Document:

EX-10.7

 Exhibit 10.7 

VOTING AGREEMENT 
 This
VOTING AGREEMENT, dated as of [            ], 2014 (this “Agreement”), is by and between SHELL MIDSTREAM PARTNERS, L.P., a Delaware limited partnership (the
“Partnership”), and SHELL PIPELINE COMPANY LP, a Delaware limited partnership (“SPLC”) (each, a “Party” and collectively, the “Parties”). 

RECITALS 

WHEREAS, the Parties have entered into that certain Contribution Agreement, dated as of the date hereof, pursuant to which SPLC has
agreed to contribute to the Partnership a certain ownership interest in Bengal (as defined below); and 
 WHEREAS, the Parties desire
to set forth their understanding with respect to certain matters related to the governance of Bengal and the transfer by SPLC of the SPLC Ownership Interest (as defined below); 

NOW, THEREFORE, in consideration of the mutual covenants, representations, warranties and agreements herein contained, the
parties hereto agree as follows: 
 ARTICLE I 

DEFINITIONS 
 Capitalized
terms used but not otherwise defined herein shall have the respective meanings ascribed to such terms below: 
 “Bengal”
means Bengal Pipeline Company LLC, a Delaware limited liability company. 
 “Bengal Board of Managers” means the board of
managers of Bengal, as described in the limited liability company agreement of Bengal, as amended from time to time. 
 “Closing
Date” has the meaning set forth in the Partnership Agreement. 
 “Effective Time” means immediately prior to the
closing of the Initial Public Offering. 
 “General Partner” means Shell Midstream Partners GP LLC, a Delaware limited
liability company and the general partner of the Partnership. 
 “Initial Public Offering” has the meaning set forth in the
Partnership Agreement. 
 “Investment Company Act” means the Investment Company Act of 1940, as amended, and the rules and
regulations of the U.S. Securities and Exchange Commission promulgated thereunder. 
 “Partnership Agreement” means the
First Amended and Restated Agreement of Limited Partnership of the Partnership, dated as of the Closing Date, as the same may be hereafter amended and/or restated. 

 “Person” means an individual or a corporation, firm, limited liability company,
partnership, joint venture, trust, unincorporated organization, association, government agency or political subdivision thereof or other entity. 

“SPLC Ownership Interest” means the ownership interests in Bengal retained or owned by SPLC following the Closing Date,
including such additional ownership interests as are acquired by SPLC after the Closing Date as described in Section 2.3. 
 ARTICLE II

 VOTING MATTERS 

2.1 Voting. During the term of this Agreement, at every meeting of the holders of ownership interests in Bengal that is called
for any reason, and at every adjournment or postponement thereof, and on every action or approval by written consent of holders of ownership interests in Bengal with respect to any matter, SPLC shall vote the SPLC Ownership Interest in Bengal (or,
if applicable, act by written consent) as directed by the Partnership. 
 2.2 Irrevocable Proxy. During the term of this
Agreement, SPLC hereby appoints the Partnership and any designee of the Partnership, and each of them individually, as SPLC’s proxies, with full power of substitution and resubstitution, to vote or, if applicable, act by written consent with
respect to the SPLC Ownership Interest in accordance with Section 2.1. This proxy is given to secure the performance of the duties of SPLC under this Agreement. SPLC shall take such further action or execute such other instruments as may be
necessary to effectuate the intent of this proxy. This proxy granted by SPLC shall be irrevocable during the term of this Agreement, shall be deemed to be coupled with an interest sufficient in law to support an irrevocable proxy and shall revoke
any and all prior proxies granted by SPLC with respect to the SPLC Ownership Interest. The proxy granted by SPLC hereunder shall terminate automatically upon the termination of this Agreement with respect to SPLC without any action on the part of
any Party. 
 2.3 Adjustments upon Acquisitions, Changes in Capitalization, Etc. In the event of (a) any change in the
SPLC Ownership Interest by reason of a dividend, subdivision, reclassification, recapitalization, split, combination, merger, exchange of ownership interests or other similar event or transaction or any other change in the structure of Bengal
(including the declaration or payment of an extraordinary dividend of cash, securities or other property) or (b) any other acquisition by SPLC of any ownership interests in Bengal, in either case, this Agreement and the obligations hereunder
shall attach to any additional ownership interests of Bengal issued to or acquired by SPLC. 
 2.4 Designees. SPLC and the
Partnership agree, to the fullest extent permitted by applicable law, to designate a single representative to the Bengal Board of Managers on behalf of both SPLC and the Partnership. Such representative shall have the power to vote in any actions of
the Bengal Board of Managers (including with respect to the establishment of cash reserves of Bengal) based on the aggregate ownership interests of both SPLC and the Partnership. 

2.5 Restrictions on Other Agreements. SPLC shall not, and SPLC shall cause its affiliates not to, directly or indirectly, grant
any proxy or enter into or agree to be bound by any voting trust, agreement or arrangement of any kind with respect to the matters governed hereby 

  
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other than this Agreement or any other agreements entered into with the Partnership or its successors and assigns (whether or not such proxy, voting trust, agreement or arrangements are with
other holders of ownership interests of Bengal that are not parties to this Agreement or otherwise). 
 ARTICLE III 

TRANSFER RESTRICTIONS 
 3.1
Transfer Restrictions. SPLC shall not sell, transfer, assign, pledge or otherwise dispose of or encumber (whether with or without consideration and whether voluntarily or involuntarily or by operation of law or otherwise) any interest
in any SPLC Ownership Interest in Bengal, whether now owned or hereafter acquired unless, prior to such transaction, (a) the General Partner determines, in its sole discretion, that, after giving effect to such sale, transfer, assignment,
pledge, disposition or encumbrance, the Partnership would (i) have sufficient voting power over Bengal such that any cash reserves by Bengal that would reduce the amount of cash distributed by Bengal would require the Partnership’s
approval and (ii) be deemed to control Bengal for purposes of the Investment Company Act or (b) the transferee agrees in writing to be bound by the terms of this Agreement to the same extent as SPLC with respect to such transferred SPLC
Ownership Interest. 
 ARTICLE IV 

EFFECTIVENESS 
 4.1
Effectiveness. Notwithstanding anything contained in this Agreement to the contrary, none of the provisions of this Agreement shall be operative or have any effect until the Effective Time, at which time all such applicable provisions
shall be effective and operative in without further action by any Party. 
 ARTICLE V 

MISCELLANEOUS 
 5.1
Notice. All notices, requests, demands, and other communications hereunder will be in writing and will be deemed to have been duly given: (a) if by transmission by facsimile or hand delivery, when delivered; (b) if mailed via
the official governmental mail system, five business days after mailing, provided said notice is sent first class, postage pre-paid, via certified or registered mail, with a return receipt requested; (c) if mailed by an
internationally-recognized overnight express mail service such as FedEx, UPS, or DHL Worldwide, one Business Day after deposit therewith is prepaid; or (d) if by e-mail, one business day after delivery with receipt is confirmed. All notices
will be addressed to the Parties at the respective addresses as follows. 
 If to SPLC: 

Shell Pipeline Company LP 

One Shell Plaza 

910 Louisiana Street 

Houston, Texas 77002 

Attn: Assistant General Counsel–Downstream Americas 

Facsimile: (713) 241-6161 

  
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 If to the Partnership: 

Shell Midstream Partners, L.P. 

c/o Shell Midstream Partners GP LLC, its general partner 

One Shell Plaza 

910 Louisiana Street 

Houston, Texas 77002 

Attn: General Counsel 

Facsimile: (713) 241-6161 

5.2 Headings; References; Interpretation. All Article and Section headings in this Agreement are for convenience only and shall
not be deemed to control or affect the meaning or construction of any of the provisions hereof. The words “hereof,” “herein” and “hereunder” and words of similar import, when used in this Agreement, shall refer to this
Agreement as a whole, and not to any particular provision of this Agreement. All references herein to Articles and Sections shall, unless the context requires a different construction, be deemed to be references to the Articles and Sections of this
Agreement. All personal pronouns used in this Agreement, whether used in the masculine, feminine or neuter gender, shall include all other genders, and the singular shall include the plural and vice versa. The use herein of the word
“including” following any general statement, term or matter shall not be construed to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to similar items or matters, whether
or not non-limiting language (such as “without limitation,” “but not limited to” or other words of similar import) is used with reference thereto, but rather shall be deemed to refer to all other items or matters that could
reasonably fall within the broadest possible scope of such general statement, term or matter. 
 5.3 Successors and Assigns.
This Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors and assigns. 
 5.4 No
Third Party Rights. The provisions of this Agreement are intended to bind the Parties as to each other and are not intended to and do not create rights in any other Person or confer upon any other Person any benefits, rights or remedies, and
no Person is or is intended to be a third party beneficiary of any of the provisions of this Agreement. 
 5.5 Counterparts.
This Agreement may be executed in any number of counterparts with the same effect as if all Parties had signed the same document. All counterparts shall be construed together and shall constitute one and the same instrument. 

5.6 Applicable Law. This Agreement shall be construed in accordance with and governed by the laws of the State of Delaware,
without regard to the principles of conflicts of law. EACH OF THE PARTIES HERETO AGREES THAT THIS AGREEMENT INVOLVES AT LEAST U.S. $100,000.00 AND THAT THIS AGREEMENT HAS BEEN ENTERED INTO IN EXPRESS RELIANCE UPON 6 Del. C. § 2708. EACH OF
THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES (a) TO BE SUBJECT TO THE JURISDICTION OF THE COURTS OF THE STATE OF DELAWARE AND OF THE FEDERAL COURTS SITTING IN THE STATE OF DELAWARE, AND (b) TO THE EXTENT SUCH PARTY IS NOT
OTHERWISE SUBJECT TO SERVICE OF PROCESS IN 

  
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THE STATE OF DELAWARE, TO APPOINT AND MAINTAIN AN AGENT IN THE STATE OF DELAWARE AS SUCH PARTY’S AGENT FOR ACCEPTANCE OF LEGAL PROCESS AND TO NOTIFY THE OTHER PARTIES OF THE NAME AND ADDRESS
OF SUCH AGENT. 
 5.7 Severability. If any of the provisions of this Agreement are held by any court of competent jurisdiction
to contravene, or to be invalid under, the laws of any political body having jurisdiction over the subject matter hereof, such contravention or invalidity shall not invalidate the entire Agreement. Instead, this Agreement shall be construed as if it
did not contain the particular provision or provisions held to be invalid and an equitable adjustment shall be made and necessary provision added so as to give effect to the intention of the Parties as expressed in this Agreement at the time of
execution of this Agreement. 
 5.8 Amendment or Modification. This Agreement may be amended or modified from time to time
only by the written agreement of all the Parties. Each such instrument shall be reduced to writing and shall be designated on its face as an amendment to this Agreement. 

5.9 Integration. This Agreement and the instruments referenced herein and in the exhibits attached hereto supersede all previous
understandings or agreements among the parties, whether oral or written, with respect to the subject matter of this Agreement and such instruments. This Agreement and such instruments contain the entire understanding of the Parties with respect to
the subject matter hereof and thereof. There are no unwritten oral agreements between the parties. No understanding, representation, promise or agreement, whether oral or written, is intended to be or shall be included in or from part of this
Agreement unless it is contained in a written amendment hereto executed by the parties hereto after the date of this Agreement. 
 5.10
Termination of Agreement. This Agreement may be terminated by the written agreement of all of the Parties. 
 5.11
Further Assurances. In connection with this Agreement and all matters contemplated by this Agreement, each Party agrees to execute and deliver such additional documents and instruments and to perform such additional acts as may be
necessary or appropriate to effectuate, carry out and perform all of the terms, provisions and conditions of this Agreement and all such transactions. 

[Remainder of page intentionally left blank] 

  
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 IN WITNESS WHEREOF, the Parties have executed this Agreement on, and effective as of, the
Effective Time. 
  

					
	 SHELL PIPELINE COMPANY LP

		
	 By:
	 	Shell Pipeline GP LLC,
		 	its general partner
		
	 By:
	 	  

		 	 Name:
	 	
		 	 Title:
	 	

  

					
	 SHELL MIDSTREAM PARTNERS, L.P.

		
	 By:
	 	Shell Midstream Partners GP LLC, its general partner
			
		 	 By:
	 	  

		 	 Name:
	 	
		 	 Title:
	 	

 Signature Page to Voting Agreementexh_101.htm

Exhibit 10.1

BED BATH & BEYOND INC.

650 Liberty Avenue

Union, NJ 07083

As of October 6, 2014

Ms. Susan E. Lattmann

[****]

Dear Susan:

We write to set forth our agreement with respect to your employment as an executive of Bed Bath & Beyond Inc. (the “Company”). Your current title with the Company is Chief Financial Officer and Treasurer.

1. Duties.

The Company hereby agrees to employ you, and you agree to be employed by the Company, on the terms and conditions hereinafter set forth. You will perform such duties as may from time to time be assigned to you by the Chief Executive Officer of the Company. You agree to serve the Company faithfully, diligently and competently, and to devote your full working time, energy and skill to the Company’s business. Your place of employment will remain in the greater New York area unless you consent to move.

2. Compensation.

The Company will pay you an annual salary at a rate not less than your current salary, payable in accordance with the Company’s customary payroll practices from time to time in effect. The Company will review your compensation annually and may, in its sole discretion, increase your annual salary. At no time will your annual salary be less than your annual salary in the immediately preceding year. You will be entitled to participate in such privileges and in such insurance and other benefit programs as are generally made available to the Company’s employees to the extent you meet the eligibility requirements for such privileges and programs. You will be entitled to take vacations in accordance with the Company’s vacation policy for managers from time to time in effect.

3. Severance Compensation.

(a) Your employment by the Company is not for any specific term but rather is on an ongoing at-will basis with the right by the Company and you to terminate your employment at any time. If the Company terminates your employment for any reason other than for “cause”, then the Company shall pay you, as severance pay, provided that you have not breached the provisions of paragraph 4 hereof, your salary at the rate in effect immediately prior to such termination, for a period of one (1) year, in normal payroll installments in accordance with the Company’s then payroll practices. Thus, if you have not violated the non-compete restrictions in Paragraph 4 hereof during a period expiring two years after the termination of your employment (as well as the other restrictions in that paragraph), the Company will guarantee that you will receive your salary for a period of one (1) year. This one-year severance obligation shall also apply if you die or become disabled. Your severance pay under this paragraph shall be reduced by any compensation earned by you as a result of your employment by another employer or otherwise. The Company shall have “cause” to terminate your employment only if you have (i) acted in bad faith or with dishonesty, (ii) willfully failed to follow the directions of the Company’s Chief Executive Officer or the Board of Directors, (iii) performed your duties with gross negligence, or (iv) been convicted of a felony.

(b) In addition, if the Company terminates your employment for any reason other than for “cause”, and if at the date of such termination there are options or time vested or performance vested restricted shares (“TVRS”) granted to you by the Company under any stock equity plan which were then not exercisable (in the case of options) and/or which were not then vested (in the case of TVRS) by reason of the installment terms thereof, the Company shall take such steps as may be necessary or appropriate to (i) make such options immediately exercisable for a period of at least thirty (30) days following the termination of your employment, and/or (ii) provide (subject to the achievement of any applicable performance goals) for the immediate acceleration of any then-unvested TVRS. For purposes of this Section 3(b), your death or disability shall constitute a termination of your employment by the Company for a reason other than for “cause”, except that, in such event, the Company shall take such steps as may be necessary or appropriate to (y) make such options immediately exercisable for a period of at least twelve (12) months following the termination of your employment, and/or (z) provide (without regard to the achievement of any applicable performance goals) for the immediate acceleration of any then-unvested TVRS.

  

  

  

4. Additional Provisions.

A. During your employment by the Company and for a period of two years thereafter, you agree that you will not: (a) whether alone or in association with any other person, directly or indirectly, engage or be interested in any business or enterprise in the United States that is competitive with the business of the Company. For purposes of this paragraph, you will be considered to have been engaged or interested in any business or enterprise if you are interested in such business or enterprise as a stockholder, director, officer, employee, agent, broker, partner, individual proprietor, lender, consultant or in any other capacity, except that nothing herein contained will prevent you from owning less than one percent (1%) of any class of equity or debt securities of any publicly traded company. For purposes of this paragraph, a business or enterprise will be deemed competitive with the business of the Company if it includes the operation of:

	
(i)  

	
any retail store which utilizes (or intends to utilize) more than 30% of the selling space of the store for the sale of any combination of: giftware; housewares; linens and domestics; home furnishings; and/or health and beauty care products; and/or products for infants and young children (including, without limitation, cribs and juvenile furniture, toys and games, infant’s and young children’s clothing, strollers, car seats, carriers, bedding, bath and safety accessories, and feeding and eating accessories);  and/or

	
(ii)  

	
any non-traditional retail format (such as, but not limited to, any on-line, internet, catalog or television format) which allocates (or intends to allocate) more than 30% of such format’s listing space or time slots to the sale of any combination of: giftware; housewares; linens and domestics; home furnishings; and/or health and beauty care products; and/or products for infants and young children (including, without limitation, cribs and juvenile furniture, toys and games, infant’s and young children’s clothing, strollers, car seats, carriers, bedding, bath and safety accessories, and feeding and eating accessories).

B. During your employment by the Company and for a period of two years thereafter, you agree that you will not, whether alone or in association with any other person, directly or indirectly, (i) solicit or induce, or attempt to solicit or induce, any employee of the Company to leave the employ of the Company; (ii) employ, or solicit for employment, on your behalf or on behalf of any other person (other than the Company), any person that is or was at any time an employee of the Company; or (iii) without the consent of the Company, trade with any supplier of the Company.

C. During or after your employment by the Company and thereafter, you agree that you will not, whether alone or in association with any other person, directly or indirectly (i) knowingly divulge, furnish or make accessible to any third person or organization other than in the regular course of the Company’s business any confidential information concerning the Company or its subsidiaries or its or their business, including, without limitation, confidential methods of operation and organization, confidential sources of supply and customer or other mailing lists, or (ii) disparage (even by making truthful statements) the Company, any affiliates of the Company as well as their officers, directors, employees, agents or others with whom the Company has business relationships.

D. The provisions of this paragraph 4 shall survive the end of the term of your employment hereunder. You acknowledge that any remedy at law for a breach or threatened breach of any of the provisions of this paragraph 4 may be inadequate and that accordingly the Company shall be entitled to an injunction or specific performance or any other mode of equitable relief without the necessity of showing any actual damage, posting a bond or furnishing other security.

5. Miscellaneous.

(a) The Company may, at its option and for its benefit, obtain insurance with respect to your death, disability or injury. You agree to submit to such physical examinations and supply such information as may be reasonably required in order to permit the Company to obtain such insurance.

(b) Any notice or other communication required or permitted to be given hereunder shall be deemed to have been duly given when personally delivered or when sent by registered mail, return receipt requested, postage prepaid, as follows:

If to the Company, at:

Bed Bath & Beyond Inc.

650 Liberty Avenue

Union, NJ 07083

 

  

  

  

If to you, at:

[****]

Either party hereto may change its or his address for the purpose of this paragraph by written notice similarly given.

(c) Neither party hereto may assign its rights or delegate its duties hereunder, except that the Company may assign its rights hereunder to any person that (i) acquires substantially all of the business and assets of the Company (whether by merger, consolidation, purchase of assets or other acquisition transaction), and (ii) agrees in writing to assume the obligations of the Company hereunder. This agreement shall be construed and enforced in accordance with the internal laws of the State of New York, without regard to principles of conflicts of laws. Nothing in this agreement shall create, or be deemed to create, any third party beneficiary rights in any person, including, without limitation, any employee of the Company other than you. You agree that all actions or proceedings relating to this agreement shall be tried and litigated only in the New York State or Federal courts located in the County of New York, State of New York. You hereby irrevocably submit to the exclusive jurisdiction of such courts for the purpose of any such action or proceeding. If any provision of this agreement shall be held to be invalid or unenforceable, such invalidity or unenforceability shall attach only to such provision and shall not affect or render invalid or unenforceable any other provision of this agreement, and this agreement shall be construed as if such provision had been drawn so as not to be invalid or unenforceable. This letter sets forth our entire understanding with respect to the subject matter hereof and cannot be changed, waived or terminated except by a writing signed by you and the Company. Any waiver by either party of a breach of any provision of this agreement shall not operate as or be construed to be a waiver of any other breach of such provision or of any breach of any other provision of this agreement. This agreement shall be binding on the successors and assigns of the Company.

(d) This Agreement is intended to comply with the applicable requirements of Section 409A of the Code and shall be limited, construed and interpreted in accordance with such intent. For severance pay purposes, termination of employment (other than in the case of death or “disability” as defined in Code Section 409A(a)(2)(C)(i) or (ii)) must constitute a “separation from service” within the meaning of regulations issued under Code Section  409A.

 

If the foregoing correctly sets forth your understanding of our agreement, please so indicate by signing and returning to us a copy of this letter.

BED BATH & BEYOND INC.

	
By:   /s/ Steven H. Temares                    

	
/s/ Susan E. Lattmann                     

	
Steven H. Temares

	
Susan E. Lattmann

	
Chief Executive Officer

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