death. 
 Notwithstanding any other provision herein and solely with respect to the 2010
Plan Year, each Transferred Employee shall automatically be deemed to have made an election in accordance with this Section 4.1 as to the same time and form of payment with respect to (a) any Deferral or Matching Contributions credited to
his or her Account under the Deferred Compensation Program for the 2010 Plan Year and (b) all amounts credited to his or her Account under the 401(k) Supplemental Program for the 2010 Plan Year, as the Transferred Employee had elected under the
Questar Plan in accordance with its terms with respect to (x) deferral or matching contributions credited to his or her account under the deferred compensation program for the 2010 plan year and (y) all amounts credited to his or her
account under the 401(k) supplemental program for the 2010 plan year, respectively. 
 (b) Subsequent
Plan Years. For each succeeding Plan Year, the Participant may, prior to
December 31st of the immediately preceding Plan Year
(or such earlier deadline as is established by the Committee in its sole discretion): 
 (i) make an irrevocable election to
initially defer Compensation under the Deferred Compensation Program for succeeding Plan Years, or to modify or revoke his or her existing elections to defer Compensation under either or both of the Programs for succeeding Plan Years. All such
elections shall be made in accordance with the terms of the Programs and shall remain in effect for all succeeding Plan Years unless timely revoked or modified by the Participant in accordance with this Section. Any such modification shall apply
prospectively only and shall not apply to Compensation previously deferred under either or both of the Programs. 
 (ii) make
an irrevocable election to modify his or her existing election as to the time and form of payment of any future Deferral or Matching Contributions credited to his or her Account Balance (and related earnings) under either or both of the Programs for
succeeding Plan Years. Such election shall be made in accordance with the terms of the Deferred Compensation Program and Article 6 below, and shall remain in effect for all succeeding Plan Years unless and until timely modified by the Participant in
accordance with this Section. Any such modification shall apply prospectively only and shall not apply to Deferral or Matching Contributions previously credited under the Program (or any earnings thereon). 

Any election(s) made in accordance with this Section shall be irrevocable; provided, however, that if the Committee requires Participants
to make a deferral election for “performance-based compensation” or “compensation subject to a substantial risk of forfeiture” by the deadline(s) described above, it may, in its sole discretion, and in accordance with Code
Section 409A and related Treasury guidance or regulations, permit a Participant to subsequently change his or her elections for such Compensation no later than the deadlines established by the Committee pursuant to Section 4.1(c) or
4.1(d), below. 
 (c) Performance-Based Compensation. The Committee may, in its sole discretion, determine that an
irrevocable deferral election pertaining to Compensation that constitutes “performance-based compensation” (as defined in Treas. Reg. Section 1.409A-1(e)) may be made no later than six (6) months before the end of the performance
service period, provided that the Participant performs services continuously from the later of the beginning of 
  

 9 

 
the performance period or the date upon which the performance criteria are established through the date upon which the Participant makes a deferral election for such compensation; provided,
further that in no event shall an election to defer performance-based compensation be permitted after such compensation has become readily ascertainable. Any deferral election under this Section 4.1(c) shall be made in accordance with Treas.
Reg. Section 1.409A-2(a)(8). 
 (d) Compensation Subject to Risk of Forfeiture. With
respect to Compensation (i) to which a Participant has a legally binding right to payment in a subsequent year, and (ii) that is subject to a forfeiture condition requiring the Participant’s continued services for a period of at least
twelve (12) months from the date the Participant obtains the legally binding right to such payment, the Committee may, in its sole discretion, determine that an irrevocable election to defer such Compensation may be made no later than the 30
th day after the Participant obtains the legally binding
right to the Compensation, provided that the election is made at least twelve (12) months in advance of the earliest date at which the forfeiture condition could lapse. Any deferral election under this Section 4.1(d) shall be made in
accordance with Treas. Reg. Section 1.409A-2(a)(5). 
 4.2 Election Forms. All elections shall be made on forms
prepared by the Committee and must be dated, signed, and filed with the Company’s Vice President of Human Resources in order to be valid. 

ARTICLE 5 

ACCOUNT STATEMENTS 

At least once a year within 60 days after the end of each Plan Year, a statement shall be sent to each Participant listing his or her
Account Balance for each Program as of the last day of the Plan Year. The statement shall also include the Deferral Contributions made by the Participant to each Program for the Plan Year, along with any Matching Contributions credited to the
Participant’s Account Balances and the investment gains or losses (including reinvested dividends) credited during the Plan Year. Such information shall be reflected on a payroll by payroll basis. 

ARTICLE 6 

DISTRIBUTIONS 

6.1 Permissible Times and Forms of Payments. A Participant may elect to receive his or her Account under the Deferred Compensation
Program (or relevant portion thereof) or his or her Account under the 401(k) Supplemental Program pursuant to an election form filed in accordance with Article 4 at the following times and in the following forms, provided, however, that the
Participant’s Account must be distributed in full within five years of the occurrence of a Distribution Event as set forth below: 

(a) Time of Distribution. A Participant may elect to receive a distribution on the date of, or at a designated anniversary date
following, the first to occur of the Participant’s Disability, Separation from Service, or death (“Distribution Event”). 

(b) Form of Distribution. A Participant may elect to receive a distribution of his or her Account (or any relevant portion of his
or her Account under the Deferred Compensation Program) in any of the following forms: 
 (i) a single lump sum;
or 
  

 10 

 (ii) up to four (4) annual installments. 

6.2 Change in Control. Notwithstanding any election made by the Participant under Section 6.1, in the event of a Change in
Control, all amounts then credited to the Participant’s Account shall be distributed to the Participant in a single lump sum within 60 days following the date of such Change in Control. 

6.3 Calculation of Distributions. 

(a) Lump Sum. All lump sum distributions shall be based on the value of the Participant’s Account (or the portion thereof
being distributed) as of the last day of the calendar month preceding the payment date. 
 (b) Installment Distributions.
Under an installment payout, the Participant’s first installment shall be equal to a fraction of the balance credited to his or her Account (or the portion of his or her account to be paid in installments) as of the last day of the calendar
month preceding such payment, the numerator of which is one and the denominator of which is the total number of installments selected. The amount of each subsequent payment shall be a fraction of the balance in the Participant’s Account (or the
portion of his or her account to be paid in installments) as of the last day of the calendar month preceding each subsequent payment, the numerator of which is one and the denominator of which is the total number of installments elected minus the
number of installments previously paid. 
 6.4 Six-Month Delay. Notwithstanding anything to the contrary in the Plan, no
distribution shall be made to a Participant under the Plan on account of the Participant’s Separation from Service during the 6-month period following such Separation from Service to the extent that the Company determines that the Participant
is a “specified employee” (as defined in Section 409A(a)(2)(B)(i) of the Code and the Treasury Regulations thereunder) at the time of such Separation from Service and that paying such amounts at the time or times indicated in the Plan
would be a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code. If the payment of any such amounts is delayed as a result of the previous sentence, then on the first business day following the end of such 6-month period (or such
earlier date upon which such amount can be paid under Section 409A of the Code without being subject to such additional taxes, including as a result of the Participant’s death), a lump-sum distribution shall be made to the Participant
under the Plan equal to the cumulative amount that would have otherwise been payable to the Participant during such 6-month period. 

6.5 Method of Payment. All payments under the Plan shall be made in cash. 

ARTICLE 7 

ADMINISTRATION 

7.1 Committee to Administer and Interpret Plan and Component Programs. The Committee shall administer the Plan and its component
Programs and shall have all discretion and power necessary for that purpose. The Committee shall have the discretion, authority, and power to (i) make, amend, interpret, and enforce all appropriate rules and regulations for the

  

 11 

 
administration of the Plan and its component Programs and (ii) decide or resolve any and all questions as may arise in connection with this Plan and its component Programs, including
interpretations of the Plan and its component Programs and determinations of eligibility to participate and to receive distributions under the Plan and its component Programs. Any individual serving on the Committee shall not vote or act on any
matter relating solely to himself. When making a determination or calculation, the Committee shall be entitled to rely on information supplied by a Participant, Beneficiary, or the Employer, as the case may be. The Committee shall maintain all
records of the Plan and its component Programs. 
 7.2 Agents. In the administration of this Plan and its component
Programs, the Committee may, from time to time, employ agents (including officers and other employees of the Company) and delegate to them such administrative duties as it sees fit (including acting through a duly appointed representative) and may
from time to time consult with counsel who may be counsel to the Company. 
 7.3 Binding Effect of Decisions. The
decision or action of the Committee with respect to any question arising out of or in connection with the administration, interpretation and application of the Plan and its component Programs and the rules and regulations promulgated hereunder shall
be final and conclusive and binding upon all persons having any interest in the Plan and its component Programs. 
 7.4
Indemnity of Committee. The Company shall indemnify and hold harmless the members of the Committee and any employee to whom duties of the Committee may be delegated against any and all claims, losses, damages, expenses or liabilities arising
from any action or failure to act with respect to this Plan and its component Programs, except in the case of willful misconduct by the Committee, any of its members, or any such employee. 

7.5 Employer Information. To enable the Committee to perform its functions, the Employer shall supply full and timely information
to the Committee on all matters relating to the compensation of its Participants, the date and circumstances of the Disability, death or Separation from Service of a Participant, as applicable, and such other pertinent information as the Committee
may reasonably require. 
 7.6 Agent for Legal Process. The Committee shall be agent of the Plan and its component
Programs for service of all legal process. 
 ARTICLE 8 

CLAIMS PROCEDURE 

8.1 Filing a Claim. All claims under this Plan and its component Programs shall be filed in writing by the Participant, his or her
Beneficiary, or the authorized representative of either, by completing the procedures that the Committee requires. The procedures shall be reasonable and may include the completion of forms and the submission of documents and additional information.
All claims shall be filed in writing with the Committee according to the Committee’s procedures no later than one year after the occurrence of the event that gives rise to the claim. If the claim is not filed within the time described in the
preceding sentence, the claim shall be barred. 
  

 12 

 8.2 Review of Initial Claim. 

(a) Initial Period for Review of the Claim. The Committee shall review all materials and shall decide whether to approve or deny
the claim. If a claim is denied in whole or in part, written notice of denial shall be furnished by the Committee to the claimant within a reasonable time after the claim is filed but not later than ninety (90) days after the Committee receives
the claim. The notice shall set forth the specific reason(s) for the denial, reference to the specific Plan or Program provisions on which the denial is based, a description of any additional material or information necessary for the claimant to
perfect his or her claim and an explanation of why such material or information is necessary, and a description of the Plan’s review procedures, including the applicable time limits and a statement of the claimant’s right to bring a civil
action under ERISA section 502(a) following a denial of the appeal. 
 (b) Extension. If the Committee determines that
special circumstances require an extension of time for processing the claim, it shall give written notice to the claimant and the extension shall not exceed ninety (90) days. The notice shall be given before the expiration of the ninety
(90) day period described in Section 8.2(a) above and shall indicate the special circumstances requiring the extension and the date by which the Committee expects to render its decision. 

8.3 Appeal of Denial of Initial Claim. The claimant may request a review upon written application, may review pertinent documents,
and may submit issues or comments in writing. The claimant must request a review within a reasonable period of time prescribed by the Committee. In no event shall such a period of time be less than sixty (60) days. 

8.4 Review of Appeal. 

(a) Initial Period for Review of the Appeal. The Committee shall conduct all reviews of denied claims and shall render its
decision within a reasonable time, but not to exceed sixty (60) days from the receipt of the appeal by the Committee. The claimant shall be notified of the Committee’s decision in a notice, which shall set forth the specific reason(s) for
the denial, reference to the specific Plan or Program provisions on which the denial is based, a statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to and copies of all documents, records, and
other information relevant to the claimant’s claim, and a statement of the claimant’s right to bring a civil action under ERISA section 502(a) following a denial of the appeal. 

(b) Extension. If the Committee determines that special circumstances require an extension of time for reviewing the appeal, it
shall give written notice to the claimant and the extension shall not exceed sixty (60) days. The notice shall be given before the expiration of the sixty (60) day period described in Section 8.4(a) above and shall indicate the
special circumstances requiring the extension and the date by which the Committee expects to render its decision. 
 8.5 Form
of Notice to Claimant. The notice to the claimant shall be given in writing or electronically and shall be written in a manner calculated to be understood by the claimant. If the notice is given electronically, it shall comply with the
requirements of Department of Labor Regulation Section 2520.104b-1(c)(1)(i), (iii), and (iv). 
 8.6 Discretionary
Authority of Committee. The Committee shall have full discretionary authority to determine eligibility, status, and the rights of all individuals under the Plan and its component Programs, to construe any and all terms of the Plan and its
component Programs, and to find and construe all facts. 
  

 13 

 ARTICLE 9 

AMENDMENT AND TERMINATION OF PLAN 

The Board may at any time amend, modify, or terminate this Plan and its component Programs; provided, however, that no such amendment may
reduce any Participant’s Account Balances under the Plan or any component Program as it existed prior to the date of such amendment or termination. 

ARTICLE 10 

ASSUMED ACCOUNTS ATTRIBUTABLE TO TRANSFERRED EMPLOYEES 

As of the Effective Date, the Company has assumed all accounts under the Questar Plan with respect to the Transferred Employees
(“Assumed Accounts”), and as of the Effective Date, Questar shall have no further liabilities or obligations with respect to the Assumed Accounts. The Assumed Accounts shall be credited to Accounts of the Transferred Employees under this
Plan and shall remain subject to the same vesting schedule and elections (including deferral and time and form of payment elections) and beneficiary designations that were controlling under the Questar Plan immediately prior to the Effective Date,
until a new election is made in accordance with the terms of this Plan, Code Section 409A and applicable law that by its terms supersedes the applicable prior election made under the Questar Plan. 

ARTICLE 11 

MISCELLANEOUS 

11.1 Source of Payments. Each participating Employer will pay all benefits for its Employees arising under this Plan and its
component Programs, and all costs, charges and expenses relating to such benefits, out of its general assets. 
 11.2 No
Assignment or Alienation. 
 (a) General. Except as provided in subsection (b) below, the benefits provided for
in this Plan and its component Programs shall not be anticipated, assigned (either at law or in equity), alienated, or be subject to attachment, garnishment, levy, execution or other legal or equitable process. Any attempt by any Participant or any
Beneficiary to anticipate, assign or alienate any portion of the benefits provided for in this Plan or its component Programs shall be null and void. 

(b) Exception: DRO. The restrictions of subsection (a) shall not apply to a distribution to an “alternate payee”
(as defined in Code Section 414(p)) pursuant to a “domestic relations order” (“DRO”) within the meaning of Code Section 414(p)(1)(B). The Committee shall have the discretion, power, and authority to determine whether an
order is a DRO. Upon a determination that an order is a DRO, the Committee shall direct the Employer to distribute to the alternate payee or payees named in the DRO, as directed by the DRO. 

11.3 Beneficiaries. A Participant shall have the right, in accordance with forms and procedures established by the Committee, to
designate one or more beneficiaries to receive some or all amounts payable under each of the component Programs after the Participant’s death. The Participant need not designate the same Beneficiary for each Program under the Plan. In the
absence of an effective beneficiary designation, all payments shall be made to the beneficiary designated by the Participant (or deemed by law to be designated) under the terms of the Investment Plan. 

 

 14 

 11.4 No Creation of Rights. Nothing in this Plan or its component Programs shall
confer upon any Participant the right to continue as an Employee of an Employer. The right of a Participant to receive a cash distribution shall be an unsecured claim against the general assets of his or her Employer. Nothing contained in this Plan
or its component Programs nor any action taken hereunder shall create, or be construed to create, a trust of any kind, or a fiduciary relationship between the Company and the Participants, Beneficiaries, or any other persons. All Accounts under the
Plan and its component Programs shall be maintained for bookkeeping purposes only and shall not represent a claim against specific assets of any Employer. 

11.5 Furnishing Information. A Participant or his or her Beneficiary shall cooperate with the Committee by furnishing any and all
information requested by the Committee and take such other actions as may be requested in order to facilitate the administration of the Plan and its component Programs and the payment of benefits thereunder. 

11.6 Payments to Incompetents. If the Committee determines in its discretion that a benefit under this Plan or any of its
component Programs is to be paid to a minor, a person declared incompetent or to a person incapable of handling the disposition of his or her property, the Committee may direct payment of such benefit to the guardian, legal representative or person
having the care and custody of such minor, incompetent or incapable person. The Committee may require proof of minority, incompetence, incapacity or guardianship, as it may deem appropriate prior to distribution of the benefit. Any payment of a
benefit shall be a payment for the account of the Participant and the Participant’s Beneficiary, as the case may be, and shall be a complete discharge of any liability under the Plan and its component Programs for such payment amount.

 11.7 Court Order. The Committee is authorized to make any payments directed by court order in any action in which the
Plan or the Committee has been named as a party. 
 11.8 Code Section 409A Savings Clause. The payments and benefits
provided under the Plan and its component Programs are intended to be compliant with the requirements of Section 409A of the Code. Notwithstanding any provision of this Plan to the contrary, including, without limitation, Article 9 hereof, in
the event that the Company reasonably determines that any payments or benefits hereunder are not either exempt from or compliant with the requirements of Section 409A of the Code, the Company shall have the right adopt such amendments to this
Plan and its component Programs or adopt such other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, that are necessary or appropriate (i) to preserve the intended tax
treatment of the payments and benefits provided hereunder, to preserve the economic benefits with respect to such payments and benefits, and/or (ii) to exempt such payments and benefits from Section 409A of the Code or to comply with the
requirements of Section 409A of the Code and thereby avoid the application of penalty taxes thereunder; provided, however, that this Section 11.8 does not, and shall not be construed so as to, create any obligation on the part of the
Company to adopt any such amendments, policies or procedures or to take any other such actions or to indemnify any Participant for any failure to do so. 
  

 15 

 11.9 Attorney Fees; Interest. The Company agrees to pay as incurred, to the full
extent permitted by law all legal fees and expenses which a Participant may reasonably incur as a result of any contest (regardless of the outcome thereof) by the Company, the Participant, or others following a Change in Control regarding the
validity or enforceability of, or liability under, any provision of this Plan or any guarantee of performance thereof (including as a result of any contest by the Participant about the amount of any payment pursuant to this Plan), plus in each case
interest on any delayed payment at the applicable Federal rate provided for in Section 7872(f)(2)(A) of the Code. The foregoing right to legal fees and expenses shall not apply to any contest brought by a Participant (or other party seeking
payment under the Plan) that is found by a court of competent jurisdiction to be frivolous or vexatious. To the extent that any payments or reimbursements provided to the Participant under this Section are deemed to constitute compensation to the
Participant, such amounts shall be paid or reimbursed reasonably promptly, but not later than December 31 of the year following the year in which the expense was incurred. The amount of any payments or expense reimbursements that
constitute compensation in one year shall not affect the amount of payments or expense reimbursements constituting compensation that are eligible for payment or reimbursement in any subsequent year, and the Participant’s right to such payments
or reimbursement of any such expenses shall not be subject to liquidation or exchange for any other benefit. 
 11.10
Distribution in the Event of Taxation. If, for any reason, all or any portion of a Participant’s benefits under this Plan or any of its component Programs becomes subject to federal income tax with respect to the Participant prior to
receipt, a Participant may petition the Committee for a distribution of that portion of his or her benefit that has become taxable, or such lesser amount as may be permitted by Code Section 409A. Upon the grant of such a petition, which grant
shall not be unreasonably withheld, the Employer shall distribute to the Participant immediately available funds in an amount equal to the taxable portion of his or her benefit or such lesser amount as may be permitted by Code Section 409A
(which amount shall not exceed a Participant’s unpaid Account Balances). If the petition is granted, the tax liability distribution shall be made within 90 days of the date when the Participant’s petition is granted. Such a distribution
shall affect and reduce the benefits to be paid under this Plan and its component Programs. Any distribution under this Section 11.10 must meet the requirements of Code Section 409A and related Treasury guidance or Regulations. 

11.11 Governing Law. To the extent not preempted by federal law, this Plan and its component Programs shall be governed by the
laws of the State of Colorado without regard to conflicts of law principles. 
 [Signature Page Follows] 

 

 16 

 I hereby certify that this QEP Resources, Inc. Deferred Compensation Wrap Plan was duly
adopted by the Board of Directors of QEP Resources, Inc. on June 12, 2010. 
 Executed on this 12 day of June, 2010.

  

					
	By:	 	 /s/ Richard J. Doleshek
	  	
		 	    Richard J. Doleshek	  	
		 	    Executive Vice President, Chief Financial Officer and Treasurer

 Exhibit A 

DEFERRED COMPENSATION PROGRAM 

a component Program of the 

QEP Resources, Inc. Deferred Compensation Wrap Plan 
  

 A-1 

 QEP RESOURCES, INC. 

DEFERRED COMPENSATION PROGRAM 

ARTICLE 1 

INTRODUCTION 

1.1 Establishment of Program. The Company hereby establishes this Deferred Compensation Program under the Wrap Plan, as of the
Effective Date. Unless otherwise defined herein, all capitalized terms herein shall the meanings set forth in the QEP Resources, Inc. Deferred Compensation Wrap Plan. 

1.2 Purpose. The purposes of the Deferred Compensation Program are (i) to provide Participants with the opportunity to defer
receipt of up to a specified portion of their annual Compensation in order to reduce current taxable income and to provide for future retirement needs, and (ii) to provide a benefit to each Participant approximately equal to the benefit the
Participant would have received under the Investment Plan if the Participant did not elect to defer Compensation under the Deferred Compensation Program but instead contributed an applicable portion of such amount to the Investment Plan. 

ARTICLE 2 

PARTICIPATION; ELECTIONS 

2.1 Participation. Each Eligible Employee shall participate in the Deferred Compensation Program at the time set forth in Article
3 of the Wrap Plan. 
 2.2 Elections. Each Participant shall make elections with regard to the deferral of Compensation
and the time and form of payments under the Deferred Compensation Program in accordance with Articles 4 and 6 of the Wrap Plan. 

ARTICLE 3 

DEFERRAL CONTRIBUTIONS 

Each Plan Year, a Participant, electing to defer Compensation under the Deferred Compensation Program for such Plan Year, must defer a
minimum of $5,000 and may defer up to a maximum of 50% of his or her Compensation for such Plan Year. 
 ARTICLE 4

 MATCHING CONTRIBUTIONS 

4.1 Amount of Matching Contributions. A Participant who makes Deferral Contributions to the Deferred Compensation Program for a
Plan Year shall be entitled to a Matching Contribution on six (6) percent of the Deferral Contributions for that Plan Year. The Matching Contribution shall be determined on the same basis as matching contributions are determined for the
Investment Plan for that Plan Year and substituting the Deferral Contributions made pursuant to the Deferred Compensation Program as the Participant’s “Compensation” under the Investment Plan. 

 

 A-2 

 4.2 Vesting. A Participant shall be vested in the portion of his or her Account
attributable to Matching Contributions to the same extent as such Participant is vested in any matching contributions under the Investment Plan. 

ARTICLE 5 

ACCOUNTS; DEEMED INVESTMENTS 

5.1 Accounts. The Committee shall establish an Account for each Participant with at least three sub-accounts as follows:

 (a) a Deferred Compensation Sub-Account which shall reflect all Deferral Contributions made by the Participant for each Plan
Year, minus amounts placed in the Participating Deferral Sub-Account, together with any adjustments for income, gain or loss and any payments from such sub-account as provided herein; 

(b) a Participating Deferral Sub-Account which shall reflect the portion of the Deferral Contributions made by the Participant for each
Plan Year for which the Participant receives a Matching Contribution under the Deferred Compensation Program, together with any adjustments for income, gain or loss and any payments from such sub-account as provided herein; and 

(c) a Matching Contribution Sub-Account which shall reflect all Company Matching Contributions made under the Deferred Compensation
Program for each Plan Year, together with any adjustments for income, gain or loss and any payments from such sub-account as provided herein. 

The Committee shall establish such other sub-accounts as it deems necessary or desirable for the proper administration of the Deferred
Compensation Program. Amounts deferred by a Participant under the Deferred Compensation Program shall be credited to the Participant’s Account and relevant sub-account as soon as administratively practicable after the amounts would have
otherwise been paid to the Participant. 
 5.2 Status of Accounts. Accounts and sub-accounts established hereunder shall
be record-keeping devices utilized for the sole purpose of determining benefits payable under the Deferred Compensation Program, and will not constitute a separate fund of assets but shall continue for all purposes to be part of the general,
unrestricted assets of the Employer, subject to the claims of its general creditors. 
 5.3 Deemed Investment of Amounts
Deferred. 
 (a) Participating Deferral and Matching Contribution Sub-Account. The Participant’s Participating
Deferral and Matching Contribution Sub-Account shall be deemed invested in shares of Common Stock purchased at Fair Market Value on the date(s) on which the Deferral Contributions or Matching Contributions are credited to the Participant’s
Account. In addition, the Participant’s Participating Deferral and Matching Contribution Sub-Account shall be credited on a quarterly basis with an amount equal to the dividends that would have become payable during the deferral period if
actual purchases of Common Stock had been made, with 
  

 A-3 

 
such dividends accounted for as if invested in Common Stock as of the payable date for such dividends. Any credited shares treated as if they were purchased with dividends shall be deemed to have
been purchased at Fair Market Value on the dividend payment date. 
 (b) Deferred Compensation Sub-Account. In connection
with his or her enrollment in the Deferred Compensation Program, a Participant may elect to have earnings, gains, or losses with respect to his or her Deferred Compensation Sub-Account calculated based on the deemed investment alternatives below, in
increments of 25%, 50%, 75%, or 100%. In the event the Participant fails to make an election regarding the deemed investment of his or her Deferred Compensation Sub-Account, the Participant shall be deemed to have elected to invest 100% of his or
her Deferred Compensation Sub-Account in the Common Stock Option (as described below). The Participant’s investment election shall continue in effect unless and until modified by the Participant. Any such modification shall apply prospectively
only and shall not apply to amounts previously deferred under the Deferred Compensation Program (and related earnings). Any such modification must be made effective as of the first day of a Plan Year, and must be made prior to the first day of such
Plan Year. 
 (i) Common Stock Option. Any portion of the Deferred Compensation Sub-Account deemed invested under this
option (the “Common Stock Option”) shall be accounted for as if invested in shares of Common Stock purchased at Fair Market Value on the date on which a Deferral Contribution is credited to the Participant’s Account. The
Participant’s Deferred Compensation Sub-Account shall be credited on a quarterly basis with an amount equal to the dividends that would have become payable during the deferral period if actual purchases of Common Stock had been made, with such
dividends accounted for as if invested in Common Stock as of the payable date for such dividends. Any credited shares treated as if they were purchased with dividends shall be deemed to have been purchased at Fair Market Value on the dividend
payment date. 
 (ii) Treasury Note Option. Any portion of the Deferred Compensation Sub-Account deemed invested under
this option (the “Treasury Note Option”) shall be credited with interest at a monthly rate calculated by dividing by 12 the sum of 100 basis points plus the rate for the appropriate 10-Year Treasury Note as quoted in the Wall Street
Journal under “Consumer Savings Rates” on the Thursday closest to the end of the month or other published source of such rates as identified by the Company’s Treasury department. The appropriate 10-Year Treasury Note shall be the
Note that is the closest (in terms of months) to the date on which the interest is credited. The interest deemed to be credited to each Deferred Compensation Sub-Account shall be based on the amount credited to such Account at the beginning of each
particular month. 
 5.4 Assumed Accounts. Except as provided below, upon the Effective Date, the Assumed Accounts shall
be subject to the same investment elections, and deemed invested in the same investment options, that were controlling under the Deferred Compensation Program of the Questar Plan immediately prior to the Effective Date until a new election is made
in accordance with the terms of the Deferred Compensation Program that by its terms supersedes the prior election. Notwithstanding the preceding sentence, the following additional provisions shall apply to the deemed investment of the Assumed
Accounts: 
 (a) Questar Common Stock Fund. With respect to each Transferred Employee, any Assumed Accounts that,
immediately prior to the Effective Date, were deemed invested in the Questar Common Stock Fund under the Deferred Compensation Program of the Questar Plan, initially will be credited to the Questar Common Stock Fund under the Deferred Compensation
Program as of the Effective Date, subject to adjustment as provided in paragraph (c) below. 
  

 A-4 

 (b) Questar Treasury Note Option. With respect to each Transferred Employee, any
Assumed Accounts that, immediately prior to the Effective Date, were deemed to invested in the treasury note option under the Deferred Compensation Program of the Questar Plan, initially will be credited to the Treasury Note Option under the
Deferred Compensation Program as of the Effective Date. 
 (c) Adjustments to Questar Common Stock Fund. With respect to
the Assumed Accounts initially credited to the Questar Common Stock Fund under the Deferred Compensation Program pursuant to paragraph (a) above, each phantom share of Questar common stock credited to the Questar Common Stock Fund on behalf of
each Transferred Employee on the Effective Date shall be converted, as of the Effective Date, into phantom shares of the Company’s Common Stock and phantom shares of Questar common stock and reallocated as follows: 

(i) The number of phantom shares of the Company’s Common Stock shall be equal to the number of shares of the Company’s Common
Stock to which the Transferred Employee would have been entitled on the Effective Date had the phantom shares of Questar common stock represented actual shares of Questar common stock as of the Record Date, the resulting number of phantom shares of
the Company’s Common Stock being rounded down to the nearest whole unit. 
 (ii) The resulting number of phantom shares of
the Company’s Common Stock shall automatically be transferred from the Questar Common Stock Fund and credited to the Common Stock Option, effective as of the Effective Date. 

(iii) The resulting number of phantom shares of Questar common stock shall remain in the Questar Common Stock Fund, effective as of the
Effective Date, and shall be accounted for as if invested in shares of Questar common stock with the applicable sub-account credited on a quarterly basis with an amount equal to the dividends that would have become payable during the deferral period
if actual purchases of Questar common stock had been made, with such dividends accounted for as if invested in Questar common stock as of the payable date for such dividends. Any credited shares of Questar common stock treated as if they were
purchased with dividends shall be deemed to have been purchased at fair market value on the dividend payment date. Following the Effective Date, each Transferred Employee shall reallocate all Assumed Accounts deemed invested in the Questar Common
Stock Fund into either the Common Stock Option or the Treasury Note Option no later than December 31, 2011; provided, that any Assumed Accounts that remain deemed invested in the Questar Common Stock Fund as of December 31, 2011 shall
automatically be reallocated into the Common Stock Option as of such date. In no event shall any deemed investment allocations be permitted into the Questar Common Stock Fund on or after the Effective Date. 

 

 A-5 

 Capitalized terms used in this 5.4 that are not defined in this Deferred Compensation Program or the Plan
shall have the meaning set forth in that certain Employee Matters Agreement, by and between Questar Corporation and the Company, dated as of June 14, 2010). 

ARTICLE 6 

DISTRIBUTIONS 

All distributions of a Participant’s Account under the Deferred Compensation Program shall be made in accordance with the
Participant’s election(s) (or deemed election(s)) under Articles 4 and 6 of the Wrap Plan. 
  

 A-6 

 Exhibit B 

401(k) SUPPLEMENTAL PROGRAM 

a component Program of the 

QEP Resources, Inc. Deferred Compensation Wrap Plan 
  

 B-1 

 QEP RESOURCES, INC. 

401(k) SUPPLEMENTAL PROGRAM 

ARTICLE 1 

INTRODUCTION 

1.1 Establishment of Program. The Company hereby establishes this 401(k) Supplemental Program under the Wrap Plan, as of the
Effective Date. Unless otherwise defined herein, all capitalized terms herein shall the meanings set forth in the QEP Resources, Inc. Deferred Compensation Wrap Plan. 

1.2 Purpose. The purpose of the 401(k) Supplemental Program is to provide a benefit to a Participant approximately equal to the
benefit that the Participant would have received under the Investment Plan if the Compensation Limit were inapplicable. 

ARTICLE 2 

PARTICIPATION; ELECTIONS 

2.1 Participation. Each Eligible Employee shall participate in the 401(k) Supplemental Program at the time set forth in Article 3
of the Wrap Plan. 
 2.2 Elections. Each Participant shall make elections with regard to the deferral of Compensation and
the time and form of payments under the 401(k) Supplemental Program in accordance with Articles 4 and 6 of the Wrap Plan. 

ARTICLE 3 

DEFERRAL CONTRIBUTIONS 

Each Plan Year, a Participant electing to defer Compensation under the 401(k) Supplemental Program must defer 6% of his or her
Compensation in excess of the Compensation Limit for such Plan Year. 
 ARTICLE 4 

MATCHING CONTRIBUTIONS 

4.1 Amount of Matching Contributions. A Participant who makes Deferral Contributions to the 401(k) Supplemental Program for a Plan
Year shall be entitled to a Matching Contribution for such Plan Year in an amount determined on the same basis as matching contributions are determined for the Investment Plan, except that such Matching Contribution shall be based solely on
Compensation in excess of the Compensation Limit. 
 4.2 Vesting. A Participant shall be vested in the portion of his or
her Account attributable to Matching Contributions to the same extent as such Participant is vested in any matching contributions under the Investment Plan. 
  

 B-2 

 ARTICLE 5 

ACCOUNTS; DEEMED INVESTMENTS 

5.1 Accounts. The Committee shall establish an Account and sub-accounts for each Participant as are necessary for the proper
administration of the 401(k) Supplemental Program. Such Accounts shall reflect Deferrals Contributions and Matching Contributions made by or on behalf of the Participant, together with any adjustments for income, gain or loss and any payments from
the Account as provided herein. Deferral Contributions and related Matching Contributions shall be credited to the Participant’s Account as soon as administratively practicable after the Deferral Contribution would have otherwise been paid to
the Participant. 
 5.2 Status of Accounts. Accounts and sub-accounts established hereunder shall be record-keeping
devices utilized for the sole purpose of determining benefits payable under the 401(k) Supplemental Program, and will not constitute a separate fund of assets but shall continue for all purposes to be part of the general, unrestricted assets of the
Employer, subject to the claims of its general creditors. 
 5.3 Deemed Investment in Company Stock. The
Participant’s Account shall be deemed invested in shares of Common Stock (the “Common Stock Fund”) and shall be accounted for as if invested in shares of Common Stock purchased at Fair Market Value on the date(s) on which the Deferral
Contributions or Matching Contributions are credited to the Participant’s Account. In addition, the Participant’s Account shall be credited on a quarterly basis with an amount equal to the dividends that would have become payable during
the deferral period if actual purchases of Common Stock had been made, with such dividends accounted for as if invested in Common Stock as of the payable date for such dividends. Any credited shares treated as if they were purchased with dividends
shall be deemed to have been purchased at Fair Market Value on the dividend payment date. 
 5.4 Assumed Accounts. Except
as provided below, upon the Effective Date, the Assumed Accounts shall be subject to the same investment elections, and deemed invested in the same investment options, that were controlling under the 401(k) Supplemental Program of the Questar Plan
immediately prior to the Effective Date until a new election is made in accordance with the terms of the 401(k) Supplemental Program that by its terms supersedes the prior election. Notwithstanding the preceding sentence, the following additional
provisions shall apply to the deemed investment of the Assumed Accounts: 
 (a) Questar Common Stock Fund. With respect
to each Transferred Employee, any Assumed Accounts that, immediately prior to the Effective Date, were deemed invested in the Questar Common Stock Fund under the 401(k) Supplemental Program of the Questar Plan, initially will be credited to the
Questar Common Stock Fund under the 401(k) Supplemental Program as of the Effective Date, subject to adjustment as provided in paragraph (b) below. 

(b) Adjustments to Questar Common Stock Fund. With respect to the Assumed Accounts initially credited to the Questar Common Stock
Fund under the 401(k) Supplemental Program pursuant to paragraph (a) above, each phantom share of Questar common stock credited to the Questar Common Stock Fund on behalf of each Transferred Employee on the Effective Date shall be converted, as
of the Effective Date, into phantom shares of the Company’s Common Stock and phantom shares of Questar common stock and reallocated as follows: 

(i) The number of phantom shares of the Company’s Common Stock shall be equal to the number of shares of the Company’s Common
Stock to which the Transferred Employee would have been entitled on the Effective Date had the phantom shares of Questar common stock represented actual shares of Questar common stock as of the Record Date, the resulting number of phantom shares of
the Company’s Common Stock being rounded down to the nearest whole unit. 
  

 B-3 

 (ii) The resulting number of phantom shares of the Company’s Common Stock shall
automatically be transferred from the Questar Common Stock Fund and credited to the Common Stock Fund, effective as of the Effective Date. 

(iii) The resulting number of phantom shares of Questar common stock shall remain in the Questar Common Stock Fund, effective as of the
Effective Date, and shall be accounted for as if invested in shares of Questar common stock with the applicable sub-account credited on a quarterly basis with an amount equal to the dividends that would have become payable during the deferral period
if actual purchases of Questar common stock had been made, with such dividends accounted for as if invested in Questar common stock as of the payable date for such dividends. Any credited shares of Questar common stock treated as if they were
purchased with dividends shall be deemed to have been purchased at fair market value on the dividend payment date. Following the Effective Date, each Transferred Employee shall reallocate all Assumed Accounts deemed invested in the Questar Common
Stock Fund into the Common Stock Fund no later than December 31, 2011; provided, that any Assumed Accounts that remain deemed invested in the Questar Common Stock Fund as of December 31, 2011 shall automatically be reallocated into the
Common Stock Fund as of such date. In no event shall any deemed investment allocation be permitted into the Questar Common Stock Fund on or after the Effective Date. 

Capitalized terms used in this 5.4 that are not defined in this 401(k) Supplemental Program or the Plan shall have the meaning set forth in that certain
Employee Matters Agreement, by and between Questar Corporation and the Company, dated as of June 14, 2010). 
 ARTICLE 6

 DISTRIBUTIONS 

All distributions of a Participant’s Account under the 401(k) Supplemental Program shall be made in accordance with the
Participant’s election(s) (or deemed election(s)) under Articles 4 and 6 of the Wrap Plan. 
  

 B-4

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