Document:

Cabot Oil & Gas Corp. Mineral, Royalty and Overriding Royalty Interest Plan

 Exhibit 4.1 
 CABOT OIL & GAS CORPORATION 
 MINERAL, ROYALTY AND OVERRIDING ROYALTY INTEREST PLAN

 This Mineral, Royalty and Overriding Royalty Interest Plan (the “Plan”) sets forth the terms of the program established by
Cabot Oil & Gas Corporation (together with its subsidiaries, the “Company”) for the purchase by designated employees of the Company of a portion of certain mineral, royalty and overriding royalty interests acquired from time to
time by the Company. 
 Purpose 
 The
purpose of the Plan is to provide Participants (as defined below) an opportunity to purchase interests in certain oil and natural gas properties acquired by the Company and thus to encourage the Participants to remain as employees of the Company. A
“Participant” means any employee of the Company whose participation in the Plan is approved by the Compensation Committee of the Board of Directors (the “Committee”), upon the recommendation of the Chief Executive Officer of the
Company (the “CEO”). 
 Purchase of Interests 
 Upon the acquisition by the Company of mineral, royalty and overriding royalty interests (“Company Interests”) in oil and natural gas properties from time to time, the Company may, but shall not be obligated
to, offer to one or more Participants the option to purchase a portion of such Company Interests (the portion subject to the Plan, the “Interests”) for cash at a price determined using the same cost basis as the Company acquired such
Interest. The Participants to be offered Interests in a specified property and the portions of the Company Interests to be so offered shall be approved by the Committee, after receiving the recommendation of the CEO. 
 No more than 50% of any Company Interest (that is, one-half of the net interest acquired by the Company) shall be offered to Participants. It is
generally intended that (1) no more than 25% of any Company Interest be offered to Participants who are employed by the region or other business unit involved in the acquisition by the Company of the Interest and (2) no more than 25% of
any Company Interest be offered to Participants who are employed by the Company’s headquarters/corporate office function (including relevant corporate management and executive officers) and Participants who are in other regions or business
units, although the Committee shall have the flexibility to determine the allocation as it sees fit. 
 Any Participant electing to purchase
an Interest shall pay to the Company the purchase price for such Interest in cash and shall complete and return to the Company any assignment, conveyance and other instruments and documents requested by the Company in connection therewith. Each
Participant shall be responsible for obtaining any financing required to purchase such Participant’s Interest. The Company may, but shall not be obligated to, assist Participants (other than executive officers of the Company) in obtaining such
financing from one or more commercial banks or other financing sources selected by the Company, including by 

 providing guarantees and/or other credit support with respect to loans to be made to such Participants from time to time.
In no event shall the Company assist Participants who are executive officers of the Company in obtaining such financing or otherwise arrange such financing or any other extension of credit for such Participants in connection with the Plan, and shall
not provide any guarantee or other credit support to such Participants. 
 For the avoidance of doubt, the Plan applies only with respect to
mineral, royalty and overriding royalty interests acquired by the Company and does not apply to the acquisition of working interests, notwithstanding that a particular acquisition by the Company of oil and natural gas properties may include both
(1) working interests and (2) mineral, royalty and/or overriding royalty interests. 
 Executive Rights; Company Determinations with Respect to
Interests 
 In connection with any mineral interest that is to be covered by the Plan, the Company will retain all executive rights
related to such mineral interest, including the right to take all actions and to make all judgments with respect to the leasing of such mineral interests to the Company, any of its affiliates or any unaffiliated third parties, and the right to
receive all bonus, rental and shut-in royalty payments under any such leases. After receipt of any bonus, rental or shut-in royalty payment, the Company shall allocate and pay to each Participant such Participant’s pro rata share of such bonus,
rental or shut-in royalty payment paid for or under any lease or leases covering the mineral interest which are entered into subsequent to the effective date of the Participant’s purchase of the mineral interest. Such Participant shall not be
entitled to receive any bonus, rental or shut-in royalty paid for or under any lease or leases covering the mineral interest which were in effect prior to such effective date. 
 The Company shall make any determinations with respect to the acquisition of oil and natural gas properties, and may conduct and carry on, or may
contract for, the exploration, development, maintenance and operation of any such properties, in any manner it so desires, without regard to the participation by Participants in the Plan and without any liability to Participants. In addition, the
Company may transfer and dispose of, and may take or omit to take any other action with respect to, all or any of its Company Interests from time to time in any such manner. For the avoidance of doubt, (a) the Company shall have no obligation
to conduct any drilling operations or take any other action upon or with respect to any property subject to an Interest under the Plan or to continue to operate any well or to operate or maintain in force or attempt to maintain in force any lease
thereon, including by payment of delay rentals, shut-in royalties, compensatory royalties or other payments or by the drilling of any wells upon any such lease, or in any other manner, and the extent and duration of all operations, as well as the
preservation of any such lease by delay rental payments or otherwise, shall be at the sole discretion of the Company, and (b) the Company shall have the right at any time to surrender, abandon or otherwise terminate any such lease in whole or
in part without any liability to Participants. 
 The Company shall make all determinations with respect to the acquisition, exploration,
development, maintenance and operation of any property subject to an Interest under the Plan using the same criteria (or criteria less favorable to the property subject to an Interest) as it would use were such property not subject to such an
Interest (that is, the Company shall not 
  

 2 

 favor properties subject to Interests under the Plan over properties not subject to such Interests when allocating
Company resources in the acquisition, exploration, development, maintenance and operation of its properties). 
 Transfers by Participants 

A Participant may not transfer or dispose of any Interest held by him or her unless such Participant has complied with the provisions of the Plan and
any assignment, conveyance or other instrument or document executed by such Participant in connection with his purchase of such Interest. 
 Except as provided below, a Participant may only transfer or dispose of any Interest (1) with the prior written consent of the Company, which it may withhold in its sole discretion, and (2) after allowing the Company a
preferential purchase right on the following terms. If at any time any Participant desires to transfer or dispose of any Interest held by him, such Participant must first give to the Company written notice thereof stating: (a) the amount of the
Interest offered by such Participant; (b) the form of consideration (which shall be either cash or a promissory note containing reasonable and customary terms) at which such Interest is offered (the “Offered Price”); (c) the name
and address of the proposed transferee from which the Participant has a bona fide offer to purchase the Interest; (d) the proposed time of closing and payment for the Interest; and (e) any other relevant material terms of the proposed
sale. Upon receipt of such notice, the Company will have a right to purchase all or any portion of the offered Interest within 30 days of receipt of such notice at a purchase price equal to the Offered Price or such other price as may be agreed upon
by the Company and the Participant. 
 The restrictions contained in the preceding paragraph shall not apply to a Participant’s transfer
of 100% of such Participant’s Interest to (1) any member of the immediate family of such Participant or (2) any trust or other estate planning entity whose principal beneficiary or beneficiaries are such Participant and/or one or more
members of the immediate family of such Participant; provided that, prior to such transfer, the transferee agrees to be bound in writing by the restrictions on transfer contained herein and in any assignment, conveyance or other instrument or
document executed by such Participant in connection with his purchase of the Interest to be transferred, and that any transfer of interests in any such trust or estate planning entity holding an Interest shall be subject to the same restrictions on
transfer as the Interest so held. 
 Administration 
 The Plan shall be administered by the Committee, which shall have full and exclusive power to interpret the Plan, to determine the Company Interests to be subject to the Plan, the Participants to be offered Interests
in a specified property and the portions of the Company Interests to be so offered and to adopt such rules, regulations and guidelines for carrying out the Plan as it may deem necessary or proper, all of which powers shall be exercised in the best
interests of the Company and in keeping with the objectives of the Plan. Any decision of the Committee in the interpretation and administration of the Plan shall lie within its sole and absolute discretion and shall be final, conclusive and binding
on all parties concerned. No member of the Committee shall be liable for anything done or omitted to be done by him or her or by any other member of the Committee in connection with the performance of any duties under the Plan, except for his own
willful misconduct or as expressly provided by statute. 
  

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 Following the authorization of the offering of an aggregate amount of Interests to Participants, the
Committee may authorize the Chief Executive Officer and/or another executive officer of the Company, or a subcommittee of members of the Board, to approve the offer to individual Participants of Interests from such aggregate Interests pursuant to
such conditions or limitations as the Committee may establish. The Committee may also delegate to the Chief Executive Officer and/or other employees of the Company its administrative duties under this Plan (excluding its offering authority) pursuant
to such conditions or limitations as the Committee may establish. 
 Amendment and Discontinuance 
 The Company may amend, alter or discontinue the Plan at any time without the consent of any Participant, except that no amendment or alteration that would
adversely affect in any material respect the rights or obligations of any Participant with respect to any Interest purchased by such Participant prior to such amendment or alteration shall be made without his consent. 
 Employment Relationship 
 Nothing contained in the
Plan shall impose upon the Company any obligation to maintain any Participant as an employee of the Company and shall not diminish the power of the Company to discharge any Participant at any time. 
 Governing Law 
 The Plan and all determinations made
and actions taken pursuant hereto shall be governed by and construed in accordance with the laws of the State of Texas. The Plan is not qualified under Section 401(a) of the Internal Revenue Code of 1986 and is not subject to the provisions of
the Employee Retirement Income Security Act of 1974. 
 Headings 
 The headings in the Plan are inserted for convenience and identification purposes only and are in no way intended to define or limit the scope, extent or intent of the Plan or any of the provisions hereof. 

Effective Date 
 The effective date of the Plan
shall be May 3, 2006. 
  

 4Form of Conveyance of Mineral and/or Royalty Interest

 Exhibit 4.2 
 Conveyance of Mineral and/or Royalty Interest 
 Effective
[                    ] (the “Effective Date”),
[                    ] (“Assignor”) for and in consideration of good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, does hereby assign, transfer, grant and convey to
[                                        ]
(“Assignee”), its successors and assigns, as of the Effective Date at 12:01 a.m. (local time), an interest (the “Conveyed Interest”) in and to each of the mineral and/or royalty interests described on
Exhibit ”A” attached hereto and made a part hereof (the “Interests”) equal to [            ] percent ([    ]%) of Assignor’s
right, title and interest in the Interests which were acquired by Assignor by virtue of the assignments and/or conveyances set forth on Exhibit “A” attached hereto and by this reference made a part hereof (the “Instruments”).
This Conveyance is subject to the terms and conditions of the Cabot Oil & Gas Corporation Mineral, Royalty and Overriding Royalty Interest Plan (the “Plan”) and the terms and conditions of the Instruments. In the event of a
conflict between the terms of this Conveyance and the terms of the Plan, the terms of the Plan shall control. 
 The Conveyed Interest shall be paid in
accordance with and in the same manner as the terms and provisions of the assignments and conveyances in the chain of title out of which the Conveyed Interest arises. 
 Assignor retains all executive rights related to the Conveyed Interest, including the right to take all actions and to make all judgments and decisions with respect to the leasing of the Conveyed Interest (whether to
Assignor, affiliates of Assignor or any unaffiliated third parties). Assignor retains the right to receive all bonus, rental and shut-in royalty payments under any such leases on behalf of Assignee, to the extent Assignee is entitled to have such
payments allocated to it as set out below. Assignor shall have no obligation to lease the Conveyed Interest and the granting of any lease by Assignor shall be on such terms as Assignor, in its sole discretion, deems acceptable. Although all bonus,
rental and shut-in royalties shall be received by Assignor, Assignor agrees to later allocate and distribute to Assignee based on Assignee’s percentage ownership of the Conveyed Interest Assignee’s proportionate share of all bonus, rental
and shut-in royalties paid for or under any lease or leases covering the Conveyed Interest which are entered into subsequent to the Effective Date, but only if the affected Conveyed Interest is a mineral interest. This Conveyance is made subject to
any valid and subsisting oil and/or gas leases in force and of record (if any). This Conveyance shall not entitle Assignee to receive any bonus, rental or shut-in royalty paid for or under any lease or leases covering the Conveyed Interest which
were in effect prior to the Effective Date. Assignee shall be responsible for and bear all ad valorem, production, and severance taxes chargeable against the Conveyed Interest, provided that all such taxes shall be paid for Assignee by Assignor out
of the production attributable to Assignee’s interest. 
 If Assignor owns a working interest, or similar interest, in any properties out of which the
Interests or Conveyed Interest are derived, or elects to develop such properties on an unleased basis, Assignor may conduct and carry on, or may contract for, the exploration, development, maintenance and operation of any such properties, in any
manner it so desires, without regard to the Conveyed Interest and without any liability to Assignee. In addition, Assignor may transfer 
  

					
	Conveyance of Mineral Interest	 		 	

 and dispose of, and may take or omit to take any other action with respect to, all or any of its Interests from time to
time in any such manner. For the avoidance of doubt, (a) Assignor shall have no obligation to conduct any drilling operations or take any other action upon or with respect to any property subject to the Conveyed Interest or lands pooled
therewith, or to continue to operate any well or to operate or maintain in force or attempt to maintain in force any lease thereon, including by payment of delay rentals, shut-in royalties, compensatory royalties or other payments or by the drilling
of any wells upon any such lease, or in any other manner, and the extent and duration of all operations, as well as the preservation of any such lease by delay rental payments or otherwise, shall be at the sole discretion of Assignor, and
(b) Assignor shall have the right at any time to surrender, abandon or otherwise terminate any such lease in whole or in part without any liability to Assignee. 
 Assignor shall make all determinations with respect to the exploration, development, maintenance and operation of any property subject to the Conveyed Interest using the same criteria (or criteria less favorable to
the property subject to the Conveyed Interest) as it would use were such property not subject to the Conveyed Interest (that is, Assignor shall not favor properties subject to the Conveyed Interest over properties not subject to the Conveyed
Interest when allocating Assignor’s resources in the exploration, development, maintenance and operation of its properties). 
 Assignee grants Assignor
the right, without further approval by Assignee, to pool the Conveyed Interest, or portions thereof, with other lands or leases to form one or more pooled units. As to each pooled unit so created, the interest attributable to Assignee shall be
reduced in accordance with the terms of any applicable lease, pooling agreement or unit agreement. 
 This Conveyance is made subject to any recorded and/or
unrecorded easements, rights-of-way, agreements, conveyances, encumbrances or burdens of any kind whatsoever. 
 This Conveyance shall inure to the benefit
of and be binding on the parties and their respective heirs, legal representatives, successors and permitted assigns. Except as provided below, Assignee may only transfer or dispose of all or any portion of the Conveyed Interest (1) with the
prior written consent of Assignor, which it may withhold in its sole discretion, and (2) after allowing Assignor a preferential purchase right on the following terms. If at any time Assignee desires to transfer or dispose of all or any portion
of the Conveyed Interest, Assignee must first give to Assignor written notice thereof stating: (a) the amount of the Conveyed Interest offered by Assignee; (b) the form of consideration (which shall be either cash or a promissory note
containing reasonable and customary terms) at which the Conveyed Interest is offered (the “Offered Price”); (c) the name and address of the proposed transferee from which Assignee has a bona fide offer to purchase the Conveyed
Interest; (d) the proposed time of closing and payment for the Conveyed Interest; and (e) any other relevant material terms of the proposed sale. Upon receipt of such notice, Assignor will have a right to purchase all or any portion of the
offered Conveyed Interest within 30 days of receipt of such notice at a purchase price equal to the Offered Price or such other price as may be agreed upon by Assignor and Assignee. 
 The restrictions contained in the preceding paragraph shall not apply to Assignee’s transfer of 100% of the Conveyed Interest to (1) any member of the immediate family of Assignee or (2) any trust or
other estate planning entity whose principal beneficiary or beneficiaries are Assignee 
  

					
	Conveyance of Mineral Interest	 	2	 	

 and/or one or more members of the immediate family of Assignee; provided that, prior to such transfer, the transferee
agrees to be bound in writing by the restrictions on transfer contained herein or in any assignment, conveyance or other interest or document executed by Assignee in connection with Assignee’s purchase of the Conveyed Interest, and that any
transfers of interests in such trust or estate planning entity holding the Conveyed Interest shall be subject to the same transfer restrictions as the Conveyed Interest. Assignee’s heirs, legal representatives, successors and permitted assigns
shall be bound by and comply with said transfer restrictions. 
 Assignor makes no, and disclaims any, warranty of title or otherwise as to the Conveyed
Interest. Assignee accepts the Conveyed Interest without warranty of title or otherwise. Assignor makes no, and disclaims any, warranty of any kind, express or implied, as to the accuracy or completeness of any data, information or estimates
provided to Assignee by Assignor. Assignor makes no, and disclaims any, warranty of any kind, express or implied, as to the condition of any equipment, materials or facilities associated with the Interests (or with any properties out of which the
Interests or the Conveyed Interest are derived), including without limitation any warranty as to merchantability or fitness for a particular purpose. Assignee acknowledges such disclaimers. 
 This Conveyance shall be construed in accordance with, and enforced under, the laws of the State of
[            ], without regard to choice of law rules of any jurisdiction, including [            ]. 
 Assignor and Assignee have executed this Conveyance as of the Effective Date. 
  

							
	ASSIGNOR	 	ASSIGNEE
		
	[                                ]	 	
				
	By: 	 	  
	 	By:	 	  

	Name:	 	  
	 	Name:	 	  

	Title:	 	  
	 		 	

  

					
	Conveyance of Mineral Interest	 	3	 	

 ACKNOWLEDGMENTS 
  

					
	STATE OF [            ]	 	§	  	
		 	§	  	
	COUNTY OF [                    ]	 	§	  	

 On this      day of
[                    ], this instrument was acknowledged before me by
                                        
            ,
[                                        
            ] of [                    ]. 
  

							
		 		  		  	  

		 		  		  	Notary Public in and for the State of [            ]
	My Commission Expires:	 		  		  	
			
	  
	  		  	
				
	STATE OF [            ]	 	§	  		  	
		 	§	  		  	
	COUNTY OF [                    ]	 	§	  		  	

 On this      day of
[                    ], this instrument was acknowledged before me by
                                        
            ,
[                                        
            ] of [                    ]. 
  

							
		 		  		  	  

		 		  		  	Notary Public in and for the State of [            ]
	My Commission Expires:	 		  		  	
			
	  
	  		  	

  

					
	Conveyance of Mineral Interest	 	4	 	

 Exhibit “A” 
 to 
 Conveyance of Mineral and/or Royalty Interest 
  

					
	Conveyance of Mineral Interest	 	5

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