Document:

EX-10.10

 Exhibit 10.10 

Form of 
 AGREEMENT OF
LIMITED PARTNERSHIP 
 of 

CONE MIDSTREAM DEVCO III LP 

Dated Effective as of 

July 11, 2014 

 TABLE OF CONTENTS 

 

							
	 	    	 	  	Page	 
		
	 ARTICLE I Definitions and Construction
	  	 	3	 
			
	 Section 1.1
	    	 Definitions
	  	 	3	 
	 Section 1.2
	    	 Construction
	  	 	11	 
		
	 ARTICLE II Business, Purpose and Term of Partnership
	  	 	11	 
			
	 Section 2.1
	    	 Formation
	  	 	11	 
	 Section 2.2
	    	 Name
	  	 	11	 
	 Section 2.3
	    	 Registered Office; Registered Agent; Principal Office; Other Offices
	  	 	12	 
	 Section 2.4
	    	 Purpose and Business
	  	 	12	 
	 Section 2.5
	    	 Powers
	  	 	12	 
	 Section 2.6
	    	 Term
	  	 	12	 
	 Section 2.7
	    	 Title to Partnership Assets
	  	 	13	 
		
	 ARTICLE III Partners
	  	 	13	 
			
	 Section 3.1
	    	 Partners; Percentage Interests
	  	 	13	 
	 Section 3.2
	    	 Adjustments in Percentage Interests
	  	 	13	 
	 Section 3.3
	    	 Limitation of Liability
	  	 	13	 
		
	 ARTICLE IV Capital Contributions
	  	 	13	 
			
	 Section 4.1
	    	 Capitalization of the Partnership
	  	 	13	 
	 Section 4.2
	    	 Capital Contributions
	  	 	14	 
	 Section 4.3
	    	 Withdrawal of Capital; Interest
	  	 	14	 
	 Section 4.4
	    	 Capital Contribution Events
	  	 	14	 
	 Section 4.5
	    	 Failure to Contribute
	  	 	15	 
		
	 ARTICLE V Allocations and Other Tax Matters
	  	 	16	 
			
	 Section 5.1
	    	 Profits
	  	 	16	 
	 Section 5.2
	    	 Losses
	  	 	16	 
	 Section 5.3
	    	 Special Allocations
	  	 	16	 
	 Section 5.4
	    	 Curative Allocations
	  	 	18	 
	 Section 5.5
	    	 Other Allocation Rules
	  	 	18	 
	 Section 5.6
	    	 Tax Allocations: Code Section 704(c)
	  	 	18	 
	 Section 5.7
	    	 Tax Elections
	  	 	19	 
	 Section 5.8
	    	 Tax Returns
	  	 	19	 
	 Section 5.9
	    	 Tax Matters Partner
	  	 	20	 
	 Section 5.10
	    	 Duties of Tax Matters Partner
	  	 	20	 
	 Section 5.11
	    	 Survival of Provisions
	  	 	21	 
		
	 ARTICLE VI Distributions
	  	 	22	 
			
	 Section 6.1
	    	 Distributions of Distributable Cash
	  	 	22	 
	 Section 6.2
	    	 Liquidating Distributions
	  	 	22	 
	 Section 6.3
	    	 Distribution in Kind
	  	 	22	 

							
		
	 ARTICLE VII Books and Records
	  	 	22	 
			
	 Section 7.1
	    	 Books and Records; Examination
	  	 	22	 
	 Section 7.2
	    	 Reports
	  	 	22	 
		
	 ARTICLE VIII Management and Voting
	  	 	23	 
			
	 Section 8.1
	    	 Management
	  	 	23	 
	 Section 8.2
	    	 Matters Constituting Unanimous Approval Matters
	  	 	23	 
	 Section 8.3
	    	 Meetings and Voting
	  	 	24	 
	 Section 8.4
	    	 Reliance by Third Parties
	  	 	25	 
		
	 ARTICLE IX Transfer of Partnership Interests
	  	 	25	 
			
	 Section 9.1
	    	 Restrictions on Transfers
	  	 	25	 
	 Section 9.2
	    	 Conditions for Admission
	  	 	25	 
	 Section 9.3
	    	 Allocations and Distributions
	  	 	26	 
	 Section 9.4
	    	 Restriction on Resignation or Withdrawal
	  	 	26	 
		
	 ARTICLE X Liability, Exculpation and Indemnification
	  	 	26	 
			
	 Section 10.1
	    	 Liability for Partnership Obligations
	  	 	26	 
	 Section 10.2
	    	 Disclaimer of Duties and Exculpation
	  	 	26	 
	 Section 10.3
	    	 Indemnification
	  	 	27	 
		
	 ARTICLE XI Conflicts of Interest
	  	 	28	 
			
	 Section 11.1
	    	 Transactions with Affiliates
	  	 	28	 
	 Section 11.2
	    	 Outside Activities
	  	 	28	 
		
	 ARTICLE XII Dissolution and Termination
	  	 	28	 
			
	 Section 12.1
	    	 Dissolution
	  	 	28	 
	 Section 12.2
	    	 Winding Up of Partnership
	  	 	29	 
	 Section 12.3
	    	 Compliance with Certain Requirements of Regulations; Deficit Capital Accounts
	  	 	29	 
	 Section 12.4
	    	 Deemed Distribution and Recontribution
	  	 	30	 
	 Section 12.5
	    	 Distribution of Property
	  	 	30	 
	 Section 12.6
	    	 Termination of Partnership
	  	 	30	 
		
	 ARTICLE XIII Miscellaneous
	  	 	30	 
			
	 Section 13.1
	    	 Notices
	  	 	30	 
	 Section 13.2
	    	 Integration
	  	 	30	 
	 Section 13.3
	    	 Assignment
	  	 	30	 
	 Section 13.4
	    	 Parties in Interest
	  	 	31	 
	 Section 13.5
	    	 Counterparts
	  	 	31	 
	 Section 13.6
	    	 Amendment; Waiver
	  	 	31	 
	 Section 13.7
	    	 Severability
	  	 	31	 
	 Section 13.8
	    	 Governing Law
	  	 	31	 
	 Section 13.9
	    	 No Bill for Accounting
	  	 	31	 
	 Section 13.10
	    	 Waiver of Partition
	  	 	31	 
	 Section 13.11
	    	 Third Parties
	  	 	32	 

  
 ii 

 Agreement of Limited Partnership 

of 
 CONE Midstream
DevCo III LP 
 This Agreement of Limited Partnership of CONE Midstream DevCo III LP (the “Partnership”),
effective as of July 11, 2014 (the “Effective Date”), is entered into by and between CONE Midstream DevCo III GP LLC, a Delaware limited liability company (the “DevCo III GP”), and CONE
Gathering LLC, a Delaware limited liability company (“CONE Gathering”). In consideration of the covenants, conditions and agreements contained herein, the parties hereto hereby agree as follows: 

ARTICLE I 
 DEFINITIONS
AND CONSTRUCTION 
 Section 1.1 Definitions. The following terms have the following meanings when used in this
Agreement. 
 “Act” means the Delaware Revised Uniform Limited Partnership Act, 6 Del. C. § 17-101 et
seq., as amended, supplemented or restated from time to time, and any successor to such statute. 
 “Adjusted Capital
Account” means, with respect to any Partner, the balance in such Partner’s Capital Account as of the end of the relevant Allocation Year, after giving effect to the following adjustments: 

(i) Credit to such Capital Account any amounts which such Partner is deemed obligated to restore pursuant to the penultimate
sentences of Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5); and 
 (ii) Debit to such Capital Account the items
described in Regulations Sections 1.704-1(b)(2)(ii)(d)(4), 1.704-1(b)(2)(ii)(d)(5) and 1.704-1(b)(2)(ii)(d)(6). 
 The foregoing definition of Adjusted
Capital Account is intended to comply with the provisions of Regulations Section 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith. 

“Adjusted Capital Account Deficit” means, with respect to any Partner, the deficit balance, if any, in such
Partner’s Adjusted Capital Account as of the end of the relevant Allocation Year. 
 “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. 

 “Agreement” means this Agreement of Limited Partnership of CONE Midstream
DevCo III LP, as amended from time to time. 
 “Allocation Year” means (a) each calendar year ending on
December 31st or (b) any portion thereof for which the Partnership is required to allocate Profits, Losses and other items of Partnership income, gain, loss or deduction pursuant to Article V. 

“Annual Plan” means the annual operating and capital expenditure budget and business plan established by the General
Partner for the Partnership. 
 “Applicable Law” means any applicable statute, law, regulation, ordinance, rule,
judgment, rule of law, order, decree, permit, approval, concession, grant, franchise, license, agreement, requirement or other governmental restriction or any similar form of decision of, or any provision or condition of any permit, license or other
operating authorization issued under any of the foregoing by or any determination by any Governmental Authority having or asserting jurisdiction over the matter or matters in question, whether now or hereafter in effect and in each case as amended
(including all of the terms and provisions of the common law of such Governmental Authority), as interpreted and enforced at the time in question. 

“Call Notice” has the meaning set forth in Section 4.4(a). 

“Capital Account” means, with respect to any Partner, the Capital Account established and maintained for such Partner
in accordance with the following provisions: 
 (i) To each Partner’s Capital Account there shall be credited
(A) such Partner’s Capital Contributions, (B) such Partner’s distributive share of Profits and any items in the nature of income or gain that are specially allocated to such Partner pursuant to Section 5.3 or
Section 5.4 and (C) the amount of any Liabilities of the Partnership assumed by such Partner or that are secured by any Property distributed to such Partner; 

(ii) To each Partner’s Capital Account there shall be debited (A) the amount of cash and the Gross Asset Value of any
Partnership Property distributed to such Partner pursuant to any provision of this Agreement, (B) such Partner’s distributive share of Losses and any items in the nature of deduction, expense or loss which are specially allocated to such
Partner pursuant to Section 5.3 or Section 5.4 and (C) the amount of any Liabilities of such Partner assumed by the Partnership or that are secured by any Property contributed by such Partner to the Partnership; 

(iii) In the event a Partnership Interest is transferred in accordance with the terms of this Agreement, the transferee shall
succeed to the Capital Account of the transferor to the extent it relates to the transferred interest; and 
 (iv) In
determining the amount of any Liability for purposes of subparagraphs (i) and (ii) above there shall be taken into account Code Section 752(c) and any other applicable provisions of the Code and Regulations. 

  
 4 

 The foregoing provisions and the other provisions of this Agreement relating to the maintenance of Capital
Accounts are intended to comply with Regulations Section 1.704-1(b) and shall be interpreted and applied in a manner consistent with such Regulations. In the event the Tax Matters Partner shall determine in good faith and on a commercially
reasonable basis that it is prudent to modify the manner in which the Capital Accounts, or any debits or credits thereto, are computed in order to comply with such Regulations, the Tax Matters Partner may make such modification; provided that
the Tax Matters Partner shall promptly give each other Partner written notice of such modification. The Tax Matters Partner also shall, in good faith and on a commercially reasonable basis, (A) make any adjustments to the Capital Accounts that
are necessary or appropriate to maintain equality between the aggregate Capital Accounts of the Partners and the amount of capital reflected on the Partnership’s balance sheet, as computed for book purposes, in accordance with Regulations
Section 1.704-1(b)(2)(iv)(q) and (B) make any appropriate modifications to the Capital Accounts in the event unanticipated events might otherwise cause this Agreement not to comply with Regulations Section 1.704-1(b). 

“Capital Contributions” means, with respect to any Partner, (i) the amount of cash, cash equivalents or the
initial Gross Asset Value of any Property (other than cash) contributed or deemed contributed to the Partnership by such Partner or (ii) current distributions that a Partner is entitled to receive but otherwise waives. 

“Capital Lease” means any lease of (or other arrangement conveying the right to use) real or personal property, or a
combination thereof, which obligations are required to be classified and accounted for as a capital lease on a consolidated balance sheet of the Partnership and its subsidiaries in accordance with GAAP. 

“Certificate” means the certificate of limited partnership of the Partnership filed in accordance with the Act. 

“Code” means the Internal Revenue Code of 1986, as amended and in effect from time to time. Any reference herein to a
specific section or sections of the Code shall be deemed to include a reference to any corresponding provision of any successor law. 

“CONE Gathering” has the meaning set forth in the Preamble. 

“CONE Midstream Partners” means CONE Midstream Partners LP, a Delaware limited partnership. 

“Covered Person” means any Partner, any Affiliate of a Partner or any officers, directors, shareholders, members,
partners, employees, representatives or agents of a Partner or their respective Affiliates, any Representative, or any employee, officer or agent of the Partnership or its Subsidiaries. 

“Default Interest Amount” has the meaning set forth in Section 4.5(c). 

“Default Interest Rate” means the lesser of (a) eight percent (8%) per annum and (b) the maximum rate
of interest permitted by Applicable Law. 

  
 5 

 “Delinquent Partner” has the meaning set forth in
Section 4.5(a). 
 “Depreciation” means, for each Allocation Year, an amount equal to the depreciation,
amortization or other cost recovery deduction allowable with respect to an asset for such Allocation Year for federal income tax purposes, except that (i) if the Gross Asset Value of an asset differs from its adjusted tax basis for federal income
tax purposes at the beginning of such Allocation Year and such difference is being eliminated by use of the “remedial allocation method” as defined in Regulations Section 1.704-3(d), Depreciation for such Allocation Year shall equal the
amount of book basis recovered for such period under the rules prescribed in Regulations Section 1.704-3(d) and (ii) with respect to any other asset whose Gross Asset Value differs from its adjusted tax basis for federal income tax purposes at the
beginning of such Allocation Year, Depreciation shall be an amount that bears the same ratio to such beginning Gross Asset Value as the federal income tax depreciation, amortization or other cost recovery deduction for such Allocation Year bears to
such beginning adjusted tax basis; provided, however, that if the adjusted basis for federal income tax purposes of an asset at the beginning of such Allocation Year is zero, Depreciation shall be determined with reference to such beginning
Gross Asset Value using any reasonable method selected by the General Partner. 
 “DevCo III GP” has the meaning set
forth in the Preamble. 
 “Distributable Cash” means, with respect to any Quarter: (i) the sum of all cash and
cash equivalents of the Partnership and its Subsidiaries on hand at the end of such Quarter; less (ii) the amount of any cash reserves established by the General Partner to (A) provide for the proper conduct of the business of the
Partnership and its Subsidiaries (including reserves for future capital or operating expenditures and for anticipated future credit needs of the Partnership and its Subsidiaries) subsequent to such Quarter; or (B) comply with Applicable Law or
any loan agreement, security agreement, mortgage, debt instrument or other agreement or obligation to which the Partnership or any of its Subsidiaries is a party or by which any of them is bound or any of their respective assets are subject. 

“Effective Date” has the meaning set forth in the Preamble. 

“Fiscal Year” means a calendar year. 

“GAAP” means generally accepted accounting principles in the United States. 

“General Partner” means DevCo III GP and its successors and permitted assigns that are admitted to the Partnership as
general partner and any additional general partner of the Partnership, each in its capacity as general partner of the Partnership. 

“General Partner Interest” means the equity interest of the General Partner in the Partnership (in its capacity as a
general partner without reference to any Limited Partner Interest held by it) and includes any and all rights, powers and benefits to which the General Partner is entitled as provided in this Agreement, together with all obligations of the General
Partner to comply with the terms and provisions of this Agreement. 
 “Governmental Authority” means any federal,
state, local or foreign government or any provincial, departmental or other political subdivision thereof, or any entity, body or authority exercising executive, legislative, judicial, regulatory, administrative or other governmental functions or
any court, department, commission, board, bureau, agency, instrumentality or administrative body of any of the foregoing. 

  
 6 

 “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 any Property
contributed by a Partner to the Partnership shall be the gross fair market value of such asset as agreed to by each Partner or, in the absence of any such agreement, as determined by the General Partner; 

(ii) The Gross Asset Values of all items of Property shall be adjusted to equal their respective fair market values as
determined by the General Partner as of the following times: (A) the acquisition of an additional interest in the Partnership by any new or existing Partner in exchange for more than a de minimis Capital Contribution, (B) the distribution by
the Partnership to a Partner of more than a de minimis amount of Property as consideration for an interest in the Partnership, (C) the issuance of additional Partnership Interests as consideration for the provision of services, (D) the
liquidation of the Partnership within the meaning of Regulations Section 1.704-1(b)(2)(ii)(g) (other than pursuant to Section 708(b)(1)(B) of the Code), (E) the issuance of a Noncompensatory Option, or (F) any other event to the extent
determined by the Partners to be necessary to properly reflect the Gross Asset Values in accordance with the standards set forth in Regulations Section 1.704-1(b)(2)(iv)(q); provided, however, that in the event of the issuance of
an interest in the Partnership pursuant to the exercise of a Noncompensatory Option where the right to share in Partnership capital represented by the Partnership interest differs from the consideration paid to acquire and exercise the
Noncompensatory Option, the Gross Asset Value of each Partnership asset immediately after the issuance of the Partnership interest shall be adjusted upward or downward to reflect any unrealized gain or unrealized loss attributable to the Partnership
asset and the Capital Accounts of the Partners shall be adjusted in a manner consistent with Regulations Section 1.704-1(b)(2)(iv)(s); and provided further, however, if any Noncompensatory Options are outstanding upon the occurrence of
an event described in this paragraph (ii)(A) through (ii)(F), the Partnership shall adjust the Gross Asset Values of its properties in accordance with Treasury Regulations Sections 1.704-1(b)(2)(iv)(f)(1) and 1.704-1(b)(2)(iv)(h)(2); 

(iii) The Gross Asset Value of any item of Property distributed to any Partner shall be adjusted to equal the fair market value
of such item on the date of distribution as determined by the General Partner; and 
 (iv) The Gross Asset Value of each item
of Property shall be increased (or decreased) to reflect any adjustments to the adjusted basis of such assets pursuant to Code Sections 734(b) or 743(b), but only to the extent that such adjustments are taken into account in determining Capital
Accounts pursuant to Regulations Section 1.704-1(b)(2)(iv)(m) and subparagraph (vi) of the definition of Profits and Losses; provided, however, that Gross Asset Values shall not be adjusted pursuant to this
subparagraph (iv) to the extent that an adjustment pursuant to subparagraph (ii) is required in connection with a transaction that would otherwise result in an adjustment pursuant to this subparagraph (iv).

 If the Gross Asset Value of an asset has been determined or adjusted pursuant to subparagraph (i), subparagraph (ii) or
subparagraph (iv), 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. 

“Guarantees” by any Person means any obligation, contingent or otherwise, of such Person directly or indirectly
guaranteeing any Indebtedness or other obligation of any other Person or in any manner providing for the payment of any Indebtedness or other obligation of any other Person or otherwise protecting the holder of such Indebtedness or other obligations
against loss (whether arising by virtue of organizational agreements, by obtaining letters of credit, by agreement to keep-well, to take-or-pay or to purchase assets, goods, securities or services, or otherwise); provided that the term
“Guarantee” shall not include endorsements for collection or deposit in the ordinary course of business. 

“Indebtedness” of any Person means, without duplication, (i) all obligations of such Person for borrowed money or
with respect to deposits or advances of any kind, (ii) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (iii) all 

  
 7 

 
obligations of such Person upon which interest charges are customarily paid, (iv) all obligations of such Person under conditional sale or other title retention agreements relating to
property or assets purchased by such Person, (v) all obligations of such Person issued or assumed as the deferred purchase price of property or services (excluding trade accounts payable, trade advertising and accrued obligations),
(vi) all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any lien on property owned or acquired by such Person, whether or not the obligations
secured thereby have been assumed, (vii) all Guarantees by such Person of Indebtedness of others, (viii) all Capital Lease obligations of such Person, (ix) all obligations of such Person in respect of interest rate protection
agreements, foreign currency exchange agreements or other interest rate hedging arrangements and (x) all obligations of such Person as an account party in respect of letters of credit and bankers’ acceptances. The Indebtedness of any
Person shall include the Indebtedness of any partnership in which such Person is a general partner, other than to the extent that the instrument or agreement evidencing such Indebtedness expressly limits the Liability of such Person in respect
thereof. 
 “IPO Date” means the date of the closing of the initial public offering of common units representing
limited partner interests in CONE Midstream Partners. 
 “Liability” means any Indebtedness, obligation or other
liability, whether arising under Applicable Law, contract or otherwise, known or unknown, fixed or contingent, real or potential, tangible or intangible, now existing or hereafter arising. 

“Limited Partner” means CONE Gathering and its successors and permitted assigns that are admitted as a limited partner
of the Partnership and each additional Person who becomes a limited partner of the Partnership pursuant to the terms of this Agreement, in each case, in such Person’s capacity as a limited partner of the Partnership. 

“Limited Partner Interest” means an equity interest of a Limited Partner in the Partnership (in its capacity as a
limited partner without reference to any General Partner Interest held by it) and includes any and all benefits to which such Limited Partner is entitled as provided in this Agreement, together with all obligations of such Limited Partner pursuant
to the terms and provisions of this Agreement. 
 “Make-Up Contribution” has the meaning set forth in
Section 4.5(c). 
 “Minimum Gain” has the meaning set forth in Regulations Sections 1.704-2(b)(2) and
1.704-2(d). 
 “NDP Amount” has the meaning set forth in Section 4.5(b). 

“Noncompensatory Option” has the meaning set forth in Regulations Section 1.721-2(f). 

“Nonrecourse Deductions” has the meaning set forth in Regulations Section 1.704-2(b)(1) and 1.704-2(c). 

“Nonrecourse Liability” has the meaning set forth in Regulations Section 1.704-2(b)(3). 

“Partner” means a General Partner or a Limited Partner. 

  
 8 

 “Partner Nonrecourse Debt” has the meaning set forth in Regulations
Section 1.704-2(b)(4). 
 “Partner Nonrecourse Debt Minimum Gain” means an amount, with respect to each Partner
Nonrecourse Debt, equal to the Minimum Gain that would result if such Partner Nonrecourse Debt were treated as a Nonrecourse Liability, determined in accordance with Regulations Section 1.704-2(i)(3). 

“Partner Nonrecourse Deductions” has the meaning set forth in Regulations Sections 1.704-2(i)(1) and 1.704-2(i)(2).

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

“Partnership Interest” means any equity interest, including any class or series of equity interest, in
the Partnership, which shall include any Limited Partner Interests and the General Partner Interest. 
 “Percentage
Interests” has the meaning set forth in Section 3.1. 
 “Person” means an individual or a
corporation, firm, limited liability company, partnership, joint venture, trust, estate, unincorporated organization, association, Governmental Authority or political subdivision thereof or other entity. 

“Profits” and “Losses” mean, for each Allocation Year, an amount equal to the
Partnership’s taxable income or loss for such Allocation Year, determined in accordance with Code Section 703(a) (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Code
Section 703(a)(1) shall be included in taxable income or loss), with the following adjustments (without duplication): 

(i) The Partnership shall be treated as owning directly its proportionate share (as determined by the General Partner) of any
other partnership, limited liability company, unincorporated business or other entity classified as a partnership or disregarded entity for U.S. federal income tax purposes of which the Partnership is, directly or indirectly, a partner, member or
other equity-holder; 
 (ii) Any income of the Partnership that is exempt from federal income tax and not otherwise taken
into account in computing Profits or Losses pursuant to this definition of Profits and Losses shall be added to such taxable income or loss; 

(iii) Any expenditures of the Partnership described in Code Section 705(a)(2)(B) or treated as Code
Section 705(a)(2)(B) expenditures pursuant to Regulations Section 1.704-1(b)(2)(iv)(i), and not otherwise taken into account in computing Profits or Losses pursuant to this definition of Profits and Losses, shall be subtracted from such
taxable income or loss; 
 (iv) In the event the Gross Asset Value of any item of Property is adjusted pursuant to
subparagraph (ii) or subparagraph (iii) of the definition of Gross Asset Value, the amount of such adjustment shall be treated as an item of gain (if the adjustment 

  
 9 

 
increases the Gross Asset Value of the item of Property) or an item of loss (if the adjustment decreases the Gross Asset Value of the item of Property) from the disposition of such asset and
shall be taken into account for purposes of computing Profits or Losses; 
 (v) Gain or loss resulting from any disposition
of any Property 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 item of Property disposed of, notwithstanding that the adjusted tax basis of such
Property differs from its Gross Asset Value; 
 (vi) In lieu of the depreciation, amortization and other cost recovery
deductions taken into account in computing such taxable income or loss, there shall be taken into account Depreciation for such Allocation Year, computed in accordance with the definition of Depreciation; 

(vii) To the extent an adjustment to the adjusted tax basis of any item of Property pursuant to Code Sections 734(b) or
743(b) is required, pursuant to Regulations Section 1.704-1(b)(2)(iv)(m)(4), to be taken into account in determining Capital Accounts as a result of a distribution other than in liquidation of a Partner’s Partnership Interest, the amount
of such adjustment shall be treated as an item of gain (if the adjustment increases the basis of the item of Property) or loss (if the adjustment decreases such basis) from the disposition of such item of Property and shall be taken into account for
purposes of computing Profits or Losses; and 
 (viii) Notwithstanding any other provision of this definition, any items that
are specially allocated pursuant to Section 5.3 or Section 5.4 shall not be taken into account in computing Profits or Losses. 

The amounts of the items of Partnership income, gain, loss or deduction available to be specially allocated pursuant to Section 5.3 and
Section 5.4 shall be determined by applying rules analogous to those set forth in subparagraph (i) through subparagraph (viii) above. For the avoidance of doubt, any guaranteed payment that accrues with respect to
an Allocation Year will be treated as an item of deduction of the Partnership for purposes of computing Profits and Losses in accordance with the provisions of Regulations Section 1.707-1(c). 

“Property” means all real and personal property acquired by the Partnership, including cash, and any improvements
thereto, and shall include both tangible and intangible property. 
 “Quarter” means, unless the context requires
otherwise, a fiscal quarter of the Partnership or, with respect to the fiscal quarter of the Partnership which includes the IPO Date, the portion of such fiscal quarter from and after the IPO Date. 

“Regulations” means the Income Tax Regulations, including Temporary Regulations, promulgated under the Code, as such
regulations are amended from time to time. 
 “Regulatory Allocations” has the meaning set forth in
Section 5.4. 
 “Representative” has the meaning set forth in Section 8.3(a). 

  
 10 

 “Required Contribution” has the meaning set forth in
Section 4.4(a). 
 “Subsidiary” means, with respect to any Person, (a) a corporation of which more
than 50% of the voting power of shares entitled (without regard to the occurrence of any contingency) to vote in the election of directors or other governing body of such corporation is owned, directly or indirectly, at the date of determination, by
such Person, by one or more Subsidiaries of such Person or a combination thereof, (b) a partnership (whether general or limited) in which such Person or a Subsidiary of such Person is, at the date of determination, a general or limited partner
of such partnership, but only if more than 50% of the general partner interests of such partnership is owned, directly or indirectly, at the date of determination, by such Person, by one or more Subsidiaries of such Person or a combination thereof
or (c) any other Person (other than a corporation or a partnership) in which such Person, one or more Subsidiaries of such Person, or a combination thereof, directly or indirectly, at the date of determination, has (i) at least a majority
ownership interest or (ii) the power to elect or direct the election of a majority of the directors or other governing body of such Person. 

“Tax Matters Partner” has the meaning set forth in Section 5.9(a). 

“Unanimous Approval Matter” has the meaning set forth in Section 8.2. 

Section 1.2 Construction. Unless the context requires otherwise: (a) any pronoun used in this Agreement shall include
the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural and vice versa; (b) references to Articles and Sections refer to Articles and Sections of this Agreement;
(c) the terms “include,” “includes,” “including” or words of like import shall be deemed to be followed by the words “without limitation” and (d) the terms “hereof,” “herein” or
“hereunder” refer to this Agreement as a whole and not to any particular provision of this Agreement. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of
this Agreement. The General Partner has the power to construe and interpret this Agreement and to act upon any such construction or interpretation. To the fullest extent permitted by law, any construction or interpretation of this Agreement by the
General Partner, any action taken pursuant thereto and any determination made by the General Partner in good faith shall, in each case, be conclusive and binding on all Limited Partners, each other Person who acquires an interest in a Partnership
Interest and all other Persons for all purposes. 
 ARTICLE II 

BUSINESS, PURPOSE AND TERM OF PARTNERSHIP 

Section 2.1 Formation. The Partnership was formed as a limited partnership by the filing of the Certificate with the
Secretary of State of the State of Delaware pursuant to the provisions of the Act. Except as expressly provided in this Agreement, the rights, duties, liabilities and obligations of the Partners and the administration, dissolution and termination of
the Partnership shall be governed by the Act. All Partnership Interests shall constitute personal property of the owner thereof for all purposes. 

Section 2.2 Name. The name of the Partnership shall be “CONE Midstream DevCo III LP”. Subject to Applicable Law,
the Partnership’s business may be conducted under any 

  
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other name or names as determined by the General Partner, including the name of the General Partner. The words “Limited Partnership,” “L.P.,” “Ltd.” or similar words
or letters shall be included in the Partnership’s name where necessary for the purpose of complying with the laws of any jurisdiction that so requires. The General Partner may change the name of the Partnership at any time and from time to time
and shall notify the Limited Partners of such change in the next regular communication to the Limited Partners. 
 Section 2.3
Registered Office; Registered Agent; Principal Office; Other Offices. Unless and until changed by the General Partner, the registered office of the Partnership in the State of Delaware shall be located at 1209 Orange Street, Wilmington, New
Castle County, Delaware 19801, and the registered agent for service of process on the Partnership in the State of Delaware at such registered office shall be The Corporation Trust Company. The principal office of the Partnership shall be located at
1000 CONSOL Energy Drive, Canonsburg, Pennsylvania 15317, or such other place as the General Partner may from time to time designate by notice to the Limited Partners. The Partnership may maintain offices at such other place or places within or
outside the State of Delaware as the General Partner determines to be necessary or appropriate. The address of the General Partner shall be 1000 CONSOL Energy Drive, Canonsburg, Pennsylvania 15317, or such other place as the General Partner may from
time to time designate by notice to the Limited Partners. 
 Section 2.4 Purpose and Business. The purpose and nature of
the business to be conducted by the Partnership shall be to (a) engage directly in, or enter into or form, hold and dispose of any corporation, partnership, joint venture, limited liability company or other arrangement to engage indirectly in,
any business activity that is approved by the General Partner and that lawfully may be conducted by a limited partnership organized pursuant to the Act and, in connection therewith, to exercise all of the rights and powers conferred upon the
Partnership pursuant to the agreements relating to such business activity and (b) do anything necessary or appropriate in furtherance of the foregoing; provided, however, that the General Partner shall not cause the Partnership to
engage, directly or indirectly, in any business activity that the General Partner determines would be reasonably likely to cause the Partnership to be treated as an association taxable as a corporation or otherwise taxable as an entity for federal
income tax purposes. To the fullest extent permitted by law, the General Partner shall have no duty or obligation to propose or approve the conduct by the Partnership of any business and may decline to do so free of any fiduciary duty or obligation
whatsoever to the Partnership or any Limited Partner and, in declining to so propose or approve, shall not be required to act in good faith or pursuant to any other standard imposed by this Agreement or any other law, rule or regulation or at
equity, and the General Partner in determining whether to propose or approve the conduct by the Partnership of any business shall be permitted to do so in its sole and absolute discretion. 

Section 2.5 Powers. The Partnership shall be empowered to do any and all acts and things necessary, appropriate, proper,
advisable, incidental to or convenient for the furtherance and accomplishment of the purposes and business described in Section 2.4 and for the protection and benefit of the Partnership. 

Section 2.6 Term. The term of the Partnership commenced upon the filing of the Certificate in accordance with the Act and
shall continue until the dissolution of the Partnership in accordance with the provisions of Article XII. The existence of the Partnership as a separate legal entity shall continue until the cancellation of the Certificate as provided in
the Act. 

  
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 Section 2.7 Title to Partnership Assets. Title to Partnership assets, whether
real, personal or mixed and whether tangible or intangible, shall be deemed to be owned by the Partnership as an entity, and no Partner, individually or collectively, shall have any ownership interest in such Partnership assets or any portion
thereof. Title to any or all of the Partnership assets may be held in the name of the Partnership, the General Partner, one or more Affiliates of the General Partner or one or more nominees of the General Partner or its Affiliates, as the General
Partner may determine. The General Partner hereby declares and warrants that any Partnership assets for which record title is held in the name of the General Partner or one or more Affiliates of the General Partner or one or more nominees of the
General Partner or its Affiliates shall be held by the General Partner or such Affiliate or nominee for the use and benefit of the Partnership in accordance with the provisions of this Agreement; provided, however, that the General Partner
shall use reasonable efforts to cause record title to such assets (other than those assets in respect of which the General Partner determines that the expense and difficulty of conveyancing makes transfer of record title to the Partnership
impracticable) to be vested in the Partnership or one or more of the Partnership’s designated Affiliates as soon as reasonably practicable; provided, further, that, prior to the withdrawal or removal of the General Partner or as soon
thereafter as practicable, the General Partner shall use reasonable efforts to effect the transfer of record title to the Partnership and, prior to any such transfer, will provide for the use of such assets in a manner satisfactory to any successor
General Partner. All Partnership assets shall be recorded as the property of the Partnership in its books and records, irrespective of the name in which record title to such Partnership assets is held. 

ARTICLE III 
 PARTNERS

 Section 3.1 Partners; Percentage Interests. The names and addresses of the Partners, their respective percentage
interests in the Partnership (“Percentage Interests”), and type of Partnership Interest held by each Partner are set forth on Exhibit A to this Agreement. 

Section 3.2 Adjustments in Percentage Interests. The respective Percentage Interests of the Partners shall be adjusted
(a) at the time of any transfer of all or a portion of such Partner’s Partnership Interest pursuant to Section 9.1, (b) at the time of the issuance of additional Partnership Interests pursuant to Section 8.2(b)
and (c) at the time of the admission of each new Partner in accordance with this Agreement, in each case to take into account such transfer, issuance or admission of a new Partner. 

Section 3.3 Limitation of Liability. The Limited Partners shall have no liability under this Agreement except as expressly
provided in this Agreement or the Act. 
 ARTICLE IV 

CAPITAL CONTRIBUTIONS 

Section 4.1 Capitalization of the Partnership. Subject to Section 8.2, the Partnership is authorized to issue
two classes of Partnership Interests. The Partnership Interests shall be designated as General Partner Interests and Limited Partner Interests, each having such rights, powers, preferences and designations as set forth in this Agreement. 

  
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 Section 4.2 Capital Contributions. 

(a) Organizational Capital Contributions. In connection with the formation of the Partnership under the Act, DevCo III GP made an
initial Capital Contribution to the Partnership in the amount of $50.00 for a 5% General Partner Interest and has been admitted as the General Partner of the Partnership, and CONE Gathering made an initial Capital Contribution to the Partnership in
the amount of $950.00 for a 95% Limited Partner Interest and has been admitted as a Limited Partner of the Partnership. 
 (b)
Additional Capital Contributions. The Partners shall make additional Capital Contributions to the Partnership at such times and in such amounts as determined by the Partners in accordance with this Agreement. 

Section 4.3 Withdrawal of Capital; Interest. No Partner may withdraw capital or receive any distributions from the
Partnership except as specifically provided herein. No interest shall accrue or be payable by the Partnership on any Capital Contributions. 

Section 4.4 Capital Contribution Events. 

(a) Notwithstanding anything in Section 4.2(b) to the contrary, whenever the General Partner determines in good faith that
additional Capital Contributions in cash from the Partners are necessary to fund the Partnership’s Annual Plan or otherwise fund its operations, the General Partner may issue a notice to each Partner (a “Call Notice”)
for an additional Capital Contribution by each Partner (a “Required Contribution”) in an amount equal to such Partner’s pro rata portion (based on the Percentage Interests of the Partners) of the aggregate
additional Capital Contribution determined to be necessary by the General Partner not less than fifteen (15) days prior to the date the General Partner determines such additional Capital Contributions shall be made by the Partners. 

(b) All Call Notices shall be expressed in U.S. dollars and shall state the date on which payment is due and the bank(s) or account(s) to
which payment is to be made. Each Call Notice shall specify in reasonable detail the purpose(s) for which such Required Contribution is required and the amount of the Required Contribution to be made by each Partner pursuant to such Call Notice.
Each Partner shall contribute its Required Contribution within five (5) Business Days of the date of delivery of the relevant Call Notice. The Partnership shall use the proceeds of such Required Contributions exclusively for the purpose
specified in the relevant Call Notice. 

  
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 Section 4.5 Failure to Contribute. 

(a) If a Partner fails to contribute all or any portion of a Required Contribution that such Partner (a “Delinquent
Partner”) is required to make as provided in this Agreement, then, while such Partner is a Delinquent Partner, each non-Delinquent Partner may (but shall have no obligation to) elect to fund all or any portion of the Delinquent
Partner’s Required Contribution as a Capital Contribution pursuant to this Section 4.5. If a non-Delinquent Partner so desires to fund such amount, such non-Delinquent Partner shall so notify each of the other non-Delinquent
Partners, who shall have five (5) days thereafter to elect to participate in such funding. 
 (b) The portion that each participating
non-Delinquent Partner may fund as a Capital Contribution pursuant to this Section 4.5 (the “NDP Amount”) shall be equal to the product of (x) the delinquent amount of such Required Contribution multiplied by
(y) a fraction, the numerator of which shall be the Percentage Interest then held by such participating non-Delinquent Partner and the denominator of which shall be the aggregate Percentage Interest held by all such participating non-Delinquent
Partners; provided, that if any participating non-Delinquent Partner elects to fund less than its full allocation of such amount, the fully participating non-Delinquent Partners shall be entitled to take up such shortfall (allocated, as
necessary, based on their respective Percentage Interests). Upon such funding as a Capital Contribution, the Partnership Interest and Percentage Interest of each Partner shall be appropriately adjusted to reflect all such funding (based on total
Capital Contributions). 
 (c) Notwithstanding anything in this Section 4.5 to the contrary, the Delinquent Partner may cure
such delinquency (i) by contributing its Required Contribution prior to the Capital Contribution being made by another Partner or (ii) on or before the sixtieth (60th) day following the date that the participating non-Delinquent
Partner(s) satisfied the Required Contribution, by making a Capital Contribution to the Partnership in an amount equal to the Required Contribution (a “Make-Up Contribution”) and paying to each participating non-Delinquent
Partner an amount equal to its respective NDP Amount multiplied by the Default Interest Rate for the period from the date such participating non-Delinquent Partner funded its NDP Amount to the date that the Delinquent Partner makes its Make-Up
Contribution (the “Default Interest Amount”). If a Delinquent Partner cures its delinquency pursuant to Section 4.5(c)(ii) by making a Make-Up Contribution and paying the Default Interest Amount, then
(A) first, the Partnership shall distribute to each existing Partner that is a participating non-Delinquent Partner the NDP Amount that such participating non-Delinquent Partner funded pursuant to Section 4.5(b), (B) second,
the respective Capital Accounts and Percentage Interests of the Partners shall be adjusted with all necessary increases or decreases to return the Partners’ Capital Accounts and Percentage Interests status quo ante application of
Section 4.5(b) and (C) third, the Percentage Interest and Partnership Interests of each Partner shall be appropriately adjusted to reflect the Make-Up Contribution (based on total Capital Contributions). If the delinquency is
remedied (i) by the Delinquent Partner making its Required Contribution pursuant to this Section 4.5(c) or (ii) or Make-Up Contribution by funding by the non-Delinquent Partner(s) as a Capital Contribution pursuant to Section 4.6(b),
the Delinquent Partner shall no longer be deemed to be a Delinquent Partner with respect to the unfunded Required Contribution. 

  
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 ARTICLE V 

ALLOCATIONS AND OTHER TAX MATTERS 

Section 5.1 Profits. After giving effect to the special allocations set forth in Section 5.3 and
Section 5.4, and any allocation of Profits set forth in Section 5.3(b), Profits for any Allocation Year shall be allocated among the Partners in proportion to their respective Percentage Interests. 

Section 5.2 Losses. 

(a) After giving effect to the special allocations set forth in Section 5.3 and Section 5.4, Losses for any Allocation
Year shall be allocated among the Partners in proportion to their respective Percentage Interests. 
 (b) The Losses allocated pursuant to
Section 5.2(a) shall not exceed the maximum amount of Losses that can be so allocated without causing any Partner to have an Adjusted Capital Account Deficit at the end of any Allocation Year. In the event some but not all of the
Partners would have Adjusted Capital Account Deficits as a result of an allocation of Losses pursuant to Section 5.2(a), Losses that would otherwise be allocated to a Partner pursuant to Section 5.2(a) but for the limitation
set forth in this Section 5.2(b) shall be allocated to the remaining Partners in proportion to their relative Percentage Interests. All remaining Losses in excess of the limitation set forth in this Section 5.2(b) shall be
allocated to the General Partner. Profits for any Allocation Year subsequent to an Allocation Year for which the limitation set forth in this Section 5.2(b) was applicable shall be allocated (i) first, to reverse any Losses
allocated to the General Partner pursuant to the third sentence of this Section 5.2(b) and (ii) second, to reverse any Losses allocated to the Partners pursuant to the second sentence of this Section 5.2(b) and in
proportion to how such Losses were allocated. 
 Section 5.3 Special Allocations. The following special allocations shall
be made in the following order: 
 (a) Minimum Gain Chargeback. Except as otherwise provided in Regulations Section 1.704-2(f),
notwithstanding any other provision of this Article V, if there is a net decrease in Minimum Gain during any Allocation Year, each Partner shall be specially allocated items of Partnership income and gain for such Allocation Year (and, if
necessary, subsequent Allocation Years) in an amount equal to such Partner’s share of the net decrease in Minimum Gain, determined in accordance with Regulations Section 1.704-2(g). Allocations pursuant to the previous sentence shall be
made in proportion to the respective amounts required to be allocated to each Partner pursuant thereto. The items to be so allocated shall be determined in accordance with Regulations Sections 1.704-2(f)(6) and 1.704-2(g)(2). This
Section 5.3(a) is intended to comply with the minimum gain chargeback requirement in Regulations Section 1.704-2(f) and shall be interpreted consistently therewith. 

(b) Partner Minimum Gain Chargeback. Except as otherwise provided in Regulations Section 1.704-2(i)(4), notwithstanding any other
provision of this Article V, if there is a net decrease in Partner Nonrecourse Debt Minimum Gain attributable to a Partner Nonrecourse Debt during any Allocation Year, each Partner who has a share of the Partner Nonrecourse Debt

  
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Minimum Gain attributable to such Partner Nonrecourse Debt, determined in accordance with Regulations Section 1.704-2(i)(5), shall be specially allocated items of Partnership income and gain
for such Allocation Year (and, if necessary, subsequent Allocation Years) in an amount equal to such Partner’s share of the net decrease in Partner Nonrecourse Debt Minimum Gain attributable to such Partner Nonrecourse Debt, determined in
accordance with Regulations Section 1.704-2(i)(4). Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts required to be allocated to each Partner pursuant thereto. The items to be so allocated shall
be determined in accordance with Regulations Sections 1.704-2(i)(4) and 1.704-2(j)(2). This Section 5.3(b) is intended to comply with the minimum gain chargeback requirement in Regulations Section 1.704-2(i)(4) and shall be
interpreted consistently therewith. 
 (c) Qualified Income Offset. In the event that any Partner unexpectedly receives any
adjustments, allocations or distributions described in Regulations Sections 1.704-1(b)(2)(ii)(d)(4), 1.704-1(b)(2)(ii)(d)(5) or 1.704-1(b)(2)(ii)(d)(6), items of Partnership income and gain shall be allocated to such Partner in an amount and manner
sufficient to eliminate, to the extent required by the Regulations, the Adjusted Capital Account Deficit of such Partner as quickly as possible; provided that an allocation pursuant to this Section 5.3(c) shall be made only if and
to the extent that such Partner would have an Adjusted Capital Account Deficit after all other allocations provided for in this Article V have been tentatively made as if this Section 5.3(c) were not in this Agreement. 

(d) Gross Income Allocation. In the event that any Partner has an Adjusted Capital Account Deficit at the end of any Allocation Year,
each such Partner shall be allocated items of Partnership income and gain in the amount of such deficit as quickly as possible; provided that an allocation pursuant to this Section 5.3(d) shall be made only if and to the extent
that such Partner would have an Adjusted Capital Account Deficit after all other allocations provided for in this Article V have been tentatively made as if Section 5.3(c) and this Section 5.3(d) were not in this
Agreement. 
 (e) Nonrecourse Deductions. Nonrecourse Deductions for any Allocation Year shall be allocated among the Partner in
proportion to their respective Percentage Interests. 
 (f) Partner Nonrecourse Deductions. Any Partner Nonrecourse Deductions for
any Allocation Year shall be specially allocated to the Partner who bears the economic risk of loss with respect to the Partner Nonrecourse Debt to which such Partner Nonrecourse Deductions are attributable in accordance with Regulations
Section 1.704-2(i)(1). 
 (g) Nonrecourse Liabilities. Nonrecourse Liabilities of the Partnership described in Regulations
Section 1.752-3(a)(3) shall be allocated among the Partners in the manner chosen by the General Partner and consistent with such section of the Regulations. 

(h) Section 754 Adjustments. To the extent an adjustment to the adjusted tax basis of any Partnership asset, pursuant to Code
Section 734(b) or Code Section 743(b) is required, pursuant to Regulations Section 1.704-1(b)(2)(iv)(m)(2) or 1.704-1(b)(2)(iv)(m)(4), to be taken into account in determining Capital Accounts as the result of a distribution to a
Partner in complete liquidation of such Partner’s Partnership Interest, the amount of such adjustment to Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the

  
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asset) or loss (if the adjustment decreases such basis) and such gain or loss shall be specially allocated to the Partners in accordance with their interests in the Partnership in the event
Regulations Section 1.704-1(b)(2)(iv)(m)(2) applies, or to the Partner to whom such distribution was made in the event Regulations Section 1.704-1(b)(2)(iv)(m)(4) applies. 

Section 5.4 Curative Allocations. The allocations set forth in Section 5.3 (the “Regulatory
Allocations”) are intended to comply with certain requirements of the Regulations. It is the intent of the Partners that, to the extent possible, the Regulatory Allocations shall be offset either with special allocations of other items
of Partnership income, gain, loss or deduction pursuant to this Section 5.4. Therefore, notwithstanding any other provision of this Article V (other than the Regulatory Allocations), the Tax Matters Partner shall make such
offsetting special allocations of Partnership income, gain, loss or deduction in whatever manner it determines appropriate so that, after such offsetting allocations are made, each Partner’s Capital Account balance is, to the extent possible,
equal to the Capital Account balance such Partner would have had if the Regulatory Allocations were not part of this Agreement and all Partnership items were allocated pursuant to Section 5.1, Section 5.2 and
Section 5.3 (other than the Regulatory Allocations). In exercising its discretion under this Section 5.4, the Tax Matters Partner shall take into account future Regulatory Allocations that, although not yet made, are likely
to offset other Regulatory Allocations previously made. 
 Section 5.5 Other Allocation Rules. 

(a) Profits, Losses and any other items of income, gain, loss, or deduction shall be allocated to the Partners pursuant to this
Article V as of the last day of each Fiscal Year; provided that Profits, Losses and such other items shall also be allocated at such times as the Gross Asset Values of the Partnership’s assets are adjusted pursuant to
subparagraph (ii) of the definition of “Gross Asset Value” in Section 1.1. 
 (b) 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 proration basis by the General Partner under Code Section 706 and the Regulations thereunder. 

Section 5.6 Tax Allocations: Code Section 704(c). 

(a) Except as otherwise provided in this Section 5.6, each item of income, gain, loss and deduction of the Partnership for federal
income tax purposes shall be allocated among the Partners in the same manner as such items are allocated for book purposes under this Article V. In accordance with Code Section 704(c) and the Regulations thereunder, income, gain,
loss and deduction with respect to any Property contributed to the capital of the Partnership shall, solely for tax purposes, be allocated among the Partners so as to take account of any variation between the adjusted basis of such Property to the
Partnership for federal income tax purposes and its initial Gross Asset Value (computed in accordance with the definition of Gross Asset Value). Such allocation shall be made in accordance with the “remedial method” described by
Regulations Section 1.704-3(d). 
 (b) In the event the Gross Asset Value of any Property is adjusted pursuant to subparagraph
(ii) of the definition of Gross Asset Value, subsequent allocations of income, gain, 

  
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loss and deduction with respect to such Property shall take account of any variation between the adjusted basis of such Property for federal income tax purposes and its Gross Asset Value in the
same manner as under Code Section 704(c) and the Regulations thereunder. Such allocation shall be made in accordance with the “remedial method” described by Regulations Section 1.704-3(d). 

(c) In accordance with Treasury Regulations Sections 1.1245-1(e) and 1.250-1(f), any gain allocated to the Partners upon the sale or
other taxable disposition of any Partnership asset shall, to the extent possible, after taking into account other required allocations of gain pursuant to this Section 5.6(c), be characterized as “recapture income” in the same
proportions and to the same extent as such Partners (or their predecessors in interest) have been allocated any deductions directly or indirectly giving rise to the treatment of such gains as “recapture income.” 

(d) Any elections or other decisions relating to such allocations shall be made by the General Partner in any manner that reasonably reflects
the purpose and intention of this Agreement. Allocations pursuant to this Section 5.6 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 Partner’s
Capital Account or share of Profits, Losses, other items or distributions pursuant to any provision of this Agreement. 

Section 5.7 Tax Elections. 

(a) The Partners intend that the Partnership be treated as a partnership or a “disregarded entity” for federal income tax purposes.
Accordingly, neither the Tax Matters Partner nor any Limited Partner shall file any election or return on its own behalf or on behalf of the Partnership that is inconsistent with that intent. 

(b) The Partnership shall make the election under Code Section 754 in accordance with the applicable Regulations issued thereunder,
subject to the reservation of the right to seek to revoke any such election upon the General Partner’s determination that such revocation is in the best interests of the Partners. 

(c) Any elections or other decisions relating to tax matters that are not expressly provided herein, shall be made jointly by the Partners in
any manner that reasonably reflects the purpose and intention of this Agreement. 
 Section 5.8 Tax Returns. 

(a) The Partnership shall cause to be prepared and timely filed all federal, state, local and foreign income tax returns and reports required
to be filed by the Partnership and its subsidiaries. The Partnership shall provide copies of all the Partnership’s federal, state, local and foreign tax returns (and any schedules or other required filings related to such returns) that reflect
items of income, gain, deduction, loss or credit that flow to separate Partner returns, to the Partners for their review and comment prior to filing, except as otherwise agreed by the Partners. The Partners agree in good faith to resolve any
difference in the tax treatment of any item affecting such returns and schedules. However, if the Partners are unable to resolve the dispute, the position of the Tax Matters Partner shall be followed if nationally recognized tax counsel acceptable
to the Partners provides an opinion that substantial authority exists for such position. 

  
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Substantial authority shall be given the meaning ascribed to it for purposes of applying Code Section 6662. If the Partners are unable to resolve the dispute prior to the due date for filing
the return, including approved extensions, the position of the Tax Matters Partner shall be followed, and amended returns shall be filed if necessary at such time the dispute is resolved. The costs of the dispute shall be borne by the Partnership.
The Partners agree to file their separate federal income tax returns in a manner consistent with the Partnership’s return, the provisions of this Agreement and in accordance with Applicable Law. 

(b) The Partnership shall elect the most rapid method of depreciation and amortization allowed under Applicable Law, unless the Partners agree
otherwise. 
 (c) The Partners shall provide each other with copies of all correspondence or summaries of other communications with the
Internal Revenue Service or any state, local or foreign taxing authority (other than routine correspondence and communications) regarding the tax treatment of the Partnership’s operations. No Partner shall enter into settlement negotiations
with the Internal Revenue Service or any state, local or foreign taxing authority with respect to any issue concerning the Partnership’s income, gains, losses, deductions or credits if the tax adjustment attributable to such issue (assuming the
then current aggregate tax rate) would be $100,000 or greater, without first giving reasonable advance notice of such intended action to the other Partners. 

Section 5.9 Tax Matters Partner. 

(a) The General Partner shall be the “Tax Matters Partner” of the Partnership within the meaning of
Section 6231(a)(7) of the Code, and shall act in any similar capacity under the Applicable Law of any state, local or foreign jurisdiction, but only with respect to returns for which items of income, gain, loss, deduction or credit flow to the
separate returns of the Partners. If at any time there is more than one General Partner, the Tax Matters Partner shall be the General Partner with the largest Percentage Interest following such admission. 

(b) The Tax Matters Partner shall incur no Liability (except as a result of the gross negligence or willful misconduct of the Tax Matters
Partner) to the Partnership or the other Partners including, but not limited to, Liability for any additional taxes, interest or penalties owed by the other Partners due to adjustments of Partnership items of income, gain, loss, deduction or credit
at the Partnership level. 
 Section 5.10 Duties of Tax Matters Partner. 

(a) Except as provided in Section 5.10(b), the Tax Matters Partner shall cooperate with the other Partners and shall promptly
provide the other Partners with copies of notices or other materials from, and inform the other Partners of discussions engaged with, the Internal Revenue Service or any state, local or foreign taxing authority and shall provide the other Partners
with notice of all scheduled proceedings, including meetings with agents of the Internal Revenue Service or any state, local or foreign taxing authority, technical advice conferences, appellate hearings, and similar conferences and hearings, as soon
as possible after receiving notice of the scheduling of such proceedings, but in any case prior to the date of such scheduled proceedings. 

  
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 (b) The duties of the Tax Matters Partner under Section 5.10(a) shall not apply with
respect to notices, materials, discussions, proceedings, meetings, conferences, or hearings involving any issue concerning the Partnership’s income, gains, losses, deductions or credits if the tax adjustment attributable to such issue (assuming
the then current aggregate tax rate) would be less than $100,000 except as otherwise required under Applicable Law. 
 (c) The Tax Matters
Partner shall not extend the period of limitations or assessments without the consent of the other Partners, which consent shall not be unreasonably withheld. 

(d) The Tax Matters Partner shall not file a petition or complaint in any court, or file any claim, amended return or request for an
administrative adjustment with respect to partnership items, after any return has been filed, with respect to any issue concerning the Partnership’s income, gains, losses, deductions or credits if the tax adjustment attributable to such issue
(assuming the then current aggregate tax rate) would be $100,000 or greater, unless agreed by the other Partners. If the other Partners do not agree, the position of the Tax Matters Partner shall be followed if nationally recognized tax counsel
acceptable to all Partners issues an opinion that a reasonable basis exists for such position. Reasonable basis shall be given the meaning ascribed to it for purposes of applying Code Section 6662. The costs of the dispute shall be borne by the
Partnership. 
 (e) The Tax Matters Partner shall not enter into any settlement agreement with the Internal Revenue Service or any state,
local or foreign taxing authority, either before or after any audit of the applicable return is completed, with respect to any issue concerning the Partnership’s income, gains, losses, deductions or credits, unless any of the following apply:

 (i) all Partners agree to the settlement; 

(ii) the tax effect of the issue if resolved adversely would be, and the tax effect of settling the issue is, proportionately
the same for all Partners (assuming each otherwise has substantial taxable income); 
 (iii) the Tax Matters Partner
determines that the settlement of the issue is fair to the Partners; or 
 (iv) tax counsel acceptable to all Partners
determines that the settlement is fair to all Partners and is one it would recommend to the Partnership if all Partners were owned by the same person and each had substantial taxable income. 

In all events, the costs incurred by the Tax Matters Partner in performing its duties hereunder shall be borne by the Partnership. 

(f) The Tax Matters Partner may request extensions to file any tax return or statement without the written consent of, but shall so inform,
the other Partners. 
 Section 5.11 Survival of Provisions. The provisions of this Agreement regarding the
Partnership’s tax returns and Tax Matters Partner shall survive the termination of the Partnership and the transfer of any Partner’s interest in the Partnership and shall remain in effect for the

  
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period of time necessary to resolve any and all matters regarding the federal, state, local and foreign taxation of the Partnership and items of Partnership income, gain, loss, deduction and
credit. 
 ARTICLE VI 

DISTRIBUTIONS 

Section 6.1 Distributions of Distributable Cash. Within 40 days following the end of each Quarter commencing with the
Quarter that includes the IPO Date, the Partnership shall distribute to the Partners pro rata in accordance with their respective Percentage Interests an amount equal to 100% of Distributable Cash. Notwithstanding any other provision of this
Agreement, the Partnership shall not make a distribution to the Partners on account of their interests in the Partnership if such distribution would violate the Act or other Applicable Law. 

Section 6.2 Liquidating Distributions. Notwithstanding any other provision of this Article VI,
distributions with respect to the Quarter in which a dissolution of the Partnership occurs shall be made in accordance with Article XII. 

Section 6.3 Distribution in Kind. The Partnership shall not distribute to the Partners any assets in kind unless approved
by the Partners in accordance with this Agreement. If cash and property in kind are to be distributed simultaneously, the Partnership shall distribute such cash and property in kind in the same proportion to each Partner, unless otherwise approved
by the Partners in accordance with this Agreement. 
 ARTICLE VII 

BOOKS AND RECORDS 

Section 7.1 Books and Records; Examination. The General Partner shall keep or cause to be kept such books of account and
records with respect to the Partnership’s business as it may deem necessary and appropriate. Each Partner and its duly authorized representatives shall have the right, for any purpose reasonably related to its interest in the Partnership, at
any time to examine, or to appoint independent certified public accountants (the fees of which shall be paid by such Partner) to examine, the books, records and accounts of the Partnership and its Subsidiaries, their operations and all other matters
that such Partner may wish to examine, including all documentation relating to actual or proposed transactions between the Partnership and any Partner or any Affiliate of a Partner. The Partnership’s books of account shall be kept using the
method of accounting determined by the General Partner in its sole discretion. 
 Section 7.2 Reports. The General
Partner shall prepare and send to each Partner (at the same time) promptly such financial information of the Partnership as a Partner shall from time to time reasonably request, for any purpose reasonably related to its interest in the Partnership.
The General Partner shall, for any purpose reasonably related to a Partner’s interest in the Partnership, permit examination and audit of the Partnership’s books and records by both the internal and independent auditors of its Partners.

  
 22 

 ARTICLE VIII 

MANAGEMENT AND VOTING 

Section 8.1 Management. The General Partner shall conduct, direct and manage the business of the
Partnership. Except as otherwise expressly provided in this Agreement, all management powers over the business and affairs of the Partnership shall be exclusively vested in the General Partner, and no Limited Partner shall have any management power
over the business and affairs of the Partnership. In addition to the powers now or hereafter granted a general partner of a limited partnership under the Act or which are granted to the General Partner under any other provision of this Agreement,
the General Partner, subject to Section 8.2, shall have full power and authority to do all things on such terms as it, in its sole discretion, may deem necessary or appropriate to conduct the business of the Partnership and to effectuate
the purposes set forth in Section 2.4. The Partnership shall reimburse the General Partner, on a monthly basis or such other basis as the General Partner may determine, for all direct and indirect costs and expenses incurred by the
General Partner or payments made by the General Partner, in its capacity as the general partner of the Partnership, for and on behalf of the Partnership. 

Section 8.2 Matters Constituting Unanimous Approval Matters. Notwithstanding anything in this
Agreement to the contrary, and subject to the provisions of Section 8.3(c), each of the following matters, and only the following matters, shall constitute a “Unanimous Approval Matter” which requires the prior
approval of all of the Partners pursuant to Section 8.3(c): 
 (a) any merger, consolidation, reorganization or similar
transaction between or among the Partnership and any Person (other than a transaction between the Partnership and a direct or indirect wholly owned Subsidiary of the Partnership) or any sale or lease of all or substantially all of the
Partnership’s assets to any Person (other than a direct or indirect wholly owned Subsidiary of the Partnership); 
 (b) the creation of
any new class of Partnership Interests, the issuance of any additional Partnership Interests or the issuance of any security that is convertible into or exchangeable for a Partnership Interest; 

(c) the admission or withdrawal of any Person as a Partner other than pursuant to (i) the third sentence of Section 9.2, (ii)
Section 9.4 (iii) any transfer of Partnership Interests pursuant to Section 9.1(b), as applicable; 
 (d) the
commencement of a voluntary case with respect to the Partnership or any of its Subsidiaries under any applicable bankruptcy, insolvency or other similar Applicable Law now or hereafter in effect, or the consent to the entry of an order for relief in
an involuntary case under any such Applicable Law, or the consent to the appointment of or the taking possession by a receiver, liquidator, assignee, custodian, trustee or sequestrator (or similar official) of the Partnership or any of its
Subsidiaries or for any substantial part of the Partnership’s or any of its Subsidiaries’ property, or the making of any general assignment for the benefit of creditors; 

(e) the modification, alteration or amendment of the amount, timing, frequency or method of calculation of distributions to the Partners from
that provided in Article VI; 

  
 23 

 (f) (i) the approval of any distribution by the Partnership to the Partners of any assets in kind
(other than cash or cash equivalents), (ii) the approval of any distribution by the Partnership to the Partners of cash or property in kind on a non-pro rata basis and (iii) the determination of the value assigned to distributions of
property in kind; 
 (g) other than pursuant to Section 4.4, the making of any additional Capital Contributions to the
Partnership; and 
 (h) any other provision of this Agreement expressly requiring the approval, consent or other form of authorization of
all of the Partners. 
 Section 8.3 Meetings and Voting. 

(a) Representatives. For purposes of this Article VIII, each Partner shall be represented by a designated representative (each,
a “Representative”), who shall be appointed by, and may be removed with or without cause by, the Partner that designated such Person. Each Representative shall have the full authority to act on behalf of the Partner who
designated such Representative. To the fullest extent permitted by Applicable Law, each Representative shall be deemed the agent of the Partner that appointed him, and each Representative shall not be an agent of the Partnership or the other
Partners. The action of a Representative at a meeting of the Partners (or through a written consent) shall bind the Partner that designated that Representative, and the other Partners shall be entitled to rely upon such action without further
inquiry or investigation as to the actual authority (or lack thereof) of such Representative. 
 (b) Meetings and Voting. Meetings of
Partners shall be at such times and locations as the General Partner shall determine in its sole discretion. The General Partner shall provide notice to the Limited Partners of any meetings of Partners in any manner that it deems reasonable and
appropriate under the circumstances. The holders of a majority, by Percentage Interest, of Partnership Interests for which a meeting has been called (including Partnership Interests owned by the General Partner) represented in person or by proxy
shall constitute a quorum at a meeting of Partners unless any such action by the Partners requires approval by holders of a greater Percentage Interest, in which case the quorum shall be such greater Percentage Interest. At any meeting of the
Partners duly called and held in accordance with this Agreement at which a quorum is present, the act of Partners holding Partnership Interests that, in the aggregate, represent a majority of the Percentage Interest of those present in person or by
proxy at such meeting shall be deemed to constitute the act of all Partners, unless a greater or different percentage is required with respect to such action under the provisions of this Agreement, in which case the act of the Partners holding
Partnership Interests that in the aggregate represent at least such greater or different percentage shall be required; provided, however, that if, as a matter of law or amendment to this Agreement, approval by plurality vote of Partners is
required to approve any action, no minimum quorum shall be required. The Partners present at a duly called or held meeting at which a quorum is present may continue to transact business until adjournment, notwithstanding the withdrawal of enough
Partners to leave less than a quorum, if any action taken (other than adjournment) is approved by Partners holding the required Percentage Interest specified in this Agreement. In the absence of a quorum, any meeting of Partners may be adjourned
from time to time by the affirmative vote of Partners with at least a 

  
 24 

 
majority, by Percentage Interest, of the Partnership Interests entitled to vote at such meeting (including Partnership Interests owned by the General Partner) represented either in person or by
proxy, but no other business may be transacted. 
 (c) Unanimous Approval Matters. All Unanimous Approval Matters shall be approved
by the unanimous affirmative vote of all of the Partners. Each Partner acknowledges and agrees that all references in this Agreement to any approval, consent or other form of authorization by “all Partners,” “each of the
Partners” or similar phrases shall be deemed to mean that such approval, consent or other form of authorization shall constitute a Unanimous Approval Matter that requires the unanimous approval of all of the Partners in accordance with this
Section 8.3(c). 
 (d) Action Without a Meeting. Any action that may be taken at a meeting of the Partners may be taken
without a meeting if an approval in writing setting forth the action so taken is signed by the Partners owning not less than the minimum Percentage Interests of the Partnership Interests that would be necessary to authorize or take such action at a
meeting at which all of the Partners were present and voted. Prompt notice of the taking of action without a meeting shall be given to the Partners who have not approved such action in writing. 

Section 8.4 Reliance by Third Parties. Persons dealing with the Partnership are entitled to rely conclusively upon the
power and authority of the General Partner set forth in this Agreement. Neither a Limited Partner nor its Representative shall have the authority to bind the Partnership or any of its Subsidiaries. 

ARTICLE IX 
 TRANSFER OF
PARTNERSHIP INTERESTS 
 Section 9.1 Restrictions on Transfers. 

(a) General. Except as expressly provided by this Article IX, no Partner shall transfer all or any part of its Partnership
Interests to any Person without first obtaining the written approval of each of the other Partners, which approval may be granted or withheld in their sole discretion. 

(b) Transfer by Operation of Law. In the event a Partner shall be party to a merger, consolidation or similar business combination
transaction with another Person or sell all or substantially all its assets to another Person, such Partner may transfer all or part of its Partnership Interests to such other Person without the approval of any other Partner. 

(c) Consequences of an Unpermitted Transfer. Any transfer of a Partner’s Partnership Interest in violation of the applicable
provisions of this Agreement shall be void. 
 Section 9.2 Conditions for Admission. No transferee of all or a portion of
the Partnership Interests of any Partner shall be admitted as a Partner hereunder unless such Partnership Interests are transferred in compliance with the applicable provisions of this Agreement. Each such transferee shall have executed and
delivered to the Partnership such instruments as the General Partner deems necessary or appropriate in its sole discretion to 

  
 25 

 
effectuate the admission of such transferee as a Partner and to confirm the agreement of such transferee to be bound by all the terms and provisions of this Agreement. The admission of a
transferee shall be effective immediately prior to such transfer and, immediately following such admission, the transferor shall cease to be a Partner (to the extent it transferred its entire Partnership Interest). If the General Partner transfers
its entire General Partner Interest in the Partnership, the transferee General Partner, to the extent admitted as a substitute General Partner, is hereby authorized to, and shall, continue the Partnership without dissolution. 

Section 9.3 Allocations and Distributions. Subject to applicable Regulations, upon the transfer of all the Partnership
Interests of a Partner as herein provided, the Profit or Loss of the Partnership attributable to the Partnership Interests so transferred for the Fiscal Year in which such transfer occurs shall be allocated between the transferor and transferee as
of the effective date of the assignment, and such allocation shall be based upon any permissible method agreed to by the Partners that is provided for in Code Section 706 and the Regulations issued thereunder. 

Section 9.4 Restriction on Resignation or Withdrawal. Except in connection with a transfer permitted
pursuant to Section 9.1 or as contemplated by Section 12.1, no Partner shall withdraw from the Partnership without the consent of each of the other Partners. To the extent permitted by law, any purported withdrawal from the
Partnership in violation of this Section 9.4 shall be null and void. 
 ARTICLE X 

LIABILITY, EXCULPATION AND INDEMNIFICATION 

Section 10.1 Liability for Partnership Obligations. Except as otherwise required by the Act, the Liabilities of the
Partnership shall be solely the Liabilities of the Partnership, and no Covered Person (other than the General Partner) shall be obligated personally for any such Liability of the Partnership solely by reason of being a Covered Person. 

Section 10.2 Disclaimer of Duties and Exculpation. 

(a) Except as otherwise expressly provided in this Agreement, no Covered Person shall have any duty (fiduciary or otherwise) or obligation to
the Partnership, the Partners or to any other Person bound by this Agreement, and in taking, or refraining from taking, any action required or permitted under this Agreement or under Applicable Law, each Covered Person shall be entitled to consider
only such interests and factors as such Covered Person deems advisable, including its own interests, and need not consider any interest of or factors affecting, any other Covered Person or the Partnership notwithstanding any duty otherwise existing
at law or in equity. To the extent that a Covered Person is required or permitted under this Agreement to act in “good faith” or under another express standard, such Covered Person shall act under such express standard and shall not be
subject to any other or different standard under this Agreement or otherwise existing under Applicable Law or in equity. 
 (b) The
provisions of this Agreement, to the extent that they restrict or eliminate the duties (including fiduciary duties) and Liabilities of a Covered Person otherwise existing under Applicable Law or in equity, are agreed by the Partners to replace such
other duties and Liabilities of such Covered Person in their entirety, and no Covered Person shall be liable to the Partnership, the Partners or any other Person bound by this Agreement for its good faith reliance on the provisions of this
Agreement. 

  
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 (c) To the fullest extent permitted by law, no Covered Person shall be liable to the Partnership,
the Partners or any other Person bound by this Agreement for any cost, expense, loss, damage, claim or Liability incurred by reason of any act or omission performed or omitted by such Covered Person in such capacity, whether or not such Person
continues to be a Covered Person at the time of such cost, expense, loss, damage, claim or Liability is incurred or imposed, if the Covered Person acted in good faith reliance on the provisions of this Agreement, and, with respect to any criminal
action or proceeding, such Covered Person had no reasonable cause to believe its conduct was unlawful. 
 (d) A Covered Person shall be
fully protected from liability to the Partnership, the Partners and any other Person bound by this Agreement in acting or refraining from acting in good faith reliance upon the records of the Partnership and such other information, opinions, reports
or statements presented to the Partnership by any Person as to any matters the Covered Person reasonably believes are within such other Person’s professional or expert competence and who has been selected with reasonable care by or on behalf of
the Partnership, including information, opinions, reports or statements as to the value and amount of the assets, Liabilities, Profits and Losses of the Partnership. 

Section 10.3 Indemnification. 

(a) To the fullest extent permitted by law but subject to the limitations expressly provided in this Agreement, all Covered Persons shall be
indemnified and held harmless by the Partnership from and against any and all losses, claims, damages, liabilities, joint or several, expenses (including legal fees and expenses), judgments, fines, penalties, interest, settlements or other amounts
arising from any and all threatened, pending or completed claims, demands, actions, suits or proceedings, whether civil, criminal, administrative or investigative, and whether formal or informal and including appeals, in which any Covered Person may
be involved, or is threatened to be involved, as a party or otherwise, by reason of its status as a Covered Person and acting (or refraining to act) in such capacity on behalf of or for the benefit of the Partnership; provided, that the Covered
Person shall not be indemnified and held harmless pursuant to this Agreement if there has been a final and non-appealable judgment entered by a court of competent jurisdiction determining that, in respect of the matter for which the Covered Person
is seeking indemnification pursuant to this Agreement, the Covered Person acted in bad faith or engaged in intentional fraud, willful misconduct or, in the case of a criminal matter, acted with knowledge that the Covered Person’s conduct was
unlawful. Any indemnification pursuant to this Section 10.3 shall be made only out of the assets of the Partnership, it being agreed that the General Partner shall not be personally liable for such indemnification and shall have no
obligation to contribute or loan any monies or property to the Partnership to enable it to effectuate such indemnification. 
 (b) To the
fullest extent permitted by law, expenses (including legal fees and expenses) incurred by a Covered Person who is indemnified pursuant to Section 10.3(a) in defending any claim, demand, action, suit or proceeding shall, from time to
time, be advanced by the Partnership prior to a final and non-appealable judgment entered by a court of competent 

  
 27 

 
jurisdiction determining that, in respect of the matter for which the Covered Person is seeking indemnification pursuant to this Section 10.3, the Covered Person is not entitled to be
indemnified upon receipt by the Partnership of any undertaking by or on behalf of the Covered Person to repay such amount if it shall be ultimately determined that the Covered Person is not entitled to be indemnified as authorized by this Section
10.3. 
 (c) The indemnification provided by this Section 10.3 shall be in addition to any other rights to which a Covered
Person may be entitled under any agreement, as a matter of law, in equity or otherwise, both as to actions in the Covered Person’s capacity as a Covered Person and as to actions in any other capacity, and shall continue as to a Covered Person
who has ceased to serve in such capacity and shall inure to the benefit of the heirs, successors, assigns and administrators of the Covered Person. 

ARTICLE XI 
 CONFLICTS OF
INTEREST 
 Section 11.1 Transactions with Affiliates. The Partnership and its Subsidiaries shall be permitted to
enter into or renew or extend the term of any agreement or transaction with a Partner or an Affiliate of a Partner on such terms and conditions as the General Partner shall approve in its sole discretion, without the approval of any Limited Partner.

 Section 11.2 Outside Activities. Notwithstanding anything to the contrary in this Agreement or
any duty otherwise existing at law or in equity, (a) the engaging in activities by any Covered Person that are competitive with the business of the Partnership is hereby approved by all Partners, (b) it shall be deemed not to be a breach
of any fiduciary duty or any other duty or obligation of a Partner under this Agreement or otherwise existing under Applicable Law or in equity for such Covered Person to engage in such activities in preference to or to the exclusion of the
Partnership, (c) a Covered Person shall have no obligation under this Agreement or as a result of any duty (including any fiduciary duty) otherwise existing under Applicable Law or in equity, to present business opportunities to the Partnership
and (d) the doctrine of corporate opportunity, or any analogous doctrine, shall not apply to any Covered Person; provided such Covered Person does not engage in such activity as a result of or using confidential or proprietary
information provided by or on behalf of the Partnership to such Covered Person. 
 ARTICLE XII 

DISSOLUTION AND TERMINATION 

Section 12.1 Dissolution. The Partnership shall be dissolved and its business and affairs wound up upon the earliest to
occur of any one of the following events: 
 (a) at any time there are no Limited Partners of the Partnership, unless the business of the
Partnership is continued in accordance with the Act; 
 (b) the written consent of all the Partners; 

(c) an “event of withdrawal” (as defined in the Act) of the General Partner; or 

(d) the entry of a decree of judicial dissolution of the Partnership pursuant to Section 17-802 of the Act. 

  
 28 

 The bankruptcy, involuntary liquidation or dissolution of a Partner shall cause that Partner to cease to be a
partner of the Partnership. Notwithstanding the foregoing, the Partnership shall not be dissolved and its business and affairs shall not be wound up upon the occurrence of any event specified in clause (c) above if, at the time of occurrence of
such event, there is at least one remaining General Partner (who is hereby authorized to, and shall, carry on the business of the Partnership) and at least one Limited Partner, or if within ninety (90) days after the date on which such event
occurs, the remaining Partners elect in writing to continue the business of the Partnership and to the appointment, effective as of the date of such event, if required, of one or more additional General Partners of the Partnership. Except as
provided in this paragraph, and to the fullest extent permitted by the Act, the occurrence of an event that causes a Partner to cease to be a Partner of the Partnership shall not, in and of itself, cause the Partnership to be dissolved or its
business or affairs to be wound up, and upon the occurrence of such an event, the business of the Partnership shall, to the extent permitted by the Act, continue without dissolution. 

Section 12.2 Winding Up of Partnership. Upon dissolution, the Partnership’s business shall be wound up in an orderly
manner. The General Partner shall (unless the General Partner (or, if no General Partner, the remaining Limited Partners) elects to appoint a liquidating trustee) wind up the affairs of the Partnership pursuant to this Agreement. In performing its
duties, the General Partner or liquidating trustee is authorized to sell, distribute, exchange or otherwise dispose of the assets of the Partnership in accordance with the Act and in any reasonable manner that the General Partner or liquidating
trustee shall determine to be in the best interest of the Partners or their successors-in-interest. The General Partner or liquidating trustee shall take full account of the Partnership’s Liabilities and Property and shall cause the Property or
the proceeds from the sale thereof, to the extent sufficient therefor, to be applied and distributed, to the maximum extent permitted by Applicable Law, in the following order: 

(a) First, to creditors, including Partners who are creditors, to the extent permitted by law, in satisfaction of all of the
Partnership’s Liabilities (whether by payment or the making of reasonable provision for payment thereof to the extent required by Section 17-804 of the Act), other than Liabilities for distribution to Partners under Section 17-601 or
17-604 of the Act; 
 (b) Second, to the Partners and former Partners of the Partnership in satisfaction of Liabilities for distributions
under Sections 17-601 or 17-604 of the Act; and 
 (c) The balance, if any, to the Partners in accordance with the positive balance in their
respective Capital Accounts, after giving effect to all contributions, distributions and allocations for all periods. 

Section 12.3 Compliance with Certain Requirements of Regulations; Deficit Capital Accounts. In the
event the Partnership is “liquidated” within the meaning of Regulations Section 1.704-1(b)(2)(ii)(g), distributions shall be made pursuant to this Article XII to the Partners who have positive Capital Accounts in
compliance with Regulations Section 1.704- 1(b)(2)(ii)(b)(2). If any Partner has a deficit balance in its Capital Account (after giving effect to all contributions, distributions and allocations for all Allocation Years, including the
Allocation Year during which 

  
 29 

 
such liquidation occurs), such Partner shall have no obligation to make any contribution to the capital of the Partnership with respect to such deficit, and such deficit shall not be considered a
debt owed to the Partnership or to any other Person for any purpose whatsoever. 
 Section 12.4 Deemed Distribution and
Recontribution. Notwithstanding any other provision of this Article XII, in the event the Partnership is liquidated within the meaning of Regulations Section 1.704-1(b)(2)(ii)(g) but no actual dissolution and
winding up under the Act has occurred, the Property shall not be liquidated, the Partnership’s debts and other Liabilities shall not be paid or discharged, and the Partnership’s affairs shall not be wound up. Instead, solely for federal
income tax purposes, the Partnership shall be deemed to have contributed all its Property and Liabilities to a new limited partnership in exchange for an interest in such new limited partnership and, immediately thereafter, the Partnership will be
deemed to liquidate by distributing interests in the new limited partnership to the Partners. 
 Section 12.5 Distribution of
Property. In the event the General Partner determines that it is necessary in connection with the winding up of the Partnership to make a distribution of property in kind, such property shall be transferred and conveyed
to the Partners so as to vest in each of them as a tenant in common an undivided interest in the whole of such property, but otherwise in accordance with Section 12.3. 

Section 12.6 Termination of Partnership. The Partnership shall terminate when all assets of the Partnership, after payment
of or due provision for all Liabilities of the Partnership, shall have been distributed to the Partners in the manner provided for in this Agreement, and the Certificate shall have been canceled in the manner provided by the Act. 

ARTICLE XIII 

MISCELLANEOUS 

Section 13.1 Notices. Any notice, consent or approval to be given under this Agreement shall be in
writing and shall be deemed to have been given if delivered: (a) personally by a reputable courier service that requires a signature upon delivery; (b) by mailing the same via registered or certified first-class mail, postage prepaid,
return receipt requested; or (c) by telecopying or transmitting by electronic mail the same with receipt confirmation to the intended recipient. Any such writing will be deemed to have been given: (i) as of the date of personal delivery
via courier as described above; (ii) as of the third calendar day after depositing the same into the custody of the postal service as evidenced by the date-stamped receipt issued upon deposit of the same into the mails as described above; and
(iii) as of the date and time electronically transmitted in the case of telecopy or electronic mail delivery as described above, in each case addressed to the intended party at the address set forth on Exhibit A. Any Partner may
designate different addresses or telephone numbers by notice to the other Partners. 
 Section 13.2 Integration. This
Agreement constitutes the entire agreement among the parties hereto pertaining to the subject matter hereof and supersedes all prior agreements and understandings pertaining thereto. 

Section 13.3 Assignment. A Partner shall not assign all or any of its rights, obligations or benefits under this Agreement
to any other Person otherwise than (i) in connection with a 

  
 30 

 
transfer of its Partnership Interests pursuant to Article IX or (ii) with the prior written consent of each of the other Partners, which consent may be withheld in such Partner’s
sole discretion, and any attempted assignment not in compliance with Article IX or this Section 13.3 shall be void. 

Section 13.4 Parties in Interest. This Agreement shall be binding upon and inure to the benefit of the parties hereto and
their heirs, executors, administrators, successors, legal representatives and permitted assigns. 
 Section 13.5
Counterparts. This Agreement may be executed in counterparts, all of which together shall constitute an agreement binding on all the parties hereto, notwithstanding that all such parties are not signatories to the original or the same
counterpart. 
 Section 13.6 Amendment; Waiver. This Agreement may not be amended except in a written instrument signed
by each of the Partners and expressly stating it is an amendment to this Agreement. Any failure or delay on the part of any Partner in exercising any power or right hereunder shall not operate as a waiver thereof, nor shall any single or partial
exercise of any such right or power preclude any other or further exercise thereof or the exercise of any other right or power hereunder or otherwise available under Applicable Law or in equity. 

Section 13.7 Severability. If any term, provision, covenant, or restriction in this Agreement or the application thereof to
any Person or circumstance, at any time or to any extent, is held by a court of competent jurisdiction or other Governmental Authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this
Agreement (or the application of such provision in other jurisdictions or to Persons or circumstances other than those to which it was held invalid or unenforceable) shall in no way be affected, impaired or invalidated, and to the extent permitted
by Applicable Law, any such term, provision, covenant or restriction shall be restricted in applicability or reformed to the minimum extent required for such to be enforceable. This provision shall be interpreted and enforced to give effect to the
original written intent of the Partners prior to the determination of such invalidity or unenforceability. 
 Section 13.8
Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT GIVING EFFECT TO THE PRINCIPLES OF CONFLICTS OF LAW THEREOF. ANY RIGHT TO TRIAL BY JURY WITH RESPECT
TO ANY CLAIM OR PROCEEDING RELATED TO OR ARISING OUT OF THIS AGREEMENT, OR ANY TRANSACTION OR CONDUCT IN CONNECTION HEREWITH, IS HEREBY WAIVED BY EACH OF THE PARTNERS. 

Section 13.9 No Bill for Accounting. To the fullest extent permitted by law, in no event shall any
Partner have any right to file a bill for an accounting or any similar proceeding. 
 Section 13.10 Waiver of Partition.
Each Partner hereby waives any right to partition of the Partnership property. 

  
 31 

 Section 13.11 Third Parties. Nothing herein expressed or implied is intended
or shall be construed to confer upon or give any Person (other than Covered Persons) other than the Partners and their respective successors, legal representatives and permitted assigns any rights, remedies or basis for reliance upon, under or by
reason of this Agreement. 
 [Signature page follows.] 

  
 32 

 IN WITNESS WHEREOF, the parties have signed this Agreement as of the Effective Date. 

 

			
	GENERAL PARTNER:
	
	CONE Midstream DevCo III GP LLC
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	LIMITED PARTNER:
	
	CONE Gathering LLC
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 Signature page to Agreement of Limited Partnership of CONE Midstream DevCo III LP 

 Exhibit A 
  

							
	 Partner
	  	Percentage Interest	 	 	Type of
Partnership Interest
			
	 CONE Midstream DevCo III GP LLC

 
 1000 CONSOL Energy Drive

Canonsburg, Pennsylvania 15317

Attention:
[                    ]

Email:
[                    ]
  

with a copy to:
  

CONE Midstream DevCo III GP LLC

1001 Noble Energy Way

Houston, Texas 77070

Attention: General Counsel

Email: kmoore@nobleenergyinc.com
	  	 	5	% 	 	General Partner Interest
			
	 CONE Gathering LLC
  

1000 CONSOL Energy Drive

Canonsburg, Pennsylvania 15317

Attention:
[                    ]

Email:
[                    ]
  

with a copy to:
  

CONE Midstream DevCo III GP LLC

1001 Noble Energy Way

Houston, Texas 77070

Attention: General Counsel

Email: kmoore@nobleenergyinc.com
	  	 	95	% 	 	Limited Partner InterestExhibit 10.1

EXECUTION VERSION

AMENDMENT NO. 2

 

AMENDMENT NO. 2, dated as of September
3, 2014 (this “Amendment”), to the Credit Agreement dated as of January 31, 2012 (as amended by Amendment No.
1, dated as of February 21, 2013, and as further amended, supplemented, amended and restated or otherwise modified from time to
time) (the “Credit Agreement”) among PRESTIGE BRANDS HOLDINGS, INC., a Delaware corporation (“Holdings”),
PRESTIGE BRANDS, INC., a Delaware corporation (the “Borrower”), the other Guarantors from time to time party
thereto, each lender from time to time party thereto (collectively, the “Lenders” and individually, a “Lender”),
CITIBANK, N.A., as Administrative Agent (in such capacity, the “Administrative Agent”) and the other Agents
named therein. Capitalized terms used and not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement.

 

WHEREAS, Section 2.14 of the Credit Agreement
permits the Borrower to establish Incremental Commitments with existing Lenders and/or Additional Lenders pursuant to the terms
and conditions set forth therein;

 

WHEREAS, in connection with the consummation
of the 2014 Transactions (as defined in Exhibit A), the Borrower desires to create a new Class of Term B-2 Loans under the Credit
Agreement in an aggregate principal amount of up to $720.0 million, with such Term B-2 Loans having identical terms with, and having
the same rights and obligations under the Loan Documents as, the Term B-1 Loans, as set forth in the Credit Agreement and Loan
Documents, except as such terms are amended hereby;

 

WHEREAS, each Person that executes and delivers
a joinder to this Amendment substantially in the form of Exhibit B (a “Joinder”) as a Term B-2 Lender will make
Term B-2 Loans in the amount set forth on the signature page of such Person’s Joinder on the effective date of this Amendment
to the Borrower, the proceeds of which may be used by the Borrower to consummate the 2014 Transactions;

 

WHEREAS, the Loan Parties and Required Lenders
wish to make certain other amendments set forth in Exhibit A pursuant to amendments authorized by Section 10.01 of the Credit Agreement
(the “Other Amendments”);

 

NOW, THEREFORE, in consideration of the premises
and covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto, intending to be legally bound hereby, agree as follows:

 

		Section 1.	Amendments.

 

(a)The
Credit Agreement is, effective as of the Amendment No. 2 Effective Date (as defined below), hereby amended to delete the stricken
text (indicated textually in the same manner as the following example: stricken text)
and to add the double-underlined text (indicated textually in the same manner as the following example: double-underlined
text) as set forth in the pages of the Credit Agreement attached as Exhibit A hereto).

 

    	 

    	 

    

 

(b)Schedules 7.01, 7.02, 7.03, 7.08 and
7.09 attached hereto shall replace in their entirety Sections 7.01(b), 7.02(f), 7.03(b), 7.08 and 7.09 of the Confidential Disclosure
Letter.

 

		Section 2.	Conditions to Effectiveness (Relating to Establishment
of Term B-2 Loans).

 

The effectiveness of the terms of this Amendment
that relate solely to the incurrence of the Term B-2 Loans (the “Term B-2 Amendments”) and the obligation of
the Term B-2 Lender to make its Term B-2 Loans hereunder shall be subject to the satisfaction of the following conditions precedent
(the time upon which such conditions are satisfied, the Term B-2 Loans are made and the Term B-2 Amendments become effective, the
“Term B-2 Loan Funding Time”):

 

(a)The Administrative Agent’s receipt
of the following, each of which shall be originals or facsimiles or electronic copies (followed promptly by originals) unless otherwise
specified:

 

(1)counterparts of this Amendment
executed by (A) each Loan Party, (B) each Term B-2 Lender and (C) the Administrative Agent;

 

(2)a Note executed by the Borrower
in favor of each Lender requesting a Note at least two (2) Business Days prior to the Amendment No. 2 Effective Date, if any.

 

(3)an opinion of (i) Kirkland
& Ellis LLP, New York counsel to the Loan Parties, dated the Amendment No. 2 Effective Date, addressed to each Arranger, the
Administrative Agent and the Term B-2 Lenders, substantially in the form previously provided to the Administrative Agent;

 

(4)(A) a certificate as to the
good standing of each Loan Party as of a recent date, from the Secretary of State of the state of its organization or a similar
Governmental Authority and (B) a certificate of a Responsible Officer of each Loan Party dated the Amendment No. 2 Effective Date
and certifying (I) to the effect that (w) attached thereto is a true and complete copy of the certificate or articles of incorporation
or organization such Loan Party certified as of a recent date by the Secretary of State of the state of its organization, or in
the alternative (other than in the case of Insight and its Subsidiaries), certifying that such certificate or articles of incorporation
or organization have not been amended since the Amendment No. 1 Effective Date, and that such certificate or articles are in full
force and effect, (x) attached thereto is a true and complete copy of the by-laws or operating agreements of each Loan Party as
in effect on the dated the Amendment No. 2 Effective Date, or in the alternative (other than in the case of Insight and its Subsidiaries),
certifying that such by-laws or operating agreements have not been amended since the Amendment No. 1 Effective Date and (y) attached
thereto is a true and complete copy of resolutions duly adopted by the board of directors, board of managers or member, as the
case may be, of each Loan Party authorizing the execution, delivery and performance of the Loan Documents to which such Loan Party
is a party, and that such resolutions have not been modified, rescinded or amended and are in full force and effect, or in the
alternative (other than in the case of Insight and its Subsidiaries), certifying that such resolutions have not been amended since
the Amendment No. 1 Effective Date and (II) as to the incumbency and specimen signature of each officer executing any Loan Document
on behalf of any Loan Party and signed by another officer as to the incumbency and specimen signature of the Responsible Officer
executing the certificate pursuant to this clause (B) or in the alternative (other than in the case of Insight and its Subsidiaries),
certifying that the incumbency and specimen signature for each officer executing any Loan Document on behalf of any Loan Party
has not changed since the Amendment No. 1 Effective Date;

 

    	-2-

    	 

    

 

(5)a certificate signed by a
Responsible Officer of the Borrower certifying as to the satisfaction of the conditions set forth in paragraphs (c), (e), (f),
(g) and (j) of this Section 2; and

 

(6)a certificate signed by the
chief financial officer, chief accounting officer or other officer with equivalent duties of the Borrower, certifying that, after
giving effect to the 2014 Transactions, the Borrower and its subsidiaries on a consolidated basis are solvent.

 

(b)Prior to or substantially simultaneously
with the borrowing under the Term B-2 Facility (i) the Insight Acquisition shall have been consummated or shall be consummated,
in all material respects in accordance with the terms of the Insight Acquisition Agreement, dated April 25, 2014, without giving
effect to any amendments, consents or waivers by you thereto that are material and adverse to the Lenders or the Amendment No.
2 Arrangers (as reasonably determined by the Lead Arranger), without the prior consent of the Amendment No. 2 Arrangers (such consent
not to be unreasonably withheld, delayed or conditioned) (it being understood that (a) any reduction in the purchase price of,
or consideration for, the Insight Acquisition is not material and adverse to the interests of the Lenders or the Lead Arranger,
but shall reduce the commitment for the Term B-2 Loans and (b) any amendment to the definition of “Material Adverse Effect”
is material and adverse to the interests of the Lenders and the Amendment No. 2 Arrangers) and (ii) the 2014 Refinancing shall
have been consummated (and customary pay-off and lien release documentation in connection therewith shall have been delivered to
the Administrative Agent).

 

(c)No change, effect, event, occurrence,
state of facts or development shall have occurred since December 31, 2013 that constitutes, either individually or in the aggregate,
a Material Adverse Effect (as defined in the Insight Acquisition Agreement).

 

(d)With respect to Insight and its Subsidiaries,
the Administrative Agent’s receipt of the following each in form and substance reasonably satisfactory to the Administrative
Agent and its legal counsel:

 

(i)Security Agreement Supplement;

 

(ii)joinder to the Intercreditor
Agreement;

 

(iii)joinder to the Credit
Agreement;

 

(iv)counterpart to the Intercompany
Note;

 

    	-3-

    	 

    

 

(v)certificates, if any, representing
the Pledged Equity of Insight and its Subsidiaries required to be delivered pursuant to the Collateral and Guarantee Requirement,
accompanied by undated stock powers executed in blank and instruments evidencing the Pledged Debt indorsed in blank; and

 

(vi)to the extent requested
by the Administrative Agent, evidence that all other actions, recordings and filings required by the Collateral Documents that
the Administrative Agent may deem reasonably necessary to satisfy the Collateral and Guarantee Requirement shall have been taken,
completed or otherwise provided for in a manner reasonably satisfactory to the Administrative Agent;

 

provided,
however, that, each of the requirements set forth in this clause (d), including the delivery of documents and instruments necessary
to satisfy the Collateral and Guarantee Requirement (except for the execution and delivery of the documents in clauses (i) through
(iv) above and to the extent that a Lien on such Collateral may be perfected (x) by the filing of a financing statement under the
Uniform Commercial Code or (y) by the delivery of stock certificates of Insight and its wholly owned Material Domestic Subsidiaries
other than any Unrestricted Subsidiaries) shall not constitute conditions precedent to the borrowing of the Term B-2 Loans on the
Amendment No. 2 Effective Date after the Borrower’s use of commercially reasonable efforts to provide such items on or prior
to the Amendment No. 2 Effective Date or without undue burden or expense if the Borrower agrees to deliver, or cause to be delivered,
such search results, documents and instruments, or take or cause to be taken such other actions as may be required to perfect such
security interests within ninety (90) days after the Amendment No. 2 Effective Date (subject to extensions approved by the Administrative
Agent in its reasonable discretion).

 

(e)The Specified Representations shall
be true and correct in all material respects (or, if qualified by “materiality,” “Material Adverse Effect”
or similar language, in all respects (after giving effect to such qualification)) on and as of the Amendment No. 2 Effective Date;
provided that, to the extent that such representations and warranties specifically refer to an earlier date, they shall
be true and correct in all material respects as of such earlier date.

 

(f)The representations and warranties
made by Insight in the Insight Acquisition Agreement that are material to the interests of the Lenders shall be true and correct,
but only to the extent that Holdings or the Borrower has the right to terminate its obligations under the Insight Acquisition Agreement
as a result of a breach of such representations and warranties.

 

(g)The Borrower and its Restricted Subsidiaries
shall be in compliance with the covenants set forth in Section 7.11 of the Credit Agreement, determined on a Pro Forma Basis
as of the Amendment No. 2 Effective Date and the last day of the most recently ended Test Period, in each case, as if any Term
B-2 Loans had been outstanding on the last day of such fiscal quarter of the Borrower for testing compliance therewith.

 

(h)The Amendment No. 2 Arrangers shall
have received (a) audited consolidated balance sheets of Holdings and related statements of income, changes in equity and cash
flows of the Borrower for the three most recent fiscal years ended at least 90 days prior to the Amendment No. 2 Effective Date,
(b) audited consolidated balance sheets of Insight and related audited consolidated statements of operations, stockholders’
equity and cash flows of Insight for the fiscal years ended December 31, 2011, December 31, 2012 and December 31, 2013, (c) unaudited
consolidated balance sheets and related statements of income, changes in equity and cash flows of Holdings for each subsequent
fiscal quarter (other than the fourth fiscal quarter of Holdings’ fiscal year) after the date of the most recent financial
statements delivered pursuant to clause (a) above and ended at least 45 days before the Amendment No. 2 Effective Date and (d)
an unaudited consolidated balance sheet of Insight as of March 31, 2014 and related unaudited consolidated statement of operations,
stockholders’ equity and cash flows of Insight for the three (3)-month fiscal period then ended, as well as an unaudited
consolidated balance sheet and related unaudited consolidated statement of operations, stockholders’ equity and cash flows
of Insight as of the end of and for each fiscal quarter of Insight that ends after March 31, 2014 but at least 45 days prior to
the Amendment No. 2 Effective Date.

 

    	-4-

    	 

    

 

(i)The Amendment No. 2 Arrangers shall
have received a pro forma consolidated balance sheet and related pro forma consolidated statement of income of the Borrower as
of and for the twelve-month period ending on the last day of the most recently completed four-fiscal quarter period ended at least
45 days prior to the Amendment No. 2 Effective Date (or 90 days in case such four-fiscal quarter period is the end of the Borrower’s
fiscal year), prepared after giving effect to the 2014 Transactions as if the 2014 Transactions had occurred as of such date (in
the case of such balance sheet) or at the beginning of such period (in the case of such statement of income).

 

(j)No Default or Event of Default shall
exist, or would result from the Amendment and related Term B-2 Loans or from the application of the proceeds therefrom.

 

(k)All fees required to be paid on the
Amendment No. 2 Effective Date pursuant to the Fee Letter and reasonable out-of-pocket expenses required to be paid to the Amendment
No. 2 Arrangers on the Amendment No. 2 Effective Date, to the extent invoiced at least three business days prior to the Closing
Date (except as otherwise reasonably agreed by the Borrower), shall, upon the borrowing under the Term B-2 Facility, have been
paid (which amounts may be offset against the proceeds of the Term B-2 Facility).

 

(l)The Administrative Agent and the Amendment
No. 2 Arrangers shall have received all documentation and other information about the Borrower and the Guarantors as has been reasonably
requested in writing at least 15 days prior to the Amendment No. 2 Effective Date by the Administrative Agent or the Amendment
No. 2 Arrangers that they reasonably determine is required by regulatory authorities under applicable “know your customer”
and anti-money laundering rules and regulations, including without limitation the PATRIOT Act.

 

(m)The Administrative Agent shall have
received a Committed Loan Notice not later than 1:00 p.m. (New York time) on the Business Day prior to the date of the proposed
Credit Extension.

 

(n)The Administrative Agent shall have
received the executed counterparts of the Joinder executed by the Borrower and each Term B-2 Lender.

 

		Section 3.	Conditions to Effectiveness of the Other Amendments.

 

The effectiveness of the Other Amendments
set forth in Exhibit A, shall be subject to the satisfaction of the following conditions precedent (the date upon which the Other
Amendments become effective, the “Amendment No. 2 Effective Date”):

 

    	-5-

    	 

    

 

(a)The Term B-2 Loan Funding Time shall
have occurred.

 

(b)Counterparts of this Amendment shall
have been executed by the Required Lenders (after giving effect to the incurrence of the Term B-2 Loans).

 

		Section 4.	Expenses.

 

The
Borrower agrees to reimburse the Administrative Agent for its reasonable and documented out-of-pocket expenses incurred by them
in connection with this Amendment, including the reasonable fees, charges and disbursements of Cahill Gordon & Reindel llp,
counsel for the Administrative Agent.

 

		Section 5.	Counterparts.

 

This Amendment may be executed in any number
of counterparts and by different parties hereto on separate counterparts, each of which when so executed and delivered shall be
deemed to be an original, but all of which when taken together shall constitute a single instrument. Delivery of an executed counterpart
of a signature page of this Amendment by facsimile transmission or electronic transmission shall be effective as delivery of a
manually executed counterpart hereof.

 

		Section 6.	Governing Law and Waiver of Right to Trial by Jury.

 

THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED
IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. The jurisdiction and waiver of right to trial by jury provisions in Section
10.15 and 10.16 of the Credit Agreement are incorporated herein by reference mutatis mutandis.

 

		Section 7.	Headings.

 

The headings of this Amendment are for purposes
of reference only and shall not limit or otherwise affect the meaning hereof.

 

		Section 8.	Reaffirmation.

 

Each Loan Party hereby expressly acknowledges
the terms of this Amendment and reaffirms, as of the date hereof, (i) the covenants and agreements contained in each Loan Document
to which it is a party, including, in each case, such covenants and agreements as in effect immediately after giving effect to
this Amendment and the transactions contemplated hereby and (ii) its guarantee of the Obligations (including, without limitation,
in respect of the Term B-2 Loans hereunder) under the Guaranty, as applicable, and its grant of Liens on the Collateral to secure
the Obligations (including, without limitation, in respect of the Term B-2 Loans hereunder) pursuant to the Collateral Documents.

 

		Section 9.	Effect of Amendment.

 

Except as expressly set forth herein, this
Amendment shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies
of the Lenders or the Agents under the Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any
way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other provision
of the Credit Agreement or any other Loan Document, all of which are ratified and affirmed in all respects and shall continue in
full force and effect. For the avoidance of doubt, on and after the Amendment No. 2 Effective Date, this Amendment shall for all
purposes constitute a Loan Document.

 

    	-6-

    	 

    

 

		Section 10.	FATCA.

 

For purposes of determining withholding Taxes
imposed under FATCA, including any FATCA-related compliance of any Person with Section 3.01(e) of the Credit Agreement, from and
after the Amendment No. 2 Effective Date, the Borrower and the Administrative Agent agree to treat (and the Lenders hereby authorize
the Borrower and the Administrative Agent to treat) (i) the Term B-1 Loans as no longer qualifying as “grandfathered obligations”
within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i) and 1.1471-2T(b)(2), and (ii) the Term B-2 Loans as not qualifying
as “grandfathered obligations” within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i) and 1.1471-2T(b)(2).

 

 

[signature pages follow]

 

    	-7-

    	 

    

 

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

 

	 	PRESTIGE BRANDS HOLDINGS, INC. 1,
    as Holdings and a Guarantor
	 	 	 
	 	By:	/s/ Ron Lombardi
	 	 	Name: Ronald M. Lombardi
	 	 	Title: Chief Financial Officer and Treasurer
	 	 	 
	 	PRESTIGE BRANDS, INC., as Borrower
	 	 	 
	 	By:	/s/ Ron Lombardi
	 	 	Name: Ronald M. Lombardi
	 	 	Title: Chief Financial Officer and Treasurer
	 	 	 
	 	BLACKSMITH BRANDS, INC.
	 	MEDTECH HOLDINGS, INC.
	 	MEDTECH PRODUCTS INC.
	 	PRESTIGE BRANDS HOLDINGS, INC. 2
	 	PRESTIGE BRANDS INTERNATIONAL, INC.
	 	PRESTIGE SERVICES CORP.
	 	THE CUTEX COMPANY
	 	THE SPIC AND SPAN COMPANY,
	 	as Subsidiary Guarantors
	 	 	 
	 	By:	/s/ Ron Lombardi
	 		Name: Ronald M. Lombardi
	 	 	Title: Chief Financial Officer 

 

1
A Delaware corporation

 

2
A Virginia corporation

 

    	 

    	 

    

 

	 	CITIBANK, N.A., as Administrative Agent
	 	 	 
	 	By:	/s/ Caesar Wyszomirski
	 	 	Name:  Caesar Wyszomirski
	 	 	Title:  Vice President

 

    	 

    	 

    

 

EXHIBIT A

 

	 	CITIBANK, N.A., as a Lender
	 	 	 
	 	By:	/s/ Justin Tichauer
	 	 	Name:  Justin Tichauer
	 	 	Title:  Vice President

 

    	 

    	 

    

 

EXHIBIT B

 

JOINDER AGREEMENT

 

JOINDER AGREEMENT, dated as of September 3,
2014 (this “Agreement”), by and among CITIBANK, N.A. (the “Term B-2 Lender”), Prestige
Brands, Inc. (the “Borrower”), and CITIBANK, N.A. (the “Administrative Agent”).

 

RECITALS:

 

WHEREAS, reference is hereby made to the
Credit Agreement, dated as of January 31, 2012 (as amended by Amendment No. 1, dated as of February 21, 2013, and as further amended,
supplemented, amended and restated or otherwise modified in writing from time to time) (the “Credit Agreement”),
among PRESTIGE BRANDS HOLDINGS, INC., a Delaware corporation (“Holdings”), PRESTIGE BRANDS, INC., a Delaware
corporation (the “Borrower”), the other Guarantors from time to time party thereto, each lender from time to
time party thereto and CITIBANK, N.A., as Administrative Agent and the other Agents named therein (capitalized terms used but not
defined herein having the meaning provided in the Credit Agreement (as amended by Amendment No. 2));

 

WHEREAS, subject to the terms and conditions
of the Credit Agreement, the Borrower may establish Incremental Commitments (the “Term B-2 Commitments”) with
existing Lenders and/or Additional Lenders; and

 

WHEREAS, subject to the terms and conditions
of the Credit Agreement, the Term B-2 Lender shall become a Lender pursuant to a Joinder Agreement;

 

NOW, THEREFORE, in consideration of the
premises and agreements, provisions and covenants herein contained, the parties hereto agree as follows:

 

The Term B-2 Lender hereby agrees to provide
the Term B-2 Commitment set forth on its signature page hereto pursuant to and in accordance with Section 2.14 of the Credit Agreement.
The Term B-2 Commitments provided pursuant to this Agreement shall be subject to all of the terms in the Credit Agreement and to
the conditions set forth in Section 2.14 of the Credit Agreement, and shall be entitled to all the benefits afforded by the Credit
Agreement and the other Loan Documents, and shall, without limiting the foregoing, benefit equally and ratably from the Guarantees
and security interests created by the Collateral Documents.

 

The Term B-2 Lender, the Borrower and the
Administrative Agent acknowledge and agree that the Term B-2 Commitments provided pursuant to this Agreement shall constitute Incremental
Commitments for all purposes of the Credit Agreement and the other applicable Loan Documents. The Term B-2 Lender hereby agrees
to make the Term B-2 Loan to the Borrower in an amount equal to its Term B-2 Commitment on the Amendment No. 2 Effective Date in
accordance with Section 2.01(c) of the Credit Agreement.

 

The Term B-2 Lender (i) confirms that it
has received a copy of the Credit Agreement and the other Loan Documents (including Amendment No. 2), together with copies of the
financial statements referred to therein and such other documents and information as it has deemed appropriate to make its own
credit analysis and decision to enter into this Agreement; (ii) agrees that it will, independently and without reliance upon the
Administrative Agent or any other Lender or Agent and based on such documents and information as it shall deem appropriate at the
time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement; (iii) appoints and authorizes
the Administrative Agent to take such action as agent on its behalf and to exercise such powers and discretion under the Credit
Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms thereof, together with such powers
and discretion as are reasonably incidental thereto; and (iv) agrees that it will perform in accordance with their terms all of
the obligations which by the terms of the Credit Agreement are required to be performed by it as a Lender.

 

    	 

    	 

    

 

Upon (i) the execution of a counterpart
of this Agreement by the Term B-2 Lender, the Administrative Agent and the Borrower and (ii) the delivery to the Administrative
Agent of a fully executed counterpart (including by way of telecopy or other electronic transmission) hereof, the Term B-2 Lender
shall become a Lender under the Credit Agreement and shall have the respective Term B-2 Commitment set forth on its signature page
hereto, effective as of the Amendment No. 2 Effective Date.

 

This Agreement may not be amended, modified
or waived except by an instrument or instruments in writing signed and delivered on behalf of each of the parties hereto.

 

This Agreement, the Credit Agreement and
the other Loan Documents constitute the entire agreement among the parties with respect to the subject matter hereof and thereof
and supersede all other prior agreements and understandings, both written and verbal, among the parties or any of them with respect
to the subject matter hereof.

 

THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS
OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 

Any term or provision of this Agreement
which is invalid or unenforceable in any jurisdiction shall, as to that jurisdiction, be ineffective to the extent of such invalidity
or unenforceability without rendering invalid or unenforceable the remaining terms and provisions of this Agreement or affecting
the validity or enforceability of any of the terms or provisions of this Agreement in any other jurisdiction. If any provision
of this Agreement is so broad as to be unenforceable, the provision shall be interpreted to be only so broad as would be enforceable.

 

This Agreement may be executed in counterparts,
each of which shall be deemed to be an original, but all of which shall constitute one and the same agreement.

 

    	B-2

    	 

    

 

	 	CITIBANK, N.A.,
	 	as Term B-2 Lender
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	Term B-2 Commitments:
	 	 	 
	 	$720,000,000	 

 

    	B-3

    	 

    

 

	 	PRESTIGE BRANDS, INC.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	B-4

    	 

    

 

	Accepted:	 	 
	CITIBANK, N.A.,	 
	as Administrative Agent	 
	 	 
	 	 	 
	By:	Name:	 
	 	Title:	 

 

    	B-5

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