Document:

Employment Agreement dated June 15, 2010

 Exhibit 10.6 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT 

This AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Agreement”) dated as of June 15, 2010, is entered into by and
between QEP Resources, Inc., a Delaware corporation (the “Company”), Questar Corporation, a Utah corporation (“Questar”), and Richard J. Doleshek (“Executive”). 

WHEREAS, the Board of Directors of Questar has determined that it is appropriate, desirable and in the best interests of Questar and its
stockholders to separate Questar into two separate, independent and publicly traded companies (the “Separation”): (i) one comprising the exploration and production business, which shall be owned and conducted, directly or indirectly,
by the Company, and (ii) one comprising the utility business, which shall continue to be owned and conducted, directly or indirectly, by Questar; 

WHEREAS, Questar and the Company have entered into that certain Separation and Distribution Agreement (the “Separation
Agreement”), setting forth the terms pursuant to which the Company shall be separated from Questar; 
 WHEREAS, Executive
previously entered into an Employment Agreement dated as of May 7, 2009 with Questar (the “Questar Employment Agreement”); 

WHEREAS, the Company desires Executive to serve the Company as its Executive Vice President, Chief Financial Officer and Treasurer upon
the terms and subject to the conditions set forth in this Agreement; 
 WHEREAS, the parties hereto acknowledge and agree that
the Questar Employment Agreement, and all of Executive’s rights and interest therein and thereunder, are hereby cancelled and terminated upon the effectiveness of this Agreement, in consideration of the parties hereto entering into this
Agreement; 
 WHEREAS, in consideration of, and as a material inducement to, Questar and the Company’s entrance into the
Separation Agreement and consummation of the “Distribution” (as such term is defined in the Separation Agreement), the Company and Executive desire that this Agreement take effect upon the Distribution, and upon its effectiveness,
supersede and replace the Questar Employment Agreement in its entirety; and 
 WHEREAS, this Agreement will become effective
only if the Distribution occurs. 

 NOW, THEREFORE, IN CONSIDERATION of the premises and the mutual covenants set forth herein,
and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties hereby agree as follows: 

ARTICLE 1 

DEFINITIONS 

The terms set forth below have the following meanings: 

Agreement Date means the first day immediately following the date of the Distribution. 

Anniversary Date means any annual anniversary of the Agreement Date. 

Bifurcated Equity Grants means any stock options or restricted stock granted to Executive while Executive was employed under the
Questar Employment Agreement, which grants were bifurcated and award agreements amended pursuant to that certain Employee Matters Agreement by and between Questar and Company, dated as of June 14, 2010. 

Board means the Board of Directors of the Company. 

Cause means any of the following: with respect to Executive’s termination of employment means any of the following:
(1) Executive’s conviction or plea of nolo contendre to a felony or a misdemeanor involving moral turpitude, (2) Executive’s engaging in an act of fraud, theft, embezzlement or willful misappropriation of the property of the
Company; (3) Executive engaging in an act of dishonesty that causes a substantial detriment to the Company or its Subsidiaries; (4) Executive’s violation of any Company policy or practice regarding discrimination or harassment that
would be grounds for termination of any other Company employee; (5) Executive’s willful failure to perform substantially the duties as contemplated by this Agreement (other than such failure resulting from incapacity resulting from mental
or physical illness); and (6) Executive’s willful or intentional material breach of this Agreement that results in financial detriment that is material to the Company and its Subsidiaries taken as a whole. 

For purposes of clause (6) of the preceding sentence, Cause shall not include any one or more of the following: bad judgment,
negligence, or any act or omission that Executive believed in good faith to have been in or not opposed to the interest of the Company (without intent of Executive to gain, directly or indirectly, a profit to which he was not legally entitled).

 Except for termination for Cause based on clauses (1) or (2) above, the Company may not terminate Executive’s
employment for Cause unless it has: (1) officially given Executive written notice at least 30 days prior to the Date of Termination of its intent to terminate Executive’s employment, which written notice shall contain a detailed
description of the specific reasons that form the basis for such action; (2) provided Executive an opportunity to appear before the Board prior to the Date of Termination to present arguments on his own behalf; and (3) received the
affirmative vote of at least two-thirds of the members of the Board that it is proper to terminate Executive’s employment for Cause. Pending the final resolution of any disputes concerning Executive’s termination of employment for Cause,
the Board my suspend Executive with pay. 
 Committee means the Compensation Committee of the Board. 

Common Stock means the common stock of the Company. 
  

 2 

 Company means QEP Resources, Inc. on a consolidated basis, or the ultimate parent
corporation of the acquiring or surviving company in the case of an acquisition, merger, consolidation, etc. involving QEP Resources, Inc. 

Conversion Awards means restricted stock granted under the 2010 Long-Term Stock Incentive Plan or under the Questar Corporation
Long-Term Stock Incentive Plan issued in exchange for a cash award under the Questar Corporation Long-Term Cash Incentive Plan for the 2009-2011 and 2010-2012 performance periods. 

Date of Termination means the effective date of a Termination of Employment for any reason, including death or Disability, whether
initiated by the Company or by Executive. 
 Disability means a condition that renders Executive unable to engage in any
substantial, gainful activity by reason of any medically-determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve months. The foregoing definition
of “Disability” shall be interpreted in a manner consistent with Section 409A of the Code and the Internal Revenue Service and Treasury guidance thereunder. 

Good Reason with respect to Executive’s termination of employment means any of the following events or conditions which occur
without Executive’s written consent and which remain in effect after notice has been provided by Executive to the Company of such event or condition and the expiration of a 30 day cure period: (i) a material diminution in Executive’s
base compensation; (ii) a material diminution in Executive’s authority, duties, or responsibility; (iii) a material change in the geographic location at which Executive performs services; or (iv) any other action or inaction that
constitutes a material breach by the Company or its Subsidiaries of this Agreement. Executive’s notification to the Company must be in writing and must occur within a reasonable period of time, not to exceed 90 days, following Executive’s
discovery of the relevant event or condition. Any reasonable determination by Executive that any of the specified events has occurred and constitutes Good Reason shall be conclusive and binding for all purposes. 

Notwithstanding the above, it shall not constitute Good Reason if, at any time during the term of this Agreement, Company assigns this
Agreement to any entity that is “spun off” or “split off” from Company, and such entity expressly assumes the obligations of Company under this Agreement. 

Subsidiary means any entity of which the Company, directly or indirectly, owns at least 50 percent of the outstanding shares of
capital stock or any partnership interest entitled to vote for the election of directors. 
 Termination Without Cause
means a Termination of Employment by the Company for any reason other than Cause or Executive’s death or Disability. 
  

 3 

 ARTICLE 2 

DUTIES 

The Company shall employ Executive during the term of this Agreement as its Executive Vice President and Chief Financial Officer,
reporting to the President and Chief Executive Officer, subject to all Company policies and procedures in effect from time to time as amended in the discretion of Company. Executive, during the term of this Agreement, shall devote substantially all
of his business time, attention, and effort to the performance of services to Company in his capacity as Executive Vice President and Chief Financial Officer and to the affairs of the Company and shall use his reasonable efforts to promote the best
interests of the Company. Executive shall perform the services required by this Agreement at the Company’s present principal place of business or at such other location(s) as may be mutually agreed by Company and Executive; provided, however,
that Company may from time to time require Executive to travel temporarily to other locations on Company business consistent with the business needs of Company. 

ARTICLE 3 

TERM OF EMPLOYMENT AGREEMENT 

Subject to earlier termination in accordance with Article 7, this Agreement shall begin on the Agreement Date and end on the Anniversary
Date that is three years after such Agreement Date (the “Employment Term”). Upon expiration of the Employment Term, Executive’s continued employment with Company shall be on an “at will” basis. 

ARTICLE 4 

COMPENSATION 

4.1 Salary. The Company shall pay Executive an annual base salary of $470,000 payable in semi-monthly installments (“Base
Salary”). The Committee shall review Executive’s Base Salary when it reviews the base salaries paid to the Company’s other executive officers each year. For the term of this Agreement, the Committee may not reduce Executive’s
Base Salary. Effective as of the date of any such increase in Executive’s Base Salary, the Base Salary shall be considered the new Base Salary for all purposes of this Agreement and may not thereafter be reduced. Any increase in Base Salary
shall not limit or reduce any other obligation of the Company to Executive under this Agreement without Executive’s written consent. 

4.2 Annual Bonus Plans. Executive shall be nominated to participate in the Company’s annual bonus plans, including the Annual
Management Incentive Plan II (“AMIP II”), for each performance period established during the term of this Agreement and shall have an aggregate target bonus under such plans equal to at least 90 percent of his base salary (“Target
Bonus”). The annual minimum, target, and maximum performance goals for the Company and its principal Subsidiaries shall be approved by the Committee within 90 days after the beginning of the performance period. The Committee can only increase,
not reduce, Executive’s target bonus under AMIP II. 
  

 4 

 4.3 Other Bonus Programs. Executive shall be nominated to participate in the
Company’s Long-Term Cash Incentive Plan with a target bonus of not less than $500,000, and any additional incentive compensation program adopted by the Committee or the Board for the Company’s officers. 

ARTICLE 5 

STOCK OPTIONS, RESTRICTED 

STOCK AND STOCK OWNERSHIP 

5.1 Equity Grants. Executive shall be granted stock options, restricted stock awards, stock appreciation rights, performance
shares, or other equity-based compensation pursuant to the Company’s 2010 Long-Term Stock Incentive Plan as determined by the Committee in its sole and absolute discretion. 

5.2 Stock Ownership. The Company requires all officers to own shares of the Company’s common stock. Executive is expected to
acquire on or before the Fifth Anniversary Date of the Agreement Date (and retain throughout the term of this Agreement) shares of the Company’s common stock (including phantom stock units) having a value equal to at least three times his
annual Base Salary. In determining compliance with this requirement, Executive’s unvested restricted stock will be treated as owned, however unvested stock options will not be treated as owned. This shareholding requirement shall be subject to
any policies and procedures adopted by the Company’s Board of Directors applicable to all other Company executives with shareholding requirements. Executive cannot sell shares of common stock other than to satisfy tax obligations associated
with recognizing income in conjunction with stock distributions or stock options without advance notice to the Company’s President and Chief Executive Officer. 

ARTICLE 6 

OTHER BENEFITS 

6.1 Qualified Retirement Plans. During the term of this Agreement, Executive shall be entitled to participate in the
Company’s qualified retirement plans (including defined benefit and defined contribution plans) sponsored by the Company in accordance with the terms of such plans; provided, however that Executive will not be eligible to accrue any additional
benefits under the Company’s defined benefit plan on and after the Agreement Date, but will instead receive additional benefits under the Company’s nonqualified supplemental executive retirement plan to compensate him for any loss of
additional benefits accrued under the defined benefit plan from the Agreement Date until the Date of Termination. 
 6.2
Welfare Benefit Plans. During the term of this Agreement, Executive shall be eligible to participate in the welfare benefit plans and programs (including health, life insurance, catastrophe accident, cafeteria, and short-term and long-term
disability) sponsored by the Company in accordance with the terms of such plans. 
 6.3 Paid Time Off. During the term of
this Agreement, Executive shall be entitled to paid time off (PTO) in accordance with the Company’s general rules for PTO, except that Executive shall accrue 264 hours per year (22 hours per month). 

 

 5 

 6.4 Nonqualified Benefit Plans. During the term of this Agreement, Executive shall be
eligible to participate in the Company’s optional nonqualified plans such as the Company’s deferred compensation plan(s), and any component programs and the supplemental executive retirement plan. 

6.5 Change in Control. Executive shall be nominated to participate in the Company’s Executive Severance Compensation Plan
(Executive Severance Plan), which is a change in control severance plan. In the event of Executive’s Termination of Employment following a “Change in Control” as defined in the Executive Severance Plan, Executive shall be entitled to
the greater of the payment due him under the Executive Severance Plan or under Article 7 of this Agreement, but not under both. 

6.6 Other Benefits. During the term of this Agreement, Executive shall be entitled to participate in any special programs adopted
for the Company’s officers. 
 6.7 Other Expenses. During the term of this Agreement, Executive shall be entitled to
receive prompt reimbursement for all reasonable employment-related expenses incurred by him and approved in accordance with the Company’s standard policies. The amount of expenses eligible for reimbursement in Executive’s taxable year may
not affect the expenses for reimbursement in any other taxable year. 
 ARTICLE 7 

TERMINATION OF EMPLOYMENT 

7.1 Termination for Cause. If the Company terminates Executive’s employment for Cause, the Company shall only be required to
pay Executive any earned but unpaid Base Salary and any accrued but unused PTO (the “Accrued Obligations”). 
 7.2
Termination for Death or Disability. If Executive’s employment terminates during the term of this Agreement due to his death or Disability, Executive shall be entitled to the following: 

(a) The Company will pay to Executive’s beneficiaries (in the event of his death), or to Executive (in the event of his Disability),
the Accrued Obligations, plus an amount equal to: 
  

	 	i.	Executive’s Base Salary through the end of the month following the month in which his death or Disability occurred; 

 

	 	ii.	Executive’s target bonus under the annual cash bonus plans maintained by the Company for the year in which he died or became disabled; provided however, that in
the event that the Committee or Board has yet to establish Executive’s target bonus under the annual cash bonus plans for such year, Executive’s target bonus shall be deemed to be equal to his target bonus under the annual cash bonus plans
for the immediately preceding year; and. 

  

	 	iii.	 The pro-rated portion of Executive’s target bonus under the Company’s Long-Term Cash Incentive Plan for each separate performance period that
is 

  

 6 

	 	 
outstanding as of the date of death or Disability; (including any performance period still in existence under the Questar Long-Term Cash Incentive Plan); provided, however, that in the event that
the Committee or Board has yet to establish Executive’s target bonus under the Long-Term Cash Incentive Plan for the separate performance period beginning in the year in which Executive died or became disabled, Executive’s target bonus for
such performance period shall be deemed to be equal to the target bonus established under the Long-Term Cash Incentive Plan for the performance period beginning in the immediately preceding year. 

Any payments received under this Agreement due to death or Disability shall be in lieu of payments otherwise due Executive on account of
death or Disability under the terms of any annual cash bonus, and Executive hereby waives his rights to any such payments. 

Amounts payable under this Section 7.2(a) will be paid in a cash lump sum, subject to applicable withholdings, within 30 days of the
Date of Termination. 
 (b) Any Bifurcated Equity Grants shall vest in accordance with the terms of such grants with any vested
options exercisable by Executive (or his estate in the event of his death) in accordance with the terms of such option agreements. Any grants of restricted stock, options to purchase shares of the Company’s common stock, stock appreciation
rights, or other equity-based awards (“Equity Grants”) made to Executive under this Agreement on or following the Agreement Date, and any Conversion Awards, shall vest in the event of Executive’s death or Disability. 

7.3 Termination Without Cause. If the Company terminates Executive’s employment during the term of this Agreement for some
reason other than Cause, death or Disability, Executive will be entitled to the following: 
 (a) The Company shall pay
Executive the Accrued Obligations, plus an amount (the “Involuntary Severance Amount”) equal to: 
  

	 	i.	Three times Executive’s Base Salary; and 

  

	 	ii.	Three times the annual cash bonus(es) Executive actually received under the Company’s annual bonus plan(s) as set forth in Section 4.2 (including, where
applicable, any annual bonus plan(s) while Executive was employed under the Questar Employment Agreement) in the year immediately prior to the Date of Termination. For the avoidance of doubt, annual bonus plan(s) does not include any payment under
the Company’s or Questar’s Long-Term Cash Incentive Plan (except that Executive shall receive accelerated vesting of the Conversion Awards set forth below). 

Amounts payable under this subsection 7.3(a) will be paid in a cash lump sum, subject to applicable withholdings, within 30 days of the
Date of Termination. 
  

 7 

 (b) Any Bifurcated Equity Grants shall vest in accordance with the terms of such grants due
to a Termination without Cause. Any Equity Grants made to Executive under this Agreement on or following the Agreement Date, and any Conversion Awards, shall vest in full on Executive’s Date of Termination. 

The parties hereto acknowledge and agree that expiration of the Employment Term by itself shall not be deemed to constitute a termination of
Executive’s employment by the Company for some reason other than Cause or otherwise entitle Executive to any payments or benefits under this Section 7.3. Except for the Accrued Obligations, Executive shall not be entitled to any payments
or benefits under this Section 7.3. after the expiration of the Employment Term. 
 7.4 Termination by Executive.
Executive can terminate his employment for any reason provided that he gives the Board written notice at least 30 days’ prior to his Date of Termination. 

(a) If Executive terminates his employment for reasons other than Good Reason, the Company shall, within 30-days of the Date of
Termination or any earlier time required by law, pay Executive only the Accrued Obligations. 
 (b) If Executive terminates his
employment for Good Reason, the Company shall pay Executive the Accrued Obligations, plus the Involuntary Severance Amount. Such amounts will be paid in a cash lump sum, subject to applicable withholdings, within 30 days of the Date of Termination.
Any Bifurcated Equity Grants shall vest in accordance with the terms of such grants due to a Termination by Executive for Good Reason. Any Equity Grants made to Executive under this Agreement on or following the Agreement Date, and any Conversion
Awards, shall vest in full on an accelerated basis on Executive’s Date of Termination. The parties hereto acknowledge and agree that expiration of the Employment Term by itself shall not be deemed to constitute a termination of Executive’s
employment by Executive for Good Reason or otherwise entitle Executive to any payments or benefits under this Section 7.4(b). Except for the Accrued Obligations, Executive shall not be entitled to any payments or benefits under this
Section 7.4(b) after the expiration of the Employment Term. 
 7.5 Payments Conditioned on Release of Claims.
Receipt of any payments or benefits under this Article 7, other than the Accrued Obligations, shall be contingent upon Executive’s execution of a legal release in a form satisfactory to the Company, in its sole discretion, drafted so as to
ensure (i) a final, complete and enforceable release of all claims that Executive has or may have against the Company (and its Subsidiaries, officers, agents, employees, or assigns) relating to or arising in any way from Executive’s
employment with the Company and/or the termination thereof, and (ii) Executive’s continued compliance with his obligations under Article 8 of this Agreement. 

7.6 409A Payment and Ordering Rules. Payments under this Article 7 are intended to qualify to the maximum extent possible as
“short-term deferrals” exempt from the application of Code Section 409A. Any payments that do not so qualify are intended to qualify for the Code Section 409A exemption set forth in Treasury Regulation
Section 1.409A-1(b)(9)(iii) (which exempts from Code Section 409A certain payments made upon an “involuntary separation from service”). Any payments under this Article 7 that are not exempted from Code Section 409A

  

 8 

 
and that are payable prior to the date that is six months and one day after the date of termination (the “Deferred Payment Date”) shall be withheld by the Company and paid to Executive
on the Deferred Payment Date or as soon thereafter as is administratively feasible. Nothing in this paragraph shall prohibit the Company and Executive from making use of any other Code Section 409A exemption that may be applicable to a payment
or benefit hereunder. 
 ARTICLE 8 

RESTRICTIVE COVENANTS 

8.1 Non-Solicitation of Employees. During the two-year period immediately following the Date of Termination, Executive shall not
directly or indirectly employ or seek to employ any employees of the Company or its Subsidiaries and shall not entice or otherwise encourage any such employee to leave such employment. 

8.2 Confidentiality. During the term of this Agreement, Executive shall maintain the confidential nature of information concerning
the Company’s financial results and business strategies and shall not disclose such information to any person whose interests are or may be adverse to the Company’s interests or any person that may use such information to obtain personal
financial gain. 
 After a termination of employment for any reason, Executive shall not, without prior written consent of the
Company or as may otherwise be required by law or legal process, communicate or divulge to anyone other than the Company and its designees any confidential or secret knowledge or information of the Company or its Subsidiaries that Executive has
acquired or become acquainted with during the period of Executive’s employment by the Company, whether developed by himself or by others, concerning any trade secrets, confidential or business plans or material (whether or not patented or
patentable) directly or indirectly useful in any aspect of the business of the Company or its Subsidiaries, any confidential or secret development of the Company or its Subsidiaries, or any other confidential information or secret aspects of the
business of the Company or its Subsidiaries (collectively, “Confidential Information”). At the time of the termination of Executive’s employment, or at such other time as the Company may request, Executive shall return all memoranda,
notes, plans, records, computer tapes and software and other documents and data (and copies thereof) relating to Confidential Information that Executive may then possess or have under his control. 

8.3 Injunction. Executive acknowledges that monetary damages will not be an adequate remedy for the Company in the event he
breaches the provisions of this Article. Consequently, Executive agrees that the Company is entitled to an injunction to prevent Executive from any breach of the provisions of this Article in addition to other rights that the Company may have.

 ARTICLE 9 

SUCCESSOR TO COMPANY 

This Agreement shall bind any successor to the Company, its assets or its businesses (whether direct or indirect, by purchase, merger,
consolidation or otherwise), in the same manner and to the same extent that the Company would be obligated under this Agreement if no succession had taken place. 

 

 9 

 In the case of any transaction in which a successor would not by the foregoing provision or
by operation of law be bound by this Agreement, the Company shall require such successor expressly and unconditionally to assume and agree to perform the Company’s obligations under this Agreement, in the same manner and to the same extent that
the Company would be required to perform if no such succession had taken place. In the event that a successor fails to expressly and unconditionally assume and agree to perform the Company’s obligations under this Agreement, such failure shall
be deemed to be a material breach of this Agreement. 
 ARTICLE 10 

MISCELLANEOUS 

10.1 Beneficiary. If Executive dies prior to receiving all of the amounts payable to him in accordance with the terms of this
Agreement, such amounts shall be paid to one or more beneficiaries designated by Executive in writing to the Company during his lifetime, or if no such beneficiary is designated, to the beneficiary(ies) designated by Executive (or deemed by law to
be designated) under QEP Resources, Inc.’s Employee Investment Plan. Executive, without the consent of any prior beneficiary, may change his designation of beneficiary or beneficiaries at any time or from time to time by submitting to the
Company a new designation in writing, which shall not be effective until receipt by the Company. 
 10.2 Assignment
Successors. Except as provided above in Article 9, the Company may not assign its rights and obligations under this Agreement without the prior written consent of Executive. This Agreement shall be binding upon and inure to the benefit of
Executive, his estate and Beneficiaries, the Company and the successors and permitted assigns of the Company. 
 10.3 Good
Faith. During the term of this Agreement, Executive shall notify the Company’s President and Chief Executive Officer of the Company if he is being seriously considered for a senior management position with another entity. 

10.4 Nonalienation. Benefits payable under this Agreement shall not be subject in any manner to anticipation, alienation, sale,
transfer, assignment, pledge, encumbrance, charge, garnishment, execution of levy of any kind, either voluntary or involuntary, prior to actually being received by Executive or a beneficiary, as applicable, and any such attempt to dispose of any
right to benefits payable hereunder shall be void. 
 10.5 Arbitration. To the extent permitted by applicable law, any
dispute under this Agreement shall be settled by arbitration in Denver, Colorado pursuant to the Commercial Rules then in effect of the American Arbitration Association. In the event that any dispute arising out of this Agreement may not be
arbitrated under applicable law (which, for purposes of this Agreement, shall be deemed to include actions for temporary injunctive relief to enforce the provisions of Article 8 hereof), litigation concerning such dispute shall be brought and
maintained only in the state or federal courts having jurisdiction in Denver, Colorado. The Company and its successors shall reimburse Executive for any legal expenses and arbitration expenses that he may reasonably incur pursuant to this clause in
the event that he prevails in any such dispute. 
  

 10 

 10.6 Severability. If one or more parts of this Agreement are declared by any court
or governmental authority to be unlawful or invalid, such unlawfulness or invalidity shall not invalidate any part of this Agreement not declared to be unlawful or invalid. Any part so declared to be unlawful or invalid shall, if possible, be
construed in a manner which will give effect to the terms of such part to the fullest extent possible while remaining lawful and valid. 

10.7 409A Savings Clause. The parties intend that payments or benefits payable under this Agreement not be subject to the
additional tax imposed pursuant to Section 409A of the Code, and the provisions of this Agreement shall be construed and administered in accordance with such intent. To the extent such potential payments or benefits could become subject to Code
Section 409A, the parties shall cooperate to amend this Agreement with the goal of giving Executive the economic benefits described herein in a manner that does not result in such tax being imposed. If the parties are unable to agree on a
mutually acceptable amendment, the Company may, without Executive’s consent and in such manner as it deems appropriate or desirable, amend or modify this Agreement or delay the payment of any amounts hereunder to the minimum extent necessary to
meet the requirements of Code Section 409A. 
 10.8 Amendment/Waiver. This Agreement shall not be amended or
modified except by written instrument executed by the Company and Executive. A waiver of any term, covenant or condition contained in this Agreement shall not be deemed a waiver of any other term, covenant or condition, and any waiver of any default
in any such term, covenant or condition shall not be deemed a waiver of any later default thereof. 
 10.9 Notices. All
notices hereunder shall be in writing and delivered by hand, by nationally-recognized delivery service that guarantees overnight delivery, or by first-class, registered or certified mail, return receipt requested, postage prepaid, addressed as
follows: 
  

			
	If to the Company, to	  	QEP Resources, Inc.
		  	Independence Plaza
		  	 1050 17th St, Suite 500

Denver, CO 80265-1050

		  	Attention: General Counsel
		
	If to Questar, to	  	Questar Corporation
		  	180 East 100 South
		  	Salt Lake City, UT 84111
		  	Attention: General Counsel
		
	If to Executive, to:	  	Executive at his last known address on the Company’s records.

Either party may from time to time designate a new address by notice given in accordance with this Section. Notice shall be effective (a) upon
receipt by addressee when hand-delivered; (b) the next business day or day designated for delivery if by overnight delivery; (c) the fifth day after deposit in the United States mail if sent by first-class, registered or certified mail.

  

 11 

 10.10 Counterparts and Facsimile Signatures. This Agreement may be executed in
several counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument. A facsimile signature may be accepted as an original signature. 

10.11 Entire Agreement. Except as provided elsewhere herein and except for the other documents and agreements contemplated in
accordance herewith, this Agreement sets forth the entire agreement of the parties with respect to its subject matter and supersedes all prior agreements, promises, covenants, arrangements, communications, representations or warranties, whether oral
or written, by any officer, employee or representative of any party to this Agreement with respect to such subject matter, including, without limitation the Questar Employment Agreement. 

10.12 Applicable Law. This Agreement shall be interpreted and construed in accordance with the laws of the state of Colorado,
without regard to its choice of law principles. 
 10.13 Survival of Executive’s Rights and Obligations. All of
Executive’s rights and obligations shall survive Executive’s Termination of Employment and/or the termination of this Agreement. 

10.14 Effectiveness. This Agreement shall become effective upon the Distribution Date. Notwithstanding anything contained herein,
in the event that the Separation Agreement is terminated or the Distribution otherwise does not occur for any reason, this Agreement shall automatically, and without notice, terminate without any obligation due to any party and the provisions of
this Agreement shall be of no force or effect. 
 10.15 Termination of Questar Employment Agreement. Executive hereby
resigns from his position as an officer, employee and/or director of Questar, including, without limitation, Executive’s position as a member of the Questar Employee Benefits Committee, and Questar hereby accepts such resignation, effective as
the Distribution Date. Executive acknowledges and agrees that he will have no further duties or responsibilities and no further authority on behalf of Questar after the Distribution Date, other than as specifically set forth herein. Executive and
Questar agree that the Questar Employment Agreement shall terminate and shall cease to be of further force or effect upon the Distribution Date and that such termination shall not constitute a Termination of Employment or a Change of Control under
the Questar Employment Agreement. Executive agrees to waive and release any and all rights, claims, costs, expenses or damages under the Questar Employment Agreement. Equity granted to Executive under the Questar Employment Agreement will be
adjusted pursuant to the Employee Matters Agreement and shall continue to vest according to its terms. 
 [Signature Page
Follows] 
  

 12 

 IN WITNESS WHEREOF, the parties have executed this Agreement on the date first above written. 

 

			
	QEP RESOURCES, INC.
		
	By:	 	 /s/ Charles B. Stanley

		 	Charles B. Stanley
		 	President and Chief Executive Officer
	
	EXECUTIVE
	
	 /s/ Richard J. Doleshek

	Richard J. Doleshek
	
	QUESTAR CORPORATION
		
	By:	 	 /s/ Keith O. Rattie

		 	Keith O. Rattie
		 	Chairman, President and Chief Executive Officer

  

 13QEP Resouces, Inc. 2010 Annual Management Incentive Plan II

 Exhibit 10.7 

QEP RESOURCES, INC. 

ANNUAL MANAGEMENT INCENTIVE PLAN II 

Section 1. Purpose. 

The QEP Resources, Inc. Annual Management Incentive Plan II, as may be amended from time to time (the “Plan”), is designed to
provide an incentive to the highest paid officers and key employees of QEP Resources, Inc. (the “Company”) and its Affiliates (as defined below) to focus their best efforts to pursue and attain major organizational goals. The intent of the
Plan is to place a significant portion of the eligible employee’s annual compensation at risk by tying it to specific measurable goals that drive long-term shareholder value. 

Section 2. Definitions. 

“Affiliate” means any entity that is treated as the same employer as the Company under Sections 414(b), (c), (m), or (o) of
the Code, any entity required to be aggregated with the Company pursuant to regulations adopted under Section 409A of the Code, or any entity otherwise designated as an Affiliate by the Company. 

“Board” means the Board of Directors of the Company or a successor to the Company. 

“Code” shall mean the Internal Revenue Code of 1986, as amended. 

“Committee” means the Compensation Committee, or its successor committee, which is comprised wholly of independent, outside
directors and which must include at least two such directors. 
 “Covered Employee” means any of the highest paid
officers and key employees of an Employer who are selected to participate in the Plan for a Performance Period in accordance with Section 4 below. 

“Designated Beneficiary” means the beneficiary designated by the Covered Employee, in a manner determined by the Committee, to
receive amounts due the Covered Employee. In the absence of an effective designation by the Covered Employee, Designated Beneficiary shall mean the Covered Employee’s beneficiary(ies) designated by the Covered Employee (or deemed by law to be
designated) under the QEP Resources, Inc. Employee Investment Plan, as amended from time to time, or if no such designation exists, the Covered Employee’s estate. 

“Disability” means a condition that renders a Covered Employee unable to engage in any substantial, gainful activity by reason
of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve months. 

“Employer” means the Company and any of its Affiliates that is the direct employer of a Covered Employee. 

 “Fiscal Year” means the fiscal year of the Company. 

“Performance Goals” means the specific, measurable goals set by the Committee in writing for any given Performance Period.
Performance Goals may include multiple goals and may be based on one or more operational or financial criteria. Such goals shall be set by the Committee by such date as is required under Section 162(m) of the Code. In setting the Performance
Goals for the Performance Period, the Committee may include one or any combination of the following criteria in either absolute or relative terms, for the Company or any business unit within it: (a) total shareholder return; (b) return on
assets, return on equity or return on capital employed; (c) measures of profitability such as earnings per share, corporate or business unit net income, net income before extraordinary or one-time items, earnings before interest and taxes,
earnings before interest, taxes, depreciation and amortization, or earnings before interest, depreciation, amortization, taxes and exploration expense; (d) cash flow from operations; (e) gross or net revenues or gross or net margins;
(f) levels of operating expense or other expense items reported on the income statement; (g) measures of customer satisfaction and customer service; (h) safety; (i) annual or multi-year average reserve growth, production growth
or production replacement, either absolute or on an appropriate per unit basis (e.g. reserve or production growth per diluted share; (j) efficiency or productivity measures such as annual or multi-year average finding costs, absolute or per
unit operating and maintenance costs, lease operating expenses, inside-lease operating expenses, operating and maintenance expense per decatherm or customer or fuel gas reimbursement percentage; (k) satisfactory completion of a major project or
organizational initiative with specific criteria set in advance by the Committee defining “satisfactory”; (l) debt ratios or other measures of credit quality or liquidity; (m) production and production growth; and
(n) strategic asset sales or acquisitions in compliance with specific criteria set in advance by the Committee. 

“Performance Period” shall mean one or more periods of time, which may be of varying and overlapping durations, as the
Committee may select, over which the attainment of one or more Performance Goals will be measured for the purpose of determining a Covered Employee’s right to, and the payment of, a cash award granted under the terms of the Plan. 

“Service” means a Covered Employee’s service as an employee of an Employer and, to the extent applicable, service as an
employee of Questar Corporation and any affiliate thereof that was taken into account under the Questar Corporation Annual Management Incentive Plan II, as amended and restated effective January 1, 2010, with respect to such Covered
Employee’s participation therein. 
 “Target Bonus” means the dollar amount specified for each Covered Employee
within the first 90 days of each Performance Period, but in no event after 25 percent of the Performance Period has lapsed. 

“Termination of Employment” means the date on which a Covered Employee shall cease to serve as an employee of an Employer for
any reason. 
  

 2 

 Section 3. Administration. 

The Plan shall be administered by the Committee in conjunction with its administration of the QEP Resources, Inc. Annual Management
Incentive Plan, as amended from time to time. The Committee shall have sole and complete authority to adopt, alter, and repeal such administrative rules, guidelines and practices for the operation of the Plan and to interpret the terms and
provisions of the Plan. The Committee also shall have sole and complete authority to determine the extent to which Performance Goals have been achieved. The Committee’s decisions shall be final and binding upon all parties, including the
Employers, stockholders, Covered Employees and Designated Beneficiaries. 
 Section 4. Eligibility. 

Within 90 days of the beginning of a Performance Period, but in no event after 25 percent of the Performance Period has lapsed, the
Committee shall designate in writing those highest paid officers and key employees of an Employer who shall be Covered Employees under the Plan for such Performance Period. Only such Covered Employees are eligible to receive payments under this
Plan. Notwithstanding the foregoing, the Committee may designate additional officers and key employees of an Employer as Covered Employees and/or increase a Covered Employee’s Target Bonus at any time after the commencement of a Performance
Period, provided, that, if doing so would disqualify an award as “qualified performance-based compensation” under Section 162(m) of the Code, such action will be taken only if the Committee determines that it would be appropriate to
do so. 
 Section 5. Determination of Awards. 

Within 90 days after the beginning of a Performance Period, but in no event after 25 percent of the Performance Period has lapsed, the
Committee shall establish in writing (i) the Performance Goals and the underlying performance criteria applicable to the Performance Period, and (ii) a Target Bonus for each Covered Employee and a maximum payout for cash awards granted
under the terms of this Plan for such Performance Period for attainment of the specified Performance Goals by Covered Employees. Performance Goals must be objective and must satisfy the third-party objectivity standards under Section 162(m) of
the Code and regulations adopted pursuant to it. In addition, when provided for by the Committee at the time the Performance Goals are established, the Performance Goals may be adjusted to exclude the effect of any of one or more of the following
events that occur during the Performance Period: (i) asset write-downs; (ii) litigation, claims, judgments or settlements; (iii) the effect of changes in tax law, accounting principles or other such laws or provisions affecting
reported results; (iv) accruals for reorganization and restructuring programs; (v) material changes to invested capital from pension and post-retirement benefits-related items and similar non-operational items; and (vi) any
extraordinary, unusual, non-recurring or non-comparable items: (A) as described in Accounting Principles Board Opinion No. 30, (B) as described in management’s discussion and analysis of financial condition and results of
operations appearing in the Company’s Annual Report to stockholders for the applicable year, or (C) as publicly announced by the Company in a press release or conference call relating to the Company’s results of operations or
financial condition for a completed quarterly or annual fiscal period. 
  

 3 

 As soon as reasonably practicable after the close of the Performance Period, the Committee
shall determine cash awards to be paid under the terms of this Plan. Any payments made under this Plan shall be contingent upon achieving the Performance Goals set in advance for the Performance Period in question. The Committee shall certify in
writing prior to approval of any awards that such Performance Goals have been satisfied. (Approved minutes may be used for this purpose.) 

The maximum cash payment that may be made in any Fiscal Year to any Covered Employee under this Plan is $4,000,000. 

The cash payments under this Plan, in aggregate, do not have to equal 100 percent of the maximum payout, but cannot exceed such amount.
The Committee, in its sole discretion, may reduce the cash award otherwise payable to any Covered Employee if it believes that such reduction is in the best interest of the Company and its shareholders, but any reduction cannot result in any
increase to one or more other Covered Employees. The Committee has no discretion to increase the cash award otherwise payable to any Covered Employee. 

All payments shall be made in cash and in a single lump sum no later than the
15th day of the
3rd month following the end of the calendar year that
includes the last day of the relevant Performance Period. To be eligible to receive an award, the Covered Employee must be actively employed by an Employer as of the date of payment except as provided below in Section 6. 

Section 6. Termination of Employment. 

In the event a Covered Employee incurs a Termination of Employment prior to the payment of an award for any Performance Period for any
reason other than death, Disability, Retirement, or a Change in Control, he shall not be entitled to any payment for such Performance Period pursuant to the terms of the Plan. If a Covered Employee incurs a Termination of Employment prior to payment
of an award for any Performance Period as a result of death, Disability, or retirement, his award for the Performance Period (if any), as calculated pursuant to Section 5, shall be prorated based on the length of his service during the
Performance Period when compared to the entire period. For the purpose of this Plan, “Retirement” shall mean any voluntary Termination of Employment on or after age 55 with 10 years of Service. All prorated awards shall be paid to the
Covered Employee (or his Designated Beneficiary, in the event of his death) at the time specified in Section 5. 
 In the
event a Covered Employee incurs a Termination of Employment as a result of a Change in Control that occurs prior to the payment of an award for any Performance Period, he shall be entitled to receive a payment equal to his Target Bonus for such
Performance Period. Such payment shall be made to him within 30 days after his Termination of Employment. Notwithstanding the foregoing, in no event shall a Covered Employee who is a participant in the QEP Resources, Inc. Executive Severance
Compensation Plan, as amended from time to time, as of the date on which a Change in Control occurs be entitled to such payment. 

A Change in Control of the Company shall be deemed to have occurred if (i) any individual, entity, or group(within the meaning of
Section 13(d)(3) or 14(d)(2) of the Securities 
  

 4 

 
Exchange Act of 1934 (the “Exchange Act”)) other than a trustee or other fiduciary holding securities under an employee benefit plan of the Company, is or becomes the beneficial owner
(as such term is used in Rule 13d-3 under the Exchange Act) of securities of the Company representing 25 percent or more of the combined voting power of the Company; or (ii) the following individuals cease for any reason to constitute a
majority of the number of directors then serving: individuals who, as of the Effective Date, constitute the Board and any new director (other than a director whose initial assumption of office is in connection with an actual or threatened election
contest, including but not limited to a consent solicitation, relating to the election of directors of the Company) whose appointment or election by the Board or nomination for election by the Company’s stockholders was approved or recommended
by a vote of at least two-thirds of the directors then still in office who either were directors on the Effective Date, or whose appointment, election or nomination for election was previously so approved or recommended; or (iii) the
consummation of a merger or consolidation of the Company or any direct or indirect subsidiary of the Company with any corporation, other than a merger or consolidation that would result in the voting securities of the Company outstanding immediately
prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or any parent thereof) at least 60 percent of the combined voting power of the
securities of the Company or such surviving entity or its parent outstanding immediately after such merger or consolidation, or a merger or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no
person is or becomes the beneficial owner, directly or indirectly, of securities of the Company representing 25 percent or more of the combined voting power of the Company’s then outstanding securities; or (iv) the Company’s
stockholders approve a plan of complete liquidation or dissolution of the Company or there is consummated the sale or disposition by the Company of all or substantially all of the Company’s assets, other than a sale or disposition by the
Company of all or substantially all of the Company’s assets to an entity, at least 60 percent of the combined voting power of the voting securities of which are owned by the stockholders of the Company in substantially the same proportions as
their ownership of the Company immediately prior to such sale. In addition, if a Change in Control constitutes a payment event with respect to any payment under the Plan which provides for the deferral of compensation and is subject to
Section 409A of the Code, the transaction or event described in clauses (i), (ii), (iii) and (iv) with respect to such payment must also constitute a “change in control event,” as defined in Treasury Regulation
Section 1.409A-3(i)(5) to the extent required by Section 409A of the Code. 
 Section 7. Assumed Amounts
Attributable to Transferred Employees 
 Notwithstanding any other provision herein, as of the Effective Date, the Company
has assumed the liabilities and obligations under the Questar Corporation Annual Management Incentive Plan II, as amended and restated effective January 1, 2010 (the “Questar AMIP II”) for the payment, if any, of an award that a
Transferred Employee (as defined below) would have otherwise been entitled to receive with respect to the 2010 performance period pursuant to such terms and conditions set forth in the Questar AMIP II had such Transferred Employee not incurred a
termination of employment with Questar and its affiliates as a result of the transaction contemplated by that certain Separation and Distribution Agreement, by and between Questar and the Company, dated as of June 14, 2010 (the “Separation
Agreement”), and as of the 
  

 5 

 
Effective Date Questar shall have no further liabilities or obligations with respect to the Questar AMIP II for such Transferred Employees; provided, however, that any Termination of
Employment on or after the Effective Date shall be deemed to be a termination of employment with Questar and its affiliates solely for purposes of determining whether any such award would otherwise be payable in accordance with the terms and
conditions of the Questar AMIP II. For purposes of this Section, a “Transferred Employee” means a “QEP Employee” (as defined in that certain Employee Matters Agreement, by and between Questar Corporation and the Company, dated as
of June 14, 2010) who was eligible to receive an award under the Questar AMIP II with respect to the 2010 performance period. 

Section 8. Other Provisions. 

(a) Taxes and Withholding. All cash payments made under the Plan are subject to withholding for federal, state, and other
applicable taxes. The Company shall deduct any taxes required by law to be withheld from all amounts paid to a Covered Employee under this Plan. 

(b) Source of Funds. All cash payments made under the Plan will be paid from the Company’s general assets and nothing
contained in the Plan will require the Company to set aside or hold in trust any funds for the benefit of any Covered Employee or his Designated Beneficiary. 

(c) Coordination with Deferred Compensation Plan. Covered Employees are entitled to defer the receipt of their cash bonuses under
the terms of the QEP Resources, Inc. Deferred Compensation Wrap Plan, as amended from time to time. Any cash bonuses payable under this Plan that are deferred pursuant to such Deferred Compensation Wrap Plan shall be accounted for and distributed
according to the terms of such plan and the elections made by Covered Employees thereunder. 
 (d) No Assignment. No
right or interest of any Covered Employee under this Plan shall be assignable or transferable in whole or in part, either directly or by operation of law or otherwise, including, but not by way of limitation, execution, levy, garnishment,
attachment, pledge, bankruptcy, or in any other manner, and no right or interest of any Covered Employee under the Plan shall be liable for, or subject to, any obligation or liability of such Covered Employee. Any assignment, pledge, encumbrance,
charge, transfer, or other act in violation of this provision shall be void. 
 (e) Amendment and Termination of Plan.
The Board, at any time, may amend, modify, suspend, or terminate the Plan, but such action shall not affect the awards earned and the payment of such awards during any given Performance Period. No amendment to change the maximum award payable to a
Covered Employee, the definition of Covered Employee, or the definition of Performance Goals shall be effective without shareholder approval. The Board cannot amend, modify, suspend, or terminate the Plan in any year in which a Change in Control has
occurred without the written consent of the affected Covered Employees. 
 (f) Successor. The Company shall require any
successor or assignee, whether direct, indirect, by purchase, merger, consolidation or otherwise, to all or substantially all of the 

 

 6 

 
business and/or assets of the Company to assume the obligations under this Plan in the same manner and to the same extent that the Company would be required to perform if no such successor
assignment had taken place. 
 (g) Choice of Law This Plan will be governed by and construed in accordance with
applicable federal law and, to the extent not preempted by federal law, in accordance with the laws of the state of Colorado. 

(h) Effective Date of the Plan. The Plan is effective upon the “Distribution” (as such term is defined under that
certain Separation Agreement) (the “Effective Date”), and shall remain in effect until it is suspended or terminated as provided in Section 8(e); provided, however, in the event that the Separation Agreement is terminated or
the Distribution otherwise does not occur for any reason, this Plan shall automatically, and without notice, terminate and shall be of no force or effect and no participants shall have any rights or interests hereunder. 

(i) 409A Compliance. The payments and benefits provided hereunder are intended to be exempt from or compliant with the
requirements of Section 409A of the Code. Notwithstanding any provision of this Plan to the contrary, including, without limitation, Section 8(e) hereof, in the event that the Company reasonably determines that any payments or benefits
hereunder are not either exempt from or compliant with the requirements of Section 409A of the Code, the Company shall have the right adopt such amendments to this Plan or adopt such other policies and procedures (including amendments, policies
and procedures with retroactive effect), or take any other actions, that are necessary or appropriate (i) to preserve the intended tax treatment of the payments and benefits provided hereunder, to preserve the economic benefits with respect to
such payments and benefits, and/or (ii) to exempt such payments and benefits from Section 409A of the Code or to comply with the requirements of Section 409A of the Code and thereby avoid the application of penalty taxes thereunder;
provided, however, that this Section 8(i) does not, and shall not be construed so as to, create any obligation on the part of the Company to adopt any such amendments, policies or procedures or to take any other such actions or to indemnify any
Covered Employee for any failure to do so. 
 Notwithstanding anything to the contrary in this Plan, no compensation or benefits
shall be paid to a Covered Employee during the 6-month period following his or her “separation from service” from the Company (within the meaning of Section 409A(a)(2)(A)(i) of the Code and Treasury Regulation
Section 1.409A-1(h)) (a “Separation from Service”)) to the extent that the Company determines that the Covered Employee is a “specified employee” at the time of such Separation from Service and that that paying such amounts
at the time or times indicated in this Plan would be a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code. If the payment of any such amounts is delayed as a result of the previous sentence, then on the first business day
following the end of such 6-month period (or such earlier date upon which such amount can be paid under Section 409A of the Code without being subject to such additional taxes, including as a result of the Covered Employee’s death), the
Company shall pay to the Covered Employee a lump-sum amount equal to the cumulative amount that would have otherwise been payable to the Covered Employee during such 6-month period. 

[Signature Page Follows] 
  

 7 

 I hereby certify that this QEP Resources, Inc. Annual Management Incentive Plan II was duly
adopted by the Board of Directors of QEP Resources, Inc. on June 12, 2010. 
 Executed on this 12 day of June, 2010.

  

							
	By:	 	 /s/ Richard J. Doleshek
	  	
		 	    Richard J. Doleshek	  		  	
		 	    Executive Vice President, Chief Financial Officer and Treasurer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00174-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00174-of-00352.parquet"}]]