Document:

EX-4.1

 Exhibit 4.1 
 CERTIFICATE OF DESIGNATION OF 
 THE POWERS, PREFERENCES AND RELATIVE,
PARTICIPATING, 
 OPTIONAL, AND OTHER SPECIAL RIGHTS AND 

QUALIFICATIONS, LIMITATIONS AND RESTRICTIONS THEREOF 
 OF 
 CLASS D CONVERTIBLE PREFERRED UNITS 

ATLAS PIPELINE PARTNERS, L.P., a Delaware limited partnership (the “Partnership”), pursuant to the provisions of
the Delaware Revised Uniform Limited Partnership Act and its Limited Partnership Agreement, does hereby state and certify that, pursuant to the authority expressly vested in ATLAS PIPELINE PARTNERS GP, LLC, its general partner (the
“General Partner”), the General Partner duly adopted the following resolution, which remains in full force and effect as of the date hereof: 
 RESOLVED, that the Certificate of Designation of the Class D Convertible Preferred Units of the Partnership dated as of May 7, 2013 (this “Certificate of Designation”)
be and hereby is adopted as follows: 
 1. Designation. There is hereby created a series of units designated as
the “Class D Convertible Preferred Units” (the “Preferred Units”). The number of Preferred Units shall be 13,445,383 and the face value of each Preferred Unit shall be the Execution Date Unit Price (the
“Face Value”). 
 2. Definitions. For purposes of this Certificate of Designation, the
following terms have the meanings ascribed to them below. Capitalized terms used herein without definition have the meanings ascribed to such terms in the Limited Partnership Agreement. 

“Annualized Preferred Yield” means the calculation of (x) the then current distribution amount per Quarter
per Common Unit multiplied by four (4), divided by the Distribution VWAP, plus (y): 
 (i) 0.50% with respect to the first and
second full Quarters following issuance of the Preferred Units and the partial Quarter immediately following issuance of the Preferred Units (which partial Quarter will be the Quarter ending June 30, 2013 and with the distribution for such
partial Quarter apportioned for the number of days in such partial Quarter that the Preferred Units are outstanding); 
 (ii)
1.00% with respect to the third and fourth full Quarters following issuance of the Preferred Units; 
 (iii) 1.50% with respect
to the fifth and sixth full Quarters following issuance of the Preferred Units; and 
 (iv) 2.00% with respect to each Quarter
thereafter. 
 “Certificate of Designation” has the meaning assigned to it in the recitals hereof.

 “Conversion Agent” means such bank, trust company or other Person
(including the General Partner or one of its Affiliates) as shall be appointed from time to time by the General Partner or the Partnership to act as conversion agent for the Preferred Units; provided, that if no Conversion Agent is
specifically designated for the Preferred Units, the General Partner shall act in such capacity. 
 “Conversion
Rate” has the meaning assigned to it in Section 7 hereof. 
 “Distribution Payment
Date” has the meaning assigned to it in Section 3 hereof. 
 “Distribution Rate”
means, for each Preferred Unit, an amount equal to (a) the Premium Preferred Distribution, multiplied by (b) the number of Common Units into which the Preferred Unit is convertible on the applicable Record Date. 

“Distribution VWAP” for any particular distribution means the volume-weighted average closing price of the Common
Units on the principal market on which the Common Units are then traded during the ten (10) Trading Days prior to the Record Date establishing the Common Units entitled to receive such distribution. 

“Execution Date Unit Price” means $29.75. 

“Expiration Date” has the meaning assigned to it in Section 9(d) hereof. 

“Ex-distribution Date” is the first date upon which a sale of Common Units that will settle regular way (T+3)
will not transfer the right to receive the relevant issuance or distribution from the seller of Common Units to its buyer. 

“Face Value” has the meaning assigned to it in Section 1 hereof. 

“Fair Market Value” of property means the amount that a willing buyer would pay a willing seller in an
arm’s-length transaction of such property, unless otherwise stated, as determined in good faith by the Partnership. 

“General Partner” has the meaning assigned to it in the recitals hereof. 

“Holder” means the Person in whose name Preferred Units are registered, which the Partnership and the Conversion
Agent shall deem to be the owner of such Preferred Units for the purpose of making distributions on, and settling conversions of, as well as for other purposes relating to, such Preferred Units. 

“Junior Units” means interests in the Partnership that, with respect to distributions on such interests and
distributions upon liquidation of the Partnership, rank junior to the Preferred Units, including but not limited to the Common Units. “Junior Units” do not include Incentive Distribution Rights. 

“Limited Partnership Agreement” means the Second Amended and Restated Agreement of Limited Partnership of the
Partnership dated as of March 9, 2004, as amended from time to time. 

  
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 “Liquidation Value” has the meaning assigned to it in Section 4
hereof. 
 “Mandatory Conversion Date” means May 7, 2015. 

“Market Disruption Event” means the occurrence or existence for more than one-half hour in the aggregate on any
Scheduled Trading Day for the Common Units of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the New York Stock Exchange or otherwise) or quoting, if applicable, in the Common Units or
in any options, contracts or future contracts relating to the Common Units and such suspension or limitation occurs or exists at any time before 1:00 p.m., New York City time, on such day. 

“Officer” means any of the Chief Executive Officer, the President, the Chief Operating Officer, the Chief
Financial Officer, any Vice President, the Treasurer, any Assistant Treasurer, the Controller, any Assistant Controller, the Secretary or any Assistant Secretary of the General Partner. 

“Partnership” has the meaning assigned to it in the recitals hereof. 

“Partnership Optional Conversion Date” has the meaning assigned to it in Section 8(a) hereof. 

“Preferred PIK Distributions” has the meaning assigned to it in Section 3 hereof. 

“Preferred Cash Distributions” has the meaning assigned to it in Section 3 hereof. 

“Preferred Distributions” has the meaning assigned to it in Section 3 hereof. 

“Premium Preferred Distribution” means the product of the Annualized Preferred Yield multiplied by the VWAP
Factor. 
 “Purchase Agreement” has the meaning assigned to it in Section 5 hereof. 

“Record Date” means (i) with respect to distributions on Common Units or Preferred Units, the date
established by the General Partner prior to any Distribution Payment Date on which a holder of Common Units or Preferred Units, as the case may be, must be a holder on the books of the Partnership to receive the applicable distribution, and
(ii) with respect to any distribution on Common Units where, or other transaction or event in which, the holders of Common Units have the right to receive any cash, security or other property, or transaction or event in which Common Units are
exchanged for or converted into any combination of cash, securities or other property, the date fixed for determination of holders of Common Units entitled to receive such cash, securities or other property (whether such date is fixed by the General
Partner or by statute, contract or otherwise). Such Record Date shall apply regardless of whether a particular Record Date is a Business Day. 
 “Reference Property” has the meaning assigned to it in Section 11(a) hereof. 
 “Reorganization Event” has the meaning assigned to it in Section 11(a) hereof. 

  
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 “Reorganization Event Conversion” has the meaning assigned to it in
Section 10 hereof. 
 “Reorganization Event Conversion Date” has the meaning assigned to it in
Section 10 hereof. 
 “Scheduled Trading Day” means any day that is scheduled to be a Trading Day
on the principal U.S. national or regional securities exchange or market on which Common Units are listed or admitted for trading or, if Common Units are not listed or admitted for trading on any U.S. national or regional securities exchange or
market, a Business Day. 
 “Spin-off” has the meaning assigned to it in Section 9(c) hereof.

 “Tender Offer Valuation Period” has the meaning assigned to it in Section 9(c) hereof.

 “Trading Day” means any day on which (i) there is no Market Disruption Event and
(ii) (x) the New York Stock Exchange is open for trading, or, if the Common Units are not listed on the New York Stock Exchange, the principal U.S. national or regional securities exchange on which the Common Units are listed is open for
trading, (y) if the Common Units are not traded on a U.S. national or regional securities exchange but are quoted on the over-the-counter market by Pink OTC Markets Inc. or a similar organization, Pink OTC Markets Inc. or such similar
organization, as applicable, is open for quoting or (z) if the Common Units are not traded on a U.S. national or regional securities exchange nor quoted by Pink OTC Markets Inc. or a similar organization, such day is a Business Day. A
“Trading Day” only includes those days that have a scheduled closing time of 4:00 p.m., New York City time, or the then standard closing time for regular trading on the relevant exchange or trading system or, if applicable,
regular quoting on the relevant quotation system. 
 “Valuation Period” has the meaning assigned to it
in Section 9(c) hereof. 
 “Voting Stock” of any person as of any date
means the equity interests of such person pursuant to which the holders thereof have the general voting power under ordinary circumstances to elect at least a majority of the board of directors, managers, general partners or trustees of such person
(regardless of whether, at the time, equity interests of any other class or classes shall have, or might have, voting power by reason of the occurrence of any contingency) or, with respect to a partnership (whether general or limited), any general
partner interest in such partnership. 
 “VWAP Factor” means the Distribution VWAP divided by four (4).

 3. Distributions; Allocations. With respect to the first four full Quarters following the date hereof, and the
partial Quarter immediately following the date hereof (which partial Quarter will be the Quarter ending June 30, 2013), a Holder shall be entitled to receive on any Distribution Payment Date, distributions payable in a number of additional
Preferred Units equal to (i) the Distribution Rate divided by the Distribution VWAP, multiplied by (ii) the number of Preferred Units held by such Holder prior to such distribution (the “Preferred PIK Distributions”). Thereafter,
a Holder shall be entitled to receive on any Distribution Payment 

  
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Date a distribution payable, in the sole discretion of the General Partner, (i) in cash in an amount equal to the Distribution Rate (“Preferred Cash Distributions”), (ii) in a
number of additional Preferred Units equal to the Preferred PIK Distribution (the Preferred PIK Distribution, together with the Preferred Cash Distributions, the “Preferred Distributions”) or (iii) any combination of Preferred PIK
Distributions and Preferred Cash Distributions that in the aggregate provides the Holder a distribution with a value in cash plus Preferred Units equal to the Distribution Rate, prior to any other distributions pursuant to Sections 6.4 or 6.5 of the
Limited Partnership Agreement in respect of Junior Units. Preferred Distributions shall be paid in any Quarter on the same date as the distribution payment date for Common Units, and the Record Dates for distributions on the Preferred Units and
Common Units shall be the same; provided, that if no distribution is paid with respect to the Common Units for any Quarter, the distribution payment date for the Preferred Units shall be set by the General Partner to be a date no later than the 45th
day following the end of such Quarter (the date distributions are paid on the Preferred Units, as set forth above, a “Distribution Payment Date”). If the Partnership fails to pay in full any Preferred Distribution (or portion thereof),
then (x) the General Partner shall cause the Partnership to pay such unpaid Preferred Distribution at such time and with such special Record Date as it may select and (y) the Partnership shall not be permitted to, and shall not, make any
distributions in respect of any Junior Units unless and until all unpaid Preferred Distributions have been paid in full. No interest shall accrue or be paid with respect to any unpaid distribution to the Holders of Preferred Units. 

4. Liquidation Value. In the event of any liquidation, dissolution or winding up of the Partnership or the sale or other
disposition of all or substantially all of the assets of the Partnership, either voluntary or involuntary, the Holders of the Preferred Units shall be entitled to receive, out of the assets of the Partnership available for distribution to unit
holders, prior and in preference to any distribution of any assets of the Partnership to the holders of any other existing or subsequently created Junior Units, an amount equal to the Face Value per Preferred Unit plus all unpaid Preferred
Distributions (collectively, the “Liquidation Value”). The foregoing shall not affect any rights which Holders of Preferred Units may have to monetary damages. 

5. Issuance of Preferred Units. The Preferred Units shall be issued by the Partnership pursuant to a Class D Preferred Unit
Purchase Agreement, dated as of April 16, 2013 (the “Purchase Agreement”), by and among the Partnership and the purchasers named therein. 
 6. Voting Rights. Except as provided herein or as a result of requirements imposed by Delaware law, the Preferred Units shall have no voting rights. The affirmative vote of at least 75% of
the outstanding Preferred Units shall be necessary for repeal of this Certificate of Designation or the Certificate of Limited Partnership or Limited Partnership Agreement or any amendment to the Limited Partnership Agreement that may adversely
affect any of the rights, preferences, obligations or privileges of the Preferred Units, except that no Holder of Preferred Units shall have any voting rights with respect to a Reorganization Event except to the extent it has converted any of its
Preferred Units to Common Units at or prior to the Record Date for Common Units to vote or consent with respect to any Reorganization Event. 

  
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 7. Conversion. 

(a) Each Preferred Unit, unless previously converted, shall automatically convert on the Mandatory Conversion Date into a number of Common
Units equal to the Liquidation Value divided by the Execution Date Unit Price (the “Conversion Rate”), subject to adjustment pursuant to Section 9 hereof. 

(b) The Partnership shall have the right to cause all, but not less than all, of the Preferred Units to convert into Common Units
at the Conversion Rate at any time beginning one year following the date hereof, subject to adjustment pursuant to Section 9 hereof. 
 (c) If a Preferred Unit conversion shall occur before a Record Date for payment of a distribution on the Common Units in respect of any completed Quarter and the Preferred Units convert into additional
Common Units (because of the increase in the Liquidation Value by virtue of the unpaid Preferred Distribution in respect of such completed Quarter), the additional Common Units issued in such conversion shall not receive the Common Unit distribution
with respect to such completed Quarter. 
 8. Conversion Procedures. 

(a) In order to exercise the right to convert Preferred Units prior to the Mandatory Conversion Date, the Partnership must: 

(1) deliver to the Holders a “Notice of Partnership Optional Conversion” (attached as Exhibit A hereto) not later than 30 days
prior to the Partnership Optional Conversion Date; and 
 (2) pay all transfer or similar taxes, if any, required under
Section 8(b). 
 The date specified in the Notice of Partnership Optional Conversion is the “Partnership Optional
Conversion Date.” 
 (b) The Partnership shall pay any documentary, stamp or similar issue or transfer taxes that
may be payable in respect of any issuance or delivery of Common Units upon conversion of Preferred Units, other than the transfer taxes payable upon the issuance of Common Units upon conversion of Preferred Units in a name or names other than that
of the Holder, which shall be paid by the converting Holder. 
 (c) Effective immediately prior to 5:00 p.m., New York City time,
on the Mandatory Conversion Date or Partnership Optional Conversion Date, distributions on the converted Preferred Units shall cease to accrue and the converted Preferred Units shall cease to be outstanding, in each case subject to the right of
Holders of such converted Preferred Units to receive the consideration issuable upon conversion which they are entitled to pursuant to Section 7 hereof. 
 (d) As of 5:00 p.m., New York City time, on the applicable Mandatory Conversion Date or Partnership Optional Conversion Date, as applicable, the issuance by the Partnership of Common Units upon conversion
of Preferred Units shall become effective and the 

  
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Person entitled to receive such Common Units shall be treated for all purposes as the record holder or holders of such Common Units. Prior to 5:00 p.m., New York City time, on the applicable
Mandatory Conversion Date or Partnership Optional Conversion Date, as the case may be, the Common Units issuable upon conversion shall be deemed not outstanding for any purpose, and Holders of Preferred Units shall have no rights with respect to the
Common Units issuable upon conversion by virtue of holding Preferred Units. 
 (e) In connection with the conversion of any
Preferred Units, no fractional Common Units shall be issued to the converting Holders. In lieu of any fractional Common Units issuable to a Holder upon conversion, the Partnership shall pay or deliver, as applicable, to the converting Holder, at its
option, either (i) a number of Common Units rounded up to the next whole number of units, or (ii) an amount in cash (computed to the nearest cent) equal to the product of the fractional Common Unit and the Closing Price of Common Units on
the Trading Day immediately preceding the Mandatory Conversion Date or Partnership Optional Conversion Date, as applicable. 

(f) If more than one Preferred Unit shall be surrendered for conversion at one time by or for the same Holder, the number of Common Units
issuable upon conversion of those Preferred Units shall be computed on the basis of the aggregate number of Preferred Units so surrendered. 
 (g) (i) With respect to any conversion of Preferred Units prior to the Mandatory Conversion Date, 
 (1) promptly following the Partnership Optional Conversion Date, the Partnership shall instruct the Conversion Agent to deliver or cause to be delivered to the converting Holder confirmation by book entry
of the whole number of Common Units issued upon conversion of such Preferred Units; and 
 (2) on the Business Day immediately
following the Partnership Optional Conversion Date, the Partnership shall deliver or cause to be delivered to the converting Holder any cash payment for any fractional units that the Partnership is obligated to pay under Section 8(e).

 (ii) With respect to the mandatory conversion of Preferred Units under Section 7(a), 

(1) promptly following the Mandatory Conversion Date, the Partnership shall instruct the Conversion Agent to deliver or cause to be
delivered to the converting Holder confirmation by book entry of the whole number of Common Units issued upon conversion of such Preferred Units, and 
 (2) on the Business Day immediately following the Mandatory Conversion Date, the Partnership shall deliver or cause to be delivered to the converting Holder any cash payment for any fractional units that
the Partnership is obligated to pay under Section 8(e). 

  
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 9. Conversion Rate Adjustments. The Conversion Rate shall be adjusted from
time to time by the Partnership in accordance with the provisions of this Section 9. 
 (a) If the Partnership issues Common
Units as a distribution to all or substantially all holders of Common Units, or if the Partnership effects a split or combination of Common Units, the Conversion Rate shall be adjusted based on the following formula: 

CR1 = CR0 × OS1 / OS0 

where, 
 CR0 = the
Conversion Rate in effect immediately prior to the adjustment relating to such event; 
 CR1 = the new Conversion Rate in effect taking such event into account;

 OS0 = the number of Common Units outstanding immediately prior to the effective time of the adjustment relating to such event;
and 
 OS1 = the number of Common Units outstanding immediately after the effective time of the adjustment relating to such event
(giving effect to such distribution, split or share combination, as applicable, as of such effective time). 
 Any adjustment
made pursuant to this Section 9(a) shall become effective immediately after 5:00 p.m., New York City time, on the Record Date or the effective date of such split or combination, as applicable. If any distribution of the type described in this
Section 9(a) is not so paid or made, or the outstanding Common Units are not split or combined, as the case may be, the new Conversion Rate shall be immediately readjusted, effective as of the date the General Partner determines not to pay such
distribution or to effect such split or combination, to the Conversion Rate that would then be in effect if such distribution, split or combination had not been announced. 
 (b) If the Partnership issues to all or substantially all holders of Common Units any rights, warrants, options or other securities entitling them to subscribe for or purchase Common Units, or if the
Partnership issues to all holders of Common Units securities convertible into Common Units, in either case at an exercise price per Common Unit or a conversion price per Common Unit less than the volume-weighted average of the Closing Prices of
Common Units over the ten consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the Ex-distribution Date for such issuance, the Conversion Rate shall be adjusted based on the following formula: 

CR1 = CR0 × (OS0 + X) / (OS0 + Y) 
 where, 
 CR0 = the Conversion Rate in effect immediately prior to the adjustment
relating to such event; 

  
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 CR1 = the new Conversion Rate in effect taking such event into account; 

OS0 = the number of Common Units outstanding immediately prior to the effective time of the adjustment relating to such event;

 X = the total number of Common Units issuable pursuant to such rights, warrants, options, convertible securities or other
securities; and 
 Y = the number of Common Units equal to the quotient of (A) the aggregate price payable to exercise such
rights, warrants, options, convertible securities or other securities and (B) the average of the Closing Prices of Common Units over the ten consecutive Trading Day period ending on, and including, the Trading Day immediately preceding the
Ex-distribution Date for such issuance. 
 Any adjustment made pursuant to this Section 9(b) shall become effective
immediately after 5:00 p.m., New York City time, on the Record Date. For purposes of this Section 9(b), in determining whether any rights, warrants, options, convertible securities or other securities entitle the holders of Common Units to
subscribe for or purchase, or exercise a conversion right for, Common Units at less than the applicable average of the Closing Prices of Common Units, and in determining the aggregate exercise or conversion price payable for such Common Units, there
shall be taken into account any consideration the Partnership receives for such rights, warrants, options, convertible securities or other securities and any amount payable on exercise or conversion thereof, with the value of such consideration, if
other than cash, to be determined by the General Partner in good faith. If any rights, warrants, options, convertible securities or other securities described in this Section 9(b) are not so issued, the Conversion Rate shall be readjusted,
effective as of the date the General Partner publicly announces its decision not to issue such rights, warrants, options, convertible securities or other securities, to the Conversion Rate that would then be in effect without such issuance. If any
rights, warrants, options, convertible securities or other securities described in this Section 9(b) are not exercised or converted prior to the expiration of the exercisability or convertibility thereof, the new Conversion Rate shall be
readjusted to the Conversion Rate that would then be in effect if the adjustments made upon the issuance of such right, warrant, option, convertible security or other securities had been made on the basis of the delivery of only the number of Common
Units actually delivered. 
 (c) (i) If the Partnership distributes evidences of its indebtedness or its other assets or
property to all or substantially all holders of Common Units, excluding: 
 (A) distributions, rights, warrants, options,
convertible securities or other securities as to which an adjustment was effected pursuant to Section 9(a) or (b) hereof, 
 (B) distributions paid exclusively in cash, and 
 (C) Spin-offs described in this
Section 9(c), 

  
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 then the Conversion Rate shall be adjusted based on the following formula: 

CR1 = CR0 × SP0 / (SP0 – FMV) 
 where, 
 CR0 = the Conversion Rate in effect immediately prior to the adjustment
relating to such event; 
 CR1 = the new Conversion Rate taking such event into account; 

SP0 = the average of the Closing Prices of Common Units over the ten consecutive Trading Day period ending on the Trading Day
immediately preceding the Ex-distribution Date for such distribution; and 
 FMV = the Fair Market Value (as determined by the
General Partner in good faith) of the evidences of indebtedness, assets or property distributed with respect to each outstanding Common Unit as of the Ex-distribution Date for such distribution. 

An adjustment to the Conversion Rate made pursuant to this Section 9(c)(i) shall be made successively whenever any such distribution
is made and shall become effective immediately after 5:00 p.m., New York City time, on the Record Date. 
 (ii) If the
Partnership distributes, to all holders of Common Units, common units of any class or series or any similar equity interest of or relating to a Subsidiary or other business unit of the Partnership, and such units or equity interests are listed for
trading on a U.S. national securities exchange (a “Spin-off”), the Conversion Rate shall be adjusted based on the following formula: 

CR1 = CR0 × (FMV0 + MP0) / MP0 

where, 
 CR0 = the
Conversion Rate in effect immediately prior to the adjustment relating to such event; 
 CR1 = the new Conversion Rate taking such event into account; 

FMV0 = the average of the Closing Prices of the equity interest distributed to holders of Common Units applicable to one Common
Unit over the first ten consecutive Trading Day period commencing on, and including, the Trading Day following the effective date of such Spin-off (such period, the “Valuation Period”); and 

MP0 = the average of the Closing Prices of Common Units over the Valuation Period. 

If the application of the foregoing formula would result in a decrease in a fixed conversion rate, no adjustment to the Conversion Rate
shall be made. An adjustment to 

  
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the Conversion Rate made pursuant to this Section 9(c)(ii) shall occur on the final Trading Day of the Valuation Period; provided, that in respect of any conversion of Preferred Units
within the ten consecutive Trading Days immediately following the date of the Spin-off, references with respect to the Spin-off to “ten consecutive Trading Day period” shall be deemed replaced with such lesser number of Trading Days as
have elapsed between the effective date of such Spin-off and the Mandatory Conversion Date or Optional Conversion Date, as applicable, in determining the Conversion Rate. 
 (iii) If any such distribution or distribution described in this Section 9(c) is not paid or made, the new Conversion Rate shall be readjusted, effective as of the date the General Partner publicly
announces its decision not to pay such distribution or distribution, to the Conversion Rate that would then be in effect without such distribution or distribution. 
 (d) If the Partnership or any Subsidiary makes a payment in respect of a tender or exchange offer for Common Units (other than a tender offer solely to holders of fewer than 100 Common Units), to the
extent that the cash and value of any other consideration included in the payment per Common Unit exceeds the average of the Closing Prices of Common Units over the ten consecutive Trading Day period commencing on the Trading Day next succeeding the
last date on which tenders or exchanges may be made pursuant to such tender or exchange offer (the “Expiration Date”), the Conversion Rate shall be adjusted based on the following formula: 

CR1 = CR0 × (AC + (SP1 × OS1)) / (SP1 × OS0) 

where, 
 CR0 = the
Conversion Rate in effect immediately prior to the adjustment relating to such event; 
 CR1 = the new Conversion Rate taking such event into account; 

AC = the Fair Market Value (as determined by the General Partner in good faith), on the Expiration Date, of the aggregate value of all
cash and any other consideration paid or payable for units accepted for purchase or exchange in such tender or exchange offer; 
 OS0 = the number
of Common Units outstanding immediately prior to the Expiration Date (prior to giving effect to such tender offer or exchange offer); 
 OS1 = the number
of Common Units outstanding immediately after the Expiration Date (after giving effect to such tender offer or exchange offer); and 
 SP1 = the
average of the Closing Prices of Common Units over the ten consecutive Trading Day period commencing on the Trading Day next succeeding the Expiration Date (such period, the “Tender Offer Valuation Period”). 

If the application of the foregoing formula would result in a decrease in the Conversion Rate, no adjustment to the Conversion Rate shall
be made. Any adjustment to the 

  
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Conversion Rate made pursuant to this Section 9(d) shall become effective immediately after 5:00 p.m., New York City time, on the final Trading Day of the Tender Offer Valuation Period;
provided, that in respect of any conversion within the ten consecutive Trading Days next succeeding the Expiration Date, references with respect to “ten consecutive Trading Day period” shall be deemed replaced with such lesser
number of Trading Days as have elapsed between the Expiration Date and the Mandatory Conversion Date, Optional Conversion Date or Reorganization Event Conversion Date, as applicable, in determining the Conversion Rate. 

If the Partnership or one of its Subsidiaries is obligated to purchase Common Units pursuant to any such tender or exchange offer, but the
Partnership, or such Subsidiary, is permanently prevented by applicable law from effecting any such purchase, or all such purchases are rescinded, then the new Conversation Rate shall be readjusted to be the Conversion Rate that would then be in
effect if such tender or exchange offer had not been made. 
 (e) Notwithstanding the provisions of this Section 9, no
adjustment to the Conversion Rate shall be made if Holders may participate in the transaction that would otherwise give rise to such adjustment on an as-converted basis and without converting their Preferred Units. 

(f) Notwithstanding the provisions of this Section 9, no adjustment to the Conversion Rate need be made if the Common Units to be
issued upon conversion will actually receive the consideration provided in, or be subject to, the transaction or event that would otherwise trigger the adjustment. 
 (g) No adjustment to the Conversion Rate shall be required unless such adjustment would require an increase or decrease of at least one percent (1%) of the Conversion Rate then in effect;
provided, that any adjustments that by reason of this Section 9(g) are not required to be made shall be carried forward and taken into account in any subsequent adjustment. All calculations under this Section 9 shall be made by the
Partnership and shall be made to the nearest cent or to the nearest one-ten thousandth (1/10,000th) of a unit, as the case may be. Notwithstanding the foregoing, all adjustments not previously made shall have effect with respect to any
conversion of Preferred Units. 
 (h) To the fullest extent permitted by law, the Partnership may (but is not required to) make
such increases in the Conversion Rate, in addition to those required by this Section 9, as the General Partner considers to be advisable to avoid or diminish any income tax to holders of Common Units or rights to purchase Common Units resulting
from any distribution or distribution of Common Units (or rights or warrants to acquire Common Unit) or from any event treated as such for income tax purposes. To the fullest extent permitted by applicable law, the Partnership from time to time may
(but is not required to) increase the Conversion Rate by any amount for any period of time if the period is at least 20 days and the increase is irrevocable during the period and the General Partner determines in good faith that such increase would
be in the best interest of the Partnership, which determination shall be conclusive. 

  
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 (i) If the Partnership shall be required to withhold taxes on constructive distributions to
a Holder and the Partnership pays the applicable withholding taxes, the Partnership may, at its option, set off any such payment against cash, Common Units or other assets distributable or payable to such Holder. 

(j) Whenever the Conversion Rate is adjusted as herein provided, the Partnership shall promptly file with the Conversion Agent an
Officer’s certificate setting forth the Conversion Rate after such adjustment and a brief statement setting forth in reasonable detail the method by which the adjustment to the Conversion Rate was determined. Unless and until a responsible
officer of the Conversion Agent shall have received such Officer’s certificate, the Conversion Agent shall not be deemed to have knowledge of any adjustment of the Conversion Rates and may assume that the last Conversion Rates of which it has
knowledge are still in effect. Promptly after delivery of such certificate, the Partnership shall prepare a notice of such adjustment of Conversion Rates setting forth the adjusted Conversion Rates and the date on which each adjustment becomes
effective and shall promptly mail such notice of adjustment of the Conversion Rate to each Holder at its last address appearing in the Unit register. Failure to deliver such notice shall not affect the legality or validity of any such adjustment.

 10. Conversion Upon Certain Reorganization Events. If an event described in Section 11(a) is anticipated
to occur in which the Partnership is not the surviving entity, then the Partnership may, at its option, cause the conversion of all, but not less than all, outstanding Preferred Units (the “Reorganization Event Conversion”).
The Reorganization Event Conversion shall occur on the effective date of such Reorganization Event (the “Reorganization Event Conversion Date”). If the Partnership exercises this option, each Holder of the Preferred Units
shall receive the Reference Property. In order for the Partnership to exercise its option for a Reorganization Event Conversion, the Partnership must provide written notice to the Holders not later than 30 days prior to the anticipated effective
date of the Reorganization Event. 
 11. Effect of Reclassification, Consolidation, Merger or Sale on Conversion.

 (a) Subject to the Partnership’s right to convert the Preferred Units under Section 10, in the event of: 

(i) any consolidation, merger or combination of the Partnership with or into another Person (other than a merger or consolidation in which
the Partnership is the continuing Partnership and in which the Common Units outstanding immediately prior to the merger or consolidation are not exchanged for cash, securities or other property of the Partnership or another Person); 

(ii) any sale, transfer, lease or conveyance of all or substantially all of the properties and assets of the Partnership to any other
person; or 
 (iii) any statutory exchange of the Partnership’s securities with another Person (other than in connection
with a merger or acquisition covered by clause (i) above), 

  
 13 

 in each case where Common Units are exchanged for, or converted into, stock, securities,
property or assets (including cash or any combination thereof) (a “Reorganization Event”), each Preferred Unit outstanding immediately prior to such Reorganization Event shall, without the consent of the Holders, become
convertible into the kind of securities, cash and other property that such Holder would have been entitled to receive if such Holder had converted its Preferred Units into Common Units immediately prior to such Reorganization Event (the
“Reference Property”). In such event, on the Reorganization Event Conversion Date, the applicable Conversion Rate then in effect shall be applied to determine the amount and value of securities, cash or property a Holder
would have received in such transaction (without interest thereon and without any right to distributions thereon which have a Record Date prior to the date such Preferred Units are actually converted). 

(b) Subject to the notice requirements of Section 10 regarding certain transactions as set forth in Section 11(a), the
Partnership shall cause notice of the application of this Section 11 to be delivered to each Holder at the address of such Holder within twenty (20) days after the occurrence of any of the events specified in Section 11(a). Failure to
deliver such notice shall not affect the legality or validity of any conversion pursuant to this Section 11. 
 (c) The
above provisions of this Section 11 shall similarly apply to successive reclassifications, changes, consolidations, mergers, combinations, sales and conveyances, provided, that if Section 10 applies to any event or occurrence, this
Section 11 shall not apply to such event or occurrence. 
 12. Notices. The Partnership shall distribute to
the Holders of Preferred Units copies of all notices, materials, annual and quarterly reports, proxy statements, information statements and any other documents distributed generally to the holders of Common Units of the Partnership, at such times
and by such method as such documents are distributed to such holders of such Common Units. 
 13. No Reissuance.
No Preferred Units acquired by the Partnership by reason of redemption, purchase, conversion or otherwise shall be reissued. 

14. Transfers. No Preferred Unit shall be transferable by any Holder of Preferred Units, except in compliance with all
federal and applicable state securities laws. Except for transfers to (i) any Affiliate of such Purchaser or (ii) in connection with a total return swap or similar transaction with respect to the Purchased Units purchased by such
Purchaser, prior to any transfer, and as a condition thereto, the General Partner may require such documentation, including appropriate opinions of legal counsel, as it, in its sole discretion, deems necessary. 

15. Severability of Provisions. If any right, preference or limitation of the Preferred Units set forth in this Certificate
of Designation (as this Certificate of Designation may be amended from time to time) is invalid, unlawful or incapable of being enforced by reason of any rule or law or public policy, all other rights, preferences and limitations set forth in this
Certificate of Designation, which can be given effect without the invalid, unlawful or unenforceable right, preference or limitation shall nevertheless remain in full force and effect, and no right, preference or limitation herein set forth be
deemed dependent upon any such other right, preference or limitation unless so expressed herein. 
 [Signature Page Follows]

  
 14 

 IN WITNESS WHEREOF, this Certificate of Designation has been duly executed as of the
date first above written. 
  

			
	ATLAS PIPELINE PARTNERS, L.P.
	
	 By: ATLAS PIPELINE PARTNERS GP, LLC,
 its general partner

		
	By:	 	 /s/ Robert W. Karlovich, III

	Name:	 	Robert W. Karlovich, III
	Title:	 	Chief Financial Officer

  
 15 

 EXHIBIT A 
 NOTICE OF PARTNERSHIP OPTIONAL CONVERSION 
 To the Holders of
Class D Convertible 
 Preferred Units 
 Please take notice that Atlas Pipeline Partners, L.P. (the “Partnership”) has irrevocably elected to convert all of the outstanding Class D Convertible Preferred Units (the “Class D
Preferred Units.”) into Common Units of the Partnership. The conversion will be effective at 5:00 p.m., New York time on                     .
The conversion rate will be calculated as set forth in Section 7(a) and Section 8(f) of the Certificate of Designation for the Class D Preferred Units. 

  
 16EX-4.2

 Exhibit 4.2 
 REGISTRATION RIGHTS AGREEMENT 
 by and among 

ATLAS PIPELINE PARTNERS, L.P. 
 and 
 THE PURCHASERS NAMED HEREIN 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	 Article I DEFINITIONS
	  	 	1	  
			
	 Section 1.01
	 	 Definitions
	  	 	1	  
	 Section 1.02
	 	 Registrable Securities
	  	 	3	  
		
	 Article II REGISTRATION RIGHTS
	  	 	4	  
			
	 Section 2.01
	 	 Registration
	  	 	4	  
	 Section 2.02
	 	 Piggyback Rights
	  	 	6	  
	 Section 2.03
	 	 Underwritten Offering
	  	 	8	  
	 Section 2.04
	 	 Sale Procedures
	  	 	9	  
	 Section 2.05
	 	 Cooperation by Holders
	  	 	12	  
	 Section 2.06
	 	 Restrictions on Public Sale by Holders of Registrable Securities
	  	 	13	  
	 Section 2.07
	 	 Expenses
	  	 	13	  
	 Section 2.08
	 	 Indemnification
	  	 	13	  
	 Section 2.09
	 	 Rule 144 Reporting
	  	 	16	  
	 Section 2.10
	 	 Transfer or Assignment of Registration Rights
	  	 	16	  
	 Section 2.11
	 	 Limitation on Subsequent Registration Rights
	  	 	16	  
		
	 Article III MISCELLANEOUS
	  	 	16	  
			
	 Section 3.01
	 	 Communications
	  	 	16	  
	 Section 3.02
	 	 Successor and Assigns
	  	 	17	  
	 Section 3.03
	 	 Aggregation of Purchased Units
	  	 	17	  
	 Section 3.04
	 	 Recapitalization, Exchanges, Etc. Affecting the Units
	  	 	17	  
	 Section 3.05
	 	 Change of Control
	  	 	17	  
	 Section 3.06
	 	 Specific Performance
	  	 	17	  
	 Section 3.07
	 	 Counterparts
	  	 	17	  
	 Section 3.08
	 	 Headings
	  	 	17	  
	 Section 3.09
	 	 Governing Law
	  	 	18	  
	 Section 3.10
	 	 Severability of Provisions
	  	 	18	  
	 Section 3.11
	 	 Entire Agreement
	  	 	18	  
	 Section 3.12
	 	 Amendment
	  	 	18	  
	 Section 3.13
	 	 No Presumption
	  	 	18	  
	 Section 3.14
	 	 Obligations Limited to Parties to Agreement
	  	 	18	  

 REGISTRATION RIGHTS AGREEMENT 

THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made and entered into as of May 7, 2013, by and among
Atlas Pipeline Partners, L.P., a Delaware limited partnership (“Atlas”), and each of the Purchasers set forth in Exhibit A (each, a “Purchaser” and, collectively, the “Purchasers”).

 WHEREAS, this Agreement is made in connection with the Closing of the issuance and sale of Convertible Class D Preferred
Units pursuant to the Class D Preferred Unit Purchase Agreement, dated as of April 16, 2013, by and among Atlas and the Purchasers (the “Purchase Agreement”); 

WHEREAS, Atlas has agreed to provide the registration and other rights set forth in this Agreement for the benefit of the Purchasers
pursuant to the Purchase Agreement; and 
 WHEREAS, it is a condition to the obligations of each Purchaser and Atlas under the
Purchase Agreement that this Agreement be executed and delivered. 
 NOW THEREFORE, in consideration of the mutual covenants and
agreements set forth herein and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by each party hereto, the parties hereby agree as follows: 

ARTICLE I 

DEFINITIONS 
 Section 1.01 Definitions. Capitalized terms used herein without definition shall have the meanings given to them in the Purchase Agreement. The terms set forth below are used herein
as so defined: 
 “Agreement” has the meaning specified therefor in the introductory paragraph. 

“Atlas” has the meaning specified therefor in the introductory paragraph. 

“Business Combination Event” has the meaning specified therefor in Section 2.01(b) of this Agreement. 

“Certificate of Designation” means the Certificate of Designation of the powers, preferences and relative,
participating, optional, and other special rights and qualifications, limitations and restrictions thereof of Class D Preferred Units of Atlas Pipeline Partners, L.P., dated as of May 7, 2013. 

“Closing Date” has the meaning specified therefor in the Purchase Agreement. 

“Common Unit Price” means the volume-weighted average closing price of the Common Units on the principal market on which
the Common Units are then traded during the ten (10) Trading Days prior to the date of measurement. 

 “Common Units” means common units representing limited partnership
interests of Atlas. 
 “Effectiveness Period” has the meaning specified therefor in Section 2.01(a)(i) of
this Agreement. 
 “File Date” has the meaning specified therefor in Section 2.01(a)(i) of this Agreement.

 “Holder” means a holder, directly or indirectly, including pursuant to a total return swap or similar
transaction, of any Registrable Securities; provided, however, that no indirect holder shall be deemed to be a Holder unless and until the record holder and such indirect holder provide notice to Atlas that such indirect holder shall be
deemed to be the Holder for purposes hereof. 
 “Included Registrable Securities” has the meaning specified
therefor in Section 2.02(a) of this Agreement. 
 “Liquidated Damages” has the meaning specified therefor
in Section 2.01(a)(ii) of this Agreement. 
 “Liquidated Damages Multiplier” means the product of
$30.411 times the number of Purchased Units purchased by
such Purchaser. 
 “Losses” has the meaning specified therefor in Section 2.08(a) of this Agreement.

 “Managing Underwriter” means, with respect to any Underwritten Offering, the book-running lead manager of
such Underwritten Offering. 
 “Mandatory Conversion Date” has the meaning specified in Section 2 of the
Certificate of Designation. 
 “Opt Out Notice” has the meaning specified therefor in Section 2.02(a) of
this Agreement. 
 “Partnership Optional Conversion Date” has the meaning specified therefor in
Section 8(a) of the Certificate of Designation. 
 “Preferred Units” means convertible Class D Preferred
Units representing limited partnership interests of Atlas, as described in the Limited Partnership Agreement of Atlas, as amended by the Certificate of Designation, and issued pursuant to the transactions contemplated by the Purchase Agreement.

 “Purchase Agreement” has the meaning specified therefor in the recitals of this Agreement. 

 

	1 	This dollar amount will adjust to be equal to the “Class D Unit Price,” as defined in the Purchase Agreement. 

  
 2 

 “Purchaser” and “Purchasers” have the meanings specified
therefor in the introductory paragraph of this Agreement. 
 “Purchaser Underwriter Registration Statement” has
the meaning specified therefor in Section 2.04(n) of this Agreement. 
 “Registrable Securities” means:
(i) the Common Units issuable upon the conversion of the Preferred Units and (ii) any Common Units issued as Liquidated Damages pursuant to this Agreement, all of which Registrable Securities are subject to the rights provided herein until
such rights terminate pursuant to the provisions hereof; provided, however, that for purposes of calculating any Liquidated Damages under Section 2.01(a)(ii) of this Agreement, “Registrable Securities” includes only Common
Units then currently issued and outstanding. 
 “Registration Expenses” has the meaning specified therefor in
Section 2.07(a) of this Agreement. 
 “Registration Statement” has the meaning specified therefor in
Section 2.01(a)(i) of this Agreement. 
 “Selling Expenses” has the meaning specified therefor in
Section 2.07(a) of this Agreement. 
 “Selling Holder” means a Holder who is selling Registrable
Securities pursuant to a registration statement. 
 “Target Effective Date” has the meaning specified therefor
in Section 2.01(a)(i) of this Agreement. 
 “Underwritten Offering” means an offering (including an
offering pursuant to a Registration Statement) in which Units are sold to an underwriter on a firm commitment basis for reoffering to the public or an offering that is a “bought deal” with one or more investment banks. 

Section 1.02 Registrable Securities. Any Registrable Security will cease to be a Registrable Security when: (a) a
registration statement covering such Registrable Security is effective and such Registrable Security has been sold or disposed of pursuant to such effective registration statement; (b) such Registrable Security has been disposed of pursuant to
any section of Rule 144 (or any similar provision then in force) under the Securities Act; (c) one year after the Closing Date; (d) such Registrable Security is held by Atlas or one of its Subsidiaries; or (e) such Registrable
Security has been sold in a private transaction in which the transferor’s rights under this Agreement are not assigned to the transferee of such securities (but shall not include any such sale or transfer pursuant to a total return swap or
similar transaction with respect to such Registrable Security). 

  
 3 

 ARTICLE II 
 REGISTRATION RIGHTS 
 Section 2.01 Registration.

 (a) Registration. 
 (i) Deadline To File and Go Effective. As soon as practicable following the earlier to occur of the Partnership Optional Conversion Date or the Mandatory Conversion Date, but in any event
prior to the date that is 90 days after the earlier to occur of the Partnership Optional Conversion Date or the Mandatory Conversion Date (the “File Date”), Atlas shall prepare and file a registration statement under the Securities
Act to permit the resale of the Registrable Securities from time to time, including as permitted by Rule 415 under the Securities Act (or any similar provision then in force), with respect to all of the Registrable Securities (the
“Registration Statement”). With respect to any Registrable Securities owned by a Holder indirectly pursuant to a total return swap or similar transaction, if required under the Securities Act or other applicable law to permit
the registration of such Registrable Securities under such Registration Statement, (x) such Holder agrees to unwind such total return swap or similar transaction to the reasonable satisfaction of Atlas or (y) to forego the registration of
such Registrable Securities pursuant to such Registration Statement and, in such case, the Registrable Securities of such Holder shall cease to be Registrable Securities for purposes of this Agreement. Atlas shall use its commercially reasonable
efforts to cause the Registration Statement to become effective no later than the date that is 180 days following the earlier to occur of the Partnership Optional Conversion Date or the Mandatory Conversion Date (the “Target Effective
Date”). A Registration Statement filed pursuant to this Section 2.01 shall be on such registration form of the Commission as is permissible under the Securities Act. Atlas will use its commercially reasonable efforts to cause the
Registration Statement filed pursuant to this Section 2.01 to be continuously effective under the Securities Act until the earlier of (i) the date as of which all such Registrable Securities are sold by the Purchasers and (ii) one
year following the earlier to occur of the Partnership Optional Conversion Date or the Mandatory Conversion Date (the “Effectiveness Period”). The Registration Statement when effective (including the documents incorporated
therein by reference) shall comply as to form with all applicable requirements of the Securities Act and the Exchange Act and shall not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein not misleading. 
 (ii) Failure To Go Effective. If the Registration
Statement required by Section 2.01 is not effective by the Target Effective Date, then each Purchaser shall be entitled to a payment with respect to such Purchaser’s Registrable Securities, as liquidated damages and not as a penalty, of
0.25% of the Liquidated Damages Multiplier per 30-day period for the first 30 days following the Target Effective Date, increasing by an additional 0.25% of the Liquidated Damages Multiplier per 30 day period for each subsequent 30 days, up to a
maximum of 1.00% of the Liquidated Damages Multiplier per 30-day period (the “Liquidated Damages”). The Liquidated Damages payable pursuant to the immediately preceding sentence shall be payable within ten Business Days of the
end of each such 30-day period. Liquidated Damages for any period of less than 30 days shall be prorated by multiplying Liquidated Damages to be paid in a full 30-day period by a fraction, the numerator of which is the number of days for which
Liquidated Damages are owed, and the denominator of which is 30. Any Liquidated Damages shall be paid to each Purchaser in cash or immediately available funds; provided, however, if Atlas certifies that it is unable to pay Liquidated
Damages in cash or immediately available funds because such payment would result in a breach under any of Atlas’s or Atlas’s Subsidiaries’ credit facilities or other indebtedness filed as exhibits to the Atlas SEC Documents, then
Atlas 

  
 4 

 
may pay the Liquidated Damages in kind in the form of the issuance of additional Common Units. Upon any issuance of Common Units as Liquidated Damages, Atlas shall promptly prepare and
file an amendment to the Registration Statement prior to its effectiveness adding such Common Units as additional Registrable Securities. The determination of the number of Common Units to be issued as Liquidated Damages shall be equal to the
amount of Liquidated Damages divided by the volume weighted average closing price of the Common Units (as reported by The New York Stock Exchange or the principal securities market on which the Common Units are then traded) for the ten trading days
immediately preceding the date on which the Liquidated Damages payment is due. Any obligation of Atlas to pay Liquidated Damages (other than Liquidated Damages owing but not yet paid) to a Purchaser shall cease one year following the earlier to
occur of the Partnership Optional Conversion Date or the Mandatory Conversion Date. As soon as practicable following the date that the Registration Statement or any post-effective amendment thereto becomes effective, but in any event within two
Business Days of such date, Atlas shall provide the Purchasers with written notice of the effectiveness of the Registration Statement. 
 (iii) Waiver of Liquidated Damages. If Atlas is unable to cause a Registration Statement to become effective by the Target Effective Date as a result of an acquisition, merger, reorganization,
disposition or other similar transaction, then Atlas may request a waiver of the Liquidated Damages, which may be granted or withheld by the consent of the Holders of at least 75% of the then outstanding Registrable Securities in their sole
discretion. 
 (b) Delay Rights. Notwithstanding anything to the contrary contained herein, Atlas may, upon written
notice to all of the Selling Holders whose Registrable Securities are included in the Registration Statement, suspend such Selling Holders’ use of any prospectus which is a part of the Registration Statement (in which event each such Selling
Holder shall discontinue sales of the Registrable Securities pursuant to the Registration Statement but such Selling Holder may settle any contracted sales of Registrable Securities), if (i) Atlas is pursuing an acquisition, merger,
reorganization, disposition or other similar transaction and Atlas determines in good faith that Atlas’s ability to pursue or consummate such a transaction would be materially adversely affected by any required disclosure of such transaction in
the Registration Statement, (ii) Atlas has completed an acquisition, merger or other business combination transaction that would require the preparation and filing with the SEC of financial statements pursuant to Rule 3-05 of Regulation S-X
promulgated by the SEC (or a successor regulation) (a “Business Combination Event”), or (iii) Atlas has experienced some other material non-public event, the disclosure of which at such time, in the good faith judgment of
Atlas, would materially adversely affect Atlas; provided, however, in no event shall such Selling Holders be suspended under clauses (i) or (iii) of this Section 2.01(b) from selling Registrable Securities pursuant to the Registration
Statement for a period that exceeds an aggregate of 30 days in any 90-day period or 90 days in any 365-day period. Upon disclosure of such information or the termination of the condition described above, Atlas shall (A) provide prompt notice to
the Selling Holders whose Registrable Securities are included in the Registration Statement, (B) promptly terminate any suspension of sales it has put into effect and (C) take such other actions to permit sales of Registrable Securities as
contemplated in this Agreement. 
 (c) Additional Rights to Liquidated Damages. If (i) the Holders shall be
prohibited from selling their Registrable Securities under the Registration Statement as a result 

  
 5 

 
of a suspension pursuant to Section 2.01(b) of this Agreement in excess of the periods permitted therein or (ii) the Registration Statement is filed and effective but, during the
Effectiveness Period, except as a result of a Business Combination Event, shall thereafter cease to be effective or fail to be usable for its intended purpose without being succeeded within a reasonable period of time by a post-effective amendment
to the Registration Statement, a supplement to the prospectus or a report filed with the Commission pursuant to Section 13(a), 13(c), 14 or l5(d) of the Exchange Act and the Holders are not then permitted to sell the Registrable Securities
without restriction under Rule 144, then, until the suspension is lifted, a post-effective amendment, supplement or report is filed with the Commission and effective, or the Holders are permitted to sell the Registrable Securities without
restriction under Rule 144, but not including any day on which a suspension is lifted or such amendment, supplement or report is filed and effective, if applicable, Atlas shall owe the Holders an amount equal to the Liquidated Damages, following
(x) the date on which the suspension period exceeded the permitted period under Section 2.01(b) of this Agreement or (y) the date after the Registration Statement ceased to be effective or failed to be useable for its intended
purposes, as liquidated damages and not as a penalty. For purposes of this Section 2.01(c), a suspension shall be deemed lifted on the date that notice that the suspension has been lifted or that a post-effective amendment is effective is
delivered to the Holders pursuant to Section 3.01 of this Agreement. 
 Section 2.02 Piggyback Rights.

 (a) Participation. If at any time during the Effectiveness Period Atlas proposes to file (i) a shelf
registration statement other than the Registration Statement (in which event Atlas covenants and agrees to include thereon a description of the transaction under which the Purchasers acquired the Registrable Securities), (ii) a prospectus
supplement to an effective shelf registration statement, other than the Registration Statement contemplated by Section 2.01 of this Agreement and Holders may be included without the filing of a post-effective amendment thereto, or (iii) a
registration statement, other than a shelf registration statement, in each such case, for the sale of Common Units in an Underwritten Offering for its own account and/or another Person (but excluding, in each such case, any offering of Common Units
for the purpose of providing funds for, or otherwise in connection with, the acquisition by Atlas, Atlas Pipeline Mid-Continent Holdings, LLC or their affiliates of TEAK Midstream, L.L.C.) then as soon as practicable but not less than three Business
Days prior to the filing of (x) any preliminary prospectus supplement relating to such Underwritten Offering pursuant to Rule 424(b) under the Securities Act, (y) the prospectus supplement relating to such Underwritten Offering pursuant to
Rule 424(b) under the Securities Act (if no preliminary prospectus supplement is used) or (z) such registration statement, as the case may be, then Atlas shall give notice (including, but not limited to, notification by electronic mail) of such
proposed Underwritten Offering to the Holders and such notice shall offer the Holders the opportunity to include in such Underwritten Offering such number of Common Units (the “Included Registrable Securities”) as each such Holder
may request in writing; provided, however, that if Atlas has been advised by the Managing Underwriter that the inclusion of Registrable Securities for sale for the benefit of the Holders will have a material adverse effect on the
amount, price, timing or distribution of the Common Units in the Underwritten Offering, then the amount of Registrable Securities to be offered for the accounts of Holders shall be determined based on the provisions of Section 2.02(b) of this
Agreement. The notice required to be provided in this Section 2.02(a) to Holders shall be provided on a Business Day pursuant to Section 3.01 hereof and receipt of such notice 

  
 6 

 
shall be confirmed by such Holder. Each such Holder shall then have three Business Days after receiving such notice to request inclusion of Registrable Securities in the Underwritten
Offering. If no request for inclusion from a Holder is received within the specified time, such Holder shall have no further right to participate in such Underwritten Offering. If, at any time after giving written notice of its intention
to undertake an Underwritten Offering and prior to the closing of such Underwritten Offering, Atlas shall determine for any reason not to undertake or to delay such Underwritten Offering, Atlas may, at its election, give written notice of such
determination to the Selling Holders and, (x) in the case of a determination not to undertake such Underwritten Offering, shall be relieved of its obligation to sell any Included Registrable Securities in connection with such terminated
Underwritten Offering, and (y) in the case of a determination to delay such Underwritten Offering, shall be permitted to delay offering any Included Registrable Securities for the same period as the delay in the Underwritten Offering. Any
Selling Holder shall have the right to withdraw such Selling Holder’s request for inclusion of such Selling Holder’s Registrable Securities in such offering by giving written notice to Atlas of such withdrawal up to and including the time
of pricing of such offering. Each Holder’s rights under this Section 2.02(a) shall be suspended when such Holder (together with any Affiliates of such Holder) holds, directly or indirectly, including pursuant to a total return swap or
similar transaction, less than $15 million, in aggregate, of Registrable Securities, based on the Common Unit Price. Notwithstanding the foregoing, any Holder may deliver written notice (an “Opt Out Notice”) to Atlas requesting
that such Holder not receive notice from Atlas of any proposed Underwritten Offering; provided, that such Holder may later revoke any such notice. Any Holder that owns Registrable Securities indirectly through a total return swap or similar
transaction at the time of receipt of notice of a proposed Underwritten Offering pursuant to this Section 2.02(a) shall be eligible to participate in an Underwritten Offering as set forth in this Section 2.02(a); provided, that, to
the extent required under the Securities Act or other applicable law to permit such participation, such Holder agrees to unwind such total return swap or similar transaction to the reasonable satisfaction of Atlas in a manner to allow such Holder to
sell any Registrable Securities subject to such total return swap or similar transaction in such Underwritten Offering, free and clear of all liens, encumbrances, equities or claims. 

(b) Priority of Rights. If the Managing Underwriter or Underwriters of any proposed Underwritten Offering of Common Units
included in an Underwritten Offering involving Included Registrable Securities advises Atlas, or Atlas reasonably determines, that the total amount of Registrable Securities that the Selling Holders and any other Persons intend to include in such
offering exceeds the number that can be sold in such offering without being likely to have a material adverse effect on the amount, price, timing or distribution of the Common Units offered or the market for the Common Units, then the Registrable
Securities to be included in such Underwritten Offering shall include the number of Registrable Securities that such Managing Underwriter or Underwriters advises Atlas, or Atlas reasonably determines, can be sold without having such adverse effect,
with such number to be allocated (i) first, to Atlas, and (ii) second, pro rata among the Selling Holders who have requested participation in such Underwritten Offering. The pro rata allocations for each such Selling Holder shall be
the product of (a) the aggregate number of Registrable Securities proposed to be sold by all Selling Holders in such Underwritten Offering multiplied by (b) the fraction derived by dividing (x) the number of Registrable Securities
owned on the Closing Date by such Selling Holder by (y) the aggregate number of Registrable Securities owned on the Closing Date by all Selling Holders participating in the Underwritten Offering. All participating Selling Holders shall
have the opportunity to share pro rata that portion of such priority allocable to any Selling Holder(s) not so participating. 

  
 7 

 Section 2.03 Underwritten Offering. 

(a) Request for Underwritten Offering. In the event that one or more Holders collectively holding, directly or indirectly,
including pursuant to a total return swap or similar transaction, $40 million or more of Registrable Securities, based on the Common Unit Price, elect to dispose of Registrable Securities under the Registration Statement pursuant to an Underwritten
Offering, Atlas shall retain underwriters, effect such sale though an Underwritten Offering, including entering into an underwriting agreement in customary form with the Managing Underwriter or Underwriters, which shall include, among other
provisions, indemnities to the effect and to the extent provided in Section 2.08 and take all reasonable actions as are requested by the Managing Underwriter or Underwriters to expedite or facilitate the disposition of such Registrable
Securities. Atlas management shall participate in a roadshow or similar marketing effort on behalf of any such Holder or Holders if gross proceeds from such Underwritten Offering are reasonably expected to exceed $40 million. 

(b) Limitation on Underwritten Offerings. In connection with any and all rights granted hereunder to the Holders to cause Atlas to
engage underwriters to conduct an Underwritten Offering on behalf of the Holders, in no event shall Atlas be required to do more than an aggregate of two such Underwritten Offerings. 

(c) General Procedures. In connection with any Underwritten Offering under this Agreement, Atlas shall be entitled to select
the Managing Underwriter or Underwriters. In connection with an Underwritten Offering contemplated by this Agreement in which a Selling Holder participates, each Selling Holder and Atlas shall be obligated to enter into an underwriting
agreement that contains such representations, covenants, indemnities and other rights and obligations as are customary in underwriting agreements for firm commitment offerings of securities. No Selling Holder may participate in such
Underwritten Offering unless such Selling Holder agrees to sell its Registrable Securities on the basis provided in such underwriting agreement and completes and executes all questionnaires, powers of attorney, indemnities and other documents
reasonably required under the terms of such underwriting agreement. Each Selling Holder may, at its option, require that any or all of the representations and warranties by, and the other agreements on the part of, Atlas to and for the benefit
of such underwriters also be made to and for such Selling Holder’s benefit and that any or all of the conditions precedent to the obligations of such underwriters under such underwriting agreement also be conditions precedent to its
obligations. No Selling Holder shall be required to make any representations or warranties to or agreements with Atlas or the underwriters other than representations, warranties or agreements regarding such Selling Holder and its ownership of
the securities being registered on its behalf, its intended method of distribution and any other representation required by Law. If any Selling Holder disapproves of the terms of an underwriting, such Selling Holder may elect to withdraw
therefrom by notice to Atlas and the Managing Underwriter; provided, however, that such withdrawal must be made at a time up to and including the time of pricing of such Underwritten Offering. No such withdrawal or abandonment
shall affect Atlas’s obligation to pay Registration Expenses. 

  
 8 

 Section 2.04 Sale Procedures. In connection with its obligations under
this Article II, Atlas will, as expeditiously as possible: 
 (a) prepare and file with the Commission such amendments and
supplements to the Registration Statement and the prospectus used in connection therewith and any other registration statement contemplated by this Agreement or any supplement or amendment thereto as may be necessary to cause the Registration
Statement or any other registration statement contemplated by this Agreement or any supplement or amendment thereto to be effective and to keep the Registration Statement or any other registration statement contemplated by this Agreement or any
supplement or amendment thereto effective for the Effectiveness Period (or such period as is necessary to allow the sale of all Registrable Securities registered pursuant to a registration statement contemplated by Section 2.02 or 2.03 hereof)
and as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by the Registration Statement or any other registration statement contemplated by this Agreement or any supplement
or amendment thereto; 
 (b) furnish to each Selling Holder (i) as far in advance as reasonably practicable before filing
the Registration Statement or any other registration statement contemplated by this Agreement or any supplement or amendment thereto, upon request, copies of reasonably complete drafts of all such documents proposed to be filed (including exhibits
and each document incorporated by reference therein to the extent then required by the rules and regulations of the Commission), and provide each such Selling Holder the opportunity to object to any information pertaining to such Selling Holder and
its plan of distribution that is contained therein and make the corrections reasonably requested by such Selling Holder with respect to such information prior to filing the Registration Statement or such other registration statement or supplement or
amendment thereto, and (ii) such number of copies of the Registration Statement or such other registration statement and the prospectus included therein and any supplements and amendments thereto as such Persons may reasonably request in order
to facilitate the public sale or other disposition of the Registrable Securities covered by such Registration Statement or other registration statement; 
 (c) if applicable, use its commercially reasonable efforts to register or qualify the Registrable Securities covered by the Registration Statement or any other registration statement contemplated by this
Agreement under the securities or blue sky laws of such jurisdictions as the Selling Holders or, in the case of an Underwritten Offering, the Managing Underwriter, shall reasonably request; provided, however, that Atlas will not be
required to qualify generally to transact business in any jurisdiction where it is not then required to so qualify or to take any action which would subject it to general service of process in any such jurisdiction where it is not then so subject;

 (d) promptly notify each Selling Holder and each underwriter of Registrable Securities, at any time when a prospectus
relating thereto is required to be delivered by any of them under the Securities Act, of (i) the filing of the Registration Statement or any other registration statement contemplated by this Agreement or any prospectus to be used in connection
therewith, or any amendment or supplement thereto, and, with respect to such Registration Statement or any other registration statement or any post-effective amendment thereto, when the same has become effective; and (ii) any written comments
from the 

  
 9 

 
Commission with respect to any filing referred to in clause (i) and any written request by the Commission for amendments or supplements to the Registration Statement or any other
registration statement or any prospectus or prospectus supplement thereto; 
 (e) immediately notify each Selling Holder and
each underwriter of Registrable Securities, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, of (i) the happening of any event as a result of which the prospectus or prospectus supplement
contained in the Registration Statement or any other registration statement contemplated by this Agreement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or
necessary to make the statements therein not misleading in the light of the circumstances then existing; (ii) the issuance or threat of issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or
any other registration statement contemplated by this Agreement, or the initiation of any proceedings for that purpose; or (iii) the receipt by Atlas of any notification with respect to the suspension of the qualification of any Registrable
Securities for sale under the applicable securities or blue sky laws of any jurisdiction. Following the provision of such notice, Atlas agrees to as promptly as practicable amend or supplement the prospectus or prospectus supplement or take
other appropriate action so that the prospectus or prospectus supplement does not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not
misleading in the light of the circumstances then existing and to take such other action as is necessary to remove a stop order, suspension, threat thereof or proceedings related thereto; 

(f) upon request and subject to appropriate confidentiality obligations, furnish to each Selling Holder copies of any and all transmittal
letters or other correspondence with the Commission or any other governmental agency or self-regulatory body or other body having jurisdiction (including any domestic or foreign securities exchange) relating to such offering of Registrable
Securities; 
 (g) in the case of an Underwritten Offering, furnish upon request, (i) an opinion of counsel for Atlas dated
the effective date of the applicable registration statement or the date of any amendment or supplement thereto, and a letter of like kind dated the date of the closing under the underwriting agreement, and (ii) a “cold comfort”
letter, dated the date of the applicable registration statement or the date of any amendment or supplement thereto and a letter of like kind dated the date of the closing under the underwriting agreement, in each case, signed by the independent
public accountants who have certified Atlas’s financial statements included or incorporated by reference into the applicable registration statement, and each of the opinion and the “cold comfort” letter shall be in customary form and
covering substantially the same matters with respect to such registration statement (and the prospectus and any prospectus supplement included therein) as are customarily covered in opinions of issuer’s counsel and in accountants’ letters
delivered to the underwriters in Underwritten Offerings of securities and such other matters as such underwriters or Selling Holders may reasonably request; 
 (h) otherwise use its commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to its security holders, as soon as reasonably practicable,
an earnings statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 promulgated thereunder; 

  
 10 

 (i) make available to the appropriate representatives of the Managing Underwriter and
Selling Holders access to such information and Atlas personnel as is reasonable and customary to enable such parties to establish a due diligence defense under the Securities Act; provided, however, that Atlas need not disclose any
such information to any such representative unless and until such representative has entered into or is otherwise subject to a confidentiality agreement with Atlas satisfactory to Atlas (including any confidentiality agreement referenced in
Section 8.06 of the Purchase Agreement); 
 (j) cause all such Registrable Securities registered pursuant to this Agreement
to be listed on each securities exchange or nationally recognized quotation system on which similar securities issued by Atlas are then listed; 
 (k) use its commercially reasonable efforts to cause the Registrable Securities to be registered with or approved by such other governmental agencies or authorities as may be necessary by virtue of the
business and operations of Atlas to enable the Selling Holders to consummate the disposition of such Registrable Securities; 

(l) provide a transfer agent and registrar for all Registrable Securities covered by such registration statement not later than the
effective date of such registration statement; 
 (m) enter into customary agreements and take such other actions as are
reasonably requested by the Selling Holders or the underwriters, if any, in order to expedite or facilitate the disposition of such Registrable Securities; 
 (n) If any Purchaser could reasonably be deemed to be an “underwriter,” as defined in Section 2(a)(11) of the Securities Act, in connection with the registration statement in respect of any
registration of Registrable Securities of such Purchaser pursuant to this Agreement, and any amendment or supplement thereof (any such registration statement or amendment or supplement, a “Purchaser Underwriter Registration
Statement”), then during the Effectiveness Period, Atlas will cooperate with such Purchaser in allowing such Purchaser to conduct customary “underwriter’s due diligence” with respect to Atlas and satisfy its obligations in
respect thereof. In addition, during the Effectiveness Period, at any Purchaser’s request, Atlas will furnish to such Purchaser, on the date of the effectiveness of any Purchaser Underwriter Registration Statement and thereafter no more
often than on a quarterly basis, (i) a letter, dated such date, from Atlas’s independent certified public accountants in form and substance as is customarily given by independent certified public accountants to underwriters in an
underwritten public offering, addressed to such Purchaser, (ii) an opinion, dated as of such date, of counsel representing Atlas for purposes of such Purchaser Underwriter Registration Statement, in form, scope and substance as is customarily
given in an underwritten public offering, including a standard “10b-5” opinion for such offering, addressed to such Purchaser and (iii) a standard officer’s certificate from the Chief Executive Officer and Chief Financial Officer
of Atlas addressed to such Purchaser; provided, however, that with respect to any Underwritten Offering, Atlas’s obligations with respect to this Section 2.04(n) shall be limited to one time, with an additional bring down
request within 30 days of the date of such documents. Atlas will also permit one legal counsel to such Purchaser(s) to review and comment upon any such Purchaser Underwriter Registration Statement at least five Business Days prior to its filing
with the Commission and all amendments and supplements to any such Purchaser Underwriter 

  
 11 

 
Registration Statement within a reasonable number of days prior to their filing with the Commission and not file any Purchaser Underwriter Registration Statement or amendment or supplement
thereto in a form to which such Purchaser’s legal counsel reasonably objects; 
 (o) Each Selling Holder, upon receipt of
notice from Atlas of the happening of any event of the kind described in Section 2.04(e) of this Agreement, shall forthwith discontinue disposition of the Registrable Securities until such Selling Holder’s receipt of the copies of the
supplemented or amended prospectus contemplated by Section 2.04(e) of this Agreement or until it is advised in writing by Atlas that the use of the prospectus may be resumed and has received copies of any additional or supplemental filings
incorporated by reference in the prospectus, and, if so directed by Atlas, such Selling Holder will, or will request the managing underwriter or underwriters, if any, to deliver to Atlas (at Atlas’s expense) all copies in their possession or
control, other than permanent file copies then in such Selling Holder’s possession, of the prospectus covering such Registrable Securities current at the time of receipt of such notice; 

(p) If requested by a Purchaser, Atlas shall: (i) as soon as practicable incorporate in a prospectus supplement or post-effective
amendment such information as such Purchaser reasonably requests to be included therein relating to the sale and distribution of Registrable Securities, including information with respect to the number of Registrable Securities being offered or
sold, the purchase price being paid therefor and any other terms of the offering of the Registrable Securities to be sold in such offering; (ii) as soon as practicable make all required filings of such prospectus supplement or post-effective
amendment after being notified of the matters to be incorporated in such prospectus supplement or post-effective amendment; and (iii) as soon as practicable, supplement or make amendments to any Registration Statement; and 

(q) Include in the plan of distribution section of a registrations statement the following language with respect to the selling
unitholders: 
 “The selling unitholders may enter into derivative transactions with third parties, or sell securities not
covered by this prospectus to third parties in privately negotiated transactions. If the applicable prospectus supplement indicates, in connection with those derivatives, the third parties may sell securities covered by this prospectus and the
applicable prospectus supplement, including in short sale transactions. If so, the third party may use securities pledged by the selling unitholders or borrowed from the selling unitholders or others to settle those sales or to close out any related
open borrowings of Units, and may use securities received from the selling unitholders in settlement of those derivatives to close out any related open borrowings of Units.” 

Section 2.05 Cooperation by Holders. Atlas shall have no obligation to include in the Registration Statement Registrable
Securities of a Holder, or in an Underwritten Offering 

  
 12 

 
pursuant to Section 2.02 Registrable Securities of a Selling Holder, who has failed to timely furnish such information that Atlas determines, after consultation with counsel, is reasonably
required to be furnished or conformed in order for the registration statement or prospectus supplement, as applicable, to comply with the Securities Act. 
 Section 2.06 Restrictions on Public Sale by Holders of Registrable Securities. For a period of 365 days from the Closing Date, each Holder of Registrable Securities agrees not to effect any
public sale or distribution of the Registrable Securities for a period of up to 30 days following completion of an Underwritten Offering of equity securities by Atlas (except as provided in this Section 2.06); provided, however,
that the duration of the foregoing restrictions shall be no longer than the duration of the shortest restriction generally imposed by the underwriters on the officers or directors or any other Unitholder of Atlas on whom a restriction is imposed in
connection with such public offering.
 Section 2.07 Expenses. 

(a) Certain Definitions. “Registration Expenses” means all expenses incident to Atlas’s performance
under or compliance with this Agreement to effect the registration of Registrable Securities on the Registration Statement pursuant to Section 2.01 hereof or an Underwritten Offering covered under this Agreement, and the disposition of such
securities, including, without limitation, all registration, filing, securities exchange listing and The New York Stock Exchange fees, all registration, filing, qualification and other fees and expenses of complying with securities or blue sky laws,
fees of the National Association of Securities Dealers, Inc., transfer taxes and fees of transfer agents and registrars, all word processing, duplicating and printing expenses and the fees and disbursements of one counsel to the Holders and
independent public accountants for Atlas, including the expenses of any special audits or “cold comfort” letters required by or incident to such performance and compliance. “Selling Expenses” means all underwriting
fees, discounts, selling commissions and fees of underwriters’ counsel allocable to the sale of the Registrable Securities. 
 (b) Expenses. Atlas will pay all reasonable Registration Expenses as determined in good faith, including, in the case of an Underwritten Offering, whether or not any sale is made pursuant to
such Underwritten Offering. In addition, except as otherwise provided in Section 2.08 hereof, Atlas shall not be responsible for legal fees incurred by Holders in connection with the exercise of such Holders’ rights
hereunder. Each Selling Holder shall pay its pro rata share of all Selling Expenses in connection with any sale of its Registrable Securities hereunder. 
 Section 2.08 Indemnification. 
 (a) By Atlas. In the event
of an offering of any Registrable Securities under the Securities Act pursuant to this Agreement, Atlas will indemnify and hold harmless each Selling Holder thereunder, its Affiliates that own Registrable Securities and their respective directors
and officers, and each underwriter, pursuant to the applicable underwriting agreement with such underwriter, of Registrable Securities thereunder and each Person, if any, who controls such Selling Holder or underwriter within the meaning of the
Securities Act and the Exchange Act, and its directors and officers (collectively, the “Selling Holder Indemnified Persons”), 

  
 13 

 
against any losses, claims, damages, expenses or liabilities (including reasonable attorneys’ fees and expenses) (collectively, “Losses”), joint or several, to which such
Selling Holder Indemnified Person may become subject under the Securities Act, the Exchange Act or otherwise, insofar as such Losses (or actions or proceedings, whether commenced or threatened, in respect thereof) arise out of or are based upon any
untrue statement or alleged untrue statement of any material fact contained in the Registration Statement or any other registration statement contemplated by this Agreement, any preliminary prospectus, free writing prospectus or final prospectus
contained therein, or any amendment or supplement thereof, 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 case of a
prospectus, in light of the circumstances under which they were made) not misleading or arise out of or are based upon a Selling Holder being deemed to be an “underwriter,” as defined in Section 2(a)(11) of the Securities Act, in
connection with the registration statement in respect of any registration of Atlas’s securities, and will reimburse each such Selling Holder Indemnified Person for any legal or other expenses reasonably incurred by them in connection with
investigating or defending any such Loss or actions or proceedings; provided, however, that Atlas will not be liable in any such case if and to the extent that any such Loss arises out of or is based upon an untrue statement or alleged
untrue statement or omission or alleged omission so made in strict conformity with information furnished by such Selling Holder Indemnified Person in writing specifically for use in the Registration Statement or such other registration statement, or
prospectus supplement, as applicable. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of such Selling Holder or any such Selling Holder, its directors or officers or any underwriter or
controlling Person, and shall survive the transfer of such securities by such Selling Holder. 
 (b) By Each Selling
Holder. Each Selling Holder agrees severally and not jointly to indemnify and hold harmless Atlas, its directors and officers, and each Person, if any, who controls Atlas within the meaning of the Securities Act or of the Exchange Act, and
its directors and officers, to the same extent as the foregoing indemnity from Atlas to the Selling Holders, but only with respect to information regarding such Selling Holder furnished in writing by or on behalf of such Selling Holder expressly for
inclusion in the Registration Statement or any preliminary prospectus or final prospectus included therein, or any amendment or supplement thereto; provided, however, that the liability of each Selling Holder shall not be greater in
amount than the dollar amount of the proceeds (net of any Selling Expenses) received by such Selling Holder from the sale of the Registrable Securities giving rise to such indemnification. 

(c) Notice. Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such
indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any
liability which it may have to any indemnified party other than under this Section 2.08. In any action brought against any indemnified party, it shall notify the indemnifying party of the commencement thereof. The indemnifying party
shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party and, after notice from the indemnifying party to such indemnified party
of its election so to assume and undertake the defense thereof, the 

  
 14 

 
indemnifying party shall not be liable to such indemnified party under this Section 2.08 for any legal expenses subsequently incurred by such indemnified party in connection with the defense
thereof other than reasonable costs of investigation and of liaison with counsel so selected; provided, however, that, (i) if the indemnifying party has failed to assume the defense or employ counsel reasonably acceptable to the
indemnified party or (ii) if the defendants in any such action include both the indemnified party and the indemnifying party and counsel to the indemnified party shall have concluded that there may be reasonable defenses available to the
indemnified party that are different from or additional to those available to the indemnifying party, or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, then the
indemnified party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other reasonable
expenses related to such participation to be reimbursed by the indemnifying party as incurred. Notwithstanding any other provision of this Agreement, no indemnified party shall settle any action brought against it with respect to which it is
entitled to indemnification hereunder without the consent of the indemnifying party, unless the settlement thereof imposes no liability or obligation on, and includes a complete and unconditional release from all liability of, the indemnifying
party. 
 (d) Contribution. If the indemnification provided for in this Section 2.08 is held by a court or
government agency of competent jurisdiction to be unavailable to any indemnified party or is insufficient to hold them harmless in respect of any Losses, then each such indemnifying party, in lieu of indemnifying such indemnified party, shall
contribute to the amount paid or payable by such indemnified party as a result of such Loss in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of such indemnified party on the other in
connection with the statements or omissions which resulted in such Losses, as well as any other relevant equitable considerations; provided, however, that in no event shall such Selling Holder be required to contribute an aggregate
amount in excess of the dollar amount of proceeds (net of Selling Expenses) received by such Selling Holder from the sale of Registrable Securities giving rise to such indemnification. The relative fault of the indemnifying party on the one
hand and the indemnified party on the other shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact has been made by, or
relates to, information supplied by such party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties hereto agree that it would not be just and
equitable if contributions pursuant to this paragraph were to be determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to herein. The amount paid by an
indemnified party as a result of the Losses referred to in the first sentence of this paragraph shall be deemed to include any legal and other expenses reasonably incurred by such indemnified party in connection with investigating or defending any
Loss which is the subject of this paragraph. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who is not guilty of such
fraudulent misrepresentation. 
 (e) Other Indemnification. The provisions of this Section 2.08 shall be in
addition to any other rights to indemnification or contribution which an indemnified party may have pursuant to law, equity, contract or otherwise. 

  
 15 

 Section 2.09 Rule 144 Reporting. With a view to making available the
benefits of certain rules and regulations of the Commission that may permit the sale of the Registrable Securities to the public without registration, Atlas agrees to use its commercially reasonable efforts to: 

(a) make and keep public information regarding Atlas available, as those terms are understood and defined in Rule 144 under the
Securities Act, at all times from and after the date hereof; 
 (b) file with the Commission in a timely manner all reports and
other documents required of Atlas under the Securities Act and the Exchange Act at all times from and after the date hereof; and 
 (c) so long as a Holder owns any Registrable Securities, furnish, unless otherwise available at no charge by access electronically to the Commission’s EDGAR filing system, to such Holder forthwith
upon request a copy of the most recent annual or quarterly report of Atlas, and such other reports and documents so filed as such Holder may reasonably request in availing itself of any rule or regulation of the Commission allowing such Holder to
sell any such securities without registration. 
 Section 2.10 Transfer or Assignment of Registration
Rights. The rights to cause Atlas to register Registrable Securities granted to the Purchasers by Atlas under this Article II may be transferred or assigned by any Purchaser to one or more transferee(s) or assignee(s) of such Registrable
Securities or by total return swap or similar transaction; provided, however, that, except with respect to a total return swap or similar transaction, for any such assignment to be effective, (a) such transferee or assignee must be an
Affiliate of such Purchaser or another Purchaser, (b) Atlas must be given written notice prior to any said transfer or assignment, stating the name and address of each such transferee or assignee and identifying the securities with respect to
which such registration rights are being transferred or assigned, and (c) such transferee or assignee must assume in writing responsibility for its portion of the obligations of such Purchaser under this Agreement. 

Section 2.11 Limitation on Subsequent Registration Rights. From and after the date hereof, Atlas shall not, without the
prior written consent of the Holders of a majority of the outstanding Registrable Securities, (i) enter into any agreement with any current or future holder of any securities of Atlas that would allow such current or future holder to require
Atlas to include securities in any registration statement filed by Atlas on a basis that is superior in any way to the piggyback rights granted to the Purchasers hereunder or (ii) grant registration rights to any other Person that would be
superior to the Purchasers’ registration rights hereunder. 
 ARTICLE III 

MISCELLANEOUS 
 Section 3.01 Communications. All notices and other communications provided for or permitted hereunder shall be made in writing by facsimile, electronic mail, courier service or personal
delivery: 
 (a) if to Atlas, to the address set forth on its signature page; 

  
 16 

 (b) if to a Purchaser, to the address set forth on Exhibit A; and 

(c) if to a transferee of Purchaser, to such Holder at the address provided pursuant to Section 2.10 hereof. 

All such notices and communications shall be deemed to have been received: at the time delivered by hand, if personally delivered; when
receipt acknowledged, if sent via facsimile or electronic mail; and when actually received, if sent by courier service or any other means. 
 Section 3.02 Successor and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and assigns of each of the parties, including subsequent Holders of
Registrable Securities to the extent permitted herein. 
 Section 3.03 Aggregation of Purchased Units. All
Preferred Units held or acquired by Persons who are Affiliates of one another shall be aggregated together for the purpose of determining the availability of any rights under this Agreement. 

Section 3.04 Recapitalization, Exchanges, Etc. Affecting the Units. The provisions of this Agreement shall apply to the
full extent set forth herein with respect to any and all units of Atlas or any successor or assign of Atlas (whether by merger, consolidation, sale of assets or otherwise) which may be issued in respect of, in exchange for or in substitution of, the
Registrable Securities, and shall be appropriately adjusted for combinations, unit splits, recapitalizations and the like occurring after the date of this Agreement. 
 Section 3.05 Change of Control. Atlas shall not merge, consolidate or combine with any other Person unless the agreement providing for such merger, consolidation or combination expressly
provides for the continuation of the registration rights specified in this Agreement with respect to the Registrable Securities or other equity securities issued pursuant to such merger, consolidation or combination. 

Section 3.06 Specific Performance. Damages in the event of breach of this Agreement by a party hereto may be difficult,
if not impossible, to ascertain, and it is therefore agreed that each such Person, in addition to and without limiting any other remedy or right it may have, will have the right to an injunction or other equitable relief in any court of competent
jurisdiction, enjoining any such breach, and enforcing specifically the terms and provisions hereof, and each of the parties hereto hereby waives any and all defenses it may have on the ground of lack of jurisdiction or competence of the court to
grant such an injunction or other equitable relief. The existence of this right will not preclude any such Person from pursuing any other rights and remedies at law or in equity which such Person may have. 

Section 3.07 Counterparts. This Agreement may be executed in any number of counterparts and by different parties hereto
in separate counterparts, each of which counterparts, when so executed and delivered, shall be deemed to be an original and all of which counterparts, taken together, shall constitute but one and the same Agreement. 

Section 3.08 Headings. The headings in this Agreement are for convenience of reference only and shall not limit or
otherwise affect the meaning hereof. 

  
 17 

 Section 3.09 Governing Law. The Laws of the State of New York shall govern
this Agreement without regard to principles of conflict of Laws. 
 Section 3.10 Severability of
Provisions. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining
provisions hereof or affecting or impairing the validity or enforceability of such provision in any other jurisdiction. 

Section 3.11 Entire Agreement. This Agreement is intended by the parties as a final expression of their agreement and
intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein. There are no restrictions, promises, warranties or undertakings, other than those set
forth or referred to herein with respect to the rights granted by Atlas set forth herein. This Agreement and the Purchase Agreement supersede all prior agreements and understandings between the parties with respect to such subject matter.

 Section 3.12 Amendment. This Agreement may be amended only by means of a written amendment signed by Atlas
and the Holders of at least 75% of the then outstanding Registrable Securities; provided, however, that no such amendment shall materially and adversely affect the rights of any Holder hereunder without the consent of such Holder.

 Section 3.13 No Presumption. If any claim is made by a party relating to any conflict, omission or ambiguity
in this Agreement, no presumption or burden of proof or persuasion shall be implied by virtue of the fact that this Agreement was prepared by or at the request of a particular party or its counsel. 

Section 3.14 Obligations Limited to Parties to Agreement. Each of the Parties hereto covenants, agrees and acknowledges
that no Person other than the Purchasers (and their permitted assignees) and Atlas shall have any obligation hereunder and that, notwithstanding that one or more of the Purchasers may be a corporation, partnership or limited liability company, no
recourse under this Agreement or the Purchase Agreement or under any documents or instruments delivered in connection herewith or therewith shall be had against any former, current or future director, officer, employee, agent, general or limited
partner, manager, member, stockholder or Affiliate of any of the Purchasers or any former, current or future director, officer, employee, agent, general or limited partner, manager, member, stockholder or Affiliate of any of the foregoing, whether
by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any applicable Law, it being expressly agreed and acknowledged that no personal liability whatsoever shall attach to, be imposed on or otherwise be
incurred by any former, current or future director, officer, employee, agent, general or limited partner, manager, member, stockholder or Affiliate of any of the Purchasers or any former, current or future director, officer, employee, agent, general
or limited partner, manager, member, stockholder or Affiliate of any of the foregoing, as such, for any obligations of the Purchasers under this Agreement or the Purchase Agreement or any documents or instruments delivered in connection herewith or
therewith or for any claim based on, in respect of or by reason of such obligation or its creation. 

  
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 [The remainder of this page is intentionally left blank] 

  
 19 

 IN WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of the date
first above written. 
  

									
		 		 	ATLAS PIPELINE PARTNERS, L.P.
			
		 		 	 By: Atlas Pipeline Partners GP, LLC,
 its general partner

				
		 		 	By:	 	 /s/ Robert W. Karlovich, III

		 		 		 	Name:	 	Robert W. Karlovich, III
		 		 		 	Title:	 	Chief Financial Officer
		
	 Address for notices:
	 	Atlas Pipeline Partners, L.P.
		 		 	1000 Commerce Dr., Suite 410
		 		 	Pittsburg, PA 15275
		 		 	Fax:	 	412-262-2820
		 		 	Attn:	 	Robert W. Karlovich, III
		
	 With copies to:
	 	Jones Day
		 		 	717 Texas Ave., Suite 3300
		 		 	Houston, TX 77002
		 		 	Fax:	 	832-239-3600
		 		 	Attn:	 	Jeffrey A. Schlegel
		 		 		 	Darrell W. Taylor

 IN WITNESS WHEREOF, the Parties hereto execute this Agreement, effective as of the date
first above written. 
  

			
	 [Purchaser]

		
	By:	 	  

	Name:	 	
	Title:

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