EXHIBIT 10.1
FIRST AMENDMENT TO
SUBSCRIPTION AGREEMENT

THIS FIRST AMENDMENT TO SUBSCRIPTION AGREEMENT (this “Amendment”) is dated as of
December 12, 2012, by and between Pinedale GP, Inc., a Delaware corporation (the
“General Partner”), Ross Avenue Investments, LLC, a Delaware limited liability
company (the “Limited Partner” and together with the General Partner, the
“Investors”), and Pinedale Corridor, LP, a Delaware limited partnership (the
“Company”).

RECITALS

A.           On December 7, 2012, the parties hereto entered into the
Subscription Agreement (the “Subscription Agreement”), pursuant to which,
subject to the terms and conditions thereof, the Company agreed to sell to the
Investors, and the Investors agreed to purchase from the Company, the Units.

B.           In connection with (i) an amendment, dated December 12, 2012, to
the Purchase Agreement, and (ii) an adjustment to the proposed capital structure
of the Company, the parties desire to enter into this Amendment.

NOW THEREFORE, in consideration of the mutual promises and covenants contained
herein and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as
follows:

AGREEMENT

1.
Defined Terms.  Capitalized terms used but not defined herein have the meanings
ascribed thereto in the Subscription Agreement.

 
2.
Amendments.

 
 
2.1
Schedule A. Schedule A to the Subscription Agreement is hereby deleted in its
entirety and replaced with Schedule A attached to this Amendment.

 
 
2.2
Schedule B.  Schedule B to the Subscription Agreement is hereby deleted in its
entirety and replaced with Schedule B attached to this Amendment.

 
 
2.3
Section 1.3(c).  Section 1.3(c) of the Subscription Agreement is hereby deleted
in its entirety and replaced with the following:

 
“(c)           each Investor shall have contributed its portion of the Capital
Contributions as set forth next to such Investor’s name on Schedule A attached
hereto (i) with respect to the cash portion of such Capital Contributions, in
accordance with the wiring or other transfer instructions provided by the
Company at least three (3) business days prior to the Subscription Closing Date
and (ii) with respect to any non-cash portion of such Capital Contributions,
pursuant to a transfer instrument or such other means of conveyance as shall be
acceptable to the Company.”
 

 
 
 

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3.           Survival.  Except as modified and amended by this Amendment, the
Subscription Agreement shall remain in full force and effect and its terms are
hereby ratified and confirmed.
 
 [Remainder of Page Intentionally Left Blank]
 

 
 
 

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed as of the date first written above.
 
 
 

 
COMPANY:
 
 
 
   
Pinedale Corridor, LP
         
 
By:
/s/ Pinedale GP, Inc., its General Partner       Name: Pinedale GP, Inc., its
General Partner       Title: President           

 
 
 
 

 
INVESTORS
 
 
 
   
Pinedale GP, Inc.
         
 
By:
/s/ David J. Schulte      
Name: David J. Schulte
     
Title: President
       

 
 
 

 
Ross Avenue Investments, LLC
 
 
 
          Name:    
 
Title:
       
 
     
 
     

[Signature Page to First Amendment to Subscription Agreement]
 
 

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SCHEDULE A
 
Units and Capital Contributions
 

Name and Address
Percentage
Interest
Units
Capital Contributions
 
General Partner
 
Pinedale GP, Inc.
4200 W. 115th Street, Suite 210
Leawood, KS 66211
 
81.13%
811.3
General Partnership Interest Units
$105,000,000 in cash, plus additional cash as necessary to cover all costs and
expenses to be paid or reimbursed by the Partnership pursuant to Section 2.5 of
the Partnership Agreement (estimated $4,000,000)
 
1,050,420 common units of NGL Energy Partners, LP, with an agreed fair value of
$20,000,000
 
Total:  $129,000,000
 
Limited Partner
 
Ross Avenue Investments LLC
c/o Prudential Capital Group
2200 Ross Avenue
Suite 4200E
Dallas TX 75201-2758
Attn:  Managing Director, Energy Finance Group – Oil & Gas
 
18.87%
188.7
Class B Limited Partnership Interest
Units
$30,000,000 in cash

 
 

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SCHEDULE B
 
First Amended and Restated Partnership Agreement

 
 
 

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