Document:

EX-10.4

 Exhibit 10.4 

Execution Version 

TALLGRASS EQUITY UNIT ISSUANCE AGREEMENT 

This TALLGRASS EQUITY UNIT ISSUANCE AGREEMENT (this “Agreement”) is made as of May 12, 2015 (the “Effective
Date”) by and between Tallgrass Equity, LLC, a Delaware limited liability company (the “Company”), and Tallgrass Energy GP, LP, a Delaware limited partnership (“Contributor”). 

WHEREAS, Contributor recently completed its initial public offering of Class A shares, resulting in $1,146,333,750.00 in net proceeds
following payment of offering expenses (the “IPO Proceeds”); and 
 WHEREAS, Contributor desires to contribute to the
Company, and Company desires to issue to Contributor, 41,500,000 units representing membership interests in the Company in exchange for the IPO Proceeds, on the terms and subject to the conditions set forth below. 

NOW, THEREFORE, the parties agree as follows: 

1. Issuance of Units. The Company hereby issues to Contributor, and Contributor hereby accepts, 41,500,000 Units (as defined in the
Second Amended and Restated Limited Liability Company Agreement of the Company dated as of May 12, 2015 (the “LLC Agreement”)) (collectively, the “Units”) in consideration for the contribution of the IPO
Proceeds by Contributor to the Company. 
 2. Investment Representations. In connection with the issuance of the Units, Contributor
represents and warrants to the Company, as follows: 
 (a) Contributor is aware of the Company’s business affairs and financial
condition and has acquired sufficient information about the Company to reach an informed and knowledgeable decision to acquire the Units. Contributor understands and acknowledges that an investment in the Company is highly speculative and involves
substantial risks. Contributor can bear the economic risk of Contributor’s investment and is able, without impairing Contributor’s financial condition, to hold the Units for an indefinite period of time and to suffer a complete loss of
Contributor’s investment. 
 (b) Contributor is acquiring the Units for investment for Contributor’s own account only and not
with a view to, or for resale in connection with, any “distribution” thereof within the meaning of the Securities Act of 1933, as amended (the “Securities Act”). 

(c) Contributor understands that the Units have not been registered under the Securities Act by reason of a specific exemption therefrom,
which exemption depends upon, among other things, the bona fide nature of Contributor’s investment intent as expressed herein. In this connection, Contributor understands that, in view of the Securities and Exchange Commission (the
“Commission”), the statutory basis for such exemption may not be present if Contributor’s representations meant that Contributor’s present intention was to hold the Units for a minimum capital gains period under applicable
tax statutes, for a deferred sale, for a market rise, for a sale if the market does not rise, or for a year or any other fixed period in the future. 

 (d) Contributor is an “accredited investor” within the meaning of Regulation D, Rule
501(a), promulgated by the Commission under the Securities Act and shall submit to the Company such further assurances of such status as may be reasonably requested by the Company. 

(e) Contributor further acknowledges and understands that the Units must be held indefinitely unless they are subsequently registered under
the Securities Act or an exemption from such registration is available. Contributor further acknowledges and understands that the Company is under no obligation to register the Units. Contributor understands and acknowledges that no public market
now exists for any of the securities issued by the Company and that the Company has made no assurances that a public market will ever exist for the Company’s securities. 

3. General Provisions. 

(a) This Agreement and the transactions contemplated hereby will be governed by and interpreted in accordance with the laws of the State of
Delaware, without regard to principles of conflicts of laws. This Agreement represent the entire agreement between the parties with respect to the acquisition of the Units by Contributor and may only be modified or amended in writing signed by both
parties. 
 (b) Either party’s failure to enforce any provision or provisions of this Agreement shall not in any way be construed as a
waiver of any such provision or provisions, nor prevent that party thereafter from enforcing each and every other provision of this Agreement. The rights granted both parties herein are cumulative and shall not constitute a waiver of either
party’s right to assert all other legal remedies available to it under the circumstances. 
 (c) The Parties agree to execute all
instruments and to take all actions that are reasonably necessary to effect the transactions contemplated hereby. 
 (d) Contributor has
reviewed this Agreement in its entirety, has had an opportunity to obtain the advice of counsel prior to executing this Agreement and fully understands all provisions of this Agreement. 

(e) This Agreement may be signed in any number of counterparts, each of which will be an original, with the same effect as if the signatures
thereto and hereto were upon the same instrument. 
 [Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the parties have duly executed this Agreement as of the day and year first
set forth above. 
  

			
	COMPANY:
	
	TALLGRASS EQUITY, LLC
		
	By:		 /s/ David G. Dehaemers, Jr.

			David G. Dehaemers, Jr.
			President and Chief Executive Officer
	
	CONTRIBUTOR:
	
	TALLGRASS ENERGY GP, LP
		
	By:		TEGP MANAGEMENT, LLC,
			its general partner
		
	By:		 /s/ David G. Dehaemers, Jr.

			David G. Dehaemers, Jr.
			President and Chief Executive Officer

 Signature Page to Tallgrass Equity Unit Issuance AgreementEX-10.5

 Exhibit 10.5 

TEGP MANAGEMENT, LLC 

LONG-TERM INCENTIVE PLAN 
  

	1.	Purpose of the Plan. 

 The TEGP Management, LLC Long-Term Incentive Plan (the
“Plan”) has been adopted by TEGP Management, LLC, a Delaware limited liability company (the “Company”), the general partner of Tallgrass Energy GP, LP, a Delaware limited partnership (the
“Partnership”), and is intended to promote the interests of the Partnership and the Company and their Affiliates (as defined below) by providing to employees, consultants, and directors of the Company and its Affiliates who perform
services for or on behalf of the Partnership or its Affiliates incentive compensation awards for superior performance that are based on Shares (as defined below). The Plan is also contemplated to enhance the ability of the Company and its Affiliates
to attract and retain the services of individuals who are essential for the growth and profitability of the Partnership and its subsidiaries and to encourage them to devote their best efforts to advancing the business of the Partnership and its
subsidiaries. 
  

	2.	Definitions. 

 As used in the Plan, the following terms shall have the meanings set forth
below: 
 “Affiliate” means, with respect to any Person, any other Person that directly or indirectly
through one or more intermediaries controls, is controlled by or is under common control with, the Person in question. As used herein, the term “control” means the possession, direct or indirect, of the power to direct or cause the
direction of the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise. 

“Award” means a Share, Restricted Share, Equity Participation Share, Option, Share Appreciation Right or DER
granted under the Plan. 
 “Award Agreement” means the written agreement or other instrument by which an
Award shall be evidenced. 
 “Board” means the Board of Directors of the Company. 

“Change of Control” means, and shall be deemed to have occurred upon the occurrence of one or more of the
following events: (i) any Person or group, other than Tallgrass Energy Holdings, LLC (“Parent”) or its Affiliates, becomes the owner, by way of merger, consolidation, recapitalization, reorganization or otherwise, of 50% or
more of (A) the combined voting power of the equity interests in the Company or (B) the general partner interests in the Partnership, (ii) the limited partners of the Partnership approve, in one or a series of transactions, a plan of
complete liquidation of the Partnership or (iii) the sale or other disposition by the Partnership of all or substantially all of its assets in one or more transactions to any person other than the Company or an Affiliate of the Company. 

 Anything in this definition to the contrary notwithstanding, with respect to any
Award intended to be compliant with Section 409A of the Code, no Change of Control shall be deemed to have occurred unless such event constitutes an event specified in Section 409A(a)(2)(A)(v) of the Code and the Treasury Regulations
promulgated thereunder. 
 “Code” means the Internal Revenue Code of 1986, as amended. 

“Committee” means the Compensation Committee of the Board or, if none, the Board or such committee of the
Board, if any, as may be appointed by the Board to administer the Plan. 
 “Consultant” means an individual,
other than an Employee or a Director, providing bona fide services to the Partnership or any of its Affiliates as a consultant or advisor, as applicable, provided that such individual is a natural person. 

“DER” or “Distribution Equivalent Right” means a right to receive an amount in cash or
additional Awards equal to the cash distributions made by the Partnership with respect to a Share during a specified period. 

“Director” means a member of the Board who is not an Employee. 

“Employee” means any employee of the Company or an Affiliate who performs services for the Partnership or its
Affiliates, including, without limitation, employees of Tallgrass Management, LLC or any successor. 
 “Equity
Participation Share” means a phantom (notional) share granted under the Plan which entitles the Participant to receive, in the discretion of the Committee, a Share or an amount of cash equal to the Fair Market Value of a Share. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Fair Market Value” of a Share means the closing sales price of a Share on the principal national securities
exchange or other market in which trading in Shares occurs on the applicable date (or if there is no trading in the Shares on such date, on the next preceding date on which there was trading) as reported in The Wall Street Journal (or other
reporting service approved by the Committee). In the event Shares are not traded on a national securities exchange or other market at the time a determination of fair market value is required to be made hereunder, the determination of fair market
value shall be made in good faith by the Committee and in compliance with Section 409A of the Code. Notwithstanding the foregoing, with respect to an Award granted on the effective date of the initial public offering of Shares, Fair Market
Value on such date shall mean the initial offering price per Share as stated on the cover page of the prospectus which is part of the registration statement on Form S-1 for such offering. 

“Option” means an option to purchase Shares granted under the Plan. 

  
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 “Participant” means any Employee, Consultant or Director granted
an Award under the Plan. 
 “Person” means an individual or a corporation, limited liability company,
partnership, joint venture, trust, unincorporated organization, association, government agency or political subdivision thereof or other entity. 

“Restricted Period” means the period established by the Committee with respect to an Award during which the
Award remains nontransferable and subject to forfeiture or is either not exercisable by or payable to the Participant, as the case may be. 

“Restricted Share” means a Share granted under the Plan that is subject to a Restricted Period. 

“SAR” or “Share Appreciation Right” means an Award that, upon exercise, entitles the holder
to receive, in cash or Shares in the discretion of the Committee, the excess of the Fair Market Value of a Share on the exercise date over the exercise price established for such Share Appreciation Right. 

“SEC” means the Securities and Exchange Commission, or any successor thereto. 

“Share” means a Class A share of the Partnership. 

 

	3.	Administration. 

 (a) General. The Plan shall be administered by the Committee.
Subject to the terms of the Plan and applicable law, and in addition to other express powers and authorizations conferred on the Committee by the Plan, the Committee shall have full power and authority to: (i) designate Participants;
(ii) determine the type or types of Awards to be granted to a Participant; (iii) determine the number of Shares or Equity Participation Shares to be covered by Awards; (iv) determine the terms and conditions of any Award (including
but not limited to performance requirements for such Award); (v) determine whether, to what extent, and under what circumstances Awards may be settled, exercised, canceled, or forfeited; (vi) interpret and administer the Plan and any
instrument or agreement relating to an Award made under the Plan; (vii) establish, amend, suspend, or waive such rules and regulations and appoint such agents as it shall deem appropriate for the proper administration of the Plan; and
(viii) make any other determination and take any other action that the Committee deems necessary or desirable for the administration of the Plan. The Committee may, in its discretion, provide for the extension of the exercisability of an Award,
accelerate the vesting or exercisability of an Award, eliminate or make less restrictive any restrictions applicable to an Award, waive any restriction or other provision of this Plan or an Award or otherwise amend or modify an Award or Award
Agreement in any manner that is either (i) not adverse to the Participant to whom such Award was granted or (ii) consented to by such Participant. Unless otherwise expressly provided in the Plan, all designations, determinations,
interpretations, and other decisions under or with respect to the Plan or any Award shall be within the sole discretion of the Committee, may be made at any time and shall be final, conclusive, and binding upon all Persons, including the Company,
the Partnership, any Affiliate, any Participant, and any beneficiary of any Award. No member of the Committee or officer of the Company to whom the Committee has delegated authority in 

  
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accordance with the provisions of Section 3(b) of this Plan shall be liable for anything done or omitted to be done by him or her, by any member of the Committee or by any officer of the
Company in connection with the performance of any duties under this Plan, except for his or her own willful misconduct. 
 (b)
Delegation. Following the authorization of a pool of Shares to be available for Awards, the Board or the Committee may authorize a committee of one or more members of the Board to grant individual Awards from such pool pursuant to such
conditions or limitations as the Board or the Committee may establish. The Committee may delegate to the Chief Executive Officer and to other employees of the Company its administrative duties under this Plan (excluding its granting authority)
pursuant to such conditions or limitations as the Committee may establish. The Committee may engage or authorize the engagement of a third party administrator to carry out administrative functions under the Plan. 

 

	4.	Shares. 

 (a) Limits on Shares Deliverable. Subject to adjustment as provided in
Section 4(c), the maximum number of Shares that may be delivered or reserved for delivery or underlying Awards in the aggregate issued under the Plan is 3,144,589. If any Award expires, is canceled, exercised, paid or otherwise terminates
without the delivery of Shares, then the Shares covered by such Award, to the extent of such expiration, cancellation, exercise, payment or termination, shall again be Shares with respect to which Awards may be granted. Shares that are delivered by
a Participant in satisfaction of the exercise or other purchase price of an Award or the tax withholding obligations associated with an Award or are withheld to satisfy the Company’s tax withholding obligations are available for delivery
pursuant to other Awards. The Committee may from time to time adopt and observe such rules and procedures concerning the counting of Shares against the Plan maximum or any sublimit as it may deem appropriate, including rules more restrictive than
those set forth above to the extent necessary to satisfy the requirements of any national stock exchange on which the Shares are listed or any applicable regulatory requirement. The Board, the Committee and the appropriate officers of the Company
are authorized to take from time to time whatever actions are necessary, and to file any required documents with governmental authorities, stock exchanges and transaction reporting systems to ensure that Shares are available for issuance pursuant to
Awards. 
 (b) Sources of Shares Deliverable Under Awards. Any Shares delivered pursuant to an Award shall consist, in whole or in
part, of Shares acquired in the open market, Shares already owned by the Company, Shares acquired by the Company directly from the Partnership or any other person or any combination of the foregoing. 

(c) Adjustments. In the event that any distribution (whether in the form of cash, Shares, other securities, or other property),
recapitalization, split, reverse split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Partnership, issuance of warrants or other rights to purchase Shares or
other securities of the Partnership, or other similar transaction or event affects the Shares, then the Committee shall, in such manner as it may deem equitable, adjust any or all of (i) the number and type of Shares (or other securities or
property) with respect to which Awards may be granted, (ii) the number and type of Shares (or other securities or property) subject to outstanding 

  
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Awards, and (iii) the grant or exercise price with respect to any Award, or make provision for a cash payment to the holder of an outstanding Award; provided, that the number of Shares
subject to any Award shall always be a whole number. No adjustment pursuant to this Section 4(c) shall be made in a manner that results in noncompliance with the requirements of Section 409A of the Code, to the extent applicable. 

 

	5.	Eligibility. 

 Any Employee, Consultant or Director shall be eligible to be designated a
Participant and receive an Award under the Plan. 
  

	6.	Awards. 

 Awards may, in the discretion of the Committee, be granted either alone or in
addition to, in tandem with or in substitution for any other Award granted under the Plan or any award granted under any other plan of the Company or any Affiliate. Awards granted in addition to or in tandem with other Awards or awards granted under
any other plan of the Company or any Affiliate may be granted either at the same time as or at a different time from the grant of such other Awards or awards. 

(a) Unrestricted Shares. The Committee shall have the discretion to determine the Employees, Consultants and Directors to whom
unrestricted Shares shall be granted and the number of Shares to be granted. All unrestricted Shares granted shall be fully vested upon grant and shall not be subject to forfeiture. 

(b) Restricted Shares. The Committee shall have the authority to determine the Employees, Consultants and Directors to whom Restricted
Shares shall be granted, the number of Restricted Shares to be granted to each such Participant, the Restricted Period, the conditions under which the Restricted Shares may become vested or forfeited, and such other terms and conditions as the
Committee may establish with respect to such Awards. To the extent provided by the Committee, in its discretion, a grant of Restricted Shares may provide that distributions made by the Partnership with respect to the Restricted Shares shall be
subject to the same forfeiture and other restrictions as the Restricted Share and, if restricted, such distributions shall be held, without interest, until the Restricted Share vests or is forfeited with the accumulated distributions being paid or
forfeited at the same time, as the case may be. Absent such a restriction on the distributions in the Award Agreement, distributions during the Restricted Period shall be paid to the holder of the Restricted Share without restriction. 

(c) Equity Participation Shares. The Committee shall have the authority to determine the Employees, Consultants and Directors to whom
Equity Participation Shares shall be granted, the number of Equity Participation Shares to be granted to each such Participant, the Restricted Period, the time or conditions under which the Equity Participation Shares may become vested or forfeited,
which may include, without limitation, the accelerated vesting upon the achievement of specified performance goals, and such other terms and conditions as the Committee may establish with respect to such Awards, including whether DERs are granted
with respect to such Equity Participation Shares. 

  
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 (d) Options. The Committee shall have the authority to determine the Employees,
Consultants and Directors to whom Options shall be granted, the number of Shares to be covered by each Option, whether DERs are granted with respect to such Option, the purchase price therefor and the conditions and limitations applicable to the
exercise of the Option as the Committee shall determine, that are not inconsistent with the provisions of the Plan. The term of an Option may not exceed 10 years. The purchase price per Share purchasable under an Option shall be determined by the
Committee at the time the Option is granted, provided such purchase price may not be less than 100% of its Fair Market Value as of the date of grant. The Committee shall determine the time or times at which an Option may be exercised in whole or in
part, which may include, without limitation, accelerated vesting upon the achievement of specified performance goals, and the method or methods by which payment of the exercise price with respect thereto may be made or deemed to have been made,
which may include, without limitation, cash, check acceptable to the Company, a broker-assisted cashless exercise through procedures approved by the Committee, delivery of previously owned Shares having a Fair Market Value on the exercise date equal
to the relevant exercise price, or any combination thereof. 
 (e) Share Appreciation Rights. The Committee shall have
the authority to determine the Employees, Consultants and Directors to whom Share Appreciation Rights shall be granted, the number of Shares to be covered by each grant and the conditions and limitations applicable to the exercise of the Share
Appreciation Right as the Committee shall determine, that are not inconsistent with the provisions of the Plan. The exercise price per Share Appreciation Right shall be not less than 100% of its Fair Market Value as of the date of grant. The term of
a Share Appreciation Right may not exceed 10 years. 
 (f) Distribution Equivalent Rights. The Committee shall have the
authority to determine the Employees, Consultants and Directors to whom DERs are granted, whether such DERs are tandem or separate Awards, whether the DERs shall be paid directly to the Participant, be credited to a bookkeeping account (with or
without interest in the discretion of the Committee) the vesting restrictions and payment provisions applicable to the Award, and such other provisions or restrictions as determined by the Committee in its discretion all of which shall be specified
in the Award Agreements. 
  

	7.	Limits on Transfer of Awards. 

 Each Award shall be exercisable or payable only to the
Participant during the Participant’s lifetime, or to the person to whom the Participant’s rights shall pass by will or the laws of descent and distribution. No Award and no right under any such Award may be assigned, alienated, pledged,
attached, sold or otherwise transferred or encumbered by a Participant and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company or any Affiliate.
Notwithstanding the foregoing, to the extent specifically provided by the Committee with respect to an Award, an Award may be transferred by a Participant without consideration to immediate family members or related family trusts, limited
partnerships or similar entities or on such terms and conditions as the Committee may from time to time establish. 

  
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	8.	Securities Restrictions. 

 (a) All certificates for Shares or other securities of the
Partnership delivered under the Plan pursuant to any Award or the exercise thereof shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the Plan or the rules, regulations, and other
requirements of the SEC, any stock exchange upon which such Shares or other securities are then listed, and any applicable federal or state laws, and the Committee may cause a legend or legends to be put on any such certificates to make appropriate
reference to such restrictions. 
 (b) Notwithstanding anything in the Plan or any Award Agreement to the contrary, delivery of Shares
pursuant to the exercise or vesting of an Award may be deferred for any period during which, in the good faith determination of the Committee, the Company is not reasonably able to obtain Shares to deliver pursuant to such Award without violating
the rules or regulations of any applicable law or securities exchange. No Shares or other securities shall be delivered pursuant to any Award until payment in full of any amount required to be paid pursuant to the Plan or the applicable Award
Agreement (including, without limitation, any exercise price or tax withholding) is received by the Company. 
  

	9.	Change of Control. 

 Unless specifically provided otherwise in the Award Agreement, upon
a Change of Control or such time prior thereto as established by the Committee, all outstanding Awards shall automatically vest or become exercisable in full, as the case may be. In this regard, all Restricted Periods shall terminate. 

Except as otherwise provided in the Award Agreement, the difference between the Fair Market Value of Shares on the payment date and the
exercise price of an Option or SAR that is or becomes fully vested and exercisable as of the date of a Change of Control (or any earlier date related to the Change of Control and established by the Committee) shall be paid in a single payment in
Shares, or cash and/or other property, or any combination of Shares and cash and/or other property, as determined by the Committee. Except as otherwise provided in the Award Agreement, any Award of Equity Participation Shares or Restricted Shares
that pursuant to this Section 9 are deemed to have the applicable Restriction Period lapse (and to have all applicable performance criteria achieved at the maximum level, if any) as of the date of a Change of Control (or any earlier date
related to the Change of Control and established by the Committee), shall be settled by (i) issuance of unrestricted Shares based on the number of Shares that were subject to the Award on the date of grant of the Award or (ii) payment of
cash and/or other property equal to the Fair Market Value of a Share on the payout date for each Equity Participation Share or Restricted Share or (iii) any combination of payouts under clauses (i) and (ii) of this sentence, as
determined by the Committee. Any accelerated payout pursuant to this Section 9 shall be made in a single payment within 30 days after the date of the Change of Control. 

To the extent an Option or SAR is not vested or exercisable, or an Equity Participation Share or Restricted Share does not vest, pursuant to
the preceding provisions of this Section 9 or the Award Agreement upon the Change of Control, the Committee may, in its discretion, cancel 

  
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such Award or provide for an assumption of such Award or a replacement grant on substantially the same terms; provided, however, upon any cancellation of an Option or SAR that has an exercise
price less than the Fair Market Value of a Share as of the date of cancellation or an Equity Participation Share or Restricted Share, the holder shall be paid an amount in Shares or cash and/or other property or any combination of cash and/or other
property, as determined by the Committee, equal to the difference between the Fair Market Value of a Share and the exercise price if an Option or SAR or equal to the Fair Market Value of a Share, if an Equity Participation Share or Restricted Share.

  

	10.	Amendment and Termination. 

 Except as required by applicable law or the rules of the
principal securities exchange on which the Shares are traded, the Board may amend, alter, suspend, discontinue, or terminate the Plan in any manner, including increasing the number of Shares available for Awards under the Plan, without the consent
of any Participant, any other holder or beneficiary of an Award or any other Person. 
  

	11.	General Provisions. 

 (a) No Rights to Award. No Person shall have any claim to be
granted any Award under the Plan, and there is no obligation for uniformity of treatment of Participants. The terms and conditions of Awards need not be the same with respect to each recipient. 

(b) Tax Withholding. The Company or any Affiliate is authorized to withhold from any Award, from any payment due or transfer made under
any Award or from any compensation or other amount owing to a Participant the amount (in cash, Shares, other securities, or other property) of any applicable taxes payable at the minimum statutory rate in respect of the grant of an Award, its
exercise, the lapse of restrictions thereon, or any payment or transfer under an Award or under the Plan and to take such other action as may be necessary in the opinion of the Company or such Affiliate to satisfy its withholding obligations for the
payment of such taxes. 
 (c) No Right to Employment or Services. The grant of an Award shall not be construed as giving a
Participant the right to be retained as an Employee, Consultant or Director, as applicable. Further, the Company or an Affiliate may at any time dismiss a Participant from employment or service at any time. 

(d) Governing Law. The validity, construction, and effect of the Plan and any rules and regulations relating to the Plan shall be
determined in accordance with the laws of the State of Delaware without regard to its conflict of laws principles. 
 (e)
Severability. If any provision of the Plan or any Award is or becomes or is deemed to be invalid, illegal, or unenforceable in any jurisdiction or as to any Person or Award, or would disqualify the Plan or any Award under any law deemed
applicable by the Committee, such provision shall be construed or deemed amended to conform to the applicable laws, or if it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of the
Plan or the Award, such provision shall be stricken as to such jurisdiction, person or Award and the remainder of the Plan and any such Award shall remain in full force and effect. 

  
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 (f) Other Laws. The Committee may refuse to issue or transfer any Shares or other
consideration under an Award if, in its sole discretion, it determines that the issuance or transfer of such Shares or such other consideration might violate any applicable law or regulation, the rules of the principal securities exchange on which
the Shares are then traded, or entitle the Partnership or an Affiliate to recover the same under Section 16(b) of the Exchange Act, and any payment tendered to the Company by a Participant, other holder or beneficiary in connection with the
exercise of such Award shall be promptly refunded to the relevant Participant, holder or beneficiary.  
 (g) No Trust or
Fund Created. Neither the Plan nor any Award shall create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Partnership, Company or any participating Affiliate and a Participant or any other
Person. To the extent that any Person acquires a right to receive payments from the Partnership, Company or any Affiliate pursuant to an Award, such right shall be no greater than the right of any general unsecured creditor of the Partnership,
Company or any participating Affiliate.  
 (h) No Fractional Shares. No fractional Shares shall be issued or delivered
pursuant to the Plan or any Award, and the Committee shall determine whether cash, other securities, or other property shall be paid or transferred in lieu of any fractional Shares or whether such fractional Shares or any rights thereto shall be
canceled, terminated, or otherwise eliminated.  
 (i) Facility of Payment. Any amounts payable hereunder to any person
under legal disability or who, in the judgment of the Committee, is unable to properly manage his financial affairs, may be paid to the legal representative of such person, or may be applied for the benefit of such person in any manner which the
Committee may select, and the Partnership, Company and its Affiliates shall be relieved of any further liability for payment of such amounts.  

(j) Gender and Number. Words in the masculine gender shall include the feminine gender, the plural shall include the singular
and the singular shall include the plural.  
 (k) No Guarantee of Tax Consequences. None of the Board, the
Partnership, the Company, any Affiliate nor the Committee makes any commitment or guarantee that any federal, state or local tax treatment will apply or be available to any person participating or eligible to participate hereunder. 

 

	12.	Section 409A of the Code. 

 (a) Awards made under this Plan are intended to comply
with or be exempt from Section 409A of the Code, and ambiguous provisions hereof, if any, shall be construed and interpreted in a manner consistent with such intent. No payment, benefit or consideration shall be substituted for an Award if such
action would result in the imposition of taxes under Section 409A of the Code. Notwithstanding anything in this Plan to the contrary, if any Plan provision or Award under this Plan would result in the imposition of an additional tax under
Section 409A of the Code, that Plan provision or Award shall be reformed, to the extent permissible under Section 409A of the Code, to avoid imposition of the additional tax, and no such action shall be deemed to adversely affect the
Participant’s rights to an Award. 

  
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 (b) Unless the Committee provides otherwise in an Award Agreement, each DER, Restricted Share or
Equity Participation Share (or portion thereof if the Award is subject to a vesting schedule) shall be settled no later than the 15th day of the third month after the end of the first calendar year in which the Award (or such portion thereof) is no
longer subject to a “substantial risk of forfeiture” within the meaning of Section 409A of the Code. If the Committee determines that a DER, Restricted Share or Equity Participation Share is intended to be subject to Section 409A
of the Code, the applicable Award Agreement shall include terms that are designed to satisfy the requirements of Section 409A of the Code. 

(c) If the Participant is identified by the Company as a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of
the Code on the date on which the Participant has a “separation from service” (other than due to death) within the meaning of Treasury Regulation § 1.409A-1(h), any Award payable or settled on account of a separation from service that
is deferred compensation subject to Section 409A of the Code shall be paid or settled on the earliest of (1) the first business day following the expiration of six months from the Participant’s separation from service, (2) the
date of the Participant’s death, or (3) such earlier date as complies with the requirements of Section 409A of the Code. 
  

	13.	Term of the Plan. 

 The Plan has been approved by the Board and the limited partner of
the Partnership effective as of May 1, 2015. The Plan shall terminate on, and no Awards may be granted after, the earliest of the date established by the Board or the Committee, the date that Shares are no longer available for delivery pursuant
to Awards under the Plan or the 10-year anniversary of the adoption of the Plan. However, unless otherwise expressly provided in the Plan or in an applicable Award Agreement, any Award granted prior to such termination, and the authority of the
Committee to amend, alter, adjust, suspend, discontinue, or terminate any such Award or to waive any conditions or rights under such Award, shall extend beyond such termination date. 

  
 -10-

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