Document:

Separation and Consulting Agreement

 Exhibit 10.1 
 SEPARATION AND CONSULTING AGREEMENT 
 THIS SEPARATION AND CONSULTING
AGREEMENT (this “Agreement”) is made and entered into as of June 22, 2009, by and between Maguire Properties, Inc., a Maryland corporation (the “REIT”), Maguire Properties, L.P., a Maryland limited partnership
(the “Operating Partnership”), and Douglas J. Gardner (“Gardner”). 
 WHEREAS, the REIT, the Operating
Partnership and Gardner have previously entered into that certain Employment Agreement, effective as of May 17, 2008 (the “Employment Agreement”), which provides for Gardner’s employment as Executive Vice-President of the
REIT and the Operating Partnership (collectively, the “Company”); 
 WHEREAS, pursuant to that certain Restricted Stock Unit
Award Agreement, dated as of May 17, 2008, by and between the REIT, the Operating Partnership and Gardner (the “RSU Agreement”), the REIT granted to Gardner 131,250 restricted stock units with dividend equivalent rights (the
“RSUs”) under the Second Amended and Restated 2003 Incentive Award Plan of Maguire Properties, Inc., Maguire Properties Services, Inc. and Maguire Properties, L.P.; 
 WHEREAS, Gardner wishes to resign from his position as Executive Vice-President of the Company, and as an employee of the Company, and Gardner and the
Company desire to specify the terms of Gardner’s resignation and to provide for the termination of the Employment Agreement; and 
 WHEREAS, in connection with Gardner’s resignation, the Company desires to retain Gardner to provide certain consulting services to the Company as of the Separation Date (as defined below) in accordance with the terms and conditions set
forth herein. 
 NOW, THEREFORE, in consideration of the foregoing recitals, the mutual promises contained herein, and for other good and
valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows: 
  

	 	1.	RESIGNATION; TERMINATION OF EMPLOYMENT AGREEMENT 

 1.1. Resignation. Gardner hereby tenders, and the Company hereby accepts, Gardner’s resignation from (a) his positions as Executive Vice-President of the Company and as an employee of the Company, and (b) his position
as an officer and/or employee of any and all subsidiaries and affiliates of the Company, in each case effective as of July 1, 2009 (the “Separation Date”). Notwithstanding anything contained herein or in the Employment
Agreement, Gardner’s resignation hereunder shall not be deemed a termination by the Company without “Cause” or by Gardner for “Good Reason” for purposes of, and each as defined in, the Employment Agreement. 
  

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 1.2. Termination of Employment Agreement. As of the Separation Date, the Employment Agreement
shall automatically terminate and be of no further force and effect, and neither the Company nor Gardner shall have any further obligations thereunder; provided, however, that the Company’s obligation to pay to Gardner the Accrued
Obligations (as defined in the Employment Agreement), and the provisions of Section 2(b)(vii) (Expenses), Section 2(b)(x) (Compensation Gross-Up), Section 8 (Full Settlement), Section 9 (Certain Additional Payments by the
Company), including with respect to any Excise Tax Gross-Up Payment (as defined in the Employment Agreement), and Section 10 (Confidential Information and Non-Solicitation) of the Employment Agreement shall survive such termination of the
Employment Agreement. 
  

	 	2.	POST-EMPLOYMENT HEALTH INSURANCE COVERAGE; RESTRICTED STOCK UNITS 

 2.1. Post-Employment Health Insurance Coverage. In consideration of, and subject to and conditioned upon Gardner’s execution and non-revocation of the Release (as defined below), and Gardner’s
continued compliance with the terms and conditions of this Agreement, including without limitation, the confidentiality and non-solicitation covenants described in Section 4 below, during the period commencing on the Separation Date and ending
on December 31, 2009, the Company shall continue to provide Gardner and his eligible family members with group health insurance coverage at least equal to that which would have been provided to them if Gardner’s employment had not been
terminated, provided that Gardner properly elects continuation healthcare coverage under Section 4980B of the Internal Revenue Code of 1986, as amended (the “Code”), and the regulations thereunder; provided, however, that if
Gardner becomes re-employed with another employer and is eligible to receive group health insurance coverage under another employer’s plans, the Company’s obligations under this Section 2.1 shall be reduced to the extent comparable
coverage is actually provided to Gardner and his eligible family members, and any such coverage shall be reported by Gardner to the Company. 
 2.2. Restricted Stock Units. Gardner hereby acknowledges that the RSU Agreement provides that in the event of Gardner’s “Separation from Service” by reason of Gardner’s voluntary resignation without “Good
Reason” (as such terms are defined in the Employment Agreement), Gardner shall immediately forfeit any and all RSUs granted under the RSU Agreement which have not vested or do not vest on or prior to the date on which Gardner’s Separation
from Service occurs, and Gardner’s rights in any such RSUs which are not so vested shall lapse and expire. Gardner further acknowledges that any vested RSUs shall become payable in accordance with the terms and conditions of the RSU Agreement
(including, without limitation, under Section 2.3(b) thereof). 
  

	 	3.	RELEASE 

 3.1. Release. In consideration of
the benefits set forth in Section 2.1, 

  

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the Company’s agreement to retain Gardner as a consultant as set forth in Section 5 hereof, and for other valuable consideration, the receipt and
adequacy of which are hereby acknowledged, Gardner shall, as of the Separation Date, execute and deliver to the Company a release of claims in substantially the form attached hereto as Exhibit A (the “Release”). 

 

	 	4.	CONFIDENTIALITY, NON-SOLICITATION 

 4.1.
Reaffirmation of Prior Agreements. Gardner hereby acknowledges and agrees that Gardner is bound by certain confidentiality and non-solicitation covenants set forth in Section 10 of the Employment Agreement. Notwithstanding anything
contained in this Agreement, Gardner hereby reaffirms the covenants and provisions set forth in Section 10 of the Employment Agreement and acknowledges and agrees that the provisions of Section 10 of the Employment Agreement shall survive
the termination of Gardner’s employment with the Company and shall remain in full force and effect. 
  

	 	5.	CONSULTING SERVICES 

 5.1. Term and
Commitment. During the period commencing on July 1, 2009 and ending on December 31, 2009, or such earlier date on which Gardner’s consulting relationship with the Company is terminated as provided herein (the “Consulting
Period”), Gardner shall, at the Company’s request, provide consulting services to the Company as set forth in Section 5.2 below (the “Consulting Services”) during the Consulting Period. 
 5.2. Services to be Provided. Gardner shall provide the Consulting Services to the Company with respect to the matters set forth on Schedule
A attached hereto, or such other matters as the parties may mutually determine. 
 5.3. Non-Exclusive Relationship. The Consulting
Services being provided by Gardner are on a non-exclusive basis, and Gardner shall be entitled to perform or engage in any activity not inconsistent with or otherwise prohibited by this Agreement or by the surviving provisions of the Employment
Agreement. 
 5.4. Compensation. During the Consulting Period, the Company shall pay Gardner a monthly retainer of $17,500 for
Consulting Services to be performed by Gardner (the “Consulting Fee”). The Company shall pay Gardner the Consulting Fee for such services promptly, but in no event later than 30 days following the last day of the month with respect
to which such services are performed. 
 5.5. Tax Obligations. Gardner shall be responsible for the payment of all taxes owed on all
amounts paid to Gardner by the Company hereunder with respect to the Consulting Services and shall protect the Company from any liability for the payment of any taxes of any kind with respect to the consulting fees paid to Gardner hereunder.

 5.6. Reimbursable Costs. The Company shall reimburse Gardner in 

  

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accordance with general policies and practices of the Company for actual and reasonable expenses incurred in performing the Consulting Services
(“Reimbursable Costs”), payable within 30 days of receipt of an invoice. To the extent that any reimbursements provided to Gardner under this Section 5.6 are deemed to constitute compensation to Gardner, such amounts shall be
paid or reimbursed reasonably promptly, but not later than December 31 of the year following the year in which the expense was incurred. The amount of any reimbursements that constitute compensation in one year shall not affect the amount of
reimbursements constituting compensation that are eligible for payment or reimbursement in any subsequent year, and Gardner’s right to such payments or reimbursement of any such expenses shall not be subject to liquidation or exchange for any
other benefit. 
 5.7. Duties of the Company. The Company shall (i) grant Gardner access to records, files, equipment, employees
and consultants as reasonably required for Gardner to perform the Consulting Services contemplated herein; and, (iii) pay to Gardner the amounts due to Gardner within the time periods specified herein. 
 5.8. Duties of Gardner. Gardner shall (i) dedicate such time commitment to the Consulting Services as is reasonably necessary to perform such
Consulting Services, provided that, Gardner shall not be obligated to perform such Consulting Services for more than 50 hours per month; (ii) comply with all applicable federal, state and municipal laws and regulations required to enable
Gardner to render to the Company the Consulting Services called for herein; (iii) continue to comply with the confidentiality and non-solicitation covenants described in Section 4 above; and (iv) maintain the confidentiality of all
Company records, trade secrets and other confidential information to which Gardner may have or obtain knowledge or access during the Consulting Period. Upon termination of the Consulting Period, Gardner shall return to the Company all Company
property in his possession, including without limitation, keys, credit cards, telephone calling cards, computer hardware and software, cellular and portable telephone equipment, personal digital assistant (PDA) devices, manuals, books, notebooks,
financial statements, reports and other documents. 
 5.9. Assignment. Neither party hereto shall assign any rights or delegate any
obligations under this Agreement, except as otherwise may be agreed in writing by both parties; provided, that the Company may, without such consent, assign its rights and obligations to one or more of its affiliates. 
 5.10. Retention of Authority. Throughout the Consulting Period, the Company shall retain all authority and control over the business, policies,
operations, and assets of the Company. Gardner shall not knowingly violate any rules or policies of the Company or violate any applicable law in connection with the performance of the Consulting Services. The Company does not, by virtue of this
Agreement, delegate to Gardner any of the powers, duties or responsibilities vested in the Company by law or under the organizational documents of the Company. 
 5.11. Independent Consultant Status. In performing the Consulting 

  

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Services herein, the Company and Gardner agree that Gardner shall at all times be acting as an independent contractor and not as an employee of the Company.
The parties acknowledge that Gardner was, prior to the Separation Date, an employee of the Company, serving as Executive Vice-President of the Company, but that such employment relationship is terminated as of the Separation Date as set forth
herein. The Company and Gardner agree that Gardner will not be an employee of the Company during the Consulting Period and that Gardner, and not the Company, shall have the authority to direct and control Gardner’s performance of his or her
activities hereunder. Nothing contained in this Agreement shall be construed to create a partnership or joint venture between the Company and Gardner, nor to authorize either party hereunder to act as general or special agent of the other party in
any respect. Gardner shall not, by virtue of performing the Consulting Services, be entitled to any employee benefits provided by the Company to its employees during the Consulting Period. 
  

	 	6.	TERMINATION 

 6.1. Termination by the
Company. The Company may terminate the Consulting Period and Gardner’s services as a consultant hereunder at any time and for any reason by providing at least 30 days’ prior written notice to Gardner in accordance with
Section 8.12 below. In the event of such termination, Gardner shall be entitled to receive (at the times set forth in Section 5.4) all earned but unpaid Consulting Fees as of the date of termination, including a pro rata portion of such
Consulting Fees for the partial month in which such termination occurs (“Earned Amounts”), and shall have no further rights to payment of any Consulting Fees or other compensation hereunder. 
 6.2. Termination by Gardner. Gardner may terminate the Consulting Period and Gardner’s services as a consultant hereunder at any time and for
any reason by providing at least 30 days’ prior written notice to the Company in accordance with Section 8.12 below, which notice may, in the Company’s sole discretion, be waived by the Company without payment in lieu thereof. In the
event of such termination, Gardner shall be entitled to receive all Earned Amounts, and shall have no further rights to payment of any consulting fees or other compensation hereunder. 
  

	 	7.	DISPUTE RESOLUTION 

 7.1. Arbitration. Any
disagreement, dispute, controversy or claim arising out of or relating to this Agreement or the interpretation of this Agreement or any arrangements relating to this Agreement or contemplated in this Agreement or the breach, termination or
invalidity thereof shall be settled by final and binding arbitration administered by JAMS/Endispute in Los Angeles, California in accordance with the then existing JAMS/Endispute Arbitration Rules and Procedures for Employment Disputes. In the event
of such an arbitration proceeding, Gardner and the Company shall select a mutually acceptable neutral arbitrator from among the JAMS/Endispute panel of arbitrators. In the event Gardner and the Company cannot agree on an arbitrator, the
Administrator of JAMS/Endispute will appoint an arbitrator. Neither Gardner nor the Company nor the arbitrator shall disclose the existence, content, or results of any 

  

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arbitration hereunder without the prior written consent of all parties. Except as provided herein, the Federal Arbitration Act shall govern the
interpretation, enforcement and all proceedings. The arbitrator shall apply the substantive law (and the law of remedies, if applicable) of the state of California, or federal law, or both, as applicable, and the arbitrator is without jurisdiction
to apply any different substantive law. The arbitrator shall have the authority to entertain a motion to dismiss and/or a motion for summary judgment by any party and shall apply the standards governing such motions under the Federal Rules of Civil
Procedure. The arbitrator shall render an award and a written, reasoned opinion in support thereof. Judgment upon the award may be entered in any court having jurisdiction thereof. 
 7.2. Waiver of Jury Trial. By submitting a dispute to arbitration, the parties hereto understand that they will not enjoy the benefits of a jury
trial. Accordingly, the parties hereto expressly waive the right to a jury trial. 
 7.3. Nonexclusive Remedy. Notwithstanding the
above provisions regarding arbitration, the parties each retain their respective rights to seek injunctive relief or other provisional remedies provided under the law in any court having competent jurisdiction. 
  

	 	8.	MISCELLANEOUS 

 8.1. Code Section 409A.

 (A) To the extent applicable, this Agreement shall be interpreted in accordance with Section 409A of the Code and Department of
Treasury regulations and other interpretive guidance issued thereunder. Notwithstanding any provision of this Agreement to the contrary, if the Company determines that any compensation or benefits payable under this Agreement may not be either
exempt from or compliant with Section 409A of the Code and related Department of Treasury guidance, the Company may, with Gardner’s prior written consent, adopt such amendments to this Agreement or adopt other policies and procedures
(including amendments, policies and procedures with retroactive effect), or take any other actions, that the Company determines are necessary or appropriate to (i) exempt the compensation and benefits payable under this Agreement from
Section 409A of the Code and/or preserve the intended tax treatment of such compensation and benefits, or (ii) comply with the requirements of Section 409A of the Code and related Department of Treasury guidance; provided,
however, that this Section 8.1 shall not create any obligation on the part of the Company to adopt any such amendment, policy or procedure or take any such other action. 
 (B) Notwithstanding anything to the contrary in this Agreement, no payment or benefits shall be paid to Gardner during the 6-month period following his
Separation from Service if the Company determines that paying such amounts at the time or times indicated in this Agreement would be a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code. If the payment of any such 

  

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amounts is delayed as a result of the previous sentence, then on the first business day following the end of such 6-month period (or such earlier date upon
which such amount can be paid under Section 409A of the Code without resulting in a prohibited distribution, including as a result of Gardner’s death), the Company shall pay Gardner a lump-sum amount equal to the cumulative amount that
would have otherwise been payable to Gardner during such period. 
 8.2. Withholding. The Company may withhold from any amounts
payable or benefits provided under this Agreement such Federal, state, local or foreign taxes as shall be required to be withheld pursuant to any applicable law or regulation. 
 8.3. Severability. In construing this Agreement, if any portion of this Agreement shall be found to be invalid or unenforceable, the remaining
terms and provisions of this Agreement shall be given effect to the maximum extent permitted without considering the void, invalid or unenforceable provision. 
 8.4. Parties in Interest. This Agreement shall inure to the benefit of, and shall be binding upon, the parties hereto and their respective successors and permitted assigns. No transfer of any interest hereunder
shall be deemed to release the transferor from any of its obligations hereunder. Nothing in this Agreement is intended to confer any right or remedy under this Agreement on any person other than the parties to this Agreement and their respective
successors and permitted assigns, or to relieve or discharge any obligation or liability of any person to any party to this Agreement, or to give any person any right of subrogation or action over or against any party to this Agreement or to any
affiliate thereof. 
 8.5. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State
of California, without reference to principles of conflict of laws that would result in the application of any law other than that of the State of California. 
 8.6. Final and Entire Agreement. This Agreement, together with the Release, represents the final and entire agreement among the parties with respect to the subject matter hereof and supersedes all prior
agreements, negotiations and discussions between the parties hereto and/or their respective counsel with respect to the subject matter hereof; provided, however, that notwithstanding the foregoing, this Agreement shall not supersede or
otherwise affect that certain Indemnification Agreement, dated as of May 17, 2008, between the Company and Gardner which shall remain in full force and effect. 
 8.7. Amendment. Any amendment to this Agreement must be in writing, signed by duly authorized representatives of the parties, and stating the intent of the parties to amend this Agreement. 
 8.8. Acknowledgment. Gardner acknowledges that he has read and understands the Agreement, is fully aware of its legal effect, and has entered into
it freely based on Gardner’s own judgment. 
  

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 8.9. Cooperation in Legal Proceedings. Gardner agrees that, after the
Separation Date, upon the reasonable request of the Company, Gardner shall cooperate with and assist the Company in undertaking and preparing for legal and other proceedings relating to the affairs of the Company and its subsidiaries. Gardner shall
be reimbursed for the reasonable expenses Gardner incurs in connection with any such cooperation and/or assistance, and, following the termination of the Consulting Period, shall receive from the Company reasonable per diem compensation in
connection therewith. Any such reimbursements and per diem compensation shall be paid to Gardner no later than the 15th
 day of the month immediately following the month in which such expenses were incurred or such cooperation and/or assistance was provided (subject to Gardner’s timely submission to the Company of
proper documentation with respect thereto). 
 8.10. Non-Disparagement. Gardner agrees that Gardner will not make any statement,
publicly or privately, which would reasonably be expected to disparage the REIT, the Operating Partnership, any of their subsidiaries or any of their respective employees, officers or directors. The REIT and the Operating Partnership agree that they
will not make any statement, publicly or privately, which would reasonably be expected to disparage Gardner. Notwithstanding the foregoing, this Section 8.10 shall not preclude Gardner or the Company from making any statement to the extent
required by law or legal process. 
 8.11. Effect of Waivers and Consents. No waiver of any default or breach by any party hereto
shall be implied from any omission by a party to take any action on account of such default or breach if such default or breach persists or is repeated and no express waiver shall affect any default or breach other than the default or breach
specified in the express waiver, and that only for the time and to the extent therein stated. One or more waivers of any covenant, term or condition of this Agreement by a party shall not be construed to be a waiver of any subsequent breach of the
same covenant, term or condition. The consent or approval by any party shall not be deemed to waive or render unnecessary the consent to or approval of said party of any subsequent or similar acts by a party. 
 8.12. Notices. All notices and other communications hereunder shall be in writing and shall be given by hand delivery to the other party or by
registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 
 If to Gardner: at Gardner’s most
recent address on the records of the Company; 
 If to the REIT or the Operating Partnership: 
 Maguire Properties, Inc. 
 355 South Grand
Avenue 
 Suite 3300 
 Los
Angeles, CA 90071 
  

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 Attn: General Counsel 
 with a copy to: 
 Latham & Watkins 
 355 South Grand Avenue 
 Los Angeles, CA
90071-1560 
 Attn: David M. Taub 
 or to such
other address as either party shall have furnished to the other in writing in accordance herewith. Notice and communications shall be effective when actually received by the addressee. 
 8.13. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be an original, but all of which taken
together shall constitute one instrument. 
 [Signature Page Follows] 
  

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 IN WITNESS WHEREOF, the parties hereto have each executed this Agreement as of the date first above written. 

 

			
	 MAGUIRE PROPERTIES, INC.,
 a Maryland
corporation

		
	By:	 	/S/ SHANT KOUMRIQIAN
	 Name: Shant Koumriqian
 Title: EVP &
Chief Financial Officer

	
	 MAGUIRE PROPERTIES, L.P.,
 a Maryland
limited partnership

		
	By:	 	Maguire Properties, Inc.
	Its:	 	General Partner
		
	By:	 	/S/ SHANT KOUMRIQIAN
	 Name: Shant Koumriqian
 Title: EVP &
Chief Financial Officer

	
	/s/ DOUGLAS J. GARDNER
	Douglas J. Gardner

  

 S-1Form of Non-Qualified Stock Option Award Agreement

 Exhibit 10.28 
 CONSOL ENERGY INC. 
 EMPLOYEE NONQUALIFIED STOCK OPTION AGREEMENT 
 1.    Nonqualified Stock Option.  The Option granted is intended to be a Non-Qualified Stock Option and not an
Incentive Stock Option under section 422 of the Internal Revenue Code, as amended (the “Code”) (capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Plan or the cover sheet to which this
Agreement is attached). 
 2.    Vesting.  Subject to Section 4 hereof, one-third of the Option
shall vest and become exercisable as of the first anniversary of the Date of Option Grant (“Grant Date”) and an additional one-third of the Option shall vest and become exercisable on each of the second and third anniversaries of
the Grant Date. For purposes of this Agreement, the term “Vested Portion” of the Option means that portion which: (i) shall have become exercisable pursuant to the terms of this Agreement; (ii) shall not have been
previously exercised; and (iii) shall not have expired, been forfeited or otherwise canceled in accordance with the terms hereof or the Plan. For purposes of this Agreement, the term “Non-Vested Portion” of the Option means
that portion of the Option that is not vested or exercisable and which has not otherwise expired, been forfeited or canceled in accordance with the terms hereof or the Plan. 
 3.    Exercise of Option. 
 (a) Subject to the provisions of the Plan and this Agreement (including Section 4 hereof), the Optionee may exercise all or any part of the Vested Portion of the Option at any time prior to the tenth anniversary
of the Grant Date (the “Expiration Date”); provided that the Option may be exercised with respect to whole Shares only. In no event shall the Option be exercisable on or after the Expiration Date. 
 (b) To the extent set forth in subparagraph (a) above, the Option may be exercised by delivering to the Company at its principal office, or to such
other location designated by the Company, written notice of intent to exercise. Such notice shall specify the number of Shares for which the Option is being exercised and shall be accompanied by payment in full, or adequate provision therefor, of
the aggregate Exercise Price Per Share (“Exercise Price”), and any applicable withholding tax and fees. The payment of the Exercise Price shall be made as indicated by Optionee on the election form: (i) in cash; (ii) by
certified check or bank draft payable to the order of the Company; (iii) by personal check payable to the order of the Company; (iv) by tendering Shares, actually or constructively (and which are not subject to any pledge or other security
interest); or (v) by a combination of the foregoing, provided that the combined value of all cash and cash equivalents and the Fair Market Value of any such Shares so tendered to the Company as of the date of such tender is at least
equal to the Exercise Price. The Optionee may also elect to pay all or any portion of the Exercise Price by having Shares with a Fair Market Value on the date of exercise equal to the Exercise Price withheld by the Company or sold by a
broker-dealer. Subject to the preceding sentence, the Optionee may elect to sell all Shares to cover Option costs, taxes, and fees, and any remaining funds will be issued to Optionee. The payment of withholding tax shall be subject to
Section 8 of this Agreement. 
 (c) Notwithstanding any other provision of the Plan or this Agreement to the contrary, no Option may be
exercised prior to the completion of any registration or qualification of such Option or the Shares under applicable state and federal securities or other laws, or under any ruling or 

  

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regulation of any government body or national securities exchange, that the Board shall in its sole discretion determine to be necessary or advisable.

 (d) Upon the Company’s determination that the Option has been validly exercised as to any of the Shares, the Company shall issue or
cause to be issued as promptly as practicable certificates in the Optionee’s name for such Shares. However, the Company shall not be liable to the Optionee for damages relating to any delays in issuing the certificates or in the certificates
themselves. 
 4.    Termination of Employment. 
 (a) In the event that the Optionee’s employment with the Company (including any Affiliate) is terminated for Cause (or in the event that the
Optionee breaches any of the covenants set forth in Sections 9 and 10 below), the Option (whether vested or unvested) shall be deemed canceled and forfeited in its entirety on the date of the Optionee’s termination of employment or breach of
covenant, as applicable. In addition, any Option exercised during the six month period prior to such termination of employment or breach of covenant, as applicable, shall be rescinded. Within 10 days after receiving notice of a rescission, the
Optionee shall pay to the Company an amount in cash equal to the gain realized by the Optionee upon exercise of the Option. Such notice may be given at any time within one year from the date of such exercise. 
 (b) In the event that the Optionee’s employment with the Company (including any Affiliate) is terminated by the Optionee voluntarily, due to
Disability or by the Company without Cause, the Non-Vested Portion of the Option shall be deemed canceled and forfeited on the date of Optionee’s termination of employment and the Vested Portion, if any, of the Option as of the date of such
termination shall remain exercisable for the lesser of (i) a period of 90 days following such termination of employment or (ii) until the Expiration Date, and, in either event, the Vested Portion shall thereafter be deemed canceled and
forfeited. 
 (c) Notwithstanding the provisions of Section 4(b) concerning an employment termination by the Company without Cause, in
the event that the Optionee’s employment with the Company (including any Affiliate) is terminated by reason of a reduction in force as specified and implemented by the Company, the Non-Vested Portion of the Option shall continue to vest and
become exercisable in accordance with the schedule established under Section 2 of this Agreement and the Option shall remain exercisable until the Expiration Date. In the event of such an employment termination by reason of a reduction in
force, the provisions of subparagraphs 9(a)(i) and (a)(ii) shall not apply. 
 (d) (i) Notwithstanding the provisions of Section 4(b)
concerning a voluntary termination, in the event that the Optionee’s employment with the Company (including any Affiliate) is terminated by reason of an Early Retirement or Incapacity Retirement, as defined herein, the Non-Vested Portion of the
Option shall continue to vest and become exercisable in accordance with the schedule established under Section 2 of this Agreement and the Option shall remain exercisable until the Expiration Date. For purposes of this Agreement and unless
otherwise provided by the Board at the time of such termination, the terms “Early Retirement” and “Incapacity Retirement” shall have such meanings ascribed to them in the CONSOL Energy Inc. Employee Retirement Plan,
as amended, or any successor plan thereto applicable to the Optionee; provided, however, for purposes of this Option the Optionee shall not be considered to have terminated employment on account of “Early Retirement” unless the Optionee
shall also have reached the age of 55 as of the date of termination and completed at least one year of continuous service with the Company after the Effective Date of this Program. 
  

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 (ii) Notwithstanding the provisions of Section 4(b) concerning a voluntary termination, in the
event that Optionee’s employment with the Company (including any Affiliate) is terminated by reason of a Normal Retirement, as defined herein, the Non-Vested Portion of the Option shall vest in its entirety on the effective date of the
Optionee’s retirement and the Option shall remain exercisable until the Expiration Date. For purposes of this Agreement and unless otherwise provided by the Board at the time of such termination, the term “Normal Retirement”
shall have such meaning ascribed to it in the CONSOL Energy Inc. Employee Retirement Plan, as amended, or any successor plan thereto applicable to the Optionee; provided, however, for purposes of this Option the Optionee shall not be considered to
have terminated employment on account of Normal Retirement unless the Optionee shall also have reached the age of sixty-two (62). 
 (iii)
In the event that the Optionee’s employment with the Company (including any Affiliate) is terminated by reason of death, the Non-Vested Portion of the Option shall vest in its entirety immediately upon the date of the Optionee’s death and
the Option shall remain exercisable for the lesser of: (A) a period of three years following death or (B) until the Expiration Date. 
 5.    Change in Control.  Upon a Change in Control prior to the Optionee’s termination of employment with the Company (including any Affiliate), the Non-Vested portion of the Option shall vest and,
unless otherwise provided by separate agreement between the Company and the Optionee, the Option shall remain exercisable until the Expiration Date. Unless otherwise provided by separate agreement between the Company and the Optionee, in the event
that any benefits under this Agreement, either alone or together with any other payments or benefits otherwise owed to the Optionee by the Company on or after a Change in Control would, in the Company’s good faith opinion, be deemed under
Section 280G of the Code, or any successor provision, to be parachute payments, the benefits under this Agreement shall be reduced to the extent necessary in the Company’s good faith opinion so that no portion of the benefits provided
herein shall be considered excess parachute payments under Section 280G of the Code or any successor provision. The Company’s good faith opinion shall be conclusive and binding upon the Optionee. 
 6.    No Right to Continued Employment: No Rights as a Shareholder.  Neither the Plan nor this Agreement shall
confer on the Optionee any right to continued employment with the Company (including any Affiliate). The Optionee shall not have any rights as a shareholder with respect to any Shares subject to the Option prior to the date of exercise of the
Option. 
 7.    Transferability.  The Option is nontransferable and may not be assigned, alienated,
pledged, attached, sold or otherwise transferred or encumbered by the Optionee, except by will or the laws of descent and distribution. No transfer of the Option shall be effective to bind the Company unless the Company shall have been furnished
with written notice thereof and a copy of such evidence as the Board may deem necessary to establish the validity of the transfer and the acceptance by the transferee of the terms and conditions hereof. 
 8.    Withholding.  The Optionee agrees to make appropriate arrangements with the Company for satisfaction of any
applicable federal, state, local or foreign tax withholding requirements or like requirements, including the payment to the Company at the time of any exercise of the Option of all such taxes and requirements, by submitting an election form to the
Company. Optionee is hereby authorized to instruct the Company to withhold from the Shares deliverable to the Optionee upon any exercise of the Option the number of Shares having a Fair Market Value equal to the applicable 

  

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minimum statutory tax withholding requirements as determined in accordance with the Plan; provided, however, in the event the full amount of your taxes
cannot be satisfied through share withholding, the remaining amount must be paid by separate check delivered by Optionee to the Company. 
 9.    Non-Competition. 
 (a) The Optionee acknowledges and recognizes the highly competitive nature of
the business of the Company and its Affiliates and accordingly agrees that during the term of the Optionee’s employment and for a period of two years after the termination thereof: 
 (i) The Optionee will not directly or indirectly engage in any business which is in competition with any line of business conducted by the Company or
any of its Affiliates, including, but not limited to, where such engagement is as an officer, director, proprietor, employee, partner, investor (other than as a holder of less than 1% of the outstanding capital stock of a publicly traded
corporation), consultant, advisor, agent or sales representative, in any geographic region in which the Company or any of its Affiliates conducted any such competing line of business; 
 (ii) The Optionee will not perform or solicit the performance of services for any customer or client of the Company or any of its Affiliates;

 (iii) The Optionee will not directly or indirectly induce any employee of the Company or any of its Affiliates to (1) engage in any
activity or conduct which is prohibited pursuant to this subparagraph 9(a), or (2) terminate such employee’s employment with the Company or any of its Affiliates. Moreover, the Optionee will not directly or indirectly employ or offer
employment (in connection with any business which is in competition with any line of business conducted by the Company or any of its Affiliates) to any person who was employed by the Company or any of its Affiliates unless such person shall have
ceased to be employed by the Company or any of its Affiliates for a period of at least 12 months; and 
 (iv) The Optionee will not directly
or indirectly assist others in engaging in any of the activities, which are prohibited under subparagraphs (i) - (iii) above. 
 (b) It is expressly understood and agreed that although the Optionee and the Company consider the restrictions contained in this Section 9 to be reasonable, if a final judicial determination is made by a court of competent jurisdiction
that the time or territory or any other restriction contained in this Agreement is an unenforceable restriction against the Optionee, the provisions of this Agreement shall not be rendered void but shall be deemed amended to apply as to such maximum
time and territory and to such maximum extent as such court may judicially determine or indicate to be enforceable. Alternatively, if any court of competent jurisdiction finds that any restriction contained in this Agreement is unenforceable, and
such restriction cannot be amended so as to make it enforceable, such finding shall not affect the enforceability of any of the other restrictions contained herein. 
 10.    Confidential Information and Trade Secrets.  The Optionee and the Company agree that certain materials, including, but not limited to, information, data and other materials
relating to customers, development programs, costs, marketing, trading, investment, sales activities, promotion, credit and financial data, manufacturing processes, financing methods, plans or the business and affairs of the Company and its
Affiliates, constitute proprietary confidential information and trade secrets. Accordingly, the Optionee will not at any time during or after the Optionee’s employment with the Company (including any Affiliate) disclose or use for the
Optionee’s own benefit or purposes or the benefit or purposes of any other person, firm, partnership, joint venture, association, corporation or other business organization, entity or enterprise other than the Company and any of its Affiliates,
any proprietary confidential information or trade secrets, provided that the foregoing shall not apply to information which is not unique to the Company or any of its Affiliates or which is generally known to the industry or the public other
than as a result of the Optionee’s breach of this covenant. The Optionee agrees that upon termination of employment with the 

  

 4 

 
Company (including any Affiliate) for any reason, the Optionee will immediately return to the Company all memoranda, books, papers, plans, information,
letters and other data, and all copies thereof or therefrom, which in any way relate to the business of the Company and its Affiliates, except that the Optionee may retain personal notes, notebooks and diaries. The Optionee further agrees that the
Optionee will not retain or use for the Optionee’s account at any time any trade names, trademark or other proprietary business designation used or owned in connection with the business of the Company or any of its Affiliates. 
 11.    Remedies.  The Optionee acknowledges that a violation or attempted violation on the Optionee’s part of
Sections 9 and 10 will cause irreparable damage to the Company and its Affiliates, and the Optionee therefore agrees that the Company and its Affiliates shall be entitled as a matter of right to an injunction, out of any court of competent
jurisdiction, restraining any violation or further violation of such promises by the Optionee or the Optionee’s employees, partners or agents. The Optionee agrees that such right to an injunction is cumulative and in addition to whatever other
remedies the Company (including any Affiliate) may have under law or equity. 
 12.    Failure to Enforce Not A
Waiver.  The failure of the Company to enforce at any time any provision of this Agreement shall in no way be construed to be a waiver of such provision or of any other provision hereof. 
 13.    Securities Laws.  Upon the acquisition of any Shares pursuant to the exercise of the Option, the Optionee or
the Optionee’s transferee, if applicable, will make or enter into such written representations, warranties and agreements as the Company may reasonably request in order to comply with applicable securities laws, with this Agreement, or as the
Company otherwise deems necessary or advisable. 
 14.    Governing Law.  This Agreement shall be
governed by and construed in accordance with the laws of the State of Delaware, without regard to the conflicts of laws provisions thereof. 
 15.    Amendments.  This Agreement may be amended or modified at any time by an instrument in writing signed by the parties hereto, or as otherwise provided under the Plan. Notwithstanding, the Company
may, in its sole discretion and without the Optionee’s consent, modify or amend the terms and conditions of this award, impose conditions on the timing and exercise of the Option, or take any other action it deems necessary or advisable, to
cause this award to be excepted from Section 409A (or to comply therewith to the extent the Company determines it is not excepted). 
 16.    Notices.  Any notice, request, instruction or other document given under this Agreement shall be in writing and shall be addressed and delivered, in the case of the Company, to the Secretary of
the Company at the principal office of the Company and, in the case of the Optionee, to the Optionee’s address as shown in the records of the Company or to such other address as may be designated in writing by either party. 
  

 5 

 17.    Award Subject to Plan; Amendments to Award.  This Award is
subject to the Plan. The terms and provisions of the Plan as it may be amended from time to time are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision of the
Plan, the applicable terms and provisions of the Plan will govern and prevail. 
 18.    Lapse of
Offer.  Any failure of the Optionee to sign and return this Agreement to the Vice President of Human Resources within 60 days of the Date of Option Grant will result in revocation of this Option and all provisions of this Agreement
will expire and will be canceled and forfeited. 
 19.    Section 409A.  This Option is intended to
be excepted from coverage under Section 409A and shall be interpreted and construed accordingly. Notwithstanding, Optionee recognizes and acknowledges that Section 409A may impose upon Optionee certain taxes or interest charges for which
Optionee is, and shall remain, solely responsible. 
 20.    Entire Agreement.  This Agreement and the
Plan are intended to be the final, complete, and exclusive statement of the terms of the agreement between Optionee and the Company with regard to the subject matter of this Agreement. This Agreement and the Plan supersede all other prior
agreements, communications, and statements, whether written or oral, express or implied, pertaining to that subject matter. This Agreement and the Plan may not be contradicted by evidence of any prior or contemporaneous statements or agreements,
oral or written, and may not be explained or supplemented by evidence of consistent additional terms. 
 21.    Electronic Delivery of Documents. 
 (a) The Plan and related documents, which may include, but do
not necessarily include, the Plan prospectus, this Agreement and financial reports of the Company, may be delivered to you electronically via CD-ROM or such other delivery determined at the Company’s discretion. 
 (b) Optionee acknowledges that, by receipt of this Award, Optionee has read this Section 21 and consents to the electronic delivery of the Plan and
related documents, as described in this Section 21. Optionee acknowledges that Optionee may receive from the Company a paper copy of any documents delivered electronically at no cost if Optionee contacts Sue Modispacher by telephone at
(724) 485-4194, by e-mail suemodispacher@consolenergy.com or by mail to CONSOL Energy Inc., CNX Center, 1000 CONSOL Energy Drive, Canonsburg, PA 15317.
 By signing the cover sheet of this Agreement, you agree to all of the terms and conditions described above and in the Plan. 
  

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