Document:

Form of Contribution, Conveyance and Assumption Agreement

 Exhibit 10.2 
 CONTRIBUTION, CONVEYANCE AND ASSUMPTION 
 AGREEMENT 

By and Among 
 SPRAGUE RESOUCES LP, 
 SPRAGUE RESOURCES GP LLC, 

AXEL JOHNSON, INC., 
 SPRAGUE RESOURCES HOLDINGS LLC, 
 SPRAGUE ENERGY SOLUTIONS INC.,

 SPRAGUE TERMINAL SERVICES INC., 
 And 
 SPRAGUE OPERATING RESOURCES LLC 

Dated as of
                    , 2011 

 CONTRIBUTION, CONVEYANCE AND ASSUMPTION 

AGREEMENT 

This Contribution, Conveyance and Assumption Agreement, dated as of
                , 2011 (this “Agreement”), is by and among Sprague Resources LP, a Delaware limited partnership (the
“Partnership”), Sprague Resources GP LLC, a Delaware limited liability company (the “General Partner”), Axel Johnson, Inc., a Delaware corporation (“AJI”), Sprague Resources Holdings LLC, a Delaware
limited liability company (“Holdings”), Sprague Energy Solutions Inc., a Delaware corporation (“Reseller”), Sprague Terminal Services Inc., a Delaware corporation (“Terminal Services”), and Sprague
Operating Resources LLC, a Delaware limited liability company (the “OLLC”). The above named entities are sometimes referred to in this Agreement individually 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, the General Partner and Holdings have formed the Partnership, pursuant to the Delaware Revised Uniform Limited Partnership Act (the “Delaware LP Act”), for the purpose of
engaging in any business activity that is approved by the General Partner and that lawfully may be conducted by a limited partnership organized pursuant to the Delaware LP Act. 

WHEREAS, each of the following actions has been taken prior to the date hereof: 

 

	 	1.	AJI formed Holdings to which AJI it contributed $2,000 in exchange for all of the membership interest in Holdings. 

 

	 	2.	Holdings formed the General Partner to which it contributed $1,000 in exchange for all of the membership interest in the General Partner. 

 

	 	3.	The General Partner and Holdings formed the Partnership to which the General Partner contributed $10 and Holdings contributed $990 in exchange for a 1% general partner
interest and a 99% limited partner interest, respectively. 

  

	 	4.	Sprague Energy Corp., a Delaware corporation (“Sprague”), formed Reseller and Terminal Services and contributed to each $1,000 in exchange for all of
the membership interests thereto. 

  

	 	5.	Sprague filed articles of conversion with the Secretary of State of the State of Delaware pursuant to which it converted into a limited liability company named
“Sprague Operating Resources LLC” and subsequently filed an election with the Internal Revenue Service (the “IRS”) on Form 8832 electing to be treated as a corporation for U.S. federal income tax purposes.

 WHEREAS, pursuant hereto, each of the following will occur on the date hereof: 

 

	 	1.	AJI will contribute all of the membership interests in the OLLC (the “OLLC Interest”) to Holdings. 

  
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	 	2.	The OLLC will file an election with the IRS on Form 8832 to be treated as an entity separate from its sole tax owner for U.S. federal income tax purposes.

  

	 	3.	The OLLC will convey certain assets related to end user fuel sales to Reseller (the “Reseller Assets”). 

WHEREAS, pursuant hereto, the following will occur on the Business Day immediately following the date on which the Underwriting
Agreement is executed: 
  

	 	1.	The OLLC will distribute to Holdings: (i) its employee-related assets, such as office equipment, building and similar “overhead” items (the
“Overhead Assets”), (ii) accounts receivable representing $             million (the “Accounts”), (iii) all of the capital stock of
Sprague Energy Canada Ltd., a corporation organized under the laws of Canada, (iv) all of the capital stock of Ekotek Inc., a Delaware corporation, (v) all of the right, title and interest of the OLLC in each of the Bucksport and
Portsmouth (Gosling Road) Terminals (the “Bucksport and Portsmouth Terminal Assets”), (vi) all of its membership interests in Sprague New York Properties LLC, a Delaware limited liability company, and (vii) all of its
membership interest in Sprague Massachusetts Properties LLC, a Delaware limited liability company, and any other right, title or interest in the assets of the New Bedford Terminal that may be held in the name of the OLLC (the “New Bedford
Terminal Assets”) (the Overhead Assets, the Accounts and the items described in clauses (iii)-(vii) hereof, the “OLLC Distribution Interest”). 

 

	 	2.	Holdings will convey to the General Partner as a capital contribution: (i) a portion of its membership interest in the OLLC (the “GP
Contribution”) with an aggregate value equal to 1% of the equity value of the Partnership based on the pricing of the initial public offering of the Partnership’s Common Units (the “Offering”) and (ii) the
Overhead Assets. 

  

	 	3.	The General Partner will convey to the Partnership the GP Contribution in exchange for a continuation of the General Partner’s 1% general partner interest in the
Partnership (the “General Partner Consideration”). 

  

	 	4.	Holdings will convey to the Partnership its remaining membership interest in the OLLC (the “Holdings Contribution”) in exchange for (a) a
continuation of Holdings’ 99% limited partner interest in the Partnership and (b) the right to receive, upon closing of the Offering, (i) the Holdings Common Units, (ii) the Holdings Subordinated Units, (iii) all of the
equity interests in the Partnership classified as Incentive Distribution Rights under the Partnership Agreement (the “IDRs”), and (iv) the right to receive the Deferred Issuance and Distribution (as defined in Article III
hereof) (collectively, the “Holdings Consideration”). 

  

	 	5.	The General Partner will file an election with the IRS on Form 8832 electing to be treated as a corporation for U.S. federal income tax purposes.

 WHEREAS, pursuant hereto, each of following will occur at the Effective Time in the order set forth
herein: 

  
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	 	1.	In connection with the Offering, (a) the public, through the Underwriters, will contribute to Holdings an amount agreed upon by the Underwriters, Holdings and the
Partnership pursuant to the Underwriting Agreement, less the Underwriters’ Spread, in exchange for the Holdings Firm Units and (b) the public, through the Underwriters, will contribute to the Partnership an amount agreed upon by the
Underwriters, Holdings and the Partnership pursuant to the Underwriting Agreement, less the Underwriters’ Spread, in exchange for the Partnership Firm Units. 

 

	 	2.	Holdings and the Partnership will pay Barclays Capital Inc. a structuring fee equal to 0.75% of the gross proceeds of the Offering (the “Structuring
Fee”). For purposes of the Structuring Fee relating to the Firm Offer, (a) the Partnership shall pay a portion of the Structuring Fee equal to the number of Common Units constituting the Partnership Firm Units divided by the number of
Firm Units (the “Partnership Structuring Fee”) and (b) Holdings shall pay a portion of the Structuring Fee equal to the number of Common Units constituting the Holdings Firm Units divided by the number of Firm Units (the
“Holdings Structuring Fee”). Holdings shall pay all portions of the Structuring Fee associated with any exercise of the Over-Allotment Option (the “Option Structuring Fee”). 

 

	 	3.	The Partnership will pay all offering expenses, estimated to be approximately $5.4 million, excluding the Underwriters’ Spread and the Structuring Fee.

  

	 	4.	The OLLC will convey certain assets related to providing certain services at Sprague’s terminals to Terminal Services (the “Terminal Services
Assets”). 

 WHEREAS, the shareholders, members or partners of the Parties have taken all
corporate, limited liability company and partnership action, respectively, as the case may be, required to approve the transactions contemplated by this Agreement; and 
 WHEREAS, Holdings and the Partnership may adjust upward or downward the number of Firm Units to be offered to the public through the Underwriters. 

NOW, THEREFORE, in consideration of the mutual covenants, representations, warranties and agreements herein contained, the
parties hereto agree as follows: 
 ARTICLE I 
 DEFINITIONS 
 The terms set forth below in this Article I shall have the
meanings ascribed to them below or in the part of this Agreement referred to below: 
 “Business Day” has the
meaning set forth in the Partnership Agreement. 
 “Commission” means the United States Securities and Exchange
Commission. 
 “Common Unit” means a common unit representing a limited partner interest in the Partnership
having the rights set forth in the Partnership Agreement. 

  
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 “Effective Time” means 8:00 a.m. prevailing Eastern Time on the date of the
closing of the Offering. 
 “Firm Units” means the Common Units to be sold to the Underwriters pursuant to the
terms of the Underwriting Agreement, but does not include any Option Units. 
 “Holdings Common Units” means
                     Common Units; provided, that if the number of Firm Units to be offered in the Offering increases, the Holdings
Common Units will be decreased by a number of Common Units equal to 115% of such increase in the number of Firm Units, and if the number of Firm Units to be offered in the Offering decreases, the Holdings Common Units will be increased by a number
of Common Units equal to 115% of such decrease in the number of Firm Units. 
 “Holdings Firm Units” means
                     Common Units; provided, that any increase or decrease in the number of Firm Units to be offered in the Offering
will have a corresponding increase or decrease in the number of Holdings Firm Units to be offered in the Offering. 

“Holdings Subordinated Units” means
                     Subordinated Units. 
 “Option Closing Date” has the meaning assigned to it in the Partnership Agreement. 
 “Option Units” means the Common Units that the Partnership will agree to issue upon an exercise of the Over-Allotment Option. 

“Original Partnership Agreement” means that certain Agreement of Limited Partnership of the Partnership, dated as of
June 23, 2011. 
 “Over-Allotment Option” has the meaning set forth in the Partnership Agreement.

 “Partnership Agreement” means the First Amended and Restated Agreement of Limited Partnership of the
Partnership, substantially in the form attached as Appendix A to the Registration Statement. 
 “Partnership Firm
Units” means the number of Common Units to be offered in the Offering equal to the number of Firm Units less the number of Holdings Firm Units. 
 “Registration Statement” means the Registration Statement on Form S-1 filed with the Commission (Registration No. 333-175826), as amended. 

“Subordinated Unit” means a subordinated unit representing a limited partner interest in the Partnership having the
rights set forth in the Partnership Agreement. 
 “Underwriters” means the underwriters listed in the
Underwriting Agreement. 
 “Underwriters’ Spread” means the total amount of the Underwriters’
discount. 
 “Underwriting Agreement” means a firm commitment underwriting agreement to be entered into by and
among Holdings, the Partnership, the General Partner and the Underwriters. 

  
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 ARTICLE II 
 CONTRIBUTIONS, ACKNOWLEDGEMENTS AND DISTRIBUTIONS 
 (A) The following shall
be completed on the date hereof in the order set forth herein: 
 Section 2.1 Conveyance of the OLLC Interest by AJI to
Holdings. AJI hereby grants, contributes, bargains, conveys, assigns, transfers, sets over and delivers to Holdings, its successors and its assigns, for its and their own use forever, all right, title and interest in and to the OLLC
Interest, and Holdings hereby accepts the OLLC Interest. 
 Section 2.2 Form 8832 Election by the OLLC. The OLLC
hereby agrees to file with the IRS an election on Form 8832 electing to be treated as an entity separate from its sole tax owner for U.S. federal income tax purposes. 
 Section 2.3 Conveyance of the Reseller Assets by the OLLC to Reseller. The OLLC hereby grants, contributes, bargains, conveys, assigns, transfers, sets over and delivers to the Reseller, its
successors and its assigns, for its and their own use forever, all right, title and interest in and to the Reseller Assets, and the Reseller hereby accepts the Reseller Assets. 

TO HAVE AND TO HOLD, the Reseller Assets unto Reseller, its successors and assigns, together with all and singular the rights and
appurtenances thereto in anywise belonging, subject, however, to the terms and conditions stated in this Agreement and in such instruments of conveyance, forever. 
 (B) The following will occur on the Business Day immediately following the date on which the Underwriting Agreement is executed: 
 Section 2.4 Distribution of OLLC Distribution Interest by the OLLC to Holdings. The OLLC hereby grants, distributes, bargains, conveys, assigns, transfers, sets over and delivers to
Holdings, its successors and its assigns, for its and their own use forever, all right, title and interest in and to the Sprague Interest, and Holdings hereby accepts the OLLC Distribution Interest. 

TO HAVE AND TO HOLD, each of the Overhead Assets, the Accounts, the Bucksport and Portsmouth Terminal Assets and the New Bedford Terminal
Assets unto Holdings, its successors and assigns, together with all and singular the rights and appurtenances thereto in anywise belonging, subject, however, to the terms and conditions stated in this Agreement and in such instruments of conveyance,
forever. 
 Section 2.5 Conveyance of GP Contribution and Overhead Assets by Holdings to the General Partner.
Holdings hereby grants, contributes, bargains, conveys, assigns, transfers, sets over and delivers to the General Partner, its successors and its assigns, for its and their own use forever, all right, title and interest in and to each of the GP
Contribution and the Overhead Assets, and the General Partner hereby accepts the GP Contribution and the Overhead Assets. 
 TO
HAVE AND TO HOLD, the Overhead Assets unto the General Partner, its successors and assigns, together with all and singular the rights and appurtenances thereto in 

  
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anywise belonging, subject, however, to the terms and conditions stated in this Agreement and in such instruments of conveyance, forever. 

Section 2.6 Conveyance of GP Contribution by the General Partner to the Partnership. The General Partner hereby grants,
contributes, bargains, conveys, assigns, transfers, sets over and delivers to the Partnership, its successors and its assigns, for its and their own use forever, all right, title and interest in and to the GP Contribution, and the Partnership hereby
accepts the GP Contribution, in exchange for the General Partner Consideration. 
 Section 2.7 Conveyance of Holdings
Contribution by Holdings to the Partnership. Holdings hereby grants, contributes, bargains, conveys, assigns, transfers, sets over and delivers to the Partnership, its successors and its assigns, for its and their own use forever, all right,
title and interest in and to the Holdings Contribution, and the Partnership hereby accepts the Holdings Contribution, in exchange for the Holdings Consideration. 
 Section 2.8 Form 8832 Election by the General Partner. The General Partner hereby agrees to file with the IRS an election on Form 8832 electing to be treated as a corporation for U.S.
federal income tax purposes. 
 (C) The following shall be completed at the Effective Time in the order set forth herein:

 Section 2.9 Execution of the Partnership Agreement. The Partnership, the General Partner and Holdings shall
amend and restate the Original Partnership Agreement by executing the Partnership Agreement in substantially the form included in Appendix A to the Registration Statement, with such changes as are necessary to reflect any adjustment to the number of
Firm Units and Option Units as the Partnership and Holdings may agree with the Underwriters and such other changes as the Partnership, the General Partner and Holdings may agree. 

Section 2.10 Contribution of Cash by the Public Through the Underwriters. The Parties acknowledge that the Holdings and the
Partnership are undertaking the Offering and the public, through the Underwriters will, pursuant to the Underwriting Agreement, agree to make a capital contribution (a) to Holdings of an amount determined pursuant to the Underwriting Agreement
in exchange for the sale of the Holdings Firm Units and (b) to the Partnership of an amount determined pursuant to the Underwriting Agreement in exchange for the issuance and sale of the Partnership Firm Units. 

Section 2.11 Payment of Structuring Fee. Holdings and the Partnership agree to pay Barclays Capital Inc. the Holdings
Structuring Fee and the Partnership Structuring Fee, respectively. 
 Section 2.12 Payment of Transaction
Expenses. The Parties acknowledge the payment by the Partnership, in connection with the transactions contemplated hereby and by the Registration Statement, of estimated transaction expenses in the amount of $5.4 million (exclusive of the
Underwriters’ Spread and the Structuring Fee). 
 Section 2.13 Conveyance of the Terminal Services Assets by OLLC to
Terminal Services. The OLLC hereby grants, contributes, bargains, conveys, assigns, transfers, sets over 

  
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and delivers to the Reseller, its successors and its assigns, for its and their own use forever, all right, title and interest in and to the Terminal Services Assets, and Terminal Services hereby
accepts the Terminal Services Assets. 
 TO HAVE AND TO HOLD, the Terminal Services Assets unto Terminal Services, its
successors and assigns, together with all and singular the rights and appurtenances thereto in anywise belonging, subject, however, to the terms and conditions stated in this Agreement and in such instruments of conveyance, forever. 

ARTICLE III 

DEFERRED ISSUANCE AND DISTRIBUTION 
 Section 3.1 Deferred Issuance and Distribution; Payment of the Option Structuring Fee. If the Over-Allotment Option is exercised in whole or in part, the public, through the Underwriters,
make an additional capital contribution to the Partnership in cash in an amount determined pursuant to the Underwriting Agreement in exchange for the sale of the Option Units. Upon the earlier to occur of the expiration of the Over-Allotment Option
period or the exercise in full of the Over-Allotment Option, the Partnership will issue to Holdings a number of additional Common Units that is equal to the excess, if any, of (x) the maximum number of Option Units issuable pursuant to the
Over-Allotment Option over (y) the aggregate number of Option Units, if any, actually purchased by and issued to the Underwriters pursuant to any exercise(s) of the Over-Allotment Option. Upon each Option Closing Date, the Partnership shall
make a distribution to Holdings in cash in an aggregate amount equal to the total amount of proceeds received by the Partnership from such exercise of the Over-Allotment Option, net of the Underwriters’ Spread, as reimbursement for certain
capital expenditures made by Holdings prior to the transactions described in the Registration Statement. Both the additional Common Units issuable and the cash distributions distributable to Holdings (collectively, the “Deferred Issuance and
Distribution”), when issued and/or distributed, shall be issued and distributed to Holdings. Holdings hereby agrees to pay to Barclays Capital Inc. the applicable Option Structuring Fee associated with any exercise of the Over-Allotment
Option. 
 ARTICLE IV 
 OTHER ASSURANCES 
 Section 4.1 Further Assurances. From time
to time after the Effective 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 and (c) more fully and effectively to carry out the purposes and intent of this Agreement. 

  
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 Section 4.2 Cash Attributable to the Accounts. The General Partner hereby
agrees to cause the Partnership and its subsidiaries to promptly transmit to Holdings any cash received attributable to any of the Accounts. 
 ARTICLE V 
 EFFECTIVE TIME 

The provisions of Article II(A) shall be effective and operative immediately following the execution of this Agreement. Notwithstanding
anything contained in this Agreement to the contrary, none of the provisions of Article II(B), Article II(C), Article III or Article IV shall be operative or have any effect until the Underwriting Agreement has been executed by each of the parties
thereto, at which time all such provisions shall be effective and operative in accordance this Agreement without further action by any Party. 
 ARTICLE VI 
 MISCELLANEOUS 

Section 6.1 Order of Completion of Transactions. The transactions provided for in (a) Article II(A) of this Agreement
shall be completed immediately following the execution of this Agreement, (b) Article II(B) of this Agreement shall be completed on the Business Day immediately following the execution of the Underwriting Agreement by each of the parties
thereto and (c) Article II(C) and Article III of this Agreement shall be completed immediately following the Effective Time in the following order: first, the transactions provided for in Article II(A) shall be completed in the order set forth
therein; second, the transactions provided for in Article II(B) shall be completed in the order set forth therein; third, the transactions provided for in Article II(C) shall be completed in the order set forth therein; and fourth, following the
completion of the transactions provided for in Article II(C), the transactions provided for in Article III, if they occur, shall be completed. 
 Section 6.2 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, including, without
limitation, all Schedules and Exhibits attached hereto, and not to any particular provision of this Agreement. All references herein to Articles, Sections, Schedules and Exhibits shall, unless the context requires a different construction, be deemed
to be references to the Articles and Sections of this Agreement and the Schedules and Exhibits attached hereto, and all such Schedules and Exhibits attached hereto are hereby incorporated herein and made a part hereof for all purposes. 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. 

  
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 Section 6.3 Successors and Assigns. This Agreement shall be binding upon and
inure to the benefit of the Parties and their respective successors and assigns. 
 Section 6.4 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 6.5
Counterparts. This Agreement may be executed in any number of counterparts with the same effect as if all Parties had signed the same document. All counterparts shall be construed together and shall constitute one and the same instrument.

 Section 6.6 Applicable Law; Forum, Venue and Jurisdiction. This Agreement shall be construed in accordance with
and governed by the laws of the State of Delaware. Each of the Parties (i) irrevocably agrees that any claims, suits, actions or proceedings arising out of or relating in any way to this Agreement shall be exclusively brought in the Court of
Chancery of the State of Delaware, in each case regardless of whether such claims, suits, actions or proceedings sound in contract, tort, fraud or otherwise, are based on common law, statutory, equitable, legal or other grounds, or are derivative or
direct claims; (ii) irrevocably submits to the exclusive jurisdiction of the Court of Chancery of the State of Delaware in connection with any such claim, suit, action or proceeding; (iii) agrees not to, and waives any right to, assert in
any such claim, suit, action or proceeding that (A) it is not personally subject to the jurisdiction of the Court of Chancery of the State of Delaware or of any other court to which proceedings in the Court of Chancery of the State of Delaware
may be appealed, (B) such claim, suit, action or proceeding is brought in an inconvenient forum, or (C) the venue of such claim, suit, action or proceeding is improper; (iv) expressly waives any requirement for the posting of a bond
by a party bringing such claim, suit, action or proceeding; and (v) consents to process being served in any such claim, suit, action or proceeding by mailing, certified mail, return receipt requested, a copy thereof to such party at the address
in effect for notices hereunder, and agrees that such services shall constitute good and sufficient service of process and notice thereof; provided, nothing in clause (v) hereof shall affect or limit any right to serve process in any
other manner permitted by law. 
 Section 6.7 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 provision 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 6.8 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. 

  
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 Section 6.9 Integration. This Agreement constitutes the entire agreement among
the Parties with respect to the subject matter hereof and supersedes all prior contracts or agreements among the Parties with respect to the subject matter hereof and the matters addressed or governed hereby, whether oral or written. 

Section 6.10 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. 
 Section 6.11 Costs. Each transferee/assignee hereunder shall pay all sales, use and similar taxes arising out of the contributions, conveyances and deliveries to be made hereunder, and shall
pay all documentary, filing, recording, transfer, deed and conveyance taxes and any fees required in connection therewith. 

[Signature Pages Follow] 

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

					
	SPRAGUE RESOURCES LP
		
	By:	 	SPRAGUE RESOURCES GP LLC, its general
partner
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	
	
	SPRAGUE RESOURCES GP LLC
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	
	
	AXEL JOHNSON, INC.
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	
	
	SPRAGUE RESOURCES HOLDINGS LLC
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	
	
	SPRAGUE ENERGY SOLUTIONS INC.
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	

  
 IV-1

 
					
	SPRAGUE TERMINAL SERVICES INC.
			
	By:	 	 	 	 
		 	Name:	 	
		 	Title:	 	
	
	SPRAGUE OPERATING RESOURCES LLC
			
	By:	 	 	 	 
		 	Name:	 	
		 	Title:	 	

 Signature Page to Contribution, Conveyance and Assumption AgreementForm of Omnibus Agreement

 Exhibit 10.4 

 
  

 
 OMNIBUS AGREEMENT

 among 
 AXEL JOHNSON INC., 
 SPRAGUE RESOURCES HOLDINGS LLC, 

SPRAGUE RESOURCES LP 
 and 
 SPRAGUE RESOURCES GP LLC 

 
  

 

 OMNIBUS AGREEMENT 

This OMNIBUS AGREEMENT (“Agreement”) is entered into on, and effective as of,
                    , 2011 among Axel Johnson Inc. (“Axel Johnson”), Sprague Resources Holdings LLC, a Delaware limited liability
company (“Sprague Holdings”), Sprague Resources LP, a Delaware limited partnership (the “Partnership”), and Sprague Resources 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.” 

RECITALS: 
 Upon the closing of the initial public offering of the Partnership (the “Initial Offering”), each of the Parties desires to enter into this Omnibus Agreement in order to address (i) the
agreement of Axel Johnson to offer to the Partnership and to cause its controlled Affiliates to offer to the Partnership opportunities to acquire certain businesses and assets and (ii) the obligation of Sprague Holdings to indemnify the
Partnership for certain liabilities. 
 ARTICLE I 

Definitions 
 As used in this Agreement, all capitalized terms not otherwise defined herein shall have the respective meanings set forth in the First Amended and Restated Agreement of Limited Partnership of Sprague
Resources LP dated as of                     , 2011. 
 ARTICLE II 
 Right of First Refusal 

Axel Johnson hereby agrees, and will cause its controlled Affiliates to agree, for so long as Axel Johnson or its controlled Affiliates,
individually or as part of a group, control the General Partner, that if Axel Johnson or any of its controlled Affiliates has the opportunity to acquire a controlling interest in any assets or any business having assets that are primarily engaged in
the businesses in which the Partnership is engaged as of the closing of the Initial Offering and that operate primarily in the United States or Quebec, Ontario or the Maritimes, Canada, then Axel Johnson or its controlled Affiliates will offer such
acquisition opportunity to the Partnership and give the Partnership a reasonable opportunity to acquire such assets or business either before Axel Johnson or its controlled Affiliates acquire it or promptly after the consummation of such acquisition
by Axel Johnson or its controlled Affiliates, at a price equal to the purchase price paid or to be paid by Axel Johnson or its controlled Affiliates plus any related transactions costs and expenses incurred by Axel Johnson or its controlled
Affiliates. The Partnership’s decision to acquire or not acquire any such assets or businesses will require the approval of the Conflicts Committee. Any assets or businesses that the Partnership does not acquire pursuant to this right of first
refusal may be acquired and operated by Axel Johnson or its controlled Affiliates. 

 This right of first refusal will not apply to: 

 

	 	•	 	 Any acquisition of any additional interests in any assets or businesses owned by Axel Johnson or its controlled Affiliates as of the closing of the
Initial Offering but not contributed to the Partnership in connection with the Initial Offering, including any replacements and natural extensions thereof and 9047-1137 Quebec, Inc. (“Kildair), a corporation which owns all of the equity
interests in Kildair Service Ltd., an asphalt and residual fuel oil marketing and storage company (including the remaining ownership interest in Kildair that Axel Johnson and its Affiliates do not own as of the closing of the Initial Offering and
any replacements and natural extensions thereof); 

  

	 	•	 	 Any investment in or acquisition of any assets or businesses primarily engaged in the businesses in which the Partnership is engaged as of the closing
of the Initial Offering and that do not operate primarily in the United States or Quebec, Ontario or the Maritimes, Canada; 

  

	 	•	 	 Any investment in or acquisition of a minority non-controlling interest in any assets or businesses primarily engaged in the businesses described
above; or 

  

	 	•	 	 Any investment in or acquisition of any assets or businesses that Axel Johnson or its controlled Affiliates, as of the closing of the Initial Offering,
are actively seeking to invest in or acquire, or have the right to invest in or acquire. 

 ARTICLE III

 Right of Negotiation 
 Axel Johnson hereby agrees and will cause its controlled Affiliates to agree, for so long as Axel Johnson or its controlled Affiliates, individually or as part of a group, control the General Partner,
that if Axel Johnson or any of its controlled Affiliates decide to attempt to sell (other than to another controlled Affiliate of Axel Johnson) any assets or businesses that are primarily engaged in a business in which the Partnership is engaged as
of the closing of the Initial Offering and that operate primarily in the United States or Quebec, Ontario or the Maritimes, Canada (including its equity interests in Kildair), Axel Johnson or its controlled Affiliate will notify the Partnership of
its desire to sell such assets or businesses and, prior to selling such assets or businesses to a third party, will negotiate with the Partnership exclusively and in good faith for a period of 60 days in order to give the Partnership an opportunity
to enter into definitive documentation for the purchase and sale of such assets or businesses on terms that are mutually acceptable to Axel Johnson or its controlled Affiliate and the Partnership. If the Partnership and Axel Johnson or its
controlled Affiliate have not entered into a letter of intent or a definitive purchase and sale agreement with respect to such assets or businesses within such 60 days, Axel Johnson or its controlled Affiliate will have the right to sell such assets
or businesses to a third party following the expiration of such 60 days on any terms that are acceptable to Axel Johnson or its controlled Affiliate and such third party. The Partnership’s decision to acquire or not to acquire assets or
businesses pursuant to this right will require the approval of the Conflicts Committee. 

  
 2 

 ARTICLE IV 
 Indemnification 
 Sprague Holdings will indemnify the Partnership for
losses attributable to a failure to own any of the equity interests contributed to the Partnership in connection with the formation transactions described in the Registration Statement and income taxes attributable to operations ending at the
beginning of the day after the Closing Date and the formation transactions described in the Registration Statement. 

NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, IN NO EVENT SHALL ANY PARTY’S INDEMNIFICATION OBLIGATION HEREUNDER COVER OR INCLUDE
CONSEQUENTIAL, INDIRECT, INCIDENTAL, PUNITIVE, EXEMPLARY, SPECIAL OR SIMILAR DAMAGES OR LOST PROFITS SUFFERED BY ANY OTHER PARTY ENTITLED TO INDEMNIFICATION UNDER THIS AGREEMENT. 

ARTICLE V 

Miscellaneous 
 5.1    Choice of Law; Submission to Jurisdiction. This Agreement shall be subject to and governed by the laws of the State of Delaware, excluding any conflicts-of-law rule or
principle that might refer the construction or interpretation of this Agreement to the laws of another state. 

5.2    Notice. All notices or requests or consents provided for by, or permitted to be given pursuant to, this
Agreement must be in writing and must be given by depositing same in the United States mail, addressed to the Person to be notified, postpaid, and registered or certified with return receipt requested or by delivering such notice in person or by
facsimile to such Party. Notice given by personal delivery or mail shall be effective upon actual receipt. Notice given by facsimile shall be effective upon actual receipt if received during the recipient’s normal business hours or at the
beginning of the recipient’s next business day after receipt if not received during the recipient’s normal business hours. All notices to be sent to a Party pursuant to this Agreement shall be sent to or made at the address set forth below
such Party’s signature to this Agreement or at such other address as such Party may stipulate to the other Parties in the manner provided in this Section 5.2. 
 If to Axel Johnson: 
 155 Spring Street, 6th Floor 

New York, NY 10012 
 Attn: Michael D. Milligan, President and CEO 
 Facsimile: 212-966-9516 

  
 3 

 If to Sprague Holdings: 

2 International Drive 
 Suite 200 
 Portsmouth NH 03801 

Attn: Paul A. Scoff, Vice President & General 
 Counsel Facsimile: 603-430-5324 
 If to the Partnership or the General Partner:

 Sprague Resources GP LLC 
 Two International Drive, Suite 200 
 Portsmouth, New Hampshire 03801 

Attn: Paul A. Scoff, Vice President and General 
 Counsel Facsimile: 603-430-5324 
 5.3    Entire
Agreement. This Agreement constitutes the entire agreement of the Parties relating to the matters contained herein, superseding all prior contracts or agreements, whether oral or written, relating to the matters contained herein. 

5.4    Termination of Agreement. This Agreement, other than the provisions set forth in Article IV
hereof, may be terminated by any Party in the event that Axel Johnson, directly or indirectly, owns less than 50% of the voting equity of the General Partner. For avoidance of doubt, the Parties’ indemnification obligations under Article
IV shall survive the termination of this Agreement in accordance with their respective terms. 

5.5    Amendment or Modification. This Agreement may be amended or modified from time to time only by the
written agreement of all the Parties hereto. Each such instrument shall be reduced to writing and shall be designated on its face an “Amendment” or an “Addendum” to this Agreement. 

5.6    Assignment. No Party shall have the right to assign its rights or obligations under this Agreement
without the consent of the other Parties hereto; provided, however, that the Partnership may make a collateral assignment of this Agreement solely to secure working capital financing for the Partnership. 

5.7    Counterparts. This Agreement may be executed in any number of counterparts with the same effect as if
all signatory parties had signed the same document. All counterparts shall be construed together and shall constitute one and the same instrument. Delivery of an executed signature page of this Agreement by facsimile transmission or in portable
document format (.pdf) shall be effective as delivery of a manually executed counterpart hereof. 

5.8    Severability. If any provision of this Agreement shall be held invalid or unenforceable by a court or
regulatory body of competent jurisdiction, the remainder of this Agreement shall remain in full force and effect. 

5.9    Further Assurances. In connection with this Agreement and all transactions contemplated by this
Agreement, each signatory party hereto agrees to execute and deliver such 

  
 4 

 
additional documents and instruments and to perform such additional acts as may be necessary or appropriate to effectuate, carry out and perform all of the terms, provisions and conditions of
this Agreement and all such transactions. 
 5.10    Rights of Limited Partners. The provisions of
this Agreement are enforceable solely by the Parties to this Agreement, and no Limited Partner of the Partnership shall have the right, separate and apart from the Partnership, to enforce any provision of this Agreement or to compel any Party to
this Agreement to comply with the terms of this Agreement. 

  
 5 

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

			
	AXEL JOHNSON INC.
		
	 By:
	 	      

	 Name:
	 	
	 Title:
	 	

  

			
	SPRAGUE RESOURCES HOLDINGS LLC
		
	 By:
	 	      

	 Name:
	 	
	 Title:
	 	

  

			
	 SPRAGUE RESOURCES LP
  

By: Sprague Resources GP LLC,
 its general partner

		
	 By:
	 	      

	 Name:
	 	
	 Title:
	 	

  

			
	SPRAGUE RESOURCES GP LLC
		
	 By:
	 	      

	 Name:
	 	
	 Title:

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