SEC Contract Filing

Filing Date: 2018-05-03

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit101.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<div><a name="se8dd985f29274f2cba69f8badd2ebd31"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:12px;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Exhibit 10.1</font></div><div style="line-height:120%;padding-top:12px;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">EMPLOYMENT AGREEMENT</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">EMPLOYMENT AGREEMENT (&#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Agreement</font><font style="font-family:inherit;font-size:10pt;">&#8221;) dated as of&#160;February 15, 2018 (the &#8220;Effective Date&#8221;) between CONSOL Energy Inc. CNX Center, 1000 CONSOL Energy Drive, Suite 100 Canonsburg, Pennsylvania 15317, a Delaware corporation (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Company</font><font style="font-family:inherit;font-size:10pt;">&#8221;), and&#160;James A. Brock (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Executive</font><font style="font-family:inherit;font-size:10pt;">&#8221;). </font></div><div style="line-height:120%;padding-top:12px;text-align:center;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">RECITALS</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, the Executive is employed as the Chief Executive Officer and President of the Company and is expected to make major contributions to the short and long-term profitability, growth and financial strength of the Company;</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, the Company&#8217;s Board of Directors (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Board</font><font style="font-family:inherit;font-size:10pt;">&#8221;) wishes to provide for the Executive&#8217;s continued employment in recognition of his critical leadership skills, which are essential to drive the Company&#8217;s strategic focus and success as a newly independent public company; </font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, the Board also desires to provide the Executive with the compensation and other benefits on the terms and subject to the conditions set forth in this Agreement; and </font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, the Executive is willing to commit himself to continue to serve&#160;the Company on the terms and subject to the conditions set forth in this Agreement. </font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In order to effect the foregoing,&#160;the Company&#160;and the Executive wish to enter into this Agreement on the terms and conditions set forth below. Accordingly, in consideration of the promises and the respective covenants and agreements of the parties herein contained, and intending to be legally bound hereby, the parties hereto agree as follows: </font></div><div style="line-height:120%;padding-top:24px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ARTICLE 1</font></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">DEFINITIONS </font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SECTION 1.01.&#160;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Definitions</font><font style="font-family:inherit;font-size:10pt;">. For purposes of this Agreement, the following terms have the meanings set forth below: </font></div><div style="line-height:120%;padding-top:6px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">&#8220;Affiliate&#8221;</font><font style="font-family:inherit;font-size:10pt;">&#160;means (i)&#160;any entity that, directly or indirectly, is controlled by&#160;the Company, (ii)&#160;any entity in which the Company has a significant equity interest, and/or (iii)&#160;an affiliate of&#160;the Company&#160;as defined in Rule 12b-2 promulgated under Section&#160;12 of the Securities Exchange Act of 1934, as amended. </font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent: