Document:

Form of Severance Agreement

 Exhibit 10.1 
 SEVERANCE AGREEMENT 
 This Severance Agreement (this “Agreement”) is
made as of the [•] day of [•], [•], by and between Buckeye Partners, L.P., a Delaware limited partnership (“BPL”), Buckeye Pipe Line Services Company, a Pennsylvania corporation (“BPLSC”), and
[•](“Employee”). 
 WHEREAS, Employee is [•]of Buckeye GP LLC (“Buckeye GP”); 

WHEREAS, pursuant to the terms of a Services Agreement, BPLSC employs and compensates certain employees on behalf of BPL and Buckeye GP,
including Employee, and BPL has agreed to reimburse BPLSC for the costs and expenses incurred by BPLSC in connection with the provision of such employment and other services to Buckeye GP and BPL; and 

WHEREAS, in consideration of Employee’s employment with BPLSC and his agreement to keep information of the BPL Entities (defined
below) confidential and not to compete with BPL in the event Employee’s employment is terminated, BPLSC agrees that Employee shall receive the compensation set forth in this Agreement as a cushion against the financial and career impact on
Employee in the event Employee’s employment with BPLSC is terminated under the circumstances described herein. 
 NOW,
THEREFORE, in consideration of the foregoing and the mutual covenants and agreements hereinafter set forth and intending to be legally bound hereby, the parties hereto agree as follows: 

1.        Definitions. 

“Affiliate” shall have the meaning ascribed to such term in Rule 12b-2 of the General Rules and Regulations under the Exchange
Act. 
 “Annual Base Compensation” shall mean the annual base salary payable to the Employee as may be determined from
time to time by the Compensation Committee of the Board. 
 “Annual Target Bonus Opportunity” means the annual target
cash bonus opportunity for which Employee is eligible for any relevant year pursuant to any BPL annual incentive compensation plan or program, as determined by the Compensation Committee of the Board. 

“BPL Entities” means Buckeye GP, BPL, BPL’s operating partnerships and other subsidiaries, and BPLSC, collectively.

 “Board” means the board of directors or similar governing body of Buckeye GP. 

“Cause” means (i) habitual insobriety or substance abuse, (ii) engaging in acts of disloyalty to BPL or BPLSC
including fraud, embezzlement, theft, commission of a felony, or 

  
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proven dishonesty, or (iii) willful misconduct by Employee in the performance of his duties, or the willful failure of Employee to perform a material function of Employee’s duties
hereunder. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Internal Revenue Code” means the Internal Revenue Code of 1986, as amended. 

“Person” shall have the same meaning as in Section 13(d) and 14(d) of the Exchange Act. 

“Subsidiary” means any entity in which the BPL Entities, directly or indirectly, own at least a 50% interest or an
unincorporated entity of which the BPL Entities, directly or indirectly, owns at least 50% of the profits or capital interests. 

“Termination Date” means the date of receipt of the Notice of Termination described in Section 2 hereof or any later date
specified therein, as the case may be. 
 “Termination of Employment” means the termination of Employee’s
employment relationship with the BPL Entities, which event shall constitute a “separation from service” under section 409A of the Internal Revenue Code. 
 2.        Notice of Termination. Any Termination of Employment shall be communicated by a Notice of Termination in accordance with Section 15 hereof.
For purposes of this Agreement, a “Notice of Termination” means a written notice which (i) indicates the specific reasons for the termination, (ii) briefly summarizes the facts and circumstances deemed to provide a basis for
termination of Employee’s employment, and (iii) if the Termination Date is other than the date of receipt of such notice, specifies the Termination Date (which date shall not be more than 15 days after the giving of such notice).

 3.        Severance Compensation upon Termination. 

(a)        Subject to the last sentence of this paragraph, Employee shall receive severance
compensation as described below upon a Termination of Employment that is either: 
  

	 	(i)	initiated by BPLSC for any reason other than (x) Employee’s continuous illness, injury or incapacity for a period of six consecutive months or (y) for
“Cause;” or 

  

	 	(ii)	initiated by Employee for “Good Reason” upon one or more of the following occurrences, subject to subsection (c) below: 

(A)        any material failure of BPLSC to comply with and satisfy any of the
terms of this Agreement; 
 (B)        any significant reduction by BPLSC
of the authority, duties, or responsibilities of Employee; 

  
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 (C)        any elimination of
Employee from eligibility to participate in, or any exclusion of Employee from participation in, employee benefit plans or policies; 
 (D)        any material reduction in Employee’s Annual Base Compensation or any material reduction in Employee’s Annual Target Bonus Opportunity (unless
such reduction in Annual Target Bonus Opportunity is made in connection with similar reductions in the bonus opportunities of Buckeye GP’s named executive officers as a group); or 

(E)        a transfer of Employee, without his express written consent, to a
location that is more than 100 miles from Employee’s primary work location as it existed on the date of this Agreement, except for required travel substantially consistent with the Employee’s present business obligations. 

In the event of a Termination of Employment described above, and subject to the last sentence of this paragraph, BPLSC shall pay to
Employee, within fifteen days after the Termination Date, an amount in cash, payable in a lump sum, equal to Employee’s Annual Base Compensation plus Employee’s Annual Target Bonus Opportunity for such year. Notwithstanding the foregoing,
no such payment shall be made unless Employee executes, and does not revoke, a written release, substantially in the form attached hereto as Annex 1 (the “Release”), of any and all claims against the BPL Entities, BPLSC and all related
parties with respect to all matters arising out of Employee’s employment by BPLSC (other than any entitlements under the terms of this Agreement or under any other plans or programs of BPLSC in which Employee participated and under which
Employee has accrued or become entitled to a benefit) or the termination thereof. Notwithstanding any provision of this Agreement to the contrary, in no event shall the timing of Employee’s execution of the Release, directly or indirectly,
result in Employee designating the calendar year of payment, and if a payment that is subject to execution of the Release could be made in more than one taxable year, payment shall be made in the later taxable year. 

(b)        In the event a severance payment is made under paragraph (a) above, BPLSC will
pay Employee a monthly payment on the first payroll date of each month equal to 125% of the COBRA cost of continued health and dental coverage under health and dental plans of BPLSC pursuant to section 4980B of the Internal Revenue Code, less the
amount that Employee would be required to contribute for health and dental coverage if Employee were an active employee, for a period of 12 months from the Termination Date; provided, however, that this obligation shall cease upon Employee’s
obtaining new employment that provides Employee with eligibility for medical benefits without a pre-existing condition limitation (such period is referred to as the “Benefit Period”). These payments will commence on BPLSC’s first
payroll date after the Termination Date and will continue until the end of the Benefit Period. 

(c)        If Employee incurs a Termination of Employment other than as described in
Section 3(a), Employee shall receive no severance compensation under this Agreement, and this Agreement shall terminate; provided that the obligations of Employee under Sections 10, 11, 12, 22 and 23 shall continue in effect according to their
terms. 

  
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 (d)        In order for the Employee to resign for
Good Reason as described in Section 3(a)(ii) above, the Employee must provide written notice of termination for Good Reason to BPLSC within 30 days after the event constituting Good Reason. BPLSC shall have a period of 30 days in which it may
correct the act or failure to act that constitutes the grounds for Good Reason as set forth in the Employee’s notice of termination. If BPLSC does not correct the act or failure to act, the Employee must terminate his or her employment for Good
Reason within 30 days after the end of the cure period, in order for the termination to be considered a Good Reason termination. 
 4.        Other Payments. The payment due under Section 3 hereof shall be in addition to and not in lieu of accrued but not yet paid compensation and
payments or benefits due to Employee under any other plan, policy or program of BPLSC, except for severance compensation as described in Section 7 below. 
 5.        Enforcement. 

(a)        In the event that BPLSC shall fail or refuse to make payment of any amounts due
Employee under this Agreement, BPL agrees to make such payment on behalf of BPLSC. 

(b)        In the event that BPLSC and Employee shall disagree regarding BPLSC’s obligation
to pay any amounts due Employee under Sections 3 and 4 hereof, BPLSC shall pay to an escrow agent, who shall invest such sum with interest to be paid to the prevailing party, any amount not paid under Sections 3 or 4. In such event, the parties
shall engage in arbitration in the City of Houston, Texas, in accordance with the National Rules for the Resolution of Employment Disputes then in effect of the American Arbitration Association, before a panel of three arbitrators, one of whom shall
be selected by BPLSC and one by Employee, and the third of whom shall be selected by the other two arbitrators. Any award entered by the arbitrators shall be final, binding, and nonappealable and judgment may be entered thereon by either party in
accordance with applicable law in any court of competent jurisdiction. This arbitration provision shall be specifically enforceable. The arbitrators shall have no authority to modify any provision of this Agreement or to award a remedy for a dispute
involving this Agreement other than a benefit specifically provided under or by virtue of the Agreement. 

(c)        BPLSC shall pay Employee on demand the amount necessary to reimburse Employee in full
for all reasonable expenses (including reasonable attorneys’ fees and expenses) incurred by Employee in enforcing any of the obligations of BPLSC and BPL under this Agreement subject to Employee’s duty to repay such sums to BPLSC and BPL
in the event that the Employee does not prevail on any material issue which is the subject of such arbitration. If Employee prevails on at least one material issue which is the subject of such arbitration, BPLSC shall be responsible for all of the
fees of the American Arbitration Association and the arbitrators and any expenses relating to the conduct of the arbitration (including Employee’s reasonable attorneys’ fees and expenses). Otherwise, each party shall be responsible for his
or its own expenses relating to the conduct of the arbitration (including reasonable attorneys’ fees and expenses) and shall equally share the fees of the American Arbitration Association. All reimbursements shall be made in accordance with
section 409A of the Internal Revenue Code. 

  
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 6.        No Mitigation. Employee shall not
be required to mitigate the amount of any payment or benefit provided for in this Agreement by seeking other employment or otherwise, nor shall the amount of any payment or benefit provided for herein be reduced by any compensation earned by other
employment or otherwise. 
 7.        Non-exclusivity of Rights. Nothing in this
Agreement shall prevent or limit Employee’s continuing or future participation in or rights under any benefit, bonus, incentive or other plan or program provided by the BPL Entities, and for which Employee may qualify, from the date hereof
through the Termination Date; provided, however, that Employee hereby waives Employee’s right to receive any payments under any severance pay plan or similar program applicable to other employees of BPLSC or the BPL Entities. 

8.        No Set-Off. Except as specifically provided for herein, the obligation of BPLSC
to make the payments provided for in this Agreement and otherwise to perform their obligations hereunder shall not be affected by any circumstances, including, without limitation, any set-off, counterclaim, recoupment, defense or other right which
the BPL Entities may have against Employee or others. 
 9.        Taxes. Any
payment required under this Agreement shall be subject to all requirements of law with regard to the withholding of taxes, filing, making of reports and the like, and BPLSC shall use its best efforts to satisfy promptly all such requirements.

 10.        Confidential Information. Employee recognizes and acknowledges
that, by reason of his relationship to the BPL Entities, he has had and will continue to have access to confidential information of the BPL Entities, including, without limitation, information and knowledge pertaining to products and services
offered, innovations, designs, ideas, plans, trade secrets, proprietary information, distribution and sales methods and systems, sales and profit figures, customer and client lists, and relationships between the entities (“Confidential
Information”). Employee acknowledges that such Confidential Information is a valuable and unique asset and covenants that he will not, either during or after his employment by BPLSC, disclose or use any such Confidential Information to any
person for any reason whatsoever without the prior written authorization of the Board; unless such information is in the public domain through no fault of Employee or except as may be required by law. 

11.        Non-Competition. 

(a)        During his employment by BPLSC and for a period of one year thereafter, Employee will
not, unless acting with the prior written consent of the Board, directly or indirectly, own, manage, operate, join, control or participate in the ownership, management, operation or control, or be connected as an officer, director, manager, member,
employee, partner, principal, agent, representative, consultant or otherwise with or use or permit his name to be used in connection with any business or enterprise, anywhere in the world (the “Geographic Area”), that (A) competes
with any material line of business of the BPL Entities, or (B) is a customer of the BPL Entities which materially contributes to any material line of business of the BPL Entities. It is recognized by Employee that the BPL Entities’
business and Employee’s connection therewith is or will be involved in activity throughout the Geographic Area, and that more limited geographical limitations on this non-competition covenant are therefore not

  
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appropriate. Employee also shall not, directly or indirectly, during such one-year period (i) solicit or divert business from, or attempt to convert any client, account or customer of the
BPL Entities, whether existing at the date hereof or acquired during Employee’s employment nor (ii) solicit or attempt to hire any employee of the BPL Entities or any person who has been an employee of the BPL Entities at any time during
the year prior to such Termination of Employment. 
 (b)        The foregoing
restriction shall not be construed to prohibit the ownership by Employee of less than five percent (5%) of any class of securities of any corporation which is engaged in any of the foregoing businesses having a class of securities registered
pursuant to the Exchange Act, provided that such ownership represents a passive investment and that neither Employee nor any group of persons including Employee in any way, either directly or indirectly, manages or exercises control of any such
corporation, guarantees any of its financial obligations, otherwise takes any part in its business, other than exercising his rights as a shareholder, or seeks to do any of the foregoing. 

12.        Equitable Relief. 

(a)        Employee acknowledges that the restrictions contained in Sections 10 and 11 hereof are
reasonable and necessary to protect the legitimate interests of the BPL Entities, that BPL and BPLSC would not have entered into this Agreement in the absence of such restrictions, and that any violation of any provision of those Sections will
result in irreparable injury to BPL and BPLSC. Employee represents that his experience and capabilities are such that the restrictions contained in Section 11 hereof will not prevent Employee from obtaining employment or otherwise earning a
living at the same general level of economic benefit as is currently the case. Employee further represents and acknowledges that (i) he has been advised by BPL and BPLSC to consult his own legal counsel in respect of this Agreement, and
(ii) he has had full opportunity, prior to execution of this Agreement, to review thoroughly this Agreement with his counsel. 
 (b)        Employee agrees that BPL and BPLSC shall be entitled to preliminary and permanent injunctive relief, without the necessity of proving actual damages, as
well as an equitable accounting of all earnings, profits and other benefits arising from any violation of Sections 10 or 11 hereof, which rights shall be cumulative and in addition to any other rights or remedies to which BPL or BPLSC may be
entitled. In the event that any of the provisions of Sections 10 or 11 hereof should ever be adjudicated to exceed the time, geographic, service, or other limitations permitted by applicable law in any jurisdiction, then such provisions shall be
deemed reformed in such jurisdiction to the maximum time, geographic, service, or other limitations permitted by applicable law. 
 (c)        Employee irrevocably and unconditionally (i) agrees that any suit, action or other legal proceeding arising out of Section 10 or 11 hereof,
including without limitation, any action commenced by BPLSC for preliminary and permanent injunctive relief or other equitable relief, may be brought in the United States District Court for the Southern District of Texas, or if such court does not
have jurisdiction or will not accept jurisdiction, in any court of general jurisdiction in Harris County, Texas, (ii) consents to the non-exclusive jurisdiction of any such court in any such suit, action or proceeding, and (iii) waives any
objection which Employee may 

  
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have to the laying of venue of any such suit, action or proceeding in any such court. Employee also irrevocably and unconditionally consents to the service of any process, pleadings, notices or
other papers in a manner permitted by the notice provisions of Section 15 hereof. 

13.        Term of Agreement. The term of this Agreement shall continue until the
effectiveness of Employee’s Termination of Employment; provided, however, that each provision of this Agreement shall remain effective until all of the obligations of each party under such provision are satisfied. 

14.        Successor Company. BPL and BPLSC shall require any successor or successors
(whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of BPL or BPLSC, by agreement in form and substance satisfactory to Employee, to acknowledge expressly that this
Agreement is binding upon and enforceable against BPL and BPLSC, as applicable, in accordance with the terms hereof, and to become jointly and severally obligated with BPL and BPLSC, as applicable, to perform this Agreement in the same manner and to
the same extent that BPL or BPLSC would be required to perform if no such succession or successions had taken place. Failure of BPL and BPLSC to obtain such agreement prior to the effectiveness of any such succession shall be a breach of this
Agreement. As used in this Agreement, BPL and BPLSC shall mean BPL and BPLSC as hereinbefore defined and any such successor or successors to their business and/or assets, jointly and severally. 

15.        Notice. All notices and other communications required or permitted hereunder or
necessary or convenient in connection herewith shall be in writing and shall be delivered personally or mailed by registered or certified mail, return receipt requested, or by overnight express courier service, as follows: 

If to BPL or BPLSC, to: 
 Buckeye Partners, L.P. 
 Buckeye Pipe Line Services Company 

One Greenway Plaza 
 Suite 600 
 Houston, Texas 

Attention: General Counsel 
 With a copy to: 
 Morgan, Lewis & Bockius LLP 

1701 Market Street 
 Philadelphia, PA 19103-2921 
 Attention: Howard L. Meyers 

If to Employee, to the most recent address on file with BPLSC or to such other names or addresses as BPLSC or Employee, as the case may
be, shall designate by notice to each 

  
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other person entitled to receive notices in the manner specified in this Section; provided, however, that if no such notice is given by BPLSC, notice at the last address of BPLSC or to any
successor pursuant to Section 14 hereof shall be deemed sufficient for the purposes hereof. Any such notice shall be deemed delivered and effective when received in the case of personal delivery, five days after deposit, postage prepaid, with
the U.S. Postal Service in the case of registered or certified mail, or on the next business day in the case of overnight express courier service. 
 16.        Section 409A. 

(a)        This Agreement shall be interpreted to avoid any penalty sanctions under Internal
Revenue Code section 409A. If any payment or benefit cannot be provided or made at the time specified herein without incurring sanctions under section 409A, then such benefit or payment shall be provided in full at the earliest time thereafter when
such sanctions will not be imposed. 
 (b)        Notwithstanding anything in this
Agreement to the contrary, if Employee is a “specified employee” of a publicly traded corporation under section 409A at the time of his separation from service and if payment of any amount under this Agreement is required to be
delayed for a period of six months after separation from service pursuant to section 409A, payment of such amount shall be delayed as required by section 409A, and the accumulated postponed amount shall be paid in a lump sum payment within 10 days
after the end of the six-month period. If Employee dies during the postponement period prior to the payment of postponed amount, the amounts withheld on account of section 409A shall be paid to the personal representative of Employee’s estate
within 60 days after the date of Employee’s death. The determination of specified employees, including the number and identity of persons considered specified employees and the identification date, shall be made by the Board in accordance with
the provisions of Section 409A and the regulations issued thereunder. 

(c)        This Agreement is intended to comply with section 409A and its corresponding
regulations, or an exemption, and payments may only be made under this Agreement upon an event and in a manner permitted by section 409A, to the extent applicable. For purposes of section 409A, the right to a series of payments under this Agreement
shall be treated as a right to a series of separate payments. All reimbursements and in kind benefits provided under this Agreement shall be made or provided in accordance with the requirements of section 409A, including, where applicable, the
requirement that (i) any reimbursement shall be for expenses incurred during Employee’s lifetime (or during a shorter period of time specified in this Agreement), (ii) the amount of expenses eligible for reimbursement, or in kind
benefits provided, during a calendar year may not affect the expenses eligible for reimbursement, or in kind benefits to be provided, in any other calendar year, (iii) the reimbursement of an eligible expense will be made on or before the last
day of the calendar year following the year in which the expense is incurred, and (iv) the right to reimbursement or in kind benefits is not subject to liquidation or exchange for another benefit. 

17.        Governing Law. This Agreement shall be governed by and interpreted under the
laws of the State of Texas without giving effect to any conflict of laws provisions. 

  
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 18.        Contents of Agreement, Amendment and
Assignment. 
 (a)        This Agreement supersedes all prior agreements, sets forth
the entire understanding between the parties hereto with respect to the subject matter hereof and cannot be changed, modified, extended or terminated except upon written amendment executed by Employee, BPL and BPLSC. The provisions of this Agreement
may provide for payments to Employee under certain compensation or bonus plans under circumstances where such plans would not provide for payment thereof. It is the specific intention of the parties that the provisions of this Agreement shall
supersede any provisions to the contrary in such plans, and such plans shall be deemed to have been amended to correspond with this Agreement without further action by BPL or BPLSC or the Board. 

(b)        Nothing in this Agreement shall be construed as giving Employee any right to be
retained in the employ of BPLSC or any of the BPL Entities. 
 (c)        All of the
terms and provisions of this Agreement shall be binding upon and inure to the benefit of and be enforceable by the respective heirs, representatives, successors and assigns of the parties hereto, except that the duties and responsibilities of
Employee hereunder shall not be assignable in whole or in part by the Employee. 

19.        Severability. If any provision of this Agreement or application thereof to
anyone or under any circumstances shall be determined to be invalid or unenforceable, such invalidity or unenforceability shall not affect any other provisions or applications of this Agreement which can be given effect without the invalid or
unenforceable provision or application. 
 20.        Remedies Cumulative; No
Waiver. No right conferred upon Employee by this Agreement is intended to be exclusive of any other right or remedy, and each and every such right or remedy shall be cumulative and shall be in addition to any other right or remedy given
hereunder or now or hereafter existing at law or in equity. Except as provided by Section 2, no delay or omission by Employee in exercising any right, remedy or power hereunder or existing at law or in equity shall be construed as a waiver
thereof. 
 21.        Miscellaneous. All section headings are for convenience
only. This Agreement may be executed in several counterparts, each of which is an original. It shall not be necessary in making proof of this Agreement or any counterpart hereof to produce or account for any of the other counterparts. When the
context admits or requires, words used in the masculine gender shall be construed to include the feminine, the plural shall include the singular, and the singular shall include the plural. 

22.        Defense of Claims. Employee agrees that, during a period of 36 months after the
Termination Date, upon request from BPLSC, Employee will cooperate with the BPL Entities in the defense of any claims or actions that may be made by or against the BPL Entities that relate to Employee’s prior areas of responsibility, except if
Employee’s reasonable interests are adverse to such entities in such claim or action. BPLSC agree to pay or reimburse Employee for all of his reasonable travel and other direct expenses incurred, or to be reasonably incurred, to comply with
Employee’s obligations under this Section 22. If the requirements of Employee under this 

  
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Section 22 exceed ten business days, BPLSC shall compensate Employee thereafter in an amount equal to $1,000 per day. 

23.        Non-Disparagement. Employee agrees that, in communications with Persons other
than the BPL Entities, he shall not disparage in any way, and shall always speak well of the BPL Entities, their Affiliates or respective employees, and under no circumstances shall Employee, in communications with Persons other than the BPL
Entities and their Affiliates criticize or disparage any business practice, policy, statement, valuation or report that is made, conducted or published by such entities or individuals. Similarly, BPLSC, on behalf of the BPL Entities and their
Affiliates, agrees not to disparage Employee. Notwithstanding the foregoing, this Section 23 shall not be construed to prohibit or restrain any criticism or other statements made in communications exclusively between or among the BPL Entities
and their Affiliates or their respective employees, agents or representatives to the extent such communications or statements are made in the ordinary course of business or in the discharge by Employee of his duties and responsibilities on behalf of
the BPL Entities. The obligations of Employee and BPLSC under this Section 23 shall continue after the termination of the employment period. Employee and BPLSC acknowledge that any violation of this Section 23 may cause irreparable injury
to the other parties for which monetary damages are inadequate and difficult to compute. Accordingly, this Section 23 may be enforced by specific performance, and prospective breaches of this Section 23 may be enjoined. 

[Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the undersigned, intending to be legally bound, have executed this
Agreement as of the date first above written. 
  

					
	 BUCKEYE PARTNERS, L.P.
 By:  Buckeye GP LLC, its general partner

			
	By:	 	 	 	 
	Name:	 	
	Title:	 	
	
	BUCKEYE PIPE LINE SERVICES COMPANY
			
	By:	 		 	 
	Name:	 	
	Title:	 	
	
	EMPLOYEE
			
	 	 	 	 	 

  
 11Form of Phantom Unit Grant Agreement

 Exhibit 10.2 
 Date of Grant: [•] 
 BUCKEYE PARTNERS, L.P.

 LONG-TERM INCENTIVE PLAN 
 PHANTOM UNIT GRANT AGREEMENT 
 THIS PHANTOM UNIT GRANT AGREEMENT
(this “Agreement”), dated as of [•] is delivered by Buckeye GP LLC, a Delaware limited liability company (the “Company”), to [•] (the “Participant”). 

RECITALS 

A.        The Buckeye Partners, L.P. 2009 Long-Term Incentive Plan, as amended (the
“Plan”), provides for the grant of phantom units, which are phantom (notional) rights that represent the right to receive one or more limited partnership units (a “Unit”), of Buckeye Partners, L.P., a Delaware
limited partnership (the “Partnership”), as determined by the Committee (as defined in the Plan). Employees and independent directors of the Company, the Partnership and the Partnership’s Affiliates (as defined in the Plan) are
eligible to participate in the Plan. Each of the Company, the Partnership and the Partnership’s Affiliates, as applicable, is referred to herein as the “Employer.” 

B.        The Committee has decided to make a phantom unit grant, subject to the terms and
conditions set forth in this Agreement and the Plan, as a one-time retention incentive to the Participant and as an inducement for the Participant to promote the best interests of the Partnership. The Participant may receive a copy of the Plan by
contacting William H. Schmidt, Jr. at (832) 615-8610 or wschmidt@buckeye.com. 
 NOW, THEREFORE, the parties
hereto, intending to be legally bound, hereby agree as follows: 
 1.        Grant
of Phantom Units. Subject to the terms and conditions set forth in this Agreement and the Plan, the Company hereby confirms the grant to the Participant of [•] Phantom Units (the “Phantom Units”) as of the Date of Grant
set forth at the top of the cover page to this Agreement (the “Date of Grant”). The Phantom Units will become vested in accordance with Paragraph 3 below and will be distributed in accordance with Paragraph 4 below. Except as
otherwise provided below, prior to the date the Phantom Units are distributed as Units in accordance with Paragraph 4 below, the Participant will not be deemed to have any voting rights or cash distribution rights with respect to any Units subject
to this grant. For purposes of this Agreement, each Phantom Unit shall be equivalent to one Unit. 

2.        Phantom Unit Account. The Company shall establish and maintain a Phantom
Unit account, as a bookkeeping account on its records (the “Phantom Unit Account”), for the Participant and shall record in such Phantom Unit Account the number of Phantom Units granted to the Participant pursuant to this Agreement.
The Participant shall not have any interest in any fund or specific assets of the Employer by reason of this grant or the Phantom Unit Account established for the Participant. 

 3.        Vesting. 

[(a)        Except as otherwise provided in subparagraphs (c) and (d) below, the
Participant will become vested in the Phantom Units awarded pursuant to this Agreement according to the following vesting schedule, provided the Participant does not incur a termination of employment or service as an Employee (as defined in the
Plan) with the Employer prior to the applicable vesting date (the “Vesting Date”): 
  

			
	 Vesting Date
	  	 Percentage of Phantom Units Vesting

	Less than One Year from Date of Grant	  	0%
	First Anniversary of Date of Grant	  	33 1/3%
	Second Anniversary of Date of Grant	  	66 2/3%
	Third Anniversary of Date of Grant	  	100%

 The vesting of the Phantom Units is cumulative, but shall not exceed 100% of the Phantom Units. If the foregoing schedule
would produce fractional Units, then the number of Units shall be rounded down to the nearest whole Unit. For the avoidance of doubt, the provisions of this Paragraph 3 shall supersede Section 7.6 and Section 11 of the Plan.] 

[(a)        Except as otherwise provided in subparagraphs (c) and (d) below, the
Participant will become vested in the Phantom Units awarded pursuant to this Agreement according to the following vesting schedule, provided the Participant does not incur a termination of employment or service as an Employee (as defined in the
Plan) with the Employer prior to the applicable vesting date (the “Vesting Date”): 
  

			
	 Vesting Date
	  	 Percentage of Phantom Units Vesting

	Less than Three Years from Date of Grant	  	0%
	Three Years or More from Date of Grant	  	100%

 For the avoidance of doubt, the provisions of this Paragraph 3 shall supersede Section 7.6 and Section 11 of
the Plan.] 
 (b)        Except as otherwise provided in this Agreement, if the
Participant terminates employment or service as an Employee prior to the Vesting Date, the Phantom Units credited to the Participant’s Phantom Unit Account that have not vested as of such Vesting Date shall terminate and the corresponding Units
shall be forfeited. 
 (c)        If the Participant is terminated by the Employer
without Cause (as defined in the Plan) prior to the Vesting Date, the Phantom Units credited to the Participant’s 

  
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Phantom Unit Account that have not vested will vest on a pro-rated basis as determined by the Committee in its sole discretion and will be paid as soon as practicable thereafter. 

(d)        If after the Date of Grant, a Change of Control (as defined in the Plan) occurs while
the Participant is employed, or providing service to the Employer, but prior to the Vesting Date, and (i) the Participant is terminated without Cause during the Change of Control Period (as defined below) or (ii) the Participant resigns
for Good Reason (as defined in the Plan), the portion of the Phantom Units credited to the Participant’s Phantom Unit Account that have not vested shall immediately vest and be paid within the thirty (30) day period following the
termination of employment. For purposes of this section “Change of Control Period” shall mean the period commencing on the date of a Change of Control and ending eighteen (18) calendar months following a Change of Control. 

(e)        Notwithstanding any other provisions set forth in this Agreement or in the Plan, if
the Participant ceases to be employed by, or provide service to the Employer on account of a termination for Cause, any Phantom Units credited to the Participant’s Phantom Unit Account that have not vested as of such date shall immediately
terminate and become null and void. 
 4.        Distribution. All of the
Phantom Units credited to the Participant’s Phantom Unit Account that vest pursuant to Paragraph 3 above shall become converted to Units to be issued under the Plan and shall be distributed as soon as practicable following the date the Phantom
Units vest or as set forth in this Agreement. 
 5.        No DERs. For
the avoidance of doubt, the Phantom Units do not include, and this Agreement does not grant, rights to receive an amount in cash equal to, and at the same time as, the cash distributions made by the Partnership with respect to a Unit during the
period such phantom unit is outstanding (“DERs”). 

6.        Acknowledgment by Participant. By executing this grant, the Participant
hereby acknowledges that with respect to any right to a distribution pursuant to this Agreement, the Participant is and shall be an unsecured creditor of the Partnership without any preference as against other unsecured general creditors of the
Partnership, and the Participant hereby covenants for himself or herself, and anyone at any time claiming through or under the Participant, not to claim any such preference, and hereby disclaims and waives any such preference that may at any time be
at issue, to the fullest extent permitted by applicable law. The Participant also hereby agrees to be bound by the terms and conditions of the Plan and this Agreement. The Participant further agrees to be bound by the determinations and decisions of
the Committee with respect to this Agreement and the Plan and the Participant’s rights to benefits under this Agreement and the Plan, and agrees that all such determinations and decisions of the Committee shall be binding on the Participant,
his or her beneficiaries and any other person having or claiming an interest under this Agreement and the Plan on behalf of the Participant. 
 7.        Restrictions on Issuance or Transfer of Units. The obligation of the Company to deliver Units upon distribution of the Phantom Units
shall be subject to the condition that if at any time the Committee shall determine in its discretion that the listing, 

  
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registration or qualification of the Units upon any securities exchange or under any state or federal law, or the consent or approval of any governmental regulatory body is necessary or desirable
as a condition of, or in connection with, the issuance of the Units, the Units may not be issued in whole or in part unless such listing, registration, qualification, consent or approval shall have been effected or obtained free of any conditions
not acceptable to the Committee. In the event an exemption from registration under the Securities Act of 1933 (the “Securities Act”) is available, the Participant, if requested by the Company to do so, will execute and deliver to
the Company in writing an agreement containing such provisions as the Company may require to assure compliance with applicable securities laws. No sale or disposition of Units acquired pursuant to this grant by the Participant shall be made in the
absence of an effective registration statement under the Securities Act with respect to such Units unless an opinion of counsel satisfactory to the Company that such sale or disposition will not constitute a violation of the Securities Act or any
other applicable securities laws is first obtained. 
 8.        Grant Subject to
Plan Provisions. This grant is made pursuant to the Plan, the terms of which are incorporated herein by reference, and in all respects shall be interpreted in accordance with the Plan, except as set forth herein. In the event of any
contradiction, distinction or difference between this Agreement and the terms of the Plan, the terms of the Plan will control, except as set forth herein. This grant is subject to the interpretations, regulations and determinations concerning the
Plan established from time to time by the Committee in accordance with the provisions of the Plan, including, but not limited to, provisions pertaining to (i) rights and obligations with respect to withholding taxes, (ii) the registration,
qualification or listing of Units, (iii) changes in capitalization of the Partnership, and (iv) other requirements of applicable law. The Committee shall have the authority to interpret and construe this Agreement pursuant to the terms of
the Plan, and its decisions shall be conclusive as to any questions arising hereunder. By receiving this grant, the Participant hereby agrees to be bound by the terms and conditions of the Plan and this Agreement. The Participant further agrees to
be bound by the determinations and decisions of the Committee with respect to this Agreement and the Plan and the Participant’s rights to benefits under this Agreement and the Plan and agrees that all such determinations and decisions of the
Committee shall be binding on the Participant, his or her beneficiaries and any other person having or claiming an interest under this Agreement and the Plan on behalf of the Participant. 

9.        Assignment and Transfers. No Phantom Units awarded to the Participant
under this Agreement may be transferred, assigned, pledged or encumbered by the Participant, except (i) by will or by the laws of descent and distribution or (ii) pursuant to a domestic relations order. Except as set forth above, any
attempt to transfer, assign, pledge or encumber the Phantom Units by the Participant shall be null, void and without effect. The rights and protections of the Company hereunder shall extend to any successors or assigns of Company. 

10.        Taxes/Withholding. The vesting of Phantom Units, as well as any
amounts received upon distribution of Phantom Units pursuant to Paragraph 4 above, is treated as taxable income to the Participant, subject to withholding, and the Participant shall be solely responsible for all tax consequences that result from the
vesting and distribution of the 

  
 4 

 
Phantom Units, as well as any subsequent sale of Units. The Employer is authorized to withhold from any payment due or transfer made under this grant or from any compensation or other amount
owing to the Participant, the amount (in cash or Units that would otherwise be issued pursuant to this grant as determined by the Committee) of any applicable withholding taxes that are due in respect of this grant, the lapse of restrictions
thereon, or any payment or transfer under this grant and to take such other action as may be necessary in the opinion of the Employer to satisfy its withholding obligations for the payment of such taxes. If Units are withheld, the Units withheld may
not exceed the minimum applicable tax withholding amount. 
 11.        No Rights
as Unitholder. The Participant shall not have any rights as a Unitholder of the Partnership, including the right to any cash distributions, or the right to vote, with respect to any Phantom Units. 

12.        Employment Not Affected. This grant of Phantom Units shall not
confer upon the Participant any right to be retained by, or in the employ or service of, the Employer and shall not interfere in any way with the right of the Employer to terminate the Participant’s employment or service at any time. The right
of the Employer to terminate at will the Participant’s employment or service at any time for any reason is specifically reserved. 
 13.        Effect on Other Benefits. The value of Units distributed with respect to the Phantom Units shall not be considered eligible earnings for
purposes of any other plans maintained by the Employer. Neither shall such value be considered part of the Participant’s compensation for purposes of determining or calculating other benefits that are based on compensation, such as life
insurance. 
 14.        Amendments. The Company may waive any
conditions or rights under and amend any terms of this Agreement, provided that no change shall materially reduce the benefit to the Participant without the consent of the Participant, except as necessary to comply with the requirements of Paragraph
17 below. 
 15.        Governing Law. The validity, construction,
interpretation and effect of this Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to the conflict of laws provisions thereof, and applicable federal law. 

16.        Notice. Any notice to the Company provided for in this Agreement shall
be addressed to the Company in care of the General Counsel at the principal office of the Company, and any notice to the Participant shall be addressed to such Participant at the current address shown in the records of the Employer, or to such other
address as the Participant may designate to the Employer in writing. Any notice shall be delivered by hand, sent by telecopy or enclosed in a properly sealed envelope addressed as stated above, registered and deposited, postage prepaid, in a post
office regularly maintained by the United States Postal Service. 

  
 5 

 17.        Section 409A of the Internal
Revenue Code. This Agreement is intended to comply with an exemption to section 409A of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder. To the extent that any provision of this Agreement or the Plan
would cause a conflict with the requirements of section 409A of the Code, such provision shall be deemed null and void to the extent permitted by applicable law. This Agreement may be amended without the consent of the Participant in any respect
deemed by the Committee to be necessary in order to preserve compliance with section 409A of the Code. 
 [SIGNATURES
APPEAR ON FOLLOWING PAGE] 

  
 6 

 IN WITNESS WHEREOF, this Agreement has been duly executed as of the dates set forth
below. 
  

			
	 BY APPROVAL OF THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS OF BUCKEYE GP LLC:

 
 Buckeye Partners, L.P.
 By: Buckeye GP LLC, as its general partner

		
	By: 	 	  

 
			
		
	Date: 	 	  

 I hereby accept the Phantom Units described in this Agreement, and I agree to be bound by the terms of the Plan and
this Agreement. I hereby further agree that all of the decisions and interpretations of the Committee with respect to this Agreement and the Plan shall be final and binding. 

 

			
		
	Participant: 	 	  

 
			
		
	Date: 	 	  

  
 7

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