Document:

Form of deferred common unit agreement

 EXHIBIT 10.7 
  
 PENN VIRGINIA RESOURCE GP, LLC 
  
 Amended and Restated Long-Term Incentive Plan 
  
 Deferred Common Unit Grant 
  
 This DEFERRED COMMON UNIT GRANT, dated as of February 15, 2005 (the “Date of Grant”), is delivered by Penn Virginia Corporation (the
“Company”) to                      (the “Grantee”). 
  
 RECITALS 
  
 The Amended and Restated Long-Term Incentive Plan (the “Plan”), as amended and restated effective as of January 1, 2005, provides for the grant
of Deferred Common Units (as defined in the Plan) in accordance with the terms and conditions of the Plan. The Compensation and Benefits Committee of the Board of Directors of the Company (the “Committee”) has decided to grant Deferred
Common Units to the Grantee as an inducement for the Grantee to promote the best interests of the Partnership and its unitholders. All terms capitalized but not defined herein will have the meanings assigned to them in the Plan. 
  
 NOW, THEREFORE, the parties to this Agreement, intending to be legally bound
hereby, agree as follows: 
  
 1. Grant of Deferred Common Units. Subject
to the terms and conditions set forth in this Agreement and the Plan, the Company hereby grants the Grantee                      Deferred
Common Units. The Company will establish an Account in the Grantee’s name that will be credited with the number of Deferred Common Units granted hereunder. 
  

2. Unit Distributions. Any cash distribution or other distribution paid by the Company on account of the Units. 
  
 3. Vesting and Non-transferability. 
  
 (a) The Grantee shall be fully vested at all times in the Deferred Common
Units granted hereunder and all Distributions paid thereon. 
  
 (b) The Deferred Common Units shall not be transferable unless otherwise determined by the Board. 
  
 4. Distribution of Deferred Common Units and Unit Distributions. Deferred Common Units and Unit Distributions will be distributed to the Grantee on the date on which such Grantee ceases for any reason to be a
member of the Board; provided that, upon the death of the Grantee, distribution shall be made to the beneficiary designated by such Grantee on Exhibit A attached 

 hereto. If the Grantee fails to designate a beneficiary or the Grantee’s beneficiary predeceases the Grantee,
distribution shall be made to the Grantee’s estate. Each Deferred Common Unit shall be payable in one Unit of the Partnership. Units distributed with respect to Deferred Common Units shall not be transferable until the six-month anniversary of
the date on which such Units were distributed. 
  
 5. Change in Control.
The provisions of the Plan applicable to a Change in Control shall apply to the Deferred Common Units, and upon the consummation of a Change in Control, the Units represented by Deferred Common Units credited to each Non-employee Director’s
Account and the Share Distributions shall be distributed to the Grantee. 
  
 6.
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 is subject to interpretations,
regulations and determinations concerning the Plan established from time to time by the Board in accordance with the provisions of the Plan, including, but not limited to, provisions pertaining to (a) rights and obligations with respect to
withholding taxes, (b) the registration, qualification or listing of the Units, (c) changes in capitalization of the Partnership, (d) compliance with section 409A of the Internal Revenue Code and the applicable regulations thereunder, and (e) other
requirements of applicable law. The Committee shall have the authority to interpret and construe the grant pursuant to the terms of the Plan, and its decisions shall be conclusive as to questions arising hereunder. 
  
 7. Withholding. The Grantee shall be required to pay to the Company, or make other
arrangements satisfactory to the Company to provide for the payment of, any federal, state, local or other taxes that the Company is required to withhold with respect to the grant of the Deferred Common Units or the delivery of Units or Unit
Distributions. 
  
 8. Requirements for Issuance or Transfer of Units. No
Unit shall be issued, transferred or delivered in connection with this Deferred Common Unit Grant unless and until all legal requirements applicable to the issuance of such stock have been complied with to the satisfaction of the Board. The Board
shall have the right to condition this grant or delivery of such Unit on Grantee’s undertaking in writing to comply with such restrictions on the Grantee’s subsequent disposition of such Units as the Board shall deem necessary or advisable
to comply with applicable law, and certificates representing such Units may be legended to reflect any such restrictions. Certificates representing Units issued, transferred or delivered hereunder will be subject to such stop-transfer orders and
other restrictions as may be required by applicable laws, regulations and interpretations, including any requirement that a legend be placed thereon. 
  
 9. No Service or Other Rights. This grant shall not confer upon the Grantee any right to be retained in the service of the Company and shall not interfere in any
way with the right of the Company to terminate the Grantee’s service at any time. The right of the Company to terminate at will the Grantee’s service at any time for any reason is specifically reserved. 
  
 10. Assignment by Company. The rights and protections of the Company hereunder shall
extend to any successors or assigns of the Company and to the Company’s parents, subsidiaries, and affiliates. This Agreement may be assigned by the Company without the Grantee’s consent. 
  

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 11. Applicable Law. The validity, construction, interpretation and effect of this instrument 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. 
  
 12. Notice. Any notice to the Company provided for in this instrument shall be addressed to the Company in care of Secretary at Three Radnor Corporate Center,
Suite 230, Radnor, PA 19087 and any notice to the Grantee shall be addressed to such Grantee at the current address known by the Company, or to such other address as the Grantee may designate to the Company in writing. Any notice shall be delivered
by hand, 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. 
  
 IN WITNESS WHEREOF, the Company has caused its duly authorized officers to
execute and attest this instrument, and the Grantee has placed his or her signature hereon, effective as of the Date of Grant. 
  

					
	 	  	 	  	 Penn Virginia Resource GP, LLC

	 Attest:
	  	 	  	 
			
	  
  

	  	 	  	 By:

  
 I hereby accept the grant of Deferred
Common Units described in this Agreement, and I agree to be bound by the terms of the Plan and this Agreement. I hereby further agree that all the decisions and determinations of the Board shall be final and binding. 
  

	
	
	

	 Grantee

	
	

	 Date

  

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 EXHIBIT A 
  

PENN VIRGINIA RESOURCE GP, LLC 
  
 Amended and Restated Long-Term Incentive Plan 
  
 Deferred Common Unit Grant 
  
 Beneficiary Designation Form 
  
 The beneficiary to whom payment is to be made under this Deferred Common Stock Unit Grant in the event of my death prior to receipt of my entire Account balance is:

  

			
		
	                                      
                                        
                   	 	                                      
                                        
                
	Name	 	Address

  
 The contingent beneficiary to whom
payment is to be made in the event of my death prior to receipt of my entire Account, if the beneficiary listed above dies before full payment has been made, is: 
  

			
		
	                                      
                                        
                   	 	                                      
                                        
                
	Name	 	Address

  

			
		
	                                       
                                        
                            
 Employee
	 	 
		
	 Date:                                     
                                        
                   
	 	 
		
	 Receipt Acknowledged:
	 	 
		
	 PENN VIRGINIA RESOURCE GP, LLC
	 	 
		
	 By:                                      
                                        
                     
	 	 
		
	 Title:                                     
                                        
                   
	 	 Date:                                     
                                        
                

  

 4Form of restricted unit award agreement

 Exhibit 10.8 
  
 PENN VIRGINIA RESOURCE GP, LLC 
 RESTRICTED UNIT AGREEMENT 
  
 THIS AGREEMENT is made as of                      (the “Effective Date”) between Penn Virginia Resource GP, LLC, a Delaware
limited liability company (the “Company”), and                      (“Employee”). 
  
 1. Award of Units. As of the Effective Date, the Company hereby
grants to Employee              common units of Penn Virginia Resource Partners, L.P. (“Units”) pursuant to the Penn Virginia Resource GP, LLC Amended and Restated
Long-Term Incentive Plan (the “Plan”). A copy of the Plan is attached hereto as Exhibit A. Employee agrees that this award of Units shall be subject to all of the terms and conditions set forth herein and in the Plan, including any future
amendments thereto, which Plan is incorporated herein by reference as a part of this Agreement. In the event of any conflict between the terms of this Agreement and the Plan, the terms of the Plan shall govern. 
  
 2. Forfeiture Restrictions. The Units granted to Employee
pursuant to this Agreement may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of to the extent then subject to the Forfeiture Restrictions (as hereinafter defined), and in the event of
Employee’s termination from the Company for any reason (other than as described below), Employee shall automatically upon such termination, for no consideration, forfeit to the Company all Units to the extent then subject to the Forfeiture
Restrictions. The prohibition against transfer and the obligation to forfeit and surrender Units to the Company upon termination from the Company are herein referred to as “Forfeiture Restrictions,” and the Units which are then subject to
the Forfeiture Restrictions are herein sometimes referred to as “Restricted Units.” The Forfeiture Restrictions shall be binding upon and enforceable against any transferee of the Units. The Forfeiture Restrictions shall lapse as to
Restricted Units issued to Employee pursuant to this Agreement at the same time and in the same proportion as subordinated units are converted into common units during the Subordination Period (as defined in the Amended and Restated Agreement of
Limited Partnership of Penn Virginia Resource Partners, L.P.). Notwithstanding the foregoing, the Forfeiture Restrictions shall lapse as to all of the Restricted Units on the date a Change in Control (as defined in the Plan) occurs or upon the death
of Employee. 
  
 3. Certificates. A certificate
evidencing the Restricted Units shall be issued in Employee’s name, pursuant to which Employee shall have voting rights and shall be entitled to receive all distributions on such Units free and clear of any Forfeiture Restrictions. The
certificate shall bear the following legend: 
  
 The Units
evidenced by this certificate have been issued pursuant to an agreement made as of                     , a copy of which is attached hereto
and incorporated herein, between the Company and the registered holder of the Units, and are subject to forfeiture to the Company under certain circumstances described in such agreement. The sale, assignment, pledge or other transfer of the Units
evidenced by this certificate is prohibited under the terms and conditions of such agreement, and such units may not be sold, assigned, pledged or otherwise transferred except as provided in such agreement. 

 The Company may cause the certificate to be delivered upon issuance to the Secretary of the Company as a
depository for safekeeping until the forfeiture occurs or the Forfeiture Restrictions lapse pursuant to the terms of this Agreement. Upon request of the Company, Employee shall deliver to the Company a unit power, endorsed in blank, relating to the
Restricted Units then subject to the Forfeiture Restrictions. Upon the lapse of the Forfeiture Restrictions without forfeiture, the Company shall cause a new certificate or certificates to be issued for the remaining Units without legend in the name
of Employee in exchange for the certificate evidencing the Restricted Units. 
  
 4. Consideration. It is understood that the consideration for the issuance of Restricted Units shall be Employee’s agreement to render future services as Employee of the Company. 
  
 5. Status of Units. Employee agrees that the Restricted Units
will not be sold or otherwise disposed of in any manner that would constitute a violation of any applicable federal or state securities laws. Employee also agrees (i) that the certificates representing the Restricted Units may bear such legend or
legends as the Committee deems appropriate in order to ensure compliance with applicable securities laws, (ii) that Penn Virginia Resource Partners, L.P. may refuse to register the transfer of the Restricted Units on the unit transfer records of
Penn Virginia Resource Partners, L.P. if such proposed transfer would in the opinion of counsel satisfactory to Penn Virginia Resource Partners, L.P. constitute a violation of any applicable securities law, and (iii) that Penn Virginia Resource
Partners, L.P. may give related instructions to its transfer agent, if any, to stop registration of the transfer of the Restricted Units. 
  
 6. Committee’s Powers. No provision contained in this Agreement shall in any way terminate, modify or alter, or be construed or
interpreted as terminating, modifying or altering any of the powers, rights or authority vested in the Committee pursuant to the terms of the Plan, including, without limitation, the Committee’s rights to make certain determinations and
elections with respect to the Restricted Units. 
  
 7.
Binding Effect. This Agreement shall be binding upon and inure to the benefit of any successors to the Company and all persons lawfully claiming under Employee. 
  
 8. Non-Alienation. To the extent subject to the Forfeiture Restrictions, Employee shall not have any right to
pledge, hypothecate, anticipate or assign this Agreement or the rights with respect to Units granted hereunder, except by will or the laws of descent and distribution. 
  
 9. No Membership Rights Conferred. This Agreement shall not be deemed to (i) confer upon Employee any right
with respect to continuation of employment or (ii) affect the terms and conditions of any other agreement between the Company and Employee except as expressly provided herein. 
  

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 10. Counterparts. This Agreement may be executed in one or more counterparts, each of which
shall be deemed to be an original, but all of which together will constitute one and the same Agreement. 
  
 11. Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware. 
  
 IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed
by an officer thereunto duly authorized, and Employee has executed this Agreement, all effective as of the Effective Date. 
  

			
	PENN VIRGINIA RESOURCE GP, LLC
		
	 By:
	 	  

	 Name:
	 	 

			
	 Title:
	 	  

	
	

	 Employee

  

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