Document:

Twelfth Supplemental Indenture

 Exhibit 4.2 
 ENBRIDGE ENERGY PARTNERS, L.P. 
 as Issuer 

and 

U.S. BANK NATIONAL ASSOCIATION 
 as Trustee 
 $600,000,000 

4.20% NOTES DUE 2021 
 TWELFTH 
 SUPPLEMENTAL 

INDENTURE 
  

 
 Dated as of
September 15, 2011 

 TABLE OF CONTENTS 

 

									
	 	 	 	 	 	  	Page	 
			
	 ARTICLE I
	 	 ESTABLISHMENT OF NEW SERIES
	  	 	1	  
			
	 Section 1.01.
	 	 Establishment of New Series
	  	 	1	  
			
	 ARTICLE II
	 	 DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	2	  
			
	 Section 2.01.
	 	 Definitions
	  	 	2	  
			
	 ARTICLE III
	 	 THE NOTES
	  	 	2	  
			
	 Section 3.01.
	 	 Form
	  	 	2	  
			
	 Section 3.02.
	 	 Issuance of Additional Notes
	  	 	2	  
			
	 Section 3.03.
	 	 Transfer of Securities
	  	 	2	  
			
	 ARTICLE IV
	 	 REDEMPTION
	  	 	3	  
			
	 Section 4.01.
	 	 Optional Redemption
	  	 	3	  
			
	 Section 4.02.
	 	 Mandatory Redemption
	  	 	3	  
			
	 ARTICLE V
	 	 COVENANT SUPPLEMENTS
	  	 	3	  
			
	 Section 5.01.
	 	 Covenants of the Partnership
	  	 	3	  
			
	 ARTICLE VI
	 	 ADDITIONAL EVENT OF DEFAULT
	  	 	3	  
			
	 Section 6.01.
	 	 Events of Default
	  	 	3	  
			
	 ARTICLE VII
	 	 MISCELLANEOUS
	  	 	4	  
			
	 Section 7.01.
	 	 Integral Part
	  	 	4	  
			
	 Section 7.02.
	 	 Adoption, Ratification and Confirmation
	  	 	4	  
			
	 Section 7.03.
	 	 Counterparts
	  	 	4	  
			
	 Section 7.04.
	 	 Governing Law
	  	 	4	  
			
	 Section 7.05.
	 	 Trustee Makes No Representation
	  	 	4	  

  
 -i-

 TWELFTH SUPPLEMENTAL INDENTURE dated as of September 15, 2011
(this “Supplemental Indenture”), between Enbridge Energy Partners, L.P., a Delaware limited partnership (the “Partnership” or the “Issuer”), and U.S. Bank National Association, a national
banking association, as successor trustee to SunTrust Bank (the “Trustee”), 
 W I T N E S S E T H:

 WHEREAS, the Issuer has heretofore entered into an Indenture, dated as of May 27, 2003 (the
“Original Indenture”), with the Trustee; 
 WHEREAS, the Original Indenture, as supplemented by this
Supplemental Indenture, is herein called the “Indenture”; 
 WHEREAS, under the Original Indenture, the
form and terms of a new series of Debt Securities may at any time be established by a supplemental Indenture executed by the Issuer and the Trustee; 
 WHEREAS, the Issuer proposes to create under the Indenture a new series of Debt Securities; 
 WHEREAS, additional Debt Securities of other series hereafter established, except as may be limited in the Original Indenture as at the time supplemented and modified, may be issued from time to
time pursuant to the Original Indenture as at the time supplemented and modified; and 
 WHEREAS, all conditions
necessary to authorize the execution and delivery of this Supplemental Indenture and to make it a valid and binding obligation of the Issuer have been done or performed. 
 NOW, THEREFORE, in consideration of the agreements and obligations set forth herein and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties
hereto hereby agree as follows: 
 ARTICLE I 
 ESTABLISHMENT OF NEW SERIES 
 Section 1.01. Establishment of New
Series. 
 (a) There is hereby established a new series of Debt Securities to be issued under the Indenture, to be
designated as the Issuer’s 4.20% Notes due 2021 (the “Notes”). 
 (b) There are to be authenticated and
delivered $600,000,000 principal amount of Notes on the Issue Date, and from time to time thereafter there may be authenticated and delivered an unlimited principal amount of Additional Notes. 

 (c) The Notes shall be issued initially in the form of one or more Global Securities in
substantially the form set out in Exhibit A hereto. The Depositary with respect to the Notes shall be The Depository Trust Company. 
 (d) Initially, there shall be no Subsidiary Guarantors. Each Note shall be dated the date of authentication thereof and shall bear interest as provided in paragraph 1 of the form of Note in
Exhibit A hereto. 
 (e) If and to the extent that the provisions of the Original Indenture are duplicative of, or
in contradiction with, the provisions of this Supplemental Indenture, the provisions of this Supplemental Indenture shall govern. 
 ARTICLE II 
 DEFINITIONS AND INCORPORATION BY REFERENCE 

Section 2.01. Definitions. All capitalized terms used herein and not otherwise defined below shall have the meanings ascribed
thereto in the Original Indenture. The following are additional definitions used in this Supplemental Indenture: 

“Additional Notes” has the meaning assigned to it in Section 3.02 hereof. 

“Notes” has the meaning assigned to it in Section 1.01(a) hereof. 

ARTICLE III 

THE NOTES 

Section 3.01. Form. The Notes shall be issued initially in the form of one or more Global Securities, and the Notes and
Trustee’s certificate of authentication shall be substantially in the form of Exhibit A hereto, the terms of which are incorporated in and made a part of this Supplemental Indenture, and the Issuer and the Trustee, by their
execution and delivery of this Supplemental Indenture, expressly agree to such terms and provisions and to be bound thereby. 

Section 3.02. Issuance of Additional Notes. The Issuer may, from time to time, issue an unlimited amount of additional Notes
(“Additional Notes”) under the Indenture, which shall be issued in the same form as the Notes issued on the Issue Date and which shall have identical terms as the Notes issued on the Issue Date other than with respect to the issue
date, issue price and date of first payment of interest. The Notes issued on the Issue Date shall be limited in aggregate principal amount to $600,000,000. The Notes issued on the Issue Date and any Additional Notes subsequently issued shall be
treated as a single series for purposes of giving of notices, consents, waivers, amendments and taking any other action permitted under the Indenture and for purposes of interest accrual and redemptions. 

Section 3.03. Transfer of Securities. 
 (a) When Notes are presented to the Registrar with the request to register the transfer of such Notes or exchange such Notes for an equal principal amount of Notes of other authorized denominations, the
Registrar shall register the transfer or make the exchange in accordance with Article II of the Original Indenture. 

  
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 (b) Each security certificate evidencing the Global Securities shall bear a legend
substantially in the form set forth in Section 2.15(a) of the Original Indenture. 
 ARTICLE IV 

REDEMPTION 

Section 4.01. Optional Redemption. 
 (a) At its option, the Issuer may choose to redeem all or any portion of the Notes, at once or from time to time. 
 (b) To redeem the Notes, the Issuer must pay a redemption price in an amount determined in accordance with the provisions of paragraph 5 of the form of Note in Exhibit A hereto, plus accrued
and unpaid interest, if any, to the Redemption Date (subject to the right of Holders on the relevant record date to receive interest due on the relevant interest payment date). 

(c) Any redemption pursuant to this Section 4.01 shall otherwise be made pursuant to the provisions of Sections 3.01 through
3.03 of the Original Indenture. The actual redemption price, calculated as provided in paragraph 5 of the form of Note in Exhibit A hereto, shall be certified in writing to the Issuer and the Trustee by the Independent Investment Banker (as
defined in such paragraph 5) no later than two Business Days prior to each Redemption Date. 
 Section 4.02. Mandatory
Redemption. The Issuer shall not be required to make mandatory redemption or sinking fund payments with respect to the Notes and shall have no obligation to repurchase any Notes at the option of the Holders. 

ARTICLE V 

COVENANT SUPPLEMENTS 
 Section 5.01. Covenants of the Partnership. Article IV of the Original Indenture is hereby supplemented, but only in relation to the Notes, by the addition of the following new Section at the
end of Article IV: 
 “Section 4.14. Subsidiary Guarantees. If any Subsidiary of the Partnership that is not then a
Subsidiary Guarantor becomes a guarantor or co-obligor of any Funded Debt of the Partnership, in either case after the Issue Date, then the Partnership shall cause such Subsidiary to promptly execute and deliver a supplemental indenture,
substantially in the form of Exhibit B hereto, providing for the Guarantee of the payment of the Notes pursuant to Article XIV hereof.” 
 ARTICLE VI 
 ADDITIONAL EVENT OF DEFAULT 

Section 6.01. Events of Default. The following shall be deemed an Event of Default only with respect to the Notes as provided in
Section 6.01(h) of the Original Indenture: 
 “(h) default by the Partnership or any of its
Subsidiaries in the payment at the Stated Maturity, after the expiration of any applicable grace period, of principal of, premium, if any, or interest on any Debt then outstanding having a 

  
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principal amount in excess of the greater of $25 million and 2% of total partners’ capital in the Partnership, or acceleration of any Debt having a principal amount in excess of the greater
of such amounts so that it becomes due and payable prior to its Stated Maturity and such acceleration is not rescinded within 30 days after the date on which written notice specifying such default shall have been given to the Partnership by the
Trustee or to the Partnership and the Trustee by the Holders of at least 25% in aggregate principal amount of the Notes at the time Outstanding. The occurrence and continuance of a default under the foregoing shall be deemed an Event of Default
under Section 6.01(h) of the Original Indenture with respect to the Notes.” 
 ARTICLE VII 

MISCELLANEOUS 
 Section 7.01. Integral Part. This Supplemental Indenture constitutes an integral part of the Indenture. 
 Section 7.02. Adoption, Ratification and Confirmation. The Original Indenture, as supplemented and amended by this Supplemental Indenture, is in all respects hereby adopted, ratified and confirmed.

 Section 7.03. Counterparts. This Supplemental Indenture may be executed in any number of counterparts, each of which
when so executed shall be deemed an original; and all such counterparts shall together constitute but one and the same instrument. 
 Section 7.04. Governing Law. THIS SUPPLEMENTAL INDENTURE AND THE NOTES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 

Section 7.05. Trustee Makes No Representation. The Trustee makes no representation as to the validity or sufficiency of this
Supplemental Indenture. 
 [Signatures on following page] 

  
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 SIGNATURES 

 

					
	ISSUER:
	
	ENBRIDGE ENERGY PARTNERS, L.P.
		
	By:	 	 Enbridge Energy Management, L.L.C.
 as delegate of Enbridge Energy Company, Inc.,
 its General Partner

			
		 	By:	 	 /s/ Mark A. Maki

		 		 	Mark A. Maki
		 		 	President
	
	TRUSTEE:
	
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
			
		 	By:	 	 /s/ Felicia H. Powell

		 		 	Name: Felicia H. Powell
		 		 	Title: ASSISTANT VICE PRESIDENT

 EXHIBIT A 
 (Form of Face of Note) 
  

			
	No.                     	 	$                        
		
	ISIN US29250RAU05	 	CUSIP No. 29250R AU0

 ENBRIDGE ENERGY PARTNERS, L.P. 

4.20% Notes due 2021 
 Enbridge Energy Partners, L.P., a Delaware limited partnership, promises to pay to
                                        , or
registered assigns, the principal sum of                      Dollars [or such greater or lesser amount as may be endorsed on the Schedule attached
hereto]1 on September 15, 2021. 

Interest Payment Dates: March 15 and September 15, commencing March 15, 2012 
 Record Dates: March 1 and September 1 
  

					
	ENBRIDGE ENERGY PARTNERS, L.P.
		
	By:	 	 Enbridge Energy Management, L.L.C.
 as delegate of Enbridge Energy Company, Inc.,
 its General Partner

			
		 	By:	 	  

		 		 	Name:
		 		 	Title:

 TRUSTEE’S CERTIFICATE 
 OF AUTHENTICATION 
 This is one of the Debt Securities of the series designated
therein referred to in the within-mentioned Indenture. 
  

			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	  

		 	Authorized Signatory

 Dated
                     
  

	1 	 To be included only if the Note is issued in global form. 

  
 A-1

 (Form of Back of Note) 

4.20% Notes due 2021 
 [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE PARTNERSHIP OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO.,
OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF
DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO HEREIN.]2 

Capitalized terms used herein shall have the meanings assigned to them in the Indenture referred to below unless otherwise indicated.

 1. Interest. Enbridge Energy Partners, L.P., a Delaware limited partnership (the “Partnership” or the
“Issuer”), promises to pay interest on the principal amount of this Note at 4.20% per annum from September 15, 2011 until maturity. The Issuer shall pay interest semi-annually on March 15 and September 15 of each
such year, or if any such day is not a Business Day, on the next succeeding Business Day (each an “Interest Payment Date”). Interest on the Notes shall accrue from the most recent date to which interest has been paid or, if no
interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest
Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be March 15, 2012. The Issuer shall pay interest (including post-petition interest in any
proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at the same rate; and it shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue
installments of interest (without regard to any applicable grace periods) from time to time on demand at the same rate to the extent lawful. Interest shall be computed on the basis of a 360-day year of twelve 30-day months. 

 

	2 	To be included only if note is issued in global form. 

  
 A-2

 2. Method of Payment. The Issuer shall pay interest on the Notes (except
Defaulted Interest) to the Persons who are registered Holders of Notes at the close of business on the March 1 and September 1 immediately preceding the Interest Payment Date, even if such Notes are canceled after such record date and on
or before such Interest Payment Date, except as provided in Section 2.17 of the Original Indenture with respect to Defaulted Interest, and the Issuer shall pay principal (and premium, if any) of the Notes upon surrender thereof to the Trustee
or a paying agent on or after the Stated Maturity thereof. The Notes shall be payable as to principal, premium, if any, and interest at the office or agency of the Trustee maintained for such purpose (which initially is c/o U.S. Bank National
Association, 100 Wall Street, 16th Floor, New York, New
York 10005), or, at the option of the Issuer, payment of interest may be made by check mailed to the Holders at their addresses set forth in the register of Holders, and provided that payment by wire transfer of immediately available funds shall be
required with respect to principal of, and interest and premium, if any, on, (a) each Global Security and (b) all other Notes aggregating at least $1,000,000 in principal amount the Holder of which shall have provided wire transfer
instructions to the Issuer or the paying agent on or prior to the applicable record date. Such payment shall be in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private
debts. 
 3. Paying Agent and Registrar. Initially, U.S. Bank National Association, the successor Trustee under the Indenture,
shall act as paying agent and Registrar. The Issuer may change any paying agent or Registrar without notice to any Holder. The Partnership may act in any such capacity. 
 4. Indenture. The Issuer issued the Notes under an Indenture dated as of May 27, 2003 (the “Original Indenture”), as supplemented by the Twelfth Supplemental Indenture dated as
of September 15, 2011 (the “Supplemental Indenture” and, together with the Original Indenture, the “Indenture”), between the Issuer and the Trustee. The terms of the Notes include those stated in the Indenture
and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb). The Notes are subject to all such terms, and Holders are referred to the Indenture and such Act for a
statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. The Notes are the obligation of the Issuer, initially in
aggregate principal amount of $600,000,000. The Issuer may issue an unlimited aggregate principal amount of Additional Notes under the Indenture. Any such Additional Notes that are actually issued shall be treated as issued and outstanding Notes
(and as the same series (with identical terms other than with respect to the issue date, issue price and first payment of interest) as the initial Note for the purposes indicated in Section 3.02 of the Supplemental Indenture). Initially, the
Notes are not guaranteed, but in the future they may be guaranteed by one or more Subsidiary Guarantors on the conditions and subject to the terms provided in Section 4.14 of the Indenture and Article XIV of the Original Indenture. 

5. Optional Redemption. 
 (a) At its option, the Issuer may choose to redeem all or any portion of the Notes, at once or from time to time. 

  
 A-3

 (b) To redeem the Notes before the date that is three months prior to their Stated Maturity,
the Issuer must pay a redemption price equal to the greater of (i) 100% of the principal amount of the Notes to be redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes
to be redeemed (exclusive of interest accrued to the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below) plus 35 basis points,
plus, in either case, accrued and unpaid interest, if any, to the Redemption Date (subject to the right of Holders on the relevant record date to receive interest due on the relevant Interest Payment Date). To redeem the Notes on or after the date
that is three months prior to their Stated Maturity, the Issuer must pay a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to the Redemption Date (subject to the right of
Holders on the relevant record date to receive interest due on the relevant Interest Payment Date). The actual redemption price will be calculated and certified to the Trustee and the Partnership by the Independent Investment Banker. 

For purposes of determining the redemption price, the following definitions shall apply: 

“Comparable Treasury Issue” means the United States Treasury security or securities selected by the Independent
Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues
of corporate debt securities of a comparable maturity to the remaining term of the Notes to be redeemed. 
 “Comparable
Treasury Price” means, for any Redemption Date, (1) the average of four Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (2) if the
Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such quotations. 
 “Independent Investment Banker” means Citigroup Global Markets Inc., RBS Securities Inc. and Wells Fargo Securities, LLC, as specified by the Partnership, and any successor firm, or if
such firm is unwilling or unable to select the Comparable Treasury Issue, an independent investment banking institution of national standing appointed by the Trustee after consultation with the Partnership. 

“Reference Treasury Dealer” means each of Citigroup Global Markets Inc., RBS Securities Inc. and a Primary Treasury
Dealer (as defined herein) selected by Wells Fargo Securities, LLC, plus one other dealer selected by the Trustee that is a primary U.S. government securities dealer in New York City (a “Primary Treasury Dealer”) and their respective
successors; provided, however, that if either of the Reference Treasury Dealers ceases to be a Primary Treasury Dealer, then such other primary U.S. government securities dealers as may be substituted by the Trustee. 

  
 A-4

 “Reference Treasury Dealer Quotations” means, for each Reference Treasury
Dealer and any Redemption Date, the average, as determined by the Trustee, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Trustee by such
Reference Treasury Dealer at 3:30 p.m., New York City time, on the third Business Day preceding such Redemption Date. 

“Treasury Rate” means, with respect to any Redemption Date, (1) the yield, under the heading which represents the
average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15(519)” or any successor publication which is published weekly by the Board of Governors of the Federal Reserve System
and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no
maturity is within three months before or after the remaining term of the Notes to be redeemed, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue shall be determined and the Treasury Rate shall be
interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest month) or (2) if such release (or any successor release) is not published during the week in which the calculation date falls (or in the immediately
preceding week if the calculation date falls on any day prior to the usual publication date for such release) or does not contain such yields, the rate per year equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue,
calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. The Treasury Rate shall be calculated on the third Business Day preceding
the Redemption Date. Any weekly average yields calculated by interpolation or extrapolation will be rounded to the nearest 1/100th of 1%, with any figure of 1/200th of 1% or above being rounded upward. 

6. Mandatory Redemption. The Issuer shall not be required to make mandatory redemption or sinking fund payments with respect to the Notes
or to repurchase them at the option of the Holders. 
 7. Notice of Redemption. Notice of redemption shall be mailed at least 30
days but not more than 60 days before the Redemption Date to each Holder whose Notes are to be redeemed at its registered address. Notes may be redeemed in part in multiples of $1,000. On and after the Redemption Date interest shall cease to accrue
on Notes or portions thereof called for redemption and with respect to which the redemption price has been paid. 
 8.
Denominations, Transfer, Exchange. The Notes are in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the
Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents, and the Issuer may require a Holder to pay any taxes or other governmental charges imposed in relation
thereto. 
 9. Persons Deemed Owners. The registered Holder of a Note shall be treated as its owner for all purposes.

  
 A-5

 10. Amendment, Supplement and Waiver. Subject to certain exceptions, the Indenture may be
amended or supplemented with the consent of the Holders of not less than a majority in aggregate principal amount of the then Outstanding Notes, and any existing default or compliance with any provision of the Indenture relating to the Notes may be
waived with the consent of the Holders of not less than a majority in aggregate principal amount of the then Outstanding Notes. Without the consent of any Holder of a Note, the Indenture may be amended or supplemented for any of the purposes set
forth in Section 9.01 of the Indenture, including to cure any ambiguity, defect or inconsistency, to provide for the assumption of the Issuer’s obligations to Holders of the Notes in case of a merger or consolidation of the Issuer or sale
of all or substantially all of the Issuer’s assets, to add or release Subsidiary Guarantors pursuant to the terms of the Indenture, to make any change that does not adversely affect the rights under the Indenture of any Holder of the Notes, to
comply with the requirements of the SEC to permit the qualification of the Indenture under the TIA, to evidence or provide for the acceptance of appointment under the Indenture of a successor or separate Trustee, to add to the covenants of the
Issuer or any Subsidiary Guarantor, to secure the Notes or the Guarantee or to establish the form or terms of any other series of Debt Securities. 
 11. Defaults and Remedies. Events of Default with respect to the Notes include: (i) default for 30 days in the payment when due of interest on the Notes; (ii) default in payment when due of
principal of or premium, if any, on the Notes when due at Stated Maturity, upon redemption or otherwise; (iii) failure by the Partnership or any Subsidiary Guarantor for 60 days after notice to comply with any of its other covenants or
agreements in the Indenture relating to the Notes; (iv) default by the Partnership or any of its Subsidiaries in the payment at the Stated Maturity, after the expiration of any applicable grace period, of principal of, premium, if any, or
interest on any Debt then outstanding having a principal amount in excess of the greater of $25 million and 2% of total partners’ capital in the Partnership, or acceleration of any Debt having a principal amount in excess of the greater of such
amounts so that it becomes due and payable prior to its Stated Maturity and such acceleration is not rescinded within 30 days after notice; (v) except as permitted by the Indenture, any Guarantee shall be held in any judicial proceeding to be
null and void or shall cease to be in full force and effect or any Subsidiary Guarantor shall deny or disaffirm its obligations under the Indenture or its Guarantee; and (vi) certain events of bankruptcy, insolvency or reorganization with
respect to the Issuer or, if and so long as the Notes are guaranteed by a Subsidiary Guarantor, such Subsidiary Guarantor. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of
the then Outstanding Notes may declare all the Notes to be due and payable. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all Outstanding Notes shall become due and payable
without further action or notice. Holders may not enforce the Indenture or the Notes except as provided in the Indenture. Subject to certain limitations, Holders of not less than a majority in aggregate principal amount of the then Outstanding Notes
may direct the Trustee in its exercise of any trust or power. If and so long as the Trustee in good faith so determines, the Trustee may withhold from Holders of the Notes notice of any continuing Default or Event of Default (except a Default or
Event of Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interests. The Holders of not less than a majority in aggregate principal amount of the Notes then Outstanding
by written notice to the Trustee may on behalf of the Holders of all of the Notes waive any existing Default or Event of Default and its consequences under the Indenture except a continuing Default or Event of Default in the

  
 A-6

 
payment of interest on, the principal of, or premium, if any, on, the Notes. The Partnership is required to deliver to the Trustee annually a statement regarding compliance with the Indenture,
and the Partnership is required within 30 days after the occurrence of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default and certain additional information. 

12. Trustee Dealings with Issuer. The Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and
perform services for the Issuer or its Affiliates, and may otherwise deal with the Issuer or its Affiliates, as if it were not the Trustee. 
 13. No Recourse Against Others. The General Partner, Enbridge Energy Management, L.L.C., and their respective directors, officers, employees, incorporators, members and stockholders, as such, shall have
no liability for any obligations of the Issuer or the Subsidiary Guarantors under the Notes, the Indenture or the Guarantee or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes by
accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. 
 14. Authentication. This Note shall not be valid until authenticated by the manual signature of the Trustee or an authenticating agent. 

15. Abbreviations. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common),
TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

16. CUSIP and ISIN Numbers. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the
Issuer has caused CUSIP and corresponding ISIN numbers to be printed on the Notes, and the Trustee may use CUSIP and corresponding ISIN numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of
such numbers either as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 
 The Issuer shall furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to: 
 Enbridge Energy Partners, L.P. 
 1100 Louisiana Street, Suite 3300 

Houston, Texas 77002-5217 
 Attention: General Counsel 

  
 A-7

 Assignment Form 

To assign this Note, fill in the form below: (I) or (we) assign and transfer this Note to 

 
  
  

(Insert assignee’s soc. sec. or tax I.D. no.) 
  

 
  

 
  

 
  

 
 (Print or type assignee’s name,
address and zip code) 
 and irrevocably appoint
                                         
                                         
                                       agent to transfer
this Note on the books of the Issuer. The agent may substitute another to act for him. 
  

			
	Date:	 	  

	
	Your Signature:
	
	  

	(Sign exactly as your name appears on the face of this Note.

			
		
	Signature Guarantee:	 	  

		 	(Signature must be guaranteed by a financial institution that is a member of the Securities Transfer Agent Medallion Program (“STAMP”), the Stock Exchange
Medallion Program (“SEMP”), the New York Stock Exchange, Inc. Medallion Signature Program (“MSP”) or such other signature guarantee program as may be determined by the Registrar in addition to, or in substitution
for, STAMP, SEMP or MSP, all in accordance with the Securities Exchange Act of 1934, as amended.)

  
 A-8

 SCHEDULE OF INCREASES OR DECREASES IN THE GLOBAL NOTE1 

The original principal amount of this Global Note is $            . The
following increases or decreases in this Global Note have been made: 
  

									
	 Date of Exchange
	  	
Amount of decrease in
Principal Amount of this
Global Note
	  	
Amount of increase in
Principal Amount of this
Global Note
	  	 Principal Amount of this
Global Note following
such
decrease
(or increase)
	  	 Signature of authorized
signatory of Trustee or
Note
Custodian

		  		  		  		  	
		  		  		  		  	

  

	1 	 To be included only if the Note is issued in global form. 

  
 A-9

 EXHIBIT B 
 FORM OF SUPPLEMENTAL INDENTURE 
 SUPPLEMENTAL INDENTURE (this
“Supplemental Indenture”), dated as of                     ,     , among Enbridge Energy Partners, L.P., a
Delaware limited partnership (the “Partnership” or the “Issuer”),
                                        (the
“Subsidiary Guarantor”), a direct or indirect subsidiary of the Partnership, and U.S. Bank National Association, a national banking association, as successor trustee to SunTrust Bank, as trustee under the indenture referred to below
(the “Trustee”), 
 W I T N E S S E T H: 

WHEREAS, the Issuer has heretofore executed and delivered to the Trustee an indenture (the “Original Indenture”),
dated as of May 27, 2003, as supplemented by the Twelfth Supplemental Indenture (the “Twelfth Supplemental Indenture” and, together with the Original Indenture, the “Indenture”) dated as of
September 15, 2011, between the Issuer and the Trustee, providing for the issuance of the Issuer’s 4.20% Notes due 2021 (the “Notes”); 
 WHEREAS, Section 4.14 of the Indenture provides that under certain circumstances the Partnership is required to cause the Subsidiary Guarantor to execute and deliver to the Trustee a
supplemental indenture pursuant to which the Subsidiary Guarantor shall unconditionally guarantee all of the Issuer’s obligations under the Notes pursuant to a Guarantee on the terms and conditions set forth herein; and 

WHEREAS, pursuant to Section 9.01 of the Original Indenture, the Issuer and the Trustee are authorized to execute and deliver
this Supplemental Indenture; 
 NOW, THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the Issuer, the Subsidiary Guarantor and the Trustee mutually covenant and agree for the equal and ratable benefit of the holders of the Notes as follows: 

1. Definitions. (a) Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

 (b) For all purposes of this Supplemental Indenture, except as otherwise herein expressly provided or unless the context
otherwise requires: (i) the terms and expressions used herein shall have the same meanings as corresponding terms and expressions used in the Indenture; and (ii) the words “herein,” “hereof” and “hereby” and
other words of similar import used in this Supplemental Indenture refer to this Supplemental Indenture as a whole and not to any particular section hereof. 
 2. Agreement to Guarantee. The Subsidiary Guarantor hereby agrees, jointly and severally with any other Subsidiary Guarantors under the Indenture, to guarantee the Issuer’s obligations under the
Notes and all other amounts due and payable under the Indenture on the terms and subject to the conditions set forth in Article XIV of the Original Indenture and to be bound by all other applicable provisions of the Indenture. To further
evidence the Guarantee set 

  
 B-1

 
forth in Section 14.01 of the Original Indenture, the Subsidiary Guarantor is executing a notation relating to such Guarantee, substantially in the form attached to the Original Indenture as
Annex A. Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of
the Indenture for all purposes, and every holder of Notes heretofore or hereafter authenticated and delivered shall be bound hereby. 
 3. GOVERNING LAW. THIS SUPPLEMENTAL INDENTURE SHALL BE DEEMED TO BE A NEW YORK CONTRACT, AND FOR ALL PURPOSES SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 

4. Trustee Makes No Representation. The Trustee makes no representation as to the validity or sufficiency of this Supplemental Indenture.

 5. Counterparts. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an
original, but all of them together represent the same agreement. 
 6. Effect of Headings. The Section headings herein are for
convenience only and shall not affect the construction thereof. 
 IN WITNESS WHEREOF, the parties hereto have caused
this Supplemental Indenture to be duly executed as of the date first above written. 
  

							
	ENBRIDGE ENERGY PARTNERS, L.P.
			
		 	By:	 	 Enbridge Energy Management, L.L.C.
 as delegate of Enbridge Energy Company, Inc., its General Partner

				
		 		 	By:	 	  

		 		 		 	Name:
		 		 		 	Title:
		
		 	(SUBSIDIARY GUARANTOR)
				
		 		 	By:	 	  

		 		 		 	Name:
		 		 		 	Title:
		
		 	U.S. BANK NATIONAL ASSOCIATION, as Trustee
				
		 		 	By:	 	  

		 		 		 	Name:
		 		 		 	Title:

  
 B-2Separation Agreement - Luis E. Batiz

 Exhibit 10.35 
 SEPARATION AGREEMENT 
 THIS SEPARATION AGREEMENT (the
“Agreement”) is entered into effective as of August 29, 2011 (the “Effective Date”), by and between TPC Group Inc., a Delaware corporation (the “Company”), and Luis Batiz, the undersigned
individual (“Employee”). 
 RECITALS 

WHEREAS, the Company and Employee mutually desire to arrange for Employee’s separation from employment with the Company and its
subsidiaries at a future date under certain terms herein set forth; and 
 WHEREAS, the parties desire to set forth the duties
and responsibilities of Employee’s continued employment with the Company prior to the date of Employee’s separation from employment; and 
 WHEREAS, in consideration of the mutual promises contained herein, Employee voluntarily enters into this Agreement upon the terms and conditions herein set forth; and 

WHEREAS, in consideration of the mutual promises contained herein, the Company is willing to enter into this Agreement upon the terms and
conditions herein set forth. 
 AGREEMENT 
 NOW, THEREFORE, intending to be legally bound and in consideration of the mutual covenants and agreements hereinafter set forth, the Company agrees to employ Employee, and Employee agrees to be employed
by the Company, on the following terms and conditions: 
 1. Full-Time Employment. Employee agrees to continue to serve
as a full-time employee of the Company through January 1, 2012 (the “Termination Date”), or such earlier date on which the Company terminates Employee’s employment. Employee shall initially retain the same position, duties, and
responsibilities as in effect as of the Effective Date; provided, however, that the Company may request that Employee resign his position as an officer of the Company prior to the Termination Date. Employee agrees that his duties will also include
assistance with transition and other matters related to the Company’s employment of a replacement Senior Vice President of Operations. Notwithstanding any such requested resignation or termination of employment prior to the Termination Date,
except as provided in Section 2(a), Employee shall continue to receive the same salary and benefits through the Termination Date as in effect immediately prior to the Effective Date. If and when disclosure of the reasons for the termination of
Employee’s employment is required, the Company and Employee agree to generally characterize Employee’s termination as a retirement. In its public filings with the U.S. Securities and Exchange Commission, to the extent permitted by
applicable 

 
law, the Company will characterize the termination of Employee’s employment as a mutually-agreed retirement to be considered a “Qualifying Termination” under the Company’s
Executive Severance Plan. 
 2. Severance Benefits upon Termination of Employment. 

(a) Termination for Cause or by Reason of Death or Voluntary Termination. If (x) Employee voluntarily terminates employment
with the Company, (y) the Company terminates Employee’s employment for Cause, or (z) Employee’s employment is terminated by reason of Employee’s death, then Employee will not be entitled to any compensation or benefits under
this Section 2 other than the sum of: 
 (i) the portion of Employee’s base salary earned through the date on which
Employee’s employment ends, to the extent not theretofore paid; and 
 (ii) any accrued paid vacation, sick leave and
other paid time-off to the extent not theretofore paid (the sum of the amounts described in clauses (i) and (ii) are hereinafter referred to as the “Accrued Obligation”). 

The Accrued Obligations will be paid to Employee in a lump sum within twenty (20) calendar days after the date on which
Employee’s employment ends. 
 (b) For Termination without Cause. In the event that Employee continues his
employment through the Termination Date or that Employee’s employment is terminated by the Company without Cause prior to the Termination Date, Employee will be entitled to receive the payments and benefits provided below, provided that the
payments and benefits in Sections 2(b)(ii), 2(b)(iii) and 2(b)(iv) (the “Severance Benefits”) are subject to the release requirements of Section 2(c) and continued compliance with Section 5: 

(i) Accrued Obligation. The Accrued Obligation, payable in a lump sum within twenty (20) days after the date on which
Employee’s employment ends. 
 (ii) Annual Bonus. Employee’s annual bonus payment for the entire fiscal year
2011 period, to be calculated in accordance with the fiscal year 2011 bonus plan at the participation level identified to Employee and payable to Employee on or before March 15, 2012. 

(iii) Severance Payments. Salary continuation payments through the first anniversary of the Termination Date, at his annual rate
of base salary in effect as of the Effective Date, payable in accordance with the Company’s normal payroll practices, but such amount shall be paid no less frequently than one installment every thirty days. The first such salary continuation
payment shall be made no earlier than the last day on which Employee may revoke his execution of the release required under Section 2(c). 
 (iv) Health Care Coverage. Employee and Employee’s eligible dependents shall be entitled to participate in the Company’s medical and dental plans in which Employee participated
immediately prior to Employee’s Termination Date for a period of twelve (12) months commencing with the calendar month in which occurs the Termination Date (the 

  
 -2-

 
“Benefit Continuation Period”); provided, however, that the Benefit Continuation Period shall cease when Employee becomes eligible for any such coverage under a plan maintained by
another employer. Employee’s continued participation in the Company’s medical and dental plans shall be on terms not less favorable than those in effect for active employees of the Company, subject to Employee making the monthly premium
payment of the amount required for such coverage during the Benefit Continuation Period by active employees of the Company. The Benefit Continuation Period shall run concurrently with (and shall count against) the Company’s obligation to
provide continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act. 
 (c) Release
Required. Employee will not be entitled to any of the Severance Benefits unless Employee timely executes, and does not subsequently revoke, a waiver and release of claims, in the form attached hereto as Exhibit
A, on or before the fourth (4th) day after the Termination Date. 
 (d) Definition of Cause. For purposes of this
Agreement, “Cause” means the occurrence of any of the following after the Effective Date: 
 (i) Employee’s
conviction of, or guilty or nolo contendere plea by Employee to, a felony or misdemeanor involving moral turpitude; 
 (ii)
Employee’s willful misconduct or negligence in the performance of duties; 
 (iii) Employee’s failure to observe
written Company policies that is dishonest or demonstrably injurious to the Company (monetarily or otherwise); 
 (iv)
Employee’s willful failure to comply with lawful and ethical directions and instructions of the Board of Directors of the Company (the “Board”), which, if curable, has not been cured within five (5) business days after written
notice from the Board; and 
 (v) Employee’s willful failure to perform duties with the Company which results in a
material adverse financial effect on the Company, unless such failure is a result of the Employee’s mental or physical incapacity, provided that such failure, if curable, has not been cured within five (5) business days after written
notice from the Board. 
 For purposes of this definition, no act or failure to act on the part of the Employee shall be
considered “willful” unless it is done, or omitted to be done, by the Employee without the reasonable, good faith belief that the Employee’s act or omission was in accordance with, or not contrary to, the duties and responsibilities
of Employee’s position. Any act, or failure to act, based upon express authority given by the Company with respect to such act or omission or based upon the advice of counsel for the Company shall be conclusively presumed to be done, or omitted
to be done, by the Employee in the best interests of the Company. The termination of Employee’s employment shall not be deemed to be for Cause unless and until there shall have been delivered to Employee a copy of a resolution duly adopted by
the affirmative vote of not less than a majority of the entire membership of the Board (not including Employee) at a meeting of the Board called and held for such purpose (after reasonable notice is provided to Employee

  
 -3-

 
and Employee is given an opportunity, together with counsel, to be heard before the Board) finding that, in the good faith opinion of the Board, Employee is guilty of the conduct described in
this definition, and specifying the particulars thereof in detail. 
 3. Incentive Awards. Any awards granted to Employee
under any long-term incentive plans maintained by the Company which remain outstanding on the Termination Date shall vest according to the terms of the applicable long-term incentive plan and award agreement; provided, however, that for purposes of
such long-term incentive plan awards, Employee shall be deemed to be continuously employed by the Company through the Termination Date unless, prior to the Termination Date, (a) Employee voluntarily terminates his employment or (b) the
Company terminates Employee’s employment for Cause. Any payments made under the applicable long-term incentive plans or award agreements are subject to the requirements of such plans and agreements, including any required covenants, such as the
Detrimental Activities. 
 4. Release. In exchange for the consideration offered to Employee under this Agreement, which
Employee acknowledges provides consideration to which Employee would not otherwise have an undisputed right to receive, Employee, on his behalf and on behalf of his heirs, devisees, legatees, executors, administrators, personal and legal
representatives, assigns and successors in interest, hereby IRREVOCABLY, UNCONDITIONALLY AND GENERALLY RELEASES, ACQUITS, AND FOREVER DISCHARGES, to the fullest extent permitted by law, the Company, its subsidiaries and each of their directors,
officers, employees, representatives, stockholders, predecessors, successors, assigns, agents, attorneys, divisions, subsidiaries and affiliates (and agents, directors, officers, employees, representatives and attorneys of such stockholders,
predecessors, successors, assigns, divisions, subsidiaries and affiliates), and all persons acting by, through, under or in concert with any of them (collectively, the “Releasees” and each a “Releasee”), or any of them, from any
and all charges, complaints, claims, damages, actions, causes of action, suits, rights, demands, grievances, costs, losses, debts, and expenses (including attorneys’ fees and costs incurred), of any nature whatsoever, known or unknown, that
Employee now has, owns, or holds, or claims to have, own, or hold, or which Employee at any time heretofore had, owned, or held, or claimed to have, own, or hold from the beginning of time to the date that Employee signs this Agreement, including,
but not limited to, those claims arising out of or relating to (i) any agreement, commitment, contract, mortgage, deed of trust, bond, indenture, lease, license, note, franchise, certificate, option, warrant, right or other instrument,
document, obligation or arrangement, whether written or oral, or any other relationship, involving Employee and/or any Releasee, (ii) breach of any express or implied contract, breach of implied covenant of good faith and fair dealing,
misrepresentation, interference with contractual or business relations, personal injury, slander, libel, assault, battery, negligence, negligent or intentional infliction of emotional distress or mental suffering, false imprisonment, wrongful
termination, wrongful demotion, wrongful failure to promote, wrongful deprivation of a career opportunity, discrimination (including disparate treatment and disparate impact), hostile work environment, sexual harassment, retaliation, any request to
submit to a drug or polygraph test, and/or whistleblowing, whether said claim(s) are brought pursuant to laws of the United States or any other jurisdiction applicable to Employee’s actions on behalf of the Company or any of its subsidiaries or
affiliates, and (iii) any other matter; provided, however, that nothing contained herein shall operate to release any obligations of the Company or its successors or assigns arising under this Agreement. Notwithstanding anything in this
Agreement to the contrary, it is the express intention of Employee and the Company that this Agreement 

  
 -4-

 
shall not act as a release or waiver of (1) any rights of defense or indemnification which would be otherwise afforded to Employee under the Certificate of Incorporation, By-Laws or similar
governing documents of the Company or its subsidiaries, (2) any rights of defense or indemnification which would be otherwise afforded to Employee under any director or officer liability or other insurance policy maintained by the Company or
its subsidiaries; (3) any rights of Employee to benefits accrued under any Company employee benefit plan, (4) any rights under this Agreement, and (5) such rights or claims as may arise after the date of this Agreement. 

5. Covenants. The Severance Benefits are subject to Employee’s continued compliance with the covenants set forth on
Exhibit B. The Company’s obligations and Employee’s right, if any, to the Severance Benefits shall cease in the event of a material breach by Employee of any provision of Exhibit B (and, in only those cases where such
material breach is curable, the failure to cure such material breach within 10 business days after written notice to Employee, which notice details, with reasonable specificity, such material breach). Any such cessation of payment shall not reduce
any monetary damages that may be available to the Company as a result of such breach. 
 6. Memberships and Associations.
Employee shall, effective as of the Termination Date or any earlier date as requested by the Company, cause to be transferred to the Company, or to the Company’s designee, all memberships sponsored by the Company in community, environmental or
similar boards and associations held by Employee, to the extent such transfer is permitted by such boards or associations. 
 7.
Miscellaneous. 
 (a) Governing Law. This Agreement shall be governed by and construed in accordance with the
laws of the State of Texas without regard to conflict of law principles. 
 (b) Resolutions of Disputes. 

(i) Arbitration. Any and all controversies arising out of or relating to the validity, interpretation, enforceability or
performance of the Agreement will be solely and finally settled by means of binding arbitration in Houston, Texas. The arbitration shall be conducted in accordance with the applicable employment dispute resolution rules of the American Arbitration
Association. The arbitration will be final, conclusive, and binding upon the parties. All arbitrator’s fees and related expenses shall be divided equally between the parties. 

(ii) Legal Fees. The arbitrator shall award Employee attorneys’ fees and expenses if Employee prevails on at least one
material issue in dispute, including the attorneys’ fees and expenses Employee incurs in connection with any appeal or the enforcement of any award. Any award of attorneys’ fees and expenses to Employee shall be paid by the Company within
sixty (60) days following the award of such fees and costs by the arbitrator (or, if later, when such fees and expenses are incurred). 
 (c) Entire Agreement. Except as provided in Section 3, this Agreement contains the entire agreement and understanding between the parties hereto and

  
 -5-

 
supersedes any prior or contemporaneous written or oral agreements, representations and warranties between them respecting the subject matter hereof. For purposes of clarity, the benefits
described in Sections 2(b)(i), 2(b)(iii) and 2(b)(iv) are the benefits that would be provided to Employee upon a “Qualifying Termination” under the Company’s Executive Severance Plan, and Employee has no right to duplicate benefits
under the Company’s Executive Severance Plan and this Agreement. The amounts payable pursuant to Section 2(b)(iii) hereof shall be reduced by any long-term disability payments Employee receives from the Company. 

(d) Amendment. This Agreement may be amended only by a writing signed by Employee and by a duly authorized representative of the
Company. 
 (e) Tax Withholding. The Company may withhold from any benefits payable under this Agreement all federal,
state, city or other taxes that will be required pursuant to any law or governmental regulation or ruling. 
 (f)
Assignability. The Company shall have the right to assign this Agreement and its rights hereunder, in whole or in part. Employee shall not have any right to pledge, hypothecate, anticipate, or in any way create a lien upon any amounts
provided under this Agreement, and no payments or benefits due hereunder shall be assignable in anticipation of payment either by voluntary or involuntary acts or by operation of law. 

(g) Severability. If any term, provision, covenant or condition of this Agreement, or the application thereof to any person,
place or circumstance, shall be held to be invalid, unenforceable or void, the remainder of this Agreement and such term, provision, covenant or condition as applied to other persons, places and circumstances shall remain in full force and effect.

 (h) Construction. The headings and captions of this Agreement are provided for convenience only and are intended to
have no effect in construing or interpreting this Agreement. The language in all parts of this Agreement shall be in all cases construed according to its fair meaning and not strictly for or against the Company or Employee. 

(i) Counterparts. This Agreement may be executed in two or more counterparts, each of which will be deemed an original, and all
of which together will constitute one document. 
 (j) Rights Cumulative. The rights and remedies provided by this
Agreement are cumulative, and the exercise of any right or remedy by either party hereto (or by its successor), whether pursuant to this Agreement, to any other agreement, or to law, shall not preclude or waive its right to exercise any or all other
rights and remedies. 
 (k) Nonwaiver. No failure or neglect of either party hereto in any instance to exercise any
right, power or privilege hereunder or under law shall constitute a waiver of any other right, power or privilege or of the same right, power or privilege in any other instance. All waivers by either party hereto must be contained in a written
instrument signed by the party to be charged and, in the case of the Company, by an officer of the Company (other than Employee) or other person duly authorized by the Company. 

  
 -6-

 (l) Notices. Any notice, request, consent or approval required or permitted to be
given under this Agreement or pursuant to law shall be sufficient if in writing, and if and when sent by certified or registered mail, with postage prepaid, to Employee’s residence (as noted in the Company’s records), or to the
Company’s principal office, as the case may be. 
 (m) Section 409A. 

(i) It is intended that the payments and benefits provided under the Agreement shall be exempt from the application of the requirements
of Section 409A of the Internal Revenue Code of 1986 (“Section 409A”). This Agreement shall be construed, administered and governed in a manner that effects such intent, and the Company shall not take any action that would be
inconsistent with such intent. Specifically, any taxable benefits or payments provided under this Agreement are intended to be separate payments that qualify for the “short-term deferral” exception to Section 409A. 

(ii) With regard to any provision herein that provides for reimbursement of costs and expenses of in-kind benefits, except as permitted
by Section 409A: (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit; (ii) the amount of expenses eligible for reimbursement, or in-kind benefits provided, during any
calendar year shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other calendar year; and (iii) such payments shall be made on or before the last day of Employee’s calendar year following
the calendar year in which the expense occurred, or such earlier date as required hereunder. 
 (iii) The payments and benefits
provided under this Agreement may not be deferred, accelerated, extended, paid out or modified in a manner that would result in the imposition of an additional tax under Section 409A upon Employee. Although the Company will use its best efforts
to avoid the imposition of taxation, interest and penalties under Section 409A, the tax treatment of the benefits provided under this Agreement is not warranted or guaranteed. Neither the Company nor its directors, officers, employees or
advisers shall be held liable for any taxes, interest, penalties or other monetary amounts owed by Employee (or any other individual claiming a benefit through Employee) as a result of this Agreement. 

IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the date set forth below. 

 

							
	TPC GROUP INC.	  		  	EMPLOYEE
				
	By:	  	/s/  Michael T. McDonnell        	  		  	/s/  Luis Batiz        
	Name:	  	Michael T. McDonnell	  		  	Name: Luis Batiz
	Title:	  	President and Chief Executive Officer	  		  	Date: August 29, 2011
	Date:	  	August 29, 2011	  		  	

  
 -7-

 EXHIBIT A 
 Dated: January     , 2012 
 WAIVER AND
RELEASE 
 Pursuant to the terms of my Separation Agreement with TPC Group Inc. effective August 29, 2011 (the
“Agreement”) and in exchange for Severance Benefits (as defined in the Agreement), I hereby waive all claims against and release (i) TPC Group Inc. and TPC Group LLC and their directors, officers, employees, agents, insurers,
predecessors, successors and assigns (collectively referred to as the “Company”), (ii) all of the affiliates (including all parent companies and all wholly or partially owned subsidiaries) of the Company and their
directors, officers, employees, agents, insurers, predecessors, successors and assigns (collectively referred to as the “Affiliates”), and (iii) the Company’s and its Affiliates’ employee benefit plans and the
fiduciaries and agents of said plans (collectively referred to as the “Benefit Plans” ) from any and all claims, demands, actions, liabilities and damages arising out of or relating in any way to my employment with or
separation from employment with the Company and its Affiliates other than payments and benefits due pursuant to Section 1 of the Agreement and rights and benefits I am entitled to under the Benefit Plans. (The Company, its Affiliates and the
Benefit Plans are sometimes hereinafter collectively referred to as the “Released Parties.”) 
 I understand
that signing this Waiver and Release is an important legal act. I acknowledge that I have been advised in writing to consult an attorney before signing this Waiver and Release. I understand that, in order to be eligible for the Severance Benefits, I
must sign (and return to the Company) this Waiver and Release before I will receive the Severance Benefits. I acknowledge that I have been given at least twenty-one (21) days to consider whether to accept the Severance Benefits and whether to
execute this Waiver and Release. 
 In exchange for the payment to me of the Severance Benefits, (1) I agree not to sue
in any local, state and/or federal court regarding or relating in any way to my employment with or separation from employment with the Company and its Affiliates, and (2) I knowingly and voluntarily waive all claims and release the Released
Parties from any and all claims, demands, actions, liabilities, and damages, whether known or unknown, arising out of or relating in any way to my employment with or separation from employment with the Company and its Affiliates, except to the
extent that my rights are vested under the terms of any employee benefit plans sponsored by the Company and its Affiliates and except with respect to such rights or claims as may arise after the date this Waiver and Release is executed. This Waiver
and Release includes, but is not limited to, claims and causes of action under: Title VII of the Civil Rights Act of 1964, as amended; the Age Discrimination in Employment Act of 1967, as amended, including the Older Workers Benefit Protection Act
of 1990; the Civil Rights Act of 1866, as amended; the Civil Rights Act of 1991; the Americans with Disabilities Act of 1990; the Workers Adjustment and Retraining Notification Act of 1988; the Pregnancy Discrimination Act of 1978; Employee
Retirement Income Security Act of 1974, as amended; the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended; the Family and Medical Leave Act of 1993; the Fair Labor Standards Act; the Occupational Safety and Health Act; the Texas
Labor Code §21.001 et. seq.; the Texas Labor Code; claims in connection with workers’ compensation, retaliation or “whistle blower” statutes; and/or contract, tort, defamation, slander, wrongful

  
 -8-

 
termination or any other state or federal regulatory, statutory or common law. Further, I expressly represent that no promise or agreement which is not expressed in this Waiver and Release has
been made to me in executing this Waiver and Release, and that I am relying on my own judgment in executing this Waiver and Release, and that I am not relying on any statement or representation of the Company or its Affiliates or any of their
agents. I agree that this Waiver and Release is valid, fair, adequate and reasonable, is with my full knowledge and consent, was not procured through fraud, duress or mistake and has not had the effect of misleading, misinforming or failing to
inform me. I acknowledge and agree that the Company will withhold minimum amount of any taxes required by federal or state law from the Severance Benefits otherwise payable to me. 

Notwithstanding anything to the contrary in this Waiver and Release, I do not release and expressly retain, and do not covenant not to
sue with respect to, any of the following (the “Retained Rights”): (a) any rights of defense or indemnification which would be otherwise afforded to me under the Certificate of Incorporation, By-Laws or similar governing documents of
the Company of its subsidiaries; (b) any rights of defense or indemnification which would be otherwise afforded to me under any director or officer liability or other insurance policy maintained by the Company or its subsidiaries; (c) any
of my rights to benefits accrued under any Company employee benefit plan; (d) any rights under the Agreement; and (e) any claims for unemployment compensation or any other claims or rights which, by law, cannot be waived, including the
right to file an administrative charge or participate in an administrative investigation or proceeding; provided, however, that I disclaim and waive any right to share or participate in any monetary award resulting from the prosecution of such
charge or investigation or proceeding. 
 I acknowledge that payment of the Severance Benefits is not an admission by any one or
more of the Released Parties that they engaged in any wrongful or unlawful act or that they violated any federal or state law or regulation. I acknowledge that neither the Company nor its Affiliates have promised me continued employment or
represented to me that I will be rehired in the future. I acknowledge that my employer and I contemplate an unequivocal, complete and final dissolution of my employment relationship. I acknowledge that this Waiver and Release does not create any
right on my part to be rehired by the Company or its Affiliates, and I hereby waive any right to future employment by the Company or its Affiliates. 
 I understand that for a period of 7 calendar days following the date that I sign this Waiver and Release, I may revoke my acceptance of this Waiver and Release, provided that my written statement of
revocation is received on or before that seventh day by the Company’s General Counsel at 5151 San Felipe, Suite 800, Houston, Texas 77056, facsimile number (832) 415-0456, in which case the Waiver and Release will not become effective. If
I timely revoke my acceptance of this Waiver and Release, the Company shall have no obligation to provide the Severance Benefits to me. I understand that failure to revoke my acceptance of the offer within 7 calendar days from the date I sign this
Waiver and Release will result in this Waiver and Release being permanent and irrevocable. 
 Should any of the provisions set
forth in this Waiver and Release be determined to be invalid by a court, agency or other tribunal of competent jurisdiction, it is agreed that such determination shall not affect the enforceability of other provisions of this Waiver and Release. I

  
 -9-

 
acknowledge that this Waiver and Release sets forth the entire understanding and agreement between me and the Company and its Affiliates concerning the subject matter of this Waiver and Release
and supersedes any prior or contemporaneous oral and/or written agreements or representations, if any, between me and the Company or its Affiliates. 
 I acknowledge that I have read this Waiver and Release, have had an opportunity to ask questions and have it explained to me and that I understand that this Waiver and Release will have the effect of
knowingly and voluntarily waiving any action I might pursue, including breach of contract, personal injury, retaliation, discrimination on the basis of race, age, sex, national origin, or disability and any other claims arising prior to the date of
this Waiver and Release. By execution of this document, I do not waive or release or otherwise relinquish either the Retained Rights or any legal rights I may have which are attributable to or arise out of acts, omissions, or events of the Company
or its Affiliates which occur after the date of the execution of this Waiver and Release. 

					
			
	 	 		 	 
	 Employee
	 		 	Company’s Representative
			
	 	 		 	 
	 Signature
	 		 	Company’s Execution Date
			
	 	 		 	
	 Signature Date
	 		 	

  
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 EXHIBIT B 
 COVENANTS 
 1. Confidential Information. 

(a) For purposes of this Exhibit B, “Confidential Information” means ideas, concepts, information and material that constitute
trade secrets and/or proprietary and confidential information of the Company and any company or other entity controlled by, controlling or under common control with the Company (its “Affiliates”). Confidential Information includes, but is
not limited to, information and knowledge pertaining to products and services offered, ideas, plans, manufacturing, marketing, pricing, distribution and sales methods and systems, sales and profit figures, customer and client lists, and
relationships between the Company or its subsidiaries and their respective affiliates, dealers, distributors, wholesalers, customers, clients, suppliers and other who have business dealings with the Company or any of its subsidiaries. 

(b) Confidential Information is the sole and exclusive property of the Company. Employee must not, either during or after the term of
this Agreement, directly or indirectly disclose any Confidential Information to any third party without the written permission of the Board, except as required by his employment with the Company, unless such information is in the public domain for
reasons other than Employee’s conduct, or except as may be required by law (provided that Employee shall give the Company notice of any disclosure required by law so that the Company shall have a reasonable opportunity to attempt to preclude
such disclosure). Employee shall not use Confidential Information to his own advantage or the advantage of parties other than the Company. Employee shall take all steps necessary to protect the confidentiality of all Confidential Information and to
inform the Company immediately of any attempted or actual disclosure of Confidential Information to any third party. Employee agrees that, upon request of the Company or termination of employment, whichever is first, he shall turn over to the
Company all documents, memoranda, notes, plans, records or material in his possession or control that contain or are derived from Confidential Information. 
 (c) If at any time Employee has any material information which belongs to any former employer that Employee is not entitled to have or use for the benefit of the Company and its Affiliates, Employee shall
promptly return any such materials to Employee’s former employer or obtain any necessary consents. Employee is not permitted to use or refer to any such materials in the performance of Employee’s duties. 

2. Non-Competition. Beginning on the date of this Agreement and continuing through the first anniversary of the Termination Date
(the “Restricted Period”), Employee shall not directly or indirectly own any interest in, manage, control, participate in, be employed by, consult with, render services for, or in any manner engage in any Competing Business within any
geographical area in which the Company or any of its controlled affiliates engage or have active plans at the Termination Date to engage in such businesses. The restriction is without specific geographic limitation inasmuch as the Company and its
Affiliates 

  
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conduct business on a nationwide and international basis, that its sales and marketing prospects are for continued expansion both nationally and internationally, that access to the Company’s
Confidential Information would provide any national or international competitor with an unfair competitive advantage, and that, therefore, the restrictions set forth in this Section are reasonable and properly required for the adequate protection of
the legitimate interests of the Company. Nothing herein shall prohibit Employee from owning beneficially not more than 2% of any class of outstanding equity securities or other comparable interests of any issuer that is publicly traded, so long as
Employee has no active participation in the business of such issuer. For purposes hereof, the term “Competing Business” means any business that is engaged in the production or sale of products that compete with the products produced,
distributed or sold by the Company or its controlled affiliates (or are in the process of being actively developed by such entities) as of the Termination Date. This restriction shall not prevent Employee from working for a subsidiary, division,
venture or other business or functional service unit (collectively a “Unit”) of a Competing Business so long as (i) such Unit is not itself a Competing Business, (ii) Employee does not manage or participate in business activities
or projects of any Unit that is a Competing Business, and (iii) Employee otherwise strictly complies with the restrictive covenants contained in this Exhibit. 
 3. Nonsolicitation. 
 (a) During the Restricted Period Employee must not,
as an individual, employee, consultant, agent, owner, partner, director or stockholder, directly or indirectly solicit, call on or accept any business from any Customer of the Company or its subsidiaries. The term “Customer” means all
persons, firms or corporations to whom the Company or its subsidiaries sold products at any time during the one year period immediately preceding when Employee’s employment with the Company ceased, notwithstanding that some or all of such
persons, firms or corporations may have been induced to give business to the Company or its subsidiaries by Employee. 
 (b)
During the Restricted Period Employee must not take any action to divert from the Company or its subsidiaries any opportunity in the scope of any present or contemplated future business of the Company or its subsidiaries that arose while he was
employed by the Company. 
 (c) During the Restricted Period Employee must not directly or indirectly solicit, hire, employ or
engage any employee or any former employee of the Company or its Affiliates whose employment with the Company or its Affiliates ceased less than one year before the date of such solicitation, enticement, hiring or engagement. 

4. Scope of Restrictions. In the event any provision relating to the time period or scope of the restrictions in this Exhibit B
shall be declared by a court of competent jurisdiction to exceed the maximum time period or scope such court deems reasonable and enforceable, such time period or scope shall be deemed amended and reformed to the minimum degree necessary to be
enforceable. 

  
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