Document:

Form of Contribution Agreement

 Exhibit 10.1 

 
  

 
 CONTRIBUTION AGREEMENT

 by and among 
 SUNCOKE ENERGY PARTNERS, L.P., 
 SUNCOKE ENERGY PARTNERS GP LLC

 and 
 SUN COAL & COKE LLC 
 Dated as of
            , 20         
  

 
  

 TABLE OF CONTENTS 

 

							
	 ARTICLE I
	  			
		
	 DEFINITIONS
	  			
			
	 Section 1.1
	 	Definitions	  	 	3	  
		
	 ARTICLE II
	  			
		
	 TRANSACTIONS PRECEDING AND IMMEDIATELY FOLLOWING THE OFFERING
	  			
			
	 Section 2.1
	 	Transactions Preceding the Offering	  	 	6	  
	 Section 2.2
	 	Structural Contributions and Assumptions of Liabilities	  	 	6	  
	 Section 2.3
	 	Transactions Immediately Following the Offering	  	 	7	  
		
	 ARTICLE III
	  			
		
	 EXERCISE OF UNDERWRITERS’ OPTION
	  			
		
	 ARTICLE IV
	  			
		
	 MISCELLANEOUS PROVISIONS
	  			
			
	 Section 4.1
	 	Effective Time	  	 	8	  
	 Section 4.2
	 	Further Assurances	  	 	8	  
	 Section 4.3
	 	Headings; References, Interpretation	  	 	8	  
	 Section 4.4
	 	Successors and Assigns	  	 	9	  
	 Section 4.5
	 	No Third Party Rights	  	 	9	  
	 Section 4.6
	 	Counterparts	  	 	9	  
	 Section 4.7
	 	Choice of Law; Submission to Jurisdiction	  	 	9	  
	 Section 4.8
	 	Severability	  	 	9	  
	 Section 4.9
	 	Amendment or Modification	  	 	9	  
	 Section 4.10
	 	Integration	  	 	10	  
	 Section 4.12
	 	Deed; Bill of Sale; Assignment	  	 	10	  

 CONTRIBUTION AGREEMENT 

This CONTRIBUTION AGREEMENT (this “Agreement”), dated as
of                , 20         is made by and among Sun Coal & Coke LLC, a Delaware limited liability company
(“SC&C”), SunCoke Energy Partners, L.P., a Delaware limited partnership (the “Partnership”), and SunCoke Energy Partners GP LLC, a Delaware limited liability company and the general partner of the Partnership
(the “General Partner”). The above-named entities are sometimes referred to in this Agreement each as a “Party” and collectively as the “Parties.” Capitalized terms used herein shall have the
meanings assigned to such terms in Article I. 
 RECITALS 

WHEREAS, SC&C, a wholly-owned subsidiary of SunCoke Energy, Inc., a Delaware corporation (“SunCoke”), has
formed the General Partner under the Delaware Limited Liability Company Act (the “Delaware LLC Act”), to which it contributed $1,000.00 in exchange for a 100% membership interest in the General Partner; 

WHEREAS, the General Partner and SC&C have formed the Partnership pursuant to the Delaware Revised Uniform Limited Partnership
Act (the “Delaware LP Act”) for the purposes set forth in the Agreement of Limited Partnership of the Partnership dated July 30, 2012 (the “Initial Partnership Agreement”); 

WHEREAS, in connection with the Partnership’s formation, the General Partner contributed $20.00 and SC&C contributed
$980.00 to the Partnership in exchange for a 2.0% general partner interest (the “GP Interest”) and a 98.0% limited partner interest (the “Initial LP Interest”), respectively; 

WHEREAS, Haverhill Coke Company LLC, a Delaware limited liability company (“Haverhill”), has formed Haverhill
Cogeneration Company LLC, a Delaware limited liability company (“Haverhill Cogeneration”), pursuant to the Delaware LLC Act, to which it contributed $1,000.00 in exchange for a 100% membership interest in Haverhill Cogeneration;

 WHEREAS, Middletown Coke Company, LLC, a Delaware limited liability company (“Middletown”), has
formed Middletown Cogeneration Company LLC, a Delaware limited liability company (“Middletown Cogeneration”), pursuant to the Delaware LLC Act, to which it contributed $1,000.00 in exchange for a 100% membership interest in
Middletown Cogeneration; 
 WHEREAS, pursuant hereto (or, with respect to clause 1., the Assumption Agreement, with
respect to clause 2., the Haverhill Collections Agreement, with respect to clause 3., the Middletown Collections Agreement , with respect to clause 5., the Partnership Agreement, with respect to clause 6., the Senior Notes Indenture, with respect to
clause 8., the Underwriting Agreement), with respect to clause 10., the Assumption Agreement, and with respect to clause 11., the Assumption Agreement, each of the following will occur at the times specified hereinafter: 

 

	 	1.	Haverhill will assume primary repayment responsibility for repayment of $[        ] million of SunCoke’s outstanding
indebtedness under the SunCoke Credit Agreement (the “Haverhill Assumed Debt”), and Middletown will assume primary responsibility for repayment of $[        ] million of SunCoke’s
outstanding indebtedness under the SunCoke Credit Agreement (the “Middletown Assumed Debt); 

	 	2.	Haverhill Cogeneration will contribute to Haverhill its existing accounts receivable, whether or not invoiced, (the “Haverhill Cogeneration
Receivables”) and Haverhill will contribute to SC&C (a) all amounts received from Haverhill Cogeneration as Haverhill Cogeneration Receivables and (b) Haverhill’s existing accounts receivable, whether or not invoiced,
(the “Haverhill Receivables,” and together with the Haverhill Cogeneration Receivables, the “Haverhill Group Receivables”); 

 

	 	3.	Middletown Cogeneration will contribute to Middletown its existing accounts receivable, whether or not invoiced, (the “Middletown Cogeneration
Receivables”) and Middletown will contribute to SC&C (a) all amounts received from Middletown Cogeneration as Middletown Cogeneration Receivables and (b) Middletown’s existing accounts receivable, whether or not invoiced,
(the “Middletown Receivables,” and together with the Middletown Cogeneration Receivables, the “Middletown Group Receivables”); 

 

	 	4.	SC&C will contribute a [        ]% limited liability company interest in Haverhill and a
[        ]% limited liability company interest in Middletown to the Partnership; 

  

	 	5.	SC&C’s limited partner interest in the Partnership will be restated as [        ] Common Units and
[        ] Subordinated Units and the General Partner’s interest in the Partnership will be restated as a 2.0% general partner interest and Incentive Distribution Rights; 

 

	 	6.	The Partnership will borrow $[150.0 million] (the “MLP Debt Proceeds”) from third party creditors in connection with an offering of senior notes (the
“MLP Debt”); 

  

	 	7.	The Partnership will enter into the MLP Credit Agreement; 

  

	 	8.	The Partnership will issue [        ] Common Units to public investors, through the Underwriters, in exchange for cash in the
amount of $[            ] (the “IPO Proceeds”) and will grant the Underwriters the Underwriters’ Option; 

 

	 	9.	The Partnership will contribute $[        ] to Haverhill and $[        ] to Middletown
to, among other things, permit Haverhill to repay the Haverhill Assumed Debt and permit Middletown to repay the Middletown Assumed Debt; 

  

	 	10.	Haverhill will pay off the Haverhill Assumed Debt and waive any right to repayment in connection therewith; 

  
 2 

	 	11.	Middletown will pay off the Middletown Assumed Debt and waive any right to repayment in connection therewith; 

 

	 	12.	The Partnership will make a cash distribution of $[        ] to SC&C, to be funded in a manner traceable to the MLP Debt
Proceeds, and in part as a reimbursement of $[        ] of pre-formation capital expenditures incurred with respect to the assets of Haverhill and Haverhill Cogeneration (the “Haverhill Pre-Formation
Capex”) and $[        ] of pre-formation capital expenditures incurred with respect to the assets of Middletown and Middletown Cogeneration (the “Middletown Pre-Formation Capex”); and

  

	 	13.	The Partnership will pay all transaction expenses associated with the MLP Credit Agreement; 

WHEREAS, if the Underwriters’ Option is exercised, each of the matters provided in Article III will occur as set forth
therein; and 
 WHEREAS, members or partners of the Parties have taken all partnership and limited liability
company action, as the case may be, required to be taken to approve the transactions contemplated by this Agreement. 

NOW THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, and intending to be legally bound hereby, the parties hereto hereby agree as follows: 
 ARTICLE I

 DEFINITIONS 
 Section 1.1 Definitions 
 The following defined terms will have the meanings
given below: 
 “Agreement” has the meaning set forth in the opening paragraph of this Agreement. 

“Assumption Agreement” means the Assumption Agreement effective as of the Closing Date, by and among Haverhill,
Middletown and SunCoke. 
 “Assumption Parties” has the meaning set forth in the Recitals of this Agreement.

 “Closing Date” has the meaning assigned to such term in the Partnership Agreement. 

“Commission” means the U.S. Securities and Exchange Commission. 

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

“Delaware LLC Act” has the meaning set forth in the Recitals of this Agreement. 

  
 3 

 “Delaware LP Act” has the meaning set forth in the Recitals of this
Agreement. 
 “General Partner” has the meaning set forth in the opening paragraph of this Agreement. 

“GP Interest” has the meaning set forth in the Recitals of this Agreement. 

“Haverhill” has the meaning set forth in the Recitals of this Agreement. 

“Haverhill Assumed Debt” has the meaning set forth in the Recitals of this Agreement. 

“Haverhill Cogeneration” has the meaning set forth in the Recitals of this Agreement. 

“Haverhill Cogeneration Receivables” has the meaning set forth in the Recitals of this Agreement. 

“Haverhill Collections Agreement” means the Collections Agreement executed as
of                , 2012, by and among SC&C, Haverhill and Haverhill Cogeneration. 
 “Haverhill Group Receivables” has the meaning set forth in the Recitals of this Agreement. 
 “Haverhill Pre-Formation Capex” has the meaning set forth in the Recitals of this Agreement. 
 “Haverhill Receivables” has the meaning set forth in the Recitals of this Agreement. 
 “Incentive Distribution Rights” has the meaning assigned to such term in the Partnership Agreement. 
 “Initial LP Interest” has the meaning set forth in the Recitals of this Agreement. 
 “Initial Partnership Agreement” has the meaning set forth in the Recitals of this Agreement. 
 “IPO Proceeds” has the meaning set forth in the Recitals to this Agreement. 
 “Middletown” has the meaning set forth in the Recitals of this Agreement. 
 “Middletown Assumed Debt” has the meaning set forth in the Recitals of this Agreement. 
 “Middletown Cogeneration” has the meaning set forth in the Recitals of this Agreement. 
 “Middletown Cogeneration Receivables” has the meaning set forth in the Recitals of this Agreement. 
 “Middletown Collections Agreement” means the Collections Agreement executed as of                 , 2012,
by and among SC&C, Middletown and Middletown Cogeneration. 

  
 4 

 “Middletown Group Receivables” has the meaning set forth in the Recitals
of this Agreement. 
 “Middletown Pre-Formation Capex” has the meaning set forth in the Recitals of this
Agreement. 
 “Middletown Receivables” has the meaning set forth in the Recitals of this Agreement. 

“MLP Credit Agreement” means the credit agreement to be entered into between the Partnership and
[            ], in substantially the form attached as Exhibit 10.5 to the Registration Statement. 
 “MLP Debt” has the meaning set forth in the Recitals to this Agreement. 
 “Offering” means the initial public offering of the Partnership’s Common Units. 
 “Omnibus Agreement” means the omnibus agreement to be entered into between SunCoke, the Partnership and the General Partner, substantially in the form attached as Exhibit 10.2 to the
Registration Statement. 
 “Option Units” has the meaning set forth in the Underwriting Agreement. 

“Party” or “Parties” has the meaning set forth in the opening paragraph of this Agreement. 

“Partnership” has the meaning set forth in the opening paragraph of this Agreement. 

“Partnership Agreement” means the First Amended and Restated Agreement of Limited Partnership of the Partnership,
substantially in the form attached as Appendix C to the Registration Statement. 
 “Registration Statement”
means the Registration Statement on Form S-1 filed with the Commission (Registration No. 333-183162), as amended. 

“SC&C” has the meaning set forth in the opening paragraph of this Agreement. 

“Senior Notes Indenture” means the indenture to be entered into between the Partnership and
[            ], in substantially the form attached as Exhibit 4.1 to the Registration Statement. 
 “Subordinated Unit” has the meaning assigned to such term in the Partnership Agreement. 
 “SunCoke” has the meaning set forth in the Recitals of this Agreement. 
 “SunCoke Credit Agreement” means the Credit Agreement by and among SunCoke, as borrower, the lenders party thereto from time to time, The Royal Bank of Scotland PLC and Keybank National
Association, as revolving facility co-documentation agents, Bank of America, N.A., as revolving facility syndication agent and term loan facility documentation agent, Credit 

  
 5 

 
Suisse Securities (USA) LLC, as term loan syndication agent, J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as
joint lead arrangers and joint bookrunners for the term loan facility, J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as joint lead arrangers and joint bookrunners for the revolving facility, and J.P.
Morgan Chase Bank, N.A., as administrative agent, dated as of July 26, 2011, as may be amended, supplemented or restated from time to time. 
 “Underwriters” means the underwriting syndicate listed in the Underwriting Agreement. 
 “Underwriting Agreement” means the underwriting agreement to be entered into by and among the Partnership, the General Partner, SC&C, SunCoke and the underwriting syndicate listed
therein, in substantially the form attached as Exhibit 1.1 to the Registration Statement. 
 “Underwriters’
Option” means the over-allotment option granted to the Underwriters by the Partnership pursuant to the Underwriting Agreement. 
 ARTICLE II 
 TRANSACTIONS PRECEDING AND IMMEDIATELY FOLLOWING THE
OFFERING 
 Section 2.1 Transactions Preceding the Offering. 

The parties acknowledge and agree that the following actions have occurred or will have occurred prior to the Closing Date: 

(a) Haverhill has assumed primary responsibility for repayment of the Haverhill Assumed Debt, and Middletown has assumed primary
responsibility for repayment of the Middletown Assumed Debt. 
 (b) Haverhill Cogeneration has transferred, conveyed and assigned
to Haverhill the Haverhill Cogeneration Receivables, Haverhill has transferred, conveyed and assigned to SC&C the Haverhill Group Receivables, Middletown Cogeneration has transferred, conveyed and assigned to Middletown the Middletown
Cogeneration Receivables and Middletown has transferred, conveyed and assigned to SC&C the Middletown Group Receivables, in each case as a distribution with respect to the beneficial interest SC&C owns (directly or indirectly) in the
outstanding membership interests in each of Haverhill Cogeneration, Haverhill, Middletown Cogeneration and Middletown. 

Section 2.2 Structural Contributions and Assumptions of Liabilities. 

The parties acknowledge and agree that the following actions will hereby occur effective immediately prior to the closing of the
Offering: 
 (a) SC&C hereby grants, contributes, bargains, transfers, conveys, sets over, delivers and assigns to the
Partnership, and the Partnership hereby accepts such transfer, conveyance and assignment, of a [        ]% limited liability company interest in Haverhill and a
[        ]% limited liability company interest in Middletown, as a contribution with respect to the 

  
 6 

 
beneficial interest SC&C (directly and indirectly) owns in the outstanding partner interests in the Partnership, and in exchange for such transfer, conveyance and assignment, SC&C’s
limited partner interest in the Partnership is restated as [        ] Common Units and [        ] Subordinated Units and the General Partner’s interest in the
Partnership is restated as a 2.0% general partner interest and Incentive Distribution Rights; 
 (b) The Parties acknowledge
that, in connection with the Offering, the public, through the Underwriters, has made a capital contribution to the Partnership of $[         ] in cash in exchange for [ ] Common Units representing a [
        ]% limited partner interest in the Partnership. 
 (c) The Parties acknowledge
(i) the payment by the Partnership, in connection with the Closing, of transaction expenses in the amount of approximately $[         ] million (excluding underwriting discounts of
$[         ] in the aggregate but including a structuring fee of [ ]$ of the gross proceeds of the Offering payable to one of the Underwriters and an advisory fee of $[
        ] payable to other third party advisors) and (ii) the distribution by the Partnership of approximately $[         ] million to SC&C, in part as a
reimbursement of qualified capital expenditures. 
 (d) The Partnership hereby distributes $20.00 to the General Partner and
$980.00 to SC&C, as a refund of the initial capital contributions by each such party to the Partnership, along with 2.0% and 98.0%, respectively, of any interest or other profit that resulted from the investment or other use of the initial
capital contributions. 
 Section 2.3 Transactions Immediately Following the Offering. 

The parties acknowledge and agree that the following actions will hereby occur in the following order effective immediately following the
closing of the Offering: 
 (a) The Partnership contributes $[        ] of the IPO
Proceeds to Haverhill and $[        ] of the IPO Proceeds to Middletown to be used for environmental remediation costs, to pay sales discounts related to certain tax credits, and for working capital purposes,
in exchange the Partnership’s interest in each of Haverhill and Middletown is restated as a 65% membership interest. 
 (b)
Haverhill pays off the Haverhill Assumed Debt and waives any right to repayment in connection therewith. 
 (c) Middletown pays
off the Middletown Assumed Debt and waives any right to repayment in connection therewith. 
 (d) The Partnership makes a cash
distribution of $[        ] to SC&C, in a manner traceable to the MLP Debt, and in part as a reimbursement of $[        ] of the Haverhill Pre-Formation Capex and
$[        ] of the Middletown Pre-Formation Capex. 
 (e) SC&C and the General
Partner shall amend and restate the Initial Partnership Agreement by executing the Partnership Agreement in substantially the form included as Appendix C to the Registration Statement, with such changes as the General Partner and SC&C may agree.

  
 7 

 (f) SunCoke, the Partnership and the General Partner shall execute the Omnibus Agreement, in
substantially the form attached as Exhibit 10.2 to the Registration Statement, with such changes as such parties may agree, pursuant to which such parties shall agree to certain matters with respect to, among other things, intellectual property,
indemnification, customer contracts, business opportunities, rights of first offer, reimbursement for certain fees related to the MLP Credit Agreement, and allocation of certain expenses, as provided therein. 

ARTICLE III 
 EXERCISE OF UNDERWRITERS’ OPTION 
 Section 3.1. If the
Underwriters’ Option is exercised in part or in full, the Underwriters will contribute additional cash to the Partnership in exchange for the Option Units on the basis of the price per Common Unit set forth in the Underwriting Agreement, and
any such proceeds will be paid by the Partnership to SC&C as a special distribution. To the extent that the Underwriters’ Option is not exercised, then upon the expiration of the Underwriters’ Option, the Partnership will issue to
SC&C a number of Common Units equal to the unexercised portion of the Underwriters’ Option. 
 ARTICLE IV

 MISCELLANEOUS PROVISIONS 
 Section 4.1 Effective Time. Notwithstanding anything contained in this Agreement to the contrary, the provisions of Article II and Section 4.2 shall not be binding or have
any effect until each of the Partnership and SC&C executes the Underwriting Agreement, at which time all such provisions shall be effective and operative without further action by any Party. 

Section 4.2 Further Assurances. From time to time, and without any further consideration, the Parties agree to execute,
acknowledge and deliver all such additional deeds, assignments, bills of sale, conveyances, instruments, notices, releases, acquittances and other documents, and to do all such other acts and things, all in accordance with applicable law, as may be
necessary or appropriate (a) more fully to assure that the applicable Parties own all of the properties, rights, titles, interests, estates, remedies, powers and privileges granted by this Agreement or which are intended to be so granted,
(b) more fully and effectively to vest in the applicable Parties and their respective successors and assigns beneficial and record title to the interests contributed and assigned by this Agreement or intended to be so contributed and assigned
and (c) more fully and effectively to carry out the purposes and intent of this Agreement. 
 Section 4.3 Headings;
References, Interpretation. All Article and Section headings in this Agreement are for convenience only and shall not be deemed to control or affect the meaning or construction of any of the provisions hereof. The words “hereof,”
“herein” and “hereunder” and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole. All references herein to Articles and Sections shall, unless the context requires a different
construction, be deemed to be references to the Articles and Sections of this 

  
 8 

 
Agreement. All personal pronouns used in this Agreement, whether used in the masculine, feminine or neuter 
 gender, shall include all other genders, and the singular shall include the plural and vice versa. The use herein of the word “including” following any general statement, term or matter shall
not be construed to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to similar items or matters, whether or not non-limiting language (such as “without limitation,”
“but not limited to” or words of similar import) is used with reference thereto, but rather shall be deemed to refer to all other items or matters that could reasonably fall within the broadest possible scope of such general statement,
term or matter. 
 Section 4.4 Successors and Assigns. This Agreement shall be binding upon and inure to the benefit
of the Parties and their respective successors and assigns. 
 Section 4.5 No Third Party Rights. The provisions of
this Agreement are intended to bind the Parties as to each other and are not intended to and do not create rights in any other person or confer upon any other person any benefits, rights or remedies, and no person is or is intended to be a third
party beneficiary of any of the provisions of this Agreement. 
 Section 4.6 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. The delivery of an executed
counterpart copy of this Agreement by facsimile or electronic transmission in PDF format shall be deemed to be the equivalent of delivery of the originally executed copy thereof. 

Section 4.7 Choice of Law; Submission to Jurisdiction. This Agreement shall be subject to and governed by the laws of the
State of New York, 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 New York and to venue in New York, New York. 
 Section 4.8 Severability. If any of the provisions of
this Agreement are held by any court of competent jurisdiction to contravene, or to be invalid under, the laws of any political body having jurisdiction over the subject matter hereof, such contravention or invalidity shall not invalidate the entire
Agreement. Instead, this Agreement shall be construed as if it did not contain the particular provisions or provisions held to be invalid and an equitable adjustment shall be made and necessary provision added so as to give effect to the intention
of the Parties as expressed in this Agreement at the time of execution of this Agreement. 
 Section 4.9 Amendment or
Modification. This Agreement may be amended or modified from time to time only by the written agreement of all the Parties. Each such instrument shall be reduced to writing and shall be designated on its face as an amendment to this Agreement.

  
 9 

 Section 4.10 Integration. This Agreement and the instruments referenced herein
supersede all previous understandings or agreements among the Parties, whether oral or written, with respect to the subject matter of this Agreement and such instruments. This Agreement and such instruments contain the entire understanding of the
Parties with respect to the subject matter hereof and thereof. No understanding, representation, promise or agreement, whether oral or written, is intended to be or shall be included in or form part of this Agreement unless it is contained in a
written amendment hereto executed by the Parties after the date of this Agreement. 
 Section 4.11 Notices 

All notices and other communications required or permitted hereunder shall be in writing and shall be deemed effectively given
(a) upon personal delivery, (b) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient; if not, then on the next business day, (c) five days after having been sent by registered or
certified mail, return receipt requested, postage prepaid or (d) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All notices and other
communications shall be addressed to the Parties at their respective addresses set forth in, or determined in accordance with the applicable provision of, the Partnership Agreement. 

Section 4.12 Deed; Bill of Sale; Assignment. To the extent required and permitted by applicable law, this Agreement shall
also constitute a “deed,” “bill of sale” or “assignment” of the assets and interests referenced herein. 
 [THE REMAINDER OF THIS PAGE IS LEFT INTENTIONALLY BLANK] 

  
 10 

 IN WITNESS WHEREOF, the parties to this Agreement have caused it to be duly executed
as of the date first above written. 
  

							
		 	SUNCOKE ENERGY PARTNERS, L.P.
			
		 	By:	  	 SunCoke Energy Partners GP LLC,
 its general partner

				
		 		  	By:	  	 
		 		  		  	Name:
		 		  		  	Title:
		
		 	SUNCOKE ENERGY PARTNERS GP LLC
			
		 	By:	  	 
		 		  	Name:	  	
		 		  	Title:	  	
		
		 	SUN COAL & COKE LLC
			
		 	By:	  	 
		 		  	Name:	  	
		 		  	Title:	  	

 SIGNATURE PAGE 

CONTRIBUTION AGREEMENTSunCoke Energy Partners, L.P. Long-Term Incentive Plan

 Exhibit 10.4 
 SUNCOKE ENERGY PARTNERS, L.P. 
 LONG TERM INCENTIVE PLAN 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	Section 1.	 	 Purpose of the Plan
	  	 	1	  
			
	Section 2.	 	 Definitions
	  	 	1	  
			
	Section 3.	 	 Administration
	  	 	4	  
			
	(a)	 	 Authority of the Committee
	  	 	4	  
	(b)	 	 Manner and Exercise of Committee Authority
	  	 	4	  
	(c)	 	 Limitation of Liability
	  	 	5	  
	(d)	 	 Exemptions from Section 16(b) Liability
	  	 	5	  
			
	Section 4.	 	 Units
	  	 	5	  
			
	(a)	 	 Limits on Units Deliverable
	  	 	5	  
	(b)	 	 Sources of Units Deliverable Under Awards
	  	 	6	  
	(c)	 	 Anti-Dilution Adjustments
	  	 	6	  
	(d)	 	 Additional Issuances
	  	 	6	  
			
	Section 5.	 	 Eligibility
	  	 	6	  
			
	Section 6.	 	 Awards
	  	 	6	  
			
	(a)	 	 General
	  	 	6	  
	(b)	 	 Options
	  	 	7	  
	(c)	 	 Unit Appreciation Rights
	  	 	8	  
	(d)	 	 Restricted Units and Phantom Units
	  	 	8	  
	(e)	 	 Unit Awards
	  	 	9	  
	(f)	 	 Other Unit Based Awards
	  	 	9	  
	(g)	 	 DERs
	  	 	10	  
	(h)	 	 Substitute Awards
	  	 	10	  
	(i)	 	 Performance Awards
	  	 	10	  
	(j)	 	 Certain Provisions Applicable to Awards
	  	 	11	  
			
	Section 7.	 	 Amendment and Termination
	  	 	13	  
			
	(a)	 	 Amendments to the Plan and Awards
	  	 	13	  
	(b)	 	 Subdivision or Consolidation of Units
	  	 	13	  
	(c)	 	 Recapitalizations
	  	 	14	  
	(d)	 	 Additional Issuances
	  	 	14	  
	(e)	 	 Change of Control
	  	 	15	  
	(f)	 	 Change of Control Price
	  	 	15	  
	(g)	 	 Impact of Corporate Events on Awards Generally
	  	 	15	  
			
	Section 8.	 	 General Provisions
	  	 	16	  
			
	(a)	 	 No Rights to Award
	  	 	16	  
	(b)	 	 Tax Withholding
	  	 	16	  
	(c)	 	 No Right to Employment or Services
	  	 	16	  
	(d)	 	 Governing Law
	  	 	16	  
	(e)	 	 Severability
	  	 	16	  
	(f)	 	 Other Laws
	  	 	16	  
	(g)	 	 No Trust or Fund Created
	  	 	17	  

  
 i 

							
	(h)	 	 No Fractional Units
	  	 	17	  
	(i)	 	 Headings
	  	 	17	  
	(j)	 	 Facility of Payment
	  	 	17	  
	(k)	 	 Allocation of Costs
	  	 	17	  
	(l)	 	 Gender and Number
	  	 	17	  
	(m)	 	 Compliance with Section 409A
	  	 	17	  
	(n)	 	 Specified Employee under Section 409A of the Code
	  	 	17	  
	(o)	 	 No Guarantee of Tax Consequences
	  	 	17	  
			
	Section 9.	 	 Term of the Plan
	  	 	17	  

  
 ii 

 SUNCOKE ENERGY PARTNERS, L.P. 

LONG TERM INCENTIVE PLAN 
 Section 1. Purpose of the Plan. The SunCoke Energy Partners, L.P. Long-Term Incentive Plan (the “Plan”) has been adopted by SunCoke Energy Partners GP
LLC, a Delaware limited liability company, the general partner (the “General Partner”) of SunCoke Energy Partners, L.P., a Delaware limited partnership (the “Partnership”). The Plan is
intended to promote the interests of the General Partner, the Partnership and their Affiliates by providing to Employees, Consultants, and Directors incentive compensation awards to encourage superior performance. The Plan is also contemplated to
enhance the ability of the General Partner, the Partnership and their Affiliates to attract and retain the services of individuals who are essential for the growth and profitability of the Partnership and to encourage them to devote their best
efforts to advancing the business of the Partnership. 
 Section 2. Definitions. As used in the Plan, the
following terms shall have the meanings set forth below: 
 (a) “409A Award” means an Award that
constitutes a “deferral of compensation” within the meaning of the 409A Regulations, whether by design, due to a subsequent modification in the terms and conditions of such Award, or as a result of a change in applicable law following the
date of grant of such Award, and that is not exempt from section 409A of the Code pursuant to an applicable exemption. 
 (b)
“409A Regulations” means the applicable Treasury regulations and other interpretive guidance promulgated pursuant to section 409A of the Code. 
 (c) “Affiliate” means, 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. 
 (d) “Award” means an Option, Unit Appreciation Right,
Restricted Unit, Phantom Unit, Unit Award, Performance Award, Substitute Award, Other Unit Based Award, or Cash Award granted under the Plan and includes, as appropriate, any tandem DERs granted with respect to an Award (other than a Restricted Unit
or Unit Award). 
 (e) “Award Agreement” means the written or electronic agreement by which an Award
shall be evidenced. 
 (f) “Board” means the Board of Directors of the General Partner. 

(g) “Cash Award” means an award denominated in cash. 

(h) “Change of Control” means, and shall be deemed to have occurred upon, one or more of the following events:

 (i) any “person” or “group” within the meaning of those terms as used in sections 13(d)
and 14(d)(2) of the Exchange Act, other than members of the General Partner, 

  
 1 

 
the Partnership, or an Affiliate of either the General Partner or the Partnership, shall become the beneficial owner, by way of merger, consolidation, recapitalization, reorganization, or
otherwise, of 50% or more of the voting power of the voting securities of the General Partner or the Partnership; 
 (ii) the limited partners of the General Partner or the Partnership approve, in one transaction or a series of transactions, a plan of complete liquidation of the General Partner or the Partnership;

 (iii) the sale or other disposition by either the General Partner or the Partnership of all or substantially
all of its assets in one or more transactions to any Person other than an Affiliate; 
 (iv) the General Partner
or an Affiliate of the General Partner or the Partnership ceases to be the general partner of the Partnership; or 
 (v) any other event specified as a “Change of Control” in an applicable Award Agreement. 
 Notwithstanding the above, with respect to a 409A Award, a “Change of Control” shall not occur unless that Change of Control also constitutes a “change in the ownership of a
corporation,” a “change in the effective control of a corporation,” or a “change in the ownership of a substantial portion of a corporation’s assets,” in each case, within the meaning of section 1.409A-3(i)(5) of the
409A Regulations, as applied to non-corporate entities. 
 (i) “Code” means the Internal Revenue Code of
1986, as amended from time to time. 
 (j) “Committee” means the Board or such committee as may be
appointed by the Board to administer the Plan, which alternative committee may be the board of directors or managers of any Affiliate or a committee thereof. 
 (k) “Consultant” means an individual who renders consulting or advisory services to the General Partner, the Partnership, or an Affiliate of either. 

(l) “Director” means a member of the Board or the board of directors of an Affiliate of the General Partner who
is not an Employee or a Consultant (other than in that individual’s capacity as a Director). 
 (m)
“Distribution Equivalent Right” or “DER” means a contingent right, granted alone or in tandem with a specific Award (other than a Restricted Unit or Unit Award), to receive with respect to each Unit
subject to the Award an amount in cash, Units and/or Phantom Units, as determined by the Committee in its sole discretion, equal in value to the distributions made by the Partnership with respect to a Unit during the period such Award is
outstanding. 
 (n) “Effective Date” has the meaning set forth in Section 9. 

(o) “Employee” means an employee of the General Partner or of an Affiliate of the General Partner. 

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

  
 2 

 (q) “Fair Market Value” means, on any relevant date, the closing
sales price of a Unit on the principal national securities exchange or other market in which trading in Units occurs, on the last market trading day prior to the applicable day (or, if there is no trading in the Units on such date, on the next
preceding day on which there was trading) as reported in The Wall Street Journal (or other reporting service approved by the Committee). If Units are not traded on a national securities exchange or other market at the time a determination of Fair
Market Value is required to be made hereunder, the determination of Fair Market Value shall be made by the Committee in good faith using a “reasonable application of a reasonable valuation method” within the meaning of the 409A Regulations
(specifically, section 1.409A-l(b)(5)(iv)(B) of the 409A Regulations). 
 (r) “General Partner” has the
meaning set forth in Section 1. 
 (s) “Option” means an option to purchase Units granted under the
Plan. 
 (t) “Other Unit Based Award” means an Award granted to an Employee, Director, or Consultant
pursuant to Section 6(f). 
 (u) “Participant” means an Employee, Consultant, or Director granted
an Award under the Plan. 
 (v) “Partnership” has the meaning set forth in Section 1. 

(w) “Performance Award” means a right granted to an Employee, Director, or Consultant pursuant to
Section 6(i), to receive an Award based upon performance criteria specified by the Committee. 
 (x)
“Person” means an individual or a corporation, limited liability company, partnership, joint venture, trust, unincorporated organization, association, governmental agency or political subdivision thereof, or other entity.

 (y) “Phantom Unit” means a notional Unit granted under the Plan which upon vesting entitles the
Participant to receive, at the time of settlement, a Unit or an amount of cash equal to the Fair Market Value of a Unit, as determined by the Committee in its sole discretion. 
 (z) “Plan” has the meaning set forth in Section 1. 

(aa) “Qualified Member” means a member of the Committee who is a “nonemployee director” within the
meaning of paragraph (b)(3) of Rule 16b-3. 
 (bb) “Restricted Period” means the period established by
the Committee with respect to an Award during which the Award remains subject to forfeiture and is either not exercisable by or payable to the Participant, as the case may be. 
 (cc) “Restricted Unit” means a Unit granted under the Plan that is subject to a Restricted Period. 
 (dd) “Rule 16b-3” means Rule 16b-3 promulgated by the SEC under the Exchange Act or any successor rule or regulation thereto as in effect from time to time. 

(ee) “SEC” means the Securities and Exchange Commission, or any successor thereto. 

  
 3 

 (ff) “Substitute Award” means an award granted pursuant to
Section 6(h) of the Plan. 
 (gg) “Unit Distribution Right” or “UDR” means
a distribution made by the Partnership with respect to a Restricted Unit. 
 (hh) “Unit” means a common
unit of the Partnership. 
 (ii) “Unit Appreciation Right” means a contingent right granted under the
Plan that entitles the holder to receive, in cash or Units, as determined by the Committee in its sole discretion, an amount equal to the excess of the Fair Market Value of a Unit on the exercise date of the Unit Appreciation Right (or another
specified date) over the exercise price of the Unit Appreciation Right. 
 (jj) “Unit Award” means a
grant of a Unit that is not subject to a Restricted Period. 
 Section 3. Administration. 

(a) Authority of the Committee. The Plan shall be administered by the Committee. A majority of the Committee shall constitute a
quorum, and the acts of the members of the Committee who are present at any meeting thereof at which a quorum is present, or acts unanimously approved by the members of the Committee in writing, shall be the acts of the Committee. Subject to the
terms of the Plan and applicable law, and in addition to other express powers and authorizations conferred on the Committee by the Plan, the Committee shall have full power and authority to: (i) designate Participants; (ii) determine the
type or types of Awards to be granted to a Participant; (iii) determine the number of Units to be covered by Awards; (iv) determine the terms and conditions of any Award, consistent with the terms of the Plan, which terms may include any
provision regarding the acceleration of vesting or waiver of forfeiture restrictions or any other condition or limitation regarding an Award, based on such factors as the Committee shall determine, in its sole discretion; (v) determine whether,
to what extent, and under what circumstances Awards may be vested, settled, exercised, canceled, or forfeited; (vi) interpret and administer the Plan and any instrument or agreement relating to an Award made under the Plan;
(vii) establish, amend, suspend, or waive such rules and regulations and appoint such agents as it shall deem appropriate for the proper administration of the Plan; and (viii) make any other determination and take any other action that the
Committee deems necessary or desirable for the administration of the Plan. The Committee may correct any defect or supply any omission or reconcile any inconsistency in the Plan or an Award Agreement in such manner and to such extent as the
Committee deems necessary or appropriate. The determinations of the Committee on the matters referred to in this Section 3(a) shall be final and conclusive. 
 (b) Manner and Exercise of Committee Authority. At any time that a member of the Committee is not a Qualified Member, any action of the Committee relating to an Award granted or to be granted to a
Participant who is then subject to section 16 of the Exchange Act in respect of the Partnership may be taken either (i) by a subcommittee, designated by the Committee, composed solely of two or more Qualified Members, (ii) by the Committee
but with each such member who is not a Qualified Member abstaining or recusing himself or herself from such action; provided, however, that upon such abstention or recusal the Committee remains composed solely of two or more Qualified
Members, or (iii) if the Committee is the Board, by the full Board. Such action, authorized by such a subcommittee, by the Committee upon the abstention or recusal of such non-Qualified Member(s), or by the full Board, as applicable, shall be
the action of the Committee for all purposes of the Plan. Unless otherwise expressly provided in the Plan, all designations, determinations, interpretations, and other decisions under (or with respect to) the Plan or any Award shall be within the
sole discretion of the Committee, may be made at any time, and shall be final, conclusive, and binding upon all Persons, including, without limitation, the General Partner, the Partnership, any Affiliate, any Participant, and any beneficiary of a
Participant. The 

  
 4 

 
express grant of any specific power to the Committee, and the taking of any action by the Committee, shall not be construed as limiting the power or authority of the Committee. Subject to the
Plan and any applicable law, the Committee, in its sole discretion, may delegate any or all of its powers and duties under the Plan, including the power to grant Awards under the Plan, to the Chief Executive Officer of the General Partner, subject
to such limitations on such delegated powers and duties as the Committee may impose, if any, and provided that the Committee may not delegate its duties where such delegation would violate state corporate law, or with respect to making Awards to, or
otherwise with respect to Awards granted to, Participants who are subject to section 16(b) of the Exchange Act. Upon any such delegation, all references in the Plan to the “Committee,” other than in Section 7, shall be deemed to
include the Chief Executive Officer. Any such delegation shall not limit the Chief Executive Officer’s right to receive Awards under the Plan; provided, however, the Chief Executive Officer may not grant Awards to himself, a
Director, or any executive officer of the General Partner or an Affiliate, or take any action with respect to any Award previously granted to himself, an individual who is an executive officer, or a Director. Under no circumstances shall any such
delegation result in the loss of an exemption under paragraph (d)(1) of Rule 16b-3 for Awards granted to Participants subject to section 16 of the Exchange Act in respect of the Partnership. 

(c) Limitation of Liability. The Committee and each member thereof shall be entitled to, in good faith, rely or act upon any
report or other information furnished to him or her by any officer or employee of the General Partner, the Partnership, any Affiliates of either the General Partner or the Partnership, or the General Partner’s or the Partnership’s legal
counsel, independent auditors, consultants, or any other agents assisting in the administration of the Plan. Members of the Committee and any officer or employee of the General Partner, the Partnership, or any of their Affiliates acting at the
direction or on behalf of the Committee shall not be personally liable for any action or determination taken or made in good faith with respect to this Plan and shall, to the fullest extent permitted by law, be indemnified and held harmless by the
General Partner with respect to any such action or determination. 
 (d) Exemptions from Section 16(b) Liability. It
is the intent of the General Partner that the grant of any Awards to, or other transaction by, a Participant who is subject to section 16 of the Exchange Act shall be exempt from section 16(b) of the Exchange Act pursuant to Rule 16b-3 or another
applicable exemption (except for transactions acknowledged by the Participant in writing to be non-exempt). Accordingly, if any provision of the Plan or any Award Agreement does not comply with the requirements of Rule 16b-3 or such other exemption
as then applicable to any such transaction, such provision shall be construed or deemed amended to the extent necessary to conform to the applicable requirements of Rule 16b-3 so that such Participant shall avoid liability under section 16(b) of the
Exchange Act. 
 Section 4. Units. 
 (a) Limits on Units Deliverable. Subject to adjustment as provided in Section 4(c) and Section 7, the number of Units that may be delivered with respect to Awards under the Plan is
1,600,000. Units withheld from an Award or surrendered by a Participant to satisfy the Partnership’s or an Affiliate’s tax withholding obligations (including the withholding of Units with respect to Restricted Units) or to satisfy the
payment of any exercise price with respect to the Award shall not be considered to be Units delivered under the Plan for this purpose. If any Award is forfeited, cancelled, exercised, settled in cash, or otherwise terminates or expires without the
actual delivery of Units pursuant to such Award (the grant of Restricted Units is not a delivery of Units for this purpose), the Units subject to such Award shall again be available for Awards under the Plan (including Units not delivered in
connection with the exercise of an Option or Unit Appreciation Right). There shall not be any limitation on the number of Awards that may be granted and paid in cash. 

  
 5 

 (b) Sources of Units Deliverable Under Awards. Any Units delivered pursuant to an
Award shall consist, in whole or in part, of Units acquired in the open market, from any Affiliate, the Partnership, or any other Person, or any combination of the foregoing, as determined by the Committee in its discretion. 

(c) Anti-Dilution Adjustments. Notwithstanding anything contained in Section 7, with respect to any “equity
restructuring” event that could result in an additional compensation expense to the General Partner or the Partnership pursuant to the provisions of FASB Accounting Standards Codification, Topic 718 if adjustments to Awards with respect to such
event were discretionary, the Committee shall equitably adjust the number and type of Units covered by each outstanding Award and the terms and conditions, including the exercise price and performance criteria (if any), of such Award to equitably
reflect such restructuring event and shall adjust the number and type of Units (or other securities or property) with respect to which Awards may be granted after such event. With respect to any other similar event that would not result in an
accounting charge under FASB Accounting Standards Codification, Topic 718 if the adjustment to Awards with respect to such event were subject to discretionary action, the Committee shall have complete discretion to adjust Awards in such manner as it
deems appropriate with respect to such other event. In the event the Committee makes any adjustment pursuant to the foregoing provisions of this Section 4(c), the Committee shall make a corresponding and proportionate adjustment with respect to
the maximum number of Units that may be delivered with respect to Awards under the Plan as provided in Section 4(a) and the kind of Units or other securities available for grant under the Plan. 

(d) Additional Issuances. Except as hereinbefore expressly provided, the issuance by the General Partner or the Partnership of
Units for cash, property, labor or services, upon direct sale, or upon the conversion of Units or obligations of the General Partner or the Partnership convertible into such Units, and in any case whether or not for fair value, shall not affect, and
no adjustment by reason thereof shall be made with respect to, the number of Units subject to Awards theretofore granted pursuant to the Plan. 
 Section 5. Eligibility. Any Employee, Consultant, or Director shall be eligible to be designated a Participant and receive an Award under the Plan. If the Units issuable pursuant to an
Award are intended to be registered with the SEC on Form S-8, then only Employees, Consultants, and Directors of the Partnership or a parent or subsidiary of the Partnership (within the meaning of General Instruction A.1(a) to Form S-8) will be
eligible to receive such an Award. 
 Section 6. Awards. 

(a) General. Awards may be granted on the terms and conditions set forth in this Section 6. In addition, the Committee may
impose on any Award or the exercise thereof, at the date of grant or thereafter (subject to Section 7(a)), such additional terms and conditions, not inconsistent with the provisions of the Plan, as the Committee shall determine, including terms
requiring forfeiture of Awards in the event of termination of employment by the Participant, or termination of the Participant’s service relationship with the General Partner, the Partnership, or their Affiliates, and terms permitting a
Participant to make elections relating to his or her Award. The Committee shall retain full power and discretion to accelerate, waive or modify, at any time, any term or condition of an Award that is not mandatory under the Plan; provided,
however, that the Committee shall not have any discretion to accelerate the terms of payment of any Award that provides for a deferral of compensation under section 409A the Code and the 409A Regulations if such acceleration would
subject a Participant to additional taxes under section 409A the Code and the 409A Regulations. 

  
 6 

 (b) Options. The Committee may grant Options that are intended to comply with
section 1.409A-1(b)(5)(i)(A) of the 409A Regulations only to Employees, Consultants, or Directors performing services on the date of grant for the Partnership or a corporation or other type of entity in a chain of corporations or other entities in
which each corporation or other entity has a “controlling interest” in another corporation or entity in the chain, starting with the Partnership and ending with the corporation or other entity for which the Employee, Consultant, or
Director performs services. For purposes of this Section 6(b), “controlling interest” means (i) in the case of a corporation, ownership of stock possessing at least 50% of total combined voting power of all classes of stock of
such corporation entitled to vote or at least 50% of the total value of shares of all classes of stock of such corporation; (ii) in the case of a partnership, ownership of at least 50% of the profits interest or capital interest of such
partnership; (iii) in the case of a sole proprietorship, ownership of the sole proprietorship; or (iv) in the case of a trust or estate, ownership of an actuarial interest (as defined in section 1.414(c)-2(b)(2)(ii) of the treasury
regulations) of at least 50% of such trust or estate. The Committee may grant Options that are otherwise exempt from or compliant with section 409A of the Code to any eligible Employee, Consultant, or Director. The Committee shall have the authority
to determine the number of Units to be covered by each Option, the purchase price therefor, and the conditions and limitations applicable to the exercise of the Option, including the following terms and conditions and such additional terms and
conditions, as the Committee shall determine, that are not inconsistent with the provisions of the Plan. 
 (i)
Exercise Price. The exercise price per Unit purchasable under an Option that does not provide for the deferral of compensation under the 409A Regulations shall be determined by the Committee at the time the Option is granted but, except with
respect to Substitute Awards and Options described in the last sentence of this Section 6(b)(i), may not be less than the Fair Market Value of a Unit as of the date of grant of the Option. For purposes of this Section 6(b)(i), the Fair
Market Value of a Unit shall be determined as of the date of grant. The exercise price per Unit purchasable under an Option that does not provide for the deferral of compensation by reason of satisfying the short-term deferral rule set forth in the
409A Regulations or that is compliant with section 409A of the Code shall be determined by the Committee at the time the Option is granted. 
 (ii) Time and Method of Exercise. The Committee shall determine the exercise terms and any Restricted Period with respect to an Option grant, which may include, without limitation, a provision for
accelerated vesting upon the achievement of specified performance goals or other events, and the method or methods by which payment of the exercise price with respect thereto may be made or deemed to have been made, which may include, without
limitation, cash, check acceptable to the General Partner, withholding Units from an Award, a “cashless-broker” exercise through procedures approved by the General Partner, or any combination of the above methods, having a Fair Market
Value on the exercise date equal to the relevant exercise price. 
 (iii) Forfeitures. Except as otherwise
provided in the terms of the Award Agreement, upon termination of a Participant’s employment or service to the General Partner and its Affiliates or membership on the Board or the board of directors of an Affiliate, whichever is applicable, for
any reason during any applicable Restricted Period, all unvested Options shall be forfeited by the Participant. The Committee may, in its discretion, waive in whole or in part such forfeiture with respect to a Participant’s Options;
provided that the waiver contemplated under this Section 6(b)(iii) shall be effective only to the extent that such waiver will not cause the Participant’s Options that are designed to satisfy section 409A of the Code to fail to
satisfy such Code section. 

  
 7 

 (c) Unit Appreciation Rights. The Committee may grant Unit Appreciation Rights that
are intended to comply with section 1.409A-l(b)(5)(i)(B) of the 409A Regulations only to Employees, Consultants, or Directors performing services on the date of grant for the Partnership or a corporation or other type of entity in a chain of
corporations or other entities in which each corporation or other entity has a “controlling interest” in another corporation or entity in the chain, starting with the Partnership and ending with the corporation or other entity for which
the Employee, Consultant, or Director performs services. For purposes of this Section 6(c), “controlling interest” means (i) in the case of a corporation, ownership of stock possessing at least 50% of total combined voting power
of all classes of stock of such corporation entitled to vote or at least 50% of the total value of shares of all classes of stock of such corporation; (ii) in the case of a partnership, ownership of at least 50% of the profits interest or
capital interest of such partnership; (iii) in the case of a sole proprietorship, ownership of the sole proprietorship; or (iv) in the case of a trust or estate, ownership of an actuarial interest (as defined in section
1.414(c)-2(b)(2)(ii) of the treasury regulations) of at least 50% of such trust or estate. The Committee may grant Unit Appreciation Rights that are otherwise exempt from or compliant with section 409A of the Code to any eligible Employee,
Consultant, or Director. The Committee shall have the authority to determine the Employees, Consultants, and Directors to whom Unit Appreciation Rights shall be granted, the number of Units to be covered by each grant, whether Units or cash shall be
delivered upon exercise, the exercise price therefor, and the conditions and limitations applicable to the exercise of the Unit Appreciation Rights, including the following terms and conditions and such additional terms and conditions, as the
Committee shall determine, that are not inconsistent with the provisions of the Plan. 
 (i) Exercise
Price. The exercise price per Unit Appreciation Right that does not provide for the deferral of compensation under the 409A Regulations shall be determined by the Committee at the time the Unit Appreciation Right is granted but, except with
respect to Substitute Awards and Unit Appreciation Rights described in the last sentence of this Section 6(c)(i), may not be less than the Fair Market Value of a Unit as of the date of grant of the Unit Appreciation Right. For purposes of this
Section 6(c)(i), the Fair Market Value of a Unit shall be determined as of the date of grant. The exercise price per Unit Appreciation Right that does not provide for the deferral of compensation by reason of satisfying the short-term deferral
rule set forth in the 409A Regulations or that is compliant with section 409A of the Code shall be determined by the Committee at the time the Unit Appreciation Right is granted. 

(ii) Time of Exercise. The Committee shall determine any Restricted Period and the time or times at which a Unit
Appreciation Right may be exercised in whole or in part, which may include, without limitation, accelerated vesting upon the achievement of specified performance goals or other events. 

(iii) Forfeitures. Except as otherwise provided in the terms of the Award Agreement, upon termination of a
Participant’s employment with or service to the General Partner, the Partnership, and their Affiliates or membership on the Board or the board of directors of an Affiliate, whichever is applicable, for any reason during any applicable
Restricted Period, all outstanding Unit Appreciation Rights awarded to the Participant shall be automatically forfeited on such termination. The Committee may, in its discretion, waive in whole or in part such forfeiture with respect to a
Participant’s Unit Appreciation Rights. 
 (d) Restricted Units and Phantom Units. The Committee shall have the
authority to determine the Employees, Consultants, and Directors to whom Restricted Units or Phantom Units shall be granted, the number of Restricted Units or Phantom Units to be granted to each such Participant, the Restricted Period, the
conditions under which the Restricted Units or Phantom Units may become vested or forfeited, and such other terms and conditions as the Committee may establish with respect to such Awards. 

  
 8 

 (i) UDRs. To the extent provided by the Committee, in its discretion,
a grant of Restricted Units may provide that the distributions made by the Partnership with respect to the Restricted Units shall be subject to the same forfeiture and other restrictions as the Restricted Unit and, if restricted, such distributions
shall be held, without interest, until the Restricted Unit vests or is forfeited with the UDR being paid or forfeited at the same time, as the case may be. In addition, the Committee may provide that such distributions be used to acquire additional
Restricted Units for the Participant. Such additional Restricted Units may be subject to such vesting and other terms as the Committee may prescribe. Absent such a restriction on the UDRs in the Award Agreement, UDRs shall be paid to the holder of
the Restricted Unit without restriction at the same time as cash distributions are paid by the Partnership to its unitholders. Notwithstanding the foregoing, UDRs shall only be paid in a manner that is either exempt from or in compliance with
section 409A of the Code. 
 (ii) Forfeitures. Except as otherwise provided in the terms of the applicable
Award Agreement, upon termination of a Participant’s employment with or services to the General Partner and its Affiliates or membership on the Board or the board of directors of an Affiliate, whichever is applicable, for any reason during the
applicable Restricted Period, all outstanding, unvested Restricted Units and Phantom Units awarded to the Participant shall be automatically forfeited on such termination. The Committee may, in its discretion, waive in whole or in part such
forfeiture with respect to a Participant’s Restricted Units and/or Phantom Units; provided that the waiver contemplated under this Section 6(d)(ii) shall be effective only to the extent that such waiver will not cause the
Participant’s Restricted Units and/or Phantom Units that are designed to satisfy section 409A of the Code to fail to satisfy such Code section. 
 (iii) Lapse of Restrictions. 
 (A)
Phantom Units. No later than the 15th calendar day
following the vesting of each Phantom Unit, subject to the provisions of Section 8(b), the Participant shall be entitled to settlement of such Phantom Unit and shall receive one Unit or an amount in cash equal to the Fair Market Value of a Unit
(for purposes of this Section 6(f)(iii), as calculated on the last day of the Restricted Period), as determined by the Committee in its discretion. 
 (B) Restricted Units. Upon the vesting of each Restricted Unit, subject to satisfying the tax withholding obligations of Section 8(b), the Participant shall be entitled to have the
restrictions removed from his or her Award so that the Participant then holds an unrestricted Unit. 
 (e) Unit Awards.
The Committee shall have the authority to grant a Unit Award under the Plan to any Employee, Consultant, or Director in a number determined by the Committee in its discretion, as a bonus or additional compensation or in lieu of cash compensation the
individual is otherwise entitled to receive, in such amounts as the Committee determines to be appropriate. 
 (f) Other Unit
Based Awards. The Committee is authorized, subject to limitations under applicable law, to grant to Participants such other Awards that may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on or
related to Units, as deemed by the Committee to be consistent with the purposes of this Plan, including, without limitation, convertible or exchangeable debt securities, other rights convertible or exchangeable into Units, purchase rights for Units,
Awards with value and payment contingent upon performance of the Partnership or any other factors designated by the Committee, and Awards valued by reference to the book value of Units or the value of securities of or the performance of specified
Affiliates of the General Partner or the Partnership. The Committee shall determine the terms and conditions of such Awards. Units delivered pursuant to an 

  
 9 

 
Award in the nature of a purchase right granted under this Section 6(f) shall be purchased for such consideration, paid for at such times, by such methods, and in such forms, including,
without limitation, cash, Units, other Awards, or other property, as the Committee shall determine. Cash awards, as an element of or supplement to, or independent of any other Award under this Plan, may also be granted pursuant to this
Section 6(f). 
 (g) DERs. To the extent provided by the Committee, in its discretion, an Award (other than a
Restricted Unit or Unit Award) may include a tandem DER grant, which may provide that such DERs shall be paid directly to the Participant, be reinvested into additional Awards, be credited to a bookkeeping account (with or without interest in the
discretion of the Committee) subject to the same vesting restrictions as the tandem Award, or be subject to such other provisions or restrictions as determined by the Committee in its discretion. Absent a contrary provision in the Award Agreement,
DERs shall be paid to the Participant without restriction at the same time as ordinary cash distributions are paid by the Partnership to its unitholders. Notwithstanding the foregoing, DERs shall only be paid in a manner that is either exempt from
or in compliance with section 409A of the Code. 
 (h) Substitute Awards. Awards may be granted under the Plan in
substitution for similar awards held by individuals who become Employees, Consultants, or Directors as a result of a merger, consolidation, or acquisition by the Partnership or an Affiliate of another entity or the assets of another entity. Such
Substitute Awards that are Options or Unit Appreciation Rights may have exercise prices less than the Fair Market Value of a Unit on the date of the substitution if such substitution complies with section 409A of the Code and the 409A Regulations
and other applicable laws and exchange rules. 
 (i) Performance Awards. The right of a Participant to receive a grant,
and the right of a Participant to exercise or receive a grant or settlement of any Award, and the timing thereof, may be subject to such performance conditions as may be specified by the Committee. The Committee may use such business criteria and
other measures of performance as it may deem appropriate in establishing any performance conditions and may exercise its discretion to reduce or increase the amounts payable under any Award subject to performance conditions. 

(i) Performance Goals Generally. The performance goals for such Performance Awards shall consist of one or more
business criteria or individual performance criteria and a targeted level or levels of performance with respect to each of such criteria, as specified by the Committee consistent with this Section 6(i). The Committee may determine that such
Performance Awards shall be granted, exercised, and/or settled upon achievement of any one performance goal or that two or more of the performance goals must be achieved as a condition to the grant, exercise, and/or settlement of such Performance
Awards. The Committee shall establish any such performance conditions and goals based on one or more business criteria for the General Partner and/or the Partnership, on a consolidated basis, and/or for specified Affiliates or business or
geographical units of the Partnership (and such performance conditions or goals may be applied in total or on a per Unit, per barrel, or percentage basis, if applicable), all as determined by the Committee in its discretion, which may include (but
are not limited to) one or more of the following: (A) earnings per Unit, (B) revenues, (C) cash flow, (D) cash flow from operations, (E) cash flow return, (F) return on assets or on net assets, (G) return on
investment, (H) return on capital, (I) return on equity, (J) economic value added, (K) operating margin, contribution margin, gross margin, or other margin capture, (L) net income, (M) pretax earnings, (N) pretax
earnings before interest or before interest, depreciation and amortization, (O) pretax operating earnings after interest expense and before incentives, service fees, and extraordinary or special items, (P) total unitholder return,
(Q) debt reduction, (R) increase in market share, (S) change in the Fair Market Value of the Units, (T) operating income (before or after tax), (U) expenses, (V) assets or

  
 10 

 
capital employed, (W) working capital, (X) operating capacity utilized, (Y) production or sales volumes, (Z) cost of processing, (AA) completion or acquisition of a new plant;
(BB) environmental and/or safety metrics, or (CC) any of the above goals determined on an absolute or relative basis or as compared to the performance of a published or special index deemed applicable by the Committee including, but not limited to,
the Standard & Poor’s 500 Stock Index or a group of comparable companies. Performance goals may differ for Performance Awards granted to any one Participant or to different Participants. 

(ii) Performance Periods. Achievement of performance goals in respect of such Performance Awards shall be measured
over a performance period of up to ten years, as specified by the Committee. Performance goals shall be established by the Committee not later than 90 days after the beginning of any performance period applicable to such Performance Awards.

 (iii) Settlement. At the end of each performance period, the Committee shall determine the amount, if
any, of the amount of the potential Performance Award otherwise payable to each Participant, and such amount shall be paid to the Participant no later than March 15 of the year following the year that included the last day of the performance
period. Settlement of such Performance Awards shall be in cash, Units, other Awards, or other property, in the discretion of the Committee. The Committee may, in its discretion, reduce or increase the amount of a settlement otherwise to be made in
connection with such Performance Awards. The Committee shall specify the circumstances in which such Performance Awards shall be paid or forfeited in the event of termination of employment by the Participant prior to the end of a performance period
or settlement of Performance Awards. 
 (j) Certain Provisions Applicable to Awards. 

(i) Stand-Alone, Additional, Tandem, and Substitute Awards. Awards may, in the discretion of the Committee, be
granted either alone or in addition to, in tandem with, or in substitution for any other Award granted under the Plan or any award granted under any other plan of the Partnership or any Affiliate. Awards granted in addition to, in substitution for,
or in tandem with other Awards or awards granted under any other plan of the Partnership or any Affiliate may be granted either at the same time as or at a different time from the grant of such other Awards or awards. If an Award is granted in
substitution or exchange for another Award, the Committee shall require the surrender of such other Award in consideration for the grant of the new Award. Awards under the Plan may be granted in lieu of cash compensation, including in lieu of cash
amounts payable under other plans of the General Partner, the Partnership, or any Affiliate, in which the value of Units subject to the Award is equivalent in value to the cash compensation, or in which the exercise price, grant price, or purchase
price of the Award in the nature of a right that may be exercised is equal to the Fair Market Value of the underlying Units minus the value of the cash compensation surrendered. Awards granted pursuant to the preceding sentence shall be designed,
awarded, and settled in a manner that does not result in additional taxes under section 409A the Code and the 409A Regulations. 
 (ii) Limits on Transfer of Awards. 
 (A) Except as provided
in Section 6(j)(ii)(C) below, each Option and Unit Appreciation Right shall be exercisable only by the Participant during the Participant’s lifetime, or by the Person to whom the Participant’s rights shall pass by will or the laws of
descent and distribution. 

  
 11 

 (B) Except as provided in Section 6(j)(ii)(C) below, no Award and no
right under any such Award may be assigned, alienated, pledged, attached, sold, or otherwise transferred or encumbered by a Participant, and any such purported assignment, alienation, pledge, attachment, sale, transfer, or encumbrance shall be void
and unenforceable against the General Partner, the Partnership, or any Affiliate. 
 (C) To the extent
specifically provided by the Committee with respect to an Option or Unit Appreciation Right, an Option or Unit Appreciation Right may be transferred by a Participant without consideration to immediate family members or related family trusts, limited
partnerships, or similar entities or on such terms and conditions as the Committee may from time to time establish. 
 (iii) Term of Awards. The term of each Award shall be for such period as may be determined by the Committee. 
 (iv) Form and Timing of Payment under Awards; Deferrals. Subject to the terms of the Plan and any applicable Award agreement, payments to be made by the General Partner, the Partnership, or any
Affiliate upon the exercise of an Option or other Award or upon settlement of an Award may be made in such forms as the Committee shall determine, including without limitation cash, Units, other Awards, or other property, and may be made in a single
payment or transfer, in installments, or on a deferred basis; provided, however, that any such deferred payment will be set forth in the agreement evidencing such Award and/or otherwise made in a manner that will not result in
additional taxes under section 409A the Code and the 409A Regulations. Except as otherwise provided herein, the settlement of any Award may be accelerated, and cash paid in lieu of Units in connection with such settlement, in the discretion of
the Committee or upon occurrence of one or more specified events (in addition to a Change of Control). Installment or deferred payments may be required by the Committee (subject to Section 7(a) of the Plan, including the consent provisions
thereof in the case of any deferral of an outstanding Award not provided for in the original Award Agreement) or permitted at the election of the Participant on terms and conditions established by the Committee and in compliance with
section 409A the Code and the 409A Regulations. Payments may include, without limitation, provisions for the payment or crediting of reasonable interest on installment or deferred payments or the grant or crediting of DERs or other amounts in
respect of installment or deferred payments denominated in Units. This Plan shall not constitute an “employee benefit plan” for purposes of section 3(3) of the Employee Retirement Income Security Act of 1974, as amended. 

(v) Issuance of Units. The Units or other securities of the Partnership delivered pursuant to an Award may be
evidenced in any manner deemed appropriate by the Committee in its sole discretion, including, but not limited to, in the form of a certificate issued in the name of the Participant or by book entry, electronic or otherwise, and shall be subject to
such stop transfer orders and other restrictions as the Committee may deem advisable under the Plan or under the rules, regulations, and other requirements of the SEC, any stock exchange upon which such Units or other securities are then listed, and
any applicable federal or state laws. The Committee may cause a legend or legends to be inscribed on any such certificates to make appropriate reference to such restrictions. 

(vi) Consideration for Grants. Awards may be granted for such consideration, including services, as the Committee
shall determine. 
 (vii) Exemptions from Section 16(b) Liability. It is the intent of the General
Partner that the grant of any Awards to, or other transaction by, a Participant who is subject to 

  
 12 

 
section 16 of the Exchange Act shall be exempt from such section pursuant to an applicable exemption (except for transactions acknowledged in writing to be non-exempt by such Participant).
Accordingly, if any provision of this Plan or any Award Agreement does not comply with the requirements of Rule 16b-3 as then applicable to any such transaction, such provision shall be construed or deemed amended to the extent necessary to conform
to the applicable requirements of Rule 16b-3 so that such Participant shall avoid liability under section 16(b) of the Exchange Act. 
 (viii) Delivery of Units or other Securities and Payment by Participant of Consideration. Notwithstanding anything in the Plan or any Award Agreement to the contrary, delivery of Units pursuant to
the exercise, vesting, and/or settlement of an Award may be deferred for any period during which, in the good faith determination of the Committee, the General Partner is not reasonably able to obtain Units to deliver pursuant to such Award without
violating applicable law or the applicable rules or regulations of any governmental agency or authority or securities exchange. No Units or other securities shall be delivered pursuant to any Award until payment in full of any amount required to be
paid pursuant to the Plan or the applicable Award Agreement (including, without limitation, any exercise price or tax withholding) is received by the General Partner. 

(ix) Additional Agreements. Each Employee, Consultant, or Director to whom an Award is granted under this Plan may
be required to agree in writing, as a condition to the grant of such Award or otherwise, to subject an Award that is exercised or settled following such Person’s termination of services with the General Partner, the Partnership, or their
Affiliates to a general release of claims and/or a noncompetition agreement in favor of the General Partner, the Partnership, and their Affiliates, with the terms and conditions of such agreement(s) to be determined in good faith by the Committee.

 (x) Termination of Employment. Except as provided herein, the treatment of an Award upon a termination
of employment or any other service relationship by and between a Participant and the General Partner, the Partnership, or any Affiliate shall be specified in the Award Agreement controlling such Award. 

Section 7. Amendment and Termination. Except to the extent prohibited by applicable law: 

(a) Amendments to the Plan and Awards. Except as required by applicable law or the rules of the principal securities exchange, if
any, on which the Units are traded, the Board or the Committee may amend, alter, suspend, discontinue, or terminate the Plan in any manner, including increasing the number of Units available for Awards under the Plan, without the consent of any
partner, Participant, other holder or beneficiary of an Award, or any other Person. Notwithstanding the foregoing, the Committee may waive any conditions or rights under, amend any terms of, or alter any Award theretofore granted, provided that no
change, other than pursuant to Section 7(b), 7(c), 7(d), 7(e), or 7(g) below, in any Award shall materially reduce the rights or benefits of a Participant with respect to an Award without the consent of such Participant. 

(b) Subdivision or Consolidation of Units. The terms of an Award and the number of Units authorized pursuant to Section 4 for
issuance under the Plan shall be subject to adjustment from time to time, in accordance with the following provisions: 
 (i) If at any time, or from time to time, the Partnership shall subdivide as a whole (by reclassification, by a Unit split, by the issuance of a distribution on Units payable in

  
 13 

 
Units, or otherwise) the number of Units then outstanding into a greater number of Units, or in the event the Partnership distributes an extraordinary cash dividend, then, as appropriate,
(A) the maximum number of Units available for the Plan as provided in Sections 4 shall be increased proportionately, and the kind of other securities available for the Plan shall be appropriately adjusted, (B) the number of Units (or other
kind of securities) that may be acquired under any then outstanding Award shall be increased proportionately, and (C) the price (including the exercise price) for each Unit (or other kind of securities) subject to then outstanding Awards shall
be reduced proportionately, all without changing the aggregate purchase price or value as to which outstanding Awards remain exercisable or subject to restrictions. 

(ii) If at any time, or from time to time, the Partnership shall consolidate as a whole (by reclassification, by reverse
Unit split, or otherwise) the number of Units then outstanding into a lesser number of Units, (A) the maximum number of Units available for the Plan as provided in Sections 4 shall be decreased proportionately, and the kind of other securities
available for the Plan shall be appropriately adjusted, (B) the number of Units (or other kind of securities) that may be acquired under any then outstanding Award shall be decreased proportionately, and (C) the price (including the
exercise price) for each Unit (or other kind of securities) subject to then outstanding Awards shall be increased proportionately, without changing the aggregate purchase price or value as to which outstanding Awards remain exercisable or subject to
restrictions. 
 (iii) Whenever the number of Units subject to outstanding Awards and the price for each Unit
subject to outstanding Awards are required to be adjusted as provided in this Section 7(b), the Committee shall promptly prepare a notice setting forth, in reasonable detail, the event requiring adjustment, the amount of the adjustment, the
method by which such adjustment was calculated, and the change in price and the number of Units, other securities, cash, or property purchasable subject to each Award after giving effect to the adjustments. The Committee shall promptly provide each
affected Participant with such notice. 
 (iv) Adjustments under Sections 7(b)(i) and (ii) shall be made by
the Committee, and its determination as to what adjustments shall be made and the extent thereof shall be final, binding, and conclusive. No fractional interest shall be issued under the Plan on account of any such adjustments. 

(c) Recapitalizations. If the Partnership recapitalizes, reclassifies its equity securities, or otherwise changes its capital
structure (a “recapitalization”) without a Change of Control, the number and class of Units covered by an Award theretofore granted shall be adjusted so that such Award shall thereafter cover the number and class of Units and
securities to which the holder would have been entitled pursuant to the terms of the recapitalization if, immediately prior to the recapitalization, the holder had been the holder of record of the number of Units then covered by such Award, and the
Unit limitations provided in Section 4 shall be adjusted in a manner consistent with the recapitalization. 
 (d)
Additional Issuances. Except as expressly provided herein, the issuance by the Partnership of units of any class or securities convertible into units of any class, for cash, property, labor or services, upon direct sale, upon the exercise of
rights or warrants to subscribe therefor, or upon conversion of units or obligations of the Partnership convertible into such units or other securities, and in any case whether or not for fair value, shall not affect, and no adjustment by reason
thereof shall be made with respect to, the number of Units subject to Awards theretofore granted or the purchase price per Unit, if applicable. 

  
 14 

 (e) Change of Control. Notwithstanding any other provisions of the Plan or any Award
Agreement to the contrary, upon a Change of Control the Committee, acting in its sole discretion without the consent or approval of any holder, may affect one or more of the following alternatives, which may vary among individual holders and which
may vary among Awards: (i) remove any applicable forfeiture restrictions on any Award; (ii) accelerate the time of exercisability or the time at which the Restricted Period shall lapse to a specific date, before or after such Change of
Control, specified by the Committee; (iii) require the mandatory surrender to the General Partner or the Partnership by selected holders of some or all of the outstanding Awards held by such holders (irrespective of whether such Awards are then
subject to a Restricted Period or other restrictions pursuant to the Plan) as of a date, before or after such Change of Control, specified by the Committee, in which event the Committee shall thereupon cancel such Awards and pay to each holder an
amount of cash per Unit equal to the amount calculated in Section 7(f) (the “Change of Control Price”) less the exercise price, if any, applicable to such Awards; provided, however, that to the extent the
exercise price of an Option or a Unit Appreciation Right exceeds the Change of Control Price, no consideration will be paid with respect to that Award; (iv) cancel Awards that remain subject to a Restricted Period as of the date of a Change of
Control without payment of any consideration to the Participant for such Awards; or (v) make such adjustments to Awards then outstanding as the Committee deems appropriate to reflect such Change of Control (including, but not limited to, the
substitution of Awards for new awards); provided, however, that the Committee may determine in its sole discretion that no adjustment is necessary to Awards then outstanding. 

(f) Change of Control Price. The “Change of Control Price” shall equal the amount determined in clause
(i), (ii), (iii), (iv), or (v), whichever is applicable, as follows: (i) the per Unit price offered to Unit holders in any merger or consolidation, (ii) the per Unit value of the Units immediately before the Change of Control without
regard to assets sold in the Change of Control and assuming the General Partner or the Partnership, as applicable, has received the consideration paid for the assets in the case of a sale of the assets, (iii) the amount distributed per Unit in
a dissolution transaction, (iv) the price per Unit offered to Unit holders in any tender offer or exchange offer whereby a Change of Control takes place, or (v) if such Change of Control occurs other than pursuant to a transaction
described in clauses (i), (ii), (iii), or (iv) of this Section 7(f), the Fair Market Value per Unit of the Units that may otherwise be obtained with respect to such Awards or to which such Awards track, as determined by the Committee as of
the date determined by the Committee to be the date of cancellation and surrender of such Awards. In the event that the consideration offered to unitholders of the Partnership in any Change of Control transaction consists of anything other than
cash, the Committee shall determine the fair cash equivalent of the portion of the consideration offered which is other than cash. 
 (g) Impact of Corporate Events on Awards Generally. In the event of changes in the outstanding Units by reason of a recapitalization, reorganization, merger, consolidation, combination, exchange or
other relevant change in capitalization occurring after the date of the grant of any Award and not otherwise provided for by this Section 7, any outstanding Awards and any Award Agreements evidencing such Awards shall be subject to adjustment
by the Committee at its discretion, which adjustment may, in the Committee’s discretion, be described in the Award Agreement and may include, but not be limited to, adjustments as to the number and price of Units or other consideration subject
to such Awards, accelerated vesting (in full or in part) of such Awards, conversion of such Awards into awards denominated in the securities or other interests of any successor Person, or the cash settlement of such Awards in exchange for the
cancellation thereof. In the event of any such change in the outstanding Units, the aggregate number of Units available under this Plan may be appropriately adjusted by the Committee, whose determination shall be conclusive. 

  
 15 

 Section 8. General Provisions. 

(a) No Rights to Award. No Person shall have any claim to be granted any Award under the Plan, and there is no obligation for
uniformity of treatment of Participants. The terms and conditions of Awards need not be the same with respect to each recipient. 
 (b) Tax Withholding. Unless other arrangements have been made that are acceptable to the General Partner or an Affiliate, the Partnership or Affiliate is authorized to deduct, withhold, or cause to
be deducted or withheld, from any Award, from any payment due or transfer made under any Award, or from any compensation or other amount owing to a Participant the amount (in cash, Units, Units that would otherwise be issued pursuant to such Award,
or other property) of any applicable taxes payable in respect of the grant or settlement of an Award, its exercise, the lapse of restrictions thereon, or any other payment or transfer under an Award or under the Plan and to take such other action as
may be necessary in the opinion of the General Partner or Affiliate to satisfy its withholding obligations for the payment of such taxes. Notwithstanding the foregoing, with respect to any Participant who is subject to Rule 16b-3, such tax
withholding automatically shall be effected by the General Partner either by (i) “netting” or withholding Units otherwise deliverable to the Participant on the vesting or payment of such Award, or (ii) requiring the Participant
to pay an amount equal to the applicable taxes payable in cash. 
 (c) No Right to Employment or Services. The grant of
an Award shall not be construed as giving a Participant the right to be retained in the employ of the General Partner or any Affiliate, to continue providing consulting services, or to remain on the Board, as applicable. Furthermore, the General
Partner or an Affiliate may at any time dismiss a Participant from employment or his or her service relationship free from any liability or any claim under the Plan, unless otherwise expressly provided in the Plan, any Award Agreement. or other
agreement. 
 (d) Governing Law. The validity, construction, and effect of the Plan and any rules and regulations
relating to the Plan shall be determined in accordance with the laws of the State of Delaware without regard to its conflicts of laws principles. 
 (e) Severability. If any provision of the Plan or any Award is or becomes or is deemed to be invalid, illegal, or unenforceable in any jurisdiction or as to any Person or Award, or would disqualify
the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to the applicable law or, if it cannot be construed or deemed amended without, in the determination of the
Committee, materially altering the intent of the Plan or the Award, such provision shall be stricken as to such jurisdiction, Person or Award, and the remainder of the Plan and any such Award shall remain in full force and effect. If any of the
terms or provisions of the Plan or any Award Agreement conflict with the requirements of Rule 16b-3 (as those terms or provisions are applied to Participants who are subject to section 16(b) of the Exchange Act), then those conflicting terms or
provisions shall be deemed inoperative to the extent they so conflict with the requirements of Rule 16b-3 (unless the Board or the Committee, as appropriate, has expressly determined that the Plan or such Award should not comply with Rule 16b-3).

 (f) Other Laws. The Committee may refuse to issue or transfer any Units or other consideration under an Award if, in
its sole discretion, it determines that the issuance or transfer of such Units or such other consideration might violate any applicable law or regulation, the rules of the principal securities exchange on which the Units are then traded, or entitle
the Partnership or an Affiliate to recover the same under section 16(b) of the Exchange Act, and any payment tendered to the General Partner by a Participant, other holder, or beneficiary in connection with the exercise of such Award shall be
promptly refunded to the relevant Participant, holder, or beneficiary. 

  
 16 

 (g) No Trust or Fund Created. Neither the Plan nor any Award shall create or be
construed to create a trust or separate fund of any kind or a fiduciary relationship between the General Partner or any Affiliate and a Participant or any other Person. To the extent that any Person acquires a right to receive payments from the
General Partner or any Affiliate pursuant to an Award, such right shall be no greater than the right of any general unsecured creditor of the General Partner or such Affiliate. 

(h) No Fractional Units. No fractional Units shall be issued or delivered pursuant to the Plan or any Award, and the Committee
shall determine in its sole discretion whether cash, other securities, or other property shall be paid or transferred in lieu of any fractional Units or whether such fractional Units or any rights thereto shall be canceled, terminated, or otherwise
eliminated with or without consideration. 
 (i) Headings. Headings are given to the Sections and subsections of the Plan
solely as a convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision thereof. 

(j) Facility of Payment. Any amounts payable hereunder to any individual under legal disability or who, in the judgment of the
Committee, is unable to manage properly his financial affairs may be paid to the legal representative of such individual or may be applied for the benefit of such individual in any manner that the Committee may select, and the General Partner shall
be relieved of any further liability for payment of such amounts. 
 (k) Allocation of Costs. Nothing herein shall be
deemed to override, amend, or modify any cost sharing arrangement, omnibus agreement, or other arrangement between the General Partner, the Partnership, and any Affiliate regarding the sharing of costs between those entities. 

(l) Gender and Number. Words in the masculine gender shall include the feminine gender, the plural shall include the singular, and
the singular shall include the plural. 
 (m) Compliance with Section 409A. Nothing in the Plan or any Award
Agreement shall operate or be construed to cause the Plan or an Award to fail to comply with the requirements of section 409A of the Code. The applicable provisions of section 409A the Code and the 409A Regulations are hereby incorporated
by reference and shall control over any Plan or Award Agreement provision in conflict therewith. All 409A Awards shall be designed to comply with section 409A of the Code. 
 (n) Specified Employee under Section 409A of the Code. Subject to any other restrictions or limitations contained herein, in the event that a “specified employee” (as defined under
section 409A of the Code and the 409A Regulations) becomes entitled to a payment under an Award that is a 409A Award on account of a “separation from service” (as defined under section 409A of the Code and the 409A Regulations), to the
extent required by the Code, such payment shall not occur until the date that is six months plus one day from the date of such separation from service. Any amount that is otherwise payable within the six-month period described herein will be
aggregated and paid in a lump sum without interest. 
 (o) No Guarantee of Tax Consequences. None of the Board, the
Committee, the Partnership, nor the General Partner makes any commitment or guarantee that any federal, state, or local tax treatment will (or will not) apply or be available to any Participant. 

Section 9. Term of the Plan. The Plan shall be effective on the date immediately preceding the close of the initial
public offering of Units (the “Effective Date”) and shall continue until the earliest of (i) the date terminated by the Board, (ii) all Units available under the Plan have been delivered to Participants, or
(iii) the 10th anniversary of the Effective Date. However, any 

  
 17 

 
Award granted prior to such termination, and the authority of the Board or Committee to amend, alter, adjust, suspend, discontinue, or terminate any such Award or to waive any conditions or
rights under such Award, shall extend beyond such termination date. 

  
 18

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00210-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00210-of-00352.parquet"}]]