Document:

Escrow Agreement

 Exhibit 10.1 
 ESCROW AGREEMENT 
 THIS ESCROW AGREEMENT, dated as of July 16, 2012
(this “Agreement”), is by and among Halcón Resources Corporation, a Delaware corporation (the “Company”), U.S. Bank National Association, a national banking association, as trustee under the Indenture (as defined herein)
(“Trustee”) and U.S. Bank National Association, a national banking association, as escrow and paying agent under this Agreement (“Escrow Agent”). 
 RECITALS 
 WHEREAS, this Agreement is being entered into in connection with
(i) the Purchase Agreement dated as of June 29, 2012 (the “Purchase Agreement”), among the Company, the Guarantors set forth on Schedule II to the Purchase Agreement and the initial purchasers set forth on Schedule I to the
Purchase Agreement (the “Initial Purchasers”), and (ii) the Indenture dated as of even date herewith (the “Indenture”), among the Company, the Guarantors named therein and Trustee, governing the Company’s 9.75% Senior
Notes due 2020 (the “Notes”); and 
 WHEREAS, the Escrow Funds (as defined herein) will be released either to the
Company or to the Paying Agent (as defined herein) for the Notes as provided in Section 4 of this Agreement. 
 STATEMENT OF
AGREEMENT 
 NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties agree as follows: 
 1. Definitions. The following terms have the following meanings when used in this
Agreement: 
 “Business Day” means any day other than a Saturday, a Sunday or a day on which banking institutions are
not required to be open in the State of New York. 
 “Escrow Funds” means the Initial Deposit, together with any
interest and other income thereon from any investments made pursuant to Section 6 hereof. The Escrow Funds are held for the benefit of holders of the Notes and do not constitute property or an asset of the Company, and the Company has only a
contingent right to receive payment of the Escrow Funds on the terms and subject to the conditions set forth in this Agreement. 

“Initial Deposit” shall have the meaning set forth in Section 3 hereof. 

“Paying Agent” means U.S. Bank National Association, in its capacity as paying agent for the Notes. 

“Release Certificate” means an officer’s certificate (which will be concurrently delivered to Trustee) substantially in
the form of Exhibit A to this Agreement, signed by the Chief Executive Officer, the Chief Financial Officer or any Executive Vice President of the Company, certifying to Escrow Agent on behalf of the Company as to the matters specified in
Exhibit A, directing Escrow Agent to disburse the Escrow Funds in accordance with the payment instructions contained in the certificate. 

 “Special Mandatory Redemption” means the mandatory redemption of the Notes
pursuant to Section 3.8 of the Indenture. 
 “Special Mandatory Redemption Notice” means written notice from the
Company to Escrow Agent in accordance with Section 3.8 of the Indenture specifying (a) that the Special Mandatory Redemption is required and (b) the date fixed for the Special Mandatory Redemption. 

Any capitalized terms used in this Agreement and not defined herein have the meanings attributed thereto in the Indenture. 

2. Appointment of and Acceptance by Escrow Agent. The Company and Trustee hereby appoint Escrow Agent to serve as escrow agent
hereunder. Escrow Agent hereby accepts such appointment and, upon receipt by wire transfer of the Initial Deposit in accordance with Section 3 below, agrees to hold, invest and disburse the Escrow Funds subject to and in accordance with this
Agreement. 
 3. Creation of Escrow Funds. On the date hereof, the Initial Purchasers will, at the direction of the
Company, transfer the sum of $724,845,000 to Escrow Agent, by wire transfer of immediately available funds (the “Initial Deposit”), to the following account (the “Escrow Account”): 

Bank: U.S. Bank National Association 
 ABA#: 091000022 
 Account: A/C 180121167365 

BNF: USBANK CT WIRE CLRG 
 F/F/C: Account Number: 163436000; Account Name: Halcon Resources 
 Attn:
Steven Finklea/Michael Popham 
 4. Disbursement of Escrow Funds. 

(a) Completion of GeoResources Merger. Subject to the following sentence, if, prior to December 31, 2012, the Company
delivers to Escrow Agent a Release Certificate, Escrow Agent will liquidate the Escrow Funds then held by it and disburse all Escrow Funds according to the payment instructions contained in the Release Certificate. The Company shall provide Escrow
Agent at least two Business Days prior notice of the anticipated delivery of the Merger Certificate, unless otherwise agreed by Escrow Agent. 
 (b) Special Mandatory Redemption. If Escrow Agent receives the Special Mandatory Redemption Notice, then Escrow Agent will disburse all Escrow Funds directly to the Paying Agent on or before 11:00
a.m., New York City time, on the date fixed for the Special Mandatory Redemption specified in such notice. If Escrow Agent receives a notice of a Special Mandatory Redemption, Escrow Agent will liquidate the Escrow Funds then held by it sufficiently
prior to the mandatory redemption date, and in any event no later than the Business Day prior to the mandatory redemption date, to permit it to release all Escrow Funds to the Paying Agent. 

  
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 5. Suspension of Performance; Disbursement Into Court. If, at any time, there exists
any dispute with respect to the holding or disposition of any portion of the Escrow Funds or any other obligations of Escrow Agent hereunder, or if at any time Escrow Agent is unable to determine, to Escrow Agent’s sole satisfaction, the proper
disposition of any portion of the Escrow Funds or Escrow Agent’s proper actions with respect to its obligations hereunder, or if Trustee has not within 30 days of the furnishing by Escrow Agent of a notice of resignation under Section 7
hereof, appointed a successor Escrow Agent to act hereunder, then Escrow Agent may, in its sole discretion, take either or both of the following actions: 
 (a) suspend the performance of any of its obligations (including without limitation any disbursement obligations) under this Agreement until such dispute or uncertainty has been resolved to the sole
satisfaction of Escrow Agent or until a successor Escrow Agent has been appointed (as the case may be); provided however, that Escrow Agent will continue to invest the Escrow Funds in accordance with Section 6 hereof; and/or 

(b) petition (by means of an interpleader action or any other appropriate method) any court of competent jurisdiction, in any venue
convenient to Escrow Agent, for instructions with respect to such dispute or uncertainty, and, to the extent required by law, pay into such court, for holding and disposition in accordance with the instructions of such court, all Escrow Funds held
by it. 
 Escrow Agent will have no liability to the Company, the holders of the Notes or any other person, except for Escrow
Agent’s fraud, willful misconduct or gross negligence, with respect to any such suspension of performance or disbursement into court, specifically including any liability or claimed liability that may arise, or be alleged to have arisen, out of
or as a result of any delay in the disbursement of Escrow Funds or any delay in or with respect to any other action required or requested of Escrow Agent. 
 6. Investment of Funds. The Company may from time to time instruct Escrow Agent in writing to invest the Escrow Funds from time to time in the investments indicated on Exhibit B attached
hereto, which investments shall be made in the name of the Company. In the absence of such direction, the funds shall remain uninvested. Escrow Agent may, without notice to the Company, liquidate any investments held in order to provide funds
necessary to make required payments under this Agreement. All investment earnings shall become part of the Escrow Funds and investment losses shall be charged against the Escrow Funds. Escrow Agent shall not be liable for losses, penalties or
charges incurred upon any sale or purchase of any such investment except for Escrow Agent’s fraud, willful misconduct or gross negligence. 
 Except as otherwise set forth herein, Escrow Agent does not have any interest in the Escrow Funds deposited hereunder but is serving as escrow holder only and having only possession thereof. The Company
will pay or reimburse Escrow Agent and Trustee upon request for any transfer taxes or other taxes relating to the Escrow Funds incurred in connection herewith and will indemnify and hold harmless Escrow Agent and Trustee with respect to any amounts

  
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that it is obligated to pay in the way of such taxes, in each case to the reasonable satisfaction of Escrow Agent and Trustee. Any payments of income from the Escrow Account will be subject to
United States federal withholding tax regulations then in force. The Company will complete and provide Escrow Agent with an appropriate W-9 form for taxpayer identification number certifications, or W-8 forms for non-resident alien certifications,
as requested. It is understood that Escrow Agent will be responsible for income reporting only with respect to income earned on investment of funds which are a part of the Escrow Funds and is not responsible for any other reporting. All interest or
other income earned under this Agreement shall be allocated to the Company and reported, as and to the extent required by law, by Escrow Agent to the Internal Revenue Service (“IRS”), or any other taxing authority, on IRS Form 1099 or
1042-S (or other appropriate form) as income earned from the Escrow Funds by the Company whether or not said income has been distributed during such year. Any other tax returns required to be filed will be prepared and filed by the Company with the
IRS and any other taxing authority as required by law. The parties acknowledge and agree that Escrow Agent shall have no responsibility for the preparation and/or filing of any income, franchise or any other tax return with respect to the Escrow
Account or any income earned by the Escrow Funds. Escrow Agent shall withhold any taxes it deems appropriate, including but not limited to required withholding in the absence of proper tax documentation, and shall remit such taxes to the appropriate
authorities. The provisions of this paragraph will survive the termination of this Agreement or the earlier resignation or removal of Escrow Agent. 
 7. Resignation of Escrow Agent. Escrow Agent may resign from the performance of its duties hereunder at any time by giving ten Business Days’ prior written notice to Trustee and the Company.
Such resignation will take effect upon the appointment of a successor Escrow Agent as provided herein below. Within ten Business Days of any such notice of resignation, the Company will appoint a successor Escrow Agent hereunder, which shall be a
commercial bank, trust company or other financial institution with a combined capital and surplus in excess of $250.0 million. If the Company has failed to appoint a successor Escrow Agent within the ten Business Days following the delivery of the
Escrow Agent’s notice of resignation, the Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor Escrow Agent or for other appropriate relief, and any such resulting appointment shall be binding upon
the Company. 
 8. On the acceptance in writing of any appointment as Escrow Agent hereunder by a successor Escrow Agent, such
successor Escrow Agent will succeed to and become vested with all the rights, powers, privileges and duties of the retiring Escrow Agent under this Agreement, and the retiring Escrow Agent will be discharged from its duties and obligations under
this Agreement, but will not be discharged from any liability for actions taken as Escrow Agent hereunder prior to such succession. After any retiring Escrow Agent’s resignation, the provisions of this Agreement will inure to its benefit as to
any actions taken or omitted to be taken by it while it was Escrow Agent under this Agreement. The retiring Escrow Agent will transmit all records pertaining to the Escrow Funds and will pay the Escrow Funds to the successor Escrow Agent, after
making copies of such records as the retiring Escrow Agent deems advisable. If a successor Escrow Agent has not accepted such appointment by the end of such 10 Business Day period or such successor escrow agent has not become so bound, Escrow Agent
may, in its reasonable discretion, deliver the Escrow Funds to Trustee at the address provided herein or may apply to a court of competent jurisdiction for the appointment of a successor escrow agent or for other appropriate relief. 

  
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 9. Liability of Escrow Agent. 

(a) Escrow Agent will have no liability or obligation with respect to the Escrow Funds except for Escrow Agent’s fraud, willful
misconduct or gross negligence, and Escrow Agent shall not be required to expend or risk any of its own funds or otherwise incur any liability, financial or otherwise, in the performance of any of its duties hereunder. Escrow Agent’s sole
responsibility will be for the safekeeping, investment and disbursement of the Escrow Funds in accordance with the terms of this Agreement. Escrow Agent will have no implied duties or obligations and will not be charged with knowledge or notice of
any fact or circumstance not specifically set forth herein. Under no circumstances will the Escrow Agent be deemed to be a fiduciary to the Company or any other person under this Agreement. Escrow Agent may rely upon any instrument, not only as to
its due execution, validity and effectiveness, but also as to the truth and accuracy of any information contained therein, which Escrow Agent shall in good faith believe to be genuine, to have been signed or presented by the person or parties
purporting to sign the same and to conform to the provisions of this Agreement. Concurrently with the execution of this Agreement, the Company shall deliver to the Escrow Agent authorized signers’ forms in the form of Exhibit C attached to this
Escrow Agreement. In no event will Escrow Agent be liable for incidental, indirect, special, consequential or punitive damages. Escrow Agent will not be obligated to take any legal action or commence any proceeding in connection with the Escrow
Funds, any account in which Escrow Funds are deposited, this Agreement, or to appear in, prosecute or defend any such legal action or proceeding. Escrow Agent may consult legal counsel selected by it in the event of any dispute or question as to the
construction of any of the provisions hereof or of any other agreement or of its duties hereunder, or relating to any dispute involving any party hereto, and will incur no liability in acting in accordance with the opinion or instruction of such
counsel. Escrow Agent shall not be under any duty to give the Escrow Funds held by it hereunder any greater degree of care than it gives similar escrow property held by U.S. Bank National Association for similar escrow accounts and shall not be
required to invest any funds held hereunder except as directed in this Agreement. Uninvested funds held hereunder shall not earn or accrue interest. When Escrow Agent acts on any information, instructions, communications (including, but not limited
to, communications with respect to the delivery of securities or the wire transfer of funds) sent by telex, facsimile, e-mail or other form of electronic or data transmission, Escrow Agent, absent fraud, gross negligence or willful misconduct, shall
not be responsible or liable in the event such communication is not an authorized or authentic communication of the party purporting to have sent it, or is not in the form sent or intended to have been sent by the party purporting to have sent it
(whether due to fraud, distortion or otherwise). In the event of any ambiguity or uncertainty hereunder or in any notice, instruction or other communication received by Escrow Agent hereunder, Escrow Agent may, in its sole discretion, refrain from
taking any action other than to retain possession of the Escrow Funds, unless Escrow Agent receives written instructions, signed by the parties required to execute an amendment hereunder to the provisions under which such ambiguity or uncertainty
arises, which eliminates such ambiguity or uncertainty. 

  
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 (b) Escrow Agent will not incur any liability, except for Escrow Agent’s fraud, willful
misconduct or gross negligence, for not performing any act or fulfilling any duty, obligation or responsibility hereunder by reason of any occurrence beyond the control of Escrow Agent (including but not limited to any act or provision of any
present or future law or regulation or governmental authority, any act of God or war, fire, terrorism, floods, strikes, or electrical outages related thereto or the unavailability of the Federal Reserve Bank wire or telex or other wire or
communication facility). Escrow Agent shall have no duty to verify or confirm any of the representations contained in the Release Certificate and shall have no responsibility therefor other than to confirm that it is substantially in
the form attached hereto. Escrow Agent shall be entitled to conclusively rely on the instructions of the Company or Trustee, as applicable. Trustee shall have no duties or responsibilities with respect to the Release Certificate or its
contents. 
 (c) Escrow Agent is authorized, in its sole discretion, to comply with orders issued or process entered by any
court with respect to the Escrow Funds, without determination by Escrow Agent of such court’s jurisdiction in the matter. If any portion of the Escrow Funds is at any time attached, garnished or levied upon under any court order, or in case the
payment, assignment, transfer, conveyance or delivery of any of the Escrow Funds shall be stayed or enjoined by any court order, or in case any order, judgment or decree shall be made or entered by any court affecting the Escrow Funds or any part
thereof, then and in any such event, Escrow Agent is authorized, in its sole discretion, to rely upon and comply with any such order, writ, judgment or decree which it is advised by legal counsel selected by it is binding upon it without the need
for appeal or other action; and if Escrow Agent complies with any such order, writ, judgment or decree, it will not be liable to any of the parties hereto or to any other person or entity by reason of such compliance even though such order, writ,
judgment or decree may be subsequently reversed, modified, annulled, set aside or vacated. 
 10. Indemnification of Escrow
Agent. The Company will be liable for and will reimburse and indemnify Escrow Agent and its affiliates and their respective successors, assigns, directors, officers, managers and employees (the “Indemnitees”), and hold the Indemnitees
harmless from and against any and all claims, losses, liabilities, costs, damages or expenses (including reasonable attorneys’, agents’ and professional advisers’ fees and expenses) (collectively, “Losses”) arising from or
in connection with or related to this Agreement or being Escrow Agent hereunder (including but not limited to Losses incurred by Escrow Agent in connection with its successful defense, of any claim of gross negligence, willful misconduct or bad
faith on its part as determined by a court of competent jurisdiction in a final and non-appealable decision); provided, however, that nothing contained herein will require an Indemnitee to be indemnified for Losses caused by its gross negligence,
willful misconduct or bad faith as determined by a court of competent jurisdiction in a final and non-appealable decision. The provisions of this Section 10 will survive the termination of this Agreement or the earlier resignation or removal of
Escrow Agent. 
 11. Fees and Expenses of Escrow Agent. The Company has agreed to pay the fees and expenses of Escrow
Agent for its services hereunder as shall have been agreed to by the Company and Escrow Agent. 

  
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 12. Notice. All notices and other communications hereunder shall be in writing and
shall be deemed to have been validly served, given or delivered three days after deposit in the United States mails, by certified mail with return receipt requested and postage prepaid, when delivered personally, one day after delivery to any
overnight courier, or when transmitted by facsimile transmission facilities, and addressed to the party to be notified as follows: 
 If to Escrow Agent or Trustee, at: 
 U.S. Bank National Association 

5555 San Felipe Street, Suite 1150 
 Houston, Texas 77056 
 Facsimile: 713-235-9213 

Attention: Steven A. Finklea, CCTS – Vice President 
 If to Company: 
 Halcón Resources Corporation 

1000 Louisiana, Suite 6700 
 Houston, Texas 77002 
 Attention: General Counsel 

With a copy (which shall not constitute notice) to: 
 Thompson & Knight LLP 
 333 Clay Street, Suite 3300 

Houston, Texas 77002 
 Attention: William T. Heller IV 
 or to such other address as each party may designate for itself
by like notice. 
 13. No Third-Party Beneficiary; Amendment or Waiver. This Agreement is for the benefit of the parties
hereto and their respective successors and is not intended to be for the benefit of any third-parties. This Agreement may be changed, waived, discharged or terminated only by a writing signed by the Issuer, Trustee and Escrow Agent; provided, that
any amendment to Section 4 also will require the consent of holders of record of all the then outstanding Notes. No delay or omission by any party in exercising any right with respect to this Agreement will operate as a waiver. A waiver on any
one occasion will not be construed as a bar to, or waiver of, any right or remedy on any future occasion. 
 14.
Severability. To the extent any provision of this Agreement is prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such
provision or the remaining provisions of this Agreement. 
 15. Governing Law. This Agreement and any claim, controversy
or dispute arising out of or relating to this Agreement shall be construed and interpreted in accordance with the internal laws of the State of New York without giving effect to the conflict of laws principles thereof. 

  
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 16. Entire Agreement. This Agreement constitutes the entire agreement among the
parties relating to the holding, investment and disbursement of the Escrow Funds and sets forth in their entirety the obligations and duties of Escrow Agent with respect to the Escrow Funds. 

17. Binding Effect. All of the terms of this Agreement, as amended from time to time, shall be binding upon, inure to the benefit
of and be enforceable by the respective successors and assigns of Trustee and Escrow Agent and the Company. 
 18. Execution
in Counterparts. This Agreement may be executed in two or more counterparts, which when so executed shall constitute one and the same agreement or direction. 
 19. Termination. Other than as expressly set forth herein, upon the first to occur of the disbursement of all amounts in the Escrow Funds under Section 4 of this Agreement or the disbursement
of all amounts in the Escrow Funds into court under Section 5 of this Agreement, this Agreement will terminate and, except as otherwise provided in Section 9 of this Agreement, Escrow Agent will have no further obligation or liability
whatsoever with respect to this Agreement or the Escrow Funds. 
 20. Dealings. Escrow Agent and any stockholder,
director, officer or employee of Escrow Agent may buy, sell, and deal in any of the securities of the Company and become pecuniarily interested in any transaction in which the Company may be interested, and contract and lend money to the Company and
otherwise act as fully and freely as though it were not Escrow Agent under this Agreement. Nothing in this Agreement will preclude Escrow Agent from acting in any other capacity for the Company or for any other entity. 

21. Security Advice Waiver. Trustee and the Company acknowledge that regulations of the Comptroller of the Currency may grant them
the right to receive brokerage confirmations of the security transactions as they occur. Trustee and the Company specifically waive such notification to the extent permitted by law and will receive periodic cash transaction statements that will
detail all investment transactions. 
 22. Patriot Act. To help the government fight the funding of terrorism and money
laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. For a non-individual person such as a business entity, a charity, a trust or other
legal entity Escrow Agent will ask for documentation to verify its formation and existence as a legal entity. Escrow Agent may also ask to see financial statements, licenses, identification and authorization documents from individuals claiming
authority to represent the entity or other relevant documentation and the parties to this Agreement agree to provide Escrow Agent with such information as it may request in accordance with this Section 22. 

[Signature Page Follows] 

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

			
	COMPANY
	
	HALCÓN RESOURCES CORPORATION
		
	By:	 	 /s/ Mark J. Mize

	Name:	 	Mark J. Mize
	Title:	 	Executive Vice President—Chief Financial Officer and Treasurer

 Signature Page to Escrow Agreement 

 
			
	TRUSTEE
	
	 U.S. BANK NATIONAL ASSOCIATION,

as Trustee

		
	By:	 	 /s/ Steven A Finklea

	Name:	 	Steven A. Finklea
	Title:	 	Vice President
	
	ESCROW AGENT
	
	 U.S. BANK NATIONAL ASSOCIATION,

as Escrow Agent

		
	By:	 	 /s/ Steven A Finklea

	Name:	 	Steven A. Finklea
	Title:	 	Vice President

  

Signature Page to Escrow Agreement 

 Exhibit A 

Form of Release Certificate 
 Officer’s Certificate 
 of 

Halcón Resources Corporation 
 This Release Certificate is being delivered to Escrow Agent under Section 4(a) of the Escrow Agreement, dated as of July 16, 2012 (the “Agreement”), among Halcón Resources
Corporation, a Delaware corporation (the “Company”), U.S. Bank National Association, a national banking association, as trustee under the Indenture (“Trustee”), and U.S. Bank National Association, a national banking association,
as escrow agent (“Escrow Agent”). Concurrently, this Certificate also is being delivered to Trustee. Capitalized terms used but not defined in this Certificate have the respective meanings specified in the Agreement. The undersigned
officer of the Company hereby certifies that: 
 The conditions to closing of the Company’s acquisition (the
“GeoResources Merger”) of GeoResources, Inc. (“GeoResources”) pursuant to the Agreement and Plan of Merger, dated as of April 24, 2012 (the “Merger Agreement”), by and between the Company, Leopard Sub I, Inc., a
wholly owned subsidiary of the Company, Leopard Sub II, LLC, a wholly owned subsidiary of the Company, and GeoResources, have been satisfied or are capable of being immediately satisfied (other than conditions related to funding) and the
GeoResources Merger is expected to close substantially concurrently with the release of the Escrow Funds, in each case on substantially the terms contemplated by the Merger Agreement, with any such changes as the Company has reasonably determined
are appropriate, provided that the overall benefits of the transaction are consistent in all material respects with the benefits of the transaction to the Company as described in the Offering Memorandum dated June 29, 2012 relating to the
offering of the Notes. 
 Escrow Agent is hereby directed to disburse immediately by wire all Escrow Funds to, or for the
account of the Company, as follows: 
  

					
	 Recipient
	  	Amount	 
		  	$	 	  
		
		  	 	Balance of Escrow Funds	  

 IN WITNESS WHEREOF, the Company, through the undersigned officer, has signed this Release Certificate
this      day of             , 2012. 

 
			
	HALCÓN RESOURCES CORPORATION
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 Signature Page to Merger Certificate 

 Exhibit B 

Authorized Investments 
 None. 

 EXHIBIT C 

Certificate as to Authorized Signatures 
 The specimen signatures shown below are the specimen signatures of the individuals who have been designated as authorized representatives of Halcón Resources Corporation (the “Company”)
and are authorized to initiate and approve transactions of all types for the escrow account or accounts established under the Escrow Agreement to which this Exhibit C is attached, on behalf of the Company. 

 

					
	Name / Title	  	 	  	 Specimen Signature

			
	Floyd C. Wilson	  		  	 /s/ Floyd C. Wilson

		  		  	Signature
	Chairman and Chief Executive Officer	  		  	
			
	Mark J. Mize	  		  	 /s/ Mark J. Mize

		  		  	Signature
	Executive Vice President, Chief Financial Officer and Treasurer	  		  	
			
	David S. Elkouri	  		  	 /s/ David S. Elkouri

		  		  	Signature
	Executive Vice President, General CounselSecond Amended and Restated American Midstream GP, LLC Long-Term Incentive Plan

 Exhibit 10.1 
 SECOND AMENDED AND RESTATED 
 AMERICAN MIDSTREAM GP, LLC 

LONG-TERM INCENTIVE PLAN 

1. Purpose of the Plan. This Second Amended and Restated American Midstream GP, LLC Long-Term Incentive Plan (the “Plan”) has
been adopted by American Midstream GP, LLC, a Delaware limited liability company (the “Company”), the general partner of American Midstream Partners, LP a Delaware limited partnership (the “Partnership”). The Plan
is intended to promote the interests of the Partnership, the Company and their Affiliates by providing to employees, consultants and directors of the Partnership, the Company and their Affiliates incentive compensation awards for superior
performance that are based on Units. The Plan is also contemplated to enhance the ability of the Partnership, the Company and their Affiliates to attract and retain the services of individuals who are essential for the growth and profitability of
the Company, the Partnership and their Affiliates, and to encourage them to devote their best efforts to advancing the business of the Company, the Partnership and their Affiliates. 
 2. Definitions; Construction. 
 (a) Definitions. As used in the
Plan, the following terms shall have the meanings set forth below: 
 “Affiliate” means, with respect to any
Person, any other Person that directly or indirectly through one or more intermediaries controls, is controlled by or is under common control with, the Person in question. As used herein, the term “control” means the possession, direct or
indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise. Notwithstanding the immediately preceding two sentences, to the extent that
Section 409A of the Code applies to Options or Unit Appreciation Rights granted under the Plan, the term “Affiliate” means all Persons with whom the Partnership could be considered a single employer under Section 414(b) or
Section 414(c) of the Code substituting “50 percent” in place of “80 percent” in determining a controlled group of corporations under Section 414(b) of the Code and in determining trades or businesses (whether or not
incorporated) that are under common control for purposes of Section 414(c) of the Code. 
 “Award” means
an Option, UAR, Restricted Unit, Phantom Unit, Other Unit-Based Award, Unit Award or Replacement Award, and shall also include any tandem DERs granted with respect to an Award. 

“Award Agreement” means the written or electronic agreement by which an Award shall be evidenced. 

“Board” means the Board of Directors of the Company. 

  
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 “Change of Control” means, and shall be deemed to have occurred upon the
occurrence of, one or more of the following events: 
 (i) any “Person” or “group” within the
meaning of those terms as used in Section 13(d) and Section 14(d)(2) of the Exchange Act, other than an Affiliate of the Company or the Partnership, shall become the beneficial owner, by way of merger, consolidation, recapitalization,
reorganization or otherwise, of 50% or more of the combined voting power of the equity interests in the Company or the Partnership; 
 (ii) the limited partners of the Partnership approve, in one or a series of transactions, a plan of complete liquidation of the Partnership; 

(iii) the sale, lease or other disposition by either the Company or the Partnership of all or substantially all of its
assets in one or more transactions to any Person other than the Company or an Affiliate of the Company; or 

(iv) a transaction resulting in a Person other than the Company or an Affiliate of the Company being the general partner
of the Partnership. 
 ; provided, however, that, notwithstanding the foregoing, with respect to an Award that is subject to
Section 409A of the Code and with respect to which a Change of Control will accelerate payment, “Change of Control” shall only include a Change of Control that constitutes a “change in control event” as defined in the
regulations and guidance issued under Section 409A of the Code; and provided further, however, that, notwithstanding the foregoing, for purposes of determining whether the vesting of any Award accelerates, “Change of
Control” shall not include any initial public offering of the Partnership’s equity securities that is registered under the Securities Act of 1933 or any private offering undertaken by or for the Partnership as an alternative to such an
initial public offering. 
 “Code” means the Internal Revenue Code of 1986, as amended. Reference to any
section of the Code shall include reference to such section and the regulations and other authoritative guidance promulgated thereunder. 
 “Committee” means the Board or such committee of the Board, if any, as may be appointed by the Board to administer the Plan. 

“Consultant” means an independent contractor, other than a Director, who performs services for the benefit of the
Company or the Partnership or an Affiliate of either of them. 
 “DER” or “Distribution Equivalent
Right” means a contingent right, granted in tandem with a specific Option, UAR or Phantom Unit, to receive an amount in cash equal to the cash distributions made by the Partnership with respect to a Unit during the period such DER is
outstanding. 
 “Director” means a member of the Board or a board of directors of an Affiliate who is not an
Employee or a Consultant. 

  
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 “Employee” means any employee of the Company or the Partnership or an
Affiliate of either of them who performs services for the benefit of the Company or the Partnership or an Affiliate of either of them. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 “Fair Market Value” means the closing sales price of a Unit on the principal national securities exchange or other market in which trading in Units occurs on the applicable date (or if
there is no trading in the Units on such date, on the next preceding date on which there was trading) as reported in The Wall Street Journal (or other reporting service approved by the Committee). In the event Units are not traded on a
national securities exchange or other market at the time a determination of fair market value is required to be made hereunder, the determination of fair market value shall be made in good faith by the Committee by the reasonable application of a
reasonable method. Notwithstanding the foregoing, with respect to an Award granted on the effective date of the initial public offering of Units, Fair Market Value on such date shall mean the initial offering price per Unit as stated on the cover
page of the Registration Statement on Form S-1 (or successor form thereto) for such offering. 
 “Option” means
an option to purchase Units granted under the Plan. 
 “Other Unit-Based Award” means an award granted pursuant
to Section 6(f). 
 “Participant” means any Employee, Consultant or Director granted an Award under
the Plan. 
 “Person” means an individual or a corporation, limited liability company, partnership, joint
venture, trust, unincorporated organization, association, government agency or political subdivision thereof or other entity. 

“Phantom Unit” means a phantom (notional) unit granted under the Plan that entitles the Participant to receive an amount
of cash equal to the Fair Market Value of one Unit upon vesting of the Phantom Unit; however, the Committee, in its discretion, may elect to pay such vested Phantom Unit with a Unit in lieu of cash. 

“Replacement Award” means an Award granted pursuant to Section 6(g). 

“Restricted Period” means the period established by the Committee with respect to an Award during which the Award is not
transferable, remains subject to forfeiture and is either not exercisable by or payable to the Participant, as the case may be. 

“Restricted Unit” means a Unit granted under the Plan that is subject to a Restricted Period. 

“Rule 16b-3” means Rule 16b-3 promulgated by the SEC under the Exchange Act, or any successor rule or regulation thereto
as in effect from time to time. 
 “SEC” means the Securities and Exchange Commission, or any successor
thereto. 

  
 3 

 “Unit” means a Common Unit of the Partnership. 

“UAR” or “Unit Appreciation Right” means an Award that, upon exercise, entitles the holder to receive
the excess of the Fair Market Value of a Unit on the exercise date over the exercise price established for such Unit Appreciation Right. Such excess may be paid in cash, Units or any combination thereof, as determined by the Committee in its
discretion. 
 “Unit Award” means the grant of a Unit that is not subject to a Restricted Period. 

“UDR” or “Unit Distribution Right” means a right to receive distributions made by the Partnership with
respect to a Restricted Unit. 
 (b) Construction. In this Plan, unless a clear contrary intention appears: (i) the
gender of all words used in this Plan includes the masculine, feminine and neuter; (ii) the singular forms of nouns, pronouns and verbs shall include the plural and vice versa; (iii) all references to Articles and Sections refer to
articles and sections in this Plan, each of which is made a part for all purposes; (iv) the terms “include” and “includes” mean “includes, without limitation,” and “including” means
“including, without limitation,”; (v) all Article and Section headings in this Plan are for convenience only and shall not be deemed to control or affect the meaning or construction of any of the provisions hereof; and (vi) the
words “hereof,” “herein” and “hereunder” and words of similar import, when used in this Plan, refer to this Plan as a whole and not to any particular provision of this Plan. 

3. Administration. 
 (a)
Governance. The Plan shall be administered by the Committee. 
 (b) Delegation. Subject to the following and
applicable law, the Committee, in its sole discretion, may delegate any or all of its powers and duties under the Plan, including the power to grant Awards under the Plan, to the Chief Executive Officer of the Company, subject to such limitations on
such delegated powers and duties as the Committee may impose, if any. Upon any such delegation, all references in the Plan to the “Committee”, other than in Section 7, shall be deemed to include the Chief Executive
Officer; provided, however, that such delegation shall not limit the Chief Executive Officer’s right to receive Awards under the Plan. Notwithstanding the foregoing, the Chief Executive Officer may not grant Awards to, or take any
action with respect to any Award previously granted to, a Person who is an officer subject to Rule 16b-3 or a member of the Board. 
 (c) Authority and Powers. Subject to the terms of the Plan and applicable law, and in addition to other express powers and authorizations conferred on the Committee by the Plan, the Committee shall
have full power and authority to: (i) designate Participants; (ii) determine the type or types of Awards to be granted to a Participant; (iii) determine the number of Units to be covered by Awards; (iv) determine the terms and
conditions of any Award; (v) determine whether, to what extent, and under what circumstances Awards may be vested, settled, exercised, canceled, or forfeited; (vi) interpret and administer the Plan and any instrument or agreement

  
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relating to an Award made under the Plan; (vii) establish, amend, suspend, or waive such rules and regulations and appoint such agents as it shall deem appropriate for the proper
administration of the Plan; and (viii) make any other determination and take any other action that the Committee deems necessary or desirable for the administration of the Plan. The Committee may correct any defect, supply any omission or
reconcile any inconsistency in the Plan or an Award Agreement in such manner and to such extent as the Committee deems necessary or appropriate. Unless otherwise expressly provided in the Plan, all designations, determinations, interpretations, and
other decisions under or with respect to the Plan or any Award shall be within the sole discretion of the Committee, may be made at any time and shall be final, conclusive, and binding upon all Persons, including the Company, the Partnership, any
Affiliate, any Participant, and any beneficiary of any Participant. 
 4. Units. 

(a) Limits on Units Deliverable. Subject to adjustment as provided in Section 4(c), the number of Units that may be
delivered with respect to Awards under the Plan may not exceed 1,175,352 Units; provided, however, if any Award (including Restricted Units) is terminated, cancelled, forfeited or expires for any reason without the actual delivery of
Units covered by such Award or Units are withheld from an Award to satisfy the exercise price or the employer’s tax withholding obligation with respect to such Award, such Units shall again be available for delivery pursuant to other Awards
granted under the Plan. Notwithstanding the foregoing, (i) there shall not be any limitation on the number of Awards that may be granted under the Plan and paid in cash, and (ii) any Units allocated to an Award shall, to the extent such
Award is paid in cash, be again available for delivery under the Plan with respect to other Awards. 
 (b) Sources of Units
Deliverable Under Awards. Any Units delivered pursuant to an Award shall consist, in whole or in part, of Units acquired in the open market or from any Affiliate, the Partnership or any other Person, or any combination of the foregoing, as
determined by the Committee in its sole discretion. 
 (c) Anti-Dilution Adjustments. With respect to any “equity
restructuring” event that could result in an additional compensation expense to the Company or the Partnership pursuant to the provisions of Statement of Financial Accounting Standards No. 123 (“FAS 123R”) if adjustments
to Awards with respect to such event were discretionary, the Committee shall equitably adjust the number and type of Units covered by each outstanding Award and the terms and conditions, including the exercise price and performance criteria (if
any), of such Award to equitably reflect such restructuring event and shall adjust the number and type of Units (or other securities or property) with respect to which Awards may be granted after such event. With respect to any other similar event
that would not result in a FAS 123R accounting charge if the adjustment to Awards with respect to such event were subject to discretionary action, the Committee shall have complete discretion to adjust Awards in such manner as it deems appropriate
with respect to such other event. In the event the Committee makes any adjustment pursuant to the foregoing provisions of this Section 4(c), the Committee shall make a corresponding and proportionate adjustment with respect to the
maximum number of Units that may be delivered with respect to Awards under the Plan as provided in Section 4(a) and the kind 

  
 5 

 
of Units or other securities available for grant under the Plan. Notwithstanding the foregoing, the Committee shall not take any action otherwise authorized under this Section 4(c) to
the extent that such action would cause the application of Section 409A of the Code to the Award or create adverse tax consequences under Section 409A of the Code should that Code section apply to the Award. 

5. Eligibility. Any Employee, Consultant or Director shall be eligible to be designated a Participant by the Committee and receive any number of
Awards under the Plan. 
 6. Awards. 
 (a) Options. The Committee shall have the authority to determine the Employees, Consultants and Directors to whom Options shall be granted, the number of Units to be covered by each Option, whether
DERS are granted with respect to such Option, and the conditions and limitations applicable to the exercise of such Option, including the following terms and conditions and such additional terms and conditions, as the Committee shall determine, that
are not inconsistent with the provisions of the Plan. 
 (i) Exercise Price. The exercise price per Unit
under an Option shall be determined by the Committee at the time the Option is granted and, except with respect to a Replacement Award, may not be less than its Fair Market Value as of the date of grant. 

(ii) Time and Method of Exercise. The Committee shall determine (A) the time or times at which an Option may
be exercised in whole or in part, which may include accelerated vesting upon the achievement of specified performance goals or other events, and (B) in its discretion the method or methods by which payment of the exercise price with respect
thereto may be made or deemed to have been made, which may include cash, check acceptable to the Company, a “cashless-broker” exercise through a program approved by the Company, with the consent of the Company, the withholding of Units
that would otherwise be delivered to the Participant upon the exercise of the Option, or the tender of other securities or other property (including previously acquired Units), or any combination thereof, having a Fair Market Value on the exercise
date equal to the relevant exercise price. 
 (iii) Forfeitures. Except as otherwise provided in the terms
of the Award Agreement, upon termination of a Participant’s employment or consulting with the Company, the Partnership and their Affiliates or membership as a Director, whichever is applicable, for any reason during the applicable Restricted
Period, all Options shall be forfeited by the Participant. The Committee may, in its discretion, waive in whole or in part such forfeiture with respect to a Participant’s Options. 

(iv) DERs. To the extent provided by the Committee, in its discretion, a grant of Options may include a tandem DER
grant, which may provide that such DERs shall be 

  
 6 

 
paid directly to the Participant, be credited to a bookkeeping account (with or without interest in the discretion of the Committee) subject to the same vesting restrictions as the tandem Award,
or be subject to such other provisions or restrictions as determined by the Committee in its discretion. Absent any provision to the contrary with regard to the DERs in the Award Agreement, DERs shall be subject to the same vesting restrictions as
apply to the Options with respect to which they were granted. Further, as required by Section 409A of the Code, DERs granted in tandem with Options shall not be directly or indirectly contingent on the exercise of the Options with respect to
which they were granted. Settlement of DERs, if any, granted in tandem with Options shall comply with Section 6(h)(viii). 
 (b) UARs. The Committee shall have the authority to determine the Employees, Consultants and Directors to whom Unit Appreciation Rights shall be granted, the number of Units to be covered by each
grant, whether DERs are granted with respect to such Unit Appreciation Right, the exercise price therefor and the conditions and limitations applicable to the exercise of the Unit Appreciation Right, including the following terms and conditions and
such additional terms and conditions, as the Committee shall determine, that are not inconsistent with the provisions of the Plan. 
 (i) Exercise Price. The exercise price per Unit Appreciation Right shall be determined by the Committee at the time the Unit Appreciation Right is granted but may not be less than the Fair Market
Value of a Unit as of the date of grant. 
 (ii) Time of Exercise. The Committee shall determine the
Restricted Period, i.e., the time or times at which a Unit Appreciation Right may be exercised in whole or in part, which may include accelerated vesting upon the achievement of specified performance goals. 

(iii) Forfeitures. Except as otherwise provided in the terms of the Award Agreement, upon termination of a
Participant’s employment or consulting with the Company and its Affiliates or membership as a Director, whichever is applicable, for any reason during the applicable Restricted Period, all outstanding Unit Appreciation Rights awarded to the
Participant shall be automatically forfeited on such termination. The Committee may, in its discretion, waive in whole or in part such forfeiture with respect to a Participant’s Unit Appreciation Rights. 

(iv) Unit Appreciation Right DERs. To the extent provided by the Committee, in its discretion, a grant of Unit
Appreciation Rights may include a tandem DER grant, which may provide that such DERs shall be paid directly to the Participant, be credited to a bookkeeping account (with or without interest in the discretion of the Committee) subject to the same
vesting restrictions as the tandem Unit Appreciation Rights Award, or be subject to such other provisions or restrictions as determined by the Committee in its discretion. Absent any provision to the contrary with regard to the DERs in the Award
Agreement, DERs shall be subject to the same vesting restrictions as apply to the Unit Appreciation Rights with respect to which they were granted. Further, as required by Section 409A of the Code, DERs granted in tandem with UARs shall not be
directly or indirectly contingent on the exercise of the UARs with respect to which they were granted. Settlement of DERs, if any, granted in tandem with UARs shall comply with Section 6(h)(viii). 

  
 7 

 (c) Phantom Units. The Committee shall have the authority to determine the Employees,
Consultants, and Directors to whom Phantom Units shall be granted, the number of Phantom Units to be granted to each such Participant, the Restricted Period, the time or conditions under which the Phantom Units may become vested or forfeited, which
may include the accelerated vesting upon the achievement of specified performance goals or other events, and such other terms and conditions as the Committee may establish with respect to such Awards, including whether DERs are granted with respect
to such Phantom Units. 
 (i) DERs. To the extent provided by the Committee in its discretion, a grant of
Phantom Units may include a tandem DER grant, which provides that such DERs shall be credited to a bookkeeping account (without interest) and shall be paid to the Participant in cash upon the vesting of the tandem Phantom Unit. However, the
Committee, in its discretion, may provide such other terms, including different vesting and payment forms and mediums and the “investment” of such DERs in additional Phantom Units, as it may choose with respect to DERs and may also provide
that a grant of Phantom Units does not include tandem DERs. Absent any provision to the contrary in the Award Agreement, any DERs granted in tandem with UARs shall be subject to the same vesting restrictions as the UARs so granted. Settlement of
DERs, if any, granted in tandem with Phantom Units shall comply with Section 6(h)(viii). 
 (ii)
Forfeitures. Except as otherwise provided in the terms of the Award Agreement, upon termination of a Participant’s employment or consulting arrangement with the Company, the Partnership and their Affiliates or membership as a Director,
whichever is applicable, for any reason during the applicable Restricted Period, all outstanding Phantom Units awarded to the Participant, and any outstanding tandem DERs credited to such Participant, shall be automatically forfeited on such
termination. The Committee may, in its discretion, waive in whole or in part such forfeiture with respect to a Participant’s Phantom Units and tandem DERs. 

(iii) Lapse of Restrictions. Upon or as soon as reasonably practicable following the vesting of
each Phantom Unit, subject to the provisions of Section 8(b), the Participant shall be entitled to settlement of such Phantom Unit by receiving from the Company cash equal to the Fair Market Value of one Unit as of the date on which the
Restricted Period ends by vesting; however, the Committee, in its discretion, may elect to pay such vested Phantom Unit in the form of one Unit in lieu of cash. In all events, settlement shall be made no later than the 15th day of the
3rd calendar month following the date on which the
Restricted Period ends by vesting. 
 (d) Restricted Units. The Committee shall have the authority to determine the
Employees, Consultants and Directors to whom Restricted Units shall be granted, the number of Restricted Units to be granted to each such Participant, the Restricted Period, the conditions under which the Restricted Units may become vested or
forfeited, which may include the accelerated vesting upon the achievement of specified performance goals or other events, and such other terms and conditions as the Committee may establish with respect to such Awards. 

  
 8 

 (i) UDRs. To the extent provided by the Committee, in its discretion,
a grant of Restricted Units may provide that distributions made by the Partnership with respect to the Restricted Units shall be subject to such forfeiture and other restrictions as the Committee may choose and, if so restricted, such distributions
shall be held, without interest, until the UDR vests or is forfeited. In addition, the Committee may provide that such distributions be used to acquire additional Restricted Units for the Participant. Such additional Restricted Units may be subject
to such vesting and other terms as the Committee may prescribe. Absent such a restriction on the UDRs in the Award Agreement, UDRs shall be paid to the holder of the Restricted Unit without restriction. Settlement of UDRs, if any, granted in tandem
with Restricted Units shall comply with Section 6(h)(viii). 
 (ii) Forfeitures. Except as
otherwise provided in the terms of the Award Agreement, upon termination of a Participant’s employment or consulting with the Company, the Partnership and their Affiliates or membership as a Director, whichever is applicable, for any reason
during the applicable Restricted Period, all outstanding unvested Restricted Units awarded the Participant, and any unpaid UDRs credited to the Participant, shall be automatically forfeited on such termination. The Committee may, in its discretion,
waive in whole or in part such forfeitures with respect to a Participant’s Restricted Units and UDRs. 

(iii) Lapse of Restrictions. Upon or as soon as reasonably practical following the vesting of each Restricted Unit,
subject to the provisions of Section 8(b), the Participant shall be entitled to have the restrictions removed from his or her Unit certificate so that the Participant then holds an unrestricted Unit. 

(e) Unit Awards. Unit Awards may be granted under the Plan to such Employees, Consultants and Directors and in such amounts as the
Committee, in its discretion, may select. 
 (f) Other Unit-Based Awards. Other Unit-Based Awards may
be granted under the Plan to such Employees, Consultants and Directors as the Committee, in its discretion, may select. An Other Unit-Based Award shall be an award denominated or payable in, valued in or otherwise based on or related to Units, in
whole or in part, and shall include unrestricted Units paid in lieu of any bonus or incentive compensation otherwise payable in cash. The Committee shall determine the terms and conditions, if any, of any such Other Unit-Based Award. Upon or as soon
as reasonably practicable following vesting, an Other Unit-Based Award may be settled, as determined by the Committee in its discretion, in cash, Units (including Restricted Units) or any combination thereof as determined by the Committee, in its
discretion. In all events, settlement shall be made no later than the 15th day of the
3rd calendar month following the date on which the
Restricted Period ends by vesting. 
 (g) Replacement Awards. Awards may be granted under the Plan in substitution or
replacement for similar equity awards cancelled or forfeited by Employees, Consultants and Directors as a result of a merger or acquisition by the Partnership or an Affiliate of an entity or the assets of an entity. Such Replacement Awards may have
such terms and conditions as the Committee may determine and the exercise price of an Option may be less than the Fair Market Value of a Unit on the date of such substitution or replacement. Notwithstanding the foregoing,

  
 9 

 
Replacement Awards may not be granted to the extent that such grant would cause the application of Section 409A of the Code to the Award or create adverse tax consequences under
Section 409A of the Code should that Code section apply to the Award. 
 (h) General. 

(i) Awards May Be Granted Separately or Together. Awards may, in the discretion of the Committee, be granted either
alone or in addition to, in tandem with, or in substitution for any other Award granted under the Plan or any award granted under any other plan of the Company, the Partnership or any Affiliate. No Award shall be issued in tandem with another Award
if the tandem Awards would result in adverse tax consequences under Section 409A of the Code. Awards granted in addition to or in tandem with other Awards or awards granted under any other plan of the Company, the Partnership or any Affiliate
may be granted either at the same time as or at a different time from the grant of such other Awards or awards. 

(ii) Limits on Transfer of Awards. 

(A) Except as provided in Section 6(h)(ii)(C), each Option and Unit Appreciation Right shall be exercisable
only by the Participant during the Participant’s lifetime, or by the Person to whom the Participant’s rights shall pass by will or the laws of descent and distribution. 

(B) Except as provided in Section 6(h)(ii)(C), no Award and no right under any such Award may be assigned,
alienated, pledged, attached, sold or otherwise transferred or encumbered by a Participant and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company, the
Partnership or any Affiliate. 
 (C) To the extent specifically provided by the Committee with respect to an
Award, an Award may be transferred by a Participant without consideration to immediate family members or related family trusts, limited partnerships or similar entities on such terms and conditions as the Committee may from time to time establish.

 (iii) Term of Awards. The term of each Award shall be for such period as may be determined by the
Committee, but shall not exceed 10 years. 
 (iv) Issuance of Units. The Units purchased or delivered
pursuant to an Award may be evidenced in any manner deemed appropriate by the Committee in its sole discretion, including in the form of a certificate issued in the name of the Participant or by book entry, electronic or otherwise, subject to such
stop transfer orders and other restrictions as the Committee may deem advisable under the Plan or the rules, regulations, and other requirements of the SEC, any stock exchange upon which such Units or other securities are then listed, and any
applicable federal or state laws, and the Committee may cause a legend or legends to be inscribed on any certificates to make appropriate reference to such restrictions. 

  
 10 

 (v) Consideration for Grants. Awards may be granted for such
consideration, including services, as the Committee determines. 
 (vi) Delivery of Units or Other Securities
and Payment by Participant of Consideration. Notwithstanding anything in the Plan or any Award Agreement to the contrary, if the Company is not reasonably able to obtain Units to deliver pursuant to such Award without violating the rules or
regulations of any applicable law or securities exchange, no delivery shall occur until such time as the Committee, in good faith, determines that the delivery of Units may be made without violating applicable law or the applicable rules or
regulations of any governmental agency or securities exchange. No Units or other securities shall be delivered pursuant to any Award until payment in full of any amount required to be paid pursuant to the Plan or the applicable Award Agreement
(including any exercise price or tax withholding) is received by the Company. 
 (vii) Change of Control,
Similar Events. Upon the occurrence of a Change of Control, a recapitalization, reorganization, merger, consolidation, combination, exchange or other relevant change in capitalization of or involving the Partnership, any change in applicable law
or regulation affecting the Plan or Awards thereunder, or any change in accounting principles affecting the financial statements of the Partnership, the Committee, in its sole discretion, without the consent of any Participant or holder of an Award,
and on such terms and conditions as it deems appropriate, may take any one or more of the following actions in order to either prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan or an
outstanding Award or mitigate any unfavorable accounting consequences: 
 (A) provide for either (1) the
cancellation and termination of any Award in exchange for an amount of cash, other property or securities, if any, equal to the amount that would have been attained upon the exercise of such Award or realization of the Participant’s rights or
if the Participant were a unitholder on the occurrence of such event (and, for the avoidance of doubt, if as of the date of the occurrence of such transaction or event the Committee determines in good faith that no amount would have been attained
upon the exercise of such Award or realization of the Participant’s rights, then such Award may be terminated by the Company without payment) or (2) the replacement of such Award with or the conversion of such Award into cash or other
securities with other rights or property selected by the Committee in its sole discretion; 
 (B) provide that
such Award be assumed by the successor or survivor entity, or a parent or subsidiary thereof, or be exchanged for similar options, rights or awards covering the equity of the successor or survivor, or a parent or subsidiary thereof, with appropriate
adjustments as to the number and kind of equity interests and prices; 
 (C) make adjustments in the number and
type of Units (or other securities or property) subject to outstanding Awards, and in the number and kind of outstanding Awards or in the terms and conditions of (including the exercise price), and the vesting and performance criteria included in,
outstanding Awards, or both; 

  
 11 

 (D) provide that such Award shall be exercisable or payable, notwithstanding
anything to the contrary in the Plan or the applicable Award Agreement; and 
 (E) provide that the Award cannot
be exercised or become payable after such event, i.e., that it shall terminate upon such event. 
 ; provided,
however, that notwithstanding the foregoing, with respect to an above event that is an “equity restructuring” event that would be subject to a compensation expense pursuant FAS 123R if a discretionary change were made, the
provisions in Section 4(c) shall control to the extent they are in conflict with the discretionary provisions of this Section 6; and provided further, however, that, notwithstanding the foregoing, the Committee
shall have no discretion under this Section 6(h)(vii) to modify the time at which a payment related to an award that provides for the deferral of compensation within the meaning of Section 409A of the Code shall be made to any
Participant except that, upon a Change in Control that constitutes change in the ownership or effective control of the Partnership or in the ownership of a substantial portion of the assets of the Partnership (both as defined for purposes of
Section 409A of the Code), all such awards shall become immediately payable, to the extent then vested, unless and to the extent the Committee specifically provides to the contrary in the applicable Award Agreement. 

(viii) Payment of DERs and UDRs. Except as otherwise provided in the Award Agreement, DERs and
UDRs that are not subject to a Restricted Period (whether because the DERs or UDRs were originally granted without restrictions or the Restricted Period ended by vesting) shall be currently paid to the Participant at the time of the distribution are
made to unitholders. Except as otherwise provided in the Award Agreement, to the extent DERs or UDRs are subject to a Restricted Period, such amounts shall be paid to the Participant in a single lump sum no later than the 15th day of the
3rd calendar month following the date on which the
Restricted Period ends by vesting. 
 7. Amendment and Termination. Except to the extent prohibited by applicable law: 

(a) Amendments to the Plan. Except as required by the rules of the principal securities exchange or inter-dealer quotation system
on which the Units are traded or listed, by the Code or by the Exchange Act or other applicable law, and subject to Section 7(b), the Board or the Committee may amend, alter, suspend, discontinue, or terminate the Plan in any manner,
including increasing the number of Units available for Awards under the Plan, without the consent of any Partner, Participant, other holder or beneficiary of an Award, or any other Person. Notwithstanding the foregoing, no amendment, alteration,
suspension, discontinuance, or termination of the Plan will modify the time at which a payment related to an award that provides for the deferral of compensation within the meaning of Section 409A of the Code shall be made to any Participant
except to the extent such a modification is permitted by, and in compliance with, Section 409A and the applicable guidance issued thereunder. 

  
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 (b) Amendments to Awards. Subject to Section 7(a), the Committee may
waive any conditions or rights under, amend any terms of, or alter any Award theretofore granted, provided no change, other than pursuant to Section 6(h)(vii) or, as determined by the Committee, in its sole discretion, as being necessary
or appropriate to comply with applicable law in any Award shall materially reduce the benefit of a Participant without the consent of such Participant. Notwithstanding the foregoing, if the terms of an Award would result in the imposition of the
additional tax under Section 409A of the Code, the Award will be reformed, if possible, to avoid imposition of such tax in a manner that will result in the least adverse economic impact on the Participant and, for purposes of the Plan, such
reformation shall be deemed not to reduce the Participant’s rights thereunder and shall not require the Participant’s consent. 
 8.
General Provisions. 
 (a) No Rights to Award. No Person shall have any claim to be granted any Award under the
Plan, and there is no obligation for uniformity of treatment of Participants. The terms and conditions of Awards need not be the same with respect to each Participant. 
 (b) Tax Withholding. Unless other arrangements have been made that are acceptable to the Company, the Company or any Affiliate is authorized to withhold from any Award, from any payment due or
transfer made under any Award or from any compensation or other amount owing to a Participant the amount (in cash, Units, other securities or property, or Units that would otherwise be issued or delivered pursuant to such Award) of any applicable
taxes payable in respect of the grant or settlement of an Award, its exercise, the lapse of restrictions thereon, or any payment or transfer under an Award or under the Plan and to take such other action as may be necessary in the opinion of the
Company to satisfy its withholding obligations for the payment of such taxes. 
 (c) No Right to Employment or Services.
The grant of an Award shall not be construed as giving a Participant the right to be retained in the employ of the Company, the Partnership or any Affiliate or to remain a Director or continue to provide services as a Consultant, as applicable.
Further, the Company, the Partnership or an Affiliate may at any time dismiss a Participant from employment or services, free from any liability or any claim under the Plan, unless otherwise expressly provided in the Plan or in any Award Agreement
or other agreement. 
 (d) Governing Law. The validity, construction, and effect of the Plan and any rules and
regulations relating to the Plan shall be determined in accordance with the laws of the State of Delaware without regard to its conflicts of laws principles. 
 (e) Compliance with Section 409A of the Code. Nothing in the Plan or any Award Agreement shall operate or be construed to cause the Plan or an Award, to the extent subject to
Section 409A, to fail to comply with the requirements of Section 409A of the Code. With respect 

  
 13 

 
to any Award that is subject to Section 409A of the Code, the applicable provisions of Section 409A the Code and the regulations thereunder are hereby incorporated by reference and
shall control over any provision of the Plan or any Award Agreement that is in conflict therewith. For purposes of such compliance, in the event that an Award that is subject to Section 409A of the Code is payable in connection with a
Participant’s termination of service as an Employee, Consultant or Director, such payments shall be made only in connection with a “separation from service” within the meaning of Section 409A of the Code and the regulations
thereunder (a “Separation from Service”) and the provisions of the Plan (including the adjustment provisions of Section 4(c), Section 6(g) and Section 6(h)(vii)) shall be applied in a manner
consistent with the requirements of Section 409A. Further, notwithstanding anything to the contrary in this Plan, in the event an Award issued under the Plan is subject to Section 409A of the Code, if upon a Participant’s Separation
from Service, the Participant is a “specified employee” within the meaning of Section 409A of the Code, and the deferral of any amounts or benefits otherwise payable or to be provided under any Award made pursuant to this Plan as a
result of the Participant’s Separation from Service is necessary in order to prevent any accelerated or additional tax to the Participant under Section 409A of the Code, then the Company will delay the payment of any such amounts or the
provision of any such benefits hereunder until the earliest of (x) the date that is six (6) months following the date of the Participant’s Separation from Service and (y) the date of the Participant’s death following such
Separation from Service. Upon the expiration of the applicable deferral period, any delayed amounts will be paid to the Participant in a single lump sum, with interest from the date otherwise payable, at the prime rate as published in The Wall
Street Journal on the Participant’s Separation from Service, and any delayed benefits will be provided on such date. 
 (f)
Severability. If any provision of the Plan or any Award is or becomes or is deemed to be invalid, illegal, or unenforceable in any jurisdiction or as to any Person or Award, or would disqualify the Plan or any Award under any law deemed
applicable by the Committee, such provision shall be construed or deemed amended to conform to the applicable laws, or if it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of the
Plan or the Award, such provision shall be stricken as to such jurisdiction, Person or Award and the remainder of the Plan and any such Award shall remain in full force and effect. 

(g) Other Laws. The Committee may refuse to issue or transfer any Units or other consideration under an Award if, in its sole
discretion, it determines that the issuance or transfer of such Units or such other consideration might violate any applicable law or regulation, the rules of the principal securities exchange on which the Units are then traded, or result in
recoverable short-swing profits under Section 16(b) of the Exchange Act, and any payment tendered to the Company by a Participant, other holder or beneficiary in connection with the exercise of such Award shall be promptly refunded to the
relevant Participant, holder or beneficiary. 
 (h) No Trust or Fund Created. Neither the Plan nor any Award shall create
or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company or any participating Affiliate and a Participant or any other Person. To the extent that any Person acquires a right to receive payments
from the Company or any participating Affiliate pursuant to an Award, such right shall be no greater than the right of any general unsecured creditor of the Company or any participating Affiliate. 

  
 14 

 (i) No Fractional Units. No fractional Units shall be issued or delivered pursuant to
the Plan or any Award, and the Committee shall determine, in its sole discretion, whether cash, other securities, or other property shall be paid or transferred in lieu of any fractional Units or whether such fractional Units or any rights thereto
shall be canceled, terminated, or otherwise eliminated, with or without consideration. 
 (j) Facility Payment. Any
amounts payable hereunder to any Person under legal disability or who, in the judgment of the Committee, is unable to properly manage his or her financial affairs, may be paid to the legal representative of such Person, or may be applied for the
benefit of such Person in any manner that the Committee may select, and the Company shall be relieved of any further liability for payment of such amounts. 
 (k) No Guarantee of Tax Consequences. None of the Board, the Partnership, nor the Committee makes any commitment or guarantee that any federal, state or local tax treatment will apply or be
available to any person participating or eligible to participate hereunder. 
 9. Term of the Plan. The Plan shall become effective on
the date of its approval by the Board and shall terminate on, and no Awards may be granted after, the earliest of (a) the date established by the Board or the Committee, (b) the 10th anniversary of the date the Plan was adopted by the
Company (or such earlier anniversary, if any, required by the rules of the exchange on which Units are traded) or (c) the date Units are no longer available for delivery pursuant to Awards under the Plan. Unless otherwise expressly provided in
the Plan or in an applicable Award Agreement, any Award granted prior to any Plan termination, and the authority of the Board or the Committee to amend, alter, adjust, suspend, discontinue, or terminate any such Award or to waive any conditions or
rights under such Award, shall extend beyond such termination date. 
 [SIGNATURE ON NEXT PAGE] 

  
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 IN WITNESS WHEREOF, the Company has caused this instrument to be executed as of
July 11, 2012 by the undersigned officer of the Company. 
  

	
	American Midstream GP, LLC
	
	 /s/ Brian Bierbach

	Brian Bierbach
	Chief Executive Officer

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