Document:

Form of 4.20% Senior Notes

 Exhibit 4.1 

 

					
	LINCOLN NATIONAL CORPORATION	  
	
	4.20% Senior Note due 2022	  
	[Registered]	 	 	CUSIP 534187 BC2	  
		 	 	ISIN US534187BC24	  
	No. R-1	 	 	U.S.$300,000,000	  

 UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY (AS DEFINED BELOW) OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH
OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF DTC OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN
PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN DTC OR SUCH NOMINEE, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 

Lincoln National Corporation, a corporation organized and existing under the laws of the State of Indiana (hereinafter called the
“Company”, which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of THREE

 
HUNDRED MILLION DOLLARS ($300,000,000) on March 15, 2022 and to pay interest thereon from March 29, 2012 or from the most recent interest payment date to which interest has been paid or
duly provided for, semi-annually in arrears on March 15 and September 15 in each year, commencing on September 15, 2012 (each, an “Interest Payment Date”), at the rate of 4.20% per annum. The period beginning on
March 29, 2012 and ending on but excluding the first Interest Payment Date and each successive period beginning on and including an Interest Payment Date and ending on but excluding the next succeeding Interest Payment Date is herein called an
“Interest Period”. If any Interest Payment Date falls on a day which is not a Business Day, such Interest Payment Date shall be postponed to the next succeeding Business Day. If March 15 or September 15 of any year is not a
Business Day (with the consequence that the related interest payment shall be made on the next succeeding Business Day, which shall be the relevant Interest Payment Date as set forth above), such payment shall be made on such Interest Payment Date
in the amount that would otherwise have been due on March 15 or September 15 and no interest on such payment shall accrue for the period from and after March 15 or September 15 to such postponed Interest Payment Date, and the
next succeeding Interest Period shall begin on March 15 or September 15 on which such payment originally would have been made. If March 15, 2022 shall not be a Business Day, payment of the principal and interest due on that date need
not be made on that day but may be made on the next day that is a Business Day with the same force and effect as if made on March 15, 2022, provided that no interest shall accrue for the period from and after March 15, 2022. The interest
so payable and punctually paid or duly provided for on any Interest Payment Date will, as provided in the Indenture, be paid to the person in whose name this Note is registered at the close of business on March 1 or September 1 (whether or
not a Business Day) immediately preceding the Interest Payment Date, as applicable (each respectively a “Record Date”), subject to certain exceptions as provided in the Indenture. Payment of the principal of, and interest on, this Note
will be made at the designated office or agency of the Company maintained for such purpose in The City of New York, New York in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and
private debt or, at the option of the Company, interest so payable may be paid by check to the order of said Holder mailed to his address appearing on the Security Register. Any interest not so punctually paid or duly provided for shall be payable
as provided in the Note. Interest on this Note will be computed on the basis of a 360-day year consisting of twelve 30-day months. 
 Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place.

 Unless the certificate of authentication hereon has been executed by the Trustee by manual signature, this Note shall not be
entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
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 IN WITNESS WHEREOF, Lincoln National Corporation has caused this instrument to be duly
executed under its corporate seal. 
  

									
		 		 		 	LINCOLN NATIONAL CORPORATION
					
		 		 		 	By:	 	 
		 		 		 		 	 Name:

Title:

					
		 		 		 	By:	 	 
		 		 		 		 	 Name:

Title:

					
	Attest:	 	 	 		 		 	
	Name:	 	 Name:
 Title:
	 		 		 	

 Dated: 

  
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 Dated: 
 Trustee’s Certificate of Authentication 
 This is one of the Securities of
the series designated herein and referred to in the within-mentioned Indenture. 
  

			
	THE BANK OF NEW YORK MELLON, as Trustee
		
	By:	 	 
		 	Authorized Signatory

  
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 [Reverse of Note] 
 LINCOLN NATIONAL CORPORATION 
 4.20% Senior Note due 2022 

This Note is one of a duly authorized issue of Securities of the Company of a series hereinafter specified, all issued and to be issued
under the Senior Indenture, dated as of March 10, 2009 (hereinafter the “Indenture”), between the Company and The Bank of New York Mellon, as Trustee (hereinafter the “Trustee”, which term includes any successor Trustee
under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holder of
the Securities and the terms upon which the Securities are, and are to be, authenticated and delivered. The Securities may be issued in one or more series, the terms of which different series may vary as provided in the Indenture. This Note is one
of a series of the Securities of the Company designated as its 4.20% Senior Notes due 2022 (herein called the “Notes”), limited initially in aggregate principal amount to $300,000,000, except as otherwise provided in the Indenture. The
Notes of this series are issuable in registered form only in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. 
 All terms used in this Note that are defined in the Indenture shall have the meanings assigned to them in the Indenture. 
 The Notes are redeemable, in whole or in part, at the option of the Company, at any time or from time to time, upon mailed notice to the registered address of each Holder of the Notes at least 30 days but
not more than 60 days prior to the redemption. The redemption price will be the greater of (i) 100% of the principal amount of the Notes to be redeemed and (ii) the make-whole amount, plus in each case accrued and unpaid interest to the
date of redemption. “Make-whole amount” means the sum of the present values of the remaining scheduled payments on the Notes, discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day
months), at a rate equal to the sum of the applicable treasury rate plus 30 basis points. 
 “Comparable treasury
issue” means the U.S. Treasury security selected by a reference treasury dealer as having an actual or interpolated maturity comparable to the remaining term of the Notes called for redemption, that would be utilized, at the time of selection
and in accordance with customary financial practice, in pricing new issues of corporate debt securities with a term comparable to such period. 
 “Comparable treasury price” means, with respect to a redemption date, (1) the average of five reference treasury dealer quotations for such redemption date, after

  
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excluding the highest and lowest reference treasury dealer quotations, or (2) if the quotation agent obtains fewer than five such reference treasury dealer quotations, the average of all
such quotations. 
 “Quotation agent” means the entity appointed by the Company, which in any case shall not be the
Trustee, to determine the make-whole amount. 
 “Reference treasury dealer” means (1) Credit Suisse Securities
(USA) LLC and Morgan Stanley & Co. LLC and (2) any additional primary U.S. government securities dealers, including dealers outside New York City (each, a “primary treasury dealer”) selected by the Company and their
successors, provided, however, that if any of them ceases to be a primary treasury dealer the Company will substitute another primary treasury dealer. 
 “Reference treasury dealer quotations” means, with respect to each reference treasury dealer and any redemption date, the average, as determined by the quotation agent, of the bid and ask prices
for the comparable treasury issue (expressed in each case as a percentage of its principal amount) quoted in writing to the quotation agent at 5:00 p.m., New York City time, on the third business day preceding such redemption date. 

“Remaining scheduled payments” means the remaining scheduled payments of principal and interest on the Notes called for
redemption that would be due after the related redemption date but for that redemption. If that redemption date is not an Interest Payment Date with respect to the Notes called for redemption, the amount of the next succeeding scheduled interest
payment on such Notes will be reduced by the amount of interest accrued to such redemption date. 
 “Treasury rate”
means, with respect to any redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity (computed as of the third Business Day immediately preceding that redemption date) of the comparable treasury issue, assuming a
price for the comparable treasury issue (expressed as a percentage of its principal amount) equal to the comparable treasury price for that redemption date. 
 The Company will prepare and mail a notice of redemption to each Holder of Notes to be redeemed by first-class mail at least 30 and not more than 60 days prior to the date fixed for redemption. On and
after a redemption date, interest will cease to accrue on the Notes called for redemption (unless the Company defaults in the payment of the redemption price and accrued interest). On or before a redemption date, the Company will deposit with a
paying agent (or the Trustee) money sufficient to pay the redemption price of and accrued interest on the Notes to be redeemed on that date. If less than all of the Notes are to be redeemed, the Notes to be redeemed shall be selected by the Trustee
pro rata or by lot or by a method the Trustee deems to be fair and appropriate. 

  
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 The Notes are not entitled to any sinking fund. If an Event of Default shall occur with
respect to the Notes, the principal of the Notes may be declared due and payable in the manner and with the effect provided in the Indenture. 
 The Indenture contains provisions for defeasance at any time of the Notes, upon which the Company, at its option, shall be deemed to have been discharged from its obligations with respect to the Notes or
shall cease to be under any obligation to comply with certain restrictive covenants of the Indenture. 
 Subject to certain
exceptions, the Indenture or the Notes may be amended or supplemented with the consent of the Holders of at least a majority in principal amount of the Outstanding Securities affected by such amendment or supplement voting as one class. Without the
consent of any Holder, the Company and the Trustee may amend or supplement the Indenture or the Notes to, among other things, cure any ambiguity, defect or inconsistency. Subject to certain exceptions, any past default or Event of Default may be
waived by the Holders of at least a majority in principal amount of the Outstanding Securities of any series affected on behalf of the Holders of the Securities of that series or the Holders of at least a majority in principal amount of all the
Outstanding Securities voting as one class. After the amendment or supplement is effective, any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any
Note issued upon the transfer hereof or in exchange hereunder or in lieu hereof whether or not notation of such consent or waiver is made upon this Note or upon any Note issued upon the transfer hereof or in exchange herefor or in lieu hereof.

 No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation
of the Company, which is absolute and unconditional, to pay the principal of, and interest on, this Note at the times, place, and rate, and in the coin or currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, this Note is transferable on the Security Register of
the Company, upon surrender of this Note for transfer at the office or agency of the Company in The City of New York, New York, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security
Registrar, duly executed by the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or
transferees. 
 As provided in the Indenture and subject to certain limitations therein set forth, this Note is exchangeable for
a like aggregate principal amount of Notes of different authorized denominations as requested by the Holder surrendering the same. 

  
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 No service charge will be made for any such transfer or exchange, but the Company may
require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 The
Company, the Trustee and any agent of the Company or the Trustee may treat the person in whose name this Note is registered as the owner hereof for the purpose of receiving payment as herein provided and for all other purposes whether or not this
Note be overdue, and neither the Company, the Trustee nor any agent shall be affected by notice to the contrary. 
 No recourse
shall be had for the payment of the principal of, or the interest on, this Note or for any claim based hereon or otherwise in any manner in respect hereof, or in respect of the Indenture, against any incorporator, shareholder, officer or director,
as such, past, present or future, of the Company or of any predecessor or, except as provided in the Indenture, successor corporation, whether by virtue of any constitutional provision or statute or rule of law, or by the enforcement of any
assessment or penalty or in any other manner, all such liability being expressly waived and released by the acceptance hereof and as part of the consideration for the issue hereof. 

  
 -8-Form of Phantom Unit Grant Agreement under 2012 Long-Term Incentive Plan

 Exhibit 10.14 
 ATLAS RESOURCE PARTNERS, L.P. 
 2012 LONG-TERM INCENTIVE PLAN

 PHANTOM UNIT GRANT AGREEMENT 
 THIS AGREEMENT, made as of this      day of
                                    , 2012 (the “Date of
Grant”) by and between                                 , (the
“Grantee”) and ATLAS RESOURCE PARTNERS, L.P. (together with its successors and assigns hereinafter referred to as the “Partnership”). 
 WHEREAS, the Partnership’s 2012 Long-Term Incentive Plan (the “Plan”) provides for the grant of phantom units in accordance with the terms and conditions of the Plan; and 

WHEREAS, the Committee has determined that it would be in the best interest of the Partnership to grant the phantom units
described herein on the terms and conditions hereinafter set forth; and 
 WHEREAS, capitalized terms used herein and not
otherwise defined herein shall have the respective meanings ascribed thereto in the Plan. 
 NOW, THEREFORE, the parties
hereto, intending to be legally bound hereby, agree as follows: 
 1.       Grant of Phantom
Units. 
 Subject to the terms and conditions set forth in this Agreement and the Plan, the Partnership hereby grants
the Grantee                      phantom units, subject to the restrictions set forth below and in the Plan (the “Phantom Units”).

 2.       Phantom Unit Account. 

Phantom Units represent hypothetical common units of the Partnership (“Units”), and not actual Units. The Partnership shall
establish and maintain a Phantom Unit account, as a bookkeeping account on its records, for the Grantee and shall record in such account the number of Phantom Units granted to the Grantee. No Units shall be issued to the Grantee at the time the
grant is made, and the Grantee shall not be, nor have any of the rights or privileges of, a unitholder of the Partnership with respect to any Phantom Units recorded in the account. The Grantee shall not have any interest in any fund or specific
assets of the Partnership by reason of this grant or the Phantom Unit account established for the Grantee. 

 3.       Vesting. 

The Phantom Units shall be subject to forfeiture until the Phantom Units vest. The Phantom Units shall become vested according to the
following schedule, if the Grantee continues to be employed by, or provide service to Atlas Resource Partners GP, LLC, the Partnership or one of their Affiliates (collectively, “Atlas”) on the applicable vesting date: 

 

						
	 Vesting Date
	  	Vested Phantom units
		
	 [First anniversary of the Date of Grant
	  	 	 	___	%
	 Second anniversary of the Date of Grant
	  	 	 	___	%
	 Third anniversary of the Date of Grant
	  	 	 	___	%
	 Fourth anniversary of the Date of Grant
	  	 	 	___	%]

 The vesting of the Phantom Units shall be cumulative, but shall not exceed 100% of the Phantom Units. 

4.     Termination of Phantom Units. 

(a)       Except as provided below, upon the Grantee’s termination of employment with
Atlas (“Termination of Employment”) or termination of service (“Termination of Service”) to Atlas for any reason before all of the Phantom Units vest, any unvested Phantom Units shall automatically terminate and shall be
forfeited as of the date of the Grantee’s Termination of Employment. No issuance of Units shall be made with respect to any unvested Phantom Units that terminate as described in this Section 4. 

(b)       Upon the Grantee’s Termination of Employment or Termination of Service by
reason of death, any unvested Phantom units shall immediately vest. 
 (c)
      Upon the Grantee’s Termination of Employment or Termination of Service by reason of Disability, the unvested Phantom units shall immediately vest. 

5.       Payment of Phantom Units. 

(a)       If and when the Phantom Units vest, the Partnership shall issue to the Grantee
one Unit for each vested Phantom Unit, subject to the Grantee’s payment of withholding taxes, to the extent required, as described below. Issuance of Units shall be made within 30 days after the vesting date, subject to the Grantee’s
payment of withholding taxes, to the extent required, as described below. 
 (b)
      All distributions under this Agreement may be subject to applicable federal (including FICA), state and local tax withholding, in accordance with Section 8(b) of the Plan. Unless the Committee determines
otherwise, the Grantee or other person entitled to payment under this Agreement shall be required to pay to Atlas the amount of any taxes that Atlas is required to withhold with respect to the Phantom Units. Atlas may also deduct from any
compensation or other amounts owing to the Grantee, including by payroll deduction or withholding of Units, the amount of any applicable taxes with 

  
 2 

 
respect to the Phantom Units. If the Committee determines that Units may be used to satisfy tax withholding, such Units shall be valued based on their Fair Market Value at the time the tax
withholding is required to be made; provided, however, that not more than the legally required minimum tax withholding amount may be settled by Unit withholding. If Atlas fails to pay any required tax withholding amount in the manner
specified by Atlas or its agent when the Phantom Units become taxable, after receiving written notice from Atlas or its agent, Atlas is authorized to cancel such Phantom Units, in which case the Phantom Units shall be forfeited and shall not be paid
to the Grantee. 
 (c)      The obligation of the Partnership to deliver Units
shall also be subject to the condition that if at any time the Committee shall determine in its discretion that the listing, registration or qualification of the Units upon any securities exchange or under any state or federal law, or the consent or
approval of any governmental regulatory body is necessary or desirable as a condition of, or in connection with, the issue of Units, the Units may not be issued in whole or in part unless such listing, registration, qualification, consent or
approval shall have been effected or obtained free of any conditions not acceptable to the Committee. The issuance of Units to Grantee pursuant to this Agreement is subject to any applicable taxes and other laws or regulations of the United States
or of any state having jurisdiction thereof. 
 6.      Distribution Equivalent Rights with
respect to Phantom Units.  
 Until such time as the Phantom Units are paid or forfeited, if a distribution is paid by
the Partnership on its Units, the Partnership shall pay to the Grantee, in cash, the amount of the corresponding Distribution Equivalent attributable to the Grantee’s then outstanding Phantom Units. The Distribution Equivalent shall be paid to
the Grantee on the date on which the distribution is paid by the Partnership on Units. 

7.      Change in Control. 

The provisions of the Plan applicable to a Change in Control shall apply to the Phantom Units, and, in the event of a Change in Control,
the Committee may take such actions as it deems appropriate pursuant to the Plan. 

8.      Grant Subject to Plan Provisions. 

This grant is made pursuant to the Plan, the terms of which are incorporated herein by reference, and in all respects shall be
interpreted in accordance with the Plan. The grant and payment of the Phantom Units are subject to interpretations, regulations and determinations concerning the Plan established from time to time by the Committee in accordance with the provisions
of the Plan, including, but not limited to, provisions pertaining to (i) the registration, qualification or listing of the Units, (ii) changes in capitalization of the Partnership and (iii) other requirements of applicable law. The
Committee shall have the authority to interpret and construe the Phantom Units pursuant to the terms of the Plan, and its decisions shall be conclusive as to any questions arising hereunder. 

  
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 9.      Restrictive Covenants. 

If Grantee is subject to an existing or future employment or services agreement with Atlas (an “Agreement”) which addresses the
subject matter of Section 9, then such Agreement shall supersede this Section 9. If Grantee is not subject to an Agreement, then as a condition of this grant, the Grantee agrees as follows: 

(a)      The Grantee agrees, at all times, to hold in strict confidence all Confidential
Information (as defined below) and never, during the course of the Grantee’s employment with Atlas or thereafter, to make any use of such information except as (and then, only to the extent) required to perform the Grantee’s duties. The
restrictions of this paragraph (a) shall not apply to information or data that the Grantee can establish is or has become known to the public generally through no fault of the Grantee or has come into the Grantee’s possession lawfully and
not through the Grantee’s employment or service as the case may be. 

(i)      For purposes of this Agreement, “Confidential Information” means all
commercially sensitive information and data, in whatever format, originated by, or on behalf of, or within the knowledge or possession of, Atlas, or any independent contractor performing services on behalf of Atlas. Without limiting the foregoing,
Confidential Information includes, but is not limited to, information that has been designated as proprietary or confidential; information constituting trade secrets; information that, by the nature of the surrounding circumstances, should be
treated as proprietary or confidential; and information or data conceived, discovered or developed in whole or in part by the Grantee while employed by or providing services to Atlas. 

(ii)      The Grantee acknowledges that the Grantee’s relationship with Atlas is one
of confidence and trust such that the Grantee has in the past been, and may in the future be, privy to Confidential Information of Atlas. 
 (b)      The Grantee agrees that during the Grantee’s employment or provision of services with Atlas and for a period of 12 months following termination of the
Grantee’s employment with or provision of services to Atlas, regardless of the reason for such termination: 
 (i)      The Grantee will not, directly or indirectly, solicit, or attempt to solicit, for employment, with the Grantee or with any other person or entity, any employee,
consultant, and/or other independent contractor of Atlas, nor will the Grantee, directly or indirectly, solicit or induce, or attempt to solicit or induce, any such individual to leave his or her employment with Atlas or to terminate his or her
agreement to provide services to Atlas. 
 (ii)     The Grantee will not, directly or
indirectly, solicit, or attempt to solicit, any lease or other interest in oil and gas or real property benefitting oil and gas operations for the Grantee, or for any other person or entity, from any lessor and/or transferor of oil and gas rights
(or holder of any right of way) or prospective lessor and/or 

  
 4 

 
transferor of such rights of Atlas with which/whom the Grantee had contact within the 12 months prior to the termination of the Grantee’s employment with Atlas or concerning which the
Grantee had access to Confidential Information, during and by virtue of the Grantee’s employment or service with Atlas. 
 (c)      The Grantee acknowledges and agrees that the restrictions contained in this Section 9 are reasonable and necessary to protect the legitimate business interests
of Atlas and that the Partnership would not have entered into this Agreement in the absence of such restrictions. 
 (d)      The Grantee acknowledges and agrees that any breach by the Grantee of any of the covenants or agreements contained in this Section 9 will result in irreparable
injury to Atlas, for which Atlas may be entitled to any remedy at law or equity, including specific performance of the Grantee’s obligations under this Section 9, as well as injunctive relief without the posting of any bond, such as may be
granted by a court with competent jurisdiction. 
 (e)      In addition to the
foregoing remedies, the Grantee agrees that in the event the Grantee breaches any of the covenants or agreements contained in this Section 9: 
 (i)      The Committee may determine that the Grantee’s unvested Phantom Units shall be cancelled and forfeited without payment by the Partnership, and 

(ii)     The Committee may require that the Grantee return to the Partnership any vested Units
paid to the Grantee (or the Fair Market Value of such Units) pursuant to this Agreement at such date and on such terms and conditions as the Committee deems appropriate. Atlas shall exercise the right of recoupment provided in this
Section 9(e)(ii) within two years after the Grantee’s breach of any of the covenants or agreements contained in this Section 9, and the Partnership shall be entitled to set off against the amount of any such gain any amounts owed to
the Participant by Atlas. 
 (f)      If any provision of this Section 9 or
the application hereof is determined by any court with competent jurisdiction to be invalid or unenforceable, the other portions of this Section 9 or the application thereof shall not be affected and shall be given full force and effect without
regard to the invalid or unenforceable portions to the fullest extent possible. If any court of competent jurisdiction determines that any provision of this Section 9 is unenforceable, then the Grantee agrees to the reformation of any such
covenant or agreement by the court to limits that the courts finds to be enforceable. 

(g)      The provisions of this Section 9 shall survive the termination of this
Agreement and termination of the Grantee’s employment with or the provision of services to Atlas, as the case may be. 

  
 5 

 10.      Adjustment of and Changes in Units of the
Partnership. 
 In the event that any transaction or event affects the Units such that an adjustment is necessary in
order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan, the Committee or the Board shall make such adjustment to this grant of Phantom Units as is provided for in Section 4(a)
of the Plan. 
 11.       No Employment or Other Rights. 

The grant shall not confer upon the Grantee any right to be retained by or in the employ or service of Atlas and shall not interfere in
any way with the right of Atlas to terminate the Grantee’s employment or service at any time. The right of Atlas to terminate at will the Grantee’s employment or service pursuant to or in the absence of a contract at any time for any
reason is specifically reserved. 
 12.       No Unitholder Rights. 

Neither the Grantee, nor any person entitled to receive payment in the event of the Grantee’s death, shall have any of the rights
and privileges of a Unitholder the Units have vested and have been issued to Grantee. 

13.      Assignment and Transfers. 

Except as the Committee may otherwise permit pursuant to the Plan, the rights and interests of the Grantee under this Agreement may not
be sold, assigned, encumbered or otherwise transferred except, in the event of the death of the Grantee, by will or by the laws of descent and distribution. In the event of any attempt by the Grantee to alienate, assign, pledge, hypothecate, or
otherwise dispose of the Phantom Units or any right hereunder, except as provided for in this Agreement, or in the event of the levy or any attachment, execution or similar process upon the rights or interests hereby conferred, the Partnership may
terminate the Phantom Units by notice to the Grantee, and the Phantom Units and all rights hereunder shall thereupon become null and void. The rights and protections of Atlas hereunder shall extend to any successors or assigns of Atlas. This
Agreement may be assigned to a third party by the Atlas without the Grantee’s consent. 

14.      Applicable Policies. 

The grant made pursuant to this Agreement shall be subject to any applicable clawback and other policies established by the Board from
time to time. 
 15.      Applicable Law. 

The validity, construction, interpretation and effect of this Agreement shall be governed by and construed in accordance with the laws of
the State of Delaware, without giving effect to the conflicts of laws provisions thereof, except that Section 9 shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania, without giving effect to the
conflicts of laws provisions thereof. 

  
 6 

 16.       Section 409A. 

This Agreement is intended to comply with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), or
an exemption, and payments may only be made under this Agreement upon an event and in a manner permitted by Section 409A of the Code, to the extent applicable. To the maximum extent permitted under Section 409A of the Code, the benefits
provided under this Agreement are intended to be subject to a “substantial risk of forfeiture” under Section 409A of the Code, and will be paid within the “short term deferral period” following the lapse of the applicable
forfeiture conditions. In no event may the Grantee, directly or indirectly, designate the calendar year of a payment. Notwithstanding anything in this Agreement to the contrary, if required by Section 409A of the Code, if the Grantee is
considered a “specified employee” for purposes of Section 409A of the Code and if payment of any amounts under this Agreement is required to be delayed for a period of six months after separation from service pursuant to
Section 409A of the Code, payment of such amounts shall be delayed as required by Section 409A of the Code, and the accumulated amounts shall be paid in a lump sum payment within ten days after the end of the six-month postponement period.
If the Grantee dies during the six-month postponement period prior to the payment of benefits, the amounts withheld on account of Section 409A of the Code shall be paid to the personal representative of the Grantee’s estate within 60 days
after the date of the Grantee’s death. 
 17.      Amendment. 

This Agreement may be amended by the Board or the Committee at any time, subject to the provisions of Section 7(b) of the Plan.
Notwithstanding anything herein to the contrary, to the extent that Grantee is subject to an Agreement which is inconsistent herewith, such Agreement shall prevail as long as it does not violate the Plan. 

18.      Notice. 
 Any notice to the Partnership provided for in this Agreement shall be addressed to the Partnership in care of its Chief Legal Officer at its executive offices at 1845 Walnut Street, 10th Floor, Philadelphia, Pennsylvania 19103 or at such other address as
to which the Partnership shall have notified Grantee in writing, and any notice to the Grantee shall be addressed to such Grantee at the current address shown on the payroll of Atlas, or to such other address as the Grantee may designate to Atlas.
Any notice shall be delivered by hand or by a recognized courier service such as FedEx or UPS, sent by telecopy or enclosed in a properly sealed envelope addressed as stated above, registered and deposited, postage prepaid, in a post office
regularly maintained by the United States Postal Service. 
 [SIGNATURES CONTAINED ON FOLLOWING PAGE] 

  
 7 

 IN WITNESS WHEREOF, this Phantom Unit Grant Agreement has been duly executed as of
the Date of Grant. 
  

					
	 ATLAS RESOURCE PARTNERS, L.P.
  

By: Atlas Resource Partners GP, LLC, its general partner

			
	By:	 	 	 	
		 	Lisa Washington, Chief Legal Officer	 	

 I hereby accept the award of Phantom Units described in this Agreement, and I agree to be bound by the terms of the
Plan and this Agreement. I hereby agree that all of the decisions and determinations of the Committee or Board with respect to the Phantom Units shall be final and binding. 

 

					
	  
	  	  
	 	
	Date	  	, Grantee            	 	

  
 8

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