Document:

EQUIPMENT
      LEASE

     

    This
      Equipment Lease (this “Lease”) is made effective as of September 15, 2004,
      between Mark Trimble (the “Lessor”), 5150 Franz Rd. Suite 100, Katy, TX 77493,
      and The Jon Ashton Corporation (the “Lessee”), 5150 Franz Rd. Suite 100, Katy,
      Tx 77493, and states the agreement of the parties as follows:

    

    EQUIPMENT
      SUBJECT TO LEASE.
      The
      Lessor shall lease the equipment listed on the attached Exhibit
“A”.

    

    PAYMENT
      TERMS. The
      Lessee shall make 36 payments of $625.00 each, for a total amount of $22,500.00.
      Payments shall be due on the fifteenth day of each month, with the first payment
      due on October 15, 2004. The lease payments shall be due whether or not the
      Lessee has received notice of a payment due.

    

    NON-SUFFICIENT
      FUNDS.
      The
      Lessee shall be charged $25.00 for each check that is returned to the Lessor
      for
      lack of sufficient funds.

    

    LEASE
      TERM.
      This
      Lease shall begin on the above effective date and shall terminate on September
      15, 2007, unless otherwise terminated in a manner consistent with the terms
      of
      this Lease.

    

    CARE
      AND OPERATION OF EQUIPMENT.
      The
      equipment may only be used and operated in a careful and proper manner. Its
      use
      must comply with all laws, ordinances, and regulations relating to the
      possession, use, or maintenance of the equipment, including registration and/or
      licensing requirements, if any.

    

    MAINTENANCE
      AND REPAIR. The
      Lessee shall maintain at the Lessee’s cost, the equipment in good repair and
      operating condition, allowing for reasonable wear and tear. Such costs shall
      include labor, material, parts, and similar items.

    

    LESSOR’S
      RIGHT OF INSPECTION.
      The
      Lessor shall have the right to inspect the equipment during Lessee’s normal
      business hours.

    

    RETURN
      OF EQUIPMENT.
      At the
      end of the Lease term, the Lessee shall be obligated to return the equipment
      to
      the Lessor at the Lessee’s expense.

    

    OPTION
      TO RENEW.
      If the
      Lessee is not in default upon the expiration of this lease, the Lessee shall
      have the option to renew this Lease for a similar term on such terms as the
      parties may agree at the time of such renewal.

    

    ACCEPTANCE
      OF EQUIPMENT.
      The
      Lessee shall inspect each item of equipment delivered pursuant to this Lease.
      The Lessee shall immediately notify the Lessor of any discrepancies between
      such
      item of equipment and the description of the equipment in the Equipment
      Schedule. If the Lessee fails to provide such notice before accepting delivery
      of the equipment, the Lessee will be conclusively presumed to have accepted
      the
      equipment as specified in the Equipment Schedule.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    OWNERSHIP
      AND STATUS OF EQUIPMENT.
      The
      equipment will be deemed to be personal property, regardless of the manner
      in
      which it may be attached to any other property. The Lessor shall be deemed
      to
      have retained title to the equipment at all times, unless the Lessor transfers
      the title by sale. The Lessee shall immediately advise the Lessor regarding
      any
      notice of any claim, levy, lien, or legal process issued against the
      equipment.

    

    RISK
      OF LOSS OR DAMAGE.
      The
      Lessee assumes all risks of loss or damage to the equipment from any cause,
      and
      agrees to return it to the Lessor in the condition received from the Lessor,
      with the exception of normal wear and tear, unless otherwise provided in this
      Lease.

    

    INDEMNITY
      OF LESSOR FOR LOSS OR DAMAGES.
      Unless
      otherwise provided in this Lease, if the equipment is damaged or lost, the
      Lessor shall have the option of requiring the Lessee to repair the equipment
      to
      a state of good working order, or replace the equipment with like equipment
      in
      good repair, which equipment shall become the property of the Lessor and subject
      to this Lease.

    

    LIABILITY
      AND INDEMNITY.
      Liability for injury, disability, and death of workers and other persons caused
      by operating, handling, or transporting the equipment during the term of this
      Lease is the obligation of the Lessee, and the Lessee shall indemnify and hold
      the Lessor harmless from and against all such liability. 

    

    CASUALTY
      INSURANCE.
      The
      Lessor shall be responsible to maintain casualty insurance with respect to
      loss
      or damage of the equipment.

    

    TAXES
      AND FEES.
      During
      the term of this Lease, the Lessee shall pay all applicable taxes, assessments,
      and license and registration fees on the equipment.

    

    DEFAULT.
      The
      occurrence of any of the following shall constitute a default under this
      Lease:

    

    A.
      The
      failure to make a required payment under this Lease when due.

    

    B.
      The
      violation of any other provision or requirement that is not corrected within
      30
      day(s) after written notice of the violation is given.

    

    C.
      The
      insolvency or bankruptcy of the Lessee.

    

    D.
      The
      subjection of any of Lessee’s property to any levy, seizure, assignment,
      application or sale for or by any creditor or government agency.

    

    RIGHTS
      ON DEFAULT.
      In
      addition to any other rights afforded the Lessor by law, if the Lessee is in
      default under this Lease, without notice to or demand on the Lessee, the Lessor
      may take possession of the equipment as provided by law, deduct the costs of
      recovery (including attorney fees and legal costs), repair, and related costs,
      and hold the Lessee responsible for any deficiency. The rights and remedies
      of
      the Lessor provided by law and this Agreement shall be cumulative in nature.
      The
      Lessor shall be obligated to re-lease the equipment, or otherwise mitigate
      the
      damages from the default, only as required by law.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    NOTICE.
      All
      notices required or permitted under this Lease shall be deemed delivered when
      delivered in person or by mail, postage prepaid, addressed to the appropriate
      party at the address shown for that party at the beginning of this
      Lease.

    

    ASSIGNMENT.
      The
      Lessee shall not assign or sublet any interest in this Lease or the equipment
      or
      permit the equipment to be used by anyone other than the Lessee or Lessee’s
      employees, without Lessor’s prior written consent.

    

    ENTIRE
      AGREEMENT AND MODIFICATION.
      This
      Lease constitutes the entire agreement between the parties. No modification
      or
      amendment of this Lease shall be effective unless in writing and signed by
      both
      parties. This Lease replaces any and all prior agreements between the
      parties.

    

    GOVERNING
      LAW.
      This
      Lease shall be construed in accordance with the laws of the State of
      Texas.

    

    SEVERABILITY.
      If any
      portion of this Lease shall be held to be invalid or unenforceable for any
      reason, the remaining provisions shall continue to be valid and enforceable.
      If
      a court finds that any provision of this Lease is invalid or unenforceable,
      but
      that by limiting such provision, it would become valid and enforceable, then
      such provision shall be deemed to be written, construed, and enforced as so
      limited.

    

    WAIVER.
      The
      failure of either party to enforce any provision of this Lease shall not be
      construed as a waiver or limitation of that party’s right to subsequently
      enforce and compel strict compliance with every provision of this
      Lease.

    

    CERTIFICATION.
      Lessee
      certifies that the application, statements, trade references, and financial
      reports submitted to Lessor are true and correct and any material
      misrepresentation will constitute a default under this Lease.

    

    ARBITRATION.
      Any
      controversy or claim relating to this Lease, including the construction or
      application of this Lease, will be settled by binding arbitration under the
      rules of the American Arbitration Association, and any judgment granted by
      the
      arbitrator(s) may be enforced in any court of proper jurisdiction.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              Lessor:

              
                Mark
                  Trimble

              

            	 	 	 
	 	 	 	
            
	
              

              Mark
                Trimble

            	 	 	
            

    

     

    
      	
              Lessee:

              The
                Jon Ashton Corporation

            	 	 	 
	 	
            	 	 	 
	By: 	 	 	 	 
	
            	
              

              John
                Peper

              Vice
                President

            	 	 	
            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    EXHIBIT
      A

    

    Equipment
      Schedule

     

    Equipment
      Description: 1998 Ford F150 pickupEV
      Energy Partners, L.P.

    Long-Term
      Incentive Plan

     

    Grant
      of Phantom Units

     

    Grantee       
      _____________________________

     

    Grant
      Date  _________________________ 200_

     

    	1.         
             	
            Grant
              of Phantom Units.
              EV Management, LLC (the “Company”)
              hereby grants to you __________ Phantom Units under the EV Energy
              Partners, L.P. Long-Term Incentive Plan (the “Plan”)
              on the terms and conditions set forth herein and in the Plan, which
              is
              incorporated herein by reference as a part of this Agreement. This
              grant
              of Phantom Units includes a tandem grant of DERs with respect to each
              Phantom Unit. In the event of any conflict between the terms of this
              Agreement and the Plan, the Plan shall control. Capitalized terms used
              in
              this Agreement but not defined herein shall have the meanings ascribed
              to
              such terms in the Plan, unless the context requires otherwise.
              

          

     

    	2.         
             	
            Regular
              Vesting.
              Except as otherwise provided in Paragraph 3 below, the Phantom Units
              granted hereunder and any distributions made by the Company with respect
              to the Phantom Units shall vest on the 15th
              day of the annual anniversary month of the Grant Date as follows:
              

          

     

    
      	
               

              Anniversary
                of the 

              Grant
                Date 

            	
               

               

            	
               

              Cumulative
                Vested Percentage 

            

    

    

    For
      each
      Phantom Unit outstanding, you shall be entitled to receive a payment equal
      to
      any cash distributions made by the Partnership on a Unit during the period
      such
      Phantom Unit is outstanding; provided, however, that no amounts shall be payable
      to or for your benefit with respect to record dates occurring prior to the
      Grant
      Date, or with respect to record dates occurring on or after the date, if any,
      on
      which you have forfeited the Phantom Units.
      

     

    	3.         
             	
            Events
              Occurring Prior to Regular Vesting.
              

          

     

    	a.  
             	
            Death
              or Disability.
              If your employment with the Company terminates as a result of your
              death
              or a Disability, the Phantom Units then held by you automatically will
              become fully vested on the Designated Vesting Date that coincides with
              or
              immediately follows such termination. Except as otherwise provided
              by the
              Committee, you shall be considered to have a “Disability” during the
              period in which you are unable, by reason of a medically determinable
              physical or mental impairment, to engage in any substantial gainful
              activity, which condition, in the opinion of a physician selected by
              the
              Committee, is expected to have a duration of not less than 120
              days.

          

     

    
      
         

      

      
        -1-

        
          

        

      

      
         

      

    

     

    	b.  
             	
            Termination
              by the Company other than for Cause.
              If your employment is terminated by the Company for any reason other
              than
              “Cause,” as determined by the Company in accordance with its employment
              policies, the Phantom Units then held by you automatically will become
              fully vested on the Designated Vesting Date that coincides with or
              immediately follows such termination. 

          

     

    	c.  
             	
            Other
              Terminations.
              Except as provided in Paragraph 2 hereof, if you terminate from the
              Company for any reason other than as provided in Paragraphs 3(a) and
              (b) above, all unvested Phantom Units then held by you automatically
              shall be forfeited without payment upon such termination.
              

          

     

    	d.  
             	
            Change
              of Control.
              All outstanding Phantom Units held by you shall become fully vested
              upon a
              Change of Control.

          

     

    For
      purposes of this Paragraph 3, “employment with the Company” shall include
      being an employee of or a consultant to the Company or an Affiliate.

     

    [For
      Directors

     

    	a.  
             	
            Death
              or Disability.
              If you are no longer a director of the company as a result of your
              death
              or a Disability, the Phantom Units then held by you automatically will
              become fully vested on
              the Designated Vesting Date that coincides with or immediately follows
              such termination.
              Except as otherwise provided by the Committee, you shall be considered
              to
              have a “Disability” during the period in which you are unable, by reason
              of a medically determinable physical or mental impairment, to engage
              in
              any substantial gainful activity, which condition, in the opinion of
              a
              physician selected by the Committee, is expected to have a duration
              of not
              less than 120 days.

          

     

    	b. 
              	
            Voluntary
              Resignation.
              If you are no longer a director by reason of your voluntary resignation,
              all unvested Phantom Units then held by you automatically shall be
              forfeited without payment upon such
              termination.

          

     

    	c.  
             	
            Other
              Terminations.
              Except as provided in Paragraph 2 hereof, if you are no longer a
              director of the Company for any reason other than as provided in
              Paragraphs 3(a) and (b) above, all unvested Phantom Units then held
              by you automatically shall become fully vested upon on the Designated
              Vesting Date that coincides with or immediately follows such
              termination.

          

     

    	d.  
             	
            Change
              of Control.
              All outstanding Phantom Units held by you shall become fully vested
              upon a
              Change of Control.]

          

     

    	4.         
             	
            Payment.
              As soon as administratively practicable after the vesting of a Phantom
              Unit, you shall be entitled to receive one Unit;
              provided, however, the Company has the right in its sole discretion,
              to
              pay you an amount of cash equal to the Fair Market Value of the Unit
              on
              the day immediately preceding the vesting date (the “Cash-Out
              Price”)
              in lieu of issuing such Unit to you (the “Cash-Out
              Right”).
              In the event the Company elects to exercise its Cash-Out right with
              respect to any of the Phantom Units upon vesting, it shall notify you
              of
              its intent to do so within five business days prior to the applicable
              vesting date and shall pay the Cash-Out Price (less any amounts required
              by the Company or an Affiliate to meet withholding obligations under
              applicable law) to you within five business days following such vesting
              date.

          

     

    
      
         

      

      
        -2-

        
          

        

      

      
         

      

    

     

    	5.         
             	
            Limitations
              Upon Transfer.
              All rights under this Agreement shall belong to you alone and may not
              be
              transferred, assigned, pledged, or hypothecated by you in any way (whether
              by operation of law or otherwise), other than by will or the laws of
              descent and distribution and shall not be subject to execution,
              attachment, or similar process. Upon any attempt by you to transfer,
              assign, pledge, hypothecate, or otherwise dispose of such rights contrary
              to the provisions in this Agreement or the Plan, or upon the levy of
              any
              attachment or similar process upon such rights, such rights shall
              immediately become null and void. 

          

     

    	6.        
              	
            Restrictions.
              By accepting this grant, you agree that any Units which you may acquire
              upon vesting of this award will not be sold or otherwise disposed of
              in
              any manner which would constitute a violation of any applicable federal
              or
              state securities laws. You also agree that (i) the certificates
              representing the Units acquired under this award may bear such legend
              or
              legends as the Committee deems appropriate in order to assure compliance
              with applicable securities laws, (ii) the Company may refuse to
              register the transfer of the Units acquired under this award on the
              transfer records of the Partnership if such proposed transfer would
              in the
              opinion of counsel satisfactory to the Partnership constitute a violation
              of any applicable securities law, and (iii) the Partnership may give
              related instructions to its transfer agent, if any, to stop registration
              of the transfer of the Units to be acquired under this award.
              

          

     

    	7.         
             	
            Withholding
              of Tax.
              To the extent that the grant, vesting or payment of a Phantom Unit
              results
              in the receipt of compensation by you with respect to which the Company
              or
              an Affiliate has a tax withholding obligation pursuant to applicable
              law,
              unless other arrangements have been made by you that are acceptable
              to the
              Company or such Affiliate, you shall deliver to the Company or the
              Affiliate such amount of money as the Company or the Affiliate may
              require
              to meet its withholding obligations under such applicable law. No issuance
              of an unrestricted Unit shall be made pursuant to this Agreement until
              you
              have paid or made arrangements approved by the Company or the Affiliate
              to
              satisfy in full the applicable tax withholding requirements of the
              Company
              or Affiliate with respect to such event. 

          

     

    	8.         
             	
            Change
              of Control.
              Change of Control means (i) a merger of the Partnership in which the
              Partnership is not the surviving entity, (ii) upon the sale of all
              or
              substantially all of the assets of the Partnership and its consolidated
              subsidiaries (taken as one entity) in one transaction or a series of
              related transactions; (iii) a corporation, person, or group acting
              in
              concert (other than the Company, or any savings, pension, or other
              benefit
              for the benefit of employees of the Company, or the subsidiaries thereof)
              (a “Person”)
              as described in Section 14(d)(2) of the Securities Exchange Act of
              1934,
              as amended (the “Exchange
              Act”),
              other than the current beneficial owners (within the meaning of Rule
              13d-3
              promulgated under the Exchange Act) of and equity interest in the profits
              and losses of EnerVest Management Partners, Ltd., a Texas limited
              partnership, acquires, directly or indirectly, beneficial ownership
              (within the meaning of such Rule 13d-3) of more than 50% of the equity
              interests in the Company then entitled to vote generally in the election
              of the Board of Directors; or (iv) the withdrawal, removal or resignation
              of the Company as the general partner of EV Energy GP. L.P., a Delaware
              limited partnership, or the withdrawal, removal or resignation of EV
              Energy GP, L.P. as the general partner of EV Energy Partners, L.P.,
              a
              Delaware limited partnership.

          

     

    
      
         

      

      
        -3-

        
          

        

      

      
         

      

    

     

    	9.        
              	
            Designated
              Vesting Dates.
              For purposes of this Agreement the “Designated Vesting Dates” shall be
              January 15.

          

     

    	10.       
             	
            Rights
              as Unitholder.
              You, or your executor, administrator, heirs, or legatees shall have
              the
              right to vote and receive distributions on Units and all the other
              privileges of a unitholder of the Partnership only from the date of
              issuance of a Unit certificate in your name representing payment of
              a
              vested Phantom Unit.

          

     

    	11.      
              	
            Binding
              Effect.
              This Agreement shall be binding upon and inure to the benefit of any
              successor or successors of the Company and upon any person lawfully
              claiming under you. 

          

     

    	12.       
             	
            Modifications.
              Except as provided below, any modification of this Agreement shall
              be
              effective only if it is in writing and signed by both you and an
              authorized officer of the Company. Notwithstanding anything in the
              Plan or
              this Agreement to the contrary, (a) if the Committee determines that
              the
              terms of this grant do not, in whole or in part, satisfy the requirements
              of new Section 409A of the Internal Revenue Code, the Committee, in
              its
              sole discretion, may unilaterally modify this Agreement in such manner
              as
              it deems appropriate to comply with such section and any regulations
              or
              guidance issued thereunder, and (b) the Committee, in its sole discretion,
              may unilaterally modify this Agreement in any manner that does not
              materially reduce your benefit.

          

     

    	13.      
              	
            Plan
              Governs.
              Notwithstanding anything in this Agreement to the contrary, the terms
              of
              this Agreement shall be subject to the terms of the Plan, a copy of
              which
              may be obtained by you from the office of the Secretary of the Company.
              Except where the context clearly implies or indicates the contrary,
              capitalized words used herein are as defined in the
              Plan.

          

     

    	14.       
             	
            Governing
              Law.
              This grant shall be governed by, and construed in accordance with,
              the
              laws of the State of Delaware, without regard to conflicts of laws
              principles thereof. 

          

     

    

    

    EV
      Management, LLC

    

    By:
      ______________________________

    Name:
      ____________________________

    Title:
      _____________________________

     

    
 

    
      
         

      

      
        -4-

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