Document:

EX-10.1

 Exhibit 10.1 

SHELL MIDSTREAM PARTNERS 

REVOLVING CREDIT FACILITY AGREEMENT 

DATED AS OF DECEMBER 1, 2017 

SHELL MIDSTREAM PARTNERS, L.P. 

as the Borrower 
 AND

 SHELL TREASURY CENTER (WEST) INC. 

as the Lender 
  

 THIS SHELL MIDSTREAM PARTNERS REVOLVING CREDIT FACILITY AGREEMENT DATED AS OF DECEMBER 1, 2017 and
made between: 
  

	(1)	SHELL MIDSTREAM PARTNERS, L.P. (the “Borrower”); and 

  

	(2)	SHELL TREASURY CENTER (WEST) INC. (the “Lender”). 

 WHEREAS: 

The Lender and the Borrower desire to enter into a Revolving Credit Facility Agreement (the “Original Agreement”) pursuant to which
the Lender agrees to make available to the Borrower a revolving credit facility for an amount not exceeding One Billion United States Dollars (USD 1,000,000,000). 

IT IS AGREED as follows: 
  

	1.	DEFINITIONS AND INTERPRETATION 

  

	 	1.1	Definitions 

 In this Original Agreement: 

“Affiliate” means, for any entity, any entity which it directly or indirectly controls, is controlled by, or is under common
control with it. For this purpose “control” means the direct or indirect ownership of in aggregate fifty percent (50%) or more of the voting rights in an entity; provided that the Borrower shall not be deemed to be an Affiliate of the
Lender and vice versa. 
 “Authorisation” means an authorisation, consent, approval, resolution, licence, exemption, filing,
notarisation or registration. 
 “Availability Period” means the period from and including December 1, 2017, to and
including the date falling one (1) Business Day before the Repayment Date. 
 “Available Facility” means the Commitment
minus: 
 (a) the amount of any outstanding Loans under the Facility; and 

(b) the amount of any proposed Loans for which a Utilisation Request has been delivered in accordance with Clause 5. 

“Business Day” means a day (other than a Saturday or Sunday) on which banks are open for general business in New York and
London. 
 “Closing Date” means the date of this Original Agreement. 

“Commitment” means One Billion United States Dollars (USD $1,000,000,000), to the extent not cancelled or reduced by the
Lender under this Original Agreement. 
 “Commitment Fee” has the meaning set forth in Clause 6(c). 

“Commitment Fee Rate” means 19 basis points (.19%) per annum. 

  

			
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 “Default” means an Event of Default or any event or circumstance specified in
Clause 16 which would (with the expiry of a grace period, the giving of notice, the making of any determination under this Original Agreement or any combination of any of the foregoing) be an Event of Default. 

“Disruption Event” means either or both of: 
  

	 	(a)	a material disruption to those payment or communications systems or to those financial markets which are, in each case, required to operate in order for payments to be made in connection with the Loan (or otherwise in
order for the transactions contemplated by this Original Agreement to be carried out) which disruption is not caused by, and is beyond the control of, either of the Parties; or 

 

	 	(b)	the occurrence of any other event which results in a disruption (of a technical or systems-related nature) to the treasury or payments operations of a Party preventing either Party: 

 

	 	(i)	from performing its payment obligations under this Original Agreement; or 

  

	 	(ii)	from communicating with other Parties in accordance with the terms of this Original Agreement, and which (in either such case) is not caused by, and is beyond the control of, the Party whose operations are disrupted.

 “Effective Date” means the date of this Agreement above. 

“Event of Default” means any event or circumstance specified as such in Clause 16. 

“Facility” means the revolving credit facility made available under this Original Agreement as described in Clause 2. 

“Facility Repayment Date” means December 1, 2022. 

“Fee Payment Date” means, in relation to each Loan and subject to Clause 20.3, the twenty-fifth (25th) day of April, July,
October and January in each year and any Prepayment Date and the Loan Repayment Date. 
 “Financial Indebtedness” means any
indebtedness for or in respect of: 
  

	 	(a)	moneys borrowed; 

  

	 	(b)	any amount raised by acceptance under any acceptance credit facility; 

  

	 	(c)	any amount raised pursuant to any note purchase facility or the issue of bonds, notes, debentures, loan stock or any similar instrument; 

 

	 	(d)	the amount of any liability in respect of any lease or hire purchase contract which would, in accordance with generally accepted accounting principles in the United States of America, be treated as a finance or capital
lease; 

  

			
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	 	(e)	receivables sold or discounted (other than any receivables to the extent they are sold on a non-recourse basis); 

 

	 	(f)	any amount raised under any other transaction (including any forward sale or purchase agreement) having the commercial effect of a borrowing; or 

 

	 	(g)	the amount of any liability in respect of any guarantee or indemnity for any of the items referred to in paragraphs (a) to (f) above. 

“Group Company” means and includes Royal Dutch Shell plc and any entity (other than the Lender) which Royal Dutch Shell plc
from time to time directly or indirectly controls. For this purpose: 
  

	 	(a)	an entity directly controls another entity if it owns more than fifty per cent (50%) of the voting rights of the other entity; and 

  

	 	(b)	an entity indirectly controls another entity if a series of entities can be specified beginning with the first entity and ending with the other entity, so related that each entity of the series (except the ultimate
controlling entity) is directly controlled by one or more of the entities earlier in the series. 

 “Interest
Period” means each period by reference to which interest is calculated and payable in respect of a Loan, as determined in accordance with Clause 8.1. 

“Issuance Fee” shall have the meaning set forth in Clause 6(b). 

“LIBOR” means, in relation to any Loan: 
  

	 	(a)	the applicable Screen Rate; or 

  

	 	(b)	(if no Screen Rate is available for US Dollars for the Interest Period of that Loan) the arithmetic mean of the rates (rounded to four (4) decimal places) as supplied to the Lender at its request quoted by the
Reference Banks to leading banks in the London interbank market, as at 11 a.m. on the Quotation Day for the offering of deposits in US Dollars for a three (3) month period. 

“Loan” means each loan made or to be made under the Facility or the principal amount outstanding for the time being of that
loan. 
 “Loan Repayment Date” means the date a Loan is scheduled to be repaid, as confirmed pursuant to Clause 5.3(c) of
this Original Agreement, which shall in no event be later than the Facility Repayment Date. 
 “Material Adverse Effect”
means a material adverse effect on the ability of the Borrower to perform its payment obligations under this Original Agreement. 

  

			
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 “Month” means a period starting on one day in a calendar month and ending on the
numerically corresponding day in the next calendar month, except that: 
  

	 	(a)	if the numerically corresponding day is not a Business Day, that period shall end on the next Business Day in that calendar month in which that period is to end if there is one, or if there is not, on the immediately
preceding Business Day; 

  

	 	(b)	if there is no numerically corresponding day in the calendar month in which that period is to end, that period shall end on the last Business Day in that calendar month. 

“Original Agreement” has the meaning set forth in the recitals to this revolving credit facility agreement. 

“Party” means a party to this Original Agreement. 

“Quotation Day” means, in relation to any period for which an interest rate is to be determined, the day which is two
(2) Business Days before the first day of that period. 
 “Reference Banks” means the principal London offices of HSBC
plc, Citibank N.A. and BNP Paribas or such other banks as may be appointed by the Lender in consultation with the Borrower. 

“Representations” means each representation made by the Borrower in Clause 14. 

“Screen Rate” means the ICE Benchmark Administration’s London interbank offered rate for US Dollars for three months,
displayed on the appropriate page of the Reuters screen. If the agreed page is replaced or service ceases to be available, the Lender may specify another page or service displaying the appropriate rate after consultation with the Borrower,
provided that Lender, with respect to any Interest Period having a duration of less than three months, may replace the applicable three-month period with a period closer to the actual duration of such shorter Interest Period. 

“Security” means a mortgage, charge, pledge, lien or other security interest securing any obligation of any person or any
other agreement or arrangement having a similar effect. 
 “Shell Midstream Partners, L.P” means Shell Midstream Partners,
L.P registered in Delaware with registered company number 46-5223743 and registered address at The Corporation Trust Company, 1209 Orange Street, Wilmington, DE 19801, USA. 

“Tax” means any tax, levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest
payable in connection with any failure to pay or any delay in paying any of the same). 
 “Unpaid Sum” means any sum due and
payable but unpaid by the Borrower under this Original Agreement. 
 “Utilisation” means a utilisation of all or part of the
Commitment under this Original Agreement. 

  

			
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 “Utilisation Date” means the date of a Utilisation, being the date on which the
relevant Loan is to be made. 
 “Utilisation Fee” has the meaning set forth in Clause 6(d). 

“Utilisation Fee Rate” means LIBOR plus 100 basis points (LIBOR + 1.00%) per annum. 

“Utilisation Request” means a notice from the Borrower requesting a drawdown under the Facility in Virtual Treasurer Loans
Advisor. 
 “Virtual Treasurer Loans Advisor” means the secure electronic information storage and communications system used
by the Lender and the Borrower through which Utilisation Requests may be made. 
  

	 	1.2	Construction 

  

	 	(a)	Unless a contrary indication appears, any reference in this Original Agreement to: 

  

	 	(i)	the “Lender”, the “Borrower” or any “Party” shall be construed so as to include its successors in title, permitted assigns and permitted transferees; 

 

	 	(ii)	“assets” includes present and future properties, revenues and rights of every description; 

  

	 	(iii)	any other agreement or instrument is a reference to that other agreement or instrument as amended, novated, supplemented, extended or restated; 

 

	 	(iv)	a “person” includes any individual, firm, company, limited liability company or LLC, corporation, government, state or agency of a state or any association, trust, joint venture, consortium or partnership
(whether or not having separate legal personality); 

  

	 	(v)	a “regulation” includes any regulation, rule, official directive, request or guideline (whether or not having the force of law) of any governmental, intergovernmental or supranational body, agency, department
or regulatory, self-regulatory or other authority or organisation; 

  

	 	(vi)	a provision of law is a reference to that provision as amended or re-enacted; and 

  

	 	(viii)	a time of day is a reference to London time, unless otherwise specified. 

  

	 	(b)	Section, Clause and Schedule headings are for ease of reference only. 

  

			
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	 	(c)	A Default (other than an Event of Default) is “continuing” if it has not been remedied or waived and an Event of Default is “continuing” if it has not been remedied or waived. 

 

	2.	THE FACILITY 

 Subject to the terms of this Original Agreement, the Lender makes
available to the Borrower a US Dollar revolving credit facility in an aggregate amount equal to the Commitment. 
  

	3.	PURPOSE 

  

	 	3.1	Purpose 

 The Borrower shall apply all amounts borrowed by it under this Original
Agreement for acquisitions and/or general corporate purposes. 
  

	 	3.2	Monitoring 

 The Lender is not bound to monitor or verify the application of any amount
borrowed pursuant to this Original Agreement. 
  

	4.	CONDITIONS OF UTILISATION 

  

	 	4.1	Conditions precedent 

 The Lender will only be obliged to comply with Clause 2 if on the
date of the Utilisation Request and on the proposed Utilisation Date: 
  

	 	(a)	no Default is continuing or would result from the proposed Loan; and 

  

	 	(b)	the Representations to be made by the Borrower are true in all material respects. 

  

	5.	UTILISATION 

  

	 	5.1	Utilisation Request 

 The Borrower may utilise the Facility by delivery to the Lender of
a duly completed Utilisation Request not later than two (2) Business Days prior to the proposed Utilisation Date and Lender shall make the Loan available in immediately available funds by close of business (New York City time) on the
Utilisation Date. 
  

	 	5.2	Change or Cancellation of a Utilisation Request 

 A Utilisation Request shall be
irrevocable and will not be regarded as having been duly completed unless: 
  

	 	(a)	the proposed Utilisation Date is a Business Day within the Availability Period; 

  

	 	(b)	the amount of the proposed Loan must be an amount which is not more than the Available Facility plus the amount of any outstanding Loan that is to be repaid with all of part of the proceeds from the proposed
Loan; and 

  

			
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	 	(c)	it specifies the account and bank to which the proceeds of the utilisation are to be credited. 

  

	 	5.3	Confirmation of Terms 

 Promptly upon receipt of a duly completed Utilisation Request,
and in no event later than two (2) Business Days after receipt of such Utilisation Request, the Lender shall make available to the Borrower, electronically or otherwise, the following information 

 

	 	(a)	the amount of the Loan in US Dollars; 

  

	 	(b)	the rate of interest to be charged with respect to the Loan, as calculated under Section 8.1 of this Original Agreement; and 

  

	 	(c)	the Loan Repayment Date. 

  

	6.	REPAYMENT AND FEES 

  

	 	(a)	Each Loan will be repaid in full together with any accrued and unpaid interest thereon by the Borrower on the relevant Loan Repayment Date, net of any previous prepayments made in accordance with this Original
Agreement. All Loans, together with accrued and unpaid interest thereon, outstanding as of the Facility Repayment Date shall immediately become due and payable to Lender on the Facility Repayment Date. 

 

	 	(b)	On the Closing Date or within five (5) Business Days of the date of the Original Agreement, Borrower shall pay to Lender an issuance fee (the “Issuance Fee”) of One Million, Seven Hundred Thousand
United States Dollars (USD 1,700,000). 

  

	 	(c)	Borrower shall pay Lender a commitment fee (the “Commitment Fee”) for the period from and including the Closing Date to the Facility Repayment Date, computed at the Commitment Fee Rate on the average
daily amount of the Available Facility during the period for which payment is made. The Commitment Fee shall be payable quarterly in arrears on each Fee Payment Date, commencing on the first of such dates to occur after the Closing Date.

  

	 	(d)	With respect to each Loan, Borrower shall pay Lender a utilisation fee (the “Utilisation Fee”) on the average daily principal amount of the Loan, computed at the Utilisation Fee Rate; provided, however,
that if any portion of the Loan remains outstanding after the relevant Loan Repayment Date, Borrower shall continue to pay the Utilisation Fee with respect to such unpaid portion of the Loan. In any quarter in which a Utilisation is outstanding, the
Utilisation Fee shall be payable quarterly in arrears on each Fee Payment Date. 

  

			
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	7.	PREPAYMENT AND CANCELLATION 

  

	 	7.1	Illegality 

 If at any time prior to the Repayment Date, it becomes unlawful in any
applicable jurisdiction for the Lender to perform any of its obligations as contemplated by this Original Agreement or to fund or maintain its participation in any Loan: 
  

	 	(a)	the Lender shall promptly notify the Borrower upon becoming aware of that event; 

  

	 	(b)	the Commitment will be immediately cancelled; and 

  

	 	(c)	the Borrower shall prepay the Loan in full, together with all accrued interest and fees payable hereunder, on the date specified by the Lender in the notice delivered to the Borrower (being no earlier than the last day
of any applicable grace period permitted by law). 

  

	 	7.2	Voluntary prepayment of Loans 

 The Borrower may prepay the whole or any part of any Loan
by giving at least two (2) Business Days’ written notice to the Lender. 
  

	 	7.3	Restrictions 

  

	 	(a)	Any notice of cancellation or prepayment given by any Party under this Clause 7 shall be irrevocable and, unless a contrary indication appears in this Original Agreement, shall specify the date or dates upon which the
relevant cancellation or prepayment is to be made and the amount of that cancellation or prepayment. 

  

	 	(b)	Any prepayment under this Original Agreement shall be made together with accrued interest on the amount prepaid and without premium or penalty. 

 

	 	(c)	Any amounts repaid by the Borrower under this Original Agreement may be re-borrowed. 

  

	 	(d)	No amount of the Commitment cancelled under this Original Agreement may be subsequently reinstated. 

  

	8.	INTEREST 

  

	 	8.1	Calculation of interest 

  

	 	(a)	The rate of interest on each Loan for each Interest Period shall be the Utilization Fee Rate as of the Quotation Day relating to such Interest Period. 

 

	 	(b)	Each Interest Period shall start on a Fee Payment Date and end on the next following Fee Payment Date except that the first Interest Period in respect of each Loan shall start on its Utilisation Date and end on the next
Fee Payment Date and any Interest Period which would otherwise extend beyond the Final Repayment Date shall instead end on that date. 

  

			
	Revolving Credit Facility Agreement	  	8

	 	8.2	Payment of interest 

 The Borrower shall pay accrued interest on each Loan for each
Interest Period in arrears on the Fee Payment Date and on the Repayment Date and any prepayment date if the Repayment Date and any prepayment date are within an Interest Period. 

 

	 	8.3	Default interest 

  

	 	(a)	If the Borrower fails to pay any amount payable by it under this Original Agreement on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after
judgment) at a rate which, subject to paragraph (b) below, is two per cent (2%) per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment,
constituted a Loan for successive Interest Periods. Any interest accruing under this Clause 8.3 shall be immediately payable by the Borrower on demand by the Lender. 

 

	 	(b)	Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.

  

	9.	CHANGES TO THE CALCULATION OF INTEREST 

  

	 	9.1	Absence of quotations 

 Subject to Clause 9.2, if LIBOR is to be determined by reference
to the Reference Banks but a Reference Bank does not supply a quotation by 11 a.m. on the Quotation Day, the 3-month LIBOR shall be determined on the basis of the quotations of the remaining Reference Banks.

  

	 	9.2	Market disruption 

  

	 	(a)	In this Original Agreement “Market Disruption Event” means at or about noon on the Quotation Day for the relevant Interest Period if the Screen Rate is not available and none or only one of the
Reference Banks supplies a rate to the Lender to determine 3-month LIBOR for US Dollars. 

If a Market Disruption Event occurs in relation to a Loan for any Interest Period, then the rate of interest on that Loan for the Interest
Period shall be the percentage rate per annum which is the rate notified to the Borrower by the Lender as soon as practicable and in any event before interest is due to be paid in respect of that Loan, to be that which expresses the latest Screen
Rate available before 11 a.m. on the Quotation Day for the offering of deposits in US Dollars for a three (3) month period. 

  

			
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	10.	INCREASED COSTS 

  

	 	10.1	Increased costs 

  

	 	(a)	Subject to Clause 10.2 the Borrower shall, within three (3) Business Days of a demand by the Lender, pay the amount of any Increased Costs incurred by the Lender or any of its Affiliates as a result of (i) the
introduction of or any change in (or in the interpretation, administration or application of) any applicable law or regulation or (ii) compliance with any applicable law or regulation made after the date of this Original Agreement.

  

	 	(b)	In this Original Agreement “Increased Costs” means: 

  

	 	(i)	an additional or increased cost; or 

  

	 	(ii)	a reduction of any amount due and payable under this Original Agreement, 

 which is incurred or
suffered by the Lender or any of its Affiliates to the extent that it is attributable to the Lender having entered into the Commitment or funding or performing its obligations under this Original Agreement. 

 

	 	10.2	Exceptions 

 Clause 10.1 does not apply to the extent any Increased Cost is attributable
to the wilful breach by the Lender or its Affiliates of any law or regulation or to the transfer, assignment or subparticipation of this Facility in accordance with Clause 18. 

 

	11.	TAX GROSS-UP AND INDEMNITY  

  

	 	11.1	No deduction 

 All payments by the Borrower under this Original Agreement shall be made
without any deduction and free and clear of and without deduction for or on account of any Taxes, except to the extent that the Borrower is required by law to make payment subject to any Taxes. 

 

	 	11.2	Indemnity 

  

	 	(a)	If any relevant Tax or amounts in respect of relevant Tax must be deducted from any amounts payable or paid by the Borrower to the Lender under this Original Agreement, the Borrower shall pay such additional amounts as
may be necessary to ensure that the Lender receives on the due date a net amount equal to the full amount which it would have received had the payment not been made subject to the relevant Tax. 

 

	 	(b)	 Borrower’s obligation to pay additional amounts pursuant to Clause 11.2(a) shall not apply to the extent
that such additional amounts are the result of, with respect to the Lender, (i) income or franchise Taxes imposed on (or measured by) its net income by the United States of America, or by any laws of the jurisdiction in which the Lender is

  

			
	Revolving Credit Facility Agreement	  	10

	 	
located, (ii) any branch profits Taxes imposed by the United States of America, (iii) any United States federal withholding Tax payable as a result of the Lender’s failure to
comply with Clause 11.3, or (iv) due to the transfer, assignment or subparticipation of this Facility in accordance with Clause 18. 

  

	 	11.3	Exemptions 

 If the Lender is entitled to an exemption from or reduction of withholding
tax under any law of the jurisdiction in which the Borrower is located, or any treaty to which such jurisdiction is a party, with respect to payments under this Original Agreement, it shall deliver to the Borrower, prior to the first Utilisation and
at such other time(s) prescribed by law or reasonably requested by the Borrower, such properly completed and executed documentation prescribed by law as will permit such payments to be made without withholding or at a reduced rate. 

 

	12.	MITIGATION BY THE LENDER 

  

	 	12.1	Mitigation 

  

	 	(a)	The Lender shall, in consultation with the Borrower, take all reasonable steps to mitigate any circumstances which arise and which would result in any amount becoming payable under or pursuant to, or cancelled pursuant
to, any of Clause 7.1 or 10 including (but not limited to) transferring its rights and obligations under this Original Agreement to another Affiliate. 

  

	 	(b)	Paragraph (a) above does not in any way limit the obligations of the Borrower under this Original Agreement. 

  

	 	12.2	Limitation of liability 

  

	 	(a)	The Borrower shall indemnify the Lender for all costs and expenses reasonably incurred by the Lender as a result of steps taken by it under Clause 12.1. 

 

	 	(b)	The Lender is not obliged to take any steps under Clause 12.1 if, in its opinion (acting reasonably), to do so might be prejudicial to it. 

 

	13.	COSTS AND EXPENSES 

 The Borrower shall, within fifteen (15) Business Days of
demand, pay to the Lender the amount of all loss, liability, costs and expenses (including legal fees) incurred by the Lender in connection with: 
  

	 	(a)	the occurrence of any Event of Default; or 

  

	 	(b)	the enforcement of, or the preservation of any rights under, this Original Agreement. 

  

			
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	14.	REPRESENTATIONS 

 The Borrower makes the representations and warranties set out in this
Clause 14 to the Lender on the date of this Original Agreement. 
  

	 	14.1	Due Incorporation 

 The Borrower: 

 

	 	(a)	is a duly formed limited partnership validly existing under the law of its jurisdiction of formation; and 

  

	 	(b)	has the power to own its assets and carry on its business as it is being conducted. 

  

	 	14.2	Binding obligations 

 The obligations expressed to be assumed by it in this Original
Agreement are legal, valid, binding and enforceable obligations, except as limited by bankruptcy, insolvency or other laws of general application relating to or affecting the enforcement of creditors’ rights generally and general principles of
equity. 
  

	 	14.3	Non-conflict with other obligations 

 The entry
into and performance by it of, and the transactions contemplated by, this Original Agreement do not and will not conflict with: 
  

	 	(a)	any law or regulation applicable to it; 

  

	 	(b)	its constitutional documents; or 

  

	 	(c)	any agreement or instrument binding upon it or any of its subsidiaries or any of its assets. 

  

	 	14.4	Power and authority 

 It has the power to enter into, perform and deliver, and has taken
all necessary action to authorise its entry into, performance and delivery of, this Original Agreement. 
  

	 	14.5	Validity and admissibility in evidence 

 All Authorisations required or desirable: 

 

	 	(a)	to enable it lawfully to enter into, exercise its rights and comply with its obligations in this Original Agreement to which it is a party; and 

 

	 	(b)	to make this Original Agreement admissible in evidence in its jurisdiction of incorporation, have been obtained or effected and are in full force and effect. 

  

			
	Revolving Credit Facility Agreement	  	12

	 	14.6	Deduction of Tax 

 Subject to receipt by the Borrower from the Lender of the documents
referred to in Clause 11.3, it is not required to make any deduction for or on account of tax from any payment it may make under this Original Agreement. 
  

	 	14.7	No filing or stamp taxes 

 Under the law of its jurisdiction of incorporation it is not
necessary that this Original Agreement be filed, recorded or enrolled with any court or other authority in that jurisdiction or that any stamp, registration or similar tax be paid on or in relation to this Original Agreement or the transactions
contemplated by this Original Agreement. 
  

	 	14.8	No Default 

  

	 	(a)	No Event of Default is continuing or might reasonably be expected to result from the making of any Utilisation. 

  

	 	(b)	No other event or circumstance is outstanding, which constitutes a default under any other agreement or instrument which is binding on it or any of its subsidiaries or to which its (or any of its subsidiaries’)
assets are subject which might reasonably be expected to have a Material Adverse Effect. 

  

	 	14.9	Pari passu ranking 

 Its payment obligations under this Original Agreement rank at least
pari passu with the claims of all its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally. In the event that a lender is permitted to and receives Security under the terms
of any other Financial Indebtedness of the Borrower, the Lender shall be secured hereunder on substantially similar terms. 
  

	 	14.10	No proceedings pending or threatened 

 No litigation, arbitration or administrative
proceedings of or before any court, arbitral body or agency which, if adversely determined, might reasonably be expected to have a Material Adverse Effect have (to the best of its knowledge and belief) been started or threatened against it or any of
its subsidiaries. 
  

	 	14.11	Authorisations 

 Under the laws of Delaware all authorisations required on its part in
the United States of America with its entry into, performance and validity and enforceability of this Original Agreement have been obtained or effected (as appropriate) and are in full force and effect. 

 

	 	14.12	No Misleading Information 

  

	 	(a)	Any factual information provided by the Borrower to the Lender in connection with this Original Agreement was true and accurate in all material respects as at the date it was provided or as at the date (if any) at which
it is stated. 

  

			
	Revolving Credit Facility Agreement	  	13

	 	(b)	Nothing has occurred or been omitted from the information provided to the Lender in connection with this Original Agreement and no information has been given or withheld that results in the information provided being
untrue or misleading in any material respect. 

  

	 	14.13	Compliance with Law 

 The Borrower has complied in all respects with all laws to which it
may be subject, if failure to comply would materially impair its ability to perform its obligations under this Original Agreement. 
  

	 	14.14	Repetition 

 The Representations are deemed to be made by the Borrower by reference to
the facts and circumstances then existing on the date of each Utilisation Request and the first day of each Interest Period. 
  

	15.	GENERAL COVENANTS 

 The undertakings in this Clause 15 remain in force from the date of
this Original Agreement for so long as any amount is outstanding under this Original Agreement. 
  

	 	15.1	Authorisations 

 The Borrower shall promptly: 

 

	 	(a)	obtain, comply with and do all that is necessary to maintain in full force and effect; and 

  

	 	(b)	supply certified copies to the Lender of, any Authorisation required under any law or regulation of its jurisdiction of incorporation to enable it to perform its obligations under this Original Agreement and to ensure
the legality, validity, enforceability or admissibility in evidence in its jurisdiction of incorporation of this Original Agreement. 

  

	 	15.2	Compliance with laws 

 The Borrower shall comply in all respects with all laws to which
it may be subject, if failure so to comply would materially impair its ability to perform its obligations under this Original Agreement. 
  

	 	15.3	Negative pledge 

 The Borrower shall not create or permit to subsist any Security over
any of its assets other than such Security as agreed between the Lender and the Borrower. 
  

	 	15.4	Pari Passu Ranking 

 The Borrower shall procure that its payment obligations under this
Original Agreement do and will rank at least pari passu with all its other present and future unsecured and unsubordinated obligations, except for obligations mandatorily preferred by laws of general application. 

  

			
	Revolving Credit Facility Agreement	  	14

	 	15.5	No additional indebtedness 

 The borrower shall not incur additional indebtedness either
through loans, issuing bonds, notes, debentures, loan stock or any similar instrument, except for: 
  

	 	a)	Bank loans or Group company loans up to USD 600,000,000. 

 without the express written consent
of the Lender. For purposes of this clause, this restriction does not apply to other loans between the Lender and the Borrower. 
  

	16.	EVENTS OF DEFAULT 

 Each of the events or circumstances set out in this Clause 16 is an
Event of Default. 
  

	 	16.1	Non-payment 

 The Borrower does not pay on the
due date any amount payable pursuant to this Original Agreement at the place in which it is required to be paid unless its failure to pay is caused by: 
  

	 	(a)	an administrative or technical error; or 

  

	 	(b)	a Disruption Event, 

 and repayment is made within two (2) Business Days of its due date.

  

	 	16.2	Breach of Covenant 

 If there is a material breach of any of the covenants in Clause 15,
which if capable of remedy, is not remedied within ten (10) Business Days of receipt of written notice from the Lender, requiring such breach to be remedied. 
  

	 	16.3	Misrepresentation 

 Any representation or statement made or deemed to have been made by
the Borrower in this Original Agreement or any other document delivered by or on behalf of the Borrower under or in connection with this Original Agreement is or proves to have been materially incorrect or misleading when made or deemed to have been
made. 
  

	 	16.4	Cross default 

  

	 	(a)	Any Financial Indebtedness of the Borrower is not paid when due nor within any originally applicable grace period. 

  

	 	(b)	Any Financial Indebtedness of the Borrower is declared to be or otherwise becomes due and payable prior to its specified maturity as a result of an event of default (however described). 

 

	 	(c)	Any commitment for any Financial Indebtedness of the Borrower is cancelled or suspended by a creditor of the Borrower as a result of an event of default (however described). 

  

			
	Revolving Credit Facility Agreement	  	15

	 	(d)	Any creditor of the Borrower becomes entitled to declare any Financial Indebtedness of the Borrower due and payable prior to its specified maturity as a result of an event of default (however described).

  

	 	(e)	No Event of Default will occur under this clause 16.4 if the aggregate amount of Financial Indebtedness or commitment for Financial Indebtedness falling within clauses 16.4(a) to 16.4(d) above is less than one hundred
million US Dollars (USD 100,000,000) (or its equivalent in any other currency or currencies). 

  

	 	16.5	Insolvency 

  

	 	(a)	The Borrower is unable or admits inability to pay its debts as they fall due, suspends making payments on any of its debts or, by reason of actual or anticipated financial difficulties, commences negotiations with one
or more of its creditors with a view to rescheduling any of its Financial Indebtedness. 

  

	 	(b)	A moratorium is declared in respect of any Financial Indebtedness of the Borrower. 

  

	 	16.6	Insolvency proceedings 

 Any corporate action, legal proceeding, filing or other
procedure or step is taken in relation to: 
  

	 	(a)	the suspension (provisional or otherwise) of payments, a moratorium of any Financial Indebtedness, the bankruptcy, winding-up, dissolution, administration or reorganisation (by
way of voluntary arrangement, scheme of arrangement or otherwise) of the Borrower or any of its assets; 

  

	 	(b)	the making of a general assignment for the benefit of its creditors; 

  

	 	(c)	the appointment of a liquidator, receiver, administrative receiver, administrator, trustee in bankruptcy, compulsory manager or other similar officer in respect of the Borrower or any of its assets; or

  

	 	(d)	enforcement of any Security over any assets of the Borrower, or any analogous procedure or step is taken in any jurisdiction. 

  

	 	16.7	Creditors’ process 

 Any expropriation, attachment, sequestration, distress or
execution either before judgment or under an execution, affecting any asset or assets of the Borrower having a book value of ten million US Dollars (USD $10,000,000) or more, excluding any such action which is being contested in good faith by
appropriate proceedings promptly instituted and diligently conducted. 
  

	 	16.8	Unlawfulness and Invalidity 

  

	 	(a)	It is or becomes unlawful for the Borrower to perform any of its material obligations under this Original Agreement. 

  

			
	Revolving Credit Facility Agreement	  	16

	 	(b)	Any obligation(s) of the Borrower under this Original Agreement is not or ceases to be legal, valid, binding or enforceable and the cessation individually or cumulatively materially and adversely affects the interests
of the Lender under this Original Agreement. 

  

	 	(c)	This Original Agreement ceases to be in full force and effect or is alleged by either party to be ineffective. 

  

	 	16.9	Repudiation 

 The Borrower repudiates this Original Agreement or evidences an intention
to repudiate this Original Agreement. 
  

	 	16.10	Acceleration 

 On and at any time after the occurrence of an Event of Default which is
continuing, the Lender may by notice to the Borrower: 
  

	 	(a)	cancel the Commitment whereupon it shall immediately be cancelled; and/or 

  

	 	(b)	declare that all or part of the Loans, together with accrued interest, and all other amounts accrued or outstanding under this Original Agreement be immediately due and payable, whereupon they shall become immediately
due and payable. 

  

	17.	TERMINATION EVENT 

 In the event the Group Companies dispose of their aggregate
shareholding in the Borrower (whether held directly or indirectly), the Lender shall have the right to terminate the Facility by giving the Borrower forty-five (45) days’ prior written notice requiring repayment of all outstanding amounts
by the end of that forty-five day period or as otherwise agreed between the Borrower and the Lender. 
  

	18.	CHANGES TO THE LENDER 

 The Lender may transfer, assign or
sub-participate all or any part of its commitments under the Facility to a Group Company with the Borrower’s prior written consent, such consent not to be unreasonably withheld or delayed. 

 

	19.	CHANGES TO THE BORROWER 

 The Borrower may not assign any of its rights or transfer any
of its rights or obligations under this Original Agreement. 
  

	20.	PAYMENT MECHANICS 

  

	 	20.1	Payments to the Lender 

  

	 	(a)	On each date on which the Borrower is required to make a payment under this Original Agreement, the Borrower shall make the same available to the Lender (unless a contrary indication appears in this Original Agreement)
for value on the due date at the time as specified by the Lender as being customary at the time for settlement of transactions in the place of payment. 

  

			
	Revolving Credit Facility Agreement	  	17

	 	(b)	Payment shall be made in US Dollars to such account with such bank as the Lender specifies. 

  

	 	20.2	No set-off by the Borrower 

 All payments to be
made by the Borrower under this Original Agreement shall be calculated and be made without (and free and clear of any deduction for) set-off or counterclaim. 

 

	 	20.3	Business Days 

  

	 	(a)	Any payment which is due to be made on a day that is not a Business Day shall be made on the next Business Day in the same calendar month (if there is one) or the preceding Business Day (if there is not).

  

	 	(b)	During any extension of the due date for payment of any principal or Unpaid Sum under this Original Agreement interest shall be payable on the principal or Unpaid Sum at the rate payable on the original due date.

  

	 	20.4	Currency of account 

 US Dollars are the currency of account and payment for any sum
due from the Borrower under this Original Agreement. 
  

	21.	SET-OFF 

 The Lender may set off any matured
obligation due from the Borrower under this Original Agreement against any matured obligation owed by the Lender to the Borrower, regardless of the place of payment, booking branch or currency of either obligation. If the obligations are in
different currencies, the Lender may convert either obligation at a market rate of exchange in its usual course of business for the purpose of the set-off. 

 

	22.	NOTICES 

  

	 	22.1	Communications in writing 

 Any communication to be made under or in connection with this
Original Agreement shall be made in writing and, unless otherwise stated, may be made by e-mail or letter. 
  

	 	22.2	Addresses 

 The address (and the department or officer, if any, for whose attention the
communication is to be made) of each Party for any communication or document to be made or delivered under or in connection with this Original Agreement is: 
  

	 	(a)	in the case of the Borrower, that identified with its name below; 

  

	 	(b)	in the case of the Lender, that identified with its name below, with the FACILITY UTILISATION REQUEST also being sent electronically to the following email addresses: 

 

	 	i.	gxsifstodealingroommailbox@SHELL.com; 

  

			
	Revolving Credit Facility Agreement	  	18

	 	ii.	gxsiftoexternalmarketsteam@SHELL.com; 

 or any substitute address or department or
officer as the Party may notify to the other Party with not less than five (5) Business Days’ notice. 
  

	 	22.3	Delivery 

 Any communication or document made or delivered by one person to another under
or in connection with this Original Agreement will only be effective when it has been left at the relevant address or five (5) Business Days after being deposited in the post postage prepaid in an envelope addressed to it at that address and,
if a particular department or officer is specified as part of its address details provided under Clause 22.2, if addressed to that department or officer. 
  

	 	22.4	English language 

 Any communication or document to be made or delivered under or in
connection with this Original Agreement must be in English. 
  

	23.	CALCULATIONS AND CERTIFICATES 

  

	 	23.1	Accounts 

 In any litigation or arbitration proceedings arising out of or in connection
with this Original Agreement, the entries made in the accounts maintained by the Lender are prima facie evidence of the matters to which they relate. 
  

	 	23.2	Certificates and Determinations 

 Any certification or determination by the Lender of a
rate or amount under this Original Agreement is, in the absence of manifest error, conclusive evidence of the matters to which it relates. 
  

	 	23.3	Day count convention 

 Any interest, commission or fee accruing under this Original
Agreement will accrue from day to day and is calculated on the basis of the actual number of days elapsed and a year of three hundred and sixty (360) days or, in any case where the practice in the London interbank market differs, in accordance
with that market practice. 
  

	24.	PARTIAL INVALIDITY 

 If, at any time, any provision of this Original Agreement is or
becomes illegal, invalid or unenforceable in any respect under any law of any jurisdiction, neither the legality, validity or enforceability of the remaining provisions nor the legality, validity or enforceability of such provision under the law of
any other jurisdiction will in any way be affected or impaired. 
  

	25.	REMEDIES AND WAIVERS 

 No failure to exercise, nor any delay in exercising, on the part
of the Lender, any right or remedy under this Original Agreement shall operate as a waiver, nor shall any single or partial exercise of any right or remedy prevent any further or 

  

			
	Revolving Credit Facility Agreement	  	19

 
other exercise or the exercise of any other right or remedy. The rights and remedies provided in this Original Agreement are cumulative and not exclusive of any rights or remedies provided by
law. 
  

	26.	AMENDMENTS 

 No variation or amendment of this Original Agreement or the obligations of
the Borrower hereunder shall be valid unless it is in writing and signed by or on behalf of each of the Parties. 
  

	27.	COUNTERPARTS 

 This Original Agreement may be executed in any number of counterparts, and
this has the same effect as if the signatures on the counterparts were on a single copy of this Original Agreement. 
  

	28.	GOVERNING LAW  

 This Original Agreement shall be governed by the laws of the state of
New York. 
  

	29.	EFFECTIVE DATE 

 This Original Agreement shall come into effect on the Effective Date
hereof. 
 (Signature Page Follows) 

  

			
	Revolving Credit Facility Agreement	  	20

 This Original Agreement has been entered into as of the Effective Date stated at the beginning of this Original
Agreement. 
 Signed by 
 SHELL MIDSTREAM PARTNERS, L.P.

 C/O Shell Midstream Partners GP LLC 
 910 Louisiana
Street 
 Houston, Texas 77002 
 Facsimile: 832 337 3525 

Attention: Treasurer 
  

			
	By:	 	SHELL MIDSTREAM PARTNERS GP LLC,
		 	its General partner
		
	By:	 	 /s/ Shawn J. Carsten

	Name:	 	Shawn J. Carsten
	Title:	 	Vice President and Chief Financial Officer
	
	Signed by
	
	SHELL TREASURY CENTER (WEST) INC.
	Facsimile: 832-337-0025
	Attention: Treasurer
		
	By:	 	 /s/ Ernest Stutzman

	Name:	 	Ernest Stutzman
	Title:	 	Treasurer

 Signature Page 

Revolving Credit Facility AgreementEX-10.1

 Exhibit 10.1 

EXECUTION VERSION 

EMPLOYMENT AGREEMENT 
 THIS
AGREEMENT (this “Agreement”) is made and entered into as of the 30th day of November, 2017, by and between MOBILE MINI, INC., a Delaware corporation (the
“Company”), and Mark Krivoruchka (the “Employee”). The Company and the Employee are hereinafter collectively referred to as the “Parties”. 

RECITALS 
 WHEREAS, the
Company and the Employee desire to enter into this Agreement to memorialize the terms and conditions pursuant to which the Company has engaged the Employee to serve in certain capacities as an employee of the Company; 

NOW, THEREFORE, in consideration of the premises and of the mutual covenants herein contained, the Parties hereby represent, covenant and
agree as follows: 
 AGREEMENT 

1.    Employment. The Company hereby agrees to continue to employ the Employee and the Employee hereby agrees to be
employed by the Company upon the terms and conditions herein set forth. 
 2.    Term. This Agreement shall be
effective for a term commencing on the date hereof and, subject to termination under Section 5, expiring on December 31, 2019 (the “Employment Period”). Following the Employment Period (if this Agreement is not otherwise
terminated in accordance with its terms), the Employee shall be eligible to become a consultant to the Company for the period of one year, or until December 31, 2020 (the “Consulting Period”). During the Consulting Period, the
Employee shall provide consulting and transition services at the request of the Company in exchange for an hourly rate to be based upon the Employee’s Base Salary in effect at the end of the Employment Period. At the end of the Consulting
Period, if the Employee is in compliance with his obligations hereunder (or any other agreement with the Company then in effect), the Employee shall be entitled to the Accelerated Equity Benefit in Section 6(b)(iii). 

3.    Duties of the Employee. 

(a)    The Employee shall serve as Senior Vice President & Chief Human Resources Officer of the Company and the
Employee agrees to perform such duties and responsibilities customarily associated with the position, including without limitation the duties and responsibilities as may be assigned from time to time by the Chief Executive Officer of the Company.
The Employee shall report directly to the Chief Executive Officer. 
 (b)    During the term of this Agreement, the
Employee shall devote his normal working time and attention to the business and affairs of the Company, and, subject to the terms 

 
of this Section 3(b) with respect to service on the board of directors of other entities, will not render services to any other business without the prior written approval of the Chief
Executive Officer of the Company. During his employment hereunder, the Employee shall not, directly or indirectly, engage or participate in any business that is competitive in any manner with the business of the Company. Subject to obtaining the
prior express consent or approval of the Chief Executive Officer of the Company, the Employee may serve as a member of the board of directors of other entities (other than the board of directors of a business that is competitive with the business of
the Company), provided that such service shall not interfere with the Employee’s performance of the Employee’s duties hereunder. The Employee shall request the consent or approval of the Chief Executive Officer of the Company of the
Employee’s intention to serve on the board of directors (or similar governing body) of any company or other entity prior to commencing such service. 

4.    Compensation. During the term of this Agreement, the Employee shall be eligible to the following compensation
and benefits: 
 (a)    Base Salary and Bonus. The Company agrees to pay the Employee a base salary at the rate
of $375,000 per annum or such larger amount as the Board may from time to time determine (hereinafter referred to as the “Base Salary”). Employee’s Base Salary shall be reviewed annually. Such Base Salary shall be payable in
accordance with the Company’s customary practices applicable to its senior executives. In addition to the Base Salary, Employee shall be eligible for an incentive bonus subject to the terms and conditions of the Company’s incentive bonus
plan as in effect from time to time for senior management and as the Compensation Committee of the Board of Directors of the Company (the “Compensation Committee”) in its discretion may determine (the “Bonus”).
Employee’s current target Bonus is 75% of Employee’s Base Salary, subject to the Company’s achievement of performance targets. 

(b)    Participation in Equity-Based Plans. The Employee shall be entitled to participate in all equity-based
employee benefit plans maintained from time to time during the term of this Agreement (including, without limitation, any such plans as may hereafter established by the Company) for the purpose of providing compensation and/or benefits to employees
of the Company including, but not limited to, the Company’s 2006 Equity Incentive Plan (or any successor plan or plans) and other bonus or incentive compensation plans. Annual equity grants for Senior Vice Presidents currently have a value of
100% of Base Salary, subject to Board approval. Equity awards will be subject to change and approval by the Compensation Committee and the terms of the equity-based employee benefit plan and any applicable award documents. Upon execution of this
Agreement, the Employee shall receive a full year grant for 2017 based on the terms, conditions and targets set forth by the Compensation Committee for the equity grants made to other senior executives of the Company. 

(c)    Employee Benefits. The Employee shall be entitled to participate in (including coverage for the
Employee’s eligible dependents under the Company’s medical, dental and similar welfare benefit plans as applicable) all employee benefit plans, practices and programs maintained by the Company and made available to employees generally
including, without limitation, all retirement, profit sharing, savings, 401(k), medical, hospitalization, disability, dental, life or travel accident insurance benefit plans, as well as any plans, practices

  
 2 

 
and programs maintained generally for senior management including, without limitation, any deferred compensation, supplemental medical or life insurance plans. The Employee’s participation
in such plans, practices and programs shall be on the same basis and terms as are applicable to senior executives of the Company generally. These benefits are subject to change from time to time and any benefit may be added, deleted or modified by
the Company in its sole discretion. 
 (d)    Other Benefits. The Company shall pay or reimburse the Employee for
reasonable and necessary expenses incurred by the Employee in connection with the Employee’s duties on behalf of the Company in accordance with the general policies of the Company. 

(e)    Vacation and Sick Leave. The Employee shall be entitled to annual vacation of four weeks and one week of
paid sick time, or such amounts as provided in accordance with the policies as periodically established by the Board of Directors of the Company (the “Board”) for other senior executives of the Company. 

5.    Termination. In addition to the expiration of the term of this Agreement pursuant to Section 2, the
Employee’s employment hereunder may be terminated under the following circumstances: 
 (a)    Disability.
The Company may terminate the Employee’s employment upon 30 days written notice after having established the Employee’s Disability; provided that the Company exercises reasonable efforts to accommodate such disability in accordance
with the Americans with Disabilities Act. For purposes of this Agreement, “Disability” means a physical or mental infirmity which impairs the Employee’s ability to perform substantially his duties for a period of ninety
(90) consecutive days. A determination of Disability shall be made by a physician satisfactory to both the Employee and the Company, which physician’s determination as to Disability shall be made within ten (10) days of the request
therefor and shall be binding on all parties; provided, however, that if the Employee and the Company do not agree on a physician, the Employee and the Company shall each select a physician and these two together shall select a third physician,
which third physician’s determination as to Disability shall be binding on all parties. The Employee shall be entitled to the compensation and benefits provided for under this Agreement for any period during the term of this Agreement and prior
to termination in accordance herewith relating to Employee’s Disability. Notwithstanding anything contained in this Agreement to the contrary, until the Termination Date specified in a Notice of Termination (as each term is hereinafter defined)
relating to the Employee’s Disability, the Employee shall be entitled to return to the Employee’s position with the Company as set forth in this Agreement in which event no Disability of the Employee will be deemed to have occurred. 

(b)    Cause. The Company may terminate the Employee’s employment by written notice for “Cause.” The
Company shall be deemed to have terminated the Employee’s employment for “Cause” in the event that the Employee’s employment is terminated for any of the following reasons: (i) the commission of an act of fraud or
intentional misrepresentation or an act of embezzlement, misappropriation or conversion of assets or opportunities of the Company; (ii) material dishonesty or willful misconduct in the performance of duties; (iii) willful violation of any
law, rule or regulation in connection with the performance of duties 

  
 3 

 
(other than traffic violations or similar offenses); provided, that no act or failure to act shall be considered willful unless done or omitted to be done in bad faith and without reasonable
belief that the action or omission was in the best interests of the Company; or (iv) any material breach by the Employee of any provision of this Agreement (after notice from the Company and thirty (30) days to cure such breach and such
breach is not cured). Notwithstanding anything contained in this Agreement to the contrary, no failure to perform by the Employee after the Notice of Termination is given by the Company shall constitute Cause for purposes of this Agreement. 

(c)    Good Reason. The Employee may terminate the Employee’s employment for “Good Reason”, provided
that the Employee gives the Company notice of such Good Reason within a reasonable period (but, except as provided below, in no event more than ninety (90) days) after the Employee has knowledge of the events giving rise to the Good Reason and
the Employee resigns employment within ninety (90) days following the date that the Employee gives the Company notice of such Good Reason. For purposes of this Agreement, “Good Reason” shall mean, without the Employee’s
consent: 
 (i) the assignment to Employee of material duties that are materially inconsistent with Employee’s title and
responsibilities as contemplated by Section 3(a) of this Agreement; 
 (ii) a reduction in Employee’s Base Salary
(provided, that an “across the board” reduction in base salary and/or bonus opportunities affecting all of the senior executive employees of Company (excluding the Chief Executive Officer for this purpose) on a substantially similar
basis shall not constitute “Good Reason”); 
 (iii) any material breach by the Company of any provision of this Agreement; 

(iv) any purported termination of the Employee’s employment for Cause by the Company which does not comply with the terms of
Section 5 of this Agreement; or 
 (v) the failure of the Company to obtain an agreement, satisfactory to the Employee, from any
successor or assign of the Company to assume and agree to perform this Agreement, as contemplated in Section 10 hereof. 
 The
Employee’s right to terminate the Employee’s employment pursuant this Section 5(c) shall not be affected by the Employee’s incapacity due to physical or mental illness if such incapacity occurs after the event or condition giving
rise to the Employee’s right to terminate the Employee’s employment pursuant to this Section 5(c). 
 Notwithstanding
anything to the contrary stated above in this Section 5(c) or elsewhere in this Agreement, the Employee will only be treated as having Good Reason to terminate the Employee’s employment pursuant to clauses (i) - (v) if the Employee has
given Company notice and a period of at least thirty (30) days during which it can remedy any of such conditions and, during such period, the Company fails to remedy such condition. 

  
 4 

 (d)    Voluntary Termination. The Employee may voluntarily terminate
the Employee’s employment hereunder at any time upon ninety (90) day prior notice to the Company. 

(e)    Termination by Company Without Cause. The Company may terminate the Employee’s employment hereunder for
any reason by notice to the Employee. 
 (f)    Change in Control; Accelerated Vesting of Equity-Based Awards. In
certain circumstances, termination may occur following a Change in Control (as contemplated in Section 6 hereof). For purposes of this Agreement, a “Change in Control” shall mean any of the following events: 

(i) an acquisition (other than directly from the Company) of any voting securities of the Company (the “Voting Securities”)
by any “Person” (as the term person is used for purposes of Section 13(d) or 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), immediately after which such Person has
“Beneficial Ownership” (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of thirty-five percent (35%) or more of the then outstanding Shares of the combined voting power of
the Company’s then outstanding Voting Securities; provided, however, in determining whether a Change in Control has occurred, Shares or Voting Securities which are acquired in a
“Non-Control Acquisition” (as hereinafter defined) shall not constitute an acquisition which would cause a Change in Control. A “Non-Control
Acquisition” shall mean an acquisition by (A) an employee benefit plan (or a trust forming a party thereof) maintained by (1) the Company or (2) any corporation or other Person of which all of its voting power or its voting
equity securities or equity interest is owned, directly or indirectly, by the Company prior to such acquisition (for purposes of this definition, a “Subsidiary”, (B) the Company or its Subsidiaries, or (C) any Person in
connection with a “Non-Control Transaction” (as hereinafter defined). 
 (ii) the
individuals who, as of the date of this Agreement are members of the Board (the “Incumbent Board”), cease for any reason to constitute at least two-thirds of the members of the Board of
Directors of the Company; provided, however, that if the election, or nomination for election by the Company’s common stockholders, of any new director was approved by a vote of at least
two-thirds of the Incumbent Board, such new director shall, for purposes of this Agreement, be considered as a member of the Incumbent Board; provided, further, however, that no individual
shall be considered a member of the Incumbent Board if such individual initially assumed officer as a result of either an actual or threatened “Election Contest” (as described in Rule 14a-11
promulgated under the Exchange Act) or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board (a “Proxy Contest”) including by reason of any agreement intended to avoid or
settle any Election Contest or Proxy Contest; or 
 (iii) the consummation of: 

(A) a merger, consolidation or reorganization involving the Company, unless such merger, consolidation or reorganization is a “Non-Control Transaction.” A “Non-Control Transaction” shall mean a merger consolidation or reorganization of the

  
 5 

 
Company where (1) the stockholders of the Company, immediately before such merger, consolidation or reorganization, own directly or indirectly immediately following such merger,
consolidation or reorganization, at least fifty-one percent (51%) of the combined voting power of the outstanding voting securities of the corporation resulting from such merger or consolidation or
reorganization (the “Surviving Corporation”) in substantially the same proportion as their ownership of the Voting Securities immediately before such merger, consolidation or reorganization, (2) the individuals who were members
of the Incumbent Board immediately prior to the execution of the agreement providing for such merger, consolidation or reorganization constitute at least two-thirds of the members of the board of directors of
the Surviving Corporation, or a corporation beneficially directly or indirectly owning a majority of the Voting Securities of the Surviving Corporation, and (3) no Person other than (i) the Company, (ii) any Subsidiary,
or (iii) any employee benefit plan (or any trust forming a part thereof) that, immediately prior to such merger, consolidation or reorganization, was maintained by the Company, or any Subsidiary; 

(B) a complete liquidation or dissolution of the Company; or 

(C) the sale or disposition of all or substantially all of the assets of the Company to any Person (other than a transfer to a Subsidiary).

 Notwithstanding the foregoing, a Change in Control shall not be deemed to occur (i) solely because any Person (the “Subject
Person”) acquired Beneficial Ownership of more than the permitted amount of the then outstanding Shares or Voting Securities as a result of the acquisition of Shares or Voting Securities by the Company which, by reducing the number of
Shares or Voting Securities then outstanding, increases the proportional number of shares Beneficially Owned by the Subject Persons, provided that if a Change in Control would occur (but for the operation of this sentence) as a result of the
acquisition of Shares or Voting Securities by the Company, and after such share acquisition by the Company, the Subject Person becomes the Beneficial Owner of any additional Shares or Voting Securities which increases the percentage of the then
outstanding Shares or Voting Securities Beneficially Owned by the Subject Person, then a Change in Control shall occur. 
 Upon a Change in
Control, and without regard to whether or not the Employee’s employment hereunder is terminated in connection therewith, all restrictions on any outstanding equity-based awards (including, without limitation, restricted stock and performance
stock awards) then held by the Employee shall lapse and all performance targets and goals applicable to such awards in respect of any past or future period shall be deemed to have been met by the Company and the Employee, as applicable, for each
period relevant to such award and all such equity-based awards shall become and be deemed to be fully (100%) vested immediately prior to such Change in Control, and all stock options and stock appreciation rights granted to the Employee shall become
fully (100%) vested and shall become immediately exercisable. In the event of any conflict between this subsection and any agreement between the Employee and the Company relating to any outstanding award (whether now existing or hereafter entered
into), the provisions of this subsection shall prevail 

  
 6 

 (g)    Notice of Termination. Any purported termination by the Company
or by the Employee shall be communicated by a written or verbal notice of termination to the other (the “Notice of Termination”). 

(h)    Termination Date, Etc. “Termination Date” shall mean in the case of the Employee’s
death, the Employee’s date of death, or in all other cases, the date specified in the Notice of Termination. 

6.    Compensation Upon Termination. Upon termination of the Employee’s employment during the term of this
Agreement (including any extensions thereof), the Employee shall be entitled to the following benefits: 

(a)    Cause, Death or Disability; Voluntary Termination By
Employee other than Good Reason. If the Employee’s employment is terminated by the Company for Cause or Disability or by the Employee (other than for Good Reason), or by reason of the Employee’s death,
the Company shall pay the Employee (or the Employee’s estate, as applicable) all amounts earned or accrued hereunder through the Termination Date but not paid as of the Termination Date, including (i) Base Salary, (ii) reimbursement
for any and all monies advanced or expenses incurred in connection with the Employee’s employment for reasonable and necessary expenses incurred by the Employee on behalf of the Company for the period ending on the Termination Date,
(iii) unused vacation days as of the termination date, (iv) any bonuses and incentive compensation which at the time of termination is earned but unpaid under the terms and provisions of the applicable plan, and (v) any previously
earned compensation which the Employee has deferred until separation from service (but not any other date) (including any interest earned or credited thereon) (collectively, “Accrued Compensation”). In addition, in connection with
the termination of the Employee’s employment hereunder by the Company for Disability or by reason of the Employee’s death, the Company shall pay the Employee (or the Employee’s estate, as applicable), on the 60th day (except as
otherwise may be required under Section 24(b) of this Agreement if the Employee is a “specified employee” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) following the
date of Disability or death, as the case may be, an amount (which shall be in lieu of any target bonus or other bonus plan amount that might otherwise for any reason be or be deemed to be payable directly or indirectly in connection with the fiscal
year in which such termination occurred, an amount equal to the product of (I) the average of the cash bonus amounts (if any) paid by the Company to the Employee in relation to the two fiscal years immediately preceding the year in which such
termination occurs, multiplied by (II) a fraction, the numerator is the number of days in the year that were elapsed as of the date of the termination of employment and the denominator is 365; provided that if such thirty (30) day period
begins in one calendar year and ends in another, the Employee and/or the Employee’s beneficiary shall not have the right to designate the taxable year of payment. In connection with the termination of the Employee’s employment hereunder by
the Company for Disability or by reason of the Employee’s death, all restrictions on any outstanding equity-based awards (including, without limitation, restricted stock and performance stock awards) then held by the Employee shall lapse and
all performance targets and goals applicable to such awards in respect of any past or future period shall be deemed to have been met by the Company and the Employee, as applicable, for each period relevant to such award and all such equity-based
awards shall become and be deemed to be fully 

  
 7 

 
(100%) vested immediately prior to such termination of employment, and all stock options and stock appreciation rights granted to the Employee shall become fully (100%) vested and shall become
immediately exercisable and the Company shall permit the Employee (or the Employee’s estate), to exercise the same at any time during the 90-day period following such termination. In the event of the
Employee’s death, for a period of twelve (12) months from the date of death, the Company shall pay for COBRA benefits (or the equivalent) for Employee’s surviving spouse and eligible dependents covered by the Company’s group
health plan at the time of Employee’s death. In the event the Employee’s employment hereunder is terminated due to Disability, the Company shall pay COBRA benefits (or the equivalent) for the Employee and Employee’s spouse and
eligible dependents covered by the Company’s group health plan at the time of Employee’s disability for a period of twelve (12) months from the date of such termination. The Employee’s entitlement to any other compensation or
benefits shall be determined in accordance with the Company’s employee benefit plans and other applicable programs and practices then in effect. 

(b)    Without Cause; For Good Reason. If the Employee’s employment by the Company
is terminated by the Company prior to a Change in Control other than for Cause, death or Disability, or by the Employee for Good Reason, then the Employee shall be entitled to the benefits provided below (the “Without Cause
Benefits”): 
 (i) the Company shall pay the Employee all Accrued Compensation; 

(ii) the Company shall pay the Employee, as severance pay and in lieu of any further salary for periods subsequent to the Termination Date,
in a single payment an amount in cash equal to one (1) times the sum of (A) the Employee’s Base Salary at the highest rate in effect at any time within the ninety (90) day period ending on the date the Notice of Termination is
given and (B) the “Payment Amount.” For purposes of this Agreement, the term “Payment Amount” shall mean an amount which is equal to 75% of the Employee’s Base Salary in effect during the year in which the
Termination Date shall occur; 
 (iii) except as may otherwise be determined in accordance with Revenue Ruling 2008-13 (on a basis consistent in all material respects among all executive officers whose compensation, or the deductibility thereof by the Company, is affected by Section 162(m) of the Code or any successor
provision thereto) by the Compensation Committee at the time of grant of such equity-based award (the “Accelerated Equity Benefit”): 

(A)    All service-based restrictions on outstanding equity-based awards (including, without limitation, restricted stock
and performance stock awards) then held by the Employee shall lapse; 
 (B)    All performance targets and goals
applicable to such equity-based awards in respect of any past or future period must continue to be satisfied for each period relevant to such award; 

  
 8 

 (C)    Any equity-based award shall be paid at the time and in the form
specified in the Mobile Mini, Inc. 2006 Equity Incentive Plan or the relevant plan under which such award is outstanding; and 

(D)    All stock options (including performance-based stock options) and stock appreciation rights granted to the
Employee shall become fully (100%) vested and shall become immediately exercisable and the Company shall permit the Employee (or the Employee’s estate), to exercise the same at any time during the 90-day
period following such termination; and 
 (iv) for a period of twelve (12) months following such termination, the Company shall at its
expense continue on behalf of the Employee and the Employee’s dependents and beneficiaries the medical and dental benefits which were being provided to the Employee and other members of senior management of the Company at the time Notice of
Termination was given. Post-termination medical and dental coverage will run concurrently with the COBRA coverage period. The benefits provided in this Section 6(b)(iv) shall be no less favorable to the Employee, in terms of amounts and
deductibles and costs to her, than the coverage provided the Employee under the plans providing such benefits at the time Notice of Termination is given. The Company’s obligation hereunder with respect to the foregoing benefits shall be limited
to the extent that the Employee obtains any such benefits pursuant to a subsequent employer’s benefit plans, in which case the Company may reduce the coverage of any benefits it is required to provide the Employee hereunder as long as the
aggregate coverage of the combined benefit plans is no less favorable to the Employee, in terms of amounts and deductibles and costs to her, than the coverage required to be provided hereunder. This Subsection (iv) shall not be interpreted so
as to limit any benefits to which the Employee or the Employee’s dependents may be entitled under any of the Company’s employee benefit plans, programs or practices following the Employee’s termination of employment, including,
without limitation, retiree medical insurance benefits. 
 (c)    Following a Change in
Control. If within one year following the occurrence of a Change of Control the Employee’s employment by the Company is terminated either by the Company other than for Cause, death or Disability, or by the Employee for Good Reason, then
the Employee shall be entitled to the benefits provided below (the “CiC Benefits” and together with Without Cause Benefits, the “Severance Benefits”): 

(i) the Company shall pay the Employee all Accrued Compensation; 

(ii) the Company shall pay the Employee as severance pay and in lieu of any further salary for periods subsequent to the Termination Date, in
a single payment an amount in cash equal to two (2) times the sum of (A) the Employee’s Base Salary at the highest rate in effect at any time within the ninety (90) day period ending on the date the Notice of Termination is given
or the Employee’s Base Salary immediately prior to the Change in Control, if greater, and (B) the Payment Amount; and 
 (iii)
for a period of twenty-four (24) months following such termination, the Company shall at its expense continue on behalf of the Employee and the Employee’s 

  
 9 

 
dependents and beneficiaries the medical and dental benefits which were being provided to the Employee at the time Notice of Termination is given (or, if the Employee is terminated following a
Change in Control, the benefits provided to the Employee at the time of the Change in Control, if greater). Post-termination medical and dental coverage will run concurrently with the COBRA coverage period. The benefits provided in this subsection
6(c)(iii) shall be no less favorable to the Employee, in terms of amounts and deductibles and costs to her, than the coverage provided the Employee under the plans providing such benefits at the time Notice of Termination is given or at the time of
the Change in Control if more favorable to the Employee. The Company’s obligation hereunder with respect to the foregoing benefits shall be limited to the extent that the Employee obtains any such benefits pursuant to a subsequent
employer’s benefit plans, in which case the Company may reduce the coverage of any benefits it is required to provide the Employee hereunder as long as the aggregate coverage of the combined benefit plans is no less favorable to the Employee,
in terms of amounts and deductibles and costs to her, than the coverage required to be provided hereunder. This subsection 6(c)(iii) shall not be interpreted so as to limit any benefits to which the Employee or the Employee’s dependents may be
entitled under any of the Company’s employee benefit plans, programs or practices following the Employee’s termination of employment, including, without limitation, retiree medical insurance benefits. 

(d)    Time of Payment; Adjustment for Taxes. The amounts provided for in
Sections 6(a), 6(b)(ii), and 6(c)(ii) shall be paid on the 60th day after the Employee’s Termination Date (except as otherwise may be required under Section 24(b) of this Agreement if the Employee is a “specified employee” within
the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”)). In the event the Employee’s severance and other benefits provided for in this Section 6 constitute “parachute
payments” within the meaning of Section 280G of the Code and, but for this subsection, would be subject to the excise tax imposed by Section 4999 of the Code, then the Employee’s severance and other benefits under this
Section 6 will be payable either in full or in such lesser amount as would result, after taking into account the applicable federal, state and local income taxes and the excise tax imposed by Section 4999, in the Employee’s receipt on
an after-tax basis of the greatest amount of severance and other benefits. All determinations to be made pursuant to this Section 6(d), including without limitation whether partial payment or payment in
full will provide the greatest after-tax benefit to the Employee and the amount of any such partial payment to be made, shall be made by an independent public accounting firm selected by the Company and
reasonably acceptable to the Employee and such determinations shall be binding on the Company and the Employee. If the payments and benefits under Section 6 are required to be reduced, the cash severance shall be reduced first, followed by a
reduction in the accelerated vesting of any equity awards, and last by the reduction of any other benefits. 
 (e)
    No Duty to Mitigate. The Employee shall not be required to mitigate the amount of any payment, benefit or other Company obligation provided for in this Agreement by seeking other employment or
otherwise and no such payment, benefit or other Company obligation shall be offset or reduced by the amount of any compensation or benefits provided to the Employee in any subsequent employment. 

  
 10 

 (f)    Clawback. The Company shall have no obligation to make any
payment to the Employee pursuant to any provision of this Section 6 if the Employee shall be in default of the Employee’s obligations under Section 13 hereof (Covenant Not To Compete). 

7.    Post-Termination Assistance; Non-Disparagement. The Employee agrees
that after the Employee’s employment with the Company has terminated the Employee will provide to the Company, upon reasonable notice from the Company, such information and assistance in the nature of testifying and the preparation therefore as
may reasonably be requested by the Company in connection with any litigation, administrative or agency proceeding, or other legal proceeding in which it or any of its affiliates is or may become a party; provided, however, that the Company agrees to
reimburse the Employee for any reasonably, related expenses, including travel expense, and shall pay the Employee a daily per diem comparable to the Employee’s Base Salary under this Agreement at time of termination (determined for this purpose
on a per diem basis by dividing such Base Salary by 230). The Company’s officers and Directors will not disparage or make false or defamatory comments about the Employee and the Employee agrees not to disparage or make false or defamatory
comments about the Company. 
 8.    Unauthorized Disclosure. The Employee shall not make any Unauthorized
Disclosure. For purposes of this Agreement, “Unauthorized Disclosure” shall mean disclosure by the Employee without the consent of the Board to any person, other than an employee of the Company or a person to whom disclosure is
reasonably necessary or appropriate in connection with the performance by the Employee of the Employee’s duties as an executive of the Company or as may be legally required, of any confidential information obtained by the Employee while in the
employ of the Company (including, but not limited to, any confidential information with respect to any of the Company’s customers or methods of distribution) the disclosure of which the Employee knows or has reason to believe will be materially
injurious to the Company; provided, however, that such term shall not include the use or disclosure by the Employee, without consent, of any information known generally to the public (other than as a result of disclosure by the Employee in violation
of this Section 8) or any information not otherwise considered confidential by a reasonable person engaged in the same business as that conducted by the Company. 

9.    Indemnification. The Company remains subject to its standard form of indemnification agreement for officers
and directors which was entered into with the Employee to indemnify the Employee against certain liabilities the Employee may incur as an officer or director of the Company. A copy of that standard form as in effect on the date of this Agreement is
identified on Exhibit A to this Agreement, and if for any reason the Company and the Employee have not heretofore executed and delivered such an indemnification agreement, the terms and provisions of the Company’s standard
indemnification agreement are hereby incorporated herein by reference. 
 10.    Successors and Assigns. 

(a)    This Agreement shall be binding upon and shall inure to the benefit of the Company and its successors and the
Company shall require any successor to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the 

  
 11 

 
Company would be required to perform it if no such succession or assignment had taken place, but this Agreement will not otherwise be assignable, transferable or delegable by the Company. The
term “the Company” as used herein shall include such successors. 
 (b)    Neither this Agreement nor any
right or interest hereunder shall be assignable or transferable by the Employee, the Employee’s beneficiaries or legal representatives, except by will or by the laws of descent and distribution. This Agreement shall inure to the benefit of and
be enforceable by the Employee’s legal personal representatives, beneficiaries, designees, executors, administrators, heirs, distributees, devisees and legatees. 

11.    Fees and Expenses. The Company shall pay all reasonable legal fees and related expenses incurred by the
Employee as they become due as a result of the Company and the Employee entering into this Agreement. 

12.    Assignment of Inventions. 

(a)    General Assignment. The Employee agrees to assign and hereby does assign to the Company all right, title and
interest in and to any inventions, designs and copyrights made during employment by Company which relate directly to the business of the Company. 

(b)    Further Assurances. The Employee shall acknowledge and deliver promptly to the Company without charge to the
Company but at its expense such written instruments and do such other acts, as may be necessary in the opinion of the Company to obtain, maintain, extend, reissue and enforce United States and/or foreign letters patent and copyrights relating to the
inventions, designs an copyrights and to vest the entire right and title thereto in the Company or its nominee. The Employee acknowledges and agrees that any copyright developed or conceived of by the Employee during the term of the Employee’s
employment which is related to the business of the Company shall be a “work for hire” under the copyright law of the United States and other applicable jurisdictions. 

(c)    Excepted Inventions. As a matter of record the Employee has identified on Exhibit B attached hereto all
inventions or improvements relevant to the subject matter of the Employee’s engagement by the Company which have been made or conceived or first reduced to practice by the Employee alone or jointly with others prior to the Employee’s
engagement by the Company, and the Employee covenants that such list is complete. If there is no such list on Exhibit B, the Employee represents that the Employee has made no such inventions and improvements as of the time of signing this Agreement.

 13.    Covenant Not to Compete. 

(a)    The Employee agrees that during the term of this Agreement and for two (2) years subsequent to termination of
Employee’s employment with the Company for any reason (the “Non-Compete Term”) the Employee shall not: 

(i) Either directly or indirectly, for herself or on behalf of or in conjunction with any other person, persons, company, firm, partnership,
corporation, business, 

  
 12 

 
group or other entity (each, a “Person”), engage in any business or activity, whether as an employee, consultant, partner, principal, agent, representative, stockholder or other
individual, corporate, or representative capacity, or render any services or provide any advice or substantial assistance to any business, person or entity, if such business, person or entity, directly or indirectly will in any way compete with the
Company (a “Competing Business”). Notwithstanding the foregoing, the Employee may make passive investments in up to four percent (4%) of the outstanding publicly traded common stock of an entity which operates a Competing Business.

 (ii)    Either directly or indirectly, for herself or on behalf of or in conjunction with any other Person, solicit
any Person who is, or who is, at the time of termination of the Employee’s employment, or has been within six (6) months prior to the time of termination of Employee’s employment, an employee of the Company or any of its subsidiaries
for the purpose or with the intent of enticing such employee away from the employ of the Company or any of its subsidiaries. 

(iii)    Either directly or indirectly, for herself or on behalf of or in conjunction with any other Person, solicit any
Person who is, or who is, at the time of termination of the Employee’s employment, or has been within six (6) months prior to the time of termination of Employee’s employment, a customer or supplier of the Company or any of its
subsidiaries for the purpose or with the intent of (A) inducing or attempting to induce such Person to cease doing business with the Company or (B) in any way interfering with the relationship between such Person and the Company. 

(b)    Specific Performance; Repayment of Certain Termination Payment Amounts. The Employee hereby acknowledges
that the services to be rendered to the Company hereunder by the Employee are of a unique, special and extraordinary character which would be difficult or impossible for the Company to replace or protect, and by reason thereof, the Employee hereby
agrees that in the event the Employee violates any of the provisions of subsection 13(a) hereof, the Company shall, in addition to any other rights and remedies available to it, at law or otherwise, be entitled to an injunction or restraining order
to be issued by any court of competent jurisdiction in any state enjoining and restraining the Employee from committing any violation of said subsection 13(a). 

The Employee agrees that, if the Employee breaches subsection 13(a) of this Agreement, the Employee shall have forfeited all right to receive
any amounts payable to the Employee pursuant to subsection 6(b)(ii) and (iii) or subsection 6(c)(ii) and (iii), as the case may be, and the Employee shall promptly repay to the Company the entire amount theretofore paid to the Employee by
reason of any of said subsections. 
 (c)    The covenants in this Section 13 are severable and separate, and the
unenforceability of any specific covenant shall not affect the provisions of any other covenant. Moreover, in the event any court of competent jurisdiction shall determine that the scope, time or territorial restrictions set forth herein are
unreasonable, then it is the intention of the parties that such restrictions be enforced to the fullest extent that such court deems reasonable, and the Agreement shall thereby be reformed to reflect the same. 

  
 13 

 (d)    All of the covenants in this Section 13 shall be construed as an
agreement independent of any other provision in this Agreement, and the existence of any claim or cause of action of the Employee against the Company whether predicated on this Agreement or otherwise shall not constitute a defense to the enforcement
by the Company of such covenants. It is specifically agreed that the period following the termination of the Employee’s employment with the Company during which the agreements and covenants of the Employee made in this Section 13 shall be
effective, shall be computed by excluding from such computation any time during which the Employee is in violation of any provision of this Section 13. 

(e)    Notwithstanding any of the foregoing, if any applicable law, judicial ruling or order shall reduce the time period
during which the Employee shall be prohibited from engaging in any competitive activity described in Section 13 hereof, the period of time for which the Employee shall be prohibited pursuant to Section 13 hereof shall be the maximum time
permitted by law. 
 14.    Notice. For the purposes of this Agreement, notices and all other communications
provided for in the Agreement (other than a Notice of Termination) shall be in writing and shall be deemed to have been duly given when personally delivered or sent by certified mail, return receipt requested, postage prepaid, addressed to the
respective addresses last given by each party to the other, provided that all notices to the Company shall be directed to the attention of the Chief Executive Officer with a copy to the General Counsel. All notices and communications shall be deemed
to have been received on the date of delivery thereof or on the third business day after the mailing thereof, except that notice of change of address shall be effective only upon receipt. 

15.    Non-exclusivity of Rights. Nothing in this Agreement shall prevent
or limit the Employee’s continuing or future participation in any benefit, bonus, incentive or other plan or program provided by the Company or any of its subsidiaries and for which the Employee may qualify, nor shall anything herein limit or
reduce such rights as the Employee may have under any other agreements with the Company or any of its subsidiaries. Amounts which are vested benefits or which the Employee is otherwise entitled to receive under any plan or program of the Company or
any of its subsidiaries shall be payable in accordance with such plan or program, except as explicitly modified by this Agreement. 

16.    Settlement of Claims. The Company’s obligation to make the payments provided for in this Agreement and
otherwise to perform its obligations hereunder shall not be affected by any circumstances, including, without limitation, any set-off, counterclaim, recoupment, defense or other right which the Company may
have against the Employee or others. 
 17.    Survival. The agreements and obligations of the Company and the
Employee made in Sections 6, 8, 9, 11, 13, 17 and 18 of this Agreement shall survive the expiration or termination of this Agreement. 

18.    Federal Income Tax Withholding. The Company may withhold from any compensation and other amounts payable
under this Agreement all federal, state, city or other taxes as shall be required pursuant to any law or governmental regulation or ruling. 

  
 14 

 19.    Governing Law. This Agreement shall be governed by and
construed and enforced in accordance with the laws of the State of Delaware, without giving effect to the conflict of law principles thereof. 

20.    Severability. The provisions of this Agreement shall be deemed severable and the invalidity or
unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof. 

21.    Miscellaneous. No provisions of this Agreement may be modified, waived or discharged unless such waiver,
modification or discharge is agreed to in writing and signed by the Employee and the Company. No waiver by either party hereto at any time of any breach by the other party hereto or compliance with any condition or provision of this Agreement to be
performed by such other party will be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. Unless otherwise noted, references to “Sections” are to sections of this Agreement. The
captions used in this Agreement are designed for convenient reference only and are not to be used for the purpose of interpreting any provision of this Agreement. 

22.    Entire Agreement. This Agreement (together with the Exhibits hereto and the Employee’s indemnification
agreement with the Company) constitutes the entire agreement between the Parties and supersedes all prior agreements, understandings and arrangements, oral or written, between the parties hereto with respect to the subject matter hereof. 

23.    Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to
be an original and all of which together will constitute one and the same agreement. 
 24.    Section 409A. 

(a)    To the extent applicable, it is intended that this Agreement comply with the provisions of Section 409A of the
Code. This Agreement will be administered and interpreted in a manner consistent with this intent. The Company agrees to take all reasonable steps to ensure that Employee shall not be subject to any penalties with respect to any payments received
hereunder. In the event that any guidance is issued by the Internal Revenue Service, or if a judicial decision is rendered, to the effect that arrangements similar to this Agreement do not satisfy the requirements of Section 409A, the Company
and Employee agree to take whatever reasonable actions may be necessary at such time in order to ensure that (i) the payments under this Agreement shall be in compliance with Section 409A and (ii) the Employee shall not be subject to
any penalty under Section 409A with respect to the Employee’s receipt of such payments. 

(b)    Notwithstanding anything contained herein to the contrary, any payments on account of a termination of employment
that are subject to Section 409A shall not be made until Employee would be considered to have incurred a “separation from service” from the Company within the meaning of Section 409A. To the extent required in order to avoid
accelerated taxation and/or tax penalties under Section 409A, amounts that would otherwise be 

  
 15 

 
payable and benefits that would otherwise be provided pursuant to this Agreement during the six-month period immediately following Employee’s
separation from service shall, if Employee is a “specified employee” within the meaning of Section 409A at the time of the Employee’s separation from service, instead be paid on the first business day after the date that is six
months following Employee’s separation from service (or Employee’s death, if earlier). 
 (c)    For purposes
of this Agreement, each amount to be paid or benefit to be provided to Employee pursuant to this Agreement shall be construed as a separate identified payment for purposes of Section 409A. 

(d)    With respect to expenses eligible for reimbursement under the terms of the Agreement, (i) the amount of such
expenses eligible for reimbursement in any taxable year shall not affect the expenses eligible for reimbursement in another taxable year (ii) any reimbursements of such expenses shall be made no later than the end of the calendar year following
the calendar year in which the related expenses were incurred, except, in each case, to the extent that the right to reimbursement does not provide for a “deferral of compensation” within the meaning of Section 409A; provided, however
that with respect to any reimbursements for any taxes to which Employee becomes entitled under the terms of this Agreement, the payment of such reimbursements shall be made by the Company no later than the end of the calendar year following the
calendar year in which Employee remits the related taxes; and (iii) the right to reimbursement is not subject to liquidation or exchange for any other benefit. 

(d)    Nothing in this Agreement shall be construed as a guarantee of any particular tax treatment to the
Employee. The Employee shall be solely responsible for the tax consequences with respect to all amounts payable under this Agreement, and in no event shall the Company have any responsibility or liability if this Agreement does not meet any
applicable requirements of Section 409A. 
 25.    Release and Forfeiture of Severance Benefits. The right
of Employee to receive or to retain Severance Benefits shall be in consideration for, and subject to, (1) execution of and delivery to the Company of a release of claims substantially in the form attached as Exhibit C to this Agreement,
amended as necessary to comply with applicable law (the “Release”) and lapse of the period for revocation, if any, of the Release without the Release having been revoked no later than 60 days after the Termination Date, and
(2) Employee’s continued compliance with the covenants hereof. In the event that Employee breaches any of the Covenants, Company shall have the right to (a) terminate any further provision of Severance Benefits not yet paid or
provided, (b) seek reimbursement from Employee for any and all such Severance Benefits previously paid or provided to Employee, (c) recover from Employee all shares of stock of Company the vesting of which, or the option to purchase, was
accelerated by reason of the Severance Benefits (or the proceeds therefrom, reduced by any exercise or purchase price paid to acquire such shares), and (d) to immediately cancel all equity awards the vesting of which was accelerated by reason
of the Severance Benefits. No Severance Benefits shall be paid until the 60th day following the Termination Date, subject to Section 24(b) hereof. 

[Signature Page follows; remainder of this page is blank.] 

  
 16 

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

                    Company: 

 

			
	MOBILE MINI, INC.
		
	By:	 	       /s/ Erik Olsson

		 	Erik Olsson, President and Chief Executive Officer

                    Employee: 

 

	
	             /s/ Mark Krivoruchka

	            Mark Krivoruchka

  
 17 

 EXHIBIT A 

[Form of Indemnification Agreement] 
 The
form of the Company’s indemnification agreement has been filed with the Securities and Exchange Commission as an Exhibit to the Company’s most recent annual report on Form 10-K, and that document is
incorporated by this reference. 

  
 18 

 EXHIBIT B 

List of Inventions and Improvements 

  
 19 

 EXHIBIT C 

[Form of Release] 

CONFIDENTIAL SEPARATION AND RELEASE AGREEMENT 

This Confidential Separation and Release Agreement (“Agreement”) is between Mark Krivoruchka
(“Employee”) and Mobile Mini, Inc. (the “Company”) (hereinafter the “parties”), and is entered into as of
                    . This Agreement will not become effective until the expiration of seven (7) days from Employee’s execution of this
Agreement (the “Effective Date”). 
 WHEREAS, Employee has been employed by Company as an
Employee and is a party to that certain Employee Employment Agreement dated             , 2017 as amended by and between Company and Employee as then in effect immediately prior to the
Effective Date (the “Employment Agreement”). 
 WHEREAS, the Employee’s employment
with Company was terminated effective as of             , 20     (the “Termination Date”); 

WHEREAS, Company and Employee desire to avoid disputes and/or litigation regarding Employee’s termination from employment or any events
or circumstances preceding or coincident with the termination from employment; and 
 WHEREAS, Company and Employee have agreed upon the
terms on which Employee is willing, for sufficient and lawful consideration, to compromise any claims known and unknown which Employee may have against Company. 

WHEREAS, the parties desire to settle fully and finally, in the manner set forth herein, all differences between them which have arisen, or
which may arise, prior to, or at the time of, the execution of this Agreement, including, but in no way limited to, any and all claims and controversies arising out of the employment relationship between Employee and Company, and the termination
thereof; 
 NOW, THEREFORE, in consideration of these recitals and the promises and agreements set forth in this Agreement, Employee’s
employment with Company will terminate upon the following terms: 
 1.    General Release: Employee for herself
or herself and on behalf of Employee’s attorneys, heirs, assigns, successors, executors, and administrators IRREVOCABLY AND UNCONDITIONALLY RELEASES, ACQUITS AND FOREVER DISCHARGES Company and any current or former stockholders, directors,
parent, subsidiary, affiliated, and related corporations, firms, associations, partnerships, and entities, and their successors and assigns, from any and all claims and causes of action whatsoever, whether known or unknown or whether connected with
Employee’s employment by Company or not, which may have arisen, or which 

  
 20 

 
may arise, prior to, or at the time of, the execution of this Agreement, including, but not limited to, any claim or cause of action arising out of any contract, express or implied, any covenant
of good faith and fair dealing, express or implied, any tort (whether intentional or released in this agreement), or under Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Americans with Disabilities Act, the
Worker Adjustment and Retraining Notification (WARN) Act, the Older Workers Benefit Protection Act, or any other municipal, local, state, or federal law, common or statutory, but excluding any claims with respect to the Company’s obligations
under the Employment Agreement, any claims relating to vested benefits under any Company employee benefit plan (including without limitation any such plan subject to the Employee Retirement Income Security Act of 1974, as amended) and any claims
which Employee cannot release as a matter of applicable law. Furthermore, neither this Agreement nor the Employment Agreement shall apply to, modify or in any way supersede obligations arising from any of (i) the terms of directors and officers
insurance or (ii) any indemnification agreement for the benefit of the Employee as a result of the Employee’s position as a director or officer of the Company or one of its affiliates. 

2.    Covenant Not to Sue: Employee also COVENANTS NOT TO SUE, OR OTHERWISE PARTICIPATE IN ANY ACTION OR CLASS
ACTION against Company or any of the released parties based upon any of the claims released in this Agreement. 

3.    Severance Terms: Upon the expiration of seven (7) days from Employee’s execution of this Agreement
and provided that this Agreement has become effective in accordance with its terms, in consideration for the promises, covenants, agreements, and releases set forth herein and in the Employment Agreement, Company agrees to pay Employee the Severance
Benefits as defined in and pursuant to the Employment Agreement (the “Severance Benefits”). 

4.    Right to Revoke: Employee may revoke this Agreement by notice to Company, in writing, received within seven
(7) days of the date of its execution by Employee (the “Revocation Period”). Employee agrees that Employee will not receive the benefits provided by this Agreement if Employee revokes this Agreement.
Employee also acknowledges and agrees that if Company has not received from Employee notice of Employee’s revocation of this Agreement prior to the expiration of the Revocation Period, Employee will have forever waived Employee’s right to
revoke this Agreement, and this Agreement shall thereafter be enforceable and have full force and effect. 
 5.
    Acknowledgement: Employee acknowledges and agrees that: (A) except as to any Severance Benefits which remain unpaid as of the date of this Agreement, no additional consideration, including salary, wages, bonuses
or Equity Awards as described in the Employment Agreement, is to be paid to his by Company in connection with this Agreement; (B) except as provided by this Agreement, Employee has no contractual right or claim to the Severance Benefits; and,
(C) payments pursuant to this Agreement shall terminate immediately if Employee breaches any of the provisions of this Agreement. 

  
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 6.    Non-Admissions: Employee
acknowledges that by entering into this Agreement, Company does not admit, and does specifically deny, any violation of any local, state, or federal law. 

7.    Confidentiality: Employee agrees that Employee shall not directly or indirectly disclose the terms, amount or
fact of this Agreement to anyone other than Employee’s immediate family or counsel, bankers or financial advisors, except as such disclosure may be required for accounting or tax reporting purposes or as otherwise may be required by law. 

8.    Nondisparagement: Each party agrees that it will not make any statements, written or verbal, or cause or
encourage others to make any statements, written or verbal, that defame, disparage or in any way criticize the personal or business reputation, practices or conduct of the other including, in the case of Company, its employees, directors and
stockholders. 
 9.    Acknowledgement of Restrictions; Confidential Information: Employee acknowledges and
agrees that Employee has continuing non-competition, non-solicitation and non-disclosure obligations under the Employment
Agreement and the Employee Innovations and Proprietary Rights Assignment Agreement between Employee and Company (the “Proprietary Rights Agreement”). Employee acknowledges and reaffirms
Employee’s obligation to continue abide fully and completely with all post-employment provisions of the Employment Agreement and the Proprietary Rights Agreement and agrees that nothing in this Agreement shall operate to excuse or otherwise
relieve Employee of such obligations. 
 11.    Severability: If any provision of this Agreement is held to be
illegal, invalid, or unenforceable, such provision shall be fully severable and/or construed in remaining part to the full extent allowed by law, with the remaining provisions of this Agreement continuing in full force and effect. 

12.    Entire Agreement: This Agreement, along with the Employment Agreement and the Proprietary Rights Agreement
which are referred to above, constitute the entire agreement between the Employee and Company, and supersede all prior and contemporaneous negotiations and agreements, oral or written. This Agreement cannot be changed or terminated except pursuant
to a written agreement executed by the parties. 
 13.    Governing Law: This Agreement shall be governed by and
construed in accordance with the laws of the State of Arizona, except where preempted by federal law. 

14.    Statement of Understanding: By executing this Agreement, Employee acknowledges that (a) Employee has
had at least twenty-one (21) or forty-five (45) days, as applicable in accordance with the Age Discrimination in Employment Act, as amended, (the “ADEA”) to consider the terms
of this Agreement [and any attachment necessary or desirable in accordance with the ADEA) and has considered its terms for such a period of time or has knowingly and
voluntarily waived Employee’s right to do so by executing this Agreement and returning it to Company; (b) Employee has been advised by Company to consult with an attorney regarding the terms of this Agreement; (c) Employee has
consulted with, or has had sufficient opportunity to consult with, an attorney of Employee’s own choosing regarding the terms of this 

  
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Agreement; (d) any and all questions regarding the terms of this Agreement have been asked and answered to Employee’s complete satisfaction; (e) Employee has read this Agreement
and fully understands its terms and their import; (f) except as provided by this Agreement, Employee has no contractual right or claim to the benefits and payments described herein; (g) the consideration provided for herein is good and
valuable; and (h) Employee is entering into this Agreement voluntarily, of Employee’s own free will, and without any coercion, undue influence, threat, or intimidation of any kind or type whatsoever. 

HAVING READ AND UNDERSTOOD THIS AGREEMENT, CONSULTED COUNSEL OR VOLUNTARILY ELECTED NOT TO CONSULT COUNSEL, AND HAVING HAD SUFFICIENT TIME TO CONSIDER WHETHER
TO ENTER INTO THIS AGREEMENT, THE UNDERSIGNED HEREBY EXECUTE THIS AGREEMENT ON THE DATES SET FORTH BELOW. 
  

									
	EMPLOYEE	 		 	MOBILE MINI, INC.
				
	  
	 	        	 	By:	 	                                      
                                         
                              
	Mark Krivoruchka	 		 	Name:	 	                                      
                                         
                              
	Date:	 	                                      
                                         
                              	 		 	Title:	 	                                      
                                         
                              
		 		 		 	Date:	 	                                      
                                         
                              

  
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