Document:

Form of deferred common unit grant agreement

 Exhibit 10.3 
 PVG GP, LLC 
 DEFERRED COMMON UNIT GRANT AGREEMENT 
 This DEFERRED COMMON UNIT GRANT AGREEMENT, dated as of «Date» (the “Date of Grant”), is delivered by PVG GP, LLC (the
“Company”) to «Name» (the “Grantee”). 
 RECITALS 
 The Company’s Long-Term Incentive Plan (the “Plan”) provides for the grant of Deferred Common Units (as defined in the Plan) in accordance
with the terms and conditions of the Plan. The Compensation and Benefits Committee of the Board of Directors of the Company (the “Committee”) has decided to grant Deferred Common Units to the Grantee as an inducement for the Grantee to
promote the best interests of the Partnership and its unitholders. All terms capitalized but not defined herein will have the meanings assigned to them in the Plan. A copy of the Plan is attached as Exhibit A hereto. 
 NOW, THEREFORE, the parties to this Agreement, intending to be legally bound hereby, agree as follows: 
 1. Grant of Deferred Common Units. Subject to the terms and conditions set forth in this Agreement and the Plan, the Company hereby grants
the Grantee «Units» Deferred Common Units. The Company will establish an Account in the Grantee’s name that will be credited with the number of Deferred Common Units granted hereunder or received pursuant to Section 2 hereof.

 2. Unit Distributions. On each date on which the Company makes a Distribution, the Grantee’s Account shall be credited
with that number of Deferred Common Units equal to (x) the product of (i) the amount of cash or the fair market value of other property paid in such Distribution multiplied by (ii) the number of Deferred Common Units in the
Grantee’s Account divided by (y) the Fair Market Value on the date of such Distribution. 
 3. Vesting and
Non-transferability. 
 (a) The Grantee shall be fully vested at all times in the Deferred Common Units granted hereunder and in the
Deferred Common Units received by the Grantee pursuant to Section 2 hereof. 
 (b) Deferred Common Units shall not be transferable
unless otherwise determined by the Board. 
 4. Distribution of Deferred Common Units. Deferred Common Units credited to the
Grantee’s Account will be distributed to the Grantee on the date on which the Grantee ceases for any reason to be a member of the Board; provided that, upon the death of the Grantee, distribution shall be made to the beneficiary designated by
such Grantee. If the Grantee fails to designate a beneficiary or the Grantee’s beneficiary predeceases the Grantee, distribution shall be made to the Grantee’s estate. Each Deferred Common Unit shall be payable in one Unit of the
Partnership. 

 5. Change in Control. The provisions of the Plan applicable to a Change in Control shall
apply to the Deferred Common Units, and upon the consummation of a Change in Control, the Units represented by Deferred Common Units credited to each Non-employee Director’s Account shall be distributed to the Grantee. 
 6. Grant Subject to Plan Provisions. This grant is made pursuant to the Plan, the terms of which are incorporated herein by reference, and
in all respects shall be interpreted in accordance with the Plan. The grant is subject to interpretations, regulations and determinations concerning the Plan established from time to time by the Board in accordance with the provisions of the Plan,
including, but not limited to, provisions pertaining to (a) rights and obligations with respect to withholding taxes, (b) the registration, qualification or listing of the Units, (c) changes in capitalization of the Partnership,
(d) compliance with section 409A of the Internal Revenue Code and the applicable regulations thereunder, and (e) other requirements of applicable law. The Committee shall have the authority to interpret and construe the grant pursuant to
the terms of the Plan, and its decisions shall be conclusive as to questions arising hereunder. 
 7. Withholding. The Grantee
shall be required to pay to the Company, or make other arrangements satisfactory to the Company to provide for the payment of, any federal, state, local or other taxes that the Company is required to withhold with respect to the grant of the
Deferred Common Units or the delivery of Units. 
 8. Requirements for Issuance or Transfer of Units. No Unit shall be issued,
transferred or delivered in connection with this Deferred Common Unit Grant unless and until all legal requirements applicable to the issuance of such Unit have been complied with to the satisfaction of the Board. The Board shall have the right to
condition this grant or delivery of such Unit on the Grantee’s undertaking in writing to comply with such restrictions on the Grantee’s subsequent disposition of such Unit as the Board shall deem necessary or advisable to comply with
applicable law, and the certificate representing such Unit may be legended to reflect any such restrictions. Certificates representing Units issued, transferred or delivered hereunder will be subject to such stop-transfer orders and other
restrictions as may be required by applicable laws, regulations and interpretations, including any requirement that a legend be placed thereon. 
 9. No Service or Other Rights. This grant shall not confer upon the Grantee any right to be retained as a director of the Company. 
 10. Assignment by Company. The rights and protections of the Company hereunder shall extend to any successors or assigns of the Company and to the Company’s parents, subsidiaries, and affiliates.
This Agreement may be assigned by the Company without the Grantee’s consent. 
 11. Applicable Law. The validity,
construction, interpretation and effect of this instrument shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to the conflicts of laws provisions thereof. 
  

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 12. Notice. Any notice to the Company provided for in this instrument shall be addressed to
the Company in care of Secretary at Three Radnor Corporate Center, Suite 300, Radnor, PA 19087 and any notice to the Grantee shall be addressed to such Grantee at the current address known by the Company, or to such other address as the Grantee may
designate to the Company in writing. Any notice shall be delivered by hand, sent by telecopy or enclosed in a properly sealed envelope addressed as stated above, registered and deposited, postage prepaid, in a post office regularly maintained by the
United States Postal Service. 
 IN WITNESS WHEREOF, the Company has caused its duly authorized officers to execute and attest this
instrument, and the Grantee has placed his or her signature hereon, effective as of the Date of Grant. 
  

			
	PVG GP, LLC
		
	By:	 	 /s/ Nancy M. Snyder

		 	Nancy M. Snyder
		 	Vice President and General Counsel

 I hereby accept the grant of Deferred Common Units described in this Agreement, and I agree to be bound by
the terms of the Plan and this Agreement. 
  

	
	  

	 «Name»

	
	  

	 Date

  

 3Form of restricted unit award agreement

 Exhibit 10.4 
 PVR GP, LLC 
 RESTRICTED UNIT AWARD AGREEMENT 
 THIS RESTRICTED UNIT AWARD AGREEMENT is made as of «Date» (the “Effective Date”) between PVG GP, LLC, a Delaware limited liability
company (the “Company”), and «Name» (“Employee”). 
 1. Award of Units. As of the Effective
Date, the Company hereby grants to Employee «Units» common units of Penn Virginia GP Holdings, L.P. (“Units”) pursuant to the PVG GP, LLC Long-Term Incentive Plan (the “Plan”). A copy of the Plan is attached hereto as
Exhibit A. Employee agrees that this award of Units shall be subject to all of the terms and conditions set forth herein and in the Plan, including any future amendments thereto, which Plan is incorporated herein by reference as a part of this
Agreement. In the event of any conflict between the terms of this Agreement and the Plan, the terms of the Plan shall govern. 
 2.
Forfeiture Restrictions. The Units granted to Employee pursuant to this Agreement may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of to the extent then subject to the
Forfeiture Restrictions (as hereinafter defined), and in the event of Employee’s termination from the Company for any reason (other than as described below), Employee shall automatically upon such termination, for no consideration, forfeit to
the Company all Units to the extent then subject to the Forfeiture Restrictions. The prohibition against transfer and the obligation to forfeit and surrender Units to the Company upon termination from the Company are herein referred to as
“Forfeiture Restrictions,” and the Units which are then subject to the Forfeiture Restrictions are herein sometimes referred to as “Restricted Units.” The Forfeiture Restrictions shall be binding upon and enforceable against any
transferee of the Units. The Forfeiture Restrictions shall lapse as to Restricted Units issued to Employee pursuant to this Agreement as follows: (a) as to one-third (1/3) of the Restricted Units granted to Employee hereunder, on the first
anniversary of the Effective Date; (b) as to an additional one-third (1/3) of the Restricted Units granted to Employee hereunder, on the second anniversary of the Effective Date; and (c) as to the remaining one-third (1/3) of the
Restricted Units granted to Employee hereunder, on the third anniversary of the Effective Date; and (ii) the Forfeiture Restrictions shall lapse as to all of the Restricted Units on the date a Change in Control (as defined in the Plan) occurs
or upon the death of Employee. 
 3. Certificates. A certificate evidencing the Restricted Units shall be issued in
Employee’s name, pursuant to which Employee shall have voting rights and shall be entitled to receive all distributions on such Units free and clear of any Forfeiture Restrictions. The certificate shall bear the following legend: 
 The Units evidenced by this certificate have been issued pursuant to an agreement made as of «Date», a copy of which is
attached hereto and incorporated herein, between the Company and the registered holder of the Units, and are subject to forfeiture to the Company under certain circumstances described in such agreement. The sale, assignment, pledge or other transfer
of the Units evidenced by this certificate is prohibited under the terms and conditions of such agreement, and such units may not be sold, assigned, pledged or otherwise transferred except as provided in such agreement. 

 The Company may cause the certificate to be delivered upon issuance to the Secretary of the Company as a
depository for safekeeping until the forfeiture occurs or the Forfeiture Restrictions lapse pursuant to the terms of this Agreement. Upon request of the Company, Employee shall deliver to the Company a unit power, endorsed in blank, relating to the
Restricted Units then subject to the Forfeiture Restrictions. Upon the lapse of the Forfeiture Restrictions without forfeiture, the Company shall cause a new certificate or certificates to be issued for the remaining Units without legend in the name
of Employee in exchange for the certificate evidencing the Restricted Units. 
 4. Consideration. It is understood that the
consideration for the issuance of Restricted Units shall be Employee’s agreement to render future services as Employee of the Company. 
 5. Status of Units. Employee agrees that the Restricted Units will not be sold or otherwise disposed of in any manner that would constitute a violation of any applicable federal or state securities laws. Employee also agrees
(i) that the certificates representing the Restricted Units may bear such legend or legends as the Committee deems appropriate in order to ensure compliance with applicable securities laws, (ii) that Penn Virginia GP Holdings, L.P. may
refuse to register the transfer of the Restricted Units on the unit transfer records of Penn Virginia GP Holdings, L.P. if such proposed transfer would in the opinion of counsel satisfactory to Penn Virginia GP Holdings, L.P. constitute a violation
of any applicable securities law, and (iii) that Penn Virginia GP Holdings L.P. may give related instructions to its transfer agent, if any, to stop registration of the transfer of the Restricted Units. 
 6. Committee’s Powers. No provision contained in this Agreement shall in any way terminate, modify or alter, or be construed or
interpreted as terminating, modifying or altering any of the powers, rights or authority vested in the Committee pursuant to the terms of the Plan, including, without limitation, the Committee’s rights to make certain determinations and
elections with respect to the Restricted Units. 
 7. Binding Effect. This Agreement shall be binding upon and inure to the
benefit of any successors to the Company and all persons lawfully claiming under Employee. 
 8. Non-Alienation. To the extent
subject to the Forfeiture Restrictions, Employee shall not have any right to pledge, hypothecate, anticipate or assign this Agreement or the rights with respect to Units granted hereunder, except by will or the laws of descent and distribution.

 9. No Membership Rights Conferred. This Agreement shall not be deemed to (i) confer upon Employee any right with
respect to continuation of employment or (ii) affect the terms and conditions of any other agreement between the Company and Employee except as expressly provided herein. 
 10. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of
which together will constitute one and the same Agreement. 
  

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 11. Governing Law. This Agreement shall be governed by, and construed in accordance with,
the laws of the State of Delaware. 
 IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by an officer thereunto
duly authorized, and Employee has executed this Agreement, all effective as of the Effective Date. 
  

			
	PVG GP, LLC
		
	By:	 	 /s/ Nancy M. Snyder

	Name:	 	Nancy M. Snyder
	Title:	 	Vice President
		 	
	  

	«Name»

  

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