Document:

EX-4.12

 Exhibit 4.12 
 CAPITAL TRUST, INC. 
 2007 LONG-TERM INCENTIVE PLAN 

Restricted Share Award Agreement 
 You (the “Participant”), an employee of Capital Trust, Inc. (the “Company”) and CT Investment Management Company, LLC (“CTIMCO”), are hereby awarded
Restricted Shares subject to the terms and conditions set forth in this agreement (the “Award Agreement” or “Award”) and in the Capital Trust, Inc. 2007 Long-Term Incentive Plan (“Plan”). A copy of
the Plan is attached as Exhibit A. A summary of the Plan appears in its Prospectus, which is attached as Exhibit B. You should carefully review these documents, and consult with your personal financial advisor, before
exercising this Award. This Award is conditioned on your execution of this Award Agreement. 
 By executing this
Award Agreement, you agree to be bound by all of the Plan’s terms and conditions as if they had been set out verbatim below. In addition, you recognize and agree that all determinations, interpretations, or other actions respecting the Plan and
this Award Agreement will be made by the Board of Directors (the “Board”) of Capital Trust, Inc. (the “Company”) or any Committee appointed by the Board to administer the Plan, and shall (in the absence of manifest
bad faith or fraud) be final, conclusive and binding on all parties, including you and your successors in interest. Capitalized terms are defined in the Plan or in this Award Agreement. 

 

	1.	 Specific Terms. This portion of your Award is being granted pursuant to Section 8 of the Plan, and shall have the following
terms: 

  

			
	Name of Participant	  	 
		
	 Number of Shares Subject to Award
	  	
		
	 Purchase Price per Share (if applicable)
	  	Not applicable.
		
	 Award Date

 
	  	
	 Vesting
	  	 Your Award will vest with respect to          of the Number of Shares Subject to Award on the
Award Date, and with respect to additional          of such Shares on each of the next                  annual anniversaries of
the Award Date, provided that your Continuous Service has not ended before the particular vesting date; and provided further that you will become 100% vested in this Award if your Continuous Service ends due to your death or your
Disability.

  

			
	 Deferral Elections
	    	Allowed in accordance with Exhibit C hereto (but note that this Award will be made, as of the Award Date, in the form of Restricted Share Units and not Restricted
Shares if you make an election on Exhibit C).

  

	2.	 Accelerated Vesting; Change in Corporate Control. 

 

	 	(a)	 [For named executive officers only: The Participant’s Award will become 100% vested if his or her Continuous Service ends due to his or her:

  

	 	(i)	 termination, at anytime, without Cause by the Company or any or successor thereto, as appropriate; or 

 

	 	(ii)	 voluntary resignation through the following actions: 

 

	 	(1)	 the Participant provides the Company with written notice of the existence of one of the events, arising without the Participant’s consent,
listed in clauses (A) through (C) below within thirty (30) days of the initial existence of such event; 

  

	 	(2)	 the Company fails to cure such event within thirty (30) days following the date such notice is given; and 

 

	 	(3)	 the Participant elects to voluntarily terminate your employment with the Company within the ninety (90) day period immediately following such
event. 

 The events referred to in Section 2(a)(ii) include:
(A) a material reduction in the Participant’s authority, duties, and responsibilities, provided that a mere change in the your title shall not cause the Participant’s rights under this Award to vest, (B) the Participant being
required to relocate the Participant’s place of employment, other than a relocation within fifty (50) miles of the Participant’s principal work site on the date of this Award, or (C) a material reduction in Participant’s
base salary and annual bonus other than any such reduction consistent with a general reduction of pay for similarly-situated Participants.]1 
  

	 	(b)	 To the extent the Participant has not previously vested in his or her rights with respect to this Award, the Participant’s Award will become
100% vested if his or her Continuous Service ends due to an Involuntary Termination that occurs within the one year period following a Change in Control. To the extent following CTIMCO Change in Control (as defined below) the Participant has not
previously vested in his or her rights with respect to this Award, the Participant’s Award will become 100% vested if his or her Continuous Service ends due to an Involuntary Termination that occurs within the one year period following a CTIMCO
Change in Control, substituting the term “Successor” for the term “Company” mutatis 

  

 

	1 	 For named executive officers only. 

  
 2 

 
mutandis for purposes of interpretation of the foregoing defined terms “Continued Service” and “Involuntary Termination.” The term “CTIMCO Change in
Control” shall have the same meaning as the term Change in Control substituting “CTIMCO” (as defined herein) for “Company” mutatis mutandis for purposes of interpretation. 

 

	3.	 Dividends. When Shares are delivered to you or your duly-authorized transferee pursuant to the vesting of the Shares, you or your
duly-authorized transferee shall also be entitled to receive, with respect to each Share delivered, (i) a number of Shares equal to the stock dividends which were declared and paid to the holders of Shares between the Award Date and the date
such Share is issued, and (ii) a number of Shares having a Fair Market Value (on the date of each cash dividend payment date) equal to any cash dividends that were paid to the holders of Shares based on a record date between the Award Date and
date such share is delivered. To the extent that your Continuous Service ends before vesting of the Shares, you will forfeit all dividends (whether paid in cash or in stock) attributable to all such shares. 

 

	4.	 Investment Purposes. By executing this Award, you acknowledge that you are receiving and will be holding your Restricted Shares for
investment purposes only for your own account, and not with a view to, for resale in connection with, or with an intent of participating directly or indirectly in, any distribution of such Shares within the meaning of the Securities Act of 1933, as
amended (the “Securities Act”). 

  

	5.	 Issuance of Restricted Shares. Until all vesting restrictions lapse, any certificates that you receive for Restricted Shares will
include a legend stating that they are subject to the restrictions set forth in the Plan and this Award Agreement. The certificates evidencing such Restricted Shares that will be issued will bear the following legend that shall remain in place and
effective until all other vesting restrictions lapse and new certificates are issued: 

“The sale or other transfer of the Stock represented by this certificate, whether voluntary, involuntary, or by
operation of law, is subject to certain restrictions on transfer set forth in the Capital Trust, Inc. 2007 Long-Term Incentive Plan, and in any rules and administrative procedures adopted pursuant to such Plan and in a related Award Agreement. A
copy of the Plan, such rules and procedures and such Award Agreement may be obtained from the Secretary of Capital Trust, Inc.” 
  

	6.	 Unvested Restricted Shares. The Company will hold all Restricted Shares in escrow until vesting occurs. You will be reflected as the
owner of record on the Company’s books and records of any Shares issued pursuant to this Award Agreement. To the extent the Restricted Shares are issued in certificated form, the Company will hold the stock certificates for safekeeping until
such Shares have become vested and non-forfeitable. You must deliver to the Company, as soon as practicable after the date any Shares are issued, a stock power, endorsed in blank, with respect to any such Shares. If you forfeit any Shares, the stock
power will be used to return the certificates for the forfeited Shares to the transfer agent for cancellation. As the owner of record of any Restricted Shares you qualify to receive pursuant to this Award Agreement, you will be entitled to all
rights of a stockholder of the Company, including the right to vote Shares; subject, however, to the provisions of Section 3 hereof with respect to any cash or stock dividends that are paid between the date of this Award and your receipt of
shares pursuant to a vesting event, subject in each case to the 

  
 3 

	 	 
treatment of the Award upon termination of employment before the particular record date for determining stockholders of record entitled to the payment of the dividend or distribution. To the
extent such a dividend is paid in stock, such stock shall be subject to the same vesting restrictions contained in Section 1. 

  

	7.	 Satisfaction of Vesting Restrictions; Tax Withholding. Unrestricted shares will be issued when you complete the requirements that are
necessary for you to vest in the Restricted Shares underlying this Award. As soon as practicable after the later of (i) the date on which your Award vests in whole or in part or (ii) the distribution date or dates set forth in your
deferral election, the Company will issue to you or your duly-authorized transferee, free from vesting restrictions (but subject to such legends as the Company determines to be appropriate), one Share for each vested Restricted Share with such
number of Shares issued to you being reduced by a number of Shares having a fair market value equal to the minimum statutory tax withholding required in connection with the vesting of your Restricted Shares. Fractional shares will not be issued, and
cash will be paid in lieu thereof. Certificates shall not be delivered to you unless you have made arrangements satisfactory to the Committee to satisfy all applicable employment and tax-withholding obligations. 

 

	8.	 Section 83(b) Election Notice. If you make an election under Section 83(b) of the Internal Revenue Code of 1986, as amended,
with respect to the Shares underlying your Restricted Shares (a “Section 83(b) election”), you agree to provide a copy of such election to the Company within 10 days after filing that election with the Internal Revenue Service.
Exhibit D contains a suggested form of Section 83(b) election. 

  

	9.	 Designation of Death Beneficiary. Notwithstanding anything to the contrary contained herein or in the Plan, following the execution of
this Award Agreement, you may expressly designate a death beneficiary (the “Death Beneficiary”) to your interest, if any, in this Award and any underlying Shares. You shall designate the Death Beneficiary by completing and executing
a designation of death beneficiary agreement substantially in the form attached hereto as Exhibit E (the “Designation of Death Beneficiary”) and delivering an executed copy of the Designation of Death Beneficiary to
the Company. 

  

	10.	 Restrictions on Transfer of Award. If lifetime transfers are allowed under Section 1, your rights under this Award Agreement may
not be sold, pledged, or otherwise transferred without the prior written consent of the Committee. Notwithstanding the foregoing, the Participant may transfer the Restricted Shares that are subject to this Award 

 

	 	(i)	 by instrument to an inter vivos or testamentary trust (or other entity) in which each beneficiary is a permissible gift recipient, as such is set
forth in subsection (ii) of this Section, or 

  

	 	(ii)	 by gift to charitable institutions or by gift or transfer for consideration to any of the following relatives of yours (or to an inter vivos trust,
testamentary trust or other entity primarily for the benefit of the following relatives of yours): any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, domestic partner, sibling, niece, nephew, mother-in-law,
father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, and shall include adoptive relationships. 

  
 4 

 Any transferee of the Participant’s rights shall succeed and be subject
to all of the terms of this Award Agreement and the Plan. 
  

	11.	 Conditions on Issuance of Shares; Transfer Restrictions. Notwithstanding any other provision of the Plan or of this Award Agreement:
(i) the Committee may condition your receipt of Shares on your execution of a shareholder agreement imposing terms generally applicable to other similarly-situated employee-shareholders; and (ii) any Shares issued pursuant to this Award
Agreement shall be non-transferable except in accordance with Section 10 above, until the first day of the seventh month following the termination of your Continuous Service. 

 

	12.	 Taxes. Except to the extent otherwise specifically provided in another document establishing contractual rights for you, by signing
this Award Agreement, you acknowledge that you shall be solely responsible for the satisfaction of any taxes that may arise pursuant to this Award (including taxes arising under Sections 409A or 4999 of the Code), and that neither the Company nor
the Administrator shall have any obligation whatsoever to pay such taxes or otherwise indemnify or hold you harmless from any or all of such taxes. The Committee shall have the sole discretion to interpret the requirements of the Code, including
Section 409A, for purposes of the Plan and this Award Agreement. 

  

	13.	 Notices. Any notice or communication required or permitted by any provision of this Award Agreement to be given to you shall be in
writing and shall be delivered: (i) electronically, (ii) personally, (iii) by certified mail, return receipt requested, or (iv) by an internationally recognized overnight courier (e.g., FedEx). In the case of delivery pursuant to
clauses (i), (iii) and (iv) of the immediately preceding sentence, addressed to as follows: 

  

	 	(a)	 if to you, at the last address that the Company had for you on its records; 

 

	 	(b)	 if to the Company, to Capital Trust, Inc., 410 Park Avenue, 14th Floor, New York, NY 10022, attention: Chief Financial Officer.

 Any such notice shall be deemed to be given as of the date such notice (i) is
delivered personally, (ii) is delivered electronically (if a business day and, if not a business day, on the next business day), (iii) on the second business day following the date sent by internationally recognized overnight courier and
(iv) on the fourth business day after deposited in the mail if sent by certified mail. Each party may, from time to time, by notice to the other party hereto, specify a new address for delivery of notices relating to this Award Agreement.

  

	14.	 Binding Effect. Except as otherwise provided in this Award Agreement or in the Plan, every covenant, term, and provision of this Award
Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective legatees, legal representatives, successors, transferees, and assigns. 

 

	15.	 Modifications. This Award Agreement may be modified or amended at any time, in accordance with Section 15 of the Plan and
provided that you must consent in writing to any modification that adversely and materially affects any rights or obligations under this Award Agreement (with such an affect being presumed to arise from a modification that would trigger a violation
of Section 409A of the Code). 

  
 5 

	16.	 Headings. Section and other headings contained in this Award Agreement are for reference purposes only and are not intended to
describe, interpret, define or limit the scope or intent of this Award Agreement or any provision hereof. 

  

	17.	 Severability. Every provision of this Award Agreement and of the Plan is intended to be severable. If any term hereof is illegal or
invalid for any reason, such illegality or invalidity shall not affect the validity or legality of the remaining terms of this Award Agreement. 

  

	18.	 Counterparts. This Award Agreement may be executed by the parties hereto in separate counterparts, each of which when so executed and
delivered shall be an original, but all such counterparts shall together constitute one and the same instrument. 

  

	19.	 Plan Governs. By signing this Award Agreement, you acknowledge that you have received a copy of the Plan and that your Award Agreement
is subject to all the provisions contained in the Plan, the provisions of which are made a part of this Award Agreement and your Award is subject to all interpretations, amendments, rules and regulations which from time to time may be promulgated
and adopted pursuant to the Plan. In the event of a conflict between the provisions of this Award Agreement and those of the Plan, the provisions of the Plan shall control. 

 

	20.	 Investment Purposes. By executing this Award Agreement, you represent and warrant that any Shares issued to you pursuant to your Award
will be held for investment purposes only for your own account, and not with a view to, for resale in connection with, or with an intent in participating directly or indirectly in, any distribution of such Shares within the meaning of the Securities
Act. 

  

	21.	 Not a Contract of Employment. By executing this Award Agreement you acknowledge and agree that (i) any person who is terminated
before full vesting of an award, such as the one granted to you by this Award, could claim that he or she was terminated to preclude vesting; (ii) you promise never to make such a claim; (iii) nothing in this Award Agreement or the Plan
confers on you any right to continue an employment, service or consulting relationship with the Company, nor shall it affect in any way your right or the Company’s right to terminate your employment, service, or consulting relationship at any
time, with or without Cause; and (iv) the Company would not have granted this Award to you but for these acknowledgements and agreements. 

  

	22.	 Securities Law Restrictions. Regardless of whether the offering and sale of Shares under the Plan have been registered under the
Securities Act, or have been registered or qualified under the securities laws of any state, the Company at its discretion may impose restrictions upon the sale, pledge or other transfer of such Shares (including the placement of appropriate legends
on stock certificates or the imposition of stop-transfer instructions) if, in the judgment of the Company, such restrictions are necessary or desirable in order to achieve compliance with the Securities Act or the securities laws of any state or any
other law or to enforce the intent of this Award. 

  

	23.	 Successors; Assignment. This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors
and assigns. Except as permitted in the Plan, the Participant shall not assign this Agreement without the prior written consent of the Company. Any purported assignment in violation of this Agreement shall be void. 

  
 6 

	24.	 Governing Law. The laws of the State of New York shall govern the validity of this Award Agreement, the construction of its terms, and
the interpretation of the rights and duties of the parties hereto. 

 [Signature page follows] 

  
 7 

 BY YOUR SIGNATURE BELOW, along with the signature of the Company’s
representative, you and the Company agree that the Restricted Shares are awarded under and governed by the terms and conditions of this Award Agreement and the Plan. 
  

							
		 		 	CAPITAL TRUST, INC.
				
		 		 	By:	 	  

		 		 		 	Name:
		 		 		 	Title:
		 		 		 	
		 		 	PARTICIPANT
		 		 		 	
		 		 	The undersigned Participant hereby accepts the terms of this Award Agreement and the Plan.h8
		 		 		 	
		 		 	By:	 	  

			
		 		 	 Name of Participant:

  
 8 

 EXHIBIT A 
 CAPITAL TRUST, INC. 
 2007 LONG-TERM INCENTIVE PLAN 

Plan Document 

  
 9 

 EXHIBIT B 
 CAPITAL TRUST, INC. 
 2007 LONG-TERM INCENTIVE PLAN 

Plan Prospectus 

  
 10 

 EXHIBIT C 
 CAPITAL TRUST, INC. 
 2007 LONG-TERM INCENTIVE PLAN 

Deferral Election Form 
 Note that, due to regulations under Section 409A of the Internal Revenue Code of 1986, your deferral election will be invalid and ineffective to the extent it relates to Shares that would otherwise
be issued to you upon vesting of this Award within one year after its Award Date. 

  
 11 

 CAPITAL TRUST, INC. 

2007 LONG-TERM INCENTIVE PLAN 
 Deferral Election Agreement for Select Plan Awards 

DEFERRAL AGREEMENT (the “Deferral Agreement”), made this
            day of             , 2011, by and between you (the undersigned), and Capital Trust, Inc. (the “Company”).
Capitalized terms are defined in the Capital Trust, Inc. 2007 Long-Term Incentive Plan (“Plan”) and the Award Agreement (the “Award Agreement”) to which this Deferral Agreement was attached as Exhibit C, with this
Deferral Agreement controlling in the event of any inconsistency or ambiguity. 
 WHEREAS, the Company
has established and maintains the Plan, which you have received along with a copy of the Plan Prospectus, as Exhibits A and B of the Award Agreement; 

WHEREAS, pursuant to Sections 8(g) and 10(e) of the Plan, the Committee has authorized a deferred compensation
program pursuant to which you may elect on this form to defer the receipt of Shares subject to the Award specified in Section 1 below; 
 NOW, THEREFORE, it is mutually agreed as follows: 
 1.
Compensation being Deferred. You make the following election to receive Deferred Share Units (“DSUs”) in lieu of the Shares that would otherwise be issued to you upon vesting, more than one year after the Award Date specified
in the Award Agreement, of the following awards (“Awards”), and hereby surrender and cancel all rights relating to both such Awards that would have vested after 2007 and the Shares subject hereto: 

 

			
	 Plan
	    	 Awards Deferred

	 2007 Plan
	    	
 ̈       The
Restricted Share Units awarded to me pursuant to the Award Agreement.
  

 ̈       
Other:                                .

 Notwithstanding this deferral election, whenever the Company pays cash dividends to its
shareholders, you elect with respect to any DSUs credited pursuant to this Agreement – 
  

	 	 ̈	 to receive an immediate cash payment equal to the product of the DSUs then credited to your Account and the per Share dividend, or

  

	 	 ̈	 to receive additional DSU credits having a Fair Market Value equal to the cash that you would have received if you had so elected above.

 2. Crediting, Vesting, and Distribution of Deferred Compensation. With
respect to the Awards being deferred pursuant to our election in Section 1 above, the Company agrees to make DSU credits in accordance with Section 9 of the Plan (subject to Section 1 above regarding the

  
 12 

 
immediate payout of dividend equivalents) and to follow your elections herein when distributing the Shares credited to your Account. By the execution hereof, you elect to have your Account
distributed to you in whole Shares (with one Share paid for each DSU and with cash being paid in lieu of fractional Shares), upon the earliest of the events checked below: 

 

					
	 Event
	  	 Form of Distribution
	  	 Time of Distribution

			
	 ü Death
	  	
 ̈       One
lump sum distribution.
  
  ̈       Substantially equal annual payments over a period of          years (up
to 10).
	  	  ̈       As
soon as practicable.
  
  ̈       The next January 1st.
  
  ̈       Other:                  
          .

			
	 ü Disability
	  	  ̈       One
lump sum distribution.
  
  ̈       Substantially equal annual payments over a period of          years (up
to 10).
	  	  ̈       As
soon as practicable.
  
  ̈       The next January 1st.
  
  ̈       Other:                  
          .

			
	 üOther Separation from Service
	  	
 ̈       One
lump sum distribution.
  
  ̈       Substantially equal annual payments over a period of          years (up
to 10).
	  	  ̈       As
soon as practicable.
  
  ̈       The next January 1st.
  
  ̈       Other:                  
          .

			
	 ü Change in Control
	  	
 ̈       One
lump sum distribution.
  
  ̈       Substantially equal annual payments over a period of          years (up
to 10).
	  	  ̈       As
soon as practicable.
  
  ̈       The next January 1st.
  
  ̈       Other:                  
          .

			
	 ü Specified Date
	  	
 ̈       One
lump sum distribution.
  
  ̈       Substantially equal annual payments over a period of          years (up
to 10).
	  	 Date:
                            ,         .

 
 (Must be 2016 or later for elections in 2011)

 3. Taxes. Except to the extent otherwise specifically provided in another
document establishing contractual rights for you, you acknowledge that, by signing this Deferral Agreement, you shall be solely responsible for the satisfaction of any taxes that may arise pursuant to this Award (including taxes arising under
Sections 409A or 4999 of the Code), and that neither the Company, the Committee, nor any administrator of the Plan shall have any obligation whatsoever to pay such taxes or otherwise indemnify or hold you harmless from any or all of such taxes. The
Committee shall nevertheless have the discretion – 
  

	 	(a)	 to condition any issuance of Shares on your satisfaction of applicable employment and withholding taxes; and 

 

	 	(b)	 to unilaterally interpret this Deferral Agreement and the Plan in any manner that (i) conforms with the requirements of Section 409A of
the Code, (ii) that voids any election of yours to the extent it would violate Section 409A of the Code, and (iii) for any distribution election that would or could violate Section 409A of the Code, that

  
 13 

	 	 
defers distributions pursuant to the Award until the earliest to occur of a distribution event that is allowable under Section 409A of the Code or any distribution event that is both
allowable under Section 409A of the Code and is elected by you, subject to any valid second election to defer, that the Committee permits in accordance with Section 409A(a)(4)(C). 

The Committee shall have the sole discretion to interpret the requirements of the Code, including Section 409A, for
purposes of the Plan and this Deferral Agreement. 
 4. Incorporation by Reference. The provisions
set forth in Sections 9 through 23 of the Award Agreement are hereby incorporated by reference into this Deferral Agreement, subject to the sole and absolute discretion of the Committee to interpret and to apply such provisions in the context of
this Deferral Agreement. 
 BY YOUR SIGNATURE BELOW, along with the signature of the Company’s
representative, you and the Company agree that, effective on the date on which both parties below have executed this Deferral Agreement, this Deferral Agreement is being made under and governed by the terms and conditions of this agreement and the
Plan, and that all Awards specified in Section 1 above shall become completely null and void upon crediting to you of DSUs pursuant to Section 9 of the Plan and the terms of this Deferral Agreement. 

 

							
	Date:             , 2011	 	CAPITAL TRUST, INC.
			
		 	 By:
	 	  

		 		 		 	
		 	 Printed Name:
	 	  

		 		 		 	
		 	 Title:
	 	  

  

							
	Date:             , 2011	 	PARTICIPANT
			
		 	 By:
	 	  

		 		 		 	
		 	 Printed Name:
	 	  

		 		 		 	
		 	 Title:
	 	  

  
 14 

 EXHIBIT D 
 CAPITAL TRUST, INC. 
 2007 LONG-TERM INCENTIVE PLAN 

Section 83(b) Election Form 
 Attached is an Internal Revenue Code Section 83(b) Election Form. IF YOU WISH TO MAKE A SECTION 83(B) ELECTION, YOU MUST DO SO WITHIN 30 DAYS AFTER THE DATE THE RESTRICTED SHARES COVERED BY THE
ELECTION WERE TRANSFERRED TO YOU. In order to make the election, you must completely fill out the attached form and file one copy with the Internal Revenue Service office where you file your tax return. In addition, one copy of the statement
also must be submitted with your income tax return for the taxable year in which you make this election. Finally, you also must submit a copy of the election form to the Company within 10 days after filing that election with the Internal Revenue
Service. A Section 83(b) election normally cannot be revoked. 

  
 15 

 CAPITAL TRUST, INC. 

2007 LONG-TERM INCENTIVE PLAN 
 Election to Include Value of Restricted Shares in Gross Income 
 in Year
of Transfer Under Internal Revenue Code Section 83(b) 
 Pursuant to Section 83(b) of the Internal
Revenue Code, I hereby elect within 30 days after receiving the property described herein to be taxed immediately on its value specified in item 5 below. 
  

	1.	 My General Information: 

  

					
		 	Name:	 	  

		 	Address:	 	  

		 		 	  

		 	S.S.N.	 	
		 	or T.I.N.:	 	  

  

	2.	 Description of the property with respect to which I am making this election: 

            shares of common stock of Capital
Trust, Inc. (the “Restricted Shares”). 
  

	3.	 The Restricted Shares were transferred to me on             , 20__. This election
relates to the 2011 calendar taxable year. 

  

	4.	 The Restricted Shares are subject to the following restrictions: 

The Restricted Shares are forfeitable until they are earned in accordance with Section 1 of the Capital Trust, Inc.
2007 Long-Term Incentive Plan (“Plan”) Restricted Share Award Agreement (“Award Agreement”) or other Award Agreement or Plan provisions. The Restricted Shares generally are not transferable until my interest becomes
vested and non-forfeitable, pursuant to the Award Agreement and the Plan. 
  

	5.	 Fair market value: 

 The fair market value at the time of transfer (determined without regard to any restrictions other than restrictions which by their terms never will lapse) of the Restricted Shares with respect to which I
am making this election is $            per share. 
  

	6.	 Amount paid for Restricted Shares: 

 The amount I paid for the Restricted Shares is $0.00 per share. 

  
 16 

	7.	 Furnishing statement to employer: 

 A copy of this statement has been furnished to my employer, Capital Trust, Inc. 
  

	8.	 Award Agreement or Plan not affected: 

 Nothing contained herein shall be held to change any of the terms or conditions of the Award Agreement or the Plan. 
 Dated:             , 2011. 
  

			
		    	  

		    	Taxpayer

  
 17 

 EXHIBIT E 
 CAPITAL TRUST, INC. 
 2007 LONG-TERM INCENTIVE PLAN 

Designation of Death Beneficiary 
 In connection with the Awards designated below that I have received pursuant to the Plan, I hereby designate the person specified below as the death beneficiary upon my death of my interest in Awards as
defined in the Company’s 2007 Long-Term Incentive Plan (the “Plan”). This designation shall remain in effect until revoked in writing by me. 
  

			September 30,		September 30,		September 30,		September 30,
		    		 	Name of Death Beneficiary:	 	  
	    	
		    		 		 		    	
		    		 	Address:	 	  
	    	
		    		 		 		    	
		    		 		 	  
	    	
		    		 		 		    	
		    		 		 	  
	    	
		    		 		 		    	
		    		 	Social Security No.:	 	  
	    	

 This death beneficiary designation relates to any and all of my rights under the
following Award or Awards: 
  

	 	 ̈	 any Award that I have received or ever receive under the Plan. 

 

	 	 ̈	 the             Award that I received pursuant to an award agreement dated
            ,             between myself and the Company. 

I understand that this designation operates to entitle the above named death beneficiary, in the event of my death, to
any and all of my rights under the Award(s) designated above from the date this form is delivered to the Company until such date as this designation is revoked in writing by me, including by delivery to the Company of a written designation of
beneficiary executed by me on a later date. In the absence of a valid death beneficiary designation, my estate will be treated as the beneficiary of this Award in the event of my death while it is outstanding. 

 

							
		 		 	Date:	 	  

		 		 	By:	 	  

		 		 		 	Name of Participant

 Sworn to before me this 
             day of             ,
2011             
 Notary Public 

  
 18Amended and Restated Limited Liability Company Agreement

 Exhibit 10.2 
 AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT 
 of 

ATLAS PIPELINE PARTNERS GP, LLC 
 This LIMITED LIABILITY COMPANY AGREEMENT (this “Agreement”) executed as of September 24, 2003, by and among those persons signatory hereto, as the same may be amended from time to
time (such persons being herein sometimes called collectively, the “Members,” and individually, a “Member”). 
 W I T N E S S E T H: 
 WHEREAS, the Members (i) have caused Atlas
Pipeline Partners GP, LLC (the “Company”) to be formed as a limited liability company under the Delaware Limited Liability Company Act (the “Act”) by filing a Certificate of Formation (the
“Certificate”) in the office of the Secretary of State of Delaware (the “Secretary of State”); and (ii) previously adopted a limited liability company agreement as contemplated by the Act on November 18,
1999; and 
 WHEREAS, the Members desire to define the respective rights and obligations of the Members and make provisions for
the operation of the Company pursuant to the terms and conditions of this Agreement. 
 NOW, THEREFORE, in consideration of the
foregoing premises, the mutual promises and covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

ARTICLE 1. DEFINITIONS 
 Section 1.1. Terms Defined Herein. As used herein, the following terms shall have the following meanings, unless the context otherwise specifies: 

“Accounting Period” has the meaning set forth in Section 10.1 hereof. 

“Act” means the Delaware Limited Liability Company Act, as it may be amended from time to time. 

“Affiliate” means, when used with reference to a specified Person, any Person directly or indirectly controlling,
controlled by or under common control with the specified Person. 
 “Agreement” means this Limited Liability
Company Agreement, as amended from time to time. 
 “Bankruptcy” means the initiation of any proceeding,
whether voluntary or involuntary, under the federal bankruptcy laws or any state or local bankruptcy or insolvency act, including without 

 
limitation an assignment for the benefit of creditors, if (as to any involuntary proceeding) not dismissed within ninety (90 days). 

“Board Member” means a member of the Managing Board. 

“Capital Account” has the meaning set forth in Section 9.4 hereof. 

“Capital Contribution” with respect to a Member, means the total amount of cash and the fair market value of property
being contributed by such Member to the capital of the Company pursuant to Article 4 hereof. 
 “Certificate”
means the Company’s Certificate of Formation filed with the Secretary of State pursuant to the Act, as such Certificate may be amended or restated from time to time. 
 “Code” means the Internal Revenue Code of 1986, as amended from time to time, or corresponding provisions of future laws. 

“Company” means Atlas Pipeline Partners GP, LLC. 

“Distribution Support Agreement” means the Distribution Support Agreement to be entered into by the Partnership and the
Company. 
 “Fiscal Year” has the meaning set forth in Section 9.1 hereof. 

“Indemnitee” means each current or former Board Member and current or former officer of the Company who was or is a
party to, or is threatened to be made a party to, or is otherwise involved in, any Proceeding, by reason of the fact that such person is or was a Board Member or officer of the Company or is or was serving in any capacity at the request or for the
benefit of the Company as a director, officer, employee, agent, partner, or fiduciary of, or in any other capacity for, another corporation or any partnership, joint venture, trust, employee benefit plan, or other enterprise. 

“Independent Board Member” means a Board Member who is independent in accordance with the rules of the principal
National Securities Exchange on which common units of the Partnership trade. 
 “Interest” refers to all of a
Member’s rights and interests in the Company in his, her or its capacity as a Member, all as provided in the Certificate and this Agreement, including, without limitation, such Member’s interest in the total capital, Profits and Losses of
the Company. 
 “Liquidation” shall have the meaning set forth in Treasury Regulations 1.704-1(b)(2)(ii)(g) and
any amendatory or successor section of such Regulation. 
 “Liquidation Proceeds” means the proceeds from the
sale or other disposition of any one or more items of Property at the time of Liquidation of the Company and all proceeds resulting therefrom. 
 “Loss” or “Losses” has the meaning set forth in Section 10.1(b) hereof. 
 “Managing Board” means the Managing Board of the Company. 

  
 2 

 “Majority In Interest” means more than fifty percent (50%) of the
Percentage Interests of the Members. 
 “Members” means the Members of the Company. 

“Omnibus Agreement” means the Omnibus Agreement to be entered into by the Partnership, the Operating Partnership, Atlas
America, Inc., Resource Energy, Inc. and Viking Resources Corporation. 
 “Operating Partnership” means Atlas
Pipeline Operating Partnership, L.P., a Delaware limited partnership. 
 “Partnership” means Atlas Pipeline
Partners, L.P., a Delaware limited partnership. 
 “Percentage Interest” means the Interest of a Member in the
Company expressed as a percentage on any given date computed by dividing such Member’s Capital Account balance on such date by the aggregate of all Members’ Capital Account balances as of that date. 

“Person” means any individual, partnership, limited liability company, corporation, cooperative, trust or other entity.

 “Proceeding” means any threatened, pending or completed action, suit or proceeding (including without
limitation an action, suit or proceeding by or in the right of the Company), whether civil, criminal, administrative, investigative or through arbitration. 
 “Profit” or “Profits” has the meaning set forth in Section 10.1(b) hereof. 
 “Profit Allocation” has the meaning set forth in Section 10.2(b) hereof. 
 “Property” means all properties and assets which the Company may own or have an interest in from time to time. 
 “Reserves” means all amounts set aside from time to time by the Managing Board to provide for the business and capital needs and requirements of the Company, including for the payment of
any liability or obligation of the Company, whether known or unknown, liquidated, fixed, contingent or other. 

“Secretary of State” means the Secretary of State of the State of Delaware. 

“Service” means the United States Internal Revenue Service. 

“Substitute Member” means a Person who or which becomes a substitute Member pursuant to the provisions of
Section 5.3 hereof. 
 “Syndication Expenses” means all expenditures of the Company and the Partnership
classified as syndication expenses pursuant to Treasury Regulation 1.709-2(b). Syndication Expenses shall be taken into account at the time they would be taken into account under the partnership method of accounting if they were deductible expenses.

 “Tax Matters Officer” has the meaning set forth in Section 9.5 hereof. 

  
 3 

 “Termination Event” means the death, resignation, withdrawal, removal,
Bankruptcy or dissolution of a Member or the occurrence of any other event which terminates the continued membership of a Member pursuant to the Act. 
 “Treasury Regulations” or “Regulations” means the final and temporary regulations promulgated by the United States Treasury Department pursuant to the Code, as such
regulations are amended and in effect from time to time. 
 Section 1.2. Other Definitional Provisions. 

(a) As used in this Agreement, accounting terms not defined in this Agreement, and accounting terms partly defined to the extent not
fully defined, shall have the respective meanings given to them under generally accepted accounting principles. 
 (b) Words of
the masculine gender shall be deemed to include the feminine or neuter genders, and vice versa, where applicable. Words of the singular number shall be deemed to include the plural number, and vice versa, where applicable. 

Section 1.3. Additional Definitions. In addition to the definitions set forth in this Article 1, certain of the
remaining provisions of this Agreement contain definitions which shall have the meanings ascribed to them in the provisions where each term is first defined. 
 ARTICLE 2. CERTIFICATE OF FORMATION, OFFICES, 
 PURPOSE, TERM AND
DISSOLUTION 
 Section 2.1. Certification of Formation. The Certificate filed with the Secretary of State, and
any amendment thereof or amended or restated Certificate duly filed with the Secretary of State, are deemed incorporated herein by reference and made a part hereof in their entirety, as fully as if they were set forth herein. 

Section 2.2. Registered Office. The registered office of the Company in Delaware shall be 49 Bancroft Mills, Unit P15,
Wilmington. The registered agent for the Company at such office shall be Andrew Lubin, Esquire. Any determination to change the Company’s registered office or registered agent shall be made by the Managing Board. 

Section 2.3. Other Offices. The Company may also have offices at such other places within or without the State of Delaware as
the Managing Board may from time to time determine. 
 Section 2.4. Purpose and Powers. The principal purpose of the
Company is to engage in those activities set forth in the Certificate, to act as the general partner of the Partnership and the Operating Partnership, and to engage in any and all activities related or incidental thereto. In furtherance and not in
limitation of this purpose, the Company shall have the powers to enter into, make and perform all contracts and other undertakings, engage in all activities and transactions as may be necessary or advisable to the carrying out of the foregoing
purposes, including, without limitation: 
 (a) To exercise all rights, powers, privileges and other incidents of ownership or
possession with respect to the assets of the Company; 

  
 4 

 (b) To open, maintain and close bank, brokerage and other accounts, and to draw checks or
other orders for the payment of money; 
 (c) To have and maintain one or more offices and in connection therewith to rent or
acquire office space, engage personnel and do such other acts as may be advisable or necessary in connection with such offices and personnel; 
 (d) To take such actions as general partner of the Partnership and the Operating Partnership as may be necessary and advisable; and 

(e) To take such actions as may be necessary or advisable in connection with the foregoing, including the engagement of agents,
independent contractors, attorneys, accountants, investment counselors, and such other persons as may be necessary or advisable in connection with the foregoing objects and purposes. 

Section 2.5. Term and Dissolution. The Company shall continue in existence in perpetuity, unless earlier dissolved pursuant
to this Agreement. The following provisions shall govern the dissolution of the Company: 
 (a) Upon the Company’s
Bankruptcy, the Company shall be dissolved; 
 (b) Upon a determination by the Managing Board, the Company shall be dissolved;
and 
 (c) The Company shall be dissolved at any time upon the unanimous written consent of the Members. 

The occurrence of a Termination Event of any Member shall not cause the dissolution of the Company. In the event of the occurrence of a
Termination Event with respect to a Member, such Member’s administrators or personal representatives shall have the same rights, and shall be subject to the same obligations, that such Member would have had if such Member had not died or become
bankrupt, insolvent or dissolved. Upon the dissolution of the Company, the Company shall be liquidated in accordance with Article 11 of this Agreement and the Liquidation Proceeds resulting therefrom shall be applied in accordance with such Article.

 Section 2.6. Inclusion Clause. The terms, conditions and provisions governing the management, administration,
rights and responsibilities of the Company and its Members as set forth in the Act are hereby incorporated by reference in their entirety, as fully as if they were set forth herein. However, in the event of an inconsistency between the provisions of
this Agreement and the Act, the provisions of this Agreement shall prevail except that, in the further event any such provisions of this Agreement are prohibited by or invalid under the Act, then the provisions of the Act shall prevail. 

  
 5 

 ARTICLE 3. MEMBERS 

Section 3.1. Place of Meetings. All meetings of Members shall be held at the principal place of business of the Company
unless another place is designated by the Managing Board in the notice of a meeting. 
 Section 3.2. Special
Meetings. Special meetings of the Members may be held for any matters on which the Members are entitled to vote and may be called by the Managing Board or by a Majority In Interest. 

Section 3.3. Use of Conference Telephone and Similar Equipment. Any Member may participate in a meeting by means of
telephonic conference call or similar communications equipment provided that all Members participating in the meeting can hear each other. Participation in a meeting pursuant to this Section shall constitute presence at the meeting. 

Section 3.4. Action by Company. Except as otherwise required under the Act or in this Agreement, whenever any Company action
is to be taken, it shall be taken by the Managing Board and not by any Member. 
 Section 3.5.
Voting Rights of Members; Proxies. Unless otherwise provided in the Certificate, every Member shall be entitled to (a) one vote for each one percent (1%) of Percentage Interest in the Company held by such Member and (b) a
fraction of a vote for each fraction of one percent (1%) of Percentage Interest in the Company held by such Member (e.g., a Member with a one and one-half (1 1/2) Percentage Interest would be entitled to one and one-half (1 1/2) votes). A Member may vote, either in person or
by proxy, executed in writing by the Member or a duly authorized attorney-in-fact. 
 Section 3.6. Voting
by Entities. Any entity that is a Member of the Company may vote by any of its duly authorized officers or agents, or by proxy appointed by any duly authorized officer or agent. 

Section 3.7. Consent of Members in Lieu of Meeting. Any action required or permitted to be taken at a meeting of the Members
may be taken without a meeting if, prior or subsequent to the action, there is a written consent or consents thereto by Members having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at
which all Members entitled to vote thereon were present and voted. 
 Section 3.8. Other Activities. Any Member and
any Board Member, and such Member’s or such Board Member’s Affiliates, may engage in any activities, whether or not related to the Company. Each Member agrees that any Member or Board Member, and any Affiliate of any Member or Board
Member, (a) may engage in or possess an interest, direct or indirect, in any business venture of any nature or description for his, her or its own account, independently or with others (including some but not all Members), including, without
limitation, any business, industry or activity which is competitive with the business of the Company and (b) may do so without any obligation to report the same to the Company or any Member or to afford the Company or any Member any opportunity
to participate therein. Neither the Company nor any Member shall have any right in or to any such independent venture or investment or the revenues or profits derived therefrom. Notwithstanding the foregoing, this Section shall not constitute
authorization of any Independent Board Member to engage in activities which would result in such Independent Board Member not qualifying to be an Independent Board Member. 

  
 6 

 ARTICLE 4. CAPITAL CONTRIBUTIONS 

Section 4.1. Capital Contributions. Each Member shall make a Capital Contribution as set forth opposite such Member’s
name on Schedule A. Except as specifically provided herein, the Members shall have no further obligation to contribute to the capital of the Company. In the event that the Company is required to make a capital contribution to the Partnership
pursuant to the Distribution Support Agreement, the Members shall contribute such further capital to the Company as shall be necessary to enable the Company to make such capital contribution. 

Section 4.2. Withdrawal; Interest. Except as otherwise expressly provided in this Agreement or as otherwise agreed, in
writing, by unanimous consent of the Members, 
 (a) no part of the Capital Contribution of any Member may be withdrawn by such
Member, 
 (b) no Member shall be entitled to receive interest on such Member Capital Contribution. 

It is expressly understood and agreed that no Member shall be individually liable for the return of the capital or any other contributions of the
Members, or any portion thereof, but on the contrary that any such return shall be made solely from assets of the Company. 

Section 4.3. Loans and Services. Loans or services by any Member to the Company shall not be considered Capital Contributions
to the Company. 
 ARTICLE 5. ASSIGNMENTS 
 Section 5.1. Personal Property. An Interest of a Member in the Company is personal property and a Member shall have no interest in specific Company Property. 

Section 5.2. In General. Subject to the restrictions contained in the Omnibus Agreement, a Member may assign an Interest in
the Company, subject to compliance at such Member’s expense with federal and state securities laws and this Section. Any assignment shall be effective as of midnight of the last day of the calendar month in which it is made and no such
assignment shall relieve the assignor of such assignor’s responsibility for any expenses, obligations or liabilities, whether accruing prior or subsequent to the assignment. Unless and until an assignee is admitted to the Company as a
Substitute Member as hereinafter provided, such assignee shall only be entitled to receive distributions from the Company attributable to the assigned interest from and after the effective date thereof; provided that the Managing Board and the
Company shall be entitled to treat the assigning Member as the absolute owner of such assignor’s Interest in the Company and shall incur no liability for distributions made in good faith to such assignor until the effective date of the
assignment and until appropriate documents of assignment have been delivered to the Managing Board and recorded on the Company’s books. 
 Section 5.3. Substitute Members. An assignee of any Interest of a Member in the Company may become a substitute Member (each, a “Substitute Member”) only with the consent of
the Managing Board, which may be arbitrarily withheld, and compliance with this Section. This Agreement may be amended by the Managing Board, without the necessity of the vote or consent of any of the Members, to effect such admission not later than
the last day of the calendar month following receipt of notice of the assignment and such appropriate documentation of the assignment and substitution as the Managing 

  
 7 

 
Board may reasonably require; provided that no such assignee shall become a Substitute Member unless the assignee shall have consented in writing, in form satisfactory to the Managing Board, to
be bound by the terms of this Agreement in the place and stead of the assigning Member. 
 ARTICLE 6. MANAGEMENT OF THE
COMPANY 
 Section 6.1. Designation of Managing Board; Classes of Board Members. Management of the business and
affairs of the Company shall be vested in the Managing Board. The Managing Board shall have the full and exclusive right to manage the business of the Company and is hereby authorized to take all actions necessary or proper with respect thereto. The
number of Board Members which shall constitute the Managing Board shall be seven; provided, however, that such number may be increased or decreased from time to time by resolution adopted by a Majority in Interest of the Members and provided,
further, that so long as the Company serves as the general partner of the Partnership, the Managing Board shall at all times include three Independent Board Members. The Board Members shall be divided into three classes, designated Classes A, B and
C, no one of which shall contain more than one more Board Member than any other. The Board Members shall serve for terms of three years, unless sooner removed, except that, with respect to Board Members serving as of the date hereof, the term of
Board Members in Class A shall expire in January 2004, the term of Board Members in Class B shall expire in January 2005 and the term of Board Members in Class C shall expire in January 2006. The Chairman of the Managing Board shall preside at
all meetings of the Members and the Managing Board. 
 Section 6.2. Selection of Board Members. Board Members shall
be selected by the Members. The candidates receiving the highest number of votes from the Members shall be elected. 

Section 6.3. Removal by Members. The entire Managing Board, or any class of the Managing Board or any individual Board
Member, may be removed from office by vote or consent in writing of a Majority in Interest of the Members. 
 Section 6.4.
Removal by the Managing Board. The Managing Board may declare vacant the office of a Board Member who has been judicially declared of unsound mind or who has been convicted of an offense punishable by imprisonment for a term of more than one
year or for any other proper cause. 
 Section 6.5. RESERVED. 

Section 6.6. Committees. So long as the Company serves as the general partner of the Partnership, the Board shall have the
following committees, the members of which shall be the Independent Board Members: 
 (a) Conflicts Committee. The
Conflicts Committee shall be responsible for determining whether Special Approval (as such term is defined in the Partnership Agreement) shall be given in connection with the resolution of a conflict of interest between the Company and its
Affiliates, on the one hand, and the Partnership, a partner thereof or an assignee of a partner, all as more particularly be set forth in Section 7.10 of the Partnership Agreement. 

(b) Audit Committee. The Audit Committee shall have the power and authority to select the Company’s and the
Partnership’s independent auditors, review the scope and results of all audits and review the adequacy of the Company’s and the Partnership’s accounting, financial and operating controls. 

  
 8 

 The Managing Board may, by resolution adopted by a majority of the Board Members, establish
one or more other committees consisting of one or more Board Members as may be deemed appropriate or desirable by the Managing Board to serve at the pleasure of the Board. Any such committee, to the extent provided in the resolution of the Managing
Board pursuant to which it was created, shall have and may exercise all of the powers and authority of the Managing Board. 

Section 6.7. Meetings. Meetings of the Managing Board, or any committee thereof, shall be held at such times and places
within or without the Commonwealth of Pennsylvania as the Managing Board, or any committee thereof, as appropriate, may from time to time appoint or as may be designated in the notice of the meeting. One or more Board Members may participate in any
meeting of the Managing Board, or of any committee thereof, by means of a conference telephone or similar communications equipment by means of which all persons participating in the meeting can hear one another. Participation in a meeting by such
means shall constitute presence in person at the meeting. 
 Section 6.8. Special Meetings. Special meetings of the
Managing Board may be called by the Chairman on at least one day’s notice to each Board Member, either by telephone or in writing. Special meetings shall be called by the Chairman or Secretary in like manner and on like notice upon the written
request of a majority of the directors in office. 
 Section 6.9. Quorum. At all meetings of the Managing Board a
majority of the Board Members in office shall constitute a quorum for the transaction of business, and the acts of a majority of the Board Members present and voting at a meeting at which a quorum is present shall be the acts of the Managing Board,
except as may be otherwise specifically provided by statute or by this Agreement. At all committee meetings a majority of the committee members in office shall constitute a quorum for the transaction of business, and the acts of a majority of the
committee members present and voting at a meeting at which a quorum is present shall be the acts of the committee, except as may be otherwise specifically provided by statute or by this Agreement. 

Section 6.10. Action by Written Consent. Any action required or permitted to be taken at a meeting of the Managing Board, or
any committee thereof, may be taken without a meeting if, prior or subsequent to the action, a consent or consents thereto signed by all of the Board Members, or all of the committee members, as appropriate, is filed with the Secretary. 

Section 6.11. Compensation. Independent Board Members, as such, may receive a stated salary for their services or a fixed sum
and expenses for attendance at regular and special meetings, or any combination of the foregoing as may be determined from time to time by resolution of the Managing Board. 
 Section 6.12. Actions Requiring Majority In Interest. Notwithstanding anything to the contrary contained herein, the Managing Board shall not, without the prior consent of a Majority In
Interest, (i) sell all or substantially all of the Property of the Company for the purpose of liquidating the Company; (ii) make any amendments to this Agreement not expressly permitted to be made solely by the Managing Board as set forth
in this Agreement; (iii) cause the Company to consolidate, merge or take any similar action; (iv) start any new business of the Company that is outside the scope of Section 2.4 or (v) cause the Company to dissolve or file on
behalf of the Company a voluntary petition in bankruptcy or appointment of a receiver for the Company. 
 Section 6.13.
Authority to Bind Company. Except as authorized in writing by the Managing Board, none of the Members shall have the right or authority to act for or bind the Company. 

  
 9 

 Section 6.14. Admission of Members. The Managing Board may admit one or more new
Members. To accomplish the purpose of this Section, the Managing Board is authorized to do all things necessary to effectuate the admission of any additional Member. Each new Member shall agree in writing to be bound by the terms and provisions
hereof. 

  
 10 

 ARTICLE 7. OFFICERS 

Section 7.1. In General. The Company shall have a President, Secretary and Treasurer, or persons who shall act as such,
regardless of the name or title by which they may be designated, elected or appointed and may have such other officers and assistant officers as the Managing Board may authorize from time to time. It shall not be necessary for the officers to be
Board Members. Any number of offices may be held by the same person. Each officer shall hold office at the pleasure of the Managing Board and until such officer’s successor has been selected and qualified or until such officer’s earlier
death, resignation or removal. Any officer may resign at any time upon written notice to the Company. The resignation shall be effective upon receipt thereof by the Company or at such subsequent time as may be specified in the notice of resignation.
The Company may secure the fidelity of any or all of the officers by bond or otherwise. 
 Section 7.2. Removal. Any
officer or agent of the Company may be removed by the Managing Board with or without cause. The removal shall be without prejudice to the contract rights, if any, of any person so removed. Election or appointment of an officer or agent shall not of
itself create contract rights. If the office of any officer becomes vacant for any reason, the vacancy may be filled by the Managing Board. 
 Section 7.3. President. The President shall have the general responsibility for the management of the business of the Company and shall exercise or perform all the powers and duties usually
incident to the office of President. 
 Section 7.4. Vice President. The Vice President, if any, shall, in the
absence or disability of the President, perform the duties and exercise the powers of the President; and if there be more than one Vice President, their seniority in performing such duties and exercising such powers shall be determined by the
Managing Board, or in default of such determination, by the order in which they were first elected or appointed. Each Vice President also shall have such powers and perform such duties as may be assigned to such Vice President by the Managing Board.

 Section 7.5. Secretary. The Secretary shall attend all sessions of the Managing Board and all meetings of the
Members and act as clerk thereof, and record all the votes and minutes thereof in books to be kept for that purpose; and shall perform like duties for the executive committee or any other committee of the Managing Board when required. The Secretary
shall give, or cause to be given, notice of all meetings of the Members and of the Managing Board. 
 Section 7.6.
Treasurer. The Treasurer may be the chief financial officer and shall cause full and accurate accounts of receipts and disbursements to be kept in books belonging to the Company. The Treasurer shall see to the deposit of all moneys and other
valuable effects in the name and to the credit of the Company in such depositary or depositaries as may be designated by the Managing Board, subject to disbursement or disposition upon orders signed in such manner as the Managing Board shall
prescribe. The Treasurer shall render to the President and to the Managing Board an account of all transactions as Treasurer and the results of operations and financial condition of the Company. Only if required by the Managing Board, the Treasurer
shall give the Company a bond in such sum, and with such surety or sureties as may be satisfactory to the Managing Board for the faithful discharge of the duties of the Treasurer’s office, and for the restoration to the Company, in case of the
Treasurer’s death, resignation, retirement or removal from office, of all books, records, money and other property of whatever kind in the Treasurer’s possession or under the Treasurer’s control belonging to the Company. 

  
 11 

 Section 7.7. Delegation of Officers’ Duties. Any officer may delegate
duties to such officer’s assistant (if any) appointed by the Managing Board; and in case of the absence of any officer or assistant officer of the Company, or for any other reason the Managing Board may deem sufficient. 

ARTICLE 8. LIMITATION OF              BOARD MEMBERS’ LIABILITY

 AND INDEMNIFICATION 
 OF BOARD MEMBERS, OFFICERS AND OTHER PERSONS 
 Section 8.1.
Limitation of Board Members’ Liability. No Board Member shall be personally liable for monetary damages as such for any action taken or any failure to take any action unless: (a) the Board Member has breached or failed to perform
the duties of such Board Member’s office, and (b) the breach or failure to perform constitutes self-dealing, willful misconduct or recklessness; provided, however, that the provisions of this Section shall not apply to the responsibility
or liability of a director pursuant to any criminal statute, or to the liability of a director for the payment of taxes pursuant to local, Delaware or federal law. 
 Section 8.2. Indemnification. 
 (a) Indemnification of Board
Members and Officers. 
 (i) Each Indemnitee shall be indemnified, defended and held harmless by the Company for all
actions taken by such Indemnitee and for all failures to take action (regardless of the date of any such action or failure to take action) to the fullest extent permitted by Delaware law against all expense, liability and loss (including without
limitation attorneys’ fees, judgments, fines, taxes, penalties, and amounts paid or to be paid in settlement) reasonably incurred or suffered by the Indemnitee in connection with any Proceeding. No indemnification pursuant to this Section shall
be made, however, in any case where the act or failure to act giving rise to the claim for indemnification is determined by a court to have constituted willful misconduct or recklessness. 

  
 12 

 (ii) The right to indemnification provided in this Section shall include the right to have
the expenses reasonably incurred by the Indemnitee in defending any Proceeding paid by the Company in advance of the final disposition of the Proceeding to the fullest extent permitted by Delaware law; provided that, if Delaware law so requires, the
payment of such expenses incurred by the Indemnitee in advance of the final disposition of a Proceeding shall be made only upon delivery to the Company of an undertaking, by or on behalf of the Indemnitee, to repay all amounts so advanced without
interest if it shall ultimately be determined that the Indemnitee is not entitled to be indemnified under this Section or otherwise. 
 (iii) Indemnification pursuant to this Section shall continue as to an Indemnitee who has ceased to be a director or officer and shall inure to the benefit of such person’s heirs, executors and
administrators. 
 (b) Indemnification of Employees and Other Persons. The Company may, by action of the Managing Board
and to the extent provided in such action, indemnify employees, Members and other persons as though they were Indemnitees. Directors and officers of entities which have merged into, or have been consolidated with, or have been liquidated into, the
Company shall not be Indemnitees with respect to Proceedings involving any action or failure to act of such director or officer prior to the date of such merger, consolidation or liquidation, but such persons may be indemnified by the Managing Board
pursuant to the first sentence of this subsection (b). 
 (c) Securing of Indemnification Obligations. To further effect,
satisfy or secure any indemnification obligations provided herein or otherwise, the Company may maintain insurance, obtain a letter of credit, act as self-insurer, create a reserve, trust, escrow, cash collateral or other fund or account, enter into
indemnification agreements, pledge or grant a security interest in any assets of the Company, or use any other mechanism or arrangement whatsoever in such amounts, at such costs, and upon such other terms and conditions as the Managing Board shall
deem appropriate. 
 (d) Defense of Certain Proceedings. As soon as practicable after receipt by any Indemnitee of notice
of the commencement of any Proceeding, such Indemnitee shall, if a claim with respect thereto may be made against the Company under Section 8.2, notify the Company in writing of the commencement of such Proceeding; provided, however, that
failure so to notify the Company shall not relieve the Company from any liability under Section 8.2 unless the Company shall have been prejudiced by such failure, or from any other liability which it may have to such Indemnitee other than under
Section 8.2. With respect to any Proceeding, the Company may participate therein at its own expense and, except as otherwise provided herein, to the extent that it desires the Company, jointly with any other indemnifying party, shall be
entitled to assume the defense of Indemnitee in the Proceeding, with counsel selected by the Company to the reasonable satisfaction of Indemnitee. After notice from the Company to Indemnitee of its election to assume the defense of Indemnitee in the
Proceeding, the Company shall not be liable to such Indemnitee under Section 8.2 for any legal or other expenses subsequently incurred by such Indemnitee in connection with the defense of Indemnitee in the Proceeding other than as otherwise
provided herein. Indemnitee shall have the right to employ Indemnitee’s own counsel in such Proceeding where the Company has assumed the defense of the Indemnitee, but the fees and expenses of such counsel incurred after notice from the Company
of its assumption of the defense of Indemnitee in the Proceeding shall be at the expense of such Indemnitee unless (i) the employment of counsel by such Indemnitee shall have been authorized by the Company; or (ii) such Indemnitee shall
have reasonably concluded that there may be a conflict of interest between the Company and such Indemnitee in the conduct of the defense of the Proceeding or that the defense conducted by the Company

  
 13 

 
may not be adequate; or (iii) the Company shall not in fact have employed counsel to assume the defense in such Proceeding. The Company shall not be entitled to assume the defense of any
Proceeding brought against an Indemnitee by or on behalf of the Company. 
 (e) Arbitration. Any dispute related to the
right to indemnification, contribution or advancement of expenses as provided under this Article, except with respect to indemnification for liabilities arising under the Securities Act of 1933 that the Company has undertaken to submit to a court
for adjudication, shall be decided only by arbitration in the metropolitan area in which the principal executive offices of the Company are located at the time, in accordance with the commercial arbitration rules then in effect of the American
Arbitration Association, before a panel of three arbitrators, one of whom shall be selected by the Company, the second of whom shall be selected by the Indemnitee and third of whom shall be selected by the other two arbitrators. In the absence of
the American Arbitration Association, or if for any reason arbitration under the arbitration rules of the American Arbitration Association cannot be initiated, or if one of the parties fails or refuses to select an arbitrator or if the arbitrators
selected by the Company and the Indemnitee cannot agree on the selection of the third arbitrator within 30 days after such time as the Company and the Indemnitee have each been notified of the selection of the other’s arbitrator, the necessary
arbitrator or arbitrators shall be selected by the presiding judge of the court of general jurisdiction in such metropolitan area. The party or parties challenging the right of an Indemnitee to the benefits of this Article shall have the burden of
proof. The Company shall reimburse an Indemnitee for the expenses (including attorneys’ fees and disbursements) incurred in successfully prosecuting or defending such arbitration. Any award entered by the arbitrators shall be final, binding and
nonappealable and judgment may be entered thereon by any party in accordance with applicable law in any court of competent jurisdiction, except that the Company shall be entitled to interpose as a defense in any such judicial enforcement proceeding
any prior final judicial determination adverse to the Indemnitee in a proceeding not directly involving indemnification under this Article. This arbitration provision shall be specifically enforceable. 

(f) Certain Exceptions. Notwithstanding anything in the foregoing to the contrary, the Company shall not be obligated to
indemnify any person (i) for any amounts paid in settlement of an action indemnified against by the Company, unless pursuant to prior written consent of the Company, or (ii) except as provided in subsection (e), with respect to
proceedings, claims or actions initiated or brought voluntarily by such person and not by way of defense. 
 ARTICLE 9.
ACCOUNTING AND BANK RECORDS 
 Section 9.1. Fiscal Year and Accounting Method. Unless otherwise determined by the
Managing Board, the fiscal year and taxable year of the Company shall end on December 31 (the “Fiscal Year”), or as required by the Code. For purposes of Capital Account maintenance, the Fiscal Year shall also be divided into
Accounting Periods as provided below. The method of accounting used by the Company shall be determined by the Managing Board. 

Section 9.2. Books and Records. At all times during the existence of the Company, the Company shall cause to be maintained
full and accurate books of account, which shall reflect all Company transactions. The books and records of the Company shall be maintained at the offices of the Company and/or such other places as the Managing Board may designate. Each Member (or
such Member’s designated representative) shall have the right during ordinary business hours and upon reasonable notice to inspect and copy (at such Member’s own expense) all books and records of the Company. 

  
 14 

 Section 9.3. Accountings. As soon as is reasonably practicable after the close
of each Fiscal Year, the Managing Board shall make or cause to be made a full and accurate inventory and accounting of the affairs of the Company as of the close of that Fiscal Year and shall prepare or cause to be prepared a balance sheet as at the
end of such Fiscal Year, a profit and loss statement for that Fiscal Year and a statement of Members’ capital showing the respective Capital Accounts of the Members as of the close of such Fiscal Year and, if any, the Capital Contributions of
and distributions to Members during such Fiscal Year. These financial statements may be prepared by the Managing Board and may be audited by independent accountants as the Managing Board may deem appropriate. 

Section 9.4. Capital Account. An individual capital account (each, a “Capital Account”) shall be established
and maintained for each Member in accordance with the following provisions: 
 (a) To the Capital Account of a Member, there
shall be credited such Member’s Capital Contributions and such Member’s share of Profits, pursuant to Section 10.2. 
 (b) From the Capital Account of a Member, there shall be debited the amount of cash and the Gross Asset Value of any Company Property distributed to such Member pursuant to any provision of this Agreement
and such Member’s share of Loss allocated pursuant to Section 10.2. 
 Section 9.5. Tax Returns and
Elections. The Company shall cause to be prepared and timely filed all federal, state and local income tax returns or other returns or statements required by applicable law. The Company shall claim all deductions and make such elections for
federal or state income tax purposes which the Tax Matters Officer reasonably believes will produce the most favorable tax results for the Members. William R. Seiler is hereby designated to serve as the Company’s “Tax Matters
Officer,” defined as having the meaning ascribed to the term “tax matters partner” in the Code, and in such capacity is hereby authorized and empowered to act for and represent the Company and each of the Members before
(i) the Service in any audit or examination of any Company tax return, and (ii) any court reviewing any adjustment assessed by the Service. Each of the Members does by execution of this Agreement consent and agree to become bound by all
actions of the Tax Matters Officer, including any contest, settlement or other action or position which the Tax Matters Officer may deem proper under the circumstances. The Members specifically acknowledge, without limiting the general applicability
of this Section, that the Tax Matters Officer shall not be liable, responsible or accountable in damages or otherwise to the Company or any Member with respect to any action taken by him in his capacity as the Tax Matters Officer, provided he used
reasonable business judgment with respect to the action taken. All out-of-pocket expenses incurred by the Tax Matters Officer in his capacity as the Tax Matters Officer shall be considered expenses of the Company for which the Tax Matters Member
shall be entitled to full reimbursement. 
 ARTICLE 10. ALLOCATIONS OF PROFITS AND LOSSES; DISTRIBUTIONS 

Section 10.1. Definitions. The following terms shall have the meanings ascribed to them in this Article: 

(a) The “Accounting Period” shall be (a) a Fiscal Year if there are no changes in Percentage Interests and no
adjustments pursuant to Subsection (c) below during the Fiscal Year except on the first day thereof, or (ii) any other period beginning on either (A) the first day of a Fiscal Year, or (B) any other day during a Fiscal Year upon
which occurs a change in Percentage Interests or adjustment pursuant to Subsection (c) below, and ending on the earlier of (X) the last day of a Fiscal 

  
 15 

 
Year, or (Y) the day preceding the next day upon which any change in Percentage Interests or adjustment pursuant to Subsection (c) below shall occur. 

(b) “Profit or Profits” and “Loss or Losses” mean, for each Accounting Period, an amount equal to the
Company’s taxable income or loss for such period, as determined by the Company’s accountants, in accordance with Code 703(a) (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to
703(a)(1) of the Code shall be included in Profits or Losses), with the adjustments required to comply with the capital account maintenance rules of Treasury Regulations 1.704-1(b)(2)(iv) and the following adjustments: 

(i) Any income of the Company that is exempt from federal income tax and not otherwise taken into account in computing Profits and
Losses shall be added back; 
 (ii) Any expenditures of the Company described in 705(a)(2)(B) of the Code or treated as
705(a)(2)(B) expenditures pursuant to Treasury Regulations 1.704(b)(2)(iv)(i), and not otherwise taken into account in computing Profits or Losses, shall be subtracted from such taxable income or loss; 

(iii) If the Gross Asset Value of any Company asset is adjusted pursuant to Section 10.1(c)(ii) hereof or (iv) hereof, the
amount of such adjustment shall be taken into account in the Accounting Period as gain or loss from the disposition of such asset for purposes of computing Profits or Losses; and 

(iv) Gain or loss resulting from any disposition of Company’s assets with respect to which gain or loss is recognized for federal
income tax purposes shall be computed by reference to the Gross Asset Value of the property disposed of, notwithstanding that the adjusted tax basis of such Property differs from its Gross Asset Value. 

(c) “Gross Asset Value” means, with respect to any asset, the asset’s adjusted basis for federal income tax
purposes, except as follows: 
 (i) The initial Gross Asset Value of cash contributed by a Member to the Company shall be the
amount of such cash contribution; 
 (ii) The Gross Asset Values of all Company assets shall be adjusted to equal their
respective gross fair market values, as of the following times: (i) the acquisition of an additional Interest in the Company by any new or existing Member in exchange for more than a de minimis Capital Contribution; (ii) the
distribution by the Company to a Member of more than a de minimis amount of Company property, unless all Members received simultaneous distributions of undivided interests in the distributed property in proportion to their respective
Percentages Interests; (iii) the last day of each Fiscal Year; and (iv) a liquidation within the meaning of Treasury Regulations Section 1.704-1(b)(2)(ii)(b); 
 (iii) The Gross Asset Value of the Company property distributed to any Member shall be the gross fair market value of such Company property; 

(iv) The Gross Asset Value of any Company property shall be increased (or decreased) to reflect any adjustments to the adjusted basis of
such Company property pursuant to Code section (734(b) or 743(b), but only to the extent that such adjustments are taken into 

  
 16 

 
account in determining Capital Accounts pursuant to Treasury Regulations Section 1.704-1(b)(2)(iv)(m); provided, however, that Gross Asset Values shall not be adjusted pursuant to this
subsection (iv) to the extent that the Managing Board determines that an adjustment pursuant to subsection (ii) is necessary or appropriate in connection with a transaction that would otherwise result in an adjustment pursuant to this
subsection (iv); and 
 (v) If the Gross Asset Value of an asset has been determined or adjusted pursuant hereto, such Gross
Asset Value shall thereafter be adjusted by the depreciation taken into account with respect to such asset for purposes of computing Profits and Losses, and Capital Accounts shall be adjusted in accordance with Treasury Regulations
Section 1.704-1(b)(2)(iv)(g) and the Members’ distributive shares of depreciation, depletion, amortization, gains and losses for tax purposes with respect to such property shall be determined so as to take account of the variation between
the adjusted tax basis and the Gross Asset Value of such property in the same manner as under Code Section 704(c). 

Section 10.2. Allocation of Profits and Losses. 
 (a) Profit or Loss. Profits and Losses of the Company shall be determined and allocated with respect to each Accounting Period of the Company as of the last day thereof. Subject to the other
provisions of this Section, an allocation to a Member of a share of Profits and Losses shall be treated as an allocation of the same share of each item of income, gain, loss and deduction that is taken into account in computing Profits and Losses.

 (b) Allocation of Profits and Losses; Profit Allocation. After giving effect to the Special Allocations set forth in
Section 10.2(c) hereof, all Profits and Losses for each Accounting Period shall be allocated to the Members in proportion to their respective Percentage Interests as the last day thereof. Anything herein to the contrary notwithstanding, any
recapture under applicable tax laws shall be allocated to the Members in the same proportions as the item generating the recapture shall have been allocated. 
 (c) Special Allocations. 
 (i) Qualified Income Offset.
Notwithstanding the allocations provided in Section 10.2(b) hereof and except as otherwise provided in this subsection 10.2(c), in the event that any Member receives an unexpected allocation of Loss or deduction or an unexpected distribution as
described in Treasury Regulations 1.704-1(b)(2)(ii)(d)(4), (5) or (6) which results in a deficit balance in such Member’s Capital Account (after taking into account reductions for the items set forth in Treasury Regulations
1.704-1(b)(2)(ii)(d)(4), (5), or (6)) in excess of (x) the amount such Member is obligated to restore, if any, and (y) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury
Regulations 1.704-2(g)(1) and 1.704-2(i)(5), such Member shall be allocated items of gross income or gain in the amount necessary to eliminate such excess as quickly as possible. This provision is intended to satisfy the definition of
“qualified income offset,” as defined in Treasury Regulations 1.704-1(b)(2)(ii)(d). 
 (ii) Limitation on Loss
Allocations. The Losses allocated pursuant to Section 10.2(b) shall not exceed the maximum amount of Losses that can be allocated without causing any Member to have a deficit balance in such Member’s Capital Account at the end of any
Fiscal Year (decreased by the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulations 1.704-2(g)(1) and 1.704-2(i)(5), and increased by the items set forth in

  
 17 

 
Treasury Regulations 1.704-1(b)(2)(ii)(d)(4), (5) or (6)). All Losses in excess of the limitations set forth in this paragraph shall be allocated among the Members, pro rata, to the extent
each, respectively, is liable, exposed or otherwise bears the economic risk of loss with respect to any debt or other obligation of the Company. 
 (iii) Section 754 Adjustment. If an adjustment to the adjusted tax basis of any Company asset pursuant to Code Section 734(b) or 743(b) is required, pursuant to Treasury Regulations
1.704-1(b)(2)(iv)(m), to be taken into account in determining Capital Accounts, the amount of such adjustment shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis)
and such gain or loss shall be specially allocated to the Member in a manner consistent with the manner in which their Capital Accounts are required to be adjusted pursuant to such Treasury Regulations Section. 

(iv) Curative Allocations. The allocations set forth in Sections 10.2(c)(i), (ii), and (iii) hereof (the “Regulatory
Allocations”) are intended to comply with certain requirements of Treasury Regulations 1.704-1 and 1.704-2. Notwithstanding any other provision of this Section 10.2 (other than the Regulatory Allocations and the provisions of
Section 10.2(f) hereof), the Regulatory Allocations shall be taken into account in allocating Losses and Profits and items of gross income, gain and deduction among the Members so that, to the extent possible, the net amount of such allocations
to the Members shall be equal to the net amount that would have been allocated to the Members if the Regulatory Allocations had not occurred. 
 (d) Syndication Expenses. Syndication Expenses for any Fiscal Year or other period shall be allocated to the Members in proportion to their Percentage Interests, provided that if additional Members
are admitted to the Company on different dates, all Syndication Expenses shall be divided among those who are Members from time to time so that, to the extent possible the cumulative Syndication Expenses are allocated in proportion to the Percentage
Interests from time to time. If the Managing Board determines that such result is not likely to be achieved through future allocations of Syndication Expenses, the Managing Board may allocate a portion of Profits or Losses so as to achieve the same
effect on the Capital Accounts of the Members, notwithstanding any other provision of this Agreement. 
 (e) Tax
Allocations. 
 (i) In accordance with 704(c) of the Code and the Treasury Regulations thereunder, Profit, gain, Loss and
deduction with respect to any Property contributed to the capital of the Company shall, solely for tax purposes, be allocated among the Members so as to take account of any variation between the adjusted basis of such Property to the Company for
federal income tax purposes and its initial Gross Asset Value (computed in accordance with Section 8.1(c) hereof). 
 (ii)
In the event the Gross Asset Value of any Company asset is adjusted pursuant to Section 8.1(c) hereof, subsequent allocations of Profit, gain, Loss and deduction with respect to such asset shall take into account any variation between the
adjusted basis of such asset for federal income tax purposes and its Gross Asset Value in the same manner as is contemplated by 704(c) of the Code and the Treasury Regulations thereunder. In particular, in each Fiscal Year, items of income,
deduction, gain, loss or credit that are recognized for income tax purposes shall be allocated among the Members in such manner as to reflect equitably amounts credited to or debited against each Member’s Capital Account, whether in such Fiscal
Year or in prior Fiscal Years. To this end, the Company shall establish and maintain records that shall show the extent to which each Capital Account of each Member 

  
 18 

 
shall, as of the last day of each Fiscal Year, be comprised of amounts that have not been reflected in the taxable income of such Member. To the extent deemed by the Managing Board to be feasible
and equitable, taxable income and gains in each Fiscal Year shall be allocated among the Members who have enjoyed the related credits, and items of deduction, loss and credit in each Fiscal Year shall be allocated among the Members who have borne
the burden of the related debits. 
 (iii) Notwithstanding any of the provisions of this Agreement to the contrary, if a Member
withdraws capital during a Fiscal Year, allocations of taxable income and loss shall be made as follows: 
 (A) Taxable income
shall be allocated first, to each Member who has withdrawn all of a Capital Account as of the last day of that Fiscal Year, to the extent of the positive difference, if any, derived by subtracting such Member’s adjusted tax basis in such
Member’s Interest in the Company with respect to such Capital Account from the balance in such Capital Account immediately prior to such withdrawal. If more than one Capital Account has been so withdrawn, such allocations shall be made to the
extent of and in proportion to such positive differences; 
 (B) Taxable income shall be allocated second, to each Member who
has withdrawn part of a Capital Account in that Fiscal Year and such withdrawal has exceeded such Member’s adjusted tax basis in such Member’s Interest with respect to such Capital Account as of the last day of that Fiscal Year, an amount
equal to (x) such excess plus (y) an amount equal to the taxable income otherwise allocable hereunder, less the amount allocated under clause (x) above (but not below zero). If more than one Capital Account has been so withdrawn in
part, the allocation under clause (x) shall be to the extent of and in proportion to such negative balances; and 
 (C)
Taxable loss shall first be allocated to each Member who has withdrawn all of a Capital Account in that Fiscal Year, to the extent that such Member’s adjusted tax basis in such Member’s Interest in the Company with respect to such Capital
Account exceed that Capital Account immediately prior to such withdrawal. If more than one Capital Account has been so withdrawn, such allocations of taxable loss shall be made to the extent of and in proportion to such differences. 

The Managing Board, in its exclusive discretion, may cause the Company to make the election to adjust the basis of Company Property
under Code Section 754. In any year in which the Code Section 754 election is in effect, this Section 10.2(e)(iii) shall be null and void. 
 (iv) Any elections or other decisions relating to such allocations shall be made by the Managing Board in any manner that reasonably reflects the purpose and intention of this Agreement. Allocations
pursuant to this Section 10.2(e) are solely for purposes of Federal, state and local taxes and shall not affect, or in any way be taken into account in computing, any Capital Account or share of Profits, Losses or other items of any Member, or
distributions to any Member, pursuant to any provision of this Agreement. 
 (f) Other Allocation Rules. 

(i) Generally, all Profits and Losses shall be allocated among the Members as provided in Section 10.2. If Members are admitted to
the Company on different dates during any Fiscal Year, the Profits or Losses allocated among the Members for each such Fiscal Year shall be allocated in proportion to their respective Capital Accounts from time to time during such Fiscal Year in

  
 19 

 
accordance with Code Section 706, using any convention permitted by law and selected by the Managing Board. 
 (ii) For purposes of determining the Profits, Losses or any other items allocable to any period, Profits, Losses and any such other items shall be determined on a daily, monthly or other basis, as
determined by the Managing Board using any permissible method under Code Section 706 and the Regulations thereunder. 

(iii) The Members are aware of the income tax consequences of the allocations made by this Section and hereby agree to be bound by the
provisions of this Section in reporting their shares of Profits and Losses for income tax purposes. 
 (iv) Notwithstanding any
of the foregoing provisions to the contrary, if taxable gain to be allocated includes income resulting from the sale or disposition of property of the Fund that is treated as ordinary income, such gain so treated as ordinary income shall be
allocated to and reported by each Member in proportion to allocations to that Member of the items that gave rise to such ordinary income, and the Company shall keep records of such allocations. In the event of the subsequent admission of any new
Member, any item that would constitute “unrealized receivables” under Code Section 751 and the Treasury Regulations thereunder shall not be shared by the newly admitted Members, but rather shall remain allocated to existing Members.

 (g) Provisional Allocation. If any amount claimed by the Company to constitute a deductible expense in any Fiscal Year
is treated by any Federal, state or local taxing authority as a payment made to a Member in such Member’s capacity as a member of the Company for income tax purposes, with regard to such authority, items of income and gain of the Company for
such Fiscal Year shall first be allocated to such Member to the extent of such payment. 
 Section 10.3. Determinations
as to Distributions. All determinations as to the amount and timing of distributions, and whether such distributions will be made wholly or partly in cash or in kind, shall be made in good faith by the Managing Board. 

ARTICLE 11. LIQUIDATION 
 Section 11.1. Order of Payments and Distributions. In the event of a dissolution or Liquidation of the Company, the Company shall pay and/or distribute the Liquidation Proceeds pursuant to the
Act and, to the extent not inconsistent with the Act, in the following order of priority: 
 (a) First, the expenses of
Liquidation and debts of the Company shall be paid. Any Reserves shall be established or continued which the Managing Board deems reasonably necessary for any contingent or unforeseen liabilities or obligations of the Company, provided that nothing
in this subsection (a) shall compromise or limit a Member’s exercise of his, her or its rights as a creditor of the Company relative to the rights of other creditors which are not Members of the Company; and 

(b) Second, the Company shall make distributions to each Member in proportion to each Member’s positive Capital Account as such
Capital Account shall stand at the end of the Fiscal Year in which the dissolution or Liquidation occurs after all adjustments have been made to the Capital Account including the allocation of Profit and Loss resulting from the dissolution or
Liquidation of the Company pursuant to this Agreement. 

  
 20 

 Section 11.2. Procedures for Dissolution. The Managing Board or its
representatives shall liquidate the assets of the Company, apply and distribute the Liquidation Proceeds as contemplated by this Agreement and cause the cancellation of the Certificate. As soon as practicable after the dissolution of the Company, a
full account of the assets and liabilities of the Company shall be taken, and a statement shall be prepared by the independent accountants then acting for the Company setting forth the assets and liabilities of the Company. A copy of such statement
shall be furnished to each Member within ninety (90) days after such dissolution. Thereafter, the assets of the Company shall be liquidated as promptly as practicable and the proceeds thereof shall be distributed as set forth in
Section 9.1 hereof. 
 Section 11.3. Miscellaneous. 

(a) Upon Liquidation of the Company, each Member shall look solely to the assets of the Company for the return of his, her or its
investment, and if the Company’s assets remaining after payment and discharge of debts and liabilities of the Company, including any debts and liabilities owed to any one or more of the Members, are not sufficient to satisfy the rights of a
Member, such Member shall have no recourse or further right or claim against the Company or any other Member. 
 (b) If any
assets of the Company are to be distributed in kind, such assets shall be distributed on the basis of the fair market value thereof and any Member entitled to any interest in such assets shall receive such interest therein as a tenant-in-common with
all other Members so entitled. 
 (c) Except as otherwise required by law, no Member shall be obligated to restore any negative
balance existing in his, her or its Capital Account upon Liquidation of such Member’s Interest. 
 ARTICLE 12.
MISCELLANEOUS 
 Section 12.1. No Third Party Rights. None of the provisions contained in this Agreement shall be
for the benefit of or enforceable by any third parties, including creditors of the Company. 
 Section 12.2. Entire
Agreement; Amendment. This Agreement, together with the Certificate, contains the entire agreement among the Members, relative to the subject matter hereof, and supersedes all prior and contemporaneous agreements and understandings, inducements
or conditions, express or implied, oral or written, except as herein contained. The express terms hereof control and supersede any course of performance and/or usage of the trade inconsistent with any of the terms hereof. Except as otherwise
expressly provided in this Agreement, this Agreement shall not be altered, modified or changed except by a written document duly executed by a Majority In Interest of the Members at the time of such alteration, modification or change; provided,
however, that the Managing Board shall be authorized to amend this Agreement without the consent of any Member if such amendment is necessary to comply with applicable laws (e.g., amendments necessary to conform with changes in the tax
law) or such amendment is ministerial in nature. 
 Section 12.3. Amendment to Certificate. The Certificate shall
not be amended except by the written consent of a Majority In Interest of the Members; provided, however, that the Managing Board shall be authorized to amend the Certificate without the consent of any Member if such amendment is necessary to
conform the Certificate with any amendment made to this Agreement. 

  
 21 

 Section 12.4. Severability. In the event any provision of this Agreement is held
to be illegal, invalid or unenforceable to any extent, the legality, validity and enforceability of the remainder of this Agreement shall not be affected thereby and shall remain in full force and effect and be enforced to the greatest extent
permitted by law. 
 Section 12.5. Binding Nature of Agreement; No Assignment. Subject to Article 5, this Agreement
shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, personal representatives, successors and assigns. 
 Section 12.6. Headings. The headings of the Articles and Sections of this Agreement are for convenience only and shall not be considered in construing or interpreting any of the terms or
provisions hereof. 
 Section 12.7. Counterparts. This Agreement may be executed in any number of counterparts, each
of which shall be deemed to be an original and all of which shall constitute one agreement that is binding upon all of the parties hereto, notwithstanding that all parties are not signatories to the same counterpart. 

Section 12.8. Partition. Each of the parties irrevocably waives during the term of the Company any right that he, she or it
may have to maintain any action for partition with respect to the Property of the Company. 
 Section 12.9. Appointment
of Attorney-in-Fact. Each Member hereby irrevocably constitutes and appoints the Chairman and the Vice Chairman of the Managing Board his, her or its true and lawful attorney-in-fact, with full power of substitution, and with full power and
authority in his, her or its name, place and stead to execute, acknowledge, deliver, swear to, file and record with the appropriate public offices such certificates, instruments and documents as may be necessary or appropriate to carry out the
provisions of this Agreement or effectuate any action taken by or on behalf of the Company, including, but not limited to, any amendments to this Agreement or the Certificate. This appointment as attorney-in-fact shall be deemed to be a power
coupled with an interest, in recognition of the fact that each of the Members under this Agreement will be relying upon the power of the attorneys-in-fact to act as contemplated by this Agreement in any filing and other action by the
attorneys-in-fact on behalf of the Company and, shall to the fullest extent permitted by applicable law, survive the Bankruptcy, death or incompetency of any Member hereby giving such power. The power of attorney granted herein may be exercised by
an attorney-in-fact by listing, or attaching a list of, all of the names of the Members and executing such amendments, certificates, instruments and other documents with the signature of the attorney-in-fact for all Persons whose names are so
listed. 
 Section 12.10. Notices. All notices, requests, demands and other communications required or permitted
under this Agreement shall be in writing and shall be deemed to have been duly given, made and received when personally delivered or sent by confirmed telecopy, one business day following the day when deposited with an overnight courier service, for
delivery to the intended addressee or three (3) business days following the day when deposited in the United States mails, first class postage prepaid. 
 Section 12.11. Governing Law. The validity, construction and performance of this Agreement, and the legal relations among the parties to this Agreement, shall be governed by and construed in
accordance with the laws of the State of Delaware, without regard to principles of conflicts of laws. 

  
 22 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date and year first
above written. 
  

			
	RESOURCE ENERGY, INC.
		
	By:	 	/s/ Michael L. Staines
		
	Its:	 	President
	
	AIC, INC.
		
	By:	 	/s/ Steven J. Kessler
		
	Its:	 	Senior Vice President
	
	VIKING RESOURCES CORPORATION
		
	By:	 	/s/ Michael L. Staines
		
	Its:	 	President and Secretary
	
	 ATLAS ENERGY GROUP, INC.

		
	By:	 	/s/ Michael L. Staines
		
	Its:	 	Senior Vice President and Secretary
	
	ATLAS RESOURCES, INC.
		
	By:	 	/s/ Michael L. Staines
		
	Its:	 	Senior Vice President and Secretary
	
	REI-NY, INC.
		
	By:	 	/s/ Michael L. Staines
		
	Its:	 	Vice President and Assistant Secretary

  

  
 23

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00199-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00199-of-00352.parquet"}]]