EQT CORPORATION (NYSE:EQT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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EQT CORPORATION (NYSE:EQT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

In connection with the closing of the acquisition of Rice Energy Inc. (Rice) by EQT Corporation (the Company) and the termination of Daniel Rice IV’s employment on November13, 2017, the Company and EQT RE, LLC (successor in interest to Rice) entered into a separation and release agreement with Mr.Rice, to which he will receive the following severance payments and benefits in accordance with his employment agreement with Rice: (a)a lump sum cash payment equal to two times the sum of (i)his base salary and (ii)average annual bonus for the three calendar years preceding the date of termination, which amount shall be paid on the 60th day after the date of termination; (b)COBRA medical insurance coverage for up to 18 months, for which the Company shall pay the premium cost in excess of that which applies to its active senior executives; (c)in lieu of a prorated annual bonus for 2017, a payment equal to 200% of his target annual bonus opportunity for 2017; and (d)full vesting of his outstanding unvested Rice equity awards, which shall be settled with respect to each share of common stock, par value $0.01 per share, of Rice subject thereto for the consideration payable to Rice shareholders generally in connection with the Company’s acquisition of Rice of0.37 of a share of the common stock, no par value, of the Company and $5.30 in cash. In consideration for the foregoing payments and benefits, Mr.Rice agreed to a release of claims in favor of the Company and its affiliates and reaffirmed his agreement to abide by covenants relating to noncompetition and nonsolicitation of customers and employees for three years following his termination of employment. The separation agreement with Mr.Rice is attached hereto as Exhibit10.1.

Item 9.01. Financial Statements and Exhibits.

(d)Exhibits.


EQT Corp Exhibit
EX-10.1 2 a17-27156_2ex10d1.htm EX-10.1 Exhibit 10.1   SEPARATION AND RELEASE AGREEMENT   This SEPARATION AND RELEASE AGREEMENT (this “Agreement”) is made and entered into as of November 13,…
To view the full exhibit click here

About EQT CORPORATION (NYSE:EQT)

EQT Corporation (EQT) is an energy company. The Company operates through two business segments: EQT Production and EQT Midstream. EQT Production is a natural gas producer in the Appalachian Basin with over 10 trillion cubic feet equivalent (Tcfe) of natural gas, natural gas liquid (NGL) and crude oil reserves across approximately 3.4 million acres, including approximately 630,000 gross acres in the Marcellus play. EQT Midstream provides gathering, transmission and storage services for the Company’s produced gas and for the independent third parties across the Appalachian Basin. Its EQT Production segment conducts lateral horizontal and completion drilling in the Appalachian Basin. EQT Production’s properties are located in Pennsylvania, West Virginia, Kentucky and Virginia. EQT Midstream owns or operates approximately 8,250 miles of gathering lines and approximately 180 compressor units, as well as other general property and equipment.