Document:

Amended and Restated Long-Term Incentive Program

 Exhibit 10.43 
 CONSOL ENERGY INC. 
 AMENDED AND RESTATED LONG-TERM INCENTIVE PROGRAM 
 CONSOL ENERGY INC., a Delaware corporation (the “Company”), hereby establishes this CONSOL ENERGY INC. AMENDED AND RESTATED LONG-TERM
INCENTIVE PROGRAM (the “Program”), in accordance with the provisions of the CONSOL Energy Inc. Equity Incentive Plan, as amended (the “Plan”), and the terms provided herein. 
 WHEREAS, the Compensation Committee of the Company’s Board of Directors (including any successor to its duties, the “Committee”)
adopted the Long-Term Incentive Program on February 19, 2007, as amended on June 20, 2007; and 
 WHEREAS, the Committee wishes to hereby amend and
restate the Long-Term Incentive Program; and 
 WHEREAS, the Company maintains the Plan and the Program for the benefit of its key employees
and that of its Affiliates and wishes to further align the interests of key employees with the interests of the stockholders by providing long-term incentive compensation; and 
 WHEREAS, the Program is intended to enhance the Company’s ability to retain the employment of participants in the Program, and also to protect the
Company’s legitimate business interests, including its confidential information, customer relationships, and goodwill, through the use of restrictive covenants; and 
 WHEREAS, Section 8 of the Plan authorizes the Company to make performance-based awards. 
 NOW, THEREFORE, the
Compensation Committee hereby adopts the Program on the following terms and conditions: 
 1. Purpose. The purposes of the Program are
to: (i) provide long-term incentive compensation to key employees to further align their interests with those of the Company’s stockholders; and (ii) protect the Company’s legitimate business interests, including its confidential
information, customer relationships, and goodwill, through the use of restrictive covenants. In addition to the terms and conditions set forth herein, awards under the Program are subject to, and governed by, the terms and conditions set forth in
the Plan, which are hereby incorporated by reference. Unless the context otherwise requires, capitalized terms used in this Program and not otherwise defined herein shall have the meanings set forth in the Plan. In the event of any conflict between
the provisions of the Program and the Plan, the Plan shall control. 
 2. Effective Date. The effective date of this Program is
February 19, 2007. The Program will remain in effect until the earlier of December 31, 2009 or the closing date of a Change in Control event as defined in the Plan, unless otherwise terminated sooner as provided herein. 
 3. Eligibility. The Chief Executive Officer of the Company (the “CEO”) shall nominate the employees of the Company and its
Affiliates (other than the CEO) who shall be eligible to participate in the Program. The Committee shall select from a group consisting of the CEO and the nominated employees those individuals who shall participate in the Program (each a
“Participant” and collectively the “Participants”), subject to the Board’s ratification of awards to the CEO. In the event that an employee is hired by the Company or an Affiliate during the Performance Period, upon
nomination by the CEO and 

 
to the extent consistent with Section 162(m) of the Code, the Committee shall determine whether such employee will become a Participant in the Program.

 4. Performance Share Unit Awards. 
 4.1 The Committee shall determine the number of performance share units (the “Performance Share Units”) to be awarded to each Participant. Each Performance Share Unit awarded under the Program shall
represent a contingent right to receive one share of the Company’s common stock as described more fully herein, to the extent such Performance Share Unit is earned and becomes payable pursuant to the terms of this Program. Notwithstanding,
Performance Share Units as initially awarded have no independent economic value, but rather are mere units of measurement used for purpose of calculating the value of benefits, if any, to be paid under the Program. 
 4.2 Performance Share Units shall be increased and/or decreased in accordance with the terms of the Program as described more fully
herein. Notwithstanding any provision of this Plan to the contrary, the Committee shall not use its discretionary authority to increase the number of Performance Share Units that would otherwise be earned upon attainment of the Performance Condition
(as defined below) with respect to any award that is intended to be performance-based compensation under Section 162(m) of the Code. 
 5. Performance Condition of the Performance Share Units. Subject to Section 9, fifty percent (50%) of the total number of Performance Share Units that may be earned by a Participant will be based on the Company’s total
stockholder return relative to the total stockholder return of each company in the peer group (as set forth on Attachment A), and fifty percent (50%) of the total number of Performance Share Units that may be earned by a Participant will be
based on the absolute growth in the Company’s earnings before income, taxes, depreciation and amortization (EBITDA), each as approved by (and in accordance with the procedures established by) the Committee on March 12, 2007 and on file
with the Committee (collectively the “Performance Condition”), for the performance period of January 1, 2007 to December 31, 2009 (the “Performance Period”); provided, however, that (other than in the event of a
Change in Control) the ability to earn Performance Share Units and to receive payment thereon under the Program is expressly contingent upon achievement of the threshold for the Performance Condition and otherwise satisfying all other terms and
conditions of the Program; provided, further, that in the event of a Change in Control the Performance Condition will be deemed to have been achieved at target levels of performance. 
 6. Issuance and Distribution. 
 6.1 After the end of the Performance Period, the Committee shall certify in writing prior to payment the extent to which the applicable Performance Condition and any other material terms of the Program have been achieved. For purposes of
this provision, and for so long as the Code permits, the approved minutes of the Committee meeting in which the certification is made may be treated as written certification. 
 6.2 Subject to the terms and conditions of this Program, Performance Share Units earned by a Participant will be settled and paid in
shares of the Company’s common stock in calendar year 2010, on or before March 15th (the “Payment Date”); provided, however, in the event of a Change in Control, the value of such units will be settled on the closing date
of the Change in Control transaction (the “CiC Payment Date”) in accordance with the provisions of Section 5 herein; provided, further, in the event of a Change in Control, Performance Share Units may, in the Committee’s
discretion, be settled in cash and/or securities or other property. Notwithstanding the foregoing, no award intended to qualify as 

  

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performance-based compensation within the meaning of Section 162(m) of the Code shall be become payable or paid prior to approval of the Plan’s
material terms by the Company’s stockholders. 
 7. Dividends. Each Performance Share Unit will be cumulatively credited with
dividends that are paid on the Company’s common stock in the form of additional units. These additional units shall be deemed to have been purchased on the record date for the dividend using the closing stock price of the Company’s common
stock as reported in The Wall Street Journal and shall be subject to all the same conditions and restrictions as provided in this Program applicable to Performance Share Units. 
 8. Change in Participant’s Status. 
 8.1 In the event a Participant Separates from Service (i) on or after the date the Participant has reached the age of 55 by reason of an “Early Retirement” or “Incapacity Retirement,”
(ii) by reason of a “Normal Retirement,” (iii) on account of death or Disability (other than an Incapacity Retirement), or (iv) by reason of a reduction in force as specified and implemented by the Company, prior to the
Payment Date or the CiC Payment Date, as applicable, the Participant shall be entitled to retain the Performance Share Units and receive payment therefore to the extent earned and payable pursuant to the provisions of this Program; provided,
however, that in the case of a Separation from Service on account of Disability, the Participant shall only be entitled to retain a prorated portion of the Performance Share Units determined at the end of the Performance Period and based on the
ratio of the number of complete months the Participant is employed or serves during the Performance Period to the total number of months in the Performance Period (or the number of remaining months in the Performance Period if the Participant is
admitted after the start of the Performance Period). In the event a Participant Separates from Service for any other reason, including, but not limited to, by the Participant voluntarily, or by the Company with Cause or without Cause (other than in
connection with a reduction in force as specified above), prior to the Payment Date or the CiC Payment Date, as applicable, the Performance Share Units awarded to the Participant shall be cancelled and forfeited, whether payable or not, without
payment by the Company or any Affiliate. Any payments due a deceased Participant shall be paid to his estate as provided herein after the end of the Performance Period. 
 8.2 For purposes of the Program: (i) the terms “Early Retirement,” “Incapacity Retirement” and “Normal
Retirement,” shall have the meaning ascribed thereto under the CONSOL Energy Inc. Employee Retirement Plan, as amended, or any successor thereto applicable to the Participant; and (ii) the term “Separation from Service” shall
mean the Participant’s death, retirement or other termination of employment with the Company and all of its controlled group members within the meaning of Section 409A of the Code. For purposes of the Program, the determination of
controlled group members shall be made pursuant to the provisions of Section 414(b) and 414(c) of the Code; provided that the language “at least 50 percent” shall be used instead of “at least 80 percent” in each place it
appears in Section 1563(a)(1),(2) and (3) of the Code and Treas. Reg. § 1.414(c)-2; provided, further, where legitimate business reasons exist (within the meaning of Treas. Reg. § 1.409A-1(h)(3)), the language “at least 20
percent” shall be used instead of “at least 80 percent” in each place it appears. Whether a Participant has a Separation from Service will be determined based on all of the facts and circumstances and in accordance with the guidance
issued under Section 409A, as applicable. 
 9. Responsibilities of the Committee. In addition to the authority granted to the
Committee under the Plan, the Committee has responsibility for all aspects of the Program’s administration, including but not limited to: ensuring that the Program is administered in accordance with the provisions of the Program and the Plan;
approving Participants; authorizing Performance Share Unit awards to Participants; and adjusting Performance Share Units as authorized hereunder consistent with the terms of the Program. The ministerial responsibility of the Program (e.g.,
management of day-to-day matters) is a function that has been delegated to the Company’s officers as permitted by the terms of the Plan and in 

  

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compliance with applicable law and regulation. All decisions of the Committee under the Program shall be final, conclusive and binding on all interest
parties. No member of the Committee shall be liable for any action or determination made in good faith on the Program or any Performance Share Units awarded thereunder. 
 10. Tax Consequences/Withholding. 
 10.1 It is intended that: (i) a
Participant’s Performance Share Units shall be considered to be subject to a substantial risk of forfeiture in accordance with those terms as defined in Section 409A and 3121(v)(2) of the Code; and (ii) a Participant shall have merely
an unfunded, unsecured promise to be paid a benefit, and such unfunded promise shall not consist of a transfer of “property” within the meaning of Code Section 83. 
 10.2 A Participant shall timely remit to the Company all applicable federal, state and local income and employment taxes (including taxes
of any foreign jurisdiction) which the Company is required to withhold at any time with respect to the Performance Share Units. Such payment shall be made to the Company in full, in cash or check, or as otherwise authorized under the terms of the
Plan. 
 10.3 This Program is intended to be excepted from coverage under Section 409A of the Code and the regulations
promulgated thereunder and shall be construed accordingly. Notwithstanding any provision of this Program to the contrary, if any benefit provided under this Program is subject to the provisions of Section 409A of the Code and the regulations
issued thereunder (and not excepted therefrom), the provisions of the Program shall be administered, interpreted and construed in a manner necessary to comply with Section 409A, the regulations issued thereunder (or disregarded to the extent
such provision cannot be so administered, interpreted, or construed). The Company reserves the right to accelerate, delay or modify distributions to the extent permitted under Section 409A, the regulations and other binding guidance promulgated
thereunder. Notwithstanding, Section 409A of the Code may impose upon the Participant certain taxes or other charges for which the Participant is and shall remain solely responsible, and nothing contained in this Program or the Plan shall be
construed to obligate the Company or any Affiliate for any such taxes or other charges. 
 10.4 Notwithstanding any provision
of the Program to the contrary, if an award of Performance Share Units under this Program is intended to qualify as performance-based compensation under Section 162(m) of the Code and the regulations issued thereunder and a provision of this
Program would prevent such award from so qualifying, such provision shall be administered, interpreted and construed to carry out such intention (or disregarded to the extent such provision cannot be so administered, interpreted or construed).

 11. Non-Competition. 
 11.1 The Participants hereunder agree that this Section 11 is reasonable and necessary in order to protect the legitimate business interests and goodwill of the Company, including the Company’s trade
secrets, valuable confidential business and professional information, substantial relationships with prospective and existing customers and clients, and specialized training provided to Participants and other employees of the Company. The
Participants acknowledge and recognize the highly competitive nature of the business of the Company and its Affiliates and accordingly agree that during the term of each of their employment and for a period of two (2) years after the
termination thereof: 
 (a) The Participants will not directly or indirectly engage in any business substantially similar to
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 business; 
  

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 (b) The Participants will not contact, solicit, perform services for, or accept business
from any customer or prospective customer of the Company or any of its Affiliates; 
 (c) The Participants 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 subparagraph 11.1(a); or (2) terminate such employee’s employment with the Company or
any of its Affiliates. Moreover, the Participants will not directly or indirectly employ or offer employment (in connection with any business substantially similar to 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 
 (d) The Participants will not directly or indirectly assist others in engaging in any of the activities, which are prohibited under
subparagraphs (a) — (c) above. 
 11.2 It is expressly understood and agreed that although the Participants and
the Company consider the restrictions contained in this Section 11 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 Program is
an unenforceable restriction against any Participant, the provisions of this Program 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 against such Participant. Alternatively, if any court of competent jurisdiction finds that any restriction contained in this Program 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. The restrictive covenants set forth in this Section 11 shall be extended by any amount of time that a Participant is in breach of
such covenants, such that the Company receives the full benefit of the time duration set forth above. 
 12. Confidential Information and
Trade Secrets. The Participants 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
Participants will not at any time during or after a Participant’s employment with the Company (including any Affiliate) disclose or use for such Participant’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 such Participant’s breach of this covenant. The Participants agree that
upon termination of employment with the Company (including any Affiliate) for any reason, the Participants 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 Participants may retain personal notes, notebooks and diaries. The Participants further agree that the Participants will not retain or use for
their own 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. 
  

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 13. Remedies/Forfeiture. 
 13.1 The Participants acknowledge that a violation or attempted violation on a Participant’s part of Sections 11 and 12 will cause
irreparable damage to the Company and its Affiliates, and the Participants therefore agree 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 Participants or a Participant’s employees, partners or agents. The Participants agree 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. Specifically, the Participants agree that such right to an injunction is cumulative and in addition to the Participants’ obligations to make timely payment to the Company as set forth in
Section 13.2 of this Program. The Participants further acknowledge and agree that a Participant’s Performance Share Units shall be cancelled and forfeited without payment by the Company if such Participant breaches any of his or her
obligations set forth in Section 12 and 13 herein. 
 13.2 At any point after becoming aware of a breach of any
obligation set forth in Sections 11 and 12 of this Program, the Company shall provide notice of such breach to a Participant. By agreeing to participate in this Program, the Participants agree that within ten (10) days after the date the
Company provides such notice, a Participant shall pay to the Company in cash an amount equal to any and all distributions paid to or on behalf of such Participant under of this Program within the six (6) months prior to the date of the earliest
breach. The Participants agree that failure to make such timely payment to the Company constitutes an independent and material breach of the terms and conditions of this Program, for which the Company may seek recovery of the unpaid amount as
liquidated damages, in addition to all other rights and remedies the Company may have resulting from a Participant’s breach of the obligations set forth in Sections 11 and 12. The Participants agree that timely payment to the Company as set
forth in this provision of the Program is reasonable and necessary because the compensatory damages that will result from breaches of Sections 11 and/or 12 cannot readily be ascertained. Further, the Participants agree that timely payment to the
Company as set forth in this provision of the Program is not a penalty, and it does not preclude the Company from seeking all other remedies that may be available to the Company, including without limitation those set forth in this Section 13.

 14. Assignment/Nonassignment. 
 14.1 The Company shall have the right to assign this Program, including without limitation Sections 11 and 12, and the Participants agree to remain obligated by all provisions of this Program that are assigned to any
successor, assign or surviving entity. Any successor to the Company is an intended third party beneficiary of this Program. 
 14.2 The Performance Share Units shall not be sold, pledged, assigned, hypothecated, transferred or disposed of (a “Transfer”) in any manner, other than by will or the laws of descent and distribution. Any attempt by a
Participant to Transfer the Performance Share Units in violation of the terms of the Program shall render the Performance Share Units null and void, and result in the immediate forfeiture of such Performance Share Units, without payment by the
Company. 
 15. Impact on Benefit Plans. Payments under the Program shall not be considered as earnings for purposes of the
Company’s and/or Affiliate’s qualified retirement plans or any such retirement or benefit plan unless specifically provided for therein. Nothing herein shall prevent the Company or any Affiliate from maintaining additional compensation
plans and arrangements for its employees. 
  

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 16. Successors; Changes in Stock. The obligation of the Company under the Program shall be binding
upon the successors and assigns of the Company. If a dividend or other distribution shall be declared upon the Company’s common stock payable in shares of Company common stock, the Performance Share Units and the shares of Company common stock
on which the Performance Condition is based shall be adjusted by adding thereto the number of shares of Company common stock which would have been distributable thereon if such shares and Performance Share Units had been actual Company shares and
outstanding on the date fixed for determining the stockholders entitled to receive such stock dividend or distribution. In the event of any spin-off, split-off or split-up, dividend in property other than cash, recapitalization or other change in
the capital structure of the Company, or any merger, consolidation, reorganization, partial or complete liquidation or other distribution of assets (other than a normal cash dividend), or any other corporate transaction or event having an effect
similar to any of the foregoing, or extraordinary distribution to stockholders of the Company’s common stock, the Performance Share Units and the shares of Company common stock on which the Performance Condition is based shall be appropriately
adjusted to prevent dilution or enlargement of the rights of Participants which would otherwise result from any such transaction, provided such adjustment shall be consistent with Code Section 162(m) and Section 409A, as applicable.

 In the case of a Change in Control, any obligation under the Program shall be handled in accordance with the terms of Sections 6 hereof.
In any case not constituting a Change in Control in which the Company’s common stock is changed into or becomes exchangeable for a different number or kind of shares of stock or other securities of the Company or another corporation, or cash or
other property, whether through reorganization, reclassification, recapitalization, stock split-up, combination of shares, merger or consolidation, then (i) the value of the Performance Share Units constituting an award shall be calculated
based on the closing price of such common stock on the closing date of the transaction on the principal market on which such common stock is traded, (ii) there shall be substituted for each Performance Share Unit constituting an award, the
number and kind of shares of stock or other securities (or cash or other property) into which each outstanding share of the Company’s common stock shall be so changed or for which each such share shall be exchangeable, and (iii) the share
of Company common stock on which the Performance Condition is based shall be appropriately and equitably adjusted provided any such adjustments shall be consistent with Code Section 162(m) and Section 409A, as applicable. In the case of
any such adjustment, the Units shall remain subject to the terms of the Program. 
 17. Governing Law, Jurisdiction, and Venue.

 17.1 This Program shall be governed by and construed in accordance with the laws of the State of Delaware, without giving
effect to the principles of conflicts of law. 
 17.2 Participant hereby irrevocably submits to the personal and exclusive
jurisdiction of the United States District Court for the Western District of Pennsylvania or the Court of Common Pleas of Allegheny County, Pennsylvania in any action or proceeding arising out of, or relating to, this Program (whether such action or
proceeding arises under contract, tort, equity or otherwise). Participant hereby irrevocably waives any objection which Participant now or hereafter may have to the laying of venue or personal jurisdiction of any such action or proceeding brought in
said courts. 
 17.3 Jurisdiction over, and venue of, any such action or proceeding shall be exclusively vested in the
United States District Court for the Western District of Pennsylvania or the Court of Common Pleas of Allegheny County, Pennsylvania. 
  

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 17.4 Provided that the Company commences any such action or proceeding in the courts identified in
Section 17(c), Participant irrevocably waives Participant’s right to object to or challenge the above selected forum on the basis of inconvenience or unfairness under 28 U.S.C. § 1404, 42 Pa. C.S. § 5322 or similar state or
federal statutes. Participant agrees to reimburse the Company for all of the attorneys fees and costs it incurs to oppose Participant’s efforts to challenge or object to litigation proceeding in the courts identified in Section 17(c) with
respect to actions arising out of or relating to this Program (whether such actions arise under contract, tort, equity or otherwise). 
 18.
Failure to Enforce Not a Waiver. The failure of the Company to enforce at any time any provision of this Program shall in no way be construed to be a waiver of such provision or of any other provision hereof. 
 19. Severability. In the event that any one or more of the provisions of this Program shall be held to be invalid, illegal or unenforceable, the
validity, legality or enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 20. Funding.
The Program is not funded and all amounts payable hereunder, if any, shall be paid from the general assets of the Company or its Affiliate, as applicable. No provision contained in this Program or the Plan and no action taken pursuant to the
provisions of this Program or the Plan shall create a trust of any kind or require the Company to maintain or set aside any specific funds to pay benefits hereunder. To the extent a Participant acquires a right to receive payments from the Company
under the Program, such right shall be no greater than the right of any unsecured general creditor of the Company. 
 21. Headings.
The descriptive headings of the Sections of this Program are inserted for convenience of reference only and shall not constitute a part of this Program. 
 22. Amendment or Termination of this Program. This Program may be modified, amended, suspended or terminated by the Committee at any time; provided, however, that no modification, amendment, suspension or
termination of this Plan shall adversely affect the rights of a Participant under the Program without the consent of such Participant. Notwithstanding the foregoing or any provision of this Program to the contrary, that the Company may, in its sole
discretion and without the Participant’s consent, modify or amend the terms of the Plan or a Performance Share Unit award, or take any other action it deems necessary or advisable, to cause the Plan to comply with Section 409A (or an
exception thereto). Any modification, amendment, suspension or termination shall only be effective upon a writing issued by the Company, and a Participant shall not offer evidence of any purported oral modifications or amendments to vary or
contradict the terms of this Program document. 
 IN WITNESS WHEREOF, the undersigned have executed this Program on the day and year
indicated below. This Program may be executed in more than one counterpart, each of which is deemed to be an original and all of which taken together constitute one and the same agreement. 
  

					
			
	Dated: January __, 2008	 		 	  
		 		 	John Whitmire, Chairman, on behalf of the Board of Directors
			
	Dated: January __, 2008	 		 	  
		 		 	William Powell, Chairman, on behalf of the Compensation Committee

  

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 ATTACHMENT A 
 Peer group: 
 Alliance Resource Partners LP 
 Alpha Natural Resources Inc. 
 Anadarko Petroleum Corp. 
 Apache Corp. 
 Arch Coal Inc. 
 Cabot Oil & Gas Corp. 
 Callon Petroleum CO/DE 
 Chesapeake Energy Corp. 
 Cimarex Energy Co. 
 Comstock
Resources Inc. Denbury Resources Inc. 
 Devon Energy Corp. 
 Encana Corp. 
 EOG Resources Inc. 
 Foundation Coal
Holdings Inc. 
 Houston Exploration Co. 
 International Coal
Group Inc. 
 James River Coal Co. 
 Massey Energy Co. 

Newfield Exploration Co. 
 Nexen Inc. 
 Nobel Energy Inc. 
 Peabody Energy Corp. 
 Penn Virginia Corp. 
 Pioneer Natural Resources Co. 
 Pogo Producing Co. 
 Rio Tinto Group (GBR)-ADR 
 St. Mary Land & Exploration Co. 
 Stone Energy Corp. 
 Ultra Petroleum Corp. 
 Westmoreland Coal Co.Amended and Restated 2004 CONSOL Energy Inc. Directors' Deferred Fee Plan

 Exhibit 10.49 
 CONSOL ENERGY INC. 
 DIRECTORS’ DEFERRED FEE PLAN  
 (2004 PLAN) 
 (Amended and
Restated on December 4, 2007) 
 ARTICLE I 
 GENERAL 
 1.1 Purpose. This Plan is established and maintained by the
Company to allow non-employee Directors to defer payment of all or a portion of their annual Board Retainer Fees and/or Director Meeting Fees. 
 1.2 Definitions. Unless a different meaning is plainly implied by the context, the following terms as used in this Plan shall have the following meanings: 
 (a) “Account” shall mean the bookkeeping account established and maintained for each Participant for recording
amounts deferred pursuant to Section 3.1. 
 (b) “Administrator” shall mean the Board or any
person, group or entity designated by the Board in accordance with the provisions of Article V to administer the Plan. 
 (c) “Beneficiary” shall mean the person or persons designated to receive benefits after the death of the Participant as provided in Section 4.3. 
 (d) “Board” shall mean the Board of Directors of the Company. 
 (e) “Board Retainer Fees” shall mean the annual retainer fees payable to members of the Board in cash (e.g. the
Annual Board Retainer, Annual Committee Chair Retainer, Annual Audit Committee Chair Retainer, Annual and Audit Committee Member Retainer). 
 (f) “Change in Control” shall have the same meaning ascribed to it under the CONSOL Energy Inc. Equity Incentive Plan. 
 (g) “Code” shall mean the Internal Revenue Code of 1986, or any provision or section thereof herein specifically
referred to, as such provision or section may from time to time be amended or replaced. 
 (h) “Deferral
Agreement” shall mean a written agreement, in the form attached hereto as Exhibit 1, entered into between the Company and a Participant pursuant to Section 2.3 of the Plan. 
 (i) “Company” shall mean CONSOL Energy Inc. 
 (j) “Director” shall mean a member of the Board who is not an employee of the Company or any of its affiliates.

 (k) “Director Meeting Fees” shall mean attendance fees, if any,
payable in cash for each meeting of the Board attended by the Director or any committee meeting the Director attends for a committee on which such Director serves. 
 (l) “Effective Date” shall mean the effective date of the Plan, which shall be July 20, 2004. 
 (m) “Interest Rate” shall mean the ten year Moody AAA Bond Rate. 
 (n) “Participant” shall mean a Director who is eligible to participate in the Plan and has elected to do so
pursuant to Section 2.3. 
 (o) “Plan” shall mean the CONSOL Energy Inc. Directors’ Deferred
Fee Plan. 
 (p) “Plan Year” shall mean the one-year period between the annual stockholders’
meeting and the next following annual stockholders’ meeting; [provided, however, for the year in which the Plan becomes effective, “Plan Year” shall mean the period beginning on the Effective Date and ending on the next
following annual stockholders’ meeting.] 
 (q) “Section 409A” shall mean
Section 409A of the Code, the regulations and other binding guidance promulgated thereunder. 
 (r)
“Separation from Service” shall mean the Director’s death, retirement or other termination of service with the Company and all of its controlled group members within the meaning of Section 409A of the Code. For
purposes hereof, the determination of controlled group members shall be made pursuant to the provisions of Section 414(b) and 414(c) of the Code; provided that the language “at least 50 percent” shall be used instead of “at least
80 percent” in each place it appears in Section 1563(a)(1),(2) and (3) of the Code and Treas. Reg. § 1.414(c)-2; provided, further, where legitimate business reasons exist (within the meaning of Treas. Reg. §
1.409A-1(h)(3)), the language “at least 20 percent” shall be used instead of “at least 80 percent” in each place it appears. Whether the Director has a Separation from Service will be determined based on all of the facts and
circumstances and in accordance with the guidance issued under Section 409A. 
 1.3 Plurals and Gender. Where
appearing in the Plan, the masculine gender shall include the feminine and neuter genders, and the singular shall include the plural and vice versa, unless the context clearly indicates a different meaning. 
 1.4 Headings. The headings and subheadings in this Plan are inserted for the convenience of reference only and are to be ignored in
any construction of the provisions thereof. 
 1.5 Severability. In case any provision or portion of this Plan shall be
held illegal or void, such provision or portion shall not affect the remainder of this Plan, but shall be fully severable, and the Plan shall be construed and enforced as if said provision had never been inserted herein. 
 ARTICLE II 
 ELIGIBILITY AND
PARTICIPATION 
 2.1 Eligibility. Each member of the Board who is a Director on the Effective Date shall be
eligible to participate in the Plan beginning on the Effective Date. Any person who becomes a Director 

  

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after the Effective Date shall be eligible to participate in the Plan on the day such person becomes a Director. 
 2.2 Participation. Each Director shall become a Participant in the Plan as of the date on which such Director completes and submits
an irrevocable Deferral Agreement in accordance with Section 2.3. 
 2.3 Election Procedure. A Director may file a
Deferral Agreement at any time during the 30-day period following the date on which the Director initially becomes eligible to participate in the Plan. Any such initial Deferral Agreement must be filed with the Company within the 30-day election
period; provided, however, that any such Deferral Agreement shall only apply to fees earned and payable for services rendered after the date on which the Deferral Agreement is delivered to the Company. Accordingly, if a Deferral Agreement is made in
the first-year of eligibility but after the beginning of the Plan Year, the Deferral Agreement shall only apply to the total amount of such fees multiplied by the ratio of (i) the number of days remaining in the Plan Year after the election to
(ii) the total number of days in the Plan Year. 
 A Director shall also be permitted to submit an annual election for each Plan Year by
filing a new Deferral Agreement in relation to the fees to be deferred during such Plan Year. Any such annual election must be filed with the Company on or before December 31st of the calendar year preceding the beginning of the Plan Year to
which the Deferral Agreement relates (or such other date as permitted by the Administrator to the extent consistent with Section 409A). If a Director fails to timely file a completed Deferral Agreement for a Plan Year, none of such
Director’s Board Retainer Fees or Director Meeting Fees will be deferred for that Plan Year. 
 To be valid, the Deferral Agreement
must indicate the portion of Board Retainer Fees and/or Director Meeting Fees to be deferred and the timing of Plan distribution. A deferral is effective upon receipt by the Company, within the applicable election period, of the correctly
completed Deferral Agreement. A Deferral Agreement is irrevocable during the Plan Year to which it applies; provided, however, if the Director suffers a disability or dies, the Director’s deferral election shall be cancelled. For purposes of
this Section, a disability refers to any medically determinable physical or mental impairment resulting in the Director’s inability to perform the duties of his or her position or any substantially similar position, where such impairment can be
expected to result in death or can be expected to last for a continuous period of not less than six months. 
 ARTICLE III 

DEFERRED FEES 
 3.1
Accounts. The Company shall establish an Account on behalf of each Participant which shall be credited with deferred fees as provided in Section 3.2 and Earnings as provided in Section 3.3, and debited to reflect payments
made to such Participant pursuant to Article IV. A Participant shall have no right to receive any amounts credited to his Account except as expressly provided in Article IV of the Plan. 
 3.2 Board Retainer and Director Meeting Fees. To the extent provided in the Deferral Agreement in effect for any Plan Year, a
Participant may elect to defer the right to receive: (i) Board Retainer Fees stated as a whole percentage or a dollar amount of such fees; and/or (ii) Director Meeting Fees on an all or nothing basis. The minimum deferral amount with
respect to Board Retainer Fees is $10,000 per Plan Year. The amount of any fees deferred with respect to any Plan Year shall reduce the 

  

 -3- 

 
amount of such fees otherwise payable to the Participant for such Plan Year on a ratable basis over the period in which such amounts would otherwise be paid,
and the amount of each such reduction shall be credited to the Participant’s Account as of the date of such reduction. 
 3.3
Earnings. The Participant’s Account shall be adjusted by an amount equal to the amount that would have been earned (or lost) if the amounts deferred under the Plan had been invested in hypothetical investments designated by the
Participant, based on a list of hypothetical investments provided by the Administrator from time to time (such hypothetical earnings or losses shall be referred to as “Earnings”). The Participant shall designate the investments used to
measure Earnings from the list of authorized investments provided by the Administrator by completing the appropriate form or in such other manner as the Administrator may designate. The Participant may change such designations at such times as are
permitted by the Administrator, provided that the Participant shall be entitled to change such designations at least annually. Earnings shall be credited to the Participant’s Account quarterly and shall be credited to a Participant’s
Account until all payments with respect to such Account have been made under the Plan. Neither the Company nor the Administrator shall act as a guarantor, or be liable or otherwise responsible for the investment performance of the designated
investments (including any losses sustained by a Participant) with respect to a Participant’s Account. 
 If a Participant fails to
designate the investment of his or her Account, the Account shall be credited, on a quarterly basis, with interest based on the Interest Rate in effect on the last day of the applicable quarter. In the event any such Participant terminates service
during a Plan Year, such Participant’s interest credit for the quarter in which the termination occurs will be based on the Interest Rate in effect on the day of the Participant’s termination and shall be pro-rated based on the
Participant’s service during such quarter. No interest will accrue for periods after a Participant’s termination of service during the quarter. 
 3.4 Vesting. Amounts credited to a Participant’s Account shall be fully vested at all times. 
 ARTICLE IV 
 PAYMENT OF DEFERRED FEES 
 4.1 Method of Distribution. Unless a Participant has selected a different payment option as set forth below, the amount payable to a
Participant or his Beneficiary under the Plan shall be paid in cash in a single sum as provided in Section 4.2. Alternatively, a Participant may elect, in his or her initial Deferral Agreement, to receive payment of his or her Account in a
single payment upon Separation from Service or in annual installments (not to exceed five). A Participant may modify any such distribution election by a subsequent written distribution election (on a form approved and provided by the Company);
provided, however, an initial election can only be changed if the following requirements are satisfied: (i) the change will not take effect until twelve (12) months after the election is made; (ii) with respect to a payment on a
specified distribution date, the change must be made at least twelve (12) months prior to the previously scheduled payment date (or initial scheduled payment date in the case of installment payments); and (iii) the payment with respect to
which the change is made must be deferred for at least five (5) years from the date the payment would otherwise have been made (or initial scheduled payment date in the case of installment payments); provided, further, the Administrator may, in
its discretion, authorize a Participant to change a distribution election under any applicable transition rule authorized under Section 409A to the extent consistent therewith. 
 4.2 Timing of Distribution. A Participant’s Account will be paid (or commence payment) upon the earlier of the following
designated payment dates: (i) the Participant’s Separation from Service, 

  

 -4- 

 
or (ii) the date elected by the Participant which must be at least two years after the end of the Plan Year for which the fees are deferred. For
purposes of Section 409A and the Plan: (i) the right to installment payments shall be treated as the right to a single payment; and (ii) a payment shall be treated as made on the scheduled payment date if such payment is made at such
date or a later date in the same calendar year or, if later, by the 15th day of the third calendar month following the scheduled payment date. Except as specified in Section 4.1, a Participant shall have no right to designate the date of any
payment under the Plan. Notwithstanding any provision herein to the contrary, if the Director is a “specified employee” for purposes of Section 409A, any payment to the Director due upon Separation from Service will be delayed and
paid on the six (6) month anniversary of the date the Director Separates from Service (or, if earlier, the death of the Director). Any payment that would otherwise have been due or owing during such six-month period will be paid on the first
business day following the end of the six-month period. 
 4.3 Designation of Beneficiary. 
 (a) Notwithstanding the provisions of Section 4.1 or 4.2, in the event of the death of a Participant, whether before or after
Separation from Service, any amounts remaining in the Account to which he or she was entitled shall be distributed in a single sum on the first business day after the end of the calendar quarter in which the death of the Participant occurred. Each
Participant shall have the right to designate a Beneficiary or Beneficiaries to receive any amount which may be payable under the Plan after his death. Such designation of Beneficiary shall be in writing in the form attached as
Exhibit 2, and shall be effective when received by the Company. The Company shall keep records in writing of all such designations. The Participant shall have the right to change such designation by filing a new designation form
with the Company. Such change of Beneficiary shall become effective upon its receipt by the Company, and any such change shall be deemed to revoke all prior designations. 
 (b) If a Participant fails to properly designate a Beneficiary or if no designated Beneficiary survives the Participant, his undistributed
Account shall be paid to the person or persons in the first of the following classes of successive preference beneficiaries surviving at the death of the Participant: (1) his widow or widower, or (2) his estate. The Administrator shall
decide which Beneficiary, if any, shall be validly designated, and the Administrator’s decision shall be binding and conclusive of all persons. 
 4.4 Incapacity. If the Company shall receive evidence satisfactory to it that a Participant or Beneficiary entitled to receive any benefit under the Plan is, at the time when such benefit becomes
payable, a minor, or is physically or mentally incompetent to receive such benefit and to give a valid release thereof, and that another person or an institution is then maintaining or has custody of such Participant or Beneficiary, and that no
guardian, committee or other representative of the estate of such Participant or Beneficiary shall have been duly appointed, payment of such benefit otherwise payable to such Participant or Beneficiary may be made to such other person or
institution, including a custodian under a Uniform Gifts to Minors Act, or corresponding legislation (who shall be an adult, a guardian of the minor or a trust company), and the release of such other person or institution shall be a valid and
complete discharge for such payment. 
 ARTICLE V 
 ADMINISTRATION 
 5.1 Administrative Authority. Except as provided herein,
the Board shall be the Administrator and shall have the sole responsibility for the control, operation and administration of the Plan, and shall have the power, authority and discretion to take all actions and to make all decisions and 

  

 -5- 

 
interpretations which it shall determine to be necessary or appropriate in order to administer and operate the Plan, including the power to (i) resolve
and determine all disputes or questions arising under the Plan, including the power to determine the rights of Participants and Beneficiaries, and their respective benefits, and to remedy any ambiguities, inconsistencies or omissions in the Plan;
(ii) adopt such rules and regulations which, in its sole and absolute discretion, may be necessary or appropriate for the proper and efficient administration of the Plan; (iii) implement the Plan in accordance with its terms and such rules
and regulations as may be adopted; (iv) notify the Participants of any amendment or termination of, or change in, any benefits available under the Plan; and (v) prescribe such forms as may be required for Directors to make elections under,
and otherwise participate in, the Plan. The Administrator shall have the sole and absolute discretion to interpret and construe the terms of the Plan. 
 5.2 Conclusive Decisions. The determination of the Administrator on any matter pertaining to the Plan within the powers and discretion granted to it shall be final, binding and conclusive on all
Participants, Beneficiaries and all other persons dealing in any way or capacity with the Plan; provided, however, in relation to any action involving the interpretation or application of the terms of the Plan for claims arising in connection with
or following a Change in Control, the court or other reviewing entity shall review the interpretations, decisions and actions of the Administrator de novo. 
 5.3 Duties of Administrator. 
 (a) The Administrator may appoint persons
or firms, or otherwise act to secure specialized advice or assistance as it deems necessary or desirable in connection with the administration and operation of the Plan, and the Administrator shall be entitled to rely conclusively upon, and shall be
fully protected in any action or omission taken by it in good faith reliance upon the advice or opinion of such firms or persons. 
 (b) The Administrator shall have the power and authority to delegate from time to time by written instrument all or any part its duties, powers or responsibilities under the Plan, both ministerial and discretionary, as it deems appropriate,
to any person, and in the same manner to revoke any such delegation of duties, powers or responsibilities. Any action of such person in the exercise of such delegated duties, powers or responsibilities shall have the same force and effect for all
purposes hereunder as if such action had been taken by the Administrator. Further, the Administrator may authorize one or more persons to execute any certificate or document on behalf of the Administrator, in which event any person notified by the
Administrator of such authorization shall be entitled to accept and conclusively rely upon any such certificate or document executed by such person as representing action by the Administrator until such third person shall have been notified of the
revocation of such authority. The Administrator shall not be liable for any act or omission of any person to whom the Administrator’s duties, powers or responsibilities have been delegated, nor shall any person to whom any duties, powers or
responsibilities have been delegated have any liabilities with respect to any duties, powers or responsibilities not delegated to him. 
 5.4 Standard of Care. All representatives of the Board and the Administrator shall use ordinary care and diligence in the performance of their duties pertaining to the Plan, but no such individual shall incur any
liability: (i) by virtue of any contract, agreement, bond or other instrument made or executed by him or on his behalf in his official capacity with respect to the Plan; (ii) for any act or failure to act, or any mistake or judgment made,
in his official capacity with respect to the Plan, unless it is the result of his gross negligence or willful misconduct; or (iii) for the neglect, omission or wrongdoing of any other person involved with the Plan. The Company shall indemnify
and hold harmless each such individual who is an employee or Director of the Company from the effects and consequences of his acts, or from omissions and conduct in his official capacity with respect to the Plan, except to the extent that such
effects and consequences shall result from his own willful misconduct or 

  

 -6- 

 
gross negligence. If any matter arises as to which an individual is entitled to indemnity hereunder, the individual shall give the Company prompt written
notice thereof. The Company, at its own expense, shall then take charge of the disposition of the asserted liability, including the compromise or the conduct of litigation. The indemnitee may, at his own expense, retain his own counsel and share in
the conduct of any such litigation, but the failure to do so shall not adversely affect his right to indemnity. 
 5.5
Expenses. Expenses incurred in the administration and operation of the Plan shall be paid by the Company. 
 5.6 Attorney Fees. If a Participant’s service as a Director for the Company terminates on or after a Change in Control and the Company does not pay deferred amounts credited to such Participant’s Account when
they are due, the Company shall pay the Participant’s reasonable attorneys’ fees to enforce such Participant’s rights under the Plan if the deferred amounts are not paid within 60 days after the Participant’s written demand for
payment. 
 5.7 Section 409A. The provisions of this Plan and all deferral elections made hereunder shall be
administered, interpreted and construed in a manner necessary in order to comply with Section 409A or an exception thereto (or disregarded to the extent such provision cannot be so administered, interpreted or construed). It is intended that
distribution events authorized under this Plan qualify as a permissible distribution events for purposes of Section 409A, and this Plan shall be interpreted and construed accordingly in order to comply with Section 409A. The Company
reserves the right to accelerate, delay or modify distributions to the extent permitted under Section 409A. 
 ARTICLE VI

 AMENDMENTS, TERMINATION AND MERGER 
 6.1 Amendments and Termination. 
 (a) The Board reserves the right to
modify, amend, discontinue or terminate the Plan either retroactively or prospectively at any time; provided, however, that no modification, amendment, discontinuance or termination shall adversely affect the rights of a Participant to
vested amounts credited to his Account before such modification, amendment, discontinuance or termination; provided, further, termination of the Plan shall not be a distribution event under the Plan unless otherwise permitted under
Section 409A or other applicable law. Notwithstanding the foregoing or any provision of this Plan to the contrary, that the Company may, in its sole discretion and without the Director’s consent, modify or amend the terms of the Plan or a
Deferral Agreement, or take any other action it deems necessary or advisable, to cause the Plan to comply with Section 409A (or an exception thereto). Notice of every such modification, amendment, discontinuance or termination shall be given in
writing to each affected Participant. In the case of a termination of the Plan, any vested amounts credited to the Account of a Participant shall be distributed in full in the form of a single lump sum payment as soon as reasonably practicable
following such termination. 
 6.2 Consolidation, Merger or Other Transactions of Company. Nothing in this Plan shall
prevent the consolidation, merger, reorganization or liquidation of the Company, or prevent the sale by the Company of any or all of its property. Any successor corporation or other entity formed and resulting from any such transaction shall have
the right to become a party to this Plan by adopting the same. If, within 180 days from the effective date of such transaction, such new entity does not become a party to this Plan as above provided, this Plan shall be terminated automatically;
provided, however, termination of the Plan shall not be a distribution event under the Plan unless otherwise permitted under Section 409A or other applicable law. 
  

 -7- 

 ARTICLE VII 
 MISCELLANEOUS 
 7.1 Limitations on Liability of Company. None of the
establishment of the Plan, any modification thereof, the creation of any Account, or the payment of any benefits, shall be construed as giving to any Participant, Beneficiary or other person any legal or equitable right against the Company, or any
person connected therewith, except as provided by law or by a specific Plan provision. 
 7.2 Governing Law. The laws of
the State of Delaware shall govern, control and determine a questions arising with respect to the Plan and the interpretation and validity of its respective provisions. 
 7.3 No Guarantee of Service. Participation in the Plan does not give any person any right to continue as a Director of the Company. 
 7.4 Spendthrift Provision. 
 (a) No amount payable under the Plan shall be subject in any manner to anticipation, alienation, attachment, garnishment, sale, transfer, assignment (either at law or in equity), levy, execution, pledge, encumbrance,
charge or any other legal or equitable process, and any attempt to do so shall be void; nor shall any benefit be in any manner liable for or subject to the debts, contracts, liabilities, engagements or torts of the person entitled thereto. The
foregoing shall not preclude any arrangement for the recovery by the Plan of overpayments of benefits previously made to a Participant or Beneficiary, or the direct deposit of benefit payments to an account in a banking institution (if not part of
an arrangement constituting an assignment or alienation). 
 (b) In the event that any Participant’s benefits are
garnished or attached by order of court, the Company may bring an action for a declaratory judgment in a court of competent jurisdiction to determine the proper recipient of the benefits to be paid by the Plan. During the pendency of said action,
any benefits that become payable shall be paid into the court as they become payable, to be distributed by the court to the recipient it deems proper at the close of said action. 
 7.5 Tax Treatment. Nothing contained in this Plan, and no action taken pursuant to its provisions, shall create or be construed to
create any right or expectation of any Participant, Beneficiary or any other person entitled to any benefit under this Plan to any particular tax consequences with respect to any amounts deferred, credited to an Account or paid under this Plan.
Notwithstanding any provision of the Plan to the contrary, in no event shall the Administrator (or any member thereof) or the Company or its affiliates (or the employees, officers or directors of the Company or its affiliates) have any liability
to any Participant (or any other person) due to the failure of the Plan to satisfy the requirements of Section 409A or any other applicable law. 
 7.6 Funding. 
 (a) The obligation of the Company to pay benefits under
this Plan shall be interpreted solely as an unsecured, unfunded, contractual obligation to pay only those amounts described in Article III in the manner, at the times and under the conditions prescribed under the terms of the Plan, and the Company
shall have no obligation to fund, secure or obtain any third-party guarantee of those 

  

 -8- 

 
benefits. If any assets are set aside to provide for benefits payable under the Plan, such assets shall be subject to the claims of the Company’s
general creditors, and no person other than the Company shall, by virtue of the provisions of the Plan or any other agreement, have any interest in such assets. 
 (b) The Company may, in its discretion, make contributions to a trust to be invested and utilized to pay benefits under the Plan. If a
trust (the “Trust”) is created by the Company, the following provisions of this Section 7.6 shall apply. 
 (c)
An amount equal to each Participant’s deferred fees and any Earnings thereon, determined under Article III, may, in the discretion of the Company and subject to the terms of the Trust, be transferred to the Trust to be held pursuant to the
terms thereof. The assets of the Trust shall be subject to the claims of the Company’s creditors and shall be maintained pursuant to a separate trust document (“Trust Agreement”) conforming to the terms of the model trust described in
Revenue Procedure 92-64. 
 (d) Any payment required to be made under this Plan to a Participant or a Beneficiary shall be
paid by the trustee of the Trust (the “Trustee”) to the extent of the assets held in the Trust by the Trustee, and by the Company to the extent the assets in the Trust are insufficient to pay such amount. 
 (e) The Company may direct the Trustee to invest the Trust assets in any investment that it deems appropriate, including common stock of
the Company, subject to the terms of the Trust Agreement. 
 7.7 Account Statements. Periodically, as determined by the
Company in its sole and absolute discretion, each Participant shall receive a statement indicating the amounts credited to and distributed from his Account. 
 IN WITNESS WHEREOF, this Plan amended and restated this 4th day of December, 2007. 
  

									
	ATTEST:	 		 	CONSOL ENERGY INC.
				
	 	 		 	By:	 	 
	Signature of Corporate Secretary	 		 		 	Signature of Authorized Officer
				
		 		 	Its:	 	President and Chief Executive Officer
		 		 		 	Title of Authorized Officer

 . 
  
  

 -9- 

 EXHIBIT 1 
 CONSOL ENERGY INC. 
 DIRECTORS’ DEFERRED FEE PLAN 
 DEFERRAL AGREEMENT 
 Pursuant to the
CONSOL Energy Inc. Directors’ Deferred Fee Plan (the “Plan”), I hereby elect to defer receipt of the fees noted below which, absent this Deferral Agreement, I would become entitled to receive in the future. (Check Only One Box for
Each Section Below:) 
  

	 	A	ANNUAL RETAINER FEE ELECTION (CHOOSE ONLY ONE): 

  

	 	 ̈	I hereby elect to defer [            %]
[$            ] of my annual retainer fees for the Plan Year. The minimum election amount is $10,000 per Plan Year. 

 OR 
  

	 	 ̈	I hereby elect NOT to defer any of my annual retainer fees for the Plan Year. 

  

	 	B	DISTRIBUTION ELECTION: 

 I understand that my
deferral account will be distributed (or commence distribution), subject to the terms of the Plan, following the earlier of: (i) my Separation from Service, or (ii) the date I elect below which must be at least two (2) years after
the end of the Plan Year for which the fees are deferred. 
 (Check a Box Below If You Choose to Specify a Distribution Date and
Select the Date You Want to Elect.) 
 I hereby elect to the following distribution date (CHOOSE ONLY ONE): 
  

	 	 ̈	[            , 20            ]; OR

  

	 	 ̈	[            years after the date of this Deferral Agreement]. 

 I understand that my election is subject to all the terms and conditions of the Plan and that my election hereunder is irrevocable with respect to any
payments due for a Plan Year. Capitalized terms not otherwise defined herein shall have the meaning ascribed thereto under the Plan. 
  

									
	Received and agreed to by CONSOL Energy Inc.:	 		 	DIRECTOR:
					
	By:	 	 	 		 	By:	 	 
					
	Date:	 	 	 		 	Date:	 	 

  

 10 

 NON-COMMUNITY PROPERTY STATES 
 EXHIBIT 2 
 CONSOL ENERGY INC. 
 DIRECTORS’ DEFERRED FEE PLAN 
 BENEFICIARY DESIGNATION FORM 

 Name of Participant:____________________________________________________________________________________ 
 Please complete this form, as indicated below. Unless you indicate otherwise, all benefits will be payable in equal shares if more than one primary or
secondary beneficiary is listed. 
 PRIMARY BENEFICIARIES: I hereby designate the following as my primary beneficiary(ies) to
receive any benefits payable on account of my death under the Plan: 
  

							
	 Full Name
	  	Birthdate	  	Relationship	  	Percent of Distribution

 I understand that if at the time of my death the sum of the percentages payable as indicated above
does not equal 100%, the percentage share of each designated person who survives me will be proportionately adjusted so that the sum of their percentages will equal 100%. 
 SECONDARY BENEFICIARIES: If all the primary beneficiaries designated by me above die before the complete payment of my benefits, or, if not natural persons, no longer legally exist at my death, I hereby
designate the following as my secondary beneficiary(ies) to receive any benefits payable on account of my death under the Plan: 
  

							
	 Full Name
	  	Birthdate	  	Relationship	  	Percent of Distribution

 I understand that if at the time of my death the sum of the percentages payable as indicated above
does not equal 100%, the percentage share of each designated person who survives me will be proportionately adjusted so that the sum of their percentages will equal 100%. 
 VALIDITY 
 I understand that this designation is valid only if it is filed with the
Administrator before my death and that, if this designation is valid under the Plan, all designations that I filed before this one will be REVOKED. This designation will remain in full force and effect unless and until a new Beneficiary Designation
Form is filed with the Administrator in writing and duly dated and signed. 
  

									
					
	Date:	 	 	 		 		 	 
		 		 		 		 	Participant’s Signature

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