Fill a deep container with enough water to cover lobsters. For each gallon of water add 1/4 cup of salt. Bring water to a boil. Grab your big fat lobster around its pot belly at mid body and quickly insert it into the water head first. Watch your fingers! (Putting lobsters in the freezer for a few minutes before cooking is said to make cooking lobsters more humane.) Cover the container,and return to a boil. Cook 15 to 20 minutes. Remember, it's not cooked until it's turned red.Serve immediately. If you don't plan on eating your lobster right away, cool quickly on ice,store lobsters in a drainable container. DO NOT ALLOW LOBSTERS TO SIT IN WATER. Place lobsters on their backs. This keeps the body juices in the shell. Cover lobsters with a bag of crushed ice and store in a cooler. Lobsters stored this way will keep for 4-5 days.

Never eat a lobster that has an uncurled tail after it's cooked, as it has died before it was cooked, (note:some chefs strap the lobsters' tail to a small plank with rubber bands, in order to keep the tail flat for display purposes).
 

Freezing Lobster

To freeze lobster, cook, and cool according to above instructions and remove the meat from its shell,(instructions can be found by clicking "How to eat a lobster" link). Freeze in bags immediately, and add a small amount of the brine it was boiled in. Be sure meat has cooled completely before placing in freezer bags.
 

How to eat a lobster