Document:

EX-4.5

 Exhibit 4.5 

 
  
 SILVERCREST ASSET MANAGEMENT GROUP INC. 
 CLASS B STOCKHOLDERS’
AGREEMENT 
 Dated as of [            ], 2013 

 
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
			
	 ARTICLE 1
	 	 VOTING OF CLASS B SHARES
	  	 	1	  
			
	 1.1
	 	 Preliminary Vote of Executive Committee
	  	 	1	  
			
	 1.2
	 	 Voting by Class B Stockholders
	  	 	1	  
			
	 ARTICLE 2
	 	 TRANSFER OF CLASS B SHARES
	  	 	2	  
			
	 2.1
	 	 Transfers Generally
	  	 	2	  
			
	 2.2
	 	 Compliance with Law and Regulations
	  	 	2	  
			
	 2.3
	 	 Legend on Certificates: Entry of Stop Transfer Orders
	  	 	3	  
			
	 2.4
	 	 Certificates to be Held by Company
	  	 	3	  
			
	 2.5
	 	 Transfers in Violation of Agreement Void
	  	 	3	  
			
	 ARTICLE 3
	 	 REPRESENTATIONS AND WARRANTIES
	  	 	4	  
			
	 3.1
	 	 Representations and Warranties of the Class B Stockholders
	  	 	4	  
			
	 3.2
	 	 Representations and Warranties of the Company
	  	 	4	  
			
	 ARTICLE 4
	 	 DEFINITIONS
	  	 	5	  
			
	 ARTICLE 5
	 	 MISCELLANEOUS
	  	 	6	  
			
	 5.1
	 	 Notices
	  	 	6	  
			
	 5.2
	 	 Term of the Agreement
	  	 	7	  
			
	 5.3
	 	 Amendments; Waivers
	  	 	7	  
			
	 5.4
	 	 Adjustment Upon Changes in Capitalization
	  	 	7	  
			
	 5.5
	 	 Disinterested Committee Members to Make Determinations
	  	 	8	  
			
	 5.6
	 	 Severability
	  	 	8	  
			
	 5.7
	 	 Representatives, Successors and Assigns
	  	 	8	  
			
	 5.8
	 	 Governing Law
	  	 	8	  
			
	 5.9
	 	 Specific Performance
	  	 	8	  
			
	 5.10
	 	 Submission to Jurisdiction; Waiver of Immunity
	  	 	9	  
			
	 5.11
	 	 Waiver of Jury Trial
	  	 	9	  
			
	 5.12
	 	 Further Assurances
	  	 	9	  
			
	 5.13
	 	 Execution in Counterparts
	  	 	9	  
			
	 5.14
	 	 Entire Agreement
	  	 	9	  
			
	 5.15
	 	 Construction
	  	 	9	  
			
	 5.16
	 	 Interpretation
	  	 	10	  

 Annex A — Additional Party Signature Page 

  
 -i-

 CLASS B STOCKHOLDERS’ AGREEMENT 

This CLASS B STOCKHOLDERS’ AGREEMENT (this “Agreement”) is dated as of
[            ], 2013, by and among Silvercrest Asset Management Group Inc., a Delaware corporation (the “Company”), and Class B Stockholders signatory hereto or to the
Additional Party Signature Page in the form attached hereto as Annex A. Capitalized terms used herein have their respective meanings set forth in Article IV of this Agreement. 

WITNESSETH 
 WHEREAS, the Class B Stockholders Own all the outstanding shares of Class B common stock, par value $0.01 per share, of the Company (the “Class B Shares”); 

WHEREAS, the Company is the general partner of Silvercrest L.P., a Delaware limited partnership, and Owns all the outstanding
Class A Units of Silvercrest L.P.; 
 WHEREAS, the Class B Stockholders own, in the aggregate, all the outstanding
Class B Units of Silvercrest L.P.; 
 WHEREAS, the Company and the Class B Stockholders are parties to the Second Amended and
Restated Limited Partnership Agreement of Silvercrest L.P., dated November 13, 2012 (the “Silvercrest LPA”); and 
 WHEREAS, the Company and the Class B Stockholders desire to make provisions with respect to the voting and Transfer of the Class B Shares and various other affairs of the Company. 

NOW THEREFORE, in consideration of the premises and of the mutual agreements, covenants and provisions herein contained and for good and
valuable consideration, the receipt of which is hereby acknowledged, the parties hereto agree as follows: 
 ARTICLE 1

 VOTING OF CLASS B SHARES 
 1.1 Preliminary Vote of Executive Committee. Before any vote of the stockholders of the Company at a meeting called with respect to any corporate action, a vote (the “Preliminary
Vote”) shall be taken of the Executive Committee, upon all such matters upon which such stockholder vote or other action is proposed to be taken. The Preliminary Vote of each member of the Executive Committee shall be weighted based on the
number of Class B Units owned by the Executive Committee member relative to the number of Class B Units owned by all members of the Executive Committee. 
 1.2 Voting by Class B Stockholders. 
 (a) At any meeting of the
stockholders of the Company called to vote with respect to any corporate action, each Class B Stockholder agrees to vote with respect to all the Class B Shares and, if applicable, Class A Shares then Owned by such Class B Stockholder on all
such matters in which action is proposed to be taken in accordance with the Preliminary Vote of the Executive Committee. 

  
 1 

 (b) For purposes of effecting any vote pursuant to this Section 1.2, during the
term of this Agreement, each Class B Stockholder does hereby irrevocably make, constitute and appoint the members of the Executive Committee, as specified in the Silvercrest LPA, with full power of substitution, as his, her or its true
attorney-in-fact and agent, for and in his, her or its name, place and stead, to act as his, her or its proxy to the maximum extent and for the maximum term permitted by law to (i) vote the Class B Shares and, if applicable, Class A Shares
then Owned by such Class B Stockholder at any meeting of stockholders of the Company in accordance with Section 1.2(a) and (ii) vote the Class B Shares and, if applicable, Class A Shares then Owned by such Class B Stockholder
in such proxy holder’s discretion upon any other business which is not presented in the notice of such meetings but properly comes before such meetings (for example, adjournment of such meetings), giving and granting to said attorney full power
and authority to do and perform each and every act and thing whether necessary or desirable to be done in and about the premises, as fully as he, she or it might or could do if personally present, with full power of substitution, appointment and
revocation. The foregoing power of attorney and proxy are coupled with an interest and shall not be revocable or revoked by such Class B Stockholder and shall be binding upon such Class B Stockholder and his, her or its successors and assigns.

 ARTICLE 2 
 TRANSFER OF CLASS B SHARES 
 2.1 Transfers Generally. Each
Class B Stockholder agrees that, in addition to any restrictions imposed by the Charter, the Silvercrest LPA and applicable law: 
 (a) such Class B Stockholder shall not Transfer any Class B Shares to any Person unless such Class B Stockholder concurrently Transfers an equal number of Class B Units to such Person; and 

(b) in the event that such Class B Stockholder Transfers any Class B Units to any Person, such Class B Stockholder shall concurrently
Transfer an equal number of Class B Shares to such Person. 
 2.2 Compliance with Law and Regulations. Each Class
B Stockholder agrees that any Transfer of Class B Shares by such Class B Stockholder shall be in compliance with federal and state securities laws, and any applicable law, rule or regulation of the Commission or any other governmental agency
having jurisdiction. 

  
 2 

 2.3 Legend on Certificates: Entry of Stop Transfer Orders. 

(a) Each Class B Stockholder agrees that each outstanding certificate representing any Class B Shares and, if applicable, Class A
Shares that are subject to this Agreement shall bear an endorsement noted conspicuously on each such certificate reading substantially as follows: 
 THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO (1) THE RESTRICTIONS ON TRANSFER SET FORTH IN THE SECOND AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF SILVERCREST ASSET
MANAGEMENT GROUP INC., DATED [            ], 2013, AS MAY BE AMENDED FROM TIME TO TIME, (2) THE TERMS OF THE CLASS B STOCKHOLDERS’ AGREEMENT, DATED
[            ], 2013, OF SILVERCREST ASSET MANAGEMENT GROUP INC. AND (3) THE EXCHANGE AGREEMENT, DATED [            ], 2013.

 THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED OR THE APPLICABLE
SECURITIES ACT OF ANY STATE BUT HAVE BEEN ISSUED IN RELIANCE UPON EXEMPTIONS FROM REGISTRATION CONTAINED IN SAID ACTS. NO SALE, OFFER TO SELL OR OTHER TRANSFER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY BE MADE UNLESS A REGISTRATION
STATEMENT UNDER SAID ACTS IS IN EFFECT WITH RESPECT TO THE SECURITIES, OR AN EXEMPTION FROM THE REGISTRATION PROVISIONS OF SUCH ACTS IS THEN IN FACT APPLICABLE. 
 (b) Each Class B Stockholder agrees to the entry of stop transfer orders against any attempted transfer of legended certificates representing its Class B Shares and Class A Shares that is not in
compliance with this Agreement. 
 2.4 Certificates to be Held by Company. Each Class B Stockholder agrees that
the certificates representing such Class B Stockholder’s Class B Shares and, if applicable, Class A Shares shall be issued in the name of a nominee holder to be designated by the Company and shall be held in custody by the Company at its
principal office. Subject to Section 2.1, the Company shall, upon the request of any such Class B Stockholder or the estate of any such Class B Stockholder, as the case may be, in writing addressed to the Secretary of the Company or any
officer designated by the Secretary (which request shall include a representation by such Class B Stockholder or estate thereof that such Class B Stockholder is then permitted to Transfer a specified number of Class B Shares under the provisions of
this Agreement), promptly release from custody the certificates representing such specified number of Class B Stockholder’s Class B Shares, which are then intended and permitted to be Transferred under the provisions of this Agreement.

 2.5 Transfers in Violation of Agreement Void. Any attempted Transfer of Class B Shares not made in accordance
with the provisions of this Agreement shall be void, and the Company shall not register, or cause or permit the registry, of Class B Shares Transferred in violation of this Agreement. 

  
 3 

 ARTICLE 3 

REPRESENTATIONS AND WARRANTIES 
 3.1 Representations and Warranties of the Class B Stockholders. Each Class B Stockholder severally represents and warrants to the Company and to each other Class B Stockholder that
(a) in the case of a Class B Stockholder who is a natural person, such Class B Stockholder is of sound mind and has full legal capacity to enter into, execute, deliver and perform this Agreement; (b) in the case of a Class B Stockholder
who is not a natural person, such Class B Stockholder is duly formed or organized, validly existing and in good standing under the laws of the jurisdiction in which it was formed or organized and is duly authorized to enter into, execute, deliver
and perform this Agreement; (c) this Agreement has been duly executed by such Class B Stockholder or his, her or its attorney-in-fact on behalf of such Class B Stockholder and is a valid and binding agreement of such Class B Stockholder,
enforceable against such Class B Stockholder in accordance with its terms; (d) the execution, delivery and performance by such Class B Stockholder of this Agreement does not violate or conflict with or result in a breach of or constitute (or
with notice or lapse of time or both constitute) a default under any agreement to which such Class B Stockholder is a party and in the case of a Class B Stockholder that is not a natural person, its charter, bylaws or other organizational documents;
and (e) such Class B Stockholder has good and marketable title to the Class B Shares and, if applicable, Class A Shares Owned by such Class B Stockholder and Owns such Class B Shares and Class A Shares free and clear of any pledge,
lien, security interest, charge, claim, equity or encumbrance of any kind, other than pursuant to this Agreement. 
 3.2
Representations and Warranties of the Company. The Company represents and warrants to the Class B Stockholders that (a) the Company is a corporation duly incorporated, validly existing and in good standing under the laws of the
State of Delaware; (b) the Company is duly authorized to enter into, execute, deliver and perform this Agreement; (c) this Agreement has been duly executed and delivered by the Company and is a valid and binding agreement of the Company,
enforceable against the Company in accordance with its terms; and (d) the execution, delivery and performance by the Company of this Agreement does not violate or conflict with or result in a breach by the Company of or constitute (or with
notice or lapse of time or both constitute) a default by the Company under its Charter or By-Laws, any existing applicable law, rule, regulation, judgment, order, or decree of any government, governmental instrumentality or court, domestic or
foreign, having jurisdiction over the Company or its property including the requirements of Nasdaq, or any agreement or instrument to which the Company is a party or by which the Company or its property may be bound. 

  
 4 

 ARTICLE 4 

DEFINITIONS 
 For purposes of this Agreement, the following terms shall have the following meanings: 
 “Agreement” has the meaning set forth in the preamble to this Agreement. 
 “Business Day” means a day on which the principal national securities exchange on which the Class A Shares are listed or admitted to trading is open for the transaction of business
or, if the Class A Shares are not listed or admitted to trading on any national securities exchange, a Monday, Tuesday, Wednesday, Thursday or Friday on which banking institutions in the Borough of Manhattan, City and State of New York are not
authorized or obligated by law or executive order to close. 
 “By-Laws” means the Amended and Restated Bylaws
of Silvercrest Asset Management Group Inc., as amended from time to time after the date hereof. 
 “Charter”
means the Amended and Restated Certificate of Incorporation of the Company, in effect on the date hereof and as may be amended from time to time in the future. 
 “Class A Shares” means share of Class A common stock, par value $0.01 per share, of the Company. 
 “Class A Units” has the meaning set forth in the Silvercrest LPA. 

“Class B Shares” has the meaning set forth in the recitals of this Agreement. 

“Class B Stockholder” means a holder of outstanding Class B Shares, as set forth on the books and records of the
Company from time to time. 
 “Class B Units” has the meaning set forth in the Silvercrest LPA.

 “Commission” means the Securities and Exchange Commission of the United States. 

“Company” has the meaning set forth in the preamble to this Agreement and any successors thereof, whether by operation
of law or otherwise. 
 “Company Group” means the Company and its Subsidiaries. 

“Executive Committee” means the Executive Committee defined in the Silvercrest LPA. 

“Nasdaq” means The NASDAQ Stock Market. 
 “Own” means to own of record or beneficially, whether directly, through a nominee designated by the Company pursuant to Section 2.4 or through any other Person. 

“Person” means any natural person or any firm, partnership, limited liability partnership, association, corporation,
limited liability company, trust, business trust, governmental authority or other entity. 
 “Preliminary Vote”
has the meaning set forth in Section 1.1. 
 “Silvercrest LPA” has the meaning set forth in the
recitals of this Agreement. 

  
 5 

 “Subsidiary” means a corporation, limited liability company, limited
partnership or other entity of which the Company, directly or indirectly, has the power, whether through the ownership of voting securities, equity interests, contract or otherwise, (i) to elect at least a majority of the members of such
entity’s board of directors or other governing body or (ii) in the absence of a governing body, to control the business affairs of such entity. 
 “Transfer” means, with respect to any Class B Shares, directly or indirectly, (i) to sell, assign, transfer, pledge (including in margin transactions), convey, distribute, mortgage,
encumber, hypothecate or otherwise dispose, whether by gift, for consideration or for no consideration and (ii) to grant any right to vote, whether by proxy, voting agreement, voting trust or otherwise. 

ARTICLE 5 
 MISCELLANEOUS 
 5.1 Notices. All notices, requests, consents
and other communications hereunder to any party shall be deemed to be sufficient if contained in a written instrument delivered in person or sent by facsimile (provided a copy is thereafter promptly delivered as provided in this Section 3.3) or
nationally recognized overnight courier, addressed to such party at the address or facsimile number set forth below or such other address or facsimile number as may hereafter be designated in writing by such party to the other parties: 

(a) if to the Company, to: 
 Silvercrest Asset Management Group Inc. 
 1330 Avenue of the Americas 

38th Floor 
 New York, NY 10019 
 (T) (212) 649-0600 

(F) (212) 649-0606 
 Attention: General Counsel 
 with a copy to: 

Bingham McCutchen LLP 
 399 Park Avenue 
 New York, New York 10022 

(T) (212) 705-7000 
 (F) (212) 752-5378 
 Attention: Floyd I. Wittlin, Esq. 

(b) if to any of the Class B Stockholders, to the address and facsimile number set forth in the records of the Company. 

  
 6 

 (c) All such notices, requests, demands, waivers and other communications shall be deemed to
have been given and received (i) if by personal delivery or telecopy, on the day of such delivery, (ii) if by first-class, registered or certified mail, on the fifth Business Day after the mailing thereof or (iii) if by reputable
overnight delivery service, on the day delivered. 
 5.2 Term of the Agreement. 

(a) This Agreement shall become effective on the date hereof and shall terminate on the earliest of the first date on which
(i) there is no Class B Stockholder remaining; (ii) G. Moffett Cochran Owns less than 50% of the Class B Shares that he Owned immediately following the initial public offering of the Company, but after giving effect to the
purchase of Class B Shares by the Company in connection with the purchase of Class B Units Owned by G. Moffett Cochran with proceeds from the initial public offering; (iii) G Moffett Cochran ceases to be the Chief Executive
Officer of the Company; or (iv) the Executive Committee and at least 75% of the Class B Stockholders agree to terminate this Agreement. Unless this Agreement is theretofore terminated pursuant to this Section 5.2(a), all Class
B Stockholders shall be bound by its terms. 
 (b) A Class B Stockholder shall cease to be a party to this Agreement upon
(i) the Transfer of all the Class B Shares Owned (both vested and unvested, and Class A Shares (both vested and unvested) owned by such Class B Stockholder to another Person in accordance with the terms of this Agreement or (ii) upon
the termination of employment of the Class B Stockholder with the Company Group. 
 5.3 Amendments; Waivers.

 (a) This Agreement may be amended or modified, and any provision in this Agreement may be waived, with the consent of the
Company and the Class B Stockholders that Own, in aggregate, a majority of the Class B Shares Owned by Class B Stockholders who are then bound by the terms of this Agreement (other than an amendment that, in the good faith judgment of the Executive
Committee, is intended to cure any ambiguity or correct or supplement any provisions of this Agreement that may be incomplete or inconsistent with any other provision contained herein, which amendment may be made by the Company); provided,
that, without the consent of any Person, a Person who becomes a Class B Stockholder after the date hereof shall execute and deliver an Additional Party Signature Page to this Agreement in the form attached hereto as Annex A to become a party
to this Agreement. 
 (b) The failure of any party at any time or times to require performance of any provision of this
Agreement shall in no manner affect the rights at a later time to enforce the same. No waiver by any party of the breach of any term contained in this Agreement, whether by conduct or otherwise, in any one or more instances, shall be deemed to be or
construed as a further or continuing waiver of any such breach or the breach of any other term of this Agreement. 
 5.4
Adjustment Upon Changes in Capitalization. In the event of any change in the outstanding Class B Shares of the Company by reason of stock dividends, split-ups, recapitalizations, combinations, exchanges of shares and the like, the term
“Class B Shares” shall refer to and include the securities received or resulting therefrom and the terms and provisions of this Agreement shall be appropriately adjusted so that each Class B Stockholder will thereafter continue to have and
be subject to, to the greatest extent practicable, the same rights and obligations he, she or it had been subject to prior to such change. 

  
 7 

 5.5 Disinterested Committee Members to Make Determinations. In the event that
any Class B Stockholder breaches its obligations under this Agreement, then the Executive Committee shall have the exclusive right to make any and all determinations that may be necessary or appropriate under this Agreement, including without
limitation, determinations relating to the exercise and enforcement of remedies hereunder. If a Class B Stockholder who is also a member of the Executive Committee breaches his or her obligations under this Agreement, such Class B Stockholder must
refrain from exercising his or her vote at meetings of the Executive Committee to give effect to this Section 5.5. 

5.6 Severability. If the final determination of a court of competent jurisdiction declares, after the expiration of the
time within which judicial review (if permitted) of such determination may be perfected, that any term or provision hereof is invalid or unenforceable, (a) the remaining terms and provisions hereof shall be unimpaired and (b) the invalid
or unenforceable term or provision shall be deemed replaced by a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. 

5.7 Representatives, Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the
respective parties hereto and their respective legatees, legal representatives, successors and assigns; provided that Class B Stockholders may not assign, delegate or otherwise transfer any of their rights or obligations under this Agreement
except with the written consent of the Executive Committee. 
 5.8 Governing Law. THIS AGREEMENT SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF DELAWARE (WITHOUT GIVING EFFECT TO CONFLICT OF LAWS PRINCIPLES THEREOF). The parties hereto agree that irreparable damage would occur in the event that any of the provisions
of this Agreement were not performed in accordance with its specific terms or was otherwise breached. It is accordingly agreed that the parties hereto shall be entitled to an injunction or injunctions and other equitable remedies to prevent breaches
of this Agreement and to enforce specifically the terms and provisions hereof in the United States District Court for the Southern District of New York and the courts of the State of New York sitting in the County of New York (and any court to which
an appeal therefrom may be taken), this being in addition to any other remedy to which they are entitled at law or in equity. Any requirements for the securing or posting of any bond with respect to such remedy are hereby waived by each of the
parties hereto. Each party further agrees that, in the event of any action for an injunction or other equitable remedy in respect of such breach or enforcement of specific performance, it will not assert the defense that a remedy at law would be
adequate. 
 5.9 Specific Performance. Each of the parties hereto acknowledges that it will be impossible to
measure in money the damage to the Company or the Class B Stockholders if any party hereto fails to comply with the provisions of Article 1 or 2 and each party hereto agrees that in the event of any such failure, neither the Company nor any Class B
Stockholder will have an adequate remedy at law. Therefore, the Company and each Class B Stockholder, in addition to all of the other remedies which may be available, shall have the right to equitable relief, including, without limitation, the right
to enforce specifically the provisions of Articles 1 and 2 by obtaining injunctive relief against any violation thereof, or otherwise. All claims for specific performance of one or more provisions of this Agreement shall be resolved exclusively by
litigation before a court of competent jurisdiction located in the State of New York. 

  
 8 

 5.10 Submission to Jurisdiction; Waiver of Immunity. Each Class B Stockholder,
for itself and its successors and assigns, hereby irrevocably waives (a) any objection, and agrees not to assert, as a defense in any legal or equitable action, suit or proceeding against such Class B Stockholder arising out of or relating to
this Agreement or any transaction contemplated hereby or the subject matter of any of the foregoing, that (i) it is not subject thereto or that such action, suit or proceeding may not be brought or is not maintainable before such arbitral body
or in said courts, (ii) the venue thereof may not be appropriate and (iii) the internal laws of the State of Delaware do not govern the validity, interpretation or effect of this Agreement, (b) any immunity from jurisdiction to which
it might otherwise be entitled in any such arbitration, action, suit or proceeding which may be instituted before any state or federal court in the State of Delaware or the State of New York in accordance with Section 5.9 and
(c) any immunity from the maintaining of an action against it to enforce any judgment for money obtained in any such arbitration, action, suit or proceeding and, to the extent permitted by applicable law, any immunity from execution.

 5.11 Waiver of Jury Trial. EACH PARTY TO THIS AGREEMENT ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY
ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE, IT HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING
OUT OF OR RELATING TO THIS AGREEMENT AND ANY OF THE AGREEMENTS DELIVERED IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. 
 5.12 Further Assurances. Each Class B Stockholder shall execute, deliver, acknowledge and file such other documents and take such further actions as may be reasonably requested from time to
time by the Company to give effect to and carry out the transactions contemplated herein. 
 5.13 Execution in
Counterparts. This Agreement may be executed in any number of counterparts, including electronic counterparts, each of which shall be deemed an original, but all such counterparts shall together constitute but one and the same instrument, it
being understood that both parties need not sign the same counterpart. 
 5.14 Entire Agreement. This Agreement,
including Annex A hereto, contains the entire understanding of the parties with respect to the subject matter hereof, and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject
matter hereof. 
 5.15 Construction. This Agreement shall be decided by a court of law and shall not be
construed in favor of the drafters of this Agreement. 

  
 9 

 5.16 Interpretation. The headings contained in this Agreement are for
reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. Whenever the words “included”, “includes” or “including” are used in this Agreement, they shall be deemed to be
followed by the words “without limitation.” 
 [Signature page to follow] 

  
 10 

 IN WITNESS WHEREOF, the parties hereto have caused this Class B Stockholders’ Agreement
to be duly executed as of the date first above written. 
  

					
		 	SILVERCREST ASSET MANAGEMENT GROUP INC.
			
		 	By:	 	  

		 		 	Name:
		 		 	Title:

  

			
	 CLASS B PARTNERS:

		
		 	
	 Jeffrey C. Allen

		
		 	
	 Edward F. Appel

		
		 	
	 Matthew Arpano

		
		 	
	 Patrick A. Bittner

 
 James J. Bleakley, Jr. Revocable Trust dated 

May 15, 2002 

		
		 	
	By:	 	 
	 Name: James J. Bleakley, Jr.

	 Title:  Trustee

		
		 	
	 Jeremiah M. Bogert

		
		 	
	 The Margot C. Bogert and
 Jeremiah M. Bogert Family Trust 

		
		 	
	By:	 	 
	 Name: Jeremiah M. Bogert

	 Title:  Trustee

		
		 	
	 Ben Brewster

		 	

  
 Signature
Page to Class B Stockholders’ Agreement 

 
	
	Brewster 1966 Trust
	
	By:                             
                                         
                         
	Name:
	Title:
	
	                             
                                         
                               
	Russell Brown
	
	                             
                                         
                               
	David J. Campbell
	
	                             
                                         
                               
	Kim Campione
	
	                             
                                         
                               
	G. Moffett Cochran
	
	The Moffett Cochran GRAT 2010
	
	
	By:                             
                                         
                         
	Name: G. Moffett Cochran
	Title:   Trustee
	
	
	The Peyton Cochran Trust
	
	
	By:                             
                                         
                         
	Name: G. Moffett Cochran
	Title:   Trustee
	
	
	The Lee Cochran Trust
	
	
	By:                             
                                         
                         
	Name: G. Moffett Cochran
	Title: Trustee
	
	                             
                                         
                               
	Anthony Fiore
	
	                             
                                         
                               
	Scott A. Gerard
	
	                             
                                        
                                 
	J. Allen Gray
	

  
 Signature
Page to Class B Stockholders’ Agreement 

 
	
	Hamar Capital Limited
	
	                             
                                         
                               
	G. David Hamar, Jr.
	
	
	George David Hamar Trust DDD 2/3/2006 for
	Katherine Anne Phelps Hamar
	
	
	By:                             
                                         
                         
	Name: G. David Hamar, Jr.
	Title:   Trustee
	
	                             
                                         
                               
	G. David Hamar, Jr.
	
	                             
                                         
                               
	Burnett Hansen
	
	
	The Linda M. Hartley Revocable Lifetime Trust
	
	
	By:                             
                                         
                         
	Name: Linda M. Hartley
	Title:   Trustee
	
	                             
                                         
                               
	Robert F. Hill
	
	                             
                                         
                               
	Richard R. Hough
	
	
	Investor Records Holdings, LLC
	
	
	By:                             
                                         
                         
	Name: Benjamin Brewster
	Title:
	
	                             
                                         
                               
	Martin Jaffe
	
	                             
                                         
                               
	Cathy A. Jameson
	

  
 Signature
Page to Class B Stockholders’ Agreement 

 
	
	
	                             
                                         
                               
	Bart A. Johnston
	
	                             
                                         
                               
	Todd Kanter
	
	
	Kanter Marathon Holding LLC
	
	
	By:                             
                                         
                         
	Name: Todd Kanter
	Title:   Member
	
	
	Lanark Holdings LLC
	
	
	By:                             
                                         
                         
	Name: Benjamin Brewster
	Title:   Member
	
	                             
                                         
                               
	Allen J. Laufer
	
	                             
                                         
                               
	David B. MacNeil
	
	                             
                                         
                               
	Paul McCrann
	
	                             
                                         
                               
	Sally Megear
	
	                             
                                         
                               
	Albert S. Messina
	
	                             
                                         
                               
	Jeremiah Milbank
	
	                             
                                         
                               
	Stanley H. Reese
	
	                             
                                         
                               
	Ian W. Smith

  
 Signature
Page to Class B Stockholders’ Agreement 

 
	
	                             
                                         
                               
	Douglas M. Stevenson
	
	                             
                                         
                               
	John B. Stevenson
	
	                             
                                         
                               
	David Taylor
	
	                             
                                         
                               
	Peter Tobeason
	
	                             
                                         
                               
	Roger W. Vogel
	
	                             
                                         
                               
	Carter Whisnand
	
	                             
                                         
                               
	Robert Teeter
	
	                             
                                         
                               
	David Murdock

  
 Signature
Page to Class B Stockholders’ Agreement 

 ANNEX A 

FORM OF ADDITIONAL PARTY SIGNATURE PAGE 
 THE UNDERSIGNED has caused this Additional Party Signature Page to be duly executed as of the date written below intending to become a party to, and be bound by, the Class B Stockholders’ Agreement,
dated as of [            ], 2013, as amended to date, among Silvercrest Asset Management Group Inc. and the Class B Stockholders parties thereto. 

 

									
	Date:                     	 		 	By:	 	  

		 		 		 		 	Name:
		 		 		 		 	Title:EX-10.1

 Exhibit 10.1 
 EXECUTION VERSION 
 SemGroup Corporation 

$300,000,000 

7.50% Senior Notes due 2021 
 Purchase Agreement 
 June 7, 2013 

Citigroup Global Markets Inc. 
 As
Representative of the Initial Purchasers 
 listed on Schedule I hereto 
 c/o Citigroup Global Markets Inc. 
 388 Greenwich Street 

New York, New York 10013 
 Ladies and Gentlemen:

 SemGroup Corporation, a corporation organized under the laws of Delaware (the “Company”), proposes to issue
and sell to the several parties named in Schedule I hereto (the “Initial Purchasers”), for whom you (the “Representative”) are acting as representative, $300,000,000 principal amount of its 7.50% Senior Notes
due 2021 (the “Notes”). The Notes will be guaranteed (the “Guarantees”) on a senior basis by each of the Guarantors (as defined below). The Notes and the Guarantees are hereinafter collectively referred to as the
“Securities.” The Securities will have the benefit of a registration rights agreement (the “Registration Rights Agreement”) to be dated as of the Closing Date (as defined below), between the Company, the
subsidiaries of the Company listed on the signature pages hereto (the “Guarantors”) and the Initial Purchasers, pursuant to which the Company and the Guarantors will agree to register the Securities under the Act subject to the
terms and conditions therein specified. The Securities are to be issued under an indenture (the “Indenture”), to be dated as of the Closing Date, between the Company, the Guarantors and Wilmington Trust, National Association, as
trustee (the “Trustee”). The term Initial Purchasers shall mean either the singular or plural as the context requires. The use of the neuter in this Agreement shall include the feminine and masculine wherever appropriate. Certain
terms used herein are defined in Section 21 hereof. 
 The sale of the Securities to the Initial Purchasers will be made
without registration of the Securities under the Act in reliance upon exemptions from the registration requirements of the Act. 

In connection with the sale of the Securities, the Company has prepared a preliminary offering memorandum, dated June 3, 2013 (as
amended or supplemented at the date thereof, including any and all exhibits thereto, the “Preliminary Memorandum”), and a final offering memorandum, dated June 7, 2013 (as amended or supplemented at the Execution Time,
including any and all exhibits thereto, the “Final Memorandum”). Each of the Preliminary Memorandum and the Final Memorandum sets forth certain information concerning the 

 
Company, the Guarantors and their respective subsidiaries and businesses, and the Securities. The Company hereby confirms that it has authorized the use of the Disclosure Package, the Preliminary
Memorandum and the Final Memorandum, and any amendment or supplement thereto, in connection with the offer and sale of the Securities by the Initial Purchasers. 
 1. Representations and Warranties. The Company represents and warrants to, and agrees with, each Initial Purchaser as set forth below in this Section 1. 

(a) The Preliminary Memorandum, at the date thereof, did not contain any untrue statement of a material fact or omit to state any
material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. At the Execution Time and on the Closing Date, the Final Memorandum did not and will not (and any amendment or
supplement thereto, at the date thereof and at the Closing Date will not) contain any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they
were made, not misleading; provided, however, that the Company makes no representation or warranty as to the information contained in or omitted from the Preliminary Memorandum or the Final Memorandum, or any amendment or supplement
thereto, in reliance upon and in conformity with information furnished in writing to the Company by or on behalf of the Initial Purchasers through the Representative specifically for inclusion therein, it being understood and agreed that the only
such information furnished by or on behalf of any Initial Purchaser consists of the information described as such in Section 8(b) hereof. 
 (b) As of the Execution Time, (i) the Disclosure Package and (ii) each electronic road show, when taken together as a whole with the Disclosure Package, does not contain any untrue statement of
a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. The preceding sentence does not apply to statements in or omissions
from the Disclosure Package based upon and in conformity with written information furnished to the Company by any Initial Purchaser through the Representative specifically for use therein, it being understood and agreed that the only such
information furnished by or on behalf of any Initial Purchaser consists of the information described as such in Section 8(b) hereof. 
 (c) None of the Company, its Affiliates, or any person acting on its or their behalf (other than the Initial Purchasers and their Affiliates as to whom the Company makes no representation or warranty)
has, directly or indirectly, made offers or sales of any security, or solicited offers to buy, any security under circumstances that would require the registration of the Securities under the Act. 

(d) None of the Company, its Affiliates, or any person acting on its or their behalf (other than the Initial Purchasers and their
Affiliates as to whom the Company makes no representation or warranty) has: (i) engaged in any form of general solicitation or general advertising (within the meaning of Regulation D) in connection with any offer or sale of the Securities
or (ii) engaged in any directed selling efforts (within the meaning of Regulation S) with respect to the Securities; and each of the Company, its Affiliates and each person acting on its or their behalf (other than the Initial Purchasers and
their Affiliates as to whom the Company makes no representation or warranty) has complied with the offering restrictions requirement of Regulation S. 

  
 2 

 (e) The Securities satisfy the eligibility requirements of Rule 144A(d)(3) under the
Act. 
 (f) Subject to the accuracy of the representations and warranties set forth in Section 4 hereof, no registration
under the Act of the Securities is required for the offer and sale of the Securities to or by the Initial Purchasers in the manner contemplated herein, in the Disclosure Package and the Final Memorandum. 

(g) The Company is not, and after giving effect to the offering and sale of the Securities and the application of the proceeds thereof as
described in the Disclosure Package and the Final Memorandum will not be, an “investment company” as defined in the Investment Company Act. 
 (h) The Company has not paid or agreed to pay to any person any compensation for soliciting another to purchase the Securities (except as contemplated in this Agreement). 

(i) The Company has not taken, directly or indirectly, any action designed to or that has constituted or that might reasonably be
expected to cause or result, under the Exchange Act or otherwise, in stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Securities. 

(j) Each of the Company and its subsidiaries (as defined below) has been duly incorporated or formed and is validly existing and in good
standing under the laws of the jurisdiction in which it is chartered or organized with full requisite power and authority to own or lease, as the case may be, and to operate its properties and conduct its business as described in the Disclosure
Package and the Final Memorandum, and the Company and each Guarantor is duly qualified to do business as a foreign corporation or other entity and is in good standing under the laws of each jurisdiction that requires such qualification except for
such jurisdictions where the failure to so qualify or to be in good standing would not, individually or in the aggregate, have a Material Adverse Effect (as defined below). 
 (k) All the outstanding shares of capital stock or other ownership interests of the Company and each subsidiary have been duly authorized and validly issued and, with respect to such capital stock, are
fully paid and nonassessable, and, except as otherwise set forth in the Disclosure Package and the Final Memorandum, all outstanding shares of capital stock or other ownership interests of the subsidiaries are owned by the Company either directly or
through wholly owned subsidiaries free and clear of any security interest, claim, lien or encumbrance. 
 (l) The statements in
the Preliminary Memorandum and the Final Memorandum under the headings “Certain United States Federal Tax Considerations”, “Description of the Notes”, “Exchange Offer; Registration Rights”,
“Business—Regulation”, “The Acquisition” and “Description of Other Indebtedness” fairly summarize the matters therein described. 

  
 3 

 (m) This Agreement has been duly authorized, executed and delivered by the Company and the
Guarantors; the Registration Rights Agreement has been duly authorized, and, on the Closing Date, will have been duly executed and delivered by the Company and the Guarantors and, assuming the due authorization, execution and delivery thereof by the
other parties thereto, will constitute a legal, valid and binding instrument enforceable against the Company and the Guarantors in accordance with its terms (subject, as to the enforcement of remedies, to applicable bankruptcy, reorganization,
insolvency, fraudulent transfer, moratorium or other laws affecting creditors’ rights generally from time to time in effect and to general principles of equity and except as rights to indemnification may be limited by applicable law); the
Indenture has been duly authorized by the Company and the Guarantors and, assuming due authorization, execution and delivery thereof by the Trustee, when executed and delivered by the Company and the Guarantors, will constitute a legal, valid and
binding instrument enforceable against the Company and the Guarantors in accordance with its terms (subject, as to the enforcement of remedies, to applicable bankruptcy, reorganization, insolvency, fraudulent transfer, moratorium or other laws
affecting creditors’ rights generally from time to time in effect and to general principles of equity and except as rights to indemnification may be limited by applicable law); and the Securities have been duly authorized, and, when executed
and authenticated in accordance with the provisions of the Indenture and delivered to and paid for by the Initial Purchasers, will have been duly executed and delivered by the Company and the Guarantors and will constitute the legal, valid and
binding obligations of the Company and the Guarantors entitled to the benefits of the Indenture (subject, as to the enforcement of remedies, to applicable bankruptcy, reorganization, insolvency, fraudulent transfer, moratorium or other laws
affecting creditors’ rights generally from time to time in effect and to general principles of equity). 
 (n) Each of the
Guarantees has been duly authorized by the applicable Guarantor and, when executed by the applicable Guarantor and delivered to the Trustee in accordance with the terms of the Indenture, will constitute the legal, valid and binding obligation of
such Guarantor enforceable against such Guarantor in accordance with its terms (subject to the enforcement of remedies, to applicable bankruptcy, reorganization, insolvency (including without limitation, all laws relating to fraudulent transfers),
moratorium or other laws affecting creditors’ rights generally from time to time in effect and to general principles of equity). 
 (o) Assuming the accuracy of the representations and warranties set forth in Section 4 hereof, no consent, approval, authorization, filing with or order of any court or governmental agency or body is
required in connection with the transactions contemplated herein, in the Registration Rights Agreement or in the Indenture, except such as have been obtained or made by the Company or the Guarantors and except such as may be required under the
Exchange Act or the blue sky laws of any jurisdiction in which the Securities are offered and sold and, in the case of the Registration Rights Agreement, such as will be obtained under the Act and the Trust Indenture Act. 

(p) None of the execution and delivery of this Agreement, the Registration Rights Agreement or the Indenture, the issuance and sale of
the Securities, or the consummation of any other of the transactions herein or therein contemplated, or the fulfillment of the terms hereof or thereof will conflict with, result in a breach or violation or imposition of any lien, charge or
encumbrance upon any property or assets of the Company or any of its subsidiaries pursuant to, (i) the charter or by-laws or comparable constituting documents of the Company or any of its subsidiaries; (ii) the terms of any indenture,
contract, lease, mortgage, deed of trust, note 

  
 4 

 
agreement, loan agreement or other agreement, obligation, condition, covenant or instrument to which the Company or any of its subsidiaries is a party or bound or to which its or their property
is subject; or (iii) any statute, law, rule, regulation, judgment, order or decree of any court, regulatory body, administrative agency, governmental body, arbitrator or other authority having jurisdiction over the Company or any of its
subsidiaries or any of its or their properties, except, in the case of clauses (ii) and (iii) above, for such conflicts, breaches, violations, liens, charges or encumbrances as would not, individually or in the aggregate, have a Material
Adverse Effect. 
 (q) The consolidated historical financial statements and schedules of the Company and its consolidated
subsidiaries included in the Disclosure Package and the Final Memorandum present fairly the financial condition, results of operations and cash flows of the Company as of the dates and for the periods indicated, comply as to form with the applicable
accounting requirements of Regulation S-X and have been prepared in conformity with generally accepted accounting principles in the United States applied on a consistent basis throughout the periods involved (except as otherwise noted therein); the
selected financial data set forth under the caption “Selected Historical Consolidated Financial Data” in the Preliminary Memorandum and the Final Memorandum fairly present, on the basis stated in the Preliminary Memorandum and the Final
Memorandum, the information included therein. 
 (r) No action, suit or proceeding by or before any court or governmental
agency, authority or body or any arbitrator involving the Company or any of its subsidiaries or its or their property is pending or, to the knowledge of the Company, threatened that (i) could reasonably be expected to have a material adverse
effect on the performance of this Agreement, the Indenture, the Registration Rights Agreement or the consummation of any of the transactions contemplated hereby or thereby or (ii) could reasonably be expected to have a material adverse effect
on the condition (financial or otherwise), prospects, earnings, business or properties of the Company and its subsidiaries, taken as a whole, whether or not arising from transactions in the ordinary course of business (a “Material Adverse
Effect”), except as set forth in or contemplated in the Disclosure Package and the Final Memorandum (exclusive of any amendment or supplement thereto). 
 (s) Each of the Company and its subsidiaries owns or leases all such properties as are necessary to the conduct of its operations as presently conducted, except those that would not, individually or in
the aggregate, have a Material Adverse Effect. 
 (t) Neither the Company nor any of its subsidiaries is in violation or default
of (i) any provision of its charter or bylaws or comparable constituting documents; (ii) the terms of any indenture, contract, lease, mortgage, deed of trust, note agreement, loan agreement or other agreement, obligation, condition,
covenant or instrument to which it is a party or bound or to which its property is subject; or (iii) any statute, law, rule, regulation, judgment, order or decree applicable to the Company or any of its subsidiaries of any court, regulatory
body, administrative agency, governmental body, arbitrator or other authority having jurisdiction over the Company or such subsidiary or any of its properties, as applicable, except, in the case of clauses (ii) and (iii) above, for such
violations or defaults as would not, individually or in the aggregate, have a Material Adverse Effect. 

  
 5 

 (u) BDO USA, LLP, who have certified certain financial statements of the Company and its
consolidated subsidiaries and delivered their report with respect to the audited consolidated financial statements and schedules included in the Disclosure Package and the Final Memorandum, are independent public accountants with respect to the
Company in accordance with the applicable rules and regulations adopted by the Commission and the Public Company Accounting Oversight Board (United States) and as required by the Act. 

(v) There are no stamp or other issuance or transfer taxes or duties or other similar fees or charges required to be paid in connection
with the execution and delivery of this Agreement or the issuance or sale of the Securities. 
 (w) The Company has filed all
applicable tax returns that are required to be filed or has requested extensions thereof (except in any case in which the failure so to file would not have a Material Adverse Effect and except as set forth in or contemplated in the Disclosure
Package and the Final Memorandum (exclusive of any amendment or supplement thereto)) and has paid all taxes required to be paid by it and any other assessment, fine or penalty levied against it, to the extent that any of the foregoing is due and
payable, except for any such assessment, fine or penalty that is currently being contested in good faith or as would not have a Material Adverse Effect and except as set forth in or contemplated in the Disclosure Package and the Final Memorandum
(exclusive of any amendment or supplement thereto). 
 (x) No labor problem or dispute with the employees of the Company or any
of its subsidiaries exists or, to the knowledge of the Company, is threatened or imminent, and the Company is not aware of any existing or imminent labor disturbance by the employees of any of its or its subsidiaries’ principal suppliers,
contractors or customers, except as would not have a Material Adverse Effect. 
 (y) No subsidiary of the Company is currently
prohibited, directly or indirectly, from paying any dividends to the Company, from making any other distribution on such subsidiary’s capital stock or other ownership interest, from repaying to the Company any loans or advances to such
subsidiary from the Company or from transferring any of such subsidiary’s property or assets to the Company or any other subsidiary of the Company, except as described in or contemplated in the Disclosure Package or the Final Memorandum (in
each case, exclusive of any amendment or supplement thereto). 
 (z) The Company and each of its subsidiaries are insured by
insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which they are engaged; all policies of insurance and fidelity or surety bonds insuring the Company
or any of its subsidiaries or their respective businesses, assets, employees, officers and directors are in full force and effect; the Company and its subsidiaries are in compliance with the terms of such policies and instruments in all material
respects; there are no material claims by the Company or any of its subsidiaries under any such policy or instrument as to which any insurance company is denying liability or defending under a reservation of rights clause; neither the Company nor
any of its subsidiaries has been refused any insurance coverage sought or applied for; and neither the Company nor any of its subsidiaries has any reason to believe that it will not be able to renew its existing insurance coverage as and when such
coverage expires or to obtain similar coverage from similar insurers 

  
 6 

 
as may be necessary to continue its business at a cost that would not have a Material Adverse Effect except as set forth in or contemplated in the Disclosure Package and the Final Memorandum
(exclusive of any amendment or supplement thereto). 
 (aa) The Company and its subsidiaries possess all licenses, certificates,
permits and other authorizations issued by all applicable authorities necessary to conduct their respective businesses, except where the failure to possess same would not, individually or in the aggregate, have a Material Adverse Effect and neither
the Company nor any of its subsidiaries has received any notice of proceedings relating to the revocation or modification of any such certificate, authorization or permit which, individually or in the aggregate, if the subject of an unfavorable
decision, ruling or finding, would have a Material Adverse Effect, except as set forth in or contemplated in the Disclosure Package and the Final Memorandum (exclusive of any amendment or supplement thereto). 

(bb) The Company and each of its subsidiaries maintain a system of internal accounting controls sufficient to provide reasonable
assurance that (i) transactions are executed in accordance with management’s general or specific authorizations; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally
accepted accounting principles in the United States and to maintain asset accountability; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded accountability
for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. The Company and its subsidiaries’ internal controls over financial reporting are effective and the Company
and its subsidiaries are not aware of any material weakness in their internal control over financial reporting. 
 The Company
and its subsidiaries maintain “disclosure controls and procedures” (as such term is defined in Rule 13a-15(e) under the Exchange Act); such disclosure controls and procedures are effective. 

(cc) The Company and its subsidiaries (i) are and have at all times in the past been in compliance with any and all applicable
Environmental Laws (as defined below); (ii) have received and are in compliance with all permits, licenses, registrations or other approvals, including for the construction of all pipelines and facilities, required of them under applicable
Environmental Laws to conduct their respective businesses; and (iii) have not received notice of any actual or potential liability under any Environmental Law, except where such non-compliance with Environmental Laws, failure to receive
required permits, licenses, registrations or other approvals, or liability would not, individually or in the aggregate, have a Material Adverse Effect, except as set forth in or contemplated in the Disclosure Package and the Final Memorandum
(exclusive of any amendment or supplement thereto). 
 (dd) There has been no Release or threatened Release of Regulated
Materials (as defined below) at, to or from any property, pipeline or facility, currently or, to the knowledge of the Company, formerly owned, operated or leased by the Company or any of its subsidiaries, which would reasonably be expected to give
rise to liability under Environmental Laws, except where such liability under Environmental Laws would not, either individually or in the aggregate, have a Material Adverse Effect. Except as set forth in the Disclosure Package and the

  
 7 

 
Final Memorandum, neither the Company nor any of its subsidiaries has been named as a “potentially responsible party” under the Comprehensive Environmental Response, Compensation, and
Liability Act of 1980, as amended. 
 (ee) Neither the Company nor any of its subsidiaries has entered into any agreement or
contract to assume, guarantee or indemnify a third party for any claims under Environmental Laws. 
 (ff) In the ordinary course
of its business, the Company periodically reviews the effect of Environmental Laws on the business, operations and properties of the Company and its subsidiaries, in the course of which it identifies and evaluates associated costs and liabilities
(including, without limitation, any capital or operating expenditures required for investigation or clean-up, closure of properties or compliance with Environmental Laws, or any permit, license or approval, any related constraints on operating
activities and any potential liabilities to third parties); on the basis of such review, the Company has reasonably concluded that such associated costs and liabilities would not, individually or in the aggregate, have a Material Adverse Effect,
except as set forth in or contemplated in the Disclosure Package and the Final Memorandum (exclusive of any amendment or supplement thereto). For purposes of this Agreement, “Environment” means ambient air, indoor air, surface water,
groundwater, drinking water, soil, surface and subsurface strata, and natural resources such as wetlands, flora and fauna. “Environmental Laws” means the common law and all federal, state, local and foreign laws or regulations, ordinances,
codes, orders, decrees, judgments and injunctions issued, promulgated or entered thereunder, relating to pollution or protection of the Environment, to human health and to the distribution and production of energy, including without limitation,
those relating to (i) the Release or threatened Release of Regulated Materials; (ii) the manufacture, processing, gathering, distribution, use, generation, treatment, storage, transport, handling or recycling of Regulated Materials; and
(iii) pipeline safety. “Regulated Materials” means any substance, material, pollutant or contaminant, chemical, waste, compound, or constituent, in any form regulated under or which can give rise to liability under any Environmental
Law, including without limitation, petroleum and petroleum products, natural gas and natural gas liquids, asbestos and asbestos and asbestos containing materials. “Release” means any release, spill, emission, discharge, deposit, disposal,
leaking, pumping, pouring, dumping, emptying, injection or leaching into the Environment, or into, from or through any building, pipeline, structure or facility. 
 (gg) The subsidiaries listed on Annex A attached hereto are the only “significant subsidiaries” of the Company (as defined in Rule 1-02 of Regulation S-X). 

(hh) To the extent that information is required to be publicly disclosed under the U.K. Financial Services Authority’s Price
Stabilising Rules (the “Stabilizing Rules”) before stabilizing transactions can be undertaken in compliance with the safe harbor provided under such Stabilizing Rules, such information has been adequately publicly disclosed (within
the meaning of the Stabilizing Rules). 
 (ii) (i) Each employee benefit plan, within the meaning of Section 3(3) of the
Employee Retirement Income Security Act of 1974, as amended (“ERISA”), for which the Company or any member of its “Controlled Group” (defined as any organization which is a

  
 8 

 
member of a controlled group of corporations within the meaning of Section 414 of the Code would have any liability (each, a “Plan”) has been maintained in compliance with its
terms and the requirements of any applicable statutes, orders, rules and regulations, including but not limited to ERISA and the Code; (ii) no prohibited transaction, within the meaning of Section 406 of ERISA or Section 4975 of the
Code, has occurred with respect to any Plan, excluding transactions effected pursuant to a statutory or administrative exemption; (iii) with respect to each Plan that is subject to the funding rules of Section 412 of the Code or
Section 302 of ERISA, no failure to satisfy the minimum funding standards under Section 412 of the Code or Section 302 of ERISA, whether or not waived, has occurred or is reasonably expected to occur; (iv) for each Plan that is
subject to the funding rules of ERISA or the Code, the fair market value of the assets of each such Plan is not less than the present value of all benefits accrued under such Plan (determined based on those assumptions used to fund such Plan);
(v) no Plan is, or is reasonably expected to be, in “at risk status” (within the meaning of Section 303(i) of ERISA) or “endangered status” or “critical status” (within the meaning of Section 305 of
ERISA); (vi) no “reportable event” (within the meaning of Section 4043(c) of ERISA) has occurred or is reasonably expected to occur; (vii) each Plan that is intended to be qualified under Section 401(a) of the Code is
so qualified and nothing has occurred, whether by action or by failure to act, which would cause the loss of such qualification and (viii) neither the Company nor any member of the Controlled Group has incurred, nor reasonably expects to incur,
any liability under Title IV of ERISA (other than contributions to the Plan or premiums to the Pension Benefit Guaranty Corporation, in the ordinary course and without default) in respect of Plan (including a “multiemployer plan”, within
the meaning of Section 4001(a)(3) of ERISA), except in each case with respect to the events or conditions set forth in clauses (i) through (viii) above, as would not have a Material Adverse Effect. 

(jj) The operations of the Company and its subsidiaries are and have been conducted at all times in compliance with applicable financial
recordkeeping and reporting requirements and the money laundering statutes and the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency
(collectively, the “Money Laundering Laws”) and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any of its subsidiaries with respect to the
Money Laundering Laws is pending or, to the knowledge of the Company, threatened. 
 (kk) Neither the Company nor any of its
subsidiaries nor, to the knowledge of the Company, any director, officer, agent, employee or Affiliate of the Company or any of its subsidiaries (i) is currently subject to any sanctions administered by the United States (including any
administered or enforced by the Office of Foreign Assets Control of the U.S. Treasury Department (“OFAC”)) or (ii) will, directly or indirectly, use the proceeds of this offering, or lend, contribute or otherwise make available
such proceeds to any subsidiary, joint venture partner or other person in any manner that will result in a violation of any economic sanctions imposed by the United States (including any administered or enforced by OFAC, the U.S. Department of
State, or the Bureau of Industry and Security of the U.S. Department of Commerce), the United Nations Security Council, the European Union, or the United Kingdom (including sanctions administered or controlled by Her Majesty’s Treasury)
(collectively, “Sanctions” and such persons, “Sanctioned Persons”), or could result in the imposition of Sanctions against, any person (including any person participating in the offering of the Securities, whether
as Initial Purchaser, advisor, investor or otherwise). 

  
 9 

 (ll) Neither the Company nor any of its subsidiaries nor, to the knowledge of the Company,
any director, officer, agent, employee or Affiliate of the Company or any of its subsidiaries, is a person that is, or is 50% or more owned or otherwise controlled by a person that is: (i) the subject of any Sanctions; or (ii) located,
organized or resident in a country or territory that is, or whose government is, the subject of Sanctions that broadly prohibit dealings with that country or territory (currently, Cuba, Iran, North Korea, Sudan, and Syria) (collectively,
“Sanctioned Countries” and each, a “Sanctioned Country”). 
 (mm) Except as has been disclosed
to the Initial Purchasers or is not material to the analysis under any Sanctions, neither the Company nor any of its subsidiaries has engaged in any dealings or transactions with or for the benefit of a Sanctioned Person, or with or in a Sanctioned
Country, in the preceding 3 years, nor does the Company or any of its subsidiaries have any plans to increase its dealings or transactions with Sanctioned Persons, or with or in Sanctioned Countries. 

(nn) There is and has been no failure on the part of the Company and any of the Company’s directors or officers, in their capacities
as such, to comply in all material respects with any provision of the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated in connection therewith (the “Sarbanes-Oxley Act”), including Section 402 relating to
loans and Sections 302 and 906 relating to certifications. 
 (oo) Neither the Company nor any of its subsidiaries nor, to the
knowledge of the Company, any director, officer, agent, employee or Affiliate of the Company or any of its subsidiaries is aware of or has taken any action, directly or indirectly, that would result in a violation by such persons of the Foreign
Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (the “FCPA”), including, without limitation, making use of the mails or any means or instrumentality of interstate commerce corruptly in furtherance
of an offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or authorization of the giving of anything of value to any “foreign official” (as such term is defined in the
FCPA) or any foreign political party or official thereof or any candidate for foreign political office, in contravention of the FCPA; and the Company, its subsidiaries and, to the knowledge of the Company, its Affiliates have conducted their
businesses in compliance with the FCPA and have instituted and maintain policies and procedures designed to ensure, and which are reasonably expected to continue to ensure, continued compliance therewith. 

(pp) Any certificate signed by any officer of the Company and delivered to the Representative or counsel for the Initial Purchasers in
connection with the offering of the Securities shall be deemed a representation and warranty by the Company, as to matters covered thereby, to each Initial Purchaser. 
 2. Purchase and Sale. Subject to the terms and conditions and in reliance upon the representations and warranties herein set forth, the Company and the Guarantors agree to sell to each Initial
Purchaser, and each Initial Purchaser agrees, severally and not jointly, to purchase 

  
 10 

 
from the Company and the Guarantors, at a purchase price of 98.0% of the principal amount thereof, plus accrued interest, if any, from June 14, 2013 to the Closing Date, the principal amount
of Securities set forth opposite such Initial Purchaser’s name in Schedule I hereto. 
 3. Delivery and
Payment. Delivery of and payment for the Securities shall be made at 10:00 A.M., New York City time, on June 14, 2013, or at such time on such later date not more than three Business Days after the foregoing date as the Representative shall
designate, which date and time may be postponed by agreement between the Representative and the Company or as provided in Section 9 hereof (such date and time of delivery and payment for the Securities being herein called the “Closing
Date”). Delivery of the Securities shall be made to the Representative for the respective accounts of the several Initial Purchasers against payment by the several Initial Purchasers through the Representative of the purchase price thereof
to or upon the order of the Company by wire transfer payable in same-day funds to the account specified by the Company. Delivery of the Securities shall be made through the facilities of The Depository Trust Company unless the Representative shall
otherwise instruct. 
 4. Offering by Initial Purchasers. (a) Each Initial Purchaser acknowledges that the
Securities have not been and will not be registered under the Act and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons, except pursuant to an exemption from, or in a transaction not subject
to, the registration requirements of the Act. 
 (b) Each Initial Purchaser, severally and not jointly, represents and warrants
to and agrees with the Company that: 
 (i) it has not offered or sold, and will not offer or sell, any
Securities within the United States or to, or for the account or benefit of, U.S. persons (x) as part of their distribution at any time or (y) otherwise until 40 days after the later of the commencement of the offering and the date of the
closing of the offering except: 
  

	 	(A)	to those it reasonably believes to be “qualified institutional buyers” (as defined in Rule 144A under the Act) or 

 

	 	(B)	in accordance with Rule 903 of Regulation S; 

 (ii) neither it nor any person acting on its behalf has made or will make offers or sales of the Securities in the United States by means of any form of general solicitation or general advertising (within
the meaning of Regulation D) in the United States; 
 (iii) in connection with each sale pursuant to
Section 4(b)(i)(A), it has taken or will take reasonable steps to ensure that the purchaser of such Securities is aware that such sale may be made in reliance on Rule 144A; 

(iv) neither it, nor any of its Affiliates nor any person acting on its or their behalf has engaged or will engage in any
directed selling efforts (within the meaning of Regulation S) with respect to the Securities; 

  
 11 

 (v) it is an “accredited investor” (as defined in Rule 501(a) of
Regulation D); 
 (vi) it has complied and will comply with the offering restrictions requirement of
Regulation S; 
 (vii) at or prior to the confirmation of sale of Securities (other than a sale of
Securities pursuant to Section 4(b)(i)(A) of this Agreement), it shall have sent to each distributor, dealer or person receiving a selling concession, fee or other remuneration that purchases Securities from it during the distribution
compliance period (within the meaning of Regulation S) a confirmation or notice to substantially the following effect: 

“The Securities covered hereby have not been registered under the U.S. Securities Act of 1933 (the “Act”) and may
not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (i) as part of their distribution at any time or (ii) otherwise until 40 days after the later of the commencement of the offering and the
date of closing of the offering, except in either case in accordance with Regulation S or Rule 144A under the Act. Terms used in this paragraph have the meanings given to them by Regulation S.”; 

(viii) it has only communicated or caused to be communicated and will only communicate or cause to be communicated any
invitation or inducement to engage in investment activity (within the meaning of Section 21 of the Financial Services and Markets Act 2000 (the “FSMA”)) received by it in connection with the issue or sale of any Securities, in
circumstances in which Section 21(1) of the FSMA does not apply to the Company; 
 (ix) it has complied and
will comply with all applicable provisions of the FSMA with respect to anything done by it in relation to the Securities in, from or otherwise involving the United Kingdom; and 

(x) in relation to each Member State of the European Economic Area which has implemented the Prospectus Directive (each, a
“Relevant Member State”), with effect from and including the date on which the Prospectus Directive is implemented in that Relevant Member State (the “Relevant Implementation Date”), it has not made and will not
make an offer to the public of any Securities which are the subject of the offering contemplated by this Agreement in that Relevant Member State, except that it is permitted to have made and may make an offer to the public in that Relevant Member
State of any Securities at any time with effect from and including the Relevant Implementation Date under the following exemptions under the Prospectus Directive, if they have been implemented in that Relevant Member State: 

 

	 	(A)	to any legal entity that is a qualified investor as defined in the Prospectus Directive; 

  
 12 

	 	(B)	to fewer than 100 or, if the Relevant Member State has implemented the relevant provisions of the 2010 PD Amending Directive, 150, natural or legal persons (other than
qualified investors as defined in the Prospectus Directive), as permitted under the Prospectus Directive subject to obtaining the prior consent of the Representative for any such offer; or 

 

	 	(C)	in any other circumstances falling within Article 3(2) of the Prospectus Directive; 

provided that no such offer of Securities shall require the Company or any Initial Purchaser to publish a
prospectus pursuant to Article 3 of the Prospectus Directive or supplement a prospectus pursuant to Article 16 of the Prospectus Directive. For the purposes of this provision, the expression an “offer to the public” in relation to any
Securities in any Relevant Member State means the communication in any form and by any means of sufficient information on the terms of the offer and any Securities to be offered so as to enable an investor to decide to purchase any Securities, as
the same may be varied in that Member State by any measure implementing the Prospectus Directive in that Member State, the expression “Prospectus Directive” means Directive 2003/71/EC (and amendments thereto, including the 2010 PD Amending
Directive, to the extent implemented in the Relevant Member State), and includes any relevant implementing measure in each Relevant Member State and the expression “2010 PD Amending Directive” means Directive 2010/73/EU; 

5. Agreements. The Company agrees with each Initial Purchaser that: 

(a) The Company will furnish to each Initial Purchaser and to counsel for the Initial Purchasers, without charge, until the completion of
the sale of the Securities by the Initial Purchasers, as many copies of the materials contained in the Disclosure Package and the Final Memorandum and any amendments and supplements thereto as they may reasonably request. 

(b) The Company will prepare a final term sheet, containing solely a description of final terms of the Securities and the offering
thereof, in the form approved by the Representative and attached as Schedule II hereto. 
 (c) The Company will not amend or
supplement the Disclosure Package or the Final Memorandum, without the prior written consent of the Representative. 
 (d) If at
any time prior to the completion of the sale of the Securities by the Initial Purchasers (as determined by the Representative), any event occurs as a result of which the Disclosure Package or the Final Memorandum, as then amended or supplemented,
would include any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made or the circumstances then prevailing, not misleading, or
if it should be necessary to amend or supplement the Disclosure Package or the Final Memorandum to comply with applicable law, 

  
 13 

 
the Company will promptly (i) notify the Representative of any such event; (ii) subject to the requirements of Section 5(c), prepare an amendment or supplement that will correct
such statement or omission or effect such compliance; and (iii) supply any supplemented or amended Disclosure Package or Final Memorandum to the several Initial Purchasers and counsel for the Initial Purchasers without charge in such quantities
as they may reasonably request. 
 (e) Without the prior written consent of the Representative, the Company has not given and
will not give to any prospective purchaser of the Securities any written information concerning the offering of the Securities other than materials contained in the Disclosure Package, the Final Memorandum or any other offering materials prepared by
or with the prior written consent of the Representative. 
 (f) The Company will arrange, if necessary, for the qualification of
the Securities for sale by the Initial Purchasers under the laws of such jurisdictions as the Representative may designate (including Japan and certain provinces of Canada) and will maintain such qualifications in effect so long as required for the
sale of the Securities; provided that in no event shall the Company be obligated to qualify to do business in any jurisdiction where it is not now so qualified or to take any action that would subject it to service of process in suits, other
than those arising out of the offering or sale of the Securities, in any jurisdiction where it is not now so subject. The Company will promptly advise the Representative of the receipt by the Company of any notification with respect to the
suspension of the qualification of the Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose. 
 (g) Prior to the one year anniversary of the Closing Date, the Company will not, and will not permit any of its Affiliates to, resell any Securities that constitute “restricted securities” under
Rule 144 under the Act that have been reacquired by any of them. 
 (h) None of the Company, its Affiliates, or any person
acting on its or their behalf will, directly or indirectly, make offers or sales of any security, or solicit offers to buy any security, under circumstances that would require the registration of the Securities under the Act. 

(i) None of the Company, its Affiliates, or any person acting on its or their behalf will engage in any directed selling efforts (within
the meaning of Regulation S) with respect to the Securities; and each of them will comply with the offering restrictions requirement of Regulation S. 
 (j) None of the Company, its Affiliates, or any person acting on its or their behalf will engage in any form of general solicitation or general advertising (within the meaning of Regulation D) in
connection with any offer or sale of the Securities in the United States. 
 (k) For so long as any of the Securities are
outstanding and are “restricted securities” within the meaning of Rule 144(a)(3) under the Act, the Company, during any period in which it is not subject to and in compliance with Section 13 or 15(d) of the Exchange Act or it is not
exempt from such reporting requirements pursuant to and in compliance with Rule 12g3-2(b) under the Exchange Act, will provide to each holder of such restricted securities and to each prospective purchaser (as designated by such holder) of such
restricted securities, upon 

  
 14 

 
the request of such holder or prospective purchaser, any information required to be provided by Rule 144A(d)(4) under the Act. This covenant is intended to be for the benefit of the holders, and
the prospective purchasers designated by such holders, from time to time of such restricted securities. 
 (l) The Company will
cooperate with the Representative and use its best efforts to permit the Securities to be eligible for clearance and settlement through The Depository Trust Company. 
 (m) Each of the Securities will bear, to the extent applicable, the legend contained in “Transfer Restrictions” in the Preliminary Memorandum and the Final Offering Memorandum for the time
period and upon the other terms stated therein. 
 (n) The Company and its subsidiaries (other than Rose Rock Midstream, L.P.
and its subsidiaries) will not for a period of 90 days following the Execution Time, without the prior written consent of Citigroup, offer, sell or contract to sell, or otherwise dispose of, directly or indirectly, or announce the offering of, any
debt securities issued or guaranteed by the Company or any of its subsidiaries (other than the Securities and other than as required by the Registration Rights Agreement as contemplated herein). 

(o) The Company will not take, directly or indirectly, any action designed to, or that has constituted or that might reasonably be
expected to, cause or result, under the Exchange Act or otherwise, in stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Securities. 

(p) The Company will, for a period of twelve months following the Execution Time, furnish to the Representative (i) all reports or
other communications (financial or other) generally made available to its shareholders, and deliver such reports and communications to the Representative as soon as they are available, unless such documents are furnished to or filed with the
Commission or any securities exchange on which any class of securities of the Company is listed and generally made available to the public and (ii) such additional information concerning the business and financial condition of the Company as
the Representative may from time to time reasonably request (such statements to be on a consolidated basis to the extent the accounts of the Company and its subsidiaries are consolidated in reports furnished to its shareholders). 

(q) The Company agrees to pay the costs and expenses relating to the following matters: (i) the preparation of the Indenture and the
Registration Rights Agreement, the issuance of the Securities and the fees of the Trustee; (ii) the preparation, printing or reproduction of the materials contained in the Disclosure Package and the Final Memorandum and each amendment or
supplement to either of them; (iii) the printing (or reproduction) and delivery (including postage, air freight charges and charges for counting and packaging) of such copies of the materials contained in the Disclosure Package and the Final
Memorandum, and all amendments or supplements to either of them, as may, in each case, be reasonably requested for use in connection with the offering and sale of the Securities; (iv) the authentication, issuance and delivery of the Securities;
(v) any stamp or transfer taxes in connection with the original issuance and sale of the Securities; (vi) the printing (or reproduction) and delivery of this Agreement, any blue sky memorandum and all other agreements or documents printed
(or reproduced) and 

  
 15 

 
delivered in connection with the offering of the Securities; (vii) any registration or qualification of the Securities for offer and sale under the securities or blue sky laws of the several
states, Japan, the provinces of Canada and any other jurisdictions specified pursuant to Section 5(f) (including filing fees and the reasonable fees and expenses of counsel for the Initial Purchasers relating to such registration and
qualification); (vii) the transportation and other expenses incurred by or on behalf of Company representatives in connection with presentations to prospective purchasers of the Securities; (ix) the fees and expenses of the Company’s
accountants and the fees and expenses of counsel (including local and special counsel) for the Company; and (x) all other costs and expenses incident to the performance by the Company of its obligations hereunder. Except as provided in this
Section 5(q) and Sections 7 and 8 hereof, the Initial Purchasers shall pay their own expenses, including the fees and disbursements of their counsel. 
 6. Conditions to the Obligations of the Initial Purchasers. The obligations of the Initial Purchasers to purchase the Securities shall be subject to the accuracy of the representations and
warranties of the Company contained herein at the Execution Time and the Closing Date, to the accuracy of the statements of the Company made in any certificates pursuant to the provisions hereof, to the performance by the Company of its obligations
hereunder and to the following additional conditions: 
 (a) The Company shall have requested and caused
(i) Conner & Winters, LLP, counsel for the Company and the Guarantors, to furnish its usual and customary opinion and negative assurance letter and (ii) Gibson Dunn Crutcher, LLP, special counsel for the Company and the
Guarantors, to furnish to the Representative its usual and customary opinion, both dated the Closing Date and addressed and reasonably satisfactory to the Representative, the forms of which are attached hereto as Exhibit A-1 and A-2.

 In rendering such opinion, such counsel may rely (A) as to matters involving the application of laws of any jurisdiction
other than the jurisdiction of incorporation of the Company, the State of New York or the federal laws of the United States, to the extent they deem proper and specified in such opinion, upon the opinion of other counsel of good standing whom they
believe to be reliable and who are satisfactory to counsel for the Initial Purchasers and (B) as to matters of fact, to the extent they deem proper, on certificates of responsible officers of the Company and public officials. References to the
Disclosure Package, the Preliminary Memorandum and the Final Memorandum in this Section 6(a) include any amendment or supplement thereto at the Closing Date. 
 (b) The Representative shall have received from Cahill Gordon & Reindel LLP, counsel for the Initial Purchasers, such opinion or opinions, dated the Closing Date and addressed to the
Representative, with respect to the issuance and sale of the Securities, the Indenture, the Registration Rights Agreement, the Disclosure Package, the Final Memorandum (as amended or supplemented at the Closing Date) and other related matters as the
Representative may reasonably require, and the Company shall have furnished to such counsel such documents as they request for the purpose of enabling them to pass upon such matters. 

  
 16 

 (c) The Company shall have furnished to the Representative a certificate of the Company,
signed by (x) the Chairman of the Board or the President and (y) the principal financial or accounting officer of the Company, dated the Closing Date, to the effect that the signers of such certificate have carefully examined the
Disclosure Package and the Final Memorandum and any supplements or amendments thereto, and this Agreement and that: 
 (i) the representations and warranties of the Company in this Agreement are true and correct on and as of the Closing Date with the same effect as if made on the Closing Date, and the Company has complied
with all the agreements and satisfied all the conditions on its part to be performed or satisfied hereunder at or prior to the Closing Date; and 
 (ii) since the date of the most recent audited financial statements included in the Disclosure Package and the Final Memorandum (exclusive of any amendment or supplement thereto), there has not occurred
any Material Adverse Effect. 
 (d) At the Execution Time and at the Closing Date, the Company shall have requested and caused
BDO USA, LLP to furnish to the Representative a “comfort letter,” dated as of the Execution Time, and a “bring down comfort letter,” dated as of the Closing Date, in form and substance satisfactory to the Representative,
confirming that they are independent accountants within the meaning of the Exchange Act and the applicable published rules and regulations thereunder and confirming certain matters with respect to the audited and unaudited financial statements and
other financial and accounting information included in the Disclosure Package and the Final Memorandum, including any amendment or supplement thereto as of the date of the applicable letter. 

(e) Subsequent to the Execution Time or, if earlier, the dates as of which information is given in the Disclosure Package (exclusive of
any amendment or supplement thereto) and the Final Memorandum (exclusive of any amendment or supplement thereto), there shall not have been (i) any change or decrease specified in the letter or letters referred to in paragraph (d) of this
Section 6; or (ii) any change, or any development involving a prospective change, in or affecting the condition (financial or otherwise), prospects, earnings, business or properties of the Company and its subsidiaries taken as a whole,
whether or not arising from transactions in the ordinary course of business, except as set forth in or contemplated in the Disclosure Package and the Final Memorandum (exclusive of any amendment or supplement thereto), the effect of which, in any
case referred to in clause (i) or (ii) above, is, in the sole judgment of the Representative, so material and adverse as to make it impractical or inadvisable to proceed with the offering or delivery of the Securities as contemplated in
the Disclosure Package and the Final Memorandum (exclusive of any amendment or supplement thereto). 
 (f) The Securities shall
be eligible for clearance and settlement through The Depository Trust Company. 
 (g) Subsequent to the Execution Time, there
shall not have been any decrease in the rating of any of the Company’s debt securities by any “nationally recognized statistical rating organization” (as defined for purposes of Rule 3(a)(62) of the Exchange Act) or any notice
given of any intended or potential decrease in any such rating or of a possible change in any such rating that does not indicate the direction of the possible change. 

  
 17 

 (h) The Company will apply the proceeds from the sale of the Securities as described in each
of the Disclosure Package and the Final Offering Memorandum, under the heading “Use of Proceeds”, and the Representative shall have received evidence to it of the same. 

(i) Prior to the Closing Date, the Company shall have furnished to the Representative such further information, certificates and
documents as the Representative may reasonably request. 
 If any of the conditions specified in this Section 6 shall not
have been fulfilled when and as provided in this Agreement, or if any of the opinions and certificates mentioned above or elsewhere in this Agreement shall not be reasonably satisfactory in form and substance to the Representative and counsel for
the Initial Purchasers, this Agreement and all obligations of the Initial Purchasers hereunder may be cancelled at, or at any time prior to, the Closing Date by the Representative. Notice of such cancellation shall be given to the Company in writing
or by telephone or facsimile confirmed in writing. 
 The documents required to be delivered by this Section 6 will be
delivered at the office of counsel for the Initial Purchasers, at 80 Pine Street, New York, New York 10005, on the Closing Date. 
 7. Reimbursement of Expenses. If the sale of the Securities provided for herein is not consummated because any condition to the obligations of the Initial Purchasers set forth in Section 6
hereof is not satisfied, because of any termination pursuant to Section 10 hereof or because of any refusal, inability or failure on the part of the Company to perform any agreement herein or comply with any provision hereof other than by
reason of a default by any of the Initial Purchasers, the Company will reimburse the Initial Purchasers severally through Citigroup on demand for all reasonable out-of-pocket expenses (including reasonable fees and disbursements of counsel) that
shall have been incurred by them in connection with the proposed purchase and sale of the Securities. 
 8. Indemnification
and Contribution. (a) The Company agrees to indemnify and hold harmless each Initial Purchaser, the directors, officers, employees, Affiliates and agents of each Initial Purchaser and each person who controls any Initial Purchaser within the
meaning of either the Act or the Exchange Act against any and all losses, claims, damages or liabilities, joint or several, to which they or any of them may become subject under the Act, the Exchange Act or other U.S. federal or state statutory law
or regulation, at common law or otherwise, insofar as such losses, claims, damages or liabilities or actions in respect thereof arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in the
Preliminary Memorandum, the Final Memorandum, any Issuer Written Information or any other written information used by or on behalf of the Company in connection with the offer or sale of the Securities, or in any amendment or supplement thereto, or
arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading,
and agrees to reimburse each such indemnified party, as incurred, for any legal or other expenses reasonably incurred by it in connection with investigating or defending any such loss, claim, damage, liability or action; provided,
however, that the Company will not 

  
 18 

 
be liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon any such untrue statement or alleged untrue statement or omission or alleged
omission made in the Preliminary Memorandum or the Final Memorandum, or in any amendment thereof or supplement thereto, in reliance upon and in conformity with written information furnished to the Company by or on behalf of any Initial Purchaser
through the Representative specifically for inclusion therein. This indemnity agreement will be in addition to any liability that the Company may otherwise have. 
 (b) Each Initial Purchaser severally, and not jointly, agrees to indemnify and hold harmless the Company, each of its directors, each of its officers, and each person who controls the Company within the
meaning of either the Act or the Exchange Act, to the same extent as the foregoing indemnity to each Initial Purchaser, but only with reference to written information relating to such Initial Purchaser furnished to the Company by or on behalf of
such Initial Purchaser through the Representative specifically for inclusion in the Preliminary Memorandum or the Final Memorandum (or in any amendment or supplement thereto), and will reimburse the Company and such other persons for all
out-of-pocket expenses reasonably incurred by the Company or such other persons in connection with investigating or defending any such action or claim as such expenses are incurred. This indemnity agreement will be in addition to any liability that
any Initial Purchaser may otherwise have. The Company acknowledges that the statements set forth under the heading “Plan of Distribution” in the 9th and 10th paragraph related to stabilization, syndicate covering transactions and penalty
bids in the Preliminary Memorandum and the Final Memorandum constitute the only written information furnished to the Company by or on behalf of any Initial Purchaser for inclusion in the Preliminary Memorandum or the Final Memorandum or in any
amendment or supplement thereto. 
 (c) Promptly after receipt by an indemnified party under this Section 8 of notice of
the commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against the indemnifying party under this Section 8, notify the indemnifying party in writing of the commencement thereof; but the failure
so to notify the indemnifying party (i) will not relieve it from liability under paragraph (a) or (b) above unless and to the extent it did not otherwise learn of such action and such failure results in the forfeiture by the
indemnifying party of substantial rights and defenses and (ii) will not, in any event, relieve the indemnifying party from any obligations to any indemnified party other than the indemnification obligation provided in paragraph (a) or
(b) above. The indemnifying party shall be entitled to appoint counsel (including local counsel) of the indemnifying party’s choice at the indemnifying party’s expense to represent the indemnified party in any action for which
indemnification is sought (in which case the indemnifying party shall not thereafter be responsible for the fees and expenses of any separate counsel, other than local counsel if not appointed by the indemnifying party, retained by the indemnified
party or parties except as set forth below); provided, however, that such counsel shall be satisfactory to the indemnified party. Notwithstanding the indemnifying party’s election to appoint counsel (including local counsel) to
represent the indemnified party in an action, the indemnified party shall have the right to employ separate counsel (including local counsel), and the indemnifying party shall bear the reasonable fees, costs and expenses of such separate counsel if
(i) the use of counsel chosen by the indemnifying party to represent the indemnified party would present such counsel with a conflict of interest; (ii) the actual or potential defendants in, or targets of, any such action include both the
indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be legal defenses 

  
 19 

 
available to it and/or other indemnified parties that are different from or additional to those available to the indemnifying party; (iii) the indemnifying party shall not have employed
counsel satisfactory to the indemnified party to represent the indemnified party within a reasonable time after notice of the institution of such action; or (iv) the indemnifying party shall authorize the indemnified party to employ separate
counsel at the expense of the indemnifying party. An indemnifying party will not, without the prior written consent of the indemnified parties, settle or compromise or consent to the entry of any judgment with respect to any pending or threatened
claim, action, suit or proceeding in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified parties are actual or potential parties to such claim or action) unless such settlement, compromise or
consent includes an unconditional release of each indemnified party from all liability arising out of such claim, action, suit or proceeding and does not include an admission of fault, culpability or failure to act by or on behalf of such
indemnified party. An indemnifying party shall not be liable under this Section 8 to any indemnified party regarding any settlement or compromise or consent to the entry of any judgment with respect to any pending or threatened claim, action,
suit or proceeding in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified parties are actual or potential parties to such claim or action) unless such settlement, compromise or consent is
consented to by such indemnifying party, which consent shall not be unreasonably withheld, but if settled with such consent or if there is a final judgment for the plaintiff, such indemnifying party agrees to indemnify the indemnified party in
accordance with this Section 8. 
 (d) In the event that the indemnity provided in paragraph (a) or (b) of this
Section 8 is unavailable to or insufficient to hold harmless an indemnified party for any reason, the Company and the Initial Purchasers severally agree to contribute to the aggregate losses, claims, damages and liabilities (including legal or
other expenses reasonably incurred in connection with investigating or defending any loss, claim, damage, liability or action) (collectively “Losses”) to which the Company and one or more of the Initial Purchasers may be subject in
such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by the Initial Purchasers on the other from the offering of the Securities; provided, however, that in no case shall any
Initial Purchaser be responsible for any amount in excess of the purchase discount or commission applicable to the Securities purchased by such Initial Purchaser hereunder. If the allocation provided by the immediately preceding sentence is
unavailable for any reason, the Company and the Initial Purchasers severally shall contribute in such proportion as is appropriate to reflect not only such relative benefits but also the relative fault of the Company on the one hand and the Initial
Purchasers on the other in connection with the statements or omissions that resulted in such Losses, as well as any other relevant equitable considerations. Benefits received by the Company shall be deemed to be equal to the total net proceeds from
the offering (before deducting expenses) received by it, and benefits received by the Initial Purchasers shall be deemed to be equal to the total purchase discounts and commissions. Relative fault shall be determined by reference to, among other
things, whether any untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information provided by the Company on the one hand or the Initial Purchasers on the other, the intent
of the parties and their relative knowledge, access to information and opportunity to correct or prevent such untrue statement or omission. The Company and the Initial Purchasers agree that it would not be just and equitable if contribution were
determined by pro rata allocation or any other method of allocation that does not take account of the equitable considerations referred to above. Notwithstanding the 

  
 20 

 
provisions of this paragraph (d), no person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who
was not guilty of such fraudulent misrepresentation. For purposes of this Section 8, each person who controls an Initial Purchaser within the meaning of either the Act or the Exchange Act and each director, officer, employee, Affiliate and
agent of an Initial Purchaser shall have the same rights to contribution as such Initial Purchaser, and each person who controls the Company within the meaning of either the Act or the Exchange Act and each officer and director of the Company shall
have the same rights to contribution as the Company, subject in each case to the applicable terms and conditions of this paragraph (d). 
 9. Default by an Initial Purchaser. If any one or more Initial Purchasers shall fail to purchase and pay for any of the Securities agreed to be purchased by such Initial Purchaser hereunder and
such failure to purchase shall constitute a default in the performance of its or their obligations under this Agreement, the remaining Initial Purchasers shall be obligated severally to take up and pay for (in the respective proportions which the
principal amount of Securities set forth opposite their names in Schedule I hereto bears to the aggregate principal amount of Securities set forth opposite the names of all the remaining Initial Purchasers) the Securities which the defaulting
Initial Purchaser or Initial Purchasers agreed but failed to purchase; provided, however, that in the event that the aggregate principal amount of Securities which the defaulting Initial Purchaser or Initial Purchasers agreed but
failed to purchase shall exceed 10% of the aggregate principal amount of Securities set forth in Schedule I hereto, the remaining Initial Purchasers shall have the right to purchase all, but shall not be under any obligation to purchase any, of
the Securities, and if such nondefaulting Initial Purchasers do not purchase all the Securities, this Agreement will terminate without liability to any nondefaulting Initial Purchaser or the Company. In the event of a default by any Initial
Purchaser as set forth in this Section 9, the Closing Date shall be postponed for such period, not exceeding five Business Days, as the Representative shall determine in order that the required changes in the Final Memorandum or in any other
documents or arrangements may be effected. Nothing contained in this Agreement shall relieve any defaulting Initial Purchaser of its liability, if any, to the Company or any nondefaulting Initial Purchaser for damages occasioned by its default
hereunder. 
 10. Termination. This Agreement shall be subject to termination in the absolute discretion of the
Representative, by notice given to the Company prior to delivery of and payment for the Securities, if at any time prior to such time (i) trading in securities generally on the New York Stock Exchange or NASDAQ shall have been suspended or
limited or minimum prices shall have been established on such exchange; (ii) a banking moratorium shall have been declared either by U.S. federal, New York, Delaware or Oklahoma State authorities; or (iii) there shall have occurred any
outbreak or escalation of hostilities, declaration by the United States of a national emergency or war or other calamity or crisis the effect of which on financial markets is such as to make it, in the sole judgment of the Representative,
impractical or inadvisable to proceed with the offering or delivery of the Securities as contemplated in the Disclosure Package and the Final Memorandum (exclusive of any amendment or supplement thereto). 

11. Representations and Indemnities to Survive. The respective agreements, representations, warranties, indemnities and other
statements of the Company or its officers and of the Initial Purchasers set forth in or made pursuant to this Agreement will remain in full force 

  
 21 

 
and effect, regardless of any investigation made by or on behalf of the Initial Purchasers or the Company or any of the indemnified persons referred to in Section 8 hereof, and will survive
delivery of and payment for the Securities. The provisions of Sections 7 and 8 hereof shall survive the termination or cancellation of this Agreement. 
 12. Notices. All communications hereunder will be in writing and effective only on receipt, and, if sent to the Representative, will be mailed, delivered or telefaxed to the Citigroup General
Counsel (fax no.: (212) 816-7912) and confirmed to Citigroup at 388 Greenwich Street, New York, New York 10013, Attention: General Counsel; or, if sent to the Company, will be mailed, delivered or telefaxed to (918) 524-8687 and confirmed
to it at Two Warren Place, 6120 S. Yale Avenue, Suite 700, Tulsa, OK 74136-4216, attention of General Counsel. 
 13.
Successors. This Agreement will inure to the benefit of and be binding upon the parties hereto and their respective successors and the indemnified persons referred to in Section 8 hereof and their respective successors, and, except as
expressly set forth in Section 5(k) hereof, no other person will have any right or obligation hereunder. The term “successors” shall not include any subsequent purchaser of any Securities from any Initial Purchaser merely by reason of
such purchase. 
 14. Jurisdiction. The parties hereto agree that any suit, action or proceeding arising out of or based
upon this Agreement or the transactions contemplated hereby shall be instituted in any State or U.S. federal court in The City of New York and County of New York, and waive any objection which they may now or hereafter have to the laying of venue of
any such proceeding, and irrevocably submit to the exclusive jurisdiction of such courts in any suit, action or proceeding. 

15. Integration. This Agreement supersedes all prior agreements and understandings (whether written or oral) between the Company
and the Initial Purchasers, or any of them, with respect to the subject matter hereof. 
 16. Applicable Law. This
Agreement will be governed by and construed in accordance with the laws of the State of New York applicable to contracts made and to be performed within the State of New York. 
 17. Waiver of Jury Trial. The Company hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or
relating to this Agreement or the transactions contemplated hereby. 
 18. No Fiduciary Duty. The Company hereby
acknowledges that (a) the purchase and sale of the Securities pursuant to this Agreement is an arm’s-length commercial transaction between the Company, on the one hand, and the Initial Purchasers and any Affiliate through which it may be
acting, on the other, (b) the Initial Purchasers are acting as principal and not as an agent or fiduciary of the Company and (c) the Company’s engagement of the Initial Purchasers in connection with the offering of the Securities and
the process leading up to such offering is as independent contractors and not in any other capacity. Furthermore, the Company agrees that it is solely responsible for making its own judgments in connection with such offering

  
 22 

 
(irrespective of whether any of the Initial Purchasers has advised or is currently advising the Company on related or other matters). The Company agrees that it will not claim that the Initial
Purchasers have rendered advisory services of any nature or respect, or owe an agency, fiduciary or similar duty to the Company, in connection with such transaction or the process leading thereto. 

19. Counterparts. This Agreement may be signed in one or more counterparts, each of which shall constitute an original and all of
which together shall constitute one and the same agreement. 
 20. Headings. The section headings used herein are for
convenience only and shall not affect the construction hereof. 
 21. Definitions. The terms that follow, when used in
this Agreement, shall have the meanings indicated. 
 “Act” shall mean the Securities Act of 1933, as amended,
and the rules and regulations of the Commission promulgated thereunder. 
 “Affiliate” shall have the meaning
specified in Rule 501(b) of Regulation D. 
 “Business Day” shall mean any day other than a Saturday,
a Sunday or a legal holiday or a day on which banking institutions or trust companies are authorized or obligated by law to close in The City of New York. 
 “Citigroup” shall mean Citigroup Global Markets Inc. 

“Code” shall mean the Internal Revenue Code of 1986, as amended. 

“Commission” shall mean the Securities and Exchange Commission. 

“Disclosure Package” shall mean (i) the Preliminary Memorandum, as amended or supplemented at the Execution Time,
(ii) the final term sheet prepared pursuant to Section 5(b) hereto and in the form attached as Schedule II hereto and (iii) any Issuer Written Information. 
 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder. 

“Execution Time” shall mean the date and time that this Agreement is executed and delivered by the parties hereto.

 “Investment Company Act” shall mean the Investment Company Act of 1940, as amended, and the rules and
regulations of the Commission promulgated thereunder. 
 “Issuer Written Information” shall mean any writings
in addition to the Preliminary Memorandum that the parties expressly agree in writing to treat as part of the Disclosure Package. 

  
 23 

 “Regulation D” shall mean Regulation D under the Act. 

“Regulation S” shall mean Regulation S under the Act. 

“Regulation S-X” shall mean Regulation S-X under the Act. 

“Trust Indenture Act” shall mean the Trust Indenture Act of 1939, as amended, and the rules and regulations of the
Commission promulgated thereunder. 
 If the foregoing is in accordance with your understanding of our agreement, please sign
and return to us the enclosed duplicate hereof, whereupon this letter and your acceptance shall represent a binding agreement between the Company, the Guarantors and the several Initial Purchasers. 

[Signature pages follow] 

  
 24 

 
			
	 Very truly yours,
  

SemGroup Corporation

		
	By:	 	/s/ Norman J. Szydlowski
		 	Name: Norman J. Szydlowski
		 	Title: Chief Executive Officer
	
	 SemGas, L.P.

SemCanada, L.P.
 SemCanada II, L.P.

SemMaterials, L.P.
 SemStream,
L.P.

		
		 	 By: SemOperating G.P., L.L.C., each
 such Guarantor’s General Partner

		
	By:	 	/s/ Norman J. Szydlowski
		 	Name: Norman J. Szydlowski
		 	Title: Chief Executive Officer
	
	 SemGroup Europe Holding, L.L.C.
 SemOperating G.P., L.L.C.
 SemMexico, L.L.C.

		
	By:	 	/s/ Norman J. Szydlowski
		 	Name: Norman J. Szydlowski
		 	Title: Chief Executive Officer
	
	 SemDevelopment, L.L.C.
 Rose Rock Midstream Holdings, LLC

		
	By:	 	/s/ Norman J. Szydlowski
		 	Name: Norman J. Szydlowski
		 	Title: President and Chief Executive Officer

  
 [SemGroup
Purchase Agreement] 

 
			
	 Wattenberg Holding, LLC
 Glass Mountain Holding, LLC

		
		 	 By: SemDevelopment, L.L.C., each

such Guarantor’s sole member and manager

		
	By:	 	/s/ Norman J. Szydlowski
		 	Name: Norman J. Szydlowski
		 	Title: President and Chief Executive Officer

  
 [SemGroup
Purchase Agreement] 

			
	 The foregoing Agreement is hereby
 confirmed and accepted as of the
 date first above written.

 
 Citigroup Global Markets Inc.

		
	By:	 	/s/ Chris Abbate
		 	Name: Chris Abbate
		 	Title: Managing Director
	
	 For itself and the other several Initial
 Purchasers named in Schedule I to the
 foregoing Agreement.

  
 [SemGroup
Purchase Agreement] 

 SCHEDULE I 

 

					
	 Initial Purchasers
	  	Principal Amount
of Securities to be
Purchased	 
	 Citigroup Global Markets Inc.
	  	$	72,000,000	  
	 Deutsche Bank Securities Inc.
	  	 	37,500,000	  
	 Scotia Capital (USA) Inc.
	  	 	37,500,000	  
	 BMO Capital Markets Corp.
	  	 	30,000,000	  
	 RBC Capital Markets, LLC
	  	 	30,000,000	  
	 RBS Securities Inc.
	  	 	30,000,000	  
	 UBS Securities LLC
	  	 	30,000,000	  
	 ABN AMRO Securities (USA) LLC
	  	 	18,000,000	  
	 Credit Agricole Securities (USA) Inc.
	  	 	15,000,000	  
	 Total
	  	$	300,000,000	  

  
 I-1

 SCHEDULE II 
 [See attached] 

  
 II-1

			
	PRICING SUPPLEMENT	  	STRICTLY CONFIDENTIAL        

 $300,000,000 
 SemGroup Corporation 
 7.50% Senior Notes due 2021 

June 7, 2013         
 Pricing Supplement dated June 7, 2013 to Preliminary Offering Memorandum dated June 3, 2013 of SEMGROUP CORPORATION. 
 This Pricing Supplement is qualified in its entirety by reference to the Preliminary Offering Memorandum. Capitalized terms used below have the meanings given in the Preliminary Offering Memorandum.

 The information in this Pricing Supplement supplements the Preliminary Offering Memorandum and supersedes the information in the Preliminary
Offering Memorandum to the extent inconsistent with the information in the Preliminary Offering Memorandum. 
 The notes have not been
registered under the Securities Act of 1933 and are being offered only to (1) “qualified institutional buyers” as defined in Rule 144A under the Securities Act and (2) outside the United States to non-U.S. persons in compliance
with Regulation S under the Securities Act. 
  

					
		  	Principal Amount:	  	$300,000,000
		  	  
 Title of Securities:
	  	  
 7.50% Senior Notes due 2021

		  	  
 Final Maturity Date:
	  	  
 June 15, 2021

		  	  
 Issue Price:
	  	  
 100.00%, plus accrued interest from the issue
date

		  	  
 Coupon:
	  	  
 7.50%

		  	  
 Yield to Maturity:
	  	  
 7.50%

		  	  
 Record Dates:
	  	  
 June 1 and December 1

		  	  
 Interest Payment Dates:
	  	  
 June 15 and December 15

		  	  
 First Interest Payment Date:
	  	  
 December 15, 2013

		  	  
 Trade Date:
	  	  
 June 7, 2013

		  	  
 Settlement Date:
	  	  
 June 14, 2013 (T+5)

		  	  
 Optional Redemption:
	  	  
 Schedule of Redemption Prices

 
 Except as described below, the notes are not redeemable at the Company’s option
prior to June 15, 2016. On and after such date, the Company may redeem the notes, in whole or in part, upon not less than 15 nor more than 60 days’ prior notice, at the following redemption prices (expressed as a percentage of principal
amount), plus accrued and unpaid interest thereon to, but not including, the applicable redemption date, subject to the right of holders of record on the relevant record date to receive interest due on the relevant interest payment date, if redeemed
during the 12-month period beginning on June 15 of the years indicated below:

  

							
	Year	  	Percentage	 	 	 
	 2016
	  	 	105.625	% 	 
	 2017
	  	 	103.750	% 	 
	 2018
	  	 	101.875	% 	 
	 2019 and thereafter
	  	 	100.000	% 	 

  

  
 1 

 This Pricing Supplement is qualified in its entirety by reference to the

 Preliminary Offering Memorandum dated June 3, 2013 

 
  

					
		  		  	 Make Whole
  

In addition, before June 15, 2016, the Company may redeem all or a part of the notes, upon not less than 15 nor more than 60 days’ prior notice,
at a redemption price equal to:
  

•     100% of the principal amount of notes redeemed, plus

 

•      the Applicable Premium as of, and accrued and unpaid interest to, the
redemption date, subject to the rights of holders on the relevant record date to receive interest due on the relevant interest payment date.
  

“Applicable Premium” means, with respect to any note on any redemption date, the greater of (A) 1.00% of the principal
amount of such note and (B) the excess, if any, of (1) the present value at such redemption date of (a) the redemption price of such note at June 15, 2016 plus (b) all required interest payments due on such note through
June 15, 2016 (excluding accrued but unpaid interest to the redemption date), computed using a discount rate equal to the Treasury Rate as of such redemption date plus 50 basis points, over (2) the aggregate principal amount of
such note.
  
 “Treasury Rate” means, as of any
redemption date, the yield to maturity as of the earlier of (a) such redemption date or (b) the date on which such notes are defeased or satisfied and discharged, of United States of America Treasury securities with a constant maturity (as compiled
and published in the most recent Federal Reserve Statistical Release H.15 (519) that has become publicly available at least two Business Days prior to such date (or, if such Statistical Release is no longer published, any publicly available source
of similar market data)) most nearly equal to the period form the redemption date to June 15, 2016; provided, however, that if the period from the redemption date to June 15, 2016, is less than one year, the weekly average
yield on actually traded United States of America Treasury securities adjusted to a constant maturity of one year will be used.

			
		  		  	 Equity Offerings
  

Before June 15, 2016, the Company may, on one or more occasions, redeem up to 35% of the sum of the original aggregate principal amount of notes (and
the original principal amount of any Additional Notes) issued under the Indenture at a redemption price equal to 107.500% of the aggregate principal amount thereof, plus accrued and unpaid interest thereon to, but not including, the
redemption date, subject to the right of holders of record on the relevant record date to receive interest due on the relevant interest payment date, with the net cash proceeds of one or more Equity Offerings of the Company or any direct or indirect
parent of the Company to the extent such net proceeds are contributed to the Company; provided that:
  

  
 2 

 This Pricing Supplement is qualified in its entirety by reference to the

 Preliminary Offering Memorandum dated June 3, 2013 

 
  

					
		  		  	 (1) at least 65% of the sum of the aggregate principal amount of notes originally issued under
the Indenture and the original principal amount of any Additional Notes issued under the Indenture remain outstanding immediately after the occurrence of each such redemption; and

 
 (2) each such redemption occurs within 90
days of the date of closing of each such Equity Offering.

			
		  	Distribution:	  	144A and Regulation S with registration rights as set forth in the Preliminary Offering Memorandum.
			
		  	Use of Proceeds:	  	The Company plans to use the net proceeds from the offering to fund a portion of the Acquisition and to repay amounts borrowed under its revolving credit facility. If, for any
reason, the Acquisition does not close, the net proceeds will be used for general corporate purposes, including capital expenditures.
			
		  	Joint Book-Running Managers:	  	 Citigroup Global Markets Inc.

Deutsche Bank Securities Inc.
 Scotia Capital
(USA) Inc.
 BMO Capital Markets Corp.

RBC Capital Markets, LLC
 RBS Securities
Inc.
 UBS Securities LLC

			
		  	Co-Managers:	  	 ABN AMRO Securities (USA) LLC

Credit Agricole Securities (USA) Inc.

			
		  	CUSIP:	  	 144A: 81663A AA3
 Reg S: U81569
AA0

			
		  	ISIN:	  	 144A: US81663AA34
 Reg S:
USU81569AA04

 This material is confidential and is for your information only and is not intended to be used by anyone other than
you. This information does not purport to be a complete description of these securities or the offering. Please refer to the Preliminary Offering Memorandum for a complete description. 
 This communication is being distributed in the United States solely to qualified institutional buyers, as defined in Rule 144A under the Securities Act, and outside the United States solely to non-U.S.
persons as defined under Regulation S in accordance with the applicable provisions of Regulation S. 
 This communication does not
constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make such offer or solicitation in such jurisdiction. 

 

  
 3 

 ANNEX A 

Significant Subsidiaries 

SemCanada, L.P., an Oklahoma limited partnership 
 SemStream, L.P., a Delaware limited partnership 
 Rose Rock Midstream Holdings, LLC, a Delaware
limited liability company 
 Rose Rock Midstream, L.P., a Delaware limited partnership 
 Rose Rock Midstream Operating, LLC, a Delaware limited liability company 
 Rose Rock Midstream
Crude, L.P., a Delaware limited partnership 

  
 A-1

 EXHIBIT A-1 

Form of Opinion of Conner & Winters, LLP 
  

	(i)	Assuming the accuracy of the representations and warranties and compliance with the agreements and covenants contained in the Purchase Agreement, no registration under
the Act of the Securities, and no qualification of an indenture under the Trust Indenture Act with respect thereto, are required in connection with the purchase of the Securities by the Initial Purchasers or the initial offer and sale by the Initial
Purchasers of the Securities in the manner contemplated in the Purchase Agreement, in the Disclosure Package and in the Final Memorandum, other than any registration or qualification that may be required in connection with an exchange offer
contemplated by the Disclosure Package and the Final Memorandum or in connection with the Registration Rights Agreement. We express no opinion, however, as to when or under what circumstances any Securities initially sold by the Initial Purchasers
may be reoffered or resold. 

  

	(ii)	To our knowledge and except as set forth or contemplated in the Disclosure Package and the Final Memorandum, there is no pending or threatened action, suit or
proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any of the Guarantors or its or their property that, if the subject of an unfavorable decision, ruling or finding would,
individually or in the aggregate, have a Material Adverse Effect. 

  

	(iii)	The statements in the Preliminary Memorandum and the Final Memorandum under the heading “Certain United States Federal Income Tax Considerations,” insofar as
such statements constitute matters of law or summaries of legal matters, fairly summarize the matters therein described in all material respects. 

  

	(iv)	Each of the Company and the Guarantors has been duly incorporated or formed, as applicable, and is validly existing and in good standing under the laws of the
jurisdiction in which it is chartered or organized, with all requisite power and authority to own or lease, as the case may be, and to operate its properties and conduct its business as described in the Disclosure Package and the Final Memorandum.
Each of the Company and the Guarantors is duly qualified to do business as a foreign corporation, foreign limited liability company or foreign limited partnership, as applicable, and is in good standing under the laws of each jurisdiction which
requires such qualification, except for such jurisdictions where the failure to be so qualified or to be in good standing would not, individually or in the aggregate, result in a Material Adverse Effect. 

  
 A-1-1

	(v)	All the outstanding shares of capital stock, membership interests, limited and general partner interests and other ownership interests, as applicable, of the Company
and each Guarantor have been duly authorized and validly issued and, with respect to the Company and each Guarantor that is a corporation, are fully paid and nonassessable, and, except as otherwise set forth in the Disclosure Package and the Final
Memorandum, all such ownership interests of each Guarantor are owned by the Company either directly or through wholly owned subsidiaries free and clear of any perfected security interest and, to our knowledge, any other security interest, claim,
lien or encumbrance. 

  

	(vi)	None of the execution and delivery of the Indenture, the Registration Rights Agreement or the Purchase Agreement by the Company and the Guarantors, the issuance and
sale of the Securities or the consummation of any other of the transactions contemplated therein (other than performance under the indemnification sections of the Purchase Agreement and the Registration Rights Agreement, as to which no opinion is
herein rendered): (i) will result in any violation of the provisions of the charter, by-laws or comparable constituent documents of the Company or any Guarantor; (ii) will constitute a default under, or result in the creation or imposition
of any lien, charge or encumbrance upon any property or assets of the Company or any of the Guarantors pursuant to the agreements and instruments listed on Exhibit A hereto; or (iii) will result in any violation of any statute, law,
rule, regulation or administrative regulation applicable to the Company or any Guarantor which in our experience would normally apply to transactions of the type contemplated by the Indenture, the Registration Right Agreement or the Purchase
Agreement or any administrative or court judgment, order or decree known to us applicable to the Company or any Guarantor, except, in the case of clauses (ii) and (iii) above, for such breaches, violations, liens, charges or encumbrances
as would not, individually or in the aggregate, have a Material Adverse Effect. 

  

	(vii)	The Purchase Agreement has been duly authorized, executed and delivered by the Company and each of the Guarantors. 

 

	(viii)	The Indenture has been duly authorized, executed and delivered by the Company and each of the Guarantors. 

 

	(ix)	The Notes have been duly authorized by the Company. 

  

	(x)	The Guarantees have been duly authorized by the Guarantors. 

  
 A-1-2

	(xi)	The Registration Rights Agreement has been duly authorized, executed and delivered by the Company and each of the Guarantors. 

 

	(xii)	The statements in the Preliminary Memorandum and Final Memorandum under the heading “Exchange Offer; Registration Rights,” insofar as such statements purport
to summarize certain provisions of the Registration Rights Agreement, fairly summarize such provisions in all material respects. 

  

	(xiii)	Assuming the accuracy of the representations and warranties and compliance with the agreements and covenants contained in the Purchase Agreement, no consent, approval,
authorization, filing with or order of any court or governmental agency or body, other than such consents, approvals, authorizations, filings or orders that have been obtained or made, is required in connection with the transactions contemplated
under the Purchase Agreement, the Indenture or the Registration Rights Agreement, except such as may be required under the Exchange Act, state securities or blue sky laws or any other securities laws of any jurisdiction in which the Securities are
offered or sold and, in the case of the Registration Rights Agreement, such as will be obtained under the Act and the Trust Indenture Act (it being understood that we express no opinion with respect to such securities law requirements beyond that
set forth in paragraph (i) above). 

  
 A-1-3

 Form of Negative Assurance Letter of Conner & Winters, LLP 

June 14, 2013 
 Citigroup
Global Markets Inc. 
   As Representative of the Initial Purchasers 
 c/o Citigroup Global Markets Inc. 
 388 Greenwich Street 

New York, New York 10013 
 Ladies and Gentlemen:

 We have acted as counsel to SemGroup Corporation, a Delaware corporation (the “Company”), and to SemOperating
G.P., L.L.C., an Oklahoma limited liability company, SemGroup Europe Holding, L.L.C., a Delaware limited liability company, SemDevelopment, L.L.C., a Delaware limited liability company, SemGas, L.P., an Oklahoma limited partnership, SemCanada, L.P.,
an Oklahoma limited partnership, SemCanada II, L.P., an Oklahoma limited partnership, SemMaterials, L.P., an Oklahoma limited partnership, SemStream, L.P., a Delaware limited partnership, SemMexico, L.L.C., an Oklahoma limited liability company,
Rose Rock Midstream Holdings, LLC, a Delaware limited liability company, Wattenberg Holding, LLC, an Oklahoma limited liability company, and Glass Mountain Holding, LLC, an Oklahoma limited liability company (the “Guarantors”), in
connection with the sale on the date hereof of $300,000,000 principal amount of 7.50% Senior Notes due 2021 of the Company (the “Notes”) to the several initial purchasers (the “Initial Purchasers”) named in Schedule
I to that certain Purchase Agreement dated as of June 7, 2013 among the Company, the Guarantors and you as the Representative of the Initial Purchasers (the “Purchase Agreement”). 

This letter is furnished to you pursuant to Section 6(a)(i) of the Purchase Agreement. Except as otherwise provided herein,
capitalized terms used herein but not otherwise defined herein shall have the meanings set forth in the Purchase Agreement. 

We have participated in conferences with officers and other representatives of the Company, representatives of the independent registered
public accountants for the Company and with representatives of the Initial Purchasers at which the contents of the Disclosure Package and the Final Memorandum and related matters were discussed and, although we are not passing upon and do not assume
any responsibility for the accuracy, completeness or fairness of the statements contained in the Disclosure Package or the Final Memorandum (other than as specified in paragraphs (iii) and (xii) of our opinion being delivered to you on the
date hereof), on the basis of the foregoing, nothing has come to our attention which would lead us to believe that the Disclosure Package, as of the first time when sales of the Securities are made, or that the Final Memorandum, as of its date or at
the Closing Date, contained or contains an untrue statement of a material fact or omitted or omits to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not
misleading (it being understood that we express no opinion or belief as to the content of the financial statements or other financial data derived therefrom or assessments of or reports on the effectiveness of internal control over financial
reporting included in the Disclosure Package or the Final Memorandum or any amendments or supplements thereto). 

  
 A-1-4

 We are furnishing this letter to you pursuant to the Purchase Agreement. It is for the sole
benefit of and may only be relied upon by you and the Initial Purchasers and your counsel, and it is not to be quoted in whole or in part or otherwise referred to, nor is it to be filed with or delivered or communicated to any government agency or
any other person, without our prior written consent. 
 Very truly yours, 

  
 A-1-5

 EXHIBIT A-2 

Form of Opinion of Gibson Dunn & Crutcher LLP 
 1. The Indenture constitutes a legal, valid and binding obligation of the Company and the Guarantors, enforceable against the Company and the Guarantors in accordance with its terms. 

2. The Notes, when executed and authenticated in accordance with the provisions of the Indenture and delivered to and paid for by the
Initial Purchasers in accordance with the terms of the Purchase Agreement, will be legal, valid and binding obligations of the Company, enforceable against the Company in accordance with their terms. 

3. When the Notes and the Guarantees endorsed thereon have been duly executed and authenticated in accordance with the provisions of the
Indenture and delivered to and paid for by the Initial Purchasers in accordance with the terms of the Purchase Agreement, the Guarantee of each Guarantor will be a legal, valid and binding obligation of such Guarantor, enforceable against such
Guarantor in accordance with its terms. 
 4. The execution and delivery by the Company and the Guarantors of the Closing Date
Note Documents to which it is a party, the performance of its obligations thereunder, and the issuance by the Company and the Guarantors of the Notes and the Guarantees to the Initial Purchasers, do not and will not (A) result in a breach of or
default under or (B) result in or require the creation or imposition of any lien or encumbrance upon any assets of such obligor under any agreement listed on Annex B. 

5. The Company is not and, after giving effect to the sale of the Notes and the use of proceeds therefrom as described in the Offering
Memorandum, dated June 7, 2013, issued in connection with the offer and sale of the Notes (the “Offering Memorandum”), will not be an “investment company” that is required to be registered under the Investment Company
Act of 1940, as amended (the “Investment Company Act”). For purposes of this paragraph 5, the term “investment company” has the meanings ascribed to such term in the Investment Company Act. 

6. Insofar as the statements in the Offering Memorandum under the caption “Description of the Notes” purport to describe
specific provisions of the Notes or the other Closing Date Note Documents, such statements present in all material respects an accurate summary of such provisions. 
 7. To the extent that the statements in the Offering Memorandum under the caption “Description of Other Indebtedness—SemGroup Credit Agreement” and “Description of Other
Indebtedness—Rose Rock Credit Agreement,” purport to describe specific provisions of the SemGroup Credit Agreement (as defined on Annex B) and Rose Rock Credit Agreement (as defined on Annex B), respectively, such statements present in all
material respects an accurate summary of such provisions. 

  
 A-2-1

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