Document:

Form of Agreement for Restricted Unit Awards

 Exhibit 10.3 
 PENN VIRGINIA RESOURCE GP, LLC 
 THIRD AMENDED AND RESTATED LONG-TERM INCENTIVE PLAN 

RESTRICTED UNIT AWARD AGREEMENT 
 THIS RESTRICTED UNIT AWARD AGREEMENT is made as of
                                        
(the “Effective Date”) between Penn Virginia Resource GP, LLC, a Delaware limited liability company (the “Company”), and
                                        
(“Employee”). 
 1. Award of Units. As of the Effective Date, the Company hereby grants to Employee
                     common units of Penn Virginia Resource Partners, L.P. (“Units”) pursuant to the Penn Virginia Resource GP, LLC
Third Amended and Restated Long-Term Incentive Plan, as amended and restated effective January 1, 2008 (the “Plan”). Employee agrees that this award of Units shall be subject to all of the terms and conditions set forth herein and in
the Plan, including any future amendments thereto, which Plan is incorporated herein by reference as a part of this Agreement. In the event of any conflict between the terms of this Agreement and the Plan, the terms of the Plan shall govern. All
terms capitalized but not defined herein will have the meanings assigned to them in the Plan. 
 2. Forfeiture Restrictions.
The Units granted to Employee pursuant to this Agreement may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of to the extent then subject to the Forfeiture Restrictions (as hereinafter
defined), and in the event of Employee’s termination from the Company for any reason (other than as described below), Employee shall automatically upon such termination, for no consideration, forfeit to the Company all Units to the extent then
subject to the Forfeiture Restrictions. The prohibition against transfer and the obligation to forfeit and surrender Units to the Company upon termination from the Company are herein referred to as “Forfeiture Restrictions,” and the Units
which are then subject to the Forfeiture Restrictions are herein sometimes referred to as “Restricted Units.” The Forfeiture Restrictions shall be binding upon and enforceable against any transferee of the Units. The Forfeiture
Restrictions shall lapse as to Restricted Units issued to Employee pursuant to this Agreement as follows: (a) as to one-third (1/3) of the Restricted Units granted to Employee hereunder, on the first anniversary of the Effective Date;
(b) as to an additional one-third (1/3) of the Restricted Units granted to Employee hereunder, on the second anniversary of the Effective Date; and (c) as to the remaining one-third (1/3) of the Restricted Units granted to
Employee hereunder, on the third anniversary of the Effective Date; provided however, that notwithstanding the foregoing, the Forfeiture Restrictions shall lapse as to all of the Restricted Units on the date a Change of Control occurs or upon the
death or Retirement of Employee. 

 3. Certificates. A certificate evidencing the Restricted Units shall be issued in
Employee’s name, pursuant to which Employee shall have voting rights and shall be entitled to receive all distributions on such Units free and clear of any Forfeiture Restrictions. The certificate shall bear the following legend: 
 The Units evidenced by this certificate have been issued pursuant to an agreement, made as of «Date», a copy of which is
attached hereto and incorporated herein, between the Company and the registered holder of the Units, and are subject to forfeiture to the Company under certain circumstances described in such agreement. The sale, assignment, pledge or other transfer
of the Units evidenced by this certificate is prohibited under the terms and conditions of such agreement, and such Units may not be sold, assigned, pledged or otherwise transferred except as provided in such agreement. 
 The Company may cause the certificate to be delivered upon issuance to the Secretary of the Company as a depository for safekeeping until the forfeiture
occurs or the Forfeiture Restrictions lapse pursuant to the terms of this Agreement. Upon request of the Company, Employee shall deliver to the Company a unit power, endorsed in blank, relating to the Restricted Units then subject to the Forfeiture
Restrictions. Upon the lapse of the Forfeiture Restrictions without forfeiture, the Company shall cause a new certificate or certificates to be issued for the remaining Units without legend in the name of Employee in exchange for the certificate
evidencing the Restricted Units; provided, that the Company may cause such Units without legend to be uncertificated. 
 4.
Consideration. It is understood that the consideration for the issuance of Restricted Units shall be Employee’s agreement to render future services as Employee of the Company. 
 5. Status of Units. Employee agrees that the Restricted Units will not be sold or otherwise disposed of in any manner that would constitute
a violation of any applicable federal or state securities laws. Employee also agrees that (i) the certificates representing the Restricted Units may bear such legend or legends as the Committee deems appropriate in order to ensure compliance
with applicable securities laws, (ii) Penn Virginia Resource Partners, L.P. may refuse to register the transfer of the Restricted Units on the unit transfer records of Penn Virginia Resource Partners, L.P. if such proposed transfer would in the
opinion of counsel satisfactory to Penn Virginia Resource Partners, L.P. constitute a violation of any applicable securities law, and (iii) Penn Virginia Resource Partners, L.P. may give related stop transfer instructions to its transfer agent.

 6. Committee’s Powers. No provision contained in this Agreement shall in any way terminate, modify or alter, or be
construed or interpreted as terminating, modifying or altering any of the powers, rights or authority vested in the Committee pursuant to the terms of the Plan, including, without limitation, the Committee’s rights to make certain
determinations and elections with respect to the Restricted Units. 
 7. Binding Effect. This Agreement shall be binding upon
and inure to the benefit of any successors to the Company and all persons lawfully claiming under Employee. 
 8.
Non-Alienation. To the extent subject to the Forfeiture Restrictions, Employee shall not have any right to pledge, hypothecate, anticipate or assign this Agreement or the rights with respect to Units granted hereunder, except by will
or the laws of descent and distribution. 
  

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 9. No Membership Rights Conferred. This Agreement shall not be deemed to (i) confer
upon Employee any right with respect to continuation of employment or (ii) affect the terms and conditions of any other agreement between the Company and Employee except as expressly provided herein. 
 10. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of
which together will constitute one and the same Agreement. 
 11. Governing Law. This Agreement shall be governed by, and
construed in accordance with, the laws of the State of Delaware. 
 IN WITNESS WHEREOF, the Company has caused this Agreement to be duly
executed by an officer thereunto duly authorized, and Employee has executed this Agreement, all effective as of the Effective Date. 
  

			
	PENN VIRGINIA RESOURCE GP, LLC
		
	By:	 	 
	Name:	 	Nancy M. Snyder
	Title:	 	Vice President, General Counsel and Assistant Secretary

 I hereby accept the grant of Restricted Units described in this Agreement, and I agree to be bound by the
terms of the Plan and this Agreement. 
  

	
	
	  
	«Employee»

  

 3Amended and Restated Non-Employee Directors Deferred Compensation Plan

 Exhibit 10.4 
 PENN VIRGINIA RESOURCE GP, LLC 
 AMENDED AND RESTATED 
 NON-EMPLOYEE DIRECTORS 
 DEFERRED
COMPENSATION PLAN 
 Effective January 1, 2008 

 PENN VIRGINIA RESOURCE GP, LLC 
 AMENDED AND RESTATED 
 NON-EMPLOYEE DIRECTORS 
 DEFERRED COMPENSATION PLAN 
 TABLE OF CONTENTS

  

			
	 	  	Page
	ARTICLE I PURPOSE AND EFFECTIVE DATE	  	
	 1.1. Purpose
	  	1
	 1.2. Effective Date
	  	1
		
	ARTICLE II DEFINITIONS	  	1
		
	ARTICLE III ELIGIBILITY	  	5
	 3.1. Eligibility
	  	5
	 3.2. Participation and Deferral Agreements
	  	5
		
	ARTICLE IV CONTRIBUTIONS	  	6
	 4.1. Fee Deferrals
	  	6
	 4.2. Unit Award Deferrals
	  	6
	 4.3. Automatic Unit Distribution Deferral
	  	7
		
	ARTICLE V DETERMINATION OF ACCOUNTS	  	7
	 5.1. Account Establishment
	  	7
	 5.2. Deferrals
	  	7
	 5.3. Earnings on Fee Deferrals and Unit Distributions
	  	7
	 5.4. Distributions
	  	8
	 5.5. Adjustments
	  	8
		
	ARTICLE VI VESTING	  	8
	 6.1. Fee Deferrals
	  	8
	 6.2. DCUs
	  	8
	 6.3. DRUs
	  	8
	 6.4. Unit Distributions
	  	8
	 6.5. Change of Control
	  	8
		
	ARTICLE VII DISTRIBUTIONS	  	9
	 7.1. Normal Distribution Date
	  	9
	 7.2. Alternative Distribution Election
	  	9
	 7.3. Hardship Withdrawals
	  	9
	 7.4. Death Benefits
	  	10

  

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	 7.5. Form of Payment
	  	10
	 7.6. Special 409A Transition Election
	  	10
		
	ARTICLE VIII NO FUNDING	  	10
		
	ARTICLE IX ADMINISTRATION	  	11
	 9.1. Administration
	  	11
	 9.2. Administrative Review
	  	11
	 9.3. General
	  	11
		
	ARTICLE X AMENDMENT, DISCONTINUANCE AND TERMINATION	  	11
		
	ARTICLE XI MISCELLANEOUS	  	12
	 11.1. No Rights to Board Membership
	  	12
	 11.2. Rights of Participants to Benefits
	  	12
	 11.3. No Assignment
	  	12
	 11.4. Withholding
	  	12
	 11.5. Account Statements
	  	12
	 11.6. Number
	  	12
	 11.7. Titles
	  	12
	 11.8. Governing Law
	  	12
	 11.9. Other Plans
	  	13
	 11.10. Section 409A
	  	13

  

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 PENN VIRGINIA RESOURCE GP, LLC 
 AMENDED AND RESTATED 
 NON-EMPLOYEE DIRECTORS 
 DEFERRED COMPENSATION PLAN 
 ARTICLE I

 PURPOSE AND EFFECTIVE DATE 
 1.1. Purpose. The Plan is intended to provide deferred compensation for non-employee directors of Penn Virginia Resource GP, LLC. The Plan is an unfunded plan that does not cover any employees and thus is not subject to the Employee
Retirement Income Security Act of 1974, as amended, nor is it intended to qualify under section 401(a) of the Code. The Plan is intended to comply with section 409A of the Code and the regulations thereunder. 
 1.2. Effective Date. The Plan was originally effective December 31, 2003. The Plan as amended and restated herein is effective
January 1, 2008. 
 ARTICLE II 
 DEFINITIONS 
 As used herein, the following terms shall have the following meanings: 
 2.1. “Account” means the bookkeeping reserve account established and maintained for each Participant pursuant to Article V solely to
determine the amount payable to the Participant pursuant to Article VII and shall not constitute a separate fund of assets. Each such Account shall consist of such subaccounts as the Committee deems necessary or desirable for the administration of
the Plan. 
 2.2. “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. 
 2.3.
“Beneficiary” means the person(s), trust(s) or other entities the Participant designates, in accordance with procedures established by the Committee, to receive any benefits under the Plan after the death of the Participant. If the
Participant has not designated a Beneficiary, or if no Beneficiary survives the Participant, the Participant’s rights related to Common Units under the terms of the Long-Term Incentive Plan and the aggregate amount of Fee Deferrals (and
earnings thereupon) credited to the Participant’s Account shall pass by will or the laws of descent and distribution. 
 2.4.
“Board” means the Board of Directors of the Company. 
  

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 2.5. “Cessation of Service” means the removal of a Director from the Board pursuant to
applicable provisions of the Company’s by-laws or the voluntary resignation by a Director of his or her membership on the Board. With respect to non-Grandfathered Amounts, the term “Cessation of Service” shall be interpreted in a
manner consistent with the separation from service rules under section 409A of the Code. 
 2.6. “Change of Control” shall
be deemed to have occurred upon the occurrence any of the following events: 
 (a) The acquisition, after December 31, 2003, directly or
indirectly, by any Person (as defined below) or “group” (within the meaning of Sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) of “beneficial ownership” (within the
meaning of Rule 13d-3 promulgated under the Exchange Act) of: 
 (i) equity securities of Penn Virginia Corporation, a Virginia corporation
(“PVA”) that entitle the “beneficial owners” thereof to control more than fifty percent (50%) of the combined voting power of PVA, 
 (ii) equity securities of the Company that entitle the “beneficial owners” thereof to control more than fifty percent (50%) of the total combined voting power of the Company, or 
 (iii) equity securities of the Partnership that entitle the “beneficial owners” thereof to control more than fifty percent (50%) of the
total combined voting power of Common Units and Parity Units (as defined in the Partnership Agreement) of the Partnership; 
 provided, however, any
acquisition, directly or indirectly, by or from PVA, the Company, the Partnership or any Affiliate of PVA, or by any employee benefit plan (or related trust) sponsored or maintained by PVA or any Affiliate, shall not constitute a Change of Control.

 (b) Approval, after December 31, 2003, by the equity security holders of PVA or the Partnership or the occurrence of a merger,
reorganization, consolidation, exchange of equity interests, recapitalization, restructuring or other business combination that results in beneficial ownership of more than fifty percent (50%) of the total voting power of PVA or the Partnership
being transferred to a Person (as defined below), unless the equity security holders of PVA or the Partnership, as applicable, immediately before such transaction beneficially own, directly or indirectly, immediately following such transaction, at
least a majority of the combined voting power of the outstanding voting securities of the Person resulting from such transaction or the Person acquiring such properties and assets, entitled to vote generally on the election of such resulting or
acquiring Person’s directors, in substantially the same proportion as their ownership of such equity securities immediately before such transaction; 
  

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 (c) Approval, after December 31, 2003, by the equity security holders of PVA or the Partnership or
the occurrence of a sale of all or substantially all of the assets of PVA or the Partnership to a Person other than PVA or any of its Affiliates; or 
 (d) Individuals who, after December 31, 2003, constitute the Board and any new director
(other than a director designated by a Person who has entered into an agreement with the Company to effect a transaction described in clause (a), clause (b) or clause (c) of this definition or any such individual whose initial assumption
of office occurs as a result of either an actual or threatened election contest (as such terms are used in Rule 14a-l 1 of Regulation 14A promulgated under the Exchange Act) or other actual or threatened solicitation of proxies or consents) whose
election by the Board or nomination for election by the Company’s equity security holders was approved by a vote of at least two-thirds ( 2/3) of the directors then still in office who either were directors at the beginning of such period or whose election or nomination for election was previously so approved, cease for any reason to
constitute a majority of the Board. 
 2.7. “Code” means the Internal Revenue Code of 1986, as amended and the
regulations promulgated thereunder. 
 2.8. “Committee” means the Compensation Committee of the Board or such other
committee or subcommittee of the Board appointed by the Board to administer the Plan. 
 2.9. “Common Unit” means a Common
Unit of the Partnership as defined in the Partnership Agreement and awarded under the Long Term Incentive Plan. 
 2.10.
“Company” means Penn Virginia Resource GP, LLC. 
 2.11. “Deferral Agreement” means the written agreement
entered into between the Participant and the Company pursuant to Article III. 
 2.12. “Deferred Common Unit” or
“DCU” means a notional entry that is entered in a Participant’s Account and that represents the right to one Common Unit in accordance with the terms of the Long-Term Incentive Plan. 
 2.13. “Deferred Restricted Unit” or “DRU” means a notional entry that is entered in a Participant’s Account and
that represents the right to one Restricted Unit in accordance with the terms of the Long-Term Incentive Plan (and subject to the restrictions contained therein). 
 2.14. “Fee” means base compensation for services as a Non-Employee Director and shall include (a) the annual retainer, (b) board and committee meeting fees and (c) any other additional
compensation for services as a Non-Employee Director. Fees shall not include expense allowances or reimbursements. 
  

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 2.15. “Fee Deferrals” means part or all of Fees, the receipt of which is deferred by the
Participant pursuant to Section 4.1. 
 2.16. “Grandfathered Amounts” means the portion of a Participant’s Account
attributable to amounts earned and vested for purposes of section 409A of the Code as of December 31, 2004, and any earnings attributable thereto (whenever credited). 
 2.17. “Long-Term Incentive Plan” or “LTIP” means the Penn Virginia Resource GP, LLC Third Amended and Restated
Long-Term Incentive Plan, as amended from time to time. 
 2.18. “Non-Employee Director” means each director of the Company
who is not an employee of the Company or any of the Company’s subsidiaries (as defined in section 425(f) of the Code). 
 2.19.
“Normal Distribution Date” means January 1 of the calendar year following the calendar year of the earlier to occur of the Participant’s attainment of age 70 or Cessation of Service. 
 2.20. “Participant” means an individual who is eligible to participate in the Plan pursuant to Article III and who has delivered an
executed Deferral Agreement to the Committee in accordance with the provisions of Article III. Such individual shall remain a Participant in the Plan until such time as all benefits payable under the Plan have been paid in accordance with the
provisions hereof or the Plan is terminated in accordance with Article X. 
 2.21. “Partnership” means Penn Virginia
Resource Partners, L.P., a Delaware limited partnership. 
 2.22. “Partnership Agreement” means the Second Amended and
Restated Agreement of Limited Partnership of the Partnership dated as of October 25, 2007, as amended from time to time. 
 2.23.
“Person” means a “person” as defined in section 3(a)(9) of the Exchange Act, as modified, applied and used in sections 13(d) and 14(d) thereof; provided, however, a Person shall not include (a) PVA, the Company, the
Partnership or any of their respective subsidiaries, (b) a trustee or other fiduciary holding securities under an employee benefit plan of PVA, the Company, the Partnership or any of their respective subsidiaries (in its capacity as such),
(c) an underwriter temporarily holding securities pursuant to an offering of such securities, or (d) a corporation owned, directly or indirectly, by the stockholders of PVA in substantially the same character and proportions as their
ownership of equity of PVA. 
 2.24. “Plan Year” means the calendar year. 
 2.25. “Restricted Unit” means a “Restricted Unit” granted under the LTIP and subject to the restrictions thereunder.

  

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 2.26. “Tranche” means the amount of Fee Deferral and Award Deferrals credited to a
Participant’s Account during any one Plan Year. 
 2.27. “Unit” means a Common Unit or a Restricted Unit. 

2.28. “Unit Award” means an “Award” under the Long-Term Incentive Plan, which is subject to deferral hereunder and is
either a Unit or a Restricted Unit granted thereunder. 
 2.29. “Unit Award Deferrals” means part or all of the Unit Awards
payable under the Long-Term Incentive Plan, the receipt of which is deferred by the Participant pursuant to Section 4.2. 
 2.30.
“Unit Distribution” means distributions made under the terms of the LTIP with respect to any Unit deferred under this Plan 
 2.31. “Valuation Date” means the business day used for purposes of valuing the Fee Deferrals and Unit Award Deferrals credited to a Participant’s Account prior to a distribution described in Article VII.

 ARTICLE III 
 ELIGIBILITY

 3.1. Eligibility. Each Non-Employee Director who is selected by the Committee shall be eligible to become a Participant by
submitting a Deferral Agreement in accordance with Section 3.2. An eligible Director shall remain eligible to submit a Deferral Agreement until such time as the Committee affirmatively revokes such Director’s eligibility. Eligible
Directors, whether their eligibility has been revoked or not, shall remain Participants in the Plan until such time as all benefits payable under the Plan have been paid in accordance with the provisions hereof or the Plan has been terminated in
accordance with Article X. 
 3.2. Participation and Deferral Agreements. To become a Participant and receive credit for Fee Deferrals
and Unit Award Deferrals in such Participant’s Account, an eligible Non-Employee Director must deliver an executed Deferral Agreement in the form and manner prescribed by the Committee and in accordance with the restrictions described in this
Section 3.2. A Director may separately elect to defer Unit Awards (both Common Units and Restricted Units) and Fees. 
 (a) Newly
Eligible Directors. Each Director who first becomes eligible to participate in the Plan after January 1 of a Plan Year may elect to participate in the Plan by delivering an executed Deferral Agreement to the Committee within thirty
(30) days after the Committee notifies the Director of his or her eligibility to participate. Such Deferral Agreement shall be effective with regard to the Fees earned and Unit Awards that are to be granted for periods beginning on the
effective date of such Director’s Deferral Agreement. 
  

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 (b) Previously Eligible Directors. Except as provided in Section 3.2(a) above, an eligible
Director may make a deferral election with respect to a subsequent Plan Year by delivering an executed Deferral Agreement to the Committee on or before December 31 of the year immediately preceding the Plan Year to which such deferral election
is to apply. 
 (c) Subsequent Elections. A Participant’s executed Deferral Agreement with respect to Fee Deferrals and Unit
Award Deferrals shall be effective only with respect to the specific Plan Year to which such Deferral Agreement applies and shall not be effective for any subsequent Plan Year. 
 ARTICLE IV 
 CONTRIBUTIONS 
 4.1. Fee Deferrals. 
 (a) Pursuant to
the Deferral Agreement, a Participant may defer the receipt of all or any portion of Fees payable by the Company to the Participant for services to be performed during a Plan Year. The Participant’s executed Deferral Agreement, delivered to the
Committee in accordance with the provisions of Section 3.2, shall set forth an exact whole dollar amount or a whole percentage of Fees to be deferred. A Fee Deferral election with respect to any Plan Year is irrevocable once the applicable
executed Deferral Agreement is delivered to the Committee. A Fee Deferral election shall be automatically revoked in the event the Director is permitted to take a distribution due to financial hardship. Such a Director shall not be eligible to make
a new Fee Deferral election under the Plan. 
 (b) The amount of any Fees deferred with respect to any Plan Year shall reduce the amount of
such Fees otherwise payable to the Participant as of the date such payment otherwise would have been made, and the amount of such reduction shall be allocated to the Participant’s Account effective as of the date the applicable Fees would
otherwise have been payable. 
 (c) In determining the percentage amount of any Fee Deferral, the Participant’s full Fee shall be
considered without regard to any deferrals made under the Plan. In no event shall a Participant be permitted to make Fee Deferrals that exceed 100% of his or her Fees. 
 4.2. Unit Award Deferrals. 
 (a) A Participant may separately elect to defer the receipt of all or a
portion of Unit Awards under the LTIP. The Participant’s executed Deferral Agreement, delivered to the Committee in accordance with the provisions of Section 3.2, shall set forth a whole number or percentage of the type of Unit Award to be
deferred. A Unit Award Deferral election with respect to a Plan Year is irrevocable once the applicable executed Deferral Agreement is delivered to the Committee. A Unit Award Deferral election shall be 

  

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automatically revoked in the event the Director is permitted to take a distribution due to financial hardship. Such a Director shall not be eligible to make
a new Unit Award Deferral election under the Plan. 
 (b) The amount of any Unit Awards deferred with respect to any Plan Year shall reduce
the amount of such Unit Awards otherwise due to the Participant as of the date such Unit Awards otherwise would have been made, and the amount of such reduction shall be allocated to the Participant’s Account effective as of the date the
applicable Unit Award would otherwise have been made. 
 (c) A Common Unit shall be credited as a DCU to the Participant’s Account.

 (d) A Restricted Unit shall be credited as a DRU to the Participant’s Account. 
 4.3. Automatic Unit Distribution Deferral. 
 (a) If a Participant elects to defer the receipt of any Unit Awards in accordance with Section 4.2, such Participant automatically shall be deemed to have elected to defer the receipt of each Unit Distribution payable with respect to
the underlying Unit Award deferred hereunder. 
 (b) Any Unit Distribution deferred in accordance with this shall be credited to a
Participant’s Account in the same manner as Fee Deferrals. 
 ARTICLE V 
 DETERMINATION OF ACCOUNTS 
 5.1. Account Establishment. The Committee
shall establish an Account on behalf of each Participant. The establishment of an Account shall not require segregation of any funds of the Company or provide any Participant with any rights to any assets of the Company, except as a general creditor
thereof. A Participant shall have no right to receive payment of any amount credited to the Participant’s Account except as expressly provided in Article VI of this Plan. 
 5.2. Deferrals. Each Participant’s Account as of the Valuation Date shall consist of Fee Deferrals, DRUs and DCUs credited to the
Participant’s Account. Each Account shall consist of such subaccounts as the Committee deems necessary or desirable to determine the amounts payable by Tranche if different distribution elections apply with respect to such Tranches. 

5.3. Earnings on Fee Deferrals and Unit Distributions. The Fee Deferrals and Unit Distribution portion of a Participant’s Account shall be
credited with earnings quarterly, as 

  

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if the balance of that portion of such Participant’s Account which represents Fee Deferrals and Unit Distributions as of the first day of such quarter
on the first day of each quarter has been invested at a rate equal to the prime rate as correctly published in the Wall Street Journal on the last business day of the immediately preceding quarter. 
 5.4. Distributions. Any Unit Distributions payable with respect to Units underlying DRUs or DCUs, shall be credited with interest in the same
manner as Fee Deferrals as described in Section 5.3. 
 5.5. Adjustments. In the event of any distribution (whether in the form
of cash, Common Units, other securities, or other property), recapitalization, split, reverse split, reorganization, merger, consolidation, split-up, spin-off combination, repurchase, or exchange of Common Units or other securities of the
Partnership, issuance of warrants or other rights to purchase Common Units or other securities of the Partnership, or other similar transaction or event affecting the Common Units, then the Committee shall, in such manner as it may deem equitable,
in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the LTIP, adjust any or all of (i) the number and type of Common Units (or other securities or property) with respect to which
Unit Awards may be granted, and (ii) the number and type of Common Units (or other securities or property) subject to outstanding Unit Awards; provided, that the number of Common Units subject to any Unit Award shall always be a whole number.

 ARTICLE VI 
 VESTING 

6.1. Fee Deferrals. A Participant shall be one hundred percent (100%) vested at all times in the amounts of Fees elected to be deferred
under the Plan and earnings credited thereon. 
 6.2. DCUs. A Participant shall be one hundred percent (100%) vested at all times
in the DCUs credited to the Participant’s Account. 
 6.3. DRUs. DRUs credited to a Participant’s Account shall be subject
to the same vesting and forfeiture restrictions that apply to the underlying Restricted Units on which such DRU is credited. 
 6.4. Unit
Distributions. Unit Distributions paid with respect to any Unit underlying a DCU or DRU will be 100% vested at all times. 
 6.5.
Change of Control. Upon a Change of Control, all DRUs credited to a Participant’s Account shall automatically vest and become payable in full in accordance with the terms of the Long-Term Incentive Plan. For this purpose,
non-Grandfathered Amounts attributable to DRUs shall only be paid if the transaction constituting a Change of Control is a “change in control event” within the meaning of section 409A of the Code and the regulations thereunder. 

 

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 ARTICLE VII 
 DISTRIBUTIONS 
 7.1. Normal Distribution Date. Unless the Participant has elected another available
distribution date in his or her executed Deferral Agreement or the Participant dies prior to such date, the vested portion of a Participant’s Account shall be distributed to the Participant on the Participant’s Normal Distribution Date.

 7.2. Alternative Distribution Election. For each Plan Year, a Participant may elect to receive benefit distributions under the Plan
on a date selected in the Participant’s Deferral Agreement for the applicable Plan Year. In no event shall the date selected be earlier than the first day of the calendar year beginning after the third anniversary of the filing of the
applicable Deferral Agreement under Section 3.2. With respect to Grandfathered Amounts, a Participant may file an amendment to defer further the receipt of a Tranche (and earnings credited thereon) (or a portion of the Tranche) under this
paragraph only three times, and each amendment must (a) provide for a payout under this Section at a date at least twenty-four (24) months after the payout date under the election in force for such Tranche immediately prior to the filing
of such an amendment, and (b) be filed with the Committee by December 15 of the calendar year prior to the calendar year in which payment was to commence under the election then in force. With respect to non-Grandfathered Amounts, a
Participant may file an amendment to defer further the receipt of a Tranche (and earnings credited thereon) (or a portion of the Tranche) under this paragraph only three times, and each amendment (a) must provide for a payout under this Section
at a date at least sixty (60) months after the payout date under the election in force for such Tranche immediately prior to the filing of such an amendment, (b) must be filed with the Committee at least twelve (12) months prior to
the date on which the first scheduled payment was to occur under the election then in force and (c) may not take effect until at least twelve (12) months after the date on which the election is made. Any such election change with respect
to non-Grandfathered Amounts shall be made in accordance with the requirements of section 409A of the Code and the regulations thereunder and no subsequent election may result in an impermissible acceleration of payment as described in section 409A
of the Code and the regulations thereunder. 
 7.3. Hardship Withdrawals. The Committee shall establish procedures under which a
Participant may request a withdrawal of some or all of the Participant’s Account in the event of an unforeseeable severe financial emergency. In general, an unforeseeable severe financial emergency would include circumstances resulting from a
sudden and unexpected illness or accident of the Participant or of the Participant’s spouse or dependent, uninsured loss of the Participant’s property due to casualty, or other similar extraordinary and unforeseeable circumstances arising
as a result of events beyond the control of the Participant and for which the resulting financial hardship cannot be reasonably relieved through other sources of funds or by cessation of deferrals under this Plan. The Committee, in its sole and
absolute discretion, shall 

  

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determine whether any such financial emergency warrants a withdrawal from the Participant’s Account and shall determine the amount of such withdrawal so
as to limit the withdrawal to that amount (including a reasonable amount for taxes) that is required to satisfy the emergency need. In no event shall DRUs be subject to hardship withdrawals prior to the expiration of any restrictions on the
underlying Restricted Units. The Committee shall administer hardship withdrawals of non-Grandfathered Amounts in accordance with the provisions of section 409A(a)(2)(B)(ii) of the Code. 
 7.4. Death Benefits. Notwithstanding Sections 7.1 and 7.2, upon the death of a Participant, the Company shall pay to the Participant’s
Beneficiary the vested portion of the Participant’s Account within ninety (90) days following the date of the Participant’s death. 
 7.5. Form of Payment. 
 (a) Fee Deferrals and Unit Distributions. Fee Deferrals, Unit Distributions and earnings
credited thereon shall be paid in a cash lump sum. 
 (b) Unit Award Deferrals. Unit Award Deferrals shall be payable in Units in
accordance with the terms of the LTIP with respect to the type of Unit awarded (Restricted Unit or Common Unit). 
 7.6. Special 409A
Transition Election. In accordance with procedures and in a form established by the Committee, to the extent permitted under section 409A of the Code and the regulations issued thereunder, a Participant may make a one-time special election to
change the date of distribution with respect to all or a portion of his Account attributable to non-Grandfathered Amounts on or before December 31, 2007 on such terms as shall be determined by the Committee; provided, however, that such
one-time special election may not postpone a distribution that otherwise would be made in 2007 and may not accelerate a distribution otherwise scheduled for a later year into 2007. 
 ARTICLE VIII 
 NO FUNDING 
 The obligations of the Company to distribute benefits under this Plan shall be interpreted solely as an unfunded, contractual obligation to distribute
only those amounts credited to the Participant’s Account pursuant to Article V in the manner and under the conditions prescribed in Articles VI and VII. Any assets set aside, including any assets transferred to a grantor trust or purchased by
the Company with respect to amounts payable under the Plan, shall be subject to the claims of the Company’s general creditors, and no person other than the Company shall, by virtue of the provisions of the Plan, have any interest in such
assets. All amounts deferred pursuant to this Plan may, in the Committee’s discretion, be transferred to an irrevocable grantor trust as soon as practicable after such amounts are allocated to a Participant’s Account pursuant to Article
IV. 
  

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 ARTICLE IX 
 ADMINISTRATION 
 9.1. Administration. The Plan shall be administered by the Committee. The Committee
shall have authority to act to the full extent of its absolute discretion to: 
 (a) interpret the Plan; 
 (b) resolve and determine all disputes, questions or claims arising under the Plan, including the power to determine the rights of Participants and
Beneficiaries, and their respective benefits, and to remedy any ambiguities, inconsistencies or omissions in the Plan; 
 (c) create and
revise rules and procedures for the administration of the Plan and prescribe such forms as may be required for Participants to make elections under, and otherwise participate in, the Plan; and 
 (d) take any other actions and make any other determinations as it may deem necessary and proper for the administration of the Plan. 
 Any expenses incurred in the administration of the Plan shall be paid by the Company. 
 9.2. Administrative Review. Except as the Committee may otherwise determine, all decisions and determinations by the Committee shall be final and binding upon all Participants and Beneficiaries. 
 9.3. General. No member of the Committee shall participate in any matter involving any questions or decisions relating solely to his or her own
participation or benefits under the Plan. The Committee shall be entitled to rely conclusively upon, and shall be fully protected in any action or omission taken by it in good faith reliance upon the advice or opinion of any persons, firms or agents
retained by it, including but not limited to accountants, actuaries, counsel and other specialists. Nothing in this Plan shall preclude the Company from indemnifying the members of the Committee for all actions under this Plan, or from purchasing
liability insurance to protect such persons with respect to the Plan. 
 ARTICLE X 
 AMENDMENT, DISCONTINUANCE AND TERMINATION 
 Except as required by the rules of the
principal securities exchange on which the Common Units are traded, the Board or the Committee shall have the right to amend, modify, discontinue or terminate the Plan in any manner; provided, however, that no amendment, modification, discontinuance
or termination shall adversely affect the rights of Participants to amounts credited to the Accounts maintained on their behalf before such amendment, modification, discontinuance or termination. In the case of termination of the Plan, any amounts

  

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credited to the Account of a Participant may, in the sole discretion of the Committee, be distributed in full to such Participant as soon as reasonably
practicable following such termination; provided that any such distribution shall be made in accordance with the applicable requirements of Treas. Reg. section 1.409A-3(j)(4)(ix). 
 ARTICLE XI 
 MISCELLANEOUS 
 11.1. No Rights to Board Membership. Nothing in the Plan shall confer on any Director any right to continue as a member of the Board of the
Company or its subsidiaries or interfere in any way with the right of the Company, its subsidiaries and each of their equity holders to remove or not re-elect an individual from or to the Board. 
 11.2. Rights of Participants to Benefits. All rights of a Participant under the Plan to amounts credited to the Participant’s Account are
mere unsecured contractual rights of the Participant (or his or her Beneficiary) against the Company. 
 11.3. No Assignment. No
amounts credited to Accounts nor any rights or benefits under the Plan shall be subject in any way to voluntary or involuntary alienation, sale, transfer, assignment, pledge, attachment, garnishment, execution, or encumbrance, and any attempt to
accomplish the same shall be void. 
 11.4. Withholding. The Company shall have the right to deduct from any distribution made
hereunder any taxes required by law to be withheld from a Participant with respect to such payment, and, shall have the right, in accordance with this Section and Section 8(b) of the Long-Term Incentive Plan, to require that a portion of a
Participant’s Account distribution (in cash, Common Units or other property) be payable as may be necessary in the opinion of the Company to satisfy its withholding obligations for the payment of such taxes. 
 11.5. Account Statements. Periodically (as determined by the Committee), each Participant shall receive a statement indicating the amounts (and
earnings thereupon, if applicable) credited to and payable from the Participant’s Account. 
 11.6. Number. The singular shall be
read in the plural, and vice versa, whenever the context shall so require. 
 11.7. Titles. The titles to articles and sections in
this Plan are placed herein for convenience of reference only, and the Plan is not to be construed by reference thereto. 
 11.8.
Governing Law. The validity, construction and effect of the Plan and any rules or regulations relating to the Plan shall be determined in accordance with the laws of the state of Delaware without regard to its conflict of laws principles.

  

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 11.9. Other Plans. Except as specifically provided herein, nothing in this Plan shall be construed
to affect the rights of a Participant, a Participant’s Beneficiaries, or a Participant’s estate to receive any retirement or death benefit under any tax-qualified or nonqualified pension plan, deferred compensation agreement, insurance
agreement or other retirement plan of the Company. 
 11.10. Section 409A. The Plan is intended to comply with the applicable
requirements of section 409A of the Code and the regulations promulgated thereunder, and shall be administered in accordance with section 409A of the Code to the extent section 409A of the Code applies to the Plan. All payments to be made upon a
termination of employment or service under the Plan shall only be made upon a “separation from service” under section 409A of the Code. Notwithstanding anything in the Plan to the contrary, deferral elections and distributions from the
Plan shall only be made in a manner and upon an event permitted by section 409A of the Code. Except with respect to elections made in accordance with Article VII, in no event shall a Participant, directly or indirectly, designate the calendar year
of payment. 
  

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