Document:

Exhibit

Exhibit  10.02(u)

PARTICIPANT AWARD AGREEMENT
(2018 Incentive PSU Program)
(Executive Officers Only)

[Grant Date], 2018
  
 Dear [Name]: 
  
Pursuant to the terms and conditions of the EQT Corporation 2014 Long-Term Incentive Plan (as amended from time to time, the “Plan”) and the 2018 Incentive Performance Share Unit Program (the “Program”), effective January 1, 2018, the Management Development and Compensation Committee (the “Committee”) of the Board of Directors of EQT Corporation (the “Company”) grants you «NumberUnits» Target Performance Share Units (as may be adjusted below or pursuant to the Program, the “Award”), the value of which is determined by reference to the Company’s common stock.  The terms and conditions of the Award, including, without limitation, vesting and distribution, shall be governed by the provisions of this Participant Award Agreement and the Program document attached hereto as Exhibit A; provided that the Award is also subject to the terms and limits included within the Plan.  

If 2018 Rice Operating Synergies (as defined below) are less than $0.09 per Mcfe or 2018 Rice Development Synergies (as defined below) are less than $0.04 per Mcfe, then the number of Target Performance Share Units referenced above (as adjusted, if at all, as provided in the Program) shall be reduced by 27%.  

		
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	“2018 Rice Operating Synergies” shall mean the amount by which 2018 Operating Efficiency (as defined below) is less than $0.54 per Mcfe.  

		
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	“2018 Operating Efficiency” shall mean Operating Efficiency as defined in the Program document, except that (i) “Calculation Period” shall mean the period commencing January 1, 2018 and ending on December 31, 2018 (“First Year”); provided, however, in the event that a Qualifying Change of Control occurs prior to the filing of the Company’s Form 10-K with the SEC for the year ending December 31, 2018, the Calculation Period shall mean the period consisting of completed quarters in the First Year for which a Form 10-Q has been filed with the SEC and (ii) each of Operation and Maintenance Expense, Production Expense, Production Taxes, and Selling, General and Administrative Expense shall exclude (Y) Rice transition costs and (Z) costs associated with the Company’s analyses of (A) the Company’s “sum-of-the-parts” discount and (B) the structure of the Company’s master limited partnerships, and the implementation of any changes recommended as a result of either of the foregoing.  

		
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	“2018 Rice Development Synergies” shall mean the amount by which 2018 Development Efficiency (as defined below) is less than $0.52 per Mcfe.  “2018 Development Efficiency” shall mean Development Efficiency as defined in the Program document except that “Calculation Period” shall be calculated as defined above in this Participant Award Agreement.  

The Award will be settled in shares of Company common stock; however, the Committee retains the discretion to settle the Award in cash, Company stock or any combination thereof.
 
The terms contained in the Plan and the Program are hereby incorporated into and made a part of this Participant Award Agreement, and this Participant Award Agreement shall be governed by and construed 

1

    

in accordance with the Program and the Plan.  In the event of any actual or alleged conflict between (a) the provisions of the Plan and the provisions of this Participant Award Agreement, the provisions of the Plan shall be controlling and determinative, and (b) the provisions of this Participant Award Agreement and the terms of any written employment-related agreement that you have with the Company (including any confidentiality, non-solicitation, non-competition, change of control or similar agreement), the terms of such employment-related agreement shall be controlling and determinative.  

You may access important information about the Company and the Plan through the Company’s website.  Copies of the Plan and Plan Prospectus can be found by logging into the Fidelity NetBenefits website, which can be found at www.netbenefits.fidelity.com, and clicking on the “Stock Plans” tab and then following the prompts for your Plan documents.  Copies of the Company’s most recent Annual Report on Form 10-K, Proxy Statement and other information generally delivered to the Company’s shareholders can be found at www.eqt.com by clicking on the “Investors” link on the main page and then “SEC Filings.” Paper copies of such documents are available upon request made to the Company’s Corporate Secretary.   

Your Award under the Program will be effective only if, no later than 45 days after the date of this Participant Award Agreement, (a) you accept your Award through the Fidelity NetBenefits website and (b) to the extent you are not already subject to a confidentiality, non-solicitation and non-competition agreement with the Company, you execute a confidentiality, non-solicitation and non-competition agreement acceptable to the Company.
 
When you accept your Award through the Fidelity NetBenefits website, you shall be deemed to have (a) acknowledged receipt of this Award granted on the date of this Participant Award Agreement (the terms of which are subject to the terms and conditions of this Participant Award Agreement, the Program document and the Plan) and copies of this Participant Award Agreement, the Program document and the Plan, and (b) agreed to be bound by all the provisions of this Participant Award Agreement, the Program document and the Plan.

2Exhibit

Exhibit 10.18(a)

CONFIDENTIAL

July 26, 2017

Mr. Jeremiah J. Ashcroft III    
c/o Spencer Stuart

Dear Mr. Ashcroft:

Please accept this letter as a personal invitation to join our team and an official offer of at-will employment as a Senior Vice President and President, Midstream in our Pittsburgh office, reporting to Steven T. Schlotterbeck, President and Chief Executive Officer.  Your election as Senior Vice President and President, Midstream of EQT Corporation and Senior Vice President and Chief Operating Officer of EQT Midstream Services, LLC will take place following your acceptance of this offer.

Please carefully review the following sections of this letter, as they delineate the conditions of our offer.  This offer is contingent upon action by the Boards of Directors of EQT Corporation and EQT Midstream Partners, LP and EQT’s Committees to elect you to the positions identified above and to approve your compensation, as well as the successful completion of a mandatory drug screen, background check and our Director and Officer Questionnaire, and execution and delivery of the Non-Compete Agreement referenced below.  If you have questions about these pre-employment evaluations, please contact Angela Dicenzo at 412.553.5861.
 
Base Salary
Your beginning base salary will be $20,442.31, paid bi-weekly.  This is equivalent to $531,500.00 annually.  Future adjustments in base salary, if any, are generally made by the Management Development and Compensation Committee (“the MDCC”) of the EQT Corporation Board of Directors in conjunction with our annual performance review process.

Car Allowance
You will be provided a car allowance in the amount of $348.46, paid bi-weekly.  This is equivalent to $9,060 annually, and is intended to cover the annual cost of acquiring, maintaining and insuring a car.

Short-Term (or Annual) Incentive Compensation
In addition to your base salary, EQT Corporation (“EQT” or “Company”) offers incentive compensation under the EQT Corporation Executive Short-Term Incentive Plan (“ESTIP”).  

EQT Corporation | EQT Plaza | 625 Liberty Avenue | Suite 1700 | Pittsburgh, PA  15222
T 412.553.5712 | F 412.553.5722 | www. eqt.com

If you begin your employment on or before August 28, 2017, EQT will guarantee your 2017 bonus in the amount of $482,740.  You will be paid in cash at the same time as all other Plan participants, no later than March 15, 2018.  Your ESTIP target for future years will be established by the MDCC.

Long-Term Incentive Plan
You are eligible for a 2017 long-term incentive award consisting of time-based restricted awards valued at $2,150,000, determined on a basis consistent with the Company’s practice.  The awards will be granted on your commencement date or as soon thereafter as is practical.  They will be governed by the EQT Corporation 2014 Long-Term Incentive Plan and the related Program documents and participant award agreements.  The actual number of shares granted will be determined using the closing price of EQT stock on the grant date, rounded up to the next 10 shares.  Your long-term incentive award for future years will be established by the MDCC.

Equity Ownership Guidelines
Consistent with the goal of driving long-term value creation for shareholders, the Company’s equity ownership guidelines require significant equity ownership by our executive officers.  Qualifying holdings include EQT stock, EQT GP Holdings, LP (EQGP) units and EQT Midstream Partners, LP (EQM) units owned directly, EQT shares held in the Company’s 401(k) plan, time-based restricted stock and units, and performance-based awards for which only a service condition remains, but do not include other performance-based awards or options.  Although mandatory, there is no deadline for achieving the ownership guidelines and executives are not required to purchase EQT stock, EQGP units or EQM units.  The net shares or units acquired through incentive compensation plans (through the exercise of options, the vesting of restricted stock or similar) must be retained if an executive has not satisfied his target.  An executive’s failure to meet the equity ownership guidelines may influence an executive’s mix of cash and non-cash compensation.  Executives are not permitted to pledge their EQT equity, or EQGP equity if they are also directors or executive officers of EQGP’s general partner or EQM equity if they are also directors or executive officers of EQM’s general partner.  Executives are not permitted to hedge or otherwise invest in derivatives involving EQT stock, EQGP units or EQM units.

All executive officers, other than the CEO, currently have a three times base salary guideline.

Confidentiality, Non-Solicitation and Non-Competition Agreement
This offer is conditioned upon you executing the enclosed Confidentiality, Non-Solicitation and Non-Competition Agreement (“Non-Compete Agreement”).

Executive Alternative Work Arrangement
You have the option at this time of electing to participate in Executive Alternative Work Arrangement status following your cessation of full-time employment with EQT.  If you desire to participate, you must make an election at this time in conjunction with the execution of your Non-Compete Agreement.  See “Executive Alternative Work Arrangement Employment Agreement” attached as Exhibit A to the Non-Compete Agreement and the election form that immediately precedes Exhibit A to the Non-Compete Agreement.
Work Schedule Options
In order to provide employees with a way to maintain work/life balance, EQT has two work schedule options – a 9/80 work schedule and a traditional 8-hour day/5 days per week option.  Under the 9/80 work schedule, 

during the standard 80-hour pay period employees work eight 9-hour days (Monday through Thursday) and one 8-hour day (Friday), with a tenth day off (alternate Friday).
Initially, you will work the traditional work schedule until you make a selection and discuss it with your supervisor.  Detailed information on these work schedule options, holidays and vacation will be covered in orientation.  You will have 31 days to make your schedule selection.

Employee Benefits
You will have the opportunity to participate in such group medical, dental, life and disability insurance plans, retirement and savings plans and other fringe benefit programs as are available generally to employees of the Company, and as may be amended from time-to-time.

Additional Retirement Benefit
Once 401(k) contributions for executive officers reach the maximum level permitted under the 401(k) plan or by regulation, Company contributions are continued on an after-tax basis under the 2006 Payroll Deduction and Contribution Program through an annuity program offered by Fidelity Investments Life Insurance Co.  Each year, the Company also contributes an amount equal to 11% of each executive officer’s annual incentive award to such program.
Perquisites
See “2017 Executive Officer Perquisites” document attached.
Vacation and Holidays
Your annual vacation entitlement will be 240 hours, which will be prorated for the first year based upon full months worked.  Additionally, EQT presently observes certain paid holidays.
Relocation Benefits
You will be eligible to receive the following Tier IV moving and relocation benefits, provided that you sign the enclosed Relocation Expense Reimbursement Agreement:

		
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	Miscellaneous Allowance in the amount of $10,000.  The Miscellaneous Allowance is not grossed up for tax purposes.

		
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	Please see the attached Moving and Relocation Benefit Summary for additional details on this benefit.

		
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	EQT’s policy provides for up to 90 days of estimated temporary living expenses.  You will be eligible for up to one year of temporary living expenses.

Director and Officer Questionnaire
A copy of our Director and Officer Questionnaire is attached.  Please complete the questionnaire and return the same to me as soon as possible (but no later than Thursday evening), as certain of the information is required to be filed with the United States Securities and Exchange Commission.  Please also provide me with your SEC CIK and password from your time as a Section 16 officer for JP Energy.

Contingency Matters
This offer and your continued employment with EQT are contingent upon the following:

		
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	Action by the Boards of Directors of EQT Corporation and EQT Midstream Partners, LP and EQT’s Committees to elect you to the positions identified above and to approve your compensation;

		
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	In accordance with the Federal Immigration Reform and Control Act of 1986, you are required to provide EQT with verification of your identity and eligibility to work in the United States; and

		
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	Submitting to and successfully completing all pre-employment assessments including a drug screen, background check and our Director and Officer Questionnaire, and execution and delivery of the Non-Compete Agreement.

The benefits and perquisites described above are subject to review and modification by the MDCC or, if applicable to all employees, by EQT from time to time.
We anticipate your tentative starting date to be August 1, 2017.
Please understand that employment with EQT is at-will, which means that either you or the Company can terminate the employment relationship at any time, with or without cause.  This employment-at-will relationship cannot be changed except by a written agreement approved by the MDCC and signed by an authorized officer of the Company.

If you have any questions regarding this offer, please contact me at 412.553.5712.  Should you accept, you must also complete and return the attached Non-Compete Agreement to me via fax at 412.553.5722 or via e-mail in the form of a .pdf to cpetrelli@eqt.com.  

With your acceptance, you confirm that you are not currently bound by or subject to any confidentiality or non-competition agreement with a previous employer that you have not previously disclosed to us and, if in writing, provided a copy to us. 

EQT's onboarding process is administered through an online application called Taleo Onboard.  Once we receive your signed offer letter, you will receive an e-mail from Taleo Onboard with details to set up your username and password.  Please log-on to Taleo Onboard immediately to complete your profile, post-offer employment questionnaire and background check release forms.  Until these forms have been completed, we cannot initiate your mandatory pre-employment assessments.  If you experience any problems using Taleo Onboard, please send an email to onboarding@eqt.com or contact Angela Dicenzo at 412.553.5861.   

This offer expires seven days from the date of this letter.

Confidentiality
This letter is confidential, and its contents are intended solely for review by you and your counsel.  You should not disclose, and you will advise your counsel not to disclose, this letter’s contents or the fact of its existence to any third party without our prior written consent.  You understand that action by the boards of EQT and EQM to elect you as an officer of the respective organizations may require a public announcement 

by the Company.  Except as may be required by law or stock exchange rule, the disclosure of this offer and your acceptance, if any, to any third party other than your counsel and our representatives subject to an appropriate confidentiality obligation, will be mutually agreed upon and coordinated.
Please return one copy of this letter with your signature indicating your acceptance or rejection of this offer, and the terms and conditions contained herein, to me.  If you have any questions, please contact me directly.
 
Sincerely,

/s/ Charlene Petrelli

Charlene Petrelli
Vice President and Chief Human Resources Officer

I Accept / Reject (circle) the Company’s offer of employment and the terms and conditions set forth herein:

/s/ Jeremiah J. Ashcroft III                                7/26/17

Jeremiah J. Ashcroft III        Date

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