Document:

Exhibit
10.1

Global
Partners LP

Long-Term Incentive Plan

Grant of
Phantom Units

With DERS

Grantee:                                                             

Grant Date:                                              ,
2007

Restricted Period:  January 1, 2007 to December 31, 2009

1.                                       Grant of Phantom Units with DERs.  Global GP LLC ( “GPLLC”) hereby grants to you
            
Phantom Units under the Global Partners LP Long-Term Incentive Plan (the
“Plan”) on the terms and conditions set forth herein and in the Plan, which is
incorporated herein by reference as a part of this Agreement. This grant of
Phantom Units includes a tandem grant of DERs as defined in the Plan with
respect to each Phantom Unit granted. 
GPLLC shall establish a DER bookkeeping account for you with respect to
each Phantom Unit granted, which account shall be credited with an amount equal
to any cash distributions made by Global Partners LP (the “Partnership”) on a Limited
Partner Unit during the period such Phantom Unit is outstanding.  No interest shall be credited on such DER
amounts.

2.                                       Vesting/Forfeitures.  Subject
to Paragraph 3 below, if the Performance Goal set forth on Attachment A
hereto is achieved, the Phantom Units and tandem DERs granted hereunder shall
vest on the date the Plan’s Committee determines that the Performance Goal for
the Restricted Period has been achieved. 
If the Committee determines that the Performance Goal for the Restricted
Period was not achieved, the Phantom Units and all credited tandem DERs are automatically
forfeited without payment effective immediately upon such determination.

3.                                       Events Occurring Prior to Vesting.  Notwithstanding Paragraph 2 to the contrary,

(a)                                  Death or Disability.  If your employment with GPLLC terminates as a
result of your death or a “Disability” or a “Permanent Disability,” as defined
in your employment agreement with GPLLC, the Phantom Units granted to you (and
the amount of all tandem DERs credited to your account) shall not be forfeited
and shall vest on the date the Plan’s Committee determines that the Performance
Goal set forth on Attachment A for the Restricted Period has been
achieved.  If the Committee determines
that the Performance Goal for the Restricted Period was not achieved, the
Phantom Units and all credited tandem DERs are automatically forfeited without
payment effective immediately upon such determination.

(b)                                 Retirement.  If your employment
with GPLLC terminates as a result of your voluntary retirement on or after age
62 and you have at least 10 years of service with GPLLC or its predecessors at
the time of your retirement, the Plan’s Committee, in its sole discretion,
shall determine whether the Phantom Units granted to you (and the amount of all
tandem DERs credited to your account) shall be reinstated as of your date of
retirement and shall vest on the date the Plan’s Committee determines that the
Performance Goal set forth on Attachment A for the Restricted Period has been
achieved.  If the Committee determines
that (i) the Phantom Units granted to you (and the amount of all tandem DERs
credited to your account) are not eligible for vesting, or (ii) the Performance
Goal for the Restricted Period was not achieved, the Phantom Units and all
credited tandem DERs are automatically forfeited without payment effective
immediately upon such determination.

(c)                                  Involuntary Termination.  If
your employment with GPLLC is terminated by GPLLC  for any reason other than “Cause” (as defined
in your employment agreement with GPLLC), the Phantom Units granted to you (and
the amount of all tandem DERs credited to your account) shall not be forfeited
as of your date of termination and shall vest on the date the Plan’s Committee
determines that the Performance Goal set forth on Attachment A for the
Restricted Period has been achieved.  If
the Committee determines that the Performance Goal for the Restricted Period
was not achieved, the Phantom Units and all credited tandem DERs are
automatically forfeited without payment effective immediately upon such
determination.

(d)                                 Termination for Cause; Voluntary Termination.  If your employment with GPLLC is terminated
(1) by GPLLC for Cause (as defined in your employment agreement with GPLLC), or
(2) by you (other than by retirement pursuant to 3(b) above),  all unvested Phantom Units then held by you
(and the amount of all tandem DERs credited to your account) automatically
shall be forfeited without payment upon such termination without regard to the
achievement of the Performance Goal. 
Notwithstanding the foregoing, if your termination of your employment
with GPLLC is determined finally by an arbitrator or court of competent
jurisdiction to constitute “constructive termination” (as defined in your
employment agreement with GPLLC), then the Phantom Units granted to you (and
the amount of all tandem DERs credited to your account) shall be reinstated as
of your date of termination and shall vest on the date the Plan’s Committee
determines that the Performance Goal set forth on Attachment A for the
Restricted Period has been achieved.  If the
Committee determines that the Performance Goal for the Restricted Period was
not achieved, the Phantom Units and all credited tandem DERs are automatically
forfeited without payment effective immediately upon such determination.

(e)                                  Change of Control.  All outstanding Phantom Units held by you (and
the amount of all tandem DERs credited to your account) automatically shall
become fully vested upon a Change of Control without regard to the achievement
of the Performance Goal.  For purposes of
this Agreement, “Change of Control” shall have the meaning ascribed to “Change
in Control” in your employment agreement with GPLLC.

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For
purposes of this Paragraph 3, “employment with GPLLC” shall include being an
Employee or a Director of, or a Consultant to, GPLLC or an Affiliate.

4.                                       Payments.

(a)                                  Phantom Units.  As soon as administratively practicable after
the vesting of a Phantom Unit, but not later than seven days thereafter,
subject to Paragraph 7, you shall be paid one Unit for each such vested Phantom
Unit; provided, however, the
Committee may, in its sole discretion, direct that a cash payment be made to
you in lieu of the delivery of such Unit.  Any such cash payment shall be equal to the
Fair Market Value of the Unit on the day immediately preceding the payment
date.  If more than one Phantom Unit
vests at the same time, the Committee may elect to pay such vested Award in
Units, cash or any combination thereof, in its discretion.

(b)                                 DERs. 
Subject to Paragraph 7, upon payment of a vested Phantom Unit, you shall
be paid in cash the amount of all tandem DERs credited to your bookkeeping
account with respect to such vested Phantom Unit.

5.                                       Limitations Upon Transfer.  All rights under this Agreement shall belong
to you alone and may not be transferred, assigned, pledged, or hypothecated by
you in any way (whether by operation of law or otherwise), other than by will
or the laws of descent and distribution and shall not be subject to execution,
attachment, or similar process.  Upon any
attempt by you to transfer, assign, pledge, hypothecate, or otherwise dispose
of such rights contrary to the provisions in this Agreement or the Plan, or
upon the levy of any attachment or similar process upon such rights, such
rights shall immediately become null and void.

6.                                       Restrictions. By accepting this grant,
you agree that any Units that you may acquire upon payment of this award will
not be sold or otherwise disposed of in any manner that would constitute a
violation of any applicable federal or state securities laws.  You also agree that (i) the certificates
representing the Units acquired under this award may bear such legend or
legends as the Committee deems appropriate in order to assure compliance with
applicable securities laws, (ii) GPLLC may refuse to register the transfer of
the Units to be acquired under this award on the transfer records of the
Partnership if such proposed transfer would in the opinion of counsel
satisfactory to the Partnership constitute a violation of any applicable
securities law, and (iii) the Partnership may give related instructions to its
transfer agent, if any, to stop registration of the transfer of the Units to be
acquired under this award.

7.                                       Withholding of Taxes.  To 
the  extent that the grant,
vesting or payment of a Phantom Unit or DER results in the receipt of
compensation by you with respect to which GPLLC or an Affiliate has a tax
withholding obligation pursuant to applicable law, unless other arrangements
have been made by you that are acceptable to GPLLC or such Affiliate, you shall
deliver to GPLLC or the Affiliate such amount of money as GPLLC or the
Affiliate may require to meet its withholding obligations under such applicable
law.  No payment of a vested Phantom Unit
or DER shall be made pursuant to this Agreement

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until
you have paid or made arrangements approved by GPLLC or the Affiliate to
satisfy in full the applicable tax withholding requirements of GPLLC or
Affiliate with respect to such event.

8.                                       Rights as Unitholder.  You, or your executor, administrator, heirs,
or legatees shall have the right to vote and receive distributions on Units and
all the other privileges of a unitholder of the Partnership only from the date
of issuance of a Unit certificate in your name representing payment of a vested
Phantom Unit.

9.                                       Insider Trading Policy.  The terms of Partnership’s Insider Trading
Policy (the “Policy”) with respect to Units are incorporated herein by
reference.  The timing of the delivery of
any Units pursuant to a vested Phantom Unit shall be subject to and comply with
such Policy.

10.                                 Binding Effect.  This Agreement shall be binding upon and
inure to the benefit of any successor or successors of GPLLC and upon any
person lawfully claiming under you.

11.                                 Entire Agreement.  Except as modified by, and subject to the
terms of, any written employment, severance or change of control agreement
between us or between you and an affiliate, this Agreement constitutes the
entire agreement of the parties with regard to the subject matter hereof, and
contains all the covenants, promises, representations, warranties and
agreements between the parties with respect to the Phantom Units granted
hereby.

12.                                 Modifications.  Except as provided below, any modification of
this Agreement shall be effective only if it is in writing and signed by both you
and an authorized officer of GPLLC.

13.                                 Conflicts and Governing Law.  In the event of any conflict between the
terms of this Agreement and the Plan, the Plan shall control.  In the event of any conflict between the
terms of this Agreement and any written employment, severance or change of
control agreement between us or between you and an Affiliate, the written
employment, severance or change of control agreement shall control.  Capitalized terms used in this Agreement
(including Attachment A hereto) but not defined herein shall have the meanings
ascribed to such terms in the Plan, unless the context requires otherwise.  This grant shall be governed by, and
construed in accordance with, the laws of the State of Delaware, without regard
to conflicts of laws principles thereof.

	
  

  	
   

  	
  GLOBAL GP LLC

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  GRANTEE

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
								

 

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Attachment
A

Performance
Goal

A.                                   Quarterly distributions cannot
decrease at any time during the Restricted Period.

B.                                     Cumulative
distributable cash flow over the Restricted Period must have equaled the
cumulative amount necessary to have achieved a 1.15 coverage over pro forma
average annual distribution increases of 7% per Limited Partner Unit
(determined on a fully diluted basis, and giving effect to distributions to
Global GP LLC, including incentive distributions).Exhibit 10.2

Long-Term Incentive
Plan

Grant of Phantom Units

With DERS

Grantee:                                                             

Grant Date:                                              ,
2007

Restricted
Period:  January 1, 2007 to
December 31, 2009

1.                                       Grant
of Phantom Units with DERs.  Global GP LLC ( “GPLLC”) hereby
grants to you              Phantom Units under the Global
Partners LP Long-Term Incentive Plan (the “Plan”) on the terms and conditions
set forth herein and in the Plan, which is incorporated herein by reference as
a part of this Agreement. This grant of Phantom Units includes a tandem grant
of DERs as defined in the Plan with respect to each Phantom Unit granted.  GPLLC shall establish a DER bookkeeping
account for you with respect to each Phantom Unit granted, which account shall
be credited with an amount equal to any cash distributions made by Global
Partners LP (the “Partnership”) on a Limited Partner Unit during the period
such Phantom Unit is outstanding.  No
interest shall be credited on such DER amounts.

2.                                       Vesting/Forfeitures.  Subject to Paragraph 3 below, if the
Performance Goal set forth on Attachment A hereto is achieved, the Phantom
Units and tandem DERs granted hereunder shall vest on the date the Plan’s
Committee determines that the Performance Goal for the Restricted Period has
been achieved.  If the Committee
determines that the Performance Goal for the Restricted Period was not
achieved, the Phantom Units and all credited tandem DERs are automatically
forfeited without payment effective immediately upon such determination.

3.                                       Events
Occurring Prior to Vesting.  Notwithstanding Paragraph 2 to the contrary,

(a)                                  Death
or Disability. 
If your service as a director with GPLLC terminates as a result of your
death or a “disability,” as defined in Section 409A(a)(2)(C) of the Code, the
Phantom Units granted to you (and the amount of all tandem DERs credited to
your account) shall not be forfeited and shall vest on the date the Plan’s
Committee determines that the Performance Goal set forth on Attachment A for
the Restricted Period has been achieved. 
If the Committee determines that the Performance Goal for the Restricted
Period was not achieved, the Phantom Units and all credited tandem DERs are
automatically forfeited without payment effective immediately upon such
determination.

(b)                                 Resignation.  If you voluntarily resign from
your service or are not re-elected as a director with GPLLC, the Plan’s
Committee, in its sole discretion, shall determine whether the Phantom Units
granted to you (and the amount of all tandem DERs credited to your account)
shall be reinstated as of your date of resignation and shall vest
on the date the Plan’s Committee determines that the Performance Goal set forth
on Attachment A for the Restricted Period has been achieved.  If the Committee determines that (i) the
Phantom Units granted to you (and the amount of all tandem DERs credited to
your account) are not eligible for vesting, or (ii) the Performance Goal for
the Restricted Period was not achieved, the Phantom Units and all credited
tandem DERs are automatically forfeited without payment effective immediately
upon such determination.

(c)                                  Change of Control.  All outstanding Phantom Units held by you
(and the amount of all tandem DERs credited to your account) automatically
shall become fully vested upon a Change of Control without regard to the
achievement of the Performance Goal.

“Change of Control” means, and shall be deemed to have
occurred upon the occurrence of one or more of the following events:
(i) any sale, lease, exchange or other transfer or disposition (in one
transaction or a series of related transactions) of all or substantially all of
the assets of GPLLC or the Partnership to any Person and/or its Affiliates,
other than to GPLLC, the Partnership and/or any of their Affiliates;
(ii) the consolidation, reorganization, merger or other transaction
pursuant to which more than 50% of the combined voting power of the outstanding
equity interests in GPLLC cease to be owned by the Persons (including
Affiliates thereof) who own such interests as of the effective date of the
initial public offering of Units; or (iii) GPLLC (or an Affiliate thereof)
ceasing to be the general partner of the Partnership.

For purposes of this Paragraph 3, “service as a
director” shall include being a Director of, or a Consultant to, GPLLC or an
Affiliate.

4.                                       Payments.

(a)                                  Phantom Units.  As soon as administratively practicable after the vesting of
a Phantom Unit, but not later than seven days thereafter, subject to Paragraph
7, you shall be paid one Unit for each such vested Phantom Unit; provided, however, the Committee may, in its sole
discretion, direct that a cash payment be made to you in lieu of the delivery
of such Unit. 
Any such cash payment shall be equal to the Fair Market Value of the
Unit on the day immediately preceding the payment date.  If more than one Phantom Unit vests at the
same time, the Committee may elect to pay such vested Award in Units, cash or any
combination thereof, in its discretion.

(b)                                 DERs.  Subject to Paragraph 7, upon payment of a vested Phantom
Unit, you shall be paid in cash the amount of all tandem DERs credited to your
bookkeeping account with respect to such vested Phantom Unit.

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5.                                       Limitations
Upon Transfer. 
All rights under this Agreement shall belong to you alone and may not be
transferred, assigned, pledged, or hypothecated by you in any way (whether by
operation of law or otherwise), other than by will or the laws of descent and
distribution and shall not be subject to execution, attachment, or similar
process.  Upon any attempt by you to
transfer, assign, pledge, hypothecate, or otherwise dispose of such rights
contrary to the provisions in this Agreement or the Plan, or upon the levy of
any attachment or similar process upon such rights, such rights shall
immediately become null and void.

6.                                       Restrictions. By accepting this grant, you
agree that any Units that you may acquire upon payment of this award will not
be sold or otherwise disposed of in any manner that would constitute a
violation of any applicable federal or state securities laws.  You also agree that (i) the certificates
representing the Units acquired under this award may bear such legend or
legends as the Committee deems appropriate in order to assure compliance with
applicable securities laws, (ii) GPLLC may refuse to register the transfer of
the Units to be acquired under this award on the transfer records of the
Partnership if such proposed transfer would in the opinion of counsel
satisfactory to the Partnership constitute a violation of any applicable
securities law, and (iii) the Partnership may give related instructions to its
transfer agent, if any, to stop registration of the transfer of the Units to be
acquired under this award.

7.                                       Withholding
of Taxes. 
To the extent that the grant, vesting or payment of a Phantom Unit or
DER results in the receipt of compensation by you with respect to which GPLLC
or an Affiliate has a tax withholding obligation pursuant to applicable law,
unless other arrangements have been made by you that are acceptable to GPLLC or
such Affiliate, you shall deliver to GPLLC or the Affiliate such amount of
money as GPLLC or the Affiliate may require to meet its withholding obligations
under such applicable law.  No payment of
a vested Phantom Unit or DER shall be made pursuant to this Agreement until you
have paid or made arrangements approved by GPLLC or the Affiliate to satisfy in
full the applicable tax withholding requirements of GPLLC or Affiliate with
respect to such event.

8.                                       Rights
as Unitholder. 
You, or your executor, administrator, heirs, or legatees shall have the
right to vote and receive distributions on Units and all the other privileges
of a unitholder of the Partnership only from the date of issuance of a Unit
certificate in your name representing payment of a vested Phantom Unit.

9.                                       Insider
Trading Policy. 
The terms of Partnership’s Insider Trading Policy (the “Policy”) with
respect to Units are incorporated herein by reference.  The timing of the delivery of any Units
pursuant to a vested Phantom Unit shall be subject to and comply with such
Policy.

10.                                 Binding
Effect.  This Agreement
shall be binding upon and inure to the benefit of any successor or successors
of GPLLC and upon any person lawfully claiming under you.

11.                                 Entire Agreement. 
This Agreement constitutes the entire agreement of the parties with
regard to the subject matter hereof, and contains all the covenants, promises,

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representations,
warranties and agreements between the parties with respect to the Phantom Units
granted hereby.

12.                                 Modifications.  Except as provided below, any modification of
this Agreement shall be effective only if it is in writing and signed by both
you and an authorized officer of GPLLC.

13.                                 Conflicts
and Governing Law. 
In the event
of any conflict between the terms of this Agreement and the Plan, the Plan
shall control.  Capitalized terms used in
this Agreement (including Attachment A hereto) but not defined herein shall
have the meanings ascribed to such terms in the Plan, unless the context
requires otherwise.  This grant shall be governed by, and construed in accordance with, the
laws of the State of Delaware, without regard to conflicts of laws principles
thereof.

	
  

  	
  GLOBAL GP LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  GRANTEE

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  

 

 4

Attachment A

Performance
Goal

A.                                   Quarterly distributions cannot
decrease at any time during the Restricted Period.

B.                                     Cumulative distributable cash
flow over the Restricted Period must have equaled the cumulative amount
necessary to have achieved a 1.15 coverage over pro forma average annual
distribution increases of 7% per Limited Partner Unit (determined on a fully
diluted basis, and giving effect to distributions to Global GP LLC, including
incentive distributions).

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