Document:

EX-10.5

 Exhibit 10.5 

FORM OF ATLAS ENERGY GROUP, LLC 

2015 LONG-TERM INCENTIVE PLAN 

Section 1. Purpose of the Plan 
 The
Atlas Energy Group, LLC 2015 Long-Term Incentive Plan (the “Plan”) is intended to promote the interests of Atlas Energy Group, LLC, a Delaware limited liability company (the
“Company”), by providing to officers, employees, and managing board members of the Company and its Affiliates, and consultants, and joint venture partners who perform services for the Company and its Affiliates, incentive awards for
superior performance that are based on common units of the Company (“Units”). It is also contemplated that the Plan will enhance the ability of the Company and its Affiliates to attract and retain the services of individuals who are
essential for the growth and profitability of the Company and to encourage them to devote their best efforts to the business of the Company, thereby advancing the interests of the Company. 

Section 2. Definitions 
 As used in
the Plan, the following terms shall have the meanings set forth below: 
 “Affiliate” means, with respect to any Person,
any other Person that directly or indirectly through one or more intermediaries controls, is controlled by, or is under common control with, the Person in question. As used herein, the term “control” means the possession, direct or
indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities, by contract, or otherwise. 

“Award” means an Option, Phantom Unit, or Restricted Unit granted under the Plan, and shall include any tandem DERs granted
with respect to a Phantom Unit. 
 “Award Agreement” means a written (or electronic) agreement setting forth the terms and
conditions of a specific Award. 
 “Board” means the board of directors of the Company. 

“Cause” means Cause (or a term of similar import) as defined in the employment, consulting, or similar agreement to
which a Participant is party, or, if there is no such agreement, “Cause” means the Participant’s: (a) commission of a felony or a crime of moral turpitude; (b) commission of any act of malfeasance or wrongdoing against the
Company or any Affiliate; (c) a material breach of the Company’s or any Affiliate’s applicable policies or procedures; (d) willful and continued failure to perform the Participant’s material duties; (e) willful
misconduct that causes material harm to the Company or any Affiliate or their respective business reputations, including due to any adverse publicity; or (f) material breach of the Participant’s obligations under any agreement (including
any covenant not to compete) entered into between the Participant and the Company or any Affiliate. Notwithstanding Section 3(a) of the Plan, following a Change in Control, any determination by the Committee as to whether “Cause”
exists shall be subject to de novo review. 

 “Change in Control” means the occurrence of any of the following: 

(a) a merger, consolidation, share exchange, division, or other reorganization or transaction of the Company with any entity, other than such
a transaction that would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) at least 60%
of the combined voting power immediately after such transaction of the surviving entity’s outstanding securities or, in the case of a division, the outstanding securities of each entity resulting from the division; 

(b) the equity holders of the Company approve a plan of complete liquidation or winding-up of the Company; 

(c) a sale or disposition (in one transaction or a series of transactions) of all or substantially all of the assets of the Company; 

(d) during any period of 24 consecutive months, individuals who at the beginning of such period constituted the Board (including for this
purpose any new director whose election or nomination for election or appointment was approved by a vote of at least 2/3 of the directors then still in office who were directors at the beginning of such period) cease for any reason to constitute at
least a majority of the Board; or 
 (e) any other sale of assets or restructuring transaction that has the effect of the enumerated
transactions or events described in any of clauses (a) through (d) above. 
 Notwithstanding the foregoing, with respect to any Award that is
subject to Section 409A of the Code, Change in Control shall mean a “change of control event,” as defined in the regulations and guidance issued under Section 409A of the Code. In addition, notwithstanding the foregoing, the
Committee may specify a more limited definition of Change in Control for a particular Award, as the Committee deems appropriate. 

“Code” means the Internal Revenue Code of 1986, as amended, or any successor thereto, and the regulations promulgated
thereunder. 
 “Committee” means the Board or such committee of the Board or the board (or committee of the board) of an
Affiliate of the Company appointed by the Board to administer the Plan. 
 “DER” means a right, granted in tandem with a
specific Phantom Unit, to receive an amount in cash, securities, or property equal to, and at the same time as, the cash distributions or other distributions of securities or property made by the Company with respect to a Unit during the period such
Phantom Unit is outstanding. 
 “Director” means a “non-employee director” of the Company as defined in
Rule 16b-3 under the Exchange Act. 
 “Disability” means, unless provided otherwise in an Award Agreement,
(a) “Disability” as defined in any individual employment agreement to which the Participant is a party, or (b) if there is no such individual employment agreement or it does not define “Disability,” either (i) a
“permanent and total disability” as defined in Section 22(e)(3) of the Code or (ii) the 

  
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Participant’s being approved to receive payments under the United States Social Security Disability Insurance Program. Notwithstanding the above, with respect to any Award, to the extent
necessary to avoid accelerated taxation or tax penalties under Section 409A of the Code, Disability shall mean “disability” within the meaning of Section 409A of the Code. 

“Employee” means any officer or employee of the Company, its Affiliates, consultants or joint venture partners who performs
services for the Company or an Affiliate of the Company or in furtherance of the Company’s business. 
 “Exchange Act”
means the Securities Exchange Act of 1934, as amended. 
 “Fair Market Value” means the closing sales price of a Unit on
the applicable date (or, if there is no trading in the Units on such date, the closing sales price on the last date Units were traded). In the event Units are not publicly traded at the time a determination of fair market value is required to be
made hereunder, the determination of fair market value shall be made in good faith by the Committee in a manner which, if necessary to avoid accelerated taxation or tax penalties pursuant to Section 409A of the Code, meets the requirements of
Section 409A of the Code. 
 “Option” means an option to purchase Units granted under the Plan. 

“Participant” means any Employee or Director granted an Award under the Plan. 

“Person” means an individual or a corporation, limited liability company, partnership, joint venture, trust, unincorporated
organization, association, government agency, or political subdivision thereof or other entity. 
 “Phantom Unit” means a
phantom (notional) unit granted under the Plan that, upon vesting, entitles the Participant to receive a Unit or its then-Fair Market Value in cash or other securities or property, as determined by the Committee. 

“Restricted Period” means the period established by the Committee with respect to an Award during which the Award remains
subject to forfeiture or is not exercisable by the Participant. 
 “Restricted Unit” means an Award granted under
Section 6(c). 
 “Retirement” means a Participant’s termination of employment with or service to the Company and
its Affiliates after the attainment of age 65 or the attainment of age 55 and at least 15 years of employment and service. 

“Rule 16b-3” means Rule 16b-3 promulgated by the SEC under the Exchange
Act, or any successor rule or regulation thereto as in effect from time to time. 
 “SEC” means the Securities and Exchange
Commission, or any successor thereto. 
 “Securities Act” means the Securities Act of 1933, as amended. 

  
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 Section 3. Administration 

(a) General Authority and Determinations. The Plan shall be administered by the Committee. A majority of the Committee shall constitute
a quorum, and the acts of a majority of the members of the Committee who are present at any meeting thereof at which a quorum is present, or acts unanimously approved by the members of the Committee in writing, shall be the acts of the Committee.
Subject to the following and any applicable law, the Committee, in its sole discretion, may delegate any or all of its powers and duties under the Plan, including the power to grant Awards under the Plan, to the Chief Executive Officer of the
Company, subject to such limitations on such delegated powers and duties as the Committee may impose, if any; provided, however, that such delegation shall not limit the Chief Executive Officer’s right to receive Awards under the
Plan, and the Chief Executive Officer may not grant Awards to, or take any action with respect to any Award previously granted to, himself or a Person who is an Employee or Director subject to Rule 16b-3. Subject to the terms of the Plan and
applicable law, and in addition to other express powers and authorizations conferred on the Committee by the Plan, the Committee shall have full power and authority to: (i) designate Participants; (ii) determine the type or types of Awards
to be granted to a Participant; (iii) determine the terms and conditions of any Award; (iv) determine whether, to what extent, and under what circumstances Awards may be settled, exercised, cancelled, or forfeited; (v) interpret and
administer the Plan and any instrument or agreement relating to an Award made under the Plan; (vi) establish, amend, suspend, or waive such rules and regulations and appoint such agents as it shall deem appropriate for the proper administration
of the Plan; (vii) accelerate the vesting or lapse of restrictions of any outstanding Award, in each case, based on such considerations as the Committee in its sole discretion determines; and (viii) make any other determination and take
any other action that the Committee deems necessary or desirable for the administration of the Plan. The Committee shall have full power and express discretionary authority to make factual determinations and to adopt or amend such rules,
regulations, agreements, and instruments for implementing the Plan and for the conduct of its business as it deems necessary or advisable, in its sole discretion. Unless otherwise expressly provided in the Plan, all designations, determinations,
interpretations, and other decisions under or with respect to the Plan or any Award shall be within the sole discretion of the Committee, may be made at any time and shall be final, conclusive, and binding upon all Persons, including the Company,
any Affiliate, any Participant, and any beneficiary of any Award. All powers of the Committee shall be executed in the best interests of the Company, not as a fiduciary, in keeping with the objectives of the Plan, and need not be uniform as to
similarly situated Participants. 
 (b) Award Agreements. All Awards under the Plan shall be made conditional on the
Participant’s entering into an Award Agreement, and a Participant shall have no rights under the Plan until an Award Agreement is entered into by the Participant and the Company. The terms and conditions of each Award, as determined by the
Committee, shall be set forth in an Award Agreement, which shall be delivered to the Participant receiving such Award upon, or as promptly as is reasonably practicable following, the grant of such Award. All Awards under the Plan shall be made
conditional upon the Participant’s acknowledgement, in writing or electronically, or by acceptance of the Award, that all decisions and determinations of the Committee shall be final, conclusive, and binding on the Participant, his or her
beneficiaries, and any other person having or claiming an interest in such Award. Awards made under a particular Section of the Plan need not be uniform as among Participants. 

  
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 Section 4. Units 

(a) Units Available. Subject to adjustment as provided in Section 4(c), the number of Units with respect to which Phantom Units,
Options, and Restricted Units may be granted under the Plan is 10,500,000. If any Option, Phantom Unit, or Restricted Unit is forfeited or otherwise terminates or is cancelled or paid without the delivery of Units, then the Units covered by such
Award, to the extent of such forfeiture, termination, payment, or cancellation, shall again be Units with respect to which Awards may be granted. Units surrendered in payment of the Exercise Price of an Option, and Units withheld or surrendered for
payment of taxes, shall not be available for re-issuance under the Plan. 
 (b) Sources of Units Deliverable under Awards. Any Units
delivered pursuant to an Award shall consist, in whole or in part, of Units newly issued by the Company, Units acquired in the open market or from any Affiliate of the Company, or any other Person, or any combination of the foregoing, as determined
by the Committee in its discretion. 
 (c) Adjustments. In the event that any distribution (whether in the form of cash, Units, other
securities, or other property), recapitalization, split, reverse split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Units or other securities of the Company, issuance of warrants or other rights
to purchase Units or other securities of the Company, or other similar transaction or event affects the Units such that an adjustment is necessary in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made
available under the Plan, then the Committee shall equitably adjust (i) the number and type of Units (or other securities or property) with respect to which Awards may be granted, (ii) the number and type of Units (or other securities or
property, including cash) subject to outstanding Awards, and (iii) the grant or exercise price with respect to any Award; provided, however, that the number of Units subject to any Award shall always be a whole number. The
Committee may make provision for a cash payment to the holder of an outstanding Award in connection with any event listed in this Section 4(c). 

Section 5. Eligibility 
 Any Employee
or Director shall be eligible to be designated a Participant and receive an Award under the Plan. 
 Section 6. Awards 

(a) Options. The Committee shall have the authority to determine the Employees and Directors to whom Options shall be granted, the
number of Units to be covered by each Option, the exercise price therefor, the Restricted Period and the conditions and limitations applicable to the exercise of the Option, as the Committee shall determine, that are not inconsistent with the
provisions of the Plan. 
 (i) Exercise Price. The exercise price per Unit purchasable under an Option shall be
determined by the Committee at the time the Option is granted and may not be less than Fair Market Value as of the date of grant. In no event may any Option granted under this Plan be amended, other than pursuant to Section 7(c), to decrease
the exercise price thereof, be cancelled in conjunction with the grant of any new Option with a lower 

  
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exercise price, or otherwise be subject to any action that would be treated, under the listing standards of the principal securities exchange on which the Units are traded or for accounting
purposes, as a “repricing” of such Option, unless such amendment, cancellation, or action is approved by the Company’s unitholders. 

(ii) Restrictions on Exercise and Method of Exercise. The Committee shall determine the Restricted Period and the method
or methods by which payment of the exercise price may be made or deemed to have been made, which may include, without limitation, cash, check acceptable to the Board, a tender of Units by the Participant having a Fair Market Value on the date of
exercise equal to the exercise price, a “cashless” broker-assisted exercise in accordance with procedures permitted by Regulation T of the Federal Reserve Board, or through procedures approved by the Board, a recourse note from the
Participant in a form acceptable to the Board and which does not violate the Sarbanes-Oxley Act of 2002, a “net exercise” that permits the Company to withhold a number of Units that otherwise would be issued to the Participant pursuant to
the exercise of the Option having a Fair Market Value on the date of exercise equal to the exercise price, or any combination thereof. 
 (b)
Phantom Units. The Committee shall have the authority to determine the Employees and Directors to whom Phantom Units shall be granted, the number of Phantom Units to be granted to each such Participant, the Restricted Period, the conditions
under which the Phantom Units may become vested or forfeited, whether DERs are granted with respect to an Award of Phantom Units, and such other terms and conditions, as the Committee may determine, that are not inconsistent with the provisions of
the Plan. 
 (i) Payment. Payment with respect to Phantom Units shall be made in cash, in Units, or in a combination
of cash and Units, as determined by the Committee. The Award Agreement shall specify the maximum number of Units that can be issued pursuant to the Award of Phantom Units. 

(ii) DERs. The Committee may grant DERs in connection with an Award of Phantom Units, under such terms and conditions as
the Committee deems appropriate. DERs may be paid to Participants currently or may be deferred, as reflected in the applicable Award Agreement. All DERs that are not paid currently shall be credited to bookkeeping accounts on the Company’s
records for purposes of the Plan. DERs may be accrued as a cash obligation or may be converted to additional Phantom Units for the Participant, and deferred DERs may accrue interest, in each case, as determined by the Committee. The Committee may
provide that DERs shall be payable based on the achievement of specific performance goals. DERs may be payable in cash or Units or in a combination of cash and Units, as determined by the Committee. 

(c) Restricted Units. Restricted Units are actual Units issued to a Participant that are subject to vesting restrictions and evidenced
in such manner as the Committee may deem appropriate, including book-entry registration or issuance of one or more unit certificates. Any certificate issued in respect of Restricted Units shall be registered in the name of the applicable Participant
and shall bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Restricted Units. The Committee may require that the certificates 

  
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evidencing such Units be held in custody by the Company until the restrictions thereon shall have lapsed and that, as a condition of any Award of Restricted Units, the applicable Participant
shall have endorsed the certificates in blank, relating to the Units covered by such Award. 
 (i) Terms and
Conditions. Restricted Units shall be subject to the following terms and conditions: 
 (A) The Committee shall have the authority to
determine the Employees and Directors to whom Restricted Units shall be granted, the number of Units to be granted to each such Participant, the Restricted Period, the conditions under which the Restricted Units may become vested or forfeited, and
such other terms and conditions, as the Committee may determine, that are not inconsistent with the provisions of the Plan. The conditions for grant, vesting, or transferability and the other provisions of Restricted Units (including without
limitation any performance goals) need not be the same with respect to each Participant. The Committee may at any time, in its sole discretion, accelerate or waive, in whole or in part, any of the foregoing restrictions. 

(B) Subject to the provisions of the Plan and the applicable Award Agreement, during the Restricted Period, the Participant shall not be
permitted to sell, assign, transfer, pledge, or otherwise encumber Restricted Units. 
 (C) Except as provided in this Section 6 and
in an applicable Award Agreement, the applicable Participant shall have, with respect to the Restricted Units, all of the rights of holders of Units, including the right to vote the Units. If so determined by the Committee in the applicable Award
Agreement, (1) cash dividends on the Units that are the subject of the Restricted Unit Award shall be either paid in cash or automatically deferred and/or reinvested in additional Restricted Units and held subject to the vesting of the
underlying Restricted Units, and (2) subject to any adjustment pursuant to the terms of Section 4(c) of the Plan, dividends payable in Units shall be paid in the form of Restricted Units of the same class as the Units with which such
dividend was paid, held subject to the vesting of the underlying Restricted Units. 
 (D) If and when the applicable performance goals, if
any, are determined by the Committee to be satisfied and the Restricted Period expires without a prior forfeiture of the Restricted Units for which legended certificates have been issued, unlegended certificates for such Units shall be delivered to
the Participant upon surrender of the legended certificates. 
 (d) General. 

(i) Forfeiture. Except as otherwise provided in the terms of an Award Agreement, upon termination of a
Participant’s employment with the Company or its Affiliates or membership on the Board during the applicable Restricted Period, all unvested Options, Phantom Units, and Restricted Units shall be forfeited by the Participant; provided,
however, that if the reason for the termination is the Participant’s death or Disability, all Options awarded to the Participant shall become exercisable and all Phantom Units and Restricted Units shall vest automatically. The Committee
may, in its discretion, waive in whole or in part any forfeiture. 

  
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 (ii) Awards May Be Granted Separately or Together. Awards may, in the
discretion of the Committee, be granted either alone or in addition to, in tandem with, or in substitution for, any other Award granted under the Plan or any award granted under any other plan of the Company or any Affiliate. 

(iii) Limits on Transfer of Awards. 

(A) Except as provided in Section 6(d)(iii)(C), each Option shall be exercisable only by the Participant during the Participant’s
lifetime, or by the person to whom the Participant’s rights shall pass by will or the laws of descent and distribution. 
 (B) Except
as provided in Section 6(d)(iii)(C), no Award and no right under any such Award may be assigned, alienated, pledged, attached, sold, or otherwise transferred or encumbered by a Participant and any such purported assignment, alienation, pledge,
attachment, sale, transfer, or encumbrance shall be void and unenforceable against the Company or any Affiliate thereof. 
 (C) To the
extent specifically provided by the Committee with respect to an Option grant, an Option may be transferred by a Participant without consideration to immediate family members or related family trusts, limited partnerships, or similar entities or on
such terms and conditions as the Committee may from time to time establish. In addition, Awards may be transferred by will and the laws of descent and distribution. 

(iv) Unit Certificates. All certificates for Units or other securities of the Company delivered under the Plan pursuant
to any Award or the exercise thereof shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the Plan or the rules, regulations, and other requirements of the SEC, any stock exchange upon which
such Units or other securities of the Company are then listed, and any applicable federal or state laws, and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions. 

(v) Delivery of Units or Other Securities and Payment by Participant of Consideration. Notwithstanding anything in the
Plan or any grant agreement to the contrary, delivery of Units pursuant to the exercise or vesting of an Award may be deferred for any period during which, in the good faith determination of the Committee, the Company is not reasonably able to
obtain or issue Units pursuant to such Award without violating the rules or regulations of any applicable law or securities exchange. No Units or other securities shall be delivered pursuant to any Award until payment in full of any amount required
to be paid pursuant to the Plan or the applicable Award Agreement (including, without limitation, any exercise price or tax withholding) is received by the Company. With respect to any Award that is subject to Section 409A of the Code, any
delay under this paragraph is intended to apply only if no accelerated taxation or tax penalties under Section 409A of the Code would apply. 

  
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 (vi) Rule 16b-3. It is intended that the Plan and any Award made to a
Participant subject to Section 16 of the Exchange Act meet all of the requirements of Rule 16b-3. If any provision of the Plan or any such Award would disqualify the Plan or such Award under, or would otherwise not comply with,
Rule 16b-3, such provision or Award shall be construed or deemed amended to conform to Rule 16b-3. 
 (vii)
Status of Original Issue Units. The Company intends, but shall not be obligated, to register for sale under the Securities Act the Units acquirable pursuant to Awards, and to keep such registration effective throughout the period any Awards
are in effect. In the absence of such effective registration or an available exemption from registration under the Securities Act, delivery of Units acquirable pursuant to Awards shall be delayed until registration of such Units is effective or an
exemption from registration under the Securities Act is available. In the event exemption from registration under the Securities Act is available, a Participant (or a Participant’s estate or personal representative in the event of the
Participant’s death or incapacity), if requested by the Company to do so, will execute and deliver to the Company in writing an agreement containing such provisions as the Company may require to assure compliance with applicable securities
laws. No sale or disposition of Units acquired pursuant to an Award by a Participant shall be made in the absence of an effective registration statement under the Securities Act with respect to such Units unless an opinion of counsel satisfactory to
the Company that such sale or disposition will not constitute a violation of the Securities Act or any other applicable securities laws is first obtained. With respect to any Award that is subject to Section 409A of the Code, any delay under
this paragraph is intended to apply only if no accelerated taxation or tax penalties under Section 409A of the Code would apply. 

(viii) Change in Control. 

(A) General Authority. In connection with any Change in Control, the Committee may, in its sole and absolute discretion and authority
and without obtaining the approval or consent of the Company’s unitholders or any Participant with respect to such Participant’s outstanding Awards, subject to the terms of any Award Agreements or employment agreements between the Company
or any Affiliate and any Participant, take one or more of the following actions (with respect to any or all of the Awards, and with discretion to differentiate between individual Participants and Awards for any reason): 

(1) Cause Awards to be assumed or a substantially equivalent award to be substituted by the surviving or successor entity or a parent,
subsidiary, or affiliate of such successor entity; 
 (2) Accelerate the vesting of Awards as of immediately prior to the consummation of the
transaction that constitutes such Change in Control so that Awards shall vest (and, to the extent applicable, become exercisable) as to the Units that otherwise would have been unvested, in a manner which allows the resulting Units to participate in
such transaction; 

  
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 (3) Arrange or otherwise provide for the payment of cash or other consideration to Participants
in exchange for the cancellation of outstanding Awards (with the Committee determining the amount payable to each Participant based on, in the case of an Award of Phantom Units or Restricted Units being cancelled, the Fair Market Value, on the date
of the Change in Control, of the Units subject to such Award and, in the case of an Award of Options, the excess, if any, of the Fair Market Value on the date of the Change in Control of the Units issuable with respect to such Options less the
aggregate exercise price of such Options); 
 (4) Terminate all or some Awards upon the consummation of the transaction that constitutes a
Change in Control, provided that the Committee shall provide for vesting of such Awards in full as of immediately prior to the consummation of the transaction that constitutes such Change in Control (to the extent that, where applicable, an
Award is not exercised prior to consummation of such a transaction in which the Award is not being assumed or substituted, such Award shall terminate upon such consummation); and 

(5) Make such other modifications, adjustments, or amendments to outstanding Awards or this Plan as the Committee deems necessary or
appropriate. 
 (B) Vesting in Connection with a Change in Control. Upon a Change in Control, all Awards held by Directors shall, to
the extent previously unvested, immediately vest in full. In the case of Participants who are Employees, upon the Participant’s termination of employment by the Company without “Cause” (as defined herein), or upon any other type of
termination specified in the applicable Award Agreement, in any case following a Change in Control, any unvested portion of an Award shall immediately vest in full and, in the case of Options, become exercisable for the one-year period following the
date of termination of employment, but in any case not later than the end of the original term of the Option. 
 Section 7. Amendment and
Termination 
 Except to the extent prohibited by applicable law: 

(a) Amendments to the Plan. Except as required by the rules of the principal securities exchange on which the Units are traded and
subject to Section 7(b), the Board or the Committee may amend, alter, suspend, discontinue, or terminate the Plan in any manner without the consent of any partner, Participant, other holder or beneficiary of an Award, or other Person. 

(b) Amendments to Awards. Subject to Section 6(d)(viii) and Section 7(c), the Committee may waive any conditions or rights
under, amend any terms of, or alter any Award theretofore granted, provided that no change to any Award, other than pursuant to Section 6(d)(viii) or Section 7(c), shall materially reduce the benefit to a Participant under such
Award without the consent of such Participant unless such change is explicitly allowed under the Plan or the applicable Award Agreements. 

(c) Adjustment of Awards upon the Occurrence of Certain Unusual or Nonrecurring Events. The Committee is hereby authorized to make
adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of unusual or nonrecurring events (including, without limitation, the events described in Section 4(c) of the Plan) affecting the Company or the
financial statements of the Company, or of changes in applicable laws, regulations, or accounting principles, whenever the Committee determines that such adjustments are appropriate in order to prevent dilution or enlargement of the benefits or
potential benefits intended to be made available under the Plan. 

  
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 Section 8. General Provisions 

(a) No Rights to Award. No Person shall have any claim to be granted any Award under the Plan, and there is no obligation for uniformity
of treatment of Participants. The terms and conditions of Awards need not be the same with respect to each Participant. 
 (b)
Withholding. All Awards under the Plan shall be subject to applicable federal (including FICA), state, and local tax withholding requirements. The Company may require that the Participant or other person receiving or exercising Awards pay to
the Company the amount of any federal, state, or local taxes that the Company is required to withhold with respect to such Awards, or the Company may deduct from other wages paid by the Company the amount of any withholding taxes due with respect to
such Awards. The Company may require forfeiture of any Award for which the Participant does not timely pay the applicable withholding taxes. If the Committee so permits, Units may be withheld to satisfy the Company’s tax withholding obligation
with respect to Awards paid in Units, at the time such Awards become subject to employment taxes and tax withholding, as applicable, up to an amount that does not exceed the minimum required withholding for federal (including FICA), state and local
tax liabilities. 
 (c) No Right to Employment. The grant of an Award shall not be construed as giving a Participant the right to be
retained in the employ of the Company or any Affiliate or to remain on the Board. Further, the Company or an Affiliate may at any time dismiss a Participant from employment, free from any liability or any claim under the Plan, unless otherwise
expressly provided in the Plan or in any Award Agreement. 
 (d) Governing Law. The validity, construction, and effect of the Plan
and any rules and regulations relating to the Plan shall be determined in accordance with the laws of the State of Delaware (without regard to any choice of law provision that might refer interpretation of the Plan to the substantive law of another
jurisdiction) and applicable federal law. 
 (e) Severability. If any provision of the Plan or any Award is or becomes or is deemed
to be invalid, illegal, or unenforceable in any jurisdiction or as to any Person or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to
the applicable laws, or if it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award, such provision shall be stricken as to such jurisdiction, Person or Award
and the remainder of the Plan and any such Award shall remain in full force and effect. 
 (f) Compliance with Other Laws. The
Committee may refuse to issue or transfer any Units or other consideration under an Award if, in its sole discretion, it determines that the issuance or transfer of such Units or such other consideration might violate any applicable law or
regulation, the rules of the principal securities exchange on which the Units are then traded, or entitle the Company or an Affiliate to recovery of “short swing profits” under Section 16(b) of the Exchange Act, and any payment
tendered to the Company by a Participant, other holder or 

  
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beneficiary in connection with the exercise of such Award, shall be promptly refunded to the relevant Participant, holder, or beneficiary. It is intended that, to the extent applicable, Awards
made under the Plan comply with the requirements of Section 409A of the Code and the regulations thereunder so as to avoid any accelerated income tax or tax penalty imposed under Section 409A of the Code, and the Plan and Award Agreements
shall be interpreted consistently with this intent. 
 (g) No Trust or Fund Created. Neither the Plan nor any Award shall create or
be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company or any participating Affiliate and a Participant or any other Person. 

(h) No Fractional Units. No fractional Units shall be issued or delivered pursuant to the Plan or any Award, and the Committee shall
determine whether cash, other securities, or other property shall be paid or transferred in lieu of any fractional Units or whether such fractional Units or any rights thereto shall be cancelled, terminated, or otherwise eliminated. 

(i) Headings. Headings are given to the sections and subsections of the Plan solely as a convenience to facilitate reference. Such
headings shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision thereof. 

(j) Facility of Payment. Any amounts payable hereunder to any Person under legal disability or who, in the judgment of the Committee,
is unable to properly manage his financial affairs, may be paid to the legal representative of such Person, or may be applied for the benefit of such Person in any manner which the Committee may select, and the Company shall be relieved of any
further liability for payment of such amounts. 
 Section 9. Term of the Plan 

The Plan shall be effective on the date of its approval by the Unit holders and shall continue until the date terminated by the Board or Units
are no longer available for the grant of Awards under the Plan, whichever occurs first. However, unless otherwise expressly provided in the Plan or in an applicable Award agreement, any Award granted prior to such termination, and the authority of
the Board or the Committee to amend, alter, adjust, suspend, discontinue, or terminate any such Award or to waive any conditions or rights under such Award, shall extend beyond such termination date. 

  
 -12-EX-10.6

 Exhibit 10.6 

ATLAS ENERGY GROUP, LLC 

2015 LONG-TERM INCENTIVE PLAN 

PHANTOM UNIT GRANT AGREEMENT 

THIS PHANTOM UNIT GRANT AGREEMENT (this “Agreement”) is made as of [DATE] (the “Date of Grant”) by and
between Atlas Energy Group, LLC, a Delaware limited liability company (the “Company”), and [PARTICIPANT] (the “Participant”). 

WHEREAS, the Company’s 2015 Long-Term Incentive Plan (the “Plan”) provides
for the grant of phantom units in accordance with the terms and conditions of the Plan; 
 WHEREAS, the Committee has determined that it
would be in the best interest of the Company to grant the phantom units described herein on the terms and conditions hereinafter set forth; and 

WHEREAS, capitalized terms used herein and not otherwise defined herein shall have the respective meanings ascribed thereto in the Plan. 

NOW, THEREFORE, the parties hereto, intending to be legally bound hereby, agree as follows: 

 

	 	1.	Grant of Phantom Units. 

 Subject to the terms and conditions set forth in this Agreement
and the Plan, the Company hereby grants to the Participant [NUMBER] phantom units, subject to the restrictions set forth below and in the Plan (the “Phantom Units”). 

 

	 	2.	Phantom Unit Account. 

 Phantom Units represent hypothetical common units of the Company
(“Units”), and not actual Units. The Company shall establish and maintain a Phantom Unit account, as a bookkeeping account on its records (the “Phantom Unit Account”), for the Participant and shall record in such
account the number of Phantom Units granted to the Participant. No Units shall be issued to the Participant at the time the grant is made, and the Participant shall not be, nor have any of the rights or privileges of, a unitholder of the Company
with respect to any Phantom Units recorded in the account. The Participant shall not have any interest in any fund or specific assets of the Company by reason of this grant or the Phantom Unit Account established for the Participant. 

	 	3.	Vesting. 

 Except as otherwise provided in Sections 4(b) and 7, the Participant will
become vested in the Phantom Units awarded pursuant to this Agreement and credited to the Participant’s Phantom Unit Account according to the following vesting schedule, provided the Participant continues to be employed by, or provide
service to, the Company or one of its Affiliates (collectively, “Atlas”) on the applicable vesting date (the “Vesting Date”): 
  

					
	 Vesting Date
	  	Vested
Phantom
Units	 
	 [VESTING SCHEDULE
	  	 	]	  

 The vesting of the Phantom Units shall be cumulative, but shall not exceed 100% of the Phantom Units. If the foregoing
schedule would produce fractional Phantom Units, the number of Phantom Units that vest shall be rounded down to the nearest whole Phantom Unit. 
  

	 	4.	Termination of Phantom Units. 

 (a) Except as provided in Section 4(b), upon the
Participant’s termination of employment with or service to Atlas (“Termination of Service”) for any reason prior to the Vesting Date for any portion of the Phantom Units, the Phantom Units credited to the Participant’s
Phantom Unit Account that have not vested as of such Vesting Date shall terminate and the corresponding Units shall be forfeited as of the termination date. 

(b) Notwithstanding Section 4(a), upon the Participant’s Termination of Service by reason of death or Disability, any unvested
Phantom Units shall immediately vest. 
  

	 	5.	Settlement of Phantom Units. 

 (a) If and when the Phantom Units vest, within
30 days after the vesting date the Company shall issue to the Participant one Unit for each vested Phantom Unit, subject to the Participant’s payment to the Company of income tax withholding and employment taxes, to the extent determined
by the Company to be required to be withheld, as described below (“Tax Withholding”). 
 (b) The settlement of Phantom
Units under this Agreement and the payment of cash with respect to DERs may be subject to Tax Withholding, in accordance with Section 8(b) of the Plan. Unless the Committee determines otherwise, the Participant or other person entitled to
receive Units under this Agreement in settlement of Phantom Units or the payment of cash with respect to DERs shall be required to pay to Atlas the amount of any Tax Withholding with respect to the Phantom Units or DERs. Atlas, in its sole
discretion, may also deduct from any compensation or other amounts owing to the Participant, including by payroll deduction or withholding of Units, the amount of any applicable Tax Withholding with respect to the Phantom Units or DERs. If the
Committee determines that Units may be used to satisfy Tax Withholding, such Units shall be valued based on their Fair Market Value at the time the Tax 

  
 2 

 
Withholding is required to be made; provided, however, that not more than the legally required minimum Tax Withholding amount may be settled by Unit withholding. If the Participant
fails to pay any Tax Withholding in the manner and at the time specified by Atlas or its agent, after receiving written notice from Atlas or its agent, Atlas is authorized in its sole discretion to cancel such Phantom Units or DERs, as applicable,
in which case the Phantom Units or DERs, as applicable, shall be forfeited and shall not be paid to the Participant. 
 (c) The obligation
of the Company to deliver Units shall also be subject to the condition that, if at any time, the Committee shall determine in its discretion that the listing, registration, or qualification of the Units upon any securities exchange or under any
state or federal law, or the consent or approval of any governmental regulatory body is necessary or desirable as a condition of, or in connection with, the issuance of the Units, the Units may not be issued in whole or in part unless such listing,
registration, qualification, consent, or approval shall have been effected or obtained free of any conditions not acceptable to the Committee. The issuance of Units to the Participant pursuant to this Agreement is subject to any applicable taxes and
other laws or regulations of the United States or of any state having jurisdiction thereof. 
 (d) The Participant understands and agrees
that the sale of any Units received by the Participant in settlement of the Phantom Units will be subject to, and must comply with, the Company’s Insider Trading Policy. 
  

	 	6.	DERs. 

 Until such time as the Phantom Units are paid or forfeited, if a cash
distribution is paid by the Company on its Units, a DER will be paid to the Participant equal to the value of the cash payment that would have been paid if such Phantom Units credited to the Participant’s Phantom Unit Account at the time of the
declaration of the cash payment had been Units. The DERs shall be paid to the Participant on the date on which the distribution is paid by the Company on Units. 
  

	 	7.	Change in Control. 

 The provisions of the Plan applicable to a Change in Control shall
apply to the Phantom Units, and, in the event of a Change in Control, the Committee may take such actions as it deems appropriate pursuant to the Plan. 
  

	 	8.	Acknowledgment by Participant. 

 By executing this Agreement, the Participant hereby
acknowledges that with respect to any right granted to the Participant pursuant to this Agreement, the Participant is and shall be an unsecured creditor of the Company without any preference as against other unsecured general creditors of the
Company, and the Participant hereby covenants for himself or herself, and anyone at any time claiming through or under the Participant, not to claim any such preference, and hereby disclaims and waives any such preference that may at any time be at
issue, to the fullest extent permitted by applicable law. 

  
 3 

	 	9.	Grant Subject to Plan Provisions. 

 This grant is made pursuant to the Plan, the terms of
which are incorporated herein by reference, and in all respects shall be interpreted in accordance with the Plan. This grant is subject to the interpretations, regulations, and determinations concerning the Plan established from time to time by the
Committee in accordance with the provisions of the Plan, including, but not limited to, provisions pertaining to (a) the registration, qualification, or listing of the Units, (b) changes in capitalization of the Company, and (c) other
requirements of applicable law. The Committee shall have the authority to interpret and construe this Agreement pursuant to the terms of the Plan, and its decisions shall be conclusive as to any questions arising hereunder. By receiving this grant,
the Participant hereby agrees to be bound by the terms and conditions of the Plan and this Agreement. The Participant further agrees to be bound by the determinations and decisions of the Committee with respect to this Agreement and the Plan and the
Participant’s rights to benefits under this Agreement and the Plan and agrees that all such determinations and decisions of the Committee shall be binding on the Participant, his or her beneficiaries, and any other person having or claiming an
interest under this Agreement and the Plan on behalf of the Participant. 
  

	 	10.	Restrictive Covenants. 

 If the Participant is subject to an existing or future
employment or services agreement with Atlas (an “Employment Agreement”) that addresses the subject matter of this Section 10, then such Employment Agreement shall supersede this Section 10. If the Participant is not
subject to an Employment Agreement, then as a condition of this grant, the Participant agrees as follows: 
 (a) The Participant agrees, at
all times, to hold in strict confidence all Confidential Information (as defined below) and never, during the course of the Participant’s employment with or service to Atlas or thereafter, to make any use of such information except as (and
then, only to the extent) required to perform the Participant’s duties. The restrictions of this Section 10(a) shall not apply to information or data that the Participant can establish is or has become known to the public generally through
no fault of the Participant or has come into the Participant’s possession lawfully and not through the Participant’s employment or service, as the case may be. 

(i) For purposes of this Agreement, “Confidential Information” means all commercially sensitive information and data, in
whatever format, originated by, or on behalf of, or within the knowledge or possession of, Atlas, or any independent contractor performing services on behalf of Atlas. Without limiting the foregoing, Confidential Information includes, but is not
limited to, information that has been designated as proprietary or confidential; information constituting trade secrets; information that, by the nature of the surrounding circumstances, should be treated as proprietary or confidential; and
information or data conceived, discovered, or developed in whole or in part by the Participant while employed by or providing services to Atlas. 

  
 4 

 (ii) The Participant acknowledges that the Participant’s relationship with Atlas is one of
confidence and trust such that the Participant has in the past been, and may in the future be, privy to Confidential Information of Atlas. 

(b) The Participant agrees that during the Participant’s employment with or provision of services to Atlas and for a period of 12
months following the Participant’s Termination of Service, regardless of the reason for such termination: 
 (i) The Participant
will not, directly or indirectly, solicit, or attempt to solicit, for employment, with the Participant or with any other person or entity, any employee, consultant, and/or other independent contractor of Atlas, nor will the Participant, directly or
indirectly, solicit or induce, or attempt to solicit or induce, any such individual to leave his or her employment with Atlas or to terminate his or her agreement to provide services to Atlas. 

(ii) The Participant will not, directly or indirectly, solicit, or attempt to solicit, any lease or other interest in oil and gas or real
property benefitting oil and gas operations for the Participant, or for any other person or entity, from any lessor and/or transferor of oil and gas rights (or holder of any right of way) or prospective lessor and/or transferor of such rights of
Atlas with which/whom the Participant had contact within the 12 months prior to the Participant’s Termination of Service with Atlas or concerning which the Participant had access to Confidential Information, during and by virtue of the
Participant’s employment with or service to Atlas. 
 (c) The Participant acknowledges and agrees that the restrictions contained in
this Section 10 are reasonable and necessary to protect the legitimate business interests of Atlas and that the Company would not have entered into this Agreement in the absence of such restrictions. 

(d) The Participant acknowledges and agrees that any breach by the Participant of any of the covenants or agreements contained in this
Section 10 will result in irreparable injury to Atlas, for which Atlas may be entitled to any remedy at law or equity, including specific performance of the Participant’s obligations under this Section 10, as well as injunctive relief
without the posting of any bond, such as may be granted by a court of competent jurisdiction. 
 (e) In addition to the foregoing remedies,
the Participant agrees that if the Participant breaches any of the covenants or agreements contained in this Section 10: 
 (i) The
Committee may cause the Participant’s unvested Phantom Units to be cancelled and forfeited without payment by the Company; and 
 (ii)
The Committee may require that the Participant return to the Company any Units issued to the Participant (or the Fair Market Value of such Units) in settlement of Phantom Units pursuant to this Agreement at such date and on such terms and conditions
as the Committee deems appropriate. Atlas must exercise the right of recoupment provided in this Section 10(e)(ii) within two years after the Committee’s first having knowledge of Participant’s breach of any of the covenants or
agreements contained in this Section 10, and the Company shall be entitled to set off against the amount of any such recoupable amount any amounts owed to the Participant by Atlas. 

  
 5 

 (f) If any provision of this Section 10 or the application hereof is determined by any court
of competent jurisdiction to be invalid or unenforceable, the other portions of this Section 10 or the application thereof shall not be affected and shall be given full force and effect without regard to the invalid or unenforceable portions to
the fullest extent possible. If any court of competent jurisdiction determines that any provision of this Section 10 is unenforceable, then the Participant agrees to the reformation of any such covenant or agreement by the court to limits that
such court finds to be enforceable. 
 (g) The provisions of this Section 10 shall survive the termination of this Agreement and
termination of the Participant’s Termination of Service. 
  

	 	11.	Adjustment of and Changes in Units of the Company. 

 The Phantom Units shall be subject
to adjustment by the Committee in connection with a transaction or event as provided for in Section 4(a) of the Plan. 
  

	 	12.	No Employment or Other Rights. 

 The grant of Phantom Units hereunder shall not confer
upon the Participant any right to be retained by or in the employ or service of Atlas and shall not interfere in any way with the right of Atlas to terminate the Participant’s employment or service at any time. The right of Atlas to terminate
at will the Participant’s employment or service pursuant to or in the absence of a contract at any time for any reason is specifically reserved. 
  

	 	13.	No Unitholder Rights. 

 Neither the Participant, nor any person entitled to receive Units
hereunder in the event of the Participant’s death, shall have any of the rights and privileges of a unitholder until the Units have been issued to the Participant in settlement of the Phantom Units. 

 

	 	14.	Assignment and Transfers. 

 Except as the Committee may otherwise permit pursuant to the
Plan, the rights and interests of the Participant under this Agreement may not be sold, assigned, encumbered, or otherwise transferred except, in the event of the death of the Participant, by will or by the laws of descent and distribution. In the
event of any attempt by the Participant to alienate, assign, pledge, hypothecate, or otherwise dispose of the Phantom Units or any right hereunder, except as provided for in this Agreement, or in the event of the levy or any attachment, execution,
or similar process upon the rights or interests hereby conferred, the Committee may terminate the Phantom Units by notice to the Participant, and the Phantom Units and all rights hereunder shall thereupon become null and void. The rights and
protections of Atlas hereunder shall extend to any successors or assigns of Atlas. This Agreement may be assigned to a third party by the Company without the Participant’s consent. 

  
 6 

	 	15.	Applicable Policies. 

 The grant made pursuant to this Agreement shall be subject to any
applicable clawback and other policies established by the Board or the Committee from time to time, or as otherwise provided by law. 
  

	 	16.	Governing Law. 

 The validity, construction, interpretation, and effect of this Agreement
shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to the conflicts of laws provisions thereof, except that Section 10 shall be governed by and construed in accordance with the laws of
the Commonwealth of Pennsylvania, without giving effect to the conflicts of laws provisions thereof. 
  

	 	17.	Section 409A. 

 This Agreement is intended to comply with Section 409A of the
Internal Revenue Code of 1986, as amended (the “Code”), or an exemption therefrom, and payments may only be made under this Agreement upon an event and in a manner that does not cause the imposition of tax penalties under
Section 409A of the Code. To the maximum extent permitted under Section 409A of the Code, the benefits provided under this Agreement are intended to be subject to a “substantial risk of forfeiture” under Section 409A of the
Code, and will be paid within the “short term deferral period” following the lapse of the applicable forfeiture conditions. In no event may the Participant, directly or indirectly, designate the calendar year of a payment. Notwithstanding
anything in this Agreement to the contrary, if and to the extent necessary to avoid the imposition of tax penalties under Section 409A of the Code, if the Participant is considered a “specified employee” for purposes of
Section 409A of the Code, payment of amounts under this Agreement shall be delayed for a period of six months after the Participant’s separation from service, and the delayed amounts shall be paid in a lump sum payment within ten days
after the end of the six-month postponement period. Notwithstanding the preceding sentence, if the Participant dies during the six-month delay period prior to the payment of benefits, the payments delayed on account of Section 409A of the Code
shall be paid to the personal representative of the Participant’s estate within 60 days after the date of the Participant’s death. 
  

	 	18.	Amendment. 

 This Agreement may be amended by the Board or the Committee at any time,
subject to the provisions of Section 7(b) of the Plan. Notwithstanding anything herein to the contrary, to the extent that Participant is subject to an agreement that is inconsistent herewith, such agreement shall prevail as long as it does not
violate the Plan. 
  

	 	19.	Notice. 

 Any notice to the Company provided for in this Agreement shall be addressed to
the Company in care of its Chief Legal Officer at its executive offices at 1845 Walnut Street, 10th Floor, Philadelphia, Pennsylvania 19103 or at such other address as to which the Company shall have notified Participant in writing, and any notice
to the Participant shall be addressed to such 

  
 7 

 
Participant at the current address shown on the payroll of Atlas, or to such other address as the Participant may designate to Atlas. Any notice shall be delivered by hand or by a recognized
courier service such as FedEx or UPS, sent by telecopy, or enclosed in a properly sealed envelope addressed as stated above, registered and deposited, postage prepaid, in a post office regularly maintained by the United States Postal Service. 

[Signature Page Follows] 

  
 8 

 IN WITNESS WHEREOF, this Agreement has been duly executed as of the Date of Grant. 

 

			
	ATLAS ENERGY GROUP, LLC
		
	By:	 	  

	Name:	 	
	Title:	 	

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

 

			
	  
	 	  

	Date	 	[PARTICIPANT], Participant

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