Document:

EX-10.7

 Exhibit 10.7 

CFO SIGN-ON RSU AWARD AGREEMENT 

This CLASS A RESTRICTED SHARE UNIT AWARD AGREEMENT (this “Award Agreement”), dated July 19, 2018, is made by and between
OZ Management LP, a Delaware limited partnership (the “Partnership”), and Thomas M. Sipp (the “Participant”). Capitalized terms not defined herein shall have the meaning ascribed to them in the Och-Ziff Capital Management Group LLC 2013 Incentive Plan (the “Plan”). Where the context permits, references to the Partnership shall include any successor to the Partnership. 

1. Grant of Restricted Share Units. 

(a) Subject to all of the terms and conditions of this Award Agreement, the Plan, and the Partner Agreement (as defined below), the
Partnership hereby grants to the Participant 3,000,000 Class A restricted share units (the “RSUs”), effective as of May 3, 2018. This grant is being made in satisfaction of the grant of
Sign-On RSUs (as defined in the Partner Agreement) under Section 5 of the Partner Agreement. 

(b) For purposes of this Award Agreement, “Partner Agreement” means the Partner Agreement between the Partnership and the
Participant, dated July 19, 2018 and effective as of May 3, 2018, as amended, supplemented or restated from time to time. 
 (c)
For purposes of this Award Agreement, “Limited Partnership Agreement” means the Amended and Restated Agreement of Limited Partnership of the Partnership dated as of March 1, 2017, as amended, supplemented or restated from time
to time. 
 2. Form of Payment. 

(a) Except as otherwise provided in this Award Agreement (including Exhibit A hereto) or the Plan, each RSU granted hereunder shall represent
the right to receive, in the sole discretion of the Administrator, either (i) one Class A Share or (ii) cash equal to the Fair Market Value of one Class A Share, in either case, on the third business day following the date such
RSU becomes vested in accordance with the vesting schedule set forth in Exhibit A hereto (the “Vesting Schedule”). 
 (b)
In addition, the Participant will be credited with Distribution Equivalents with respect to the RSUs, calculated as follows: with respect to any RSUs granted on or prior to the record date applicable to a cash distribution, on each date that any
such cash distribution is paid to all holders of Class A Shares while the RSUs are outstanding, the Participant’s account shall be credited, in the sole discretion of the Administrator, with one of the following: (i) the right to
receive an amount of cash equal to the amount of such Distribution Equivalents or (ii) an additional number of RSUs equal to the number of whole Class A Shares (valued at Fair Market Value on such date or the immediately preceding trading
day as determined by the Administrator in its discretion) that could be purchased on such date with the aggregate dollar amount of the 

 
cash distribution that would have been paid on the RSUs had the RSUs been issued as Shares. The right to receive cash or additional RSUs credited under this Section shall be subject to the same
terms and conditions applicable to the RSUs originally awarded hereunder and will be settled on the same date as the RSUs in respect of which such Distribution Equivalents are awarded. Any RSUs credited to the Participant’s account may, in the
sole discretion of the Administrator as determined at the time such Distribution Equivalent is credited to the Participant’s account, be eligible to receive additional Distribution Equivalents. The Distribution Equivalents referenced in this
Section 2(b) may be granted under the Plan or any predecessor or successor thereto. Where the context permits, references to RSUs shall include any RSUs credited to the Participant’s account as Distribution Equivalents with respect to such
RSUs. 
 3. Restrictions. 

(a) The RSUs may not be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of or encumbered, and shall be subject to a
risk of forfeiture until vested in accordance with the terms of the Vesting Schedule and until any additional requirements or restrictions contained in this Award Agreement, the Plan and the Partner Agreement have been otherwise satisfied,
terminated or expressly waived by the Partnership in writing. 
 (b) The RSUs shall become vested in accordance with the Vesting Schedule
and the Class A Shares or cash-equivalent amount to which such vested RSUs relate shall become issuable or payable on the third business day thereafter (provided, that such issuance or payment is otherwise in accordance with federal and state
securities and tax laws, including satisfaction of all withholding requirements). 
 (c) Any Class A Shares delivered in respect of any
RSUs, any proceeds received by the Participant in respect of any such Class A Shares that were sold, and any dividends or other distributions received by the Participant on any such Class A Shares (or credited as a Distribution Equivalent
on any RSU) shall be subject to all applicable provisions of the Partner Agreement, including without limitation, the forfeiture and clawback provisions set forth in Section 7(b)(ii) and Section 7(d) of the Partner Agreement. 

4. Voting and Other Rights. The Participant shall have no rights of a shareholder (including the right to distributions) unless and
until Class A Shares are issued following vesting of the Participant’s RSUs. 
 5. Conflicting Provisions. This Award
Agreement is made pursuant to all of the provisions of the Plan, which is incorporated herein by this reference, and is intended, and shall be interpreted in a manner, to comply therewith. In the event of any conflict between the provisions of this
Award Agreement and/or the Plan and the provisions of the Partner Agreement, the provisions of this Award Agreement shall govern. 
 6.
No Rights to Continuation of Active Service. Nothing in the Plan or this Award Agreement shall confer upon the Participant any right to continue as a 

  
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limited partner of, or otherwise in the employ or service of, the Partnership or any of its Subsidiaries or Affiliates, or shall interfere with or restrict the right of the Partnership or its
Subsidiaries or Affiliates, as the case may be, to terminate the Participant’s active involvement at any time for any reason whatsoever, with or without cause. 

7. Section 409A Compliance. The intent of the parties is that payments and benefits under this Award Agreement comply with
Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) to the extent subject thereto, and, accordingly, to the maximum extent permitted, this Award Agreement shall be interpreted and be administered to be in
compliance therewith. Notwithstanding anything contained herein to the contrary, to the extent required in order to avoid accelerated taxation and/or tax penalties under Section 409A of the Code, the Participant shall not be considered to have
terminated employment or service for purposes of this Award Agreement until the Participant would be considered to have incurred a “separation from service” within the meaning of Section 409A of the Code. Any payments described in
this Award Agreement or the Plan that are due within the “short-term deferral period” as defined in Section 409A of the Code shall not be treated as deferred compensation unless applicable law requires otherwise. To the extent
required in order to avoid accelerated taxation and/or tax penalties under Section 409A of the Code, payment shall be made in accordance with Exhibit A, notwithstanding any provision for accelerated vesting under the Plan. To the extent
required in order to avoid accelerated taxation and/or tax penalties under Section 409A of the Code, no Change of Control shall be deemed to have occurred unless it constitutes a change in control event under Section 409A. Notwithstanding
anything to the contrary in this Award Agreement or the Plan, to the extent that any RSUs are payable to a “specified employee” (within the meaning of Section 409A of the Code) upon a separation from service and such payment would
result in the imposition of any individual penalty tax or late interest charges imposed under Section 409A of the Code, the settlement and payment of such awards shall instead be made on the first business day after the date that is six
(6) months following such separation from service (or death, if earlier). To the extent required to avoid accelerated taxation and/or tax penalties under Section 409A of the Code, if a period specified for execution of a release of claims
begins in one taxable year and ends in a second taxable year, the settlement or payment of the awards shall occur in the second taxable year. 

8. Governing Law; Submission to Jurisdiction. This Award Agreement shall be governed by, interpreted under, and construed and enforced
in accordance with the internal laws, and not the laws pertaining to conflicts or choices of laws, of the State of Delaware applicable to agreements made and to be performed wholly within the State of Delaware. The Participant hereby submits to and
accepts for himself and in respect of his property, generally and unconditionally, the exclusive jurisdiction of the state and federal courts of the State of Delaware for any dispute arising out of or relating to this Award Agreement or the breach,
termination or validity thereof. The Participant further irrevocably consents to the service of process out of any of the aforementioned courts in any such action or proceeding by the mailing of copies thereof by certified or registered mail return
receipt requested or by receipted courier service to the Participant at the address for the Participant in the books and records of the Partnership. 

  
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 9. Award Agreement Binding on Successors. The terms of this Award Agreement shall be
binding upon the Participant and upon the Participant’s heirs, executors, administrators, personal representatives, permitted transferees, assignees and successors in interest, and upon the Partnership and its successors and assignees, subject
to the terms of the Plan. 
 10. No Assignment. Notwithstanding anything to the contrary in this Award Agreement, neither this Award
Agreement nor any rights granted herein shall be assignable by the Participant. 
 11. Necessary Acts. The Participant hereby agrees
to perform all acts, and to execute and deliver any documents that may be reasonably necessary to carry out the provisions of this Award Agreement or that may reasonably be required of the Participant by the Partnership, including but not limited to
all acts and documents related to compliance with federal and/or state securities and/or tax laws. 
 12. Severability. Should any
provision of this Award Agreement be held by a court of competent jurisdiction to be unenforceable, or enforceable only if modified, such holding shall not affect the validity of the remainder of this Award Agreement, the balance of which shall
continue to be binding upon the parties hereto with any such modification (if any) to become a part hereof and treated as though contained in this original Award Agreement. Moreover, if one or more of the provisions contained in this Award Agreement
shall for any reason be held to be excessively broad as to scope, activity, subject or otherwise so as to be unenforceable, in lieu of severing such unenforceable provision, such provision or provisions shall be construed by the appropriate judicial
body by limiting or reducing it or them, so as to be enforceable to the maximum extent compatible with the applicable law as it shall then appear, and such determination by such judicial body shall not affect the enforceability of such provisions or
provisions in any other jurisdiction. 
 13. Entire Award Agreement. This Award Agreement, the Plan and the Partner Agreement contain
the entire agreement and understanding among the parties as to the subject matter hereof. 
 14. Headings. Section headings
(including those in Exhibit A attached hereto) are used solely for the convenience of the parties and shall not be deemed to be a limitation upon or descriptive of the contents of any such Section. 

15. Counterparts. This Award Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original
and all of which together shall be deemed to be one and the same instrument. 
 16. Amendment. Except as specifically provided in the
Partner Agreement, no amendment or modification hereof shall be valid unless it shall be in writing and signed by all parties hereto and no such amendment or modification shall be made to the extent it violates Section 409A of the Code. 

[SIGNATURE PAGE TO FOLLOW] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Award Agreement as of the date first
set forth above. 
 OZ MANAGEMENT LP 
 By: Och-Ziff Holding Corporation, its General Partner 
  

			
		
	By:	 	 /s/ Robert Shafir

	Name: Robert Shafir
	Title: Chief Executive Officer

 The undersigned hereby accepts and agrees to all the terms and provisions of the foregoing Award Agreement. 

PARTICIPANT 
  

			
		
	Signature:	 	 /s/ Thomas M. Sipp

		
	Name:	 	 Thomas M. Sipp

		
	Address:	 	  

	
	  

	
	  

	
	  

  
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 CFO SIGN-ON RSU AWARD AGREEMENT 

EXHIBIT A 
 1. General
Vesting Schedule. Subject to Sections 2 and 3 below, one third (1/3) of the RSUs shall vest on each of the first three anniversaries of May 3, 2018 (each, a “Vesting Date”) (and settle pursuant to Section 3(b) of this
Award Agreement), provided that the Participant remains an Active Individual LP (as defined in the Partner Agreement) through the applicable Vesting Date (and must not have provided notice of his intention to become subject to a Withdrawal due to
Resignation (as defined in the Partner Agreement) on or before such date). If the Participant ceases to be an Active Individual LP prior to the applicable Vesting Date, all of the RSUs then held by the Participant shall be forfeited, except as
otherwise provided in this Exhibit A. 
 2. Termination of Service. 

a. Withdrawal for Cause. If the Participant is subject to a Withdrawal for Cause (as defined in the Partner Agreement), all of the RSUs
then held by the Participant shall be forfeited as of the date of such Withdrawal. 
 b. Withdrawal without Cause. If the Term (as
defined in the Partner Agreement) is terminated by the Partnership and the Participant is subject to a Withdrawal without Cause (as defined in the Partner Agreement) prior to the Scheduled Expiration of the Term (as defined in the Partner
Agreement), then 50% of the unvested RSUs then held by the Participant (applied equally across each remaining vesting installment) shall become vested on the date such RSUs would have otherwise vested in accordance with Section 1 of this
Exhibit A (and settle pursuant to Section 3(b) of this Award Agreement), and the remaining unvested RSUs shall be forfeited as of the date of such Withdrawal. 

c. Death or Disability. In the event of the Participant ceasing to be an Active Individual LP due to death or Disability (as defined in
the Limited Partnership Agreement) prior to the Scheduled Expiration of the Term, each RSU then held by the Participant shall become vested on the date such RSU would have otherwise vested in accordance with Section 1 of this Exhibit A (and
settle pursuant to Section 3(b) of this Award Agreement). 
 d. Non-Extension of the Term.
In the event the Term is not extended pursuant to Section 1(d) of the Partner Agreement, each RSU then held by the Participant shall become vested on the date such RSU would have otherwise vested in accordance with Section 1 of this
Exhibit A (and settle pursuant to Section 3(b) of this Award Agreement). 
 3. Change of Control. If the Participant is
subject to a Withdrawal without Cause within the 12 months following any Change of Control, all of the RSUs then held by the Participant shall become vested on the date of such Withdrawal (and settle pursuant to Section 3(b) of this Award
Agreement). 

 4. Continued Compliance with Restrictive Covenants; Release. As a condition precedent to
any continued vesting of the RSUs permitted under the terms of this Award Agreement, the Plan, or the Partner Agreement, as applicable, after the Participant ceases to be an Active Individual LP (other than due to death), the Participant must:
(x) execute a general release agreement in compliance with Section 8.3(g) of the Limited Partnership Agreement, and such general release must become effective as provided therein, and (y) continue to comply with all applicable
restrictive covenants to which the Participant is subject, whether contained in the Limited Partnership Agreement, the Partner Agreement or otherwise.Exhibit

Exhibit 10.1

TALLGRASS ENERGY GP, LLC
LONG-TERM INCENTIVE PLAN
(As Amended and Restated Effective August 2, 2018)

1.History and Purpose of the Plan. 
The Tallgrass Energy GP, LLC Long-Term Incentive Plan (f/k/a TEGP Management, LLC Long-Term Incentive Plan) was originally adopted by Tallgrass Energy GP, LLC, a Delaware limited liability company (f/k/a TEGP Management, LLC, the “Company”), the general partner of Tallgrass Energy, LP (f/k/a Tallgrass Energy GP, LP), a Delaware limited partnership (the “Partnership”) effective as of May 1, 2015. The Tallgrass Energy GP, LLC Long-Term Incentive Plan is amended and restated effective August 2, 2018 (as amended, the “Plan”). 
The Plan 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.

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

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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 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 issued by the Partnership, 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. 

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(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 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. 
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. 

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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 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 required by law to be payable 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. 

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(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. 
(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 was 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 (i) the date established by the Board or the Committee, (ii) May 1, 2025 (or such earlier date, if any, required by the rules of the exchange on which Shares are traded), or (iii) the date Shares are no longer available for delivery pursuant to Awards under 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.

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