Document:

EX-10.3

 Exhibit 10.3 

ATLAS GROWTH PARTNERS, L.P. LONG-TERM INCENTIVE PLAN 

SECTION 1: PURPOSE OF THE PLAN. 

The Atlas Growth Partners, L.P. Long-Term Incentive Plan (the “Plan”) is intended to promote the interests of Atlas Growth
Partners, L.P., a Delaware limited partnership (the “Partnership”), by providing to officers, employees and board members of Atlas Growth Partners GP, LLC, a Delaware limited liability company (the “Company”), and
employees of its Affiliates, consultants and joint venture partners who perform services for the Company or the Partnership, incentive awards for superior performance that are based on common units of limited partner interest of the Partnership
(“Units”). It is also contemplated that the Plan will enhance the ability of the Company and its Affiliates to attract and retain the services of individuals who are essential for the growth and profitability of the Company or the
Partnership and to encourage them to devote their best efforts to the business of the Company or the Partnership, thereby advancing the interests of the Company and the Partnership. 

SECTION 2: DEFINITIONS. 
 As
used in the Plan, the following terms shall have the meanings set forth below: 
 “Affiliate” means, with respect to any
Person, any other Person that directly or indirectly through one or more intermediaries controls, is controlled by or is under common control with, the Person in question. As used herein, the term “control” means the possession,
direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise. 

“Award” means an Option, Phantom Unit, or Restricted Unit granted under the Plan, and shall include any tandem DERs granted
with respect to a Phantom Unit. 
 “Award Agreement” means a written agreement setting forth the terms and conditions of a
specific Award. 
 “Board” means the board of directors of the Company. 

“Cause” means Cause (or a term of similar import) as defined in the employment, consulting, or similar agreement to
which a Participant is party, or, if there is no such agreement, “Cause” means the Participant’s: (i) commission of a felony or a crime of moral turpitude; (ii) commission of any act of malfeasance or wrongdoing against the
Partnership, the Company or any Affiliate; (iii) a material breach of the Company’s or any Affiliate’s applicable policies or procedures; (iv) willful and continued failure to perform the Participant’s material duties;
(v) willful misconduct that causes material harm to the Partnership, the Company or any Affiliate or their respective business reputations, including due to any adverse publicity; or (vi) material breach of the Participant’s
obligations under any agreement (including any covenant not to compete) entered into between the Participant and the Company or any Affiliate. Notwithstanding Section 3(a) of the Plan, following a Change in Control, any determination by the
Committee as to whether “Cause” exists shall be subject to de novo review. 
 “Change in Control”
means the occurrence of any of the following: 
 (a) neither the Company nor any of its Affiliates is the general partner of the Partnership;

 (b) a merger, consolidation, share exchange, division or other reorganization or transaction of the Partnership, Atlas Energy Group,
L.L.C., or the Company with any entity, other than such a transaction that would result in the voting securities of the Partnership, Atlas Energy Group, L.L.C., or the Company, as appropriate, outstanding immediately prior thereto continuing to
represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) at least 60% of the combined voting power immediately after such transaction of the surviving entity’s outstanding securities or,
in the case of a division, the outstanding securities of each entity resulting from the division; 

 (c) the equity holders of the Partnership, the Company, or Atlas Energy, L.L.C. approve a plan of
complete liquidation or winding-up of, as appropriate, the Partnership, the Company, or Atlas Energy Group, L.L.C.; 
 (d) a sale or
disposition (in one transaction or a series of transactions) of all or substantially all of the assets of the Partnership, the Company, or Atlas Energy Group, L.L.C.; 

(e) during any period of 24 consecutive months, individuals who at the beginning of such period constituted the Board (including for this
purpose any new director whose election or nomination for election or appointment was approved by a vote of at least 2/3 of the directors then still in office who were directors at the beginning of such period) cease for any reason to constitute at
least a majority of the Board; or 
 (f) any other sale of assets or restructuring transaction that has the effect of the enumerated
transactions or events described in any of clauses (a) through (e) above. 
 Notwithstanding the foregoing, with respect to any Award that is
subject to Section 409A of the Code, Change in Control shall mean a “change of control event,” as defined in the regulations and guidance issued under Section 409A of the Code. In addition, notwithstanding the foregoing, the
Committee may specify a more limited definition of Change in Control for a particular Award, as the Committee deems appropriate. 

“Code” means the Internal Revenue Code of 1986, as amended, or any successor thereto, and the regulations promulgated
thereunder. 
 “Committee” means the Board or such committee of the Board or the board (or committee of the board) of an
Affiliate of the Partnership appointed by the Board to administer the Plan. 
 “DER” means a right, granted in tandem with
a specific Phantom Unit, to receive an amount in cash, securities, or property equal to, and at the same time as, the cash distributions or other distributions of securities or property made by the Partnership with respect to a Unit during the
period such Phantom Unit is outstanding. 
 “Director” means a “non-employee director” of the Company as defined
in Rule 16b-3 under the Exchange Act. 
 “Disability” means, unless provided otherwise in an Award Agreement,
(i) “Disability” as defined in any individual employment agreement to which the Participant is a party, or (ii) if there is no such individual employment agreement or it does not define “Disability,” “permanent and
total disability” as defined in Section 22(e)(3) of the Code. Notwithstanding the above, with respect to any Award, to the extent necessary to avoid accelerated taxation or tax penalties under Section 409A of the Code, Disability
shall mean “disability” within the meaning of Section 409A of the Code. 
 “Employee” means any officer or
employee of the Company, its Affiliates, consultants or joint venture partners who performs services for the Company, the Partnership, or an Affiliate of the Company or the Partnership or in furtherance of the Company’s or the
Partnership’s business. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Fair Market Value” means the closing sales price of a Unit on the applicable date (or if there is no trading in the Units on
such date, the closing sales price on the last date Units were traded). In the event Units are not publicly traded at the time a determination of fair market value is required to be made hereunder, the determination of fair market value shall be
made in good faith by the Committee in manner which, if necessary to avoid accelerated taxation or tax penalties pursuant to Section 409A of the Code, meets the requirements of Section 409A of the Code. 

“Listing Event” means the Units are listed on a national securities exchange, whether or not in connection with a public
offering of Units. 

 “Option” means an option to purchase Units granted under the Plan. 

“Participant” means any Employee or Director granted an Award under the Plan. 

“Person” means an individual or a corporation, limited liability company, partnership, joint venture, trust, unincorporated
organization, association, government agency or political subdivision thereof or other entity. 
 “Phantom Unit” means a
phantom (notional) unit granted under the Plan that, upon vesting, entitles the Participant to receive a Unit or its then-Fair Market Value in cash or other securities or property, as determined by the Committee. 

“Restricted Period” means the period established by the Committee with respect to an Award during which the Award remains
subject to forfeiture or is not exercisable by the Participant. 
 “Restricted Unit” means an Award granted under
Section 6(c). 
 “Rule 16b-3” means Rule 16b-3 promulgated by the SEC under the Exchange Act, or any successor rule or
regulation thereto as in effect from time to time. 
 “SEC” means the Securities and Exchange Commission, or any successor
thereto. 
 “Securities Act” means the Securities Act of 1933, as amended. 

SECTION 3: ADMINISTRATION. 

(a) General Authority and Determinations. The Plan shall be administered by the Committee. A majority of the Committee shall constitute
a quorum, and the acts of a majority of the members of the Committee who are present at any meeting thereof at which a quorum is present, or acts unanimously approved by the members of the Committee in writing, shall be the acts of the Committee.
Subject to the following and any applicable law, the Committee, in its sole discretion, may delegate any or all of its powers and duties under the Plan, including the power to grant Awards under the Plan, to the Chief Executive Officer of the
Company, subject to such limitations on such delegated powers and duties as the Committee may impose, if any; provided, however, that such delegation shall not limit the Chief Executive Officer’s right to receive Awards under the Plan, and the
Chief Executive Officer may not grant Awards to, or take any action with respect to any Award previously granted to, himself or a Person who is an Employee or Director subject to Rule 16b-3. Subject to the terms of the Plan and applicable law, and
in addition to other express powers and authorizations conferred on the Committee by the Plan, the Committee shall have full power and authority to: (i) designate Participants; (ii) determine the type or types of Awards to be granted to a
Participant; (iii) determine the terms and conditions of any Award; (iv) determine whether, to what extent, and under what circumstances Awards may be settled, exercised, canceled, or forfeited; (v) interpret and administer the Plan
and any instrument or agreement relating to an Award made under the Plan; (vi) establish, amend, suspend, or waive such rules and regulations and appoint such agents as it shall deem appropriate for the proper administration of the Plan;
(vii) accelerate the vesting or lapse of restrictions of any outstanding Award, in each case based on such considerations as the Committee in its sole discretion determines; and (viii) make any other determination and take any other action
that the Committee deems necessary or desirable for the administration of the Plan. The Committee shall have full power and express discretionary authority to make factual determinations and to adopt or amend such rules, regulations, agreements and
instruments for implementing the Plan and for the conduct of its business as it deems necessary or advisable, in its sole discretion. Unless otherwise expressly provided in the Plan, all designations, determinations, interpretations, and other
decisions under or with respect to the Plan or any Award shall be within the sole discretion of the Committee, may be made at any time and shall be final, conclusive, and binding upon all Persons, including the Company, the Partnership, any
Affiliate, any Participant, and any beneficiary of any Award. All powers of the Committee shall be executed in the best interests of the Company, not as a fiduciary, in keeping with the objectives of the Plan, and need not be uniform as to similarly
situated Participants. 

 (b) Award Agreements. All Awards under the Plan shall be made conditional on the
Participant’s entering into an Award Agreement, and a Participant shall have no rights under the Plan until an Award Agreement is entered into by the Participant and the Company. The terms and conditions of each Award, as determined by the
Committee, shall be set forth in an Award Agreement, which shall be delivered to the Participant receiving such Award upon, or as promptly as is reasonably practicable following, the grant of such Award. All Awards under the Plan shall be made
conditional upon the Participant’s acknowledgement, in writing or by acceptance of the Award, that all decisions and determinations of the Committee shall be final and binding on the Participant, his or her beneficiaries and any other person
having or claiming an interest in such Award. Awards made under a particular Section of the Plan need not be uniform as among Participants. 
 SECTION 4:
UNITS. 
 (a) Units Available. Subject to further adjustment as provided in Section 4(c), prior to a Listing
Event, no Awards may be granted under the Plan. After a Listing Event, the maximum amount of Phantom Units, Options, and Restricted Units that may be granted under the Plan shall be fixed at a number equal to 10% of the total number of outstanding
Units at such Listing Event, which shall include Units issued in a contemporaneous offering with the Listing Event. If any Option, Phantom Unit, or Restricted Unit is forfeited or otherwise terminates or is canceled or paid without the delivery of
Units, then the Units covered by such Award, to the extent of such forfeiture, termination, payment or cancellation, shall again be Units with respect to which Awards may be granted. Units surrendered in payment of the Exercise Price of an Option,
and Units withheld or surrendered for payment of taxes, shall not be available for re-issuance under the Plan. 
 (b) Sources of Units
Deliverable under Awards. Any Units delivered pursuant to an Award shall consist, in whole or in part, of Units newly issued by the Partnership, Units acquired in the open market or from any Affiliate of the Partnership or the Company, or any
other Person, or any combination of the foregoing, as determined by the Committee in its discretion. 
 (c) Adjustments. In the event
that any distribution (whether in the form of cash, Units, other securities or other property), recapitalization, split, reverse split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Units or other
securities of the Partnership, issuance of warrants or other rights to purchase Units or other securities of the Partnership, or other similar transaction or event affects the Units such that an adjustment is necessary in order to prevent dilution
or enlargement of the benefits or potential benefits intended to be made available under the Plan, then the Committee shall equitably adjust (i) the number and type of Units (or other securities or property) with respect to which Awards may be
granted, (ii) the number and type of Units (or other securities or property, including cash) subject to outstanding Awards, and (iii) the grant or exercise price with respect to any Award; provided, however, that the number of Units
subject to any Award shall always be a whole number. The Committee may make provision for a cash payment to the holder of an outstanding Award in connection with any event listed in this Section 4(c). 

SECTION 5: ELIGIBILITY. 

Any Employee or Director shall be eligible to be designated a Participant and receive an Award under the Plan. 

SECTION 6: AWARDS. 
 (a)
Options. The Committee shall have the authority to determine the Employees and Directors to whom Options shall be granted, the number of Units to be covered by each Option, the exercise price therefor, the Restricted Period and the conditions
and limitations applicable to the exercise of the Option, as the Committee shall determine, that are not inconsistent with the provisions of the Plan. 

(I) EXERCISE PRICE. THE EXERCISE PRICE PER UNIT PURCHASABLE UNDER AN OPTION SHALL BE DETERMINED BY THE COMMITTEE AT
THE TIME THE OPTION IS GRANTED AND MAY NOT BE LESS THAN FAIR MARKET VALUE AS OF THE DATE OF GRANT. 

 (II) RESTRICTIONS ON EXERCISE AND METHOD OF EXERCISE. THE COMMITTEE
SHALL DETERMINE THE RESTRICTED PERIOD AND THE METHOD OR METHODS BY WHICH PAYMENT OF THE EXERCISE PRICE MAY BE MADE OR DEEMED TO HAVE BEEN MADE, WHICH MAY INCLUDE, WITHOUT LIMITATION, CASH, CHECK ACCEPTABLE TO THE BOARD, A TENDER OF UNITS BY THE
PARTICIPANT HAVING A FAIR MARKET VALUE ON THE DATE OF EXERCISE EQUAL TO THE EXERCISE PRICE, A “CASHLESS-BROKER”–ASSISTED EXERCISE IN ACCORDANCE WITH PROCEDURES PERMITTED BY REGULATION T OF THE FEDERAL RESERVE BOARD OR THROUGH
PROCEDURES APPROVED BY THE BOARD, A RECOURSE NOTE FROM THE PARTICIPANT IN A FORM ACCEPTABLE TO THE BOARD AND WHICH DOES NOT VIOLATE THE SARBANES-OXLEY ACT OF 2002, A “NET EXERCISE” THAT PERMITS THE PARTNERSHIP TO WITHHOLD A NUMBER OF UNITS
THAT OTHERWISE WOULD BE ISSUED TO THE PARTICIPANT PURSUANT TO THE EXERCISE OF THE OPTION HAVING A FAIR MARKET VALUE ON THE DATE OF EXERCISE EQUAL TO THE EXERCISE PRICE, OR ANY COMBINATION THEREOF. 

(b) Phantom Units. The Committee shall have the authority to determine the Employees and Directors to whom Phantom Units shall be
granted, the number of Phantom Units to be granted to each such Participant, the Restricted Period, the conditions under which the Phantom Units may become vested or forfeited, whether DERs are granted with respect to an Award of Phantom Units and
such other terms and conditions, as the Committee may determine, that are not inconsistent with the provisions of the Plan. 

(I) PAYMENT WITH RESPECT TO PHANTOM UNITS. PAYMENT WITH RESPECT TO PHANTOM UNITS SHALL BE MADE IN CASH, IN UNITS, OR
IN A COMBINATION OF CASH AND UNITS, AS DETERMINED BY THE COMMITTEE. THE AWARD AGREEMENT SHALL SPECIFY THE MAXIMUM NUMBER OF UNITS THAT CAN BE ISSUED PURSUANT TO THE AWARD OF PHANTOM UNITS. 

(II) DERS. THE COMMITTEE MAY GRANT DERS IN CONNECTION WITH AN AWARD OF PHANTOM UNITS, UNDER SUCH TERMS AND CONDITIONS
AS THE COMMITTEE DEEMS APPROPRIATE. DERS MAY BE PAID TO PARTICIPANTS CURRENTLY OR MAY BE DEFERRED, AS REFLECTED IN THE APPLICABLE AWARD AGREEMENT. ALL DERS THAT ARE NOT PAID CURRENTLY SHALL BE CREDITED TO BOOKKEEPING ACCOUNTS ON THE COMPANY’S
RECORDS FOR PURPOSES OF THE PLAN. DERS MAY BE ACCRUED AS A CASH OBLIGATION OR MAY CONVERTED TO ADDITIONAL PHANTOM UNITS FOR THE PARTICIPANT, AND DEFERRED DERS MAY ACCRUE INTEREST, IN EACH CASE AS DETERMINED BY THE COMMITTEE. THE COMMITTEE MAY
PROVIDE THAT DERS SHALL BE PAYABLE BASED ON THE ACHIEVEMENT OF SPECIFIC PERFORMANCE GOALS. DERS MAY BE PAYABLE IN CASH OR UNITS OR IN A COMBINATION OF CASH AND UNITS, AS DETERMINED BY THE COMMITTEE. 

(c) Restricted Units. Restricted Units are actual Units issued to a Participant that are subject to vesting restrictions and evidenced
in such manner as the Committee may deem appropriate, including book-entry registration or issuance of one or more unit certificates. Any certificate issued in respect of Restricted Units shall be registered in the name of the applicable Participant
and shall bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Restricted Units. The Committee may require that the certificates evidencing such Units be held in custody by the Company until the
restrictions thereon shall have lapsed and that, as a condition of any Award of Restricted Units, the applicable Participant shall have endorsed the certificates in blank, relating to the Units covered by such Award. 

(I) TERMS AND CONDITIONS. RESTRICTED UNITS SHALL BE SUBJECT TO THE FOLLOWING TERMS AND CONDITIONS: 

(A) The Committee shall have the authority to determine the Employees and Directors to whom Restricted Units shall be granted, the number of
Units to be granted to each such Participant, the Restricted Period, the conditions under which the Restricted Units may become vested or forfeited, and such other 

 
terms and conditions, as the Committee may determine, that are not inconsistent with the provisions of the Plan. The conditions for grant, vesting or transferability and the other provisions of
Restricted Units (including without limitation any performance goals) need not be the same with respect to each Participant. The Committee may at any time, in its sole discretion, accelerate or waive, in whole or in part, any of the foregoing
restrictions. 
 (B) Subject to the provisions of the Plan and the applicable Award Agreement, during the Restricted Period, the Participant
shall not be permitted to sell, assign, transfer, pledge or otherwise encumber Restricted Units. 
 (C) Except as provided in this
Section 6 and in an applicable Award Agreement, the applicable Participant shall have, with respect to the Restricted Units, all of the rights of holders of Units, including the right to vote the Units. If so determined by the Committee in the
applicable Award Agreement, (i) cash dividends on the Units that are the subject of the Restricted Unit Award shall be automatically deferred and/or reinvested in additional Restricted Units and held subject to the vesting of the underlying
Restricted Units, and (ii) subject to any adjustment pursuant to the terms of Section 4(c) of the Plan, dividends payable in Units shall be paid in the form of Restricted Units of the same class as the Units with which such dividend was
paid, held subject to the vesting of the underlying Restricted Units. 
 (D) If and when the applicable performance goals, if any, are
determined by the Committee to be satisfied and the Restricted Period expires without a prior forfeiture of the Restricted Units for which legended certificates have been issued, unlegended certificates for such Units shall be delivered to the
Participant upon surrender of the legended certificates. 
 (d) General. 

(I). FORFEITURE. EXCEPT AS OTHERWISE PROVIDED IN THE TERMS OF AN AWARD AGREEMENT, UPON TERMINATION OF A
PARTICIPANT’S EMPLOYMENT WITH THE COMPANY OR ITS AFFILIATES OR MEMBERSHIP ON THE BOARD DURING THE APPLICABLE RESTRICTED PERIOD, ALL UNVESTED OPTIONS, PHANTOM UNITS, AND RESTRICTED UNITS SHALL BE FORFEITED BY THE PARTICIPANT; PROVIDED, HOWEVER,
THAT IF THE REASON FOR THE TERMINATION IS THE PARTICIPANT’S DEATH OR DISABILITY, ALL OPTIONS AWARDED TO THE PARTICIPANT SHALL BECOME EXERCISABLE AND ALL PHANTOM UNITS AND RESTRICTED UNITS SHALL VEST AUTOMATICALLY. THE COMMITTEE MAY, IN ITS
DISCRETION, WAIVE IN WHOLE OR IN PART ANY FORFEITURE. 
 (II). AWARDS MAY BE GRANTED SEPARATELY OR TOGETHER.
AWARDS MAY, IN THE DISCRETION OF THE COMMITTEE, BE GRANTED EITHER ALONE OR IN ADDITION TO, IN TANDEM WITH, OR IN SUBSTITUTION FOR ANY OTHER AWARD GRANTED UNDER THE PLAN OR ANY AWARD GRANTED UNDER ANY OTHER PLAN OF THE COMPANY OR ANY AFFILIATE.

 (III). LIMITS ON TRANSFER OF AWARDS. 

(A) Except as provided in (C) below, each Option shall be exercisable only by the Participant during the Participant’s lifetime, or
by the person to whom the Participant’s rights shall pass by will or the laws of descent and distribution. 
 (B) Except as provided in
(C) below, no Award and no right under any such Award may be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by a Participant and any such purported assignment, alienation, pledge, attachment, sale, transfer
or encumbrance shall be void and unenforceable against the Partnership, the Company or any Affiliate thereof. 

 (C) To the extent specifically provided by the Committee with respect to an Option grant, an
Option may be transferred by a Participant without consideration to immediate family members or related family trusts, limited partnerships or similar entities or on such terms and conditions as the Committee may from time to time establish. In
addition, Awards may be transferred by will and the laws of descent and distribution. 
 (IV). UNIT CERTIFICATES.
ALL CERTIFICATES FOR UNITS OR OTHER SECURITIES OF THE PARTNERSHIP DELIVERED UNDER THE PLAN PURSUANT TO ANY AWARD OR THE EXERCISE THEREOF SHALL BE SUBJECT TO SUCH STOP TRANSFER ORDERS AND OTHER RESTRICTIONS AS THE COMMITTEE MAY DEEM ADVISABLE UNDER
THE PLAN OR THE RULES, REGULATIONS, AND OTHER REQUIREMENTS OF THE SEC, ANY STOCK EXCHANGE UPON WHICH SUCH UNITS OR OTHER SECURITIES ARE THEN LISTED, AND ANY APPLICABLE FEDERAL OR STATE LAWS, AND THE COMMITTEE MAY CAUSE A LEGEND OR LEGENDS TO BE PUT
ON ANY SUCH CERTIFICATES TO MAKE APPROPRIATE REFERENCE TO SUCH RESTRICTIONS. 
 (V). DELIVERY OF UNITS OR OTHER
SECURITIES AND PAYMENT BY PARTICIPANT OF CONSIDERATION. NOTWITHSTANDING ANYTHING IN THE PLAN OR ANY GRANT AGREEMENT TO THE CONTRARY, DELIVERY OF UNITS PURSUANT TO THE EXERCISE OR VESTING OF AN AWARD MAY BE DEFERRED FOR ANY PERIOD DURING WHICH,
IN THE GOOD FAITH DETERMINATION OF THE COMMITTEE, THE PARTNERSHIP IS NOT REASONABLY ABLE TO OBTAIN OR ISSUE UNITS PURSUANT TO SUCH AWARD WITHOUT VIOLATING THE RULES OR REGULATIONS OF ANY APPLICABLE LAW OR SECURITIES EXCHANGE. NO UNITS OR OTHER
SECURITIES SHALL BE DELIVERED PURSUANT TO ANY AWARD UNTIL PAYMENT IN FULL OF ANY AMOUNT REQUIRED TO BE PAID PURSUANT TO THE PLAN OR THE APPLICABLE AWARD GRANT AGREEMENT (INCLUDING, WITHOUT LIMITATION, ANY EXERCISE PRICE OR TAX WITHHOLDING) IS
RECEIVED BY THE PARTNERSHIP. WITH RESPECT TO ANY AWARD THAT IS SUBJECT TO SECTION 409A OF THE CODE, ANY DELAY UNDER THIS PARAGRAPH IS INTENDED TO APPLY ONLY IF NO ACCELERATED TAXATION OR TAX PENALTIES UNDER SECTION 409A OF THE CODE WOULD
APPLY. 
 (VI). RULE 16B-3. IT IS INTENDED THAT THE PLAN AND ANY AWARD MADE TO A PARTICIPANT SUBJECT TO
SECTION 16 OF THE EXCHANGE ACT MEET ALL OF THE REQUIREMENTS OF RULE 16B-3. IF ANY PROVISION OF THE PLAN OR ANY SUCH AWARD WOULD DISQUALIFY THE PLAN OR SUCH AWARD UNDER, OR WOULD OTHERWISE NOT COMPLY WITH RULE 16B-3, SUCH PROVISION OR AWARD
SHALL BE CONSTRUED OR DEEMED AMENDED TO CONFORM TO RULE 16B-3. 
 (VII). STATUS OF ORIGINAL ISSUE UNITS. THE
PARTNERSHIP INTENDS, BUT SHALL NOT BE OBLIGATED, TO REGISTER FOR SALE UNDER THE SECURITIES ACT THE UNITS ACQUIRABLE PURSUANT TO AWARDS, AND TO KEEP SUCH REGISTRATION EFFECTIVE THROUGHOUT THE PERIOD ANY AWARDS ARE IN EFFECT. IN THE ABSENCE OF SUCH
EFFECTIVE REGISTRATION OR AN AVAILABLE EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT, DELIVERY OF UNITS ACQUIRABLE PURSUANT TO AWARDS SHALL BE DELAYED UNTIL REGISTRATION OF SUCH UNITS IS EFFECTIVE OR AN EXEMPTION FROM REGISTRATION UNDER THE
SECURITIES ACT IS AVAILABLE. IN THE EVENT EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT IS AVAILABLE, A PARTICIPANT (OR A PARTICIPANT’S ESTATE OR PERSONAL REPRESENTATIVE IN THE EVENT OF THE PARTICIPANT’S DEATH OR INCAPACITY), IF
REQUESTED BY THE PARTNERSHIP TO DO SO, WILL EXECUTE AND DELIVER TO THE PARTNERSHIP IN WRITING AN AGREEMENT CONTAINING SUCH PROVISIONS AS THE PARTNERSHIP MAY REQUIRE TO ASSURE COMPLIANCE WITH APPLICABLE SECURITIES LAWS. NO SALE OR DISPOSITION OF
UNITS ACQUIRED PURSUANT TO AN AWARD BY A PARTICIPANT SHALL BE MADE IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT WITH RESPECT TO SUCH UNITS UNLESS AN OPINION OF COUNSEL SATISFACTORY TO THE PARTNERSHIP THAT SUCH SALE
OR DISPOSITION WILL NOT CONSTITUTE A VIOLATION OF THE SECURITIES ACT OR ANY OTHER APPLICABLE SECURITIES LAWS 

 
IS FIRST OBTAINED. WITH RESPECT TO ANY AWARD THAT IS SUBJECT TO SECTION 409A OF THE CODE, ANY DELAY UNDER THIS PARAGRAPH IS INTENDED TO APPLY ONLY IF NO ACCELERATED TAXATION OR TAX PENALTIES
UNDER SECTION 409A OF THE CODE WOULD APPLY. 
 (VIII). CHANGE IN CONTROL. 

(A) General Authority. In connection with any Change in Control, the Committee may, in its sole and absolute discretion and
authority and without obtaining the approval or consent of the Partnership’s unitholders or any Participant with respect to such Participant’s outstanding Awards, subject to the terms of any Award Agreements or employment agreements
between the Company or any Affiliate and any Participant, take one or more of the following actions (with respect to any or all of the Awards, and with discretion to differentiate between individual Participants and Awards for any reason): 

 

	 	(1)	Cause Awards to be assumed or a substantially equivalent award to be substituted by the surviving or successor entity or a parent, subsidiary, or affiliate of such successor entity; 

 

	 	(2)	Accelerate the vesting of Awards as of immediately prior to the consummation of the transaction that constitutes such Change in Control so that Awards shall vest (and, to the extent applicable, become exercisable) as to
the Units that otherwise would have been unvested, in a manner which allows the resulting Units to participate in such transaction; 

  

	 	(3)	Arrange or otherwise provide for the payment of cash or other consideration to Participants in exchange for the cancellation of outstanding Awards (with the Committee determining the amount payable to each Participant
based on, in the case of an Award of Phantom Units or Restricted Units being cancelled, the Fair Market Value, on the date of the Change in Control, of the Units subject to such Award and, in the case of an Award of Options, the excess, if any, of
the Fair Market Value on the date of the Change in Control of the Units issuable with respect to such Options less the aggregate exercise price of such Options); 

  

	 	(4)	Terminate all or some Awards upon the consummation of the transaction that constitutes a Change in Control, provided that the Committee shall provide for vesting of such Awards in full as of immediately prior to the
consummation of the transaction that constitutes such Change in Control (to the extent that, where applicable, an Award is not exercised prior to consummation of such a transaction in which the Award is not being assumed or substituted, such Award
shall terminate upon such consummation); and 

  

	 	(5)	Make such other modifications, adjustments, or amendments to outstanding Awards or this Plan as the Committee deems necessary or appropriate. 

(B) Vesting in Connection With a Change in Control. Upon a Change in Control, all Awards held by Directors shall, to the extent
previously unvested, immediately vest in full. In the case of Participants who are Employees, upon the Participant’s termination of employment by the Company without “Cause” (as defined herein), or upon any other type of termination
specified in the applicable Award Agreement, in any case following a Change in Control, any unvested portion of an Award shall immediately vest in full and, in the case of Options, become exercisable for the one-year period following the date of
termination of employment, but in any case not later than the end of the original term of the Option. 
 SECTION 7: AMENDMENT. 

Except to the extent prohibited by applicable law: 

(a) Amendments to the Plan. Except as required by the rules of the principal securities exchange on which the Units are traded and
subject to Section 7(b) below, the Board or the Committee may amend, alter, suspend, discontinue, or terminate the Plan in any manner without the consent of any partner, Participant, other holder or beneficiary of an Award, or other Person.

 (b) Amendments to Awards. Subject to Sections 6(d)(viii) and 7(a), the Committee may waive
any conditions or rights under, amend any terms of, or alter any Award theretofore granted, provided no change, other than pursuant to Sections 6(d)(viii) or 7(c), to any Award shall materially reduce the benefit to a Participant without the consent
of such Participant. 
 (c) Adjustment of Awards upon the Occurrence of Certain Unusual or Nonrecurring Events. The Committee is
hereby authorized to make adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of unusual or nonrecurring events (including, without limitation, the events described in Section 4(c) of the Plan)
affecting the Partnership or the financial statements of the Partnership, or of changes in applicable laws, regulations, or accounting principles, whenever the Committee determines that such adjustments are appropriate in order to prevent dilution
or enlargement of the benefits or potential benefits intended to be made available under the Plan. 
 SECTION 8: GENERAL PROVISIONS.

 (a) No Rights to Award. No Person shall have any claim to be granted any Award under the Plan, and there is no obligation for
uniformity of treatment of Participants. The terms and conditions of Awards need not be the same with respect to each Participant. 
 (b)
Withholding. All Awards under the Plan shall be subject to applicable federal (including FICA), state and local tax withholding requirements. The Company may require that the Participant or other person receiving or exercising Awards pay to
the Company the amount of any federal, state or local taxes that the Company is required to withhold with respect to such Awards, or the Company may deduct from other wages paid by the Company the amount of any withholding taxes due with respect to
such Awards. The Company may require forfeiture of any Award for which the Participant does not timely pay the applicable withholding taxes. If the Committee so permits, Units may be withheld to satisfy the Company’s tax withholding obligation
with respect to Awards paid in Units, at the time such Awards become subject to employment taxes and tax withholding, as applicable, up to an amount that does not exceed the minimum required withholding for federal (including FICA), state and local
tax liabilities. 
 (c) No Right to Employment. The grant of an Award shall not be construed as giving a Participant the right to be
retained in the employ of the Company or any Affiliate or to remain on the Board. Further, the Company or an Affiliate may at any time dismiss a Participant from employment, free from any liability or any claim under the Plan, unless otherwise
expressly provided in the Plan or in any Award agreement. 
 (d) Governing Law. The validity, construction, and effect of the Plan and
any rules and regulations relating to the Plan shall be determined in accordance with the laws of the State of Delaware (without regard to any choice of law provision that might refer interpretation of the Plan to the substantive law of another
jurisdiction) and applicable federal law. 
 (e) Severability. If any provision of the Plan or any Award is or becomes or is deemed to
be invalid, illegal, or unenforceable in any jurisdiction or as to any Person or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to the
applicable laws, or if it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award, such provision shall be stricken as to such jurisdiction, Person or Award and
the remainder of the Plan and any such Award shall remain in full force and effect. 
 (f) Compliance with Other Laws. The Committee
may refuse to issue or transfer any Units or other consideration under an Award if, in its sole discretion, it determines that the issuance or transfer or such Units or such other consideration might violate any applicable law or regulation, the
rules of the principal securities exchange on which the Units are then traded, or entitle the Partnership or an Affiliate to recovery of “short swing profits” under Section 16(b) of the Exchange Act, and any payment tendered to the
Partnership by a Participant, other holder 

 
or beneficiary in connection with the exercise of such Award, shall be promptly refunded to the relevant Participant, holder or beneficiary. It is intended that, to the extent applicable, Awards
made under the Plan comply with the requirements of Section 409A of the Code and the regulations thereunder so as to avoid any accelerated income tax or tax penalty imposed under Section 409A of the Code, and the Plan and Award Agreements
shall be interpreted consistently with this intent. 
 (g) No Trust or Fund Created. Neither the Plan nor any Award shall create or be
construed to create a trust or separate fund of any kind or a fiduciary relationship between the Partnership, the Company or any participating Affiliate and a Participant or any other Person. 

(h) No Fractional Units. No fractional Units shall be issued or delivered pursuant to the Plan or any Award, and the Committee shall
determine whether cash, other securities, or other property shall be paid or transferred in lieu of any fractional Units or whether such fractional Units or any rights thereto shall be canceled, terminated, or otherwise eliminated. 

(i) Headings. Headings are given to the sections and subsections of the Plan solely as a convenience to facilitate reference. Such
headings shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision thereof. 

(j) Facility of Payment. Any amounts payable hereunder to any Person under legal disability or who, in the judgment of the Committee, is
unable to properly manage his financial affairs, may be paid to the legal representative of such Person, or may be applied for the benefit of such Person in any manner which the Committee may select, and the Company shall be relieved of any further
liability for payment of such amounts. 
 SECTION 9: TERM OF THE PLAN. 

The Plan shall be effective on the date of its approval by the Unit holders, subject to the requirement that no Awards be granted hereunder
until the occurrence of a Listing Event, and shall continue until the earlier of (i) the date terminated by the Board, in its sole discretion, (ii) the date Units are no longer available for the grant of Awards under the Plan, or
(iii) 10 years after a Listing Event. However, unless otherwise expressly provided in the Plan or in an applicable Award agreement, any Award granted prior to such termination, and the authority of the Board or the Committee to amend, alter,
adjust, suspend, discontinue, or terminate any such Award or to waive any conditions or rights under such Award, shall extend beyond such termination date.EX-10.4

 Exhibit 10.4 

FORM OF DISTRIBUTION REINVESTMENT PLAN 

ATLAS GROWTH PARTNERS, L.P. 

EFFECTIVE AS OF            , 2015 

Atlas Growth Partners, L.P., a Delaware limited partnership (the “Partnership”), has adopted this
Distribution Reinvestment Plan (the “Plan”), to be administered by the Partnership, Anthem Securities, Inc. (the “Dealer Manager”) or an unaffiliated third party (the
“Administrator”), in each case as agent for participants in the Plan (“Participants”), on the terms and conditions set forth below. 

1. Election to Participate. Any purchaser of Class A Common Units of the Partnership (“Class A Common
Units”) or Class T Common Units of the Partnership (“Class T Common Units,” and, collectively with the “Class A Common Units,” the
“Common Units”) may become a Participant by making a written election to participate on such purchaser’s subscription agreement at the time of subscription for Common Units or by delivering a completed and
executed authorized form to the Administrator, which can be obtained from the Administrator. Any unitholder who has not previously elected to participate in the Plan may so elect at any time by completing and executing an authorization form obtained
from the Administrator or any other appropriate documentation as may be acceptable to the Administrator. Participants in the Plan generally are required to have the full amount of their cash distributions (other than “Excluded
Distributions” as defined below) with respect to all Common Units owned by them reinvested pursuant to the Plan. However, the Administrator shall have the sole discretion, upon the request of a Participant, to accommodate a
Participant’s request for less than all of the Participant’s Common Units to be subject to participation in the Plan. 

2. Distribution Reinvestment. The Administrator will receive all cash distributions (other than Excluded Distributions) paid by
the Partnership with respect to Common Units of Participants (collectively, the “Distributions”). Participation will commence with the next Distribution payable after receipt of the Participant’s election
pursuant to Paragraph 1 hereof, provided it is received at least ten (10) days prior to the last day of the period to which such Distribution relates. Subject to the preceding sentence, regardless of the date of such election, a holder of
Common Units will become a Participant in the Plan effective on the first day of the period following such election, and the election will apply to all Distributions attributable to such period and to all periods thereafter. As used in this Plan,
the term “Excluded Distributions” shall mean (a) those cash or other distributions designated as Excluded Distributions by the general partner of the Partnership and (b) any distribution and unitholder
servicing fee payable to the Dealer Manager with respect to Class T Common Units. 
 3. General Terms of Plan
Investments. 
 (a) The Partnership intends to offer Class A Common Units pursuant to the Plan initially at a price
equal to $9.30 per unit, regardless of the price per unit paid by the Participant for the Common Units in respect of which the Distributions are paid. Purchases of Class A Common Units will be made directly from the Partnership and shall
be made in Class A Common Units, i.e., distributions paid on Class A Common Units and Class T Common Units,  

 
as applicable, will be used to purchase Class A Common Units. A unitholder may not participate in the Plan through distribution channels that would be eligible to purchase Class A
Common Units in the public offering of Common Units pursuant to the Partnership’s prospectus outside of the Plan at prices below $9.30 per unit. 

(b) Selling commissions will not be paid for the Class A Common Units purchased pursuant to the Plan. 

(c) Dealer Manager fees will not be paid for the Class A Common Units purchased pursuant to the Plan. 

(d) For each Participant, the Administrator will maintain an account, which shall reflect for each period in which Distributions
are paid (a “Distribution Period”) the Distributions received by the Administrator on behalf of such Participant. A Participant’s account shall be reduced as purchases of Class A Common Units are made on behalf of
such Participant. 
 (e) Distributions shall be invested in Class A Common Units by the Administrator promptly following
the payment date with respect to such Distributions to the extent Class A Common Units are available for purchase under the Plan. If sufficient Class A Common Units are not available, any such funds that have not been invested in
Class A Common Units within thirty (30) days after receipt by the Administrator and, in any event, by the end of the fiscal quarter in which they are received, will be distributed to Participants. Any interest earned on such accounts will
be paid to the Partnership and will become property of the Partnership. 
 (f) Participants may acquire fractional Class A Common Units,
computed to four decimal places, so that 100% of the Distributions will be used to acquire Class A Common Units. The ownership of the Class A Common Units shall be reflected on the books of Partnership or its transfer agent. 

4. Absence of Liability. The Partnership, the Dealer Manager and the Administrator shall not have any responsibility or liability
as to the value of the Class A Common Units or any change in the value of the Class A Common Units acquired for the Participant’s account. The Partnership, the Dealer Manager and the Administrator shall not be liable for any act done
in good faith, or for any good faith omission to act hereunder. 
 5. Suitability. Each Participant shall notify the
Administrator if, at any time during his participation in the Plan, there is any material change in the Participant’s financial condition or inaccuracy of any representation under the subscription agreement for the Participant’s initial
purchase of Common Units. A material change shall include any anticipated or actual decrease in net worth or annual gross income or any other change in circumstances that would cause the Participant to fail to meet the suitability standards set
forth in the Partnership’s prospectus for the Participant’s initial purchase of Common Units. 
 6. Reports to
Participants. Within ninety (90) days after the end of each calendar year, the Administrator will mail to each Participant a statement of account describing, as to such Participant, the Distributions received, the number of Class A
Common Units purchased and the per unit purchase price for such Class A Common Units pursuant to the Plan during the prior year. Each statement also shall advise the Participant that, in accordance with Paragraph 5 

  
 2 

 
hereof, the Participant is required to notify the Administrator if there is any material change in the Participant’s financial condition or if any representation made by the Participant
under the subscription agreement for the Participant’s initial purchase of Common Units becomes inaccurate. Tax information regarding a Participant’s participation in the Plan will be sent to each Participant by the Partnership or the
Administrator at least annually. 
 7. Taxes. Participants in the Plan will be treated as receiving the cash distributions that
they would have received if they had elected not to participate in the Plan. Class A Common Units received under the Plan will have a holding period beginning on the day after purchase under the Plan, and a U.S. federal income tax basis equal
to their cost, which will equal the gross amount of the deemed distribution. 
 8. Termination. 

(a) A Participant may terminate or modify his participation in the Plan at any time by written notice to the Administrator. To be effective for
any Distribution, such notice must be received by the Administrator at least ten (10) days prior to the last day of the Distribution Period to which it relates. 

(b) Prior to the listing of the Common Units on a national securities exchange, a Participant’s transfer of Common Units will terminate
participation in the Plan with respect to such transferred Common Units as of the first day of the Distribution Period in which such transfer is effective, unless the transferee of such Common Units in connection with such transfer demonstrates to
the Administrator that such transferee meets the requirements for participation hereunder and affirmatively elects participation by delivering an executed authorization form or other instrument required by the Administrator. 

9. State Regulatory Restrictions. The Administrator is authorized to deny participation in the Plan to residents of any state or
foreign jurisdiction that imposes restrictions on participation in the Plan that conflict with the general terms and provisions of this Plan, including, without limitation, any general prohibition on the payment of broker-dealer commissions for
purchases under the Plan. 
 10. Amendment to or Suspension or Termination of the Plan. 

(a) Except for Section 8(a) of this Plan, which shall not be amended prior to a listing of the Common Units on a national securities
exchange, the terms and conditions of this Plan may be amended by the Partnership at any time, including but not limited to an amendment to the Plan to substitute a new Administrator to act as agent for the Participants, by mailing an appropriate
notice at least ten (10) days prior to the effective date thereof to each Participant. 
 (b) The Administrator may terminate a
Participant’s individual participation in the Plan and the Partnership may suspend or terminate the Plan itself, at any time. 
 (c)
After termination of the Plan or termination of a Participant’s participation in the Plan, the Administrator will send to each Participant a check for the amount of any Distributions in the Participant’s account that have not been invested
in Class A Common Units. Any future Distributions with respect to such former Participant’s Class A Common Units made after the effective date of the termination of the Participant’s participation will be sent directly to the
former Participant. 

  
 3 

 11. Governing Law. This Plan and the Participants’ election to participate in
the Plan shall be governed by the laws of the State of Delaware. 
 12. Notice. Any notice or other communication
required or permitted to be given by any provision of this Plan shall be in writing and, if to the Administrator, addressed to Administrator, c/o [•], or such other address as may be specified by the Administrator by written notice to all
Participants. Notices to a Participant may be given by letter addressed to the Participant at the Participant’s last address of record with the Administrator or by providing the relevant information in a press release or a report filed by the
Partnership with the Securities and Exchange Commission. Each Participant shall notify the Administrator promptly in writing of any changes of address. 

13. No Certificates. The ownership of the Common Units will be in book entry form. 

  
 4

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