Document:

EX-10.10

 Exhibit 10.10 

FORM OF INDEMNIFICATION AGREEMENT 

This Indemnification Agreement (this “Agreement”) is made and entered into as of
            , 2014, by and between Eclipse Resources Corporation, a Delaware corporation (the “Company”), and
                     (“Indemnitee”). 

BACKGROUND 
 Highly
competent persons have become more reluctant to serve corporations as directors or officers or in other capacities unless they are provided with adequate protection through insurance or adequate indemnification against inordinate risks of claims and
actions against them arising out of their service to and activities on behalf of the corporation. 
 The Board of Directors of the Company
(the “Board”) has determined that, in order to attract and retain qualified individuals, the Company will, unless certain conditions described below are met, maintain on an ongoing basis, at its sole expense, liability
insurance to protect certain persons serving the Company and its subsidiaries from certain liabilities. Although the furnishing of such insurance has been a customary and widespread practice among United States-based corporations and other business
enterprises, the Company believes that, given current market conditions and trends, such insurance may be available to it in the future only at higher premiums and with more exclusions. 

Directors, officers, and other persons in service to corporations or business enterprises are being increasingly subjected to expensive and
time-consuming litigation relating to, among other things, matters that traditionally would have been brought only against the Company or business enterprise itself. 

The Amended and Restated Certificate of Incorporation of the Company (as may be amended, the “Certificate of
Incorporation”) and the Amended and Restated Bylaws of the Company (as may be amended, the “Bylaws”) require indemnification of the officers and directors of the Company to the full extent permissible under
applicable law. Indemnitee may also be entitled to indemnification pursuant to the General Corporation Law of the State of Delaware (“DGCL”). The Certificate of Incorporation, the Bylaws, and the DGCL expressly provide that
the indemnification provisions set forth therein are not exclusive, and thereby contemplate that contracts may be entered into between the Company and members of the Board, officers, and other persons with respect to indemnification. 

The uncertainties relating to insurance and to indemnification have increased the difficulty of attracting and retaining persons to serve. The
Board has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best interests of the Company’s stockholders and that the Company should act to assure such persons that there will be increased
certainty of such protection in the future. 
 It is reasonable, prudent, and necessary for the Company contractually to obligate itself to
indemnify, and to advance expenses on behalf of, such persons to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free from undue concern that they will not be so indemnified. 

 This Agreement is a supplement to and in furtherance of the Certificate of Incorporation and
Bylaws and any resolutions adopted by the Board, and will not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder. 

Indemnitee does not regard the protection available under the Certificate of Incorporation and Bylaws and insurance as adequate in the present
circumstances; may not be willing to serve as an officer or director without adequate protection; and the Company desires Indemnitee to serve in such capacity. Indemnitee is willing to serve, continue to serve, and to take on additional service for
or on behalf of the Company on the condition that he or she be so indemnified. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing and of Indemnitee’s agreement to serve as an officer or director or both after the date
of this Agreement, the parties to this Agreement agree as follows: 
 1. Indemnification of Indemnitee. The Company hereby agrees to
defend, hold harmless, and indemnify Indemnitee to the fullest extent permitted by law, as such may be amended from time to time. In furtherance of the foregoing indemnification, and without limiting the generality thereof: 

(a) Proceedings Other Than Proceedings by or in the Right of the Company. Indemnitee will be entitled to the rights of
indemnification provided in this Agreement if, by reason of his or her Corporate Status (as defined below), the Indemnitee is, or is threatened to be made, a party to or participant in any Proceeding (as defined below) other than a Proceeding by or
in the right of the Company. Pursuant to this Section 1(a), the Company will indemnify, defend, and hold Indemnitee harmless to the fullest extent permitted by applicable law, as such may be amended from time to time (but in the case of
any such amendment, only to the extent that such amendment permits the Company to provide broader indemnification rights than permitted prior to such amendment), against all Expenses (as defined below), judgments, penalties (including, but not
limited to, excise and similar taxes), fines, and amounts paid in settlement actually and reasonably incurred by him or her, or on his or her behalf, in connection with such Proceeding or any claim, issue, or matter in any such Proceeding. 

(b) Proceedings by or in the Right of the Company. Indemnitee will be entitled to the rights of indemnification provided
in this Agreement if, by reason of his or her Corporate Status, Indemnitee is, or is threatened to be made, a party to or participant in any Proceeding brought by or in the right of the Company. The Company will indemnify, defend, and hold
Indemnitee harmless to the fullest extent permitted by applicable law, as such may be amended from time to time (but in the case of any such amendment, only to the extent that such amendment permits the Company to provide broader indemnification
rights than permitted prior to such amendment), against all Expenses actually and reasonably incurred by the Indemnitee, or on the Indemnitee’s behalf, in connection with such Proceeding; provided, however, that if applicable law
so provides, no indemnification against such Expenses will be made in respect of any claim, 

  
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issue or matter in such Proceeding as to which Indemnitee has been finally adjudged to be liable to the Company by a court of competent jurisdiction from which there is no further right of appeal
unless and to the extent that the court in which such action or suit was brought determines that such indemnification may be made. 

(c) Indemnification for Expenses of a Party Who is Wholly or Partly Successful. Notwithstanding any other provision of
this Agreement, to the extent that Indemnitee is, by reason of his or her Corporate Status, a party to and is wholly successful, on the merits or otherwise, in any Proceeding, he or she will be indemnified by the Company to the fullest extent
permitted by law, as such may be amended from time to time (but in the case of any such amendment, only to the extent that such amendment permits the Company to provide broader indemnification rights than permitted prior to such amendment), against
all Expenses actually and reasonably incurred by him or her or on his or her behalf in connection with such Proceeding. If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but
less than all claims, issues, or matters in such Proceeding, the Company will indemnify Indemnitee against all Expenses actually and reasonably incurred by him or her or on his or her behalf in connection with each successfully resolved claim,
issue, or matter. For purposes of this Section 1(c) and without limitation, the termination of any claim, issue, or matter in such a Proceeding by dismissal, with or without prejudice, will be deemed to be a successful result as to such
claim, issue, or matter. 
 2. Additional Indemnity. In addition to, and without regard to any limitations on, the indemnification
provided for in Section 1 of this Agreement, the Company will and hereby does indemnify, defend, and hold harmless Indemnitee against all Expenses, judgments, penalties (including, but not limited to, excise and similar taxes), fines,
and amounts paid in settlement actually and reasonably incurred by him or her or on his or her behalf if, by reason of his or her Corporate Status, he or she is, or is threatened to be made, a party to or participant in any Proceeding (including a
Proceeding by or in the right of the Company), including, without limitation, all liability arising out of the sole, contributory, comparative or other negligence, or active or passive wrongdoing of Indemnitee. Except as provided in this
Section 2 or in Section 9, the only limitation that will exist upon the Company’s obligations pursuant to this Agreement will be that the Company will not be obligated to make any payment to Indemnitee that is finally
adjudged (under the procedures, and subject to the presumptions, set forth in Sections 6 and 7) to be prohibited by applicable law. 

3. Contribution. 

(a) Regardless of whether the indemnification provided in Sections 1 and 2 is available, in respect of any
threatened, pending, or completed Proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such Proceeding), the Company will pay, in the first instance, the entire amount of any judgment or settlement of such
Proceeding without requiring Indemnitee to contribute to such payment, and the Company hereby waives and relinquishes any right of contribution it may have against Indemnitee. The Company will not, without prior written consent of Indemnitee, enter
into any settlement of any Proceeding in which the Company is jointly liable with 

  
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Indemnitee (or would be if joined in such Proceeding) unless such settlement solely involves the payment of money and includes a full, unconditional and final release of all claims that are or
were asserted against Indemnitee in such Proceeding. In addition, the Company will not, without prior written consent of Indemnitee, seek or agree to a bar order that extinguishes Indemnitee’s rights to indemnification or advancement of
Expenses, whether under this Agreement or otherwise. 
 (b) Without diminishing or impairing the obligations of the Company
set forth in Section 3(a), if, for any reason, Indemnitee elects or is required to pay all or any portion of any judgment or settlement in any Proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in
such Proceeding), the Company will contribute to the amount of Expenses, judgments, penalties (including, but not limited to, excise and similar taxes), fines, and amounts paid in settlement actually and reasonably incurred and paid or payable by
Indemnitee in proportion to the relative benefits received from the transaction that gave rise to such Proceeding by (i) the Company and all officers, directors, or employees of the Company, other than Indemnitee, who are jointly liable with
Indemnitee (or would be if joined in such Proceeding), on the one hand; and (ii) Indemnitee, on the other hand; provided, however, that the proportion determined on the basis of relative benefit may, to the extent necessary to
conform to law, be further adjusted by reference to the relative fault of the Company and all officers, directors, or employees of the Company other than Indemnitee who are jointly liable with Indemnitee (or would be if joined in such Proceeding),
on the one hand, and Indemnitee, on the other hand, in connection with the events that resulted in such Expenses, judgments, penalties (including, but not limited to, excise and similar taxes), fines, or settlement amounts, as well as any other
equitable considerations that applicable law may require to be considered. The relative fault of the Company and all officers, directors, or employees of the Company, other than Indemnitee, who are jointly liable with Indemnitee (or would be if
joined in such Proceeding), on the one hand, and Indemnitee, on the other hand, will be determined by reference to, among other things, the degree to which their actions were motivated by intent to gain personal profit or advantage, the degree to
which their liability is primary or secondary, and the degree to which their conduct is active or passive. 
 (c) The Company
hereby agrees to fully indemnify, defend, and hold harmless Indemnitee from any claims of contribution that may be brought by officers, directors, or employees of the Company, other than Indemnitee, who may be jointly liable with Indemnitee. 

(d) To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is
unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, will contribute to the amount incurred by Indemnitee, whether for judgments, fines, penalties, excise and similar taxes, and amounts paid or to be
paid in settlement or for Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to reflect
(i) the relative benefits received by the Company and Indemnitee as a result of the event(s) or transaction(s) giving cause to such Proceeding; and (ii) the relative fault of the Company (and its directors, officers, employees, and agents)
and Indemnitee in connection with such event(s) or transaction(s). 

  
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 4. Indemnification for Expenses of a Witness. Notwithstanding any other provision of this
Agreement, to the extent that Indemnitee is, by reason of his or her Corporate Status, a witness or otherwise involved in any Proceeding to which Indemnitee is not a party, the Company will indemnify, defend, and hold harmless the Indemnitee against
all Expenses actually and reasonably incurred by him or her or on his or her behalf in connection therewith. 
 5. Advancement of
Expenses. To the fullest extent permitted by law, as such may be amended from time to time (but in the case of any such amendment, only to the extent that such amendment permits the Company to provide broader advancement rights than permitted
prior to such amendment), the Company will advance all Expenses incurred by or on behalf of Indemnitee in connection with any Proceeding by reason of Indemnitee’s Corporate Status within 10 days after the receipt by the Company of a statement
or statements from Indemnitee requesting such advance or advances from time to time, whether prior to or after final disposition of such Proceeding. Such statement or statements will reasonably evidence the Expenses incurred by Indemnitee and will
include or be preceded or accompanied by an undertaking by or on behalf of Indemnitee to repay any Expenses advanced if it is ultimately determined that Indemnitee is not entitled to be indemnified against such Expenses. Any advances and
undertakings to repay pursuant to this Section 5 will be unsecured and interest-free and any advances will be made without regard to Indemnitee’s ability to repay the Expenses. Indemnitee will qualify for and be entitled to receive
such advances solely upon execution and delivery to the Company of the statement or statements and the undertaking referred to in this Section 5. 

6. Procedures and Presumptions for Determination of Entitlement to Indemnification. It is the intent of this Agreement to secure for
Indemnitee rights of indemnification that are as favorable as may be permitted under the DGCL and public policy of the State of Delaware. Accordingly, the parties agree that the following procedures and presumptions will apply in the event of any
question as to whether Indemnitee is entitled to indemnification under this Agreement: 
 (a) To obtain indemnification under
this Agreement, Indemnitee must submit to the Company a written request, including such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled
to indemnification. The Secretary of the Company will, promptly upon receipt of such a request for indemnification, advise the Board that Indemnitee has requested indemnification. Notwithstanding the foregoing, any failure by Indemnitee to provide
such a request to the Company, or to provide such a request in a timely fashion, shall not relieve the Company of any liability that it may have to Indemnitee unless, and to the extent that, such failure actually prejudices the interests of the
Company. Any Expenses incurred by, or in the case of retainers, to be incurred by, the Indemnitee in connection with the Indemnitee’s request for indemnification hereunder shall be borne by the Company. 

  
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 (b) If the Company shall be obligated to pay the Expenses of any Proceeding
against Indemnitee, the Company shall be entitled to assume and control the defense of such Proceeding (with counsel consented to by Indemnitee, which consent shall not be unreasonably withheld), upon the delivery to Indemnitee of written notice of
its election so to do. After delivery of such notice, consent to such counsel by Indemnitee and the retention of such counsel by the Company, the Company will not be liable to Indemnitee under this Agreement for any fees of counsel subsequently
incurred by Indemnitee with respect to the same Proceeding; provided, however, that if (i) the employment of separate counsel by Indemnitee has been previously authorized by the Company, (ii) Indemnitee or counsel selected by
the Company shall have concluded that there may be a conflict of interest between the Company and Indemnitee or among Indemnitees jointly represented in the conduct of any such defense; or (iii) the Company shall not, in fact, have employed
counsel, to which Indemnitee has consented as aforesaid, to assume the defense of such Proceeding, then the reasonable fees and expenses of Indemnitee’s counsel shall be at the expense of the Company. Notwithstanding the foregoing, Indemnitee
shall have the right to employ counsel in any such Proceeding at Indemnitee’s expense. 
 (c) The Company will be
entitled to participate in the Proceeding at its own expense. The Company will not, without prior written consent of Indemnitee, effect any settlement of a claim against Indemnitee in any threatened or pending Proceeding unless such settlement
solely involves the payment of money by any Person (as defined below) other than Indemnitee and includes a full, unconditional and final release of all claims that are or were asserted against Indemnitee in such Proceeding. In addition, the Company
will not, without prior written consent of Indemnitee, seek or agree to a bar order that extinguishes Indemnitee’s rights to indemnification or advancement of Expenses, whether under this Agreement or otherwise. 

(d) Upon written request by Indemnitee for indemnification pursuant to the first sentence of Section 6(a), a
determination, if required by applicable law, with respect to Indemnitee’s entitlement to indemnification will be made in the specific case: (i) if a Change in Control (as defined below) shall have occurred, by Independent Counsel (as
defined below) in a written opinion to the Board, a copy of which shall be delivered to Indemnitee; or (ii) if a Change in Control shall not have occurred, (A) by a majority vote of the Disinterested Directors (as defined below), even
though less than a quorum of the Board, (B) by a committee of Disinterested Directors designated by a majority vote of the Disinterested Directors, even though less than a quorum of the Board, (C) if there are no such Disinterested
Directors or, if such Disinterested Directors so direct, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee or (D) if so directed by the Board, by the stockholders of the Company.
Indemnitee will reasonably cooperate with the Person making the determination with respect to Indemnitee’s entitlement to indemnification, including providing to such Person upon reasonable advance request any documentation or information that
is not privileged or otherwise protected from disclosure and that is reasonably available to Indemnitee and reasonably necessary to such determination. Any Expenses actually and reasonably incurred by Indemnitee in so cooperating with the Person
making such determination will be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the Company hereby indemnifies, defends, and agrees to hold Indemnitee harmless from any such costs
and Expenses. If it is determined that Indemnitee is entitled to indemnification requested by Indemnitee in a written application submitted to the Company pursuant to Section 6, payment to Indemnitee will be made within 60 days after the
written request for indemnification submitted by Indemnitee. 

  
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 (e) In the event the determination of entitlement to indemnification is to be
made by Independent Counsel pursuant to Section 6(d), the Independent Counsel will be selected as provided in this Section 6(e). If a Change in Control has not occurred, the Independent Counsel will be selected by the Board,
and the Company will give written notice to Indemnitee advising him or her of the identity of the Independent Counsel so selected. If a Change in Control has occurred, the Independent Counsel will be selected by Indemnitee (unless Indemnitee
requests that such selection be made by the Board, in which event the preceding sentence will apply), and Indemnitee will give written notice to the Company advising it of the identity of the Independent Counsel so selected. In either event,
Indemnitee or the Company, as the case may be, may, within ten days after such written notice of such selection has been received, deliver to the Company or to Indemnitee, as the case may be, a written objection to such selection; provided,
however, that such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent Counsel” as defined in this Agreement, and the objection will set forth with
particularity the factual basis of such assertion. Absent a proper and timely objection, the person so selected will act as Independent Counsel. If a written objection is made and substantiated, the Independent Counsel so selected may not serve as
Independent Counsel unless and until such objection is withdrawn or a court of competent jurisdiction has determined that such objection is without merit. The Company agrees to pay the reasonable fees and expenses of the Independent Counsel and to
fully indemnify such Independent Counsel against any and all Expenses, claims, liabilities, and damages arising out of or relating to this Agreement or its engagement pursuant to this Agreement. 

(f) In making a determination with respect to entitlement to indemnification under this Agreement, the Person making such
determination will presume that Indemnitee is entitled to indemnification under this Agreement. Anyone seeking to overcome this presumption will have the burden of proof and the burden of persuasion by clear and convincing evidence. Neither the
failure of the Company (including the Board, Independent Counsel or its stockholders) to have made a determination prior to the commencement of any action pursuant to this Agreement that indemnification of Indemnitee is proper in the circumstances
because Indemnitee has met the applicable standard of conduct set forth in the DGCL, nor an actual determination by the Company (including the Board, Independent Counsel or its stockholders) that Indemnitee has not met such applicable standard of
conduct, will be a defense to the action or create a presumption that Indemnitee has not met the applicable standard of conduct. 

(g) Indemnitee will be deemed to have acted in good faith if Indemnitee’s action is based on the records or books of
account of the Enterprise (as defined below), including financial statements, or on information supplied to Indemnitee by directors, officers, employees or agents of the Enterprise in the course of their duties, or on the advice of legal counsel for
the Enterprise or on information or records given or reports made to the Enterprise by an independent certified public accountant or by an appraiser 

  
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or other expert selected by the Enterprise. In addition, the knowledge or actions, or failure to act, of any director, officer, agent, or employee of the Enterprise will not be imputed to
Indemnitee for purposes of determining the right to indemnification under this Agreement. Regardless of whether the foregoing provisions of this Section 6(g) are satisfied, it will in any event be presumed that Indemnitee has at all
times acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the Company. Anyone seeking to overcome this presumption will have the burden of proof and the burden of persuasion by clear and
convincing evidence. 
 (h) If the Person empowered or selected under Section 6(d) to determine whether
Indemnitee is entitled to indemnification has not made a determination within 30 days after receipt by the Company of the request therefor, the requisite determination of entitlement to indemnification will be deemed to have been made and Indemnitee
will be entitled to such indemnification absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for
indemnification or (ii) a prohibition of such indemnification under applicable law. 
 (i) Indemnitee will cooperate
with the Person making such determination with respect to Indemnitee’s entitlement to indemnification, including providing to such Person upon reasonable advance request any documentation or information that is not privileged or otherwise
protected from disclosure and that is reasonably available to Indemnitee and reasonably necessary to such determination. Any Independent Counsel, member of the Board, or stockholder of the Company will act reasonably and in good faith in making a
determination regarding the Indemnitee’s entitlement to indemnification under this Agreement. Any Expenses actually and reasonably incurred by Indemnitee in so cooperating with the Person making such determination will be borne by the Company
(irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the Company hereby agrees to indemnify, defend, and hold Indemnitee harmless therefrom. 

(j) The Company acknowledges that a settlement or other disposition short of final judgment may be successful if it permits a
party to avoid expense, delay, distraction, disruption, or uncertainty. In the event that any Proceeding to which Indemnitee is a party is resolved in any manner other than by adverse judgment against Indemnitee (including, without limitation,
settlement of such Proceeding with or without payment of money or other consideration), it will be presumed that Indemnitee has been successful on the merits or otherwise in such Proceeding. Anyone seeking to overcome this presumption will have the
burden of proof and the burden of persuasion by clear and convincing evidence. 
 (k) The termination of any Proceeding or of
any claim, issue, or matter therein, by judgment, order, settlement, or conviction, or upon a plea of nolo contendere or its equivalent, will not (except as otherwise expressly provided in this Agreement) of itself adversely affect the right
of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner that he or she reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal
Proceeding, that Indemnitee had reasonable cause to believe that his or her conduct was unlawful. 

  
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 7. Remedies of Indemnitee. 

(a) In the event that (i) a determination is made pursuant to Section 6 of this Agreement that Indemnitee is
not entitled to indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 5 of this Agreement, (iii) no determination of entitlement to indemnification is made pursuant to
Section 6(d) of this Agreement within 30 days after receipt by the Company of the request for indemnification or (iv) payment of indemnification is not made pursuant to this Agreement within 60 days after receipt by the Company of a
written request therefor, Indemnitee may at any time thereafter bring suit against the Company to enforce Indemnitee’s claim to such indemnification or payment. The Company will not oppose Indemnitee’s right to bring such suit. 

(b) In the event that a determination has been made pursuant to Section 6(d) of this Agreement that Indemnitee is
not entitled to indemnification, any judicial proceeding commenced pursuant to this Section 7 will be conducted in all respects as a de novo trial on the merits, and Indemnitee will not be prejudiced by reason of the adverse
determination under Section 6(d). 
 (c) If a determination has been made pursuant to Section 6(d) of
this Agreement that Indemnitee is entitled to indemnification, the Company will be bound by such determination in any judicial proceeding commenced pursuant to this Section 7, absent (i) a misstatement by Indemnitee of a material
fact, or an omission of a material fact necessary to make Indemnitee’s misstatement not materially misleading in connection with the application for indemnification, or (ii) a prohibition of such indemnification under applicable law. 

(d) The Company will indemnify, defend, and hold harmless Indemnitee against any and all Expenses and, if requested by
Indemnitee, will (within 30 days after receipt by the Company of a written request therefor) advance, to the extent not prohibited by law, such Expenses to Indemnitee, that are actually and reasonably incurred by Indemnitee in connection with any
action brought by Indemnitee (i) for indemnification or advancement of Expenses from the Company under this Agreement, (ii) to recover damages for breach of this Agreement or (iii) related to any directors’ and officers’
liability insurance policies maintained by the Company, regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification, advancement of Expenses, or insurance recovery, as the case may be. 

(e) The Company will be precluded from asserting in any proceeding commenced pursuant to this Section 7 that the
procedures and presumptions of this Agreement are not valid, binding, and enforceable and will stipulate in any court of competent jurisdiction that the Company is bound by all the provisions of this Agreement. 

  
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 (f) Notwithstanding anything in this Agreement to the contrary, no determination
as to entitlement to indemnification under this Agreement will be required to be made prior to the final disposition of the Proceeding. 

8. Non-Exclusivity; Survival of Rights; Insurance; Subrogation. 

(a) The rights of indemnification as provided by this Agreement will not be deemed exclusive of any other rights to which
Indemnitee may at any time be entitled under applicable law, the Certificate of Incorporation, the Bylaws, any agreement, a vote of stockholders, a resolution of directors, or otherwise. No amendment, alteration, or repeal of this Agreement or of
any provision of this Agreement will limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee in his or her Corporate Status prior to such amendment, alteration, or repeal. To the
extent that a change in the DGCL, whether by statute or judicial decision, permits greater indemnification than would be afforded at the time of such change under the Certificate of Incorporation, the Bylaws, or this Agreement, it is the intent of
the parties to this Agreement that Indemnitee will enjoy by this Agreement the greater benefits so afforded by such change. No right or remedy conferred by this Agreement is intended to be exclusive of any other right or remedy, and every other
right and remedy will be cumulative and in addition to every other right and remedy given under this Agreement or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy under this Agreement, or
otherwise, will not prevent the concurrent assertion or employment of any other right or remedy. 
 (b) The Company hereby
covenants and agrees that, so long as Indemnitee serves in a Corporate Status and thereafter so long as Indemnitee may be subject to any possible Proceeding by reason of the fact that Indemnitee served in a Corporate Status, the Company, subject to
Section 8(d), will maintain in full force and effect liability insurance to protect Indemnitee from personal liabilities incurred by reason of the fact that Indemnitee is or was serving in such capacity (“Liability
Insurance”) in reasonable amounts from established and reputable insurers. 
 (c) In all applicable policies of
Liability Insurance, Indemnitee will be named as an insured and will be covered by such policies in accordance with their terms to the maximum extent of the coverage available for any director, officer, employee, or agent or fiduciary under such
policy or policies. 
 (d) Notwithstanding the foregoing, the Company will have no obligation to maintain Liability Insurance
if the Company determines in good faith that such insurance is not reasonably available, the premium costs for such insurance are disproportionate to the amount of coverage provided, the coverage provided by such insurance is limited by exclusions
so as to provide an insufficient benefit, or Indemnitee is covered by similar insurance maintained by a subsidiary of the Company or by another Person pursuant to a contractual obligation owed to the Company. The Company shall provide at least 30
days’ notice to Indemnitee prior to ceasing the maintenance of Liability Insurance. The Company’s decision whether or not to adopt and maintain such insurance will not affect in any way its obligations to indemnify the Indemnitee under
this Agreement or otherwise. 

  
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 (e) Following the receipt of a notice of a claim pursuant to the terms of this
Agreement, the Company will give prompt notice of the commencement of such Proceeding to the insurers in accordance with the procedures set forth in the respective policies. The Company will thereafter take all necessary or desirable action to cause
such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such Proceeding in accordance with the terms of such policies. 

(f) Except as set forth in Section 8(g) below, in the event of any payment under this Agreement, the Company will
be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who will execute all papers required and take all action reasonably necessary to secure such rights, including execution of such documents as are necessary
to enable the Company to bring suit to enforce such rights. 
 (g) The Company hereby acknowledges that Indemnitee may have
rights to indemnification or advancement of Expenses or insurance provided by one or more Persons with whom or which the Indemnitee may be associated [(including, without limitation, any Sponsor Entity)] (collectively, the “Third Party
Indemnitors”). The Company hereby agrees that (i) it is the indemnitor of first resort and that the obligations of the Company to Indemnitee are primary and any obligation of the Third Party Indemnitors to provide indemnification
for or advancement of Expenses incurred by Indemnitee are secondary, (ii) the Indemnitee’s right to indemnification under this Agreement, and the Certificate of Incorporation and the Bylaws, including the right to advancement of Expenses,
indemnification, and contribution, shall not be diminished, modified, qualified, or otherwise affected by any right of Indemnitee against any Third Party Indemnitor, and (iii) it irrevocably waives, relinquishes, and releases the Third Party
Indemnitors from any and all claims against the Third Party Indemnitors for contribution, subrogation, or any other recovery of any kind in respect thereof. The Company further agrees that no advancement or payment by the Third Party Indemnitors on
behalf of the Indemnitee with respect to any claim for which Indemnitee has sought indemnification from the Company shall affect the foregoing and the Third Party Indemnitors shall have the right of contribution and be subrogated to the extent of
such advancement or payment to all of the rights of recovery of Indemnitee against the Company. The Company and Indemnitee agree that the Third Party Indemnitors are third party beneficiaries of the terms of this Section 8(g). 

9. Exception to Right of Indemnification. Notwithstanding any provision in this Agreement, the Company will not be obligated under this
Agreement to make any indemnification in connection with: 
 (a) any claim made against Indemnitee for which payment has
actually been made to or on behalf of Indemnitee under any insurance policy held by the Company or other indemnity provision, except with respect to any excess beyond the amount paid under any insurance policy or other indemnity provision;
provided, however, that the foregoing shall not affect the rights of Indemnitee or the Third Party Indemnitors set forth in Section 8(g) above; 

  
 -11- 

 (b) any claim made against Indemnitee for an accounting of profits made from the
purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within the meaning of Section 16(b) of the Exchange Act (as defined below) or similar provisions of state law; or 

(c) except as otherwise provided in Section 7, any Proceeding (or any part of any Proceeding) initiated by
Indemnitee [or any Sponsor Entity], including any Proceeding (or any part of any Proceeding) initiated by Indemnitee [or any Sponsor Entity] against the Company or its directors, officers, employees, or other indemnitees, unless (i) the Board
authorized the Proceeding (or such part of any Proceeding) prior to its initiation, (ii) such indemnification is expressly required to be made by applicable law or (iii) the Company provides the indemnification, in its sole discretion,
pursuant to the powers vested in the Company under applicable law. 
 10. Duration of Agreement. All agreements and obligations of
the Company contained in this Agreement will continue during the period Indemnitee is an officer or director of the Company (or is or was serving at the request of the Company as a director, officer, employee or agent of another Person) and will
continue thereafter so long as Indemnitee is, or may be made, the subject to any Proceeding (or any proceeding commenced under Section 7) by reason of his or her Corporate Status, regardless of whether he or she is acting or serving in
any such capacity at the time any liability or Expense is incurred for which indemnification can be provided under this Agreement. This Agreement will be binding upon and inure to the benefit of and be enforceable by the parties and their respective
successors (including any direct or indirect successor by purchase, merger, consolidation, reorganization, or otherwise to all or a majority of the business, assets or income or revenue generating capacity of the Company), assigns, spouses, heirs,
executors, and personal and legal representatives. 
 11. Successors and Binding Agreement. The Company shall require any successor
(whether direct or indirect, by purchase, merger, consolidation, reorganization, or otherwise) to all or a majority of the business, assets, or income or revenue generating capacity of the Company, by agreement in form and substance reasonably
satisfactory to Indemnitee, to expressly assume and agree to perform this Agreement in the same manner and to the same extent the Company would be required to perform if no such succession had taken place. This Agreement shall be binding upon and
inure to the benefit of the Company and any successor to the Company by operation of law or otherwise. 
 12. Enforcement. 

(a) The Company expressly confirms and agrees that it has entered into this Agreement and assumes the obligations imposed on it
by this Agreement in order to induce Indemnitee to serve as an officer or director of the Company, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving as an officer or director of the Company. 

  
 -12- 

 (b) Subject to Section 8(a) hereof, this Agreement constitutes the
entire agreement between the parties hereto with respect to the matter hereof and supersedes all prior written and oral, and contemporaneous oral, agreements, negotiations, and understandings, express or implied, between the parties with respect to
the subject matter hereof. This Section 12(b) will not be construed to limit any other rights Indemnitee may have under the Certificate of Incorporation, the Bylaws, applicable law or otherwise. 

13. Period of Limitations. No legal action may be brought and no cause of action may be asserted by or in the right of the Company
against Indemnitee, Indemnitee’s estate, spouse, heirs, executors, or personal or legal representatives after the expiration of two years from the date of accrual of such cause of action, and any claim or cause of action of the Company will be
extinguished and deemed released, unless asserted by the timely filing of a legal action within such two year period; provided, however, that if any shorter period of limitations is otherwise applicable to any such cause of action,
such shorter period will govern. 
 14. Definitions. For purposes of this Agreement: 

(a) “Corporate Status” describes the status of a person who is or was a director, officer, manager,
partner, trustee, employee, agent, or fiduciary of the Enterprise that such person is or was serving at the express request of the Company and includes, without limitation, the status of such person as an advisor to the Enterprise prior to the
commencement of service in any other Corporate Status. 
 (b) “Change in Control” will be deemed to
occur upon the earliest to occur after the date of this Agreement of any of the following events: 
 (i) any Acquiring Person
(as defined below) is or becomes the Beneficial Owner (as defined below), directly or indirectly, of securities of the Company representing more than 50% of the combined voting power of the Company’s then outstanding securities; 

(ii) during any period of two consecutive years (not including any period prior to the execution of this Agreement),
individuals who at the beginning of such period constitute the Board, and any new director (other than a director designated by a Person who has entered into an agreement with the Company to effect a transaction described in paragraphs (i),
(iii) or (iv) of this definition) whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors
at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority of the members of the Board; 

(iii) the effective date of a merger or consolidation of the Company with any other Person, 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) more than 

  
 -13- 

 
50% of the combined voting power of the voting securities of the surviving Person outstanding immediately after such merger or consolidation and with the power to elect at least a majority of the
board of directors or other governing body of such surviving Person; 
 (iv) the approval by the stockholders of the Company
of a complete liquidation of the Company or an agreement for the sale or disposition by the Company of all or a majority of the Company’s assets or income or revenue-generating capacity; or 

(v) there occurs any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule
14A of Regulation 14A (or a response to any similar item on any similar schedule or form) promulgated under the Exchange Act, whether or not the Company is then subject to such reporting requirement. 

For purposes of the foregoing, the following terms will have the following meanings: 

(A) “Acquiring Person” will mean a “person” or “group” within the meaning of
Sections 13(d) and 14(d) of the Exchange Act; provided, however, that Acquiring Person will exclude (i) the Company, (ii) any trustee or other fiduciary holding securities under an employee benefit plan of the Company, and
(iii) any Person owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company. 

(B) “Beneficial Owner” will have the meaning given to such term in Rule 13d-3 under the Exchange Act;
provided, however, that Beneficial Owner will exclude any Person otherwise becoming a Beneficial Owner by reason of the stockholders of the Company approving a merger of the Company with another Person. 

(c) “Disinterested Director” means a director of the Company who is not and was not a party to the
Proceeding in respect of which indemnification is sought by Indemnitee. 
 (d) “Enterprise” means the
Company and any other Person that Indemnitee is or was serving at the express request of the Company. 
 (e)
“Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 (f)
“Expenses” include all reasonable attorneys’ fees, accountants’ fees, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses, duplicating costs, printing and binding costs,
telephone charges, postage, delivery service fees, any federal, state, local or foreign taxes imposed on Indemnitee as a result of the actual or deemed receipt of any payment under this Agreement (including taxes that may be imposed upon the actual
or deemed receipt of payments under this Agreement with 

  
 -14- 

 
respect to the imposition of federal, state, local or foreign taxes), and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending,
preparing to prosecute or defend, investigating, participating, or being or preparing to be a witness in a Proceeding, including reasonable compensation for time spent by Indemnitee in connection with the prosecution, defense, preparation to
prosecute or defend, investigation, participation, preparation or involvement as a witness, or appeal of a Proceeding or action for indemnification for which Indemnitee is not otherwise compensated by the Company or any third party.
“Expenses” also include expenses incurred in connection with any appeal resulting from any Proceeding, including without limitation the premium, security for, and other costs relating to any cost bond, supersedeas bond, or other appeal
bond or its equivalent. “Expenses,” however, do not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee. 

(g) “Independent Counsel” means a law firm, or a member of a law firm, that is experienced in matters
of corporation law and neither presently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any matter material to either such party (other than with respect to matters concerning Indemnitee under
this Agreement or of other indemnitees under similar indemnification agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification under this Agreement. Notwithstanding the foregoing, the term
“Independent Counsel” will not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine
Indemnitee’s rights under this Agreement. 
 (h) “Person” means any individual, corporation,
partnership, limited liability company, trust, benefit plan, governmental or quasi-governmental agency, and any other entity, public or private. 

(i) “Proceeding” includes any threatened, pending, or completed action, claim, suit, arbitration,
alternate dispute resolution mechanism, investigation, inquiry, administrative hearing, or any other actual, threatened, or completed proceeding, whether brought by or in the right of the Company or otherwise and whether civil, criminal,
administrative, or investigative, in which Indemnitee was, is or will be involved as a party or otherwise, by reason of the fact that Indemnitee is or was acting in his or her Corporate Status, by reason of any action taken by him or her or of any
inaction on his or her part while acting in his or her Corporate Status; in each case whether or not he or she is acting or serving in any such capacity at the time any liability or expense is incurred for which indemnification can be provided under
this Agreement; including any Proceeding pending on or before the date of this Agreement, but excluding any Proceeding initiated by an Indemnitee pursuant to Section 7 of this Agreement to enforce his or her rights under this Agreement.

 [Insert for any Indemnittee appointed by the EnCap Funds (j) “Sponsor Entities” means
(i) each of Eclipse Holdings, L.P. (“Eclipse Holdings”), EnCap Energy Capital Fund VIII, L.P. (“EnCap VIII”), EnCap Energy Capital Fund VIII Co-Investors, L.P. (“EnCap VIII
Co-Invest”), EnCap Energy Capital Fund IX, L.P. (“EnCap IX” 

  
 -15- 

 
and, together with EnCap VIII and EnCap VIII Co-Invest, the “EnCap Funds”), and (ii) any affiliate of Eclipse Holdings or any of the EnCap Funds and any investment
fund or other Person advised or managed thereby; provided, however, that neither the Company nor any of its subsidiaries shall be considered Sponsor Entities hereunder.] 

15. Severability. The invalidity or unenforceability of any provision of this Agreement will in no way affect the validity or
enforceability of any other provision. Without limiting the generality of the foregoing, this Agreement is intended to confer upon Indemnitee indemnification rights to the fullest extent permitted by applicable law. In the event any provision of
this Agreement conflicts with any applicable law, such provision will be deemed modified, consistent with the aforementioned intent, to the extent necessary to resolve such conflict. 

16. Modification and Waiver. No supplement, modification, termination, or amendment of this Agreement will be binding unless executed
in writing by each of the parties. No waiver of any of the provisions of this Agreement will be deemed or will constitute a waiver of any other provisions of this Agreement (whether or not similar) nor will such waiver constitute a continuing
waiver. This Agreement cannot be modified or amended, or any provision of this Agreement waived, by course of conduct. 
 17. Notice by
Indemnitee. Indemnitee agrees promptly to notify the Company in writing upon being served with or otherwise receiving any summons, citation, subpoena, complaint, indictment, information, or other document relating to any Proceeding or matter
that may be subject to indemnification covered under this Agreement. The failure to so notify the Company will not relieve the Company of any obligation that it may have to Indemnitee under this Agreement unless and only to the extent that such
failure or delay materially prejudices the Company. 
 18. Notices. All notices and other communications given or made pursuant to
this Agreement will be in writing and will be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient,
and if not so confirmed, then on the next business day, (c) five days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one day after deposit with a nationally recognized overnight
courier, specifying next day delivery, with written verification of receipt. All communications will be sent: 
 (a) To
Indemnitee at the address set forth below Indemnitee’s signature hereto. 
 (b) To the Company at: 

Eclipse Resources Corporation 

2121 Old Gatesburg Road, Suite 110 

State College, Pennsylvania 16803 

Attention: Corporate Secretary 

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

  
 -16- 

 19. Counterparts. This Agreement may be executed in two or more counterparts, each of
which will be deemed an original, but all of which together will constitute one and the same Agreement. This Agreement may also be executed and delivered by facsimile signature or other electronic means and in two or more counterparts, each of which
will be deemed an original, but all of which together will constitute one and the same instrument. 
 20. Rules of Construction. 

(a) The headings of the paragraphs of this Agreement are inserted for convenience only and will not be deemed to constitute
part of this Agreement or to affect the construction of this Agreement. 
 (b) Time is of the essence with respect to this
Agreement. 
 (c) Unless the context otherwise requires, references to “Sections” and “Exhibits” are to
Sections of, and Exhibits to, this Agreement. 
 (d) This Agreement will be liberally construed in favor of Indemnitee. 

(e) Use of the word “or” will not be exclusive. 

(f) Use of defined terms in the singular will include the plural, and vice versa. 

21. Governing Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties will be governed by, and
construed and enforced in accordance with, the Federal laws of the United States of America and the laws of the State of Delaware, without regard to its conflict of laws rules or any other principle that could result in the application of the laws
of any other jurisdiction. The Company and Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement will be brought only in the Court of Chancery of the State
of Delaware (the “Delaware Court”) and not in any other state or Federal court in the United States of America or any court in any other country, (ii) consent to submit to the exclusive jurisdiction of the Delaware Court
for purposes of any action or proceeding arising out of or in connection with this Agreement, (iii) appoint, to the extent such party is not otherwise subject to service of process in the State of Delaware, The Corporation Trust Company, as
such party’s agent in the State of Delaware for acceptance of legal process in connection with any such action or proceeding against such party with the same legal force and validity as if served upon such party personally within the State of
Delaware, (iv) waive any objection to the laying of venue of any such action or proceeding in the Delaware Court, and (v) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court
has been brought in an improper or inconvenient forum 
 22. Section 409A. This Agreement shall be interpreted to comply with
or, to the extent possible, be exempt from Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations and guidance promulgated thereunder to the extent applicable (collectively “Section 409A”),
and all provisions of this Agreement shall be construed in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A. Solely to the extent that any otherwise required payment under this Agreement would not be

  
 -17- 

 
exempt from Section 409A (any such payment, a “Non-Exempt Payment”), such Non-Exempt Payment shall comply with the following conditions: (a) the amount of the
Non-Exempt Payment payable to Indemnitee in one calendar year shall not affect the amount of expenses eligible for payment or reimbursement in any other calendar year, whether pursuant to this Agreement or any other agreement between the Indemnitee
and the Company; (b) the Non-Exempt Payment shall be made to Indemnitee no later than the last day of the calendar year following the calendar year in which Indemnitee incurs or is deemed to have incurred the costs or Expenses giving rise to
Indemnitee’s right to the Non-Exempt Payment; and (c) Indemnitee’s right to the Non-Exempt Payment shall not be subject to liquidation or exchange for another benefit. Notwithstanding the foregoing, in the event of a bona fide dispute
regarding Indemnitee’s entitlement to the Non-Exempt Payment, payment of the Non-Exempt Payment may be delayed to a later date to the extent permitted by the Treasury Regulations under Section 409A. 

[Signature page follows.] 

  
 -18- 

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

			
	ECLIPSE RESOURCES CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	
	INDEMNITEE
	
	  

	Name:	 	  

		
	Address:	 	
	  

	  

	  

	  

 [Signature Page to Indemnification Agreement]EX-10.11

 Exhibit 10.11 

 
  

ECLIPSE RESOURCES CORPORATION 

2014 LONG-TERM INCENTIVE PLAN 

 

 Table of Contents 

 

							
	ARTICLE I	 	 GENERAL
	  	 	1	  
	Section 1.01	 	 Purposes
	  	 	1	  
	Section 1.02	 	 Definitions
	  	 	1	  
	Section 1.03	 	 Administration
	  	 	4	  
	              (a)	 	 Authority of the Committee
	  	 	4	  
	              (b)	 	 Manner of Exercise of Committee Authority
	  	 	5	  
	              (c)	 	 Limitation of Liability
	  	 	5	  
	Section 1.04	 	 Stock Subject to Plan
	  	 	5	  
	              (a)	 	 Total Shares Available
	  	 	5	  
	              (b)	 	 Stock Offered
	  	 	5	  
	Section 1.05	 	 Eligibility
	  	 	6	  
	Section 1.06	 	 Award Limitations
	  	 	6	  
	              (a)	 	 Annual Limit on Qualified Performance-Based Awards
	  	 	6	  
	              (b)	 	 Plan Limit on Awards of Incentive Stock Options
	  	 	6	  
	              (c)	 	 Annual Limit on Options and SARs
	  	 	6	  
	              (d)	 	 Annual Limit on Awards to Non-Employee Directors
	  	 	6	  
	ARTICLE II	 	 AWARDS UNDER THE PLAN
	  	 	7	  
	Section 2.01	 	 General
	  	 	7	  
	Section 2.02	 	 Options
	  	 	7	  
	              (a)	 	 Exercise Price
	  	 	7	  
	              (b)	 	 Time and Conditions of Exercise
	  	 	7	  
	              (c)	 	 Payment
	  	 	7	  
	              (d)	 	 Exercise Term
	  	 	7	  
	              (e)	 	 ISOs
	  	 	8	  
	              (f)	 	 Prohibition on Repricing
	  	 	8	  
	Section 2.03	 	 Stock Appreciation Rights
	  	 	8	  
	              (a)	 	 Right to Payment
	  	 	8	  
	              (b)	 	 Time and Conditions of Exercise
	  	 	8	  
	              (c)	 	 Prohibition on Repricing
	  	 	9	  
	Section 2.04	 	 Restricted Stock
	  	 	9	  
	              (a)	 	 Restrictions
	  	 	9	  
	              (b)	 	 Rights as Stockholder
	  	 	9	  
	              (c)	 	 Certificates for Stock
	  	 	9	  
	              (d)	 	 Dividends and Splits
	  	 	9	  
	Section 2.05	 	 Restricted Stock Units
	  	 	10	  
	Section 2.06	 	 Dividend Equivalent Rights
	  	 	10	  
	Section 2.07	 	 Stock or Other Stock-Based Awards
	  	 	10	  
	Section 2.08	 	 Performance Awards
	  	 	10	  
	              (a)	 	 Performance Conditions
	  	 	10	  
	              (b)	 	 Performance Awards Granted to Covered Employees
	  	 	10	  
	              (c)        	 	 Written Determinations
	  	 	12	  
	ARTICLE III	 	 PROVISIONS APPLICABLE TO AWARDS
	  	 	13	  
	Section 3.01	 	 Term of Awards
	  	 	13	  
	Section 3.02	 	 Forfeiture Events
	  	 	13	  
	Section 3.03	 	 No Rights as a Stockholder
	  	 	13	  
	Section 3.04	 	 Form and Timing of Payment under Awards; Deferrals
	  	 	13	  

  
 i 

							
	Section 3.05	 	 Existence of Plans and Awards
	  	 	14	  
	Section 3.06	 	 Change of Control
	  	 	14	  
	              (a)	 	 General
	  	 	14	  
	              (b)        	 	 Options and SARs
	  	 	14	  
	Section 3.07	 	 Adjustments
	  	 	15	  
	Section 3.08	 	 Substitute Awards
	  	 	15	  
	Section 3.09	 	 Transferability of Awards
	  	 	15	  
	Section 3.10	 	 Taxes
	  	 	16	  
	Section 3.11	 	 Amendment, Modification and Termination
	  	 	16	  
	Section 3.12	 	 Correction of Errors
	  	 	17	  
	Section 3.13	 	 Limitation on Rights Conferred under Plan
	  	 	17	  
	Section 3.14	 	 Unfunded Status of Awards
	  	 	17	  
	Section 3.15	 	 Nonexclusivity of this Plan
	  	 	17	  
	Section 3.16	 	 Fractional Shares
	  	 	17	  
	Section 3.17	 	 Severability
	  	 	18	  
	Section 3.18	 	 Governing Law
	  	 	18	  
	Section 3.19	 	 Conditions to Delivery of Stock
	  	 	18	  
	Section 3.20	 	 Special Provisions Related Section 409A of the Code
	  	 	18	  
	Section 3.21	 	 Plan Establishment and Term
	  	 	18	  

  
 ii 

 ARTICLE I 

GENERAL 

Section 1.01 Purposes. The purposes of the Eclipse Resources Corporation 2014 Long-Term Incentive Plan (the
“Plan”) are to assist the Company and its Affiliates to attract, retain and motivate officers, directors, employees (including prospective employees) and consultants, and to promote the alignment of their interests with those of the
Company’s stockholders. 
 Section 1.02 Definitions. Wherever the following terms are used they will have the
meanings set forth below, unless the context clearly indicates otherwise: 
 (a) “Affiliate” means a corporation,
partnership, business trust, limited liability company, or other form of business organization at least a majority of the total combined voting power of all classes of stock or other equity interests of which is directly or indirectly owned by the
Company. 
 (b) “Award” means any Option, SAR, Restricted Stock Award, Restricted Stock Unit, Dividend Equivalent Right,
Other Stock-Based Award or Performance Award, together with any other right or interest granted under the Plan to a Participant. 
 (c)
“Award Agreement” means the written document or documents by which each Award is evidenced. 
 (d) “Beneficial
Owner” has the meaning set forth in Rule 13d-3 under the Exchange Act. 
 (e) “Beneficiary” means one or more
persons, trusts or other entities designated by a Participant, in his or her most recent written beneficiary designation filed with the Committee (pursuant to a form prescribed by the Committee), to receive the benefits specified under this Plan
upon such Participant’s death, or to which Awards or other rights are transferred as permitted under Section 3.09. If upon a Participant’s death there is no designated Beneficiary or surviving designated Beneficiary, the term
Beneficiary means the Participant’s estate. 
 (f) “Board” means the Company’s Board of Directors. 

(g) “Change of Control” means, except as otherwise provided in an Award Agreement, the occurrence of any of the following:

 (i) A transaction or series of related transactions (other than an offering of Stock to the general public through a registration
statement filed with the Securities and Exchange Commission) whereby any “person” or related “group” of “persons” (as such terms are used in Sections 13(d) and 14(d)(2) of the Exchange Act) (other than the Company, any
subsidiary of the Company, any employee benefits plan (or related trust) sponsored or maintained by the Company or any subsidiary of the Company, or any “person” that, prior to such transaction, directly or indirectly controls, is
controlled by, or is under common control 

  
 1 

 
with, the Company (collectively, “Excluded Persons”)) directly or indirectly becomes the Beneficial Owner of securities of the Company representing fifty percent (50%) or
more of the combined voting power of the Company’s then outstanding securities with respect to the election of directors of the Company; or 

(ii) During any twenty-four (24) consecutive month period, the individuals who, at the beginning of such period, constitute the Board
(the “Incumbent Directors”) cease for any reason other than death to constitute at least a majority of the Board; provided, however, that except as set forth in the following sentence, an individual who becomes a
member of the Board subsequent to the beginning of the twenty-four (24) month period will be deemed to have satisfied such twenty-four (24) month requirement (and be an Incumbent Director) if such director was elected by, or on the
recommendation of or with the approval of, at least two-thirds (2/3) of the directors who then qualified as Incumbent Directors; 

(iii) The consummation of a sale or disposition of all or substantially all the Company’s assets in one or a series of related
transactions; 
 (iv) The consummation of a merger, consolidation, or reorganization of the Company or the acquisition of outstanding Stock
and as a result of or in connection with such transaction (A) fifty (50%) or more of the outstanding Stock or the voting securities of the Company outstanding immediately prior thereto or the outstanding shares of common stock or the
combined voting power of the outstanding voting securities of the surviving entity are owned, directly or indirectly, by any other person other than an Excluded Person, or (B) the voting securities of the Company outstanding immediately prior
thereto do not immediately after such transaction continue to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than fifty percent (50%) of the combined voting power of the
voting securities of the Company (or such surviving entity) outstanding immediately after such merger, consolidation, or reorganization; or 

(v) The stockholders of the Company approve a plan of complete liquidation or dissolution of the Company. 

(h) “Code” means the Internal Revenue Code of 1986, as amended. Any reference herein to a section of the Code includes any
successor provision to such section. 
 (i) “Committee” means a committee of two or more directors designated by the Board
to administer this Plan, and, to the extent the Board determines it is appropriate for the compensation realized from Awards under the Plan to be “performance-based” compensation under section 162(m) of the Code, will be a committee or
subcommittee of the Board composed of two or more members, each of whom is an “outside director” within the meaning of section 162(m) of the Code, and which, to the extent the Board determines it is appropriate for Awards under the Plan to
qualify for the exemption available under Rule 16b-3, will be a committee or subcommittee of the Board composed of two or more members, each of whom is a “non-employee director” within the meaning of Rule 16b-3. 

(j) “Covered Employee” means an Eligible Person who is both (i) designated by the Committee as likely to be a
“covered employee” within the meaning of section 162(m)(3) 

  
 2 

 
of the Code, and (ii) expected by the Committee to be the recipient of compensation (other than “performance-based compensation” under section 162(m)(3) of the Code) in excess of
$1,000,000 for the tax year of the Company with regard to which a deduction for compensation paid to such Participant under the Plan would be allowed notwithstanding section 162(m) of the Code. 

(k) “Dividend Equivalent Right” means a right granted under Section 2.06, which represents an unfunded and
unsecured promise to pay to the recipient amounts equal to all or any portion of the regular cash dividends that would be paid on shares of Stock covered by an Award if such shares had been delivered pursuant to an Award. 

(l) “Effective Date” means, notwithstanding the Plan’s establishment date described in Section 3.21, the
first date on which Awards may be granted pursuant to the Plan, which date will be immediately prior to the closing of the initial public offering of the Company. 

(m) “Eligible Person” means an individual described in Section 1.05. 

(n) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

(o) “Exercise Price” means (i) the case of Options, the price specified in the recipient’s Award Agreement as the
price-per-share of Stock at which such share can be purchased pursuant to the Option, or (ii) in the case of SARs, the price specified in the recipient’s Award Agreement as the reference price-per-share of Stock used to calculate the
amount payable upon settlement of the SAR. 
 (p) “Fair Market Value” means, with respect to Stock as of any specified
date, (i) if the Stock is traded on a national securities exchange, the closing price of the Stock on the immediately preceding date (or if no sales occur on that date, on the last preceding date on which such sales of the Stock are so
reported); (ii) if the Stock is not traded on a national securities exchange but is traded over the counter, the average between the reported high and low or closing bid and asked prices of the Stock on the most recent date on which Stock was
publicly traded; (iii) if the Stock is not publicly traded, the amount determined by the Committee in its discretion in such manner as it deems appropriate; or (iii) if the specified date is the date of an initial public offering of Stock,
the offering price under such initial public offering. In all events, Fair Market Value will be determined pursuant to a method that complies with the requirements of section 409A of the Code. 

(q) “Incentive Stock Option” or “ISO” means an Option that is intended to qualify for special Federal income
tax treatment pursuant to sections 421 and 422 of the Code, and which is so designated in the applicable Award Agreement. 
 (r)
“Non-Employee Director” means a member of the Board who is not an employee of the Company or any of its subsidiaries. 

(s) “Nonqualified Stock Option” means an Option that is not an Incentive Stock Option. 

  
 3 

 (t) “Option” means a right granted to a Participant under
Section 2.02 to purchase Stock at a specified price during specified time periods. 
 (u) “Other Stock-Based
Award” means an Award granted to a Participant under Section 2.07. 
 (v) “Participant” means, as of a
specified date, a person who holds an Award that is outstanding as of such specified date. 
 (w) “Performance Award” means
a right, granted to a Participant under Section 2.08, to receive a cash payment, Stock or other Award based upon performance criteria specified by the Committee. 

(x) “Qualified Performance-Based Award” means a Performance Award granted to a Covered Person that is intended to qualify as
“performance-based compensation” within the meaning of section 162(m)(3) of the Code. 
 (y) “Restricted Stock”
means Stock granted to a Participant under Section 2.03, that is subject to certain restrictions and to a risk of forfeiture. 

(z) “Restricted Stock Unit” means an unfunded and unsecured right granted to a Participant under Section 2.05, to
receive Stock, cash or a combination thereof at the end of a specified period, which right is subject to certain restrictions and to a risk of forfeiture. 

(aa) “Rule 16b-3” means Rule 16b-3, promulgated by the Securities and Exchange Commission under section 16 of the Exchange
Act, applicable to the Plan and Participants. 
 (bb) “Section 162(m) Transition Period” has the meaning set forth in
Section 2.08(b). 
 (cc) “Securities Act” means the Securities Act of 1933, as amended. 

(dd) “Stock” means the Company’s common stock, par value $0.01 per share, and such other securities as may be
substituted for Stock pursuant to Section 3.07. 
 (ee) “Stock Appreciation Right” or “SAR”
means a right to receive, upon exercise thereof, the excess of (i) the Fair Market Value of one share of Stock on the date of exercise over (ii) the exercise price of the SAR. 

Section 1.03 Administration. 

(a) Authority of the Committee. The Plan will be administered by the Committee except to the extent the Board elects to administer the
Plan, in which case references herein to the “Committee” are deemed to be references to the “Board.” The Committee has complete control over the administration of the Plan and has the authority in its sole
discretion to (i) exercise all of the powers granted to it under the Plan, (ii) to the extent not inconsistent with the Plan, prescribe, amend and rescind rules and regulations relating to the Plan including rules

  
 4 

 
governing its own operations, (iii) make all determinations necessary or advisable in administering the Plan, (iv) correct any defect, supply any omission and reconcile any
inconsistency in the Plan, (v) grant Awards and determine who will receive Awards, when such Awards will be granted and the terms of such Awards, including setting forth provisions with regard to the termination of a recipient’s employment
or service, (vi) accelerate the time or times at which an Award becomes vested, unrestricted or may be exercised, and (vii) waive or amend any goals, restrictions or conditions set forth in an Award Agreement, unless otherwise provided in
the Award Agreement. The determinations of the Committee will be final, binding and conclusive. By accepting any Award under the Plan, each Participant and each person claiming under or through him or her will be conclusively deemed to have
indicated his or her acceptance and ratification of, and consent to, any action taken under the Plan by the Committee. 
 (b) Manner of
Exercise of Committee Authority. Actions of the Committee may be taken by the vote of a majority of its members present at a meeting (which may be held telephonically). Any action taken by written instrument signed by a majority of the Committee
members, and action so taken, will be fully as effective as if it had been taken by a vote at a meeting. The Committee may allocate among its members and delegate to any person who is not a member of the Committee, any of its powers,
responsibilities or duties. In delegating its authority the Committee will consider the extent to which any delegation may cause an Award to fail to be deductible under section 162(m) of the Code or to fail to meet the requirements of Rule 16b-3.

 (c) Limitation of Liability. The Committee and each member thereof will be entitled to, in good faith, rely or act upon any report
or other information furnished to him or her by any officer or employee of the Company, the Company’s legal counsel, independent auditors, consultants or any other agents assisting in the administration of this Plan. Members of the Committee
and any officer or employee of the Company acting at the direction or on behalf of the Committee will not be personally liable for any action or determination taken or made in good faith with respect to this Plan, and will, to the fullest extent
permitted by law, be indemnified and held harmless by the Company with respect to any such action or determination. The foregoing right of indemnification is not exclusive of any other rights of indemnification to which the member may be entitled
under the Company’s certificate of incorporation or by-laws, each as may be amended from time to time, or otherwise. 

Section 1.04 Stock Subject to Plan. 

(a) Total Shares Available. Subject to adjustment as provided in Section 3.07, the aggregate number of shares of Stock
reserved and available for issuance under the Plan will be                     . No Award may be granted if the number of shares of Stock to be
delivered in connection with such Award exceeds the number of shares of Stock remaining available under the Plan minus the aggregate number of shares of Stock to be delivered in connection with then-outstanding Awards. If an Award is forfeited or
otherwise terminates or is canceled without the delivery of shares of Stock, shares of Stock are surrendered or withheld from an Award to satisfy any obligation of the Participant (including Federal or state taxes) or shares of Stock owned by a
Participant are tendered to pay the exercise price of an Award, then the shares of Stock covered by such forfeited, terminated or canceled Award or which are equal to the number of shares of Stock surrendered, withheld or tendered, will again become
available for issuance under the Plan. 
 (b) Stock Offered. The shares of Stock that may be delivered pursuant to Awards may be
authorized but unissued Stock or authorized and issued Stock held in the Company’s treasury, or otherwise acquired for purposes of the Plan. 

  
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 Section 1.05 Eligibility. Awards under the Plan may be made to current, former
(solely with respect to their final year of service) and prospective officers, directors, employees and consultants of the Company or an Affiliate as the Committee may select. 

Section 1.06 Award Limitations. Except as provided under this Section 1.06, there is no limit on the amount of
cash and securities (other than the overall Plan limit on shares of Stock as provided in Section 1.04) that may be subject to Awards to any Eligible Person under the Plan. 

(a) Annual Limit on Qualified Performance-Based Awards. The maximum number of shares of Stock with respect to which Qualified
Performance-Based Awards may be granted during any calendar year to any Covered Employee shall be                     (as adjusted pursuant to the
provisions of Section 3.07). The maximum payment under any Qualified Performance-Based Award denominated in dollars that may be granted during any calendar year to any Covered Employee shall be
$                     for each 12-month period contained in the performance period for such Qualified Performance-Based Award. 

(b) Plan Limit on Awards of Incentive Stock Options. Subject to adjustment as provided in Section 3.07, no more than
                    shares of Stock that can be delivered under the Plan may be deliverable pursuant to the exercise of Incentive Stock Options. 

(c) Annual Limit on Options and SARs. In any single calendar year an employee may not be granted Options or SARs covering or relating
to more than                     shares of Stock, subject to adjustment in a manner consistent with any adjustment made pursuant to
Section 3.07. 
 (d) Annual Limit on Awards to Non-Employee Directors. The maximum number of shares of Stock with respect
to which Awards may be granted during any calendar year to any Non-Employee Director shall be                      (as adjusted pursuant to the
provisions of Section 3.07). The maximum payment under any Award denominated in dollars that may be granted during any calendar year to any Non-Employee Director shall be
$                    . 

  
 6 

 ARTICLE II 

AWARDS UNDER THE PLAN 

Section 2.01 General. Options, SARs, Restricted Stock Units, Restricted Stock, Performance Awards, Other Stock-Based
Awards, or any combination thereof, may be granted to such Eligible Persons and for, covering or relating to, such number of shares of Stock as the Committee may determine. Determinations made by the Committee under the Plan need not be uniform and
Awards may be made selectively among Eligible Persons under the Plan, whether or not such Eligible Persons are similarly situated. 

Section 2.02 Options. The Committee is authorized to grant Options to Eligible Persons on the following terms and
conditions: 
 (a) Exercise Price. The exercise price per share of Stock under an Option will be determined by the Committee,
provided that the exercise price for any Option (other than an Option issued as a substitute Award pursuant to Section 3.08) will not be less than the Fair Market Value per share of Stock on the date of grant (or in the case of an
Incentive Stock Option granted to an individual who possesses more than 10 percent of the total combined voting power of all classes of stock of the Company or its parent or any subsidiary, 110% of the Fair Market Value per share of Stock on the
date of grant). 
 (b) Time and Conditions of Exercise. The Committee will determine the time or times at which an Option may be
exercised in whole or in part. Except as otherwise determined by the Committee or provided in an Award Agreement or other written agreement between the Participant and the Company or an Affiliate, in the event that the employment of a Participant
with the Company and its Affiliates (or the Participant’s service to the Company and its Affiliates) terminates for any reason, (i) all of the Participant’s Options that were exercisable on the date of such termination of employment
or service will remain exercisable for, and will otherwise terminate at the end of, a period of 90 days after the date of such termination, but in no event after the expiration date of the Options, and (ii) all of the Participant’s Options
that were not exercisable on the date of such termination will be forfeited immediately; provided, however, that such Options may become fully vested and exercisable in the discretion of the Committee. 

(c) Payment. The Committee will determine the methods by which the exercise price of any Option may be paid, the form of payment, and
the methods by which shares of Stock will be delivered or deemed to be delivered to a Participant upon his or her exercise of the Option. As determined by the Committee at or after the date of grant of an Option, the payment of the exercise price of
an Option may be made, in whole or in part, in the form of (i) cash or cash equivalents, (ii) delivery (by either actual deliver or attestation) of previously-acquired shares of Stock based on the Fair Market Value of such Stock on the
date of exercise, (iii) withholding of shares of Stock from the Option based on the Fair Market Value of such Stock on the date of exercise, (iv) broker-assisted market sales, or (v) any other cashless exercise arrangement. 

(d) Exercise Term. No Option granted under the Plan may be exercisable for more than ten years following the date of grant of the
Option. 

  
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 (e) ISOs. The Committee may grant Incentive Stock Options only to eligible employees of
the Company or its subsidiaries (as defined for this purpose in section 424(f) of the Code). The terms of any ISO granted under this Plan will comply in all respects with the provisions of section 422 of the Code. ISOs may not be granted more than
ten years after the earlier of the adoption of this Plan or the approval of this Plan by the Company’s stockholders. Notwithstanding the foregoing, the Fair Market Value of the shares of Stock subject to an ISO and the aggregate Fair Market
Value of the shares of stock of any parent or subsidiary corporation (within the meaning of sections 424(e) and (f) of the Code) subject to any other ISO (within the meaning of section 422 of the Code) of the Company or a parent or subsidiary
corporation (within the meaning of sections 424(e) and (f) of the Code) that first becomes purchasable by a Participant in any calendar year may not (with respect to that Participant) exceed $100,000, or such other amount as may be prescribed
under section 422 of the Code. Failure to comply with this provision will cause the excess to be reclassified as Nonqualified Stock Options in accordance with the Code. 

(f) Prohibition on Repricing. Except as otherwise provided in Section 3.07, without the prior approval of the stockholders
of the Company: (i) the exercise price of an Option may not be reduced, directly or indirectly, (ii) an Option may not be cancelled in exchange for cash in an amount, or other Awards with a value, that exceeds the excess, if any, of the
Fair Market Value of the shares of Stock subject to the Option at the time of the cancellation or exchange over the exercise price of such Option, or for Options or SARs with an exercise price that is less than the exercise price of the original
Option, except as permitted in accordance with Section 3.06, and (iii) the Company may not repurchase an Option for value (in cash, substitutions, cash buyouts, or otherwise) from a Participant if the current Fair Market Value of the Stock
underlying the Option is lower than the exercise price of the Option. 
 Section 2.03 Stock Appreciation Rights. The
Committee is authorized to grant SARs to Eligible Persons on the following terms and conditions: 
 (a) Right to Payment. Upon
the exercise of a SAR the Participant has the right to receive, for each share of Stock with respect to which the SAR is being exercised, the excess, if any, of (i) the Fair Market Value of one share of Stock on the date of exercise, over
(ii) the exercise price of the SAR as determined by the Committee and set forth in the Award Agreement, which exercise price will not be less than the Fair Market Value of the Stock on the date of grant of the SAR. 

(b) Time and Conditions of Exercise. The Committee will determine the time or times at which and the circumstances under which a SAR
may be exercised in whole or in part (including based on achievement of performance goals or future service requirements), the method of exercise, method of settlement, form of consideration payable in settlement, method by or forms in which Stock
will be delivered or deemed to be delivered to Participants, and any other terms and conditions of the SAR. Except as otherwise determined by the Committee or provided in an Award Agreement or other written agreement between the Participant and the
Company or an Affiliate, in the event that the employment of a Participant with the Company and its Affiliates (or the Participant’s service to the Company and its Affiliates) terminates for any reason, (i) all of the Participant’s
SARs that were exercisable on the date of such termination of employment or service will remain exercisable for, and will otherwise terminate at the end of, 

  
 8 

 
a period of 90 days after the date of such termination, but in no event after the expiration date of the SARs, and (ii) all of the Participant’s SARs that were not exercisable on the
date of such termination will be forfeited immediately; provided, however, that such SARs may become fully vested and exercisable in the discretion of the Committee. 

(c) Prohibition on Repricing. Except as otherwise provided in Section 3.07, without the prior approval of the stockholders
of the Company: (i) the exercise price of a SAR may not be reduced, directly or indirectly, (ii) a SAR may not be cancelled in exchange for cash in an amount, or other Awards with a value, that exceeds the excess, if any, of the Fair
Market Value of the shares of Stock subject to the SAR at the time of the cancellation or exchange over the exercise price of such SAR, or for Options or SARs with an exercise price that is less than the exercise price of the original SAR, except as
permitted in accordance with Section 3.06, and (iii) the Company may not repurchase a SAR for value (in cash, substitutions, cash buyouts, or otherwise) from a Participant if the current Fair Market Value of the Stock underlying the SAR is
lower than the exercise price of the SAR. 
 Section 2.04 Restricted Stock. The Committee may grant Awards of Restricted
Stock to Eligible Persons on the following terms and conditions: 
 (a) Restrictions. Shares of Restricted Stock will be
subject to such restrictions on transferability, risk of forfeiture and other restrictions, if any, as the Committee may impose, which restrictions may lapse separately or in combination at such times, under such circumstances (including based on
achievement of performance goals or future service requirements), in such installments or otherwise, as the Committee may determine. During the restricted period applicable to the Restricted Stock, the Restricted Stock may not be sold, transferred,
pledged, hypothecated, margined or otherwise encumbered by the Participant, except as permitted pursuant to Section 3.09. 
 (b)
Rights as Stockholder. Upon the issuance of shares of Restricted Stock in the name of a Participant the Participant will have the rights of a stockholder with respect to the shares of Restricted Stock and will become the record holder of such
shares, subject to the provisions of the Plan and the Award Agreement. 
 (c) Certificates for Stock. Restricted Stock granted under
this Plan may be evidenced in such manner as the Committee may determine. If certificates representing Restricted Stock are registered in the name of the Participant, the Committee may require that such certificates bear an appropriate legend
referring to the terms, conditions and restrictions applicable to such Restricted Stock, that the Company retain physical possession of the certificates, and that the Participant deliver a stock power to the Company, endorsed in blank, relating to
the Restricted Stock. 
 (d) Dividends and Splits. As a condition to the grant of an Award of Restricted Stock, the Committee may
require or permit a Participant to elect that any cash dividends paid on a share of Restricted Stock be automatically reinvested in additional shares of Restricted Stock, applied to the purchase of additional Awards, or deferred without interest to
the date of vesting of the associated Restricted Stock. Unless otherwise determined by the Committee, Stock distributed in connection with a stock split or stock dividend, and other 

  
 9 

 
property (other than cash) distributed as a dividend, will be subject to restrictions and a risk of forfeiture to the same extent as the Restricted Stock with respect to which such Stock or other
property has been distributed. 
 Section 2.05 Restricted Stock Units. The Committee may at any time and from time to
time grant Restricted Stock Units under the Plan to such Eligible Persons and in such amounts as it determines. Each Restricted Stock Unit will entitle the recipient to receive upon vesting one share of Stock from the Company or an amount of cash
equal to the Fair Market Value of one share of Stock, or a combination thereof, as determined by the Committee. Restricted Stock Units granted to a Participant will be subject to risk of forfeiture and other restrictions, if any, as the Committee
may impose, which restrictions may lapse separately or in combination at such times, under such circumstances (including based on achievement of performance goals or future service requirements), in such installments or otherwise, as the Committee
may determine. 
 Section 2.06 Dividend Equivalent Rights. The Committee may grant Dividend Equivalent Rights to a
Participant, entitling the Participant to receive cash, Stock, other Awards, or other property equal in value to dividends paid with respect to a specified number of shares of Stock. Dividend Equivalent Rights may be awarded on a free-standing basis
or in connection with another Award, and may be subject to such restrictions on transferability and risks of forfeiture as the Committee may specify. The Committee may provide that Dividend Equivalent Rights will be paid or distributed when accrued
or deemed reinvested in additional Stock, other Awards or other investment vehicles. 
 Section 2.07 Stock or Other
Stock-Based Awards. The Committee is authorized, subject to the limitations under applicable law, to make such other Awards that are payable in, valued in whole or in part by reference to, or otherwise based on or related to shares of Stock,
as deemed by the Committee to be consistent with the purposes of the Plan, including without limitation shares of Stock awarded purely as a “bonus” and not subject to any restrictions or conditions, convertible or exchangeable debt
securities, other rights convertible or exchangeable into shares of Stock, and Awards valued by reference to the book value of shares of Stock. The Committee will determine the terms and conditions of such Awards. 

Section 2.08 Performance Awards. 

(a) Performance Conditions. The right of a Participant to exercise or receive a grant or settlement of any Award, and the timing
thereof, may be subject to such performance conditions as may be specified by the Committee. The Committee may use such business criteria and other measures of performance as it may deem appropriate in establishing any performance conditions, and
may exercise its discretion to reduce or increase the amounts payable under any Award subject to performance conditions, except as limited under Section 2.08(b). 

(b) Performance Awards Granted to Covered Employees. If the Committee intends that a Performance Award to be granted to a Covered
Person should qualify as “performance-based compensation” for purposes of section 162(m) of the Code, the grant, exercise or settlement of such Performance Award will be contingent upon achievement of pre-established performance goals and
other terms set forth in this Section 2.08(b). Notwithstanding 

  
 10 

 
anything to the contrary in the Plan, the Company intends to rely on the transition relief set forth in Treasury Regulation § 1.162-27(f) and, as such, the deduction limitation imposed by
section 162(m) of the Code will not apply to the Company until the earliest to occur of (i) the material modification of the Plan within the meaning of Treasury Regulation § 1.162-27(h)(1)(iii), or (ii) the first meeting of the
shareholders of the Company at which directors are to be elected that occurs after December 31, 2018 (the “Section 162(m) Transition Period”) and during the Section 162(m) Transition Period awards to Covered Employees will
only be required to comply with the annual award limitations in Section 1.06. 
 (i) Performance Goals Generally. The
performance goals for such Performance Awards will consist of one or more business criteria and a targeted level or levels of performance with respect to each of such criteria, as specified by the Committee consistent with this
Section 2.08(b). Performance goals will be objective and will be designed to meet the requirements for “performance-based compensation” under section 162(m) of the Code. The Committee may determine that such Performance Awards
will be granted, exercised, or settled upon achievement of any one or more performance goals. 
 (A) Performance Goals. One or more
of the following business criteria will be used by the Committee in establishing performance goals for such Performance Awards: (1) earnings per share, (2) increase in revenues, (3) increase in cash flow, (4) increase in cash
flow from operations, (5) increase in cash flow return, (6) return on net assets, (7) return on assets, (8) return on investment,(9) return on capital, (10) return on equity, (11) economic value added,
(12) operating margin, (13) contribution margin, (14) net income, (15) net income per share, (16) pretax earnings, (17) pretax earnings before interest, (18) depreciation and amortization, (19) pretax
operating earnings after interest expense and before incentives, service fees, and extraordinary or special items, (20) total stockholder return, (21) debt reduction, (22) market share, (23) change in the fair market value of
Stock, (24) operating income, (25) amount of oil and natural gas reserves, (26) oil and natural gas reserve additions, (27) cost of finding oil and natural gas reserves, (28) oil and natural gas reserve replacement ratios,
(29) oil and natural gas production amounts, (30) oil and natural gas production sales amounts, (31) safety targets, and (32) regulatory compliance. Such performance goals may be measured on a generally accepted accounting
principles (GAAP) or non-GAAP basis, and be based solely by reference to the performance of the Company as a whole or any subsidiary, division, business segment or business unit of the Company, or any combination thereof or based upon the relative
performance of other companies or upon comparisons of any of the indicators of performance relative to a peer group of other companies. Unless otherwise stated in an Award Agreement a performance goal need not be based on an increase or positive
result under a particular business criterion and could include, for example, maintaining the status quo or limiting economic losses (measured, in each case, by reference to specific business criteria). 

(B) Adjustments to Performance Goals. The Committee may provide that one or more objectively determinable adjustments will be made to
one or more of the performance goals. Such adjustments may include one or more of the following: (1) items related to a change in accounting principle; (2) items relating to financing activities; (3) expenses for restructuring or
productivity initiatives; (4) other non-operating items; (5) items related to acquisitions; (6) items attributable to the business operations of any entity acquired by the Company during the applicable performance period;
(7) items related to the disposal of a 

  
 11 

 
business or segment of a business; (8) asset write downs; (9) items related to discontinued operations that do not qualify as a segment of a business under applicable accounting
standards; (10) items attributable to any stock dividend, stock split, combination or exchange of stock occurring during the applicable performance period; (11) any other items of significant income or expense which are determined to be
appropriate adjustments; (12) items relating to unusual or extraordinary corporate transactions, events or developments, (13) items related to amortization of acquired intangible assets; (14) items that are outside the scope of the
Company’s core, on-going business activities; (15) items relating to changes in tax laws; (16) items relating to major licensing or partnership arrangements; (17) items relating to asset impairment charges; (18) items
relating to gains or losses for litigation, arbitration and contractual settlements; or (19) items relating to any other unusual or nonrecurring events or changes in applicable law, accounting principles or business conditions identified by the
Committee. 
 (ii) Performance Period; Timing for Establishing Performance Goals. Achievement of performance goals in respect of
such Performance Awards will be measured over a performance period of up to ten years, as specified by the Committee. Performance goals will be established not later than 90 days after the beginning of any performance period, or at such other date
as may be required or permitted for “performance-based compensation” under section 162(m) of the Code. 
 (iii) Performance
Award Pool. The Committee may establish a Performance Award pool, which will be an unfunded pool, for purposes of measuring performance of the Company in connection with Performance Awards. The amount of such Performance Award pool will be based
upon the achievement of a performance goal or goals based on one or more of the criteria set forth in Section 2.08(b)(i) hereof during the given performance period, as specified by the Committee in accordance with
Section 2.08(b)(ii) hereof. The Committee may specify the amount of the Performance Award pool as a percentage of any of such criteria, a percentage thereof in excess of a threshold amount, or as another amount which need not bear a
strictly mathematical relationship to such criteria. 
 (iv) Settlement of Performance Awards; Other Terms. After the end of each
performance period, the Committee will determine the amount, if any, of (A) the Performance Award pool and the maximum amount of the potential Performance Award payable to each Participant in the Performance Award pool, or (B) the amount
of the potential Performance Award otherwise payable to each Participant. Settlement of such Performance Awards will be in cash, Stock, other Awards or other property, in the discretion of the Committee. The Committee may reduce the amount of any
settlement otherwise to be made in connection with such Performance Awards, but may not increase any such amount payable to a Covered Employee in respect of a Performance Award subject to this Section 2.08(b). The Committee will specify
the circumstances in which such Performance Awards will be paid or forfeited in the event of a Participant’s termination of employment before the end of a performance period or settlement date. 

(c) Written Determinations. All determinations by the Committee as to the establishment of performance goals, the amount of any
Performance Award pool or potential individual Performance Awards, or the achievement of performance goals relating to Performance Awards under Section 2.08(b), will be made in writing in the case of any Award intended to qualify as
“performance-based compensation” under section 162(m) of the Code. The Committee may not delegate any responsibility relating to such Performance Awards. 

  
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 ARTICLE III 

PROVISIONS APPLICABLE TO AWARDS 

Section 3.01 Term of Awards. Except as specified herein, the term of each Award will be for such period as may be
determined by the Committee; provided, however, that in no event will the term of any Option or SAR exceed a period of ten years (or such shorter term as may be required in respect of an ISO under section 422 of the Code). 

Section 3.02 Forfeiture Events. Awards under the Plan are subject to any compensation recoupment policy that the Company
may adopt from time to time that is applicable by its terms to the Participant. In addition, the Committee may specify in an Award Agreement that the Participant’s rights, payments and benefits with respect to an Award will be subject to
reduction, cancellation, forfeiture or recoupment upon the occurrence of certain specified events, in addition to any otherwise applicable vesting or performance conditions of an Award. Such events may include, but will not be limited to,
(i) termination of employment or service for cause, (ii) violation of a material policy of the Company or an Affiliate, (iii) breach of noncompetition, confidentiality or other restrictive covenants that may apply to the Participant,
(iv) other conduct by the Participant that is detrimental to the business or reputation of the Company or an Affiliate, or (v) a later determination that the vesting of, or amount realized from, a Performance Award was based on materially
inaccurate financial statements or any other materially inaccurate performance metric criteria, whether or not the Participant caused or contributed to such material inaccuracy. The Company will seek to recover any Award as required by the
provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act or any other “clawback” provision required by law or exchange listing standards. 

Section 3.03 No Rights as a Stockholder. No Participant (or other person having rights pursuant to an Award) will have any
of the rights of a stockholder of the Company with respect to shares of Stock subject to an Award until the delivery of such shares. Except as otherwise provided in Section 3.07, no adjustments will be made for dividends or distributions
(whether ordinary or extraordinary, and whether in cash, shares of Stock, other securities or other property) on, or other events relating to, shares of Stock subject to an Award for which the record date is before the date such shares of Stock are
delivered. 
 Section 3.04 Form and Timing of Payment under Awards; Deferrals. Subject to the terms of this Plan
and any applicable Award Agreement, payments to be made by the Company or a subsidiary upon the exercise of an Option or SAR or settlement of any other Award may be made in such forms as the Committee may determine, including without limitation
cash, Stock, other Awards or other property, and may be made in a single payment or transfer, in installments, or on a deferred basis; provided, however, that any such deferred payment will be set forth in the Award Agreement or
otherwise made in a manner that will not result in additional taxes under section 409A of the Code. Except as otherwise provided herein, the Committee may provide that the settlement of any Award be accelerated, and cash paid in lieu of Stock in
connection with such settlement or upon occurrence of one or more specified events (in addition 

  
 13 

 
to a Change of Control). Installment or deferred payments may be required by the Committee (subject to Section 3.11, including the consent provisions thereof in the case of any
deferral of an outstanding Award not provided for in the existing Award Agreement) or permitted at the election of the Participant on terms and conditions established by the Committee and in compliance with the requirements of section 409A of the
Code. 
 Section 3.05 Existence of Plans and Awards. The existence of this Plan and the Awards granted hereunder will not
affect in any way the right or power of the Company or the stockholders of the Company to make or authorize any adjustment, recapitalization, reorganization or other change in the Company’s capital structure or its business, any merger or
consolidation of the Company, any issue of stock or of options, warrants or rights to purchase stock or of bonds, debentures, preferred or prior preference stocks where rights are superior to or affect the Stock or the rights thereof or which are
convertible into or exchangeable for Stock, or the dissolution or liquidation of the Company or any sale, lease, exchange or other disposition of all or any part of its assets or business or any other corporate act or proceeding, whether of a
similar character or otherwise. 
 Section 3.06 Change of Control. 

(a) General. Except as otherwise provided in an Award Agreement, in connection with a Change of Control the Committee may, acting in
its sole discretion and without the consent of any holder of an Award, accelerate the vesting, delivery or exercisability of, or the lapse of restrictions or deemed satisfaction of performance goals with respect to, any Award. The exercise of the
Committee’s discretion under the preceding sentence may vary among individual holders and may vary among Awards. Unless otherwise provided in the applicable Award Agreement and except as otherwise determined by the Committee, in the event of a
merger, consolidation, mandatory share exchange or other similar business combination of the Company with or into any other entity (“successor entity”) or any transaction in which another person or entity acquires all of the issued and
outstanding Stock, or all or substantially all of the assets of the Company, outstanding Awards may be assumed or a substantially equivalent Award may be substituted by such successor entity or a parent or subsidiary of such successor entity, and
such an assumption or substitution will not be deemed to violate this Plan (including, without limitation, Section 2.02(f) or Section 2.03(c)), or any provision of any Award Agreement. 

(b) Options and SARs. Upon a Change of Control described in Section 1.02(g)(iii) or (iv) (a “Covered
Transaction”), the Committee, acting in its sole discretion, may: 
 (i) Terminate and cancel any outstanding and unexercised
Option or SAR, immediately following which all rights of the holder thereunder will terminate, provided that no Option or SAR may be terminated and canceled without the consent of the holder before the expiration of ten (10) days following the
later of date on which the Option or SAR is exercisable or the date on which the holder receives written notice of the Covered Transaction; or 

(ii) Require the mandatory surrender to the Company any outstanding and unexercised Option or SAR (irrespective of whether such Option or SAR
is then exercisable) 

  
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at, preceding or following the time of the Covered Transaction, upon which surrender the Committee will cancel such Option or SAR and pay to the holder an amount of cash (or other consideration
including securities or other property) per share equal to the excess, if any, of the Fair Market Value of the shares of Stock subject to the Option or SAR immediately prior to the Covered Transaction (the “Change of Control Price”)
over the exercise price of such Option or SAR, provided, that, if the exercise price equals or exceeds the Change of Control Price no amount will be payable upon surrender of the Option or SAR. 

(c) Dissolution or Liquidation. To the extent not previously exercised, settled or assumed, Options, SARs and Performance Awards shall
terminate immediately prior to the dissolution or liquidation of the Company. 
 Section 3.07 Adjustments. The Committee
may adjust the number of shares of Stock authorized pursuant to Section 1.04(a) and will adjust (including, without limitation, by payment of cash) the terms of any Awards (including, without limitation, the number of shares of Stock covered by
each Award, the type of property to which the Award relates and the exercise price of any Award), in such manner as it deems appropriate to prevent the enlargement or dilution of rights, for any increase or decrease in the number of issued shares of
Stock (or issuance of shares of stock other than shares of Stock) resulting from a recapitalization, stock split, reverse stock split, stock dividend, spinoff, splitup, combination, reclassification or exchange of shares of Stock, merger,
consolidation, rights offering, separation, reorganization or any other change in the corporate structure or event, the Committee determines affects the capitalization of the Company; provided, however, that no such adjustment will be required if
the Committee determines that such action would cause an Award to fail to satisfy the conditions of an applicable exception from the requirements of Section 409A or otherwise would subject a Participant to an additional tax imposed under
Section 409A in respect of an Award. After any adjustment made pursuant to this Section 3.06, the number of shares of Stock subject to each outstanding Award will be rounded down to the nearest whole number as determined by the Committee.
 
 Section 3.08 Substitute Awards. The Committee may grant Awards under the Plan in substitution for stock and
stock-based awards held by employees of another entity who become employees of the Company or an Affiliate as a result of a merger or consolidation of the former employing entity with the Company or a Subsidiary or the acquisition by the Company or
a Subsidiary of property or stock of the former employing entity. The Committee may direct that the substitute awards be made on such terms and conditions as the Committee determines appropriate in the circumstances. 

Section 3.09 Transferability of Awards. No Award (or any rights and obligations thereunder) may be sold, exchanged,
transferred or assigned, whether voluntarily or involuntarily, other than by will or by the laws of descent and distribution, and all such Awards (and any rights thereunder) will be exercisable during the life of the Participant only by the
Participant or the Participant’s legal representative. Notwithstanding the preceding sentence, the Committee may permit, under such terms and conditions that it deems appropriate in its sole discretion, (a) that a Participant may transfer
an Award in whole or in part without payment of consideration to a member of the Participant’s immediate family, to a trust established for the benefit of a member of the Participant’s immediate family, or to a partnership whose only

  
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partners are members of the Participant’s immediate family, or (b) that except as prohibited by Rule 16b-3, a Participant may transfer all or a portion of an Award to a person for which
the Participant is entitled to a deduction for a “charitable contribution” under section 170(a)(i) of the Code, provided in either case that no further transfer by such permitted transferee will be permitted, and provided
further that the exercise of the Award remains the power and responsibility of the Participant or his or her legal representative. Any sale, exchange, transfer or assignment violation of the provisions of this Section 3.09 will be
null and void. All of the terms and conditions of this Plan and the Award Agreements will be binding upon any permitted successors and assigns. 

Section 3.10 Taxes. As a condition to the delivery of any shares Stock, other property or cash pursuant to any Award or the
lifting or lapse of restrictions on any Award, or in connection with any other event that gives rise to a Federal or other governmental tax withholding obligation on the part of the Company or an Affiliate relating to an Award (including, without
limitation, FICA tax), (a) the Company or Affiliate may deduct or withhold (or cause to be deducted or withheld) from any payment or distribution to the Participant, whether or not pursuant to the Plan, (b) the Committee will be entitled
to require that the Participant remit cash to the Company or Affiliate (through payroll deduction or otherwise) or (c) the Company or Affiliate may enter into any other suitable arrangements to withhold, in each case in an amount sufficient in
the opinion of the Company or Affiliate to satisfy such withholding obligation. If the event giving rise to the withholding obligation involves a transfer of shares of Stock, then, at the discretion of the Committee, the Participant may satisfy the
withholding obligation by electing to have the Company withhold shares of Stock (which withholding, unless otherwise provided in the applicable Award Agreement, will be at a rate not in excess of the statutory minimum rate) or by tendering
previously owned shares of Stock, in each case having a Fair Market Value equal to the amount of tax to be withheld (or by any other mechanism as may be required or appropriate to conform with local tax and other rules). The Company and any
Affiliate is authorized to withhold from any Award granted, or any payment relating to an Award under this Plan, including from a distribution of Stock, amounts of withholding and other taxes due or potentially payable in connection with any
transaction involving an Award, and to take such other action as the Committee may deem advisable to enable the Company and Participants to satisfy obligations for the payment of withholding taxes and other tax obligations relating to any Award.
This authority includes, without limitation, the authority to withhold or receive Stock or other property and to make cash payments in respect thereof in satisfaction of a Participant’s tax obligations, either on a mandatory or elective
basis. 
 Section 3.11 Amendment, Modification and Termination. The Board may amend, alter, suspend, discontinue
or terminate this Plan or the Committee’s authority to grant Awards under this Plan without the consent of the Company’s stockholders; provided, however, that if an amendment to the Plan would, in the reasonable opinion of
the Board, (i) increase the number of shares of Stock available for issuance under the Plan, (ii) expand the types of Awards under the Plan, (iii) materially expand the class of individuals eligible to participate in the Plan,
(iv) materially extend the term of the Plan, or (v) otherwise constitute a material change requirement stockholder approval under applicable laws, policies or regulations or the applicable listing or other requirements of the national
securities exchange on which the shares of Stock are then listed, then such amendment will be subject to stockholder approval; and provided further, that the Board may condition any other amendment or modification on the approval of
the  

  
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Company’s stockholders for any reason. No Board action under this Section 3.11 may materially and adversely affect the rights of a Participant under any outstanding Award held by
such Participant immediately prior to the effective time of such Board action. 
 Section 3.12 Correction of Errors.
Notwithstanding anything in this Plan or an Award Agreement to the contrary, the Committee may amend an Award, to take effective retroactively or otherwise, as deemed necessary or advisable for the purpose of correcting errors occurring in
connection with the grant or documentation of an Award, including rescinding an Award erroneously granted, including, but not limited to, an Award erroneously granted to an individual who does not qualify as an Eligible Person on the date of grant
of the Award. By accepting an Award under the Plan, each Participant agrees to any amendment made pursuant to this Section 3.12 to any Award made under the Plan without further consideration or action. 

Section 3.13 Limitation on Rights Conferred under Plan. Neither this Plan nor any action taken hereunder may be construed
as (i) giving any Eligible Person or Participant the right to continue as an Eligible Person or Participant or in the employ or service of the Company or an Affiliate, (ii) interfering in any way with the right of the Company or an
Affiliate to terminate any Eligible Person’s or Participant’s employment or service relationship at any time, (iii) giving an Eligible Person or Participant any claim to be granted any Award under this Plan or to be treated uniformly
with other Participants or employees or other service providers, or (iv) conferring on a Participant any of the rights of a stockholder of the Company unless and until the Participant is duly issued or transferred shares of Stock in accordance
with the terms of an Award Agreement and the Plan. 
 Section 3.14 Unfunded Status of Awards. This Plan is
intended to constitute an “unfunded” plan and nothing in the Plan or any Award Agreement will give the Participant any rights that are greater than those of a general creditor of the Company. The Plan will not constitute an “employee
benefit plan” for purposes of section 3(3) of the Employee Retirement Income Security Act of 1974, as amended. 

Section 3.15 Nonexclusivity of this Plan. Neither the adoption of this Plan by the Board nor its submission to the
stockholders of the Company for approval may be construed as creating any limitations on the power of the Board or a committee thereof to adopt such other incentive arrangements as it may deem desirable, including incentive arrangements and awards
which do not qualify under section 162(m) of the Code. Nothing contained in this Plan may be construed to prevent the Company or an Affiliate from taking any corporate action which is deemed by the Company or such Affiliate to be appropriate or in
its best interest, whether or not such action would have an adverse effect on this Plan or any Award made under this Plan. No employee, beneficiary or other person will have any claim against the Company or any Subsidiary as a result of any such
action. 
 Section 3.16 Fractional Shares. No fractional shares of Stock will be issued or delivered pursuant to
this Plan or any Award. The Committee may determine whether cash, other Awards or other property will be issued or paid in lieu of such fractional shares or whether such fractional shares or any rights thereto will be forfeited or otherwise
eliminated. 

  
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 Section 3.17 Severability. If any provision of this Plan is held to be illegal
or invalid for any reason, the illegality or invalidity will not affect the remaining provisions hereof, but such provision will be fully severable and the Plan will be construed and enforced as if the illegal or invalid provision had never been
included herein. If any of the terms or provisions of this Plan or any Award agreement conflict with the requirements of Rule 16b-3 (as those terms or provisions are applied to Eligible Persons who are subject to section 16(b) of the Exchange Act)
or section 422 of the Code (with respect to Incentive Stock Options), then those conflicting terms or provisions will be deemed inoperative to the extent they so conflict with the requirements of Rule 16b-3 (unless the Board or the Committee, as
appropriate, has expressly determined that the Plan or such Award should not comply with Rule 16b-3) or section 422 of the Code. 

Section 3.18 Governing Law. All questions arising with respect to the provisions of the Plan and Awards shall be determined
by application of the laws of the State of Delaware, without giving effect to any conflict of law provisions thereof, except to the extent Delaware law is preempted by federal law. The obligation of the Company to sell and deliver Stock hereunder is
subject to applicable federal and state laws and to the approval of any governmental authority required in connection with the authorization, issuance, sale, or delivery of such Stock. 

Section 3.19 Conditions to Delivery of Stock. Nothing herein or in any Award granted hereunder or any Award agreement will
require the Company to issue any shares with respect to any Award if that issuance would, in the opinion of counsel for the Company, constitute a violation of the Securities Act or any similar or superseding statute or statutes, any other applicable
statute or regulation, or the rules of any applicable securities exchange or securities association, as then in effect. 

Section 3.20 Special Provisions Related Section 409A of the Code. It is intended that the payments and benefits
provided under the Plan and any Award will either be exempt from the application of, or comply with, the requirements of section 409A of the Code. The Plan and all Award Agreements will be construed in a manner that effects such intent.
Nevertheless, the tax treatment of the benefits provided under the Plan or any Award is not warranted or guaranteed. Neither the Company, its Affiliates, nor their respective directors, officers, employees or advisers (other than in his or her
capacity as a Participant) will be held liable for any taxes, interest, penalties or other amounts owed by any Participant or other taxpayer as a result of the Plan or any Award. 

Section 3.21 Plan Establishment and Term. This Plan was adopted by the Board on
[—] and approved by the Company’s stockholders on [—]. Awards may be granted under this Plan no earlier than the Effective Date specified in
Section 1.02(l), and no Awards may be granted under this Plan on or after the tenth anniversary of the Effective Date. 

  
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