Document:

Second amendment to amended and Restated Credit Agreement

 Exhibit 10.1 
 Execution 
  
  

 
 SECOND AMENDMENT TO AMENDED AND
RESTATED CREDIT AGREEMENT 
 among 
 CHESAPEAKE MLP OPERATING, L.L.C., 
 as the Borrower, 

CHESAPEAKE MIDSTREAM PARTNERS, L.P., 
 as Parent, 
 WELLS FARGO BANK, NATIONAL ASSOCIATION, 

as Administrative Agent, 
 THE ROYAL BANK OF SCOTLAND plc, 
 as Syndication Agent, 

BANK OF MONTREAL, 

COMPASS BANK AND 

THE BANK OF NOVA SCOTIA, 
 as Co-Documentation Agents 
 and 

The Several Lenders from Time to Time Parties Hereto, 
 Dated as of June 15, 2012 
 WELLS FARGO SECURITIES, LLC and RBS SECURITIES
INC., 
 as Joint Lead Arrangers 
 and 
 WELLS FARGO SECURITIES, LLC, 

as Sole Book Manager 
  

 
  

  

[SECOND AMENDMENT TO CMP A & R CREDIT
AGREEMENT] 
  

 SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 

THIS SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (herein called the “Amendment”) dated as of June 15,
2012 among CHESAPEAKE MLP OPERATING, L.L.C., a Delaware limited liability company (the “Borrower”), CHESAPEAKE MIDSTREAM PARTNERS, L.P., a Delaware limited partnership (“Parent”), WELLS FARGO BANK, NATIONAL
ASSOCIATION, as Administrative Agent, Swing Line Lender, and the Issuing Lender, and the several banks and other financial institutions or entities from time to time parties to the Existing Credit Agreement defined below
(“Lenders”). 
 W I T N E S S E T H: 
 WHEREAS, the Borrower, Parent, Administrative Agent and Lenders entered into that certain Amended and Restated Credit Agreement dated as of June 10, 2011, as amended by that certain First Amendment
to Amended and Restated Credit Agreement dated as of December 20, 2011 (as amended, the “Existing Credit Agreement”), for the purpose and consideration therein expressed, whereby Lenders became obligated to make loans to the
Borrower as therein provided; and 
 WHEREAS, the Borrower, Parent, Administrative Agent and Lenders desire to amend the
Existing Credit Agreement as set forth herein; 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants and
agreements contained herein and in the Existing Credit Agreement, in consideration of the loans which may hereafter be made by Lenders to the Borrower, and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto do hereby agree as follows: 
 ARTICLE I. 

DEFINITIONS AND REFERENCES 
 Section 1.1. Terms Defined in the Existing Credit Agreement . Unless the context otherwise requires or unless otherwise expressly defined herein, the terms defined in the Existing Credit Agreement
shall have the same meanings whenever used in this Amendment. 
 Section 1.2. Other Defined Terms . Unless the context
otherwise requires, the following terms when used in this Amendment shall have the meanings assigned to them in this Section 1.2. 
 “Amendment” means this Second Amendment to the Existing Credit Agreement. 
 “Amendment Documents” means this Amendment and all other documents or instruments delivered in connection herewith or therewith. 

“Amendment Effective Date” means the date that the conditions precedent to the effectiveness of this
Amendment specified in Section 3.1 have been satisfied. 

  

[SECOND AMENDMENT TO CMP A & R CREDIT AGREEMENT] 

 

 “Credit Agreement” means the Existing Credit Agreement as
amended hereby. 
 “Initial June 2012 Purchase Agreement” means the Purchase Agreement described
in clause (a) of the definition of June 2012 Purchase Agreements. 
 ARTICLE II. 

AMENDMENTS TO EXISTING CREDIT AGREEMENT 
 Section 2.1. Additional Defined Terms . Section 1.1 of the Existing Credit Agreement is amended to add the following definitions in the proper alphabetical order: 

““Change of Control”: means the existence of any of the following (a) Designated Holders shall
fail to own, directly or indirectly, at least 50% of the voting ownership of the General Partner, or (b) the General Partner shall cease to either be or Control the sole general partner of Parent, or (c) the Borrower shall cease to be a
wholly owned Subsidiary of Parent. 
 “June 2012 Purchase Agreements”: (a) the Purchase
Agreement to be executed on or around June 7, 2012 by and among Chesapeake Midstream Holdings, L.L.C., a Delaware limited liability company, GIP II Eagle 1 Holding, L.P., a Delaware limited partnership, GIP II Eagle 2 Holding, L.P., a Delaware
limited partnership, and GIP II Eagle 3 Holding, L.P., a Delaware limited partnership, and (b) the Purchase Agreement to be executed on or around June 7, 2012 by and among Chesapeake Midstream Holdings, L.L.C., a Delaware limited liability
company, and GIP II Eagle 4 Holding, L.P., a Delaware limited partnership, each in substantially in the form provided to the Administrative Agent. 
 “June 2012 Documents”: collectively, the June 2012 Purchase Agreements and each of the documents required to be delivered pursuant thereto.”“ 

Section 2.2. Existing Defined Terms. 
 (a) The definition of “Chesapeake Energy Designees” in Section 1.1 of the Existing Credit Agreement is hereby deleted in its entirety. 

(b) The definition of “Continuing Directors” in Section 1.1 of the Existing Credit Agreement is hereby deleted in its
entirety. 
 (c) The definition of “Designated Holder” in Section 1.1 of the Existing Credit Agreement is hereby
amended in its entirety to read as follows: 
 ““Designated Holder”: means any
Person (other than a natural person) which is Controlled or managed by Global Infrastructure Management, L.L.C., Global Infrastructure Investors, Limited, or Global Infrastructure Investors II, LLC.”

  

[SECOND AMENDMENT TO CMP A & R CREDIT AGREEMENT] 

 
 2 

 (d) The definition of “L/C Sublimit” in Section 1.1 of the Existing Credit
Agreement is hereby amended by replacing “$50,000,000” with “$200,000,000”. 
 (e) The definition of
“Transaction Documents” in Section 1.1 of the Existing Credit Agreement is hereby amended in its entirety as follows: 
 “Transaction Documents”: collectively, the Transaction Agreement, each of the documents required to be delivered pursuant thereto, the June 2012 Documents, and any amendment, supplement,
restatement or other modification of any of the foregoing entered into in connection with the June 2012 Documents. 
 Section
2.3. Modifications of Certain Agreements. Section 7.8 of the Existing Credit Agreement is hereby amended to add the following sentence at the end of such section: 
 “The foregoing shall not apply to the amendments of (I) that certain Amended and Restated Gas Compressor Master Rental and Servicing Agreement dated December 21, 2010, between Chesapeake
MLP Operating, L.L.C. and MidCon Compression, L.L.C., or (II) that certain Gas Compressor Master Rental and Servicing Agreement originally dated January 1, 2011, between MidCon Compression, L.L.C. and Chesapeake Midstream Development, L.P., as
partially assigned by Chesapeake Midstream Development, L.P. to Appalachia Midstream Services, L.L.C. effective December 31, 2011, entered into in connection with the June 2012 Documents.” 

Section 2.4. Transactions with Affiliates. Section 7.9 of the Existing Credit Agreement is hereby amended in its entirety to
read as follows: 
 “Section 7.9 Transactions with Affiliates. Enter into any transaction, including any purchase,
sale, lease or exchange of property, the rendering of any service or the payment of any management, advisory or similar fees, with any Affiliate (other than the Parent, the Borrower or any Subsidiary Guarantor) unless such transaction (or if a
series of transactions, such transactions, taken as a whole) (a) does not otherwise violate the provisions of any Loan Document, and (b) is made upon fair and reasonable terms that are no less favorable to the relevant Group Member than it
would obtain in a comparable arm’s length transaction with a Person that is not an Affiliate, except the foregoing shall not restrict (a) any transaction permitted by Section 7.6 or any Investment permitted by Section 7.7,
(b) transactions contemplated by the Parent’s Agreement of Limited Partnership as it exists on the Closing Date, (c) compensation and employee benefit arrangements paid to, and indemnities provided for the benefit of, directors,
officers or employees of the General Partner or any Group Member, (d) transactions approved by the Conflicts Committee of the Board of Directors of the General Partner as contemplated by the Parent’s Agreement of Limited Partnership (or
the equivalent successor body to such Conflicts Committee), (e) so long as no Event of Default shall have occurred and be continuing at the time such transaction is entered into, any transaction in the ordinary course of business that does not
otherwise violate the provisions of any Loan Document and is not material to the Group Members taken as a whole, or (f) transactions contemplated by the Transaction Documents or Material Agreements.” 

  

[SECOND AMENDMENT TO CMP A & R CREDIT AGREEMENT] 

 
 3 

 Section 2.5. Change of Control Default. Paragraph (l) of Article 8 of the
Existing Credit Agreement is hereby amended in its entirety to read as follows: 
 “(l) any Change of Control shall occur;
or” 
 Section 2.6. Certain Defaults. (a) Paragraphs (e), (h) and (i) of Article 8 of the Existing
Credit Agreement are hereby amended by replacing “$15,000,000” in each place it appears with “$50,000,000” and (b) paragraph (m) of Article 8 of the Existing Credit Agreement is hereby amended by replacing
“$5,000,000” in each place it appears with “$20,000,000”. 
 ARTICLE III. 

CONDITIONS OF EFFECTIVENESS 
 Section 3.1. Amendment Effective Date . This Amendment shall become effective as of the date first above written when and only when: 

(a) Administrative Agent shall have received all of the following, at Administrative Agent’s office, duly executed and delivered and
in form, substance and date satisfactory to Administrative Agent: 
 (i) the Amendment executed by the Borrower,
Parent, Administrative Agent and Majority Lenders; 
 (ii) a duly executed Consent and Agreement from Parent and
each Subsidiary Guarantor in the form attached hereto; 
 (iii) a closing certificate of each Loan Party in
substantially the form of Exhibit C to the Existing Credit Agreement; and 
 (iv) such other supporting documents
as Administrative Agent may reasonably request. 
 (b) The initial purchase and sale of interests in Chesapeake Midstream
Ventures, L.L.C. shall have been consummated pursuant to the Initial June 2012 Purchase Agreement. 
 (c) The Borrower shall
have paid to the Administrative Agent for the account of each Lender party to this Amendment upon its effectiveness, a fee of 0.05% of such Lender’s Revolving Commitment. 
 (d) The Borrower shall have paid, in connection with such Loan Documents, all other fees and reimbursements to be paid to Administrative Agent pursuant to any Loan Documents, or otherwise due
Administrative Agent and including invoiced fees and disbursements of Administrative Agent’s attorneys. 

  

[SECOND AMENDMENT TO CMP A & R CREDIT AGREEMENT] 

 
 4 

 ARTICLE IV. 
 REPRESENTATIONS AND WARRANTIES 
 Section 4.1. Representations and
Warranties of the Borrower and Parent . In order to induce each Lender to enter into this Amendment, the Borrower and Parent represent and warrant to each Lender that: 
 (a) The representations and warranties contained in Article 4 of the Existing Credit Agreement are true and correct at and as of the time of the effectiveness hereof, except to the extent such
representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and except for purposes of this definition, the representations and warranties contained in
subsections (a) and (b) of Section 4.1 of the Credit Agreement shall be deemed to refer, at the time of such acquisition, to the most recent statements furnished pursuant to clauses (a) and (b),
respectively, of Section 6.1 of the Credit Agreement. 
 (b) The Borrower and Parent are duly authorized to execute
and deliver this Amendment and the other Amendment Documents and the Borrower is and will continue to be duly authorized to borrow monies and to perform its obligations under the Credit Agreement. The Borrower and Parent haves duly taken all
corporate action necessary to authorize the execution and delivery of this Amendment and the other Amendment Documents and to authorize the performance of the obligations of the Borrower hereunder and thereunder. 

(c) When duly executed and delivered, each of this Amendment and the Credit Agreement will be a legal and binding obligation of the
Borrower, enforceable in accordance with its terms, except as limited by bankruptcy, insolvency or similar laws of general application relating to the enforcement of creditors’ rights and by equitable principles of general application.

 ARTICLE V. 
 MISCELLANEOUS 
 Section 5.1. Waiver. The Majority Lenders hereby
waive any Event of Default under paragraph (l) of Article 8 of the Existing Credit Agreement as a result of the consummation of the transactions contemplated by the June 2012 Purchase Agreements. 

Section 5.2. Ratification of Agreements. The Existing Credit Agreement as hereby amended is hereby ratified and confirmed in all
respects. The Loan Documents, as they may be amended or affected by the various Amendment Documents, are hereby ratified and confirmed in all respects. Any reference to the Credit Agreement in any Loan Document shall be deemed to be a reference to
the Existing Credit Agreement as hereby amended. The execution, delivery and effectiveness of this Amendment and the other Amendment Documents shall not, except as expressly provided herein or therein, operate as a waiver of any right, power or
remedy of Lenders under the Credit Agreement, the Notes, or any other Loan Document nor constitute a waiver of any provision of the Credit Agreement, the Notes or any other Loan Document. 

Section 5.3. Survival of Agreements. All representations, warranties, covenants and agreements of the Borrower and Parent herein
shall survive the execution and delivery of this 

  

[SECOND AMENDMENT TO CMP A & R CREDIT AGREEMENT] 

 
 5 

 
Amendment and the performance hereof, including without limitation the making or granting of the Loans, and shall further survive until all of the Obligations are paid in full. All statements and
agreements contained in any certificate or instrument delivered by the Borrower or any Group Members hereunder or under the Credit Agreement to any Lender shall be deemed to constitute representations and warranties by, and/or agreements and
covenants of, the Borrower and Parent under this Amendment and under the Credit Agreement. 
 Section 5.4. Loan
Documents. This Amendment and the other Amendment Documents are Loan Documents, and all provisions in the Credit Agreement pertaining to Loan Documents apply hereto and thereto. 

Section 5.5. Governing Law. This Amendment shall be governed by and construed in accordance the laws of the State of Texas and any
applicable laws of the United States of America in all respects, including construction, validity and performance. 
 Section
5.6. Counterparts; Fax. This Amendment may be separately executed in counterparts and by the different parties hereto in separate counterparts, each of which when so executed shall be deemed to constitute one and the same Amendment. This
Amendment and the other Amendment Documents may be validly executed by facsimile or other electronic transmission. 
 THIS
AMENDMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS OF THE
PARTIES. 
 [The remainder of this page has been intentionally left blank.] 

  

[SECOND AMENDMENT TO CMP A & R CREDIT AGREEMENT] 

 
 6 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered by their proper and duly authorized officers as of the day and year first above written. 
  

			
	CHESAPEAKE MLP OPERATING, L.L.C.
		
	By:	 	/s/ DAVID C. SHIELS
		 	David C. Shiels
		 	Chief Financial Officer

  

					
	 CHESAPEAKE MIDSTREAM PARTNERS, L.P., a
 Delaware limited partnership

		
	By:	 	 Chesapeake Midstream GP, L.L.C.,
 its sole general partner

			
		 	By:	 	/s/ DAVID C. SHIELS
		 		 	David C. Shiels
		 		 	Chief Financial Officer

  

[SIGNATURE PAGE TO SECOND AMENDMENT TO CMP A &
R CREDIT AGREEMENT] 
  

 
			
	 WELLS FARGO BANK, NATIONAL
 ASSOCIATION, as Administrative Agent,
 as Swing Line Lender, as an Issuing Lender

and as a Lender

		
	By:	 	/s/ COURTNEY KUBESCH
	Name:	 	Courtney Kubesch
	Title:	 	Vice President

  

[SIGNATURE PAGE TO SECOND AMENDMENT TO CMP A &
R CREDIT AGREEMENT] 
  

 
			
	THE ROYAL BANK OF SCOTLAND plc, as a Lender
		
	By:	 	/s/ SANJAY REMOND
	Name:	 	Sanjay Remond
	Title:	 	Authorised Signatory

  

[SECOND AMENDMENT TO CMP A & R CREDIT AGREEMENT] 

 

 
			
	BANK OF MONTREAL, as a Lender
		
	By:	 	/s/ KEVIN UTSEY
	Name:	 	Kevin Utsey
	Title:	 	Director

  

[SIGNATURE PAGE TO SECOND AMENDMENT TO CMP A &
R CREDIT AGREEMENT] 
  

 
			
	COMPASS BANK, as a Lender
		
	By:	 	/s/ KATHLEEN J. BOWEN
	Name:	 	Kathleen J. Bowen
	Title:	 	Senior Vice President

  

[SIGNATURE PAGE TO SECOND AMENDMENT TO CMP A &
R CREDIT AGREEMENT] 
  

 
			
	THE BANK OF NOVA SCOTIA, as a Lender
		
	By:	 	/s/ GREG GEORGE
	Name:	 	Greg George
	Title:	 	Managing Director

  

[SIGNATURE PAGE TO SECOND AMENDMENT TO CMP A &
R CREDIT AGREEMENT] 
  

 
			
	BANK OF AMERICA, N.A., as a Lender
		
	By:	 	/s/ RONALD E. MCKAIG
	Name:	 	Ronald E. McKaig
	Title:	 	Managing Director

  

[SIGNATURE PAGE TO SECOND AMENDMENT TO CMP A &
R CREDIT AGREEMENT] 
  

 
			
	BARCLAYS BANK PLC, as a Lender
		
	By:	 	/s/ SREEDHAR R. KONA
	Name:	 	Sreedhar R. Kona
	Title:	 	Assistant Vice President

  

[SIGNATURE PAGE TO SECOND AMENDMENT TO CMP A &
R CREDIT AGREEMENT] 
  

 
			
	 CAPITAL ONE, NATIONAL ASSOCIATION,
 as a Lender

		
	By:	 	/s/ PETER SHEN
	Name:	 	Peter Shen
	Title:	 	Vice President

  

[SIGNATURE PAGE TO SECOND AMENDMENT TO CMP A &
R CREDIT AGREEMENT] 
  

 
			
	CITIBANK, N.A., as a Lender
		
	By:	 	/s/ JOHN MILLER
	Name:	 	John Miller
	Title:	 	Vice President

  

[SIGNATURE PAGE TO SECOND AMENDMENT TO CMP A &
R CREDIT AGREEMENT] 
  

 
			
	GOLDMAN SACHS BANK USA, as a Lender
		
	By:	 	/s/ MICHELLE LATZONI
	Name:	 	Michelle Latzoni
	Title:	 	Authorized Signatory

  

[SIGNATURE PAGE TO SECOND AMENDMENT TO CMP A &
R CREDIT AGREEMENT] 
  

 
			
	MORGAN STANLEY BANK, N.A., as a Lender
		
	By:	 	/s/ SCOTT TAYLOR
	Name:	 	Scott Taylor
	Title:	 	Authorized Signatory

  

[SIGNATURE PAGE TO SECOND AMENDMENT TO CMP A &
R CREDIT AGREEMENT] 
  

 
			
	DNB BANK ASA, GRAND CAYMAN BRANCH, as a Lender
		
	By:	 	/s/ SANJIV NAYAR
	Name:	 	Sanjiv Nayar
	Title:	 	Senior Vice President
		
	By:	 	/s/ KJELL TORE EGGE
	Name:	 	Kjell Tore Egge
	Title:	 	Senior Vice President

  

[SIGNATURE PAGE TO SECOND AMENDMENT TO CMP A &
R CREDIT AGREEMENT] 
  

 
			
	 The Bank of Toyko-Mitsubishi UFJ, Ltd., as a
 Lender

		
	By:	 	/s/ ANDREW ORAM
	Name:	 	Andrew Oram
	Title:	 	Managing Director

  

[SIGNATURE PAGE TO SECOND AMENDMENT TO CMP A &
R CREDIT AGREEMENT] 
  

 
			
	UBS AG, STAMFORD BRANCH, as a Lender
		
	By:	 	/s/ IRJA R. OTSA
	Name:	 	Irja R. Otsa
	Title:	 	Associate Director
		
	By:	 	/s/ MARY E. EVANS
	Name:	 	Mary E. Evans
	Title:	 	Associate Director

  

[SIGNATURE PAGE TO SECOND AMENDMENT TO CMP A &
R CREDIT AGREEMENT] 
  

 
			
	 CREDIT SUISSE AG, CAYMAN ISLANDS
 BRANCH, as a Lender

		
	By:	 	/s/ SHAHEEN MALIK
	Name:	 	Shaheen Malik
	Title:	 	Vice President
		
	By:	 	/s/ MICHAEL SPAIGHT
	Name:	 	Michael Spaight
	Title:	 	Associate

  

[SIGNATURE PAGE TO SECOND AMENDMENT TO CMP A &
R CREDIT AGREEMENT] 
  

 
			
	ROYAL BANK OF CANADA, as a Lender
		
	By:	 	/s/ MARK LUMPKIN, JR.
	Name:	 	Mark Lumpkin, Jr.
	Title:	 	Authorized Signatory

  

[SIGNATURE PAGE TO SECOND AMENDMENT TO CMP A &
R CREDIT AGREEMENT] 
  

 
			
	COMERICA BANK, as a Lender
		
	By:	 	/s/ JOHN S. LESIKAR
	Name:	 	John S. Lesikar
	Title:	 	Assistant Vice President

  

[SIGNATURE PAGE TO SECOND AMENDMENT TO CMP A &
R CREDIT AGREEMENT] 
  

 
			
	 DEUTSCHE BANK TRUST COMPANY
 AMERICAS, as a Lender

		
	By:	 	/s/ MICHEAL GETZ
	Name:	 	Michael Getz
	Title:	 	Vice President
		
	By:	 	/s/ ERIN MORRISSEY
	Name:	 	Erin Morrissey
	Title:	 	Director

  

[SIGNATURE PAGE TO SECOND AMENDMENT TO CMP A &
R CREDIT AGREEMENT] 
  

 
			
	 EXPORT DEVELOPMENT CANADA,
 as a Lender

		
	By:	 	/s/ RICHARD LEONG
	Name:	 	Richard Leong
	Title:	 	Asset Manager
		
	By:	 	/s/ TALAL M. KAIROUZ
	Name:	 	Talal M. Kairouz
	Title:	 	Senior Asset Manager

  

[SIGNATURE PAGE TO SECOND AMENDMENT TO CMP A &
R CREDIT AGREEMENT] 
  

 
			
	 SUMITOMO MITSUI BANKING CORP., NEW
 YORK, as a Lender

		
	By:	 	/s/ SHUJI YABE
	Name:	 	Shuji Yabe
	Title:	 	Managing Director

  

[SIGNATURE PAGE TO SECOND AMENDMENT TO CMP A &
R CREDIT AGREEMENT] 
  

 
			
	 U.S. BANK NATIONAL ASSOCIATION, as a
 Lender

		
	By:	 	/s/ TARA R. MCLEAN
	Name:	 	Tara R. McLean
	Title:	 	Vice President

  

[SIGNATURE PAGE TO SECOND AMENDMENT TO CMP A &
R CREDIT AGREEMENT] 
  

 
			
	RAYMOND JAMES BANK, N.A., as a Lender
		
	By:	 	/s/ SCOTT G. AXELROD
	Name:	 	Scott G. Axelrod
	Title:	 	Vice President

  

[SIGNATURE PAGE TO SECOND AMENDMENT TO CMP A &
R CREDIT AGREEMENT] 
  

 
			
	TORONTO DOMINION (NEW YORK) LLC, as a Lender
		
	By:	 	/s/ DEBBI L. BRITO
	 Name:
 Title:
	 	 Debbi L. Brito
 Authorized
Signatory

  

[SIGNATURE PAGE TO SECOND AMENDMENT TO CMP A &
R CREDIT AGREEMENT] 

 Second Amendment 
 CONSENT AND AGREEMENT 
 Each of the undersigned (in their individual capacity,
each a “Guarantor”), hereby (i) consents to the provisions of this Amendment and the transactions contemplated herein, (ii) ratifies and confirms the Amended and Restated Guaranty dated as of June 10, 2011 made by it for the
benefit of Administrative Agent and Lenders executed pursuant to the Credit Agreement and the other Loan Documents, (iii) agrees that all of its respective obligations and covenants thereunder shall remain unimpaired by the execution and
delivery of this Amendment and the other documents and instruments executed in connection herewith and (iv) agrees that the Amended and Restated Guaranty and such other Loan Documents shall remain in full force and effect. 

 

					
	CHESAPEAKE MIDSTREAM PARTNERS, L.P., a Delaware limited partnership
		
	By:	 	 Chesapeake Midstream GP, L.L.C.,
 its sole general partner

			
		 	By:	 	/s/ DAVID C. SHIELS
		 		 	 David C. Shiels

Chief Financial Officer

  

					
	 APPALACHIA MIDSTREAM SERVICES, L.L.C.
 BLUESTEM GAS SERVICES, L.L.C.
 CHESAPEAKE MIDSTREAM GAS SERVICES, L.L.C.

OKLAHOMA MIDSTREAM GAS SERVICES, L.L.C.

MAGNOLIA MIDSTREAM GAS SERVICES, L.L.C.

PONDER MIDSTREAM GAS SERVICES, L.L.C.

TEXAS MIDSTREAM GAS SERVICES, L.L.C.

		
	By:	 	Chesapeake Midstream Operating, L.L.C., sole manager
			
		 	By:	 	/s/ DAVID C. SHIELS
		 		 	 David C. Shiels

Chief Financial Officer

  

[CONSENT AND AGREEMENT TO SECOND AMENDMENT
TO CMP A & R CREDIT AGREEMENT]Letter Agreement by and among Chesapeake Midstream GP, L.L.C

 Exhibit 10.2 
 EXECUTION VERSION 
 CHESAPEAKE MIDSTREAM GP, L.L.C. 

June 15, 2012 
 Chesapeake Energy Corporation

 6100 North Western Avenue 
 Oklahoma
City, Oklahoma 73118 
 Re: Letter Agreement regarding (1) amendment to (a) Amended and Restated Services Agreement, (b) Amended
and Restated Employee Secondment Agreement, (c) Amended and Restated Employee Transfer Agreement, and (d) Amended and Restated Trademark License and Intellectual Property Agreement and (2) termination of Amended and Restated Shared
Services Agreement. 
 Sir or Madam: 

This letter (“Letter Agreement”) sets forth the terms of our understanding relating to the transition services Chesapeake Energy
Corporation and certain of its subsidiaries (collectively, “you”) will continue to provide to Chesapeake Midstream GP, L.L.C. and certain of its subsidiaries (collectively “we” or “us”) as described
below following the sale of your ownership interests in us pursuant to (i) that certain Purchase Agreement dated June 7, 2012, by and among Chesapeake Midstream Holdings, L.L.C. (“CMH”), GIP II Eagle 1 Holding, L.P., GIP
II Eagle 2 Holding, L.P. and GIP II Eagle 3 Holding, L.P. (the “First Purchase Agreement”) and (ii) that certain Purchase Agreement dated June 7, 2012, between CMH and GIP II Eagle 4 Holding, L.P. (the “Second
Purchase Agreement” and, together with the First Purchase Agreement, the “Purchase Agreement”). In light of our mutual agreement that these services are required for a smooth transition in connection with such change of
ownership, we appreciate your willingness to continue to provide such services to us on the terms set forth below. 
 Reference is hereby made
to the following: 
  

	a.	Amended and Restated Services Agreement (“Services Agreement”), dated as of August 3, 2010, by and among Chesapeake Midstream Management, L.L.C.
(“Chesapeake Management”), Chesapeake Operating, Inc. (“COI,” and together with Chesapeake Management, “Chesapeake Entities”), Chesapeake Midstream GP, L.L.C. (“Company”),
Chesapeake Midstream Partners, L.P. (“Partnership”) and Chesapeake MLP Operating, L.L.C. (“MLP Operating”), pursuant to which the Chesapeake Entities provide certain services to the Company and its Subsidiaries (as
defined in the Services Agreement); 

  

	b.	Amended and Restated Employee Secondment Agreement (“Secondment Agreement”), effective immediately prior to the closing of the initial public offering
of the common units of the Partnership (“Effective Time”), by and among Chesapeake Energy Corporation (“CHK”), the Chesapeake Entities, the Company and MLP Operating, pursuant to which certain employees are seconded
to the Company; 

	c.	Amended and Restated Employee Transfer Agreement (“Transfer Agreement”), effective as of the Effective Time, by and among CHK, Chesapeake Management,
the Company and MLP Operating, pursuant to which the Company may provide offers of employment to certain employees seconded pursuant to the Secondment Agreement. 

 

	d.	Amended and Restated Shared Services Agreement (“Stice Agreement”), effective as of the Effective Time, by and among CHK, the Company, GIP-A Holding
(CHK), L.P., GIP-B Holding (CHK), L.P., GIP-C Holding (CHK), L.P. and MLP Operating, pursuant to which CHK directs and causes J. Michael Stice (“Stice”) to serve as Chief Executive Officer of the Company; and

  

	e.	Amended and Restated Trademark License and Intellectual Property Agreement (“IP Agreement,” and together with the Services Agreement, the Secondment
Agreement and the Transfer Agreement, the “Agreements”) effective as of August 3, 2010 by and between CHK, the Chesapeake Entities, MLP Operating, the Company, Chesapeake Midstream Ventures, L.L.C. (“Joint
Venture”), Chesapeake Midstream Gas Services, L.L.C., and Chesapeake Midstream Partners, L.P., pursuant to which (i) CHK licenses certain trademarks to the Joint Venture and certain of its subsidiaries and (ii) the parties
thereunder define their rights in certain intellectual property. 

 For good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties to this Letter Agreement agree that: 
  

	1.	Capitalized terms used in this Letter Agreement and not otherwise defined in this Letter Agreement will have the respective meanings given to those terms in the
Secondment Agreement. 

  

	2.	Except as expressly amended by this Letter Agreement, the Agreements are and shall continue to be in full force and effect and are hereby ratified and confirmed. This
Letter Agreement is limited as specified and will not constitute a modification, amendment, or waiver of any other provision of the Agreements. 

  

	3.	Effective as of the date of the CMO Disposition (as defined in the Purchase Agreement), the Stice Agreement is hereby terminated. 

 

	4.	The Services Agreement is hereby amended as follows: 

  

	 	a.	Section 6.1 is hereby amended and restated as follows: “Subject to the terms of this Article VI, the term of this Agreement shall be for the period beginning
on the Effective Date and ending on December 31, 2013 (the “Term”). At the end of the Term, this Agreement shall automatically terminate without written notice by either Party.” 

	 	b.	Exhibit A-1 is hereby amended by deleting Section 6. (Executive Management) in its entirety. 

 

	 	c.	Exhibit A-1 is hereby amended by adding “Travel Booking” and “Use of MyLearning” thereto as “G&A Services” under the Service
Agreement. 

  

	 	d.	The last sentence of Exhibit C is hereby amended and restated as follows: “Additional Services shall generally include, but not be limited to, engineering,
construction, procurement, business analysis, commercial, cartographic, engineering design and support, pipeline risk and integrity, ROW support, gas control, geographic information system (GIS), training, supply and management of inventory, and
other similar services that are not otherwise G&A Services.” 

  

	5.	Notwithstanding anything to the contrary in Section 2.4 of the Services Agreement, the parties hereto agree as follows: 

 

	 	a.	Other than Directors & Officers Liability insurance, which will be provided by us and effective on June 15, 2012, you will provide to us, our properties
and our businesses, through June 29, 2012 the insurance coverage required to be provided pursuant to the Services Agreement. 

  

	 	b.	Other than Fiduciary Liability and Workers Compensation insurance, as of June 29, 2012, all other insurance coverage provided to us, our properties and our
businesses shall terminate. 

  

	 	c.	You will continue to provide Fiduciary Liability and Workers Compensation insurance coverage to us through the Termination Date (as defined in Section 10 of this
Letter Agreement). 

  

	 	d.	All surety bonds placed on behalf of us that fall under the indemnity agreement between CHK and Liberty Mutual (formerly Safeco) or RLI Insurance Company
(“RLI”) shall remain in effect. We will work with the obligees thereunder to effectively transfer the bonds to us, and will promptly notify you upon the completion of such transfers. The Indemnity Agreement (which is attached as
Annex A to the Services Agreement) shall remain in effect until all such bonds are replaced and released by the obligees. If CHK is required, at any point in the future, to post collateral under its indemnity agreement with Liberty Mutual (formerly
Safeco) or RLI, we agree to post such collateral, in the form of a letter of credit, directly to you, Liberty Mutual or RLI for the bonds that fall under this paragraph. If any bonds remain in effect upon termination of this Letter Agreement, we
agree to post collateral, in the form of a letter of credit, to you for the full amount of the bonds. 

  

	 	e.	Upon the termination or cancellation of any one or more insurance policies as it relates to us, our properties and/or our businesses, you will provide us with a pro
rata credit or best credit negotiated with insurers of the applicable insurance premiums relating to the unused term of the terminated or cancelled policies. 

	 	f.	For the avoidance of doubt, termination of any insurance coverage shall not terminate any insurance support services under the Services Agreement. Such services will
remain in force until they are terminated in accordance with the terms and conditions of the Services Agreement. 

  

	6.	The parties hereto shall cooperate with each other to identify those assets necessary for us to operate our businesses after the termination of the services provided
under the Services Agreement (the “Services Assets”). The Services Assets include, but are not limited to, ETS-related systems (software, hardware and other interface work), IT equipment, office furniture, and inventory. No later
than 60 days after the Closing Date under the Second Purchase Agreement, the parties hereto will create a schedule listing all the Services Assets. 

  

	7.	Notwithstanding anything to the contrary in Section 6.6 of the Services Agreement, if, following the termination of the Services Agreement or termination of any
particular service or subcategory of services in accordance with Section 6.2 of the Services Agreement, we acquire from you ownership of any Services Assets (other than ETS-related systems which is addressed in Section 8 below), we will
pay to you the product of (i) fair market value for the remaining life of any such Services Asset and (ii) CHK’s percentage ownership of such Services Asset at the time of such acquisition. 

 

	8.	The parties hereto acknowledge and agree that ETS and related systems are jointly-used assets and will need to be replicated in order for all parties to enjoy the
benefits thereof. The parties hereto agree to share in the costs involved in the allocation and replication of such assets and shall work together in good faith to develop a reasonable costsharing arrangement with respect to these assets.

  

	9.	The parties hereto agree that Exhibit A to the Secondment Agreement is hereby amended effective as of the Closing Date of the Second Purchase Agreement to add those
certain key employees listed on Exhibit A to this Letter Agreement (with such revisions thereto as mutually agreed to by the parties made by the Closing Date of the Second Purchase Agreement) as Seconded Employees and, to the extent indicated on
Exhibit A, Shared Services Employees. With respect to Stice, effective as of the date of the CMO Disposition, Stice will be added to Exhibit A of the Secondment Agreement and become a Seconded Employee, and notwithstanding anything in the Secondment
Agreement to the contrary with respect to Stice, the Company shall only be obligated to reimburse CHK for equity awards, including restricted stock awards, made by CHK to Stice to the extent such reimbursement would have been required under
Section 2.1.2 of the Stice Agreement had it remained in effect and any such reimbursement shall be subject to reduction and proration in accordance with Section 4.2.2 of the Secondment Agreement. 

	10.	The Transfer Agreement and Secondment Agreement shall each be deemed amended to the extent necessary to provide that, notwithstanding any provision to the contrary in
the Transfer Agreement or the Secondment Agreement (including, without limitation, Section 4.1(d) of the Transfer Agreement), the Transfer Agreement and Secondment Agreement shall remain in full force and effect through December 31, 2012
or, if written notice is provided to CHK by the Company prior to December 31, 2012, the date provided in such written notice which shall not be later than March 31, 2013 (the later of December 31, 2012 or the date provided in such
notice, the “Termination Date”). 

  

	11.	The last sentence of Section 2.1(b) of the Transfer Agreement shall be deleted and replaced in its entirety with the following: 

“Notwithstanding the foregoing, neither Chesapeake Management nor any of its Affiliates (other than CMV, the General Partner, the MLP
and their Subsidiaries) will hire or continue to employ, as applicable, (i) any Seconded Employee who does not become a Transferred Employee because the Seconded Employee failed to accept a satisfactory offer under Section 2.1 until more
than nine (9) months after such rejection occurs, (ii) any Transferred Employee until more than nine (9) months after the Transfer Date (as defined in the Transfer Agreement) or (iii) any other employee of CMV, the General
Partner, the MLP or their Subsidiaries until more than nine (9) months after the Transfer Date.” 
  

	12.	The parties hereto will cooperate with each other to (i) identify those employees of CHK, Chesapeake Midstream Operating, L.L.C. and their Affiliates (the
“Additional Employees”) providing services to the Company, the Partnership and their Subsidiaries that are necessary for the Company, the Partnership and their Subsidiaries to operate their respective businesses after the
Termination Date and (ii) no later than 60 days after the Closing Date of the Second Purchase Agreement (a) create a mutually agreeable schedule (the “Additional Employee Schedule”) listing all such Additional Employees
and (b) amend Exhibit A to the Secondment Agreement to add such Additional Employees listed on the Additional Employee Schedule as Seconded Employees and, to the extent indicated on the schedule listing such Additional Employees, as Shared
Services Employees. 

  

	13.	Those Seconded Employees that have been designated as Shared Services Employees will not have any obligation to perform the Shared Services after the date on which CHK
ceases to hold any ownership interest in Chesapeake Midstream Operating, L.L.C. Furthermore, the last two sentences of Section 2.5 of the Secondment Agreement are hereby amended and restated as follows: 

“If upon review of the hours a Shared Services Employee has worked on Chesapeake Entity matters, the General Partner wishes to
restrict further or eliminate such work for Chesapeake Entities by a Shared Services Employee, the General Partner will give Chesapeake Management at least 14 days’ notice of that restriction or elimination. After the expiration of the 14-day
notice period, the level of work for Chesapeake Entities by the Shared Services Employee addressed in the notice will be governed by the restriction or elimination stated by the General Partner in its notice.” 

	14.	The first sentence of Section 13 of the IP Agreement is hereby amended and restated as follows: “Unless previously terminated in its entirety as provided for
in this Section 13, this Agreement shall remain in full force and effect until December 31, 2012 (the “Term”).” 

  

	15.	You agree to cooperate with us in connection with our obtaining a new trade name for our businesses. 

 

	16.	The reference in this Letter Agreement to any section or subsection of any Agreement shall be deemed to amend all other sections and subsections of such Agreement to
the extent such other sections and subsections conflict with such amendment. 

  

	17.	This Letter Agreement will be governed by and construed in accordance with the laws of the State of Delaware (except to the extent any terms of this Letter Agreement
must be interpreted in light of the law of the state in which Stice or an employee seconded pursuant to the Secondment Agreement is employed), without regard to principles of conflicts of law. This Letter Agreement may be executed in multiple
counterparts, each of which taken together will constitute one and the same instrument. 

 [signature page
follows] 

 
					
	Very truly yours,
	
	CHESAPEAKE MIDSTREAM GP, L.L.C.
		
	By:	 	/s/ J. MIKE STICE
	Name:	 	J. Mike Stice
	Title:	 	Chief Executive Officer
	
	CHESAPEAKE MIDSTREAM PARTNERS, L.P.
		
		 	By: Chesapeake Midstream GP, L.L.C., its sole general partner
			
		 	By:	 	/s/ J. MIKE STICE
		 	Name:	 	J. Mike Stice
		 	Title:	 	Chief Executive Officer
	
	CHESAPEAKE MLP OPERATING, L.L.C.
		
	By:	 	/s/ J. MIKE STICE
	Name:	 	J. Mike Stice
	Title:	 	Chief Executive Officer

 Signature page to Transition Services Letter Agreement 

			
	ACKNOWLEDGED AND AGREED AS OF THE DATE
FIRST WRITTEN ABOVE:
	
	CHESAPEAKE ENERGY CORPORATION
		
	By:	 	/s/ JENNIFER M. GRIGSBY
	Name:	 	Jennifer M. Grigsby
	Title:	 	Senior Vice President, Treasurer and Corporate Secretary
	
	CHESAPEAKE MIDSTREAM MANAGEMENT, L.L.C.
		
	By:	 	/s/ JENNIFER M. GRIGSBY
	Name:	 	Jennifer M. Grigsby
	Title:	 	Senior Vice President, Treasurer and Corporate Secretary
	
	CHESAPEAKE OPERATING, INC.
		
	By:	 	/s/ JENNIFER M. GRIGSBY
	Name:	 	Jennifer M. Grigsby
	Title:	 	Senior Vice President, Treasurer and Corporate Secretary

 Signature page to Transition Services Letter Agreement 

			
	ACKNOWLEDGED AND AGREED AS OF
THE DATE FIRST WRITTEN ABOVE:
	
	GIP-A HOLDING (CHK), L.P.
	
	    By: GIP-A Holding (CHK) GP, LLC, its sole general partner
		
	    By:	 	/s/ ADEBAYO OGUNLESI
	    Name:	 	Adebayo Ogunlesi
	    Title:	 	President
	
	GIP-B HOLDING (CHK), L.P.
	
	    By: GIP-B Holding (CHK) GP, LLC, its sole general partner
		
	    By:	 	/s/ ADEBAYO OGUNLESI
	    Name:	 	Adebayo Ogunlesi
	    Title:	 	President
	
	GIP-C HOLDING (CHK), L.P.
	
	    By: GIP-C Holding (CHK) GP, LLC, its sole general partner
		
	    By:	 	/s/ ADEBAYO OGUNLESI
	    Name:	 	Adebayo Ogunlesi
	    Title:	 	President

 Signature page to Transition Services Letter Agreement

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