Document:

Form of Phantom Unit Grant under 2010 Long-Term Incentive Plan

 Exhibit 10.6 
 ATLAS ENERGY, L.P. 
 2010 LONG-TERM INCENTIVE PLAN 

PHANTOM UNIT GRANT AGREEMENT 
 THIS AGREEMENT, made as of this     day of         , 20    (the “Date of Grant”) by and between
                    , (the “Grantee”) and ATLAS ENERGY, L.P. (together with its successors and assigns hereinafter referred to as the
“Partnership”). 
 WHEREAS, the Partnership’s 2010 Long-Term Incentive Plan (the “Plan”)
provides for the grant of phantom units in accordance with the terms and conditions of the Plan; and 
 WHEREAS, the
Committee has determined that it would be in the best interest of the Partnership to grant the phantom units described herein on the terms and conditions hereinafter set forth; and 

WHEREAS, capitalized terms used herein and not otherwise defined herein shall have the respective meanings ascribed thereto in the
Plan. 
 NOW, THEREFORE, the parties hereto, intending to be legally bound hereby, agree as follows: 

 

	 	1.	Grant of Phantom Units. 

 Subject to the terms and conditions set forth in this Agreement and the Plan, the Partnership hereby grants the Grantee             phantom
units, subject to the restrictions set forth below and in the Plan (the “Phantom Units”). 
  

	 	2.	Phantom Unit Account. 

 Phantom Units represent hypothetical common units of the Partnership (“Units”), and not actual Units. The Partnership shall establish and maintain a Phantom Unit account, as a bookkeeping
account on its records, for the Grantee and shall record in such account the number of Phantom Units granted to the Grantee. No Units shall be issued to the Grantee at the time the grant is made, and the Grantee shall not be, nor have any of the
rights or privileges of, a unitholder of the Partnership with respect to any Phantom Units recorded in the account. The Grantee shall not have any interest in any fund or specific assets of the Partnership by reason of this grant or the Phantom Unit
account established for the Grantee. 

	 	3.	Vesting. 

The Phantom Units shall be subject to forfeiture until the Phantom Units vest. The Phantom Units shall become vested according to the
following schedule, if the Grantee continues to be employed by, or provide service to Atlas Energy GP, LLC, the Partnership or one of their Affiliates (collectively, “Atlas”) on the applicable vesting date: 

 

					
	 Vesting Date
	  	Vested Phantom units	 
	 [First anniversary of the Date of Grant
	  	 	 	% 
	 Second anniversary of the Date of Grant
	  	 	 	% 
	 Third anniversary of the Date of Grant
	  	 	 	% 
	 Fourth anniversary of the Date of Grant
	  	 	 	%] 

 The vesting of the Phantom Units shall be cumulative, but shall not exceed 100% of the Phantom Units. 

 

	 	4.	Termination of Phantom Units. 

 (a) Except as provided below, upon the Grantee’s termination of employment with Atlas (“Termination of Employment”) or termination of service (“Termination of Service”) to Atlas
for any reason before all of the Phantom Units vest, any unvested Phantom Units shall automatically terminate and shall be forfeited as of the date of the Grantee’s Termination of Employment. No issuance of Units shall be made with respect to
any unvested Phantom Units that terminate as described in this Section 4. 
 (b) Upon the Grantee’s
Termination of Employment or Termination of Service by reason of death, any unvested Phantom units shall immediately vest. 
 (c) Upon the Grantee’s Termination of Employment or Termination of Service by reason of Disability, the unvested Phantom units shall immediately vest. 

 

	 	5.	Payment of Phantom Units. 

 (a) If and when the Phantom Units vest, the Partnership shall issue to the Grantee one Unit for each vested Phantom Unit, subject to the Grantee’s payment of withholding taxes as described below.
Issuance of Units shall be made within 30 days after the vesting date, subject to the Grantee’s payment of withholding taxes as described below. 
 (b) All distributions under this Agreement are subject to applicable federal (including FICA), state and local tax withholding, in accordance with Section 8(b) of the Plan. Unless the Committee
determines otherwise, the Grantee or other person entitled to payment under this Agreement shall be required to pay to Atlas the amount of any taxes that Atlas is required to withhold with respect to the Phantom Units. Atlas may also deduct from any
compensation or other amounts owing to the Grantee, including by payroll deduction or withholding of Units, the amount of any applicable taxes with respect to the Phantom Units. If the Committee determines that Units may be used to satisfy tax
withholding, such Units shall be valued based on their Fair Market Value at the time the tax withholding is required to be made; provided, however, that not more 

  
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than the legally required minimum tax withholding amount may be settled by Unit withholding. If Atlas fails to pay any required tax withholding amount in the manner specified by Atlas or its
agent when the Phantom Units become taxable, after receiving written notice from Atlas or its agent, Atlas is authorized to cancel such Phantom Units, in which case the Phantom Units shall be forfeited and shall not be paid to the Grantee.

 (c) The obligation of the Partnership to deliver Units shall also be subject to the condition that if at any
time the Committee shall determine in its discretion that the listing, registration or qualification of the Units upon any securities exchange or under any state or federal law, or the consent or approval of any governmental regulatory body is
necessary or desirable as a condition of, or in connection with, the issue of Units, the Units may not be issued in whole or in part unless such listing, registration, qualification, consent or approval shall have been effected or obtained free of
any conditions not acceptable to the Committee. The issuance of Units to Grantee pursuant to this Agreement is subject to any applicable taxes and other laws or regulations of the United States or of any state having jurisdiction thereof.

  

	 	6.	Distribution Equivalent Rights with respect to Phantom Units.  

 Until such time as the Phantom Units are paid or forfeited, if a distribution is paid by the Partnership on its Units, the Partnership shall pay to the Grantee, in cash, the amount of the corresponding
Distribution Equivalent attributable to the Grantee’s then outstanding Phantom Units. The Distribution Equivalent shall be paid to the Grantee on the date on which the distribution is paid by the Partnership on Units. 

 

	 	7.	Change in Control. 

The provisions of the Plan applicable to a Change in Control shall apply to the Phantom Units, and, in the event of a Change in Control,
the Committee may take such actions as it deems appropriate pursuant to the Plan. 
  

	 	8.	Grant Subject to Plan Provisions. 

 This grant is made pursuant to the Plan, the terms of which are incorporated herein by reference, and in all respects shall be interpreted in accordance with the Plan. The grant and payment of the Phantom
Units are subject to interpretations, regulations and determinations concerning the Plan established from time to time by the Committee in accordance with the provisions of the Plan, including, but not limited to, provisions pertaining to
(i) the registration, qualification or listing of the Units, (ii) changes in capitalization of the Partnership and (iii) other requirements of applicable law. The Committee shall have the authority to interpret and construe the
Phantom Units pursuant to the terms of the Plan, and its decisions shall be conclusive as to any questions arising hereunder. 

  
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	 	9.	Restrictive Covenants. 

 As a condition of this grant, the Grantee agrees as follows: 
 (a)
The Grantee agrees, at all times, to hold in strict confidence all Confidential Information (as defined below) and never, during the course of the Grantee’s employment with Atlas or thereafter, to make any use of such information except as (and
then, only to the extent) required to perform the Grantee’s duties. The restrictions of this paragraph (a) shall not apply to information or data that the Grantee can establish is or has become known to the public generally through no
fault of the Grantee or has come into the Grantee’s possession lawfully and not through the Grantee’s employment or service as the case may be. 
 (i) For purposes of this Agreement, “Confidential Information” means all commercially sensitive information and data, in whatever format, originated by, or on behalf of, or within the knowledge
or possession of, Atlas, or any independent contractor performing services on behalf of Atlas. Without limiting the foregoing, Confidential Information includes, but is not limited to, information that has been designated as proprietary or
confidential; information constituting trade secrets; information that, by the nature of the surrounding circumstances, should be treated as proprietary or confidential; and information or data conceived, discovered or developed in whole or in part
by the Grantee while employed by or providing services to Atlas. 
 (ii) The Grantee acknowledges that the
Grantee’s relationship with Atlas is one of confidence and trust such that the Grantee has in the past been, and may in the future be, privy to Confidential Information of Atlas. 

(b) The Grantee agrees that during the Grantee’s employment or provision of services with Atlas and for a period of
12 months following termination of the Grantee’s employment with or provision of services to Atlas, regardless of the reason for such termination: 
 (i) The Grantee will not, directly or indirectly, solicit, or attempt to solicit, for employment, with the Grantee or with any other person or entity, any employee, consultant, and/or other independent
contractor of Atlas, nor will the Grantee, directly or indirectly, solicit or induce, or attempt to solicit or induce, any such individual to leave his or her employment with Atlas or to terminate his or her agreement to provide services to Atlas.

 (ii) The Grantee will not, directly or indirectly, solicit, or attempt to solicit, any lease or other interest
in oil and gas or real property benefitting oil and gas operations for the Grantee, or for any other person or entity, from any lessor and/or transferor of oil and gas rights (or holder of any right of way) or prospective lessor and/or transferor of
such rights of Atlas (a) with which/whom the Grantee had contact within the 12 months prior to the termination of the Grantee’s employment with Atlas or (b) for which the Grantee had access to Confidential Information, during and by
virtue of the Grantee’s employment or service with Atlas. 
 (c) The Grantee acknowledges and agrees that
the restrictions contained in this Section 9 are reasonable and necessary to protect the legitimate business interests of Atlas and that the Partnership would not have entered into this Agreement in the absence of such restrictions. 

  
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 (d) The Grantee acknowledges and agrees that any breach by the Grantee of
any of the covenants or agreements contained in this Section 9 will result in irreparable injury to Atlas, for which Atlas may be entitled to any remedy at law or equity, including specific performance of the Grantee’s obligations under
this Section 9, as well as injunctive relief without the posting of any bond, such as may be granted by a court with competent jurisdiction. 
 (e) In addition to the foregoing remedies, the Grantee agrees that in the event the Grantee breaches any of the covenants or agreements contained in this Section 9: 

(i) The Committee may determine that the Grantee’s unvested Phantom Units shall be cancelled and forfeited without
payment by the Partnership, and 
 (ii) The Committee may require that the Grantee return to the Partnership any
vested Units paid to the Grantee (or the Fair Market Value of such Units) pursuant to this Agreement at such date and on such terms and conditions as the Committee deems appropriate. Atlas shall exercise the right of recoupment provided in this
Section 9(e)(ii) within two years after the Grantee’s breach of any of the covenants or agreements contained in this Section 9, and the Partnership shall be entitled to set off against the amount of any such gain any amounts owed to
the Participant by Atlas. 
 (f) If any provision of this Section 9 or the application hereof is determined
by any court with competent jurisdiction to be invalid or unenforceable, the other portions of this Section 9 or the application thereof shall not be affected and shall be given full force and effect without regard to the invalid or
unenforceable portions to the fullest extent possible. If any court of competent jurisdiction determines that any provision of this Section 9 is unenforceable, then the Grantee agrees to the reformation of any such covenant or agreement by the
court to limits that the courts finds to be enforceable. 
 (g) The provisions of this Section 9 shall
survive the termination of this Agreement and termination of the Grantee’s employment with or the provision of services to Atlas, as the case may be. 
  

	 	10.	Adjustment of and Changes in Units of the Partnership. 

 In the event that any transaction or event affects the Units such that an adjustment is necessary in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made
available under the Plan, the Committee or the Board shall make such adjustment to this grant of Phantom Units as is provided for in Section 4(a) of the Plan. 
  

	 	11.	No Employment or Other Rights. 

 The grant shall not confer upon the Grantee any right to be retained by or in the employ or service of Atlas and shall not interfere in any way with the right of Atlas to terminate the

  
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Grantee’s employment or service at any time. The right of Atlas to terminate at will the Grantee’s employment or service pursuant to or in the absence of a contract at any time for any
reason is specifically reserved. 
  

	 	12.	No Unitholder Rights. 

 Neither the Grantee, nor any person entitled to receive payment in the event of the Grantee’s death, shall have any of the rights and privileges of a Unitholder until the Units have vested and have
been issued to Grantee. 
  

	 	13.	Assignment and Transfers. 

 Except as the Committee may otherwise permit pursuant to the Plan, the rights and interests of the Grantee under this Agreement may not be sold, assigned, encumbered or otherwise transferred except, in
the event of the death of the Grantee, by will or by the laws of descent and distribution. In the event of any attempt by the Grantee to alienate, assign, pledge, hypothecate, or otherwise dispose of the Phantom Units or any right hereunder, except
as provided for in this Agreement, or in the event of the levy or any attachment, execution or similar process upon the rights or interests hereby conferred, the Partnership may terminate the Phantom Units by notice to the Grantee, and the Phantom
Units and all rights hereunder shall thereupon become null and void. The rights and protections of Atlas hereunder shall extend to any successors or assigns of Atlas. This Agreement may be assigned to a third party by the Atlas without the
Grantee’s consent. 
  

	 	14.	Applicable Policies. 

 The grant made pursuant to this Agreement shall be subject to any applicable clawback and other policies established by the Board or the Committee from time to time. 

 

	 	15.	Applicable Law. 

The validity, construction, interpretation and effect of this Agreement shall be governed by and construed in accordance with the laws of
the State of Delaware, without giving effect to the conflicts of laws provisions thereof, except that Section 9 shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania, without giving effect to the
conflicts of laws provisions thereof. 
  

	 	16.	Section 409A. 

This Agreement is intended to comply with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), or an
exemption, and payments may only be made under this Agreement upon an event and in a manner permitted by Section 409A of the Code, to the extent applicable. To the maximum extent permitted under Section 409A of the Code, the benefits
provided under this Agreement are intended to be subject to a “substantial risk of forfeiture” under Section 409A of the Code, and will be paid within the “short term deferral period” following the lapse of the applicable
forfeiture conditions. In no event may the Grantee, directly or indirectly, designate the calendar year of a payment. Notwithstanding anything in this 

  
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Agreement to the contrary, if required by Section 409A of the Code, if the Grantee is considered a “specified employee” for purposes of Section 409A of the Code and if payment
of any amounts under this Agreement is required to be delayed for a period of six months after separation from service pursuant to Section 409A of the Code, payment of such amounts shall be delayed as required by Section 409A of the Code,
and the accumulated amounts shall be paid in a lump sum payment within ten days after the end of the six-month postponement period. If the Grantee dies during the six-month postponement period prior to the payment of benefits, the amounts withheld
on account of Section 409A of the Code shall be paid to the personal representative of the Grantee’s estate within 60 days after the date of the Grantee’s death. 

 

	 	17.	Amendment. 

 This Agreement may be amended by the Board or the Committee at any time, subject to the provisions of Section 7(b) of the Plan. 

 

	 	18.	Notice. 

 Any notice to the Partnership provided for in this Agreement shall be addressed to the Partnership in care of its Chief Legal Officer at its executive offices at 1845 Walnut Street, 10th Floor, Philadelphia, Pennsylvania 19103 or at such other address as
to which the Partnership shall have notified Grantee in writing, and any notice to the Grantee shall be addressed to such Grantee at the current address shown on the payroll of Atlas, or to such other address as the Grantee may designate to Atlas.
Any notice shall be delivered by hand or by a recognized courier service such as FedEx or UPS, sent by telecopy or enclosed in a properly sealed envelope addressed as stated above, registered and deposited, postage prepaid, in a post office
regularly maintained by the United States Postal Service. 
 [SIGNATURES CONTAINED ON FOLLOWING PAGE]

  
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 IN WITNESS WHEREOF, this Phantom Unit Grant Agreement has been duly executed as of
the Date of Grant. 
  

			
	ATLAS ENERGY, L.P.
		
	By:	 	Atlas Energy GP, LLC, its general partner
		
	By:	 	  

		 	Lisa Washington, Chief Legal Officer

 I hereby accept the award of Phantom Units described in this Agreement, and I agree to be bound by the terms of the
Plan and this Agreement. I hereby agree that all of the decisions and determinations of the Committee or Board with respect to the Phantom Units shall be final and binding. 

 

							
		 		  	  
	  	
	Date	 		  	                    , Grantee	  	

  
 8Form of Stock Option Grant under 2010 Long Term-Incentive Plan

 Exhibit 10.7 
 ATLAS ENERGY, L.P. 
 2010 LONG-TERM INCENTIVE PLAN 

OPTION GRANT AGREEMENT 
 THIS AGREEMENT, made as of this      day of         , 20      (the “Grant Date”) by and between
                    , (“Participant”) and ATLAS ENERGY, L.P. (together with its successors and assigns hereinafter referred to as, the
“Partnership”). 
 WHEREAS, the Partnership’s 2010 Long-Term Incentive Plan (the “Plan”)
provides for the granting of Options by the Committee to Employees of Atlas Energy GP, LLC, the Partnership or one of their Affiliates (collectively, “Atlas”), in accordance with the terms and provisions thereof; and 

WHEREAS, the Committee has determined that it would be in the best interest of the Partnership to grant the Options described
herein on the terms and conditions hereinafter set forth; and 
 WHEREAS, capitalized terms used herein and not otherwise
defined herein shall have the respective meanings ascribed thereto in the Plan. 
 NOW, THEREFORE, the parties hereto,
intending to be legally bound hereby, agree as follows: 
  

	 	1.	Grant of Option. 

Subject to the terms and conditions hereinafter set forth, the Partnership, with the approval and at the direction of the Committee,
hereby grants to the Participant, an Option to purchase up to              units of limited partner interest of the Partnership (the “Units”), at an exercise price of $
         per Unit. Such option is hereinafter referred to as the “Option” and the Units purchasable upon exercise of the Option are hereinafter sometimes referred to as the “Option Units.”
The Option is not intended to be an Incentive Stock Option. 
  

	 	2.	Installment Exercise. 

 Subject to such further limitations as are provided herein, the Option shall become exercisable in [        ] installments, the Participant having the right
hereunder to purchase from the Partnership the following number of Option Units upon exercise of the Option, on and after the following dates, in cumulative fashion, if the Participant continues to be employed by, or provide service to Atlas through
the applicable date: 

 (a) [on and after the first anniversary of the Grant Date, up to      %
(ignoring fractional Units) of the total number of Option Units; 
 (b) on and after the second anniversary of the Grant Date,
up to an additional     % (ignoring fractional Units) of the total number of Option Units; 
 (c) on and
after the third anniversary of the Grant Date, up to an additional     % (ignoring fractional Shares) of the total number of Option Shares; and 
 (d) on and after the fourth anniversary of the Grant Date, the remaining Option Shares.] 
  

	 	3.	Termination of Option. 

 (a) The Option and all rights hereunder with respect thereto, to the extent such rights shall not have been exercised or terminated earlier in accordance with the terms of this Agreement, shall terminate
and become null and void after the expiration of ten (10) years from the Grant Date (the “Option Term”). 
 (b)
Upon the Participant’s termination of employment by Atlas (“Termination of Employment”) or termination of service to Atlas (“Termination of Service”) by reason of Disability, the portion of the Option that was outstanding
and exercisable as of such Termination of Employment may be exercised by the Participant during the six (6)-month period following the date of Termination of Employment by reason of Disability, but not later than the end of the Option Term.

 (c) Upon the Participant’s Termination of Employment or Termination of Service by reason of death, any unvested portion
of the Option shall immediately vest in full and become exercisable by the Participant’s legal representative for the one (1) year period following the date of Termination of Employment or Termination of Service, but not later than the end
of the Option Term. 
 (d) Upon the Participant’s Termination of Employment or Termination of Service for Cause, any
unexercised portion of the Option shall immediately terminate and become null and void. 
 (e) Upon the Participant’s
Termination of Employment or Termination of Service other than as provided for in Sections 3(b), (c) and (d) above, the portion of the Option that was outstanding and exercisable as of such Termination of Employment or Termination of
Service may only be exercised during the ninety (90) day period following such Termination of Employment or Termination of Service, but not later than the end of the Option Term. 

(f) A transfer of the Participant’s employment between the Partnership and any Subsidiary or Affiliate, or between any Subsidiaries
or Affiliates, shall not be deemed to be a Termination of the Employment. 

  
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	 	4.	Exercise of Option.  

 (a) The Participant may exercise the Option with respect to all or any part of the Option Units granted hereunder by giving the Partnership or its delegate notice of intent to exercise, according to
procedures established by the Partnership. The notice of exercise shall specify the number of Option Units as to which the Option is to be exercised, the exercise date and other information required by the Partnership or its delegate. 

(b) Full payment (in U.S. dollars) by the Participant of the exercise price for the Option Units purchased, and the applicable tax
withholding amount, shall be made on or before the exercise date in cash, or, as and to the extent permitted by the Committee, the exercise price may be paid by any of the other methods allowed under Section 6(a) of the Plan. 

(c) As soon as is practicable after the exercise date, the Partnership shall cause to be delivered to the Participant the Option Units
then being purchased (out of theretofore unissued Units or reacquired Units, as the Partnership may elect) upon full payment for such Option Units. The obligation of the Partnership to deliver Units shall, however, be subject to the conditions set
forth in the Plan (including, without limitation, under Section 6(d) thereof). 
 (d) If the Participant fails to pay for
any of the Option Units exercised or fails to accept delivery thereof, the Participant’s right to purchase such Option Units may be terminated by the Partnership. 
 (e) Any exercise of the Option shall be subject to applicable federal (including FICA), state and local tax withholding, in accordance with Section 8(b) of the Plan. Unless the Committee determines
otherwise, the Participant or other person exercising the Option shall be required to pay to Atlas the amount of any taxes that Atlas is required to withhold with respect to exercise of the Option. Atlas may also deduct from any compensation or
other amounts owing to the Participant, including by payroll deduction or withholding of Option Units, the amount of any applicable taxes with respect to the Option. If the Committee determines that Option Units may be used to satisfy tax
withholding, such Option Units shall be valued based on their Fair Market Value at the time the tax withholding is required to be made; provided, however, that not more than the legally required minimum tax withholding amount may be settled
by Option Unit withholding. If the Participant fails to pay any required tax withholding amount in the manner specified by Atlas when the Option is exercised, after receiving written notice from Atlas, Atlas is authorized to cancel the Option, in
which case the Option shall be forfeited and shall not be exercisable. 

  
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	 	5.	Change in Control. 

 The provisions of the Plan applicable to a Change in Control shall apply to the Options, and, in the event of a Change in Control, the Committee may take such actions as it deems appropriate pursuant to
the Plan. 
  

	 	6.	Restrictive Covenants. 

 As a condition of this grant, the Participant agrees as follows: 
 (a) The
Participant agrees, at all times, to hold in strict confidence all Confidential Information (as defined below) and never, during the course of the Participant’s employment with, or provision of services to, Atlas or thereafter, to make any use
of such information except as (and then, only to the extent) required to perform the Participant’s employment duties. The restrictions of this paragraph (a) shall not apply to information or data that the Participant can establish is or
has become known to the public generally through no fault of the Participant or has come into the Participant’s possession lawfully and not through the Participant’s employment. 

(i) For purposes of this Agreement, “Confidential Information” means all commercially sensitive information and data, in
whatever format, originated by, or on behalf of, or within the knowledge or possession of, Atlas, or any independent contractor performing services on behalf of Atlas. Without limiting the foregoing, Confidential Information includes, but is not
limited to, information that has been designated as proprietary or confidential; information constituting trade secrets; information that, by the nature of the surrounding circumstances, should be treated as proprietary or confidential; and
information or data conceived, discovered or developed in whole or in part by the Participant while employed by, or providing services to, Atlas. 
 (ii) The Participant acknowledges that the Participant’s relationship with Atlas is one of confidence and trust such that the Participant has in the past been, and may in the future be, privy to
Confidential Information of Atlas. 
 (b) The Participant agrees that during the Participant’s employment with, or
provision of services to, Atlas and for a period of 12 months following termination of the Participant’s employment with, or provision of services to, Atlas, regardless of the reason for such termination: 

(i) The Participant will not, directly or indirectly, solicit, or attempt to solicit, for employment, with the Participant or with any
other person or entity, any employee, consultant, and/or other independent contractor of Atlas, nor will the Participant, directly or indirectly, solicit or induce, or attempt to solicit or induce, any such individual to leave his or her employment
with Atlas or to terminate his or her agreement to provide services to Atlas. 
 (ii) The Participant will not, directly or
indirectly, solicit, or attempt to solicit, any lease or other interest in oil and gas or real property benefitting oil and gas operations for the Participant, or for any other person or entity, from any lessor and/or

  
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transferor of oil and gas rights (or holder of any right of way) or prospective lessor and/or transferor of such rights of Atlas (a) with which/whom the Participant had contact within the 12
months prior to the termination of the Participant’s employment with, or provision of services to, Atlas or (b) for which the Participant had access to Confidential Information, during and by virtue of the Participant’s employment or
service with Atlas. 
 (c) The Participant acknowledges and agrees that the restrictions contained in this Section 6 are
reasonable and necessary to protect the legitimate business interests of Atlas and that the Partnership would not have entered into this Agreement in the absence of such restrictions. 

(d) The Participant acknowledges and agrees that any breach by the Participant of any of the covenants or agreements contained in this
Section 6 will result in irreparable injury to Atlas, for which Atlas may be entitled to any remedy at law or equity, including specific performance of the Participant’s obligations under this Section 6, as well as injunctive relief
without the posting of any bond, such as may be granted by a court with competent jurisdiction. 
 (e) In addition to the
foregoing remedies, the Participant agrees that in the event the Participant breaches any of the covenants or agreements contained in this Section 6, the Committee may take any of the actions described in Section 14 of this Agreement.

 (f) If any provision of this Section 6 or the application hereof is determined by any court with competent jurisdiction
to be invalid or unenforceable, the other portions of this Section 6 or the application thereof shall not be affected and shall be given full force and effect without regard to the invalid or unenforceable portions to the fullest extent
possible. If any court of competent jurisdiction determines that any provision of this Section 6 is unenforceable, then the Participant agrees to the reformation of any such covenant or agreement by the court to limits that the courts finds to
be enforceable. 
 (g) The provisions of this Section 6 shall survive the termination of this Agreement and termination of
the Participant’s employment with, or provision of services to, Atlas. 
  

	 	7.	Adjustment of and Changes in Units of the Partnership. 

 In the event that any transaction or event affects the Units such that an adjustment is necessary in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made
available under the Plan, the Committee or the Board shall make such adjustment to the Option as is provided for in Section 4(a) of the Plan. 
  

	 	8.	No Rights as Unitholder. 

 Neither the Participant nor any personal representative shall be, or shall have any of the rights and privileges of, a unitholder of the Partnership with respect to any Units purchasable or issuable upon
the exercise of the Option, in whole or in part, prior to the date of exercise of the Option. 

  
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	 	9.	Non-Transferability of the Option. 

 During the Participant’s lifetime, the Option shall be exercisable only by the Participant or any guardian or legal representative of the Participant, and the Option shall not be transferable except,
in the case of death of the Participant, by will or the laws of descent and distribution, nor shall the Option be subject to attachment, execution or other similar process. In the event of (a) any attempt by the Participant to alienate, assign,
pledge, hypothecate or otherwise dispose of the Option, except as provided for herein, or (b) the levy of any attachment, execution or similar process upon the rights or interest hereby conferred, the Partnership may terminate the Option by
notice to the Participant and it shall thereupon become null and void. 
  

	 	10.	No Contract of Employment. 

 This Agreement shall not constitute a contract of employment, and shall not confer upon the Participant any right to continued employment or other service relationship with Atlas, nor shall it interfere
with or limit in any way the right of Atlas to terminate the employment or other service relationship of the Participant at any time. 
  

	 	11.	Amendment of Option. 

 The Option may be amended by the Board or the Committee at any time, subject to the provisions of Section 7(b) of the Plan. 

 

	 	12.	Notice. 

 Any notice to the Partnership provided for in this instrument shall be addressed to it in care of its Chief Legal Officer at its executive offices at 1845 Walnut Street, 10th Floor, Philadelphia, Pennsylvania 19103 or at such other address as
to which the Partnership shall have notified Participant in writing and any notice to the Participant shall be addressed to the Participant at the current address shown on the payroll records of the Partnership. Any notice shall be deemed to be duly
given if and when properly addressed and posted by registered or certified mail, postage prepaid. 
  

	 	13.	Incorporation of Plan by Reference. 

 The Option is granted pursuant to the terms of the Plan, the terms of which are incorporated herein by reference, and this Agreement shall in all respects be interpreted in accordance with the Plan. This
Agreement is subject to interpretations, regulations and determinations concerning the Plan established from time to time by the Committee in accordance with the provisions of the Plan, including, but not limited to, provisions pertaining to
(i) rights and obligations with respect to withholding taxes, (ii) the registration, qualification or listing of the Units, (iii) changes in capitalization of the 

  
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Partnership, and (iv) other requirements of applicable law. The Committee shall interpret and construe the Plan and this Agreement, and its interpretations and determinations shall be
conclusive and binding on the parties hereto and any other person claiming an interest hereunder, with respect to any issue arising hereunder or thereunder, all in accordance with the provisions of the Plan (including Section 3 thereof).

  

	 	14.	Cancellation and Rescission of Option. 

 (a) Notwithstanding anything in this Agreement to the contrary, the Committee may cancel, rescind, suspend, withhold or otherwise limit or restrict the exercise of the Option at any time if the
Participant (i) is convicted of a felony or a crime of moral turpitude with respect to the Partnership or its Subsidiaries or Affiliates; (ii) engages in fraud or embezzlement with respect to the Partnership or its Subsidiaries or
Affiliates; or (iii) materially breaches the Participant’s obligations under any written non-competition, non-solicitation or confidentiality agreement entered into between the Participant and Atlas, including any of the covenants and
agreements in Section 6 of this Agreement (each, a “Rescission Event”). 
 (b) Upon exercise of an Option,
the Committee may require that the Participant certify in a manner acceptable to the Committee that he or she has not engaged in any conduct that constitutes a Rescission Event. In the event that a Participant engages in conduct that
constitutes a Rescission Event before, or during the one-year period after, any exercise of the Option, such exercise may be rescinded by the Partnership within two years after the Participant engages in such conduct. In the event of any such
rescission, the Participant shall pay to the Partnership the amount of any gain realized or payment received as a result of the rescinded Option, in such manner and on such terms and conditions as may be required by the Committee, and the
Partnership shall be entitled to set off against the amount of any such gain any amounts owed to the Participant by Atlas. 
  

	 	15.	Applicable Policies. 

 The grant made pursuant to this Agreement shall be subject to any applicable clawback and other policies established by the Board or the Committee from time to time. 

 

	 	16.	Governing Law. 

This Agreement, and all determinations made and actions taken thereunder, shall be governed by and construed in accordance with the laws
of the State of Delaware, without reference to principles of conflict of laws, except that Section 6 shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania, without reference to principles of conflict
of laws thereof. 
 [SIGNATURES CONTAINED ON FOLLOWING PAGE] 

  
 7 

 IN WITNESS WHEREOF, the Partnership has caused its duly authorized officer to execute
and attest to this Grant of Unit Option and the Participant has placed his or her signature hereon, effective as of the date hereof. 
  

			
	ATLAS ENERGY, L.P.
		
	By:	 	Atlas Energy GP, LLC, its general partner
		
	By:	 	  

		 	Lisa Washington, Chief Legal Officer

 I hereby accept the Option described in this Agreement, and I agree to be bound by the terms of the Plan and this
Agreement. I hereby agree that all of the decisions and determinations of the Committee or Board with respect to the Option shall be final and binding. 
  

					
		 		  	  

	Date	 		  	                    , Participant

  

  
 8

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