Document:

exv10w18

 

EXHIBIT 10.18

FORM OF FOURTH AMENDED AND RESTATED

ADMINISTRATIVE SERVICES AGREEMENT

(formerly called, EPCO AGREEMENT)

by and among

EPCO, INC.

(formerly known as Enterprise Products Company)

ENTERPRISE GP HOLDINGS L.P.

EPE HOLDINGS, LLC

ENTERPRISE PRODUCTS PARTNERS L.P.

ENTERPRISE PRODUCTS OPERATING L.P.

ENTERPRISE PRODUCTS GP, LLC

ENTERPRISE PRODUCTS OLPGP, INC.

DEP HOLDINGS, LLC

DUNCAN ENERGY PARTNERS L.P.

DEP OPERATING PARTNERSHIP, L.P.

TEPPCO PARTNERS, L.P.

TEXAS EASTERN PRODUCTS PIPELINE COMPANY, LLC

TE PRODUCTS PIPELINE COMPANY, LIMITED PARTNERSHIP

TEPPCO MIDSTREAM COMPANIES, L.P.

TCTM, L.P.

and

TEPPCO GP, INC.

 

 

TABLE OF CONTENTS

ARTICLE 1: DEFINITIONS

	 	 	 	 	 	 	 
	1.1
	 	Definitions	 	 	2	 
	1.2
	 	Construction	 	 	2	 

ARTICLE 2: SERVICES

	 	 	 	 	 	 	 
	2.1
	 	EPCO Services; Term	 	 	2	 
	2.2
	 	EPCO Compensation	 	 	3	 
	2.3
	 	Dispute Regarding Services or Calculation of Costs	 	 	3	 
	2.4
	 	Invoices	 	 	3	 
	2.5
	 	Disputes; Default	 	 	3	 
	2.6
	 	Input Regarding EPCO Services	 	 	3	 
	2.7
	 	Limitation Regarding EPCO Services	 	 	4	 
	2.8
	 	Representations Regarding Use of Services	 	 	4	 
	2.9
	 	Warranties; Limitation of Liability	 	 	4	 
	2.10
	 	Force Majeure	 	 	4	 
	2.11
	 	Affiliates	 	 	4	 
	2.12
	 	Dedication of EPCO Employees	 	 	4	 

ARTICLE 3: USE OF NAME AND MARK

	 	 	 	 	 	 	 
	3.1
	 	Grant of License	 	 	4	 
	3.2
	 	Reimbursement of Costs	 	 	5	 

ARTICLE 4: EPCO’S INDEMNIFICATION FOR EXCLUDED LIABILITIES

	 	 	 	 	 	 	 
	4.1
	 	Indemnification	 	 	5	 
	4.2
	 	Indemnification Procedures	 	 	5	 

ARTICLE 5: OTHER AGREEMENTS

	 	 	 	 	 	 	 
	5.1
	 	Insurance Matters	 	 	5	 
	5.2
	 	Sublease of Equipment	 	 	5	 
	5.3
	 	EPCO’s Employees	 	 	5	 
	5.4
	 	Business Opportunities	 	 	6	 
	5.5
	 	Adoption of Policies and Procedures	 	 	8	 

ARTICLE 6: MISCELLANEOUS

	 	 	 	 	 	 	 
	6.1
	 	Choice of Law; Submission to Jurisdiction	 	 	8	 
	6.2
	 	Notices	 	 	8	 
	6.3
	 	Entire Agreement; Supersedure	 	 	9	 
	6.4
	 	Effect of Waiver of Consent	 	 	9	 
	6.5
	 	Amendment or Modification	 	 	9	 

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	6.6
	 	Assignment	 	 	9	 
	6.7
	 	Counterparts	 	 	9	 
	6.8
	 	Severability	 	 	9	 
	6.9
	 	Further Assurances	 	 	9	 
	6.10
	 	Withholding or Granting of Consent	 	 	9	 
	6.11
	 	U.S. Currency	 	 	9	 
	6.12
	 	Laws and Regulations	 	 	9	 
	6.13
	 	Negation of Rights of Third Parties	 	 	9	 

Exhibit A — Definitions

Exhibit B — Policies and Procedures

Schedule 2.12 — Schedule of Initial Dedicated EPCO Employees

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FOURTH AMENDED AND RESTATED

ADMINISTRATIVE SERVICES AGREEMENT

     THIS FOURTH AMENDED AND RESTATED ADMINISTRATIVE SERVICES AGREEMENT (this “Agreement”) is
entered into this            day of           , 2007, but effective as of                     , 2007 (the “Effective
Date”), by and among EPCO, Inc., a Texas corporation formerly known as Enterprise Products Company
(“EPCO”), Enterprise GP Holdings L.P., a Delaware limited partnership (“EPE”), EPE Holdings, LLC, a
Delaware limited liability company (“EPE GP”), Enterprise Products Partners L.P., a Delaware
limited partnership (“EPD”), Enterprise Products Operating L.P., a Delaware limited partnership
(“EPD OLP”), Enterprise Products GP, LLC, a Delaware limited liability company (“EPD GP”),
Enterprise Products OLPGP, Inc., a Delaware corporation (“EPD OLPGP”), DEP Holdings, LLC, a
Delaware limited liability company (“DEP Holdings”), Duncan Energy Partners L.P., a Delaware
limited partnership (“DEP”), DEP Operating Partnership, L.P., a Delaware limited partnership (“DEP
OLP”), TEPPCO Partners, L.P., a Delaware limited partnership (“TPP”), Texas Eastern Products
Pipeline Company, LLC, a Delaware limited liability company (“TPP GP”), TE Products Pipeline
Company, Limited Partnership, a Delaware limited partnership (“TE LP”), TEPPCO Midstream Companies,
L.P., a Delaware limited partnership (“TEPPCO Midstream”), TCTM, L.P., a Delaware limited
partnership (“TCTM”), and TEPPCO GP, Inc., a Delaware corporation (“TEPPCO Inc.”). Capitalized
terms not otherwise defined below have the meanings ascribed to such terms as set forth on
Exhibit A to this Agreement.

R E C I T A L S

     The purpose of this Agreement is to amend and restate, in its entirety, that certain Third
Amended and Restated Administrative Services Agreement (the “Third Amendment”), dated August 15,
2005 but effective as of February 24, 2005, among certain of the Parties hereto.

     The Parties hereto (other than EPE, EPE GP, EPD OLPGP, DEP Holdings, DEP, DEP OLP, TPP, TPP
GP, TE LP, TEPPCO Midstream, TCTM and TEPPCO Inc.) originally entered into that certain EPCO
Agreement, dated as of July 31, 1998, in connection with the initial public offering of EPD units,
pursuant to which EPCO and its Affiliates (other than the EPD Partnership Entities) agreed to
provide certain operational and financial support to the EPD Partnership Entities.

     Effective as of December 10, 2003, EPD OLPGP succeeded EPD GP as the general partner of EPD
OLP.

     Effective as of January 1, 2004, the Parties hereto (other than EPE, EPE GP, DEP Holdings,
DEP, DEP OLP, TPP, TPP GP, TE LP, TEPPCO Midstream, TCTM and TEPPCO Inc.) amended and restated the
EPCO Agreement pursuant to the First Amended and Restated Administrative Services Agreement (the
“First Amendment”), (i) to reduce the operational and financial support provided by the EPCO Group
to the EPD Partnership Entities, (ii) to change the manner in which the EPD Partnership Entities
were charged for certain administrative, management, and operating services provided by EPCO, from
a fixed fee to allocating the cost of such services to the EPD Partnership Entities on a pro rata
basis, (iii) to assign certain contract rights, initially retained by EPCO, but which related to
assets owned by the EPD Partnership Entities to the EPD Partnership Entities, and (iv) to reflect
certain other understandings between the EPCO Group and the EPD Partnership Entities.

     Effective as of June 21, 2004, EPCO assigned the Name and the Mark to EPD GP, and effective as
of October 1, 2004, Enterprise GP assigned the Name and Mark to EPD OLP.

     Effective October 1, 2004, the Parties hereto (other than EPE, EPE GP, DEP Holdings, DEP, DEP
OLP, TPP, TPP GP, TE LP, TEPPCO Midstream, TCTM and TEPPCO Inc.) amended and restated the First
Amendment to evidence, among other matters the terms and conditions upon which (i) the EPCO Group
would provide certain services to the EPD Partnership Entities, (ii) EPD OLP would license the use
of the Name and the Mark to EPCO and (iii) EPCO would provide indemnification to the EPD
Partnership Entities for certain matters.

     On February 24, 2005, an Affiliate of EPCO acquired TPP GP. Effective February 24, 2005, the
Parties to the Second Amendment executed Amendment No. 1 to the Second Amendment to exclude the TPP
Partnership
Entities from the definition of EPCO Group and exclude such entities from the business
opportunity agreements set forth in the Second Amendment.

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     Effective February 24, 2005, the parties hereto (other than DEP Holdings, DEP and DEP OLP)
amended and restated the Second Amendment to evidence, among other matters the terms and conditions
pursuant to which (i) the EPCO Group provided certain services to the EPE Partnership Entities,
(ii) the EPCO Group provided certain services to the TPP Partnership Entities and (iii) a variety
of additional matters were handled among the EPCO Group, the EPE Partnership Entities, the EPD
Partnership Entities and the TPP Partnership Entities.

     EPE completed the initial public offering of its units in August 2005.

     Effective February 13, 2006, the Parties executed a waiver regarding certain provisions of the
Conflicts Policies and Procedures set forth in the Third Amendment.

     On November 2, 2006, DEP filed a registration statement on Form S-1 and is in the process of
completing the initial public offering of its common units.

     The Parties hereto desire, by their execution of this Agreement, to evidence the terms and
conditions pursuant to which (i) the EPCO Group will provide certain services to the DEP
Partnership Entities and (ii) a variety of additional matters will be handled among the EPCO Group,
the EPE Partnership Entities, the EPD Partnership Entities, the DEP Partnership Entities and the
TPP Partnership Entities.

A G R E E M E N T S

     NOW, THEREFORE, in consideration of the premises and the covenants, conditions, and agreements
contained herein, and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the Parties hereto hereby agree as follows:

ARTICLE 1: DEFINITIONS

     1.1    Definitions. The definitions listed on Exhibit A shall be for all purposes, unless
otherwise clearly indicated to the contrary, applied to the terms used in this Agreement.

     1.2    Construction. Unless the context requires otherwise: (a) any pronoun used in this Agreement
shall include the corresponding masculine, feminine or neuter forms, and the singular form of
nouns, pronouns and verbs shall include the plural and vice versa; (b) references to Articles and
Sections refer to Articles and Sections of this Agreement; (c) the terms “include”, “includes”,
“including” or words of like import shall be deemed to be followed by the words “without
limitation”; and (d) the terms “hereof”, “herein” or “hereunder” refer to this Agreement as a whole
and not to any particular provision of this Agreement. The table of contents and headings
contained in this Agreement are for reference purposes only, and shall not affect in any way the
meaning or interpretation of this Agreement.

ARTICLE 2: SERVICES

     2.1    EPCO Services; Term. During the period beginning on the Effective Date and ending on December
31, 2010, subject to the terms of this Article 2 and Exhibit B to this Agreement and in
exchange for the reimbursement described in Section 2.2, EPCO hereby agrees to provide, or to cause
EPCO Holdings, Inc., a Texas corporation (“EPCO Holdings”), to provide, the Partnership Entities
with such selling, general and administrative services and such management and operating services
as may be necessary to manage and operate the business, properties and assets of the Partnership
Entities in accordance with Prudent Industry Practices; it being understood and agreed by the
Parties that in connection with the provision of such services, EPCO shall employ or otherwise
retain the services of such personnel as may be necessary to cause the business, properties and
assets of the Partnership Entities to be so managed and operated (individually, an “EPCO Service”
and, collectively, the “EPCO Services”).

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     2.2    EPCO Compensation. As compensation for the provision by EPCO of the EPCO Services to each of
the Partnership Entities, EPCO shall be entitled to receive, and each of the Partnership Entities
agrees to pay to EPCO, without duplication, an amount equal to the sum of all costs and expenses
(direct or indirect) incurred by EPCO which are directly or indirectly related to the business or
activities of such Partnership Entity (including, without limitation, expenses, direct or indirect,
reasonably allocated to such Partnership Entity by EPCO). In addition, each of the Partnership
Entities shall pay all sales, use, excise, value added or similar taxes, if any, that may be
applicable from time to time in respect of the EPCO Services provided to such Partnership Entity by
EPCO. The aggregate amount payable by the Partnership Entities to EPCO pursuant to this Section
2.2 with respect to a given period of time shall be referred to herein as such entity’s
“Administrative Services Fee”. It is the intention of the Parties that, with the exception of
Article V and the Retained Leases (as hereinafter defined) in the case of the EPD Partnership
Entities, the Administrative Services Fee with respect to the Partnership Entities represents fair
and reasonable compensation to EPCO for the Partnership Entities’ allocable share of all general
and administrative expenses, capital expenses and other costs for Shared Services borne or
performed by EPCO, or any of the other members of the EPCO Group, for the benefit of any
Partnership Entity.

     2.3    Dispute Regarding Services or Calculation of Costs. Should there be a dispute over the nature
or quality of the EPCO Services, or the calculation and allocation of any Administrative Services
Fee, relating to any of the EPCO Services, EPCO and the applicable Partnership Entity or Entities
shall first attempt to resolve such dispute, acting diligently and in good faith, using the past
practices of such Parties and documentary evidence of costs as guidelines for such resolution. If
EPCO and the applicable Partnership Entity or Entities are unable to resolve any such dispute
within thirty days, or such additional time as may be reasonable under the circumstances, the
dispute shall be referred to the Audit and Conflicts Committee of EPE GP, EPD GP, DEP Holdings or
TPP GP, as applicable. EPCO shall provide to each of the Partnership Entities a quarterly
statement indicating the total EPCO costs and expenses allocated to all of the Partnership Entities
and a detailed statement of the EPCO costs and expenses that are allocated to the particular group
of Partnership Entities and representative of such Partnership Entities’ Administrative Service Fee
(including an explanation of such allocation, which shall generally be consistent from period to
period); provided that one group of Partnership Entities will not receive the allocation for
another group of Partnership Entities (e.g., the EPD Partnership Entities will not receive the
detailed statement of the TPP Partnership Entities’ costs and expenses, and vice-versa). The
Parties agree that the applicable Audit and Conflicts Committee shall have the authority to settle
any such dispute, in its sole discretion, recognizing that it is the intent of all Parties that all
shared expenses or services be allocated among the EPCO Group and the applicable Partnership Entity
or Entities on a fair and reasonable basis.

     2.4    Invoices. EPCO shall invoice the applicable Billing Agent on or before the last day of each
month for the estimated Administrative Services Fee for the next succeeding month, plus or minus
any adjustment necessary to correct prior estimated billings to actual billings. All invoices
shall be due and payable on the last day of the month which the invoice covers. Upon request from
the applicable Billing Agent, EPCO shall furnish in reasonable detail a description of the EPCO
Services performed for the corresponding Partnership Entity or Entities during any month or other
relevant period.

     2.5    Disputes; Default. Notwithstanding any provision of this Article 2 to the contrary, should the
applicable Billing Agent fail to pay EPCO, when due, any amounts owing in respect of the applicable
EPCO Services, except as set forth in the third succeeding sentence, upon 30 days’ notice, EPCO may
terminate this Article 2 as to those EPCO Services that relate to the unpaid portion of the
invoice. Should there be a dispute as to the propriety of invoiced amounts, the applicable Billing
Agent shall pay all undisputed amounts on each invoice, but shall be entitled to withhold payment
of any amount in dispute and shall promptly notify EPCO of such disputed amount. EPCO shall
promptly provide the applicable Billing Agent with records relating to the disputed amount so as to
enable EPCO and the applicable Partnership Entities to resolve the dispute. So long as such
parties are attempting in good faith to resolve the dispute, EPCO shall not be entitled to
terminate the EPCO Services that relate to the disputed amount.

     2.6    Input Regarding EPCO Services. Subject to the Conflicts Policies and Procedures attached as
Exhibit B, any records, information or other input from the Partnership Entities that is
necessary for EPCO to perform any EPCO Services shall be submitted, upon EPCO’s written request
therefor, to EPCO by such Partnership Entities. If the Partnership Entities fail to supply such
records, information or other input to EPCO and such failure renders EPCO’s performance of any EPCO
Services unreasonably difficult, in EPCO’s reasonable judgment, EPCO,
upon reasonable notice to the applicable Partnership Entity, may refuse to perform such EPCO
Services until such records, information or other input is supplied.

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     2.7    Limitation Regarding EPCO Services. The Partnership Entities acknowledge that EPCO shall only
be required to perform and provide (i) those EPCO Services with respect to the business of such
Partnership Entities as operated on the Effective Date in the case of the EPD Partnership Entities,
the TPP Partnership Entities, and the EPE Partnership Entities, and as of the closing date of DEP’s
initial public offering, in the case of the DEP Partnership Entities, and (ii) such additional EPCO
Services as may be mutually agreed orally or in writing by EPCO and the Partnership Entities, which
agreement regarding additional or fewer EPCO Services shall reflect an appropriate adjustment to
the applicable Administrative Services Fee. EPCO shall not be required to perform any EPCO
Services hereunder for the benefit of any Person other than the Partnership Entities.

     2.8    Representations Regarding Use of Services. The Partnership Entities represent and agree that
they will use the EPCO Services only in accordance with all applicable federal, state and local
laws and regulations, and in accordance with the reasonable conditions, rules, regulations, and
specifications that may be set forth in any manuals, materials, documents, or instructions
furnished from time to time by EPCO to such Partnership Entities. EPCO reserves the right to take
all actions, including, without limitation, termination of any portion of the EPCO Services for any
Partnership Entity that it reasonably believes is required to be terminated in order to assure
compliance with applicable laws and regulations.

     2.9    Warranties; Limitation of Liability. The EPCO Services shall be provided in accordance with
the Services Standard. EXCEPT AS SET FORTH IN THE PRECEDING SENTENCE, EPCO MAKES NO (AND HEREBY
DISCLAIMS AND NEGATES ANY AND ALL) WARRANTIES OR REPRESENTATIONS WHATSOEVER, EXPRESS OR IMPLIED,
WITH RESPECT TO THE EPCO SERVICES. IN NO EVENT SHALL EPCO OR ANY OF ITS AFFILIATES BE LIABLE TO
ANY OF THE PERSONS RECEIVING ANY EPCO SERVICES OR TO ANY OTHER PERSON FOR ANY EXEMPLARY, PUNITIVE,
INDIRECT, INCIDENTAL, CONSEQUENTIAL, OR SPECIAL DAMAGES RESULTING FROM ANY ERROR IN THE PERFORMANCE
OF SUCH SERVICE, REGARDLESS OF WHETHER THE PERSON PROVIDING SUCH SERVICE, ITS AFFILIATES, OR OTHERS
MAY BE WHOLLY, CONCURRENTLY, PARTIALLY, OR SOLELY NEGLIGENT OR OTHERWISE AT FAULT, EXCEPT TO THE
EXTENT SUCH EXEMPLARY, PUNITIVE, INDIRECT, INCIDENTAL, CONSEQUENTIAL OR SPECIAL DAMAGES ARE PAID BY
THE PARTY INCURRING SUCH DAMAGES TO A THIRD PARTY.

     2.10    Force Majeure. EPCO shall have no obligation to perform the EPCO Services if its failure to
do so is caused by or results from any act of God, governmental action, natural disaster, strike,
failure of essential equipment, or any other cause or circumstance, whether similar or dissimilar
to the foregoing causes or circumstances, beyond the reasonable control of EPCO.

     2.11    Affiliates. At its election, EPCO may cause one or more of its Affiliates or third party
contractors reasonably acceptable to the Party receiving any EPCO Services to provide such EPCO
Services; provided, however, EPCO shall remain responsible for the provision of such EPCO Service
in accordance with this Agreement.

     2.12    Dedication of EPCO Employees. EPCO shall cause the employees initially set forth on
Schedule 2.12 to perform EPCO Services exclusively for the benefit of the corresponding DEP
Partnership Entity or its successor set forth on Schedule 2.12. In addition, EPCO shall
designate and cause such additional personnel necessary to provide EPCO Services exclusively for
the benefit of such entities or any other DEP Partnership Entity or its successor as DEP Holdings
shall reasonably request.

ARTICLE 3: USE OF NAME AND MARK

     3.1    Grant of License. Effective as of October 1, 2004, EPD OLP has granted EPCO a worldwide
royalty-free, five year right and license to use the Name and Mark pursuant to the License
Agreement.

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     3.2    Reimbursement of Costs. EPD OLP shall reimburse EPCO for the cost of removing the Name and
Mark from EPCO’s trucks in order to meet the schedule for removal of all Names and Marks on or
before the end of the term of the License Agreement.

ARTICLE 4: EPCO’S INDEMNIFICATION FOR EXCLUDED LIABILITIES

     4.1    Indemnification. From and after the date hereof and subject to the remaining provisions of
this Article 4, EPCO shall indemnify, defend and hold harmless the Partnership Entities from and
against any loss, cost, claim, liability, prepayment or similar penalty, damage, expense, attorneys
fees, judgment, award or settlement of any kind or nature whatsoever (other than out-of-pocket
costs and expenses incurred by the Partnership Entities in connection with the discharge of their
obligations pursuant to Section 4.2(b)) (collectively, “Losses”) incurred by the Partnership
Entities in connection with the Excluded Liabilities; provided, however, in no event shall such
indemnification obligation, or the term “Losses,” cover or include exemplary, punitive, special,
consequential, indirect, or incidental damages or lost profits suffered by the Partnership Entities
in connection with the Excluded Liabilities, except to the extent such exemplary, punitive,
special, consequential, indirect or incidental damages or lost profits are actually paid by any
Partnership Entity to a third party.

     4.2    Indemnification Procedures.

          (a) EPCO shall have the right to control all aspects of the defense of any claims (and any
counterclaims) related to the Excluded Liabilities, including, without limitation, the selection of
counsel, determination of whether to appeal any decision of any court and the settling of any such
matter or any issues relating thereto; provided, however, that no such settlement shall be entered
into without the consent of the applicable Partnership Entities unless (i) it includes a full
release of the applicable Partnership Entities from such matter or issues, as the case may be or
(ii) following such settlement there is no realistic scenario under which the applicable
Partnership Entities could be held liable for such matter or issues.

          (b) The Partnership Entities agree, at their own cost and expense, to cooperate fully with
EPCO with respect to all aspects of the defense of any claims related to the Excluded Liabilities,
including, without limitation, the prompt furnishing to EPCO of any correspondence or other notice
relating thereto that the applicable Partnership Entities may receive, permitting the names of the
applicable Partnership Entities to be utilized in connection with such defense and the making
available to EPCO of any files, records or other information of the applicable Partnership Entities
that EPCO considers relevant to such defense; provided, however, that in connection therewith EPCO
agrees to use reasonable efforts to minimize the impact thereof on the operations of such
Partnership Entities. In no event shall the obligation of the applicable Partnership Entities to
cooperate with EPCO as set forth in the immediately preceding sentence be construed as imposing
upon the applicable Partnership Entities an obligation to hire and pay for counsel in connection
with the defense of any claims related to the Excluded Liabilities.

ARTICLE 5: OTHER AGREEMENTS

     5.1    Insurance Matters. EPCO hereby agrees to cause the Partnership Entities to be named as
additional insureds in EPCO’s insurance program, as in effect from time to time. Subject to
Section 2.5, each of the Partnership Entities shall be allocated, and pay for, such insurance
coverage in an amount equal to EPCO’s cost of insuring the assets and operations of such
partnership entities.

     5.2    Sublease of Equipment. Effective June 1, 1998, EPCO and EPD OLP entered into one or more
Sublease Agreements (the “Sublease Agreements”), pursuant to which EPCO agreed to sublease to EPD
OLP the equipment covered by the Retained Leases. EPCO has assigned to EPD OLP all options held by
EPCO to purchase any and all equipment subject to the Sublease Agreements and the Retained Leases.

     5.3    EPCO’s Employees.

          (a) The obligation of each Billing Agent to pay the Administrative Services Fee shall, as such
obligation relates to EPCO’s expenses incurred to compensate its employees providing the EPCO
Services,

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reimburse EPCO for the appropriate pro rata cost of such employees’ salaries, wages, bonuses,
benefits, social security and other taxes, workers compensation insurance, retirement and insurance
benefits, training, and other direct and indirect costs of such employee fringe benefits. The
applicable Billing Agent shall not be obligated to pay any amount directly to EPCO’s employees;
provided, however, if EPCO ever fails to pay any employee providing EPCO Services within 30 days
following the date such employee’s payment is due:

          (i) the applicable Billing Agent or any Affiliate may (w) pay such employee directly,
(x) employ such employee directly, (y) notify EPCO and begin to pay all employees providing
EPCO Services directly, or (z) notify EPCO that the portion of this Agreement relating to
the EPCO Services is terminated and employ directly any or all of such employees, or employ
such other individuals as the applicable Billing Agent and its Affiliates may choose in
their sole discretion, and

          (ii) EPCO shall reimburse the applicable Billing Agent for any amount that such Billing
Agent or its Affiliate paid to EPCO, for EPCO’s employees providing the EPCO Services, that
EPCO did not pay to, or on behalf of, such employees.

          (b) Notwithstanding anything in Section 5.3(a) to the contrary, the applicable Billing Agent,
shall have the right, at any time upon at least 90 days notice to EPCO, to terminate the portion of
this Agreement relating to the EPCO Services and to employ any or all of EPCO’s employees providing
the EPCO Services directly, or employ such other individuals as the applicable Billing Agent or its
Affiliates may choose in its sole discretion.

     5.4    Business Opportunities.

          (a) If any member of the EPCO Group, the EPE Partnership Entities, the EPD Partnership
Entities, or the DEP Partnership Entities (the “Business Opportunity Parties”) is offered by a
third party, or discovers an opportunity to acquire from a third party, Equity Securities (an
“Equity Business Opportunity”), the Business Opportunity Party that is offered or discovers such
Equity Business Opportunity shall promptly advise the Board of Directors of EPE GP and present such
Equity Business Opportunity to EPE. EPE shall be presumed to desire to acquire the Equity
Securities until such time as EPE GP advises the EPCO Group, EPD GP (on behalf of the EPD
Partnership Entities) and DEP Holdings (on behalf of the DEP Partnership Entities) that EPE has
abandoned the pursuit of such Equity Business Opportunity. In the event that the purchase price of
the Equity Securities is reasonably likely to equal or exceed $100 million, any decision to decline
the Equity Business Opportunity shall be made by the Chief Executive Officer of EPE GP after
consultation with and subject to the approval of its Audit and Conflicts Committee. If the
purchase price is reasonably likely to be less than $100 million, the Chief Executive Officer of
EPE GP may make the determination to decline the Equity Business Opportunity without consulting the
Audit and Conflicts Committee of EPE GP. In the event that EPE abandons the Equity Business
Opportunity and so notifies the EPCO Group, EPD GP (on behalf of the EPD Partnership Entities) and
DEP Holdings (on behalf of the DEP Partnership Entities), EPD shall have the second right to pursue
such Equity Business Opportunity. EPD shall be presumed to desire to acquire the equity securities
until such time as EPD GP advises the EPCO Group and DEP Holdings (on behalf of the DEP Partnership
Entities) that EPD has abandoned the pursuit of such Equity Business Opportunity. In determining
whether or not to pursue the Equity Business Opportunity, EPD will follow the same procedures
applicable to EPE, as described above but utilizing EPD GP’s Chief Executive Officer and Audit and
Conflicts Committee. EPD, in its sole discretion, may also keep and designate such Equity Business
Opportunity for the benefit and pursuit by DEP. In such event, DEP shall have the opportunity to
pursue such acquisition until the earlier of (i) the Board of Directors of DEP Holdings notifies
EPD that DEP does not intend to pursue such Equity Business Opportunity or (ii) EPD abandons such
Equity Business Opportunity for both itself and for the benefit of DEP. In the event that EPD
abandons the Equity Business Opportunity and so notifies the EPCO Group and DEP Holdings (on behalf
of the DEP Partnership Entities), the EPCO Group may either pursue the Equity Business Opportunity
or offer the Equity Business Opportunity to EPCO Holdings, or the TPP Partnership Entities, in
either case, without any further obligation to the Business Opportunity Parties. Notwithstanding
anything to the contrary in this agreement, the Chief Executive Officer of EPE GP is not required
to present such Equity Business Opportunity equal to or in excess of $100 million to the Audit and
Conflicts Committee of EPE GP in order to decline such opportunity unless such opportunity is to be
reoffered to, or is desired to be taken by, another Party to this Agreement or their Affiliates.

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          (b) If any Business Opportunity Party is offered by a third party, or discovers a business
opportunity not covered by Section 5.4(a) (a “Non-Equity Securities Opportunity”), the Business
Opportunity Party that is offered or discovers such Non-Equity Securities Opportunity shall
promptly advise the Board of Directors of EPD GP and present such Non-Equity Securities Opportunity
to EPD. EPD shall be presumed to desire to pursue the Non-Equity Securities Opportunity until such
time as EPD GP advises the EPCO Group, EPE GP (on behalf of the EPE Partnership Entities) and DEP
Holdings (on behalf of the DEP Partnership Entities) that EPD has abandoned the pursuit of such
Non-Equity Securities Opportunity.

     In the event that the purchase price of the Non-Equity Securities Opportunity is reasonably
likely to equal or exceed $100 million, any decision to decline the Non-Equity Securities
Opportunity shall be made by the Chief Executive Officer of EPD GP after consultation with and
subject to the approval of its Audit and Conflicts Committee. If the purchase price is reasonably
likely to be less than $100 million, the Chief Executive Officer of EPD GP may make the
determination to decline the Non-Equity Securities Opportunity without consulting the Audit and
Conflicts Committee of EPD GP. Notwithstanding anything to the contrary in this agreement, the
Chief Executive Officer of EPD GP is not required to present such Non-Equity Securities Opportunity
equal to or in excess of $100 million to such Audit and Conflicts Committee in order to decline
such opportunity unless such opportunity is to be reoffered to, or is desired to be taken by,
another Party to this Agreement or their Affiliates.

     EPD, in its sole discretion, may also keep and designate such Non-Equity Securities
Opportunity for the benefit and pursuit by DEP. In such event, DEP shall have the opportunity to
pursue such acquisition until the earlier of (i) the Board of Directors of DEP Holdings notifies
EPD that DEP does not intend to pursue such Non-Equity Securities Opportunity or (ii) EPD abandons
such Non-Equity Securities Opportunity for both itself and for the benefit of DEP.

     In the event that EPD abandons the Non-Equity Securities Opportunity and so notifies the EPCO
Group, EPE GP (on behalf of the EPE Partnership Entities) and DEP Holdings (on behalf of the DEP
Partnership Entities), EPE shall have the second right to pursue such Non-Equity Securities
Opportunity. EPE shall be presumed to desire to pursue the Non-Equity Securities Opportunity until
such time as EPE GP advises the EPCO Group that EPE has abandoned the pursuit of such opportunity.
In determining whether or not to pursue the Non-Equity Securities Opportunity, EPE will follow the
same procedures applicable to EPD, as described above but utilizing EPE GP’s Chief Executive
Officer and Audit and Conflicts Committee.

     In the event that EPE abandons the Non-Equity Securities Opportunity and so notifies the EPCO
Group, the EPCO Group may either pursue the Non-Equity Securities Opportunity or offer the
Non-Equity Securities Opportunity to EPCO Holdings or the TPP Partnership Entities, in either case,
without any further obligation to the Business Opportunity Parties.

          (c) None of the EPCO Group, the EPE Partnership Entities, the EPD Partnership Entities nor the
DEP Partnership Entities shall have any obligation to present any Business Opportunity to any of
the TPP Partnership Entities. None of the TPP Partnership Entities shall have any obligation to
present any Business Opportunity to the EPCO Group, the EPE Partnership Entities, the EPD
Partnership Entities or the DEP Partnership Entities.

          (d) Any Business Opportunity offered to or discovered by any EPCO employee solely responsible
for the business and affairs of any of the TPP Partnership Entities shall not be subject to the
Business Opportunity agreements contained in this Section 5.4 other than Section 5.4(c).

          (e) Any Business Opportunity offered to or discovered by an EPCO employee solely responsible
for the business and affairs of any of the EPE Partnership Entities shall be considered a Business
Opportunity of the EPE Partnership Entities for purposes of this Section 5.4.

          (f) Any Business Opportunity offered to or discovered by an EPCO employee solely responsible
for the business and affairs of any of the EPD Partnership Entities shall be considered a Business
Opportunity of the EPD Partnership Entities for purposes of this Section 5.4.

-7-

 

          (g) Any Business Opportunity offered to or discovered by EPCO employee solely responsible for
the business and affairs of any of the DEP Partnership Entities shall be considered a Business
Opportunity of the DEP Partnership Entities for purposes of this Section 5.4 only to the extent
expressly designated as an Business Opportunity for the DEP Partnership Entities in accordance with
the agreement of limited partnership of DEP or DEP OLP, and otherwise shall be considered a
Business Opportunity of the EPD Partnership Entities for purposes of this Section 5.4. DEP and DEP
OLP acknowledge and agree that such partnerships have renounced their interest in Business
Opportunities to the extent set forth in their respective partnership agreements, and hereby agree
that, to the extent such opportunities are abandoned by EPD, EPE, the EPCO Group or other third
parties may rely on such agreements in their respective partnership agreements in connection with
their pursuit of such Business Opportunities.

          (h) Any Business Opportunity offered to or discovered by any EPCO employee who performs Shared
Services shall be allocated to the EPCO Group, the EPE Partnership Entities, the EPD Partnership
Entities and/or the TPP Partnership Entities:

          (i) to the extent that the Business Opportunity is first presented to such employee in
such employee’s capacity as a representative of the EPCO Group, the EPE Partnership
Entities, the EPD Partnership Entities, the DEP Partnership Entities, or the TPP Partnership
Entities, such Business Opportunity shall be allocated to the Partnership Entities then
represented by such employee (or to the EPD Partnership Entities with respect to a
representative of the DEP Partnership Entities to the extent not expressly designated as an
Business Opportunity for the DEP Partnership Entities in accordance with the agreement of
limited partnership of DEP or DEP OLP); and

          (ii) to the extent that the Business Opportunity is first presented to such employee in
such employee’s individual capacity without regard to his representation of any Partnership
Entity, such Business Opportunity shall be allocated to the Partnership Entity for which
such employee devotes the most significant amount of such employee’s time (or to the EPD
Partnership Entities with respect to a representative of the DEP Partnership Entities to the
extent not expressly designated as an Business Opportunity for the DEP Partnership Entities
in accordance with the agreement of limited partnership of DEP or DEP OLP).

          (i) EPCO has caused all EPCO employees who may receive Business Opportunities to acknowledge
and agree to comply with the Business Opportunity agreements set forth in this Section 5.4.

     5.5    Adoption of Policies and Procedures. The Boards of Directors of EPCO, EPE GP, EPD GP, DEP
Holdings and TPP GP have adopted the Conflicts Policies and Procedures attached hereto as
Exhibit B (the “Conflicts Policy”). EPCO agrees to, and agrees to use all reasonable
efforts to cause its employees to, comply with the Conflicts Policy.

ARTICLE 6: MISCELLANEOUS

     6.1    Choice of Law; Submission to Jurisdiction. This Agreement shall be subject to and governed by
the laws of the State of Texas. Each Party hereby submits to the exclusive jurisdiction of the
state and federal courts in the State of Texas and to exclusive venue in Houston, Harris County,
Texas.

     6.2    Notices. All notices or requests or consents provided for or permitted to be given pursuant to
this Agreement must be in writing and must be given by depositing same in the United States mail,
addressed to the Party to be notified, postpaid, and registered or certified with return receipt
requested or by delivering such notice in person or by facsimile to such Party. Notice given by
personal delivery or mail shall be effective upon actual receipt. Notice given by facsimile shall
be effective upon actual receipt if received during the recipient’s normal business hours, or at
the beginning of the recipient’s next business day after receipt if not received during the
recipient’s normal business hours. All notices to be sent to a Party pursuant to this Agreement
shall be sent to or made at the address set forth below such Party’s signature to this Agreement,
or at such other address as such Party may stipulate to the other Parties in the manner provided in
this Section 6.2.

-8-

 

     6.3    Entire Agreement; Supersedure. This Agreement constitutes the entire agreement of the Parties
relating to the matters contained herein, superseding all prior contracts or agreements among the
parties, whether oral or written, relating to the matters contained herein.

     6.4    Effect of Waiver of Consent. No Party’s express or implied waiver of, or consent to, any
breach or default by any Party in the performance by such Party of its obligations hereunder shall
be deemed or construed to be a consent or waiver to or of any other breach or default in the
performance by such Party of the same or any other obligations of such Party hereunder. Failure on
the part of a Party to complain of any act of any Party or to declare any Party in default,
irrespective of how long such failure continues, shall not constitute a waiver by such Party of its
rights hereunder until the applicable statute of limitations period has run.

     6.5    Amendment or Modification. This Agreement may be amended or modified from time to time only by
the agreement of all the Parties affected by any such amendment; provided, however, that EPE, EPD,
DEP and TPP may not, without the prior approval of its Audit and Conflicts Committee, agree to any
amendment or modification of this Agreement that, in the reasonable discretion of EPE GP, EPD GP,
DEP Holdings, or TPP GP, as applicable, will materially and adversely affect the holders of units
of EPE, EPD, DEP or TPP, as applicable.

     6.6    Assignment. No Party shall have the right to assign or delegate its rights or obligations
under this Agreement without the consent of the other Parties.

     6.7    Counterparts. This Agreement may be executed in any number of counterparts with the same
effect as if all Parties had signed the same document. All counterparts shall be construed
together and shall constitute one and the same instrument.

     6.8    Severability. If any provision of this Agreement or the application thereof to any Party or
circumstance shall be held invalid or unenforceable to any extent, the remainder of this Agreement
and the application of such provision to other Parties or circumstances shall not be affected
thereby and shall be enforced to the greatest extent permitted by law.

     6.9    Further Assurances. In connection with this Agreement and all transactions contemplated by
this Agreement, each Party hereto agrees to execute and deliver such additional documents and
instruments and to perform such additional acts as may be necessary or appropriate to effectuate,
carry out and perform all of the terms, provisions and conditions of this Agreement and all such
transactions.

     6.10    Withholding or Granting of Consent. Unless the consent or approval of a Party is expressly
required not to be unreasonably withheld (or words to similar effect), each Party may, with respect
to any consent or approval that it is entitled to grant pursuant to this Agreement, grant or
withhold such consent or approval in its sole and uncontrolled discretion, with or without cause,
and subject to such conditions as it shall deem appropriate.

     6.11    U.S. Currency. All sums and amounts payable or to be payable pursuant to the provisions of
this Agreement shall be payable in coin or currency of the United States of America that, at the
time of payment, is legal tender for the payment of public and private debts in the United States
of America.

     6.12    Laws and Regulations. Notwithstanding any provision of this Agreement to the contrary, no
Party hereto shall be required to take any act, or fail to take any act, under this Agreement if
the effect thereof would be to cause such Party to be in violation of any applicable law, statute,
rule or regulation.

     6.13    Negation of Rights of Third Parties. The provisions of this Agreement are enforceable solely
by the Parties, and no limited partner of EPE, EPD, DEP or TPP or other Person shall have the right
to enforce any provision of this Agreement or to compel any Party to comply with the terms of this
Agreement.

[SIGNATURE PAGES FOLLOW]

-9-

 

     IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed by their
respective authorized officers as of                     , 2007, to be effective as of the Effective Date.

	 	 	 	 	 
	 	EPCO, INC. (formerly known as Enterprise

Products Company, a Texas corporation)

 	 
	 	By:  	 	 
	 	 	Name:  	Richard H. Bachmann 	 
	 	 	Title:  	Executive Vice President and

Chief Legal Officer 	 
	 

Address for Notice:

1100 Louisiana, 10th Floor

Houston, Texas 77002

Facsimile No.: (713) 381-6500

[signature page]

 

 

	 	 	 	 	 
	 	ENTERPRISE GP HOLDINGS L.P.

EPE HOLDINGS, LLC

Individually and as Sole General Partner of

Enterprise GP Holdings L.P.

 	 
	 	By:  	 	 
	 	 	W. Randall Fowler 	 
	 	 	Senior Vice President and 
Chief
Financial Officer 	 
	 

Address for Notice: 

1100 Louisiana, 10th Floor

Houston, Texas 77002

Facsimile No.: (713) 381-          

	 	 	 	 	 
	 
	 	ENTERPRISE PRODUCTS PARTNERS L.P.

ENTERPRISE PRODUCTS OPERATING L.P.

ENTERPRISE PRODUCTS GP, LLC,

Individually and as Sole General Partner of

Enterprise Products Partners L.P., and

ENTERPRISE PRODUCTS OLPGP, INC.,

Individually and as Sole General Partner of

Enterprise Products Operating L.P.

 	 
	 	By:  	 	 
	 	 	W. Randall Fowler 	 
	 	 	Senior Vice President and Treasurer 	 
	 

Address for Notice:

1100 Louisiana, 10th Floor

Houston, Texas 77002

Facsimile No.: (713) 381-          

 

 

	 	 	 	 	 
	 	DUNCAN ENERGY PARTNERS L.P.

DEP HOLDINGS, LLC

Individually and as Sole General Partner

of Duncan Energy Partners L.P.

 	 
	 	By:  	 	 
	 	 	W. Randall Fowler 	 
	 	 	Senior Vice President and Treasurer 	 

Address for Notice:

1100 Louisiana, 10th Floor

Houston, Texas 77002

Facsimile No.: (713) 381-          

	 	 	 	 	 
	 	 
DEP OPERATING PARTNERSHIP, L.P.

 	 
	 	By:  	DEP OLPGP, LLC, as Sole General Partner
 	 
	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Randall Fowler 	 
	 	 	Senior Vice President and Treasurer 	 
	 

Address for Notice:

1100 Louisiana, 10th Floor

Houston, Texas 77002

Facsimile No.: (713) 381-          

[signature page]

 

 

	 	 	 	 	 
	 	TEPPCO PARTNERS, L.P.

TEXAS EASTERN PRODUCTS PIPELINE

COMPANY, LLC

Individually and as Sole General Partner of

TEPPCO Partners, L.P.

 	 
	 	By:  	 	 
	 	 	Patricia A. Totten, Vice President and 	 
	 	 	General Counsel 	 
	 

Address for Notice:

1100 Louisiana, Suite 1600

Houston, Texas 77002

Facsimile No.: (713) 381-4039

	 	 	 	 	 
	 	 
TE PRODUCTS PIPELINE COMPANY,
LIMITED PARTNERSHIP

TEPPCO MIDSTREAM COMPANIES, L.P.

TCTM, L.P.

TEPPCO GP, Inc.

Individually and as Sole General Partner of TE

Products Pipeline Company, Limited Partnership,

TEPPCO Midstream Companies, L.P. and TCTM,

L.P.

 	 
	 	By:  	 	 
	 	 	Patricia A. Totten, Vice President and 	 
	 	 	General Counsel 	 
	 

Address for Notice:

1100 Louisiana, Suite 1600

Houston, Texas 77002

Facsimile No.: (713) 381-4039

[signature page]

 

 

Exhibit A

DEFINED TERMS

     “Administrative Services Fee” shall have the meaning set forth in Section 2.2.

     “Affiliate” shall mean, with respect to any Person, any other Person that directly or
indirectly through one or more intermediaries controls, is controlled by or is under common control
with, the Person in question. As used herein, the term “control” means the possession, direct or
indirect, of the power to direct or cause the direction of the management and policies of a Person,
whether through ownership of voting securities, by contract or otherwise. Notwithstanding the
foregoing, a Person shall only be considered an “Affiliate” of the general partner of EPE, EPD, DEP
or TPP, as applicable, if such Person owns, directly or indirectly, 50% or more of the voting
securities of such general partner or otherwise possesses the sole power to direct or cause the
direction of the management and policies of such general partner.

     “Agreement” shall mean this Fourth Amended and Restated Administrative Services Agreement, as
it may be amended, modified, or supplemented from time to time.

     “Audit and Conflicts Committee” means a committee of the Board of Directors of EPE GP, EPD GP.
DEP Holdings or TPP GP, as applicable, composed entirely of three or more directors who meet the
independence, qualification and experience requirements established by the Securities Exchange Act
and the rules and regulations of the Commission thereunder and by The New York Stock Exchange, and
with respect to EPD GP and TPP GP, at least two of whom also meet the S&P Criteria.

     “Billing Agent” shall mean (i) in the case of the EPE Partnership Entities, EPE Holdings, LLC,
(ii) in the case of the EPD Partnership Entities, Enterprise Products GP, LLC, (iii) in the case of
the DEP Partnership Entities, DEP Holdings, and (iv) in the case of TPP, TEPPCO GP, Inc.

     “Business Opportunity” shall mean, collectively or individually, as the context may require,
an Equity Business Opportunity and/or a Non-Equity Securities Opportunity.

     “Business Opportunity Parties” shall have the meaning set forth in Section 5.4(a).

     “Commission” shall mean the United States Securities and Exchange Commission.

     “DEP” shall have the meaning set forth in the Preamble.

     “DEP Holdings” shall have the meaning set forth in the Preamble.

     “DEP OLP” shall have the meaning set forth in the Preamble.

     “DEP Partnership Entities” shall mean DEP Holdings, DEP, DEP OLP and any Affiliate controlled
(and only so long as such Affiliates are controlled) by DEP Holdings, DEP or DEP OLP (as the term
“control” is used in the definition of “Affiliate”).

     “Effective Date” shall have the meaning set forth in the Preamble.

     “EPCO” shall have the meaning set forth in the Preamble.

     “EPCO Group” shall mean EPCO and its Affiliates (other than the Partnership Entities).

     “EPCO Holdings” shall have the meaning set forth in Section 2.1(a).

     “EPCO Services” shall have the meaning set forth in Section 2.1.

A-1

 

     “EPD” shall have the meaning set forth in the Preamble.

     “EPD GP” shall have the meaning set forth in the Preamble.

     “EPD OLP” shall have the meaning set forth in the Preamble.

     “EPD OLPGP” shall have the meaning set forth in the Preamble.

     “EPD Partnership Entities” shall mean EPD GP, EPD, EPD OLP and any Affiliate controlled (and
only so long as such Affiliates are controlled) by EPD GP, EPD or EPD OLP (as the term “control” is
used in the definition of “Affiliate”).

     “EPE” shall have the meaning set forth in the Preamble.

     “EPE GP” shall have the meaning set forth in the Preamble.

     “EPE Partnership Entities” shall mean EPE GP, EPE and any Affiliate controlled (and only so
long as such Affiliates are controlled) by EPE GP or EPE (as the term “control” is used in the
definition of “Affiliate”) but excluding the EPD Partnership Entities.

     “Equity Business Opportunity” shall have the meaning set forth in Section 5.4(a).

     “Equity Securities” shall mean (i) general partner interests (or securities which have
characteristics similar to general partner interests) and incentive distribution rights or similar
rights in publicly traded partnerships or interests in Persons that own or control such general
partner or similar interests (collectively, “GP Interests”) and securities convertible,
exercisable, exchangeable or otherwise representing ownership or control of such GP Interests and
(ii) incentive distribution rights and limited partner interests (or securities which have
characteristics similar to incentive distribution rights or limited partner interests) in publicly
traded partnerships or interests in Persons that own or control such limited partner or similar
interests (collectively, “non-GP Interests”); provided that such non-GP Interests are associated
with GP Interests and are owned by the owners of GP Interests or their respective Affiliates.

     “Excluded Liabilities” shall mean the following liabilities and obligations:

     (a) all indebtedness of EPCO and its Affiliates other than the Partnership Entities for
borrowed money; and

     (b) any income tax liability of EPCO that may result from the consummation of the transactions
contemplated by the First Amendment, the Second Amendment or this Agreement.

     “First Amendment” shall have the meaning set forth in the Preamble.

     “Independent Director” shall mean an individual who meets the independence, qualification and
experience requirements of the New York Stock Exchange

     “License Agreement” shall mean that certain Trademark License Agreement, effective August 18,
2004, by and between EPD OLP and EPCO.

     “Losses” shall have the meaning set forth in Section 4.1.

     “Name” and “Mark” shall mean the name “Enterprise”, as described in Registration Number
1,236,995 registered on May 10, 1983 and issued by the United States Patent and Trademark Office,
and the mark “Enterprise”, as described in Application Registration Number 1,292,612 registered on
September 4, 1984 and issued by the United States Patent and Trademark Office.

A-2

 

     “Non-Equity Securities Opportunity” shall have the meaning set forth in Section 5.4(b).

     “Party” shall mean any one of the Persons that executes this Agreement.

     “Partnership Entity” or “Partnership Entities” shall mean the individual or collective
reference, as the context may require, to the EPD Partnership Entities, the EPE Partnership
Entities, the DEP Partnership Entities and/or the TPP Partnership Entities.

     “Person” means an individual or a corporation, limited liability company, partnership, joint
venture, trust, unincorporated organization, association, government agency or political
subdivision thereof or other entity.

     “Prudent Industry Practices” shall mean, at a particular time, any of the practices, methods
and acts which, in the exercise of reasonable judgment, will result in the proper operation and
maintenance of the assets owned by a Party or its Affiliates and shall include, without limitation,
the practices, methods and acts engaged in or approved by a significant portion of the industry at
such time with respect to the assets of the same or similar types as the assets owned by such Party
or its Affiliates. Prudent Industry Practices are not intended to be limited to optimum practices,
methods or acts, to the exclusion of all others, but rather represent a spectrum of possible
practices, methods and acts which could have been expected to accomplish the desired result at a
commercially reasonable cost in a reliable, safe and timely fashion, in compliance with the
applicable limited partnership agreement and limited liability company agreement and in accordance
with all applicable laws. Prudent Industry Practices are intended to entail the same standards as
the Parties would, in the prudent management of their own properties, use from time to time.

     “Retained Leases” shall mean the operating leases relating to (i) one cogeneration unit, and
(ii) approximately 100 rail cars, the liabilities of each of which were retained by EPCO in
connection with the formation of EPD and EPD OLP.

     “S&P Criteria” shall mean a duly appointed member of the Audit and Conflicts Committee who had
not been, at the time of such appointment or at any time in the preceding five years, (a) a direct
or indirect legal or beneficial owner of interests in EPD or TPP, as applicable, or any of its
Affiliates (excluding de minimis ownership interests having a value of less than $1 million), (b) a
creditor, supplier, employee, officer, director, family member, manager or contractor of EPD or
TPP, as applicable, or any of its Affiliates, or (c) a person who controls (whether directly,
indirectly or otherwise) EPD or TPP, as applicable, or any of its Affiliates or any creditor,
supplier, employee, officer, director, manager or contractor of EPD or TPP, as applicable, or any
of its Affiliates.

     “Second Amendment” shall have the meaning set forth in the Preamble.

     “Securities Act” shall mean the Securities Act of 1933, as amended, supplemented or restated
from time to time, and any successor to such statute.

     “Securities Exchange Act” shall mean the Securities Exchange Act of 1934, as amended,
supplemented or restated from time to time, and any successor to such statute.

     “Services Standard” shall mean, with respect to the performance of the EPCO Services, the good
faith undertaking, on a commercially reasonable basis, to perform the EPCO Services (i) in the case
of the EPD Partnership Entities, at least the same quality and manner as EPCO Services were
provided by EPCO or its Affiliates to the EPD Partnership Entities during calendar year 2004, (ii)
in the case of the TPP Partnership Entities, at least the same quality and manner as services were
provided by Duke Energy Field Services LLC or its Affiliates to the TPP Partnership Entities during
calendar year 2004 and (iii) in all material respects in compliance with applicable laws and
Prudent Industry Practices.

     “Shared Services” shall mean the performance of services for more than one of the groups of
entities comprising the EPCO Group, the EPE Partnership Entities, the EPD Partnership Entities, the
DEP Partnership Entities and the TPP Partnership Entities.

A-3

 

     “Sublease Agreements” shall have the meaning set forth in Section 5.2.

     “TCTM” shall have the meaning set forth in the Preamble.

     “TE LP” shall have the meaning set forth in the Preamble.

     “TEPPCO Midstream” shall have the meaning set forth in the Preamble.

     “TEPPCO Inc.” shall have the meaning set forth in the Preamble.

     “Third Amendment” shall have the meaning set forth in the Recitals.

     “TPP” shall have the meaning set forth in the Preamble.

     “TPP GP” shall have the meaning set forth in the Preamble.

     “TPP Partnership Entities” shall mean TPP GP, TPP and any Affiliate controlled (and only so long as
such Affiliates are controlled) by TPP GP or TPP (as the term “control” is used in the definition
of “Affiliate”).

A-4

 

Exhibit B

Conflicts Policies and Procedures

     Capitalized terms used but not defined in this Exhibit B shall have the meanings assigned to
such terms in that certain Fourth Amended and Restated Administrative Services Agreement, effective
                    , 2007, of which this Exhibit B forms a part.

     This Exhibit B outlines the corporate governance structure and the policies and procedures
that have been adopted by EPE GP, EPD GP, DEP Holdings and TPP GP to address potential conflicts
among, protect the confidential information of, and govern the sharing of EPCO personnel among, the
Partnership Entities.

Corporate Governance

     Boards of Directors —

     (a) Independent Directors. Each of EPE GP, EPD GP, DEP Holdings and TPP GP will have
at least three Independent Directors on its board of directors. None of such Independent Directors
will overlap among EPE GP, EPD GP, DEP Holdings and TPP GP. Each of EPE GP, EPD GP, DEP Holdings
and TPP GP shall maintain a majority of Independent Directors on its board of directors to the
extent required under applicable rules of the securities exchange on which securities of EPE, EPD,
DEP and TPP trade, but otherwise shall not be required to maintain a majority of Independent
Directors on its board of directors.

     (b) Other Directors. Other than the persons expressly noted below, no director shall
serve on more than one of the boards of directors of EPE GP, EPD GP, DEP Holdings and TPP GP. Dan
L. Duncan, Robert G. Phillips, Michael A. Creel, W. Randall Fowler and/or Richard H. Bachmann may
serve on more than one of the foregoing boards of directors or any committee thereof.

     Notwithstanding the foregoing in clauses (a) and (b) above, Mr. Duncan and any one or more of
the other individuals serving as directors of EPE GP, EPD GP or DEP Holdings and any one or more of
the individuals serving as directors of TPP GP may attend the meetings of the board of directors of
the Partnership Entity of which Mr. Duncan and/or such individuals are not directors, but only at
the invitation of EPE GP, EPD GP, DEP Holdings or TPP GP, as applicable, and so long as no
information concerning Commercial and Development Activities involving Potential Overlapping Assets
is provided to Mr. Duncan and/or such individuals while in attendance at such meetings.

     Separate Commercial Management and Employees — EPCO employees performing Commercial and
Development Activities involving Potential Overlapping Assets for the EPE Partnership Entities, the
EPD Partnership Entities and/or the DEP Partnership Entities, on the one hand, and the TPP
Partnership Entities, on the other hand, shall not overlap. EPCO employees performing Commercial
and Development Activities which do not involve Potential Overlapping Assets for the EPE
Partnership Entities, the EPD Partnership Entities, the DEP Partnership Entities and/or the TPP
Partnership Entities may overlap.

     Shared Services — EPCO employees may be assigned to perform Shared Services for all or any of
the Partnership Entities. EPCO employees performing Shared Services may be appointed to officer
positions (including executive officer positions) at more than one of EPE GP, EPD GP, DEP Holdings
and TPP GP or their respective controlled Affiliates. However, as stated above, EPCO employees
performing Commercial and Development Activities for either the EPE Partnership Entities, the EPD
Partnership Entities, and/or the DEP Partnership Entities, on the one hand, or the TPP Partnership
Entities, on the other hand, may perform Shared Services for any group of Entities except to the
extent that such Shared Services constitute Commercial and Development Activities involving
Potential Overlapping Assets. As a result of their performance of Shared Services, Shared
Employees may obtain Commercial Information that relates to more than one of the groups of
Partnership Entities. To the extent that any Shared Employee has Commercial Information that
relates to the EPE Partnership Entities, the EPD Partnership Entities, the DEP Partnership Entities
and the TPP Partnership Entities and involves Potential Overlapping Assets, such Shared Employee
shall not engage in any activities to which such Commercial Information relates unless such

B-1

 

activities are approved by both the Screening Officer of the EPE Partnership Entities, the EPD
Partnership Entities, the DEP Partnership Entities and the Screening Officer of the TPP Partnership
Entities.

Information Screening for Shared Employees

     To the fullest extent possible, Shared Employees should avoid access to Commercial Information
for any Partnership Entities for which they do not perform Commercial and Development Activities.
To the extent that any Shared Employee who engages in Commercial and Development Activities becomes
privy to Commercial Information relating to Potential Overlapping Assets of any Partnership
Entities for which such employee does not perform Commercial and Development Activities, such
Shared Employee must report that fact and the nature of the Confidential Information to the
Screening Officers who will maintain a record of the name of the person, the date of the report,
and the nature of the Commercial Information obtained by the Shared Employee.

     Except as expressly permitted by the Screening Officers, to the extent required to effectively
perform the Shared Services or in connection with existing or potential joint venture arrangements
between any of the EPE Partnership Entities, the EPD Partnership Entities and the DEP Partnership
Entities, on the one hand, and any of the TPP Partnership Entities, on the other hand, (i) Shared
Employees shall not disclose Commercial Information relating to Potential Overlapping Assets of the
TPP Partnership Entities to any director, officer or employee associated with the EPE Partnership
Entities, the EPD Partnership Entities or the DEP Partnership Entities; and (ii) Shared Employees
shall not disclose Commercial Information relating to Potential Overlapping Assets of the EPE
Partnership Entities, the EPD Partnership Entities or the DEP Partnership Entities to any director,
officer or employee associated with the TPP Partnership Entities.

     Shared Employees should seek guidance on the foregoing restrictions from the Screening
Officers to the extent that they are uncertain as to an appropriate course of action.

Information Screening for Dan L. Duncan

     Mr. Dan L. Duncan and his Affiliates directly and indirectly own and control EPE GP, EPD GP,
DEP Holdings and TPP GP. As a result of the potential conflicts generated by this cross-ownership,
Mr. Duncan shall limit his access to information and his ability to control the management of the
TPP Partnership Entities as described below.

     Mr. Duncan will be screened from any information relating to the Potential Overlapping Assets
of the TPP Partnership Entities except (a) information that the TPP Partnership Entities have made
available to the public, (b) aggregated financial information and budgets of the TPP Partnership
Entities and (c) information related to environmental matters. The foregoing restrictions shall
not apply if it is determined that Mr. Duncan requires access to additional information concerning
the TPP Partnership Entities and the Screening Officer of the TPP Partnership Entities determines
that the information would not be competitively sensitive; provided, the foregoing shall apply to
the extent sharing of additional information concerning the TPP Partnership Entities (including
information concerning shippers who store NGLs in Mont Belvieu Storage Partners, L.P. terminals, or
in any other storage facility, or on the TEPPCO mainline delivery system, in each case as described
in the Consent and Order of the U.S. Federal Trade Commission applicable to the TPP Partnership
Entities) would violate any applicable governmental order.

     Mr. Duncan will not participate in activities involving Commercial Information related to
Potential Overlapping Assets of the TPP Partnership Entities. All information to be provided to
Mr. Duncan will first be given to the Screening Officer for the TPP Partnership Entities who will
ensure that all Commercial Information relating to the Potential Overlapping Assets has been
removed.

Definitions

     For purposes of these policies and procedures, capitalized terms used but not defined above
shall have the following meanings:

B-2

 

     “Commercial Information” shall mean information about Commercial and Development Activities or
other competitively sensitive information of any Partnership Entities. Commercial Information
includes information regarding prices, costs, margins, volumes and contractual terms for any
particular customer, any method, tool or computer program used to determine prices for any asset;
all plans or strategies used or adopted to negotiate, target or identify a particular customer for
any asset; all information regarding plans and prospective budgets to expand or build a new
facility; all information regarding a proposal to buy an existing facility; capacity and capacity
utilization of any facility.

     “Commercial and Development Activities” shall mean operations of the Partnership Entities
relating to sales, marketing, or other services provided to customers; operation of or proposed
changes to, such Partnership Entities’ assets, and the plans and strategies dealing with the
business of such Partnership Entities.

     “Independent Director” shall mean an individual directors who meets the independence,
qualification and experience requirements established by the Securities Exchange Act of 1934, as
amended, and the rules and regulations of the Securities and Exchange Commission thereunder and by
The New York Stock Exchange.

     “Potential Overlapping Assets” shall mean (i) with respect to the TPP Partnership Entities,
(a) the TE Products Pipeline (to the extent that such pipeline transports propane), (b) the Val
Verde Gathering System, (c) the Chaparral Pipeline, (d) the Quanah Pipeline and (e) Mont Belvieu
Storage Partners, L.P. terminals, or in any other storage facility, or on the TEPPCO mainline
delivery system (with respect to the assets described in clause (e), as described in the Consent
and Order of the U.S. Federal Trade Commission applicable to the TPP Partnership Entities) and (ii)
with respect to the EPE Partnership Entities and the EPD Partnership Entities, the Lou-Tex NGL
Pipeline, the Dixie Pipeline, the San Juan Gathering System, the Seminole Pipeline System and the
natural gas liquids storage facilities located at Mont Belvieu, Texas.

     “Screening Officer” shall mean any of Roy Monarch, Michael A. Creel, Richard H. Bachmann or
Stephanie C. Hildebrandt, or subsequent persons designated by the Boards of each of EPE GP and EPD
GP, in the case of the EPE Partnership Entities and the EPD Partnership Entities and the DEP
Partnership Entities, and William G. Manias or Patricia A. Totten, or subsequent persons designated
by the Board of TPP GP, in the case of the TPP Partnership Entities.

     “Shared Employees” shall mean EPCO employees providing Shared Services.

     “Shared Services” shall mean services provided by EPCO employees to more than one of the
groups of entities comprising the EPE Partnership Entities, the EPD Partnership Entities, the DEP
Partnership Entities and the TPP Partnership Entities and such services shall include, but not be
limited to, human resources, information technology, financial and accounting services, legal
services and such other services that do not involve Commercial and Development Activities.

B-3

 

Schedule 2.12 — Schedule of Initial Dedicated EPCO Employees

South Texas NGL Pipeline, LLC

Mont Belvieu Caverns, LLC

B-4exv10w19

 

Exhibit 10.19

OMNIBUS AGREEMENT

AMONG

ENTERPRISE PRODUCTS OPERATING L.P.

DEP HOLDINGS, LLC

DUNCAN ENERGY PARTNERS L.P.

DEP OLPGP, LLC,

DEP OPERATING PARTNERSHIP, L.P.,

ENTERPRISE LOU-TEX PROPYLENE PIPELINE L.P.

SABINE PROPYLENE PIPELINE L.P.

ACADIAN GAS, LLC

MONT BELVIEU CAVERNS, LLC

SOUTH TEXAS NGL PIPELINES, LLC

 

 

OMNIBUS AGREEMENT

     THIS OMNIBUS AGREEMENT is entered into on, and effective as of, the Closing Date, among
Enterprise Products Operating L.P., a Delaware limited partnership (“EPD OLP”), DEP
Holdings, LLC, a Delaware limited liability company (the “General Partner”), Duncan Energy
Partners L.P., a Delaware limited partnership (the “Partnership”), DEP OLPGP, LLC, a
Delaware limited liability company (the “OLPGP”), DEP Operating Partnership, L.P., a
Delaware limited partnership (the “Operating Partnership”), Enterprise Lou-Tex Propylene
Pipeline L.P., a Texas limited partnership (“Lou-Tex”), Sabine Propylene Pipeline L.P., a
Texas limited partnership (“Sabine”), Acadian Gas, LLC, a Delaware limited liability
company (“Acadian Gas”), Mont Belvieu Caverns, LLC, a Delaware limited liability company
(“Mont Belvieu Caverns”), South Texas NGL Pipelines, LLC, a Delaware limited liability
company (“South Texas NGL”, and collectively with Lou-Tex, Sabine, Acadian Gas and Mont
Belvieu Caverns, the “Initial Subsidiaries”). The above-named entities are sometimes
referred to in this Agreement each as a “Party” and collectively as the “Parties.”
Capitalized terms used in this Agreement have the meanings ascribed thereto in Article 1 of this
Agreement.

     WHEREAS, the Parties desire by their execution of this Agreement to evidence their
understanding, as more fully set forth in Article 2 of this Agreement, with respect to certain
indemnification obligations of EPD Entities.

     WHEREAS, the Parties desire by their execution of this Agreement to evidence their
understanding, as more fully set forth in Article 3 of this Agreement, with respect to certain
reimbursment obligations of EPD Entities.

     WHEREAS, the Parties desire by their execution of this Agreement to evidence their
understanding, as more fully set forth in Article 4 of this Agreement, with respect to certain
rights of first refusal EPD OLP with respect to the current and future Subsidiaries of the
Operating Partnership.

     WHEREAS, the Parties desire by their execution of this Agreement to evidence their
understanding, as more fully set forth in Article 5 of this Agreement, with respect to certain
preemptive rights of EPD Entities with respect to the Initial Subsidiaries.

     NOW, THEREFORE, in consideration of the premises and the covenants, conditions and agreements
contained herein, and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the Parties hereby agree as follows:

ARTICLE 1

Construction

     Section 1.1 Definitions. Capitalized terms used, but not defined herein, shall have
the meanings given them in the Partnership Agreement. As used in this Agreement, the following
terms shall have the respective meanings set forth below:

     “Acadian Gas” has the meaning assigned to such term in the preamble to this Agreement

     “Acceptance Deadline” has the meaning assigned to such term in Section 4.2(b).

 

 

     “Agreement” means this Omnibus Agreement, as it may be amended, modified or
supplemented from time to time in accordance with the terms hereof.

     “Audit and Conflicts Committee” has the meaning given such term in the Partnership
Agreement.

     “Business Day” means any day that is not a Saturday, Sunday or other day on which
commercial banks in New York City are authorized or required by law to remain closed.

     “Capital Stock” has the meaning assigned to such term in Section 5.1(a).

     “Closing Date” means the date of the closing of the initial public offering of common
units representing limited partner interests in the Partnership.

     “Common Unit” has the meaning given such term in the Partnership Agreement.

     “Covered Environmental Losses” means all environmental losses, damages, liabilities,
claims, demands, causes of action, judgments, settlements, fines, penalties, costs and expenses
(including, without limitation, costs and expenses of any Environmental Activity, court costs and
reasonable attorney’s and experts’ fees) of any and every kind or character, known or unknown,
fixed or contingent, suffered or incurred by the Partnership Group by reason of or arising out of:

     (i) any violation or correction of violation, including without limitation performance of any
Environmental Activity, of Environmental Laws; or

     (ii) any event, omission or condition associated with ownership or operation of the
Partnership Assets (including, without limitation, the exposure to or presence of Hazardous
Substances on, under, about or migrating to or from the Partnership Assets or the exposure to or
Release of Hazardous Substances arising out of operation of the Partnership Assets at
non-Partnership Asset locations) including, without limitation, (A) the cost and expense of any
Environmental Activities, (B) the cost or expense of the preparation and implementation of any
closure, remedial or corrective action or other plans required or necessary under Environmental
Laws and (C) the cost and expense for any environmental or toxic tort pre-trial, trial or appellate
legal or litigation support work; provided, in the case of clauses (A) and (B), such cost and
expense shall not include the costs of and associated with project management and soil and ground
water monitoring;

     but only to the extent that such violation complained of under clause (i), or such events or
conditions included in clause (ii), occurred before the Closing Date.

     “Credit Facility” means the Revolving Credit Agreement, dated as of January 5, 2007,
by and among the Partnership, Wachovia Bank, National Association, as Administrative Agent, The
Bank of Nova Scotia and Citibank, N.A., as Co-Syndication Agents, JPMorgan Chase Bank, N.A. and
Mizuho Corporate Bank, Ltd., as Co-Documentation Agents, and the other arrangers and lenders named
therein, as the same may be amended, restated or modified from time to time.

     “Environmental Activities” shall mean any investigation, study, assessment,
evaluation, sampling, testing, monitoring, containment, removal, disposal, closure, corrective
action,

2

 

remediation (regardless of whether active or passive), natural attenuation, restoration,
bioremediation, response, repair, corrective measure, cleanup, or abatement that is required or
necessary under any applicable Environmental Law, including, but not limited to, institutional or
engineering controls or participation in a governmental voluntary cleanup program to conduct
voluntary investigatory and remedial actions for the clean-up, removal or remediation of Hazardous
Substances that exceed actionable levels established pursuant to Environmental Laws, or
participation in a supplemental environmental project in partial or whole mitigation of a fine or
penalty.

     “Environmental Laws” means all federal, state, and local laws, statutes, rules,
regulations, orders, judgments, ordinances, codes, injunctions, decrees, Environmental Permits and
other legally enforceable requirements and rules of common law relating to (a) pollution or
protection of the environment or natural resources including, without limitation, the federal
Comprehensive Environmental Response, Compensation and Liability Act, the Superfund Amendments and
Reauthorization Act, the Resource Conservation and Recovery Act, the Clean Air Act, the Clean Water
Act, the Safe Drinking Water Act, the Toxic Substances Control Act, the Oil Pollution Act of 1990,
the Hazardous Materials Transportation Act, the Marine Mammal Protection Act, the Endangered
Species Act, the National Environmental Policy Act, and other environmental conservation and
protection laws, each as amended through the Closing Date, (b) any Release or threatened Release
of, or any exposure of any Person or property to, any Hazardous Substances and (c) the generation,
manufacture, processing, distribution, use, treatment, storage, transport, or handling of any
Hazardous Substances.

     “Environmental Permit” means any permit, approval, identification number, license,
registration, consent, exemption, variance, or other authorization required under or issued
pursuant to any applicable Environmental Law.

     “EPD” means Enterprise Products Partners, L.P., a Delaware limited partnership, and
its successors.

     “EPD Entities” means EPD, EPD OLP, and any other Person controlled by EPD, other than
the Partnership Entities. For purposes of this definition, “control” means the possession,
direct or indirect, of the power to direct or cause the direction of the management and policies of
a Person, whether through ownership of Voting Securities, by contract or otherwise.

     “EPD OLP” has the meaning given such term in the preamble to this Agreement.

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

     “Expenditures” has the meaning given to such term in Section 3.1.

     “General Partner” has the meaning given such term in the preamble to this Agreement.

     “Hazardous Substance” means (a) any substance that is designated, defined or
classified as a hazardous waste, solid waste, hazardous material, pollutant, contaminant or toxic
or hazardous substance, or terms of similar meaning, or that is otherwise regulated under any
Environmental Law, including, without limitation, any hazardous substance as defined under the
Comprehensive Environmental Response, Compensation and Liability Act, as amended, (b) oil

3

 

as defined in the Oil Pollution Act of 1990, as amended, including oil, gasoline, natural gas,
fuel oil, motor oil, waste oil, diesel fuel, jet fuel and other refined petroleum hydrocarbons and
petroleum products and (c) radioactive materials, asbestos containing materials or polychlorinated
biphenyls.

     “Indemnified Party” means the Partnership Group or the EPD Entities, as the case may
be, in their capacity as the parties entitled to indemnification in accordance with Article 2.

     “Indemnifying Party” means either the Partnership Group or the EPD Entities, as the
case may be, in their capacity as the parties from whom indemnification may be required in
accordance with Article 2.

     “Initial Subsidiaries” has the meaning assigned to such term in the preamble to this
Agreement.

     “Losses” means any losses, damages, liabilities, claims, demands, causes of action,
judgments, settlements, fines, penalties, costs and expenses (including, without limitation, court
costs and reasonable attorney’s and experts’ fees) of any and every kind or character, known or
unknown, fixed or contingent.

     “Lou-Tex” has the meaning assigned to such term in the preamble to this Agreement

     “Mont Belvieu Caverns” has the meaning assigned to such term in the preamble to this
Agreement.

     “OLPGP” has the meaning given such term in the preamble to this Agreement.

     “Operating Partnership” has the meaning given such term in the preamble to this
Agreement.

     “Partnership” has the meaning given such term in the preamble to this Agreement.

     “Partnership Acquisition Proposal” has the meaning assigned to such term in
Section 4.2(a).

     “Partnership Agreement” means the Amended and Restated Agreement of Limited
Partnership of the Partnership, dated as of the Closing Date, as such agreement is in effect on the
Closing Date, to which reference is hereby made for all purposes of this Agreement. An amendment or
modification to the Partnership Agreement subsequent to the Closing Date shall be given effect for
the purposes of this Agreement only if it has received the approval that would be required pursuant
to Section 6.5 hereof if such amendment or modification were an amendment or modification
of this Agreement.

     “Partnership Assets” means the pipeline, natural gas liquids storage facilities or
related equipment or asset, or portion thereof, conveyed, contributed or otherwise transferred to
any member of the Partnership Group, or owned by or necessary for the operation of the business,
properties or assets of any member of the Partnership Group, prior to or as of the Closing Date.

4

 

     “Partnership Disposition Notice” has the meaning assigned to such term in Section
4.2(a).

     “Partnership Entities” means the General Partner and each member of the Partnership
Group.

     “Partnership Group” means the Partnership, OLPGP, the Operating Partnership and any
Subsidiary of the Operating Partnership.

     “Partnership Offer Price” has the meaning assigned to such term in Section
4.2(a).

     “Party” or “Parties” have the meaning assigned to such terms in the preamble.

     “Person” means a natural person, corporation, partnership, joint venture, trust,
limited liability company, unincorporated organization or any other entity.

     “Proposed Transferee” has the meaning assigned to such term in Section 4.1(a).

     “Release” means any depositing, spilling, leaking, pumping, pouring, placing,
emitting, discarding, abandoning, emptying, discharging, migrating, injecting, escaping, leaching,
dumping, or disposing into the environment.

     “ROFR Assets” has the meaning assigned to such term in Section 4.1(b).

     “Sabine” has the meaning assigned to such term in the preamble to this Agreement.

     “South Texas NGL” has the meaning assigned to such term in the preamble to this
Agreement.

     “South Texas NGL Pipeline” means the 290-mile natural gas liquids pipeline system
owned and operated by South Texas NGL.

     “Subsequent Notice” has the meaning assigned to such term in Section 5.1(b).

     “Subsidiary” has the meaning given such term in the Partnership Agreement.

     “Transfer” means any sale, assignment, transfer, pledge, hypothecation or other
disposition.

     “Voting Securities” means securities of any class of Person entitling the holders
thereof to vote in the election of members of the board of directors or other similar governing
body of the Person.

     Section 1.2 Construction. Unless the context requires otherwise: (a) any pronoun used
in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the
singular form of nouns, pronouns and verbs shall include the plural and vice versa; (b) references
to Articles and Sections refer to Articles and Sections of this Agreement; and (c) the term
“include” or “includes” means includes, without limitation, and “including” means including,
without limitation.

5

 

ARTICLE 2

Indemnification

     Section 2.1 Environmental Indemnification.

     (a) Subject to the provisions of Section 2.3 and Section 2.4, EPD OLP shall indemnify, defend
and hold harmless the Partnership Group from and against any Covered Environmental Losses suffered
or incurred by the Partnership Group and arising from or relating to the Partnership Assets for a
period of three (3) years from the Closing Date.

     (b) The Partnership Group shall indemnify, defend and hold harmless the EPD Entities from and
against any Covered Environmental Losses relating to the Partnership Assets, except to the extent
that the Partnership Group is indemnified with respect to any of such Covered Environmental Losses
under Section 2.1(a)

     Section 2.2 Additional Indemnification. Subject to the provisions of Section 2.3, the
EPD OLP shall indemnify, defend and hold harmless the Partnership Group from and against any Losses
suffered or incurred by the Partnership Group by reason of or arising out of:

     (a) The failure of the applicable member of the Partnership Group to be the owner of valid and
indefeasible easement rights, leasehold and/or fee ownership interests in and to the lands on which
are located any Partnership Assets, and such failure renders the Partnership Group liable or unable
to use or operate the Partnership Assets in substantially the same manner that the Partnership
Assets were used and operated by the EPD Entities immediately prior to the Closing Date;

     (b) (i) The failure of the applicable member of the Partnership Group to be the owner of such
valid and indefeasible easement rights or fee ownership interests in and to the lands on which any
of the Partnership Assets conveyed or contributed or otherwise transferred (including by way of a
transfer of the ownership interest of a Person or by operation of law) to the applicable member of
the Partnership Group on the Closing Date is located as of the Closing Date; (ii) the failure of
the applicable member of the Partnership Group to have the consents, licenses and permits necessary
to allow of the Partnership Assets to cross the roads, waterways railroads and other areas upon
which any of the Partnership Assets are located as of the Closing Date; and (iii) the cost of
curing any condition set forth in clause (i) or (ii) above that does not allow any of the
Partnership Assets to be operated in accordance with customary industry practice.

     (c) All federal, state and local income tax liabilities attributable to the ownership or
operation of the Partnership Assets prior to the Closing Date, including any such income tax
liabilities of the EPD Entities that may result from the consummation of the formation transactions
for the Partnership Group occurring on or prior to the Closing Date.

provided, however, that in the case of clauses (a) and (b) above, such indemnification obligations
shall survive for three (3) years from the Closing Date; that in the case of clause (c) above, such
indemnification obligations shall survive until sixty (60) days after the expiration of any
applicable statute of limitations.

6

 

     Section 2.3 Indemnification Procedures.

     (a) The Indemnified Party agrees that within a reasonable period of time after it becomes
aware of facts giving rise to a claim for indemnification pursuant to this Article 2, it will
provide notice thereof in writing to the Indemnifying Party specifying the nature of and specific
basis for such claim.

     (b) The Indemnifying Party shall have the right to control all aspects of the defense of (and
any counterclaims with respect to) any claims brought against the Indemnified Party that are
covered by the indemnification set forth in this Article 2, including, without limitation, the
selection of counsel, determination of whether to appeal any decision of any court and the settling
of any such matter or any issues relating thereto; provided, however, that no such settlement shall
be entered into without the consent (which consent shall not be unreasonably withheld, conditioned
or delayed) of the Indemnified Party unless it includes a full release of the Indemnified Party
from such matter or issues, as the case may be.

     (c) The Indemnified Party agrees to cooperate fully with the Indemnifying Party with respect
to all aspects of the defense of any claims covered by the indemnification set forth in Article 2,
including, without limitation, the prompt furnishing to the Indemnifying Party of any
correspondence or other notice relating thereto that the Indemnified Party may receive, permitting
the names of the Indemnified Party to be utilized in connection with such defense, the making
available to the Indemnifying Party of any files, records or other information of the Indemnified
Party that the Indemnifying Party considers relevant to such defense and the making available to
the Indemnifying Party of any employees of the Indemnified Party; provided, however, that in
connection therewith the Indemnifying Party agrees to use reasonable efforts to minimize the impact
thereof on the operations of the Indemnified Party and further agrees to maintain the
confidentiality of all files, records and other information furnished by the Indemnified Party
pursuant to this Section 2.3. In no event shall the obligation of the Indemnified Party to
cooperate with the Indemnifying Party as set forth in the immediately preceding sentence be
construed as imposing upon the Indemnified Party an obligation to hire and pay for counsel in
connection with the defense of any claims covered by the indemnification set forth in this Article
2; provided, however, that the Indemnified Party may, at its own option, cost and expense, hire and
pay for counsel in connection with any such defense. The Indemnifying Party agrees to keep any
such counsel hired by the Indemnified Party reasonably informed as to the status of any such
defense, but the Indemnifying Party shall have the right to retain sole control over such defense.

     (d) In determining the amount of any loss, cost, damage or expense for which the Indemnified
Party is entitled to indemnification under this Agreement, the gross amount of the indemnification
will be reduced by (i) any insurance proceeds realized by the Indemnified Party, and such
correlative insurance benefit shall be net of any incremental insurance premium that becomes due
and payable by the Indemnified Party as a result of such claim and (ii) all amounts recovered by
the Indemnified Party under contractual indemnities from third Persons. The Partnership hereby
agrees to use commercially reasonable efforts to realize any applicable insurance proceeds or
amounts recoverable under such contractual indemnities.

7

 

     Section 2.4 Limitations on Liability.

     (a) The aggregate liability of EPD OLP under Section 2.1(a) shall not exceed $15.0 million.

     (b) No claims may be made against EPD OLP for indemnification pursuant to Section 2.1(a)
unless the aggregate dollar amount of such claims for indemnification exceed $250,000, after such
time EPD OLP shall be liable for the full amount of such claims, subject to the limitation of
Section 2.4(a).

     (c) In no event shall EPD OLP have any indemnification obligations under this Agreement for
claims related to unknown Covered Environmental Losses made as a result of additions to or
modifications of Environmental Laws promulgated after the Closing Date.

ARTICLE 3

Reimbursement

     Section 3.1 General. EPD OLP hereby agrees to reimburse the Partnership Group for an
amount equal to sixty-six percent (66%) of any expenditures by the Partnership Group related to
construction costs, if any, in excess of (i) $28.6 million for the current planned expansion of the
South Texas NGL Pipeline and (ii) $14.1 million for the current additional planned brine production
capacity and above-ground storage reservoir projects owned by Mont Belvieu Caverns (such excess
expenditures, if any, made by the Partnership Group, the “Expenditures”.

     Section 3.2 Reimbursement Procedures. EPD OLP shall have no obligation to make any
reimbursement to the Partnership Group pursuant to Section 3.1 until the three (3) business days
following receipt by EPD OLP of written notice from the Partnership Group that the Partnership
Group has actually paid or incurred Expenditures related to construction costs for either (i) the
planned expansion of the South Texas NGL Pipeline or (ii) the planned brine production capacity and
above-ground storage reservoir projects owned by Mont Belvieu Caverns. Upon receipt of such
notice, EPD OLP shall promptly contribute to the Partnership Group funds in an amount equal to
sixty-six percent (66%) of the amount of Expenditures specified in such notice.

ARTICLE 4

Rights of First Refusal

     Section 4.1 Right of First Refusal.

     (a) Subject to Section 4.1(b), for so long as an EPD Entity controls EPD OLP, (i) the
Operating Partnership hereby grants to EPD OLP a right of first refusal on any proposed Transfer
(other than a grant of a security interest to a bona fide third-party lender or a Transfer to
another member of the Partnership Group) of any equity interest in the Subsidiaries held by the
Operating Partnership and (ii) the Operating Partnership and each of the Initial Subsidiaries
hereby grants to EPD OLP a right of first refusal on any proposed Transfer (other than a grant of a
security interest to a bona fide third-party lender or a Transfer to another member of the
Partnership Group) of any assets held by the Partnership Group; provided, the foregoing shall not
apply to Transfers of (i) any assets that are not material to the conduct of the business and
operations of the Operating Partnership or any of the Initial Subsidiaries and (ii) inventory or
other assets of the Partnership Group in the ordinary course of business; and provided, further,

8

 

that EPD OLP agrees to pay or to cause such other EPD Entity to pay no less than 100% of the
purchase price offered by a bona fide, third-party prospective acquiror (a “Proposed
Transferee”).

     (b) The Parties acknowledge that any potential Transfer of assets pursuant to this Article 4
(such assets, the “ROFR Assets”) shall be subject to, conditioned on and in compliance with
the terms and conditions in the Credit Facility and obtaining any and all necessary consents of
equityholders, noteholders or other securityholders, governmental authorities, lenders or other
third parties.

     (c) The Operating Partnership and each of the Initial Subsidiaries hereby agree that it will
not consent to, and direct any of their officers or directors not to consent to, the Transfer of
any assets by any members of the Partnership Group who are not Parties to this Agreement in
violation of this Article 4 and will use its best efforts to require any other members of the
Partnership Group to comply with this Article 4 as if they were Parties to this Agreement.

     Section 4.2 Procedures.

     (a) If a member of the Partnership Group proposes to Transfer any ROFR Assets to a Proposed
Transferee (a “Partnership Acquisition Proposal”), then OLPGP shall promptly give written
notice (a “Partnership Disposition Notice”) thereof to EPD OLP. The Partnership
Disposition Notice shall set forth the following information in respect of the proposed Transfer:

     (i) the name and address of the Proposed Transferee;

     (ii) the ROFR Asset(s) subject to the Partnership Acquisition Proposal;

     (iii) the purchase price offered by such Proposed Transferee (the
“Partnership Offer Price”);

     (iv) reasonable detail concerning any non-cash portion of the proposed
consideration, if any, to allow EPD OLP to reasonably determine the fair value of
such non-cash consideration;

     (v) OLPGP’s estimate of the fair value of any non-cash consideration; and

     (vi) all other material terms and conditions of the Partnership Acquisition
Proposal that are then known to OLPGP.

To the extent the Proposed Transferee’s offer consists of consideration other than cash (or in
addition to cash), the Partnership Offer Price shall be deemed equal to the amount of any such cash
plus the fair value of such non-cash consideration. If EPD OLP determines that it wishes to, or
wishes to cause another EPD Entity to, purchase the applicable ROFR Assets on the terms set forth
in the Partnership Disposition Notice (subject to the provisos set forth in Section 4.1(a),
including without limitation the requirement therein to pay 100% of the purchase price specified in
the Partnership Disposition Notice), it will deliver notice thereof to OLPGP within 45 days after
OLPGP’s delivery of the Partnership Disposition Notice (the “Acceptance Deadline”).

9

 

Failure to provide such notice within such 45-day period shall be deemed to constitute a decision
not to purchase the applicable ROFR Assets, and EPD OLP shall be deemed to have waived its rights
with respect to such proposed disposition of the applicable ROFR Assets, but not with respect to
any future offer of such ROFR Assets. If the Transfer by the member of the Partnership Group to the
Proposed Transferee is not consummated in accordance with the terms of the Partnership Acquisition
Proposal within the later of (A) 180 days after the Acceptance Deadline, and (B) 10 days after the
satisfaction of all consent, governmental approval or filing requirements, if any, the Partnership
Acquisition Proposal shall be deemed to lapse, and the member of the Partnership Group may not
Transfer any of the ROFR Assets described in the Partnership Disposition Notice without complying
again with the provisions of this Article 4 if and to the extent then applicable.

     (b) If requested by the transferee Party, the transferor Party shall use commercially
reasonable efforts to obtain financial statements with respect to any ROFR Assets Transferred
pursuant to this Article 4 as required under Regulation S-X promulgated by the Securities and
Exchange Commission or any successor statute. EPD OLP and the Partnership Group shall cooperate in
good faith in obtaining all necessary consents of equityholders, noteholders or other
securityholders, governmental authorities, lenders or other third parties.

ARTICLE 5

Preemptive Rights

     Section 5.1 Preemptive Rights in Initial Subsidiaries.

     (a) If any Initial Subsidiary proposes to sell any of its authorized limited liability company
interests, partnership interests, shares or other equity interests (“Capital Stock”) to any
Person in a transaction or transactions, as the case may be, other than (i) as consideration for
the acquisition of any other Person, assets or businesses, or (ii) any equity securities (including
convertible debt or warrants) issued in connection with a loan to or debt financing of the Initial
Subsidiary, each of the Operating Partnership and EPD OLP shall have the right to purchase, at the
same price per unit, percentage interest or share of such Capital Stock and upon substantially
similar terms and conditions, a pro rata number or percentage interest of such Capital Stock based
on the number or percentage interest of the Capital Stock as it owned immediately prior to such
issuance.

     (b) In the event of a proposed transaction or transactions, as the case may be, that would
give rise to preemptive rights of the Operating Partnership and EPD OLP under this Article 5, the
Operating Partnership shall provide notice to EPD OLP no later than thirty (30) days prior to the
expected consummation of such transaction or transactions. Each Party possessing preemptive rights
hereunder shall provide notice of its election to exercise such rights within ten (10) Business
Days after delivery of such notice from the Operating Partnership. If any Party having a right to
purchase Capital Stock under the preceding sentence shall elect not to exercise such right, then
the other Party that has elected to exercise their rights with respect hereto shall have the right
to purchase such additional Capital Stock from the Party upon which such right was not exercised;
provided, however, that if, in connection with any proposed transaction or transactions giving rise
to rights hereunder, any Capital Stock remains from those that were available to the Parties
pursuant to their rights hereunder, no Party shall have any

10

 

preemptive rights under this Article 5 and the proposed transaction or transactions shall be
consummated without any exercise of preemptive rights hereunder. In the event of a situation
described in the preceding sentence in which a Party elects not to exercise its preemptive rights
with respect to a proposed transaction or transactions, the Operating Partnership shall provide
notice (the “Subsequent Notice”) of such fact within five (5) Business Days following the
receipt of all of the notices concerning such elections from the Parties possessing such preemptive
rights. Each Party possessing the right to purchase the additional Capital Stock upon which the
preemptive rights were not exercised shall respond to this Subsequent Notice by sending a response
notice with respect thereto within five (5) Business Days after delivery of the Subsequent Notice.
Failure of any Party to respond to such Subsequent Notice with a notice stating the election of
such Party to purchase such additional Capital Stock shall be deemed to be an election not to
purchase such Capital Stock, and the proposed transaction or transactions shall be consummated
without any exercise of preemptive rights hereunder. Subsequent Notices shall also not be required
if EPD OLP has previously notified the Operating Partnership, and the Operating Partnership has
notified EPD OLP, of their respective desires not to purchase additional Capital Stock.

     (c) Each of the Operating Partnership and the Initial Subsidiary agrees that it shall not
authorize or permit any direct or indirect Subsidiaries of the Initial Subsidiaries to issue (by
initial issuance or by way of merger, consolidation or similar transaction) any of its Capital
Stock to any Person other than (i) to a direct or indirect wholly owned Subsidiary of such Initial
Subsidiary, (ii) pro rata based on the then-current percentage interests owned by such other
Persons in a transaction in which the Initial Subsidiary shall maintain its then-current percentage
interest, (iii) as consideration for the acquisition of any other Person, assets or businesses, or
(iv) any equity securities (including convertible debt or warrants) issued in connection with a
loan to or debt financing of the Initial Subsidiary. Each Initial Subsidiary agrees that it shall
not issue any of its Capital Stock, and shall not permit any of its Subsidiaries to issue any
Capital Stock, in violation of this Article 5.

ARTICLE 6

Miscellaneous

     Section 6.1 Choice of Law; Submission to Jurisdiction. This Agreement shall be
subject to and governed by the laws of the State of Texas, excluding any conflicts-of-law rule or
principle that might refer the construction or interpretation of this Agreement to the laws of
another state. Each Party hereby submits to the jurisdiction of the state and federal courts in
the State of Texas and to venue in Texas.

     Section 6.2 Notice. All notices or requests or consents provided for or permitted to
be given pursuant to this Agreement must be in writing and must be given by depositing same in the
United States mail, addressed to the Person to be notified, postpaid and registered or certified
with return receipt requested or by delivering such notice in person or by fax to such Party.
Notice given by personal delivery or mail shall be effective upon actual receipt. Notice given by
fax shall be effective upon actual receipt if received during the recipient’s normal business
hours, or at the beginning of the recipient’s next business day after receipt if not received
during the recipient’s normal business hours. All notices to be sent to a Party pursuant to this
Agreement

11

 

shall be sent to or made at the address set forth below or at such other address as such Party
may provide to the other Parties in the manner provided in this Section 6.2.

     For notices to EPD OLP or its Affiliates:

1100 Louisiana Street, 10th Floor

Houston, Texas 77002

Phone: (713) 381-6500

Fax: (713) 381-8200

Attn: Chief Legal Officer

     For notices to the Partnership Entities:

1100 Louisiana Street, 10th Floor

Houston, Texas 77002

Phone: (713) 381-6500

Fax: (713) 381-8200

Attn: Chief Executive Officer

     Section 6.3 Entire Agreement. This Agreement constitutes the entire agreement of the
Parties relating to the matters contained herein, superseding all prior contracts or agreements,
whether oral or written, relating to the matters contained herein.

     Section 6.4 Effect of Waiver or Consent. No waiver or consent, express or implied, by
any Party to or of any breach or default by any Person in the performance by such Person of its
obligations hereunder shall be deemed or construed to be a consent or waiver to or of any other
breach or default in the performance by such Person of the same or any other obligations of such
Person hereunder. Failure on the part of a Party to complain of any act of any Person or to
declare any Person in default, irrespective of how long such failure continues, shall not
constitute a waiver by such Party of its rights hereunder until the applicable statute of
limitations period has run.

     Section 6.5 Amendment or Modification. This Agreement may be amended, restated or
modified from time to time only by the written agreement of all the Parties; provided, however,
that no member of the Partnership Group may, without the prior approval of the Audit and Conflicts
Committee, agree to any amendment or modification of this Agreement that will adversely affect the
holders of Common Units. Each such instrument shall be reduced to writing and shall be designated
on its face an “Amendment,” “Addendum” or a “Restatement” to this Agreement.

     Section 6.6 Assignment; Third Party Beneficiaries. No Party shall have the right to
assign its rights or obligations under this Agreement without the prior written consent of all of
the other Parties. Each of the Parties hereto specifically intends that each entity comprising the
EPD Entities or the Partnership Entities, as applicable, whether or not a Party to this Agreement,
shall be entitled to assert rights and remedies hereunder as third-party beneficiaries hereto with
respect to those provisions of this Agreement affording a right, benefit or privilege to any such
entity.

12

 

     Section 6.7 Counterparts. This Agreement may be executed in any number of
counterparts with the same effect as if all signatory Parties had signed the same document. All
counterparts shall be construed together and shall constitute one and the same instrument.

     Section 6.8 Severability. If any provision of this Agreement or the application
thereof to any Person or circumstance shall be held invalid or unenforceable to any extent by a
court or regulatory body of competent jurisdiction, the remainder of this Agreement and the
application of such provision to other Persons or circumstances shall not be affected thereby and
shall be enforced to the greatest extent permitted by law.

     Section 6.9 Further Assurances. In connection with this Agreement and all
transactions contemplated by this Agreement, each Party agrees to execute and deliver such
additional documents and instruments and to perform such additional acts as may be necessary or
appropriate to effectuate, carry out and perform all of the terms, provisions and conditions of
this Agreement and all such transactions.

     Section 6.10 Withholding or Granting of Consent. Except as expressly provided to the
contrary in this Agreement, each Party may, with respect to any consent or approval that it is
entitled to grant pursuant to this Agreement, grant or withhold such consent or approval in its
sole and uncontrolled discretion, with or without cause, and subject to such conditions as it shall
deem appropriate.

     Section 6.11 Laws and Regulations. Notwithstanding any provision of this Agreement to
the contrary, no Party shall be required to take any act, or fail to take any act, under this
Agreement if the effect thereof would be to cause such Party to be in violation of any applicable
law, statute, rule or regulation.

     Section 6.12 Negation Rights of Limited Partners, Assignees and Third Parties. The
provisions of this Agreement are enforceable solely by the Parties, and no limited partner, member
or assignee of EPD OLP, the Partnership, the Operating Partnership or the Initial Subsidiaries or
other Person shall have the right, separate and apart from EPD OLP, the Partnership, the Operating
Partnership or the Initial Subsidiaries, to enforce any provision of this Agreement or to compel
any Party to comply with the terms of this Agreement.

     Section 6.13 No Recourse Against Officers or Directors. For the avoidance of doubt,
the provisions of this Agreement shall not give rise to any right of recourse against any officer
or director of any EPD Entity or any Partnership Entity.

[Signature page follows]

13

 

     IN WITNESS WHEREOF, the Parties have executed this Agreement on, and effective as of, the
Closing Date.

	 	 	 	 	 
	 	ENTERPRISE PRODUCTS OPERATING L.P.

 	 
	 	By:  	Enterprise Products OLPGP, Inc.,
 	 
	 	 	its General Partner 	 

	 	 	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 DEP HOLDINGS, LLC

	 	 	 	 	 
	 	By:  	
 	 
	 	 	Richard H. Bachmann 	 
	 	 	President and Chief Executive Officer 	 
	 

	 	 	 	 	 
	 	DUNCAN ENERGY PARTNERS L.P.

 	 
	 	By:  	DEP Holdings, LLC, its general partner
 	 

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Richard H. Bachmann 	 
	 	 	President and Chief Executive Officer 	 
	 

DEP OLPGP, LLC

	 	 	 	 	 
	 	By:  	
 	 
	 	 	Richard H. Bachmann 	 
	 	 	President and Chief Executive Officer 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	DEP OPERATING PARTNERSHIP, L.P.

 	 
	 	By:  	DEP OLPGP, LLC, its general partner
 	 

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Richard H. Bachmann 	 
	 	 	President and Chief Executive Officer 	 
	 

	 	 	 	 	 
	 	ENTERPRISE LOU-TEX PROPYLENE 

PIPELINE L.P.

 	 
	 	By:  	DEP Operating Partnership, L.P., its general partner
 	 

	 	 	 	 	 
	 	By:  	         DEP OLPGP, LLC, its general partner
 	 

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Richard H. Bachmann 	 
	 	 	President and Chief Executive 	 
	 

	 	 	 	 	 
	 	SABINE PROPYLENE PIPELINE L.P.

 	 
	 	By:  	DEP Operating Partnership, L.P., its general partner
 	 

	 	 	 	 	 
	 	By:  	         DEP OLPGP, LLC, its general partner
 	 

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Richard H. Bachmann 	 
	 	 	President and Chief Executive 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	ACADIAN GAS, LLC

 	 
	 	By:  	 	 
	 	 	Richard H. Bachmann 	 
	 	 	President and Chief Executive Officer 	 
	 

	 	 	 	 	 
	 	MONT BELVIEU CAVERNS, LLC

 	 
	 	By:  	 	 
	 	 	Richard H. Bachmann 	 
	 	 	President and Chief Executive Officer 	 
	 

	 	 	 	 	 
	 	SOUTH TEXAS NGL PIPELINES, LLC

 	 
	 	By:  	 	 
	 	 	Richard H. Bachmann 	 
	 	 	President and Chief Executive Officer

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