Document:

SUSSdirectorindemag

Exhibit 10.43

DIRECTOR INDEMNIFICATION AGREEMENT
This Indemnification Agreement (this “Agreement”) is made and entered into as of this     ___ day of ___________, by and among Susser Holdings Corporation, a Delaware corporation (the “Company”); and ________________ (“Indemnitee”).  Each of the defined terms used in this Agreement shall have the definition set forth in Section 14 of this Agreement.
WHEREAS, in light of the litigation costs and risks to directors and officers resulting from their service to the Company and the desire of the Company to attract and retain qualified individuals to serve as directors and officers, it is reasonable, prudent and necessary for the Company to indemnify and advance expenses on behalf of the directors (including directors that also serve as officers) of the Company to the extent permitted by applicable law so that they will serve or continue to serve the Company free from undue concern regarding such risks;
WHEREAS, the Company has requested that Indemnitee serve or continue to serve as a director (and officer, as applicable) of the Company and may have requested or may in the future request that Indemnitee serve one or more Enterprises as a director or in other capacities;
WHEREAS, in order to induce Indemnitee to serve, or to continue to serve, as a director of the Company, and to agree to serve, from time to time, as the Company may request, in any other Corporate Status, the Company is executing this Agreement;
WHEREAS, Indemnitee is willing to serve as a director of the Company or in any other Corporate Status on the condition that Indemnitee be so indemnified;
WHEREAS, the indemnification provisions of this Agreement are a supplement to and in furtherance of the Certificate of Incorporation of the Company, as amended from time to time after the date hereof (the “Certificate of Incorporation”), the Amended and Restated Bylaws of the Company, as amended by the First Amendment to the Amended and Restated Bylaws, and as amended from time to time after the date hereof in accordance with the terms thereof (the “Bylaws” and, together with the Certificate of Incorporation, the “Company Organizational Documents”), any organizational documents of any other Enterprise (collectively, the “Enterprise Organizational Documents”) and any resolutions adopted by the Board of Directors (pursuant to the Company Organizational Documents) or similar governing body of any other Enterprise, and shall not be deemed to be a substitute therefor nor to diminish or abrogate any rights of Indemnitee thereunder; and
WHEREAS, to the extent Indemnitee is employed by a Sponsor Company, Indemnitee may have certain rights to indemnification, advancement of expenses or insurance provided by the Designating Partners (or their affiliates), which Indemnitee, the Company and the Designating Partners (or their affiliates) intend to be secondary to the primary obligation of the Enterprise Entities to indemnify Indemnitee as provided herein or as provided in the Company Organizational Documents or other Enterprise Organizational Documents, with the Company’s acknowledgement of and agreement to the foregoing being a material condition to Indemnitee’s willingness to serve as a director of the Company or in any other Corporate Status.

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NOW, THEREFORE, in consideration of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as follows:
1.Services by Indemnitee.  Indemnitee will serve or continue to serve as a director of the Company (and an officer, if applicable), for so long as Indemnitee is duly elected or appointed or until Indemnitee tenders Indemnitee’s resignation or is removed in accordance with the Bylaws.  Indemnitee may from time to time also agree to serve, as the Company may request from time to time, in any other Corporate Status.  Indemnitee and the Company each acknowledge that they have entered into this Agreement as a means of inducing Indemnitee to serve, or continue to serve, the Company and any Enterprise in such capacities.  Indemnitee may at any time and for any reason resign from such position or positions (subject to any other contractual obligation or any obligation imposed by operation of law).
2.    Indemnification—General.  On the terms and subject to the conditions of this Agreement, the Company shall, to the fullest extent permitted under applicable law and so long as Indemnitee has not engaged in Disabling Conduct, indemnify Indemnitee with respect to, and hold Indemnitee harmless from and against, all losses, liabilities, judgments, fines, penalties, costs, Expenses and other amounts that Indemnitee reasonably incurs and that result from, arise in connection with or are by reason of Indemnitee’s Corporate Status and shall advance Expenses to Indemnitee.  The obligations of the Company under this Agreement shall continue after such time as Indemnitee ceases to serve as a director of the Company or in any other Corporate Status and include, without limitation, claims for monetary damages against Indemnitee in respect of any actual or alleged liability or other loss of Indemnitee, to the fullest extent permitted under applicable law as in existence on the date hereof (and to such greater extent as applicable law may hereafter from time to time permit) provided that Indemnitee has not engaged in Disabling Conduct.  The other provisions in this Agreement are provided in addition to and as a means of furtherance and implementation of, and not in limitation of, the obligations expressed in this Section 2.
3.    Proceedings Other Than Proceedings by or in the Right of the Company.  If, in connection with or by reason of Indemnitee’s Corporate Status, Indemnitee was, is, or is threatened to be made, a party to or a participant in any Proceeding, other than a Proceeding by or in the right of the Company to procure a judgment in its favor, the Company shall, to the fullest extent permitted under applicable law and so long as Indemnitee has not engaged in Disabling Conduct, indemnify Indemnitee with respect to, and hold Indemnitee harmless from and against, all Expenses, liabilities, judgments, penalties, fines and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of such liabilities, judgments, penalties, fines and amounts paid in settlement) reasonably incurred by Indemnitee or on behalf of Indemnitee in connection with such Proceeding or any claim, issue or matter therein.
4.    Proceedings by or in the Right of the Company.  If, by reason of Indemnitee’s Corporate Status, Indemnitee was, is, or is threatened to be made, a party to or a participant in any Proceeding by or in the right the Company to procure a judgment in its favor, the Company shall, to the fullest extent permitted under applicable law and so long as Indemnitee has not engaged in 

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Disabling Conduct, indemnify Indemnitee with respect to, and hold Indemnitee harmless from and against, all Expenses incurred by Indemnitee or on behalf of Indemnitee in connection with such Proceeding; provided, however, that indemnification against such Expenses shall be made in respect of any claim, issue or matter in such Proceeding as to which Indemnitee shall have been adjudged by a court of competent jurisdiction to be liable to the Company only if (and only to the extent that) the court in which such Proceeding shall have been brought or is pending shall determine that, despite such adjudication of liability and in view of all circumstances, Indemnitee is fairly and reasonably entitled to indemnity for such Expenses which the court shall deem proper.
5.    Mandatory Indemnification in Case of Successful Defense.  Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason of Indemnitee’s Corporate Status, a party to (or a participant in) and is successful, on the merits or otherwise, in defense of any Proceeding (including, without limitation, any Proceeding brought by or in the right of the Company), the Company shall, to the fullest extent permitted under applicable law and so long as Indemnitee has not engaged in Disabling Conduct, indemnify Indemnitee with respect to, and hold Indemnitee harmless from and against, all Expenses incurred by Indemnitee or on behalf of Indemnitee in connection therewith.  If Indemnitee is not wholly successful in defense of such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall, to the fullest extent permitted under applicable law and so long as Indemnitee has not engaged in Disabling Conduct, indemnify Indemnitee against all Expenses incurred by Indemnitee or on behalf of Indemnitee in connection with each successfully resolved claim, issue or matter.  For purposes of this Section 5 and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, on substantive or procedural grounds, shall be deemed to be a successful result as to such claim, issue or matter.
6.    Partial Indemnification.  If Indemnitee is entitled under any provision of this Agreement or otherwise to indemnification by the Company for some or a portion of the Expenses, liabilities, judgments, penalties, fines and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of such liabilities, judgments, penalties, fines and amounts paid in settlement) incurred by Indemnitee or on behalf of Indemnitee in connection with a Proceeding or any claim, issue or matter therein, in whole or in part, the Company shall, to the fullest extent permitted under applicable law and so long as Indemnitee has not engaged in Disabling Conduct, indemnify Indemnitee to the fullest extent to which Indemnitee is entitled to such indemnification.
7.    Indemnification for Additional Expenses Incurred to Secure Recovery or as Witness.
		
	(a)
	The Company shall, to the fullest extent permitted under applicable law and so long as Indemnitee has not engaged in Disabling Conduct, indemnify Indemnitee with respect to, and hold Indemnitee harmless from and against, any and all Expenses and, if requested by Indemnitee, shall advance on an as-incurred basis (as provided in Section 8 of this Agreement) such Expenses to Indemnitee, which are incurred by Indemnitee in connection with any action or proceeding or part 

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thereof brought by Indemnitee for (i) indemnification, advance payment of Expenses or contribution by the Company under this Agreement, the Company Organizational Documents or other Enterprise Organizational Document, or any other agreement; or (ii) recovery under any director and officer liability insurance policies maintained by the Company or other Enterprise.
		
	(b)
	To the extent that Indemnitee is, by reason of Indemnitee’s Corporate Status, a witness (or is forced or asked to respond to discovery requests) in any Proceeding to which Indemnitee is not a party, the Company shall, to the fullest extent permitted under applicable law and so long as Indemnitee has not engaged in Disabling Conduct, indemnify Indemnitee with respect to, and hold Indemnitee harmless from and against, and the Company will advance on an as-incurred basis (as provided in Section 8 of this Agreement), all Expenses incurred by Indemnitee or on behalf of Indemnitee in connection therewith.

8.    Advancement of Expenses.  The Company shall, to the fullest extent permitted under applicable law, pay on a current and as-incurred basis all Expenses incurred by Indemnitee in connection with any Proceeding in any way connected with, resulting from or relating to Indemnitee’s Corporate Status.  The advancement of such Expenses shall be paid within ten (10) days after receipt by the Company of a properly submitted written request for advancement from Indemnitee pursuant to Section 9(c)(i) of this Agreement, without regard to whether an Adverse Determination has been or may be made, except as contemplated by the last sentence of Section 9(f) of this Agreement.  Upon submission of a request for advancement of Expenses pursuant to Section 9(c) of this Agreement, Indemnitee shall be entitled to advancement of Expenses as provided in this Section 8, and such advancement of Expenses shall continue until such time (if any) as there is a final non-appealable judicial determination that (i) Indemnitee is not entitled to indemnification or (ii) that Indemnitee engaged in Disabling Conduct.  Indemnitee shall repay all such amounts advanced if and to the extent that it shall ultimately be determined in a decision by a court of competent jurisdiction from which no appeal can be taken that Indemnitee is not entitled to be indemnified by the Company for such Expenses or that Indemnitee engaged in Disabling Conduct.  Such repayment obligation shall be unsecured and shall not bear interest.  The Company shall not impose on Indemnitee additional conditions to advancement or require from Indemnitee additional undertakings regarding repayment, except as set forth in this Agreement.  
9.    Indemnification Procedures.
		
	(a)
	Notice of Proceeding.  Indemnitee agrees to notify the Company promptly upon being served with any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification or advancement of Expenses hereunder.  Any failure by Indemnitee to notify the Company will relieve the Company of its advancement, indemnification or contribution obligations under this Agreement only to the extent the Company can establish that such omission to notify resulted in actual material prejudice to it, and the omission to notify the Company will, in any 

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event, not relieve the Company from any liability which it may have to indemnify Indemnitee or advance Expenses to Indemnitee otherwise than under this Agreement.  If, at the time of receipt of any such notice, the Company has director and officer insurance policies in effect, the Company will promptly notify the relevant insurers in accordance with the procedures and requirements of such policies.
		
	(b)
	Defense; Settlement.   

		
	(i)
	The Company shall not, without the prior written consent of Indemnitee, which may be provided or withheld in Indemnitee’s sole discretion, effect any settlement of any Proceeding against Indemnitee, or any proceeding which could have been brought against Indemnitee or which potentially or actually imposes any cost, liability, exposure or burden on Indemnitee, unless such settlement solely involves the payment of money or performance of any obligation by Persons other than Indemnitee and includes an unconditional release of Indemnitee from all liability on any matters that are the subject of such Proceeding and an acknowledgment that Indemnitee denies all wrongdoing in connection with such matters.  The Company shall not be obligated to indemnify Indemnitee for amounts paid in settlement of a Proceeding against Indemnitee if such settlement is effected by Indemnitee without the Company’s prior written consent, which consent shall not be unreasonably withheld. 

		
	(ii)
	In any Proceeding in connection with which Indemnitee has submitted a written request to the Company for advancement and/or indemnification of Expenses pursuant to Section 9(c) of this Agreement, the Company shall be entitled to assume the defense of such Proceeding, with counsel approved by Indemnitee, which approval shall not be unreasonably withheld, upon the delivery to Indemnitee of written notice of the Company’s election to do so.  After delivery of such notice, approval of such counsel by Indemnitee, and retention of such counsel by the Company, Indemnitee shall nevertheless be entitled to employ or continue to employ his own counsel in such Proceeding.  Employment of such counsel by Indemnitee shall be at the cost and expense of the Company unless and until the Company shall have demonstrated to the reasonable satisfaction of Indemnitee and Indemnitee’s counsel that there is no conflict of interest between the Company and Indemnitee in such Proceeding, after which time, further employment of such counsel by the Indemnitee shall be at the cost and expense of Indemnitee.

		
	(c)
	Request for Advancement; Request for Indemnification.  

		
	(i)
	To obtain advancement of Expenses under this Agreement, Indemnitee shall submit to the Company a written request therefor, together with such 

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invoices or other supporting information as may be reasonably requested by the Company and reasonably available to Indemnitee, and, only to the extent required by applicable law which cannot be waived, an unsecured written undertaking to repay amounts advanced to the extent that Indemnitee is obligated to repay such amounts pursuant to Section 8 of this Agreement.  The Company shall make advance payment of Expenses to Indemnitee no later than ten (10) days after receipt of the written request for advancement (and each subsequent request for advancement) by Indemnitee.  If, at the time of receipt of any such written request for advancement of Expenses, the Company has director and officer insurance policies in effect, the Company will promptly notify the relevant insurers in accordance with the procedures and requirements of such policies.
		
	(ii)
	To obtain indemnification under this Agreement, Indemnitee shall submit a written request therefor.  The time at which Indemnitee submits a written request for indemnification shall be determined by the Indemnitee in the Indemnitee's sole discretion.  Once Indemnitee submits such a written request for indemnification (and only at such time that Indemnitee submits such a written request for indemnification), a Determination shall thereafter be made, as provided in and only to the extent required by Section 9(d) of this Agreement.  In no event shall a Determination be made, or required to be made, as a condition to or otherwise in connection with any advancement of Expenses pursuant to Section 8 and Section 9(c)(i) of this Agreement.  If, at the time of receipt of any such request for indemnification, the Company has director and officer insurance policies in effect, the Company will promptly notify the relevant insurers in accordance with the procedures and requirements of such policies.

		
	(d)
	Determination.  Any Determination shall be made within thirty (30) days after receipt of Indemnitee’s written request for indemnification pursuant to Section 9(c)(ii) (or in the case of a Determination to be made by Independent Counsel within thirty (30) days of the selection of Independent Counsel) and such Determination shall be made, subject to Section 9(g), in the specific case as follows:

		
	(i)
	If a Potential Change in Control or a Change in Control shall have occurred, by Independent Counsel (selected in accordance with Section 9(e)) in a written opinion to the Board of Directors, a copy of which opinion shall be delivered to Indemnitee, unless Indemnitee shall request that such Determination be made by the Board of Directors, or a committee of the Board of Directors, in which case the Determination shall be made by the Persons and in the manners provided for in clauses (x) or (y) of Section 9(d)(ii) below; or

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	(ii)
	If a Potential Change in Control or a Change in Control shall not have occurred, (x) by the Board of Directors by a majority vote of the Disinterested Directors even though less than a quorum of the Board of Directors, (y) by a majority vote of a committee consisting solely of one or more Disinterested Directors designated to act in the matter by a majority vote of all Disinterested Directors, even though less than a quorum of the Board of Directors, or (z) if there are no Disinterested Directors or, if such Disinterested Directors so direct, by Independent Counsel in a written opinion to the Board of Directors, a copy of which shall be delivered to Indemnitee, with Independent Counsel being selected by a vote of the Disinterested Directors as set forth in clauses (x) or (y) of this Section 9(d)(ii), or if such vote is not obtainable or such a committee of Disinterested Directors cannot be established, by a majority vote of the Board of Directors.

If a Determination is made that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within ten (10) days after such Determination.  Indemnitee shall reasonably cooperate with the Persons making such Determination, including providing to such Persons upon reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to the making of such Determination.  Any Expenses incurred by Indemnitee in so cooperating with the Persons making such Determination shall be advanced and borne by the Company (irrespective of the Determination as to Indemnitee’s entitlement to indemnification), and the Company shall indemnify and hold Indemnitee harmless therefrom.
		
	(e)
	Independent Counsel.  If a Potential Change in Control or a Change in Control shall not have occurred and the Determination is to be made by Independent Counsel, the Independent Counsel shall be selected by (i) a majority vote of the Disinterested Directors, even though less than a quorum of the Board or (ii) if there are no Disinterested Directors, a majority vote of the Board, and the Company shall give written notice to Indemnitee, within ten (10) days after receipt by the Company of Indemnitee’s request for indemnification, specifying the identity and address of the Independent Counsel so selected.  If a Potential Change in Control or a Change in Control shall have occurred and the Determination is to be made by Independent Counsel, the Independent Counsel shall be selected by Indemnitee, and Indemnitee shall give written notice to the Company, within ten (10) days after submission of Indemnitee’s request for indemnification, specifying the identity and address of the Independent Counsel so selected (unless Indemnitee shall request that such selection be made by (i) a majority vote of the Disinterested Directors, even though less than a quorum of the Board, or (ii) if there are no Disinterested Directors, a majority vote of the Board, in which event the Company shall give written notice to Indemnitee within ten (10) days after receipt of Indemnitee’s request that such selection be made by a

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 majority vote of the Disinterested Directors or the Board, as applicable, specifying the identity and address of the Independent Counsel so selected).  In either event, (A) such notice to Indemnitee or the Company, as the case may be, shall be accompanied by a written affirmation of the Independent Counsel so selected that it satisfies the requirements of the definition of “Independent Counsel” in Section 14 of this Agreement and that it agrees to serve in such capacity and (B) Indemnitee or the Company, as the case may be, may, within seven (7) days after such written notice of selection shall have been given, deliver to the Company or to Indemnitee, as the case may be, a written objection to such selection.  Any objection to the selection of Independent Counsel pursuant to this Section 9(e) may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of the definition of “Independent Counsel” in Section 14 of this Agreement, and the objection shall set forth with particularity the factual basis of such assertion.  If such written objection is timely made, the Independent Counsel so selected may not serve as Independent Counsel unless and until a court of competent jurisdiction (a “Court”) has determined that such objection is without merit.  In the event of a timely written objection to a choice of Independent Counsel, the party originally selecting the Independent Counsel shall have seven (7) days to make an alternate selection of Independent Counsel and to give written notice of such selection to the other party, after which time such other party shall have five (5) days to make a written objection to such alternate selection.  If, within thirty (30) days after submission of Indemnitee’s request for indemnification pursuant to Section 9(c)(ii), no Independent Counsel shall have been selected and not objected to, either the Company or Indemnitee may petition the Court for resolution of any objection that shall have been made by the Company or Indemnitee to the other’s selection of Independent Counsel or for the appointment as Independent Counsel of a Person selected by the Court or by such other Person as the Court shall designate, and the Person with respect to whom an objection is so resolved or the Person so appointed shall act as Independent Counsel under Section 9(d).  The Company shall pay any and all fees and expenses reasonably incurred by such Independent Counsel in connection with acting pursuant to Section 9(d), and the Company shall pay all fees and expenses reasonably incurred incident to the procedures of this Section 9(e), regardless of the manner in which such Independent Counsel was selected or appointed.  Upon the due commencement of any Proceeding or arbitration pursuant to Section 9(f) of this Agreement, Independent Counsel shall be discharged and relieved of any further responsibility in such capacity, pending final disposition of such Proceeding or arbitration and subject to the applicable standards of professional conduct then prevailing.
		
	(f)
	Consequences of Determination; Remedies of Indemnitee.  The Company shall be bound by and shall have no right to challenge a Favorable Determination.  If an Adverse Determination is made, or if for any other reason the Company does not make timely indemnification payments or advances of Expenses, Indemnitee shall have the right to commence a Proceeding before a Court to challenge such 

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Adverse Determination or to require the Company to make such payments or advances (and the Company shall have the right to defend their position in such Proceeding and to appeal any adverse judgment in such Proceeding).  Indemnitee shall be entitled to be indemnified for all Expenses incurred in connection with such a Proceeding and to have such Expenses advanced by the Company in accordance with Section 8 of this Agreement.  If Indemnitee fails to challenge an Adverse Determination, or if Indemnitee challenges an Adverse Determination and such Adverse Determination has been upheld by a final judgment of a Court from which no appeal can be taken, then, to the extent and only to the extent required by such Adverse Determination or final judgment, the Company shall not be obligated to indemnify Indemnitee under this Agreement.
		
	(g)
	Presumptions; Burden and Standard of Proof.  The parties intend and agree that, to the extent permitted by law, in connection with any Determination by any Person, including a Court:

		
	(i)
	it will be presumed that Indemnitee is entitled to indemnification under this Agreement, and the Enterprise or any other Person challenging such right will have the burden of proof to overcome that presumption in connection with any Determination contrary to that presumption;

		
	(ii)
	the termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the applicable Enterprise, or, with respect to any criminal action or proceeding, that Indemnitee had reasonable cause to believe that Indemnitee’s conduct was unlawful, or that Indemnitee did not act in accordance with any other applicable standard of conduct imposed by contract, applicable law or otherwise;

		
	(iii)
	Indemnitee will be deemed to have acted in good faith if it is determined by a majority of the Board of Directors or other governing body of the applicable Enterprise or by Independent Counsel, as applicable, that Indemnitee’s action is based on the records or books of account of the applicable Enterprise, including financial statements, or on information supplied to Indemnitee by the officers, employees, or committees of the board of directors or other governing body of the applicable Enterprise, or on the advice of legal counsel for the applicable Enterprise or on information or records given in reports made to the applicable Enterprise by an independent certified public accountant or by an appraiser or other expert or advisor selected by the applicable Enterprise; and

		
	(iv)
	the knowledge and actions, or failure to act, of any director, officer, manager, representative, agent or employee of any Enterprise or other 

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relevant enterprises will not be imputed to Indemnitee in a manner that limits or otherwise adversely affects Indemnitee’s rights hereunder.
The provisions of this Section 9(g) shall not be deemed to be exclusive or to limit in any way the other circumstances in which Indemnitee may be deemed to have met the applicable standard of conduct set forth in this Agreement.
10.    Insurance; Subrogation; Other Rights of Recovery, Etc.
		
	(a)
	The Company shall use its reasonable best efforts to purchase and maintain a policy or policies of insurance with reputable insurance companies with A.M. Best ratings of “A” or better, providing Indemnitee with coverage for any liability asserted against, and incurred by, Indemnitee or on Indemnitee’s behalf by reason of Indemnitee’s Corporate Status, or arising out of Indemnitee’s status as such, whether or not the Company would have the power to indemnify Indemnitee against such liability.  Such insurance policies shall have coverage terms and policy limits at least as favorable to Indemnitee as the insurance coverage provided to any other current or former officer or director of the Company.  If the Company has such insurance in effect at the time it receives from Indemnitee any notice of the commencement of an action, suit, proceeding or other claim, the Company shall give prompt notice of the commencement of such action, suit, proceeding or other claim to the insurers in accordance with the procedures set forth in the policy.  The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such action, suit, proceeding or other claim in accordance with the terms of such policy, provided that the Company shall not be liable to pay or advance to Indemnitee any amounts otherwise indemnifiable under this Agreement or under any other indemnification agreement if and to the extent that Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise.  The Company shall continue to provide such insurance coverage to Indemnitee for a period of at least six (6) years after Indemnitee ceases to serve as a director or any other Corporate Status.

		
	(b)
	Subject to Section 10(d), in the event of any payment by the Company under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee against any other Enterprise, and Indemnitee hereby agrees, as a condition to obtaining any advancement or indemnification from the Company, to assign to the Company all of Indemnitee’s rights to obtain from such other Enterprise such amounts to the extent that they have been paid by the Company to or for the benefit of Indemnitee as advancement or indemnification under this Agreement and are adequate to indemnify Indemnitee with respect to the costs, Expenses or other items to the full extent that Indemnitee is entitled to indemnification or other payment hereunder; and Indemnitee will (upon request by the Company) execute all papers required and take all action necessary to secure such rights, including execution of such 

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documents as are necessary to enable the Company to bring suit or enforce such rights.
		
	(c)
	The Company hereby unconditionally and irrevocably waives, relinquishes and releases, and covenants and agrees not to exercise (and to cause each of the other Enterprises not to exercise), any rights that the Company or other Enterprise, as the case may be, may now have or hereafter acquire against any Designating Partner (or former Designating Partner) or any of their respective affiliates that arise from or relate to the existence, payment, performance or enforcement of the Company’ obligations under this Agreement or under any other indemnification agreement or arrangement (whether pursuant to contract, Company Organizational Documents or other Enterprise Organizational Documents or otherwise) with any Person, including, without limitation, any right of subrogation (whether pursuant to contract or common law), reimbursement, exoneration, contribution or indemnification, or to be held harmless, and any right to participate in any claim or remedy of Indemnitee against any Designating Partner (or former Designating Partner) or any of their respective affiliates, whether or not such claim, remedy or right arises in equity or under contract, statute or common law, including, without limitation, the right to take or receive from any Designating Partner (or former Designating Partner) or any of their respective affiliates, directly or indirectly, in cash or other property or by set-off or in any other manner, payment or security on account of such claim, remedy or right.

		
	(d)
	The Company shall not be liable to pay or advance to Indemnitee any amounts otherwise indemnifiable under this Agreement or under any other indemnification agreement if and to the extent that Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise; provided, however, that (i) the Company hereby agrees on behalf of itself and each other Enterprise Entity, that, irrespective of whether Indemnitee is employed by a Sponsor Company and therefore may have certain rights to indemnification, advancement of expenses or insurance provided by the Designating Partners or their affiliates, the Enterprise Entities are the indemnitors of first resort under this Agreement, the Company Organizational Documents or other Enterprise Organizational Documents or any other indemnification agreement, arrangement or undertaking (i.e., the Enterprise Entities’ obligations to Indemnitee under this Agreement or any other agreement or undertaking to provide advancement of Expenses and indemnification to Indemnitee are primary without regard to any rights Indemnitee may have to seek or obtain indemnification or advancement of Expenses from any Designating Partner or any of its affiliates other than an Enterprise Entity (or any former Designating Partner or any of its affiliates other than an Enterprise Entity) or from any insurance policy for the benefit of such Indemnitee (other than any directors’ and officers’ insurance policy for the benefit of such Indemnitee maintained or paid for by any Enterprise), and any obligation of any Designating Partner (or any affiliate thereof other than any Enterprise) to 

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provide advancement or indemnification for all or any portion of the same Expenses, liabilities, judgments, penalties, fines and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, liabilities, judgments, penalties, fines and amounts paid in settlement) incurred by Indemnitee and any rights of recovery of Indemnitee under any insurance policy for the benefit of such Indemnitee (other than any directors’ and officers’ insurance policy for the benefit of such Indemnitee maintained or paid for by any Enterprise) are secondary), and (ii) if any Designating Partner or any of its affiliates other than an Enterprise Entity (or any former Designating Partner or any of its affiliates other than an Enterprise Entity) pays or causes to be paid, for any reason, or if Indemnitee collects under any insurance policy for the benefit of such Indemnitee (other than any directors’ and officers’ insurance policy for the benefit of such Indemnitee maintained or paid for by any Enterprise), any amounts otherwise payable or indemnifiable hereunder or under any other indemnification agreement, arrangement or undertaking (whether pursuant to contract, organizational document or otherwise) with Indemnitee, then (x) such Designating Partner, former Designating Partner (or affiliate, as the case may be) or insurer, as applicable, shall be fully subrogated to all rights of Indemnitee with respect to such payment and (y) the Company shall fully indemnify, reimburse and hold harmless such Designating Partner, former Designating Partner (or such affiliate) or insurer, as applicable, for all such payments actually made by such Designating Partner, former Designating Partner (or such affiliate) or insurer.
		
	(e)
	Subject to Section 10(d), the Company’s obligation to indemnify or advance Expenses hereunder to Indemnitee in respect of or relating to Indemnitee’s Corporate Status shall be reduced by any amount Indemnitee has actually received as payment of indemnification or advancement of Expenses from such other Enterprise, except to the extent that such indemnification payments and advance payment of Expenses when taken together with any such amount actually received from other Enterprises or under director and officer insurance policies maintained by one or more Enterprises are inadequate to fully pay all costs, Expenses or other items to the full extent that Indemnitee is otherwise entitled to indemnification or other payment hereunder.

		
	(f)
	Except for the rights set forth in Sections 10(c), 10(d) and 10(e) of this Agreement, the rights to indemnification and advancement of Expenses as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at any time, whenever conferred or arising, be entitled under applicable law, the Company Organizational Documents or other Enterprise Organizational Documents or any other agreement, resolution of directors (or similar governing body) of any Enterprise, or otherwise.  Indemnitee’s rights under this Agreement are present contractual rights that fully vest upon Indemnitee’s first service as a director (and officer, if applicable) of the Company.  The Parties hereby agree that Sections 10(c), 10(d) and 10(e) of this Agreement 

12

shall be deemed exclusive and shall be deemed to modify, amend and clarify any right to indemnification or advancement provided to Indemnitee under any other contract, agreement or document with any Enterprise relating to advancement or indemnification.
		
	(g)
	No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee in Indemnitee’s Corporate Status prior to such amendment, alteration or repeal.  The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy.

11.    Employment Rights; Successors; Third Party Beneficiaries.
		
	(a)
	Nothing contained in this Agreement shall be construed as giving Indemnitee any right to be, or to be retained, in the employment of any of the Enterprise Entities.  This Agreement shall continue in force as provided above after Indemnitee has ceased to serve as a director of the Company or in any other Corporate Status.

		
	(b)
	This Agreement shall be binding on the Company and each successor to or assignee of the Company (including, without limitation, any direct or indirect successor or assignee by purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of the Company); and, unless such succession or assignment occurs by operation of law, the Company shall require and cause any such successor or assignee to expressly assume and agree to perform this Agreement to the same extent that the Company would be required to perform if no such succession or assignment had occurred.  This Agreement shall also inure to the benefit of Indemnitee and Indemnitee’s heirs, executors and administrators.

		
	(c)
	The Designating Partners are express third party beneficiaries of this Agreement, are entitled to rely upon this Agreement, and may specifically enforce the Company’s obligations hereunder (including but not limited to the obligations specified in Section 10 of this Agreement) as though a party hereunder.

12.    Severability.  If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever:  (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including, without limitation, each portion of any Section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby; (b) such provision or provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of any Section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested thereby.

13

13.    Exceptions to Right of Indemnification or Advancement of Expenses.  Notwithstanding any other provision of this Agreement and except as provided in Section 7(a) of this Agreement or as may otherwise be agreed by the Company, Indemnitee shall not be entitled to indemnification or advancement of Expenses under this Agreement with respect to any Proceeding initiated by Indemnitee (other than a Proceeding by Indemnitee (i) to enforce Indemnitee’s rights under this Agreement or (ii) to enforce any other rights of Indemnitee to indemnification, advancement or contribution from the Company under any other contract, Company Organizational Document, Enterprise Organizational Document or under statute or other law), unless the initiation of such Proceeding or making of such claim shall have been approved by the Board of Directors.  In addition, notwithstanding any other provision of this Agreement to the contrary, to the extent that Indemnitee is an officer of the Company or any Enterprise, Indemnitee shall not be entitled to indemnification or advancement of Expenses under this Agreement with respect to any Proceeding if it is determined by a majority of the board of directors or other governing body of the applicable Enterprise or by Independent Counsel, as applicable, that Indemnitee did not act in good faith and in a manner Indemnitee reasonably believed to be in, or not opposed to, the best interests of the Company or any such Enterprise.
14.    Definitions.  For purposes of this Agreement:
		
	(a)
	“Adverse Determination” shall have the meaning set forth in the definition of Determination.

		
	(b)
	“Beneficial Owner” shall have the meaning set forth in Rule 13d-3 promulgated under the Exchange Act as in effect on the date hereof, and “Beneficially Owns” and “Beneficially Owned” shall have correlative meanings. 

		
	(c)
	“Board of Directors” or “Board” means the board of directors of the Company.

		
	(d)
	“Change of Control” shall be deemed to have occurred with respect to the Company if any change in control or similar event, however denominated, shall occur under and as defined in the Bylaws, provided, however, that if there is no such provision in the Bylaws, a “Change of Control” shall occur for purposes of this Agreement when any Person shall Beneficially Own, directly or indirectly, Equity Interests of the Company representing more than 35% of the aggregate ordinary voting power represented by the issued and outstanding Equity Interests of the Company, unless during any period of twelve (12) consecutive calendar months, a majority of the seats (other than vacant seats) on the board of directors  of the Company shall be occupied by persons who were (x) members of the board of directors of the Company on the date of this Agreement or nominated by the board of directors (or similar governing body) of the Company or (y) appointed by directors so nominated.

		
	(e)
	“Corporate Status” describes the status of a person by reason of such person’s past, present or future service as a director or officer or in any capacity for any Enterprise at the request of the Company.

14

		
	(f)
	“Designating Partners” means any of the Sponsors Companies, in each case so long as an individual employed by a Sponsor Company, or any of their respective affiliates, serves as a director of the Company or in any other Corporate Status.

		
	(g)
	“Determination” means a determination that either (x) indemnification of Indemnitee is proper in the circumstances because Indemnitee met a particular standard of conduct (a “Favorable Determination”) or (y) indemnification of Indemnitee is not proper in the circumstances because Indemnitee failed to meet a particular standard of conduct under Delaware law that is a legally required condition to indemnification of Indemnitee hereunder (an “Adverse Determination”).  An Adverse Determination shall include the decision that a Determination was required in connection with indemnification and the decision as to the applicable standard of conduct.

		
	(h)
	“Disabling Conduct” means that, in respect of the particular claim, issue or matter in question or the particular Proceeding, there is a final non-appealable judicial determination that the Indemnitee acted in bad faith, engaged in fraud, willful misconduct or, in the case of a criminal matter, acted with knowledge that the Indemnitee’s conduct was criminal.

		
	(i)
	“Disinterested Director” means, with respect to any request by Indemnitee for indemnification hereunder, a director of the Company who at the time of the vote is not a party to the Proceeding in respect of which indemnification is sought by Indemnitee.

		
	(j)
	“Enterprise” shall mean the Company and its respective subsidiaries and any other entity, constituent entity (including any constituent of a constituent) absorbed in a consolidation or merger to which the Company (or any of its subsidiaries) is a party, limited liability company, partnership, joint venture, trust, employee benefit plan, or other enterprise of which Indemnitee is or was serving at the request of the Company as a director, officer, trustee, manager, venturer, proprietor, partner, member, employee, agent, fiduciary or similar functionary.

		
	(k)
	“Enterprise Entity” means any Enterprise.

		
	(l)
	“Equity Interests” means shares of capital stock, partnership interests, membership interests in a limited liability company, beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof to purchase or acquire any such equity interest.

		
	(m)
	“Exchange Act” means the Securities Exchange Act of 1934 and the rules and regulations promulgated thereunder.

		
	(n)
	“Expenses” shall mean all reasonable direct and indirect costs, fees and expenses of any type or nature whatsoever and shall specifically include, without limitation, all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees and costs 

15

of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in, or otherwise participating in, a Proceeding, including, but not limited to, the premium for appeal bonds, attachment bonds or similar bonds and all interest, assessments and other charges paid or payable in connection with or in respect of any such Expenses, and shall also specifically include, without limitation, all reasonable attorneys’ fees and all other expenses incurred by or on behalf of Indemnitee in connection with preparing and submitting any requests or statements for indemnification, advancement, contribution or any other right provided by this Agreement, as well as any taxes paid by the Indemnitee on receipt of indemnification, advancement of Expenses, or contribution under the Agreement.  “Expenses,” however, shall not include amounts paid in settlement by Indemnitee or the amounts of judgments or fines against Indemnitee.
		
	(o)
	“Favorable Determination” shall have the meaning set forth in the definition of Determination.

		
	(p)
	“Independent Counsel” means, at any time, any law firm, or a member of a law firm, that (a) is experienced in matters of limited partnership, limited liability company or corporation law, as applicable, and (b) is not, at such time, or has not been in the three years prior to such time, retained to represent: (i) any Enterprise or Indemnitee in any matter material to either such party (other than with respect to matters concerning Indemnitee under this Agreement, or of other indemnities under similar indemnification agreements), (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder or (iii) the Beneficial Owner, directly or indirectly, of securities of the Company representing 5% or more of the ownership interests or the voting power of the Company’s then outstanding ownership interests or voting securities, respectively.  Notwithstanding the foregoing, the term “Independent Counsel” shall not include any Person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.  The Company agrees to pay the reasonable fees and expenses of the Independent Counsel referred to above and to fully indemnify such counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto and to be jointly and severally liable therefor.

		
	(q)
	“Person” means any individual, entity or group (within the meaning of Rule 13d-5 of the Exchange Act but excluding any employee benefit plan of such person and its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan).

16

		
	(r)
	“Potential Change in Control” shall be deemed to have occurred if (i) any Person shall have announced publicly an intention to take actions to effect a Change in Control, or commenced any action that, if successful, would reasonably be expected to result in the occurrence of a Change in Control; (ii) the Company enters into an agreement or arrangement, the consummation of which would result in the occurrence of a Change in Control; or (iii) any other event occurs that the Board of Directors declares to be a Potential Change of Control.

		
	(s)
	“Proceeding” includes any actual, threatened, pending or completed action, suit, arbitration, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened, pending or completed proceeding, whether brought by or in the right of any Enterprise or otherwise and whether civil, criminal, administrative or investigative in nature, in which Indemnitee was, is, may be or will be involved as a party, witness or otherwise, by reason of Indemnitee’s Corporate Status or by reason of any action taken by Indemnitee or of any inaction on Indemnitee’s part while acting as director (or officer, as applicable) of the Company or serving any other Enterprise (in each case whether or not he is acting or serving in any such capacity or has such status at the time any liability or expense is incurred for which indemnification or advancement of Expenses can be provided under this Agreement).

		
	(t)
	“Sponsor Companies” means any other entity that is an affiliate of the Company.

15.    Construction.  Whenever required by the context, as used in this Agreement the singular number shall include the plural, the plural shall include the singular, and all words herein in any gender shall be deemed to include (as appropriate) the masculine, feminine and neuter genders.
16.    Reliance.  The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on each of them hereby in order to induce Indemnitee to serve as a director (and officer, as applicable) of the Company, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving as a director (and officer, as applicable) of the Company or in any other Corporate Status.
17.    Modification and Waiver.  No supplement, modification or amendment of this Agreement shall be binding unless executed in a writing identified as such by all of the parties hereto.  No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.
18.    Notice Mechanics.  All notices, requests, demands or other communications hereunder shall be in writing and shall be deemed to have been duly given if (i) delivered by hand and receipted for by the party to whom said notice or other communication shall have been direct, or (ii) mailed by certified or registered mail with postage prepaid, on the third business day after the date on which it is so mailed:

17

		
	(a)
	If to Indemnitee to:

Attn: 

		
	(b)
	If to the Company, to:

Susser Holdings Corporation 
4525 Ayers Street 
Corpus Christi, Texas 78415
Attn: General Counsel

or to such other address as may have been furnished (in the manner prescribed above) as follows:  (a) in the case of a change in address for notices to Indemnitee, furnished by Indemnitee to the Company and (b) in the case of a change in address for notices to the Company, furnished by the Company to Indemnitee.
19.    Contribution.  To the fullest extent permitted under applicable law and so long as Indemnitee has not engaged in Disabling Conduct, if the indemnification provided for in this Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement or for reasonably incurred Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to reflect (i) the relative benefits received by the Company and Indemnitee as a result of the event(s) or transaction(s) giving cause to such Proceeding; or (ii) the relative fault of the Company (and their other directors, officers, employees and agents) and Indemnitee in connection with such event(s) or transaction(s).
20.    Governing Law; Submission to Jurisdiction; Appointment of Agent for Service of Process.  This Agreement and the legal relations among the parties shall, to the fullest extent permitted by law, be governed by, and construed and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules.  The Company and Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the Court of Chancery of the State of Delaware (the “Trial Court”), and not in any other state or federal court in the United States of America or any court in any other country, (ii) consent to submit to the exclusive jurisdiction of the Trial Court for purposes of any action or proceeding arising out of or in connection with this Agreement, (iii) waive any objection to the laying of venue of any such action or proceeding in the Trial Court and (iv) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Trial Court has been brought in an improper or otherwise inconvenient forum.

18

21.    Headings.  The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof.
22.    Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement.
[Remainder of Page Intentionally Blank]

19

IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year first above written.
	
		
	Company:
	SUSSER HOLDINGS CORPORATION

	 
	 

	 
	By:___________________________________
Name:  
Title:  

	 
	 

	 
	 

	Indemnitee:
	______________________________________
Name:Exhibit 10.1 Third Amendment (Q4 2013)

Exhibit 10.1
Execution Version

Borrowing Base Agreement and Third Amendment to Amended and Restated Credit Agreement
THIS BORROWING BASE AGREEMENT AND THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”), dated as of February 26, 2014 (the “Amendment Effective Date”), is by and among Eagle Rock Energy Partners, L.P., a Delaware limited partnership (the “Borrower”), the Lenders party hereto, and Wells Fargo Bank, National Association, as administrative agent for the lenders (together with its successors in such capacity, the “Administrative Agent”).
Recitals
WHEREAS, the Borrower, the Lenders and agents party thereto, and the Administrative Agent are party to that certain Amended and Restated Credit Agreement, dated as of June 22, 2011 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”).  Unless otherwise defined herein, capitalized terms used herein shall have the respective meanings assigned to them in the Credit Agreement;
WHEREAS, the Borrower has requested that the Administrative Agent and the Lenders amend the Credit Agreement to (i) adjust the requirements of the Total Leverage Ratio and Senior Secured Leverage Ratio for fiscal quarter ending March 31, 2014, (ii) permit certain adjustments to Consolidated EBITDA as described below, (iii) permit certain adjustments to the calculation of the Midstream Component and (iv) postpone the effectiveness of the Scheduled Upstream Component Redetermination currently scheduled to occur on April 1, 2014;
WHEREAS, the Administrative Agent and the Lenders party hereto are willing to amend the Credit Agreement and make certain accommodations with respect to the Upstream Component of the Borrowing Base, in each case as described herein, upon the satisfaction of the conditions set forth herein;
NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
ARTICLE I
Amendments to Credit Agreement
Section 1.01    Amendments to Section 1.01. Section 1.01 of the Credit Agreement is amended as follows:

(a)The definition of “Applicable Margin” is hereby amended by adding the following at the end thereof:

Notwithstanding the foregoing, from and including (i) the earlier to occur of (A) the effective date of a Midstream Multiplier Increase and (B) April 1, 2014, to but excluding (ii) the Closing 

Date (as defined in the Contribution Agreement), automatically and without any further action on the part of the Administrative Agent and the Lenders, the Applicable Margin shall be 200 basis points (in the case of ABR Loans) or 300 basis points (in the case of Eurodollar Loans), as applicable.
(b)The definition of “Consolidated EBITDA” is hereby amended by adding the following at the end thereof:
Notwithstanding the foregoing, any fees or expenses incurred in connection with the Borrower evaluating and negotiating a strategic disposition of all of its Midstream Properties, including, but not limited to the fees or expenses incurred in connection with the Contribution Agreement shall be added to Consolidated Net Income in determining Consolidated EBITDA.
(c)The definition of “Midstream Attributed Value” is hereby amended and restated in its entirety as follows:

“Midstream Attributed Value” means for any Midstream Properties, the Midstream EBITDA for such Midstream Properties multiplied by 3.75 (or 4.00, if elected pursuant to under Section 2.08(b)(iv)).
(d)The definition of “Midstream Component” is hereby amended and restated in its entirety as follows:

“Midstream Component” means an amount equal to the lesser of (a) Midstream EBITDA multiplied by 3.75 (or 4.00, if elected pursuant to under Section 2.08(b)(iv)) and (b) fifty-five percent (55%) of the Borrowing Base (or sixty percent (60%) of the Borrowing Base for the first two full fiscal quarters following an acquisition of Midstream Properties in an aggregate amount in excess of $25,000,000).
(e)Section 1.01 of the Credit Agreement is hereby amended by adding the following definitions where alphabetically appropriate:

“Contribution Agreement” means that certain Contribution Agreement, dated as of December 23, 2013, by and between the Borrower, Regency Energy Partners, L.P., a Delaware limited partnership, and Regal Midstream LLC, a Delaware limited liability company. 

“Midstream Multiplier Increase” has the meaning assigned to such term in Section 2.08(b)(iv).

Section 1.02    Amendments to Section 2.08(b).  Section 2.08(b) is hereby amended by adding new subsection (iv) at the end thereof as follows:

(iv)    Optional Increase of Midstream Multiplier and Effect Thereof.  With respect to only the four-fiscal quarter periods ending December 31, 2013 and March 31, 2014, upon the election of the Borrower, the multiplier set forth in the definitions of “Midstream Attributed Value” and “Midstream Component” shall be increased from 3.75 to 4.00.  To make such election, the Borrower shall deliver written notice to the Administrative 
Agent.  Such increase (a “Midstream Multiplier Increase”) shall be effective on the date of delivery of such written notice.  Notwithstanding anything set forth in this Section 2.08, upon the Borrower’s election of a Midstream Multiplier Increase, the Midstream Component then in effect (as most recently 

determined pursuant to Section 2.08(b)(ii)) shall be recalculated by the Administrative Agent using the increased multiplier.  The Administrative Agent shall deliver a New Midstream Component Notice to the Borrower and the Lenders, and the new Midstream Component, and the resulting new Borrowing Base shall become the new Midstream Component and the new Borrowing Base, respectively, effective and applicable to the Borrower, the Agents, any Issuing Bank and the Lenders as of the date of the Midstream Multiplier Increase.
Section 1.03    Amendments to Section 9.01. Section 9.01 of the Credit Agreement is hereby amended as follows:

(f)Section 9.01(b) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
(b)    Total Leverage Ratio.  The Borrower will not, as of the last day of any fiscal quarter, permit the Total Leverage Ratio to be greater than the applicable ratio set forth for such fiscal quarter below.

	
		
	Fiscal Quarter Ended
	Total Leverage
Ratio

	December 31, 2013
	5.50:1.00

	March 31, 2014
	5.85:1.00

	June 30, 2014
	5.00:1.00

	September 30, 2014
	4.75:1.00

	December 31, 2014 
through the Maturity Date
	4.50:1.00

(g)Section 9.01(f) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
(h)

(f)    Senior Secured Leverage Ratio.  The Borrower will not, as of the last day of any fiscal quarter ending on or before September 30, 2014, permit the Senior Secured Leverage Ratio to exceed the applicable ratio set forth below for such fiscal quarter.
	
		
	Fiscal Quarter Ended
	Total Senior Secured Leverage
Ratio

	December 31, 2013
	3.15:1.00

	March 31, 2014
	3.40:1.00

	June 30, 2014
	3.05:1.00

	September 30, 2014
	2.95:1.00

ARTICLE II
Upstream Borrowing Base
Section 2.01    Notwithstanding anything to the contrary set forth in the Credit Agreement, the Scheduled Upstream Component Redetermination scheduled to become effective as of April 1, 2014 

pursuant to Section 2.08(a)(iv)(A) of the Credit Agreement is hereby postponed and shall not become effective until the earlier to occur of (a) the Closing Date (as defined in the Contribution Agreement) or (b) June 1, 2014 (such date, the “Postponed Redetermination Date”).  In addition, the Borrower, the Administrative Agent and the Lenders hereby agree that from and after the Amendment Effective Date, to but excluding the Postponed Redetermination Date, the amount of the Upstream Component shall be $380,000,000.  For the avoidance of doubt, (i) the foregoing sentence shall not constitute an Interim Upstream Component Redetermination and (ii) this Section 2.01 shall not affect any of the Borrower’s obligations set forth in Section 8.12 of the Credit Agreement, including the obligation to deliver a Reserve Report dated as of December 31, 2013, on or before March 1, 2014.

ARTICLE III
Conditions Precedent
Section 3.01    This Amendment shall not become effective until the date on which each of the following conditions is satisfied:

(a)the Administrative Agent has received duly executed counterparts of this Amendment from the Borrower and each Lender, in such numbers as the Administrative Agent or its counsel may reasonably request;

(b)the Administrative Agent has received, for the account of each Lender, on or prior to the date hereof, upfront fees in an aggregate amount for each Lender equal to two and one-half basis points (0.025%) of the amount of such Lender’s Commitment;

(c)the Administrative Agent and the Lenders have received such other fees as may be agreed to among the Borrower, the Administrative Agent and the Lenders with respect hereto and all other fees due and payable on or prior to the effectiveness hereof as provided in any Loan Document, including to the extent invoiced in reasonable detail reimbursement or payment of all out-of-pocket expenses required to be reimbursed or paid by the Borrower under the Credit Agreement (including, without limitation, the reasonable fees and expenses of counsel to the Administrative Agent); and

(d)before and after giving effect to this Amendment, no Default or Event of Default has occurred and is continuing, or will occur and be continuing as of the Amendment Effective Date.

The Administrative Agent is authorized to declare this Amendment effective upon the satisfaction of the foregoing conditions and shall notify the Borrower and the Lenders thereof, and such notice shall be conclusive and binding.

ARTICLE IV
Representations and Warranties

Section 4.01    Each Loan Party hereby represents and warrants to each Lender that:

(a)    each of the representations and warranties of such Loan Party set forth in the Credit Agreement and in the other Loan Documents is true and correct in all material respects on and as of the Amendment Effective Date as if made on and as of the Amendment Effective Date, except to the extent any such representations and warranties are expressly limited to an earlier date, in which case, 

such representations and warranties continue to be true and correct in all material respects as of such specified earlier date;
(b)    at the time of, and immediately after giving effect to, this Amendment, no Default has occurred and is continuing;
(c)    the execution, delivery and performance by such Loan Party of this Amendment are within its powers and have been duly authorized by all necessary corporate or other action;
(d)    this Amendment constitutes the legal, valid and binding obligation of such Loan Party, enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law; and
(e)    the execution, delivery and performance by such Loan Party of this Amendment (i) does not require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority or any other third Person (including shareholders or any class of directors, whether interested or disinterested, of the Loan Parties or any other Person), nor is any such consent, approval, registration, filing or other action necessary for the validity or enforceability of this Amendment  or the consummation of the transactions contemplated hereby, except such as have been obtained or made and are in full force and effect other than those third party approvals or consents which, if not made or obtained, would not cause a Default hereunder, could not reasonably be expected to have a Material Adverse Effect or do not have an adverse effect on the enforceability of this Amendment or the other Loan Documents, (ii) will not violate any applicable law or regulation or any Organization Document of such Loan Party or any order of any Governmental Authority, (iii) will not violate or result in a default under any indenture, agreement or other instrument binding upon such Loan Party or its Properties, or give rise to a right thereunder to require any payment to be made by such Loan Party and (iv) will not result in the creation or imposition of any Lien on any Property of such Loan Party (other than the Liens created by the Loan Documents).
ARTICLE V
Miscellaneous
Section 5.01    Credit Agreement in Full Force and Effect as Amended.  Except as specifically amended hereby, the Credit Agreement and other Loan Documents shall remain in full force and effect and are hereby ratified and confirmed as so amended.  Each Loan Party hereby (a) acknowledges the terms of this Amendment and (b) ratifies and affirms its obligations under, and acknowledges, renews and extends its continued liability under, and any security interested granted by, each Loan Document to which it is a party and agrees that each Loan Document to which it is a party remains in full force and effect, notwithstanding the consents and waivers contained herein.  Except as expressly set forth herein, this Amendment shall not be deemed to be a waiver, amendment or modification of any provisions of the Credit Agreement or any other Loan Document or any right, power or remedy of the Administrative Agent or the Lenders, or constitute a waiver of any provision of the Credit Agreement or any other Loan Document, or any other document, instrument and/or agreement executed or delivered in connection therewith or of any Default or Event of Default under any of the foregoing, in each case whether arising before or after the date hereof or as a result of performance hereunder or thereunder.  This Amendment also shall not preclude the future exercise of any right, remedy, power, or privilege available to the Administrative Agent and/or the Lenders whether under the Credit Agreement, the other Loan Documents, at law or otherwise.  All references to the Credit Agreement shall be deemed to mean the Credit Agreement as modified hereby.  The parties hereto agree to be bound by the terms and conditions of the Credit Agreement and Loan Documents as amended by this Amendment, as though such terms and conditions were set forth herein.  Each reference in 

the Credit Agreement to “this Agreement,” “hereunder,” “hereof,” “herein” or words of similar import shall mean and be a reference to the Credit Agreement as amended by this Amendment, and each reference herein or in any other Loan Documents to the “Credit Agreement” shall mean and be a reference to the Credit Agreement as amended and modified by this Amendment. 

Section 5.02    GOVERNING LAW.  THIS AMENDMENT, AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER, SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.

Section 5.03    Descriptive Headings, Etc.  The descriptive headings of the sections of this Amendment are inserted for convenience only and shall not be deemed to affect the meaning or construction of any of the provisions hereof.  The statements made and the terms defined in the recitals to this Amendment are hereby incorporated into this Amendment in their entirety.

Section 5.04    Entire Agreement.  This Amendment and the documents referred to herein represent the entire understanding of the parties hereto regarding the subject matter hereof and supersede all prior and contemporaneous oral and written agreements of the parties hereto with respect to the subject matter hereof.  

Section 5.05    Loan Document.  This Amendment is a Loan Document executed under the Credit Agreement, and all provisions in the Credit Agreement pertaining to Loan Documents apply hereto.

Section 5.06    Counterparts.  This Amendment may be executed in any number of counterparts and by different parties on separate counterparts, each of which shall constitute an original but all of which when taken together shall constitute but one agreement.  Delivery of an executed counterpart of the signature page of this Amendment by facsimile or other electronic transmission shall be effective as delivery of a manually executed counterpart thereof.

Section 5.07    Successors.  The execution and delivery of this Amendment by any Lender shall be binding upon each of its successors and assigns.

[SIGNATURE PAGES FOLLOW]

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective authorized officers as of the date first written above.

		
	BORROWER: 
	EAGLE ROCK ENERGY PARTNERS, L.P.

By:    Eagle Rock Energy GP, L.P.
By:    Eagle Rock Energy G&P, LLC

By:    /s/ Jeffrey P. Wood                
Name: Jeffrey P. Wood
Title:   Chief Financial Officer
 
		
	 GUARANTORS: 
	EROC MIDSTREAM ENERGY, L.P.

EROC QUITMAN GATHERING COMPANY, LP
EROC GATHERING COMPANY, LP
MIDSTREAM GAS SERVICES, L.P.
EAGLE ROCK FIELD SERVICES, L.P.
EAGLE ROCK ENERGY SERVICES, L.P.
EAGLE ROCK PIPELINE, L.P.
EAGLE ROCK UPSTREAM DEVELOPMENT II, L.P.
EAGLE ROCK GAS GATHERING & PROCESSING, LTD.
EAGLE ROCK OPERATING, L.P.
EAGLE ROCK GOM, L.P.
EAGLE ROCK DESOTO PIPELINE, L.P.
EAGLE ROCK MIDSTREAM, L.P.

		
	By: 
	Eagle Rock Pipeline GP, LLC, its general partner

By:    /s/ Jeffrey P. Wood                
Name: Jeffrey P. Wood
Title:   Chief Financial Officer

EAGLE ROCK ACQUISITION PARTNERSHIP L.P.

		
	By: 
	Eagle Rock Upstream Development Company, Inc., its general partner

By:    /s/ Jeffrey P. Wood                
Name: Jeffrey P. Wood
Title:   Chief Financial Officer

EAGLE ROCK ACQUISITION PARTNERSHIP II, L.P.

		
	By: 
	Eagle Rock Upstream Development Company II, Inc., its general partner

By:    /s/ Jeffrey P. Wood                
Name: Jeffrey P. Wood
Title:   Chief Financial Officer

EAGLE ROCK ENERGY GP, L.P.

		
	By: 
	Eagle Rock Energy G&P, LLC, its general partner

By:    /s/ Jeffrey P. Wood                
Name: Jeffrey P. Wood
Title:   Chief Financial Officer

EAGLE ROCK ENERGY G&P, LLC
HESCO GATHERING COMPANY, LLC
HESCO PIPELINE COMPANY, L.L.C.
EROC PRODUCTION, LLC
EAGLE ROCK PIPELINE GP, LLC
EAGLE ROCK ENERGY ACQUISITION CO., INC. 
EAGLE ROCK UPSTREAM DEVELOPMENT COMPANY, INC. 
ESCAMBIA ASSET CO. LLC
ESCAMBIA OPERATING CO. LLC
EAGLE ROCK ENERGY ACQUISITION CO. II, INC.
EAGLE ROCK UPSTREAM DEVELOPMENT COMPANY II, INC.
SUPERIOR GAS COMPRESSION, LLC
GALVESTON BAY GATHERING, LLC
CMA PIPELINE PARTNERSHIP, LLC
EAGLE ROCK FINANCE CORP.
EAGLE ROCK ENERGY G&P HOLDING, INC.
EAGLE ROCK MARKETING, LLC
EAGLE ROCK GAS SERVICES, LLC
EAGLE ROCK MID-CONTINENT HOLDING, LLC
EAGLE ROCK MID-CONTINENT ASSET, LLC

By:    /s/ Jeffrey P. Wood                
Name: Jeffrey P. Wood
Title:   Chief Financial Officer

WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent and Lender

By:    /s/ Shiloh Davila    
Name:    Shiloh Davila
Title:     Vice President

THE ROYAL BANK OF SCOTLAND, plc, as Co-Documentation Agent and Lender

By:    /s/ Sanjay Remond    
Name:    Sanjay Remond
Title:    Director

BANK OF AMERICA, N.A., as a Lender

By:    /s/ Michael Clayborne    
Name:    Michael Clayborne
Title:    Vice President

    
COMPASS BANK, as a Lender

By:    /s/ Les Werme    
Name:    Les Werme
Title:    Vice President

CITIBANK, N.A., as a Lender

By:    /s/ Peter Kardos    
Name:    Peter Kardos
Title:    Vice-President

COMERICA BANK, as a Lender

By:    /s/ William Robinson    
Name:    William Robinson
Title:    Vice President

ING CAPITAL LLC, as a Lender

By:    /s/ Juli Bieser    
Name:    Juli Bieser
Title:    Director

By:    /s/ Charles Hall    
Name:  Charles Hall
Title:    Managing Director

ROYAL BANK OF CANADA, as a Lender

By:    /s/ Mark Lumpkin, Jr.    
Name:    Mark Lumpkin, Jr.
Title:    Authorized Signatory

REGIONS BANK, as a Lender

By:    /s/ Kelly L. Elmore III    
Name:    Kelly L. Elmore III
Title:    Senior Vice President

THE BANK OF NOVA SCOTIA, as a Lender

By:    /s/ Terry Donovan    
Name:    Terry Donovan
Title:    Managing Director

UBS AG, STAMFORD BRANCH, as a Lender

By:    /s/ Lana Gifas    
Name:    Lana Gifas
Title:    Director

By:    /s/ Jennifer Anderson    
Name:    Jennifer Anderson
Title:    Associate Director

CAPITAL ONE, N.A., as a Lender

By:    /s/ Matthew L. Molero    
Name:    Matthew L. Molero
Title:    Sr. Vice President

U.S. BANK NATIONAL ASSOCIATION, as a Lender

By:    /s/ Justin M. Alexander    
Name:    Justin M. Alexander
Title:    Senior Vice President

GOLDMAN SACHS LENDING PARTNERS LLC, as a Lender

By:    /s/ Michelle Latzoni    
Name:    Michelle Latzoni
Title:    Authorized Signatory

WHITNEY BANK, as a Lender

By:    /s/ Parker U. Mears    
Name:    Parker U. Mears
Title:    Vice President

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