Document:

Contribution, Conveyance and Assumption Agreement

 Exhibit 10.7 
 CONTRIBUTION, CONVEYANCE AND ASSUMPTION AGREEMENT 
 This Contribution and Assumption Agreement, dated
as of December 18, 2006 (this “Contribution Agreement”), is by and among Atlas America, Inc., a Delaware corporation (“Atlas America”), Atlas Energy Resources, LLC, a Delaware limited liability company
(“Atlas Energy”), and Atlas Energy Operating Company, LLC, a Delaware limited liability company (“Energy Operating”). The above-named entities are sometimes referred to in this Contribution Agreement each as a
“Party” and collectively as the “Parties.” 
 W I T N E S S E T H: 
 WHEREAS, Atlas America currently wholly owns the subsidiaries listed on Schedule 1 hereto (collectively, the
“Subsidiaries”) and the assets described on Schedule 2 hereto (collectively, the “Assets”) representing Atlas America’s natural gas and oil exploration, development, operation, maintenance and production
business (the “Business”); 
 WHEREAS, Atlas America has formed Atlas Energy pursuant to the Delaware LLC Act for the
purpose of acquiring, owning and operating the Business; 
 WHEREAS, in order to accomplish the objectives and purposes in the
preceding recital, the following actions have been taken prior to the date hereof (the “Pre-Closing Actions”): 
  

	 	1.	Atlas Resources, Inc., a Pennsylvania corporation, merged with and into Atlas Resources, LLC, a Pennsylvania limited liability company; 

  

	 	2.	Atlas Energy Corporation, an Ohio corporation, merged with and into Atlas Energy Ohio, LLC, an Ohio limited liability company; 

  

	 	3.	Viking Resources Corporation, a Pennsylvania corporation, merged with and into Viking Resources, LLC, a Pennsylvania limited liability company; 

  

	 	4.	REI-NY, Inc., a Delaware corporation, was converted into REI-NY, LLC, a Delaware limited liability company; 

  

	 	5.	Resource Well Services, Inc., a Delaware corporation, was converted into Resource Well Services, LLC, a Delaware limited liability company; 

  

	 	6.	AIC, Inc., a Delaware corporation, was converted into AIC, LLC, a Delaware limited liability company; 

  

	 	7.	Resource Energy, Inc., a Delaware corporation, was converted into and Resource Energy, LLC, a Delaware limited liability company; 

  

	 	8.	Atlas Noble Corp., a Delaware corporation, was converted into Atlas Noble, LLC, a Delaware limited liability company; 

  

	 	9.	Atlas America, Inc., a Pennsylvania corporation, merged with and into Atlas America, LLC, a Pennsylvania limited liability company; and 

  

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	 	10.	Energy Operating formed AER Pipeline Construction, Inc., a Delaware corporation; 

 WHEREAS, Atlas America and certain of the Subsidiaries are parties to the Gathering Agreement (as defined in Article I) and Atlas America has agreed to assume certain obligations of those Subsidiaries
thereunder; 
 WHEREAS, concurrently with the consummation of the transactions contemplated hereby, each of the following shall
occur: 
  

	 	1.	Atlas America will contribute the Assets and its 100% interest in each of the Subsidiaries (the “Equity Interests”) to Energy Operating in exchange for
(a) 30,361,746 common units (“Common Units”), (b) 748,456 Class A units (the “Class A Units”), (c) the management incentive interests (the “Management Incentive Interests”), and
(d) the right to receive $121,730,000, in part as a reimbursement of certain capital expenditures incurred with respect to the Assets and Subsidiaries; 

  

	 	2.	Atlas America will transfer to Atlas Energy Management, Inc., a Delaware corporation (“Atlas Management”), all of the Class A Units and the Management
Incentive Interests; 

  

	 	3.	In connection with the Offering, the public, through the Underwriters, will contribute $132,825,000 in cash to Atlas Energy less the Underwriters’ discounts and commissions of
$8,298,400 (the “Spread”) and a structuring fee of $996,187 in exchange for 6,325,000 Common Units; 

  

	 	4.	Atlas Energy will pay transaction expenses pursuant to the transactions contemplated by this Contribution Agreement in the amount of approximately $1.8 million (exclusive of the
Spread and the structuring fee), and distribute $121,730,000 to Atlas America; and 

  

	 	5.	In connection with the Underwriters exercise of their over-allotment option, the public, through the Underwriters, will contribute an additional $19,923,750 in cash to Atlas Energy
less the Spread of $1,244,760 and a structuring fee of $149,428 in exchange for 948,750 Common Units and the Company will use the net proceeds to redeem Common Units from Atlas America; 

 NOW, THEREFORE, in consideration of the mutual covenants, representations, warranties and agreements herein contained, the parties hereto
agree as follows: 
 ARTICLE I 
 DEFINITIONS 
 Section 1.1 Capitalized terms used herein and not otherwise defined shall have the meanings
ascribed to them below: 
 “APL” means Atlas Pipeline Partners, L.P., a Delaware limited partnership. 
  

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 “Atlas America Entities” means Atlas America and any Person controlled, directly or
indirectly, by Atlas America, other than Atlas Energy, Energy Operating and any subsidiary of any such Person. 
 “Atlas Energy
Group” means Atlas Energy, Energy Operating and any subsidiary of any such Person, treated as a single consolidated entity, and each Investment Program. 
 “Atlas Energy Assets” means the Transferred Assets and any assets and properties owned or leased by any member of the Atlas Energy Group. 
 “Authority” means (i) the United States of America, (ii) any state, province, county, municipality or other governmental
subdivision within the United States of America, (iii) any court or any governmental department, commission, board, bureau, agency or other instrumentality of the United States of America, or of any state, province, county, municipality or
other governmental subdivision within the United States of America and (iv) the National Association of Securities Dealers. 
 “Business Day” means any day other than a Saturday, a Sunday or any other day when banks are not open for business generally in the State of Delaware. 
 “Closing” means the closing of the transactions contemplated pursuant to this Contribution Agreement. 
 “Closing Date” means the date of Closing. 
 “Delaware LLC Act” means the Limited Liability Company Act of the State of Delaware, as amended and any successor to such act. 
 “Gathering Agreement” means the Master Natural Gas Gathering Agreement dated as of February 2, 2000 among Atlas America, Resource
Energy, LLC (formerly Resource Energy, Inc.), Viking Resources, LLC (formerly Viking Resources Corporation) and APL, as amended from time to time. 
 “Investment Program” means a Person principally engaged in the drilling of natural gas and oil wells for which Atlas America or any of the Subsidiaries or any of their subsidiaries acts as a general partner, managing
partner or manager and the securities of which have been offered and sold to investors. 
 “Offering” means the initial
public offering of the Common Units contemplated by the Registration Statement. 
 “Operating Agreement” means the Amended
and Restated Operating Agreement of Atlas Energy dated of even date herewith by and among Atlas America, Inc. and the members party thereto, as amended from time to time. 
 “Person” means an individual, corporation, partnership (limited or general), limited liability company, trust, joint stock company, unincorporated association or other legal entity. 
  

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 “Registration Statement” means the registration statement on Form S-1 filed with the
U.S. Securities and Exchange Commission by Atlas Energy (File No. 333-136094). 
 “Toxic Tort” means a claim or cause
of action arising from personal injury or property damage incurred by the plaintiff that is alleged to have been caused by exposure to, or contamination by, Hazardous Substances that have been released into the environment by or as a result of the
actions or omissions of the defendant. 
 “Underwriters” means those of the underwriting syndicate as referenced in the
Underwriting Agreement between UBS Securities LLC, as representative of the Underwriters, and Atlas Energy, dated as of December 12, 2006. 
 ARTICLE II 
 CONTRIBUTION AND DISTRIBUTION TRANSACTIONS 
 Section 2.1 Contribution by Atlas America to Energy Operating. 
 (a) Contribution. Atlas America hereby grants, contributes, conveys, bargains, assigns, transfers, sets over and delivers to Energy
Operating, its successors and assigns, for its and their own use forever, all right, title and interest of Atlas America in and to all of the Assets and all of the Equity Interests (together with the Assets, the “Transferred
Assets”), subject to encumbrances that do not materially adversely affect the value of the Transferred Assets or the ability of the Atlas Energy Group to own and operate the Transferred Assets in substantially the same manner as they were
operated immediately prior to the Closing Date, in exchange for (i) 30,301,746 Common Units, (ii) 748,456 Class A Units, (iii) the Management Incentive Interests and (iv) the right to receive $121,730,000, in part as a
reimbursement of certain capital expenditures made with respect to the Transferred Assets. 
 TO HAVE AND TO HOLD all of such
right, title and interest in the Transferred Assets unto Energy Operating, its successors and assigned, together with all and singular rights and appurtenances thereto in anywise belonging, subject, however, to the terms and conditions stated in
this Contribution Agreement, and in such instruments of conveyance forever. 
 (b) Assumed Liabilities. Subject to
Section 2.1(c), Energy Operating hereby irrevocably and absolutely assumes, agrees to perform, and when due, pay and discharge, only the obligations and liabilities relating to the Transferred Assets which accrue on or after the Closing Date
and only to the extent such obligations and liabilities are not overdue or delinquent on the Closing Date without regard to any grace period and without the occurrence of any increase in amounts due (the “Assumed Liabilities”);
provided, however, that said assumption and agreement to assume the Assumed Liabilities shall not (i) increase the obligation of Energy Operating with respect to the Assumed Liabilities beyond that of Atlas America,
(ii) waive any valid defense that was available to Atlas America with respect to the Assumed Liabilities or (iii) enlarge any rights or remedies of any third party under any of the Assumed Liabilities. 
  

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 (c) Prorations. All obligations and liabilities assumed by Energy Operating under
this Contribution Agreement that relate to both periods of time prior to the Closing Date and periods of time from and after the Closing Date shall be prorated as of the close of business on the Closing Date, whether or not such adjustment would
normally be made as of such time. It is the intention of the Parties that Energy Operating should operate the Business and the Transferred Assets for its own account from and after the Closing Date. 
 Section 2.2 Contribution by Atlas America to Atlas Management. Atlas America hereby grants, contributes, conveys, bargains, assigns,
transfers, sets over and delivers to Atlas Management, its successors and assigns, for its and their own use forever, all right, title and interest of Atlas America in and to (i) 748,456 Class A Units and (ii) the Management Incentive
Interests. 
 Section 2.3 General Provisions Relating to Assumption of Liabilities. Notwithstanding anything to the
contrary contained in this Agreement including the terms and provisions of this Article II, none of the Parties shall be deemed to have assumed, and none of the Transferred Assets have been or are being contributed subject to, (a) any liens or
security interests securing consensual indebtedness covering any of the Transferred Assets, except for encumbrances permitted by this Contribution Agreement, and all such liens and security interests shall be deemed to be excluded from the
assumptions of liabilities made under this Article II or (b) any of the liabilities covered by the indemnities set forth in this Contribution Agreement to the extent such liabilities are covered by such indemnities, and all such liabilities
shall be deemed to be excluded from the assumptions of liabilities made under this Article II to the extent that such liabilities are covered by such indemnities. 
 Section 2.4 Public Cash Contribution. The Parties acknowledge a capital contribution by the public through the Underwriters to Atlas Energy of $132,825,000 in cash ($123,530,413 after the Spread of
$8,298,400 and the structuring fee of $996,187) in exchange for 6,325,000 Common Units. 
 Section 2.5 Specific
Conveyances. To further evidence the contributions and conveyances of the Transferred Assets, each party making such contribution and conveyances may have executed and delivered to the party receiving such contribution certain conveyance,
assignment and bill of sale instruments (the “Specific Conveyances”). The Specific Conveyances shall evidence and perfect such sale and contribution made by this Contribution Agreement and shall not constitute a second conveyance of
any assets or interests therein and shall be subject to the terms of this Contribution Agreement. 
 Section 2.6 Payment of
Transaction Expenses by Atlas Energy. The Parties acknowledge (a) the payment by Atlas Energy, in connection with the transactions contemplated hereby, of estimated transaction expenses in the amount of $1.8 million (exclusive of the
Spread and the structuring fee) and (b) the distribution by Atlas Energy of $121,730,000 to Atlas America, in part as a reimbursement of certain capital expenditures incurred with respect to the Transferred Assets. 
 Section 2.7 Issuance of New Certificates. At the Closing, Atlas Energy shall issue to each of Atlas America and Atlas Management a
certificate or certificates, which may be held in 

  

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book entry form, representing the number of Common Units and Class A Units to be issued to each of them pursuant to this Article II. Each such
certificate shall be registered in the name of the Person or Persons specified by the recipient thereof to Atlas Energy in writing at least two Business Days prior to the Closing. 
 Section 2.8 Certificate Legends. The certificates evidencing the Common Units and Class A Units shall bear a legend substantially
in the form set forth below and containing such other information as Atlas Energy may deem necessary or appropriate: 
 THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND
NEITHER THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD,
TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER SUCH ACT AND SUCH LAWS OR PURSUANT TO AN
EXEMPTION THEREFROM WHICH, IN THE OPINION OF COUNSEL FOR THE HOLDER,
WHICH COUNSEL AND OPINION ARE REASONABLY SATISFACTORY TO COUNSEL FOR THIS
COMPANY, IS AVAILABLE. 
 ARTICLE III 
 GATHERING AGREEMENT 
 Section 3.1 Assumption of Obligations by Atlas America. Atlas America hereby expressly assumes, for itself and its successors and assigns, the obligations of each of the Atlas Energy, Energy Operating and the
Subsidiaries, as they may appear, to timely pay gathering fees to APL under Article 7 and 8 of the Gathering Agreement accruing from and after the Closing Date and agrees to keep, perform and observe all of the covenants and conditions contained
therein on the part of any of them to be kept, performed and observed from and after the Closing Date. 
 Section 3.2 Assignment
by Atlas Energy. Each of Atlas Energy and Energy Operating, on their own behalf and on behalf of the Subsidiaries, hereby irrevocably assigns, sets over, transfers and conveys to Atlas America all of the right, title and interest of any of
them in and to all of the gathering fees (i) accruing to any of them from the Investment Programs or (ii) attributable to the production interest of Atlas Energy, Energy Operating or any of the Subsidiaries for gas gathered from and after
the Closing Date pursuant to the Gathering Agreement (the “Assigned Amounts”). Each of Atlas Energy and Energy Operating shall pay, and shall cause each of the Subsidiaries to pay, the Assigned Amounts to Atlas America within 15
Business Days after the end of the month in which received by them. 
 ARTICLE IV 
 ADDITIONAL TRANSACTIONS 
 Section 4.1 Over-Allotment Option. The Parties acknowledge that the Underwriters exercised their option to purchase additional Common Units (the “Option”) in whole and that the public, through the
Underwriters, contributed additional cash of $19,923,750 in cash 

  

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($18,529,562 after the Spread of $1,244,760 and the structuring fee of $149,428) to Atlas Energy in exchange for an additional 948,750 Common Units.

 Section 4.2 Redemption of Common Units by Atlas Energy. The Parties acknowledge that Atlas Energy will use the net
proceeds from the issuance of the additional Common Units pursuant to the exercise of the Option to redeem 948,750 Common Units from Atlas America at a redemption price equal to the same net price received by Atlas Energy from the Underwriters.

 ARTICLE V 
 REPRESENTATIONS AND WARRANTIES 
 Section 5.1 Representations and Warranties of Atlas America. Atlas
America hereby represents and warrants to Atlas Energy and Energy Operating as follows as of the date of this Contribution Agreement: 
 (a) Status of Atlas America. Atlas America has been duly incorporated and is validly existing and in good standing under the laws of the State of Delaware, with all corporate power and authority necessary to
own or hold its properties and conduct the businesses in which it is engaged and to execute and deliver this Contribution Agreement and to consummate the transactions contemplated hereby. 
 (b) Title to Subsidiaries. Atlas America owns 100% of the issued and outstanding equity interests in the Subsidiaries; the
Subsidiaries own 100% of the issued and outstanding equity interests in their subsidiaries as set forth on Schedule 1; and all such equity interests have been duly authorized and validly issued in accordance with the charter documents of the
relevant entity, and Atlas America and the Subsidiaries own their respective equity interests free and clear of all liens, claims, options, charges, encumbrances or restrictions of any kind. There are no outstanding warrants, options, agreements,
convertible or exchangeable securities, phantom stock or other commitments pursuant to which any Subsidiary or any of their subsidiaries is or may become obligated to issue, sell, purchase, return or redeem any shares of capital stock or other
securities and no equity securities of any Subsidiary or any of their subsidiaries are reserved for issuance for any purpose. 
 (c) Corporate Action/Enforceability. All corporate action required to be taken by Atlas America or any of its securityholders for the authorization, execution and delivery of this Contribution Agreement and the consummation of the
transactions contemplated by this Contribution Agreement and the Pre-Closing Actions have been validly taken. This Contribution Agreement constitutes the valid and binding obligations of Atlas America, enforceable in accordance with its terms except
as such enforceability may be limited by applicable bankruptcy or other similar laws affecting the rights and remedies of creditors generally as well as by general principles of equity (regardless of whether such enforceability is considered in a
proceeding in equity or at law). 
 (d) Conflicts. None of the (i) the execution, delivery and performance of this
Contribution Agreement by Atlas America, or (ii) consummation of the transactions 

  

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contemplated hereby and the Pre-Closing Actions by Atlas America (A) conflicts or will conflict with or constitutes or will constitute a violation of
Atlas America’s or any member of the Atlas Energy Group’s certificate of incorporation, bylaws or other organizational documents, (B) conflicts or will conflict with or constitutes or will constitute a breach or violation of, or a
default (or an event that, with notice or lapse of time or both, would constitute such a default) under, any indenture, mortgage, deed of trust, loan agreement, lease or other agreement or instrument to which Atlas America or any member of the Atlas
Energy Group is a party or by which Atlas America’s or any member of the Atlas Energy Group’s properties may be bound, (C) violates or will violate any statute, law or regulation or any order, judgment, decree or injunction of any
Authority having jurisdiction over Atlas America or any member of the Atlas Energy Group or any of their respective properties or assets, or (D) results or will result in the creation or imposition of any lien, charge or encumbrance upon any
property or assets of Atlas America or any member of the Atlas Energy Group, which conflicts, breaches, violations, defaults or liens, in the case of clauses (B) or (D), would, individually or in the aggregate, have a material adverse effect on
(i) the transactions contemplated hereby or (ii) the ownership and use by Atlas Energy, Energy Operating and the Subsidiaries of the Atlas Energy Assets at or after the Closing Date (a “Material Adverse Effect”).

 (e) Consents. No permit, consent, approval, authorization, order, registration, filing or qualification of or with
any Authority having jurisdiction over Atlas America, any member of the Atlas Energy Group or any of their respective properties or by any other third party is required in connection with (i) the execution, delivery and performance of this
Contribution Agreement by Atlas America, or (ii) the consummation by Atlas America of the transactions contemplated by this Contribution Agreement and the Pre-Closing Actions, except for such consents that have been obtained or as to which the
lack thereof is not reasonably likely to have a Material Adverse Effect. 
 (f) Title to Property. Upon Closing, one or
more members of Atlas Energy Group will have: 
 (i)(A) good and defensible title to the producing oil and gas property
interests (including the wells and the working and net revenue interests attributable thereto) (the “Wells”) included in the Atlas America reserve report, dated March 31, 2006, included in Registration Statement (the
“Reserve Report”), subject only to encumbrances that do not materially adversely affect the value of such oil and gas property interests or the ability of the Atlas Energy Group to operate such oil and gas property interests in
substantially the same manner as they were operated immediately prior to the Closing Date and (B) good and defensible title to each oil and gas lease as to which proved undeveloped reserves were included in the Reserve Report (the
“Leases”), subject only to encumbrances that do not materially adversely affect the value of any such Lease or, in the event that the Atlas Energy Group does not have good and defensible title to such Lease (each, a
“Defective Lease”), then (1) the Atlas Energy Group has good and defensible title to an oil and gas lease as to which no reserves were indicated therefor in the Reserve Report (each, a “Substitute Lease”),
(2) one or more drilling locations have been identified for such Substitute Lease as of the date 

  

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hereof, (3) the Atlas Energy Group has a reasonable expectation that it will drill a well on one or more of such drilling locations on the Substitute
Lease within the 24 months following the date hereof, (4) the Atlas Energy Group has a reasonable expectation that the wells expected to be drilled at such locations on the Substitute Lease within such 24-month period are generally comparable
in reserve potential to the reserves assigned to such Defective Lease in the Reserve Report and in costs and (5) such Substitute Lease is not and has not been otherwise utilized for purposes of this clause (B) with respect to another
Defective Lease; 
 (ii) good title to the general partner interests and the limited partner interests in the Investment
Programs as set forth on Schedule 5.1(f)(ii); 
 (iii) good and marketable title in fee to all real property and
interests in real property purported to be owned in fee by any of them other than the Leases and Wells (individually, a “Owned Property”) as set forth on Schedule 5.1(f)(iii); 
 (iv) good title to the leasehold estates in all real property, personal property and interests in such property purported to be leased by
any of them other than the Leases and Wells (individually, a “Leased Property”) as set forth on Schedule 5.1(f)(iv); 
 (v) good title to all equipment, fixtures and other personal property purported to be owned by any of them other than the Wells; and 
 (vi) valid and indefeasible easement rights or fee ownership interests in and to the lands on which any Atlas Energy Asset is located as
of the Closing Date; 
 (in each case) subject only [to matters contained in the instruments of conveyance covering the Transferred Assets to
evidence such contribution and conveyance and] to encumbrances and defects that do not materially adversely affect the value of the Atlas Energy Assets or the ability of the Atlas Energy Group to own and operate the Atlas Energy Assets in
substantially the same manner as they were operated immediately prior to the Closing Date. Except as would not reasonably be expected to have a Material Adverse Effect, the Leases and all of the leases for the Leased Property are valid and in full
force and effect, and there does not exist any default or event that with notice or lapse of time, or both, would constitute a default by any of Atlas America, or any member of the Atlas Energy Group under any of them, and to the knowledge of Atlas
America, there does not exist any default or event that with notice or lapse of time, or both, would constitute a default by any other party under any of them. 
 (g) Equipment and Improvements. The equipment and improvements located on the Leases (or lands pooled therewith), Owned Property
and Leased Property are in compliance with all applicable laws and orders, and are in reasonable and serviceable condition and repair, normal wear and tear excepted, except for any such non-compliance which would not reasonably be expected to have a
Material Adverse Effect. Neither the Owned Property or the Leased Property nor the use or occupancy thereof by Atlas 

  

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America or any member of the Atlas Energy Group violates in any way any applicable laws, orders, permits, covenants, conditions and restrictions, whether
federal, state, local or, to Atlas America’s knowledge, private, except for any such violation which would not reasonably be expected to have a Material Adverse Effect. 
 (h) Intellectual Property. Schedule 5.1(h) contains a true and complete list and brief description of all patents,
trademarks, service marks, trade names, and copyrights (whether or not such trademarks, trade names, service marks and copyrights are registered), and all pending applications therefor, if any, owned by any member of the Atlas Energy Group or in
which any member of the Atlas Energy Group has any rights or licenses. No other patents, trademarks, trade names, service marks or copyrights are reasonably necessary for the conduct of the Business in substantially the same manner as presently
operated. To Atlas America’s knowledge, there is no infringement or alleged infringement by any person of any such trademark, service mark, trade name, copyright or patent. Neither Atlas America nor any member of the Atlas Energy Group has
received any notice from any person alleging any of them is infringing upon, and, to Atlas America’s knowledge, none of Atlas America or any member of the Atlas Energy Group has infringed and is not now infringing on, any trademark, service
mark, trade name, copyright or patent belonging to any other person. 
 (i) Compliance with the Laws. Atlas America and
the members of the Atlas Energy Group have complied with all, and are not in violation of any, applicable laws, permits and orders (including, any applicable building, zoning, environmental protection, water use or law, ordinance, or regulation)
affecting the ownership or operation of the Business or the Transferred Assets, except for any such non-compliance or violation which would not reasonably be expected to have a Material Adverse Effect. 
 (j) Environmental. 
 (i) Definitions. For purposes of this Contribution Agreement, the following terms shall have the following meanings: 
 (A) The term “Environmental Law(s)” means each and every law, statute, rule, regulation, order, permit, or similar
requirement of each and every Authority and common law now or hereinafter in effect, pertaining to protection of the environment, including (1) the protection of human health, safety, the environment, natural resources and wildlife or
(2) the management, manufacture, possession, presence, use, generation, transportation, treatment, storage, disposal, Release, threatened Release, abatement, removal, remediation or handling of, or exposure to, any Hazardous Substance,
including the Superfund Amendments Reauthorization Act and the Resource Conservation and Recovery Act or (3) pollution, including, as amended, CERCLA, the Solid Waste Disposal Act, 42 U.S.C. Section 6901 et seq., the Clean Air Act,
42 U.S.C. Section 7401 et seq., the Toxic Substances Control Act, the Oil Pollution Act, the Safe Drinking Water Act, the Hazardous Materials Transportation Act and the Federal Water Pollution Control Act, 33 U.S.C. Section 1251,
et seq. 
  

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 (B) The term “Hazardous Substance” means any substance which is
(1) designated, classified or defined as a hazardous substance, hazardous material, hazardous waste, pollutant or contaminant under any Environmental Laws, (2) a petroleum hydrocarbon, including crude oil or any fraction thereof,
(3) hazardous, toxic, corrosive, flammable, explosive, infectious, radioactive or carcinogenic or (4) regulated pursuant to any Environmental Laws. 
 (C) The term “Release” means any spilling, leaking, pumping, pouring, emitting, emptying, discharging, injecting,
escaping, leaching, dumping, or disposing into the environment (including the abandonment or discarding of barrels, containers, and other receptacles containing any Hazardous Substance). 
 (ii) Compliance with Environmental Laws. Except as would not reasonably be expected to have a Material Adverse Effect, Atlas
America, with respect to the Assets, and each member of the Atlas Energy Group have been and are in compliance with all applicable Environmental Laws, and there has been and is no liability against Atlas America or any member of the Atlas Energy
Group under any applicable Environmental Laws. None of Atlas America or any member of the Atlas Energy Group has any knowledge of any facts or circumstances concerning any alleged violation or liability arising under any Environmental Law with
respect to the Owned Property, the Leased Property, the Leases (or any lands pooled therewith), the Wells or the Business. 
 (iii) No Release of Hazardous Substances. Except in accordance with applicable Environmental Laws or as would not reasonably be expected to have a Material Adverse Effect, there has been no Release or threatened Release by any member
of the Atlas Energy Group or, with respect to the Assets, Atlas America, or, to Atlas America’s knowledge, by any other person of any Hazardous Substance existing on, beneath or from the surface, subsurface, ground water, sediment, rivers or
other bodies of water associated with the Owned Property, the Leased Property, the Leases (or any lands pooled therewith) or the Wells. 
 (iv) Permits. Except as would not reasonably be expected to have a Material Adverse Effect, all permits required by or issued pursuant to any Environmental Law for the ownership, use or operation of the Owned
Property, the Leased Property, the Leases or the Wells by any of Atlas America, or any member of the Atlas Energy Group have been obtained in a timely manner and are presently maintained in full force and effect. The operations of Atlas America, and
any member of the Atlas Energy Group are in material compliance with all terms and conditions of such Permits. None of Atlas America or any member of the Atlas Energy Group has received any notice or other communication and has any knowledge of any
facts or circumstances concerning any alleged violation of any such Permits. 
  

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 (v) No Proceedings. There exists no Order, notice of violation, nor any suit,
claim, proceeding, citation, directive, summons, investigation, information request or other notice pending or, to the knowledge of Atlas America, threatened pursuant to any Environmental Law relating to (A) any of Atlas America’s or any
member of the Atlas Energy Group’s ownership, lease, occupation or use of the Owned Property, the Leased Property, the Leases (or any lands pooled therewith) or the Wells, (B) any alleged violation of, or liability under, any Environmental
Law by any of Atlas America or any member of the Atlas Energy Group, or (C) to Atlas America’s knowledge, the suspected presence, Release or threatened Release of any Hazardous Substance on, under, in or from the surface, subsurface,
groundwater, sediment, rivers or other bodies of water associated with the Owned Property, the Leased Property, the Leases (or lands pooled therewith) or the Wells, nor does there exist any valid basis for any such Order, suit, claim, proceeding,
citation, directive, summons investigation, information request, notice of violation, or other notice. 
 (k) Material
Contracts. Excluding any Leases and except as set forth in Schedule 5.1(k), none of the Atlas Energy Group and, to the knowledge of Atlas America, no other party is in material breach or default of any material contract included within
the Atlas Energy Assets, including any material contract of any of the Atlas Energy Group. 
 (l) No Suspense. Except
as set forth in Schedule 5.1(l), to the knowledge of Atlas America, proceeds from the sale of all oil, condensate and gas produced from the Atlas Energy Assets are being received by a member of the Atlas Energy Group and are not being held in
suspense by a third party for any reason. Schedule 5.1(l) also lists all the amounts held in suspense by Atlas America or any member of the Atlas Energy Group with respect to any oil and gas proceeds attributable to their respective
properties and assets. 
 (m) Imbalances. Except as set forth in Schedule 5.1(m), there exists no imbalance
regarding production taken or marketed from any Lease in which any member of the Atlas Energy Group has an interest or which is included in the Assets (or from lands pooled with any such Lease) which could result in (i) a portion of any member
of the Atlas Energy Group’s interest in production therefrom (in the case of any Lease) to be taken or delivered from or after the Closing Date without such entity receiving payment therefor and at the price it would have received absent such
imbalance; (ii) any such entity being obligated to make payment to any person or entity as a result of such imbalance; or (iii) production being shut-in or curtailed from or after the Closing Date due to non-compliance with allowables,
production quotas, proration rules, or similar orders or regulations of Authorities; and no such entity will be obligated, by virtue of any prepayment arrangement, take-or-pay agreement, or similar arrangement, to deliver hydrocarbons produced from
the Atlas Energy Assets at some future time without then receiving full payment therefor. 
 (n) Transfer Restrictions.
Except as set forth in Schedule 5.1(n), there are no preferential rights of purchase that are applicable to the transactions contemplated hereby. 
  

 12 

 (o) Seismic Data. No fees will be due and owing in connection with the
transactions contemplated hereby under any agreement covering any seismic records, shot points, field notes, interpretations, and geological and geophysical information held by Atlas America or any member of the Atlas Energy Group. 
 (p) Plugging and Abandonment Obligations. Except as set forth in Schedule 5.1(p), there are no Wells located any of the
Leases (or lands pooled therewith) in which Atlas America or any member of the Atlas Energy Group has an interest where such entity is currently required by law or contract to plug and abandoned. 
 (q) Royalties and Rentals. Except for revenues which are being suspended in accordance with applicable law and except to the extent
not reasonably likely to have a Material Adverse Effect, all royalties, excess royalties, overriding royalty interests, net profit interests, production payments, and other interests burdening production from or attributable to the Atlas Energy
Assets have been properly and timely paid. 
 ARTICLE VI 
 FURTHER ASSURANCES 
 Section 6.1 Further Assurances. (a) From time to time
from and after the date of this Contribution Agreement, and without any further consideration, the Parties agree to execute, acknowledge and deliver all such additional deeds, assignments, bills of sale, conveyances, instruments, notices, releases,
acquittances and other documents, and will do all such other acts and things, all in accordance with applicable law, as may be necessary or appropriate (i) more fully to assure that the applicable Parties own all of the properties, rights,
titles, interests, estates, remedies, powers and privileges granted by this Contribution Agreement, or which are intended to be so granted, or (ii) more fully and effectively to vest in the applicable Parties and their respective successors and
assigns beneficial and record title to the interests contributed and assigned by this Contribution Agreement or intended so to be, including the Assets and to more fully and effectively carry out the purposes and intent of this Contribution
Agreement. 
 (b) Within a reasonable time after the date of this Contribution Agreement, and without any further
consideration, Atlas America agrees to cause to be delivered to Atlas Energy true and complete executed copies of (i) all the agreements of limited partnership of the Investment Programs, (ii) all the drilling operating agreements of the
Investment Programs and (iii) any other material agreements to which any of the Investment Programs is a party (collectively, the “Investment Program Documents”), in the case of each of clauses (i) through (iii), that were
not executed or made available to Atlas Energy as of the date of this Contribution Agreement. 
 Section 6.2 Other Assurances.
From time to time after the date of this Contribution Agreement, and without any further consideration, each of the Parties shall execute, acknowledged and deliver all such additional instruments, notices and other documents, and will do all
such other acts and things, all in accordance with applicable law, as may be necessary or appropriate to more fully and effectively carry out the purposes and intent of this Contribution Agreement. Without limiting the generality of the foregoing,
the Parties acknowledge that the Parties have used their good faith efforts to identify all the assets being contributed to the Atlas 

  

 13 

 
Energy Group as required in connection with the Offering. However, due to the age of some of those assets or the difficulties in locating appropriate data
with respect to some of the assets, it is possible that assets intended to be contributed to the Atlas Energy Group were not identified and therefore are not included in the Assets. It is the express intent of the Parties that the Atlas Energy Group
will own all assets of the Business as of the Closing Date and as described in the Registration Statement. To the extent any assets were not identified but are necessary to the operation of assets that were identified, then the intent of the Parties
is that all such unidentified assets are intended to be conveyed to the appropriate members of the Atlas Energy Group. To the extent such assets are identified at a later date, the Parties shall take the appropriate actions required in order to
convey all such assets to the appropriate members of the Atlas Energy Group. Likewise, to the extent that assets are identified at a later date that were not intended by the Parties to be conveyed as reflected in the Registration Statement, the
Parties shall take the appropriate actions required in order to convey all such assets to the appropriate party. 
 ARTICLE VII

 INDEMNIFICATION 
 Section 7.1 Survival of Representations and Warranties. The representations and warranties of Atlas America contained in Section 5.1 shall survive the Closing; provided that those
contained in Section 5.1(f)(i) shall expire three years following the Closing Date; those contained in Section 5.1(b) shall survive indefinitely; and all others shall expire one year following the Closing Date. 
 Section 7.2 Environmental Indemnification. Atlas America shall indemnify, defend and hold harmless the Atlas Energy Group for a period
of one year after the Closing Date from and against environmental and Toxic Tort losses (including economic losses, diminution in value suffered by third parties, and lost profits), damages, injuries (including personal injury and death),
liabilities, claims, demands, causes of action, judgments, settlements, fines, penalties, costs, and expenses (including court costs and reasonable attorney’s and expert’s fees) of any and every kind or character, known or unknown, fixed
or contingent, suffered or incurred by the Atlas Energy Group or any third party by reason of or arising out of: 
 (a) any
violation or correction of violation of Environmental Laws associated with the ownership or operation of the Atlas Energy Assets, or 
 (b) any event or condition associated with ownership or operation of the Transferred Assets (including the presence of Hazardous Substances on, under, about or migrating to or from the Atlas Energy Assets or the disposal or release of
Hazardous Substances generated by operation of the Atlas Energy Assets at non-Atlas Energy Asset locations) including (i) the cost and expense of any investigation, assessment, evaluation, monitoring, containment, cleanup, repair, restoration,
remediation, or other corrective action required or necessary under Environmental Laws, (ii) the cost or expense of the preparation and implementation of any closure, remedial, corrective action, or other plans required or necessary under
Environmental Laws, and (iii) the cost and expense for any environmental or Toxic Tort pre-trial, trial, or appellate legal or litigation support work; 

  

 14 

 
but only to the extent that such violation complained of under Section 7.2(a) or such events or conditions included under Section 7.2(b) occurred
or existed before the Closing Date (collectively, “Covered Environmental Losses”). 
 Section 7.3 Limitations
Regarding Environmental Indemnification. The aggregate liability of Atlas America in respect of all Covered Environmental Losses under Section 7.2 shall not exceed $25,000,000 and Atlas America will not have any obligation under
Section 7.2 until the Covered Environmental Losses of the Atlas Energy Group exceed $500,000. 
 Section 7.4 Indemnification
by Atlas America. In addition to and not in limitation of the indemnification provided under Sections 7.2, Atlas America shall indemnify, defend and hold harmless each member of the Atlas Energy Group and such member’s directors,
officers, members, employees and representatives from and against any losses, damages, liabilities, claims, demands, causes of action, judgments, settlements, fines, penalties, costs and expenses (including court costs and reasonable attorney’s
fees and expert’s fees) of any and every kind and character, known or unknown, fixed or contingent, suffered or incurred by the Atlas Energy Group (“Losses”), insofar as such Losses arise out of or are based upon: 

(a) a breach of the representations and warranties of Atlas America set forth in Section 5.1 hereof; 
 (b) the failure of Atlas America to perform its obligations under Section 3.1 after the Closing Date; 
 (c) currently pending legal actions against the Atlas America and its subsidiaries; 
 (d) all federal, state and local income tax liabilities attributable to the operation of the Transferred Assets prior to the Closing Date,
including any such income tax liabilities of Atlas America and its subsidiaries that may result from the consummation of the formation transactions for the Atlas Energy Group and Atlas Management; or 
 (e) the failure of Atlas America and its subsidiaries to execute, deliver and provide to Atlas Energy the Investment Program Documents.

 Section 7.6 Indemnification by Atlas Energy. Atlas Energy and Energy Operating, jointly and severally, shall indemnify,
defend and hold harmless Atlas America and such entity’s directors, officers, members, employees and representatives from and against all Losses (including court costs and reasonable attorney’s and expert’s fees) of any and every kind
or character, known or unknown, fixed or contingent, suffered or incurred by Atlas America insofar as such Losses arise out of or are based upon: 
 (a) the Assumed Liabilities, unless such indemnification would not be permitted under the Operating Agreement; or 
 (b) the failure of Atlas Energy to perform its obligations under Section 3.2 after the Closing Date. 
  

 15 

 Section 7.7 Indemnification Procedure. 
 (a) The indemnified party agrees that within a reasonable period of time after it becomes aware of facts giving rise to a claim for
indemnification under this Article VII, it will provide notice thereof in writing to the indemnifying party, specifying the nature of and specific basis for such claim. 
 (b) The indemnifying party shall have the right to control, at its sole cost and expense, all aspects of the defense of (and any
counterclaims with respect to) any claims brought against the indemnified party that are covered by the indemnification under this Article VII, including the selection of counsel, determination of whether to appeal any decision of any Authority and
the settling of any such matter or any issues relating thereto; provided, however, that no such settlement shall be entered into without the consent of the indemnified party (which consent shall not be unreasonably withheld), with the concurrence of
the Conflicts Committee of Atlas Energy in the case of the Atlas Energy Group, unless it includes a full release of the indemnified party from such matter or issues, as the case may be. 
 (c) The indemnified party agrees to cooperate fully with the indemnifying party, with respect to (i) its pursuit of insurance
coverage or recoveries with respect to the claims covered by the indemnification and (ii) all aspects of the defense of any claims covered by the indemnification, including the prompt furnishing to the indemnifying party of any correspondence
or other notice relating thereto that the indemnified party may receive, permitting the name of the indemnified party to be utilized in connection with such defense, the making available to the indemnifying party of any files, records or other
information of the indemnified party that the indemnifying party considers relevant to such defense and the making available to the indemnifying party of any employees, representatives or agents of the indemnified party; provided, however, that in
connection therewith the indemnifying party agrees to use reasonable efforts to minimize the impact thereof on the operations of the indemnified party and further agrees to maintain the confidentiality of all files, records, and other information
furnished by the indemnified party. In no event shall the obligation of the indemnified party to cooperate with the indemnifying party as set forth in the immediately preceding sentence be construed as imposing upon the indemnified party an
obligation to hire and pay for counsel in connection with the defense of any claims covered by the indemnification; provided, however, that the indemnified party may, at its own option, cost and expense, hire and pay for counsel in connection with
any such defense. The indemnifying party agrees to keep any such counsel hired by the indemnified party informed as to the status of any such defense, but the indemnifying party shall have the right to retain sole control over such defense.

 (d) The date on which written notification of a claim for indemnification is received by the indemnifying party shall
determine whether such claim is timely made. 
 (e) In determining the amount of any loss, cost, damage or expense for which a
Person is entitled to indemnification under this Contribution Agreement, the gross amount of any such indemnification will be reduced by (i) any insurance proceeds realized by the indemnified Person, and such correlative insurance benefit shall
be net of any incremental insurance premiums that become due and payable by the indemnified Person as a result of such 

  

 16 

 
claim and (ii) all amounts recovered by the indemnified Person under contractual indemnities from third Persons. 
 ARTICLE VIII 
 MISCELLANEOUS

 Section 8.1 Costs. Atlas Energy and Energy Operating shall pay all expenses, fees and costs, including all sales,
use and similar taxes arising out of the contributions, conveyances and deliveries to be made hereunder and shall pay all documentary, filing, recording, transfer, deed, and conveyance taxes and fees required in connection therewith. 
 Section 8.2 Headings; References; Interpretation. All Article and Section headings in this Contribution Agreement are for convenience
only and shall not be deemed to control or affect the meaning or construction of any of the provisions hereof. The words “hereof,” “herein” and “hereunder” and words of similar import, when used in this Contribution
Agreement, shall refer to this Contribution Agreement as a whole, including all Schedules and Exhibits attached hereto, and not to any particular provision of this Contribution Agreement. All personal pronouns used in this Contribution Agreement,
whether used in the masculine, feminine or neuter gender, shall include all other genders, and the singular shall include the plural and vice versa. The use herein of the word “including” following any general statement, term or matter
shall not be construed to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to similar items or matters, whether or not non-limiting language (such as “without limitation”,
“but not limited to”, or words of similar import) is used with reference thereto, but rather shall be deemed to refer to all other items or matters that could reasonably fall within the broadest possible scope of such general statement,
term or matter. 
 Section 8.3 Successors and Assigns. The Contribution Agreement shall be binding upon and inure to the
benefit of the Parties and their respective successors and permitted assigns. 
 Section 8.4 No Third Party Rights. The
provisions of this Contribution Agreement are intended to bind the Parties as to each other and are not intended to and do not create rights in any other person or confer upon any other person any benefits, rights or remedies and no person is or is
intended to be a third party beneficiary of any of the provisions of this Contribution Agreement. 
 Section 8.5
Counterparts. This Contribution Agreement may be executed in any number of counterparts, all of which together shall constitute one agreement binding on the parties hereto. 
 Section 8.6 Governing Law. This Contribution Agreement shall be governed by, and construed in accordance with, the laws of the State
of Delaware applicable to contracts made and to be performed wholly within such state without giving effect to conflict of law principles thereof. 
 Section 8.7 Severability. If any of the provisions of this Contribution Agreement are held by any court of competent jurisdiction to contravene, or to be invalid under, the laws of any 

  

 17 

 
political body having jurisdiction over the subject matter hereof, such contravention or invalidity shall not invalidate the entire Contribution Agreement.
Instead, this Contribution Agreement shall be construed as if it did not contain the particular provision or provisions held to be invalid and an equitable adjustment shall be made and necessary provision added so as to give effect to the intention
of the Parties as expressed in this Contribution Agreement at the time of execution of this Contribution Agreement. 
 Section 8.8
Amendment or Modification. This Contribution Agreement may be amended or modified from time to time only by the written agreement of all the Parties; provided, however, that Atlas Energy may not, without the prior approval of the Atlas
Energy conflicts committee, agree to any amendment or modification that, in the reasonable discretion of Atlas Energy, will adversely affect the holders of Atlas Energy common units. Each such instrument shall be reduced to writing and shall be
designated on its face as an Amendment to this Contribution Agreement. 
 Section 8.9 Integration. This Contribution
Agreement and the instruments referenced herein supersede all previous understandings or agreements among the Parties, whether oral or written, with respect to their subject matter. This document and such instruments contain the entire understanding
of the Parties with respect to the subject matter hereof and thereof. No understanding, representation, promise or agreement, whether oral or written, is intended to be or shall be included in or form part of this Contribution Agreement unless it is
contained in a written amendment hereto executed by the parties hereto after the date of this Contribution Agreement. 
 Section 8.10
Deed; Bill of Sale; Assignment. To the extent required and permitted by applicable law, this Contribution Agreement shall also constitute a “deed,” “bill of sale” or “assignment” of the assets and interests
referenced herein. 
 [signature page follows] 
  

 18 

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

			
	ATLAS AMERICA, INC.
		
	By:	 	  
		 	Name:
		 	Title:
	
	ATLAS ENERGY RESOURCES, LLC
		
	By:	 	  
		 	Name:
		 	Title:
	
	ATLAS ENERGY OPERATING COMPANY, LLC
		
	By:	 	 Atlas Energy Resources, LLC,
 its sole
member

		
	By:	 	  
		 	Name:
		 	Title:

  

 19 

 SCHEDULE 1 
 Subsidiaries Contributed 
 Viking Resources, LLC, a Pennsylvania limited liability company 
 AIC, LLC, a Delaware limited liability company 
 Subsidiaries: 
 Atlas Energy Ohio, LLC, an Ohio limited liability company 
 Atlas Resources, LLC, a Pennsylvania limited liability company 
 Anthem Securities, Inc., a Pennsylvania corporation 
 Resource Energy, LLC, a Delaware limited liability company 

Subsidiaries: 
 REI-NY, LLC, a
Delaware limited liability company 
 Resource Well Services, LLC, a Delaware limited liability company 
 Atlas Noble, LLC, a Delaware limited liability company 
 Atlas America, LLC,
a Pennsylvania limited liability company 
 AER Pipeline Construction, Inc., a Delaware corporation 

 SCHEDULE 2 
 Assets Contributed 
  

					
	 Entity
	  	 State of
 Formation
	  	 Equity Interest

			
	 AIC, LLC
	  	DE	  	Membership interest
			
	 Atlas Noble, LLC
	  	DE	  	Membership interest
			
	 Atlas America, LLC
	  	PA	  	Membership interest
			
	 AER Pipeline Construction, Inc.
	  	DE	  	1000 shares
			
	 Viking Resources, LLC
	  	DE	  	Membership interest
			
	 Resource Energy, LLC
	  	DE	  	Membership interest

	1.	Gas Purchase Agreement by and between Northeast Ohio Gas Marketing, Inc., and Atlas Energy Group, Inc., Atlas Resources, Inc. and Resource Energy, Inc., dated March 31, 1999
(GS-226); as amended by Assignment and Novation of Transactions by FirstEnergy Solutions Corp. (Assignor) to Amerada Hess Corporation, effective April 1, 2005 (GS-226) 

  

	2.	Base Contract for Sale and Purchase of Natural Gas entered into by and between Open Flow Gas Supply Corporation and Atlas America, Inc., dated June 5, 2006 (GS-515)

  

	3.	Base Contract for Sale and Purchase of Natural Gas entered into by and between Atlas America, Inc. and South Jersey Resources Group, LLC, dated September 12, 2006 (GS-518)

  

	4.	Base Contract for Sale and Purchase of Natural Gas entered into by and between Equitable Gas Company, a div. of Equitable Resources, Inc. and Atlas America, Inc., dated
October 1, 2006 (GS-519) 

  

	5.	Fifth Amendment to Gas Purchase Agreement by and between Atlas Energy Group Inc and WCI Steel dated July 6, 2004 

  

	6.	Exhibit B dated November 1, 2003 to Gas Purchase Agreement dated October 1, 2001 by and between Northeast Ohio Natural Gas Corporation and Atlas Energy Group (GS-223)

  

	7.	Agreement dated as of November 3, 1997 by and between Weinsz Oil & Gas, Inc., and Atlas Energy Group, Inc. 

  

	8.	Operating Agreement dated as of February 17, 1995 by and between Atlas Energy Group, Inc., and D&L Energy, Inc. 

  

	9.	Operating Agreement dated as of February         , 1999 by and between D&L Energy, Inc., and Atlas Energy Group, Inc.

													
	Unit #	  	Year	  	Make	  	Model	  	Vin#	  	Location	  	Department
	346	  	2003	  	Chevrolet	  	1500HD 4x4 W.T.	  	1GCEK14VX3Z156915	  	Deerfield	  	Production
	348	  	2003	  	Chevrolet	  	1500HD 4x4 W.T.	  	1GCEK14V03E155148	  	Deerfield	  	Production
	350	  	2003	  	Chevrolet	  	1500HD 4x4 W.T.	  	1GCEK14V53Z144803	  	Deerfield	  	Production
	356	  	2003	  	Chevrolet	  	1500HD 4x4 W.T.	  	1GCEK14V73Z261685	  	Fayette	  	Production
	362	  	2003	  	Chevrolet	  	2500HD 4x4 W.T.	  	1GCHK24U63E312174	  	Fayette	  	Drilling
	364	  	2003	  	Honda	  	TRX-250-4x4 ATV	  	478TE210334303384	  	Deerfield	  	ProductionManagement Agreement

 Exhibit 10.9 
 MANAGEMENT AGREEMENT 
 THIS MANAGEMENT AGREEMENT is made and entered into as of December 18,
2006 by and among Atlas Energy Resources, LLC, a Delaware limited liability company (“Atlas Energy”), Atlas Energy Operating Company, LLC, a Delaware limited liability company (“Operating Company” and, collectively
with Atlas Energy, the “Company”), and Atlas Energy Management, Inc., a Delaware corporation (together with its permitted assignees, the “Manager”). 
 WHEREAS, the Company desires to retain the Manager to provide management services to the Company and its subsidiaries on the terms and conditions
hereinafter set forth, and the Manager wishes to be retained to provide such services; 
 NOW THEREFORE, in consideration of the mutual
agreements herein set forth, the parties hereto agree as follows: 
 SECTION 1. DEFINITIONS. The following terms have the meanings
assigned them: 
 “Affiliate” means a Person that directly, or indirectly through one or more intermediaries,
controls or is controlled by, or is under common control with, the Person specified. 
 “Agreement” means
this Management Agreement, as amended from time to time. 
 “Board of Directors” means the Board of Directors
of Atlas Energy. 
 “Class A Unit” means a Class A unit of member interest of Atlas Energy. 

“Class C Unit” means a Class C unit of member interest in Atlas Energy. 
 “Common Unit” means a common unit of member interest of Atlas Energy. 
 “Company Account” has the meaning set forth in Section 5 hereof. 
 “Company Indemnified Party” has the meaning set forth in Section 11(b) hereof. 
 “Exchange Act” means the Securities Exchange Act at 1934, as amended. 
 “Expenses” has the meaning set forth in Section 9(a). 
 “Governing Instruments” means, with regard to any entity, the articles of incorporation and bylaws in the case of a
corporation, certificate of limited partnership (if applicable) and the partnership agreement in the case of a general or limited partnership, the articles of formation and the operating agreement in the case of a limited liability company, the
trust instrument in the case of a trust, or similar governing documents, in each case as amended from time to time. 
 “Indemnified Party” has the meaning set forth in Section 11(a) hereof. 

 “Independent Committee” means the conflicts committee or the audit
committee of the Board of Directors. 
 “Investment Company Act” means the Investment Company Act of 1940, as
amended. 
 “Omnibus Agreement” means the Omnibus Agreement between Atlas Energy and Atlas America, Inc. of
even date herewith, as the same may be amended from time to time. 
 “Person” means any individual,
corporation, partnership, joint venture, limited liability company, estate, trust, unincorporated association, any federal, state, county or municipal government or any bureau, department or agency thereof and any fiduciary acting in such capacity
on behalf of any of the foregoing. 
 “Subsidiary” means any subsidiary of the Company; any partnership, the
general partner of which is the Company or any subsidiary of the Company; and any limited liability company, the managing member of which is the Company or any subsidiary of the Company. 
 SECTION 2. APPOINTMENT AND DUTIES OF THE MANAGER. 
 (a) The Company hereby appoints the Manager to manage the business of the Company and its Subsidiaries subject to the further terms and conditions set forth in this Agreement and the Manager hereby agrees to use its
commercially reasonable efforts to perform each of the duties set forth herein. During the term of this Agreement, the Manager shall provide, or cause another Person or Persons to provide, the services as set forth in this Agreement to the Company,
provided that, in the event the Manager causes another Person or Persons to provide any of the services required to be provided by the Manager hereunder, the Manager shall remain responsible for the provision of such services pursuant to the terms
of this Agreement. 
 (b) The Manager, in its capacity as manager of the day-to-day operations of the Company, at all times
will be subject to the supervision of the Board of Directors and will have only such functions and authority as the Company may delegate to it including, without limitation, the functions and authority identified herein and delegated to the Manager
hereby. The Manager will be responsible for the day-to-day operations of the Company and will perform (or cause to be performed) such services and activities relating to the assets and operations of the Company as may be appropriate, including,
without limitation: 
 (i) providing executive and administrative personnel, office space and office services required in
rendering services to the Company; 
 (ii) investigating, analyzing and proposing possible acquisition and investment
opportunities; 
 (iii) evaluating and recommending to the Board of Directors and officers of the Company hedging strategies
and engaging in hedging activities on behalf of the Company, consistent with such strategies, as so modified from time to time; 
  

 2 

 (iv) negotiating agreements on the Company’s behalf; 
 (v) communicating on behalf of the Company with the holders of any equity or debt securities of the Company as required to satisfy the
reporting and other requirements of any governmental bodies or agencies or trading markets and to maintain effective relations with such holders; 
 (vi) counseling the Company in connection with policy decisions to be made by the Board of Directors; 
 (vii) furnishing reports and statistical and economic research to the Company regarding the Company’s activities and services performed for the Company by the Manager; 
 (viii) monitoring the operating performance of the Company and providing periodic reports with respect thereto to the Board of Directors,
including comparative information with respect to such operating performance and budgeted or projected operating results; 
 (ix) at the direction of audit committee of the Board of Directors, causing the Company to retain qualified accountants and legal counsel, as applicable, to assist in developing appropriate accounting procedures, compliance procedures and
testing systems with respect to financial reporting obligations and to conduct quarterly compliance reviews with respect thereto; 
 (x) causing the Company to qualify to do business in all applicable jurisdictions and to obtain and maintain all appropriate licenses; 
 (xi) assisting the Company in complying with all regulatory requirements applicable to the Company in respect of its business activities, including preparing or causing to be prepared all financial statements required
under applicable regulations and contractual undertakings and all reports and documents, if any, required under the Exchange Act; 
 (xii) handling and resolving all claims, disputes or controversies (including all litigation, arbitration, settlement or other proceedings or negotiations) in which the Company may be involved or to which the Company may be subject
arising out of the Company’s day-to-day operations, subject to such limitations or parameters as may be imposed from time to time by the Board of Directors; 
 (xiii) using commercially reasonable efforts to cause expenses incurred by or on behalf of the Company to be commercially reasonable or
commercially customary and within any budgeted parameters or expense guidelines set by the Board of Directors from time to time; 
 (xiv) advising the Company with respect to obtaining financing for its operations; 
  

 3 

 (xv) performing such other services as may be required from time to time for management
and other activities relating to the assets of the Company as the Board of Directors shall reasonably request or the Manager shall deem appropriate under the particular circumstances; 
 (xvi) obtain and maintain, for and on behalf of the Company, insurance coverages with respect to the Company and its business and
operations, including errors and omissions insurance with respect to the services provided by the Manager pursuant to this Agreement, in each case in the types and minimum limits as the Manager determines to be appropriate and as is consistent with
standard industry practice; and 
 (xvii) using commercially reasonable efforts to cause the Company to comply with all
applicable laws. 
 (c) Subject to Section 2(a), the Manager may enter into agreements with other parties, including its
Affiliates, for the purpose of engaging one or more parties for and on behalf, and at the sole cost and expense, of the Company to provide services to the Company pursuant to agreement(s) with terms which are then customary for agreements
regarding the provision of services to companies that have assets similar in type, quality and value to the assets of the Company; provided, that any such agreements entered into with Affiliates of the Manager shall be on terms no more
favorable to such affiliate than would be obtained from a third party on an arm’s-length basis and shall include such customary warranties and guarantees as may be reasonably required with respect to the goods and services so furnished.

 (d) The Manager may retain, for and on behalf, and at the sole cost and expense, of the Company, such services of
accountants, legal counsel, appraisers, insurers, brokers, transfer agents, registrars, developers, investment banks, financial advisors, banks and other lenders and others as the Manager deems necessary or advisable in connection with the
management and operations of the Company. Notwithstanding anything contained herein to the contrary, the Manager shall have the right to cause any such services to be rendered by its employees or Affiliates. The Company shall pay or reimburse the
Manager or its Affiliates performing such services for the cost thereof; provided, that such costs and reimbursements are no greater than those which would be payable to outside professionals or consultants engaged to perform such services
pursuant to agreements negotiated on an arm’s-length basis. 
 (e) The Manager shall prepare, or cause to be prepared, at
the sole cost and expense of the Company, all reports, financial or otherwise, with respect to the Company reasonably required by the Board of Directors in order for the Company to comply with its Governing Instruments, or any other materials
required to be filed with any governmental body or agency, and shall prepare, or cause to be prepared, all materials and data necessary to complete such reports and other materials including, without limitation, an annual audit of the Company’s
books of account by a nationally recognized independent accounting firm. 
 (f) If the Manager uses or licenses intellectual
property owned by Third Parties in the performance of services under this Agreement, the Manager shall obtain and maintain any such licenses and authorizations necessary to authorize its use of such intellectual property in connection with such
services. 
  

 4 

 (g) In performing its duties under this Section 2, the Manager shall be entitled to
rely reasonably on qualified experts and professionals (including, without limitation, accountants, legal counsel and other professional service providers) hired by the Manager at the Company’s sole cost and expense. 
 SECTION 3. ADDITIONAL ACTIVITIES OF THE MANAGER. 
 (a) Subject to the provisions of the Omnibus Agreement, nothing in this Agreement shall prevent the Manager or any of its Affiliates, officers, directors or employees, from engaging in other businesses or from
rendering services of any kind to any other Person, whether or not the business activities of any such other Person or entity are similar to or compete with those of the Company. 
 (b) Directors, officers, employees and agents of the Manager or Affiliates of the Manager may serve as directors, officers, employees,
agents, nominees or signatories for the Company or any Subsidiary, to the extent permitted by their Governing Instruments or by any resolutions duly adopted by the Board of Directors pursuant to the Company’s Governing Instruments. When
executing documents or otherwise acting in such capacities for the Company, such Persons shall use their respective titles in the Company. 
 (c) The Company (including the Board of Directors) agrees to take all actions reasonably required to permit and enable the Manager to carry out its duties and obligations under this Agreement. If the Manager is
not able to provide a service, or in the reasonable judgment of the Manager it is not prudent to provide a service, without the approval of the Board of Directors or the Independent Committee, as applicable, then the Manager shall be excused from
providing such service (and shall not be in breach of this Agreement) until the applicable approval has been obtained. 
 SECTION 4.
AGENCY. The Manager shall act as agent of the Company in performing its services hereunder. 
 SECTION 5. BANK ACCOUNTS. At the
direction of the Board of Directors, the Manager may establish and maintain one or more bank accounts in the name of the Company or any Subsidiary (any such account, a “Company Account”), and may collect and deposit funds into any
such Company Account or Company Accounts, and disburse funds from any such Company Account or Company Accounts, under such terms and conditions as the Board of Directors may approve; and the Manager shall from time to time render appropriate
accountings of such collections and payments to the Board of Directors and, upon request, to the auditors of the Company or any Subsidiary. 
 SECTION 6. RECORDS; CONFIDENTIALITY. The Manager shall maintain appropriate books of accounts and records relating to services performed under this Agreement, and such books of account and records shall be accessible for inspection
by representatives of the Company or any Subsidiary at any time during normal business hours upon one (1) business day’s advance written notice. The Manager shall keep confidential any and all information obtained in connection with the
services rendered under this Agreement and shall not disclose any such information (or use the same except in furtherance of its duties under this 

  

 5 

 
Agreement) to nonaffiliated third parties except (i) with the prior written consent of the Board of Directors, (ii) to legal counsel,
accountants and other professional advisors; (iii) to appraisers, financing sources and others in the ordinary course of the Company’s business; (iv) to governmental officials having jurisdiction over the Company; (v) in
connection with any governmental or regulatory filings of the Company or disclosure or presentations to Company investors; or (vi) as required by law or legal process to which the Manager or any Person to whom disclosure is permitted hereunder
is a party provided, however, that the Manager shall require such third parties to agree to maintain the confidentiality of all such information disclosed. The foregoing shall not apply to information which has previously become
publicly available through the actions of a Person other than the Manager not resulting from the Manager’s violation of this Section 6. The provisions of this Section 6 shall survive the expiration or earlier termination of this
Agreement for a period of one year. 
 SECTION 7. OBLIGATIONS OF MANAGER; RESTRICTIONS. 
 (a) The Manager shall refrain from any action that, in its sole judgment made in good faith, (i) would adversely affect the
Company’s status as an entity excluded from investment company status under the Investment Company Act or (ii) would violate any law, rule or regulation of any governmental body or agency having jurisdiction over the Company or any
Subsidiary or that would otherwise not be permitted by the Governing Instruments. If the Manager is ordered to take any such action by the Board of Directors, the Manager shall promptly notify the Board of Directors of the Manager’s judgment
that such action would adversely affect such status or violate any such law, rule or regulation or the Governing Instruments. Notwithstanding the foregoing, the Manager, its directors, officers, stockholders and employees shall not be liable to the
Company or any Subsidiary, the Board of Directors, or the Company’s members, for any act or omission by the Manager, its directors, officers, stockholders or employees except as provided in Section 11 of this Agreement. 
 SECTION 8. ISSUANCE OF UNITS. Simultaneously with the execution hereof, the Manager shall receive 748,456 Class A Units and all of the Class
C Units. During the term of this Agreement, the Manager shall not sell, transfer, mortgage, pledge, hypothecate, grant a security interest or otherwise dispose of any of the Class A Units and Class C Units owned by the Manager. 
 SECTION 9. EXPENSES OF THE COMPANY. The Company shall pay all of its expenses and shall reimburse the Manager and its Affiliates for documented
expenses of the Manager and its Affiliates incurred on its behalf (collectively, the “Expenses”). The Expenses shall be charged to the Company without mark-up, interest or other profit to the Manager or its Affiliates. Expenses
include all costs and expenses which are expressly designated elsewhere in this Agreement as the Company’s, together with the following: 
 (a) costs of legal, tax, accounting, consulting, auditing, administrative and other similar services rendered for the Company by providers retained by the Manager or, if provided by the employees of the Manager or its
Affiliates, in amounts which are no greater than those which would be payable to outside professionals or consultants engaged to perform such services pursuant to agreements negotiated on an arm’s-length basis; 
  

 6 

 (b) the compensation and expenses of the Company’s directors and the cost of
liability insurance to indemnify the Company’s directors and officers; 
 (c) costs associated with the establishment and
maintenance of any credit facilities and other indebtedness of the Company (including commitment fees, accounting fees, reasonable legal fees, closing and other costs) or any securities offerings of the Company; 
 (d) expenses connected with communications to holders of securities of the Company or its Subsidiaries and other bookkeeping and clerical
work necessary in maintaining relations with holders of such securities and in complying with the continuous reporting and other requirements of governmental bodies or agencies, including, without limitation, all costs of preparing and filing
required reports with the Securities and Exchange Commission, the costs (including transfer agent and registrar costs) in connection with the listing and/or trading of the Company’s securities on any exchange or inter-dealer quotation system,
the fees to any such exchange or inter-dealer quotation system in connection with its listing, costs of complying with the rules, regulations or policies of such exchange or inter-dealer quotation system, costs of preparing, printing and mailing the
Company’s annual report to its stockholders and proxy materials with respect to any meeting of the stockholders of the Company; 
 (e) the allocable costs associated with any computer software or hardware, electronic equipment or purchased information technology services from third party vendors that is used for the Company; 
 (f) reasonable expenses incurred by managers, officers, employees and agents of the Manager and its Affiliates for travel on the
Company’s behalf and other reasonable out-of-pocket expenses; 
 (g) the costs of maintaining compliance with all
federal, state and local rules and regulations or any other regulatory agency; 
 (h) all taxes and license fees; 

(i) all insurance costs incurred in connection with the operation of the Company’s business except for the costs attributable to
the insurance that the Manager elects to carry for itself and its employees; 
 (j) costs and expenses incurred in contracting
with third parties, including Affiliates of the Manager, for the servicing and special servicing of assets of the Company; 
 (k) expenses relating to any office(s) or office facilities, including but not limited to disaster backup recovery sites and facilities, maintained for the Company separate from the office or offices of the Manager; 
 (l) expenses connected with the payments of interest, dividends or distributions in cash or any other form authorized or caused to be made
by the Board of Directors to or on account of the holders of securities of the Company or its Subsidiaries, including, without limitation, in connection with any dividend reinvestment plan; 
  

 7 

 (m) any judgment or settlement of pending or threatened proceedings (whether civil,
criminal or otherwise) against the Company or any Subsidiary, or against any trustee, director or officer of the Company or of any Subsidiary in his or her capacity as such for which the Company is required to indemnify such trustee, director
or officer by any court or governmental agency, or settlement of pending or threatened proceedings or by the charter and bylaws of the Company; 
 (n) the allocable portion of salaries and other compensation, rent, telephone, utilities, office furniture, equipment, machinery and other office, internal and overhead expenses of the Manager and its Affiliates
required for, and based on the percentage of time spent by personnel of the Manager and its Affiliates on, the Company’s operations (provided, that the allocation of compensation expense shall be determined based on the Manager’s good
faith estimate of the value of each Person’s services performed on the Company’s business and affairs, subject to the periodic review and approval of the Independent Committee); and 
 (o) all other expenses actually incurred by the Manager or its Affiliates which are reasonably necessary for the performance by the
Manager of its duties and functions under this Agreement. 
 The provisions of this Section 9 shall survive the expiration or earlier
termination of this Agreement to the extent such expenses have previously been incurred or are incurred in connection with such expiration or termination. 
 SECTION 10. CALCULATIONS OF EXPENSES. 
 The Manager shall prepare a statement documenting the
Expenses of the Company and the Expenses incurred by the Manager on behalf of the Company during each calendar month, and shall deliver such statement to the Company within 20 days after the end of each calendar month. Expenses incurred by the
Manager on behalf of the Company shall be reimbursed by the Company to the Manager on the first business day of the month immediately following the date of delivery of such statement. The provisions of this Section 10 shall survive the
expiration or earlier termination of this Agreement. 
 SECTION 11. LIMITS OF MANAGER RESPONSIBILITY; INDEMNIFICATION. 
 (a) The Manager assumes no responsibility under this Agreement other than to render the services called for under this Agreement in good
faith and shall not be responsible for any action of the Board of Directors in following or declining to follow any advice or recommendations of the Manager, including as set forth in Section 7(a) of this Agreement. The Manager, its
stockholders, directors, officers, employees and Affiliates will not be liable to the Company or any Subsidiary, to the Board of Directors, or the Company’s or any Subsidiary’s stockholders, unitholders or partners for any acts or
omissions by the Manager, its members, managers, officers, employees or Affiliates, pursuant to or in accordance with this Agreement, except by reason of acts constituting gross negligence, bad faith, willful misconduct, fraud or knowing violation
of criminal law in the performance of the Manager’s duties under this Agreement. The Company shall, to the fullest extent lawful, reimburse, indemnify, defend and hold the Manager, its stockholders, directors, officers, employees and Affiliates
(each, an 

  

 8 

 
“Indemnified Party”), harmless of and from any and all expenses, losses, damages, liabilities, demands, charges and claims of any nature
whatsoever (including reasonable attorneys’ fees) (“Losses”) in respect of or arising from any acts or omissions of such Indemnified Party made in good faith in the performance of the Manager’s duties under this Agreement
and not constituting such Indemnified Party’s gross negligence, bad faith, willful misconduct, fraud or knowing violation of criminal law in the performance of the Manager’s duties under this Agreement. 
 (b) The Manager shall, to the full extent lawful, reimburse, indemnify and hold the Company, its unitholders, directors, officers and
employees and its affiliates (each, a “Company Indemnified Party”), harmless of and from any and all Losses in respect of or arising from the Manager’s gross negligence, bad faith, willful misconduct, fraud or knowing violation
of criminal law in the performance of its duties under this Agreement or any claims by Manager’s or its Affiliates’ employees relating to the terms and conditions of their employment. 
 (c) EXCEPT AS EXPRESSLY PROVIDED IN THIS SECTION 11, THE DEFENSE AND INDEMNITY OBLIGATIONS IN THIS SECTION 11 SHALL APPLY REGARDLESS OF
CAUSE OR OF ANY NEGLIGENT ACTS OR OMISSION (INCLUDING SOLE NEGLIGENCE, CONCURRENT NEGLIGENCE OR STRICT LIABILITY), BREACH OF DUTY (STATUTORY OR OTHERWISE), VIOLATION OF LAW OR OTHER FAULT OF ANY INDEMNIFIED PARTY OR COMPANY INDEMNIFIED PARTY, OR ANY
PRE-EXISTING DEFECT; PROVIDED, HOWEVER, THAT THIS PROVISION SHALL IN NO WAY LIMIT OR ALTER ANY QUALIFICATIONS SET FORTH IN SUCH DEFENSE AND INDEMNITY OBLIGATIONS EXPRESSLY RELATING TO GROSS NEGLIGENCE, INTENTIONAL MISCONDUCT OR BREACH OF THIS
AGREEMENT. 
 SECTION 12. NO JOINT VENTURE. Nothing in this Agreement shall be construed to make the Company and the Manager partners
or joint venturers or impose any liability as such on either of them. 
 SECTION 13. TERMINATION. 
 (a) This Agreement may be terminated by the Manager at any time after December 18, 2016 upon at least 90 days’ advance written
notice to the Company. 
 (b) This Agreement may be terminated by the
Company if such termination is approved by the unitholders holding at least 66 2/3% of the outstanding Common
Units (including Common Units held by the Manager and its Affiliates). 
 (c) In the event of termination of this
Agreement by the Company, if the Company retains a successor manager, the Manager shall have the option exercisable prior to the effective date of the departure of the Manager to require its successor to purchase its Class A Units and its Class
C Units (collectively, the “Combined Interest”) in exchange for an amount in cash equal to the fair market value of the Combined Interest, such amount to be determined and payable as of the effective date of the Manager’s
departure or, if there is no agreement as to the fair market value of the Combined Interest at the effective date of departure, within 10 days after such fair market value is determined pursuant to this Section 11.3(c). The Manager shall be
entitled to receive all reimbursements due to it pursuant to Section 9, including any employee- 

  

 9 

 
related liabilities (including severance liabilities) incurred in connection with the termination of any employees employed by the Manager or its Affiliates
for the benefit of the Company. 
 For purposes of this Section 11.3(c), the fair market value of the Combined Interest shall be
determined by agreement between the Manager and its successor or, failing agreement within 30 days after the effective date of the Manager’s departure, by an independent investment banking firm or other independent expert selected by the
Manager and its successor, which, in turn, may rely on other experts, and the determination of which shall be conclusive as to such matter. If such parties cannot agree upon one independent investment banking firm or other independent expert within
45 days after the effective date of such departure, then the Manager shall designate an independent investment banking firm or other independent expert, the successor shall designate an independent investment banking firm or other independent
expert, and such firms or experts shall mutually select a third independent investment banking firm or independent expert, which third independent investment banking firm or other independent expert shall determine the fair market value of the
Combined Interest. In making its determination, such third independent investment banking firm or other independent expert may consider the then current trading price of Common Units on any national securities exchange on which the Common Units are
then listed or admitted for trading, the value of the Company’s consolidated assets, the rights and obligations of the Manager and other factors it may deem relevant. 
 (d) If the Combined Interest is not purchased in the manner set forth in Section 11.3(c), the departing Manager’s Class A
Units shall be converted into Common Units on a one-for-one basis and its Class C Units shall be converted into Common Units pursuant to a valuation made by an investment banking firm or other independent expert selected pursuant to
Section 11.3(c). For purposes of this Agreement, conversion of the Combined Interest to Common Units will be characterized as if the Manager (or its transferee) contributed its Combined Interest to Atlas Energy in exchange for the newly issued
Common Units. 
 (e) If this Agreement is terminated pursuant to this Section 13, such termination shall be without any
further liability or obligation of either party to the other, except as provided in Sections 6, 9, 11 and 13(d) of this Agreement. 
 SECTION
14. ASSIGNMENT. This Agreement may not be assigned by any party hereto without the prior written consent of the other party hereto; provided, however, that the Company, without the consent of the Manager, may assign this
Agreement to a Person which is a successor (by merger, consolidation or purchase of assets) to the Company, in which case such successor organization shall be bound under this Agreement and by the terms of such assignment in the same manner as
the Company is bound under this Agreement 
 SECTION 15. RELEASE OF MONEY OR OTHER PROPERTY UPON WRITTEN REQUEST. To the extent the
Manager shall have charge or possession of any of the Company’s assets in connection with the provision of services under this Agreement, the Manager shall separately maintain, and not commingle, the assets of the Company with those of the
Manager or any other Person. The Manager agrees that any money or other property of the Company or Subsidiary held by the Manager under this Agreement shall be held by the Manager as custodian for the Company or Subsidiary, and the Manager’s
records shall be appropriately marked clearly 

  

 10 

 
to reflect the ownership of such money or other property by the Company or such Subsidiary. Upon the receipt by the Manager of a written request signed by a
duly authorized officer of the Company requesting the Manager to release to the Company or any Subsidiary any money or other property then held by the Manager for the account of the Company or any Subsidiary under this Agreement, the Manager shall
release such money or other property to the Company or any Subsidiary within a reasonable period of time, but in no event later than 60 days following such request. The Manager shall not be liable to the Company, any Subsidiary, or the
Company’s or a Subsidiary’s stockholders, unitholders or partners for any acts performed or omissions to act by the Company or any Subsidiary in connection with the money or other property released to the Company or any Subsidiary in
accordance with the third sentence of this Section 15. The Company and any Subsidiary shall indemnify the Manager and its members, managers, officers and employees against any and all expenses, losses, damages, liabilities, demands, charges and
claims of any nature whatsoever, which arise in connection with the Manager’s release of such money or other property to the Company or any Subsidiary in accordance with the terms of this Section. Indemnification pursuant to this provision
shall be in addition to any right of the Manager to indemnification under Section 11 of this Agreement. 
 SECTION 16.
REPRESENTATIONS AND WARRANTIES. 
 (a) The Company hereby represents and warrants to the Manager as follows:

 (i) The Company is a limited liability company duly organized, validly existing and in good standing under the laws of the
State of Delaware, has the limited liability company power to own its assets and to transact the business in which it is now engaged and is duly qualified as a foreign limited liability company and in good standing under the laws of each
jurisdiction where its ownership or lease of property or the conduct of its business requires such qualification, except for failures to be so qualified, authorized or licensed that could not in the aggregate have a material adverse effect on the
business operations, assets or financial condition of the Company and its subsidiaries, taken as a whole. 
 (ii) The Company
has the limited liability power and authority to execute, deliver and perform this Agreement and all obligations required hereunder and has taken all necessary limited liability company action to authorize this Agreement on the terms and conditions
hereof and the execution, delivery and performance of this Agreement and all obligations required hereunder. No consent of any other person, including unitholders or creditors of the Company, and no license, permit, approval or authorization of,
exemption by, notice or report to, or registration, filing or declaration with, any governmental authority is required by the Company in connection with this Agreement or the execution, delivery or performance of this Agreement and all obligations
required hereunder. This Agreement has been, and each instrument or document required hereunder will be, executed and delivered by a duly authorized officer of the Company, and this Agreement constitutes, and each instrument or document required
hereunder when executed and delivered hereunder will constitute, the valid and binding obligation of the Company enforceable against the Company in accordance with its terms. 
 (iii) The execution, delivery and performance of this Agreement and the documents or instruments required hereunder will not violate any
provision of any existing 

  

 11 

 
law or regulation binding on the Company, or any order, judgment, award or decree of any court, arbitrator or governmental authority binding on the Company,
or the charter or bylaws of, or any securities issued by, the Company or of any mortgage, indenture, lease, contract or other agreement, instrument or undertaking to which the Company is a party or by which the Company or any of its assets may be
bound, the violation of which would have a material adverse effect on the business operations, assets or financial condition of the Company, and will not result in, or require, the creation or imposition of any lien on any of its property, assets or
revenues pursuant to the provisions of any such mortgage, indenture, lease, contract or other agreement, instrument or undertaking. 
 (b) The Manager hereby represents and warrants to the Company as follows: 
 (i) The Manager is a corporation duly
organized, validly existing and in good standing under the laws of the State of Delaware, has the corporate power to own its assets and to transact the business in which it is now engaged and is duly qualified to do business and is in good standing
under the laws of each jurisdiction where its ownership or lease of property or the conduct of its business requires such qualification, except for failures to be so qualified, authorized or licensed that could not in the aggregate have a material
adverse effect on the business operations, assets or financial condition of the Manager. 
 (ii) The Manager has the corporate
power and authority to execute, deliver and perform this Agreement and all obligations required hereunder and has taken all necessary corporate action to authorize this Agreement on the terms and conditions hereof and the execution, delivery and
performance of this Agreement and all obligations required hereunder. No consent of any other person including, without limitation, stockholders or creditors of the Manager, and no license, permit, approval or authorization of, exemption by, notice
or report to, or registration, filing or declaration with, any governmental authority is required by the Manager in connection with this Agreement or the execution, delivery or performance of this Agreement and all obligations required hereunder.
This Agreement has been, and each instrument or document required hereunder will be, executed and delivered by a duly authorized agent of the Manager, and this Agreement constitutes, and each instrument or document required hereunder when executed
and delivered hereunder will constitute, the valid and binding obligation of the Manager enforceable against the Manager in accordance with its terms. 
 (iii) The execution, delivery and performance of this Agreement and the documents or instruments required hereunder, will not violate any provision of any existing law or regulation binding on the Manager, or any
order, judgment, award or decree of any court, arbitrator or governmental authority binding on the Manager, or the charter or bylaws of, or any securities issued by, the Manager or of any mortgage, indenture, lease, contract or other agreement,
instrument or undertaking to which the Manager is a party or by which the Manager or any of its assets may be bound, the violation of which would have a material adverse effect on the business operations, assets or financial condition of the Manager
and its subsidiaries, taken as a whole, and will not result in, or require, the creation or imposition of any lien on any of its property, assets or revenues pursuant to the provisions of any such mortgage, indenture, lease, contract or other
agreement, instrument or undertaking. 
  

 12 

 SECTION 17. NOTICES. Unless expressly provided otherwise in this Agreement, all notices, requests,
demands and other communications required or permitted under this Agreement shall be in writing and shall be deemed to have been duly given, made and received when delivered against receipt or upon actual receipt of (i) personal delivery,
(ii) delivery by reputable overnight courier, (iii) delivery by confirmed facsimile transmission or (iv) delivery by registered or certified mail, postage prepaid, return receipt requested, addressed as set forth below: 
 (a) If to the Company: 
 Atlas Energy Resources, LLC 
 311 Rouser Road 
 Moon Township, PA 15108 
 Attention: Chief Executive Officer 
 (b) If to the Manager: 
 Atlas Energy Management, Inc. 
 311 Rouser Road 
 Moon Township, PA 15108 
 Attention: Chief Executive Officer 
 Either party may alter the address to which communications or copies are to be sent by giving notice of such change of address in conformity with the provisions of this Section 19 for the giving of notice. 
 SECTION 18. BINDING NATURE OF AGREEMENT; SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective heirs, personal representatives, successors and permitted assigns as provided in this Agreement. Each of the Company and the Manager agrees that the representations, warrantees, covenants and agreements of the Company
contained herein are made on behalf of the Company and its Subsidiaries for the benefit of the Manager, and the representations, warranties, covenants and agreements of the Manager are for the benefit of the Company and its Subsidiaries. 

SECTION 19. ENTIRE AGREEMENT; AMENDMENT. This Agreement contains the entire agreement and understanding among the parties hereto with respect
to the subject matter of this Agreement, and supersedes all prior and contemporaneous agreements, understandings, inducements and conditions, express or implied, oral or written, of any nature whatsoever with respect to the subject matter of this
Agreement. This Agreement may not be modified or amended other than by an agreement in writing signed by the parties hereto; provided, however, that the Company may not, without the prior approval of the Independent Committee, agree to
any amendment or modification of this Agreement that will adversely affect the holders of Common Units. Each such instrument shall be reduced to writing and shall be designated on its face an “Amendment,” “Addendum” or a
“Restatement” to this Agreement. 
  

 13 

 SECTION 20. GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS
AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF DELAWARE. 
 SECTION 21. NO
WAIVER; CUMULATIVE REMEDIES. No failure to exercise and no delay in exercising, on the part of any party hereto, any right, remedy, power or privilege hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any
right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided are cumulative and not exclusive
of any rights, remedies, powers and privileges provided by law. No waiver of any provision hereto shall be effective unless it is in writing and is signed by the party asserted to have granted such waiver. 
 SECTION 22. COSTS AND EXPENSES. Each party hereto shall bear its own costs and expenses (including the fees and disbursements of counsel and
accountants) incurred in connection with the negotiations and preparation of and the closing under this Agreement, and all matters incident thereto. 
 SECTION 23. HEADINGS. The headings of the sections of this Agreement have been inserted for convenience of reference only and shall not be deemed part of this Agreement. 
 SECTION 24. COUNTERPARTS. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original as against
any party whose signature appears thereon, and all of which shall together constitute one and the same instrument. This Agreement shall become binding when one or more counterparts of this Agreement, individually or taken together, shall bear the
signatures of all of the parties reflected hereon as the signatories. 
 SECTION 25. SEVERABILITY. Any provision of this Agreement
that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 SECTION 26.
JOINTLY DRAFTED. This Agreement, and all the provisions of this Agreement, shall be deemed drafted by both of the parties hereto, and shall not be construed against either party on the basis of that party’s role in drafting this
Agreement. 
 SECTION 27. NO THIRD-PARTY BENEFICIARIES. Nothing in this Agreement (except as specifically provided in Section 11)
shall provide any benefit to any third party or entitle any third party to any claim, cause of action, remedy or right of any kind, it being the intent of the parties hereto that this Agreement shall not be construed as a third-party beneficiary
contract. 
 SECTION 28. FURTHER ASSURANCES. In connection with this Agreement, each party hereto shall execute and deliver any
additional documents and instruments and perform any additional acts that may be necessary or appropriate to effectuate and perform the provisions of this Agreement. 
  

 14 

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

  

					
	ATLAS ENERGY RESOURCES, LLC
		
	By:	 	  
		 	Name:	 	  
		 	Title:	 	  
	
	ATLAS ENERGY OPERATING COMPANY, LLC
		
	By:	 	Atlas Energy Resources, LLC, its sole member
		
	By:	 	  
		 	Name:	 	  
		 	Title:	 	  
	
	ATLAS ENERGY MANAGEMENT, INC.
		
	By:	 	  
		 	Name:	 	  
		 	Title:	 	  

  

 15

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