Document:

EX-4.1

 Exhibit 4.1 

[Form of Note] 
 (FACE
OF NOTE) 
 THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY
OR A NOMINEE OF A DEPOSITORY. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM IN ACCORDANCE WITH THE PROVISIONS OF THE INDENTURE AND THE TERMS OF THE SECURITIES, THIS GLOBAL SECURITY MAY NOT BE TRANSFERRED
EXCEPT AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY OR BY THE DEPOSITORY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITORY OR A NOMINEE OF SUCH
SUCCESSOR DEPOSITORY. 
 AT&T INC. 

4.000% Global Notes due 2049 

ISIN NO. [●] 
 No. I-[●] 
 $2,995,000,000 

AT&T Inc., a corporation duly organized and existing under the laws of the State of Delaware (herein called “AT&T”, which
term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to The Bank of New York Depository (Nominee) Limited (the “Depository”), or registered assigns, the principal sum
of Two Billion Nine Hundred Ninety Five Million Dollars ($2,995,000,000) on June 1, 2049 (the “Maturity Date”), and to pay interest on said principal sum from February 27, 2020 or from the most recent Interest Payment Date to
which interest has been paid or duly provided for, semiannually in arrears on June 1 and December 1 in each year, commencing on June 1, 2020 (each an “Interest Payment Date”) and on the Maturity Date, at the interest rate of
4.000% per annum, until the principal hereof is paid or made available for payment. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose
name this Note (or one or more Predecessor Notes) is registered at the close of business on the Regular Record Date for such interest, which shall be the close of business on the fifteenth day preceding the respective Interest Payment Date (each, a
“Regular Record Date”). Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Note (or one or more
Predecessor Notes) is registered at the close of business on a special record date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Notes not less than 15 days prior to such special
record date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, all as more fully provided
in said Indenture. 

 Any money that AT&T deposits with the Trustee or any Paying Agent for the payment of
principal or any interest on this Note that remains unclaimed for two years after the date upon which the principal and interest are due and payable, will be repaid to AT&T upon AT&T’s request unless otherwise required by mandatory
provisions of any applicable unclaimed property law. After that time, unless otherwise required by mandatory provisions of any unclaimed property law, the Holder of this Note will be able to seek any payment to which such Holder may be entitled to
collect only from AT&T. 
 If the Notes are issued in definitive form, payment of the principal and interest on this Note due at the
Maturity Date or upon redemption will be made at the Maturity Date or upon redemption, as the case may be, upon presentation of this Note, in immediately available funds, at the office of The Bank of New York Mellon, London Branch, the Paying Agent
for the Notes, currently located at One Canada Square, London E14 5AL. The Transfer Agent and Registrar for the Notes is The Bank of New York Mellon Trust Company, N.A., currently located at 601 Travis Street, 16th Floor, Houston, Texas 77002. 
 Payment of interest on this Note due on an Interest
Payment Date, other than interest at maturity or upon redemption, may be paid by check mailed to the address of the Holder entitled thereto as such address shall appear in the Note register. Notwithstanding the foregoing, (1) the Depository as
Holder of the Notes or (2) a Holder of more than U.S.$5,000,000 in aggregate principal amount of Notes in definitive form is entitled to require the Paying Agent to make payments of interest, other than interest due at maturity or upon
redemption, by wire transfer of immediately available funds into an account maintained by the Holder, by sending appropriate wire transfer instructions as long as the Paying Agent receives the instructions not less than ten days prior to the
applicable Interest Payment Date. The principal and interest payable in U.S. dollars on any of the Notes at maturity, or upon redemption will be paid by wire transfer of immediately available funds against presentation of a Note at the office of the
Paying Agent. 
 Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which further
provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon
has been executed by the Trustee referred to on the reverse hereof by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
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 IN WITNESS WHEREOF, AT&T INC. has caused this instrument to be signed in its corporate
name, manually or by facsimile, by its duly authorized officers and has caused its corporate seal to be imprinted hereon. 
  

							
	Dated: February 27, 2020	 		 	AT&T INC.
				
	[SEAL]	 		 		 	
				
		 		 	By:	 	
                     

		 		 		 	 George B. Goeke
 Senior Vice President and
Treasurer

				
		 		 	By:	 	
                     

		 		 		 	 Jeston B. Dumas
 Vice President and Assistant
Treasurer

 Trustee’s Certificate of Authentication 

This is one of the 4.000% Global Notes due 2049 
 of the series
designated herein referred to 
 in the within-mentioned Indenture. 

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., 
 as Trustee

  

							
	By:	 	  
	 		 	Dated: February 27, 2020
		 	Authorized Signatory	 		 	

 REVERSE OF NOTE 

This Note is one of a duly authorized issue of debt securities of AT&T of the series specified on the face hereof, issued under and
pursuant to an Indenture, dated as of May 15, 2013, between AT&T and The Bank of New York Mellon Trust Company, N.A., as Trustee (the “Trustee,” which term includes any successor Trustee under the Indenture), to which indenture
and all indentures supplemental thereto (collectively, the “Indenture”) reference is hereby made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, AT&T and the Holders
of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered. The Notes will be issued in fully registered form only and in minimum denominations of $100,000 and integral multiples of $1,000 thereafter. This
Note is one of the series designated on the face hereof initially limited in aggregate principal amount to $2,995,000,000. 
 The Indenture
permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of AT&T and the rights of the Holders of the Notes under the Indenture at any time by AT&T and the Trustee with
the consent of the Holders of a majority in principal amount of the Notes at the time outstanding. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Notes at the time outstanding to
waive compliance by AT&T with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and
upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note. 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of AT&T, which
is absolute and unconditional, to pay the principal of and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed. 

Principal and interest payments in respect of the Notes are payable by AT&T in U.S. dollars. Interest will be computed on the basis of the
number of days in the period for which interest is being calculated and the actual number of days from and including the last date on which interest was paid on the Notes (or February 27, 2020 if no interest has been paid on the Notes), to but
excluding the next scheduled interest payment date (such number of days being calculated on the basis of a year of 360 days with 12 30-day months). This payment convention is referred to as 30/360. 

Payment of Additional Amounts 

AT&T will, subject to the exceptions and limitations set forth below, pay as additional interest on this Note such additional amounts
(“Additional Amounts”) as are necessary so that the net payment by AT&T or its Paying Agent of the principal of and interest on this Note to a person that is a 

 
United States Alien, after deduction for any present or future tax, assessment or governmental charge of the United States or a political subdivision or taxing authority thereof or therein,
imposed by withholding with respect to the payment, will not be less than the amount that would have been payable in respect of this Note had no withholding or deduction been required. As used herein, “United States Alien” means any person
who, for United States federal income tax purposes, is a foreign corporation, a non-resident alien individual, a non-resident alien fiduciary of a foreign estate or
trust, or a foreign partnership one or more of the members of which is, for United States federal income tax purposes, a foreign corporation, a non-resident alien individual or a
non-resident alien fiduciary of a foreign estate or trust. 
 The foregoing obligation to pay
Additional Amounts shall not apply: 
 (1) to any tax, assessment or governmental charge that is imposed or withheld solely
because the beneficial owner, or a fiduciary, settlor, beneficiary or member of the beneficial owner if the beneficial owner is an estate, trust or partnership, or a person holding a power over an estate or trust administered by a fiduciary holder:

 (a) is or was present or engaged in a trade or business in the United States, has or had a permanent establishment in the
United States, or has any other present or former connection with the United States or any political subdivision or taxing authority thereof or therein; 

(b) is or was a citizen or resident or is or was treated as a resident of the United States; 

(c) is or was a foreign or domestic personal holding company, a passive foreign investment company or a controlled foreign
corporation with respect to the United States or is or was a corporation that has accumulated earnings to avoid United States federal income tax; 

(d) is or was a bank receiving interest described in Section 881(c)(3)(A) of the Internal Revenue Code of 1986, as amended
(the “Code”); or 
 (e) is or was an actual or constructive owner of 10% or more of the total combined voting power
of all classes of stock of AT&T entitled to vote; 
 (2) to any Holder that is not the sole beneficial owner of the
Notes, or a portion thereof, or that is a fiduciary or partnership, but only to the extent that the beneficial owner, a beneficiary or settlor with respect to the fiduciary, or a member of the partnership would not have been entitled to the payment
of an additional amount had such beneficial owner, beneficiary, settlor or member received directly its beneficial or distributive share of the payment; 

  
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 (3) to any tax, assessment or governmental charge that is imposed or
withheld solely because the beneficial owner or any other person failed to comply with certification, identification or information reporting requirements concerning the nationality, residence, identity or connection with the United States of the
Holder or beneficial owner of the Notes, if compliance is required by statute, by regulation of the United States Treasury Department or by an applicable income tax treaty to which the United States is a party as a precondition to exemption from
such tax, assessment or other governmental charge; 
 (4) to any tax, assessment or governmental charge that is imposed other
than by deduction or withholding by AT&T or a Paying Agent from the payment; 
 (5) to any tax, assessment or
governmental charge that is imposed or withheld solely because of a change in law, regulation, or administrative or judicial interpretation that is announced or becomes effective after the day on which the payment becomes due or is duly provided
for, whichever occurs later; 
 (6) to an estate, inheritance, gift, sales, excise, transfer, wealth or personal property tax
or any similar tax, assessment or governmental charge; 
 (7) to any tax, assessment or other governmental charge any paying
agent (which term may include us) must withhold from any payment of principal of or interest on any Note, if such payment can be made without such withholding by any other paying agent; or 

(8) in the case of any combination of the above items. 

In addition, any amounts to be paid on this Note will be paid net of any deduction or withholding imposed or required pursuant to Sections
1471 through 1474 of the Code, any current or future regulations or official interpretations thereof, any agreement entered into pursuant to Section 1471(b) of the Code, or any fiscal or regulatory legislation, rules or practices adopted
pursuant to any intergovernmental agreement entered into in connection with the implementation of such Sections of the Code, and no additional amounts will be required to be paid on account of any such deduction or withholding. 

The Notes are subject in all cases to any tax, fiscal or other law or regulation or administrative or judicial interpretation applicable.
Except as specifically provided under this section entitled “Payment of Additional Amounts” and under the heading “Redemption Upon a Tax Event”, AT&T shall not have to make any payment with respect to any tax, assessment or
governmental charge imposed by any government or a political subdivision or taxing authority. 
 Any reference in the terms of the Notes to
any amounts in respect of the Notes shall be deemed also to refer to any Additional Amounts which may be payable under this provision. 

  
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 Optional Redemption by AT&T 

AT&T has the option to redeem all, but not less than all, of the Notes then outstanding on each June 1 on or after June 1, 2025
(each, a “Redemption Date”). In addition, on the first Redemption Date on which we opt to redeem Notes, we also have the option to instead only redeem 50% of the aggregate principal amount of the Notes then outstanding. If we opt to redeem
50% of the aggregate principal amount of the Notes then outstanding on a Redemption Date, any remaining Notes can be redeemed at our option on a future Redemption Date in whole but not in part. Any redemption described in this paragraph must be on
not less than 10 nor more than 40 days’ notice and will be at a redemption price equal to 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest to the date of redemption. AT&T will calculate the
redemption price in connection with any redemption hereunder. 
 On and after the redemption date, interest will cease to accrue on the
Notes redeemed, unless AT&T defaults in the payment of the redemption price and accrued interest. On or before the redemption date, AT&T will deposit with a Paying Agent or the Trustee money sufficient to pay the redemption price of and
accrued interest on the Notes to be redeemed on that date. 
 Redemption Upon a Tax Event 

If (a) AT&T becomes or will become obligated to pay Additional Amounts as a result of any change in, or amendment to, the laws (or any
regulations or rulings promulgated thereunder) of the United States (or any political subdivision or taxing authority thereof or therein), or any change in, or amendments to, any official position regarding the application or interpretation of such
laws, regulations or rulings, which change or amendment is announced or becomes effective, on or after February 13, 2020 or (b) a taxing authority of the United States takes an action on or after February 13, 2020, whether or not with
respect to AT&T or any of its affiliates, that results in a substantial probability that AT&T will or may be required to pay such Additional Amounts, then AT&T may, at its option, redeem, as a whole, but not in part, the Notes on any
Interest Payment Date on not less than 10 nor more than 40 calendar days’ prior notice, at a redemption price equal to 100% of their principal amount, together with interest accrued thereon to the date fixed for redemption. No redemption
pursuant to (b) above may be made unless AT&T shall have received an opinion of independent counsel to the effect that an act taken by a taxing authority of the United States results in a substantial probability that AT&T will or may be
required to pay the Additional Amounts and AT&T shall have delivered to the Trustee a certificate, signed by a duly authorized officer, stating that based on such opinion, AT&T is entitled to redeem the Notes pursuant to their terms. 

Registrar and Paying Agent 

The Paying Agent for the Notes is The Bank of New York Mellon, London Branch currently located at One Canada Square, London E14 5AL
(“Paying Agent”). In addition, AT&T shall maintain in the Borough of Manhattan, The City of New York, an office or agency where Notes may be surrendered for registration of transfer or exchange (“Registrar”). AT&T has
initially appointed an affiliate of the Trustee, The Bank of New York 

  
 4 

 
Mellon, London Branch, as its Paying Agent. AT&T may vary or terminate the appointment of any of its paying or transfer agencies, and may appoint additional paying or transfer agencies. 

Further Issues 
 AT&T
reserves the right from time to time, without notice to or the consent of the Holders of the Notes, to create and issue further notes ranking equally and ratably with the Notes in all respects, or in all respects except for the payment of interest
accruing prior to the issue date or except for the first payment of interest following the issue date of those further notes. Any further Notes will have the same terms as to status, redemption or otherwise as, and, to the extent permitted by
applicable authorities in the Republic of China and subject to the receipt of all necessary regulatory and listing approvals from such authorities, including but not limited to the Taipei Exchange and the Taiwan Securities Association, will be
fungible for United States federal income tax purposes with, the Notes. Any further Notes shall be issued pursuant to a resolution of the board of directors of AT&T, a supplement to the Indenture, or under an officers’ certificate pursuant
to the Indenture. 
 Notes in Definitive Form 

If (1) an Event of Default has occurred with regard to the Notes represented by this Note and has not been cured or waived in accordance
with the Indenture, or (2) the Depository is at any time unwilling or unable to continue as depository and a successor depository is not appointed by AT&T within 90 days, AT&T may issue notes in definitive form in exchange for this
Note. In either instance, an owner of a beneficial interest in the Notes will be entitled to the physical delivery in definitive form in exchange for this Note, equal in principal amount to such beneficial interest and to have such Notes registered
in its name. 
 Notes so issued in definitive form will be issued as registered notes in minimum denominations of $100,000 and integral
multiples of $1,000, unless otherwise specified by AT&T. 
 Notes so issued in definitive form may be transferred by presentation for
registration to the Registrar at its New York office and must be duly endorsed by the Holder or the Holder’s attorney duly authorized in writing, or accompanied by a written instrument or instruments of transfer in form satisfactory to AT&T
or the Trustee duly executed by the Holder or his attorney duly authorized in writing. 
 AT&T may require payment of a sum sufficient
to cover any tax or other governmental charge that may be imposed in connection with any exchange or registration of transfer of definitive Notes. 

  
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 Default 

In case an Event of Default, as defined in the Indenture, shall have occurred and be continuing, the principal hereof may be declared, and upon
such declaration shall become, due and payable, in the manner, with the effect and subject to the conditions provided in the Indenture. 

Miscellaneous 
 For
purposes of the Notes, the term “Business Day” means any day other than a Saturday or Sunday or a day on which banking institutions in the City of New York or the City of Taipei are authorized or required by law or executive order to
close. 
 No director, officer, employee or stockholder, as such, of AT&T shall have any liability for any obligations of AT&T under
this Note, the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. Each Holder by accepting this Note waives and releases all such liability. The waiver and release are part of the consideration for
the issue of this Note. 
 The Notes are the unsecured and unsubordinated obligations of AT&T and will rank pari passu
with all other evidences of indebtedness issued in accordance with the Indenture. 
 Notices to Holders of the Notes will be given only to
the depository, in accordance with its applicable policies as in effect from time to time. 
 Prior to due presentment of this Note for
registration of transfer, AT&T, the Trustee and any agent of AT&T or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither AT&T, the
Trustee nor any such agent shall be affected by notice to the contrary. 
 All terms used in this Note which are defined in the Indenture
shall have the meanings assigned to them in the Indenture.  
 The Indenture and this Note shall be governed by and construed in
accordance with the laws of the State of New York. 

  
 6Exhibit 10.2

 

Execution Version

 

SHARE PURCHASE AGREEMENT

 

This SHARE PURCHASE
AGREEMENT (this “Agreement”) is made as of February 26, 2020, by and between EQT Corporation, a Pennsylvania
corporation (“Seller”), and Equitrans Midstream Corporation, a Pennsylvania corporation (the “Company”).
Seller and the Company are referred to herein collectively as the “Parties” and each, individually, as
a “Party.”

 

WHEREAS, as
of the date hereof, Seller is the record and beneficial owner (as defined in Rule 13d-3 under the Securities Exchange Act of 1934,
as amended (the “Exchange Act”)) of 50,599,503 shares of common stock, no par value, of the Company (the
 “Common Stock”);

 

WHEREAS, Seller
desires to sell to the Company, and the Company desires to repurchase from Seller, 20,530,256 shares of Common Stock (the “Subject
Shares”) on the terms and subject to the conditions set forth in this Agreement;

 

WHEREAS, contemporaneously
with the execution of this Agreement, Seller and EQM Midstream Partners, LP, a Delaware limited partnership (“EQM”),
and/or one or more of their respective Affiliates (as defined below) will enter into that certain Gas Gathering and Compression
Agreement, dated as of the date hereof, pursuant to which, among other things, Seller shall dedicate certain hydrocarbon production
from properties located in West Virginia and Pennsylvania for gathering by EQM and/or one or more of its Affiliates and shall be
provided with certain commercial terms, including potential reservation rates (the “GGA”);

 

WHEREAS, contemporaneously
with the execution of this Agreement, Seller and EQM and/or one or more of their respective Affiliates will enter into that certain
letter agreement, dated as of the date hereof, pursuant to which, among other things, the parties thereto shall set forth certain
agreements relating to the in-service date of the Mountain Valley Pipeline and the reservation rates related thereto (the “Fee
Letter Agreement”);

 

WHEREAS, the
Company has received the TMA Signing Opinion (as defined below) on or prior to the date hereof; and

 

WHEREAS, in
exchange for the Subject Shares, the Company desires to issue a promissory note, in the form attached hereto as Exhibit A,
representing $195,820,075.29 in aggregate principal amount (the “Share Purchase Price”), which is based
on a 20-day volume-weighted average of $9.54 per Subject Share (the “Price per Share”), in favor of Seller
(or its assignee) (the “Note”) at the Closing (as defined below), which Seller immediately will transfer,
convey and assign to EQM in consideration of certain commercial terms, including potential reservation rates, contemplated in the
GGA and the Fee Letter Agreement. The Company shall additionally pay to Seller cash in the amount of $6,830,932.95 (the “Cash
Amount” and, together with the Share Purchase Price, the “Purchase Price”). The Cash Amount
shall be payable at the Closing in accordance with Section 2.2 hereof.

 

NOW, THEREFORE,
in consideration of the foregoing and the respective representations, warranties, covenants and agreements set forth herein, and
for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending
to be legally bound, do hereby agree as follows:

 

    1

     

    

 

Article
I.

Purchase and Sale

 

1.1               Purchase and Sale. On the terms and subject to the conditions set forth in this Agreement, at the Closing, Seller
shall sell, transfer, convey, assign and deliver to the Company (or its designee), and the Company (or its designee) shall purchase,
accept and assume from Seller, all of Seller’s right, title and interest to the Subject Shares, and the Company shall (a)
issue the Note in favor of Seller (or its assignee) in an aggregate principal amount equal to the Share Purchase Price and (b)
pay the Cash Amount to Seller in cash.

 

1.2               Assignment
of Note; Appointment of Proxy.

 

(a)              
At the Closing, Seller shall assign all of Seller’s right, title and interest to the Note by execution of an assignment
agreement, in the form attached hereto as Exhibit B (the “Note Assignment”), to EQM in consideration
of certain commercial terms, including potential reservation rates, contemplated in the GGA.

 

(b)              
Simultaneous with the execution of this Agreement, Seller hereby irrevocably appoints and constitutes the Company (or its
designee) as the sole and exclusive proxy and attorney-in-fact of Seller with respect to the Note Assignment (the “Proxy”).
The foregoing Proxy shall include the right of the Company to sign, as holder of the irrevocable Proxy on behalf of Seller, the
Note Assignment or other documents relating to Seller that may be required to cause Seller to execute the Note Assignment at the
Closing. The proxy granted hereby shall be irrevocable and is coupled with an interest sufficient in Law (as defined below) to
support an irrevocable proxy (including, without limitation, such irrevocable proxy granted hereunder) and shall not be terminated
by any act of the Parties hereto, by lack of appropriate power or authority or by the occurrence of any other event or events (including,
without limitation, any bankruptcy, insolvency or dissolution of Seller).

 

Article
II.

Closing

 

2.1             
Closing. The closing (the “Closing”) of the transactions contemplated by this Agreement
shall take place at the offices of Latham & Watkins LLP, 811 Main St., Suite 3700, Houston, Texas 77002, at 2:00 p.m., local
time, on the twenty-first (21st) calendar day following the date hereof, or such other time and place as both Parties
may agree in writing, provided that the Closing shall not occur prior to the fulfillment or waiver (in accordance with the provisions
hereof) of all of the conditions set forth in Article VI hereof (other than those conditions that by their nature are to
be fulfilled at or upon the Closing, but subject to the fulfillment or waiver of such conditions). The date on which the Closing
occurs is hereinafter referred to as the “Closing Date.”

 

2.2             
Deliveries at the Closing. At the Closing, (a) Seller will deliver to the Company a fully executed stock
power, in the form attached hereto as Exhibit C, representing the Subject Shares and deliver to EQM a fully executed Note
Assignment, and (b) the Company will deliver to Seller a fully executed Note and the Cash Amount by wire transfer of immediately
available funds to the account designated in writing by Seller at least two (2) Business Days (as defined below) prior to the Closing
Date.

 

    2

     

    

 

Article
III.

Representations and Warranties of SelleR

 

Seller hereby represents
and warrants to the Company, as of the date hereof and as of the Closing Date, as follows:

 

3.1             
Organization. Seller is a corporation duly incorporated, validly existing and in good standing under the laws
of its jurisdiction of organization and has all requisite corporate power and authority to own, operate and lease its properties
and assets and to carry on its business as now conducted.

 

3.2             
Authority and Approval. Seller has full corporate power and authority to execute and deliver this Agreement,
to consummate the transactions contemplated hereby and to perform all of the obligations hereof to be performed by it. This Agreement
has been duly executed and delivered by Seller and, assuming due authorization, execution and delivery of this Agreement by the
Company, constitutes the valid and legally binding obligation of Seller, enforceable against it in accordance with its terms, except
as such enforcement may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or other
similar Laws (as defined below) affecting the enforcement of creditors’ rights and remedies generally and by general principles
of equity (whether applied in a proceeding at Law or in equity).

 

3.3             
No Conflicts. The execution, delivery and performance of this Agreement by Seller does not, and the fulfillment
and compliance with the terms and conditions hereof and the consummation of the transactions contemplated hereby will not, (a)
violate, conflict with, result in any breach of or require the consent of any Person (as defined below) under, any of the terms,
conditions or provisions of the Restated Articles of Incorporation or Amended and Restated Bylaws of Seller, each as amended through
November 13, 2017; (b) conflict with or violate any Law applicable to Seller; or (c) conflict with, result in a breach of,
constitute a default under (whether with notice or the lapse of time or both), result in the creation of any Encumbrance (as defined
below) on any of Seller’s assets under, or accelerate or permit the acceleration of the performance required by, or require
any consent, authorization or approval under, or result in the suspension, termination or cancellation of, or in a right of suspension,
termination or cancellation of, any indenture, mortgage, agreement, contract, commitment, license, concession, permit, lease, joint
venture or other instrument to which Seller is a party or by which it is bound; except in the case of clauses (b) and (c),
for those items which, individually or in the aggregate, would not reasonably be expected to have a material adverse effect on
Seller’s ability to perform its obligations under this Agreement.

 

3.4              Ownership
of the Subject Shares. Seller is the record and beneficial owner (as defined in Rule 13d-3 under the Exchange Act) of
all the Subject Shares and has good and marketable title to all the Subject Shares free and clear of any encumbrances, liens,
charges, levies, proxies, voting trusts or agreements, options or rights, understandings or arrangements inconsistent with
this Agreement or the transactions contemplated hereby, or any other encumbrances or restrictions whatsoever on title,
transfer or exercise of any rights of a shareholder in respect of the Subject Shares (collectively,
 “Encumbrances”), except for any such Encumbrance that may be imposed pursuant to (x) this
Agreement, (y) the Shareholder and Registration Rights Agreement, dated as of November 12, 2018, by and between Seller and
the Company or (z) any applicable restrictions on transfer under the Securities Act of 1933, as amended, or any state
securities Law. Upon the Closing, the Company (or its designee) will own the Subject Shares, free and clear of all
Encumbrances.

 

    3

     

    

 

3.5             
Dispositive Power. Seller has sole power of disposition and sole power to issue instructions with respect to
the matters set forth in Section 1.1, and sole power to agree to all of the matters set forth in this Agreement, in each
case with respect to all the Subject Shares.

 

3.6             
No Consents. No consent, approval, permit, governmental or regulatory order, declaration or filing with, or notice
to, any Governmental Authority (as defined below) or any third party is required to be made or obtained by Seller in connection
with the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby, except as has been
made or obtained on or prior to the date hereof.

 

3.7             
No Litigation. There are no actions, suits, claims, investigations or other legal proceedings pending or, to
the knowledge of Seller, threatened against or by Seller that challenge or seek to prevent, enjoin or could otherwise potentially
delay the transactions contemplated by this Agreement.

 

3.8             
Informed Seller.

 

(a)              
Seller has (i) such knowledge and experience in financial and business matters as to be capable of evaluating the merits,
risks and suitability of the transactions contemplated by this Agreement and (ii) evaluated the merits and risks of the transactions
contemplated by this Agreement based exclusively on its own independent review and consultations with such investment, legal, Tax
(as defined below), accounting and other advisors as it deemed necessary, and has made its own decision concerning the transactions
contemplated by this Agreement without reliance on any representation or warranty of, or advice from, the Company. Upon the Closing,
Seller will be consummating the transactions contemplated by this Agreement with full understanding of the terms, conditions and
risks and willingly assumes those terms, conditions and risks.

 

(b)              
Seller has received and carefully reviewed the Company’s Annual Report on Form 10-K for the fiscal year ended December
31, 2018 and subsequent public filings of the Company with the U.S. Securities and Exchange Commission (the “SEC”),
other publicly available information regarding the Company, and such other information that it and its financial, legal and other
advisors deem necessary in connection with Seller’s decision to enter into this Agreement and, upon the Closing, consummate
the transactions contemplated by this Agreement. Seller has not requested any advice or other information with respect to the Subject
Shares from the Company, its Affiliates or any of its or their respective Representatives (as defined below), and no such information
or advice is necessary or desired.

 

    4

     

    

 

Article
IV.

Representations and Warranties of the COMPANY

 

The Company hereby
represents and warrants to Seller, as of the date hereof and as of the Closing Date, as follows:

 

4.1             
Organization. The Company is a corporation duly incorporated, validly existing and in good standing under the
laws of its jurisdiction of organization and has all requisite corporate power and authority to own, operate and lease its properties
and assets and to carry on its business as now conducted.

 

4.2             
Authority and Approval. The Company has full corporate power and authority to execute and deliver this Agreement,
to consummate the transactions contemplated hereby and to perform all of the obligations hereof to be performed by it. This Agreement
has been duly executed and delivered by the Company and, assuming due authorization, execution and delivery of this Agreement by
Seller, constitutes the valid and legally binding obligation of the Company, enforceable against it in accordance with its terms,
except as such enforcement may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance
or other similar Laws affecting the enforcement of creditors’ rights and remedies generally and by general principles of
equity (whether applied in a proceeding at Law or in equity).

 

4.3             
No Conflicts.

 

(a)              
The execution and delivery of this Agreement by the Company do not (a) violate, conflict with, result in any breach of or
require the consent of any Person under, any of the terms, conditions or provisions of the governing agreements of the Company;
(b) conflict with or violate any Law applicable to the Company; or (c) conflict with, result in a breach of, constitute a default
under (whether with notice or the lapse of time or both), result in the creation of any Encumbrance on any of the Company’s
assets under, or accelerate or permit the acceleration of the performance required by, or require any consent, authorization or
approval under, or result in the suspension, termination or cancellation of, or in a right of suspension, termination or cancellation
of, any indenture, mortgage, agreement, contract, commitment, license, concession, permit, lease, joint venture or other instrument
to which the Company is a party or by which it is bound; except in the case of clauses (b) and (c) for those items which,
individually or in the aggregate, would not reasonably be expected to have a material adverse effect on the Company’s ability
to perform its obligations under this Agreement.

 

(b)              
As of the Closing Date, the performance of this Agreement by the Company will not, and the fulfillment and compliance with
the terms and conditions hereof and the consummation of the transactions contemplated hereby will not, (a) violate, conflict with,
result in any breach of or require the consent of any Person under, any of the terms, conditions or provisions of the governing
agreements of the Company; (b) conflict with or violate any Law applicable to the Company; or (c)  conflict with, result in
a breach of, constitute a default under (whether with notice or the lapse of time or both), result in the creation of any Encumbrance
on any of the Company’s assets under, or accelerate or permit the acceleration of the performance required by, or require
any consent, authorization or approval under, or result in the suspension, termination or cancellation of, or in a right of suspension,
termination or cancellation of, any indenture, mortgage, agreement, contract, commitment, license, concession, permit, lease, joint
venture or other instrument to which the Company is a party or by which it is bound; except in the case of clauses (b) and
(c) for those items which, individually or in the aggregate, would not reasonably be expected to have a material adverse effect
on the Company’s ability to perform its obligations under this Agreement.

 

    5

     

    

 

4.4             
No Consents.

 

(a)              
No consent, approval, permit, governmental or regulatory order, declaration or filing with, or notice to, any Governmental
Authority or any third party is required to be made or obtained by the Company in connection with the execution and delivery of
this Agreement, except as has been made or obtained on or prior to the date hereof.

 

(b)              
No consent, approval, permit, governmental or regulatory order, declaration or filing with, or notice to, any Governmental
Authority or any third party is required to be made or obtained by the Company in connection with the consummation of the transactions
contemplated hereby, except as will have been made or obtained on or prior to the Closing Date.

 

4.5             
No Litigation. There are no actions, suits, claims, investigations or other legal proceedings pending or, to
the knowledge of the Company, threatened against or by the Company that challenge or seek to prevent, enjoin or could otherwise
potentially delay the transactions contemplated by this Agreement.

 

4.6             
Informed Purchaser.

 

(a)              
The Company has (a) such knowledge and experience in financial and business matters as to be capable of evaluating the merits,
risks and suitability of the transactions contemplated by this Agreement and (b) evaluated the merits and risks of the transactions
contemplated by this Agreement based exclusively on its own independent review and consultations with such investment, legal, Tax,
accounting and other advisors as it deemed necessary, and has made its own decision concerning the transactions contemplated by
this Agreement without reliance on any representation or warranty of, or advice from, Seller. Upon the Closing, the Company will
be consummating the transactions contemplated by this Agreement with full understanding of the terms, conditions and risks and
willingly assumes those terms, conditions and risks.

 

(b)              
The Company has not requested any advice or other information with respect to the Subject Shares from Seller, its Affiliates,
or any of its or their respective Representatives, and no such information or advice is necessary or desired.

 

Article
V.

Covenants

 

5.1             
No Inconsistent Arrangements. Except as provided hereunder, neither Party shall, directly or indirectly, take
or permit any other action that would in any way restrict, limit or interfere with the performance of such Party’s obligations
hereunder or otherwise make any representation or warranty of such Party herein untrue or incorrect (including, for the avoidance
of doubt, any transfer, sale, assignment, gift, hedge, or other disposition, directly or indirectly, of the Subject Shares). Any
action taken in violation of the foregoing sentence shall be null and void ab initio.

 

5.2             
Documentation and Information. Neither Party shall make any public announcement regarding this Agreement and
the transactions contemplated hereby without the prior written consent of the other Party (such consent not to be unreasonably
withheld, conditioned or delayed), except as may be required by applicable Law (provided that reasonable notice of any such disclosure
will be provided to such other Party). Each Party consents to and hereby authorizes such other Party and its Affiliates to publish
and disclose in all documents and schedules filed with the SEC or any other Governmental Authority or applicable securities exchange,
and any press release or other disclosure document, each Party’s identity and the ownership of the Subject Shares, the existence
of this Agreement and the nature of each Party’s commitments and obligations under this Agreement, and each Party acknowledges
that such other Party and its Affiliates may, in their sole discretion, file this Agreement or a form hereof with the SEC or any
other Governmental Authority or applicable securities exchange.

 

    6

     

    

 

5.3             
Litigation. Each Party shall provide such other Party with prompt notice of any claim, action, suit, litigation
or proceeding (including any class action or derivative litigation) brought, asserted or commenced by, on behalf of or in the name
of, against or otherwise involving either Party relating to this Agreement or any of the transactions contemplated hereby, and
shall keep such other Party informed on a reasonably prompt basis with respect to the status thereof. Each Party shall give such
other Party the opportunity to participate (at such other Party’s expense) in the defense or settlement of any such litigation,
and no such settlement shall be agreed to without such other Party’s prior written consent.

 

5.4             
Tax Matters Opinion. The Company and Seller shall, and shall cause their respective
Affiliates to, use their respective reasonable best efforts to obtain the TMA Closing Opinion (as defined below) and the Kirkland
Opinion (as defined below), including by (a) providing any information reasonably requested by Tax Counsel (as defined below) or
Kirkland & Ellis (as defined below) and (b) delivering to Tax Counsel and Kirkland & Ellis representation letters dated
as of the Closing Date in form and substance substantially similar to the representation letters delivered by the Company and Seller
to Tax Counsel and Kirkland & Ellis in connection with the TMA Signing Opinion, with such modifications in form and substance
thereto that are reasonably requested and agreed to by Tax Counsel and Kirkland & Ellis.

 

Article
VI.

Conditions to Closing

 

6.1             
Mutual Conditions. The respective obligations of the Parties to consummate the transactions contemplated by this
Agreement shall be subject to the fulfillment, at or prior to the Closing, of the following conditions, each of which may, to the
extent permitted by applicable Law, be waived in a writing signed by both Seller and the Company, each at its sole discretion:

 

(a)              
No Litigation. No Governmental Authority shall have enacted, issued, promulgated, enforced or entered any Law (whether
temporary, preliminary or permanent) that is then in effect and that enjoins, restrains, conditions, makes illegal or otherwise
prohibits the consummation of the transactions contemplated by this Agreement.

 

(b)              
Consents and Approvals. All authorizations, consents, orders and approvals of all Governmental Authorities or third
parties required in connection with the transactions contemplated by this Agreement shall have been received or waived by such
Governmental Authority or third party and shall be reasonably satisfactory in form and substance to the Parties hereto, and all
notices required to be delivered to such Governmental Authorities or third parties shall have been delivered and all notice periods
with respect thereto shall have expired or been waived by such Governmental Authority or third parties entitled to such notice.

 

    7

     

    

 

6.2             
Conditions to the Obligations of the Company. The obligations of the Company to consummate the transactions contemplated
by this Agreement shall be subject to the fulfillment, at or prior to the Closing, of the following conditions, which may, to the
extent permitted by applicable Law, be waived in writing by the Company in its sole discretion:

 

(a)              
Closing Deliverables. Seller shall deliver to the Company or EQM, as applicable, the closing deliverables set forth
in Section 2.2(a).

 

(b)              
Representations and Warranties. The representations and warranties of Seller contained in this Agreement or any schedule,
certificate or other document delivered pursuant hereto or in connection with the transactions contemplated hereby shall be true
and correct in all material respects (other than representations and warranties that are qualified as to materiality or material
adverse effect, which representations and warranties shall be true in all respects) both when made and as of the Closing Date,
or in the case of representations and warranties that are made as of a specified date, such representations and warranties shall
be true and correct in all material respects (other than representations and warranties that are qualified as to materiality or
material adverse effect, which representations and warranties shall be true in all respects) as of such specified date. Seller
shall have performed in all material respects all obligations and agreements and complied in all material respects with all covenants
and conditions required by this Agreement to be performed or complied with by it prior to or at the Closing.

 

(c)              
Officer’s Certificate. Seller shall deliver to the Company a certificate signed by the Chief Financial Officer
of Seller, dated as of the Closing Date, to the effect set forth in Section 6.2(b).

 

(d)              
FIRPTA Certificate. Seller shall deliver to the Company at the Closing a properly executed affidavit prepared in
accordance with Treasury Regulations Section 1.1445-2(b) certifying Seller’s non-foreign status.

 

(e)              
Tax Matters Opinion. The Company shall have received the TMA Closing Opinion. In rendering such opinion, Tax Counsel
shall be entitled to rely upon customary assumptions, representations, warranties and covenants from each of the Company and Seller
(and any other relevant parties), in each case, in form and substance reasonably satisfactory to Tax Counsel.

 

(f)               
Existing Credit Agreements. The pay-off and termination (including the release of any liens or other security interests
granted in connection therewith) of the Existing Credit Agreements (as defined below) shall occur prior to or substantially concurrently
with the Closing.

 

6.3             
Conditions to the Obligations of Seller. The obligations of Seller to consummate the transactions contemplated
by this Agreement shall be subject to the fulfillment, at or prior to the Closing, of the following conditions, which may, to the
extent permitted by applicable Law, be waived in writing by Seller in its sole discretion:

 

(a)              
Closing Deliverables. The Company shall deliver to Seller the closing deliverables set forth in Section 2.2(b).

 

    8

     

    

 

(b)              
Representations and Warranties. The representations and warranties of the Company contained in this Agreement or
any schedule, certificate or other document delivered pursuant hereto or in connection with the transactions contemplated hereby
shall be true and correct in all material respects (other than representations and warranties that are qualified as to materiality
or material adverse effect, which representations and warranties shall be true in all respects) both when made and as of the Closing
Date, or in the case of representations and warranties that are made as of a specified date, such representations and warranties
shall be true and correct in all material respects (other than representations and warranties that are qualified as to materiality
or material adverse effect, which representations and warranties shall be true in all respects) as of such specified date. The
Company shall have performed in all material respects all obligations and agreements and complied in all material respects with
all covenants and conditions required by this Agreement to be performed or complied with by it prior to or at the Closing.

 

(c)              
Officer’s Certificate. The Company shall deliver to Seller a certificate signed by the Chief Executive Officer
of the Company, dated as of the Closing Date, to the effect set forth in Section 6.3(b).

 

Article
VII.

Release

 

7.1             
Release.

 

(a)              
Notwithstanding anything to the contrary herein, each Party acknowledges and agrees that nothing in this Agreement shall
release the Company or Seller from any of their respective liabilities or obligations under the Tax Matters Agreement (as defined
below).

 

(b)              
Subject to Section 7.1(a), upon the Closing, Seller acknowledges that, subject to delivery by the Company of the executed
Note, Seller, on behalf of itself, its Affiliates, Subsidiaries (as defined below), partners, prior and existing shareholders,
partnerships, unincorporated entities, divisions, and their respective representatives, directors, officers, employees, servants,
agents, attorneys, accountants, auditors, advisors, administrators, predecessors, successors, insurers and assigns (collectively,
the “Releasors”), fully and forever releases, relinquishes and discharges the Company and each of its
Affiliates, Subsidiaries, partners, prior and existing shareholders, partnerships, unincorporated entities, divisions, and their
respective representatives, directors, officers, employees, servants, agents, attorneys, accountants, auditors, advisors, administrators,
predecessors, successors, insurers and assigns, in any and all capacities (the “Releasees”), from any
and all causes of action in Law and equity, claims, surcharges, suits, contracts, debts, obligations, contributions, liens, indemnities,
promises, demands, damages, losses, attorneys’ fees, other fees, costs, expenses, loss of service, compensation, injuries
or liability of any nature, type or description, whether known or unknown, suspected or unsuspected, patent or latent, fixed or
contingent, without limitations (“Claims”), that the Releasors may have now, or may have in the future,
that directly or indirectly arise from or relate to, in whole or in part, any act, omission, event, transaction, communication
or any other matter related to, arising out of or in connection with Seller’s acquisition, ownership or sale of the Subject
Shares, excluding, for the avoidance of doubt, any Claims with respect to the Tax Matters Agreement (the “Released
Claims”).

 

    9

     

    

 

(c)              
Seller represents and warrants that (i) it has not assigned, transferred, conveyed or otherwise disposed of any Released
Claims, or any direct or indirect interest in any such Released Claim, in whole or in part, and (ii) to the best of its knowledge,
no other Person has any interest in the Released Claims. Seller agrees, for itself and for each of the Releasors, not to initiate
any action, suit, proceeding, dispute or litigation against any of the Releasees with respect to the Released Claims. Seller further
agrees to take such actions as necessary to prevent the other Releasors from commencing any suit based on a Released Claim.

 

(d)               
It is the intention of Seller and the Company that the Company’s purchase of the Subject
Shares and the release contained in this Article VII shall be effective as a full and final accord, satisfaction, and agreement
as to the Released Claims.

 

(e)              
Seller agrees that except for an action or proceeding brought to enforce (but not to rescind or reform) the release contained
in this Article VII, Seller will forever refrain and forbear from commencing, instituting or prosecuting, or assisting or
participating in, any lawsuit, action, or other proceeding, in Law, equity or otherwise, against any of the Releasees, in any way
arising out of or relating to any Released Claim, and/or any action alleging that the release of the Released Claims contained
in this Agreement, or any portion thereof, was fraudulently induced.

 

(f)               
Seller expressly acknowledges, on behalf of itself and the Releasors, that it will not have any right to recover against
the Company for any Released Claims, even if other shareholders of the Company are successful in any suit or other action arising
from any such claim.

 

Article
VIII.

Miscellaneous

 

8.1             
Defined Terms. As used herein, the following terms shall have the following meanings:

 

(a)              
“Affiliate” means, with respect to any Person, any other Person that directly or indirectly through
one or more intermediaries controls, is controlled by or is under common control with, the Person in question. As used herein,
the term “control” means the possession, direct or indirect, of the power to direct or cause the direction of the management
and policies of a Person, whether through ownership of voting securities, by contract or otherwise. For the avoidance of doubt,
EQM is an Affiliate of the Company for all purposes under this Agreement, including Section 8.4.

 

(b)              
“Business Day” means any day other than Saturday, Sunday, or any day on which banks located in
the Commonwealth of Pennsylvania are authorized or required by Law to be closed.

 

(c)              
“Existing Credit Agreements” means, collectively, (i) that certain Credit Agreement, dated as
of December 31, 2018, by and among the Company, as borrower, Goldman Sachs Bank USA, as administrative agent, PNC Bank, National
Association, as collateral agent, and the lenders party thereto and any other parties thereto, as amended, restated, supplemented
or otherwise modified from time to time and (ii) that certain Credit Agreement, dated as of October 31, 2018, by and among the
Company, as borrower, PNC Bank, National Association, as administrative agent, the lenders and other parties thereto, as amended,
modified or supplemented from time to time.

 

    10

     

    

 

(d)              
“Governmental Authority” means any federal, state, local or foreign government or political subdivision
thereof, or any agency or instrumentality of such government or political subdivision, or any self-regulated organization or other
non-governmental regulatory authority or quasi-governmental authority, or any arbitrator, court or tribunal of competent jurisdiction.

 

(e)              
“Kirkland & Ellis” means Kirkland & Ellis LLP.

 

(f)               
“Kirkland Opinion” means a written tax opinion delivered to Seller from Kirkland & Ellis,
dated as of the Closing Date, satisfying the requirements of an “Unqualified Tax Opinion” (as defined in the Tax Matters
Agreement), with respect to the transactions contemplated by this Agreement.

 

(g)              
“Law” means any provision of any law or administrative rule or regulation or any judicial, administrative
or arbitration order, award, judgment, writ, injunction or decree.

 

(h)              
“Person” means an individual or a corporation, firm, limited liability company, partnership, joint
venture, trust, estate, unincorporated organization, association, Governmental Authority or other entity.

 

(i)                
“Representative” means, with respect to any Person, such Person’s directors, officers, employees,
partners, members, shareholders, agents or representatives.

 

(j)                
“Subsidiary” when used with respect to any Person, means any Person of which securities or other
ownership interests representing more than 50% of the equity or more than 50% of the ordinary voting power (or in the case of a
partnership, more than 50% of the general partner interests, or in the case of a limited liability company, more than 50% of the
ownership interests in the managing member) are, as of such date, owned by such Person or one or more Subsidiaries of such Person.

 

(k)              
“Tax” means any federal, state, local or foreign income, gross receipts, branch profits, license,
payroll, employment, excise, severance, stamp, occupation, premium, windfall profits, escheat, environmental, customs duties, capital
stock, franchise, profits, withholding, social security, unemployment, disability, real property, personal property, sales, use,
transfer, registration, ad valorem, value added, alternative or add-on minimum or estimated tax or other tax of any kind whatsoever,
including any interest, penalty or addition thereto, whether disputed or not and including any obligation to indemnify or otherwise
assume or succeed to the Tax liability of any other Person by Law, by contract or otherwise.

 

(l)                
“Tax Counsel” means Latham & Watkins LLP.

 

(m)            
“Tax Matters Agreement” means the Tax Matters Agreement by and between Seller and the Company,
dated as of November 12, 2018.

 

    11

     

    

 

(n)              
“Tax Return” means any return, report, information return or other such statement or document
(including, without limitation, any schedule or attachment thereto any amendment thereof) filed or required to be filed with any
federal, state, local or non-U.S. taxing authority in connection with the determination, assessment, collection, administration
or imposition of any Tax.

 

(o)              
“TMA Closing Opinion” means a written Tax opinion from Tax Counsel, dated as of the Closing Date,
the form and substance of which have been approved in writing by Seller on or prior to the Closing Date, satisfying the requirements
of an “Unqualified Tax Opinion” (as defined in the Tax Matters Agreement) with respect to the transactions contemplated
by this Agreement.

 

(p)              
“TMA Signing Opinion” means a written Tax opinion from Tax Counsel, dated as of the date hereof,
the form and substance of which have been approved in writing by Seller on or prior to the date hereof, satisfying the requirements
of an “Unqualified Tax Opinion” (as defined in the Tax Matters Agreement) with respect to the Company’s and Seller’s
entry into this Agreement.

 

8.2             
Notices. All notices and other communications hereunder must be in writing
and will be deemed duly given if delivered personally or by email transmission, or mailed through a nationally recognized overnight
courier, postage prepaid, to the Parties at the following addresses (or at such other address for a Party as specified by like
notice, provided, however, that notices of a change of address will be effective only upon receipt thereof):

 

	if to the Company: 	Equitrans Midstream Corporation
	 	2200 Energy Drive
	 	Canonsburg, PA 15317
	 	Attn: Kirk R. Oliver (koliver@equitransmidstream.com) and
	 	Stephen M. Moore (smoore@equitransmidstream.com)
	 	 
	with a copy to:	Latham & Watkins LLP
	 	811 Main Street, Suite 3700
	 	Houston, TX 77002
	 	Attn: Ryan Maierson (ryan.maierson@lw.com) and
	 	Nick Dhesi (nick.dhesi@lw.com)
	 	 
	if to Seller:	EQT Corporation
	 	625 Liberty Avenue, Suite 1700
	 	Pittsburgh, PA 15222
	 	Attn: David M. Khani (David.Khani@eqt.com) and
	 	William E. Jordan (WiJordan@eqt.com)
	 	 
	with a copy to:	Kirkland & Ellis LLP
	 	609 Main Street, 45th Floor
	 	Houston, TX 77002
	 	Attn: Matthew R. Pacey (matt.pacey@kirkland.com)

 

    12

     

    

 

Notices will be deemed
to have been received on the date of receipt (a) if delivered by hand or nationally recognized overnight courier service or (b)
upon receipt of an appropriate confirmation by the recipient when so delivered by email.

 

8.3             
Termination. This Agreement may only be terminated by (i) mutual written consent of the Parties to terminate
this Agreement prior to Closing, (ii) by either Party if such other Party is in breach of the terms of this Agreement if such breach
continues unremedied for a period of five (5) calendar days after notice to the breaching Party or (iii) by either Party if the
Closing has not occurred by March 31, 2020. Upon termination of this Agreement, no Party shall have any further obligations or
liabilities under this Agreement; provided, however, that (i) nothing in this Section 8.3 shall relieve either Party from
liability for fraud or any willful breach of this Agreement prior to the termination hereof and (ii) the provisions of this Article
VIII shall survive any termination of this Agreement.

 

8.4             
Acknowledgements.

 

(a)              
Seller acknowledges and understands (i) that the Company and its Affiliates possess material nonpublic information regarding
the Company, its Affiliates and the Subject Shares not known to Seller that may impact the value of the Subject Shares, including,
without limitation, (A) information received by principals and employees of the Company in their respective capacities as Representatives
of the Company and its Affiliates, and (B) information received on a privileged basis from the attorneys and financial advisors
representing the Company and/or its Affiliates (collectively, the “Information”); (ii) that the Company
is unable or unwilling to disclose the Information to Seller, (iii) the Information, if disclosed to Seller, could affect Seller’s
decision to enter into this Agreement; and (iv) the risks to and disadvantage of Seller due to the disparity of information between
Seller and the Company.

 

(b)              
Notwithstanding such disparity of information (including any non-disclosure of the Information), Seller has deemed it appropriate
to enter into this Agreement and to consummate the transactions contemplated hereby.

 

(c)              
Seller agrees that none of the Company, its Affiliates, or any of its or their respective Representatives shall have any
liability to Seller, its Affiliates, or any of its or their respective Representatives whatsoever due to or in connection with
the Company’s and its Affiliates’ use or non-disclosure of the Information or otherwise as a result of the transactions
contemplated hereby, and Seller hereby irrevocably waives any claim that it might have based on the failure of the Company and
its Affiliates to disclose the Information.

 

(d)              
Seller acknowledges that (i) the Company is relying on Seller’s representations, warranties, acknowledgements and
agreements in this Agreement as a condition to proceeding with the transactions contemplated hereby and (ii) without such representations,
warranties, acknowledgements and agreements, the Company would not enter into this Agreement or engage in the transactions contemplated
hereby.

 

8.5             
Amendment; Waiver. This Agreement may not be amended except by an instrument in writing signed on behalf of
each of the Parties. Any agreement on the part of either Party to any extension or waiver with respect to this Agreement shall
be valid only if set forth in an instrument in writing signed on behalf of such Party. The failure of either Party to assert any
of its rights under this Agreement or otherwise shall not constitute a waiver of such rights.

 

    13

     

    

 

8.6             
Expenses. All fees and expenses incurred in connection this Agreement and the transactions contemplated hereby
shall be paid by the Party incurring such fees and expenses, whether or not the transactions contemplated by this Agreement are
consummated.

 

8.7             
Entire Agreement. This Agreement, together with the GGA, the Fee Letter Agreement and the other documents and
certificates delivered pursuant hereto, constitute the entire agreement, and supersede all prior agreements and understandings,
both written and oral, between the Parties with respect to the subject matter of this Agreement.

 

8.8             
Assignment. Neither this Agreement nor any of the rights, interests or obligations under this Agreement shall
be assigned, in whole or in part, by operation of Law or otherwise by either Party without the prior written consent of the other
Party. Any purported assignment without such consent shall be void. Subject to the preceding sentences, this Agreement will be
binding upon, inure to the benefit of, and be enforceable by, the Parties and their respective successors and assigns.

 

8.9             
Specific Enforcement; Jurisdiction.

 

(a)              
The Parties acknowledge and agree that irreparable damage would occur in the event that any of the provisions of this Agreement
were not performed in accordance with its specific terms or were otherwise breached, and that monetary damages, even if available,
would not be an adequate remedy therefor. It is accordingly agreed that the Parties shall be entitled to an injunction or injunctions,
or any other appropriate form of equitable relief, to prevent breaches of this Agreement and to enforce specifically the performance
of the terms and provisions of this Agreement in any court referred to in Section 8.9(b), without the necessity of proving
the inadequacy of money damages as a remedy (and each Party hereby waives any requirement for the securing or posting of any bond
in connection with such remedy), this being in addition to any other remedy to which they are entitled at Law or in equity. Each
of the Parties acknowledges and agrees that the right of specific enforcement is an integral part of the transactions contemplated
by this Agreement and without such right, neither of the Parties would have entered into this Agreement.

 

(b)              
Each of the Parties hereby irrevocably submits to the exclusive jurisdiction of the courts of the State of Delaware for
the purpose of any legal action, suit or proceeding arising out of or relating to this Agreement or any of the transactions contemplated
hereby, and each of the Parties hereby irrevocably agrees that all claims with respect to such legal action, suit or proceeding
may be heard and determined exclusively in such court. Each of the Parties (i) consents to submit itself to the personal jurisdiction
of the courts of the State of Delaware in the event any legal action, suit or proceeding arises out of this Agreement or any of
the transactions contemplated hereby, (ii) agrees that it will not attempt to deny or defeat such personal jurisdiction by motion
or other request for leave from any such court, (iii) irrevocably consents to the service of process in any legal action, suit
or proceeding arising out of or relating to this Agreement or any of the transactions contemplated hereby, on behalf of itself
or its property, in accordance with Section 8.2 (provided that nothing in this Section 8.9(b) shall affect the right
of either Party to serve legal process in any other manner permitted by applicable Law) and (iv) agrees that it will not bring
any legal action, suit or proceeding relating to this Agreement or any of the transactions contemplated hereby in any court other
than the courts of the State of Delaware. The Parties agree that a final trial court judgment in any such legal action, suit or
proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided
by applicable Law; provided, however, that nothing in the foregoing shall restrict either Party’s rights to
seek any post-judgment relief regarding, or any appeal from, such final trial court judgment.

 

    14

     

    

 

8.10         
Waiver of Jury Trial. Each Party hereby waives, to the fullest extent permitted by applicable Law, any right it may
have to a trial by jury in respect of any legal action, suit or proceeding arising out of this Agreement or any of the transactions
contemplated hereby. Each Party (a) certifies that no Representative, agent or attorney of the other Party has represented, expressly
or otherwise, that such Party would not, in the event of any legal action, suit or proceeding, seek to enforce the foregoing waiver
and (b) acknowledges that it and the other Party have been induced to enter into this Agreement by, among other things, the mutual
waiver and certifications in this Section 8.10.

 

8.11         
Governing Law. This Agreement shall be governed by, and construed in accordance with, the Laws of the State of
Delaware, regardless of the Laws that might otherwise govern under applicable principles of conflicts of Laws thereof.

 

8.12         
Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced
by any rule or Law, or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force
and effect so long as the economic or legal substance of the transactions contemplated by this Agreement is not affected in any
manner adverse to either Party.

 

8.13         
Counterparts. This Agreement may be executed in one or more counterparts, all of which shall be considered one
and the same agreement and shall become effective when one or more counterparts have been signed by each of the Parties and delivered
to the other Party. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other electronic
image scan transmission shall be effective as delivery of a manually executed counterpart of this Agreement.

 

8.14         
Further Assurances. Each Party will execute and deliver, or cause to be executed and delivered, all further documents
and instruments and use its reasonable best efforts to take, or cause to be taken, all actions and to do, or cause to be done,
all things necessary, proper or advisable under applicable Law to perform its obligations under this Agreement. Each Party shall
use its reasonable best efforts to take, or cause to be taken, any and all actions and to do, or cause to be done, and to assist
such other Party in doing, any and all things, necessary, proper or advisable to consummate and make effective the transactions
contemplated by this Agreement.

 

    15

     

    

 

8.15         
Certain Transaction-Related Taxes. All transfer, documentary, sales, use, stamp, recording fees, registration
and similar Taxes and fees (including, without limitation, any penalties and interest) attributable to Seller’s sale of
the Subject Shares to the Company pursuant to this Agreement shall be paid equally by the Company and Seller when due, and Seller
shall, at its expense, file all necessary Tax Returns and other documentation with respect to all such transfer, documentary,
sales, use, stamp, recording fees, registration and other Taxes. The Company shall be entitled to deduct and withhold from the
Purchase Price all Taxes that the Company may be required to deduct and withhold under any provision of applicable Tax Law; provided
that, the Company shall use commercially reasonable efforts to notify Seller at least three (3) days prior to the Closing Date)
of any such determination and the Parties shall cooperate in good faith to minimize, to the extent permissible under applicable
Law, the amount of any such deduction or withholding. To the extent such amounts are so deducted or withheld, and remitted to
the applicable Governmental Authority in accordance with applicable Tax Law, all such withheld amounts shall be treated as delivered
to Seller hereunder.

 

[Remainder of this page is intentionally
left blank.]

 

    16

     

    

 

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

 

	 	THE COMPANY:
	 	 
	 	EQUITRANS MIDSTREAM CORPORATION,
	 	a Pennsylvania corporation
	 	 	 
	 	By:   	/s/ Kirk R. Oliver
	 	 	Kirk R. Oliver
	 	 	Senior Vice President and Chief Financial Officer

 

[Signature Page to Share Purchase Agreement]

 

    

     

    

 

	 	SELLER:
	 	 
	 	EQT Corporation,
	 	a Pennsylvania corporation
	 	 	 
	 	By:   	/s/ David M. Khani
	 	 	David M. Khani
	 	 	Chief Financial Officer

 

[Signature Page to
Share Purchase Agreement]

 

    

     

    

 

EXHIBIT A

 

Form
of PROMISSORY Note

 

[Attached]

 

    

     

    

 

Final Form

 

PROMISSORY NOTE

 

	$195,820,075.29	 	March              , 2020

 

FOR VALUE RECEIVED,
this promissory note (this “Note”) is made by Equitrans Midstream Corporation, a Pennsylvania corporation
(the “Borrower”), in favor of EQT Corporation, a Pennsylvania corporation (together with its successors
and permitted assigns who become registered holders of this Note, the “Lender”). The Borrower and the
Lender are referred to herein collectively as the “Parties” and each, individually, as a “Party.”

 

THIS NOTE HAS
BEEN ISSUED WITH “ORIGINAL ISSUE DISCOUNT” (WITHIN THE MEANING OF SECTION 1273 OF THE INTERNAL REVENUE CODE OF 1986,
AS AMENDED). UPON WRITTEN REQUEST, THE BORROWER WILL PROMPTLY MAKE AVAILABLE TO ANY HOLDER OF THIS NOTE THE FOLLOWING INFORMATION:
(1) THE ISSUE PRICE AND ISSUE DATE OF THE NOTE, (2) THE AMOUNT OF ORIGINAL ISSUE DISCOUNT ON THE NOTE AND (3) THE YIELD TO MATURITY
OF THE NOTE.

 

Section 1.            Amount,
Maturity, Payment and Interest

 

1.01       Amount.
This Note is in the aggregate principal amount of one hundred ninety-five million, eight hundred twenty thousand, seventy-five
dollars and twenty-nine cents ($195,820,075.29) (the “Loan”).

 

1.02       Maturity
Date. On or prior to February 29, 2024 (the “Maturity Date”), the Borrower agrees and promises
to pay the Lender the unpaid principal balance of the Loan and all other amounts outstanding hereunder, together with interest
until such sums are repaid in full, at the Rate set forth in Section 1.04 below.

 

1.03       Prepayment.
The Borrower may prepay to the Lender, without premium or penalty, all or a portion of the Loan hereunder at any time prior to
the Maturity Date by providing two (2) business days’ advanced written notice to the Lender. Such prepayment shall be accompanied
by prepayment of all accrued but unpaid interest on the principal amount prepaid. Any portion of the Loan that is repaid may not
be re-borrowed.

 

1.04       Interest.
The Loan hereunder shall accrue interest at a rate (expressed as a per annum percentage and calculated based upon a year of 360
days for the actual number of days elapsed) equal to 7.0% per annum (the “Rate”) (plus, during the continuance
of an Event of Default, an additional 2.0% per annum on the amount of the Loan outstanding), commencing on the date hereof; provided,
however, that if the interest rate payable hereunder is limited by applicable law, the Rate shall be the lesser of: (a)
the rate described above and (b) the maximum interest rate permitted by applicable law. The Borrower promises to pay interest at
the Rate on the unpaid principal balance of the Loan from time to time outstanding semi-annually on the last business day of each
of March and September of each year (each, an “Interest Payment Date”), commencing on the earlier of
(a) March 31, 2022 and (b) the MVP In-Service Date (as defined in that certain Gas Gathering and Compression Agreement, dated as
of the date hereof, by and among the Lender and EQM Midstream Partners, LP and/or one or more of their respective affiliates).

 

    

     

    

 

Section 2.            Notes
Register

 

2.01       Notes
Register. The Borrower shall maintain a register for the Note (the “Notes Register”), which includes
identifying information (including at least name and address) of the Lender, as well as the outstanding principal amount of the
Loan owing to the Lender from time to time. Subject to Section 2.02, the entries in the Notes Register shall be conclusive,
and the Borrower shall treat each person or entity whose name is recorded in the Notes Register pursuant to the terms hereof as
the Lender hereunder for all purposes of the Note. The Notes Register shall be available for inspection by the Lender, at any reasonable
time and from time to time upon reasonable prior notice. No assignment, transfer or other disposition of the Note (or any portion
thereof) shall be effective unless it has been recorded in the Notes Register. The Parties hereto shall take all actions reasonably
necessary from time to time to establish that this Note and the amounts owing hereunder are in registered form under Section 5f.103-1(c)
of the Treasury Regulations.

 

2.02       Entries.
The entries made in the Notes Register shall, to the extent permitted by applicable law and absent manifest error, be conclusive
evidence of the existence and amounts of the obligations recorded therein; provided, however, that the failure of
the Borrower to maintain such Notes Register or any error therein shall not in any manner affect the obligations of the Borrower
to repay the Note in accordance with its terms. No changes to the Note Register (other than to evidence an assignment or transfer
pursuant to Section 4.02 or a change of address pursuant to Section 4.04) shall be effective without the written
consent of the Lender.

 

Section
3.            Events of
Default

 

3.01       Event
of Default. It shall be an “Event of Default” for the purposes of this Note if (a) the Borrower
defaults in the payment on or prior to the Maturity Date of any principal or interest when due under this Note and, with respect
to any default prior to the Maturity Date, such default continues unremedied for a period of fifteen (15) days after notice thereof
to the Borrower; (b) the Borrower shall commence a proceeding under any applicable bankruptcy or insolvency laws as now or hereafter
in effect or any successor thereto, or any other proceeding under any reorganization, arrangement, adjustment of debt, relief of
debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction whether now or hereafter in effect relating
to the Borrower; (c) there is commenced against the Borrower any such bankruptcy, insolvency or other proceeding that remains undismissed
for a period of sixty (60) days; (d) the Borrower is adjudicated insolvent or bankrupt, or any order of relief or other order approving
any such case or proceeding is entered; (e) the Borrower suffers any appointment of any custodian, private or court appointed receiver
or the like for it or any substantial part of its property (taken as a whole) which continues undischarged or unstayed for a period
of sixty (60) days; (f) the Borrower makes a general assignment for the benefit of creditors; (g) the Borrower shall fail to pay,
or shall admit in writing that it is unable to pay, or shall be unable to pay, its debts generally as they become due; (h) the
Borrower shall by any act or failure to act expressly indicate in writing (or in a filed answer in respect of a proceeding) its
consent to, approval of or acquiescence in any of the foregoing; or (i) this Note shall for any reason be asserted in writing by
the Borrower not to be a legal, valid and binding obligation of the Borrower.

 

    2 

     

    

 

3.02       Consequences
of an Event of Default. During the existence of any Event of Default, the Lender may declare by written notice to the Borrower
the outstanding principal balance of the Loan outstanding, all accrued but unpaid interest thereon, and all other amounts payable
by the Borrower under this Note to be immediately due and payable, whereupon the same shall become immediately due and payable,
without presentment, demand, protest, notice of intent to accelerate, notice of actual acceleration or further notice of any kind,
all of which are hereby expressly waived by the Borrower. During the existence of any Event of Default, the Lender may exercise
all of its rights under this Note and all other rights at law or in equity. During the existence of any Event of Default, all payments
and collections received by the Lender shall be applied in the order determined by the Lender.

 

3.03       General
Offset. In addition to any other rights or remedies available to the Lender (including other rights of set-off), the Lender
reserves the right, during the continuance of an Event of Default, to apply any amounts otherwise owing to the Borrower (whether
such amounts constitute indebtedness owed by the Lender, distributions on equity interests of the Lender or otherwise) as an offset
of amounts owed to the Lender under this Note, including as an offset against any outstanding principal or interest on this Note.
The Lender agrees to promptly notify the Borrower after any such offset and/or application made by the Lender; provided,
however, that the failure to give such notice shall not affect the validity of such offset and/or application.

 

Section 4.            Miscellaneous

 

4.01       Governing
Law. This Note shall be governed by and construed in accordance with the laws of the State of Delaware without giving effect
to the principles of conflict of laws thereof. EACH OF THE PARTIES HERETO AGREES THAT THIS NOTE INVOLVES AT LEAST U.S. $100,000.00
AND THAT THIS NOTE HAS BEEN ENTERED INTO IN EXPRESS RELIANCE UPON 6 Del. C. § 2708. The parties hereby irrevocably and unconditionally
(a) consent to submit to the personal jurisdiction of the courts of the State of Delaware in the event any legal action, suit or
proceeding arises in connection with this Note, (b) agree that they will not attempt to deny or defeat such personal jurisdiction
by motion or other request for leave from any such court, (c) consent to the service of process in any legal action, suit or proceeding
arising out of or relating to this Note, on behalf of themselves or their property, including, without limitation, service of process
effected in accordance with Section 4.04 hereof, and (d) agree that they will not bring any legal action, suit or proceeding
relating to this Note in any court other than the courts of the State of Delaware. The Parties agree that a final trial court judgment
in any such legal action, suit or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment
or in any other manner provided by applicable law; provided, however, that nothing in the foregoing shall restrict
either Party’s rights to seek any post-judgment relief regarding, or any appeal from, such final trial court judgment.

 

4.02       Successors
and Assigns. No Party may assign or transfer this Note without the prior written consent of the other Party (and any attempted
assignment or transfer without such consent shall be null and void); provided, however, that the Borrower hereby
consents to the assignment of this Note to EQM Midstream Partners, LP, a Delaware limited partnership (“EQM”),
or any wholly owned subsidiary of EQM. Upon a permitted assignment or other permitted transfer of this Note, (a) the Borrower
shall update the Notes Register to account for such assignment or transfer and (b) the assignee or transferee may request that
the Borrower reissue a promissory note for the assigned or transferred amount in the name of the assignee or transferee and the
Borrower shall promptly take steps to accommodate such request. Subject to the foregoing, the obligations of the Borrower and
the Lender under this Note shall be binding upon, and inure to the benefit of, and be enforceable by, the Borrower and the Lender,
and their respective successors and permitted assigns, whether or not so expressed. Notwithstanding the foregoing, this Note may
be pledged by the Lender to third party creditors, as security for the Lender’s obligations, if any, under applicable financing
documents to which the Lender is a party.

 

    3 

     

    

 

4.03       Costs
and Expenses. If this Note is not paid at maturity, whether by acceleration or otherwise, and is placed in the hands of
an attorney for collection, or suit is filed hereon, or proceedings are had in bankruptcy, receivership, reorganization, arrangement
or other legal or judicial proceedings for collection hereof, the Borrower agrees to pay the Lender’s reasonable costs and
expenses, including attorneys’ fees.

 

4.04       Notice.
All notices and other communications hereunder must be in writing and will be deemed duly given if delivered personally or by email
transmission, or mailed through a nationally recognized overnight courier, postage prepaid, to the Parties at the following addresses
(or at such other address for a Party as specified by like notice, provided, however, that notices of a change
of address will be effective only upon confirmation of receipt of notice of such change by the other Party; provided further,
that if the Lender delivers a notice of a change of address to the Borrower, the Borrower will confirm receipt of such notice and
make entry in the Notes Register of such change promptly thereafter):

 

	if to the Borrower:	Equitrans Midstream Corporation
	 	2200 Energy Drive
	 	Canonsburg, PA 15317
	 	Attn: Kirk R. Oliver (koliver@equitransmidstream.com) and
	 	Stephen M. Moore (smoore@equitransmidstream.com)
	 	 
	with a copy to:	Latham & Watkins LLP
	 	811 Main Street, Suite 3700
	 	Houston, TX 77002,
	 	Attn: Ryan Maierson (ryan.maierson@lw.com) and
	 	Nick Dhesi (nick.dhesi@lw.com),
	 	 
	if to the Lender:	as recorded on the Notes Register

 

Notices will be deemed
to have been received on the date of receipt (a) if delivered by hand or nationally recognized overnight courier service or (b)
upon receipt of an appropriate confirmation by the recipient when so delivered by email.

 

4.05       Rights
and Remedies. No failure to exercise and no delay in exercising, on the part of the Lender, any right, remedy, power or
privilege under this Note, or provided by law and no course of dealing between any such person or entity and the Borrower, nor
any release or extension of time for payment of this Note, shall imply or otherwise operate as a waiver of any such right, remedy,
power or privilege, nor shall any single or partial exercise of any right, remedy, power or privilege under this Note preclude
any other or further exercise thereof or the exercise of any other right, remedy, power or privilege or release, modify, amend,
waive, extend, discharge, terminate or limit or otherwise affect the liability of the Borrower, and its successors and assigns,
under this Note. The rights, remedies, powers and privileges under this Note are cumulative and not exclusive of any rights, remedies,
powers and privileges provided by law.

 

    4 

     

    

 

4.06       Status
of Note. The Note is a general unsecured, senior obligation of the Borrower.

 

4.07       Counterparts.
This Note may be executed in one or more counterparts, all of which shall be considered one and the same agreement and shall become
effective when one or more counterparts have been signed by each of the Parties and delivered to the other Party.

 

4.08       Amendment.
This Note may be modified, amended, waived, extended, changed, discharged or terminated only by an agreement in writing signed
by the party against whom enforcement of any such modification, amendment, waiver, extension, change, discharge or termination
is sought.

 

4.09       Severability.
If any provision of this Note is declared or found to be illegal, unenforceable or void, in whole or in part, then the parties
shall be relieved of all obligations arising under such provision, but only to the extent that it is illegal, unenforceable or
void, it being the intent and agreement of the parties that this Note shall be deemed amended by modifying such provision to the
extent necessary to make it legal and enforceable while preserving its intent or, if that is not possible, by substituting therefor
another provision that is legal and enforceable and achieves the same objectives.

 

[Signature page follows]

 

    5 

     

    

 

IN WITNESS WHEREOF, the Parties have executed
this Note as of the date first written above.

 

	 	EQUITRANS MIDSTREAM CORPORATION,
	 	a Pennsylvania corporation
	 	 	 
	 	By:	 
	 	Name:  	Kirk R. Oliver
	 	Title:	Senior Vice President and Chief Financial Officer

 

    

     

    

 

	 	EQT Corporation,
	 	a Pennsylvania corporation
	 	 	 
	 	By:	
	 	Name:  	David M. Khani
	 	Title:	Chief Financial Officer

 

    

     

    

 

EXHIBIT B

 

Form
of ASSIGNMENT AGREEMENT

 

[Attached]

 

    

     

    

 

Final Form

 

ASSIGNMENT AND ASSUMPTION AGREEMENT

 

This Assignment and
Assumption Agreement (this “Agreement”) is made and entered into this day of March, 2020 (the “Effective
Date”), by and between EQT Corporation, a Pennsylvania corporation (the “Assignor”), and
EQM Midstream Partners, LP, a Delaware limited partnership (the “Assignee”), and agreed and consented
to by Equitrans Midstream Corporation, a Pennsylvania corporation (“ETRN”). The Assignor and the Assignee
are individually referred to as a “Party” and collectively as the “Parties.”

 

W I T N E S S E T H:

 

WHEREAS, the
Assignor is party to that certain Share Purchase Agreement, dated as of the date hereof (the “Note Share Purchase Agreement”),
with ETRN, pursuant to which the Assignor agreed, among other things, to sell to ETRN 20,530,256 shares of common stock, no par
value, of ETRN in exchange for a promissory note, entered into by ETRN in favor of Assignor, representing $195,820,075.29 in aggregate
principal amount (the “Note”);

 

WHEREAS, pursuant
to Section 1.2 of the Note Share Purchase Agreement, the Assignor shall assign all of the Assignor’s right and title to,
and interest in, the Note (the “Assigned Rights”) to the Assignee in exchange for the consideration contemplated
to be delivered to Assignor in connection with (i) that certain Gas Gathering and Compression Agreement, dated as of February 26,
2020, by and between the Assignee and the Assignor and and/or one or more of their respective affiliates (the “GGA”)
and (ii) that certain letter agreement, dated as of February 26, 2020, by and between the Assignee and the Assignor (the “Fee
Letter Agreement”), pursuant to which, among other things, the parties thereto shall set forth certain agreements
relating to the in-service date of the Mountain Valley Pipeline and the reservation rates related thereto; and

 

WHEREAS, the
Assignor desires to transfer the Assigned Rights to the Assignee, and the Assignee desires to accept from the Assignor, the Assigned
Rights in accordance with and subject to the terms and conditions of this Agreement.

 

NOW, THEREFORE,
in consideration of the promises contained herein, the Parties hereby agree as follows:

 

1.       Assignment
and Assumption of Assigned Rights. Effective as of the Effective Date, for good and valuable consideration set forth herein
and in the GGA and the Fee Letter Agreement, the receipt and sufficiency of which are hereby acknowledged, (a) the Assignor (or
its designee) hereby transfers, assigns, conveys and delivers to the Assignee the Assigned Rights, and (b) the Assignee hereby
accepts the assignment of the Assigned Rights (jointly, the “Assignment”).

 

2.       Surviving
Assignor Obligations. Notwithstanding anything to the contrary set forth in this Agreement, the Assignor retains all obligations,
indemnities and liabilities due to ETRN under the Note Share Purchase Agreement unless and until expressly released by ETRN or
its successors or permitted assigns thereto.

 

    

     

    

 

3.       Notes
Register. Effective as of the Effective Date, ETRN shall record the Assignment in the Notes Register (as defined in the
Note) and treat the Assignee as the Lender (as defined in the Note) for all purposes of the Note.

 

4.       General
Offset. ETRN hereby confirms that, in addition to any other rights or remedies available to the Assignee (including other
rights of set-off), during the continuance of an Event of Default (as defined in the Note), the Assignee shall have the right to
apply any amounts otherwise owing to ETRN (whether such amounts constitute indebtedness owed by the Assignee, distributions on
equity interests of the Assignee or otherwise) as an offset of amounts owed to the Assignee under the Note, including as an offset
against any outstanding principal or interest on the Note. The Assignee agrees to promptly notify ETRN after any such application
made by the Assignee; provided, however, that the failure to give such notice shall not affect the validity of such
application.

 

5.       General
Provisions.

 

(a)       Binding
Effect. This Agreement will be binding upon, and will inure to the benefit of, the Parties and their respective successors,
permitted assigns and legal representatives.

 

(b)       Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware without giving
effect to the principles of conflict of laws thereof. EACH OF THE PARTIES HERETO AGREES THAT THIS AGREEMENT INVOLVES AT LEAST U.S.
$100,000.00 AND THAT THIS AGREEMENT HAS BEEN ENTERED INTO IN EXPRESS RELIANCE UPON 6 Del. C. § 2708. Each of the Parties hereby
irrevocably submits to the exclusive jurisdiction of the courts of the State of Delaware for the purpose of any legal action, suit
or proceeding arising out of or relating to this Agreement, and each of the Parties hereby irrevocably agrees that all claims with
respect to such legal action, suit or proceeding may be heard and determined exclusively in such court. Each of the Parties (i)
consents to submit itself to the personal jurisdiction of the courts of the State of Delaware in the event any legal action, suit
or proceeding arises out of this Agreement or any of the transactions contemplated hereby, (ii) agrees that it will not attempt
to deny or defeat such personal jurisdiction by motion or other request for leave from any such court, (iii) irrevocably consents
to the service of process in any legal action, suit or proceeding arising out of or relating to this Agreement or any of the transactions
contemplated hereby, on behalf of itself or its property, including, without limitation, service of process effected in the manner
set forth in Section 5(j), and (iv) agrees that it will not bring any legal action, suit or proceeding relating to this
Agreement or any of the transactions contemplated hereby in any court other than the courts of the State of Delaware. The Parties
agree that a final trial court judgment in any such legal action, suit or proceeding shall be conclusive and may be enforced in
other jurisdictions by suit on the judgment or in any other manner provided by applicable Law; provided, however,
that nothing in the foregoing shall restrict either Party’s rights to seek any post-judgment relief regarding, or any appeal
from, such final trial court judgment.

 

    2 

     

    

 

(c)       Amendment;
Waiver. This Agreement may not be amended except by an instrument in writing signed on behalf of each of the Parties. Any
agreement on the part of either Party to any extension or waiver with respect to this Agreement shall be valid only if set forth
in an instrument in writing signed on behalf of such Party. The failure of either Party to assert any of its rights under this
Agreement or otherwise shall not constitute a waiver of such rights.

 

(d)       Further
Assurances. Each Party will execute and deliver, or cause to be executed and delivered, all further documents and instruments
and use its reasonable best efforts to take, or cause to be taken, all actions and to do, or cause to be done, all things necessary,
proper or advisable under applicable Law to perform its obligations under this Agreement. Each Party shall use its reasonable best
efforts to take, or cause to be taken, any and all actions and to do, or cause to be done, and to assist such other Party in doing,
any and all things, necessary, proper or advisable to consummate and make effective the transactions contemplated by this Agreement.
For purposes of this Agreement, “Law” shall mean any provision of any law or administrative rule or regulation
or any judicial, administrative or arbitration order, award, judgement, writ, induction or decree.

 

(e)       Interpretation.
Whenever possible, each provision of this Agreement shall be interpreted in such a manner as to be effective and valid under applicable
Law. If any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable Law,
the validity, legality and enforceability of the remaining provisions hereof shall not be affected or impaired thereby.

 

(f)       Expenses.
All fees and expenses incurred in connection this Agreement and the transactions contemplated hereby shall be paid by the Party
incurring such fees and expenses, whether or not the transactions contemplated by this Agreement are consummated.

 

(g)       No
Third Party Rights. The provisions of this Agreement are intended to bind the Parties and their successors and permitted assigns
as to each other and are not intended to and do not create rights in any other person or confer upon any other person any benefits,
rights or remedies and no person is or is intended to be a third party beneficiary of any of the provisions of this Agreement.

 

(h)       Counterparts.
This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement and shall
become effective when one or more counterparts have been signed by each of the Parties and delivered to the other Party. Delivery
of an executed counterpart of a signature page of this Agreement by facsimile or other electronic image scan transmission shall
be effective as delivery of a manually executed counterpart of this Agreement.

 

(i)Severability.If
any provision of this Agreement is declared or found to be illegal, unenforceable or void, in whole or in part, then the parties
shall be relieved of all obligations arising under such provision, but only to the extent that it is illegal, unenforceable or
void, it being the intent and agreement of the parties that this Agreement shall be deemed amended by modifying such provision
to the extent necessary to make it legal and enforceable while preserving its intent or, if that is not possible, by substituting
therefor another provision that is legal and enforceable and achieves the same objectives.

 

    3 

     

    

 

(j)       Notice.
All notices and other communications hereunder must be in writing and will be deemed duly given if delivered personally or by
email transmission, or mailed through a nationally recognized overnight courier, postage prepaid, to the Parties or ETRN at the
following addresses (or at such other address for a Party or ETRN as specified by like notice, provided, however,
that notices of a change of address will be effective only upon confirmation of receipt of notice of such change by the other
Party or ETRN, as applicable; provided further, that if the Assignee delivers a notice of a change of address to ETRN,
ETRN will confirm receipt of such notice and make entry in the Notes Register of such change promptly thereafter):

 

	if
    to Assignor:	EQT
    Corporation
	 	625
    Liberty Avenue, Suite 1700
	 	Pittsburgh,
    PA 15222
	 	Attn:
    David M. Khani (David.Khani@eqt.com) and
	 	William E. Jordan (WiJordan@eqt.com)
	 	 
	if
    to Assignee:	EQM
    Midstream Partners, LP
	 	2200
    Energy Drive
	 	Canonsburg,
    PA 15317
	 	Attn:
    Kirk R. Oliver (koliver@equitransmidstream.com) and
	 	Stephen
    M. Moore (smoore@equitransmidstream.com)
	 	 
	if
    to ETRN:	Equitrans
    Midstream Corporation
	 	2200
    Energy Drive
	 	Canonsburg,
    PA 15317
	 	Attn:
    Kirk R. Oliver (koliver@equitransmidstream.com) and
	 	Stephen
    M. Moore (smoore@equitransmidstream.com)

 

Notices will be deemed
to have been received on the date of receipt (a) if delivered by hand or nationally recognized overnight courier service or (b)
upon receipt of an appropriate confirmation by the recipient when so delivered by email

 

[Signature Pages Follow]

 

    4 

     

    

 

IN WITNESS WHEREOF, the
Assignor, the Assignee and ETRN have executed this Agreement as of the Effective Date.

 

	 	ASSIGNOR:
	 	 
	 	EQT Corporation,
	 	a Pennsylvania corporation
	 	 
	 	By:	 
	 	Name:	David M. Khani
	 	Title:	Chief Financial Officer
	 	Address:   	625 Liberty Ave., Suite 1700
	 	 	Pittsburgh, Pennsylvania 15222

 

     

     

    

 

	 	ASSIGNEE:
	 	 
	 	EQM Midstream Partners, LP,
	 	a Delaware limited partnership
	 	 
	 	By: EQGP Services, LLC, its general partner
	 	 	 
	 	By:	 
	 	Name:	Kirk R. Oliver
	 	Title:	Senior Vice President and Chief Financial Officer
	 	Address:   	2200 Energy Drive
	 	 	Canonsburg, Pennsylvania 15317

 

     

     

    

 

	 	ETRN:
	 	 
	 	EQUITRANS MIDSTREAM CORPORATION,
	 	a Pennsylvania corporation
	 	 
	 	By:	 
	 	Name:	Thomas F. Karam
	 	Title:	Chief Executive Officer
	 	Address:   	2200 Energy Drive
	 	 	Canonsburg, Pennsylvania 15317

 

     

     

    

 

EXHIBIT C

 

Form
of STOCK POWER

 

[Attached]

 

     

     

    

 

Transfer
of Ownership with W-9 Form Page 1 of 2: Current Registration Instructions are located within each section of the form. Please
print clearly. Name of Stock to Be Transferred: 1 2 3 Enter the full name of the stock to be transferred. AST Account Number:
Enter the AST 10-digit numerical account number printed on all account mailings and or original stock certificate(s). Current
Registration: Enter the current registration as it appears on the account(s) to be transferred. 4 + + = *You MUST submit your
original certificate(s) or an Affidavit of Loss with your properly completed documents. Reinvest Dividends (if applicable) When
a transfer involves Dividend Reinvestment Plan (DRIP) shares, if the new owner intends to have the shares remain enrolled in the
company’s reinvestment program, they must check the box next to “Yes” in order to reinvest their dividends.
For more information about DRIP shares, see question 8 in the FAQs section of the At-A-Glance. Yes No Transfer Reason: Check only
one box below. All transfers will be assumed to be gifts if no reason is provided. If we receive documentation (e.g., death certificate)
indicating that the registered shareowner is deceased, the transfer reason will default to death. For more information about your
Transfer Reason, see question 6 in the FAQs section of the At-A-Glance. 5 Gift:Date of Gift: / / Death: Date of Death: / / Cost
Basis Per Share: . USD Private Sale: Date of Sale: / / Cost Basis Per Share: .__ USD No Change of Ownership (please specify):
Date: Daytime Phone #: Email Address: 6 7 Signature of Assigner(s) and Capacity (if applicable): I do hereby irrevocably constitute
and appoint American Stock Transfer & Trust Company, LLC ("AST"), attorney to transfer said stock on the books of
the corporation with full power of substitution in the premises. If the current owner is not signing this Transfer of Ownership
form, the legal representative signing on their behalf must state next to their signature the capacity in which they are authorized
to sign. Such capacity as executor or administrator for a deceased owner; power of attorney; heir, and the like, is to be defined
and proven to the Guarantor in order to obtain a Medallion Signature Guarantee. 8 Medallion Signature Guarantee All signatures
must be Medallion Signature Guaranteed by an eligible Guarantor Institution. No other form of signature verification, including
a notary seal, can be accepted. Not familiar with a Medallion Signature Guarantee? For more information, please see questions
1-2 in the FAQs section of the At-A-Glance. Once you have completed this form, please send it to AST along with any other appropriate
documentation to the address below. > AST | Attention: Transfer Department | 6201 15th Avenue | Brooklyn, NY 11219 PLACE MEDALLION
SIGNATURE GUARANTEE HERE X SIGNATURE CAPACITY X SIGNATURE CAPACITY Total # of Shares # of DRIP Shares # of Book Shares # of Certificated
Shares

 

     

     

    

 

Transfer
of Ownership with W-9 Form Page 2 of 2: New Registration Instructions are located within each section of the form. Please print
clearly. New Registration: Enter full name of the new registration. 9 Type of Registration: Select the registration type. 10 Individual
Transfer on Death (TOD) Name of Beneficiary: Joint Account TrustTrustee: Trust Date: / / Custodian Account Other: Check the box
above that corresponds with the type of registration. Designating the Type of Registration Examples: • • • Joint
Account: “joint tenants” unless otherwise indicated. Trust: include name of trustees, trust title and date. Transfer
on Death (“TOD”): only one beneficiary may be named on a TOD account. Custodian Account: Uniform Transfers to Minors
Act (UTMA) or Uniform Gifts to Minors Act (UGMA) is based on the state (ST) in which the custodianship was created. For more information
on UTMA/UGMA, see question 18 in the FAQs section of the At-A-Glance. • Full Address: Enter the complete address of the new
owner. 11 12 backup withholding. For individuals, this is Exempt Payee S = S Corporation, P = Partnership) The new owner must
sign the Substitute Form W-9. Failure to complete this form will result in backup withholdings per IRS regulations. If the new
account is to be registered to Joint Tenants, use the Taxpayer Identification Number (TIN) of the first owner named on the account.
If you are not a U.S. citizen or do not have a Social Security Number, please use the appropriate Form W-8. Once you have completed
this form, please send it to AST along with any other appropriate documentation to the address below. > AST | Attention: Transfer
Department | 6201 15th Avenue | Brooklyn, NY 11219 Substitute Form W-9 Check the appropriate box: Individual/Sole Proprietor orC
Corporation single-member LLC S CorporationPartnership Limited Liability Company: Trust/Estate Enter the tax classification (C
= C Corporation, Exempt payee code or Exemption from Other: FATCA reporting code (if any) codes appply only to certain entities
not individuals Part I: Taxpayer Identification Number (TIN) Enter your TIN in the box. The TIN provided must match your name
to avoid your Social Security Number (SSN). Part II: Certification Under penalties of perjury, I certify that: 1) the number shown
above is my correct U.S. Taxpayer Identification Number, 2) I am a U.S. citizen, and 3) I am not subject to withholding because:
(a) I am exempt from backup withholding, (b) I have not been notified by the IRS that I am subject to backup withholding as a
result of a failure to report all interest or dividends, or (c) the IRS notified me that I am no longer subject to withholding.
4) The FATCA code(s) entered on this form (if any) indicating that I am exempt from FATCA reporting is correct. XSIGNATURE Date:
Joint Tenants John Smith and Mary Smith JT Ten Tenants in Common John Smith and Mary Smith Ten Com Custodian Account John Smith
Cust Mary Smith UTMA/ST Trust John Smith TTEE John Smith Trust U/A DTD 01/23/2014

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